Dundee Precious Metals

Dundee Precious MetalsDundee Precious Metals (T.DPM) is a Canadian-based international mining company engaged in the acquisition, exploration, development, mining and processing of precious metal properties. Our current operations are in Namibia and Bulgaria, with exploration in Armenia, Bulgaria and Serbia.

 

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Renforth Identifies Surimeau Project, with ~19km Polymetallic Mineralized Trend

Renforth Resources Inc. (CSE:RFR)(OTC PINK:RFHRF)(WKN:A2H9TN) (“Renforth” or the “Company”) has completed our June field work successfully and is particularly impressed with the results of our initial prospecting work at Malartic West, results will be released as available.

  • Malartic West – visual confirmation of the presence of mineralization, noted historically, was obtained. This included sphalerite and minor chalcopyrite set within multiple felsic units, interlayered with narrow bands of graphitic shale. Also encountered were multiple bands of ultramafic rocks, including serpentinite and pyroxenites, these were historically investigated for their nickel content. Renforth’s investigation, and assay protocols, extends to testing for gold, nickel, copper, zinc and PGEs. With the exception of PGEs each of these metals was historically documented in various programs and locations within the system. The relationship between the felsic and ultramafic mineralization has not yet been determined.
    The southern claims, the focus of the work, hosted 3 areas of historic mineralization, in two bands approximately 4 kms apart (north-south) with a strike length of approximately 19 kms (east-west) between them, previously referred to as Lalonde, Victoria and Colonie. Renforth is the first company to consolidate all of these historic mineralized areas and approach them as a system. Renforth will, going forward, refer to this system as the Surimeau Project, separating the claims out of the Malartic West block.
  • Parbec – obtained with prospecting was an extension of the Diorite Splay veining on surface, with additional veining uncovered and sampled, assay results pending. The structural interpretation of the mineralization in the sediments is continuing, sampling ended due to overburden beyond hand tool abilities in one direction and with the vein entering a fault in the other.
  • Beep Mat – data was successfully acquired at both New Alger, in the area of the Discovery Veins, and at Parbec, in the area of the Diorite Splay. Some initial prospecting was carried out with this data, interpretation of the data is pending.

Renforth has completed a private placement with the issuance of 100,000 common share units, each unit priced at $0.05 and consisting of one common share and one warrant to acquire an additional common share at a price of $0.07 for a period of 24 months, and 4,236,372 flow through share units, each unit priced at $0.055 and consisting of one share issued on a “flow-through” basis and one warrant to acquire an additional common share at a price of $0.075 for a period of 24 months, for a total raised in this closing of $238,000. A commission totaling $14,000 in cash and a total of 254,545 broker warrants was paid pursuant to this closing. The use of these funds is a drilling program on the Discovery Vein gold mineralization at New Alger. Currently the resource geologist and the exploration geologist team are working together to develop a program which will include infill drilling within the stripped area and step out drilling to the west, within the surface sampled but undrilled strike of the Discovery Vein system. Drilling is expected to commence in late July, once scheduled blasting of certain areas of the Discovery Veins surface mineralization is complete.

Brian H. Newton P.Geo is a “qualified person” pursuant to the guidelines within NI 43-101 and has reviewed and approved the technical disclosure within this press release.

For further information please contact:

Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:416-818-1393
E: nicole@renforthresources.com
#269 – 1099 Kingston Road, Pickering ON L1V 1B5

ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based gold exploration company with five wholly owned surface gold bearing properties, 2 of those with open pit, and outside of pit, constrained gold resources in place, located in the Provinces of Quebec and Ontario, Canada.

In Quebec Renforth holds the New Alger and Parbec Gold Resource Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. Both properties have NI 43-101 open pit constrained, and out of pit, gold resources calculated. In both instances additional gold bearing structures, other than the Cadillac Break, have been found on each property and require additional exploration. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery. In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.

In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.

No securities regulatory authority has approved or disapproved of the contents of this news release.

Forward Looking Statements

This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.

SOURCE: Renforth Resources Inc.

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Chris Perry on Tocvan Ventures

We always enjoy Chris “Equity Guru” Perry’s writing on junior resource companies. Chris is a skeptic with a long track record in the junior space. He turned his attention to Tocvan Ventures which is exploring a gold/silver property in Mexico.

“Tocvan Resources (TOC.C) announced substantial results Wednesday on the data from their property scale soil sampling survey at the Mexico-based Pilar gold-silver project, with returns of 8 g/t gold and 317 g/t silver among the highlights.

The tiny gold explorer is in the early stages of proving out its property but, in doing so, also announced it has discovered a new gold and silver mineralization on its eastern zone, causing excitement among insiders.

With only 17 million shares outstanding, and with a market cap barely over a million dollars, any positive news will likely bring the potential of high market upside, so sampling results that open the play up are definitely worth cheering about.” Chris Perry, Stockhouse

You can read the whole, very informative, article here.

I am looking forward to interviewing Tocvan’s President, Derek Wood, in the next few days.

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Tocvan Announces Results from Property Scale Soil Survey, Includes Highest Soil Results to Date with 8 g/t Gold & 317 g/t Silver New East Zone Discovery, at the Pilar Gold-Silver Project in Sonora, Mexico

Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce results from the soil sampling survey at the Pilar Gold-Silver Project in Sonora, Mexico.

The highest assay results have been returned for gold and silver on the Pilar property in separate soil assays; 8 g/t Au & 317 g/t Ag. Also, a new zone of gold and silver mineralization containing areas of high grade gold and high grade silver has been revealed and is termed the “East Zone”, see figure 1.

Soil samples were systematically collected across the property as one of several survey tools to define mineralization trends associated with geological structures. To further help define mineralization trends previous results were also included and are shown below. Combined, these results have highlighted gold-silver areas and gold-silver trends across the Pilar property from north to south to narrow the focus for drilling.

Historically, the focus for development on the Pilar property has been in the north-west part of the property in the Main Zone and North Hill Zone. These zones along with the 4-Trench Zone have received over 17,700m of drilling. The Pilar property is a low-sulphide epithermal system, structure is key in mineralization deposition. In order to know where the mineralization is located, the structures need to be known and understood. In the efforts to define the structures controlling mineralization in the Main, North Hill, and 4-Trench zones, discoveries have been made elsewhere on the property, and those discoveries collectively have revealed a new zone of gold-silver mineralization, the East Zone (Figure 1).

Figure 1 characterizes the gold-silver assay results from the soil survey conducted this past March into April across the Pilar property. Also shown on figure 1 are gold-silver assay results from rock-grabs collected on the property this past November and previously reported January 7, 2020, they are included and shown here to provide a holistic view. Those rock-grabs were collected in response to testing high grade gold-silver soil assay results reported by Colibri Resource Corp. in 2018 and therefore show the effectiveness of assaying soil samples.

Taken collectively, the gold-silver assay results have revealed trends and zones of mineralization as depicted in figure 1 and the following figures. In figure 1 the gold-assay soil return is represented by 

and the silver-assay-soil return is represented by

. Gold and silver assay results collected as rock-grabs this past November and reported January 7, 2020 are represented by

.

The new East Zone (Figure 1) is represented by high grade gold and high grade silver assay results from rock grabs and soil sampling, and is a new trend of mineralization parallel to the NW-SE trend of mineralization of the Main Zone and North Hill Zone (see the bottom of this press release for summary drill results of the Main and North Hill zones). This trend/zone first started to reveal itself after a rock sampling survey conducted this past November. Some significant results include over 5 g/t gold and over 9 g/t gold (Figure 1), but also notably 323 g/t silver, 317 g/t silver, 127 g/t silver, and at the south-east corner of the property 84 and 76 g/t silver (Figure 1). This area roughly covers 600m x 200m and trends in the same direction as the Main Zone (which has been drilled to a depth of ~100m) and with NW-SE trending structures. Historically, previous operators have focused on developing gold on the Pilar property, clearly silver should be included as a part of that focus as well, and will be.


Click Image To View Full Size

Figure 1. Results from the 2020 Soil Survey at Pilar Au-Ag Project

Figures 2 and 3 below are mathematically smoothed soil gold-silver assay data to better reveal trends of mineralization and hence structural trends. The property is known to have cross-cutting NW-SE trending structures and NE-SW trending structures, an excellent combination of structures for mineralized fluid deposition. Directional trends have tentatively been interpreted and are depicted by yellow arrows on both figures. The figures below show trends of mineralization (structure) in under explored areas, and so, provide additional growth opportunities to locate more gold and silver. Mineralization is structurally controlled, knowing the locations, directions and especially the intersections of the structures will help to narrow the focus for locating drill targets.

The soil samples were analyzed by ALS Limited for gold and silver via Au-AA23 package (fire assay and atomic absorption) and Ag-AA45(aqua regia digestion and atomic absorption).

Next Steps for Pilar

Moving forward, scheduled work to be done, and included with these and previous results, are structural analyses with associated survey tools by structural geologists, and XRF survey of samples across the property and of historic drill hole samples held in storage. XRF identifies elements and their amounts which in turn help to identify pathfinder elements. All these surveys and analyses will be taken collectively in order to locate the structures and hence mineralization to provide targets for the drill program; currently anticipated in late summer/early fall of this year.


Click Image To View Full Size

Figure 2. Silver in Soil Results.


Click Image To View Full Size

Figure 3. Gold in Soil Results.

Special Note:

The current world health situation requires adjustments to work programs, health and safety is considered first.

Current health advice is for families and groups to self-isolate and to use caution with suggested recommendations from health leaders when social-distancing becomes a challenge. Countries are beginning to allow businesses to operate again. Isolation is an inherent part of mineral development programs.

About the Pilar Property

The Pilar Gold-Silver property has been identified as a structurally controlled low-sulphidation epithermal project hosted in Andesite and Rhyolite rocks. Hydrothermal fluids carrying gold, silver and other minerals are transported through the pre-existing structures and deposit out of the fluids and become emplaced within the structures and surrounding host rock. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4 Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 17,700m of drilling have been completed to date. Significant results are highlighted below from previous operators:

– 17,700m of Core & RC drilling. Highlights include (all lengths are drilled thicknesses):

– 0.73g/t Au over 40m

    • – 0.75g/t Au over 61m

– 17.3g/t Au over 1.5m

– 5.27g/t Au over 3m

– 53.47g/t Au & 53.4g/t Ag over 16m

– 9.64g/t Au over 13m

– 10.6g/t Au & 37.8g/t Ag over 9m

– 2,650m of surface and trench channel sampling. Highlights include:

– 55g/t Au over 3m

– 28.6g/t Au over 6m

– 3.39 g/t Au over 50m

– Soil sampling results from undrilled areas indicating mineralization extends towards the southeast from the Main Zone, North Hill Zone, and 4-Trench Zone

Additional areas of mineralization have been identified resulting from surface rock-grab-sample assay results that extend known mineralized trends and show a second NW-SE trend of mineralization to the east parallel to the trending zone described above; gold-silver mineralization is indicated across the property from the north to the south, see press release dated January 7, 2020. Significant results from that particular survey are highlighted below:

Sample #Au g/tAg g/tCu %Pb %
PILAR-MTS-020.914.30.2610.003
PILAR-MTS-031.35.40.3380.002
PILAR-MTS-050.812.70.1290.002
PILAR-MTS-063.28.30.3500.001
PILAR-MTS-090.22.21.2550.005
PILAR-MTS-100.917.20.7340.010
PILAR-MTS-113.857.40.8460.005
PILAR-MTS-120.05.61.9100.001
PILAR-MTS-130.012.90.9460.001
PILAR-MTS-140.13.31.4000.001
PILAR-MTS-190.81.70.0130.008
PILAR-MTS-205.684.20.0881.710
PILAR-MTS-210.720.30.0270.185
PILAR-MTS-229.376.40.1202.150
PILAR-MTS-250.5323.00.0160.242
PILAR-MTS-261.42.40.0020.013
PILAR-MTS-272.214.70.0120.259
PILAR-MTS-294.3172.00.0861.125
PILAR-MTS-3023.7116.00.0890.040
PILAR-MTS-334.444.50.1090.036
PILAR-MTS-347.541.90.0440.022
PILAR-MTS-352.23.50.1790.008

The technical information in this news release pertaining to geological data and its interpretation has been prepared by Mark T. Smethurst, P.Geo., COO, Director of the Company, and a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration mining company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan Ventures Currently has approximately 17.7 million shares outstanding and is earning into two exiting opportunities. The Pilar Gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia, Management feels both projects represent tremendous opportunity.

Cautionary Statement Regarding Forward Looking Statements

This news release contains “forward-looking information” which may include, 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. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative 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.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

FOR FURTHER INFORMATION, PLEASE CONTACT:

TOCVAN VENTURES CORP.

Derek A. Wood, President and CEO

Suite 1150 Iveagh House,

707 – 7th Avenue SW

Calgary, Alberta T2P 3H6

Telephone: (403) 200-3569

Email: dwood@tocvan.ca

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

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Renforth Files Open Pit Constrained and Out of Pit Technical Reports for New Alger and Parbec Gold Deposits

Renforth Resources Inc. (CSE:RFR)(OTC Pink:RFHRF)(WKN:A2H9TN) (“Renforth” or the “Company”) is pleased to announce that the Technical Reports titled “Updated Mineral Resource Estimate and Technical Report on the New Alger Gold Property, Abitibi-Témiscamingue Region, Northwestern Québec, Canada” and “Updated Mineral Resource Estimate and Technical Report on the Parbec Gold Property, Malartic Township, Abitibi-Témiscamingue Region, Northwestern Québec, Canada”, both signed June 23, 2020, with an effective date of May 1, 2020, have been filed under Renforth’s SEDAR profile.

Each of these technical reports presents updated, pit-constrained and out of pit, gold resources for each property as follows;

New Alger Mineral Resource Estimate May 2020

New Alger Mineral Resource Estimate (1-6)

Area

Classification

Cut-off Au
(g/t)

Tonnes
(k)

Au
(g/t)

Au
(koz)

Pit Constrained

Indicated

0.32

1,016

1.88

61.5

Inferred

0.32

2,322

1.65

123.3

Out-of-Pit

Indicated

1.44

19

1.81

1.1

Inferred

1.44

904

2.23

64.7

Total

Indicated

0.32 + 1.44

1,035

1.88

62.6

Inferred

0.32 + 1.44

3,226

1.81

188.0

*Please find the combined footnotes and cautions to the New Alger and Parbec Mineral Resource Estimates following the Parbec Mineral Resource Estimate

Parbec Mineral Resource Estimate May 2020

Parbec Mineral Resource Estimate (1-6)

Area

Classification

Cut-off Au
(g/t)

Tonnes
(k)

Au
(g/t)

Au
(koz)

Pit Constrained

Indicated

0.32

1,782

1.77

101.4

Inferred

0.32

1,997

1.56

100.3

Out-of-Pit

Indicated

1.44

40

2.38

3.1

Inferred

1.44

1,125

2.13

77.0

Total

Indicated

0.32 + 1.44

1,822

1.78

104.5

Inferred

0.32 + 1.44

3,122

1.77

177.3

1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

3) The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

4) Historically mined areas were depleted from the Mineral Resource model.

5.) The pit constrained Au cut-off grade of 0.32 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$17/t process cost and C$2/t G&A cost. The constraining pit optimization parameters were C$2.50/t mineralized mining cost, $2/t waste mining cost, $1.50/t overburden mining cost and 50 degree pit slopes.

6.) The out of pit Au cut-off grade of 1.44 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$66/t mining cost, C$17/t process cost and C$2/t G&A cost. The out of pit Mineral Resource grade blocks were quantified above the 1.44 g/t Au cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Additionally, only groups of blocks that exhibited continuity and reasonable potential stope geometry were included. All orphaned blocks and narrow strings of blocks were excluded. The longhole stoping with backfill method was assumed for the out of pit Mineral Resource Estimate calculation.

The filing of these Technical Reports remedies the default noted on September 19, 2019

Technical information in this press release was reviewed and approved by Eugene Puritch P.Eng, FEC, CET, President of P&E Mining Consultants Inc. and an independent “Qualified Person” pursuant to the requirements specified in NI 43-101.

For further information please contact:

Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:416-818-1393
E: nicole@renforthresources.com
#269 – 1099 Kingston Road, Pickering ON L1V 1B5

ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based gold exploration company with five wholly owned surface gold bearing properties located in the Provinces of Quebec and Ontario, Canada.

In Quebec Renforth holds the New Alger and Parbec Gold Resource Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. In both instances additional gold bearing structures, other than the Cadillac Break, have been found on each property and require additional exploration. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery. In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.

In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.

No securities regulatory authority has approved or disapproved of the contents of this news release.

Forward Looking Statements

This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.

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Aben Commences 2020 Field Program at Forrest Kerr Gold Project

Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) is pleased to provide an update on the planned commencement of its 2020 field program at the Forrest Kerr Gold Project located in the Golden Triangle region of NW British Columbia.  The field team will arrive to the Project in early July to begin the work program.  This program will consist of mapping, prospecting, and soil and rock sampling to better define existing targets and generate new targets for a potential drill program later in the season.

Highlights for 2020 Field Work include:

  • Correlate and ground-truth downhole data, surface observations and geophysical signatures in the area between the mineralized corridor at South Boundary and high-grade gold mineralization at North Boundary. Drill intercepts from this area include: 1.2 g/t gold over 122.0m (FK17-05), with the best intercept returning 38.7 g/t gold over 10.0m (FK18-10).

  • Geological mapping and prospecting toward the north in the Boundary Valley between the high-grade North Boundary Zone and the Marcasite Gossan, which was last drill-tested prior to 2005.
  • Soil sampling and prospecting in the area immediately south of the South Boundary drill locations.

Proposed Exploration and Drill Targets

Forrest Kerr Project:

The Forrest Kerr Property consists of 4 separate claim blocks comprised of 56 mineral claims (23,397 ha) and is owned 100% by Aben Resources. Numerous areas of interest have been identified since Aben began systematic exploration in 2016, with a total of 70 drill holes (21,968m/72,055’) completed. The Boundary Valley hosts significant surface gold mineralization and complex structural intersections, both of which are important indicators of the potential for discovery of more sub-surface high-grade gold mineralization. The initial exploration focus will be between the North and South Boundary zones, in a transitional area where the Benchlands Fault (South) coalesces with the Nelson Creek Fault Zone (North).

Historically, minimal exploration has been conducted in the 3.5km-long Boundary-Marcasite corridor to the north of the North Boundary High-grade Zone despite the presence of high-grade precious metal values on surface. And to the south, very limited surface work has been conducted south of the South Boundary mineralized corridor, although discovery potential is high as this area overlies the regional-scale Forrest Kerr Fault Zone and other associated structures.

Forrest Kerr Tenure Map

Aben Resources would also like to announce that the 2020 Communications Agreement between Aben and the Tahltan Central Government has been signed. Aben looks forward to a continuance of a positive, mutually beneficial working relationship. The Company would also like to state that it has changed the exploration plans for the 2020 season to accommodate concerns about the Coronavirus.  We will be starting the season with a smaller crew to do field work first. When their program is complete and successful, we will follow up after with a drill program, that is contingent on favorable exploration results, thereby keeping the camp population to a minimum.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $1.0 million in the Company’s treasury.

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com

ABEN RESOURCES LTD.

“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO

For further information contact myself or:
Simon Dyakowski
Aben Resources Ltd.
Strategic Advisor
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com

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

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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Millennial Lithium Corp. Receives Government Approval for Its Environmental Impact Assessment for Construction and Operations for Its Pastos Grandes Project, Salta, Argentina

Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) (“Millennial” or the “Company”) is pleased to report that its wholly owned subsidiary, Proyecto Pastos Grandes S.A. (“PPGSA”), has received a Declaracion de Impacto Ambiental (the “DIA”) from the Environmental and Mining Authority in Salta Province, Argentina. The DIA represents the Environmental and Mining Authority’s approval of PPGSA’s Environmental Impact Assessment (the “EIA”) for Construction and Operation of a 24,000 tonne per year battery grade lithium carbonate production facility at its flagship Pastos Grandes lithium carbonate project. The DIA is the main environmental approval document required for mining projects in Salta Province to both proceed to the construction stage and to operate. The Pastos Grandes Project is currently the only active pre-construction phase project in the region with this key milestone permit.

Farhad Abasov, President and CEO commented “Millennial is pleased to have received the approval for the EIA for construction and operation for our flagship Pastos Grandes Project in Salta, Argentina. This approval is an important step in securing full support from the provincial and federal governments in our path forward to bring the Pastos Grandes Project into production. The rapid approval by the Salta government reflects both the detailed and comprehensive nature of the EIA and the commitment of the government to continue supporting viable mining projects. We are pleased to have secured this approval which makes Pastos Grandes one of the most advanced lithium projects in the world. With a strong cash position we look forward to continuing to develop the Pastos Grandes Project.”

The EIA, presented to the Salta Environmental and Mining Authority in June 2019, was prepared by Ausenco-Vector (Ausenco). Ausenco has extensive experience in the preparation of EIAs for the mining industry in compliance with Argentine Federal and Provincial regulations. All development work on the Company’s Pastos Grandes Project is being completed in accordance with Argentine National Law No. 24.585 (Environmental Protection for Mining Activity). The EIA is based on the potential production scenario of brine extraction via pumping wells, solar pond evaporation and production of up to 25,000 tonnes per year of battery grade lithium carbonate from a centralized processing facility.

The issuance of the DIA approval confirms that the EIA is in compliance with the norms and regulations under the national and provincial mining law, and contains standard requirements to maintain the DIA approval in good standing. Most significantly, there is no adjustment to the 3% Net Smelter Return royalty (known as a “Boca de Mina”) payable to the Province, as defined in the National Mining law and as specified in the fiscal stability certificate for Provincial liabilities which specifies the government royalties that are payable on any future production from the Pastos Grandes Project.

The requirements in the DIA are divided into immediate obligations, required periodic reports, safety and environmental protection measures, operational obligations, community and social obligations and general prohibitions, including typical restrictions against hunting, setting fires and normal environmental and social non-disturbance measures.

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. The Company’s current plans, expectations and intentions with respect to development of its business and of the Pastos Grandes Project may be impacted by economic uncertainties arising out of Covid- 19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Pastos Grandes Project. 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.

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GR Silver Mining Reports High-Grade Silver-Gold Drill Results at Plomosas

GR Silver Mining Ltd. (TSXV: GRSL), (FRANKFURT: GPE), (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to announce drill results at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico. These results are located in the Plomosas Mine Area, one of six priority areas with a combination of recent (2016 to 2018) and historical drill data being released by the Company.

These drill hole results show high-grade silver and gold mineralized zones outside of the previously mined polymetallic (Pb-Zn-Ag-Au) mineralization in the Plomosas Mine Area. The Au-Ag enriched veins and breccias occur in vertical and shallow-dipping fault zones on the footwall and hanging wall of the existing polymetallic mineralized zone, revealing potential extensions for a future resource estimation. The results also confirm the continuity of the polymetallic mineralized zone down dip and along strike outside the previously mined areas. The drill section discussed in this news release is a step-out section, 400 m north (Figure 1) of drill holes reported in the previous news release (see News Release dated May 13, 2020).

GR Silver Mining President and CEO, Marcio Fonseca, commented“We continue to systematically review the extensive un-released historical and recent drill hole database at the Plomosas Silver Project. The review confirms the presence of high-grade Au-Ag zones, which were not previously explored and evaluated by previous owners, nor integrated into a resource estimation. Most of the new mineralized veins are accessible through existing underground development, which facilitates planning of additional underground drilling and provides opportunities for new discoveries. The company has reviewed 51 drill holes at the Plomosas Mine Area to date and 256 drill holes remain to be validated. The validated drill holes are already integrated into a 3D database allowing interpretation of a wide footprint of high-grade multiple veins and hydrothermal breccias. 

Our ongoing investigations along the 8,000 m of underground tunnels at the Plomosas Mine Area, including geological/structural mapping and sampling, continue to reveal new mineralized zones. These new zones demonstrate that mineralization is not only hosted within a single high-grade structure but within multiple cross-cutting shallow and vertical structures. The Company has also encountered evidence of multiple mineralization styles (massive sulphide Pb-Zn lenses, brecciated and stockwork polymetallic mineralized systems and strong gold-silver rich quartz veined mineralized zones) during recent underground investigations, which are currently being integrated into the Plomosas Mine Area 3D model.

Table 1 summarizes the most significant drill assay results for this third group of holes released for the Plomosas Mine Area.

Table 1: Summary Drill Hole Results – News Release June 22, 2020 (Plomosas Mine Area)

Hole No.

Type

From (m)

To (m)

Drilled
width (m)

Est. true
width (m)

Ag g/t

Au g/t

Pb %

Zn %

AgEq g/t

218

Surf.

5.9

21.8

15.9

14.6

46

1.0

1.7

2.2

269

includes

5.9

9.7

3.8

3.5

183

4.3

6.4

7.9

1,057

233

Surf.

176.9

178.4

1.5

1.4

77

4.6

0.07

1.0

580

236

Surf.

79.8

85.8

6.0

5.4

326

1.9

0.7

1.2

573

includes

79.8

81.9

2.1

1.9

900

2.9

1.9

3.2

1,349

242

Surf.

64.5

67.8

3.3

2.1

349

0.4

2.3

1.3

502

246

Surf.

39.7

40.6

0.9

0.9

182

0.2

0.5

1.0

235

250

Surf.

123.9

136.2

12.3

6.2

23

1.9

0.3

1.5

267

253

Surf.

112.2

123.2

11.0

7.5

1,235

0.2

0.8

1.9

1,335

includes

113.9

116.2

2.3

1.2

2,600

0.1

1.4

3.6

2,755

includes

119.3

121.0

1.7

0.9

4,209

0.5

1.8

5.6

4,475

130.0

145.0

15.0

7.5

9

1.1

0.4

1.2

includes

137.6

139.4

1.8

1.8

45

0.5

1.0

1.4

164

162.8

165.6

2.8

1.4

10

2.2

0.1

0.3

258

Surf.

166.8

170.5

3.7

2.7

1,469

0.5

2.2

3.2

1,680

includes

166.8

168.6

1.8

1.3

2,827

0.5

2.8

4.6

3,098

170.5

194.4

23.9

17.4

4

3.6

0.01

0.1

includes

170.5

171.5

1.0

0.7

17

43.0

0.03

0.07

259

Surf.

205.7

213.5

7.8

5.2

11

2.6

0.1

0.1

232.0

235.4

3.4

2.2

398

0.01

0.3

0.7

427

236.5

271.8

35.3

22.7

6

1.0

0.1

0.2

275.3

275.9

0.6

0.4

1,285

0.5

0.8

1.6

1,410

265

Surf.

249.2

258.5

9.4

6.6

13

0.4

0.02

0.04

269

Surf.

209.2

210.4

1.2

0.8

6

4.0

0.01

0.2

270

Surf.

24.5

25.5

1.0

0.8

4

2.2

0.02

0.2

204.2

204.4

0.2

0.1

50

0.1

16.8

10.0

909

208.9

209.5

0.6

0.5

68

0.2

2.8

13.5

554

232.0

239.6

7.6

6.2

105

0.6

1.1

2.0

257

274

Surf.

244.4

284.4

40.0

32.8

32

0.9

0.8

0.8

177

includes

267.2

270.9

3.7

3.0

57

6.1

3.9

2.0

869

218-A

Surf.

4.0

14.0

10.0

9.8

28

0.7

4.2

0.9

272

PLI17-28

UG

66.4

81.4

15.0

13.0

13

2.8

0.5

1.4

351

includes

73.9

77.0

3.1

2.7

41

10.4

0.9

3.8

1,244

83.7

89.7

6.0

5.2

5

1.9

0.1

0.1

PLI17-31

UG

55.2

68.8

13.6

11.7

8

1.7

0.4

0.7

includes

63.1

64.7

1.6

1.4

19

10.5

0.5

0.7

1,133

PLI17-37

UG

62.9

71.9

9.0

7.9

29

0.1

0.6

1.4

158

PLI17-39

UG

50.7

59.4

8.7

8.7

39

0.4

1.2

1.4

159

94.4

95.9

1.5

1.5

53

1.0

0.01

0.02

159

PLSS18-01

Surf.

358.1

363.2

5.1

5.1

16

0.1

1.6

2.0

142

*AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc and US$0.95 per pound lead. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb and 70% Zn. “na” = no relevant assays. All numbers are rounded. Results are uncut and undiluted. Surf. (Surface Core Drill Hole), UG (Underground Core Drill Hole).

The existing drill holes for the Plomosas Project were generated by drill campaigns completed by First Majestic Silver Corp. (“First Majestic”) between 2016-2018 and Grupo Mexico between 1982-2000. They both form an extensive surface and underground core drilling database which GR Silver Mining is consolidating and validating.

The primary objective of Grupo Mexico was the discovery of Pb and Zn mineralization as potential feed for their historical flotation plant operations nearby. First Majestic drilled the Plomosas Mine Area targeting new mineralized zones down dip and along strike from the surface and underground sites. GR Silver’s QA/QC protocol dictates that wherever assay intervals are identified as missing within the drill hole database, the relevant drill holes will be re-examined, sampled, and assayed using the remaining core to complete the sequence of results.

Table 2 summarizes the historical drill hole intervals previously not sampled (“NS”) for this third group of holes released for the Plomosas Mine Area.

Table 2: Plomosas Mine Area Drill Holes – Historical Drill Hole Intervals Not Sampled (Intervals greater than 20m)

Hole No.

From-To (m)

Sampling

Hole No.

From-To (m)

Sampling

236

0-41.7

NS

269

0-81.8

NS

242

0-44.0

NS

269

84.3-114.2

NS

246

0-36.0

NS

269

122.35-147.6

NS

250

0-75.1

NS

270

0-24.5

NS

253

0-65.7

NS

270

25.5-53.5

NS

258

0-113.0

NS

270

54.5-204.2

NS

259

0-105.3

NS

274

0-106.4

NS

259

153.8-191.5

NS

274

118.1-150.0

NS

218-A

30.35-53.3

NS

274

154.3-230.3

NS

PLI17-28

0-65.5

NS

PLI17-31

114.75-136.9

NS

PLI17-28

104.45-155

NS

PLI17-37

0-63.0

NS

PLI17-30

0-44.1

NS

PLI17-37

102.6-126.4

NS

PLI17-30

78.2-111.7

NS

PLI17-39

0-40.5

NS

PLI17-30

124.75-150.3

NS

PLI17-39

63.45-93.2

NS

PLI17-31

0-42.9

NS

PLSS18-01

0-310.0

NS

265

0-96.1

NS

    PLSS18-01

312.6-349.2

NS

All numbers are rounded. NS – Core not assayed by First Majestic and Grupo Mexico

The company is currently re-logging and sampling potentially mineralized zones in the existing (non-sampled) core available on site, aiming to integrate the results into the current drilling database.

The preliminary review and integration of all data has indicated the presence of two significant mineralized structures.

The first contains higher lead, zinc and silver concentrations with strike N10E-NS and dip 40⁰, mostly sub-parallel to the main shallow Plomosas Fault (Figure 2). Massive sulphide silver-rich lenses (sphalerite, galena and minor chalcopyrite) are common occurrences in this mineralized structure (Link to Photos). The mineralization style is hosted preferentially in pyroclastic flows, volcanic breccias and fractured rocks, and it preferentially favours andesite breccias. It appears to form a series of bodies 50 – 80 m long by 40 – 60 m wide and varied thickness, due to pinch-swell geometry visible in the underground workings.

The second type of mineralized structures show banded and drusy quartz, strong silicification, networks of quartz veinlets and quartz breccias, containing significant gold and silver values and low lead and zinc content. They are represented by two systems with a general orientation N40E and N40W and variable dip angles, from 50⁰ to 70⁰.

The Company continues to validate all core assay results in the extensive Plomosas drill hole database, with the objective to fully integrate them into the 3D Model. Other ongoing site activities include underground mapping and sampling of the Plomosas Mine Area, drill core sampling and assaying, and initial bulk sampling of selected underground areas for future metallurgical testwork.

Additionally, the Company is advancing discussions with drill contractors to initiate a drilling program on the existing zones and drill targets in the near future.

Table 3: Drill Hole Locations – Plomosas Mine Area (News Release 22/6/2020)

Hole No.

East (m)

North (m)

RL (m)

Az.

Dip

Depth (m)

218

451586

2552252

932

0

-90

93

233

451494

2552246

952

0

-90

207

236

451443

2552242

960

0

-90

233

242

451503

2552208

955

308

-60

133

246

451491

2552208

952

128

-70

151

250

451459

2552121

958

310

-50

200

253

451485

2552184

952

315

-45

194

258

451404

2552189

1000

308

-75

219

259

451404

2552189

1000

308

-60

280

265

451430

2552178

977

308

-73

259

269

451344

2552172

1030

0

-90

244

270

451344

2552172

1030

308

-80

285

274

451344

2552172

1030

308

-72

285

218-A

451586

2552252

932

68

-50

76

PLI17-28

451180

2552226

798

76

-35

155

PLI17-31

451179

2552227

798

60

-40

137

PLI17-37

451180

2552224

798

120

-35

141

PLI17-39

451180

2552224

798

105

-65

121

PLSS18-01

451201

2552308

1134

123

-53

407

All numbers are rounded.

Qualified Person

The scientific and technical data contained in this News Release related to the Plomosas Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo. He has approved the disclosure herein.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The recent drill holes completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed by an independent laboratory at SGS de México, S.A. de C.V. facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples above Au >10ppm and Ag >300ppm and Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry.

GR Silver Mining has reviewed information related to the historic Grupo Mexico drill holes and believes the results are of sufficient quality and suitable for disclosure. GR Silver Mining has not verified the results. The following drill holes were drilled by Grupo Mexico, 218, 233, 236, 242, 246, 250, 253, 258, 259, 265, 269, 270, 274 and 218-A.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the San Marcial Silver Project in the southeast of Sinaloa State, Mexico. The Plomosas Project comprises six areas with an average of 100 surface and underground drill holes in each area, geophysical and geochemical data covering most of the concession, and the delineation of 16 exploration/drilling targets.

The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30m of previous capital investments. The previous owners invested approximately US$18 million in exploration.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas Mine, San JuanLa ColoradaYecoraSan Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver Mining is currently drilling at the San Marcial Project, which contains 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred), exploring recently defined new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining 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.

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.

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SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com,

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FSD Pharma Reports Favorable Topline Results from Phase 1 First-in-Human Safety and Tolerability Study of Ultramicronized PEA

FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) (“FSD Pharma” or the “Company”) today announced favorable topline results from its Phase 1 randomized, double-blind, placebo-controlled study of ultramicronized palmitoylethanolamide (PEA), or FSD201. This single-site study was conducted at the Alfred Hospital, part of the Alfred Health group of hospitals serving the state of Victoria in Australia and enrolled 48 healthy adult men and women.

“Our immediate plans for FSD201 include submitting these Phase 1 trial results for publication in a peer-reviewed journal and advancing this compound into a Phase 2a proof-of-concept trial for the treatment of COVID-19”

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The trial sequentially tested single ascending doses ranging from 600 mg to 2400 mg tablets and multiple ascending doses ranging from 600 mg to 1200 mg tablets administered twice daily for 7 consecutive days. The single ascending dose subjects also were tested for food effect.

The study found ultramicronized PEA to be safe and well tolerated. Mild and self-limiting side effects were reported and were deemed unlikely to be related to study drug. There were no abnormal laboratory findings or ECGs observed during the study and no serious adverse events were reported. No subjects withdrew due to an adverse event and all eligible subjects completed all doses. The pharmacokinetic profile of FSD201 in this study is still being analyzed.

The study was led by principal researcher Jason Lickliter, MD, Chief Medical Officer of Nucleus Network, Australia.

“We are delighted to be reporting favorable topline findings from our Phase 1 first-in-human safety and tolerability study with FSD201. I congratulate our pharmaceutical team, led by Dr. Edward Brennan. This study has also successfully validated the considerable scientific literature published over the years in Europe that claims safety and tolerability of micro-PEA,” said Raza Bokhari, MD, Executive Co-Chairman & CEO.

“Our immediate plans for FSD201 include submitting these Phase 1 trial results for publication in a peer-reviewed journal and advancing this compound into a Phase 2a proof-of-concept trial for the treatment of COVID-19,” continued Dr. Bokhari. “The U.S. Food and Drug Administration recently gave the Company permission to submit an Investigational New Drug application for the use of FSD201 to treat COVID-19. We contacted the FDA after becoming aware that Italian physicians and scientists were advocating for use of ultramicronized PEA for patients suffering from symptoms of COVID-19, based on the drug’s mechanism of action as a potent and safe anti-inflammatory agent that reduces the production of pro-inflammatory cytokines and may help mitigate a cytokine storm.”

The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.

About FSD Pharma

FSD Pharma, Inc. (Nasdaq: HUGE; CSE: HUGE.CN; FRA: 0K9A) is a publicly traded holding company, since May 2018.

FSD Pharma BioSciences, Inc., a wholly-owned subsidiary, is a specialty biotech pharmaceutical R&D company focused on developing over time multiple applications of its lead compound FSD201, ultramicronized palmitoylethanolamide (PEA), by down-regulating the cytokines to effectuate an anti-inflammatory response.

The Company has successfully completed a Phase 1 first-in-human safety and tolerability study for FSD201 that found the compound to be safe with no serious adverse side effects. This study also validated considerable scientific literature published in Europe that claims safety and tolerability of micro-PEA. Ultra-micronized PEA has been dispensed in Italy and Spain as a prescription anti-inflammatory medical food supplement since 2004, with no serious adverse side effects reported.

On June 1, 2020, the Company received permission from the U.S. Food and Drug Administration (FDA) to submit an Investigational New Drug (“IND”) application for the use of FSD201 to treat COVID-19, the disease caused by the SARS-CoV-2 virus.

Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. The Company is focused on developing FSD201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.

FV Pharma, a wholly-owned subsidiary, is a licensed producer under Canada’s Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility in Cobourg, Ontario.

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this press release.

Certain statements contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws (collectively, “Forward-Looking Information”). Forward-Looking Information includes, but is not limited to, information with respect to FSD Pharma’s strategy, plans or future financial or operating performance, receipt of any U.S. Food and Drug Administration (“FDA”) approvals, the costs associated with such planned trials, our ability to obtain required funding and the terms and timing thereof, development of any FDA-approved synthetic compounds, and the successful treatment of diseases by such compounds. The use of words such as “budget”, “intend”, “anticipate”, “believe”, “expect”, “plan”, “forecast”, “future”, “target”, “project”, “capacity”, “could”, “should”, “focus”, “proposed”, “scheduled”, “outlook”, “potential”, “estimate” and other similar words, and similar expressions and statements relating to matters that are not historical facts, or statements that certain events or conditions “may” or “will” occur, are intended to identify Forward-Looking Information and are based on FSD Pharma’s current beliefs or assumptions as to the outcome and timing of such future events. Such beliefs or assumptions necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such Forward-Looking Information. Certain of these risks and uncertainties are described in the Company’s continuous disclosure filings available under the Company’s SEDAR profile at www.sedar.com. Forward-Looking Information is not a guarantee of performance. The Forward-Looking Information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any Forward-Looking Information, whether as a result of new information, future events or otherwise, except as required by law. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on Forward Looking-Information. The foregoing statements expressly qualify any Forward-Looking Information contained herein.

Contacts

For further information:
Sandy Huard, Head of Communications, FSD Pharma, Inc.
sandy@fsdpharma.com
(647) 864-7969

Zeeshan Saeed, President, FSD Pharma, Inc.
zeeshan@fsdpharma.com

Investor Relations
IR@fsdpharma.com
www.fsdpharma.com

or

LHA Investor Relations
Sanjay M. Hurry
shurry@lhai.com
(212) 838-3777

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Cartier at Chimo: A Mine Within a Mine

For the longest time, Cartier Resources (V.ECR) has been reporting high-grade gold from its Chimo Mine project. A couple of meters of +10 grams per ton (gpt) here and 16 gpt there. But it has never been the headline number for the Cartier press releases.

“The high grade has always been there,” said Philippe Cloutier, CEO of Cartier. “We reported it, but it was always in the second or third paragraph of the press release.”

The reality is that 75% of the value at the Chimo Mine is in the average grade material running between 4 and 5 grams per ton because there are a lot of tons of that material as disclosed in Cartier’s most recent 43-101 Resource Estimate update. However, in Cartier’s last two press releases, the company reported 4.0 meters of 20.8 gpt and 4.5 meters of 16.5 gpt material from drill holes 450 meters to the east of the existing underground workings. Critically, these high-grade intercepts are well below known gold zones on the property.

“We had the discovery hole back in July of last year,” said Cloutier. “What we decided to do was define a target which was the size of the original mine. We essentially copied the mine-sized target to drill the discovery area.”

“These recent press releases are amongst the first results of our drilling in that target area. For a while, the results were delayed as all the labs were closed because of COVID. They re-opened on May 11. These were the first results we got after the labs re-opened. We’re continuing to drill but the results will be delayed a couple of weeks because of the backlog in the labs,” said Cloutier. “But these first batch grades are quite impressive. And the rest of the samples are looking very good.”

With two drills deployed at Chimo, Cloutier is anticipating news right through the summer.

“The drill target looks very much like the old mine,” said Cloutier. “Right now the drill hole intersections that dot the target could end up adding up to 500,000 ounces. It’s a mine within a mine.”

While the high-grade intercepts are deep, the great strength of the Chimo project is that there is already a 920-meter shaft and an extensive network of drifts. This existing infrastructure changes the economics of mining the Chimo Mine deposit and the extensions of that deposit which Cartier is exploring.

“The current 43-101 does not include any of this new drilling,” said Cloutier. “Nor does it include any of our new engineering work. We are working on the engineering side so that we can lower the cut-off grade by a gram. We’re pretty sure we can and the results of those efforts could add another 500,000 ounces to the resource.”

As the current 43-101 has 585,190 ounces of gold in the indicated resource category and 597,800 ounces of gold in the inferred resource category adding a million ounces by exploration and engineering would take to project to the 2 million plus ounce category.

2 million ounces with existing infrastructure is a pretty attractive package for a mid or senior tier producer looking to replace reserves. “We know some technical teams out there like what they see,” said Cloutier. “Which is why we are doing the exploration and engineering. We don’t want to leave those ounces on the table.”

The effect of the new ounces to the East is to lengthen the mine’s projected life even though they would be unlikely to be mined immediately. Drilling those ounces adds value to the Chimo Mine project but it also alters a potential purchaser’s calculations of that value.

It is also a calculation which makes Chimo attractive for Cartier to operate itself. “If our share price rises and we don’t get the right offer, we could run the mine ourselves,” said Cloutier. Because Chimo was already an operating mine, it has fast track options. After all, if the numbers make sense for an acquirer, they would make even more sense for Cartier itself. Cloutier is not ruling out any of the options but he sticks to his maxim of “creating shareholder value” as Cartier’s first priority.

Drilling and engineering for new ounces in what looks to be a rising gold market has put Cartier in a nearly perfect position for the coming re-rating of junior gold explorers. When that re-rating happens is unknown but Cartier is trading less than $0.10 higher than it was when gold was hovering around $1300 a year ago.

If Cartier can come up with another million ounces, it is hard to believe it will trade at less than $0.30. If gold and the juniors rally, Cartier could easily hit a dollar as drilling results and the third 43-101 prove up the resource at Chimo Mine.

 

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GR Silver Mining Completes $9,153,000 Bought Deal Financing

GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to announce that it has completed its previously announced bought deal private placement (the “Offering“) of an aggregate of 33,900,000 units of the Company (the “Units“) at a price of $0.27 per Unit (the “Issue Price“) for gross proceeds of $9,153,000, which included the exercise of the underwriters’ option in full. Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $0.40 per share for a period of 12 months from the closing date of the Offering.

The Offering was led by Beacon Securities Limited as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Raymond James Ltd., Canaccord Genuity Corp., and Pollitt & Co. Inc. (collectively, the “Underwriters“).

The Company intends to use the net proceeds of the Offering to fund resource expansion and drilling at the Plomosas and San Marcial projects in Sinaloa, Mexico, and for working capital and general corporate purposes.

The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 (“MI 61-101“) as First Majestic Silver Corp. (TSX: FR, NYSE: AG), an existing major shareholder of the Company, subscribed for an aggregate of 4,000,000 Units. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by the insider does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

In connection with the Offering, the Underwriters received a cash commission totaling $636,660 and an aggregate of 2,358,000 non-transferable broker warrants (the “Broker Warrants“). Each Broker Warrant is exercisable into one common share of the Company at the Issue Price for a period of 12 months from the closing date of the Offering.

All securities issued under and in connection with the Offering are subject to a hold period in Canada expiring October 19, 2020.

GR Silver Mining President and CEO, Marcio Fonseca, commented: “With the closing of this oversubscribed bought deal financing, GR Silver Mining now has a solid cash position on its balance sheet, placing the Company in a strong position to continue drilling activities in the Plomosas and San Marcial Project. The Company now intends to bring additional drill rigs to the sites to continue drilling not only on the 6 areas with recent and historical drill holes but also in the multiple targets with evidence of epithermal veins inside both projects. The Company has been operating safely in the last 3 months carrying out surface and underground exploration activities at both projects, in accordance with Mexican authorities guidelines, with no impact of the COVID-19 at its operations in Mexico“.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the San Marcial Silver Project in the southeast of Sinaloa State, Mexico. The Plomosas Project comprises six areas with an average of 100 surface and underground drill holes in each area, geophysical and geochemical data covering most of the concession, and the delineation of 16 exploration/drilling targets.

The 100% owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30 million of previous capital investments. The previous owners invested approximately US$18 million in exploration.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas Mine, San JuanLa ColoradaYecoraSan Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver Mining is currently drilling at the San Marcial Project, which contains 36 Moz AgEq (Indicated) + 11 Moz AgEq (Inferred), exploring recently defined new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

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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.

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. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the use of proceeds of the Offering and the potential for resource expansion. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. 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. The forward-looking statements and information contained in this press release are made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking statements and information contained herein.

SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com

Related Links

http://www.grsilvermining.com/

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