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Renforth Update

Sure, you can read Renforth’s update press release.

But to get a real flavour of what Renforth (C.RFR) is doing along the Cadillac Break you need to read CEO Nicole Brewster’s wonderfully chatty newsletter to shareholders,

Parbec – again the beep mat, as the geological team got a better grip on capability they started doing some high level interp in real time and prospecting the targets….it worked insofar as it helped in extending the Diorite Splay mineralization. Ok let me back up – do you recall we figured out we had some of the diorites, which occur with the Cadillac Break at Parbec, bending away from the Break? They are in the sediments to the south – we do not yet know how they got there…but they are there. Are they fingers or are they lenses – no idea yet. It is important because anything in the sediments is unusual, especially when it is associated with gold, like our Diorite Splays are.”

Go read the whole thing!

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GR Silver Mining Reports High-Grade Drill Results and Extends the San Juan Ag-Au Mineralized System at the Plomosas Project to 1 km with a 600 m Step-Out


  • 1,723 gpt AgEq*1 over 2.7 m (15.1 gpt Au, 45 gpt Ag, 3.1% Pb and 0.9% Zn) including 5,055 gpt AgEq over 0.9 m (46.9 gpt Au, 76 gpt Ag, 3.3% Pb and 2.2% Zn)
  • 25.7 m at 1.0 gpt Au, 2% Pb and 1% Zn

VANCOUVER, BCJuly 7, 2020 /CNW/ – 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 San Juan-La Colorada Area, one of six priority areas with recent (2018) drill data being released by the Company.

These drill hole results identify silver and gold mineralized zones in a 600 m step out from the previously released drill hole results at San Juan (Figures 1 and 2) (see News Release dated May 4, 2020). They confirm continuity of the Au-Ag mineralized system for at least 1 km, supporting a geological model where both areas, La Colorada and San Juan, are part of a single significant epithermal system with occurrence of not only Ag-Pb-Zn mineralization hosted in polymetallic hydrothermal breccias, but also Au-Ag enriched veins in high angle fault zones.

The drilling intercepts confirm prospective, near-surface, multiple vein systems peripheral to other drilled areas. This creates the potential to delineate a much larger epithermal system for future drilling and resource estimation. To date, the Company has identified six veins in the San Juan-La Colorada Area as a result of previous drill results and surface and underground mapping/sampling. The Company believes that the Au-Ag bearing structures are part of regional scale fault systems, hosting attractive low sulphidation epithermal mineralization and thus providing the opportunity to move forward confidently with further shallow drilling.

GR Silver Mining President and CEO, Marcio Fonseca, commented“We are very pleased with the progress of our exploration program at Plomosas. We see significant strike length, down dip extensions and the presence of multiple veins, exhibiting the potential to define a large low sulphidation epithermal system covering most of the areas previously drilled. To date, we have been able to collect key geological and geometrical components for the silver-gold mineralized system at the San Juan-La Colorada Area, providing support for our upcoming drilling program. Results to date are indicating that both mineralization styles, Au-Ag epithermal veins and Ag-Pb-Zn hydrothermal breccias, are present, defining a large system with multi-kilometre strike potential“.

_____________________________

1

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.

Figure 1: San Juan-La Colorada Area Geology – Drill Hole Location Map

Figure 2: Drone Image of the San Juan–La Colorada Area (looking to the NW)

Table 1 summarizes the most significant drill assay results for this group of holes released for the San Juan-La Colorada Area.

Table 1: Summary Drill Hole Results – News Release July 7, 2020 (San Juan-La Colorada Area)

   Hole No.

From
(m)

To
(m)

Drilled
width
(m)

Est.
true
width
(m)

Ag g/t

Au g/t

  Pb %

Zn %

AgEq g/t

LCS18-01

203.3

203.6

0.4

0.4

14

0.1

3.3

5.2

LCS18-02

179.2

198.3

19.1

17.2

2

0.3

0.2

0.8

includes

190.5

192.2

1.7

1.5

8

2.1

0.8

4.1

LCS18-02

239.8

265.5

25.7

21.8

7

1.0

1.5

1.0

LCS18-03

206.7

209.3

2.7

2.4

45

15.1

3.1

0.9

1,723

includes

206.7

207.5

0.9

0.8

76

46.9

3.3

2.2

5,055

LCS18-04

250.9

288.6

37.8

34.0

5

0.3

0.8

1.0

includes 

276.0

287.6

11.6

10.4

7

0.7

1.6

2.3

368.9

370.0

1.2

1.0

182

0.3

0.1

0.2

224

LCS18-05

242.9

270.7

27.8

25.0

26

0.3

0.6

0.8

includes 

247.0

251.5

4.5

4.0

126

1.6

1.3

1.7

380

*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.

The drill holes in this news release were generated by a drill campaign completed by First Majestic Silver Corp. (“First Majestic”) in 2018 and not previously released. They are part of an extensive surface and underground diamond core drilling database, which GR Silver Mining is consolidating and validating.

Table 2 lists the drill hole intervals previously not sampled (“NS”) for this group of released holes. The Company is investigating these holes for evidence of mineralization in the core that warrants additional sampling and assaying.

Table 3 provides collar coordinates for the drill holes presented in this news release.

Table 2: San Juan-La Colorada Area – Drill Hole Intervals Not Sampled (Intervals greater than 20m)

Hole No.

From-To (m)

Sampling

Hole No.

From-To (m)

Sampling

LCS18-01

0-132.95

NS

LCS18-03

152.2-166.9

NS

LCS18-01

141.75-195.45

NS

LCS18-03

172.1-184.55

NS

LCS18-01

242-270.05

NS

LCS18-03

209.3-214

NS

LCS18-02

0-177.7

NS

LCS18-04

0-156.1

NS

LCS18-02

298.35-307.3

NS

LCS18-04

389.85-453.1

NS

LCS18-02

410.75-450.5

NS

LCS18-05

0-165.9

NS

LCS18-03

0-89.75

NS

LCS18-05

182.6-184

NS

LCS18-03

112-147

NS

LCS18-05

207.7-242.5

NS

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

Table 3: Drill Hole Locations – San Juan-La Colorada Area (News Release 7/7/2020)

Hole No.

East (m)

North (m)

RL (m)

Az.

Dip

Depth (m)

LCS18-01

447872

2551275

939

232

-47

270

LCS18-02

447922

2551141

922

250

-75

458

LCS18-03

447922

2551141

922

250

-50

214

LCS18-04

447961

2551067

899

250

-75

453

LCS18-05

447961

2551067

899

250

-54

280

All numbers are rounded.

The San Juan-La Colorada Area drill results continue to demonstrate the continuity of higher-grade mineralization along strike, expanding the footprint of the low sulphidation epithermal system for approximately 1km. The high grades encountered indicate both Au-Ag and Ag-Pb-Zn styles of mineralization in an area with multiple deep-rooted fault systems, creating a prospective setting for future discoveries (Photo 1).

Photo 1- High-grade Au Core Sample – Hydrothermal Breccia Drill Hole LCS18-03.

The low sulphidation epithermal Au-Ag system is hosted predominantly in high-angle faults, whereas the Ag-Pb-Zn mineralization is preferentially in shallow angle faults and polymetallic hydrothermal breccias (click here to view cross sections). Both mineralization styles have developed due to a combination of multiple deep-rooted fault structures in a multi-event system, where precious metals appear to be the younger mineralized phase. The deep-rooted regional structures transect and served as a fluid conduit for a large underlying hydrothermal system, cross cutting a volcanic sequence made of andesites, tuffs and rhyolites, where brittle fracturing in host rocks has created voids or traps for deposition of both styles of mineralization. The combination of these structures, together with favorable host rocks (permeability and porosity), have generated numerous alteration halos (argillic, propylitic, oxidation and silicification) (Figures 1 and 2). These altered areas are exploration guides for future drilling and expansion of the mineralization footprint.

The Company is implementing detailed core relogging and multi-element analysis by portable hand-held XRF (pXRF), particularly in non-sampled areas, prior to being submitted to the laboratory for detailed chemical analysis. Using pathfinder elements, the pXRF results enable data-driven determination of the mineralized and un-mineralized alteration mineral assemblages. The Company has successfully implemented a pXRF program at its nearby projects, where it has proven to be a cost- and time-effective first pass analytical method.

Previous owners completed aero- and ground geophysical surveys (magnetometry and IP) covering most of the deep-rooted regional faults. In general, for an IP survey, resistivity anomalies delineate the fault system and chargeability differentiates oxide vs. sulphide mineralization potential at depth. High resolution airborne magnetometry was undertaken by First Majestic in 2016, covering the Plomosas Project. This form of geophysical investigation is important in defining regional and local scale lithological variations, as well as potentially buried intrusive bodies that can be important heat and fluid sources in the genesis of epithermal mineralization in volcanic environments such as at Plomosas. Fluid flow derived from epithermal systems can result in the local destruction of magnetism, particularly along structural pathways, which can also be used as a targeting tool.

This geophysical ‘fingerprint’ of the mineralized system, together with the abundance of faults, has resulted in promising new prospective zones for oxide and sulphide mineralization types. GR Silver Mining continues to update the 3D geological model of exploration together with results from drill holes, bedrock mapping and soil and rock geochemistry and geophysics, generating data-driven, drill-ready targets supported by all four data sets.

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.

The Company has also negotiated debt settlement with arm’s length and non-arm’s length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX-V, the Company has settled aggregate debt of $207,728 outstanding as at June 30, 2020, in consideration for which it will issue an aggregate of 437,322 common shares at a deemed price of $0.475 per share.  Certain insiders of the Company participated in the debt settlements (Marcio Fonseca, the Company’s President, CEO and director, agreed to settle $7,500 debt for 15,790 shares; Blaine Bailey, the Company’s CFO, agreed to settle $7,500 debt for 15,790 shares; and Trevor Woolfe, the Company’s VP Corporate Development & Exploration, agreed to settle $15,000 debt for 31,579 shares).  Participation by Insiders in the debt settlements is also considered a “related party transaction” pursuant to MI 61-101.  The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insiders’ participation in the debt settlements in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the debt settlements by the Insiders did not exceed 25% of the fair market value of the Company’s market capitalization. All shares issued in relation to these debt settlements are subject to a hold period expiring four months + one day after the date the shares are issued, in accordance with applicable securities laws and the policies of the TSX-V.

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.

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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. 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.

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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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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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,

Related Links

http://www.grsilvermining.com/

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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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White Gold Corp. Announces Closing of Fully Subscribed C$6 Million Private Placement Led by Eric Sprott; Agnico Eagle and Kinross Maintain 17.1% Interest

Further to its news release dated May 15, 2020, White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce the closing of a non-brokered private placement of 6,666,667 common shares (the “FT Shares”) of the Company, issued on a flow-through basis at a price of C$0.90 per FT Share for gross proceeds to the Company of C$6,000,000 (the “Offering”). Participants include Eric Sprott, certain funds managed by Sprott Asset Management LP, and insiders Pat DiCapo and David D’Onofrio. Upon closing of the Offering, the Company will have net working capital of approximately C$9M.

Pursuant to the Investor Rights Agreement between the Company and Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“Agnico”) dated December 13, 2016, Agnico has maintained its 17.1% interest in the Company following the Offering. Additionally, pursuant to the Investor Rights Agreement between the Company and Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross”) dated June 14, 2017, Kinross has maintained its 17.1% interest in the Company following the Offering. In addition, certain other insiders of the Company (and together with Agnico and Kinross, the “Insiders”) acquired an aggregate of 611,112 FT Shares pursuant to the Offering.

“We are very grateful for the continued support of our major shareholders and excited to welcome Eric Sprott as a new shareholder. We look forward to kicking off our 2020 field season in the coming weeks where we will follow up on some of our exciting new discoveries and look to continue to increase our existing mineral resources,” stated David D’Onofrio, Chief Executive Officer.

2020 Exploration Program

The Company’s 2020 Exploration program is set to commence in the coming weeks. Further details are available in the Company’s news release dated May 20, 2020 and available on SEDAR, with additional details to be provided in due course.

2020 Exploration Program Highlights:

  • Ryan’s Surprise target: Diamond drill program to test for strike and down-dip extensions of mineralization encountered in 2019 diamond drilling. The Ryan’s Surprise target is located 2km along strike from the Company’s flagship Golden Saddle & Arc deposits which have a current mineral resource of 1,039,600 gold ounces indicated at 2.26 g/t Au and 508,700 gold ounces inferred at 1.48 g/t Au.
  • Titan target: Diamond drill program to test the extents of high-grade mineralization encountered in 2019 rotary air blast (RAB) drilling which included 72.81 g/t Au over 6.09 m from 10.67 m depth, within a 32 m zone of mineralization plus additional RC or RAB drilling to test similar north-trending magnetic high features within the magnetic low, and a separate northeast-striking gold-in-soil anomaly along the southern margin of the magnetic low feature.
  • Other High Priority Targets: Approximately 25 RAB holes will be drilled to test high-priority targets on the White Gold, Hen and JP Ross properties.
  • JP Ross Property: Mechanical trenching will be carried out on a number of existing targets on the JP Ross property highlighted by 2019 results from soil geochemistry, GT probe samples, VLF surveys, RAB drilling and geological and structural interpretations, in order to collect key structural data to aid in ongoing interpretations and future drill planning.
  • Extensive regional exploration work on other properties will include geologic mapping and prospecting, soil sampling, GT probe sampling, ultra high-resolution drone imagery, and ground magnetics and VLF surveying on the Betty, Nolan, Bonanza and Tea properties.

A district scale map outlining the Company’s planned 2020 exploration work areas and other images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

The gross proceeds received from the sale of the FT Shares will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the “Tax Act”) on the Company’s properties in the White Gold District of the Yukon Territory, and renounced to subscribers in the Offering effective December 31, 2020. Such Canadian exploration expenses will also qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act. Participation by the Insiders in the Offering was considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insiders’ participation in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report was filed in connection with the participation of Insiders in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.

The FT Shares issued pursuant to the Offering are subject to a statutory four month and one day hold period under applicable Canadian securities laws expiring on October 10, 2020. The Offering is subject to the final acceptance of the TSX Venture Exchange (“TSXV”).

The Company also announces that a total of 3,250,000 options to purchase common shares of the Company have been granted to directors, officers, employees and consultants at an exercise price of $0.90 per share, expiring on June 10, 2025. The grant is subject to regulatory approval.

About White Gold Corp.

The Company owns a portfolio of 21,111 quartz claims across 33 properties covering over 420,000 hectares representing over 40% of the Yukon’s prolific White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t gold and 508,700 ounces Inferred at 1.48 g/t gold. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts a historic Inferred gold resource of 230,000 ounces at 1.65 g/t Au(1). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au(2), and Western Copper and Gold Corporation’s Casino project which has Proven and Probable reserves of 8.9 Moz Au and 4.5 Blb Cu(2). For more information visit www.whitegoldcorp.ca.

(1) See Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.
(2) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person

Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the 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 news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

 

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