| To: LoneClone who wrote (3394) | 10/1/2024 2:03:12 PM | | From: LoneClone | | | | Golden Lake Commences Drilling On Its Jewel Ridge Property In The Battle Mountain-Eureka Gold Belt, Eureka County, Nevada
ca.finance.yahoo.com
Golden Lake Exploration Inc.
Mon, September 30, 2024 at 5:00 a.m. PDT·2 min read
GOLXF
+9.76%
VANCOUVER, BC / ACCESSWIRE / September 30, 2024 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) ("Golden Lake" or the "Company") is pleased to announce that it has commenced drilling on its flagship Jewel Ridge property (the "Property"), located in the prolific Battle Mountain-Eureka gold trend of Nevada.
The Property is well-located proximal to infrastructure and is immediately adjacent to successful, high-profile exploration programs currently being undertaken by North Peak Resources Ltd. & i-80 Gold Corp. (IAU.TO), on their neighboring Prospect Mountain and Ruby Hill properties, respectively.
Drill Program
HD Drilling Services, based out of Winnemucca, Nevada, has been retained by the Company to complete the 1,700-meter drill program. The program will consist of 4 to 5 high-priority drill targets and is anticipated to take 2 to 3 weeks to complete.
These high-priority drill targets include Induced Polarization (IP) anomalies generated from 2024 surveys situated within favorable geological & structural settings. Such settings host both Carlin-type disseminated gold deposits and carbonate replacement deposits, which are prominent in the immediate area of the South Eureka Gold Belt, where the Jewel Ridge property is located. Other targets include historic mines yielding high precious and base-metal assays, largely exploited at shallow depth that have seen no historic drilling.
Full details of the drill targets can be found on the Golden Lake website at www.goldenlakex.com. Drill results will be released as they become available.
Qualified person
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Don Hoy, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
About Golden Lake Exploration Inc
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
Further to the Company's news release of September 13th, 2024, announcing the closing of an oversubscribed private placement, an additional arm's length finder was compensated with finder's fees of $4,600 cash and 92,000 non-transferable finder's warrants. Each finder's Warrant will entitle the finder to purchase one Warrant Share of the Company for a 12-month period after the Closing Date at an exercise price of $0.07 per share.
On Behalf of the Board,
Mike England
CEO, President & Director
For Further Information Please Contact:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Email: info@goldenlakex.com
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Golden Lake Exploration Inc. |
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| To: LoneClone who wrote (3395) | 10/3/2024 1:49:56 PM | | From: LoneClone | | | | Borealis Completes Second Gold Pour of 2024 and Lists on Frankfurt Stock Exchange
newsfilecorp.com
October 03, 2024 4:45 AM EDT | Source: Borealis Mining Company Limited
Vancouver, British Columbia--(Newsfile Corp. - October 3, 2024) - Borealis Mining Company Limited (TSXV: BOGO) (FSE: L4B0) (the "Company" or "Borealis") is pleased to announce that it has completed its second gold pour of 2024 at its on-site ADR facility. This was achieved through the stripping of the Company's 10 carbon columns loaded from residual leaching with a highly dilute cyanide solution. This was the last of the residual leaching from the past year with subsequent pours to be derived from previously un-leached ore.
The second pour resulted in doré bars weighing a total of ~1,625 troy ounces containing 14.116% Au and 9.954% Ag, as determined by an independent assay of a pin sample, for approximately 229 troy ounces of gold and 162 troy ounces of silver. Borealis has begun introducing fresh cyanide to a section of the leach pad which has previously not been leached, which should result in a higher gold percentage doré compared to the doré from residual leaching. Please see Figure 1 for a photo of the doré bars from the recent pour.
Kelly Malcolm, CEO of Borealis, comments "Borealis continues to generate meaningful revenue through residual leaching of our existing permitted heap leach pads. We have begun treating the balance of our leach pad with fresh cyanide and expect to increase the frequency and gold content of our pours. With gold prices at all-time highs, our internal engineering and geology teams are hard at work with outside consultants to develop a mine restart plan at our fully permitted and fully built Borealis Mine in Nevada. I'm also excited about our new listing on the Frankfurt Stock Exchange, which coupled with several investor awareness programs, which will allow European investors easier access to Borealis common shares and broaden our investment audience."
The Company is also pleased to announce that it has recently listed its common shares on the Frankfurt Stock Exchange under the symbol L4B0.
The Company has engaged Plutus Invest & Consulting GmbH ("Plutus") to provide strategic consulting services focused on market analysis and financial advisory to support Borealis' business initiatives. The services will commence upon the effective date of the agreement and continue for a period of six months. The Company will compensate Plutus with a cash fee of CAD$125,000, payable at the commencement of the services. There are no performance factors contained in the agreement and Plutus will not receive any securities from the Company as compensation for the services it will render. None of Plutus nor its affiliates or associates has any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. The Company and Plutus are not related parties and have no other agreements other than the agreement. The engagement of Plutus by the Company is subject to approval of the TSX Venture Exchange.
The Company has engaged KE Report ("KE") to provide the Company with web content and radio content services. The services will commence upon the effective date of the agreement for a period of six months. The Company will compensate KE with a cash fee of CAD$12,000. There are no performance factors contained in the agreement and KE will not receive any securities from the Company as compensation for the services it will render. None of KE nor its affiliates or associates has any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. The Company and KE are not related parties and have no other agreements other than the agreement. The engagement of KE by the Company is subject to approval of the TSX Venture Exchange.
The Company has engaged Junior Mining Media Inc. ("JMM") to provide the Company with digital content creation services. The services will commence upon the effective date of the agreement for an initial period of one year. The Company will compensate JMM with a cash fee of USD$24,000. There are no performance factors contained in the agreement and JMM will not receive any securities from the Company as compensation for the services it will render. None of JMM nor its affiliates or associates has any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. The Company and JMM are not related parties and have no other agreements other than the agreement. The engagement of JMM by the Company is subject to approval of the TSX Venture Exchange.
Borealis is also actively engaging with investors at upcoming conferences and roadshows, as detailed below.
Upcoming Investor Conferences and Events
October 16-17: Red Cloud's Fall Mining Showcase, Toronto
October 22-25: European Roadshow (Frankfurt, Vienna, Salzburg, Zurich)
October 29-31: IMARC 2024, Sydney
November 11-12: Precious Metals Summit, Zurich
Figure 1: Doré bars containing gold and silver from Borealis' second pour of 2024
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
Qualified Person
The scientific and technical content of this news release was reviewed, verified, and approved by Kelly Malcolm, P.Geo., Chief Executive Officer of the Company, and a Qualified Person as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Borealis Mine
The Borealis mine property, located close to the town of Hawthorne, NV, is fully permitted and equipped for present mine operations and future expansion, with existing open pits, heap leach pads, modern infrastructure, and a functional ADR facility which produces doré bars. The project has historically produced over 600,000 ounces of gold from an open pit heap leach operation. It is an under-explored property and has not been drilled since 2011. The property possesses high grade expansion potential with excellent historical drilling results, along with a number of untested regional targets.
About Borealis
Borealis is a gold mining and exploration company focused on exploration and resumption of production of the Borealis Mine in Nevada. The Borealis Mine is a fully permitted minesite, equipped with active heap leach pads, an ADR facility, and all necessary infrastructure to support a heap leach gold mining operation. In addition to the mine, the property, comprised of 751 unpatented mining claims of approximately 20 acres each totalling approximately 15,020 acres and one unpatented mill site claim of about five acres located in western Nevada, is highly prospective for additional high-sulfidation gold mineralization. Borealis is led by a strong board and management team, many of whom have founded, managed, and sold highly successful mining and exploration companies.
For further information, please contact:
Kelly Malcolm
President and Chief Executive Officer
Email: info@BorealisMining.com
Tel: (289) 371-3371
This news release may contain certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 SOURCE: Borealis Mining Company Limited |
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| To: LoneClone who wrote (3396) | 10/3/2024 2:04:06 PM | | From: LoneClone | | | | NEVADA KING IDENTIFIES SEVEN ADDITIONAL HIGH-PRIORITY DRILL-READY REGIONAL EXPLORATION TARGETS
prnewswire.com
Nevada King Gold Corp. Oct 03, 2024, 07:30 ET
VANCOUVER, BC, Oct. 3, 2024 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTC: NKGFF) ("Nevada King" or the "Company") is pleased to announce the identification of seven additional regional targets that will be tested by the Company's upcoming Phase III drill campaign at its 5,166 hectares (51.6km2), 100%-owned Atlanta Gold Mine Project along the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada. Today's targets follow the recent announcement by the Company of five high-priority regional exploration targets located north and east of the Atlanta resource ( September 17, 2024 release).
Figure 1. Aerial view looking west at the Atlanta Pit with the seven newly identified regional targets stretching westward along a major, gravity-inferred basement structure. Green dots indicate historical drill holes within and around target areas. (CNW Group/Nevada King Gold Corp.)
Figure 2. Area of regional targets discussed today in relation to the Atlanta property outline and major basement faults largely inferred from geophysical data. These new targets cover the western part of the Atlanta Caldera and are continuous along a major, east-west structural axis with regional targets previously released. (CNW Group/Nevada King Gold Corp.)
Figure 3. CSAMT Section 9 looking north showing resistivity profile and corresponding regional targets across western part of the Atlanta Caldera. “Hot” colors indicate Low resistivity zone. “Cold” colors show high resistivity zones. Low resistivity intrusive plumes (orange to magenta colors) are likely responsible for providing conduits for mineralizing fluids upward through dense basement rocks (blue color). Intrusive apical zones indicate areas where mineralization might be close to surface. (CNW Group/Nevada King Gold Corp.)
Figure 4. CSAMT Section 14 looking north showing resistivity profile and corresponding regional targets across western part of the Atlanta Caldera. “Hot” colors indicate low resistivity zones. “Cold” colors show high resistivity zones. Low resistivity intrusive plumes (orange to magenta colors) are likely responsible for providing conduits for mineralizing fluids upward through dense basement rocks (blue color). Intrusive apical zones indicate areas where mineralization might be close to surface (CNW Group/Nevada King Gold Corp.)
Highlights:
- The Outlaw, Mustang, Corral, Silver Park East and Silver Park West, Rangefront, and Western Knolls Targets make up a combined 6.6km2 footprint and are located west and southwest of the historical Atlanta pit (Figure 1). These seven target areas are clustered along a major east-west basement lineament (Figure 2) that is contiguous with the current resource zone and with the Wild West Target where hole AT24WS-83 returned 4.67 g/t Au over 42.7m, including 7.94 g/t Au over 18.3m ( released August 19, 2024).
- As shown in Figure 2, the low resistivity targets (particularly Outlaw, Mustang, and Silver Park West) are aligned along a west-trending deep basement fault interpreted from gravity data, with apical intrusive zones occurring at structural intersection points. This deep gravity-inferred fault projects eastward through the centre of the Wild West Target and into the resource zone where it connects to the North Fault, which is an important structural control associated with high-grade mineralization immediately northwest of the pit. Both Nevada King holes AT23WS-44 (11.64 g/t Au over 108.2m, including 37.16 g/t Au over 29.0m ( released October 2, 2023) and AT24WS-83 (4.67 g/t Au over 42.7m) occur along this trend.
- Also noted on Figure 2 are two elliptical, deep gravity and magnetic anomalies interpreted as granitic stocks between 3,000m and 4,000m in diameter, both starting about 1,000m below the present surface. The body indicated as the Atlanta Stock underlies the centre of the Atlanta Caldera while the Ryan Springs Stock is more or less centred beneath the Ryan Springs Caldera. Formation of the Atlanta Caldera is related to gold/silver mineralization throughout the Atlanta District and is post-dated by non-mineralized Ryan Springs Caldera volcanics. It is important to note the semi-circular arrangement of Targets 6-14 around the margin of the Atlanta Stock, as this roughly defines the region in which additional mineralization might be found, while structural intersections within this region can provide favorable loci for metals concentration, particularly when they coincide with apical low-resistivity zones.
- Putting these various geological relationships together, we now have a good district-scale exploration model to pursue with our upcoming Phase III drilling program. The Atlanta stock likely produced the shallow intrusive rocks and associated Au-Ag bearing fluids responsible for mineralizing the Atlanta resource zone, East Ridge Target ("ERT"), and northern end of the South Quartzite Ridge Target ("SQRT"). Deep basement faults cutting into and around the stock's margin served as conduits for intrusions and metal-bearing hydrothermal fluids that moved upward and outward into rocks surrounding the stock's periphery where lower temperature/pressure conditions are more conducive for Au/Ag precipitation. Targets west of the Atlanta resource zone are therefore clustered around the stock perimeter where mineralization could be localized along and/or adjacent to major basement structures like the west-trending gravity structure tying the North Fault to Silver Park West, and the NW-trending gravity structure that runs through the Wild West Target and down the axial plane of the SQRT.
- Mineralization can be expected to occur within a variety of host environments:
- Within volcanic, volcaniclastic, and shallow intrusive rocks occurring around the edges of the caldera moat, like at the West Atlanta Graben Zone.
- Along the strongly brecciated and silicified, low-angle unconformity separating Paleozoic basement quartzite and dolomite from overlying Tertiary volcanics and sediments, as we see throughout the Atlanta resource zone.
- Within shallow felsic intrusions cutting up through massive dolomite and along the silicified and brecciated intrusive contacts, as occurs in the ERT.
- Within shallow intrusions trapped beneath impermeable basement rocks, as is the case at the northern end of the SQRT.
- Today's regional targets are largely buried by alluvium, post-mineral volcanics, and younger caldera moat sediments. Seven historical reverse circulation ("RC") holes were drilled within and around several of the targets, but four tested un-mineralized dolomite in the Silver Park historical mining area, while the other three did not go deep enough through volcanic cover to get into potential mineralization at the unconformable contact with the Paleozoic basement. However, several of these historical holes did encounter weak gold mineralization that the Company is planning to further pursue with an eye on encountering higher-grades and thicker mineralization in the vicinity. A more detailed description of each of the targets can be found in the Target Description section below.
Cal Herron, Exploration Manager of Nevada King, commented, "The seven new targets described today are more closely associated with intra-caldera structural and volcanic features than are the five targets located east and north of the Atlanta pit ( released September 17, 2024). All of the targets are closely associated with low resistivity zones that are most likely related to shallow intrusive activity, but these seven western targets are proximal to deep, inferred granitic intrusions (stocks) probably responsible for the volcanic calderas above them, and at least with regard to the Atlanta Stock, also responsible for gold mineralization within the Atlanta District. Proximity to an igneous stock is a common theme in many large Nevada gold deposits, so this proximity seen at Atlanta is a favourable sign, particularly given the intersecting, deep structural faults also associated with these targets. Add to this the west-trending gravity-inferred fault that lines up with the Silver Park, Outlaw, Mustang, and Wild West Targets tied to high-grade mineralization along the North Fault, and we have a compelling story.
"The learning curve at Atlanta has been exceptionally steep since drilling our first hole in 2021 and, almost without fail, every succeeding hole drilled since has provided us with new, and often pleasant surprises, including new insights into the various mineralizing processes responsible for forming the Atlanta resource zone. The Phase I and Phase II drilling programs have been a continual learning process that have now allowed us to finally see the slope on our learning curve start to shallow. Our increased understanding of the different types of gold mineralization and their respective controls gives us an ability to reliably integrate our knowledge of how the Atlanta deposit formed with other powerful exploration "tools" such as the detailed geophysical and geochemical data collected across the entire Atlanta Caldera – which is still being collected today. We are now much better equipped to find new mineralized zones throughout the Atlanta District with our upcoming Phase III drilling program, as evidenced by recent discoveries in the Wild West Zone, at the northern end of the SQRT, and up on the ERT."
Target Descriptions
Outlaw and Mustang Targets (#9 and #10)
The Outlaw and Mustang targets are located immediately west of the Wild West Target and Atlanta Resource Zone along the shared, west-trending basement fault inferred from gravity data. These two targets coincide with localized, low-resistivity zones that are divided by a narrow, northerly trending horst block consisting of strongly resistive dolomite (Figures 3 and 4). Both zones occur on the SE margin of the inferred Atlanta Stock within an intersecting network of faults interpreted from gravity, magnetic, and CSAMT datasets. Cordex drilled a 178m RC hole at the northern end of the Outlaw Target in 2000 but stayed in unaltered volcanic tuff that generally overlies the mineralized volcanic section seen in the Atlanta resource zone. Nevada King's planned drill holes are sited to test for a westward continuation of the Wild West Zone along the major gravity-inferred fault that lines up with the high-grade North Fault within the resource zone. Both targets are completely covered by post-mineral volcanics, alluvium, and mill tailings, so the in-progress Phase 3 CSAMT survey will add more definition prior to initiating new drilling.
Corral Target (#11)
Located along the main county road 1,250m SW of the Atlanta Pit, the Corral Target coincides with a shallow low-resistivity zone related to a variably silicified, heterolithic phreatic explosion breccia that intruded Lower Ordovician age Pogonip Limestone and Eureka Quartzite. About 24 historical holes were drilled by Kinross and Goldfields immediately south of the target, testing weakly silicified and anomalous Pogonip Limestone, looking for another Archimedes or Long Canyon type gold deposit. These holes were generally barren of mineralization, although three holes close to the southern margin of the Corral Target did pick up discreet intervals of 0.23 g/t Au over intercept lengths ranging from 6m to 18m in both the Pogonip Limestone and adjacent silicified breccia. The mineralization vectors from these 24 historical holes point northward toward the 600m x 400m low resistivity zone where Nevada King has planned three holes for its next exploration phase. The target is completely covered by alluvium and post-mineral volcanics, so the Phase 3 CSAMT survey currently underway will provide better target definition.
Silver Park Targets (#12 and #13)
The Silver Park area is located 2,800m west of the Atlanta Pit and was historically mined for silver in the early to mid-1900s and later drill-tested by Goldfields in 1990. Silver mineralization is largely supergene and typically occurs along the unconformity separating massive Ely Springs Dolomite from an overlying, variably silicified and argillized, porphyritic rhyolite flow-dome or sill that is itself overlain by felsic tuff and epiclastic sediments belonging to the Atlanta Caldera moat sequence. Nevada King recently acquired three patented mining claims covering the old silver workings ( released September 12, 2024). Immediately adjacent to these patented claims, soil and rock sampling did pick up weak Au-As anomalies in silicified-argillized rhyolite domes and their surrounding fragmental blankets. Subsequent Phase I and II CSAMT surveys identified two, discreet, low-resistivity zones separated by an uplifted dolomite horst block (Figure 3). The western target is bounded on its west side by a major volcanic and intrusive-filled basin, while the eastern target is similarly bounded on its east side. Three historical holes from 90m to 130m deep were drilled in 1990 by Goldfields, two in the eastern target and one in the western target. One of the eastern target holes hit 3.3m @ 0.22 g/t Au at the Tertiary-Paleozoic unconformity, while the western hole returned 3.3m @ 0.34 g/t Au at a fault contact between massive dolomite and an argillized rhyodacite intrusion. The silver to gold ratio in both holes is very low, more like what we see at Atlanta, whereas the mineralization historically mined at Silver Park had a very high silver-to-gold ratio, so we are looking at two very different types of mineralization. The Company's drill strategy for the Silver Park East Target involves following the unconformity-related mineralization along strike and down-dip to the NE into areas that could potentially host thicker and higher-grade mineralization like we see along the Atlanta Mine Fault Zone and in the North Extension Zone, 600m north of the Atlanta Pit. The drill strategy for Silver Park West involves following the high angle faults northward underneath the caldera moat and southward under post-mineral cover, testing the strong, low resistivity zone seen in Figure 3.
Rangefront and Western Knolls Targets (#14 and #15)
The Rangefront and Western Knolls Targets cover roughly 3km in diameter and are located along the western margin of the Atlanta Caldera about 5.6km due west of the Atlanta resource zone (Figure 2). The area was mapped and surface sampled in detail by Meadow Bay in 2013-2015, which resulted in two RC holes being drilled at the area's northern end, one of which returned 0.105 g/t Au over 16.7m while the other reported 0.148 g/t Au over 7.6m – both intercepts in felsic tuff. The central portion of these targets hosting most of the historical work consists of rhyolitic to dacitic domes and large dikes surrounded by fragmental blankets and epiclastic sediments. Hydrothermal alteration in all lithotypes generally consists of weak silicification, weak to moderate argillic, and weak propylitic. Gold mineralization in outcrop ranges up to 2 g/t but is more commonly in the <0.003ppb to 50ppb range. Other anomalous metals include silver, arsenic, mercury, antimony, and molybdenum. The Company's CSAMT data highlights two, shallow low-resistivity zones related to major north trending faults that flank the central portion on the eastern and western sides (Figures 3 and 4). The Rangefront Target occurs above and adjacent to what looks like a 300m-wide vertical intrusive plume that is covered by alluvium and weakly propylitized fragmental tuff and epiclastic sediments (moat sequence). Weak Au mineralization with anomalous As and Mo was picked up in soil and rock samples collected from propylitized outcrops above the target. Rangefront is located within the Atlanta caldera, while the Western Knolls target appears to occur immediately west of the caldera margin, perhaps within an adjacent caldera or large volcanic graben forming Lake Valley. Western Knolls coincides with a major, northerly-trending fault that separates a gravity high on the east from a strong gravity low on the west and appears to be a major regional structure. The target is almost completely covered by alluvium. The in-progress Phase 3 CSAMT survey will add more definition to both target areas and provide a better idea of potential deposit types to pursue.
QA/QC Protocols
All RC samples from the Atlanta Project are split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. CRF standards, blanks, and duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates directly to American Assay Lab in Reno, Nevada, with full custody being maintained at all times. At American Assay Lab, samples were weighted then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns in order to produce a 300g pulverized split. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Calvin R. Herron, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101").
About Nevada King Gold Corp.
The Atlanta Mine is a historical gold-silver producer with a NI 43-101 compliant pit-constrained resource of 460,000 oz Au in the measured and indicated category (11.0M tonnes at 1.3 g/t) plus an inferred resource of 142,000 oz Au (5.3M tonnes at 0.83 g/t). See the NI 43-101 Technical Report on Resources titled "Atlanta Property, Lincoln County, NV" with an effective date of October 6, 2020, and a report date of December 22, 2020, as prepared by Gustavson Associates and filed under the Company's profile on SEDAR+ ( www.sedarplus.ca).
Resource Category
| Tonnes
(000s)
| Au Grade
(ppm)
| Contained Au
Oz
| Ag Grade
(ppm
| Contained Ag
Oz
| Measured
| 4,130
| 1.51
| 200,000
| 14.0
| 1,860,000
| Indicated
| 6,910
| 1.17
| 260,000
| 10.6
| 2,360,000
| Measured + Indicated
| 11,000
| 1.30
| 460,000
| 11.9
| 4,220,000
| Inferred
| 5,310
| 0.83
| 142,000
| 7.3
| 1,240,000
| Table 1. NI 43-101 Mineral Resources at the Atlanta Mine
|
Please see the Company's website at www.nevadaking.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Nevada King, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans and the Company's ability to potentially expand mineral resources and the impact thereon. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
SOURCE Nevada King Gold Corp. |
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| To: LoneClone who wrote (3397) | 10/4/2024 1:53:02 PM | | From: LoneClone | | | | Hycroft Expands Vortex - Encounters Significant Silver and Gold
Drilling extends Vortex west ~100 meters
Multiple intervals exceeding 1000 g/t silver
Significant gold intercepts being encountered
prnewswire.com
Hycroft Mining Holding Corporation Oct 03, 2024, 08:00 ET
WINNEMUCCA, Nev., Oct. 3, 2024 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company") announces additional drill results from the 2024 exploration drill program (the "Drill Program") at the Hycroft Mine, located in Nevada, a Tier-1 mining jurisdiction.
Webinar
2024 Wireframe (green) denoting increased mineralization (gray) from these results
For additional context on this news release, join President and CEO Diane R. Garrett and Alex Davidson, V.P. Exploration for a live webinar today, October 3rd at 5pm ET/2pm PT. Click here to register.
Highlights from the drilling include:
- Drill results extend Vortex mineralization approximately 100 meters to the west and to the south
- Encountering elevated gold ("Au") intercepts (including 1.5 meters of 4.78 g/t) in the silver ("Ag") dominant Vortex trend
- Potential feeder zone at Vortex identified
- Results demonstrating continuity of both high-grade silver and gold
- Vortex remains open in all directions and at depth
Vortex drill highlights:
•
| H24D-6001:
| 124.4 meters of 102.59 g/t Ag and 0.95 g/t Au (2.28 AuEq)
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| Including:
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| •
| 2.8 meters of 40.85 g/t Ag and 7.38 g/t Au. (7.90 g/t AuEq)
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| •
| 14.2 meters of 77.34 g/t Ag and 2.13 g/t Au (3.13 g/t AuEq)
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| •
| 38.6 meters of 134.25 g/t Ag and 0.71 g/t Au (2.44 g/t Au Eq)
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| •
| 0.3 meters of 4,170.00 g/t Ag and 0.03 g/t Au (53.80 g/t AuEq)
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|
| •
| 8.9 meters of 475.56 g/t Ag and 0.31 g/t Au (6.44 g/t AuEq)
|
|
|
| •
| 0.7 meters of 1,700.00 g/t Ag and 0.42 g/t Au (22.34 g/t AuEq)
|
|
|
| •
| 1.4 meters of 1,538.78 g/t Ag and 0.34 g/t Au (20.19 g/t AuEq)
|
|
|
|
|
| •
| H24D-6002:
| 100.92 meters of 100.65 g/t Ag and 0.38 g/t Au (1.68 g/t AuEq)
|
|
| Including:
|
|
|
| •
| 20.4 meters of 357.01 g/t Ag and 0.83 g/t Au (5.43 g/t AuEq)
|
|
|
| •
| 4.6 meters of 1,066.47 g/t Ag and 1.59 g/t Au (15.34 g/t AuEq)
|
|
|
| •
| 0.5 meters of 3,310.00 g/t Ag and 5.90 g/t Au (48.58 g/t AuEq)
|
|
|
|
|
| •
| H24D-6005:
| 222.4 meters of 32.38 g/t Ag and 0.45 g/t Au (0.86 g/t AuEq)
|
|
| Including:
|
|
|
| •
| 10 meters of 328.25 g/t Ag and 0.34 g/t Au (4.57 g/t AuEq)
|
|
|
| •
| 1.7 meters of 1,155.27 g/t Ag and 0.94 g/t Au (15.84 g/t AuEq)
|
|
| 19 meters of 142.14 g/t Ag and 0.37 g/t Au (2.21 g/t AuEq)
|
|
| Including:
|
|
|
| •
| 0.3 meters of 6,260.00 g/t Ag and 0.06 g/t Au (80.78 g/t AuEq)
|
|
| 4.9 meters of 170.25 g/t Ag and 0.31 g/t Au (2.50 g/t AuEq)
|
|
|
| •
| H24D-6006:
| Assays pending
| •
| H24D-6007:
| 69 meters of 108.38 g/t Ag and 0.57 g/t Au (1.97 g/t AuEq)
|
|
| Including:
|
|
|
| •
| 40.7 meters of 144.20 g/t Ag and 0.70 g/t Au (2.6 g/t AuEq)
|
|
|
| •
| 2.5 meters of 645.30 g/t Ag and 0.70 g/t Au (9.0 g/t AuEq)
|
|
|
| •
| 0.5 meters of 1,430.00 g/t Ag and 1.20 g/t Au (19.6 g/t AuEq)
|
|
|
| •
| 1.5 meters of 960.00 g/t Ag and 4.80 g/t Au (17.2 g/t AuEq)– top of target zone
|
|
|
|
|
| o
| Hole was lost at the top of the target zone, follow-up drilling planned
|
Alex Davidson, Vice President, Exploration commented: "We are very pleased with the assay results from the Vortex - Camel high-grade silver dominant trend. The drilling was designed to test the west dipping low angle structures responsible for brecciation that is allowing for the significant mineralization at Vortex. This new drilling not only adds significantly to the known high-grade silver mineralization by extending Vortex to the west and south, but also vertically ties together what were previously considered to be discrete zones of high-grade. Furthermore, the drilling contributes significantly to our understanding of how these low angle structures open exploration potential to the east of the current resource."
Holes 6001 and 6002 were designed to test continuity of more than 150 meters of spacing between holes drilled in 2023 and to test downdip extensions of Vortex. Both objectives were achieved in growing Vortex vertically as well as extending laterally, confirming the system continues to remain open in all directions and at depth.
Hole 6007 targeted the farthest western extension of the Vortex trend. The intercept from this hole extends mineralization past the current resource to the west by approximately 100 meters. Additionally, 6007 targeted a potential feeder zone for Vortex mineralization, based on a large area of native sulfur mapped near the surface above the target an indicator of a zone of high fluid flow. Unfortunately, the hole was lost in the top of the target zone where it intersected 1.5 meters of 950 g/t silver and 4.78 g/t gold. Follow up drilling is planned for 2024.
Hole 6000 was lost in a fault zone but not before encountering mineralization from 71 meters to over 300 meters at depth. The hole will be re-entered at a future date.
Assays are pending for the Brimstone high-grade trend (Holes 6003, 6004, 6009 – 6012).
Table 1.
Significant intercepts from 2024 Drill Program, Vortex
Gold Equivalent ("AuEq") is calculated at a gold-to-silver ratio of 77.55:1 (based on $1900 gold and $24.50 silver)
Hole ID
| FROM
| TO
| INTERVAL
| GRADE
| (meters)
| (meters)
| (meters)
| Ag (g/t)
| Au (g/t)
| AuEQ (g/t)
| Vortex
| H24D-6000
| 71.75
| 102.26
| 30.51
| 13.80
| 0.64
| 0.82
|
| 272.00
| 318.82
| 46.82
| 18.12
| 0.69
| 0.92
|
|
|
|
|
|
|
| H24D-6001
| 189.31
| 224.58
| 35.27
| 6.32
| 0.66
| 0.74
| Including
| 220.0
| 223.5
| 3.5
| 16.76
| 1.07
| 1.29
|
| 383.2
| 507.5
| 124.4
| 102.59
| 0.95
| 2.28
| Including
| 385.4
| 388.2
| 2.8
| 40.85
| 7.38
| 7.90
| Including
| 385.4
| 386.3
| 0.9
| 80.60
| 19.65
| 20.69
|
| 410.7
| 424.8
| 14.2
| 77.34
| 2.13
| 3.13
|
| 449.4
| 488.0
| 38.6
| 134.25
| 0.71
| 2.44
| Including
| 451.7
| 452.0
| 0.3
| 4170.00
| 0.03
| 53.80
| Including
| 458.5
| 462.1
| 3.6
| 40.94
| 2.99
| 3.52
| Including
| 470.2
| 478.9
| 8.7
| 207.33
| 0.32
| 2.99
|
| 498.2
| 507.0
| 8.9
| 475.56
| 0.31
| 6.44
| Including
| 498.2
| 498.8
| 0.7
| 1700.00
| 0.42
| 22.34
| Including
| 504.6
| 506.0
| 1.4
| 1538.78
| 0.34
| 20.19
|
|
|
|
|
|
|
| H24D-6002
| 357.26
| 458.18
| 100.92
| 100.65
| 0.38
| 1.68
| Including
| 357.3
| 359.3
| 2.1
| 4.53
| 2.86
| 2.91
|
| 428.4
| 448.8
| 20.4
| 357.01
| 0.83
| 5.43
| Including
| 428.4
| 429.4
| 1.0
| 300.12
| 1.38
| 5.25
| Including
| 435.9
| 439.5
| 3.6
| 397.04
| 0.66
| 5.78
| Including
| 440.4
| 445.0
| 4.6
| 1066.47
| 1.59
| 15.34
| Including
| 441.9
| 442.4
| 0.5
| 3310.00
| 5.90
| 48.58
|
| 452.2
| 454.2
| 2.0
| 225.49
| 0.32
| 3.22
|
|
|
|
|
|
|
| H24D-6005
| 111.2
| 119.1
| 8.0
| 176.54
| 0.79
| 3.06
|
| 207.4
| 234.5
| 27.1
| 6.33
| 0.40
| 0.48
|
| 254.4
| 476.9
| 222.4
| 32.38
| 0.45
| 0.86
| Including
| 385.2
| 395.2
| 10.0
| 328.25
| 0.34
| 4.57
| Including
| 385.2
| 386.9
| 1.7
| 1155.27
| 0.94
| 15.84
| Including
| 408.2
| 419.0
| 10.8
| 107.02
| 0.24
| 1.62
|
| 537.1
| 556.1
| 19.0
| 142.14
| 0.37
| 2.21
| Including
| 537.4
| 537.6
| 0.3
| 6260.00
| 0.06
| 80.78
|
| 594.2
| 599.1
| 4.9
| 170.25
| 0.31
| 2.50
|
|
|
|
|
|
|
| H24D-6007
| 46.15
| 93.57
| 47.43
| 22.51
| 0.35
| 0.64
| Including
| 47.7
| 50.2
| 2.6
| 307.40
| 0.12
| 4.08
| Including
| 64.0
| 64.6
| 0.5
| 54.40
| 3.10
| 3.80
|
| 113.4
| 125.0
| 11.6
| 16.56
| 0.98
| 1.19
|
| 371.3
| 399.5
| 28.2
| 11.98
| 0.44
| 0.59
|
| 468.4
| 537.8
| 69.4
| 108.38
| 0.57
| 1.97
| Including
| 468.4
| 474.7
| 6.4
| 213.71
| 0.63
| 3.38
| Including
| 497.1
| 537.8
| 40.7
| 144.2
| 0.7
| 2.6
| Including
| 497.1
| 500.9
| 3.8
| 193.6
| 0.2
| 2.7
| Including
| 512.4
| 514.9
| 2.5
| 645.3
| 0.7
| 9.0
| Including
| 513.2
| 513.7
| 0.5
| 1430.0
| 1.2
| 19.6
| Including
| 536.3
| 537.8
| 1.5
| 960.0
| 4.8
| 17.2
|
Figure 1 (see image).
2024 Wireframe (green) denoting increased mineralization (gray) from these results
Corporate Update
The Company's unrestricted cash balance was $56 million at September 30, 2024 and is in compliance with its debt covenants.
Ms. Garrett continued: "Our primary objective is to deliver exceptional value to our shareholders. From the start, we set out to do so by building a solid foundation for the next phase of operations and maintaining a strong balance sheet. The team's exceptional efforts are yielding strong results not only in exploration but also with the technical studies that are of critical importance. We have a lot in store for the remainder of 2024 and 2025 and look forward to providing more updates in the near future."
About the 2024 Exploration Drill Program
The drill program is designed to improve continuity within the recently discovered high-grade silver trends (Vortex – Camel and Camel – Brimstone), extend mineralization along strike and at depth, and test new exhibiting potential for high-grade within and outside the currently known resource. Through this work the Company hopes to develop opportunities to mine higher-grade ore early in the mine plan, thereby enhancing the project's economics. The 2024 Drill Program, consists of a total of 8,500 meters of core drilling. The drilling is being conducted by Timberline Drilling Incorporated of Elko, NV. Assays are being completed by ALS Geochemistry of Reno, NV. The Company's Qualified Person is Alex Davidson, Vice President, Exploration.
About Hycroft Mining Holding Corporation
Hycroft Mining Holding Corporation is a US-based gold and silver company developing the Hycroft Mine, among the world's largest precious metals deposits located in northern Nevada, a Tier-One mining jurisdiction. After a long history of oxide heap leaching operations, the Company is focused on completing the technical studies to transition the Hycroft Mine into the next phase of commercial operations for processing the sulfide ore. In addition, the Company is engaged in a robust exploration drill program to further expand the newly discovered high-grade dominant silver systems and unlock the full potential of this worldclass asset.
For further information, please contact:
info@hycroftmining.com
www.hycroftmining.com
Cautionary Note Regarding Forward-Looking Statements
This news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, estimates and expectations of future production, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. The exploration target does not represent, and should not be construed to be, an estimate of a mineral resource or mineral reserve, as ranges of potential tonnage and grade (or quality) of the exploration target are conceptual in nature; there has been insufficient exploration of the relevant property or properties to estimate a mineral resource; and it is uncertain if further exploration will result in the estimation of a mineral resource. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed or implied by the "forward-looking statements". Such assumptions, include, but are not limited to the key assumptions set forth on page 4 hereof. Investors are also encouraged to refer to the Company's Form 10-K for its fiscal year 2023, filed with the SEC on March 14, 2024, as updated by Form 10-Q for the quarterly periods ended March 31, 2024 and June 30, 2024, filed with the SEC on May 7, 2024 and August 6, 2024, respectively, as well as Hycroft's other SEC filings for additional information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Continued reliance on "forward-looking statements" is at investors' own risk.
SOURCE Hycroft Mining Holding Corporation |
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| To: LoneClone who wrote (3398) | 10/7/2024 1:30:31 PM | | From: LoneClone | | | | Headwater Announces Drilling Plans for the TJ Project, Nevada
thenewswire.com
Vancouver, British Columbia - TheNewswire - October 7, 2024: Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the "Company" or "Headwater") is pleased to announce it has identified multiple high-priority drill targets and has finalized plans for the Company’s maiden drill program on its 100% owned TJ project located in northeast Nevada.
Highlights:
- Drilling Program Scheduled: Drilling permits have been received and plans finalized for a maiden drill program projected to consist of an initial 2,000 metres. Drilling is scheduled to commence in fall 2024 and will be fully funded by Headwater.
- Drill Program Objective: This maiden drill program will test multiple targets for high-grade epithermal veins at depth beneath outcropping silica sinter and down-dip of historic shallow drill holes that encountered broad zones of silicification and epithermal alteration, ending in anomalous gold mineralization.
- CSAMT Survey: Recently acquired CSAMT geophysics have identified a number of high-priority drill targets vertically below a mapped silica sinter exposure at surface. Several large areas of elevated resistivity have been mapped at depth which Headwater geologists interpret as silicification related to potential feeder structures.
- New Target Zone: Detailed geologic mapping and rock chip sampling has identified a new target area containing subcropping quartz vein boulders with epithermal textures and anomalous gold values one kilometre south of the main sinter target area.
Caleb Stroup, President and CEO of the Company, states: “We are very excited for this upcoming drill program at our TJ project. Following the results of our recent CSAMT survey, this project has immediately moved to the top of our list for self-funded drilling. The project shows remarkable similarities to our Spring Peak project, also in Nevada, where we have discovered a new high-grade epithermal vein system. Like Spring Peak, TJ hosts a well-preserved silica sinter with a strong trace element signature at surface underlain by a high-resistivity zone directly below. Shallow historic drilling encountered anomalous gold but did not drill deep enough to test for high-grade veins in the projected boiling horizon at depth. The Company has a strong treasury following the recent strategic financing with Centerra Gold allowing us to advance our mandate of creating additional shareholder value through aggressive, high-impact exploration. The TJ project represents an excellent opportunity to pursue this mission in our focus area of Nevada.”
2024 Drill Program:
Headwater’s maiden drill program at TJ has been planned and is currently scheduled to commence in late October 2024. Drill permits have been authorized by the Bureau of Land Management and drill contracts are in place. The initial TJ drill program is expected to consist of approximately 5 to 7 reverse circulation drill holes ranging in depth from 250 to 400 metres.
Figure 1: Map of the TJ project area showing generalized project geology, alteration, and locations of proposed drill holes. Cross-section A-A’ corresponds to the interpreted CSAMT section shown in Figure 3.
The primary objective of the drill program is to test for high-grade veins at depth along multiple sub-parallel structures in the core of the alteration cell. Shallow historic drilling targeting near surface oxide mineralization encountered broad zones of silicification, epithermal alteration, and anomalous gold in this area but did not penetrate to sufficient depths to test for potential high-grade feeder structures. The majority of historic holes were vertical and none of the holes drilled to depths beyond 150 metres. Several of the deeper historic holes encountered anomalous gold values (>0.1 g/t Au) with some ending in mineralization. Headwater drilling will target depths of approximately 175 to 250 metres vertically beneath the silica sinter exposed at the surface to test for high-grade epithermal veins within a potential epithermal boiling zone.
Figure 2: Interpreted cross section through A-A’ with CSAMT geophysics apparent resistivity profile overlain by historic drill holes, conceptual vein targets, and proposed Headwater drill holes.
CSAMT Survey:
A controlled-source audio-frequency magnetotelluric (“CSAMT”) resistivity survey totaling 8.2 line-kilometres on five parallel profiles was completed by Headwater over the TJ project. Survey lines were located proximal to the main target area, where a thick accumulation of silica sinter is preserved (Figure 1) and were designed to identify the subsurface geometry and strike extent of potential mineralized structures at depth. A broad zone of high apparent resistivity was identified directly below the sinter (Figure 2). This high-resistivity feature appears to be continuous over a north-south strike length exceeding 700 metres and a good correlation exists between this high resistivity and silicified intervals logged in historic drill holes, supporting the interpretation that the observed high-resistivity is due to silicification introduced by hydrothermal alteration. Multiple high-angle resistivity breaks are also apparent in the CSAMT data within and at the margins of resistive bodies and are interpreted as potential mineralized feeder structures and the primary targets for Headwater’s 2024 drilling (Figure 2).
Geologic Mapping and Surface Sampling:
Detailed geologic and alteration mapping completed by Headwater near the main sinter target area (Figure 1), as well as regional mapping across the broader project area, has delineated structures and helped identify multiple high-priority drill targets. High-level epithermal alteration is preserved at the surface of the property and includes a broad envelope of argillic alteration centered around a thick and laterally extensive accumulation of silica sinter and water table silica (see Headwater news release dated October 3, 2023).
Recent surface rock chip sampling returned anomalous epithermal pathfinder element geochemistry with strongly anomalous gold and silver values from samples of silicified breccias and chalcedonic quartz veins (Figure 1). Shallow alluvial cover blankets much of the property and outcrop exposures are limited, but silicified outcrops and concentrations of vein float closely align with mapped structures. Reconnaissance geology returned a range of subcrop and float vein samples with diagnostic epithermal textures, including lattice-bladed quartz-after-calcite that indicates boiling conditions (Figure 3). Initial rock chip sampling returned values up to 354 ppb Au for these vein samples, and revealed an area with subcropping epithermal veins along the southern continuation of the main structural corridor. Vein compositions and textures in this area are generally indicative of high-level portions of an epithermal system, but imply the potential for high-grade mineralization at depth. Detailed follow-up sampling and geologic mapping is planned to further characterize this new target area.
Figure 3: Subcrop and float samples of chalcedonic quartz vein with lattice-bladed calcite and quartz-after-calcite textures, indicative of boiling conditions within an epithermal system.
About the TJ Project:
The TJ project is located on BLM land in an underexplored area of northeastern Nevada, approximately 25 km southeast of the town of Jackpot. The project area contains indications of a fully preserved epithermal system, including a thick and laterally extensive accumulation of silica sinter and water table silica in the core of the property. Epithermal alteration is localized along a series of steeply inclined faults that bound a sedimentary graben filled with Miocene-age sedimentary rocks and locally extends into granitic basement. Limited historic exploration at the property included shallow RC drilling that confirmed the presence of a broad zone of high-level epithermal alteration. The Company believes that the project has potential for high-grade vein-style mineralization at depth and plans to complete an initial drill program in fall of 2024.
The TJ project consists of 90 unpatented mining claims staked by Headwater and 13 unpatented mining claims under option from a private arm’s length party (the “Vendor Claims”). By making an initial cash payment of US$15,000, escalating annual payments and a US$250,000 work commitment over a two-year term, Headwater retains a 30-year right to purchase an undivided 100% interest in the Vendor Claims for a one-time payment of US$1,500,000 inclusive of the annual minimum payments, subject to NSR royalties of 2.5% on the Vendor Claims and 1.5% applicable on claims within an area of interest. The Company may purchase 40% of the NSR for US$2,000,000 at any time and an additional 40% of the NSR may be purchased for fair value within 90 days after completion of a NI 43-101 compliant pre-feasibility report.
About Headwater Gold:
Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) is a technically driven mineral exploration company focused on the exploration and discovery of high-grade precious metal deposits in the Western USA. Headwater is aggressively exploring one of the most well-endowed and mining-friendly jurisdictions in the world with a goal of making world-class precious metal discoveries. Headwater has a large portfolio of epithermal vein exploration projects and a technical team of experienced geologists with diverse capital markets, junior and major mining company backgrounds. The Company is systematically drill testing several projects in Nevada and in August 2022 and May 2023 announced significant transactions with Newmont where it acquired a 9.9% strategic equity interest in the Company and entered into earn-in agreements on several of Headwater’s projects, including Spring Peak and Lodestar which continue under partnership.. In September of 2024 Centerra Gold Inc. acquired a strategic 9.9% interest in the Company through non-brokered private placement at a premium to market.
Headwater is part of the NewQuest Capital Group which is a discovery-driven investment enterprise that builds value through the incubation and financing of mineral projects and companies. Further information about NewQuest can be found on the company website at www.nqcapitalgroup.com.
For more information, please visit the Company's website at www.headwatergold.com.
On Behalf of the Board of Directors
Caleb Stroup
President and CEO
+1 (775) 409-3197
cstroup@headwatergold.com
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
bzerb@headwatergold.com
Qualified Person:
The technical information contained in this news release has been reviewed and approved by Scott Close, P.Geo (158157), a “Qualified Person” (“QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, exploration activities and the specifications, targets, results, analyses, interpretations, benefits, costs and timing of them, Newmont’s anticipated funding of the earn-in projects and the timing thereof, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to the anticipated business plans and timing of future activities of the Company, including the Company’s exploration plans and the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, the risk that Newmont will not elect to obtain any additional interest in the earn-in projects in excess of the minimum commitment, the ability of the Company to obtain the required permits, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated May 26, 2021 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.
|
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| To: LoneClone who wrote (3399) | 10/7/2024 2:15:37 PM | | From: LoneClone | | | | Western Exploration Reports Positive Assay Results From 2024 Drilling Program at Gravel Creek
Drill results of up to 1.01 meters of 68.32 g/t AuEq and 0.49 meters of 111.54 g/t AuEq Highlight Potential Resource Expansion Northeast of the Current Gravel Creek Deposit
ca.finance.yahoo.com
Business Wire
Mon, October 7, 2024 at 4:30 a.m. PDT·14 min read
WEXPF
-3.22%
Figure 1. Jarbidge Discovery Section Cross Section, showing interpreted continuity of high-grade values along sub parallel structural zones, based on oriented core measurements in holes WG456 and WG457. The vein zones and subsidiary splays have over 20.0 g/t AuEq grades on a dip length of potentially over 200 meters (AuEq calculated at 85:1 Ag: Au; see Figure 2 below for location reference). (Graphic: Business Wire)
Figure 2. Plan view Gravel Creek area, showing the Gravel Creek resource zone, location of 2023 Discovery Section (Figure 1) and hole WGC459 (described in this news release) and traces of the 2024 drill holes with assays pending or planned. (Graphic: Business Wire)
Figure 3. Jarbidge Rhyolite Cross Section 10580N, showing hole WG459 assay results in context with the Gravel Creek Resource and key legacy drill intercepts. (Graphic: Business Wire)
Figure 4. Cross section A-A’, northeast at the limit of drilling in the Gravel Creek area. Note the widespread distribution of 10.0 g/t AuEq intercepts at the NE limit of current drilling, as well in a 550 meter by 350 meter area of the Jarbidge rhyolite to the northeast of Gravel Creek, as highlighted by the insert map on the 1700-m elevation. (Graphic: Business Wire)
Figure 5. Aura Project – Land holdings and Infrastructure. (Graphic: Business Wire)
VANCOUVER, British Columbia, October 07, 2024--( BUSINESS WIRE)--Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) (the "Company" or "Western Exploration") is pleased to announce initial assay results from its 2024 core drilling program in the Jarbidge rhyolite north-east of the Gravel Creek resource area at the Company's wholly-owned Aura gold-silver project, located in Elko County, Nevada (the "Aura Project").
Highlights of 2024 Drill Program
- Four oriented core holes totaling 2,789 meters have been completed and one hole is in progress to offset the high-grade intercepts in the Jarbidge rhyolite ("Discovery Section") (see the Company's news release dated January 08, 2024, entitled "Western Exploration Provides Update on Drilling Activities at Gravel Creek").
- Hole WG459 was drilled 80 meters north on strike from the Discovery Section and reported individual assays of up to 75.30 g/t Au and 3,080 g/t Ag, with key intercepts including:
- 3.69 meters of 22.06 g/t AuEq (16.66 g/t Au and 458.6 g/t Ag)
- 6.10 meters of 12.44 g/t AuEq (8.52 g/t Au and 333.5 g/t Ag)
The drill results in holes WG459 provide further definition to a set of high-grade Au-Ag bearing veins and breccias in the Jarbidge rhyolite adjacent to the Gravel Creek resource area. Assay results from additional core holes and interpretation of oriented core data will be reported in subsequent news releases.
Assay Results Support Potential for Resource Expansion
Western Exploration CEO, Darcy Marud, commented: "Western Exploration is extremely pleased with the initial results of the 2024 drill program, which intersected assay values of up to 75.3 g/t Au and 3,080 g/t Ag in hole WG459. These results support the Company's belief that high grade veins continue at least 80 meters to the north of the Discovery Section, as reported in January 2024. Oriented core drilling is still ongoing to extend the north/north-west trending vein zone and to connect with multiple high grade Au intercepts identified by wide-spaced legacy holes in an area of approximately 550 meters by 350 meters in size. The Company anticipates that these results will help support the expansion of the mineral resource at Gravel Creek."
Multiple High-Grade Au-Ag Vein Drill Intercepts Peripheral to the Gravel Creek Deposit
Previous drilling in the Miocene Jarbidge rhyolite to the north-east of the Gravel Creek deposit intersected multiple high-grade Au-Ag bearing vein intercepts, with individual assays of up to 237.0 g/t AuEq in hole WG379 and 2,800.0 g/t Ag in hole WG456. None of these Jarbidge-hosted intercepts have been included in previous resource estimates. Oriented core drill results from the Company's 2023 drilling program provided the first set of data that the Company has used to begin linking vein intercepts, with a preliminary interpretation of vein trends shown on the Discovery Section 500N (see Figure 1 below).
Four oriented core holes totaling 2,789 meters have been completed during the 2024 drill program, with hole WG462 currently in progress 160 meters north of the Discovery Section. Hole WG459 was drilled 80 meters to the north of the Discovery Section on section 580N (see Figure 2 and Figure 3 below). The hole intersected multiple quartz-pyrite marcasite-bearing veins and breccias, highlighted by an upper and lower vein/breccia/stockwork zone containing intercepts of over 60.0 g/t AuEq, surrounded by lower grade mineralization. Significant assay intercepts are summarized in Table 1 with drill hole coordinates included in Table 2. Oriented core data is being interpreted as drilling proceeds and will be reported in future news releases.
Table 1. Summary of Significant Drill Intercepts in 2024 core hole WGC459.
|
| FROM
| TO
| INTERVAL*
| AuEq **
| Au
| Ag
| DRILL HOLE
| (m)
| (m)
| (m)
| (g/t)
| (g/t)
| (g/t)
| WGC459
| 540.87
| 541.63
| 0.76
| 5.85
| 3.36
| 212.0
| WGC459
| 543.89
| 547.58
| 3.69
| 22.06
| 16.66
| 458.6
| includes
| 543.89
| 544.90
| 1.01
| 68.32
| 51.50
| 1,430.0
| includes
| 547.09
| 547.58
| 0.49
| 20.14
| 15.45
| 399.0
| WGC459
| 565.44
| 565.81
| 0.37
| 26.50
| 22.50
| 340.0
| WGC459
| 651.36
| 657.46
| 6.10
| 12.44
| 8.52
| 333.5
| includes
| 654.78
| 655.27
| 0.49
| 111.54
| 75.30
| 3,080.0
| * Estimated true width is 80-100% of Interval Width; Intervals are calculated with a 3 g/t AuEq cutoff, with limited +1.0 g/t AuEq internal dilution.
| ** AuEq is calculated at 85:1 Ag:Au
|
|
|
|
Table 2. Coordinates for 2024 completed drill holes (UTM NAD 83, Zone 11)
| Drill Hole
| Easting (m)
| Northing (m)
| Elevation (m)
| Depth (m)
| Azimuth
| Dip
| WGC458
| 586,974.0
| 4,616,060.0
| 2,186.3
| 764.1
| 99.0
| 64
| WGC459
| 587,067.0
| 4,616,194.0
| 2,226.0
| 712.3
| 95.3
| 70
| WGC460
| 587,067.0
| 4,616,194.0
| 2,226.0
| 740.1
| 94.5
| 76
| WGC461
| 587,179.0
| 4,616,093.0
| 2,191.8
| 668.1
| 96.0
| 71
|
Significance for Future Gravel Creek Exploration
Result are pending for holes WGC458, WGC460 and WGC461, with hole WGC462 currently in progress. Initial results from hole WGC459 help support the extension of oriented core drilling into the 550-meter by 350-meter area to the northeast of the Gravel Creek resource within the Jarbidge rhyolite with the aim of linking multiple high grade AuEq intercepts in widely spaced legacy holes located in that area. Of note are the number of intercepts of over 10.0 g/t AuEq intersected in the farthest east/north-east drill holes, which suggests that the Gravel Creek system has not been closed off (see Figure 4 below). The 2024 drill results will be evaluated in context with legacy drilling, with the goal of defining a preliminary inferred resource to expand the Gravel Creek deposit resource base.
About the Aura Project
The 6,000-hectare Aura Project has an established mineral resource estimates in three different deposits (Doby George, Gravel Creek and Wood Gulch) (see Table 3 below), as reported in the technical report entitled "2021 Updated Resource Estimates and Technical Report for the Aura Gold-Silver Project, Elko County, Nevada" dated October 20, 2021 (with an effective date of October 14, 2021) that was prepared for the Company by Mine Development Associates (the "Technical Report"). The mineral resource estimate included in the Technical Report were prepared in accordance with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
In addition, the Aura Project has well established infrastructure including year-round accessibility by highway and county-maintained road and nearby access to water and electricity (see Figure 5 below). Western Exploration has exploration, development, and mining rights on 930 hectares of privately owned land through a mineral lease agreement with a local landowner and may purchase those fee lands at any time for the development of Doby George.
Table 3. Mineral resource estimates for the Aura Project as reported in the 2021 Technical Report
MINERAL RESOURCE ESTIMATE(1)
|
| Indicated
| Inferred
|
| Tonnes
| Au (g/t)
| Au (ozs)
| Ag (g/t)
| Ag (ozs)
| AuEq (g/t)
| AuEq (oz.)
| Tonnes
| Au (g/t)
| Au (ozs)
| Ag (g/t)
| Ag (ozs)
| AuEq (g/t)
| AuEq (oz.)
| Doby George(2)
| 12,922,000
| 0.98
| 407,000
| -
| -
| 0.98
| 407,000
| 4,999,000
| 0.73
| 118,000
| -
| -
| 0.73
| 118,000
| Wood Gulch(3)
| -
| -
| -
| -
| -
| -
| -
| 4,359,000
| 0.66
| 93,000
| 5.80
| 808,000
| 0.74
| 104,543
| Gravel Creek(4)
| 1,315,000
| 4.73
| 200,000
| 75.0
| 3,169,000
| 5.81
| 245,271
| 2,744,000
| 4.16
| 367,000
| 60.20
| 5,307,000
| 5.02
| 442,814
| TOTAL
| 14,237,000
| 1.33
| 607,000
| 75.0
| 3,169,000
| 1.43
| 652,271
| 12,102,000
| 1.48
| 578,000
| 15.74
| 6,115,000
| 1.71
| 665,357
|
Notes:
(1) Au equivalent oz assumes US$1,800 per oz Au and 70:1 ratio of Ag:Au.
(2) Pit constrained 0.2 g/t AuEq cutoff for oxide, 0.4 g/t Au cutoff for mixed and 1.4 g/t Au cutoff for unoxidized.
(3) Pit constrained 0.2 g/t AuEq cutoff.
(4) 3.0 g/t Au cutoff.
About Western Exploration
Western Exploration is focused on advancing the 100% owned Aura Project, located approximately 120 kilometers/75 miles north of the city of Elko, Nevada. The Aura Project includes three unique gold and silver deposits: Doby George, Gravel Creek, and Wood Gulch. Western Exploration is comprised of an experienced team of precious metals experts that aim to lead the company to becoming North America's premiere gold and silver development company.
Additional information regarding Western Exploration and the Aura Project can be found on the Company's website and on SEDAR+ ( www.sedarplus.ca) under the Company's issuer profile. For more information please contact:
Qualified Person Approval
The scientific and technical content in this news release has been reviewed and approved by Mark Hawksworth, General Manager of the Western Exploration's Aura Project, who is a "qualified person" within the meaning of NI 43-101.
Quality Assurance – Quality Control
Drill program design, Quality Assurance/Quality Control ("QA/QC") and the interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.
Drill core samples were delivered by Major Drilling to Western Exploration's warehouse/logging facility in Mountain City and washed, photographed and logged by company geologists. Sample intervals were marked and recorded. Quality control (QC) samples were inserted at regular intervals in the sample stream with all sample shipments, including blanks, core duplicates and reference materials, to monitor laboratory performance. Core was kept in the secure Mountain City facility until transported for assay.
Drill core samples were transported by Neilsen Exploration to ALS Chemex located in Sparks, Nevada, for sample preparation and analysis. Core was sawed at the ALS facility, with ½ prepared for assay and ½ core preserved and returned to Western’s Mountain City facility. Samples were analyzed for gold using ALS Chemex fire assay procedure Au-AA13, with over limits being analyzed by Au_GRA21. Samples were analyzed for silver and a 40-element suite using ALS Chemex procedure ME-ICP41, with over limits being analyzed by Ag_GRA21. Split core, all pulps and select rejects are returned to Mountain City for secure long-term storage.
Oriented core data was collected following methodology established by Oriented Targeting Solutions. Oriented Targeting Solutions compiled data in Access and completed the first pass interpretation utilizing Leapfrog software.
Please see below under the heading "Cautionary Note Regarding Forward-Looking Information" for further details regarding the risks facing Western Exploration.
For additional information on the Aura Project, please see the Technical Report, which has been prepared in accordance with the requirements of NI 43-101, a copy of which is available on SEDAR+ ( www.sedarplus.ca) under Western Exploration's issuer profile and on Western Exploration's corporate website ( www.westernexploration.com).
Cautionary Statements Regarding Estimates of Mineral Resources
This news release uses the terms measured, indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimate disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum's "CIM Definition Standards on Mineral Resources and Mineral Reserves" (CIM) incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.
Inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. On October 31, 2018, the SEC adopted new mining disclosure rules ("S-K 1300") that are more closely aligned with current industry and global regulatory practices and standards, including NI 43-101, although there are some differences in the two standards. Accordingly, information concerning mineral deposits contain in this release may not be comparable with information made public by U.S. companies that report in accordance with S-K 1300.
Cautionary Note Regarding Forward-Looking Information
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of the applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). These forward-looking statements, by their nature, require the Company to make certain assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements. This news release contains the forward-looking statements pertaining to, among other things: the significance of the results of the 2023 drill program; the accuracy of results from prior exploration activities conducted at the Aura Project; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Doby George, Wood Gulch and Gravel Creek mineral deposits; the potential to greatly expand resources within the Gravel Creek mineralized system; future drilling at the Aura Project; the significance of historic exploration activities and results; the ability to expand the existing mineral resources at the Aura Project. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management's geological modelling; the ability of Western Exploration to complete further exploration activities, including drilling; property and royalty interests in respect of the Aura Project; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Western Exploration cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Western Exploration nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Western Exploration does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For additional information with respect to these and other factors and assumptions underlying the forward-looking statements and forward-looking information made in this news release concerning Western Exploration, see the management information circular dated November 12, 2021, and the Company's most recent annual and interim financial statements and related management's discussion and analysis, which are available under Western Exploration's issuer profile on SEDAR+ ( www.sedarplus.ca). The forward-looking statements set forth herein concerning Western Exploration reflect management's expectations as at the date of this news release and are subject to change after such date. Western Exploration disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
View source version on businesswire.com: businesswire.com
Contacts
Darcy Marud
Chief Executive Officer
Telephone: (775) 329-8119
Email: dmarud@westernexploration.com
Nichole Cowles
Investor Relations
Telephone: 775-240-4172
Email: nicholecowles@westernexploration.com |
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| To: LoneClone who wrote (3400) | 10/8/2024 2:46:10 PM | | From: LoneClone | | | | North Peak Receives Permission to Expand Exploration Zone; New Area in Prospect Mountain East to Be Drilled Targeting Previous Homestake Hole
newsfilecorp.com
October 08, 2024 7:30 AM EDT | Source: North Peak Resources Ltd.
Calgary, Alberta--(Newsfile Corp. - October 8, 2024) - North Peak Resources Ltd. (TSXV: NPR) (the "Company" or "North Peak") is pleased to announce that the Bureau of Land Management (United States Department of the Interior) has approved the Company's application to modify the Plan of Operations (PoO) at its Prospect Mountain property at Eureka, Nevada (the "Property"), resulting in a 642% increase (to 189.9 acres) of the area on which the Company can conduct surface exploration. This newly expanded surface exploration area now covers the main mountain ridge on the Property, including the more accessible east side.
"This extension of the permitted surface exploration area allows drilling for gold mineralization across a wider area of the Property than the original Plan of Operations exploration area covered," commented Brian Hinchcliffe, CEO. "Drilling at Prospect Mountain East targeting the historic Homestake hole and its mineralization intervals is expected to begin shortly, as the four remaining holes being drilled in the Wabash zone should be finished this week."
The Company will now move its focus on following up on the Prospect Mountain East area, which is at the foot of the east side of the mountain and where there is a historic Homestake hole intersection, where potential Carlin style mineralization was intersected. This isolated historical Homestake hole identified significant gold mineralization at this contact beneath overthrust barren rocks and opens up the potential along the eastern portion of the Property for "hidden" mineralization that doesn't outcrop, in an area previously thought as non-prospective. The Dunderberg shale Hamburg dolomite contact is important for localising CRD and Carlin style mineralization throughout the district and this is the same contact that is found at the Ruby Deeps area, just 6km away within i-80's Ruby Hill property.
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Review by Qualified Person
Mr. Mike Sutton, P.Geo., a director of the Company, is the Qualified Person, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this press release. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Property or any underlying property agreements.
About Prospect Mountain
The Property lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2,000ft) below the top of the ridge line.
A Plan of Operations is in place which covers part of the Property and entitles an operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and certain infrastructural works. It includes a permit to extract water from a well and to build water containment facilities.
A more complete description of Prospect Mountain's geology and mineralization, including at the Wabash area, can be found in the NI 43-101 Technical Report (the "Technical Report") on the Prospect Mountain Property, Eureka County, Nevada, USA dated and with an effective date April 10, 2023, prepared by David Pym (Msc), CGeol. of LTI Advisory Ltd. and Dr Toby Strauss, CGeol, EurGeol., of Merlyn Consulting Ltd., which has been filed on SEDAR+ at www.sedarplus.ca under the profile of the Company and on the Company's website.
About North Peak
The Company is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "NPR". The Company is focused on acquiring historical sites, with low cost producing gold and other metals properties, with near term production potential and 8+ year mine life in the northern hemisphere.
The Company has acquired an initial 80% interest in the Prospect Mountain Mine complex in Eureka, Nevada and has the right to acquire the remainder of the Property (see the Company's May 4 and 23, 2023 and August 25, 2023 press releases).
The Company can give no assurances at this time that its properties and interests will fulfil the Company's business development goals described herein. Trading in the securities of the Company should be considered highly speculative.
For further information, please contact:
Brian Hinchcliffe, CEO
Phone: +1-647-424-2305
Email: info@northpeakresources.com
Website: www.northpeakresources.com
Chelsea Hayes, Director
Phone: +1-647-424-2305
Email: info@northpeakresources.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-Looking statements include, but are not limited to, timing and completion of any drilling and work programs on the Property, estimates of mineralization from drilling, sampling and geophysical surveys, geological information projected from drilling and sampling results and the potential quantities and grades of the target zones, the potential for minerals and/or mineral resources and reserves, and statements regarding the plans, intentions, beliefs, and current expectations of the Property and the Company that may be described herein. Forward-Looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, accuracy of assay results, geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and grades of target zones, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended December 31, 2023 and the quarter ended June 30, 2024, available at www.sedarplus.ca, many of which are beyond the control of the Company. Forward-Looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 SOURCE: North Peak Resources Ltd. |
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| To: LoneClone who wrote (3401) | 10/8/2024 3:22:55 PM | | From: LoneClone | | | | Nexus Announces Completion of Sale of Interest in Independence JV
newsfilecorp.com
October 08, 2024 9:00 AM EDT | Source: Nexus Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2024) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus") is pleased to announce that it has completed the proposed sale of its 51.54% interest in the development-stage Independence project in Nevada. As previously announced, the Company had previously entered into a purchase agreement with a third-party buyer, which was subject to any exercise of the right of first refusal by America's Gold Exploration Inc. ("AGEI"), the Company's joint venture party. AGEI exercised this right of first refusal and acquired the Company's interest for C$1.22 million.
"The continued monetization of non-core assets, most recently with the sale of our interest in the Independence project, provides an additional source of non-dilutive capital to advance our uranium exploration focus" commented Jeremy Poirier, CEO of Nexus Uranium. "The Company remains well capitalized heading into our winter drill program at Cree East, which is expected to mobilize in early 2025."
About Nexus Uranium Corp.
Nexus Uranium Corp. is a multi-commodity development company focused on advancing the Cree East uranium project in the Athabasca Basin in addition to its precious metals portfolio that includes the Napoleon gold project in British Columbia and a package of gold claims in the Yukon. The Cree East project is one of the largest projects within the Athabasca Basin of Saskatchewan spanning 57,752 hectares (142,708 acres) and has seen over $20 million in exploration to date. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.
The technical content of this news release has been reviewed and approved by Warren D. Robb, P.Geo. (BC), a Director and VP Exploration of Nexus Uranium Corp. and a Qualified Person under National Instrument 43-101.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
info@nexusuranium.com
This news release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to, any planned expanded exploration at the Cree East Project. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that the Company will be successful in expanding its exploration at the Cree East Project. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to: the risk that the conditions to closing of the proposed sale of the Company's interest in the Independence Project will not be satisfied and inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
 SOURCE: Nexus Uranium Corp. |
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| To: LoneClone who wrote (3402) | 10/9/2024 2:14:02 PM | | From: LoneClone | | | | Phenom Reports Dobbin Gold Footprint Grows, Nevada
newsfilecorp.com
October 09, 2024 9:15 AM EDT | Source: Phenom Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 9, 2024) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce this recent round of soil results from sampling, the objective of which has been to expand the length of the strong northeast-trending Dobbin soil anomaly initially reported September 4, 2024. Dobbin Gold Project lies 80 kilometres (49 miles) southwest of Eureka in central Nevada. New soil sampling results extend the gold anomaly from 900 metres (3,000 ft) to 1.3 kilometres (4,300 ft) in length (see Figure 1). A large number of gold values in the anomaly assay between >0.1 g/t Au up to 2.73 g/t Au (approx. 0.09oz/ton). The system footprint may be larger still.
Prospecting and mapping have identified a 600 metre (2,000 ft) long by 200 metre (650 ft) wide trend of similar alteration (significant veining and jasperoid) which is interpreted to be a faulted off south-western extension of the gold anomaly (see Figure 1). Soil sampling has been completed over this new segment. Assays are anticipated in 2 weeks' time.
Figure 1: Dobbin Gold Soil Anomaly defined by 25m x 25m detailed soil grid sampling
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The anomalous gold zone and SW extension represented in Figure 1 are interpreted to be controlled by northeast-trending structures presumed to be subvertical, cutting through gently-dipping Roberts Mountains Formation carbonates, an important host for many Carlin-type gold deposits in central and northern Nevada.
Dave Mathewson, Director and Geological Advisor of the Company, states, "The size and strength of this surface gold soil anomaly when it was just 900 metres long is rarely found in Nevada. Now it is longer, as determined by the new results and may yet be additionally extended. Anomalies of this character and magnitude where previously found have led to significant gold discoveries and ultimately even producing gold deposits. There has, to date, been no drilling in these areas. These geochemical levels of gold and associated pathfinder elements within these permissive Roberts Mountains Formation carbonates strongly suggest the presence of a significant disseminated, carbonate-hosted Carlin-style gold deposit."
Phenom submitted the samples with QAQC standards to ALS Minerals for gold fire assay and ICP trace element analyses. The samples assayed up to 2.73 g/t gold along with strong Carlin-type pathfinder element values in arsenic, antimony and mercury. The northeast trending soil anomaly in Figure 1 is coincident with structures mapped in the field and air-photo interpretations. Mapping and sampling also indicate the widespread presence of Carlin-type system alteration assemblage of jasperoid and decalcification. Geologic mapping and sampling are ongoing on the project.
In addition, Phenom added more claims in September to increase the size of the Dobbin Property.
About Phenom Resources Corp.
Phenom has 100% interest in the Carlin Gold-Vanadium Project, located six miles south from the town of Carlin, Nevada, and Highway I-80 in Elko County, which hosts the Carlin Vanadium deposit, North America's largest highest grade primary vanadium resource. The Project lies within the prolific Carlin Gold Trend. Approximately nine million ounces comprised of multiple gold deposits, including past producing mines, are present near (5-15km) the Phenom property. The Company has options on three gold projects in Nevada - the King Solomon and Dobbin Properties, which are Carlin Gold-type targets, and the Crescent Vally Property, a Bonanza high grade gold vein-type target.
ON BEHALF OF PHENOM RESOURCES CORP.
per: "Paul Cowley"
CEO & President
(604) 340-7711
pcowley@phenomresources.com
www.phenomresources.com
Technical disclosure in this news release has been reviewed and approved by Dave Mathewson, Director and Geological Consultant of the Company and a Qualified Person as defined by National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Phenom, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans, including ongoing mapping and sampling, future assay results and the impact thereof. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Phenom, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Phenom does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
 SOURCE: Phenom Resources Corp. |
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| To: LoneClone who wrote (3403) | 10/10/2024 2:55:29 PM | | From: LoneClone | | | | Osceola Gold Inks Strategic Multi-Year Agreement to Expand Mining Operations in Mary Ann Canyon, Nevada
accesswire.com
Thursday, 10 October 2024 09:00 AM
ELY, NV / ACCESSWIRE / October 10, 2024 / Osceola Gold Inc. (OTC PINK:OSCI), a leading gold mining and exploration company, is thrilled to announce the signing of a pivotal 5-year consulting agreement with the owner of mining claims in the Osceola Mining District located in White Pine County, Nevada. This agreement is set to significantly bolster Osceola Gold's revenue stream.
Agreement Details:
Under the terms of the agreement, Osceola Gold Inc. will consult on mining operations on the expansive property, leveraging its expertise and advanced mining experience. In return, Osceola Gold will receive a 30% split of the revenue generated from the mining activities.
Key Highlights:
1. Commencement of Operations: Preparations are underway to ensure a seamless and efficient start in the new year, with the initial phase focusing on site preparation and equipment mobilization.
2. Revenue Sharing: The 30% revenue split is anticipated to significantly enhance Osceola Gold's financial performance, contributing to steady revenue growth and improved profit margins over the duration of the agreement. The term of the agreement is 5 years with automatic renewals for additional 5-year increments.
3. Operational Expertise: Osceola Gold will deploy its team of experienced mining professionals to maximize the gold extraction from the Mary Ann Canyon claims. This strategic deployment aims to optimize operational efficiency and yield.
Executive Commentary:
Tracy Pizzoferrato, CEO of Osceola Gold Inc., commented, "This agreement marks a significant milestone for Osceola Gold as we continue to expand our mining operations in Nevada. The Mary Ann Canyon project represents a substantial opportunity for us to increase our revenue stream. We are excited to bring our expertise to this promising site and look forward to a successful and productive relationship. In the coming months, we will expect to publish the recently completed NI-43-101 Technical Report."
Future Outlook:
Osceola Gold Inc. is committed to furthering its growth through strategic partnerships and innovative mining solutions. The company continues to explore new opportunities to expand its portfolio and enhance shareholder value. We also continue our search for a CEO to lead the long-term growth of Osceola Gold.
About Osceola Gold Inc.:
Osceola Gold Inc. (OTC: OSCI) is a publicly traded gold mining and exploration company headquartered in Ely, Nevada. The company is dedicated to the discovery, extraction, and processing of gold resources, employing best-in-class practices and technologies. Osceola Gold is committed to delivering exceptional value to its shareholders while upholding high standards of environmental and social responsibility.
Contact Information:
Osceola Gold Inc.
Investor Relations
Phone: (740) 632-5313
Email: investor.relations@oscigold.com
Website: www.oscigold.com
Forward-Looking Statements:
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Osceola Gold, Inc. |
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