American Pacific Mining Corp. (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to announce the filing of a 43-101 technical report (the " Technical Report ") which has been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (" NI 43-101 "), on the Company's Gooseberry Silver Project in Nevada, USA.
The Technical Report, entitled "Technical Report, Gooseberry Property, Storey County, Nevada, USA" and dated August 15, 2022 (effective date of June 15, 2022), has been prepared for the Company by Van Phu Bui, P. Geo., of Azalea Geoservices, who is a "Qualified Person" as such term is defined in NI 43-101. The Technical Report is available on www.sedar.com under American Pacific's profile and on the Company's website at Gooseberry | American Pacific Mining Corp.
Additionally, American Pacific recently received approval from the Bureau of Land Management ("BLM") for the Phase II 2022 drilling program at the Gooseberry Project. Eleven holes are planned for the program scheduled to begin in fall/winter 2022.
Figure 1. Approved Phase II drillholes over CSAMT data at the Gooseberry Project
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"We are excited about the emerging targets at Gooseberry," states American Pacific President, Eric Saderholm. "The targets include extensions of the current Gooseberry Vein and the new Elderberry and Strawberry targets. These new potential veining zones resulted from interpretation of the CSAMT and geochemistry surveys commissioned earlier this year and appear to be roughly parallel to the defined Gooseberry Vein."
Technical aspects of this press release have been reviewed and approved by the designated Qualified Person (QP) under NI 43-101, Eric Saderholm, P.Geo.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer with a core focus on opportunities in the Western United States. The Company's high-grade, past-producing Madison Copper-Gold project is located in Montana, which the Company acquired in 2020. Madison is under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group. American Pacific's portfolio also includes the Gooseberry Silver-Gold Project and the Tuscarora Gold-Silver Project, two high-grade past-producing precious metals projects located in tier one mining jurisdictions in Nevada, USA. The Company's recently announced acquisition of Constantine Metal Resources adds the attractive PEA stage zinc-copper-gold-silver volcanic massive sulphide (VMS) Palmer Project, located in a strategic area of Southeast Alaska (transaction close expected in October 2022).
American Pacific was recently selected as a ‘Deal of the Year' finalist for its Madison transaction and nominated for the ‘Rising Star Company Award' in the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 17 performance categories.
On Behalf of the Board of American Pacific Mining Corp.
"Warwick Smith" CEO & Director Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations Contact: Kristina Pillon, High Tide Consulting Corp., 604.908.1695 / kristina@americanpacific.ca
Media Relations Contact: Adam Bello, Primoris Group Inc., 416.489.0092 / media@primorisgroup.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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American Pacific Mining Corp. (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to announce that Mr. Josh Carron has joined the Company as Vice President Exploration and will be based in Nevada, USA. Mr. Carron is an established geologist with a broad range of experience over twenty years in the global gold exploration industry.
"American Pacific will benefit greatly from Mr. Carron's experience which is highly relevant to our Company's exploration and development objectives," commented CEO Warwick Smith. "He has managed exploration programs leading to numerous significant gold discoveries and much of his work has been focused in Nevada where American Pacific is advancing several projects. One of his initial key mandates will be to review and assess the new projects in Idaho, Arizona and Nevada we have acquired from the pending Constantine Metal Resources transaction."
Mr. Carron's experience ranges from discovery exploration, advanced stage exploration to mine site exploration in various environments, including sediment-hosted gold (Carlin-style mineralization), epithermal gold and silver, porphyry gold-copper, greenstone and skarn systems. His previous company experience with Argonaut Gold, McEwen Mining and Western Pacific Mining where he worked with American Pacific's President, Eric Saderholm, has provided Mr. Carron with high-level skills in geologic mapping, 3D-modeling, project development, GIS data systems, and multiple drilling, logging and QA/QC procedures. Leadership and organizational skills acquired while serving as an officer in the US Army along with technical expertise and creative problem-solving skills developed over more than fifteen years of geologic field experience help to create a valuable team member and a professional team leader.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer with a core focus on opportunities in the Western United States. The Company's high-grade, past-producing Madison Copper-Gold project is located in Montana, which the Company acquired in 2020. Madison is under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group. American Pacific's portfolio also includes the Gooseberry Silver-Gold Project and the Tuscarora Gold-Silver Project, two high-grade past-producing precious metals projects located in tier one mining jurisdictions in Nevada, USA. The Company's recently announced acquisition of Constantine Metal Resources adds the attractive PEA stage zinc-copper-gold-silver volcanic massive sulphide (VMS) Palmer Project, located in a strategic area of Southeast Alaska (transaction close expected in October 2022).
American Pacific was recently selected as a ‘Deal of the Year' finalist for its Madison transaction and nominated for the ‘Rising Star Company Award' in the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 17 performance categories.
On Behalf of the Board of American Pacific Mining Corp.
"Warwick Smith" CEO & Director Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations Contact: Kristina Pillon, High Tide Consulting Corp., kristina@americanpacific.ca
Media Relations Contact: Adam Bello, Primoris Group Inc., 416.489.0092 / media@primorisgroup.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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American Pacific Mining Corp . (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to announce that it is a finalist in five categories for the 2022 Platts Global Metals Awards an annual program of S&P Global recognizing exemplary accomplishments across 17 categories.
Some 110 finalists have been selected from 22 countries for the tenth annual Platts Global Metals Awards. The awards program, operated and hosted by S&P Global Commodity Insights, recognizes and celebrates the best-of-the-best in the metals industry spanning both individual and company achievements.
American Pacific is nominated for:
Winners will be announced at an awards gala in London, UK on October 27, 2022.
American Pacific CEO, Warwick Smith, stated: "We are honored to be recognized in this way by S&P Global and to be nominated for five awards alongside such an established and prestigious group of companies. I am extremely proud of our entire team for this past year's accomplishments during a challenging market environment, with special recognition for the work of President Eric Saderholm. We also thank our shareholders and partners, alongside the Canadian Securities Exchange and OTC Markets, for their support as American Pacific continues to evolve into a highly regarded mining venture worthy to compete at these levels of the industry."
Smith continued, "The Platts Global Metals Awards nominations affirm the continued growth and success at the high-grade, past-producing Madison Copper-Gold Project in Montana in joint venture partnership with Rio Tinto's Kennecott Exploration. The nominations also shine a well-deserved spotlight on our two high-grade properties in Nevada, the Gooseberry Silver-Gold Project and the Tuscarora Gold-Silver Project. Together with our recently announced transaction to acquire the high-grade zinc-copper-gold-silver volcanic massive sulfide Palmer Project in Alaska, which is at the preliminary economic assessment stage, these projects speak to our vision for continued growth this year and beyond."
American Pacific was consistently the number one (#1) performing gold stock in the second half of 2021 based on market capitalization appreciation, as ranked by the Wall Street Journal's mining index (Rising Star Company Award). As well, the Company completed strategic project consolidation at Tuscarora, discovered new parallel vein splays at its past-producing Gooseberry project and continued to see high-grade gold and copper results at the Company's Madison Project.
As a finalist in five categories, American Pacific is among the most nominated companies for this year's Platts Global Metals Awards. Both CEO Warwick Smith and President Eric Saderholm welcome media requests for expert discussion and industry commentary in the mining space. Media inquiries and requests for analyst briefings may be directed to Primoris Group Inc. at media@primorisgroup.com or +1 (416) 489-0092.
"The inaugural Platts Global Metals Awards event was held May 23, 2013, and we're proud that across the years it has become the industry standard for such events," said Sue Avinir, Senior Vice President of Conferences & Advisory Solutions, S&P Global Commodity Insights. "We're also looking forward to celebrating our 10th anniversary of the awards as a fully live experience after virtual and hybrid formats during the pandemic."
For event and program updates, visit https://www.spglobal.com/platts/global-metals-awards
About S&P Global Commodity Insights S&P Global Commodity Insights is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information visit https://www.spglobal.com/commodityinsights .
The Company also announces that it has engaged King World News as its marketing provider for a term of 12 months commencing on May 1, 2022 and has agreed to pay King World News US$37,500 every three months for its services.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer with a core focus on opportunities in the Western United States. The Company's high-grade, past-producing Madison Copper-Gold project is located in Montana, which the Company acquired in 2020. Madison is under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group. American Pacific's portfolio also includes the Gooseberry Silver-Gold Project and the Tuscarora Gold-Silver Project, two high-grade past-producing precious metals projects located in tier one mining jurisdictions in Nevada, USA. The Company's recently announced acquisition of Constantine Metal Resources adds the attractive PEA stage zinc-copper-gold-silver volcanic massive sulphide (VMS) Palmer Project, located in a strategic area of Southeast Alaska (transaction close expected in October 2022).
American Pacific was recently selected as a ‘Deal of the Year' finalist for its Madison transaction and nominated for the ‘Rising Star Company Award' in the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 17 performance categories.
On Behalf of the Board of American Pacific Mining Corp.
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations Contact: Kristina Pillon, High Tide Consulting Corp., kristina@americanpacific.ca
Media Relations Contact: Adam Bello, Primoris Group Inc., 416.489.0092 / media@primorisgroup.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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American Pacific Mining Corp (CSE: USGD FWB: 1QC OTCQX: USGDF) (" APM ") and Constantine Metal Resources Ltd . (" Constantine ") ( TSXV: CEMOTCQX:CNSNF ) announce that they have entered into a definitive agreement (the " Definitive Agreement ") pursuant to which APM will acquire all of the issued and outstanding common shares of Constantine (the " Transaction ") in an all-share transaction, providing Constantine shareholders with an immediate upfront premium of 48.6% based on each company's respective 20-day volume weighted average price ( "VWAP" ).
The combined company will be a premier exploration and development company in the western USA with two projects being aggressively advanced under strategic partnerships with well-respected major metal producers and an expanded portfolio of prospective precious and base metals assets.
Highlights of the Transaction and Strategic Rationale:
CEO of American Pacific Mining, Warwick Smith, stated: "This is a transformational step for American Pacific as the Palmer Project gives us an established PEA-stage asset with a tremendous amount of exploration upside. We are very impressed with the quality of technical work completed by Constantine and Dowa to-date and look forward to collaborating with our new partners and stakeholders to expand resources and realize the full potential of this high-grade VMS system while continuing to deliver exposure to progress and new discoveries across our existing portfolio of highly prospective past-producing exploration projects."
CEO of Constantine Metal Resources, Garfield MacVeigh, commented: "Constantine is pleased to enter into this agreement and our Board unanimously recommends the transaction to shareholders at a significant market premium. We believe American Pacific's focus, financing capabilities and breadth of exploration experience in the US will result in Palmer reaching its full potential. We would like to thank our shareholders, the team at Constantine, our Board and our joint venture partner at Palmer, Dowa, for all their support."
Constantine shareholders will be entitled to receive 0.881 (the " Exchange Ratio ") of a common share of APM for each share of Constantine held (the " Consideration "). All outstanding stock options of Constantine will be exchanged for options of APM and all warrants of Constantine will become exercisable to acquire common shares of APM, in amounts and at exercise prices adjusted in accordance with the Exchange Ratio. The Consideration values Constantine at approximately C$0.43 per share, representing a premium of approximately 48.6% to Constantine shareholders, based on the 20-day VWAP of each company as of the close of trading on August 12, 2022. Upon completion of the Transaction, Constantine shareholders will hold approximately 31.4% of APM shares on an outstanding basis.
The Definitive Agreement for the Transaction includes customary provisions, including non-solicitation, right to match, and fiduciary out provisions, as well as certain representations, covenants and conditions which are customary for a transaction of this nature. The Definitive Agreement provides for a C$850,000 termination fee payable by Constantine to APM in the event of a superior proposal, and a reduced break fee of $500,000 payable in the event of a no-vote by Constantine securityholders in certain circumstances. The Transaction is expected to be completed by way of a court-approved Plan of Arrangement under the Business Corporations Act (British Columbia) (the " Arrangement ") and will be subject to securityholder approval at a meeting of Constantine securityholders, which is expected to take place in October 2022, with the Transaction expected to close shortly thereafter. Under the Definitive Agreement, APM has also agreed to commit to fund C$5,000,000 for the Palmer Project in 2022 in accordance with the approved project program and budget.
Closing of the Transaction is subject to the receipt of applicable regulatory approvals, Constantine securityholder approval and the satisfaction of certain other closing conditions customary for transactions of this nature.
It is anticipated that any securities to be issued under the Arrangement will be offered and issued in reliance upon the exemption from the registration requirements of the U.S. Securities Act of 1933 provided by Section 3(a)(10) thereof. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
Board of Director's Recommendation and Voting Support
The Arrangement has been unanimously approved by the board of directors of both APM and Constantine. Directors and senior officers of Constantine along with certain Constantine shareholders, being Michael Gentile and John Tognetti, holding in the aggregate approximately 27% of the outstanding Constantine shares, have each entered into customary voting and support agreements to, among other things, vote in favour of the Arrangement at the special meeting of Constantine securityholders to be held to consider the Transaction.
McMillan LLP is acting as American Pacific's legal advisor. Agentis Capital Mining Partners is acting as financial advisor to Constantine and Blake, Cassels & Graydon LLP is acting as Constantine's legal advisor.
Agentis Capital Mining Partners has provided a fairness opinion to the Board of Directors of Constantine stating that, as of the date of the opinion, and based upon and subject to the assumptions, limitations and qualifications stated in the opinion, the consideration to be received by the shareholders of Constantine is fair, from a financial point of view, to the shareholders of Constantine.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a gold explorer focused on precious metal opportunities in the Western United States. The Madison Mine in Montana, under option to joint venture with Kennecott Exploration Company, is the Company's flagship asset. The Gooseberry Gold-Silver Project and the Tuscarora Gold Project are two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company's mission is to grow by the drill bit and by acquisition.
About Constantine Metal Resources Ltd.
Constantine is a mineral exploration company led by an experienced and proven technical team with a focus on the Palmer copper-zinc-silver-gold-barite project (the " Palmer Project ") being advanced as a joint venture between Constantine and Dowa Metals & Mining Co., Ltd. ("Dowa"), with Constantine as operator. The Palmer Project is a high-grade volcanogenic massive sulphide-sulphate ("VMS") project located in a very accessible part of coastal Southeast Alaska, with road access to the project and within 60 kilometers of the year-round deep-sea port of Haines.
On Behalf of the Board of American Pacific Mining Corp.
"Warwick Smith" CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations, Meredith Eades: investor@americanpacific.ca Phone: 1-778-833-3962
On Behalf of the Board of Constantine Metal Resources Ltd.
"Garfield MacVeigh" President & CEO
Corporate Office: Suite 320 – 800 West Pender Street Vancouver, BC, V6C 2V6 Canada
For further information please contact: Garfield MacVeigh, President or Michael Vande Guchte, VP Exploration Phone: 604-629-2348. Email: info@constantinemetals.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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 includes certain statements that may be deemed to be "forward-looking information" within the meaning of Canadian securities legislation. All statements in this news release, other than statements of historical facts are forward looking statements, including statements that address our expectations with respect to any anticipated benefits of the Transaction, expectations and funding with respect to the Palmer Project, the closing of the Transaction, the Palmer Project funding, APM's ability to complete the proposed Transaction; Constantine and APM's ability to secure the necessary securityholder, legal and regulatory approvals required to complete the Transaction, the timing of the Transaction, the timing and success of future events or developments of APM or its properties, including with respect to the Palmer Project. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although APM believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, impacts (both direct and indirect) of COVID-19, timing of receipt of required permits, changes in applicable laws, changes in commodities prices, changes in mineral production performance, exploitation and exploration successes, as applicable, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including that data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment. The reader is referred to the APM's filings with the Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
Please Note: Investors are urged to consider closely the disclosures in APM's annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com .
1 See the Amended NI 43-101 Technical Report Palmer Project Alaska, USA ("PEA") prepared by JDS Energy & Mining Inc. dated March 7, 2022 with an effective date of June 3, 2019 under Constantine's profile on SEDAR at www.sedar.com . The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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American Pacific Mining Corp (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to provide an update on drilling and report new results from the CSAMT survey conducted at the Tuscarora Project located in Elko County, Nevada.
Approximately 21 drillholes (~4,000 metres) of reverse circulation (" RC ") drilling has been completed to-date and up to five additional holes will be completed in the coming weeks, including multiple holes to test newly defined vein targets generated from the recently completed CSAMT survey. Additional assay results will be released once received and interpreted.
The CSAMT survey was commissioned to identify sub-surface and hidden silica bodies and quartz vein occurrences throughout the previously untested, newly acquired land package. The survey has identified numerous untested vein occurrences, but two anomalies stand out as very strong quartz responses. Neither of these anomalies has been previously drill-tested in these areas.
Figure 1. 2022 Tuscarora CSAMT Survey Lines with Vein Interpretations and Targets
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Figure 2. King's Vein Target
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Figure 3. Grand Prize and East Pediment Targets
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"The King's Vein and the Grand Prize Vein Intersection with the East Pediment Vein system present us with very strong quartz responses. This is exciting from an exploration standpoint since these are the strongest indicators of untested veins within the entire land package. The Grand Prize/East Pediment is covered with a thin gravel veneer and is reminiscent of the South Navajo Vein response, although much stronger," stated American Pacific President Eric Saderholm. "Our drill plans are currently being adjusted to test these strong anomalies which do not have surface expressions. The Grand Prize Vein has yielded up to 21,032 grams per tonne (" g/t ") gold (" Au ") and 38,820 g/t Au from surface samples. The East Pediment Vein returned a 1.52 metre intercept of 52.37 g/t Au in historic drilling and no drilling has been done at East Pediment since 1998."
Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under National Instrument 43-101.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company's flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the Company acquired in 2020. For this transaction, American Pacific was selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including 'Deal of the Year,' the category in which American Pacific Mining competed. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver project: two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company's mission is to grow by the drill bit and by acquisition.
On Behalf of the Board of American Pacific Mining Corp.
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations Contact: Kristina Pillon, High Tide Consulting Corp., 604.908.1695 / kristina@americanpacific.ca
Media Relations Contact: Adam Bello, Primoris Group Inc. 416.489.0092 / media@primorisgroup.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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American Pacific Mining Corp (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to report high-grade copper and gold assays from both a Phase I rock chip sampling program and recently acquired historic sampling data at the South Lida Project in Esmeralda County, Nevada.
A total of 27 rock samples were collected during the Phase I program from the claim package staked by the Company earlier this year ( see April 5, 2022 news release ). American Pacific controls all lands included within this land package with no underlying royalties or agreements.
High-grade samples, including 11.21% copper (" Cu ") and 4.24% Cu were collected from the eastern portion of the claim package during the recent Phase I sampling program. High-grade samples, up to 10 grams per tonne (" g/t ") gold (" Au "), were collected from the same area by Sirius Exploration in 2008 and the results and assay certificates were recently obtained and verified by American Pacific. The results are shown in Table 1.
Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ecdde4ce-51b3-40f3-908f-697581095157
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"We acquired the archived historic South Lida area sampling data, completed by Sirius Exploration in 2008, and immediately acted by staking the ground containing the higher-grade samples," stated President, Eric Saderholm. "We just received initial Phase I assays which returned highly encouraging grades confirming strong anomalous gold and copper mineralization. Samples LDR22-007 and LDR22-008 are of particular interest to us because they contain 11.21% and 4.24% copper in the area where the sample of 10 g/t gold had previously been collected. A follow-up sampling program is in progress to further evaluate this strongly mineralized property."
Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects .
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company's flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the Company acquired in 2020. For this transaction, American Pacific was selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including 'Deal of the Year,' the category in which American Pacific Mining competed. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver project: two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company's mission is to grow by the drill bit and by acquisition.
On Behalf of the Board of American Pacific Mining Corp.
"Warwick Smith" CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / Kristina@americanpacific.ca
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts respon sibility for the adequacy or accuracy of this release.
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ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announced that it has made an application to the TSX Venture Exchange (the "TSXV") to amend the terms of an aggregate of 19,219,733 outstanding share purchase warrants (the "Warrants"), which were issued in connection with a non-brokered private placement (the "Offering") (see ALX news releases dated October 2, 2020 and October 20, 2020).
The Company is seeking to extend the term of the Warrants for an additional year. Warrants issued in the first tranche of the Offering would be extended to October 2, 2023, and the Warrants issued in the second tranche of the Offering would be extended to October 20, 2023. The exercise price of the Warrants will remain unchanged, at $0.10 per Warrant.
The application to extend the expiry date of the Warrants is subject to acceptance by the TSXV.
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: the application for an extension to the expiry time for certain common share purchase warrants. It is important to note that the Company's actual business outcomes could differ materially from those in such forward-looking statements. Risks and uncertainties for the Company 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/137497
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GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") announces that it has prioritized a follow-up campaign including soil grid extensions at newly identified target areas as well as prospecting and mapping of extensive newly acquired contiguous land positions in the belt. Given preliminary results from its summer work program at Smoke Mountain, VTEM and LiDAR airborne surveys for the newly staked ground have also been scheduled for completion in October 2022 .
GoldHaven CEO, Justin Canivet commented "Our exploration results at Smoke Mountain this summer have prompted a high priority follow-up field program . The objective of the campaign is to obtain geologically-based vectors to porphyry and epithermal targets on this highly prospective and exciting property . Lab results and airborne survey interpretation from our summer program are expected in the coming weeks and we look forward to further leveraging these data and adding shareholder value."
GoldHaven has re-engaged Dahrouge Geological Consulting Ltd . to complete a comprehensive follow-up exploration program at Smoke Mountain. This program is focused on extending soil sampling grids at priority target areas defined in the recently completed 2022 summer program. Furthermore, the field work will focus on p rospecting and mapping newly staked contiguous land positions . Detailed geological mapping, along with the soil geochemical work will improve the interpretation of the geophysical datasets and constrain target locations.
GoldHaven has engaged Geotech Ltd. to conduct Helicopter-Borne VTEM TM and Magnetic Geophysical Surveys for the purpose of investigating the mineral potential over the extensive contiguous land position at Smoke Mountain. The proposed survey is approximately 721 line-kms over 1 block with a planned start date of late October . The survey will take 5-7 days to complete with the intention of targeting intermediate sulfidation polymetallic vein systems.
GoldHaven will be benefiting from Geotech Ltd's Versatile Time-Domain Electromagnetic ( VTEM TM ) geophysical system, which is excellent at locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity .
Full waveform recording will also be employed to achieve very clean early-time measurements to effectively resolve near surface structures . GoldHaven will benefit from Geotech's Concentric Transmitter - Receiver geometry, which ensures positive anomaly location and results in huge time and costs savings as there will be no need for ground follow-up. The technology has successfully been deployed globally for targeting work in epithermal precious metal districts.
GoldHaven management seeks to acquire a Multi-Year Area-Based Exploration Permit for drilling in Q2 2023 . The extensive geological, geochemical and geophysical campaigns from 2022 are yielding excellent preliminary porphyry and epithermal-style targets . GoldHaven is planning to carefully evaluate all of the obtained data during late 2022 and early 2023, with the objective of defining drill targets for testing going forward.
GoldHaven's Smoke Mountain land position was recently doubled from 4,190 hectares to 8,645 hectares based on promising preliminary results from geological, geochemical and geophysical surveys conducted during the 2022 Smoke Mountain summer exploration program. The resulting large, contiguous land position defines a commanding land position in an emerging BC porphyry-epithermal belt . Copper, gold, and silver mineralization is extensive in the region with several promising new discoveries and extensions to mineralization (see below).
GoldHaven's 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.
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. Among several emerging targets on the property, GoldHaven is working on a newly-identified 2.5km long untested and under-explored alteration and mineralization trend currently being examined by our field team at Smoke Mountain .
Note: The 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.
On Behalf of the Board of Directors
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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GCM Mining Corp. ("GCM Mining" or the "Company") (TSX: GCM, OTCQX: TPRFF) announced today that its Segovia Operations produced 18,852 ounces of gold in August 2022, up from 17,377 ounces of gold in August last year. This brings the total gold production for the first eight months of 2022 to 139,952 ounces, up from 133,891 ounces in the first eight months last year. Segovia's trailing 12-months' total gold production at the end of August 2022 was 212,450 ounces, up about 3% over 2021. The Company remains on track to meet its annual production guidance for 2022 of between 210,000 and 225,000 ounces of gold.
Benefitting from the completion of the expansion of capacity at its Maria Dama processing plant at Segovia in August 2022, GCM Mining processed a total of 57,073 tonnes in the month, representing a daily processing rate of 1,841 tpd, compared with 50,245 tonnes and 1,621 tpd in August 2021. Segovia's head grades averaged 11.3 g/t in August 2022 compared with 12.0 g/t in August last year. For the first eight months of 2022, a total of 401,394 tonnes (equivalent to 1,652 tpd) were processed at Segovia at an average head grade of 12.0 g/t compared with a total of 365,805 tonnes (equivalent to 1,505 tpd) at an average head grade of 12.7 g/t in the first eight months last year. Production activities in the Company's mines and in the small-scale mines in its Segovia mining title in July and August were impacted by a temporary shortage in the supply of detonators for explosives. The situation is beginning to normalize and this should benefit production through the balance of the year.
The Company also processed an average of 107 tpd of tailings in August 2022 at its polymetallic plant at Segovia resulting in the production of approximately 133 tonnes of zinc concentrate and approximately 106 tonnes of lead concentrate. Payable production from the concentrates in August 2022 is estimated to total approximately 124,000 pounds of zinc, 137,000 pounds of lead, 9,900 ounces of silver and 128 ounces of gold. Actual payable quantities are subject to change and will be finalized once the concentrates are shipped. To date, the Company has produced a total of approximately 926 tonnes of lead concentrate and 1,071 tonnes of zinc concentrate which have been stockpiled. Transportation of the first concentrates to port has commenced this week and the first shipment to the international offtake customer is expected to take place before the end of September.
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 its production and production guidance 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 which is 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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Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce that exploration has commenced at the Company's 100% owned Gander North Property, with initial results now available from its reconnaissance exploration program. The project commenced in late June, with initial prospecting and till sampling. Preliminary efforts have identified numerous evidence for quartz veins, including subcrop and float. Surface samples collected to date have been submitted for assay; and initial results have returned values of up to 885 ppb gold from sub cropping quartz veins, up to 0.15% copper, and up to 26.8 gpt silver from quartz float. Several samples have returned anomalous tungsten, and further analysis is required to confirm the content. Initial results for gold are presented in figure 1. Multiple geophysical targets were identified over the project area earlier this year through review of publicly available datasets, and these will be the focus of ongoing reconnaissance. Detailed work, including systematic sampling and geological mapping will commence this fall to better define targets in advance of drilling. Work permit applications have been submitted for the drill program, and approval is pending
Mr. Karim Rayani, Falcon's Chief Executive Officer, commented, "Excellent progress is being made at our Gander North project, preliminary results are more than just encouraging with surface samples as high as 885 ppb gold. We now have multiple geophysical targets to go after that have been identified - with the help of publicly available data sets, we have now submitted our drill plan application and are awaiting final approval for our inaugural drill campaign. This is an opportunistic time for Falcon, as we have set ourselves apart from our peers. We control a sizeable area of influence totaling 108,000 hectares when combining this with our JV partner Marvel Discovery at Baie Verte and Golden Brook the number jumps to 150,000 hectares making us one of the dominant players on the island. We look forward to reporting back on the remaining sample results with the drill permit news when received."
About the Gander North Property
The Gander North Property is comprised of 406 claims within two blocks covering 10,150 hectares, and is located in two blocks, one immediately south of Gander, Newfoundland (see figure 1), and the second block immediately east of the town. The property occurs within the Gander Zone and is proximal to the
Figure 1 - Initial results from 2022 sampling stations at the Gander North Property.
Dog Bay-Appleton-Grub fault system, a crustal scale zone that extends southwest from the north coast of Newfoundland for nearly 200km to Gander. Structural corridors in central Newfoundland have shown to be intimately associated with recent gold discoveries including New Found Gold's Queensway project located approximately 9km from Falcon's project, an area of considerable potential that made national headlines recently in an article by the Financial Post (https://financialpost.com/commodities/mining/eric-sprott-makes-his-biggest-bet-yet-on-what-he-believes-could-be-the-greatest-gold-discovery-in-the-history-of-canada).
Northeast trending structural lineaments first recognized by Gander Gold have returned spectacular results from soil geochemistry sampling surveys as evidenced with recent published results of 1432 parts per billion gold. These NW trending zones are interpreted to continue onto Falcon's Gander North Property. An interpretation of the regional magnetics show NNE trending, ophiolite bearing thrust faults are cross-cut by a series of brittle NE trending fault-fractures, which indicate a regional setting similar to the highly prospective eastern Exploits Subzone (see figure 2). Gold mineralization models along the Exploits Subzone are based on structural settings analogous to those reported for Fosterville in Victoria, Australia (https://exploitsdiscovery.com/projects/). Tungsten mineralization models indicate a common association with intrusion-related gold deposition that have a genetic association to felsic intrusions, particularly within cratonic margins or back-arc positions relative to continental margin arcs, or within continental collisional settings.
Reference Gander Gold: https://www.stockwatch.com/News/Item/Z-C!SASY-3181872/C/SASY
Greg Robinson, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 14 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
Karim Rayani Chief Executive Officer, Director
Telephone: (604) 716-0551 Email: k@r7.capital
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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First Tellurium Corp. (CSE: FTEL OTC FSTTF ) (the "Company" or "First Tellurium"), reports that the US Department of Energy (DOE) has launched the Cadmium Telluride Accelerator Consortium a $20 million initiative designed to make cadmium telluride (CdTe) solar cells less expensive and more efficient. The Consortium's intent is to spur technological advancements in CdTe manufacturing to help increase America's competitiveness, bolster domestic innovation and advance clean electricity deployment. The initiative augments President Biden's goal of achieving a net-zero economy by 2050.
"This news further supports our efforts to expand and develop the tellurium resource at the Deer Horn Project," said First Tellurium President and CEO Tyrone Docherty. "The demand for tellurium continues to increase, not only for solar cells, but for new battery technology and other applications. Currently the United States imports 95% of its required tellurium."
First Tellurium's Deer Horn Property, located in west-central British Columbia, hosts one of the world's only silver-gold-tellurium properties with an NI 43-101 compliant tellurium resource. The Company is also exploring the Klondike tellurium-gold property in Colorado, a high-grade tellurium prospect held previously by First Solar, Inc., one of the world's largest solar panel producers.
According to 360 Research, the CdTe solar cell market is expected to exceed $10 billion in 2027, more than double the roughly $4 billion in CdTe cells installed in 2021. The United States Geological Survey (USGS) estimates that roughly 40% of tellurium consumed in the U.S. during 2021 went to production of CdTe solar cells.
CdTe solar cells, made from cadmium and tellurium, were first developed in the United States. Today they make up about 20% of the market for solar modules. They offer the lowest cost-per-watt technology , have the shortest energy payback time and are the least carbon intensive in production.
"Major cadmium-telluride manufacturers, and in particular First Solar Inc., will need new amounts of tellurium to meet market needs," said Docherty. "According to the USGS, First Solar already consumes roughly 30% of the world's tellurium production."
First Solar, Inc. (Nasdaq: FSLR), broke ground in August 2021 on its third and largest CdTe solar cell manufacturing facility, located in Ohio.
The new 3.3 gigawatt (GW)DC plant, scheduled to open mid-2023, represents a $680 million investment. When fully operational, the facility is expected to scale the company's Ohio manufacturing footprint to a total annual capacity of 6 GWDC, which is expected make it the largest fully vertically integrated solar manufacturing complex outside China.
First Solar also intends to build its fourth domestic factory, with an annual capacity of 3.5 GWDC, in the US Southeast. The company expects to invest up to $1 billion in the new factory, which, contingent upon permitting and pending approval of various federal, state, regional, and local incentives, is expected to commence operations in 2025.
A December, 2021 report by S&P Global Market Intelligence noted: "First Solar's plan to spend $1.36 billion to help increase module capacity to 16 GW by 2024 seems certain to strain the tellurium market. If the company achieves its goals, its annual demand for the mineral will exceed last year's estimated global production by up to 70%, according to data from a November report by researchers at the Institute of Environmental Science and Technology at the Autonomous University of Barcelona."
Seeing the growing need for domestic supplies of tellurium, Rio Tinto invested approximately $2.9 million to build a plant capable of recovering roughly 20 metric tons of this semiconductive metalloid as a byproduct of the copper produced at its Kennecott Mine in Utah. First Solar has committed to purchasing all the tellurium produced at Kennecott.
"There are so many factors aligning for a robust tellurium market going forward," said Docherty. "With the U.S. pushing heavily to expand North American supply chains, we're positioning First Tellurium strategically to help meet that growing demand."
Presenting at the NAI 500 Resource Conference First Tellurium also reports that it will be presenting at the NAI 500 GCFF Global Resource Investment Conference , September 24th, 2022 at the Richmond Sheraton Hotel. GCFF is pleased to announce the return to in-person attendance for the first time since the pandemic.
FTEL's New Website, Presentation and Video We are also excited to announce the launch of our new website , where you'll find information about our company and properties. In addition, we have also released a new animated pitch deck, which you can find here . This presentation provides an overview of our business and future opportunities. Finally, we have also released a new explainer video, which you can find here . This video dives into the details of our properties and how they can benefit First Tellurium Investors.
Ab out First Tellurium Corp. First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.
Our polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn Project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.
First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event .
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Edgemont Gold Corp. (CSE: EDGM) (FSE: EG8) ("Edgemont") is pleased to announce the assay results from its recent Phase II drill program at the Dungate copper-gold porphyry project, where a total of five holes totaling 2063 metres were drilled in the spring of 2022. Dungate is located 6 km south of the town of Houston in the Omineca Mining Division of B.C.
Highlights from this drilling include:
In addition, additional assaying of Hole 2021-04, drilled in 2021, returned an interval of 55 m @ 0.20 g/t Au (previously reported as 27m @ 0.24 g/t Au).
The target for this drill program was following up on structurally controlled gold zones discovered in the 2021 Phase 1 drill program (see March 28, 2022 news release). These zones were associated with coincident magnetic and IP anomalies within and proximal to a highly altered and sulphide mineralized quartz feldspar porphyry ("QFP") intrusion. QFP was intersected in 4 holes of this Phase 2 program, with hole DG22-08 intersecting a 279 meter zone (261m - 540m) of complete quartz flooded replacement of what is interpreted as intermediate volcanics. Unfortunately, this quartz zone was not mineralized. A map of the drill holes completed at Dungate can be accessed below.
2022 Drill Hole Location Map To view an enhanced version of this map, please visit: https://images.newsfilecorp.com/files/6955/137195_de76900f14802abc_002full.jpg
Gold mineralization was encountered both in the host volcanics adjacent to the QFP and within the QFP intrusive which generally had 2-10% sulphides occurring as disseminations, replacements, fracture fillings, veins, and as breccias. The surrounding volcanic host rock to the intrusion was also variably altered, presumably by the proximity to the QFP intrusive.
Broad anomalous copper and molybdenum intervals were intersected in the heart of the QFP indicating pervasive mineralization, but with no higher grade concentrations (>0.20% Cu) encountered.
Significant drill results are as follows (In general - Gold zones >0.10 g/t Au with anomalous Silver, Copper and Molybdenum):
1 DG21-04 intersection previously reported as 27m @ 0.24 g/t Au (NR March 28, 2022)
Drill results from 2022 have confirmed the structurally controlled gold mineralization indicated in the 2021 program with gold deposition on the periphery of the QFP and into the adjacent volcanic host rocks. In the opinion of Edgemont management, economic intersections of gold have not yet been encountered. Due to the wide spacing of the current drilling it is unknown whether a higher concentration of gold exists lateral to the currently intersected zones. Edgemont continues to assess these latest drill results, along with prior data, and will provide an update on future exploration plans at Dungate in due course.
This news release reports the assay results from five (5) drill holes from which 871 core samples were assayed. The Company inserted certified standards and blanks into the sample stream as a check on laboratory Quality Control (QC). Drill core samples are cut by diamond saw at a core facilities in Houston, BC. A halved core sample is left in the core box. The other half core is sampled and transported by Gold Terra personnel in securely sealed bags to MSALabs in Terrace, BC for crushing and grinding, then transport to MSALabs analytical facility in Langley, BC. Ground and were subjected to 30g fire assay with AA finish (FAS-111) and Multi-element ICP-ES (ICP-130) Aqua Regia analysis (34 elements). MSALabs routinely inserts certified standards, blanks and pulp duplicates, and results of all QC samples are reported.
Because of the wide spacing of drill holes, the orientation of the mineralized zones reported here is not known, and Edgemont has not interpreted true thickness.
The technical information contained in this news release has been approved by Joseph Campbell, P. Geo, a Director of Edgemont, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
Edgemont is actively exploring the Dungate copper/gold porphyry project located just 6 km southeast of Houston, B.C., in a region with a history of successful mining projects including the Equity Silver Mine, Imperial Metals' Huckleberry Mine, and the more recent gold-silver discovery at Sun Summit Minerals' Buck Project which sits just 7 km to the south.
Dungate Location Map To view an enhanced version of this map, please visit: https://images.newsfilecorp.com/files/6955/137195_de76900f14802abc_003full.jpg
Having acquired an interest in its initial claims at Dungate in 2018, the Company now holds five mineral tenures covering 1,582.2 hectares that can be explored year-round by all-season roads. For more information, please visit our website at www.edgemontgold.com.
For further information, please contact: Stuart Rogers Chief Executive Officer Tel: (778) 239-3775 www.edgemontgold.com
Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof. All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently 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 information. In particular, this news release contains forward-looking information regarding risks inherent in exploration activities, including unforeseen delays due to circumstances beyond our control, including weather and other natural phenomena, and financial market and regulatory risks.
The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information. Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated or expected. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137195
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