Advantage Lithium (V.AAL)

V.AAL, Advantage Lithium, lithium, Argentina, David SidooAdvantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. The common shares of the Company are listed on the TSX Venture Exchange (TSX-V: AAL), and the Company is also traded on the OTCQX Best Market in the U.S. (OTCQX: AVLIF). The Company has acquired a 100% interest in five projects in Argentina and up to a 75% interest in a sixth, called Cauchari. Cauchari is located just 20 km south of Orocobre’s flagship Olaroz Lithium Facility.

For more information see Advantage Lithium website here

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World Class Extractions Acquisition Target, Quadron Cannatech Introduces the “BIG BEAST” – the Latest Member of the BEAST Family of Extraction Systems to Process Over 5,000,000 kg of Cannabis or Hemp Per Year

World Class Extractions Inc. (“World Class”) (CSE: PUMP) (FRA:WCF) is pleased to announce that its acquisition target Quadron Cannatech Corporation (the “Company” or “Quadron”) (CSE: QCC), will begin to take reservations to toll process hemp or cannabis with the “BIG BEAST”, a fully automated, touch screen control continuous flow Ethanol Extractor System. The “BIG BEAST is the latest addition to the BEAST family of extractors, with estimated processing capacity of up to 20,000 kg of biomass per day – over 5,000,000 kg of biomass annually.

The BIG BEAST will be in production later this year following extensive innovative engineering which anticipates extracting and processing industrial scale biomass for the hemp and cannabis industry.

Some Key BIG BEAST Advantages:

  • Compliant with GPP (Good Production Practices) and GMP (Good Manufacturing Practice)
  • Advanced proprietary biomass cooling with ERS (Energy Recovery Exchange)
  • Continuous flow extraction with inline solvent recovery and surge storage
  • Equipped with proprietary “Crossflow” ethanol maximizer to operate within daily NFPA (National Fire Protection Association) ethanol limits
  • Advanced filtration stacks

The BEAST family of extractors compliments Quadron’s portfolio of the “BOSS” line of extraction systems – the next generation co-solvent cannabis and hemp extraction systems that were built to simplify extraction with the benefits of automation and data analytics; as well as the Company’s Mobile Extraction Module – a state-of-the-art self-contained and fully portable extraction and processing laboratory.  The Company is also preparing several additional machines with novel inhouse technology for the cannabis and hemp industry, including:  a biomass dehydration system, a preparation and grinding unit, as well as an advanced filtration system.

Rosy Mondin, CEO of Quadron commented, “We are excited about the development of the BIG BEAST, the first of its kind in North America.  The BIG BEAST is a high efficiency ethanol extraction system which represents the end result of extensive research and development.  The BIG BEAST should have the capability of providing farmers and licensed participants the ability to process extraordinary amounts of biomass per day.”

“We are excited by Quadron’s latest technological advancement towards developing a high efficiency, low cost extraction solution for the hemp and cannabis markets,” said Michael McCombie, CEO of World Class Extractions. “This latest development allows WCE  to focus on large scale extraction and supply of CBD derived from hemp in the United States.”

The Company will deploy the BIG BEAST later this year in selected US states and Canada.  Interested parties are encouraged to contact the Company directly for more information.

About World Class Extractions

World Class is a Canadian based developer of an innovative, large scale extraction process for both the hemp and cannabis industry. The Company intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, World Class’ results produce higher yields and better quality full spectrum crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. World Class can save its clients floor space, utility drying costs, equipment and processing labour costs.

For more information, visit: www.wcextractions.com.

On behalf of the Board of Directors of
WORLD CLASS EXTRACTIONS INC.

Michael McCombie
Chief Executive Officer
mike@wcextractions.com

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements. In making the forward-looking statements in this release, the parties have applied certain factors and assumptions that are based on the parties’ current beliefs as well as assumptions made by and information currently available to the parties. Although the parties consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. The parties do not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. 

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FSD Pharma Welcomes All-Star Lineup of Cannabis Researchers to Scientific Advisory Board

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), is pleased to announce that three eminent cannabis researchers have joined the company’s Scientific Advisory Board (“SAB”).

“We are honored to welcome Daniele Piomelli, Ph.D., Ryan Vandrey, Ph.D. and David Casarett, MD, MA to our Scientific Advisory Board,” said Dr. Raza Bokhari, FSD Executive Co-Chairman & Chief Executive Officer. “This trio of world-renowned experts will play a key role in our company’s scientific and clinical development programs. Their guidance will be invaluable in shaping the biopharmaceutical strategic direction of the company.”

The new members include:

Daniel Piomelli, Ph.D.

Dr. Piomelli is the Louise Turner Arnold Chair in Neurosciences and Distinguished Professor of Anatomy and Neurobiology, Pharmacology and Biological Chemistry at the University of California, Irvine, where he is also the Director of the Center for the Study of Cannabis. He has authored more than 400 peer-reviewed articles in high-impact journals, three full-length books and 34 patents and founded the Department of Drug Discovery and Development at the Italian Institute of Technology in Genoa, Italy, which he directed from 2007 to 2016. He is Editor-in-Chief of Cannabis and Cannabinoid Research, the only peer-reviewed journal entirely dedicated to the scientific, medical, and psychosocial exploration of clinical cannabis, cannabinoids, and the endocannabinoid system.

Ryan Vandrey, Ph.D.

Dr. Vandrey is an experimental psychologist and an Associate Professor at the Behavioral Pharmacology Research Unit at Johns Hopkins University. Dr. Vandrey’s research focuses primarily on the impact of route of administration, dose, and chemical composition of cannabis products on resultant drug effects and pharmacokinetics. In addition, Dr. Vandrey has been involved with a broad range of studies related to the risks and benefits of medicinal cannabis use, the effects of cannabis use on sleep, cannabis withdrawal and the treatment of Cannabis Use Disorder, cannabis product testing, and developing measures of cannabis use behavior.

David Casarett, MD, MA

Dr. Casarett is a professor of Medicine at Duke University and the Chief of Palliative Care for Duke Health where he directs the Duke Center for Palliative Care. He is the author of more than 140 articles in journals including The Journal of the American Medical Association and The New England Journal of Medicine. His writing has appeared in national publications including the New York Times, and Wired. Dr. Casarett is also the author of three non-fiction books, the most recent of which was Stoned: A Doctor’s Case for Medical Marijuana, published in 2015 by Penguin Random House. He is the principal of Cannabis Outcomes, a full-service research and consulting group focused on bringing methodologic expertise to medical cannabis research and care delivery. His work in the cannabis space has included founding roles in startups that focus on growing/dispensing (Curio Wellness; CleverLeaves), genetic testing (MelixGx), data tracking (Evio Labs), and research (Zelda; Clinicann).

The SAB will continue to guide FSD Pharma in emerging as a leader in the field of cannabinoid therapeutics. The Board is led by chairman Charles V. Pollack, Jr., M.A., M.D., FACEP, FAAEM, FAHA, FACC, FESC, FCPP, an international leader in emergency medicine and founder of The Lambert Center for the Study of Medicinal Cannabis and Hemp at Thomas Jefferson University. The Board will continue to bring on well-known medical professionals with extensive research, academic and industry experience.

About FSD Pharma
FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet that is licensed at its Ontario facility and expansion is currently underway.

FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 square feet.

FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its Sale for Medical Purposes license on April 18, 2019. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new industry, including cultivation, legal, processing, manufacturing, extracts and research and development. For additional information on the company, please visit our website at www.fsdpharma.com.

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

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Actual results and developments may differ materially from those contemplated by these. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE FSD Pharma Inc.

For further information: Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations: Ned Berkowitz, Email: Ned.Berkowitz@russopartnersllc.com, Tel: (646) 942-5629; Zeeshan Saeed, President and Founder, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884

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Uranium Ambitions in Argentina

We had the opportunity to touch base with Nikolaos Cacos President and CEO of Blue Sky Uranium (V.BSK).

At the end of February, Blue Sky put out a PEA on its Amarillo Grande Uranium-Vanadium Project in Rio Negro ProvinceArgentina. As part of that PEA on site processing of the material was costed. What the company plans to build is a uranium and vanadium recovery operation which will be supplied by the resource outlined in the PEA. However, Blue Sky is not stopping there.

Today Blue Sky issued a press release discussing its plans to explore three high priority target areas. One of these target areas is immediately to the West of the Ivana deposit, however, the other two target areas are 25 kilometers to the north of the Ivana deposit. Cacos is quoted in the release as saying, “Following on the heels of our successful PEA for the Ivana deposit, we are continuing exploration with confidence in the potential for discovery of additional deposits that will build value. Our team has made considerable advancements in exploration targeting and all of our results to date confirm significant uranium and vanadium anomalies to the west and north of the Ivana deposit, with additional prospects along the 145km-long exploration trend covered by the Amarillo Grande Project.”

In our brief conversation, Cacos was very optimistic about the coming program. “We have developed a really good understanding of the geology in the region,” said Cacos. “We know the pathfinders.”

The deposits Blue Sky is looking for tend to be very close to surface and the company can use augurs and reverse circulation drilling to quickly explore prospective targets. The company also has the advantage of access to unanalysed core drilled by a former Joint Venture partner. Although Cacos points out, “They drilled with six kilometer spacing. There is a chance they simply missed a deposit.”

We’re looking forward to a steady news flow as Blue Sky continues to explore what it believes may be a district scale uranium and vanadium resource.

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World Class and Deveron Enter Drone and AI Data Services Agreement to Assist Hemp Farmers across North America

World Class Extractions Inc. (CSE: PUMP) (FRA: WCF) (the “Company” or “World Class”) is pleased to announce it has entered into a Service Agreement with Deveron UAS Corp. (CSE:DVR) (“Deveron”) whereby Deveron will provide drone data and soil sampling services to World Class and its affiliate farmers focused on hemp production in the United States and Canada, providing an opportunity to increase yields and reduce costs.

Deveron has worked with leading agricultural companies to bring data acquisition and analytics to broad acre farmland. The company is integrated with leading farm platforms, like Bayer Crop Science’s Climate FieldView and John Deere’s MyJohnDeere data management systems. The expansion into hemp data analytics is a natural extension to the current data insights it provides to leading farmers in North America that grow corn, soybean, wheat and canola.

Deveron is an industry leading agriculture technology company focused on data acquisition and analytics that drive increased yields and reduced costs. The two companies will be bringing best-in class data acquisition tools for hemp growers that include drone data and soil data. On top of data acquisition, the company will be working with World Class and its farmer partners to deliver digital records and analytics that will help with benchmarking the hemp production process, traceability and other best management practices.

“Farming hemp requires proper planning, preparation and execution and we want to make sure our partner farmers have access to the best technology to assist them. The high value of hemp crops today makes the data Deveron collects even more valuable than for traditional row crops and will help our farming partners make better informed decisions on the field,” said Michael McCombie, CEO of World Class. “Deveron has a large network of agronomists and drone pilots throughout Canada and the United States, leveraging their technology and personnel spanning such large service areas will provide great value to our farmers as we build our network of processing facilities.”

“We are extremely excited to be expanding our digital product solution to the customers of World Class,” said David MacMilllan, President and CEO of Deveron. “On the data acquisition side, we see considerable scale and opportunities in supporting higher margin crop. Additionally, given our leading data insights algorithms with large growers in Canada and the United States, we believe we are uniquely positioned to provide the most informative data insights available to farmers thinking about changing their production from traditional row crops to hemp.”

About World Class

World Class is a Canadian based developer of an innovative, large scale extraction process for both the hemp and cannabis industry. The Company intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, World Class’ results produce higher yields and better quality full spectrum crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. World Class can save its clients floor space, utility drying costs, equipment and processing labour costs.

For more information, visit: www.wcextractions.com.

On behalf of the Board of Directors of
WORLD CLASS EXTRACTIONS INC.

Michael McCombie
Chief Executive Officer
mike@wcextractions.com

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements. In making the forward-looking statements in this release, the parties have applied certain factors and assumptions that are based on the parties’ current beliefs as well as assumptions made by and information currently available to the parties. Although the parties consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. The parties do not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. 

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Goldplay Announces its 2019 Drilling Program at its San Marcial Project in Sinaloa, Mexico

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce details of its 5,000 metre diamond core drilling program at the San Marcial Project (the “Project”) in the Rosario Mining District, Sinaloa, Mexico. The objective of the 2019 program will be three-fold: to expand the current NI 43-101 silver (“Ag”) resource by drilling the Faisanes target; to define a new gold (“Au”) resource at the Nava target;  and to investigate newly discovered zones along the Faisanes-Nava Corridor (Figure 1).

The drilling program will be comprised of two phases. During Phase I, approximately 5,000 metres of shallow drilling (250 m to 300 m) will be completed aiming to define shallow down dip and along strike continuity of mineralization already outlined by recently completed surface exploration and sampling programs. At the Faisanes target, the drilling will focus on wide intersections at surface located adjacent to the existing San Marcial resource area. It will investigate down dip and along strike extensions of high grade silver mineralization, including 56 m @ 196 g/t Ag (see News Release February 21, 2019), as well as mineralization recently identified in trenches along a strike length extending 600 m to the west of the San Marcial resource area (Figure 2). The 600 m long Faisanes target compares with the 500 m strike length of the San Marcial resource area, which represents an immediate opportunity for resource expansion.

At the Nava target, the recently discovered wide gold mineralization, 40 m @ 0.7 g/t Au (see News Release May 7, 2019), represents a low sulphidation epithermal system with a potential strike length of 500 m. The proposed shallow drilling program will investigate down dip and along strike continuity of the mineralization in the zone defined by Goldplay’s recent trenching (Figure 3), and later expand 400 m towards the western extension of the mineralized zone.

The Company anticipates drilling other highly prospective areas in the Faisanes-Nava Corridor where there is evidence of a favorable geological setting to host Au-Ag mineralized zones associated with old workings.

The Company is fully permitted to drill up to 69 drill holes and has obtained all land access and legal permits to carry out all exploration activities including drilling at the San Marcial Project. Subject to results of the Phase I drilling program described above, the company is anticipating further drilling in late 2019 and early 2020 with a Phase II drilling program. The Phase II will aim not only to expand the Au and Ag mineralization further down dip and along strike, but also to investigate eight exploration targets located along a 6 km trend outside of the 500 m long San Marcial resource area (Figure 4).

Goldplay President and CEO Marcio Fonseca commented, “Goldplay’s strategy for San Marcial is to achieve a material increase in the high-grade resources by drilling the new targets in the vicinity of the current resource over the next six months. The Company has built a robust and attractive high-grade silver, potentially open pit, project and the recent discovery of Au targets has transformed the San Marcial Project into a multi-commodity resource-development stage project. Our successful exploration program has enabled Goldplay to discover eight targets in a short period of time, making the San Marcial Project one of the most attractive projects in the Rosario Mining District. We look forward to moving forward with drilling and exploration with the goal of identifying significant tonnage of high-grade material which will continue to dramatically improve the attractiveness of the San Marcial Project.

The Company has engaged a drilling contractor to immediately commence drilling on the San Marcial property. This initial drilling program is expected to be for up to 5,000 meters at the newly discovered Faisanes and Nava targets. Subject to the approval of the TSX.V, the Company intends to issue common shares to the drilling contractor for the services provided in regard to this Phase I work program, with the number of shares and share price being determined at the market price at the time the work has been completed, in compliance with the policies of the TSX.V.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay’s current focus includes resource expansion at the San Marcial Project, as well as a follow up exploration program in the 100% owned exploration portfolio. Goldplay is one largest concession holders in one of the most prolific mining districts in Mexico, controlling strategic concessions next to large gold and silver producers in Mexico.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc open pit project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. It is a low risk resource development stage project, fully permitted for all exploration activities and with support and authorization by local communities to carry out all necessary work on the project.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

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

SOURCE Goldplay Exploration Ltd

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

http://www.goldplayexploration.com/

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Marathon Gold Announces Q1 2019 Financial Results

Marathon Gold Corporation (MOZ-TSX) (“Marathon”) announced today its financial results for the three months ended March 31, 2019. Following the completion of the updated preliminary economic assessment (“PEA”) on the Valentine Lake Gold Project in October 2018 and a successful financing transaction in February 2019, Marathon’s current exploration and technical activity is in support of the pre-feasibility study (“PFS”) on the Valentine Gold Project.

Highlights

Sale of NSR to Franco-Nevada

On February 21, 2019, Marathon completed the sale of a 2% net smelter returns royalty (“NSR”) to Franco-Nevada Corp. (the “FNV NSR”) for proceeds of $18 million.  This attractive transaction is anticipated to fund Marathon’s exploration and technical work through to completion of the PFS and was pursued rather than an equity financing to manage the dilution of shareholders.  The FNV NSR includes an 0.5% buy-back provision that allows Marathon to reduce the royalty to 1.5% prior to December 31, 2022 at a cost of US $7 million.

Financing and Liquidity

At March 31, 2019, Marathon’s cash position was $19.4 million compared to $3.7 million at December 31, 2018, reflecting the sale of the FNV NSR.

Infill drilling program:

Following on from successful 2018 drilling programs at the Marathon and Sprite deposits, Marathon’s 2019 infill drilling program is in progress with completion expected in the third quarter of 2019.  This program is being carried out primarily on the main mineralized corridors of the Marathon and Leprechaun deposits with two concurrent objectives, both of which are directly connected to the PFS:

  • To further confirm Marathon’s geological models for the Marathon and Leprechaun deposits by demonstrating the lateral continuity of the QTP-gold veining along and across strike as well as to depth within the mineralized corridors, and
  • To continue to upgrade existing inferred resources in each deposit into the measured and indicated categories and to increase measured resources for the first five years of mining operations.

To date, Marathon has completed 73 holes covering 19,868 meters in the two deposits, representing approximately 44% of the infill drilling planned for the year.  Results to date have exceeded management’s objectives and are expected to not only upgrade the confidence levels of the resources but achieve an overall increase in gold grades in the measured and indicated resource categories.  Upon completion of the infill drilling program, Marathon will update its mineral resource estimate to support the PFS.

Environment and Stakeholder Engagement:

Marathon filed an Environmental Assessment (“EA”) Registration/Project Description with the Newfoundland and federal governments on April 5, 2019, which was subsequently accepted into the formal EA review process on April 16, 2019.  These documents are posted by both governments for public review and comment and are reviewed by the various regulatory departments to determine if, and to what extent, further EA is required.  A decision on this stage of the EA process is due on May 31, 2019 by both levels of government.

Marathon commenced formal stakeholder engagement in March 2019, beginning with public meetings in the closest communities to the project, including Buchans, Millertown and Grand Falls-Windsor, to brief residents, municipal governments, and other local stakeholders on the status of the project and Marathon’s development plans.

Results of Operations:

The results of operations for the three months ended March 31, 2019 and 2018 are summarized below.

 20192018
  $$
Expenses:
General and administrative expenses583,179483,630
Other income – royalty payments related to gold sales by the Golden Chest Mine(26,344)
Interest income(27,518)
Interest expense216
Foreign exchange gain(6,587)(5,225)
Loss before tax522,946478,405
Income taxes104,784(311,151)
Loss for the period627,730167,254
  

This press release should be read in conjunction with Marathon’s condensed interim consolidated financial statements for the periods ended March 31, 2019 and 2018 and the related Management’s Discussion and Analysis, both of which are available on www.sedar.com.

Cautionary Statement

The updated PEA was prepared in accordance with NI 43-101. Readers are cautioned that the PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the economic results reflected in the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Qualified Person

This press release has been reviewed by Phillip Walford, P.Geo.  Mr. Walford is a Qualified Person in accordance with NI 43-101 and has approved the contents of this press release on behalf of Marathon.

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world.  Marathon has confirmed the feasibility of the Valentine Gold Camp, which currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t.  The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell.  Both deposits are open at depth and on strike.  Gold mineralization has been traced down almost a kilometer vertically at Marathon and over 350 meters at Leprechaun.  The four deposits identified to date occur over a 20-kilometer long system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid.  Marathon maintains a 50-person all-season camp at the property.  Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 53% to 77% recoveries via lower cost heap leaching at both the Marathon and Leprechaun Deposits.

To find out more information on the Valentine Gold Camp project, please visit www.marathon-gold.com.

Jim Kirke
Chief Financial Officer
(416) 987-0710
Phillip Walford
President and Chief Executive Officer
(416) 987-0711

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.  By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com.  Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

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Skyharbour Partner Company Azincourt’s VTEM Survey Generates Seven New Target Areas at East Preston Uranium Project

Skyharbour Resources Ltd. SYH)”>(TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) pleased to announce that its partner company Azincourt Energy Corp. (“Azincourt”) has announced results from the helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and Magnetic survey conducted over the southeastern portion of the East Preston Uranium Project, located in the western Athabasca Basin, Saskatchewan.

Preston Uranium Project Map:
http://skyharbourltd.com/_resources/maps/SYH-Patterson-Lake.pdf

As reported previously, partner company Azincourt conducted a helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and Magnetic survey in February 2019 over the southern portion of the East Preston Project to complete survey coverage over the entire 25,000+ hectare project area. The survey consisted of 498 line-km with 300 m line spacing and 1,000 m tie-line spacing – identical parameters to the previous VTEM™ Max survey, and ties directly into the previous flight lines oriented NW-SE, perpendicular to the NE-SW orientation of the regional structural and basement conductor trends at East Preston.

East Preston VTEM Survey:
http://www.skyharbourltd.com/_resources/images/East-Preston-VTEM-survey.jpg

Geotech completed data processing and provided a merged dataset covering the entire East Preston project. In-depth interpretation has now been completed by Bingham Geoscience, geophysical consultants to Azincourt. The detailed interpretation of the project-scale VTEM survey data has added an additional seven areas to the project target inventory and has confirmed the main A-conductor trend extends an additional five km southwest to the property edge.

VTEM Survey Grid – Completed January 2019:
http://azincourtenergy.com/wp-content/uploads/2019/02/Figure-1-VTEM-Survery-Grid-Jan-2019-AAZ.jpg

Four of the new target areas (A7, A8, B4 & C1) display prospective structural offset breaks in the conductor trends with multiple, discreet conductors interpreted. Three new target areas (B5, B6 & E1) display single discreet conductors coincident with magnetic structures and offset breaks. All new target areas are considered prospective for basement-hosted unconformity uranium discovery and the expanded targets at East Preston will now be prioritized for continued exploration drill testing.

About East Preston:

Extensive regional exploration work at East Preston was completed in 2013-14, including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified.  Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.

Azincourt completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near previous drilling along the Swoosh corridor. Ground-truthing work confirmed the airborne conductive trends and more accurately located the conductor axes for future drill testing. The gravity survey identified areas along the conductors with a gravity low signature, which is often associated with alteration, fault/structural disruption and potentially, uranium mineralization. The combination/stacking of positive features has assisted in prioritizing targets.

The Main Grid shows multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity.

The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine.  East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover – therefore they are relatively shallow targets but can have great depth extent when discovered.  The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).

Drilling commenced in March of 2019, testing the first few priority targets to depths between 150 and 200 meters.  Results are pending and will be announced once received, reviewed and verified.

Option Agreement:

Skyharbour and Clean Commodities entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt has an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Under the Agreement, Azincourt has issued common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities, as well as $2,500,000 in exploration expenditures over the three-year period.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approx. 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone with drill results returning up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high-grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/SYH_Landpackage_2014.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”
                                                           
Jordan Trimble
President and CEO

For further information contact myself or:
Nick Findler
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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

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Positive Testing by SGS Shows that both Leprechaun and Marathon Deposits Amenable to Heap Leaching, Valentine Gold Camp, NL

Heap Leach Test Highlights:

  • 72% gold extraction average for -25 mm (-1/2 inch) crush size on the Leprechaun Deposit after a nominal 160 days of leaching
  • 65% gold extraction average for -25 mm (-1/2 inch) crush size on the Marathon Deposit after a nominal 160 days of leaching
  • Final gold recoveries are expected to be approx. 2% less after processing losses are considered
  • The new heap leach results are significantly more favourable than the 59% gold recovery used in the October 2018 PEA.
  • In all column leach tests, half of the gold that was extracted was dissolved in less than 10 days.

Phillip Walford, President and CEO of Marathon Gold commented: “The Preliminary Economic Assessment (PEA) showed that traditional milling is expected to produce more than 85% of the gold for the project with the balance from the heap leach.  These very good heap leach test results more than justify the consideration of heap leaching in our development plan and have improved the project economics. Heap leaching of low-grade gold material is a potential enhancement for the project in recovering gold that may otherwise go on a stockpile or waste dump. The results from this SGS program show that significantly higher heap leach gold recoveries can be expected than the 59% used in the last PEA.”

TORONTO, May 15, 2019 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce the results of the heap leach tests that commenced in the fall of 2018. The column tests used material from seven HQ holes drilled on the Marathon deposit and nine holes on the Leprechaun deposit.  The holes were placed spatially across the deposit and grouped into zones.  Zone A was delineated at the SW end of the Marathon deposit, Zone B in the center and Zone C at the NE end of the deposit.  Similarly, zones D, E and F were created for the Leprechaun deposit.  The holes were twinned with existing exploration holes to ensure representative grade was obtained for the heap leach test program.  On Marathon, a total of 170m of HQ core, weighing approximately 1400kg, was selected and on Leprechaun a total of 157m or 1300kg of HQ core was selected.  The average head grades of the combined intervals for each zone are listed in the table below.

The selected intervals of core were shipped to SGS Canada Inc. (“SGS”) in Lakefield, Ontario where they were crushed, assayed, and combined to form three Marathon and three Leprechaun heap leach “zone” composites.  These were crushed to various particle sizes and blended then tested for heap leach amenability in 3 m high by 150 mm (6”) diameter columns over a nominal 160-day leach time.  The test results are summarized in Table 1.

Table 1:  Column heap leach results for Valentine Gold Camp samples.

Column
number
DepositSamplesCrush sizeGold assays, g/tGold
extraction,
%
Column
feed
Column
residue
1MarathonZone A-12.5 mm (-1/2”)0.510.2453.3
2Zone B-12.5 mm (-1/2”)0.730.2566.3
3Zone C-12.5 mm (-1/2”)0.960.2871.3
Average of above0.730.2565(1)
4Blend A+B+C-25 mm (-1”)0.710.2367.1
5Blend A+B+C-12.5 mm (-1/2”)0.750.3060.4
6Blend A+B+C-6.3 mm (-1/4”)0.930.2573.0
7LeprechaunZone D-12.5 mm (-1/2”)0.380.1171.7
8Zone E-12.5 mm (-1/2”)0.660.1871.8
9Zone F-12.5 mm (-1/2”)0.570.1573.7
Average of above0.530.1572(1)
10Blend D+E+F-25 mm (-1”)0.520.1766.8
11Blend D+E+F-12.5 mm (-1/2”)0.450.1176.6
12Blend D+E+F-6.3 mm (-1/4”)0.540.1473.5
Notes: (1) Average extraction based on average of calculated column feed grades and average of column residue grades

The column residue assays were obtained by screening each residue into five screen fractions and assaying each fraction using the screen and metallics method.  The column feed assays were calculated from the column residue assay and the gold recovered on the carbon columns that were part of the column leaching procedure. The variability in the column feed grades is symptomatic of the high content of coarse gold in the mineralized material of the Valentine deposits.

Both Leprechaun and Marathon material are clearly amenable to heap leaching with Leprechaun particularly amenable.  A detailed analysis of the data shows that the main determinant of gold extraction by column leaching, for both deposits, was the column feed grade and that crush size and sample zone had limited influence on extraction.

The results from the SGS work confirm and improve on the short (0.7 m high) column leach tests performed by Thibault and Associates Inc. in 2016 which showed that, after leaching for 130 days, Leprechaun material containing approximately 1.5 g/t gold  gave 73% extraction when crushed to -12.5mm. Extraction for Marathon material containing approximately 2 g/t gold was 66% for the -12.5 mm sample.

Samples of the SGS column residues are being evaluated by Kappes, Cassiday & Associates in Reno, NV, USA to determine the permeability of the crushed material under load.  Such tests will indicate the effect of heap height on the ability of solution to flow through the heap. A series of environmental tests are underway on the heap leach residues to determine the long-term stability of these materials. Completion of the present heap leach test program will provide all the data needed for the Pre-Feasibility Study.

Qualified Person

John Goode of J.R. Goode and Associates is the qualified person with respect to the metallurgical information contained in this news release and has reviewed the contents for accuracy.

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world.  Marathon has confirmed the feasibility of the Valentine Gold Camp, which currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t.  The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell.  Both deposits are open at depth and on strike.  Gold mineralization has been traced down almost a kilometer vertically at Marathon and over 350 meters at Leprechaun.  The four deposits identified to date occur over a 20-kilometer long system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid.  Marathon maintains a 50-person all-season camp at the property.  Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 53% to 77% recoveries via lower cost heap leaching at both the Marathon and Leprechaun Deposits.

To find out more information on the Valentine Gold Camp project, please visit www.marathon-gold.com.

For more information, please contact:
Christopher HaldanePhillip Walford
Investor Relations ManagerPresident and Chief Executive Officer
Tel: 1-416-987-0714Tel:  1-416-987-0711
E-mail: chaldane@marathon-gold.comE-mail:  pwalford@marathon-gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.  By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com.  Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise. 

 

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Aben Resources: Gold in the Yukon and BC’s Golden Triangle

Part of running a successful resource exploration company is working on complementary projects. Projects which mesh with one another so that the exploration resources, the drillers, the geos and the logistical support can be deployed efficiently. A big part of that is combining projects which have different drilling seasons.

When you look at a map, British Columbia’s Golden Triangle and the southeastern corner of the Yukon would appear to be at about the same latitude and likely to experience much the same sort of temperatures. But there is one big difference: snow.

Jim Pettit, CEO of Aben Resources (V.ABN), is pretty blunt. “The Golden Triangle is in coastal mountains. We get forty feet of snow,” he said. “It might be gone by the end of May.”

Which is why Aben’s 2019 drilling program will start with its 100% owned Justin property in the southeastern corner of the Yukon. It snows plenty at Justin but far less than in the Golden Triangle.

Aben’s efforts are focused on what the company calls the “Lost Ace” gold zone discovered in 2017.

“We’ll be going up there soon,” said Pettit. “We hope to start at the beginning of June. We’re planning a small program. About $1,3000,000. We want to drill 2000 meters of diamond drilling and hope to do around 20 RAB holes, all 50 meters deep as well.”

Aben’s property is right next door to Golden Predator’s (V.GPY) Three Aces project. Like Golden Predator, Aben believes that the  “orogenic-style quartz-gold veins that bear a strong resemblance to and share similar geologic setting with Golden Predator’s adjacent 3-Aces Property is associated to the previously discovered intrusion related gold system called the POW ZONE that Aben found in a 2012 drill program. Previous exploration at Justin has successfully discovered this Intrusion related sheeted veins & vein breccias along with gold-bearing skarn mineralization. The new discovery at Lost Ace highlights the existence of a multi-phase hydrothermal intrusion-related system with the potential for overprinting mineralizing systems.”

In lay terms, “There is lots of coarse visible gold at the new Lost Ace Zone,” said Pettit. “And then there is the POW Zone skarn replacement style at surface and when we drilled there we hit on 10 of 19 holes. This had  is a lot of potential for lower grade with good widths.”

What Aben has found so far is an orogenic vein system (Lost Ace) in close proximity to a younger intrusion-related system (POW Zone)that has come up through older rock. It suggests that there is a significant hydrothermal system that could result in higher grades within the younger bulk tonnage intrusion related system.

Drilling should start in early June and Pettit is hoping to see results towards the end of July.

As the relatively short Yukon program is ending the last of the forty feet of snow in the Golden Triangle should have melted off and Aben will be able to mobilize its program at its Forrest Kerr project. While the last of the snow is melting the company plans to run an airborne mag survey over its “Boundary Zone” in the middle of its property.

“We’re hitting gold near surface but it can be erratic,” said Pettit. “We need to look deeper. Once we have completed the mag work, we will do a higher resolution drone survey of the targets we identify.”

At Forrest Kerr, Aben is looking for the contours of a geological system. “We’re up there looking for the contact between lithologies,” said Pettit. “All of the resources are within 2 kilometers of that contact and the Forrest Kerr fault which gives the project its name.”

“We’re there because of the grade,” said Pettit. Last season, the first hole reported contained, “Highest-grade zone consists of 331.0 g/t (grams/tonne) gold (Au) (9.65 oz/t) over 1.0 metre (m) within broad zone averaging 38.7 g/t Au (1.12 oz/t) over 10.0m from 114.0-124.0m including 62.4 g/t Au over 6.0m

Additional high-grade zones in Hole FK18-10 include 22.0 g/t Au, 22.4 g/t silver (Ag) over 4.0m; 3.9 g/t Au, 4.0 g/t Ag over 13.0m; and 8.2 g/t Au, 1.4 g/t Ag over 6.0m”

“This year we will be putting boots on the ground,” said Pettit. “We want to do geochemistry on the entire Boundary zone initially and then we have 3 priority target locations prioritized. We think we are close.”

Pettit plans to have one drill turning but Aben is permitted for as many as needed. “This year we have the pad locations and we should be able to drill at least 5000 meters,” said Pettit. “We’re looking for deeper structures so we will be drilling deeper.”

“Where we are exploring and drilling is “crazy alive” geologically,” said Pettit. “We have rocks of all different ages and the geological activity has allowed the fluids in. The question is, where did it come from?”

Beginning at the end of July or early August, Aben is hoping to have results, and perhaps the beginning of the answer to “where did it come from?”, as the Forrest Kerr core is assayed and reported.

Meanwhile, Pettit has been on the conference trail. “I was down in Scottsdale Arizona for the Capital Investment Conference in April,” said Pettit. “I had twenty meetings in one day and all of the investors were looking for resource stories.”

“It’s choppy out there,” said Pettit. “All Trump’s fault. But the markets have definitely bottomed.”

For Aben, having two high-grade gold stories, with results imminent, the bottom of the junior resource market sets the stage for a significant increase in shareholder value.

 

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Jonathan Rubenstein and Derek White Appointed to Advisory Board

Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce the appointment of two highly regarded mining executives, Jonathan Rubenstein and Derek White, to the Company’s Advisory Board. The Company’s Advisory Board was created to bring in members with experience in business development, equity markets and the natural resource sector to advise the Company’s management and Board of Directors.

Jonathan Rubenstein

Mr. Rubenstein is Chairman of the Board of MAG Silver Corp. (TSX: MAG, NYSE A: MAG) and a professional director, currently also serving on the Boards of Roxgold Inc. (TSX: ROXG). Mr. Rubenstein’s career in the mining sector has included a wide range of functions for both junior and major mining companies, including managing public and private corporate activities, securities matters, and negotiating financings in Merger and Acquisitions transactions, totaling several billions of dollars in value. He has been directly involved with asset acquisitions, joint venture agreements, and other deals involving governments, regulators, banks, and local populations. He has played key roles on Special Committees, dealing with corporate, commercial and strategic matters, corporate planning and structuring, contract negotiation and management, litigation and arbitration, and regulatory compliance management. Mr. Rubenstein holds a Bachelor of Arts degree from Oakland University and a LL.B. from the University of British Columbia. He practiced law until 1994 and was a senior officer in several mining companies until late 2005. Mr. Rubenstein obtained his Accredited Director designation in 2011 and has also been a member of the Institute of Corporate Directors since 2011.

Derek White

Derek White is President & CEO of Ascot Resources Ltd. (TSX-V: AOT) and has over 30 years of experience in the mining and metals industry. He holds a degree in Geological Engineering from the University of British Columbia and is also a Chartered Professional Accountant. Prior to joining Ascot Resources Ltd., Mr. White was the Principal of Traxys Capital Partners LLP, a private equity firm specializing in the mining and minerals sectors. Mr. White was President and CEO of KGHM International Ltd. from 2012 to 2015, and also held the positions of Executive Vice President, Business Development and Chief Financial Officer of Quadra FNX Mining Ltd. from 2004 to 2012. Mr. White has held executive positions with International Vision Direct Ltd., BHP-Billiton Plc, Billiton International Metals BV and Impala Platinum Ltd., in Vancouver, Toronto, London, The Hague, and Johannesburg. Mr. White is also an ICSA Accredited Director.

Both Mr. Rubenstein and Mr. White commented “We are very excited to become involved with Marcio and his team on Goldplay’s current projects in Mexico, and to further the Company’s vision to become a consolidator of the multi-million ounce historic Rosario Mining District in Mexico“.

Goldplay President and CEO Marcio Fonseca commented “Goldplay is thrilled to have Mr. Rubenstein and Mr. White join our Advisory Board. Both individuals are highly respected executives in the resource industry bringing invaluable experience in the sector, public markets and corporate development, to accelerate Goldplay’s growth”

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay’s current focus includes resource expansion at the San Marcial Project, becoming an emerging consolidator in a multi-million ounce historic mining district in Mexico. Goldplay is one largest concession holders in one of the most prolific mining districts in Mexico, controlling strategic concessions next to large gold and silver producers in Mexico.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc open pit project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. It is a low risk resource development stage project, fully permitted for all exploration activities and with support and authorization by local communities to carry out all necessary  work on the project.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

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

SOURCE Goldplay Exploration Ltd

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

http://www.goldplayexploration.com/

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