Granada Closes 2nd and Final Tranche of Its Financing
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce that further to the Company’s news release dated May 8, 2020, the Company has now closed its second and final tranche of the of its non-brokered private placement financing raising additional proceeds of $382,000 by the issuance of 3,820,000 units at a price of $0.10 per unit. The Company has raised total of $1,200,000 in both tranches.
Each unit consists of one common share in the capital of the Company and one share purchase warrant. Each warrant entitles the holder to purchase one share of the Company for a period of two years from closing at an exercise price of $0.12 cents per share subject to final TSX Venture Exchange (“Exchange”) approval.
Finder’s fees were paid in connection with the private placement in the amount of $15,715 cash and 157,150 broker warrants on the same terms as the purchaser warrants. The finder’s fees are subject to Exchange approval.
All securities issued are subject to a four-month-and-a-day hold period expiring on September 13, 2020, in accordance with applicable securities laws.
The proceeds of the private placement will be used for surface exploration, trenching, and historical resampling of drill core on the Company’s Granada Gold Property in Québec and for general working capital purposes.
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.
Pit-Constrained Mineral Resources at Granada disclosed on February 13th, 2019 Press Release prepared by SGS independent QP stand at:
Category | Tonnes | Grade (g/t AU) | Contained Gold (oz.) |
Measured | 12,637,000 | 1.02 | 413,000 |
Indicated | 9,630,000 | 1.13 | 349,000 |
Measured & Indicated | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
+ Open pit mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell. Cut-off grades are based on a gold price of US$1,300 per ounce, a foreign exchange rate of US$0.76, and a gold recovery of 95%.
The Granada Shear Zone and the South Shear Zone contains, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and half kilometers. Three of these structures were mined historically from two shafts and two open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 5 to 3.5 grams per tonne gold.
The Company is in possession of all mining permits that are 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/May2020/13/c8193.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
San Marco Intercepts Shallow Gold at Buck Property
San Marco Resources Inc. (TSXV: SMN) (“San Marco”) is pleased to announce it has intersected wide zones of continuous gold mineralization from its recently completed Phase 1 drill program at its 100% optioned gold/silver/zinc Buck property in north-central B.C.
Highlights of the Phase 1 drill program include:
- 91 metres of 0.80 g/t AuEq (gold equivalent, gold and silver only) within 156 metres of 0.63 g/t AuEq, including 33 metres of 1.01 g/t AuEq.
- 81 metres of 0.78 g/t AuEq within 200.7 metres of 0.51 g/t AuEq, including 44 metres of 1.01 g/t AuEq.
- 2.15 metres of 6.3 g/t Au and 10.0 g/t Ag, including 0.3 metres of 20.7 g/t Au and 48.9 g/t Ag (within 4 metres of the bottom of BK20-002).
- Mineralization is hosted in highly clay altered, faulted and fractured, brecciated volcanic tuffs, as wide disseminated zones and high-grade veins.[*]
- Very consistent gold and silver grades intersected at shallow depths, some of which are projected to surface.
San Marco’s Executive Director, Bob Willis, states “We are very encouraged to see significant intervals of continuous gold mineralization at Buck, which confirms our preliminary findings that this is a large, near-surface gold/silver exploration opportunity. We intend to aggressively ramp up exploration efforts, with our ‘boots on the ground’ exploration team arriving on site in about three weeks. Our drill program gave us the first opportunity to see fresh core we could log and tie to gold mineralization, and to help target the best host rocks, alteration, and structural setting for gold deposition. We will use this new information to target drilling for Phase 2 and to prioritize numerous attractive, but previously poorly understood, target areas at Buck.”
The 1,806 metre drill program was centered in an area of historically explored mineralization and consisted of a total of five holes, where three holes were drilled in an area of known mineralization near surface. An additional two short holes were collared 350 metres to the northwest in an attempt to locate a previously postulated mineralized fault zone. Drill hole locations for the Phase 1 drill program can be seen in Figure 1 and were previously announced on April 8, 2020.
The primary objective of the Phase 1 campaign was to get fresh drill core to identify styles of mineralization and detailed analysis of subtle mineralizing controls that could then be applied project-wide. This has been successful, and these observations will be a key component in the design of the Phase 2 drill program.
Significant shallow drill intersections of gold and silver has shown the robust nature of mineralization, with most of the gold mineralization hosted as disseminations in the host rock, and as high-grade veins, commonly associated with sphalerite and pyrite (see Photo 1). Most of the mineralized system has been classified as felsic lapilli tuffs (volcanic rocks), with various degrees of brecciation. Rocks that are highly faulted and clay-altered have the most elevated gold values. Schematic cross sections can be seen in Figure 2 and Figure 3.
Near-Term Focus
San Marco’s plans for the next phase of exploration include:
- Continue to compile and analyse drill results and review drill core with assays in hand
- Mobilize a field crew to the property in about three weeks
- Commence exploration activities to include detailed mapping and sampling, and prospecting new areas radiating out from current drill location
- Re-interpret historical geophysical data to be used to assist in new drill target generation
- Complete initial 3-D geological model after all drill core interpretation and field work is complete
- Generate Phase 2 drill program
Significant intercepts for the Phase 1 drill program at Buck can be found below.
Hole | From (m) | To (m) | Width* (m) | AuEq (g/t) ** | Au (g/t) | Ag (g/t) | Zn (pct) |
BK20-001 | 29.35 | 30.35 | 1 | 1.93 | 1.87 | 6.1 | 0.5% |
and | 60.00 | 62.00 | 2 | 1.09 | 1.06 | 2.7 | 0.1% |
and | 76.50 | 80.00 | 3.5 | 0.54 | 0.53 | 1.0 | 0.1% |
and | 102.30 | 303.00 | 200.7 | 0.51 | 0.48 | 3.7 | 0.2% |
including | 120.00 | 136.00 | 16 | 0.56 | 0.52 | 4.0 | 0.2% |
and including | 123.00 | 127.45 | 4.45 | 0.73 | 0.68 | 4.9 | 0.1% |
and including | 124.35 | 125.00 | 0.65 | 1.84 | 1.77 | 7.6 | 0.2% |
including | 153.80 | 281.00 | 127.2 | 0.62 | 0.58 | 4.1 | 0.2% |
and including | 157.45 | 238.00 | 81 | 0.78 | 0.73 | 4.9 | 0.2% |
and including | 192.00 | 236.00 | 44 | 1.01 | 0.96 | 5.1 | 0.2% |
and including | 192.00 | 202.00 | 10 | 1.07 | 1.00 | 7.6 | 0.2% |
and including | 210.00 | 212.00 | 2 | 1.18 | 1.13 | 5.1 | 0.2% |
and including | 224.00 | 234.00 | 10 | 1.69 | 1.65 | 4.8 | 0.4% |
and including | 224.00 | 228.88 | 4.88 | 2.62 | 2.54 | 8.3 | 0.6% |
and | 343.75 | 345.00 | 1.25 | 0.64 | 0.61 | 2.7 | 0.1% |
BK20-002 | 50.25 | 56.00 | 5.75 | 0.48 | 0.47 | 1.8 | 0.1% |
including | 50.25 | 50.60 | 0.35 | 2.08 | 1.93 | 16.1 | 1.0% |
and | 90.20 | 90.50 | 0.3 | 2.43 | 2.19 | 25.2 | 1.0% |
and | 101.00 | 257.10 | 156.1 | 0.63 | 0.59 | 4.3 | 0.5% |
including | 111.00 | 202.00 | 91 | 0.80 | 0.75 | 5.6 | 0.5% |
and including | 111.00 | 113.00 | 2 | 4.19 | 4.08 | 11.2 | 1.2% |
and including | 132.00 | 142.00 | 10 | 1.01 | 0.95 | 6.3 | 0.2% |
and including | 146.00 | 147.50 | 1.5 | 1.56 | 1.50 | 6.2 | 0.5% |
and including | 152.10 | 153.60 | 1.5 | 1.66 | 1.62 | 4.5 | 1.2% |
and including | 169.00 | 202.00 | 33 | 1.01 | 0.94 | 7.4 | 0.7% |
and including | 169.00 | 175.20 | 6.2 | 1.05 | 0.98 | 6.7 | 1.1% |
and including | 169.00 | 171.00 | 2 | 1.55 | 1.49 | 6.3 | 1.0% |
and including | 173.00 | 175.20 | 2.2 | 1.08 | 1.00 | 8.6 | 1.7% |
and including | 181.00 | 202.00 | 21 | 1.09 | 1.02 | 8.0 | 0.7% |
including | 245.20 | 257.10 | 11.9 | 0.88 | 0.84 | 3.9 | 0.9% |
and including | 248.40 | 252.00 | 3.6 | 2.04 | 1.99 | 5.5 | 1.4% |
and | 325.00 | 329.00 | 4 | 1.39 | 1.29 | 11.1 | 0.4% |
and | 335.90 | 337.00 | 1.1 | 5.69 | 5.55 | 14.9 | 0.0% |
and | 414.50 | 415.00 | 0.5 | 6.21 | 5.75 | 49.3 | 0.2% |
and | 424.65 | 426.80 | 2.15 | 6.40 | 6.30 | 10.0 | 0.0% |
including | 426.50 | 426.80 | 0.3 | 21.16 | 20.70 | 48.9 | 0.0% |
BK20-003 | 84.40 | 85.00 | 0.6 | 1.62 | 1.48 | 14.9 | 2.0% |
and | 134.35 | 135.60 | 1.25 | 1.70 | 1.56 | 14.6 | 1.5% |
including | 134.35 | 134.65 | 0.3 | 5.75 | 5.37 | 40.4 | 3.6% |
BK20-004 | 101.50 | 103.00 | 1.5 | 0.54 | 0.52 | 2.9 | 0.1% |
including | 101.50 | 101.80 | 0.3 | 1.47 | 1.42 | 5.0 | 0.2% |
and | 186.00 | 188.00 | 2 | 0.72 | 0.70 | 1.6 | 0.1% |
and | 211.10 | 221.20 | 10.1 | 0.49 | 0.42 | 7.1 | 0.5% |
including | 211.10 | 212.25 | 1.15 | 1.41 | 1.28 | 14.2 | 1.4% |
including | 220.85 | 221.20 | 0.35 | 2.74 | 2.61 | 14.0 | 2.7% |
and | 272.00 | 274.00 | 2 | 3.10 | 3.06 | 4.5 | 0.3% |
BK20-005 | 165.80 | 188.80 | 23 | 0.63 | 0.32 | 33.2 | 0.4% |
including | 165.80 | 172.10 | 6.3 | 1.08 | 0.46 | 65.4 | 0.5% |
including | 188.50 | 188.80 | 0.3 | 1.30 | 0.64 | 70.4 | 1.0% |
and | 208.20 | 208.50 | 0.3 | 1.10 | 1.01 | 9.6 | 2.3% |
and | 214.00 | 304.50 | 90.5 | 0.35 | 0.30 | 5.1 | 0.4% |
including | 226.00 | 230.00 | 4 | 0.78 | 0.66 | 13.6 | 0.2% |
including | 252.00 | 304.50 | 52.5 | 0.39 | 0.33 | 6.1 | 0.5% |
and including | 262.00 | 281.00 | 19 | 0.51 | 0.41 | 10.9 | 0.6% |
and including | 302.50 | 304.50 | 2 | 0.66 | 0.64 | 1.9 | 0.0% |
and | 324.00 | 326.00 | 2 | 0.61 | 0.58 | 3.2 | 0.3% |
and | 348.00 | 350.00 | 2 | 0.61 | 0.54 | 7.4 | 0.1% |
and | 418.00 | 420.00 | 2 | 1.09 | 1.00 | 9.1 | 0.1% |
- * Widths are drill core length. Insufficient drilling has been undertaken to determine true widths at this time.
- Average grades are weighted by width and calculated with uncapped gold assays.
- Average widths are calculated using a 0.2 g/t gold equivalent cut-off grade with less than five continuous metres of internal dilution below cut-off grade.
- ** Gold equivalent (AuEq) values were calculated using a gold price of US$ 1,600 per ounce and a silver price of US$ 15 per ounce. Gold equivalent values were calculated using the following formula: AuEq = (Au g/t) + (Ag g/t) x (15/1600).
- Gold equivalent assumes 100% recoveries.
Quality Assurance
All sample assay results have been monitored through a quality assurance / quality control (QA/QC) program. Industry best practices were used for defining a QA/QC program where 5% of the sampling stream was controlled by industry recognized certified reference material (CRM’s) and blanks. When necessary, additional QA/QC in the form of 5% of pulp and coarse reject duplicates were selected for laboratory verification. The drill core was logged in detail by geologists utilizing a logging approach designed by senior technical managers. Logging and sampling was completed at a secure facility in Smithers, B.C. by Coast Mountain Geological Ltd. (CMG). Drill core was sawn in half on site and half drill-core samples were securely transported to the ALS Global prep facility in Terrace, B.C. The samples were dried, crushed to 70% (< 2 mm), split to 250g, and pulverised to 85% (<75 µm). Sample pulps were sent to the ALS Global lab in North Vancouver, B.C., for analysis. Gold analysis was by 30g Fire Assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5 g/t. Some samples underwent ore grade analysis using the Four Acid method. In addition, pulps underwent Multi-Element Analysis by ICP-AES. ALS Global is registered to ISO/IEC 17025:2017 accreditations for laboratory procedures.
Links to Figures
Figure 1:
http://sanmarcocorp.com/wp-content/uploads/2020/05/Buck_Drilling_Imagery_May2020_NR_sxns.jpg
Photo 1:
http://sanmarcocorp.com/wp-content/uploads/2020/05/Buck_CorePhotos.pdf
About San Marco
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.
The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available on the Company’s website at www.sanmarcocorp.com
On behalf of the Board of Directors:
Robert Willis, P.Eng.
Executive Director
For further information, contact:
Nancy Curry
Corporate Communications
Sharyn Alexander, M.Sc.
VP Technical Services
National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information.
Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
[*] Widths are drill core length
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55698
- Published in Mining, News Home, San Marco Resources
Granada Closes 1st Tranche Financing
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce that the Company has closed the first tranche of its non-brokered private placement financing raising gross proceeds of $818,000.
A total of 8,180,000 units were issued at $0.10 per unit. Each unit consists of one common share in the capital of the Company and one share purchase warrant. Each warrant entitles the holder to purchase one share of the Company for a period of two years from closing at an exercise price of $0.12 cents per share.
Certain directors and officers (the “Insiders”) participated in the first tranche closing and purchased an aggregate of 825,000 units for aggregate gross proceeds of $82,500. Participation by Insiders of the Company in the private placement is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insiders’ participation in the financing in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the private placement by the Insiders did not exceed 25% of the fair market value of the Company’s market capitalization.
All securities issued are subject to a four-month-and-a-day hold period expiring on September 9, 2020, in accordance with applicable securities laws. The private placement is subject to final Exchange approval.
The proceeds of the private placement will be used for surface exploration, trenching, and historical resampling of drill core on the Company’s Granada Gold Property in Québec and for general working capital purposes.
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.
Pit-Constrained Mineral Resources at Granada disclosed on February 13th, 2019 Press Release prepared by SGS independent QP stand at:
Category | Tonnes | Grade (g/t AU) | Contained Gold (oz.) |
Measured | 12,637,000 | 1.02 | 413,000 |
Indicated | 9,630,000 | 1.13 | 349,000 |
Measured & Indicated | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
+ Open pit mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell. Cut-off grades are based on a gold price of US$1,300 per ounce, a foreign exchange rate of US$0.76, and a gold recovery of 95%.
The Granada Shear Zone and the South Shear Zone contains, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and half kilometers. Three of these structures were mined historically from two shafts and two open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 5 to 3.5 grams per tonne gold
The Company is in possession of all mining permits that are 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/May2020/08/c4651.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
Auramex Resource Corp Georgie River Gold-Silver Project Key to Long Term Value
MONTREAL, QUEBEC – MomentumPR ‘s client Auramex Resource Corp. , is listed on the TSX Venture exchange under the symbol: AUX . (TSXV:AUX)
Momentum PR is pleased to have produced an informative and comprehensive report on Auramex Resources Corp o ration, available here – Auramex Resource Corp. Momentum Report .
Auramex Resource Corp. Highlights
- Auramex’ flagship project includes the historic Georgia River Mine, a high-grade gold mine 100% owned by Auramex.
- The high-grade deposit at the Mine, outlined by drilling and past production, confirms the presence of gold in this extremely large hydrothermal system.
- Drilling from 1978 to 2003 was primarily aimed at the area around the past production. Drilling encountered highly encouraging gold values along 400 metres of strike length and throughout the 100 metres of vertical extent probed by the drilling.
- Dr. Metcalfe (who is now Auramex Director and VP Exploration) confirmed the presence of Early Jurassic magmatic intrusions near the mine. Intrusions of that age are closely associated with many large gold deposits in the Golden Triangle.
- Information compiled by Auramex provides compelling evidence of a large gold-bearing geological system.
- Fieldwork by Auramex confirmed the presence of alteration, mineralization and strongly anomalous gold values in other areas of the property as well.
- Other projects for Auramex include American Creek, Bear Pass, Lower Bear and Tide North Project. Auramex has rigorously assembled properties previously explored piecemeal by various operators over the past century.
Auramex Resource Corp (TSXV:AUX) is a Canadian gold junior that creates shareholder value by applying its extensive geological expertise in the quest for large-scale gold discoveries. Advanced scientific work now underway is refining targets for a drill program intended to probe beneath the past-producing high-grade gold mine in the hunt for a multi-million oz. deposit. Georgia River Mine, the Auremex flagship project, is situated in an area known for million-ounce gold deposits; the Golden Triangle. Geological advances and infrastructure developments are turning the under-explored region into what investment analysts describe as the “centre of a new Canadian gold rush”. Georgia Mine, discovered in 1910, faced the challenges of difficult access at that time, as well as limits to the processing technology and was abandoned in 1939. The property laid dormant until the late 1970s. Drilling from 1978 to 2003 was primarily aimed at the area around the past production. Most of the work was conducted by juniors with the intent of re-starting the old mine. The minimal work conducted outside of the mine area found encouraging signs of a larger system, but there was no follow-up until the property was acquired by Auramex.
The geophysics outlined a large VTEM anomaly, interpreted as a conductive zone oriented along a southwest-dipping fault. Gold values in excess of a gram per tonne have been identified over an area in excess of a square kilometer largely co-incident with the geophysical anomaly.
The information compiled by Auramex provides compelling evidence of a large gold-bearing geological system of which the old mine is one small part. The work now underway is aimed at identifying concentrations of gold within that system outside of the known gold-bearing zone at surface.
Considering all 5 of Auramex’s projects, the primary focus now is to advance geological understanding. Auramex’ primary goal is to fund exploration at Georgia River and to seek joint venture funding for its other projects. The larger mining companies are interested in the Golden Triangle and looking for access to large blocks with well-defined geological targets.
Momentum PR is pleased to have produced an informative and comprehensive report on Rio Silver Inc., available here – Auramex Resource Corp. Momentum Report
If you would like more information on Auramex Resource please visit; www.auramex.com/
Momentum PR
+1.450.332.6939 | info@momentumpr.com | https://momentumpr.com/
Investor Inquiries
Josh Falle, Senior Client Manager | josh@momentumpr.com
Media Relations
Isabelle Arsenault, Media Relations | isabelle@momentumpr.com
About Momentum PR
Momentum PR is a cutting-edge public and investor relations consulting agency, representing companies within the Canadian investment community. Since 2009, Momentum PR has been servicing small and mid-cap Canadian-listed public companies, seeking to increase their exposure across North America. The focus at Momentum PR is on building and driving brand awareness. Momentum PR cultivates new audiences in the media and investment communities by proactively engaging interested parties on behalf of client companies, through online and offline channels.
Disclaimer: “All editorial content contained herein is solely the responsibility of Momentum PR and does not reflect, in any way, the opinions of TheNewswire.ca Inc., its partner newswires and / or associated news services.”
San Marco Completes Phase 1 Drilling at Buck Property, Central BC
2020-04-08 07:30 ET – News Release
Vancouver, British Columbia–(Newsfile Corp. – April 8, 2020) – San Marco Resources Inc. (TSXV: SMN) (“San Marco”) is pleased to announce that the previously announced Phase I diamond drilling program (March 17, 2020) has been completed at its 100% optioned gold/silver/zinc Buck property in north-central B.C.
The 1,806 metre drill program was centered in an area of historic mineralization and consisted of a total of five holes, with three collared in the Horseshoe Zone and two approximately 300 metres to the northwest in the Adit Zone (see Figure 1).
Highlights of the Phase I drill program include:
- All five holes intersected mineralization from surface.
- Three of the five holes intersected mineralization to depths in excess of 400 metres, which is approximately 150 metres below historic drilling depths.
- Mineralization is hosted in highly altered and fractured volcanic breccias as disseminations, veins/veinlets, and mineralized fractures.
- Initial logging suggests a large, highly altered gold/silver/zinc volcanic breccia system, open in all directions.
Drill hole locations are set out below in Table 1.
Hole ID | Easting | Northing | Azimuth | Dip | Length (m) |
BK20-001 | 654649 | 6019613 | 45o | -55o | 467 |
BK20-002 | 654625 | 6019637 | 30o | -55o | 431 |
BK20-003 | 654596 | 6019937 | 225o | -45o | 164 |
BK20-004 | 654593 | 6019934 | 180o | -65o | 296 |
BK20-005 | 654824 | 6019867 | 215o | -50o | 448 |
Total Length (m) | 1806 |
Table 1. Phase I Drill Hole Locations at the Buck Property
The drill core samples are being processed by ALS Chemex in North Vancouver and results will be announced when available.
San Marco’s Executive Director, Bob Willis, commented “We are very excited to have completed our initial drill program at Buck. We look forward to analyzing the results and receiving assays, which will help guide planning of Phase II exploration. I thank the entire team for diligently completing this drill program ahead of schedule and on budget. During this time of COVID-19 awareness, I especially thank the front-line team of Coast Mountain Geological and JT Thomas Drilling, who operated under strict COVID-19 protocols and completed the program in a safe and healthy manner.”
Industry best practices were used for defining a QA/QC program where 5% of the sampling stream was controlled by industry recognized certified reference material (CRM’s) and blanks. When necessary, an additional 5% of QA/QC in the form of pulp and coarse reject duplicates were selected for laboratory verification. The drill core was mapped and logged in detail by geologists utilizing a logging approach designed by senior technical managers.
About San Marco
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.
The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
info@sanmarcocorp.com
www.sanmarcocorp.com
National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.
Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54236
- Published in Gold, Mining, News Home, San Marco Resources
Northern Lights Completes Registration of Secret Pass Gold Project Mineral Claims
Northern Lights Resources Corp.(CSE:NLR) is pleased to announce that the Company has completed the change of registration for the mineral claims acquired under the Secret Pass Gold Project (“Secret Pass”) acquisition announced on July 15, 2019.
Northern Lights was notified by the State of Arizona Department of Land that as of February 12, 2020, the 84 mineral claims (comprising 868 hectares) associated with Secret Pass are 100% owned and registered in the name of Northern Lights’ wholly owned, Arizona registered, subsidiary company Secret Gold Pass LLC.
This step completes the acquisition of the Secret Pass Gold Project and enables Northern Lights to begin exploration field work at the project. The Company plans to commence the exploration field program with the drone based photogrammetry and aero magnetic surveys. The operator of the drone survey systems has confirmed their ability to complete the work utilizing US based teams as soon as the current COVID-19 situation allows.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Or
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth oriented exploration and development company that is advancing two key projects: The 100% owned / zero royalty, Secret Pass Gold Project located in Mohave County, Arizona; and the Medicine Springs silver-zinc-lead property located in Elko County, Nevada where Northern Lights is earning 100%.
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.
- Published in Mining, News Home, Northern Lights Resources
VANSTAR ANNOUNCES A TEMPORARY STOP OF THE DRILLING WORK PROGRAM ON NELLIGAN
According to the new directives issued by the Ministere de la Sante et des Services Sociaux (MSSS) of Quebec province, Vanstar Mining Resources Inc.’s partner, Iamgold Corp., has temporarily stopped the diamond drilling work in progress on the Nelligan project, located in the Chapais-Chibougamau region, in northern Quebec.
The work should resume as soon as the situation related to the COVID-19 will be in better control and safer for the workers.
Approximately 5,000 metres were completed before the work stopped. As laboratories are also affected by this mandatory shutdown, the results should take longer than usual.
The company continues to evaluate other gold projects it plans to add to its portfolio, however. It should be noted that current events can also bring certain opportunities for acquiring gold projects at a lower cost.
“This unfortunate and terrible situation can bring its share of unhappiness without warning. It is therefore strongly recommended that everyone avoid as much contact as possible which could spread this virus. We are very sorry for these circumstances and hope that everything will be back to normal as soon as possible,” mentioned the company’s chief executive officer, Guy Morissette.
This press release was read and approved by Gilles Laverdiere, consulting geologist and qualified person according to the National Instrument 43-101 Canadian standard. Manage Your Subscription
- Published in Gold, Mining, News Home, Vanstar Mining
CRYSTAL LAKE MINING APPOINTS NEW DIRECTOR AND CORPORATE SECRETARY
Crystal Lake Mining Corp.(TSXV:CLM) has appointed David Watkins to the board of directors for the company and Natasha Chapman as corporate secretary.
“On behalf of the Crystal Lake Team, I would like to welcome David to the Board of Directors. David has dedicated over 45 years to his career within our industry, having been a part of over a dozen projects from discovery to economic production in a wide range of commodities and deposit types located throughout the world. There are few individuals in the mining industry with the experience and success that David has. His strong technical background, management expertise, and proven business track record will be an asset in our development of the Company’s flagship Newmont Lake Project in the heart of Northwestern British Columbia’s famed Golden Triangle.” commented Cole Evans, Crystal Lake’s CEO.
Furthermore, the Company is announcing the resignation of Mr. Alphonse Ruggiero from Crystal Lake Mining’s Board of Directors effective March 21st, 2020. The Company would like to thank Mr. Ruggiero for his tenure with the Company and success in his future endeavors.
David Watkins Appointed a Director of the Board
Mr. Watkins is an international mining executive and trained geologist with over 45 years of experience building and managing mining companies. His work throughout the world has resulted in the discovery, development and operation of 15 successful precious and base metal mines throughout North and South America, Australia, and Africa.
Mr. Watkins started his career with Newmont Mining and Noranda as an Exploration Geologist working in Canada, Australia, Mexico, and Ecuador. He became Chief Geologist for mining and exploration at Falconbridge Copper in 1977. By 1986, he was Vice President Exploration of Falconbridge Copper, and later President of Minnova Inc., the successor company to Falconbridge Copper until it’s acquisition by Inmet Mining in 1993. During his tenure Mr. Watkins and his team discovered and built a number of mines that resulted in five operating divisions producing gold, silver, copper, and zinc.From 1993 to 1999, Mr. Watkins served as the Senior Vice President, Exploration for Cyprus Amax Minerals until it’s $1.8 billion purchase by Phelps Dodge, a company later acquired by Freeport-McMoRan to form the world’s largest publicly traded copper company. During Mr. Watkins tenure the company produced copper, gold, molybdenum, lithium, and coal.
From 2000 to 2011, Mr. Watkins served as Chairman and CEO of Atna Resources, a company engaged in exploration, development, and production of gold projects in the Americas. He continued as Chairman from 2011 to 2016.
Mr. Watkins currently serves as Director of Euro Ressources S.A. | Gold Royalties (95% owned IAMGOLD France S.A.S.), Golden Minerals Co., and Commander Resources.
Mr. Watkins graduated with a M.Sc. in Geology from Carleton University in 1970, a B.A. in Geology from Queen’s University in 1967, and is a graduate of the Executive Business Program at the University of Western Ontario. Mr. Watkins is a member of the Canadian Institute of Mining and Metallurgy, Geological Association of Canada, Geological Society of Nevada, and Prospectors and Developers Association of Canada.
This appointment is subject to a TSX Venture Exchange approval.
Natasha Chapman Appointed Corporate Secretary
Ms. Chapman holds a B.A. from Carleton University in Ottawa in 2007 as well as a Project Management Certification from Universite St. Paul in Ottawa. Previously, Natasha held a position within the Policy division of a Crown Corporation in the Nunavut Territory, which provided her an unparalleled experience at the Board level to Corporate Governance.
Natasha replaced Kristine Frost who resigned from the Company effective February 4th, 2020.
About Crystal Lake Mining
Crystal Lake Mining is a junior Canadian mining exploration company focused on exploration and development of it’s 551 km2 Newmont Lake Property in the Golden Triangle of northwest British Columbia, Canada. The Company has an option to earn a 100% interest in the Newmont Lake Project, which is one of the largest land packages in the broader Eskay Creek region of Northwest British Columbia’s Golden Triangle.
We seek Safe Harbor.
- Published in Crystal Lake Mining, Gold, Mining, News Home
Northern Lights Resources (CSE:NLR) Growth Metrics Edge Higher After Secret Pass Gold Project Purchase
MONTREAL, QUEBEC – MomentumPR‘s client Northern Lights Resources Corporation, is listed on the CSE exchange under the symbol: NLR(CSE:NLR).
Momentum PR is pleased to have produced an informative and comprehensive report on Northern Lights Resources, available here – Northern Lights Resources Corporation Investor Report.
Northern Lights Resources Corporation Highlights
- Northern Lights Resources has two prospective mining projects that continue to affirm long-term growth prospects; Secret Pass Gold Project in Arizona and Medicine Springs Silver/Lead/Zinc project in Nevada.
- Secret Pass Gold Project is a former gold producing property, 100% owned by NLR with no royalties payable from future production.
- The prospective gold project stands out in part because it features two major fault systems with numerous gold deposits showing. – NLR is progressing with an exploration plan that includes an aeromagnetic survey and an updated NI43-101 project report for the historic Tin Cup open-pit resource area. Tin Cup offers near-term production opportunities and the potential to host high-grade, shallow underground and open pit gold targets.
- Medicine Spring Project is targeting a large scale, high-grade, silver-lead-zinc carbonate replacement sulphide deposit.
- 123 shallow holes were completed to an average depth of only 43 meters. Notable intersections from the historical drilling includes 18% zinc and 36 g/t Ag over 5m and 7% Zn, 4% Pb, and 114 g/t Ag over 8m. – Exploration results defined a strong NE trending lead-zinc-silver soil anomaly that extends >2000 metres in length and 350-500 meters in width that is planned for drilling in 2020.
Northern Lights Resources Corp. (CSE:NLR) is a growth-oriented company committed to increased shareholder value through exploration and development of high-quality resource projects.
Secret Pass located in Mojave County, Arizona just 15 km north of the historic Oatman gold mining district is a region that produced 2 million ounces of gold 1892-1940. The project area’s excellent advantages include power, water, a skilled labor pool, plus epithermal gold mineralization, hosted by steeply dipping regional fault systems. Past exploration drilling completed in 1984-1991 intersected significant high-grade gold mineralization in the Tin Cup Gold Zone, with gold assays ranging as high as 40g/t.
The Medicine Springs property located in Elko County, Nevada is a previous producer with an extensive drilling prospective for high-grade oxide and sulphide silver, zinc and lead mineralization. Northern Lights is earning 100% equity interest in the project.
Backed by an experienced management team, Northern Lights Resources is on its way to becoming a highly valued exploration company in terms of value generation supported by two highly prospective mining projects.
Momentum PR is pleased to have produced an informative and comprehensive report on Northern Lights Resources, available here – Northern Lights Resources Investor Report
If you would like more information on Northern Lights Resource; https://www.northernlightsresources.com/
Momentum PR
+1.450.332.6939 | info@momentumpr.com | https://momentumpr.com/
Investor Inquiries
Mark Turcotte, Senior Client Manager | mark@momentumpr.com
Media Relations
Isabelle Arsenault, Media Relations | isabelle@momentumpr.com
About Momentum PR
Momentum PR is a cutting-edge public and investor relations consulting agency, representing companies within the Canadian investment community. Since 2009, Momentum PR has been servicing small and mid-cap Canadian-listed public companies, seeking to increase their exposure across North America. The focus at Momentum PR is on building and driving brand awareness. Momentum PR cultivates new audiences in the media and investment communities by proactively engaging interested parties on behalf of client companies, through online and offline channels.
- Published in Gold, Mining, News Home, Northern Lights Resources
Colibri Resource’s Evelyn Gold Project is Gathering Major Attention as Significant New Discovery Potential
MomentumPR‘s client Colibri Resource Corporation, is listed on the TSX Venture exchange under the symbol: CBI(TSXV:CBI) (OTC:CRUCF).
Momentum PR is pleased to have produced an informative and comprehensive report on Colibri Resource Corporation, available here – Momentum Report – Colibri Resource.
Colibri Resource Corporation Highlights
- The company currently has five promising exploration properties at various stages of exploration in the Sonora Gold Belt. The Evelyn Project is the Colibri flagship exploration project located in northern Sonora.
- The state’s mineral-rich area is home to miners such as Fresnillo – Mexico’s largest gold producer and the world’s leading silver producer.
- The El Mezquite 180-hectare site has the potential to host low grade/large tonnage deposits with high sulphidation mineralization. Of 321 rock chip samples, 42 showed high values of >0.10 g/t Au and up to 3.41 g/t Au & 198 g/t Ag.
- Pitaya is located on the Caborca Orogenic Belt in northwest Sonora, an area known for its gold-rich quartz veins. Exploration just two kilometres east at Fresnillo’s Tajitos Project has identified a minimum of 400K Oz.
- Colibri has received the required drilling permits and recently contracted Major Drilling for its maiden drilling program at its Evelyn gold project located 60 kilometres northwest of Caborca, Mexico. The drilling may commence as early as next week.
Colibri Resource Corp. (CBI:TSXV) is a Canadian junior formed explicitly “to acquire and explore historical mining districts in Mexico.” Colibri’s five Sonora properties are located in or near a free-trade zone, which facilitates cross-border movement and general business. The properties enjoy ease of access, well-developed infrastructure, an available pool of skilled labour and a large degree of common logistics, owing to the sites’ relative proximity to each other.
The Evelyn Project considered a significant new discovery opportunity, enjoys open pit potential and contains free gold in oxide ore type, with orogenic mineralization. Buoyed by the gold project’s prospects, the Canadian mining company recently engaged the services of Major Drilling for its eminent drilling program.
The mapping study and drilling program comes by virtue of a localized chip sampling survey in which the samples returned as high as 4.81g/t AU and 4.19 g/t Au in an area with high levels of iron oxide staining. A sampling of the main zone returned 43.1 g/t Au, in sample values, early last ear.
Colibri optioning its Pillar and selling its Pitaya gold properties should help minimize stock dilution while also help accelerate their development. The sale of non-core properties should also allow the company to get the much-needed financing to advance their other highly prospective gold projects while, for now, wisely financing Evelyn and El Mezquite Gold Projects and upholding shareholder value.
The Evelyn project is set to be one of the key drivers propelling the company’s underlying value in part because it is one of the last claims of land not held by a major producer in the area and financing is being generated internally rather than through stock dilution. In fact, Mexico’s largest gold mining company dominates the area by holding upwards of 300,000 hectares of claims around the Evelyn property. Steady news is expected from the Company for the foreseeable future as advancements are made and milestones achieved.
Momentum PR is pleased to have produced an informative and comprehensive report on Colibri Resource Corporation, available here – Momentum Report – Colibri Resource
If you would like more information on Colibri Resource; www.colibriresource.com
Momentum PR
+1.450.332.6939 | info@momentumpr.com | https://momentumpr.com/
Investor Inquiries
Mark Turcotte, Senior Client Manager | mark@momentumpr.com
Media Relations
Isabelle Arsenault, Media Relations | isabelle@momentumpr.com
About Momentum PR
Momentum PRis a cutting-edge public and investor relations consulting agency, representing companies within the Canadian investment community. Since 2009, Momentum PR has been servicing small and mid-cap Canadian-listed public companies, seeking to increase their exposure across North America. The focus at Momentum PR is on building and driving brand awareness. Momentum PR cultivates new audiences in the media and investment communities by proactively engaging interested parties on behalf of client companies, through online and offline channels.
Disclaimer:”All editorial content contained herein is solely the responsibility of Momentum PR and does not reflect, in any way, the opinions of TheNewswire.ca Inc., its partner newswires and / or associated news services.”
Copyright (c) 2020 TheNewswire – All rights reserved.
- Published in Colibri Resource Corp, Gold, Mining, News Home