Granada Gold Intersects 12.61 g/t Gold Over 16.5 Meters and 3.49 g/t Gold Over 30.5 Meters Within a Greater 1.33 g/t Gold Over 273.75 Meters Drill Hole From Surface
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce that the 200-series drill Hole GR-21-05, drilled at 330 meters west from the 100-series drill Hole GR-19-A, intersected significant gold mineralization grading 11.45 g/t gold over 33 meters (Press Release January 9th, 2020).
Highlights:
- Gold at 1.33 g/t over core length of 273.75 meters from 4.5 meters to 278.25 meters from surface
- Gold at 12.61 g/t over core length of 16.5 meters from 37.5 meters to 54.0 meters from surface
- Gold at 3.49 g/t over core length of 30.50 meters from 79.0 meters to 109.5 meters from surface
The 200- and 100-series drill holes are drilled down dip to maximize the intersection of native gold in the mineralized veins. The 43-101 reports indicates that 50 percent of the gold in the resource is in the massive, native, or visible form (SGS May 2012 Technical Report, effective date April 2, 2012).
Table 1: Details of the first highlight interval at 12.61 g/t Gold uncut
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-21-05 | 37.50 | 38.25 | 0.75 | 1.27 |
GR-21-05 | 38.25 | 39.00 | 0.75 | 8.69 |
GR-21-05 | 39.00 | 39.75 | 0.75 | 9.28 |
GR-21-05 | 39.75 | 40.50 | 0.75 | 23.52 |
GR-21-05 | 40.50 | 41.00 | 0.50 | 5.37 |
GR-21-05 | 41.00 | 41.50 | 0.50 | 3.78 |
GR-21-05 | 41.50 | 42.00 | 0.50 | 5.82 |
GR-21-05 | 42.00 | 42.50 | 0.50 | 6.84 |
GR-21-05 | 42.50 | 43.00 | 0.50 | 9.50 |
GR-21-05 | 43.00 | 43.50 | 0.50 | 62.08 |
GR-21-05 | 43.50 | 44.00 | 0.50 | 11.39 |
GR-21-05 | 44.00 | 44.50 | 0.50 | 16.53 |
GR-21-05 | 44.50 | 45.00 | 0.50 | 23.64 |
GR-21-05 | 45.00 | 45.50 | 0.50 | 3.84 |
GR-21-05 | 45.50 | 46.00 | 0.50 | 1.02 |
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-21-05 | 46.00 | 46.50 | 0.50 | 5.26 |
GR-21-05 | 46.50 | 47.00 | 0.50 | 31.26 |
GR-21-05 | 47.00 | 47.50 | 0.50 | 19.69 |
GR-21-05 | 47.50 | 48.00 | 0.50 | 1.06 |
GR-21-05 | 48.00 | 48.50 | 0.50 | 0.08 |
GR-21-05 | 48.50 | 49.00 | 0.50 | 0.14 |
GR-21-05 | 49.00 | 49.50 | 0.50 | 2.32 |
GR-21-05 | 49.50 | 50.00 | 0.50 | 16.55 |
GR-21-05 | 50.00 | 50.50 | 0.50 | 15.21 |
GR-21-05 | 50.50 | 51.00 | 0.50 | 9.56 |
GR-21-05 | 51.00 | 51.50 | 0.50 | 27.86 |
GR-21-05 | 51.50 | 52.00 | 0.50 | 13.55 |
GR-21-05 | 52.00 | 52.50 | 0.50 | 14.71 |
GR-21-05 | 52.50 | 53.00 | 0.50 | 7.83 |
GR-21-05 | 53.00 | 53.50 | 0.50 | 23.40 |
GR-21-05 | 53.50 | 54.00 | 0.50 | 13.55 |
Table 2: Details of the second highlight interval at 3.49 g/t Gold uncut
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-21-05 | 79.00 | 80.00 | 1.00 | 3.87 |
GR-21-05 | 80.00 | 81.00 | 1.00 | 0.91 |
GR-21-05 | 81.00 | 81.75 | 0.75 | 6.40 |
GR-21-05 | 81.75 | 82.50 | 0.75 | 2.31 |
GR-21-05 | 82.50 | 83.50 | 1.00 | 1.86 |
GR-21-05 | 83.50 | 84.40 | 0.90 | 8.56 |
GR-21-05 | 84.40 | 85.10 | 0.70 | 1.26 |
GR-21-05 | 85.10 | 85.80 | 0.70 | 0.63 |
GR-21-05 | 85.80 | 86.60 | 0.80 | 2.09 |
GR-21-05 | 86.60 | 87.50 | 0.90 | 1.95 |
GR-21-05 | 87.50 | 88.50 | 1.00 | 5.30 |
GR-21-05 | 88.50 | 89.50 | 1.00 | 4.48 |
GR-21-05 | 89.50 | 90.50 | 1.00 | 5.99 |
GR-21-05 | 90.50 | 91.50 | 1.00 | 1.55 |
GR-21-05 | 91.50 | 92.50 | 1.00 | 0.04 |
GR-21-05 | 92.50 | 93.50 | 1.00 | 0.36 |
GR-21-05 | 93.50 | 94.55 | 1.05 | 0.16 |
GR-21-05 | 94.55 | 95.50 | 0.95 | 0.09 |
GR-21-05 | 95.50 | 96.50 | 1.00 | 0.16 |
GR-21-05 | 96.50 | 97.50 | 1.00 | 0.29 |
GR-21-05 | 97.50 | 98.50 | 1.00 | 3.51 |
GR-21-05 | 98.50 | 99.50 | 1.00 | 2.13 |
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-21-05 | 99.50 | 100.50 | 1.00 | 0.39 |
GR-21-05 | 100.50 | 101.50 | 1.00 | 0.60 |
GR-21-05 | 101.50 | 102.25 | 0.75 | 1.90 |
GR-21-05 | 102.25 | 103.00 | 0.75 | 7.40 |
GR-21-05 | 103.00 | 103.75 | 0.75 | 1.21 |
GR-21-05 | 103.75 | 104.30 | 0.55 | 0.31 |
GR-21-05 | 104.30 | 105.00 | 0.70 | 0.36 |
GR-21-05 | 105.00 | 105.55 | 0.55 | 10.57 |
GR-21-05 | 105.55 | 106.25 | 0.70 | 1.54 |
GR-21-05 | 106.25 | 107.00 | 0.75 | 2.31 |
GR-21-05 | 107.00 | 107.75 | 0.75 | 0.68 |
GR-21-05 | 107.75 | 108.50 | 0.75 | 2.75 |
GR-21-05 | 108.50 | 109.00 | 0.50 | 6.09 |
GR-21-05 | 109.00 | 109.50 | 0.50 | 66.54 |
This GR-21-05 hole crossed a zone previously intersected perpendicular to the vein in hole GR-09-02 which assayed 3.95 g/t gold over 8.8 meters true thickness from 39.2 meters to 48.0 meters downhole.
Table 3: Coordinates of the hole
Hole | UTME | UTMN | Elevation | Azimuth | Dip | Length (m) |
GR-21-05 | 646699 | 5338091 | 320 | 15 | -47 | 278.25 |
Frank J. Basa, P.Eng., President and CEO commented that, “The 200- and 100-series drill holes better represent the grade of the mineralization in the veins by increasing the probability of intersecting massive native gold drilling down dip versus drilling perpendicularly which best defines the vein structure position.”
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, including 2 fully permitted Mining Leases (BM-852 and BM-813), near Rouyn-Noranda, Quebec. Approximately 140,000 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 four shafts and three 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 3.5 to 5 grams per tonne gold.
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. The final report was filed March 15, 2021 with an Effective date of December 15, 2020. The 43-101 Technical Report is titled: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, géo. Both of SGS Canada Inc.
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 |
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.
- Published in Granada Gold Mine, Mining, News Home
Canbud Distribution Enters into Definitive Agreement to Acquire Molecular Science Corp.
Canbud Distribution Corp. (CSE: CBDX) (“Canbud” or the “Corporation“) is pleased to announce that, further to its news release of May 27, 2021, it has entered into a definitive acquisition agreement (the “Acquisition Agreement“) with Molecular Science Corp. (“MSC“) and 2847719 Ontario Inc. (“Subco“), a wholly-owned subsidiary of Canbud, pursuant to which it agreed to acquire all of the outstanding securities of MSC by way of a three-cornered amalgamation (the “Transaction“). The Transaction is subject to receipt of all necessary regulatory approvals, including, as applicable, approval of the Canadian Securities Exchange (“CSE“), and certain other conditions as described below.
About MSC
MSC is a privately held analytical science and services company, carrying on the business of testing cannabis and related pharmaceutical products. The business operations of MSC are conducted primarily through Molecular Science Labs Corp, MSC’s wholly-owned subsidiary at its laboratory facilities in Scarborough, Ontario and pursuant to an analytical testing license issued by Health Canada under the Cannabis Act.
The Transaction
Under the terms of the Acquisition Agreement, the parties agreed to complete the Transaction, pursuant to which Subco will amalgamate with MSC under the Business Corporations Act (Ontario) and continue as a new corporation, wholly-owned by Canbud, and the holders of common shares of MSC (the “MSC Shares“) immediately prior to the amalgamation will receive 3.313 common shares of Canbud (“Canbud Shares“) for each MSC Share, or an aggregate of approximately 68,941,595 Canbud Shares, in exchange for their MSC Shares. All outstanding common share purchase warrants of MSC will also be replaced for common share purchase warrants of Canbud, entitling the holders thereof to purchase an aggregate of up to up to 3,975,707 Canbud Shares for a purchase price of $0.30 per Canbud Share until the date that is three years following the date of the completion of the Transaction. In addition, upon closing of the Transaction, the Corporation will issue up to 1,765,000 Canbud Shares as an advisory fee (the “Advisory Fee Shares“).
Upon closing of the Transaction, the holders of MSC Shares prior thereto are expected to own approximately 44.7% of the outstanding Canbud Shares on a non-diluted basis and before giving effect to the issuance of any Advisory Fee Shares. The Canbud Shares issued in exchange for MSC Shares will be subject to resale restrictions, such that the holders thereof will be permitted to trade 25% of such Canbud Shares on the date that is four months from the closing date of the Transaction, and a further 25% of such Canbud Shares on the dates that are seven, 10 and 13 months after the closing date.
In accordance with the terms of the Acquisition Agreement, Canbud advanced to MSC a bridge loan (the “Bridge Loan“) of $500,000, to be used by MSC for the repayment of certain debt and for working capital purposes. The Bridge Loan bears interest at 5% per annum, matures sixty days from the date of the Bridge Loan, and is secured against the shares and assets of each of MSC and its main operating subsidiary. In the event that MSC breaches its obligations under the Acquisition Agreement or otherwise is in default of its obligations under the loan and security documents with respect to the Bridge Loan, then the principal amount advanced under the Bridge Loan and all accrued interest owing thereon will immediately become due and payable after any applicable notice or cure periods.
All of the existing directors and management of the Corporation are expected to remain following any completion of the Transaction. Upon closing, all directors and officers of MSC are expected to resign other than Mauro Aiello and Sherry Farsami, who are expected to continue as the Interim CEO and Director of Quality Assurance, respectively, of the amalgamated entity carrying on the business of MSC.
Completion of the Transaction is subject to a number of conditions, including, without limitation, the following:
- receipt of the required approval for the Transaction from the shareholders of MSC within 30 days of the signing of the Acquisition Agreement;
- receipt of all applicable regulatory approvals;
- there having been no acquisitions or disposals (other than in the ordinary course of business), no debt or equity capital raisings (excepting for the Corporation), no new material contracts (excepting for the Corporation) or related party transactions and no loss of any material license;
- if shareholders of MSC holding 5% or more of the MSC Shares have exercised dissent rights with respect to the amalgamation of MSC and Subco;
- no material adverse change affecting MSC or the Corporation;
- satisfaction of Canbud and MSC of its respective due diligence investigation of the other part; and
- other customary closing conditions.
Steve Singh, CEO of the Corporation stated: “We are pleased to have entered into a definitive agreement to acquire an attractive business with high client loyalty and that we expect will generate revenue and growth potential for Canbud. MSC provides exceptional and critical services to the cannabis sector and also has an opportunity to expand its current business into the emerging psychedelics sector. Canbud intends to work to complete the Transaction and, at the same time, continue to evaluate other potential acquisitions that could advance management’s goal of entrenching Canbud in key facets of the cannabis and psychedelics sector.”
The Transaction is an arms-length transaction for the Corporation and, if completed, will not constitute a fundamental change or result in a change of control of the Corporation, within the meaning of the policies of the CSE.
Selected Financial Information of MSC
The following table sets out selected financial information with respect to MSC as at the dates noted. The selected financial information is derived from MSC’s audited consolidated financial statements for the year ended December 31, 2019 and its unaudited consolidated financial statements for the year ended December 31, 2020, which have been prepared in accordance with International Financial Reporting Standards, issued by the International Accounting Standards Board.
Balance Sheet Information | As at December 31, 2019 ($) | As at December 31, 2020 (Unaudited) ($) |
Current Assets | 1,047,184 | 727,896 |
Investment | 138,000 | 43,590 |
Property and equipment | 3,542,941 | 2,476,815 |
Right-of-use assets | 613,270 | 130,472 |
Intangible assets | 24,184 | 8,518 |
Total Assets | 5,365,579 | 3,387,291 |
Current Liabilities | 1,340,814 | 1,051,116 |
Total Liabilities | 1,790,521 | 1,108,861 |
Total Shareholder’s Equity | 3,575,058 | 2,278,430 |
Income Statement information | Year Ending, December 31, 2019 ($) | Year Ending December 31, 2020 (Unaudited) ($) |
Service Revenue | 1,175,890 | 2,742,208 |
Operating expenses | 5,418,154 | 4,890,802 |
Total Operating Loss | (4,242,264) | (2,148,594) |
Net Loss | (4,272,761) | (1,572,457) |
Total comprehensive loss | (4,991,903) | (1,674,367) |
Adjusted EBITDA(1) | (1,982,469) | (216,294) |
Note:
(1) In this news release, reference is made to Adjusted EBITDA which is not a measure of financial performance under International Financial Reporting Standards (IFRS). This metric and measure is not a recognized measure under IFRS, does not have meaning prescribed under IFRS and is, as a result unlikely to be comparable to similar measures presented by other companies. This measure should not be considered in isolation or in lieu of a review of our financial information reported under IFRS. Adjusted EBITA includes adjustments to net income for non-recurring items, concluded research and development, depreciation, interest and stock compensation expenses.
Completion of the Transaction is subject to a number of conditions, including the approval of the amalgamation by MSC’s shareholders by special resolution. There can be no assurance that the transaction will be completed as proposed or at all.
About Canbud Distribution Corp.
Canbud Distribution Corporation is a science and technology health and wellness company carrying on business in the plant based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoid (CBD) vertical markets.
- Published in Canbud Distribution, News Home
Canada Silver Cobalt Hits Bonanza-Grade Silver at 53,739 g/tonne with Gold Equivalent of 23.31 oz/ton
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce, within the eight new silver veins discovered to date, an additional wedge intercept of the high-grade silver vein (Vein 2) was intersected within 60 metres of the Robinson Zone Discovery hole CA-1108. The Robinson Zone, 100-percent owned by the Company, is located in the 78-square-kilometre Castle Silver Mine property, in Gowganda, Ontario, Canada.
Highlights and updates:
- Significant silver intercept in hole CS-20-39W4 grades 53,739 g/tonne Ag (1,568 oz/ton Ag) over 0.48m from 551.08 – 551.1m with a gold equivalent grade of 23.31 oz/ton Au.
- This intercept is included within a larger interval of 19,308 g/tonne Ag (563.24 oz/ton Ag) over 1.3m from 550.6 – 551.9m with a gold equivalent grade of 8.38 oz/ton Au over 1.3m.
- This wedge is a follow-up to the highest-grade silver to date at Robinson Zone: hole CS-20-39, at 89,853 g/tonne Ag (2,621 oz/ton Ag) with a gold equivalent grade of 38.98 oz/ton Au.
- The main intercept that grades 53,739 g/tonne Ag from 551.08 – 551.1m also contains strong Cobalt mineralization at 2.22% Co over 0.48m.
- Secondary vein intercept in hole CS-20-39W4 grading 2,019 g/tonne (58.90 oz/ton Ag) over 0.4m from 475.3 – 475.7m with a gold equivalent grade of 0.88 oz/ton Au. This may be part of the vein set belonging to the “17-Metre Zone” first identified in hole CS-20-39.
Note: Gold equivalents calculated based on USD $27.625 oz/ton Ag and USD $1857.8 oz/ton Au as of June 16th, 2021.
Table 1: Sample Details
Ag | Co | AuEq* | ||||||
Hole ID | Sample | From (m) | To (m) | Length (m) | g/tonne | oz/Ton | ppm | oz/Ton |
CS-20-39-W4 | 550.60 | 551.90 | 1.30 | 19,308 | 563.24 | 7,220 | 8.38 | |
Including | 25449 | 550.60 | 551.08 | 0.48 | 2,097 | 61.2 | 41 | 0.91 |
25451 | 551.08 | 551.50 | 0.42 | 53,739 | 1,567.6 | 22,209 | 23.31 | |
25453 | 551.50 | 551.90 | 0.40 | 3,809 | 111.1 | 97 | 1.65 | |
CS-20-39-W4 | 25430 | 475.30 | 475.70 | 0.40 | 2,019 | 58.9 | 133 | 0.88 |
*Gold equivalent only on the silver value, cobalt grade not included in calculation |
The potential of Castle East has significantly increased with the development of this second, distinct, high-grade silver vein. With follow-up drilling, the existing resource panels reported in a Press Release May 28, 2020, will be expanded. In that release, a district-wide maiden resource estimate identified zones 1A and 1B of the Robinson Zone had an average silver grade of 8,582g/t (250 oz/ton) in a combined 27,400 tonnes of material for a total of 7.56 millionInferred ounces of silver using a cut-off grade of 258 g/t Ag Eq (mineral resources that are not mineral reserves do not have demonstrated economic viability). 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).
Notably, Hole CS-20-39 also intersected a 17-metre zone (downhole from 505 to 519 m) with several narrow veins mineralized with both silver and cobalt-arsenides. With the additional data from the current wedges these veins look to be part of a lower-grade vein set (possibly en-echelon or anastomosing). Assays are still pending for this zone intersected in several holes.
Matt Halliday, P.Geo., President, commented: “This is the third intercept above 50,000 g/tonne Ag in Vein 2 (Big Silver). This particular vein appears to be thinning at this point, but the grade is incredible as it outperformed the wider intercept in CS-20-39W2. The Company will continue drilling Big Silver to see what comes up and will continue exploring for additional high-grade veins”.
Location
The Castle Property is 15 km east of Aris Gold Corp’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.
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 were identified. The discovery remains open in all directions (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. More information at www.canadasilvercobaltworks.com
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
- Published in Canada Cobalt Works, Mining, News Home
Newlox Establishes Brazilian ESG Gold Initiative
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LUX . CN) ( Frankfurt/Stuttgart: NGO ) (OTC : NWLXF ) is pleased to announce that in accordance with its long-standing objective, the Com pany has entered the Brazilian market, where it intends to develop precious metals projects in partnership with local artisanal miners, focussing on environmental, social, and corporate governance (ESG).
Newlox Gold is working in partnership with NAP.Mineração/USP , the centre for small-scale responsible mining at the University of São Paulo, Brazil. The partnership will support sustainable development within the vast Brazilian artisanal mining sector and support research, training, and education while fostering responsible management of mine development and governance.
T he research team engages and collaborates closely with both artisanal mining cooperatives and associations as well as conventional mining companies. Additionally, on a broader front, NAP.Mineração maintains artisanal mining-related collaborations with national and international institutions such as research agencies, mining cooperatives, universities, and government agencies.
Newlox Gold, with the support of NAP.Mineração/USP, has already identified two highly prospective areas suitable for the deployment of Newlox Gold ESG-focused precious metals processing plants. These projects are currently in due diligence, and further details will follow.
The Company is also pleased to advise that its Costa Rican operations continue to advance . Plant One, the remediation facility , is undergoing a modification to its processing circuit to increase throughput substantially, while Plant Two, the Boston partnership, is advancing construction according to plan.
A Message from Ryan Jackson, President & CEO:
“The Company has established a close connection with Brazil over many years through its Chief Technical Advisor, Dr. Marcello Veiga , who has worked closely with Newlox since 2014 and who now head s up the Company’s research and development division . Through our relationship with Dr. Veiga, the Company has assembled a team focused on identifying and assessing expansion opportunities in Latin America, with Brazil at the heart of this endeavour.
Newlox Gold has established a beachhead in Brazil through its partnership with NAP.Mineração/USP. We are excited to initiate the Company’s expansion program beyond Costa Rica and look forward to updating shareholders as we continue assessing the multiple opportunities available to the Company.”
- Published in Mining, Newlox Gold, News Home
Affinor Growers Orders Vertical Growing Towers for Commercial Showcase Facility in Abbotsford, BC
Affinor Growers Inc. (“Affinor” or the “Company”) (CSE: AFI OTCQB: RSSFF) is pleased to announce that it has ordered one hundred of its patented vertical growing towers for the production of strawberries and cannabis pending Health Canada licencing.
Affinor’s automated, vertical farming technology is expected to yield 3-4 kg per tower, per harvest of dried cannabis every 3 months. The planned cannabis facility will have a total of 40 growing towers in 200 square meters of allowable microcultivation. The balance of 60 towers will be used to grow premium strawberries for local markets.
The Abbotsford showcase greenhouse utilizes Affinor’s soil formulation, QA protocols and processes designed to ensure quality, reduce pathogens and address the microbial issues that the cannabis industry faces globally. Affinor has installed Tesla Powerwalls and Solar Panels, with plans to install closed loop composting equipment. Affinor is also filing new patents for drying and curing vessels, with encompassed process patents. This will ensure stable conditions throughout the process of drying and curing. The company has plans to grow across Canada, and works toward full ESG compliance globally. Affinor’s vertical farming technology levels the playing field for plant production globally.
Nick Brusatore CEO: “Revenue from this first facility should begin this year. This will showcase to the world, the Affinor Growers technological advantage in sustainable and automated design.”
About Affinor
Affinor is a publicly traded company listed on the CSE 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, vegetables, and cannabis in a sustainable manner.
To learn more about Affinor, visit: www.affinorgrowers.com
- Published in Affinor Growers, News Home
Granada Gold Mine Gets 10 Year Extension on Mining Lease BM 852 at the Granada Mine Property and Takes 500 Tonne Bulk Sample
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce that Mining Lease BM852 which is 24.8 hectares, was renewed for another 10 years till 2030. This Lease is part of the current resource and is part of the past-producing underground mine which was mined at a grade of 9.7 grams per tonne gold. The renewal keeps the current 26 permits in good standing for mining and shipping to a custom mill and allows the taking of bulk samples of up to 500 tonnes.
The extension required the closure plan to be revised and triggered an increase in financial assurances which was completed and paid. Another revised closure plan with revised bond will be necessary once Granada property goes into production.
Bulk Sample Highlight:
- A 500-tonne bulk sample of mineralized material and 900 tonnes of waste (low grade) were taken where diamond drill hole GR-19-A intersected 11.45 grams per tonne gold from 0 to 33 meters down hole (refer to Jan. 9, 2020, news release). A subsequent 1,220-kilogram mineralized material (blasted rock) sample was taken over a 3-metre strike length and returned 55.6 grams per tonne native gold (refer to Sept. 11, 2020, news release).
- A 100-kilogram mineralized material sample was sent to GEKKO in Australia to evaluate the amenability of upgrading using in-line pressure jigs. The company has visited GEKKO in Australia, and two plant installations using in-line pressure jigs, and found that using them to pre-concentrate the low-grade mineralized material may be viable for the Granada Mine Property. GEKKO has processed the material and has submitted a report on the findings of the testwork. The company is interpreting the results presently and is expecting to update the shareholders with a news release shortly.
- The 500-tonne bulk sample, obtained by drilling and blasting with rubber mats, has been crushed to smaller than 4 inches with a crusher set-up on the boom of the excavator and the company is currently looking to further process the mineralized material to get an overall assay. The bulk sample excavation site has been refilled and levelled for safety reasons.
Frank J. Basa, P.Eng., President and CEO: “Based on results from this bulk sample and the GEKKO pre-concentration test results, the company may rethink the resource grades and return to the original 43-101 historical in-situ Mineral Resources of 946,000 ounces gold at 1.02 grams per tonne Measured, 659,000 ounces gold at 1.09 grams per tonne Indicated and 1,033,000 ounces gold at 1.07 grams per tonne Inferred. A cut-off grade 0.4 grams per tonne gold was used”. (SGS NI 43-101 Technical Report PEA Granada Gold Project, February 4th 2013 by J. Gagné, G. Gagnon, C. Duplessis, G. Rousseau).
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 Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 140,000 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 four shafts and three 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 3.5 to 5 grams per tonne gold.
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. The final report was filed March 15, 2021 with an Effective date of December 15, 2020. The 43-101 Technical Report is titled: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc., géo. Both of SGS Canada Inc.
Updated Mineral Resource Estimate Base Case with Details Between the High-Grade (COG above 0.9 g/t) Pit-constrained 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 |
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
- Published in Granada Gold Mine, Mining, News Home
Canada Silver Cobalt Provides Update on Environmental Baseline Study
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to report that the environmental baseline study at Castle East is on track. The company undertook a Gap Analysis late 2020. Canada Silver Cobalt has since initiated an environmental baseline study in February this year.
Highlights:
- Phase I, Gap Analysis completed, consisting of initial site recon, planning of phase II and phase III program
- Significant progress with 10 monitoring well installations completed between April 29th and May 06th 2021.
- Phase II of III commenced on Q1, 2021 to complete environmental baseline study and permitting. Multiple studies are currently underway.
The completed Gap Analysis has outlined multiple studies required to move the project forward. Surface and Groundwater studies have begun with 10 monitoring wells having recently been drilled allowing monthly sampling.
Underway:
Groundwater monitoring is to characterize the amount and chemistry of groundwater around the site, this will assist in the ramp design process and the design of the water treatment system that will be required to treat water from underground development.
Surface water study is to establish baseline conditions of the surrounding surface water bodies, and feeds into the permitting for the industrial sewage work permit.
Aquatic studies are to establish the baseline conditions of the aquatic environment, including fish and fish habitat, benthic invertebrates, and sediment quality.
Terrestrial studies establish the baseline conditions of the terrestrial environment, checking for species at risk, ecological communities of conservation concern and significant wetlands.
Hydrology study of the surface water is conducted to establish the flow and hydraulic conditions of the lakes and creeks. Stations have been set up on Miller Lake and surrounding outflow sites to be monitored monthly.
Coming up:
Hydrogeological and geochemical studies will be commencing in the near future, Hydrogeology establishes the hydrogeological conditions of the site and will enable the development of a numerical hydrogeological model to support permitting.
Geochemistry studies are to determine the potential for Acid Rock Drainage (ARD) or metal leaching allowing the Company to be proactive in determining the best measures to treat the rock.
Matthew Halliday, P.Geo., VP Exploration and President of Canada Silver Cobalt Works, commented, “I am pleased to announce the that the environmental permitting and baseline study at Castle East is well under way. This has been an extremely busy year for Canada Silver Cobalt; not only have we completed our Maiden Resource in May 2020 but, since then, have drilled over 35,000 metres of the 60,000-metre program which will contribute significantly to a resource update. By initiating these activities early, we will ensure that the permitting process will be smoother and accomplished in a timely manner to take full advantage of this silver cycle. Canada Silver Cobalt Works is excited to be working with all stakeholders on this important project to become one of Ontario’s next critical metals producers in a timely, open and responsible manner.”
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO) President and VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
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 were identified. The discovery remains open in all directions (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