With the explosive growth of the electric vehicle market and the global push for sustainability, demand for battery metals is skyrocketing. This has created significant upside potential for exploration, particularly where copper and nickel are concerned.
Miramar Resources (ASX:M2R) intends to leverage that potential to the fullest. Led by an experienced board with a proven track record of successful exploration, discovery, development and production, the company has acquired multiple projects with the potential to host world-class mineral deposits. These discovery opportunities lie in Western Australia's Eastern Goldfields and Gascoyne regions, including the Capricorn Orogen, a rapidly emerging yet largely underexplored mineral province.
Proterozoic orogens are well-established as hosting major mineral deposits. Capricorn is no exception. It's highly prospective for multiple commodities and deposit types.
Recognizing this opportunity, Miramar has acquired two large and highly prospective landholdings within the Capricorn Orogen: the Whaleshark copper-gold project and the Bangemall nickel-copper-PGE projects. In addition to these, Miramar maintains two gold projects in the Eastern Goldfields, one of which — Gidji JV — has the potential to become a new gold camp in the region.
Miramar's strategy is simple — to create shareholder value through the discovery of world-class mineral deposits. It's well-positioned to do exactly that, with active exploration programs, a tight share register and low enterprise value.
Located roughly 40 kilometres east of Onslow in the Ashburton region of Western Australia, Whaleshark. It was acquired by Miramar as part of its initial public offering in 2020.
Miramar secured $180,000 under the Exploration Incentive Scheme (EIS) funding program from the Western Australia Government to fund diamond drilling and project development at Whaleshark. Assay results from the diamond drilling confirmed the presence of bedrock copper sulphide mineralisation at Whaleshark and the company also identified the potential for very large magnetite iron deposits near existing infrastructure.
Miramar has several granted and pending exploration licences in its district-scale Bangemall project which are prospective for Proterozoic magmatic Ni-Cu-PGE mineralisation associated with 1070Ma Kulkatharra Dolerite sills which are the same age as the Giles Complex, host to the large Nebo and Babel Ni-Cu deposits in the West Musgraves of WA.
Both the Geological Survey of Western Australia and Geoscience Australia have identified the area as being highly prospective for numerous types of mineral deposits.
Since 2020, Miramar has built a strategic land position in the Bangemall region, focusing on areas containing key ingredients and/or regional-scale indicators for Norilsk-style Ni-Cu-PGE mineralisation:
The company’s Mount Vernon project is a high priority. In early 2022, Miramar flew a detailed magnetic and electromagnetic survey over the Mount Vernon project, identifying multiple late-time anomalies potentially related to nickel-copper-PGE sulphide mineralisation. A ground EM is underway and RC drilling is planned for Mount Vernon targets.
Located roughly 15 kilometres north of Kalgoorlie, Gidji is a highly prospective yet underexplored gold project with potential nickel mineralisation. Miramar has been actively exploring the project since October 2020, resulting in the identification of several new targets and outlining large aircore gold anomalies at Marylebone, Blackfriars and Highway/Piccadilly, each of which could host a significant gold discovery. The Marylebone target is the highest priority target as it has the same geology, structural setting and scale as the 4-Moz Paddington gold deposit which is also located in the ‘Boorara Shear Zone’ to the north and where Miramar discovered high-grade gold in a quartz vein. At the Marylebone target alone, Miramar has outlined a large shallow gold “exploration target” of 1.4 to 3.2 million tons (Mt) @ 1.2 to 1.5 grams per ton (g/t) gold. The company believes Gidji has the potential to become a new gold camp.
Situated 40 kilometres east of the Kalgoorlie Gold Field, Miramar's 100-percent-owned Glandore project displays the potential for significant high-grade gold mineralisation. Previous exploration of the project area identified a large aircore gold footprint along with significant gold anomalism. Diamond drilling in 2005 returned results that included 4 metres @ 44.3 g/t gold.
In 2022, Miramar completed a diamond drilling program at the high-grade “Glandore East’ target, at the edge of the salt lake, with results returning high-grade gold mineralisation and visible gold. Multiple parallel mineralised structures have been outlined beneath a very large aircore gold footprint and bedrock gold mineralisation is present over 600 metres of strike and open. A UAV magnetic survey identified multiple northeast-trending structures. More surveys are planned to further refine and assist in targeting.
Allan Kelly is a geologist and manager with over 30 years’ experience in mineral exploration, development and production throughout Australia and the Americas. Kelly graduated in 1994 with a Bachelor of Science (with honors) in applied geology from Curtin University. He has been involved in targeting early-stage exploration of gold, nickel and copper deposits in Australia, Alaska and Canada, and has previously held senior exploration positions at Western Mining Corporation and Avoca Resources.
In 2009, he founded Doray Minerals, which was listed on the ASX in early 2010. Under Kelly's management, Doray discovered the high-grade Wilber Lode gold deposit within the Andy Well Project in the Murchison Region of Western Australia, which moved from discovery to production within three and a half years. He subsequently funded, constructed and commissioned the Deflector gold-copper project within 14 months of completing the takeover of Mutiny Gold in 2014.
In 2014, Kelly was awarded the Association of Mining and Exploration Companies (AMEC) ‘Prospector Award’, along with Doray’s co-founder Heath Hellewell, for the discovery of the Wilber Lode and Andy Well gold deposits. He is a fellow and former councilor of the Association of Applied Geochemistry (AAG), a member of the Australian Institute of Geoscientists (AIG), and a member of the Institute of Brewing and Distilling (IBD).
Marion Bush is a geologist with over 25 years’ experience in senior management, directorship, commercial management, analyst and marketing roles within the UK, Australia, Africa and South America. She was the former CEO of TSX-V listed Cassidy Gold and a former mining analyst.
Bush holds a Bachelor of Science (geology) from Curtin University, a Master of Science (mineral project appraisal) from the University of London (Imperial College) and is a member of the AIG.
Terry Gadenne has over 30 years’ experience in military and civilian aviation, agriculture and mining management. He was the chief pilot of Mackay Helicopters and managing director of Mining Logic, located in Queensland. Throughout his career, Gadenne has had various board positions in not-for-profit organisations.
He holds a Bachelor of Aviation Studies (management) from the University of Western Sydney, completed the Company Directors Course with AICD and was a former army and navy pilot.
Mindy Ku has over 15 years' international experience in financial analysis, financial reporting, management accounting, compliance reporting, board reporting, company secretarial services and office management across multiple jurisdictions (Australia, Malaysia, UK, Sweden and Norway) including ASX-listed public and private companies.
Ku holds a Bachelor of Science in computing from the University of Greenwich, United Kingdom, is a member of Certified Practising Accountant Australia and a fellow member of the Governance Institute of Australia.
"Well mineralized and highly prospective for exploration success, Woodjam remains our highest priority project," commented Steve Blower, Vice President of Exploration. "I'm looking forward to evaluating all of the target areas, especially Three Firs, as this is our first opportunity to expand the wide-open mineralization there."
The ProgramHigh priority targets will be evaluated in 3 areas – the Deerhorn deposit, the Three Firs zone and the Southeast deposit (Figure 2). At the Deerhorn copper-gold deposit, at least two drill holes will evaluate the potential to expand the higher-grade southern gold-rich portion of the deposit (Figure 3). At the copper-gold Three Firs zone, one drill hole will evaluate potential extensions to the southwest of the zone and another will evaluate a large circular magnetic anomaly northwest of the zone (Figure 4). Finally, drilling at the large Southeast copper deposit will attempt to expand the area of higher-grade gold mineralization along the south end of the deposit (Figure 5).
Approximately 3,600m of drilling is planned in 9 drill holes – some of which will be completed on the contiguous Redgold property. More information on the Redgold portion of the drilling program will follow as targets are finalized. The program will take approximately 6 to 8 weeks to complete. Samples will be submitted for assay regularly through the program, and analytical results will be disclosed in due course.
Figure 2 – Target Area Locations
Figure 3 – Deerhorn Deposit Target Area (Grade Shells at 810masl)
Figure 4 – Three Firs Zone Target Area (Grade Shells at 800masl)
Figure 5 – Southeast Deposit Target Area (Grade Shells at 790masl)
About Vizsla Copper
Vizsla Copper is a Cu-Au-Mo focused mineral exploration and development company headquartered in Vancouver, Canada. The Company is primarily focused on its flagship Woodjam project, located within the prolific Quesnel Terrane, 55 kilometers east of the community of Williams Lake, British Columbia. It has three additional copper properties: Poplar, Copperview, and Redgold, all well situated amongst significant infrastructure in British Columbia. The Company's growth strategy is focused on the exploration and development of its copper properties within its portfolio in addition to value accretive acquisitions. Vizsla Copper's vision is to be a responsible copper explorer and developer in the stable mining jurisdiction of British Columbia, Canada and it is committed to socially responsible exploration and development, working safely, ethically and with integrity.
Vizsla Copper is a spin-out of Vizsla Silver (TSX.V: VZLA) (NYSE: VZLA) and is backed by Inventa Capital Corp., a premier investment group founded in 2017 with the goal of discovering and funding opportunities in the resource sector. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.vizslacopper.com).
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Ian Borg, P.Geo., Senior Geologist for Vizsla Copper. Mr. Borg is a Qualified Person as defined under the terms of National Instrument 43-101.
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.
FORWARD LOOKING STATEMENTS
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, 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, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or 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" or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to: obtaining required regulator approvals for the Copperview Acquisition and the RG Copper Acquisition; satisfying the requirements of the Underlying Option Agreement; the exploration and development of the Woodjam Project, Redgold Project and Copperview Project; and the Company's growth and business strategies.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
Click here to connect with Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0), to receive an Investor Presentation
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") is pleased to announce that it has initiated diamond drilling on its 100% owned Aberdeen Project (Figure 1). Forum plans on drilling approximately 10,000 metres (25-30 drill holes) largely within the Tatiggaq anomaly, as well as drill approximately 10 drill holes on other highly prospective areas - the Ned, Bjorn, and Qavvik targets.
HIGHLIGHTS
Dr. Rebecca Hunter, Forum's VP, Exploration stated, "I am very excited to be launching the first large-scale uranium exploration program in the Thelon Basin since 2012. We have numerous high-priority targets to test this summer that have globally significant deposit potential."
The current understanding of uranium mineralization within the Tatiggaq deposit consists of two zones - the Main and West Zones - and is located at depths between 80 and 180 m. The mineralization is hosted in a series of high-grade subparallel, steep, south-dipping fault zones that sit within a 50 m wide area (Figure 2). Targeting in 2024 is focusing on extending the Tatiggaq West and Main zones and evaluating the mineralization potential along trend within the 0.7 km wide by 1.5 km long Tatiggaq gravity anomaly (Figure 3). Forum has 3D modelled several ENE-trending, subvertical faults, using the ANT data, including the uranium-hosting Tatiggaq Fault, and are using the fault traces, and areas of abrupt velocity contrast to refine drill targeting. The ANT data is being used to refine targeting at the Ned and Bjorn grids, which has allowed for modelling the Thelon sandstone - basement contact, as well as possible zones of fault development and hydrothermal alteration.
Rebecca Hunter, Ph.D., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano's uranium deposits are along the same controlling structures as Forum's Tatiggaq deposit and over 20 other targets are present within the project, which could host additional uranium deposits similar to the Athabasca Basin.
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Figure 2 The Tatiggaq Main and West zones are interpreted to be a series of near vertical, uranium- bearing lenses that trend for 1.5 km. The width of the mineralized section is interpreted to be approximately 50 m but its total width is not yet determined. TAT23-002 only intersected two of these lenses that were intersected in near vertical holes by Cameco's previous drilling (for example 0.85% over 13.7m in hole TUR14A). Proposed future drill holes will target mineralization to intersect the true width of the zone and its strike extent.
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Figure 3 Tatiggaq gravity anomaly and 2023 drill holes. 2024 targeting will focus expanding the known uranium mineralization to the west-southwest and the east-northeast along the Tatiggaq Fault. The modelled sub-parallel east-northeast-trending faults will also be targeted.
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About Forum Energy Metals
Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.
This press release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
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.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214272
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Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces that, further to its news release of June 3, 2024, it has completed its private placement offering of units priced at $0.135 per unit. The Company received subscriptions for a total of 7,084,000 units for total proceeds of $956,343 which included insiders subscribing for 780,000 units or $105,300. The Company anticipates formal closing of the offering later this week. Net proceeds will be used for general working capital.
About Forum Energy Metals
Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
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.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
Not for distribution to United States Newswire Services or for dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214233
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