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Vancouver, British Columbia–(Newsfile Corp. – January 17, 2019) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) (“Miramont” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement of up to 2,857,143 units (“Units“) at a price of $0.35 per Unit for aggregate gross proceeds of up to approximately $1,000,000 (the “Private Placement“). The Company intends to use the proceeds from the Private Placement for its planned drilling activities at Cerro Hermoso, advancing the Lukkacha project and general working capital purposes. Closing of the Private Placement is expected to occur on or before January 31, 2019 (the “Closing Date“).
Each Unit will consist of one (1) common share (each, a “Common Share“) in the capital of the Company and one (1) transferrable common share purchase warrant (each, a “Warrant“). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.50 per Common Share until the date which is two (2) years from the Closing Date. The Company may pay certain finders a fee for introducing eligible participants to the Private Placement.
All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the Closing Date.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.
About Miramont Resources Corp.
Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s key assets are located in southern Peru. The Cerro Hermoso property hosts a 1.4km diameter breccia pipe targeting gold – polymetallic mineralization, while the Lukkacha property is targeting porphyry copper mineralization.
On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.
“William Pincus”
William Pincus, President and CEO
For more information, please contact the Company at:
Telephone: (604) 398-4493
info@miramontrresources.com
www.miramontresources.com
Reader Advisory
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to the use of proceeds from the Private Placement. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
VANCOUVER, British Columbia, Jan. 17, 2019 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU:TSX-V) (AUXXF:OTCQX) reports on the progress of its high-impact discovery drilling campaign. A total of 6 projects located principally in the world-class gold mining jurisdiction of Nevada are slated for drilling over a 10-12 month period, to approximately June 2019. Drilling commenced at the Red Hills project in August 2018 and drilling at a third project, North Brown, was completed in December and final assays are expected within one week. Assay results for Hughes Canyon (the second property drilled) have now been received in full.
ALLEGIANT completed 2,139 meters of drilling in 12 rotary holes at Hughes Canyon. Hydrothermal alteration was encountered in 10 of the 12 holes in several different stratigraphic units in a faulted and folded Mesozoic sedimentary package. Gold and silver values above 0.10 g/t gold encountered in the drilling are available at the following link:
www.allegiantgold.com/nr/2019-01-17-assays.pdf
Overall the drilling results at Hughes Canyon are encouraging and suggest more drilling is necessary, however in the context of prioritizing expenditures on ALLEGIANT’S large portfolio of prospective exploration properties, Hughes Canyon will be abandoned.
ALLEGIANT expects to resume the “discovery drilling campaign” at the 4thproject, Monitor Hills, in about one week.
Qualified Person
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Wallace has reviewed and approved the technical content of this press release.
ABOUT ALLEGIANT
ALLEGIANT owns 100% of 14 highly-prospective drill-ready gold projects in the United States, 11 of which are located in the mining-friendly jurisdiction of Nevada. ALLEGIANT’s flagship Eastside project hosts a large and expanding gold resource, is district scale, and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.
Further information regarding ALLEGIANT can be found at www.allegiantgold.com
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include but are not limited to statements and information regarding ALLEGIANT’s drilling and exploration plans and results for its properties, including anticipated timing thereof; and the Eastside project’s resource expansion. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in ALLEGIANT’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under ALLEGIANT’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. ALLEGIANT undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Ryan King, Vice President Corporate Development of Calibre Mining sits down with Maurice Jackson of Proven and Probable to discuss the value proposition on their flagship Borosi Project covering over a massive land position of 800 square kilometers in Nicaragua.Today’s interview is the most comprehensive interview to date on Calibre Mining. The Borosi Project hosts the Eastern Borosi, Siuana, La Luz, and Primavera projects, which Mr. King will discuss in great detail, along with the relationship and contractual obligations of Calibre Mining’s Joint Venture partners (Centerra Gold, IAMGold, Rosita Mining)on these projects respectively. We discuss in detail each member of the Board of Directors, Management, and Technical team, which is comprised of a number of key members of the recent success of Newmarket Gold, which recently went from a $10 Million Market Cap to $1 Billion Market Cap and was sold to Kirkland Lake Gold . Finally, we will delve into the capital structure of Calibre Mining. Important to note, Calibre Mining has $0 Debt, and a Management and Board with proven success of optionality and arbitrage.
Original Source: https://www.streetwisereports.com/article/2019/01/16/exploring-for-world-class-gold-silver-and-copper-deposits-in-nicaragua.html
Source: Maurice Jackson for Streetwise Reports (1/16/19)
Ryan King, vice president of corporate development at Calibre Mining, sits down with Maurice Jackson of Proven and Probable to discuss his company’s joint ventures, exploration in Nicaragua and strategic plans.
Vancouver, British Columbia–(Newsfile Corp. – January 16, 2019) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”) today reported drill results from the Hinge Zone (“DHZ”) and South Limb Zone (“DSL”) at its 100% owned Dixie Project in the Red Lake District of Ontario. Results include 1,602.73 g/t gold over 0.70 metres (approximate true width) at 150 metres vertical depth. An image of the gold mineralization in DHZ-014 is shown in Figure 1.
Figure 1: Image of 1,602.73 g/t (51.29 ounces per tonne) gold in Hinge Zone drill hole DHZ-014. The image is selective and is not representative of the gold mineralization hosted on the property.
To view an enhanced version of this Figure 1, please visit:
https://orders.newsfilecorp.com/files/5331/42231_6696894dc44bf92d_002full.jpg
Chris Taylor, President and CEO of Great Bear said: “Our Hinge and South Limb Zone are part of a continuous gold vein system which is interpreted to extend along 300 metres in strike length and has been drill tested to a depth of 212 metres. The zone remains open in all directions and occurs immediately south of a regional east-west trending D2 fold hinge and associated structures which extends for approximately 10 kilometres into undrilled areas. For comparison, the Red Lake-Campbell complex (Red Lake Gold Mine) also occurs proximal to a regional D2 fold where shear zones developed and acted as primary hydrothermal fluid conduits, across a 3.2 kilometre by 2.2 kilometre area. Great Bear’s 2019 drill program is fully funded, and results will continue to be released regularly in batches as the program progresses.”
Hinge zone hole DHZ-014 intersected a 10.1 metre wide vein zone (approximate true width). Visible gold was observed at both its upper and lower contacts (Table 1). The vein zone is part of the larger Hinge/South Limb vein system, which parallels an ultramafic unit and deep-seated fault at the centre of the Dixie gold system (Figure 2). The DSL/DHZ vein system has been intersected in 28 drill holes across 300 metres of strike length to-date and is open along strike and at depth. The D2 fold axis that appears to be a significant gold control has been traced through geophysical methods across more than 10 kilometres of strike length. DHZ-014 was drilled to test Great Bear’s 3D vein model, which accurately predicted veining would be present within 15 metres of the actual intercept.
Table 1: Detailed assay results including both metric and imperial units from across the complete mineralized zone in Hinge zone drill hole DHZ-014. Interval begins at 150 metres vertical depth.
Drill Hole | From (m) | To (m) | Width* (m) | Gold (g/t) | Gold (oz/t) | Width* (ft) | |
DHZ-014 | top contact | 176.50 | 177.00 | 0.50 | 58.40 | 1.87 | 1.64 |
180.70 | 186.60 | 5.90 | 190.78 | 6.11 | 19.36 | ||
vein interval | 181.80 | 185.10 | 3.30 | 340.90 | 10.91 | 10.83 | |
lower contact | 183.90 | 185.10 | 1.20 | 935.64 | 29.94 | 3.94 | |
including | 184.40 | 185.10 | 0.70 | 1602.73 | 51.29 | 2.30 |
* width is determined to be 95-100% of true width based on intersection points of the drill hole intercept with the geological model and oriented drill core data. Complete assays of zone below in Table 3.
Other results include additional gold intervals from previously reported Hinge and South Limb drill holes (see news release of December 12, 2018), identified during assaying of the entire drill holes, and are provided in Table 2. 8 of 19 drill holes completed in December 2018 across 220 metres strike length of the South Limb and Hinge zones intersected intervals of greater than 15 g/t gold.
Table 2: Additional gold intervals from drill holes previously released by Great Bear from the Hinge and South Limb Zones. Original results were provided on December 12, 2018.
Drill Hole | From (m) | To (m) | Width (m) | Gold (g/t) | Vertical Depth (m) | Zone | |
DHZ-012 | 275.60 | 277.60 | 2.00 | 2.73 | 223 | Hinge | |
including | 275.60 | 276.15 | 0.55 | 6.02 | |||
DSL-014 | 100.50 | 102.00 | 1.50 | 4.16 | 81 | South Limb | |
and | 163.50 | 166.50 | 3.00 | 4.85 | 132 | ||
including | 164.50 | 166.50 | 2.00 | 7.17 | |||
and including | 164.50 | 165.50 | 1.00 | 13.33 | |||
and including | 164.50 | 165.00 | 0.50 | 25.82 | |||
DSL-015 | 165.85 | 170.80 | 4.95 | 1.21 | 156 | South Limb | |
including | 169.50 | 170.30 | 0.80 | 5.45 | |||
and | 173.00 | 173.50 | 0.50 | 9.33 |
* width is determined to be 95-100% of true width based on intersection points of the drill hole intercept with the geological model and oriented drill core data.
A cross section through the Hinge Zone is shown on Figure 2. A map showing the Dixie gold zones and current drill results is shown on Figure 3. A long section through the South Limb and Hinge zones is shown on Figure 4. All assays received from the mineralized zone in DHZ-014 and a description of the observed geology are provided in Table 3.
Figure 2: Cross section of Hinge Zone showing central ultramafic and adjacent drill results to-date. Dixie Limb Zone is located to the right of this image and also parallels the central ultramafic.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5331/42231_6696894dc44bf92d_003full.jpg
Figure 3: Plan map of the Dixie Gold System showing the drill collar locations and hole traces of currently reported gold results.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5331/42231_6696894dc44bf92d_004full.jpg
Great Bear is currently undertaking a fully-funded 30,000 metre, approximately 150 drill hole program that is expected to continue through 2019 and 2020. A second drill rig will be added to the project in early 2019 to accelerate this work.
Additional photos of mineralization are provided at the Company’s web site at www.greatbearresources.com.
Webinar
Great Bear will host a webinar to discuss the Company’s recent drill results and its recently released 3D model. The webinar will take place on Thursday, January 17th at 11:00am PST/2:00pm EST. Management will be available to answer questions following the presentation. Online access and dial-in numbers are:
Readytalk Platform (access at the time of event):
* http://www.readytalk.com/join
* Access code: 5147677
Dial-In Numbers:
* Canada: +1-647-722-6839
* United States: +1-303-248-0285
* Access Code: 5147677
Figure 4: Long section through the DHZ/DSL as drilled to-date showing currently reported drill results.
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/5331/42231_6696894dc44bf92d_005full.jpg
Table 3: All assay intervals and geological description of each interval of DHZ-014 in the vein zone.
Drill Hole | From (m) | To (m) | Gold (g/t) | Description |
DHZ-014 | 176.5 | 177 | 58.4 | High-Fe Tholeiitic Pillow Basalt with quartz veining with visible gold |
DHZ-014 | 177 | 177.5 | 0.066 | High-Fe Tholeiitic Pillow Basalt |
DHZ-014 | 177.5 | 178.5 | 0.027 | High-Fe Tholeiitic Pillow Basalt |
DHZ-014 | 178.5 | 180 | 0.023 | High-Fe Tholeiitic Pillow Basalt |
DHZ-014 | 180 | 180.7 | 0.031 | High-Fe Tholeiitic Pillow Basalt |
DHZ-014 | 180.7 | 181.2 | 0.297 | High-Fe Tholeiitic Pillow Basalt |
DHZ-014 | 181.2 | 181.8 | 0.385 | High-Fe Tholeiitic Pillow Basalt |
DHZ-014 | 181.8 | 182.4 | 2.955 | Quartz Vein |
DHZ-014 | 182.4 | 182.9 | 0.285 | Quartz Vein |
DHZ-014 | 182.9 | 183.4 | 0.169 | High-Fe Tholeiitic Pillow Basalt |
DHZ-014 | 183.4 | 183.9 | 0.367 | Argillite |
DHZ-014 | 183.9 | 184.4 | 1.715 | Argillite |
DHZ-014 | 184.4 | 185.1 | 1602.73 | Quartz Vein with 3-5% visible gold |
DHZ-014 | 185.1 | 185.6 | 0.137 | Quartz Vein |
DHZ-014 | 185.6 | 186.1 | 0.337 | Calc-Alk Massive Basalt |
DHZ-014 | 186.1 | 186.6 | 0.119 | Calc-Alk Massive Basalt |
About Great Bear
The Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined 10 kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s Madsen property. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.
Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster Ontario, and SGS Canada Inc. in Red Lake, Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
ON BEHALF OF THE BOARD
“Chris Taylor”
Chris Taylor, President and CEO
Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca
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.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
We seek safe harbor
TORONTO , Jan. 16, 2019 /CNW/ – Treasury Metals Inc. (TML.TO) (“Treasury Metals” or the “Company”) is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with Eagle Lake First Nation in relation to the Company’s Goliath Gold Project in Northwestern Ontario (the “Project”).
The MOU is a framework agreement between Eagle Lake First Nation and Treasury Metals to facilitate effective communication, engagement, and negotiation between the Parties with respect to the Project. The MOU will serve as an avenue to facilitate Eagle Lake First Nation’s meaningful continued participation in the federal environmental assessment and regulatory approval process for the Project. Further, the MOU provides a structure for additional opportunities and pathways to participate in the Project through employment, training and business development, financial participation and environmental and cultural protection.
Greg Ferron , CEO of Treasury, states, “A key goal of the Goliath Gold Project is to reflect the knowledge and input of all stakeholders and Indigenous communities in the development of the Goliath Gold Project and Eagle Lake First Nation’s regional experiences, and local traditional knowledge will help with the development of a socially and environmentally responsible Project.”
On behalf of Eagle Lake First Nation, Chief Arnold Gardner commented, “Signing an MOU with Treasury Metals is a positive step moving forward toward building trust with the community of Eagle Lake First Nation which is an important step in the process.”
To view further details about the Goliath Gold Project, please visit the Company’s website at www.treasurymetals.com.
Follow us on Twitter @TreasuryMetals
About Treasury Metals Inc.:
Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange (“TSX”) under the symbol “TML” and on the OTCQX® Best Market under the symbol TSRMF. Treasury Metals Inc.’s 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada’s next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 per day processing plant with subsequent underground operations in the latter years of the mine life.
About Eagle Lake First Nation:
The Eagle Lake First Nation is situated on the northeast shores of Eagle Lake and is located in the heart of the Canadian Shield in the boreal forests and lakes of Northwestern Ontario . The community is approximately 25 km southwest of Dryden and is accessible via Highways 502 and 594, and is a two hour drive from the U.S. border. Eagle Lake’s total on-reserve population as of December 2018 is 238.
The people of Eagle Lake are governed by a Chief and three Council members, elected every two years under the Indian Act. Eagle Lake is part of the Grand Council Treaty #3 which was signed on October 3 , 1873. Grand Council Treaty #3 covers 55,000 square miles.
Eagle Lake First Nation is located within the Grand Council Treaty #3 territory with a land base of 55,000 square miles in Northwestern Ontario . Eagle Lake First Nation of Eagle Lake is also referred to as Migisi Sahgaigan (Ojibway translation of Eagle Lake ).
For further information about the community of Eagle Lake First Nation please visit: http://www.eaglelakefirstnation.ca/.
Forward-looking Statements
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
SOURCE Treasury Metals Inc.
View original content: http://www.newswire.ca/en/releases/archive/January2019/16/c7365.html
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Uranium Energy Corp Announces New and Consolidated NI 43-101 Mineral Resources* at the Reno Creek ISR Project, Wyoming
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
TORONTO , Jan. 15, 2019 /CNW/ – Excellon Resources Inc. (TSX:EXN and OTC:EXLLF) (“Excellon” or the “Company”) is pleased to announce fourth quarter and annual 2018 production results from the Platosa Mine in Durango, Mexico .
Highlights
“We realized strong improvements in production in Q4 over Q3 2018, though December scheduling and lower base metal prices impacted silver equivalent production,” stated Brendan Cahill , President and CEO. “Overall, 2018 was a strong year, with record tonnage processed at our Miguel Auza facility and Platosa optimization efforts continuing to pay off. We continue to identify and pursue opportunities to increase metal production and remain focused on increasing daily tonnage while maintaining improved ore grades.”
Production Results
Q4 2018 | Q4 2017 | 2018 | 2017 | |
Tonnes Mined | 16,570 | 16,114 | 57,475 | 57,165 |
Ore processed (t) | 16,132 | 15,203 | 56,874 | 54,425 |
Historical stockpile processed (t) | 5,209 | 2,775 | 24,130 | 9,316 |
Tonnes Milled | 21,341 | 17,978 | 81,004 | 63,742 |
Ore grades | ||||
Silver (g/t) | 556 | 467 | 488 | 429 |
Lead (%) | 4.90 | 4.19 | 4.87 | 4.12 |
Zinc (%) | 6.07 | 6.49 | 6.90 | 5.92 |
Historical stockpile grades | ||||
Silver (g/t) | 152 | 191 | 163 | 181 |
Lead (%) | 1.49 | 1.72 | 1.55 | 1.55 |
Zinc (%) | 1.57 | 2.09 | 1.95 | 1.69 |
Blended head grades | ||||
Silver (g/t) | 458 | 424 | 391 | 393 |
Lead (%) | 4.07 | 3.81 | 3.88 | 3.75 |
Zinc (%) | 4.97 | 5.81 | 5.42 | 5.30 |
Recoveries | ||||
Silver (%) | 89.7 | 90.3 | 89.2 | 89.3 |
Lead (%) | 81.2 | 80.0 | 79.4 | 80.9 |
Zinc (%) | 79.4 | 82.2 | 80.8 | 81.4 |
Metal Production* | ||||
Silver (oz) | 274,324 | 223,349 | 917,714 | 718,460 |
Lead (lb) | 1,498,851 | 1,198,286 | 5,446,218 | 4,241,225 |
Zinc (lb) | 1,824,406 | 1,897,894 | 7,894,186 | 6,059,922 |
AgEq (oz)** | 509,043 | 475,007 | 1,929,092 | 1,470,650 |
Average Realized Prices | ||||
Silver | $14.74 | $16.32 | $15.62 | $16.89 |
Lead | $0.89 | $1.14 | $1.01 | $1.08 |
Zinc | $1.17 | $1.45 | $1.34 | $1.34 |
* | Subject to adjustment following settlement with concentrate purchaser. |
** | AgEq ounces established using average realized metal prices during the period indicated |
Production during Q4 2018 improved over Q3 2018 and Q4 2017 as multiple ore faces were accessed in the Rodilla, 623, Guadalupe South and Pierna mantos with higher grades and recoveries realized. With ongoing access to multiple ore faces, production is expected to improve further as development progresses toward the next production horizon in level 924.
The Company expects to release fourth quarter financial results at market open on March 20, 2019 .
Qualified Persons
Denis Flood , P. Eng., Vice President Technical Services, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information relating to production results contained in this press release.
About Excellon
Excellon’s 100%-owned Platosa Mine has been Mexico’s highest-grade silver mine since production commenced in 2005. The Company is focused on optimizing Platosa’s cost and production profile, discovering further high-grade silver and carbonate replacement deposit (CRD) mineralization on the 21,000 hectare Platosa Project and epithermal silver mineralization on the 100%-owned 45,000 hectare Evolución Property, and capitalizing on current market conditions by acquiring undervalued projects in the Americas.
Additional details on the La Platosa Mine and the rest of Excellon’s exploration properties are available at http://www.excellonresources.com/.
Forward-Looking Statements
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties, and particularly the September 7, 2018 NI 43-101 technical report prepared by SRK Consulting ( Canada ) Inc. with respect to the Platosa Property. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
SOURCE Excellon Resources Inc.
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