Advantage Lithium (V.AAL)

V.AAL, Advantage Lithium, lithium, Argentina, David SidooAdvantage 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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White Gold: A Pipeline of Projects in the Yukon

David D’Onofrio, CEO of White Gold Corp (V.WGO), says the company offers the opportunities and has the successes of multiple mining juniors, all combined into one company. “It’s not about one project or one resource, but about continually advancing our pipeline of multiple exploration projects efficiently and effectively in an exciting new gold camp.” states D’Onofrio. 

White Gold owns the largest land package in the prolific White Gold District of Yukon, the site of the original Gold Rush that produced over 20 million ounces of placer gold and multimillion-ounce hard rock discoveries in recent years acquired by majors for hundreds of millions of dollars. The first thing D’Onofrio tells investors about the company is their strategy to working their significant land position of over one million acres. “From the very inception of White Gold Corp, our model has been to explore and advance our assets as a pipeline, project by project,” said D’Onofrio. “We work our land package, generate discoveries, and look to eventually vend out projects once we advanced them to a sufficient level.” 

To identify and advance its prospective gold targets the company’s exploration strategy is spearheaded by world famous gold prospector Shawn Ryan and his proprietary “Drones to Drills” strategy. This systematic exploration method combines geophysics, extensive soil sampling and other techniques, with cutting-edge technologies such as LiDAR, airborne mag-radiometric surveying and the unique GT Probe, a replacement for trenching that samples bedrock quickly and with minimal environmental impact. This allows White Gold to build an extremely detailed picture of a particular area, identifying the most attractive drill targets, quickly and cost-effectively.

“We know the most valuable gold ounces are near an established resource. Right now, we have an NI 43-101 compliant mineral resource estimate of over 1,500,000 gold ounces at our flagship Golden Saddle & Arc deposits, and our VG 230,000 gold ounce resource 10km away.” Said D’Onofrio. “We are focusing on the area within 5 kilometers of these deposits. We see nearby targets as being part of a single, large project and those are where we believe the ‘easy’ and ‘high value’ ounces are to be found. We also have other great projects. This is just on of our main focus areas.” 

In its September 25 press release White Gold provided an update on this season’s drilling activities across the White Gold property. This included the Golden Saddle deposit, the Ryan’s Surprise discovery located two kilometers to the west, as well as drilling and positive metallurgical results from its Arc deposit. Some of the highlights from this season’s drilling on the Golden Saddle include hole WHTGS19D0198 returning 3.59 g/t Au over 68.0m from 73m depth, including 8.11 g/t Au over 13.6m from 77m depth, and 2.31 g/t Au over 10.56m at 179m depth. Hole WHTGS19D0212 had returned 4.85 g/t Au over 27.5m from 38m depth, including 6.58 g/t Au over 9.0m from 51m depth.

This season’s diamond drilling results on the Ryan’s Surprise were very strong, expanding on last year’s preliminary RC drill holes, which had included holes WHTRYN18RC001 with 6.09m of 20.64 g/t Au from 84m depth, and WHTRYN18RC002 with 13.17m of 5.02 g/t Au from 122m depth, including 4.57m of 9.25 g/t Au at 123m depth. With the diamond drilling this season significant mineralization was encountered, demonstrating the presence of multiple gold zones in addition to those previously modelled. Highlights included hole WHTRS19D012 which intersected two zones of gold mineralization – 2.66 g/t Au over 11.00m from 93m depth, and 2.10 g/t Au over 31.78m from 142m depth, including 4.23 g/t Au over 3.06m. 

At the Arc deposit, diamond drilling produced some of the best grades to date, and significantly extended mineralization almost 23%, 300m to the east to a length of 1,300m. “In conjunction with our strategic partner Agnico Eagle, we completed an analysis of the Arc’s metallurgy,” stated D’Onofrio, “The results were very positive, indicating a recovery over 85%.” The tests demonstrated Arc’s gold was not refractory mineralization, a strong positive for future ore production.

The combined positive results this season on the Golden Saddle, Arc and Ryan’s Surprise, are moving the needle on their White Gold property, closer towards what majors look for in a potential development project. 

“There are multiple other targets we’ve identified and have done preliminary work on, near our Golden Saddle & Arc resources,” said D’Onofrio. “But with so many prospective areas on our list, we have to prioritize.”

North-East from the White Gold property is the JP Ross property. “At the Vertigo discovery, we have seen ultra-high gold results from 30 to 100+ grams per ton starting at surface. We’re diamond drilling right now, with results to be released soon.”

However, sometimes a property is attractive enough that it warrants immediate attention. “Less than 15km west of our Vertigo discovery, on the Hen property, we have our newest target getting everyone excited: the Titan. One soil sample from the Titan returned over 100,000 ppb gold. With a good soil sample being 400 ppb this was the highest we’ve ever seen; definitely something that grabs our attention.” Said D’Onofrio, “We also detected a large donut-shaped magnetic low, and some other interesting features, so we absolutely had it fast-tracked. There will be some RAB holes drilled before this season end. In fact, Shawn Ryan himself was on site doing further sampling a couple of days ago.”

“We have done a tremendous amount of work this year which is ongoing and are looking forward to receive the results in the coming weeks and months.”

“Alongside the Titan, we’ve also identified several other new high-priority targets for next year. These are all additional examples of our approach of building a pipeline of projects.” Stated D’Onofrio, “We start with basic activities like soil sampling, and as we get results, we put more gas in the engine.”

“We specialize in our strengths,” said D’Onofrio. “We explore, generate the discoveries, get them to the right level, and let the majors take it from there to build the mines.”

Exactly how that will work will depend on the offer.” said D’Onofrio. “We want to optimize shareholder value.”

“We have a lot of great things going on in our company, and sometimes it’s a challenge to ensure the market appreciates all of this. At Beaver Creek,” said D’Onofrio referring to the recently held Precious Metals Summit Conference, “I sit down with an investor for thirty minutes, and then they get it, they understand that our portfolio includes at least three project groups that could each be their own standalone company.”

“Beaver Creek was phenomenal,” said D’Onofrio. “The overall sentiment was great and we saw a significant rise in the volume of White Gold shares being traded as people got an understanding of our story.”

Having multiple projects brings steady news flow from White Gold into the New Year. It also ensures White Gold has a parade of advancing projects to pitch to senior and mid-tier companies.

With over a million acres of prospective land in Yukon, D’Onofrio was very confident, “Every year we find new highly prospective targets, and bring advanced assets closer to that finish line for a major.” With the backing of both Agnico Eagle and Kinross each with 19% equity in White Gold, we have the benefit of working closely with proven mine builders to advance this district that has had so much recent success and is still very underexplored. 

 

 

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NexGen Releases First Assays from Recently Completed Arrow Drilling Program Including 12.0 m at 33.78% U3O8 and 8.0 m at 32.88% U3O8

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE, NYSE MKT: NXE) is pleased to report the first batch of assay results for twenty holes from the Company’s recently completed Phase I Feasibility-stage drilling program at the 100% owned, Rook I Project in the Athabasca Basin, Saskatchewan.

The 2019 Arrow drilling program targeted the A2 and A3 High-Grade Domains to deliver an optimization of the mine plan at a drill hole spacing of between 9 m and 17 m (based on a geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions). The holes are designed to in-fill the A2 high-grade domain and elevate the resource from indicated to measured. All drill holes were collared at a steep inclination, then shallowed out between -55° and -60° before intersecting the target by utilizing the latest in directional drilling technology. The results below highlight intersections through the A2 High-Grade Domains only, for complete hole results please see results Table 1.

A2 High-Grade Domain Highlights

  • AR-19-225c1 intersected 36.0 m at 11.36% U3O8 (564.0 to 600.0 m) including 12.0 m at 33.78% U3O8 (570.0 to 582.0 m). The target was intersected at a dip of -56.4° approximately 7.0 m up-dip from AR-16-063c3 (15.0 m at 8.28% U3O8 and an additional 119 m at 2.3% U3O8);

  • AR-19-221c1 intersected 26.0 m at 10.39% U3O8 (523.5 to 549.5 m) including 8.0 m at 32.88% U3O8 (527.5 to 535.5 m). The target was intersected at a dip of -57° approximately 9.0 m along strike to the northeast of AR-16-111c1 (60.0 m at 4.70% U3O8 including 17.0 m at 15.79% U3O8);

  • AR-19-224c1 intersected 21.0 m at 15.36% U3O8 (554.5 to 575.5 m) including 14.0 m at 22.69% U3O8 (554.5 to 568.5 m).. The target was intersected at a dip of -58.7° approximately 13.0 m up-dip from AR-16-064c1 (48.5 m at 6.97% U3O8);

  • AR-19-222c1 intersected 58.0 m at 4.12% U3O8 (493.5 to 551.5 m) including 13.0 m at 17.14% U3O8 (528.5 to 541.5 m). The target was intersected at a dip of -58.7° approximately 9.0 m up-dip from AR-16-091c2 (40.5 m at 12.69% U3O8 including 25.0 m at 19.97% U3O8);

  • AR-19-227c2 intersected 49.0 m at 2.93% U3O8 (460.0 to 509.0 m) including 3.0 m at 22.66% U3O8 (504.0 to 507.0 m). The target was intersected at a dip of -59.2° approximately 13.0 m down-dip from AR-19-227c1 (44.0 m at 1.73% U3Oincluding 7.0 m at 9.69% U3O8).

Drill hole locations are shown in Figure 1, full drilling results can be found in Table 1. Drill hole descriptions can be found at www.nexgenenergy.ca

Development, Activities & Financial

  • Expediting Arrow to Feasibility focusing on mine optimization plans based on Measured and Indicated mineral resources.

  • NexGen commenced an Environmental Assessment on the Rook I Project on April 29, 2019 in accordance with the requirements of both the Environmental Assessment Act and the Canadian Environmental Assessment Act, 2012 (“CEAA 2012”) after receiving acceptance of the Rook I Project Description (Technical Proposal) by the Canadian Nuclear Safety Commission (“CNSC”) and the Saskatchewan Ministry of Environment (“SMOE”). In addition, NexGen filed an Initial Licence Application with the CNSC under the Nuclear Safety and Control Act in order to obtain a Licence to Prepare Site and Construct for the Project.

  • As of September 30, 2019, the Company had cash-on-hand of approximately $75 million which fully funds NexGen for all drilling, feasibility and development programs planned this year.

  • Recently completed winter 2019 Arrow drilling program was comprised of 131 holes totaling 57,282.4 m of which 117 drill holes, totaling 50,968 m. Fourteen drill holes totaling 6,314.4 m were primarily designed to test the geotechnical and hydrogeological characteristics of the rock mass in areas of proposed mine workings and UGTMF – these holes are still pending release.

Leigh Curyer, Chief Executive Officer, commented: “Today’s assay results from Arrow once again highlight the continuity of high-grade intersections. The regular and uniform return of broad high grade intercepts is unique especially when considering the basement hosted and land-based technical setting of the project. There are over 100 more assays pending to be released in the coming months to be incorporated into the Feasibility Study scheduled for H1 2020. In parallel, the team is working on all aspects of the Environmental Assessment with studies scheduled for completion in H2 2020. As recently reported by uranium industry observers, the uranium market dynamics have improved significantly and are forecast to improve further in the short, medium and long term. In addition, the expanding initiative to commercially deploy small modular reactors is seen as an important measure to address the world’s climate change challenge in a safe, environmentally responsible manner. NexGen is uniquely positioned for this initiative as we progress through development.”

Troy Boisjoli, Vice-President, Operations and Project Development, commented: “The initial assay release from our recently completed 2019 Feasibility-stage Arrow drill program continues to deliver a continuation of high grade mineralization across the A2 and A3 high-grade domains. When taking into account the shallow angle of intersection using the latest in directional drill technology, these results today are among the very best ever encountered at Arrow. Today’s results along with rest of the Arrow drilling program will be incorporated into the updated Mineral Resource estimate for use in the Feasibility Study. The results demonstrate the strength of the Arrow Deposit and of the drilling process – which is both time efficient and cost effective – and has achieve significant results in a short period of time.”

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca Group – Basement
Unconformity Depth (m)

SRC Geoanalytical Results

Hole ID

Azimuth

Dip

Total Depth (m)

From (m)

To (m)

Width (m)

U3O8 (wt%)

AR-19-221c1

327

-65

576

129.5

431.50

433.50

2.0

0.08

442.50

449.50

7.0

0.02

477.50

487.50

10.0

0.03

495.50

498.50

3.0

0.06

502.50

507.50

5.0

0.01

510.50

517.50

7.0

0.11

523.50

549.50

26.0

10.39

incl.

527.50

535.50

8.0

32.88

556.50

557.50

1.0

0.01

AR-19-221c2

327

-65

597.5

N/A

408.00

408.50

0.5

0.05

426.50

430.50

4.0

0.06

437.50

438.50

1.0

0.02

441.50

442.50

1.0

0.01

479.00

480.00

1.0

0.017

484.00

489.00

5.0

0.01

494.00

523.00

29.0

0.07

540.00

563.00

23.0

1.86

incl.

541.00

548.00

7.0

4.22

591.50

592.00

0.5

0.021

AR-19-222c1

327

-65

597.5

133.45

400.50

404.50

4.0

0.07

422.00

426.00

4.0

0.05

437.50

440.50

3.0

0.18

445.50

482.50

37.0

0.08

incl.

456.50

459.50

3.0

0.48

489.50

490.50

1.0

0.02

493.50

551.50

58.0

4.12

incl.

528.50

541.50

13.0

17.14

incl.

544.50

547.50

3.0

2.73

557.50

559.50

2.0

0.14

576.50

577.50

1.0

0.03

581.50

582.50

1.0

0.01

AR-19-222c2

327

-65

594

N/A

405.00

406.00

1.0

0.03

412.00

413.00

1.0

0.04

417.00

418.00

1.0

0.16

433.00

471.00

38.0

0.14

474.00

493.00

19.0

0.03

497.00

539.00

42.0

3.83

incl.

509.00

522.00

13.0

11.81

incl.

534.00

535.00

1.0

2.41

543.00

547.00

4.0

0.50

incl.

544.00

545.00

1.0

1.90

AR-19-223c1

327

-65

588

133.6

435.00

439.00

4.0

0.06

442.00

443.00

1.0

0.01

446.00

460.00

14.0

0.20

464.00

487.00

23.0

0.02

490.00

529.00

39.0

0.09

532.00

549.00

17.0

1.82

incl.

539.00

542.00

3.0

8.45

553.00

561.00

8.0

0.17

567.00

571.00

4.0

0.05

AR-19-223c2

327

-65

615.5

N/A

428.50

438.50

10.0

0.01

444.50

467.50

23.0

0.08

incl.

455.50

460.50

5.0

0.25

472.50

475.50

3.0

0.01

478.50

481.50

3.0

0.01

487.50

516.50

29.0

0.04

522.50

531.50

9.0

0.02

536.50

558.50

22.0

4.48

incl.

541.50

550.50

9.0

10.79

564.50

576.50

12.0

0.32

incl.

567.50

568.50

1.0

2.44

581.50

583.50

2.0

0.01

AR-19-223c3

327

-65

586.5

N/A

417.50

418.00

0.5

0.04

425.00

426.00

1.0

0.08

435.00

448.00

13.0

0.08

451.00

460.00

9.0

0.12

462.50

465.00

2.5

0.02

468.50

470.50

2.0

0.03

473.00

495.00

22.0

0.04

498.00

551.00

53.0

0.67

incl.

536.00

545.00

9.0

3.58

559.00

566.00

7.0

1.20

incl.

562.00

564.00

2.0

3.96

570.00

575.00

5.0

0.02

AR-19-224c1

327

-65

597.5

129.45

443.00

456.00

13.0

0.03

465.00

466.00

1.0

0.04

469.00

474.00

5.0

0.09

497.50

506.50

9.0

0.04

509.50

512.50

3.0

0.03

519.50

551.50

32.0

0.04

incl.

549.50

550.50

1.0

0.35

554.50

575.50

21.0

15.36

incl.

554.50

568.50

14.0

22.69

AR-19-224c2

327

-65

612.5

N/A

441.00

454.00

13.0

0.04

462.00

464.00

2.0

0.01

476.00

479.00

3.0

0.17

492.00

503.00

11.0

0.08

506.00

509.00

3.0

0.04

512.00

514.00

2.0

0.02

518.00

519.00

1.0

0.03

523.00

532.00

9.0

0.01

538.00

572.00

34.0

8.96

incl.

550.00

564.00

14.0

20.99

580.00

586.00

6.0

0.21

incl.

582.00

583.00

1.0

1.07

AR-19-225c1

327

-65

627.5

128.7

450.00

450.50

0.5

0.03

474.00

474.50

0.5

0.01

494.00

496.00

2.0

0.02

500.00

507.00

7.0

0.04

520.00

526.00

6.0

0.05

531.00

532.00

1.0

0.13

536.00

542.00

6.0

0.01

545.00

546.00

1.0

0.16

554.00

556.00

2.0

0.02

559.00

561.00

2.0

0.02

564.00

600.00

36.0

11.36

incl.

570.00

582.00

12.0

33.78

AR-19-225c2

327

-65

636.5

N/A

472.50

474.50

2.0

0.04

478.50

480.50

2.0

0.13

530.50

536.50

6.0

0.02

556.50

598.50

42.0

3.08

incl.

574.50

589.50

15.0

8.31

601.50

607.50

6.0

0.02

AR-19-226c1

327

-65

564.5

131.5

362.00

363.00

1.0

0.02

446.50

447.50

1.0

0.04

456.50

468.50

12.0

0.03

472.50

473.50

1.0

0.13

480.50

483.50

3.0

0.03

491.50

508.50

17.0

0.11

incl.

506.50

508.50

2.0

0.35

512.50

528.50

16.0

9.65

incl.

512.50

516.50

4.0

32.75

536.50

539.50

3.0

0.41

AR-19-226c1a

327

-65

177

144.15

No Anomolous Radioactivity

AR-19-226c2

327

-65

567

N/A

453.00

454.50

1.5

0.02

457.50

458.00

0.5

0.03

463.00

469.00

6.0

0.02

474.50

475.00

0.5

0.02

489.50

523.50

34.0

2.34

incl.

512.50

522.50

10.0

7.64

526.50

530.50

4.0

0.06

541.50

542.50

1.0

0.01

547.00

549.00

2.0

0.15

553.00

554.00

1.0

0.01

AR-19-227c1

327

-65

525.5

138.3

440.00

447.00

7.0

0.02

450.00

453.00

3.0

0.01

463.00

507.00

44.0

1.72

incl.

476.00

483.00

7.0

9.69

AR-19-227c2

327

-65

540.5

N/A

429.00

430.00

1.0

0.01

439.00

441.00

2.0

0.03

454.00

456.00

2.0

0.02

460.00

509.00

49.0

2.93

incl.

479.00

482.00

3.0

5.13

incl.

489.00

492.00

3.0

4.08

incl.

497.00

500.00

3.0

9.06

incl.

504.00

507.00

3.0

22.66

513.00

518.00

5.0

0.57

AR-19-228c1

327

-65

663.5

134

458.00

484.00

26.0

0.19

incl.

462.00

467.00

5.0

0.52

487.00

488.00

1.0

0.08

492.00

493.00

1.0

0.07

504.00

506.00

2.0

0.04

512.00

524.00

12.0

0.52

incl.

514.00

519.00

5.0

1.04

535.00

536.00

1.0

0.01

548.00

554.00

6.0

0.01

567.00

570.00

3.0

0.03

575.00

582.00

7.0

0.10

598.00

625.00

27.0

2.56

incl.

613.00

623.00

10.0

6.76

629.00

639.00

10.0

0.50

incl.

629.00

632.00

3.0

1.61

646.00

649.00

3.0

0.03

652.00

654.00

2.0

0.01

658.00

661.00

3.0

0.03

AR-19-228c2

327

-65

672.5

N/A

459.50

481.50

22.0

0.33

incl.

464.50

469.50

5.0

0.90

486.50

487.00

0.5

0.02

509.00

511.00

2.0

0.09

515.00

536.00

21.0

0.33

incl.

519.00

521.00

2.0

1.45

557.50

558.00

0.5

0.01

560.50

563.50

3.0

0.01

573.50

575.50

2.0

0.01

581.00

585.00

4.0

0.02

597.00

610.00

13.0

0.03

616.00

627.00

11.0

5.76

incl.

624.00

627.00

3.0

18.84

630.00

634.00

4.0

0.10

637.00

663.00

26.0

0.26

incl.

641.00

645.00

4.0

1.30

AR-19-233c1

327

-65

534.5

133.7

447.50

450.50

3.0

0.22

453.50

491.50

38.0

1.85

incl.

472.50

480.50

8.0

4.02

incl.

489.50

491.50

2.0

5.97

494.50

503.50

9.0

0.37

incl.

500.50

501.50

1.0

3.05

508.50

509.50

1.0

0.04

AR-19-233c2

327

-65

537.5

N/A

457.00

511.00

54.0

1.96

incl.

473.00

489.00

16.0

5.85

522.00

523.00

1.0

0.04

Parameters:

  • Maximum internal dilution 2.0 m downhole
  • Minimum thickness of 0.5 m downhole
  • Cutoff grade 0.01% U3O8
  • All depths and intervals are metres downhole, true thicknesses are yet to be determined. Resource modelling in conjunction with an updated mineral resource estimate is required before true thicknesses can be determined
  • Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.

NexGen owns a 100% interest in Rook I, location of the Arrow Deposit discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017, including an expansive portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada. NexGen is the recipient of the PDAC’s 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Technical Disclosure

The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O’Hara, P.Eng. of Wood., David Robson, P.Eng., M.B.A., and Jason Cox, P.Eng. of RPA, each of whom is a “qualified person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101“).

The Mineral Resource Estimate was completed by Mr. Mark Mathisen, C.P.G., Senior Geologist at RPA and Mr. David Ross, P.Geo., Director of Resource Estimation and Principal Geologist at RPA. Both are independent Qualified Persons in accordance with the requirements of National Instrument (NI) 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Mr. Troy Boisjoli, Geoscientist Licensee, Vice President – Operations & Project Development for NexGen. Mr. Boisjoli is a qualified person for the purposes of NI 43-101 and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols. All other technical information in this news release has been approved by Mr. James Hatley, a Professional Engineer, Senior Vice-President – Project Development for NexGen. Mr. Hatley is a qualified person for the purposes of NI 43-101 and has reviewed the underlying the information or opinions contained herein on mine design.

A technical report in respect to the PFS is filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml) and is available for review on NexGen Energy’s website (www.nexgenenergy.ca).

SEC Standards

Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101. The definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. In addition, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Additionally, disclosure of “contained pounds” in a resource is permitted disclosure under Canadian securities laws; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measurements. Accordingly, information contained or referenced in this news release containing descriptions of the Company’s mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Technical Information

For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource please refer to the technical report entitled “Arrow Deposit, Rook I Project Saskatchewan NI 43-101 Technical Report on Pre-feasbility Study” dated effective 5 November, 2018 (the “Rook 1 Technical Report”) prepared by Paul O’Hara, P.Eng., Jason J. Cox, P.Eng., David M. Robson, P.Eng., M.B.A., Mark B. Mathisen, C.P.G. each of whom is a “qualified person” under NI 43-101. The Rook I Technical Report is available for review under the Company’s profile on SEDAR at www.sedar.com and EDGAR (www.sec.gov/edgar.shtml) providing details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource and is available on NexGen Energy’s website (www.nexgenenergy.ca).

Forward-Looking Information

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen’s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company’s Annual Information Form dated March 4, 2019 under “Risk Factors”.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

SOURCE NexGen Energy Ltd.

For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca, www.nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca, http://www.nexgenenergy.ca

Related Links

http://www.nexgenenergy.ca/

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Eloro Resources Granted Option to Acquire the Iska Iska Polymetallic Property, Potosi Department, Southern Bolivia

Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro”, or the “Company”) is pleased to announce it has signed a Letter of Intent (the “Agreement”) with a private arm’s-length Bolivian-based corporation (the “Title Holder”), granting Eloro an option to acquire up to a 100% interest in the Iska Iska Polymetallic Property (“Iska Iska” or the “Property”), consisting of one mineral concession totalling 900 hectares. The Property is located in a world-class polymetallic mining district in the Potosi Department in the southern half of the Bolivian tin belt, which hosts the largest silver deposit in the world, the Cerro Rico de Potosi, and the polymetallic mining districts of Chorolque, Animas, Choroma, Siete Suyos, Chocaya and Tasna, situated in the same geological trend.

FIGURE 3FIGURE 2FIGURE 1

The Agreement

Under the terms of the Agreement, Eloro will conduct an exploration and development program on the Property during the four-year period following the signing of a definitive agreement (the “Definitive Agreement”), which is due on or before December 31, 2019. Within 30 days following the completion of the four year period the Title Holder will convey to Eloro’s, Bolivian subsidiary, a 100% interest in the Property upon Eloro paying the amount indicated in the table below, which amount is based on the number of mineral resource tonnes at Iska Iska in the “Inferred” and/or “Indicated” categories, as such terms are defined by National Instrument 43-101 (“NI 43-101”).

Number of Mineral Resource Tonnes at the Iska Iska
Polymetallic Property in the “Inferred” and/or “Indicated”
Categories as per NI 43-101.
Amount Payable
More than 300 million tonnesUS $10 million
More than 100 million tonnes but less than 300 million tonnesUS $5 million
More than 20 million tonnes but less than 100 million tonnesUS $3 million
Less than 20 million tonnesUS $1 million

Pursuant to the Agreement, Eloro has also agreed to issue to the Title Holder 250,000 common shares within 30 days of the signing of the Definitive Agreement and a further 250,000 common shares on or before the date which is two years from the signing of the Definitive Agreement, should Eloro elect to continue with the Iska Iska exploration program at that time.

Eloro and the Title Holder have agreed to proceed to the execution and delivery of a definitive agreement (“Definitive Agreement”) on or before December 31, 2019, incorporating the terms contained in the Agreement. The execution of the Definitive Agreement is subject to the satisfactory completion by Eloro of its ongoing due diligence investigation of the Property and also subject to the approval by the Boards of Directors of Eloro and the Title Holder, and the approval of the TSX Venture Exchange, as well as the laws of the Plurinational State of Bolivia.

The Iska Iska Polymetallic Property and Due Diligence Work Completed to Date

Iska Iska is a road accessible, royalty-free property, wholly-owned by the Title Holder and is located 48 km north of Tupiza city, in the Sud Chichas Province of the Department of Potosi (see Figure 1). The Property can be classified as a polymetallic (Ag, Zn, Pb, Au, Cu, Bi, Sn, In) epithermal-porphyry complex, which overprints an early higher temperature xenothermal phase.

Geological mapping on the Property has revealed the spatial and temporal zonation of alteration and vein minerals in an area of about 5 square kilometres through the property area (Fig. 2). Alteration minerals include quartz, chlorite, pyrite, illite, sericite, and hematite.  The polymetallic mineralization occurs mainly as veins, subsidiary vein swarms, veinlets, stockworks, and disseminated, forming a subvertical vein system in both the stock, the volcanic and sedimentary rocks. Some of the veins are “rosary” type in shear zones and tension fractures, which locally form bonanza zones and stockworks in an extensive mineralized system. Veins are typically less than 50 cm wide and have orientations between N10º at 45ºE and dips ranging from 64º SE to vertical.

The identified metallic minerals are pyrite, galena, sphalerite, complex silver-rich phases, argentite electrum, native gold, chalcopyrite and cassiterite. Gangue minerals are quartz, kaolinite, arsenopyrite, pyrrhotite, marcasite, sericite, and siderite. The mineralization represents a multiple phase (telescoped) polymetallic system with at least two stages of mineralization; an early stage with high temperature minerals as cassiterite and bismuthinite, and a lower temperature with the silver, gold, zinc, lead and copper minerals.

In August 2019, Eloro performed preliminary evaluation work at Iska Iska that included geological mapping and sampling, whereby 42 channel samples were collected. All of the channel samples included altered wall rock with widths ranging between 1.20 to 5.55 m, averaging 2.90 m. Four underground workings were sampled, including the Huayra Kasa which has two branches, one bearing a W-NW direction and the second oriented in a North-South direction, with the latter appearing to be more enriched in gold. Additionally, the Santa Barbara, Porco and Mine 2 adits were sampled, together with two sectors on surface. Chemical assays were performed at the ALS Laboratory in both Oruro, Bolivia (preparation) and in Lima, Peru (analysis).

The results of the channel sampling program are detailed in Table 1, and are summarized below:

  • Silver. Anomalous silver values range between 35.5-694 g/t Ag (46% of channel samples).
  • Gold. Anomalous gold values range between 0.31-28.6 g/t Au (42% of channel samples).
  • Zinc. Anomalous zinc values range between 1.05-16.95% Zn (37% of channel samples).
  • Lead. Anomalous lead values range between 0.41- 16.95% Pb (49% of channel samples).
  • Copper. Anomalous copper values range between 0.1->1% (22% of channel samples).
  • Bismuth. Anomalous bismuth values range between 967-7,380 g/t Bi (22% of channel samples).
  • Indium. Anomalous indium values range between 10.35 – >500 g/t In (34% of channel samples).

It is significant to note that the due diligence and sampling program was performed only on approximately 15% of the total Property area.

FIGURE 1 – Iska Iska Property Location And Main Deposits In Bolivia
https://www.globenewswire.com/NewsRoom/AttachmentNg/e0b25196-9627-470a-b62e-26a4f08de467

International Mining Presence in the Department of Potosi, Bolivia

In addition to various state mining ventures, the main projects in the private/mixed mining sector in Bolivia include the San Cristobal open-pit silver, lead and zinc mine (owned by the Sumitomo Group), the San Vicente silver mine (95% owned by Pan American Silver) and the San Bartolome silver mine (owned by Argentum Investments, AB). As well, recent foreign investment and exploration in the Potosi mining district is currently being undertaken by New Pacific Metals Corp. at their flagship Silver Sand project and by Prophecy Development Corp. at its Pulacayo-Paca project.

Tom Larsen, Eloro CEO stated, “We are delighted to sign the Letter of Intent to acquire this exciting project in Bolivia, especially as this country is starting to be recognized as a “go-to” destination for foreign investment in the mineral resource sector. The results of our initial due diligence, supervised by Dr. Osvaldo Arce, P. Geo., are very positive and suggest the potential for a large polymetallic mineralized system in a similar geological setting to other major deposits in the belt. It is significant to note that this property has not been drilled to date. We look forward to finalizing the Definitive Agreement and advancing the exploration effort at Iska Iska.”

TABLE 1 – Eloro Iska Iska Channel Sampling Results

Channel
Sample No.
Width
(m) 1
Au
g/t
Ag g/tZn %Pb %Cu g/tBi g/tIn g/tSn g/t 
HK-012.350.010.530.010.01171.0012.501.0844.9Granodiorite,  tr-1% py-aspy dissem
HK-024.100.361.390.510.44519.00123.004.7257.8Granodiorite,  1% py-aspy dissem
HK-033.102.5025.502.150.63569.00967.009.76107.5Granodiorite, brecciated 3% py dissem
HK-043.600.8510.501.990.28439.0052.5026.3071.7Granodiorite, py, gal, sph 3mm veinlets
HK-053.100.041.680.320.04187.006.516.7467Dacite, minor py, sph veinlets
HK-062.600.0746.103.010.77541.0040.80>50077.6Dacite, abundant dissem sulphides, massive sulphide veinlets.
HK-073.200.35204.004.814.13479.0030.70384.00131Dacite,  4 veinlets 1cm wide; massive sulphides, 30cm breccia
HK-083.700.0275.101.401.35219.0040.40101.5065.6Sandstone brecciated; py, aspy, gal, sph veinlets
HK-093.300.02266.005.758.24127.5071.0046.40215Sandstone brecciated, 3-5cm gal, sph, py veins
HK-102.700.01570.0010.609.721510.0073.00>500250Sandstone brecciated, abundant sph, gal, py, aspy veinlets
HK-112.40<0.011.670.690.1583.8023.709.6836.6Granodiorite, tr-1% fine sulph dissem.
HK-123.15<0.013.781.290.80105.501.945.6781.4Dacite, local fine dissem sulphides, sph, gal; 5 veinlets
HK-132.25<0.013.100.390.15111.001.259.5568.8Dacite, local fine dissem sulphides
HK-142.900.0413.600.380.43171.504.122.8252.1Granodiorite fine disseminated py
HK-152.50<0.011.821.050.03104.501.812.0766.8Dacite, boxworks FeOx, 3cm sph, py veinlets
HK-162.15<0.010.850.080.01148.002.020.9938.7Granodiorite 1% fine dissem sulphides
HK-173.00<0.015.990.310.25130.003.061.83102.5Dacite 1% fine dissem sulphides
HK-183.850.03362.009.239.53327.0066.8023.00>500Dacite carbonaceous, 5mm sph, gal veinlets, abundant sulphides dissem
HK-193.000.0337.701.511.33435.0044.108.95>500Mine front-end, granodiorite cpy, py, gn, sph veinlets & dissem
HK-202.9515.507.580.250.07617.005860.001.0423.4N-S gallery, brecciated granodiorite 1 cm 3 gn veins, 1-2% dissem py
HK-213.350.342.600.510.07150.00100.503.9525Sandstone FeOx stockwork-sulphides
HK-222.909.1073.703.801.70750.001230.00323.0065.5Sandstone networkpy, boxwork FeOx, massive aspy, 3% dissem sulphides
HK-232.9012.3557.401.861.44191.001200.0019.3542Sandstone  2-5cm  abundant veins gn-sph
HK-242.560.033.030.010.21423.0036.707.09185Granodiorite 10 py veinlets, 1% fine dissem sulphides
HK-252.550.3226.900.011.16401.00162.5028.50>500Mine front-end granodiorite fine dissem sulphides
HK-262.552.71295.000.020.48>100003160.0024.10>500Qtz Sandstone py-aspy veinlets, 10cm massive sulphide veins
HK-271.251.6155.700.010.11>10000503.004.78>500Similar to former channel sample, abund py, pyrrh, cpy, calcoc
HK-283.351.65321.000.000.352920.001850.0016.85>500Qtz sandstone, euhedral crystalspy, po, fine dissem sulphides
HK-291.960.6068.700.010.01>100001500.0010.35>500Qtz sandstone massive sulph vns, py-aspy intergrowths,-veinlets
HK-302.100.011.720.010.00129.006.310.50127.50Qtz sandstone with 3% dissem sulphides, sporadic coarse py dissem
HK-312.302.60288.000.010.421430.002850.0010.60>500Qtz sandstone oxidized-bleached, stockwork FeOx
HK-324.600.022.900.020.011375.0021.400.8375.40Granodiorite oxidized micaceous, 5 mm FeOx veinlets
HK-335.550.114.060.020.171025.0018.355.2140.40Similar to former channel sample
HK-342.100.021.610.000.0147.4017.700.6959.00Granodiorite brecciated, specularite matrix, dacite clasts
HK-352.300.010.550.000.0120.206.170.5843.60Similar to former channel sample
HK-361.602.148.990.010.72166.50646.005.8430.90Granodiorite brecciated, massive sulphide vein
HK-371.800.081.430.010.07112.508.973.8890.00Granodiorite, FeOx veinlets
HK-381.2028.6061.600.010.413140.007380.004.3717.00Massive sulphide vein 30 cm, py, po, cpy in altered granodiorite
HK-395.300.151.150.000.01137.5042.101.1365.50Granodiorite brecciated w/sulphidic matrix
HK-403.162.1868.903.753.75539.00334.005.44311.00Qtz Sandstone massive sulphides cpy, py, gn, sph, dissem, veinlets
HK-412.150.1973.401.081.08348.00428.0032.20171.50Similar to former channel sample, though includes stockwork py
HK-422.700.01694.0016.9516.95644.0037.00>500181.50Sandstone brecciated, abundant sph, gn, py, aspy vnlts

1. Reported channel sample widths are approximately 90% of true widths.
2. Abbreviations py=pyrite, gn=galena, sph=sphalerite, dissem=disseminated, aspy=arsenopyrite, qtz=quartz, FeOx=iron oxide, po=pyrrhotite, tr=trace, mm=millimetre, cm=centimetre

FIGURE 2 – Preliminary Interpretation of Iska Iska Geology and Mineral System (see Figure 3 for location map).
https://www.globenewswire.com/NewsRoom/AttachmentNg/f67b745c-e94a-4c20-84b2-a03493ae3151

FIGURE 3 – Underground Channel Sampling Iska Iska Property (Huayra Kasa Adit)
https://www.globenewswire.com/NewsRoom/AttachmentNg/f0dfd6fc-084b-4c0f-8faf-154a2678d827

Qualified Person

Dr. Osvaldo Arce, P. Geo., an expert on Bolivian geology and a Qualified Person in the context of NI 43-101 supervised the due diligence work completed at Iska Iska by Eloro. Dr. Bill Pearson, P.Geo., a Qualified Person in the context of National Instrument 43-101 has reviewed and approved the technical content of this news release. Chemical assays were performed at the ALS Laboratory in both Oruro, Bolivia (preparation) and in Lima, Peru (analysis). ALS Laboratory employs an industry standard QA/QC program.  Eloro Resources will utilize an independent QA/QC program including blanks, duplicates and external standards for its planned exploration program at Iska Iska.

Quality Assurance Quality Control Procedures and Protocol Employed by Eloro Resources Ltd.

The integrity of a resource database is fundamental to Eloro’s success in securing debt or equity finance for a new mining project. The validity and quality of data can only be guaranteed when appropriate sampling and assaying protocols have been implemented. Eloro has implemented Quality Assurance/Quality Control (QA/QC) programs in its projects applied during all phases of sampling programmes. QA/QC programmes are carefully designed and implemented at all stages of exploration and development where sampling of material is undertaken. Furthermore, QA/QC programs will require review prior to, and during, each sampling programme with modifications made where necessary based on numerous factors such as sample type, size, and the proposed sample processing and treatment methods.

Eloro acknowledges that QA/QC is required to ensure all chemical data generated over the course of a sampling programme during the overall exploration. The key areas subject to QA/QC auditing prior to mineral resource estimation will be project-specific protocols and available sample data from QA/QC sampling and analysis.

Project-specific protocols, often in the form of Standard Operations Procedures (“SOPs”), will be in place before any sampling commences. SOPs should outline the procedures and operating practices to be implemented during the sampling programmes, from the initial set up of the drill rig through to the analysis of QA/QC data upon receipt of the sampling results. SOPs help to ensure that a culture of QA/QC is established throughout sampling programmes, and also aid in identifying areas of risk within a procedure where errors could occur.

Three essential stages which are applicable to all projects are the following:

  • It will be standard practice to include the right mix of QA/QC materials in every batch of samples submitted to a laboratory.
  • The geologist/technician initiating the analysis will critically review the results of all QA/QC samples within a sample batch as soon as the results are received from the laboratory. This will be undertaken prior to the associated data being included within the resource database, and used to update any resource models.
  • Action must be taken when QA/QC results fall outside of predetermined acceptable limits.

QA/QC materials inserted into sample streams will be used to assess the three fundamental aspects (precision, accuracy, identification of errors) of QA/QC. Best practice QA/QC programmes will include a combination of the following QA/QC materials:

Primary Standards (or Standards, Certified Reference Materials (“CRMs”)

Material with a known metal content and specific chemical characteristics similar to the mineralisation being sampled, will be utilised to evaluate bias within a sample dataset. These can be externally sourced commercial standards (CRMs) or company ‘in house’ standards (which require a specific QA/QC analytical testing programme). For example Eloro has reviewed projects in the past where in order of 10 different standards were used with some standards being only inserted into the sample stream 2 or 3 times, therefore not providing a large enough population for meaningful assessment.

Blank Samples

Samples containing no detectable trace of the key mineral(s) identified within the resource will be inserted into sample streams to identify the presence of any contamination introduced at the laboratory or in sample preparation. Alternatively, quantities of material suitable for use as blanks will be purchased commercially. Blank samples allow the QP to monitor the cleanliness of the sample preparation equipment (on site or at the laboratory) and calibration of analytical equipment.

Duplicates

‘Field’ duplicate samples will be formed from splitting the original sample interval into equal portions and submitting both samples for analysis (pulp duplicates should be taken by the laboratory of choice during sample preparation). A drawback with following pre-determined duplication (i.e. every 20 samples) is that it can lead to many repeats of background (waste) material.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Peru and Quebec. Eloro owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. The Property consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. The Property has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.

For further information please contact either Thomas G. Larsen, President and CEO or Jorge Estepa, Vice-President at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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World-Class Signs LOI with Canntab Therapeutics to Deploy its Second Extraction & Processing Facility

World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF) (the “Company” or “World-Class“), a vertically integrated provider of advanced extraction and processing systems is pleased to announce the signing of a binding Letter of Intent (“LOI“) to establish a joint venture (the “Joint Venture“) with Canntab Therapeutics Limited (CSE:PILL.CN) (“Canntab“) to set-up, manage and operate a cannabis and hemp extraction and processing facility at Canntab’s manufacturing center in Markham, Ontario (the “Facility“).

World-Class is entering into various joint venture agreements to deploy its systems and this agreement represents the second Canadian deployment. Canntab, a leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic application, is a late stage applicant under the Cannabis Act (Canada). The Facility will process high-quality cannabis and hemp oils and derivatives upon Canntab receiving its Standard Processing license from Health Canada.

World-Class and Canntab will each hold a 50% interest in the Joint Venture. The Joint Venture will generate revenue from extraction and processing of cannabis and hemp through its biomass extraction and processing services for third-party license holders (“Toll Processing“).

The Facility is expected to commence operation by the end of 2019 (pending Health Canada approval) and will initially have an extraction and processing capacity of up 220 kilos of biomass per day, which, for example, could provide approximately 18 kilos of oil from high potency cannabis, depending on the concentration levels of the input biomass. The net operating income generated from operations of the Joint Venture will be paid to World-Class until the Systems are fully paid. Thereafter, World-Class and Canntab will share the net profit generated in the Joint Venture 50/50.

As part of the Joint Venture, World-Class will provide equipment and systems (the “Systems“) as well as its expertise and management in the production of cannabis and hemp extracts to be used in Canntab’s solid pill and gel-capsule formulations. Under the agreement, the Systems will remain under World-Class ownership until fully paid for, at which time the Systems will become the property of the Joint Venture.

Canntab has completed the construction of the area for the Facility, and under the guidance of World-Class, Canntab and World-Class are working together to finalize the installation plan of the Systems to set-up and deploy the Facility. Deployment of the Systems commence in October 2019, and include two (2) second generation BOSS CO2 Extraction Systems (the “BOSS“), along with all other required processing equipment, from the preparation of biomass to the final refinement of oil, including remediation equipment to clean and remove undesirable elements from the oil.

“We are excited to announce this strategic Joint Venture with Canntab and we are pleased that Canntab places their trust in our technology, people and our breadth of knowledge and experience in the cannabis and hemp extraction and processing space,” states Rosy Mondin, CEO of World-Class. “We look forward to supporting Canntab’s growth as a global leader of research and production of hard-pill oral dosage therapeutic cannabis product forms. Our World-Class team has spent the last half-decade concentrating on R&D to bring leading technology and solutions to cannabis and hemp oil extraction. The Joint Venture will receive recurring revenue through its Toll Processing services and will increase World-Class’ market presence. Joint venture partnerships, such as the ones with FV Pharma Inc. and Canntab, are key to the growth and success of World-Class.”

“The availability of supply and unsustainable pricing within the extraction marketplace is a concern,” said Jeff Renwick, Co-Founder and CEO of Canntab. Mr. Renwick continues, “having the BOSS and World-Class’ expertise will give Canntab the ability to control its own destiny by securing an ongoing supply for its manufacturing operations, where required. Multiple separation technologies including chromatography will also allow Canntab to separate the various cannabinoids and terpenoids, in order to diversify and expand its portfolio of cannabis based solid oral dosage forms. With these elements, such as CBN and CBG, Canntab will be able to do further research into promising formulations that may approach a range of medical conditions.”

The BOSS provides proprietary systems and methods for producing cannabis extracts. Its technology performs sub-critical and super-critical CO2 extraction; combines proprietary max flow technology with advanced thermodynamics, automated features, exclusive plug and play design with a CIP (Clean-in-Place) system. The BOSS can process up to 110 kg per day, providing cannabis and hemp license holders with access to cost-efficient technology to extract oil to produce value-added products.

About World-Class

World Class Extractions Inc. develops industrial grade extraction and processing systems for cannabis and hemp and is establishing extraction and processing facilities through strategic joint venture relationships. World-Class is commercializing its processes, providing cost-effective and at-scale production to produce high margin, high-quality cannabis oils and premium refined oil products. World-Class operates through two wholly owned subsidiaries: Soma Labs Scientific Ltd. and Greenmantle Products Ltd.

About Canntab Therapeutics

Canntab Therapeutics Ltd. is a Canadian company engaged in the research and development of advanced, pharmaceutical-grade formulations of cannabinoids and terpenes. In doing so, Canntab has developed a suite of precision oral dose products that are unavailable elsewhere in the marketplace, formulated in multiple doses and time release combinations. Canntab’s proprietary hard pill cannabinoid formulations will provide doctors, patients and the general consumer with a medical grade solution with all the features you would expect from any prescription or over the counter medication. Canntab can produce these unique products with relatively minimal capital expenditure requirements therefore positioning the Company to maintain high gross profit margins due to its extensive inventory of machinery and equipment.

Investor Contact

Christina Rao & Daniel Mogil
World-Class Investor Relations
1-604-723-7480
ir@worldclassextractions.com

Cautionary Note Regarding Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. 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. Forward looking statements include, but are not limited to, the anticipated closing of any acquisitions by the Company, the continued growth and expansion of the Company’s operations, and the receipt of regulatory approvals, including the approval of the CSE. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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.

SOURCE: World Class Extractions

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Millennial Lithium Corp. Announces Granting of Federal Fiscal Stability Certificate from the Government of Argentina

Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) (“Millennial” or the “Company”) is pleased to announce that the National Mining Secretary of Argentina, part of the National Ministry of Work and Production, has signed and granted a Federal Fiscal Stability Certificate (the “Certificate”) for the Company’s Pastos Grandes Project. The Certificate outlines the tax regime and additional benefits bestowed upon its Pastos Grandes lithium project in the province of Salta for the next 30 years.

Farhad Abasov, President and CEO commented, “Millennial is pleased to announce another important milestone in the development of our Pastos Grandes Project has been achieved. The granting of the Federal Fiscal Stability Certificate by the Federal Government of Argentina assures the tax and benefit terms under which Proyecto Pastos Grandes S.A., the Millennial Argentine subsidiary, can operate a lithium carbonate production operation. The main aspect of the Federal Fiscal Stability Certificate is the confirmation of a reduction in the corporate tax rate to 25% as of January 1, 2020 and the Company will benefit from any further corporate income tax reductions. Millennial continues to advance our lithium project at Pastos Grandes with pilot plant construction underway and active pilot ponds and receipt of the Certificate continues to confirm our confidence that mining projects in Salta have the support of all levels of government.”

The company, through its legal advisors, Arganaraz & Associates Law Firm, working with the Buenos Aires-based law firm Beretta Godoy, applied for the Certificate in November, 2018. The Certificate fixes the total tax burden as of the application date as the maximum applicable to the Pastos Grandes Project for 30 years. If the total tax burden decreases, the Company will benefit from that reduction, but any increase in federal taxation cannot increase the total tax liability as of the date of filing.

The main feature of Millennial’s Federal Fiscal Stability Certificate is the incorporation of the reduction of the corporate income tax rate from 30% to 25% as of January 1, 2020 (Law 27.430, modified subsection A), Article 69 of the Income Tax Law). The Certificate applies to federal taxes, including Income Tax, Debits and Credits Tax and Diesel Tax among others. The protection applies to any other tax changes as provincial and municipal taxes are also subject to federal Mining Stability Laws intended to provide to mining companies certainty as to their future tax burdens. Certificates have been issued by the Municipality of Salta, as well as the Municipality of San Antonio de Los Cobres, the municipality within which the Pastos Grandes Project is located. The Provincial certificate from Salta Province is expected in October, 2019.

This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a Qualified Person as that term is defined in National Instrument 43-101.

To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.

MILLENNIAL LITHIUM CORP.

“Farhad Abasov”

President, CEO and Director

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 news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Argentina which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties, export policies or taxes in Argentina and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

info

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Goldplay Exploration Ltd. Announces $2.5M Brokered Private Placement

Goldplay Exploration Ltd. (TSXV: GPLYFRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) announces that it has engaged Pollitt & Co Inc. (the “Agent“) to sell, by way of a private placement on a “best efforts” basis, up to 12,500,000 common shares of the Company (the “Shares“) at a price of $0.20 per Share (the “Issue Price“) for gross proceeds of up to $2,500,000 (the “Offering“), subject to receipt of all applicable regulatory approvals.

In addition, the Company has granted the Agent an option to increase the size of the Offering by up to 20% of the number of Shares. This option will be exercisable at any time up to seventy-two (72) hours prior to the closing of the Offering, on the same terms and conditions under the Offering.

In connection with the Offering, the Agent will be entitled to a cash fee in an amount equal to up to 6% of the gross proceeds of the Offering. In addition, the Company will issue to the Agent non-transferable common shares purchase warrants (the “Agent’s Warrants“) which will entitle the holder thereof to acquire such aggregate number of common shares of the Company (the “Agent’s Warrant Shares“) as is equal to up to 6% of the number of Shares sold under the Offering. Each Agent’s Warrant will be exercisable for one Agent’s Warrant Share for three years at a price of $0.25/share.

The Company intends to use the net proceeds of the Offering for exploration work on the Company’s San Marcial property in Mexico and for working capital and general corporate purposes. All securities issued in connection with the Offering will be subject to a four month hold period from the date of issue in accordance with applicable securities laws. The Offering is subject to approval of the TSX Venture Exchange.

The Offering is currently expected to close on or about October 30, 2019, or such other date or dates as the Company and the Agent may agree.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About Goldplay Exploration Ltd.

Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral concessions in the historic Rosario gold-silver Mining District in the state of Sinaloa, Mexico. Its flagship project, San Marcial, consists of a 1,250 ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. Additionally, high-grade gold was drilled in July 2019 at San Marcial, opening up the potential for further gold success. Goldplay’s 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.

Goldplay’s current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. Goldplay is the first company to perform exploration work at San Marcial in over 10 years. It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. Only 500 m of the 6 km trend has been drilled to date, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and is currently drilling two high-priority targets at Faisanes and Nava. Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historic shallow underground mining along a 6 km-long prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which 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.

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available 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: info@goldplayexploration.com

Related Links

http://www.goldplayexploration.com/

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Marathon Gold Announces Appointment of Hannes Portmann as Chief Financial Officer

Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce the appointment of Hannes Portmann as Chief Financial Officer, effective October 16, 2019.

Mr. Portmann is a mining executive with significant financial management and capital markets experience. Most recently (2008 to 2018) he was employed by New Gold Inc. in a series of progressively more senior roles including Executive Vice President, Business Development and, ultimately, President and Chief Executive Officer. Prior to New Gold, he was a member of the Merrill Lynch investment banking mining group (2006 to 2008) and the assurance and advisory practices of PricewaterhouseCoopers LLP (2002 to 2006). Mr. Portmann is a Chartered Professional Accountant.

Matt Manson, President and CEO, stated, “On behalf of the board of directors, I am excited to welcome Hannes to the Marathon Gold team. Hannes will assume immediate responsibility for the day to day financial management of our business. At the same time, he will take on an expanded mandate covering Business Development, drawing upon his extensive mining industry and capital markets experience. Hannes’ skill sets are extremely complimentary to those of our existing senior leadership team, and I look forward to partnering with him as we move forward with the development of the Valentine Gold Project in Newfoundland.”

Mr. Portmann holds a Bachelor of Science in Mining Engineering from Queen’s University and a Masters of Management and Professional Accounting from the Rotman School of Management, University of Toronto. Mr. Portmann is also a member of the Board of Directors of SilverCrest Metals Inc.

Matt Manson added, “We also wish to express our gratitude to Jim Kirke, Chief Financial Officer and Corporate Secretary, who will be leaving the Company after a transitionary period. Mr. Kirke has played an integral part in the success of Marathon Gold and its predecessor companies, and we wish him well in his future endeavours.”

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Project located in central Newfoundland, one of the top mining jurisdictions in the world. The Valentine Gold Project comprises a series of mineralised deposits along a 20-kilometer system of gold bearing Quartz-Tourmaline-Pyrite veins. The project is accessible by year-round road and is in close proximity to the provincial electrical grid. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits. An October 2018 Preliminary Economic Assessment showed the project to be amenable to open pit mining and conventional milling over a twelve-year mine life. Total Mineral Resources currently comprise Measured Mineral Resources of 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold, Indicated Mineral Resources of 28.5 million tonnes at a grade of 1.66 g/t containing 1,524,900 oz. of gold and Inferred Mineral Resources of 26.9 million tonnes at a grade of 1.77 g/t containing 1,531,600 oz. of gold. For more information, readers are referred to the technical report prepared in accordance with the requirements of NI 43-101 dated October 30, 2018 for further details and assumptions relating to the project.

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

For more information, please contact:

Matthew Manson, PhD Christopher Haldane

President and Chief Executive Officer Manager Investor Relations

Tel: 416-987-0711 Tel: 416-987-0714

Email: mmanson@marathon-gold.com Email: chaldane@marathon-gold.com

To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are 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”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. More particularly and without restriction, this press release contains forward-looking statements and information about future exploration plans, objectives and expectations of Marathon, future mineral resource and mineral reserve estimates and updates and the expected impact of exploration drilling on mineral resource estimates, future pre-feasibility and feasibility studies and environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements and information concerning the interpretation of exploration results and the impact on the project’s mineral resource estimate, Marathon has provided such statements and information in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

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. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability of the current exploration program to identify and expand mineral resources, operational risks in exploration and development for gold, delays or changes in plans with respect to exploration or development projects or capital expenditures, uncertainty as to calculation of mineral resources, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources), changes in development or mining plans due to changes in logistical, technical or other factors, cost escalation, changes in general economic conditions or conditions in the financial markets. delays and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2018 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. Other than as specifically required by law, Marathon undertakes 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 or results otherwise.

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Goldplay Channel Sampling Program Reports High-Grade Silver Results at San Marcial Project Including 0.6 m @ 587 g/t Ag

Goldplay Exploration Ltd. (TSXV: GPLYFRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that encouraging results in both silver (Ag) and gold (Au) have been received from the San Marcial Project, in Sinaloa State, Mexico.

  • Channel sampling results include 0.6 m @ 587 g/t Ag and anomalous Au
  • Surface channel samples taken along the access road at the Faisanes Target
  • Drilling continues at the Faisanes and Nava Targets
  • Results support the Company’s theory that a high-grade precious metals system extension exists outside the San Marcial NI 43-101 resource (News Release dated 7 February, 2019)

Surface exploration and channel sampling at Faisanes have revealed additional high-grade silver and gold anomalies (Figure 1). Channel sampling consisted of saw-cutting along the road walls and road surface near the SM-19-01 discovery drill hole (News Release dated 30 July, 2019), which returned a 1 m intercept of 204.6 g/t gold. The channel sampling was augmented by systematic geological and structural mapping along the road.

The high-grade silver and anomalous gold samples are located on the NW edge of the existing resource area and as such are interpreted as potential extensions of the breccia-hosted silver mineralization. Additional investigations are underway to understand the links between these anomalous silver and gold zones and the high-grade gold result recently reported in SM-19-01 (Figure 2). The following table outlines the latest channel sample results:

Table 1:   San Marcial Trench SMtr-001 Extensions: Best assay results

Type

Location

From (m)

To (m)

Sample

Grade Ag

Grade Au

Length (m)

(g/t)

(g/t)

Channel

Extension Trench SMtr-001

1.0

11.0

10.0

98

0.06

including

8.0

10.0

2.0

132

0.15

Channel

Road Surface

0.0

0.6

0.6

587

*

Road Surface

0.6

1.6

1.0

214

*

Road Surface

1.6

2.7

1.1

42

*

Channel

Nth extension – creek

1.0

2.0

1.0

41

0.26

All numbers are rounded. Insufficient information is known of the orientation and controls of these latest intervals to determine true thickness. As a result, the thickness represented here is actual sample thickness. Mineralized zones are calculated allowing for maximum 1 m of internal waste. High-grade interval uses 80 g/t Ag cut-off grade and low-grade interval uses 30 g/t Ag cut-off grade. * Below detection limit

Goldplay President and CEO Marcio Fonseca commented, “Over recent months, our exploration activities to expand current NI 43-101 silver resources at San Marcial have succeeded in delineating new high-grade silver and gold targets. Additionally, we have recently discovered new, high-grade silver zones peripheral to the resource area. These silver and gold results support our theory of a high-grade mineralized system hosted in geological structures (faults) on the NW edge outside of the resource area. We expect to further explore these geological structures hosting high-grade mineralization, targeting the definition of additional resources at the Faisanes target.”

CURRENT DRILL PROGRAM

The Company is currently executing its maiden drill program at San Marcial, focusing on the Faisanes and Nava targets. To date, one drill hole has been completed at Faisanes and three drill holes have been completed at Nava. Additional holes at both targets will be completed in this current drill program.

Phase I drilling at San Marcial brought immediate success with drill hole SM-19-01 intersecting a very high-grade gold interval of 1 m at 204.6 g/t Au at Faisanes on the NW edge of the Resource (Figure 1). This high-grade gold intercept has been followed up with detailed geological and geochemical modelling of the target. Findings from the latest mapping and sampling, including geological/structural evidence of additional structures hosting mineralization, strongly support further drilling along the 600 metres of strike length at Faisanes in the Phase I drilling program.

The Company is currently drilling at the Nava target located 1.5 km west of the San Marcial resource area and approximately 1 km west of the Faisanes discovery. A 500 metre-long gold mineralized zone has been defined on surface at Nava. For further details, see News Release dated 10 July, 2019. Drilling at Nava will comprise four shallow drill holes testing continuity of mineralization discovered by surface trenching across shallow artisanal workings. Laboratory analyses for Nava drill holes are pending.

Qualified Person

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 in Burnaby, BC. The analytical methods are 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

About Goldplay Exploration Ltd.

Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral concessions in the historic Rosario gold-silver Mining District in the state of Sinaloa, Mexico. Its flagship project, San Marcial, consists of a 1,250 ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. Additionally, high-grade gold was drilled in July 2019 at San Marcial, opening up the potential for further gold success. Goldplay’s 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.

Goldplay’s current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. Goldplay is the first company to perform exploration work at San Marcial in over 10 years. It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. Only 500 m of the 6 km trend has been drilled to date, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and is currently drilling two high-priority targets at Faisanes and Nava. Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historic shallow underground mining along a 6 km-long prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which 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.

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available 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: info@goldplayexploration.com

Related Links

http://www.goldplayexploration.com/

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Marathon Gold Reports New Drill Results from Marathon Deposit at Valentine Gold Project, NL

Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZis pleased to announce positive results from the ongoing infill drilling campaign at the Marathon Deposit, part of the Valentine Gold Project in central Newfoundland. The new drilling continues to successfully demonstrate the occurrence and continuity of gold mineralization both along and across strike of the 1,500-meter long “Main Zone” within the Marathon Deposit, as well as from surface to the base of the currently planned open pit, where mineralization remains open to depth. In particular, the latest results confirm significant new zones of gentle SW-dipping, en-echelon stacked Quartz-Tourmaline-Pyrite-Gold (“QTP-Au”) veining in areas of limited previous drilling within the southwestern area of the planned Marathon open pit. Highlights of the latest drilling include:

October 2, 2019 Drill Map

  • Main Zone: MA-19-430 intersected 4.64 g/t Au over 29.0 meters including 18.41 g/t Au over 3.0 meters and 9.00 g/t Au over 2.0 meters, and 2.08 g/t Au over 15.0 meters including 7.44 g/t Au over 2.0 meters.
  • Main Zone: MA-19-434 intersected 2.36 g/t Au over 39.0 meters including 7.03 g/t Au over 6.0 meters, 17.03 g/t Au over 1.0 meters and 11.42 g/t Au over 1.0 meters, as well as 4.55 g/t Au over 9.0 meters including 8.34 g/t Au over 2.0 meters.
  • Main Zone: MA-19-431 intersected 3.38 g/t Au over 29.0 meters including 16.37 g/t Au over 3.0 meters, and 3.32 g/t Au over 3.0 meters.
  • Main Zone: MA-19-429 intersected 2.22 g/t Au over 25.0 meters including 7.31 g/t Au over 4.0 meters, and 4.24 g/t Au over 3.0 meters.
  • Main Zone: MA-19-435 intersected 1.90 g/t Au over 26.0 meters including 7.42 g/t Au over 3.0 meters, as well as 9.27 g/t Au over 3.0 meters and 7.52 g/t Au over 3.0 meters.
  • Main Zone: MA-19-413 intersected 2.33 g/t Au over 20.0 meters including 11.79 g/t Au over 2.0 meters, and MA-19-419 intersected 2.55 g/t Au over 12.0 meters including 7.33 g/t Au over 2.0 meters.
  • Main Zone: MA-19-424 intersected 6.89 g/t Au over 3.0 meters, MA-19-425 intersected 5.34 g/t Au over 3.0 meters, MA-19-426 intersected 6.14 g/t Au over 4.0 meters and MA-19-427 intersected 5.33 g/t Au over 3.0 meters.
  • Main Zone NE: MA-19-418 intersected 3.72 g/t Au over 10.0 meters including 10.66 g/t Au over 3.0 meters, and 2.11 g/t Au over 14.0 meters including 6.36 g/t Au over 2.0 meters, MA-19-417 intersected 4.67 g/t Au over 5.0 meters, and MA-19-412 intersected 10.61 g/t Au over 3.0 meters.

The latest drilling has been oriented downward at a high-angle through the en-echelon stacked, shallowly SW dipping QTP-Au veins which form the dominant vein orientation within the sub-vertical Main Zone corridor of the Marathon Deposit (Table 1; Figure 1). It represents infill drilling in areas currently classified as Inferred Mineral Resources in the October 2018 Mineral Resource Estimate. Assays are pending for additional new drill holes which have also intersected significant QTP-Au veining in areas of limited previous drilling in the southwest Main Zone corridor.

Three drill rigs are currently operating at the Marathon Deposit. Based on the results achieved to date, additional drilling has been approved in the southwest extension area of the Marathon Deposit, both infill and exploratory. This will bring the total meterage to be drilled at the Marathon and Leprechaun Deposits in 2019 to approximately 60,000 meters. This extended program is expected to be completed by mid-October. Thereafter, two drill rigs will move on to complete a planned 7,000-meter exploration drilling campaign at the Sprite Zone.

All drilling completed to the middle of October will be utilized in the upcoming Mineral Resource update for the Valentine Gold Project, expected to be completed in the fourth quarter of this year.

In addition to the exploration drilling, hydrogeology drilling and geotechnical test pitting programs will be completed in October, the results of which will be used in infrastructure design for the upcoming Valentine Pre-Feasibility study scheduled for the second quarter of 2020.

TABLE 1: Significant assay intervalsMarathon Deposit, Valentine Gold Camp
DDHZone*SectionAzDipFromToCore
Length
(m)
True
Thickness
(m)
Gold_g/t
MA-19-412HW17310343-85262932.910.61
10110543.81.20
MA-19-413MZ17050343-7522723032.71.49
2963162018.02.33
including30530721.811.79
34034332.72.51
MA-19-416MZ17010343-7510911232.72.09
12612932.71.12
19620043.61.07
28528832.72.27
MA-19-417MZ17470343-8626026332.91.34
27027332.91.26
27728032.91.38
29029554.84.67
MA-19-418MZ17290343-70101332.60.95
434632.61.22
144154108.53.72
including15015332.610.66
16416732.62.68
1721861411.92.11
including17918121.76.36
20620932.61.01
MA-19-419FW16710343-7510911232.71.52
1711831210.82.55
including17517721.87.33
19720032.71.61
MA-19-420MZ16980343-8110410732.93.32
11712032.92.09
25025332.92.32
MA-19-421FW16860343-80161932.91.11
MA-19-422MZ16710343-67313432.42.95
 394564.82.02
 11812132.42.60
MA-19-423FW16810343-8023623932.91.89
26226643.82.52
30030665.72.44
32332632.92.33
MA-19-424HW16980343-8030030332.96.89
MA-19-425MZ16710343-69232632.65.34
 515432.62.54
 16416732.63.12
MA-19-426FW16810343-80636743.86.14
 717432.91.26
MA-19-427FW16870343-80121532.95.33
 859054.81.79
 20520832.92.45
MA-19-429MZ16750163-7513714143.61.55
15615932.71.99
18719032.74.24
20420732.71.05
21521943.62.03
 2823072522.52.22
including29930343.67.31
MA-19-430MZ16960343-75182132.71.67
10110432.73.35
11311632.72.04
 1461611513.52.08
including15916121.87.44
19519832.72.40
21021332.72.13
2702992926.14.64
including27427621.89.00
including28128432.718.41
35836132.72.04
MA-19-431MZ16880343-80525643.81.48
727532.91.41
899232.91.43
15215532.92.96
23523832.91.77
 2432722927.63.38
including25325632.916.37
29830132.93.32
32432732.93.00
MA-19-432HW16750163-75444732.71.46
 596232.71.22
 15115432.73.03
 18819243.62.07
MA-19-433FW16750163-75111432.72.73
MA-19-434MZ16950343-67576032.63.21
919432.61.07
12212532.62.86
 1391783933.22.36
including13914010.911.42
including16417065.17.03
including17717810.917.03
28228532.62.52
 31232197.74.55
including31231421.78.34
42142432.64.35
MA-19-435MZ16870343-80374032.91.76
606887.61.56
858832.92.02
10610932.99.27
 1171432624.71.90
including12813132.97.42
16016443.84.41
18919232.97.52
*MZ = Main Zone, HW = Hanging Wall, FW = Foot Wall
*No significant intervals in MA-19-414, MA-19-415 and MA-19-428 drilled outside of the Main Zone

Figure 1: Location of the main zone mineralized corridor, October 2018 pit shell outline and new drill holes MA-19-412 to MA-19-435, Marathon Deposit: https://www.globenewswire.com/NewsRoom/AttachmentNg/c321be8e-b9a6-49c9-882f-71d0d432f797

Marathon utilizes Corebox for 3D visualization of our drill results at the Valentine Gold Project. Please visit our website at www.Marathon-Gold.com.

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Qualified Person

Disclosure of a scientific or technical nature in this press release was prepared under the supervision of Sherry Dunsworth, MSc., P.Geo. (NL), the Senior VP of Exploration and a qualified person under National Instrument (“NI”) 43-101.

Quality Assurance-Quality Control (“QA/QC”)

QA/QC protocols followed at the Valentine Gold Project include 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 (80% – 95% of core length).

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Project located in central Newfoundland, one of the top mining jurisdictions in the world. The Valentine Gold Project comprises a series of mineralised deposits along a 20-kilometer system of gold bearing Quartz-Tourmaline-Pyrite veins. The project is accessible by year-round road and is in close proximity to the provincial electrical grid. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits. An October 2018 Preliminary Economic Assessment showed the project to be amenable to open pit mining and conventional milling over a twelve-year mine life. Total Mineral Resources currently comprise Measured Mineral Resources of 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold, Indicated Mineral Resources of 28.5 million tonnes at a grade of 1.66 g/t containing 1,524,900 oz. of gold and Inferred Mineral Resources of 26.9 million tonnes at a grade of 1.77 g/t containing 1,531,600 oz. of gold. For more information, readers are referred to the technical report prepared in accordance with the requirements of NI 43-101 dated October 30, 2018 for further details and assumptions relating to the project.

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

For more information, please contact:
Matthew Manson, PhDChristopher Haldane
President and Chief Executive OfficerManager Investor Relations
Tel: 416-987-0711Tel: 416-987-0714
Email: mmanson@marathon-gold.comEmail: chaldane@marathon-gold.com
To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are 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”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. More particularly and without restriction, this press release contains forward-looking statements and information about future exploration plans, objectives and expectations of Marathon, future mineral resource and mineral reserve estimates and updates and the expected impact of exploration drilling on mineral resource estimates, future pre-feasibility and feasibility studies and environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements and information concerning the interpretation of exploration results and the impact on the project’s mineral resource estimate, Marathon has provided such statements and information in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

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. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability of the current exploration program to identify and expand mineral resources, operational risks in exploration and development for gold, delays or changes in plans with respect to exploration or development projects or capital expenditures, uncertainty as to calculation of mineral resources, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources), changes in development or mining plans due to changes in logistical, technical or other factors, cost escalation, changes in general economic conditions or conditions in the financial markets. delays and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2018 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. Other than as specifically required by law, Marathon undertakes 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 or results otherwise.

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World Class Extractions Reports Financial Results With 59% Gross Margin for The Three-Month Period Ended July 31, 2019

World-Class Extractions Inc. (“World-Class” or the “Company“) (CSE: PUMP) (FRA:WCF) is pleased to report the financial and operating results for its first quarter ended July 31, 2019.

First quarter highlights (unaudited):

Financial

  • The Company had cash (available and restricted) at July 31, 2019 of $13,901,616
    (April 30, 2019 – $16,002,152) to settle current liabilities of $1,474,093 (April 30, 2019 – $325,281).
  • Net Total Asset position as at July 31, 2019 is $51,358,368.
  • The net loss and comprehensive loss for the three months ended July 31, 2019 was $4,222,132 as compared to July 31, 2018 of $286,880). The increased loss for the quarter includes sales revenue of $167,802; cost of sales of $69,074; acquisition fees of $982,675; amortization expense of $702,611; consulting fees of $262,773; development and research of $254,258; professional fees of $359,549; management fees of $54,500; remuneration and benefits of $237,519; share-based payments of $993,135; and travel expenses of $365,734.
  • Revenue of $167,802 for the quarter ended July 31, 2019 compared to nil revenue for the quarter ended April 30, 2019. Gross margin for the quarter ended July 31, 2019 was 59%.
  • Operating activities generated a net cash outflow of $1,883,725. The increased use of cash is primarily attributable to marketing to attract new customers, research and development of current potential new product lines, purchasing of inventory and increase in staffing all related to an expected further expansion of the Company’s revenue.

Corporate

  • After completing a $23 million financing, World-Class completed a merger transaction with Quadron Cannatech Corporation (“Quadron”). Management believes the synergy with Quadron is optimal as the Company continues to develop industrial grade extraction and processing systems for cannabis and hemp. World-Class is commercializing its processes by providing cost-effective and at-scale production to produce high margin, high-quality extracts, premium derivative products, and consumer brands.
  • Entered into a hemp supply agreement with certain suppliers to purchase hemp crop at an agreed price and share in the proceeds.
  • Announced a Revenue Collaboration Agreement with Parity Partners PBC (“Parity”), whereby Parity sources appropriate locations in the United States to locate the Company’s extraction and processing systems.

Subsequent to July 31, 2019:

Certification

  • Obtained additional provincial CRN pressure-vessel certification for its proprietary, automated, next-generation BOSS CO2 Extraction System. The BOSS CO2 Extraction System is now officially certified in British Columbia, Alberta and Ontario.

Joint Venture with FV Pharma Inc.

  • Entered into an agreement with FV Pharma Inc. to establish a Joint Venture to develop, manage and operate a large capacity extraction and processing facility for cannabis and hemp in Cobourg, Ontario (the “Facility”). The agreement amends, supersedes, and replaces in its entirety, the Collaboration and License Agreement dated November 23, 2018 between World-Class and FV Pharma Inc.
  • The Facility will be deployed in multiple phases to satisfy the increasing market demand as the legal recreational market for cannabis extracts and extract-based products rapidly approaches.
  • The Joint Venture is entering into a 5-year lease agreement with an additional 5-year renewal option with FV Pharma Inc. The lease (and initial phase of production), is scheduled to commence December 1, 2019 which contains provisions for the expansion of the Facility.
  • During the initial phase, World-Class, through its wholly-owned subsidiary Soma Labs Scientific Inc. (“Soma Labs”), will deploy several BOSS CO2 Extraction Systems as well as the BEAST Ethanol Extraction System, along with all the ancillary equipment required for the preparation of the biomass, as well as refining and distillation processes.
  • As part of the Joint Venture, FV Pharma Inc. will provide its Standard Processing license under the Cannabis Act (Canada), which it received in February 2019.
  • With ample room to expand, the Facility will initially have an extraction and processing capacity of up 5,000 pounds of biomass per day. As market demand increases, additional equipment will be deployed by the Joint Venture to accommodate the extraction and processing of up to 75,000 pounds per day.
  • The Joint Venture is expected to provide revenue growth through processing material for FV Pharma Inc. as well as additional revenue growth through partnership opportunities as the processing center can perform toll processing extraction for third-party license holders utilizing FV Pharma Inc’s processing license. The Joint Venture marks a significant milestone for World-Class in preparation for the legalization of recreational cannabis extracts, edibles and topical products which will be available to consumers in upcoming months.

Following the execution of Definitive Agreements, the parties will each have a 50% interest in the Joint Venture.

About World-Class

World-Class develops industrial grade extraction and processing systems for cannabis and hemp and is establishing extraction and processing facilities through strategic joint ventures. World-Class is commercializing its processes by providing cost-effective and at-scale production to produce high margin, high-quality extracts, premium derivative products, and consumer brands. World-Class operates through two wholly-owned subsidiaries: Soma Labs Scientific Ltd. and Greenmantle Products Ltd.

Investor Contact

Christina Rao & Daniel Mogil

World-Class Investor Relations

1-604-723-7480

ir@worldclassextractions.com

Cautionary Note Regarding Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. 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. Forward-looking statements include, but are not limited to, the anticipated closing of any acquisitions by the Company, the continued growth and expansion of the Company’s operations, and the receipt of regulatory approvals, including the approval of the CSE. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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.

SOURCE: World-Class Extractions Inc.

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