King’s Bay Provides Update on VTEM Plus Survey over Lynx Lake Copper-Cobalt Project, Southern Labrador
King’s Bay Provides Update on VTEM Plus Survey over Lynx Lake Copper-Cobalt Project, Southern Labrador
– Momentum Public Relations –
Press Release: March 31, 2017
Vancouver, British Columbia (FSCwire) – King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver Canada is pleased to announce that Geotech Ltd., of Aurora, Ontario has completed 243 kilometers or (63.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) of the 382 line kilometer helicopter-borne Versatile Time Domain Electromagnetic Geophysical Survey over King’s Bay’s 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx Lake Copper-Cobalt Project in southeastern Labrador.
Geotech Ltd. has advised King’s Bay that it expects to complete this survey by mid-April. The helicopter-borne Versatile Time Domain Electromagnetic System (VTEM) has a penetration depth of over 800 m, with a low Base Frequency (30Hz) for penetration through conductive overburden cover, coupled with a 2-3 meters High Spatial Resolution. This system is advertised to be able to delineate potential drill hole targets from the airborne results. In addition, it also has excellent resistivity discrimination to enable the detection of weak anomalies.
Lynx Lake Project
The Lynx Lake Copper-Cobalt Property consists of 959 mineral claims encompassing a land area of approximately 240 square kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. Historic grab sampling on the property has returned 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 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
For Investment Inquiries please contact:
Brad Hoeppner Director
O: 604 681 1568
Forward Looking Statements
Statements in this news release that are not historical are forward looking statements. Forward looking statements in this news release include: that we will be able to identify targets suitable for further geological investigation, that VTEM surveys will be completed by mid-April, 2017 and that we will be able to delineate weak target areas. Factors which may delay or prevent these forward looking statements from being realized include misinterpretation of data, limitations of VTEM to discern targets with high accuracy, we may not be able to get equipment or labor as we need it; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; that weather, logistical problems or hazards may delay our work or prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Except as required by law, the Company assumes no obligation to update forward looking information should circumstances or management’s estimates or opinions change.
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kingsbay03312017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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- Published in King's Bay, Mining, News Home
Industrial Demand Will Support Silver ETFs
Industrial Demand Will Support Silver ETFs
Even if safe-haven demand for hard assets abates, silver exchange traded funds could continue to find support out of the industrial sector as the precious metal is a major component in many manufactured products.
For instance, silver used in the photovoltaic panel industry is growing and could reach record levels in 2018, Maxwell Gold, Director of Investment Strategy for ETF Securities, said in a note.
“Silver’s unique reflective and conductive properties make it a key component in capturing and generating electricity through sunlight,” Gold said. “The fastest growing industrial segment for silver has been its use in photovoltaic (PV) panels for solar energy. This has resulting in demand for solar PV usage becoming a key component for the silver market.”
As the solar panel industry expands, silver will also enjoy greater industrial demand. Global solar photovoltaic annual installed capacity is expected to hit 112 gigawatts by 2021, with cumulative increase in solar electricity capacity of 506 gigawatts over the next five years, according to GTM Research.
“This should boost silver demand which uses about 2/3 ounce of metal per PV panel,” Gold said.
While some observers may be worried about policy and tax incentives under President Donald Trump’s administration’s America First Energy Plan, which lacks any mention of renewable energy, the ongoing improvements in technology and rising economies of scale could continue to support the solar industry, along with silver demand.
The solar segment is not limited to the U.S. either as the international community has increasingly turned greener. Many overseas economies are adapting solar panels and other renewable energy sources to reduce emissions in an attempt to combat global warming pressures. For instance, China, the leader in solar energy, continues to expand clean energy initiatives with photovoltaic capacity.
“A combination of higher inflation, a weakening US dollar (in first half of year) and improving manufacturing growth is likely to see silver prices trade in the $20-22/ounce range in 2017,” Gold projected.
Comex silver futures are currently trading around $18.18 per ounce, with the ETFS Physical Silver Shares (NYSEArca: SIVR) up 13.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} year-to-date.
Max Chen
- Published in Blog, Klondike Silver Corp., Mining
King’s Bay Acquires Trump Island Copper-Cobalt Property
King’s Bay Acquires Trump Island Copper-Cobalt Property
Past Producing Prospect with samples of up to 3.80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 2.90 g/t Au, and 10.9 g/t Ag
– Momentum Public Relations –
Press Releases: February 16, 2016
King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver, is pleased to announce that, subject to the approval of the TSX Venture Exchange, it has entered into an agreement dated February 6, 2017 with Gary Lewis, Nigel Lewis and Unity Resources Inc. (collectively the “Vendors”), to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} title and interest in the North Trump Island copper-cobalt property in north-central Newfoundland.
Kevin Bottomley states, “The Trump Island acquisition fits in with our commitment to advancing high grade copper-cobalt properties in Newfoundland & Labrador. The fact that there has been historical mining on the island adds a new dimension to our property portfolio.”
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 the 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.
Regional Geology
The Trump Island Group lies near the southeast boundary of the Notre Dame Subzone of the Dunnage Zone in the Central Mobile Belt, locally marked by the Chanceport Fault. The Central Mobile Belt represents the boundary of Laurentia and Gondwanaland at the start of the Appalachian-Caledonian Orogeny. The oldest unit in the Twillingate area is the Cambrian Sleepy Cove Formation mafic pillow flows and breccias mixed with minor silicic volcaniclastics. The Twillingate Granitoid, a high-soda trondjhemite characteristic of ophiolite assemblages intruded the mafic formation. Zircon age-dates place the granitoid as Late Cambrian (510 m.y.). Amphibolite dykes intrude the granitoid and mafic units with Lower Ordovician zircon ages. The ophiolite assemblages in the Notre Dame Subzone host a number of copper-rich deposits that have been mined in west-central Newfoundland.
Local Geology
The property claims cover the majority of North Trump Island and includes mainly Sleepy Cove mafic pillow basalts and breccias which have been retro-metamorphosed to chlorite-sericite-epidote schist foliated subparallel with the contact with the Twillingate granitoid. Mineralisation, as is currently known, occurs as chalcopyrite, pyrite, and pyrrhotite in quartz vein networks and high-sulphide lenses (Clymo Shaft).
Exploration Program
The initial exploration program will include additional sampling from the historic shaft area along with geological mapping and local scale electromagnetics. Based on successful results from these works, a drilling program would be planned for summer, 2017.
Purchase Consideration
In consideration for the purchase, the Company will issue to the Vendors an aggregate of 200,000 common shares at a deemed value of $0.195 per common share on the closing date. The Property is subject to a 2.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} net smelter return royalty payable by the Company to the Vendors.
NI 43‐101 Disclosure
Edward Lyons, P. Geo. supervised the preparation of the technical information in this news release and is a
Qualified Person as defined by National Instrument 43‐101.
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
E: Brad@kingsbayres.com
- Published in King's Bay, News Home
Klondike Silver Announces Private Placement 17.01.17
Vancouver, Canada / TheNewswire / January 17, 2017 – Klondike Silver Corp. (the “Company”) (TSX.V: KS) announces that it is raising up to $1,000,000 through a non-brokered private placement (the “Private Placement”) of up to 20,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant, with each warrant exercisable for a period of five years from the closing at a price of $0.05 per share. All Units are subject to a four-month hold period from the date of issuance. Commissions may be paid on a portion of the funds raised.
Completion of the Private Placement is subject to the approval of the TSX Venture Exchange.
The net proceeds will be used for advancing the Sandon B.C. project, located 80 KM north of the Trail B.C. smelter, and for general working capital.
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 CEO
“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.”
Suite 804 – 750 West Pender Street T: 604.682.2928
Vancouver, B.C., V6C 2T7 Canada F: 604.685.6905
www.KlondikeSilver.com TSXV: KS / FSE: K1SN
Copyright (c) 2017 TheNewswire – All rights reserved.
- Published in Klondike Silver Corp., Mining, News Home
Puma Exploration (PUM:tsxv) Releases NI 43-101 Murray Brook Resource Estimate
Puma Exploration Releases NI 43-101 Measured and Indicated Sulphide Mineral Resource Estimate at Murray Brook Deposit Containing 610Mlbs of Zinc @ 5.24{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn
– Momentum Public Relations –
Press Release: December 21, 2016
In its ongoing plan of action to acquire the Murray Brook Property, Puma Exploration Inc. (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce completion of a Mineral Resource Estimate on the Murray Brook Deposit located in the Bathurst Mining Camp (BMC) in Northern New Brunswick, Canada. A technical report will be filed on SEDAR within 45 days of this news release.
Highlights:
- The underground Sulphide Mineral Resource Estimate is comprised of Measured and Indicated Mineral Resources totaling 5.28 million tonnes averaging 5.24{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 1.80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb, 0.46{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 68.9 g/t Ag and 0.65 g/t Au.
- The Murray Brook Deposit (“MBD”) contains 610 Mlbs of Zinc, 209 Mlbs of Lead, 54 Mlbs of copper, 11.7 Moz of silver and 111 Koz of gold at a C$85 per tonne NSR cut-off in the Sulphide Measured and Indicated categories.
- Oct 31/16 two year trailing average metal prices for Zn (US$0.90/lb), for Pb (US$0.82/lb), for Cu (US$2.39/lb) with a $US/$C Exchange Rate $0.78 were used for calculating the Mineral Resource Estimate.
- The Measured and Indicated Mineral resource categories represent respectively 68{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the total Sulphide Mineral Resource Estimate and will be used to launch a PEA for underground mining operation in the first half of 2017.
- Metal recoveries to concentrate of Zn (89{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}), Pb (37{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}), Cu (51{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) Ag (55{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) and Au (0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) were used for calculating the Mineral Resource Estimate.
- The deposit starts at surface and continues, so far, to a depth of 300 meters and is open at depth and along strike with drill ready UTEM geophysical targets.
The Murray Brook Property (jointly the Mining Lease 252 and the contiguous 245 mineral Claim Block 4925/ the Camel Back Property) is located 4 km west of the producing Caribou Mine owned and operated by Trevali Mining Corporation.
The Murray Brook Deposit is hosted by sedimentary rocks of the Charlotte Brook Member in the lower part of the Mount Brittain Formation. The upper felsic volcanic member of the Mount Brittain Formation is host to the Restigouche deposit, some 10 km to the west. The Mount Brittain Formation is believed to be equivalent of the Spruce Lake Formation which hosts the Caribou Mine, 10 kilometres to the east. Many drill ready geophysical and geochemical targets will be tested during the second half of 2017.
2016 Mineral Resource Estimate
The Technical Report incorporates P&E’s NI 43-101 Mineral Resource Estimate for sulphide and oxide mineralization at a C$85/t Net Smelter Return (“NSR”) cut-off that is summarized in Table 1.
Table 1 Murray Brook Underground Mineral Resource Estimate at C$85/t NSR Cut-Off(1-4) |
||||||||||||
Zone | Category | Tonnes (‘000’s) |
Cu {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Cu M lb |
Pb {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb M lb |
Zn {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn M lb |
Au g/t |
Au K oz |
Ag g/t |
Ag M oz |
Oxide | Measured | 434 | 1.13 | 10.8 | 1.44 | 13.8 | 4.51 | 43.2 | 0.31 | 4.3 | 60.5 | 0.8 |
Indicated | 105 | 1.94 | 4.5 | 0.82 | 1.9 | 2.84 | 6.6 | 0.46 | 1.6 | 45.3 | 0.2 | |
M+I | 539 | 1.29 | 15.3 | 1.32 | 15.7 | 4.19 | 49.8 | 0.34 | 5.9 | 57.5 | 1.0 | |
Inferred | 4 | 3.94 | 0.3 | 0.19 | 0.0 | 0.62 | 0.0 | 0.46 | 0.1 | 26.6 | 0.0 | |
Sulphide | Measured | 3,681 | 0.36 | 29.0 | 1.87 | 151.9 | 5.57 | 451.7 | 0.56 | 65.8 | 70.5 | 8.3 |
Indicated | 1,603 | 0.70 | 24.8 | 1.63 | 57.4 | 4.48 | 158.4 | 0.88 | 45.1 | 65.3 | 3.4 | |
M+I | 5,284 | 0.46 | 53.8 | 1.80 | 209.3 | 5.24 | 610.1 | 0.65 | 110.9 | 68.9 | 11.7 | |
Inferred | 125 | 2.16 | 5.9 | 0.92 | 2.5 | 2.58 | 7.1 | 0.54 | 2.2 | 47.3 | 0.2 |
(1) | Mineral Resources which are not mineral reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. |
(2) | The quantity and grade of reported Inferred Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as an Indicated or Measured Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category. |
(3) | The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council. |
(4) | “M” means millions; “K” means thousands. |
The Mineral Resource Estimate classification was determined with the Zn grade interpolation since Zn generated the highest proportionate NSR value in the block model. The zinc price used in the Mineral Resource Estimate was US$0.90/lb. The Mineral Resource Estimate is primarily sensitive to zinc price. The NSR underground cut-off Mineral Resource Estimate sensitivity to the November 30th-2016 spot metal prices are tabulated in Table 2.
Table 2 Murray Brook Underground Spot Metal Price (Nov 30/16) Sensitivity to Resource Estimate at C$85/t NSR Cut-Off |
||||||||||||
Zone | Category | Tonnes (‘000’s) |
Cu {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Cu M lb |
Pb {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb M lb |
Zn {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn M lb |
Au g/t |
Au K oz |
Ag g/t |
Ag M oz |
Oxide | Measured | 595 | 1.05 | 13.7 | 1.24 | 16.3 | 3.88 | 50.9 | 0.33 | 6.2 | 52.7 | 1.0 |
Indicated | 172 | 1.43 | 5.4 | 0.82 | 3.1 | 2.62 | 10.0 | 0.53 | 2.9 | 42.2 | 0.2 | |
M+I | 767 | 1.13 | 19.2 | 1.14 | 19.4 | 3.60 | 60.9 | 0.37 | 9.2 | 50.3 | 1.2 | |
Inferred | 4 | 3.84 | 0.3 | 0.18 | 0.0 | 0.59 | 0.1 | 0.44 | 0.1 | 26.0 | 0.0 | |
Sulphide | Measured | 6,157 | 0.36 | 48.5 | 1.50 | 202.9 | 4.38 | 593.8 | 0.55 | 108.3 | 58.0 | 11.5 |
Indicated | 3,512 | 0.61 | 47.3 | 1.26 | 97.7 | 3.28 | 254.1 | 0.88 | 98.8 | 53.2 | 6.0 | |
M+I | 9,669 | 0.45 | 95.7 | 1.41 | 300.6 | 3.98 | 847.9 | 0.67 | 207.0 | 56.3 | 17.5 | |
Inferred | 188 | 1.85 | 7.6 | 0.81 | 3.4 | 2.24 | 9.3 | 0.56 | 3.4 | 42.7 | 0.3 |
Puma’s projections for 2017 in view of the purchase of the Murray Brook Deposit are as follows:
- Produce a new PEA (Preliminary Economic Assessment) during the first half of 2017 for HIGH GRADE ZINC zones of the sulphide portion of the deposit contained in the current Mineral Resource Estimate.
- Proceed with additional advanced recovery (metallurgical) tests on the Deposit’s mineralization, focusing on GOLD and SILVER recovery with the objective of establishing the economic value of the deposit.
- Proceed with a drilling exploration program to delineating the size of the deposit and potentially add more deposits along strike in the direction of the Caribou Mine.
Mineral Resource Estimate Methodology
The NI 43-101 Mineral Resource Estimate for sulphide and oxide mineralization at a C$85/t Net Smelter Return (“NSR”) cut-off is summarized in table 1. The drilling database of the Murray Brook Project contains 10,045 samples, all of which were analyzed for copper (“Cu”){92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, lead (“Pb”){92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, zinc (“Zn”){92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, gold (“Au”) g/t and silver (“Ag”) g/t. A total of 7,964 assays from 141 drill holes have been utilized for the Mineral Resource Estimate. The drilling was carried on between 2010 to 2013.
The Murray Brook resource block model was constructed using Gemcom modeling software. The block model is oriented with X axis at 110° azimuth with 3m x 3m x 3m blocks. Inverse Distance Squared (1/d²) grade interpolation was utilized for the Cu, Pb and Zn grade interpolation on capped composites while Inverse Distance Cubed (1/d3) was used for the Au and Ag grade interpolation on uncapped composites. The average block-model mineralized bulk density was calculated to be 4.08 tonnes per cubic metre.
The resource model classification was determined from the Zn interpolation due to Zn generating the highest proportionate contribution to the NSR value in the block model. Based on the semi-variogram performance and density of the drilling data, the Measured Mineral Resource category was justified for blocks interpolated by the first pass using at least seven composites from a minimum of four drill holes within a spacing of 25 m along strike, 40 m down dip and 15 m on the across dip direction. Indicated Resources were classified to the blocks interpolated with the second pass; wheras Inferred Resources were categorized for all remaining unclassified blocks. The classifications of some blocks have been manually adjusted to represent the resource classification more reasonably.
The underground NSR block values were based on two year trailing average metal prices as of October 31, 2016, including Cu at US$2.39/lb, Pb at US$0.82/lb, Zn at US$0.90/lb, Au at US$1,200/oz, Ag at US$16.33/oz, and a $US/$CDN Exchange Rate of $0.78. Taking into consideration concentrate recoveries, refining charges, smelter payables, concentration ratio, smelter treatment charges, humidity factors and concentrate freight charges. The NSR value of the mineralized blocks was calculated using the following formula:
NSR = [(Cu{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} x 24.65) + (Pb{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} x 7.49) + (Zn{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} x 14.98) + (Au x 0.0) + (Ag x 0.24)) – 9.02]/0.78
The projected process recovery, smelter payable, concentrate, transportation and other parameters used in the NSR calculation are as follows:
Cu Concentrate Recovery | 51{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn Concentrate Recovery | 89{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb Concentrate Recovery | 37{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Ag Concentrate Recovery | 55{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Au Concentrate Recovery | 0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Concentrate Ratio | 54:1 |
Cu Smelter Payable | 95{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb Smelter Payable | 95{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn Smelter Payable | 85{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Ag Smelter Payable | 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Au Smelter Payable | 0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Trucking/Storage/Ship Loading | US$30/t per WMT |
Zn Smelter Treatment Charge | US$150/t per DMT |
Cu Smelter Treatment Charge | US$100/t per DMT |
Pb Smelter Treatment Charge | US$140/t per DMT |
Concentrate Humidity Factor | 8.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
These data were derived from the metallurgical reports and other underground mining operations similar to that anticipated at Murray Brook.
The C$85/tonne NSR Mineral Resource Estimate cut-off was derived as follows:
C$57/tonne Mining cost |
C$24/tonne Process cost |
C$4/tonne G&A cost |
The NSR cut-off sensitivities to the Underground Mineral Resource Estimate are tabulated in Table 3.
Table 3 Sensitivity to Underground Mineral Resource Estimate of the Murray Brook Project |
|||||||||||||
Zone | Category | Cut-Off | Tonnage | Cu | Cu | Pb | Pb | Zn | Zn | Au | Au | Ag | Ag |
NSR C$/t | tonnes | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | M lb | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | M lb | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | M lb | g/t | K oz | g/t | M oz | ||
Oxide | Measured | 150 | 162,150 | 1.16 | 4.2 | 2.07 | 7.4 | 6.37 | 22.8 | 0.28 | 1.5 | 82.5 | 0.4 |
125 | 246,915 | 1.16 | 6.3 | 1.81 | 9.9 | 5.65 | 30.7 | 0.29 | 2.3 | 73.4 | 0.6 | ||
100 | 353,004 | 1.15 | 9.0 | 1.58 | 12.3 | 4.94 | 38.5 | 0.30 | 3.4 | 65.4 | 0.7 | ||
85 | 434,447 | 1.13 | 10.8 | 1.44 | 13.8 | 4.51 | 43.2 | 0.31 | 4.3 | 60.5 | 0.8 | ||
70 | 529,563 | 1.09 | 12.7 | 1.31 | 15.3 | 4.11 | 47.9 | 0.32 | 5.4 | 55.6 | 0.9 | ||
60 | 608,171 | 1.06 | 14.2 | 1.22 | 16.3 | 3.81 | 51.1 | 0.33 | 6.4 | 52.2 | 1.0 | ||
Indicated | 150 | 23,945 | 3.09 | 1.6 | 0.91 | 0.5 | 3.41 | 1.8 | 0.36 | 0.3 | 49.9 | 0.0 | |
125 | 47,425 | 2.74 | 2.9 | 0.82 | 0.9 | 3.07 | 3.2 | 0.37 | 0.6 | 46.7 | 0.1 | ||
100 | 76,518 | 2.29 | 3.9 | 0.81 | 1.4 | 2.93 | 4.9 | 0.41 | 1.0 | 46.0 | 0.1 | ||
85 | 105,137 | 1.94 | 4.5 | 0.82 | 1.9 | 2.84 | 6.6 | 0.46 | 1.6 | 45.3 | 0.2 | ||
70 | 141,525 | 1.64 | 5.1 | 0.83 | 2.6 | 2.71 | 8.5 | 0.51 | 2.3 | 43.6 | 0.2 | ||
60 | 173,484 | 1.45 | 5.6 | 0.81 | 3.1 | 2.58 | 9.9 | 0.53 | 2.9 | 42.0 | 0.2 | ||
Inferred | 150 | 1,503 | 4.49 | 0.1 | 0.19 | 0.0 | 0.86 | 0.0 | 0.51 | 0.0 | 29.4 | 0.0 | |
125 | 2,271 | 4.34 | 0.2 | 0.19 | 0.0 | 0.76 | 0.0 | 0.50 | 0.0 | 28.7 | 0.0 | ||
100 | 3,215 | 4.08 | 0.3 | 0.18 | 0.0 | 0.63 | 0.0 | 0.47 | 0.0 | 26.7 | 0.0 | ||
85 | 3,595 | 3.94 | 0.3 | 0.19 | 0.0 | 0.62 | 0.0 | 0.46 | 0.1 | 26.6 | 0.0 | ||
70 | 3,917 | 3.82 | 0.3 | 0.18 | 0.0 | 0.59 | 0.1 | 0.44 | 0.1 | 25.9 | 0.0 | ||
60 | 3,917 | 3.82 | 0.3 | 0.18 | 0.0 | 0.59 | 0.1 | 0.44 | 0.1 | 25.9 | 0.0 | ||
Sulphide | Measured | 150 | 1,318,497 | 0.33 | 9.7 | 2.71 | 78.8 | 8.05 | 234.0 | 0.63 | 26.5 | 99.3 | 4.2 |
125 | 1,910,405 | 0.34 | 14.1 | 2.41 | 101.3 | 7.19 | 302.8 | 0.59 | 36.3 | 88.5 | 5.4 | ||
100 | 2,819,661 | 0.35 | 21.5 | 2.08 | 129.5 | 6.23 | 387.4 | 0.56 | 51.1 | 77.4 | 7.0 | ||
85 | 3,680,679 | 0.36 | 29.0 | 1.87 | 151.9 | 5.57 | 451.7 | 0.56 | 65.8 | 70.5 | 8.3 | ||
70 | 4,953,664 | 0.37 | 40.5 | 1.65 | 180.0 | 4.85 | 529.2 | 0.55 | 88.2 | 63.4 | 10.1 | ||
60 | 6,072,003 | 0.38 | 51.0 | 1.50 | 200.5 | 4.37 | 585.3 | 0.55 | 107.4 | 58.5 | 11.4 | ||
Indicated | 150 | 368,910 | 0.45 | 3.6 | 2.97 | 24.2 | 8.10 | 65.9 | 1.00 | 11.9 | 105.7 | 1.3 | |
125 | 585,896 | 0.60 | 7.7 | 2.42 | 31.2 | 6.80 | 87.9 | 0.89 | 16.7 | 88.4 | 1.7 | ||
100 | 1,032,294 | 0.69 | 15.7 | 1.90 | 43.3 | 5.40 | 123.0 | 0.85 | 28.3 | 73.2 | 2.4 | ||
85 | 1,602,774 | 0.70 | 24.8 | 1.63 | 57.4 | 4.48 | 158.4 | 0.88 | 45.1 | 65.3 | 3.4 | ||
70 | 2,669,331 | 0.66 | 38.8 | 1.38 | 81.3 | 3.64 | 214.1 | 0.89 | 76.6 | 57.7 | 5.0 | ||
60 | 3,548,682 | 0.64 | 50.0 | 1.25 | 97.9 | 3.23 | 252.5 | 0.88 | 100.5 | 53.2 | 6.1 | ||
Inferred | 150 | 31,661 | 2.14 | 1.5 | 1.67 | 1.2 | 4.66 | 3.2 | 0.63 | 0.6 | 70.6 | 0.1 | |
125 | 53,133 | 2.33 | 2.7 | 1.31 | 1.5 | 3.74 | 4.4 | 0.58 | 1.0 | 59.4 | 0.1 | ||
100 | 92,588 | 2.29 | 4.7 | 1.02 | 2.1 | 2.92 | 6.0 | 0.55 | 1.6 | 50.7 | 0.2 | ||
85 | 124,834 | 2.16 | 5.9 | 0.92 | 2.5 | 2.58 | 7.1 | 0.54 | 2.2 | 47.3 | 0.2 | ||
70 | 167,127 | 1.98 | 7.3 | 0.82 | 3.0 | 2.28 | 8.4 | 0.55 | 2.9 | 43.8 | 0.2 | ||
60 | 201,151 | 1.84 | 8.2 | 0.77 | 3.4 | 2.13 | 9.4 | 0.55 | 3.6 | 41.4 | 0.3 |
About Puma Exploration Inc.
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and an equity interest in Black Widow Resources related to the Little Stull Lake Gold Project in Manitoba. Puma’s objective for the coming year is to focus its exploration efforts in New Brunswick. Canada.
You can visit us on Facebook and Twitter.
Learn more by consulting www.pumaexploration.com for further information on Puma Exploration Inc.
Qualified Persons Statement
Eugene Puritch, P.Eng. and Yungang Wu, P.Geo. are the Independent Qualified Persons responsible for the Murray Brook Deposit underground Mineral Resource Estimate disclosed in this press release.
Eugene Puritch, P.Eng., President of P&E Mining Consultants Inc. has. reviewed and approved the technical contents of this press release. The contents of this press release were prepared by Marcel Robillard, P.Geo., a Qualified Person as defined in NI 43-101. 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.
- Published in Mining, News Home, Puma Exploration
Puma Exploration to Acquire 100 of Murray Brook Deposit and Significant Land Package
Puma Exploration to Acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of Murray Brook Deposit and Significant Land Package in the Brunswick Belt in New Brunswick
– Momentum Public Relations –
Press Release: October 13, 2016
Puma Exploration (TSX VENTURE:PUM)(SSE:PUMA) is pleased to announce that it has executed an asset purchase agreement with Votorantim Metals Canada Inc. and signed a letter of intent with El Nino Ventures (ELN-V) to acquire, respectively, approximatively 67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and 32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interest in the Murray Brook Zn-Pb-Cu-Ag Volcanogenic Massive Sulphide (“VMS”) deposit located in the famous Bathurst Mining Camp (“BMC”) of northern New Brunswick. The Murray Brook property consists of Mining Lease 252 and contiguous Mineral Claim Block 4925 (245 claims) located 4 km west of the producing Caribou Mine, which is owned and operated by Trevali Mining Corporation. Both of the aforementioned transactions are expected to close on or about November 15th, 2016.
HIGHLIGHTS:
• The Murray Brook deposit contains historical resources of 1 billion pounds (lbs) of zinc, 183 million lbs of copper, 390 million lbs of lead, 23.9 million ounces (“oz”) silver and 338,000 oz. of gold within historical Measured and indicated Resources of 17,884,000 tons @ 2.73{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0.47{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.99{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb, 41.7 grams per ton (“g/t Ag”) and 0.59 g/T Au. The historical resource estimates were prepared for Votorantim Metals Canada Inc in accordance with NI43-101. in 2012 from 132 holes and use terminology compliant with current reporting standards. Puma has not made any attempt to re-classify the estimates according to current standards of disclosure and is not treating the estimate as current mineral resources or mineral reserves. Investors are cautioned that “historical resources” are considered conceptual in nature and there is no guarantee that historic “potential resources” will be able to be converted into current NI43-101 resource categories or demonstrate economic viability. A qualified person has no done sufficient work to classify the historical estimate as current mineral resources.
• Preliminary metallurgical tests indicated recoveries of up to 88{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zinc.
• Gravity and soil geochemical targets exist along strike from the Murray Brook deposit and there are high priority drill-ready targets in favorable stratigraphy and along strike from the nearby Caribou Mine within Mineral Claim Block 4925.
Marcel Robillard, president of Puma, said “I am very pleased that we have been able to reach agreement with Votorantim Metals Canada Inc. and El Nino Ventures Inc. to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Murray Brook deposit and look forward to completing the definite transactions by November 15th, 2016. The next step will be to update the historical Resources Estimate done in 2012 and the PEA released in 2013 to show the actual metal prices. This acquisition is another step to become a leader in Zinc Exploration in New Brunswick and it is a substantial addition to our portfolio of base metals projects in New Brunswick, which include the Turgeon, Nicholas-Denys and the newly acquired Red Brook projects.”
The Murray Brook VMS deposit is hosted within a sheath fold; enveloped by a halo of chlorite-sericite alteration. There are 2 distinct lenses to the deposit; a western lens, which is deeper and zinc-rich, and an eastern lens that is shallower and copper-rich with some zinc. The bottom of the deposit is approximately 350 meters below surface.
Table 2. Selected drill-hole intersections at Murray Brook Deposit
Hole ID | From (m) |
To (m) |
Interval (m) |
Cu {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Pb {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Zn {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
Au (g/t) |
Ag (g/t) |
MB-2012-138 | 182.00 | 226.00 | 44.00 | 0.19 | 4.90 | 9.16 | 0.68 | 164 |
MB-2011-52 | 181.00 | 224.00 | 43.00 | 0.29 | 3.64 | 8.51 | 0.99 | 118 |
MB-2012-132 | 165.00 | 200.00 | 35.00 | 0.14 | 3.48 | 10.35 | 1.36 | 121 |
MB-2012-110 | 108.00 | 154.00 | 46.00 | 0.08 | 1.46 | 6.96 | 0.23 | 57 |
MB-2011-49 | 118.00 | 157.00 | 39.00 | 0.32 | 3.22 | 7.67 | 1.39 | 120 |
MB-2012-107 | 60.00 | 93.00 | 33.00 | 0.10 | 2.63 | 8.66 | 0.33 | 109 |
MB-2012-70 | 211.00 | 234.00 | 23.00 | 0.41 | 4.74 | 11.94 | 1.56 | 153 |
MB-2012-90 | 165.00 | 189.00 | 24.00 | 0.13 | 4.22 | 11.10 | 0.74 | 160 |
MB-10-16 | 44.00 | 71.00 | 27.00 | 0.47 | 3.39 | 9.56 | 0.12 | 122 |
MB-2011-39 | 190.00 | 210.00 | 20.00 | 0.18 | 3.82 | 10.90 | 1.34 | 115 |
MB-2011-30 | 55.00 | 78.00 | 23.00 | 0.14 | 3.03 | 8.93 | 0.46 | 131 |
The Murray Brook VMS deposit is hosted within sedimentary rocks of the Mount Brittain formation. Recent geological mapping has identified exposures of the same rocks to the east of the deposit (on Mineral Claim Block 4925), that have not been recognized in the past. Notably, several gravity anomalies defined by a recent ground survey as well as a number of lead-zinc in-soil anomalies are coincident with the mapped exposures of the Mount Brittain formation and provide excellent targets for diamond drilling in efforts to find additional mineralization. Of note, the Murray Brook VMS deposit shows up prominently as a strong gravity anomaly coincident with strong lead and zinc in-soil values. Additionally, large-loop electromagnetic surveys (Pulse EM) are warranted in the immediate locale of the deposit itself and along strike from it, to assist in finding satellite deposits to the known mineralization.
Terms of the transactions:
Puma will acquire Votorantim Metals Canada Inc.’s 67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interest and El Nino Ventures Inc.’s 32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interests in the Murray Brook property by concluding two (2) distinct transactions.
To acquire Votorantim Metals Canada interest (67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce})
a. C$1.0 million upon closing (no later than November 15th, 2016)
b. C$2.0 million payable 12 months from closing
c. C$3.0 million upon the earliest of commercial production or September 30th, 2019,
plus a laddered NSR starting at 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} at a zinc price of US$1.04/lb and increasing, in increments of 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, to a maximum of 1.75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} above US$1.50/lb Zn in relation to 67.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the production from the Murray Brook Property, which includes the Mining Lease and the Camel Back claims, for actual Murray Brook deposit and any new discovery for their respective life of mine.
Additionally, Puma will assume and fund Votorantim Metals Canada Inc.’s liability for the C$2 million Environmental Bond Letter of Credit with the New Brunswick government and assume the C$3 million + 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} NSR or the 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} NSR, December 2017 option payment obligation to Murray Brook Minerals.
To acquire El Nino Ventures’s interest (32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce})
a. C$50,000 non-refundable deposit to be paid 10 days following the waiver of the ROFR from El Nino. This deposit becomes binding on receipt of the waiver of the ROFR from El Nino.
b. C$0.6 million upon closing of this transaction (no later than Nov.15th, 2016)
c. C$0.4 million payable six (6) months after the closing (no later than May.15th, 2017)
d. C$1.0 million payable twelve (12) months from closing (no later than Nov.15th, 2017)
e. C$1.0 million payable twelve (24) months from closing (no later than Nov.15th, 2018)
f. 2,000,000 warrants given the right to buy 2,000,000 Puma’s ordinary shares expiring 3 year after the closing of the transaction based on the following exercise prices:
1) 0 to Year 1 (Nov 15, 2017): Equal to the price of the acquisition equity financing;
2) Year 1 to Year 2 (Nov 15, 2018): a 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} premium to the price indicated in 1) above;
3) Year 2 to Year 3: a 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} premium to the price indicated in 2) above,
plus a laddered NSR starting at 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} at a zinc price of US$1.04/lb and increasing, in increments of 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, to a maximum of 1.75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} above US$1.50/lb Zn in relation to 32{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the production from the Murray Brook Property, which includes the Mining Lease and the Camel Back claims, for actual Murray Brook deposit and any new discovery for their respectively LOM.
Votorantim Metals Canada Inc. will retain title to the project as security until the assumption of the environmental liability has been completed and Votorantim Metals Canada Inc.’s liability is released by the Government of New Brunswick.
About BMC
The BMC is a well-established mining district hosting numerous mines with infrastructures mines and deposits including the Brunswick No. 12 deposit, having produced zinc, lead, silver and gold for well over 60 years. In addition to Brunswick No. 12, there are more than 30 other massive sulphide deposits and numerous prospects in the BMC, attesting to its vast world-class endowment and mineral potential.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick. Canada.
To view the maps associated with this press release, please visit the following links:
Puma Exploration Acquisition: http://media3.marketwire.com/docs/490_Acquisition.pdf
Geophysical Targets on Murray Brook Claims: http://media3.marketwire.com/docs/490_GphTargets.pdf
You can visit us on Facebook and Twitter.
Learn more by clicking here: www.pumaexploration.com
- Published in Mining, News Home, Puma Exploration
Riverbed Stabilization and Tailings Pond Work Completed LIDAR Survey Commencing
October 12, 2016 / TheNewswire / Vancouver, Canada (TSX.V: KS) Further to the News Release dated August 31, 2016, Klondike Silver’s team, supervised by Golder Associates has successfully completed the armouring the southside of Carpenter Creek for 800 meters in order to mitigate the risk of the creek overflowing it banks and potentially damaging Klondike Silver’s surface infrastructures. This work was required by the British Columbia Ministry of Energy and Mines and approved by Fisheries and Oceans Canada and the British Columbia Ministry of Forests Lands and Natural Resources.
Golder Associates has completed the field work necessary to provide a current Annual Dam Safety Inspection Report for filing with the British Columbia Ministry of Energy and Mines. Golder Associates will utilize the inspection work to delineate a Dam Break Study which will assist Klondike Silver in carrying out further work necessary to comply with Ministry of Energy and Mines in regard to the Company’s tailings dams.
LIDAR Survey
Klondike Silver is in the process of conducting a LIDAR ( L ight I maging, D etection, A nd R anging) survey to be flown over the entire set of the Company’s claims. This technology uses a narrow laser beam to map physical features at a very high resolution, in UTM NAD83 coordinates. Klondike Silver’s goal is to use this survey as part of the plan to uncover new economic silver-lead-zinc mineralization in this under-explored area of British Columbia. New discoveries will enable the Company to put the property back into production.
The LIDAR survey will provide Klondike Silver with high resolution topography which will accurately delineate surface features such as roads, old mine dumps, portals, buildings, etc., that were unobtainable, in the past. A three dimensional (3D) map will be generated, for the first time in the Camp’s history. Historic workings and geological features, originally mapped on paper in numerous local mine grids will be digitized and translated into NAD83 coordinates. This data will be added to the 3D topographical map to generate geological models of the known lodes (veins) and other geological structures. These 3D geological models can then be extrapolated to identify new drill targets.
New surface exploration programs recommended in the 2016 NI 43-101 technical report will utilize the 3D map to uncover new, near-surface mineralization, on the Company’s property.
About Klondike Silver
Mr. Richard Hughes, Chairman of Klondike Silver’s Technical Advisory Board identified and initiated the purchase and staking of mineral claims in the Slocan Silver Camp commencing in approximately the year 2000. The Camp was fragmented among many owners throughout its history. Klondike Silver’s land package has grown in size to over 100 km 2 , to become the largest land package in the Slocan Silver Camp. Based on the British Columbia MINFILE mineral database, sixty eight (68) of the one hundred and seventy three (173) past producing mines in the Slocan Silver Camp are located in the Klondike Silver land package. Klondike Silver has created the first real opportunity to invest and properly explore a sizeable portion of one of the most historic mining camps in British Columbia.
The scientific and technical disclosure in this news release has been reviewed and approved by David Makepeace, P.Eng., Senior Geologist – Environmental Engineer for Micon International Limited, who is an independent consultant to the Company and qualified person as defined in NI 43-101.
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
CEO
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) 2016 TheNewswire – All rights reserved.
- Published in Klondike Silver Corp., Mining, News Home
Klondike Silver Engages Investor Relations Individual
September 29, 2016 Vancouver, Canada Klondike Silver Corp. (the “Company”) (TSX.V: KS) has engaged Gordon James to provide investor relations services. Mr. James will focus on expanding the Company’s communications with investors. Under the terms of the contract, subject to regulatory approval, the Company will pay Mr. James $1,000 per month and reimburse pre-approved expenses. The contract term is for 24 months and may be cancelled by either party, after four months, by giving 30 days notice.
Mr. James currently holds 250,000 Company stock options previously issued for consulting services. “Mr. James will be a great help in expanding our audience as we move forward with our Slocan Silver Camp in southeastern British Columbia.” said Thomas Kennedy, CEO.
About Gordon James
Mr. James is an independent businessman living in British Columbia, Canada. He works raising investors’ awareness of publicly traded companies. He is primarily focused on the mining sector. About Klondike Silver Mr. Richard Hughes, Chairman of Klondike Silver’s Technical Advisory Board identified and initiated the purchase and staking of mineral claims in the Slocan Silver Camp commencing in approximately the year 2000. The Camp was fragmented among many owners throughout its history.
Klondike Silver’s land package has grown in size to over 100 square km, to become the largest land package in the area. The Slocan Mining camp is one of the few remaining under-explored mining camps in Canada. Klondike Silver has created the first real opportunity to invest and properly explore a sizeable portion of one of the most historic mining camps in British Columbia. 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 CEO
“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 Klondike Silver Corp., Mining, News Home
Puma Exploration Inc. (PUM:tsxv) More Massive Sulphides Drilled at Turgeon VMS Project
Puma Exploration Inc.: More Massive Sulphides Drilled at Turgeon VMS Project in New Brunswick
– Momentum Public Relations –
Press Release: September 14th, 2016
Puma Exploration (PUM:tsxv)(PUMA:SSE) has completed its summer drilling program at Turgeon VMS project in Northern New Brunswick. The program included five (5) holes for a total of 2,569 meters. Three holes were directed to verify the IP geophysical targets located 500 meters south-west of the Dragon lens in an underexplored area of the favourable horizon and the two (2) others were drilled to define the extent and the size of the dragon zone.
Dragon Zone
Hole FT16-03 extended the size of the Dragon lens with an intersection of a massive to semi-massive sulphide zone of 7 meters at 107.2 meters. This mineralized zone contains 1.4 meters with 1.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 0.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn and extended over 40 meters to the south, the size of the initial discovery of the Dragon zone in hole FT13-13 who intersected 1.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 0.79{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over four (4) meters.
Hole FT16-03 intersected at 147 meters, 20.5 meters of chalcopyrite-pyrite stockwork zone within pervasive black chlorite alteration grading respectively 6.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu et 1.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 0.5 meters in individual samples. This copper zone is interpreted to be part a major Cu stockwork associated with the Massive sulphide lens intersected at the Dragon grading 10.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 2.7 meters, 4.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 4.0 meters, 4.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn et 1.04{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 3.2 meters and 1.01{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 4.0 meters in the 2015 drilling program. Also, at the end of the hole, polymetallic sulphide veins similar to the Nigadoo Veins type were encountered and showing rich Ag-Pb-Zn veins with respectively 146 g/t Ag, 2.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb and 1.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 1.2 meters and 39 g/t Ag, 0.48{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Pb and 1.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 1.1 meters.
Hole FT16-05 intersected 15 meters of semi-massive to massive sulphide cutted by mafic dykes from 234 to 249 meters. This mineralisation zone is located 50 meters under the Dragon 2 zone and it is mainly composed of pyrite and chalcopyrite. Another sulphide zone was located from 318 meters to 336 meters which included a zone with 1.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn over 1.7 meters. At the end of the hole FT16-05, a new 10 meters long copper stockwork zone within dark chlorite alteration has been encountered and grading 0.32{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu over 10.0 meters. Once again, this copper stockwork is interpreted to be associated with a massive sulphide body within the VMS deposits.
IP geophysical Target
The holes FT16-01 and FT16-02 were located 200 meters south-west of the new Dragon and were directed to test a deep IP target and also to locate the favourable horizon in the extent of the Dragon zone within an underexplore area of the property. These holes intersected the bottom sequence of the Turgeon VMS system which is composed of an abundance of mafic dykes and intrusions in alternance with massive basalt. These holes deviated too much and didn’t reach the deep target located from 400 to 500 meters deep.
FT16-02 and FT16-04 hit, in the first 50 meters, the upper sequence of the Turgeon VMS system which is composed of the very silicified basalt unit with its typical jasper alteration (Silicified Cap). Combined with the hole FT13-09, located 50 meters west, who intersected also the top of the key unit, suggests that the mineralized corridor is located westward with a similar displacement as seen at Powerline, Zinc Zone and Dragon along synvolcanic faults.
The next step is a borehole geophysical survey in the current holes to precisely locate the best geophysical signature and detailed mapping combined with trenching program in the underexplored area located south-west of Dragon Zone to define the fertile horizon.
“Despite the strong deviation in drilling, we have succeeded in finding more massive sulphides up-to ten (10) meters thick in the extension of the Dragon Zone and also the first evidence of a complete sequence containing the massive sulphides with its associated stockwork Cu zone. Additional work is required in the south extent of the mineralized corridor that seems to have moved westward. We are very excited in the potential of finding more VMS deposits within Turgeon project “notes Marcel Robillard, president of Puma Exploration.
Update on Red Brook Zn-Cu-Au Project
Red Brook was acquired from a local prospector following discovery of a high grade Zinc Massive Sulphide outcrop in contact with an important intrusion grading up to 13{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Zn, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 2.5g/t Ag (Press release 19/01/2016). Puma’s crew has prospected the entire claim area and stripped the initial discovery. From the original size of 5 meters by 15 meters, the excavated zone is now 50 meters by 50 meters and contains a large band of massive to semi-massive sulphides inside a calcareous horizon in contact with a Devonian porphyritic granodiorite. Sample results will be released shortly.
Update on the Little Stull Lake Transaction
Black Widow Resources (BWR-TSXV) has conducted his due diligence on the Little Stull Lake Gold project in Manitoba and has informed Puma that it is satisfactory to them. Final contract edition is ongoing and the signing should be done shortly.
Annual Meeting Results
Puma Exploration held its Annual General Meeting on September 8th, at his office in Rimouski. All proposals submitted have been endorsed by shareholders. These proposals included the appointment of Directors and Auditors. Shareholders holding a total of more than 29{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the capital stock of the Company have voted on these proposals. Directors are elected to the Board with an approval rate of 98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} or more for each of the following candidates: Ms. Anne Slivitzky and Mr Marcel Robillard, Arness Cordick and Richard Thibault.
In addition, at its meeting of the Board of Directors following the AGM, Mr. Marcel Robillard was re-elected president and CEO and Mr Cordick remains Chairman of the Board of Directors. Mr. Dominique Gagné was re-elected to the position of vice-president exploration, while Ms. Ginette G. Brisson was re-elected to the positions of CFO and Secretary. Anne Slivitzky, Richard Thibault, and Marcel Robillard will form the audit committee.
About Puma Exploration
Puma Exploration is a Canadian mineral exploration company with advanced precious and base metals projects in Canada. The Company’s major assets are the Turgeon Zinc-Copper Project and the Nicholas-Denys Project in New Brunswick and their equity interest in BWR as related to the Little Stull Lake Gold Project in Manitoba. Puma is focusing its exploration efforts in New Brunswick, Canada.
- Published in Mining, News Home, Puma Exploration
Klondike Silver Intends to Revive the Slocan High-Grade Silver Camp
Vancouver, BC / TheNewswire / September 7, 2016 – Klondike Silver Corp. (the “Company”) (TSX.V: KS) is pleased to provide a summary of it s land package and exploration plans. The Klondike Silver land package covers approximately 110 square kilometers of the Slocan Silver Camp. Based on the B.C. MINFILE mineral database, sixty eight (68) of the one hundred and seventy three (173) past producing mines in the Slocan Silver Camp are located in the Klondike Silver land package.
Over 69 million troy ounces (oz) of Silver has been produced to present from the Slocan Silver Camp with 40.4 million oz of that production coming from the Klondike Silver land package. In addition over 579 million pounds (lbs) of Lead and 569 million lbs of Zinc have been produced from the Slocan Silver Camp to present, including over 349,000,000 lbs of Lead and over 159,000,000 lbs of Zinc production coming from the Klondike Silver land package.
Area Geology – A series of silver-rich veins in Slocan Group metasediments. The “Main Lode” is the largest and most prolific vein system (9 km long) in the Slocan Silver Camp.
Highlights:
-One of the few remaining under-explored mining camps in Canada.
-The Klondike Silver land package includes over half of the “Main Lode” structure and of that, 1.5 km is virtually unexplored.
-Klondike Silver is the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owner of the only 100 tonne per day mill in the area with a licenced tailings pond facility. The mill is just 140 km north of the Trail B.C. smelter.
-Claims are in good standing with the Province of British Columbia until 2023.
To ensure that Klondike Silver’s opportunity for success is maximized, key focus areas will be pursued on a concurrent basis. Klondike Silver will continue to ensure compliance with all Provincial and Federal regulatory requirements (eg. permitting, safety standards, environmental, water stewardship etc.)
Exploration
On July 4, 2016 a NI 43-101 Technical Report (dated June 28, 2016) was filed on the Canadian Securities Administrators’ SEDAR website. The Technical Report entitled “The Slocan Silver Camp, Sandon, British Columbia”, was prepared for Klondike Silver Corp. by Trygve Hoy, Ph.D; P.Eng., an independent “qualified person”. In his report Dr. Hoy recommends that underground exploration should initially focus on the projected eastern extension of the Main Lode in the Ruth-Hope mine area, and surface exploration on evaluating some of the higher grade past producers in the camp that Klondike Silver now owns.
Recommendations include:
Phase 1: Silvana Mine underground exploration
1. 4625 E Lateral, Hope Mine: rationale – projected extensions of the Main lode between 4625 Level and the 4410 E Level have not been tested; several pre-1993 underground drill holes, by a previous mine owner Treminco Resources Ltd., intersected vein mineralization in this region, but no resource nor reserve estimates were outlined. Work required includes rehabbing approximately 175 meters of the 4000 Level to provide access, drifting east on the 4625 Level approximately 100 meters, extending power from surface to the work area on the 4625 Level, and underground drilling.
Phase 1: Surface exploration
Surface exploration in the camp should be directed towards better evaluating known surface vein occurrences as well as several of the historical mines that have had little exploration since closure. Recommendations include:
1. Cody Creek area: Several past producing mines occur in the Cody Creek drainage immediately east of the Main Lodes of the Slocan camp. Work should focus on the west side of the creek, where access was difficult during the latest phase of exploration in 2010. This work should include geological mapping, a ground geophysical survey (VLF-EM), construction of an access road or trail to the Jazmine showing, and trenching.
2. Payne mine area: Re-evaluation of the soil geochemical program including trenching of spot anomalies rather than contoured soil anomalies.
3. Rambler mine area: compilation of all historical data, geological mapping and sampling of this past producing high-grade vein.
4. Sampling the Main Lode mine dumps (Ruth, Hope, Silversmith, Slocan King, Richmond-Eureka): Historically, zinc-rich mine material was sometimes considered uneconomic to process due to the metal’s price and was diverted to mine dumps. This material was usually never historically recorded. This material may be a source of mill feed when the Company has complied with Ministry of Mines requirement. It is recommended that a systematic sampling of the dumps be undertaken to determine if indeed there is sufficient zinc-rich material that can be economically processed at the Sandon mill.
Dr. Trygve Hoy has consented to the use of the above extracts from the Technical Report entitled “The Slocan Silver Camp, Sandon, British Columbia”.
About Klondike Silver
Mr. Richard Hughes, Chairman of Klondike Silver’s Technical Advisory Board identified and initiated the purchase and staking of mineral claims in the Slocan Silver Camp commencing in approximately the year 2000. The Camp was fragmented among many owners throughout its history. Klondike Silver’s land package has grown in size to over 100 square km, to become the largest land package in the area. Klondike Silver has created the first real opportunity to invest and properly explore a sizeable portion of one of the most historic mining camps in British Columbia.
The scientific and technical disclosure in this news release has been reviewed and approved by David Makepeace, P.Eng., Senior Geologist for Micon International Limited, who is an independent consultant to the Company and qualified person as defined in NI 43-101.
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
CEO, President and Director
This news release may contain 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) 2016 TheNewswire – All rights reserved.
- Published in Klondike Silver Corp., Mining, News Home