Pacton Gold Appoints Sprott Capital Partners as Advisor
Momentum Public Relations
Press Release: March 15 2018
Pacton Gold Inc. (TSXV: PAC) (the ” Company ” or ” Pacton “) is pleased to announce the appointment of Sprott Capital Partners as advisors to assist the Company with its awareness and marketing arrangements, including providing strategic capital advice to the Company.
About Sprott Capital Partners
Sprott Capital Partners , a division of Sprott Private Wealth LP, was formed in 2016 to provide advice and capital raising services to natural resources companies. Led by a team of seasoned investment banking professionals with extensive networks of industry contacts, Sprott Capital Partners provides expert counsel to its clients. Sprott Captial Partners was involved in one billion dollars of capital raising in 2017.
On Behalf of the Board of Pacton Gold Inc.
Alec Pismiris
Interim President & CEO
For more information, please contact 1-(855)-584-0258 or dom@pactongold.com.
- Published in Pacton Gold Inc.
Auxico Announces Discovery of Scandium and Gold on the Metalor Property, Colombia
Momentum Public Relations
Press Release: March 13 2018
Auxico Resources Canada Inc. (CSE:AUAG) is pleased to announce the sampling results taken from the Metalor property in Colombia. A total of six selected samples were taken. Five of the six samples contain scandium within an average content of 1,300 grams of scandium per tonne. Five of the six samples contain gold with an average gold content of 21 g/t.Scandium oxide currently sells at $4,200 US per kilogram and scandium metal sells at $15,000 US per kilogram. The selected samples were taken over a distance of approximately 481m. This fault can now be observed over a width of at least 480m on the property and the high-grade scandium and gold values are associated with the fault, which is represented by an exhalative shale sequence containing disseminated to massive sulphide strata. On February 16th, 2018, the Trump administration declared scandium as a strategic metal (“Critical Minerals”) for the United States, to be considered “vital for the Nation’s security and economic prosperity”.
Sample | Analysis / XRF mode |
Sc (ppm) (g/t) |
Au (ppm) (g/t) |
M1 | 1 | / | 30.60 |
2 | 1,315.01 | / | |
3 | 1,808.43 | 1.75 | |
M2 | 1 | 1,695.39 | / |
2 | 2,025.01 | 1.61 | |
3 | 2,461.35 | / | |
M3 | 1 | / | 36.14 |
2 | 237.46 | 40.08 | |
3 | / | 36.84 | |
M4 | 1 | 167.01 | / |
2 | 1,132.13 | / | |
3 | 4,627.06 | 4.10 | |
M5 | 1 | / | 21.51 |
2 | / | 10.03 | |
3 | / | 33.18 | |
M6 | 1 | 234.53 | / |
2 | 246.70 | / | |
3 | 580.05 | / |
Table 1: Recoveries of scandium and gold from the Metalor Property
All of the samples were taken by Jesus Eduardo Pimienta González, independent consulting mining engineer. They were tagged, located using a handheld Garmin GPS unit, put into separate sample bags, and brought into the Symtek laboratory in Bogota. The samples are characterized by a combination of river floats, subcrop at the base of the mountains adjacent to the river, and also outcrop, and are not necessarily representative of the mineralization throughout the property, however, Auxico is planning a reconnaissance prospecting and sampling campaign which will begin shortly. This campaign will include detailed exploration work in the area of the fault where these samples were collected.
The samples were analyzed in Bogota, Colombia by Symtek, an SGS affiliate, using a Thermo Scientific Niton XL5 handleld XRF Analyzer, a mass spectrometer which measures 68 elements including gold and scandium in parts per million (ppm) with a 99.7% confidence interval. The samples were tested in the lab in three different modes as shown on the table above i.e. (1) rare earth mode, (2) soil mode and (3) geological mode. These same samples were just sent to SGS laboratory in Medellin for sample preparation and will be analyzed for gold by fire assay with a gravimetric finish, and will also be analyzed using sodium peroxide fusion with an ICP-AES finish on 29 elements including Scandium. Results of the selected samples will be disclosed as soon as they become available from SGS.
Qualified Person
This news release was reviewed and approved by Joel Scodnick, P.Geo., an independent consultant to Auxico, in his capacity as a Qualified Person, as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
« signed »
Mark Billings
President, Auxico Resources Canada Inc.
mb@auxicoresources.com
Cell: +1 514 296 1641
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. (“Auxico”) in a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Mexico. The Company has a 100% interest in the Zamora Silver-Gold Property in Sinaloa, Mexico. Auxico will continue to identify and potentially acquire additional property interests and conduct exploration and evaluation of these properties to assess their potential.
- Published in Auxico Resources
Auxico Announces the Acquisition of Thirteen Properties in Colombia and First Test Results
Momentum Public Relations
Press Release: March 5 2018
Auxico Resources Canada Inc. (CSE:AUAG) is pleased to announce the acquisition of thirteen (13) properties located 75 km southwest of the city of Bogota, Colombia. These properties represent a total of 65,000 hectares with each property averaging approximately 5,000 hectares. This area is known for high-grade gold and cobalt, as well as other base metals.
Joel Scodnick, the Company’s consulting professional geologist, visited the properties and validated the metal content from the samples. We are pleased to announce the first results of the Restopo property where volcanic boulders up to 1 ton in size, yielded results of up to 16.3% copper. A certified technician form Symtek, affiliated with SGS Laboratories in Colombia, analyzed the samples.
Further results from all of the properties are expected this week.
Qualified Person
This news release was reviewed and approved by Joel Scodnick, P.Geo., an independent consultant to Auxico, in his capacity as a Qualified Person, as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Billings
President, Auxico Resources Canada Inc.
mb@auxicoresources.com
Cell: +1 514 296 1641
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. (“Auxico”) in a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Mexico. The Company has a 100% interest in the Zamora Silver-Gold Property in Sinaloa, Mexico. Auxico will continue to identify and potentially acquire additional property interests and conduct exploration and evaluation of these properties to assess their potential.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
- Published in Uncategorized
Alliance Mining Receives Drill Permit for its 100% Owned Packsack Gold Property in Bissett Gold Camp, Manitoba
Momentum Public Relations
Press Release: February 23 2018
Alliance Mining Corp. (TSXV: ALM) has received a drill permit for its upcoming drill program on its Packsack gold property. Alliance has an option to acquire 100% of the Red Rice Lake gold property, located in the centre of Bissett gold camp in Manitoba, Canada.
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The Red Rice Lake gold property claims are located within the Archean Rice Lake greenstone belt in southeastern Manitoba. This belt forms part of the Uchi sub province that includes the Red Lake and Pickle Crow belts in Northwestern Ontario.
The Packsack property hosts several gold-bearing veins within a conjugate fracture set adjacent to the Red Rice shear zone. The structural control on veining at the Packsack property is similar to that at the True North Mine, 4 km northeast, operated by Klondex Mines Ltd.
Previous exploration on the Packsack property has been focused on the Big Dome Vein, with a shaft to 525 feet (160 metres) and 2,867 feet (874 metres) of drifting and crosscutting on 4 levels down to 500 feet (152 metres), all completed between 1936 and 1940.
Christopher Anderson, President and CEO, stated: “We are looking forward to receiving drill results from this promising gold property. This property has never been explored below the shaft that was sunk in the 1930’s.”
The company is anticipating its drill program will commence in the near future and will be releasing a more comprehensive description of drill targets and locations shortly.
Alliance is also pleased to announce that it has retained consulting geologist William C. Hood, P.Geo to supervise the Packsack drilling program and to assist with expanding Alliance’s involvement in the Bissett gold camp. Mr. Hood has four decades of mineral exploration experience and has supervised multiple drill and exploration programs in the Bissett gold camp.
Alliance is actively seeking to expand its presence in the Bissett Gold camp through future property acquisitions and/or potential joint venture exploration partnerships with neighbouring companies.
For more information, please visit the company’s website www.alliancemining.com, contact Christopher R. Anderson, President and CEO, at 604-488-3900 or email ir@alliancemining.com.
- Published in Alliance Mining
Osisko Gold Royalties Ltd. buys 25.3M Corex Gold shares
Momentum Public Relations
Press Release: February 16, 2018
Pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Alamos Gold Inc. is issuing this news release, having sold 25.3 million common shares of Corex Gold Corp., representing approximately 16.12 per cent of the outstanding shares of Corex by way of a private share purchase and sale agreement with Osisko Gold Royalties Ltd., at a price of 13 cents per common share for gross proceeds of $3,289,000. Following the transaction, Alamos will hold no shares in Corex.
The early warning report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by the company on Corex’s SEDAR profile.
Alamos carried out the transaction for investment purposes.
About Alamos Gold Inc.
Alamos is a Canadian-based intermediate gold producer with diversified production from four operating mines in North America. This includes the Young-Davidson and Island gold mines in Northern Ontario, Canada, and the Mulatos and El Chanate mines in Sonora state, Mexico. Additionally, the company has a significant portfolio of development-stage projects in Canada, Mexico, Turkey and the United States.
- Published in Corex Gold
Minera Alamos and Corex Gold Combine to Create a Leading Mexican Gold Company
Momentum Public Relations
Press Release: January 30 2018
Minera Alamos Inc. (“Minera Alamos”) (TSX VENTURE:MAI) and Corex Gold Corporation (“Corex”) (TSX VENTURE:CGE) are pleased to announce that they have entered into a definitive arrangement agreement dated January 30, 2018 (the “Agreement”) to combine the two companies, creating a well-funded, multi-asset, Mexican gold development company (the “Transaction”). The combined company will have a market capitalization of approximately C$50 million, approximately C$6 million in cash and a portfolio of three high quality gold-silver development assets, each offering near-term production potential and low capital cost advantages.
Under the terms of the Agreement, each Corex shareholder (“Corex Shareholder”) will be entitled to receive 0.95 common shares of Minera Alamos (“Minera Alamos Shares”) in exchange for each Corex share (“Corex Share”) held. Upon completion of the transaction, existing Minera Alamos and Corex shareholders will each own approximately 50% of the outstanding shares of the combined company (the “Company”).
Transaction Highlights
- Continued accretive and aggressive growth through acquisitions: The arrangement with Corex represents the second major transaction completed by Minera Alamos in the last three months following the announcement of the company’s strategic partnership with Osisko Gold Royalties Ltd. and stated goal to build a significant new gold producer in Latin America.
- Multi-asset gold company with growing production potential: The combined company will have three advanced-stage gold-silver assets in Mexico supporting the vision of becoming a near‑term gold producer with an expanding resource base.
- Expanded management and technical capabilities: The proven mine development team and board of directors of Minera Alamos will be further enhanced by the continuing involvement of Chester Millar, Canadian Mining Hall of Fame Inductee and former Chairman of Eldorado Gold Corporation, Glamis Gold Ltd., Alamos Gold Inc. and Castle Gold Corporation.
- Strong Shareholder Support: Minera Alamos has entered into voting and support agreements with each director and senior officer of Corex and certain significant shareholders representing approximately 26% of the outstanding Corex Shares.
- Real Property Synergies: Corex’s Santana claim area is contiguous with Minera Alamos’ Los Verdes mineral claims and there is an immediate opportunity to continue exploration of the Santana gold structures drilled to date which may extend into the Los Verdes area.
Darren Koningen, President and CEO of Minera Alamos, said, “The combination with Corex is the next phase of our previously announced strategy of acquiring and advancing low development cost gold projects. The Santana project is highly complementary to our existing portfolio and offers tremendous resource upside, coupled with a unique ability to fast-track the Company’s transformation into a gold producer utilizing the existing heap leach infrastructure already in place at site. We are well-positioned to grow quickly into a leading junior gold producer with significant exploration upside.”
Doug Ramshaw, President and CEO of Corex, stated, “I am extremely excited for the prospects of the combined company. We are reuniting the Castle Gold development team led by Chester Millar and Darren Koningen which successfully drove the development of the El Castillo gold mine subsequently acquired by Argonaut Gold for C$130 million. For Corex shareholders we expect the transaction will allow for the accelerated development of Santana towards a commercial scale production decision and we will also benefit from the pipeline of high quality development assets in Minera Alamos.”
Benefits to Corex Shareholders
- Diversifies asset base with two additional high quality precious metals assets contributing toward a portfolio approach to future production
- Access to expanded technical team with proven gold mine development and operational team led by Darren Koningen
- Strengthens balance sheet, providing financial resources for advancement of Santana production initiatives and longer-term exploration opportunities
- Enhances shareholder base with long-term funding partners to evaluate and execute on medium-term growth plans
- Increases trading liquidity, strengthens capital markets profile, and provides a strong platform for future acquisitions
Benefits to Minera Alamos Shareholders
- Adds advanced stage asset to portfolio to help fund future growth: Following the completion of the current test mining program the combined management group will look to move quickly towards commercial production.
- Doubles market capitalization, allowing Minera Alamos to continue to pursue its acquisition and development strategy
- Strengthens Board of Directors with the expected additions of Chester Millar, a heap leach pioneer and member of the Canadian Mining Hall of Fame, and Doug Ramshaw, a mining geologist and capital markets professional with more than two decades of global industry experience
- Boosts Minera Alamos’s exploration pipeline with opportunities for significant resource growth and regional exploration across three assets
Transaction Summary
The proposed business combination will be completed by way of share exchange pursuant to a statutory plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia) resulting in Corex becoming a wholly owned subsidiary of Minera Alamos, and will require, among other things, the approval of at least 66 2/3 percent of the votes cast by shareholders of Corex at a special meeting expected to be held in April 2018 (the “Corex Meeting”). The Transaction will also require approval by a “majority of the minority” of the shareholders of Corex pursuant to Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions. Shareholders of Corex representing approximately 26% of the issued and outstanding Corex Shares, including all of the directors and senior officers, as well as certain shareholders of Corex, have entered into voting and support agreements with Minera Alamos in support of the Transaction.
The Arrangement will also provide for the issuance by Minera Alamos of replacement stock options to Corex optionholders who do not exercise their Corex options prior to the effective time of the Arrangement, at exercise prices adjusted by the exchange ratio. Under the Arrangement all existing warrants of Corex will become exercisable to acquire Minera Alamos common shares at exercise prices adjusted by the exchange ratio.
In addition to required shareholder and court approvals, the Transaction is subject to applicable regulatory approvals including approval of the TSX Venture Exchange and the satisfaction of certain other customary closing conditions in transactions of this nature.
The Agreement includes customary provisions including non-solicitation provisions, a right to match any superior proposal, a “fiduciary out” clause and a C$600,000 termination fee payable to Minera Alamos in certain circumstances if the Transaction is not completed. Full details of the Transaction will be included in the management information of Corex describing the matters to be considered at the Corex Meeting, which is expected to be mailed to the shareholders of Corex in early March 2018, and made available on SEDAR under Corex’s issuer profile at www.sedar.com.
Board of Directors’ Recommendations
The Board of Directors of Corex, has unanimously approved the proposed Transaction and recommends that Corex Shareholders vote in favour of the proposed Transaction. The Board of Directors of Corex has received an opinion from Fort Capital Partners that, based upon and subject to the assumptions, limitations, and qualifications stated in such opinion, the consideration to be received by Corex Shareholders pursuant to the proposed Transaction is fair, from a financial point of view, to the Corex Shareholders.
Additionally, the Board of Directors of Minera Alamos has unanimously approved the proposed Transaction. The Board of Directors of Minera Alamos received an opinion from Haywood Securities Inc. that, based upon and subject to the assumptions, limitations, and qualifications stated in such opinion, the consideration to be paid by Minera Alamos pursuant to the proposed Transaction is fair, from a financial point of view, to the Minera Alamos Shareholders.
Company Project Portfolio
The Company’s project portfolio offers a compelling mix of potential future production and a pipeline of late‑stage development projects all within Mexico.
Santana (Corex) – Gold heap leach pilot test production underway
Corex’s flagship property is the 100% owned Santana Project (“Santana”), located 50 km southwest of Alamos Gold Inc.’s Mulatos Mine in Sonora, Mexico. The property spans an 8,500 hectare land package in the Sierra Madre Occidental Range, one of the most prolific precious metals regions globally. Surrounded by excellent infrastructure, Santana is permitted for Corex’s ongoing bulk-sampling and heap leach studies. To date approximately 23,000 tonnes of mineralized material have been leached under the bulk test program with the first gold sale of 220 oz reported in October 2017 and a pending second gold sale that will allow for the reconciliation of final gold recoveries. The results to date from the initial bulk test have confirmed or exceeded management’s expectations for gold recovery and leach times as well as reagent consumptions.
Santana is envisioned as an open pit heap leach project with a large contiguous land package containing numerous exploration targets property-wide. The project claim area is also contiguous with Minera Alamos’ Los Verdes mineral claims and the Santana gold structures drilled to date may extend into the Los Verdes area.
La Fortuna(Minera Alamos) – Permitting underway with PEA expected in Q1-2018
La Fortuna is located in the northwestern corner of the State of Durango, Mexico, about 70 kilometers northeast of Culiacan, Sinaloa where Minera Alamos operates its Mexican office. The property includes the historic La Fortuna mine together with surrounding concessions, totaling +6,200 hectares. All key technical studies (resource, mine planning, metallurgy, tailings design, etc.) have been completed for the project Main Zone and the company has already acquired a used processing plant that can serve as the core of the site infrastructure requirements. Environmental permit applications have been submitted and are pending.
In addition to the Fortuna Main Zone, several other mineralized areas have been identified and demonstrated via surface sampling to be gold-bearing. Specifically, distinct zones of mineralization have been identified along parallel structures corresponding to the primary regional faulting in this region of Mexico (NW-SE) many of which contain historical mine workings and have been sampled and mapped at surface. Minera Alamos is planning to initiate the first phase of exploratory drilling in Q1-2018.
Guadalupe de los Reyes (Minera Alamos) – Engineering underway to transition to gold heap leach development strategy
Optioned in November of 2017 from Vista Gold Corp., Guadalupe de los Reyes is a gold-silver project located in Mexico’s Sierra Madre Range in Sinaloa, three hours from the company’s Mexican office in Culiacan. The main Guadalupe de los Reyes underground mine was operational from the late 1800s to the 1950’s and to date is the most significant source of gold production in the district. It is historically estimated to have produced approximately 500-600,000 ounces of gold and 40 million ounces of silver over its operational life at reported grades of +10 g/t Au and +500 g/t Ag*1.
Most of the historical production was derived from a single section of mineralized structures over a length of approximately 2 km. At least eight other mineralized zones have been identified at site along three structural arms of the same large regional system. In total, the system mineralization has been mapped at surface over a total combined distance of approximately 10 km. Modern drilling was re-initiated at the Guadalupe project area in the 1990s and was targeted at defining significant areas of shallow and lower grade gold/silver mineralization in areas surrounding the historical Guadalupe underground operations.
The immediate goal for Guadalupe de los Reyes is to utilize the extensive in-house technical expertise to evaluate the project’s potential to be developed as a low capital heap leaching operation.
*1The information regarding grade was obtained from historical information (C.W. Vaupell, February 1936 and Minas de San Luis, S.A. de C.V. report based on National Registry records).
Advisors and Legal Counsel
Haywood Securities Inc. is acting as financial advisor to Minera Alamos and its Board of Directors. Gowling WLG is acting as legal counsel to Minera Alamos.
Fort Capital Partners is acting as financial advisor to the Board of Directors of Corex. McCullough O’Connor Irwin LLP is acting as legal counsel to Corex.
About Minera Alamos Inc.
Minera Alamos is an advanced stage exploration and development company. Its growing portfolio of high-quality Mexican projects includes the La Fortuna open pit gold project in Durango and the Guadalupe de los Reyes gold/silver project in Sinaloa. The company is well financed to conduct all of its planned exploration and development activities and continues to pursue additional project acquisitions in Latin America.
Mr. Darren Koningen, P. Eng., Minera Alamos’ President & CEO, is the Qualified Person responsible for the technical content contained in this press release for Minera Alamos under National Instrument 43‑101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
About Corex Gold Corporation
Corex Gold Corp is a Canadian resource company focused on developing its 100% owned Santana flagship property in Sonora State, Mexico, where recent bulk test leaching and development work has resulted in the first gold produced from the property.
Mr. Mel Herdrick, P. Geo., is the Qualified Person responsible for the technical content contained in this press release for Corex Gold under National Instrument 43‑101. Mr. Herdrick has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “Forward‐Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward‐looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: closing of the Arrangement; anticipated benefits of the Arrangement to Minera Alamos, Corex and their respective shareholders; the timing and receipt of required shareholder, court, stock exchange and regulatory approvals for the Arrangement; the ability of Minera Alamos and Corex to satisfy the other conditions to, and to complete, the Arrangement; the anticipated timing of the mailing of Corex’s information circular regarding the Arrangement; the anticipated timing of Corex’s shareholder meeting; membership of the Minera Alamos board post-closing; future mineral production and sales; liquidity, enhanced value and capital markets profile of Minera Alamos; future exploration and growth potential for Minera Alamos, Corex and their respective businesses; and development of the Santana property to commercial scale production.
In respect of the forward‐looking statements and forward-looking information concerning the anticipated completion of the proposed Arrangement and the anticipated timing for completion of the Arrangement, the parties have provided such statements in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the time required to prepare and mail shareholder meeting materials, including the required information circular; the ability of the parties to receive, in a timely manner, the necessary shareholder, court, stock exchange and regulatory approvals; and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement. These dates may change for a number of reasons, including, but not limited to, unforeseen delays in preparing meeting materials; inability to secure necessary shareholder, court, stock exchange and regulatory approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the forward‐looking statements and forward-looking information contained in this news release concerning these times and dates.
These statements reflect the parties’ respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing of the Arrangement including, without limitation, receipt of all necessary shareholder, court, stock exchange and regulatory approvals or consents and lack of material changes with respect to Minera Alamos and Corex and their respective businesses, all as more particularly set forth in the Arrangement Agreement; the synergies expected from the Arrangement not being realized; changes in law; fluctuations in general macro‐economic conditions; fluctuations in securities markets and the market price of Minera Alamos’s common shares; availability of necessary future financing; results of exploration programs; receipt of necessary permitting; economic viability of projects; completion of studies. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although the parties have attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The parties do not intend, and do not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
For Further Information Please Contact: Minera Alamos Inc. Darren Koningen President & CEO Tel: 416-306-0990 Email: dkoningen@mineraalamos.com Website: www.mineraalamos.com Corex Gold Corporation Doug Ramshaw President & CEO Tel: 236-521-0429 Email: doug@corexgold.com Website: www.corexgold.com
- Published in Corex Gold
Inca One Gold Provides Review of Calendar 2017
Momentum Public Relations
Press Release: January 10, 2018
INCA ONE GOLD PROVIDES REVIEW OF CALENDAR 2017
Inca One Gold Corp. has provided an update on the milestones achieved in 2017 and its primary goal of profitability in 2018.
The year 2017 was a turnaround year for Inca One, with significant milestones accomplished as it continued toward its pursuit of profitability and its vision of becoming a leading commercial gold processor in Peru. In its third year of commercial operations, it focused on operating cost reductions, infrastructure upgrades and internal controls.
During 2017, the Chala One plant operated at an average throughput of 65 tonnes per day. Deliveries to Chala One were 22,921 tonnes, up from 15,447 tonnes in 2016, an increase of 48 per cent. Chala processed 23,708 tonnes of material in this year, up from 14,447 tonnes in 2016, an increase of 64 per cent. Gold production for the year was 9,927 ounces, up from 6,682 ounces produced in 2016, representing a 49-per-cent increase. Gross sales were approximately $13-million (U.S.), up from $9.0-million (U.S.) in 2016, an increase of 44-per-cent year over year. The increase in production can be attributed to the company’s skilled operators and having sufficient working capital to purchase ore and pay miners in a timely manner. This working capital was lacking in 2016 due to IGV (value-added tax) audits.
The year’s first milestone occurred in early January, 2017, with the receipt of a beneficial permit, making Chala One one of the few companies in Peru to complete the formalization process. The receipt of the beneficial permit allowed for the successful permitting of the company’s first major infrastructure project: the construction of an electrical power line. The power line was completed in July, and Chala One was connected to Peru’s national power grid in August. As a result, electrical and power cost savings to Chala One are approximately $18,000 (U.S.) per month with this conversion.
Another key infrastructure component was the expansion and upgrading of tailing facilities to increase capacity by approximately 90,000 cubic metres. The capital cost was approximately $313,000 (U.S.) and, at current throughput levels, tailing capacity will last approximately five years. Future expansion may be required sooner as throughput rates increase.
Additionally, to ensure a consistent supply of quality mineral to the processing plant, it was necessary to develop a comprehensive infrastructure of mineral buyers in each gold-rich area of Peru. Inca One’s network of mineral buyers had been using a fleet of leased vehicles to service existing zones and for exploring new zones to determine the viability of mineral supply. During the fourth quarter of 2017, the company negotiated the purchase of a fleet of well-maintained used vehicles for its team on the ground, reducing monthly lease costs by approximately $22,000 (U.S.), contributing to improved cost savings.
While infrastructure was a focus last year, the company also had a noteworthy improvement in production on a year-over-year basis. Ore purchasing, ore processing and gold production were consistent throughout the year and ore-purchasing margins were maintained over comparable periods on a year-over-year basis. Inca One was able to improve production despite an extraordinary rainy season in February, March and April due to the impact of El Nino.
Due to investment in infrastructure, the company’s business cycle has now been reduced from the 45-day turnaround in its first year to the current 21-day operating cycle of ore delivery to gold export. This represents a significant improvement as working capital will no longer be tied up for extended periods of time. Additionally, the back office in Peru is to be congratulated as they have been able to keep monthly IGV submissions and refunds current.
Looking ahead to 2018, the company anticipates further production growth and cost reductions. It has emerged from recent improvements and investments, following three years of consecutive commercial production, right-sized and with a fully integrated gold ore processing plant. Inca One is optimistic about its future and trusts that its foundation is strong and ready for growth.
Results of 2018 annual general meeting
On Dec. 13, 2017, the company held its annual general meeting in Vancouver, B.C. All resolutions were passed by the requisite majority. Grant Thornton LLP, chartered professional accountants, was reappointed as auditor of the company for the ensuing year and shareholders confirmed the company’s stock option plan.
Shareholders voted in favour of setting the number of directors at four and the following incumbent directors were re-elected: Edward Kelly, Bruce Bragagnolo, Rodney Stevens and Adrian Morger.
About Inca One Gold Corp.
Inca One is a Canadian-based mineral processing company. The company’s activities consist of the production of gold and silver from the processing of purchased minerals located in Peru. Peru is the sixth-largest producer of gold in the world and the Peruvian government estimates the small-scale mining sector accounts for a significant portion of all Peruvian gold production, estimated to be valued approximately $3-billion (U.S.) annually. The company purchases its minerals from government registered small-scale mining producers from various regions and processes it at its Chala One milling facility located in Chala, southern Peru.
- Published in Inca One Gold Corp
Albert Mining Inc. Staked 282 Claims Using its Artificial Intelligence Platform
Momentum Public Relations
Press Release: November 21, 2017
Ottawa, Ontario / The Newswire / November 21, 2017 – Albert Mining Inc. (the “Company” or “Albert”) (TSX-V: AIIM), an exploration mining company and a leader in the use of artificial intelligence and advanced knowledge-extraction techniques in the mining sector, is pleased to announce the acquisition of 100 of the 282 claim Ashuanipi gold property covering 141 square kilometers (km2) located 30 km east of Schefferville, Quebec.
Albert has used its proprietary Computer Aided Resource Detection System (CARDS) to stake the best gold targets in the Ashuanipi Sub-Province in Quebec. The work consisted of compiling, processing, and merging available geological, geochemical, geophysical, and topographical data as well as satellite imagery of the Supra-Regional modelling area of 330,900 sq./km. CARDS used 398 variables (magnetic data, lake-bottom sediments and topography) which correspond to
8,264,291 data points at 200 m cell size.
Historic results have previously identified drill hole intersections revealing values of up 2.23 g/t Au over 19.5 meters, 12 km west of the project, and outcrops reaching 171.5 g/t, 8.6 g/t, 4.94 g/t, 1.74 g/t, 1.4 g/t Au, mostly associated with iron formations hosted in the metasediments (International Corona & Sigeom). Approximately 350 rusty zones with various degrees of mineralization were identified in the region (source: International Corona). Many gold anomalies were also identified by analyzing the lake-bottom sediments (source: Sigeom).
Mr. Michel Fontaine, President & CEO of Albert Mining, commented: “I am proud of the progress made in the business model of Albert regarding Exploration. CARDS is a unique computer system that uses powerful algorithms to digitally analyze publicly available and privately owned geological information using an interactive process in constant evolution. Currently, many projects around the world are big in terms of dimension and contain a lot of data (Big Data). Since 2004, CARDS has allowed exploration companies to save significant time and money by identifying areas of focus. The CARDS technology enables companies to reduce the size of their exploration area (in some cases by 97 and to utilize 100 of the data available. Albert is ready to find new deposits.”
The scientific and technical content of this release was approved by Grigor Heba, P.Geo., a qualified person as defined by the National Instrument 43-101.
About Albert Mining Inc. – Where Artificial Intelligence Meets Geology
Albert is a junior mining exploration company with an extensive portfolio of gold, copper and diamond properties in Quebec. Albert also recently acquired all assets from DIAGNOS Inc.’s mining division, including the Computer Aided Resources Detection System (“CARDS”). Albert can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. The Company’s objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining.
For further information, please contact:
Michel Fontaine
President and CEO of Albert Mining Inc.
Telephone: 514-994-5843
Fax: 613-422-0773
Email: michel@albertmining.com
Website: www.albertmining.com
Additional information about the Corporation is available under Albert’s profile on SEDAR at www.sedar.com.
- Published in Albert Mining, Mining, News Home