Defiance Identifies Large Target at San Acacio
Momentum Public Relations
Press Release: February 28 2018
Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (“Defiance”) is pleased to announce that it has identified a significant new target at depth at the San Acacio Project in Zacatecas, Mexico. The large open-ended target covers an area extending over 200 meters in a northwest to southeast direction along the 900-meter under-explored portion of the Veta Grande vein, immediately southeast of the San Acacio deposit. This new target was identified by an Induced Polarization (“IP”) survey following up on recent drilling and measures 200 meters long by 300 meters wide, starting at a depth of approximately 200m below surface on the surveyed area. The anomaly remains open in all directions and required an additional IP survey to close off the anomaly on the property. The anomaly correlates with the known strike and dip of the vein and occurs near where drill holes SAD17-18 and SAD17-19 intersected wide zones of anomalous silver mineralization that displayed characteristics of being high-level vein intercepts. The target remains to be drill tested and has the potential to host a virgin silver shoot at depth.
“We are pleased that our recent exploration program confirms our geological model that the Veta Grande vein continues to pinch and swell along strike. IP and drilling have delineated a coincident target with strong potential to host a virgin silver shoot,” stated Peter J. Hawley, President and CEO. “While it is still in its early days, this proves that the Veta Grande’s potential continues along its 4.4km of strike length yet to be tested. We are excited with the target and look forward to drilling it.”
All of the known silver shoots on the Veta Grande vein have already historically produced 200 million ounces of silver with the silver shoots at San Acacio containing a further resource totaling 18 million ounces silver (43-101 Inferred Mineral Resource Estimate).
Preliminary drill results from the first 2000 meters drilled along the 900 meter underexplored portion of the Veta Grande vein mostly returned mineralization and metals grades consistent with the pinching of the vein. Holes SAD17-18 (9.8 meters of anomalous silver) and SAD17-19 (27.76 meters of anomalous silver) discovered wide zones of amethyst-hosting vein that elsewhere on the Veta Grande vein are associated with silver shoots and high-grade silver mineralization. The mineralization in the amethyst-rich holes had characteristics indicative of being at a high-level in the vein system. Upon receiving final interpretation of the IP results, Defiance intends to recommence drilling.
A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 7 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits.
Mr. Peter J. Hawley, P.Geo. Interim President & CEO, Chairman of the Board to Defiance Silver Corp, is a Qualified Person within the meaning of National Instrument 43-101, and has approved the technical information concerning the Company’s material mineral properties contained in this press release.
On behalf of Defiance Silver Corp.
“Peter J. Hawley“
Interim President & CEO
Chairman of the Board, Director
For more information, please contact: Sunny Pannu — Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com
2300 – 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315
Email:info@defiancesilver.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
- Published in Defiance Silver
Mining Industry Turnaround Showcased at PDAC 2018
Momentum Public Relations
Blog: February 28th
The premiere mining convention in the world is about to take place
in Toronto as the Prospectors and Developers Association of
Canada, PDAC, holds its annual convention from March 4-7, 2018.
As mining conventions go, PDAC attracts the largest numbers in
the world with more than 24,000 attendees expected this year.
PDAC has a domestic and international membership 7,500 strong.
Canadian mining companies operate in more than 100 countries
and no wonder. Canadians are good at mining, it is, not to put too
fine a point on it, one of our bedrock industries.
Internationally, mining companies like to list on the TSX because
after the C$ 6 billion Bre-X gold scandal of the 1990s and the
resulting mining sector slaughter, Canada cleaned up its regulatory
act and introduced NI 43-101, a mechanism that fosters
transparency in what can and cannot be said about a mining claim.
NI 43-101 helped eliminate fraud and boiler room scams in the
industry and made the Toronto exchange the place for listing and
raising capital. As a result more than half the mining companies in
the world list on the TSX and TSXV.
Last year almost 600,000 people worked in the Canadian mining
industry and the dollar value was in excess of C$60 billion. In
terms of the social fabric, Canadian mining employs more
Indigenous Canadians than any other industry.
Canadian governments recognize the importance of mining to the
Canadian economy. British Columbia has just announced a 12
member task force made up from the mining industry, Indigenous
community and labour to assess the health and vitality of the
industry in British Columbia and make proposals on how to
provide job security during commodity price fluctuations. In
British Columbia the mining industry generates 30,000 jobs and
generates C$6 billion. No small potatoes.
Mining is important to industry. Without iron ore, for instance, we
wouldn’t have steel. Moving forward, the next great industrial
revolution, from petroleum to renewable energy, won’t be able to
take place without the mining industry exploring for secure sources
of cobalt, lithium and graphite, new generation rechargeable
battery metals.
And then there is graphene, a material that is refined from graphite
which is much thinner and much stronger than steel. Among the
remarkable products that graphene can be used to produce is a
building coating that not only generates and supplies all the
electricity used to power a building but can also be used to change
the colour of a building. Imagine your office going from green
when it is open and to red when it is closed.
After going through an ugly period where financing was difficult
for majors and almost impossible for juniors, explorers and
developers are beginning to find project financing.
Last year, according to a story in the Globe and Mail’s February
27, 2018 issue, Brian Milner wrote that 20 mining companies went
public on Canadian exchanges and that roughly C$830 million was
raised for mining companies during 2017. Mining companies
provided more than half of the new issues introduced last year. The
amount invested, C$830 million, was the largest sum invested in
seven years.
At the moment, the mining industry seems poised for takeoff.
Commodity prices for base metals have improved. Major
companies that overspent on resources have largely put their
financial houses in order. Because prospecting and exploration
were put off during the recent past, mining companies are now
looking to find new reserves and build up project pipelines.
During mining’s recent awful bad day that went on for years,
prominent newsletter writers continuously wrote that it was time
for the industry to clean up its act and reduce the number of
zombie companies on the exchange.
A typical zombie company would be a junior that has a good story
and not much else, not the skill or the financing to advance any
project that it does hold. By listing on the exchange and raising
money it dilutes the capital available for juniors that have the skill
and ability to develop a project.
Doug Ramshaw, the President and CEO of Corex Gold, (TSXV:
CGE) believes that the industry needs more mergers like the one
which Corex is currently engaged in. Corex and Minera Alamos
are in the merger process in what Ramshaw describes as a perfect
fit.
The merged company will operate under the Minera Alamos name
for the time being and have three advanced stage gold projects
under development. One, Corex’s Santana property is expected to
be in full production by the end of the year producing 25-35,000
ounces of gold a year.
The resulting revenue will be used to help finance production at
Minera Alamos’ two advanced stage projects, Fortuna and
Guadelupe dos Reyes. All three projects will be processed using
low-capex heap leaching and Ramshaw estimates that when all
three projects are up and running annual production will hit
150,000 ounces of gold.
By using low cost heap leaching the mines will be profitable even
if the price of gold falls back. Merging the two companies will
produce one that has a market cap in the C$50 million range, one
that will be able to attract any financing it needs going forward.
If you feel like placing a bet on a junior gold exploration company
you may want to consider Alliance Mining, (TSXV: ALM) which
is starting to consolidate land claims in the Bissett gold camp in
southeastern Manitoba. The company already has three highly
prospective targets, including Packsack, a past producing gold
mine.
The best place to find a gold mine is next to another gold mine and
Packsack is four km away from Klondex’s True North Mine and
mill complex. More than 1.7 million ounces of gold have been
produced at the Bissett-Red Rice Lake gold camp.
On the other hand you may also be interested in investing in the
future. Equitorial Explorations, (TSXV: EXX) is currently
advancing three significant lithium properties.
You can also invest in the future of mining by investing in Albert
Mining, (TSXV: AIIM). Albert is named after Einstein because the
company has an AI powered exploration system called CARDS
which it using to find drill targets.
Canada’s mining industry is back and attracting smart money. If
you do invest remember to do your own due diligence, caveat
emptor.
- Published in Blog
Deep-South agreement for St. John property
Momentum Public Relations
Press Release: February 28 2018
The TSX Venture Exchange has accepted for filing documentation in connection with an asset purchase agreement dated Dec. 18, 2017, between the company and Sparrowhawk Gold Ltd., whereby the company has acquired a 90-per-cent interest in the St. John project, neighbouring the Kokoya gold mine situated northeast of Liberia. Consideration is as follows:
- Year 1, $20,000 (U.S.) cash payment and 250,000 common shares;
- Year 2, $20,000 (U.S.) cash payment and 250,000 common shares;
- Year 3, $35,000 (U.S.) cash payment and 250,000 common shares;
- Year 4, $50,000 (U.S.) cash payment and 250,000 common shares;
- On the confirmation National Instrument 43-101 inferred resources of 350,000 ounces gold (Au) on the property, 250,000 common shares of issuer will be issued to Sparrowhawk;
- On the confirmation NI 43-101 inferred resources of 750,000 ounces Au on the property, 500,000 common shares of issuer will be issued to Sparrowhawk;
- On the confirmation NI 43-101 inferred resources of 1.5 million ounces Au on the property, 500,000 common shares of issuer will be issued to Sparrowhawk;
- Sparrowhawk shall be entitled to a production bonus of $1-million (U.S.), to be paid 60 days after the day of commercial production commencement;
- Sparrowhawk shall be entitled to hold a 1.5-per-cent net smelter return (NSR) royalty calculated on 100 per cent of production from the property; Deep-South shall hold an option to buy back one-half of the NSR by making a cash payment of $500,000 to Sparrowhawk at any time.
- Published in Deep South Resources Inc.
Crystal Lake gets TSX-V OK for Ont. claims purchase
Momentum Public Relations
Press Release: February 27 2018
PROPERTY ASSET AGREEMENT APPROVED AS CRYSTAL LAKE TARGETS RAINY RIVER DISTRICT FOR NEW NICKEL-RICH SULPHIDE DISCOVERIES
The TSX Venture Exchange has accepted for filing a purchase agreement dated Sept. 28, 2017, between Crystal Lake Mining Corp. and Emerald Lake Development Corp., a private Ontario company, whereby Crystal Lake has acquired certain mineral rights subject to a 2-per-cent net smelter return located in the Rainy River district near Emo, Ont.
As consideration for 100 per cent of the mineral rights, Crystal Lake will pay $50,000 on closing and issue 10.5 million common shares of the company. Significantly, the vendor has agreed to an 18-month voluntary hold period on selling the shares issued in connection with the transaction. For further information, please refer to the company’s news release dated Oct. 5, 2017.
The transaction is arm’s length in nature, and there are no finders’ fees.
The six separate prospective claim blocks that have been acquired are targeting nickel, copper, cobalt and platinum group minerals.
Crystal Lake is rapidly approaching the start of its exploration/drilling program and eagerly anticipates updating shareholders regarding its plans in the very near future.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through new nickel-rich sulphide discoveries in the underexplored Rainy River district of Northern Ontario using technical excellence in exploration target development and technologies.
We seek Safe Harbor.
- Published in Crystal Lake Mining
After Successful Screening of 2,500 patients as part of a Pilot Project with Kanhoor Medical Co, DIAGNOS will Now Screen 35,000 patients in the Kingdom of Saudi Arabia
Momentum Public Relations
Press Release: February 27 2018
Diagnos Inc. (“DIAGNOS” or “the Corporation”) (TSX Venture:ADK), (OTCQB:DGNOF), a leader in early detection of critical health issues through the use of its FLAIRE platform based on Artificial Intelligence (AI), announces today a positive conclusion to multiple pilots project by signing a three-year contract with Kanhoor Medical Co. (Kanhoor) in the kingdom of Saudi Arabia.
Diabetes mellitus is one of the largest global health crisis of the 21st century and a major public health problem in Saudi Arabia in parallel with the worldwide diabetes pandemic. The prevalence of diabetes is progressing strongly year after year in this country. Diabetes is now present in much younger age group, which in turn will most likely result in growth of Diabetic Retinopathy (DR). As per the World Health Organization (WHO), Saudi Arabia ranks seventh in the world for diabetes. Approximately seven (7) million of the population in Saudi Arabia are diabetic and around three (3) million are pre-diabetic. This represents a pool of ten (10) million patients in need of being screened yearly for DR.
For the past 10 months, DIAGNOS and Kanhoor teams have worked diligently on four pilots. In partnership with Al Kahhal Medical Complex, the first two successful pilots were in Dammam and AL-Hasha in the eastern province of Saudi Arabia. We just completed our third pilot in Riyadh at the Shaqra General Hospital and we now are screening patients at the prestigious King Faisal Hospital.
The results were convincing and generated a very positive endorsement from the medical team involved. Kanhoor has agreed to extend its agreement with DIAGNOS for three years. “Our objective is to screen every diabetic patient in the Kingdom with CARA in extending the services to the private health sector, NGO’s and in the public system as well. “Our short term objective is to screen 35,000 in the coming year. We’re in discussions with other health providers with our neighbouring countries in the Middle East so they can also benefit from early detection,” said Rashid Al Mugait, president of Kanhoor.
In order to support this new service, we are announcing the creation of grading centre in Dammam. The grading centre will use DIAGNOS AI (Artificial Intelligence) technology to support its activity and it will be connect virtually to all the screening clinics of Kanhoor Medical Go. “Right at the screening site, at risk patients will know right away if additional treatments are needed to protect their vision. The solution will help us to screen more patients and at lower cost. The patients will gain a better access to care to avoid risks, delay and undue stress for them and their families,“ said Dr Abdulaziz Rushood from Al Kahhal Medical Complex. Dr Rushood is an ophthalmologist, vitreo retinal surgeon and Assistant Professor at King Fahd University Hospital.
“This announcement by Kanhoor is very strategic for the growth of DIAGNOS in Saudi Arabia, the Gulf region and the Middle-East. We now have a highly technical savvy partner with strong ties in the market to sell our technology in this region of 22 countries. By creating a grading center in Saudi Arabia, we will strengthen our collaboration with this medical community and tremendously increase the efficiency of the screening process to benefit the patients,” said Yves-Stéphane Couture, DIAGNOS Vice-President of sales.
About Kanhoor Medical Co:
Al Kanhoor is focusing on telemedicine in KSA providing technology for remote patients observation, marketing Diagnos suite of products in KSA and beyond. Al Kanhoor is a sister company of HAJZTELECOM “HTC” Technology & Telecom solutions provider and contractor to Saudi Telecom -STC- contractor since 1997.
About CARA
CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care (POC) and comprises: image upload, image enhancement automated pre-screening, grading by a specialist, and referral to a specialist. CARA’s Artificial Intelligence, based on FLAIRE technology, image enhancement algorithms make standard retinal images sharper, clearer, and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras, and is EMR compatible. CARA is a cost-effective tool for screening large numbers of patients, in real time and has been approved by regulatory authorities including Health Canada, US Food and Drug Administration, the European Union and others.
Additional information is available at www.diagnos.ca and www.sedar.com.
For further information, please contact:
Mr. André Larente, President | Daniel Renaud or Thomas Renaud, Managing Directors |
DIAGNOS Inc. | Arrowhead Business and Investment Decisions, LLC |
Tel: 450-678-8882 ext. 224 | Tel: +1 212 619 6889, ext. 7010 |
alarente@diagnos.ca | diagnos@arrowheadbid.com |
This news release contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements. DIAGNOS disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
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.
- Published in Diagnos
St-Georges Eco-Mining Provide Corrections to February 26, 2018 News Release: St-Georges Eco-Mining Subsidiary ZeU Crypto Signs Definitive Agreement with Tiande
Momentum Public Relations
Press Release: February 27
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) This document corrects and replaces the press release that was issued by St-Georges Eco-Mining Corp. (CSE: SX) today, February 26, 2018 at 11:56:26 AM EST. The error occurred in the paragraph three (3) where it should have read “75,000,000 common share purchase warrants” instead of “150,000,000” and “an additional 10,000,000 Shares” instead of “75,000,000”, the whole as a corrected copy below.
St-Georges Eco-Mining Subsidiary ZeU Crypto Signs Definitive Agreement with Tiande
-FOR IMMEDIATE RELEASE-
Montreal, February 26, 2018 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that, further to its January 15 and February 8, 2018 press releases, its wholly owned subsidiary ZeU Crypto Networks Inc. (“ZeU”) has signed a definitive asset purchase agreement dated February 23, 2018 with Qingdao Tiande Technologies Limited (“Qingdao”) and Beijing Tiande Technologies Limited (“Beijing” and together with Qingdao, the “Vendors”) with the intervention of Guiyang Tiande Technologies Limited to purchase substantially all the intellectual property of the Vendors (the “Acquisition”).
The following are the material terms of the agreement:
-ZeU will acquire the Vendor’s intellectual property (including without limitation, all intellectual property and patent applications directly or indirectly related to the Blockchain and smart contract technologies of the Vendors (the “Blockchain Technology”), including without limitation, BigData, IoB, Sandbox) (the “IP”)
-the Vendors will complete: (i) the transfer and successful employment by ZeU of all key employees; (ii) the transfer and assignment of all the IP to ZeU; (iii) the obtaining of all regulatory approvals should they be required; and (iv) the obtaining of all required consents including all consents from clients and collaborators pursuant to the existing contracts of the Vendors (the “Milestone Conditions”)
-ZeU, the Vendors and key collaborators will enter into a license agreement and non-competition covenant which will provide, among other things, that ZeU shall irrevocably grant a perpetual , exclusive, transferable and sub-licensable license to the Vendors for use of the Blockchain Technology in China, Hong Kong and Taiwan
-ZeU will have completed or caused to be completed prior to the Closing Date a debenture financing of not less than $10,000,000 and up to $30,000,000 (the “Concurrent Financing”)
The purchase price for the Acquisition shall be up to 150,000,000 common shares of ZeU (each a “Share” and 75,000,000 Share purchase warrants (each a “Warrant”) to the Vendors, satisfied by (i) the delivery of a total of 65,000,000 Shares and 75,000,000 Warrants on the closing date of the Acquisition (the “Closing Date”), (ii) to the extent and only if all of the Milestone Conditions (as defined hereinabove) are satisfied, the delivery of an additional 10,000,000 Shares, within 3 Business Days following the satisfaction of the Milestone Conditions or the Closing Date (whichever is later) and (iii) to the extent and only if twenty (20) new patents pertaining to the Blockchain Technology are issued (the “Patent Condition”), the delivery of an additional 75,000,000 Shares, within 3 Business Days following the satisfaction of the Patent Condition.
Each Warrant will be exercisable at a price equal to the conversion price pursuant to the Concurrent Financing for a period of three (3) years following the date ZeU completes a transaction pursuant to which its Shares will either be listed on a recognized stock exchange in North America, or will be exchanged for common shares of a reporting issuer listed on a recognized stock exchange in North America.
The agreement was negotiated at arm’s length, and contains customary representations, warranties and closing conditions.
On closing of the Acquisition, Dr. Wei Tek Tsai is to join ZeU’s management as Chief Technology Officer.
The Acquisition remains subject to requisite regulatory approval and satisfaction of closing conditions contained in the agreement.
The Acquisition remains subject to a number of conditions as set forth in the agreement, including (without limitation), the completion of the Concurrent Financing (as defined hereinabove), the receipt of all requisite regulatory approvals and satisfaction of closing conditions contained in the agreement.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
- Published in St-Georges Eco-Mining, Uncategorized
St-Georges Eco-Mining Subsidiary ZeU Crypto Signs Definitive Agreement with Tiande
Momentum Public Relations
Press Release: February 26 2018
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that, further to its January 15 and February 8, 2018 press releases, its wholly owned subsidiary ZeU Crypto Networks Inc. has signed a definitive asset purchase agreement dated February 23, 2018 with Qingdao Tiande Technologies Limited and Beijing Tiande Technologies Limited w ith the intervention of Guiyang Tiande Technologies Limited to purchase substantially all the intellectual property of the Vendors.
The following are the material terms of the agreement:
- – ZeU will acquire the Vendor’s intellectual property (including without limitation, all intellectual property and patent applications directly or indirectly related to the Blockchain and smart contract technologies of the Vendors (the ” Blockchain Technology “), including without limitation, BigData, IoB, Sandbox) (the ” IP “)
- – the Vendors will complete: (i) the transfer and successful employment by ZeU of all key employees; (ii) the transfer and assignment of all the IP to ZeU; (iii) the obtaining of all regulatory approvals should they be required; and (iv) the obtaining of all required consents including all consents from clients and collaborators pursuant to the existing contracts of the Vendors (the ” Milestone Conditions “)
- – ZeU, the Vendors and key collaborators will enter into a license agreement and non-competition covenant which will provide, among other things, that ZeU shall irrevocably grant a perpetual , exclusive, transferable and sub-licensable license to the Vendors for use of the Blockchain Technology in China, Hong Kong and Taiwan
- – ZeU will have completed or caused to be completed prior to the Closing Date a debenture financing of not less than $10,000,000 and up to $30,000,000 (the ” Concurrent Financing “)
The purchase price for the Acquisition shall be up to 150,000,000 common shares of ZeU (each a ” Share ” and 150,000,000 Share purchase warrants (each a ” Warrant “) to the Vendors, satisfied by (i) the delivery of a total of 65,000,000 Shares and 75,000,000 Warrants on the closing date of the Acquisition (the ” Closing Date “), (ii) to the extent and only if all of the Milestone Conditions (as defined hereinabove) are satisfied, the delivery of an additional 75,000,000 Shares, within 3 Business Days following the satisfaction of the Milestone Conditions or the Closing Date (whichever is later) and (iii) to the extent and only if twenty (20) new patents pertaining to the Blockchain Technology are issued (the ” Patent Condition “), the delivery of an additional 75,000,000 Shares, within 3 Business Days following the satisfaction of the Patent Condition .
Each Warrant will be exercisable at a price equal to the conversion price pursuant to the Concurrent Financing for a period of three (3) years following the date ZeU completes a transaction pursuant to which its Shares will either be listed on a recognized stock exchange in North America, or will be exchanged for common shares of a reporting issuer listed on a recognized stock exchange in North America.
The agreement was negotiated at arm’s length, and contains customary representations, warranties and closing conditions.
On closing of the Acquisition, Dr. Wei Tek Tsai is to join ZeU’s management as Chief Technology Officer.
The Acquisition remains subject to requisite regulatory approval and satisfaction of closing conditions contained in the agreement.
The Acquisition remains subject to a number of conditions as set forth in the agreement, including (without limitation), the completion of the Concurrent Financing (as defined hereinabove), the receipt of all requisite regulatory approvals and satisfaction of closing conditions contained in the agreement.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
- Published in St-Georges Eco-Mining, Uncategorized
Deep-South Discloses a Preliminary Economic Assessment, NPV: CA $ 895 Million, Pre-Tax IRR: 30.4% at a Price of Copper of US $ 3.00 Per Lbs, on The Haib Copper Project in Namibia
Momentum Public Relations
Press Release: February 26 2018
Deep-South Resources Inc. (” Deep-South ” or ” the Company “) (TSX-V: DSM) today announced that it has received the results of a Preliminary Economic Assessment (“PEA”) from Mineral Engineering and Technical Services of Australia (“METS”) on its Haib Copper project in Namibia .
Highlights of PEA
Four recovery options were considered for economic evaluation. The best economic outcome is derived by using option 3 which combines an initial ore sorter upgrade with subsequent heap leaching of the upgraded material. All financial metrics are based on the recent 43-101 indicated resource estimation of 456.9 MT @ 0.31% Cu. The salient features of this option are as follows:
Table 1: Option 3 financial metrics
Financial Metric | $3.00/lb Cu Price | $3.30/lb Cu Price | $3.60/lb Cu Price |
CAPEX | US$191.8M | US$191.8M | US$191.8M |
Total Operating Expense1 | US$1.41/lb CuEq | US$1.42/lb CuEq | US$1.43/lb CuEq |
NPV7.5%, pre-tax | US$716.2M (CA$895.3M) | US$883.1M (CA$1,103.9M) | US$1,049.3M (CA$1,311.6.1M) |
IRRpre-tax | 30.4% | 34.9% | 39.2% |
Payback Period pre-tax | 4.2 years | 3.6 years | 3.3 years |
NPV7.5%, post-tax | US$463.1M (CA$578.9M) | US$567.4M (CA$709.3M) | US$671.3M (CA$839.1M) |
IRRpost-tax | 23.0% | 26.1% | 29.1% |
Payback Periodpost-tax | 5.7 years | 4.9 years | 4.4 years |
Throughput (Mtpa) | 8.5 | 8.5 | 8.5 |
Annual production lbs / CuEq | 47 million | 47 million | 47 million |
Strip ratio | 2:1 | 2:1 | 2:1 |
LOM | 55 years | 55 years | 55 years |
1 Variable due to change in absolute royalty payment due to increased revenue
The PEA focuses on the potential of heap leaching treatment. Several opportunities are identified in the PEA that could significantly enhance the economic return outlined in the report, including more assays of the molybdenum to be included in future resources estimation, sorting technologies enhancing the recovery processing performance and reduced power costs. The PEA recommends these opportunities be pursued and to proceed with a pre-feasibility study (“PFS”).
“By going with heap leach treatment and sorting technologies, we have been able to provide low capital cost and operating costs and, equally as important, reduce the environmental footprint of the project,” said Pierre Leveille, President & CEO of Deep-South. “The PEA proposes a robust economic return that we expect to enhance during the PFS stage.”
Four recovery options were considered for economic evaluation:
Option 1: Ore sorter upgrading, dense media upgrading, flotation and heap leaching of the tails.
Option 2: Two-stage dense media upgrading, flotation and heap leaching of the tails.
Option 3: Ore sorter upgrading and heap leaching of the upgraded material.
Option 4: Whole ore heap leaching.
Table 2: Economic summary for the 4 recovery options
Financial Metric | Option 1 | Option 2 | Option 3 | Option 4 |
Throughput (Mtpa) | 8.5 | |||
Copper Recovery (%) | 77.1 | 82.1 | 73.2 | 80.0 |
CAPEX
($M) |
US$221.2 | US$250.1 | US$191.8 | US$220.3 |
Total Operating Expense
($/lb CuEq) |
US$1.46 | US$1.47 | US$1.41 | US$1.37 |
NPV7.5%, pre-tax ($M) | US$645.1
(CA$817.6) |
US$662.6
(CA$828.3) |
US$716.2
(CA$895.3) |
US$794.1
(CA$992.6) |
IRR pre-tax (%) | 25.9% | 24.4% | 30.4% | 29.7% |
Payback Period pre-tax | 5.0 years | 5.3 years | 4.2 years | 4.3 years |
NPV 7.5%, post-tax ($M) | US$421.0
(CA$526.3) |
US$434.3
(CA$542.9) |
US$463.1
(CA$578.9) |
US$514.1
(CA$642.6) |
IRR post-tax (%) | 20.0% | 19.0% | 23.0% | 22.6% |
Payback Period post-tax | 6.7 years | 7.1 years | 5.7 years | 5.8 years |
Options 3 & 4 have shown better economic figures, despite option 3 having a relatively low copper recovery compared to the other options as the use of ore sorting technology has the benefit of reducing the downstream capital requirements. Those two options will be the object of further testwork and a Pre-Feasibility Study (“PFS”).
Option 3 is the case presented in this press release.
Economic Opportunity
METS believes a ramp up to 20 Mtpa as the project is nearing positive cash flow will increase the financial viability. METS have developed a scenario which focuses on option 3 – the best economic option in terms of IRR – in assessing the impact of increasing the scale of the project. The assessment looks at beginning the project at 20 Mtpa, however it is recommended to stage the expansion over a number of years (e.g. start at 8.5 Mtpa, increase to 10 Mtpa and then increase to 20 Mtpa for instance). The following table outlines the key economic outcomes for the larger throughput scenario (using the base case figures – e.g. $3.00/lb copper price).
Table 3: Option 3 at an increased 20 Mtpa throughput
Financial Metric | 8.5 Mtpa Scenario
($3.00/lb Cu) |
20 Mtpa Scenario
($3.00/lb Cu) |
CAPEX | US$191.8M | US$320.5M |
NPV7.5%, post-tax | US$463.1
(CA$578.9) |
US$854.9M
(CA$1,061.9M) |
IRR post-tax | 23.0% | 28.6% |
Payback Period post-tax | 5.7 years | 4.5 years |
LOM | 55 years | 24 years |
A throughput optimisation study should be performed once a final process design has been selected.
Recovery Method
For the recovery of copper from the Haib deposit, heap leaching was considered for all options. The primary reasons for the selection of heap leaching is the low grade nature of the deposit and the vast scale of the orebody. Previous work conducted on the Haib project suggests that a conventional crush-grind-float and sale of copper concentrate is not economically feasible due to the low grade and hardness of the ore – requiring a significant amount of energy for grinding. The low costs associated with heap leaching compared to a whole ore flotation circuit is believed to improve the viability of the project. Heap leaching is traditionally performed on oxide material, although there has been increasing development in the application to acid insoluble sulfides.
Previous sighter amenability testwork, carried out by Mintek, METS and SGS South Africa, suggests the Haib material can extract high amounts of copper, up to 95.2% via a bacterial assisted leaching, although additional testwork is required to determine the optimal operating parameters. Given these results there is no reason to suggest the chalcopyrite in the Haib deposit will not be amenable to bacterial assisted heap leaching. The system design proposed will use 3 crushers and an ore sorting system (either on the primary crushed product or the secondary crushed product depending on the technology selected) that will provide higher grade ore to the heaps. The primary crusher will reduce the rock to 127 mm (gyratory crusher) , the secondary crusher to 32 mm (cone crusher) and the tertiary crusher to 5 mm (HPGR). The process is designed for a 90% availability, processing over 23,000 tonnes of ore per day (at the 8.5 Mtpa scenario) at a strip ratio of waste:ore of 2:1.
Haib Copper flow sheet diagram:
Molybdenum recovery has been considered for the flowsheet design, although no operating expense, capital expense or revenue has been considered for the economic analysis. The economics of the molybdenum will be assessed once it is included in the indicated resource.
An indicated resource of 456.9 Mt at 0.31% copper at an annual throughput of 8.5 Mtpa would correspond to a 55 year project life. Due to the long project life, it is suggested to start at 8.5 Mtpa and operate at this throughput for approximately 3 years and then execute staged expansions to eventually ramp up to 20 Mtpa, ultimately shortening the project life. As the resource expands and the inferred resource progresses towards measured, then additional expansion to possibly 40+ Mtpa should be assessed. All flowsheets, mass balances, design criteria and equipment lists are based on an 8.5 Mtpa throughput; although financial components have been scaled to provide estimates for the higher throughput scenario.
The PEA technical report will be filed on SEDAR at www.sedar.com and on the Deep-South website atwww.deepsouthresources.com shortly after the issuance of this news release.
Geology & Mineralization
The Haib deposit is located within part of the Namaqua-Natal Province called the Richtersveld geological sub-province which is further subdivided into a volcano-sedimentary sequence (locally, the Haib Subgroup), the Orange River Group and the intrusive Vioolsdrift suite which are closely related in space and time.
The principal mineralised hosts at the Haib are a Quartz Feldspar Porphyry (QFP) and a Feldspar Porphyry (FP).
The Haib deposit is in essence a very large volume of rock containing copper mineralization. The grade is variable from higher grade in the three core zones progressively dropping towards the margin of the deposit.
The principal sulphides within the Haib body are pyrite and chalcopyrite with minor molybdenite, bornite, digenite, chalcocite and covellite.
Mineral Resources
The mineral resources for the Haib Copper Project were estimated by Dean Richards of Obsidian Consulting Services, supervidsed by Peter Walker of P & E Walker Consultancy, both independent Qualified Persons as defined by NI 43-101 and were reported in a news release dated January 16, 2018 but are summarized below for convenience. Readers should review that news release for additional information or read the full report that can be viewed on our web site at: www.deepsouthresources.com or on the SEDAR web site at: www.sedar.com .
Table 4: Classified mineral resources of the Haib Project at a 0.25% Cu cut-off grade
Resource Class | xMillion Tonnes | Cu(%) | Contained Cu x billion lbs |
Indicated | 456.9 | 0.31 | 3.12 |
Inferred | 342.4 | 0.29 | 2.19 |
Notes:
1- Dean Richards of Obsidian Consulting Services, a Member of the Geological Society of South Africa and Professional Natural Scientist (Pr. Sci. Nat) with the South African Council for Natural Scientific Professions (SACNASP), estimated the Mineral Resources under the supervision of Peter Walker of P & E Walker Consultancy, both of whom are the Qualified Persons for the Mineral Resource Estimates. The effective date of the estimate is January 15, 2018. Mineral Resources are estimated using the CIM Definition Standards for Mineral Resources and Reserves (2014).
2- Reported Mineral Resources contain no allowances for hanging wall or footwall contact boundary loss and dilution. No mining recovery has been applied.
Rounding as required by reporting guidelines may result in apparent differences between tonnes, grade and contained metal content.
Table 5: Haib copper indicated mineral resources, sensitivity cases
%Cu Cut-off | xMillion Tonnes | Cu(%) | Contained Cu x billion lbs |
0.20% | 904.8 | 0.27 | 5.39 |
0.25% | 456.9 | 0.31 | 3.12 |
0.30% | 219.8 | 0.36 | 1.74 |
Table 6: Haib copper inferred mineral resources, sensitivity cases
%Cu Cut-off | xMillion Tonnes | Cu(%) | Contained Cu x billion lbs |
0.20% | 686.2 | 0.26 | 3.93 |
0.25% | 342.4 | 0.29 | 2.19 |
0.30% | 109.8 | 0.34 | 0.82 |
This Haib Copper Mineral Resource has been defined by diamond core drilling covering a total surface area of some 2.6 square kilometres.
The mineral resource classification is closely related to data proximity. Topographic elevations within the mineral resource area vary from 320m to 640m above mean sea level and average 480m above mean sea level.
Indicated resources are constrained between the variable topographic surface and a horizontal level which is 75m above mean sea level and within which the majority of the drill and assay data are constrained. Inferred resources are laterally constrained by the last line of drill holes and extend vertically from the horizontal surfaces defined by the +75m and -350m above mean sea level ( a block of 425m thickness) within which there is a lesser data set derived from drilling.
Mineralization is open near surface and at depth to at least 800 metres deep. The Mineral Resource estimate is based on the results from approximately 66,500 metres of drilling in 196 holes. The most recent drilling data comes from Teck Resources drilling programs totalling 14,500 metres (2010 & 2014) and from re-assaying a part of the 164 historical drill cores which are well preserved on site. Indicated Resources are defined by a drill grid of 150 metres by 150 metres, while Inferred Resources are defined by a drill grid of 300 metres by 150 metres.
The Haib Copper exploration licence provides significant potential for resource expansion, since there is known, but poorly drilled and assayed, mineralisation beyond the drill grid boundaries and below the main mineralised body (which covers some 2 square kilometres of surface area), where a few drillholes from 75m above mean sea level to -350m above mean sea level (i.e. a thickness of 425m) have shown that mineralisation is present. The deepest drillhole did not pass out of mineralised material. In addition, there are 5 satellite mineralised target areas surrounding the main Haib porphyry body which still require further evaluation.
Mineral Resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates ar based on Indicated Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves . However, there is no certainty that these indicated mineral resources will be converted to measured categories through further drilling, or into mineral reserves, once economic considerations are applied. There is no certainty that the preliminary economic assessment will be realized.
Mineralogy
The Haib Copper Deposit is a large sulphide ore deposit. Copper is mainly present as a sulphide in the form of chalcopyrite. Copper is also present as oxides (chrysocolla, plancheite, malachite and azurite), occurring as intrusions in shear zones.
Initial testwork results showed that the Haib mineralisation is a competent quartz feldspar porphyry rock.
It can be seen that the main ore is copper with only an accessory amount of molybdenum present. The chalcopyrite also occurs as occasional coarse irregular grains from 0.1 mm to 0.35 mm.
Mining Methods
Considering the Haib copper deposit characteristics, the suitable mine design is based on an open pit method. As the deposit is basically composed of hard rock material, the mining operations will involve drill and blast of all excavated material, which will be segregated by cut-off grade.
The mining fleet considered being suitable for the Haib project would most likely consist of between 80 t and 120 t sized hydraulic excavators, off highway dump trucks with a capacity of between 65 t to 90 t, supported by standard open-cut drilling and auxiliary equipment.
Tailings disposal
Option 1 and 2 will generate approximately 250 ktpa tonnes per annum of tailings from the flotation circuit. Due to environmental and water recovery considerations the tailings will undergo dry staking. All options include dry stacking of the iron oxide waste from the iron removal stage (250-500 ktpa depending on the process option). The remaining waste will either be from the ore sorter rejects or from the heap leach pads (~8 Mtpa) and will be coarse rock material. The heaps will remain in place and undergo periodic washing to ensure copper extraction is maximised. Washing will be stopped once the ore is considered ‘spent’. The ore sorter rejects and the spent ore can be disposed of in a manner that produces a suitably stable landform.
Environmental considerations
In terms of environmental aspects, dry stack facilities offer a number of advantages to other surface tailings storage options – some of these include:
- — Reduced water requirements, principally achieved by recycling process water and near elimination of water losses through seepage and/or evaporation;
- — Groundwater contamination through seepage is virtually eliminated;
- — Significant safety improvement with the risk of catastrophic dam failure and tailings runout being eliminated;
- — Easier to close and rehabilitate.
Waste rock storage
It is suggested to consider stockpiling the low-grade ore to process it at the end of mine life, in case the copper price increase considerable by the end of the mine life and/or a new mineral processing technology be created or developed.
Capital Cost
Direct capital costs were estimated at US $ 139.6 million, including off-site infrastructure. Indirect costs and a 10% contingency were estimated at US $ 52.2 million, which bring the initial capital cost to a total of US $ 191.8 million.
Table 7: Capital cost breakdown
Cost (US$M) | Option 3 |
Crushing & HPGR | 56.2 |
Agglomeration & Heap Leaching | 12.4 |
Copper Recovery | 32.1 |
Iron Removal | 1.8 |
Water | 2.8 |
Reagents | 1.6 |
Services | 2.0 |
Sulphuric Acid Production | 22.0 |
Supporting Infrastructure | 2.8 |
First Fill | 6.0 |
Working Capital | 14.0 |
Insurance | 3.3 |
EPCM | 14.0 |
Contingency | 14.0 |
Commissioning | 2.8 |
Accommodation & Temp Services | 2.8 |
Spares & Tools | 1.5 |
Total (US$M) | 191.8 |
Operating Costs
Total operating costs, including capital leases as an operating expense, are estimated in the PEA as US $ 7.79 per tonne of ore processed, broken down as follows:
Table 8: Option 3 operating cost breakdown
Area | Annual Cost
(‘000 USD) |
Unit Cost
(USD/t ROM) |
Unit Cost
(USD/lb CuEq) |
Mining | 19,210 | 2.26 | 0.41 |
Processing | 38,696 | 4.55 | 0.82 |
Product Freight | 2,109 | 0.25 | 0.04 |
Wharfage & Shiploading | 234 | 0.03 | 0.00 |
Administration | 1,700 | 0.20 | 0.04 |
Royalty | 4,224 | 0.50 | 0.09 |
Total | 66,173 | 7.79 | 1.41 |
Note: Mineral Resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates are based on Indicated Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves . However, there is no certainty that these indicated mineral resources will be converted to measured categories through further drilling, or into mineral reserves, once economic considerations are applied. There is no certainty that the preliminary economic assessment will be realized.
Sulphur Burning Plant
The design for each option as it stands involves the burning of sulphur to produce sulphuric acid.
There are several possibilities for sulphuric acid sourcing, including purchasing from smelters within Namibia.
Buying in sulphuric acid at the start of the project life and building a sulphur burning plant once the project is cash flow positive may provide a better economic scenario.
This will allow for the sulphur burning plant capital to be deferred and the payback period to be shortened.
Risks
Aside from the usual risk associated with the advancement of a mineral project towards a production decision, such as metal prices, resource continuity, mineability, construction risk, capital and operating cost risk, the principal risk related to the Haib Copper Project is the confirmation of the heap leaching recovery and sorting technologies used in the PEA, which were based on preliminary testwork completed by University of Witwaterstrand, Mintek, METS and SGS South Africa. Additional testwork is required to confirm and potentially enhance the overall recovery performance of the project.
The major risks identified are detailed in the below list:
1- Insufficient metallurgical testwork has been undertaken.
Sampling of diamond core, ore sorting testwork, comminution, HPGR, heap leach tests are required;
2- Trade off studies are required regarding purchasing sulphur and making acid on site or purchasing sulphuric acid;
3- The optimum port and infrastructure needs further study work;
4- Specific mineralization sorting testwork success will be critical;
5- Variability within the deposit and;
6- Optimised transport routes.
Opportunities
Solar Energy: Given the semi-arid climate of Namibia, a solar energy farm may be an option for reducing the unit cost of power. This will also have positive social impacts for the project, which is expected to have a long life.
Project Expansion :
The resource tonnage allows for possible multiple expansion stages to be executed should the project proceed to once in production. A staged approach is recommended in order to de-risk the project by projecting that the project achieves positive cash flow prior to plant expansions.
Way Forward
The results from the PEA have been promising, going forward METS recommends Deep-South Resources move to conduct a Pre-Feasibility Study (PFS) as the next phase of the project.
Management hopes the outcomes of a Pre-Feasibility Study for the Haib Project will support the following :
- — An assessment of the likely technical and economic viability of the opportunity within a +/- 25% level of accuracy;
- — Optimization of the different mining, process, location and project configurations to determine and recommend the preferred optimum to be engineered during the Pre-Feasibility Study;
- — Evaluation of the project at different capacities;
- — Determination of any fatal flaws in the opportunity;
- — Development of the risk profile of the opportunity in relation to the key business drivers;
- — Determination of the nature and extent of the Work Plan to complete further geological, mining, metallurgical, environmental and marketing work needed to be completed or undertaken during the Feasibility Study;
- — An estimate of the costs, schedule and resources required to complete the Feasibility Study. In addition, an overall project schedule shall be prepared to indicate the overall timing of project implementation, commissioning and start-up, and ramp-up to full production;
- — Identify resources (internal and external) and services required to undertake further work on the opportunity;
- — If a Pilot plant is required, it will be implemented during this stage;
- — Upgrade the mineral resource (if required);
- — Stakeholder considerations and plans;
- — Risk assessment further refined and mitigation plans established and;
- — Environmental assessment to prepare an environmental impact study.
Quality Control and Assurance and data verification
The independent qualified persons for the Haib Copper PEA are Mr. Damian Connelly of Mineral Engineering and Technical Services , Mr. Peter Walker of P & E Walker Consultancy and Mr. Dean Richards of Obsidian Consulting Services.
Obsidian Consulting Services conducted a review of the QA/QC programme implemented by Teck using the certificates of analysis received from Acme Labs and provided by Teck. This review compared the results of field duplicates, blanks as well as the various standards utilised with respect to Cu and Mo.
The design of Teck’s drilling programme, quality assurance / quality control programme and the interpretation of results were under the control of Teck’s geological staff. The QA/QC programme is consistent with industry best practices. Drill core is logged and cut onsite, with half-core samples prepared at Analytical Laboratory Services, Windhoek, Namibia. Prepared samples are shipped to Acme Analytical Laboratories, Vancouver, Canada for appropriate base metal assaying and gold fire assaying techniques. All analytical batches contain appropriate blind standards, duplicates and blanks inserted at regular intervals to independently assess analytical accuracy and precision.
Mr. Walker and Mr. Richards reviewed the sample chain-of-custody, quality-assurance and quality-control (QA/QC) procedures, and the accreditations of analytical laboratories used by Teck. The QPs are of the opinion that the procedures and QA/QC are acceptable to support Mineral Resource estimation.
Mr. Walker also audited the assay database, core logging and geological interpretations and found no material issues with the data as a result of these audits.
In the opinion of the QPs, the data verification programs undertaken on the geological and assay data collected from the Haib Copper support the geological interpretations and the analytical and database quality, and the data collected, can support Mineral Resource estimation.
Qualified Persons
Damian E.G. Connelly, BSc (Applied Science), FAusIMM, CP (Met), Director of Mineral Engineering Technical Services is the main author of the Preliinary Economic Assessment report and is responsible for the technical part of this press release and is the designated Qualified Person under the terms of National Instrument 43-101.
Peter Walker B.Sc. (Hons.) MBA Pr.Sci.Nat. of P & E Walker Consultancy is the main author of the 43-101 resource estimation report, and is a Qualified Person under the terms of National Instrument 43-101.
Mr. Dean Richards Pr.Sci.Nat. , MGSSA – BSc. (Hons.) Geology, of Obsidian Consulting Services is the contributing author of the 43-101 resource estimation report and is a Qualified Person under the Terms of the National Instrument 43-101.
About Deep-South Resources Inc.
Deep-South Resources Inc. is a mineral exploration company largely held by Namibian shareholders and Teck Resources Ltd, which holds about 35% of Deep-South share capital.
Deep-South is actively involved in the acquisition, exploration and development of major mineral properties. Deep-South currently holds 100% of the Haib Copper project in Namibia, one of the largest copper porphyries in Africa. Deep- South’s growth strategy is to focus on the exploration and development of quality assets, in significant mineralized trends, c los e to infrastructure, in politically stable countries.
More information is available by contacting Pierre Leveille, President & CEO at
+1-819-340-0140 or at: info@deepsouthresources.com or
Paradox Public Relations at +1-514-341-0408.
Cautionary statement on forward-looking information
Mineral Resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates are based on Indicated Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves .. However, there is no certainty that these indicated mineral resources will be converted to measured categories through further drilling, or into mineral reserves, once economic considerations are applied. There is no certainty that the preliminary economic assessment will be realized.
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws.
Such statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this release.
As well, all of the results of the 2018 Haib Copper preliminary economic assessment constitute forward-looking information, including estimates of internal rates of return, net present value, future production, estimates of cash cost, assumed long term price for copper of US$3.00 per pound, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, and estimates of capital and operating costs. Furthermore, with respect to this specific forward-looking information concerning the development of the Haib Copper Project, Deep-South Resources has based its assumptions and analysis on certain factors that are inherently uncertain. Uncertainties include among others: (i) the adequacy of infrastructure); (ii) unforeseen changes in geological characteristics; (iii) changes in the metallurgical characteristics of the mineralization; (iv) the ability to develop adequate processing capacity; (v) the price of copper; (vi) the availability of equipment and facilities necessary to complete development; (vii) the size of future processing plants and future mining rates, (viii) the cost of consumables and mining and processing equipment; (ix) unforeseen technological and engineering problems; (x) accidents or acts of sabotage or terrorism; (xi) currency fluctuations; (xii) changes in laws or regulations; (xiii) the availability and productivity of skilled labour; (xiv) the regulation of the mining industry by various governmental agencies; (xv) political factors, including political stability.
All such forward-looking information and statements are based on certain assumptions and analyses made by Deep-South’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices, including the price of copper; unexpected failure or inadequacy of infrastructure, or delays in the development of infrastructure, the failure of exploration programs or other studies to deliver anticipated results or results that would justify and support continued studies, development or operations, and the results of economic studies and evaluations. Other important factors that could cause actual results to differ from these forward-looking statements also include those described under the heading “Risk Factors” in the company’s most recently filed MD&A filed by Deep-South. Readers are cautioned not to place undue reliance on forward-looking information or statements. The factors and assumptions used to develop the forward-looking information and statements, and the risks that could cause the actual results to differ materially are set forth in the “Risk Factors” section and elsewhere in the company’s most recent Management’s Discussion and Analysis report and Annual Information Form, available at www.sedar.com .
This news release also contains references to estimates of Mineral Resources. The estimation of Mineral Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource estimates may have to be re-estimated based on, among other things: (i) fluctuations in copper prices or other mineral prices; (ii) results of drilling; (iii) results of metallurgical testing and other studies; (iv) changes to proposed mining operations, including dilution; (v) the evaluation of mine plans subsequent to the date of any estimates; and (vi) the possible failure to receive required permits, approvals and licences, or changes to any such permits, approvals or licence.
Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
- Published in Deep South Resources Inc.
Tetra Bio-Pharma names Aphria CFO as Chairman of Audit Committee
Momentum Public Relations
Press Release: February 26, 2018
Tetra Bio-Pharma Inc. (“Tetra” or the “Corporation”) (TSX VENTURE:TBP)(OTCQB:TBPMF), announced changes to its Board of Directors (the “Board”) today, including the appointment of Aphria Inc.’s Chief Financial Officer (CFO), Mr. Carl Merton, as Chair of Tetra’s Audit Committee.
In addition to his extensive financial background, Mr. Merton is a Chartered Accountant and has served as a past Chair of both the CICBV and the International Association of Professional Business Valuators. Mr. Merton is currently a member of the Board of Directors and Chair of the Audit Committee of Motor City Community Credit Union.
Mr. Merton has served on the Tetra Board since 2016 and brings over 20 years of financial and business experience to the Audit Committee. He replaces Mr. Robert Brouillette, whose resignation was accepted immediately upon the Board becoming aware that a decision had been rendered by a professional regulatory organization against Mr. Brouillette in relation to professional activities unrelated to his responsibilities as a director of Tetra.
Mr. André Rancourt, Tetra’s Chair, was also named to the Audit Committee. Mr. Rancourt also acts as a consultant on several commercial strategy committees including FIA and IRZC. He has significant practical experience that provided him with expertise in many fields, including human and animal natural health products. Over the last ten years, he worked as a consultant to re-organize the operations of companies on behalf of several venture capital investment funds.
“These appointments further strengthen our corporate governance practices,” said Tetra CEO Bernard Fortier. “Both Mr. Merton and Mr. Rancourt have stellar reputations in the capital market and will continue to provide our management team and our entire Board with support and guidance as we embark on the next stage of our growth.”
About Tetra Bio-Pharma:
Tetra Bio-Pharma (TSX VENTURE:TBP)(OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and clinical development. Tetra is focusing on three core business pillars: clinical research, pharmaceutical promotion and retail commercialization of cannabinoid-based products.
More information at: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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.
Forward-looking statements
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Corporation’s ability to control or predict, that may cause the actual results of the Corporation to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to obtain sufficient financing to execute the Corporation’s business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Corporation’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Corporation’s public disclosure record on file with the relevant securities regulatory authorities. Although the Corporation has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. While no definitive documentation has yet been signed by the parties and there is no certainty that such documentation will be signed The forward-looking statements included in this news release are made as of the date of this news release and the Corporation does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Tetra Bio-Pharma Inc.
Andre Rancourt
Executive Chairman
andre.r@tetrabiopharma.com
(438) 899-7575
- Published in Tetra Bio Pharma, Uncategorized
Relevium Operational Update and Investments for Financial H1 2018
Momentum Public Relations
Press Release: February 28 2018
Relevium Technologies Inc. (TSX VENTURE:RLV)(OTCQB:RLLVF)(FRANKFURT:6BX) (the “Company” or “Relevium”), is reporting on an operational update and areas of investment for financial Q2 2018 (October 1, 2017 to December 31, 2017).
Aurelio Useche, President and CEO of Relevium stated: “The integration, optimization and scale up of BioGanix since acquisition has gone as expected.” Mr. Useche continued: “Operationally we expected a learning curve and expected to overcome all challenges. I think the Operations Team has overcome all challenges and the Company is poised to drive growth in the 2018 calendar year. The e-commerce landscape for nutraceuticals is under constant change and we have been quick on our feet to adapt and maintain sales velocity.”
During the first six (6) months of operating BioGanix, the Company has focused on transitioning the business, accounts and assets. Following the successful transition which lasted until roughly November 1, 2017, the Company built up an internal Operations Team which subsequently set forth to optimize the business predominantly through conceptualization and deployment of the Mach 2.0 Marketing Engine. During this period, the Company did experience a temporary decrease in revenue.
Since October 1, 2017 the Company has invested over CAD $250,000 for building out the infrastructure and acquiring the talent necessary to drive future growth of the BioGanix brand. These investments in technology, people and commercial agreements will also be integral in allowing the Company to execute on the plethora of product and brand launches it has planned for the 2018 calendar year.
The Company expects to launch no less than three (3) new brands and over twenty (20) new products or SKUs in 2018. Launches will begin as soon as March 2018. The Company will provide further detail to this effect in a forthcoming news release.
Mr. Abis Hussain, Senior Marketing Officer of Relevium Technologies: “We are really excited to start launching products. The Company has yet to launch products that fully reflect our collective efforts. The products that we will bring to market this year will really show our ability to find and market exclusive products. Prior to this, everything being marketed was part of the classic line launched by the previous BioGanix team. We believe our true colors and grit are about to shine.”
About Relevium Technologies
Relevium is a TSXV-listed company focused on growth through the acquisition of businesses, products and/or technologies with a focus on e-commerce in the growing health and wellness sector. Relevium Technologies Inc. also holds patented intellectual property for the use of static magnetic fields for application on wearable devices.
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.
Relevium Technologies Inc. has provided further clarifications on its press release from earlier on Feb. 23, 2018.
The company has received several requests from active shareholders to clarify ambiguity in the language of the operational press release from earlier in the day.
Aurelio Useche, president and chief executive officer of Relevium, stated, “The company is very appreciative of the feedback from its shareholders who asked us to provide clarity over the press release.”
The first six months of operations have been successful in all fronts, including sales revenue, which have continued to demonstrate an overall positive direction ahead of previous periods.
The company did highlight in the previous news release a revenue decline, which was in reference to the month of November. The decline was related to product adjustments and changes in marketing costs due to the implementation of the automation process. However, overall revenues for the six-month period were on target.
The following is a summary of the message that was intended by the company to communicate to shareholders:
- The integration, optimization and scale-up of BioGanix since acquisition have been successful and as expected. The transition period included an expected learning curve, and the operating team has done very well in meeting the challenge.
- Sales revenues are on target and ahead of last year’s results by the previous ownership.
- The company has made several important investments, not only to optimize current operations, but also to prepare the team for organic and acquisition-based growth.
The following were also important updates management felt key to convey to its shareholder base:
- The eventual launch of three new brands, the culmination of the successful exclusivity agreements entered into by the company during the reporting;
- The launch of over 20 new products or SKUs (stock-keeping units) in 2018 expected to hit the shelves as soon as March, 2018.
Management looks forward to reporting Q2 2018 financial results next week.
- Published in Relevium Technologies