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Base Metals Energy

URANIUM | NexGen Honoured to Receive the PDAC’s 2019 Environmental and Social Responsibility Award

VANCOUVER, Nov. 15, 2018 /PRNewswire/ – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE, NYSE MKT: NXE) is pleased to announce it is the recipient of the 2019 Environmental & Social Responsibility Award given by the Prospectors & Developers Association of Canada (“PDAC”), the leading voice of the mineral exploration and development community.

The PDAC Environmental & Social Responsibility award recognizes an organization’s effort in protecting and preserving the natural environment and establishing positive community relations during the exploration phase or operation of a mine.

Leigh Curyer, Chief Executive Officer, commented: “The receipt of this award recognizes NexGen’s commitment to all aspects of its operations, communities and the environment in which it conducts activities. The NexGen team’s culture of creating positive impacts for all reflects our core objective which extends beyond bringing a mine into production. We look forward to expanding the scope and breadth of our programs previously initiated as we head into 2019 conducting the largest campaign since incorporation in 2011. On behalf of the Executive and Board of NexGen, I would like to thank everyone involved for their dedication and conduct in the pursuit of what has been achieved to date and their relentless focus on future initiatives.”

The 41st annual PDAC awards showcase exceptional leaders in the mineral exploration and mining community. Recipients will be celebrated at an Awards Gala & After Party at the Fairmont Royal York Hotel in Toronto on Tuesday, March 5 during the PDAC 2019 Convention.

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.  NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Deposit in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. NexGen is the recipient of the PDAC’s 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Forward-Looking Information

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. 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.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen’s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse 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 results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen 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 the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company’s Annual Information Form dated March 31, 2017 under “Risk Factors”.

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.

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Precious Metals

JUNIOR MINING | Work Program Commences Ahead of Drill Program on Extensive High Grade Vein System at Boodalyerrie, Pilbara, Western Australia

VANCOUVER , Nov. 15, 2018 /CNW/ – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the “Company” or “Pacton“) is pleased to announce that it has scheduled a helicopter and ground supported rock chip sampling and detailed geological mapping program on its 62 km2 Boodalyerrie tenement (E 45/3586).  Boodalyerrie is located 85 km northeast of the town of Nullagine, and Novo Resources Corp’s (NVO.V) Beatons Creek project. (Figure 1).

Figure 1. Location of Pacton Pilbara holdings, showing Boodalyerrie tenement. (CNW Group/Pacton Gold Inc.)

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Figure 1. Location of Pacton Pilbara holdings, showing Boodalyerrie tenement. (CNW Group/Pacton Gold Inc.)

Highlights of exploration undertaken at Boodalyerrie to date:

  • Multiple quartz vein reefs extend over a total cumulative strike length of at least 23 km within an area of 25 km2, and range in thickness between 1 to 10 m
  • Significant high-grade rock chip samples of up to 200g/t Au (Plenty River Corporation Ltd, 2000)
  • Channel sampling results of up to 3 m at 88.6g/t Au (Plenty River Corporation Ltd, 2000)
  • Multiple small scale historic high grade workings documented
  • Potential exists for high-grade vein hosted gold mineralizing system associated with the Yilgalong Granite quartz veins. Target style has never been drill tested

Although half of the Boodalyerrie tenement is covered by sedimentary and volcanic rocks of the Fortescue Group, including surface exposures of the Mount Roe, Hardey and Kylena formations, the focus of the immediate exploration program will be to define the extents and controls of gold mineralization within steeply dipping quartz veins hosted in older Archean granitic basement rocks. This extensive swarm of gold-bearing, quartz veins have thicknesses ranging from 1 to 10 m and extend along strike lengths of up to 2.5 km throughout a 25 km2 area. Geological mapping indicates that the veins were emplaced into the Archean granitic basement rocks before the deposition of the overlying Fortescue Group. Accordingly, the mapped vein system is expected to extend under the thin cover of Fortescue formations. (Figures 2 & 3).

Figure 2. Simplified geology of the eastern part of the Pilbara craton, showing Pacton holdings, and the location of the Boodalyerrie tenement. (CNW Group/Pacton Gold Inc.)

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Figure 2. Simplified geology of the eastern part of the Pilbara craton, showing Pacton holdings, and the location of the Boodalyerrie tenement. (CNW Group/Pacton Gold Inc.)
Figure 3. Orthophoto of Boodalyerrie tenement showing granitic basement injected with a pervasive swarm of vertical quartz structures that contain identified gold occurrences. The east and south parts of the tenement are covered by Fortescue Group formations. See Inset in Figure 4 below. (CNW Group/Pacton Gold Inc.)

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Figure 3. Orthophoto of Boodalyerrie tenement showing granitic basement injected with a pervasive swarm of vertical quartz structures that contain identified gold occurrences. The east and south parts of the tenement are covered by Fortescue Group formations. See Inset in Figure 4 below. (CNW Group/Pacton Gold Inc.)

Exploration conducted in 2000, indicated the Boodalyerrie veins are prominent, protruding surface features that dip steeply in a north and north west criss-cross pattern and extend along strike for several kilometers.  The 1 m to 10 m thick veins are composed of white and/or grey quartz, and carry minor sulphides, principally pyrite and galena. Surface and grab samples have been reported by Plenty River Corporation Ltd, in 2000, as grading up to 200 g/t gold, and with a channel sample returning 88.6 g.t gold over 3 m .

Figure 4. Vertically exaggerated view of the inset in Figure 3, showing the resistant nature of the larger quartz vein structures. (CNW Group/Pacton Gold Inc.)

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Figure 4. Vertically exaggerated view of the inset in Figure 3, showing the resistant nature of the larger quartz vein structures. (CNW Group/Pacton Gold Inc.)

Image analysis suggests that a secondary target type of interest consists of dense swarms of smaller quartz vein stockworks that extend throughout the tenement. (Figure 5).

Figure 5. Filtered snapshots of selected areas of Figure 3 (above) showing details of quartz structures, and alteration minerals dispersed on surface. (CNW Group/Pacton Gold Inc.)

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Figure 5. Filtered snapshots of selected areas of Figure 3 (above) showing details of quartz structures, and alteration minerals dispersed on surface. (CNW Group/Pacton Gold Inc.)

Pacton has not independently verified the Boodalyerrie sampling results but considers them to be sufficiently reliable to justify more detailed exploration. Mr. Robert Jewson, BSc. , Mineral Exploration & Mining Geology, and Managing Director of Geonomics Australia will be supervising the implementation of the Boodalyerrie exploration program.

The November-December Boodalyerrie work program will consist of detailed geological mapping and rock chip sampling in order to define the controls and extents of mineralization. Unexplored parts of the vein swarm, together with areas of intense vein stockworks will be mapped and surface sampled. Additionally, a preliminary reconnaissance sampling program will be undertaken in the southwestern portion of the Boodalyerrie tenement, which is underlain by the Mount Roe and Hardey formations of the Fortescue Group.

About Pacton Gold

Pacton Gold is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia.

The technical content of this news release has been reviewed and approved Peter Caldbick , P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.

ON BEHALF OF THE BOARD OF PACTON GOLD INC.

Alec Pismiris
Interim President & CEO

This news release contains or refers to forward-looking information based on current expectations, including, but not limited to the Company completion of the proposed transaction described herein, the prospect of the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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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SOURCE Pacton Gold Inc.

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Precious Metals

JUNIOR MINING | Gowest Gold Provides Market Update

TORONTO, Nov. 15, 2018 (GLOBE NEWSWIRE) — Gowest Gold Ltd. (“Gowest” or the “Company”) (GWA.V) is pleased to provide an update regarding the progress it is making with its development of the Company’s Bradshaw Gold Deposit (“Bradshaw”) in the Timmins Gold Camp.

As previously announced (see Gowest news release dated October 30, 2018), the Company has recently entered into a definitive Custom Milling Agreement (“the Agreement”) with QMX Gold Corporation (“QMX”) pursuant to which QMX will process material from Bradshaw at its Aurbel Mill located in Val d’Or, Quebec. In reaching this agreement, Gowest has achieved a critical milestone, one that had proven to be a major impediment in the Company’s efforts to raise the additional funds needed to continue Bradshaw’s development, let alone for conducting further work on the rest of its more than 100-square-kilometre North Timmins Gold Project.

With the Agreement in hand, Gowest is actively engaged in discussions with a number of parties to identify the best way to raise new funding. No details can be made available at this time; however, a number of options are being examined including private placement funding, some form of debt or royalty structure, as well as larger equity infusions. Further information on these opportunities will be provided as it becomes available.

The Company’s management also wishes to confirm that it is unaware of any material change in the Company’s operations that would account for the recent negative market activity.

Meanwhile, the Company would like to note the considerable progress that its team has achieved during the past two years.

ACCOMPLISHMENTS:

Gowest has completed over 2,098 metres of underground development, including commissioning a main ramp and portal of sufficient size for the future operating mine. This development was conducted at the 30, 45 and 60 metre levels. Silling has also been initiated as the first stopes are prepared for development. This underground work has revealed the gold structures, shown excellent continuity in the mineralization, and confirmed and enhanced the team’s geological model. Importantly, all of this has been completed with no injuries at the project to date, either at surface or underground.

At the same time, 28,567 tonnes of development material has been stockpiled on surface for sorting, milling, and sale as a concentrate.

Further, in preparation for future production, the water treatment plant has been made fully operational, and the discharge is environmentally compliant. The ore-sorter, which is now completely enclosed in a dome building facility, has been commissioned and proven to perform as expected. Initial tests have shown that it should be producing gold bearing material from the stockpiles grading 6 g/t to 10 g/t for trucking to the Aurbel facility for toll-milling. Previous milling and flotation test work showed 97% recoveries.

Additional work has demonstrated stable and competent ground conditions in the ore and waste areas, and a revised geological model has sharply expanded the potential of the mineralized area.

As previously announced (see news release dated February 14, 2018), the Company has completed an agreement to have the gold concentrate produced at the Aurbel mill sent for final processing and sale at Shandong Humon Smelting in China.

Overall, the past year has seen Gowest sharply enhance and de-risk its Bradshaw asset, including intersecting the highest gold values to date at 155 g/t gold in a new zone outside the resource (see news release dated November 29, 2017). The team has also identified 20 new gold zones in bulk sample area, as well as two new high-grade gold zones north and west of main deposit. A 30-hole, 3,871-metre underground infill drilling program has been completed that has significantly enhanced the Company’s understanding of the deposit. This included tightening drill spacing and increasing the technical team’s detailed knowledge of the mineralized structures. In addition to refining the deposit geometry to define stope limits and enhance grade control, this drilling clearly demonstrated the potential to add significant additional material to the resource.

Gowest President & CEO, Greg Romain said, “Despite the difficult market conditions, our team has much to be proud of. Meanwhile, we continue to work towards our plan of making Bradshaw a commercial mine. We are currently reviewing our financing options, and we are hopeful that we will be able to provide a further update in this regard before the end of the year. Meanwhile, on behalf of the Board and our management team, we appreciate the support we have received from our shareholders, and we look forward to providing them with the proof that their patience has not been in vain.”

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., Gowest’s Director of Exploration, who is the Qualified Person for the technical information in this news release under National Instrument 43‐101 standards.

About Gowest

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Corporation’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

Forward-Looking Statements

This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

For further information please contact:

Greg Romain Greg Taylor
President & CEO Investor Relations
Tel: (416) 363-1210 Tel: 416 605-5120
Email: info@gowestgold.com Email: gregt@gowestgold.com
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Base Metals Energy Precious Metals Project Generators

PROJECT GENERATOR | EMX Royalty Announces Third Quarter 2018 Results and Repayment of Sprott Loan

EMX Royalty Corp.
Suite 501 – 543 Granville Street
Vancouver, BC V6C 1X8
Telephone +1 (604) 688-6390

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Base Metals

JUNIOR MINING | Nevada Copper Provides Clarification to Technical Disclosure and Announces Intention to Prepare New Technical Report

VANCOUVER, British Columbia, Nov. 13, 2018 (GLOBE NEWSWIRE) — Nevada Copper Corp. (NCU.TO) (“Nevada Copper” or the “Company”) is issuing this news release to clarify its technical disclosure as a result of a recent review by the British Columbia Securities Commission.

On October 11, 2018, the Company filed a technical report for the Pumpkin Hollow project entitled “Pumpkin Hollow Development Options – NI 43-101 Technical report: Pre-feasibility study 5,000 tons/day Underground Project (Case A), Feasibility Study for a 70,000 tons/day Open Pit/Underground Project (Case B), and Preliminary Economic Assessment of an Open Pit Project with Initial Capacity of 37,000 tons/day and Expansion to 70,000 tons/day” (the “October 2018 Technical Report”). That report included the results of a preliminary economic assessment (the “PEA”) of the stand-alone development of the open pit at the Project, in addition to the existing Case A and Case B studies. In preparing and presenting the October 2018 Technical Report, the Company sought to provide full disclosure of the various development alternatives being considered for the Pumpkin Hollow project (the “Project”). However, the presentation of multiple development scenarios using different levels of technical and economic studies within the technical report do not comply with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). As a result, investors should not rely on the October 2018 Technical Report.

Nevada Copper remains confident with respect to the quality of the underlying technical work.  Nevada Copper also confirms that it continues its ongoing work on the preparation of a new technical report (the “New Technical Report”) for the Project for release in Q1 2019. The New Technical Report will supersede all prior technical reports for the Project and is expected to incorporate the results of the Company’s previously announced 2018 drilling program and evaluate, in addition to the underground project currently under construction, a standalone, staged, open pit mine development at a preliminary feasibility study level.

Qualified Persons

The technical disclosure in this news release was approved by Gregory French, P.G., Vice-President Exploration & Project Development of Nevada Copper, Robert McKnight, P.Eng., Executive Vice-President of Nevada Copper, both of whom are non-independent Qualified Persons within the meaning of NI 43-101.

About Nevada Copper

Nevada Copper’s (NCU.TO) Pumpkin Hollow project is the only major, shovel-ready and fully-permitted copper project in North America. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully-permitted projects include: the high-grade Pumpkin Hollow underground project which is in construction with a view to near-term commencement of copper production; and the Pumpkin Hollow open pit project, a large-scale copper deposit with substantial mineral reserves, and which is currently undergoing an optimization program to target a reduced-capex, staged-development approach.

Additional Information

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com).

NEVADA COPPER CORP.

Matthew Gili, President and CEO

For further information call:

Rich Matthews,
VP Marketing and Investor Relations
Phone: 604-355-7179
Toll free: 1-877-648-8266
Email: rmatthews@nevadacopper.com

We seek safe harbour

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Blog

CAPITALISM & MORALITY 2019

This is a gentle reminder that the early-bird price ends tomorrow, 15th Nov. 2018.


An Unparalleled Philosophy Seminar

Draft program for the next Capitalism & Morality seminar is now available. The seminar will be held on Saturday, 3rd August 2019, with social activities before and after the event. The programme and registration details are linked here.
For a very limited time, early-bird price is available–the price rises substantially as time passes by. You can of course ask for a full refund (minus any transaction fee) until 1st July 2019.
Your early registration helps us enormously with planning the event.
Please use the Paypal button at the bottom of the seminar page to register.
Please register by 15th November to get early-birdprice.
Warm regards,
Jayant Bhandari
www.jayantbhandari.com
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Blog Energy Exclusive Interviews

DNI METALS | Advancing Graphite Projects in Madagascar

Dan Weir, executive chairman of DNI Metals, speaks with Maurice Jackson of Proven and Probable about the personnel changes the company has made and its plans to obtain the environmental permits for the company’s graphite projects in Madagascar.

VIDEO

 

AUDIO

TRANSCRIPT

Maurice Jackson: Joining us for a conversation is Dan Weir, the executive chairman of DNI Metals Inc. (DNI:CSE; DMNKF:OTC), which is establishing itself to become one of the world’s leading graphite producers.
Dan, glad to have you back on the show. Before we delve into today’s interview, for first time listeners, who is DNI Metals and what is the thesis you’re attempting to prove?
Dan Weir: DNI is a public company, listed in Toronto and the U.S. on the OTCQB. We are developing graphite projects in Madagascar, and we’re very excited to be involved in the graphite industry because, as you know, and I think a lot of your listeners will know that the demand picture for the future of graphite looks very good. If you just take a Tesla and look at the batteries that go into a Tesla, in every Tesla car there’s going to be somewhere between 100 and 200 kilograms of graphite. Multiply that by how many thousands and millions of electric cars that we’re going to have, let alone the batteries in your cellphones and the batteries in our computers. The demand in the world is going to be huge. So we’re very excited about the future and the future for graphite.
Maurice Jackson: Dan, you referenced DNI’s projects are located in Madagascar. I understand that elections are coming up soon. I have a multilayered question, should the current administration remain in place, what type of impact will that have on DNI and what if a new administration takes place, what type of impact could this have on DNI?
Dan Weir: Well, I’m going to take you through how the elections work here in Madagascar. There’s a presidential election that happens every four to five years. I think it’s mandated that it has to happen every five years. In order to become president, you have to have 50% of the votes. Now, the first round of the elections took place on November 7, so just a couple days ago. There were 36 people running for the president, including four of the people running were ex-presidents of the country. So the incumbent is one of the four.
We had the election on the 7th. And it takes approximately 20 days to do all the counting of the votes. Therefore, we won’t know the outcome for approximately three weeks. Legally, all voting has be recorded and published within the next 21 days. So by November 28, legally they have to announce all the different figures or the numbers or percentages that all the different candidates received.
Then what happens is if no candidate gets over 50%, they have a next round of elections. The two top candidates from the first round will compete in a second round. So the second round will happen on December 19 should this situation come to fruition. Again, then you’re going to have probably another 20 days before you get the results. So you’re really looking into mid-January by the time they announce who the president is and who wins the election.
Now, in the government they have a president, then they have a prime minister, then they have different ministers for different areas, minister of mines, minister of the environment, etc. The president doesn’t actually pick the prime minister, but what he does is he goes to parliament and gives them about four or five different names of who he would like to be the prime minister. So he doesn’t technically put the prime minister in place, but he’s the one that provides the names to parliament and then parliament picks who that prime minister is. But the president does pick who all the different ministers are.
So until mid-January, the current prime minister and all the current ministers stay in place and it’s business as usual until mid-January. Does that answer all your questions that you had on that topic, Maurice?
Maurice Jackson: It certainly does. Let’s switch gears here. Since our last interview, there have been a number of personnel changes at DNI Metals. As a shareholder, how concerned should I be, and equally important, why were these changes made?
Dan Weir: So I want to be careful what I say here. You can refer to our press releases that we’ve put out over the last couple weeks. We have decided to make changes here. I think I’m going to make it as polite as I can, Maurice. We have decided to make changes here in Madagascar. The team that we had in place we felt was not doing their jobs properly. So we terminated their contracts. Every single one of them was a contractor to the company. We terminated their contracts and we have brought new people in. I have decided to spend more time in Madagascar and take over as the country manager here in Madagascar to make sure that things are moving forward in the right direction.
As we stated in our previous press releases that we had been promised from our previous team the environmental permits would be done in January of 2018. We’re now in November of 2018. This was not fair to our shareholders, and therefore, we needed to make changes. I am here now taking control of that process and taking control of all the personnel here in Madagascar. I will be spending a lot of time in Madagascar to make sure that everything goes through and goes through smoothly here in Madagascar.
So new team will be myself, we will have a bookkeeper/accountant here in Madagascar as well, and I decided to bring in a lawyer on a contract basis, basically she will work part-time for us here in the company. I brought in a government relations person, again a contractor that will work part-time. And I brought in a community relations person, a CSR expert. He is also a chemical engineer. He will look after all of the local people and probably in the new year, I’ll probably bring him on more as a full-time person. As we get our environmental permits and we’re building our pilot plant initially and then the full on commercial plant, we’ll need somebody like him when you’re dealing with all the locals and all the relationships within the locals; and, again, him being a process engineer, chemical engineer, he’s a great person that can talk to all the locals and help us put processes in place to deal with the locals and deal with all our workers.
Maurice Jackson: You’ve also had some changes on the board. Can you speak to that?
Dan Weir: Yes. On our boards, we had five people. Myself, John Carter, who is an engineer. He’s built multiple processes plants. I think somewhere around 300 different mining processes plants around the world, including four graphite processing plants. We have Keith Minty. He’s a mine engineer. He’s operated graphite mines in Ontario and in Sri Lanka. He has worked all around the world, including Madagascar at one point and time. So these are great guys to have on the board. The other two people that we had on the board were two accountants, Paul Hart and Brian Howlett. They have decided to step down.
As we are moving closer and closer to getting the pilot plant built and commercial production, we will bring in people that have more expertise in graphite sales as well as have technical expertise in building graphite mines. The other people that we might consider for the board as we move forward would maybe be some of the big shareholders who have had a lot of expertise in developing companies and building companies. So we’ll look at that. That will be in the new year. Right now the main focus is making sure that we get all of our environmental licenses and that we’re moving forward.
Maurice Jackson: Before we get to the environmental licenses, talk to us about some good news that you have for U.S. investors.
Dan Weir: We decided to upgrade our listing in the United States on the OTC. We’re going to move it up to a QB listing in the United States. What that does is I’ve had complaints from different people in the U.S. and from around the world where a lot of the discount brokers found it difficult to trade on the CSE, one of the stock exchanges in Canada. So we are getting an upgraded listing in the United States, and we had been fully approved for that listing; that should happen over the next couple months. We will also get what we call DTC settlements set up where it, again, makes it easier for discount brokers in settling the trades in the back office. DTC basically is an electronic transfer system. Again, just makes it much easier for trading and settling of your trades.
Maurice Jackson: All right. The multi-million dollar question everyone wants to know about. What is the next unanswered question for DNI Metals? When should we expect results, and what determines success?
Dan Weir: So results, if you’re referring to getting the environmental licenses and moving the project forward, again, that’s been our biggest delay over the last year is getting these environmental licenses. I’ve been promising and promising and promising that they’re coming, they’re coming. It’ll happen soon. Most of that was from our team here in Madagascar that kept promising me that it was going to happen tomorrow, tomorrow, tomorrow. A number of documents and stuff that they gave us to show that it was going to happen tomorrow and tomorrow and tomorrow ended up not being really truthful documents or proper documents. I’m rectifying all that. I’ve taken charge here.
We have found out, and you can refer to one of our press releases that some of our documents had not even been filed, even though we had been told that they had been filed. For the Vohitsara property, some of the documents been filed, they had not been filed properly. When you’re working here and you’re filing environmental permits, this is the document. It’s about 500 pages long that you file for an environmental license in Madagascar. This had not been filed for the Marofody property. You file that and you also file a document that looks like this, which is called the Cahier des Charges. The Cahier des Charges is about 88 pages. It’s stamped by the director general of the mines ministry. This document had not been filed either for Marofody. So we’ve gotten the copies. We will be filing those with the ONE. Again, the ONE is the ministry of the environment and be moving this project forward.
So, as we said in the press release that I put out in the last couple days here, once you have filed the documents with the ONE, it’s a 60-day process that they must evaluate and grant you the environmental license within those 60 days. They also have a requirement where they need to go to the property twice. We will take them to both Vohitsara and Marofody properties at the same time. As part of that, I’ve requested and I have a meeting next week with the ONE again to try to speed this up. I will be requesting if we can we do those visits within the 60 day-process. I think that my initial meeting with them, they indicated that that was possible, and hopefully I can confirm that up next week.
So when is the exact timing? I can only give you what the laws state in Madagascar, which I have put in the most recent press release. People, again, have been concerned about the elections. If we can work within this 60 day window here, we will have this all completed while the current ministers are still in place. So we should be able to get all the documents completed and get our environmental licenses within those days. Again, that’s kind of a worst case scenario. The ONE knows that there were some people that have not really done their jobs properly here in Madagascar, and that they will work with us to speed up this process as fast as they can, which is fantastic.
Maurice Jackson: It truly is exciting to hear that. Last question for you, what did I forget to ask?
Dan Weir: I’m not sure. I know the two biggest questions for people out there have been: How do the elections effect DNI, and what the heck is going on with the permits? So hopefully we have addressed those today, and with some of the press releases that I have put out recently, I will try to get the market as much as I can update information as we move forward, and I look forward to finally getting the permits and actually getting this thing, the pilot plant, built and get into production. I’ve been trying to do this for a long time, but I’m finally excited that now I am taking control, I will remain in control of this process, and we know exactly what has to be done to complete this process, and I’m pushing forward to make sure that that happens.
Maurice Jackson: Mr. Weir, for someone listening and that wants to get more information on DNI Metals, please share the contact details.
Dan Weir: Best thing to do right now because I’m going to be in Madagascar quite a bit. It gets very expensive to call me on the phone. I’d prefer if you can email me at [email protected]. I will respond to that. It’s about an eight hour time difference between Madagascar and New York or Toronto. So please bear with me, if you don’t hear from me for a couple days, I will get back to you.
Maurice Jackson: And please share the website address.
Dan Weir: The website is www.DNIMetals.com.
Maurice Jackson: And as a reminder, DNI Metals trades on the CSE, symbol DNI, and on the OTC QB, symbol DMNKF. DNI Metals is a sponsor of Proven and Probable, and we are proud shareholders for the virtues conveyed in today’s interview.
And last but not least, please visit our website www.provenandprobable.com where we interview the most respected names in the natural resource space. You may reach us at [email protected].
Dan Weir of DNI Metals, thank you for joining us today on Proven and Probable.
Dan Weir: Thank you, Maurice, and bye to everybody from Madagascar.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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Disclosure:
1) Dan Weir: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: DNI Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: DNI Metals.
2) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: DNI Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: DNI Metals is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
3) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: DNI Metals. Click here for important disclosures about sponsor fees.
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Categories
Precious Metals

JUNIOR MINING | Anaconda Mining Intersects 8.79 g/t Over 8.0 Metres; Continues to Expand Goldboro Gold Deposit

TORONTO , Nov. 13, 2018 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company“) (ANX.TO) (ANXGF) is pleased to announce initial drill results from a 10,000-metre drill program that began in July 2018 (the “Drill Program“) at the Goldboro Gold Project in Nova Scotia (“ Goldboro “). Six drill holes (BR-18-44 to 49; 3,237 metres) successfully targeted a previously untested deeper area of the Boston Richardson Gold System (“BR Gold System“) over 350 metres of strike and to depths of 525 metres (Exhibit A and B). Drilling expanded two mineralized zones an additional 200 metres along strike and expanded five other zones over 350 metres along strike. The Company observed nineteen occurrences of visible gold in the six drill holes and the character of the mineralization in those holes is consistent with results seen throughout the BR Gold System to date. The BR Gold System remains open for further expansion at depth and down plunge.

Highlights from recent drill results include:

  • 8.79 grams per tonne (“g/t”) gold over 8.0 metres (483.0 to 491.0 metres) in hole BR-18-44, including 64.40 g/t gold over 0.8 metres;
  • 51.89 g/t gold over 1.0 metre (224.5 to 225.5 metres) in hole BR-18-46;
  • 5.15 g/t gold over 4.0 metres (390.9 to 394.9 metres) including 10.08 g/t gold over 1.5 metres in hole BR-18-47;
  • 21.06 g/t gold over 1.0 metre (200.1 to 201.1 metres) in hole BR-18-48; and
  • 6.39 g/t gold over 2.0 metres (457.2 to 459.2 metres) and 3.35 g/t gold over 4.5 metres (539.0 to 543.5 metres) in hole BR-18-49, including 25.68 g/t gold over 0.4 metres.

The continuity of the BR Gold System is evident as the Company drills deeper. Below are select highlights from assays previously reported by the Company from mineralized zones discovered below the existing Mineral Resource and contiguous with mineralization intersected in this Drill Program. The continuity at depth is also illustrated in Exhibit B.

  • 2.21 g/t gold over 25.5 metres (506.1 to 531.6 metres) including 12.39 g/t gold over 3.2 metres in hole BR-18-30;
  • 4.13 g/t gold over 20.5 metres (324.5 to 345.0 metres) including 9.93 g/t over 7.5 metres in hole BR-18-23;
  • 19.99 g/t gold over 1.7 metres (369.7 to 371.4 metres) in hole BR-18-23;
  • 4.82 g/t gold over 3.6 metres (384.7 to 388.3 metres) including 9.90 g/t gold over 1.1 metres in hole BR-18-33;
  • 63.88 g/t gold over 1.0 metre (378.0 to 379.0 metres) in hole BR-18-41;
  • 6.05 g/t gold over 3.7 metres (472.0 to 475.7 metres) including 28.12 g/t gold over 0.7 metres in hole BR-18-42; and
  • 9.29 g/t gold over 2.1 metres (420.6 to 422.7 metres) in hole BR-18-21.

A full table of composited assays from recent drilling is presented below.

“We have demonstrated further expansion of the Goldboro Deposit, particularly in the Boston Richardson Gold System, and discovered that mineralization continues to at least to 525 metres. These results demonstrate the growth potential of the Goldboro Deposit, coming on the heels of an updated Mineral Resource estimate that highlighted a 15% increase of Measured and Indicated Resources to over 600,000 ounces, and a 30% increase of Inferred Resources to 450,000 ounces. Having successfully completed our goal of expanding the Boston Richardson Gold System, we have recently begun drilling at West Goldbrook with the aim of infill drilling critical portions of this area to upgrade Inferred Resources and to test the expansion potential to depths of 400 metres. We have completed approximately 75% of our 10,000-metre drill program which we expect to wrap up by year end. The results of this Drill Program will be used to update the Mineral Resource estimate, and will be incorporated into a feasibility study for Goldboro .”

~ Dustin Angelo , President and CEO, Anaconda Mining Inc.

Expansion of the BR Gold System

Drill holes BR-18-30, -33, -41, and -42 intersected new zones of mineralization within the BR Gold System on Sections 9050E and 9000E as previously reported on July 5, 2018 .  Diamond drill holes BR-18-44 to -49 of the current Drill Program were primarily designed to test the strike gap in drilling between the West Goldbrook Gold System and Section 9050E within the BR Gold System at total depth of 525 metres (Exhibit B).    Holes BR-18-44 to -49 were drilled along sections 8600E, 8700E, 8800E, 8900E and 9100E and contained mineralization characteristic of the BR Gold System. Based on these results and those reported for section 9050E and 9100E, Anaconda believes there is continuity within these newly outlined mineralized zones over the entire 500 metres of strike (from Section 8600E to Section 9100E).

Assays for drill hole BR-18-43 will be reported with other holes drilled in the West Goldbrook Gold System.

Table of selected composited assays from drill holes reported in this press release:

Drillhole

From
(m)

To
(m)

Interval
(m)

Au (g/t)

Gold
System

Visible
Gold

Section

BR-18-44

217.5

218.5

1.0

6.13

EG

8900E

and

269.0

269.5

0.5

7.53

EG

vg

and

316.5

317.0

0.5

2.76

BR

vg

and

322.0

322.5

0.5

0.94

BR

vg

and

363.7

365.7

2.0

0.76

BR

vg

and

368.2

370.1

1.9

2.89

BR

and

399.2

400.7

1.5

4.02

BR

and

426.5

429.7

3.2

1.61

BR

vg

and

432.5

433.0

0.5

19.95

BR

vg

and

471.0

477.0

6.0

1.64

BR

vg

including

473.0

474.0

1.0

5.42

BR

and

483.0

491.0

8.0

8.79

BR

vg

including

485.9

486.6

0.7

18.63

BR

including

490.2

491.0

0.8

64.40

BR

vg

BR-18-45

264.0

265.0

1.0

0.65

EG

vg

8800E

and

424.9

427.0

2.1

2.34

BR

vg

and

461.0

461.9

0.9

6.02

BR

and

501.5

503.5

2.0

2.61

BR

BR-18-46

224.5

225.5

1.0

51.89

EG

8700E

and

334.0

340.5

6.5

1.89

BR

and

383.5

384.6

1.1

4.67

BR

and

459.0

460.0

1.0

7.55

BR

and

475.0

476.5

1.5

0.82

BR

vg

and

482.5

483.5

1.0

4.61

BR

BR-18-47

341.8

342.7

0.9

6.11

BR

vg

8600E

and

377.9

380.4

2.5

4.12

BR

incl.

378.9

379.4

0.5

14.65

BR

and

390.9

394.9

4.0

5.15

BR

vg

incl.

391.9

393.4

1.5

10.08

BR

BR-18-48

200.1

201.1

1.0

21.06

EG

9100E

and

291.7

292.2

0.5

6.07

EG

vg

and

395.4

401.0

5.6

0.83

BR

vg

and

476.0

478.4

2.4

4.20

BR

incl.

477.8

478.4

0.6

15.52

BR

BR-18-49

457.2

459.2

2.0

6.39

BR

8800E

and

476.5

480.9

4.4

2.86

BR

vg

and

502.5

504.9

2.4

0.97

BR

vg

and

539.0

543.6

4.6

3.35

BR

including

541.9

542.3

0.4

25.68

BR

and

550.0

551.5

1.5

6.51

BR

vg

and

561.2

563.0

1.8

2.93

BR

including

562.0

562.5

0.5

6.25

BR

and

597.7

598.2

0.5

1.83

BR

vg

This news release has been reviewed and approved by Paul McNeill , P. Geo., VP Exploration with Anaconda Mining Inc., a “Qualified Person”, under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All samples and the resultant composites referred to in this release are collected using QA/QC protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, NL , for Au by fire assay (30 g) with an AA finish.

Samples analyzing greater than 0.5 g/t Au via 30 g fire assay were re-analyzed at Eastern via total pulp metallic. For the total pulp metallic analysis, the entire sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened to 150mesh. The +150mesh fraction is fire assayed for Au, and a 30 g subsample of the -150mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade.  Anaconda considers total pulp metallic analysis to be more representative than 30 g fire assay in coarse gold systems such as the Goldboro Deposit.

Reported mineralized intervals are measured from core lengths. Intervals are estimated to be approximately 75-100% of true widths of the mineralized zones, except for drill intersections below 450 metres depth in hole BR-18-30, 49, 41, 44 where the drill of the host fold structure near the bottom of the hole.  In these areas reported intervals may be as much as 50% of true width.

A version of this press release will be available in French on Anaconda’s website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda Mining is a TSX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia . The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland , comprised of the Stog’er Tight open pit mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and 7-million tonne capacity tailings facility, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject of a 2018 a preliminary economic assessment which demonstrates a strong project economics.

The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” 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”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the annual information form for the fiscal year ended December 31, 2017 , available on www.sedar.com. Although Anaconda has attempted to identify important factors that could 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, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Exhibit A. A map of the Goldboro Deposit showing the location of drill holes reported in this press release, drill collar locations at West Goldbrook area where drilling has been initiated as well as historic collars. (CNW Group/Anaconda Mining Inc.)

View photos

Exhibit A. A map of the Goldboro Deposit showing the location of drill holes reported in this press release, drill collar locations at West Goldbrook area where drilling has been initiated as well as historic collars. (CNW Group/Anaconda Mining Inc.)
Exhibit B. A partial long section through the Boston Richardson Gold System of the Goldboro Deposit (see corresponding section lines in map shown in Exhibit A) showing the pierce points and highlighted assays for intersections of mineralization discovered (orange) below the current resource model (red). (CNW Group/Anaconda Mining Inc.)

View photos

Exhibit B. A partial long section through the Boston Richardson Gold System of the Goldboro Deposit (see corresponding section lines in map shown in Exhibit A) showing the pierce points and highlighted assays for intersections of mineralization discovered (orange) below the current resource model (red). (CNW Group/Anaconda Mining Inc.)
Exhibit C. A long section through the Goldboro Deposit showing the area highlighted in Exhibit B relative to the whole Goldboro Deposit Long Section. (CNW Group/Anaconda Mining Inc.)

View photos

Exhibit C. A long section through the Goldboro Deposit showing the area highlighted in Exhibit B relative to the whole Goldboro Deposit Long Section. (CNW Group/Anaconda Mining Inc.)

SOURCE Anaconda Mining Inc.

View photos

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2018/13/c2401.html

Categories
Precious Metals

JUNIOR MINING | Novo shareholders, do not vote your shares yet

Bob Moriarty
Archives
Nov 13, 2018
I am at the end of a four-day trip to see Novo Resources’ projects at Karratha and Egina. I am leaving for London in about 24 hours but won’t be home until Saturday night. As soon as I get home I will do a full report on what I have learned on this trip. As an interested shareholder or potential shareholder, you need to read what I have found out before voting or taking any action.
Novo has their Annual General Meeting on the 5th of December. They have sent out the voting Proxies and some shareholders have already started to vote. I highly encourage you to NOT VOTE until you read what I have to say.
A Toronto group is trying to take over the board with the intention of stripping off the assets into two other companies leaving Novo owners holding an empty shell. If you vote before you know all the facts you are cutting your own throat.
I know a lot of shareholders all the way to the top are angry at the decline in price from $8.80 to $1.97 and they would like to start seeing scalps hanging from their mantelpiece but Novo has made far more progress in a year than any company I have ever seen. You want to know about it and then make an intelligent vote.
Do not even think about letting the Toronto Mafia take over control of Novo just to carve it into small pieces. I was humping through the outback in 105.8-degree temperature yesterday to learn what the future for Novo was. I came within a couple of minutes of heat stroke just so I could see their progress. You want to know what I know and I will post it early next week.
Until then do not under any circumstances vote your Novo shares.
Novo Resources
NVO-V $1.97 (Nov 12, 2018)
NSRPF $1.50 OTCQX 163.7 million shares
Novo Resources website
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