Cycles surround us. In markets, astronomy, and our lives.
Every day is a circadian cycle for us all. Our bodies move through phases based on our exposure to light or darkness.
Markets are also remarkably cyclical, responding to the environment around them. Interest rates, regulation, monetary policy and investor psychology all play important roles.
Precious metals are no different. The sector’s performance ebbs and flows over time.
An even better example is from 1972 to 1980 when gold returned 1,256% to the S&P 500’s 97%.
Of course, stocks take their turn in the spotlight too.
From 2012 to 2021, stocks returned 336% vs gold’s 16%. And from 1980 to 1999, stocks were absolutely dominant as gold went dormant for nearly two decades.
Over the past few years, both have done well.
The point here is that it’s a cycle.
Just take a look at the chart below. It shows the ratio of S&P 500 performance vs gold through 2021.
I believe we switched back to precious metals mode at the beginning of this year. And if this is the beginning of a fresh cycle, we may be in for another 7-plus years of precious metals outperforming stocks.
Given the magnitude of what we’re facing, it could go on longer than that.
Catalysts and Causes
Periods where gold outperforms tend to be chaotic.
Past catalysts have included a crash at the end of a major bull market (1971 and 2000), and an inflationary shift in monetary policy (1971 and 2000).
Wars often play a part as well, as they did in the 1970s (Vietnam and others), and the early 2000s (War on Terror). Wars spike deficits and increase the monetary supply. They also drive safe-haven demand from both central banks and investors.
I believe our situation today fits the bill.
Stocks are still doing well, for now, but markets look expensive. The chart below, from Longview Economics, shows that 90% of U.S. stock sectors are in their top quartile (25%) of historical valuations.
Stocks are richly valued across almost the entire board. This tends to happen near market peaks. And I don’t see any positive catalysts hiding around the corner to drive sustainable real growth.
Of course, the broad bubble in U.S. stocks could go on for longer than we expect, but at this point, I’m more focused on precious metals and even certain foreign markets.
To be clear, I do own U.S. stocks and will continue to.
But during times like these, I lower that exposure and boost my allocation to alternatives, particularly gold and silver.
Macro Looks Bullish for Gold
The U.S. and many other countries are reaching a tipping point with debt. Total global debt just reached $315 trillion, which is 333% of global GDP.
The Federal Reserve just switched into easy-money mode and is likely to fire up formal QE in the near future. China’s central bank just injected massive liquidity to boost its sluggish economy. More countries will follow suit, and global liquidity is poised to surge.
In addition, we have multiple wars and conflicts raging in Yemen, Ukraine, Israel, Iran and beyond. Nascent proxy wars between the US and Russia are quietly breaking out in multiple African countries.
Military spending is booming, with Russia increasing its annual defense spending to 40% of its total budget. And China’s defense spending now rivals the U.S. in terms of purchasing power parity (PPP). Naturally, the U.S. is no slouch in this area and is also ramping up spending and production.
Durable Catalysts
The stage is set for a powerful precious metals bull market cycle. The problems facing the world are not going away anytime soon. Even if all the conflicts end tomorrow, and they won’t, we’re still facing a structural debt problem of unprecedented magnitude.
Further conflict and spending will just add gas to the fire.
For now, markets seem complacent that all is well with the economy. It won’t last forever. If we get a nice pullback in gold and silver here, and we may well, it’ll be an amazing opportunity to stack up. I will continue to buy on pullbacks.
elowna, British Columbia–(Newsfile Corp. – October 10, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTC Pink: FUUFF) (“F3 Uranium” or the “Company“) is pleased to announce that due to significant investor demand, the Company has increased the gross proceeds of its previously announced private placement (the “Underwritten Offering“) to C$7,000,000. Under the revised Underwritten Offering, the Underwriters (as defined herein) have agreed to purchase for resale 17,500,000 flow-through units of the Company to be sold to charitable purchasers (each, a “Charity FT Unit“) at a price of C$0.40 per Charity FT Unit (the “Offering Price“) on a “bought deal” basis. Red Cloud Securities Inc. is acting as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters“).
Each Charity FT Unit will consist of one common share of the Company (each, a “Common Share“) to be issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a “FT Share“) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant“). Each whole Warrant shall entitle the holder to purchase one Common Share (each, a “Warrant Share“) at a price of C$0.40 at any time on or before that date which is 24 months after the Closing Date (as herein defined).
The Company will grant to the Underwriters an option, exercisable up to 48 hours prior to the Closing Date, to purchase for resale up to an additional 2,500,000 Charity FT Units at the Offering Price for additional gross proceeds of up to C$1,000,000 (the “Over-Allotment Option“, and together with the Underwritten Offering, the “Offering“).
The Company shall have the right to include a list of subscribers to purchase up to 1,250,000 Charity FT Units at the Offering Price for gross proceeds of up to C$500,000 under the Offering (the “President’s List“). The President’s List shall be allocated under the Over-Allotment Option and, for greater certainty, all purchasers under the Over-Allotment Option shall receive Non-LIFE CFT Units (as defined herein) on the terms of the Offering and subject to the resale restrictions noted herein.
Up to 12,500,000 Charity FT Units sold pursuant to the Underwritten Offering (the “LIFE CFT Units“), representing gross proceeds of C$5,000,000, will be offered by way of the “listed issuer financing” exemption under Part 5A (the “LIFE Exemption“) under National Instrument 45-106 – Prospectus Exemptions (“NI 45-106“) in all the provinces of Canada with the exception of Quebec (the “Selling Jurisdictions“). The FT Shares and Warrant Shares issuable pursuant to the sale of the LIFE CFT Units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The remaining 5,000,000 Charity FT Units sold pursuant to the Underwritten Offering as well as the Charity FT Units that may be sold under the Over-Allotment Option (collectively, the “Non-LIFE CFT Units“), which includes the Charity FT Units sold under the President’s List, will be offered by way of the “accredited investor” and “minimum amount investment” exemptions under NI 45-106 in the Selling Jurisdictions. The FT Shares and Warrant Shares issuable pursuant to the sale of Non-LIFE CFT Units will be subject to a hold period in Canada ending on the date that is four months plus one day following the closing of the Offering as defined in Subsection 2.5(2) of Multilateral Instrument 45-102 – Resale of Securities.
The Offering is expected to close on October 31, 2024 (the “Closing Date“). The proceeds of the Offering will be used by the Company to fund the exploration of the Company’s projects in the Athabasca Basin.
There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and at the Company’s website at www.f3uranium.com. Prospective investors should read this offering document before making an investment decision.
About F3 Uranium Corp.
F3 Uranium is a uranium exploration company advancing its newly discovered high-grade JR Zone and exploring for additional mineralized zones on its 100%-owned Patterson Lake North (PLN) Project in the southwest Athabasca Basin. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone discovery is located ~25km northwest of Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits. This area is poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN project is comprised of the PLN, Minto and Broach properties. The Broach property incorporates the former PW property which was obtained from CanAlaska as a result of a property swap.
The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
F3 Uranium Corp. 750-1620 Dickson Avenue Kelowna, BC V1Y9Y2
Contact Information Investor Relations Telephone: 778 484 8030 Email: ir@f3uranium.com
ON BEHALF OF THE BOARD
“Dev Randhawa” Dev Randhawa, CEO
Cautionary Statement:F3 Uranium Corp.
This press release contains “forward-looking information” within the meaning of applicable Canadian and United States securities laws, which is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. The forward-looking information included in this press release are made only as of the date of this press release. Such forward-looking statements and forward-looking information include, but are not limited to, statements concerning the Company’s expectations with respect to the Offering; the use of proceeds of the Offering; completion of the Offering and the date of such completion. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company. Such forward-looking statements and forward-looking information often, but not always, can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements or forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements or forward-looking information, including, without limitation, risks and uncertainties relating to: general business and economic conditions; regulatory approval for the Offering; completion of the Offering; changes in commodity prices; the supply and demand for, deliveries of, and the level and volatility of the price of uranium and other metals; changes in project parameters as exploration plans continue to be refined; costs of exploration including labour and equipment costs; risks and uncertainties related to the ability to obtain or maintain necessary licenses, permits or surface rights; changes in credit market conditions and conditions in financial markets generally; the ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors; the impact of value of the Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market competition; exploration results not being consistent with the Company’s expectations; changes in taxation rates or policies; technical difficulties in connection with mining activities; changes in environmental regulation; environmental compliance issues; other risks of the mining industry; and risks related to the effects of COVID-19. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and F3 Uranium 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.
Here, C.Jay Engel and I discuss how well South Asians assimilate into Western society:
Thanks for the help with editing from my friend, Maurice Jackson; here is the playlist of the speeches from the last Capitalism & Morality seminar:
On Investments
Here are some companies that I am interested in at the mentioned prices. I almost never chase stocks—illiquid stocks often come to me at my limit prices.
Irving Resources (IRV; $0.29): I am spending the next week on a site visit with them. The two joint ventures—one with Newmont and Sumitomo on the Yamagano project and the other with JX Mining on the Omu project—are close to the finish line.
Florida Canyon Gold (FCGV; $0.57): The merger with Integra Resources is underway and should close next month. There is still a 7% arbitrage upside left.
Harfang Exploration (HAR; $0.07): It trades for less than its cash value. The merger with Neworigin (NEWO) should close next month. NEWO is hardly trading but could be worth a bid at $0.015.
Bullet Exploration (AMMO; $0.075): It is merging with Gold79 (AUU; $0.225). At the current share price of AMMO, there is a significant arbitrage upside, although not many shares are available.
Aztec Minerals (AZT; $0.175): They are drilling their project in Arizona. I expect the results to be good. I am sitting on a stink bid, as AZT has increased significantly over the next few days.
Finally, I have recently started conducting weekly online discussions with guests on X. These are mainly on the Third World, focused primarily on India. The discussions are also available on podcast services.
Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendations. I will not and cannot be held liable for any actions you take resulting from anything you read here. Conduct your due diligence or consult a licensed financial advisor or broker before making any investment decisions. Any investments, trades, speculations, or decisions made based on any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
Copper intensity in passenger battery electric vehicles (BEVs) has steadily decreased over the last decade, driven by numerous technological advancements alongside increasing usage of alternative materials such as aluminum.
In this graphic, we visualize the evolution of copper demand in various subcomponents of passenger battery electric vehicles (BEVs) from 2015 to 2030F, along with total global copper demand driven by EVs for the same period. This data comes exclusively from Benchmark Mineral Intelligence.
Year
Wiring
Motor
Copper Foil
Busbar
Auxiliary Motor
Charging Cable
Total
2015
30
8
41.26
13.23
2.87
3.96
99.32
2016
29
8
38.68
13.37
2.85
3.92
95.82
2017
28
7
32.67
12.72
2.84
3.90
87.13
2018
27
7
26.39
11.87
2.82
3.88
78.96
2019
26
7
28.00
10.85
2.78
3.82
78.45
2020
25
7
24.71
10.24
2.73
3.76
73.44
2021
24
6
25.27
9.29
2.69
3.70
70.95
2022
23
7
28.44
8.56
2.65
3.64
73.29
2023
22
7
29.87
8.12
2.61
3.58
73.18
2024F
21
7
27.73
7.67
2.56
3.52
69.48
2025F
20
7
27.79
7.19
2.52
2.51
67.01
2026F
20
7
27.78
6.63
2.48
3.41
67.30
2027F
19
8
27.55
6.15
2.44
3.35
66.49
2028F
18
8
26.77
5.70
2.40
3.30
64.17
2029F
18
8
26.17
5.51
2.39
3.28
63.35
2030F
17
8
25.63
5.44
2.37
3.26
61.70
Copper Intensity Per Car
According to Benchmark Mineral Intelligence, the copper intensity per vehicle is expected to decline by almost 38 kg, from 99 kg in 2015 to 62 kg by 2030.
One of the most significant factors driving this decline is thrifting, where engineers and manufacturers continuously improve the efficiency and performance of various components, leading to reduced copper usage. A key example of this is in battery production, where the thickness of copper foil used in battery anodes has significantly decreased.
In 2015, Benchmark estimated copper foil usage was just over 41 kg per vehicle (at an average thickness of 10 microns), but by 2030, it is projected to fall to 26 kg as manufacturers continue to adopt thinner foils.
Similarly, automotive wiring systems have become more localized, with advances in high-voltage wiring and modular integration allowing for reduced copper content in wiring harnesses.
Copper used in wiring has dropped from 30 kg per vehicle in 2015 to a projected 17 kg by 2030.
Newer, more compact power electronics and improved thermal management in motors and charging cables have also contributed to the reduction in copper usage.
Substitution has also played a role, with alternatives such as aluminum increasingly being used in components like busbars, wiring harnesses, and charging cable applications.
Aluminum’s lighter weight and lower cost have made it a practical alternative to copper in specific applications, though the additional space required to achieve the same level of conductivity can limit its use in certain cases.
Benchmark estimates that copper used in automotive wire harnesses has declined by 30% between 2015 and 2024.
The Road Ahead
Despite reductions in per-vehicle copper usage, the outlook for copper demand from the EV sector remains strong due to the sector’s growth.
Year
EV Sector Copper Demand (tonnes)
2015
56K
2016
82K
2017
111K
2018
166K
2019
179K
2020
237K
2021
447K
2022
696K
2023
902K
2024F
1.0M
2025F
1.2M
2026F
1.5M
2027F
1.7M
2028F
2.0M
2029F
2.2M
2030F
2.5M
Benchmark’s analysis indicates that by 2030, copper demand driven by EVs alone will exceed 2.5 million tonnes, securing copper’s critical role in the transition to a low-carbon future.
Kelowna, British Columbia–(Newsfile Corp. – October 9, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTC Pink: FUUFF), Dev Randhawa, Chairman & CEO, is pleased to announce that the company will be presenting at Red Cloud’s Fall Mining Showcase. We invite our shareholders and all interested parties to join us there.
The annual conference will be hosted in-person, at the Sheraton Centre Toronto Hotel on October 16 & 17, 2024.
Management from F3 Uranium Corp. will be holding one-on-one investor meetings throughout the three-day conference.
F3 Uranium is a uranium exploration company advancing its newly discovered high-grade JR Zone and exploring for additional mineralized zones on its 100%-owned Patterson Lake North (PLN) Project in the southwest Athabasca Basin. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone discovery is located ~25km northwest of Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits. This area is poised to become the next major area of development for new uranium operations in northern Saskatchewan.
Kelowna, British Columbia–(Newsfile Corp. – October 9, 2024) – Strathmore Uranium Corp, (TSXV: SUU) (OTCQB: SUUFF), Strathmore Uranium, is pleased to announce that the company will be presenting at Red Cloud’s Fall Mining Showcase. We invite our shareholders and all interested parties to join us there.
The annual conference will be hosted in-person, at the Sheraton Centre Toronto Hotel on October 16 & 17, 2024.
Dev Randhawa – Chairman & CEO will be presenting on October 17th at 4:00 PM Eastern Standard time.
Strathmore has three permitted uranium projects in Wyoming. Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium mineralization in typical Wyoming-type roll front deposits based on historical and recent drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.
Vancouver, British Columbia–(Newsfile Corp. – October 4, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce it has recently repurchased shares in a block trade from an undisclosed seller via its existing Normal Course Issuer Bid (“NCIB”) in the amount of two million shares at a price of C$2.05, totaling C$4.1 million or approximately US$3.0M. Since the NCIB was announced on February 7, 2024, EMX has purchased a total of 2,805,346 shares at an average price of C$2.15, totaling approximately C$6.0M. EMX may purchase a remaining 2,194,654 shares under the current NCIB program expiring February 13, 2025.
EMX CEO Dave Cole commented “EMX is committed to astute allocation of capital. We believe EMX shares are undervalued. Buybacks at these levels should provide exceptional risk-adjusted returns on capital.”
About EMX – EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results, but which are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to the Company being unable to comply with the covenants under the Credit Agreement, including the repayment of any amounts owing under the Loan, and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR+ at www.sedarplus.caand on the SEC’s EDGAR website atwww.sec.gov.
People are often not aware of where their most prized devices really come from.
Phones, cars, and computers might not seem like the most natural objects. But the metals that make them come from natural processes deep in the earth’s crust – processes that have been going on for 3.4 billion years, and continue to this day.
Today’s visualization comes to us from Foran Mining Corp. and goes in depth to show how one type of mineral deposit, Volcanogenic Massive Sulphide or “VMS”, forms and is the primary source for many of the materials that make the modern world.
What is a VMS Deposit?
Volcanogenic Massive Sulphide (VMS) deposits are one of the richest sources of metals such as copper, lead, and zinc globally. VMS deposits can also produce economic amounts of gold and silver as byproducts of mining these deposits.
Currently, global metal production from VMS deposits account for 22% of zinc, 9.7% of lead, 6% of copper, 8.7% of silver and 2.2% of gold.
Where are VMS deposits found?
VMS deposits occur around the globe and often form in clusters or camps, following the tectonic plate boundaries in areas of ancient underwater volcanic activity.
Natural processes underway today are forming the VMS deposits of tomorrow. This gives scientists an incredible advantage in witnessing how VMS deposits form and gives a special advantage to geologists for what to look for.
Mineralization and Formation
The geological processes that form VMS deposits occur at the depths of the ocean and are associated with volcanic and/or sedimentary rocks.
At sections where the Earth’s crust is thin due to faulting or separation of tectonic plates, the magma heats up the ocean floor.
As the Earth’s crust heats up, the ground softens and allows heated magma to escape towards the ocean or crust contact, the early beginning of a volcano and the deposition of minerals into the ocean floor from magma. Also, the heated ground cracks and begins a process that draws in sea water into the crust which becomes super-heated and imbued with minerals. Black and white smokers expel this seawater back to the surface.
Black and white smokers exhale a mineral rich-plume that spreads out over the ocean floor. As it moves farther and farther away from its heat source, the plume precipitates minerals onto the ocean floor. Over time, the continual activity of the smokers and their mineral rich plumes create mineralized beds that become VMS deposits.
With the movement of the Earth’s tectonic plates, these mineral rich beds are transposed and can be found on land that was once underwater.
How Big Can VMS Deposits Get?
Current resource and historical production figures from 904 VMS deposits around the world average roughly 17 million tonnes (“Mt”), of which is approximately 1.7% copper, 3.1% zinc, and 0.7% lead.
A few giant mineral deposits (greater than 30 Mt) and several copper-rich and zinc-rich deposits of median tonnage (~2 Mt) skew the averages.
Several large VMS camps are known in Canada, including the Flin Flon, Bathurst and Noranda camps. The high-grade deposits within these camps are often in the range of five to 20 million tonnes of ore and can be much larger.
Meanwhile, approximately 90 VMS deposits have been discovered in the Iberian Pyrite Belt which runs through Portugal and Spain. Several of these are larger than 100 million tonnes, making this region one of the most significant hosts to VMS deposits in the world.
VANCOUVER, BC / ACCESSWIRE / October 3, 2024 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company”) is pleased to announce that the now completed 2024 drill campaign on at its wholly owned Carmacks copper-gold-silver project located in central Yukon, Canada yielded the discovery of a new mineralized zone.
The drill program consisted of 1420 metres in four drill holes, designed to test new targets adjacent to existing high-grade, pit-constrained resources, and was successful in locating and partially delineating the Gap Zone. The newly discovered zone was traced for approximately 170 meters and remains open along strike and at depth, with copper mineralisation observed in three of four drill holes. The Gap Zone lies between the proposed 147 and 2000S pits and was first identified by a 2022 geophysical IP survey (see news release dated November 21, 2022). Likely representing a fault offset from the main 147 Zone, the Gap Zone has the potential to add significant tonnage and extend the mine life envisioned by the 2023 Preliminary Economic Assessment (see news release dated January 19, 2023)
Mineralized sections have been sampled and delivered to the lab for analysis with results pending. Observed mineralization and host rocks were similar in appearance to known ore zones on the property.
Figure 1 – Gap Zone plan view showing drill locations and trace
Granite Creek President and CEO, Timothy Johnson, stated, “We are pleased to confirm the effectiveness of the induced polarity geophysical technique in predictive targeting of mineralization at the Carmacks project. Despite a long history of exploration on the project primarily focused on the 147 Zone, new discoveries can and will continue to be made on our Carmacks copper-gold-silver project. The project hosts significant copper-gold-silver resources and has the potential for expansion throughout the 177 square kilometre land package in this top mining jurisdiction.”
Carmacks Deposit
The 177 sq km, Carmacks project contains over 824 Mlbs Measured and Indicated and 29 Mlbs Inferred copper equivalent (“CuEq”) metal within a National Instrument 43-101-compliant, high-grade resource of 36.2 million tonnes grading 1.07 % CuEq (0.81% Cu, 0.31 g/t Au, 3.41 Ag)1. The road accessible project is located along the Freegold Road, a Resource Gateway Road currently being upgraded by the Yukon government and is within 20 km of the Yukon electrical grid. The project is also situated within the Minto Copper Belt, a roughly 80 km long belt of rocks known for high grade occurrences of copper-gold-silver mineralisation.
The 2022 Carmacks Preliminary Economic Assessment (“PEA”), completed by SGS Canada, identified increased resources along with improved recovery as prime means of increasing the Net Present Value (“NPV”) of the project. Work completed this year by Kemetco Research (see news release dated January 17, 2024) demonstrated that recoveries exceeding the target outlined in the PEA can be achieved. The just completed drill program was designed to show that significant resource expansion is possible and was specifically targeting areas that could lead to an expanded mine life as envisioned by the PEA.
LS Molybdenum Project
The vendors of LS molybdenum project have agreed to defer work commitment the Company needed to complete for the calendar year for 2024. 750,000 shares have been issued to the vendors per the terms of the earn in agreement (see news release dated March 23, 2023).
About Granite Creek Copper
Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical minerals projects in North America. The Company’s projects consist of its flagship 177 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.
FOR FURTHER INFORMATION PLEASE CONTACT: Timothy Johnson, President & CEO Telephone: 1 (604) 235-1982 Toll Free: 1 (888) 361-3494 E-mail: info@gcxcopper.com Website: www.gcxcopper.com
Qualified Person
Debbie James P.Geo, has reviewed and approved the technical information contained in this news release. Ms. James is a Qualified Person as defined in NI 43-101 and supervised the 2024 drilling program
1Mineral Resources are reported within a conceptual constraining pit shell that includes the following input parameters: Metal prices of $3.60/lb Cu, $1,750/Au, $22/oz Ag, $14/lb Mo and pit slope angles that vary from 35° for overburden to 55°for granodiorite host, metal prices are in US$. Metallurgical recoveries reflective of prior test work that averages: 85% Cu, 85% Au, 65% Ag in the oxide domain and 90% Cu, 76% Au, 65% Ag in the sulphide domain. Mo recovery is assumed to be 70% in both oxide and sulphide domain. Totals and Metal content may not sum due to rounding and significant digits used in calculations. Cu Eq calculation is based on 100% recovery of all metals using the same metal prices used in the resource calculation: $3.60/lb Cu, $1,750/Au, $22/oz Ag, $14/lb Mo.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements” or “forward-looking information”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding expected use of proceeds from the private placement and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Granite Creek Copper Ltd.
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