A Bitcoin Primer
Momentum Public Relations
Blog: March 26 2018
Some of us know a little, some of us know a lot, but most of us haven’t got the foggiest notion of what a Bitcoin or a cryptocurrency is.
If you follow the news, you will have noted that media coverage is increasing. On Thursday March 15th, CNBC reported that the value of global cryptocurrencies fell from US$372.9 billion to US$310.4 billion. According to Digital Trends there are 1,300 cryptocurrencies in existence. Among them are Dash, Ethereum, Litecoin and Plasma.
Investing in them may be a dangerous gamble, even Venezuela has floated a cryptocurrency, the Petro. Financial Post columnist Diane Francis has ranked them on a par with the Bre-X scandal, Canadian Tire money and has advised investors to avoid them like the plague.
The reason for the recent fall in value was mainly twofold, the threat of increasing regulation and the actions of the trustee for Mt Gox a bankrupt Japanese bitcoin clearing house, who flooded the market with bitcoins in an attempt to pay off creditors.
The slide in value was also pushed along by the news that first Facebook in January and then Google in March banned advertising for cyptocurrencies, wallets and ICOs. Highly volatile, the value of bitcoins fell from US$20,000 in 2017 to US$8,219 a bitcoin on March 15th.
Cryptocurrencies are a digital currency. They aren’t backed by any national bank or regulated by any government or financial regulatory agency. Their only value is what you think it is and that may end up being nothing at all or a great deal.
Bitcoins are generated by solving complex mathematical puzzles. A process which makes seeing any real value in them difficult. It is a process which consumes a great deal of electricity. Wallets are applications that store cryptocurrencies on your computer and ICOs are Initial Coin Offerings which take place when a new cryptocurrency is launched.
Along with last week’s fall in cryptocurrency value, other recent news headlines include Plattsburg, New York’s decision to stop selling cheap electricity to bitcoin miners because they have driven the cost of electricity up for other residents and the arrival of a bitcoin mining operation in Sherbrooke, Quebec where Sherbrooke Hydro offers cheap electricity.
Quebec-based Bitfarm says that its Sherbrooke operation will employ up to 250 people. The company has operations in several communities in Quebec’s Eastern Townships. Bitfarm is reportedly spending $250 million to set up its Sherbrooke operation.
Bitcoin miners from as far afield as China have been reported as eyeing Quebec because of its comparatively cheap electrical rates.
All of this was topped by the announcement by Quebec Premier Philippe Couillard that bitcoin miners were not welcome in the province because they didn’t provide any added value for Quebec. Quebec may even decide to deter bitcoin operations by increasing the amount Hydro Quebec charges them for electricity.
It appears that while we were napping and concentrating on real stocks with real products and real business plans that the business of cryptocurrencies has become the object of intense speculation.
American financial regulators have allowed the trading of bitcoin futures. There is even a company, HashChain, trading on the TSXV and OTCQB that along with being an active bitcoin miner, offers tax software targeted at the fast and exciting world of cryptocurrency.
By their very nature cryptocurrencies are shadowy and elusive. Murky because we don’t really know who bitcoin creator Satoshi Nakamoto is, or if he actually ever existed. Nakamoto has said via internet posts that he lived in Japan but the internet server he used was a free one located in Germany.
Even the name is a little confusing. Merriam Webster defines crypto as a “person who adheres or belongs secretly to a party, sect or other group.” The word was coined in 1946 and most commonly used in a compound form, crypto-communist, crypto-fascist, etc.
Crypto in cryptocurrency, instead refers to the fact that transactions on a cryptocurrency network are encrypted, safe and secure.
In 2008 Nakamoto posted a paper on the creation of a cryptocurrency on a cryptographers message board. During 2009 he launched bitcoin. By 2010 Nakamoto had handed bitcoin over to another developer, Gavin Andreson who had helped develop bitcoin technology. Nakamoto stopped posting on bitcoin forums in 2010 and hasn’t been heard of since.
The benefits of a cryptocurrency or rather, the technology behind it could be very large. Blockchain technology promises to make transactions faster and ensure privacy. Bitcoin was initially developed during the 2008 banking crash and subsequent recession.
Some supporters see cryptocurrencies as a cure all for economic woes because cryptocurrencies are not state regulated. Because they are not regulated they can’t be used to provide economic stimulation that in turn devalues currency. Others believe they can eliminate credit card fraud, provide a financial safe haven for people living in war zones and the ability to provide people without bank accounts a safe way to transfer money.
While most of these are laudable desires, the true value in cryptocurrencies probably lies in the development of blockchain technology that allows cryptocurrencies to make fast, safe and easy transactions.
Cryptocurrencies had been dreamed of and worked on since the 1990s but Nakamoto was the first to solve the basic problem which had held development back, how to prevent people from simply cutting and pasting their digital currency again and again. This is called the double spend.
To put it a little more simply, he developed a system that would prevent digital currency fraud. He did this by creating a central registry or ledger that would be maintained by members of the bitcoin community in a variety of locations. Because every ledger entry is checked against other nodes in the network fraud becomes impossible.
The central registry and bitcoins themselves depend on blockchain technology. Cryptocurrencies are based on the idea of making transactions quicker and simpler by bypassing government control of currency. It does this by storing information across a peer to peer network, a blockchain. This can be better understood if you think of the blockchain as an operating system and bitcoin as the application that runs on it.
Bitcoins and for the most part other cryptocurrencies are generated by what is called mining. This is a computer intensive activity whereby a series of computers are strung together to solve a mathematical puzzle. The first “miner” to solve the problem is rewarded with a set number of bitcoins. The amount of electricity this uses globally is equivalent to all the electricity used by Ireland.
Wired has an excellent guide to bitcoins and cryptocurrencies which you can read by following this link. Next week this blog will explore the reasons behind calls for an intense regulatory regime for cryptocurrencies and some of the reasons why some investors won’t touch them with a ten foot pole.
Equitorial Drilling at 100%-Owned Cat Lake Lithium Property, Manitoba
Momentum Public Relations
Press Release: March 19, 2018
Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) (“Equitorial” or “Company”) is pleased to report that the Company has drilled and logged the first hole of its aggressive 1,100 meter drill program at its 100%-owned Cat Lake Lithium Property directly adjacent to the Cat Lake Mineral Project owned by Quantum Minerals Corp.
Drill Program Summary
- – 1,100 m aggressive drill program of several holes
– First hole drilled and logged
– Three areas of interest:
- – Eastward extension of Quantum Minerals’ Irgon Pegmatite presently being explored by Quantum Minerals
– Follow up of 1948 drill hole reported to have encountered 48 feet (~14.63 m) of spodumene ( Manitoba Government assessment file 98073 – not 43-101 compliant ) . No additional drilling in the area was completed.
– Skarn associated with the Cat Lake Mine/Lithium Corp Cat Lake Mine – minimal information on the old mine site
– The drill program is headed up by Carey Galeschuk. P. Geo, a consulting geologist with extensive experience in lithium bearing pegmatites. He also serves as Qualified Person for the purpose of National Instrument 43-101.
- – Eastward extension of Quantum Minerals’ Irgon Pegmatite presently being explored by Quantum Minerals
Cat Lake Lithium Property Highlights
- – Property situated directly east and along strike of Quantum Minerals’ Cat Lake Mineral Project (previously Irgon Lithium Mine) . During 1956-1957, t he Irgon Mine was an underground mining operation for spodumene (one of the hard rock sources for Li). The pegmatite had an historic estimate of 1.25 million tons of ore grading 1.51% Li20 (Mineral Inventory File No. 221).
– Equitorial claim block 150 m from south end of Irgon Lithium Mine shaft and approximately 93m east of the last exposed outcrop of the Irgon Pegmatite and approximately 122 m along
– 48 feet of spodumene bearing quartz were drilled in 1948 – not followed up at the time (Manitoba Assessment File 98073 – not 43-101 compliant )
– Property approximately 180km northeast of Winnipeg, Manitoba
– Excellent infrastructure – Provincial Highway 314 in southeast Manitoba cuts through the property
Please click for a maps of the claims: http://equitorialexploration.com/wp-content/uploads/2018/01/Cat-Lake-Claims-Maps-3.pdf
Cat Lake Mineral Project
QMC Quantum Minerals Corp News Release September 7, 2017 reported:
“Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and reported a historical resource estimate of 1.2 million tons grading 1.51% Li20 over a strike length of 365 meters and to a depth of 213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical resource is documented in a 1956 Assessment Report by Bruce Ballantyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment Report No. 94932). This historical estimate is believed to be based on reasonable assumptions and the company/QP has no reason to contest the document’s relevance and reliability.”
The property lies within the east-trending Mayville-Cat-Euclid Greenstone Belt (“MCEGB”) located along the northern contact of the Maskwa Lake Batholith. This northern greenstone belt has a similar structural geological setting as the Bird River Greenstone Belt (“BRGB”) which is located along the southern contact of the same batholith, and is parallel to and approximately 18km to the south of the MCEGB. The property is located 20km north of the Tanco Mine Property. The BRGB hosts the world-class Tanco rare element-bearing pegmatite dike as well as numerous other lithium bearing pegmatites. The Tanco Mine went into production in 1969 and produced tantalum, cesium and spodumene (lithium). It was previously North America’s largest and sole producer of spodumene (Li), tantalite (Ta) and pollucite (Cs).
About Equitorial Exploration Corp
Equitorial is aggressively developing four 100%-owned, high-potential, lithium projects in North America. The Little Nahanni Pegmatite Group (LNPG) is a 43-101 compliant, hard rock, lithium property in the NWT. The Cat Lake Lithium Property in Manitoba, Canada is directly adjacent to the Cat Lake Mineral Project, a highly prospective Lithium property. The Tule and Gerlach Lithium Brine Projects are located in lithium-rich Utah and Nevada within easy reach of the Tesla Gigafactory #1. All four projects have demonstrated highly encouraging grades.
For more information please visit: http://equitorialexploration.com/
On behalf of the Board of Directors
EQUITORIAL EXPLORATION CORP.
_____________________
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule, Gerlach and Little Nahanni Pegmatite Project: statements pertaining to the ability of Equitorial Exploration Corp.(“EXX”); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for EXX to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by EXX in light of its experience and perception of current and expected future developments, as well as other factors that EXX believes are appropriate in the circumstances. Many factors could cause EXX’s results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
- Published in Equitas Resources
Alliance Mining Now Drilling Packsack Gold Property, Bissett Gold Camp, Manitoba
Momentum Public Relations
Press Release: March 15 2018
Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) has commenced drilling on its Packsack gold property located in Manitoba’s Bissett gold camp. The Packsack property forms part of the company’s Red Rice Lake gold project. Wynne Mining Services has been contracted to undertake the drill program which will be supervised by Alliance’s consulting geologist William C. Hood P. Geo. The approximately 1,000 metre drill program will consist of at least three holes, two of which will target an area under the known mineralization plus a shorter hole to target the upper part of the big Dome Vein in order to confirm the grade/width of the known mineralization. This is the first significant drill program to test under the 500 ft (152 m) level exploration drift on the Packsack property.
To view the graphic in its original size, please click here
The Packsack property hosts several gold-bearing veins within a conjugate fracture set adjacent to the Red Rice shear zone. Previous exploration on the Packsack property has been focused on the Big Dome Vein, with a shaft to 525 ft (160 m) and 2867 ft (874 m) of drifting and crosscutting on 4 levels down to 500 ft (152 m), all completed between 1936 and 1940. 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.
To view the graphic in its original size, please click here
Alliance Mining has an option to acquire 100 per cent of the Red Rice Lake property located in the centre of the Bissett gold camp in Manitoba. The property is located close to the town of Bissett, Man., and just four kilometres south from Klondex Mines’ True North gold mine. 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 Lake belts in Northwestern Ontario.
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. Please call us directly.
William C. Hood, P.Geo, a qualified person as defined by National Instrument 43-101, is responsible for the technical information contained in this news release.
To see the official and full News Release with images visit www.AllianceMining.com
ON BEHALF OF THE BOARD
Christopher R. Anderson
President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations:
Antony Claydon: 604-445-5421
E-mail: ir@alliancemining.com
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Alliance Mining Corp.
888 Dunsmuir Street – Suite 888,
Vancouver, B.C., V6C 3K4
To view the original release (with media), please click here
- Published in Alliance Mining
Mining Industry Turnaround Showcased at PDAC 2018
Momentum Public Relations
Blog: February 28th
The premiere mining convention in the world is about to take place
in Toronto as the Prospectors and Developers Association of
Canada, PDAC, holds its annual convention from March 4-7, 2018.
As mining conventions go, PDAC attracts the largest numbers in
the world with more than 24,000 attendees expected this year.
PDAC has a domestic and international membership 7,500 strong.
Canadian mining companies operate in more than 100 countries
and no wonder. Canadians are good at mining, it is, not to put too
fine a point on it, one of our bedrock industries.
Internationally, mining companies like to list on the TSX because
after the C$ 6 billion Bre-X gold scandal of the 1990s and the
resulting mining sector slaughter, Canada cleaned up its regulatory
act and introduced NI 43-101, a mechanism that fosters
transparency in what can and cannot be said about a mining claim.
NI 43-101 helped eliminate fraud and boiler room scams in the
industry and made the Toronto exchange the place for listing and
raising capital. As a result more than half the mining companies in
the world list on the TSX and TSXV.
Last year almost 600,000 people worked in the Canadian mining
industry and the dollar value was in excess of C$60 billion. In
terms of the social fabric, Canadian mining employs more
Indigenous Canadians than any other industry.
Canadian governments recognize the importance of mining to the
Canadian economy. British Columbia has just announced a 12
member task force made up from the mining industry, Indigenous
community and labour to assess the health and vitality of the
industry in British Columbia and make proposals on how to
provide job security during commodity price fluctuations. In
British Columbia the mining industry generates 30,000 jobs and
generates C$6 billion. No small potatoes.
Mining is important to industry. Without iron ore, for instance, we
wouldn’t have steel. Moving forward, the next great industrial
revolution, from petroleum to renewable energy, won’t be able to
take place without the mining industry exploring for secure sources
of cobalt, lithium and graphite, new generation rechargeable
battery metals.
And then there is graphene, a material that is refined from graphite
which is much thinner and much stronger than steel. Among the
remarkable products that graphene can be used to produce is a
building coating that not only generates and supplies all the
electricity used to power a building but can also be used to change
the colour of a building. Imagine your office going from green
when it is open and to red when it is closed.
After going through an ugly period where financing was difficult
for majors and almost impossible for juniors, explorers and
developers are beginning to find project financing.
Last year, according to a story in the Globe and Mail’s February
27, 2018 issue, Brian Milner wrote that 20 mining companies went
public on Canadian exchanges and that roughly C$830 million was
raised for mining companies during 2017. Mining companies
provided more than half of the new issues introduced last year. The
amount invested, C$830 million, was the largest sum invested in
seven years.
At the moment, the mining industry seems poised for takeoff.
Commodity prices for base metals have improved. Major
companies that overspent on resources have largely put their
financial houses in order. Because prospecting and exploration
were put off during the recent past, mining companies are now
looking to find new reserves and build up project pipelines.
During mining’s recent awful bad day that went on for years,
prominent newsletter writers continuously wrote that it was time
for the industry to clean up its act and reduce the number of
zombie companies on the exchange.
A typical zombie company would be a junior that has a good story
and not much else, not the skill or the financing to advance any
project that it does hold. By listing on the exchange and raising
money it dilutes the capital available for juniors that have the skill
and ability to develop a project.
Doug Ramshaw, the President and CEO of Corex Gold, (TSXV:
CGE) believes that the industry needs more mergers like the one
which Corex is currently engaged in. Corex and Minera Alamos
are in the merger process in what Ramshaw describes as a perfect
fit.
The merged company will operate under the Minera Alamos name
for the time being and have three advanced stage gold projects
under development. One, Corex’s Santana property is expected to
be in full production by the end of the year producing 25-35,000
ounces of gold a year.
The resulting revenue will be used to help finance production at
Minera Alamos’ two advanced stage projects, Fortuna and
Guadelupe dos Reyes. All three projects will be processed using
low-capex heap leaching and Ramshaw estimates that when all
three projects are up and running annual production will hit
150,000 ounces of gold.
By using low cost heap leaching the mines will be profitable even
if the price of gold falls back. Merging the two companies will
produce one that has a market cap in the C$50 million range, one
that will be able to attract any financing it needs going forward.
If you feel like placing a bet on a junior gold exploration company
you may want to consider Alliance Mining, (TSXV: ALM) which
is starting to consolidate land claims in the Bissett gold camp in
southeastern Manitoba. The company already has three highly
prospective targets, including Packsack, a past producing gold
mine.
The best place to find a gold mine is next to another gold mine and
Packsack is four km away from Klondex’s True North Mine and
mill complex. More than 1.7 million ounces of gold have been
produced at the Bissett-Red Rice Lake gold camp.
On the other hand you may also be interested in investing in the
future. Equitorial Explorations, (TSXV: EXX) is currently
advancing three significant lithium properties.
You can also invest in the future of mining by investing in Albert
Mining, (TSXV: AIIM). Albert is named after Einstein because the
company has an AI powered exploration system called CARDS
which it using to find drill targets.
Canada’s mining industry is back and attracting smart money. If
you do invest remember to do your own due diligence, caveat
emptor.
- Published in Blog
Deep-South agreement for St. John property
Momentum Public Relations
Press Release: February 28 2018
The TSX Venture Exchange has accepted for filing documentation in connection with an asset purchase agreement dated Dec. 18, 2017, between the company and Sparrowhawk Gold Ltd., whereby the company has acquired a 90-per-cent interest in the St. John project, neighbouring the Kokoya gold mine situated northeast of Liberia. Consideration is as follows:
- Year 1, $20,000 (U.S.) cash payment and 250,000 common shares;
- Year 2, $20,000 (U.S.) cash payment and 250,000 common shares;
- Year 3, $35,000 (U.S.) cash payment and 250,000 common shares;
- Year 4, $50,000 (U.S.) cash payment and 250,000 common shares;
- On the confirmation National Instrument 43-101 inferred resources of 350,000 ounces gold (Au) on the property, 250,000 common shares of issuer will be issued to Sparrowhawk;
- On the confirmation NI 43-101 inferred resources of 750,000 ounces Au on the property, 500,000 common shares of issuer will be issued to Sparrowhawk;
- On the confirmation NI 43-101 inferred resources of 1.5 million ounces Au on the property, 500,000 common shares of issuer will be issued to Sparrowhawk;
- Sparrowhawk shall be entitled to a production bonus of $1-million (U.S.), to be paid 60 days after the day of commercial production commencement;
- Sparrowhawk shall be entitled to hold a 1.5-per-cent net smelter return (NSR) royalty calculated on 100 per cent of production from the property; Deep-South shall hold an option to buy back one-half of the NSR by making a cash payment of $500,000 to Sparrowhawk at any time.
- Published in Deep South Resources Inc.
Crystal Lake gets TSX-V OK for Ont. claims purchase
Momentum Public Relations
Press Release: February 27 2018
PROPERTY ASSET AGREEMENT APPROVED AS CRYSTAL LAKE TARGETS RAINY RIVER DISTRICT FOR NEW NICKEL-RICH SULPHIDE DISCOVERIES
The TSX Venture Exchange has accepted for filing a purchase agreement dated Sept. 28, 2017, between Crystal Lake Mining Corp. and Emerald Lake Development Corp., a private Ontario company, whereby Crystal Lake has acquired certain mineral rights subject to a 2-per-cent net smelter return located in the Rainy River district near Emo, Ont.
As consideration for 100 per cent of the mineral rights, Crystal Lake will pay $50,000 on closing and issue 10.5 million common shares of the company. Significantly, the vendor has agreed to an 18-month voluntary hold period on selling the shares issued in connection with the transaction. For further information, please refer to the company’s news release dated Oct. 5, 2017.
The transaction is arm’s length in nature, and there are no finders’ fees.
The six separate prospective claim blocks that have been acquired are targeting nickel, copper, cobalt and platinum group minerals.
Crystal Lake is rapidly approaching the start of its exploration/drilling program and eagerly anticipates updating shareholders regarding its plans in the very near future.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through new nickel-rich sulphide discoveries in the underexplored Rainy River district of Northern Ontario using technical excellence in exploration target development and technologies.
We seek Safe Harbor.
- Published in Crystal Lake Mining
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.
InvestmentPitch Media has produced a “video” which describes this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Alliance Mining” in the search box.
Cannot view this video? Visit:
http://www.investmentpitch.com/video/0_meee8fwb/Alliance-Mining-TSXVALM-received-drill-permit-for-its-upcoming-drill-program-on-its-Packsack-gold-property
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
Alliance Mining Receives Drill Permit for Packsack Gold Property, Bissett Gold Camp, Manitoba
Momentum Public Relations
Press Release: February 22 2018
Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the
“Company”) has received a drill permit for its upcoming drill program on its Packsack gold
property (part of the company’s Red Rice Lake gold property in Manitoba’s Bissett gold camp).
The Packsack property hosts several gold-bearing veins within a conjugate fracture set adjacent
to the Red Rice shear zone. Previous exploration on the Packsack property has been focused on
the Big Dome Vein, with a shaft to 525 ft (160 m) and 2867 ft (874 m) of drifting and
crosscutting on 4 levels down to 500 ft (152 m), all completed between 1936 and 1940. 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.
Taken February 20 2018 – Marking Proposed Packsack Drill hole #1
“We are looking forward to receiving drill results from this promising gold property’ said
Christopher Anderson, President of Alliance Mining Corp. “This property has never been
explored below the shaft that was sunk in the 1930’s.”
Alliance is anticipating its drill program will commence in the near future. The company 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 Mining has an option to acquire 100 per cent of the Red Rice Lake property located in
the centre of the Bissett gold camp in Manitoba. The property is located close to the town of
Bissett, Man., and just four kilometres south from Klondex Mines' producing True North gold
mine. 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.
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. At present Alliance is actively working with its Manitoba based geological team to
prepare for its upcoming exploration program. Further information is available on Alliance’s
website at www.alliancemining.com.
William C. Hood, P.Geo, a qualified person as defined by National Instrument 43-101, is
responsible for the technical information contained in this news release.
ON BEHALF OF THE BOARD
“Christopher R. Anderson”
President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
- Published in Alliance Mining
Alliance Mining Initial Payment to Tiberius Gold Corp.
Momentum Public Relations
Press Release: February 20
Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) is pleased to announce it has made the first payment of $250,000.00 by issuing 5 million common shares of its capital to Tiberius Gold Corp. in connection with the option agreement between Alliance Mining Corp. and Tiberius Gold Corp. Alliance may acquire 100 per cent of Tiberius’s property located in the centre of the Bissett gold mine camp in Manitoba. Under the agreement, Alliance may earn in a 100-per-cent interest in the property by making certain staged cash payments and/or share payments of common shares in the capital of Alliance to Tiberius over a four-year period equal to a total of $1.25-million as follows: (i) $250,000 in cash and/or common shares on or before 90 days of the TSX Venture Exchange’s approval of the transaction; (ii) $250,000 in cash and/or common shares on or before the first anniversary of the approval date; (iii) $250,000 in cash and/or common shares on or before the second anniversary of the approval date; $250,000 in cash and/or common shares on or before the third anniversary of the approval date; and $250,000 in cash and/or common shares on or before the fourth anniversary of the approval date.
The 5 million shares paid to Tiberius Gold Corp. are subject to a 4 month statutory hold period in accordance with applicable securities laws.
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. At present Alliance is actively working with its Manitoba based geological team to prepare for its upcoming exploration program.
Alliance Mining has an option to acquire 100 per cent of the Red Rice Lake property located in the centre of the Bissett gold camp in Manitoba. The property is located close to the town of Bissett, Man., and just four kilometres south of Klondex Mines’ producing True North gold mine.
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.
ON BEHALF OF THE BOARD
Al Beaton PEng
Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations:
Antony Claydon: 604-445-5421
E-mail: ir@alliancemining.com
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Alliance Mining Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
To view the associated document to this release, please click on the following link:
public://news_release_pdf/AllianceMining02202018.pdf
To view the original release, please click here
Source: Alliance Mining Corp. (TSX Venture:ALM)
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- Published in Alliance Mining
Arctic Star Announces New Kimberlite Discovery in Finland
Momentum Public Relations
Press Release: February 20, 2018
Arctic Star Exploration Corp. (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (WKN: A2DFY5) (“Arctic” or the “Company”) is pleased to announce a new kimberlite discovery as part of its ongoing diamond exploration program on its 100% owned Timantti Diamond Project in Finland (the “Project”). The kimberlite is near surface under very thin glacial overburden which was discovered in four separate 1 metre deep excavator pits all containing kimberlite. Roy Spencer, Country Manager, has named this new kimberlite discovery “Grey Wolf”. The new discovery is immediately being followed up with diamond drilling.
Arctic Star has collected a sample of approximately 150kg with an excavator for analysis, to establish whether this kimberlite body is diamondiferous. The Company is conducting two separate tests, one for diamonds using caustic fusion and a second separate test for kimberlite indicator minerals and mineral chemistry. The discovery is the result of a series of excavator pits in the same area of the Wolf kimberlites following up on the results of the on-going ground geophysical surveys.
Geophysical surveys on the Project are on-going and have located multiple new kimberlite drill targets which will be followed up with the excavator and or diamond drilling. The current drill program has just commenced, and the Company will continue to release material findings as the ongoing campaign progresses. A drill is immediately being mobilized to the new Grey Wolf discovery.
The Qualified Person for this news release is Roy Spencer, Fellow AUSIMM, a Geologist of over thirty years’ experience in diamonds.
About Arctic Star
The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The project is located approximately 450km SW of the operating Grib Diamond Mine in Russia. Arctic is commencing its exploration in Finland on the Timantti Project, where two diamondiferous kimberlites may represent the first finds in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap).
Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
Patrick Power, Executive Chairman
+1 (604) 218-8772
Neither the 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.
Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that the Timantti Project transaction is a pre-eminent opportunity.
- Published in Arctic Star Exploration