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Gran Colombia Provides Details of Forthcoming Repayments of its Gold Notes; Declares Monthly Dividend to Be Paid on May 17, 2021

 Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today the details for the forthcoming quarterly repayment of its 8.25% Senior Secured Gold-Linked Notes due 2024 (the “Gold Notes”) (TSX: GCM.NT.U) as follows:

Payment date:April 30, 2021
Record date:April 23, 2021
Cash payment amount:Approximately US$0.12437019 per US$1.00 principal amount of Gold Notes issued and outstanding on the Record date representing an amortization payment of the principal amount of approximately US$0.08847185 per US$1.00 principal amount of Gold Notes and a gold premium of approximately US$0.03589834 per US$1.00 principal amount of Gold Notes. Based on the London P.M. Fix on April 15, 2021 of US$1,757.20 per ounce, the aggregate amount of the cash payments on the Payment Date will be US$4,059,132, of which US$2,887,500 will be applied to reduce the aggregate principal amount of the Gold Notes issued and outstanding and the balance represents the Gold Premium.
Principal amount issued
and outstanding:
As of today’s date, there is a total of US$32,637,500 principal amount of Gold Notes issued and outstanding. After this quarterly repayment, the aggregate principal amount of the Gold Notes as of April 30, 2021 will be reduced to US$29,750,000.

Early Optional Redemption of Gold Notes

Gran Colombia also announced today the details for the previously announced early optional redemption of US$10,000,000 aggregate principal amount of its Gold Notes as follows:

Payment date:May 10, 2021
Record date:May 3, 2021
Cash payment amount:Approximately US$0.35001680 per US$1.00 principal amount of Gold Notes issued and outstanding on the Record Date representing a redemption price of US$0.33613445 for each US$1.00 principal amount of the Gold Notes plus the Applicable Premium, as defined in the Gold Notes Indenture, of approximately US$0.01388235 per US$1.00 principal amount of Gold Notes. The aggregate amount of the cash payments on the Payment Date will be approximately US$10,413,000 of which US$10,000,000 will be applied to reduce the aggregate principal amount of the Gold Notes issued and outstanding and the balance represents the Applicable Premium.
Principal amount issued
and outstanding:
After this redemption, the aggregate principal amount of the Gold Notes will be reduced to US$19,750,000 as of May 10, 2021.

Monthly Dividend Declaration

Gran Colombia also announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on May 17, 2021 to shareholders of record as of the close of business on April 30, 2021.

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. Gran Colombia’s portfolio includes equity positions in several listed companies advancing gold and silver projects including a 44.3% equity interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato; Canada – Juby), an 18.2% equity interest in Gold X Mining Corp. (TSX-V: GLDX) (Guyana – Toroparu), a 27.3% equity interest in Denarius Silver Corp. (TSX-V: DSLV) (Colombia – Guia Antigua and Zancudo) and a 25.8% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to the repayments of its Gold Notes, payment of dividends and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated as of March 31, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com

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Cartier Signs Definitive Agreements with SOQUEM and Owns 100% of the Fenton Property

Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces the execution of a definitive agreements with SOQUEM Inc. (“SOQUEM”) in connection with the acquisition by Cartier of all the rights and interests of SOQUEM (i.e. 50%) in a group of 14 mining claims located 50 km southwest of Chapais in consideration for a purchase price of $700,000 payable as follows: (a) an amount of $300,000 in cash and (b) the issuance of 1,261,431 common shares of Cartier.

In addition, SOQUEM transferred to Cartier all of its rights and interests in a group of five (5) contiguous claims, which allows Cartier to hold 100% of an expanded property consisting of 18 mining claims (the “Fenton Property”). Cartier granted SOQUEM a 1% net smelter return (NSR) royalty on the Fenton Property, which can be bought back at any time by Cartier for an amount of $1,000,000 (the “Fenton Royalty”). Cartier has a right of first refusal with respect to any future disposition to a third party by SOQUEM of the Fenton Royalty, subject to certain exceptions. In addition, as part of this transaction, Cartier has agreed to transfer to SOQUEM all of its rights and interests in a group of 39 claims comprising the Cadillac Extension Property. SOQUEM granted Cartier a 1% NSR royalty on the Cadillac Extension Property, which may be bought back at any time by SOQUEM for a consideration of $1,000,000 (the “Cadillac Extension Royalty”). SOQUEM has a right of first refusal with respect to any future disposition to a third party by Cartier of the Cadillac Extension Royalty, subject to certain exceptions.

The closing of the transaction will be subject to various conditions, including the receipt by Cartier of the final approval from the TSX Venture Exchange.

Highlights of the Fenton Property:

  • The Fenton Property hosts the Fenton gold deposit (FIGURE).
  • This mineralization has all the typical characteristics sought by Cartier, as at the Chimo Mine and Benoist Projects that could rapidly outline high-tonnage mineralization.
  • The Fenton Property, which is easily accessible via forestry road, is located near the mills of the Langlois and Bachelor mines and the future mill of Osisko Mining’s Windfall Project.

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. A proud partner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.

About Cartier

Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec. This province has consistently ranked as one of the world’s best mining jurisdictions, primarily because of its favourable geology, attractive fiscal environment and pro-mining government.

  • The Company has a strong cash position with more than $10 million and a significant corporate and institutional endorsement, including Agnico Eagle Mines, Jupiter Asset Management and Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects with features that offer the potential for rapid growth.
  • The Company holds a portfolio of exploration projects in the Abitibi Greenstone Belt of Quebec, one of the world’s most prolific mining regions.
  • The Company’s focus is to advance its four key projects through drilling programs. All of the projects were acquired at reasonable costs in recent years and are drill-ready with targets along the geometric extensions of gold deposits.
  • Exploration work is currently focused on the Chimo Mine and Benoist properties to maximize value for investors.

Qualified Persons

The scientific and technical information on the Company in this news release was prepared and reviewed by Mr. Gaétan Lavallière, P.Geo., Ph.D, Cartier’s Vice-President, and Mr. Ronan Déroff, P.Geo, M.Sc., Senior Geologist, Project Manager and Geomatician, both qualified persons as defined in NI 43-101. Mr. Lavallière approved the information contained in this press release.

Cautionary Statement

Certain statements contained in this press release constitute forward-looking information under the provisions of Canadian securities laws including statements about the Company’s plans. Such statements are necessarily based upon a number of beliefs, assumptions, and opinions of management on the date the statements are made and are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change, except as required by law.

For more information, please contact:

Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

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Gran Colombia Reports First Quarter 2021 Gold Production

Gran Colombia Gold Corp. ( TSX:GCM;OTCQX: TPRFF) announced today that it produced a total of 18,643 ounces of gold at its Segovia Operations in March 2021 bringing the total gold production for the first quarter of 2021 to 49,058 ounces compared with 50,346 ounces in the first quarter of 2020. The Company also produced 57,315 ounces of silver in the first quarter of 2021, up from 45,918 ounces of silver in the first quarter last year.

Lombardo Paredes, Chief Executive Officer of Gran Colombia, commenting on the Company’s latest results, said, “We had a solid month in March, our second consecutive month above the 1,500 tpd level at our Maria Dama processing plant at our Segovia Operations. Based on our plan for the balance of the year, we remain on track to meet our production guidance for the full year of 200,000 to 220,000 ounces of gold. The expansion of Maria Dama to 2,000 tpd is proceeding well. This expansion includes a new blending yard and crushing system, a new Merrill Crowe system, additional thickeners and a second filter press at the El Chocho tailings storage facility, all of which are being added to the operation in stages over the balance of the year. In addition, the construction of the new polymetallic plant for recovery of zinc, lead, gold and silver from the tailings into concentrate at Segovia should be completed by mid-year and we expect to commence commissioning shortly thereafter.”

“In the first quarter of 2021, we used a portion of our free cash flow to fund the $7 million upfront cost related to the construction of the polymetallic plant at Segovia and another CA$10 million to maintain our equity interest in Denarius Silver Corp. at approximately 27% by participating in Denarius’ private placement to finance its acquisition and exploration of the Lomero Project in Spain. We also used approximately CA$4 million to fund the repurchases of 702,000 common shares under our NCIB in March for cancellation and a total of CA$2.8 million to pay our continuing monthly dividends to our shareholders. In the first quarter of 2021, we made the first of our income tax instalments in Colombia in the amount of approximately $8 million and we used approximately US$5 million toward our debt service on the Gold Notes and Convertible Debentures. At the end of March 2021, we had a cash position of approximately US$73.6 million and the aggregate principal amounts of our Gold Notes and Convertible Debentures outstanding were US$32.6 million and CA$20 million, respectively.”

The Segovia Operations processed an average of 1,565 tonnes per day (“tpd”) in March 2021, with an average head grade of 13.32 g/t. This brought the average for the first quarter of 2021 to 1,470 tpd of material processed at an average head grade of 12.83 g/t compared with 1,284 tpd at an average head grade of 14.87 g/t in the first quarter last year. Ongoing development activities within the Company’s four operating mines increased tonnes processed to an average of 1,200 tpd in the first quarter of 2021, up from 1,051 tpd in the first quarter last year. In addition, the Company processed 270 tpd of material in the first quarter of 2021 from the small mines operating under contract with the Company in the brownfield areas within the Segovia mining title, up from 233 tpd in the first quarter last year. The Company currently has 56 small mines under contract as part of its ESG initiatives.

Gran Colombia expects to release its first quarter 2021 financial results on or about May 13, 2021. Webcast details will be announced in early May.

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. Gran Colombia’s portfolio includes equity positions in several listed companies advancing gold and silver projects including a 44.3% equity interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato; Canada – Juby), an 18.2% equity interest in Gold X Mining Corp. (TSX-V: GLDX) (Guyana – Toroparu), a 27.3% equity interest in Denarius Silver Corp. (TSX-V: DSLV) (Colombia – Guia Antigua and Zancudo) and a 25.8% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to the continuation of operations during the COVID-19 situation, production guidance, payment of dividends, cash and debt balances and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated as of March 31, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com

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Stratabound Minerals: “How do we mine this?

Typically, an exploration company will hire an exploration geologist to run a greenfields program on prospective ground. This makes a lot of sense as exploration geologists serve what amounts to an apprenticeship learning how best to evaluate and de-risk a piece of ground. Stratabound Minerals (V.SB) went in another direction: their President and CEO, Kim Tyler has a wealth of experience as an “operating geologist”.

“I have had forty years in the industry,” said Tyler. At the Stratabound site his experience is detailed, “gold, base metals and industrial minerals with companies including Vale, Rio Tinto, Royal Oak Mines and Cominco Ltd. Mr. Tyler brings strong technical expertise that, besides mineral exploration, includes mine operations management experience in both open pit and underground mining operations.” Tyler also worked as a consultant with Dundee Precious Metals evaluating projects across North America.

Coming from an operations background, Tyler looks at results through the lens of “How to mine it?”. It is a lens which may help bring the Golden Culvert project in the south-east of the Yukon into focus.

Golden Culvert is twenty kilometres to the north of Seabridge Gold’s 3 Aces project along the Hyland Gold Belt. The location near 3 Aces is important as Stratabound sees similarities to the deposit at 3 Aces. The former operator of 3 Aces, Golden Predator, had a huge problem in actually figuring out the structure of the gold deposit it had found. There was gold everywhere and solid quartz veins with visible gold in them. But the gold showings did not give much information as to structure and resisted attempts to fit the deposit into the confines of a 43-101 resource estimate. Hundreds of holes were drilled, trenches cut, and samples taken. Bulk mining of quartz veins was successful, but Golden Predator was stymied and sold the project on to Seabridge.

“When you have been an operating geologist you have a different mindset,” said Tyler. “The idea is to focus on a small section to really understand it well, then extrapolate out from there.”

“At Golden Culvert we have many outcrops.  On my first site visit in 2016, I walked between two outcropping veins about 800m apart and sampled high-grade gold in both.  Since then, we have mapped numerous parallel veins in outcrops with gold-mineralized quartz veins well exposed,” said Tyler. “The gold in the veins and surrounding wall-rock mineralization is well controlled by multiple, parallel structures that follow the well-developed fabric of the regional geology.   This makes the work of interpreting the structure of the deposit relatively straight forward.  Our trenching and on-going drill results continue to hit the targets where predicted most every time and we are pleased to continue developing a very compelling interpretation.   We also have strong surface soil anomalies that mimic the controlling gold-bearing structures lying beneath.”  Soil sampling works extremely well in the Yukon because much of it was unglaciated during past ice ages that covered most of the rest of North America. What this means is that the soil samples reflect the rock directly underneath them as the soil was undisturbed.

To increase its understanding of the property, Stratabound began trenching and limited drilling in the 2018 season. In a 2018 release Tyler commented, “Besides the very large hydrothermal envelope that hosts and helps explain the large gold-in-soil anomaly, we have also confirmed a coincident large multi-quartz vein corridor that has proved to be much larger, more continuous and more extensive than first thought. The strongest gold mineralization indicated by the gold-in-soil anomaly is also visually coincident with strongly oxidized sulphide mineralization associated with the quartz veining in the corridor, all good indicators.”

2019 saw Stratabound do extensive trenching work within the “Main Discovery zone”. One trench returned “24.41 gpt Au over 6.0m including the highest gold assay received to date of 95.0 gpt Au over 1.5m on the new Mid-Vein.” As importantly, the trenching work revealed multiple other parallel quartz vein and breccia structures.

In 2020, the company also sampled rock in what is known as float trains – literally rocks and boulders and sub-outcrops running down the strike length of the property. Because the land was unglaciated, the mineralization in these float trains should reflect the mineralization of the underlying rock.  All of which set up the 2020 drilling program. 17 holes under the float trains.

The labs have been very backed up because of COVID-19 and it was not until January 12, 2021 that Stratabound was able to report the results from the first hole. “10.31 g/t Gold Over 1.6m with Visible Gold” is an excellent beginning. Additional holes were reported in February and March. In the March release the company summed up the results to date, “The finalized holes, together with 24 surface trenches reported in previous exploration programs, have intersected and outlined a 970-metre-long by 130-metre-wide mineralized corridor containing multiple parallel gold-bearing structures.”

On March 30, 2021 Stratabound reported the results from the final holes of the 2020 season. From that release, “All six holes intercepted gold-mineralized quartz vein and breccia structures yielding between 0.36 g/t Au over 12.1m in GC20-13 and 86.6 g/t Au over 0.6m in GC20-16 down-hole. Hole GC20-15 intercepted a high-grade interval of 10.2 g/t Au over 0.7m immediately in bedrock at 4.3m below the overburden surface.”

This season there will be more drilling at Golden Culvert. “We want to drill it off densely,” said Tyler. “We’ll focus on a small area and understand it.” For Tyler, “understanding it” really means, “how to mine it”. It is a different perspective and may be the key to success in the Hyland Gold Belt.

—-

Stratabound has other two properties in New Brunswick, on gold, the other copper/cobalt and we’re looking forward to looking at them in our next interview with Kim Tyler.

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Industrial Sorting Tests increase by 170 % the Grade of the Mineralisation of the Chimo Mine Property

Highlights :
  • The industrial sorting tests of mineralisation representative of the Chimo Mine project produced a concentrate representing by mass a bit more than 50 % of the original mass of the material with a percentage increase of 170 % of the gold content compared to the feed of the sorter;
  • The sorting tests carried out by Corem and by Steinert US are comparable and these result in positive conclusions which bode well for increasing the value of the resources with the mineralization sorting technology. The objective of the industrial sorting of the mineralization is to increase the grade of the preconcentrated material preceding the milling operations, which allows to:
    • Increase the recovery rate at the mill;
    • Reduce transport costs to the mill;
    • Reduce milling costs;
    • Reduce the costs of environmental restoration of mine tailings;
    • Reduce the environmental footprint of mine tailings and consequently increase the social acceptability of mining project.

VAL-D’OR, Quebec, April 08, 2021 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces the results industrial sorting tests of mineralisation representative for the Chimo Mine property, located 45 km east of Val-d’Or. The tests were carried out by two laboratories: Corem in Quebec (Canada) and Steinert US in Kentucky (USA).

Corem Sorting Tests :

Gold from the Mine Chimo property is present in two types of mineralised facies (FIGURE) either : i) quartz veins with coarse visible gold grains having an affinity for the gravity concentration of gold at the mill and ii) zones of silica-rich mafic rocks associated with non-refractory arsenopyrite having an affinity for the flotation of a concentrate of arsenopyrite for gold recovery at the mill. To perform the sorting tests, rocks representative of the 2 mineralised facies, made up of the following 6 mineralogical facies, were first selected for static recognition of each of the facies by the sensors of the sorter:

  • Gold-bearing quartz veins;
  • Gold-bearing silica;
  • High grade gold-bearing arsenopyrite;
  • Medium grade gold-bearing arsenopyrite;
  • Low grade gold-bearing arsenopyrite;
  • Mafic waste rock.

The detection sensors of the industrial sorter are the RGB camera using the optical properties of reflection, brightness and transparency to locate quartz and silica and the XRT sensor using the volumetric property of atomic density to locate arsenopyrite. The 2 sensors adequately recognizing the 6 mineralogical facies associated with the mineralisation, dynamic calibration tests of the sorter with the moving conveyor made it possible to sort, one at a time, 2 kg samples of each of the facies.

The sensor recognition tests having been successful, a calibration sample composed of a fraction of each of the mineralogical facies, was then constituted in order to verify the efficiency of the calibration of the sorter for the Chimo Mine project mineralisation. This sorting test is composed of a mixture of the 6 mineralogical facies, mentioned above, in proportions representative of the Chimo Mine project mineralisation. The results of this first test show that the first 3 sorts (on a total of 8 sorts) concentrated 99.1 % of the gold contained in 44.4 % by mass of material mass for a grade of 56.3 g/t Au representing a percentage increase of 223 % in gold content over sorter feed. The reject, representing 0.9 % by mass of material, contains only 0.40 g/t Au.

The sorter was then ready to perform sorting tests on the 105.7 kg production sample, representative of the mineralised facies at an average grade of 2.16 g/t Au. This content is obtained by including 20 % by mass of material with at zero grade of gold, simulating dilution in the stopes. Corem’s sorting plan separated 53.9 % by mass of the material in the form of a preconcentrate at an average grade of 3.68 g/t Au representing a percentage increase of 170 % in the gold grade compared to the sorter feed. The waste disposal, thus separated from the mineralisation, represents 46.1 % by mass of material at an average grade of 0.38 g/t Au.

Steinert US Sorting Tests :

Sorting tests, carried out with Steinert in Kentucky (USA), yielded comparable results. An 80.69 kg production sample, representative of the mineralised facies at an average grade of 2.13 g/t Au, to which 20 % by mass of material at zero grade of gold was added mathematically, representing the dilution in the workings, was used for testing. The new grade thus diluted is now 1.55 g/t Au. Calculation of the results reveals that 51.0 % by mass of the dilute grade material could be separated as a preconcentrate at an average grade of 2.72 g/t Au representing a 175 % increase in gold grade compared to the sorter feed. The waste disposal, which would thus be separated from the mineralisation, would represent 49.0 % by mass of material at an average grade of 0.36 g/t Au. Sorting tests with Corem were carried out following these tests to validate that the 20 % of dilution material at zero grade of gold, mathematically added, could physically be effectively separated by the sorter. The results obtained by Corem are positive and of the same order of magnitude as those of Steinert US.

Highlights of Chimo Mine Project

  • Recall that the third gold resource estimate* 1 made available on March 22, 2021 reported (FIGURE):
    • 6,616,000 tonnes at an average grade of 3.21 g/t Au for a total of 684,000 ounces of gold in the Indicated category and;
    • 15,240,000 tonnes at an average grade of 2.77 g/t Au for a total of 1,358,000 ounces of gold in the Inferred category.

*1 : Mineral Resource Estimate of the Chimo Mine property, Québec, Canada, Christine Beausoleil, P. Geo. InnovExplo Inc., March 22 2021.

  • Cartier holds a 100 % interest in the property for which a 1 % NSR (“Net Smelter Return”) royalty has been granted to IAMGOLD Corporation. There is no right of first refusal.
  • The property, accessible year-round, is located near 6 ore processing mills in the Val-d’Or area.
  • Fourteen gold zones were exploited by three producers between 1964 and 1997 for a production of 376,217 ounces of gold.
  • The mining infrastructure consists of a network of drifts over 7 km, distributed over 19 levels and connected by a 5.5 m x 1.8 m three-compartment shaft for a depth of 920 m. The headframe and surface installations were dismantled in 2008, but the 25 kV power line and sandpit are still in place.
  • The study on the hoisting capacities of the shaft of the Chimo Mine property reveals that the components of the internal structure of the shaft could allow hoisting with elongated 20 metric tons (mt) “skips”, 4,921 mt / day at the rate of 10 hours of hoisting operation per 24-hour day, i.e. 1.7 M mt / year. The hoisting capacity in 10 hours of operation / 24 hours, could be increased to 6,151 mt / day (2.2 M mt / year) with “skips” of 25 mt and to 7,381 mt / day (2.6 M mt / year) with “skips” of 30 tm; all mainly by replacing the guides in place with steel guides.
  • Cartier’s drilling to date on the Chimo Mine Property consists of 124 holes totalling 58,054 m and 21,867 samples collected for gold analysis.

About Cartier

Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec. This province has consistently ranked as one of the world’s best mining jurisdictions, primarily because of its favourable geology, attractive fiscal environment and pro-mining government.

  • The Company has a strong cash position with more than $10.4 million and a significant corporate and institutional endorsement, including Agnico Eagle Mines, Jupiter Asset Management and Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects with features that offer the potential for rapid growth.
  • The Company holds a portfolio of exploration projects in the Abitibi Greenstone Belt of Quebec, one of the world’s most prolific mining regions.
  • The Company’s focus is to advance its four key projects through drilling programs. All of the projects were acquired at reasonable costs in recent years and are drill-ready with targets along the geometric extensions of gold deposits.
  • Exploration work is currently focused on the Chimo Mine and Benoist properties to maximize value for investors. Future exploration work is planned on the Fenton and Wilson properties.

Quality Assurance / Quality Control

The analytical results, from Cartier drill holes, were obtained from NQ-caliber core samples crushed up to 80 % passing a 10 mesh (2.00 mm) mesh then pulverized up to 90 % passing a mesh of 200 mesh (0.07 mm). Cartier inserts 5 % of the number of samples as certified standards and another 5 % as sterile samples to ensure quality control. Samples are analyzed at Techni-Lab (Actlabs), located in Ste-Germaine-Boulé, Quebec. The 50 g pulps are analyzed by fire assay and read by atomic absorption. If i) the result is ≥ 1.0 g/t and <10.0 g/t, a second pulp is analyzed and read by atomic absorption and if ii) the result ≥ 10.0 g/t, the second measurement is performed by gravimetry. For samples containing visible gold, 500 g of rock pulverized up to 90 % passing a 140 mesh (0.11 mm) mesh is analyzed by the ” Metallic Sieve ” method.

Qualified Persons

The scientific and technical information on the Company and the Chimo Mine Project in this news release was prepared and reviewed by Mr. Gaétan Lavallière, P. Geo., Ph. D, Cartier’s Vice- President, and Mr. Ronan Déroff, P. Geo, M. Sc., Cartier’s Senior Geologist, Project Manager and Geomatician, both qualified persons as defined in NI 43-101. Mr. Lavallière approved the information contained in this press release.

About Corem

Corem is a center of expertise in research and innovation, established in Quebec, which specializes in the processing of minerals. Using its state-of-the-art facilities, Corem has, for more than 20 years, offered services in the optimization of grinding circuits, physical separation (gravimetric, magnetic and electrostatic), flotation, physico-chemical techniques of extractive metallurgy and recovery of metals, mineralogical characterization as well as agglomeration and thermal treatment processes of ores.

For more information, contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

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Stratabound Announces Commencement of Trading on U.S. OTCQB Market

Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) (“Stratabound” or the “Company”) is pleased to announce it has qualified for and has commenced trading of its common shares on the OTCQB Venture Market in the United States under the symbol “SBMIF”. The Company’s continued listing on the TSXV under the “SB” symbol is now further enhanced by the visibility and larger global presence through ease of access to U.S. investors.

Mr. R. Kim Tyler, President and CEO of Stratabound, commented, “In response to requests from U.S. investors along with the considerable recent trading volume exceeding 1.8M shares on the U.S. OTC Pink market since July 2020 we were pleased to have taken this important market exposure upgrade. We look forward to more U.S. investor participation in the future of our Company.”

About the OTCQB

OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. The OTCQB offers early stage and developing U.S. and international companies the benefits of being publicly traded in the U.S. The OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation. U.S. investors can find current financial disclosure and Real-Time level 2 quotes for the Company on www.otcmarkets.com.

About Stratabound Minerals Corp.

Stratabound Minerals Corp. is a well-funded Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its new McIntyre Brook Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.

For more information, please visit the company’s website at www.stratabound.ca or contact: R. Kim Tyler, President and CEO 416-915-4157 info@stratabound.com

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

WARNING: The Company relies upon litigation protection for “forward-looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

info

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Etruscus Outlines Prospective “Red Line” in Large Mineralized “Lightning Strike” Corridor at Rock & Roll

Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the “Company” or “Etruscus”) is pleased to announce the emergence of a 10 km by 2 km highly prospective corridor known as “Lightning Strike” in the northwest portion of its expanded Rock & Roll claims, 13 km northwest of the Company’s Black Dog VMS deposit.

Located on the western side of the Eskay Camp north of the Snip mine, the Lightning Strike Corridor (the “Corridor”) has strong potential to host various styles of high-grade precious metal mineralization. Plans are now underway to launch a major follow-up prospecting campaign covering the area, commencing this quarter, ahead of summer drilling focused on confirming a new discovery in a district known for its world class metal endowment.

  • Lightning Strike’s Upper Stuhini-Lower Hazelton geology has potential to host both VMS and epithermal mineralization;
  • Recent geological mapping has projected the “Red Line” unconformity directly through the 10 km x 2 km Lightning Strike Corridor (Click Here to View Map);
  • Multiple high-grade veining systems discovered throughout the Corridor appear to show epithermal mineralization similar to Pretium’s Brucejack deposit;
  • Many high-grade grab samples* including 25 g/t gold and 332 g/t silver at Heather Vein and 7,013 g/t silver and 12.7 g/t gold at Thunderstruck;
  • Two newly-discovered large conductive targets along the mineralized Hurricane Zone could represent another lens in the Black Dog VMS system; and
  • Major glacial retreat, since the most recent historic work 38 years ago, has revealed large areas of prospective red line stratigraphy. One glacier in the Corridor has retreated over 2 kilometers since 1962.

(* Grab samples are selectively collected and are therefore not representative of all mineralization hosted on the property.)

Hurricane/Thunderstruck Targets

Multiple geological factors have aligned to give rise to two immediate high priority areas along the Lightning Strike Corridor: The Hurricane and Thunderstruck targets (refer to January 13, 2021, and January 19, 2021, news releases). Geological mapping in 2020 led by Jim Logan, who has over 30 years of B.C. Geological Survey experience in the Golden Triangle, shows that both targets are situated near the “Red Line” Stuhini-Hazelton unconformity. The Red Line, a key time horizon closely related to most major deposits in the Golden Triangle, is very prominent within a major mineralized trend that goes through the majority of Etruscus’ properties (Click Here to View Map).

Significant glacial retreat has occurred since the last historic work in 1983, opening up the majority of this highly prospective Corridor that has never been systematically explored. During the past two years, Etruscus has embarked on preliminary exploration programs to determine the potential of the area. Initial geophysical, geochemical and geological data supports the Company’s thesis that the package of rocks found along the 10 km length holds potential to host high-grade mineralization in multiple areas, setting up the Corridor to be a key part of 2021 exploration.

Spring/Summer Plans

The Etruscus 2021 exploration season will be kicked off this quarter when “Operation Lightning Strike commences with ground truthing across multiple areas of interest in this Corridor. A major program of mapping, prospecting and significant rock sampling will be implemented as soon as ground conditions allow. Systematic sampling of the entire Corridor will generate a clear understanding of the economic potential this prospective and recently unglaciated terrain holds. Starting low down in the valleys, the exploration team will explore near the receding glaciers before working upwards to identify the source of mineralization.  Teams will also follow up on over 20 areas of interest highlighted from last year’s VTEM© survey, most of which have not seen any historic work.  Pursuant to results, collars will be finalized for summer drilling.

Gordon Lam, CEO and President, comments on the Lightning Strike Corridor, “The aggregate results generated from work in 2019 and 2020 have thus far exceeded our expectations of the expanded claims at Rock & Roll. Highly encouraging geophysical, geochemical and sampling results indicate multiple mineralizing events occurred in this area. This Corridor holds excellent potential to host any of the high-grade Golden Triangle deposit types; a continuation of the Black Dog VMS system, intrusion-related gold veins similar to the Snip Mine, epithermal veining similar to Pretium’s Brucejack mine (Click Here to View Image), and the younger Hazelton stratigraphy above the red-line contact opens up potential for Eskay Creek style mineralization. Regardless of the deposit model to be determined, we are excited to further follow up this new, unexplored and highly prospective area in 2021.”

Qualified Person

Technical aspects of this news release have been reviewed and approved by James Moors, P.Geo., who is a Qualified Person as defined under National Instrument 43-101.

About Etruscus

Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development of its 100%-owned Rock & Roll and Sugar properties comprising 27,880 hectares near the past producing Snip mine in Northwest B.C.’s prolific Golden Triangle.

Etruscus is traded under the symbol “ETR” on the Canadian Securities Exchange, “ETRUF” on the OTC and “ERR” on the Frankfurt Stock Exchange and has 28,514,306 common shares issued and outstanding.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute ‘forward-looking’ statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management’s Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

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

SOURCE Etruscus Resources Corp.

For further information: Investor Relations Contact: Derek Wood, Email: dwood@conduitir.com, Telephone: 403-668-7855; Company Contact: Gordon Lam, CEO, Email: info@etruscusresources.com, Telephone: 604-336-9088, Website: www.etruscusresources.com

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First Mining Enters into Partnership to Advance Hope Brook Gold Project in Newfoundland

First Mining Gold Corp. (“First Mining” or the “Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce it has entered into a definitive agreement (the “Agreement”) with Big Ridge Gold Corp. (“Big Ridge”) (TSX-V:BRAU) whereby Big Ridge may earn up to an 80% interest in First Mining’s Hope Brook Gold Project (“Hope Brook” or the “Project”) located in Newfoundland, Canada (the “Transaction”).

Pursuant to the definitive earn-in agreement, Big Ridge can earn an 80% interest in the Project through a two-stage earn-in over five years by incurring a total of $20 million in qualifying expenditures, issuing up to 36.5 million shares of Big Ridge to First Mining and making a cash payment to First Mining.  First Mining will retain a 1.5% net smelter returns (“NSR”) royalty on the Project, of which 0.5% can be bought back by Big Ridge for $2 million.  First Mining will also have the right to nominate one member to the Board of Directors of Big Ridge (the “Big Ridge Board”) on Closing, and thereafter First Mining will be entitled to have one of its nominees on the Big Ridge Board for so long as First Mining owns at least 10% of the issued and outstanding shares of Big Ridge.  A more detailed summary of the earn-in arrangement is set out further below in this news release.

“We are extremely pleased to announce this partnership to advance our Hope Brook project, located in one of the most exciting exploration regions in the gold industry today,” stated Dan Wilton, CEO of First Mining.  “The team at Big Ridge brings a unique combination of complementary experiences and skill sets to Hope Brook, including a strong understanding of the operating environment in Newfoundland, robust exploration, development and operational expertise, and deep capital markets experience and relationships.  We are excited to work with Big Ridge as they unlock value in Hope Brook and the surrounding highly prospective land package.  Following the recent success from our partnership with Auteco Minerals on the Pickle Crow Gold Project, we believe this Transaction will further demonstrate the tangible value in our portfolio of assets and will allow First Mining to continue to focus on de-risking, enhancing and advancing our flagship Springpole Gold Project in Ontario, where our recent PFS outlined the potential to produce more than 300,000 oz gold per year at an industry-leading cost profile.  First Mining shareholders will retain significant exposure to Hope Brook through an initial 19% equity stake in Big Ridge, a retained 20% project interest at Hope Brook, milestone share and cash payments and an NSR royalty on the Project.”

First Mining continues to execute on its strategy to advance and surface value from its portfolio of gold projects in a timely manner through carefully selected partnerships. These partnerships allow our shareholders to benefit from the tangible value that is unlocked as these projects advance, while at the same time building a highly attractive royalty portfolio for First Mining.

About Big Ridge

Big Ridge is a well-capitalized, Canadian-focused gold exploration and development company led by Michael Bandrowski as President & CEO, a former mining capital markets executive, and Jim Kirke as CFO, former CFO of Marathon Gold.  The Board of Directors is comprised of a highly successful group of experienced mining executives and geologists: Nick Tintor (founder of Anaconda Mining), Bill Williams (former Interim CEO of Detour Gold) and Rick Mazur (CEO of Forum Energy).  Big Ridge has $2.7 million in cash and recently optioned its Destiny gold project to Clarity Gold, which has the potential to provide significant capital to fund work programs at Hope Brook.

Hope Brook Gold Project

The Hope Brook Gold Project is a past-producing gold operation located in southwestern Newfoundland.  Discovered in 1983 by BP-Selco Inc., it was Newfoundland’s first major gold producer and remains one of the largest historical gold mines in the province to date.  From 1987 to 1997, Hope Brook produced more than 752,000 oz of gold plus a copper concentrate from 1993 to 1997.  There remains significant infrastructure in place originally used to support previous mining activities including a transmission line with functional power to site, intact roads, tailings ponds, camp facilities and a gravel airstrip.  The property consists of 1,066 claims covering more than 26,000 hectares held under six licenses.  First Mining acquired Hope Brook in July 2015 through its acquisition of Coastal Gold Corp.

Earn-In Details:

On Closing

First Mining will receive from Big Ridge:

  • $500,000 cash
  • 11,500,000 shares of Big Ridge, representing 19.8% of Big Ridge’s outstanding shares.

Stage 1 Earn-In

Up until the third anniversary of the Closing date, Big Ridge can acquire a 51% interest in Hope Brook and form a joint venture with First Mining by:

  • Spending $10,000,000 in qualifying expenditures on the Project;
  • Issuing an additional 15,000,000 shares of Big Ridge to First Mining; and
  • Issuing to First Mining a 1.5% NSR royalty on the Project; Big Ridge can buy-back 0.5% of the NSR royalty for $2 million.

Stage 2 Earn-In

Following the completion of the Stage 1 Earn-in and up until the fifth anniversary of the Closing date, Big Ridge can increase its ownership in Hope Brook to 80% by:

  • Spending an additional $10,000,000 in qualifying expenditures on Hope Brook; and
  • Issuing to First Mining the lesser of i) 10,000,000 shares of Big Ridge; and ii) such number of Big Ridge shares that would result in First Mining owning 19.9% of Big Ridge’s outstanding shares.

Additional Terms

  • First Mining will have the right to nominate one member to the Big Ridge Board at Closing, and will continue to have the right to have a nominee of First Mining serve on the Big Ridge Board for so long as First Mining owns at least 10% of Big Ridge’s outstanding shares.
  • First Mining will be free carried to a feasibility study.
  • Upon the commencement of commercial production at Hope Brook, Big Ridge will pay $2 million cash to First Mining.

The Transaction is subject to customary closing conditions for a transaction of this nature, including the receipt by Big Ridge of the approval of the TSX Venture Exchange, and is expected to close in Q2 2021 (“Closing”).

First Mining Royalty Portfolio

With the addition of the 1.5% NSR Hope Brook royalty, First Mining has continued to accumulate a portfolio of royalties on advanced, high-quality assets.  These assets include a 1.5% NSR royalty on Goldlund being advanced by Treasury Metals Inc., 2.0% NSR royalty on Pickle Crow being advanced by Auteco Minerals Ltd., and 15 other early stage NSR royalties located in Mexicothe United StatesCanada and Africa.

Hope Brook Mineral Resource Estimate (3.00 g/t Au cut-off grade)

Category

Tonnes

Grade Au (g/t)

Contained Au (oz)

Indicated

5,500,000

4.77

844,000

Inferred

836,000

4.11

110,000

Notes:

1.

Based on the technical report titled “2015 Mineral Resource Estimate Technical Report Hope Brook Gold Project Newfoundland and Labrador Canada – Dated November 20, 2015”, effective Date is November 20, 2015, which is available at www.sedar.com under First Mining’s SEDAR profile.

2.

Resource includes only the Mine Zone and 240 Zone areas.

3.

Resource is based on the partial percentage block model with dike material removed. Dike percentage is estimated at 18% for the Mine Zone and 0% for the 240 Zone.

4.

The gold grades reflect applications of domain-specific raw assay capping factors that range between 55 g/t and 3 g/t Au.

5.

The rounding of tonnes may result in apparent differences between tonnes, grade and contained ounces.

6.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental permitting, legal, title, taxation, socio-political, marketing or other relevant issues.

Qualified Person
Hazel Mullin, P.Geo., Director, Data Management and Technical Services of First Mining, is a “Qualified Person” for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), and she has reviewed and approved the scientific and technical disclosure contained in this news release.

About First Mining Gold Corp.
First Mining is a Canadian gold developer focused on the development and permitting of the Springpole Gold Project in north-western Ontario. Springpole is one of the largest undeveloped gold projects in Canada. The results of a positive Pre-Feasibility Study for the Springpole Gold Project were announced by First Mining in January 2021, and permitting activities are on-going with submission of an Environmental Impact Statement for the project targeted for 2021. The Company also holds a large equity position in Treasury Metals Inc. who are advancing the Goliath-Goldlund gold projects towards construction. First Mining’s portfolio of gold projects in eastern Canada also includes the Pickle Crow (being advanced in partnership with Auteco Minerals Ltd.), Cameron, Hope Brook, DuparquetDuquesne, and Pitt gold projects.

First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic Silver Corp.

ON BEHALF OF FIRST MINING GOLD CORP.
Daniel W. Wilton
Chief Executive Officer and Director

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “plans”, “projects”, “intends”, “estimates”, “envisages”, “potential”, “possible”, “strategy”, “goals”, “objectives”, or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions. 

Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the expectation that the transaction will close in Q2 2021; (ii) any stock exchange or regulatory approvals in respect of the Transaction; (iii) completion and timing of any cash and share payments set out in the earn-in agreement that the Company has signed with Big Ridge; (iv) completion and timing of all earn-in stages under the earn-in agreement; (v) the grant and timing of a 1.5% NSR to First Mining over Hope Brook; (vi) completion and timing of all exploration expenditures required under the earn-in agreement; (vii) the duration of First Mining’s right to have one of its nominees serve on the Big Ridge Board; and (viii) timing for the formation of a joint venture between First Mining and Big Ridge with respect to Hope Brook. All forward-looking statements are based on First Mining’s or its consultants’ current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: regulatory approvals; the presence of and continuity of metals at Hope Brook; success in realizing proposed drilling programs; the Company’s business, operations and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises, such as COVID-19, and by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises, such as COVID-19, that may result in a slowdown or temporary suspension of operations at some or all of the Company’s mineral properties as well as its head office; fluctuations in the spot and forward price of gold, silver, base metals or certain other commodities; fluctuations in the currency markets (such as the Canadian dollar versus the U.S. dollar or Australian dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration and exploration drilling programs, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities, indigenous populations and other stakeholders; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; title to properties; and the additional risks described in the Company’s Annual Information Form for the year ended December 31, 2020 filed with the Canadian securities regulatory authorities under the Company’s SEDAR profile at www.sedar.com, and in the Company’s Annual Report on Form 40-F filed with the SEC on EDGAR. 

First Mining cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to First Mining, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. First Mining does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law. 

Cautionary Note to United States Investors 
This news release has been prepared in accordance with the requirements of Canadian securities laws, which differ in certain material respects from the disclosure requirements of United States securities laws. The terms “mineral reserve”, “proven mineral reserve” and “probable mineral reserve” are Canadian mining terms as defined in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) 2014 Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time. These definitions differ from the definitions in the United States Securities and Exchange Commission (the “SEC”) rules applicable to domestic United States companies. In addition, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined under the 2014 CIM definition standards, and are required to be disclosed by NI 43-101. However, these terms are not defined under the SEC rules applicable to domestic United States companies. Accordingly, information concerning mineral deposits set forth in this news release may not be comparable with information made public by companies that report in accordance with U.S. standards.

SOURCE First Mining Gold Corp.

For further information: Janet Meiklejohn, Vice President, Investor Relations, Direct: +1 604 639 8825, Toll Free: 1 844 306 8827, Email: info@firstmininggold.com; www.firstmininggold.com

Related Links

https://firstmininggold.com/

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Tocvan Samples 4.5 g/t Au and 735 g/t Ag in channel sample at New Triple Vein Zone. Sampling at 4 Trench Extension returns 19.9 g/t Au in channel sample

Tocvan Ventures Corp. (CSE: TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to report results from surface exploration at its flagship Pilar Gold-Silver Project. The aim of the program was to advance key targets with no previous mapping or detailed sampling to drill ready status for a Phase II drill program scheduled to begin in April. A total of 207 rock chip samples were collected covering the entire property (Figure 1). Sampling at the new Triple Vein Zone target has returned anomalous values over a 400-meter strike length, highlighted by 4.5 g/t Au with 735 g/t Ag and 4.3 g/t Au with 96 g/t Ag. Sampling along the 4 Trench Extension returned anomalous values over a 600-meter trend highlighted by 19.9 g/t Au with 8 g/t Ag and 5.1 g/t Au with 142 g/t Ag.

 

Highlights from Surface Sampling:

 

Triple Vein Zone

  • – 4.5 g/t Au and 735 g/t Ag, channel sample of quartz vein in previously unmapped artisanal working

    – 8.0 g/t Au and 8 g/t Ag, channel sample of oxidized brecciated andesite

    – 4.3 g/t Au and 96 g/t Ag, channel sample of oxidized brecciated andesite

    – 5.1 g/t Au and 24 g/t Ag, channel sample of vein in previously unmapped artisanal working

    – 2.8 g/t Au and 15 g/t Ag, channel sample of silicified brecciated andesite 3-meters thick

4-Trench Extension

  • – 19.9 g/t Au and 8 g/t Ag, channel sample, andesite dyke with quartz

    – 5.1 g/t Au and 142 g/t Ag, grab float sample along vein strike

    – 3.7 g/t Au and 62 g/t Ag, grab float sample along vein strike

    – 3.4 g/t Au and 28 g/t Ag, channel sample of oxidized quartz vein

    – 1.9 g/t Au and 178 g/t Ag, channel sample of oxidized quartz vein

*All samples are rock channel or grab samples . Grab samples are selective and may not represent mineralization over wider intervals.

 

“The results released today confirm the new vein corridors recently identified by mapping are mineralized and carry similar grade to our Main Zone,” commented VP Exploration, Brodie Sutherland. “Our next phase of drilling will begin later this month. Not only do we have follow-up work to continue at our Main Zone with the recent surface exploration results we have no shortage of targets to test, especially along the 4 Trench Extension and the new Triple Vein Zone.”

 


Click Image To View Full Size

 

Figure 1. 3D Target Map of Pilar Gold-Silver Project. Veins are outlined in red. Outside of the Main Zone the majority of the project area has not been drill tested.

 

About the Pilar Property

The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite and rhyolite rocks. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4 Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 19,200 m of drilling have been completed to date. Significant results are highlighted below:

  • – 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
    • – 94.6m @ 1.6 g/t Au, including 1.5 m @ 9.2m @ 10.8 g/t Au and 38 g/t Ag;

      – 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;

      – 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag

    – 17,700m of Historic Core & RC drilling. Highlights include:

    • – 61.0m @ 0.8 g/t Au

      – 16.5m @ 53.5g/t Au and 53 g/t Ag

      – 13.0m @ 9.6 g/t Au

      – 9.0m @ 10.2 g/t Au and 46 g/t Ag

Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone and 4-Trench Zone. Recent Surface exploration has defined three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.

Brodie A. Sutherland, P.Geo., VP Exploration for Tocvan Ventures Corp. and a qualified person (“QP”) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

 

Sampling Methods

Samples collected are of rock grab and rock chips, grab samples are selective and not necessarily representative of the mineralization over wider widths. Rock samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish.

 

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan currently has approximately 27 million outstanding and is earning into two exciting opportunities. The Pilar Gold-Silver project in Sonora, Mexico and the Rogers Creek Copper project in southern British Columbia, management feels both projects represent tremendous opportunity to create shareholder value.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

TOCVAN VENTURES CORP.

Derek A. Wood, President and CEO

Suite 1150 Iveagh House,

707 – 7th Avenue SW

Calgary, Alberta T2P 3H6

Telephone: (403) 200-3569

Email:  dwood@tocvan.ca

 

Cautionary Statement Regarding Forward Looking Statements

 

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

 

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

 

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

 

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

 

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Gran Colombia Update and Outlook

 

Gran Colombia (T.GCM) published its quarterly and annual update on its gold mining operations in Columbia.

Key take aways:

  • The company is profitable, “Free Cash Flow amounted to $73.6 million, up 19% over 2019.”
  • The company is exploring and adding to reserves, “The Company expects to carry out approximately 60,000 meters of drilling in 2021, of which approximately 40,000 meters will continue to focus on step-out and infill drilling in proximity to the Company’s four mining operations and approximately 20,000 meters will be dedicated to exploration on the high priority brownfield targets in the Segovia mining title.”
  • The company has cash: “balance sheet remained solid with total cash of $122.5 million at the end of 2020, including $33.0 million in Aris, and a 48% reduction in 2020 in the aggregate principal amount of Gold Notes outstanding to $35.5 million at the end of the year.”
  • The company provided production guidance: “200,000 and 220,000 ounces of gold” in 2021

As well as producing and exploring for more gold on its property, Gran Colombia is building a new recovery plant at Segovia that will come on stream later this year and allow it to recover commercial quantities of zinc, lead, gold and silver into concentrate from its tailings.

Gran Colombia is paying down debt, paying a small dividend to its shareholders and optimizing operations. It is profitable at present gold prices but would be very profitable indeed if gold hit $1900. Well worth a look

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