| To: LoneClone who wrote (159429) | 9/29/2021 5:14:01 PM | | From: LoneClone | | | | Global Energy Metals Secures Drill Contractor and Prepares to Mobilize for First-Ever Drill Program at the Lovelock Cobalt-Nickel-Copper Project in Nevada
thenewswire.com
  Vancouver, BC - TheNewswire - September 29, 2021 - Global Energy Metals Corporation ( TSXV:GEMC) | ( OTCQB:GBLEF) | ( FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a company involved in the investment exposure to the battery metals supply chain, is pleased to announce that it has secured O’Keefe Drilling Company, an established drill contractor based in Butte, Montana, to complete up to 1,000 metres of reverse circulation drilling at its district-scale, Lovelock Cobalt-Nickel-Copper project (“Lovelock”) located in the prolific IOCG belt of the Stillwater Range in Nevada, USA.
Highlights
- Up to 1,000 metres of targeted reverse-circulation drilling;
- Drilling will focus on making new copper-nickel-cobalt discoveries along newly defined conductors at Lovelock;
- Recent geophysics studies have identified high-priority drill targets that complement the exploration fieldwork previously conducted;
- There is strong discovery potential in and around the Lovelock properties as well as at regional targets identified; and
- Modern exploration techniques and methods are being utilized at the Company’s U.S. properties with a goal of making new discoveries of battery metals critical to the technologies enabling a low-carbon economy.
Timothy Strong, Global Energy Metals’ Project Development Manager commented:
“In addition to having historical mining of high-grade cobalt, nickel and copper, recent electromagnetic and exploration fieldwork suggests that the land package that makes up Lovelock remains highly prospective for making new discoveries and that the extensive system has the potential for high grades. We look forward to commencing this initial drill program at Lovelock and will be systematically testing additional regional targets in the coming months.”
The majority of the first pass drilling program this season will be focused on confirming intersections of cobalt-nickel-copper bearing vein that correlates with historical underground mining and mapped superficial cobalt-nickel-copper occurrences. It is anticipated the drill program will demonstrate broader mineralization across the width and depth of the occurrence which remains open in all directions.
As previously reported in late 2020, an independent interpretation of the regional structure of the Lovelock property, specifically in the vicinity of the historical mining of high-grade cobalt and nickel that occurred at the Lovelock Mine suggest that the Lovelock Mine is located within a corridor of strong structural control with several subparallel structures indicating the potential for multiple mineralized zones related to these structures. Importantly, the geophysics study has identified high-priority drill targets that complement the exploration fieldwork previously conducted.
The data interpretation has allowed for a better understanding of the area, extending from previously mined orebodies to key undeveloped prospects and exploration targets, and greatly enhances the Company’s ability to successfully target and explore for new, buried, high-grade cobalt-nickel-copper deposits across the large footprint in a highly prospective mining district.
Qualified Person
Mr. Paul Sarjeant, P. Geo., is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Global Energy Metals Corporation
(TSXV:GEMC | OTC:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.
Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a ‘consolidate, partner and invest’ approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believe the the time to be part of this electrification movement.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
Subscribe to the GEMC eNewsletter
Cautionary Statement on Forward-Looking Information:
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals 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. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
Neither 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.
We seek safe harbour.
|
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| To: LoneClone who wrote (159430) | 9/29/2021 5:15:26 PM | | From: LoneClone | | | | Engineer Gold Mines Announces Approval of Exploration and Mill Enclosure Construction Permits
thenewswire.com
September 29, 2021 – TheNewswire - Vancouver, British Columbia – Engineer Gold Mines Ltd. (the “Company” or “Engineer”) (TSXV:EAU) (OTC:EGMLF) is pleased to announce it has received permit approvals for exploration and construction activities at its Engineer Gold Mine project near Atlin, BC.
The Company has received approval to construct a 32m x 32m enclosure (building) over it’s existing 30 tonne per day mill. This work will proceed in support of the proposed 10,000-tonne bulk sample permit application Engineer submitted to regulators in February 2021, as part of its Notice of Work.
The Company received additional approval to complete surface diamond drilling on 10 drill sites capable of multiple drill holes per site within an area around the historic Engineer Mine complex. The Company is currently in the planning phase of a fall drill program which will support its bulk sample permit application.
Company president Andrew H. Rees commented “The application process has been a challenging endeavour in British Columbia in 2021 due to lengthy delays brought about by the covid pandemic. The Company is encouraged to now be working proactively with governmental regulatory bodies as it pursues approval to proceed with its previously announced 10,000 tonne bulk sample. Further news will be forthcoming regarding Company activities centered around its bulk sample permit application, construction and exploration programs.”
About Engineer Gold Mines Ltd.
Engineer Gold Mines Ltd. is focused on reestablishing gold production at the Company’s 100%-owned, historical high-grade Engineer Gold Mine, 32km southwest of Atlin, BC. Exploration and development work has identified numerous high-grade vein and shear-hosted bulk-tonnage gold targets over the Company’s 25 km long (18,319 hectare) contiguous claim grouping, which includes prospects: Wann River, 5 km to the southwest; Happy Sullivan, 3 km to the northeast; and TAG, acquired in 2020, 7 km to the north, of the historical Engineer Mine.
For additional information please visit the company website at www.engineergoldmines.com.
On Behalf of the Board of Directors
Engineer Gold Mines Ltd.
“Andrew H. Rees”
Mr. Andrew H. Rees
President
Contact Information:
Andrew H. Rees: 604-505-3739
Email: andrewhr@engineergoldmines.com
Cautionary Note Regarding Forward-Looking Statements
Neither 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. This news release contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Engineer Gold Mines Ltd. which may cause actual results, performance or achievements of Engineer Gold Mines Ltd. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. 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. |
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| To: LoneClone who wrote (159431) | 9/29/2021 5:22:00 PM | | From: LoneClone | | | | GoGold Drills 1,956 g/t AgEq over 1.0m within 6.1m of 526 g/t AgEq at Newly Drilled Mololoa in Los Ricos North
ca.finance.yahoo.com
Wed., September 29, 2021, 3:30 a.m.
Shares Outstanding: 277,766,117
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS, Sept. 29, 2021 /CNW/ - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to release the initial drill holes at Mololoa within Los Ricos North, which is located approximately one kilometre north of the El Favor deposit and may be an easterly extension of the Casados deposit. Hole LRGM-21-006 intersected 1.0m of 1,956 g/t silver equivalent ("AgEq"), within 6.1m of 526 g/t AgEq. See Table 1 for breakdown of silver and gold values.
"These are the first holes drilled at Mololoa which show a vein structure with high grades of silver and gold that we believe will add additional ounces and grade to the upcoming initial resource at Los Ricos North," said Brad Langille, President and CEO. "We encountered numerous old workings while drilling Mololoa and will attempt to drill below the level of the old workings, so we are able to see the full extent of the intact mineralized zone."
Table 1: Drill Hole Intersections
Hole ID
| Area/Vein
| From
| To
| Length1
| Au
| Ag
| AuEq2
| AgEq2
|
|
| (m)
| (m)
| (m)
| (g/t)
| (g/t)
| (g/t)
| (g/t)
| LRGM-21-001
| Soledad Vein
| 8.6
| 18.5
| 9.9
| 0.21
| 67.1
| 1.10
| 82.6
|
| including
| 15.0
| 17.2
| 2.2
| 0.46
| 163.5
| 2.64
| 197.7
| LRGM-21-002
| Mined Void
| 14.1
| 18.5
| 4.4
| *
| *
| *
| *
|
| Soledad Vein
| 18.5
| 21.4
| 2.9
| 0.18
| 100.0
| 1.51
| 113.3
| LRGM-21-003
| Soledad Vein
| 34.5
| 42.3
| 7.8
| 0.38
| 162.2
| 2.54
| 190.5
|
| including
| 35.4
| 37.7
| 2.3
| 1.08
| 456.2
| 7.16
| 537.4
| LRGM-21-004
| Mined Void
| 45.0
| 48.6
| 3.6
| *
| *
| *
| *
|
| Soledad Vein
| 48.6
| 61.6
| 13.0
| 0.06
| 86.3
| 1.21
| 90.6
|
| including
| 52.3
| 55.4
| 3.1
| 0.13
| 182.6
| 2.56
| 192.1
| LRGM-21-005
| Soledad Vein
| 46.5
| 61.3
| 14.8
| 0.02
| 49.0
| 0.67
| 50.6
|
| including
| 57.0
| 61.3
| 4.3
| 0.05
| 89.3
| 1.24
| 92.9
| LRGM-21-006
| Mined Void
| 104.0
| 109.7
| 5.7
| *
| *
| *
| *
|
| Soledad Vein
| 109.7
| 115.8
| 6.1
| 0.95
| 454.7
| 7.01
| 525.7
|
| including
| 110.8
| 112.8
| 2.0
| 2.58
| 1,177.5
| 18.28
| 1,371.2
|
| including
| 111.8
| 112.8
| 1.0
| 3.95
| 1,660.0
| 26.08
| 1,956.3
| LRGM-21-007
| Soledad Vein
| 9.9
| 17.5
| 7.6
| 0.34
| 83.1
| 1.45
| 108.7
|
| including
| 14.0
| 16.0
| 2.0
| 0.66
| 137.0
| 2.49
| 186.5
| LRGM-21-008
| Soledad Vein
| 18.1
| 29.1
| 11.0
| 0.83
| 276.3
| 4.51
| 338.5
|
| including
| 23.9
| 26.1
| 2.2
| 2.11
| 774.5
| 12.43
| 932.4
|
| including
| 23.9
| 24.5
| 0.6
| 3.63
| 1,180.0
| 19.36
| 1,452.3
| LRGM-21-009
| Mined Void
| 6.3
| 9.0
| 2.7
| *
| *
| *
| *
|
| Soledad Vein
| 13.1
| 25.1
| 12.0
| 0.16
| 58.1
| 0.93
| 69.8
|
| including
| 20.3
| 24.1
| 3.8
| 0.32
| 78.9
| 1.37
| 102.9
| LRGM-21-010
| Soledad Vein
| 22.0
| 33.5
| 11.5
| 0.09
| 26.3
| 0.44
| 33.4
|
| including
| 23.0
| 25.0
| 2.0
| 0.47
| 67.5
| 1.37
| 102.5
|
| and
| 81.9
| 83.0
| 1.1
| 0.37
| 128.0
| 2.08
| 156.0
| LRGM-21-011
| Tamara Vein
| 26.0
| 31.4
| 5.4
| 1.02
| 196.0
| 3.63
| 272.2
|
| including
| 28.5
| 30.4
| 2.0
| 1.68
| 317.4
| 5.91
| 443.3
|
| including
| 28.5
| 29.0
| 0.6
| 3.46
| 418.0
| 9.03
| 677.5
| LRGM-21-012
| Soledad Vein
| 114.2
| 121.8
| 7.6
| 0.14
| 80.0
| 1.21
| 90.5
|
| including
| 118.7
| 120.3
| 1.6
| 0.32
| 197.3
| 2.95
| 221.5
| LRGM-21-013
| Tamara Vein
| 26.4
| 31.8
| 5.5
| 1.64
| 298.9
| 5.62
| 421.8
|
| including
| 28.5
| 31.2
| 2.7
| 2.96
| 532.2
| 10.06
| 754.4
|
| including
| 28.5
| 29.5
| 0.9
| 4.50
| 607.0
| 12.59
| 944.5
|
| and
| 41.6
| 42.8
| 1.2
| 0.54
| 143.0
| 2.44
| 183.2
| LRGM-21-014
| Soledad Vein
| 28.4
| 41.0
| 12.7
| 0.42
| 178.0
| 2.79
| 209.5
|
| including
| 33.7
| 36.3
| 2.6
| 1.56
| 595.0
| 9.49
| 711.7
|
| including
| 33.7
| 34.6
| 0.9
| 1.67
| 922.0
| 13.96
| 1,046.9
| LRGM-21-015
| Tamara Vein
| 46.1
| 46.7
| 0.7
| 0.10
| 39.4
| 0.62
| 46.5
| LRGM-21-016
| Soledad Vein
| 42.9
| 47.7
| 4.9
| 0.29
| 69.8
| 1.22
| 91.5
|
| including
| 43.6
| 46.7
| 3.2
| 0.39
| 93.6
| 1.64
| 123.0
| LRGM-21-017
| Soledad Vein
| 116.0
| 120.0
| 4.0
| 0.79
| 263.8
| 4.30
| 322.9
|
| including
| 116.0
| 118.3
| 2.3
| 1.33
| 437.4
| 7.16
| 537.1
|
| including
| 116.9
| 117.6
| 0.7
| 3.67
| 1,080.0
| 18.07
| 1,355.3
| LRGM-21-018
| Tamara Vein
| 30.2
| 32.0
| 1.8
| 0.44
| 45.5
| 1.04
| 78.2
|
| and
| 98.0
| 99.0
| 1.0
| 0.39
| 117.0
| 1.95
| 145.9
|
| and
| 107.0
| 107.9
| 0.8
| 0.80
| 152.0
| 2.83
| 212.1
|
| and
| 143.0
| 144.5
| 1.5
| 0.01
| 218.0
| 2.92
| 218.8
| LRGM-21-021
| Mined Void
| 43.2
| 44.5
| 1.3
| *
| *
| *
| *
|
| Soledad Vein
| 89.0
| 89.5
| 0.5
| 0.07
| 92.0
| 1.30
| 97.3
| LRGM-21-022
| Soledad Vein
| 53.0
| 58.5
| 5.5
| 0.34
| 145.4
| 2.28
| 170.7
|
| including
| 54.3
| 56.5
| 2.3
| 0.74
| 280.2
| 4.48
| 336.0
| LRGM-21-023
| Soledad Vein
| 7.7
| 9.0
| 1.3
| 0.34
| 40.6
| 0.88
| 66.0
| LRGM-21-024
| Tamara Vein
| 116.9
| 120.9
| 4.0
| 0.29
| 63.4
| 1.14
| 85.1
|
| including
| 116.9
| 118.5
| 1.6
| 0.55
| 128.4
| 2.26
| 169.4
| LRGM-21-025
| Soledad Vein
| 16.9
| 23.5
| 6.7
| 0.22
| 66.4
| 1.10
| 82.8
|
| including
| 19.9
| 21.9
| 2.0
| 0.54
| 132.0
| 2.30
| 172.1
|
| including
| 19.9
| 20.9
| 1.0
| 0.60
| 165.0
| 2.80
| 210.0
| LRGM-21-026
| Soledad Vein
| 10.7
| 16.3
| 5.6
| 0.25
| 54.4
| 0.98
| 73.3
|
| including
| 13.5
| 16.3
| 2.9
| 0.38
| 77.7
| 1.41
| 105.8
| LRGM-21-027
| Soledad Vein
| 87.5
| 120.5
| 33.0
| 0.02
| 30.2
| 0.43
| 32.0
|
| including
| 94.6
| 97.4
| 2.8
| 0.03
| 71.3
| 0.98
| 73.2
|
1.
| Not true width
| 2.
| AqEq converted using a silver to gold ratio of 75:1 at recoveries of 100%
| 3.
| Hole LRGM-21-019 and LRGM-21-020 are excluded as they did not intercept significant mineralization
|
Figure 1: Mololoa Plan View
Figure 1: Mololoa Plan View (CNW Group/GoGold Resources Inc.)
Figure 2: Cross Section LRGM-21-006 & LRGM-21-014
Figure 2: Cross Section LRGM-21-006 & LRGM-21-014 (CNW Group/GoGold Resources Inc.)
Figure 3: Plan View – La Trini to El Favor Area of Los Ricos North
Figure 3: Plan View – La Trini to El Favor Area of Los Ricos North (CNW Group/GoGold Resources Inc.)
Table 2: Drill Hole Locations
Hole ID
| Easting
| Northing
| Elevation
| Azimuth
| Dip
| Length
| LRGM-21-001
| 584713
| 2337783
| 1040
| 245
| -60
| 154.4
| LRGM-21-002
| 584726
| 2337761
| 1034
| 240
| -60
| 109.5
| LRGM-21-003
| 584966
| 2337646
| 1013
| 210
| -60
| 160.5
| LRGM-21-004
| 585168
| 2337668
| 964
| 210
| -50
| 160.0
| LRGM-21-005
| 585169
| 2337668
| 964
| 180
| -50
| 172.5
| LRGM-21-006
| 584926
| 2337808
| 1038
| 240
| -50
| 200.0
| LRGM-21-007
| 584731
| 2337737
| 1032
| 240
| -60
| 118.0
| LRGM-21-008
| 584707
| 2337814
| 1043
| 240
| -60
| 107.1
| LRGM-21-009
| 584887
| 2338029
| 1019
| 240
| -50
| 194.0
| LRGM-21-010
| 584897
| 2338089
| 993
| 240
| -50
| 221.0
| LRGM-21-011
| 584891
| 2338277
| 901
| 240
| -50
| 54.2
| LRGM-21-012
| 584935
| 2337788
| 1047
| 240
| -55
| 209.2
| LRGM-21-013
| 584890
| 2338276
| 901
| 240
| -55
| 228.5
| LRGM-21-014
| 584761
| 2337727
| 1039
| 240
| -50
| 83.0
| LRGM-21-015
| 584803
| 2338305
| 913
| 240
| -50
| 173.2
| LRGM-21-016
| 584773
| 2337706
| 1046
| 240
| -50
| 113.0
| LRGM-21-017
| 584947
| 2337776
| 1050
| 240
| -55
| 164.0
| LRGM-21-018
| 584773
| 2338342
| 942
| 240
| -50
| 151.7
| LRGM-21-019
| 584770
| 2337774
| 1026
| 240
| -60
| 101.0
| LRGM-21-020
| 584695
| 2337832
| 1045
| 240
| -50
| 89.0
| LRGM-21-021
| 584772
| 2338342
| 941
| 240
| -80
| 163.5
| LRGM-21-022
| 584782
| 2337683
| 1043
| 240
| -50
| 101.0
| LRGM-21-023
| 584676
| 2337853
| 1036
| 240
| -50
| 98.0
| LRGM-21-024
| 584810
| 2338338
| 936
| 240
| -50
| 184.9
| LRGM-21-025
| 584713
| 2337843
| 1035
| 240
| -50
| 110.0
| LRGM-21-026
| 584746
| 2337778
| 1031
| 240
| -60
| 86.0
| LRGM-21-027
| 584913
| 2337842
| 1016
| 240
| -55
| 152.0
|
VRIFY Slide Deck and 3D Presentation
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.
Access the GoGold Company Profile on VRIFY at: c212.net
The VRIFY Slide Deck and 3D Presentation for GoGold can be viewed at: c212.net and on the Company's website at: www.gogoldresources.com.
Los Ricos District Exploration Projects
The Company's two exploration projects at its Los Ricos property are in Jalisco state, Mexico. The Los Ricos South Project began in March 2019 and an initial resource was announced on July 29, 2020 which indicated a Measured & Indicated Mineral Resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an Inferred Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes. An initial PEA on the project was announced on January 20, 2021 indicating an NPV5% of US$295M.
The Los Ricos North Project was launched in March 2020 and includes drilling at the El Favor, La Trini, Mololoa, Casados and El Orito targets. During 2020, GoGold's exploration team identified over 100 targets on the Los Ricos North properties, demonstrating the significant exploration potential. The Company plans to drill 10 of these targets as part of its 2021 drilling program which is planned to exceed 100,000 metres of drilling and will be one of the largest in Mexico.
Procedure, Quality Assurance / Quality Control and Data Verification
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work.
The sealed and tagged sample bags are transported to the ALS Chemex facility in Zacatecas, Mexico. ALS Chemex crushes the samples and prepares 200-300 gram pulp samples with ninety percent passing Tyler 150 mesh (106µm). The pulps are assayed for gold using a 30-gram charge by fire assay (Code AA23) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code ME-GRAV21). Silver and multi-element analysis is completed using total digestion (Code ME-ICP61 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (ME-GRA21).
Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed GoGold's QA/QC protocols.
Mr. David Duncan, P. Geo. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this release.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.
CAUTIONARY STATEMENT:
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.
This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Los Ricos South and North projects, and future plans and objectives of GoGold, including the intention to undertake further exploration at Los Ricos North, and the prospect of further discoveries there, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.
Cision
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SOURCE GoGold Resources Inc.
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| To: LoneClone who wrote (159432) | 9/29/2021 5:23:55 PM | | From: LoneClone | | | | Monarch Mining Reports its Results for the Quarter and 232-Day Period Ended June 30, 2021
ca.finance.yahoo.com
Corporation minière Monarch
Tue., September 28, 2021, 1:48 p.m.·4 min read
MONTREAL, Sept. 28, 2021 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) reported its results today for the quarter and 232-day period ended June 30, 2021. Amounts are in Canadian dollars unless otherwise indicated.
Summary of financial results
(In dollars, except per share data)
| 232-DAY PERIOD ENDED
JUNE 30,
2021
|
| THREE MONTHS ENDED
JUNE 30,
2021
|
| Administration
| 1,761,466
|
| 1,176,022
|
| Care and maintenance
| 2,757,758
|
| 1,794,899
|
| Exploration
| 3,471,155
|
| 2,229,013
|
| Income tax recovery deferred mining taxes
| (1,766,907)
|
| (1,790,126)
|
| Net loss
| (5,598,402)
|
| (2,837,751)
|
| Net loss per share, basic and diluted
| (0.12)
|
| (0.04)
|
|
“Since being listed on January 26 as the new entity Monarch Mining Corporation, we have made great progress and are now well on our way to restarting operations at the Beaufor Mine, aiming to increase the mine’s previous annual production,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “At the moment, we are getting the Beaufor Mine and Beacon Mill ready to start the pre-production phase start this fall, and we are continuing to recruit personnel to that we can start commercial production by June 2022. On the exploration side, the 42,500-metre drilling program is ongoing at Beaufor, with four underground drills currently on site, and we are extremely pleased with the results to date.”
“Thanks to strategic financings undertaken during the year, we have managed to increase our cash and balance-of-sale-receivable position to approximately $38 million as at September 15, 2021, while minimizing share dilution for our shareholders. We also continue to move work forward on our other advanced projects, McKenzie Break and Croinor Gold, which both have excellent exploration potential,” concluded Mr. Lacoste.
About Monarch
Monarch Mining Corporation (TSX: GBAR) is a fully integrated mining company that owns four advanced projects, including the fully permitted past-producing Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other advanced assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned and fully permitted Beacon 750 tpd mill. Monarch owns 28,702 hectares (287 km2) of mining assets in the prolific Abitibi mining camp that host 714,982 ounces of combined measured and indicated gold resources and 421,793 ounces of combined inferred resources.
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.
FOR MORE INFORMATION:
Table 1: Monarch combined gold resources
| Tonnes
(metric)
| Grade
(g/t Au)
| Ounces
| Beaufor Mine1
|
|
|
| Measured Resources
| 328,500
| 5.7
| 59,900
| Indicated Resources
| 956,400
| 5.2
| 159,300
| Total Measured and Indicated
| 1,284,900
| 5.3
| 219,200
| Total Inferred
| 818,900
| 4.7
| 122,500
| Croinor Gold2
|
|
|
| Measured Resources
| 80,100
| 8.44
| 21,700
| Indicated Resources
| 724,500
| 9.20
| 214,300
| Total Measured and Indicated
| 804,600
| 9.12
| 236,000
| Total Inferred
| 160,800
| 7.42
| 38,400
| McKenzie Break3
|
|
|
| In-pit
|
|
|
| Total Indicated
| 1,441,377
| 1.80
| 83,305
| Total Inferred
| 2,243,562
| 1.44
| 104,038
| Underground
|
|
|
| Total Indicated
| 387,720
| 5.03
| 62,677
| Total Inferred
| 1,083,503
| 4.21
| 146,555
| Swanson4
|
|
|
| In-pit
|
|
|
| Total Indicated
| 1,864,000
| 1.76
| 105,400
| Total Inferred
| 29,000
| 2.46
| 2,300
| Underground
|
|
|
| Total Indicated
| 91,000
| 2.86
| 8,400
| Total Inferred
| 87,000
| 2.87
| 8,000
| TOTAL COMBINED5
Measured and Indicated Resources
Inferred Resources
|
|
| 714,982
421,793
|
| 1 Source: Mineral Resource Estimate of the Beaufor Mine Project, July 23, 2021, Val-d’Or, Québec, Canada, Charlotte Athurion, P. Geo., Clovis Auger, P. Geo. and Dario Evangelista P. Eng., BBA Inc.
2 Source: Monarch Gold prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016). This resource estimate was prepared for Monarch Gold and has not been reviewed by a qualified person for Monarch Mining as required under National Instrument 43-101 and is thus considered as an historical estimate.
3 Source: NI 43-101 Technical Evaluation Report on the McKenzie Break Property, February 1, 2021, Val-d’Or, Québec, Canada, Alain-Jean Beauregard, P.Geo., Daniel Gaudreault, P.Eng., Geologica Groupe-Conseil Inc., and Merouane Rachidi, P.Geo., Claude Duplessis, P.Eng., GoldMinds GeoServices Inc.
4 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the Swanson Project, January 22, 2021, Val-d’Or, Québec, Canada, Christine Beausoleil, P. Geo. and Alain Carrier, P. Geo., InnovExplo Inc.
5 Numbers may not add up due to rounding.
|
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| To: LoneClone who wrote (159433) | 9/29/2021 5:28:06 PM | | From: LoneClone | | | | GoldON Makes New Gold Discoveries on McInnes Lake Property North of Ontario's Red Lake Gold Camp
Results reveal five new gold showings in a variety of environments
newsfilecorp.com
Victoria, British Columbia--(Newsfile Corp. - September 29, 2021) - GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to announce it has received results from its initial mapping and sampling program completed on the McInnes Lake property (the "Property") in northwestern Ontario. Results of the program reveal the discovery of five new gold showings in a variety of environments not historically recorded within the entire greenstone belt.
Highlights include:
- A grab sample of a 10-centimetre quartz vein within granodiorite with 1% pyrite returned 3.56 g/t Au, 3135 ppm As, 1% Zn, and 1212 ppm Pb. This is the highest recorded gold sample in the belt and appears to be polymetallic veining within a granodiorite body.
- Sampling of unsampled drill core from a hole drilled by Cominco in 1979 returned values up to 400 ppb Au from biotized mafic volcanics with 0.5% fine pyrite and pyrrhotite. The core was located on an island at a Cominco core storage location indicated by an assessment report map in a large heap and partially identifiable by tags.
- Grab samples of weakly sheared, hematized sandstone with quartz stringers and trace pyrite and chalcopyrite returned from 70 to 244 ppb Au in outcrop and angular float boulders separated by over 700m. This is a newly recognized host for gold mineralization in the McInnes greenstone belt and may be extensive along strike.
- Banded iron-formation hosted gold mineralization in angular float boulders with samples returning up to 269 ppb Au and up to 1.28% Cu and 22.58 ppm Ag. Iron formation hosted gold deposits in Canadian Archean greenstone belts are and have been important gold production contributors (Musselwhite, Pickle Lake gold camp, Geraldton gold camp, and Meadowbank).
- A grab sample of mafic metavolcanic schist with 7-10% pyrite returned 444 ppb Au as well as 0.34% Cu and 0.32% Zn, suggestive of a VMS environment.
Grab samples are selective in nature and not necessarily representative of the mineralization on the Property.
"We recognized the McInnes greenstone had all the characteristics conducive to orogenic gold mineralization but had no systematic exploration in over 25 years. Thus, we staked the whole belt," says Mike Romanik, president of GoldON. "We are pleased with the results of our first-pass reconnaissance prospecting and mapping. Having discovered gold mineralization in several different gold model types, we are looking forward to returning and expanding on these footprints."
About the McInnes Greenstone Belt:
Located approximately 117 kilometres (km) north of Red Lake, the 11,424-hectare Property is 29 km long by up to 8.5 km and covers the majority of the McInnes Lake Greenstone Belt. Comprised of a volcanic-sediment package of rocks representing a back-arc environment 'sandwiched' in between two opposing granitic masses, age-dating of the McInnes Lake Greenstone Belt volcanic rocks has determined they are 2.93-2.97 billion years old representing Balmer Assemblage aged lithologies (OGS P3589). The Balmer Assemblage is host to the gold mines of the Red Lake Camp.
Figure 1: Regional Map with location of McInnes Lake Property and GoldON's other Projects (click to enlarge)
To view an enhanced version of Figure 1, please visit:
newsfilecorp.com
Orix Geoscience was engaged to compile and analyze historical data to create a 2D GIS compilation and geologically assess the Property for exploration targets of high merit and recommend an exploration strategy. Orix identified four prominent regional features through compilation and the interpretation of an Ontario Geological Survey (OGS) conducted airborne magnetic and VLF-EM survey in 2008.
The initial fieldwork consisted of prospecting, mapping, and lake sediment sampling which focused on the four core areas identified by Orix in the vastly underexplored claim package. The fieldwork was carried out by Emerald Geological Services led by Bruce MacLachlan, whose long-standing career has been instrumental in the discovery of the Eagle River gold mine located in the Mishibishu greenstone belt currently being mined by Wesdome and the Sugar Zone located east of Hemlo currently being mined by Harte Gold.
Mike Kilbourne, P.Geo., an independent Qualified Person as defined in NI 43-101, has reviewed and approved the contents of this news release on behalf of the Company.
About GoldON Resources Ltd.
GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes six properties in the Red Lake Mining Division (West Madsen, Red Lake North, Pipestone Bay, Pakwash North, McInnes Lake, and McDonough) and a seventh property in the Patricia Mining Division (Slate Falls).
For additional information: please visit our website at goldonresources.com, you can download our latest investor presentation by clicking here and you can follow us on Twitter at newsfilecorp.com.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: info@goldonresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements" that involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither 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. |
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| To: LoneClone who wrote (159434) | 9/29/2021 5:34:29 PM | | From: LoneClone | | | | NOVAGOLD Reports Third Quarter 2021 Financial Results
ca.finance.yahoo.com
NOVAGOLD RESOURCES INC.
Wed., September 29, 2021, 2:05 p.m.·26 min read
Donlin Gold LLC Board Approves Additional 2021 Funding for
New Feasibility Study Prework
Expanded 2021 Donlin Gold Drill Program Yields Significant High-Grade Intercepts, Some of Which Point to Potential Feeder Zones
Donlin Gold Camp Remained Free of COVID-19
Key Permits Advanced and Financial Position Further Strengthened
Expanded 2021 Donlin Gold drill program, consisting of 79 holes totaling approximately 24,200 meters, is nearing completion. The owners reported initial assay results from 29 holes (18 complete, 11 partial) encompassing approximately 7,500 meters of length drilled. The program has been enormously rewarding, yielding significant new high-grade intercepts in ACMA and an area between the ACMA and Lewis deposits (“Divide”) that point toward the potential feeder zones of this large system. Additional assay results will be released to the market as they become available.
Donlin Gold LLC Board approved an additional $3 Million in 2021 to advance studies and increase staffing in preparation for the new feasibility study.
With all key Federal and most key State permits in hand, Donlin Gold continued to advance additional State permits, including receipt of final 12 water rights permits. The Alaska Department of Natural Resources (ADNR) Commissioner’s Office completed its review of a reconsideration request and upheld the natural gas pipeline State right-of-way agreement and lease authorization (“State ROW”).
NOVAGOLD received $75 million from Newmont Corporation (“Newmont”), further strengthening its already robust treasury. NOVAGOLD’s third quarter cash and term deposits totaled $173.3 million. An additional payment of $25 million from Newmont comes due in 2023.
VANCOUVER, British Columbia, Sept. 29, 2021 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. (“NOVAGOLD” or “the Company”) (NYSE American, TSX: NG) today released its 2021 third quarter financial results and an update on its Tier One1 Donlin Gold project (“Donlin Gold” or the “project”), which NOVAGOLD owns equally with Barrick Gold Corporation (“Barrick”).
Details of the financial results for the quarter ended August 31, 2021 are presented in the consolidated financial statements and quarterly report filed September 29, 2021 on Form 10-Q with the SEC that is available on the Company’s website at www.novagold.com, on EDGAR at www.sec.gov, and on SEDAR at www.sedar.com. All amounts are in U.S. dollars unless otherwise stated and all mineral resource and mineral reserve estimates are shown on a 100% project basis.
Third Quarter Highlights and Updates
The 2021 Donlin Gold drill program site activities are wrapping up for the year.
Assays from 29 holes (18 complete and 11 partial), encompassing approximately 7,500 meters of drilling, were disclosed in a joint Barrick-NOVAGOLD media release dated September 2, 2021.
The drilling was completed in late September, consisting of 79 holes totaling approximately 24,200 meters.
The program revealed significant high-grade drill-hole intercepts, particularly in ACMA and in the Divide zone, pointing toward potential feeder zones of this large system.
Examples of high-grade drill-hole intercepts include drill-hole DC-1970 intersected 92.02 m grading 7.8 g/t gold; drill-hole DC21-1963A intersected 40.97 m grading 10.5 g/t gold; and drill-hole DC-1969 intersected 47.78 m grading 9.0 g/t gold. For a more extensive description of recent drill results, please refer to a joint Barrick-NOVAGOLD media release dated September 2, 2021.
In order to minimize the risks posed by COVID-19, NOVAGOLD is continuing to maintain a wide-ranging set of health and safety policies at its offices, and, in conjunction with Barrick, at Donlin Gold. These measures are designed to ensure the safety and well-being of all employees, contractors and all individuals associated with the Company.
In August 2021, Donlin Gold enhanced its Community and Workforce Protection Plan to ensure the safety and well-being of its workforce, employees’ families, and local communities for the remainder of the 2021 field season. Employees and contractors are subject to mandatory COVID-19 testing prior to traveling to camp as well as upon arrival.
Donlin Gold employed a local workforce from 20 Yukon-Kuskokwim (Y-K) communities for the 2021 season – approximately 70% of Donlin Gold direct hires for this year’s drill program were Alaska Natives. Donlin Gold, together with its Native Corporation partners Calista Corporation (“Calista”) and The Kuskokwim Corporation (TKC), carried out a wide range of community engagement and support initiatives during the quarter:
In August 2021, Donlin Gold partnered with the Delta Backhaul Company, Association of Village Council Presidents (AVCP), and other regional partners on the fourth “In It For The Long Haul” backhaul project to collect, remove, and safely dispose of approximately 180,000 pounds of household hazardous and electronic waste from 26 Y-K villages.
Finalized a Shared Value Statement with Upper Kalskag for a total of eight Shared Value Statements in the Y-K region.
Advancing State permitting, methodically:
All 12 water rights permits were finalized and issued by ADNR’s Division of Mining Land and Water on June 29, 2021. In July, the water rights permit issuance was administratively appealed by an Environmental Non-Governmental Organization (ENGO) representing five tribal groups in the Y-K region. A decision on the appeal is anticipated in 2022.
In April 2020, the ADNR’s Division of Oil and Gas agreed to reconsider its decision on the State ROW for the buried natural gas pipeline. On July 19, 2021, the ADNR Commissioner completed the reconsideration and upheld the State ROW. In September, two appeals of the State ROW were filed in Alaska Superior Court, one by an ENGO representing several tribal groups and one by an outdoor recreational business owner in the pipeline area.
In June 2021, the Clean Water Act (CWA) Section 401 certification (the “401 Certification”) of the CWA Section 404 permit was appealed in Alaska Superior Court by an ENGO representing Orutsararmiut Native Council (ONC).
President’s Message
Fulfilling Commitments and Embarking on a New Era at Donlin Gold
As we reach the fall and onset of winter in Alaska, we can look back on many achievements in the last quarter and the year to date: nearing the successful completion of the expanded 2021 drill program; the excitement and indications of the potential feeder zones for the ACMA and Lewis deposits; the fulfillment of commitments made and enrichment of relationships with our partnerships at Barrick, Calista, and TKC; and, the approval by the Donlin Gold LLC Board of additional funding in 2021 in preparation for a new feasibility study for the Donlin Gold project.
Barrick and NOVAGOLD executives had very productive meetings jointly reviewing the 2021 drill results to date and ongoing technical work during their Anchorage and Donlin Gold project site visit in early September 2021. The Donlin Gold LLC Board subsequently approved an additional $3 million for 2021 to advance studies and increase staffing needed to lay the foundation for a new feasibility study.
Activities for the 2021 drill program at the Donlin Gold project are now wrapping up. There were four drill rigs operating at the project site in the ACMA and Lewis deposits for the approximately 24,200-meter, 79-hole program. The owners reported initial assay results from 29 holes (18 complete, 11 partial) for approximately 7,500 meters of length drilled to-date. Some notable high-grade gold intercepts were encountered. These were similar to the high-grade gold intercepts that we saw in previous drill programs. Our geologic knowledge of the deposits also improved. The program yielded significant results that point toward the potential feeder zones of this large system. With drilling for the 2021 program completed in late September, additional assay results will be released as they become available.
Donlin Gold is being prepared to be a model mine for the industry. Recent results are only reinforcing the conviction that it will be a generational mine with an exceptionally long mine life already currently measured in decades. With approximately 39 million ounces of gold in measured and indicated mineral resources grading 2.24 grams per tonne2, Donlin Gold’s scale and grade, at twice the industry average3, in a safe, Tier One jurisdiction4 such as Alaska, is simply unparalleled and brings with it the coveted stability of a mineral land package that few development-stage projects can boast.
It has been essential for the partners to focus on the drill program, permitting, and modeling work to advance the project up the value chain. While all of this effort forms a solid foundation for a new feasibility study, we have never ignored one of the project’s most important attributes: Donlin Gold’s truly exceptional exploration potential. It is notable that the project’s gold endowment is contained within only three kilometers of an eight-kilometer mineralized belt, and that even this only represents five percent of the total mineral land package. And, as we often say, the next Donlin could be found at Donlin as we continue to produce some of the best assay results for an open-pit gold project in the industry.
Increased Health and Safety Protocols at Camp Pay Dividends for All
Health and safety are top priorities. With that in mind, NOVAGOLD has implemented a broad range of policies designed to ensure the safety and well-being of all employees, contractors, and members of the community where the Company is operating. Throughout the pandemic, Donlin Gold has worked with all of its community partners in Alaska and in the Y-K region to make sure that the program is effective. In fact, in the third quarter, Donlin Gold further enhanced health and safety protocols in light of the rise of COVID-19 cases in the Y-K region. We are pleased to report that we have not had any COVID-19 cases to date at the project site; however, restrictions are in place for the Donlin Gold Anchorage office following two positive cases. All Donlin Gold employees who may have been exposed were tested, are quarantining, and are currently working remotely in accordance with the Donlin Gold COVID-19 Mitigation Plan protocols.
Partnerships Strengthened by Challenging Times
As a neighbor to villages in the Y-K region and as a team made up of people from the area, Donlin Gold strives to aid communities with support and resources, particularly when health and safety are of concern. Donlin Gold continues to make progress in formalizing its community relationships and finding common ground with Shared Value Statements with eight villages from the Y-K region (Akiak, Sleetmute, Napaimute, Crooked Creek, Napaskiak, Nikolai, Tuluksak, and Upper Kalskag) that confirm current engagement with key local communities. These agreements include educational, environmental, and social initiatives to help provide support for these villages. The Y-K is an area of Alaska the size of Idaho with 52 sparsely populated villages, each village with its own character, its own independent needs, and inter-dependence. These have been emphasized in the past two years as the pandemic, travel restrictions, and poor fishing seasons have led to increased need for assistance.
The Donlin Gold project’s success at the local level can in part be attributed to local community involvement in the project. This commitment is at the core of both Barrick’s and NOVAGOLD’s philosophy on how the project should develop in partnership with our Alaska Native Corporation partners’ goals. Approximately 70% of Donlin Gold direct hires for this year’s drill program are Alaska Natives and we are pleased to report that for the 2021 season, Donlin Gold hired employees from 20 Y-K communities. In an area marked by high unemployment and fewer job choices than in urban environments, the work experience and skills training that Donlin Gold provides is significant and appreciated by the workforce.
Donlin Gold is committed to supporting the needs of its community partners. As an example, in August, Donlin Gold held the fourth “In It For The Long Haul” backhaul project that removed and consolidated approximately 180,000 pounds of hazardous and electronic waste from 26 villages throughout the Y-K region, that was then packed into containers and shipped to Anchorage and Seattle for recycling and proper disposal. As well, volunteers received instruction about proper waste handling and packaging techniques. Measured by scale and reach, it was the most successful backhaul yet.
Also, Donlin Gold sponsored the annual 2021 Clean-up Green-up program throughout the summer with a record 50-plus Tribes and municipalities participating. These partnerships, activities, and programs demonstrate our longstanding and deep-rooted commitment to sustainable and responsible development for the benefit of all stakeholders in the Y-K region.
Methodically Advancing Permits in a Sustainable Manner
One word that keeps coming up in conversation with our existing and potential investors is how “methodical” we have been in taking Donlin Gold up the value chain. This description of our reliability comes as no surprise to our long-term investors. For the past decade, the NOVAGOLD management team, with its rare pedigree in large-scale engineering, construction, Alaska permitting, and open-pit operational expertise, has alongside Barrick and with the Donlin Gold teams quietly, diligently, and successfully permitted what will one day be one of the largest gold producing mines in the world. Working with two U.S. federal administrations, the Donlin Gold project team gained the first-ever joint Federal Record of Decision between the Bureau of Land Management and the Army Corps of Engineers for a mining project, and received its key State permits and authorizations in 2018. These achievements reflect a healthy partnership among NOVAGOLD, Barrick, and our Native Corporation partners at Calista and TKC.
During the third quarter, Donlin Gold, together with Calista and TKC, continued to provide support to State agencies in their efforts to advance remaining permits and approvals needed for the project. Several key permit advancements were made for the project in the quarter.
The Alaska Department of Environmental Conservation (ADEC) Commissioner issued his decision to uphold the State’s 401 Certification on May 27, 2021. The decision was appealed by an ENGO representing ONC on June 28, 2021, in Alaska’s Superior Court as part of an ongoing appeal process initiated by an ENGO. The appeal focused on three narrow issues related to compliance with the State’s water quality standards near the mine site.
Final water rights permits were issued on June 29, 2021, by the Alaska Department of Natural Resources’ (ADNR) Division of Mining Land and Water. The 12 water rights permits are for local surface water sources and groundwater to be used for process water, dust control, fire protection, and potable water. In July, they were administratively appealed to the ADNR Commissioner by an ENGO representing ONC and five villages. We anticipate a decision on the appeal by the Commissioner in 2022.
On July 19, 2021, the ADNR Commissioner completed the reconsideration and upheld the State ROW agreement and lease authorization for the buried natural gas pipeline. On August 9, 2021, an ENGO, representing ONC, and an outdoor recreational business owner each requested that the Commissioner conduct a further reconsideration. The Commissioner rejected both further reconsideration requests on August 19, 2021. On September 20, ONC and the outdoor recreational business owner both filed appeals of the State ROW in Alaska Superior Court.
The scientific work done on the Donlin Gold project to date, in parallel with the continuing collection of data and analysis, will be verified through extensive, open, and transparent monitoring as required by State permits. We will not operate without demonstrated compliance with the State and Federal permitting standards. Unfortunately, litigation led by activist ENGOs opposing resource development of any kind has become a regular course of business in the U.S. and it is something that has been built into our planning since the start of permitting in 2012. We are not surprised by these legal appeals and, by building a comprehensive, science-based record, the Company believes it is in a strong position to support the State in its defense of legal action against the permits.
Partnerships and Government Affairs
Dating back decades, prior to the start of permitting, Donlin Gold has been fortunate to have established strong partnerships with Calista and TKC, owners of the mineral and surface rights, respectively. The project’s location on private land specially selected for its mineral development potential under the 1971 Alaska Native Claims Settlement Act, is a key attribute that distinguishes it from most other mining assets in Alaska. This year is the 50th anniversary of this landmark Act supporting indigenous populations in Alaska. As landowners, Calista and TKC are committed to developing a mining operation consistent with the Elders’ vision of responsible development that creates jobs and economic benefits while safeguarding the environment and culture. Donlin Gold’s commitment to meaningful tribal consultation throughout project development and permitting has been proven over decades of reliable and dependable engagement with the communities.
As the Donlin Gold project has moved up the value chain and become a late-stage development project, the partnership of Barrick, Calista, and TKC has closely collaborated in all government affairs activities. Donlin Gold worked alongside Calista and TKC during the Federal permitting process, culminating in the granting of the Record of Decision in 2018. The partners continue to work to ensure the project receives the attention it deserves both in Alaska and in the seat of the Federal government in Washington, D.C. The project team has decades of experience that includes bipartisan engagement with Congress and different Administrations and is well-positioned to engage on project-specific and national mining issues at all levels of government. In the third quarter, Calista has led efforts in outreach to senior Biden Administration officials regarding the Donlin Gold project and its unique situation of being located on, and containing minerals owned by, Alaska Natives and the mandate to provide economic and social benefits to Calista and TKC Shareholders, many of whom live in the Y-K region. This communication has consistently focused on priorities identified by the Administration for resource development projects in the U.S., including Native consultation, empowerment, and self-determination. Alaska’s U.S. Senators have recently reaffirmed their long-standing support of the Donlin Gold project in discussions with Donlin Gold, Barrick, and NOVAGOLD leadership. We also continue to work with our Native Corporation partners in all aspects of outreach and feedback in the communities of the Y-K region.
Strengthened Treasury
As of the end of the third quarter, NOVAGOLD had more than $170 million in cash and term deposits. This figure includes the July payment of $75 million from Newmont related to the sale of NOVAGOLD’s 50% interest in the Galore Creek project in 2018.
NOVAGOLD’s strong financial position is no accident. It emanates from a well-executed strategy aimed at enhancing the value of Donlin Gold for our shareholders with minimal dilution. Indeed, whereas the Company last issued equity almost a decade ago, in early 2012, we expect our existing financial resources and future incoming payments to be sufficient for NOVAGOLD to carry out its business without resorting to raising more capital until a construction decision is made.
After a superb quarter of accomplishments that advanced the Donlin Gold project markedly, I wish to thank the project teams at NOVAGOLD, Donlin Gold, and Barrick for their hard work, professionalism, expertise, and perseverance in safely and effectively meeting our goals on all fronts as we work to overcome the numerous challenges that continue to be presented by the global pandemic in our work and personal lives. The team has a sincere appreciation of the State agencies for their hard work and professionalism throughout the permitting activities for the Donlin Gold project and we thank them for their dedication to balancing the needs of all stakeholders in the project.
We would not be here at this pivotal turning point of development of Donlin Gold without the support of our Native Corporation partners, Calista and TKC, on whose land we were first invited to explore and now persevere to develop responsibly for the mutual benefit of all. I express my deep gratitude to them for their longstanding support and unwavering commitment to our shared vision of advancing the Donlin Gold project.
Once again, I express sincere thanks to my colleagues on the NOVAGOLD Board for their steadfast support and commitment to upholding the best of corporate governance and sustainability practices. I truly enjoy serving with all of you.
On behalf of the NOVAGOLD team, we thank our shareholders for their engagement, sharing of knowledge, support, and encouragement. Many of you are long-term shareholders. We are humbled by the trust you put in our team with your investment, and we take this responsibility very seriously. NOVAGOLD remains focused on maximizing returns for its shareholders and stakeholders alike in a measured, safe, and socially responsible manner. I wish you all the best of health.
Sincerely,
Gregory A. Lang
President & CEO
Financial Results
in thousands of U.S. dollars, except for per share amounts
| Three months ended
August 31,
| Nine months ended
August 31,
|
| 2021
| 2020
| 2021
| 2020
| General and administrative expense (1)
| 4,883
| 4,745
| 15,204
| 13,846
| Share of losses – Donlin Gold
| 6,748
| 6,150
| 12,914
| 11,418
| Operating expenses
| 11,631
| 10,895
| 28,118
| 25,264
|
|
|
|
|
| Loss from operations
| (11,631)
| (10,895)
| (28,118)
| (25,264)
| Interest expense on promissory note
| (1,506)
| (1,428)
| (4,420)
| (4,588)
| Accretion of notes receivable
| 639
| 835
| 2,347
| 2,483
| Other income
| 818
| (982)
| 34
| 1,599
| Income tax expense
| (110)
| (266)
| (110)
| (794)
| Net loss
| (11,790)
| (12,736)
| (30,267)
| (26,564)
|
|
|
|
|
| Loss per share, basic and diluted
| (0.04)
| (0.04)
| (0.09)
| (0.08)
|
|
|
| At
| At
|
|
|
| Aug 31, 2021
$
| Nov 30, 2020
$
| Cash and term deposits
|
|
| 173,341
| 121,906
| Total assets
|
|
| 204,194
| 224,441
| Total liabilities
|
|
| 117,263
| 113,714
|
(1) Includes share-based compensation expense of $2,050 and $1,783 in the third quarter of 2021 and 2020, respectively, and $6,187 and $5,259 in the first nine months of 2021 and 2020, respectively.
For the third quarter ended August 31, 2021, loss from operations increased from $10.9 million in 2020 to $11.6 million in 2021, primarily due to higher permitting and legal costs at Donlin Gold LLC. For the first nine months of 2021, loss from operations increased from $25.3 million in 2020 to $28.1 million in 2021 due to higher general and administrative expense and higher costs at Donlin Gold LLC. General and administrative expense increased by $1.4 million primarily due to higher share-based compensation, salaries, and benefits. At Donlin Gold, expenses increased by $1.5 million in 2021 due to higher permitting and legal costs.
In the first nine months of 2021, total cash, cash equivalents, and term deposits increased by $51.4 million due to the receipt of $75 million from Newmont, partially offset by $15.0 million used to fund Donlin Gold, $8.4 million used in operating activities for administrative costs and working capital changes, and $0.7 million related to withholding taxes paid on vested performance share units. Effects of exchange rate changes increased cash by $0.6 million.
Under the terms of the sale of the Galore Creek project to Newmont on July 27, 2018, NOVAGOLD received $100 million. An additional $75 million was received on July 27, 2021. A further $25 million is due upon the earlier of: (i) completion of a project feasibility study prepared by or for the Galore Creek project, or (ii) July 27, 2023. An additional $75 million payment is contingent upon Galore Creek project construction approval.
In the first nine months in 2021, net cash used in operating activities increased by $1.0 million compared to the same period in 2020, primarily due to lower interest income. Net cash provided from (used in) investing activities includes the $75.0 million note payment from Newmont and net proceeds of $5.2 million from term deposits in 2021, partially offset by a $1.4 million increase in Donlin Gold funding. Net cash used in financing activities related to withholding taxes paid on vested performance share units.
As of August 31, 2021, we had cash and cash equivalents of $117.8 million and term deposits of $55.5 million. The term deposits are denominated in U.S. or Canadian dollars and are held at Canadian chartered banks. Additional capital will be necessary if a decision to commence engineering and construction is reached for the Donlin Gold project.
2021 Outlook
We anticipate spending approximately $32 million in 2021, which includes $19 million to fund our share of expenditures at the Donlin Gold project ($12 million for the 2021 drilling program, camp improvements and studies; $7 million for permitting, community engagement and administration); and $13 million for corporate general and administrative costs.
NOVAGOLD’s primary goals in 2021 are to continue to advance the Donlin Gold project toward a construction decision; maintain/increase support for Donlin Gold among the project’s stakeholders; promote a strong safety, sustainability, and environmental culture; maintain a favorable reputation of NOVAGOLD, its governance practices, and its project among shareholders; and manage the Company treasury effectively and efficiently, including streamlining the corporate structure.
Conference Call & Video Webcast Details
NOVAGOLD’s conference call and video webcast to discuss these results will take place September 30, 2021 at 8:00 a.m. PT (11:00 a.m. ET). The video webcast and conference call-in details are provided below.
| Video Webcast:
| https://www.globenewswire.com/Tracker?data=VKNdZkivKOc0bk5Ua_sl_D_CepCNMZaUyDJC4MfTrgfiUrD0MTf0PDUhq4G9uRTAwk5lZLiiAyWjFQa7EQR32ffH_cywMwftkdE0FoOWyB3glkAfL4RBXZma5HQzI-0N4TMBKyv2NcAY9VRUim-QnlBNBP4vSaqLq1IZyvK8wlpIZWWYvIXogYEXwy28cm9B
|
| North American callers:
| 1-800-319-4610
|
| International callers:
| 1-604-638-5340
|
Questions may be submitted prior to the call at info@novagold.com. There will also be an opportunity to ask questions during the webcast following the presentation.
About NOVAGOLD
NOVAGOLD is a well-financed precious metals company focused on the development of its 50%-owned Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 39 million ounces of gold in the measured and indicated mineral resource categories, inclusive of proven and probable mineral reserves (541 million tonnes at an average grade of approximately 2.24 grams per tonne in the measured and indicated resource categories on a 100% basis),5 Donlin Gold is regarded to be one of the largest, highest-grade, and most prospective known open pit gold deposits in the world.
According to the 2021 Technical Report, once in production, Donlin Gold is expected to produce an average of more than one million ounces per year over a 27-year mine life on a 100% basis. The Donlin Gold project has substantial exploration potential beyond the designed footprint which currently covers three kilometers of an approximately eight-kilometer-long gold-bearing trend. Current activities at Donlin Gold are focused on State permitting, optimization work, community outreach, and workforce development in preparation for the eventual construction and operation of this project. With a strong balance sheet, NOVAGOLD is well-positioned to fund its share of permitting and optimization advancement efforts at the Donlin Gold project.
Donlin Gold is a committed partner to the Alaska Native communities both surrounding the project and within the State as a whole. This commitment underpins our approach and is also reflected in the way in which the asset itself is structured. An important factor that distinguishes Donlin Gold from most other mining assets in Alaska is that the project is located on private land selected due to its mineral development potential that would benefit indigenous shareholders statewide five decades ago. Donlin Gold has entered into life-of-mine agreements with Calista, which owns the subsurface mineral rights and some surface land rights, and TKC, a collection of 10 village corporations, which owns the majority of surface land rights, and is committed to providing employment opportunities, scholarships, and preferential contract considerations to Calista and TKC shareholders. These agreements include a revenue-sharing structure established in the Alaska Native Claims Settlement Act of 1971, which resolved Alaska Native land claims and allotted 44 million acres of land for use by Alaska Native Corporations. Additionally, our long-term commitment to economic development in the Y-K region is exemplified by Donlin Gold’s support of TKC’s initiative to launch energy and infrastructure projects in middle Kuskokwim villages. These partnerships, activities, and programs are illustrative of the commitment to the sustainable and responsible development of the Donlin Gold project for the benefit of all stakeholders.
Scientific and Technical Information
Certain scientific and technical information contained herein with respect to the Donlin Gold project is derived from the “NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA” prepared by Wood Canada Limited with an effective date of June 1, 2021 (the “2021 Technical Report”). Henry Kim, P.Geo., Senior Resource Geologist, Wood Canada Limited; Mike Woloschuk, P.Eng., VP Global Business Development & Consulting, Wood Group USA, Inc.; and Kirk Hanson, MBA, P.E., Technical Director, Open Pit Mining, Wood Group USA, Inc. are the Qualified Persons responsible for the preparation of the independent technical report, and each is an independent Qualified Person as defined by National Instrument 43-101 (“NI 43-101”).
Clifford Krall, P.E., who is the Mine Engineering Manager for NOVAGOLD and a Qualified Person under NI 43-101, has approved and verified the scientific and technical information related to the 2021 Donlin Gold project drill program and 2021 Technical Report contained in this media release.
NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Corporate Communications
Jason Mercier
Manager, Investor Relations
604-669-6227 or 1-866-669-6227
Cautionary Note Regarding Forward-Looking Statements
This media release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, “would” or “should” occur or be achieved. Forward-looking statements are necessarily based on several opinions, estimates and assumptions that management of NOVAGOLD considered appropriate and reasonable 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, activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, included herein are forward-looking statements. These forward-looking statements include statements regarding the anticipated results for the 2021 drill program; the anticipated timing of certain judicial and/or administrative decisions; the 2021 Outlook; our goals for the remainder of 2021; anticipated benefits from the 2017, 2020, and 2021 drill programs including an improved geological model for Donlin Gold; ongoing support provided to key stakeholders including Native Corporation partners; the potential impact of the COVID-19 pandemic on the development of Donlin Gold; the potential development and construction of Donlin Gold; the sufficiency of funds to continue to advance development of Donlin Gold; perceived merit of properties; mineral reserve and resource estimates; Donlin Gold’s ability to secure the permits needed to construct and operate the Donlin Gold project in a timely manner, if at all; and legal challenges to Donlin Gold’s existing permits. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances are forward-looking statements. Forward-looking statements are not historical facts but instead represent the management expectations of NOVAGOLD’s estimates and projections regarding future events or circumstances on the date the statements are made.
Important factors that could cause actual results to differ materially from expectations include the need to obtain additional permits and governmental approvals; the timing and likelihood of obtaining and maintaining permits necessary to construct and operate; the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; the outbreak of the coronavirus global pandemic (COVID-19); uncertainties involved in the interpretation of drill results and geological tests and the estimation of reserves and resources; changes in mineral production performance, exploitation and exploration successes; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the United States or Canada; the need for continued cooperation between Barrick and NOVAGOLD for the continued exploration, development and eventual construction of the Donlin Gold property; the need for cooperation of government agencies and native groups in the development and operation of properties; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, disease pandemics, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases, which could include significant increases in estimated capital and operating costs; fluctuations in metal prices and currency exchange rates; whether a positive construction decision will be made regarding Donlin Gold; and other risks and uncertainties disclosed in NOVAGOLD’s most recent reports on Forms 10-K and 10-Q, particularly the “Risk Factors” sections of those reports and other documents filed by NOVAGOLD with applicable securities regulatory authorities from time to time. Copies of these filings may be obtained by visiting NOVAGOLD’s website at www.novagold.com, or the SEC’s website at www.sec.gov, or at www.sedar.com. The forward-looking statements contained herein reflect the beliefs, opinions and projections of NOVAGOLD on the date the statements are made. NOVAGOLD assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Cautionary Note to United States Investors
NOVAGOLD cautions that this media release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this media release have been prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM)—CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (“CIM Definition Standards”). NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (SEC) Industry Guide 7 (“SEC Industry Guide 7”), and resource and reserve information contained herein may not be comparable to similar information disclosed by U.S. companies. NOVAGOLD’s disclosure concerning Reserve & Resources Estimates remains consistent with NI 43-101. Under SEC Industry Guide 7, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. SEC Industry Guide 7 normally does not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” under SEC Industry Guide 7 in documents filed with the SEC. Investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimated “inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” under SEC Industry Guide 7 as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for identification of “reserves” are also not the same as those of SEC Industry Guide 7, and reserves reported by NOVAGOLD in compliance with NI 43-101 may not qualify as “reserves” under SEC Industry Guide 7. Donlin Gold does not have known reserves, as defined under SEC Industry Guide 7. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with SEC Industry Guide 7.
On October 31, 2018, the SEC adopted a final rule (“New Final Rule”) that will replace SEC Industry Guide 7 with new disclosure requirements that are more closely aligned with current industry and global regulatory practices and standards, including NI 43-101. Companies must comply with the New Final Rule for the Company’s first fiscal year beginning on or after January 1, 2021, which for NOVAGOLD would be the fiscal year beginning December 1, 2021. The New Final Rule provides that SEC Industry Guide 7 will remain effective until all registrants are required to comply with the New Final Rule, at which time SEC Industry Guide 7 will be rescinded. While early voluntary compliance with the New Final Rule is permitted, NOVAGOLD has not elected to comply with the New Final Rule at this time.
1 NOVAGOLD defines a Tier One gold development project as one with a projected production life of at least 10 years, annual projected production of at least 500,000 ounces of gold, and average projected operating costs over the production life that are in the lower half of the industry cost curve.
2 Donlin Gold data as per the 2021 Technical Report (as defined herein). Donlin Gold measured resources of approximately 8 Mt grading 2.52 g/t and indicated resources of approximately 534 Mt grading 2.24 g/t, each on a 100% basis and inclusive of mineral reserves. Mineral resources have been estimated in accordance with NI 43-101.
3 2020 average grade of open pit and underground deposits with gold as primary commodity and over 1 Moz in measured and indicated resources is 1.12 g/t, sourced from S&P Global Market Intelligence.
4 NOVAGOLD considers Tier One jurisdictions to be any in the top 10 rank by the Investment Attractiveness Index in the Fraser Institute Annual Survey of Mining Companies, 2020. Alaska is ranked number 5.
5 Donlin Gold data as per the 2021 Technical Report, as defined herein. Donlin Gold measured resources of approximately 8 Mt grading 2.52 g/t and indicated resources of approximately 534 Mt grading 2.24 g/t, each on a 100% basis and inclusive of mineral reserves. Mineral resources have been estimated in accordance with NI 43-101.
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| To: LoneClone who wrote (159435) | 9/29/2021 5:40:12 PM | | From: LoneClone | | | | Bearing Lithium/Lithium Power International: 90 Per Cent Increase in Measured & Indicated Resources for LPI’s Maricunga Stage One Lithium Project
ca.finance.yahoo.com
Lithium Power International Limited
Tue., September 28, 2021, 7:17 p.m.·3 min read
Highlights
Updated Measured and Indicated resource for the Maricunga Stage One Lithium Brine Project in Chile confirmed an increase by 90 per cent compared with 2019 Definitive Feasibility Study.
Measured and Indicated (M&I) resource now estimated as 1,905,000 tonnes of Lithium Carbonate Equivalent (LCE) for the Stage One (Old Code) mining properties at an average grade of 953 mg/l lithium.
This increase in M+I Resources is in addition to the M+I Resources (2018) of 184 Kt Lithium (979 Kt LCE) in the Litio 1-6 (New Code) concessions to a depth of 200 m.
The Maricunga resource remains open at depth, with a new exploration target for further resource expansion between 400m-550m in the Stage One concessions.
The DFS update for the Stage One continues as expected by Worley, GEA Messo and Atacama Waters.
The latest drilling for the resource increase on the Stage One mining concessions at Maricunga has been completed, with the five exploration core holes each reaching target depth of 400m.
SYDNEY, Australia, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Lithium Power International Limited (ASX: LPI) (LPI or the Company), through its Joint Venture (JV) company, Minera Salar Blanco S.A. (MSB), is pleased to provide details of the updated resource for the Maricunga Stage One project in Chile.
To read the full release please click here.
Access to the full technical report prepared by Atacama Water Consultants is available on the LPI website at https://lithiumpowerinternational.com/maricunga-chile/
Lithium Power International’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:
“We are very pleased with these updated results, which confirm Maricunga as one of the world’s richest lithium brine deposits. Technical activities continue towards the completion of an updated DFS in Q4 2021. The financing for Stage One is now a priority, with preliminary indications of interest received from international financial institutions and private funds for debt and equity financing of the project.”
Competent Person Statements
The information contained in this ASX release relating to Exploration Targets, Exploration Results and Resources has been compiled by Murray Brooker. Mr Brooker is a Geologist and Hydrogeologist and is a Member of the Australian Institute of Geoscientists (AIG) and the International Association of Hydrogeologists (IAH). Mr Brooker has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code).
Mr Brooker takes responsibility for the Resource estimation undertaken by Atacama Water Consultants of Santiago, Chile.
Mr Brooker is an employee of Hydrominex Geoscience Pty Ltd and an independent consultant to the Company. Mr Brooker consents to the inclusion in this announcement of this information in the form and context in which it appears. The information in this announcement is an accurate representation of the available data from exploration and Resource estimation at the Maricunga project.
The Company confirms the form and context in which the Competent Person’s findings are presented have not been materially modified from the original release.
For further information, please contact:
Cristobal Garcia-Huidobro – CEO | Andrew Phillips - CFO
Lithium Power International
E: info@lithiumpowerinternational.com
Ph: +612 9276 1245
www.lithiumpowerinternational.com
@LithiumPower
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| To: LoneClone who wrote (159436) | 9/29/2021 5:43:16 PM | | From: LoneClone | | | | A.I.S. Resources Plans New RC Drill Program at Yalgogrin Gold Project
ca.finance.yahoo.com
A.I.S. Resources Limited
Wed., September 29, 2021, 5:00 a.m.·3 min read
Figure 1
The section shows the IP chargeability trend from conducting sulphides that contain gold mineralisation, the untested areas, the structural controls and high chargeability trend near the 32 gm/t gold sample and the multidirectional structural controls through the 87m at 1.5 g/t gold.
The section shows the IP chargeability trend from conducting sulphides that contain gold mineralisation, the untested areas, the structural controls and high chargeability trend near the 32 gm/t gold sample and the multidirectional structural controls through the 87m at 1.5 g/t gold.Figure 2
Blue dots show location of 29 RC drill holes proposed for the new RC drill program. Results will initially be analysed using XRFp to assist with drill program. The brown background is elevated lead values that correlate with gold mineralisation. Historic mines are shown as blue crosses.
VANCOUVER, British Columbia, Sept. 29, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited ( TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) provides an updated report on exploration progress at Yalgogrin Gold Project, NSW Australia in preparation for the RC drill program.
Nine Diamond Drill Holes Completed
Gold and multi-element results for all 9 diamond drillholes have been received for a total of 1,538m including one hole at the Asia Wyalong mine.
Structural geology observations indicate gold mineralization is controlled by alteration within the granite and veins with multiple orientations. The best results were returned from the Neighbours Farm prospect which were following up on previously reported 87m @ 1.5 g/t Au in YDD01. YDD01 appeared to be drilled down dip of the mineralization, and this was confirmed in subsequent drilling in DDH YDD06 and YDD07.
Best results included:
13m @ 2.1 g/t Au from 68m including 1m @ 6.4 g/t Au in YDD06, and
16m @ 0.8 g/t Au from 104m including 0.3m @ 10 g/t Au in YDD07.
Figure 1 – The section shows the IP chargeability trend from conducting sulphides that contain gold mineralisation, the untested areas, the structural controls and high chargeability trend near the 32 gm/t gold sample and the multidirectional structural controls through the 87m at 1.5 g/t gold.
globenewswire.com
Asia-Wyalong Mine
A DDH of 92 metres was completed and encountered very difficult drilling conditions. Some core was lost, due in part to shear zones with significant core loss in areas of large quartz veining so this core wasn’t analysed, however significant quartz veining is associated with elevated pathfinder metals. Further exploration will utilize reverse circulation to locate down plunge position of the gold mineralization.
New RC Drill program
The gold mineralised body has been intersected in drilling from surface to a vertical depth of 140m at Neighbours Farm and now requires further drilling to determine the true width and dimensions where previous surface auger showed high grade shallow results (32 g/t and 12 g/t Au).
Figure 2 – Blue dots show location of 29 RC drill holes proposed for the new RC drill program. Results will initially be analysed using XRFp to assist with drill program. The brown background is elevated lead values that correlate with gold mineralisation. Historic mines are shown as blue crosses.
globenewswire.com
Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc Geol FAusIMM MAIG MAIMVA(CMV) who is a Qualified Person under the definitions established by the National Instrument 43-101.
About A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals exploration. AIS’ value add strategy is to acquire prospective exploration projects and enhance their value by better defining the mineral resource with a view to attracting joint venture partners and enhancing the value of our portfolio. The Company is managed by a team of experienced geologists and investment bankers, with a track-record of successful capital markets achievements.
AIS owns 100% of the 28 sq km Fosterville-Toolleen Gold Project located 12 km from Kirkland Lake’s Fosterville gold mine (subject to completion of certain exploration expenditures), a 60% interest in the 58 sq km New South Wales Yalgogrin Gold Project (with the right to acquire 100%), and 100% interest in the 167 sq km Kingston Gold Project in Victoria Australia near Stawell and Navarre. It also has joint venture interests with Spey Resources Corp in lithium brines in Argentina at Incahuasi and Pocitos Salars.
On Behalf of the Board of Directors,
A.I.S. Resources Ltd.
Phillip Thomas, President & CEO
Corporate Contact
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-323 5155 164
E: pthomas@aisresources.com
Or
Martyn Element. Chairman
T: +1-604-220-6266
E: melement@aisresources.com
Website: www.aisresources.com
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.
ADVISORY: This press release contains forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company 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. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. 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.
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| To: LoneClone who wrote (159437) | 9/29/2021 5:44:36 PM | | From: LoneClone | | | | Argentina Lithium Enters Agreement to Acquire Rincon West and Pocitos Properties in Salta Province
newswire.ca
Argentina Lithium & Energy Corp. Sep 28, 2021, 13:04 ET
TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQB Venture Market (OTC): PNXLF
VANCOUVER, BC, Sept. 28, 2021 /CNW/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") is pleased to announce that it is expanding its portfolio of lithium exploration projects in Argentina's world renown Lithium Triangle. The Company has entered into a letter of intent with a local vendor to acquire a 100% interest in the 2,370 hectare Rincon West and 15,857 hectare Pocitos properties located in the heart of the prolific lithium district in Salta Province.
¨These properties represent prime exploration assets with infrastructure close by and potential for discovery of high-grade lithium brines. Salta is a pro-mining jurisdiction and Argentina Lithium intends to fast-track drilling to evaluate and advance these well-located properties," stated Nikolaos Cacos, President and C.E.O.
The two properties, separated by 38 kilometres, are located approximately 90 kilometres west of the town of San Antonio de los Cobres, the largest town in Argentina's high plain, and approximately 250 kilometres west of the provincial capital city of Salta.
The Rincon West prospect is a single mining concession with an area of 2,370 hectares, located on the west side of the Rincon Salar. It is close to the railway, and just 17 kilometres south of Provincial Route 51, the international road that connects to Chile's coastal ports. The InterAndes power corridor runs within one kilometre of the Rincon Salar. There are two significant lithium resource development projects on the salar, owned by Rincon Ltd. ( www.rinconmining.com) and Argosy Minerals ( www.argosyminerals.com.au) both of which have executed demonstration-scale production of lithium carbonate. [Argentina Lithium cautions that proximity to a discovery, mineral resource, or mining operation does not indicate that mineralization will occur on the Company's property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario.]
The Pocitos prospect is a group of eleven contiguous mining concessions totalling 15,857 hectares, located on the western side of the Pocitos Salar. The Provincial Route 17 and the natural gas pipeline-fed industrial park at the settlement of Pocitos are located 17 km to the east. The rail line that crosses the middle of the Pocitos property joins Salta with the port of Antofagasta on the Chilean Pacific coast. The present surface expression of the Pocitos Salar is approximately 57 kilometres north-south, and between 6-9 kilometres east-west. The salt pan is almost completely flat with portions of the older salar surface covered by talus and alluvial fan. The property has seen modest lithium exploration in the past, including geophysics and surface sampling, with very limited drilling.
Option Agreement Details
Terms of the option include issuance of 750,000 shares in the Company to the vendor on signing plus $500,000 worth of shares over a 12-month period; and cash payments totaling US$4,200,000 over 36 months, but limited to only US$1,050,000 in the first 18 months, US$800,000 of which are firm commitments over the first year. The agreement is subject to a ten-day legal due diligence period from September 24, 2021, execution of a definitive option agreement and to TSX Venture Exchange approval.
Qualified Person
The contents of this news release have been reviewed and approved by David Terry, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101.
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina, and advancing them towards production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina, and has assembled a first rate team of experts to acquire and advance the best lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_______________________________
Nikolaos Cacos, President, CEO and Director
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.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
SOURCE Argentina Lithium & Energy Corp.
 For further information: Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email: info@argentinalithium.com
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| To: LoneClone who wrote (159438) | 9/29/2021 5:59:34 PM | | From: LoneClone | | | | Highlander Silver discovers high grade silver-lead-zinc mineralization at Alta Victoria project and welcomes key team members in Peru
thenewswire.com
September 29, 2021 – TheNewswire - Vancouver, British Columbia – Highlander Silver Corp. (CSE:HSLV) (CNSX:HSLV.CN) (OTC:LDOMF) (the “Company” or “Highlander”) is pleased to report high-grade rock chip sample results from ongoing reconnaissance exploration at its 71km2, Alta Victoria silver-polymetallic project (the “Project”) in central Peru. In addition, the company has added two key members to the local Peruvian team.
Highlights
- New discoveries of high-grade silver-lead-zinc-gold mineralization in previously unworked areas adjacent to, and northwest of the Buena Estrella prospect and along strike to the Victoria mine
- Rock chip samples from these areas returned up to 270 g/t Ag, 11.25% Pb, 23.70% Zn
- Mineralization is controlled by northeast trending feeder structures and favorable stratigraphic horizons which hosts highly anomalous multi-element geochemistry in soil and rock samples.
Prospective area grows SW & NW of Buena Estrella
Three northeast trending, mineralised structural corridors, have been identified along strike to the northwest for 1.2 km (see Figure 1). Mineralisation is hosted in the lower member of the Jumasha Formation (“Fm”) limestone. Multi-element anomalism has been defined based on a high-density survey of soil and rock samples using a portable X-Ray Fluorescence (pXRF) analyzer. The survey was conducted over a 1500 x 500 metre area between the Buena Estrella prospect and the Victoria mine where previously unknown mineralization was found to occur in outcrop and/or small historic prospect pits. Rock chip sampling of this mineralization returned high-grade silver, lead and zinc results along with anomalous gold, copper, arsenic, antimony and tellurium (see Table 1). Follow up rock chip sampling collected for multi-element ICP analysis and detailed mapping in the upper Buena Estrella area has been completed with sample results pending.
Table 1: Upper Buena Estrella Reconnaissance Rock Sample Geochemistry (ICP multi-element)
Sample ID
| Au
(g/t)
| Ag
(g/t)
| Cu
(%)
| Pb
(%)
| Zn
(%)
| 210205
| 0.66
| 189
| 0.05
| 0.56
| 0.03
| 210206
| 0.46
| 98
| 0.07
| 3.29
| 0.49
| 210207
| 0.49
| 244
| 0.08
| 3.41
| 0.19
| 210208
| 0.40
| 133
| 0.08
| 1.57
| 0.11
| 210209
| 0.02
| 50
| 0.04
| 1.27
| 12.40
| 210421
| 0.12
| 270
| 0.34
| 11.25
| 23.70
|
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“We continue to be highly encouraged by the results from our exploration efforts and the discovery potential at Alta Victoria,” said Ron Stewart, President and CEO of Highlander. “Based on the extent of the alteration and anomalous geochemistry we’ve identified at surface, together with the size and intensity of the IP chargeability anomaly, we believe the Alta Victoria has the potential to host a significant deposit comparable to other major polymetallic deposits in the district. We expect to continue to find compelling new drill targets to be tested in the coming months.”
Mineralization is spatially associated with feldspar porphyritic dikes and sills and also occurs as poorly exposed heterolithic, hydrothermal breccia bodies hosted in lower Jumasha Fm limestones. The old Buena Estrella mine workings occurs within a 300-metre wide, northeast trending, white, bleached and variably leached hornfelsed alteration zone. The trend of this structural corridor is on strike with the Adriana North prospect over 500 metres to the NE. Adriana North hosts multiple anomalous rock samples collected by Highlander including the highest-grade sample taken thus far on the property that assayed 4820 g/t silver. Mineralization at Adriana North also occurs as a manto-style layer at the contact between the siliciclastic Farrat Fm and the overlying Pariahunca Fm limestones. The Company believes this to be a highly prospective stratigraphic horizon dipping moderately to the west-southwest.
Buena Estrella Prospect
The Buena Estrella prospect comprises 2 underground workings separated by approximately 25 metres vertically. Quartz-barite-sulfide-oxide “feeder” veins featuring pyrite, Zn, Pb and Cu oxides trend NE-SW and dip steeply to the NW. One select sample from a 0.3 metre thick sub-horizontal manto in the upper level assayed 228 g/ Ag, 0.45% Cu, 11.3% Pb, 30.1% Zn and 0.14% Mo. (see: NI 43-101 Technical Report titled “Alta Victoria Polymetallic Property, Huaros and Marcapomacocha Districts, Canta and Yauli Provinces, Departments of Lima and Junín, Peru”, dated effective April 30, 2021). In the broader sense the Buena Estrella Prospect is part of the Pachas target area which also incorporates the Victoria Mine, Adriana North, Adriana East, and the Sanguinetti mine.
Victoria Mine
The Victoria Mine was active on a small scale up until 2018. The property owner and operator focused on select high grade lead-silver mineralisation hosted in Jumasha Fm limestone. Production over a 15 year time span is estimated to be 1500 metric tonnes of ore with an average grade of 10% lead and 10 ounce per tonne (311 g/t) silver.
Ongoing Exploration
Most of this year´s field work has been focused on better defining known targets, specifically in the Santa Teresita and Pachas areas. A 61 line-km of UAV (drone) magnetic survey along with a 270-station gravity geophysical survey were recently completed over roughly 2.5 square kilometers in the Pachas area. Compilation and data analysis will be completed once the final sample results from ALS labs are received.
Going forward, field work will concentrate on areas that have received little or no attention in the past. It is important to note that of the 7,132 hectares of exploration ground controlled by Highlander, over half of the project area has yet to be explored and only 7 drill holes have been drilled to date.
The Alta Victoria Project is located 160 kilometers northeast of Lima and consists of 18 mining concessions within the Central Cordillera Polymetallic Mineral Belt, which hosts major scale silver and polymetallic mineral deposits. The district has produced over 1.5 billion ounces silver historically from carbonate replacement deposits, skarn, vein, manto, and diatreme related deposits. Five major mines (Uchucchacua, Santander, Chungar, Iscaycruz and Casapalca) lie along and/or adjacent to the Alpamarca Fault to the NW and SE of the Project. Concessions controlled by Highlander straddle nearly 14 km of the Alpamarca/Chonta Fault at the heart of this district. Note that information regarding mines in the district is not necessarily indicative of the mineralization of the Alta Victoria property.
Key Positions Filled
The company is very pleased to announce the addition of Joanna Liu, as company administrator and Alex Tadeo, Exploration Manager - Peru. Both Ms. Liu and Mr. Tadeo have extensive experience in the mineral exploration and mining profession.
Ms. Liu has worked in the administrator capacity and held positions as General Manager and Director for Peru based junior exploration companies starting in 2004 with Gallant Minerals and continued in such roles for Canadian Shield Resources, Estrella Gold, Alianza Minerals and CAPPEX Mineral Ventures leading up to the combination with Lido Minerals resulting in the formation of Highlander Silver Corp. In addition to being a highly competent administrative professional, Ms. Liu holds an associates degree in Peruvian Mining Law.
Mr. Tadeo will take on much of the day to day management of Highlander´s exploration activities in Peru. As Senior Exploration Geologist, Alex brings over 14 years of Peruvian and international exploration and mining experience and is credited with increasing the reserve base at the artisanal Santa Rosa mine to 7Moz Ag resulting in a mine production rate of 350 tpd. In his most recent role working with the Stellar Mining Group, Alex led his exploration team in discovering the Maria-Cecilia Cu-Mo porphyry system subsequently sold to Camino Minerals.
Phil Anderson, Exploration Director for Highlander commented “I could not be more pleased than to have the opportunity to continue working with Joanna and have Alex join the local team. Both individuals bring the talent, knowledge, competence and professionalism needed for these two critical positions to support and lead Highlander to exploration success in Peru.”
Additional information about Highlander and its mineral projects can be viewed on the Company’s SEDAR profile at www.sedar.com and its website at www.highlandersilver.com, including the technical information referenced in this news release which can be found in the NI 43-101 Technical Report on the Project filed on SEDAR under Highlander Silver Corp.'s profile and is available for download at the link above.
Quality Control
All new rock and soil samples reported in this press release were delivered to ALS Peru S.A., a certified laboratory located in Lima, Peru for preparation and analysis. Rock samples were weighed, dried, crushed to 70% <2mm and riffle split while soils were weighed, dried and screened to -180 µm. A 250g subsample was pulverized to 85% <75 µm for both rock and soil sample types. All samples were assayed using a 30g nominal weight fire assay with atomic absorption finish (Au-AA25) for gold, and 48 elements by 4-acid ICP-MS (method ME-MSC61). When MS61 results were >100ppm for Ag and 10,000 for Pb, Zn and Cu assays were reported using four-acid digest method (Ag -OS62 and base metal ME-OG62). No standards or blanks were inserted by Highlander. ALS routinely inserts certified gold, silver and base metal standards, blanks and pulp duplicates, and results of all ALS QA/QC samples are reported. The standard, blank and duplicate samples used by ALS were considered sufficient QA/QC for Highlander’s sample analysis.
Hand-held Xray Refraction Fluorescence (pXRF) analysis has been conducted in the field on rock and soil using a model XRF540622 SA GEOCHEM ANALYSER KIT. The instrument is rented from AMC Reflex located in Lima, Peru. The instrument is rented complete with a calibrating disc and a series of 6 standards. Highlander field technicians are careful to periodically re-calibrate the instrument throughout each day in the field to maintain the maximum level of data integrity that is collected.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Ronald Stewart, P.Geo., President and CEO of Highlander Silver Corp. who is a Qualified Person as defined in NI 43-101. Mr. Stewart has verified the scientific and technical information disclosed in this news release by reviewing all of the sampling, analytical and drilling data from the Company’s drill program, the technical report on the Project, as well as reviewing and referencing published scientific papers, historical NI 43-101 reports, news releases, and government assessment reports related to the Company’s properties that outline their geology and structure, mineralization potential, and deposit style.
For further information, please contact:
Ronald Stewart
Chief Executive Officer
Highlander Silver Corp.
810 - 789 West Pender Street
Vancouver, BC V6C 1H2
(604) 687-2038
info@partumadvisory.com
About Highlander Silver Corp.
Highlander Silver Corp. is a mineral exploration company focused on the exploration of the Alta Victoria silver-polymetallic project in central Peru, as well as targeting the acquisition of additional mineral projects by leveraging the team’s significant experience in Peru and South America more widely.
Neither the Canadian Securities Exchange (CSE) nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Certain information contained in this news release constitutes “forward-looking information” under Canadian securities legislation. This includes, but is not limited to, information or statements with respect to the future exploration plans of the Company, costs and timing of future exploration, anticipated results of exploration, potential mineralization of the Project, potential for future acquisitions and anticipated timing of such acquisitions. Such forward looking information or statements can be identified by the use of words such as “believes”, “plans”, “suggests”, “targets” or “prospects” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “will” be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of precious and base metals, possible variations of ore grade or recovery rates, failure of plant, equipment, or processes to operate as anticipated, accident, labour disputes and other risks of the mining industry, and delays in obtaining governmental approvals or financing, or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.
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