Sonoro Gold Announces $3.6 Million Private Placement
Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that it will undertake a non-brokered private placement offering (the “Offering”) consisting of up to 20,000,000 units (the “Units”) at a price of C$0.18 per Unit, for gross proceeds of up to C$3,600,000. Each Unit will be composed of one Sonoro common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional Sonoro Common share for a period of two years from the closing at an exercise price of $0.30 per share.
The Company intends to pay finder’s fees, as permitted under the policies of the TSX Venture Exchange, in respect of Units placed with the assistance of registered securities dealers. All securities issued and issuable in connection with the Offering will be subject to a 4-month hold period in Canada from the closing date. The Offering is subject to TSX Venture Exchange acceptance.
The net proceeds from the Offering will be used to fund a 10,000-meter drilling campaign, commencing this month, at the Company’s Cerro Caliche Gold Project in Sonora, Mexico. Details on the drilling program were announced on October 25, 2021 and the construction of access roads and drill pads has been initiated. Proceeds from the Offering will also be used for concession maintenance and general working capital.
Sonoro’s Chairman of the Board, John Darch, stated, “The drilling program will proceed alongside the proposed development of a Heap Leach Mining Operation (HLMO) as outlined in the recently-completed Preliminary Economic Assessment (“PEA”). The objective of the drilling campaign is to expand the project’s oxide gold mineralization and target higher-grade, near-surface mineralization identified during a recent surface sampling program. Increasing the size and grade of the resource could potentially improve the economics of the project and extend operations.”
About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development Company holding the near-development-stage Cerro Caliche project and the exploration-stage San Marcial project in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.
On behalf of the Board of SONORO GOLD CORP.
Per: | “Kenneth MacLeod” |
Kenneth MacLeod | |
President & CEO |
For further information, please contact:
Sonoro Gold Corp. – Tel: (604) 632-1764
Email: info@sonorogold.com
- Published in Mining, News Home, Sonoro Gold
Canada Silver Cobalt has Commenced Drilling at the Nickel-Copper Graal Property in Northern Quebec
Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that a 3,000-meter drill program has begun with two drills turning at its Graal-Nourricier-Lac Suzanne property in the Lac St-Jean region of Quebec.
The drill program is part of the Company’s early-stage exploration activities in northern Québec where it is evaluating 15 properties on 689 claims covering 38,129.4 hectares that are prospective for battery metals nickel, copper, and cobalt (See February 16, April 21 and July 22, 2021 news releases). The drill program is currently being managed by Laurentia Exploration in association with GoldMinds Geoservices Inc.
The Company has existing drill permits for most of the proposed drill hole set-ups, which will allow testing of the Bouguer (geophysical) anomalies contained within the Graal-Nourricier-Lac Suzanne property . This promising anomaly has not been fully explored. It is one of the five properties included in the Company’s geophysical airborne surveys conducted earlier this year and it is regarded as geologically one of the most promising in the short term. The detailed airborne gravity survey of five properties conducted earlier this year by Sander Geophysics Ltd. to enable identification of the highest Bouguer Anomaly of the anorthositic complex confirmed that the highest potential target area is on Graal property.
The Company is seeking to identify significant amounts of nickel-copper-sulphide mineralization at the base of the magmatic chamber. Historic drill results indicate mineralization on the side of the magmatic reservoir and it is theorized that the massive sulphide cumulates are potentially hidden at depth. The drill program aims to intersect deep targets and as well the rim contact at shallower depth.
Additionally, the Company has hired the professional services of Archéo-Mamu Côte-Nord to carry out a study on potential archeological sites in the area.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the National Instrument 43- 101 standards.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for Q1 2022.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained 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 Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. 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 silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, 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
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Granada Gold Mine Proceeds with Metallurgical and Environmental Studies for On-Site Milling at Granada
Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt: B6D) (the “Company” or “Granada”) is pleased to announce that it has engaged SGS Canada for metallurgical and environmental studies for on-site milling at its Granada project near Rouyn-Noranda, Que
The studies will be used for the planned application to modify the Company’s existing Quebec Certificate of Authorization, which currently allows for the open-pit mining of 8,000 tonnes per day at the property and the custom milling of 550 tonnes per day (200,000 tonnes per year) at a local mill.
Granada President and CEO Frank J. Basa, P.Eng., states: “Earlier this year the historical open-pit resource of 1 gram/tonne at Granada was recalculated to 2 grams per tonne open pit and 4 grams per tonne underground. More recently, we completed 30,000 meters of an in-fill drill program that includes the 100 and 200 series drill holes, with the results indicating there is more gold in the mineralized structures than defined by the historical 120,000 meters of drilling. The combined potential impact of these developments is a positive change in the processing economics of the project. We have therefore decided to begin the process for amending the existing permits to enable on-site milling at Granada.”
SGS Canada will be testing ore processing with the addition of calcite with gravity and cyanidation of gravity tails, as well as processing the ore by gravity and flotation for production of gold sulfides concentrates. The studies are expected to begin in November 2021.
Since the Granada 43-101 mineral resource estimate was last updated, the Company has completed 30,000 meters of a planned 120,000-meter drill program. An update of the estimate to include the latest drill results is planned for Q1 2022.
Location
The Granada Gold project is located in an established mining district 5 km south of Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone). The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million Ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 & Le Citoyen June 19, 2020).
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the National Instrument 43- 101 standards.
Mineral Resource Estimate
On March 15, 2021 the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020 and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
---------------------------------------------------- |Type |Category |Tonnes |Avg Grade|Gold | | | | |Au (g/t) |Ounces | |--------------------------------------------------| |Open Pit |Measured |3,756,000|1.89 |228,000| | |--------------------------------------| | |Indicated |1,357,000|2.55 |111,000| | |--------------------------------------| | |Measured +|5,113,000|2.06 |339,000| | |Indicated | | | | | |--------------------------------------| | |Inferred |34,000 |11.29 |12,000 | |--------------------------------------------------| |Underground|Measured |37,000 |4.22 |5,000 | | |--------------------------------------| | |Indicated |807,000 |4.02 |104,000| | |--------------------------------------| | |Measured +|844,000 |4.03 |109,000| | |Indicated | | | | | |--------------------------------------| | |Inferred |1,244,000|6.33 |253,000| ----------------------------------------------------
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
P: 416-625-2342
- Published in Granada Gold Mine, Mining, News Home
Usha Resources Announces First Tranche Closing and Extension of Private Placement
Usha Resources Ltd. (“Usha” or the “Company”) (TSXV:USHA)(OTCQB:USHAF) is pleased to announce that, further to its news releases of August 12, 2021 and October 14, 2021, it has closed the first tranche of the Company’s non-brokered private placement (the “Private Placement“), issuing an aggregate of 2,967,668 units (the “Units“) at $0.30 per Unit raising gross proceeds of $890,300.40.
Each Unit consists of one common share (a “Share“) and one-half of one transferable share purchase warrant (a “Warrant“) with each whole Warrant exercisable at $0.45 per share for a period of two (2) years from the date of closing, subject to an accelerated expiry if the closing trading price of the Company’s shares is greater than $0.75 per Share for a period of 10 consecutive trading days (the “Acceleration Event“). The Company will give notice to the holders of the Acceleration Event and the Warrants will expire 30 days thereafter.
All securities issued in the Private Placement will be subject to a four month and one day hold period plus the TSXV hold period. The Company paid finders’ fees totaling $40,271.01 cash and 134,237 non-transferable finder warrants (the “Finder Warrants“) to PI Financial Corp. and Haywood Securities Inc. in accordance with applicable securities laws. The Finder’s Warrants are exercisable on the same terms as the Warrants issued in the Private Placement.
The net proceeds from the Private Placement will be used for exploration of the Company’s new and existing portfolio of properties and for working capital and general corporate purposes.
The Company also announces that it has obtained an additional 30-day extension from the TSX Venture Exchange to close a second tranche of the Private Placement.
About Usha Resources Ltd.
Usha Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada. Usha is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Northwest Ontario, Canada and the Lost Basin Gold Mining District in Mohave County, Arizona, U.S.A. Usha increases shareholder value through the acquisition and exploration of quality precious and base metal properties and the application of advanced state-of-the-art exploration methods. Usha’s portfolio of strategic properties provides diversification and mitigates investment risk.
We seek Safe Harbor.
USHA RESOURCES LTD.
“Deepak Varshney” CEO and Director
For more information, please phone James Berard, Investor Relations, at 778-228-2314, email jberard@usharesources.com, or visit www.usharesources.com.
- Published in Mining, News Home, Usha Resources
Sirona Biochem Announces 2021 Annual Meeting Results: Shareholders Approve All Resolutions With Majority Vote
Sirona Biochem Corp. (TSXV: SBM) (FSE: ZSB) (OTC: SRBCF) (“Sirona“) is pleased to announce the voting results from its Annual General Meeting of Shareholders (the “Meeting”), held in Vancouver, British Columbia on November 10, 2021. The total number of shares represented by shareholders present in person and by proxy at the meeting was 33,335,079, representing 14.45% of Sirona’s issued and outstanding Common Shares.
All matters put forward to shareholders for consideration and approval, as set out in the Company’s Management Information Circular dated 12th of October, 2021, were approved by the requisite majority of votes cast at the Meeting. These were:
1. To elect Sirona’s board of directors; 2. to fix the number of directors of the Company at five; 3. to appoint DeVisser Gray LLP, Chartered Professional Accountants, as the Company’s auditor for the ensuing year and authorize the directors to set the auditor’s remuneration; and 4. to confirm and approve the Company’s existing stock option plan.
“We thank our shareholders for their participation and continued support,” said Dr. Howard Verrico, CEO of Sirona. “We look forward to further building and commercializing our pipeline.”
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
- Published in News Home, Sirona Biochem
Canada Silver Cobalt Prepares Battery Metals Business for Monetization
Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it has established a separate subsidiary for its battery metals business to be named Coniagas Battery Metals Inc. The new subsidiary will own the nickel-copper-cobalt exploration properties that the Company is currently exploring in northern Quebec and Ontario as well as the proprietary ‘Green’ Re-2Ox processing technology that is able to produce cobalt, nickel and copper sulphates for electric vehicle battery manufacturers.
“While the Company’s main focus continues to be our world-class high-grade silver deposit at Castle East with exploration drilling, environmental permitting, and a major resource update scheduled for Q1 2022 as outlined in a recent corporate update (November 1, 2021 news release), we are also taking additional steps along the path we had outlined previously towards surfacing value for our battery metals assets. The establishment of this new subsidiary will pave the way for an eventual spin-out of our battery metals business into a separate publicly traded company for the benefit of our shareholders,” stated CEO Frank Basa. (See news releases February 16 and July 22, 2021)
Matt Halliday, President, COO and VP Exploration, states: “Right now there is a lot of interest in battery metals and we think the best way forward to give our assets a higher level of visibility, and for achieving a proper valuation in the market, would be to split the Company into two parts – one focused on the exceptional Castle East silver discovery as well as the Kirkland Lake-area gold properties we recently acquired, and the other tasked with advancing our battery metals exploration properties and the Re-2Ox technology.”
Battery Metals Assets
Coniagas Battery Metals Inc. will include the Re-2Ox processing technology and 39,200 total hectares of prospective nickel-copper-cobalt exploration properties in northern Quebec (15 properties) and Ontario (one property east of the Sudbury Basin nickel deposits). Preliminary exploration is underway at the Quebec properties. (News releases February 16, April 20 and July 22, 2021).
Re-2Ox is a proprietary, environmentally friendly, closed-loop, hydrometallurgical process for the extraction of cobalt, nickel and other base metals from primary feeds (mined material) and secondary feeds (recycled battery black mass) and the subsequent production of cobalt, nickel and other sulphates needed in the battery industry. The process meets strict environmental standards because it does not involve smelting (or burning) that many other processes use and it has no discharge.
The Re-2Ox process has demonstrated that it is the only globally known hydrometallurgical process that can process high-arsenic feeds and recover and produce battery metals that meet Asian specifications for the electrical vehicle (EV) market. In bench scale testing at SGS Lakefield, it successfully produced cobalt sulfate for the battery market, and sodium arsenate as an intermediate product, from a high-grade silver-cobalt-arsenic gravity concentrate obtained from the past-producing silver-cobalt Castle mine. Cobalt, nickel and manganese recoveries from the concentrate using Re-2Ox were 99%, 81% and 84%, respectively, while 99% of the arsenic was also removed, which is important for complying with battery industry specifications. In addition to cobalt, arsenic is also on the US Critical Minerals List as it is an important ingredient in different products including pharmaceuticals, wood preservatives and industrial applications such as semiconductors.
Additional Re-2Ox testing for the design of a pilot plant is currently underway at the SGS Lakefield laboratories in Ontario. (For more information on Re-2Ox, see news releases May 31 and August 15, 2018 and January 15 and March 1, 2021, and also the Re-2Ox flow sheet and other details in the company’s corporate presentation at www.canadasilvercobaltworks.com and at www.re-2ox.com .)
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., 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 Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for the first quarter of 2022.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained 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 Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. 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 silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, 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, P. Eng .
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works, News Home
Canada Silver Cobalt Prepares Battery Metals Business for Monetization
Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it has established a separate subsidiary for its battery metals business to be named Coniagas Battery Metals Inc. The new subsidiary will own the nickel-copper-cobalt exploration properties that the Company is currently exploring in northern Quebec and Ontario as well as the proprietary ‘Green’ Re-2Ox processing technology that is able to produce cobalt, nickel and copper sulphates for electric vehicle battery manufacturers.
“While the Company’s main focus continues to be our world-class high-grade silver deposit at Castle East with exploration drilling, environmental permitting, and a major resource update scheduled for Q1 2022 as outlined in a recent corporate update (November 1, 2021 news release), we are also taking additional steps along the path we had outlined previously towards surfacing value for our battery metals assets. The establishment of this new subsidiary will pave the way for an eventual spin-out of our battery metals business into a separate publicly traded company for the benefit of our shareholders,” stated CEO Frank Basa. (See news releases February 16 and July 22, 2021)
Matt Halliday, President, COO and VP Exploration, states: “Right now there is a lot of interest in battery metals and we think the best way forward to give our assets a higher level of visibility, and for achieving a proper valuation in the market, would be to split the Company into two parts – one focused on the exceptional Castle East silver discovery as well as the Kirkland Lake-area gold properties we recently acquired, and the other tasked with advancing our battery metals exploration properties and the Re-2Ox technology.”
Battery Metals Assets
Coniagas Battery Metals Inc. will include the Re-2Ox processing technology and 39,200 total hectares of prospective nickel-copper-cobalt exploration properties in northern Quebec (15 properties) and Ontario (one property east of the Sudbury Basin nickel deposits). Preliminary exploration is underway at the Quebec properties. (News releases February 16, April 20 and July 22, 2021).
Re-2Ox is a proprietary, environmentally friendly, closed-loop, hydrometallurgical process for the extraction of cobalt, nickel and other base metals from primary feeds (mined material) and secondary feeds (recycled battery black mass) and the subsequent production of cobalt, nickel and other sulphates needed in the battery industry. The process meets strict environmental standards because it does not involve smelting (or burning) that many other processes use and it has no discharge.
The Re-2Ox process has demonstrated that it is the only globally known hydrometallurgical process that can process high-arsenic feeds and recover and produce battery metals that meet Asian specifications for the electrical vehicle (EV) market. In bench scale testing at SGS Lakefield, it successfully produced cobalt sulfate for the battery market, and sodium arsenate as an intermediate product, from a high-grade silver-cobalt-arsenic gravity concentrate obtained from the past-producing silver-cobalt Castle mine. Cobalt, nickel and manganese recoveries from the concentrate using Re-2Ox were 99%, 81% and 84%, respectively, while 99% of the arsenic was also removed, which is important for complying with battery industry specifications. In addition to cobalt, arsenic is also on the US Critical Minerals List as it is an important ingredient in different products including pharmaceuticals, wood preservatives and industrial applications such as semiconductors.
Additional Re-2Ox testing for the design of a pilot plant is currently underway at the SGS Lakefield laboratories in Ontario. (For more information on Re-2Ox, see news releases May 31 and August 15, 2018 and January 15 and March 1, 2021, and also the Re-2Ox flow sheet and other details in the company’s corporate presentation at www.canadasilvercobaltworks.com and at www.re-2ox.com .)
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., 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 Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for the first quarter of 2022.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained 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 Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. 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 silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, 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, P. Eng .
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
- Published in Canada Cobalt Works
Mosaic Minerals Announces the Start of Diamond Drilling on the Gaboury Project
Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “Corporation”) is pleased to announce the start of its first diamond drilling program on the Gaboury project, located in the Temiscamingue region of Quebec. The main objectives of this first diamond drilling program of approximately 1,500 meters extension are to test the lateral extensions of the Pike Nickel showing discovered by drilling in 2010 as well as to test the depth extension of the original discovery.
From a regional view, the Pike Nickel zone seems associated with an important magnetic anomaly of direction NN0 – ESE on which several other nickels showings are known such as the Kelly Lake showing1 (1.4mT grading 0.70% Ni and 0.70% Cu as well as 0.32 PGE -). The high precision heliborne magnetic survey carried out by Novatem during the summer of 2021 made it possible to visualize this high magnetic anomaly crossing the south part of the property over than 7 kilometers.
“We are very happy to start a first drilling program on this project. The upward trend in the price of minerals associated with the growth of the electric-vehicle industry makes it possible to look at low grade large volume projects containing different strategic minerals essential to battery production. In the environment of the Gaboury project, we note the presence of nickel, copper, and cobalt as well as some platinum and palladium showings which could bring additional value to the project”, said the CEO of the company Jonathan Hamel.
The Gaboury project comprises 82 claims covering an area of approximately 4,282 hectares and is accessible year-round by a provincial road system and by a set of forest roads. We also note the presence of several other gold, silver, and copper showings on the project. These showings are all located north of the Pike Nickel showing. The drilling program was awarded to the company Magma Drilling, of Rouyn-Noranda.
This press release has been read and approved by Jeannot Théberge, independent consultant geologist certified under NI 43-101.
1 ET 91-04 and Annual Report, Albany Oil and Gas Ltd, 1983
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mineral exploration company listed on the Canadian Securities Exchange (CSE: MOC) now focusing on the exploration for future strategic Copper, Nickel and Zinc deposits in priority on the Quebec Province territory which have a long and successful history of base metal production principally in the Rouyn-Noranda, Mattagami, Val-d’Or and Chibougamau mining camps.
On Behalf of the Board
M. Jonathan Hamel
President & CEO
jhamel@mosaicminerals.ca
- Published in Mining, Mosaic Minerals, News Home
Newlox Operations Benefit from 98% Renewable Electricity in Upgraded Power Service
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LU X.CN) ( Frankfurt/Stuttgart: NGO ) (OTC : NWLXF ) is pleased to announce that the Company’s processing plants have been approved for a major electrical upgrade by the Costa Rican national power company. Both Plant 1 and the upcoming Boston Project will benefit from connection to Costa Rica’s high-tension three-phase electrical system. Significantly more efficient operations and cost savings are anticipated.
Newlox Gold has always benefited from Costa Rica’s robust infrastructure. The upgraded electrical service offered to the Company’s processing plants will assist our goal of delivering low operational costs.
In addition to the economic benefits of the new service, Newlox is pleased to report that Costa Rica has, for the seventh consecutive year, achieved 98% renewable energy in its electrical grid .
Recent analysis indicates that Costa Rica generates 73.39% of its energy from hydropower, 13.84% from geothermal sources, 12.12% from wind and 0.63% from biomass and solar panels. Minister of the Environment and Energy Carlos Manuel Rodríguez adds that Costa Rica intends to continue to advance renewable energy development through modernization of the country’s infrastructure, including the transportation, waste, cattle, agriculture, construction and cargo industries.
A Message from Ryan Jackson, President & CEO:
“We are delighted to report that our projects in Costa Rica will soon be linked to the country’s high-tension three-phase electrical system designed for industrial operations. Connection to this system will increase efficiency and reduce power consumption at Newlox’s facilities, supporting the Company’s ESG goals.
What’s more, because the Costa Rican power grid is supplied with 98% renewable energy, Newlox’s processing plants are also run on 98% renewable electricity. Costa Rica’s green power grid, a major benefit of operating in the country, substantially enhances Newlox Gold’s ESG focus.
We can not only operate more efficiently because of the upgraded electrical infrastructure but the vast majority of the electricity we use will be generated from renewable sources.”
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. Grab sample results included in this press release are not necessarily indicative of the mineralization in general for the deposit. 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: + 1 604 256 0493
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