Puma received $100,000 payment for Little Stull Lake transaction
Puma received $100,000 payment for Little Stull Lake transaction
Momentum Public Relations
Press Release: August 14, 2017
RIMOUSKI, QUEBEC–(Marketwired – Aug. 14, 2017) – Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) (the “Company” or “PUMA”) has received from BWR Exploration Inc. (TSX VENTURE:BWR) (“BWR”) a $100,000 cash payment related to the transaction for the Little Stull Lake Gold Project located in Manitoba.
The two Puma MEL’s (Mining Exploration Licenses) have now been officially transferred to BWR pursuant to the Purchase Agreement of October 5, 2016. Upon notification of the transfer of the MEL’s to BWR by the Manitoba Ministry of Growth, Enterprise and Trade (“Manitoba MGET”), the Agreement specified that BWR was to make a $50,000 payment to Puma for each MEL acquired within 30 days. PUMA is pleased to announce that it has now received these two payments totalling $100,000 as contemplated in the Agreement.
As part of the transaction, Puma received 5,000,000 BWR’s shares representing 8.97{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} holding of BWR Exploration Inc. and will receive an additional 5,000,000 BWR’s shares following the completion of the different milestones stipulated in the Purchase Agreement.
“The issuance and the transfer of the two Mineral Exploration Licenses that cover 388 square kilometers of favourable exploration land to BWR is a key milestone for the exploration and development of the Little Stull Lake Gold Project. Puma now being a major shareholder of BWR, I am very excited to see the exploration activities back in the region and wish the best of luck to the BWR team” notes Marcel Robillard, President of Puma Exploration and Director of BWR Exploration.
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metal projects in Canada. The Company’s major assets include the option to acquire 100 per-cent beneficial interest in the Murray Brook Property, the Turgeon Zinc-Copper Project, the Nicholas-Denys Project, all located in New Brunswick and an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. In 2017, Puma will concentrate its efforts on the Company’s three (3) main base metal projects in New Brunswick (Murray Brook, Turgeon and Nicholas-Denys) with emphasis given to the Murray Brook Property.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma Exploration Inc. to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, except as required by law. Puma Exploration undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.
Puma Exploration Inc.
Marcel Robillard
President
(418) 724-0901
president@explorationpuma.com
www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Blue Moon Zinc to Re-open California Past Producing Mine as Zinc Bull Market Commences
Blue Moon Zinc to Re-open California Past Producing Mine as Zinc Bull Market Commences
Blue Moon Zinc to Re-open California Past Producing Mine as Zinc Bull Market Commences
Momentum Public Relations
Press Release: August 15, 2017
August 15, 2017 – MONTREAL, QUEBEC, Momentum PR client, Blue Moon Zinc Corp., is listed on the TSX Venture exchange under the symbol: MOON and in the US on the OTC under the symbol: BMOOF.
Momentum PR is pleased to have produced an informative and comprehensive report on Blue Moon Zinc Corp., available on the Momentum PR LinkedIn page.
Blue Moon Zinc Corp. Highlights:
- The Blue Moon mine was in production between 1943 and 1945. Hecla Mining produced 55,656 tons grading 12.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc, 0.36{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0,48{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} lead, 3.75 oz/ton silver and 0.062oz/ton gold.
- Blue Moon already has 5.3 million tons of indicated and inferred resources and the Company believes it can advance that materially with extension and exploration drilling.
- Blue Moon can boast a 95{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} recovery rate
- Blue Moon property now has approximately 2.62 million tons with a grade of 6.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc indicated, and 2.68 million tons with a grade of 5.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc inferred, plus significant amounts of copper, lead, silver and gold.
- In 2017, Zinc prices rose to $2,825 a tonne up 10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} on the year. According to Zinc Investment News, Zinc prices rose 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} between January 2016 and March 2017.
- Blue Moon is applying for drill permits and is commencing baseline and engineering studies.
The Blue Moon Zinc project is located in Mariposa County in central California and if the project needed a nickname, it very well might be the Comeback Kid. Unlike most junior mining companies, Blue Moon intends to take its asset into production and it has compelling reasons to do so.
Comeback Kid because Blue Moon has been in production before. During 1943-1945 Hecla Mining produced 55,656 tons grading 12.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc, 0.36{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0,48{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} lead, 3.75 oz/ton silver and 0.062oz/ton gold. Since then the property has been bought and sold by a number of different mining companies. Each of which has performed additional exploration work.
Blue Moon already has 5.3 million tons of indicated and inferred resources and the company believes it can advance that materially with extension and exploration drilling. This is comparable to Lundin’s now depleted Galmoy Zinc Mine and Trevali’s Santander Zinc mine, except that while Blue Moon can boast a 95{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} recovery rate, Galmoy peaked at 83{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and Santander at 89{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. Galmoy closed in 2009 due to resource depletion.
Amidst a global supply crunch, according to an article published in MINING.com by Eric Fels on July 17, 2017, zinc prices rose to $2,825 a tonne up 10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} on the year. According to Zinc Investment News, Zinc prices rose 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} between January 2016 and March 2017. Zinc’s 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} price hike in 2016 made it the London Metal Exchange’s best-performing commodity of the year. Its prices have been supported by mines closed because of resource exhaustion and production reductions in Canada, Peru and Australia by Glencore, one of the top three global zinc producers.
According to a NI 43-101 resource estimate, the Blue Moon property now has approximately 2.62 million tons with a grade of 6.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc indicated, and 2.68 million tons with a grade of 5.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc inferred, plus significant amounts of copper, lead, silver and gold. The Company believes those resources can be increased through drilling and a new resource report will benefit from inflation in commodity prices since the initial 2008 publication date.
Blue Moon trades on the TSXV as MOON and on the American OTC as BMOOF. As of July 21, 2017 it closed at $0.045 and has a 52-week high of $0.10 and a low of $0.015. The company has 92.75M shares outstanding and a market cap of $3.76 million.
The Momentum PR informative and comprehensive report on Blue Moon is available on the Momentum PR LinkedIn page.
If you would like more information on Blue Moon Zinc; listed on the TSX Venture exchange under the symbol MOON, and with a market cap of C$3.76 million, or would like to arrange an interview with management please contact:
Momentum PR
Juliette Benard, Director Media Relations
+1.450.332.6939
About Momentum PR
Momentum PR is a cutting-edge public and investor relations consulting agency representing companies within the Canadian investment community.
Since 2009, Momentum PR has been servicing small and mid cap Canadian listed public companies, seeking to increase their exposure across North America. The focus at Momentum PR is on building and driving brand awareness. Momentum PR cultivates new audiences in the media and investment communities by proactively engaging interested parties on behalf of client companies through online and offline channels.
Disclaimer:
All editorial content contained herein is solely the responsibility of Momentum PR and does not reflect, in any way, the opinions of TheNewswire.ca Inc., its partner newswires and / or associated news services.”
AtmanCo Announces Signature of a Letter of Intent for the Acquisition of PlusMobile
AtmanCo Announces Signature of a Letter of Intent for the Acquisition of PlusMobile
Momentum Public Relations
Press Release: August 14, 2017
MONTREAL, QUEBEC–(Marketwired – Aug. 14, 2017) – AtmanCo inc. (“AtmanCo” or the “Company”) (TSX VENTURE:ATW) announces today the signature of a letter of intent with the shareholders of PlusMo Group for the acquisition of all of the outstanding shares of PlusMobile LLC (“PlusMobile”) and all of its subsidiaries. PlusMobile is part of the PlusMo Group which is controlled by the Zipilivan family.
PlusMobile, founded in 2005, has its head office located in Buenos Aires (Argentina) with activities in Colombia, Uruguay, Mexico and Central America. PlusMobile offers premium products on mobile phones with carrier billing agreements in 6 countries of Latin America, including 9 direct connections and 16 indirect connections. PlusMobile’s quality contents offered include mobile apps in the business segments of education, kids, entertainment (games, sports, videos) as well as mobile marketing via SMS such as contests. PlusMobile’s products, licensed or in partnerships, include well-known brands such as Discovery from Discovery Channel. For their audited financial year ended December 31, 2016, PlusMobile’s sales were $US 4.7 million.
The agreement also includes the signature by AtmanCo of an exclusive distribution agreement in North America for the MovyPark Mobile Parking solution, an innovative and turnkey mobile application for parking space management already in in use in large cities in South America and owned by MovyPay, another business of PlusMo Group.
The letter of intent contemplates a purchase price of $US 2.5 million and is subject to certain adjustments. No commission is payable and no change of control will result.
“We are proud to come to an agreement with PlusMobile on this strategic acquisition that would allow us to expand the distribution network of our existing and future products by adding strategic carrier billing connections in Latin America in a fast growing carrier billing market. This geographic diversification will allow us to distribute their Spanish language products in new markets in America, notably in the United States. PlusMobile manages all over Latin America more than 1.2 million subscribers with a strong recurring business model which should to continue to build up our valuable database. Finally, this acquisition should allow us to improve the Company’s financial health and predictability and to consolidate further our leader position in the carrier billing,” said Michel Guay, President and CEO of AtmanCo.
The closing of this transaction between AtmanCo and PlusMobile, which are dealing at arm’s length, is conditional among other things on AtmanCo carrying out a satisfactory due diligence on PlusMobile, obtaining the signature of an exclusive distribution agreement for the MovyPark Mobile Parking, obtaining financing with size, terms & conditions to be determined and obtaining all necessary regulatory approvals. Closing of the transaction is expected on or about October 15, 2017.
Forward-Looking Statements Disclaimer
Certain statements in this press release may be forward-looking. Such statements include those with respect to the closing of the acquisition of PlusMobile, the closing date thereof, the potential effect of that acquisition on the Company, the Company’s ability to raise funds and the use of the proceeds raised thereunder. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) All of the conditions for the transaction will be met. In particular, AtmanCo will complete a satisfactory due diligence on PlusMobile’s operations, finances, legal condition, etc., (ii) AtmanCo and PlusMobile’s shareholders will successfully negotiate and enter into a purchase agreement and other documents relating to the transaction, (iii) AtmanCo will successfully obtain the necessary regulatory approvals for the acquisition of PlusMobile on commercially-acceptable terms, (iv) the acquisition of PlusMobile will allow AtmanCo to achieve the anticipated synergies, in particular with respect to PlusMobile’s clientele, products and geographic markets, (v) AtmanCo will be successful in its efforts to identify and secure investors for its financing and (vi) AtmanCo’s management will not identify and pursue other business objectives using the proceeds of the financing. Factors that could cause actual results to differ materially from expectations include (i) the discovery in the course of the due diligence of negative factors with respect to PlusMobile that would prevent AtmanCo from proceeding with the acquisition, (ii) the failure of the negotiations between the parties with respect to the final documentation, (iii) the Company’s inability to achieve the anticipated synergies for any reason, including the refusal of PlusMobile’s clients to refuse to acquire AtmanCo’s services or technical issues that prevent the integration of AtmanCo’s systems with those of PlusMobile, (iv) the Company’s inability to secure investors for its financing, (v) the Company’s inability to make effective use of the funds raised for its financing, (vi) the Company’s inability to obtain the necessary regulatory approvals for the acquisition or its financing, (vii) labour disputes or the materialization of similar risks, (viii) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis and (ix) generally, the Company’s inability to develop and implement a successful business plan for any reason. A description of other risks affecting AtmanCo’s business and activities appears under the heading “Risks Factors and Uncertainty” on pages 9 and 10 of AtmanCo’s 2016 annual management’s discussion and analysis, which is available on SEDAR at www.sedar.com.
No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that AtmanCo will derive therefrom. In particular, no assurance can be given as to the future financial performance of AtmanCo. AtmanCo disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event, except as required under applicable law. The reader is warned against undue reliance on these forward-looking statements.
Additional information regarding the Company is available on SEDAR www.sedar.com
The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.
ABOUT ATMANCO
AtmanCo (TSX VENTURE:ATW) is a leader in information technology, owner of several web platforms including VoxTel, Québec Rencontres, Atman and Bloomed. VoxTel offers various interactive landline and mobile phone solutions, as well as carrier billing and SMS features. Quebec Rencontres is a web and mobile social network application catered to building serious and sustainable relationships. Atman and its APIs enable companies to optimize their human capital. Bloomed is a cloud-based platform to manage data (smart data) on consumers and their behaviors, which is developed for marketing agencies and their campaigns for the consumer and corporate markets.
SOURCE:
AtmanCo Inc.
Michel Guay, Founder, president and CEO
514.935.5959 ext. 301
mguay@atmanco.com
www.atmanco.com
Simon Bedard, CA, CPA, CFA, MBA
CFO
514.935.5959 ext. 304
sbedard@atmanco.com
King’s Bay Gold Corporation Announces Name Change to King’s Bay Resources Corporation
King’s Bay Gold Corporation Announces Name Change to King’s Bay Resources Corporation
Momentum Public Relations
Press Release: August 11, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (the “Company”) (TSXV: KBG) (FSE: KBG1) is pleased to announce that, further to its news release dated August 1, 2017, the Company has changed its name to “King’s Bay Resources Corp.”.
The name change will go into effect on Monday, August 14, 2017, and the Company’s common shares will continue trading under the symbol “KBG” on the TSX Venture Exchange and “KBG1” on the Frankfurt Stock Exchange.
The CUSIP number assigned to the Company’s common shares under its new name will be 49579X105. No action will be required by existing shareholders with respect to the name change. Certificates representing common shares of the Company will not be affected by the name change and will not need to be exchanged.
The Company encourages any shareholder concerns in this regard to be directed to such person’s broker or agent.
ON BEHALF OF THE BOARD OF DIRECTORS
King’s Bay Gold Corporation
Kevin Bottomley
President and Chief Executive Officer
Tel: (604) 681-1568
Email: Kevin@kingsbayres.com
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/KingsBay08112017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
To follow King’s Bay Gold Corporation on your favorite social media platform or financial websites, please click on the icons below.
Maximum News Dissemination by FSCwire. https://www.fscwire.com
Copyright © 2017 Filing Services Canada Inc.
- Published in King's Bay, Mining, News Home
German Geologist Discovers A Rare Carbonatite
German Geologist Discovers A Rare Carbonatite
By Stephan Bogner, Rockstone Research
Today, Arctic Star Exploration Corp. made a striking announcement of having discovered a carbonatite complex at its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned CAP Property in British Columbia, Canada.
The company started a maiden drill program in mid-July and 1 of the 4 holes intersected carbonatite. Assays are pending and expected shortly, potentially confirming the presence of niobium within the carbonatite. Arctic’s consultant, Jody Dahrouge (P.Geo.) of Dahrouge Geological Consulting Ltd., commented in today’s news:
“We are extremely grateful to be part of the group which conceptualized and discovered this hitherto unknown carbonatite-syenite complex. Carbonatite is an extremely rare rock type with only around 550 complexes identified worldwide. In addition to their rarity, they are also well-known for being the source of production for a plethora of commodities, including being the dominate source for niobium and rare earth elements (REEs). The potential rewards associated with a new discovery such as at CAP cannot be overstated.”
Geologist Patrik Schmidt at work in the field (source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Patrik-Schmidt.png
Arctic Star Exploration Corp. staked the CAP Property in 2010 based on a magnetic anomaly from government surveys. The company thought it could be a carbonatite given its size, shape and location within a quite magnetic background of mostly sedimentary rocks. Subsequent work found thin syenite dykes, which they believed to be related to a carbonatite complex.
Back then, these dykes were sampled and contained highly anomalous geochemistry (indicative of a large and higher grade carbonatite deposit below surface), including 0.48-0.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nb2O5, 1.13-3.19{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zirconium, >0.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} lanthanum, >0.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cerium and >0.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} neodymium. On July 18, 2017, Arctic started a maiden drill program.
I just called management for a short interview and was informed that the interpretation of a carbonatite complex on the property now proved true when a German geologist, Patrik Schmidt who works for Dahrouge, started prospecting around the northern-most drill pad and found a carbonatite outcropping in a creek bed.
They then reorientated drill hole #4 to hit the carbonatite and the pictures of the core speak for themselves. A 77 m long intersection showed carbonatite with a diverse mineral assemblage. Assays are pending and may soon make the discovery of a niobium enriched carbonatite deposit official. Recent work on the property focused on a 3,000 x 1,000 m area, where previous geophysics and rock-soil samples outlined a distinct anomaly. Most recently, 4 holes were completed along with prospecting, mapping and sampling. Highlights include:
• Carbonatite and/or alkaline rock types intersected in 2 of 4 drill holes,
• an approximate 90 m mapped strike-length of carbonatite in outcrop with apparent estimated thickness of >50 m; and
• the discovery of numerous additional outcrops of carbonatite, and related rocks, across an area measuring approximately 800 x 200 m.
The most significant drill hole to date (CAP17-004 with an orientation of 163°/-55°) intersected:
• 53-75 m: calcite carbonatite, fenite, syenite, country rock
• 75-152 m: carbonatite (variable composition; see below pictures)
• 152-219 m: syenite and fenite; EOH (“End of Hole“).
The true thickness of these intersections is uncertain at this time. The company cautions, that although a diverse mineral assemblage is present throughout the core, it is too early to determine if any metals or minerals may be present in significant concentrations. Samples are currently being collected and are expected to arrive at the lab shortly.
Core pictures of recently completed drill hole CAP17-004 showing a carbonatite with diverse mineral assemblage. Soon, assays will make clear determination of the encountered mineralization (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-1.png
image: http://www.stockhouse.com/media/news-images/Independent-Reports/Core-2.png
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-3.png
Core picture of recently completed drill hole CAP17-004 potentially showing Lower Syenite (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/trending/Core-4.png
Outcropping carbonatite in a creek bed recently discovered by Patrik Schmidt during prospecting (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/trending/Core-5.png
Full version
Recent drilling confirmed a carbonatite complex on the CAP Property (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-6.png
For more information on the CAP Property, the Rocky Mountain Rare Metal Belt in British Columbia, globally significant niobium deposits, the booming niobium market with rapidly growing demand and recent niobium transactions, see Rockstone
Report #3.
About Carbonatite Deposits
Carbonatite is a type of intrusive or extrusive igneous rock defined by mineralogic composition consisting of greater than 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} carbonate minerals. Carbonatites are rare, peculiar igneous rocks formed by unusual processes and from unusual source rocks. (Source)
Mineralized carbonatite systems have been mined for and/or are potential sources for commodities such as REE’s, niobium, tantalum, copper, nickel, iron, titanium, zirconium, platinum group elements (PGEs), gold, fluorspar, lime, sodalite, and vermiculite. Strong demand growth, stemming in part from a number of green energy solutions, has placed upward price pressure on a number of those commodities associated with carbonatites. Some of the more notable active and past producing carbonatite deposits known worldwide include Palabora (Cu, Ni, Au, PGE’s, other), South Africa; Bayon Obo (REE’s, Fe, Nb, fluorspar), China; Araxa (Nb), Brazil; Cargill (Phosphate), Canada; Niobec (Nb), Canada; Mountain Pass (REE’s), United States; and Mount Weld (REE’s), Australia.
Schematic cross-section of a carbonatite complex (source):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Natro-red.png
Economic Importance of Carbonatite Deposits
Carbonatites may contain economic or anomalous concentrations of rare earth elements, phosphorus, niobium-tantalum, uranium, thorium, copper, iron, titanium, vanadium, barium, fluorine, zirconium, and other rare or incompatible elements. Apatite, barite and vermiculite are among the industrially important minerals associated with some carbonatites. Vein deposits of thorium, fluorite, or rare earth elements may be associated with carbonatites, and may be hosted internal to or within the metasomatized aureole of a carbonatite. As an example the Palabora complex of South Africa has produced significant copper (as chalcopyrite, bornite and chalcocite), apatite, vermiculte along with lesser magnetite, linnaeite (cobalt), baddeleyite (zirconium-hafnium), and by-product gold, silver, nickel and platinum. (Source)
Company Details
Arctic Star Exploration Corp.
1111 West Georgia Street
Vancouver, B.C. V6E 4M3, Canada
Phone: +1 604 689 1799
Email: info@arcticstar.ca
Shares Issued & Outstanding: 55,092,522
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Arctic-Star-Frankfurt.png
Canadian Symbol (TSX.V): ADD
Current Price: $0.195 CAD (08/04/2017)
Market Capitalization: $11 Million CAD
image: http://www.stockhouse.com/media/news-images/Independent-Reports/Arctic-Star-historic.png
German Symbol / WKN (Frankfurt): 82A1 / A2DFY5
Current Price: €0.117 EUR (08/08/2017)
Market Capitalization: €7 Million EUR
Read more at Stockhouse
- Published in Arctic Star Exploration, Blog, Mining, News Home
Arctic Star Discovers Carbonatite Complex at the Cap Property, BC
Arctic Star Discovers Carbonatite Complex at the Cap Property, BC
Momentum Public Relations
Press Release: August 8, 2017
Vancouver, British Columbia–(Newsfile Corp. – August 8, 2017) – Arctic Star Exploration Corp. (TSXV: ADD) (“Arctic Star” or the “Company”) is pleased to announce that it’s summer 2017 exploration program at it’s wholly owned CAP Property, located approximately 80 km northwest of Prince George, B.C., has resulted in the discovery of a new Carbonatite-Syenite Complex.
According to Jody Dahrouge, P.Geo. and President of Dahrouge Geological Consulting Ltd. (consultant to Arctic Star):
“We are extremely grateful to be part of the group which conceptualized and discovered this hitherto unknown carbonatite-syenite complex. Carbonatite is an extremely rare rock type with only around 550 complexes identified worldwide. In addition to their rarity, they are also well-known for being the source of production for a plethora of commodities, including being the dominate source for niobium and rare earth elements (REEs). The potential rewards associated with a new discovery such as at CAP cannot be overstated.”
Mineralized carbonatite systems have been mined for and/or are potential sources for commodities such as REE’s, niobium, tantalum, copper, nickel, iron, titanium, zirconium, platinum group elements (PGEs), gold, fluorspar, lime, sodalite, and vermiculite. Strong demand growth, stemming in part from a number of green energy solutions, has placed upward price pressure on a number of those commodities associated with carbonatites.
Some of the more notable active and past producing carbonatite deposits known worldwide include Palabora (Cu, Ni, Au, PGE’s, other), South Africa; Bayon Obo (REE’s, Fe, Nb, fluorspar), China; Araxa (Nb), Brazil; Cargill (Phosphate), Canada; Niobec (Nb), Canada; Mountain Pass (REE’s), United States; and Mount Weld (REE’s), Australia.
To date, exploration at CAP has focused on an approximate 3,000 by 1,000 metre area, which was highlighted by prior geophysical survey’s as well as a number of anomalous Nb-REE geochemical rock and soil samples. The 2017 work has included the completion of four drill holes, geologic mapping and sampling, and prospecting. Highlights include:
– | Carbonatite and/or alkaline rock types intersected in 2 of 4 drill holes, |
– | an approximate 90-m mapped strike-length of carbonatite in outcrop with apparent estimated thickness of >50 m; and |
– | the discovery of numerous additional outcrops of carbonatite, and related rocks, across an area measuring approximately 800 by 200 m. |
The most significant drill hole to date, CAP17-004 with an orientation of (163°/-55°) intersected:
– | 53 m to 75 m — Calcite Carbonatite, Fenite, Syenite, Country Rock |
– | 75 m to 152 m —Carbonatite (variable composition) |
– | 152 m to 219 m — Syenite and Fenite; EOH. |
The true thickness of these intersections is uncertain at this time.
The Company cautions, that although a diverse mineral assemblage is present throughout the core, it is too early to determine if any metals or minerals may be present in significant concentrations. Samples are currently being collected and are expected to arrive at the lab shortly.
Given the discovery of a new carbonatite complex at the CAP Property, the Company has staked an additional 15 claims totaling 7,657 hectares. The claims cover a north to northwest trending ridge which extends from CAP towards the Wicheeda REE Deposit, some 50 km to the northwest. The total Property now exceeds 10,482 hectares.
Further details will be released as they come available.
Jody Dahrouge, B.Sc, P.Geo., Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Figure 1: CAP17-004 – Carbonatite
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Figure 2: CAP17-004 – Carbonatite
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Figure 3: CAP17-004 – Carbonatite
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Figure 4: CAP17-004 – Lower Syenite
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ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
“Patrick Power”
Patrick Power, President
+1 (604) 689-1799
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.
Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not be able to finance our intended acquisition or intended exploration and we may not obtain regulatory approval for the transaction.
- Published in Arctic Star Exploration, Mining, News Home
Anfield Resources Announces Resource Report for Second of 24 Uranium Projects in Wyoming
Anfield Resources Announces Resource Report for Second of 24 Uranium Projects in Wyoming
Momentum Public Relations
Press Release: August 8, 2017
VANCOUVER, BC–(Marketwired – August 08, 2017) – Anfield Resources Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF)(FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce the receipt of an NI 43-101 mineral resource technical report for the Clarkson Hill uranium project, entitled “Clarkson Hill Uranium Project, Mineral Resource NI 43-101 Technical Report, Natrona County, Wyoming, USA” with effective date July 27, 2017 (the “Clarkson Hill Report”). Further to Anfield’s news release of March 21, 2017, the Clarkson Hill Report is the second in a series of NI 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 Inferred Resource of 957,000 tons of mineralized material with an average grade of 0.058{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} (equivalent to an Inferred Resource of 1,113,000 pounds of U3O8).
Corey Dias, Anfield’s CEO stated, “This report reflects Anfield’s continued drive to both identify and delineate the uranium resource on the Company’s properties in Wyoming in an effort to determine which of these projects are the most prospective. Ultimately, Anfield aims to pair a future viable uranium resource with the Resin Processing Agreement it has 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.”
A summary of the Inferred Mineral Resource included in the Clarkson Hill Report is presented in Table 1.
Table 1 Inferred Mineral Resources | ||||||
GT minimum | Pounds {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} eU3O8 | Tons | Average Grade {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}eU3O8 |
|||
0.20 | 1,113,000 | 957,000 | 0.058 | |||
Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with CIM 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 Clarkson Hill project comprises approximately 500 acres of the mineral holdings of Anfield, and includes 25 unpatented mining lode claims located approximately 20 air miles southwest of Casper, Wyoming. The data used in the report consists of radiometric-equivalent data (eU3O8) for 255 holes; drill intercept data from 17 core holes and 238 rotary drill holes were utilized, along with drill intercepts, chemical assay certificates and both lithological and geophysical logs.
To the best of our knowledge there are no other legal or environmental matters that could materially affect the potential development of these resources.
Radiometric equilibrium was assumed and is supported by available data.
A unit weight of 125 pounds per cubic foot or 16 cubic feet per ton was assumed, based on available data and the Author’s direct mining experience within the host formation.
The deposit is closely drilled, approximately fifty to one hundred foot centers. The drilling demonstrates continuity particularly along the mineralized trends. Based on the drill density and the apparent continuity of the deposit along trend the mineral resource estimate would meet the criteria as an Indicated Mineral Resource. However, due to the lack of current drilling to verify the pre-2008 drill data, the Author has classified the estimate as Inferred Mineral Resources under the CIM Standards on Mineral Resources and Reserves.
The estimated mineral resources do not have demonstrated economic viability, but they have had technical and economic constraints applied to them to establish reasonable prospects for eventual economic extraction. The author expects the majority of the Inferred could be upgraded to Indicated Mineral Resources with additional drilling.
NI 43-101 Disclosure
The NI 43-101 Resource Technical Report completed for Clarkson Hill has been authored by Douglas L. Beahm, P.E., P.G. 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 the System for Electronic Analysis and Retrieval (“SEDAR”) and the Company’s website within the 45 days permitted under NI 43-101.
About BRS
BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral exploration. Of particular note, it specializes in uranium exploration, mineral resource evaluation, mine design, feasibility, mine operations, and reclamation. It has completed numerous uranium projects including technical reports and feasibility studies for underground, open pit, ISR, and conventional uranium mills. Representative projects include technical reports and due diligence for project financing for conventional uranium projects including the Sheep Mountain and the JAB-RD open pit in Wyoming, the Cibola Project in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous ISR uranium projects in Wyoming and Paraguay.
Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, is a Qualified Person as defined in NI 43-101 with 40 years of professional and managerial experience. Mr. Beahm has a proven track record in a variety of mining and mine reclamation projects including surface and underground mining, heap leach recovery, ISR, and uranium mill tailings projects. Mr. Beahm’s experience includes coal, precious metals, and industrial minerals, but his emphasis throughout his career has been on uranium.
About Anfield
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. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centres, as summarized below:
Arizona/Colorado/Utah — Shootaring Canyon Mill
A key asset in Anfield’s existing portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
Wyoming — Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has also signed a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray processing plant in Wyoming. In addition, should Anfield sign uranium sales contracts, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its contracts.
Anfield’s ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
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.
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.
Contact:
Anfield Resources Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com
www.anfieldresources.com
- Published in Anfield Resources, Mining, News Home
Anfield Announces Early Exercise Warrant Incentive Program
Anfield Announces Early Exercise Warrant Incentive Program
Momentum Public Relations
Press Release: August 3, 2017
VANCOUVER, BC–(Marketwired – August 03, 2017) – Anfield Resources Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF)(FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it will immediately implement an incentive program to encourage the early exercise of up to 3,750,000 warrants issued on August 25, 2015, 6,200,000 warrants issued on March 15, 2016, 7,412,882 warrants issued on June 19, 2016, 4,347,825 warrants issued on September 18, 2016 and 28,880,615 warrants issued on March 3, 2017 (collectively, the “Warrants“).
In accordance with the terms of the program, the exercise price of the Warrants will be temporarily reduced to allow warrantholders to acquire 1.6 common shares of the Company for $0.10. This equates to an effective exercise price per Warrant of $0.0625. In order to qualify for the program, any Warrants must be exercised prior to 5:00 p.m. PST on August 25th, 2017. Any Warrants which are not exercised prior to the deadline will continue to be exercisable in accordance with their terms. In accordance with the policies of the TSX Venture Exchange, following expiry of the program no further amendments to the terms of the Warrants or additional exercise incentive programs will be permitted.
Warrantholders looking to participate in the program are encouraged to contact the Company at:
info@anfieldresources.com
604-687-0300
About Anfield
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. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centres, as summarized below:
Arizona/Colorado/Utah – Shootaring Canyon Mill
The key asset in Anfield’s existing portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s uranium assets consist of conventional mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield’s ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming, and comprise 2,667 federal mining claims, 56 Wyoming State leases and 15 private leases acquired from Uranium One in September 2016.
Anfield has agreed to enter into a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray Central Processing Plant in Wyoming.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
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.
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.
Contact:
Anfield Resources Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com
www.anfieldresources.com
- Published in Anfield Resources, Mining, News Home
Inca One Gold Reports April 30, 2017 Financial Statements and Q4 2017 Operational Highlights
Inca One Gold Reports April 30, 2017 Financial Statements and Q4 2017 Operational Highlights
Momentum Public Relations
Press Release: August 2, 2017
VANCOUVER, BC – August 2, 2017 – INCA ONE GOLD CORP. (TSXV: IO, Frankfurt: SU9.F, SSEV: IOCL) (“IncaOne” or the “Company”) has released its audited consolidated financial statements for the year ended April 30, 2017 (“YE 2017”) and the accompanying management’s discussion and analysis (“MD&A”). All figures in this press release are in Canadian dollars unless stated otherwise. These documents have been filed electronically with SEDAR and will be available on the Company’s website.
Q4 2017 Operational Highlights
The company generated a quarterly gross operating margin of $117,316 in Q4 2017, compared to a gross operating deficit of $774,498 and $537,948 in Q4 2016 and Q3 2017, respectively. This gross operating profit can be attributed to cost savings and operational efficiencies enacted in 2016, an increase in mineral grade processed and a higher gold price per ounce sold in this quarter.
Highlights during Q4 2017 include:
- RESULTS: Total sales of $4,247,620 (Q4 2016 – $2,496,234) with total cost of goods sold of $4,130,304 (Q4 2016 – $3,270,732) resulting in a gross margin of $117,316 (Q4 2016 – gross deficit $774,498);
- TONNES: 5,088 tonnes (Q4 2016 – 2,709 tonnes) of mineral was processed and an average daily processing volume of 58.5 TPD (Q4 2016 – 31.7 TPD) was achieved; and
- GRADE: the average gold grade processed was 0.52 oz/t (Q4 2016 – 0.49 oz/t).
Quarter over Quarter highlights | Q4 2017 |
Q3 2017 |
Q4 2016 |
Variance {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Q4 2017 to Q3 2017 |
Variance {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Q4 2017 to Q4 2016 |
Tonnes processed in COGS (t) | 5,401 | 6,970 | 2,748 | (22.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 96.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Tonnes processed in period (t) | 5,088 | 7,298 | 2,709 | (30.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 87.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Average daily processing volume (t) | 58.5 | 79.3 | 31.7 | (26.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 84.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Mineral grade processed (oz/t gold) | 0.52 | 0.50 | 0.49 | 5.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 7.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Gold sold (equivalent) (oz) | 2,640 | 3,208 | 1,526 | (17.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 73.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Gold sold (oz) | 2,575 | 3,149 | 1,459 | (18.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 76.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Silver sold (oz) | 4,433 | 4,119 | 5,206 | 7.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | (14.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Sales revenue ($) | 4,247,620 | 5,056,691 | 2,496,234 | (16.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 70.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Cost of goods sold (“COGS”) ($) | 4,130,304 | 5,594,639 | 3,270,732 | (26.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 26.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Gross operating margin (deficit) ($) | 117,316 | (537,948) | (774,498) | 121.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 115.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Revenue per tonne ($) | 786 | 725 | 908 | 8.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | (14.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Cost per tonne ($) | 765 | 803 | 1,207 | (4.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | (36.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Gross margin per tonne ($) | 22 | (77) | (286) | 128.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 107.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Average gold price per oz sold ($) | 1,609 | 1,576 | 1,590 | 2.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 1.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Cost per oz sold ($) | 1,564 | 1,744 | 2,241 | (10.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | (30.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Gross margin per oz sold ($) | 44 | (168) | (531) | 126.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 108.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Average London Close price ($) | 1,654 | 1,593 | 3.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | ||
Average London Close price ($USD) | 1,242 | 1,196 | 1,230 | 3.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 1.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Results of Operations – Q4 2017 compared to Q4 2016
Revenue for Q4 2017 was $4,427,620 (Q4 2016 – $2,496,234) and cost of goods sold was $4,130,304 (Q4 2016 – $3,270,732) resulting in a gross margin of $117,316 (Q4 2016 – gross deficit $774,498). The gross margin improvements were primarily due to cost saving measures, operating efficiencies and mineral purchasing efficiencies enacted over the year benefiting the quarter.
In Q4 2017 Inca One operated below plant capacity due to excessively harsh weather conditions that lead to widespread flooding across Peru. Notwithstanding the above, the Company radically increased operating effectiveness in all areas of the business in this post-Restructuring ramp-up environment.
During Q4 2017, the Company reported a gross operating margin of $117,316, and a net loss of $666,558, a significant improvement from the net loss of $2,826,758 during Q4 2016. This is primarily the result of cost cutting measures. The most significant components of the loss were a net restructuring cost of $365,353, management fees and salaries of $323,261, finance costs of $234,200 and professional fees of $95,385.
During Q4 2017 the Company’s net restructuring loss of $365,353 was composed of amortized marketing restructuring costs of $432,832, restructuring costs of $110,747, impairments of $23,702, offset by a gain on debt restructuring of $201,928. There were no restructuring costs in the comparable period in 2016.
Management fees and salaries during Q4 2017 decreased by $416,776 to 323,261 compared to $740,037 during Q4 2016, primarily due to cost cutting measures in fiscal 2017.
Finance costs during Q4 2017 decreased by $73,920 to $234,200 compared to $308,120 in Q4 2016 primarily due to significantly lower debt and interest post-Restructuring and Debt Settlement.
Professional fees during Q4 2017 decreased by $47,471 to $95,385 compared to $142,856 during Q4 2016 primarily due to cost cutting measures in fiscal 2017.
Future Outlook
The Company is moving forward with its business plan to focus on gold-bearing mineral processing facilities in Peru. Inca One believes that the Chala Plant operations will provide the necessary cash flow to achieve ongoing profitability in calendar 2017. The Company intends to use the funds and net profits from the mineral processing operations at the Chala Plant, and additional fundraising activities as required, to execute its business plan and expand mineral processing operations so that it can continue to achieve its long-term objectives.
About Inca One
Inca One is a Canadian-based mineral processing company. The Company’s activities consist of the production of gold and silver from the processing of purchased minerals located in Peru. Peru is the 6th largest producer of gold in the world and the Peruvian government estimates the small-scale mining sector accounts for a significant portion of all Peruvian gold production, to be valued at approximately US$3 billion annually. The Company purchases its minerals from government registered small-scale mining producers from various regions and processes it at its Chala One milling facility located in Chala, Southern Peru.
On behalf of the Board,
Edward Kelly,
President and CEO
INCA ONE GOLD CORP.
For More Information Contact:
Konstantine Tsakumis
Inca One Gold Corp.
Email: ktsakumis@incaone.com
Telephone: 604-568-4877
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.
Statements regarding the Company which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that the Company has limited operating experience with its Chala plant and future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
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