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

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


The Agreement

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

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

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

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

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

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

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

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

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

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

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

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

FIGURE 1 – Iska Iska Property Location And Main Deposits In Bolivia

International Mining Presence in the Department of Potosi, Bolivia

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

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

TABLE 1 – Eloro Iska Iska Channel Sampling Results

Sample No.
(m) 1
Ag g/tZn %Pb %Cu g/tBi g/tIn g/tSn g/t 
HK-012.350.010.530.010.01171.0012.501.0844.9Granodiorite,  tr-1% py-aspy dissem
HK-024.100.361.390.510.44519.00123.004.7257.8Granodiorite,  1% py-aspy dissem
HK-033.102.5025.502.150.63569.00967.009.76107.5Granodiorite, brecciated 3% py dissem
HK-043.600.8510.501.990.28439.0052.5026.3071.7Granodiorite, py, gal, sph 3mm veinlets
HK-, minor py, sph veinlets
HK-062.600.0746.103.010.77541.0040.80>50077.6Dacite, abundant dissem sulphides, massive sulphide veinlets.
HK-073.200.35204.004.814.13479.0030.70384.00131Dacite,  4 veinlets 1cm wide; massive sulphides, 30cm breccia
HK-083.700.0275.101.401.35219.0040.40101.5065.6Sandstone brecciated; py, aspy, gal, sph veinlets
HK-093.300.02266.005.758.24127.5071.0046.40215Sandstone brecciated, 3-5cm gal, sph, py veins
HK-102.700.01570.0010.609.721510.0073.00>500250Sandstone brecciated, abundant sph, gal, py, aspy veinlets
HK-112.40<0.011.670.690.1583.8023.709.6836.6Granodiorite, tr-1% fine sulph dissem.
HK-123.15<0.013.781.290.80105.501.945.6781.4Dacite, local fine dissem sulphides, sph, gal; 5 veinlets
HK-132.25<, local fine dissem sulphides
HK-142.900.0413.600.380.43171.504.122.8252.1Granodiorite fine disseminated py
HK-152.50<0.011.821.050.03104.501.812.0766.8Dacite, boxworks FeOx, 3cm sph, py veinlets
HK-162.15<0.010.850.080.01148.002.020.9938.7Granodiorite 1% fine dissem sulphides
HK-173.00<0.015.990.310.25130.003.061.83102.5Dacite 1% fine dissem sulphides
HK-183.850.03362.009.239.53327.0066.8023.00>500Dacite carbonaceous, 5mm sph, gal veinlets, abundant sulphides dissem
HK-193.000.0337.701.511.33435.0044.108.95>500Mine front-end, granodiorite cpy, py, gn, sph veinlets & dissem
HK-202.9515.507.580.250.07617.005860.001.0423.4N-S gallery, brecciated granodiorite 1 cm 3 gn veins, 1-2% dissem py
HK-213.350.342.600.510.07150.00100.503.9525Sandstone FeOx stockwork-sulphides
HK-222.909.1073.703.801.70750.001230.00323.0065.5Sandstone networkpy, boxwork FeOx, massive aspy, 3% dissem sulphides
HK-232.9012.3557.401.861.44191.001200.0019.3542Sandstone  2-5cm  abundant veins gn-sph
HK-242.560. 10 py veinlets, 1% fine dissem sulphides
HK-252.550.3226.900.011.16401.00162.5028.50>500Mine front-end granodiorite fine dissem sulphides
HK-262.552.71295.000.020.48>100003160.0024.10>500Qtz Sandstone py-aspy veinlets, 10cm massive sulphide veins
HK-271.251.6155.700.010.11>10000503.004.78>500Similar to former channel sample, abund py, pyrrh, cpy, calcoc
HK-283.351.65321.000.000.352920.001850.0016.85>500Qtz sandstone, euhedral crystalspy, po, fine dissem sulphides
HK-291.960.6068.700.010.01>100001500.0010.35>500Qtz sandstone massive sulph vns, py-aspy intergrowths,-veinlets
HK-302.100.011.720.010.00129.006.310.50127.50Qtz sandstone with 3% dissem sulphides, sporadic coarse py dissem
HK-312.302.60288.000.010.421430.002850.0010.60>500Qtz sandstone oxidized-bleached, stockwork FeOx
HK-324.600.022.900.020.011375.0021.400.8375.40Granodiorite oxidized micaceous, 5 mm FeOx veinlets
HK-335.550. to former channel sample
HK-342.100.021.610.000.0147.4017.700.6959.00Granodiorite brecciated, specularite matrix, dacite clasts
HK-352.300.010.550.000.0120.206.170.5843.60Similar to former channel sample
HK-361.602.148.990.010.72166.50646.005.8430.90Granodiorite brecciated, massive sulphide vein
HK-371.800.081.430.010.07112.508.973.8890.00Granodiorite, FeOx veinlets
HK-381.2028.6061.600.010.413140.007380.004.3717.00Massive sulphide vein 30 cm, py, po, cpy in altered granodiorite
HK-395.300. brecciated w/sulphidic matrix
HK-403.162.1868.903.753.75539.00334.005.44311.00Qtz Sandstone massive sulphides cpy, py, gn, sph, dissem, veinlets
HK-412.150.1973.401.081.08348.00428.0032.20171.50Similar to former channel sample, though includes stockwork py
HK-422.700.01694.0016.9516.95644.0037.00>500181.50Sandstone brecciated, abundant sph, gn, py, aspy vnlts

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

FIGURE 2 – Preliminary Interpretation of Iska Iska Geology and Mineral System (see Figure 3 for location map).

FIGURE 3 – Underground Channel Sampling Iska Iska Property (Huayra Kasa Adit)

Qualified Person

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

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

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

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

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

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

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

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

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

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

Blank Samples

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


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

About Eloro Resources Ltd.

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

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

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

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

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Crown Mining Applies for Drill Permit at Moonlight

Copper is enjoying a bit of a run with the spot price hovering at just less than $3.00 a pound.

Which is a great time for Stephen Dunn at Crown Mining to move forward with the permitting needed to drill the Moonlight copper deposit in California. In today’s press release Dunn states,

“The Moonlight deposit was evaluated in a report titled “Technical Report and Preliminary Economic Assessment on the Moonlight Deposit” by Tetra Tech dated April 18, 2018 (“PEA”) and found on Sedar. The oxide deposit, which had been partially evaluated by previous operators, has not been fully delineated and was treated as waste in the PEA. Proper and positive delineation of the oxide and metallurgical results from this proposed oxide drill program could substantially improve the economics of Moonlight.”

You can read the whole press release here.

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Is there a new golden age for copper coming to British Columbia?

Nelson Bennett writing in Business in Vancouver takes a look at BC’s significant copper mining industry and how junior explorers may be coming into their own.

“Majors like Rio Tinto have not yet picked up any copper projects in B.C.

“We would like to be, but we just need to find the right project,” Chris Welton, Americas region exploration director for Rio Tinto PLC (NYSE:RIO) said. “My exploration manager bugs me almost every time that I speak to him. And he reminds me that, to balance our portfolio in Canada, he wants a B.C. porphyry.”

Read the whole thing at

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Precipitate Appoints Former President & Executive Director of Barrick’s Pueblo Viejo Mining Operation as Advisor

Precipitate Gold Corp. (TSXV: PRG) (the “Company” or “Precipitate”) is pleased to announce it has appointed Mr. Mejico Angeles-Lithgow as an advisor and consultant to the Company.

Mr. Angeles-Lithgow is a Dominican national who, until March 2018 held the position of President and Executive Director of the Barrick-Pueblo Viejo mining operation in the Dominican Republic, a joint venture company between Barrick (60%) and Goldcorp (40%) which is the single largest investment in the country’s economic history. Mr. Angeles-Lithgow worked at Barrick-Pueblo Viejo for nearly 11 years, having held the position of Director of Government Affairs before being promoted to President and Executive Director.

As President and Executive Director of Barrick-Pueblo Viejo, Mr. Angeles-Lithgow was responsible for co-managing one of the largest gold mining operations in the world and one of the Dominican Republic’s most important economic drivers, with an initial infrastructure investment of approximately US$4.3 billion and a recent 2017 production rate of approximately 1.0 million ounces gold per year at an all-in-sustaining cost per ounce of US$525*. The Company currently reports existing mining resources of 13.4 million ounces (“Moz”) gold, 74.4 Moz silver, and 298.5 million pounds copper (measured and indicated mineral resource from 169.5 million tons grading 2.46 g/t gold, 13.66 g/t silver and 0.08% copper) and an additional 3.6 Moz gold, 16.0 Moz silver, and 87.2 million pounds copper in the inferred category**. (*March 2018, NI 43-101 report. **Reported annual 2017 production, Barrick website).

Jeffrey Wilson, Precipitate President & CEO, stated, “We are pleased to welcome Mr. Angeles-Lithgow to the Company as an advisor and consultant. In light of our recent announcement to acquire ground adjacent to Barrick’s Pueblo Viejo mining operation, Mr. Angeles-Lithgow will provide critical local and in-country expertise to augment the geological and business acumen of the Company’s management team and Board of Directors. Mr. Angeles-Lithgow’s track record for establishing mutually beneficial relationships between the mining sector and local communities, business leaders and government officials at all levels, will provide invaluable insight to Precipitate as it commences activities at its Pueblo Grande Project. In his prior capacities at Pueblo Viejo, Mr. Angeles-Lithgow established himself as an important leader in the country’s mining sector, while making unique contributions to an admirable precedent for successful and responsible mining in the Dominican Republic.”

Prior to working at Barrick, Mr. Angeles-Lithgow was the Director of Commercial and Regulatory Affairs at Empresa Generadora de Electricidad Haina, S.A. (E.G.E. Haina), one of the two power generation companies formed as a result of the capitalization of the former state-owned power utility in the Dominican Republic and the reform of the power sector. He worked in the power sector for over 8 years.

Prior to his experience in the power sector, Mr. Angeles-Lithgow held various positions in the private sector in the Dominican Republic from which his involvement in marketing, sales, economic development, investment promotion, and community development, add to his broad-based management experience.

Mr. Angeles-Lithgow received a B.Sc. in Business Administration from the Pontificia Universidad Católica Madre y Maestra (PUCMM) in Santo Domingo, followed by a Master of Science in Finance from the University of Lancaster, England and a Master’s Degree in Power Sector Economic Regulation from the Pontifical University of Comillas of Madrid, Spain (program delivered in Santo Domingo). He also completed a Master Degree in Security and Defense Studies from the Dominican Republic’s Ministry of Defense’s Graduate School of Strategic Studies and holds a graduate degree as Geopolitics Specialist from the same academic institution.

The Company also wishes to announce it has granted a total of 3,025,000 incentive stock options to directors, officers, employees and consultants of the Company, subject to TSX Venture Exchange approval and acceptance. Each option is exercisable to purchase one common share of the Company until November 20, 2023 at a price of C$0.08 per common share in accordance with the terms of the Company’s stock option plan.

About Precipitate Gold:

Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend and Pueblo Viejo Camp of the Dominican Republic. The Company also maintains assets in southeast Yukon Territory, specifically the Company’s Reef property located immediately adjacent to Golden Predator’s 3 Aces Project in the Upper Hyland River area. The Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company’s portfolio and increase shareholder value.

Additional information can be viewed at the Company’s website

On Behalf of the Board of Directors of Precipitate Gold Corp.,

Jeffrey Wilson

President & CEO

For further information, please contact:

Tel: 604-558-0335 Toll Free: 855-558-0335

Neither the TSX Venture Exchange nor its Regulation Service 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 press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company“) current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, 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 information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.


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Triumph Gold Reports Results from Drilling of the Nucleus Au-Ag-Cu Deposit, Freegold Mountain Property, Yukon Territory

Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the results from 4,159 metres of diamond drilling, in twenty-one holes, conducted in the Nucleus gold, silver, copper (Au-Ag-Cu) deposit area. Highlights of the 2018 Nucleus drill program include:

  • Four high-grade gold intersections:
    — 19.8 grams per tonne (g/t) gold (Au) over 0.84 metres*** (m) in N18-06 (39.62 – 40.46m)
    — 15.93 g/t Au over 1.00 metre*** in N18-17 (150.00 – 151.00m)
    — 13.67 g/t Au over 1.67 metres*** in N18-04 (28.51 – 30.18m)
    — 9.13 g/t Au over 2.00 metres*** in N18-16 (106.00 – 108.00m)
  • Mineralized intervals from sixteen of the twenty-one holes drilled in 2018 returned gold grades that exceed the average grade (0.544 g/t Au) of the current inferred mineral resources estimated in December 2014*. Examples include:
    — 1.196 g/t Au over 45.19 metres*** in N18-08 (19.81 – 65.00m)
    — 1.184 g/t Au over 59.50 metres*** in N18-17 (149.00 – 208.50m)

Highlighted intersections are noted below in Table 1, a full list of significant intersections is contained in Table 2, and the location and orientation of the drill holes are listed in Table 3 and displayed on Figure 1.

Table 1 – Highlighted results from 2018 Diamond Drilling at the Nucleus Au-Ag-Cu Deposit
Drill HoleFromToLength***AuAgCu
Also Inc.166.00176.0010.003.2127.00.227

The 2018 drill program at Nucleus was designed to optimize a future pit-constrained estimate of mineral resources by targeting:

  1. Near-surface mineralized areas that had insufficient drill density to support estimates of mineral resources.
  2. Near-surface mineralized areas where additional delineation drilling could facilitate upgrading of Inferred mineral resources to an Indicated category.
  3. Areas prospective for high-grade mineralization.

Triumph Gold Corp. has contracted SIM Geological Inc. to provide updated estimates of mineral resources for the Nucleus, Revenue and Tinta deposits, to be completed in 2019. All three deposits are located on Triumph Gold’s 100% owned, road accessible, two hundred square kilometre Freegold Mountain property, Yukon Territory. The updated resource estimate at Nucleus will incorporate all drill results prior to 2014, the results from sixteen holes completed in 2017 (press release PR18-01, dated January 18, 2018), as well as 4,159 metres of diamond drilling, in twenty one holes, conducted in 2018 (as described in this news release).

Table 2 Significant Results from 2018 Diamond Drilling at the Nucleus Au-Ag-Cu deposit
Drill HoleFromToLength***AuAgCu
N18-11No Significant Results
Also Inc.166.00176.0010.003.2127.00.227
Table 3 Location and Orientation of Nucleus Drill Holes, 2018
Hole IDEasting**Northing**AzimuthInclinationDepth


* Campbell, J., Sexton, A., Armitage, A., Studd, D., (effective date December 15, 2014, publication date February 28, 2015): Technical Report on The Freegold Mountain Project, Yukon Canada, Resource Estimates. 43-101Techincal Report. 

** Coordinates are given in North American Datum 83 (NAD83), Zone 8.

*** Length/interval refer to drill hole intercept. True widths have not been determined.

Methods and Qualified Person

Drill core samples ranged between 1 and 2 metres length and were cut at Triumph’s core logging facility on the Freegold Mountain Property. The samples were analyzed by SGS Canada of Vancouver, British Columbia. They were prepared for analysis according to SGS method PRP89: each sample was crushed to 75% passing 2mm and a 250g split was pulverized to better than 85% passing 75 micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30g nominal sample (method GE FAA313), and samples that tested over 10 g/t Au were retested using a 30g nominal sample and gravimetric analysis (method GO FAG303). An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B), over limit samples for copper were retested using the same technique but with assay grade four acid digestion and a higher range of detection (method GA AAS42S). Quality assurance and control (QAQC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional QAQC program was administered by Triumph Gold: at minimum three quality control samples, consisting of blanks, certified reference standards and duplicates, were blindly inserted into each 75 sample batch. QAQC samples that return unacceptable values trigger investigations into the results and reanalyses of the samples that were tested in the batch with the failed QAQC sample.

The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for the company, and qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.

Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and more information, please visit our website

On behalf of the Board of Directors

Signed “Paul Reynolds”
Paul Reynolds, President & CEO

For further information please contact:
John Anderson, Executive Chairman
Triumph Gold Corp.
(604) 218-7400

Nancy Massicotte
IR Pro Communications Inc.

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

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A photo accompanying this announcement is available at

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Aben Intersects Additional, Shallow High-Grade Gold Mineralization at the North Boundary Zone of the Forrest Kerr Project in BC’s Golden Triangle

Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) announces that additional analytical results have been received from the early-stage drilling at the 23,000 hectare Forrest Kerr Property (the “Property”) located in the Golden Triangle region of British Columbia. The eight drill holes reported here consist of step-out drilling at the North Boundary Zone and most of the holes intersected shallow, high-grade gold mineralization. Highlights include: 5.08 g/t Au over 12.0m in hole FK18-12; 23.3 g/t Au over 2.0m in hole FK18-13; and 10.62 g/t Au over 3.0m in hole FK18-17. To date, final analytical results have been received for 3,000m of a total projected 10,000m (table of values and hole descriptions near end of release).

Golden Triangle, B.C., claims map:

This step-out drilling has successfully expanded the North Boundary Zone along an interpreted NE-SW trend from the high-grade gold mineralization reported last year in holes FK17-04, 05, and 06 as well as in previously reported FK18-10 which intersected 38.7 g/t Au over 10.0m from 114.0m – 124.0m depth including 62.4 g/t Au over 6.0m (see news release dated August 9, 2018). Several discrete zones of Au-Ag-Cu-Zn mineralization were encountered in all eight drill holes reported here and the multiple mineralized horizons illustrate the strong potential for further discovery of precious metal bearing structures on the Property.


  • Hole FK18-12 returned 5.08 g/t Au over 12.0m (40.0m – 52.0m depth), including 24.25 g/t Au over 2.0m (42.0m – 44.0m depth)
  • Hole FK18-13 returned 23.3 g/t Au over 2.0m (106.0m – 108.0m depth)
  • Hole FK18-17 returned 3.18 g/t Au over 15.0m (232.0m – 247.0m depth) including 11.02 g/t Au over 2.0m (239.0m – 241.0m depth), as well as 31.40 g/t Au over 1.0m (261.0m – 262.0m depth)
  • North Boundary Zone remains open in all directions
  • 36 drill holes completed to date with assays pending for 27 of these holes which were drilled using Oriented Core Drilling techniques
  • Drilling continues as part of an expanded program
  • Broad soil geochemical anomaly over 4 km in length and continues to yield new discoveries (i.e.: recently-announced South Boundary Zone where final assays are still pending)
  • New airborne geophysical survey reveals numerous untested target areas

Jim Pettit, President and CEO of Aben Resources stated, “These high-grade step-out holes at North Boundary have expanded the zone which is open in all directions and confirm the presence of a robust mineralizing system in the area. Based on the geochemical and new geophysical data available to us we can clearly see the potential of the area that now includes the North Boundary Zone, the historic Noranda hole 230 meters to the south and the South Boundary Zone another 1.5 kilometers further south. Given the complex geology, we started using Oriented Drill Core techniques after these eight holes reported here which will help in identification of orientation and structure as well as to delineate additional high-grade mineralization. The target areas in and around the Boundary Zones are relatively shallow and continue to provide strong discovery potential as we have only systemically tested a very small area at shallow depths. The Company is awaiting additional assay results from 27 holes, three of which are from South Boundary and the rest from the North Boundary Zone. This new high-grade discovery is still in its early days and with this increased drill program there will be news for some time to come.  I would also like to welcome Eric Sprott as a new major shareholder and thank him for his support.  The Company now has just over $7 million in the treasury from financings and the exercise of warrants. “

Complete assays for the three holes collared 1.5 km south at the South Boundary Zone are still pending. The South Boundary Zone had never been drill-tested and the newly discovered mineralization is encouraging considering the distance between the collar locations in the North and South Boundary Zone. The ground between and beyond the two zones is highly prospective for further discovery of gold and copper-bearing horizons given that they are located within a large gold-in-soil and rock anomaly in similar lithologies. The ubiquitous nature of the veining and widespread alteration regimes indicates that a strong and extensive hydrothermal system operated throughout time across the Boundary Zone. The broader soil geochemical anomaly that covers both the North and South Boundary Zones extends for over 4 km north to south and 1.5 km east to west.

Boundary Area Soil Geochemical map:

Aben has also just completed a 355 line-kilometer airborne Magnetic survey over the entire Boundary Zone with results expected by the end of September. The interpreted results of the survey are expected to greatly assist in identifying fault structures that have good potential to host high-grade precious metal mineralization in the Boundary valley. Mineralization at Boundary is structurally controlled and hosted in a package of volcanic and volcaniclastic rocks from the Jurassic Hazelton Group. Several generations of quartz and quartz-carbonate veining are important hosts to mineralization, as are subordinate breccia zones with strong chlorite, hematite and carbonate alteration. The Boundary Zones lie between the Forrest Kerr Fault to the west, a major deep-seated crustal feature, and the unconformable contact between the Jurassic Hazelton Group and the Triassic Stuhini Group to the East. The rock reflects a prolonged history of strong hydrothermal activity combined with brittle deformation. The Boundary host package Hazelton rocks are also known to be a prolific host to several deposits throughout the region. The North Boundary area shows very little outcrop exposure and contains complex geology which is disrupted by a series of faults of unknown orientation. All additional drilling is implementing Oriented Core Drilling techniques which will aid in determining true thicknesses and establishing structural and lithologic controls to mineralization.

Table of Assay Results:

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Cu (ppm)
FK18-14no significant results
FK18-15hole lost at 61.5m
*all assay values are uncut and intervals reflect drilled intercepts true thicknesses and orientations of the various zones is currently not known

North Boundary Plan View Drill map:

Summary of Drilling:

FK18-11: same pad as FK18-10 at a steeper angle
Several intercepts > 1.0 g/t Au were encountered (high 4.55 g/t) throughout its 402m length

FK18-12: collar location 40 meters NE of FK18-10 & 11
Collared in mineralization at 12.0m (3.5 g/t Au) with a shallow zone between 40-52m that returned 5.1 g/t Au over 1.0m including 34.3 g/t Au over 1.0m

FK18-13: collar location same as above
Mineralization at or near top returned between 1-3 g/t Au with a high of 23.3 g/t Au over 1.0m at 106m depth

FK18-14 & 15: collar location 50m SW of FK18-10 & 11
Both holes encountered broken and faulted ground conditions that were poorly mineralized and in the case of FK18-15 lost at 61m

FK18-16: collar location as above at steeper dip (-65)
Narrow zones of low grade (<1 g/t) gold mineralization near top with a strong sulfide horizon at 300m that returned 1.7 g/t Au over 8.0m

FK18-17 & 18: collar location 185m SW of FK18-10 and drilled opposite direction (northward)
FK18-17 (-45) pierced a 15.0m zone that tested 3.2 g/t Au with an intercept of 31.4 g/t Au 20m below this zone (240m depth)
FK18-18 (-50) hit the same zone of above with 4.0 g/t Au over 4m.

Link to additional Cross Section and Plan View maps:

Analytical and QA/QC Description:

All 1- or 2-meter drill core samples were delivered to ALS Global prep facility in Terrace, British Columbia where they were crushed until 70% passed a 2mm sieve, then a 250g split was pulverized until better than 85% passed a 75-micron screen. Gold was tested via fire assay method Au-ICP21 with all ore-grade samples (>10 g/t) undergoing fire assay with gravimetric finish. ALS performed multi-element ICP-AES package ME-ICP41 in their Vancouver facility to test for 35 other elements. In addition to the quality assurance and quality control program performed by ALS, Aben personnel insert lab certified standards, field blanks and duplicates into the sample stream at the rate of one QA/QC sample in every 10 samples.

Cornell McDowell, P.Geo., V.P. of Exploration of Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing projects in British Columbia’s Golden Triangle, the Yukon, and Saskatchewan. The Company is actively exploring its flagship and high-grade Forrest Kerr Project located in the Golden Triangle region where recent drilling has discovered strong precious and base metal mineralization at the North Boundary Zone.

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


“Jim Pettit”
President & CEO

For further information contact myself or:
Don Myers
Aben Resources Ltd.
Director, Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119

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 for further information.

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Enforcer Gold accelerates earn-in at Roger gold-copper project

Enforcer Gold Corp (“Enforcer” or the “Company”) (TSX-V: VEIN) (FSE: N071) is pleased to inform its shareholders that the Board of Directors has agreed to accelerate its earn-in schedule on the Roger gold-copper project, for which it recently announced an updated mineral resource estimate. The project is advantageously located 5 km north of the historic mining center Chibougamau, Quebec, has all-season road access and is crossed by a power line that serviced the past-producing Troilus Mine. Enforcer is earning a 50% interest in the project from project operator, SOQUEM.

President and CEO Steve Roebuck, comments:

“Based on the favourable results of the updated resource estimate, Enforcer has decided to accelerate the earn-in phase of its option agreement by financing a Phase 2 diamond drilling program set to commence in September 2018. Planning is in progress and details of the upcoming program will be announced shortly.

The new resource estimate is a significant milestone for the Company and comes after investing in a 3,068 m drill program. We are very pleased of how far the project has advanced in the 8-month period since entering the option agreement. The Company is fully funded to cover the Phase 2 program which in turn will meet its year 2 spending obligation of $750,000.

I’d like to add that our working relationship with SOQUEM has been excellent; they bring a wealth of knowledge and experience to the table and are a very efficient operators. We look forward to the next steps in Roger’s development.”

Pit-Constrained Mineral Resource Estimate on the Mop-II Gold-Copper Deposit – July 4, 2018



Cut-off (g/t)




Contained AuEq




Contained Au
















Note: Details of the 2018 mineral resource estimate are provided in the Company’s press release dated August 28, 2018. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

On January 11, 2018, Enforcer announced that it had signed an agreement with SOQUEM to acquire a 50% interest in the Roger project by spending $2 million on work programs and issuing 1 million shares over a three-year period. Enforcer completed its first year $500,000 financial commitment by financing the Phase 1, 3,068 m diamond drilling program, which was designed to validate certain historic drilling and determine if mineralization continued at depth. Results of the program exceeded expectations, intersecting very consistent mineralization throughout each hole and in most cases with grades and widths exceeding the historical results (June 20, 2018 press release).

Following recent discussions with project operator SOQUEM, it was decided to accelerate the commencement of the Phase 2 exploration program starting in September 2018. The Company is fully funded to meet its Year 2 obligations of $750,000.


SOQUEM Inc., a subsidiary of Ressources Québec, is a leading player in mineral exploration with its mission to explore, discover and develop mining properties in Quebec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other mineral commodities in Quebec.

About Enforcer Gold Corp

Enforcer Gold Corp is a Canadian-based mineral exploration company and is earning a 50% interest in the royalty-free Roger project from SOQUEM. Roger hosts the Mop-II gold-copper deposit located 5 km from the historic mining center of Chibougamau, Quebec. To date, 58,000 m of diamond drilling have been completed at Roger property and underground exploration undertaken in 1988 included 1,177 m of development and over 1,000 m of chip sampling. Enforcer also holds a 100% interest in the Waswanipi gold project located 125 km west of Chibougamau. Both projects are situated within the prolific Abitibi greenstone belt, which has produced over 180 M oz. of gold and over 450 M tonnes of copper-zinc ore since the early 1900s.

Enforcer’s VP Exploration, Antoine Fournier, PGeo, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release.

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

This news release contains “forward-looking statements” that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration of its Roger project, the exploration potential and analogous deposit potential of the Roger project and the timing of the Company’s exploration programs. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; the ability of the Company to complete transactions on terms announced; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Enforcer Gold does not undertake to update any forward-looking information except in accordance with applicable securities laws.

SOURCE Enforcer Gold

For further information: please visit or contact: Steve Roebuck, President & CEO T: (647) 496-7984, C: (905) 741-5458, E:

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Aben Resources, Ltd. President and CEO, Jim Pettit, Joins Everett Jolly on Uptick Newswire’s “Stock Day” Podcast

Uptick Newswire today announced Aben Resources, Ltd. CEO, Jim Pettit’s interview on Uptick Newswire’s Stock Day podcast.

“Since your last visit to our show the Company was trading around $0.09, it is now trading between $0.18 and $0.19 and trading good volume.  Can you tell me about the results of drilling last year?” asked Jolly.

“We drilled about 2,500 meters last year,” said Pettit.  “It turned out to be nine holes.  We hit a pretty significant structure, 21 gram gold, 28 gram silver and 3% copper.  The whole mineralized zone is well over 300 meters, so it is a very broad-based zone that has very high grade cores.”

“The Company’s most recent project is the Forrest Kerr Project in a region in British Columbia called the Golden Triangle,” said Jolly.  “Where they began an 18-hole project.”

To listen to the full interview please click here to the following link:

About Aben Resources:
Aben Resources is a Canadian gold exploration company developing projects in British  Columbia’s Golden Triangle, the Yukon and Saskatchewan.
Aben Resources has approx. 81.1 million shares issued and outstanding with approx. $3.1 million in its treasury.

For further information on Aben Resources Ltd. (TSX-V:ABN), visit our Company’s web site at
“Jim Pettit”

President & CEO
For further information contact myself or:
Don Myers
Aben Resources Ltd.
Director, Corporate Communications
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119

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 for further information.

About Uptick Newswire and the “Stock Day Podcast”
Uptick Newswire is a private company reaching out to the masses keeping investors and shareholders up to date on company news and bringing transparency to the undervalued, undersold, micro-cap stocks of the market and is the sole producer of the Uptick Network “Stock Day” Podcast. The Uptick Network “Stock Day” Podcast is an extension of Uptick Newswire and has recently launched the Video Interview Studio located in Phoenix, Arizona.

Investors Hangout is a proud sponsor of Stock Day and Uptick Newswire encourages listeners to visit Aben Resources, Ltd. message board on:

Source: Uptick Newswire

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Great Infographic on Copper

Over at the Visual Capitalist, Jeff Desjardins has a fact filled infographic up on copper. More specifically, the fact that copper demand is going to soar in the face of the need to build grid capacity, power electric cars and generally move towards an all electric future.

Worth the time to take a look

Copper: Driving the Green Energy Revolution

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Copper Crunch?

Over at there is an intriguing story about a looming copper supply deficit:

“The situation looks even worse when considering that over 200 copper mines currently in operations will reach the end of their productive life before 2035, Sampson said on Monday.

Only if every single copper project currently in development or being studied for feasibility is brought online before then, including most discoveries that have not yet reached the evaluation stage, the market could meet projected demand, the consultant said.”

Read the whole thing

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