Sonoro Extends El Colorado Zone: Reports 14.6 g/t Gold Over 1.52 Meters Within a 16.77 Meter Intercept of 1.837 g/t Gold
Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to report assay results from an additional 25 RC drill holes completed at four of the 18 gold mineralized zones within the Cerro Caliche gold concession located in Sonora, Mexico. Recent drilling successfully tested on-strike and lateral extensions at El Colorado, Cabeza Blanca, Buena Vista and Boludito, as shown on the map below.
Highlights are as follows:
- SCR-234 in the southern extension of El Colorado intercepted 16.77 meters averaging 1.837 grams of gold per tonne (“g/t Au”); including 4.57 meters averaging 5.627 g/t Au; including 1.52 meters averaging 14.6 g/t Au.
- SCR-239 in the eastern extension of El Colorado intercepted 7.62 meters averaging 2.425 g/t Au; including 1.52 meters averaging 10.6 g/t Au.
- SCR-256 at Cabeza Blanca intercepted 12.19 meters averaging 1.067 g/t Au; including 4.57 meters averaging 2.10 g/t Au; including 1.52 meters averaging 3.701 g/t Au.
- SCR-247 at Buena Vista intercepted 25.91 meters averaging 0.578 g/t Au; including 3.05 meters averaging 1.784 g/t Au.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1c473b79-d376-47bc-b267-2283c3363edb
El Colorado Zone Expanded in Three Directions
Eight additional drill holes were completed in the El Colorado gold mineralized zone, bringing the total drilled in the zone to 22 holes and further extending the dimensions of the zone to the north, south and east. Gold bearing veins in this zone depart from the uniform northwest-prominent trend of the district and exhibit numerous splays and abrupt directional changes in the vein trends. Mineralization at El Colorado remains open in all directions and to depth.
Drill holes SCR-234 and SCR-239 both reported high grade vein intercepts. Located in the southern extension of the zone, SCR-234 reported 1.52 meters averaging 14.6 g/t Au within wider intervals of 4.57 meters averaging 5.627 g/t Au and 16.77 meters averaging 1.837 g/t Au. In the new southeastern extension of the zone and proximal to other prior high-grade intercepts, drill hole SCR-239 reported 1.52 meters averaging 10.6 g/t Au within a wider interval of 7.62 meters averaging 2.425 g/t Au. These vein intercepts may be a continuation of known veins such as the northwesterly-trending Guadalupe vein, the northerly-trending Cabeza Blanca vein, or the high-grade low angle Colorado vein identified in drill hole SCR-044 in 2018, the highest-grade drill hole completed at El Colorado. The Company plans to investigate these vein structures further in the next phase of drilling.
Veins from the El Colorado zone connect northward mainly with the Cabeza Blanca Vein zone and the Guadalupe vein. Drill hole SCR-246 located in the deep canyon between El Colorado and Cabeza Blanca shows several short connecting mineralized intervals where the Guadalupe and Cabeza Blanca veins intercept.
The image below illustrates a 300-meter cross section of selected drill holes at El Colorado.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf717567-ac98-45fb-8baa-7894e91fd7de
Cabeza Blanca Vein Zone Extended
Six new drill holes completed in the Cabeza Blanca gold mineralized vein zone extend the zone 50 meters to the north providing a more detailed understanding of the zone. Cabeza Blanca remains open along strike to the north and may coalesce with the El Colorado structure to the south, suggesting a continuous strike length of over one kilometer.
At the northern extension of the zone, approximately 150 meters from the bottom of Laydame Canyon, drill hole SCR-245 intercepted 1.52 meters averaging 1.990 g/t Au within a 3.05 meter-wider intercept averaging 1.118 g/t Au. The remaining five drill holes are spaced upslope to the south over a distance of 235 meters to the top of Cabeza Blanca ridge.
Highlights are as follows:
- SCR-253 intercepted 12.19 meters averaging 0.792 g/t Au; including 1.52 meters averaging 2.159 g/t Au.
- SCR-256 intercepted 12.19 meters averaging 1.067 g/t Au; including 4.57 meters averaging 2.10 g/t Au.
Among the six-drill holes recently completed at Cabeza Blanca, SCR-256 is the furthest south and is located approximately 35 meters north of the previously announced SCR-096 which intercepted 16.76 meters averaging 0.841 g/t Au including 4.57 meters averaging 2.419 g/t Au.
The image below illustrates a 600-meter longitudinal section of selected drill holes at Cabeza Blanca.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c68e8c97-21ae-4219-9987-ed557a85ff3f
Drilling at Buena Vista-Japoneses Suggests Potential Coalescence with Buena Suerte Zone
Drilling at the western extension of the Buena Vista zone continues to narrow the gap between the Japoneses–Buena Vista and Buena Suerte zones. Each drill hole intercepted gold mineralization at or near surface.
Highlights are as follows:
- SCR-244 intercepted 24.38 meters averaging 0.401 g/t Au.
- SCR-247 intercepted 25.91 meters averaging 0.578 g/t Au; including 3.05 meters averaging 1.784 g/t Au.
- SCR-254 intercepted 4.57 meters averaging 0.894 g/t Au and 9.6 g/t Ag.
Results from nine additional drill holes completed between Buena Vista and Buena Suerte are being processed for assays with results expected within ten days. The Company anticipates these drilling results to further support the potential merging of the two zones into a single body of shallow, oxide gold mineralization. If confirmed, a single larger gold mineralized zone may prove to have significant and positive economic implications for the Company’s proposed Heap Leach Mining Operation (HLMO).
Boludito Zone Extended to the North
Seven new holes drilled at the Boludito zone further confirm the zone’s mineralization as an extension of the strategically important 1.3-kilometer long Cuervos-Japoneses-Boludito gold mineralized structure. All seven holes were drilled on the northern slope of Laydame Canyon situated to the south between the Boludito and Japoneses zones. The group of drill holes indicate a general continuation of mineralization at lower gold grades with slightly higher silver content than mineralization identified south of the canyon bottom.
Highlights are as follows:
- SCR-233 intercepted 4.57 meters averaging 0.721 g/t Au.
- SCR-235 intercepted 7.62 meters averaging 0.402 g/t Au.
- SCR-237 intercepted 10.67 meters averaging 0.629 g/t Au and 9.8 g/t Ag, including 1.52 meters averaging 2.09 g/t Au and 39.2 g/t Ag.
These drill holes represent an extension of the Boludito mineralized zone to the north of Laydame Canyon by approximately 150 meters.
Mel Herdrick, VP Exploration of Sonoro, stated, “These 25 drill holes have shown continuing expansion of gold mineralization in all four zones. The final nine drill holes assay reports arriving over the next week will show the character of the area between the Buena Suerte and Buena Vista-Japoneses zones. Surface rock in that area is strongly silicified with quartz veinlets all overprinting mylonite structures in quartzites with about one percent limonite from oxidation. I consider this intermediate area to be prospective for additional gold mineralization.”
Kenneth MacLeod, President and CEO of Sonoro, stated, “Upon the imminent receipt of the final assays for the current phase of the drill program, our database will contain over 47,500 meters of historic and recent data from 433 core and RC holes, of which 34,550 meters were drilled by Sonoro since 2018. The data will be processed by Micon International in the preparation of an updated NI 43-101 technical report and by D.E.N.M. Engineering in the preparation of a Preliminary Economic Assessment on the Cerro Caliche project. We anticipate a resumption of the drilling program in August 2021, following receipt of these reports.”
John Darch, Chairman of Sonoro, added, “These drilling results continue to affirm the potential of Cerro Caliche to host a major deposit amenable to support the proposed 15,000 to 20,000 tonnes per day Heap Leach Mining Operation (HLMO). Investors’ recognition of this potential was evident when our recent financing was over-subscribed despite being increased twice. Of Cerro Caliche’s 18 zones, this drilling focused on four different gold zones – all demonstrating significant increases in size with more high-grade gold intercepts reported in every zone. As these zones expand, many are evidencing coalescence into larger mineralized structures which would be optimal cost-wise if these multiple gold zones merge into a single major open pit mining operation. With the conclusion of the current drilling program, the development of the Cerro Caliche HLMO should accelerate as we approach critical milestones, including Cerro Caliche’s NI 43-101 resource update, its preliminary economic assessment and securing project finance for the construction and commissioning of the mine.”
Assay Results
Drill collar locations, azimuths and dips for the drill holes included are provided in the table below.
Quality Assurance/Quality Control (“QA/QC”) Measures and Analytical Procedures
Drill samples are collected with an airstream cyclone and passed into a splitter that divides each sample into quarters. The quartered samples are then bagged and sealed with identification. The sample group has blanks, standards and duplicates inserted into the sample stream.
Bureau Veritas (BV) collects from the drill site the samples and transports them directly to the preparation laboratory in Hermosillo, Sonora. At the preparation laboratory, a split part of each sample (about 500 grams) is reduced through crushing, splitting and pulverization. Thirty grams of each pulverized sample is split apart in the Hermosillo laboratory and undergoes a “Fire Assay” for gold content by reducing the fire assay to a concentrated button of material that is dissolved in acids and the gold content determined by atomic absorption. About another 200 grams of each sample are sent by BV to their Vancouver, Canada laboratory and dissolved there in aqua regia for multi-element ICP analysis, including silver. No QA/QC issues were noted with the results received from the laboratory.
Geologic Description
Cerro Caliche is located 45 kilometers east southeast of Magdalena de Kino in the Cucurpe-Sonora Mega-district of Sonora, Mexico. Multiple historic underground mines were developed in the concession including Cabeza Blanca, Los Cuervos, Japoneses, Las Abejas, Boluditos, El Colorado, Veta de Oro and Espanola. Mineralization types of the Cucurpe-Sonora Mega-district include variants of epithermal low sulfidation veins and related mineralized dikes and associated volcanic domes. Local altered and mineralized felsic dikes cut the mineralized meta-sedimentary rock units and may be associated with mineralization both in the dikes and meta-sedimentary rocks.
Qualified Person Statement
Stephen Kenwood, P.Geo., a Director of Sonoro, is a Qualified Person within the context of National Instrument 43-101 and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of economic gold mineralization in the concessions held by the Company.
Private Placement
On April 20, 2021, the company announced the closing of its oversubscribed non-brokered private placement of 17,283,586 units at $0.18 per unit, for total gross proceeds of $3,111,045. Each Unit consists of one Sonoro Common Share and one Share Purchase Warrant. Each warrant entitles the holder to purchase one additional Sonoro Common share for a period of two years from the closing date at an exercise price of $0.30 per share.
In connection with the Offering, the Company entered into finder’s fee agreements with Haywood Securities Inc. (“Haywood”), Echelon Wealth Partners Inc. (“Echelon”), Couloir Capital Securities Ltd. (“Couloir”), Canaccord Genuity Corp. (“Canaccord”) and National Securities Corp. (“National Securities”).
The Company would like to take this opportunity to clarify that it paid a total of $26,406 in Finder’s Fees, not $80,110, as incorrectly announced in the Company’s new release dated April 20, 2021. The Company also paid $9,722 in Finder’s units and 167,922 in non-transferable Finder’s Warrants.
The net proceeds from the Offering will be used principally to fund ongoing development plans at Cerro Caliche, including completion of metallurgical testing, preparation of a NI 43-101 resource update, a Preliminary Economic Assessment, in addition to property maintenance payments, and secondarily for corporate and general administrative expenses.
The Offering has received conditional acceptance from the TSX Venture Exchange but remains subject to receipt of final approval from the TSX Venture Exchange.
About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development company with a portfolio of exploration-stage precious metal properties 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
Forward-Looking Statement Cautions: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, the Company’s plans for the exploration, development and operations at the above-described Cerro Caliche Concessions, located in the municipality of Cucurpe, Sonora, Mexico, including statements regarding the Company’s plans for additional exploration drilling, an anticipated update of the current resource estimate for Cerro Caliche to be included in a Micon International 43-101 technical report, and an independent PEA, both to be published in Q3 2021, the expectation that the planned PEA will support the Company’s mine development plans, anticipated coalescing of multiple mineralized zones, the results of pending assays, and other material conditions set out above on which the Company’s development plans are dependent. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, “prospective” and similar expressions, or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility of unfavourable exploration and test results, unfavourable results of the contemplated PEA of the Cerro Caliche project, the lack of sufficient future financing to carry out exploration and development plans and unanticipated changes in the legal, regulatory and permitting requirements for the Company’s exploration programs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Figure 1
Recent Drilling Successfully Tested On-Strike and Lateral Extensions at El Colorado, Cabeza Blanca, Buena Vista and BoluditoFigure 2
El Colorado Interpretive Cross Section A-A’Figure 3
- Published in Mining, News Home, Sonoro Gold
Canada Silver Cobalt Hits High-grade Silver At 51,612 g/t
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce the additional wedge intercept of the second high-grade silver vein (Vein 2) within 60 metres of the Robinson Zone Discovery hole CA-1108. The Robinson Zone Project is 100-percent owned by the Company, in the 78-square-kilometre Castle Silver Mine property, in Gowganda, Ontario, Canada.
Highlights and updates:
- New intersection of Vein 2 assays 51,612 grams per tonne (1,506 ounces per ton) over 0.41m from 561.73 – 562.44m with a true width of 4-6cm and included in a wider interval of 30,931 grams per tonne (902 ounces per ton) over 0.71m in CS-20-39W2
- Follow up from CS-20-39 – the highest-grade silver to date at Robinson Zone at 89,853 grams per ton silver (2,621 ounces per ton) over a true width of 5-7cm (January 29th, 2021). Wedge 2 intercept about 6 metres from original hole
- Visually highly mineralized core interval approximately 13m from Wedge 2 in hole CS-20-39W4. Interval is over 0.95 metres including wallrock silver at a downhole depth of 550 metres. Vein has an approximate true width 2-3 cm.
- Core from CS-20-39 wedge 4 intersections and bordering core is split and samples have been sent to Lab for assaying. Assays are pending.
High-grade silver mineralization over 4 – 6 cm true width in hole CS-20-39W2 at 51,612 gpt (1,506 opt) Ag over 0.41m
Table 1: CS-20-39W2 Sample Details
Ag | ||||||
Hole Id | Sample | From (m) | To (m) | Length (m) | gpt | opt |
CS-20-39W2 | 561.73 | 562.44 | 0.71 | 30,931 | 902 | |
including | 13247 | 561.73 | 562.14 | 0.41 | 51,612 | 1,506 |
13248 | 562.14 | 562.44 | 0.30 | 2,668 | 78 |
* true width is 4-6cm
Visually High-grade silver mineralization over 2-3 cm true width in hole CS-20-39W4 at 551.1m depth – assays pending
This new high-grade vein panel is being expanded using wedge drilling. Additional assays and expanded panel size will be updated as results become available. The potential of the Robinson Zone 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 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 AgEq (mineral resources that are not mineral reserves do not have demonstrated economic viability).
Notably, Hole CS-20-39 also intersected a 17-metre zone (downhole from 502 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 a group of en-echelon veins. Assays are pending for this zone intersected in several holes.
Matt Halliday, P.Geo., President, commented: “Vein 2, or ‘Big Silver’, is evolving significantly with the ongoing wedge drilling and is shaping up to be even nicer than Vein 1, or ‘Robinson Vein’. Further drilling is expected to continue to enlarge this zone”.
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. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020).
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2021/26/c5845.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Completes Geophysical Airborne Survey, Plans Drill Program on Quebec EV Properties
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to provide an update on its activities in the Province of Québec. The Company has now secured 689 claims covering 38,129.4 hectares of prosperous ground with Figure 1 showing the location of the main properties. The Company has budgeted 2.2 million dollars of exploration for these properties this year. Geophysical airborne surveys completed, and drill program has been scheduled on the B2 property for the second quarter this year.
Highlights:
1) The Geophysical Airborne Survey
2) The CCW approach for nickel and copper properties
3) Historical highlights on the key properties for 2021
Canada Silver Cobalt contracted Sander Geophysics Limited to carry out geophysical airborne surveys on 5 properties in Quebec. The airborne surveys were aimed at measuring the Gravity and Magnetic field. The Company is seeking to identify the magmatic reservoir potentially hosting significant amounts of Nickel- and Copper-Sulphide masses at the base of the magmatic chamber. The priority target areas of these first airborne surveys are the following properties:
- Graal – Nourricier Lac Suzanne
- Lowney, Lac Edouard South-East
- Forgues East Manic Crater
- Fuchsia-Massif du Nord
- B15 Bouguer anomaly
The final reports are pending, and details will be disclosed once received and evaluated. This information will be used to prepare subsequent drill programs. Technical datasheets are being prepared for each of the properties and will be posted on the website once completed.
The Company has started preliminary geological sampling on the B2 & Grand Portage properties. The B2 property option has shown high-grade Copper in the discovery showing and a maiden drill program is expected to start by the second quarter to test the mineralized structure identified. Mineralization appears to be associated with a structural shear (Figure 2 shows sulphide mineralization from channel sample). The observations from the channel sampling indicated the property deserved additional work and a ground magnetic orientation survey was completed (Figure 3 shows the first vertical derivative ground magnetic survey with channel sample and high-grade sample (starred) locations identified). A total of 41 channel samples with 3 blanks and standards were sent to SGS Laboratory in Québec. The highest grade came from the gossan sample with 17.53% Copper, 0.245 % Nickel and 0.026 % Cobalt, while channel sample results range from 25 to 2887 ppm Copper, 11 to 3452 ppm Nickel, and 11 to 385ppm Cobalt.
At Grand Portage, geological sampling with a portable drill with 30-centimetre depth capability using (AQ) drill core has confirmed the presence of mineralization of interest at surface. Figure 4 shows sulphide mineralization in the 3.2-cm diameter core. The mineralization associated with mafic-ultramafic blobs deserves additional work. Five core samples with 1 standard were sent to AGAT laboratory in Ontario. The highest grade came from sample #10404 with 1.63% Nickel, 0.61% Copper and 0.068% Cobalt. Samples range from 0.02 to 0.61% Copper, from 0.05 to 1.63 % Nickel, from 0.011 to 0.06% Cobalt, from 1 to 7 g/t Silver, from 0.001 to 0.04 g/t Gold and from trace Palladium 0.002 to 0.007 g/t.
CEO Frank J. Basa, P.Eng. notes, “It is Canada Silver Cobalt’s intention to transfer its non-silver assets, in exchange for shares, to another public company to be identified by the Company, and to do a proportional distribution of shares by way of dividends to Canada Silver Cobalt’s shareholders.” Frank J. Basa, P.Eng., further comments, “This transaction will enhance shareholder value by offering exposure to two strong developing market forces with increased investor focus to the potential that the company sees with a pure precious metal play with the Robinson Zone from the former high-grade Castle Silver Mine area in Gowganda, Ontario and with the EV properties that have been recently acquired in Quebec and Ontario.”
The CCW approach in Québec for Nickel & Copper deposits
In 2020 the Company staked known showings and made option agreements to secure, as of today, a total of 689 claims covering 38,129.4 hectares of prospective Nickel and Copper mineralization. Of these, 27,738.6 hectares in 501 claims is 100%-owned by Canada Silver Cobalt and 36 Claims over 1981 hectares are under option with Globex Mining Enterprises (Lac Suzanne & Massif du Nord ) and another 152 Claims covering 8409.8 hectares with Frederic Bergeron (B2 property) .
The main drivers for determining primary targets in Québec, largely in the Grenville geological province, are the Bouguer Gravity anomalies combined with the presence of mineral showings, positive drilling results and positive geology. The secondary targets show associations with structural shear zones.
The mineralization model is the classic Martini Glass – Saint Graal shape (Figure 5). In the Magmatic Mineral Deposits image where disseminated and net-textured sulphides are on the sides of the magmatic reservoir and massive sulphides at the bottom of the glass as in the figure below (source: Earth Science Australia, earthsci.org).
GoldMinds was mandated to identify properties for CCW with the potential of having such a reservoir with a significant amount of hidden massive sulphides. The selected magmatic intrusions differ in size, however the largest and most extensive have a much higher chance to hide a significant massive sulphide deposit. In some places, an interesting relationship between the identified reservoir and high potential Nickel-Copper magmatic deposit and the presence of Biodiversity preserves was identified. As the selection of biodiversity preserves by Natural Resources Fauna & Parks, and the Ministry of Environment are independent of the Natural Resources development, Goldminds surmises the gravity, as well as mineral-rich basement, has enabled plant, insect, and mammal species biodiversity to develop better in these specific areas independently. As such, the Company’s Forgues East Manic Crater property in Mont-Groulx is outside of the ecologic preserves where the sweet spot with the most significant showing and Bouguer Gravity anomaly occurs. Our conceptual model suggests that the meteorite impact was north-northeast and has created the Mont-Groulx platform, substantiated by the presence of the Gravity anomaly combined with the Nickel-Copper showing. This is also observed in the Fushia/Massif du Nord where the center of the reservoir is covered by a restricted area. It is also important to consider the Bouguer anomaly geophysical survey. The Bouguer anomaly is a precise drill target method as the anomaly locates directly above the body of higher density.
The case study of the massive Kidd Creek mine deposit is a clear indication of this. Figure 6 (source: Abitibi Geophysics) shows the Vertical Bouguer VMS signature versus other techniques which offset the location of the body. The bigger the Bouger anomaly is, the bigger the deposit can be.
Highlight of the key properties
The Graal – Nourricier Lac Suzanne, Lowney (Lac Edouard), Fushia Massif du Nord and Forgues East Manic Crater properties are the most promising magmatic reservoirs identified as it stands today. The Company’s intention is to drill right on the maximum Bouguer Anomaly identified. Below are some highlights (mostly historical data retrieved from public reports and information on SIGEOM) on the main properties of interest where we are of the opinion that the results to date are only mineralization on the side of the magmatic reservoir and the Massive Sulphides are still hidden at depth.
GRAAL – Nourricier Lac Suzanne
This property, comprising 71 CCW claims over 3,947 Hectares and 23 optioned claims from Globex comprised of 3 distinct blocks totaling 1,276 hectares for a combined total of 5,223 hectares, is the most promising target. It is southeast of Lac à Paul Arianne Phosphate deposit. The property is located approximately 160 kilometers NNE of the city of Saguenay and 272 kilometers east of Chibougamau in NTS 22E15. The central and southern claim blocks are underlain by anorthosites, gabbros and troctolites pertaining to the anorthositic suite of Lac-St-Jean, whereas the northern block is underlain by tonalitic and trondhjemitic gneisses pertaining to the Rouvray gneissic Complex.
Previous work on the Lac Suzanne property was performed by Mines d’Or Virginia Inc. between 1997 and 2001. This work consisted of airborne geophysical surveys (magnetic and electromagnetic) followed by ground surveys (magnetic and electromagnetic – MaxMin) in order to more precisely locate the anomalies that were outlined by the airborne surveys. These surveys were followed by geological mapping, trenching, blasting, soil geochemical and rock sampling. The last exploration work done, within the limits of the present claims, consisted of diamond drilling, where 13 holes were drilled totaling 1,473 meters. The MaxMin survey delineated a good electromagnetic conductor over a strike length of over 6.5 kilometers which has only been sparsely explored, with up to 800 meters drill hole spacing or more and the deepest hole investigated at merely a 100 meters vertical depth. Knowing this, there remains a lot of ground to investigate more thoroughly.
The best results from the rock and drill core sampling returned grades of up to 10.31% Nickel, 4.9% Copper and 1% Cobalt from diamond drilling. The mineralization found on the Lac Suzanne property is of the magmatic massive sulphide type where sulphides are concentrated within a magmatic chamber. The Voisey’s Bay deposit in Labrador (141 million tonnes of ore grading 1.63% Nickel, 0.85% Copper and 0.09% Cobalt. Source of information (Current Research (2003) Newfoundland Department of Mines and Energy Geological Survey, Report 03-1, pages 231-239 – VOISEY’S BAY AND THE NICKEL POTENTIAL OF LABRADOR: A SUMMARY FOR THE NONSPECIALIST by A. Kerr.) is of this same type. The exploration work done on the Lac Suzanne thus far has barely scratched the surface. As exploration deepens, there is a good chance that richer grades might be encountered. There are many identified, near-surface mineralized zones which dip toward the Bouguer Anomaly sweet spot.
On the Nourricier portion, there is Nourricier A (97-01), A (97-c235), B (NB 97-01) B (NB97-02) sector. The hole collar NA-97-01 (GM 56023) locates the deposit. It is near the RT-97-C238 trench which revealed even higher grades. “Recognized intrusive breccias in the Feeder (Nourricier) Sector (A and B) with fragments of olivine containing droplets of sulphides indicating crystallization of olivines in a sulphide bath are strongly similar to mineralization at Voisey’s Bay”.
The host rock is gabbro or anorthosite injected with levels of pyrrhotite which give the rock an appearance of breccia. The mineralization consists of disseminated to massive pyrrhotite (max 70%) sometimes accompanied by chalcopyrite (1% or less) and garnet (35%, when the matrix is gabbro, at 45.5 m in the hole). Magmatic mineralization, dominant Nickel-Copper (± Cobalt ± PGE), is associated with anorthositic-troctolitic massifs.
MHY A (97-03) MHY (97-02) Occurrence
Highlight:
MHY-97-02: 0.21% Copper, 0.22% Nickel and 338 ppm Cobalt over 0.6 m to 22.5 m; 0.12% Copper, 0.27% Nickel and 395 ppm Cobalt over 0.3 m to 34.8 m; Blasting: RT-97-C319: 0.18% Copper, 0.2% Nickel and 319 ppm Cobalt; Blasting FL-97-C 15: 0.1% Copper, 0.28% Nickel and 900 ppm Cobalt (smp689824); 0.62% Copper, 0.13% Nickel and 276 ppm Cobalt (smp689751); 0.53% Copper, 0.09% Nickel and 171 ppm Cobalt (smp689753).
MHY-97-03: 1447 ppm Copper, 5143 ppm Nickel and 533 ppm Cobalt over 0.6 m to 16.4 m; 0.6% Copper over 0.8 m to 12.3 m; SM-97-C-21: 0.52% Copper and 0.06% Nickel; RT-97-C-240: 0.22% Copper; RT-97-C-245 (400 m to the southwest): 0.34% Copper and 0.12% Nickel. GM 59143: drillhole 1279-01-35 (360 m to the northeast): 0.37% Nickel, 0.18% Copper and 0.04% Cobalt over 4.3 m including 0.95% Nickel over 0.5 m.
Lake Suzanne North
Occurrence of massive sulphide veins.
Highlight: The best values from hole 1279-01-37 show 0.29% Nickel, 0.05% Copper and 0.03% Cobalt over 1.0 m; 0.3% Copper over 0.3 m; 12.65% TiO2, 13.16% MgO and 0.2% P2O5 over 30.6 m
Suzanne Lake-NO
The mineralization occurs in the form of massive sulphide veins intersecting massive and very homogeneous units of amphibole anorthosite and leucogabbro.
Highlight: Drill hole 1279-01-36 has 10.31% Nickel, 0.06% Copper and 0.05% Cobalt over 0.3 m, as well as 0.14% Nickel, 4.27% Copper and 0.03% Cobalt over 1.0 m. This interval corresponds to a centimetric vein of sulphides rich in chalcopyrite intersecting the drillhole at a low angle.
Lac Edouard South East – Lowney
Located in NTSC 31P09, the property is composed of 67 claims covering 3,622.5 hectares. Highlight: South of the former historical mine grades of 2.17% Nickel and 0.53% Copper over 7.1 m and 1.00% Nickel and 1.00% Copper over 3 m were identified (holes 745 and 736, GM 27800, page 6). The CCW claims location correspond to the highest Bouguer Anomaly data.
Fushia- North Massif
The property in NTSC 22K16 totals 87 Claims covering an area of 4,718.43 hectares. CCW owns 74 Claims over 4,013.43 hectares in addition to the Globex Massif du Nord option of 13 Claims over 705 hectares.
Highlight: Source GM 55930: Borehole 1181-98-22: 0.56% Nickel, 0.28% Copper and 0.02% Cobalt over 1.49 m from 46.82 m to 48.31 m including 1.10% Nickel, 0.37% Copper and 0.05% Cobalt over 0.62 m from 47.22 m to 47.84 m. GM 55900: 0.39% Nickel, 0.16% Copper, 251 ppm C; Grab sample, 1.40% Nickel, 0.12% Copper, 830 ppm Cobalt.
As well 1.30% Nickel, 0.43% Copper, 0.07% Cobalt over 2.10 m from 56.32 m to 58.42 m (hole 11-1-97-05, GM 55608); 0.41% Nickel, 0.36% Copper, 0.03% Cobalt over 5.45 m (channel samples, GM 54733) including 0.69% Nickel, 0.39% Copper, 0.14% Cobalt over 2.85 m. “The average of seven analyses of semi-massive and massive Nickel-bearing sulphides gives 1.51% Nickel, 0.28% Copper and 0.10% Cobalt” (GM 55900, p.15). “The average of twenty-three analyses of mineralized pegmatite gives 1112 ppm of Nickel, 1740 ppm of Copper and 83 ppm of Cobalt” (GM 55900, p.16). Sampling about 400 m to the North of the first showing discovered, gave 1478 ppm Copper in a biotite-graphite paragneiss (GM 55900 p.15). MRNF (2011 field campaign): Analysis of a sample from a trench yielded 1.30% Nickel and 0.43% Copper over 2.1 m. A sample chosen by the MRNF gave, on analysis, > 1% Nickel, 0.12% Copper, 0.11% Cobalt, 133 ppb Palladium, 1.7 ppb Platinum and 3 ppb Gold, for 34.6% Sulfur.
Forgues 8305 Sud – NE East Manic Crater – Mont Groulx
In NTSC 22O12, a total of 26 Claims covers an area of 1390.53 hectares.
Showing grab sample highlights: 0.44% Nickel, 0.12% Copper and 0.09% Cobalt (Chosen sample No. 8305, GM 52850); 0.06% Nickel, 0.04% Copper and 0.02% Cobalt (Chosen sample No. TC-94-80A2); Forgues 8314: 0.199% Copper, 0.16% Nickel, 0.02% Cobalt, and 0.01% Zinc.
Grand Portage
In NTSC 22F04, a total of 39 Claims covers an area of 2196 hectares. The structurally controlled mineralization is associated with mafic rocks.
Highlight: Sample 07-AE-5190A gave the following results (SGDAC 2007045639): 19.91% Fe2O3, 1.18% TiO2, 0.34% P2O5, 147 ppm Vanadium, 4596 ppm Nickel, 1936 ppm Copper, 5 ppb Palladium, 0.4 ppm Silver, 3.4 ppb Gold, 2.53% Sulphur. GM 65449: In 2011, this deposit was the subject of a re-analysis by a prospector (Jacques Tremblay). The best grades returned: 4630 ppm Copper and 9540 ppm Nickel (Chosen sample G.P. 09-04); 3530 ppm Copper and 11,950 ppm Nickel (Selected sample G.P. 09-07). GM 67942: the best results among the samples chosen are 7050 ppm Nickel, 3500 ppm Copper, 175 ppm Cobalt (sample 3328); 3120 ppm Nickel, 1395 ppm Copper, 120 ppm Cobalt (sample 3325). The best result obtained among the channel samples was 0.83% Nickel over 1 m. One sample from a portable manual drill returned 5.09% Nickel, 0.17% Copper and 0.119% Cobalt (sample 9389).
B2 Property – Frederic Bergeron option
Located in 22E11, the B2 discovery is an entirely new showing in the whole area. It has 152 claims comprising 8409.8 hectares. The property contains new showings for Nickel-Copper-Cobalt, and for Copper-Silver-Gold that were discovered by Alain Berclaz and Frederic Bergeron in 2019. It is north of Lac-St-Jean and is accessible by gravel road.
Exploration results of the owners:
- The mineralized zone is trending NNW-SSE and traceable along strike over about 1 kilometer and is open in all directions. A series of 21 samples have been cut and analyzed by a portable XRF. Preliminary results returned (# A0066060 to A0066080): Up to 1.5 % Nickel, 1.2 % Copper, 0.21% Cobalt for massive Nickel-Copper-Cobalt mineralization. Up to 2.3 % Copper, 0.4% Nickel for the epithermal veinlets associated with quartz injections.
- Stripping of the B2 Showing over a strike length of 35 m and a width of 8-10 m produced a total of 5 grab samples which returned the following assays:
for massive Nickel-Copper-Cobalt mineralization:
- 1.05 % Nickel, 0.13 % Copper, 0.10 % Cobalt
- 0.96 % Nickel, 0.10 % Copper, 0.09 % Cobalt
- 0.69 % Nickel, 0.62 % Copper, 0.19 % Cobalt
for the epithermal veinlets associated with quartz injections:
- 9.28 % Copper, 18.2 g/t Silver, 0.34 g/t Gold
- 2.97 % Copper, 5.7 g/t Silver, 0.29 g/t Gold, 0.10 % Nickel
The mineralization on the B2 Showing is associated with a regional fault structure.
QA/QC samples were sent to SGS for B2 and to AGAT laboratory for Grand Portage with blanks and standards. The control samples of the laboratory are also in line with the expected results and enable public disclosure of the preliminary results in this release.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters, was identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the 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 feature strong exploration upside for silver, cobalt, nickel, gold, and copper in the prolific past-producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2021/20/c3539.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Closes Flow-Through Private Placement
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) announces that the Company has closed a non-brokered private placement by way of issuing 2,021,276 flow-through units (“FT Units”) at a price of $0.47 per FT Unit raising gross proceeds of $950,000.
Each FT Unit is comprised of one flow-through common share of the Company and one half of one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.58 per share, for a period of two years from closing, subject to TSX Venture Exchange (“Exchange”) approval.
The Company has paid Finder fees in the amount of $66,500 and issued 141,490 finder warrants in connection with the FT private placement. The finder’s warrants are on the same terms as the financing warrants. The finder fees are subject to Exchange approval.
All securities issued in connection with the private placement will be subject to a four–month and a day hold period expiring on August 8, 2021 in accordance with applicable Canadian Securities Laws.
About Canada Silver Cobalt Works Inc. www.canadasilvercobaltworks.com
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters were identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters east of the 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
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2021/07/c5528.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Northern Lights Assays 30.6 g/t Gold Surface Sample at Secret Pass Gold Project in Arizona
Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE:NLR)(OTCQB:NLRCF) is pleased to announce the results from a stream sampling program at Secret Pass Gold Project in Mohave County, Arizona.
Northern Lights completed a property-wide stream sampling program comprising 196 stream sediment and 196 panned concentrate samples. With reference to Figures 1 and 2, the anomalous assays define 3 areas centred on the Fiery Squid, Tin Cup, and Lion’s Paw prospects. In total, 35 samples returned assay gold grades above 0.2 g/t, including assays of 30.6 g/t and 6.7 g/t collected downstream from the Tentacles and Fiery Squid prospects. Drilling is planned to commence immediately at Tentacles and Fiery Squid.
CEO Jason Bahnsen, commented “The sampling results highlight the excellent gold potential at the Secret Pass Project. Assay results are strongly anomalous, with individual panned concentrate samples with gold grades of up to 30.6 g/t. We are preparing the drill access roads at Fiery Squid and the Tentacles prospects with the drilling contractor currently mobilizing equipment to the project site.”
As illustrated on Figures 1 and 2, the sample assays define three anomalous areas which exhibit a good correlation between stream sediment and panned concentrate assays. Anomaly A displays a close association with the Frisco Mine Fault and can be traced along a northwest trend for approximately 2,000 meters. The area is underlain by strongly altered andesite volcanics and includes the Tin Cup and FM gold prospects. Anomaly B is located downstream from an area of intense sericite-quartz-FeOx alteration and is associated with a rhyolitic dyke swarm intruding andesite volcanics. The anomalous area measures 700 x 800 meters and includes The Fiery Squid and Tentacles prospects. Anomaly C covers an area of extensive shafts and adits and includes Lion’s Paw, Travertine Gulch, Fluorspar Ridge, and Second Shaft prospects. The underlying geology and alteration is similar to the Fiery Squid and Tentacles prospects and comprises an area of 600 x 700 meters.
All samples were collected by Mr. Paul Q. Warren (CPG, QP), who maintained the chain of custody until delivery of the samples to ALS Laboratory in Tuscon, Arizona (“ALS”) and MS Analytical Laboratories in Vancouver, Canada (“MSA”). ALS and MSA are accredited to the ISO 9001 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria.
Quality Control and Quality Assurance (QA/QC) measures for this sampling program were internally implemented by MS Laboratories and included blanks, duplicates, and OREAS standards 24b, 601.
The 196 pan concentrate samples were prepared by pulverizing 250-gram samples to 85% passing <75 um. The 196 stream sediment samples sieved 200 um. Analysis for gold, platinum, and palladium was completed using a 30-gram fire assay fusion with ICP-ES finish (FAS 111) with a lower limit of 2 parts per billion for gold and an upper limit of 10,000 ppb. Samples with gold assays greater than 10,000 ppb are reanalyzed using a 50-gram fire assay fusion with a gravimetric finish. All samples also were analyzed using a 36-multi elemental geochemical package (AQ300). Sample splits of 0.5 g were leached in hot Aqua Regia and analyzed by ICP-ES with analytical results reported in ppm and ppb levels.
The scientific and technical data contained in this news release was reviewed and approved by Gary Artmont (Fellow Member AUSIMM #312718), Head of Geology and qualified person to Northern Lights Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County, Nevada, where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership.
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
Figure 1 -Secret Pass Pan Concentrate Samples Results
View Larger Image Here
Figure 2 -Secret Pass Stream Sediment Sample Results
View Larger Image Here
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms and conditions of the proposed private placement; use of funds, the business, and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties; delay or failure to receive board, shareholder, or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
SOURCE: Northern Lights Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/639051/Northern-Lights-Assays-306-gt-Gold-Surface-Sample-at-Secret-Pass-Gold-Project-in-Arizona
- Published in Mining, News Home, Northern Lights Resources
Granada Gold Announces Appointment of New CFO
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce that Mr. Ryan Webster has been appointed as Chief Financial Officer of the Company effective today, replacing the Company’s interim CFO, Mr. Robert Guanzon.
Mr. Webster brings over 15 years’ experience as a finance professional in the mining industry. Formerly Mr. Webster served as a consultant providing corporate finance services to a variety of clients, including contract CFO services to Blue Thunder Mining Inc. During his time at Blue Thunder he led the company through a qualifying transaction for public listing on the TSX Venture Exchange. Prior to his time as a consultant, Mr. Webster held the role of VP, Finance at Dominion Diamond Corporation (formerly Harry Winston Diamond Corporation and Aber Diamond Corporation) where he led and executed over CDN$2 billion in corporate M&A transactions including the purchase of BHP Billiton’s diamond business in 2013 for US$500 million and the sale of Dominion Diamond Corporation to the Washington Companies in 2017 for US$1.2 billion. He also helped raise over $1 billion in corporate credit facilities. Mr. Webster holds is a Chartered Professional Accountant (CMA) and Chartered Financial Analyst.
The Company thanks Mr. Guanzon for his contributions during the Company’s transition and wishes him well in his future endeavors.
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/April2021/01/c0215.html
Contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Canada Silver Announces Appointment of New CFO
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that Mr. Ryan Webster has been appointed as Chief Financial Officer of the Company effective today, replacing the Company’s interim CFO, Mr. Robert Guanzon.
Mr. Webster brings over 15 years’ experience as a finance professional in the mining industry. Formerly Mr. Webster served as a consultant providing corporate finance services to a variety of clients, including contract CFO services to Blue Thunder Mining Inc. During his time at Blue Thunder he led the company through a qualifying transaction for public listing on the TSX Venture Exchange. Prior to his time as a consultant, Mr. Webster held the role of VP, Finance at Dominion Diamond Corporation (formerly Harry Winston Diamond Corporation and Aber Diamond Corporation) where he led and executed over CDN$2 billion in corporate M&A transactions including the purchase of BHP Billiton’s diamond business in 2013 for US$500 million and the sale of Dominion Diamond Corporation to the Washington Companies in 2017 for US$1.2 billion. He also helped raise over $1 billion in corporate credit facilities. Mr. Webster holds is a Chartered Professional Accountant (CMA) and Chartered Financial Analyst.
The Company thanks Mr. Guanzon for his contributions during the Company’s transition and wishes him well in his future endeavors.
About Canada Silver Cobalt Works Inc. www.canadasilvercobaltworks.com
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters were identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters east of the 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
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2021/01/c7242.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Granada Gold Discovers High Value Rare Earth and Alkali Metals
Granada Gold Mine Inc. (TSXV:GGM) (the “Company” or “Granada”) is pleased to announce the significant discovery of Scandium (Sc), Rubidium (Rb), and Cesium (Cs) on the Big Claim of the Granada Gold Mine property, in Quebec, Canada.
Results are preliminary and full core lengths have not yet been assayed in two holes drilled at the north of the Big Claim. The company encountered unusual facies of altered rock which has been sampled in portions of the drill core. The mineralized portions of the core have been assayed for 56 metals. Additional assays are pending. Portions of drill holes GR-20-20 and GR-20-22 were sampled. Assays for GR-20-22 are still pending. Based on recent assays for intervals sampled, the intervening intervals are being sent for assay to create a complete picture.
Highlights of drill hole GR-20-20:
- – 13.5 ppm Cs, 101.8 ppm Rb, 21.0 ppm Sc over 12.0 meters from 351.0 meters to 363.0 meters- 3.5 ppm Cs, 69.1 ppm Rb, 13.8 ppm Sc over 98.0 meters from 451.0 meters to 549.0 meters- 1.1 ppm Cs, 42.1 ppm Rb, 12.2 ppm Sc over 15.0 meters from 573.0 meters to 588.0 meters
Core lengths represent approximately 40 percent true width.
The potential value of the rare earths and alkali metals per ppm in US dollars is as follows
- – Cesium (Cs) US Dollars 63 per ppm- Rubidium (Rb) US Dollars 16.08 per ppm
- – Scandium (Sc) US Dollars 186 per ppm- Gold (Au) US Dollars 56 per ppm- Silver (Ag) US Dollars 0.84 per ppm
Commodity price sources:
- – Institute of rare earths and strategic metals- USGS 2021 and 2020 reports- Alfa Aesar
The company is reassured by significant results coming from 2 independent laboratories where NQ core samples of hole GR-20-20 and GR-20-22 were analysed at ALS and NQ core samples of hole GR-20-22 were analysed at SGS.
The company will proceed with sampling of the entire hole to enable disclosure of mineralized lengths associated with grades as well as investigation on the mineralogy as the grades of interest are not confined to one geological unit.
Co-ordinates of these holes have been determined by handheld GPS and will be surveyed in spring.
GR-20-20: 645 968E, 5 339 544N, 292Z, Azimuth 183N, Dip -86 and length 588m
GR-20-22: 647 624E, 5 339 218N, 291Z, Azimuth 360N, Dip -65 and length 1,600m
QA/QC
The insertion of blanks and standards by the technical team in the program were aimed at gold. However, the laboratory QA/QC results for these anomalous elements at both laboratories are in line with their expected values thereby allowing the public disclosure of the values.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. m ember of Québec Order of Engineers and a qualified person in accordance with National Instrument 43- 101 standards.
Cesium
Cesium metal is used in the production of cesium compounds and potentially in photoelectric cells. Cesium-bromide is used in infrared detectors, optics, photoelectric cells, scintillation counters, and spectrophotometers. Cesium carbonate is used in the alkylation of organic compounds and in energy-conversion devices, such as fuel cells, magneto-hydrodynamic generators, and polymer solar cells. Cesium chloride is used in analytical chemistry applications as a reagent, in high-temperature solders, as an intermediate in cesium metal production, in isopycnic centrifugation, as a radioisotope in nuclear medicine, as an insect repellent in agricultural applications, and in specialty glasses. Cesium-hydroxide is used as an electrolyte in alkaline storage batteries. Cesium-iodide is used in fluoroscopy equipment—Fourier-transform infrared spectrometers—as the input phosphor of x-ray image intensifier tubes, and in scintillators. Cesium-nitrate is used as a colorant and oxidizer in the pyrotechnic industry, in petroleum cracking, in scintillation counters, and in x-ray phosphors. Cesium sulfates are soluble in water and are thought to be used primarily in water treatment, fuel cells, and to improve optical quality for scientific instruments.
Rubidium ( Alkali Metal)
Applications for rubidium and its compounds include biomedical research, electronics, specialty glass, and pyrotechnics. Specialty glasses are the leading market for rubidium; rubidium carbonate is used to reduce electrical conductivity, which improves stability and durability in fiber optic telecommunications networks. Biomedical applications include rubidium salts used in antishock agents and the treatment of epilepsy and thyroid disorder; rubidium-82, a radioactive isotope used as a blood-flow tracer in positron emission tomographic imaging; and rubidium chloride, used as an antidepressant. Rubidium atoms are used in academic research, including the development of quantum-mechanics-based computing devices, a future application with potential for relatively high consumption of rubidium. Quantum computing research uses ultracold rubidium atoms in a variety of applications. Quantum computers, which have the ability to perform more complex computational tasks than traditional computers by calculating in two quantum states simultaneously, were expected to be in prototype phase by 2025. Rubidium’s photoemissive properties make it useful for electrical-signal generators in motion-sensor devices, nightvision devices, photoelectric cells (solar panels), and photomultiplier tubes. Rubidium is used as an atomic resonance-frequency-reference oscillator for telecommunications network synchronization, playing a vital role in global positioning systems. Rubidium-rich feldspars are used in ceramic applications for spark plugs and electrical insulators because of their high dielectric constant. Rubidium hydroxide is used in fireworks to oxidize mixtures of other elements and produce violet hues. (source USGS)
Scandium (Rare Earth)
Is a strategic mineral in the province of Quebec as declared in the Critical & Strategic Mineral policy of the government of Québec to support the green development plan.
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 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
- 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
For further information, please contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or
Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Newlox Gold Starts Construction at Plant 2
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LUX . CN) ( Frankfurt/Stuttgart: NGO ) (OTC : NWLXF ) is pleased to announce that the Com pany has started construction at the fully permitted and fully funded Boston Project, its second environmentally and socially positive precious metals project .
Newlox has designed this mill with the capability of processing 150 tonnes per day of material, grading approximately 15 grams gold per tonne. At full scale, Boston is expected to be capable of recovering approximately 20,000 ounces of gold per year as well as a significant quantity of silver.
The construction timeline is projected at three months to be followed by commissioning, testing, and commercialization. Such an expedited construction and commissioning schedule at Plant 2 is the result of both the fully permitted status, and its proximity to the artisanal mining operations, in addition to Newlox Gold’s unique expansion strategy . The Boston operations team will provide advisory, engineering, and support to the local miners to ensure efficient gold and silver recovery using environmentally positive technology free of mercury.
Earthmoving and construction work is already underway at Project 2 and is progressing satisfactorily. Because of its location, adjacent to the Company’s first processing plant, this project benefits from significant shared infrastructure. Management looks forward to an expedited construction timeline and will regularly update shareholders.
Boston brings with it a wealth of historical exploration and mining data . Newlox’s operations team has worked closely with the Company’s local mining partners in both planning and development work in anticipation of the commencement of construction.
This partner mining approach creates a coexistence model for artis anal mining, seeking to uplift local miners by providing access to modern and efficient processing technologies. Partner mining will improve local economic conditions while, notably, removing the common legacy of mercury-based processing technologies, which result in negative human and environmental consequences.
Newlox previously announced securing a net revenue-sharing agreement with an established artisanal mining syndicate with which management has a multi-year association. Net revenues after all production costs will be split 50/50 between the miners and Newlox. The Company expects the Boston Project to significantly contribute to Newlox’s near-term growth. By targeting small-scale projects with low capital requirements and expedited development timelines, the Company plans to grow rapidly in Latin America to encompass multiple projects. Boston will be a model for the artisanal mining sector.
A Message from Ryan Jackson, President & CEO:
“Precious metals are an integral part of local heritage and traditions and continue to be mined today for both economic and cultural reasons. Now, for the first time since the ancient introduction of the mercury amalgamation process, artisanal gold and silver will be recovered without the use of mercury and its associated environmental damage. We are honoured to have been invited to partner with the local mining groups in the Juntas Gold Camp and are looking forward to strengthening our associations through this new cooperative venture.
Project 2, Boston, will significantly contribute to the local economy’s sustainable development while solving a decades-old environmental and social dilemma for all local stakeholders’ benefit. The project not only supplements production at Newlox’s first processing plant but also constitutes a decisive second step in Newlox’s plan to build a portfolio of environmentally positive gold projects throughout Central and South America.”
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