|
|||||||||||||||||||||
|
|
Proven ProbableCategory: Junior Mining
VANCOUVER, British Columbia, Jan. 14, 2019 (GLOBE NEWSWIRE) — Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) is pleased to provide a summary of exploration results from the 2018 exploration program on their 100% owned Justin Gold Project in the Yukon Territory. Work completed in 2018 included the collection of 19 channel and 28 chip samples from 5 trenches, 16 rock samples, 7 till samples and 240 soil samples with coverage totaling 6.0 line-km. The 2018 field program focused primarily on the Lost Ace Zone, a gold bearing zone discovered in 2017. Lost Ace is located 2 kilometers west of Aben’s POW Zone where past drill results indicate potential for bulk-tonnage gold mineralization with intercepts reported ranging from trace values to highs of 1.19 g/t Au over 60.0 m (including 2.47 g/t Au over 21.0 m) and 1.49 g/t Au over 46.4 m.
Justin Gold Project, Yukon location map:
https://www.abenresources.com/site/assets/files/4303/abn_justin_project_-_property_location_2017_small.jpg
2018 results from trenches TR18-001 through TR18-005 (115 m2) from the Lost Ace quartz stockwork vein zone include:
- TR18-001 returned values ranging from trace to an average of 20.8 grams/tonne (g/t) gold (Au) over 4.4 m, including 88.2 g/t gold (Au) over 1.0 m. Visible gold was observed in the sample returning 88.2 g/t gold (Au).
- The 2018 high-grade samples were collected 127 meters from 2017 discovery outcrop and within 20 meters from where a bulk soil sample returned 1135 visible gold grains in 2017.
- TR18-003 returned 0.9 g/t gold (Au) over 1.0 m while three grab samples from a large quartz boulder excavated from the contact zone returned 7.3 g/t Au, 3.9 g/t gold and 4.6 g/t gold respectively. Visible gold was also noted in one of these samples. TR18-003 was completed as an extension to TR17-004 which returned 4.7 g/t gold (Au) over 1.0 m. This particular trend of quartz stockwork veining has now been exposed over 8.0 meters.
Mineralization at Lost Ace is interpreted to be orogenic-style quartz-gold veins that bear a strong resemblance to and share similar geologic setting with Golden Predator’s adjacent 3 Aces Property. Previous exploration at Justin has successfully discovered Intrusion related sheeted veins & vein breccias along with gold bearing skarn mineralization. The new discovery at Lost Ace highlights the existence of a multi-phase hydrothermal system with the potential for overprinting mineralizing systems.
Mike Burke, P. Geo., and former Chief Geologist with Golden Predator Mining Corp. states “The orogenic style mineralization discovered at Lost Ace shares many characteristics with the orogenic veins discovered at the 3 Aces project. Exploration at 3 Aces has shown the regionally extensive stratigraphic contact in the middle Yusezyu Formation contains consistently highly-anomalous gold values. The discovery of gold mineralization in the upper Yusezyu Formation at Lost Ace suggests newly discovered orogenic gold mineralization could occur over a significant stratigraphic extent between the upper and middle Yusezyu Formation on the Justin Property. In addition, the previously discovered intrusive related gold mineralization at the POW Zone would have intruded through the prospective stratigraphy which hosts the older orogenic mineralization in the district potentially enhancing grades in the intrusion related gold system.”
The new zone at Lost Ace is located at the northern end of a 250 meter gold-in-soil soil anomaly that remains open in all directions. The soil geochemical response may be somewhat muted due to the thick glacial cover in the area. Channel sampling at Lost Ace in 2017 returned 1.44 g/t Au over 5.0 m including 4.77 g/t Au over 1.0 meter. Also a bulk soil sample taken from the area contained 1135 visible gold grains, the majority of which were termed ‘pristine’ indicating a proximal bedrock source for the gold.
Coarse Gold Grains from Justin Project, Lost Ace Zone, Yukon:
https://www.abenresources.com/site/assets/files/4303/abn_justin_jn2018_
coarse_gold_grains.jpg
In addition to the new Lost Ace Zone, several other high-priority exploration targets are located within 1 km of the POW Zone. Defined by geophysics and geochemistry, these targets remain untested and represent significant potential for expanding the current extent of the intrusion related gold system.
Table 1 – 2018 Trench Summary Results
| Zone | Trench | Easting | Northing | Composite Channel Sample Results |
| Lost Ace | TR18-001 | 4.40 m @ 20.8 g/t gold | ||
| Lost Ace | TR18-002 | 1.00 m @ 0.3 g/t gold | ||
| Lost Ace | TR18-003 | 1.00 m @ 0.9 g/t gold | ||
| Lost Ace | TR18-004 | No Significant Results | ||
| Lost Ace | TR18-005 | No Significant Results |
*True thickness is interpreted to be 50-60% of the sampled interval
Analytical and QA/QC description
All samples were submitted to ALS Minerals in Whitehorse for preparation. Geochemical analysis was completed at ALS Minerals Laboratory in Vancouver. The following analytical techniques were used for all rock samples: ME-MS41, Au-AA26 50 g Fire Assay and a select grouping of samples were further analyzed by a Screen Metallic Fire Assay Method Au-SCR24C. All gold values reported in the news release are the total gold value provided by the Screen Metallic Fire Assay Method. The following analytical techniques were used for all soil samples: ME-MS41, Au-ST43 and Au-AROR43 for all samples > 0.1 ppm Au. The Company’s QAQC measures included insertion of external blanks and standards into the sample stream for all rock chip/channel samples. A minimum of one standard sample and one blank sample were inserted for each continuous set of trench samples. Additional QAQC samples were added to the sample sequence at the discretion of the geologist where visible gold was noted in quartz vein material.
Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia, the Yukon Territory, and Saskatchewan. Aben is a well-funded junior exploration company with approximately $5.6 million in its treasury and no debt.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”
____________________________
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Don Myers
Aben Resources Ltd.
Director, Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com
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 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 expects, are forward-looking statements. Although management 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. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
VANCOUVER, British Columbia, Jan. 11, 2019 (GLOBE NEWSWIRE) — Columbus Gold Corp. (CGT: TSX, CGTFF: OTCQX) (“Columbus”) is pleased to announce a non-brokered private placement for gross proceeds of up to CAN$2 million, and to provide an update on the status of the Montagne d’Or gold mine project (Columbus 44.99% and Nordgold 55.01%) in French Guiana.
The private placement* will be for up to 10,000,000 units at a price of $0.20 per unit. Each unit will be comprised of one common share of Columbus, and a half warrant. Each full warrant will entitle the holder, on exercise, to purchase one common share of Columbus at a price of $0.40, for a period of 12 months from the closing date of the private placement. Finders fees will be paid in connection with a portion of the private placement in accordance with the policies of the Toronto Stock Exchange (the “TSX”). Columbus intends to use the proceeds of the private placement for general working capital purposes. The private placement is subject to approval by the TSX.
Nordgold will subscribe to 4,671,048 units in the private placement to increase its interest in Columbus to 9.99% on a non-diluted basis, and 11.22% when taking into account the effect of the exercise of the Nordgold warrants.
Columbus Gold’s proposed mine development at Montagne d’Or in French Guiana upholds responsible mining principals, with a view to mitigating environmental impact while allowing for economic development. The Montagne d’Or gold mine will be the 2ndlargest employer in a region of France where unemployment is disproportionately high.
“The proposed Montagne d’Or gold mine, in combination with the potential future development of a number of other gold mines in the region (click link for map with location of other companies active in French Guiana: www.columbusgold.com/i/nr/2019-01-11-map.pdf), has the potential to elevate the economy of French Guiana with the creation of thousands of jobs,” said Robert Giustra, Chairman of Columbus.” In addition, the presence of responsible mining operators serves as a deterrent to illegal miners, whose activities cause deforestation, mercury contamination and siltation of waterways. Responsible mining protects French Guiana’s greatest natural resources – its forests and its water.”
The process towards permitting of Montagne d’Or continues to move forward. On December 5th, 2018, the French National Commission of Public Debate (the “CNDP”) officially acknowledged the decision of the Montagne d’Or joint-venture to move forward with permitting and development of the Montagne d’Or gold mine, subject to certain modifications based on the recommendations of the CNDP (see news release dated November 27, 2018).
A report by the inter-ministerial mission (see news release dated November 27, 2018), is expected to be filed in the coming weeks. The mission is a joint ministerial task-force under the direction of the French Ministers of Environment, of Economy and Finance, and of Overseas Territories. Its purpose is to assess the social and economic benefits, and the impacts, of the development of the gold mining industry in French Guiana, taking into consideration in particular Montagne d’Or, the most advanced large gold project in French Guiana. Based on the conclusions and recommendations of the task-force’s report, the French Government, in close cooperation with the local authorities of French Guiana, will consider the conditions under which the gold mining industry in French Guiana will operate.
There is opposition to the Montagne d’Or mine development, principally by NGOs, and some politicians. However, Montagne d’Or continues to garner widespread support from numerous local groups, three out of the four local workers’ trade unions that have signed agreements with the Montagne d’Or joint-venture company, and a majority of the elected representatives of French Guiana, notably Mr. Rodolphe Alexandre, the President of French Guiana whom has stated on several occasion: “I’ve always said that I support the gold mining sector… replacing illegal mining by legal mining“. In a very recent television news interview (January 7, 2019) Mr. Alexandre reiterated his strong views in support of the project. Click here to view the interview:
www.columbusgold.com/i/nr/2019-01-11-video.mp4
Other elected representatives of French Guiana that express ongoing support for Montagne d’Or include Sophie Charles, the Mayor of Saint-Laurent du Maroni (Montagne d’Or is located within the municipal jurisdiction of Saint-Laurent du Maroni), Paul Dolianki, Mayor of the Municipality of Apatou (the closest community to Montagne d’Or) and Vice-President of the Organization of Municipalities of West French Guiana, Lénaïck Adam, one of two Delegates of the National Assembly representing French Guiana in the lower house of Parliament of France, Georges Patient, one of two Senators representing French Guiana in the upper house of the Parliament of France. Another Delegate representing French Guiana, Gabriel Serville, has expressed his opposition to the use of cyanide, requesting the government to ban cyanide technologies in the mining industry in France. His proposed bill is at an early stage and can take months or even years to be voted on, if ever. Similar bills to ban cyanide mineral processing technologies have been proposed in 2010 and again in 2017 by some members of the European parliament. In both instances the proposed bills were flatly rejected by the European Commission (see news release dated November 20, 2018).
Other notable individuals that have expressed support for Montagne d’Or in the past (see news release dated August 7, 2018) include:
- Paulin Bruné – Former Delegate of the National Assembly, representing French Guiana in the lower house of the Parliament of France and current President of the local Federation of the Republican Party.
- Jean Gontrand – Elected representative of the Organization of Municipalities of West French Guiana, Member of the Port Commission of West French Guiana, and Councillor of the City of Saint-Laurent du Maroni.
- Denis Galimot – a Vice President of French Guiana.
- Gauthier Horth – Elected Councillor of French Guiana.
- Léon Bertrand – Former Mayor of Saint-Laurent du Maroni.
- Barbara Bartebin – Deputy Mayor of Saint-Laurent du Maroni.
- Bernard Sellier – Deputy Mayor of Saint-Laurent du Maroni.
- Michel Chaya – Vice-President of the Chamber of Commerce and Industry of French Guiana.
- Monique Guard – President of “Citoyens Citoyennes” – A collective movement advocating for social causes in French Guiana.
- Valentine Bonifacie – President of “Les Premières de Guyane”, incubator for innovative entrepreneurs.
- Thara Govindin – President of the Movement of French Entrepreneurs (MEDEF), French Guiana Chapter.
Columbus is pursuing additional opportunities in French Guiana that could establish Columbus as the dominant player in a world class emerging gold mining district.
*The private placement securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
ABOUT COLUMBUS GOLD
Columbus is French Guiana’s leading gold exploration and development company. Columbus holds a major interest in the world-class Montagne d’Or gold deposit. A feasibility study for Montagne d’Or was filed in May 2017, and the permitting process is currently underway. Columbus is also earning into the Maripa gold exploration project where past drilling has returned excellent near surface results, including 36 meters of 4.3 g/t gold.
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
info@columbusgold.com
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: its plans, or modifications thereunder, to develop Montagne d’Or, including its employment, future gold mining development and economy effect; the construction and development plans for the Montagne d’Or gold mine, including anticipated timing thereof; the satisfaction of additional requirements to the construction of the Montagne d’Or gold mine, including but not limited to, the submission and processing of mine permit applications; the delivery of a concluding report from the French joint ministerial task-force for Montagne d’Or; the timing and rendering of a decision regarding the development of the gold mining industry in French Guiana; the earning into of the Maripa gold exploration project; and the private placement of units, including the terms, approval and timing thereof. 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 include the proposed bill to ban cyanide technologies in the mining industry in France and additional risks and other factors described in the sections entitled “Risk Factors” in the Annual Information Form of Columbus Gold Corp., available on SEDAR under Columbus’ profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Columbus 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.
TORONTO , Jan. 10, 2019 /CNW/ – Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) (“Excellon” or the “Company”) is pleased to announce results from underground exploration at the Platosa Mine in Durango, Mexico .
Highlights
- Further definition and expansion of the high-grade 623 Manto, with diamond drilling results including:
“Our underground drilling over the past two years has improved the definition and quality of tonnes within the resource,” stated Ben Pullinger , Senior Vice President Geology. “Today’s results further that success and represent potential additions to Platosa resources.”
Exploration Results
The following table shows highlighted intervals from the current definition and infill program being conducted from underground at Platosa:
|
Hole ID |
Interval(1) |
Interval(2) |
Au |
Ag |
Pb |
Zn |
AgEq (3) |
Area |
|
|
From |
To |
metres |
g/t |
g/t |
% |
% |
g/t |
||
|
EX18UG437 |
51.1 |
57.8 |
6.6 |
0.1 |
704 |
5.8 |
10.1 |
1,450 |
623 |
|
including |
52.8 |
55.4 |
2.7 |
0.1 |
1,669 |
13.2 |
24.4 |
3,434 |
|
|
EX18UG438 |
54.5 |
59.4 |
4.9 |
– |
2,802 |
12.1 |
5.4 |
3,574 |
623 |
|
including |
54.9 |
57.8 |
2.8 |
– |
4,789 |
20.4 |
9.0 |
6,087 |
|
|
EX18UG443 |
99.5 |
103.2 |
3.7 |
– |
775 |
7.3 |
6.4 |
1,395 |
NE-1S |
|
EX18UG445 |
83.1 |
87.3 |
4.2 |
– |
150 |
0.1 |
2.0 |
254 |
Pierna |
|
including |
84.5 |
84.8 |
0.3 |
– |
1,410 |
0.4 |
0.6 |
1,459 |
|
|
(1) |
From-to intervals are measured from the drill collar, with drill holes marked UG or PH drilled from underground stations. |
|
(2) |
All intervals are reported as core length. |
|
(3) |
AgEq in drill results assumes $17.00 Ag, $1.03 Pb and $1.23 Zn with 100% metallurgical recovery. |
Results from this release incorporate drilling from the Martillo and 822-2 underground drill stations which were developed to expand and define mineralization at the Rodilla, NE-1S and 623 Mantos. Drill results in this release were not included in the Company’s updated Mineral Resource Estimate as of March 31, 2018 and represents potential for additions to existing resources.
Platosa drill core samples are prepared and assayed by SGS Minerals Services in Durango, Mexico . The lab is accredited to ISO/IEC 17025. The Company has a comprehensive QA/QC program, supervised by an independent Qualified Person.
Isometric View of Results Looking Southwest
View photos
Isometric View of Results Looking Southwest (CNW Group/Excellon Resources Inc.)
Surface Exploration Update
Surface drilling continues with a drill rig testing targets that host the Platosa deposit within the north-south trending Platosa corridor, with assays pending. The Company continues to test priority targets within this corridor while defining new targets at Jaboncillo , PDN, Saltillera North and South and San Gilberto through ongoing fieldwork. A 3D induced polarization program was completed at Jaboncillo and PDN in late 2018 in preparation for drilling programs on both targets in the coming months.
Qualified Person
Mr. Ben Pullinger , P. Geo, Senior Vice-President Geology, 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 exploration 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 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.
View photos
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2019/10/c6033.html
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.
TORONTO, Jan. 8, 2019 /CNW/ –
View photos
Excellon Resources Inc. (CNW Group/Excellon Resources Inc.)
Excellon Resources Inc. (TSX:EXN and OTC:EXLLF) (“Excellon” or the “Company”) is pleased to announce the appointment of Marcello Locatelli as Vice President Special Projects. Mr. Locatelli will be responsible for further optimization at the Company’s operations and project evaluation.
“An essential part of our strategy is building a team that can discover, develop and operate mining assets so that we can fully realize on the next bull market in metals,” stated Brendan Cahill , President and CEO. “Just as great mining assets have been increasingly rare in recent years, the demographic gap in mining portends the same for the industry’s most important asset – people. Marcello’s global experience optimizing and evaluating projects will play an important role in improving our existing operations and growing our business for the long term.”
Mr. Locatelli is a professional engineer with over 15 years of experience successfully managing and engineering various commodity studies and projects of all sizes. Most recently, Mr. Locatelli was a Director of Inteloc Inc., an engineering firm providing project management, evaluation and control services using leading technologies. Having worked on many projects across the globe, his experience extends from conceptual design through to commissioning, with a specific focus on project engineering, procurement, construction management, economic evaluations and social and environmental permitting. Mr. Locatelli has held lead engineer and project manager positions with Ausenco, Halyard Inc. and DRA Americas Inc., assisting in special projects related to bulk sampling, processing plant design and project development. He holds a Bachelor of Engineering (Mechanical) degree from the University of Johannesburg .
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 Platosa Mine and the rest of Excellon’s exploration properties are available at 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.
View photos
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2019/08/c5958.html
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. |
|
2 |
Ar/Ar radiometric age date determination commissioned by Mirasol Resources, performed at Australian National University Argon Facility in Canberra, Australia |
|
3 |
S&P Global Market Intelligence |
|
4 |
S&P Global Market Intelligence |
|
5 |
Gold Fields Mineral Resource and Mineral Reserve Supplement to the Integrated Annual Report,2017. |
|
6 |
Gold Fields. (2017). Integrated Annual Report 2017. |
|
7 |
S&P Global Market Intelligence |
|
Additional Explanatory Notes: |
|
|
* |
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
|
VANCOUVER, British Columbia, Jan. 02, 2019 (GLOBE NEWSWIRE) — Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) announces completion of the earn-in requirements on the core Black Lake portion of the Black Lake-Drayton gold project, adjoining the Goldlund and Goliath gold projects in the Rainy River district of Northwest Ontario, Canada.
Group Ten has completed the earn-in requirements for the 24 km2 Black Lake claim block within the Black Lake-Drayton project by completing all terms of the agreement first announced November 21, 2012, as amended, such that the Company now owns 100% right, title and interest to the claims subject only to certain production royalties, which include buy-down provisions. Together with the completion of earn-ins announced July 18, 2018, the Company now owns 100% right and title to over 96% of the 114 km2 Black Lake-Drayton project, with the remaining portion subject to one earn-in agreement.
A graphic accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3897dfee-36b4-47f1-acbf-accae9f86c74
President and CEO Michael Rowley said, “With this most recent milestone, Group Ten is now very close to owning 100% of the Black Lake-Drayton project for a very modest consideration. We continue to receive expressions of interest from potential partners on the project arising from its similarity with and proximity to the Goldlund and Goliath projects held by First Mining Gold and Treasury Metals, respectively, as well as to New Gold’s Rainy River project, which first attracted attention to the district in the 1990s. This asset adds to Group Ten’s commodity base and complements the Company’s core Stillwater West PGE-Ni-Cu project with a large and highly-prospective land position strategically located beside advanced-stage gold projects in a word-class high-grade mining district. We anticipate further announcements with respect to advances at Stillwater West as well as regarding anticipated 2019 field programs at our projects in Montana, Ontario and Yukon.”
About the Black Lake-Drayton Project
As shown in Figure 1, the Black Lake-Drayton project has been consolidated by the Company in five parcels as four option deals plus direct staking, providing Group Ten with 100% earn-in or ownership on more than 114 km2 and over 30 km of under-explored strike length in in the Abrams‐Minnitaki Lake archean greenstone belt, along the northern margin of the Wabigoon sub-province. This highly active gold belt is host to a number of well-known deposits including Goliath (Treasury Metals), Goldlund (First Mining Finance) and Rainy River (New Gold), all of which have seen substantial recent expansions. Since the development of New Gold’s Rainy River deposit, 10 Moz of gold has been discovered in the belt (Figure 1).
The Black Lake-Drayton project includes an archive database with more than 20 historic occurrences, multiple high-grade bulk samples and over 127 drill holes, in addition to geological, geochemical and geophysical data. Although 43% of past drill holes intercepted gold or copper mineralization, they did not adequately test the mineralized zones which are now better understood in the area. Much of the project’s more than 30 km of strike length remains untested, despite the success of neighbouring deposits with similar geology.
On a regional scale, the project is located in the Abrams‐Minnitaki Lake greenstone belt which is south of and parallel to the Birch-Uchi belt, another archean greenstone belt that is home to a number of high-grade gold producers including Goldcorp’s Red Lake mine. Despite its proximity to the Red Lake area and the Birch-Uchi belt, the Abrams-Minnitaki greenstone belt remained under-explored into the 1990s due to persistent ground cover and limited road access. In the past two decades, new roads and improved exploration techniques have led to the delineation of multiple multi-million-ounce high-grade gold reserves and resources on numerous projects in the belt.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the highly prospective Black Lake-Drayton Gold project in the Rainy River district of northwest Ontario, and the Kluane PGE-Ni-Cu project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade platinum and palladium, silver and copper producers. Member companies include Group Ten Metals (PGE.V) in the Stillwater PGM-Ni-Cu district of Montana, Metallic Minerals (MMG.V) in the Yukon’s Keno Hill Silver District, and Granite Creek Copper (GCX-H.V) in the Yukon’s Carmacks copper district. Highly experienced management and technical teams at the Metallic Group have expertise across the spectrum of resource exploration and project development from initial discoveries to advanced development. In addition, the teams have strong project finance and capital markets experience and have demonstrated a commitment to community engagement and environmental best practices.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director
Email: info@grouptenmetals.com Phone: (604) 357 4790
Web: http://grouptenmetals.com Toll Free: (888) 432 0075
Quality Control and Quality Assurance
Ms. Debbie James, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and she has reviewed and approved the technical disclosure contained in this news release.
Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten 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 Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
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.
|
|
|
