Pilar Gold Project – Colibri Option Partner Tocvan Ventures Announces High Grade Mineralization at Two New Showings
Colibri Resource Corporation (“Colibri” or the “Company”) is pleased to announce that it has received the rock chip sample results from Tocvan Ventures Inc. (“Tocvan”) which were taken by Tocvan’s geologists during a due diligence visit the Pilar gold project in November 2019. Colibri has subsequently entered into an option agreement with Tocvan regarding Pilar since that time (See news release dated: November 26, 2019). A total of 35 samples were sent for assay, four of which were QA-QC samples. Significant results were found in 22 samples.
Sample # | Au g/t | Ag g/t | Cu % | Pb % |
PILAR-MTS-02 | 0.9 | 14.3 | 0.261 | 0.003 |
PILAR-MTS-03 | 1.3 | 5.4 | 0.338 | 0.002 |
PILAR-MTS-05 | 0.8 | 12.7 | 0.129 | 0.002 |
PILAR-MTS-06 | 3.2 | 8.3 | 0.350 | 0.001 |
PILAR-MTS-09 | 0.2 | 2.2 | 1.255 | 0.005 |
PILAR-MTS-10 | 0.9 | 17.2 | 0.734 | 0.010 |
PILAR-MTS-11 | 3.8 | 57.4 | 0.846 | 0.005 |
PILAR-MTS-12 | 0.0 | 5.6 | 1.910 | 0.001 |
PILAR-MTS-13 | 0.0 | 12.9 | 0.946 | 0.001 |
PILAR-MTS-14 | 0.1 | 3.3 | 1.400 | 0.001 |
PILAR-MTS-19 | 0.8 | 1.7 | 0.013 | 0.008 |
PILAR-MTS-20 | 5.6 | 84.2 | 0.088 | 1.710 |
PILAR-MTS-21 | 0.7 | 20.3 | 0.027 | 0.185 |
PILAR-MTS-22 | 9.3 | 76.4 | 0.120 | 2.150 |
PILAR-MTS-25 | 0.5 | 323.0 | 0.016 | 0.242 |
PILAR-MTS-26 | 1.4 | 2.4 | 0.002 | 0.013 |
PILAR-MTS-27 | 2.2 | 14.7 | 0.012 | 0.259 |
PILAR-MTS-29 | 4.3 | 172.0 | 0.086 | 1.125 |
PILAR-MTS-30 | 23.7 | 116.0 | 0.089 | 0.040 |
PILAR-MTS-33 | 4.4 | 44.5 | 0.109 | 0.036 |
PILAR-MTS-34 | 7.5 | 41.9 | 0.044 | 0.022 |
PILAR-MTS-35 | 2.2 | 3.5 | 0.179 | 0.008 |
The samples taken illustrate high grade gold (Au) and silver (Ag) assay results at two new areas that could significantly extend the known mineralization on the Pilar property. Among the assay results are values up to 9.3 g/t Au and 76.4 g/t Ag at the south-east part of the property, and up to 323 g/t Ag and 0.5 g/t Au midway along the eastern portion of the property. Samples taken in these areas follow up a prominent gold and silver anomaly identified in a soil sample survey in 2018.
In addition, Tocvan conducted a check of the location of the S-10 drill intercept from the mid 1990’s which returned 53.47 g/t Au and 53.4 g/t Ag over 16.5m. The drill intercept location was estimated and then projected to surface where a dark red hematite sheared outcrop was located, uncovered and sampled. Among the assays returned was a sample of 3.8 g/t Au and 57.4 g/t Ag showing mineralizing fluid flow in the structures.
A full map illustrating the samples taken in November 2018 at Pilar can be viewed in Tocvan’s news release dated January 7th, 2020.
The technical information in this news release has been prepared by Mark T. Smethurst, P.Geo., COO and Director of Tocvan Ventures Inc, and a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
SOURCE Colibri Resource Corporation
View original content: http://www.newswire.ca/en/releases/archive/January2020/07/c2397.html
Contact:
Ronald J. Goguen, President, Chairperson and Director, Tel:(506) 383-4274, rongoguen@colibriresource.com
- Published in Colibri Resource Corp, Mining, News Home
How to Invest in Gold Stocks
If you’re looking for investments that are highly lucrative, investing in gold stocks is a good option. Unlike other markets that are subject to the rise and falls of the stock market, gold has remained historically favorable. From November 2007 – June 2009, the S&P 500 index saw a significant decrease, dropping by 36%. On the contrary, the price of gold actually rose by 25%.This is because gold is a safe-haven investment, and during times of economic downturn, investors seek out opportunities to invest in it. There are several options for individuals to get involved in gold stocks. The optimal investment choice depends on the needs and goals of the investor. However, if the investor does their research and invests properly, gold stocks can be astronomically profitable.
Types of Stocks
There are two ways of investing in gold stocks – through direct and indirect exposure. As the name suggests, direct exposure gives the investor direct ownership of gold. Indirect exposure, on the other hand, allows the investor to invest in the various agencies involved in the gold industry.
Gold ETFs – Direct Ownership
Gold exchange traded funds (ETF) purchase gold on behalf of their shareholders. This allows investors to directly own gold while also providing a liquidable asset, since gold ETFs are traded on the stock exchange, unlike physical bars of gold. However, like physical gold, gold ETFs are usually a safe investment.
Gold Mining Stocks – An “Active” Investment
Many investors choose to invest in gold mining stocks instead. This is because gold mining companies are able to grow exponentially in size and could potentially be even more lucrative than other forms of gold investment. Consider this, an ounce of gold will always be an ounce of gold. True, the price of gold may change through inflation and changing market conditions, but this increase is unlikely to experience a drastic change in a short period of time.
Gold mining stocks, on the other hand, may see an investment double or triple overnight. Gold mining stocks, more so than any other gold stock, require a great deal of “active” investing. What this means is that the investor has to actively stay on top of the developments of their investment. Gold mining can be one of the most results-driven markets around, and the worth of a particular investment may depend on how many resources are found. It is important for investors to do their research and look for companies that fit their needs. Different companies offer different benefits. Of particular note are small-cap gold mining companies, which are less established companies with the highest ceilings for growth.
The other benefit to gold mining stocks are that they have the potential to become profitable through other finds. Even if a mine does not find gold, it may discover a wealth of other precious resources. This will have a similar effect in significantly increasing the value of shares.
Gold Mining Mutual Funds and ETFs – Portfolio Diversification
Stocks in gold mining mutual funds and ETFs are another way for investors to indirectly invest in gold. These options are ideal for investors who want to have a diverse portfolio and through a one-time investment. In addition, since these mutual funds and ETFs are involved with multiple companies, there is a lesser need for investors to be as active.
Many ETFs and Mutual Funds that track gold mining companies may also track other precious metals. This may be a deterrent for those who wish to solely invest in gold, but it may prove to be profitable and help minimize loss through increased diversification.
Streaming and Royalty Companies – An Excellent All Around Option
Investors can also purchase shares in gold streaming and royalty companies. These companies pay mining companies a fee upfront for the right to purchase gold and other precious metals from their mines in the future.
These types of companies benefit shareholders since they provide widely diverse portfolios and mitigate some of the risk from directly investing in mining companies, since they are impacted less by unsuccessful mining operations. They also provide wide margins that are more stable when the price of gold begins to drop. Finally, their value also increases with gold prices, since these companies make their revenue through selling the gold they purchased from mines.
However, most royalty and streaming companies do not work with only gold. These types of companies will often have other added resources that they deal in. Some common exposures include silver, oil and gas. Thus, it is important for investors to know the target audience and markets of the company they choose to invest in.
There are many options to get involved in gold stocks, and they can all be highly profitable. Investors should pick the option that is most suitable for them. No matter which option you pick, gold and gold mining stocks are a lucrative addition to any portfolio.
A snapshot Into Global CBD Insights Trends and Market Size
The global Cannabidiol (CBD) market is projected to grow at a compound annual growth rate of 125% from 2019 to 2026. The robust growth stems from growing awareness of CBD health benefits as well as the opening up of the market around the world. An increase in the number of countries that have legalized the use of CBD for its health claims has helped foster further growth, making CBD a buzzing market phenomenon.
CBD Insights
CBD is a compound extracted from hemp and marijuana for its medicinal and therapeutic properties. The compound has emerged as a remedy for addressing various medical conditions such as inflammation, pain as well as sleep disorders. CBD infused products such as cannabis oil, beauty and skincare products, gummies, and dog treats have since cropped up as manufactures continue to explore ways of leveraging CBD properties. In recent years, there has been a spike in demand for cannabidiol in pharmaceutical formulations, by virtue of the compound’s comforting properties. Likewise, hemp production has continued to edge higher as growers and producers look to take advantage of the growing market appeal. Strong demand for CBD skincare products made up of moisturizers creams, cleaners, oils and sun creams continued to trigger strong demand for CBD. The use of CBD in beauty products has gathered momentum in recent years owing to the compound’s anti-inflammatory and antioxidant properties.
Distribution Channels
Considering the fact that cannabidiol is still a controlled substance in many jurisdictions around the world, wholesalers and retailers must have a license from relevant authorities to distribute it. In countries where CBD is legal for medicinal purposes, hospitals and pharmacies have a leeway to prescribe CBD products without too many restrictions. Likewise, hospitals and pharmacies account for the biggest share when it comes to CBD distribution around the world. Retail Pharmacies come a distant second specializing mainly in offering CBD infused personal care products, food items, and medicines. Online stores such as Pure CBD Vapors, CBD Outlet Online, and Discover CBD offer multiple CBD-infused branded products and edibles as well as wax forms. CBD Regional Insights The U.S and Canada continue to lead the way, given the size of their CBD market. North America stands out in part because of friendly regulatory frameworks. A number of states in the U.S have already legalized the recreational and medicinal use of cannabis; Canada having legalized cannabis at the federal level. The Americas accounted for 78% of the global CBD market in 2018 at $2.4 billion, with Europe coming a distant second with a market value of $358 million. The beverage segment of the CBD market remains the biggest accounting for 51% of the total market valued at about $1.6 billion. This segment is projected to soar 127% by 2026.
While cannabis has remained a banned substance in most countries, some country’s attitudes are slowly changing. Asia for instance, presents an enormous untapped market opportunity. The country is considered an attractive region for laboratory proficiency owning to the territories’ large base of manufacturers as well as research laboratories.
Growing CBD Investments
Sensing a window of opportunity, a number of companies have jumped on the CBD bandwagon, creating a vast assortment of products around Cannabidiol and its byproducts. Veritas Farms, Inc. (OTCQB: VFRM), a vertically integrated agribusiness, has invested vast sums of money on the production of a full-spectrum of CBD products. The company has recently unveiled a line of natural hemp oil products that contain CBD and intend to continue to add to their assortment in the near future. Dubbed as the leader in hemp extraction products, Charlotte’s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) has expanded its research initiative with The Center for Discovery in New York as it seeks to develop hemp genetics. The company’s breeding program is spearheading the development of superior CBD varieties to support the efforts of local farmers. Medical cannabis firm EXMceuticals Inc. (CNSX: EXM) is another company that has set sights on the CBD landscape focusing on North America as well as Europe. The company has already secured a cannabis research and development license from the Portuguese National Authority of Medicines and Health products to lead the way in European CBD circulation and, ultimately, worldwide distribution.
Bottom line
Increased hemp production fueling the rising demand for cannabidiol rich hemp biomass should continue to bolster CBD market growth. Likewise, increased adoption of refined CBD products coupled with the legalization of medical marijuana should drive demand for CBD products worldwide. Furthermore, companies are beginning to adopt new strategies and plunging into strategic mergers and acquisitions to strengthen their CBD production capacities. As progressive CBD companies move to expand their presence in the industry, the global CBD market size should continue to clock new heights globally.
Ruchi Gupta is financial journalist, specializing in small-cap companies mainly in the cannabis space. Disclosure: Ruchi Gupta works for Momentum PR, which represents EXMceuticals on the public relations front.
Canada Cobalt Works Announces Assays Show Massive Silver Grades Topping CA-11-08 as Discovery Builds at Castle East
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that partial assays from a visually strongly mineralized 4.65-meter core interval in the first wedge hole at the Robinson Zone Discovery at Castle East (refer to Dec. 12, 2019 news release) include 50,583.29 g/t silver (1,476oz/ton) from a 0.60-meter sample in addition to cobalt, nickel and copper, and 20,741 g/t silver (605 oz/ton) over 1.5 meters.
Assays are still pending for 19 out of 22 samples from the first wedge hole as well as 89 samples from the other three wedge holes. The drill program, applying technology that was never previously used at the Castle Property, is now being carried out with deep holes from surface designed to extend this vein shoot and intersect multiple shoots in what increasingly appears to be a geologically very fertile area 600 meters to 1,900 meters east of three robust past producers.
Highlights:
- Significantly, CS-19-08-W01 not only confirmed the grassroots discovery of a classic Northern Ontario Silver-Cobalt District-style vein shoot in this heavily under-explored part of the Nipissing diabase, but this first wedge hole has cut into an even richer and much wider part of the vein 10 meters above and west of the original discovery intercept (CA-11-08);
- CS-19-08-WO1 returned 50,583.29 g/t silver (1,476 oz/ton), 0.30% cobalt, 0.71% nickel and 0.21% copper over 0.60 meters, higher in silver grade (by 9,639 grams or 282 oz/ton) than the best intercept in CA-11-08 (refer to Dec. 4, 2019 news release). In addition, the vein within the 0.60-meter interval in CS-19-08-W01 has a true width (20 cm) three to four times greater than the apparent same vein in CA-11-08. This is highly encouraging in terms of the potential strength, richness and extent of this NW-SE-striking and SW dipping vein initially intersected in CA-11-08 at a vertical depth of approximately 430 meters;
- The second and third samples, outside the vein in CS-19-08-W01, returned 1,375 g/t Ag and 422 g/t over 0.40 meters and 0.50 meters, respectively, in silver-filled fractures, providing an average of 20,741g/t (605 oz/ton) over the first 1.5 meters of core length assayed. Numbers are pending for the remaining 3.1 meters of the 4.65-meter interval in addition to other parts of the hole;
- Grades and vein widths reflect what was mined historically in the Gowganda Camp.
Matt Halliday, Canada Cobalt’s newly-appointed VP-Exploration, stated: “The four wedge holes plus the first deep hole that recently started from surface confirm intense veining at this exciting new grassroots discovery in an historically productive camp just 75 kilometers from Kirkland Lake.
“Exploration is targeting one or more deposits at Castle East in the Nipissing diabase, with excellent gold potential in the Archean rocks above and below the diabase. We have assembled a powerful team equipped with state-of-the-art technology including GoldMinds Geoservices’ custom-built downhole camera to unlock the full value of this prolific past producing camp for Canada Cobalt,” Halliday concluded.
Following a short Christmas-New Year’s break for drill crews, drilling at the Robinson Zone Discovery will resume during the first week of January.
Initial assay results from underground drilling at the Castle mine are expected to be released during the week of December 30 followed by another important update from Castle East.
Canada Cobalt management extends best wishes to shareholders for a Merry Christmas and happy holidays.
Maps/Images
Included in this news release (see below) is an updated vertical section for the Castle East high-grade silver discovery. Refer to the Canada Cobalt web site at CanadaCobaltWorks.com for additional maps, images and video that will be posted during this drill program.
Quality Control/Assurance
The drill program and sampling protocol are being managed by geologists from GoldMinds Geoservices. Holes CS-19-08-W01 to W04 were wedges drilled off the historic CA-11-08 hole. The original hole was re-opened, a modern gyro survey was completed to confirm the location of the hole at depth and then the wedges were drilled from different depths using NQ diameter drill core. Samples were collected using a 0.3-meter minimum length, one-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the sawn core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. For the high-grade intercepts, only one-quarter of the core has been sent for assaying to Swastika Laboratories in Swastika, Ontario. Where silver was visually and significantly present, a Pulp-Metallic analysis was requested for the silver and gold assays where the entire sample will be dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The -200 mesh fraction (fines) will be run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction will be analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample.
Swastika Laboratories is an ISO certified lab independent of Canada Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Merouane Rachidi, Ph.D., P.Geo., (APGO, 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. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“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/December2019/23/c6994.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
Silver Spruce Announces Non-Brokered Private Placements
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfurt:S6Q1) (“Silver Spruce” or the “Company”) announces a non-brokered flow-through unit and a non-flow-through unit financing.
The Company is offering to sell up to 8,000,000 flow-through units at $0.05 cents per Unit for total proceeds of up to CDN $400,000. Each flow-through unit will consist of one (1) common share in the capital of Silver Spruce and one share purchase warrant. Each flow-through warrant will entitle the holder to purchase one additional common share of Silver Spruce (a “Warrant Share”) for $0.075 cents at any time prior to the date which is twelve months (1 year) from a particular Closing Date, at which time the Warrants will expire.
The Company is also offering to sell up to 8,000,000 units (the “Units”) in the capital of the Company at a price of $0.05 cents per Unit for total proceeds of up to CDN $400,000. Each unit will consist of one (1) common share in the capital of Silver Spruce and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of Silver Spruce (a “Warrant Share”) for $0.075 cents at any time prior to the date which is twenty-four months (2 years) from a particular Closing Date, at which time the Warrants will expire.
All units acquired pursuant to the private placements, and shares which may be acquired upon the exercise of the warrants, are subject to a four (4) month hold period in accordance with applicable securities legislation.
The net proceeds of the flow-through financing shall be used for exploration programs at Melchett Lake VMS project in Ontario, and the net proceeds of the non-flow-through financing shall be used for general working capital. The Company will pay all reasonable expenses and fees incurred in connection with the Offerings, and Agents will be paid a negotiated cash fee as a percentage of the gross proceeds raised in the Offerings. These financings, respective terms and finder’s fees are subject to TSX Venture Exchange approval.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
Toll Free: (866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
Canada Cobalt Intersects Massive Silver as Castle East Discovery Builds Out
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that initial and ongoing follow-up drilling at the Castle East Robinson Zone high-grade silver discovery has intersected massive native silver mineralization over a wider vein width up-dip from drill hole CA-11-08, further supporting the potential for a rich new silver-cobalt system in the heart of a basin area immediately adjacent to three past producers in the prolific Gowganda Camp.
Following four successful short wedge holes that provided important initial pierce points into this northwest-southeast striking and southwest dipping vein structure, Canada Cobalt has just commenced a program of new drill holes from surface aimed in part at determining the full extent of this highly mineralized “shoot”. The deposit model and history of the Camp, and the broader Northern Ontario Silver-Cobalt district, shows that these narrow but unusually rich vein shoots (generally one to six inches in true width and in rare cases up to ~12 inches in true width) can extend for tens or even hundreds of feet (pinching and swelling). They are typically surrounded by strongly mineralized wall rock and often within a network of closely spaced parallel veins and veinlets in addition to silver-filled fractures.
The Robinson Zone discovery is unique in the district as it’s a grassroots find of a potential “blind” deposit aided by geophysics (induced polarization surveys) and a custom built high technology downhole camera successfully deployed by GoldMines Geoservices who are managing the current drill program.
Drilling Highlights:
- Wedge hole CS-19-08-W01 intersected a visually highly mineralized core interval of 4.65 meters (15.25 feet) approximately 10 meters above and west of CA-11-08. Significantly, this interval includes a large vein of 20 cm (8 inches) estimated true width of intense native silver, pervasive carbonate alteration and a visually higher silver-to-calcite ratio than CA-11-08 which returned 40,944 g/tonne (1,194 oz/ton) silver over an estimated true width of 5 to 7 cm (2 to 2.5 inches) at a vertical depth of approximately 430 meters;
- The shoot of high-grade mineralization within the Robinson Zone discovery vein is now believed to extend for at least 15 meters (49.2 feet) and was not delimited in any way through the four wedge holes that each intersected multiple veins and silver-filled fractures;
- Core from the first four wedge holes has been split and some samples have already been sent for assaying (assays from the first wedge hole are possible prior to Christmas).
Doug Robinson, P.Eng., a Canada Cobalt consultant and a leading authority on silver-cobalt deposits in the Northern Ontario Silver-Cobalt District, commented: “I’ve always believed there were more Castles at Castle. History shows that these richly mineralized shoots are never found in isolation. In this case, modern technology has opened a whole new domain of exploration for Canada Cobalt. What was understandably missed by historic miners and explorers even 20 or 40 years ago is today’s big opportunity in a region proven to have very strong metal endowment as the birthplace of Canadian hard rock mining.”
Additional Highlights:
- The Robinson Discovery Zone vein shoot has been found just below the middle of the Nipissing diabase at under-explored Castle East. The upper and lower portions of the Nipissing diabase in this part of the 78 sq. km property have never been systematically tested, reinforcing the potential for additional deposits beyond the three main mines in the Gowganda Camp that were very active high-grade silver producers last century;
- The Robinson Zone discovery is 1.9 kilometers east of Castle Shaft #3 and less than one kilometer east of the historic workings at the Capitol and Siscoe (Miller Lake O’Brien) mines;
- The deposits in the Gowganda Camp are associated with low angle faults, and those low angle faults are believed to extend to the Robinson Zone and beyond;
- Drilling continues until a few days prior to Christmas when crews will take a short break and then resume drilling during the first week of January. All-in costs for winter drilling are below industry average at approximately $175 (CDN) per meter.
Maps and Photos
Included in this news release (see below) is a plan view map and three core photos representative of massive mineralization at this new discovery. Refer to the Canada Cobalt website at CanadaCobaltWorks.com for updated maps and additional core photos throughout this drill program.
Castle Property/Gowganda Camp
Disclaimer: Core photos below are of selected intervals and are not necessarily representative of the mineralization hosted on the property.
Core Photo 1 – CS-19-08-W01
Core Photo 2 – CS-19-08-W02
Core Photo 3 – CS-19-08-W03
Corporate Update
Mr. Matt Halliday commences his duties as VP-Exploration for Canada Cobalt beginning Monday, December 16 (refer to Nov. 18, 2019 news release). He officially joins Canada Cobalt from Kirkland Lake Gold where he has been serving as resource geologist.
Mr. Halliday will guide Canada Cobalt’s expanded underground and regional exploration programs in addition to playing an important role at “CCW PolyMet” in an acquisition that’s expected to close prior to year-end.
Quality Control/Assurance
The drill program and sampling protocol are being managed by geologists from GoldMinds Geoservices. Holes CS-19-08-W01 to W04 were wedges drilled off the historic CA-11-08 hole. The original hole was re-opened, a modern gyro survey was completed to confirm the location of the hole at depth and then the wedges were drilled from different depths using NQ diameter drill core. Samples were collected using a 0.3-meter minimum length, one-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the sawn core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. For the high-grade intercepts, only one-quarter of the core has been sent for assaying to Swastika Laboratories in Swastika, Ontario. Where silver was visually and significantly present, a Pulp-Metallic analysis was requested for the silver assays where the entire sample will be dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The -200 mesh fraction (fines) will be run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction will be analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample.
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. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“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/December2019/12/c1858.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
EXMceuticals Inc. Provides Corporate Update
EXMceuticals Inc. (CSE: EXM) (FSE: A2PAW2) (the “Company” or “EXM”), a producer of cannabis extractions and refined ingredients for the pharmaceutical, nutraceutical, therapeutical and cosmetic industries, is very pleased to provide a corporate update following a series of announcements in the last few months.
Key Research & development license achieved in Portugal
At the end of October, EXMceuticals announced that it has obtained the licence for cannabis research and development from INFARMED, the Portuguese National Authority of Medicines and Health Products. This license allows the company to make a huge step forward in its European operations by being able to import, research and refine cannabinoids and cannabis by-products in Europe. Steps are now being taken to expand this to a commercial license approval to enable EXM to supply cannabis ingredients and products.
EXM’s existing fully operational R&D laboratory in Portugal is already developing cannabis-based products and will also operate as a pilot-scale refinery for the transformation of cannabis-based ingredients. With its Portuguese license, EXMceuticals is making a leap forward with regards to its activities in the country and the European Union. The R&D company will now convert its research work into real-life wellness products and pursuit for innovative solutions. In parallel, EXM is optimizing the refining processes using state of the art technology.
Interview with Investing News and Benzinga
As a result of the company’s growing activities and credibility in the market, chairman Jonathan Summers and chief operating officer Tanek Amin were invited by Investing News to comment on the company’s latest activities as well as their vision of the challenges of appealing to investors with a pharmaceutical-like approach to the cannabis market.
On the same vein, Mr. Summers also conducted an interview with Benzinga where he discussed what it means to take the social responsibility model one step further and how the company intends to grow its presence and activities in Africa in a way that is beneficial for both EXM and the local communities.
Portugal Medical Cannabis sponsorship
In early November, EXMceuticals was proud to sponsor and participate to the Portugal Medical Cannabis 2019. This scientific event gathers more than 400 renowned cannabis professionals from 17 countries to discuss studies on cannabis and its derivatives for the benefit of patients. As a producer of high-grade cannabis and hemp ingredients for the pharmaceutical, therapeutical, nutraceutical and cosmetic industries, EXMceuticals is happy to contribute to the quality and quantity of scientific research on medical cannabis.
Presentation at the MjMicro Conference in Beverly Hills
In October, EXMceuticals had the privilege to be a Featured Presenter at the MjMicro Conference in Beverly Hills, a forum which gathers upon invitation the best and most promising publicly traded companies in the cannabis industry. This event is a rare opportunity for investors to get real-time conversations and updates from high-level cannabis executives as well as recognised industry experts.
During his conference, EXMceuticals’ VP Julie Lemieux discussed with investors and potential investors about the company’s vision for the future, its research & development leadership and facilities in Portugal, EXM’s potential Malawi activities and more. She also presented an overview of EXM’s latest accomplishments, including its research & development license in Portugal and the appointment of cannabis industry leader Tripp Keber as Special Advisor to the Board, all of which are important steps that enables EXMceuticals to expand its work in both Europe, Africa, and the USA.
Presentation at the German Equity Forum
Finally, on November 26th, Chairman Jonathan Summers spoke at the German Equity Forum in Frankfurt, Germany. One of the most important and significant capital market events on corporate finance in Europe, this event was an opportunity for EXM to meet various investors and analysts. As a speaker, Mr. Summers presented EXM’s key milestones, financial projections and the pipeline of its activities, from seed to sale.
Year End Audit
The Company is pleased to announce that it has filed its annual financial statements and management discussion and analysis for its financial year ended June 30, 2019 (the “Annual Filings”) and its first quarter financial statements and management discussion and analysis for the interim period ended September 30, 2019 (the “Q1 Filings”). The Company applied to the British Columbia Securities Commission, as principal regulator, for a voluntary management cease trade order (the “MCTO”) in accordance with National Policy 12-203 Management Cease Trade Orders due to not being able to file its Annual Filings on SEDAR within the prescribed time period required under National Instrument 51-102 Continuous Disclosure Obligations. The Company required additional time to complete its Annual Filings due to this being the first annual financial statements of the consolidated company following a reverse takeover. The Company was granted a MCTO on October 29, 2019, and the MCTO was lifted on December 9, 2019. The Annual Filings and Q1 Filings are both available for review under the Company’s profile at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF EXMCEUTICALS INC.
Jonathan Summers, Chairman and Chief Executive Officer
For further information contact:
Investor Relations
Email: investors@exmceuticals.com
Media Enquiries:
Email: media@exmceuticals.com
Europe – Jane Glover+44 (0) 203 757 4990
North America – Mélanie Guillemette: +1 819 668 2734
ABOUT EXMCEUTICALS
EXM is targeting the wellness and medical applications of cannabis. EXM’s activities are focused on the sustainable cultivation of cannabis and hemp, and the production of high-grade cannabis and hemp ingredients for the pharmaceutical, therapeutical, nutraceutical and cosmetic industries. The Company proposes to sell the produced ingredients to international markets. EXM is not a recreational cannabis company.
EXM was recently granted the required authorizations and permits in Portugal for its existing laboratory and pilot refinery for cannabis research. EXM has previously completed research projects with its university partners, Universidade Nova de Lisboa and Universidade Lusofona as well as applying for P2020 research grants. Following receipt of these unique Portuguese cannabis authorizations and permits, EXM is proceeding with its planned R&D program, lab work and testing. In addition to this more scientific mandate, EXM is now building a significantly larger refining facility in Portugal which once complete and licensed will be used by EXM as its base for distribution of cannabis ingredients in the EU and North America.
EXM has also submitted applications and undertaken negotiations with local governments and partners in Ethiopia, Malawi, Zambia, Eswatini and Burundi, in order to obtain licences to permit the cultivation of cannabis and hemp, as well as the processing, transformation and export of psychotropic and non-psychotropic cannabinoid ingredients. In Ethiopia, EXM is in its final stage of negotiation with the government for an agro-industrial park, of 4,000 hectares (9,880 acres) encompassing a free trade zone, for which EXM has already obtained land rights over 2,000 hectares (4,940 acres) in the Amhara region.
- Published in Cannabis, EXMceuticals, Marijuana, News Home
IAMGOLD Pays $2.35 Million to Vanstar and Gets an Additional 24% Interest in the Nelligan Project
Vanstar Mining Resources Inc. ( Vanstar ) announced that IAMGOLD Corporation (IAMGOLD), their strategic partner in the development of the Nelligan project, exercised in advance its option to increase its undivided interest in the Nelligan project by 24% to now hold a 75% interest in the property. Vanstar retains a 25% interest and 1% NSR in the original claims.
Under the terms of the amended agreement of February 2018, IAMGOLD has fulfilled all the required conditions by delivering a first NI43-101 estimate of mineral resources and by doing the remaining cash payment of C$ 2.35 million.
IAMGOLD can earn an additional 5% interest by delivering a feasibility study.
“It is reassuring to see that our partner completes all the requirements more than 2 years before the deadline set in the agreement. This confirms well the great potential of the Nelligan project. Nearly 3.2 million ounces of gold inferred have already been delineated with just under 56,000 meters of drilling. If we compare this yield per meter drilled with other current projects, we find that Nelligan offers an unusual homogeneity which can allow to quickly increase additional resources. Everything remains open both laterally and at depth, in a gold corridor of potentially more than 4 kilometers.” mentioned Mr. Guy Morissette, CEO and President of the company.
In another press release, Mr. Craig MacDougall, Senior Vice President, Exploration of IAMGOLD, mentioned: “The exercise of the option to increase IAMGOLD’s ownership to 75% consolidates our participation in this new discovery and further supports our view of this favorable exploration potential for the discovery of additional resources. We look forward to continuing to work with Vanstar as we are advance our exploration efforts on the Project.”
The Nelligan project is located in the Chapais-Chibougameau region and consists of 158 claims within an area of 8,216 hectares. It is accessible all year long by different forest roads. The project hosts mineral resources consisting of inferred resources limited by a pit, totaling 96,990,000 MT at an average grade of 1.02 grams of gold per ton for 3,193,000 ounces of gold (see press release of October 22, 2019).
Next Step.
In the coming months, additional metallurgical testing will be conducted to provide additional information on metallurgical recoveries of different mineralization zones, including the Nelligan mineral resources, and to help optimizing the process scheme parameters.
Planning for future drilling programs is underway and will include a number of objectives, including: additional infill drilling to improve resources classification and convert inferred resources into an indicated resources category; evaluate the potential resources extensions in the deepest parts of the deposit; and evaluate the expansion of resources along the strike.
Regional exploration will also continue to define and test other priority exploration targets on the property.
The company is also granting to their board members and directors a total of two million stock options that can be exercised on or before December 10, 2024, at a price of $0.35 per share.
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of this release.
Sources: | Sébastien Plouffe, VP – Investor Relations |
514-947-2272 sebas.plouffe@gmail.com | |
Gary Claytens, VP – Western Corporate Development | |
604-761-3233 | |
info@rvanstar.com | |
www.vanstarmining.com |
- Published in Mining, News Home, Vanstar Mining
San Marco Retains Momentum Public Relations Inc. for Strategic Business Development
San Marco Resources Inc. (TSXV: SMN) (“San Marco” or the “Company”) is pleased to announce that it has retained Momentum Public Relations Inc. (“Momentum”) to assist with strategic business development activities.
Momentum, a Montreal, Quebec based public relations firm, will assist the Company in increasing public awareness by managing the Company’s corporate communications and marketing activities and facilitating dialogue with the Company’s shareholders, finance professionals, analysts and media contacts within the North American investment community.
Max Gagne-Godbout, Momentum’s President, commented: “We are proud to add San Marco to our umbrella of carefully chosen mining clients. The San Marco team comprises experts with impressive track records. We are confident in their ability to enhance shareholder value by developing current assets, as well as adding new opportunities, which they are actively involved.”
The agreement with Momentum has a term of 12 months at $8,500 per month. After the initial 4-month period, either party may terminate the agreement on 30 days written notice without penalty. Under the agreement, the Company will grant Momentum a stock option to purchase 150,000 shares for a period of one year exercisable at the market price per share at the time of granting. The option will vest quarterly on granting, and three, six, and nine months after granting pursuant to the terms of the Company’s stock option plan.
The agreement with Momentum is subject to approval by the TSX Venture Exchange.
About Momentum
Momentum assists public companies in distributing their messaging to target audiences within the North American investment community. Through a national network of institutional investors, analysts and financial media relationships, the team may communicate the clients’ value drivers, growth potential and development vision clearly and efficiently. The experienced team of communications specialists work closely with senior management to build campaign objectives and market activity while executing on a long-term investor relations strategy and respond to immediate changes.
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
Sharyn Alexander, M.Sc.
VP Technical Services
- Published in Mining, News Home, San Marco Resources
Downhole Camera Guides Canada Cobalt to High-Grade Silver Target as Drilling Commences at Castle East
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that diamond drilling has commenced at Castle East for first-ever follow-up on the “Robinson Zone” high-grade discovery, a drill hole in 2011 that cut 1,194 oz/ton silver (40,944 g/t) over 0.45 meters within a broader core length of 3.1 meters grading 189 oz/ton (6,476 g/t) silver (refer to August 25, 2011, Gold Bullion Development news release).
This discovery, aided initially by geophysics and now supported by a high technology camera, is less than two kilometers east of three prolific past producers in the Gowganda Camp – the Castle, Capitol and Siscoe mines. Those deposits were exploited along the shallow western margin of the productive Nipissing diabase that dips toward the very under-explored Castle East area where Canada Cobalt is now targeting additional deposits, within and outside the diabase.
Significantly, the Company has enhanced the exploration opportunity at the Robinson Zone by using a custom-built borehole inspection camera to successfully reach the 2011 drill hole intersection of spectacular native silver at a vertical depth of approximately 420 meters. The CCW technical team was able to view, identify and film the vein. This provided an invaluable geometric characterization of the unit, allowing for an accurate plotting of a series of wedge holes designed to pierce the vein structure at four different points to immediately build out this high-grade discovery.
Following completion of the wedge holes, a new hole will be drilled to intersect the vein structure(s) closer to surface.
Further updates on Castle East will be provided in the near future. As announced November 18, 2019, Canada Cobalt has appointed Matt Halliday, P.Geo., as VP-Exploration of the Company. He officially joins Canada Cobalt December 15 from Kirkland Lake Gold where he has been serving as resource geologist.
(The 2011 drilling and drill core sampling, including the quality assurance/quality control, were supervised by Doug Robinson, P.Eng. and project geologist. Core was sent to Accurassay Laboratory in Timmins, Ont., for sample preparation and to its Thunder Bay laboratory for analysis. Silver was assayed by fire assay with AA check with additional pulp and metallics done on samples where significant silver was identified. Analytical accuracy and precision were monitored by the analysis of reagent blanks and reference materials at the lab. Quality control was further assured by the insertion of blind certified standard reference material and blanks into the sample stream at regular intervals by Mr. Robinson to independently assess analytical accuracy.)
Private Placement Closing
The Company has closed a non-brokered flow-through (“FT”) private placement with strategic investors, raising gross proceeds of $800,000. The Company issued 1,600,000 FT shares at $0.50 per share. No warrants were included in this financing. The private placement is subject to final Exchange approval.
Finder’s fees were paid in connection with the private placement in the amount of $45,500 in cash and 91,000 finder warrants. Each finder warrant is exercisable at $0.50 per share for two years from closing. The finder’s fee is also subject to Exchange approval.
All securities issued in connection with the private placement are subject to a four-month and a day hold period expiring April 5, 2020, in accordance with applicable securities laws.
The proceeds of the FT private placement will be used to build out the Castle East discovery and to advance the Beaver Property near the town of Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Frank J. Basa, P.Eng., Canada Cobalt’s President and Chief Executive Officer, who is a member of Professional Engineers Ontario and 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. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“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: http://www.newswire.ca/en/releases/archive/December2019/04/c1714.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