Vanstar develops a geological model based on the Nelligan gold deposit and embarks on the acquisition of multiple mining properties
In response to the findings of mining and exploration consultants InnovExplo, Vanstar (TSX-V. VSR) is pleased to announce the launch of a selection process to acquire a number of mining exploration projects in Quebec. The focus will be on areas deemed highly favorable, with similar characteristics to the notable Nelligan gold deposit located in the Chapais-Chibougamau region.
In 2019, the Nelligan gold deposit was the subject of an initial mineral resource estimate and a joint IAMGOLD – Vanstar NI 43-101 Technical Report documenting inferred resources totaling nearly 3.2 million ounces of gold for almost 100 million metric tons (see news release dated October 22, 2019). The current work on Nelligan aims to reclassify the resource as the specified category and to verify the depth extensions and extensions to the west of the deposit.
Following the NI 43-101 report, Vanstar commissioned InnovExplo to target favorable regions across the Abitibi geological subprovince for disseminated gold deposits hosted by metasedimentary rocks (Nelligan-type gold mineralization).
Nelligan gold mineralization is clearly distinct from most Abitibi tardi-orogenic gold deposits (i.e. distinct from conventional shear zones and quartz-carbonate veins). Nelligan is characterized by widespread and pervasive silica alteration and disseminated gold mineralization with a low pyrite content (1–5%) hosted in the metasedimentary rocks of the Archean Caopatina Formation. Nelligan’s geological context and mineralization style is unusual when compared with other Abitibi gold deposits, but has several similarities (and some differences) with the Canadian Malartic style or even with Carlin-type mineralized systems.
In order to select potential new sectors at a regional level, the approach used also drew on key features such as:
- geological characteristics specific to the Nelligan deposit;
- the presence of large sedimentary basins;
- local and regional structural elements;
- the spatial relationship with syntectonic intrusions;
- the metamorphic gradient;
- the metal association;
- the magnetic signatures.
Based on these specifications, Vanstar has map-staked an initial group of 35 cells over an area of approximately 1982 hectares—the Félix Project—and another block of 40 cells in an area of approximately 2264 hectares — the Amanda Project. The latter was purchased from three independent prospectors for a total of $60,000 and the issuance of 470,000 common shares. The sellers did not receive any royalties (NSR or otherwise). The company plans to use map staking to increase the number of cells for each of these projects.
The Félix Project
The Félix Project is based in the Chicobi Basin, northeast of the municipality of La Sarre, Abitibi. To date, very few boreholes have been made for this project. The majority of those that have been completed are in the northern part of the project to test iron formation. However, borehole 728-06-01 (GM 33270) intersected a sedimentary sequence in contact with the iron formation that contained several anomalous gold values.
The company plans to carry out a geological and geophysical survey here early next spring.
The Amanda Project
The Amanda Project is based in Jamésie and contains several gold showings. Historic data has made it possible to trace several gold showings for this project, including the Arianne, Ti-Beu, Rock’n Hammer, La Mire and Kog-1 showings. Some drilling conducted by Virginia Mines in the late 1990s also allowed for the cross-cutting of different gold structures containing significant gold values. This included the AC-97-31 drill hole, which revealed 2.42 g/t Au over 4 meters and 5.40 g/t Au over 7 meters with 12.1 g/t Au over 3 meters (GM 55430).
The geology of the Amanda sector can be summarized as a sedimentary stack located in the heart of a large fold, bordered by volcanic rocks. The sedimentary sequence consists of wackes, iron formations and local conglomerates. There are also shear zones, major flaws and folds in this environment.
The Amanda Project rocks have undergone two major stages of deformation. This project is also characterized by the presence of a large fold forming a complex structural pattern. The combined effect of these two folding stages is to multiply the different lithostratigraphic units.
A combined geological and geophysical mandate will be awarded to an external consultant in order to determine the various targets for next summer.
Several other proposed targets are currently under consideration. Some of these targets will be map staked over the next few weeks. The company’s management prioritizes sectors in regions with as few constraints as possible.
The company intends to join forces with potential partners seeking new ideas and/or create a subsidiary that could test this new conceptual approach.
Stéphane Faure, Senior Geologist and Qualified Person under Canadian National Instrument 43-101 has read and approved this news release.
The TSX Venture Exchange and its regulator (as defined in the TSX Venture Exchange policies) accept no responsibility for the adequacy or accuracy of its content.
Sources: | Sébastien Plouffe, VP – Investor Relations |
splouffe@vanstarmining.com 514-947-2272 | |
Gary Claytens, VP – Western Corporate Development 604-761-3233 | |
info@rvanstar.com | |
(www.vanstarmining.com) |
- Published in Mining, News Home, Vanstar Mining
San Marco Receives Subscriptions for $716,800 in Over-subscribed Non-brokered Private Placement
San Marco Resources Inc. (TSXV: SMN) announces that its non-brokered private placement to raise C$ 500,000 has been over-subscribed. It has received subscriptions totalling C$ 716,799.92.
The private placement now consists of 5,309,629 units at a price of $0.135 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share for three years at a price of $0.20. If, after four months following closing of the placement, the closing price of San Marco’s shares is at least $0.40 per share for 10 trading days, San Marco may accelerate the expiry of the warrants to 30 calendar days after the expiry of that 10 trading day period.
The Company will pay finders fees in cash of 7% and issue finders warrants (each exercisable to purchase one share for $0.135 for one year) of 7% to eligible finders in accordance with the policies of the TSX-V.
Proceeds of the private placement will be used for funding exploration of the Buck property and working capital.
Bob Willis, San Marco’s Executive Director states; “We are very pleased about the overwhelming support received for the initial funding for exploration at Buck. We have received our permit and drilling will begin shortly to test key targets discovered during historic data compilation and to allow potential expansion of the existing mineralized footprint.”
All the securities issued pursuant to this private placement will be subject to a four month restricted resale period. Completion of the placement is subject to the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.
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.
For further information, contact:
Robert Willis, P. Eng.Executive Director VP
Sharyn Alexander, M.Sc.
Technical Services
- Published in Mining, News Home, San Marco Resources
Colibri Selects Drillers for Maiden Drill Program at Evelyn Gold Project
Colibri Resource Corporation (TSXV: CBI) (“Colibri” or the “Company”) is pleased to announce that it has contracted Major Drilling for its maiden drilling program at its Evelyn Gold Project located 60 km NW of Caborca, Mexico.
The Evelyn Gold Project lies in the prolific “Caborca Gold Belt” which hosts many mines and deposits including La Herradura, Mexico’s largest gold mine which produced 474,168 ounces of gold in 2018 at an average grade of 0.80 g/t Au (25km west of Evelyn) and Noche Buena mine which produced 167,208 oz Au at an average grade of 0.52 g/t Au in 2018 (9km south west of Evelyn) (www.fresnilloplc.com).
The initial 5 hole diamond drilling program will focus on testing the high priority targets that were selected by Aurometallum Geology Consulting Services and Colibri geologists. Aurometallum completed a geological, geochemical, and structural mapping study at Evelyn in late 2019 and has identified two mineralized corridors of strong initial interest. These corridors have now been named “Cerro Rojo” and “El Sahuaro” (CBI press release December 3, 2019).
The first two planned holes will test the area encompassing the “Saddle Vein” in the Cerro Rojo where previously announced grab samples in the area of the two holes have assayed up to 43.9 g/t Au (CBI press release June 3, 2019). The Cerro Rojo mineralized corridor measures 1200 meters by up to 500 meters.
A third hole within the Cerro Rojo will test a fault zone where previously announced chip samples returned up to as 0.98 g/t and soil samples run up to 0.251 g/t Au (CBI press release December 3, 2019).
Drilling of two holes at the El Sahuaro will test areas of shearing. The El Sahuaro mineralized corridor area measures approximately 950 meters by 350 meters with chip sample assays up to 4.81 g/t Au and soil samples up to 0.40 g/t Au (CBI press release June 3, 2019).
Final drill permitting for this program is expected to be received shortly and an update will be released upon its receipt.
Qualified Person and NI 43-101 Disclosure
Jackie E. Stephens, P. Geo for Colibri, is the Qualified Person, (as defined in NI 43-101), who has reviewed and approved the technical information in this press release.
Figure 1
To view an enhanced version of Figure 1 please visit:
https://orders.newsfilecorp.com/files/4269/52100_28d5154a44863bd4_001full.jpg
About Colibri Resource Corporation:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico. The Company currently has five active exploration properties at various stages of exploration.
For more information about all of our projects please visit: www.colibriresource.com.
We seek safe harbour.
For further information: Ronald J. Goguen, President, Chairperson and Director, Tel:(506) 383-4274, rongoguen@colibriresource.com
- Published in Colibri Resource Corp, Mining, News Home
GOLD DEPOSITS: in search of the Motherlode
Gold is one of the most valuable, rare and sought-after elements on Earth. Finding it is certainly a very challenging task, yet, there are always clues that lead the careful expert to the mother lode. To simplify things, geologists have drawn lines to categorize the various types of gold deposits. This classification is based on many aspects of the deposit, from the processes that formed it, to the type of minerals it bears, and helps anticipate where such a deposit could be found. Globally, the richest regions in gold, are N. America, S. Africa and Australia.
Broadly, gold deposits are divided into Primary and Secondary deposits. Primary, or hard-rock deposits, are concentrations of gold, in various forms, occurring within the bedrock. They are further divided into categories according to the geological events (or model) that produced them. Secondary, or placer deposits, are created when bedrock deposits are eroded: their material is carried by water and redeposited.
Some of the major and most economically significant gold deposits can be summed up in these categories:
Genesis, Geology and Gold
Primary Deposits
Orogenic deposits are associated with the geological process of mountain formation and its accompanying metamorphic rocks, known as greenstones and meta-sediments. Gold is mainly found in dykes and veins, or lodes, the richest of which are the “motherlodes”. Also, typical to this is usually metallic gold more than 90% pure. Mining them often requires precision and multiple access paths to follow the vein and dyke structures. The beloved Scrooge McDuck made his fortune in the orogenic deposits of the Klondike district back in the early 20th century. Today it is estimated that this type accounts for 70% of the global production, with mines such as the Gold Fields’ (JSE: GFI, NYSE: GFI) Victory-Defiance in Australia, El Dorado Gold’s (TSE: ELD) Sigma-Lamaque in Quebec and the historic, retired, Goldcorp’s (TSX: G, NYSE: GG) Dome in Ontario, CA.Intrusion and Volcanic related deposits are formed by volcanic activity and magmas cooling in shallow depths. They are found beneath ceased volcanoes, in cracks called diatremes or close to shallow domes of solidified magma. Gold is spotted in veins and breccias, as metallic gold, more than 90% pure, or gold tellurides. These deposits may be huge in size, with more than 40 known deposits containing more than 50M oz of gold. This type features some extraordinary cases and is highly sought-after in exploration, with projects such as San Marco Resources’ (TSX-V: SMN) Buck Project in British Columbia announcing new drillings following positive survey results. These huge deposits are justified given the prosperity of mines like the Eastern Resources’ (OTC: ESRIE) flagship Montana Tunnels in the US and Newmont Corp.’s (NYSE: NEM) pride, the Yanachoca in Peru, which reported producing more than 270,000 oz in 2018.
Porphyry deposits are well known for Copper and Gold. Their genesis, like the previous, is associated with large volumes of magma cooling close to the surface (around 2-3 Km). Although most of them produce gold only as a biproduct, porphyries in total contain huge amounts of gold. This gold is usually dispersed over equally huge amounts of rock, but still, the sheer volume of gold in porphyries makes them significant sources of the yellow metal. This is better understood when looking at properties like Newcrest Mining Ltd. ‘s (ASX: NCM) Red Chris Mine in British Columbia, which the company claims to hold up to 20 million ounces of gold. Canada and Australia seem to have the advantage in this type with mines such as Saracen Minerals’ (ASX: SAR) Porphyry Gold Mine and Skeena Resources’ (CVE: SKE) GJ Property.
Secondary Deposits
Placers are formed by the erosion of older, hard-rock deposits. Gold is commonly found in grains or nuggets, dispersed within sediments in modern or old riverbanks. The metal is usually easy to spot and extract by hand and these locations are well known for decades or centuries, so these deposits are usually already exhausted and of little economic value to major mining companies and operations.
PLANNING FOR PROFIT?
Look at your model
When an exploration program is realized, one of its major goals in the early stages is to find the type of ‘possible deposit’. This is because the type provides the geological model of the ore, which intern plays a crucial role in its potential value and the plan that will be needed to mine it.
A high-sulfidation diatreme or a high-grade lode for example, will likely be much richer in terms of gr/tonne than a porphyry.
Apart from the ore quality, the final profitability of a project also depends on the mining and extraction methods that will be used. Those are also determined by the deposit type: a shallow deposit allows for open-pit mining while one that lies deep often requires underground tunnels. After it is mined, the ore will be processed to extract the gold: the optimal method to do so depends on the minerals that make up the deposit. Most minerals are dissolved (leaching) to extract the gold, while some need even more treatment. On the other hand, native gold can be crushed and separated from the host-rock by its own weight.
A project involving a satisfying ore quality and cost-efficient mining and extraction methods is the ideal setting for profit and viability. Hence, the deposit type is a key element taken into consideration when assessing potential gold mines. Of course, no deposit is identical to another, and the only way to find it is to dive right in and start looking for the motherlode.
References
Australian miner completes copper-gold porphyry mine acquisition. (n.d.). Retrieved from https://www.miningmetalnews.com/20190823/1265/australian-miner-completes-copper-gold-porphyry-mine-acquisition
El Dorado Gold Lamaque. (n.d.). Retrieved from http://www.eldoradogoldlamaque.com/English/lamaque-project/overview/
Kongolo, K., Mwema, M. D. (1998, December). The exctractive Mettalurgy of Gold. Hyperfine Interactions(111), pp. 281-289. doi:10.1023/A:101267830633
McKinsey & Co. (n.d.). Retrieved from https://www.mckinsey.com/industries/metals-and-mining/our-insights/
Montana Tunnels. (n.d.). Retrieved from https://easternresourcesinc.com/montana-tunnels/
Operations and Projects. (n.d.). Retrieved from https://www.newmont.com/operations-projects/
Robert, F. B. (2007). Models and Exploration Methods for Major Gold Deposit Types. 691-711. (B. Mikereit, Ed.) Proceedings of Exploration 07: Fifth Decennial International Conference on Mineral Explora.
The World Gold Council. (n.d.). Retrieved from https://www.gold.org/
Crystal Lake Mining Corporation Announces the Particulars of the “Due Bills” Trading with Respect to the Plan of Arrangement
Crystal Lake Mining Corporation (TSXV: CLM / OTC: SIOCF / FSE: SOG-FF) (“Crystal Lake” or the “Company“) further to its news release dated January 13, 2020is pleased to announce the particulars of the “Due Bills” trading with respect to the plan of arrangement (the “Arrangement“) among the Company, Sassy Resources Corporation (“Spinco”) and the shareholders of the Company.
The Payable Date, Record Date, Due Bill Trading Date, Ex-Distribution Date and Due Bill Redemption Date will be as set forth below.
Distribution per Share: | The number of Spinco shares that is equal to 10,000,000 (ten million) divided bythe total number of issued and outstanding Company shares as of the close ofbusiness on Record Date |
Payable Date: | February 18, 2020 |
Record Date: | February 10, 2020 |
Due Bill Trading Date: | February 7, 2020 |
Ex-Distribution Date: | February 19, 2020 |
Due Bill Redemption Date: | February 20, 2020 |
The final number of Spinco shares that will be distributed per one Company share pursuant to the Arrangement will be published in a subsequent news release following the close of business on February 10, 2020 (Record Date) and prior to February 19, 2020 (Ex-Distribution Date).
No fractional shares of Spinco will be distributed to shareholders and, as a result, all fractional amounts arising under the Arrangement will be rounded down to the nearest whole number without any compensation therefor.
DUE BILL TRADING:
The Company has declared a distribution, per one common share held in the Company, of the number of Spinco shares that is equal to 10,000,000 (ten million) divided by the total number of issued and outstanding Company shares as of the close of business on February 10, 2020, which is payable on February 18, 2020 to shareholders of record as of the close of business on February 10, 2020. The common shares of the Company will commence trading on a “due bill” basis effective from the opening on February 7, 2020 until February 18, 2020 inclusively. Sellers of the shares from February 7, 2020 to and including February 18, 2020 will not be entitled to the distribution. The shares will commence trading on an ex-distribution basis effective at the opening on February 19, 2020.
Additional information regarding the terms of the Arrangement are set out in Crystal Lake’s management information circular dated August 23, 2019, and the news releases dated June 25, 2019, July 26, 2019, October 1, 2019, October 4, 2019 and January 13, 2020, all of which are available for viewing on Crystal Lake’s SEDAR profile at www.sedar.com.
About Crystal Lake
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Maurizio Napoli”
President, Director
Email: info@crystallakemining.com
www.crystallakemining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
SOURCE Crystal Lake Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2020/28/c0800.html
- Published in Crystal Lake Mining, Mining, News Home
Junior Gold Forecast For 2020 On The Venture Exchange
Gold had a slow start in 2019 as prices remained below $1321, even hitting lows of $1266 in the first quarter of the year. However, as the year came to close, prices surged to 6-year highs in response to mounting U.S-China trade tensions. Geopolitical tension between the U.S and Iran also brought to light Gold’s safe-haven attributes, consequently fuelling further price gains.
A $200 price gain in 2019 might as well have revitalized growth prospects among junior gold companies. The price increase has helped revitalize growth prospects in the gold mining business, with the trend set to continue in 2020. Junior gold companies continue to record cash benefits emanating from the higher gold price. With the new cash comes the unending debate as to how the companies are likely to spend their new fortunes.
While some fund managers with stakes in some of the junior gold companies are increasingly pushing dividend payouts, some are pushing for internal investment. Leadership among the miners, on the other hand, are pushing for new gold supplies to ensure operational sustainability for the years to come.
New gold discoveries have declined significantly over the past decade. While the potential for new discoveries is still there, only companies with the technology as well as financial power stand a chance as gold deposits are now deeper, harder, and expensive to find.
Mergers and acquisitions are thus expected to take center stage in 2020 as some of the miners seek to expand their mining portfolios.
Mergers and Acquisitions
Some of the biggest gold miners are increasingly seeing their gold reserves get depleted. For that reason, most of them have resorted to mergers and acquisitions in a bid to replenish their reserves with already operational projects. Newmont, one of the biggest gold miners, is at risk of seeing its reserves run to zero over the next ten years.
Similarly, the company has merged with Goldcorp, resulting in a $10 billion Newmont Goldcorp company. The combined company wilds the much needed financial muscle and power to invest in expansion as well as exploration projects in a bid to enhance gold reserves.
Endeavour Mining is another company that has inked a $2.5 billion merger deal with Centamin as it looks to strengthen its prospects in the gold mining business. Zijin Mining is set to acquire Continental Golf for $1 billion as Equinox and Leagold push forward with the merger at market value.
Equity Increase
While gold prices appear to have stabilized above the $1500 mark, the equity of gold juniors is yet to tick higher. Major gold producers have seen their equity tick by an average of 24%. In contrast, juniors, as indexed by the Venture Exchange, are down by an average of 10%
The trend should change in 2020 on gold prices stabilizing at current highs. Increased merger and acquisition activity could be the trigger behind increased equity levels among juniors. Likewise, a decline in competition from other emerging industries such as the cannabis and crypto market should see junior gold companies elicit strong institutional investment.
New Entrants into the Canadian Market
Given the high gold prices, a number of new entrants are expected in the Canadian mining industry. The new entrants would mostly come from Australia and China, countries that are increasingly looking for raw materials as well as metals for their industries.
The trend is already gaining traction the likes of Newcrest, St Barbara, Evolution Mining, and Zijin having already made their presence felt as new entrants in the mining industry.
Discoveries Grades and Tonnage Could Decline
The likelihood of new gold projects coming online is minimal. Very few companies are willing to commit capital to new projects as current projects have lower grades and tonnages. The fear of high exploration and extraction costs would likely keep most junior gold companies at bay when it comes to pursuing new projects.
Gold Prices Outlook
While the U.S-China trade deal has brought some level of stability in the markets, thereby cooling tensions, volatility with regards to gold prices is likely to remain high. Brexit tensions and uncertainty, as well as Hong Kong protests, should continue to fuel demand for gold as a safe haven.
The disintegration of the Iran Nuclear deal and soaring tensions with the U.S is the latest geopolitical tension likely to continue fueling demand for gold. With gold prices expected to continue rising, junior gold stocks should continue rising as well, given the expected returns on mining operations.
https://banyanhill.com/2020-forecast-grab-double-digits/
CCW Outlines Large Target Horizon at Castle East Discovery with New Native Silver Hits
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that ongoing drilling from surface has greatly expanded the potential scale of the Castle East Robinson Zone high-grade silver discovery immediately adjacent to three robust past producers in Northern Ontario’s Gowganda Camp, 75 km southwest of Kirkland Lake.
Significantly, native silver has been observed in drill core at shallower levels near the contact of the Nipissing diabase with the Archean volcanics, as much as 100 meters above and northwest of wedge holes/first vein shoot CA-11-08-W01 through CA-11-08-W04, while drilling has also just intersected another native silver vein 95 meters below and northeast of the first vein shoot. This gives the discovery, at this early stage, a minimum potential 200-meter vein zone vertical extent. It remains open in all directions as drilling continues.
Halliday on “Textbook Signatures”
Matt Halliday, Canada Cobalt VP-Exploration, stated: “It is now apparent from surface drilling that the initial discovery falls within a much broader and productive horizon associated with a 300-meter thick sill. This drill core is displaying textbook signatures of a Gowganda-style high-grade silver system with extensive veining and alteration, native silver-filled fractures as well as multiple structures interpreted to be spatially related to high-grade mineralization. The native silver vein shoot clipped near the lower diabase-Archean contact may lead to new interpretations and geological models for the broader camp.
“The Robinson zone is on strike from the old Capitol mine workings 650 meters to the west, so there is plenty of room to grow this discovery both laterally and vertically which we are in the process of doing,” Halliday continued. “It’s important to note that mostly only the shallow western margin of the diabase was mined historically in the rich Gowganda Camp from networks of veins that extended for hundreds of meters. At modestly deeper levels Canada Cobalt’s Castle Property features kilometers of unexplored or under-explored diabase from the upper contact to the lower contact as we are discovering at Castle East.”
More Assays Pending
The first vein shoot at Castle East included very high silver grades, in addition to cobalt, nickel and copper, from the first two wedge holes with many more assays pending (refer to Dec. 23, 2019 and Jan. 10, 2020 news releases) from all four wedge holes as well as new holes from surface. Fresh images related to the discovery will be added to the Company’s web site over the coming days.
Castle East Discovery in Historical Context
Based on reliable historical reports and internal data, management believes Castle East may represent the most significant new grassroots high-grade silver discovery in the Gowganda Camp, and the broader Northern Ontario Silver-Cobalt District, in at least 40 years since Agnico Eagle put the Castle mine back into production in 1979 for a decade through a new vein discovery at what is currently Shaft #3 owned 100% by Canada Cobalt.
Regional Property Map
Please visit the Canada Cobalt web site at CanadaCobaltWorks.com for an updated location/geological map for the Castle Property, also included in this news release.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Merouane Rachidi, Ph.D., P.Geo., (PGO, APEGNB and OGQ) of GoldMinds Geoservices, a qualified person in accordance with National Instrument 43-101.
About Canada Cobalt Works Inc.
Canada Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario. The Company’s recent acquisition of the only facility in the Northern Ontario Silver-Cobalt District that combines bullion pouring, bulk sampling, commercial assaying and e-waste processing makes Canada Cobalt a vertically integrated leader in Canada’s Silver-Cobalt heartland as the precious metals bull market intensifies. This facility will also become the new home of Canada Cobalt’s 100%-owned Re-2OX Process, an environmentally friendly solution for producing technical grade cobalt sulphate (achieved in 2018) as well as nickel-manganese-cobalt (NMC) formulations.
“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 Canada Cobalt Works Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2020/27/c0823.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
- Published in Canada Cobalt Works, Mining, News Home
Sirona Biochem: 100% Safety in Final Tox Study for Increased Concentration of TFC-1067
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (US-OTC: SRBCF) (“Sirona“) announces that the final toxicology test, a Human Repeated Insult Patch Test (“HRIPT”), has successfully been completed. Sirona is now in preparation for the increased dose (0.4%) clinical study for its skin lightening compound TFC-1067.
The HRIPT study was coordinated by Eurofins Dermscan in Poland (www.eurofins.com) and was executed by Eurofins EVIC Product Testing Romania under the direction of a clinical dermatologist. During the study, the formulation containing 0.4% TFC-1067 was applied to 103 participants repeatedly, 9 times, to the same site over a period of three consecutive weeks to induce a possible allergy. After a minimal 2-week rest period, another single application of the product was applied, under patch, to the induction site and to a new site for a defined time in order to reveal a possible induced allergy.
The cream containing 0.4% TFC-1067 showed 100% safety in all subjects. No negative reactions were observed during the study period.
The written report of the study concluded the following: “Based on these results, the product has a very good skin compatibility and does not show a sensitizing effect.”
“Again, we’ve received excellent results with our skin lightening compound TFC-1067. This compound is very safe at our current dose and anticipated to be more effective for creating a brighter, more even skin tone,” said Dr. Howard Verrico, CEO of Sirona Biochem. “We are now working with Eurofins Dermscan to establish the protocol for the clinical study which we expect to start within the next few months.”
The clinical trial is anticipated to be a value-add for the compound. Current licenses and ongoing product development by partners for TFC-1067 will not be delayed by the studies.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona’s subsidiary lab, TFChem, specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments.
For more information, please visitwww.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
SOURCE Sirona Biochem Corp.
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Contact:
regarding this press release, please contact: Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com; Corporate Enquiries: Dr. Howard Verrico, CEO, Chairman of the Board, Sirona Biochem Corp., Phone: 1.604.641.4466, Email: info@sironabiochem.com
- Published in News Home, Sirona Biochem
SIRONA BIOCHEM ANNOUNCES GRANT OF STOCK OPTIONS
Sirona Biochem Corp. has granted an aggregate of 6.8 million incentive stock options to management, independent directors and consultants of the company. The options to purchase common shares in the capital of the company at a price of 45 cents per common share will be for periods ranging from one to 10 years. The options have been granted under the terms of the company’s stock option plan.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
We seek Safe Harbor.
- Published in News Home, Sirona Biochem
SILVER SPRUCE TO ISSUE SHARES TO COCULA VENDOR AND LAND OWNERS
Silver Spruce Resources Inc., further to its news release dated Nov. 29, 2019, announcing the termination of the Cocula project, is seeking the approval of the TSX Venture Exchange to an amendment dated Sept. 10, 2019, to the letter of agreement dated July 13, 2019, with ProDeMin SA de CV. Under the terms of the amendment, the company is required to issue 1.7 million common shares at a deemed price of five cents per share, in which 1.5 million common shares are to be issued to ProDeMin and 200,000 common shares are to be issued to the landowners of the Cocula project.
About Silver Spruce Resources Inc.
Silver Spruce is a well-positioned, Canadian junior exploration company pursuing the exploration and development of the Melchett Lake VMS project in Ontario, Canada, and the Pino de Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of western Chihuahua state, Mexico.
- Published in Gold, News Home, Silver Spruce Resources