Affinor closes $1-million private placement
Affinor Growers Inc., further to its news release dated Jan. 22, 2021, has closed a non-brokered private placement of 28,714,285 units of the company at 3.5 cents per unit for gross aggregate proceeds of $1,004,999.98.
Each unit consisted of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share at a price of five cents per warrant share, on or before Feb. 26, 2022.
All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws ending on June 27, 2021. The company paid aggregate cash finders’ fees totalling $18,208.92 to certain eligible finders.
The company intends to use the proceeds from the offering to fulfill its obligations pursuant to its recently announced lease agreement with Nicholas Brusatore.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Director and chief executive officer Mr. Brusatore said: “Now that we are enabled with funds, it will certainly be a pleasure to finally showcase our patented, automated, vertical farming technology to the world. I personally look forward to serving the Affinor Growers shareholders and working diligently with our team to get this high-profile agriculture project into revenue.”
About Affinor Growers Inc.
Affinor is a publicly traded company listed on the Canadian Securities Exchange under the symbol AFI and on the OTCQB under the symbol RSSFF. Affinor is focused on developing vertical farming technologies, and using those technologies to grow fruits and vegetables in a sustainable manner.
- Published in Affinor Growers
CanBud Distribution Corporation Closes 2.6M First Tranche of its Previously Announced 3.5M Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation“) is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement for gross proceeds of approximately $2,639,080 (the “Offering“). The second and final tranche of the Offering is expected to close on March 2, 2021.
The Corporation issued 21,992,333 Units at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Finder’s fees in the aggregate amount of $84,470.39 in cash and 703,920 broker warrants (the “Broker Warrants“) were paid to a syndicate of arm’s-length finders, with the exception of $53,594.80 and 446,623 Broker Warrants paid to Florence Wealth Management Inc. (“Florence“). Raj Ravindran, CFO and Director of the Corporation, is the ultimate designated person and CEO of Florence. The Broker Warrants were issued on the same terms as the Warrants.
The proceeds raised from the Offering will be used by the Corporation for working capital, business development and general corporate purposes.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing. Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the CSE.
None of the securities issued in the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act“), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. 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 the securities in any state where such offer, solicitation, or sale would be unlawful. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering.
About Canbud Distribution Corporation
Canbud Distribution Corporation is a science and technology health and wellness company that encompasses plant based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) verticals.
www.canbudcorp.com
https://www.instagram.com/empathyplantco/?hl=en
For further information, please contact:
ir@canbudcorp.com
or
Robert Tjandra, President and COO
Tel: 1 416 847 7312
- Published in Canbud Distribution
Sirona Biochem CEO Quarterly Update Q1 2021
Sirona Biochem Corp. (TSXV: SBM) (FSE: ZSB) (OTC: SRBCF) (“Sirona“) is pleased to provide the following update to shareholders.
We continue to make substantial progress with core deliverables.
TFC-1067
Rodan + Fields (R+F) is completing the final stages in preparation to launch one of their newest skin care products incorporating TFC-1067. The dates are tightly guarded at this time and shareholders will be updated as soon as we are able to do so. We can report that everything is still progressing on schedule. As this will be our first project to reach commercial sales, we are looking forward to a successful launch.
Manufacturing of commercial quality TFC-1067 is ongoing in both China and France and shipments have been completed from both countries to the USA. As is the case with most new manufacturing, we continue to invest in optimizing the process. The development of an optimal production is an initial investment and a necessary condition to ensure we can sustainably serve a growing demand.
Our second clinical trial for TFC-1067, utilizing a higher dose, has been successfully completed and preliminary results have been received from Dermscan. We expect the final report within 4 weeks at which time we will review the results with our pharmaceutical partner (see news Oct 2020). We anticipate being able to release a portion of the results that are independent of our partner after a period of due diligence.
Several multinational companies have approached Sirona with interest in TFC-1067. Once the first product is available for purchase and we can release the latest data, we anticipate that number to grow. The data package now contains many in vitro studies, clinical safety data, two clinical trials and manufacturing. Additionally, we have a partner who independently tested the product providing further support for its performance.
After completing our due diligence, we made the decision not to pursue an agreement with HuaxiPharm. They have experienced internal challenges and delays and we do not feel their goals align with Sirona at this time. We have been working on developing a relationship with another company that can manage all aspects of commercialization of TFC-1067 in China. Our board and senior team are in regular discussion with this company on moving forward with an agreement. Extensive due diligence has already occurred.
TFC-039
TFC-039 for a type 2 diabetes pharmaceutical has completed another major phase in development and material information is pending.
TFC-039 for animal health continues to progress. We are in discussions with two international companies on this project and as such it has taken more time than expected to coordinate. Sirona and its consultants have structured and negotiated this unique partnership. We have closed binding terms on one side of this deal with the partner and we anticipate the other partner closing soon. Until such time that both partners have agreed to all terms, the details must remain confidential.
In addition, the team at TFChem are currently investigating further indications for TFC-039.
Anti-Aging
Our team has recently completed further studies for our anti-aging project to analyze our library of compounds and determine a lead. While we had previously done studies on some of these compounds, the lab was successful in developing further compounds for the library which we believe may have additional potential. These compounds must be patented and to do so, it is a requirement to fulfill a set of in-vitro studies. The studies are now complete, and we can begin the next steps of preparing a lead for further investigative studies in safety prior to the clinical trial. The project was introduced to several companies at BIO JPM (https://www.bio.org/events/bio-partnering-jpm) and we are developing the information package to share with them. We also anticipate further discussions with our current partners about this project.
Antiviral
With recent developments in other projects as well as the lab’s dedication to scale-up and managing the clinical trials of this project, the antiviral project remains less of a priority at the moment, but very much on the agenda for 2021 and 2022. We will update as progress is made.
Sirona continues to thrive in a world which has become increasingly virtual and has been conducting business daily on four continents. With a well-seasoned and experienced team, including multiple locally based consultants, travel has become unnecessary to maintain our progress. We will continue to support and grow our pipeline technology developed by our dedicated team of TFChem scientists based in Rouen, France.
We also continue to focus our efforts to create significant value for our shareholders. We realize that some investors had hoped for more progress. However, once again, we are moving forward and we are very confident that we will reach further significant milestones and continue to develop Sirona as a commercially successful company.
Dr. Howard Verrico, CEO
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/February2021/24/c7526.html
- Published in News Home, Sirona Biochem
Granada Closes Private Placement
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce that the Company has closed a non-brokered private placement financing, raising gross proceeds of $1,000,000.
The Company has issued 5,000,000 units (“Units”) at a price of $0.20 per Unit. Each Unit is comprised of one common share of the Company and one share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional common share of the Company at an exercise price of $0.22 per share for a period of three years from closing, subject to TSX Venture Exchange approval.
Proceeds of the private placement will be used for surface exploration, trenching, and historical resampling of drill core on the Company’s Granada Gold Property in Québec and general working capital.
All securities issued in connection with the private placement are subject to a four-month and a day hold period expiring on June 24, 2021, in accordance with applicable Securities Laws.
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.
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 a 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: http://www.newswire.ca/en/releases/archive/February2021/23/c6447.html
- Published in Granada Gold Mine, News Home
Lake Winn Strikes Gold, 0.69 m @ 26.54 g/t Au, 2m @ 13.75 g/t Au in separate drill holes, Cloud Project, Flin Flon Gold Belt, Manitoba
Highlights
- – First pass exploration program strikes high grade gold.- Visible gold noted while logging verified by assays.- Best intercepts, 2m @ 13.75 g/t (17.3g/t in one metre, 10.2 g/t in the 2 nd meter).- These intercepts are in drill holes 175m apart testing a 300m long prospect defined by surface pits containing gold.- The gold package is hosted in a distinct mafic/magnetic unit with the gold being hosted in structurally controlled veins.- This rock package has a 4km strike.- A significant new gold find in the Flin Flon Belt. Good infrastructure, mining friendly.- Follow up exploration planned with further drilling, prospecting and till sampling.
February 23, 2021 – TheNewswire – Vancouver, British Columbia – Lake Winn Resources Corp. (“Lake Winn” or the “Company”) ( TSXV:LWR ) ( OTC:EQTXF ) is pleased to announce it has received the assay results for its 8 holes, 1,683 meter, phase 1 drilling campaign on the Cloud project, in the Flin Flon Gold Belt, Manitoba.
The highlight results are from drill hole CP-2020-02 where 0.69m returned 26.54 g/t from 179.7m to 180. 39m. The second drill hole CP-2021-03 where 2m @ 13. 7 5 g/t Au from 142m to 144m, this intercept coincided with visible gold being noted in the core . These 2 diamond drill holes are 175 metres apart and the high grade gold intercepts are hosted in bucky white quartz veins.
Table 1 lists the intercepts in each hole using a >0.5g/t cut-off.
Samples were sent to TSL Laboratories of Saskatoon, an independent laboratory using a chain of custody. Gold was measured by fire assay using 30 g aliquots of half NQ sized core and an AAS finish. Samples assaying >3 g/t Au were in addition subject to gravimetric finish where the resultant bead is weighed on a micro-balance. In the >10g/t cases the company elected to do a total digestion of the remaining ½ NQ core sample weighing approx., 1.8kg for a screened gravimetric finish. These larger more representative samples are reported in table 1. In these samples over 60% of the gold reported to the greater than 150 micron screen. For each 24 sample batch, the lab used 4 internal standards. For each of the 40 samples the company submitted one duplicate, one blank, and one standard. The results for the standards showed good precision and accuracy.
Table 2 gives the geographic co-ordinates for each drill hole and their dip and azimuth. Figure 1 is a plan view of the drill holes noting the gold intercepts.
The drilling tested a number of targets, which included IP anomalies, resistivity anomalies, and drilling beneath historic prospecting pits. It was those drill holes that tested beneath the pits and the magnetic, mafic, host unit that successfully encountered gold. As mentioned above, the gold intercepts were hosted in late-stage cross cutting buck white quartz veins (post-peak metamorphism) that had variable amounts of sulphides. The quartz veins showed brittle shear and multiple histories. The down hole surveys showed the holes flattened to 40-45 o dip where they encountered the quartz veins and contacts were near perpendicular. The true widths will therefore be 70%-100% of those reported here.
Lake Winn is encouraged by these high-grade gold intercepts in the very first phase of exploration, initiated immediately after completing the option on the property from W. S. Ferreira Ltd and receipt of the work permit. They require immediate follow-up and, Lake Winn plans to return the project to conduct further 2,000m of drilling focused on the mafic unit and high grade zones between around drill holes CP-2020-02 and CP-2021-03. This will commence once the permit is renewed. The mafic/magnetic unit that hosts the gold continues 4km to the west based on the magnetic data and this unit is now considered highly prospective. In Spring the company will also conduct prospecting and till sampling.
Table 2. NQ sized drill hole location and orientation
Click Image To View Full Size
Figure 1 Is a Plan View of the drill holes reported in this news release. Yellow dots are the drill hole collars. Drill hole traces are shown in black. A histogram showing gold grade, also in black, approx. 1mm per gram. Text, highlights the better gold intercepts. The coloured background is the total magnetic intensity, red, hot colours are the magnetic/mafic unit that hosts the gold.
Qualified Person
The Qualified Persons for this news release is Buddy Doyle, AUSIMM, a Geologist with over 30 years’ experience in mineral exploration, discovery, and evaluation. A Qualified Person under the provisions of National Instrument 43-101. The project Geologist is Carey Galeschuk, P. Geo Manitoba, in charge of the chain of custody, standards, and field work he has also reviewed the technical information in this news release.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based gold company, listed on the TSX Venture Exchange (Symbol: LWR) focusing on exploration and development of gold projects in Canada. The company’s flagship property, the Cloud Project is in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north ‐ east of the town of Flin ‐ Flon. Access to the property is provided by Manitoba highway 10 to the all ‐ weather Kississing Lake Road.
The company also has the Quartz property 76 kilometres east of Flin Flon where there are historic high grade gold drill intercepts. Lake Winn is waiting for exchange approval from the TSX: V.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power, President & CEO
+1 (604) 218-8772
- Published in Lake Winn Resources, Mining, News Home
Dr. Marcello Veiga Heads up Newlox Research and Development Corporation
Figure 1. Dr. Marcello Veiga Inspecting Samples
Vancouver, BC – TheNewswire – 23 February 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX ) | (CNSX:LUX.CN) | ( Frankfurt/Stuttgart: NGO ) is pleased to announce the appointment of Dr. Marcello Veiga as Chairman of Newlox Research and Development Corporation (“Newlox R&D”).
As a global authority on artisanal and small-scale mining, Dr. Veiga brings to Newlox R&D his over 40 years of experience. He has served as a metallurgical engineer and environmental geochemist for mining and consulting companies, a professor at the Norman B. Keevil School of Mining Engineering at the University of British Columbia, and as the Chief Technical Advisor of the GEF/UNDP/UNIDO Global Mercury Project for UNIDO – United Nations Industrial Development Organization, in Vienna.
Dr. Veiga’s primary interest has been developing technical and strategic approaches to improve the economic, social, and environmental conditions of the millions of artisanal miners producing gold worldwide for the benefit of all stakeholders ( read more ).
Dr. Veiga has held the position of Technical Advisor to Newlox Gold since the inception of the business and has been instrumental in developing the Company’s environmentally and socially responsible gold production business. He has supported the Company with significant engineering assistance during two rounds of research and development at the University of British Columbia. Newlox continues to benefit from his strong connections to artisanal miners and governments established during his tenure at the United Nations.
Newlox Gold formalized its research and development division as Newlox R&D, a subsidiary company, in the summer of 2020. The goal of Newlox R&D is to accelerate the development of innovative technologies to modernize the $180 billion global gold industry and the $27 billion artisanal gold industry. Dr. Veiga has elected to devote a greater portion of his attention to this in his position as head of Newlox R&D.
Newlox R&D focuses on developing technologies aimed at the recovery of metals using non-toxic reagents , technologies aimed at removing historical pollution originating from artisanal mining, as well as recovering and separating desirable metals from polymetallic resource projects. All of the technologies being developed by Newlox R&D will provide economic, social, and environmental benefits compared to the legacy technologies currently employed in the resource industry.
A Message from Ryan Jackson, President & CEO:
“I am pleased to welcome my good friend and mentor, Dr. Marcello Veiga, to his role as Chairman of Newlox Resea rch and Development. Dr. Veiga is a significant asset to the Company as it develops its business model and has been a steadfast supporter of Newlox’s environmentally and socially responsible resource production business. Together, we have built Newlox’s first processing plant, which is now producing gold in Costa Rica. Marcello continues to provide guidance to Newlox and is an integral part of the planned deployment of Newlox’s business model to multiple jurisdictions.
As Chairman of Newlox R&D, Marcello will be spearheading the Company’s resource technology division with the mission of developing a portfolio of cutting-edge technology to bring the resource industry into the 21 st century. This R&D subsidiary is already delivering exceptional results, and we are looking forward to reporting further progress from the lab.”
About Newlox Gold
Newlox has identified a niche within the extractive industry where a clean-technology company can apply innovative processing techniques to not only recover precious metals but also affect positive change in the environmental and social landscape in its targeted jurisdictions of operations.
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 Gold
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
Canbud Distribution Corporation Announces 3.5M Private Placement Offering
Canbud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“Canbud” or the “Corporation“) is pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of up to $3,500,000 through the issuance of approximately 29,200,000 million units (“Units“) at a price of $0.12 per Unit (the “Offering“).
Each Unit is comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
In connection with the Offering, the Corporation may pay a finders’ fee in accordance with the rules and policies of the CSE. The Corporation may close the Offering in one or more tranches. Gross proceeds raised from the Offering will be used for working capital, business development and general corporate purposes.
Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the CSE. None of the securities issued in the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act“), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. 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 the securities in any state where such offer, solicitation, or sale would be unlawful. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering.
About Canbud Distribution Corp.
Canbud Distribution Corp. is a science and technology health and wellness company that encompasses plant based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) verticals.
www.canbudcorp.com
https://www.instagram.com/empathyplantco/?hl=en
For further information, please contact:
ir@canbudcorp.com
or
Robert Tjandra, President and COO
Tel: 1 416 847 7312
- Published in Canbud Distribution
Granada Hits 107.8 g/t Gold Over 4 Meters Including Multiple High-Grade Veins at Depth
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce additional high-grade gold results from its on-going drill program at Granada. This release contains diamond drill results under the pit-constrained mineral resource with 5 holes.
Highlights:
- 3.64 g/t gold over 3.45m in GR-20-15 from 399.00 to 402.45m
- 5.25 g/t gold over 1.5m in GR-20-17 from 301.50 to 303.00m
- 2.47 g/t gold over 3.00 in GR-20-18 from 510.50 to 513.50m
- 13.20 g/t gold over 1.00 in GR-20-19 from 583.12 to 584.12m
- 107.8 g/t gold over 4.00m in hole GR-20-21 from 617.40 to 621.40m
The intersections, many of which are mineralized between previously identified intervals, show extension and continuity of the mineralized structures. Significant high-grade intersections were encountered in the drill holes. In particular, GR-20-21, which intersected 107.8 g/t gold over 4 meters (details in Table 1). It extends the strike to the northeast and is the best drill result of the 2020 exploration drill program. The hole GR-20- 21 is being wedged off.
“These drill results continue to exceed expectations and demonstrate the potential of Granada. The exploration efforts have delivered some of our most significant results to date, extending the high-grade strike to the northeast and confirm continuity and high-grade gold mineralization at depth,” said Frank J Basa, P.Eng., President & CEO.
For a summary of today’s drill results, refer to table 1.
The 2021 Exploration program
The 2021 exploration drill program recently started with drilling of wedges and new holes under the higher-grade open pit constrained resources to increase the quantity and quality of the mineral resources. The drilling will focus on filling the gaps to allow building of additional mineral resources in addition to the testing of continuity of the structures with the 200-series holes.
Table 1: ASSAY RESULTS LOCATED BELOW THE 2021 HIGHER-GRADE, PIT-CONSTRAINED MINERAL RESOURCE
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-20-15 | 331.15 | 336.15 | 5.00 | 1.43 |
AND | 346.65 | 349.65 | 3.00 | 2.85 |
AND | 399.00 | 402.45 | 3.45 | 3.64 |
Including | 400.50 | 402.45 | 1.95 | 6.41 |
GR-20-17 | 294.00 | 303.00 | 9.00 | 1.40 |
Including | 301.50 | 303.00 | 1.50 | 5.25 |
AND | 318.00 | 321.00 | 3.00 | 2.05 |
AND | 364.00 | 367.75 | 3.75 | 1.83 |
Including | 367.00 | 367.75 | 0.75 | 5.75 |
GR-20-18 | 510.50 | 513.50 | 3.00 | 2.,47 |
AND | 526.40 | 529.40 | 3.00 | 1.66 |
AND | 564.50 | 567.00 | 2.50 | 2.17 |
AND | 596.70 | 600.00 | 3.30 | 2.64 |
GR-20-19 | 498.50 | 504.50 | 6.00 | 1.90 |
Including | 503.00 | 504.50 | 1.50 | 6.20 |
AND | 577.50 | 584.12 | 6.62 | 2.35 |
Including | 583.12 | 584.12 | 1.00 | 13.20 |
GR-20-21 | 560.40 | 563.40 | 3.00 | 3.93 |
Including | 560.40 | 561.90 | 1.50 | 7.80 |
AND | 617.40 | 621.40 | 4.00 | 107.8 |
AND | 759.60 | 760.10 | 0.50 | 3.35 |
Lengths are core length and are close to true widths, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method.
Table 2 presents the characteristics of the drill holes of this release.
TABLE 2: DRILL HOLE LOCATION DATA
Hole | UTME | UTMN | Elevation | Azimuth | Dip | Length (m) |
GR-20-15 | 647226.5 | 5338476.9 | 303.32 | 180.0 | -80.3 | 552 |
GR-20-16 | 647006.5 | 5338446.3 | 312.52 | 201.5 | -73.1 | 498 |
GR-20-17 | 647006.6 | 5338446.4 | 312.48 | 201.5 | -80.2 | 558 |
GR-20-18 | 647335.7 | 5338656.3 | 302.05 | 222.0 | -65.0 | 600 |
GR-20-19 | 647335.7 | 5338656.3 | 302.05 | 197.6 | -65.0 | 702 |
GR-20-20 | 645968.0 | 5339544.0 | 292.0 | 183.6 | -86.0 | 588 |
GR-20-21 | 647335.7 | 5338656.3 | 302.05 | 197.6 | -65.0 | 761 |
GR-20-22 | 647617.0 | 5339243.0 | 290.0 | 4.4 | -65.0 | 1600 |
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.
Updated Mineral Resource
The updated resource at the Company’s Granada Gold project in Rouyn-Noranda, Quebec was estimated by SGS Canada and outlined in a January 29, 2021 news release.
Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion
Type | Category | Tonnes | Au (g/t) | Gold Ounces |
In Pit | Measured1 | 3,756,000 | 1.89 | 228,000 |
Indicated | 1,357,000 | 2.55 | 111,000 | |
Measured+Indicated | 5,113,000 | 2.06 | 339,000 | |
Inferred | 34,000 | 11.29 | 12,000 | |
Underground | Measured | 37,000 | 4.22 | 5,000 |
Indicated | 807,000 | 4.02 | 104,000 | |
Measured+Indicated | 844,000 | 4.03 | 109,000 | |
Inferred | 1,244,000 | 6.33 | 253,000 |
1. | Cut-off grades are based on a gold price of US$1,600 per ounce, a foreign exchange rate of US$0.76 for CA$1, a gold recovery of 93% |
2. | Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell |
3. | Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes |
“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: http://www.newswire.ca/en/releases/archive/February2021/19/c1734.html
- Published in Granada Gold Mine, Mining, News Home
Canada Silver Cobalt Works Acquires 39,200 Hectares of EV Properties in Ontario and Quebec
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce the acquisition of 39,200 hectares of EV properties in Quebec and Ontario. It is Canada Silver Cobalt’s intention to transfer the properties, in exchange for shares, to another public company to be identified by the Company, in order to capitalize on the current EV market, and to distribute the shares by way of dividend to Canada Silver Cobalt’s shareholders.
These properties have a strong potential to host a variety of base metals including nickel, copper and cobalt. This strategic move is for structural organization purposes to add to our current cobalt mineralization discoveries in the Cobalt Camp and as an expedient approach to the increasing demand for EV battery input materials. Canada Silver Cobalt’s main focus will remain on its High-Grade silver discovery at the Robinson Zone with drill core silver grades of 89,000 grams per tonne (January 29, 2021 CCW Press release).
Quebec Properties:
Property Name | Hectares | Target | |
1 | Fuchsia Ni Showing | 4013 | Nickel showing, magnetic anomaly by Road389 to Manic |
2 | Nourricier – Graal | 1778 | Bouguer gravity target |
3 | Forgues Ni East Crater Showing | 1391 (CD 2780) | Nickel showing, Bouguer gravity target, East Crater, Manic |
4 | Lowney Lac Edouard south | 3200 (CD 6692) | Bouguer gravity target |
5 | LPM-LPMN Ni Showing | 388 | Nickel Bouguer gravity target |
6 | Boudrias Showing | 942 | Nickel showing, magnetic anomaly by Road389 to Manic |
7 | B30 Shear | 721 | Nickel showing, magnetic anomaly by Road389 to Manic |
8 | Zec aux Rats | 1180 | Showing, magnetic anomaly |
9 | NW B15 Showing | 668 | Bouguer gravity target near showing |
10 | Saint-Stanislas Ni Showing | 395 | Nickel showing, magnetic anomaly |
14 | Dyke Horizon Cu Showing | 1505 | Copper showing, Chibougamau |
13 | Grand Portage | 2196 | Nickel showing, magnetic anomaly |
11 | 32B04/32C01 | 2298 | Bouguer gravity target |
12 | Magpie West | 700 | Bouguer gravity target |
15 | B2 Discovery – option | 8450 | Copper, Nickel Discovery |
34,706 ha |
Ontario Property:
Property Name | Hectares | Target | |
1 | Henry Lake | 4468 | Bouguer gravity target east of Sudbury Basin nickel deposits |
4,468 ha |
These properties have been acquired and/or staked. All the properties have surface showings that have been sampled or have massive gravity anomalies. The Lowney Lac Edouard South property in Quebec is adjacent to Rio Tinto Mines property. The Ontario properties are within 25 kilometers of the Sudbury basin where Glencore and Vale have multiple mines and smelters which have been in operation for over 100 years to recover nickel, copper and cobalt metals. The Company will continue to search for additional assets and property acquisitions in the vast areas of Northern Quebec and near the Sudbury nickel basin, so-called because of the massive deposits previously, and recently, discovered in these regions, one of the best areas in the world for nickel, copper, and cobalt discoveries.
With the race for the discovery of large new deposits of key metals from safe jurisdictions accelerating, prices are reacting with the price of some EV metals such as nickel, copper and cobalt, having been dormant for some time, already moving up over 30% in 2021. North American governments at all levels are becoming increasingly involved, supporting companies seeking to supply input metals for EV batteries as the push for a green economy continues unabated. Major geo-political forces have recently done a 180 and are now going all-in on green initiatives and related technologies. What we are seeing today is consistent with previous announcements like the joint American-Canadian Federal Governments’ press release from just over one year ago. On January 9, 2020, the American and Canadian governments announced the finalization of a joint action plan on critical metals which stated, “This Action Plan will promote joint initiatives, including research and development cooperation, supply chain modelling and increased support for industry.”
CEO Frank J. Basa P.Eng. notes, “Timing has never been better, which is why we are moving ahead with these acquisitions that will facilitate strategic positioning for the Company to take full advantage of rapidly evolving market conditions for EV battery base metal inputs. The idea is to best position the Company to take full advantage of synergies, government policy and financial supports as the urgent search for massive deposits of metals needed to fulfill stated green objectives accelerates.”
Canada Silver Cobalt cannot give any assurances regarding a potential transfer of the Quebec and Ontario properties to another public company in exchange for shares, the terms and conditions of any such transfer, the distribution of such shares to the Company’s shareholders by way of dividend, whether TSX Venture Exchange or other stock exchange or regulatory approval will be obtained for such transfer or distribution, to the extent required, or the timing of any of the foregoing.
About Canada Silver Cobalt Works Inc.
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. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020 and a signature date of July 13, 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
- Published in Canada Cobalt Works, Mining, News Home
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