Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) announces that Metals Creek and Quadro Resources Ltd (Quadro) have amended the Yellow FoxCareless Cove LOI.
Metals Creek and Quadro has signed an agreement amending the terms of the Aug. 11, 2020, Yellow Fox/Careless Cove letter of intent with Metals Creek Resources Corp. (see Oct. 8, 2020, news release for details of the original agreement).
Under the terms of the amending agreement and subject to TSX Venture Exchange approval, in lieu of the second-anniversary cash payment of $20,000, Quadro will issue to Metals Creek 500,000 additional common shares of the company for a total of 900,000 common shares at a deemed price of four cents per share.
Careless Cove/Yellow Fox Property
The Careless Cove and Yellow Fox properties are located southwest of Glenwood in east-central Newfoundland (see Quadro's press release dated April 28, 2021). Previous work on the two claim blocks that comprise the properties resulted in the discovery of gold mineralization up to 11.38 grams per tonne gold and 59.413 grams per tonne gold as described in Quadro's May 27, 2021, press release.
Quadro has an option to earn a 100-per-cent interest in the Careless Cove/Yellow Fox claim groups, totalling 40 claim units. The Careless Cove properties are adjacent to New Found Gold Corp.'s claims, which have seen promising early results. Prospecting and soil geochemistry were carried out in mid-2021 (see Quadro's news release dated May 27, 2021), with exploration and drilling planned for winter 2022.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration Company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.
Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax: (709)-256-6061 email: astares@metalscreek.com www.MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135841
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It’s been 125 years since George Carmack found himself in Yukon, Canada, after a failed attempt to capitalize on the reported gold strikes in Alaska. What started as a lucky discovery of a few gold nuggets in a creek bed ended up becoming one of the last great gold rushes in North America.
Gold mining in Canada occupies a rich and vital place in the country’s history. Mineralization of the precious metal exists throughout its landscape, including Ontario, Newfoundland and Labrador and Yukon Territory. Over the 70 years following Carmack’s discovery, Yukon would yield over C$250 million in gold. Even with that much already found, these historical discoveries are only scratching the surface.
Metals Creek Resources (TSXV:MEK) is a Canada-based mineral acquisition and development company focused on exploring future mining opportunities throughout Canada. The company is currently operating world-class properties in Ontario, Yukon Territory and Newfoundland and Labrador. The mining and investor-friendly jurisdictions and rich resource histories of these properties primes Metal Creek Resources for significant high-grade discovery and yield.
The company has two key projects in operation: its Dona Lake gold project and Ogden gold project in Ontario. Metal Creek’s flagship projects are well-positioned for advanced exploration in collaboration with strategic partners and joint venture agreements.
Metal Creek’s Ontario properties’ biggest attractions are their high grade drill results, location and history of past-producing high-grade gold exploration.
The company has the option to earn 100 percent interest in the Dona Lake gold project. Metals Creek CEO Alexander Stares mentioned projected drill program expansion for Dona Lake when discussing future exploration plans. “We’ll have lots of news coming up. Once we finish drilling, we’ll get everything back compiled into computers. We will go back in late summer and do another drill program.” The company’s current funds and exploration plans have primed it for fast-tracked advancement in the near future.
The Ogden property is hosted in the prolific Timmins gold camp and Pickle Lake area. Metals Creek currently has a 50/50 joint venture with Newmont Corp (TSX:NGT) in the Timmins Camp and strategic positioning as the project operator. A 2013 drilling campaign on the property uncovered 210.19 g/t gold over 12.5 meters.
Metal Creek’s management team combines years of experience in the mineral exploration, geology and financial sectors. The company’s diverse shareholder portfolio and strategic partnerships also position the company for exceptional acquisition opportunities, economic growth and expansive gold mining success.
The Dona Lake Gold project is one of Metal Creek’s flagship gold properties, and it is located in the Pickle Lake area of Northern Ontario. The property hosts high-grade gold within its widespread banded iron formation structures and leverages favorable mining conditions.
This project is Metal Creek’s second option agreement with Newmont Corp. The company has the option to earn 100 percent ownership of the projects with the issuing of seven million shares and spending of C$4 million over three years.
The company has already completed a successful drill program for the project. This program’s results have confirmed gold mineralization outside of current mined areas and potentially deeper gold mineralization. Present grades have hovered as high as 8.37g/t gold in all three targets.
Past-producing history on the property indicates the production of 246,500 ounces of gold priced at US$375 an ounce before mine closures in 1994. Metals Creek expects to continue drilling campaigns into depths below current mine workings.
The Ogden gold property covers 8 kilometers of strike length on the Porcupine-Destor Break in Ogden Township, Ontario. Metals Creek Resources and Newmont have formed a 50/50 Joint Venture Agreement on the property, with Metal Creeks as the operator. The property has the potential to mimic successful gold production levels reaching 17 million ounces of gold as seen by its eastern neighbors.
Ogden hosts six mineralized gold zones and a historic non 43-101 compliant resource of one million tonnes at 4.12 g/t gold. A 2013 drilling campaign uncovered 210.19 g/t gold over 12.5 meters. In 2017, the company reported 4.39 g/t gold grades over 12.45 meters after drilling the target TOG-17-53 on the property.
Exciting discoveries of visible gold in the core have prompted additional investment interests and points to fold structure orientations that could correlate to high-grade gold mineralization. Metals Creek intends to expand drilling to explore this project’s potential further.
Alexander “Sandy” Stares comes from a family with a long line of prospectors. He has in excess of 25 years experience in mineral exploration, spanning a variety of Canadian geological terranes, from Newfoundland to Yukon. He has also completed several tours prospecting in Indonesia and Mexico. He was instrumental in the discovery of the H-Pond Gold Prospect and the Lost Pond Uranium Prospect. He also discovered numerous major mineral occurrences in Canada and abroad which have been the subject of extensive exploration programs. Sandy assumed the role of President and CEO of Metals Creek Resources Corp.in December of 2007. He is also a Director of Leocor Gold Inc White Metal Resources Corp and a Director of the Qalipu Development Corporation. In February 2013, Sandy was awarded the Queen Elizabeth II Diamond Jubilee Medal for his dedication to his Peers, Community, Canada and the Prospecting Community. He was also one of the recipients of the PDAC “Bill Dennis Prospector of the Year” Award in March 2007, which was awarded to members of the Stares/Keats family. Prior to his exploration career, Mr. Stares served in the Canadian Air Force for 15 years and was awarded the Deputy Commander in Chief of NORAD “Certificate of Achievement” Award for exceptional performance.
Michael MacIsaac brings to Metals Creek Resources over 33 years of exploration and management experience. He received his B.Sc from Lakehead University and has a Professional Geoscientist (P.Geo) designation from the Association of Professional Geoscientists of Ontario. MacIsaac’s vast experience entails both grassroots and advanced projects across Canada in gold, base metal and PGE environments. His expertise includes base metal exploration with Noranda Exploration in the Geco and Mattabi Mining Camps, gold exploration in the prolific Hemlo and Red lake Gold Camps and PGE exploration for North American Palladium in Northern Finland and Northwestern Ontario.
MacIsaac’s vast background in different metallogenic terranes and exploration techniques will help this young company poised for growth attain its strategic objectives through quality acquisitions and sound exploration.
Wayne Reid has over 35 years of experience in exploration and mining geology, spanning various Canadian geological terranes, from Newfoundland to Northern BC and Alaska. Reid was instrumental in discovering the Brewery Creek Gold Deposit in the Yukon Territory and the Boundary Massive Sulphide Deposit / Duck Pond Mine in Central Newfoundland. His experience includes gold, base metal and uranium exploration in most geological environments in North America. Reid has over 20 years with the Noranda / Hemlo group in district and regional manager capacity in several areas across Canada. He has over 10 years of experience in the Timmins camp with as a Canadian manager with Echo Bay Mines, and as an exploration manager with St. Andrew Goldfields. Most recently, he was vice president of Exploration for Ucore Uranium.
Nikolaos S. Tsimidis is an entrepreneur and a specialist in the financial aspects of real estate investments. He graduated with a Bachelor of Commerce from the University of Toronto in 1987. Upon graduation, he spent six years at KPMG in the audit department, providing various client services. In September 1993, Tsimidis left KPMG to set up his own chartered accounting firm, focusing on tax and financial planning. He is the CFO and the principal broker for Union Capital Management Inc and Haven Property Development Inc. Tsimidis has also been intimately involved with mortgage origination and real estate development projects. He is the CFO and a director of Bold Stroke Ventures.
Michael Stares has been a successful entrepreneur with 50 percent ownership in Stares Contracting Corp., and he is president and CEO of White Metal Resources. Stares’ background comes from over 30 years of prospecting, eight years for Noranda Exploration, having a fantastic track record for new discoveries. Alongside the Stares-Keats family of prospectors, Stares was the honored recipient of the Bill Dennis Prospector of the Year Award at the 2007 PDAC Conference. He currently serves as a Benton Resources Corp director.
Pat Mohan is president and CEO of the Mohan Group. Mohan has worked in the marketing, advertising and promotions field for over 20 years. In 1986, he founded The Mohan Group. He has been the driving force behind its growth from a fledgling firm to one of Canada’s fastest-growing and best-respected advertising and marketing companies. Mohan is also a director with Trelawney Mining and Exploration Inc.
Malvin Spooner was the founder, president, CEO and director of Mavrix Fund Management Inc., an award-winning investment management company with mutual and other funds distributed across Canada until acquired in 2009. He has been a portfolio manager for over 25 years in the Canadian financial services industry. He introduced and was responsible for a successful series of tax-advantaged limited partnerships in more recent years, which invested over half a billion dollars in junior mining exploration companies. Spooner has appeared frequently on television and in print media as an investment expert over his entire career and is a widely respected professional.
Lorne Woods graduated from Concordia University in 1986 with a BA, majoring in Political Science. He served as a chair, board member, and director for Concordia University Alumni Association. He co-founded Judson Woods back in 1987 with a partner to work with a large group of small mining companies. The company’s principal business started with creating and producing advertising to assist in marketing clients to the investment community. It also specialized in investor relations, promoting its clients’ assets and projects to the financial media and investing public.
Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce results for 3 holes of a nine (9) hole diamond drill program (See News Release February 7, 2022) on the Ogden Gold Project in Timmins, Ontario. The Ogden Gold Project is a 5050 Joint Venture with Newmont Corporation ("Newmont"), with the Company serving as the operator.
Drilling primarily focused on the Thomas Ogden Zone (TOG) with two peripheral targets also tested. Drilling at TOG targeted potential flat lying quartz bearing structures and zones of albitization and silicification with associated mineralization within the lowermost portion of the currently defined TOG fold structure. High grade gold mineralization has a strong preferential association with the TOG fold axis which has a shallow plunge to the east.
Highlights of the drilling include:
TOG-22-71 returned a downhole intercept (324.63 - 336.77m) of 1.13 grammes per ton (g/t) gold (Au) over 12.14 meters (m), visible gold was noted in this intercept. A second zone of mineralization (284.95 - 286.00m) was intercepted returning 12.3 g/t Au over 1.05m.
This hole was drilled to further define gold mineralization associated with the TOG fold structure (See attached Schematic Cross Section 1200W Fig. 1). This zone contains moderate to strong albitization, strong silicification and local fuchsite within an altered felsite unit. Fine-grained disseminated cubic pyrite is the dominant sulfide throughout as well as locally within white quartz-carbonate veinlets. Pyrite ranges from 1-5%, with trace arsenopyrite and several fine specks of visible gold.
TOG-22-72 returned a downhole intercept (354.34 - 356.35m) of 4.71 g/t Au over 2.01m. A second zone of mineralization was cut (373.00 - 376.40m) returning 1.67 g/t Au over 3.4m. This hole (See attached Schematic Cross Section 1175W Fig. 2) was drilled 25m east of hole TOG-21-65A which returned a downhole intercept of 9.20 g/t Au over 4.47m (See News release January 27, 2022) to facilitate a better understanding of potential shallow dipping gold mineralization associated with secondary structures. Alteration consists of moderate to strong albitization and silicification within an altered conglomerate unit with local fuchsite. Fine-grained disseminated cubic pyrite occurs throughout and locally within white quartz-carbonate veinlets. Pyrite ranges from 1-5% along with trace arsenopyrite.
TOG-22-73 returned a downhole intercept (346.25 - 351.86m) of 4.24 g/t Au over 5.61 m. This hole (See attached Schematic Cross Section 1225W Fig. 3) was drilled 25m west of hole TOG-21-65A which returned a downhole intercept of 9.20 g/t Au over 4.47m (See News release January 27, 2022). Like that of hole TOG-22-72, this hole was drilled to further define shallow dipping gold mineralization associated with secondary structures. A strongly altered felsite of intense albitization and silicification with associated wispy fuchsite alteration was intersected with fine-grained disseminated cubic pyrite throughout. Pyrite ranges from 1-5%with trace arsenopyrite and local fine specks of visible gold.
Drill intercepts are core lengths and true width will be approximately 70 to 80% of drill intercept length. Further results will be released once received and compiled.
Remaining holes will be released once they are received and compiled.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
Drill hole locations are provided in the map below (Fig. 4).
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_002full.jpg
Michael MacIsaac, P. Geo and VP Exploration for the Company and a Qualified Person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
About Metals Creek Resources Corp. -
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont, including the past producing Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont, under which Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax: (709)-256-6061 email: astares@metalscreek.com www.MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_003full.jpg
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_004full.jpg
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_005full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134221
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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce additional diamond drill results from drill holes DL22-029, 030 and 031 of the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).
Hole DL22-029 continues to demonstrate the continuation of high-grade gold mineralization within the main zone stratigraphy, below the 455 level of the past producing Dona Lake Gold mine (See Figure 1, Schematic Long Section and Figure 2, Schematic X-Section). Hole 029 intersected the Main Zone stratigraphy 499 meters below surface and returned a core length intercept of 11.80 grammes per ton (g/t) gold (Au) over 3.66 meters(m) (539.47-543.13m). This was a part of a broader zone of mineralization of 6.38g/t Au over 11.33m (531.80-543.13m). Mineralization was hosted within a silicate sulfide iron formation with 0.5 to 25% pyrrhotite and local pyrite with associated grunerite and garnets. Visible gold was noted in this intercept. A second zone of mineralization was intercepted 516m below surface, which returned a core length intercept of 36.21 g/t Au over 2.47m, (558.63-561.10m). This second zone of mineralization is also within the main zone stratigraphy and is separated from the noted intercept above by 11m of felsic dike material. It is hosted within a moderately foliated and chloritized iron formation with 1-20% pyrrhotite and 2-10% pyrite. Visible gold was also noted in this intercept.
A third zone of high-grade gold mineralization was intercepted 54m east (in the hanging-wall) of the main zone iron formation within quartz stockwork returning a grade of 67.10g/t Au over 0.28m (470.35-470.63m) (See Figure 2, Schematic X-Section). This high-grade veining was intercepted 435m below surface and is hosted within sheared mafic volcanic adjacent to an intermediate dike. Significant visible gold (30 specks) was observed in association with moderate alteration consisting of sericite and 1-2% disseminated pyrite.
Select pieces of drill core from DL22-029 will be available for viewing at MEK booth # 2640 during PDAC, 13-15 June, 2022 .
Two additional holes were drilled testing peripheral iron formations outside the Dona Lake mine stratigraphy. These holes were planned to better define the orientation and composition of these iron formations. Hole DL22-030 tested the northwest iron formation (See attached Figure 3, Drill Hole location map) returning a core length intercept of 0.66 g/t Au over 9.10m (71.00-80.10m). Mineralization was hosted within silicate-oxide iron formation with trace to 3% pyrrhotite. Hole DL22-031 returned no significant results (NSA) within a chert rich iron formation with local seams of massive pyrrhotite. This hole was drilled east of the Dona Lake mine.
The phase III diamond drill program has successfully defined additional high-grade gold mineralization south of the Dona Lake mine workings. Deeper drilling targeting stratigraphy below the lowermost mine workings has extended high-grade gold mineralization down plunge to a vertical depth of 753m (See news release April 5, 2022). Recently reported drill hole DL22-025 returned a high-grade down hole intercept of 8.11 g/t over 9.51m. This hole represents the deepest hole to date on the Dona Lake property with gold mineralization remaining open at depth.
Figure 1 Schematic Longitudinal To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/943/127066_a8a20679f4ff7a0c_003full.jpg
Figure 2 Schematic Cross-section To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/943/127066_a8a20679f4ff7a0c_004full.jpg
Figure 3 Drill Hole location Map To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/943/127066_a8a20679f4ff7a0c_005full.jpg
True thickness is 70-80% of drill intercept length.
The Dona Lake Gold Project was optioned from Newmont Corporation (previously Newmont Goldcorp - see news release dated 13 June 2019) and is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine. Dona Lake is accessible by an all-weather road southeast from the Town of Pickle Lake. The Project consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,122 hectares and covers the past producing Dona Lake Mine.
Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration Company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation,
where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.
Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax: (709) -256-6061 email: astares@metalscreek.com www.MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127066
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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce additional diamond drill results from drill hole DL22-028 of the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).
Results from drill hole DL22-028 continue to define gold mineralization within main zone, south of the mine workings as well as intercepting mineralization within B-Zone at the past producing Dona Lake Gold mine. This hole targeted main zone stratigraphy outside the currently defined mineralized envelope, extending gold mineralization an additional 30m south within the deeper portion of the mineralized iron formation (See Figure 1, Schematic Long Section and Figure 2, Schematic X-Section) This hole intersected the Main Zone stratigraphy 424 meters below surface and returned a core length intercept of 2.56 grammes per ton(g/t) gold (Au) over 6.14 meters(m) ( 464.61 - 470.75m). This was a part of a broader zone of mineralization of 1.50 g/t Au over 18.00m (458.00 - 476.00m). A second zone of mineralization was intercepted (B-Zone) 473m below surface, which returned a core length intercept of 2.05 g/t Au over 9.11m, included in this is 8.88 g/t Au over 1.45m (See Table 1 Significant Results, Figure 2 Schematic X-section). Mineralization within the main zone intercept is hosted within silicate-sulfide iron formation and characterized by stringer to locally disseminated pyrrhotite ranging from 1 to 5% with local pyrite. Magnetite rich sections with local pyrrhotite stringers are locally present. The B-Zone intercept is characterized by trace to 15% disseminated to stringer pyrrhotite with minor pyrite. B-Zone has seen limited drilling historically and represents a prospective target that remains open at depth.
This phase III diamond drill program has successfully defined additional high-grade gold mineralization south of the Dona Lake mine workings. Deeper drilling targeting Main Zone stratigraphy below the lowermost mine workings has further extended high grade gold mineralization down plunge to a vertical depth of 753m (See news release April 5, 2022) from recently reported drill hole DL22-025 returning a high-grade down hole intercept of 8.11 g/t over 9.51m. This hole represents the deepest hole to date on the Dona Lake property with gold mineralization remaining open at depth.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/943/124342_553a0883242d1b3d_002full.jpg
Figure 2 Schematic Cross-section To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/943/124342_553a0883242d1b3d_003full.jpg
True thickness is 70-80% of drill intercept length.
Assays are pending for 3 drill holes at Dona Lake, results will be released once they are received and compiled. In addition, assays from Ogden drilling will be released once they are received and complied.
The Dona Lake Gold Project was optioned from Newmont Corporation (previously Newmont Goldcorp - see news release dated 13 June 2019) and is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine. Dona Lake is accessible by an all-weather road southeast from the Town of Pickle Lake. The Project consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,122 hectares and covers the past producing Dona Lake Mine.
Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration Company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation,
where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.
Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax : (709) -256-6061 email : astares@metalscreek.com www.MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124342
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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce additional diamond drill results for drill hole DL22-027 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).
Results from drill hole DL22-027 continue to further define high grade gold mineralization south of the mine workings at the past producing Dona Lake Gold mine. This hole intersected the Main Zone stratigraphy 368 meters below surface and returned a core length intercept of 5.18 grammes per ton(g/t) gold (Au) over 5.33 meters(m) (403.45 - 408.78m). This was a part of a broader zone of mineralization of 2.64 g/t Au over 27.90m (399.95 - 427.85m). (See Table 1 Significant Results, figure 1 Schematic Longitudinal and figure 2 schematic x section). Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to locally disseminated pyrrhotite ranging from 1 to 4% with local pyrite. Magnetite rich sections with local pyrrhotite stringers are also present. Aside from pyrrhotite mineralization, alteration consists of strong hornblende and grunerite with local garnet alteration.
This phase III diamond drill program has successfully defined additional high-grade gold mineralization south of the Dona Lake mine workings. Deeper drilling targeting Main Zone stratigraphy below the lowermost mine workings has further extended high grade gold mineralization down plunge to a vertical depth of 753m (See news release April 5, 2022) from recently reported drill hole DL22-025 returning a high-grade down hole intercept of 8.11 g/t over 9.51m. This hole represents the deepest hole to date on the Dona Lake property with gold mineralization remaining open at depth.
To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/943/121531_65412c43f4d3fa79_002full.jpg
To view an enhanced version of Figure 2, please visit: https://orders.newsfilecorp.com/files/943/121531_65412c43f4d3fa79_003full.jpg
Drill intercepts are core lengths and are believed to be 70-80% true thickness.
Assays are pending for 4 drill holes at Dona Lake, results will be released once they are received and compiled. In addition, assays from Ogden drilling will be released once they are received and complied.
The Dona Lake Gold Project was optioned from Newmont Corporation (previously Newmont Goldcorp - see news release dated 13 June 2019) and is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine. Dona Lake is accessible by an all-weather road southeast from the Town of Pickle Lake. The Project consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,122 hectares and covers the past producing Dona Lake Mine.
Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration Company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.
Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax: (709) -256-6061 email: astares@metalscreek.com www.MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121531
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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce diamond drill results for drill hole DL22-025 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).
Results from drill hole DL22-025 is the deepest intercept to date from Dona Lake drilling. This hole intersected the Main Zone stratigraphy 753 meters below surface and 299 meters below the lowermost mine working (455 Level) returning a core length intercept of 14.10 grammes per ton (g/t) gold (Au) over 3.97 meters (m) (798.35 - 802.32m). This was a part of a broader zone of high-grade mineralization of 8.11 g/t Au over 9.51m (792.81 - 802.32m). (See Table 1 Significant Results and figure 1 Schematic Longitudinal, figure 2 Schematic Section). This hole clearly demonstrates the continuation of the main zone iron formation down plunge. The continued presence of strong to intense alteration with associated strong pyrrhotite mineralization is a further indication the mineralizing system remains very strong at depth and continues to validate the current geological model that gold bearing iron formations can be quite laterally extensive. Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to locally disseminated pyrrhotite ranging from 3 to 25% with local pyrite. Aside from pyrrhotite mineralization, strong to intense alteration consists of strong hornblende, garnet and grunerite with significant overprinting of primary bedding structures. DL22-025 was drilled to test the interpreted center of the plunge line, piercing approximately 78 meters below the previously reported deepest hole DL22-024, which returned a core length intercept of 8.82 g/t Au over 3.90m. This was a part of a broader zone of mineralization of 3.42 g/t Au over 19.61m. (see MEK news release dated 24 March 2022 and Figure 2 Schematic Section DL21-025).
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/943/119306_bd14793934f3388e_002full.jpg
Figure 2 Schematic Section DL22-025
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/943/119306_bd14793934f3388e_003full.jpg
Alexander (Sandy) Stares, President and CEO of Metals Creek States "DL22-025 clearly demonstrates the continuation of high-grade mineralization at depth with similar strong alteration and mineralization to that of other high-grade intercepts previously reported. Our geologists have done a tremendous job targeting the Banded Iron Formation below existing drilling."
Drilling is ongoing and will continue to target the mine stratigraphy as well as test peripheral targets which include the North West Zone and the East Iron Formation.
Drill intercepts are core lengths and are believed to be 70-80% true thickness.
Assays are pending for 5 drill holes at Dona Lake, results will be released once they are received and compiled. In addition, assays from Ogden drilling will be released once they are received and complied.
The Dona Lake Gold Project was optioned from Newmont Corporation (previously Newmont Goldcorp - see news release dated 13 June 2019) and is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine. Dona Lake is accessible by an all-weather road southeast from the Town of Pickle Lake. The Project consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,122 hectares and covers the past producing Dona Lake Mine.
Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration Company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.
Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax : (709) -256-6061 email : astares@metalscreek.com www.MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119306
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GCM Mining Corp. ("GCM Mining" or the "Company") (TSX: GCM, OTCQX: TPRFF) announced today that the Company has received positive recommendations from both Institutional Shareholder Services ("ISS") and Glass Lewis & Co., LLC ("Glass Lewis") in support of the proposed plan of arrangement of GCM Mining and Aris Gold Corporation ("Aris Gold") announced on July 25, 2022.
ISS and Glass Lewis are leading independent, third-party proxy advisory firms who provide proxy voting recommendations to pension funds, investment managers, mutual funds, and other institutional shareholders.
In making their recommendation, ISS commented:
"The transaction makes strategic sense as the arrangement will create a combined company with a balanced portfolio of operating and development assets with increased scale and diversification, significant free cash flow to unlock shareholder value, and involves potential cost reduction synergies of approximately $10 million per year. In addition, the at-market-value merger is expected to provide the combined company with an opportunity to re-rate its share price, improved balance sheet and enhanced capital markets profile. In light of the reasonable strategic rationale and streamlined corporate structure with direct realizable synergies, shareholder approval of this resolution is warranted."
"In conclusion, we find the proposed arrangement both strategically and financially compelling, structured in a reasonable manner for GCM shareholders. The board appears to have formed a reasonable basis in determining that the acquisition of Aris Gold represents the best path forward to enhance shareholder value. The combined company will have complementary assets, enhanced financial and operational scale, a seasoned management team and board, and various opportunities to realize incremental value for shareholders. In sum, we believe shareholders are likely to realize greater value following the transaction than would otherwise be delivered under the Company's status quo. Moreover, having reviewed the terms of the transaction, we believe the all-stock merger consideration represents a reasonable and fair price for GCM to pay, considering the complementary nature of the assets and the prevailing market and transaction valuations recently observed in the gold mining industry. Therefore, we believe the proposed transaction represents an appropriate use of the Company's equity capital, given the value-creation opportunity presented by the transaction. Based on these factors, along with the support of the board, we believe the proposed share issuance for the acquisition is in the best interests of shareholders."
The GCM Mining shareholder meeting will be held virtually via live audio webcast at https://virtual-meetings.tsxtrust.com/1397 on September 19, 2022 at 8am PDT/11am EDT. GCM Mining shareholders requiring assistance may contact GCM Mining's proxy solicitation agent, Morrow Sodali (Canada) Ltd., as follows:
GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is the leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations. Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024. GCM Mining has equity interests in Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato, Soto Norte; Canada - Juby), Denarius Metals Corp. (~32%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).
Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com .
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the transaction, the proposed plan of arrangement and GCM Mining's shareholder meeting, and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2022 and the joint management information circular of the Company and Aris Gold dated August 16, 2022 which are available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact: Mike Davies Chief Financial Officer (416) 360-4653 investorrelations@gcm-mining.com
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September 8, 2022 Nexus Gold Corp. (" Nexus Gold " or the " Company ") (TSXV:NXS ) ( OTCQB:NXXGF ) ( FSE:N6E) is pleased to announce that it has received court approval by way of a final order granted by the Supreme Court of British Columbia for the completion of its arrangement (the " Arrangement ") involving the spinout of Nexus Metals Corp. (" Nexus Metals ") and its Canadian resource projects to shareholders.
In anticipation of completion of the Arrangement, the Company has transferred all of its rights to the Canadian projects to Nexus Metals. A total of 45,390,465 shares of Nexus Metals will be distributed on a pro rata basis to shareholders of the Company, pursuant to the Arrangement. Based on the current outstanding share capital of the Company, it is anticipated that this will result in Nexus Gold shareholders receiving approximately one Nexus Metals share for every seven shares of the company they hold. Completion of the arrangement remains subject to approval of the TSX Venture Exchange.
The Company shall in due course determine the record date for the purpose of determining the Nexus Gold shareholders entitled to receive Nexus Metals shares under the Arrangement. A letter of transmittal will in due course be mailed to each Nexus Gold shareholder and be made available under Nexus Gold's profile on SEDAR.
Further information regarding the Arrangement is available in the Company's management information circular dated June 7, 2022, a copy of which is available under the Company's profile on SEDAR ( www.sedar.com ).
"This was an important step in moving our plan forward," said CEO, Alex Klenman. "We'll establish the record date for determining the new shareholders in Nexus Metals over the next week or two, with the intent to have that record date occur here in the month of September. Basically, the amount of shares of Nexus Gold owned on that record date will determine the amount of shares one receives in the new company. We're more than eager to get this spinout completed and move forward with two viable exploration companies with very specific mandates. We will issue more updates as we progress, including upcoming exploration plans," continued Mr. Klenman.
The Company also advises it is continuing with its due diligence process in regard to the acquisition of one or more projects for both Nexus Metals and Nexus Gold. The Company is focused on adding energy/battery metals (i.e., lithium, lopper, nickel, etc) projects to Nexus Metals, while continuing to focus on precious metals (gold, silver) projects in Nexus Gold. Project portfolios of Nexus Metals and Nexus Gold will be adjusted over time to reflect the more specific focus of each company.
Nexus Hires Milad Zareian as VP, Operations
The Company is also pleased to announce that Milad Zareian has been appointed Vice President, Operations. Mr. Zareian brings over 10 years experience working with both private and public companies in a variety of capacities. He's been directly involved with IPO, RTO and start-ups, having led financing, IR and business development initiatives for multiple companies.
"We're pleased to bring Milad on board," said CEO, Alex Klenman. "He has energy, drive, and has built an impressive global contact list, all of which will benefit Nexus Gold moving forward. The board looks forward to working with Milad over the coming months as we complete the spinout transaction for Nexus Metals and as we position Nexus Gold for its post-spinout plans," continued Mr. Klenman.
Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. The Company's primary focus is on its 100%-owned, Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the McKenzie Gold Project, located in Red Lake, Ontario. The Company is focusing on the development of its core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
info@nexusgoldcorp.com www.nexusgoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
Copyright (c) 2022 TheNewswire - All rights reserved.
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NV Gold Corporation (TSXV:NVX) (OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce its intended plans for the 2022-2023 exploration and drilling program for its six highest priority projects in Nevada. The Company has secured a drill rig and has initiated drilling at its Sandy Project
Additionally the Company is in the process of completing a detailed strategic analysis and field investigation of the 31 targets identified by Goldspot Discoveries Corp's ("Goldspot") review of NV Gold's Data Library using its proprietary AI technology (see press release dated August 11, 2022 on the Company's website at www.nvgoldcorp.com). This review is intended to identify longer term prospective projects to continuously add to NV Gold's project pipeline. NV Gold holds one of the largest, most prolific land packages in Nevada, arguably the best gold mining jurisdiction in the World.
Highlights of the exploration programs by project are as follows:
Thomas Klein, VP Exploration commented, "I am excited about the exploration program we have in front of us. For the past two years, it has been challenging to engage drill rigs in Nevada with qualified teams. We are fortunate to have recently engaged Envirotech to commence our 2022-2023 exploration program. We have priority targets on several projects and expect significant field activity with respective news flow over the course of the next several months. I am optimistic that we could have several significant discoveries. Additionally, the targets identified by Goldspot provides a portfolio of high potential targets to add to our already large land package in Nevada."
John Seaberg, NV Gold's Chief Executive Officer added, "NV Gold is at a pivotal juncture in its evolution. We have amassed a significant portfolio of high priority gold properties in Nevada and are excited to test their potential, many of which have never been drilled before. We will be very active over the course of the next several months as we begin to unlock the hidden value of these properties.
Diagram one- Project Landing Page
About NV Gold Corporation NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on making significant gold discoveries in Nevada through well-planned and executed exploration activities. The Company aims to quickly evaluate and advance mineral opportunities to drill-ready stage utilizing its widely recognized and experienced technical team and its extensive historical data.
On behalf of the Board of Directors,
John Seaberg Chief Executive Officer
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
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.
Forward Looking Statements This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's identification of new target areas, the potential of these targets, the timing and extent of exploration activities and the anticipated outcome, are forward-looking statements that involve various risks and uncertainties. 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. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the extent to which mineralized structures extend on to the Company's Projects, the extent to which other promising geological features predict mineral deposits and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
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GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") has doubled the size of its Smoke Mountain land position from 4,190 hectares to 8,645 hectares based on preliminary results from geological, geochemical and geophysical surveys conducted during the 2022 Smoke Mountain summer exploration program.
GoldHaven CEO, Justin Canivet reports "Preliminary results from work at Smoke Mountain confirm the gold and copper potential of the Project . The distribution of favourable host rocks coupled with newly defined geochemical anomalies drove the decision to add additional ground, more than doubling GOH's land position and significantly strengthening our presence in the highly endowed Central British Columbia Copper-Gold Belt ."
GoldHaven's recently enlarged 8,645 hectare Smoke Mountain property is strategically situated within an extensive 85 kilometre polymetallic belt that is highly prospective for gold-silver-zinc epithermal systems, porphyry copper-gold deposits, as well as gold and silver-rich magmatic-hydrothermal occurrences . The property is road accessible from Houston via a series of gravel forest service roads off Highway 16.
Exploration activity in the area has been renewed in this historic mining region , propelled by the ongoing expansion of advanced exploration projects and mines including:
Note: the mines and advanced exploration and development projects in the Central BC porphyry-epithermal provide geologic context for the Smoke Mountain Property, but this is not necessarily indicative that the Smoke Mountain Property hosts similar grades or tonnages of mineralization.
GoldHaven has executed a 30 day fieldwork campaign including geological mapping, soil sampling, stream sediment sampling and prospecting/rock sampling as well as airborne LiDAR, MAG, Radiometrics and Z-Tipper Axis Electromagnetic (ZTEM) surveys. All field data is currently being processed and evaluated and final results are expected in Q4, 2022.
The historic Central BC porphyry-epithermal belt is re-emerging as an important copper-gold-silver jurisdiction as evidenced by increased staking activity and exploration drilling. The region is quickly becoming known for its long mineralized drill intercepts including Universal Copper's 216m interval grading 0.54% CuEq ( click here for release) and has the potential to host some of the largest copper-polymetallic discoveries in British Columbia .
In recent news, Surge Copper expanded their Ootsa project by 96% to a total of 439Mt grading 0.32% CuEq ( click here for release) increasing their total mineralized inventory in the southern part of this belt to over 1 billion tonnes (measured and indicated).
These results in the immediate vicinity of GoldHaven's Smoke Mountain project showcase the exceptional regional endowment and metallogenic character of the Late Cretaceous arc rocks hosted within this belt. GoldHaven's exploration upside lies in the 2.5km long untested and under-explored alteration and mineralization trend currently being examined by our field team at Smoke Mountain .
Note: T he adjacent mines and advanced exploration and development projects in the Central BC porphyry-epithermal provide geologic context for the Smoke Mountain Property, but this is not necessarily indicative that the Smoke Mountain Property hosts similar grades or tonnages of mineralization.
Daniel MacNeil , P.Geo, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release. Mr. MacNeil is Technical Advisor to GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior precious metals exploration Company focused on acquiring and exploring highly prospective land packages in both Canada and Chile. GoldHaven maintains a strategic presence in the gold and silver rich Maricunga Gold Belt of Northern Chile which is host to several mining and advanced exploration projects including Salares Norte (Gold Fields), Esperanza (Kingsgate Consolidated), La Coipa ( Kinross ), Cerro Maricunga ( Fenix Gold ), Lobo-Marte ( Kinross ), Volcan (Volcan), Refugio ( Kinross /Bema), Caspiche (Goldcorp/Barrick), and Cerro Casale (Goldcorp/Barrick). The Company has identified a total of 12 high-priority targets at its Alicia and Roma project areas in the Maricunga within a prominent regional NW-SE structural trend along strike from Gold Fields' Salares Norte deposit (5.2 million ounces of Gold 7) . These targets have been designated "High Priority" due to the extent, pervasive alteration, favourable geology, highly anomalous rock geochemical results, and their relative proximity to existing deposits. GoldHaven is also making exploration progress at its Smoke Mountain property ( Canada ) which is strategically located in the Central British Columbia Porphyry-Epithermal Belt in close proximity to Surge Copper's Berg project, as well as its Pat's Pond project in Newfoundland's Central Newfoundland Gold Belt ( Canada ). Pat's Pond is strategically located less than 20km from Marathon Gold's 3.14 Moz 8 Valentine Gold Project and on strike from the Boomerang/Domino VMS deposit. Pat's Pond is highly prospective for gold, copper, silver and zinc and has large scale discovery potential. GoldHaven engages proactively with local and Indigenous rightsholders and seeks to develop relationships and agreements that are mutually beneficial to all stakeholders.
Note: The deposits/mines near GoldHaven's properties provide geologic context, but this is not necessarily indicative that GoldHaven properties host similar grades or tonnages of mineralization.
Justin Canivet , CFA Chief Executive Officer
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE- Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 Giroux, G.H., 2012. MINERAL RESOURCE UPDATE on The POPLAR DEPOSIT, OMINECA MINING DIVISION BRITISH COLUMBIA. Prepared for Lions Gate Metals Inc. Prepared by Giroux Consultants Ltd. Effective Date: March 30, 2012 https://www.universalcopper.com/UNV_Presentation_Web.pdf?a28db
2 Norton, C., Huang, J., and Lui, D., Updated Technical Report and Mineral Resource Estimate on the Berg Project, British Columbia. A NI 43-101 Technical Report prepared by Tetra Tech Canada Inc. EFFECTIVE DATE: MARCH 9, 2021; RELEASE DATE: MAY 3, 2021. https://surgecopper.com/site/assets/files/5735/updated_technical_report_mineral_resource_estimate_on_the_berg_ project-_bc.pdf
3 Christensen, K., Connaughton, G.R., and Ogryzlo, P., 2011. TECHNICAL REPORT ON THE MAIN ZONE OPTIMIZATION HUCKLEBERRY MINE OMINECA MINING DIVISION BRITISH COLUMBIA, CANADA. Prepared for Huckleberry Mines Ltd. and Imperial Metals Corporation November 22, 2011 The effective date of the exploration data is September 1, 2011, Amended May 11, 2016. https://www.imperialmetals.com/assets/docs/2016- hml-43-101-technical-report-on-the-main-zone-optimization.pdf
4 Burga D., Barry J., Grant D., Hutter J., Puritch E., Sutcliffe, R.H., and Wu, Y., 2019. INITIAL MINERAL RESOURCE ESTIMATE AND TECHNICAL REPORT ON THE NUMBER 3 VEIN, SILVER QUEEN PROPERTY, OMINECA MINING DIVISION, BRITISH COLUMBIA, CANADA. Prepared for NEW NADINA EXPLORATIONS LIMITED NI 43-101 & 43-101F1 TECHNICAL REPORT by P&E Mining Consultants Inc. Effective Date: July 15, 2019 Signing Date: August 29, 2019. https://equitymetalscorporation.com/site/assets/files/3673/sq_ni43- 101_aug29_2019.pdf
5 https://sunsummitminerals.com/news/2021/sun-summit-drills-31-6-g-t-gold-over-4-0-metres-including-246-g-t- gold-over-0-5-metres-in-the-trench-zone-and-1-07-g-t-gold-over-109-metres-including-7-17-g-t-gold-over-5-2- metres-in-the-horseshoe-zo/
6 Diakow, L.J., and Drobe, J.R., 1989. The Geology and Mineral Occurrences in the North Newcombe Lake Map Sheet, NTS 093E/14. Open File Map 1989-1 British Columbia Ministry of Energy, Mines and Petroleum Resources Map.
7 Jamasmie, C., 2019. Gold Fields Salares Norte project in Chile granted environmental permit. December 18, 2019, 9:29am. Exploration Intelligence Latin America Gold Silver. https://www.mining.com/gold-fields-salares-norte-project-in-chile-granted-environmental-permit/
This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the intended use of the proceeds received from the Offering, the possible acquisition of the Projects, the Company's expectation that it will be successful in enacting its business plans, 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. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that investor interest will be sufficient to close the Offering, and the receipt of any necessary regulatory or corporate approvals in connection with the Offering and the Assignment, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company's projects and the Company's ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the inability to close the Offering, the inability of the Company to enter into definitive agreements in respect of the Letters of Intent which are the subject of the Assignment, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with certain securities commissions in Canada . All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.
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. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
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ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that it has acquired by staking the Hydra Lithium Project ("Hydra", or the "Project") in the James Bay region of northern Quebec, Canada. Hydra consists of 306 mineral claims in four sub-projects totalling 15,837 hectares (39,134 acres), located in a world-class lithium exploration district that hosts several significant lithium-cesium-tantalum ("LCT") type pegmatites. Hydra is 100%-owned by ALX with no applicable royalties and the newly-staked claims are in good standing until September 2025.
Highlights of ALX's Hydra Lithium Project
ALX's Hydra Lithium Project Claims in the James Bay Region, Quebec
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"Lithium exploration is a natural extension of our pursuit of energy metals in Canada," said Warren Stanyer, CEO and Chairman of ALX. "For a qualified Canadian exploration company, Quebec is one of the most attractive mining jurisdictions in the world. ALX has the opportunity to carry out site visits to Hydra in October 2022 and we are moving quickly to execute a prospecting program with the goal of locating lithium-bearing pegmatites at Hydra."
ALX is compiling geophysical and geochemical data from historical exploration and integrating remote imagery to identify prospective areas. A site visit to ground-truth the Company's interpreted geochemical targets for lithium anomalies is planned in October 2022. Additional work may include high-resolution airborne magnetic and radiometric surveys together with follow-up geochemical surveys in 2023 across the highest-priority areas in order to locate lithium-bearing pegmatite dykes and sills and optimize potential drill targets.
To view maps and further information on Hydra, visit our website at: https://alxresources.com/hydra-lithium/
Hydra consists of four sub-projects totaling 15,837 hectares (39,134 acres) known as Volta (4,806 ha.), Echo (5,537 ha.), Nike (2,056 ha.), and Sprite (3,438 ha.), all located within a fertile mineral exploration district measuring approximately 250 kilometres (north-south) by 400 kilometres (east-west) that is known to host the following existing lithium deposits:
The technical information in this news release has been reviewed and approved by John Charlton, P.Geo., a consultant to ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.
Geostatistics from lithium deposits in the James Bay region quoted in this news release were taken directly from publicly-available disclosure. Management cautions that historical results were collected and reported by operators unrelated to ALX and have not been verified nor confirmed by its Qualified Person, but create a scientific basis for ongoing work in the Hydra project area. Management further cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on ALX's mineral properties.
ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".
ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 220,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.
ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project,the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.
ALX owns 100% interests in four lithium exploration properties staked in September 2022 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada.
ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying VeeNickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.
For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com
On Behalf of the Board of Directors of ALX Resources Corp.
Warren Stanyer, CEO and Chairman
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: ALX's 2022-2023 exploration plans at the Hydra Lithium Project, and ALX's ability to continue to expend funds at that project. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations and Metis communities and the results of such consultations;and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if uranium, lithium, nickel, copper, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Six Months Ended June 30, 2022, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136347
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Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) is pleased to report positive drill results from its ongoing drill program at its Parral project in the State of Chihuahua, Mexico. The high-grade silver results show the potential for resource expansion at depth and along strike in the El Verde and Sierra Plata Deep areas along the Veta Colorada structure. Since April of this year, the Company has drilled over 5,300 meters in 23 holes, totaling 8,100 meters year to date, with the aim to define and extend mineralized zones.
Considerable exploration potential remains along the 35 square kilometre land package and exploration will be on-going, with additional testing for new discoveries with surface mapping and sampling underway. This program will aid the Company's goal to define a mineral resource large enough to support a preliminary economic assessment.
Highlights from Recent Drill Results
Abbreviations include: gpt: grams per tonne; Ag: silver; Pb: lead; Zn: zinc; ETW: estimated true width; m: metre; HW: hanging wall. Silver equivalents are calculated using a silver price of $22 per troy ounce, lead price of $0.90 per pound and zinc price of $1.20 per pound.
"In the areas of the El Verde and Sierra Plata historically mined areas, we continue to verify extensions of the mineralized zones at depth and along strike," stated Dan Dickson, Chief Executive Officer. "The focus for the rest of the year will be to test the northern part of the project with a surface drilling program on various north to south striking structures, such as the northern extension of Veta Colorada, San Alberto and the El Cabezón systems; as well as resuming drilling of the San Patricio vein."
The Parral drill results are summarized in the following tables:
Parral - Veta Colorada El Verde (view Veta Colorada (El Verde) longitudinal section )
Parral - Veta Colorada Sierra Plata Deep (view Veta Colorada (Sierra Plata) longitudinal section )
Qualified Person and QA/QC – Dale Mah, P.Geo., Vice President Corporate Development of Endeavour Silver, is the Qualified Person who reviewed and approved the technical information contained in this news release. A quality control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples are split at the local field office and shipped to ALS Labs, where they are dried, crushed, split and 250 gram pulp samples are prepared for analysis. Gold is determined by fire assay with an atomic absorption finish and silver by aqua regia digestion with ICP finish, over-limits by fire assay and gravimetric finish.
About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal of becoming a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
Contact Information Galina Meleger, VP, Investor Relations Email: gmeleger@edrsilver.com Website: www.edrsilver.com
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Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding future prospects of the Company's mines and projects. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development and risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued exploration and mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
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