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From the Offices of Richard Matthews: Please click the on the 3 blue tabs for an introduction to the value proposition of Nevada Copper (TSX: NCU | OTC: NEVDF) team
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Proven ProbableCategory: Base Metals
Uranium Energy Corp Announces New and Consolidated NI 43-101 Mineral Resources* at the Reno Creek ISR Project, Wyoming
- New and expanded M&I mineral resources rank the Project as the largest permitted, pre-construction in-situ recovery (“ISR”) uranium project in the U.S.
- First time that the major mineralized trends of the Reno Creek ISR Project have been consolidated within the Eastern Pumpkin Buttes District of the Powder River Basin.
- Considerable ISR exploration and expansion potential within open mineralized trends based on available historical drilling.
- Added resources benefit from existing production permits in place.
Corpus Christi, TX, January 15, 2019 – Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC”) is pleased to announce the Company has completed an updated National Instrument 43-101 Standards of Disclosure for Mineral Properties (“NI 43-101”) resource estimate for its Reno Creek ISR Project (“Reno Creek” or the “Project”).
The Project is in the Powder River Basin, Wyoming, and now includes the consolidation and inclusion of the former North Reno Creek project (“North Reno Creek”) into the Company’s Reno Creek Project. * The report is entitled “Technical Report and Audit of Resources of the Reno Creek ISR Project, Campbell County, Wyoming, USA” dated December 31, 2018 as prepared for the Company by Behre Dolbear, an internationally recognized mining consulting firm (the “Report”).
The Report estimates a Measured and Indicated (“M&I”) mineral resource of 26 million pounds of uranium (“U3O8”) at a weighted average grade of 0.041% U3O8contained within 32 million tons, and an Inferred mineral resource of 1.49 million pounds U3O8at a weighted average grade of 0.039% U 3O8contained within 1.92 million tons. *
Amir Adnani, President and CEO, stated, “For decades, the Reno Creek uranium district has been unable to reach its full potential due to fractured ownership. Through a string of accretive acquisitions over the past 24 months, UEC has successfully consolidated the key project areas, clearing the path for this substantial new resource, with the benefit of being covered under our existing production permit. We’re executing on contrarian acquisitions during difficult years in the uranium market and have amassed a production profile of low-cost and fully permitted ISR projects. Combining Reno Creek with the Company’s South Texas ISR projects, positions UEC to lead a renaissance in U.S. uranium production via the ISR mining method, which is globally recognized for being low cost and environmentally friendly.”
The Company completed the acquisition of the North Reno Creek project in May 2018 (press release dated May 3, 2018), and since that time has been focused on updating resources, consolidating permits, merging databases and locating all Project related information into a newly opened office in Glenrock, Wyoming, near the Project.
The Company contracted Behre Dolbear, an internationally recognized mining consulting firm, to complete the Report on the Project. The Report will be filed on SEDAR within 45 days of the date of this press release. Henceforth, Reno Creek and North Reno Creek will be considered as one project in terms of resource reporting, permitting and pre-production planning. The M&I resource estimate for the Project is presented in Table 1: *
Please click this link for the full release: http://www.uraniumenergy.com/news/releases/index.php?content_id=727
VANCOUVER, British Columbia, Jan. 09, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (RVSDF) (R99.F) is pleased to provide a brief outlook for the coming year. Riverside is pleased to enter 2019 with a stable of high-quality gold, silver and copper exploration assets in Mexico. Riverside continues to have a tight share structure (less than 45M shares outstanding); increasing the potential for strong share price appreciation on new exploration successes. The list below outlines some of the key catalysts and opportunities the Company is currently forwarding:
- Riverside has exciting drill targets that are permitted and ready for testing at multiple 100% owned projects in Mexico (including high-grade gold at Cecilia and high-grade silver at the Peñoles Project)
- The Company has been advancing potential joint venture partnerships and is optimistic new deals can be secured to advance multiple projects simultaneously
- Riverside expects to expand outside of Mexico during 2019, as the Company continues to grow and diversify the generative portfolio
- Actively engaged in strategic alliance discussions with major companies, with aim of leveraging past investments and regional knowledge in Mexico
- Partner-funded exploration expected to commence at the La Silla Project in 2019 (Sinaloa Resources)
- New go-public transaction expected during Q1-Q2 from Croesus Gold Corp., (Riverside currently owns >5,000,000 Croesus common shares and holds a 2% NSR on the Sugarloaf Peak Project)
Listen to Riverside’s President & CEO, John-Mark Staude speak on the Company’s growth plans for 2019.
Riverside’s President and CEO, John-Mark Staude, stated: “Riverside is in a good position heading into 2019, we are focused to leverage off of last year’s work to improve the Company’s portfolio and are working up partnerships and catalysts for a positive year ahead. We have drill targets ready to go along with shares in other juniors and remain focused on delivering new accretive transactions for the Company. We are confident 2019 will be a strong rebound year for the company with momentum building during the first quarter.”
Options & Bonus Shares Granted:
On January 8, 2019 the Company granted 785,000 incentive stock options (the “Options”) to certain Directors, Officers and Consultants of the Company. The Options are exercisable at $0.17 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director vest in 3 equal instalments over 18 months and Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Company also granted 265,000 bonus shares to certain Directors, Officers and Consultants of the Company. The Options & bonus shares were granted pursuant to the Company’s shareholder-approved stock option and bonus share plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has a strong portfolio of gold-silver and copper assets in Mexico and a tight share structure with less than 45M shares outstanding. Riverside has extensive experience and knowledge operating in Mexico and has leveraged its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
| John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com |
Raffi Elmajian Corporate Communications Riverside Resources Inc. relmajian@rivres.com Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com |
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TSX Trading symbol: U
TORONTO , Jan. 8, 2019 /CNW/ – Uranium Participation Corporation (“UPC”) (TSX:U) reports its estimated net asset value at December 31, 2018 was CAD$691.5 million or CAD$5.01 per share. As at December 31, 2018 , UPC’s uranium investment portfolio consisted of the following: View PDF Version.
|
(in thousands of Canadian dollars, except quantity amounts) |
Quantity |
Fair Value |
||||
|
Investments in Uranium: |
||||||
|
Uranium oxide in concentrates (“U3O8“) |
14,159,354 lbs |
$ |
550,511 |
|||
|
Uranium hexafluoride (“UF6“) |
1,117,230 KgU |
$ |
134,123 |
|||
|
$ |
684,634 |
|||||
|
U3O8 fair value1 per pound: |
||||||
|
– In Canadian dollars1 |
$ |
38.88 |
||||
|
– In United States dollars |
$ |
28.50 |
||||
|
UF6 fair value1 per KgU: |
||||||
|
– In Canadian dollars1 |
$ |
120.05 |
||||
|
– In United States dollars |
$ |
88.00 |
||||
|
1 |
Fair values are month-end spot prices published by Ux Consulting Company, LLC, translated at the Bank of Canada’s month-end daily exchange rate of $1.3642. |
On the last trading day of December 2018 , the common shares of UPC closed on the TSX at a value of CAD$4.48 , which represents a 10.58% discount to the net asset value of CAD$5.01 per share.
About Uranium Participation Corporation
Uranium Participation Corporation is a company that invests substantially all of its assets in uranium oxide in concentrates (“U3O8“) and uranium hexafluoride (“UF6“) (collectively “uranium”), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. UPC provides investors with a unique opportunity to gain exposure to the price of uranium without the resource or project risk associated with investing in a traditional mining company. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on UPC’s website at www.uraniumparticipation.com.
Caution Regarding Forward-Looking Information
This press release contains certain forward-looking statements and forward-looking information that are based on UPC’s current internal expectations, estimates, projections, assumptions and beliefs. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “plan”, “should”, “believe” or “continue” or the negative thereof or variations thereon or similar terminology and include statements with respect to UPC’s investment objectives.
By their very nature, forward-looking statements involve numerous factors, assumptions and estimates. A variety of factors, many of which are beyond the control of UPC, may cause actual results to differ materially from the expectations expressed in the forward-looking statement. These factors include, but are not limited to, changes in commodity prices and foreign exchange as well as the risk that UPC will not obtain the anticipated benefits of its agreements with third parties. For a description of the principal risks of UPC, see “Risk Factors” in UPC’s Annual Information Form dated May 14, 2018 for the year ended February 28, 2018 , a copy of which is available at www.sedar.com.
These and other factors should be considered carefully, and readers are cautioned not to place undue reliance on these forward-looking statements. Although management reviews the reasonableness of its assumptions and estimates, unusual and unanticipated events may occur which render them inaccurate. Under such circumstances, future performance may differ materially from those expressed or implied by the forward-looking statements. Except where required under applicable securities legislation, UPC does not undertake to update any forward-looking information statement.
SOURCE Uranium Participation Corporation
View original content: http://www.newswire.ca/en/releases/archive/January2019/08/c3401.html
Categories
NEVADA COPPER kick off into 2019
VANCOUVER , Jan. 7, 2019 /CNW/ – Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF) (the “Company” or “Mirasol”) is pleased to provide an exploration update for the Company’s Gorbea property package in Chile , that is subject to a recently announced non-binding Heads of Agreement for an Option to Farm-in with Newcrest International Pty Limited, a wholly owned subsidiary of Newcrest Mining Limited (ASX: NCM; “NCM” – see news release December 10, 2018 ). Gorbea comprises a claims package totaling 26,684 ha (266.84 sq. km) including the Atlas and Titan Au+Ag+Cu projects, within the highly prospective Mio-Pliocene mineral belt of northern Chile (Figure 1).
- Subject to completion of ongoing due diligence, NCM has committed US$4 million in exploration expenditures, including a minimum of 3,000 m of drilling over the first 18 months of the Option Period.
- Mirasol and NCM are advancing the drill permitting process and upgrading the exploration camp ahead of a planned Q1 2019 restart of exploration program that will initially focus on Atlas, including detailed remapping mapping, alteration vectoring studies and 60 line-km of CSAMT geophysics, and diamond core drilling.
- At Atlas, significant progress in geological understanding has been derived from Mirasol’s initial interpretation US$8 million of exploration data generated under a recently terminated Joint Venture on the Gorbea package (see news release April 13, 2018 ).
- Outcomes include recognition of a large breccias complex at Atlas that is host to the better gold mineralization, a development of a new alteration vectoring model suggesting that a number of previous drill holes with anomalous Au+Ag assays may have been terminated early above the potentially better mineralized zone and recognition of new target areas where gold mineralization may occur closer to surface.
The scale of the Atlas Au+Ag system, combined with the relatively modest amount of exploration drilling to date ( 10,499 m in 26 holes) and the range of priority targets identified, highlights the project as a large, under-explored HSE system, requiring further drill testing for potential large tonnage bulk minable Au+Ag mineralization.
Atlas Prospect Update
Atlas is centered on the Dos Hermanas andesite to dacite composition, lava, pyroclastic and dome field that hosts the large-area, argillic to advanced argillic alteration and Au+Ag system which characterizes the prospect. A combination of assays from detailed stream sediment, soil and rock chip sampling outline a precious metal “footprint” for the Atlas system of approximately 14 sq. km.
A 53 sq. km conventional PDP electrical geophysical survey over the central part of the Atlas project outlined large resistivity anomalies along the NE oriented Cerro Chaco fault zone and a 4.5 km diameter resistivity feature, interpreted to delimit a large zone of stronger alteration and silicification (Figure 2). The circular resistivity feature contains the more significant bodies of breccia identified to date, that host the better intersections of Au+Ag mineralization encountered in drilling at Atlas. Only a small part of the circular resistivity feature has been drill tested at this time.
Recent radiometric age-dating of alunite alteration associated with Au+Ag mineralization at Atlas has returned a determination of 20.6 ma ±0.6 ma1. Previous reported age-dating of alunite from Mirasol’s adjacent Titan Au (Cu) project, returned an age date of 17.08 ma ±0.8 ma2. These ages correlate with Lower to Middle Miocene mineralization events recognized in the Maricunga Au+Ag+Cu Belt, located 150 km to the south, which has produced significant metallic deposits, including Pan Pacific Copper’s Caserones mine (4.6 Mt Cu3) and Kinross Gold Corporation’s La Coipa High Sulfidation Epithermal (HSE) Au+Ag district (5.5 Moz Au and 295 Moz Ag4; Figure 1).
Exploration at Atlas has shown Au+Ag mineralization is hosted by:
|
1) |
Vuggy silica – alunite structures, such as the 900 m long Atlas Gold Zone (AGZ) where limited shallow drilling on the NW end of the structure returned an anomalous intersection of 24 m at 0.18 g/t Au and 13.1 g/t Ag (Table 1). The un-drilled areas of higher-grade rock chip sampling at the center and SE end of the AGZ trend returned assays of up to 8.86 g/t Au and 44.7 g/t Ag and 16.75 g/t Au and 43.9 g/t Ag, representing a target area for future drilling. |
|
2) |
Multiphase phreatomagmatic and hydrothermal breccia bodies, that are seen at various prospects across the Atlas project. Where mineralized, these breccias are altered to quartz-alunite ± jarosite ± dark hematite assemblage with vuggy silica textures. The Steam Heated Zone (SHZ) breccia body hosts the best drill intersections to-date, which reported 114.1 m at 1.07 g/t Au and 1.8 g/t Ag, including 36 m at 2.49 g/t Au and 3.1 g/t (Table 1). Brecciation is a key feature in many large HSE precious metal deposits, where the breccia bodies act as both a conduit for mineralizing fluids and a host rock for economic concentrations of mineralization. The presence of widespread strongly altered brecciation is considered one of the positive features of the Atlas project. |
The SHZ Au+Ag mineralized breccia body has not been fully delineated by drilling. As currently defined by 0.1 Au g/t cutoff, the body has dimensions of 950 by 500 m , up to 120 m thick and is open to depth and laterally in all directions. The SHZ mineralization is located beneath a +230 m “barren” alteration cap. The presence of a barren alteration cap at Atlas is a characteristic in common with other recent HSE Au+Ag discoveries in the Mio-Pliocene belt, including the Salares Norte deposit (3.7 Moz Au and 49.5 Moz Ag 5) located 65 km to the south of Atlas, undergoing a feasibility study by Gold Fields Ltd6.
Relogging of Atlas core holes by Mirasol along a NW-SE oriented cross section through the SHZ body (Figure 3 and Figure 4) has led to the following understanding of the prospect:
|
1) |
The SHZ mineralization may be located at progressively shallower depths to the NW, toward a 700 m long gap in drilling, located between the SHZ breccia zone and the AGZ. Drilling to test for shallower potential high-grade mineralization in this “gap” is a priority; |
|
2) |
The development of a more detailed alteration / mineralization model for the SHZ breccia mineralization. The model suggests that the better mineralized zone has a low-grade outer “jarosite alunite cap” that is recognized as either a jarosite-alunite matrix vuggy breccia or a cream-coloured, jarosite-bearing silica veinlets or breccia matrix. Au+Ag grade improves beneath the low grade “jarosite- alunite cap” and at depth into the mineralized body. |
|
3) |
Mineralization is deeply oxidized beyond the base of drilling to +370 m below surface. Au+Ag is associated with a multiphase breccia with vuggy quartz textures and coarse alunite ± jarosite and dark hematite interpreted to be after original sulfide. |
The recognition of a low-grade jarosite-alunite cap, immediately overlying the SHZ mineralization may be used to vector to zones of potentially better Au+Ag grade at the SHZ. This highlights that a number of drill holes in the SHZ and other breccia bodies (holes CLATDH0016, 21, 23 and 25) at Atlas appear to have been prematurely terminated in the low-grade cap, potentially not intercepting nor testing the underlying potentially better-grade mineralization. The presence of deep oxidation associated with hematite replacement of original sulfide mineralization has also been noted at the giant Veladero HSE gold mine (17.3 Moz Au and 195.5 Moz Ag 7) operated by Barrick Gold in the Mio-Pliocene belt of Argentina , where deep oxidization of the mineralization is attributed to a combination of late-stage heated ground water collapsing into the system at the later stages of the mineralizing system, as well as post mineral supergene processes. Oxidation of the mineralization can be an indication of positive metallurgical characteristics for gold recovery in HSE precious metal deposits.
Stephen Nano , President and CEO of Mirasol, has approved the technical content of this news release. Mr Nano is a Charter Professional geologist and Fellow of the Australasian Institute of Mining and Metallurgy (CP and FAusIMM) and is a Qualified Person under NI 43 -101.
Under the terms of the pervious Gorbea Joint Venture (terminated in April 2018 ), all exploration was managed by the then joint venture partner. Pre-joint venture exploration on the projects was managed by Stephen C. Nano , who is the Qualified Person under NI 43-101. Exploration data generated from the previous Gorbea Joint Venture program was reviewed and validated by Mirasol prior to release. The technical interpretations presented here are those of Mirasol Resources Ltd.
Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Chile for analysis. Assay results from surface rock, channel, trench, and drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
|
1 |
Ar/Ar radiometric age date determination commissioned by Yamana Gold, performed at Sernageomin Geochronology Laboratories in Santiago, Chile. |
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2 |
Ar/Ar radiometric age date determination commissioned by Mirasol Resources, performed at Australian National University Argon Facility in Canberra, Australia |
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3 |
S&P Global Market Intelligence |
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4 |
S&P Global Market Intelligence |
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5 |
Gold Fields Mineral Resource and Mineral Reserve Supplement to the Integrated Annual Report,2017. |
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6 |
Gold Fields. (2017). Integrated Annual Report 2017. |
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7 |
S&P Global Market Intelligence |
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Additional Explanatory Notes: |
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* |
AuEq60 is the sum of the value of gold and silver in a given interval represented as a gold equivalent g/t value calculated via the formula: Au assay in g/t + (silver assay in g/t ÷ 60) |
SOURCE Mirasol Resources Ltd.
View original content: http://www.newswire.ca/en/releases/archive/January2019/07/c2605.html
Five holes will step out from successful prior drill holes
TSX VENTURE SYMBOL: FUU
KELOWNA, BC , Jan. 3, 2019 /CNW/ – FISSION 3.0 CORP. (“Fission 3” or “the Company“) is pleased to announce it will shortly be commencing a 1,850m five-hole winter drill program at its PLN project in the Athabasca Basin region of Saskatchewan, Canada . The program will focus on high-priority targets within a 700m mineralized corridor identified during the previous drill program. All five holes will test the A1 conductor, stepping out 25m and 50m north along strike of PLN14-019, which intercepted significant uranium mineralization. These five winter holes are part of an overall 3,250m PLN program approved for 2019.
View photos
Fission 3.0 Corp. (CNW Group/Fission 3.0 Corp.)
PLN is located in the south-west area of Saskatchewan’s Athabasca Basin, immediately adjacent and to the north of Fission Uranium’s PLS project, which hosts the high-grade Triple R uranium deposit. With its proximity to large-scale, high-grade uranium deposits, and with multiple geological and geophysical interpreted features, including an extensive drill-identified mineralized corridor, PLN ranks highly in Fission 3’s extensive portfolio.
News Highlights
- PLN is prospective for high-grade uranium at shallow depth
- The property is adjacent to, and part of the same structural corridor as Fission Uranium’s PLS project, host to the Athabasca’s most significant major, shallow-depth, high-grade uranium deposit
- Step out drilling strategy. Drilling will step out from one of the previously-drilled, mineralized holes (PLN14-19), which intercepted 0.5m at 0.047% U3O8 within 6.0m @ 0.012% U3O8 during the 2014 drill program.
- Prior drilling has intercepted significant uranium and shown large-scale potential. The Company’s 2014 drill program identified a mineralized corridor associated with the A1 conductor ~700m in strike length, where results returned significant mineralization and pathfinder elements.
- Highly-targeted winter holes part of larger program at PLN. An 8-hole, 3,250m drill program has been approved by the PLN joint venture for 2019, with 5 holes ( 1,850m ) to be drilled this winter.
Ross McElroy , COO, and Chief Geologist for Fission, commented,
“Our prior drilling has already proven that PLN hosts uranium and, importantly, those results have highlighted the potential for large-scale mineralization. Winter drilling will focus on the approximately 700m mineralized trend and will use a strategy of step outs from one of our previous, successful holes on the property.”
PLN Package: The PLN package consists of a total of 36,537 ha in 37 mineral claims of which Fission 3 has a 90% interest in 27,408 ha (10 mineral claims) and a 100% interest in an additional recently staked 9,129 ha (27 mineral claims). Azincourt Energy Corp. holds a 10% interest in 27,408 ha of the PLN property.
The property, just inside the Athabasca Basin, is prospective for high-grade uranium at shallow depth. The property is adjacent to, and part of the same structural corridor as Fission Uranium’s PLS project, host to the Athabasca’s most significant major, shallow-depth, high-grade uranium deposit. Previous drill results show large scale potential. Drilling in 2014 identified a mineralized corridor associated with the A1 ~700m in strike length, where results returned significant mineralization and pathfinder elements (uranium, boron, copper, nickel and zinc) and included hole PLN14-019 which intercepted 0.5m at 0.047% U3O8 within 6.0m @ 0.012% U3O8.
Wales Lake Update: A total of 586m of drilling in 2 holes were completed on the southwest and northeast areas respectively of Block C of Wales Lake in December. Both holes targeted basement electromagnetic conductors that were defined by airborne and ground geophysics. The drilling indicates that the southwestern area of Block C appears to have a higher potential for hosting mineralization.
Hole WL18-001 is an angled hole located on the northwest striking major conductor trend in the southwestern corner of the property. The hole was drilled to a depth of 305m and encountered bedrock at 165.5m . Bedrock consisted of alternating sequences of quartz-chlorite-garnet gneiss and sulphide rich quartz-feldspar-biotite-garnet gneiss. Basement geology appears to be roughly flat lying to gently dipping. Intervals of moderate to strong hematite and chlorite alteration occur throughout. Several narrow intervals of fault gouge within strongly foliated regions were encountered throughout. No anomalous radioactivity was encountered.
Hole WL18-002 is an angled hole located in the northeast corner of the property. Similar to that seen in WL18-001, the basement geology appears to be roughly flat lying to gently dipping. The hole was drilled to a depth of 281m and encountered bedrock at 143m . Bedrock consisted of broad sequences of orthogneiss and granodiorite/granitoid. Minimal chlorite alteration is present to a depth of 195.7m . A narrow interval of anomalous radioactivity associated with a pegmatite vein was encountered from 170.0 to 170.5m . Radioactivity in drill core peaked at 500 cps and downhole gamma survey peaked at 3,239 cps. It is likely the radioactivity is from thorium in the pegmatite rather than uranium.
Wales Lake
|
Hole ID |
Block |
Area |
Collar |
Hand-held Scintillometer Results On |
Basement Unconformity |
Total Drillhole |
||||
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Az |
Dip |
From (m) |
To (m) |
Width (m) |
CPS Peak Range |
|||||
|
WL18-001 |
Block C |
SW |
235 |
-76 |
No Significant Radioactivity |
165.5 |
305.0 |
|||
|
WL18-002 |
Block C |
NE |
89 |
-76.6 |
170 |
170.5 |
0.5 |
500 |
143.0 |
281.0 |
Wales Lake: The 100% owned Wales Lake property comprises 30 claims in 3 non-contiguous blocks totaling ~35,440 hectares and is accessible by road with primary access from all-weather Highway 955. Similar to Fission Uranium’s PLS property, Wales Lake occupies the same stratigraphic position within the Clearwater Domain and represents relatively shallow depth basement hosted target areas outside of the margin of the Athabasca Basin. From west to east the 3 blocks are referred to as A, B and C respectively. Block A is the westernmost and is located ~30km west of Fission Uranium’s flagship high-grade Triple R uranium deposit. Block B is located a further ~6km to the east and Block C is located a further ~7km to the southwest.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand-held RS-121 Scintillometer manufactured by Radiation Solutions. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK . Analysis will include a 63 element ICP-OES, and boron.
All depth measurements reported, including radioactivity and mineralization interval widths are down-hole, core interval measurements and true thickness are yet to be determined.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy , P.Geol. Chief Geologist and COO for Fission 3.0 Corp., a qualified person.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia . Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”
ON BEHALF OF THE BOARD
“Ross McElroy”
________________________
Ross McElroy , COO
Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements 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”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Fission 3.0 Corp.
Michael Rowley, president and CEO of Group Ten Metals sits down with Maurice Jackson of Proven and Probable to discuss his companies exploration for platinum, palladium, nickel, copper and cobalt in the Stillwater area of Montana. Specifically, Mr. Rowley will address the latest press release regarding hybrid zone consisting of 14 target areas, 6 of which Higher-Grade ‘Reef Zones’ and 8 of which are large scale bulk tonnage “Platreef-Style’ Mineralization.
VIDEO
AUDIO
TRANSCRIPT
Original Source: https://www.streetwisereports.com/article/2018/12/27/exploring-for-pges-in-montana.html
Exploring for PGEs in Montana
Contributed Opinion
Source: Maurice Jackson for Streetwise Reports (12/27/18)
Michael Rowley, president and CEO of Group Ten Metals, speaks with Maurice Jackson of Proven and Probable about his company’s recent PGE discoveries in Montana and the similarities to projects in South Africa’s Platreef District.
Maurice Jackson: Joining us today is Michael Rowley, the president and CEO of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTC), which is exploring for platinum, palladium, nickel, copper and cobalt in the Stillwater district of Montana.
Mr. Rowley, we have some exciting developments to discuss for current and perspective shareholders, but before we begin, for someone new to the story, who is Group Ten Metals and what is the thesis you’re attempting to prove?
Michael Rowley: Group Ten Metals is a growth stage company, focused on PGM, platinum group metals, plus nickel, copper, also cobalt, the so-called technology battery metals. We have polymetallic deposits as these things occur together; we’re focused primarily at the Stillwater West Project in Montana. We also have assets in the Yukon and a gold project in Ontario.
Maurice Jackson: Group Ten Metals just issued a press release announcing a new discovery hybrid zone and some targets at the Stillwater West. Multi-layered question, sir, can you update us on the Stillwater West, expand on the findings, and tell us what they mean moving forward?
Michael Rowley: Stillwater West is our newest project; we made our first acquisition there in 2017. It’s a remarkable land position and database in a truly world-class district. The Stillwater name, the district is synonymous with the richest palladium, platinum mines in the world, a staggering 90 million ounces in past production and current reserves producing from three mines at over half an ounce per ton, 16 grams per ton.
It’s platinum and palladium rich; palladium, of course, is very significant right now given that palladium is challenging gold as the most valuable precious metal. We are above and below Stillwater in this layered system and because of that we have not only the same potential for palladium and platinum, platinum group metals in general, but we also get to expand our target to these truly polymetallic things including nickel, copper, cobalt, palladium. We recently added to that list, also, rhodium, and we have some significant gold.
This is truly elephant country. It’s the biggest PGM deposit outside of South Africa and Russia and, of course, it was bought by Sibanye our neighbor for $2.2 billion in 2017. So we’re the only other player in the district. It’s a fantastic place to be, we’re very excited.
You brought up the most recent news release, December 17. The Hybrid Zone is one of our targets in the Chrome mountain area and an exciting new discovery. We mention up to 150 meters of mineralized intervals there in this new style of mineralization. What’s exciting is this has never been recognized in camp before and it ties into the Bushveld Complex of South Africa and, despite the known similarities between these districts, Stillwater has never been examined systematically for that potential.
So in a nutshell, we are taking the lessons learned at the Mogalakwena Mine and Ivanhoe’s Platreef project and applying them to the similar geology in Montana Stillwater in a way that nobody’s done before. I guess final point to wrap that up is the team that we’ve attracted includes a number of renowned experts on this type of deposit, but most recently David Broughton of Ivanhoe, so we’ve actually attracted expertise and talent of a world caliber on the project.
Maurice Jackson: Can you further expand on the new 14 target areas?
Michael Rowley: We have as a result of our efforts in 2018, being our first season on the ground, we’ve identified 14 target areas in Stillwater West, six of them fit the high-grade PGE reef type targets that the district is known for, in particular our neighbor Stillwater Sibanye Mines. However, 8 of the 14 targets are these newer Platreef style targets where we see potential for large-scale bulk-mineable disseminated sulfide mineralization of the types seen on the Platreef District of South Africa, and that’s in the basal zones and the lower ultramafic series in Stillwater.
And that’s the greater potential we see there for these hundred million ounce style PGE nickel/copper deposits, also cobalt actually, at Stillwater, and news flow will be ongoing in the coming weeks and months as we reveal the results of our work in 2018, and our plans for 2019.
Maurice Jackson: And what are the target commodities at the Stillwater?
Michael Rowley: It’s a true polymetallic system; the district itself is known for having the highest-grade palladium platinum lines in the world, and that is the three operating Stillwater mines that were bought by Sibanye in 2017, in our part of the district, in the lower part you can also add to that list gold, cobalt, and chrome are significant and we are recently finding indications of potentially significant vanadium and rhodium, you can add to that list as well.
So this suite of commodities, in particular the palladium, in light of what palladium is doing in the markets these days, positions Group Ten as one of very few options in terms of PGE investment opportunity for investors, especially if one included geography in that, being that we are outside of South Africa and Russia, in North America.
Maurice Jackson: Sir, what is the next unanswered question for Group Ten Metals, when should we expect results, and what determines success?
Michael Rowley: Good questions, news flow will be ongoing in the coming weeks, assays are coming in as we speak, we’re entering them into our models and planning our strategy around that, so we’re excited by what we see. I think the most exciting aspect of news is going to be the results of re-logging and modeling the more than 12,000 meters of core that we have in our possession, as we said earlier, no one has brought this land position together with the South African Platreef models, along with this physical core, so bringing these things together, and for the first time looking at this district systematically for the potential for these styles of deposits. It’s very exciting and I think the first quarter of 2019 you’ll see some very interesting news releases and materials along that line.
We will be at the major trade shows, we’ll have core on display at the January shows in Vancouver, and we’ll be at the PDAC in Toronto in March as well, and we look forward to seeing anybody and everybody there.
Maurice Jackson: Sir, we’ve covered the good, what keeps you up at tight that we don’t know about?
Michael Rowley: Well, frankly, our share price isn’t where I’d like it to be and I don’t think it reflects the potential of the company, that is of course seasonal and the juniors (miners) do generally get hit harder this time of year, however, gold has held up very nicely, and other commodities are following it, and the majors have moved up nicely. So I think we can expect a good rebound in 2019 from the mining sector, and from the juniors, and then, of course, there was also our own work, especially Stillwater I think will get some nice life, in addition to the rising tide, that floats all boats.
Maurice Jackson: Finally, what did I forget to ask?
Michael Rowley: Well, it’s not that you forgot to ask, but let’s revisit and touch on something we’ve talked about before, the fact that 75% of the world’s PGM metals come out of South Africa—this has been written up very well recently by the CMP group out of New York—a lot of those mines are facing closures, they’ve been underfunded for years, and this is expected to drive the platinum price substantially into the year 2020.
Palladium, of course, is already up and platinum is expected to follow. It’s worth noting, perhaps, that those are reef mines, they’re deep, they’re hot, they’re expensive, they’re dangerous, the mines of a Platreef, north of the Bushveld, are our current model with Stillwater, and those are highly economic and they keep producing, and that’s what we expect to bring to Stillwater for everyone’s benefit.
Maurice Jackson: Mr. Rowley for someone listening that wants to get more information on Group Ten Metals, what is the website address?
Michael Rowley: Website is grouptenmetals.com.
Maurice Jackson: And as a reminder, Group Ten Metals trades on the TXS.V:PGE, and on the OTCQB:PGEZF; for direct inquiries please contact Chris Ackerman at 604-357-4790 extension 1, or email info@grouptenmetals.com, as reminder Group Ten Metals is a sponsor of Proven and Probable, and we are proud shareholders for the virtues conveyed into today’s interview. 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 contact@provenandprobable.com.
Michael Rowley of Group Ten Metals, thank you for joining us today on Proven and Probable.
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.
Mr. Rowley, we have some exciting developments to discuss for current and perspective shareholders, but before we begin, for someone new to the story, who is Group Ten Metals and what is the thesis you’re attempting to prove?
Michael Rowley: Group Ten Metals is a growth stage company, focused on PGM, platinum group metals, plus nickel, copper, also cobalt, the so-called technology battery metals. We have polymetallic deposits as these things occur together; we’re focused primarily at the Stillwater West Project in Montana. We also have assets in the Yukon and a gold project in Ontario.
Maurice Jackson: Group Ten Metals just issued a press release announcing a new discovery hybrid zone and some targets at the Stillwater West. Multi-layered question, sir, can you update us on the Stillwater West, expand on the findings, and tell us what they mean moving forward?
Michael Rowley: Stillwater West is our newest project; we made our first acquisition there in 2017. It’s a remarkable land position and database in a truly world-class district. The Stillwater name, the district is synonymous with the richest palladium, platinum mines in the world, a staggering 90 million ounces in past production and current reserves producing from three mines at over half an ounce per ton, 16 grams per ton.
It’s platinum and palladium rich; palladium, of course, is very significant right now given that palladium is challenging gold as the most valuable precious metal. We are above and below Stillwater in this layered system and because of that we have not only the same potential for palladium and platinum, platinum group metals in general, but we also get to expand our target to these truly polymetallic things including nickel, copper, cobalt, palladium. We recently added to that list, also, rhodium, and we have some significant gold.
This is truly elephant country. It’s the biggest PGM deposit outside of South Africa and Russia and, of course, it was bought by Sibanye our neighbor for $2.2 billion in 2017. So we’re the only other player in the district. It’s a fantastic place to be, we’re very excited.
You brought up the most recent news release, December 17. The Hybrid Zone is one of our targets in the Chrome mountain area and an exciting new discovery. We mention up to 150 meters of mineralized intervals there in this new style of mineralization. What’s exciting is this has never been recognized in camp before and it ties into the Bushveld Complex of South Africa and, despite the known similarities between these districts, Stillwater has never been examined systematically for that potential.
So in a nutshell, we are taking the lessons learned at the Mogalakwena Mine and Ivanhoe’s Platreef project and applying them to the similar geology in Montana Stillwater in a way that nobody’s done before. I guess final point to wrap that up is the team that we’ve attracted includes a number of renowned experts on this type of deposit, but most recently David Broughton of Ivanhoe, so we’ve actually attracted expertise and talent of a world caliber on the project.
Maurice Jackson: Can you further expand on the new 14 target areas?
Michael Rowley: We have as a result of our efforts in 2018, being our first season on the ground, we’ve identified 14 target areas in Stillwater West, six of them fit the high-grade PGE reef type targets that the district is known for, in particular our neighbor Stillwater Sibanye Mines. However, 8 of the 14 targets are these newer Platreef style targets where we see potential for large-scale bulk-mineable disseminated sulfide mineralization of the types seen on the Platreef District of South Africa, and that’s in the basal zones and the lower ultramafic series in Stillwater.
And that’s the greater potential we see there for these hundred million ounce style PGE nickel/copper deposits, also cobalt actually, at Stillwater, and news flow will be ongoing in the coming weeks and months as we reveal the results of our work in 2018, and our plans for 2019.
Maurice Jackson: And what are the target commodities at the Stillwater?
Michael Rowley: It’s a true polymetallic system; the district itself is known for having the highest-grade palladium platinum lines in the world, and that is the three operating Stillwater mines that were bought by Sibanye in 2017, in our part of the district, in the lower part you can also add to that list gold, cobalt, and chrome are significant and we are recently finding indications of potentially significant vanadium and rhodium, you can add to that list as well.
So this suite of commodities, in particular the palladium, in light of what palladium is doing in the markets these days, positions Group Ten as one of very few options in terms of PGE investment opportunity for investors, especially if one included geography in that, being that we are outside of South Africa and Russia, in North America.
Maurice Jackson: Sir, what is the next unanswered question for Group Ten Metals, when should we expect results, and what determines success?
Michael Rowley: Good questions, news flow will be ongoing in the coming weeks, assays are coming in as we speak, we’re entering them into our models and planning our strategy around that, so we’re excited by what we see. I think the most exciting aspect of news is going to be the results of re-logging and modeling the more than 12,000 meters of core that we have in our possession, as we said earlier, no one has brought this land position together with the South African Platreef models, along with this physical core, so bringing these things together, and for the first time looking at this district systematically for the potential for these styles of deposits. It’s very exciting and I think the first quarter of 2019 you’ll see some very interesting news releases and materials along that line.
We will be at the major trade shows, we’ll have core on display at the January shows in Vancouver, and we’ll be at the PDAC in Toronto in March as well, and we look forward to seeing anybody and everybody there.
Maurice Jackson: Sir, we’ve covered the good, what keeps you up at tight that we don’t know about?
Michael Rowley: Well, frankly, our share price isn’t where I’d like it to be and I don’t think it reflects the potential of the company, that is of course seasonal and the juniors (miners) do generally get hit harder this time of year, however, gold has held up very nicely, and other commodities are following it, and the majors have moved up nicely. So I think we can expect a good rebound in 2019 from the mining sector, and from the juniors, and then, of course, there was also our own work, especially Stillwater I think will get some nice life, in addition to the rising tide, that floats all boats.
Maurice Jackson: Finally, what did I forget to ask?
Michael Rowley: Well, it’s not that you forgot to ask, but let’s revisit and touch on something we’ve talked about before, the fact that 75% of the world’s PGM metals come out of South Africa—this has been written up very well recently by the CMP group out of New York—a lot of those mines are facing closures, they’ve been underfunded for years, and this is expected to drive the platinum price substantially into the year 2020.
Palladium, of course, is already up and platinum is expected to follow. It’s worth noting, perhaps, that those are reef mines, they’re deep, they’re hot, they’re expensive, they’re dangerous, the mines of a Platreef, north of the Bushveld, are our current model with Stillwater, and those are highly economic and they keep producing, and that’s what we expect to bring to Stillwater for everyone’s benefit.
Maurice Jackson: Mr. Rowley for someone listening that wants to get more information on Group Ten Metals, what is the website address?
Michael Rowley: Website is grouptenmetals.com.
Maurice Jackson: And as a reminder, Group Ten Metals trades on the TXS.V:PGE, and on the OTCQB:PGEZF; for direct inquiries please contact Chris Ackerman at 604-357-4790 extension 1, or email info@grouptenmetals.com, as reminder Group Ten Metals is a sponsor of Proven and Probable, and we are proud shareholders for the virtues conveyed into today’s interview. 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 contact@provenandprobable.com.
Michael Rowley of Group Ten Metals, thank you for joining us today on Proven and Probable.
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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TSX VENTURE SYMBOL: FUU
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/
KELOWNA, BC , Dec. 21, 2018 /CNW/ – Fission 3.0 Corp. (“Fission 3” or the “Company“) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement“) for total gross proceeds of $1,500,201 . The Company issued 500,000 units (“Units“) at a price of C$0.20 per Unit for gross proceeds of C$100,000 and 6,364,550 flow-through shares (“FT Shares“) at a price of C$0.22 per FT Share for gross proceeds of C$1,400,201 . Each Unit consists of one common share (“Common Share“) and one common share purchase warrant (“Warrant“).
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Fission 3.0 Corp. (CNW Group/Fission 3.0 Corp.)
Each Warrant is exercisable for an additional Common Share until three years from the date of issuance at an exercise price of C$0.25 . If, commencing four months and one day after the date of issuance, the volume weighted average trading price of the Company’s Common Shares on the TSX Venture Exchange is higher than C$0.30 for 20 consecutive trading days then, on the 20th consecutive trading day of any such period (the “Acceleration Trigger Date“), the expiry date of the Warrants may be accelerated by the Company in its absolute discretion to the 30th calendar day after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date.
The Common Shares, Warrants, common shares issuable on exercise of the Warrants and FT Shares will be subject to resale restrictions for a period of four months from issuance.
In connection with the closing of the Private Placement, Red Cloud Klondike Strike Inc. (the “Finder“) received an aggregate cash commission of $98,014 , representing commissions of 7% of the gross proceeds raised by the Finder. The Company also granted the Finder 445,518 warrants (the “Finder’s Warrants“), representing 7.0% of the aggregated number of FT Shares sourced by the Finder. Each Finder’s Warrant is exercisable for one common share at a price of C$0.22 for a period of 36 months.
The gross proceeds of the offering of FT shares will be used to incur Canadian exploration expenses, which will be renounced in favour of the purchasers for the 2018 taxation year. The net proceeds from the sale of the Units will be used to advance development of the Company’s properties and for general working capital.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia . Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”
ON BEHALF OF THE BOARD
“Dev Randhawa”
_________________
Dev Randhawa, CEO
Fission 3.0 Corp.
Cautionary Statement: Fission 3.0 Corp.
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements 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”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3.0 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America . The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
SOURCE Fission 3.0 Corp.
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