Cerro Blanco Drilling Delivers 11.1 m grading 8.5 g/t Au and 6.1 m grading 13.7 g/t Au Files Final Base Shelf Prospectus
Momentum Public Relations
Press Release: September 26, 2019
Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) (“Bluestone” or the “Company”) is pleased to announce additional high-grade drill assays from its ongoing infill resource conversion program at its Cerro Blanco Gold project.
Several high-grade intercepts were drilled including:
- 1.0 meter grading 28.6 g/t Au & 186.0 g/t Ag
- 5.2 meters grading 8.2 g/t Au & 10.8 g/t Ag
- 6.1 meters grading 13.7 g/t Au & 10.8 g/t Ag
- 6.1 meters grading 11.9 g/t Au & 18.0 g/t Ag
- 11.1 meters grading 8.5 g/t Au & 7.1 g/t Ag
The focus of the current drill program is the conversion of Inferred Resources within key veins in the upper part of the Cerro Blanco deposit and vein extensions outside of the current resource. The Cerro Blanco Feasibility Study (see press release January 29, 2019) highlighted 357,000 ounces of Inferred Resources (1.4 Mt grading 8.1 g/t Au) that could be potentially converted to Measured and Indicated Resources through infill drilling.
Darren Klinck, President and CEO commented, “We are pleased with the continued success of the infill drill program in the North Zone of the deposit which has been a focus for us the last six months. We expect to put out an updated resource in the coming weeks reflecting the additional information generated from the drilling in the North Zone. As well, with the positive impact this program will ultimately have on adding value to the Cerro Blanco project, we are continuing to drill, shifting our focus to the South Zone for the next several months.”
Table 1. Significant Intercepts (this Press Release)
HOLE ID | FROM (m) | TO (m) | CORE INTERVAL(m) |
TRUE WIDTH (m) |
Au g/t | Ag g/t | Vein ID |
UGCB19-153 | 115.7 | 116.7 | 1.0 | 1.0 | 28.6 | 186.0 | VN_02 |
138.3 | 139.3 | 1.0 | 1.0 | 16.7 | 47.2 | VN_05 | |
UGCB19-154 | 79.8 | 83.6 | 3.8 | 3.1 | 3.2 | 14.2 | VN_02,03 |
107.0 | 108.0 | 1.0 | 1.0 | 11.8 | 26.3 | VN_06 | |
UGCB19-155 | 3.7 | 4.8 | 1.1 | 1.0 | 4.9 | 6.2 | VN_27 |
14.5 | 15.5 | 1.1 | 1.0 | 7.9 | 9.6 | VN_26 | |
64.8 | 70.4 | 5.6 | 5.2 | 8.2 | 10.8 | VN_02,03 | |
75.3 | 82.3 | 7.0 | 6.1 | 11.9 | 18.0 | VN_05,06,07 | |
CB19-410 | 134.9 | 135.9 | 1.0 | 1.0 | 6.7 | 17.2 | VN_30 |
145.5 | 146.5 | 1.0 | 1.0 | 5.6 | 15.5 | VN_16 | |
152.2 | 155.5 | 3.3 | 3.1 | 3.6 | 5.1 | VN_15 | |
162.6 | 165.9 | 3.3 | 3.0 | 8.6 | 17.9 | VN_14 | |
181.0 | 182.6 | 1.7 | 1.3 | 25.5 | 12.6 | VN_13 | |
211.7 | 218.2 | 6.5 | 6.1 | 13.7 | 10.8 | VN_11 | |
222.4 | 233.9 | 11.5 | 11.1 | 8.5 | 7.1 | VN-10 | |
241.7 | 242.7 | 1.0 | 1.0 | 5.8 | 6.9 | VN_09 | |
CB19-413 | 128.9 | 129.9 | 1.0 | 1.0 | 4.6 | 4.3 | – |
133.5 | 134.5 | 1.0 | 1.0 | 7.3 | 6.7 | VN_17 | |
143.3 | 144.3 | 1.0 | 1.0 | 5.6 | 25.7 | VN_16 | |
224.1 | 225.1 | 1.1 | 1.0 | 7.5 | 9.3 | VN_11 | |
244.2 | 245.1 | 0.9 | 0.9 | 3.7 | 3.8 | VN_09 | |
254.8 | 255.8 | 1.0 | 1.0 | 4.0 | 3.7 | VN_01 | |
CB19-414 | 164.5 | 165.6 | 1.1 | 1.0 | 3.9 | 21.1 | VN_15 |
239.7 | 247.4 | 7.7 | 7.5 | 4.8 | 11.7 | VN_09,25 | |
CB19-415 | 137.1 | 141.2 | 4.1 | 4.0 | 4.1 | 8.2 | VN_30 |
159.6 | 160.6 | 1.0 | 1.0 | 4.8 | 26.8 | VN_16 | |
166.0 | 168.0 | 2.0 | 1.9 | 9.1 | 8.9 | VN_15 | |
196.0 | 197.5 | 1.5 | 1.2 | 3.8 | 2.9 | VN_13 | |
217.4 | 218.4 | 1.0 | 1.0 | 22.3 | 64.5 | VN_12 | |
231.6 | 235.9 | 4.3 | 4.2 | 4.8 | 3.9 | VN_10 | |
250.1 | 251.1 | 1.0 | 1.0 | 3.9 | 2.9 | VN_09 | |
CB19-416 | 182.6 | 183.6 | 1.0 | 1.0 | 4.0 | 4.3 | – |
241.6 | 242.6 | 1.0 | 1.0 | 7.4 | 5.9 | VN_25 | |
253.7 | 254.7 | 1.0 | 1.0 | 4.5 | 5.0 | VN_08 |
Intervals in bold are cited in the text of this press release. Only intercepts averaging over 3 g/t Au when diluted to a minimum 3 meters true width are stated. Hole coordinates and azimuth/dip information accompany the plan view attached to this release.
A plan showing drill hole locations can be accessed by clicking HERE.
Underground drill holes UGCB-153 and 154 were sub-horizontal holes drilled from two different locations in the North Zone workings and both reached their objective of intersecting the south-westerly extension of vein VN_02. Hole UGCB-155, drilled to the east, intersected multiple veins including 6.1 meters (true width) grading 11.9 g/t Au (VN_05, 06, 07). Holes CB19-410, and 413-416 were drilled from surface to test for multiple veins at deeper elevations in the North Zone resource, with a best intercept of 8.5 g/t Au over 11.1 meters true width in vein VN_10.
Precious metal mineralization at Cerro Blanco is associated with classic low sulphidation adularia-sericite epithermal quartz veins and vein swarms hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades (>20 g/t Au and >60 g/t Ag) are associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.
Quality Analysis and Quality Control
Assay results listed within this release were performed by Inspectorate Laboratories (“Inspectorate”), a division of Bureau Veritas, which are ISO 17025 accredited laboratories. Logging and sampling are undertaken on site at Cerro Blanco by Company personnel under a QA/QC protocol developed by Bluestone. Samples are transported in security-sealed bags to Inspectorate, Guatemala City, Guatemala, for sample preparation. Sample pulps are shipped to Inspectorate Laboratories in Vancouver, BC, Canada or Reno, NV, USA, and assayed using industry-standard assay techniques for gold and silver. Gold and silver were analyzed by a 30-gram charge with atomic absorption and/or gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples. Quality control is further assured by Bluestone’s QA/QC program, which involves the insertion of blind certified reference materials (standards) and field duplicates into the sample stream to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory. A selection of samples is submitted to ALS Chemex Laboratories in Vancouver for check analysis and additional quality control.
Qualified Person
David Cass, P.Geo., Vice President Exploration, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the scientific and technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.
Base Shelf Prospectus
The Company is pleased to announce that that it has filed a final short form base shelf prospectus (the “Final Prospectus”) with the securities commissions in each of the provinces of Canada, except Quebec.
The Final Prospectus will, subject to the filing of a shelf prospectus supplement (the “Prospectus Supplement”), allowing Bluestone to offer up to an aggregate of C$200,000,000 of common shares, preferred shares, debt securities, subscription receipts, units, warrants and share purchase contracts from time to time over the 25-month period, until the Final Prospectus expires on October 26, 2021.The specific terms of any future offering will be established in a Prospectus Supplement, which will be filed with the applicable Canadian securities regulatory authorities.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualifications under the securities laws of any such jurisdiction.
A copy of the Final Prospectus may be obtained from the Corporate Secretary of the Company by directing a request to Bluestone at Suite 1020, 800 West Pender Street, Vancouver, British Columbia, Canada, V6C 2V6, Attn: Corporate Secretary, or can be downloaded from SEDAR at www.sedar.com.
About Bluestone Resources
Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100%-owned Cerro Blanco Gold and Mita Geothermal projects located in Guatemala. A Feasibility Study on Cerro Blanco (see press release January 29, 2019) returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs). The Company trades under the symbol “BSR” on the TSX Venture Exchange and “BBSRF” on the OTCQB.
On Behalf of Bluestone Resources Inc.
“Darren Klinck”
Darren Klinck | President, Chief Executive Officer & Director
For further information, please contact:
Bluestone Resources Inc.
Stephen Williams | VP Corporate Development & Investor Relations
Phone: +1 604 646 4534
info@bluestoneresources.ca
www.bluestoneresources.ca
- Published in Bluestone Resources, Mining, News Home
Sirona Biochem to Present Additional Clinical Results of TFC-1067 at Cosmetic 360 in Paris, France
Momentum Public Relation
Press Release: September 25, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (US-OTC: SRBCF) (“Sirona“) announced that its Chief Scientific Officer, Dr. Geraldine Deliencourt-Godefroy, will represent Sirona at Cosmetic 360 in Paris, October 16-17, 2019. Since 2015, Cosmetic 360 has become an exclusive international event that allows the most influential cosmetic companies and industry decision makers to access the latest advancements in science.
Dr. Deliencourt-Godefroy will be joined by lab colleague Dr. Jocelyne Legoedec as well as Ms. Michelle Seltenrich, Vice President Operations, to present the most recent advancements of Sirona’s novel skin lightener, TFC-1067. Additional detailed clinical results will be available, and the team will have the opportunity to meet one-on-one with international skincare companies and explore potential collaborations for this innovative compound. Thanks to compelling clinical evidence of superiority to selectively remove dark spots in comparison to a leading brand containing hydroquinone, previous challenges to partnering have been overcome and Sirona is now well positioned with TFC-1067.
“Our recently completed licensing and supply agreement with Rodan + Fields validated our science and confirmed the Company’s ability to commercialize TFC-1067. This puts us in a much stronger position when entering discussions with companies interested in this compound. We anticipate significant interest in Europe where hydroquinone is banned because of its toxicity. Michelle Seltenrich has been involved in licensing and M&A throughout her career and was instrumental in completing the Rodan + Fields agreement beginning with the very first introductory meetings through to its successful completion. I have chosen the current team with great confidence they will open doors to a new partnering opportunity for TFC-1067,” said Dr. Howard Verrico, CEO of Sirona Biochem.
“With TFChem being based in France and the tremendous government support we receive, there is great excitement in attending Cosmetic 360. This event is also sponsored in part by Rodan + Fields. In the past, interested companies have looked for clinical proof of efficacy for TFC-1067. We now have that, and I anticipate this to be an outstanding opportunity to showcase our achievements,” reports Dr. Deliencourt-Godefroy. “We are fully committed and dedicated to expanding the commercial opportunities to bring TFC-1067 to the global marketplace, and this is our primary focus in attending Cosmetic 360,” said Dr. Deliencourt-Godefroy.
About Cosmetic 360
Cosmetic 360 is an innovative-centered trade fair for the cosmetic industry. The conference brings together professionals and industry representatives from all over the world. All facets of the cosmetic industry are represented at the conference including raw materials, formulation, packaging, testing and analysis, finished products, and distribution. More information on the conference can be found at www.cosmetic-360.com/en.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
- Published in Life Sciences, News Home, Sirona Biochem
Silver Spruce Resources appoints Penney interim CFO
Momentum Public Relation
Press Release: September 25, 2019
Silver Spruce Resources Inc. has appointed Dr. Brian Penney, PhD, DIC, PEng, as interim chief financial officer of the company to replace Gordon H. Barnhill, who passed away Aug. 28, 2019.
Dr. Penney has been chairman of Silver Spruce Resources since 2016. He has also served as chairman of the audit committee since that time. He has extensive experience in guiding early-stage companies, both as chief executive officer and chairman. Recent positions include founding CEO of TARA, a Halifax-based telecom research and development firm; chairman and CEO of Abridean Inc., a software company; chairman and CEO of CarteNav Solutions Inc., a mission software company in Halifax; chairman of Intertainment Media Inc., a TSX Venture Exchange new media incubator company in Toronto; CEO and chairman of e-djuster Inc., a leading insurance services company in Ottawa. Companies of which he was chairman or CEO have collectively increased shareholder value by over $1-billion.
He has been a board member of several government and academic-industry boards, including the Communications Research Centre and CANARIE. Earlier in his career, he held various research and academic positions in physics and in computing science and worked as a software engineer, system architect and development manager at Bell Northern Research and other companies in the telecommunications industry.
Dr. Penney holds a PhD in high-energy nuclear physics from Imperial College of Science & Technology, University of London, and is a professional engineer and is licensed as a commercial pilot.
About Silver Spruce Resources Inc.
Silver Spruce Resources is a Canadian junior exploration company pursuing development of the Pino De Plata project in western Chihuahua state in Mexico. The company has signed a letter of intent to acquire 100 per cent of the Melchett Lake zinc-gold-silver project in Northern Ontario, Canada, and a binding letter of agreement to acquire 100 per cent of the advanced Cocula gold project in Jalisco state, Mexico.
- Published in Mining, News Home, Silver Spruce Resources
Silver Spruce Announces Melchett Lake VMS Project Acquisition
Momentum Public Relations
Press Release: September 24, 2019
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) (“Silver Spruce” or the “Company”) is pleased to announce that it has signed a binding Letter of Intent (“LOI”) with three parties (the “Vendors”) to acquire 100% of the Melchett Lake Zn-Au-Ag volcanogenic massive sulphide (“VMS”) project, an advanced precious and base metal project in the Thunder Bay Mining District, northern Ontario, Canada.
The 1,820 hectare project is located within an active exploration and mining region north of Geraldton including Copper Lake’s Marshall Lake VMS project, Premier Gold’s Hardrock-Greenstone Au mine and past-producing Anaconda-Dofasco iron mine and the Skibi Lake and Stewart Lake iron prospects, and along one of the access routes proposed northward from Nakina to the Ring of Fire Ni-Cr-Cu-PGE exploration projects. The Ontario Geological Survey Exploration Highlights in 2016-2017 reported “The potential of discovery of economic zinc-lead-silver-gold-bearing VMS deposits in the Melchett Lake greenstone belt is high.”
Letter of Intent
The principal terms to purchase 100% interest in the Property include CAD$150,000 in cash payments and CAD$250,000 in Silver Spruce common shares, payable on signing and annual payments spread over three years. Minimum work expenditures total CAD$1,000,000, with CAD$100,000 during the first year, CAD$200,000 in the second year and CAD$700,000 prior to the third anniversary. The Vendors will retain a two percent Net Smelter Return royalty of which 1% can be purchased by the Company for $1,000,000 and the remaining 1% at market price. Silver Spruce has a 90-day window after signing the LOI to carry out its due diligence and prepare a Definitive Agreement (“DA”) for the Property acquisition.
“We are very pleased to acquire the Melchett Lake VMS-Au Property and the Company is quickly advancing its due diligence to support a decision to earn a 100% interest in the project,” stated Karl Boltz, CEO of Silver Spruce. “The multi-kilometre strike length of the known areas of mineralization, depth potential indicated by the Maxwell modelling, broad intervals of mineralization, intense alteration profile similar to well-known polymetallic deposits, and presence of high grade values of both precious metals and base metals clearly provide the Company with an opportunity to grow with the strong gold, silver and zinc markets. Furthermore, our Director, Greg Davison, MSc, PGeo, has first-hand experience on the Melchett Lake area, having worked the area as Project Manager and VP Exploration for Kerr Addison Mines (1983-1984) and Tribute Minerals (1999-2002), respectively.”
Mineralization
The Melchett Lake belt contains several occurrences of polymetallic Zn-Pb-Cu-Ag-Au VMS style mineralization similar in character to ore deposits exploited at Mattabi, Winston Lake, Geco and Uchi Lake. Base metal mineralization consisting of pyrite, sphalerite, chalcopyrite and galena occurs within the felsic metavolcanic sequences of the Property. There are locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and gold grades to 26.1 g/t Au, silver grades to 560 g/t Ag and zinc grades to 19.1%. The mineralization is interpreted to occur as paleo-topographic accumulations related to fumarolic activity forming polymetallic deposits overprinted by a later stage gold-rich event.
Qualified Person
Greg Davison, MSc, PGeo and Silver Spruce Director, is the Company’s internal Qualified Person for the Melchett Lake Project and is responsible for the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino De Plata project, located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico. The Company has signed a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico, and a Letter of Intent to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, Canada. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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. The company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
Sirona Biochem Signs Definitive License & Supply Agreement with Skincare Industry Leader Rodan + Fields
Momentum Public Relations
Press Release: September 18, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (US-OTC: SRBCF) (“Sirona“) is excited to announce that it has completed a definitive agreement with Rodan + Fields, LLC (“Rodan + Fields”), the leading skin care brand in the United States1, for the licensing and commercial sales of novel ingredient TFC-1067 to brighten and even skin tone. Rodan and Fields will be the first to market for a consumer product utilizing TFC-1067 in certain countries including United States.
Under the terms of the agreement, Sirona will receive an upfront and milestone payments as well as on-going revenue in return for the manufacture and supply of TFC-1067, a novel, new skin brightening ingredient, for use by Rodan + Fields on a non-exclusive basis and Rodan + Fields will launch a new product incorporating the ingredient. Further details of this agreement will remain confidential for strategic reasons. Both Sirona and Rodan + Fields look forward to a mutually beneficial long-term relationship.
“Sirona’s board concluded that working on a non-exclusive basis will enable us to advance, in parallel, on multiple global partnerships. We are therefore continuing active partnering discussions regarding TFC-1067. Ultimately, we will achieve maximum commercial value by penetrating the numerous sales channels and territories available. This will enable us to capture a larger portion of the global skin lightening market with TFC-1067”, reports Dr. Howard Verrico, CEO of Sirona Biochem.
The agreement also establishes regular meetings between Sirona’s and Rodan + Field’s scientists to explore future collaborations on new consumer products. This brings together the full spectrum of expertise to take early stage concept through to an innovative formulated product worthy of the Rodan + Fields skin care philosophy.
Contract Research Organization (CRO) Roowin (www.roowin.com) has developed a chemical process required for large scale manufacturing of TFC-1067 and has now been instructed by Sirona to begin manufacturing to fill anticipated orders for the product launch.
“The commercial validation of our platform technology represents a major milestone for Sirona’s team. This agreement marks a first step in the introduction of TFC-1067 into key markets and the launch of TFC-1067 into the global market”, added Dr. Verrico. “We have worked through extensive due diligence and built a good relationship with Rodan + Fields. We are very pleased to be working with the number one skincare brand in the U.S.2 for the launch of our innovative and superior skin brightening compound, TFC-1067. Moreover, we are looking forward to update our shareholders about our progress in China in due course.”
“As a company committed to innovation, Rodan + Fields continually seeks out novel and ground-breaking technologies. We’re excited to partner with Sirona to commercialize this highly novel new molecule in an up-and-coming product release and deliver the well-validated benefits to our consumer base”, said Dr. Simon Craw, Senior Director R&D Business Development at Rodan + Fields. “Developing long-term strategic relationships with biotech companies is part of Rodan + Fields’ DNA, and in Sirona we see an innovation-focused company we can work closely with over the next several years”, Dr Craw continued.
About Rodan + Fields
Founded by Stanford-trained dermatologists Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields was launched in 2002 with the mission of giving consumers the best skin of their lives. The brand is a result of the Doctors’ belief that healthy skin empowers people to feel confident. Born in the digital era and designed to directly reach consumers where they live and shop via mobile and social networks, Rodan + Fields is disrupting the industry with its regimen-based skincare and powerful Independent Consultant community.
For more information, please visit www.rodanandfields.com.
________________________ |
|
1 |
Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skincare includes Sets & Kits |
2 |
Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skincare includes Sets & Kits |
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2019/18/c9185.html
Contact:
Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com;
Corporate Enquiries: Dr. Howard Verrico, CEO, Chairman of the Board, Sirona Biochem Corp., Phone: 1.604.641.4466, Email: info@sironabiochem.com;
Rodan+ Fields, Corporate Communications + PR, Email: corporatepr@rodanandfields.com
- Published in Life Sciences, News Home, Sirona Biochem
Crystal Lake Intersects 15.11 g/t Gold over 8 Metres at Newmont Lake Project, BC
Momentum Public Relations
Press Release: September 18, 2019
Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce the intersection of shallow high-grade gold mineralization at Crystal Lake’s Newmont Lake Gold Corridor. The new results are crucial as they provide evidence of a thick unit of unusually high-grade gold mineralization within a broad envelop of continuous low-grade gold mineralization. This discovery is important as it demonstrates that the mineral zone actually increases in both width and in grade in areas where previous models indicate a narrowing of the mineral zone. Additionally, a second deeper horizon has been intersected in an area without gold mineralization in previous models adding to the exploration potential of the Newmont Lake gold corridor along the western flank of the Eskay Rift in NW BC.
The first diamond drill core assay results from ongoing drilling at the NW Zone underscore the potential for higher grades and increased continuity of grade which can result in significant expansion of the historic mineralization while brand new high-grade domains are targeted elsewhere along the gold-bearing McLymont Fault and numerous associated splay faults.
Highlights:
- The second of three drill holes, building on the northern extension of the Northwest zone, intersected 15.1 g/t Au over 8.03 metres (106.32 metres to 114.35 metres), including 76 g/t Au over 1 metre, in addition to an even shallower high-grade intercept of 7.6 g/t Au, 23.1 g/t Ag and 1.03% Cu over 5.30 metres starting just 82 metres downhole (including 26.1 g/t Au over 1.3 metres);
- These two shallow high grade gold zones form a thick continuous intercept of 44 metres (82 metres to 126.13 metres, approximate true width) grading 4.03 g/t Au, 4.06 g/t Ag and 0.29% Cu, in addition to a deeper wide interval of disseminated gold mineralization (77 metres @ 0.29 g/t Au) starting 157 metres downhole which points to the potential for new discoveries including more high-grade mineralization at depth;
- Ongoing drilling of this significantly upgraded portion of the NW Zone Historic Resource* has encountered visually similar mineralization in the third hole completed along section with an estimated down-dip step out of approximately 22 to 30 metres. Assays are pending.
- The fourth hole on section in the Newmont Lake Gold Corridor is ongoing.
Dr. Peter Lightfoot, Technical Adviser to Crystal Lake, commented: “The western flank of the Eskay Rift is endowed with significant high-grade mineralization styles that fit with a wide range of deposit models, and require very efficient pathways for fluids and magma to migrate from depth to the surface and form ore deposits. The gold mineralization developed along the western flank of the Newmont Lake graben is part of this wider mineral system, and Crystal Lake is aggressively developing an understanding of how the high-grade gold mineralization relates to the McLymont fault, its subsidiary faults and associated hydrothermal breccias.”
Assay Highlights from Newmont Lake Gold Corridor Second Drill Hole (NWDDH19-012)
NWDDH19-012 |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Interval |
82.00 |
123.13 |
44.13 |
4.03 |
4.06 |
0.29 |
Including |
87.00 |
92.30 |
5.30 |
7.57 |
23.10 |
1.03 |
Including |
91.00 |
92.30 |
1.30 |
26.15 |
20.25 |
1.20 |
Also Including |
106.32 |
114.35 |
8.03 |
15.11 |
4.29 |
0.68 |
Including |
106.32 |
107.32 |
1.00 |
16.16 |
5.13 |
0.66 |
Including |
111.35 |
112.35 |
1.00 |
76.56 |
11.54 |
0.47 |
Including |
112.35 |
112.35 |
1.00 |
11.62 |
1.26 |
0.02 |
Interval |
157.00 |
234.15 |
77.15 |
0.29 |
0.30 |
0.03 |
Collar Coordinates for Newmont Lake Gold Corridor Second Drill Hole (NWDDH19-012)
Hole ID |
Easting (m) |
Northing (m) |
Azimuth (°) |
Dip (°) |
Depth (m) |
NWDDH19-010 |
381288 |
6300915 |
298 |
55 |
198 |
NWDDH19-012 |
381288 |
6300915 |
296 |
75 |
261 |
NWDDH19-017 |
381288 |
6300915 |
247 |
90 |
264 |
NWDDH19-020 |
381288 |
6300915 |
121 |
70 |
120 |
The Historic Resource* (historic inferred resource) that contains 1,406k tonnes at an average grade of 4.43 g/t Au, 0.22% Cu and 6.4 g/t Ag at a projected “base case” cut-off grade of 2 g/t Au containing 200,000 oz Au, 6.79 million lbs of copper and 291,000 oz of silver (Mineral Resource Estimate on the North West Zone, Newmont Lake Property, submitted to Romios Gold Resource Inc., May 11, 2007). This resource estimate was based solely on the drill hole data collected by Gulf Minerals in the late 1980’s and early 1990’s.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
Quality Assurance/Quality Control
Drill core samples from the Northwest Gold Zone were sent to MSALABS’ preparation facility in Terrace, B.C., where samples were prepared using PRP-910 method. Core Samples were dried, crushed to 2mm, split 250g, and pulverized to 85% passing 75 microns. Prepped samples were sent to MSALABS’ analytical facility in Langley B.C., where 50g pulps were analyzed for gold using the FAS-211 method, fire assay AAS finish. Core samples were analyzed for 53 elements using the IMS-230 method, multi-element ICP-MS 4-acid digestion, ultra fine trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead, and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Crystal Lake Mining conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples, and two field duplicates are inserted for every 100 samples when analyzing core samples.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
Phone: 1-604-440-8474
- Published in Crystal Lake Mining, Gold, Mining, News Home
Silver Spruce Receives Drill Permit for Cocula Gold Project
Momentum Public Relations
Press Release: September 17, 2019
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) is pleased to announce that it has received approval of its Informe Preventivo, the environmental application required for drilling at the Cocula gold project in Jalisco State, Mexico.
The permit allows for forty-seven (47) drill sites over the 750-metre strike length of the known mineralized area. The Company is preparing a drilling strategy to evaluate the current mineralization and new exploration targets identified in recent geological mapping.
“With surface access agreements and the drill permit in place, the Company is quickly advancing its technical studies to support a decision to earn a 100% interest in the project,” stated Karl Boltz, CEO of Silver Spruce. “We continue to check the boxes we require in order to prepare and execute a definitive purchase agreement with all parties for the project. So far, the results from surface geological mapping, chip and trench sampling and assaying, check assaying of the historical reverse circulation drill chip samples and re-interpretation of the drill sections, and recent completion of an independent 43-101 report have been quite positive.”
The occurrence of widespread gold mineralization at surface, including high grades of select samples (12.55 grams per tonne (g/t) gold (“AU”), 16.65 g/t Au and 23.7 g/t Au) assayed from rock and drill chip sampling, indicate robust gold mineralization along with significant silver and base metal values.
The Company will continue its due diligence designed to support a definitive purchase decision, subject to its binding Letter of Agreement with ProDeMin, SA de CV (“ProDeMin”).
Qualified Person
Dr. Craig Gibson, Ph.D., CPG, Qualified Person, is responsible for the technical content of this press release.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino de Plata project, located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico. The Company has signed a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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. The company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Gold, Mining, News Home, Silver Spruce Resources
Canada Cobalt Closes Over-Subscribed Private Placement for $728,000
Momentum Public Relation
Press Release: September 12, 2019
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that the Company has closed the second and final tranche of its recently announced private placement with strategic investors at 30 cents per unit, raising gross proceeds of $728,000 for the two tranches.
Proceeds of the private placement will be used to immediately accelerate the company’s various initiatives at the Castle mine and property in the Gowganda Silver-Cobalt Camp, and for general working capital purposes.
A total of 1,016,667 units were issued in the second tranche ($305,000) with each unit consisting of one common share in the capital of the Company and one share purchase warrant. Each warrant entitles the holder to purchase one share of the Company for a period of 24 months from closing at an exercise price of 50 cents per share.
All securities are subject to a four-month-and-a-day hold period expiring on January 14, 2020, in accordance with applicable securities laws. The private placement is subject to the final approval of the TSX Venture Exchange.
Finder’s fees of $525 and 1,750 broker warrants, on the same terms as the private placement warrants, are payable for the second tranche. Closing of the first tranche, announced September 6, 2019, was for a revised total of $423,000 (1,410,000 units), bringing both tranches to an over-subscribed total of $728,000 (2,426,667 units).
About Canada Cobalt Works Inc.
Canada Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario. With underground access at Castle, a 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 while it also exploits a powerful new silver-gold market cycle.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/September2019/13/c9586.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
- Published in Canada Cobalt Works, Mining, News Home
Crystal Lake Mining Adds Major New Investor
Momentum Public Relation
Press Release: September 12, 2019
Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce that it has closed $1,438,000 (4,793,333 units) as the first tranche of a proposed $1.5 million private placement of hard dollar units at 30 cents per unit (5,000,000 units), subject to TSX Venture Exchange approval (see further details below).
Mr. Rob McEwen has purchased 1,666,667 units ($500,000) of the private placement through his wholly owned company Evanachan Limited. Mr. McEwen is the Chairman and Chief Owner of McEwen Mining Inc. and is the Founder and former Chairman and CEO of Goldcorp Inc., recently acquired by Newmont.
Richard Savage, Crystal Lake President and CEO, commented: “We are pleased to welcome Rob McEwen as a strategic new shareholder. Mr. McEwen has a very successful track record, having grown Goldcorp’s market capitalization from $50 million to over $8 billion dollars. He is a strong believer in the precious metal and commodity markets, and we are grateful to include him as a shareholder with us all.”
Proceeds of this private placement will be used to advance the Company’s Newmont Lake Project, where a drill program continues in Northwest British Columbia’s prolific Eskay Camp, and for general working capital purposes.
Private Placement Details
Each unit of the private placement, consisting of five million units at 30 cents per unit, includes one common share in the capital of the Company and one-half of a share purchase warrant. Each full warrant entitles the holder to purchase one common share of the company for a period of 24 months from the closing of the offering at an exercise price of 35 cents per share. The securities will be subject to a four-month hold period and finder’s fees may be payable to qualified parties.
Insiders of the Company subscribed for 76,667 units, with Wally Boguski, COO and a director of the Company, subscribing for 30,000 units and Maurizio Napoli, VP Exploration of the Company, subscribing for 46,667 units. As a result, the Private Placement is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company relied upon the “Issuer Not Listed on Specified Markets” and “Fair Market Value Not More Than $2,500,000” exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, the largest land package among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
SOURCE Crystal Lake Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2019/12/c7272.html
Contact:
Momentum Public Relations, Tel: +1 (450) 332-6939
- Published in Crystal Lake Mining, Mining, News Home
North Bud Farms Restructures Proposed California Operations with Signing of Offer to Purchase 11-Acre Property in Salinas, California
Momentum Public Relation
Press Release: September 12, 2019
North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that Bonfire Brands USA, a wholly owned subsidiary of NORTHBUD, has entered into a land purchase agreement with the Qlora Group to acquire a fully operational Cannabis farm consisting of approximately 300,000 sq. ft. of greenhouse capacity located in Salinas, California. With the near 11-acre cultivation facility comes additional licenses for processing and distribution. The transaction is valued at USD$11 million.
The facility in Salinas, California is currently licensed and operating a 60,000 sq. ft. greenhouse capable of producing 12,000 kg a year and holds the approval to expand up to approximately 300,000 sq. ft. of capacity with estimated yields of 60,000 kg a year. This infrastructure will serve as the primary operation for Bonfire Brands USA within the state of California, which is considered to be the largest cannabis market in the United States.
“Over the past seven months we have observed an evolution in the California market,” stated Justin Braune, President of Bonfire Brands USA. “Many existing legacy operations have been unsuccessful in transitioning their businesses into the adult use market post January 1st, 2019. Supply issues and licensing time frames have caused widespread re positioning of market shares amongst many verticals. Since the creation of Bonfire, we have determined that the acquisition of strategic licensed infrastructure will provide Bonfire with the most efficient operational structure possible. By controlling the complete vertical in one location per state we will have the capacity to increase both our offerings and margins. This will enable us to further improve our own brands as well as we work with complementary partners over a wide spectrum of product segments.”
Transaction Terms
Bonfire Brands USA entered into the land purchase agreement effective September 9, 2019. The purchase price of the land is USD$8M. As part of the 60-day escrow agreement Bonfire Brands USA will make an initial deposit of USD$500,000. The remaining USD$7.5M mortgage will be held by the seller at a fixed interest rate. Over the first 12 months, Bonfire Brands USA will make interest only payments before entering into a traditional principal and interest mortgage. Upon successfully transferring all licenses from Monterey Holdings to Bonfire Brands USA, the Company will issue a convertible debt note in the amount of CAD$2.5M. The debt note will be redeemable in four equal installments to be paid in cash or common shares of NORTHBUD (valued at the 30-day VWAP of the common shares on the CSE) at the discretion of the note holder. If the note holder chooses to redeem in cash, then the installment will be paid in monthly installments over a 3-month period. Any issuance of common shares of NORTHBUD will be subject to receipt of applicable regulatory approvals, including that of the CSE, and standard restrictions on resale.
Upon closing of the real estate transaction, it is expected that Bonfire Brands USA will begin to immediately operate the facilities under an operations agreement until the license transfer is complete.
In addition, Bonfire Brands USA intends to acquire the remaining assets of the Qlora Group related to the brands “California Bud Co.” and “Live For The Day” (LFTD) in exchange for common shares of NORTHBUD. Qlora Group advises that the brands accounted for USD$4.5M in unaudited revenue in 2018. This transaction is expected to take approximately six months to complete for a consideration of USD$500,000.
The Transaction is a significant acquisition but will not result in a “Fundamental Change” pursuant to the policies of the CSE. NORTHBUD will be preparing the necessary corporate and securities filings in order to secure the required approvals for the Transaction.
NORTHBUD has agreed to pay up to 5% in finder fees to arm’s length parties in connection with the closing of the Transaction. The fee is payable in common shares of NORTHBUD.
The closing of the Transaction is conditional on the receipt by the parties of applicable corporate and regulatory approvals including that of the CSE.
U.S. Expansion Update
NORTHBUD is pleased to have solidified its California expansion strategy with this this proposed transaction with Qlora Group and in light of this development and other factors NORTHBUD has agreed to mutually terminate the previously announced letters of intent regarding Eureka Vapor and Tanforan Ventures LLC. Mr. Justin Braune, President of Bonfire Brands USA will lead all NORTHBUD’s U.S. operations.
“Over the past seven months we have been working diligently to complete these transactions, however, during this time the market in California has evolved significantly,” said Ryan Brown, CEO of NORTHBUD. “When the opportunity to purchase licensed real estate in one of the most desired cultivation climates in the state presented itself, we felt that this was the best strategy to maximize revenue as well as protecting shareholder value. The acquisition of this property will provide NORTHBUD with larger revenue potential and significantly less dilution than the previous proposed transactions. We look forward to a potential collaboration with both companies in the future and wish them the best of success.”
The Nevada Botanical Science LOI agreement is still in place and the Company will update shareholders on material progress related to that transaction in due course.
While the proposed transactions involving Nevada Botanical Science and Monterey Holdings are complementary, they are independent and the Company may ultimately proceed to close one, both or none of the proposed transactions, depending on market conditions and regulatory requirements.
Corporate Update
NORTHBUD is pleased to update shareholders that the Evidence of Readiness Package was submitted to Health Canada and upon issuance of a standard cultivation licence from Health Canada, NORTHBUD will be ready to begin Canadian operations.
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act. The Company has built a state-of-the-art purpose-built cannabis production facility located on 135 acres of Agricultural Land in Low, Quebec, Canada. NORTHBUD through its wholly owned U.S. subsidiary, Bonfire Brands USA has entered into agreements to acquire assets in California and Nevada.
For more information visit: www.northbud.com
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements and information included in this press release that, to the extent they are not historical fact, constitute forward-looking information or statements (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. This press release contains forward- looking statements including those relating to the entering into of the Definitive Agreement and closing of the Transaction with Qlora. Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risk factors included in the Company’s final long form prospectus dated August 21, 2018, which is available under the Company’s SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statements to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
Edward Miller
VP, IR & Communications
Office: (855) 628-3420 ext. 3
investors@northbud.com
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