Majescor closes private placement for $655,000
Majescor closes private placement for $655,000
Momentum Public Relations
Press Release: April 10, 2017
Majescor Resources Inc. has closed a $655,000 non-brokered private placement at 10 cents with one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share in the capital of the corporation at a price of 16 cents per common share for a period of 24 months expiring on April 7, 2019. The warrants are subject to a forced exercise provision that, should the corporation’s common shares trade at a price of 24 cents or more for 30 consecutive days, the warrantholder will then have 30 days following the 30th day of trading to exercise the warrants before they expire.
All securities issued in the private placement are subject to a four-month hold period and to all necessary regulatory approvals, including the approval of the exchange.
In connection with the private placement, the company is paying a cash finder’s fee of $15,200 and will issue 76,000 common shares and 76,000 non-transferable finder’s warrants. Each finder’s warrant entitles the holder to purchase one additional common share at a price of 16 cents per share for a period of 24 months expiring April 7, 2019.
The proceeds of the financing will be used for general corporate purposes.
About Majescor Resources Inc.
Majescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Albert Mining, Mining, News Home
Imex Systems signs $6M contract with City of Toronto
Imex Systems signs $6M contract with City of Toronto
Momentum Public Relations
Press Release: April 10, 2017
Imex Systems Inc. has provided the following new development to its business operations.
The company has recently signed a professional services contract with the City of Toronto. This is a three-year contract that is effective from April 1, 2017, until April, 2020. The city and its agencies will be using Imex for various IT projects that require specific consulting and software development services around various technology projects.
The company estimates that the value of the contract will be in the range of $6-million over a three-year period.
Imex has a long history working with governments in both the Canadian provincial and municipal sectors on a variety of technology initiatives.
About Imex Systems Inc.
Imex Systems is a Canadian software products, solutions and services provider to governments, municipalities and public authorities in Canada and internationally. Imex primarily focuses on the e-government and smart cities market that include payments. It helps public sector entities to provide any time, anywhere, any device and any channel convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex’s various product and service offerings include: iGov — a digital government platform for all levels of governments, which provides all the prebuilt components for building an effective digital government and supporting payment processing through multiple channels; iCity — a smart city solution; and miGov — a mobile government framework.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Imex Systems, News Home, Technology
International Wastewater Systems closes $725,100 last financing tranche
International Wastewater Systems closes $725,100 last financing tranche
Momentum Public Relations
Press Release: April 07, 2017
International Wastewater Systems Inc., further to its news release dated Feb. 27, 2017, has closed the final tranche of the company’s brokered private placement, led by Haywood Securities Inc. as agent.
Under the final tranche of the brokered placement, the company has issued 2,417,000 units at a price of 30 cents per unit for gross proceeds of $725,100. Each unit consists of one common share and one common share purchase warrant of the company. Each warrant entitles the holder to purchase one share until Feb. 27, 2019, at an exercise price of 40 cents per share.
The company has paid cash commissions in the amount of $31,282.50 from the sale of units under the final tranche of the brokered placement. The company has also issued to the agent and members of the selling group an aggregate of 104,275 non-transferable warrants. Each agent’s warrant entitles the holder to purchase one share at a price of 30 cents until Feb. 27, 2019.
As previously announced on Jan. 19, 2017, the company amended the terms of the company’s non-brokered private placement completed on Dec. 23, 2016, to offer each participant in the non-brokered placement one warrant for each share purchased in the non-brokered placement on the same terms as the brokered placement. Accordingly, the company has issued a total of 2,275,333 warrants to purchasers from the non-brokered placement.
In total, the company raised aggregate gross proceeds of $2,205,655 pursuant to the non-brokered placement and the brokered placement.
All securities distributed pursuant to the brokered placement and non-brokered placement are subject to a statutory hold period of four months and a day from the date of issuance.
About International Wastewater Systems Inc.
International Wastewater Systems is a world leader in thermal heat recovery. International Wastewater’s systems recycle thermal energy from waste water, generating the most energy-efficient and economical systems for heating, cooling and hot water for commercial, residential and industrial buildings.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Bio technology, Energy, Green Technology, International Wastewater Systems, News Home, Technology
Mobi724 increases bought deal offering to $9.5-million
Mobi724 increases bought deal offering to $9.5-million
Momentum Public Relations
Press Release: April 06, 2017
Mr. Marcel Vienneau reports
MOBI724 GLOBAL SOLUTIONS INC. ANNOUNCES INCREASE TO BOUGHT DEAL FINANCING
Mobi724 Global Solutions Inc. has increased the size of the bought deal private placement previously announced on April 4, 2017, with GMP Securities LP, from aggregate gross proceeds of approximately $5-million to approximately $9.5-million, for the offering of special warrants of the company at a price per special warrant of 35 cents. The company has granted the underwriter an option, exercisable in whole or in part, up to 48 hours prior to the closing of the offering, to arrange for the purchase and sale of up to 20 per cent of the special warrants issued in the offering.
Each special warrant will entitle the holder thereof to receive, without payment of additional consideration, one unit of the company consisting of one common share and one-half of one share purchase warrant. Each whole warrant, subject to customary adjustments, shall be exercisable into one common share at an exercise price of 46 cents per warrant share for a period of two years from the date of issue. If the volume-weighted average price of the common shares on the Canadian Securities Exchange is equal to or greater than 65 cents for a period of 10 consecutive trading days, then the company may any time thereafter accelerate the expiry date of the warrants to the date that is 30 days following the date on which the company issues notice to all the warrantholders of the new expiry date. The company will also issue a press release on the same date as it issues notice confirming the new expiry date of the warrants.
The company has agreed to use its reasonable commercial best efforts to obtain a receipt for a final short-form prospectus qualifying the distribution of the units upon exercise of the special warrants on or before the date that is 90 days following closing of the offering. If the prospectus qualification does not occur before the qualification condition, each holder shall be entitled to receive, without payment of additional consideration, 1.05 units per special warrant. Unless the qualification condition occurs, securities issued in connection with the offering will be subject to a four-month hold period from the date of issue.
The closing of the offering is subject to the completion of formal documentation, including, but not limited to, the execution of an underwriting agreement with the underwriter in connection with the offering and receipt of any required regulatory approvals, including approval of the CSE. All securities issued pursuant to the offering will be subject to a statutory hold period expiring four months and one day after closing of the offering. Closing of the offering is expected to occur on or about April 21, 2017, or such other date as the underwriter and the company may agree.
The company intends to apply to have its common shares listed on the TSX Venture Exchange. There can be no assurance that such a listing would occur.
Mobi724 intends to use the net proceeds of the offering for general corporate purposes.
About Mobi724 Global Solutions Inc.
Mobi724, a leader in the fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of payment and digital marketing solutions with a combined EMV payment, card-linked offers and digital marketing platform that works on any card and any mobile device. Mobi724’s solutions add value to all types of transactions benefiting banks, retailers and cardholders by leveraging available user and purchasing data to increase transaction volumes and spend. Mobi724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. Mobi724 provides its customers with full and comprehensive traceability and enriched consumer data through its offering.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Mobi724 Global Solutions, News Home
Tetra Bio Pharma to begin trading on OTCQB April 6
Tetra Bio Pharma to begin trading on OTCQB April 6
Momentum Public Relations
Press Release: April 06, 2017
2017-04-05 16:10 ET – News Release. Mr. Andre Rancourt reports
TETRA BIO-PHARMA UPGRADES TO OTCQB TO ENGAGE AND EXPAND U.S. INVESTOR AUDIENCE
Effective tomorrow, shares of Tetra Bio Pharma Inc. have been approved for and will commence trading on the OTCQB Venture Marketplace, operated by OTC Markets Group, under the ticker symbol GRPOF. Shares of the company previously traded on the OTCQI Pink Sheet Market. The company also reiterated its strategy to create greater opportunity for its shareholders and attract new U.S. retail and institutional investors by providing transparency via this uplisting.
“We are extremely pleased to announce our uplist to the OTCQB Venture Marketplace,” said Andre Rancourt, chief executive officer of Tetra Bio Pharma. “Tetra is committed to the high level of financial and corporate disclosure that is required for this listing category, which further demonstrates significant improvement in how we are categorized in the public markets. This move represents our expansion in growing our U.S. investor shareholder base as we believe that trading on the OTCQB will enhance trading liquidity and continue to increase market adoption of our business model, thereby enhancing shareholder value. We look forward to aggressively executing our business plan as we build a leading biopharmaceutical organization focused on developing medicinal cannabis as pharmaceutical drugs.”
The OTCQB is considered by the Securities and Exchange Commission as an established public market for the purpose of determining the public market price when registering securities for resale with the SEC. The OTCQB dramatically increases transparency, reporting standards, management certification and compliance requirements; the majority of broker dealers trade stocks on the OTCQB. Historically, this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
McMillan LLP serves as Tetra Bio Pharma’s OTCQB adviser responsible for providing professional guidance on OTCQB requirements and U.S. securities laws.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Life Sciences, Medical Marijuana, News Home, Tetra Bio Pharma
Fake News And Hate Speech Erode Credibility & Confidence in Social Media Platforms Business Depends On
Fake News And Hate Speech Erode Credibility & Confidence in Social Media Platforms Business Depends On
Germany Takes Action
Unless the powers that be start acting the credibility of the internet will suffer to such an extent that businesses using social media for targeted branding, advertising and communications programs stand to see their plans slowly melt away as the platforms they use become increasingly tainted. Recently there have been some very good examples of what’s going wrong with the internet and digital communications. Among the symptoms are hate filled abusive trolling and fake news.
In late March major advertisers, companies like Verzion, Volkswagen, Johnson & Johnson and AT&T started pulling their ads from YouTube because they appeared alongside racist content. A week later Pepsico, Walmart and Starbucks joined the boycott parade. Google says that the problem is caused because the programs it uses to place ads with videos aren’t sophisticated enough to understand which content is too despicable to place ads next to but that it is working on the problem. The company has pledged to hire more people to develop programs to eliminate the problem.
In a statement Walmart said, “The content with which we are being associated is appalling and completely against our company values.”
When it come to Twitter, it almost seems as if you hear more about vicious hate campaigns, like the one launched against Ghostbusters’ actress Leslie Jones, than about the success of its attempts to lock out hate, abuse or racism from the once vaunted Twitterverse. Potholes and cracks are developing in the information highway that threaten to derail the commercial internet.
In a larger context the use of the internet to disseminate false news that has the potential to destabilize the west is more to be feared than any commercial loss. European countries with elections this year have almost all warned their publics about the danger of fake news and they have all pointed their fingers at Russia. On March 23, 2017 the Latvian foreign minister, Edgars Rinkevics warned the Canadian government that when Canadian troops deployed to Latvia the country should be prepared for a flood of Russian propaganda in the form of fake news stories on the internet designed to create friction between Canadians and the Latvian population. Shortly after they arrived in Lithuania, 400 German soldiers faced a slew of sexual misconduct stories launched over the internet in an attempt to swing Lithuania over to Russia’s side of the fence. NATO is stationing troops in all the Baltic States in response to Russia’s annexation of the Crimea and its continued meddling in Ukraine.
Closer to home, on New Year’s Eve, Breitbart News, ran a story with the headline “Revealed: 1,000-man mob attack police, set Germany’s oldest church alight on New Year’s Eve”. Breitbart’s objective in faking the story can only have been to help destablilize Germany by creating fear. Perversely enough, Breitbart probably thinks this will help stoke the fires of anti-immigrant fear in the United States. A destabilized west also helps Russia expand its influence. The story claimed that thousands of Arab immigrants launched fireworks at police, chanted God is Great and waved jihadist flags. The problem is that nothing remotely like what Breitbart described took place and just as the Swedes were recently surprised to find out they had been the victims of a terrorist attack that never took place, so were the Germans.
Just as many believe that Trump was elected on a web of fake news stories, ones like Pizzagate, where Hilary Clinton was linked to a child sex ring operating out of tunnels under a Washington area pizza restaurant, so many believe that the Brexit vote in Britain was built on the back of decades of tabloid press stories looking for a wild headline to sell stories.
In the United States a majority get their news from social media. Facebook is perhaps the largest online news source and yet it does very little to verify the accuracy of the stories that are promoted or read on it. Because they are seen as simple transmission pipelines social media companies have no legal responsibility for the content they carry.
Germany is about to change that and if it succeeds may very well bring credibility back to the online world. In mid-March the German government tabled a draft bill that would provide for fines as large as 50 million Euros for social media companies that fail to remove hate speech, fake news and other undesirable content within specified time limits.
Given the small amount of revenue that YouTube advertising generates for parent Google, the company is really suffering only from a public relations black eye. But in business, perception is everything. Social media companies claim that policing content is too expensive but with great profit come great social responsibility. The number of fake news stories appearing on Facebook spiked once its human editorial team was terminated and surveillance duties were given over to a computer program. Just as the prospect of hanging provides great concentration so does the prospect of large fines promote corporate change.
While the proposed German legislation may clean up the internet in Europe what affect it will have on North America is an open question. If we are very lucky, social media companies will realize that they have to act responsibly when it comes to fake news and hate and put in place here what they will shortly have to do if they wish to continue operating in Germany. If they do begin to act responsibly then credibility will be restored to the social media platforms that business has grown to depend on when it comes to getting their message to the right audience. If, on the other hand, the internet and social media platforms continue to become the hiding places of all we as a society despise then business will vote with its feet and find a new way to get their message across, perhaps through some form of closed network.
By Noel Meyer
- Published in Blog, News Home, Technology
Imex Systems Inc. (IMEX:tsxv): Business Update
Imex Systems Inc.: Business Update
Momentum Public Relations
Press Release: April 5th, 2017
Imex Systems Inc. (“Imex” or the “Company”) (TSX VENTURE:IMEX), a software solution provider to Governments, Municipalities and Public Authorities, is pleased to announce the following update to its business operations. The company’s flagship product is iGov, the most sophisticated Digital Government Platform in the market today.
The company expects to receive a minimum of $3 million Canadian in Q2, as the initial payment from the $19.51 million contract previously announced in December 2016. Remaining payments will be received over the course of the two year contract. Imex is finalizing all the terms with the Government of Botswana. The company anticipates additional contracts from Botswana as well after this rollout.
For the last 2 years, Imex has been working on developing international markets due to significant opportunities existing outside of North America.
The recent major contract announced by the company for implementation of eGovernment based on Imex iGov Digital Government Platform for the Government of Botswana, is an example of the Company’s success in international expansion efforts, which has created a pipeline of significant opportunities for the next few years.
Imex’s products have been well received by emerging countries in Asia, the Middle East, Africa and South America, which have ambitious programs for government modernization and implementation of eGovernment and Smart City initiatives. Imex’s Digital Government platform iGov and the Smart City Platform, iCity, have proven to be excellent candidates for these countries. Imex is in discussion with several state governments in India, which have the potential to be a significant market for Imex in the near term.
In developed markets such as Canada, the US, UK, and Australia, there has been a market shift towards cloud services to replace legacy eGovernment systems, which have been in place for the past 15-20 years. As a result, it is expected that such jurisdictions will undertake a digital transformation and implement a Digital First strategy, which is the basis of Imex’s iGov platform software solution.
Imex is rolling out cloud services for North America and has successfully piloted cloud offerings for several municipalities in Canada this year. Imex has developed an aggressive strategy to implement these solutions for at least 200 cities/towns in Canada and the US during the next 5 years, which includes enhancing the existing foothold in Ontario.
About Imex Systems
Imex Systems Inc. is a Canadian software products and solution provider to Governments, Municipalities and Public Authorities in Canada and internationally. Imex primarily focuses on the E-Government and Smart Cities market that include payments. It helps public sector entities to provide “Any Time, Any Where, Any Device and Any Channel” convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex’s various product and service offerings include: iGov – a Digital Government Platform for all levels of governments, which provides all the pre-built components for building an effective Digital Government and supporting payment processing through multiple channels; iCity – a Smart City Solution; and miGov – a Mobile Government Framework.
- Published in Imex Systems, News Home, Technology
Sirona Biochem (SBM:tsxv) Announces Keloid Data Accepted for Presentation to the Society of Investigative Dermatology
Sirona Biochem Announces Keloid Data Accepted for Presentation to the Society of Investigative Dermatology (SID)
Sirona Biochem Corp. (TSX VENTURE: SBM) (FRANKFURT: ZSB) (XETRA: ZSB) (the “Company“) announced today that it has been accepted to present recent data at the 76th Annual Society of Investigative Dermatology (SID) Meeting, April 26-29 in Portland, Oregon. Sirona’s abstract, titled, Novel glycopeptide potential in keloid formation prevention and recurrence, will be presented as a poster during the 4-day conference.
The presentation outlines initial study results on the compound KEL-01. KEL-01 has been tested on normal human dermal fibroblasts (NF) and keloid fibroblasts (KF) for gene expression and protein expression.
In NF gene expression, KEL-01 downregulated genes involved in extracellular matrix (ECM) synthesis, collagen I, III and elastin, while it upregulated genes involved in ECM degradation, namely MMP1 and MMP3. In protein expression studies, the addition of KEL-01 significantly decreased the levels of collagen I and collagen III in KF. When KEL-01 was added to the KF, the ratio of collagen I/III was regulated to that of NF. An additional assay done showed activation of the Nrf2 pathway via KEL-01, which is down-regulated in keloids.
“We are pleased with the early results of KEL-01 on keloid fibroblasts,” said Dr. Howard Verrico, CEO. “Keloid scars are difficult to treat and there remains a significant unmet need for those prone to their development. We are planning studies on this compound in more advanced scar models.”
About the 76th Annual SID Meeting
The Society for Investigative Dermatology was founded in 1937 to highlight and promote discovery in investigative dermatology and to better represent skin-related scientific investigation amongst medical societies. Soon after, they launched the Journal of Investigative Dermatology (JID), a source for all advancements in cutaneous biology. The first Annual Meeting was held in New York City in 1938.
The 76th Annual Meeting, like those before it, will bring together researchers, lecturers, and industry leaders in dermatology. Throughout the four-day conference, cutting-edge research, findings and trends in skin health and disease will be shared. All abstracts will be published in upcoming editions of the JID.
Alongside lectures from leading experts in the field and poster presentations, there will be opportunities to talk to representatives from global companies about partnerships and collaborations.
For more information, please visit the conference website at http://www.sidnet.org/.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.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.
- Published in Bio technology, Life Sciences, News Home, Sirona Biochem
King’s Bay (KBG:tsxv) Completes VTEM Plus Survey over Lynx Lake Copper-Cobalt Project
King’s Bay Completes VTEM Plus Survey over Lynx Lake Copper-Cobalt Project, Southern Labrador
Momentum Public Relations
Press Release: April 5th, 2017
King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver Canada is pleased to announce that Geotech Ltd., of Aurora, Ontario has completed 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the 382 line kilometer helicopter-borne Versatile Time Domain Electromagnetic Geophysical Survey over King’s Bay’s 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx Lake Copper-Cobalt Project in southeastern Labrador.
Geotech Ltd. has advised King’s Bay that it expects to have the results outlining potential drilling targets from the survey by early May. The helicopter-borne Versatile Time Domain Electromagnetic System (VTEM) has a penetration depth of over 800 m, with a low Base Frequency (30Hz) for penetration through conductive overburden cover, coupled with a 2-3 meters High Spatial Resolution. This system is advertised to be able to delineate potential drill hole targets from the airborne results. In addition, it also has excellent resistivity discrimination to enable the detection of weak anomalies.
Kevin Bottomley states: “King’s Bay is pleased to announce the completion of our VTEM survey. We look forward to viewing the geophysical data that we have gathered, and are excited to advance our project at Lynx Lake, and share that data with our shareholders.”
Lynx Lake Project
The Lynx Lake Copper-Cobalt Property consists of 959 mineral claims encompassing a land area of approximately 240 square kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. Historic grab sampling on the property has returned samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The Company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as “King’s Bay.”
- Published in King's Bay, Mining, News Home
Anfield’s Red Rim at 1.14 million lb U3O8 indicated
Anfield’s Red Rim at 1.14 million lb U3O8 indicated
Momentum Public Relations
Press Release: April 4, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES ANNOUNCES RESOURCE REPORT FOR FIRST OF 24 URANIUM PROJECTS IN WYOMING
Anfield Resources Inc. has received a National Instrument 43-101 mineral resource technical report for the Red Rim uranium project, entitled “Red Rim Uranium Project, Mineral Resource Technical Report, National Instrument 43-101, Carbon County, Wyoming, USA,” and dated March 31, 2017. Further to Anfield’s news release of March 21, 2017, the Red Rim report is the first in a series of National Instrument 43-101 technical reports related to Anfield’s 24 Wyoming uranium projects. The report was completed by BRS Inc., a consulting and engineering firm with nearly 40 years of experience assessing Wyoming uranium projects.
The resource estimate includes:
- An indicated resource of 336,655 tons of mineralized material with an average grade of 0.170 per cent (equivalent to an indicated resource of 1,142,449 pounds of triuranium octoxide);
- An inferred resource of 472,988 tons of mineralized material with an average grade of 0.163 per cent (equivalent to an inferred resource of 1,539,447 pounds of U3O8).
Corey Dias, Anfield’s chief executive officer, stated: “This report is a significant first step in identifying and delineating the uranium resource on the company’s properties in Wyoming, an important part of our multistate U.S. portfolio. Over the coming months we aim to delineate further uranium resources on our acquired Wyoming properties and plan to identify the most prospective. Crucially, Anfield has a resin-processing agreement in place with Uranium One in Wyoming whereby it can process up to 500,000 pounds of uranium per year at Uranium One’s Irigaray central processing plant, and the pairing of a future viable uranium resource with that agreement would place Anfield in a strong position to take advantage of the expected uranium price rebound.
“This expected rebound converges with Anfield’s strategy of acquiring quality uranium assets and proceeding with disciplined, staged development. We are confident that developing these Wyoming properties, in line with company strategy, will be a significant step towards becoming a top-tier U.S. uranium producer.”
A summary of the indicated mineral resource included in the Red Rim report is presented in the table. A summary of the inferred mineral resource included in the Red Rim report is presented in table.
INDICATED MINERAL RESOURCES GT minimum Pounds eU3O8 Tons Average grade {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} eU3O8 0.25 1,142,449 336,655 0.170 INFERRED MINERAL RESOURCES GT minimum Pounds eU3O8 Tons Average grade {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} eU3O8 0.25 1,539,447 472,988 0.163
Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with Canadian Institute of Mining, Metallurgy and Petroleum standards. Inferred mineral resources are too speculative geologically to have the economic considerations applied to them which would enable them to be categorized as mineral reserves.
The Red Rim project comprises approximately 1,000 acres of the mineral holdings of Anfield and includes 49 unpatented mining lode claims located approximately 20 air miles southwest of Rawlins, Wyo. The data used in the report utilize drill intercept data from two core holes and 136 rotary drill holes, including drill intercepts and geophysical logs.
The Red Rim project is located in an area that is the winter range for Pronghorn antelope. This may result in seasonal stipulations for field activities, including drilling. To the best of the company’s knowledge there are no other legal or environmental matters that could materially affect the potential development of these resources.
Radiometric equilibrium was assumed.
A unit weight of 125 pounds per cubic foot or 16 cubic feet per ton was assumed, based on the author’s experience working in operating mines in the Gas Hills within similar tertiary sandstone uranium deposits where reserve estimates were routinely compared with actual production.
For indicated mineral resources, the mineralized trend was bracketed by drilling and mineral resources were estimated using the GT contour method.
For inferred mineral resources, where the mineralized trend was not fully defined by drilling, at the interpreted location of the oxidation/reduction interface a thickness of six feet at an average grade of 0.15 per cent equivalent triuranium octoxide was assumed. Further it was assumed that mineralization in excess of a 0.5 GT extended approximately 50 feet either side of the interpreted oxidation/reduction interface and that mineralization grading down to a GT of 0.1 extended an additional 50 feet beyond that. These assumptions were based on the areas of close-spaced drilling where indicated mineral resources were estimated. GT contouring was completed within these limits and honoured available drill data.
National Instrument 43-101 disclosure
The NI 43-101 resource technical report completed for Red Rim has been authored by Douglas L. Beahm, PE, PG, principal engineer, of BRS Inc. The author has reviewed and approved the technical content of this news release.
A technical report on the resource technical report will be published on SEDAR and the company’s website within the 45 days permitted under NI 43-101.
About Anfield Resources Inc.
Anfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home