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
Defiance Silver 5,750,001-share private placement
Momentum Public Relations
Press Release: November 10, 2017
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 15, 2017.
First tranche
Number of shares: 4,860,001 shares
Purchase price: 30 cents per share
Warrants: 4,860,001 share purchase warrants to purchase 4,860,001 shares
Warrant exercise price: 45 cents for a two-year period
Number of placees: 36 placees
Insiders: Ronald E. Sowerby, 100,000; Kesa Capital Corp. (Darrell Rader), 35,000; Paul A. Smith, 175,000; Windermere Capital Fund SPC/Navigator SP (Victor Murray), 700,000
Finders’ fees: $10,080 cash and 33,600 warrants payable to Raymond James Ltd.; $8,000 cash payable to Mackie Research Capital Corp.; $93,640 cash payable to Windermere Capital (Canada) Inc. (Finder’s fee warrants are exercisable at 45 cents per share for two years.)
Second tranche
Number of shares: 890,000 shares
Purchase price: 30 cents per share
Warrants: 890,000 share purchase warrants to purchase 890,000 shares
Warrant exercise price: 45 cents for a two-year period
Number of placees: 45 placees
Insider: Roy Bonnell, 80,000
Finder’s fee: $19,440 cash payable to Windermere Capital (Canada) Inc. (Finder’s fee warrants are exercisable at 45 cents per share for two years.)
- Published in Defiance Silver, Mining
Inca One Gold Reports April 30, 2017 Financial Statements and Q4 2017 Operational Highlights
Inca One Gold Reports April 30, 2017 Financial Statements and Q4 2017 Operational Highlights
Momentum Public Relations
Press Release: August 2, 2017
VANCOUVER, BC – August 2, 2017 – INCA ONE GOLD CORP. (TSXV: IO, Frankfurt: SU9.F, SSEV: IOCL) (“IncaOne” or the “Company”) has released its audited consolidated financial statements for the year ended April 30, 2017 (“YE 2017”) and the accompanying management’s discussion and analysis (“MD&A”). All figures in this press release are in Canadian dollars unless stated otherwise. These documents have been filed electronically with SEDAR and will be available on the Company’s website.
Q4 2017 Operational Highlights
The company generated a quarterly gross operating margin of $117,316 in Q4 2017, compared to a gross operating deficit of $774,498 and $537,948 in Q4 2016 and Q3 2017, respectively. This gross operating profit can be attributed to cost savings and operational efficiencies enacted in 2016, an increase in mineral grade processed and a higher gold price per ounce sold in this quarter.
Highlights during Q4 2017 include:
- RESULTS: Total sales of $4,247,620 (Q4 2016 – $2,496,234) with total cost of goods sold of $4,130,304 (Q4 2016 – $3,270,732) resulting in a gross margin of $117,316 (Q4 2016 – gross deficit $774,498);
- TONNES: 5,088 tonnes (Q4 2016 – 2,709 tonnes) of mineral was processed and an average daily processing volume of 58.5 TPD (Q4 2016 – 31.7 TPD) was achieved; and
- GRADE: the average gold grade processed was 0.52 oz/t (Q4 2016 – 0.49 oz/t).
Quarter over Quarter highlights | Q4 2017 |
Q3 2017 |
Q4 2016 |
Variance {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Q4 2017 to Q3 2017 |
Variance {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Q4 2017 to Q4 2016 |
Tonnes processed in COGS (t) | 5,401 | 6,970 | 2,748 | (22.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 96.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Tonnes processed in period (t) | 5,088 | 7,298 | 2,709 | (30.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 87.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Average daily processing volume (t) | 58.5 | 79.3 | 31.7 | (26.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 84.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Mineral grade processed (oz/t gold) | 0.52 | 0.50 | 0.49 | 5.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 7.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Gold sold (equivalent) (oz) | 2,640 | 3,208 | 1,526 | (17.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 73.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Gold sold (oz) | 2,575 | 3,149 | 1,459 | (18.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 76.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Silver sold (oz) | 4,433 | 4,119 | 5,206 | 7.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | (14.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Sales revenue ($) | 4,247,620 | 5,056,691 | 2,496,234 | (16.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 70.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Cost of goods sold (“COGS”) ($) | 4,130,304 | 5,594,639 | 3,270,732 | (26.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | 26.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Gross operating margin (deficit) ($) | 117,316 | (537,948) | (774,498) | 121.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 115.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Revenue per tonne ($) | 786 | 725 | 908 | 8.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | (14.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Cost per tonne ($) | 765 | 803 | 1,207 | (4.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | (36.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Gross margin per tonne ($) | 22 | (77) | (286) | 128.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 107.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Average gold price per oz sold ($) | 1,609 | 1,576 | 1,590 | 2.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 1.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Cost per oz sold ($) | 1,564 | 1,744 | 2,241 | (10.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) | (30.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) |
Gross margin per oz sold ($) | 44 | (168) | (531) | 126.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 108.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Average London Close price ($) | 1,654 | 1,593 | 3.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | ||
Average London Close price ($USD) | 1,242 | 1,196 | 1,230 | 3.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 1.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Results of Operations – Q4 2017 compared to Q4 2016
Revenue for Q4 2017 was $4,427,620 (Q4 2016 – $2,496,234) and cost of goods sold was $4,130,304 (Q4 2016 – $3,270,732) resulting in a gross margin of $117,316 (Q4 2016 – gross deficit $774,498). The gross margin improvements were primarily due to cost saving measures, operating efficiencies and mineral purchasing efficiencies enacted over the year benefiting the quarter.
In Q4 2017 Inca One operated below plant capacity due to excessively harsh weather conditions that lead to widespread flooding across Peru. Notwithstanding the above, the Company radically increased operating effectiveness in all areas of the business in this post-Restructuring ramp-up environment.
During Q4 2017, the Company reported a gross operating margin of $117,316, and a net loss of $666,558, a significant improvement from the net loss of $2,826,758 during Q4 2016. This is primarily the result of cost cutting measures. The most significant components of the loss were a net restructuring cost of $365,353, management fees and salaries of $323,261, finance costs of $234,200 and professional fees of $95,385.
During Q4 2017 the Company’s net restructuring loss of $365,353 was composed of amortized marketing restructuring costs of $432,832, restructuring costs of $110,747, impairments of $23,702, offset by a gain on debt restructuring of $201,928. There were no restructuring costs in the comparable period in 2016.
Management fees and salaries during Q4 2017 decreased by $416,776 to 323,261 compared to $740,037 during Q4 2016, primarily due to cost cutting measures in fiscal 2017.
Finance costs during Q4 2017 decreased by $73,920 to $234,200 compared to $308,120 in Q4 2016 primarily due to significantly lower debt and interest post-Restructuring and Debt Settlement.
Professional fees during Q4 2017 decreased by $47,471 to $95,385 compared to $142,856 during Q4 2016 primarily due to cost cutting measures in fiscal 2017.
Future Outlook
The Company is moving forward with its business plan to focus on gold-bearing mineral processing facilities in Peru. Inca One believes that the Chala Plant operations will provide the necessary cash flow to achieve ongoing profitability in calendar 2017. The Company intends to use the funds and net profits from the mineral processing operations at the Chala Plant, and additional fundraising activities as required, to execute its business plan and expand mineral processing operations so that it can continue to achieve its long-term objectives.
About Inca One
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 6th 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, to be valued at approximately US$3 billion 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.
On behalf of the Board,
Edward Kelly,
President and CEO
INCA ONE GOLD CORP.
For More Information Contact:
Konstantine Tsakumis
Inca One Gold Corp.
Email: ktsakumis@incaone.com
Telephone: 604-568-4877
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 NEWS RELEASE.
Statements regarding the Company which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that the Company has limited operating experience with its Chala plant and future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.
This press 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 state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
- Published in Inca One Gold Corp, Mining, News Home
King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
Momentum Public Relations
Press Release: July 6, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (TSX.V: KBG) (FSE: KGB1), operating as “King’s Bay”, a mineral exploration company based in Vancouver submits application to Newfoundland and Labrador Government, Department of Natural Resources for the commencement of phase 2 of the exploration program in south eastern Labrador.
Phase 2 of the Lynx Lake exploration program will involve ground truthing for the recently flown VTEM survey, which highlighted an area of low resistivity in the western pit of mineralization. The size of the anomaly is anticipated to be ranging in depth from 50-300meters and estimated to be approximately 400 meters in diameter. The “west pit” has been historically sampled yielding assays of up to 1.03{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Copper, 0.56{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cobalt, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Vanadium, 0.10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nickel and 5.0g/t Silver.
The exploration program will consist of a localized ground electromagnetic survey over the anomaly at 20-meter line spacing. It will also include reconnaissance for bedrock exposure in the underexplored anomalous area that runs south of the west pit.
About Lynx Lake
The Lynx lake Project has returned historical grab samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic unit surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
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
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/King’sBay07062017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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- Published in King's Bay, Mining, News Home
Slocan Valley Silver Lead Zinc Camp Set to Rise Again
Slocan Valley Silver Lead Zinc Camp Set to Rise Again
Momentum Public Relations
Press Release: June 28, 2017
Momentum PR is pleased to have produced an informative and comprehensive report on Klondike Silver, available on the Momentum PR Website.
Klondike Silver Highlights:
- – Klondike Silver has the largest land package in historic silver camp
– Klondike is the first company to apply modern exploration techniques to the historically prolific region
– Richard Hughes – who assembled Klondike’s land package previously assembled Integra’s Lamaque Gold Project which is now valued at $590 Million
– Potential for 50-100 years of production left in Klondike’s land package
– Low Capex assets with an existing mill on site
Minefinder Richard Hughes, who assembled the land package that became Integra Gold’s Lamaque Gold Project (Eldorado Gold recently offered $590 million to acquire Integra), also spent 10 years assembling Klondike Silver’s Slocan Valley land package. Along the way Hughes also discovered the Hemlo, Golden Giant, Golden Sceptre, Balmoral and Beaufor mines.
Historically, more than $35 billion in current values were taken out of the Slocan camp in silver, lead and zinc but the valley was never mined out. Instead, it fell prey to the cyclical nature of the mining industry and how it was originally staked in very small 1,500 by 1,500 foot claims. Because every claim holder thought their property was beyond value nobody would sell a claim; and because existing mines couldn’t expand, mining gradually tapered off and stopped.
That was in the 1890s. Now, Slocan – one of the five largest historic silver camps in Canada – is set to rise again, as Klondike Silver (TSXV: KS) gets set to launch exploration work on their 110 square km property.
Geologist David Makepeace – who was responsible for mining and exploration for the Silvana mine in Sandon (Dickenson Mines Ltd. 1983-1989) – believes that there is enough silver left in the camp to last 50-100 years at 100 tons per day.
Makepeace is currently building a 3D geological map of Slocan, which is expected to be finished in Q4 2017. When it is complete it will be used to establish drill campaign targets.
Klondike Silver will also benefit from a low capex. To begin with, the company already has a permitted 100 ton per day mill at Sandon; and secondly the company will be drilling from inside existing adits which means they don’t have to drill deep. Because the drill teams will be working inside a mine, they will not have to stop for winter.
Klondike has an added bonus: it is sitting on a zinc stockpile in the form of cobbed material left outside the mines when the price of zinc was so low there was no point in processing it. That zinc is now worth good money.
The Momentum PR informative and comprehensive report on Klondike Silver is available on the Momentum PR Website.
If you would like more information on Klondike Silver; listed on the TSX Venture exchange under the symbol KS, and with a market cap of C$6.15 million, or would like to arrange an interview with management please contact:
Momentum PR
Juliette Benard, Director Media Relations
+1.450.332.6939
About Momentum PR
Momentum PR is a cutting-edge public and investor relations consulting agency representing companies within the Canadian investment community.
Since 2009, Momentum PR has been servicing small and mid cap Canadian listed public companies, seeking to increase their exposure across North America. The focus at Momentum PR is on building and driving brand awareness. Momentum PR cultivates new audiences in the media and investment communities by proactively engaging interested parties on behalf of client companies through online and offline channels.
Disclaimer:
All editorial content contained herein is solely the responsibility of Momentum PR and does not reflect, in any way, the opinions of TheNewswire.ca Inc., its partner newswires and / or associated news services.
- Published in Klondike Silver Corp., Mining, News Home
Momentum Reports – Klondike Silver – June 2017
- Published in Blog, Klondike Silver Corp., Mining, News Home
Savant Explorations Ltd. Announces Election of Directors, Proposed Name Change to Blue Moon Zinc Corp.
Savant Explorations Ltd. Announces Election of Directors, Proposed Name Change to Blue Moon Zinc Corp.
Momentum Public Relations
Press Release: June 21, 2017
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 21, 2017) – Savant Explorations Ltd. (TSX VENTURE:SVT)(OTC:SVATF) (the “Company“) is pleased to announce that Patrick McGrath, Douglas Urch and Jack McClintock were elected as directors of the Company at the annual general and special meeting of the shareholders (the “Shareholders Meeting“) held Thursday, June 15, 2017 in Vancouver, B.C.. The shareholders also approved a special resolution adopting new Articles for the Company at the Shareholders Meeting. The Company’s new Articles are available for viewing under the Company’s profile on www.sedar.com.
The Company also plans to change its name to “Blue Moon Zinc Corp.” from “Savant Explorations Ltd.” to better reflect the Company’s focus on the Blue Moon zinc project. The name change and symbol change will be announced on receipt of regulatory approval.
“We felt this name change was an important first step as we focus our attention towards advancing our Blue Moon Zinc Project” says Patrick McGrath, CEO of Savant Explorations.
About Savant
The Company is focused on the wholly-owned advanced stage Blue Moon Zinc project. The Blue Moon project has a current resource estimate of 2.62 million tons with a grade of 6.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Indicated category and 2.68 million tons with a grade of 5.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Inferred category plus significant values of copper, silver and gold. The resource is open at depth and along strike and historical metallurgical testing indicates favourable recoveries. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.savantexplorations.com) and filed on SEDAR on February 21, 2008. The Company plans to advance the project to feasibility and permitting.
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. This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration and development drilling, exploitation and development activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and 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. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com
Savant Explorations Ltd.
Patrick McGrath
CEO
1-832-499-6009
pmcgrath@bluemoonmining.com
www.savantexplorations.com
Savant Explorations Ltd. Announces $500,000 Financing
Savant Explorations Ltd. Announces $500,000 Financing
Momentum Public Relations
Press Release: June 5, 2017
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 5, 2017) – Savant Explorations Ltd. (TSX VENTURE:SVT) (the “Company“) announces the Company has arranged a private placement of $500,000 at a price of $0.05 per common share, subject to regulatory approval. Certain insiders have agreed to participate and the common shares to be issued pursuant to this private placement will be subject to a hold period expiring four months and one day from closing. The proceeds will be used to advance the Company’s wholly-owned Blue Moon zinc project including initiating the baseline work for permitting, initial engineering work, obtaining permits for the anticipated drill program and general working capital.
About Savant
The Company is focused on the wholly-owned advanced stage Blue Moon Zinc project. The Blue Moon project has a current resource estimate of 2.62 million tons with a grade of 6.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Indicated category and 2.68 million tons with a grade of 5.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc in the Inferred category plus significant values of copper, silver and gold. Historical metallurgical testing indicates favourable recoveries of zinc and other metals. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.savantexplorations.com) and filed on SEDAR on February 21, 2008. The Company plans to advance the project to feasibility and permitting.
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. This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration and development drilling, exploitation and development activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and 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. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com.
Savant Explorations Ltd.
Patrick McGrath
CEO
1-832-499-6009
pmcgrath@bluemoonmining.com
www.savantexplorations.com
Reviving the Slocan Mining Camp
Reviving the Slocan Mining Camp
Momentum Public Relations
Press Release: May 26, 2017
Vancouver, Canada / TheNewswire / May 26, 2017 – (TSX.V: KS) Further to the News Releases dated Oct 12, 2016 and March 3, 2017: Klondike Silver Corp. has one of the most unique silver-lead-zinc projects in Canada. Klondike’s Slocan Mining Camp is a 100 square kilometre brownfields project located in southeastern British Columbia, a safe and stable jurisdiction. The project has an active Mine Permit, a 100 ton per day mill and a licenced tailings pond facility. The mill has power, water and an all-weather system of roads and highways as well as a large educated population nearby, to draw on. The mill is 1.5 hours from Teck Corp.’s Trail lead-zinc smelter and one hour from the main airport and rail system in the area. Once additional economic mineralization is identified, production can start almost immediately. Underground drilling necessary to identify additional economic mineralization is scheduled to commence in the fall of 2017.
David Makepeace, Technical Advisory Board Member provides 3D Model update:
The construction of the Main Lode 3D model is progressing. The model now incorporates eight past producing mines, with their respective ore bodies, some faults, topography with surface features, soil geochemical data and selective surface and underground diamond drill holes. More data is being input regularly from the volume of historical data available. Presently, the data for the model is based on the main local mine grid which is in imperial measurements. The model will be transformed into UTM (metric) coordinates once the LIDAR survey is complete the two will be meshed together.
Eagle Mapping Ltd. is currently contracted to commence the LIDAR SURVEY once the Slocan Mining Camp is snow-free.
About Klondike Silver
Klondike Silver’s Silver Lead Zinc land package is over 100 km2 – the largest land package in the Slocan Mining Camp (Southeast British Columbia – 138 km North of Teck’s Lead Zinc smelter (Trail BC)). Based on the British Columbia MINFILE mineral database, sixty eight (68) of the one hundred and seventy three (173) past producing Silver Lead Zinc mines in the Slocan Silver Camp are located in the Klondike Silver land package. Klondike Silver has created the first real opportunity to invest in and properly explore a sizeable portion of one of the most historic mining camps in British Columbia. Klondike likes to think of the Slocan as the last best under explored silver camp in Canada.
For additional information please visit the company website www.klondikesilver.com.
CONTACT INFORMATION
Corporate Inquiries:
Dale Dobson: (604) 682-2928
Email: dale.dobson@klondikesilver.com
On Behalf of the Board of Directors
Klondike Silver Corp.
“Thomas Kennedy”
Thomas Kennedy, B.Comm., J.D.
CEO, Director
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Klondike Silver Corp. which may cause actual results, performance or achievements of Klondike Silver Corp. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.
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.
Copyright (c) 2017 TheNewswire – All rights reserved.
- Published in Klondike Silver Corp., Mining, News Home
Canamex closes acquisition of remaining Bruner interest
Canamex closes acquisition of remaining Bruner interest
Canamex Resources Corp. and Patriot Gold Corp. have closed the transaction whereby Canamex Resources has purchased Patriot Gold’s 30-per-cent working interest in the Bruner gold/silver mine for $1-million (U.S.) cash.
Patriot retains a 2-per-cent net smelter return (NSR) royalty on the Bruner properties, including any claims acquired within a two-mile area of interest around the existing claims. Additionally, Canamex has the option to buy down half of the NSR royalty retained by Patriot for $5-million (U.S.) any time during a five-year period following closing of the purchase and sale agreement.
Canamex’s chief executive officer, Mark Billings, commented: “This acquisition consolidates our 100-per-cent ownership stake in the greater Bruner property, and offers our shareholders greater leverage to the exploration upside on the property and an increase in the price of gold.”
Patriot Gold’s chairman, Bob Coale, said: “Consolidation of Patriot’s interest in the Bruner project exemplifies our corporate mission of finding partners to develop our projects while maintaining an interest in the properties through net smelter returns. We are looking forward to the continued success of the Bruner gold project.”
Greg Hahn, president and chief operating officer of Canamex, a certified professional geologist (No. 7122), is the qualified person under National Instrument 43-101 responsible for preparing and reviewing for Canamex the data contained in this press release.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Canamex Resources Corp., Mining, News Home