SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Gold/Mining/EnergyMining News of Note


Previous 10 Next 10 
To: LoneClone who wrote (162398)12/22/2021 1:20:24 PM
From: LoneClone
   of 166802
 
Newrange Provides Year-end Update on Pamlico Project

thenewswire.com

VANCOUVER, BRITISH COLUMBIA - TheNewswire - December 20, 2021 (TSXV:NRG) (OTC:NRGOF) (Frankfurt: X6C) Newrange Gold Corp. ("Newrange" or the “Company") is pleased to provide an exploration update and overview of targets being developed on its Pamlico Project in Nevada where the Company is outlining a large-scale, multi-phase, polymetallic mineralizing system.

As indicated in Newrange press release of October 6, 2021, ongoing mapping, rock and soil sampling, in conjunction with the expanded IP survey, are building upon the knowledge base that was previously confined to the historic Pamlico Mines area. Within the recently enlarged property (now more than 5,700 hectares) covering an area that has seen little to no previous exploration, Newrange geologists have identified a multi-phase intrusive system with locally strong copper +/- zinc mineralization at surface.

“Our field geologists are making great progress on the evaluation and understanding of the geological setting of the enlarged property,” stated Robert Archer, Newrange President & CEO. “We are starting to build a district-scale framework for the gold and copper mineralization that we are seeing, incorporating a re-evaluation of known zones with recently discovered ones. This approach is allowing us to groom several significant target areas for drilling in 2022.”

Target Areas:

  • Merritt Area/Pamlico Mines: Gold mineralization in and around the Merritt Decline is being reinterpreted with the goal of further defining, and potentially enlarging, the zone of near surface high-grade gold.

  • “91” Zone: Discovered in late 2020 in the historic Central Mine area, 1,300 metres northeast of the Merritt Decline, the “91” Zone presents a significant bulk tonnage gold target.

  • La Panta Mine: In the northern part of the property, the historic polymetallic La Panta Mine is being re-evaluated for potential continuations of gold-silver-copper-lead-zinc mineralization.

  • Pamlico East: Southeast of La Panta, a north-south copper-bearing shear (see Fig. 1) has been identified that shows a strong spatial association with a similarly-trending and three-kilometre-long Induced Polarization (IP) anomaly. As previously reported (Oct. 6, 2021), grab samples along the structure have returned 5.59%, 1.36%, 2.43% and 1.63% copper over a strike length of approximately 250 meters.


Click Image To View Full Size

Fig. 1: Copper-bearing shear in limestone, ‘Pamlico East’ Target Area

  • Skarn Zone/McGill Canyon: Rock and soil sampling in this area, approximately 4 kilometres southeast of the Merritt Decline, demonstrates widespread gold-silver-copper-lead-zinc mineralization proximal to the contact between a felsic intrusive and limestones and coincident with a moderate IP anomaly. In particular, grab samples with individual assays of up to 3.0 g/t gold, 2.8% copper and 5% zinc, were taken over an area of 1.2 kilometres east-west by 1.3 kilometres north-south.*

  • Pamlico South: In this new area, south of the Skarn Zone and extending along the southern part of the property, several intrusive bodies have been recognized and are being mapped out in more detail. Grab samples from shears, veins and contact zones within the intrusive rocks returned up to 3.75% copper with associated endoskarn alteration (see Fig. 2), while copper mineralization up to 4.2% in grab samples along with widespread anomalous copper, zinc and lead in soils is associated with exoskarn alteration within the adjacent sedimentary rocks.* This extensive area is underlain by a strong chargeability (IP) anomaly roughly 3 kilometres across.


Click Image To View Full Size

Fig. 2: Copper-bearing intrusive rocks in old dump, ‘Pamlico South’ Target Area

Property-wide mapping and rock sampling is ongoing and the aforementioned target areas (see Fig. 3) are being prioritized for drilling in 2022.

Quality Assurance/Quality Control

All rock samples were securely stored following collection and delivered to Paragon Geochemical Laboratories in Sparks, Nevada for preparation and analysis. Samples are dried then stage crushed to 70% passing 10 mesh. A 250-gram sub-sample is then split out and pulverized to 85% passing 200 mesh from which 1 Assay Ton (approximately 30-gram) samples are split for analysis by fire assay (FA) with an Aqua Regia (AQR) digest and OES finish. Samples assaying in excess of 5 g/t Au are re-assayed by FA with a gravimetric finish. Silver was determined by FA with an atomic absorption finish. Samples submitted for multi-element geochemistry were subjected to AQR digestion and ICP-OES. In addition to the QA/QC conducted by the laboratory, the Company inserts blanks, duplicates, standards, and certified reference material (CRM) at a rate of not less than 1 in 20.


Click Image To View Full Size

Fig. 3: Pamlico Project Compilation Map

(*Note: A total of 130 grab samples with assays ranging from <5 to 3,000 ppb (3.0 g/t) gold, 1 to 56,000 ppm (5.6%) copper and 2 to 49,600 ppm (4.96%) zinc were taken across the property and those mentioned are for illustrative purposes only.)

Qualified Person

Mr. Robert A. Archer, P. Geo, a Qualified Person as defined by National Instrument 43-101, and the President and CEO of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release.

About Newrange Gold Corp.

Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada and Ontario. The Company’s Pamlico Project in Nevada contains a large-scale multi-phase polymetallic mineralizing system with multiple gold and copper targets spread over more than 5,700 hectares. In the prolific Red Lake District of northwestern Ontario, the past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.

Signed: “Robert Archer”

President & CEO

For further information contact:

Sharon Fleming Dave Cross

Corporate Communications Chief Financial Officer and Corporate Secretary

Phone: 760-898-9129 Phone: 604-669-0868
Email: info@newrangegold.com Email: dcross@crossdavis.com

Website: www.newrangegold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement:

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.


Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162399)12/22/2021 1:22:10 PM
From: LoneClone
   of 166802
 
Avrupa to Acquire Four Exploration Properties in Finland

thenewswire.com

  • Three base metal properties cover approx. 600 km in the Vihanti–Pyhäsalmi VMS Belt, central Finland

  • 65 km south of Pyhäsalmi base metal mine and flotation plant

  • Two properties contain small historic copper/zinc resource estimates (see below)

  • Under-explored gold property located in the Oijärvi Greenstone Belt in north-central Finland included in property package

  • Binding Letter Agreement signed with private Finnish company

  • Avrupa to pay 3 million common shares, €165,000, and fund earn-in exploration expenditures of €400,000 to earn 100%

Vacouver, BC - TheNewswire - December 20, 2021 - Avrupa Minerals Ltd. (TSXV:AVU) (OTC:AVPMF) is pleased to report that it has signed a binding letter agreement (the “Letter Agreement”) with Dutch holding company, Akkerman Exploration B.V., to acquire 100% ownership of Akkerman Finland OY (“AFOy”). Finnish-registered AFOy owns three mineral reservations in the past-producing and highly prospective Vihanti-Pyhäsalmi VMS district in central Finland. Deposits in this belt are similar, though much older than those found in the Iberian Pyrite Belt where Avrupa is currently drilling in southern Portugal. The three projects will be upgraded from a “reservation” to “licenses” as the first step of the exploration program. Once license areas are defined and the application process is underway, Avrupa will oversee detailed systematic data compilation and review, historic drill core review, basic surface geochemical exploration, and new drill targeting in preparation for drilling when the license applications are approved.

The acquisition includes a fourth reservation held by AFOy covering under-explored gold targets in a greenstone belt-hosted, major shear zone located along strike from the Oijärvi gold project recently purchased by Gold Line Resources Ltd. from Agnico Eagle Mines Limited.

Paul W. Kuhn, President and CEO of Avrupa, commented, “We are excited to make these additions in two active, historic mining districts in Finland to our ongoing projects in Portugal and Kosovo. The current market for copper and zinc is growing rapidly to support the advancement of new environmentally-friendly technologies that are already important contributions to the manufacture and use of fully electric vehicles. EV’s use, on average, 180 pounds of copper per vehicle. The historic exploration on these projects by the Geological Survey of Finland and Outokumpu during the 1960’s through the 1980’s will form a strong base to outline new copper-zinc targets in central Finland. Finally, we are equally excited to acquire a new gold project in the highly prospective Oijärvi gold district close to an existing reported historic resource.”

Acquisition Terms

Avrupa can earn an initial 49% of AFOy in Stage One by issuing 1,470,000 common shares, paying €150,000 and depositing €200,000 into an account dedicated for first year exploration expenditures.

As a Stage Two earn-in, Avrupa can acquire the remaining 51% of AFOy by issuing a further 1,530,000 common shares and depositing an additional €200,000 into the dedicated account for further exploration expenditures. Avrupa will also pay out the remaining advances of approximately €15,000 to AFOy’s parent company at this stage.

A Technical Committee comprised of one representative from each party will oversee the work programs of each project. AFOy’s majority shareholder will have the deciding vote during the initial earn-in period.

The Letter Agreement will be superseded by a Definitive Agreement which is expected to be completed in January 2022. Avrupa paid €10,000 upon signing of the Letter Agreement.

Avrupa will engage a qualified professional geologist to complete a NI 43-101 compliant report on the projects as part of its due diligence process. The Company expects to complete the report during the Stage One exploration program as part of a rigorous review of data and drill core from historic operations covering the project areas.

Projects


Click Image To View Full Size

Figure 1. General location of AFOy project areas in Central Finland.


Click Image To View Full Size

Figure 2. Location of the Vihanti-Pyhäsalmi VMS District reservations.

The Pielavesi Reservation

Historic exploration within the Pielavesi Reservation area by the Geological Survey of Finland (GTK) and Outokumpu shows that the Paloniemi-Säviä-Leväniemi Belt offers promising exploration potential. The Pielavesi reservation covers approximately 213 km2 and has widespread hydrothermal alteration of felsic volcanics which can be traced over 10 kilometers. Previous operators identified the presence of at least four individual centers of mineralization, including one with clear evidence of a stockwork feeder zone accompanied by massive sulfide deposition containing copper, zinc, and gold. Despite many years of previous exploration and a large number of holes drilled, known centers of mineralization have not been drilled off and remain open at depth and along strike in both directions. No systematic exploration of the area has been completed in over 30 years.


Click Image To View Full Size

Figure 3. Geology and known mineralization in Pielavesi Reservation

Previous operators completed two historic, non NI 43-101 compliant, resource estimates at the Säviä prospect within the limits of the Pielavesi Property. The initial review, reported in 1968, and based on 62 drill holes at 50-meter spacings, estimated a copper-rich deposit of 4 million tonnes grading 1.1% copper and a zinc-rich deposit of 1 million tonnes grading 2% zinc. And, in fact, a number of nearby mineralized holes were not included in the resource estimate, one of which assayed 0.98% copper over 70.5 meters.

In 1986, Outokumpu estimated a resource at Säviä of 1.8 tonnes grading 1.52% copper.

Note that both resource estimates are historic in nature, pre-dating NI 43-101, and the Company is not treating them as current resources. A Qualified Person, as such term is defined in NI 43-101, has not completed sufficient work to confirm the estimates as current mineral resources under NI 43-101, and therefore they cannot be considered reliable and are presented here merely to show the potential of the projects. Further efforts to confirm the presence of potential mineral resources are planned for the initial exploration period and will commence once the Definitive Agreement is completed.



The Kolima Property

The 187 km2 Kolima reservation covers a target zone comprised of a thick layer of mineralized distal-type volcanics containing thin beds and layers of zinc-rich massive sulfide mineralization in some areas. The Geological Survey of Finland (GTK) discovered and explored the area in the period from 1956 to 1983. The GTK found zinc mineralization in an area two kilometers long and 200 to 400 meters wide within strongly altered metasediments and fine-grained volcanic rocks. GTK drilled 70 holes and detected widespread, polymetallic sulfide mineralization occurring as fine disseminations and thin layers of semi-massive sulfides. Generally, it seems that the currently-known mineralization represents distal-style metals’ deposition within a larger VMS system that has not yet been discovered. Numerous mineralized boulders containing anomalous gold and copper are present around the site.

AFOy completed a helicopter-supported SkyTEM geophysical survey over the mineralized area of the reservation. Preliminary analysis of the data by AFOy did not suggest any obvious targeting. However, recently-completed detailed review of the data by AFOy and AVU outlined subtle anomalism over southern extension of the known volcanics-hosted mineral trend and also outlined a deeper (175 meters), strong geophysical target in a trend of the volcanic rocks parallel to those that host the known zinc mineralization. There is no reported previous exploration along this second trend, located a few kilometers west of the known zinc showings.

The final date for application for license parcels in the Kolima reservation comes near the end of January 2022. AFOy and AVU will work during the coming weeks to make appropriate applications for licenses through the licensing process. Further updates on the progress will be forthcoming.


Click Image To View Full Size

Figure 4. Northern areas of the Kolima exploration reservation. Detailed review of the SkyTEM data shows two important target zones within the reservation area.

The Kangasjärvi Property

The 203 km2 reservation covers the Kangasjärvi deposit, a satellite deposit of the Pyhäsalmi mine, located about 25 kilometers to the north of the site. The massive sulfide was exposed at the surface, and Outokumpu mined 1-9% zinc material from the Kangasjärvi open pit in 1984-85 down to <100 meters from the surface. Exploration drilling by Outokumpu intersected massive sulfides down to 250 meters depth beneath the pit, but did not attempt deeper drilling, leaving the deposit open at depth, as well as along strike.

In 1983, GTK estimated a small historic, non NI 43-101 compliant, resource in two separate lenses: 1) 393,000 tonnes of 5.3% zinc, and 2) 159,960 tonnes of 6.0% zinc. Later Outokumpu reported an estimated mineral resource of approximately 300,000 tonnes of 5.4% zinc. Records in 1987 indicate that Outokumpu mined about 86,000 tonnes of 5.12% zinc. There is also reported anomalous copper, silver, and gold in the deposits.

Note again that both resource estimates are historic in nature, pre-dating NI 43-101, and the Company is not treating them as current resources. A Qualified Person, as such term is defined in NI 43-101, has not completed sufficient work to confirm the estimates as current mineral resources under NI 43-101, and therefore they cannot be considered reliable and are presented here merely to show the potential of the projects. Further efforts to confirm the presence of potential mineral resources are planned for the initial exploration period and will commence once the Definitive Agreement is completed.

In addition to the Kangasjärvi deposit, there are at least three other mineral occurrences within the reservation area. Little work of any sort has been completed anywhere on the reservation for at least 20 years, even though there are historic drill holes throughout the district.


Click Image To View Full Size

Figure 5. Location of known mineral targets and deposits within the Kangasjärvi reservation area.

AFOy also completed helicopter-supported SkyTEM geophysical work over known significant areas within the Pielavesi and Kangasjärvi reservations. AFOy and AVU continue to review the results from these surveys. Further information will be disseminated as we obtain a better understanding of the initial targeting data.

The Yli-li Gold Property

The 332 km2 Yli-li gold reservation covers 30 kilometers strike length of the southern extension of the Oijärvi greenstone belt and major shear zone. Currently Gold Line Resources Ltd. operates the Oijärvi gold project where they plan to drill over 4,000 meters in a step-out drilling program to expand the known zones of gold mineralization and delineate new targets in the vicinity of the mineralization. In 2013, Agnico Eagle reported an inferred mineral resource estimate at Kylmäkangas of 1.9 MT at 4 g/t Au and 31 g/t Ag, containing approximately 250,000 ounces of gold and 1.9 million ounces of silver.

Note again that this resource estimate is historic in nature and was reported by a third party. The Company is not treating the estimate as a current resource. A Qualified Person, as such term is defined in NI 43-101 and related to Avrupa Minerals Ltd., has not completed sufficient work to confirm the estimates as current mineral resources under NI 43-101, and therefore they cannot be considered reliable from the Company standpoint. The Company cannot confirm the estimates under any circumstances and merely uses the information to suggest potential exploration possibilities on the Yli-li property.


Click Image To View Full Size

Figure 6. Location of Yli-li reservation. Note proximity to Kylmäkangas gold deposit.

GTK first explored the southern extension of the Oijärvi shear zone, covered by the reservation, from 2001 to 2014. Initial studies turned up gold-in-till anomalies over intensely sheared and altered rocks. Limited drilling resulted in one intercept of 3 g/t gold over two meters at the Kupsusselkä prospect. Given these promising early-stage results, there is clearly need for wider-scale systematic exploration program to determine the best targets within the area.

Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one 100%-owned license in Portugal, the Alvalade VMS Project, now optioned to MATSA in an earn-in joint venture agreement. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal and Kosovo. The Company continues to seek and develop other opportunities around Europe.

For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com.

On behalf of the Board,

“Paul W. Kuhn”

Paul W. Kuhn, President & Director

This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation of the scientific and technical content in the news release.

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 Statement Regarding “Forward-Looking” Statements:

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the definitive agreement and the Company’s proposed exploration programs described herein, and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the inability to obtain the necessary resources to complete the exploration programs and poor exploration results.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals.

Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162400)12/22/2021 1:23:46 PM
From: LoneClone
   of 166802
 
Bearing Lithium: Updated Maricunga Feasibility Study

thenewswire.com

December 20, 2021 – TheNewswire - Vancouver, British Columbia - Bearing Lithium Corp. (“Bearing” or the “Company”) (TSXV:BRZ) (OTC:BLILF) announces that the release of the updated Definitive Feasibility Study (DFS) for the Maricunga Project Stage One development previously announced for mid-December 2021 has been moved to mid-January 2022.

The dynamics and positive performance of the lithium market during the last 12 months have had a positive impact on expected market conditions. Wood Mackenzie (previously Roskill), MSB’s market advisor, has recommended updating the market chapter in the DFS to correctly reflect new perspectives that have emerged during the last six months. The report is now undergoing an internal approval process within Worley Parsons (DFS Author), for its signature, before it can be released. When coupled with the Christmas/New Year break and the requirement for a NI 43-101 sign-off, the release of the updated DFS should be no later than the end of January 2022.

Minera Salar Blanco (“MSB”) of the Maricunga Project CEO Cristobal Garcia - Huidobro commented:

“We understand that the market expected the DFS to be released in mid-December 2021. However, the impact of new perspectives for the lithium market, and the effect they have on the supply/demand balance included on the financial model, led us to delay the release of the report. Notwithstanding this minor delay, we expect that the market will be satisfied with its technical quality and the project economics.”

About Bearing Lithium Corp.

Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.14% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 67 million has been invested in the Maricunga Project to date.

ON BEHALF OF THE BOARD

Signed "Gil Playford”
Gil Playford, Chairman
gplayford@bearinglithium.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.

Cautionary Statements Regarding Forward Looking Information

This press release includes certain "forward-looking information” and "forward-looking statements” (collectively "forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.

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”, or "should” occur or be achieved. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.


Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162401)12/22/2021 1:25:13 PM
From: LoneClone
   of 166802
 
Westward Gold Announces Expansion of Nevada Land Package

thenewswire.com

Vancouver, British Columbia – TheNewswire - December 21, 2021 – Westward Gold Inc. (CSE:WG) (CNSX:WG.CN) (FSE:IM50) (“Westward” or the “Company”) is pleased to announce that it has expanded its fully-contiguous land package in Nevada, through the staking of an additional 101 unpatented mining claims (the “New Claims”). The New Claims are adjacent to, and immediate south of, the Company’s Toiyabe Gold Project and Turquoise Canyon Project (“Toiyabe” and “Turquoise Canyon”, respectively). The combined landholdings of Westward along the Battle Mountain – Eureka Trend now total approximately 3,830 hectares, representing an increase of ~27%.

The New Claims are divided into two separate blocks: (i) 83 claims to be added to Toiyabe (the “Toiyabe Expansion”), and (ii) the remaining 18 claims to form their own claim block (the “Westward Claims”). Further information related to the separation of the two blocks is detailed in the section below titled “Toiyabe Option Amendment”.

Figure 1: Westward’s New Consolidated Nevada Properties


Click Image To View Full Size

The property package is located in one of the most prolific gold mining districts in the state, and sits a short distance away from major deposits and operating mines, including Pipeline, Cortez Hills, and Goldrush. With the addition of the New Claims, the Company also now borders the past-producing Toiyabe-Saddle Mine (controlled by Barrick Gold) to the east and north. In the immediate area, Westward is now a significant landholder, as seen in Figure 2 below.

Land Expansion: Strategic Rationale

The addition of the New Claims was identified as a strategic priority by the Company’s Technical Advisory Committee, and was based on:

  • Takeaways from the ongoing review of new and historical technical information related to the nature of the mineralizing structures and geological features in the area

  • Recommendations following a multi-day site visit conducted in October of 2021 by Dave Browning (VP Exploration), David Kelley (Board Member), Steven Koehler (Technical Advisor), and Richard Bedell (Technical Advisor)

  • Active monitoring of land status / claim availability in the vicinity of Toiyabe and Turquoise Canyon

The area of expansion includes lower plate carbonate rocks, thrust faults and high-angle normal faults that are present at Toiyabe, and in the adjacent Toiyabe – Saddle Mine open pits (see Figure 3 below). The carbonate rocks are known gold hosts at Toiyabe (with its 173koz historical gold resource(1)) in addition to major deposits in the area such as Pipeline and Cortez Hills(2).

Figure 2: Neighbouring Properties


Click Image To View Full Size

Figure 3: New Claims – Lithology and Structures


Click Image To View Full Size

Dave Browning, Westward’s VP of Exploration, noted: “The thrust fault and exposed limestones present on this new ground are compelling; we’re in the same structural and lithological environment responsible for mineralization at adjacent deposits, and this adds further prospectivity to our target-rich land package.”

Colin Moore, Westward President, added: “We’re thrilled to have been able to consolidate additional strategic ground around our existing properties in a cost-effective manner, and I applaud our technical team for identifying and executing on this opportunity.”

(1) Source: NI 43-101 Technical Report, American Consolidated Minerals Corporation, Prepared by Paul D. Noland, P. Geo., May 27, 2009 (the “2009 Technical Report”). A qualified person has not done sufficient work to classify the historical estimate at Toiyabe (the “Historical Estimate”) as current mineral resources and Westward is not treating the Historical Estimate on Toiyabe as a current mineral resource, as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The Historical Estimate was calculated using mining industry standard practices for estimating Mineral Resource and Mineral Reserves (2005) which was prior to the implementation of the current CIM standards for mineral resource estimation (as defined by the CIM Definition Standard on Mineral Resources and Ore Reserves dated May 10, 2014). The key assumptions, parameters and methods used to prepare the Historical Estimate on Toiyabe are described in the 2009 Technical Report. While Westward considers the Historical Estimate on Toiyabe disclosed in this news release to be relevant to investors, it cautions readers that it should not be unduly relied upon in drawing inferences on the mineralization on Toiyabe, as additional work is required to upgrade or verify the Historical Estimate as a current mineral resource. This additional work includes (but may not be limited to): re-sampling and re-assaying of available core and/or pulps, verification of assay certificates and digital assay data, verification of select drill hole collars, review and verification of drill hole geologic logs versus the preserved core and RC cuttings, incorporation of AuCN assays to provide a general understanding of metallurgical characteristics, review and verification of mineralization controls and modelling techniques.

(2) Source: NI 43-101 Technical Report on the Cortez Joint Venture Operations, Lander and Eureka Counties, State of Nevada U.S.A, Barrick Gold Corporation, Prepared by Hugo Miranda, Kathleen Ann Altman, Phillip Geusebroek, Wayne W. Valliant, and R. Dennis Bergen, March 22, 2019.

Toiyabe Option Amendment

Pursuant to the original Toiyabe option agreement dated January 23, 2005, under which Westward may acquire its interest in Toiyabe (the “Toiyabe Option Agreement”) from Minquest Ltd. (“Minquest”), the project is subject to a 2-mile area of interest clause (the “AOI”). Claims staked by Westward, as optionee, within the AOI, prior to earning into a 100% ownership interest in Toiyabe, become subject to the terms of the Toiyabe Option Agreement.

The Toiyabe Expansion falls within the AOI, and the claims will be added to Toiyabe in accordance with the terms of the Toiyabe Option Agreement. Minquest management has been apprised of the claims comprising the Toiyabe Expansion and has concurred with the assessment of the total claims falling within the AOI. The Toiyabe Expansion claims are expected to be registered under Minquest ownership with the U.S. Bureau of Land Management, whereas the Westward Claims (18 total) will be 100% owned by Westward and registered under Turquoise Canyon Corp., a wholly-owned U.S. subsidiary of the Company.

Remaining obligations under the Toiyabe Option Agreement include (i) a cash payment of US$140,000 on or before October 15, 2022, and (ii) a cash payment of US$400,000 on or before October 15, 2023. All claims covered by the Toiyabe Option (including the claims comprising the Toiyabe Expansion) will be subject to a 3% Net Smelter Return Royalty, half of which (1.5%) can be bought back by the Company for US$2,000,000 per 1.0%.

Qualified Person

The technical information contained in this news release was reviewed and approved by Steven R. Koehler, Technical Advisor to the Company, who is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Westward Gold

Westward Gold is a mineral exploration company focused on developing the Toiyabe and Turquoise Canyon Projects located in the Cortez Hills area of Lander County, Nevada. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.

For further information contact:

Raymond D. Harari
Chief Executive Officer
Westward Gold Inc.
rdh@canaliscapital.com
Tel: +507-6675-2221

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons, availability of equipment (including drills) and personnel to carry out work programs, that each stage of work will be completed within expected time frames, that current geological models and interpretations prove correct, the results of ongoing work programs may lead to a change of exploration priorities, and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. These and other factors may cause the Company to change its exploration and work programs, not proceed with work programs, or change the timing or order of planned work programs. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.


Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162402)12/22/2021 1:26:34 PM
From: LoneClone
   of 166802
 
Golden Ridge Resources Discovers High-Grade Visible Gold in Float at The Williams Gold Property, Surrounded by New Found Gold Corp's Queensway South Gold Project

thenewswire.com

Kelowna, British Columbia - TheNewswire – December 21, 2021 - Golden Ridge Resources Ltd. (“Golden Ridge” or “the Company”) (TSXV:GLDN) is pleased to report that it has discovered high-grade (281g/t) Au float at the Williams Gold Property (“Williams” or “The Property”), that is surrounded by New Found Gold Corp (NFGC)’s Queensway South Gold Property in the Central Newfoundland Gold Belt of the province of Newfoundland and Labrador (Figure 1).1 The sample was taken during prospecting of the underexplored western portion of the property.

High Grade 281g/t Au Discovered in the Dominion Zone

Prospecting during 2021 discovered high-grade Au float in the Dominion Zone, in the southwest of the property (Figure 2). The assay of 281g/t (9 oz/t) Au is one of the highest reported for an individual grab sample in the Queensway South area. Exploration in 2021 continues to highlight the potential for high-grade gold zones within the Williams Property. Golden Ridge will continue to explore the underexplored Dominion Zone when assays become available.

Awaiting Assays from the 2021 Field Exploration Program

During the 2021 field exploration season Golden Ridge took 200 grab rock samples and 255 channel samples from outcrop and trenches, as well as 1,316 soil samples. Due to the current high level of exploration activity in Newfoundland, and consequent demand for analytical services, the Company is still awaiting the full suite of assays, which should be received in time to plan the next phase of exploration in early 2022.

The 2021 field exploration covered the majority of the underexplored Williams Gold Property. Golden Ridge identified numerous hydrothermal zones spanning across the property, primarily concentrated within the Dog Bay and Appleton Fault Corridors (Figure 3,4). Soil Sampling was conducted on a high-density (25 x 25m) grid in order to follow up anomalies identified in the 2020 100 x 100m regional soil sampling grid (see News Release of October 26, 2020). Based on results of the 2021 trenching program, Golden Ridge strongly believes the high-density soil sampling grid will be an effective geochemical targeting tool for future exploration.

Mike Blady, Director, CEO & President of Golden Ridge stated “The high-grade float sample taken at the Dominion Zone shows the potential for high-grade gold within the Williams Property and throughout the South Queensway Area. We are continuing to uncover and define the potential for high-grade gold mineralization across the Williams Gold Property, where very limited historical work has been done. Using the trenching, and geochemical soil-sampling data, from 2021 we will continue to vector towards the high-grade sections of the Dog Bay and Appleton Fault Corridor. Upon receipt of assays, we will be able to effectively and quickly follow up these targets early in 2022.”

1This news release contains information about adjacent properties on which Golden Ridge has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties


Click Image To View Full Size


Click Image To View Full Size


Click Image To View Full Size


Click Image To View Full Size

Qualified Person:

Dr. Stephen Amor, PhD, PGeo, technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.

Acknowledgments:

Golden Ridge Resources acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy, and Technology, Government of Newfoundland and Labrador.

About Golden Ridge Resources:

Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in Newfoundland and British Columbia. Golden Ridge is currently focused on exploration and development of its portfolio of exploration assets in Newfoundland. The Company owns a 100% interest in the 1,700-hectare Hank copper-gold-silver-lead-zinc property and the 3,000-hectare Hickman copper-gold property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia and has a portfolio of exploration projects in Newfoundland.

Golden Ridge Resources Ltd.

Mike Blady

Chief Executive Officer

Tel: (250) 717-3151

Website: www.goldenridgeresources.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company's financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company's Management’s Discussion and Analysis reports filed under the Company's profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162403)12/22/2021 1:27:44 PM
From: LoneClone
   of 166802
 
Noble Closes Nickel Property Sale and Receives 3.5 Million Shares of Canada Nickel

thenewswire.com

Toronto, Ontario - TheNewswire - December 20, 2021 - Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased to announce that it has closed the transaction with Canada Nickel Company Inc. (“Canada Nickel”) to vend the properties previously optioned to the Canada Nickel (the "Transaction"), plus additional properties held by Noble. Under the terms of the Transaction, the previous option and joint venture agreements therefore terminated. In the Transaction, Noble sold 100% of the subject properties in return for 3.5 million common shares of Canada Nickel. Noble intends to distribute those shares to its shareholders as a dividend based on a record date to be established post closing, after the 4 month hold period on those shares has expired. Noble has retained a 2% royalty on certain of the mining claims that are included in the properties being transferred.

Vance White, President and CEO of Noble said, “This acquisition effectively consolidates all of the key nickel targets within Noble’s Project 81 land package with Canada Nickel led by Mark Selby and his team well recognized to be experts in the Nickel industry. It will allow Noble to focus on the multiple gold/VMS targets in its remaining substantial land package. The dividend of 3.5 million shares to Noble’s shareholders (valuation ~$12.25mm) will provide them with a direct interest in not only the option properties, but also the Main Crawford Nickel deposit on which we expect to see additional drill hole results and a Feasibility Study in 2022. Noble will retain a 2% NSR (subject to buyback terms) on each of the staked mining claims in each of Mahaffy, MacDiarmid and Bradburn Townships from which we expect to see drilling results in early 2022. Further, this transaction will eliminate the need for Noble carry out any downstream financing in order to maintain a Joint Venture interest in the prospects.”

Transaction Summary: Under the terms of the Transaction Canada Nickel has issued 3.5 million of its common shares to Noble in return for:

  • A 100% interest in the previously optioned properties (see press releases dated July 13, 2020, April 9, 2021 and April 22, 2021) plus additional claims, including the prospective Bradburn/Dargavel property.

  • Noble will retain a 2% net smelter royalty on the claims in Bradburn, Mahaffy and MacDiarmid townships, subject to the right of Canada Nickel to re-purchase 1% (half) of the 2% royalty held by Noble for a re-purchase price of $1.5 million per property if re-purchased during the one-year period after closing, increasing to $2.5 million per property if re-purchased during the second year after closing, and increasing to $5 million per property if re-purchased more than 2 years after closing.

The transaction has received conditional approval of the TSX Venture Exchange and is now subject only to final approval.

About Noble Mineral Exploration Inc.:

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold approximately 40,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81 as well as an additional ~11,000 hectares in the Timmins area. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its recently acquired Nagagami Carbonatite Complex near Hearst Ontario as well as the Buckingham Graphite Property, the Laverlochere Nickel, Copper, PGM property and the Cere-Villebon Nickel, Copper PGM property all of which are in the province of Quebec. More detailed information is available on the website at www.noblemineralexploration.com

Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB

Cautionary Statement:

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks, and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

H. Vance White, President

Phone: 416-214-2250

Fax : 416-367-1954

Email : info@noblemineralexploration.com

Investor Relations

Email : ir@noblemineralexploration.com


Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162404)12/22/2021 1:31:02 PM
From: LoneClone
   of 166802
 
Queensland Gold Hills Acquires an Additional 15% of Big Hill Gold Mining Company

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - December 20, 2021) - Queensland Gold Hills Corp. (TSXV: OZAU) ("Queensland Gold Hills Corp" or the "Company") is pleased to announce that it now holds a 95% interest in Big Hill Gold Mining Company Pty Ltd ("Big Hill").

Big Hill holds a 100% interest in an exploration permit and two mining licenses that comprise the Big Hill Gold Project located in Queensland, Australia (the "Big Hill Gold Project").

"This is another milestone for the Company as we progress through the property acquisition agreement towards 100% ownership. This is an exciting district to be exploring in and we look forward to providing further updates as we start getting boots on the ground," stated Blair Way, the CEO of the Company.

Pursuant to a Share Sale Agreement entered into by the Company and Mining Projects Accelerator Pty Ltd. CAN 629 011 196 ("MPX") on September 3, 2021, the Company acquired MPX's ownership of 80% of the outstanding common shares of Big Hill. As a shareholder of Big Hill, the Company has the right to acquire the remaining 20% of the outstanding Big Hill common shares from the minority shareholder by paying the minority shareholder AU$300,000 for 15% and AU$700,000 for the remaining 5% of the shares of Big Hill.

A National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report on the Big Hill Gold Project titled "Technical Report on the Big Hill Au Project, SE Queensland, Australia" prepared by H&S Consultants Pty Ltd. with an effective date of November 2, 2021 has been filed on SEDAR and is available on the Company's website.

About Queensland Gold Hills Corp.

Queensland Gold Hills is focused on gold exploration in the historic goldfields of Queensland, Australia. The Big Hill Gold Project covers the historic mines of Big Hill, Queenslander, Monte Cristo and Sultan & Taylor of the Talgai Goldfields. This is one of eight historical Goldfields in the broader Warwick-Texas District. The Company will be conducting modern exploration in these historic gold fields.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Blair Way, Chief Executive Officer & Director
Telephone: 1 (800) 482-7560
E-mail: info@queenslandgoldhills.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Property or the future exploration endeavors of Queensland Gold Hills. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, but are not limited to, the risk that the Proposed Transaction, the Offering and resulting name change may not be completed as set out herein or at all, and the inability of the Company to execute and raise funds necessary to complete its planned future activities and proposed business plans.

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.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162405)12/22/2021 1:32:27 PM
From: LoneClone
   of 166802
 
ACME Lithium Files Notice of Intent to Drill Lithium Brine Project at Clayton Valley Nevada

newsfilecorp.com

Carson City, Nevada--(Newsfile Corp. - December 20, 2021) - ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") is pleased to announce that it has filed permitting documentation with the Bureau of Land Management (BLM) for ACME's Clayton Valley lithium brine project in Esmeralda County, Nevada. The Notice of Intent (NOI) covers a three-hole drill program up to a depth of 500 meters and focuses on the most prospective lithium brine targets as defined by recent geophysical work.

ACME's project is contiguous to Albemarle's Silver Peak lithium resource and production facility. ACME's lithium source material and transport mechanisms could be similar to those that have supplied other Clayton Valley lithium-bearing brines.

ACME's current and ongoing program at Clayton Valley is operated by GeoXplor Corp., one of the industry's early leaders in lithium exploration and development in Nevada and their long standing team of technical contractors. Upon approval and receipt of permits, ACME is targeting to drill its Clayton Valley Lithium project in late Q1 2022 and will provide further updates as new information comes available.

On November 10th, ACME announced that it has received positive results for potential lithium-brine from Hasbrouck Geophysics after the Company completed its Phase 2 Hybrid Source Audio-Magnetotellurics (HSAMT) survey. Based on low resistivity values, multiple areas and zones are interpreted to correlate to lithium-brine occurrences in saline rich aquifers or brine saturated pebble gravel.

ACME's project location adjacent to or nearby lithium brine projects does not guarantee exploration success or that mineral resources or reserves will be defined on ACME's properties. Exploration, development and activities conducted by regional companies provide assistance and additional data for exploration work being completed by ACME.

William Feyerabend, Certified Professional Geologist is a qualified person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release.

About ACME Lithium Inc.

Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and in southeastern Manitoba.

On behalf of the Board of Directors

Steve Hanson
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
info@acmelithium.com

Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release.

This news release may contain forward-looking information within the meaning of applicable securities laws ("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 and in this news release include but are not limited to the exercise of the Option, the undertaking of any expenditures on the Project Claims, including drilling thereof. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made 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.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162406)12/22/2021 1:33:25 PM
From: LoneClone
   of 166802
 
Minnesota activates PolyMet Air Permit

newsfilecorp.com

St. Paul, Minnesota--(Newsfile Corp. - December 20, 2021) - The Minnesota Pollution Control Agency today issued supplemental findings supporting its conclusions for the air permit for the NorthMet Project, satisfying a Court of Appeals order regarding a key permit required for the company to build and operate the first copper-nickel-precious metals mine in northeast Minnesota, according to Poly Met Mining, Inc., a wholly owned subsidiary of PolyMet Mining Corp. (TSX: POM) (NYSE American: PLM) (together "PolyMet" or the "company").

This concludes a process three years to the day after the MPCA issued PolyMet its air permit. Since then, PolyMet has overcome multiple legal challenges to the permit, including prevailing in the Minnesota Supreme Court.

"As we have steadfastly maintained, the facts and science prove the project will meet air quality standards. That has never been in doubt," said Jon Cherry, chairman, president and CEO. "This important permit moves us one big step closer to constructing NorthMet, a project that will provide numerous economic benefits to northeast Minnesota along with a U.S.-based supply of metals crucial for the transition to a greener economy," he said.

"Of 22 lawsuits challenging the project only four cases remain and those are planned to be heard during 2022," Cherry said. "All cases that have reached final conclusion have been in PolyMet's favor."

The NorthMet mine will feed the mineral supply chain to meet the growing global demand for copper, nickel, cobalt and other metals needed for the U.S. and global transition to clean energy technologies such as solar and wind farms, battery storage and electric mobility, Cherry said. Most of the known resources of nickel and cobalt in the U.S. are found in Minnesota according to the U.S. Geological Survey.

* * * * *

About PolyMet

PolyMet is a mine development company that owns 100% of the NorthMet Project, the first large-scale project to have received permits within the Duluth Complex in northeastern Minnesota, one of the world's major, undeveloped mining regions. NorthMet has significant proven and probable reserves of copper, nickel and palladium - metals vital to infrastructure improvements and global carbon reduction efforts - in addition to marketable reserves of cobalt, platinum and gold. When operational, NorthMet will become one of the leading producers of nickel, palladium and cobalt in the U.S., providing a much needed, responsibly mined source of these critical and essential metals.

Located in the Mesabi Iron Range, the project will provide economic diversity while leveraging the region's established supplier network and skilled workforce and generate a level of activity that will have a significant effect in the local economy. For more information: www.polymetmining.com.

For further information, please contact:

Media
Bruce Richardson, Corporate Communications
Tel: +1 (651) 389-4111
brichardson@polymetmining.com


Investor Relations
Tony Gikas, Investor Relations
Tel: +1 (651) 389-4110
investorrelations@polymetmining.com


PolyMet Disclosures

This news release contains certain forward-looking statements concerning anticipated developments in PolyMet's operations in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events, conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding the ability to receive environmental and operating permits, job creation, and the effect on the local economy, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.

PolyMet's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations and opinions should change.

Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMet's most recent Annual Report on Form 40-F for the fiscal year ended December 31, 2020, and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission.

The Annual Report on Form 40-F also contains the company's mineral resource and other data as required under National Instrument 43-101.

No regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: LoneClone who wrote (162407)12/22/2021 1:53:26 PM
From: LoneClone
   of 166802
 
Base Metals Demand Growth Supports Global Mining Sector Outlook

fitchratings.com

Mon 13 Dec, 2021 - 1:48 PM ET

Related Fitch Ratings Content: Fitch Ratings 2022 Outlook: Global Mining

Fitch Ratings-London-13 December 2021: Incrementally stronger prospects for base metals and still-high iron ore, coal and gold prices will be supportive of the global mining sector's performance in 2022, Fitch Ratings says. Fitch's neutral sector outlook balances prevailing economic growth expectations with risks from potential negative market sentiment, particularly due to liquidity concerns related to the Chinese property sector, which could affect commodity prices.

Supply-chain constraints and pandemic-related measures will remain themes in 2022 but have less of an impact as economic growth eases across major economies towards longer-term, sustainable levels and as countries gradually reduce restrictions.

We expect copper inventories to remain historically low and transportation issues to persist in 2022, meaning that copper prices will be high but volatile. Energy-transition trends will support long-term copper demand (CRU forecasts the "green" share of copper demand will rise to 20% in 2035 from 5% in 2021).

We anticipate aluminium production curtailments caused by power shortages in China to extend into 2022. Furthermore, uncertain power availability discourages new investment in aluminium production capacity in China, leading to lower longer-term production and a very tight market balance; CRU forecasts global inventories to fall further towards 40 days.

Australia and Brazil should deliver incremental iron ore volumes in the coming years and we expect the market to become more balanced, with a clearly smaller deficit in 2022, moving into surplus by 2024-2025. Iron ore prices should show less volatility and trade closer to supply-demand fundamentals as value chains adjust and bottlenecks are resolved.

The thermal coal market's supply-demand balance is likely to be restored in 2022. We expect coal prices to normalise in 2022 as the market becomes more rational with looser supply constraints and replenished inventories.

Our report, "Fitch Ratings 2022 Outlook: Global Mining", is available at www.fitchratings.com or by clicking on the link above.

Contact:

Oliver Schuh
Senior Director, Corporates
+44 20 3530 1263
Fitch Ratings Limited
30 North Colonnade
London
E14 5GN

Tatiana Kordyukova
Senior Director, Fitch Wire
+44 20 3530 1954

Share RecommendKeepReplyMark as Last ReadRead Replies (1)
Previous 10 Next 10