Canada Silver Cobalt Enters into Option to Acquire a High-Grade Nickel Copper Discovery
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it has entered into an option agreement with MagNor Resources (MagNor) dated October 26 , 2020 (the “Agreement”) whereby Canada Silver Cobalt may earn an undivided 100% Interest, subject to a 2% NSR, in the MagNor’s B2 property in Quebec, Canada. The property has 12 claims totaling 670 hectares (6.7km2). The Agreement is subject to TSX Venture Exchange (“Exchange”) acceptance.
Highlights of Property
The NNW-SSE mineralized zone is traceable along strike over 1 kilometer and is open in all directions.
A stripped zone exposed a length of 35m of massive sulphides 8-10m wide.
- A total of 6 grab samples were sent to ALS Laboratory in Val-d’Or for analysis of a package of multi-elements. Assay results returned massive Ni-Cu-Co mineralization (see Figure):
- 1.05 % Ni, 0.13 % Cu, 0.10 % Co
- 0.96 % Ni, 0.10 % Cu, 0.09 % Co
- 0.69 % Ni, 0.62 % Cu, 0.19 % Co
- for the epithermal veinlets associated with quartz injections:
- 9.28 % Cu, 18.2 g/t Ag, 0.34 g/t Au
- 2.97 % Cu, 5.7 g/t Ag, 0.29 g/t Au, 0.10 % Ni
- Anomalous values in Ti (1.1 %), P (0.45 %) and Mn (0.12 %) in mylonitic ferro-gabbro with 0.14% Cu associated with mineralization in pyrrhotite, pyrite and chalcopyrite stringers (5-10 %)
The B2 Ni Cu property contains new showings for Ni-Cu-Co that were discovered in August 2019 by Alain Berclaz & Frederic Bergeron. It is located in NTS 22E11 of the Saguenay Lac-St-Jean region of Quebec. The property is easily accessed by well-maintained logging roads and forest trails from the KM92 of the Passes Road (R250 & R251).
“With the increasing demand of lithium ion batteries for electric vehicles (EV), optioning this property fits well within the company’s battery metal development program” said Frank J. Basa, P.Eng CEO. “With high-grade near-surface mineralization, the company has mobilized a geological team to the site to plan an exploration program.”
Mineralization on the property is of three types
- Magmatic Ni-Cu-Co associated with anorthosite consisting of massive sulphides up to 5m wide, composed of 65-90% coarse-grained pyrrhotite (-pentlandite), pyrite, chalcopyrite and 10-30% host rock fragments.
- Magmatic Fe(-Ti-P-V) associated with anorthosite, leuco-gabbro, gabbronorite, norite and pyroxenite consisting of up to 5m-thick layers, lenses and veins of massive oxides (mainly magnetite).
- Epithermal Cu-Ag-Au associated with late pegmatitic quartz veins and monzogranite consisting of up to 1m-thick, semi-massive, brecciated stockwork, veinlets, and stringers of pyrite, chalcopyrite and bornite.
Terms of the Agreement
Pursuant to the terms of the Agreement, the Company may exercise the option with MagNor as follows:
- On Closing, making a payment of $62,500(1);
- 24 months from Closing, making a payment of $62,500(1);
- 36 months from Closing, making a payment of $62,500(1); and
- 36 months from Closing, incurring an aggregate of $100,000 in Exploration Expenditures on the Ni Cu property;
(1) | Payment can be made in cash or through the issuance of Canada Silver Cobalt shares at a price per common share equal to the volume weighted average trading price of the Company’s shares on the Exchange for the ten (10) trading days immediately preceding the Closing Date, at the option of the Company. |
All securities issued in connection with this transaction will be subject to a four month and a day hold period in accordance with applicable securities laws.
Qualified Person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
About Canada Silver Cobalt Works Inc. www.canadasilvercobaltworks.com
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters was calculated. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020). Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past-producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, 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 Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa” Frank J. Basa, P. Eng.
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 Silver Cobalt Works Inc.
- Published in Canada Cobalt Works, Mining
San Marco to change name to Sun Summit Nov. 2
San Marco Resources Inc. (TSXV: SMN) (“San Marco” or the “Company”) announces that, effective Monday, November 2, 2020, its name will change to “Sun Summit Minerals Corp.”
CEO Bob Willis stated, “We are excited to make this change to highlight our new focus on our flagship Buck property in central B.C. and other opportunities which our group identifies. The name denotes “new heights” and we hope to achieve this by re-examining the Buck project with a new outlook, new takes on research, and using new technology. We have assembled a top notch team of professionals to ensure we achieve our goals at Buck.”
The new CUSIP number and ISIN for its common shares will be 86687V100 and CA86687V1004, respectively. Its trading symbol will remain “SMN” and there will be no consolidation or other change to its share capital.
The name change will be accompanied by a new logo and website, which will be visible in the coming weeks online and on and other corporate material.
Drilling is currently ongoing at the Buck property (see news release from September 8, 2020), and an exploration update will be released shortly.
Metals Investment Forum
San Marco Resources / Sun Summit Minerals will be participating in the Virtual Metals Investment Forum (MIF) on Thursday, November 5, 2020. Hosted by newsletter writers, the forum showcases each writer’s Top Pick investment opportunities in exploration and mining.
To register for the upcoming virtual MIF conference, please visit the event’s website:
About San Marco
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.
The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sanmarcocorp.com
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
Tel. 778-588-9606
- Published in Mining, News Home, San Marco Resources
Secret Pass Update and Drill Program
Northern Lights Resources Corp. (the “Company” or “Northern Lights”) is pleased to announce an update to exploration work at the Company’s 100% owned Secret Pass Gold Project (“Secret Pass” of the “Project”) located in Mohave County, northwestern Arizona.
Exploration work completed by Northern Lights during 2020 has identified significant potential for high-grade gold mineralization at the Tin Cup and FM zones plus the newly identified Fiery Squid zone as well as 20 follow-up exploration targets previously disclosed in the Company’s news release of September 9, 2020.
During 2020, Northern Lights has completed significant geological fieldwork on Secret Pass including:
- Airborne drone photogrammetry mapping survey (completed May/Sept 2020)
- Airborne drone magnetic survey and interpretation (completed Sept 2020)
- Geological mapping and stream sediment and panned concentrate sampling (Sept / October 2020)
- Reinterpretation of historical IP survey data (results pending)
- A detailed review of historical geological work and GIS digitization and orientation of historic data
Refer to Figure 1: Secret Pass Geological Map and Preliminary Target Zones
Preliminary Geological Model – Tin Cup and FM Zones
Work completed by Northern Lights indicates that historic drilling has only tested the upper part of the potential epithermal gold zone at the Tin Cup and FM prospects.
Historic reverse circulation exploration drilling completed at Tin Cup intersected high-grade gold mineralization from near-surface to a maximum depth of approximately 180 metres. The average depth of the 145 historic holes completed on the Secret Pass property was 95 metres.
Assay results from the historic drilling at Tin Cup ranged up to 40 g/t Au. Several notable intersections are shown in Table 1.
Table 1: Selected Historic Drill Results at Tin Cup Zone
The mineralized zone at Tin Cup has a strike length of approximately 245 metres and a drill-indicated depth of up to 180 metres, both open along strike and depth. High-grade mineralization greater than 3 g/t Au, is localized in 3.0 to 7.6 metres wide, steep westerly-dipping structures that occurs within a much wider mineralized fault zone that ranges from 30 to 45 metres in width. The mineralization has a northwest plunge and is open at depth.
Analysis completed by Northern Lights indicates that there is potential to discover high-grade gold mineralization below the limit of the historic drilling at Tin Cup. With reference to the deepest level of production (650 m RL) at the Gold Road Mine (operated by Aura Minerals Inc., located 11 km due south of Secret Pass) and the limited depth of the historic drilling at Tin Cup (900 m RL), there is potential for high-grade gold mineralization for an additional 250 metres below the depth of historic drilling.
Refer to Figure 2: Secret Pass Geological Model – Tin Cup Prospect Cross-Section.
Historical USGS geological studies of gold-silver deposits in the Oatman Gold District establishes that the epithermal gold-silver mineralization was deposited over a temperature range of 150 to 280 degrees C and occur between the elevations of 1900 to 3050 feet (575-915 meters). The highest gold and silver grades were observed at the Gold Road and Tom Reed mines, hosted by colloform banded chalcedony-adularia-calcite-pyrite veins with a low Au:Ag ratio and a weak As-Sb-F geochemical signature. Based on the Oatman epithermal model, it is postulated that the Tin Cup and FM gold mineralization is situated in the middle to upper portions of the epithermal gold system. This assertion is further supported by the presence of adularia, fluorite and fluid inclusion temperatures ranging from 190-240 degrees C from a majority of the Tin Cup veins.
Secret Pass Phase 1 Drill Program
Northern Lights has planned an initial 8 hole, 1,600 metre, diamond core drill program at Secret Pass to commence immediately upon the Company receiving the required exploration and drill permits that are currently in process.
This initial Phase 1 drill program will focus on confirming the presence of high-grade gold mineralization identified by historic drilling and providing structural information as well as to test for the potential of continued mineralization at depth at Tin Cup.
Also, the Phase 1 program will include two holes at the newly identified Fiery Squid zone located approximately 2 km to the north of the Tin Cup zone. A historic grab sample from the dumps adjacent to the shaft at Fiery Squid yielded 6 g/t Au. The Fiery Squid zone is an intense sericite-altered, quartz-veined set of contacts developed between a swarm of rhyolite intrusions and host andesite situated in the middle of a 1000 x 500 metre zone of iron oxide alteration.
All drilling will be diamond core drilling, size HQ.
Hole | Location | Azimuth (o) | Dip (o) | Length (m) |
TC01 | Tin Cup | 310 | -50 | 250 |
TC02 | Tin Cup | 220 | -45 | 175 |
TC03 | Tin Cup | 220 | -55 | 225 |
TC04 | Tin Cup | 220 | -65 | 400 |
FM01 | FM | 220 | -50 | 150 |
FM02 | FM | 220 | -50 | 150 |
FS01 | Fiery Squid | 220 | -45 | 100 |
FS02 | Fiery Squid | 175 | -45 | 150 |
Total | 1,600 |
Table 2: Secret Pass Phase 1 Drill Program
Northern Lights has appointed Altar Drilling, Inc., based in Tucson Arizona, to commence diamond core drilling at Secret Pass once the permitting process has been completed.
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
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; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver is earning 100% ownership.
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Figure 1: Secret Pass Geological Map and Preliminary Drill Target Zones (For enhanced image, click here)
Figure 2: Secret Pass Geological Model – Tin Cup Prospect Cross Section (For enhanced image, click here)
SOURCE: Northern Lights Resources Corp.Related Documents:
- Published in Mining, News Home, Northern Lights Resources
Sirona Biochem Announces Acceptance of Clinical Study for TFC-1067 in the Journal of Cosmetic Dermatology
Sirona Biochem Corp. (TSXV: SBM) (FSE: ZSB) (USOTC: SRBCF) (“Sirona“) is pleased to announce that the clinical study using .2% TFC-1067 and conducted by Dr. Zoe Draelos of Dermatology Consulting Services, North Carolina, has been peer reviewed and accepted for publication in the Journal of Cosmetic Dermatology.
The study abstract can be found at the following link: https://doi.org/10.1111/jocd.13771
“The acceptance of a peer-reviewed study in a prestigious dermatology journal shows the dedication and credibility of our team and unwavering support of our innovative compound TFC-1067,” said Dr. Geraldine Deliencourt-Godefroy, Chief Scientific Officer of Sirona Biochem. “While we continue to foster our global partnerships, this publication will provide tremendous of commercial value as consumers increasingly demand clinical validation of products. With the unique benefits of TFC-1067 demonstrated in this trial, we are very excited about the next clinical trial currently underway using a higher concentration and improved formulation” she added.
The 12-week double blinded study involving 48 participants, completed in 2019, showed that TFC-1067 successfully achieved the endpoint of lightening dyschromic areas (dark spots) on the skin. With the application of TFC-1067, areas of hyperpigmentation were significantly lightened while preserving overall skin tone. TFC-1067 demonstrated the ability to lighten dark spots to blend into surrounding skin while preserving overall complexion. In this study, TFC-1067 achieved this goal while Hydroquinone did not, which is a tremendous consumer benefit and commercial advantage.
Further studies are planned, with one currently underway. Exploring the potential of TFC-1067 on different skin types, formulations and concentrations will further unlock the consumer and commercial unique benefits.
Hydroquinone has remained the gold standard for skin lightening despite known toxicity which is an ongoing concern for the FDA and the dermatology community. Hydroquinone is banned or has restricted dosing in an increasing number of countries. Despite the fact that many non-hydroquinone alternative lightening compounds are either toxic or ineffective, unfortunately millions of people still resort to toxic treatments for hyperpigmentation despite poor aesthetic results. There is a clear unmet need for a safe and effective treatment in this 20-Billion-USD skin lightening market.1
About the Journal of Cosmetic Dermatology
The Journal of Cosmetic Dermatology is the official journal of the International Academy of Cosmetic Dermatology (IACD) and the Canadian Association of Aesthetic Medicine (CAAM). The Journal publishes high quality, peer-reviewed articles on all aspects of cosmetic dermatology with the aim to foster the highest standards of patient care in cosmetic dermatology. Published quarterly, the Journal of Cosmetic Dermatology facilitates continuing professional development and provides a forum for the exchange of scientific research and innovative techniques.
For more information about the Journal of Cosmetic Dermatology, please visit: https://onlinelibrary.wiley.com/page/journal/14732165/homepage/productinformation.html
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.
_____________________________________
1Fact.MR (July 2018) Retrieved from: https://globenewswire.com/news-release/2018/07/10/1535161/0/en/Key-Insights-on-Skin-Lightening-Products-Market-through-2022-by-Fact-MR.html
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2020/26/c1778.html
Contact:
regarding this press release, please contact: Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Canada, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com; Marcus Kaemper, Germany, Phone: +49 160 920 340 25, Email: mk@sironabiochem.com; Corporate Enquiries: Dr. Howard Verrico, CEO, Chairman of the Board, Sirona Biochem Corp., Phone: 1.604.641.4466, Email: info@sironabiochem.com
- Published in News Home, Sirona Biochem
Granada Hits 3.66 g/t Gold Over 26.5 Meters Near Surface Including 13.49 g/t Over 4 Meters & 29.8 g/t Over 1.5 Meters
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to provide an update on its on-going drill program at Granada. This release contains drill results from the 100-series near-surface drill program targeting Vein 1.
Highlights:
- 3.66 g/t gold over 26.5m in hole GR-20-110 from 35.2 to 61.7m
- 5.25 g/t gold over 3.0m in hole GR-20-109 from 60.0 to 63.0m
- 2.62 g/t gold over 6.42m in hole GR-20-101 from 34.5 to 40.5m
The Company has now drilled a total of 8482 meters of the drill program (as of October 5th, 2020) of the current 12,000-meter program with 2 drills turning on site. This release represents 659.8 m of the program.
ASSAY RESULTS
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-20-101 | 18.00 | 22.50 | 4.50 | 1.10 |
And | 34.50 | 40.50 | 6.00 | 2.62 |
including | 36.50 | 37.00 | 0.50 | 6.42 |
GR-20-102 | 33.20 | 34.70 | 1.50 | 0.42 |
GR-20-103 | 19.30 | 24.00 | 4.70 | 0.80 |
And | 61.50 | 67.50 | 6.00 | 1.22 |
GR-20-104 | 12.00 | 19.80 | 7.8 | 0.52 |
GR-20-105 | 12.00 | 15.40 | 3.40 | 1.49 |
And | 78.70 | 83.20 | 4.50 | 1.19 |
GR-20-106 | 30.00 | 31.50 | 1.50 | 0.26 |
GR-20-107 | 4.50 | 12.00 | 7.50 | 0.53 |
GR-20-108 | 5.70 | 7.20 | 1.50 | 0.23 |
GR-20-109 | 7.00 | 39.00 | 32.0 | 1.01 |
including | 7.00 | 18.00 | 11.00 | 1.64 |
including | 21.00 | 27.00 | 6.00 | 1.76 |
including | 31.50 | 39.00 | 7.50 | 0.69 |
And | 60.00 | 63.00 | 3.00 | 5.25 |
GR-20-110 | 8.20 | 9.20 | 1.00 | 3.49 |
And | 35.20 | 61.70 | 26.50 | 3.66 |
including | 35.20 | 39.20 | 4.00 | 13.49 |
including | 36.70 | 38.20 | 1.50 | 29.80 |
including | 49.70 | 52.70 | 3.00 | 8.85 |
including | 51.20 | 52.70 | 1.50 | 18.45 |
Lengths are core length, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method. Other assays results are still pending. The Company is being impacted by longer than expected turnaround time (TAT) of analytical results due to COVID-19 and extensive work load at ALS laboratory. |
The 100-series holes were drilled to intersect the vein uncovered by stripping and to follow the high-grade corridor. Holes GR-20-101 to GR-20-105 are vertical holes drilled to intersect the mineralized vein structure.
The stripping has confirmed the continuation of the mineralized structure in historical Pit #1 for up to 350m East-West. Pit #1, mined in 1994, extracted 87,311 tonnes grading 5.17 g/t Au (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1).
Earlier this year, (Press Release August 11, 2020) the Company processed by conventional gravity concentration, a large 1220-kilgram grab sample taken over a 3-meter strike length in this stripped area, resulting in the recovery of 55.6 g/t native gold where the native gold component of has been defined for the Granada Gold Mine to represent an average of 50% of the recoverable gold (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1). The gold-bearing sulphides were not recovered.
Holes GR-20-106 to GR-20-110 are drilled within the vein structure to the West of the GR-19-A which intersected 11.45 g/t Au over 33 meters (Granada Gold Mine, Press Release January 9, 2020).
Frank J. Basa, P.Eng., “The short-hole drill program, with its 3 objectives, has succeeded in defining further extension of the high-grade zones eastward near surface. As well, we intersected the mineralized structure to measure total thickness immediately north of the stripping of the vein extension to the west of bulk zone. Moreover, the other holes have shown the extension to the NNE of the high-grade zone in the mineralized structure. The more we drill, the more we find gold. The typical Abitibi Gold Belt structure scenario is that there is gold mineralization in several large structures and smaller structures, and within these larges structures there are zones of very high concentration of gold where visible gold is observed and measured in the core within these extensive planar structures. It appears that this enrichment shows on the eastern blocks of the many senestral NNE faults – like GR-20-110. We are looking forward to similar assay results in GR-20-117 where it has intersected the continuity of the very high-grade bulk zone at Granada evidenced by the presence of visible gold.”
As noted, assay results from other holes have not yet been received but will be disclosed after they are validated and interpreted. See drillhole location map further down in this press release for more details. The table represents the characteristics of the drill holes of this press release.
DRILL HOLE LOCATION DATA
Hole ID | UTME | UTMN | Elevation | Azimuth | Dip | Length (m) |
GR-20-101 | 647001.0 | 5338105.1 | 315.40 | 0.0 | -89.8 | 75 |
GR-20-102 | 646981.4 | 5338105.5 | 315.62 | 0.0 | -90.0 | 63 |
GR-20-103 | 646966.0 | 5338103.7 | 315.44 | 0.0 | -90.0 | 75 |
GR-20-104 | 646951.6 | 5338102.4 | 316.88 | 0.0 | -87.6 | 75 |
GR-20-105 | 646933.8 | 5338105.1 | 316.14 | 0.0 | -89.4 | 141 |
GR-20-106 | 646929.6 | 5338090.7 | 315.09 | 20.9 | -51.0 | 33 |
GR-20-107 | 646941.0 | 5338089.5 | 314.64 | 33.6 | -55.4 | 30 |
GR-20-108 | 646941.2 | 5338089.8 | 314.66 | 34.5 | -45.5 | 26 |
GR-20-109 | 646957.9 | 5338087.4 | 314.93 | 26.6 | -46.1 | 63 |
GR-20-110 | 646980.6 | 5338081.0 | 314.60 | 19.2 | -50.5 | 79 |
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
Quality Control and Reporting Protocols
All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Columbia. The screen assay method is selected by the geologist when samples contain visible gold. The drill program, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes for this program in addition to the lab QA/QC.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of the Granada property. But is not necessarily indicative of mineralization hosted on the company’s property.
Pit-Constrained Mineral Resources at Granada disclosed on February 13th, 2019 Press Release prepared by SGS independent QP Maxime Dupéré Geo. & Allan Armitage P. Geo “Technical Report on the Granada Gold Project Mineral Resource Estimate, Rouyn-Noranda, Quebec, Canada “stand at:
Category | Tonnes | Grade (g/t AU) | Contained Gold (oz.) |
Measured | 12,637,000 | 1.02 | 413,000 |
Indicated | 9,630,000 | 1.13 | 349,000 |
Measured & Indicated | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
* Pit constrained mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and half kilometers. Three of these structures were mined historically from two shafts and two open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 5 to 3.5 grams per tonne gold.
The Company is in possession of all mining permits required to commence the initial mining phase, known as the “Rolling Start”, which allows the company to mine up to 550 tonnes per day. Additional information is available at www.granadagoldmine.com.
“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 Granada Gold Mine Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2020/21/c1826.html
Contact:
Please contact: Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Canada Silver Cobalt Provides Update on the Advancement of the Robinson Zone Ramp Project
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce significant ramp project advancement in environmental studies, site development, community engagement, First Nations consultations, and exploration which will further de-risk the Robinson Zone Project which is 100-percent owned by the Company, in the 78-square-kilometre Castle Silver Mine property, in Gowganda, Ontario, Canada.
Highlights and updates:
- Engaged an environmental consultant to begin a gap analysis at the Robinson Zone. The gap analysis will develop a baseline study for ramp development. The company plans to setup drill stations underground to further the exploration program. A bulk sample will be taken for metallurgical testing.
- Engaged a mining consultant to develop a scope of work for the upcoming engineering studies to design the ramp. The necessary information has been forwarded to the mining consultant.
- Retained SGS Lakefield to further develop the company’s Re-2OX process. The metallurgical program will consist of producing battery-grade cobalt and nickel sulfates with the recovery of silver into dore bars.
- Advanced the 2020-21 Robinson Zone 50,000-meter drill program in the fourth quarter with 20 percent completed to date and with appropriate COVID-19 protocols in place. Four new, mineralized vein structure have been identified. The exploration target is enlarged up to 135 metres East-West, up to 100 metres North-South and up to 256 metres vertically.
Matt Halliday, P.Geo., President, commented: “This is a pivotal moment for CCW. With the continued success of the drill program, building a ramp to further de-risk the project is the next stage in developing a robust resource. The company is adding to our technical team to execute the exploration and development plans.”
Location
The Castle Property is 15 km east of Pan American Silver’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc. www.canadasilvercobaltworks.com
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. In May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020).
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, 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 Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
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 Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/October2020/16/c7400.html
- Published in Canada Cobalt Works, Mining, News Home
Newlox Delivers Over 90% Gold Recovery Using Organic Aqua Regia
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX ) (CNSX:LUX.CN) ( Frankfurt/Stuttgart: NGO ) is pleased to provide an update on the Organic Aqua Regia (OAR) testing underway at the recently established Newlox Research and Development’s laboratory. The Company is investigating Organic Aqua Regia (OAR) technology as a non-toxic and water-free alternative to cyanidation for the production of gold and other precious metals. While OAR is currently in Stage 1 testing at the Company’s laboratory, preliminary results are very encouraging.
OAR is being developed in conjunction with the University of British Columbia in Canada and Chiba University in Japan for the leaching of gold with an organic reagent that is both non-toxic and widely used in other industries. The reagent price is comparable to sodium cyanide, the conventional gold mining industry reagent. The main advantages are that it is non-toxic, is recyclable, extracts gold faster than cyanide, does not use water, and does not require carbon or electrowinning.
Recent OAR tests conducted by Newlox on high-grade gold ore samples have returned gold recoveries above 90% when conducted at ambient temperature and pressure. Testing is currently underway to investigate the effect of both temperature and reagent concentration on the leaching mechanics.
A Message from Ryan Jackson, President & CEO:
“During a recent visit to the laboratory by management, the research and development team presented preliminary results from Stage 1 testing. We were delighted to hear that the first round of testing delivered over 90% gold recovery, using the cutting-edge OAR leaching technology.
This initial round of testing is part of Newlox R&D’s 12-month OAR development program, and we are delighted to have already realized such positive results. Stage-1 testing is still underway, and we are looking forward to reporting the detailed results of this program as they become available.
OAR leaching could be a paradigm-shifting technology applicable not only to the US$180 billion formal global gold mining industry but also as a method to bring the US$27 billion informal gold mining industry into the 21st century.”
Forward-Looking Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
Technical Disclaimer
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
- Published in Mining, Newlox Gold, News Home
Sirona Biochem Signs Agreement with Global Pharmaceutical Company for Clinical Trial of its Novel Skincare Compound TFC-1067
Sirona Biochem Corp. (TSXV: SBM) (FSE: ZSB) (US-OTC: SRBCF) (“Sirona“) is pleased to announce that it has signed an agreement with a top 10 global pharmaceutical company (“Company”) to jointly test Sirona’s novel skin care, dark spot remover, TFC-1067, in a new clinical study. TFC-1067 will be tested using a new higher concentration (0.4%) and advanced formulation.
The clinical trial, launched October 5th, will run for a period of 12 weeks and include a minimum of 125 participants. It will be managed by Dermscan (a division of Eurofins), a global leader in cosmetic clinical trials. The study’s endpoint is to determine the compound’s ability to reduce hyperpigmentation or “dark spots” of the skin.
Multiple parameters will be measured including the added effects of the higher concentration of TFC-1067 and a boosted formulation. The study is expected to complete in early 2021 with results in February 2021. The study protocol was established through a collaboration of the scientific teams of TFChem, Sirona’s wholly owned subsidiary and the Company’s skincare scientific team.
Following the study, the Company will have first access to the clinical study results to assess potential use by its subsidiary dermatology company.
“To have a partner of this magnitude assisting in the design and financing of our clinical trial is a testament to the potential of TFC-1067,” said Dr. Howard Verrico, CEO of Sirona Biochem. “We look forward to continuing our relationship with their clinical team through the study as we evaluate the higher dose and improved formulation of the compound. TFC-1067 has been clinically proven to selectively lighten dark spots and blend them into surrounding skin tone. The ability to lessen visibility of dark spots while preserving underlying skin tone safely is a unique consumer benefit.”
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/October2020/13/c0146.html
- Published in News Home, Sirona Biochem
Newlox Gold Joins CSE Composite Index
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX ) | ( Frankfurt/Stuttgart: NGO ) (CNSX:LUX.CN) is pleased to inform investors that effective September 18, 2020, the Company has been added to the Composite Index of the Canadian Securities Exchange as part of the CSE’s quarterly rebalancing ( link ).
The CSE Composite Index is a broad indicator of market activity for the Canadian Securities Exchange (“CSE”) and is weighted by market capitalization with a $5,000,000 market capitalization threshold for inclusion. The CSE Composite Index is a uniquely positioned gauge of the Canadian small-cap market.
In addition to Newlox Gold’s primary listing on the CSE, the Company is also listed with the symbol NGO on the Frankfurt and Stuttgart stock exchanges in Germany.
A Message from Ryan Jackson, President & CEO:
“Newlox’s addition to the CSE Composite Index is another great milestone for the Company and recognizes our successful efforts to market the Company to a broader audience in 2020. We’re honoured to join the index and look forward to the increased exposure to a broad range of potential investors and the enhanced liquidity it may provide.
We would like to thank Newlox’s shareholders for their ongoing support and our entire team for their hard work and dedication.”
Forward-Looking Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
Technical Disclaimer
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
- Published in Mining, Newlox Gold, News Home
- 1
- 2