Newlox Gold Operations Base and Field Laboratory
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX ) (CNSX:LUX.CN) ( Frankfurt: NGO) is pleased to announce the opening of its new multi-purpose base camp, strategically located in the Juntas Mining District near its current gold processing operations and its new Boston Mine Project.
The new centrally-located base camp will support day-to-day operations as well as the construction of the recently announced Boston project.
The new basecamp includes an operations office, fully-fitted assay lab, personnel service facility, including accommodations for employees, a full kitchen and cafeteria, as well as a workshop with parts and tools storage. The new secure camp with covered and open-air storage allows for all-weather fabrication and repairs of mill components. The Newlox staff will be able to benefit from convenient support facilities, reduced travel times, and lessened exposure to Covid-19 risks.
The Company has also relocated its analytical laboratory to the new basecamp. This cutting-edge field laboratory is fully equipped for fire assay and atomic absorption spectroscopy (AAS) assay procedures. These techniques are the gold-standard for measuring precious metals in both rock and tailings. The Company can test both solid and liquid samples, and the in-house lab capability can ensure secure chain-of-custody for incoming samples and real-time results.
Fire assaying is an analytical technique which separates metals from impurities by fusion processes, which take place at of over 1,000 degrees Celsius, to determine the grade of the original sample. This process is widely regarded as the most reliable method to determine the metal content of ores that contain precious metals.
Fire assay capability at this in-house analytical laboratory allows for immediate analysis of both regionally sourced tailings feedstock and newly mined material from the Boston operations.
The lab also utilizes the faster atomic absorption spectroscopy (AAS) technology to test liquid samples and samples with additional elements of interest. AAS is a spectroanalytical procedure that measures the concentration of elements in a solution using the wavelengths of light specifically absorbed by each element when vaporized in a high-temperature environment. This sensitive technique can measure the concentration of elements down to parts per billion.
The combination of fire assay and AAS capability ensures Newlox operations access to the highest level of data for feedstock quality control, process control, and R&D purposes.
Newlox’s new base camp and expanded assay laboratory will support the planned growth of productivity at the historic Juntas Gold Camp.
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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
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
Phase 2 Diamond Drilling Underway at San Marco’s Buck Gold and Silver Property, Central British Columbia; Red Cloud Appointed to Provide Marketing Services
San Marco Resources Inc. (TSXV: SMN) (“San Marco” or the “Company”) is pleased to announce the commencement of diamond drilling at its 100% controlled Buck gold and silver property. The aggressive fully-funded drill program is expected to continue well into next year, with an initial 5,000 metres planned over the next few months. The current Phase 2 drill program compliments and builds on Phase 1 success and is designed to test the lateral and vertical extent of epithermal-related mineralization within the Buck structural corridor.
The Buck property is located about 12 km south of Houston, British Columbia, and is accessible via an all-weather access road. It has excellent nearby infrastructure, and allows for year round exploration. The 100% optioned property was recently expanded through the acquisition of additional ground, and now totals 22,000 hectares (see news release from August 10, 2020).
Bob Willis, San Marco’s CEO, commented, “We are very excited to begin our second phase of drilling at Buck. Our recent completion of an extensive field program has given us a much better understanding on the controls of Buck-style mineralization and gives us confidence that we’re on the right track for additional discoveries.”
A comprehensive geological data compilation and structural interpretation has resulted in the definition of a significant mineralized breccia complex. The breccia complex is comprised of intrusive breccias, magmatic-hydrothermal breccias, hydrothermal breccias, pebble-dikes and a thick, intermediate to felsic volcaniclastic pile. This breccia system is transected by a property-scale WNW-trending structural zone, named the Buck structural corridor, which is thought to be a first-order control on mineralization throughout the property. Phase 2 drilling will target both structurally controlled high-grade epithermal-related Au-Ag, as well as bulk-tonnage epithermal-related Au-Ag. More information about the recent field program is described in San Marco’s August 6, 2020 news release.
Results from the drill program will be released as they are received and compiled.
Health and Safety
The Company’s exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. San Marco has a rigorous infection prevention and control protocol in place to protect the health of employees, contractors, as well as surrounding communities in which we work.
Red Cloud
San Marco is also pleased to announce that it has retained Red Cloud Financial Services Inc. to provide an extensive array of corporate access services including marketing, media, and online. The agreement between Red Cloud and the Company is for a minimum of six months and the Company has agreed to pay Red Cloud $10,000 per month during the term. Such payments will be made from San Marco’s general working capital. After the initial six month period, the engagement may be terminated by either party with one month written notice.
About Red Cloud
Red Cloud Financial Services Inc. is a full service mining finance firm that provides a comprehensive suite of services focused on enhancing its client’s capital market brand and improving their access to capital.
The Red Cloud team has a mix of technical and financial expertise with over 300 cumulative years of combined mining and corporate finance experience. Working as an extension of management, the Red Cloud team uses its global network of mining and capital markets professionals and extensive in-house experience in the many facets of the mining business to help companies identify sources of capital and quality actionable merger, acquisition and divestiture opportunities, and to generate and maintain important relationships with key investors.
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 and Mexico.
The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property located in a mining-friendly region that includes many former and current operating mines. The Company’s portfolio also includes 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 at www.sanmarcocorp.com
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
Tel. 778-588-9606
- Published in Mining, News Home, San Marco Resources
Granada closes final tranche financing
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) announces that further to its press release dated August 27, 2020 whereby the Company raised $700,000 in its first tranche private placement closing, the Company has closed an additional $210,000 in its final tranche private placement financing. The Company has raised a total of $910,000 in both tranches.
The Company issued an additional 913,043 units (“Units”) at $0.23 per unit. Each Unit is comprised of one common share of the Company and 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 $0.28 per share, for a period of three years from closing, subject to TSX Venture Exchange (“Exchange”) final approval.
Proceeds of the private placement will be used for surface exploration, trenching, and historical resampling of drill core on the Company’s Granada Gold Property in Québec and general working capital.
Finder’s fees totaling $9,668.05 and 42,035 finder warrants were paid in connection with the financing. Each finder warrant is exercisable at $0.28 per share for three years from closing. The finder’s fees paid in connection with the private placement are subject to Exchange approval.
All securities issued in connection with the private placement are subject to a four-month and a day hold period, in accordance with applicable Securities Laws.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. is continuing to develop the Granada Gold Property near Rouyn-Noranda, Quebec. The property includes the former Granada gold mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s before a fire destroyed the surface buildings. 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 mineralized structure. The highly prolific Cadillac Trend, the source of 50 million plus ounces of gold production in the past century, cuts right through the north part of the Granada property on a line running from Val-d’Or to Rouyn-Noranda Quebec.
The Company is in possession of all 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, capable of producing up to 675,000 tonnes of ore over a 3-year period of time. Additional information is available at www.granadagoldmine.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
Chief Executive Officer and Chairman
- Published in Granada Gold Mine, Mining, News Home
Northern Lights Completes Settlement of $2.2 Million Private Placement
Northern Lights Resources Corp. (the “Company” or “Northern Lights”) (CNSX:NLR.CN) is pleased to announce that it has completed the settlement of the non-brokered private placement that was announced closed on August 19,2020 (the “Private Placement”).
The Company has issued 43,730,014 common shares (the “Shares”) and 45,874,014 warrants (the “Warrants”). The Shares are subject to a standard hold period until December 20, 2020. Each Warrant is exercisable into one common share of the Company at an exercise price of $0.075 until August 19, 2022.
Northern Lights has received total gross proceeds of $2,186,501 from the closing of the Private Placement. The proceeds will be utilized for exploration work on the Company’s Secret Pass gold project in Arizona and the Medicine Springs silver lead zinc project in Nevada and for general working capital purposes.
The Company has paid total finders fees of $121,200 and 2,144,000 broker warrants in relation to the closing of the Private Placement.
Northern Lights current total shares on issue are 108,270,688.
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 projects: The 100% owned, Secret Pass Gold Project located in 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
Canada Silver Cobalt Will Participate in a Proactive One2One Investor Forum on August 20, 2020
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that it will participate in a Proactive One2One Investor Forum on August 20, at 1 pm EDT (6 pmLondon time).
Canada Silver Cobalt’s presentation, which will focus mainly on its drilling and development plans for its exceptional high-grade silver discovery at Castle East, will be given by Matt Halliday, President and COO, and Frank Basa, CEO. The 30-minute presentation includes a question and answer session.
Investors are invited to join the online interactive webinar conference to find out more about the Company’s plans for the exploration and development of Castle East.
Registration to the webinar can be found at: https://event.webinarjam.com/register/632/ryy72sv8w
After registering, you will receive a confirmation email containing information about joining the webinar.
The corporate presentation for the webinar can be found at: https://canadasilvercobaltworks.com/wp-content/uploads/2016/11/Canada-Silver-Cobalt-Presentation-August-12-2020.pdf
For those unable to participate, Proactive Investors will post a video recording of the webinar on its website and YouTube after the event.
About Canada Silver Cobalt Works Inc.
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-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW 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/August2020/19/c5235.html
Contact:
Frank J. Basa, P.Eng., CEO, 1-416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Closes 1st Tranche Private Placement with a Lead Order from Palisades Goldcorp Ltd.
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that the Company has closed the first tranche of its non-brokered private placement financing, raising gross proceeds of $3,193,730 with a lead order from Palisades Goldcorp Ltd.
The Company has issued 5,806,782 units (“Units”) in the first tranche closing. Each Unit is comprised of one common share of the Company and 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 $0.65 per share, for a period of three years from closing, subject to TSX Venture Exchange (“Exchange”) final approval.
The proceeds of the private placement will be used for ongoing drilling of the Castle East Robinson Zone discovery, near the town of Gowganda, Ontario and for general working capital.
Finder’ fees in the amount of $90,247.50 and the issuance of 164,086 finder warrants were paid in connection with the 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 are subject to a four–month and a day hold period in accordance with applicable Canadian Securities Laws.
About Palisades GoldCorp.
Palisades Goldcorp is Canada’s new resource focused merchant bank. Palisades’ management team has a demonstrated track record of making money and is backed by many of the industry’s most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
About Canada Silver Cobalt Works Inc.
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-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
- Published in Canada Cobalt Works, Mining, News Home
Granada 55.56 g/t over 3 meters from 1220 kg surface grab sample. Adds second drill
Granada Gold Mine (TSX.V: GGM) (“Granada Gold” or the “Company”) is pleased to provide an update of its 2020 High-Grade exploration and bulk sampling program.
Highlights:
- Grab sample returns 55.6 grams per tonne native gold from 1220 kilograms of mineralized material taken from surface over a 3-meter strike length on Vein No 1 structure where diamond drill hole GR-19-A intersected 11.45 g/t gold from 0 to 33 metres core length (refer to January 9, 2020, news release).
- Sample was processed at Temiskaming Testing Labs in Cobalt, Ontario. Conventional gravity concentration was used and therefore only native gold was recovered and quantified. The gold-bearing sulfides were not recovered.
- Native gold component has been defined for the Granada Gold Mine to represent an average of 50% percent of the recoverable gold from the mineralized deposit (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1).
- Second drill rig focussing on the high-grade Vein No 1 structure. Stripping to the West to continue along strike. The mineralized structure has been traced on surface for over 115 meters on east-west trend by stripping. The structure extends over 500 meters when we connect the pierce points with the drill holes.
Frank J. Basa, P.Eng., Granada Gold’s President and CEO, comments: “Historically, the mill grades at Granada Mine were higher than drill grades. This is common with high-grade native gold concentration deposits on the Cadillac Trend – as it is with this deposit. The 1220-kg sample returned 4 times the drill grade of the core – using only the native gold component.”
Frank J. Basa, P.Eng., further comments: “A bulk sample is to be taken at this location to further quantify the grade of the mineralized material. The company is awaiting quotes from local contractors to take this bulk sample. The bulk sample is to be processed at Temiskaming Testing Labs, Cobalt, Ontario.”
Historical Recap:
- Historic underground production between 1930 and 1935, from 2 shafts had an average grade of 9.7 grams/tonne gold and 1.5 grams/tonne silver from 164,816 tonnes of mineralized material (51,476 ounces gold in 181,744 tons at 0.28 oz/ton) primarily from Vein No.2 underground *
- A 1994 surface bulk sample extracted 87,311 tonnes grading 5.17 g/t gold from Pit No.1 (on Vein No. 1) *
- A later, 1996 surface bulk sample extracted 22,095 tonnes grading 3.46 g/t gold from Vein No. 2.
- The Aukeko Shaft, 2300 metres east of the current bulk sample, and within the Auk Shear, saw an average of 7.00 ounces gold per Ton (240.0 grams per tonne) from 3 bulk samples taken just east of the Aukeko shaft in 1938 (from public files with MERN (Ministère d’Energie et Ressources Naturelles) GM52851). The Auk Shear zone was mapped over a one-kilometre length with an average width of 50 metres. The Aukeko gold mine is part of the east-west trending structure on the Granada Gold Mine property. It is two kilometres east from the extended LONG Bars zone where over 120,000 metres of drilling has been undertaken to date, including historical drilling from the 1990s. A further 1.9 kilometres east is the Austin-Rouyn Mine where grab samples in 1940 showed up to 6.57 ounces of gold per Ton (225.2 grams per tonne). Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
*The above disclosure of the bulk sample size and grade is extracted from the 43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. The Company has no reason to doubt its reliability.
Drill programs in 2019 focussed on testing the gold grade continuity and variability within mineralized structures.
GR-19-C intersected a high-grade zone with 7.67 g/t gold over 15 meters of core length from near surface at downhole depth of 18.5 to 33.5 metres on the extended LONG Bars zone (refer to Nov 6, 2019, news release). Assays are uncut except where indicated. True width is not known at present time.
Coarse, native gold was observed in the drill core of hole GR-19-E which intersected a high-grade zone with 12.32 g/t Au over 2 metres core length at a depth of 35.5 metres on the extended LONG Bars zone (refer to Oct 15, 2019, news release). The core length reported is estimated to have intersected 85-90% of true thickness of the zone. Assays are uncut except where indicated
It is important to note that the current NI 43-101 resource calculation by SGS does not include the above mineralized zone as it was recently uncovered by stripping for a water sump.
The current resource at the Company’s Granada Gold project in Rouyn-Noranda, Quebec is detailed in the report filed on Sedar, a technical report compliant with National Instrument 43-101 titled, “Granada Gold Project Mineral Resource Estimate Rouyn-Noranda, Quebec, Canada.” The report, written by Independent Qualified Persons Allan Armitage, PhD, P.Geo, and Maxime Dupere, BSc, P.Geo, of SGS Canada Inc., provides support for the following resource estimate:
Current Resources: 2019 Pit-Constrained Resource Estimate1 | |||
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 |
M&I Total | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
1 Cutoff 0.4 g/t Au; see Press Release of February 13, 2019 for detailed notes. |
Qualified Persons
For the purposes of this announcement, Claude Duplessis, P. Eng., of Goldminds Geoservices Inc., a geological, environmental and mining consultant and qualified person in accordance with National Instrument 43-101, has visited the Temiskaming Testing Labs, Cobalt, Ontario and has reviewed and approved the contents of this news release.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. is continuing to develop the Granada Gold Property near Rouyn-Noranda, Quebec. The property includes the former Granada gold mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s before a fire destroyed the surface buildings. 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 mineralized structure. The highly prolific Cadillac Trend, the source of 50 million plus ounces of gold production in the past century, cuts right through the north part of the Granada property on a line running from Val-d’Or to Rouyn-Noranda Quebec.
The Company is in possession of all 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, capable of producing up to 675,000 tonnes of ore over a 3-year period of time. Additional information is available at www.granadagoldmine.com.
“Frank J. Basa”
- Published in Granada Gold Mine, Mining, News Home