Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. The common shares of the Company are listed on the TSX Venture Exchange (TSX-V: AAL), and the Company is also traded on the OTCQX Best Market in the U.S. (OTCQX: AVLIF). The Company has acquired a 100% interest in five projects in Argentina and up to a 75% interest in a sixth, called Cauchari. Cauchari is located just 20 km south of Orocobre’s flagship Olaroz Lithium Facility.
For more information see Advantage Lithium website here
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World Class Extractions Inc. (CSE: PUMP) (“World Class” or the “Company“) is pleased to announce that it has retained the services of Mackie Research Capital Corporation (“Mackie Research“) to act as financial advisor to the Company.
Mackie Research will provide advisory services to World Class. The Company has agreed to retain Mackie Research for an initial term of three months, and the arrangement may be extended by mutual agreement.
As part of the compensation for its services, the Company will grant 3,000,000 common share purchase warrants (the “Mackie Warrants“) to Mackie Research. Each Mackie Warrant entitles the holder thereof to purchase one common share in the capital of the Company (“Common Share“) at an exercise price of $0.18 at any time up to 36 months following the date hereof. The Mackie Warrants are conditional on vesting if the daily volume weighted average trading price of the Common Shares exceeds $0.18 for 20 consecutive trading days within 6 months of issuance.
About Mackie Research Capital Corporation
Mackie is one of Canada’s largest independent full service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions and growth companies.
About World Class Extractions Inc.
The Company is a Canadian based developer of an innovative extraction process for both the hemp and cannabis industry. The Company intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, the Company’s results produce higher yields and better quality crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. The Company can save its clients floor space, utility drying costs, equipment and processing labour costs.
For further information please contact:
Chief Executive Officer
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward- looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44163
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), announced today that Dr. Raza Bokhari, Co-Chairman and Chief Executive Officer of FSD Pharma will participate in the Arcview Investor Forum being held April 23-25, 2019, in Vancouver. The event will feature leading public and private companies and thought leaders who are shaping the future of the industry.
Dr. Bokhari will be the keynote speaker and participate in panels discussing issues affecting the future of the industry, including regulatory environment, financing and consumer trends. Dr. Sara May, the recently appointed president of FV Pharma, will participate in a panel about investing in plant genetics. The forum is by invitation only. Details of the forum are as follows:
ArcView Investor Forum
April 23 – 24, 2019
The Westin Bayshore Vancouver, Canada
About FSD Pharma
FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development.
FSD facilities sit on 72 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 square feet.
FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new industry, including cultivation, legal, processing, manufacturing, extracts and research and development. For additional information on the company, please visit our website at www.fsdpharma.com.
About the Arcview Group
Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network has helped more than 1200 investors place $200 million+ behind 190 companies. Arcview Market Research has published over 20 reports analyzing and forecasting the rapidly evolving cannabis space. Arcview’s flagship annual report, “The State of Legal Marijuana Markets” has become the industry standard for market analysis and data in the sector. In 2015 Arcview became a partner in Canopy, the first seed-stage mentor-driven business accelerator. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry. Forbes Magazine recently named Arcview among the top 5 financial firms in the cannabis sector. Learn more at arcviewgroup.com.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Actual results and developments may differ materially from those contemplated by these. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE FSD Pharma Inc.
For further information: Investor Relations: Sandra Huard, Email: email@example.com, Tel.: (647) 864-7969; Media Relations: Nic Johnson, Email: firstname.lastname@example.org, Tel.: (212) 845-4242
Millennial Lithium Announces Approximately 100 Percent Increase to 4,200,000 Tonnes in Measured and Indicated Lithium Resources at Pastos Grandes
Millennial Lithium Corp. (TSXV: ML) (the “Company”), is pleased to report an updated lithium (“Li”) and potassium (“K”) resource statement for its Pastos Grandes brine project in Salta province of Argentina. The NI 43-101 resource statement, detailed in Table 1 below, includes 4,120,000 tonnes of lithium carbonate (“Li2CO3“) equivalent (LCE) and 15,342,000 tonnes of potash (“KCl”) equivalent in the Measured and Indicated Resource categories, with an additional 798,000 tonnes of LCE and 2,973,000 tonnes KCl in the Inferred Resource category. Compared to resource estimates completed by Montgomery & Associates in its previous report titled Measured, Indicated and Inferred Lithium and Potassium Resource Estimate Pastos Grandes Project Salta Province, Argentina and dated December 22, 2017, the updated resources represent an almost 100% increase in the Measured and Indicated LCE tonnage (2017 value of 2,131,000 tonnes LCE).
Farhad Abasov, President and CEO of Millennial Lithium, commented on the updated resources for the Pastos Grandes Project: “We are very excited to see from calculations by our hydrogeological consultants Montgomery & Associates, an approximately 100% increase in the Measured and Indicated lithium resources estimate over the 2017 Measured and Indicated Li resources. This sizable increase in our resource positions Millennial as one of the most prospective lithium brine projects in the world with the potential for a significant lithium operation. The Company now has significant Measured and Indicated lithium resources which, on the completion of ongoing studies, have the potential to be converted to Probable and Possible reserves in support of our Feasibility Study on the Company’s planned lithium carbonate processing operation. Our development work continues with the Feasibility Study and the construction of the pilot processing plant, both slated for completion in Q2.”
Table 1. Updated Pastos Grandes Brine Resource Statement
|Phase II Resource|
|In situ Li (tonnes)*||Li2CO3|
|In situ K|
|KCl Equivalent (tonnes)*|
*Cut-off Grade = 300mg/L Lithium
*Tonnages are rounded to the nearest thousand
The reader is cautioned that mineral resources are not mineral reserves and do not have demonstrated economic viability
The resource estimate was prepared in accordance with the guidelines of National Instrument 43-101 and uses best practice methods specific to brine resources, including a reliance on core drilling and sampling methods that yield depth-specific chemistry and effective (drainable) porosity measurements. The resource estimation was completed by independent qualified person Mr. Michael Rosko, M.Sc., C.P.G. of the international hydrogeology firm E.L. Montgomery and Associates (M&A).
The resource is defined over a 45 square kilometer footprint using results from rotary and core drilling and depth-specific packer sampling. In addition, the brine was also sampled during long-term (21 days) and short-term pumping (72 hours) tests. The new measured, indicated, and inferred resource was derived from geological and grade/width block models derived from 15,135 metres of core and rotary drilling. The average spacing between core holes is less than 1 km. Geophysical surveys were used to assist with location and anticipated depths for the core holes, but also to identify potential fresh water and to extend the inferred resource. Over most of the basin, the brine resource occurs to within 1 metre of surface and its thickness is defined by the extent of drilling. The maximum depth drilled was 641 metres near the center of the mining concessions, bottoming in a sandy aquifer. The deepest brine sample was obtained at a depth of 641 metres and had a Li concentration of 495 milligrams per litre.
The chemistry of the Pastos Grandes brine is judged to be very favourable. Brine density and the ratios of magnesium and sulfate to lithium are:
- Density of the brine ranges between 1.20 and 1.22 g/cm3
- Average Magnesium/Lithium ratio: 6.2
- Average Sulphate/Lithium ratio: 19.3
Based on the geologic model, approximately 76% of the brine volume in this resource is hosted by predominantly silty and sandy units and 21% by mixed halite. The balance is hosted in gravel or clay dominated units.
The total contained lithium and potassium values are based on measurements of effective (drainable) porosity distributed throughout the aquifer volume that defines this resource. This method of porosity determination is designed to estimate the portion of the total porosity that can theoretically be drained by pumping; however, these in situ estimates may differ from total extractable quantities. The porosity of the resource volume varies with geology but to date effective porosity has been predictable within distinct hydrostratigraphic units; the average for the entire saturated aquifer considered in the resource is approximately 11%.
Portions of the resource located in the clastic sediments at the margins of the salar have been demonstrated to have fresh and brackish water overlying brine. In these areas, fresh water inflow from the surface mixes with salt water in the basin; the resulting lower density fresh water and brackish fluid float on top of the more dense brine before entering the salar margins.
Resource Estimation Methodology
A total of 15,135 metres of drilling from 33 holes was evaluated for this resource estimate calculation. Other core holes and wells were drilled but were shallower. A total of 144 drainable porosity results and 311 depth-specific brine sample analyses were used in the computations, not including QA/QC samples or composite samples obtained during pumping tests. The average spacing of vertical samples for brine chemistry analysis was variable with an average of 25 metres for depth-specific brine samples. Of the 33 holes used for the resource analysis, all were terminated due to drill limitations (hydrogeologic basement was not encountered). The total thickness of the basin and the total thickness of saturated sediments are unknown. Based on drilling, additional brine-bearing aquifer material is likely to exist below 600 metres in the concession area.
The consultants chose to estimate the updated resource using Leapfrog Edge, a well-known 3-dimensional block modeling software tool. Hydrostratigraphic units have variable thickness and were determined by the consultants based on observed lithology and anticipated similar hydraulic properties.
The values for drainable porosity and grade (lithium and potassium values) for each hydrostratigraphic unit were derived from direct measured values from the well. The unit thicknesses combined with the areas yield a volume. The volumes combined with the drainable porosity values, representing the amount of fluid available from the formation yield the volume of brine. Applying the grade, represented as lithium carbonate and potassium chloride equivalents reported as weights by volume of brine then provides the estimated resource for each block, which are then summed.
The primary analytical laboratories for the data used in this resource are NORLAB in Jujuy, Argentina and SGS Laboratory in Buenos Aires, Argentina. Both laboratories are accredited to ISO 9001:2008 and ISO14001:2004 for their geochemical and environmental labs for the preparation and analysis of numerous sample types, including brines.
The porosity determinations were made by Core Laboratories of Houston, Texas and Geosystems Analysis (GSA) of Tucson, Arizona. Core Laboratories is a leading provider of proprietary and patented reservoir description, production enhancement and reservoir management services. Core Laboratories has demonstrated that its Quality Management System is in compliance with certification to ISO 9000:2008. The scope of this registration is: providing state of the art petrophysical and geological analysis and interpretation of core samples from rock. GSA has gained abundant experience since 1994 in methods used by Core Laboratories and has provided services to various other lithium projects located in Argentina and globally.
The resource evaluation work was completed by Mr. Michael Rosko, M.Sc., C.P.G. of Montgomery and Associates Consultores Limitada (“M&A”). Mr. Rosko is a Registered Geologist (C.P.G.) in Arizona, California, and Texas, a Registered Member of the Society for Mining, Metallurgy and Exploration, and is a qualified person (QP) as that term is defined by NI 43-101. Mr. Rosko and hydrogeologists from M&A have been on site multiple times during the various phases of drilling and sampling operations. Mr. Rosko has extensive experience in salar environments and has been a QP on many lithium brine projects. Mr. Rosko and M&A are completely independent of Millennial Lithium. Mr. Rosko has reviewed and approved the content of this news release.
Program design and exploration support was provided by Mr. Iain Scarr, (B.Sc. – Geology, MBA, CPG) of Millennial Lithium. Mr. Scarr is a Certified Professional Geologist (CPG) with the American Association of Professional Geologists (AIPG) and a QP as defined in NI 43-101. Mr. Scarr has spent significant time on site at Pastos Grandes during all drilling and sampling operations and has extensive experience with lithium projects at other lithium bearing salars.
A Technical Report prepared under the guidelines of NI 43-101 standards describing the resource estimation will be filed on SEDAR within 45 days of this release.
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email email@example.com.
MILLENNIAL LITHIUM CORP.
President and CEO, Director
MILLENNIAL LITHIUM CORP.
1177 West Hastings Street
Vancouver, BC Canada V6E 2K3
Tel: (604) 662-8184
Fax: (604) 602-1606
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 document may contain “forward-looking information” within the meaning of Canadian securities legislation (hereinafter referred to as “forward-looking statements”). All statements, other than statements of historical fact, included herein including, without limitation statements relating to the Preliminary Economic Assessment, estimated capital and operating costs, productions rates, cash flows, rates of return, mine life or mineral resources, securing of debt for future project construction, purchase of future mine production, the timing for completion of an Feasibility Study and other matters related to the exploration and development of the Project, are forward-looking statements. These forward-looking statements are made as of the date of this document and the Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management’s expectations or beliefs regarding future events. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions, title disputes as well as those factors detailed from time to time in the Company’s interim and annual financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.
World Class Extractions Inc. (CSE: PUMP) (the “Company” or “World Class”) is pleased to announce that its common shares are now listed on the Frankfurt Stock Exchange and are trading under the ticker symbol “WCF” and “WKN: A2PF9C”. The Company’s common shares continue to be listed on the Canadian Stock Exchange under the ticker symbol “PUMP”.
“Our dual listing on the Frankfurt Stock Exchange is an important step in the Company’s growth internationally and will allow European investors to share in our ongoing expansion and progress,” said Michael McCombie, CEO of World Class. “World Class expects to be well-positioned to participate in the European and global hemp extraction markets as they continue to rapidly expand.”
About World Class Extractions Inc.
World Class is a Canadian based developer of an innovative extraction process for both the hemp and cannabis industry. World Class intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, World Class’ results produce higher yields and better quality crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. World Class can save its clients floor space, utility drying costs, equipment and processing labour costs.
For further information please contact:
Chief Executive Officer
Forward Looking Statements
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be anticipated, estimated, or intended.
Neither the Canadian Securities Exchange (the “CSE”) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
White Gold Corp. Commences Exploration on Vertigo Discovery and Newly Identified Targets along Vertigo Trend on JP Ross Property
White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce it has commenced its $13 million fully funded 2019 exploration program on its extensive 439,000 hectare land package, representing over 40% of the prolific White Gold District in Yukon, Canada. A total of 17,000m of diamond drilling and 7,500m of Reverse Circulation (“RC”) drilling is expected this season as part of the Company’s systematic data driven exploration plan backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC). Exploration activity has commenced on the JP Ross property focusing on expanding the footprint of the recent Vertigo discovery and other newly identified high priority targets along the 14km Vertigo Trend.
A map outlining the targets on the JP Ross property can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
- Detailed soil sampling performed in 2018 has proven effective to highlight known mineralization on the Vertigo discovery and also identified several new targets on the Vertigo Trend and across the JP Ross property associated with regional scale structures, demonstrating the potential for multiple mineralized systems. These areas and will be followed up with the GT Probe and other work to further assess the size and intensity of the anomalies and define 2019 drill targets.
- GT Probe sampling has commenced on the road accessible Vertigo focused on expanding the footprint of the discovery. The GT Probe will also be testing the other targets recently defined on the JP Ross property which demonstrate strong similarities to Vertigo.
- RC drilling scheduled to commence in early May on the JP Ross property focused on expansion of the Vertigo along strike. An additional 4 to 5 target areas are expected to have RC drilling as follow up to the GT Probe program.
- Diamond drilling is anticipated to commence in June on the Vertigo discovery. 10,000m of diamond drilling is planned on the Vertigo to evaluate geometry as well as the lateral and vertical continuity of mineralized structures discovered in 2018.
“2018 was a very successful year for White Gold, producing multiple brand-new discoveries including the Vertigo, which returned some of the most significant drill intercepts ever encountered in Yukon.” stated David D’Onofrio, Chief Executive Officer. “We are very excited to have kicked off our 2019 program deploying the GT Probe which has proven to be highly effective in defining drill targets and was instrumental in all four of our discoveries in 2018. We are eager to follow up on the Vertigo, and test other nearby targets defined late last season through detailed soil sampling, which demonstrate similar geochemical and structural signatures to the Vertigo. We are equally as excited to continue expanding both our flagship Golden Saddle deposit and the recently acquired VG deposit, and to follow up on our other 2018 discoveries, and to test our new high priority regional targets for the first time in 2019. Our recent successes have provided us further confidence in our highly specialized exploration methodologies, and we believe this could be our most exciting program to date.”
The Company has deployed the GT Probe on the new high-grade, road accessible, Vertigo discovery on its JP Ross property – one of four new gold discoveries made in 2018. The Vertigo consists of a series of W-NW trending, steeply south dipping structures identified over a 650m wide corridor that was traced over 300m through RAB/RC drilling in 2018. The overall system has been traced a further 1,700m to the west through soil sampling, prospecting and geophysical surveys. The GT Probe work will initially focus on the western extension of the Vertigo and is designed to evaluate the footprint of the system and define high priority targets for follow up RC drilling, which is expected to initiate in early May. The GT Probe is a proprietary track-mounted rig designed to take samples from the soil-bedrock interface, resulting in sampling that is both cost effective and with minimal environmental impact.
The combination of GT Probe sampling and detailed infill soil sampling led the Company to the discovery of the Vertigo in 2018. Furthermore, it highlighted the potential for previously unrecognized narrow (<10m) zones of high-grade material (>10 g/t Au) that would have been overlooked using traditional exploration methodologies.
The Vertigo is one of the Company’s most significant discoveries from the 2018 exploration season, with drilling highlights including, Hole JPRVERRAB18-014/JPRVERRC18-013 intersecting 22.47 g/t Au over 30.46m from surface ending in mineralization; Hole JPRVERRAB18-001 intersecting 56.25 g/t Au over 3.05m within a broader intercept of 17.34 g/t Au over 10.67m from 3.05m depth; Hole JPRVERRAB18-006 intersecting 103.90 g/t Au over 1.53m within a broader intercept of 31.35 g/t Au over 6.10m from surface. Multiple high-grade grab samples were also encountered including 304.3 g/t, 156.2 g/t and 139.9 g/t among others.
New Targets on the JP Ross Property
The GT Probe will be also utilized across the JP Ross property to follow up on several high priority targets defined through detailed soil sampling in 2018. Results from the GT Probe and other specialized exploration activity completed on the targets will guide follow up RAB/RC drilling. Details regarding the initial high priority targets to be tested is outlined below:
- Located immediately south of the Vertigo and road accessible.
- Consists of a series of NE and NW trending gold in soil anomalies over a 500m x 1,500m area with values ranging from trace to 284ppb Au.
- Similar geochemical signature to the Vertigo (Au-Ag-Bi-Pb+/-As).
- Rock samples from area returned grades up to 2.79 g/t Au.
- Located 7.5km northwest of the Vertigo.
- Consists of multiple zones of anomalous Au in soils over a 1.5km x 5km NE trending area with values from trace to 1,908.3 ppb Au.
- Detailed infill soil sampling focused on a 450m x 500m area within the Sabotage area in 2018, and returned discreet E-NE and NW trending gold in soil anomalies with values from trace to 295.3 ppb Au.
- At least 12 other target areas along the Sabotage trend will be detail soil sampled in 2019 with follow up GT Probe and other exploration work as warranted.
- Located 8.5km north of the Vertigo and road accessible.
- Consists of a series of gold in soil anomalies over a 1.5km x 3.5km N-NE trend with values ranging from trace to 1,141.6 ppb Au.
- Detailed infill soil sampling focused on two areas along the Frenzy Trend in 2018. The first covered a 450m x 500m area near the southern end of the trend and returned both NE and NW trending gold in soil anomalies with values from trace to 623.4 ppb Au. The second was at the northern end of the trend covering a 400m x 450m area and returned a N-S trend gold in soil anomaly over the length of the grid with values from trace to 492.8 ppb Au.
- Detailed soil sampling to be completed on at least 6 other target areas along the Frenzy Trend in 2019, with follow up GT Probe and other work as warranted.
Additional detailed soil sampling will also be conducted on multiple other target areas on the JP Ross property including Suspicion (4.5km SE of Vertigo), Stage Fright (9.5km NW of Vertigo; adjacent to Sabotage), Psycho (6km NE of Vertigo), and Xman (12km N-NE of Vertigo) with follow up GT Probe sampling, geophysical surveys, prospecting, and trenching as warranted.
About White Gold Corp.
The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 960,970 ounces Indicated at 2.43 g/t Au and 282,490 ounces Inferred at 1.70 g/t Au as set forth in the technical report entitled “Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, dated March 5, 2018, filed under the Company’s profile on SEDAR. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Goldcorp Inc. with a M&I gold resource(1) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(1) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.
- Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.
Jodie Gibson, P.Geo., Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.
Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Chief Executive Officer
White Gold Corp.
World Class Extractions Inc. (“World Class”) (CSE: PUMP) and Quadron Cannatech Corporation (“Quadron”) (CSE: QCC) are pleased to announce that they have entered into an arrangement agreement providing for the merger of the companies (the “Agreement”).
Summary of the Arrangement
Pursuant to the Agreement, World Class has agreed to acquire, through a wholly-owned subsidiary, all of the issued and outstanding common shares of Quadron (collectively, the “Quadron Shares”) by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”). Pursuant to the terms of the Arrangement, shareholders of Quadron (the “Quadron Shareholders”) will receive two (the “Exchange Ratio”) common shares of World Class (each, a “World Class Share”), for every Quadron Share held.
The consideration values Quadron at approximately $0.25 per Quadron Share, representing a premium of approximately 19% to the price of Quadron Shares compared to the closing price on April 12, 2019, and a premium of approximately 12.7% based on the trailing 15-day volume-weighted average price of each company as of the close of trading on April 12, 2019. Upon completion of the Arrangement, it is expected that Quadron Shareholders will receive approximately 143,300,894 World Class Shares, representing approximately 24.1% of the total issued and outstanding World Class Shares on a post-Arrangement basis.
Benefits of the Arrangement
The proposed Arrangement offers a number of benefits to the shareholders of both World Class and Quadron. The combined entities will leverage Quadron’s technical expertise, established customer base and seasoned management team with World Class’ unique patent-pending technology and strong cash position resulting from its recent $23,000,000 private placement. The proposed Arrangement would produce the following synergies:
- Quadron’s extraction and processing systems, which are automated and have been simplified relative to comparable technologies;
- A extensive roster of Quadron executives and employees that have been operating in the extraction and processing sector for over four years;
- An established and growing revenue stream, as demonstrated by Quadron’s revenue increasing by 132.54% for the nine months ended January 31, 2019 when compared to the same period in 2017;
- World Class’ unique patent-pending technology, which World Class anticipates will provide higher yields of full spectrum cannabis oil at faster rates and larger volumes than current extraction technologies; and
- A strong cash position resulting from World Class’ recently-closed private placement for gross proceeds of approximately $23,000,000.
Rosy Mondin, CEO of Quadron, stated, “There is no doubt that the extraction and processing of cannabis oils will become an incredibly important facet of the overall cannabis industry. By bringing together Quadron and World Class, two complementary businesses, we are creating a stronger enterprise to achieve long-term growth and value creation for our shareholders. Strengthing production and operations as key competitive factors and enhancing our prospects to innovate and lead, we are tightly aligned in our goal of becoming a global leader in the emerging, and rapidly growing, cannabis oils market.”
Michael McCombie, Chief Executive Officer of World Class, added, “The merger of Quadron and World Class positions World Class to become a global leader in extraction, processing, and large-scale processing of CBD from hemp. Quadron’s team of seasoned executives and proven ability to generate revenue in the extraction sector is exactly what World Class needs in order to separate ourselves from the pack, and take a leadership position in the nascent extraction sector.”
Management and Directors
Upon completion of the Arrangement, the board of World Class will be reconstituted to comprise five directors, including two directors nominated by World Class, two directors nominated by Quadron and one independent director acceptable to both World Class and Quadron. With respect to the management team of World Class upon completion of the Arrangement, Rosy Mondin will serve as the Chief Executive Officer and Leo Chamberland will serve as President.
M Partners Inc. has provided a fairness opinion to the Board of Directors of Quadron that the Arrangement is fair, from a financial point of view. First Republic Capital Corporation (“First Republic”) is acting as financial advisor to World Class. In addition to other fees and expenses payable to First Republic, World Class is required to pay a success fee (the “Success Fee”) to First Republic and Canaccord Genuity Corp. upon closing of the Arrangement equal to, respectively, approximately 2.73% and 0.77% of the aggregate fair market value of the World Class Shares issuable by World Class to Quadron’s shareholders, and payable in World Class Shares.
Boards of Directors’ Recommendations
The Board of Directors of World Class, and the Board of Directors of Quadron have both unanimously approved the proposed Arrangement.
Directors, management and certain key Quadron Shareholders representing over 23% of the issued and outstanding Quadron Shares have signed lockup agreements to vote their respective Quadron Shares in favour of the Arrangement.
The Arrangement will be implemented through a triangular amalgamation under the Business Corporations Act (British Columbia) in which a wholly-owned subsidiary of World Class will amalgamate with Quadron to become a wholly-owned subsidiary of World Class and Quadron Shareholders will receive World Class Shares based on the Exchange Ratio.
Upon closing of the Arrangement: (i) all outstanding stock options of Quadron will be adjusted in accordance with the stock option plan of Quadron and will be exercisable for World Class Shares on the basis of the Exchange Ratio; and (ii) all unexercised Quadron Share purchase warrants will be adjusted in accordance with the terms of the warrant certificates governing such Quadron Share purchase warrants such that they shall be exercisable to purchase World Class Shares on the basis of the Exchange Ratio and will expire in accordance with their current expiry dates.
The Agreement contains representations and warranties for the benefit of each of World Class and Quadron, conditions relating to shareholder, court and regulatory approvals, material adverse changes and compliance with the Agreement as are in each case customary in comparable transactions of this nature.
Completion of the Arrangement is subject to a number of conditions being satisfied or waived by one or both of World Class and Quadron at or prior to closing of the Arrangement, including: approval of the Quadron Securityholders, together with any requisite minority approvals; and receipt of all necessary regulatory and court approvals and the satisfaction of certain other closing conditions customary for a transaction of this nature.
The Agreement includes deal protection provisions that are customary in Canadian board-supported transactions on the part of both Quadron and World Class (subject to customary fiduciary out provisions). There is a mutual break fee commensurate with a transaction of this size being $1,500,000.
Details of the Arrangement, including a summary of the terms and conditions of the Arrangement Agreement, will be disclosed in a management information circular of Quadron, which will be mailed to Quadron Shareholders and will also be available on SEDAR at www.sedar.com. The Agreement will also be filed on the SEDAR profiles of each of World Class and Quadron.
It is expected that the special meeting of Quadron Shareholders (the “Meeting”) to approve the proposed Arrangement will be held in early June 2019 and, if approved at the Meeting, it is expected that the Arrangement would close approximately a week thereafter.
This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell any shares or a solicitation of a proxy.
About World Class
World Class is a Canadian based developer of an innovative extraction process for both the hemp and cannabis industry. The Company intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, World Class’ results produce higher yields and better quality crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. World Class can save its clients floor space, utility drying costs, equipment and processing labour costs.
For more information, visit: www.wcextractions.com.
On behalf of the Board of Directors of
WORLD CLASS EXTRACTIONS INC.
Chief Executive Officer
Quadron, through its wholly owned subsidiaries, provides turn-key extraction and processing solutions for the cannabis industry including proprietary industrial grade equipment, custom build processing facilities, ancillary products, and scientific services. Quadron delivers streamlined, costeffective and innovative solutions to help licensed growers, producers and processors develop market ready products all to achieve quicker ROI.
For more information, visit: www.quadroncannatech.com.
On behalf of the Board of Directors of
QUADRON CANNATECH CORPORATION
Chief Executive Officer
Investor Relations Contact:
KIN Communications Inc.
Caleb Jeffries, VP, Investor Relations
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements, including: obtaining Quadron shareholder and final court approval of the Arrangement; composition of the board of directors and management of World Class upon completion of the Arrangement; and timing and completion of the Arrangement. In making the forward-looking statements in this release, the parties have applied certain factors and assumptions that are based on the parties’ current beliefs as well as assumptions made by and information currently available to the parties. Although the parties consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. The parties do not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that as a result of its ongoing surface exploration at the San Marcial Project, initial channel samples indicate a new gold (Au) discovery the Nava Target. The new gold discovery is located approximately 1.5 kilometres to the west of the San Marcial silver NI 43 101 resource (see News Release dated 7 February 2019), within an area currently showing an extensive hydrothermal altered zone, 500 meters long x 100 m wide, hosting low sulphidation intensive quartz veining and stockwork mineralization..
Recent and historical artisanal tunnels in the Nava Zone were channel sampled by Goldplay, with assay results up to 10 grams per tonne (g/t) Au received from a set of sub-parallel quartz low sulphidation epithermal veins. Visible gold has been observed in panned quartz vein samples from some of the channel samples in the Nava Zone (Figure 1). The Nava Zone is one of the priority targets that was identified by Goldplay earlier this year (see News Release dated 18 January 2019) and is located at the western extent of the Faisanes-Nava structural trend (“Faisanes – Nava Corridor”) which leads from the San Marcial silver resource (Figure 2).
The Nava Zone consists of a prominent hill with historical artisanal workings, including numerous shallow pits. In addition to the pits, three old tunnels, that follow a series of sub parallel NE-SW trending quartz veins, were re-opened (Figure 3). Two of the tunnels have been worked recently by artisanal miners, extracting gold-rich quartz vein material. These two of the tunnels are on the west side of the hill (T-003 and T-004), located approximately 30 m apart, with evidence of not only quartz veining but also stockwork systems between them. The third tunnel (T-005) is on the east side of the hill approximately 160 m away, along the NE strike of the veins, with evidence of connection with T-004. Shallow pits are scattered in the area between the tunnels, demonstrating potential for definition of wide mineralized zones on surface.
Goldplay President and CEO Marcio Fonseca commented, “Over the past months Goldplay has actively explored the 1,250 ha of the San Marcial concession with soil, rock chip and channel sampling, identifying and testing targets that will add value to the San Marcial silver resource, by expanding or discovering new mineralized zones. High grade gold results with visible (panned) gold from epithermal quartz veins within artisanal tunnels in the Nava Zone provide encouragement for a gold mineralized low sulphidation epithermal system, just 1.5 km west of the high-grade hydrothermal breccia-hosted silver resource. The new Nava Zone gold discovery suggests that the San Marcial Project has potential to be a significant multi-commodity play, with proven occurrence of gold and silver mineralization together with series of old artisanal mine workings on the Faisanes – Nava Corridor. We are focused on additional sampling and trenching at Nava to define the extent and geometry of the gold mineralization, on surface, and identify targets to follow up with drilling.”
The Nava Zone consists of a set of NE trending mineralized quartz veins, as well as a recently discovered new zone of intense stockwork and associated alteration located approximately 300m to the west (Figure 3). The veins are interpreted to be in a low sulphidation regime and hosted within a porphyritic dacite and an andesitic tuff unit, in proximity to the contact with an underlying epiclastic volcanic package (Figure 4). The Nava Zone has no previous drilling.
Results range from 1.04 g/t up to 10.0 g/t Au from channel sampling across quartz vein material in the tunnels (Table 1 and Figure 4).
Channel samples from the Nava tunnels were collected with a rock saw, typically perpendicular to the strike of the major structures/veins being tested. The samples were sent to the SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico where they were analyzed for gold using fire assay, and multi-elements (including silver) using ICP. Results from the other elements analyzed in the laboratory process are currently being reviewed.
Follow up Exploration
The Company has placed a high priority on exploration activities in the Nava Zone following this recent new gold discovery. Current exploration activities include surface trenching to expose the mineralized veins as well as local quartz stockwork material (Figure 5), particularly in the main hill area in between trenches T-003 and T-004 on the west, and T-005 on the east side. This area has numerous historical surface pits. Geological mapping and additional channel sampling will be carried out to also test for extensions of the mineralization along strike to the NE and SW. This current exploration also includes the stockwork zone located 300m to the west of the tunnels (Figure 3). It is anticipated that the current activities will lead to definition of drill targets to test the depth continuity of the gold mineralization at Nava.
The Company continues to advance surface exploration at other targets on the San Marcial Project as identified by soil and rock sampling (News Release dated 18 January 2019). These targets, including Faisanes, are yet to be drilled and are located in the vicinity of the NI 43 101 Mineral Resource. Goldplay has already received drilling permits to advance a significant drilling program in 2019.
The scientific and technical data contained in this news release related to the San Marcial Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.
Quality Assurance Program and Quality Control Procedures (“QA/QC”)
Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC.
About Goldplay Exploration Ltd.
Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, to expand resources at the San Marcial Project, as well as a follow up exploration program at the El Habal Project.
The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019.
San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.
The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
SOURCE Goldplay Exploration Ltd
For further information: +1 (604) 202 3155, Email: firstname.lastname@example.org
Canadian Orebodies Inc. (the “Company”) (TSXV:CORE) is pleased to announce that it has completed its previously announced drill program to explore for the extension and potential additional high-grade gold-bearing veins in the Smoke Lake Gold System (“SLGS”) on the Black Raven property (see press release dated February 22, 2019).
This drill campaign consisted of 10 holes totaling approximately 1,305 metres, with a majority of the holes drilled off ice pads located on Smoke Lake. Management was particularly pleased with the drilling program and looks forward to receiving the assay results. All drill core has been cut and shipped to Activation Laboratories Ltd. in Thunder Bay, ON for preparation and assay, and results will be press released once interpreted.
The Company has also commenced an extensive re-logging, sampling and digitization program to interpret the geological controls on the distribution of gold in the Wire Lake Gold System (WLGS). The sampling program will focus on alteration zones that went unrecognized in past exploration activities. The Wire Lake Gold System extends over a strike length of 3 km and has a complex and protracted history of tectonic deformation, gold mineralization, hydrothermal alteration and magma injections.
The historic and 2017 drilling revealed that the WLGS consists of broad zones of gold mineralization in a volcanic sequence characterized by an alteration package which is not visually evident. An on-going review of the sampling patterns in the historic holes completed in the WLGS has revealed that sampling of the core did not occur in areas now recognized as zones of potential gold mineralization.
The objectives of the sampling program are to confirm if zones of significant mineralization have gone undetected and to develop a better understanding of the geological and structural controls of the gold mineralization. The company anticipates that a better geological understanding of the mineralization footprint and controls of the WLGS will lead to new and improved exploration targets with the expectation of expanding the mineralized zones and lead to the discovery of new zones of higher-grade mineralization.
Analytical methods and Quality Assurance/Quality Control (QA/QC”) Measures
Canadian Orebodies has implemented a quality-control program to comply with best practices in the collection and analysis of rock samples. All drill cores are BTW in size and assays are completed on sawed half-cores, with the second half of the core kept for future reference. Groups of samples are then placed into durable rice bags and then transported in security-sealed bags to Activation Laboratories Ltd. in Thunder Bay, ON for preparation and assay. Routine gold analyses are fire assay with an AA (atomic absorption) finish whereas samples with visible gold or rich in quartz veins and sulfides are analysed using 1-kilogram metallic screen fire assay. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.
In addition to the standard quality control of the laboratory Canadian Orebodies has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, the Company inserts external gold standards and blanks every 20 samples.
This press release has been prepared under the supervision of Mr. Quentin Yarie (P.Geo.), who is a consultant to the Company and a “qualified person” (as such term is defined in National Instrument 43-101). Mr. Yarie has verified the technical data disclosed in this press release.
About Canadian Orebodies Inc.
Canadian Orebodies is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. Canadian Orebodies is focused on generating shareholder value through the advancement of its two Hemlo area projects: Wire Lake and the North Limb.
For more information please contact:
Gordon McKinnon, President & CEO
Canadian Orebodies Inc.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company’s plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Canadian Orebodies, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Skyharbour Resources Ltd. SYH)”>(TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce that its partner company Azincourt Energy Corp. (“Azincourt”) has preliminary results from the recent helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and Magnetic survey conducted over the southeastern portion of the East Preston Uranium Project, located in the western Athabasca Basin, Saskatchewan.
Preston Uranium Project Map:
The survey was conducted between January 23rd and February 6th, 2019, and completed survey coverage over the entire 25,000-ha project area. This survey consisted of 498 line-km with 300 m line spacing and 1,000 m tie-line spacing – identical parameters to the previous VTEM™ Max survey, and ties directly into the previous flight lines. Flight lines are oriented NW-SE, perpendicular to the NE-SW trending structural and conductor trends of the basement rocks at East Preston.
Geotech, the survey provider, is finalizing final reports, but has completed data processing and has provided a merged dataset covering the entire East Preston project by combining the newly acquired VTEM survey data with the original VTEM data coverage. In-depth interpretation is on-going by Bingham Geoscience, geophysical consultants to Azincourt. Results of the interpretation will be reported once received and reviewed.
The initial interpretation of this new survey data has added an additional 7.5 km to 10 km along two of the same prospective previously-known conductive trends. There are offset breaks in the conductor trends with multiple, discreet conductors interpreted.
East Preston VTEM Survey:
More in-depth interpretation is on-going and will be used to add to the East Preston target inventory for future exploration drill testing.
VTEM Survey Grid – Completed January 2019:
The survey consisted of 498 line-km with 300 m line spacing and 1,000 m tie-line spacing – identical parameters to the previous VTEM™ Max survey, and ties directly into the previous flight lines, oriented NW-SE, perpendicular to the NE-SW trending structural and conductor trends of the basement rocks at East Preston. 100% of the East Preston ground has now been subject to VTEM Max survey.
Geotech is currently completing data processing prior to passing to Azincourt consultants for in-depth interpretation. This new survey data will be used to add targets for future exploration drill testing and does not affect the current planned drill campaign.
East Preston Geophysical Work – Winter 2018:
Azincourt completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near previous drilling along the Swoosh corridor.
The work included 51.5 km of grid preparation (line cutting/picketing), 46.1 km of horizontal loop electromagnetic (HLEM), and 40.6 km of ground gravity along the previously known airborne helicopter VTEM conductive trends.
Skyharbour and Clean Commodities entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt has an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Under the Agreement, Azincourt has issued common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities, as well as $2,500,000 in exploration expenditures over the three-year period.
Skyharbour also announces that it has reached an agreement with Azincourt in which The Company has agreed to accept 2,000,000 common shares (the “Settlement Shares”) of Azincourt Shares in settlement of a portion of the second year cash payment owing to Skyharbour in connection with the acquisition of an interest in the East Preston Uranium Project. As partial consideration for this interest in the project, a payment of $150,000 is owing to Skyharbour. The Settlement Shares are being issued in settlement of $100,000 of the payment owing to Skyharbour and are being issued at a deemed price of $0.05 per share. The balance of $50,000 owing to Skyharbour will be paid in cash.
Completion of the issuance of the Settlement Shares remains subject to the approval of the TSX Venture Exchange. Following issuance, the Settlements Shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Qualified Person.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approx. 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone with drill results returning up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high-grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
President and CEO
For further information contact myself or:
Corporate Development and Communications
Skyharbour Resources Ltd.
Toll Free: 800-567-8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS 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 events or developments that management of the Company expects, are forward-looking statements. Although management 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. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Marathon Drilling Further Confirming Continuity of Main Zone Gold: 3.52 g/t Au over 45.0m, 2.61 g/t Au over 75.0m and 1.82 g/t Au over 50.0m, Valentine Gold Camp, NL
- The ongoing infill drilling program at the Marathon Deposit is designed to penetrate down through the main mineralized corridor as well as into the hanging wall and foot wall zones of the open pit (Figure 1). The aim of the infill drilling campaign is three-fold: to increase confidence in the lateral and vertical continuity of high-grade gold mineralization by drilling between adjacent drill holes; to penetrate gold intervals in the hanging wall and footwall regions where there is wide spaced drilling; and to convert inferred into measured and indicated resource categories.
- Main Zone: MA-19-372 intersected 3.52 g/t Au over 45.0 meters with 16.16 g/t Au over 2.0 meters and 14.25 g/t Au over 4.0 meters, as well as 3.35 g/t Au over 16.0 meters with 18.28 g/t Au over 2.0 meters.
- Main Zone: MA-19-370 intersected 2.61 g/t Au over 75.0 meters with 7.71 g/t Au over 6.0 meters, 20.27 g/t Au over 2.0 meters and 28.44 g/t Au over 2.0 meters.
- Main Zone: MA-19-361 intersected 1.82 g/t Au over 50.0 meters with 5.35 over 6.0 meters and 6.13 g/t Au over 3.0 meters.
- Hanging Wall: MA-19-364 intersected 2.23 g/t Au over 6.0 meters and 5.65 g/t Au over 3.0, and MA-19-365 intersected 1.84 g/t over 4.0 meters.
- Footwall Zone: MA-19-362 intersected 2.23 g/t Au over 11.0 meters, and MA-19-369 intersected 1.93 g/t Au over 8.0 meters.
- The 2019 infill drilling campaign continues at the Valentine Gold Camp with two drills operating at the Leprechaun deposit and one drill operating at the Marathon Deposit.
- Advanced metallurgical testing of material from both the Marathon and Leprechaun Deposits is continuing with focus on optimizing both mill and heap leach recoveries.
- An Environmental Assessment Registration / Project Description was submitted to the Federal and Provincial regulators on April 5, 2019; a key step in the overall regulatory approvals process.
TORONTO, April 11, 2019 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce the continued success of the infill drilling campaign at the Marathon deposit. The new drilling has returned excellent results proving further lateral and vertical continuity of the high-grade gold between adjacent drill holes and confirming significant gold intervals in both hanging wall and footwall zones of the deposit to help reduce the strip ratio for the open pit. These drilling results continue to provide further confirmation of Marathon’s geological model and will assist in upgrading existing inferred resources within the Marathon Deposit into the Measured and Indicated resource categories.
“The 2019 drilling program is producing impressive results at the Marathon and Leprechaun deposits. At Marathon, the Main Zone is being drilled at a spacing of 10 to 20 meters between holes to give Measured and Indicated resources showing very good correlation with most of the high-grade intercepts in adjacent holes,” said Phillip Walford, President and CEO of Marathon Gold. “All of the holes we are reporting are in the Marathon PEA pit shell and the longer intercepts reported in this release will have a positive impact on the resource grade.”
TABLE 1: Significant assay intervals, Marathon Deposit, Valentine Gold Camp.
|Gold g/t||Gold g/t|
* Cut to 45 g/t Au, MZ = Main Zone, HW = Hanging Wall, FW = Foot Wall
Figure 1: Location of drill hole collars MA-19-361 to MA-19-372, Marathon Deposit.
A 3D Model of the Marathon Deposit showing drill holes MA-19-361 to MA-19-372 is available at www.corebox.net.
Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Quality Assurance-Quality Control (“QA/QC”)
Sherry Dunsworth, M.Sc., P. Geo., Senior VP of Exploration, Marathon’s Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Limited in Springdale, Newfoundland. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in Table 1 as core lengths and estimated true thickness (85-95% of core length).
Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Valentine Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.
The Valentine Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.
To find out more information on the Valentine Gold Camp please visit www.marathon-gold.com.
|For more information, please contact:|
|Christopher Haldane||Phillip Walford|
|Investor Relations Manager||President and Chief Executive Officer|
|Tel: 1-416-987-0714||Tel: 1-416-987-0711|
|E-mail: email@example.com||E-mail: firstname.lastname@example.org|
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.