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   Gold/Mining/EnergyMining News of Note


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To: LoneClone who wrote (162603)1/6/2022 11:01:30 AM
From: LoneClone
   of 169762
 
Kodiak Copper - Annual Investor Letter Vancouver,

newsfilecorp.com

British Columbia--(Newsfile Corp. - January 5, 2022) - Kodiak Copper Corp. (TSXV: KDK) (OTCQB: KDKCF) (FSE: 5DD1).

Dear Fellow Investor:

2021 was another momentous year for Kodiak Copper. We executed the largest drill program in the history of our 100% owned MPD copper gold porphyry project in Southern British Columbia and built upon our discovery success at every step of the way. The program produced many impressive results and greatly increased the drill-confirmed size of our Gate Zone discovery. With our treasury full, we are looking forward to an eventful and news-rich 2022 with another substantial exploration program to further unlock the district-scale potential for a large, multi-centered porphyry system at MPD.

Before reviewing of Kodiak's 2021 progress further, I would like to take the opportunity to acknowledge the weather-related challenges to the communities we work in. Drought and forest fires in the summer, followed by historic flooding in the fall were unprecedented and had a tremendous impact on many people in British Columbia. Our thoughts are with all those affected by these events and special thanks to the first responders and emergency support services who have worked hard to help others.

I would also like to recognize how Kodiak's technical team responded to these events with professionalism and speed, ensuring the safety of our employees and contractors. Even with these extraordinary weather challenges, the team successfully completed 21,675 metres of drilling in 36 holes, a prospecting and trenching program including 1,755 soil samples and 176 rock samples, as well as IP surveying, geological and geotechnical studies and environmental surveying, all within the allocated budget. A big shout-out to Kodiak's VP Exploration Jeff Ward and VP Operations Andrew Berry who led the work on the ground.

At the start of 2021, Kodiak was fresh off the high-grade Gate Zone discovery at MPD from the previous fall. To accommodate a large follow-up exploration program, the Company established a field office and core facility in Merritt, benefitting from the ease of access and excellent infrastructure of being located in an established mining and resource area. Drilling began in March and a second drill rig was added in June. The 2021 drill program was primarily focused on extending the Gate Zone discovery by systematically evaluating the associated copper-in-soil anomaly of approximately one kilometer in length. Drilling consistently delivered substantial high-grade intercepts within wide envelopes of lower grade mineralization, and over the year we increased the strike length of the Gate Zone by almost eight times. Mineralization has been intersected to date over 950 metres in length, down to a depth of 850 metres and across a width of 350 metres, dimensions typical of other large, multi-centre copper porphyry deposits in British Columbia. The Gate Zone remains open in multiple directions and we are excited to drill it further in 2022.



Gate Zone Plan Map Comparing 2020 to 2021 Drilling

To view an enhanced version of this graphic, please visit:
orders.newsfilecorp.com

It is important to remember that the Gate Zone is only the first step to unlock the value of our district-scale MPD project. There are several further interpreted porphyry centres on the property with similar copper-in-soil anomalies over large areas, geophysical responses and drill-proven copper and gold near surface from shallow historic exploration. We made our Gate Zone high-grade discovery by testing below the shallow historically-drilled mineralization, which validated the exploration model devised by our exploration team led by Kodiak's Chairman and founder, Chris Taylor. We will now replicate this successful approach at other high-priority target areas. Drilling at the Dillard target area, two kilometres from the Gate Zone, has already commenced in October and will continue this year. The three kilometre long regional magnetic anomaly between the Gate and Man Zones will also be tested. Other target areas, including the newly acquired Axe claims which are contiguous and south of the MPD project area add further discovery potential. 2022 will see a large drill program of approximately 25,000 metres at multiple targets, with results throughout the year and the possibility for another game-changing discovery.



3D Model of Copper in Historic Drilling at Dillard & Man, and Historic plus Kodiak Drilling at Gate

To view an enhanced version of this graphic, please visit:
orders.newsfilecorp.com

Kodiak strives to employ best practices in both cultural and environmental stewardship in all our exploration work. We implemented a phased environmental work plan at MPD that includes water quality, hydrology and fish habitat studies, observation of birds, species at risk and incidental wildlife, and air quality, climate and meteorology recordings. Kodiak also continues to build relationships with neighbouring Indigenous peoples whose traditional territory includes the MPD claims, and we are grateful for the collaboration and support we are afforded. Our work at MPD is already generating multiple employment and business opportunities to First Nations and local communities, and as the project continues to grow, so will benefits to the local economy.

We further strengthened our management team in 2021 with two notable appointments: Nancy Curry as VP Corporate Development and Harpreet Bajat as Corporate Secretary. ??Both are experienced professionals who are already making significant contributions. I would also like to extend a warm welcome to Lana Eagle, a well-recognized Indigenous relations strategist, speaker and consultant who joined Kodiak's Board of Directors in October.

2021 also brought significant corporate developments that will continue to increase Kodiak's visibility to the investing market place. The Company began trading on the OTCQB in March to provide increased access to a large US investor base. This was followed up in June when we received DTC eligibility to facilitate the trading and efficient electronic transfer of Kodiak's shares in the USA. Both events are milestones in our commitment to provide transparency, liquidity and ease of transaction to improve the trading experience for our shareholders.

It is no doubt an exciting time to be in the copper business. The world is undergoing an aggressive push towards electrification, and copper is an essential commodity for this energy transition. A copper price reaching all-time highs and consistently trading above $4 per pound over the last year is testament to this. 2022 is shaping up to be a potentially transformative year for Kodiak as we embark on another exciting exploration season at MPD as well as a maiden drill program at our Mohave copper porphyry project in Arizona. The chance for more discoveries, combined with our strong treasury and share structure present a compelling opportunity to create value for our shareholders. I look forward to keeping you updated on our progress, stay tuned for lots of catalysts and news to come throughout 2022!

Last but not least, I would like to extend a heartfelt thank you to Kodiak's dedicated team, our shareholders and supporters, our strategic partner Teck Resources, the Discovery Group and local First Nations who all contributed to our company's success. Let me convey my best wishes for a happy, healthy and prosperous 2022 to all of you.

Sincerely,

Claudia Tornquist, President & CEO

For further information contact:
Nancy Curry, VP Corporate Development
ncurry@kodiakcoppercorp.com
+1 (604) 646-8362

Jeff Ward, P.Geo, Vice President Exploration and the Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this release. Kodiak believes historic results referenced herein to be from reliable sources using industry standards at the time. However, the Company has not independently verified, or cannot guarantee, the accuracy of this historic information.

About Kodiak Copper Corp.

Kodiak is focused on its 100% owned copper porphyry projects in Canada and the USA. The Company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia, Canada, where the Company made a discovery of high-grade mineralization within a wide mineralized envelope in 2020. Kodiak also holds the Mohave copper-molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine. Kodiak's porphyry projects have both been historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.

Kodiak's founder and Chairman is Chris Taylor who is well-known for his gold discovery success with Great Bear Resources. Kodiak is also part of Discovery Group led by John Robins, one of the most successful mining entrepreneurs in Canada.

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.

Forward-Looking Statement (Safe Harbor Statement): This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.

Management has provided the above summary of risks and assumptions related to forward-looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

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To: LoneClone who wrote (162604)1/6/2022 1:42:57 PM
From: LoneClone
   of 169762
 
Ero Copper announces updated mineral reserves and resources for the MCSA Mining Complex and the NX Gold Mine

ca.finance.yahoo.com

Ero Copper Corp.
Thu., January 6, 2022, 4:15 a.m.·31 min read

VANCOUVER, British Columbia, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero” or the “Company”) is pleased to announce the results of its 2021 updated National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) compliant mineral reserve and resource estimates on its 99.6% owned MCSA Mining Complex located in Bahia State, Brazil and its 97.6% owned NX Gold Mine, located in Mato Grosso State, Brazil. The updated mineral reserve and mineral resource estimates incorporate drilling activities and mining depletion on the properties through September 30, 2021. For the latest mineral reserve and resource update on the Company's Boa Esperança Project please refer the 2021 Boa Esperança Technical Report (as defined below).

Highlights of the 2021 update include:

  • In total, at the same cut-off grades, a 13% increase in total proven and probable mineral reserves at the MCSA Mining Complex with a significant 56% increase in mineral reserves within the Deepening Extension Zone of the Pilar Mine that remains open for potential expansion; and,

  • A 32% increase in measured and indicated mineral resources (25% increase in proven and probable reserves) for the NX Gold Mine, at the same cut-off grades. These increases are driven by extensions of the Santo Antonio Vein and the maiden mineral reserve estimate for the Matinha Vein that remains open for potential expansion and is expected to become an integral part of the operation in the coming years.

  • Deepening Extension Zone Highlights, Pilar Mine

  • Exceptional drill results continue to demonstrate significant year-on-year increases in the grade and contained copper of the Deepening Extension Zone of the Pilar Mine since its initial discovery in 2018, further supporting the Company's decision to construct a larger 6.3 meter finished diameter external shaft (vs. 4.5 meters previously) to maximize the value of the mine;

  • Proven and probable mineral reserves within the Deepening Extension Zone increased by 56% to 194.2 kt of contained copper (11.0 Mt grading 1.76% copper) compared to 124.6 kt of contained copper (7.4 Mt grading 1.68% copper) in 2020;

  • Measured and indicated mineral resources, inclusive of mineral reserves, within the Deepening Extension Zone increased by 55% year-on-year to 217.1 kt of contained copper (10.4 Mt grading 2.08% copper) compared to 140.0 kt of contained copper (7.5 Mt grading 1.86% copper) in 2020; and,

  • Inferred mineral resources within the Deepening Extension Zone increased by 37% to 130.1 kt of contained copper (6.1 Mt grading 2.14% copper) compared to 94.8 kt of contained copper (4.5 Mt grading 2.12% copper) in 2020.

  • Deepening Extension Mineral Resource Evolution since 2018
    (contained copper in kt)



    Note: Mineral resource estimates were prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Mineral Reserves, adopted by the CIM Council on May 10, 2014 (the “CIM Standards”), and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, adopted by CIM Council on November 23, 2003 (the “CIM Guidelines”), using geostatistical and/or classical methods, plus economic and mining parameters appropriate for the deposit. Please see the 2018 Technical Report, 2019 Technical Report or 2020 Technical Report, as applicable and as defined below, for a discussion on the assumptions, parameters and methods used to estimate the mineral resources and reserves. 2021 mineral resource effective date of September 30, 2021. Presented indicated mineral resources inclusive of probable mineral reserves. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. All figures have been rounded to the relative accuracy of the estimates.

    MCSA Mining Complex Highlights, including the Deepening Extension Zone

  • Proven and probable mineral reserves increased by 13% to 607.1 kt of contained copper (59.3 Mt grading 1.02% copper) compared to 536.0 kt of contained copper (50.5 Mt grading 1.06% copper) in 2020;

  • Measured and indicated mineral resources, inclusive of mineral reserves, increased 6% to 1,221.1 kt of contained copper (104.7 Mt grading 1.17%) compared to 1,154.9 kt of contained copper (102.8 Mt grading 1.12% copper) in 2020; and,

  • Inferred mineral resources increased 21% to 473.4 kt of contained copper (43.3 Mt grading 1.09% copper) compared to 390.6 kt of contained copper (39.2 Mt grading 1.00% copper) in 2020.

  • NX Gold Mine Highlights

  • Proven and probable mineral reserves increased 25% to 306.8 koz of contained gold (1,104 kt grading 8.64 gpt gold) compared to 244.7 koz of contained gold (862 kt grading 8.83 gpt gold) in 2020;

  • Measured and indicated mineral resources, inclusive of mineral reserves, increased 32% to 357.3 koz of contained gold (1,081 kt grading 10.28 gpt gold) compared to 269.9 koz of contained gold (770 kt grading 10.90 gpt gold) in 2020;

  • Within the Santo Antonio Vein, proven and probable mineral reserves increased by 13% to 277.5 koz of contained gold (958 kt grading 9.01 gpt gold) compared to 244.7 koz of contained gold (862 kt grading 8.83 gpt gold) in 2020;

  • Within the Santo Antonio Vein, measured and indicated mineral resources, inclusive of mineral reserves, increased by 20% to 322.4 koz of contained gold (950 kt grading 10.56 gpt gold) compared to 269.2 koz of contained gold (763 kt grading 10.97 gpt gold) in 2020, driven primarily by conversion of inferred mineral resources delineated in 2020; and,

  • Within the Matinha Vein, maiden mineral reserve estimate with probable mineral reserves of 29.4 koz gold (146 kt grading 6.26 gpt gold) while inferred mineral resources increased by 79% to 104.2 koz of contained gold (310 kt grading 10.47 gpt gold) compared to 58.2 koz of contained gold (149 kt grading 12.15 gpt gold) in 2020.

  • Commenting on the results, David Strang, CEO, stated, “The meaningful growth of our asset base, as reflected in our 2021 mineral reserve and resource update continues to demonstrate our ability to deliver organic growth and generate shareholder value through exploration. Our annual results are highlighted by the significant increases in the mineral reserves and resources within the Deepening Extension Zone.

    “Over the last year, the Deepening Extension Zone continued to exceed our own lofty expectations with respect to mineral reserve and resource size and quality. The demonstrated year-on-year growth in the high-grade superpod through our ongoing drill campaigns since 2018 highlights the potential of the zone, which remains open. These results support our decision in 2021 to undertake a larger redesign of the new external shaft. The redesign does require a greater upfront investment but will, over time, enhance the project's value and provide optionality over the long-term as we continue to look to increase overall production volumes from the Pilar Mine.

    "In addition to significant growth in the Deepening Extension Zone's mineral reserves and resources, drilling throughout the year at the Vermelhos Mine and throughout the broader Curaçá Valley continued to deliver growth in overall mineral reserves and resources. These additions were more than sufficient to replace depletion during the year relative to our 2020 update, even as we increased our annual copper production rate.

    “At the NX Gold Mine, demonstrated extensions of the Santo Antonio Vein and Matinha Vein during the year both serve as further evidence of the intrinsic value and exploration potential of the broader land package surrounding the mine. In 2022, we will focus on extending mineralization within the Matinha Vein as we integrate it into our operations as an additional feed source for the mill.

    "As a core tenet of our organic growth strategy, we are pleased to see our investment in exploration continue to generate a pipeline of high-return actionable growth projects across our portfolio. Looking ahead to 2022, our in- and near-mine exploration plans for the year include expanded drilling activities in the upper levels of the Pilar Mine in support of a two-mine system, extending the known limits of the high-grade Vermelhos Mine main orebodies to depth and continuing to define several growth projects throughout the MCSA Mining Complex and the NX Gold Mine."

    2021 MINERAL RESERVE AND RESOURCE UPDATE




    2021 Mineral Reserves &
    Resources


    2020 Mineral Reserves &
    Resources


    Change


    Tonnes

    Grade

    Contained

    Tonnes

    Grade

    Contained

    Contained





    (kt)

    (Cu %)

    Cu (kt)

    (kt)

    (Cu %)

    Cu (kt)

    Cu (kt)


    %


    Deepening Extension Zone, Pilar Mine











    Proven Reserves

    19

    1.56

    0.3







    0.3


    NA


    Probable Reserves

    10,996

    1.76

    193.9

    7,432

    1.68

    124.6

    69.3


    56


    Proven & Probable Reserves1

    11,016

    1.76

    194.2

    7,432

    1.68

    124.6

    69.6


    56













    Measured Resources

    4

    1.77

    0.1







    0.1


    NA


    Indicated Resources

    10,439

    2.08

    217.0

    7,527

    1.86

    140.0

    76.9


    55


    Measured & Indicated Resources

    10,442

    2.08

    217.1

    7,527

    1.86

    140.0

    77.0


    55













    Inferred Resources

    6,095

    2.14

    130.1

    4,476

    2.12

    94.8

    35.3


    37




    MCSA Mining Complex, including Deepening Extension Zone

    Underground, including Deepening Extension Zone









    Proven Reserves

    9,177

    1.49

    136.8

    9,707

    1.63

    158.2

    (21.4

    )

    (14

    )

    Probable Reserves

    20,797

    1.42

    295.6

    17,516

    1.34

    235.6

    60.1


    25


    Proven & Probable Reserves1

    29,974

    1.44

    432.4

    27,224

    1.45

    393.8

    38.7


    10











    Measured Resources

    30,355

    1.63

    493.7

    33,888

    1.56

    527.3

    (33.7

    )

    (6

    )

    Indicated Resources

    39,005

    1.33

    519.9

    34,292

    1.23

    420.6

    99.3


    24


    Measured & Indicated Resources

    69,360

    1.46

    1,013.6

    68,180

    1.39

    947.9

    65.7


    7











    Inferred Resources

    40,331

    1.14

    458.3

    36,271

    1.05

    379.8

    78.5


    21




    Open Pit









    Proven Reserves

    15,680

    0.59

    92.0

    11,757

    0.60

    70.1

    21.9


    31


    Probable Reserves

    13,627

    0.61

    82.7

    11,474

    0.63

    72.2

    10.6


    15


    Proven & Probable Reserves

    29,306

    0.60

    174.7

    23,230

    0.61

    142.3

    32.4


    23











    Measured Resources

    16,777

    0.61

    103.0

    15,270

    0.63

    96.6

    6.5


    7


    Indicated Resources

    18,563

    0.56

    104.5

    19,335

    0.57

    110.5

    (5.9

    )

    (5

    )

    Measured & Indicated Resources

    35,340

    0.59

    207.5

    34,605

    0.60

    207.0

    0.5














    Inferred Resources

    3,000

    0.50

    15.1

    2,930

    0.37

    10.8

    4.3


    40




    Total MCSA Mining Complex, including Deepening Extension Zone

    Proven Reserves

    24,857

    0.92

    228.8

    21,464

    1.06

    228.3

    0.5





    Probable Reserves

    34,423

    1.10

    378.3

    28,990

    1.06

    307.7

    70.6


    23


    Proven & Probable Reserves

    59,280

    1.02

    607.1

    50,454

    1.06

    536.0

    71.1


    13











    Measured Resources

    47,132

    1.27

    596.7

    49,158

    1.27

    623.9

    (27.2

    )

    (4

    )

    Indicated Resources

    57,568

    1.08

    624.4

    53,627

    0.99

    531.0

    93.4


    18


    Measured & Indicated Resources

    104,700

    1.17

    1,221.1

    102,785

    1.12

    1,154.9

    66.2


    6











    Inferred Resources

    43,331

    1.09

    473.4

    39,201

    1.00

    390.6

    82.8


    21



    1. In the mine design of the Pilar and Vermelhos underground mines, certain stopes include measured and indicated as well as inferred resource blocks. In these instances, inferred resource blocks within the defined mining shape were assigned zero grade. Development occurring within marginal ore, above the operational cut-off grade, has also been included in the mineral reserve estimate. See below notes on mineral reserve and resource estimates for additional technical and scientific information.

    2. 2021 mineral reserve and resource estimates are effective as at September 30, 2021. Presented mineral resources inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. See below notes on mineral reserve and resource estimates for additional technical and scientific information.


    2021 Mineral Reserves &
    Resources

    2020 Mineral Reserves &
    Resources

    Change


    Tonnes
    (kt)

    Grade
    (Au gpt)

    Contained
    Au (koz)

    Tonnes
    (kt)

    Grade
    (Au gpt)

    Contained
    Au (koz)

    Contained
    Au (koz)

    %

    NX Gold Mine

    Santo Antonio Vein









    Proven Reserves
















    NA


    Probable Reserves

    958

    9.01

    277.5

    862

    8.83

    244.7

    32.8


    13


    Proven & Probable Reserves

    958

    9.01

    277.5

    862

    8.83

    244.7

    32.8


    13











    Measured Resources
















    NA


    Indicated Resources

    950

    10.56

    322.4

    763

    10.97

    269.2

    53.2


    20


    Measured & Indicated Resources

    950

    10.56

    322.4

    763

    10.97

    269.2

    53.2


    20











    Inferred Resources

    248

    2.99

    23.9

    268

    13.08

    112.6

    (88.7

    )

    (79

    )



    Matinha Vein









    Proven Reserves
















    NA


    Probable Reserves

    146

    6.26

    29.4







    29.4


    NA


    Proven & Probable Reserves

    146

    6.26

    29.4







    29.4


    NA











    Measured Resources
















    NA


    Indicated Resources

    124

    8.55

    34.1







    34.1


    NA


    Measured & Indicated Resources

    124

    8.55

    34.1







    34.1


    NA











    Inferred Resources

    310

    10.47

    104.2

    149

    12.15

    58.2

    46.0


    79




    Brás & Buracão Veins









    Proven Reserves
















    NA


    Probable Reserves
















    NA


    Proven & Probable Reserves
















    NA











    Measured Resources
















    NA


    Indicated Resources

    7

    3.36

    0.7

    7

    3.36

    0.7







    Measured & Indicated Resources

    7

    3.36

    0.7

    7

    3.36

    0.7
















    Inferred Resources

    157

    4.71

    23.8

    157

    4.71

    23.8









    Total, NX Gold Mine









    Proven Reserves
















    NA


    Probable Reserves

    1,104

    8.64

    306.8

    862

    8.83

    244.7

    62.2


    25


    Proven & Probable Reserves

    1,104

    8.64

    306.8

    862

    8.83

    244.7

    62.2


    25











    Measured Resources
















    NA


    Indicated Resources

    1,081

    10.28

    357.3

    770

    10.90

    269.9

    87.3


    32


    Measured & Indicated Resources

    1,081

    10.28

    357.3

    770

    10.90

    269.9

    87.3


    32











    Inferred Resources

    714

    6.61

    151.9

    574

    10.55

    194.6

    (42.7

    )

    (22

    )


    1. 2021 mineral reserve and resource estimates are effective as at September 30, 2021. Presented mineral resources inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. See below notes on mineral reserve and resource estimates for additional technical and scientific information.

    NOTES ON MINERAL RESERVE AND RESOURCE TABLES

    Mineral reserves are presented inclusive of mineral resources. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add correctly due to rounding. Mineral resources that are not mineral reserves do not have a demonstrated economic viability.

    Estimates for the MCSA Mining Complex and the NX Gold Mine are prepared by or under the supervision of and verified by Mr. Emerson Ricardo Re, MSc, MBA, MAusIMM (CP) (No. 305892), Registered Member (No. 0138) (Chilean Mining Commission) and Resource Manager of the Company, who is a Qualified Person as such term is defined under NI 43-101. The technical and scientific information in this news release has been prepared in accordance with NI 43-101 and has been reviewed, verified and approved by Mr. Emerson Ricardo Re.

    Reference herein of $ or USD is to United States dollars and BRL is to Brazilian reais. Mineral Reserves for all active mines have been estimated using metal prices of $2.75/lb copper and $1,650/oz gold. The exchange rates used were USD/BRL 5.23 for mineral reserve and mineral resource estimates for the MCSA Mining Complex and USD/BRL 5.00 for mineral reserve and mineral resource estimates for the NX Gold Mine.

    MCSA Mining Complex

    Mineral reserve and mineral resource estimates are effective as at September 30, 2021.

    Underground mineral resource estimates have been constrained within newly developed 3D lithology models applying a 0.45% and 0.20% copper grade envelope for high and marginal grade, respectively. Within these envelopes, mineral resources for underground deposits were constrained using varying stope dimensions of up to 20m by 10m by 35m applying a 0.51% copper cut-off grade, as well as a 0.32% copper marginal (or operational) cut-off grade. Mineral resources have been estimated using ordinary kriging inside 5m by 5m by 5m block sizes. The mineral resource estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate to the deposit.

    A low-grade envelope using a cut-off grade of 0.20% copper for underground deposits was used to develop a dilution envelope and development block model that was included to define the grade of blocks within the dilution envelope in the planning and design of stopes within the mineral resources and mineral reserve estimate.

    Open pit mineral resource estimates have been constrained within newly developed 3D lithology models using a 0.21% copper cut-off grade for open pit deposits. Mineral resources have been estimated using ordinary kriging inside 5m by 5m by 5m block sizes. The mineral resource estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate to the deposit.

    Mineral reserves are the economic portion of the measured and indicated mineral resources. Mining dilution and recovery factors vary for specific mineral reserve sources and are influenced by factors such as deposit type, deposit shape, stope orientation and selected mining method. In the mine design of the Pilar and Vermelhos underground mines, certain stopes include measured and indicated as well as inferred resource blocks. In these instances, inferred resource blocks within the defined mining shape were assigned zero grade. In 2021, inferred blocks assigned zero grade totaled approximately 159,000 tonnes for the Deepening Extension Zone, 296,500 tonnes for the Pilar Underground Mine and approximately 80,000 tonnes for the Vermelhos Underground Mine. Development occurring within marginal ore, above the operational cut-off grade, has also been included in the mineral reserve estimate. Dilution occurring from measured and indicated resource blocks was assigned grade based upon the mineral resource grade of the blocks included in the dilution envelope.

    Please refer to the NI 43-101 technical report entitled "2020 Updated Mineral Resources and Mineral Reserves Statements of Mineração Caraíba’s Vale do Curaçá Mineral Assets, Curaçá Valley" dated January 14, 2021 with an effective date of October 1, 2020, prepared by Porfirio Cabaleiro Rodrigues, FAIG, Bernardo Horta de Cerqueira Viana, MAIG, Paulo Roberto Bergmann, FAusIMM, Fábio Valério Câmara Xavier, MAIG and Dr. Augusto Ferreira Mendonça, RM SME all of GE21 Consultoria Mineral Ltda. (“GE21”) and Dr. Beck (Alizeibek) Nader, FAIG of BNA Mining Solutions (the “2020 Technical Report”) for technical information and assumptions related to the 2020 mineral reserve and mineral resource estimate. Where applicable, please refer to the NI 43-101 technical report entitled "2019 Updated Mineral Resources and Mineral Reserves Statements of Mineração Caraíba’s Vale do Curaçá Mineral Assets, Curaçá Valley" dated November 25, 2019 with an effective date of September 18, 2019, prepared by Rubens Jose De Mendonça, MAusIMM, of Planminas – Projectos e Consultoria em Mineração Ltd. (“Planminas”), and Porfirio Cabaleiro Rodrigues, MAIG, Leonardo de Moraes Soares, MAIG, and Bernardo Horta de Cerqueira Viana, MAIG, all of GE21 (the “2019 Technical Report”) for technical information and assumptions related to the 2019 mineral reserve and mineral resource estimate. Where applicable, please refer to the NI 43-101 technical report entitled "2018 Updated Mineral Resources and Mineral Reserves Statements of Mineração Caraíba’s Vale do Curaçá Mineral Assets, Curaçá Valley" dated October 17, 2018 with an effective date of August 1, 2018, prepared by Rubens Jose De Mendonça, MAusIMM, of Planminas, and Porfirio Cabaleiro Rodrigues, MAIG, Fábio Valério Cãmara Xavier, MAIG, and Bernardo Horta de Cerqueira Viana, MAIG, all of GE21 (the “2018 Technical Report”) for technical information and assumptions related to the 2018 mineral reserve and mineral resource estimate.

    Please refer to the table below for details related to the mineral reserve and resource growth of the Deepening Extension Zone within the Pilar Underground Mine from 2018 to 2021.

    Deepening Extension Mineral Resource Evolution since 2018


    2018

    2019


    Tonnes

    Grade

    Contained Cu

    Tonnes

    Grade

    Contained Cu


    (kt)

    (Cu %)

    (kt)

    (kt)

    (Cu %)

    (kt)

    Proven Reserves













    Probable Reserves







    1,369

    1.75

    23.9

    Proven & Probable Reserves







    1,369

    1.75

    23.9








    Measured Resources

    45

    0.39

    0.2







    Indicated Resources

    1,236

    0.62

    7.6

    1,351

    2.19

    29.6

    Measured & Indicated Resources

    1,282

    0.61

    7.8

    1,351

    2.19

    29.6








    Inferred Resources

    334

    2.60

    8.7

    1,330

    1.86

    24.7





    2020





    2021



    Tonnes

    Grade

    Contained Cu

    Tonnes

    Grade

    Contained Cu


    (kt)

    (Cu %)

    (kt)

    (kt)

    (Cu %)

    (kt)

    Proven Reserves







    19

    1.56

    0.3

    Probable Reserves

    7,432

    1.68

    124.6

    10,996

    1.76

    193.9

    Proven & Probable Reserves

    7,432

    1.68

    124.6

    11,016

    1.76

    194.2








    Measured Resources







    4

    1.77

    0.1

    Indicated Resources

    7,527

    1.86

    140.0

    10,439

    2.08

    217.0

    Measured & Indicated Resources

    7,527

    1.86

    140.0

    10,442

    2.08

    217.1








    Inferred Resources

    4,476

    2.12

    94.8

    6,095

    2.14

    130.1


    Note: Mineral resource and reserve estimates were prepared in accordance with the CIM Standards and CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate for the deposit. Please see the 2018 Technical Report, 2019 Technical Report or 2020 Technical Report, as applicable, for a discussion on the assumptions, parameters and methods used to estimate the mineral resources and reserves. 2021 mineral reserve and resource effective date of September 30, 2021. Presented mineral resources inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding.

    NX Gold Mine

    Updated mineral reserve and mineral resource estimates are effective as at September 30, 2021.

    Grade shells using a value of 1.20 gpt gold were used to generate a 3D mineralization model of the NX Gold Mine. Within the grade shells, mineral resources were estimated using ordinary kriging within 2.5 meter by 2.5 meter by 0.5 meter block size, and the mineral resource estimate was constrained using a minimum stope dimension of 2.0 meters by 2.0 meters by 1.5 meters and a cut-off of 1.90 gpt based on gold price of US$1,900 per ounce of gold.

    Mineral reserve estimates were prepared in accordance with the CIM Standards and the CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate for the deposit. Mineral reserves are the economic portion of the indicated mineral resources. Mineral reserve estimates include operational dilution of 17.4% plus planned dilution of approximately 8.5% within each stope for room-and-pillar mining areas and operational dilution of 3.2% plus planned dilution of 21.2% for cut-and-fill mining areas. Assumes mining recovery of 92.5% and 94.7% for room-and-pillar and cut-and-fill areas, respectively. Practical mining shapes (wireframes) were designed using geological wireframes / mineral resource block models as a guide.

    Please refer to the NI 43-101 technical report entitled "Mineral Resource and Mineral Reserve Estimate of the NX Gold Mine, Nova Xavantina" dated January 8, 2021 with an effective date of September 30, 2020, prepared by Porfirio Cabaleiro Rodrigues, FAIG, Paulo Roberto Bergmann, FAusIMM, Bernardo Horta de Cerqueira Viana, MAIG and Leonardo de Moraes Soares, MAIG, all of GE21 (the “2020 NX Gold Technical Report”) for technical information and assumptions related to the 2020 mineral reserve and mineral resource estimate.

    In August 2021, the Company closed a US$110 million precious metals streaming agreement on the NX Gold Mine with RGLD Gold AG, a wholly owned subsidiary of Royal Gold Inc. (collectively "Royal Gold"). The Company received upfront cash consideration of US$100 million for the purchase of 25% of gold produced until 93,000 ounces of gold have been delivered, decreasing to 10% of gold produced over the remaining life of mine. Royal Gold will make ongoing payments equal to 20% of the prevailing spot gold price for each ounce of gold delivered until 49,000 ounces of gold have been received, after which it will pay 40% of the prevailing spot gold price for each ounce of gold delivered. Additional payment obligations of Royal Gold include:

  • Up to US$5 million payable, available through the end of 2024, based upon the number of ounces of gold added to the Measured and Indicated mineral resource categories as compared to the mineral resources as of the effective date of the NX Gold transaction at a rate of US$20 per ounce;

  • Up to US$5 million payable, available from 2022 through the end of 2024, based upon completion of planned meters of drilling within the exploration concessions of the NX Gold Mine at a rate of US$100 per meter; and

  • US$5 per ounce of gold delivered under the NX Gold transaction payable to the Company as contribution towards ongoing ESG initiatives within the area of influence of the mine.

  • Boa Esperança

    Please refer to the NI 43-101 technical report entitled "Boa Esperança Project NI 43-101 Technical Report on Feasibility Study Update" dated November 12, 2021 with an effective date of August 31, 2021, prepared by Kevin Murray, P. Eng., Erin L. Patterson, P. Eng., and Scott C. Elfen, P.E., all of Ausenco Engineering Canada Inc., Carlos Guzmán, FAusIMM RM CMC of NCL Ingeniería y Construcción SpA, who are independent qualified persons under NI 43-101, and Ricardo Emerson Re, MSc, MBA, MAusIMM (CP) (No. 305892), Registered Member (No. 0138) (Chilean Mining Commission) and Resource Manager of the Company (the “2021 Boa Esperança Technical Report”) for technical information and assumptions related to the 2021 mineral reserve and mineral resource estimate.

    QUALITY ASSURANCE / QUALITY CONTROL

    Current QA/QC Program

    At the MCSA Mining Complex, the Company is currently drilling underground with core drill rigs using a combination of owned and third-party contracted drill rigs. During the period from September 2020 to September 2021, third party drill rigs were operated by Major Drilling, DrillGeo Geologia e Sondagem Ltda., and Layne Christensen Co., all of whom are independent of the Company. Drill core is logged, photographed and split in half using a diamond core saw at MCSA’s secure core logging and storage facilities. Half of the drill core is retained on site and the other half-core is used for analysis, with samples collected on one-meter sample intervals unless an interval crosses a geological contact. Reverse circulation cuttings are split at the drill rig using one-meter sample intervals. All sample preparation is performed in the secure on-site laboratory of Minera?ão Caraíba S.A. (“MCSA”). Total copper is determined using a nitric-hydrochloric acid digestion and Atomic Absorption Spectrometry (“AAS”) and/or Titration. Oxide copper values are determined using sulfuric acid digestion followed by AAS. All such sample results used in the preparation of the 2021 updated mineral resource and reserve estimate have been monitored through a quality assurance and quality control (“QA/QC”) program that includes the insertion of certified standards, blanks, and pulp and reject duplicate samples. Regular check-assays are submitted to ALS Brasil LTDA’s facility located in Vespasiano, Minas Gerais, Brazil, at a rate of approximately 5%. ALS Brasil LTDA is independent of the Company.

    At the NX Gold Mine, the Company is currently drilling on surface with third-party contracted core drill rigs. During the period from September 2020 to September 2021, third party drill rigs were operated by Servitec Foraco Sondagem S.A. who is independent of the Company. Drill core is logged, photographed and split in half using a diamond core saw at NX Gold’s secure core logging and storage facilities. Half of the drill core is retained on site and the other half-core is used for analysis, with samples collected on a minimum of 0.2 meters and a maximum of 2.0 meters with an average length of 0.5 meters. Sampling commences at least 1.0 meter before the start of the mineralized zone and continues at least 1.0 meters beyond the limit of the mineralized zone. Sample collection is performed at NX Gold’s core logging facilities with all sample preparation performed at ALS Brasil Ltda.'s laboratory or SGS Geosol - Laboratórios Ltda's laboratory, both of which are located in Goiânia, Brazil. Samples are analyzed by the certified laboratories of ALS Peru S.A. or SGS Geosol - Laboratórios Ltda, both of whom are independent of the Company. Gold content is preferentially determined using screen fire assay. If the sample isn't sufficiently weighted, fire assay is used. All sample results used in the preparation of the 2021 updated mineral resource and reserve estimate have been monitored through a QA/QC program that includes the insertion of certified standards, blanks, field duplicates and pulp duplicates at a rate of one standard, one blank, and one field duplicate sample per every 20 samples for a blended rate of approximately 5%. Pulp duplicate are used less frequently than standards, blanks and field duplicates because not all samples return enough weight for an additional assay.

    QA/QC Validation

    The QA/QC validation process undertaken for the 2021 updated mineral resource and reserve estimates for the MCSA Mining Complex and the NX Gold Mine are consistent with the process set out in the 2020 Technical Report and the 2020 NX Gold Technical Report, respectively.

    ABOUT ERO COPPER CORP

    Ero Copper Corp, headquartered in Vancouver, B.C., is focused on copper production growth from the MCSA Mining Complex located in Bahia State, Brazil, with over 40 years of operating history in the region. The Company's primary asset is a 99.6% interest in the Brazilian copper mining company, MCSA, 100% owner of the MCSA Mining Complex, which is comprised of operations located in the Curaçá Valley, Bahia State, Brazil, wherein the Company currently mines copper ore from the Pilar and Vermelhos underground mines, and the Boa Esperança development project, an IOCG-type copper project located in Pará, Brazil. The Company also owns 97.6% of the NX Gold Mine, an operating gold and silver mine located in Mato Grosso, Brazil. Additional information on the Company and its operations, including technical reports on the MCSA Mining Complex, Boa Esperança and NX Gold properties, can be found on the Company's website ( www.erocopper.com), on SEDAR ( www.sedar.com), and on EDGAR ( www.sec.gov).

    ERO COPPER CORP.

    /s/ David Strang

    For further information contact:

    David Strang, CEO

    Courtney Lynn, VP, Corporate Development & Investor Relations


    (604) 335-7504


    info@erocopper.com



    CAUTION REGARDING FORWARD LOOKING INFORMATION AND STATEMENTS

    This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking statements”). Forward-looking statements include statements that use forward-looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, statements with respect to mineral reserve and mineral resource estimates; targeting additional mineral resources and expansion of deposits; the Company’s expectations, strategies and plans for the MCSA Mining Complex and the NX Gold Property, including, but not limited to, the Company’s planned exploration, development and production activities; the significance and timing of any particular exploration program or result and the Company’s expectations for current and future exploration plans including, but not limited to, planned areas of additional exploration, the significance of any new discoveries and targets including, but not limited to, extensions of defined mineralized zones, possibilities for mine life extensions or continuity of high-grade mineralization, and the timing and advancement of ongoing projects including the Deepening Extension Project.

    Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this press release including, without limitation, assumptions about: continued effectiveness of the measures taken by the Company to mitigate the possible impact of COVID-19 on its workforce and operations; favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the production, development and exploration of the Company’s properties and assets; future prices of copper and other metal prices; the timing and results of exploration and drilling programs; the accuracy of any mineral reserve and mineral resource estimates; the geology of the MCSA Mining Complex, NX Gold Property and the Boa Esperança Property being as described in the technical reports for these properties; production costs; the accuracy of budgeted exploration and development costs and expenditures; the price of other commodities such as fuel; future currency exchange rates and interest rates; operating conditions being favourable such that the Company is able to operate in a safe, efficient and effective manner; work force conditions to remain healthy in the face of prevailing epidemics, pandemics or other health risks (including COVID-19), political and regulatory stability; the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms; obtaining required renewals for existing approvals, licenses and permits on favourable terms; requirements under applicable laws; sustained labour stability; stability in financial and capital goods markets; availability of equipment and critical supplies, spare parts and consumables; positive relations with local groups and the Company’s ability to meet its obligations under its agreements with such groups; and satisfying the terms and conditions of the Company’s current loan arrangements. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive, global health, and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

    Furthermore, such forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation the risk factors listed under the heading “Risk Factors” in the Annual Information Form for the year ended December 31, 2020 and dated March 16, 2021.

    Although the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, conditions, results, performance or achievements to differ from those anticipated, estimated or intended.

    The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking statements contained herein. There can be no assurance that forward-looking 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.

    Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws.

    CAUTIONARY NOTES REGARDING MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES

    In accordance with applicable Canadian securities regulatory requirements, all mineral reserve and mineral resource estimates of the Company disclosed in this press release have been prepared in accordance with NI 43-101 and are classified in accordance with CIM Standards. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. NI 43-101 differs significantly from the disclosure requirements of the Securities and Exchange Commission (the “SEC”) generally applicable to U.S. companies. For example, the terms “mineral reserve”, “proven mineral reserve”, “probable mineral reserve”, “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in NI 43-101. These definitions differ from the definitions in the disclosure requirements promulgated by the SEC. Accordingly, information contained in this press release may not be comparable to similar information made public by U.S. companies reporting pursuant to SEC disclosure requirements.

    Mineral resources which are not mineral reserves do not have demonstrated economic viability. Pursuant to the CIM Standards, mineral resources have a higher degree of uncertainty than mineral reserves as to their existence as well as their economic and legal feasibility. Inferred mineral resources, when compared with measured or indicated mineral resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Pursuant to NI 43-101, inferred mineral resources may not form the basis of any economic analysis. Accordingly, readers are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted into a mineral reserve, or is or will ever be economically or legally mineable or recovered.

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)


    To: LoneClone who wrote (162605)1/6/2022 1:59:04 PM
    From: LoneClone
       of 169762
     
    Harfang and LaSalle announce merger and concurrent financing with a strategic investment from Monarch Mining Corporation

    ca.finance.yahoo.com

    Harfang Exploration Inc.
    Thu., January 6, 2022, 9:17 a.m.·11 min read

    MONTRÉAL and VANCOUVER, British Columbia, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“Harfang”) (TSX.V: HAR) and LaSalle Exploration Corp. (“LaSalle”) (TSX-V: LSX) are pleased to announce that they have entered into a definitive Arrangement Agreement dated January 5, 2022 (the “Agreement”) pursuant to which Harfang will acquire all of the issued and outstanding shares of LaSalle (the “LaSalle Shares”). The transaction will be carried out by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”).

    Under the terms of the Arrangement, LaSalle shareholders will receive, on a pre-consolidation basis (further details on the proposed Harfang share consolidation below), 0.3908 of a Harfang common share (the “Harfang Shares”) for each LaSalle Share. The exchange ratio implies a consideration of $0.0968 per LaSalle Share based on the 30-day volume weighted average price (“VWAP”) of the Harfang Shares and the LaSalle Shares on the TSX Venture Exchange (“TSX-V”) on December 22, 2021. Upon completion of the Arrangement, it is expected that the shareholders of LaSalle will hold approximately 35.5% of Harfang’s issued and outstanding shares (prior to the concurrent Offering).

    The LaSalle management and board, representing 5.1% of the LaSalle Shares, are supportive of the transaction and have entered into support agreements with Harfang to vote their LaSalle Shares in favour of the Arrangement. LaSalle’s CEO, Ian Campbell, and VP Corporate Development, Ron Stewart will continue their positions to lead the combined company, which will deliver LaSalle shareholders an exceptional geological and financial team in a much stronger exploration vehicle. See details below.

    Dan Innes, Chairman of LaSalle commented, “This transaction represents a compelling opportunity to accelerate the growth strategy of LaSalle in all aspects from exploration, access to capital and additional accretive transactions. It delivers to both LaSalle and Harfang shareholders the platform to create an industry leader guided by an experienced management team, an exceptionally strong board, a highly prospective portfolio of exploration assets, the financial resources and access to capital to advance our projects and realize their full potential.”

    André Gaumond, Chairman of Harfang added, “We are delighted to be entering into a transaction between LaSalle and Harfang. It is an excellent strategic and cultural fit for both companies, creating a far stronger platform that has already been embraced by the Quebec institutional funds. The new Harfang will be larger, more relevant and benefit from the significant synergies unlocked by the transaction.”

    Transaction Highlights

    The transaction will consolidate the contiguous gold exploration assets of Lasalle’s Radisson and Harfang’s Serpent properties, James Bay Region, Québec, both of which will benefit from operational efficiency, synergies and a combined exploration strategy as the projects advance, along with an exploration portfolio of high quality gold assets in Québec and Ontario.

    The integration of the Radisson property will add 6 km of strike of potential mineralization to the Serpent gold bearing structures, further solidifying Harfang as the largest mineral claim holder in the region totalling 508.4 km2. Drill-ready targets within the consolidated project portfolio offer compelling value creation potential to shareholders of the combined company.



    Une image contenant carte Description générée automatiquement
    Figure 1. Location of the major gold corridor straddling the limit between the Serpent and Radisson properties.

    The transaction offers several positive direct benefits to the shareholders of Harfang and LaSalle, including, the following:

  • Highly qualified board and management team with a track record of success;

  • Solid platform for further consolidation and growth opportunities;

  • $9.8M in treasury, excluding the proceeds under the concurrent Offering for total maximum gross proceeds of $5M;

  • Accelerating the exploration of a new district-scale gold corridor in the James Bay Region, QC, by merging Serpent and Radisson properties (total surface area of 508.4 km2);

  • Numerous drill ready targets and blue-sky exploration potential;

  • LaSalle and Harfang to commence a combined minimum 6,000 metre drill program on the Serpent-Radisson property;

  • Strong portfolio of exploration properties from which to unlock shareholder value.

  • Ian Campbell, President and CEO of LaSalle and incoming President and CEO of Harfang commented, “I am very excited about leading the team and to what this transaction represents for all of our shareholders as we open this new chapter. Ron and I are very much looking forward to joining forces with Francois Huot and Yvon Robert and leveraging our broad range of skillsets, adding value through focused exploration, unlocking value in all our projects and the platform which opens up tremendous potential for further consolidation and growth opportunities.

    Strong Board and Management

    The Arrangement brings together a highly experienced team of mining industry professionals with the Board to be composed of:

  • Jean-Pierre Janson as Chairman, current Chairman of Midland Exploration

  • André Gaumond, Former President of Virginia Mines

  • Daniel Innes, Founder and original CEO, Lake Shore Gold Corp.

  • Ian Campbell, President and CEO of LaSalle Exploration Corp.

  • Sylvie Prud’homme, former Manager, Investor Relations at Osisko Mining Corporation

  • Karen Rees, Former VP Exploration and Corporate Secretary at Temex Resources Corp.

  • Vincent Dubé-Bourgeois, CEO of GoldSpot Discoveries Corp.

  • At the closing of the Arrangement, Ian Campbell will be appointed as President and Chief Executive Officer, Ron Stewart will be appointed as Vice President, Corporate Development, François Huot will remain Vice President Exploration, and Yvon Robert will remain as Chief Financial Officer. François Goulet has accepted to remain as President and Chief Executive Officer of Harfang until the closing of the Arrangement, at which time his resignation previously announced on September 1, 2021 will become effective.

    Transaction Details

    Pursuant to the terms of the Agreement, Harfang will acquire all of the issued and outstanding LaSalle Shares on the basis of 0.3908 Harfang Shares (on a pre-Consolidation basis) for each share of LaSalle held (the “Exchange Ratio”). Warrants and options of LaSalle will be adjusted or exchanged to become warrants and options, respectively, of Harfang based on the Exchange Ratio. It is anticipated that these securities will be adjusted or exchanged on a post-Consolidation basis. The transaction was negotiated at arm’s length.

    Immediately prior to the closing of the transaction, it is anticipated that Harfang will consolidate its common shares on a 2.1554 for one basis (the “Consolidation”), subject to the receipt of all necessary approvals.

    The Arrangement will be carried out by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and is subject to a number of conditions being satisfied or waived by one or both of Harfang and LaSalle at or prior to closing of the Arrangement, including approval of LaSalle shareholders, together with any requisite minority approvals, completion of the Consolidation, amendment of the Harfang stock option plan to extend expiry date of stock options to 12 months following the date a person ceases to be an “eligible person” under the plan, and receipt of all necessary regulatory and court approvals and the satisfaction of certain other closing conditions customary for a transaction of this nature, including completion of the Offering (as hereinafter defined).

    It is expected that the special meeting of LaSalle shareholders to approve the proposed Arrangement will be held on or before March 31, 2022 (the “LaSalle Meeting”) and, if approved at such meeting and all other conditions have been met, it is expected that the Arrangement would close shortly thereafter.

    The Agreement includes customary provisions, including non-solicitation, right-to-match and fiduciary out provisions, as well as certain representations, covenants and conditions that are customary for a transaction of this nature. A termination fee of $300,000 may be payable by either party in the case of certain terminating events.

    Further information regarding the Arrangement will be contained in the management information circular to be prepared by LaSalle (the “LaSalle Circular”) and mailed to its securityholders in connection with the LaSalle Meeting. All securityholders of LaSalle are urged to read the information circular once available, as it will contain important additional information concerning the Arrangement.

    LaSalle is subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). MI 61-101 provides that, in certain circumstances, where a “related party” (as defined in MI 61-101) of an issuer is entitled to receive a “collateral benefit” (as defined in MI 61-101) in connection with an arrangement transaction such as the Arrangement, such transaction may be considered a “business combination” for the purposes of MI 61-101 and subject to minority shareholder approval requirements.

    LaSalle has determined that certain directors or executive officers of LaSalle are receiving a “collateral benefit” in connection with the Arrangement as each beneficially owns or exercises control or direction over more than 1% of LaSalle Securities (calculated in accordance with MI 61-101). Consequently, the LaSalle Shares beneficially owned, directly or indirectly, these certain directors or executive officers will be excluded for the purposes of determining if minority approval of the Arrangement is obtained

    This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell any shares or a solicitation of a proxy.

    Concurrent Financing

    Concurrently with the Arrangement, Harfang proposes to complete, on a post-Consolidation basis, a non-brokered private placement of subscription receipts (the “Offering”) for minimum proceeds of $1 million and maximum proceeds of $5 million. The Offering will be comprised of common share subscription receipts (the “Subscription Receipts”) at a price of $0.55 per Subscription Receipt. Upon satisfaction of the Escrow Release Conditions (as defined below), each Subscription Receipt shall be exchangeable for one post-Consolidation common share of Harfang.

    The Offering is anticipated to close on or before January 31, 2022. The funds received from the Offering will be held in escrow (the “Escrowed Funds”) by an escrow agent pending completion of the Arrangement. Release of the Escrowed Funds will be conditional upon satisfaction of the following conditions (together, the “Escrow Release Conditions”): (i) approval of the Arrangement by LaSalle shareholders; (ii) closing of the Arrangement; (iii) completion of the Consolidation; (iv) the closing of the Offering for minimum proceeds of $1 million; and (v) the receipt of all required regulatory approvals including, without limitation, the conditional approval of the TSX-V for the Arrangement, the Consolidation and the Offering. Harfang intends to use the net proceeds of the Offering, once released by the escrow agent following completion of the Escrow Release Conditions, to continue its exploration programs on the combined Serpent / Radisson properties and for general corporate purposes. The LaSalle Circular will contain complete details on the intended use of proceeds.

    In connection with the Offering, Harfang has received expressions of interest from strategic investors including Québec Institutional Funds for an amount of $1,600,000. Furthermore, Harfang and Monarch Mining Corporation (“Monarch”) have signed a binding term sheet pursuant to which Monarch has agreed to participate in the Offering for an amount of $1,500,000 (the “Monarch Investment”). In connection with the Monarch Investment, and as a condition precedent thereto, Harfang has also agreed, subject to the receipt of the required regulatory approvals, to subscribe for common shares of Monarch for a total amount of $750,000. It is also anticipated that management will participate in the Offering for a total of $200,000 (details of such participation remain to be confirmed).

    Board Recommendations

    The board of directors of LaSalle (the “LaSalle Board”) has formed a special committee (the “Special Committee”) to consider and evaluate the Arrangement. The Special Committee, following a review of the terms and conditions of the Agreement and consideration of a number of factors, unanimously recommended that the LaSalle Board approve the Arrangement. After receiving the recommendation of the Special Committee and advice, including a fairness opinion, from its advisors, the LaSalle Board has unanimously determined that the Arrangement is in the best interests of LaSalle and will recommend that LaSalle shareholders vote in favour of the Arrangement. Prior to the execution of the Agreement, Evans & Evans, Inc. provided a fairness opinion that, based upon and subject to the assumptions, limitations and qualifications in such opinion, the consideration to be received by the LaSalle shareholders is fair, from a financial point of view, to LaSalle shareholders. A summary of the fairness opinion will be included in the LaSalle Circular.

    LaSalle Delisting and SEDAR

    If the Arrangement is completed, the LaSalle Shares will be delisted from the TSX-V. A copy of the Agreement will be available through LaSalle and Harfang’s filings with the applicable securities regulatory authorities in Canada on SEDAR at www.sedar.com.

    Advisors and Counsel

    Laurentian Bank Securities Inc. is acting as financial advisor and Fasken Martineau DuMoulin LLP is acting as legal counsel to Harfang.

    Evans & Evans, Inc. has provided the Special Committee with a fairness opinion in respect of the Arrangement and Armstrong Simpson is acting as legal counsel to LaSalle.

    Qualified Persons

    Technical aspects of this news release have been reviewed, verified and approved on behalf of Harfang by François Huot, P.Geo., Vice President Exploration of Harfang, and on behalf of LaSalle by Ron Stewart, Vice President Corporate Development, BSc. Geology, of LaSalle, both of whom are qualified persons as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

    About Harfang Exploration Inc.

    Harfang is a mining exploration company whose primary mission is to discover new gold districts in the province of Québec. Harfang's development model is based on the generation of new mining projects and on the establishment of partnerships with major exploration and mining companies to advance its exploration projects. Harfang trades on the TSX Venture Exchange (“TSX-V”) under the symbol “HAR”.

    About LaSalle Exploration Corp.

    LaSalle is a Canadian exploration company focused on less explored districts of the Abitibi in Ontario and Québec, recognized for mining investment based on mineral potential, policy and success, LaSalle is actively exploring Radisson in the developing Eeyou Itschee-James Bay region in Québec as well as the Blakelock and Egan high-grade gold properties located in northeastern Ontario. LaSalle trades on the TSX Venture Exchange (“TSX-V”) under the symbol “LSX”.

    For further information please contact:

    Harfang Exploration Inc
    Telephone: 514 940-0670 x339
    Email: info@harfangexploration.com

    LaSalle Exploration Corp.
    Telephone: (604) 647-3966
    Email: info@lasallecorp.com

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

    Cautionary Statement Regarding Forward Looking Information

    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, including, without limitation, statements regarding anticipated benefits of the Arrangement, the closing of the Arrangement, the Offering, the Serpent and Radisson properties (the “Projects”), including anticipated operational synergies between the properties, are forward-looking statements. Although Harfang and LaSalle (the "Companies") believe 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 Companies 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 Companies' periodic filings with Canadian securities regulators, and assumptions made with regard to: the Companies' ability to complete the proposed Arrangement; the Companies' ability to secure the necessary shareholder, securityholder, legal and regulatory approvals required to complete the Arrangement; the ability to complete the Offering; the estimated costs associated with the advancement of the Projects; and the Companies' ability to achieve the synergies expected as a result of the Arrangement. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from the Companies’ expectations include risks associated with the business of Harfang and LaSalle; risks related to the satisfaction or waiver of certain conditions to the closing of the Arrangement; non-completion of the Arrangement; risks related to reliance on technical information provided by Harfang and LaSalle; risks related to exploration and potential development of the Projects; business and economic conditions in the mining industry generally; the impact of COVID-19 on the Companies’ business; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Harfang and LaSalle’s filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Neither Harfang nor LaSalle undertakes any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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    To: LoneClone who wrote (162606)1/6/2022 2:02:41 PM
    From: LoneClone
       of 169762
     
    Millennial Provides Update Regarding Lithium Americas Arrangement

    newsfilecorp.com

    Vancouver, British Columbia--(Newsfile Corp. - January 5, 2022) - Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) ("Millennial" or the "Company") is pleased to announce that at the Company's special meeting of shareholders (the "Shareholders") and warrantholders (the "Warrantholders", and, together with the Shareholders, the "Voting Securityholders") held earlier today (the "Meeting") the Voting Securityholders voted in favour of the special resolution (the "Arrangement Resolution") approving the previously announced plan of arrangement under Section 288 of the Business Corporations Act (British Columbia) pursuant to which Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) is to acquire all of the issued and outstanding common shares of the Company (the "Arrangement").

    The Arrangement Resolution was approved by: (i) 98.60% of votes cast by Shareholders; (ii) 98.61% of votes cast by Voting Securityholders voting together as a single class; and (iii) 98.31% of the votes cast by Shareholders excluding for this purpose the votes cast by any persons that are required to be excluded under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. Voting Securityholders holding securities carrying an aggregate of 22,037,250 votes, representing approximately 21.57% of votes entitled to be cast at the Meeting, were represented in person or by proxy at the Meeting.

    Additionally, on December 30, 2021, the Commissioner of Competition issued a "no-action" letter, which satisfies the Competition Act approval condition in the Arrangement Agreement.

    The Arrangement remains subject to customary closing conditions, including the approval of the Supreme Court of British Columbia. The Arrangement is currently expected to be completed on or about January 25, 2022, provided that the conditions to the Arrangement are satisfied or waived.

    About Millennial

    To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.

    About LAC

    Lithium Americas is a development-stage company with projects in Jujuy, Argentina and Nevada, United States. Lithium Americas trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol "LAC".

    MILLENNIAL LITHIUM CORP.

    "Farhad Abasov"

    President, CEO and Director

    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 may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the Arrangement, approvals and completion of the Arrangement. The Company's current plans, expectations and intentions may be impacted by economic uncertainties arising out of the Covid-19 pandemic or by the impact of current financial and other market conditions. Such statements represent the Company's current views with respect to future events and are necessarily 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 risks, contingencies and uncertainties. Many factors, both known and unknown, could cause 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

    NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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    To: LoneClone who wrote (162607)1/6/2022 2:04:22 PM
    From: LoneClone
       of 169762
     
    Surge Battery Metals Announces Staking of a New Lithium Property in Teels Marsh, Nevada

    accesswire.com

    Thursday, January 6, 2022 8:00 AM

    VANCOUVER, BC / ACCESSWIRE / January 6, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce that it has recently staked a 663 ha. (1,640 acres) property in the Teels Marsh Playa, Mineral County, Nevada. The property is located in an active region for both lithium exploration and production, about 84 km northeast of Albemarle's (ALB) Silver Peak brine mining operation in a similar geologic setting, and adjoining the Dajin Lithium Corp's (DJI) Teels Marsh Lithium project on the southwestern edge of the playa.

    To date, limited exploration has been conducted on the property including a gravity survey and various lithium brine and sediment samples. Playa sediment samples from the property have shown lithium values to 104.5 ppm Li and nearby hot springs sediments have been found to carry up to 500 ppm Li values during sampling.

    The property covers two sub-basins and a connecting buried paleo-channel defined in a detailed gravity survey conducted in 2020. These features may contain trapped lithium rich brines or volcanic ash aquifers similar to the Clayton Valley deposit setting.

    Surge plans to conduct additional exploration this spring designed to identify sites for drill tests and plans to review all previous exploration results on the Teels Marsh West Project, including other potential sites in the vicinity. This will be accomplished in early 2022, in order to guide a Spring/Summer 2022 exploration program aimed at locating lithium bearing montmorillonite clay deposits and lithium rich brines within the basins.

    Metallurgical testing of montmorillonite clay, a non-Hectorite clay, in nearby Clayton Valley indicates low-cost processing can be achieved by leaching with low acid consumption (125 kg/t) and high lithium recovery over 85 per cent Li. These high extractions prove that the dominant lithium-bearing minerals present are not hectorite, a refractory clay mineral which requires roasting and/or high acid consumption to liberate the lithium. (Refer to Cypress Development's Pre-Feasibility Study on Clayton Valley Lithium Project).

    About Teels Marsh West:

    Shallow auger holes and drill-holes (<60 m) show that unconsolidated basin fill deposits include clays, clastic rocks silts and sands), evaporate deposits, and volcanic ash. With the exception of clays, these rocks represent potential sources of permeability. Volcanic ash beds could host significant zones of permeability, due to the relative proximity of Teels Marsh to young volcanic centers at Mono Craters (near Mono Lake) and Long Valley, California, both located approximately 70 km to the southwest. These ash layers have proven to be the most productive brine sources in Clayton Valley (an active geothermal area).

    The Bishop Tuff, which is believed to represent an important zone of permeability at Clayton Valley, (80 km to the SE of the only North American lithium brine deposit which is being mined by Rockwood Lithium Inc.) is likely present in the subsurface at Teels Marsh.

    Direct evidence of an active geothermal system in the Teels Marsh area has recently been gathered by researchers at the Nevada Bureau of Mines and Geology, University of Nevada, Reno and the Desert Research Institute. This evidence comes from mapping anomalously high temperatures at a depth of only 2 meters below the basin surface: these temperatures are as high at 35C compared to background temperatures of approximately 16-18C. The temperature anomalies occur in two separate zones, both of which are adjacent to a Quaternary fault on the western margin of Teels Marsh basin. The two temperature anomalies have a combined strike length parallel to the fault of almost 4 km. A USGS geochemical survey conducted in 1976 reported lithium values as high as 850 ppm from samples taken from springs marginal to these fault structures.

    Mr. Greg Reimer, Company President & CEO states "The area is getting a lot of attention as EV battery production builds up in Nevada and globally. This particular property has recently become available for staking and Surge's Nevada-based QP, Mr. Alan J. Morris CPG, is familiar with both the property and area having worked in this immediate area in the past. This project is adjacent to the Dajin Lithium Corp's Teels Marsh project which comprises a land position of 3,202 hectares and 403 Placer claims. Dajin has worked extensively on their claims having completed the construction of the engineered roads and drill pads in preparation for the drilling of four production sized exploration wells. This is a highly prospective lithium property, and we look forward to continuing to increase the value of our strategic lithium exploration assets in Nevada, for the benefit of all our shareholders."

    Qualified Person

    The technical content of this news release has been reviewed and approved Alan J Morris, CPG, the project geologist and Qualified Person on the Teels Marsh West Project.

    About Surge Battery Metals Inc. surgebatterymetals.com

    The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy and Copper in British Columbia and lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

    Nevada Lithium Claims

    The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada. The Northern Nevada Lithium Project is located in the Granite Range about 34 line- km southeast of Jackpot, Nevada, about 73 line-km north-northeast of Wells, Nevada. The target is a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance.

    The Company has entered into a Property Option Agreement to earn an undivided 80% interest in the San Emidio Desert Lithium Project, subject to a 2% NSR, located 60 miles Northeast of Reno, Nevada from Lithium Corporation (OTCQB: LTUM). The San Emidio Desert Lithium Project consists of 60 mineral claims comprising a total of 4,800 acres and is located in the San Emidio Desert.

    Nickel Projects, Northern BC

    The Company has entered into a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc.

    The Surge Nickel Project consists of two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney Williams area (HN4) covering 1863 hectares immediately south of and adjacent to the Decar Project and the Mitchell Range area (N100) covering 8659 hectares, located in Northern British Columbia. Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims of the N100 claims).

    The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

    Caledonia Project, Vancouver Island, BC

    The Company has entered into a Property Option Agreement to acquire a 100% interest in 7 mineral claims including the Caledonia, Cascade and Bluebell claims, subject to a NSR between 1-2%. Located in the Nanaimo Mining Division on northern Vancouver Island. The claims are 7 km north-west of BHP's past producing Island Copper mine. During its prime operating period the Island Copper mine was Canada's third-largest copper producer. The Caledonia Project claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine.

    On Behalf of the Board of Directors

    "Greg Reimer"

    Greg Reimer, President & CEO
    604-428-5690

    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 may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

    SOURCE: Surge Battery Metals Inc.

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    To: LoneClone who wrote (162608)1/6/2022 2:07:24 PM
    From: LoneClone
       of 169762
     
    Lithium Power International: Extensive Lithium Exploration Programs at Blackwood and the Pilbara, Western Australia

    ca.finance.yahoo.com

    Lithium Power International Limited
    Wed., January 5, 2022, 6:01 p.m.·5 min read

    Figure 1

    Location of LPI’s properties in the Pilbara and SW regions of Western Australia; work recently completed at Greenbushes Project and at Pilgangoora

    Figure 2

    Drone survey completed at the Blackwood Prospect which lies on the Donnybrook Shear Zone that hosts the Greenbushes Mine, shown over the regional RTP 1VD Collie & Pemberton Magnetic Images. Soil Sampling commenced over EW dilutional zones along NW trending structures off the DZS

    Figure 3

    Soil Sampling conducted in 2021 over the Pilgangoora Project; samples currently at the laboratory being analysed

    HIGHLIGHTS

  • LPI is advancing on multiple lithium projects and prospects in Western Australia

  • Completion of a high-definition drone magnetic survey at the Blackwood Prospect over a significant structural anomaly on the Donnybrook-Bridgetown Shear Zone, along strike from the world-class Greenbushes lithium pegmatite deposit in SW Western Australia

  • Soil sampling commenced over a new target area at Blackwood Prospect

  • Phase 1 of detailed baseline flora assessment completed, while fauna component also completed in November.

  • Soil sampling completed at the Pilgangoora tenement, adjacent to Pilbara Minerals’ Pilgangoora lithium mine.

  • SYDNEY, Australia, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) is pleased to provide an update on activities being undertaken in Western Australia (Figure 1). A particular focus is immediately adjacent to the Greenbushes lithium mine, which is owned by Talison Lithium and has Albemarle Corp, Tianqi Lithium and IGO Limited as its owners.

    Figure 1: Location of LPI’s properties in the Pilbara and SW regions of Western Australia; work recently completed at Greenbushes Project and at Pilgangoora:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/aa047ca4-7dfe-4c03-ad05-cc976c12db64


    Blackwood Prospect – Greenbushes

  • Drone Magnetic Survey Rational

  • The geophysical program at the Blackwood Prospect, within E70/4774, has been successfully completed with a total of 468km of aeromagnetic data acquired by AirGeoX. The data is currently being processed to enable an advanced interpretation of the area, providing the highest detail possible of the structural architecture of the Donnybrook Shear Zone (DSZ). This will improve the understanding of where pegmatites are most likely to be located and focus the planning of soil sampling and subsequent RC drilling.

    The DSZ is the major structure (Figure 2) that hosts the Greenbushes pegmatite mined by Talison. Along with its subsidiary faults, this zone does not have a strong surface expression because it is predominantly obscured by soil and/or laterite. It has been identified in the Blackwood Prospect by LPI through sampling and detailed investigation of the Geological Survey of WA’s geophysical data.

    The drone flew east-west lines over the area of the Blackwood Prospect (see figure 2) taking readings of the earth’s magnetic field. A total of 422km flight line and traverse line total kilometres were flown along 154 NS lines on 40m spacing. A further 46km of EW tie lines on 400m spacing.

    The results of this work are being used to target areas for soil sampling (see below) and for Ground Penetrating Radar (DGPR) over identified NW faults, along which pegmatites may have intruded.

  • Soil Sampling on Dilutional Jogs on NW structures

  • An orientation soil sampling program on 300m x 300m spacing has commenced at a newly defined target at the southern end of the Blackwood Prospect. Sampling is being conducted by conventional hand digging of pits and the use of a hand auger, to attempt to reach the top of the bedrock sequence. The results will be compared before completing further sampling on the Blackwood Prospect. The soil sampling is targeting interpreted NE trending dilutional jogs along the NW orientated structures. Already small outcrops of pegmatites have been identified within the dilutional jogs. Once the results of the orientation sampling have been returned, an infill program will commence.

    Figure 2: Drone survey completed at the Blackwood Prospect which lies on the Donnybrook Shear Zone that hosts the Greenbushes Mine, shown over the regional RTP 1VD Collie & Pemberton Magnetic Images. Soil Sampling commenced over EW dilutional zones along NW trending structures off the DZS:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/fe301b00-8afb-4ef3-bea0-3179dc597e05


    East Kirup Prospect - Greenbushes

  • Baseline Flora and Fauna Surveys

  • Two surveys have been completed to provide detailed baseline environmental information and to guide the development of a conservation management plan. These surveys are to be run over two seasons. A second field component will be completed in March 2022.

  • Drilling Program

  • Drilling was scheduled to commence in mid-December 2021 but was delayed due to the drilling contractor capacity limitations. The drill pads have been prepared with work to commence in mid-January to test the combined arsenic, lithium, beryllium, tantalum and tin anomaly previously defined by both MIM sampling and the regional laterite sampling program.

    Pilgangoora Prospect - Soil Sampling

    The soil sampling program at Pilgangoora has been completed. A total of 544 samples were collected, including 10 per cent duplicates. The sampling (figure 3) was aimed at closing off previously defined lithium anomalies associated with the identified greenstone belts, and also at investigating the potential of gold within a young intrusive granite and its contact aureole.

    This intrusive body is considered to have similarities to the Intrusive bodies where De Grey Mining has successfully defined a significant gold resource at their Mallina Project, which includes the 6+ million-ounce Hemi deposit. The samples have been dispatched for analysis, with an expected six-week turnaround time.

    Lithium Power International’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:

    “Activities on all projects and prospects are advancing well, and we aim to make drilling results known once they come to hand.”

    Figure 3: Soil Sampling conducted in 2021 over the Pilgangoora Project; samples currently at the laboratory being analysed:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/769e3d8b-de80-4221-8a8e-38ace7218a85


    For further information, please contact:

    Cristobal Garcia-Huidobro – CEO; or Andrew Phillips – CFO

    Lithium Power International
    E: info@lithiumpowerinternational.com
    Ph: +612 9276 1245
    www.lithiumpowerinternational.com
    @LithiumPowerLPI

    Jane Morgan – Investor and Media Relations
    + 61 (0) 405 555 618
    jm@janemorganmanagement.com.au

    For U.S. and other international investor relations enquiries:

    Arrowhead Business and Investment Decisions, LLC
    Thomas Renaud | Managing Director
    42 Broadway, 17th Floor
    New York, NY 10004
    Office: +1 212 619-6889
    enquire@arrowheadbid.com


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    To: LoneClone who wrote (162609)1/6/2022 2:09:36 PM
    From: LoneClone
       of 169762
     
    Sokoman and Benton Continue to Expand the Kraken Lithium Pegmatite Swarm in Newfoundland and Initiate Drill Mobilization

    ca.finance.yahoo.com

    Thu., January 6, 2022, 4:14 a.m.·4 min read

    ST. JOHN’S, Newfoundland and Labrador, January 06, 2022--( BUSINESS WIRE)--Sokoman Minerals Corp. (TSXV:SIC) (OTCQB:SICNF) ("Sokoman") and Benton Resources Inc. (TSXV:BEX) ("Benton") together, (the "Alliance") are pleased to announce that the Alliance has received additional assays confirming the discovery of several new parallel lithium-bearing dykes located 200 m - 300 m to the West-Northwest and to the East and Northeast of the main Kraken Pegmatite discovery. The Alliance collected 50 grab samples of which 17 contained significant spodumene grading from 0.23% Li2O to >2.15% Li2O (over limit assaying pending). These samples were collected from various large sub-crop boulders and poorly-exposed dykes ranging from one metre - three metres in width. The Alliance is extremely pleased with the new results and has planned an inaugural diamond drilling program to commence in the coming weeks. In addition, the Alliance will also initiate a large regional till survey along the favourable 60 km-long structural trend which the Alliance controls. The till survey results will assist with targeting and prospecting in early-spring work programs. The Kraken Pegmatites are highly-evolved pegmatite swarms in a geological environment similar to that of other large systems in the Appalachian belt, including the important deposits held by Piedmont Lithium Inc. in the Carolinas, eastern US, as well as in the geologically equivalent Avalonia Project being advanced by Ganfeng Lithium in the Caledonides of Ireland. All samples were submitted to Actlabs in Ancaster, Ontario for analysis by Sodium Peroxide Fusion ICPOES + ICPMS.

    Timothy Froude, P.Geo., President and CEO of Sokoman stated: "We are thrilled with the latest assay results which further expand the Kraken field of lithium-bearing pegmatites. The upcoming drill program will be instrumental in properly valuing the project with a view to potentially spinning out the asset if results are favourable."

    Stephen Stares, President and CEO of Benton stated: "With continued discoveries of additional lithium-bearing dykes, we are very confident that our Alliance has discovered something very special in Newfoundland. We are also very excited to initiate our upcoming maiden drill program, that will assist us in furthering our understanding of the dimensions, size and grade of the main discovery area around the Kraken dyke swarm."

    QP

    This news release has been reviewed and approved by Timothy Froude, P.Geo., President and CEO of Sokoman Minerals Corp., a 'Qualified Person' under National Instrument 43-101.

    COVID-19 Protocols

    To ensure a working environment that protects the health and safety of the staff and contractors, Sokoman and Benton are operating under federally and provincially mandated and recommended guidelines during the current COVID-19 alert level.

    About Sokoman Minerals Corp.

    Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland and Labrador, Canada. Sokoman’s primary focus is its portfolio of gold projects: flagship, 100%-owned Moosehead, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, which is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company also recently entered into a strategic alliance with Benton Resources Inc. through three large-scale joint venture properties including Grey River Gold, Golden Hope and Kepenkeck in Newfoundland. Sokoman now controls independently and through the Benton alliance over 150,000 hectares (>6,000 claims – 1,500 sq. km), making it one of the largest landholders in Newfoundland, Canada’s newest and rapidly-emerging gold districts. The company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project that has Direct Shipping Ore (DSO) potential.

    Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

    About Benton Resources Inc.

    Benton Resources Inc. is a well-funded mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Following a project generation business model, Benton has a diversified, highly-prospective property portfolio of Gold, Silver, Nickel, Copper, Platinum Group Elements and most-recently Lithium assets. In addition, it currently holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains Net Smelter Return (NSR) royalties with potential long-term cash flow.

    Benton also recently entered into a 50/50 strategic alliance with Sokoman Minerals Corp. (TSXV:SIC) through three large-scale, joint-venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland that are now being explored or will be later in 2022.

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

    Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Alliance's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Alliance's prospects, properties and business detailed elsewhere in the Alliance's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Alliance does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Alliance's expectations or projections.

    View source version on businesswire.com: businesswire.com

    Contacts

    CHF Capital Markets
    Cathy Hume, CEO
    416-868-1079 x 251
    cathy@chfir.com

    Sokoman Minerals Corp.
    Timothy Froude, P.Geo., President & CEO
    709-765-1726
    tim@sokomanmineralscorp.com

    Benton Resources Inc.
    Stephen Stares, President & CEO
    807-475-7474
    sstares@bentonresources.ca

    Website: www.sokomanmineralscorp.com; www.bentonresources.ca
    Twitter: @SokomanMinerals; @BentonResources
    Facebook: @SokomanMinerals; @BentonResourcesBEX
    LinkedIn: @SokomanMinerals; @BentonResources

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)


    To: LoneClone who wrote (162610)1/6/2022 2:12:31 PM
    From: LoneClone
       of 169762
     
    Sassy Acquires Drill-Ready Highrock Uranium Project in Key Lake Region of Saskatchewan's Athabasca Basin

    accesswire.com

    Thursday, January 6, 2022 7:45 AM

    VANCOUVER, BC / ACCESSWIRE / January 6, 2022 / Sassy Resources Corporation ("Sassy" or the "Company") (CSE:SASY)(FSE:4E7)(OTCQB:SSYRF) is pleased to announce that it has signed a binding Letter of Intent (the "LOI") to acquire up to 100% of the drill-ready Highrock Uranium Project from Forum Energy Metals Corp. ("Forum"). Cameco's former producing Key Lake mine, which extracted over 200 million pounds of uranium by open-pit methods at an average grade of 2.3% U3O8 from 1983 to 1997, is located immediately to the north of the Highrock claim boundary.

    Mr. Mark Scott, President and CEO of Sassy, commented: "The drill-ready Highrock Project is a potential high impact exploration play that gives Sassy shareholders exposure to a dynamic sector benefiting from the global energy transition driving significant new investment in nuclear demand. This strategic initial foray into uranium makes Sassy the only junior resource company with exploration assets covering Northwest B.C.'s Eskay Camp (home of our flagship Foremore Project), Saskatchewan's Athabasca Basin, and the Central Newfoundland Gold Belt - three world class investor-friendly mining districts that provide a rock-solid foundation for Sassy's immediate and longer-term success."

    Mr. Mark Scott continued, "Given Ian Fraser's geological background in Saskatchewan, and in the uranium sector, combined with the bold Sassy approach that has served us well in our first 16 months as a public company, I'm confident we'll take Highrock to the next level working with a strong technical team at Forum whose work has set the table for a discovery at this property."

    Highrock Highlights:

    • Highrock is situated just outside the Athabasca Basin along the same conductive lithological unit that hosts the Key Lake deposits. The property consists of two claims covering 20 sq. km;
    • The exploration target at Highrock is a basement-hosted deposit similar in style to NexGen Energy's Arrow deposit and Fission Uranium's Triple R deposit;
    • Gravity surveys at Highrock have identified numerous gravity lows, some associated with zones of alteration, along a strong multi-km-long EM defined graphite conductor;
    • Initial drilling by Forum in 2015-2016 defined zones of chloritization, bleaching, elevated boron and other pathfinder elements (some associated with the gravity lows), which are in need of follow-up drilling;
    • Cameco Corporation adjoins Highrock to the east, the upper northwest and along strike to the south. Fission 3.0 has property immediately southeast of Highrock;
    • A 10 to 12-hole drill program totaling approximately 3,000 meters is proposed to test the Highrock target areas in Q1 2022. Permitting, community engagement and procurement processes are underway.
    The Deal:

    • Sassy paid Forum $50,000 cash upon signing of the binding LOI. The LOI between Sassy and Forum describes a staged earn-in under which Sassy will initially acquire a 20% interest in Highrock by paying Forum $50,000 cash, 250,000 Sassy shares (on February 2, 2022, post-Gander Gold date of record for share distribution) and completing $1,000,000 in exploration expenditures during 2022;
    • Sassy can earn an additional 31% interest ( 51% total ) by paying $50,000 cash and 250,000 shares on or about January 2, 2023, and by providing $1,000,000 in exploration funding for 2023;
    • Sassy can earn an additional 19% interest ( 70% total ) by paying $50,000 cash, 250,000 shares on or about January 2, 2024 and providing $1,500,000 in exploration funding for 2024;
    • The final 30% interest in the Property ( 100% total ) may be acquired by Sassy by paying Forum $150,000 in cash and 3,000,000 shares on or before December 31, 2025;
    • In total , to acquire 100% of Highrock , Sassy will pay $350,000 in cash, issue 3,750,000 shares and provide up to $3,500,000 in exploration funding over four years between January 3, 2022, and December 31, 2025. Should the project advance to this stage, Sassy will pay Forum $1,000,000 on delivery of a Feasibility Study and a further $3,000,000 on commencement of commercial production. Forum maintains a 1% NSR on Highrock, half of which (0.5%) can be purchased by Sassy prior to the commencement of commercial production for the sum of $1,000,000. A 1% NSR on the north claim (S-113362) is shared by third parties, half of which (0.5%) may be purchased by Sassy for the sum of $1,000,000. A 2% NSR on the south claim (MC00013262) is held by a third party and at present is not subject to a repurchase clause;
    • Forum Energy Metals will act as project operator for 2022 and 2023 and may do so at Sassy's option in 2024. Permitting and procurement processes are well underway to facilitate 2022 drilling starting as early as February. The parties have agreed to complete a Definitive Option Agreement by January 31, 2022. This Definitive Agreement is subject to customary Board, Exchange and regulatory approvals, as required.
    Highrock Project Map & Area

    Qualified Person

    The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

    Subscribe for Updates

    Visit SassyResources.com and sign up for news alerts to stay informed as exploration continues year-round.

    About Sassy Resources Corporation

    Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal, base metal and uranium projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.'s prolific Golden Triangle, and the Central Newfoundland Gold Belt where Sassy is one of the district's largest landowners through its investment in Gander Gold. The acquisition of the Highrock Uranium Property in Saskatchewan gives Sassy year-round direct exploration opportunities.

    Caution Regarding Forward Looking Statements

    Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes "forward looking information", with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.

    Contact Info:

    Mark Scott
    Chief Executive Officer & Director
    info@sassyresources.ca

    Terry Bramhall
    Sassy Resources - Corporate Communications/IR
    1.604.833.6999 (mobile)
    1.604.675.9985 (office)
    terry.bramhall@sassyresources.ca

    In Europe:
    Michael Adams
    Managing Director - Star Finance GmbH
    info@star-finance.eu

    The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

    SOURCE: Sassy Resources Corporation

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    To: LoneClone who wrote (162611)1/6/2022 2:15:08 PM
    From: LoneClone
       of 169762
     
    Lithium South Outlines 2022 Corporate Plan

    newswire.ca

    Lithium South Development Jan 06, 2022, 08:00 ET

    VANCOUVER, BC, Jan. 6, 2022 /CNW/ -- Lithium South Development Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to provide its shareholders a comprehensive Corporate Plan for 2022.

    Lithium South is focused on the further development of the Hombre Muerto North Lithium Project located in Salta Province, Argentina, on one of the world's premium salars. Work to date has defined a high-quality lithium resource that is the subject of a prior positive Preliminary Economic Assessment filed on August 12, 2019.

    To increase shareholder value, management intends to significantly expand the known resource with a drill program and further pumping wells. In addition, the Company will undertake a Feasibility Study using industry proven conventional evaporation and if warranted, Direct Lithium Extraction technology. Lithium South has approximately CDN$ 18 million in working capital and has an extensive advertising program planned to raise investor awareness by showcasing Lithium South's exploration/development results.

    Resource Expansion

    The HMN Li Project is comprised of 3,287 hectares of which only the 383-hectare Tramo claim block has been drill tested. A recent TEM study has identified significant expansion potential over the balance of the claim blocks and in particular at the 2,089-hectare Alba Sabrina claim block. Drill permissions are expected in January 2022 and road as well as drill pad construction have already been initiated. A camp located near the project, has been contracted to house personnel and a drill contract is expected to be awarded this month.

    Process Development

    The current HMN Li Project resource located at the Tramo claim block is defined as 571,000 measured and indicated tonnes Lithium Carbonate Equivalent at 756 ppm Li, with a low Li to Mg ratio of 2.6:1 as reported on October 3, 2018, in a NI 43-101 report titled Initial Measured Lithium and Potassium Resource Estimate Homre Muerto Project, Salta and Catamarca Provinces, Argentina, by Montgomery and Associates of Santiago Chile, with the author Qualified person Mr. Mike Rosko, M.Sc., C.P.G.

    Eon Minerals of Salta, Argentina is currently performing conventional evaporation test work to produce battery grade lithium carbonate and confirm this industry standard lithium extraction process. In addition, three 2,000-liter bulk samples of this high-quality brine is awaiting laboratory test work by three DLE developers; Chemphys Chengdu located in Sichuan Province, China, Lilac Solutions of Oakland, California, and Eon Minerals of Salta Province, Argentina. Results from both conventional and DLE test work are expected over the coming weeks and will potentially define the optimal process for lithium production at the HMN Li Project.

    Environmental Permitting

    The environmental baseline study being conducted by EC & Asociados of Salta, Argentina, has moved into Phase II. The dry season study has been completed and the wet season study is nearing completion. The environmental base line study will fulfill requirements under the General Environmental Law, Mining Code No. 24.585. In addition, the Company is completing a social study of the area. Management is taking a pro-active approach to permitting in anticipation of future project exploration success.

    Company President Adrian F.C. Hobkirk is quoted, "Our Company is approaching 2022 with the goal of increasing our high-quality lithium resource and completing a project Feasibility Study. Lithium South is well financed to complete these objectives at a time of record high lithium carbonate prices. "

    About Lithium South

    Lithium South is focused on developing the Hombre Muerto North Lithium Project (HMN Li Project), located on the Hombre Muerto Salar, a major lithium-producing salar in Argentina. The property is adjacent to land under development by the Korean multinational corporation POSCO, which acquired the ground from Galaxy Resources Ltd. for US $280 million. The Company completed a Preliminary Economic Assessment of the HMN Li Project in 2019, utilizing conventional evaporation extraction.

    The Company is evaluating conventional evaporation as a process method, and Direct Lithium Extraction (DLE) as an alternative method. In addition, the Company is planning to potentially expand the known resource by drilling various areas of interest identified in a recent TEM survey. The Company is awaiting approval of drill permits currently under review by the Mining Secretariat in Salta, Argentina.

    This news release has been reviewed and approved by Marcela Casini, advisor to the Company and a Qualified Person as that term is defined in National Instrument 43-101.

    On behalf of the Board of Directors

    Adrian F. C. Hobkirk
    President and Chief Executive Officer
    Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.

    This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.

    SOURCE Lithium South Development

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)


    To: LoneClone who wrote (162612)1/6/2022 2:16:50 PM
    From: LoneClone
       of 169762
     
    Baselode Reports Additional High-Grade Uranium Intersections from ACKIO Discovery

    newswire.ca

    Baselode Energy Corp. Jan 06, 2022, 06:00 ET

    TORONTO, Jan. 6, 2022 /CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to report the final Uranium assay results from the recently completed diamond drill program on the ACKIO Uranium discovery ("ACKIO"), Hook project ("Hook"), Athabasca Basin area, northern Saskatchewan.

    Highlights include:

    • A second drill hole confirms high-grade* Uranium at ACKIO; 0.67 wt% U3O8 over 0.5 m at 131.6 m in AK21-03
    • Elevated uranium concentrations of 0.24 wt% U3O8 over 5.5 m at 128.6 m in AK21-03 and 0.24 wt% U3O8 over 2.0 m at 99.0 m in AK21-04
    • Multiple Uranium intersections occurring within 200 m of the surface
    "We are very encouraged by intersecting near-surface, high-grade Uranium mineralization in two drill holes from our first drill program at the ACKIO discovery. The Uranium results from drill holes AK21-01, AK21-03 and AK21-04 demonstrate that ACKIO is part of a robust and fertile Uranium system, with multiple Uranium occurrences intersected throughout the drill hole lengths. Our main Uranium intersections from drill holes AK21-01 through AK21-04 occur between 90 and 125 m below surface and cover a lateral distance measuring approximately 45 m. Our follow-up drill program is only weeks away and we're excited to see what we'll be able to uncover," said James Sykes, CEO, President and Director of Baselode.

    The Company has prepared a quick video presentation for shareholders and the public to learn more about these Uranium results (see link below). Additional video presentations will be released in the coming days and weeks to provide details regarding the interpretation of massive alteration halo, the structures observed at ACKIO, and other topics of interest relating to ACKIO and Hook. Complete Ackio drill results are published in Table 1, along with a cross-section in Figure 1 below.

    VIEW BASELODE'S WEBINAR: More Uranium Mineralization from Ackio




    NOTES:


    * Baselode considers "high-grade" to be uranium mineralization with a concentration greater than 0.5 wt% U3O8


    1. All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.







    TABLE 1: ACKIO TARGET, HOOK PROJECT - SUMMER 2021 DRILL HOLE U3O8 ASSAY RESULTS



    DDH

    Target
    Area


    Az*

    Dip

    EOH* (m)

    Easting

    Northing

    Elevation


    AK21-02

    ACKIO

    270

    -85

    42.0

    526,245

    6,372,955

    468





    Drill hole abandoned - No significant results











    AK21-02A

    ACKIO

    270

    -85

    357.0

    526,245

    6,372,955

    468





    No significant results











    AK21-03

    ACKIO

    270

    -48

    360.0

    526,245

    6,372,955

    468





    From (m)

    To (m)

    Interval
    (m)


    **Vertical
    Depth (m)


    U3O8
    (wt%)






    128.60

    134.10

    5.50

    90.00

    0.24




    includes

    131.60

    132.10

    0.50

    95.00

    0.67





    142.60

    143.60

    1.00

    115.00

    0.06





    248.10

    250.10

    2.00

    175.00

    0.11





    267.40

    267.90

    0.50

    185.00

    0.06





    273.40

    273.90

    0.50

    190.00

    0.05





    277.40

    278.40

    1.00

    200.00

    0.06





    0.05 wt% U3O8
    Composite Total



    10.50


    0.16











    AK21-04

    ACKIO

    270

    -90

    381.0

    526,139

    6,372,955

    467





    From (m)

    To (m)

    Interval
    (m)


    **Vertical
    Depth (m)


    U3O8
    (wt%)






    95.50

    96.50

    1.00

    95.00

    0.17





    99.00

    101.00

    2.00

    100.00

    0.24





    103.50

    104.00

    0.50

    105.00

    0.05





    105.50

    106.00

    0.50

    105.00

    0.07





    168.00

    169.00

    1.00

    170.00

    0.08





    253.80

    254.30

    0.50

    255.00

    0.07





    0.05 wt% U3O8
    Composite Total



    5.50


    0.15











    Results for AK21-01 were reported December 3, 2021. They are provided below for context


    DDH

    Target
    Area


    Az*

    Dip

    EOH*
    (m)


    Easting

    Northing

    Elevation


    AK21-01

    ACKIO

    270

    -60

    471.0

    526,245

    6,372,955

    467





    From (m)

    To (m)

    Interval
    (m)


    **Vertical
    Depth (m)


    U3O8
    (wt%)






    126.80

    128.80

    2.00

    110.00

    0.05





    130.30

    130.80

    0.50

    110.00

    0.06





    134.30

    149.80

    15.50

    115.00

    0.13




    includes

    138.80

    139.30

    0.50

    120.00

    1.29




    and

    142.30

    142.80

    0.50

    120.00

    0.66





    284.60

    285.80

    1.20

    245.00

    0.06





    366.70

    367.70

    1.00

    315.00

    0.05





    368.80

    369.20

    0.40

    315.00

    0.06


    Cut-off grade = 0.05 wt% U3O8, cut-off grade for AK21-01 = 0.045 wt% U3O8

    Maximum consecutive internal dilution = 2.0 m down hole

    True widths have yet to be determined

    *"DDH" refers to "diamond drill hole", "Az" refers to "drill hole azimuth" and "EOH" refers to "End of Hole"

    "Easting", "Northing" are both measured in metres, NAD83 Datum, UTM Zone 13N

    "Elevation" is presented as "metres above sea level"

    **"Vertical Depth" is presented as "metres below surface", the value is rounded to the nearest 5.0 m




    CLICK HERE FOR FIGURE 1: Cross-section schematic for drill holes AK21-01 to AK21-04

    About Baselode Energy Corp.

    Baselode currently controls 100% of approximately 227,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

    Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.

    QP Statement
    The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

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

    Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no 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 securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedar.com.

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

    SOURCE Baselode Energy Corp.

    For further information: Baselode Energy Corp., FIND on the TSXV, James Sykes, CEO, President and Director, jsykes@uraniumgeologist.com, 306-221-8717, www.baselode.com

    Related Links baselode.com

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