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
Crystal Lake enters new deal for L1, L5 properties
Momentum Public Relations
News Release: January 30, 2018
Crystal Lake Mining Corp.(CLM:V) has entered into an agreement with Emerald Lake Development Corp. (ELD), which will create a more favourable path to 100-per-cent ownership of the L1 and L5 properties, both in the Chapple township, district of Rainy River. The L1/L5 agreement, which will supersede and replace all prior agreements concerning these properties, will allow the company to acquire a 100-per-cent interest in the properties on the terms fully disclosed in its most recent management’s discussion and analysis at Sept. 30, 2017. This may be viewed by visiting SEDAR.
The company’s new website is currently under construction and is expected to be operational shortly with up-to-date corporate and geological information.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a mineral exploration/development company focused on creating value through the exploration and development of its Ontario and B.C. mineral properties.
- Published in Crystal Lake Mining, Mining
Albert Mining Inc. Announces Results of Chapais Drill Program in Quebec
Momentum Public Relations
Press Release: January 24
Albert Mining Inc. (the “Company” or “Albert”) (TSX-V: AIIM), a mining exploration company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques in the mining sector, and Everton Resources Inc. (TSX-V: EVR) are pleased to announce results from their recent drilling campaign on the Chapais property which is situated immediately west of the Springer Copper Mine at Chapais, Quebec.
The drilling tested copper targets generated by Albert Mining’s proprietary CARDS 2D (Computer Aided Resources Detection System) system: The first hole (CHA-17-10) investigated Target A located at the hinge of a large fold which mimics the structural context at the nearby (3 km) Springer Mine. The two other holes (CHA-17-11 and CHA-17-12) were positioned on Target C located two kilometers to the northwest (Table 1). The core was logged by visual description and spot-checked for multi-elements by portable XRF. Selected core segments 0.5 to 1 meter in length were split and submitted to ALS Minerals for gold determination by Fire-Assay with AA finish, and for other elements by ICP-MS after partial digestion by aqua regia.
Table 1. Drill hole data.
Hole | Longitude | Latitude | Azm | Dip | Length |
id | (WGS 1984) | (?) | (?) | (m) | |
CHA-17-10 | 74? 52′ 40” W | 49? 48′ 05” N | 178 | -50 | 197 |
CHA-17-11 | 74? 54′ 07” W | 49? 48′ 40” N | 170 | -50 | 237 |
CHA-17-12 | 74? 54′ 07” W | 49? 48′ 40” N | 340 | -50 | 237 |
total | 671 |
The first hole intersected two one meter-thick (along core axis) mineralized zones assaying 1.61% Zn; and 1.74% Zn, and 0.59% Cu, respectively from 158.4 m to 159.4 m and 190.3 m to 191.3 m. These Zn – Cu values are associated with sulfidic and graphitic horizons in intensely folded fine-grained sediments of the Blondeau Fm. which locally shows a high zinc background (1000 – 2000 ppm). The first hole returned slightly anomalous gold values of 0.142 g/t Au over 1 m and 0.128 g/t Au over 0.5 m (along core axis), associated with semi massive sulfides. In the two last holes, pyroxenitewas observed to alternate with metasediments and volcanic flows of ultramafic affinities.
In addition to base metals, the Chapais property offers a strong potential for gold as exemplified by an historical reverse circulation drill hole that returned 6.29 g/t Au from a till sample (GM46158).
The scientific and technical content of this release was approved by Remi Charbonneau, P.Geo., a qualified person as defined by the National Instrument 43-101.
To quote Mr. Michel Fontaine, President & CEO of Albert Mining; “The encouraging results obtained from the short drilling campaign on the Chapais property will be followed by detailed IP geophysic surveying and additional till sampling”.
About Albert Mining Inc.
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
- Published in Albert Mining, Artificial Intelligence, Mining, Technology
Blue Moon Quoted on Pink Sheets and DTC Eligible; Positive Impact From US Corporate Tax Rate Reduction
Momentum Public Relations
Press Release: January 23
Blue Moon Zinc Corp. (TSXV: MOON; US OTC: BMOOF) (the “Company“) is pleased to report that the common shares of the Company are now quoted for trading in the United States on the OTC Pink Sheets under the trading symbol BMOOF. In addition, the Company’s common shares are eligible for delivery and depository services of The Depository Trust Company (the “DTC”) to facilitate electronic settlement of transfers of its common shares in the United States. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and greatly reduces transactional costs for participating stock brokerages. Investors can find the current Canadian financial disclosure of the Company on www.sedar.com.
Effective January 1, 2018, corporate tax rates in the United States were reduced from 35% to 21%, among other changes favoring US businesses. The Company’s Blue Moon zinc deposit is domiciled in the US and the corporate tax reduction is expected to be beneficial to the project and the Company’s Preliminary Economic Assessment (“PEA”) expected to be released in late Q1 2018.
Patrick McGrath, Chief Executive officer, stated, “The US quotation with DTC eligibility should enhance and simplify trading of our shares in the US. The Company’s Blue Moon Zinc deposit is based in the US and we believe being quoted and tradable in the US is complementary. We also welcome the recent US corporate tax reduction to 21% which we believe will improve the economics in the upcoming PEA”
About Blue Moon
The 100% owned Blue Moon polymetallic deposit has a Mineral Resource estimate of 3.7 million indicated tons with a grade of 8.3% zinc equivalence including approximately 377 million pounds of zinc and 4.1 million inferred tons with a grade of 7.8% zinc equivalence including approximately 395 million pounds of zinc with significant credits of copper, silver and gold. The resource is open at depth and along strike and historical metallurgical testing indicates excellent recovery and a clean zinc concentrate. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.bluemoonmining.com) and filed on SEDAR on November 13, 2017. The Company plans to advance the Blue Moon project through to feasibility, permitting and ultimately production.
Qualified Persons
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
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. Resource estimates included in this news release are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions set forth in the relevant technical report and otherwise, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for zinc, the results of future exploration, uncertainties related to the ability to obtain necessary permits, licenses and titles, changes in government policies regarding mining, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The securities referenced in this news release have not and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
SOURCE Blue Moon Zinc Corp.
View original content: http://www.newswire.ca/en/releases/archive/January2018/23/c2491.html
Contact:
Patrick McGrath, CEO, 1-832-499-6009, pmcgrath@bluemoonmining.com; For additional information related to communications, media relations and investor relations please contact: Terry Bramhall, 1-604-833-6999, tbramhall@bluemoonmining.com
Albert Mining Inc. Announces the Closing of the 2nd Tranche of its Non-Brokered Private Placement
Momentum Public Relations
Press Release: January 19, 2018
Albert Mining Inc. (“Albert” or “Corporation”) (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 closing of the second tranche of its non-brokered private placement of 10 million units at $0.05 per unit comprised of one common share and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder thereof to acquire one additional common share in the capital of the Corporation at a price of $0.07 per common share for a period of twenty-four (24) months following the closing of the Offering for gross proceeds of $500 ,000.
In connection with the 2nd tranche of the private placement, the Corporation is paying a finder’s fee of $2,100 and issuing 42,000 finder’s warrants. Each finder’s warrant entitles the holder to purchase one additional common share in the capital of the Corporation at a price of $0.065 per common share for a period of twenty-four (24) months expiring January 19, 2020.
An insider of the Corporation has participated in the 2 nd tranche of the private placement by purchasing 2.4 million units.
All securities issued in the private placement are subject to a four-month hold period and to all necessary regulatory approvals, including the approval of the Exchange.
The proceeds of the financing will be used for exploration and working capital.
About Albert Mining Inc.
Albert is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec. Albert also recently acquired 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 Company is available under Albert’s profile on SEDAR at www.sedar.com .
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
- Published in Albert Mining, Artificial Intelligence, Mining
Crystal Lake Closes Private Placements
Momentum Public Relations Press Release: January 17, 2018
Crystal Lake Mining Corporation (the "Company") is pleased to announce that it has closed the $500,000 f --->low-through private placement announced on October 26, 2017 and referenced in a press release on November 27, 2017 and t --->he $400,000 non-flow-through private placement announced on October 25, 2017, and referenced in press releases dated Nov --->ember 6, 2017 and November 27, 2017. The Company has issued 2,000,000 flow-through units ("FT Units") for gross proceeds of $500,000. Each FT Unit consists o --->f one common issued at $0.25 per share and one-half common share purchase warrant (each whole share purchase warrant bei --->ng a "Warrant"). Each Warrant may be exercised by the holder to purchase an additional common share at a price of $0.30 --->For 18 months from closing. The Company has also issued 2,000,000 non-flow-through units ("NFT Units") for gross proceeds of $400,000. Each NFT Unit ---> consists of one common share issued at $0.20 per share and one common share purchase warrant (a "Warrant"). Each Warran --->t may be exercised by the holder to purchase an additional common share at a price of $0.25 For 18 months from closing. The proceeds from the private placements will be used to advance exploration activities at the Company's Canadian proper --->ties and for general working capital. Finder's fees of $4,200 and 21,000 Warrants were paid in connection with the NFT Unit issuances and $14,752.50 and 59,01 --->0 Warrants were paid in connection with the FT Unit issuances. The NFT Units have a four-month hold period expiring on April 4, 2018 and the FT Units have a four-month hold period exp --->iring on April 12, 2018. About the Company Crystal Lake Mining Corporation is a mineral exploration/Development company focused on creating value through the explo --->ration and development of its British Columbia and Ontario mineral properties. On behalf of The Board of Directors of Crystal Lake Mining Corporation. Alphonse Ruggiero, Director/CFO This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncerta --->inties not under the control of Crystal Lake Mining Corporation which may cause actual results, performance or achieveme --->nts of Crystal Lake Mining Corporation on to be materially different from the results, performance or expectation implie --->d by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ve --->nture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by ma --->nagement.
- Published in Crystal Lake Mining, Mining
Deep-South Discloses a NI 43-101 Indicated Resource of 457 MT @ 0.31% Cu and an Inferred Resource of 342 MT @ 0.29% Cu and METS is Near to Completing a Preliminary Economic Assessment (PEA) on Haib Copper in Namibia
Momentum Public Relations
Press Release: January 16, 2018
Deep-South Resources Inc. (” Deep-South ” or ” the Company “) (TSX-V: DSM) has disclosed today its independent NI 43-101 Resource estimation on the Haib Copper project in Namibia. Deep-South has also announced that Midas Engineering and Technical Services of Australia (“METS”) has been appointed to complete a Preliminary Economic Assessment (“PEA”), that should be available by the end of February 2018.
Mr. Pierre Leveille, President & CEO of Deep-South stated that: “With the initial resource estimation completed and the PEA nearly completed, we will now start to evaluate our options and start planning a pre-feasibility study, including further drilling and metallurgy test work.”
Highlights of the Haib Mineral Resource estimate, prepared for Deep-South by P & E Walker Consultancy and Obsidian Consulting Services, both of South Africa, in accordance with the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves:
Table-1: C lassified mineral resources of the Haib Project at a 0.25% Cu cut-off grade:
Resource Class | xMillion Tonnes | Cu(%) | Contained Cu x billion lbs |
Indicated | 456.9 | 0.31 | 3.12 |
Inferred | 342.4 | 0.29 | 2.19 |
Notes:
- 1. Dean Richards of Obsidian Consulting Services, a Member of the Geological Society of South Africa and Professional Natural Scientist (Pr. Sci. Nat) with the South African Council for Natural Scientific Professions (SACNASP), estimated the Mineral Resources under the supervision of Peter Walker of P & E Walker Consultancy, both of whom are the Qualified Persons for the Mineral Resource Estimates. The effective date of the estimate is January 15, 2018. Mineral Resources are estimated using the CIM Definition Standards for Mineral Resources and Reserves (2014).
- 2. Reported Mineral Resources contain no allowances for hanging wall or footwall contact boundary loss and dilution. No mining recovery has been applied.
- 3. Rounding as required by reporting guidelines may result in apparent differences between tonnes, grade and contained metal content.
Table 2. Haib Copper Indicated Mineral Resources, Sensitivity Cases.
%Cu Cut-off | xMillion Tonnes | Cu(%) | Contained Cu x billion lbs |
0.20% | 904.8 | 0.27 | 5.39 |
0.25% | 456.9 | 0.31 | 3.12 |
0.30% | 219.8 | 0.36 | 1.74 |
Table 3. Haib Copper Inferred Mineral Resources, Sensitivity Cases.
%Cu Cut-off | xMillion Tonnes | Cu(%) | Contained Cu x billion lbs |
0.20% | 686.2 | 0.26 | 3.93 |
0.25% | 342.4 | 0.29 | 2.19 |
0.30% | 109.8 | 0.34 | 0.82 |
This Haib Copper Mineral Resource has been defined by diamond core drilling covering a total surface area of some 2.6 square kilometres. The mineral resource classification is closely related to data proximity. Topographic elevations within the mineral resource area vary from 320m to 640m above mean sea level and average 480m above mean sea level. Indicated resources are constrained between the variable topographic surface and a horizontal level which is 75m above mean sea level and within which the majority of the drill and assay data are constrained. Inferred resources are laterally constrained by the last line of drill holes and extend vertically from the horizontal surfaces defined by the +75m and -350m above mean sea level ( a block of 425m thickness) within which there is a lesser data set derived from drilling.
Mineralization is open near surface and at depth to at least 800 metres deep. The Mineral Resource estimate is based on the results from approximately 66,500 metres of drilling in 196 holes. The most recent drilling data comes from Teck Resources drilling programs totalling 14,500 metres (2010 & 2014) and from re-assaying a part of the 164 historical drill cores which are well preserved on site. Indicated Resources are defined by a drill grid of 150 metres by 150 metres, while Inferred Resources are defined by a drill grid of 300 metres by 150 metres.
The Haib Copper exploration licence provides significant potential for resource expansion, since there is known, but poorly drilled and assayed, mineralisation beyond the drill grid boundaries and below the main mineralised body (which covers some 2 square kilometres of surface area), where a few drillholes from 75m above mean sea level to -350m above mean sea level (i.e. a thickness of 425m) have shown that mineralisation is present. The deepest drillhole did not pass out of mineralised material. In addition (see map below), there are 5 satellite mineralised target areas surrounding the main Haib porphyry body which still require further evaluation .
Map 1 – The location of the Haib porphyry deposit and satellite targets within the exclusive prospecting licence area.
Mr. Peter Walker of P & E Walker Consultancy is the main Qualified Person for the 43-101 resource estimation report, which has an effective date of January 15, 2018. A technical report will be filed on SEDAR at www.sedar.com and on the Deep-South website at www.deepsouthresources.com shortly after the issuance of this news release.
Preliminary Economic Assessment underway
With the Haib Copper resources estimate completed, Deep-South has retained Midas Engineering and Technical Services of Perth, Australia, to prepare a Preliminary Economic Assessment (PEA) for the further development of the Haib Copper deposit. The PEA, which is expected to be completed before the end of February 2018, concentrates on establishing the economic parameters of potential mining operations at Haib.
METS has examined the latest metallurgical process technology and reviewed the historical test work to develop conceptual ideas for processing options. METS is using the results of their processing study and the Resource Estimates completed by P & E Walker Consultancy and Obsidian Consulting Services.
The METS Engineering report will consider various mineral processing and metallurgical options that will include, amongst others:
- – Comminution
– Heavy Liquid Separation
– Colorimetric Sorting
– Bio-Heap Amenability
– Flotation
Four recovery options are considered for economic evaluation:
- – Option 1: Ore sorter upgrading, dense media upgrading, flotation and heap leaching of the tails.
- – Option 2: Two-stage dense media upgrading, flotation and heap leaching of the tails.
- – Option 3: Ore sorter upgrading and heap leaching of the upgraded material.
- – Option 4: Whole ore heap leaching.
“The Haib Copper PEA will allow Deep-South’s technical team and consultants to maximize opportunities for project enhancements as we move the Haib Copper Project forward,” said Mr. Leveille.
Quality Control and Assurance and data verification
The independent qualified persons for the Haib Copper Mineral Resource estimate are Mr. Peter Walker of P & E Walker Consultancy and Mr. Dean Richards of Obsidian Consulting Services.
Obsidian Consulting Services conducted a review of the QA/QC programme implemented by Teck using the certificates of analysis received from Acme Labs and provided by Teck. This review compared the results of field duplicates, blanks as well as the various standards utilised with respect to Cu and Mo.
The design of Teck’s drilling programme, quality assurance / quality control programme and the interpretation of results were under the control of Teck’s geological staff. The QA/QC programme is consistent with industry best practices. Drill core is logged and cut onsite, with half-core samples prepared at Analytical Laboratory Services, Windhoek, Namibia. Prepared samples are shipped to Acme Analytical Laboratories, Vancouver, Canada for appropriate base metal assaying and gold fire assaying techniques. All analytical batches contain appropriate blind standards, duplicates and blanks inserted at regular intervals to independently assess analytical accuracy and precision.
Mr. Walker and Mr. Richards reviewed the sample chain-of-custody, quality-assurance and quality-control (QA/QC) procedures, and the accreditations of analytical laboratories used by Teck. The QPs are of the opinion that the procedures and QA/QC are acceptable to support Mineral Resource estimation. Mr. Walker also audited the assay database, core logging and geological interpretations and found no material issues with the data as a result of these audits.
In the opinion of the QPs, the data verification programs undertaken on the geological and assay data collected from the Haib Copper support the geological interpretations and the analytical and database quality, and the data collected, can support Mineral Resource estimation.
Qualified Persons
Peter Walker B.Sc. (Hons.) MBA Pr.Sci.Nat. of P & E Walker Consultancy is the main author of the 43-101 resource estimation report and is responsible for the technical part of this press release, and is the designated Qualified Person under the terms of National Instrument 43-101.
Mr. Dean Richards Pr.Sci.Nat. , MGSSA – BSc. (Hons.) Geology, of Obsidian Consulting Services is the contributing author of the 43-101 resource estimation report and is a Qualified Person under the Terms of the National Instrument 43-101.
About Deep-South Resources Inc.
Deep-South Resources Inc. is a mineral exploration company largely held by Namibian shareholders and Teck Resources Ltd, which holds about 35% of Deep-South share capital. Deep-South is actively involved in the acquisition, exploration and development of major mineral properties. Deep-South currently holds 100% of the Haib Copper project in Namibia, one of the largest copper porphyries in Africa. Deep- South’s growth strategy is to focus on the exploration and development of quality assets, in significant mineralized trends, c los e to infrastructure, in politically stable countries.
More information is available by contacting Pierre Leveille, President & CEO at
+1-819-340-0140 or at: info@deepsouthresources.com or
Paradox Public Relations at +1-514-341-0408.
Cautionary statement on forward-looking information
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws.
Such statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this release.
All such forward-looking information and statements are based on certain assumptions and analyses made by Deep-South’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices, including the price of copper; unexpected failure or inadequacy of infrastructure, or delays in the development of infrastructure, the failure of exploration programs or other studies to deliver anticipated results or results that would justify and support continued studies, development or operations, and the results of economic studies and evaluations. Other important factors that could cause actual results to differ from these forward-looking statements also include those described under the heading “Risk Factors” in the company’s most recently filed MD&A filed by Deep-South. Readers are cautioned not to place undue reliance on forward-looking information or statements. The factors and assumptions used to develop the forward-looking information and statements, and the risks that could cause the actual results to differ materially are set forth in the “Risk Factors” section and elsewhere in the company’s most recent Management’s Discussion and Analysis report and Annual Information Form, available at www.sedar.com .
This news release also contains references to estimates of Mineral Resources. The estimation of Mineral Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource estimates may have to be re-estimated based on, among other things: (i) fluctuations in copper prices or other mineral prices; (ii) results of drilling; (iii) results of metallurgical testing and other studies; (iv) changes to proposed mining operations, including dilution; (v) the evaluation of mine plans subsequent to the date of any estimates; and (vi) the possible failure to receive required permits, approvals and licences, or changes to any such permits, approvals or licence.
Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
- Published in Deep South Resources Inc., Mining
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 to Use its CARDS “Artificial Intelligence Technology” to Target Copper, Zinc, and Silver on Falco Resources Inc.’s Mining Properties in Rouyn-Noranda
Momentum Public Relations
Press Release: December 19, 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 that its techn ology will be used on Falco Resources Inc. (” Falco “) (Venture TSX: FPC ) 67,258 hectares properties in the Rouyn-Noranda region of Quebec. A fee of $90,000 will be paid to Albert for its CARDS (Computer Aided Resources Detection Software) services.
“Mrs. Claude Pilote, Senior project engineer of Falco, stated: “During the last few years, we made important progress at the Horne 5 deposit outlining a Measured Mineral Resources of 769,885 oz. AuEq (9,259,600 tonnes at 2.59 g/t AuEq, gold equivalent) and Indicated Mineral Resources of 6,731,443 oz. AuEq (81,855,200 tonnes at 2.56 g/t AuEq). With its positive feasibility study on the Horne 5 project, one of Falco’s objectives is to increase these resources on its 67,258 hectares properties. We believe that the CARDS technology will make it possible for us to develop new exploration targets on our properties and focus our efforts in high potential zones.”
By using its CARDS technology, Albert will assist Falco in identifying targets and possible sites with the same signature as known mineralized occurrences. Albert uses its proprietary technology to analyze geological, geophysical, and geochemical to discover the patterns hidden in the large amount of data that Falco owns.
About Albert Mining Inc. – Where Artificial Intelligence Meets Geology
Albert is a junior mining exploration and services 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.
For further information, please contact:
Michel Fontaine
President and CEO of Albert Mining Inc.
Telephone: 514-994-5843
Email: michel@albertmining.com
Website: www.albertmining.com
Additional information about the Corporation is available under Albert’s profile on SEDAR atwww.sedar.com .
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the resumption of the trading of Albert shares on the TSX Venture Exchange. Statements regarding future production, capital expenditures and development plans are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in Albert’s public disclosure documents, copies of which are available on Albert’s SEDAR profile at www.sedar.com .
Although Albert believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Albert’s actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and except as required by applicable securities laws, Albert disclaims any intention or obligation to publically update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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.
- Published in Albert Mining, Artificial Intelligence, Mining
PROPERTY ACQUISITION PROGRESS RESTATEMENT
Momentum Public Relations
Press Release: December 11, 2017
On Dec. 8, 2017, Crystal Lake Mining Corp. issued a property update and it wishes to add to and clarify several items contained therein.
The subject Emo, Ont., properties are specifically located in Dobie, Kingsford, Mather, Potts and Tait townships, in the Dogpaw Lake and Heronry Lake areas.
The company has commissioned Ronacher McKenzie Geoscience to prepare an independent technical report in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects — on the properties.
All claim blocks are within 60 kilometres of each other. The target is Ni-Cu-PGE (nickel-copper-platinum-group-elements) mineralization, however, the exact geological characteristics of the claim blocks remain to be determined.
The geological content of this press release was reviewed by Dr. Elisabeth Ronacher, PhD, PGeo, a qualified person in accordance with in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a mineral exploration/development company focused on creating value through the exploration and development of its British Columbia and Ontario mineral properties.
We seek Safe Harbor.
- Published in Crystal Lake Mining, Mining