Calibre Acquires a 100% Interest in the Siuna Gold-Silver-Copper Property in Nicaragua from Centerra GoldJanuary 24, 2019
Property Highlights
On closing of the Transaction, Calibre will own 2.44 million AuEq ounces of Inferred Resources in four deposits on the Borosi gold-silver projects – see web site for details.
Recent diamond drilling at the Cerro Aeropuerto gold-silver deposit completed subsequent to the resource estimate, has returned positive results including both wide mineralized zones and narrower high-grade intercepts including: 2.07 m grading 157.20 g/t Au and 117.7 g/t Ag and 8.12 m grading 22.47 g/t Au and 10.9 g/t Ag in drill hole CA16-022 and 26.03 m grading 6.39 g/t Au and 9.1 g/t Ag in drill hole CA16-020 (see Calibre News Release dated March 22, 2016) and 77.78 m grading 1.09 g/t Au and 13.7 g/t Ag in drill hole CA17-045 (see Calibre News Release dated January 11, 2018). |
Proven ProbableAuthor: admin
VANCOUVER, British Columbia, Jan. 21, 2019 (GLOBE NEWSWIRE) — Granite Creek Copper Ltd. (GCX.V) (“Granite Creek” or the “Company”) announces the appointment of Ms. Alicia Milne as Corporate Secretary, effective immediately.
Ms. Milne has over 20 years’ experience providing corporate secretary, securities compliance and corporate paralegal services to companies listed on the NYSE, TSX and TSX Venture Exchanges, with a focus on the resource sector. She is a member of the Governance Professionals of Canada and is on the Board of Directors of Women in Mining British Columbia.
Mr. Timothy Johnson, President & CEO, stated, “We are very pleased to have Ms. Milne join Granite Creek as we continue to develop our corporate infrastructure. The Company expects to announce further additions to the team over the coming weeks, as well as updates with respect to the Stu project and our 2019 exploration plans.”
About Granite Creek Copper
Granite Creek is a newly-launched copper-focused exploration company. The Company’s flagship project is the 111 square kilometer Stu Copper property located in the Yukon’s Carmacks copper district, adjacent to Capstone Mining’s high-grade Minto Cu-Au-Ag mine and Copper North’s Carmacks Cu-Au-Ag project. More information about the Company and the Stu Copper property can be viewed on the company website at www.gcxcopper.com.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade platinum and palladium, silver and copper producers. Member companies include Group Ten Metals (PGE.V) in the Stillwater PGM-Ni-Cu district of Montana, Metallic Minerals (MMG.V) in the Yukon’s Keno Hill Silver District, and Granite Creek Copper (GCX-H.V) in the Yukon’s Carmacks copper district.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, British Columbia, Jan. 22, 2019 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU:TSX-V) (AUXXF:OTCQX) is pleased to announce that it has optioned-out three projects. Two projects, Bolo and Mogollon, have been optioned to Barrian Mining Corp. (“Barrian”) and one project, Four Metals, has been optioned to Barksdale Capital Corp. (“Barksdale”) (BRO:TSX-V).
“With our focus in the foreseeable future clearly dedicated to our high-impact 6 project discovery drilling campaign, optioning-out certain projects will ensure they are advanced with exploration spending”, said Robert Giustra, Chairman & CEO of ALLEGIANT. “In addition, ALLEGIANT’s annual property holding costs may be reduced by up to $600,000 during the option periods, and the deals could generate up to approximately $3 million in option payments to ALLEGIANT.”
BOLO OPTION AGREEMENT
ALLEGIANT has granted Barrian, a private gold exploration company in the process of completing an IPO, the option to acquire up to a 75% interest in the Bolo gold project, located in Nevada. Barrian can earn an initial 50.01% interest in Bolo by issuing common shares valued at US$1.0 million to ALLEGIANT over a 3-year period, and by incurring exploration expenditures of at least US$4.0 million by December 31, 2022. Barrian can earn an additional 24.99% interest in Bolo, for a total of 75%, by incurring an additional US$4.0 million in exploration expenditures within 2 years of earning the initial 50.01% interest. If Barrian does not earn an additional 24.99% interest in Bolo, it will transfer 0.02% back to ALLEGIANT such that ALLEGIANT will hold a 50.01% interest in Bolo.
Gold mineralization at Bolo is Carlin-type, similar to Pinson, Lone Tree/Stonehouse, and Turquoise Ridge/Getchell, all multi-million-ounce producers, where gold spreads into wall rocks along high-angle structures. Surface sampling at Bolo has defined widespread gold mineralization, associated with jasperoids and iron-stained structures, along two parallel north-south trending faults known as the Mine Fault and the East Fault. Alteration along the Mine Fault has been traced for 2,750 metres, with outcrop sampling returning gold values up to 8.6 g/t gold. The East Fault has been mapped for 2,200 metres and has returned gold values up to 4.7 g/t gold.
The Mine Fault and the East Fault and dozens of altered outcropping and buried cross-faults at Bolo have had very limited drilling and represent excellent exploration targets. An exploration target map can be found at the following link:
www.allegiantgold.com/nr/2019-01-22-targets.pdf
Bolo has the potential to host good grade pods of Carlin-type gold mineralization. At least two such pods have been identified with drilling so far, and as more pods are uncovered, the focus will eventually shift to definition drilling to establish potential for resources.
MOGOLLON OPTION AGREEMENT
ALLEGIANT has also granted Barrian an option to acquire a 100% interest in the Mogollon gold project, located in New Mexico. Barrian can earn a 100% interest in Mogollon by issuing common shares valued at US$1.0 million to ALLEGIANT over a 3-year period.
Mogollon covers an extensive, silver-gold bearing epithermal vein field on a caldera margin of the Tertiary Bursum volcanic center. A number of historical silver-gold deposits are hosted at Mogollon in classic epithermal veins, which demonstrate good continuity of grade and thickness for strike lengths of up to 4,000 ft (1,219 m) in the Little Fanny and Last Chance mines, and through a remarkably consistent, elevation-controlled vertical range of about 1,000 ft (305 m). There are two sets of veins at Mogollon, an east-west set represented by the productive Little Fanny and Last Chance veins, and a north-south set represented by the Queen vein developed in the Consolidated Mine.
Significant intercepts of gold and silver have been encountered in past drilling at Mogollon. Excellent resource expansion potential exists at Mogollon as only 4.8 km of the total 72 km epithermal vein system has been developed.
FOUR METALS OPTION AGREEMENT
In April, 2018 ALLEGIANT granted Barksdale the option to acquire 100% of its interest in the Four Metals project, located in Arizona. To earn the interest, Barksdale must make cash and share payments totaling US$450,000 to ALLEGIANT and its partner MinQuest Ltd., on a 50/50 basis, over a five-year period.
The Four Metals project is located in the Patagonia District 16 km (10 miles) north of Nogales, Santa Cruz County. The Patagonia Range contains a number of undeveloped porphyry copper, breccia copper, and polymetallic vein and replacement deposits within the famous Arizona Porphyry Copper Ore Province.
The Four Metals claims cover the historical Four Metals copper mine which has been intermittently investigated since the 1960’s. Past programs have included underground development, surface and underground core drilling, resource estimates, metallurgical test work, and various investigations of a leach copper mining operation at the site.
The Four Metals copper deposit is hosted within a crudely circular breccia pipe, about 305 m (1,000 ft) in diameter, intruding batholitic granite rocks. Mineralization consists of a shallow zone of supergene enriched chalcocite mineralization underlain by a larger body of primary mineralization containing chalcopyrite, pyrite, and molybdenite.
Various resource estimates have been carried out at Four Metals. The project has the potential for near term development of a small, low capital, copper mine in an area of favorable infrastructure and markets.
Qualified Person
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Wallace has reviewed and approved the technical content of this press release.
ABOUT ALLEGIANT
ALLEGIANT owns 100% of 12 highly-prospective drill-ready gold projects in the United States, 9 of which are located in the mining-friendly jurisdiction of Nevada. ALLEGIANT’s flagship Eastside project hosts a large and expanding gold resource, is district scale, and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.
ABOUT BARRIAN
Barrian Mining Corp is a private junior exploration company focused on acquiring proven gold assets in the United States. Barrian is composed of successful public market entrepreneurs whose goal is to create value for shareholders through the drill bit. Barrian has entered into an earn in agreement with ALLEGIANT to acquire up to a 75% interest in the proven and highly prospective Carlin type Bolo asset located about 90 km north of Tonopah Nevada and a 100% interest in a second asset located in New Mexico. Barrian will trade under the symbol BARI upon completion of its IPO.
Further information regarding ALLEGIANT can be found at www.allegiantgold.com
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman & CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include, but are not limited to statements and information regarding: Allegiant Gold Ltd.’s (“Allegiant”) property holding costs savings or income generated from optioning out certain properties; Allegiant’s drilling and exploration plans for its properties, including anticipated costs and timing thereof; the potential of hosting good grade gold mineralization or expansion; Allegiant’s plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future maintenance and capital expenditures, working capital requirements; and Barrian’s plan to complete an initial public offering and its acquisition of certain properties. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
- Follow-up work program at Prinsep returns a high of 4.8g/t Au grab sample
- Follow-up of 500ppb soil samples results in collection of small gold nugget
- Program for recently granted tenements planned
VANCOUVER , Jan. 22, 2019 /CNW/ – NxGold Ltd. (“NxGold” or the “Company“), (TSXV: NXN) is pleased to provide the final results from the 2018 work programs at the Mt. Roe Gold Project located in the Pilbara region of Western Australia . A limited follow up program on previously released soil sample results and prospecting results at the Prinsep and Sholl properties is reported below and in Tables 1 and 2.
NxGold Ltd. (CNW Group/NxGold Ltd.)
Prinsep tenements: A total of 16 rock (selective) samples were collected over a combined 500m of strike from a total 1800m potential strike length of the geological unit that returned an assay of 8.6 g/t gold previously (see News Release from December 18, 2018 ). A sample of jasperoid/chert, similar to the sample previously reported and approximately 300m along strike to the west returned a result of 4.8 g/t gold. Samples from this program had an assay range of detection limit to 4.8g/t gold. Other values from the unit of interest included 287ppb and 154ppb gold. Poor exposures along much of the horizon of interest prevented more systematic rock sampling; a soil grid has subsequently been proposed to better evaluate this potential target area which should identify areas to focus more advanced work such as trenching or drilling.
Sholl tenements: Follow-up work on highly anomalous soil samples from the Hawk , Eagle and Swan areas resulted in the collection of five additional grab samples and one small gold nugget was located using metal detecting. In the Swan area follow-up of a single 150ppb gold in soil anomaly resulted in a single rock sample of pyritic andesite that returned low level anomalous values of gold (66ppb), molybdenum (17ppm), lead (232ppm) and zinc (1291ppm) at the edge of the soil grid. This grid needs to be expanded eastward. In the Eagle area, no clear surface explanation for 110ppb, 140ppb and 240ppb gold in soils was observed; next step work in this area may include tighter spaced sampling or aircore (AC) or rotary air blast (RAB) drilling to sample below sections of calcrete. In the Hawk area 500ppb and 830ppb gold in soil anomalies were reviewed. The 830ppb anomaly appeared to be in a flood plain and was discounted although a follow-up stream sample collected above this area returned 16ppb gold, well above our local background of 3ppb Au. The 500ppb soil anomaly was located below a pyritic gabbroic intrusive unit that had been deformed and hosted veining in shear and fracture zones. Rock samples collected from this unit returned 19ppb and 137ppb gold and a small gold nugget was found in the immediate area using a metal detector. Additional soil sampling is required in this area to close off the anomalous zones prior to more advanced exploration activities.
Christopher McFadden , Chief Executive Officer commented, “Since acquiring the property our team has evaluated the property for different mineralisation styles and advanced to the drill target delineation stage through the systematic exploration of part of the Mt Roe tenements. This approach will now be used to evaluate the Prinsep tenements and the newly granted tenements on Mt. Roe. The identification of vein structures in the Eagle, Hawk and Swan areas among others, supports the existence of primary gold mineralisation on the property. “
Next steps: With the recent granting of the P47/1796, 1797, and 1798 tenements (see News Release of December 12, 2018 ) the initial focus will be to bring these tenements to the same geological and mineral potential level of understanding as the rest of the Mt. Roe Gold Project lands (Table 3). Secondary focus will include undertaking field work to define open anomalous zones and aggressive initial evaluation of the 80oz patch and the Pineapple patch, both prolific nugget collection areas, within or immediately adjacent to the recently granted tenements. Once complete, targets will be prioritised for drill evaluation.
Table 1: Rock sample results not previously reported.
Sample ID | Prospect | Au g/t | Description |
2329 | Prinsep | 0.022 | Red, fine grained, banded chert 4m wide |
2331 | Prinsep | 0.0025 | Chert horizon, upper quartzite zone |
2332 | Prinsep | 0.287 | Lower oxidized chert horizon, narrow <1m |
2333 | Prinsep | 0.02 | Light grey to red, silicified quartzite or recrystallized chert, 40cm wide |
2334 | Prinsep | 0.0025 | Grey to red, thin laminated beds of chert, 1m wide tightly folded locally |
2335 | Prinsep | 0.153 | Black chert, poorly formed red jasper zone, chip across 3m |
2336 | Prinsep | 0.012 | Black to dark grey fine-grained cherty horizon with limonite along fractures |
2337 | Prinsep | 0.04 | Black to grey, massive cherty zone, brecciated fragments of grey chert, 30m x |
2338 | Prinsep | 0.018 | Light grey to red, hematite breccia (jasper), fine matrix supported with fragments |
2339 | Prinsep | 0.015 | Light grey to red, brecciated chert with jasper, <1m wide |
2341 | Prinsep | 0.015 | Red, hematite jasper bed breccia fragments of quartzite, silicified crystalline |
2342 | Prinsep | 4.811 | Black with tension quartz veins and minor red hematite throughout |
2343 | Prinsep | 0.013 | Dark red jasper zone with limonite, in grey banded chert |
2344 | Prinsep | 0.011 | Dark grey to black, iron rich zone in chert horizon, abundant limonite along |
2345 | Prinsep | 0.154 | White to light grey, tension quartz veins, in small stringer zone, cross cutting |
2346 | Prinsep | 0.007 | White, fine grained, brecciated sediment with coarse goethite along fractures as |
2328 | Swan | 0.0025 | Light green to green, altered andesite, sheared with quartz vein fragments, grey |
2347 | Swan | 0.007 | Qtz vein float in area of weak sheared chlorite altered andesite |
2348 | Swan | 0.066 | pyrite zone in andesite |
2349 | Hawk | 0.019 | qtz vein in pyritic gabbro |
2351 | Hawk | 0.137 | Pyrite zone in gabbro |
Table 2: Steam Silt sample results not previously reported.
SampleID | Prospect | Au ppb | Description |
2707 | Hawk | 16.47 | Brown to red, devil’s dice and qtz fragments |
2708 | Hawk | 1.98 | Brown to black magnetite and limonite |
2709 | Pineapple | 1.13 | Brown to red, few coarse pebbles in stream |
Table 3: work progress on Mt.Roe Targets and Prinsep tenements
Target Area | Prospect | Map | Silt | Soil | Trench | Drill* | Nugget type** |
Conglomerate | X | X,O | X | X | O | – | |
Swan | X | X,O | X | X | X | O | specimen |
Hamburger | X | X | X | X,O | flat | ||
Kangaroo | X | X | X | X | round | ||
Crow | X | X | X | O | – | ||
Eagle | X | X,O | X | X, O | X | specimen | |
Sun | X | X | X | – | |||
Bulldog | O | X | X | O | X | specimen | |
Cat | X | X | X | unknown | |||
Hawk | X | X | X | X,O | round | ||
80oz | O | O | – | O | unknown | ||
Pineapple | O | O | – | round | |||
1796 | O | O | O | tbd | |||
1797 | O | O | O | tbd | |||
1798 | O | O | O | tbd | |||
Prinsep | O | X | X | X,O | unknown | ||
O = proposed next step; * target prioritisation occurs prior to this step; | |||||||
**dominant morphology, most areas have more than one morphology | |||||||
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About NxGold
NxGold is a Vancouver-based exploration company. The Company owns 80% of the Mt. Roe gold project located in the Pilbara region of Western Australia. The Company has also entered into an earn-in agreement with Meliadine Gold Ltd. to earn up to a 70% interest in the Kuulu Project (formerly known as the Peter Lake Gold Project) in Nunavut.
Technical Disclosure
The on-going sampling programs of stream sediments, soils, rocks and chip samples involve a quality assurance and quality control (QA/QC) program that includes the collection of field duplicates and insertion of certified reference materials at frequency of roughly one in ten samples. Rock samples, stream samples and some chip samples are selective in nature and are not representative of mineralisation on the property. All samples have been sent to Intertek Genalysis in Perth , WA for preparation and analysis. Rock and chip samples were analysed using a 50g fire assay for gold and a 10g aqua regia, 32-element inductively coupled plasma optical emission spectroscopy (‘ICP-OES’). Samples with visible gold or returning >10 g/t gold by fire assay are subject to a screen fire assay analysis. Stream sediment samples were analysed using 1000g bulk leach extractable gold analysis with Leachwell accelerant followed by ICP-MS with a 10g sample split for aqua regia 32 element ICP-OES analyses.
Stream samples were field screened fine fraction (minus 80 mesh) with a collected mass of 10-12kgs. Soil samples were field screened to minus 4mm with a collected mass of approximately 4kg. All samples were split by a two-tier riffle splitter in a secure storage facility into a laboratory sample and a retained reference sample.
Surface material was scraped away, followed by loosening of material with a prospector’s pick and lifting the material onto a sieve screen with a plastic scoop. Samples where sieved down in the field to minus 4 mm, directly into a sample bag. 4 kg of sieved material was collected for each sample. Sample depths went down to approximately 25 cm at each site. Samples were sealed in a cloth bag until split by a two-tier riffle splitter in a secure storage facility. Locations of each sample were recorded by a handheld GPS.
NxGold advises that the Mt Roe Gold project is an early stage exploration project utilising an evolving gold deposit model for a paleo-placer style of mineralisation. Abundant exploration work is required to understand the previously unrecognised sedimentary geology and confirm if the source(s) of the coarse gold is located within NxGold Ltd.’s tenements. There is no certainty of the discovery nor definition of a mineral resource.
The scientific and technical information in this news release has been prepared or approved by Darren Lindsay , P.Geo., Vice President Exploration and Development, of the Company, a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including whether the proposed acquisition will be completed. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or 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” or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
SOURCE NxGold Ltd.
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Includes Up To 8.97g/t Gold In Soil Samples
VANCOUVER, British Columbia, Jan. 22, 2019 (GLOBE NEWSWIRE) — Labrador Gold Corp. (LAB.V) (“Labrador Gold” or the “Company”) is pleased to announce results from detailed gold exploration of its Ashuanipi project in Labrador and Quebec. The exploration program at Ashuanipi followed up on successful results of 2017 work that outlined two regional scale gold in soil and lake sediment anomalies trending 15km north-south and 14km east-west. The property covers 892 square kilometres of ground prospective for gold.
A total of 7,458 soil samples were taken on 18 grids at a 100m line spacing and 25m sample spacing across the Ashuanipi north claim block. In addition, 61 reconnaissance soil lines were taken over claims staked in Labrador and Quebec following the results of the 2017 work. Results of analyses show significant gold anomalies in all but two of the 18 grids and confirm the 15km north-south anomalous trend (See figures at www.labradorgold.com). Analyses of the soils range from below detection limit, <0.5 parts per billion (ppb) to 8.97g/t Au, with 67 samples containing more than 0.1g/t Au and three samples containing more than 1g/t Au in the soil. In addition, 749 soil samples with gold concentrations greater than the 90th percentile are considered anomalous and require detailed follow up.
Gold anomalies do not appear to correlate with specific rock types, at least on a regional scale, but are often associated with magnetic highs which may be indicative of a structural control on the location of the gold.
“Results of the detailed soil sampling at Ashuanipi has confirmed the regional nature of the gold anomalies and indicted specific areas where gold values are elevated above 0.1g/t and possibly related to near surface gold enrichment,” said Roger Moss, President and Chief Executive Officer of Labrador Gold. “These anomalies enable us to focus our exploration at specific sites along the regional anomaly to rapidly assess the potential for gold mineralization. Work during the coming field season will include detailed mapping, rock sampling and, if warranted, eventual drill testing of these anomalous areas. We anticipate an exciting field season at Ashuanipi tracking down the source of these significant gold anomalies.”
“Last year’s soil sampling program further resolved the anomalous gold trend down to the 25-metre scale,” added Shawn Ryan, Technical Advisor to Labrador Gold. “The size and intensity of the gold targets clearly explain the large regional gold in lake sediment anomaly and with 164 samples running over 50 ppb Au, 67 samples over 100 ppb Au and a high of 8,973 ppb Au it appears that we truly have a robust mineralized system. These areas will be the focus of aggressive exploration next season to identify high quality drill targets.”
The company also announces that its major shareholder, Plethora Precious Metals Fund (‘Plethora”) has exercised 3,125,000 warrants at an exercise price of $0.13. Plethora now holds 9,750,000 shares of the company representing 17.45% of the issued and outstanding shares. We appreciate the continued support of Plethora and their confidence in the exploration strategy of our technical team.
All samples were dried in the field before being shipped to the Bureau Veritas preparation laboratory in Timmins, Ontario, with analyses completed at the Vancouver laboratory. Samples were analyzed for gold and another 36 elements by ICP-MS (inductively coupled plasma-mass spectrometry) following an aqua regia digestion. The company routinely submits blanks, field duplicates and certified reference standards with batches of samples to monitor the quality of the analyses.
Roger Moss, PhD., P.Geo., is the qualified person responsible for all technical information in this release.
About Labrador Gold:
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in the Americas. In 2017 Labrador Gold signed a Letter of Intent under which the Company has the option to acquire 100% of the 896 square kilometre (km2) Ashuanipi property in northwest Labrador and the Hopedale (458 km2) property in eastern Labrador.
The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.
The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the 2017 reconnaissance exploration program following up the lake sediment anomalies show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend. The anomalies appear to be broadly associated with magnetic highs and do not show any correlation with specific rock types on a regional scale (see news release dated January 18th 2018). This suggests a possible structural control on the localization of the gold anomalies. Historical work 30 km north on the Quebec side led to gold intersections of up to 2.23 grams per tonne (g/t) Au over 19.55 metres (not true width) (Source: IOS Services Geoscientifiques, 2012, Exploration and geological reconnaissance work in the Goodwood River Area, Sheffor Project, Summer Field Season 2011). Gold in both areas appears to be associated with similar rock types.
The Company has 55,864,022 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – January 22, 2019) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) (“Miramont” or the “Company”) is pleased to announce that it has commenced drilling on its Cerro Hermoso project in southern Peru. Up to 5,000 meters will be drilled in this first phase to test three priority targets.
Bill Pincus, Miramont’s President and CEO said, “We have worked hard over the past year to get to this point and we are tremendously excited to see what we will find with this drilling program. As we continued to investigate the property further we have found new and stronger evidence supporting our prospect model. Our exploration work to date has strengthened expectations that a significant ore deposit is ready to be discovered.”
THE CERRO HERMOSO PROJECT
Cerro Hermoso is a large diatreme-hosted system with various styles of copper, gold and silver mineralization found in a four square kilometer area. It has many similar characteristics to other diatreme systems that are known to host large bulk-tonnage polymetallic deposits.
The three priority drill targets have been identified by a combination of geologic mapping, geochemical sampling and geophysical prospecting. These are known as the Central Breccia Zone (Gold), the Stockwork Zone (Copper/Silver) and the Carbonate Replacement Zone (Polymetallic). All three targets will be tested in the upcoming program.
PRIORITY TARGETS
The three priority targets will all be tested with multiple drill holes. A brief description of each is given below and the reader is referred to the Company’s website (Link) for more information.
Central Breccia Zone
This zone is found within the heart of the diatreme. The formation of gold-bearing hydrothermal breccia, the potential host-rock for mineralization, is extensive. Selective sampling by Miramont has confirmed widespread gold mineralization in this zone with values up to 18 grams per tonne of gold. An IP geophysical study has outlined a significant chargeability anomaly potentially indicating the presence of sulfides at shallow depths.
Stockwork Zone
The Stockwork Zone lies just outside the northern rim of the diatreme. It is a 500 by 400 metre area of widespread stockwork veining and alteration developed within the volcanic flow units. The Stockwork Zone has prominent silver, copper, and gold mineralization throughout the area. Values as high as 500 g/t Ag, 3.9% Cu and 10 g/t Au have been found here. Coincident magnetic and conductivity anomalies indicate the potential for a buried intrusion near surface.
Carbonate Replacement Zone
This zone is known from a review of historic underground mapping. Development on lower levels (approx. 200 metres below surface) encountered carbonate replacement deposits (CRD’s) within an underlying limestone beds. Coincident resistivity and conductivity anomalies may indicate the presence of sulfide bearing limestone units continuing to the northwest.
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. William Pincus, CPG, President and CEO of Miramont and a Qualified Person as defined by National Instrument 43-101.
About Miramont Resources Corp.
Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s two key projects are Cerro Hermoso and Lukkacha, both located in southern Peru. Cerro Hermoso is a diatreme-hosted copper dominant polymetallic prospect. Lukkacha is a classic copper-porphyry prospect.
On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.
“William Pincus”
William Pincus, President and CEO
For more information, please contact the Company at:
Telephone: (604) 398-4493
info@miramontresources.com
www.miramontresources.com
Reader Advisory
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, British Columbia, Jan. 22, 2019 (GLOBE NEWSWIRE) — Novo Resources Corp.(“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to provide an update on near-term exploration progress.
Karratha Gold Project:
In its news release dated December 20, 2018, Novo discussed encouraging preliminary results from test work using a TOMRA mechanical rock sorter on gold-bearing conglomerate material from its Karratha gold project. High-grade assays from sorted rock concentrates provided a first indication that the technique is effective at upgrading gold into small volume concentrates. Novo anticipates receiving complete assays from all fractions of test material by the end of January at which time it will present a complete assessment of the efficacy of mechanically sorting Karratha gold-bearing conglomerates.
Novo is currently generating a mineralization report covering exploration results on the Comet Well and Purdy’s Reward exploration licenses. This report forms the basis for conversion of an exploration license to mining leases. Submission of this report to the Western Australian Department of Mines, Industry Regulation and Safety is targeted for the first quarter of this year.
Egina 2019 Exploration Program:
Novo announced encouraging results from processing of its first bulk sample at its new Egina gold project in a news release dated December 20, 2018. A total of 107.88 grams of raw gold were recovered from 95 cubic meters of gravel. Gold was found to be dominantly coarse suggesting simple processing techniques can likely be employed during potential future large-scale gold recovery at Egina. Novo thinks lag gravels mantling the vast erosional terrace at Egina could host a significant gold deposit, the shallow nature of which makes it a particularly attractive target.
Work at Egina is on hold during the rainy season lasting until late March. Plans are currently being made to resume aggressive bulk sampling and processing on the Egina mining lease to evaluate the geologic potential of the terrace gravels as well the best means of processing. Current permitting allows for up to 50,000 tonnes of gravel to be excavated and processed at Egina, subject to appropriate heritage clearances.
Beatons Creek Bulk Samples and Resource Estimation
A suite of 58 +2 tonne bulk samples was collected from gold-bearing conglomerates at Beatons Creek in 2018. Processing of these samples is expected to be complete in early February at which time Novo will present results. Although Novo recently announced an upgraded resource at Beatons Creek (please refer to the Company’s November 21, 2018 news release), its intention is to generate a further expanded resource utilizing bulk sample data coupled with recently collected diamond drill and down-hole imaging data. The next resource estimate is expected to be completed during the first quarter of this year.
“Novo’s team is working diligently across many fronts to progress our advanced projects,” commented Mr. Rob Humphryson, CEO and a Director of the Company. “In 2019, we aim to make great strides in demonstrating the potential large size and viability of these unique deposits. We are becoming increasingly excited as we unlock their geologic intricacies and develop the technology to advance them.”
Dr. Quinton Hennigh, P. Geo., the Company’s, President, Chairman, and a Director, and a qualified person as defined by National Instrument 43-101, has approved the geological content of this news release.
About Novo Resources Corp.
Novo’s focus is to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a significant land package covering approximately 12,000 sq km with varying ownership interests. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com
On Behalf of the Board of Directors,
Novo Resources Corp.
“Quinton Hennigh”
Quinton Hennigh
President and Chairman
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 news release.
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to planned exploration activities and the expected timing of the receipt of results, as well as the expected timing of completion of an updated resource on Novo’s Beatons Creek property. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource industry as well as the performance of services by third parties.
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A Speculator’s Portfolio
My experience based on having run three companies in India is that there is not much, if anything, you can do about those in the Third World. Fear of ghosts, and superstitions—and an over-whelming irrationality—is hardwired in them.
They simply have no passion to do well in life, accumulate, and build a civilization. They want to make money quickly and use it for decadence. They have no gratitude, and you can do nothing about it. They have no capability to be respectful. The only thing that makes them toe the line is the fear of the higher-ups. If you remove this fear, they go wild. Carrots and sticks do not work, for they cannot calculate. You can give them all you can, and they will merely expect more, as a right.
Europeans brought written language to sub-Saharan Africa; and railways, science and enlightenment to India. Without European management, all the benefits the Third World got are getting rapidly neutralized. Without Europeans running them, the Third World will revert back to the dark ages.
None of the above stops the compulsive virtue-signalers—the World Bank, the IMF, main-stream media, big corporations, etc.—from claiming that the Third World will have the biggest economies in the near future.
In a recent report, Standard Chartered Bank claims that by 2030 India’s economy will be $46 trillion large, while US’s will be only $31 trillion. I tried all sensible tricks possible on my spreadsheet to see what growth rate India would require to get from a country where half the population poops in the open to become an economy 50% larger than the US, all in a mere 12 years. Reports like these can be reasonably assured to go unchallenged. Who wants to look racist by suggesting that India cannot be such a big economy if at all India will still be a single country by 2030?
On investments…
Today, I gave a presentation on building a “speculator’s portfolio,” at the just concluded Vancouver Resource Investment Conference. Here is the list that I gave, with my preferred buying prices:
- Keras Resources (KRS.LON; £0.0032)
- Lorraine Copper (LLC; C$0.115)
- Nkwe Platinum (NKP; A$0.064)
- G-Resources (1051.HKG; HK$0.048)
- Condor Resources (CN; C$0.05)
- IDM Mining (IDM; C$0.055)
- FPX Nickel (FPX; C$0.105)
- Amarillo Gold (AGC; C$0.23)
- Globex Mining (GMX; C$0.29)
- Miramont Resources (MONT; C$0.30)
- VR Resources (VRR; C$0.16)
- Altus Strategies (ALTS; C$0.045; in the “watch-list”)
- Energold (EGD; C$0.125; in the “watch-list”)
Half of the seats of the next Capitalism & Morality are gone. Please register now if you would like to be assured a seat.
Warm regards,
Jayant Bhandari
Associate: Rajni Bala
Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendation. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.