RIO SILVER ANNOUNCES CLOSE OF PRIVATE PLACEMENT
Rio Silver Inc. has closed the first tranche of its previously announced non-brokered private placement for gross proceeds of $264,400.
Upon the completion of the first tranche of the financing, the company issued 5,288,000 units at a price of five cents per unit. Each unit consists of one common share and one transferable share purchase warrant. Each whole warrant is exercisable into one additional common share of the company at a price of 10 cents per share until March 11, 2022.
The company paid finders’ fees of $4,000 in cash and issued 80,000 broker warrants, with each such broker warrant entitling the holder thereof to acquire one common share of the company at a price of 10 cents per share until March 11, 2022.
Proceeds from the financing will be used to advance the company’s Ninobamba silver and gold project in Peru by regaining social licence within the local district, for working capital, and to explore potential precious metal projects in Peru that offer near-term revenue potential and other working capital purposes.
The securities issued under the financing will be subject to a statutory hold until July 11, 2020.
About Rio Silver Inc.
Rio Silver is a Canadian-based resource company with a mandate to acquire, explore and develop precious metal deposits in the Americas. Rio Silver’s experienced Peruvian exploration team is instrumental in planning and conducting the work program at its 100-per-cent-owned flagship property, Ninobamba in Peru. Management continues to add shareholder value through effective and efficient exploration, strategic property acquisitions, and sound financial management.
- Published in Gold, Mining, News Home, Rio Silver
Rio Silver Inc. (CVE: RYO) Banks On Two Projects For Long Term Growth
Rio Silver Inc. (CVE: RYO) is not your typical exploration and mining company. Headquartered in Vancouver, Canada, the company has set sights on several prospective mining projects in Peru as part of its growth strategy. Its core business revolves around the advancement of exploration precious metals, primarily Silver along with Gold at its principle holdings in south central Peru.
Rio Silver Flagship Projects
Ninobamba Silver Project
Ninobamba Silver Project is the company’s flagship project located in a renowned silver and gold belt 330 kilometers south of Lima in Peru. Sitting on 3,933 hectares, the prospective project is best known more for silver than gold deposits. Rio Silver has rights to the silver project through its subsidiary Minera Rio Plata that owns 100% of the mineral rights.
Rio Silver is not the first company to purse precious metals, among other minerals, at the Ninobamba Silver project. AngloGold Exploration has already explored the field, focusing on an area with an intense hydrothermal surface alteration.
AngloGold company drilled five core holes totaling 861 meters. Previous assay results indicated prospects of 87 grams per ton silver over 130 meters drill interval. Bear Creek Mining, Newmont Mining Corp., and Southern Peru Copper Corp are some of the other companies that have carried out significant exploration operations at the project in addition to contributing millions in metallurgical and processing studies once the initial exploration data had been compiled.
The previous exploration programs have provided Rio Silver with data that has indicated 2 large silver and gold mineralized deposits resulting in highly prospective silver/gold targets for economic feasibility. Mineralization data has so far shown potential for outcropping as well as bulk tonnage at depth.
Previous samples taken have also shown prospects of mineralization at the North Zone of the Ninobamba Silver project covering 400 meters. Furthermore, trenching has uncovered silver mineralization for an additional 400 meters in the South Zone of the project. Resource potential reports for the area are next in line after these encouraging developments and a complete review of the over $10 million of historic work combined with computer modelling of all the compiled data existing to date for both the NinoBamba and neighboring Jorimina mineralized deposits, never before held by only one company.
The company has had earn-in joint venture partners in the past but Rio Silver has since moved on with the project and is planning to initiate the permitting process as it seeks to commence the first phase drill program at the prospective Ninobamba Silver/Gold project on their own, increasing the company’s value proposition.
To be Announced:
With additional goals of sustainability, the company is advancing certain initiatives soon to be concluded with news expected in the coming quarter.
Gerow Lake Project is a prospective copper-gold prospect that Rio Silver owns in Gerow Lake, Ontario, Canada. The company acquired rights to the 3,456 hectare mining property in 2006, buoyed by the potential for copper-gold mineralization. The staking of an additional 5,312 hectares, as well as the reconsolidation of a partners’ interest in 2009, resulted in the company controlling 100% interest in the prospect.
Rio Silver has already completed an airborne geophysical survey of the Gerow Lake Project. It is currently conducting consultation with stakeholders made up of MNDM and local First Nations as it seeks permission for plans to advance this exciting discovery. Exploration work will only commence upon the company reaching an agreement with all stakeholders.
Recent Developments
In the recent past, Rio Silver has carried out a capital raise drive through a non-brokered private placement of 10 million units made up of the company’s shares. Priced at $0.05 a unit, the company went on to raise $500,000 in gross proceeds.
The capital raise drive came as the company sought additional funds to continue works at the Ninobamba silver and gold project in Peru as well as new initiatives within Peru. Part of the funds will also go towards financing immediate financial obligations as well as for working capital and other new projects in Peru. The private placement comes hot on the heels of Rio Silver also settling an aggregate of $80,503 of debt through the issuance of 1.6 million common shares in the second quarter of the year.
Bottom Line
Rio Silver’s turnaround has started gathering pace after the stock hit the $0.025 mark earlier. Amidst this base line, Rio Silvers’ recent price activity has indicated the stock is on an upward momentum and gaining investor confidence. The bounce-back can be attributed to investors taking note of the company’s tremendous potential backed by prospective mining projects.
The future can only be bright for Rio Silver as it brings its flagship Ninobamba silver and gold property to fruition with the cash injection of $574,000 recently raised through an oversubscribed private placement program as well as advance plans for the Gerow Lake asset in Ontario, Canada.
https://www.riosilverinc.com/peru.php
https://www.riosilverinc.com/gerow_lake.php
https://www.riosilverinc.com/pdfs/Ninobamba-2017-Program.pdf
https://www.riosilverinc.com/pdfs/Rio-Silver-Announces-Private-Placement-Sep-2-2019.pdf
https://www.riosilverinc.com/pdfs/Rio-Silver-Completes-Shares-for-Debt-Transaction-Apr-18-2019.pdf
https://www.riosilverinc.com/pdfs/Rio-Silver-and-Norsemont-II-Agree-to-Terminate-LOI-Feb-22-2019.pdf
- Published in Mining, News Home, Rio Silver
‘Rock stars’ recharge the diamond industry
Exciting discoveries by Arctic Star geologists Buddy Doyle and Roy Spencer
Why haven’t we seen a major diamond discovery since the 1990’s? What does it take for the industry to find diamonds in today’s conditions? Truth is, the sector has been slowly dying since the 2008 global financial crisis, with only a limited number of diamond mines around the world still operating.
Many diamond mines have dropped out or are projected to change course because of funding issues. The Argyle Mine in Western Australia, the largest producer of diamonds by volume, is expected to close in 2020. Similarly, Siberia’s Mir mine, one of mankind’s largest excavated holes recently closed – leaving a nice opportunity in the diamond sector.
This unsteady market has created an influx of junior companies rushing to enter the sector with very little capital and limited experience.
Not a good idea. To find diamonds you need know-how coupled with funds. In the diamond industry, that’s almost as rare as finding a diamond in the rough.
The sad reality is that most juniors jump in with high hopes of finding something valuable, convince the fundraisers that they’re are sitting on a good thing, then crash and burn after the money runs out.
The lack of major diamond discoveries in the past three decades has weakened the industry’s confidence and markets. A major world-class discovery is needed to recharge the sector. And Arctic Star Exploration (ADD.V) may have the golden key…and the diamonds!
With a 100% fully paid up property, the company is led by world-class geologists Buddy Doyle and Roy Spencer. This dynamic duo has 68 years’ combined experience under their tool belts, not to mention some major discoveries.
During the mid-90s. Doyle led the team that discovered the Diavik diamond deposits in northern Canada – a mine that produces 7 million carats of diamonds annually. Around the same time, Spencer, a De Beers veteran, helped discover the multi-billion-dollar Grib kimberlites in northwest Russia, one of the world’s largest deposits.
In 2003, he also discovered the Lentiira kimberlite cluster in central Finland, located 450km SE from Arctic Star’s 243-hectare Timantti exploration.
The 3 Wolves – a howling success
Arctic Star Exploration is currently pulling kimberlites and diamonds out of the ground in three areas sitting 300 meters apart (The 3 Wolves). This kimberlite cluster was found by using ground geophysics, then excavator till sampling, which included including 20 samples of 50 metric pounds, approximately 600 meters deep. The find yielded four diamond-bearing kimberlites. Bingo!
Kimberlites are likely to occur in fields, which commonly contain 30 or more separate kimberlites so it is likely there are more kimberlites to come.
This all shows strong possibilities.
The Wolf kimberlites are just the first discoveries in a more extensive cluster. Arctic Star tested the quality of the diamonds as well. They found one of the Wolves (White Wolf) especially exciting, yielding approximately 7 carats/T and 60% white stones (anything over 30% is good). A larger sample is needed for a more accurate result, but these random micro-tests are looking excellent.
On the capital market side, ADD.V closed at .085 cents on March 25th, an extremely fair price for a potential discovery of this calibre. Considering last week’s 27% increase mid-week, it seems that today’s sophisticated diamond investors are finally realizing the potential of this opportunity. If we were in the 1990s, when consumer confidence was high, this stock would surely have been around the $3 mark.
Also impressive is the impact on the stock market of a fully-paid property with a strong discovery potential. That means the mine is ready to pay out now. No debt overhang for the infrastructure, or years of exploring. Plus, of course, 100% owned property means 100% paid property and profits are the next step.
While these discoveries unfold, the stock is not going to stay at .085 cents for long. We may find that we’re not only sitting on a diamond mine, but also a golden stock.
Arctic Star’s discovery is just what the diamond industry needs to bring back investment confidence. Not only could we find amazing rare gems to bring to market, but the way is also open for the next world-class discovery to stimulate the diamond industry.
Thanks Buddy and Roy.
Disclaimer:
*Content found herein is not investment advice. This is a journalistic article and the author is not a registered securities advisor, and opinions expressed should not be considered as investment advice to buy or sell securities, but rather journalistic opinion only. Technical mining terms used by the writer may be used/expressed in simplified layman terms and should not be relied upon as appropriate for making investment decisions unless the reader contacts the company directly for independent verification. *Estimates of potential made by the mining analyst and journal(s) are non 43-101 and not from the Company.
—
Isabelle Arsenault
Media Relations
MomentumPR
- Published in Arctic Star Exploration, Diamond Discovery, Mining
Canada Cobalt Works Jumps Almost 12% on Back of Positive Assays
Sometimes the market reacts as we think it should and sometimes it doesn’t. The recent market reaction to a Canada Cobalt Works, (TSXV: CCW) (OTC: CCWOF,) press release proves that good news still has the ability to move share prices in the right direction.
According to a November 2, 2018 story in mining.com Canada Cobalt Works shares rose almost 12% after the company hit high grades at its flagship property, the Castle Mine, located in the Cobalt silver/cobalt camp, near Cobalt in Northern Ontario.
Recent drilling at Castle returned high grade vales for cobalt, silver and nickel.
- 2.8% cobalt, 261 g/t silver and 1.65% nickel over 7.00 meters in hole CA18-001
- 1.87% cobalt, 4,763 g/t silver, 1.29% nickel and 1.19 g/t gold over 2.54 m in CA18-002
- 3.16% cobalt and 10,741g/t silver (345 ounces per tonne) over 0.60 meter in hole CA18-003
In the November 2, 2018 press release, president and CEO Frank Basa said: “These cobalt grades are very high in a global context and demonstrate the unique opportunity at the Castle mine, from which we have already created battery grade cobalt sulphate through our proprietary Re-2OX process for evaluation by clients in Asia and Europe,” To put the Castle mine cobalt assays into perspective, most cobalt is a fractional derivative of mining copper, nickel, manganese or arsenic. Low results, such as 0.5%. are considered a high grade for cobalt.
As well as showing cobalt grades at the top of their class, the press release also underlines that Canada Cobalt Works is working on a far sighted strategy that includes capturing as much of the Chinese market as possible.
According to the Cobalt Development Institute, 94% of cobalt is produced as a byproduct of copper and nickel mining. Of that more than 50% comes from the Democratic Republic of the Congo and is usually described as “conflict cobalt.”
Conflict cobalt is just one of the reasons that cobalt mining in North America and other parts of the world is taking off. Just as blood diamonds helped power Canadian diamond exploration, and production, conflict cobalt is driving the search for ethical cobalt in jurisdictions that are politically stable. Tesla, for instance has long been known to be searching out secure North American cobalt for its supply chain.
According to a story in the Financial Post the cost of cobalt has risen from US$22,000 a ton in 2016 to US$90,000 a ton in 2018.
Cobalt is considered a “Critical Raw Material,” because of its use in lithium-ion rechargeable batteries used not only by the military but the general public as well. These are the batteries that power electric cars, (EVs), laptops and cell phones.
While consumer electronics will remain a strong battery metals driver EV demand is expected to multiply. A recent report by McKinsey&Company sates, “The underlying driver for both lithium and cobalt demand is the EV revolution, which is gathering pace. The latest estimates from McKinsey’s Future Mobility Initiative, suggests that global EV production will increase from 3.2 million units in 2017 to 13 to 18 million units to 26-36 million units in 2030.” The report also forecasts that China will account for 50%-60% of EVs by 2030.
Around the turn of the last century Cobalt in Northern Ontario went through a massive silver rush. Mines in the Greater Cobalt Camp produced over 500 million ounces of silver and over 30 million pounds of cobalt. Canada Cobalt Works has established a unique position for itself in the Cobalt Camp. It may also have a first mover advantage because of its advanced status.
Canada Cobalt owns the Castle Mine, which was formerly one of the highest grade silver-cobalt properties in the camp. Castle eventually closed down when silver prices went through a slump. As the price of cobalt began to rise, junior mines started exploring for cobalt in both abandoned mines and in green belts.
Canada Cobalt is the most advanced cobalt mine in development in the Cobalt Camp. It is the only mine that has permitted access to underground workings. Level 1 has now been modernized for safety and efficiency and the company intends to drill through the winter. Once again it is also the first company in the Cobalt Camp to start underground drilling. The company also believes it has found a new discovery 1.5 km east of the mine.
If you put the extremely high cobalt grades to one side, along with the silver, nickel and gold showings, Canada Cobalt also has an advantage that no other producer can offer. President and CEO Frank Basa has developed a proprietary metallurgical process to refine cobalt without the expense and time it would take to build a smelter. Not only is building a smelter expensive but the construction and break-in period would extend the length of time required before the cobalt can be produced and hit the markets.
Basa’s invention the Re-20X process pushes all the buttons that anyone could want. It reduces the amount of time it will take for CCW to market its cobalt. It is environmentally green, highly efficient and cost effective and scalable.
Tests at CCW’s Castle Mine pilot plant showed recoveries of 99% cobalt, 81% nickel, 84% manganese and it removed 99% of the arsenic.
CCW is a value added company and intends to market its cobalt as battery grade cobalt sulphate. At 22% cobalt sulphate hexahydrate the company’s production exceeds the technical specifications of battery producers in Asia. The company, thanks to its Re-20X process, has a revenue stream that few others produce. It can use Re-20X to reclaim battery and other metals form abandoned consumer electrics, computers, cell phones and laptops.
As matters now stand it looks as Canada Cobalt will be producing at least two out of the four battery metals now in demand, cobalt and nickel and may also be producing manganese, another battery metal. If investing in battery metals is on your radar, Canada Cobalt works may be the best in its class.
On November 12, 2018, Canada Cobalt Works (TSXV: CCW) (OTC: CCWOF,) was trading at $0.62.
This blog is written for educational purposes only. It should not be construed as investment advice. Every investor should perform their own due diligence. In the interests of transparency, Canada Cobalt Works is a client of Momentum Public Relations.
- Published in Blog, Canada Cobalt Works, Mining
Pacton Gold Becomes 3rd Largest Land Holder in Australia’s Pilbara Gold Rush and Significantly Expands its Gold-Bearing Conglomerate Portfolio
Momentum Public Relations
Press Release: May 22 2018
Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton“) is pleased to announce that it has entered into a binding letter of intent (“LOI“) to acquire 100% of the shares in Drummond East Pty Ltd (“Drummond East“), an arm’s length Australian proprietary limited exploration company wholly owned by Impact Minerals Limited (ASX: IPT) (“Impact“). Drummond East holds seven granted tenement licenses, comprising of a total of 1,126 sq km (the “Property“).
Highlights of the Transaction:
- Acquisition of ~1,126 sq km of strategic conglomerate hosting exploration properties.
- Pilbara total land portfolio now increased to approximately 2,227 sq km, which equates to ~18.6% in holdings when compared to the size of Novo Resources Corp. (TSXV: NVO) land holdings, of approximately 12,000 sq km.
- Transaction will place Pacton as the 3rd largest land holder in the Pilbara.
- Previous exploration indicates at least 90 km of prospective Fortescue Group conglomerates occurring at or near-surface on its granted licenses, in particular to the west and east of Marble Bar as well as close to the Beatons Creek gold deposit near Nullagine. Conglomerates identified are approximately the same age as the Witwatersrand Basin Gold deposits of South Africa.
- Properties are directly adjacent and proximal to key exploration properties controlled by Novo Resources Corp. and Kairos Minerals Ltd. (ASX: KAI).
- Rock chip results of up to 11.2 g/t gold occur at the Glen Herring Prospect 10 km west of Marble Bar in a gold-pyrite conglomerate that extends for 25 km.
- Other gold-bearing conglomerates identified on or adjacent to the licences.
- Access to the extensive regional knowledge and technical expertise provided by the Impact Team, led by Managing Director Dr. Mike Jones, who brings specific expertise in conglomerate-hosted gold, and who conducted his PhD studies on this style of mineralization in the northern source areas for the Witwatersrand Basin.
“We are pleased to make accretive acquisitions that strategically place Pacton as the third largest land holder in Western Australia’s Pilbara conglomerate-hosted gold region. Pacton continues to further consolidate the region through key property evaluations, and the addition of Drummond East increases our land holdings to 2,227 sq km,” commented Alec Pismiris, Interim President and CEO of Pacton. “The Impact Minerals team, led by Dr. Mike Jones, have successfully assembled a significant portfolio of advanced gold projects that present excellent prospectivity for discovery upside for the shareholders of Pacton. The Impact transaction solidifies our presence in the region, and is directly in line with our mandate to become one of the leaders in the Pilbara Gold Rush. With a strong treasury and financial backers, we are aggressively reviewing other opportunities.”
Impact’s Pilbara Gold Project and its Prospectivity
The seven 100% owned and fully granted licences cover 1,126 sq km of ground prospective for conglomerate-hosted gold in the Pilbara region of Western Australia (Figure 1). They were staked after an extensive review by Impact, following the discovery of gold in conglomerates at the base of the Fortescue Group by Artemis Resources Limited (ASX: ARV) and the subsequent joint venture with Novo Resources Corp.
The discovery by Artemis Resources indicated a significant breakthrough had been made in the search for conglomerate hosted gold deposits of a similar age to the Witwatersrand Basin of South Africa in the Pilbara. Impact aggresively applied for available prospective ground in the early stages of the Pilbara staking rush.
A preliminary review and synthesis of previous exploration data and mapping by the Geological Survey of Western Australia (GSWA) indicates the two most prospective conglomerate horizons within the Fortescue Group occur within or immediately adjacent to the licences (Figure 2):
- Conglomerates of the Hardey Formation. These rocks host the Beatons Creek resource (Tetra Tech 08/31/15 Measured and Indicated 3.39 Mt at 2.7 g/t gold for 299Koz Au, Inferred 3.04 Mt at 2.7 g/t gold for 259Koz Au) held by Novo Resources Corp. near Nullagine (Figure 2).
- Conglomerates at the base of the Mt Roe Basalt. The recent gold discovery at Purdeys Reward-Comet Well by Novo Resources Corp. and Artemis Resources Limited occurs within this unit (Figure 2).
Previous exploration indicates that the prospective conglomerates occur over at least 90 km of trend at or close to surface within the licences, in particular to the west and east of Marble Bar, as well as close to the Beatons Creek deposit near Nullagine.
West of Marble Bar, previous exploration in the district highlighted several gold occurrences associated with the conglomerate horizons on and along trend from Impact’s licence applications EL45/4972 and EL45/4971 (Figure 3).
Four main gold-bearing conglomerate occurrences have been discovered that demonstrate similar characteristics to those that occur within the Witwatersrand Basin including:
- Glen Herring Prospect: previous rock chip samples in 1989 returned assays of up to 11.2 g/t gold from a gold-pyrite bearing conglomerate within the Hardey Formation, which extends for 10 km of strike on licence EL44/4972 (Figure 3).
- Shady Camp WellProspect: one diamond drillhole was completed by Western Mining Corporation in 1976 to test a surface gold and radiometric anomaly in conglomerate-sandstone and returned 0.9 m at 0.6 g/t gold from 174 m downhole in quartz pebble conglomerate with rounded pyrite in the matrix. The conglomerate occurs close to a carbonaceous shale unit. Further, radiometric gold-bearing conglomerates in the Hardey Formation have been identified by previous explorers for at least 10 km along strike from Shady Camp Well.
The same conglomerates also extend for a further 15 km along strike to the southwest outside of Impact’s licence, where historic assays returned up to 2.1 g/t gold (see Figure 3).
- Gold-bearing pyritic quartz pebble conglomerates have been identified at the base of the Mt Roe Formation by several previous explorers at the Contact Creek Prospect which lies 6 km west of Impact’s licence E45/4971 with the the best rock sample result of 15.9 g/t gold by Novo Resources in 2013 (see Figure 3). This gold-bearing conglomerate extends to the east and occurs very close to surface over at least 4 km of strike on Impact’s licence EL45/4971.
- The Hardey Formation sandstones and conglomerates have been mapped by the GSWA over at least 25 km of strike on EL45/4971 and rock samples of conglomerate with very strong pyrite returned up to 0.26 g/t gold by CRA Exploration in 1987 (Figure 3).
The chemistry and characteristics of the conglomerates from the four propsect areas are similar to those observed in Witwatersrand-style conglomerate-hosted gold deposits.
These are significant observations and are very encouraging for further exploration on Pacton’s newly acquired licences.
These characteristics include:
- Widespread gold-bearing conglomerates in places.
- The identification of rounded detrital pyrite within the matrix between conglomerate clasts.
- The occurrence of black carbonaceous shale that occurs in close proximity to the conglomerates.
LOI Terms
Under the terms of the LOI, which will be formalized by a definitive agreement among the parties, the Company will purchase a 100% ownership interest in Drummond East by paying Impact a total of CAD$350,000 and issuing to Impact 2,125,000 common shares of Pacton.
In addition, Pacton will pay a bonus (the “Discovery Bonus“) to Impact of CAD$500,000 if Pacton publishes measured, indicated, or inferred gold resources of over 250,000 ounces on the Property. Pacton will grant Impact a 2% net smelter royalty in respect of the Property on standard industry terms to be agreed between the parties (the “NSR”). The parties agree that Pacton shall, at all times, retain an exclusive and unlimited right to purchase 50% of the NSR back from Impact for CAD$500,000.
A finder’s fee will be paid to COMVERJ Pty Ltd in respect of the transaction pursuant to the policies of the TSX Venture Exchange.
This transaction is subject to the acceptance of the TSX Venture Exchange.
About Pacton Gold
Pacton Gold Inc. is a Canadian junior exploration company focused on acquiring, exploring and advancing mineral assets in key mining friendly locations globally.
The technical content of this news release has been reviewed and approved Peter Caldbick, P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.
On Behalf of the Board of Pacton Gold Inc.
Alec Pismiris
Interim President & CEO
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company acquiring an interest in properties controlled by Impact Minerals Limited and completion of the proposed transaction described herein, the prospect of the Company achieving success in exploring the Property and the impact on the Company of these events, including the effect on the share prices. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.
View original content with multimedia:http://www.prnewswire.com/news-releases/pacton-gold-becomes-3rd-largest-land-holder-in-australias-pilbara-gold-rush-and-significantly-expands-its-gold-bearing-conglomerate-portfolio-300652508.html
SOURCE Pacton Gold Inc.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/May2018/22/c3213.html
Contact:
1-(855)-584-0258 or info@pactongold.com.
- Published in Pacton Gold Inc.
Noble Mineral hires Albert Mining for Project 81 work
Momentum Public Relations
Press Release: May 3 2018
Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) has commissioned an Artificial Intelligence (AI) Technology Interpretation over the entire Project 81 land package. NOB continues to think “outside the box” to enhance and upgrade the target selection process over this extensively under-explored land package, just north of the Kidd Creek VMS Deposit.
NOB has retained Albert Mining Inc., to use its proprietary Computer Aided Resources Detection Software (CARDS) “Artificial Intelligence Technology” to identify Copper-Zinc and Nickel-Cobalt targets initially in Carnegie and Crawford Townships, but intends to expand the survey to the entire 70,000 hectares Project 81 project, covering 12 townships, depending on this initial interpretation over Carnegie and Crawford Townships. Albert Mining Inc., is a leader in the use of Artificial Intelligence (AI) and advance knowledge-extraction techniques in the mining sector.
Noble Mineral’s Project 81 is located within the Kidd-Munro assemblage of the western Abitibi Subprovince in Ontario, and is one of the largest contiguous, underexplored land packages we have encountered and Albert Mining is pleased to have the opportunity to analysed and interpret the mineral potential of Project 81, using our CARDS Technology. The assemblage is one of the most ultramafic-rich volcanic successions of any age in the world and it hosts the Kidd Creek VMS deposit, an important example of bimodal-mafic (ultramafic) volcanic-associated massive sulphide (VMS) deposits.
By using its CARDS technology, Albert Mining will assist Noble Mineral in identifying targets and possible sites with the same signature as known copper-zinc and nickel-cobalt occurrences. Albert Mining will use its proprietary technology to analyze geophysical, geochemical, and geological data to discover the patterns hidden in the large amount of data that Noble Mineral has compiled over the years. This technology has been successful in assisting in the identification of a number of major mineral discoveries specifically in the Ring of Fire and elsewhere.
Randy S.C. Singh P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development a “qualified person” as such term is defined by National Instrument 43-101 has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Albert Mining Inc.:
Albert Mining is a junior mining exploration company using Artificial Intelligence (AI) with an extensive portfolio of gold, copper, and diamond properties in Quebec. Albert Mining also recently acquired all assets from DIAGNOS Inc.’s mining division, including the Computer Aided Resources Detection System (“CARDS”). Albert Mining can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. The Company’s objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company which, apart from its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Wawa-Holdsworth gold exploration property in Wawa, Ontario, has as its flag ship program Project 81, a contiguous land package of approximately ~70,000 hectares covering 12 townships immediately north of the Kidd Creek Mine (celebrating its 51 st year of operation). Project 81 which has seen very limited mineral exploration over the last 50 years and has had a number of historical drill indicated Gold, Copper, Lead-Zinc, Silver and Nickel showings. Noble has confirmed the discovery of a very large, low grade Nickel-Cobalt Deposit in Kingsmill Township in 2012, which is within the project area. The Lucas Gold showing was also drill tested by Noble in 2012 with additional follow up drilling in 2018. Assay results are pending. Additional information can be found on our website at www.noblemineralexploration.com.
Cautionary Statement:
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Noble Mineral Exploration Inc.
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
- Published in Albert Mining
Alliance Mining Reports Drilling Complete on Packsack Property, Bisset, Manitoba
Momentum Public Relations
Press Release: April 26 2018
Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) is pleased to report that drilling is complete on its Packsack property, part of the Red Rice Lake gold project. All drill core has been logged and core sawing/sampling is presently underway. Core size was NQ.
The program was completed with four drill holes totaling 792.9 meters. Locations (UTM NAD83 Zone 15) and drill hole orientations are tabulated below. All technical objectives of the program were accomplished.
Drill Hole # | Collar Coordinates | Orientation | Total Depth |
PK-18-1 | 310061E / 5652811N | -55° / 205°az | 80ft / 24.4m |
PK-18-2 | 310018E / 5652760N | -65° / 205°az | 1247ft / 380.1m |
PK-18-3 | 310037E / 5652739N | -70° / 180°az | 887ft / 270.4m |
PK-18-4 | 310001E / 5652695N | -48° / 220°az | 387ft / 118.0m |
Drill hole PK-18-1 was abandoned without casing into bedrock when unexpectedly deep overburden was encountered along the north side of the Red Rice Lake topographic lineament, which lies immediately north of the Packsack vein systems. Drilling was then shifted to the south side of the lineament. Drill setup locations along the south side of the lineament are constrained by beaver ponds, underground drifts/crosscuts and rock dumps. Future drilling from the north side of the lineament will start with HQ to ensure casing to bedrock.
Drill hole PK-18-2 was drilled beneath the Packsack veins and underground drifts/crosscuts. This drill hole intersected sericite-altered and quartz-veined feldspar porphyry dike mineralized with 1% pyrite at 104.84 to 110.48m, as well as chlorite-altered and quartz-veined mafic dike mineralized with 2% pyrite at 113.35 to 126.42m. These sections are believed to be en echelon northerly extensions of the Packsack vein systems. Core angles of 35 to 40° suggest true widths will be approximately 60% in these sections (see photograph below).
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PK-18-2 also intersected sericite-altered and quartz-veined dacite volcanics with 1% pyrite at 316.73 to 318.11m and at 328.57 to 356.20m. Core angles averaging 20° suggest true widths of about 35% in these sections. These intersections are believed to be the down-plunge extension of the Tine veins, which outcrop about 300m south of the Packsack shaft. The Tine veins were not a primary target of this program (see photograph below).
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Drill hole PK-18-3 was intended to test for a possible east to northeasterly plunge of the Packsack vein systems. This drill hole intersected sericite-altered quartz-veined dacite volcanics with 2% pyrite at 159.58 to 161.95m. Core angles of 30° suggest 50% true width. This drill hole suggests that the Packsack vein systems do not plunge significantly to the east or northeast, consistent with observations of a possible northerly en echelon pattern from hole PK-18-2.
Drill hole PK-18-4 was intended to intersect the Big Dome vein between the -125ft (38m) level and -250ft (76m) drifts/crosscuts, in order to provide gold grade/width data on the portion of the vein which was explored by underground exploration in the 1930s. This drill hole intersected sericite-altered and silicified dacite volcanics with minor pyrite at 38.10 to 46.33m (true width 70%), likely the Hargreaves vein. The Big Dome vein was intersected from 56.80 to 65.38m and was characterized by a 50% mix of quartz-calcite-ankerite-tourmaline veining with 1% pyrite and sericite-altered mafic dike wallrock with 3% pyrite. Core angles on the Big Dome vein varied widely but averaged 30° suggesting a 50% true width (see photo below). Variable sericite alteration and quartz-calcite-ankerite-tourmaline veining continued in both altered dacite and altered mafic dikes with 1 to 2% pyrite at 65.38 to 90.09m and 112.61 to 115.59m with core angles averaging 45° suggesting 70% true widths.
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“These geological/mineralogical characteristics are indicative of a very promising environment for gold exploration,” stated consulting geologist William Hood.
Alliance Mining has an option to acquire 100 per cent of the Red Rice Lake property located in the centre of the Bissett gold camp in Manitoba. The property is located close to the town of Bissett, Man., and just four kilometres south from Klondex Mines’ True North gold mine. The Red Rice Lake gold property claims are located within the Archean Rice Lake greenstone belt in southeastern Manitoba. This belt forms part of the Uchi sub province that includes the Red Lake and Pickle Lake belts in Northwestern Ontario.
Alliance is actively seeking to expand its presence in the Bissett Gold camp through future property acquisitions and/or potential joint venture exploration partnerships with neighbouring companies.
William C. Hood, P.Geo, a qualified person as defined by National Instrument 43-101, is responsible for the technical information contained in this news release.
ON BEHALF OF THE BOARD
Mr Christopher Anderson
President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations:
Antony Claydon: 604-445-5421
E-mail: ir@alliancemining.com
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Alliance Mining Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
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- Published in Alliance Mining
Albert Mining Inc. to use Artificial Intelligence (AI) over the Flin Flon Mining Camp, Manitoba-Saskatchewan
Momentum Public Relations
Press Release: April 24, 2018
Albert Mining Inc. (“Albert Mining” or “Corporation”) (TSX-V: AIIM), a mining exploration company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques in the mining sector, is pleased to announce the initiation of the Flin Flon-Snow Lake project covering a swath of west-central Manitoba and eastern Saskatchewan. The work will be done internally using CARDS (Computer Aided Resources Detection System), an Artificial Intelligence tool (Machine Learning). The area being investigated covers 13,708 km2 and is prospective for a number of mineral deposit types, particularly bimodal-felsic VMS (Cu-Zn-Ag-Au-rich) deposits. It lies within the Flin Flon belt, one of the largest Proterozoic volcanic-hosted massive sulphide district in the world, containing 27 Cu-Zn-(Au) deposits from which more than 162 million tons of sulphide have already been mined or are in development
The work will consist of compilation, merging, and processing of all the available public geophysical, geological, geochemical, and topographical data from the Geological Survey of Canada, the iMaQs (Ministry of Innovation, Energy and Mines of Manitoba) and SMAD (Saskatchewan Mineral Assessment Database) databases. A total of 19,379 projected assays (Au, Ag, Cu, Zn) from 5,620 drill holes (DDH) and 166 mineral occurrences (Au, Ag, Cu, Zn) were digitized by Albert Mining’s team. The data from some 1,670 assessments reports, as well as from two datasets comprising 370 and 692 variables (5,483,197 and 3,381,749 data points), respectively, provided from the merging by Albert Mining of public magnetic and electromagnetic data at 50m resolution, will be analyzed through two models by CARDS (Computer Aided Resource Detection System) to identify new targets with signatures similar to known areas of Au, Ag, Cu, Zn mineralization.
Mr. Michel Fontaine, President & CEO of Albert Mining, stated: “The best place to find a mine is close to a mine. This is exactly what we are doing in the Flin Flon area. CARDS will be able to analyze large public geophysical, geochemical, and geological data sets available for the Flin Flon-Snow Lake project in order to discover hidden patterns. The new Au, Ag, Cu, Zn exploration targets generated by Albert Mining will be sold to local exploration mining companies, staked, and the best grassroots targets will be followed up.”
About Albert Mining Inc.
Albert Mining is a junior mining exploration company using 100% Artificial Intelligence (AI) to generate mining projects with an extensive portfolio of gold, copper and diamond properties in Quebec. Albert Mining also recently acquired all assets from DIAGNOS Inc.’s mining division, including the Computer Aided Resources Detection System (“CARDS”). Albert Mining can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. The Company’s objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining.
For further information, please contact:
Michel Fontaine
President and CEO of Albert Mining Inc.
Telephone: 514-994-5843
Fax: 613-422-0773
Email: michel@albertmining.com
Website: www.albertmining.com
Albert Mining-Powered by Artificial Intelligence
Additional information about the Company is available under Albert Mining’s profile on SEDAR atwww.sedar.com .
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. 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 are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the resumption of the trading of Albert shares on the TSX Venture Exchange. Statements regarding future production, capital expenditures and development plans are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in Albert Mining’s public disclosure documents, copies of which are available on Albert Mining’s SEDAR profile at www.sedar.com .
Although Albert Mining believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Albert Mining’s actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and except as required by applicable securities laws, Albert Mining disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are 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 Uncategorized
Alliance First Drill Hole Completed — Shows All the Characteristics of Gold Mineralization — Bissett Gold Camp, Manitoba
Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) is providing an update on its drill program on its Packsack gold property which began on March 15th 2018, and is being supervised by Alliance’s consulting geologist William C. Hood P. Geo. The Packsack property forms part of the company’s Red Rice Lake gold project located in Bissett Manitoba.
The first hole of the approximately 1,000 metre drill program was drilled to a depth of 380 metres under the existing Packsack shaft. Drilling under the Packsack shaft has shown that shearing, late dikes, and quartz veining with sericite, pyrite and tourmaline extend well below the 150 metre level drift. The features and mineralization observed in the core “show all the characteristics of gold mineralization found in the Packsack veins and elsewhere in the Bissett Gold camp,” says Bill Hood, P.Geo.
To view the graphic in its original size, please click here
The second drill hole in now underway. This is the first significant drill program to test under the 500 ft (152 m) level exploration drift on the Packsack property.
The Packsack property hosts several gold-bearing veins within a conjugate fracture set adjacent to the Red Rice shear zone. Previous exploration on the Packsack property has been focused on the Big Dome Vein, with a shaft to 525 ft (160 m) and 2867 ft (874 m) of drifting and crosscutting on 4 levels down to 500 ft (152 m), all completed between 1936 and 1940. The structural control on veining at the Packsack property is similar to that at the True North Mine, 4 km northeast, operated by Klondex Mines Ltd.
To view the graphic in its original size, please click here
Alliance Mining has an option to acquire 100 per cent of the Red Rice Lake property located in the centre of the Bissett gold camp in Manitoba. The property is located close to the town of Bissett, Man., and just four kilometres south from Klondex Mines’ True North gold mine. The Red Rice Lake gold property claims are located within the Archean Rice Lake greenstone belt in southeastern Manitoba. This belt forms part of the Uchi sub province that includes the Red Lake and Pickle Lake belts in Northwestern Ontario.
Alliance is actively seeking to expand its presence in the Bissett Gold camp through future property acquisitions and/or potential joint venture exploration partnerships with neighbouring companies.
William C. Hood, P.Geo, a qualified person as defined by National Instrument 43-101, is responsible for the technical information contained in this news release.
To view the graphic in its original size, please click here
ON BEHALF OF THE BOARD
Christopher R. Anderson
President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations:
Antony Claydon: 604-445-5421
E-mail: ir@alliancemining.com
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Alliance Mining Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
To view the original release (with media), please click here
Source: Alliance Mining Corp. (TSX Venture:ALM)
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- Published in Alliance Mining