Anfield Closes Financing and Issues 6-Month Corporate Update
Anfield Closes Financing and Issues 6-Month Corporate Update
Momentum Public Relations
Press Release: July 26, 2017
VANCOUVER, BC–(Marketwired – July 26, 2017) – Anfield Resources Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF)(FRANKFURT: 0AD) (“Anfield” or “the Company”) following the recent closing of its $3.1 million financing, is pleased to provide this review and corporate update with regard to its 2017 activities. Anfield continues to position itself to become a top-tier U.S.-based uranium producer in the near future. The following list highlights the Company’s achievements so far in 2017:
- Engaged BRS Inc., an engineering firm, to prepare a series of NI 43-101 compliant technical reports for Anfield’s 24 Wyoming-based projects;
- Announced the receipt of an NI 43-101 compliant mineral resources technical report for the Red Rim uranium project, based in Wyoming;
- Announced that Robert Lumadue, a uranium industry veteran, joined the Company as Vice President, Uranium Sales and Marketing;
- Continued advancing the Shootaring Canyon Uranium Mill license towards operational status with the Utah Division of Waste Management and Radiation Control; and
- Closed two private placement financings totaling approximately $6 million to be used for project development.
Corey Dias, Anfield’s CEO stated, “Following the closing of our recent financing, we will continue to fund the advancement of our current assets in anticipation of a rebound in the uranium price. At the same time, we will also continue to seek opportunities via acquisition and believe that this strategy will provide significant growth prospects for the Company. Finally, with the addition of a VP of Uranium Sales and Marketing, we have ramped up our interaction with a number of U.S.-based utilities with regard to pursuing long-term contracts and are pleased with the feedback we have received. We have no doubt that 2017 will be a transformational year for Anfield.”
About Anfield
Anfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centres, as summarized below:
Arizona/Colorado/Utah – Shootaring Canyon Mill
The key asset in Anfield’s existing portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s uranium assets consist of conventional mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield’s ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming, and comprise 2,667 federal mining claims, 56 Wyoming State leases and 15 private leases acquired from Uranium One in September 2016.
Anfield has agreed to enter into a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray Central Processing Plant in Wyoming.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
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.
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.
Contact:
Anfield Resources Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com
www.anfieldresources.com
- Published in Anfield Resources, Mining, News Home
King’s Bay Commences Exploration Program at Trump Island Copper-Cobalt Project
King’s Bay Commences Exploration Program at Trump Island Copper-Cobalt Project
Momentum Public Relations
Press Release: July 26, 2017
Vancouver, British Columbia (FSCwire) – King’s Bay Resources Corporation (TSX.V: KBG), (FSE: KGB1), a mineral exploration and development company based in Vancouver Canada, is pleased to announce that it has received exploration permit approval and will commence an exploration program on its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned, Trump Island Copper-Cobalt Project on the northern coast of Newfoundland.
King’s Bay has assembled a technical field team to immediately investigate the historical geologic data from the past producing copper-cobalt mine at North Trump Island. Phase 1 of the program will include a localized geophysical survey, grab sampling in existing mine shaft and reconnaissance of the remainder of the island for new showings. Pending positive results, Phase 2 of the exploration program will potentially include a drilling program.
Property Overview
The North Trump Island Property consists of 8 mineral claims encompassing an area of 2 square kilometers and is located 7 kilometers south of town of Twillingate, Newfoundland and Labrador. The property is accessible by boat 1.5 kilometers east from the nearest boat launch at Tizzard’s Harbour on NL Hwy 345.
The property’s history dates back to the mid 1860’s when a 20-foot (6.1 m) shaft was sunk on a mineralized zone of massive chalcopyrite. At the bottom of the shaft, it was reported that the mineralized zone expanded with depth but, due to limited technology, no further excavation could be safely continued. Follow up grab sampling in 1999 by G. Lewis, an experienced local prospector, revealed mineralization assaying up to 3.80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 2.90 g/t Au and 10.9 g/t Ag near the old Clymo mine shaft. The property has not been drilled to date. The compilation of the recent 1998-99 field work done by Lewis suggests that a more detailed exploration program is warranted.
Exploration History
In 1863 Nicholas Clymo, a miner of Cornwall, United Kingdom visited the area and sunk a pit to a depth of 20 feet (6.1 m) which followed a 3 feet (0.9 m) wide mineralized zone that was said to increase in thickness with depth. He reported that a shipment of high grade copper-cobalt ore was shipped to Swansea, England as documented in the Newfoundland Provincial Mineral Rights Database. This shipment was said to be worth “40 pounds per fathom” (Clymo, 1863). In 1953, J. Kalliokoski of the Newfoundland Geologic Survey headed up a mapping and prospecting program for Newmont Mining Company in the area but no sample assays were reported. In the 1990s, G. Lewis conducted prospecting and limited rock and soil grab samples and filed a first-year assessment report in 1999 with the Newfoundland and Labrador Mineral Titles Branch.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The Company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as “King’s Bay”.
On Behalf of the Board
Kevin Bottomley CEO, President
For Investment Inquiries please contact:
Brad Hoeppner, Director
O: 604 681 1568
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements 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. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kingsbay07262017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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Copyright © 2017 Filing Services Canada Inc.
- Published in King's Bay, Mining, News Home
Anfield Resources 52,124,349-share private placement
Anfield Resources 52,124,349-share private placement
Momentum Public Relations
Press Release: July 18, 2017
2017-07-18 16:44 ET – Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced June 30, 2017.
Number of shares: 52,124,349 shares
Purchase price: six cents per share
Warrants: 52,124,349 share purchase warrants to purchase 52,124,349 shares
Warrant exercise price: 10 cents for a five-year period
Number of placees: 26 placees
Insiders: Corey Dias, two million; Joshua Bleak, two million
Finders’ fees: Leede Jones Gable Inc., $2,100 and 35,000 share purchase warrants exercisable into common shares at 10 cents per share for a 60-month period; Canaccord Genuity Corp., $16,056.60 and 267,610 share purchase warrants exercisable into common shares at 10 cents per share for a 60-month period
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Arctic Star begins drill program at Cap property
Arctic Star begins drill program at Cap property
Momentum Public Relations
Press Release: July 18, 2017
2017-07-18 16:21 ET – News Release
Mr. Patrick Power reports
ARCTIC STAR COMMENCES DRILL PROGRAM AT THE CAP PROPERTY, BC
Field crews have mobilized to Arctic Star Exploration Corp.’s wholly owned Cap property, located approximately 80 kilometres northwest of Prince George, B.C.
The summer exploration program will include approximately three drill holes for an estimated maximum of 1,000 metres, with the objective of testing coincident geochemical and geophysical anomalies, which are interpreted to indicate the presence of carbonatite.
About the Cap property
The Cap property is situated within the central parts of the Rocky Mountain rare metal belt and encompasses six claims (one recently acquired) totalling 2,825 hectares (6,980 acres). Approximately 50 kilometres to the northeast of the property sits the Wicheeda alkaline and carbonatite complex, which was drill tested from 2008 to 2011 and returned significant rare earth element (REE) mineralization over wide intervals.
The Cap property was originally staked in 2010 to cover an approximately three-to-five-kilometre-diameter circular airborne magnetic anomaly, which is interpreted to represent a carbonatite (or similar intrusion) at dept. The nearby Wicheeda carbonatite is manifested by a similarly distinct magnetic high.
Highlights from Spectrum Mining Corp. at Wicheeda from 2008 to 2009 included:
- 2008-02: 3.55 per cent REE across 48.64 metres;
- 2009-07: 2.92 per cent REE across 72 metres;
- 2009-09: 2.2 per cent REE across 144 metres.
Highlights from Canadian International Minerals Inc. at Wicheeda from 2010 to 2011 included:
- CA-10-006: 1.43 per cent TREO (total rare earth oxides) across 37.3 metres;
- CA-11-014: 0.226 per cent Nb2O5 (niobium pentoxide) across 37.6 metres.
Management cautions that past results or discoveries on adjacent properties (such as Wicheeda) may not necessarily be indicative to the presence of mineralization on the company’s properties.
A brief field examination at the Cap property during September, 2010, identified two narrow syenite dikes near the central and most prominent magnetic anomaly on the property. The dikes contained highly anomalous geochemistry, including sample 75479 with 0.14 per cent Nb2O5, 3,191 parts per million zirconium and 547 parts per million TREE (total rare earth elements). These high-level dikes indicate that the source of the magnetic anomaly may be associated with a carbonatite or similar intrusion nearby. Poor outcrop exposure in the immediate area of the magnetic high has prevented the true identification of the anomaly.
In 2011, the company conducted a high-resolution airborne magnetic and radiometric survey of the property. The survey resolved the geometry of the large magnetic anomaly that was identified from the regional data. Follow-up groundwork at the northwestern edge of the property late in the season identified sample 79831, containing 0.27 per cent Nb2O5 and 773 parts per million TREE. Preliminary mineralogical work in 2013 indicates the niobium-bearing sample is a syenite rock, and that pyrochlore is the only niobium-bearing mineral present.
Recently, a single contiguous claim was staked to cover a newly discovered rare metal occurrence that includes a thin fenite dike, which is typically indicative of proximity to a larger alkaline intrusive body such as a carbonatite. Two historical samples by its previous operator, Bolero Resources, returned strongly anomalous values of rare earth elements (0.13 and 0.1 per cent REE).
A map of the Cap property outlining the geophysical anomalies and historical sampling can be found on Arctic Star’s website under the projects section.
The company retains the property for its potential to host rare metal deposits (niobium and tantalum) and/or rare earth elements, which are commonly associated with carbonatites. These commodities have undergone a dramatic shift in demand, owing in part to their usage in the green energy sector, which includes modern wind turbines, rechargeable batteries, catalytic convertors and more.
Geologically, the Cap property has similar potential to the known carbonatite complexes worldwide. Carbonatite-related deposits are a major host for rare metals, such as niobium and tantalum, and rare earth elements. The world’s largest niobium mine, Araxa in Brazil, and several of the world’s largest rare earth element deposits, including Lynas Corp.’s Mount Weld deposit in Australia and the Mountain Pass deposit in the United States, are all hosted by carbonatites.
Darren L. Smith, MSc, PGeol, Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
© 2017 Canjex Publishing Ltd. All rights reserved.
Source (Stockwatch)
- Published in Arctic Star Exploration, Mining, News Home
Anfield Resources Inc. Announces Closing of $3.1 Million Private Placement
Anfield Resources Inc. Announces Closing of $3.1 Million Private Placement
Momentum Public Relations
Press Release: July 17, 2017
VANCOUVER, BC–(Marketwired – July 17, 2017) – Anfield Resources Inc. (TSX VENTURE: ARY) (FRANKFURT: 0AD)(OTCQB: ANLDF) (“Anfield” or “the Company”) wishes to announce that it has received conditional acceptance from the TSXV for 52,124,349 Units at $0.06, for a total equity raise of $3,127,461. The Units consist of one common share and a one share purchase warrant, with each warrant exercisable at $0.10 for a five-year term.
Corey Dias, Anfield’s CEO, stated, “We are very pleased to announce the closing of this financing. With these funds, Anfield will be able to continue to position itself for the expected turnaround in the uranium sector as it is clear that nuclear power will remain an integral part of the global energy mix.“
The financing proceeds will be used for project acquisition and development and general working capital purposes. The shares have a hold period to November 18, 2017. The Company paid finder’s fees of $18,156.60 and issued 302,610 broker warrants at $0.10, expiring on July 16, 2022.
About Anfield
Anfield is an energy metals development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets. Anfield is a publicly-traded corporation listed on the TSX Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centers, as summarized below:
Arizona/Colorado/Utah – Shootaring Canyon Mill
The key asset in Anfield’s conventional uranium portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s uranium assets consist of conventional mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
Wyoming Properties – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield’s ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming, and comprise 2,667 federal mining claims, 56 Wyoming State leases and 15 private leases acquired from Uranium One in September 2016.
Anfield has agreed to enter into a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray Central Processing Plant in Wyoming.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias,
Chief Executive Officer
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.
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Contact:
Anfield Resources, Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com
www.anfieldresources.com
- Published in Anfield Resources, Mining, News Home
Arctic Star Confirms Diamonds in a New Kimberlite Field, Finland
Arctic Star Confirms Diamonds in a New Kimberlite Field, Finland
Momentum Public Relations
Press Release: July 12, 2017
“Arctic Star views this new Project as a unique opportunity to advance a new diamond district“, says Buddy Doyle, VP Exploration of Arctic Star. “The 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}-owned Project offers diamond bearing kimberlites that allow for immediate further work to assess their economic potential. The Project is road accessible, and located on excellent infrastructure in mining friendly Finland.“
Vancouver, British Columbia–(Newsfile Corp. – July 12, 2017) – Arctic Star Exploration Corp. (TSXV: ADD) (FSE: 82A1) (WKN: A2DFY5) (“Arctic Star” or the “Company”) is pleased to announce that it has agreed to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in a 243Ha Exploration Permit over the Black Wolf (Masta Susi) and the White Wolf (Valkoinen Susi) diamond bearing kimberlites (together the “Wolf kimberlites”) in northern Finland. The Exploration Permit is being acquired via a Share Exchange Agreement with the Finnish holding company (transaction details below).
Furthermore, the Company has filed application for an Exploration Reservation centered on the acquired Exploration Permit. The Reservation is approximately 95,700 hectares in size, and it provides Arctic Star with exclusive rights to acquire additional exploration permits for a 2 year period.
The combined regional exploration and diamondiferous kimberlite property has been named the Timantti Project (Timantti is Finnish for “diamond”).
Mr. Roy Spencer, who discovered the Wolf kimberlites also led the team that discovered the Grib Diamond Mine near Archangelsk, Russian Federation, has joined Arctic Star’s Board. “Kimberlites are likely to occur in fields – also known as clusters – which typically contain 30 or more separate kimberlites. The Wolf kimberlites are just the first discoveries in a more extensive cluster,” according to Roy Spencer. Roy continues: “There is good evidence for the existence of this field in the public domain. This data shows regional distribution of kimberlitic indicator minerals and diamonds in surficial tills. The Exploration Reservation will allow Arctic Star to explore the entire region”.
A 43-101 technical report titled, “Geological Report on the Foriet Diamond Property, Finland” authored by Kevin R. Kivi, P.Geo, of KIVI Geoscience Inc. has been filed by the Company on SEDAR. The author confirmed the diamond-bearing nature of the Wolf kimberlites by submitting samples collected from kimberlite float in overburden during a due diligence site visit. Microdiamond results are shown in Table 1.
Table 1: Micro-diamond assay results for the Arctic Star due diligence surface float samples, White Wolf kimberlite.
Kimberlite | Sample Weight Kg |
+0.106 mm |
+0.15 mm |
+0.212 mm |
+0.3 mm |
+0.425 mm |
+.60 mm |
Total Stones |
White Wolf | 18.9 | 23 | 16 | 13 | 4 | 2 | 0 | 58 |
Microlithics Laboratories Inc., of Thunder Bay, ON (“Microlithics”) is independent of the issuer, and is not ISO accredited. Kevin Kivi, P.Geo. has audited Microlithics to verify sample preparation and analytical methods for diamond recovery were appropriate.
Mr. Doyle continues “the opportunity for an economic discovery at Timantti is substantially improved by easier access than companies face in in northern Canada and Siberia. The Wolf kimberlites represent the first discoveries in a possibly more extensive diamondiferous kimberlite field.”
“Both Roy and Buddy have led Tier 1, major company diamond mine discovery teams, and previously collaborated on diamond projects in Finland and on the development of the Lihqobong Diamond Mine in Lesotho,” commented Mr. Patrick Power, President and CEO of Arctic Star. “Roy’s extensive local knowledge and experience will mean we can hit the ground running in Finland, and we expect to commence work immediately upon closing of the transaction.”
The Wolf kimberlites were discovered by European Diamonds PLC in 2005. The discovery team was led by Mr. Spencer. European Diamonds made the discoveries by drilling a low-magnitude magnetic high anomaly at the head of a prominent G10 pyrope garnet-bearing kimberlitic indicator mineral (“KIM”) train they had traced over 30km. In total eight (8) angled diamond drill holes were completed on the bodies. Some 41.2kg of kimberlite, which comprised pyroclastic and hypabyssal phases, were collected. In September 2005 European reported “microdiamond analysis at the laboratories of Kennecott Canada Exploration in Thunder Bay, Canada, identified a total of 42 small diamonds between 0.15 and 0.88 mm in size from 4 samples totaling 41.2kg in weight. Sample processing was performed to the ISO/IEC17025 standard. Eleven of the 42 diamonds have a longest axis equal to or greater than 0.5mm with the largest stone having a long axis of 0.88mm. Approximately 26{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the stones were white and some 38{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} were octahedrons“.
In 2006 European Diamonds changed its name to Kopane Diamond PLC. An 8.8t kimberlite sample was extracted from the Wolf kimberlites from two shallow backhoe trenches. These samples were run through a gravity separation circuit at the Finnish government facility in Outokumpu. 1.25 carats of stones greater than 1mm were recovered. The largest stone recovered was 0.09 carats.
Buddy Doyle further comments, “The high microdiamond count, 77 stones (greater than 0.15mm), from the two small samples totaling 60.1kgs (European plus Arctic Star Caustic Fusion samples) is a significant result. Backhoe trenching results are significant because they show the Wolf pipes contain diamonds of over 1mm.
The Wolf kimberlites occur on the Fennoscandian Shield which hosts the world class (multi-billion dollar revenue) diamond mines at the Arkhangelskaya kimberlite (Lomonosov Mine) and Grib kimberlite (Grib Mine), both near Arkhangelsk Russia (450km East of Wolf). In Finland the diamond bearing Kuopio kimberlite field occurs on the exposed Archaean Karelian Craton segment of the Fennoscandian Shield, south of the Timantti Project.
Arctic Star believes that the diamond bearing Wolf kimberlites signify the first discoveries in a new diamond bearing kimberlite field. This view is supported by public data showing “cloud” of KIMs distributed across an area that is some 80km wide and roughly centered on the Wolf kimberlites.
Patrick Power, President and CEO comments, “I believe that a commanding land position around the Wolf kimberlites is the key to ensuring our shareholders have maximum exposure to discovery in this new and exciting diamond district, which we believe offers high potential for numerous further diamond-bearing kimberlite discoveries. This to me is the most exciting aspect of the Timantti project.“
After closing the acquisition, the next steps are to quickly gain a better understanding of the Wolf kimberlites. The Arctic Star field visit confirmed the Wolf kimberlites contain both pyroclastic (formed near surface) and hypabyssal (formed at depth) kimberlite types. Arctic Star plans to complete detailed magnetic, gravity and EM (electro-magnetic) geophysical ground surveys, which will be used to target further drilling. Drilling will help define the shape and tonnage of each kimberlite and collect more material for caustic fusion analysis for microdiamonds. The microdiamond distribution will determine the parameters of a bulk sample (to determine diamond grade and value).
To swiftly discover more kimberlites on the Timantti Project, Arctic plans to fly airborne geophysical surveys to cover the entire region that hosts KIMs. The Company will improve targeting by detailed ground follow up of the indicator mineral anomalies in the area.
Arctic Star has entered into a Share Exchange Agreement dated effective June 7, 2017 and agreed to issue 14,500,000 common shares at a deemed price of $0.20 per share for all the right, title and interest to Foriet Oy, a Finnish company that has the 243Ha exploration permit over the Wolf kimberlites in North-Eastern Finland. 10,000,000 of the Arctic Star shares are to be issued to Dragon Equities Ltd., a UK company, which indirectly owns Foriet Oy, and 4,500,000 shares will be issued to the beneficial owners of a joint venture partner of Foriet Oy. On completion of the Share Exchange, Foriet Oy will become a wholly owned subsidiary of Arctic Star.
In addition to the 4 month hold period imposed by securities regulation, all shares issued in the transaction will be subject to a Value Securities Escrow Agreement whereby the shares are released over a 3 year period. Closing of the Share Exchange Agreement is subject to TSX-V approval.
The Company welcomes Mr. Roy Spencer and Mr. Scott Eldridge to the Board of Directors.
In addition to Mr. Spencer’s previously mentioned accomplishments, Roy is a GSSA Member and a Fellow of the AusIMM. Roy joined De Beers upon graduation from high school in 1966 and has been involved with exploration and deposit evaluation for gemstones and other commodities throughout his career. Roy’s tertiary education was at the University of Natal and Rhodes University in South Africa, and is a member of the Geological Society of South Africa and a Fellow of the Aus.I.M.M. As technical director of Peregrine Diamonds, he discovered the first kimberlites on the Pilbara craton in Western Australia in 1989, and as Leader of the Owners Team for Archangel Diamond Corporation he was largely responsible for the discovery of the world class Grib kimberlite in far northern Russia (February, 1996). In 1998, Roy created and raised the seed finance for Ilmari Exploration Oy to explore for gold, base metals and diamonds on the Karelian Craton in Finland. Ilmari went public in 2000, and discovered the Lentiira kimberlite cluster in central Finland in 2003.
In 2006, as CEO of London-based diamond explorer European Diamonds, Roy led the Owners Team which brought the Liqhobong kimberlite (Lesotho) into commercial production on time and under budget. In mid-2007, Roy left European, a company which had evolved into a successful mid-tier diamond producer and marketer after having raised £23 million over a 6-year period. Since that time Roy has continued in gemstone exploration and deposit evaluation in Africa, Finland and western Russia for a variety of junior and senior mining companies.
Scott Eldridge is experienced in the financial industry focused on the resource sector. He is a co-founder, President & CEO of Euroscandic International Group Inc., a private company offering accounting and investment banking services to natural resource companies. During his time in the industry Scott has been responsible for raising in excess of $500 million in combined equity and debt financing for mining projects varying from exploration to construction financing around the globe. Mr. Eldridge has a B.B.A. from Capilano University, and an M.B.A. from Central European University.
About Arctic Star: Arctic Star is an experienced diamond and mineral exploration company, with diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and in the Athabasca Basin of SK. The Company has been planning and de-risking its entry to Finland over the last year, and is pleased to present what it believes is the pre-eminent new field opportunity to shareholders in the Timantti Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
“Patrick Power”
Patrick Power, President
+1 (604) 689-1799
Qualified Persons: The content of this news release has been read and approved by Roy Spencer, FAusIMM, a Director of the Company, who is a Qualified Person and has been read and approved Kevin R, Kivi, P.Geo., an Independent Qualified Person as defined by NI 43-101.
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 offers high potential for numerous further diamond-bearing kimberlite discoveries; Arctic’s drilling and surveying plans and the expected outcome of those plans; that Arctic can swiftly discover more kimberlite on the property; that the Wolf kimberlites themselves may have the potential to be economic; that the transaction will receive TSX approval and will close; the statements that Mr. Spencer will be a strong addition to the ADD discovery team, that the Exploration Reservations contiguous with the acquired claim package would be able to be explored.
Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not be able to finance our intended acquisition or intended exploration and we may not obtain regulatory approval for the transaction.
The Wolf kimberlites assets have not been the subject of any recent resource work, much less a feasibility study and as such there is no certainty that any future resource will be defined or be able to produce a commercially marketable product. There is a significant risk that any future efforts at the project will not demonstrate any merit for work to evaluate for a defined NI 43-101 compliant resource and economic study. General risks inherent in the Project include the reliance on available data and assumptions and judgments used in the interpretation of such data, the speculative and uncertain nature of exploration and development, exploration and development costs, capital requirements and the ability to obtain financing, volatility of global and local economic climates, possible political instability, share price volatility, estimate price volatility, changes in equity markets, increases in costs, exchange rate fluctuations and other risks involved in the mineral exploration and development industry. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law.
- Published in Arctic Star Exploration, Mining, News Home
Inca One unit Chala completes power line construction
Inca One unit Chala completes power line construction
Momentum Public Relations
Press Release: July 07, 2017
Inca One Gold Corp. has received verification from its wholly owned subsidiary Chala One, that construction of its new industrial power line has been completed. Initial tests and inspections by SEAL, the regional power supplier for the power line, have also been completed successfully. Chala One anticipates connection to the Peruvian national power grid imminently.
Since purchasing the original processing plant in 2013, Chala One had to rely on diesel fuel for power generation. It was not until Chala One had attained its final beneficial operating permit in January, 2017, to become a fully formalized company that its application for the necessary permits connecting the plant to the national power grid could be approved.
Construction of the two-kilometre power line at Chala One began in March, 2017, and is now complete, on time and on budget. Chala One estimates a 70-per-cent energy cost reduction as the plant shifts from diesel to electric power.
“We identified opportunities early on to reduce costs at our commercial operations,” stated Inca One president and chief executive officer, Edward Kelly. “But executing these changes required a beneficial permit. Energy savings is a necessary component of profitability. The installation of this power line and connection to the power grid will have a positive impact on our bottom line in the coming quarter.”
Private placement
The company also announces that it has closed the second tranche of its previously announced (June 9, 2017) non-brokered private placement for gross proceeds of $196,800 by the issuance of 1,968,000 units at a subscription price of 10 cents per unit.
Together with the first tranche closing previously announced on June 12, 2017, the company has raised in aggregate gross proceeds of $1,296,800 of the previously announced $1.5-million private placement. The company intends to close the final tranche of the private placement shortly.
For terms and further details of the private placement please view Inca One’s news releases dated June 9, 2017, or June 12, 2017.
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 them at its Chala One milling facility located in Chala, southern Peru.
We seek Safe Harbor.
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- Published in Inca One Gold Corp, Mining, News Home