| To: LoneClone who wrote (22543) | 5/17/2024 1:50:35 PM | | From: LoneClone | | | | [REE]
Appia Announces Encouraging Initial Results from the Newly Identified Taygeta and Merope Exploration Targets at PCH Project, Brazil
newsfilecorp.com
May 14, 2024 7:44 AM EDT | Source: Appia Rare Earths & Uranium Corp.
Toronto, Ontario--(Newsfile Corp. - May 14, 2024) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") announced today the results from the newly identified exploration targets Taygeta and Merope. A total of 111 samples from 18 auger drill holes were assayed by SGS-GEOSOL Laboratories in Vespasiano, Brazil. The results confirm that the regolith developed over the Ipora Granite presented significant enrichment of Heavy Rare Earth Oxides (HREO), characteristic of the Ionic Adsorption Clay (IAC) rare earth elements (REE) deposits identified at other PCH target zones.
Stephen Burega, President, commented, "These initial results from the auger drill program are very promising, and provide us with a strong indication that the PCH project can host multiple new IAC REE mineralized areas in addition to the resource already identified in our maiden Mineral Resource Estimate (MRE) completed by SGS Canada. Additionally, these new target zones are considerably larger in total area as compared to the Target IV. Desorption test results will be reported once received."
Highlights
- The new targets are in the Eastern portion of the PCH claims, approximately 15 km East from Target IV and the Buriti Zone (see Figure 1).
- Selected intercepts for Heavy Rare Earth Oxide (HREO), Total Rare Earth Oxide (TREO), Dysprosium plus Terbium oxides (Dy+Tb) and Praseodymium plus Neodymium oxides (Nd+Pr) grades in Parts Per Millions (ppm):
- PCH-AH-190 - 4m@1848ppm TREO, 1138ppm HREO, 106ppm Dy+Tb, 205ppm Nd+Pr from 1m.
- PCH-AH-193 - 5m@1254ppm TREO, 270ppm HREO, 29ppm Dy+Tb, 217ppm Nd+Pr from 1m.
- PCH-AH-194 - 2m@1175ppm TREO, 274ppm HREO, 31ppm Dy+Tb, 257ppm Nd+Pr from 4m.
- PCH-AH-199 - 2m@1131ppm TREO, 276ppm HREO, 30ppm Dy+Tb, 209ppm Nd+Pr from 2m.
- PCH-AH-201 - 4m@ 1022ppm TREO, 245ppm HREO, 28ppm Dy+Tb, 211ppm Nd+Pr from 2m.
- PCH-AH-202 - 8m@1696ppm TREO, 1070ppm HREO, 101ppm Dy+Tb, 172ppm Nd+Pr from 0m.
- PCH-AH-204 - 5m@1267ppm TREO, 754ppm HREO, 75ppm Dy+Tb, 168ppm Nd+Pr from 1m.
- PCH-AH-207 - 6m@1025 ppm TREO, 262ppm HREO, 29ppm Dy+Tb, 196ppm Nd+Pr from 3m.
- The grade distribution signature found at depth in the auger drill holes is compatible with the pattern commonly found on IAC REE deposits (see Figures 2 and 3).
- The Taygeta and Merope targets cover an area of 546 and 1,134 hectares respectively.
- These first phase auger drill holes average 6.22 metres in depth, and most ended in mineralization leaving the interval open at depth.
- Intercepts of all auger drill holes are presented in Table 1. The full set of results are included in this LINK.
Tom Drivas, CEO, stated, "Building on our recent news confirming the presence of IAC mineralization through desorption testing, I am extremely excited by the identification of new, large scale targets across the PCH project which are underlain by the IAC mineralization produced by these weathered Ipora granites. We have a lot of work to do over the coming months to fully delineate these new target zones, and to assess the implications of their addition to our maiden MRE, and true value to the marketplace."
Table 1 - Intercepts from all auger holes on targets Taygeta and Merope. For a full list of results, please click here.
To view an enhanced version of this graphic, please visit:
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*Total Rare Earth Oxides: TREO = Y2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + La2O3 + Ce2O3 + Pr2O3 + Nd2O3 + Sm2O3
*Heavy Rare Earth Oxides: HREO = Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3
*Nd+Pr Oxides= Nd2O3+Pr2O3
*Dy+Tb Oxides= Dy2O3+Tb4O7
*Element to Oxide Conversion Factor - Cerium Ce2O3 1.1713, Cerium CeO2 1.2284, Dysprosium Dy2O3 1.1477, Erbium Er2O3 1.1435, Europium Eu2O3 1.1579, Gadolinium Gd2O3 1.1526, Holmium Ho2O3 1.1455, Lanthanum La2O3 1.1728, Lutetium Lu2O3 1.1371, Neodymium Nd2O3 1.1664, Praseodymium Pr2O3 1.1703, Praseodymium Pr6O11 1.2082, Samarium Sm2O3 1.1596, Terbium Tb2O3 1.1510, Terbium Tb4O7 1.1762, Thulium Tm2O3 1.1421, Yttrium Y2O3 1.2699, Ytterbium Yb2O3 1.1387
Figure 1 - Map presenting the exploration auger drill holes location and targets.
To view an enhanced version of this graphic, please visit:
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Figure 2 - Strip log of selected auger holes from Taygeta Target.
To view an enhanced version of this graphic, please visit:
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Figure 3 - Strip log of selected auger holes from Merope Target.
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Andre Costa, VP Exploration for Brazil, commented, "The confirmation of these new targets opens the prospect of finding new exploration targets associated with the Ipora Granite across the entirety of the PCH project area which covers an impressive +40,000 hectares. Auger samples for desorbability testing are being prepared to corroborate the IAC REE mineralization in Taygeta and Merope targets. Delineation drilling will follow upon favorable desorption results."
On March 1st, 2024, the Company announced its maiden Mineral Resource Estimate (MRE) on Target IV and the Buriti Zone ( Click here for the Press Release), and the companion NI 43-101 technical report on the PCH Project was filed on April 16th, 2024. ( Click here for the Press Release)
John Tumazos Very Independent Research Presentation
Appia invites you to register for a webinar on May 14th at 9:45 AM EDT, Eastern Daylight Time (North America) with Appia Rare Earths & Uranium Corp.'s President, Mr. Stephen Burega and VP of Exploration, Brazil, Mr. Andre Costa, and renowned former Wall Street analyst, John Tumazos of Very Independent Research. John will dig in on the latest developments at Appia Rare Earths & Uranium Corp.
To register for the event click here.
After registering, you will receive a confirmation email containing information about joining the webinar.
QA/QC
Auger drill holes are vertical and reported intervals are true thickness. The material produced from drill holes are sampled at one metre intervals, resulting in average sample sizes of 5-10 kg. Quartering of the material was performed at Appia's logging facility using a riffle splitter and continued splitting until a representative sample weighing approximately 500g each was obtained, bagged in a resistant plastic bag, labeled, photographed, and stored for shipment.
The bagged samples are sent to the SGS laboratory in Vespasiano, Minas Gerais. In addition to the internal QA/QC of the SGS Lab, Appia includes its own control samples in each batch of samples sent to the laboratory.
Quality control samples, such as blanks, duplicates, and standards (CRM) were inserted into each analytical run. For all analysis methods, the minimum number of QA/QC samples is one standard, one duplicate and one blank, introduced in each batch which comprise a full-length hole. The rigorous procedures are implemented during the sample collection, preparation, and analytical stages to insure the robustness and reliability of the analytical results.
All analytical results reported herein have passed internal QA/QC review and compilation. All assay results of Auger samples were provided by SGS Geosol, an ISO/IEC 17025:2005 Certified Laboratory, which performed their measure of the concentration of rare earth elements (REE) with the IMS95R analytical method that uses lithium metaborate fusion prior acid dissolution and Inductively Coupled Plasma Mass Spectrometry (ICP-MS).
The technical information in this news release, including the information related to geology, drilling, and mineralization, has been reviewed and approved by Andre L. L. Costa, Appia's VP Exploration for Brazil, with more than 29 years of relevant experience. Mr. Costa is a Fellow of the Australian Institute of Geoscientists (FAIG) and is a Qualified Person (QP) as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Appia Rare Earths & Uranium Corp. (Appia)
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project (See June 9th, 2023 Press Release - Click HERE) which is 40,963.18 ha. in size and located within the Goiás State of Brazil. (See January 11th, 2024 Press Release - Click HERE) The Company is also focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, and exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.
Appia has 136.3 million common shares outstanding, 145 million shares fully diluted.
Cautionary note regarding forward-looking statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not a guarantee of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For more information, visit www.appiareu.com
As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online ( X,? Facebook,? LinkedIn)?please feel free to send direct messages.
To book a one-on-one 30-minute Zoom video call, please? click here.
Contact:
Tom Drivas, CEO and Director
(c) (416) 876-3957
(e) tdrivas@appiareu.com
Stephen Burega, President
(c) (647) 515-3734
(e) sburega@appiareu.com
 SOURCE: Appia Rare Earths & Uranium Corp. |
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| To: LoneClone who wrote (22544) | 5/21/2024 1:37:52 PM | | From: LoneClone | | | | [Gallium/Indium]
Silver Elephant Pulacayo Drill-Hole Reports 99-Meter Intersection Grading 27.8 g/t Gallium, 9.7g/t Indium, 21.2 g/t Silver, 1.1% Zinc, and 0.5% Lead in Bolivia
newsfilecorp.com
May 21, 2024 8:30 AM EDT | Source: Silver Elephant Mining Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - Silver Elephant Mining Corp. (TSX: ELEF) (OTC Pink: SILEF) (FSE: 1P2N) ("Silver Elephant" or the "Company") is pleased to announce that it has identified multiple occurrences of gallium (Ga) and indium (In) in selected drill core at its flagship Pulacayo silver-lead-zinc project ("Pulacayo Project") in Potosi department, Bolivia.
While conducting a routine review of the Pulacayo project drillhole database, the Company recognized several wide intervals of gallium and indium mineralization from four diamond-drill-holes. The assays of the four drill holes (PUD 28 to 31) are tabulated below. Hole PUD 28 contained a 99-meter ("m") intersection grading gallium 27.8 grams per tonne ("g/t"), indium 9.7 g/t, silver 21.2 g/t, zinc 1.1%, and lead 0.5%.
| HOLE ID | From (m) | To (m) | Int (m) | True Width (m) | Ga (g/t) | In (g/t) | Ag (g/t) | Pb (%) | Zn (%) | | PUD028 | 131 | 230 | 99 | 89.7 | 27.8 | 9.7 | 21.2 | 0.5 | 1.1 | | Inc. | 149 | 156 | 7 | 6.3 | 24.0 | 9.4 | 2.0 | 1.3 | 1.7 | | Inc. | 183 | 194 | 11 | 10 | 30.1 | 28.8 | 3.8 | 0.5 | 2.1 | | Inc. | 188 | 192 | 4 | 3.6 | 30.9 | 50.4 | 2.7 | 0.9 | 3.0 | | Inc. | 212 | 225 | 13 | 11.8 | 26.7 | 21.6 | 113.7 | 0.5 | 1.7 | | Inc. | 212 | 216 | 4 | 3.6 | 27.1 | 32.5 | 250.3 | 0.8 | 2.3 | | PUD029 | 22 | 39 | 17 | 12 | 24.5 | 4.9 | 14.6 | 0.5 | 1.0 | | Inc. | 25 | 31 | 6 | 4.2 | 23.6 | 10.3 | 30.9 | 0.9 | 2.6 | | Inc. | 30 | 32 | 2 | 1.4 | 23.1 | 15.8 | 60.0 | 1.7 | 3.7 | | PUD029 | 49 | 70 | 21 | 14.8 | 26.1 | 4.8 | 11.6 | 0.5 | 1.4 | | Inc. | 53 | 61 | 8 | 5.7 | 28.1 | 9.1 | 24.7 | 0.9 | 2.6 | | Inc. | 53 | 56 | 3 | 2.1 | 29.5 | 16.6 | 41.3 | 1.1 | 4.5 | | PUD029 | 108 | 123 | 15 | 10.6 | 24.5 | 6.2 | 23.8 | 0.9 | 1.7 | | Inc. | 114 | 117 | 3 | 2.1 | 19.6 | 11.6 | 50.3 | 1.9 | 3.0 | | PUD030 | 115 | 118 | 3 | 1.7 | 18.6 | 7.1 | 75.4 | 0.3 | 0.1 | | PUD030 | 214 | 233 | 19 | 10.9 | 30.7 | 0.1 | 0.1 | 0.0 | 0.0 | | PUD031 | 63 | 71 | 8 | 6.6 | 2.9 | 3.1 | 25.5 | 0.8 | 1.1 | | Inc. | 64 | 65 | 1 | 0.8 | 4.3 | 8.0 | 39.7 | 0.4 | 1.0 | | PUD031 | 75 | 82 | 7 | 5.7 | 2.1 | 5.0 | 10.9 | 0.4 | 1.2 | | Inc. | 81 | 82 | 1 | 0.8 | 2.0 | 9.0 | 15.2 | 0.7 | 1.5 |
The Company is highly encouraged by the gallium and indium results and will continue to evaluate this potential given:
1. Gallium and indium are typically associated with zinc in polymetallic deposits similar to Pulacayo.
The Pulacayo project has a total indicated resource of 106.7 million ounces of silver, 1.4 billion pounds of zinc and 690 million pounds of lead published in the Technical Report dated October 13, 2020 and tabulated below.
| Combined Pulacayo and Paca Indicated Mineral Resources |
| Tonnes | Ag (g/t) | Pb % | Zn % | | Oxide | 2,185,000 | 155 | - | - | | Sulfide | 45,855,000 | 65 | 0.69 | 1.37 |
Combined Indicated Mineral Resources includes Pulacayo pit-constrained and out-of-pit plus only Paca pit-constrained resources. Oxide resources use a 50 g/t Ag cutoff. Sulfide resources use a 100 g/t Ag Eq cutoff. Ag Eq = Silver Equivalent (Recovered) = (Ag g/t*89.2%)+((Pb%*(US$0.95/lb. Pb/14.583 Troy oz./lb./US$17 per Troy oz. Ag)*(10,000*91.9%))+((Zn%*(US$1.16/lb. Zn/14.583 Troy oz./lb./US$17 per Troy oz. Ag)*(10,000*82.9%)). Sulphide zone metal recoveries of 89.2% for Ag, 91.9% for Pb, and 82.9% for Zn were used in the Silver Equivalent (Recovered) equation and reflect metallurgical testing results disclosed previously for the Pulacayo Deposit. Matthew Harrington P. Geo., Michael Cullen, P. Geo. and Osvaldo Arce, P. Geo are the independent Qualified Persons for the mineral resource estimate ("N.I. 43-101 Mineral Resource Estimate Technical Report for the Pulacayo Project Effectve Date October 13, 2020"). They have verified all data and the QA/QC methodology. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
2. The four drill holes were drilled between 2003 and 2005 by a previous operator. Gallium and indium results have not been used in any resource calculation to date.
3. The wide gallium and indium intersection with consistent grades from PUD 28 suggests the presence of additional mineralization in PUD 28's surroundings.
The Company has reviewed all available data, selected 171 samples from 12 drill holes and submitted them to SGS Laboratories Services to assay for gallium and indium. The samples were selected for testing because of their proximity to PUD 28-31.
John Lee, CEO of Silver Elephant comments: "There is lot of work ahead to establish Pulacayo as a potentially strategic source of gallium and indium supply to the North American market. We are cautiously optimistic of exploring this new dimension at Pulacayo to take advantage of increasing demand for gallium and indium (and rising prices) in high-tech 5G and LCD applications."
Both indium and gallium prices are trading at approximately $10/oz (dailymetalprice.com), with prices doubling since 2020. On August 1, 2023, China began restricting exports of gallium and germanium as part of its broader export control rules, with a focus on limiting the exports of critical minerals, including gallium, germanium and graphite.
Indium is an essential ingredient in solar panels, touch screens and LCD panels while gallium is used in most advanced semiconductor chipsets in 5G applications with reduced power consumption and heat generation vs silicon counterparts.
Total annual world gallium and indium production is estimated by U.S. Geological Survey (2022) to be 15 million oz and 32 million oz respectively. China currently accounts for over 90% of the global gallium production and over 65% of the global indium production, as well as a substantial portion of the world's exports.
QA/QC
An industry standard Quality Assurance/Quality Control program was used during the various drill campaigns. All core and other samples were split with half being bagged, labelled and shipped directly to the laboratory. The other 50% split is retained in a secure facility. Both standards and blanks were inserted at regular intervals within each sample batch prior to shipment to the laboratory. These comprised 3-5% (depending on the phase of the drill campaign) of analyzed material. For further details, the reader is referred to the N.I. 43-101 cited above.
Qualified Person
The technical contents of this news release have been prepared under the supervision of Bill Pincus, who is an independent consultant of the Company. Mr. Pincus is a qualified person as defined by the guidelines of NI 43-101.
About Silver Elephant Mining Corp.
Silver Elephant is a silver mining company, with its flagship Pulacayo-Paca silver project in production since October 2023 in Bolivia.
Further information on Silver Elephant can be found at www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD
"John Lee"
CEO
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
info@silverelef.com
www.silverelef.com
FORWARD-LOOKING INFORMATION
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking information in this news release include statements regarding the potential of the drilling results disclosed in this news release, and whether current interpretations of drilling results will be confirmed by future work.
Forward-looking statements are based on expectations and reasonable assumptions by management as of the date of this news release, and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied herein, including the results of any future drilling campaigns which may differ from the results expected by management, changes in the Company's exploration plans, commodity prices, supply and demand, the fact that mineral resources that are not mineral reserves do not have demonstrated economic viability, the Company's requirements for additional capital, and general economic and market conditions. There can be no assurance that actual results will be consistent with any forward-looking statements included herein. Readers are cautioned that all forward-looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking statements in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.
 SOURCE: Silver Elephant Mining Corp. |
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| To: LoneClone who wrote (22547) | 5/21/2024 2:18:33 PM | | From: LoneClone | | | | [Tantalum/Niobium/REE] Commerce Resources Enters into Agreement to Sell Its Blue River Property
accesswire.com
Tuesday, 21 May 2024 03:05 AM
VANCOUVER, BC / ACCESSWIRE / May 21, 2024 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") has elected to dispose of the Blue River Assets (as defined below) by pursuing a sale of the property to a third party (the "Blue River Transaction").
Company President Chris Grove states "We believe that focusing exclusively on our claims in Quebec with the significant opportunities of both our Ashram REE/ Fluorspar Deposit and our highly prospective niobium claims - on which we plan to drill this year - makes the best sense for the Company. We also believe that the Blue River claims will be effectively stewarded by the management of Capacitor Metals."
The Company clarifies that, further to its news release dated June 22, 2023, it will no longer proceed with a spin out of its Blue River Assets (as defined below) pursuant to a proposed statutory plan of arrangement, as previously disclosed.
The Company has entered into a property purchase agreement (the "Purchase Agreement") with an arm's length private company (the "Purchaser") to sell its interest in certain mineral claims comprising the "Blue River" property (the "Blue River Claims") located near Blue River, British Columbia. As part of the transaction, the sale will also include certain real property owned by the Company also located in Blue River, B.C. (the "Blue River Land", and together with the Blue River Claims, the "Blue River Assets"). As consideration for the Blue River Assets, the Company will receive 20,000,000 common shares in the capital of the Purchaser at a deemed price of $0.05 per share (the "Blue River Shares"). Completion of the Blue River Transaction is subject to the conditions set forth in the Purchase Agreement, including, if required, acceptance by the TSX Venture Exchange.
It is the Company's current intention to distribute the Blue River Shares to its shareholders on a pro rata basis at a later date. Any disposition of the Blue River Shares will, if undertaken, be conducted in compliance with applicable corporate and securities laws, and the policies of the TSX Venture Exchange.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"Chris Grove"
Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include that the sale of the Blue River Assets is subject to certain conditions, including acceptance by the TSX Venture Exchange, if required; that the Company may distribute the Blue River Shares to shareholders on a pro rata basis; that the Ashram Deposit has the potential to be a long-term supplier to the met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth producers globally. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include: that the TSX Venture Exchange may not accept the sale of the Blue River Assets; that the sale of the Blue River assets may not be completed as contemplated in the purchase agreement, or at all; that we may not be able to fully finance any additional exploration on the Ashram Project; that even if we are able raise capital, costs for exploration activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities; the timing and content of any future work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful and even if such tests are successful, the economic and other outcomes may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; the required permits to build and operate the envisaged open-pit shell may not be obtained in a timely or cost-effective manner, or at all; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable. The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE: Commerce Resources Corp. |
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| To: LoneClone who wrote (22548) | 5/21/2024 3:17:53 PM | | From: LoneClone | | | | [REE/Titanium]
Teako Minerals Announces Commencement of Regional Summer Exploration Program
newsfilecorp.com
May 21, 2024 8:00 AM EDT | Source: Teako Minerals Corp.
Not for dissemination in the United States or through U.S. newswires
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - TEAKO MINERALS CORP. (CSE: TMIN) (the "Company" or "Teako") is pleased to announce the commencement of its regional 2024 summer exploration program in southern Norway and initially focusing on the Hulderdalen, Kvelde, Moelva and Kiste project areas (the "Sandefjord Program")(Figure 1), all of which form part of the previously announced Project Hub (the "Hub Projects") ( see News Releases dated March 12, 2024, and May 16, 2024). The Sandefjord program is focused primarily on the evaluation of apatite (phosphate) and Rare Earth Element ("REE")-bearing igneous complexes, and the main objectives are to identify and prioritize those areas requiring additional detailed work programs and to advance toward drill target generation.
Both REE and phosphorus are defined as critical materials by the European Union ("EU")(European Critical Materials Act; March 16, 2023) and, as such, strong support exists for developing sustainable local supply chains within Europe. Norway and the EU signed a bilateral agreement on March 21, 2024, with respect to a green strategic industrial partnership and cooperation on sustainable value chains, including land-based raw materials and batteries ( Norway and the EU enter into a green strategic industrial partnership - regjeringen.no).
Highlights:
- Teako commences its 2024 summer exploration program in southern Norway.
- The Company's geological team will initially conduct soil and/or stream sediment sampling and mapping programs on 4 project areas.
- Teako's Hulderdalen project lies immediately to the south of the main mineralized zone at the Kodal phosphate-titanomagnetite-REE deposit, which is reported to host an open pittable JORC compliant Indicated Resource of 14.6 million tonnes (Mt) @ 2.26% P (5.18% P2O5) + 24.12% Fe (plus accessory REE in apatite), and an additional Inferred Resource of 34.3 Mt @ 2.0% P (4.59% P2O5) + 20.38% Fe (Source: Group Annual Report - Kodal Minerals plc., March 31, 2017) i,ii.
- P-REE-Fe-Ti mineralization has previously been identified within the Company's Hulderdalen claims at the Kodal Minerals' former Southern Mineralization Zone.
- The Hulderdalen project area forms part of a more extensive NGU study.
A field crew consisting of the Company's four in-house geologists, along with local helpers that the Company has hired, has been mobilized to conduct a phase one mapping and sampling program. The Company would like to thank the Sandefjord municipality and Elin Sørensen from the Norwegian Labour and Welfare Administration for their invaluable support in recruiting local field workers to assist in the Company's field program.
The program intends to verify the Company's historical data collected throughout 2023 and 2024. The Company has initiated its Sandefjord Program at the Hulderdalen project to make the best use of the better seasonal weather conditions in southern Norway; the exploration team will then proceed northward to encompass the remaining projects in the program, which are considered by the Company to be satellite projects to Hulderdalen.
The Company may expand its summer program to encompass additional Hub Projects or Main Projects (the "main projects") throughout the Company's project portfolio, contingent upon the availability of resources and time allocation.
The geological team will initially conduct soil and/or stream sediment sampling, as well as mapping programs on the projects. Soil grids have been developed with various grid spacing patterns for the projects, which will be deployed depending on conclusions drawn from the data review through 2023/2024. The data from the sampling programs will be initially analyzed internally utilizing the GERDA (Geochemical Research and Documentation Assistant) system, which is an automated analysis unit for portable and handheld instruments such as pXRF. Both the GERDA and the pXRF are owned by the Company.
Following this initial analysis, all samples of interest and a selection of lower-grade samples will be sent for laboratory analysis. This initial analysis method will quickly give the Company accurate data on-site, enabling the geology team to make informed decisions faster whilst reducing the number of samples sent to the lab and lowering costs significantly. The initial analysis results will allow the team of geologists to identify anomalies and assign tighter grid patterns for a second sampling phase to delineate the size of the anomalous areas.
i References made to adjacent mines/projects provide context for Teako's projects but are not necessarily indicative that the projects host similar tonnages or grades of REE, phosphate, iron, or titanium.
ii Historic mineral resource estimates for Kodal are derived from Kodal Minerals plc's Group Annual Report; March 31, 2017). Whilst Teako has not performed sufficient work to verify the published data reported, the Company believes this information to be considered reliable and relevant.
Figure 1: Projects in the Sandefjord Summer Exploration Program
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The Hulderdalen Project
The Hulderdalen Phosphate-REE-Iron-Titanium ("P-REE-Fe-Ti") Project (Figure 2) consists of eight contiguous licenses in the Vestland province of southern Norway. The project covers an area of 71 square kilometers. The property has excellent access through all-weather paved primary/secondary roads and gravel roads. The Vestland province is known to contain two known ferrous metal occurrences, one of which is the well-studied main zone of the Kodal P-REE-Fe-Ti project (not owned by the Company).
The main mineralized zone at the Kodal deposit is located directly adjacent to the northern margin of the Hulderdalen project and is reported to host a JORC-compliant Indicated Resource of 14.6 million tonnes (Mt) @ 2.26% P (5.18% P2O5) + 24.12% Fe (plus accessory REE in apatite), and an additional Inferred Resource of 34.3 Mt @ 2.0% P (4.59% P2O5) + 20.38% Fe (Source: Group Annual Report - Kodal Minerals plc., March 31, 2017) i,ii.
Figure 2: The Hulderdalen Project
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The Hulderdalen project area forms part of a more extensive Norwegian Geological Survey ("NGU") study looking at the potential for the use of machine learning for Critical Prospecting in the Oslo Rift; Teako's Hulderdalen project is highlighted within the report (referred to as 'Kodal Area' or Fig10a)(Reference 1), which represents the most extensive known occurrence of P-REE-Fe-Ti in the Larvik Plutonic Complex (or "LPC").
The main Kodal deposit appears to have an adjacent prospective area to the south that the Company refers to as the Hulderdalen project. The report shows a detailed extract of a prospectivity map (Figure 3) over the Kodal Area (on the left), the geology map (on the right), and a larger scale map (Figure 4).
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Hulderdalen Geological Setting
The Hulderdalen P-REE-Fe-Ti property and the associated hub projects lie within the Oslo Igneous Province (or "OIP"), which comprise a number of intrusions with enhanced phosphorus contents including monzodiorites, troctolites and monzonites. There is also a general enrichment of phosphorus in rocks associated with the monzonites, which contain small rafts and larger bodies of monzodiorite. Within the OIP lies the Larvik Plutonic Complex (LPC), which is comprised of a series of crescent-shaped monzonite intrusions formed in response to plutonic centers moving successively from the east towards the west.
Layered intrusions and alkaline intrusive complexes of the Southern Oslo Rift are known for hosting magmatic occurrences rich in P-REE-Fe-Ti.
The Carboniferous to Triassic-age OIP comprises saturated to undersaturated alkaline to subalkaline basaltic, latitic, trachytic and ignimbritic volcanites formed in conjunction with fissure eruptions and subsequent formation of central volcanoes with associated calderas. The volcanites are truncated by gabbroic, monzonitic, syenitic and granitic plutons. The early Permianmonzonite plutons and associated monzodiorites contain, especially in the southern part of the palaeorift, abundant accumulations of apatite-Fe-Ti ores, which include the Kodal deposit and the Hulderdalen area of interest (References 2 and 3).
Geology and Mineralization
The Hulderdalen project is situated in the Permian Oslo rift, and the local geology consists of a Larvikite-Ladalite complex of monzonites and syenites along with Permian-age porphyries, latites and microdiorites.
P-REE-Fe-Ti mineralization has been identified both immediately adjacent to the Company's Hulderdalen claims at Kodal Minerals' ("Kodal") Western / Main Mineralization Zone, as well as within the Hulderdalen claims at the former Kodal Southern Mineralization Zone. In both occurrences the primary apatite-bearing mineralization occurs at the basal contact of the larvikite
deposit, with surface expressions consisting of an "oxide zone" immediately underlain by a "transitional zone." Kodals' Western / Main Mineralization Zone is interpreted to extend for some 1900m east-west with a maximum mineralization thickness of 60m. Some small-scale drilling is reported to have intersected mineralization to 300m depth.
The P-REE-Fe-Ti occurrence at Kodals' former Southern Mineralization Zone is reported by Kodal (Annual Report dated March 31, 2017) to contain similar tenors of P2O5, Fe, and Ti mineralization (up to 5.8% P2O5, 1.4% Ti, and 14.3% Fe) from XRF analyses as for the Western/Main Mineralized Zone. These results will be followed up with additional analyses to be undertaken by Teako's field crews.
Exploration History
A significant amount of exploration work has occurred on the property, starting in the 1980s for REEs. Kodal Minerals Plc also completed extensive work in the area, identifying the mineralization previously discussed through a series of work programs, including outcrop mapping and sampling (2013-2014), magnetic geophysical surveys (2014), and backpack drilling (2014).
Hulderdalen Satellite Projects
The Kiste Project
Kiste is situated approximately 5km to the west of Hulderdalen. Kiste consists of four contiguous licenses measuring approximately 34 square kilometers in size (Figure 5).
Figure 5: The Kiste Project
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Kiste is situated on the border of the Telemark & Vestland provinces of Norway and is interpreted by the Company to be situated in a geological setting similar to Hulderdalen and exhibits a geophysical signature akin to both Hulderdalen and the adjacent Kodal deposit. Due to these similarities, Kiste is being treated as a potential satellite deposit to Hulderdalen.
The Kvelde Project
Kvelde is situated approximately 4 km to the west of Hulderdalen. Kvelde consists of four contiguous licenses measuring 38 square kilometers in size (Figure 6).
Figure 6: The Kvelde Project
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Kvelde is situated on the border of the Telemark & Vestland provinces of Norway and contains known ferrous metal and apatite occurrences. The project has been explored for REEs previously in the 1970s and 1980s by the NGU respectively. Kvelde is situated in an identical geological setting to Hulderdalen and exhibits a similar geophysical signature to the Hulderdalen and the adjacent Kodal deposit. Due to these similarities, Kvelde is being treated as a potential satellite deposit to Hulderdalen.
The Moelva Project
Moelva is situated approximately 25km to the north-west of Hulderdalen. Moelva consists of two contiguous licenses and measures 27 square kilometers in size (Figure 7).
Figure 7: The Moelva Project
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Moelva is situated on the border of the Telemark provinces of Norway and contains known ferrous and base metal occurrences. The project sits only 1.5km to the north-west of the Siljan Fe-Ti-P-REE deposit, identified by the NGU. Moelva is situated in an identical geological setting as Hulderdalen and exhibits a geophysical signature similar to Hulderdalen, the Kodal deposit and the adjacent Siljan deposit. Due to these similarities, Moelva is being treated as a potential satellite deposit to Hulderdalen, and Teako is confident that we can effectively locate any P-REE-Fe-Ti mineralization on this property.
References
1: 2024 Leveraging Domain Expertise in Machine Learning for Critical Metal Prospecting in the Oslo Rift: A Case Study for Fe-Ti-P-Rare Earth Element Mineralization [Ying Wang ,Nolwenn Coint, Eduardo Teixeira Mansur, Pedro Acosta-Gongora, Ana Carolina Rodrigues Miranda, Aziz Nasuti and Vikas Chand Baranwal]
2: api.newsfilecorp.com
3: 2014 Characterization of apatite resources in Norway and their REE potential [Peter M. Ihlen , Henrik Schiellerup, Håvard Gautneb, Øyvind Skår]
Qualified Persons and Disclosure Statement
The technical information in this news release relating to the Sandfjord Program has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101, and approved by Eric Roth, a Non-Executive Director of Teako and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has 35 years of experience in international minerals exploration and mining project evaluation.
Chief Executive Officer, Sven Gollan, comments: "After over 12 months of desktop studies and several site visits, we are now starting systematic exploration on site with our strong team of geologists. We have so far secured very large areas in 2024, which puts Teako in a strategically unique position in Norway. The Sandefjord program is one important step in what is now a very active portfolio management process to identify and develop the most promising projects."
About Teako Minerals Corp.:
Teako Minerals Corp. is a Vancouver-based mineral exploration company committed to acquiring, exploring, and developing mineral properties in Norway & Finland exploring for copper, cobalt, gold, molybdenum, and rare earth elements (REE). The adoption of technologies such as the SCS Exploration Product aligns with its strategy to remain at the forefront of the rapidly evolving mining industry.
ON BEHALF OF TEAKO MINERALS CORP.
"Sven Gollan"
CEO
T: +1 (604)-871-4301
Email: sven.gollan@teakominerals.com
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Teako. Forward-looking information is based on certain key expectations and assumptions made by the management of Teako. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include statements related to the approvals of the Offering, the use of proceeds for the Offering, and the Company's business plans and operations. Although Teako believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Teako can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include but are not limited to, risks associated with the mineral exploration industry in general (e.g., operational risks in development, exploration and production; the uncertainty of mineral resource estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the availability of services, commodity price and exchange rate fluctuations, changes in legislation impacting the mining industry, adverse weather conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. These and other risks are set out in more detail in Teako's interim Management's Discussion and Analysis for the nine months ended October 31, 2023. Neither the CSE nor its market regulator accepts responsibility for the adequacy or accuracy of this release.
 SOURCE: Teako Minerals Corp. |
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| To: LoneClone who wrote (22549) | 5/21/2024 3:25:07 PM | | From: LoneClone | | | | [Lithium] Usha Resources Executes Letter of Intent To Sell Up to 90% of the Jackpot Lake Lithium Brine Project for Total Consideration of up to US$26,025,000
accesswire.com
Friday, 17 May 2024 07:00 AM
VANCOUVER, BC / ACCESSWIRE / May 17, 2024 / Usha Resources Ltd. ("USHA" or the "Company") (TSXV:USHA)(OTCQB:USHAF)(FSE:JO0), a North American lithium exploration company, is pleased to announce that it has entered into a Letter of Intent (the "LOI") with Stardust Power, Inc. ("Stardust Power") dated March 15, 2024 granting Stardust Power the right to earn up to a 90% interest subject to a 2% Net Smelter Royalty ("NSR") in Usha's Jackpot Lake Lithium Brine Project ("Jackpot Lake" or the "Project").
If the parties enter into definitive agreements covering the transaction, (i) depending on the earn-in level, the total consideration could total up to US$26,025,000 over five years inclusive of payments comprising US$1,525,000 cash, US$750,000 stock, US$15,750,000 stock or cash at Stardust Power's election, and a work commitment of (US$8M). Upon completion of the full earn-in including NSR buyback, Usha would retain 10% of the Project and a 2% NSR and would be carried in the Joint Venture ("JV") formed between Usha and Stardust Power until a formal Decision to Mine is reached following completion of a Feasibility Study. Stardust would be permitted to buy back 1% NSR for a cash payment of US$7.5M.
A non-refundable sum of US$75,000 has been paid to Usha by Stardust Power pursuant to the LOI. The LOI is non-binding, other than Usha's agreement to not engage or communicate with any other party with respect to the Project through September 2024. The transaction is subject to the satisfaction of a number of conditions, including Stardust Power's satisfactory commercial and legal due diligence, the negotiation and execution of definitive agreements (the "Definitive Agreement") and the approval of the TSX Venture Exchange. The Company cautions that there is no guarantee that the Definitive Agreement will be completed or that the other conditions will be satisfied including the listing of Stardust Power on NASDAQ.
Stardust Power is developing a lithium refinery facility in Muskogee, Oklahoma, with capacity of producing up to 50,000 tons per annum of battery grade lithium carbonate ("BGLC") once fully operational. Stardust Power's battery-grade lithium refinery will be designed and manufactured to foster lower carbon energy independence for the United States. Stardust Power seeks to become a sustainable, cost-effective supplier of BGLC, primarily for the electric vehicle ("EV") market, through the development of its innovative, large central refinery (the "Facility") optimized for multiple inputs of different types of lithium brine, including concentrated lithium brine, lithium chloride, or technical and crude grade lithium feedstocks. Once completed, Stardust Power expects to secure multiple sources of feedstock from various lithium producers, with the Facility becoming one of the largest lithium refineries in the United States.
Stardust Power is expected to become a publicly traded company on Nasdaq under the ticker symbol "SDST" via a planned business combination with Global Partner Acquisition Corp II (NASDAQ:GPAC), a special purpose acquisition company. The transaction is expected to be completed during the first half of 2024. 1
Deepak Varshney, CEO of Usha commented: "The development of the Jackpot Lake Lithium Brine Project is a key focus of our company. We demonstrated in 2023 that there was significant potential at this Project, and we look forward to returning to the Project this year to build on last year's successes."
Mr. Varshney continued: "Our strategic vision at Usha has always been to acquire and monetize undervalued assets. With the recent success of companies such as Abitibi Metals, we have been evaluating opportunities to acquire advanced-stage copper and/or gold projects to create further shareholder value in a similar fashion. A number of project reviews have already been completed, and the Company looks forward to keeping shareholders up to date on the progress of its strategy."
Pursuant to the LOI, the Company has agreed to pay 2818390 Ontario Corp (the "Finder") a finder's fee for the Finder's assistance with the proposed sale of the Jackpot Lake Project equal to (i) 10% on the first $300,000 in Transaction Value, (ii) 7.5% on $300,000 to $1,000,000 in Transaction Value, and (iii) 5% on the Transaction Value over $1,000,000 in the consideration received directly from Stardust Power, Inc. by Usha.
Jackpot Lake Lithium Brine Property
USHA's Jackpot Lake Lithium Brine Project is located within Clark County, 35 kilometers northeast of Las Vegas, Nevada, and is comprised of 442 optioned and staked mineral claims that total 8,714 acres (approximately 35.3 km2).
The Project's geologic setting is similar to that of Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America, which has operated continuously since 1966, where sediments from lithium-rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events.
Modelling indicates that the Project target comprises the entirety of the Company's core optioned claim block (2,800 acres; 11.3 km2) and is open in all directions for expansion. The target is shallow, predominantly above bedrock depths of 600 meters, and is approximately 450 meters thick. The total basin within which the target is situated is estimated to be approximately 10,900 acres of which the Company now controls 8,714 acres.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Deepak Varshney, P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
About Usha Resources Ltd.
Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality lithium metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Usha's portfolio of strategic properties provides target-rich diversification and includes Jackpot Lake, a lithium brine project in Nevada and White Willow, a lithium pegmatite project in Ontario that is the flagship among its growing portfolio of hard-rock lithium assets. Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0.
USHA RESOURCES LTD.
"Deepak Varshney" CEO and Director
For more information, please call 778-899-1780, email info@usharesources.com or visit www.usharesources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Stardust Power Inc.
Stardust Power Inc. is a development stage manufacturer and refiner of battery-grade lithium products designed to supply the EV industry and help secure America's leadership in the energy transition. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 tonnes per annum of battery-grade lithium. Committed to sustainability at each point in the process. Stardust Power is expected to become a publicly traded company on Nasdaq under the ticker symbol "SDST" via a planned business combination with Global Partner Acquisition Corp II ("GPAC II") (NASDAQ:GPAC), a special purpose acquisition company.
Forward-looking statements:
This news release may include "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about entering into a Definitive Agreement and completion of the Jackpot Lake transaction with Stardust Power, strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation: Usha and Stardust entering into the Definitive Agreement; risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
____________________________________
i. pr.report
SOURCE: Usha Resources Ltd. |
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| To: LoneClone who wrote (22550) | 5/21/2024 4:24:51 PM | | From: LoneClone | | | | [REE]
Meryllion Resources: Exploration Permits Granted for Maiden Drilling Program in North-East Tasmania Targeting Neodymium-rich Ionic Rare Earth Clays
newsfilecorp.com
May 21, 2024 8:15 AM EDT | Source: Meryllion Resources Corporation
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - Meryllion Resources Corporation (CSE: MYR) (OTC PINK: MYRLF) ("Meryllion", "MYR" or the "Company") is pleased to announce that the maiden ionic rare earth drilling campaign in north-east Tasmania has been granted permits required for the exploration drilling on EL20/2022.
Highlights
- Exploration Drilling Permits have been granted for Maiden Drilling Program
- Three locations have been identified for preliminary exploration drilling
- The drilling will target potential extensions of known iREE occurrences and where MYR ground samples produced elevated results up to 533ppm Neodymium & 36.8 ppm Terbidium
- A specialised drilling team has been secured for the exploration drilling
MYR's flagship iREE project comprises a series of strategic tenements that are immediately adjacent the currently identified ionic rare earth resources (ABx Deep Leads MRE see Announcement ABx ASX Announcement 27 September 2023) (Figure 1).
Figure 1: Position of ABx Groups Licences relative to TSGM.
(NB: ABx Licences in light blue with dashed outlines. TSGM Licences in purple. Red fill denotes MRE area of ABx. Background 500k regional gravity from MRT).
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Figure 2: Inset from Figure 1 showing the location of ABx Groups iREE Mineral Resource Estimate for the Deep Leads-Rubble Mound area.
(Source: ABx ASX Announcement 17 August 2023).
(NB: The "Current Drill Target" has been drilled and results announced in ABx ASX Announcement 27 September 2023).
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Initial Field Reconnaissance
MYR Geologists have undertaken exploration reconnaissance programs to assist in developing targets for the drilling program. Selective sampling was undertaken across the tenement package with sample descriptions compiled in Table 1 and locations in Figure 3.
Figure 3: Location of samples collected by MYR Geologists during reconnaissance field work.
(Background 500k regional magnetics).
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| Sample ID | Easting | Northing | Description | | WS001 | 481239 | 5418457 | Orange saprolite clay | | WS002 | 476537 | 5418561 | Red, brown clay | | WS003 | 476537 | 5418561 | Saprolite with mottled red brown, bleached sandstone with black lumps | | WS004 | 477578 | 5426012 | Light grey, red clay with white carbonate(?) coating | | WS005 | 494484 | 5412965 | Pale, mottled, saprolite | | WS006 | 488945 | 5399052 | Fe clay after basalt | | WS007 | 513916 | 5419020 | Black soil | | WS008A | 513165 | 5418527 | Mottled red brown saprolite with black lumps | | WS008B | 513165 | 5418527 | Mottled red brown saprolite with black lumps | | WS008C | 513165 | 5418527 | Mottled red brown saprolite with black lumps |
Table 1: Sample location and descriptions from TSGM reconnaissance field work
Samples from the easternmost tenement (WS008 series) were selected for ALS analysis using lithium borate fusion Inductively Coupled Plasma Mass Spectrometry (ICP-MS) (ALS Code ME-MS81). A summary of the results included significant Neodymium with samples ranging from 368ppm to 533ppm Nd (Table 2) and field location in Figure 4.
Table 2: Results of analysis from ALS Laboratories for TSGM reconnaissance field work samples
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MYR Geologists are currently working with the drilling team to prepare for the upcoming Drilling Campaign which will be ready to commence after the Winter Season.
Figure 4: Location of WS008 series samples where assaying identified elevated Neodymium results.
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About the Tasmanian Rare Earths Projects
The Project is hosted in highly sought rare earth-rich ionic adsorption clay hosted deposits comprising Jurassic Dolerites and Basalts and provide significant upside potential for economic rare earth magnet metals.
Globally, most rare-earths are sourced from hard-rock mines. These typically require large, costly processing plants and a significant lead time to reach production. A less common source of rare earths is ionic adsorption clay (IAC) deposits. Historically, these have only been mined in southern China. A major advantage of IAC deposits is that the rare earths can be extracted from the clay via a simple leaching process. Secondly, they often exist at shallow depth. These advantages enable a project to be developed rapidly and at lower cost. Furthermore, IAC deposits are relatively richer in the rare earths needed for permanent magnets, and they typically contain low concentrations of radioactive elements such as uranium and thorium.
Qualified Person
Ian E Neilson (BSc MSc R.P. Geo MSEG MAIG MGSA) is a consultant to Meryllion and is its Technical Advisor. Mr. Neilson is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and he has reviewed and approved the scientific and technical disclosure contained in this press release.
For further information, please contact:
Mr. Richard Revelins
Director and Chief Executive Officer
Meryllion Resources Corporation
Investor Relations
Jorge@jeminicapital.com
+1-647-725-3888 ext. 704
+1-310-405-4475
rrevelins@peregrinecorporate.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
 SOURCE: Meryllion Resources Corporation |
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| To: LoneClone who wrote (22551) | 5/21/2024 4:27:15 PM | | From: LoneClone | | | | [Vanadium]
District Receives Final Approvals for Additional Mineral Licenses over Alum Shale Energy Metal Targets in Sweden
newsfilecorp.com
May 21, 2024 8:30 AM EDT | Source: District Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) (FSE: DFPP); ("District" or the "Company") is pleased to report that Bergslagen Metals AB (a 100% owned Swedish subsidiary of District) has received final approvals from the Bergsstaten (Mining Inspectorate) for the Viken nr 4, Tåsjö nr 106 to 108, Malgomaj nr 1001 to 1003, and Österkälen nr 101 mineral license applications to explore for vanadium, nickel, molybdenum, zinc, rare earth elements (REE), and other elements located in the Jämtlands and Västerbottens Counties, central and north-central Sweden.
These eight new mineral licenses cover a total area of 91,470 hectares (Figures 1 and 2) and are in good standing for a three-year term that ends from April to May 2027. Renewal for an additional three years will require payment of mineral license fees to the Bergsstaten, and the completion of at least some geological, geochemical, or geophysical work on the mineral license before the three-year term expires.
District consolidated 100% of the Viken Energy Metals Deposit on January 15, 2024 ( news release here), which is the largest undeveloped Alum Shale uranium-vanadium-potash-molybdenum-nickel-copper-zinc deposit in Sweden, and amongst the largest deposits based on total historic mineral resources of uranium and vanadium in the world.
Although there is currently a moratorium on uranium mining and exploration in Sweden, the Swedish Government initiated an inquiry into abolishing the ban on uranium mining and exploration ( February 26, 2024 news release), which was completed on May 15, 2024.
Highlights:
- Mineral License Viken nr 4 increases the area of the Viken Property from 9,367 hectares (ha) to 37,211 ha.
- Mineral Licenses Tåsjö nr 106 to 108 increase the area of the Tåsjö Property from 15,625 ha to 34,317 ha.
- Mineral Licenses Malgomaj nr 1001 to 1003 cover an area of 37,131 ha, and is located northeast of the Tåsjö Property.
- Mineral License Österkälen nr 101 covers an area of 7,803 ha, and is located southeast of the Tåsjö Property.
Garrett Ainsworth, CEO of District, commented: "We are very pleased with the timely approvals for our eight mineral license applications that cover a total of 91,470 hectares of ground that is highly prospective for Alum Shale deposit targets. Alum shales are the host rocks of our Viken Energy Metals Deposit, which represents a potentially significant source of critical and strategic metals and minerals for the green energy transition.
Our planned work on these new mineral licenses will include prospecting, mapping, and geochemical sampling for the remainder of 2024. After this initial phase of exploration work we'll be in a position to add or subtract more ground, and then advance to more costly exploration surveys to refine drill targets."
Alum Shale deposits in Sweden typically contain a large inventory of critical energy metals that will be required as part of the green energy transition. In addition, potentially viable Alum Shale deposits are large and shallow, which simplifies and lowers the cost of the exploration, discovery, and development stages.
Viken nr 4 Mineral License
According to the SGU geological map, Alum Shale is only outcropping in two small areas. One in the south-west corner and another in the west, but the actual distribution might be different as the area is covered by soil and till, and any overlying limestone is likely very thin.
The airborne radiometric survey shows moderate to high values in the northern to south-eastern part of Viken nr 4. A large area of high conductivity dominates the western half of the application, with a similar smaller one in the east, close to the border with the Viken nr 3 mineral licence.
Thickening of the Alum Shale is likely, but not evident from the SGU geological map. Only two glacial till samples are located within the application where one of them shows a moderately anomalous value of uranium (4 ppm U), and the other shows highly anomalous vanadium (78 ppm V).
Tåsjö nr 106 to 108 Mineral Licenses
Tåsjö nr 106 is located adjacent southwest of Tåsjö nr 102 and contains the Fetsjön zone. The Fetsjön zone is part of several large historical exploration target estimates for uranium, vanadium, rare earth elements, phosphate and other energy metals and has seen extensive historic drilling. According to published SGU metallogenetic maps, the Fetsjön zone is within one of Sweden's most promising areas to host large Alum Shale deposits.
Tåsjö nr 107 is adjacent to Tåsjö nr 102 and 103, which covers the eastern part of the Alum Shale in the Tåsjö area. The lithology comprises Alum Shale with the overlying carbonate-rich unit and the underlying quartz-rich metasediments.
An airborne radiometric survey covers two thirds of the area, and shows moderate to high uraniferous radiometric values, especially in the center area. The airborne VLF survey only covers less than half of the perimeter, showing moderate to moderate-high conductive values with an enticing high conductivity area in the south of the application.
Some tectonic thickening is likely present as suggested by thrust faults shown in the SGU geological maps. No glacial till samples were available for Tåsjö nr 107.
According to the SGU geological map Tåsjö nr 108 is dominated by Alum Shale.
The SGU airborne radiometric survey shows relatively low uraniferous radiometric values, with some significantly elevated values in the west and south areas. The airborne VLF survey shows that the area is characterized by a strong high conductivity anomaly covering almost the entire area.
No obvious tectonic thickening is suggested by the SGU geological maps, and no glacial till survey data is available for Tåsjö nr 108.
Malgomaj 1001 to 1003 Mineral Licenses
Malgomaj nr 1001 is covered by Alum Shale and quartz-rich meta-sediments.
No airborne radiometric or VLF data was available for Malgomaj nr 1001.
Tectonic thickening of the Alum Shale is strongly suggested by the SGU geological map in the northern half of Malgomaj nr 1001 where a repeating sequence of Alum Shale and quartz-rich meta-sediments is shown.
Only two till samples were collected from the area by SGU, one in the center and one in the south, both showing anomalous U values (8.2 ppm in the center and 6 ppm in the south) as well as one value of 21 ppm Mo in the center.
Six grab rock samples from Malgomaj nr 1001 are reported in the SGU database, confirming the presence of Alum Shale with values up to 33 ppm U, 577 ppm V, 111 ppm Ni and 160 ppm Mo.
Malgomaj nr 1003 is characterized by an extensive presence of Alum Shale at surface.
The historical airborne radiometric survey indicates moderate to high uraniferous radiometric values over most of Malgomaj nr 1003, with the highest values also grouped in the center part of the application. No airborne VLF geophysical data was available for this area.
Significant tectonic thickening within Malgomaj nr 1003 is indicated by the SGU geological maps, with both the Alum Shale and the quartz-rich meta-sediments repeating within a nappe system.
The SGU glacial till survey shows multiple samples with anomalous uranium in the 3.5 to 11.4 ppm U range scattered all over Malgomaj nr 1003. In the central part of the area cover by the license application, several samples show anomalous vanadium up to 43.5 ppm V as well as anomalous phosphate up to 0.34 % P2O5 that is associated with REE of the Early Ordovician phosphatic siltstone in the Tåsjö area. This is further confirmed by the presence of anomalous lanthanum up to 32.7 ppm La in the glacial till samples from the same area. Molybdenum in the glacial till samples generally shows moderate anomalous values that reach up to 56 ppm Mo, while nickel shows values up to 46 ppm Ni.
Alum Shale has been confirmed within Malgomaj nr 1003, and eight grab samples showed values of up to 47 ppm U, 504 ppm V and 175 ppm Mo.
Österkälen nr 101 Mineral License
Österkälen nr 101 is covered by Alum Shales at surface as well as both the overlying carbonate-rich meta-sediments and the lower quartz-rich meta-sediments.
The historical airborne radiometric survey shows moderate uraniferous radiometric values with small but strongly radioactive areas in the south and north. Österkälen nr 101 is almost in its entirety characterized by a strong low-resistivity anomaly, based on the VLF airborne survey.
Tectonic thickening is likely given the presence of mapped overthrust faults.
No SGU glacial till surveys cover the area of this mineral license application or surrounding area.
Figure 1: Viken Property
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Figure 2: Tåsjö, Malgomaj, Österkälen Properties
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Technical Information
All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, PGeo, President and CEO of the Company. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The data disclosed in this news release is related to historical results. District has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. District considers these historical results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.
Mr. Ainsworth has not verified any of the information regarding any of the properties or projects referred to herein other than District's Properties. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on District's Properties.
About District Metals Corp.
District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company's mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders.
District is a polymetallic exploration and development company focused on the Viken and Tomtebo Properties in Sweden. The Viken Property covers 100% of the uranium-vanadium Viken Deposit, which is an asset with substantial exploration and development expenditures that resulted in the definition of large historic polymetallic resource estimates in 2010 and 2014. The Viken Deposit is amongst the largest deposits by total historic mineral resources of uranium and vanadium in the world.
The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District of south-central Sweden and is situated between the historic Falun Mine and Boliden's Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property along an approximate 17 km trend that exhibits similar geology, structure, alteration and VMS/SedEx style mineralization as other significant mines within the district.
For further information on the Tomtebo Property, please see the technical report entitled "NI 43-101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden" dated effective October 15, 2020 and amended and restated on February 26, 2021, which is available on SEDAR+ at www.sedarplus.ca.
On Behalf of the Board of Directors
"Garrett Ainsworth"
President and Chief Executive Officer
(604) 288-4430
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking Information"
This news release contains certain statements that may be considered "forward-looking information" with respect to the Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and any similar expressions. In addition, any statements that refer to expectations, predictions, indications, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking information in this news release relating to the Company include, among other things, statements relating to the Purchase Agreement and closing thereof; the Company's Swedish polymetallic properties; the Company's planned exploration activities, including its drill target strategy and next steps for the Swedish properties; and the Company's interpretations and expectations about the results on the Swedish properties.
These statements and other forward-looking information are based on opinions, assumptions and estimates made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this news release, including, without limitation, assumptions about the reliability of historical data and the accuracy of publicly reported information regarding past and historic mines in the Bergslagen district; and in respect of the intention of the Swedish government to eventually lift or amend its moratorium on uranium exploration and mining in Sweden; the Company's ability to raise sufficient capital to fund planned exploration activities, maintain corporate capacity; and stability in financial and capital markets.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: the reliability of historic data on District's properties; the Company's ability to raise sufficient capital to finance planned exploration; that the Swedish government maintains its moratorium on uranium exploration and mining in Sweden for the foreseeable future; the Company's limited operating history; the Company's negative operating cash flow and dependence on third-party financing; the uncertainty of additional funding; the uncertainties associated with early stage exploration activities including general economic, market and business conditions, the regulatory process, failure to obtain necessary permits and approvals, technical issues, potential delays, unexpected events and management's capacity to execute and implement its future plans; the Company's ability to identify any mineral resources and mineral reserves; the substantial expenditures required to establish mineral reserves through drilling and the estimation of mineral reserves or mineral resources; the uncertainty of estimates used to calculated mineralization figures; changes in governmental regulations; compliance with applicable laws and regulations; competition for future resource acquisitions and skilled industry personnel; reliance on key personnel; title matters; conflicts of interest; environmental laws and regulations and associated risks, including climate change legislation; land reclamation requirements; changes in government policies; volatility of the Company's share price; the unlikelihood that shareholders will receive dividends from the Company; potential future acquisitions and joint ventures; infrastructure risks; fluctuations in demand for, and prices of metals; fluctuations in foreign currency exchange rates; legal proceedings and the enforceability of judgments; going concern risk; risks related to the Company's information technology systems and cyber-security risks; and risk related to the outbreak of epidemics or pandemics or other health crises. For additional information regarding these risks, please see the Company's Annual Information Form dated July 11, 2022, under the heading "Risk Factors", which is available at www.sedarplus.ca. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company. These factors and assumptions, however, should be considered carefully. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of such factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to publicly update or revise such forward-looking information, except as required by applicable securities laws.
 SOURCE: District Metals Corp. |
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| To: LoneClone who wrote (22552) | 5/22/2024 12:58:52 PM | | From: LoneClone | | | | [Lithium]
Q2 Metals Field Crews Mobilize to Begin Spring 2024 Exploration at Cisco Lithium Property, James Bay Territory, Quebec, Canada
newsfilecorp.com
May 22, 2024 3:05 AM EDT | Source: Q2 Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2024) - Q2 Metals Corp. (TSXV: QTWO) (OTCQB: QUEXF) (FSE: 458) ("Q2" or the "Company") is pleased to announce that the Q2 geology team and drilling contractors have mobilized to begin its inaugural exploration program at the Cisco Lithium Property (the "Property" or the "Cisco Property").
The Company will commence a detailed mapping and sampling program at the Cisco Property which will provide guidance on the extent of the lithium mineralization at the initial target area and identify other potential target areas on the sizeable primary exploration trend measuring 21 kilometres ("km") long.
"Our geology team has arrived at our camp and work at the Cisco Property will ramp up this week," said Q2 Metals President and CEO Alicia Milne. "Our team is motivated by the property vendors' 2023 discovery and the massive scale of the project will keep us busy this summer."
Q2 will also commence an inaugural drill campaign ("Spring 2024 Drill Campaign") which will be focused on the 2023 discovery area. As the other target areas are assessed by the Q2 geology team, the Spring 2024 Drill Campaign may expand outwards.
Youdin-Rouillier Drilling of the Eeyou Istchee Territory, James Bay, Quebec is contracted to complete the diamond drilling with Dahrouge Geological Consulting Ltd. of Edmonton, Alberta managing the drill program and property-wide geological exploration.
Figure 1. Q2 Metals geologist standing on the 2023 discovery area
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About the Cisco Property
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. Located less than 10 km east of the Billy Diamond Highway, the Property is approximately 150 km north of Matagami and the closest rail link to much of James Bay. The Property lies within the greater Nemaska traditional territory of the Eeyou Istchee Territory, James Bay, Quebec.
The Property is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium District, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.
On February 28, 2024, the Company announced it had signed an option agreement which gives the Company the exclusive right and option for the acquisition of a 100% interest in three groups of minerals claims, collectively known as the Cisco Property (the "Transaction"). The Transaction is expected to close in short order.
Figure 2. Cisco Property Location Map
To view an enhanced version of this graphic, please visit:
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Qualified Person
Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director and VP Exploration of Q2.
Stock Option Grant
Pursuant to its equity incentive plan and subject to the acceptance by the TSX Venture Exchange, the Company has granted 1,500,000 stock options to directors, officers, and consultants of the Company to purchase an aggregate of 1,500,000 common shares in the capital of the Company at an exercise price of $0.31 per share until May 22, 2029.
About Q2 Metals Corp
Q2 Metals Corp. is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada that includes its 100% owned Mia Lithium Property. In addition, the Company expects to add the Cisco Lithium Property to its property portfolio once the Transaction closes.
The Company's exploration advancement at its 8,668-ha flagship Mia Lithium Property is focused on the more than 10-kilometre-long Mia Trend which is host to both the Mia 1 and Mia 2 lithium occurrences and 11 other mineralized zones along trend.
The Cisco Lithium Property is located approximately 150 km north of Matagami, Quebec and comprised of 222 mineral claims and is 11,374-ha in size. The property has district scale potential with an already identified mineralized zone and a discovery drill result of 115.4 m of 1.40% Li2O (hole CS-23-05), cumulatively in five separate pegmatites.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com
Jason McBride
Corporate Communications
Jason@Q2metals.com
Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com
www.Q2Metals.com
Follow the Company: Twitter, LinkedIn, Facebook, and Instagram
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company's properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward-looking statements in this news release include, but are not limited to, the commencement of a mapping and sampling program at the Cisco Property and inferences made therefrom, closing of the Transaction in short order, , that the Spring 2024 Drill Campaign will commence on the 2023 discovery area with the opportunity to increase as the results dictate, that the Q2 will add the Cisco Property to its property portfolio, the focus of the Company's current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company's expectations in connection with the projects and exploration programs being met, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 SOURCE: Q2 Metals Corp. |
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