CROP Receives Permit to Complete Construction at ‘The Dozen’ Greenhouse Project in Washington
Momentum Public Relations
Press Release: September 18, 2018
CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) announced today that it has received an updated building permit for its Washington “The Dozen” Project. CROP had previously revised the building plans to include upgraded access roads and a new staff facility, including restroom and break-room.
The company has completed 90% of the construction of the first six (6) purpose-built proprietary greenhouses and will now complete the final construction for site approval.
Phase one of construction, consisted of site preparation and foundations for twelve (12) purpose-built indoor agricultural canopies encompassing a planned total area of approximately 44,000 square feet.
Each completed phase will be leased to licensed tenant growers along with brand licensing and the CROP SAFE Standard Operating Procedures (SOPs). The site currently allows for about 176,000 square feet of canopy space.
The 12 indoor growing facilities will benefit from a regional electricity rate of $0.02/kWh USD and based on internal calculations provided by CROP’s expert consulting partner, should result in tenant cost of production of less than $150.00 USD per lb. ($0.33 per gram) with adherence to the CROP SAFE Standard Operating Procedures.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “Once the project is completed this will serve as our CROP SAFE production model for all our future builds across the globe. We intend to have strict replication of our growing procedures to get the best return from every square foot of growing space and the lowest cost possible for our tenants.”
About CROP
Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California and Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of assets including Canna Drink a cannabis infused functional beverage, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home
CROP’s California Harvest Passes Test
Momentum Public Relations
Press Release: September 14, 2018
CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) (“CROP”)announced today its California tenant has received lab result from its first crop. The first sample of dried BOSS OG Cannabis flower was submitted to Humboldt Quality Assurance Laboratory for analysis on August 27, 2018.
The sample has received a Tetrahydrocannabolic Acid (‘THCA’) result of 21.4% and passed all tests for microbial impurities and it also had no detectable pesticides. THCA is not directly used, but its presence is commonly analyzed when cannabis or hemp-based products are screened for THC. Samples have now been submitted for State testing for the approval to sell.
The third greenhouse crop has now been harvested and is drying. The company is awaiting construction permits to buildout 12 propriety light supplemented greenhouses totaling 44,000 sq. ft.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “CROP’s tenant has strictly adhered to the CROP SAFE gold standard for organic cannabis cultivation practices. CROP SAFE utilizes only natural ingredients for its fertilizers and pest control. Once CROP completes its green house complex we can anticipate considerably increased production from this tenanted facility.”
About CROP
CROP Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California and Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of assets including Canna Drink a cannabis infused functional beverage, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home
Canada Cobalt Announces U.S. Listing ONOTCQB Venture Marketplace
Momentum Public Relations
Press Release: September 13, 2018
Canada Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that the OTC Markets Group has approved the upgrade and listing of the Company’s common shares on its OTCQB Venture Market under the symbol “CCWOF” effective today, September 13, 2018. The Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “CCW”.
The OTCQB Venture is the premier marketplace for entrepreneurial and development stage US and international companies that are committed to providing a high-quality trading and information experience for their US investors. To be eligible companies must have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
US investors can find current financial disclosure and Real-Time Level 2 quotes for the Company at https://www.otcmarkets.com/stock/CCWOF/quote.
The Company also reports that it is the process of applying to the Underwriting Department at the Depository Trust Company to become “DTC” full service eligible, which will allow for electronic trading. DTC is a subsidiary of the Depository Trust & Clearing Corporation DTCC, and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.”
The ability to have the Company’s shares electronically transferred between brokerages in the US is significantly more convenient and reduces the costs incurred in trading shares.
When shares are able to trade electronically, existing investors benefit from greater liquidity and execution speeds, while opening the door to new investors that may have been previously been restricted from the Company’s shares.
About Canada Cobalt Works Inc.
Canada Cobalt is a pure play cobalt company focused on its past producing Castle mine in the Northern Ontario Cobalt Camp, Canada’s most prolific cobalt district. With underground access at Castle, a recently installed pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
- Published in Canada Cobalt Works, Mining, News Home
Crop Developing Cannadrink CBD-Infused Beverages
Momentum Public Relations
Press Release: September 13, 2018
CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) announced today it is developing a new cannabis-infused line of soft drinks. Called ‘CANNADRINK’, the beverage will be developed to be a zero calorie, non-GMO, ketogenic-friendly line of soda pop, and will include tea and coffee versions.
The global carbonated soft drinks market is projected to reach USD 605.6 Billion by 2025, according to a March 2018 report by Grand View Research, Inc.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “The cannabis-infused beverages market has attracted the attention of world class beverage companies as legalization spreads. We see it as a tremendous opportunity for CROP Infrastructure’s branding & IP portfolio and as an axillary opportunity for each of our cultivation tenants Globally.
“The global soft drink market, in another study, is forecast to grow at a CAGR of 5.62% through to 2021. It is also going sugar free. Studies from the World Health Organization have shown that a simple can of carbonated soda drink can contain over 40 grams of sugar, equivalent to 10 teaspoons of table sugar. As an example, Britain’s sugar tax has forced many soft drinks companies to re-evaluate the sugar content of their soft drinks and are developing new low or reduced-sugar beverages with additional claimed health benefits, in response to consumer demand.
“Functional beverages are a new class of products that offer beyond basic nutritional ingredients including vitamins, minerals, herbs, amino acids and probiotics. We believe that cannabis’s medically known benefits will enhance our own formulations, so we are bang on target with our CANNA DRINK line,” concluded Yorke.
Follow CannaDrink on Instagram & Twitter.
About CROP
Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California and Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of assets including Canna Drink a cannabis infused functional beverage, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: http://www.cropcorp.com
Phone: (604) 484-4206
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home
Health Canada Reclassifies Tetra Bio-Pharma’s Inhalation Device Making it Eligible for Reimbursement
Momentum Public Relations
Press Release: September 13, 2018
Tetra Bio-Pharma Inc. (“Tetra” or the “Corporation“) (TSX VENTURE: TBP) (OTCQB: TBPMF), a global leader in cannabinoid-based drug development and discovery, announced today that Health Canada has re-classified the inhalation pipe device used in the delivery of its PPP001 cannabis drug to a Class 2 Medical Device. The reclassification will help pave the way towards reimbursement for patients; a key element to patient access and care. The significance of this decision is such that if PPP001 is approved by Health Canada, both the prescription drug and the inhalation device will be eligible for insurance coverage by private and provincial public insurance plans. Tetra Bio-Pharma is undertaking a Phase III trial with PPP001 treating late stage cancer patients looking to improve quality of life and reduce pain. The Company also recently announced it is starting a head to head trial to investigate cannabis versus Fentanyl in managing breakthrough cancer pain.
“We are very excited by the reclassification as we believe it will provide patients with a financial benefit in terms of coverage for the device and prescription drug,” stated Dr. Guy Chamberland, Ph.D., Interim CEO and CSO at Tetra Bio-Pharma. “Many cancer patients rely on private and public insurance plans for access to their medication. This decision by the Government of Canada is an important step forward to facilitating access to cannabis drugs. This coupled with our robust clinical trial program and the evidence we are establishing will support physicians in discussing and recommending this option with their patients.”
Dr. Chamberland further stated, “the lack of scientific data on the safety and efficacy of cannabis is a critical barrier to patient access, and something that Canadian physicians are waiting for before being comfortable to prescribe it. Equally essential is adhering to the highest standards of drug manufacturing as well as the production of the delivery mechanism – something that Tetra is committed to. There are more than 300,000 registered users of medical cannabis in the country and we can only expect this number to rise.”
Tetra has been a pioneer in the development of several cannabis drugs. To date, the Corporation has completed several safety and pharmacokinetic studies in healthy volunteers obtaining proper dosing information and a clear understanding of the potential cardiovascular and neurological risks to patients. This information is critical to protect public health, and Tetra Bio-Pharma is engaged with Health Canada to comply with the highest drug safety standards.
About Tetra Bio-Pharma Inc.
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed, clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabis and other medicinal plant-based elements. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
- Published in Business, Life Sciences, Medical Marijuana, News Home, Tetra Bio Pharma
Tetra Bio-Pharma Accelerates its European Drug Registration Activities
Momentum Public Relations
Press Release: September 11, 2018
Tetra Bio-Pharma Inc. (“Tetra” or the “Corporation“) (TSX VENTURE: TBP) (OTCQB: TBPMF), a global leader in cannabinoid-based drug development and discovery, announced today that it is accelerating the submission of a pre-marketing application for the registration of its cannabis drugs PPP001 and PPP005 under Directive 2001/83/EC of the European Parliament and of the Council.
This directive provides Tetra Bio-Pharma with the legal and regulatory framework needed to submit its pre-marketing application for its cannabis drugs. According to Dr. Guy Chamberland, Interim CEO and CSO, “the corporation has performed its own clinical trials and has sufficient quality and clinical trial data to initiate the application for the registration of PPP001 and PPP005 under the Directive 2001/83/EC. Tetra intends to pursue a Full Market Authorisation since it has a dossier supporting the medicinal product’s quality, safety, and efficacy.”
All of Tetra’s clinical trials were performed with the same quality of evidence required by the National Competent authorities approving medicines/drugs. Tetra has completed several well-designed safety, pharmacodynamic and pharmacokinetic studies in healthy volunteers and also has two ongoing, well-designed clinical trials in patients. These trials are all double-blind, randomized and placebo controlled.
About Tetra Bio-Pharma Inc.
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed, clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabis and other medicinal plant-based elements. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
- Published in Life Sciences, Medical Marijuana, News Home, Tetra Bio Pharma
Crop Completes Purchase of Nye County Farm
Momentum Public Relations
Press Release: September 7, 2018
CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) (“CROP“ or the “Company“) announced today that it has completed the member interest purchase agreement with Elite Ventures LLC, of Nevada, to acquire a 49% member interest in the Nye County agricultural property. The company has agreed to pay $1,350,000 USD in cash and has currently loaned $1,697,148 USD for the property and equipment expenses, with no more than $200,000 in additional expenses expected for this first harvest.
The Nye County agricultural property is in central Nevada and was selected for its temperate climate which is ideal for greenhouse and outdoor growing. The property totals over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed.
The previously announced 240 acres of CBD Hemp has been planted and is currently 2.5-3 feet tall and growing under pivot with the resulting harvest expected within 45 days. A recent plant count suggests 3,000 healthy plants per acre or 720,000 plants under pivot. All harvesting equipment has been secured for the resulting hemp biomass. The cost of production was not expected to exceed $700,000, with $350,000 incurred to date, and no more then $200,000 in additional costs expected to prepare our tenant for this harvest.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “We are pleased to have completed this acquisition and see our operations coming in under budget for this first harvest. This further demonstrates that our tenant and brand licensee was the correct choice for our Nevada farm. The next phase of development will be a state-of-the-art extraction facility to make high-value CBD isolate.”
About CROP
Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California and Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 16 Cannabis brands and has US and Italian distribution rights to a line of over 55 cannabis topical products from The Yield Growth Corp.
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home, Uncategorized
World Marijuana Market Predicted to Enjoy a 47% CAGR for the Next Nine Years
Europe May Become the World’s Largest Medical Marijuana Market
It has been compared to both the Tech Bubble and the South Sea Bubble but marijuana stocks have a habit of rebounding and with good reason. When shortsellers were causing a blip earlier this summer, the Constellation Brands deal with Canopy Growth restored the market.
With a global sales value of US$57 billion predicted by 2027 the international marijuana market is going to gain in value as savvy operators move to take the nascent industry into the international mainstream.
A report by Arcview Market Research and BDS Analytics in February 2018 predicts an explosive growth in medical marijuana consumption across the globe and recreational marijuana in the United States and in Canada. The report, Roadmap to a US$57 Billion Worldwide Market, forecasts that by 2027 global legal marijuana consumption will reach US$57 billion.
According to the roadmap, recreational use will dominate the sales figures at US$38 billion followed by medical marijuana at US$19.1 billion. North American consumption is pegged to lead global markets rising from US$9.2 billion in 2017 to US$47.3billion in 2027.
Globally, Arcview and BDS see the market going from US$52 million in 2017 to US$2.5 billion in 2027 providing ROW markets with a CAGR of 47%. The report points out that Europe, with a population of 739 million and US$1.5 trillion in healthcare spending stands to become the largest medical cannabis market in the world.
Canadian companies have already leveraged their first starter status to move into the international space. Industry leader Canopy Growth (TSX: WEED) has just had its target price upgraded to $74.00 from $56.00 by Cowen and Company analyst Vivien Azer. One of her reasons for raising the target price was that Canopy had the “Ability to establish an early lead in the adult use cannabis market as well as the domestic and international medical marijuana market.”
Through a variety of strategic alliances, investments and ownership, Canopy Growth has operations in Columbia, Brazil, Chile, Germany, Jamaica, Denmark, Germany and Australia. Canopy has never shied away from saying that its corporate agenda is to become the number player in the international medical and recreational marijuana company.
Aurora Cannabis (TSX: ACB) has operations in 14 countries spread across five continents. It recently the creation of a spinoff, Australis, a company designed to make investments in US cannabis and real estate. Aurora raised $17 million in a private placement to finance the investments.
Aprhria, (TSX: APH,) announced in March 2018 that it had purchased Nuuvera a grower and distributer with strong Maritime connections. Aphria paid $525 million to acquire Nuuvera but it was looking far beyond the Maritimes. Some European countries are or will be demanding that medical marijuana be grown in their own countries. Nuuvera has five different country licenses and applications to the table. The company now called Aphria International is a front runner for a German cultivation license.
While many of the Canadian marijuana companies listed on the TSXV and CSE have upgraded and joined the TSX as they prospered, opportunities are still to be had in the small cap sector.
Crop Infrastructure, (CSE: CROP) recently received a positive rating in Forbes in The Three Most Overlooked Marijuana Markets. It earned those kudos on the strength of its Jamaican operation. CROP just announced that Greg Douglas, the former CEO of the Jamaican Cannabis Licensing Authority had joined CROP as a member of the executive advisory board with a special focus on Jamaica.
CROP Infrastructure Corp. loans capital to purchase real estate and build greenhouse infrastructure which is leased to the licensed producers. It also offers management and branding expertise. The company receives a 60% preferential payback via lease and management fees on greenhouse infrastructure related equipment, until its deployed capital is returned in full. Once its investment is repaid in full, CROP’s 30% interest in the real estate and infrastructure will receive dividends indefinitely. The company also has several minority positions in its tenants. CROP is structured like a REIT. It has operations in Nevada, Washington State, California, Jamaica and Italy. Its long-term strategic goal is to operate in every jurisdiction where marijuana or medical marijuana is legal.
CROP operations have started harvesting in Italy and Washington State and this should provide the share price with momentum. Arcview Market Research has pegged Italy as being Europe’s second largest medical marijuana market after Germany. As well CROP has a joint venture in two California dispensary locations, San Bernardino and West Hollywood.
American regulations have also led to American producers listing on Canadian exchanges. The Next Green Wave is to be listed shortly on the CSE after the company successfully raised $21 million in Canadian financing. The company operates in California where recreational marijuana was legalized at the beginning of the year. The California market is expected to be one of the largest in the world.
It has four California licenses that just about cover everything from seeds to cultivation to producing oil and cannabinoids for medical marijuana to distribution. It falls under today’s rubric of European market opportunities because the company is in discussions with European growers about seeds.
Along with its licences NGW has an ace up its sleeve because CEO Mike Jennings has won the High Times Cannabis Cup six times and been inducted into the High Times Seedbank Hall of Fame. High Times is the marijuana growers’ and consumers’ bible. Next Green Wave has a sponsorship agreement with High Times.
Canada legalized medical marijuana in 2001, which eventually led to the legalization of recreational marijuana in 2018. As well, 29 American states have legalized medical and recreational marijuana. Just as the legalization of medical marijuana led to the legalization of recreational marijuana in North America, the industry believes that recreational marijuana will eventually become legalized around the world as more and more jurisdictions legalize medical marijuana.
How soon that will happen is anyone’s guess. Arcview Market Research’s editor in chief Tom Adams believes that will only happen after the American government ends its marijuana prohibition. Only then, he believes, will the United Nations remove marijuana from the United Nations Single Convention on Narcotic Drugs.
The above should not be construed as investment advice. It has been written for education purposes only. Every investor should and must perform their own due diligence.
- Published in Blog, Business, Medical Marijuana, News Home
Crop Advances Dispensary App to Level 3 Review and Hempire’s Harvest Continues With First Sales Pending Testing
Momentum Public Relations
Press Release: September 6, 2018
CROP Infrastructure Corp. (CSE: CROP) (CSE: CROP.CN) (OTC: CRXPF) (“CROP“ or the “Company“) announces it has received confirmation that its San Bernardino dispensary application has advanced to stage three of four of the application review process.
Furthermore, the Company is pleased to announce its 49% “Emerald Triangle” cannabis production facility tenanted by “Hempire” in Humboldt California continues harvest with an additional 2 greenhouses now drying and awaiting test results to begin selling. This 30,000 square foot production facility sits on approximately 8.46 acres and consists of a 10,000 square foot medicinal cannabis greenhouse facility and an additional 20,000 square feet of recreational licensed canopy.
Hempire has also advised they have secured 800 additional ready-to-flower plants for a late season harvest with a unique genetic currently in high demand.
CROP Infrastructure Director & CEO Michael Yorke states: “Crop’s tenant, Hempire’s harvest looks phenomenal and we look forward to receiving the first brand licencing and lease payments from Hempire in September. The Emerald Heights dispensary application is exciting as vertically integrating tenants will provide for the largest returns both from a brand licencing perspective and return on investment from CROP’s real estate portfolio.”
About Humboldt Holdings LLC
Located in Humboldt County, California the property is 8.46 acres and currently houses a 10,000 square foot greenhouse as well as a barn, garage and residence. On site are five 5,000-gallon water tanks, a well and pump house and a 30 x 60 ft. drying shed. The property is zoned for a 10,000 square foot medical and a 20,000 square foot recreational cannabis license.
https://cropcorp.com/property/california/
About CROP
CROP Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California, Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 15 Cannabis brands and has US and Italian distribution rights to a line of over 55 topical cannabis products from The Yield Growth Corp.
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home
Stelmine initiates new exploration work
Momentum Public Relations
Press Release: September 5, 2018
Stelmine Canada(« Stelmine ») (TSXV:STH). Stelmine is pleased to announce the start of a one month exploration campaign on its Trieste, Joubert and Mercator claims located northwest of our Courcy flagship property where extensive work is currently implemented. Following promising gold values form samples collected in 2017, our geologists will carry out more detailed exploration including geological and structural mapping followed by grab and channel sampling.
Altius Resources and Midland Resources recently presented a new discovery on their Isengard project located near and in a similar stratigraphic sequence to that of the Joubert project.
Says Isabelle Proulx, CEO and President of Stelmine: « We are encouraged by the last discovery adding to ours within the eastern sector of the Opinaca basin. The fact that several exploration companies are currently exploring this region stimulate the interest and enhances its potential. Since Stelmine owns 994 claims in this sector, the company is confident of its results and is directing all its efforts to develop this new sector ».
Trieste property
In 2017, Stelmine mapped folded layers of magnetic iron formations (oxide and silicate facies) interstratified with beds of metasedimentary and metavolcanic rocks (Trieste Formation). The investigated area represents the western extension of the volcanosedimentary Trieste greenstone belt. A composite sample collected from a mineralized wallrock near iron formation beds revealed gold and arsenic concentrations of 1.10 g/t Au and 8400 ppm respectively. Exploration work completed by several mining companies within the eastern segment of the Trieste greenstone belt lead to the discovery of gold showings in a similar geological context near iron formations (ex: Savon Or, Pankot’s Palace, Isri, Q574275 et S270772; SIGEOM-MRNQ database). These showings yielded gold values from 0.6 g/t to 5.1 g/t from grab and channel samples.
Joubert property
Gold mineralization was discovered by Stelmine in 2017 in the northeast section of the Joubert property on a gossan exposing paragneissic rocks (Rivière au Salomon Formation) at the contact with metabasalts (Trieste Formation). Grab samples revealed assay values of 2.48 g/t Au, 0.16 % Zn, 1440 and 2760 ppm As. In the southeastern part of the property, massive and pillowed basalts and metasediments reveal silicified massive to disseminated sulphide-rich, graphitic and cherty zones showing anomalous gold and zinc values (0.10 and 0.13 g/t Au) and (0.10 wt. % Zn). Assay values of 4.69 g/t and 0.48 g/t Au were produced from deformed quartz veins located 1 km south of Stelmine’s new discovery. Work completed by Osisko Exploration James Bay in 2015 in the extension of the metasedimentary rocks of the Rivière au Salomon Formation, 43 km SE of the Joubert property, allowed the discovery of 51 boulders yielding significant gold values (0.1 g/t to 8.0 g/t Au). These arsenopyrite-rich boulders found near the La Grande and Opinica subprovince contact are mainly represented by amphibolites accompanied by sandstones and tonalites.
Mercator property
Stelmine will launch its first exploration campaign of the Mercator property. The latter includes 126 claims totaling 65 km2 located in the eastern extension of the Opinaca subprovince south of the contact with the La Grande subprovince. The exposed rocks are constituted of highly metamorphosed paragneiss and mafic gneiss of volcanic origin forming part of the Hublet Group. Geological mapping conducted by the MRNQ in 1997 (RG97-11) lead to the discovery of several mineralized showings, including the Biblain showing in metavolcanic, tonalitic and iron formation rocks. Assay values yielded gold concentrations of 3.0 g/t and 0.87 g/t respectively, accompanied by high arsenic contents (0.22 and 0.96 wt. %).
The technical contents of this release were approved by Michel Boily, PhD, geo; a Qualified Person (QP) as defined by National Instrument 43-101.
Follow us on www.Stelmine.com and on our Facebook page (Stelmine Canada) where we uploaded pictures of the Courcy camp and others properties soon.
About Stelmine
Stelmine is a junior mining exploration company which concentrates its activities in the Province of Québec. Stelmine holds 994 claims spanning 517 km2 on the eastern part of the Opinaca metasedimentary basin, which contains zones with a high potential for gold deposit discovery in geological contexts similar to the one leading to discovery of the Éléonore Mine. Its capital stock consists of 29 648 645 issued and outstanding shares for a current market capitalization of $4.7 million.
- Published in Mining, News Home, Stelmine Canada