Silver Spruce Terminates Agreement for Cocula Project
Momentum Public Relations
Press Release: November 29, 2019
Silver Spruce Resources Inc. (TSXV:SSE)(FSE:S6Q1) (“Silver Spruce” or the “Company”) has concluded its due diligence and will not negotiate a Definitive Purchase Agreement to acquire the Cocula project (“Cocula”) in Jalisco State, Mexico.
Subject to its binding Letter of Agreement (“LOA”) with ProDeMin, SA de CV (“ProDeMin”) signed on July 13, 2019 and amended on September 10, 2019 (“Amendment”), Silver Spruce provided written notification on November 28, 2019 to ProDeMin to terminate the LOA and Amendment to acquire Cocula.
As per the Amendment, such written notice may be provided at any time prior to midnight ET, November 30, 2019, without further recourse or liability, and with no further obligation to assume the Contract.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed a Definitive Agreement to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario and is pursuing development of the Pino De Plata Ag project in western Chihuahua 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 Mining, News Home, Silver Spruce Resources
Colibri Resource Corp and Tocvan Ventures Finalize Option Agreement on Pilar Gold Project
Momentum Public Relations
Press Release: November 26, 2019
Colibri Resource Corporation (“Colibri” or the “Company”) wishes to announce that Tocvan Ventures has completed all necessary due diligence and has finalized their option agreement dated September 22nd with Colibri. The agreement allows Tocvan to acquire 51% interest in the Pilar project located in Sonora Mexico.
Under the terms of the agreement Tocvan has now advanced the first year’s cash payment of $125,000 to Colibri and issued 2,000,000 common shares of Tocvan to Colibri. Under the terms of the agreement Tocvan must now complete $2,000,000 of exploration on the property over five years, advance Colibri an additional $275,000 over the 5-year period with $50,000 due on the 1st anniversary date of the agreement and $75,000 due on the 3rd, 4th and 5th anniversary dates. Tocvan will also issue an additional 1,000,000 shares of the corporation to Colibri on the 3rd, 4th and 5th anniversary dates.
Once the above is satisfied Tocvan will have earned a 51% interest in the property and have the option to acquire the additional 49% interest by making a further $2,000,000 payment to Colibri and issuing a 2% NSR within 6 months of fulfilling the obligations listed above.
Mark Smethurst, a Director of Tocvan, commented: “The Pilar property has the right features and system to allow for great potential in defining a multimillion-ounce property.”
Ian McGavney, Colibri’s COO states: “The conclusion of this deal is significant for Colibri as the Company can now firmly focus on advancing its highly prospective Evelyn and El Mezquite gold projects to drilling phases. Colibri will continue to hold a significant interest in Pilar by way of owning a material amount of Tocvan shares and not need to dilute its own share structure to appreciate its upside.”
Colibri management anticipates near term news releases highlighting structure, mineralization and its path to drilling at Evelyn.
About Colibri Resource Corporation:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico. The Company currently has five active exploration properties at various stages of exploration.
For more information about all of our projects please visit: www.colibriresource.com.
We seek safe harbour.
SOURCE Colibri Resource Corporation
View original content: http://www.newswire.ca/en/releases/archive/November2019/26/c9636.html
Contact:
Ronald J. Goguen, President, Chairperson and Director, Tel:(506) 383-4274, rongoguen@colibriresource.com
- Published in Colibri Resource Corp, Mining, News Home
Silver Spruce Executes Definitive Agreement for Melchett Lake VMS-Au Project
Momentum Public Relations
Press Release: November 26, 2019
Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) (TSXV:SSE)(Frankfort:S6Q1) is pleased to announce the completion of its due diligence and the signing of the Definitive Option and Purchase Agreement (“DA”) on 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 (“Project” or “Property”).
“We are very pleased to complete the Definitive Agreement to acquire 100% interest in the promising Melchett Lake VMS property,” stated Greg Davison, Director of Silver Spruce. “We continue to update the multi-element data received this week from the recent due diligence sampling, while building our GIS database with revised drill hole co-ordinates, and geophysical and geological information focusing on the next phase of the ground truthing program and developing priority drill targets”.
Letter of Intent
Silver Spruce Resources Inc. signed a binding Letter of Intent (“LOI”) on September 9, 2019 to acquire 100% of the Property. Silver Spruce had a 90-day window to December 6, 2019 to carry out its due diligence and execute a DA.
Definitive Agreement
The principal terms of the DA, as per the LOI, to purchase 100% interest in the Property include CAD$150,000 in cash payments and five million Silver Spruce common shares, spread over three years. The initial payment to the Vendor of CAD$25,000 and 500,000 shares is due upon signing and TSX Exchange approval.
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, with all periods based from TSX Exchange approval of the DA. The Vendor will retain a two percent Net Smelter Return royalty of which 1% can be purchased by the Company for CAD$1,000,000 and the remaining 1% at market price.
Due Diligence
The recent project work was performed to verify the multi-kilometre strike length of the known areas of mineralization, 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 reported from the historical exploration. The team examined the principal showings and trenches, and drill core at the Relf and Nakina targets along the principal mineralized trend. A total of seventy-two (72) rock and core samples were collected, sixty (60) of which were submitted for multi-element geochemical analysis. Results of all samples are now in receipt and pending interpretation.
Geology and Mineralization
The Property, located within Melchett Lake greenstone belt of the English River Sub-province of the Archean-age Superior Province, is underlain by a bimodal mafic-felsic sequence of pyroclastics, tuffs and flows with cherts and Fe-lean to Fe-rich iron formation. The Melchett Lake belt contains several occurrences of polymetallic Zn- Pb-Cu-Ag-Au VMS mineralization similar to ore deposits exploited at Mattabi, Winston Lake, Geco, Brunswick and Rouyn-Noranda. Base metal mineralization consisting of pyrite, sphalerite, chalcopyrite and galena occurs within the intermediate to felsic metavolcanic sequences of the Property. There are locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and historical gold grades to 28.8 g/t Au, silver grades to 560 g/t Ag and zinc grades to 19.1%.
Highlights of the prospective geology, alteration and mineralization include multiple folded or stacked horizons of coincident alteration and metal mineralization, high Zn/Cu, Zn/Pb and Ag/Au ratios, extensive remobilization of major and trace elements with defined enrichment (Fe, Mg, Co, Cr, Cd) and depletion (Na, Sr, Ca) zones, and continuity, increased alteration and anomalous metal values over large intervals with a strong electromagnetic off-hole response. 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.
Silver Spruce (press release of Nov. 12, 2019) reported precious and base metal assay data from the first batch of thirteen (13) rock samples collected from the Nakina and Relf Zones. Zinc values range up to 14.7%, lead to 0.96%, copper to 0.52%, silver to 301 g/t, and gold to 0.737 g/t and clearly represent the polymetallic nature of the mineralization from both targets, particularly the Relf Zone. The samples exhibit low alkali content, favourable pathfinder ratios, e.g., Zn/Na, and elevated values of heavy metals, including Te, Bi, Se, Sb, Hg, Cd and In, associated with sphalerite, galena, chalcopyrite and pyrite observed in the rock samples.
For comparison with the current due diligence samples at the Nakina l Zone, historical sampling reported, in separate samples, 14.85% Zn and 28.8g/t Au from a pyritized felsic metavolcanic. Rock sampling of a pyritized felsic metavolcanic in the Nakina 2 Zone returned a value of 15.08g/t Au. Selected grab samples taken from the Relf Zone averaged 13.0% zinc (Zn), 1.2% lead (Pb), 0.26% copper (Cu) and 325g/t silver (Ag); best results received were 19.1% Zn, 2.2% Pb, 0.40% Cu, 565g/t Ag and 1.72g/t gold (Au). Gold mineralization in the Iron Lake area occurred within a sericite-silica altered felsic metavolcanic containing pyrite with chalcopyrite and sphalerite. Grab samples reported 7.7g/t Au, 13.05g/t Au and 13.48g/t Au. All of the metal values reported by past operators in the Melchett Lake area, were sourced from grab samples which may not be representative of the metal grades, and are historical in nature.
Maps and site photographs of the core and trenching areas are available on the Silver Spruce website at Melchett Maps and Melchett Photos, and the geological and GIS compilations will be reported and posted on the Company website in due course.
Qualified Person
Greg Davison, MSc, PGeo and Silver Spruce Director, is the Company’s internal Qualified Person (QP) 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. Mr. Davison explored the Melchett Lake area as Project manager and VP Exploration for Kerr Addison Mines (1983-84) and Tribute Minerals (1999-2002), respectively, and has a referral fee arrangement with the Vendor. Consulting geologist Luc LePage, MSc, PGeo was the manager of the on-site activities for the field program and is a QP 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 which has signed a Definitive Agreement to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario and is pursuing development of the Pino De Plata Ag project in western Chihuahua State, Mexico. The Company also has entered into a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico, and subject to ongoing due diligence. 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
Vanstar Announces the Sale of the Assets of Its Squidbet Platform
Momentum Public Relations
Press Release: November 26, 2019
The management of Vanstar Mining Resources Inc. (“Vanstar”) announces, following its press release of July 30, 2019, the signing of a letter of intent for the sale, in the form of an assignment, assets, all rights and interests of its Squidbet social platform to 56 Acquisitions Inc. (“56”), a Vancouver-based corporation.
Through this non-related party transaction, 56 will acquire 100% of the assets related to the Squidbet Project for $ 500,000 payable by the issuance of common shares (each, a “56 Share”) of 56 at a deemed price of $ 0.05 per Share 56.
The closing of the transaction is subject to certain conditions including satisfactory due diligence, the signing of a definitive asset purchase agreement, and the closing of a private placement of a minimum of $ 750,000 of units (each, a “56 Unit”) from 56 at $ 0.05 per unit with Vanstar’s interest for up to $ 250,000. Each “56 Unit” is composed of a “56” share and “56” warrant with an exercise price of $ 0.10 for a term of 24 months.
Closing of the transaction is expected no later than December 31, 2019. 56 expects to change its name to Focus Solutions Ventures at closing.
“We are very pleased to complete this transaction with 56 Acquisitions. Vanstar will now be able to fully refocus its activities in the mining sector, “said Guy Morissette, CEO of the company.
Depending on the regulations and authorizations to be obtained, it is expected that the shares obtained by this transaction will, in whole or in part, be redistributed as dividends to “Vanstar” shareholders at a later date.
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of this release.
About Nelligan Project
With respect to the Nelligan project, the company’s management is preparing a series of meetings with the Canadian financial community. Following an initial NI 43-101 assessment, Vanstar management recently released (October 22, 2019) an inferred resource of close to 3.2 million ounces of gold. This project, developed in collaboration with IAMGOLD Corporation (51%) and Vanstar (49%) has the potential to become one of the largest gold projects in Canada. Everything remains open both laterally and deeply.
In the coming months, additional metallurgical testing will be conducted to provide additional information on the metallurgical recovery of the various mineralization zones including the mineral resources of the Nelligan gold deposit and to help optimize the parameters of the treatment chart.
Drilling program planning is underway and will include a number of objectives including additional definition drilling to improve the categorization of resources and convert inferred resources to indicated resources as well as to assess the potential for increasing resources in these areas. deeper parts of the deposit and assess the extent of the resource along an assumed gold corridor of approximately 4 kilometers.
Regional exploration will also focus on defining and testing other priority exploration targets on the property.
Sources :
Guy Morissette, CEO
819-763-5096
Gary Claytens, VP – Western Corporate Development
604-761-3233
- Published in Mining, News Home, Technology, Vanstar Mining
Silver Spruce Resources Inc. (TSXVSE: SSE) A Fundamentally Attractive Investment On Two Key Flagship Projects
Silver Spruce Resources Inc. (TSXVSE: SSE) has expanded their footprint in recent months after a phenomenal start to the year that resulted in the stock rallying by more than 100%. Now that the expansion plans are solidified, the stock looks set to continue its reliable performance as its improving underlying fundamentals continue to affirm growth metrics and long-term prospects.
The company’s prospective mining projects provide clear evidence that a positive trend of market sentiments, as well as price action activity, is materializing. A string of surprising good news on the development of flagship projects continues to strengthen the company’s sentiments in the market.
The Pino De Plata Project in Chihuahua Mexico, and the Melchett Lake VMS Project in northern Ontario Canada affirm Silver Spruce Resources in the mining industry. The two prospective projects are at the heart of the company’s core business in the push for shareholders’ value in the mining industry.
Pino De Plata Project
Located in the prolific Sierra Madre Occidental silver-gold region in Mexico, Pino De Plata Project is one of Silver Spruce Resources flagship projects. First mined in the 1600s, the property is believed to contain high silver/base metals.
The Pino de Plata project provides Silver Spruce Resources with exposure to high silver and base metal values, including zinc, copper, and lead mineralization hosted in various veins, breccia and stockworks. A recently concluded exploration assessment yielded many silver values over 200 g/tonne. In some areas of the project, the company sampled over 1 kilo silver which can be viewed here: http://www.silverspruceresources.com/i/pdf/reports-and-tables/Pino-de-Plata-Assays-April-2019.pdf.
Silver Spruce Resources has already identified a systematic exploration program for the project. Currently, it is in the process of identifying potential drill targets.
Melchett Lake VMS Project
Melchett Lake VMS Project is another prospective silver, lead, gold and copper project located in the Thunder Bay Mining District in Ontario, Canada. Situated within an active exploration and mining region, the 1,820-hectare project is within an aggressive exploration and mining region.
Geological surveying and an exploration program have already affirmed the presence of a high economic bearing zinc, lead, silver, gold belt in the area. The project consists of 88 single cell mineral claims with first base metals reported in 1959.
Silver Spruce has signed a letter of intent with three parties to acquire 100% of the Melchett Lake Zn-Au-Aug project. The acquisition will grant it access to advance base metal projects in Northern Ontario, Canada.
Why Invest in Silver Spruce Resources
Silver Spruce Resources is a prospective junior exploration company with tremendous potential. A robust pipeline of high-grade mining projects means the company is on its way to generating significant value as exploration activities have already validated mineralization at the projects.
At the ‘identification of drill targets’ stage with Pino de Plata as well as the acquisition of the Melchett Lake Project, SSE is poised to diversify the company’s mineral deposits allowing investors to gain additional exposure to lead, zinc, silver, and gold mining.
An aggressive management team continues to investigate new opportunities in the mining industry, further affirming the company’s long-term prospects. The acquisition of the Melchett Lake Project as well as the Pino Del Plata project all but underscores the management’s focus on pursuing projects with tremendous potential in the industry.
The stock stabilizing above the $0.05 level, after hitting a $0.03 mark early in the year, indicates strengthened investor confidence amidst the ongoing exploration activities at the three flagship mining projects.
- Published in Mining, News Home, Silver Spruce Resources
Rio Silver Reports 2019 AGM Voting and Options Issuance
Momentum Public Relations
Press Release: November 22, 2019
Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce the voting results from its Annual General Meeting of Shareholders (the “Meeting”), held in Vancouver, British Columbia on November 15th, 2019. The total number of shares represented by shareholders present in person and by proxy at the meeting was 11.8 Million 27.63% of Rio’s issued and outstanding Common Shares.
All of the matters put forward before shareholders for consideration and approval as set out in the Company’s Management Information Circular dated 11th of October, 2019, were approved by the requisite majority of votes cast at the Meeting. The details of the voting results for the election of directors are set out below:
Nominee |
# Votes for |
% Votes for |
Steven Brunelle |
11,058,869 |
98.7 |
Chris Verrico |
11,058,869 |
98.7 |
Edward Badida |
11,207,282 |
100.0 |
Richard Mazur |
11,058,869 |
98.7 |
The shareholders also approved: (i) fixing of the number of directors of the Company at four; (ii) appointing MNP LLP, Chartered Accountants, as the Company’s auditor for the ensuing year and authorizing the directors to set the auditor’s remuneration; and (iii) confirming and approving the Company’s existing stock option plan.
The Company will file a report of voting results on all resolutions voted on at the Meeting on www.sedar.com shortly.
The Company also announces that it has granted 4,050,000 incentive stock options to management, directors and consultants of the Company. The options, to purchase common shares in the capital of the Company, will be at a price of $0.05 per common share with 3,200,000 having a term of 36 months and 850,000 a term of 18 months.
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.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee 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 market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws
SOURCE Rio Silver
View original content: http://www.newswire.ca/en/releases/archive/November2019/22/c8467.html
Contact:
Christopher Verrico, President, CEO, Tel: (604) 762-4448, Email: chris.verrico@riosilverinc.com, Website: www.riosilverinc.com
- Published in Mining, News Home, Rio Silver
EXMceuticals Inc. announces appointment of new CEO
Momentum Public Relations
Press Release: November 21, 2019
EXMceuticals Inc. (CSE: EXM) (FSE: A2PAW2) (the “Company” or “EXM”), a producer of cannabis extractions and refined ingredients for the pharmaceutical, nutraceutical, therapeutical and cosmetic industries is pleased to announce changes to its management structure following the recent granting of the Portugal R&D license.
The Portuguese R&D license for cannabis enables EXM to import raw material into Portugal and refine it inside the existing R&D facility and pilot refinery. EXM is now actively pushing forward with an initial cannabis importation, as well as the fit out and licensing of the sizable industrial facility that has been leased to the south of Lisbon. Once licensed and constructed, this facility will require a substantial amount of raw and processed cannabis material to be available for refining.
Given this license development and his background, Michel Passebon has offered to refocus his time and energy on EXM’s production activities, both biomass and isolate. EXM is now seeking to significantly expand its cultivation footprint and acreage, as well as build the larger refining facility in Portugal. As a result of this, Michel will voluntarily step away from being the CEO of the Company and will instead be the Chairman of EXMceuticals Farming BV as well as overall Head of Production for the EXM group. The board has asked Jonathan Summers to perform the role of CEO initially on an interim basis until the Company’s AGM. These changes are effective immediately.
“Michel has led the Company through a crucial period in 2019 both before and following the RTO listing and major progress has been made. Not only is EXM now entitled to conduct cannabis R&D activities in Portugal, but we have also conducted our first cannabis harvest in Uganda, as well as pushed forward a number of other cultivation license applications in Africa. With his extensive experience and knowledge as a senior agro-industrial engineer in various countries, Michel is the perfect candidate to help us expand in the promising African and European markets”, said Jonathan Summers. “EXM now has an exciting opportunity to construct an EU-GMP certified cannabis ingredients factory in Portugal. Combined with our outdoor cultivation operations, this will create a sizable high quality and low-cost supply chain for customers looking for cannabis ingredients.”
Adoption of omnibus plan and issuance of RSUs
The board of directors of the Company have adopted an omnibus equity compensation plan (the “Plan”) reserving 10% of the Company’s issued shares on a rolling basis for issuance pursuant to grants under the Plan. The Plan is intended to advance the interests of the Company by providing equity-based incentives to key persons, including directors, officers, employees and consultants of the Company. The Plan provides for the grant of stock options as well as share appreciation rights, restricted share units, deferred share units and performance share units to eligible participants. The Plan is being presented to shareholders for their approval at the upcoming annual shareholder meeting to be held on December 3, 2019. More information about the Plan, and a copy of the Plan, can be found in the Company’s management information circular dated October 15, 2019 available on SEDAR.
The Company grant 500,000 restricted share units under the Plan to Jonathan Summers in connection with his appointment as the Company’s Chairman in May of 2019, and subject to the Plan being adopted by the Company and approved by shareholders. The restricted share units have a deemed price of $1.35 per unit and entitle the holder to receive one share of the Company per restricted share unit, subject to vesting in equal annual installments over a three year period.
ON BEHALF OF THE BOARD OF DIRECTORS OF EXMCEUTICALS INC.
Jonathan Summers, Chairman and Chief Executive Officer
For further information contact:
Investor Relations
Email: investors@exmceuticals.com
Media Enquiries:
Email: media@exmceuticals.com
Europe – Jane Glover+44 (0) 203 757 4990
North America – Mélanie Guillemette: +1 819 668 2734
ABOUT EXMCEUTICALS
EXM is targeting the wellness and medical applications of cannabis. EXM’s activities are focused on the sustainable cultivation of cannabis and hemp, and the production of high-grade cannabis and hemp ingredients for the pharmaceutical, therapeutical, nutraceutical and cosmetic industries. The Company proposes to sell the produced ingredients to international markets. EXM is not a recreational cannabis company.
EXM was recently granted the required authorizations and permits in Portugal for its existing laboratory and pilot refinery for cannabis research. EXM has previously completed research projects with its university partners, Universidade Nova de Lisboa and Universidade Lusofona as well as applying for P2020 research grants. Following receipt of these unique Portuguese cannabis authorizations and permits, EXM is proceeding with its planned R&D program, lab work and testing. In addition to this more scientific mandate, EXM is now building a significantly larger refining facility in Portugal which once complete and licensed will be used by EXM as its base for distribution of cannabis ingredients in the EU and North America.
EXM has also submitted applications and undertaken negotiations with local governments and partners in Ethiopia, Malawi, Zambia, Eswatini and Burundi, in order to obtain licences to permit the cultivation of cannabis and hemp, as well as the processing, transformation and export of psychotropic and non-psychotropic cannabinoid ingredients. In Ethiopia, EXM is in its final stage of negotiation with the government for an agro-industrial park, of 4,000 hectares (9,880 acres) encompassing a free trade zone, for which EXM has already obtained land rights over 2,000 hectares (4,940 acres) in the Amhara region.
- Published in Cannabis, EXMceuticals, Marijuana, Medical Marijuana, News Home
Arctic Star arranges $1.3-million private placement
Momentum Public Relations
Press Release: November 19, 2019
Arctic Star Exploration Corp. has arranged for a private placement for gross proceeds of up to $1.3-million, issuing units at five cents per unit on a 1:5 postconsolidated basis (see the company’s news release dated Oct. 30, 2019). Each unit will comprise one common share and one common share purchase warrant, with each whole warrant exercisable into one common share at a price of 15 cents for a period of two years from closing.
All securities will be subject to a four-month hold period from the closing date. Finders’ fees may be paid in accordance with the TSX Venture Exchange policies. The private placement is subject to the approval of the TSX-V.
Proceeds of the private placement will be used for general working capital, to explore existing properties and possibly for potential future acquisitions.
- Published in Arctic Star Exploration, Mining
Northern Lights Confirms Assay Results from Secret Pass Gold Project
Momentum Public Relations
Press Release: November 19, 2019
Northern Lights Resources Corp. (the “Company” or “Northern Lights”) is pleased to announce assay results from rock and pulp samples taken from Secret Pass Gold Project in Arizona.
From 1984 to 1991, 140 exploration drill holes (totaling 15,000 metres) were completed on the Tin Cup and FM zones of Secret Pass Gold Project.
Figure 1 – Tin Cup Historic Drill Hole Locations and X Section
(Modified from Arrowstar Resources NI 43 – 101 Report, May 4, 2016. Note this information is historical and has not been verified by a qualified person under the guidelines of NI 43-101)
During site visits to Secret Pass in July 2019, Northern Lights collected 6 rock and selected 11 assay pulps from reverse circulation drill holes TC-10, TC-30, TC-32 and FM–4 (drilled by Santa Fe Pacific Mining between 1984-1986) as part of due diligence verification. All samples were collected by Mr. Alan Morris (CPG, QP) who maintained chain of custody until delivery of the samples to Bureau Veritas-ACME Labs in Elko Nevada for preparation and analysis. Bureau Veritas’ facility is accredited to the ISO 9001 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria.
The rock samples were crushed, split and pulverized to -200 mesh. The drill pulps were sieved and split. Analysis for gold, platinum and palladium was completed using a 30-gram fire assay fusion with ICP-ES finish (FA 330/530) with a lower limit of 2 parts per billion for gold and upper limit of 10000 ppb. Samples with gold assays greater than 10000 ppb are reanalyzed using a 50-gram fire assay fusion with gravimetric finish. All samples also were analyzed using a 36-multielemental geochemical package (AQ300). Sample splits of 0.5 g were leached in hot Aqua Regia and analyzed by ICP-ES with analytical results reported in ppm and ppb levels.
With reference to Table 1, the check assay results provide confirmation within an acceptable range of the historic results for the holes and intervals tested.
Table 1: Sample Assay Results
Source: Bureau Veritas Certificate of Analysis August 30, 2019
The Company is currently in the process of compiling all historic information and data on the project that will reviewed in an updated NI43-101 report.
The scientific and technical data contained in this news release was reviewed and approved by Gary Artmont (Fellow Member AUSIMM #312718), Head of Geology and qualified person to Northern Lights Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Or
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona. where Northern Lights is 100% owner; and the Medicine Springs silver-zinc-lead property located in Elko County Nevada where Northern Lights is earning 100%.
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
- Published in Mining, News Home, Northern Lights Resources
Canada Cobalt Appoints Matt Halliday as VP-Exploration
Momentum Public Relations
Press Release: November 18, 2019
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that Matt Halliday, P.Geo., has been appointed VP-Exploration of the Company, effective mid-December. He joins Canada Cobalt from Kirkland Lake Gold where he has been serving as Resource Geologist.
“We’re delighted to have an individual of Matt’s caliber join our team,” explained Frank Basa, Canada Cobalt President and CEO. “He and his family reside in Haileybury and he’s intimately familiar with the Northern Ontario Silver-Cobalt Camp. He’ll be working out of our new headquarters at ‘CCW PolyMet’ in nearby Cobalt following the acquisition. Matt will be responsible for all aspects of exploration and underground work at the Castle Silver-Cobalt mine and property, plus Beaver. He will also make important contributions to the business model at the PolyMet lab and processing centre.”
A graduate of Dalhousie University in 2007, Halliday honed his skills for almost eight years with SGS Geostat, known as global leaders in ore body modelling and reserve evaluation. Over the last 12 years he has focused on resource reporting and modelling while also gaining abundant experience with advanced field exploration including major drill programs in Ontario and Quebec.
“I’m really excited to take this position with Canada Cobalt as the Company has clearly emerged as the district leader among juniors in exploration, technology and development possibilities at a key point in the metals cycle,” stated Halliday. “At Castle there are multiple initiatives to focus on including a fresh drill program from surface before Christmas as we target a potential new deposit at Castle East within just two km of the three past Gowganda producers. The PolyMet acquisition is icing on the cake as it vertically integrates Canada Cobalt and adds an array of dynamic new opportunities to grow the Company.”
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/November2019/18/c6685.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
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