| To: LoneClone who wrote (162113) | 12/14/2021 3:51:48 PM | | From: LoneClone | | | | International Prospect Expands Uranium Properties through Staking, Elliot Lake Uranium Camp, Ontario, Canada
newsfilecorp.com
Val-d'Or, Quebec--(Newsfile Corp. - December 14, 2021) - International Prospect Ventures Ltd. (TSXV: IZZ) (the "Company" or "IZZ"), is pleased to announce that it has, through staking, increased its 100% owned land package in the Elliot Lake Uranium Camp, Ontario, Canada. The new properties, named Elliot Lake South and Elliot Lake North Shore (collectively the "Property"), cover 6447 ha (298 claims) and 3843.5 ha (185 claims), respectively. These two new properties, along with the previously announced Elliot Lake North property, bring the total area held by the Company in the Elliot Lake Uranium Camp to nearly 13 square kilometres.
Martin Walter, CEO of IZZ, commented, "These additional 100% owned uranium properties in the historically prolific Elliot Lake Uranium Camp enhance our Company profile as IZZ strategically acquires a portfolio of high-quality projects to be well positioned in the uranium and gold sectors."
At its height in the 1950s, there were 12 mines and 3 mills established in the Elliot Lake region with all of the historical uranium mines brought into production between 1955 and 1958. Mines of the two largest past producers, Denison Mines and Rio Algom (now BHP Billiton), were located on the north and south limbs of the Quirke Syncline, locally referred to as "the Big Z", a gently folded westward plunging syncline comprising Paleoproterozoic Huronian Supergroup sedimentary rocks.
The Elliot Lake North and Elliot Lake South uranium properties are located on the north and south limbs of the Quirke Syncline, respectively (Figure 1). Details about the Elliot Lake North property were previously announced ( see Company news release date October 20, 2021).
The newly acquired Elliot Lake South property consists of at least 8 historical uranium occurrences, defined mainly by diamond drilling intersections in the Matinenda and Mississagi formations. The property comprises 3 non-contiguous claim groups with the largest group (289 claims) located about 10 km west of the historical Nordic Mine and about 5.6 km and 7.5 km west of the historical Milliken and Lacnor mines, respectively. The two smaller claim groups total 9 claims, with 7 claims immediately east of the Nordic Mine and 2 claims about 1.5 km northeast of the Nordic Mine.
The Elliot Lake North Shore property (Figure 1) covers more than 23 km (east-west strike) of the Matinenda Formation, the primary target host lithology for uranium mineralization in the Elliot Lake area. This new property is immediately east and long strike of the Pronto Mine which was in production from 1953 to 1960 (Rio Algom Mines Ltd.). The Elliot Lake North Shore property also covers several historical uranium occurrences, including the Spragge Creek Occurrence (1953) which reported a historical grab rock sample of 0.11% U3O8.
All historical information related to the Elliot Lake Uranium Camp has been derived from Ontario Publications available online through the Ministry of Energy, Northern Development and Mines ("MENDM"). A Qualified Person, as such term is defined in National Instrument 43-101, has not independently verified such historical information set out above. Further, mineralization occurring outside of the properties held by the Company is not necessarily indicative of the mineralization occurring within the boundaries of the properties.
Ontario is considered a tier-1 mining jurisdiction with many mining projects in development and production across multiple commodities. The Company's initial work plans for the area will consist of desktop studies and historical data compilation of all available data, including regional radiometric surveys, satellite imagery, drill hole data, and assessment reports.
Qualified Person
Dr. Scott Jobin-Bevans, (PhD, PMP, P.Geo.), a Director and Vice-President, Exploration for the Company, is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved of the technical content of this press release as it relates to the Property.
For additional information, please contact:
Martin Walter
President/CEO
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 416-389-5692
Email: martin.walter@iprospectventures.ca
Website: www.iprospectventures.ca
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. 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.
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 news release.
Figure 1. Location of IZZ's Elliot Lake uranium properties superimposed on the generalized geology, uranium occurrences, and past producing mines within the Elliot Lake Uranium Camp (data source and geology from MENDM, 2021).
To view an enhanced version of Figure 1, please visit:
orders.newsfilecorp.com. |
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| To: LoneClone who wrote (162114) | 12/14/2021 3:53:14 PM | | From: LoneClone | | | | 79 Resources Commences District-Scale Geophysical Survey at Five Point Copper-Gold Project
accesswire.com
Tuesday, December 14, 2021 8:00 AM
VANCOUVER, BC / ACCESSWIRE / December 14, 2021 / 79 Resources Ltd. (CSE:SNR) ("79 Resources" or the "Company") is pleased to announce that it has commenced a district-scale geophysical survey at its Five Point Copper-Gold Project located near Houston, BC. The survey is being performed by Precision GeoSurveys Inc.
Comprising 2,290 line-kilometres, the heli-borne geophysical exploration program will assist 79 Resources in identifying potential structures that may prospectively deliver high-priority copper-gold exploration targets within its district-scale Five Point Copper-Gold Project.
The Five Point Copper-Gold Project is located contiguous to the Buck Project being advanced by neighbouring Sun Summit Minerals Corp.
"We are excited to have exploration underway at our flagship Five Point project. With more than 390 square kilometres being covered by this large geophysical exploration program, 79 Resources believes that the existing and compelling targets defined by our phase one mag survey earlier this year will be added to, with prospective targets being further analyzed over the coming months with the objective to pursue ground follow-up on high priority targets throughout 2022," stated Ryan Kalt, CEO of 79 Resources.
For more information on the Five Point Copper-Gold Project, please visit: pr.report
About the Geophysical Survey
The large-scale, in-progress geophysical survey (the "Five Point Phase II Geophysical Survey") being undertaken by 79 Resources is expected to cover 2,290 line-kilometres, done on the basis of 190 metre spacing. The exploration work represents an expanded phase II airborne program at the Five Point project, with an initial Phase I geophysical survey having been performed earlier in 2021 by the Corporation's recently acquired subsidiary, Buck Gold Inc.
The Five Point Phase II Geophysical Survey is being flown in a systematic low-level grid pattern with full high-resolution coverage of a large section of mineral tenure comprising the Corporation's Five Point Copper-Gold Project.
The geophysical program is designed to provide 79 Resources with new proprietary geophysical data covering 394.9 km2 of its district-scale Five Point Copper-Gold Project.
Survey specifics include use of a highly-sensitive Scintrex CS-3 cesium vapor airborne magnetometer sensor with a sampling rate of 20 Hz providing sample spacings of 1-2 meters, in a nose-mounted stinger configuration with 3-axis real-time compensation.
The airborne survey is being flown at a nominal flight height of 50 m above ground, plus/minus allocated variances) and is scheduled for completion later this month.
About 79 Resources Ltd.
79 Resources is a Canadian-based junior mining exploration company. Traded on the Canadian Securities Exchange under the symbol SNR, the company seeks to acquire, explore and develop high-potential mining projects. The Company is currently focused on the Five Point Copper-Gold Project (British Columbia) and the North Preston Uranium Project (Saskatchewan).
ON BEHALF OF THE BOARD
"Ryan Kalt"
Ryan Kalt, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: 79 Resources Ltd. |
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| To: LoneClone who wrote (162115) | 12/14/2021 3:56:29 PM | | From: LoneClone | | | | Pegasus Resources Expands Widespread Cu-Ag-Pb-Zn Zone to at Least 4,000 Meters Strike, Discovers New Cu-Au Mineralized Zone at Vertebrae Ridge
ca.finance.yahoo.com
Pegasus Resource Inc.
Tue., December 14, 2021, 5:30 a.m.·7 min read
Figure 1
2021 program rock sample locations and mineralized trends.
Figure 2
Mineralized core from 2021 backpack drilling
Figure 3
Cannon Zone Rock Sample Summary
Figure 4
Characteristic chalcopyrite-chalcocite-malachite-azurite mineralization in quartz breccias the Cannon Zone.
VANCOUVER, British Columbia, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSXV: PEGA) (the “Company” or “Pegasus”) is pleased to announce results of the summer 2021 prospecting and backpack drilling program carried out on its wholly owned (100% Pegasus) Vertebrae Ridge Property located north of Golden, British Columbia. The Vertebrae Ridge Property is comprised of four claims encompassing about 5,324 ha (13,156 acres) roughly 81 kilometers northwest of Golden, BC. The eight-day prospecting campaign during August 2021 resulted in the extension of known polymetallic mineralization trends, the confirmation of significant mineralization continuity at historically sampled locations (see January 13th release), and the discovery the Canon Cu-Au Zone. The Company believes the newly discovered Canon Zone, may be related to a large oval, alkaline intrusion located a short distance west of the mineralized area. Highlights include (See Fig 1):
Crest Zone: 65 samples of rock and float samples collected over nearly 4,000 meter strike of mineralized Copper ± Ag/Pb/Zn outcrop. Of the 65 samples:
34 are >1% Cu and 22 samples are >2% Cu. All samples averaged 2.7% Cu, the highest value is 29% Cu.
22 are >10 g/t Ag and 8 samples >30 g/t Ag. All samples averaged 16 g/t Ag and the highest value is 201 g/t Ag.
For zinc, all samples averaged 0.26% Zn, the highest value is 7.77% Zn.
For lead, all samples averaged 0.66% Pb and the highest value is 17.4% Pb.
Barrel Zone: 13 copper-bearing carbonate vein samples collected over 1500+ meter strike:
Six are greater than 0.5% Cu and 3 samples are greater than 1% Cu. The samples averaged 0.87% Cu, the highest value is 5.06% Cu.
Cannon Zone: 26 samples collected over an area that is 500 meters wide by 1,100 meters strike length from a structurally controlled quartz-carbonate vein and breccia system bearing chalcopyrite-chalcocite mineralization:
14 are greater than 0.5% Cu and 9 samples are greater than 1% Cu. The samples average 1.03% Cu and the highest value is 3.55% Cu.
2 samples carry significant gold mineralization with 1.44 g/t Au and 4.22 g/t Au.
Figure 1. 2021 program rock sample locations and mineralized trends.
globenewswire.com
Charles Desjardins, CEO of Pegasus states, “The copper-silver mineralization at Vertebrae Ridge represents an exciting new discovery within a virtually unexplored district of east-central British Columbia. The large scale of mineralization, which appears over kilometers, presents us with an exciting exploration target. At a time when copper is seeing increased demand from a world transitioning to electric energy, new discoveries will be required to sustain the momentum of the worlds energy transformation."
Crest Zone
The Cu-Ag-Zn mineralized system, described in a prior news release (January 13th, 2021), was extended and sampled over nearly 4,000 meters strike length (see Figure 1) and averaged 2 to 5 meters wide, reaching 15 meters width locally. Mineralization consists dominantly of finely disseminated chalcopyrite-chalcocite-malachite-azurite with instances of sulphide veinlets and small pods (~1m2) of semi-massive chalcopyrite. The mineralization appears associated with polymetallic quartz-carbonate veins and breccias, is open in all directions, and is orientated southeast-northwest. The veins crosscut altered limestone, dolostone, quartzite, and mudstone. Galena mineralization was identified in newly discovered parallel veins in the southeastern extent of the system. Polymetallic mineralization also appears to increase spatially throughout the zone and in strength toward the southeast.
Four additional galena-bearing brecciated quartz veins, similar to a vein from which sample 148631 was collected (see January 13th, 2021, news release), were discovered in the vicinity of this occurrence during the 2021 program. The mineralized system of veins and breccias measure over 100 meters along strike and is orientated perpendicular to the Crest Zone, striking northeast-southwest.
Crest Zone Drilling
Four shallow backpack style drill holes were attempted along Zone 1 in outcrops bearing anomalous copper mineralization sampled during the fall 2020 program. Chalcopyrite-chalcocite mineralization was confirmed at depths of up to 1.55 meters, and in all cases ended in mineralization due to severe depth limitations of the drill. Malachite and azurite frequently occupied open fractures within core. Figure 2 below displays chalcopyrite mineralization with pyrite rims in a quartz breccia matrix from a drillhole at the southern extent of Zone 1.
Figure 2. Mineralized core from 2021 backpack drilling
globenewswire.com
Barrel Zone
Mineralization at the Barrel Zone was examined and sampled over 1500 meters strike length where widths approached 1-2 meters. It is considered open at both ends. It appears to strike towards the copper mineralized system discovered in the fall of 2020 and may represent the same mineralized system and would be an aggregate strike length of 3500 metres. 13 samples were collected along this trend where mineralization consists of chalcocite-chalcopyrite in comparable quantities within coarse grained quartz-carbonate veins/breccias. The system crosscuts weakly altered limestone, dolostone, and dolomitic mudstones along a mapped thrust fault. Zone 2 likely forms a continuum with Zone 2 North, though the trend cannot be confirmed due to extensive glacial ice and debris cover. If conjoined, Zone 2 would reach nearly 3,400 meters. Zones 1 and 2 may converge in the southeastern claim of Vertebrae Ridge, though additional exploration is required.
Cannon Zone
The Cannon Zone was discovered during the August 2021 program along an unmapped steeply dipping fault about 3 kilometers southwest of the Crest Zone and due east of a previously mapped alkaline intrusive. This zone is orientated southeast-northwest, measures 1-5 meters wide, and was confirmed over a strike length of nearly 1,000 meters. The Cannon Zone occupies the contact of quartzite and mudstone, with mineralized quartz veins often following sheer planes in phyllite. Mineralized quartz-carbonate breccias were also observed to crosscut quartzite and weakly altered limestones and dolostones.
The Cannon Zone consists of chalcopyrite-chalcocite with malachite and azurite frequently staining outcrop and boulders. Mineralization appears to increase to the Northwest though additional exploration is required to better understand this system. Analytical results show appreciable gold (1.44 g/t Au and 4.22 g/t Au) when compared to the other base-metal enriched zones on the property.
Figure 3. Cannon Zone Rock Sample Summary
globenewswire.com
Airborne Geophysics
The Company also commissioned an airborne magnetic survey to cover the Vertebrae Ridge Property. A cursory review of the recently completed survey supports the geological interpretation of the project by defining linear breaks, faults, alkaline intrusive(s) and prospective units on the Vertebrae Ridge Property.
Figure 4. Characteristic chalcopyrite-chalcocite-malachite-azurite mineralization in quartz breccias the Cannon Zone.
globenewswire.com
NI 43-101 Disclosure
The technical information in this news release was prepared and/or reviewed by Nathan Schmidt, P.Geo., a Qualified Person as defined in National Instrument 43-101.
About Pegasus Resources Inc.
Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information please visit the Company at www.pegasusresourcesinc.com or contact Charles Desjardins at charles@pegasusresourcesinc.com
On Behalf of the Board of Directors
Charles Desjardins
President and Director
Pegasus Resources Inc.
700 – 838 West Hastings Street
Vancouver, BC V6C 0A6
1-604-369-8973
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.
Forward Looking Statements
Statements included in this announcement, including statements concerning the Company’s plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
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| To: LoneClone who wrote (162116) | 12/14/2021 3:58:44 PM | | From: LoneClone | | | | Camino: District-Scale Manto-Style Copper Oxides with Primary Sulphide Mineralization Potential at the Los Chapitos Project in Peru
accesswire.com
Tuesday, December 14, 2021 9:00 AM
VANCOUVER, BC / ACCESSWIRE / December 14, 2021 / Camino Corp. (TSXV:COR)(OTC PINK:CAMZF) (WKN:A116E1) ("Camino" or the "Company") is pleased to announce that discovery drilling at its Los Chapitos copper project (Los Chapitos), consisting of 5 exploration drillholes, intercepted anomalous copper mineralization over a strike extent of approximately 6.5 kilometres (Figure 1 and Table 1) with grades up to 1.05% Cu. The drillholes also contained consistent cobalt mineralization, and trace amounts of silver and gold. Drilling to date has only tested a portion of the copper mineralization along the more than 8 km Diva Trend. Parallel fault structures along Atajo and Lagunillas are also prospective for copper discoveries within the Los Chapitos claims. The drilling at Los Chapitos is targeting new copper mineralization in addition to the previously drilled Adriana Zone, as newly permitted areas become available for drilling. At the Adriana Zone, drilling results reported in January 2021 showed significant intercepts of copper mineralization, including 55.5 m of 0.72% copper (Cu), with 22.5 m @ 1.15% Cu (see news release dated January 19, 2021). The next priority drill target is the Lourdes copper oxidized outcrop with geological similarities to Adriana.
Highlights:
- Initial 5 exploration drillholes show anomalous copper, cobalt, and trace gold and silver with up to 1.05% copper and 0.36 g/t gold, covering 6.5 km of strike extent on the Diva Trend and only a fraction has been drill tested with very encouraging results in this round of exploration drilling.
- Drilling identified copper sulphides in both volcanic and intrusive rocks that indicate potential for a sulphide feeder deposit.
- The next priority drill target is at the Lourdes outcrop (Figure 1), which shows structurally controlled manto-style copper oxide mineralization similar to the Adriana and Carlotta zones.
"We appear to be in the right geological sequence of rock for a large discovery to be made that is similar to the nearby large manto-style Mina Justa deposit. The presence of mineralized intercepts is giving us confidence that we are drilling near a large distal ore body," said Chief Geologist, Jose Bassan. "Chalcopyrite, chalcocite, bornite, and oxidized copper have been logged in a rock assemblage of volcanic andesitic tuff with moderate alteration and the presence of epidote, chlorite, hematite, magnetite, and carbonates, and evidence of magnetite replacement by specularite. This is a lithological sequence similar to the new Mina Justa copper mine that is hosted in the same Chocolate Formation as Los Chapitos."
 Figure 1. Alteration Plan Map of Diva Trend Showing Recent and Historical Drillholes
The Company expects that a Declaracion Impacto Ambiental ("DIA") drilling permit will be received imminently, allowing for drilling to commence in the new Lourdes and Condori Zones located 3 km north of the Adriana Zone. The Company plans to prioritize its drilling between its Los Chapitos Project and its new Maria Cecilia copper porphyry project pending receipt of permits in the new year.
"We are selectively stepping out and drilling new mineralized areas as new permits become available at both our Los Chapitos and Maria Cecilia copper projects," said Jay Chmelauskas, CEO of Camino. "Both copper projects are expected to receive new DIA drilling permits at the end of 2021 or beginning of 2022, which will allow for more discovery drilling at the beginning of 2022. These projects have the right geology to make large scale copper discoveries which is our opportunity early next year."
 Figure 2. Chocolate Formation Hosting Copper Oxides in Drillhole DCH-074 at 74 Metres
The mineralization encountered in the recent drilling campaign was intercepted in volcanic andesites known as the Chocolate Formation (Figure 2), which is a sequence of volcanic rocks that extend along the coast of Peru and host other significant mining projects. Notably, the Mina Justa copper mine, located 100 km north of Los Chapitos, is Peru's newest copper and gold mine with invested capital of over $1.6 Billion. The Company believes that Los Chapitos has a similar alteration assemblage with hematite, magnetite, epidote, chlorite, feldspar, potassium, and calcite capable of hosting a major deposit like Mina Justa (Figure 3).
 Figure 3. Mina Justa Copper Deposit Footprint Compared Against the Los Chapitos Claims
All 5 exploration drillholes, totalling approximately 1,400 metres, have intercepted anomalous copper mineralization. Three drillholes in the Lidia Zone located 4 km to the north of the Adriana Zone and spaced approximately 75m apart, DCH-075, DCH-076, DCH-077, have intercepted copper mineralization up to 0.34% Cu and 0.36ppm Au, that appears continuous and manto-like between drillholes.
A step-out hole 1 km south of Adriana has extended the mineralization halo in the Katty Zone by 200 m. Drillhole DCH-079, located 2.5 km to the south of Adriana, intercepted anomalous copper enriched in secondary sulfide chalcocite, bornite, and covellite with up to 1.05% Cu and 9.32ppm Ag. The Company believes that the anomalous copper results in exploration drilling support the potential for a large-scale distal deposit.
Camino is selectively drilling new areas that the Company believes could intercept additional mineralization like the copper oxides at Adriana. The recent drilling campaign has also identified copper sulphides in the intrusive monzonite that may indicate a sulphide feeder deposit that would account for the widespread copper oxide mineralization at surface. Copper sulphides were also encountered in our 2020 drill campaign where DCH-072 intercepted up to 2.04% Cu in monzonite intrusives. The sulphide mineralization provides additional exploration potential at Los Chapitos.
 Figure 4. 2020 drill campaign. Chalcopyrite in hole DCH-072, interval 481.7-483.8m copper value up to 2.04% Cu
 Table 1. Drilling Results from Fall 2021 Drilling Campaign at Los Chapitos
Additional Information:
About Camino Minerals Corporation
Camino is a discovery and development stage copper exploration company. The Company is focused on advancing its high-grade Los Chapitos copper project located in Peru towards potential resource delineation and new discoveries. In addition, the company has commenced field studies at its copper and silver Plata Dorada project. Camino has also recently acquired the Maria Cecilia copper porphyry project. The Company seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.
Jose Bassan MAusIMM (CP) 227922, MSc. Geologist, a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and verified relevant data supporting the technical disclosure, including sampling and analytical test data.
ON BEHALF OF THE BOARD
/S/ "Jay Chmelauskas"
President and CEO
| For further information, please contact:
Camino Investor Relations
info@caminocorp.com
Tel: (604) 493-2058
|
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.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the prospectivity of future exploration work on the Los Chapitos and Maria Cecilia projects the ability to complete the necessary permit requirements for drilling, or that actual results of exploration and engineering activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Camino Minerals Corp. |
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| To: LoneClone who wrote (162117) | 12/14/2021 4:03:49 PM | | From: LoneClone | | | | Prospect Ridge Resources Announces 6th Zone With Visible Gold on Recently Acquired Knauss Creek/Holy Grail Property
ca.finance.yahoo.com
Prospect Ridge Resources Corp.
Tue., December 14, 2021, 2:00 a.m.·5 min read
Figure 1.
Photos from Hugin Zone
Figure 2.
Map of Hugin and Neighboring Zones
VANCOUVER, British Columbia, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Prospect Ridge Resources Corp. (the “Company” or “Prospect Ridge”) (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce preliminary results from exploration on the Hugin zone from the recently acquired Knauss Creek property returning assays of up to 3.49 grams per tonne gold in channels over 0.73 meters, part of a larger channel that averaged 2.4 grams per tonne over 1.54 meters.
The Hugin Zone is located only 5 linear-kilometers from CN Rail, with a direct line to deep water port at Kitimat, and only 1.3 kilometers away from the nearest logging roads. The Knauss Creek property is contiguous with the Holy Grail property, located on the eastern side of the district-scale land package. The zone was first discovered in the 1980’s, with minor trenching, soil sampling, geophysical work and prospecting completed to date. Below are some of the historical highlights.
Historical Highlights
A gossanous fracture zone with abundant galena-pyrite-arsenopyrite vein as stockwork occurs over 65 meters wide by 175 meter long and remains open at both ends
In 1996, assays returned 2.68 g/t gold over 35 cm
In 2000, samples returned 1.29 grams per tonne gold, 222.0 grams per tonne silver, 8.10 per cent lead and 1.73 per cent zinc
In 2002, assays returned 2.69 grams per tonne gold, 42.5 grams per tonne silver, 1.31 per cent lead and 2.71 per cent zinc
Most recent assays taken from the zone in 2017 returned 28.4 g/t Au, 210 g/t Ag, 9.13% Pb, including 5 others that averaged 1.42 g/t Au (up to 3.65 g/t)
In 2021, prospecting and channel cutting was completed across the main Hugin zone. Initial sample results from channel cutting has produced assays of up to 3.49 grams per tonne gold over 0.73 meters, included in a larger channel that averaged 2.4 grams per tonne over 1.54 meters. Another channel sample returned 2.18 grams per tonne gold over 1.52 meters, including 3.3 grams per tonne over 0.8 meters. Channel cuts were taken across a 0.25 to 0.5-meter-wide massive arsenopyrite-scoridte-pyrite-galena vein with extensive wall rock mineralization including silicification with disseminated sulphide and arsenopyrite-pyrite-galena stock work. The gossanous zone is located at the contact between a quartz diorite and hornfelsed sediment of the Bowser Lake group.
| Sample
| Au (ppm)
| Length (m)
| Line Au Average (ppm)
|
|
| D793788
| 0.015
| 0.72
| 2.18 over 1.52 m
|
|
| D793789
| 3.3
| 0.8
|
|
| D793790
| 3.4
| 0.73
| 2.4 over 1.54 m
|
|
| D793791
| 0.326
| 0.81
|
|
| D793793
| 2.5
| 0.91
|
|
|
| D793796
| 0.357
| 1.02
|
|
|
Figure 1. Table of 2021 Channel Samples
The Hugin Zone is one of several zones on the recently acquired Knauss Creek property. It is approximately 1.8 kilometers east from the historical Doreen Mine site that had rock sampling in 2021 produce up to 57.3 grams per tonne gold, and 2.5 kilometers south of the Mint 2B Zone which has returned channel assays of up to 30.8 grams per tonne gold over 0.71 meters in 2021. The Hugin Zone is unique compared to other mineralization on the property: the primary sulphide is arsenopyrite with lesser pyrite, galena and little quartz gangue. Mineralization in this area occurs in wide veins but also forms stockworks as fracture-fill in cross-cutting fractures sets, forming a broad mineralized zone. Remaining 2021 assays are still pending for the Hugin zone.
globenewswire.com
Figure 1. Photos from Hugin Zone
Michael Iverson, CEO states, “We are excited about these initial channel results from the Hugin Zone. This is a relatively new area with little previous exploration and strong exploration potential. We are looking forward to receiving more outstanding assays and exploring the areas in between these well-mineralized zones in 2022.”
Based on these preliminary results, further work will be conducted on the Hugin zone consisting of Lidar, prospecting, channel and soil sampling in preparation for drilling. Work is already underway in digitizing all the historical records to aid in exploration. The property is well-accessible through a network of logging roads and close to primary infrastructure, allowing for cost-effective exploration and good feasibility.
globenewswire.com
Figure 2. Map of Hugin and Neighboring Zones
Qualified Person
All scientific or technical information included in this news release has been reviewed, verified and approved by Rein Turna, P.Geol., a consultant to the Company and a qualified person as defined by National Instrument 43-101.
About Holy Grail
The Holy Grail Property is 10 kilometers outside of Terrace within 45 km from smelter and deep sea port; the property is easy-accessible bounded by two highways with CN rail, high tension power crossing the property and a network of logging roads over approximately 80% of the property which will make for a very cost-effective exploration and strong feasibility. Some of the key areas are located below tree line and can be worked nearly year-round.
The Holy Grail district sized package now contains over 80,000 hectares. The property was selected based on regional geological, structural, and geochemical resemblances that coincide with mineralization 50 km northwest in the Golden Triangle. The Company believes the project has the potential for a district scale hydrothermal system and will extend the boundaries of the Golden Triangle to cover this vast under-explored region.
About Prospect Ridge Resources Corp.
Prospect Ridge Resources Corp. is a BC based exploration and development company focused on strategic mineral exploration in Canada concurrently with developing a location in British Columbia and Quebec. Prospect Ridge’s technical team and management with over 100 combined years of mineral exploration experience believes the Holy Grail to have the potential for a district scale hydrothermal system and will extend the boundaries of the Golden Triangle to cover this vast under-explored region.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, positive exploration results at the Knauss Creek and Holy Grail projects. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that future exploration results at the Knauss Creek and Holy Grail projects will not be as anticipated.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the Knauss Creek and Holy Grail projects will be as anticipated.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
CONTACT: Contact Information Prospect Ridge Resources Corp. Michael Iverson, Chief Executive Officer Email: schen@redfernconsulting.ca Telephone: 778-788-4836 |
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| To: LoneClone who wrote (162118) | 12/14/2021 4:05:35 PM | | From: LoneClone | | | | Xplore Isolates Priority Geophysical Targets at the Upper Red Lake Property
newsfilecorp.com
Toronto, Ontario--(Newsfile Corp. - December 14, 2021) - Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company"), has identified and prioritized targets at its Upper Red Lake Project ("Upper Red Lake"), located in the Red Lake Mining Division, Ontario.
Jeremy S. Brett, M.Sc., P.Geo., Senior Consulting Geophysicist, Jeremy S. Brett International Consulting Ltd., has reviewed the airborne magnetic data for the Upper Red Lake property, identifying six priority anomalies for field follow-up (Ref. Figure 1.0). A brief overview of each target follows:
C1 An E-W MAG high, the C1 target, traceable over 2,200 metres within mapped granodiorites, interpreted to represent possible ultramafic volcanic rocks emplaced along and wrapping around the granodiorite-greenstone contact.
C2 A second E-W MAG high response with multiple interpreted structural offsets that parallels the C1 target but is more broken up. C2 occurs along the interpreted trendline of Prosper Gold Corp's Golden Sidewalk Project to the east.
C3 A WNW structural trend, the C3 target is interpreted to represent the western continuation of Prosper Gold Corp's Golden Sidewalk trend.
N1 A NNW striking MAG high, the N1 target, traceable over 700 metres lying entirely within mapped greenstones in the northern most part of the claim block, and potentially another ultramafic intrusive emplaced along the granodiorite-greenstone contact.
S1 Five, semi-circular MAG high signatures, the S1 targets, that may reflect potential kimberlites or small diameter untramafic intrusives oriented along a NW trend entirely within mapped tonalites.
S2 Two semi-circular MAG highs oriented along a NW trend within the mapped tonalite, identified as the S2 targets.
Waldo Sciences Inc. ("Waldo") Vernon, B.C., completed preliminary reconnaissance mapping, prospecting, till and rock sampling of the C1, 2 and 3 target areas in October 2021. Waldo's work identified several meta-volcanic outcrops with disseminated sulphide mineralization at Targets C2 and C3 which lie along strike of Prosper Gold's Golden Sidewalk target. Waldo collected samples from outcrop and completed reconnaissance scale gold in till sampling of the C2 and C3 target areas. Results are anticipated in Q1, 2022.
Wes Hanson, P.Geo., President and CEO of Xplore, notes, "The objective of the airborne survey was to prioritize targets for follow-up mapping, sampling and, if warranted, drilling. We were fortunate that Waldo was able to access the site and prospect the C1,2 and 3 target areas prior to the onset of winter. We expect the results of the reconnaissance samples collected by Waldo in Q1, 2022. The Red Lake - Birch Uchi greenstone belt is seeing a significant surge in interest following the success of Great Bear Resources at their Dixie Project which has led to a takeover bid by Kinross Gold, valued at C$ 1.8 billion, and First Mining Gold Corp's decision to develop the Springpole deposit. In addition, Barrick Gold has announced two separate transactions to earn into the Red Lake camp, further evidence that Red Lake is a compelling exploration district."
Mr. Hanson also notes, "The anomalous gold in till results identified by the Geological Survey of Canada lie entirely within a large tonalite and are well south and down ice of the projected trend of Prosper Gold Corp's Golden Sidewalk project volcanic host rocks. The GSC results indicate grades of up to 1,200 ppb Au with numerous, pristine gold grains observed in the four samples spread across a 4,000 metre strike extent. These anomalous gold in till results currently remain unexplained."
About Xplore Resources (TSXV: XPLR)
Xplore Resources is a Toronto based mining exploration company listed on the TSX Venture Exchange under symbol XPLR and is focused on the acquisition and development of copper and gold projects in the Americas. The Company is led by a highly experienced management team and is comprised of industry experts with executive and senior management experience.
Qualified Persons
Mr. Wes Hanson, P. Geo., President & CEO of Xplore and registered in the Provinces of Ontario is the "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
ON BEHALF OF THE BOARD
"Wesley C. Hanson"
President & CEO
For further information, please contact:
Phone: +1 647-362-9675
Email: info@xploreresources.com
Figure 1.0 - Upper Red Lake - Total Magnetic Intensity with Priority Targets
To view an enhanced version of Figure 1.0, please visit:
orders.newsfilecorp.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
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
THE TSX VENTURE EXCHANGE INC. HAS IN NO WAY PASSED UPON THE MERITS OF THE PROPOSED TRANSACTION AND HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.
Notice on forward-looking statements:
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Xplore cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Xplore's control. Such factors include, among other things: risks and uncertainties relating to Xplore's ability to complete the proposed Transaction; and other risks and uncertainties, including those to be described in the Filing Statement to be filed by Xplore on SEDAR.com. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Xplore undertakes no obligation to publicly update or revise forward-looking information. |
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| To: LoneClone who wrote (162119) | 12/14/2021 4:07:31 PM | | From: LoneClone | | | | QuestEx Gold & Copper Identifies New Porphyry Target on Sericite Ridge, KSP Property
newswire.ca
QuestEx Gold & Copper Ltd. Dec 14, 2021, 08:30 ET
VANCOUVER, BC, Dec. 14, 2021 /CNW/ - QuestEx Gold & Copper Ltd. (TSXV: QEX) (OTCQX: CLASF) ("QuestEx" or the "Company"), is pleased to announce the results of a 24-line-kilometre ("km") Induced Polarization ("IP") survey conducted on QuestEx's KSP property, located in British Columbia's prolific Golden Triangle district. The IP survey identified a new top tier porphyry copper-gold exploration target by testing beneath the extensive 8 by 3.5 km Sericite Ridge alteration zone, where it identified an approximately 1,500 by 1,000 metre ("m") area with coincident high chargeability and high resistivity ( Figures 1, 2 and 3), a geophysical signature consistent with porphyry copper-gold systems.
QuestEx_Exploration_Figure2_2021_12 (CNW Group/QuestEx Gold & Copper Ltd.)
Joe Mullin, QuestEx CEO comments: "The 31,200 hectare road accessible KSP property, in the heart of British Columbia's prolific Golden Triangle, was the focus of QuestEx's 2021 exploration campaign. We are enthused by the results we have seen from that campaign to date from geophysical work on Sericite Ridge. With the new identification of an impressive porphyry copper-gold target beneath Sericite Ridge, it is clear the KSP property has exciting potential for a multi-target exploration program in 2022."
Highlights of the Sericite Ridge Porphyry Copper-Gold Target:
- Geological Highlights:
- At 8 km long, Sericite Ridge is host to one of the largest alteration zones in the Golden Triangle ( Figure 1).
- Located in the footwall of the Khyber thrust fault ( Figure 1), a setting analogous to other significant deposits in the Golden Triangle including Kerr, Sulphurets, Iron Cap and Saddle North.
- Includes the Tami gold showing where gold and copper occur in association with sheeted and stockwork quartz-magnetite-chalcopyrite veins.
- Geochemical Highlights:
- Three silt samples from streams at the base of Sericite Ridge rank within the 100th percentile for porphyry copper-gold prospectivity within the Golden Triangle according to a 2018 study by Geoscience BC1.
- Some of the best historic results at Tami include 2.8 g/t gold ("Au") and 0.48% copper ("Cu") over 16.0 m in trench 14-006b, and 1.74 g/t Au and 0.24% Cu over 40 m in drill hole 17-115 from 5.0 m depth ( Figure 1).
- Geophysical Highlights:
- Newly identified coincident chargeability and resistivity highs covering a 1,500 by 1,000 m area not yet drill-tested below 250 vertical m ( Figures 2 and 3).
- Three-dimensional ("3D") model of airborne magnetic data indicates a buried magnetic high associated with the newly identified chargeability and resistivity highs ( Figure 2).
Tony Barresi, QuestEx's President comments: "Porphyry copper-gold deposits in the Golden Triangle and around the world have geophysical signatures comparable to what we are seeing at Sericite Ridge. Sericite Ridge has long been recognized as having porphyry copper-gold potential, but previous drilling focused on near surface copper and gold mineralization or shallow magnetic anomalies. The Induced Polarization survey conducted this year has identified a truly 'porphyry-sized' target, shallowly buried, in the middle of the impressively large Sericite Ridge alteration zone. This is a first-order porphyry target with all the signature geology, geophysics and geochemistry characteristics, and located in the heart of a district that hosts some of the world's largest porphyry copper-gold deposits."
2021 Induced Polarization Survey – Sericite Ridge
A 24-line-km IP survey was conducted by Peter E. Walcott and Associates Ltd. ("Walcott") over the Sericite Ridge alteration zone. The eight-channel, pole-dipole, IP survey was configured with eight 200 m spaced lines, with the longest line (4.3 km) running roughly along the ridge crest ( Figure 1). Chargeability and resistivity data from the survey are interpreted to a vertical depth of approximately 350 m. The survey detected shallow chargeability anomalies associated with the Tami copper-gold prospect on the southern end of the survey area, as well as several other shallow chargeability anomalies that have not been tested by drilling. The primary porphyry copper-gold target identified by the survey is outlined by an approximately 1,500 by 1,000 m coincident chargeability and resistivity anomaly with portions that register greater than 90 mV/V chargeability and 10,000 ohm-m resistivity ( Figures 2 and 3). Beneath the ridgetop the anomaly intensifies at a depth of approximately 220 m but survey lines along the eastern flanks of the ridge identify continuations of the anomaly at depths less than 50 m. 3D inversions of airborne magnetic geophysical data indicate magnetic high anomalies at approximately the same depths as the chargeability and resistivity highs. Only two historical drill holes test the coincident anomalies, DDH18-147 and DDH18-150. These holes bottomed in the outer shell of the chargeability high and drill logs from both holes record a doubling of the sulphide content to 4-5% at the bottom of the holes. In DDH18-150, the increased sulphide content was accompanied by an increase in gold and copper grades, bottoming at 285 m in 0.2 g/t Au and 0.036% Cu over 2 m ( Figure 3).
Sericite Ridge
Sericite Ridge is located near the centre of the KSP property and is more accessible than most other showings on the property due to its lower elevation and proximity to QuestEx's road accessible core logging facility. The ridge lies in the immediate footwall of the Khyber thrust fault and comprises a north-northeast oriented roof pendant of Stuhini Group (Triassic) sedimentary and volcanic rocks within the Lehto Batholith. Mapping conducted by the British Columbia Geological Survey2 identified the 8 by 3.5 km Sericite Ridge alteration zone as encompassing the roof pendant and portions of the surrounding Lehto Batholith. The alteration consists mainly of strong to intense sericite and chlorite dominant facies with localized domains of strong silicification.
There are at least eight named mineral showings across Sericite Ridge, and each is associated with porphyry dykes and/or north-northeast or east-west oriented faults. The most advanced showing is Tami, which is outlined by a 1,000 by 220 m gold and copper in soil anomaly and has previously been tested by 6,261 m of drilling in 40 shallow drill holes. Tami is an at-surface, fault-imbricated, porphyry-related, mineral system with sheeted and stockwork quartz-magnetite-chalcopyrite veins. It is associated with a localized domain of high chargeability, resistivity and magnetic susceptibility and may represent a faulted, or higher-level fault controlled, portion of the larger and more intense coincident anomalies that have now been identified at depth to the northeast of Tami.
Sericite Ridge was considered a high potential porphyry copper-gold target by previous explorers (e.g. Homestake Mining Co.), however, the size of the overall alteration system made targeting difficult, so exploration focused on the Tami zone where mineralization is exposed at surface. QuestEx's 2021 IP survey over Sericite Ridge has delineated previously unrecognized porphyry copper-gold targets that the Company intends to drill in 2022.
The IP data presented in this news release is preliminary and based on chargeability and resistivity cross-sections provided by Walcott. QuestEx expects to receive more detailed interpretations of the data including a 3D inversion model early in 2022. The full set of chargeability and resistivity cross-sections are available on the Company's website.
Inel Update
A 2,418 m, 13 drill hole exploration campaign was conducted in 2021 on the Inel Gold prospect, which is also located on the KSP property, approximately 4 km west of Sericite Ridge. The Company expects to begin releasing drill results from Inel in early January 2022, and to announce an inaugural National Instrument ("NI") 43-101 Mineral Resource Estimate for Inel by the end of Q1, 2022.
Qualified Person
Tony Barresi, Ph.D., P.Geo., QuestEx's President, a Qualified Person within the meaning of NI 43-101, has reviewed and approved the technical information in this news release.
We seek safe harbour.
References
Arne, D., Mackie, R., Pennimpede, C., Grunsky,E., Bodnar, M., Martinez Vargas, A., Wholley, D., (2018): Integrated Assessment of Regional Stream-Sediment Geochemistry for Metallic Deposits in Northwestern British Columbia. Geoscience BC Report 2018-14.Kyba, J. and Nelson, J.L., (2015): Stratigraphic and Tectonic Framework of the Khyber-Sericite-Pins Mineralized Trend, Lower Iskut River, Northwest British Columbia. BC Geological Survey Fieldwork 2014, Paper 2015-1.About QuestEx
QuestEx Gold & Copper Ltd. is exploring for gold and copper with a focus on the Golden Triangle and Toodoggone areas of British Columbia, Canada. It has a 100% ownership interest in one of the largest portfolios of mineral tenures in British Columbia's metal-rich Golden Triangle. The portfolio includes the 312 square km KSP property, which is surrounded by some of the most important past and current mining and development projects in British Columbia (e.g. Eskay Creek, Snip, Brucejack, KSM, Johnny Mountain). In 2022, QuestEx intends to release a NI 43-101 Mineral Resource Estimate for the Inel gold system, located on the KSP property. In the northern corner of the Golden Triangle in the Red Chris mining district, QuestEx's portfolio includes the Castle property, a porphyry copper-gold project located adjacent to Newmont's Tatogga property, and along trend of the Saddle North porphyry copper-gold deposit (more than10 million ounces gold, in all categories). Other properties include North ROK, Coyote, and Kingpin in the Golden Triangle, Sofia in the Toodoggone district, and Heart Peaks and Hit in other strategic districts within British Columbia. These assets are being advanced by a newly assembled technical and management team with experience in exploration, permitting and discovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD & COPPER LTD.
"Joseph Mullin"
Joseph Mullin
Chief Executive Officer and Director
Neither the TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of TSX-V) accepts responsibility for the adequacy or accuracy of this release.
NR 21-21
Cautionary Note Regarding Forward-Looking Statements
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators as well as the risk that the ongoing COVID-19 pandemic may have on the Company's business. Important factors could cause actual results to differ materially from QuestEx expectations. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. QuestEx does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE QuestEx Gold & Copper Ltd.
 For further information: T: (250) 768-1511, W: www.questex.ca
Related Links www.coloradoresources.com |
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| To: LoneClone who wrote (162120) | 12/14/2021 4:10:12 PM | | From: LoneClone | | | | Doubleview Provides Diamond Drilling Update at Hat Polymetallic Deposit
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - December 14, 2021) - Doubleview Gold Corp (TSXV: DBG) (OTC PINK: DBLVF) (FSE: 1D4) ("Doubleview", the "Company") is pleased to announce the completion of the 2021 diamond drilling program at its 100% owned Hat Polymetallic deposit. The program comprised four drill holes with total length 2,476 meters.
The 2021 drill program was designed to test the northeast and east extensions of the Lisle Zone where deep induced polarization geophysical data showed strong continuation of chargeability structures. Drill holes H038, H039 and H040 were long step-outs to the northeast with collars approximately 290 metres from hole H023 and Hole H041 was collared approximately 242 metres east of hole H09 and 540 metres northeast of H034, the most southerly hole on the property. All drill holes with the exception of H038 reached intended target areas but may be re-entered and further deepened if analytical data shows potential.
Doubleview President and CEO, Mr. Farshad Shirvani stated "The Company is encouraged by the successful completion of its accomplished 2021 exploration program. All technical details are being compiled and initial visuals indicate that the Lisle Zone may be significantly expanded to the east and northeast.
Additionally, camp facilities were upgraded to support a larger follow-up exploration program that will commence in early 2022. Due to the planned increase in the scale of operations and Covid-19 pandemic concerns, it was necessary to create additional living spaces and enhanced security measures, that include video monitoring of the camp and surrounding areas.
Drill cores have been photographed, logged and sampled under regular QA/QC procedures and have been forwarded to an independent accredited lab for analysis. Analytical results will be published when received and verified.
The Company's exploration focus continues to be on gold and copper and also on important critical metals, including cobalt, palladium and scandium as announced in the Company's news release dated July 22nd, 2021".
Hat deposit characterization:
The Hat deposit is considered a polymetallic porphyry deposit with characteristics similar to those of many of British Columbia's major deposits. In addition to gold and copper, Hat mineralization carries possibly significant quantities of the important North American strategic metals, some of which have unique metallurgical characteristics that are currently being studied at a British Columbia research facility. Sulphide mineralization, primarily chalcopyrite, occurs in fracture zones in dioritic intrusive rocks and strongly altered andesitic volcanic and volcaniclastic rocks of Upper Triassic age.
Doubleview acquired the Hat Property in 2011 and subsequently conducted numerous technical surveys and drill programs. The Lisle Zone was discovered in 2013 and several other target areas remain to be explored. Work is conducted by Company personnel and by accredited consultants and contractors.
About Doubleview Gold Corp:
Doubleview Gold Corp is a mineral resource exploration and development company based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX Venture Exchange (TSXV: DBG) (OTC PINK: DBLVF) (FSE: 1D4) (GER: A1W038). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through the acquisition and exploration of quality gold, copper, silver and critical metals properties and the application of advanced state-of-the-art exploration methods. Doubleview's portfolio of strategic properties provides diversification and mitigates investment risk.
On behalf of the Board of Directors,
Farshad Shirvani, M.Sc. Geology
President and CEO
For further information please contact:
Doubleview Gold Corp
Vancouver, BC, V6C 1V5
corporate@doubleview.ca
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview's control. Such factors include, among other things: risks and uncertainties relating to Doubleview's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.
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 (162121) | 12/15/2021 11:18:49 AM | | From: LoneClone | | | | District Copper Adds More Land to Copper Keg Property, Completed IP Survey
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - December 14, 2021) - District Copper Corp. (TSXV: DCOP) ("District Copper") is pleased to announce that it has secured an option with an arm's length vendor to acquire three (3) mineral claims encompassing 1513.93 hectares of mineral exploration lands surrounding the Copper Keg project located in the Cache Creek area of British Columbia. These claims will be acquired by District Copper for and in consideration of the sum of $25,000 and issuance and allotment of 1,500,000 common shares of District Copper in installments of:
a $5,000 non-refundable deposit on signing of the Option Agreement;
$10,000 and 1,000,000 fully paid and non-assessable shares within fourteen (14) days after the Option Agreement is accepted for filing by the TSX Venture Exchange; and
$10,000 and 500,000 fully paid and non-assessable shares eighteen (18) months after the date of TSX Venture Exchange acceptance of the Option Agreement.
The purchase is subject to a 1.0% Net Smelter Return Royalty with a buy down clause which would allow District copper to purchase one half of the Royalty for $500,000.
The terms of the agreement are subject to TSX Venture Exchange approval.
The addition of these three mineral claims to its Copper Keg land package increases the total area of interest for the project to 3272 hectares.
District Copper has just completed an Induced Polarization survey on the Copper Keg property. The survey was carried out by Quantec Geoscience, using their Titan 120 DCIP system. The survey covered 19.3 line-kilometers, with penetration as deep as 600 meters. A detailed interpretation of the data will be performed in the New Year.
The new land is underlain by the same geological sequences, comprising Kamloops sediments, Nicola Group volcanics and intrusive phases of the Guichon Creek Batholith. These rocks have been intruded by several phases of late-stage quartz feldspar porphyry and mafic dikes. The Nicola Group volcanics are reported to be in fault contact with the Guichon Creek batholith, although there are indications from historic assessment reports that an intrusive contact is also a possibility.
The central portion of the Guichon Creek Batholith hosts the large porphyry copper deposit located in the Highland Valley currently being mined by Teck Resources Limited. The Copper Keg property is located at the northern boundary of the Guichon Creek batholith, and District Copper intends to explore the property using the porphyry style copper deposits in the Highland Valley as its exploration model.
Chris M. Healey, P.Geo., a Director of District Copper, is the Company's non-independent Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical information disclosed in this news release.
About District Copper
District Copper is a Canadian company engaged in the exploration for copper deposits in Central British Columbia.
For further information, please visit www.districtcoppercorp.com to view the Company's profile or contact
Jevin Werbes at 604-620-7737.
__________________________
Jevin Werbes, President & CEO
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. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution in the United States or over United States newswires. |
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| To: LoneClone who wrote (162122) | 12/15/2021 11:25:49 AM | | From: LoneClone | | | | NOMAD ANNOUNCES CLOSING OF GREENSTONE GOLD STREAM, PROVIDES ASSET UPDATES AND ANNOUNCES TIMELINE FOR 2022 GUIDANCE
newswire.ca
- Français
Nomad Royalty Company Ltd. Dec 15, 2021, 06:00 ET
TSX: NSR
NYSE: NSR
(in U.S. dollars unless otherwise noted)
MONTREAL, Dec. 15, 2021 /CNW Telbec/ - Nomad Royalty Company Ltd. ("Nomad" or the "Company") (TSX: NSR) (NYSE: NSR) is pleased to announce the closing of the first deposit of $13.3 million under its previously-announced gold purchase agreement (the "Gold Stream") with OMF Fund II (SC) Ltd., a subsidiary of Orion Mine Finance, ("Orion") with respect to its 40% interest in the Greenstone Gold Mines LP ("GGM"), which is the owner and operator of the Greenstone Gold Project located in Ontario, Canada (the "Greenstone Project") (see Nomad's press release dated October 29, 2021).
Pursuant to the Gold Stream, Nomad is required to make up-front cash payments totalling $95 million, of which $13.3 million was made yesterday, for 5.938% of gold production attributed to Orion's 40% interest in GGM until 120,333 ounces have been delivered, and 3.958% thereafter. A second and final deposit of $81.7 million is expected to be advanced no later than June 30, 2023 under the Gold Stream.
Nomad is also pleased to provide the following updates from its royalty and stream portfolio and announce that it expects to publish its GEO production guidance for the 2022 calendar year during Q1 2022.
BLYVOOR UPDATES 2022 GUIDANCE: Blyvoor Gold Capital Pty ("Blyvoor Gold") has revised 2022 gold production to 40,000 to 50,000 ounces. The updated 2022 budget accounts for a slower ramp-up to the initial 80,000 ounce per year run rate, primarily as a result of a delay in opening up new mining areas on levels 23 and 25. As such, expected attributable 2022 production to Nomad from the Blyvoor stream has been updated to a range of 4,000 to 5,000 ounces. During the fourth quarter, the Blyvoor mine also became cash-flow positive, an important milestone for Blyvoor Gold.
WOODLAWN STRATEGIC PROCESS NEARING COMPLETION: The strategic process at the Woodlawn mine is nearing completion. Given the longer than expected timeline to complete the restructuring and restart of Woodlawn, Nomad now does not expect any deliveries from Woodlawn in 2022.
ROBERTSON RESOURCE DEFINITION PROGRAM CONTINUES: On November 4, 2021, Barrick Gold Corporation ("Barrick") announced that resource definition drilling is ongoing at Robertson. Results continue to meet expectations and the program remains on track to add significant resources for the year-end update. Follow up drilling to grow the deposit westward at the Distal target is in progress. Further to the northwest, field mapping and sampling highlights further potential related to additional parallel faulting with strong alteration. Additional step-out drill testing is planned to start in early 2022.
GREENSTONE CONSTRUCTION RAMPING UP: Greenstone is ramping up to full-scale construction, and first gold is scheduled for the first half of 2024. The development is well advanced with 85% of the project engineering completed. Additionally, the project leadership team and temporary workforce camp are in place. Phase 1 road building and tree clearing has been completed, allowing to start the tailings facility works.
MERCEDES OPENING NEW OREBODIES: At Mercedes, work is underway on a large development program that will increase access to multiple ore bodies. Equinox Gold Corp. ("Equinox") currently produces from Diluvio and Lupita and expects to add in Marianas, followed by the Rey de Oro area, ore bodies which will enable Equinox to increase the plant throughput, which is currently working on a campaign basis. In addition, the Mercedes mine was recognized for the eighth consecutive year as a Socially Responsible Company by the Mexican Centre for Philanthropy (CEMEFI).
SOUTH ARTURO OPERATION CONSOLIDATED BY BARRICK: Barrick acquired the 40% interest in the South Arturo Joint Venture that it did not already own. This allows Barrick to consolidate production from the South Arturo open pit and the El Niño underground in the short term and capture 100% of the longer-term upside on both orebodies. Additionally, it provides Barrick with flexibility to pursue other potential operational synergies at Goldstrike. As part of the South Arturo Stream Agreement Nomad is entitled to deliveries from Barrick of 40% of the ounces of refined silver in attributable production from the existing mineralized areas at South Arturo and 20% of ounces of refined silver in attributable production from the exploration stream area.
RDM EXPLORATION PROGRAM RESTARTED: At RDM, the stripping program continued during the third quarter and is expected to last until the end 2021. Higher volumes of low grade were mined during the third quarter, but the operation still achieved production of 15,880 ounces, and RDM remains on track to achieve 2021 guidance of 60,000 to 65,000 ounces. Importantly, the exploration program was restarted, focused on strike extensions from the open-pit area. This is the first exploration program that has been initiated in several years, so Equinox is looking forward to seeing results come out of that program and will work on doing more exploration in the RDM area.
MOSS EXPANDS DRILL PROGRAM: Elevation Gold Corp. ("Elevation") announced exciting results from their infill-exploration drilling program which demonstrate the expansion potential at the Moss mine. The program intersected thick zones of significant stockwork-hosted precious metal mineralization in the Gold Bridge area and provided further support for the potential to amalgamate the West and Center pits into a single pit. New drill results along almost 175 meters of the Moss vein system in the Eastern Extension area highlight the mine expansion potential to the east. Elevation is planning an expanded drilling program for 2022, focusing on both resource expansion and exploration drilling.
TROILUS CONTINUES FAST-PACED DEVELOPMENT SCHEDULE: Following extensive exploration programs of over 150,000 metres of drilling, Troilus Gold Corp. ("Troilus") anticipates releasing an inaugural reserve and initiate the federal permitting process by the end of 2021. During the second half of 2022, Troilus plans to release a feasibility study. A construction decision is expected prior year end 2022.
ARTEMIS RAISES $141 MILLION TO FUND DEVELOPMENT AND CONSTRUCTION OF BLACKWATER: On November 16, 2021, Artemis Gold ("Artemis") announced a $141 million definitive Precious Metals Purchase Agreement which will be used to fund the advancement of the development and construction of the Project. The start of construction for Blackwater is currently targeted for the second quarter of 2022.
QUALIFIED PERSON
Vincent Cardin-Tremblay, P. Geo., Vice President, Geology of Nomad Royalty is the "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects who has reviewed and approved the technical content of this news release.
ABOUT NOMAD
Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 16 royalty and stream assets, of which 8 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.
Nomad Royalty Company Ltd.
500-1275 ave. des Canadiens-de-Montréal
Montreal, Québec H3B0G4
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Forward-looking statements
Certain statements contained in this press release may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur including, without limitation, the satisfaction of all conditions precedent for funding the second and final deposit under the Gold Stream; the realization of the anticipated benefits to Nomad under the Gold Stream; the timing for the development and construction of the Greenstone Project, including works relating to the tailings; the timing for the expected publication by Nomad of its GEO production guidance for 2022; the 2022 annual gold production of Blyvoor Gold; the expected amount of ounces attributable to Nomad from the 2022 annual production under the Blyvoor stream; the outcome of, and timing for the completion of the strategic process at the Woodlawn mine; the results of the exploration works to be obtained by Barrick on the Robertson property, including its resource definition drilling program, the timing for the commencement of the drill testing program; the outcome of the development program at the Mercedes mine to increase access to multiple ore bodies; the expected commencement of production on the Marianas and the Rey de Oro areas at the Mercedes mine; the outcome and timing for the completion of the exploration program by Equinox on RDM; the achievement of the 2021 guidance of ounces produced at RDM; the realization of an expanded drilling program on at Moss; the timing for the release of the inaugural reserve, to initiate the federal permitting process and the release of a feasibility study by Troilus; and the expected timing to begin construction at the Blackwater project by Artemis. Although Nomad 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 may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the impossibility to proceed with the closing of the second and final deposit, fluctuations in the prices of the primary commodities that drive royalty and stream revenue, Nomad's royalty and stream interests, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing, general economic, market and business conditions, risks relating to the Gold Stream and its completion; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risks they entail. Nomad believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.
SOURCE Nomad Royalty Company Ltd.
 For further information: about Nomad Royalty Company, please visit our website at www.nomadroyalty.com or email us: Vincent Metcalfe, CEO, vmetcalfe@nomadroyalty.com; Joseph de la Plante, CIO, jdelaplante@nomadroyalty.com
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