Enforcer Gold samples 510.79 g/t Au at Montalembert
Enforcer Gold samples 510.79 g/t Au at Montalembert
– Momentum Public Relations –
Press Release: March 30, 2017
Enforcer Gold Corp. has released metallic sieve assay results from the October, 2016, channel sampling campaign on the Galena vein and vein No. 2.
The assaying process originally employed and reported in press release dated Jan. 20, 2017, was widely used and an industry standard fire assay technique with atomic absorption finish on a 30-gram sample. Usually, if gold results are greater than one gram per tonne, the laboratory will reanalyze the sample with fire assay and gravimetric finish. Even if this method is good up to 1,000 g/t gold, it does not perform well with the high nugget effect as is often the case at Montalembert. When visible gold is observed, or when high-grade gold is suspected, the metallic sieve method is a preferred assay technique.
Nine samples were selected for reanalysis using metallic sieve techniques. The results are found in the attached table.
SAMPLING REANALYSIS Sample ID Sample type Interval Original assay -- New assay -- (m) gravity finish metallic sieve Au (g/t) Au (g/t) D110069 Channel 1 438.225 510.79 D110059 Channel 1 119.935 118.79 D109952 Channel 1 39.345 40.23 D109955 Channel 1 8.88 11.13 D110103 Channel 1 5.59 108.21 D109580 Channel 1 5.07 9.47 D109891 Channel 1 4.56 4.28 D110102 Channel 1 3.84 6.6 D110122 Channel 1 1.58 1.81
Steve Roebuck, chief executive officer of Enforcer Gold, stated: “We are very encouraged by the results of the samples selected for the metallic sieve analysis technique. Seven of the nine samples increased in grade while two decreased. The most remarkable increase came from sample ID No. D110103, which increased from 5.59 g/t gold to 108.21 g/t gold, or 1,835 per cent. It was very important that we made this discovery now before the summer exploration program commences as we now know that assaying around the high-grade gold Galena vein and vein No. 2 needs to include metallic sieve assaying techniques. It is a more expensive process, but the higher-quality results clearly demonstrate that the additional costs are warranted.”
A description of the typical procedure is as follows: metallic sieve is able to overcome the nugget effect of gold by increasing the subsample size to 1,000 grams and physically collecting the free gold within the system using a 100-mesh sieve. The subsample is pulverized to about 90 per cent minus 100 mesh and subsequently sieved through a 100-mesh (106 micron) screen. The entire plus-100 metallic portion is assayed along with two duplicate subsamples of the minus 100 pulp portion. Results are reported as a weighted average of gold in the entire sample.
About Enforcer Gold Corp.
Enforcer Gold is earning a 100-per-cent interest in the 7,300-square-hectare high-grade Montalembert gold project located west of Chibougamau in Quebec’s prolific Abitibi greenstone belt. The project is very well situated only five kilometres from a paved highway, and hydroelectric power and easy access to skilled labour, fuel, food and accommodation it make exploration costs extremely low.
Two recent channel sample assays from the Galena vein, taken 20 metres apart along strike length, assayed 510.79 g/t Au over one metre and 118.79 g/t Au over one metre. Enforcer Gold has committed over $2.2-million to finance its 2017 exploration program, which includes: data compilation, ground and airborne geophysics, stripping of overburden, mapping, prospecting, channel sampling, and reverse circulation and diamond drilling.
Technical
Activation Laboratories Ltd. of Ancaster, Ont., and Laboratoire Expert Inc. of Rouyn-Noranda, Que., were the labs that performed the metallic sieve analysis.
The technical content of this news release was reviewed, verified and approved by Donald Theberge, PEng, MBA, the company’s qualified person as defined by National Instrument 43-101.
© 2017 Canjex Publishing Ltd. All rights reserved
- Published in Enforcer Gold Corp, Mining, News Home
Enforcer Gold Begins Very High Resolution Areomagnetic Survey at the Montalembert Gold Project
Enforcer Gold Begins Very High Resolution Areomagnetic Survey at the Montalembert Gold Project
– Momentum Public Relations –
Press Release: March 28, 2017
Enforcer Gold Corp. has commenced its very-high-resolution aeromagnetic survey over the entire high-grade Montalembert gold project using Geotech’s HeliGrad-VLF EM triaxial gradiometer system.
Steve Roebuck, Enforcer Gold’s chief executive officer, stated: “The helicopter-borne program has just commenced and, weather permitting, should be completed in about a week. The detailed information will be a major tool used by Enforcer Gold’s exploration team to map out detailed folding, shearing and faulting in this structurally controlled high-grade gold project.”
The historical geophysical surveys conducted at the Montalembert gold project form a patchwork of different techniques done over the years by many different operators at variable line spacings and only in select areas. By choosing Geotech’s HeliGrad system, the company will have a large reliable data set that allows it to see the big-picture geological story, the important structures and select key exploration targets to follow up on the confidence that the geophysics have been done properly right from the start.
About Enforcer Gold Corp.
Enforcer Gold is earning a 100-per-cent stake in its 7,300-square-hectare high-grade Montalembert gold project located 120 kilometres west of Chibougamau in the prolific Abitibi greenstone belt of central Quebec. Recent channel sample assays (see news release dated Jan. 20, 2017) from the Galena vein included 438.23 grams per tonne gold over one metre and 119.94 grams per tonne Au over one metre. A very-well-financed exploration program has commenced and will include: data compilation, ground and airborne geophysics, stripping of overburden, mapping, prospecting, channel sampling, and reverse circulation and diamond drilling.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Enforcer Gold Corp, Mining, News Home
Enforcer hires Geotech for Montalembert airborne survey
Enforcer hires Geotech for Montalembert airborne survey
– Momentum Public Relations –
Press Release: March 21, 2017
Enforcer Gold Corp. has selected Geotech Ltd. of Aurora, Ont., to conduct a very high-resolution aeromagnetic survey over the entire high-grade Montalembert gold project using Geotech’s HeliGrad triaxial aeromagnetic gradiometer system.
Steve Roebuck, Enforcer Gold’s chief executive officer, states: “We are very pleased to be working with Geotech, a Canadian and global leader in airborne geophysics. The helicopter-borne survey, set to commence in the coming days, will be flown close to the ground with a very tight 50-metre line spacing. The new high-resolution magnetic plus VLF-EM [very low-frequency electromagnetic] data will be a key tool used by Enforcer Gold’s exploration team to map out folding, shearing and faulting in detail in this structurally controlled gold project.”
The historical geophysical surveys conducted in the past over the Montalembert project form a patchwork of different methods, line spacings and line orientations, and cover only part of the current property. Upon completion of the planned survey, the company will have a uniform, modern data set that allows it to better visualize property-scale geology, to understand and locate important structures controlling gold mineralization, and to rapidly and effectively generate exploration targets. The company will update the market as final plans are completed and the survey is commenced.
About Enforcer Gold Corp.
Enforcer Gold is earning a 100-per-cent stake in the high-grade Montalembert gold project located approximately 120 kilometres west of Chibougamau, Que., and 10 kilometres northwest of the village of Waswanipi.
Recent channel sample assays (please see news release dated Jan. 20, 2017) from the Galena vein included 438.23 grams per tonne gold over one meter and 119.94 grams per tonne Au over one metre.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Enforcer Gold Corp, Mining, News Home
Natan Resources (NRL:tsxv) Announce Channel Samples Assay up to 438.23 gpt Gold
Montalembert: Channel Samples Assay up to 438.23 gpt Gold
– Momentum Public Relations –
Press Release: January 20, 2017
ROUYN-NORANDA, QUÉBEC–(Marketwired – Jan. 20, 2017) -NATAN RESOURCES LTD (TSX VENTURE:NRL)(FRANKFURT:N071) and GLOBEX MINING ENTERPRISES INC.(TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) are pleased to provide shareholders with an update as regards channel sampling undertaken on the Montalembert Gold Property located near Waswanipi, Quebec.
In October 2016, a total of 208 channel samples were collected ranging from 0.5 m to 1.35 m in length, averaging 0.97 metre.
- 122 samples were taken in 25 channel lines on the Number 2 vein system with channels being spaced 3 metres apart;
- 64 samples were taken in 16 channel lines on the Galena vein system with channels being spaced 10 metres apart;
- 11 samples were taken on a stripped area between the Number 2 vein system and the Galena vein system as were 11 samples on a similar stripped area 60 m to the south.
The mineralization on the Montalembert gold property consists of coarse free gold in or near quartz vein systems. The veins were stripped and power washed to facilitate detailed mapping and subsequent channel sampling. Channel sampling of free gold occurrences is a hit or miss process due to the erratic distribution of coarse free gold in quartz vein systems.
Numerous anomalous gold values were received from the vein systems with the best assays listed below.
Vein System # 2
Four out of five channel samples over a 12 m strike length assayed as follows:
Sample # | Au gpt | Ag gpt | Width |
D109955 | 8.88 | 2.6 | 0.75 |
D109952 | 39.35 | 14.4 | 1.10 |
D109580 | 5.07 | July 2016 channel not analysed for silver | 0.95 |
D109891 | 4.56 | 1.8 | 0.9 |
Previous grab samples in the area assayed 84.04 gpt Au (ID# D107317), 36.26 gpt Au (ID# D107315) and 17.26 gpt Au (ID# D107311).
Grab sample, ID# D107447, taken 27 m north of the grouping of gold values reported above, assayed 64.48 gpt Au. Of the Vein #2 channel samples, 16.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} returned assays over 0.1 gpt Au.
Galena Vein System
The Galena Vein is where historical trenching over a near continuous strike of 123 m, an average width of 0.65 m and an average depth of 0.6 m in 78 samples weighing approximately 3.6 kg each averaged 20.8 gpt Au(28.9 gpt Au uncut) were reported by Rochelom Mines Ltd. in 1974.
A channel sample, ID# 110059, taken where Globex grab samples previously showed coarse visible gold, assayed 119.94 gpt Au and 14.5 gpt Ag over a width of 1 m. With the two adjoining samples, the three continuous samples averaged assayed 40.32 gpt Au and 5.02 gpt Ag over 3 m.
A channel sample, ID# D110069, taken 18 m to the south of the 40.32 gpt Au over 3 m contained coarse visible gold and assayed 438.23 gpt Au and 145.2 gpt Ag over 1 m, the highest single assay in the current sampling program.
Two consecutive channel samples, ID# D110102 and D110103, taken 62 m further to the south averaged 4.64 gpt Au over 1.65 m. Near the south end of the Galena stripping, channel sample, ID# D110122, assayed 1.58 gpt Au over 0.9 m. The Galena vein has a high gold background with 40.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the samples averaging over 0.1 gpt Au.
Other
No high grade gold assays were reported from the two stripped areas that cover a portion of the ground between the two gold bearing vein systems. Only a portion of the exposed rock was channel sampled.
Conclusion
Considering the erratic distribution of the coarse gold mineralization observed on surface, the channel sampling succeeded in confirming a significant set of gold bearing vein systems (Galena and Number 2). Typically in such vein systems, the preferred and more definitive manner to define the average gold grade and the economic potential is to do a bulk sample which would provide a large enough volume to more closely reflect the grade and potential of the vein systems.
Natan is studying the channel results along with the recent grab sampling, historical trenching, detail mapping and geophysical surveys in order to design the next phase of exploration. Natan is well financed recently having raised $4 million.
The channel samples were assayed at Laboratoire Expert in Rouyn-Noranda, Quebec using standard fire assay methods. A strict quality assurance/quality control program was applied to all samples, which includes insertion of mineralized reference materials or blank samples or duplicates for each batch of 20 samples. The gold analyses were completed by fire assay with an atomic absorption finish on 30 grams of materials. Repeats were carried out by fire assay followed by gravimetric testing on each sample containing one gpt gold or more.
Note: Grab samples are selective by nature and are unlikely to represent average grades. Channel samples, on the other hand, are not selective by nature, the same as drill holes are not selective.
The Montalembert property was optioned to Natan by Globex. (See Natan and Globex press releases dated November 17, 2016 for details)
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 the release.
This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
We Seek Safe Harbour.
Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Natan Resources Ltd (Natan) and Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex and Natan will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
info@globexmining.com
Steve Roebuck,P.Geo
President & CEO
Natan Resources Ltd
info@natanresources.ca
- Published in Enforcer Gold Corp, Mining, News Home
Natan Resources Announces Closing of $4 Million Brokered Financing
Kelowna, British Columbia (FSCwire) – Natan Resources Ltd. (“Natan” or the “Company”) (TSX-V: NRL) is pleased to announce that it has completed its previously announced brokered private placement for total gross proceeds of $4,000,000 (the “Offering”). Pursuant to the terms of an agency agreement (the “Agency Agreement“) among the Company and First Republic Capital Corporation (the “Agent”) dated December 21, 2016, the Company issued: (a) 8,996,250 subscription receipts (each a “Subscription Receipt”), at a price of $0.20 per Subscription Receipt, for proceeds of $1,799,250; and 8,803,000 “flow-through” common shares (each a “FT Share”), at a price of $0.25 per FT Share, for gross proceeds of $2,200,750. Garfinkle Biderman LLP acted as legal advisor to the Agent.
The gross proceeds of the sale of the Subscription Receipts less certain expenses of the Agent (the “Escrowed Proceeds“) will be held in escrow on behalf of the subscribers by an escrow agent. Upon satisfaction of the escrow release conditions, which includes among other things, the Company having received all approvals of the TSX Venture Exchange to acquire the Montalembert property from Globex Mining Enterprises Inc., each Subscription Receipt shall be automatically exchangeable into units (“Units”) of the Company, on the basis of one Unit for each Subscription Receipt. Each Unit will consist of one common share and one-half of one common share purchase warrant (“Warrant”), with each Warrant being exercisable to acquire one common share of the company at a price of $0.30 for a period of 24 months following the closing date of the Offering.
The proceeds from the sale of FT Shares will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) and will be renounced for the current taxation year.
In connection with the Offering, the Agent and members of the selling group received a cash commission equal to 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the gross proceeds of the Offering, brokers warrants (“Brokers Warrants”) exercisable to acquire that number of Units of the Company equal to 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate number of Subscription Receipts sold under the Offering, at an exercise price of $0.20 per Unit until December 21, 2018, and brokers warrants (“FT Brokers Warrants”) exercisable to acquire that number of common shares of the Company equal to 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate number of FT Shares sold under the Offering, at an exercise price of $0.25 per share until December 21, 2018. Additionally, the Agent received a corporate finance fee representing 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the gross proceeds raised in the Offering and that number of Brokers Warrants equaling 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the number of Subscription Receipts Sold and FT Brokers Warrants equaling 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the FT Shares sold in the Offering.
All of the securities issued in connection with the Offering are subject to a hold period expiring on April 22, 2016.
The Company intends to use the proceeds of the financing for exploration on the high-grade Montalembert Gold project located in Quebec’s prolific Abitibi greenstone belt and for general working purposes.
For further information regarding this news release contact:
Steve Roebuck, CEO
Tel: (905) 741-5458 or by email at geostever@hotmail.com
or
Anthony J. Durkacz, Executive Vice-President First Republic Capital Corporation
Tel: (647) 350-6288
On behalf of the Board of Directors
Natan Resources Ltd.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of our management on the date the statements are made. Natan Resources Ltd. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/NatanDec232016.pdf
Source: Natan Resources Ltd. (TSX Venture:NRL)
- Published in Enforcer Gold Corp, Mining, News Home
Natan Resources Ltd Announces Increase of Brokered Private Placement to 4Million
Natan Resources Ltd Announces Increase of Brokered Private Placement to 4Million
– Momentum Public Relations –
Press Release: December 07, 2016
Mr. Steve Roebuck reports
In consultation with First Republic Capital Corp., lead agent to the financing, Natan Resources Ltd. has expanded its brokered private placement as previously announced on Nov. 18, 2016. Pursuant to the offering, the company now intends to issue: 10 million subscription receipts, at a price of 20 cents per subscription receipt, for total gross proceeds of $2-million; and eight million flow-through shares, at a price of 25 cents per flow-through share, for total gross proceeds of $2-million.
Each subscription receipt is automatically exchangeable into units of the company, on the basis of one unit for each subscription receipt, upon the occurrence of certain events, including without limitation, the company having received all approvals of the TSX Venture Exchange to acquire the Montalembert property from Globex Mining Enterprises Inc.
Each unit will consist of one common share and one-half of one common share purchase warrant, with each warrant being exercisable to acquire one common share of the company at a price of 30 cents for a period of 24 months following the closing date of the offering.
In connection with the offering, the agent will be entitled to a corporate finance fee in an amount equal to 2 per cent of subscription receipts and flow-through shares sold and a sales commission of 7 per cent of the aggregate gross proceeds of the subscription receipts and flow-through shares sold. Additionally, the company will issue to the agent corporate finance options entitling the agent to purchase a number of common shares equal to 2 per cent of the aggregate number of subscription receipts and flow-through shares sold and selling compensation warrants entitling the agent to purchase a number of common shares equal to 7 per cent of the aggregate number of subscription receipts and flow-through shares sold, at an exercise price equal to the offering price for 24 months following the date of closing the offering.
Completion of the offering is subject to receipt of TSX Venture Exchange approval and other requisite approvals. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after date of issuance.
The proceeds from the sale of flow-through units will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) and will be renounced for the current taxation year.
- Published in Enforcer Gold Corp, Mining, News Home
Natan Resources Announces Brokered Private Placement of a Minimum of $3,000,000
Kelowna, British Columbia (FSCwire) – Natan Resources Ltd. (“Natan” or the “Company”) (TSX-V:NRL) is pleased to announce that it has retained First Republic Capital Corporation (the “Agent”) to act as agent in connection with a best efforts brokered private placement to raise gross proceeds of a minimum of $3,000,000 (the “Offering”). Pursuant to the Offering, the Company intends to issue: (a) 10,000,000 subscription receipts (the “Subscription Receipts”), at a price of $0.20 per Subscription Receipt, for total gross proceeds of $2,000,000; and (b) 4,000,000 flow-through shares (“FT Shares”), at a price of $0.25 per FT Share, for total gross proceeds of $1,000,000.
Each Subscription Receipt is automatically exchangeable into units (“Units”) of the Company, on the basis of one Unit for each Subscription Receipt, upon the occurrence of certain events, including without limitation, the Company having received all approvals of the TSX Venture Exchange to acquire the Montalembert property from Globex Mining Enterprises Inc.
Each Unit will consist of one common share and one-half of one common share purchase warrant (“Warrant”), with each Warrant being exercisable to acquire one common share of the company at a price of $0.30 for a period of 24 months following the closing date of the Offering.
In connection with the Offering, the Agent will be entitled to a corporate finance fee in an amount equal to 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of Subscription Receipts and FT Shares sold and a sales commission of 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate gross proceeds of the Subscription Receipts and FT Shares sold. Additionally, the Company will issue to the Agent corporate finance options (“Compensation Options”) entitling the Agent to purchase a number of common shares equal to 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate number of Subscription Receipts and FT Shares sold and selling compensation warrants entitling the Agent to purchase a number of Common Shares equal to 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate number of Subscription Receipts and FT Shares sold, at an exercise price equal to the Offering price for 24 months following the date of closing the Offering.
Completion of the Offering is subject to receipt of TSX Venture Exchange approval and other requisite approvals. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after date of issuance.
The proceeds from the sale of flow-through units will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) and will be renounced for the current taxation year.
For further information regarding this news release contact:
Steve Roebuck, CEO
Tel: (905) 741-5458 or by email at geostever@hotmail.com
or
Song Lee, Associate, First Republic Capital Corp
Tel: (416) 957-6300 or by email at song@firstrepubliccapital.com
On behalf of the Board of Directors
Natan Resources Ltd.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of our management on the date the statements are made. Natan Resources Ltd.. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Natan11182016.pdf
Source: Natan Resources Ltd. (TSX Venture:NRL)
- Published in Enforcer Gold Corp, Mining, News Home
Natan Resources Announces Option Agreement with Globex Mining Enterprises to Acquire the Montalembert Gold Project
Kelowna, British Columbia (FSCwire) – Natan Resources Ltd. (“Natan” or the “Company”) (TSX-V:NRL) is pleased to announce that it has entered into an Option Agreement (the “Agreement”) with Globex Mining Enterprises Inc. (“Globex”) (TSX: GMX, G1M- Frankfurt, GLBXF-OTCQX International), a company listed on the Toronto Stock Exchange. The Agreement grants Natan the right to acquire a 100 percent interest in the 58 cell, 3,183 hectare Montalembert Gold Property, located approximately 100 kilometres southwest of Chibougamau in the Abitibi mining district of Quebec. The Agreement is subject to acceptance by the TSX Venture Exchange.
Steve Roebuck, President and CEO of Natan comments,
“The Montalembert property is a high-quality gold project that will immediately become the cornerstone asset for Natan Resources. Our recent site visit confirmed the presence of visible gold in multiple locations along the well-exposed parallel vein structures named the Galena vein and Vein No. 2. This is a rare find; an under-explored gold-rich project within 5 kilometres of a paved highway in Quebec. The location has significant logistical advantages as year-round road access to the Project will ensure cost efficiency at the exploration phase. We plan to aggressively explore the project beginning in the spring of 2017.”
The Montalembert Gold Property has historical and recently reported high grade gold visible in outcrop on surface and reported in historical shallow drill holes. Recent stripping completed by Globex has exposed the gold bearing quartz vein systems along with occurrences of coarse native gold. See Globex press releases dated September 9, 2015, November 12, 2015 and October 24, 2016 for information on historical and some more recent exploration on the property.
Terms of the Option
Pursuant to the Agreement, Natan shall have the option to earn an undivided 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} right, title, and interest in the Property (the “Option”), subject to the Gross Metal Royalty, by making aggregate cash payments to Globex of $2,700,000, issuing an aggregate of 8,500,000 common shares and incurring aggregate exploration expenditures of $15,000,000 on the Property as follows:
- Paying $2,700,000 in cash to Globex as follows:
$300,000 on or before December 31, 2016;
$300,000 on or before December 31, 2017;
$600,000 on or before December 31, 2018;
$1,500,000 on or before December 31, 2019;
- Issuing 8,500,000 common shares of Natan to Globex as follows:
1,500,000 common shares on or before the tenth business day after TSX Venture Exchange
acceptance of this Option Agreement but no later than December 31, 2016;
2,000,000 common shares on or before December 31, 2017;
2,000,000 common shares of on or before December 31, 2018;
3,000,000 common shares of on or before December 31, 2019;
- Incurring aggregate exploration expenditures of $15,000,000 on the Property as follows:
$1,000,000 in exploration expenditures to be completed on or before December 31, 2017;
An additional $1,000,000 in exploration expenditures to be completed on or before December 31, 2018;
an additional $4,000,000 in exploration expenditures to be completed on or before December 31, 2019;
an additional $4,000,000 in exploration expenditures to be completed on or before December 31, 2020;
an additional $5,000,000 in exploration expenditures to be completed on or before December 31, 2021;
The cash and share payments to be made by Natan prior to December 31, 2017 and the exploration expenditure to be incurred prior to December 31, 2018, are firm commitments and must be made even in the event that Natan terminates this Option Agreement and chooses not to exercise the Option.
Notwithstanding the foregoing, at any time following the 2nd anniversary of the Effective Date of this Option Agreement, the exploration expenditures may be deferred for up to 12 months (resulting in all subsequent exploration expenditure requirements to be deferred 12 months) in the event that both: (i) the London spot price for Au is less than $1200 US per troy ounce for 30 consecutive days, and (ii) Natan has less than $1 million CDN funds in its treasury. In the event that exploration expenditures are deferred as contemplated hereby, Natan shall be obligated to pay to Globex a penalty of $150,000 in cash and issue to Globex 1,000,000 common shares of Natan within 10 business days of providing notice to Globex of such deferral of exploration expenditures.
Due to the high grade nature of the potential ore from the Property, Globex shall retain a three and one-half percent (3.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) Gross Metal Royalty (GMR) on all recovered metals and minerals produced from the Property, with a six percent (6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) GMR on the first 150,000 ounces of each of gold and silver recovered from the Property.
In connection with signing of the Agreement, the Company has entered into a finder’s fee agreement which provides for a fee payable on any transaction completed between the Company and Globex. The payment of the finder’s fee on this transaction is subject to acceptance by the TSX Venture Exchange.
The technical information within this document has been reviewed and approved by Mr. Steve Roebuck, P. Geo. and CEO of Natan Resources. Mr. Roebuck is a qualified person as defined in NI 43-101.
For further information regarding this news release contact:
Steve Roebuck, CEO
Tel: (905) 741-5458 or by email at geostever@hotmail.com
On behalf of the Board of Directors
Natan Resources Ltd.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of our management on the date the statements are made. Natan Resources Ltd.. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/NatanNov172016.pdf
Source: Natan Resources Ltd. (TSX Venture:NRL)
- Published in Enforcer Gold Corp, Mining, News Home
Natan Resources Announces Appointment of New President & CEO
Kelowna, British Columbia (FSCwire) – Natan Resources Ltd. (“Natan” or the “Company”) (TSX-V:NRL) is pleased to announce the appointment of Steve Roebuck as President, Chief Executive Officer, and Director of the Company effective immediately. In connection with the appointment of Mr. Roebuck, Michael Blady has resigned as President and CEO of Natan to pursue other business opportunities; however, Mr. Blady will remain a Director of the Company. The Company would like to thank Mr. Blady for his contributions as CEO and is grateful to retain him in a directorial capacity.
About Steve Roebuck
Mr. Roebuck is a professional geoscientist having begun his career in 1995 working for Royal Oak Mines as an exploration and production geologist at the Giant, Colomac and Matchewan gold mines in Ontario and the Northwest Territories (NT). In 2000, he joined BHP Billiton Diamonds Inc. as a production geologist and later promoted to production engineer at the Ekati Diamond Mine in NT. From 2005 to 2007 he was Vice President of Exploration for Forest Gate Resources Inc., exploring diamond properties in Quebec and Saskatchewan. From 2008 until 2012, Steve was Vice President of Exploration for Advanced Explorations Inc., working with the feasibility study team for the Roche Bay Iron Ore project in Nunavut and assessing multiple base and precious metal projects throughout South America. In 2012 Steve joined Scorpio Gold Corporation, a 40,000 ounce per year gold producer with assets in Nevada, working in the role of President where he was responsible for corporate matters that included investor relations and business development.
About Natan Resources
Natan is a junior exploration company focused on the development of projects located in the Province of Québec. Currently the Company is exploring the 2459 ha. Duval Property which is located approximately 300 km north of Chibougamau, Quebec, Canada. It is contiguous and directly on trend with Nemaska Lithium Inc.’s 27.3 M tonne proven + probable Whabouchi Deposit.
The Company is currently reviewing additional Quebec-based exploration projects which vary in their respective stages of exploration, and include lithium, gold and other mineral targets.
For further information regarding this news release contact:
Steve Roebuck, CEO
Tel: (905) 741-5458 or by email at geostever@hotmail.com
On behalf of the Board of Directors
Natan Resources Ltd.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of our management on the date the statements are made. Natan Resources Ltd. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Natan11102016_0.pdf
Source: Natan Resources Ltd. (TSX Venture:NRL)
- Published in Enforcer Gold Corp, Mining, News Home