
April 27, 2022
Corazon takes full control of the Miriam Nickel Sulphide Project
Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce it has further progressed its rights to acquire 100% of the Miriam Nickel Sulphide Project (Miriam or Project) near Coolgardie in Western Australia’s Goldfields minerals district.
Previously, the Company announced it had entered into an agreement with Limelight Industries Pty Ltd (Vendor) to acquire 100% of the Miriam Project (ASX announcements 26 July and 15 October 2021); the Company is now pleased to advise it has successfully completed Stage 2 of the acquisition. Corazon will acquire a 100% interest in the Project (and take control and management of the Project) in consideration of the payment to the Vendors of $400,000 and a 2% net smelter return royalty, pursuant to the Option Agreement, details of which are included in this ASX announcement.
The completion of Stage 2 sees Corazon being entitled to 100% of the Project and taking sole control and management of the Project, on behalf of all parties, with the Vendor retaining the right to mine mullock dumps (for gold mineralisation) and to metal detect on the area for the first three (3) years post grant of the relevant tenure.
Miriam is a highly prospective nickel exploration project that represents a strategic addition to Corazon’s portfolio of nickel sulphide assets. The Project is located approximately 10 kilometres south-southwest of Coolgardie on an ultramafic trend, which also hosts Auroch Minerals’ (ASX: AOU) Nepean Nickel Deposit.
Corazon is enthusiastic about the Project’s exploration potential. Drilling undertaken predominantly in the 1960s and 1970s at the Miriam Nickel Deposit intersected ‘high nickel tenor’ massive and disseminated sulphides. Corazon has highlighted extensions to areas of known mineralisation as the initial priority exploration focus.
Highlights
- Stage 2 in the acquisiton process for the Miriam Nickel Sulphide Project has been completed
- Corazon has assumed sole management of the Project and is progressing the grant of tenure as a priority
- Work programs under development will focus on modern, high-powered geophysics to test areas of known mineralisation for follow-up drilling
About the Miriam Project
The Miriam Project is located approximately 10 kilometres south-southwest of Coolgardie on a trend of ultramafics best identified by the Miriam and Nepean nickel deposits (Auroch Minerals, ASX: AOU).
The Miriam Project covers an area of about 6 kilometres by 1.5 kilometers and comprises five Prospecting Licence applications (P15/6135 to P15/6139 inclusive).
In 1969, Anaconda Australia Limited discovered the Miriam Deposit, located within the Project, and conducted most of the known nickel exploration during the late 1960s and early 1970s. This work defined the core of the Miriam Deposit over a strike of about 150 meters and to a depth of at least 150 metres below surface. In places, subsequent drilling extended the drilled depth to about 300 metres below surface.
Referenced open-file documents (ASX announcement, 26 July 2021) detailing historical work defines a nickel-copper endowment for the Miriam Deposit. This work is not compliant with current JORC standards, and further drilling is required for the definition of a JORC resource estimate at Miriam.
Much of the historical drilling, which tested the ultramafic sequence north and south of the Miriam Deposit, was shallow percussion drilling that did not penetrate the overlying oxidised zone, and many of the holes did not reached the ultramafic footwall target. There is extensive untested opportunity to target nickel sulphide mineralisation at depth and along strike from previous drilling.
Click here for the full ASX Release
This article includes content from OCorazon Mining Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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12 February
Corazon Mining
Investor Insight
Corazon Mining Ltd. presents a distinctive investment case, enhanced by their shift towards high-grade base and precious metals. Spotlighting the MacBride Project reflects Corazon’s growing demand for copper, zincand gold, while concurrently maintaining the Lynn Lake project as a significant, strategic nickel asset for the future.
Overview
Corazon Mining Ltd. (ASX:CZN) is an Australian junior exploration company focused on unlocking value in high-quality copper, zinc, gold and nickel projects in Canada and Australia.
While nickel remains a critical battery metal, Corazon sees the immediate opportunity in the broader base and precious metals sector and is concentrating its resources on the newly acquired MacBride base and precious metals project located in the Lynn Lake District in Manitoba, Canada.
The market for critical minerals is evolving, with investors looking for high-value projects in secure, first world regions. Corazon is strategically placed to capitalize on rising demand for battery and base metals, as global supply chains seek to secure stable sources of copper, zinc and nickel. With significant exploration potential, high-quality assets and a strong management team, Corazon is positioned to deliver shareholder value through discovery and project development.
Company Highlights
- Corazon’s exploration focus is on its recently acquired MacBride Project, which has proven prospectivity for high-grade copper-zinc-gold-silver.
- MacBride is located in the Lynn Lake District of Manitoba, Canada, where Corazon also owns 100 percent of the entire historic Lynn Lake nickel-copper-cobalt sulphide camp.
- Lynn Lake provides a unique opportunity for the creation of a large-scale, polymetallic-processing hub, with established beneficial infrastructure, including low-cost renewable hydroelectric power.
- Corazon’s assets are positioned in a historically productive district, where large-scale deposits have been previously mined. MacBride’s proximity to other major deposits supports its potential for a new, large-scale discovery.
- With a small market cap and large, high-quality assets, Corazon offers a compelling investment opportunity. Though its nickel sulphide resources rival those of larger competitors, Corazon remains significantly underappreciated in the market.
- Lynn Lake’s location in a mining-friendly jurisdiction, with access to hydroelectric power, road and rail infrastructure, enhances project economics and accelerates development timelines.
Key Projects
MacBride Project (Flagship)
Corazon’s newest acquisition, the MacBride project is the company’s primary focus due to its high-grade, near-surface mineralisation. The project holds drill-defined, high-grade copper-zinc-gold deposits, with multiple geophysical anomalies that indicate significant exploration upside.
Project Highlights:
- Historical High-grade Deposits: Previous drilling has defined a historical metal endowment over an approximately 230 metres strike, largely down to about 200 metres depth. While not yet JORC-compliant, the historic endowment indicates strong mineralisation potential and establishes the MacBride deposit as a priority target for additional resource definition drilling.
- District-scale Potential: MacBride sits within a region that has historically produced world-class base and precious metal deposits. The presence of multiple mineralised zones within the project area indicates the potential for a significant new discovery.
- Exploration Upside: Extensive recently completed geophysical surveys have identified multiple conductive bodies (anomalies) on trend with known deposits sulphide deposits. Corazon’s ongoing work will focus on drill testing these targets, with the goal of establishing a camp of base and precious metal massive sulphide deposits at MacBride.
- Strategic Location: Located just 60 kilometres from Lynn Lake, MacBride benefits from the infrastructure and logistical advantages of the established mining district.
Lynn Lake Project – A Strategic Nickel Asset
Lynn Lake continues to stand as a valuable nickel-copper-cobalt sulphide project, offering strategic, long-term benefits.
Project Highlights:
- JORC-compliant Resource: Lynn Lake holds one of the largest nickel sulphide resources in Canada, with 116,000 tons of nickel metal, along with copper and cobalt.
- Future Development Potential: While market conditions for nickel are currently challenging, the project represents a significant long-term strategic asset that can be activated when demand increases.
- Infrastructure and Support: Lynn Lake is fully permitted and benefits from access to hydroelectric power, a mining-friendly jurisdiction, and existing road and rail networks.
Development Plans
The MacBride Project is an exciting exploration play. The outcropping high-grade MacBride massive sulphide deposit is on trend from multiple priority un-tested conductive bodies.
Corazon is committed to advancing the MacBride project and solidifying its position as a leading high-grade base and precious metals exploration company. Corazon’s forward-looking plans include:
- Expanding Exploration at MacBride: Corazon plans to conduct additional geophysical surveys and drilling campaigns to further define the scale and grade of mineralisation.
- Testing Priority Drill Targets: Several high-priority geophysical anomalies will be drill-tested, building on the existing resource base and potentially uncovering new deposits.
- Optimising Lynn Lake’s Value: While exploration at MacBride remains the primary focus, Corazon will continue to evaluate strategic opportunities for its Lynn Lake project, including potential partnerships and project financing to bring the asset closer to development.
- Engaging with Strategic Investors: Corazon is actively seeking investment and funding opportunities to accelerate exploration and development activities. The company is open to joint ventures geared towards fast-tracking the advancement of its projects.
- Enhancing Market Positioning: By continuing to demonstrate the significant value of its assets, Corazon aims to improve its market perception and increase shareholder returns.
Management Team
Brett S. Smith – Executive Managing Director
Brett Smith has been with Corazon since 2011, bringing over 35 years of experience in exploration and corporate management. He has a robust track record in advancing mining projects from exploration through to development.
Kristie Young – Interim Chairperson
Appointed in September 2023, Kristie Young is a mining engineer with extensive experience in project evaluation, business development and corporate governance. She has held various leadership roles across the mining sector.
Dr. Mark Yumin Qiu – Non-executive Director
Serving on the board since 2017, Dr. Mark Yumin Qiu has been instrumental in project generation and corporate transactions, including the $2.5 billion sale of Sino Gold to Eldorado Gold.
Andrew Strickland – Non-executive Director
Appointed in September 2023, Andrew Strickland brings experience in project development, mergers and acquisitions, and strategic partnerships within the mining industry.
Robert Orr – Company Secretary and Chief Financial Officer
Robert Orr manages Corazon's financial operations and corporate governance, ensuring compliance and effective financial management.
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Base and precious metals development in the historic Lynn Lake mining district of Manitoba, Canada.
13 February
Corazon Mining: Base and Precious Metals Development in the Historic Lynn Lake Mining District
Corazon Mining (ASX:CZN) unlocks value in high-quality base and precious metals projects in Canada and Australia. Focusing on the MacBride Project reflects Corazon’s growing demand for copper, zincand gold, while concurrently maintaining the Lynn Lake project as a significant, strategic nickel asset for the future.
The MacBride project is Corazon Mining's recent acquisition exemplifying high-grade, near-surface mineralisation. MacBride holds drill-defined, high-grade copper-zinc-gold deposits, with multiple geophysical anomalies that indicate significant exploration upside.
Located just 60 kilometres from Lynn Lake, MacBride benefits from the infrastructure and logistical advantages of the established mining district. Corazon’s ongoing work will focus on drill testing these targets, to establish a camp of base and precious metal massive sulphide deposits at MacBride.
Company Highlights
- Corazon’s exploration focus is on its recently acquired MacBride Project, which has proven prospectivity for high-grade copper-zinc-gold-silver.
- MacBride is located in the Lynn Lake District of Manitoba, Canada, where Corazon also owns 100 percent of the entire historic Lynn Lake nickel-copper-cobalt sulphide camp.
- Lynn Lake provides a unique opportunity for the creation of a large-scale, polymetallic-processing hub, with established beneficial infrastructure, including low-cost renewable hydroelectric power.
- Corazon’s assets are positioned in a historically productive district, where large-scale deposits have been previously mined. MacBride’s proximity to other major deposits supports its potential for a new, large-scale discovery.
- With a small market cap and large, high-quality assets, Corazon offers a compelling investment opportunity. Though its nickel sulphide resources rival those of larger competitors, Corazon remains significantly underappreciated in the market.
- Lynn Lake’s location in a mining-friendly jurisdiction, with access to hydroelectric power, road and rail infrastructure, enhances project economics and accelerates development timelines.
This Corazon Mining profile is part of a paid investor education campaign.*
Click here to connect with Corazon Mining (ASX:CZN) to receive an Investor Presentation
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10 December 2024
Strategic Expansion of MacBride Base & Precious Metal Project in Canada
Acquired ground more than doubles Corazon’s prospective landholding / Aerial geophyical survey extended to test new tenure / Work underway defining priority targets for early 2025 drill program
Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce the strategic expansion of its MacBride Base and Precious Metals Project (MacBride or Project) in the Lynn Lake district, of Manitoba, Canada.
KEY HIGHLIGHTS
- Corazon has secured additional ground at the MacBride Base and Precious Metals Project in Canada’s Lynn Lake district
- MacBride Project now covers a 14-kilometre strike of stratigraphy prospective for Cu-Zn-Au-Ag massive sulphide deposits, including the drill-defined outcropping MacBride and Wellmet deposits
- High-grade gold assays from historical sampling (up to 25.9g/t Au in grab samples) within the new ground further highlights the region’s prospectivity for orogenic gold deposits
- An aerial VTEM geophysical survey is currently underway
- Previous VTEM survey effectively defined a conductor coincident with the MacBride Deposit, as well as multiple untested, high-priority conductors undercover on trend
- The new VTEM survey provides greater coverage of the MacBride Project, including the first-time survey of the Wellmet Cu-Au and Zn-Cu-Au trends
- Results from the new VTEM survey are expected to be available in the coming weeks and will be used in targeting drilling for early 2025
- The MacBride Project is an exciting exploration opportunity and will be a major focus of Corazon’s ongoing Lynn Lake region exploration activities
The Company has physically staked and made applications for new Mining Claims that increases the MacBride project area from ~26km2 to ~56km2, covering a contiguous
~14km strike length of the prospective MacBride/Wellmet trend (Figure 1). The new Claims are pending grant by the Manitoba Provincial Government.
The new area hosts several prospects identified by historical exploration, including results as high as 25.9 g/t Au in grab sampling at Prospect Area F (Figure 1).
Exploration at MacBride between the 1940’s and early 1990’s defined the MacBride and Wellmet copper-zinc-gold- silver deposits and established the fertility of the region. The only recent exploration was a 2008 aerial VTEM (versatile time domain electromagnetic) survey, which identified the MacBride deposit as a conductor, along with multiple high-order conductive bodies, undercover along trend (ASX announcement 7 October 2024). These conductive bodies are yet to be followed up with drilling.
The MacBride Project is a major focus of Corazon’s Lynn Lake region exploration activities. The effectiveness of past geophysical VTEM surveys in defining drill-defined massive sulphide mineralisation has resulted in extending coverage over a larger part of the project area. The geophysical conductors defined from this work will be the priority focus for first pass drilling currently proposed for early 2025.
The MacBride Project expansion further enhances Corazon’s position as a significant landholder and active explorer- developer in the Lynn Lake district, which also hosts the Company’s 100% owned, flagship Lynn Lake Nickel-Copper- Cobalt Sulphide Project.
Click here for the full ASX Release
This article includes content from Corazon Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here
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13 July 2022
Lynn Lake Nickel Sulphide Project Update
Significant progress made on exploration drilling, metallurgical testwork and defining additional resources within the Lynn Lake Mining Centre
Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to provide an update on activities at its flagship project, the 100%-owned Lynn Lake Nickel-Copper- Cobalt Sulphide Project (Lynn Lake or Project) in the province of Manitoba, Canada.
Key Highlights
- Exploration drilling continuing at Fraser Lake Complex testing geophysical anomalies within the Motriuk ultramafic intrusion - encouraging nickel and copper sulphide mineralisation intersected
- New detailed geological modelling underway at the Lynn Lake Mining Centre to identify additional near surface resource potential not included in previous resource estimates or mining studies
- Metallurgical testwork on lower-grade mineralisation from the mining centre is underway – incorporating innovative “ore-sorting” technology as an upgrading option
Corazon’s ongoing focus is the pursuit of the potential redevelopment of Lynn Lake’s historical nickel sulphide Mining Centre towards production, and the targeted exploration for new nickel-copper-cobalt sulphide deposits within the Project area.
At the Mining Centre, the Company is assessing the potential to benefit from the extensive low-grade sulphide mineralisation surrounding known deposits and identifying relatively untested extensions to the current resources (within the upper levels of the mine surrounds).
Metallurgical testwork on lower grade material is currently underway and new 3D models of structure, rock type and geophysical surveys for the A-Plug Mining Centre (Figure 1) are being utilised to define potential areas for exploration and resource definition drilling.
Exploration drilling is ongoing at the Fraser Lake Complex (FLC) (Figure 1), testing geophysical targets (ASX announcement 11 April 2022). Encouraging nickel and copper sulphide mineralisation has been intersected at the Motriuk intrusion (ASX announcement 7 June 2022). The existence of visible pentlandite (nickel sulphide) in blebs and the potential for these sulphides to accumulate at depth, provide a compelling target for the drilling currently in progress.
Figure 1 – Lynn Lake Project - MobileMT survey magnetic susceptibility inversion depth slice at 50m below surface - over a GeoTem total-field regional aeromagnetic image, with the area of the gravity high target outlined.
Fraser Lake Complex Exploration Drilling
Exploration drilling at the Fraser Lake Complex is continuing, following early encouraging results from drilling at the Motriuk Ultramafic (ASX announcement 7 June 2022).
Progress of the drilling has been slow, with the drilling contractor needing to revert to one shift per day, due to the limited availability of personnel. This is an industry-wide issue due to both the effects of the Covid-19 pandemic and the seasonal demands for exploration personnel.
Currently, there is a 10-day scheduled break in drilling, which is due to recommence on the 22nd of July 2022. With an all-inclusive per-metre rate for this drilling program, Corazon bears no additional cost for drilling down-time or slow meterage.
In mid-June 2022, senior Company personnel traveled to site to review the progress of the drilling, including the sulphides intersected at Motriuk (ASX announcement 7 June 2022). While the amount of sulphide mineralisation reported was low (typically 1-5% of volume) and as such the expectations for the nickel content is also low, the existence of visible pentlandite is very encouraging. The Motriuk Complex historically has been considered nickel-deficient compared to the average for such ultramafic rock (pyroxenites and peridotites). It is assumed the nickel was extracted from the melt as sulphide (pentlandite) during the magma’s transportation to Motriuk, or in-situ.
The Motriuk Ultramafic body is “keel-like” in shape, with a base that has been defined by geophysics. The current drilling is targeting the base of this intrusion, which has a dense and magnetic geophysical signature.
Updates regarding this drilling will be provided in due course.
Click here for the full ASX release
This article includes content from Corazon Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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12 July 2022
Porphyry Copper Target Identified at Mt Gilmore Project
Innovative geochemical studies undertaken by the University of Tasmania uncovers new targets with signatures similar to known large deposits and provides a focus for ongoing exploration in New South Wales
Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce the identification of a new target area for a potential porphyry copper deposit at the Mt Gilmore Project (Mt Gilmore or Project) in New South Wales (NSW).
Key Highlights
- Initial mineral vectoring geochemical studies have been completed by CODES at the University of Tasmania on rock and drill core samples collected from the Mt Gilmore Project
- The studies show the Mt Gilmore Cu-Au-Co trend has a complex hydrothermal history and geochemical characteristics particular to known large porphyry Cu deposits
- Results are extremely encouraging – additional mineral studies and geophysics will assist the definition of targets expected to be easily testable with drilling.
The new porphyry copper target area has been generated from initial results of a mineral chemistry vectoring study conducted by the University of Tasmania. Based on the positive results of this work, Corazon plans to undertake a new phase of targeted fieldwork at the Mt Gilmore Project.
Corazon's Mt Gilmore Project is located within the New England Orogen of northeastern NSW (Figure 1). Geochemical and geophysical surveys completed by Corazon at Mt Gilmore have indicated the potential for concealed intrusion related or porphyry copper-gold hydrothermal systems. However, identifying precise drill targets has been difficult due to the size of the geochemical anomalies (i.e. main target area of ~8km x 2km – Figure 2), poor surface exposure and lack of historical drilling.
In recent years, significant research has been devoted to mineral chemistry studies to assist in the exploration for blind mineral deposits. Work by the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania has included porphyry vectoring and fertility tools (PVFTs), which use the chemical compositions of hydrothermal minerals to predict the likely direction and distance to mineralised centres, and the potential metal endowment of a mineral district.
Such studies completed by CODES on samples from Mt Gilmore have delivered exceptional early results, supporting the Project’s prospectivity and strong porphyry copper potential.
Figure 1 – Mt Gilmore Project Location
Rationale for Mineral Chemistry Vectoring Studies
Exploration by Corazon at the Mt Gilmore Project has identified a very large copper-cobalt-gold-silver soil geochemical anomaly over the full 22-kilometre strike of exposed basement rocks (Figure 2). This soil geochemical anomalism is supported by high-grade rock-chip samples from outcrops throughout the Project (ASX announcement 5 February 2019).
Reconnaissance induced polarisation (IP) geophysical surveys over the three main anomalies at Gordonbrook Hill, Lantana and May Queen (Figure 2) (ASX announcement 23 July 2019) identified chargeability anomalism at all prospects. Subsequent drilling of the Gordonbrook Hill IP anomaly (ASX announcement 16 June 2021) supported that, despite no strong sulphide mineralisation being identified, the IP method was a very good mapper of alteration. The detail provided by the drilling contributed to conflicting models for the potential style of mineralisation at Gordonbrook Hill.
Advances in the understanding of using mineral chemistry to identify and vector towards porphyry related hydrothermal deposits, including successful case studies, provided the opportunity for Corazon to potentially:
- Define the type of hydrothermal system(s) present at Mt Gilmore and their occurrence in time (relative to other geological features);
- Define the possible size and fertility of any the mineralised system(s); and
- Identify the location(s) in three-dimensions of the heat source that caused the hydrothermal mineralisation.
Rock chip and drill core samples from the May Queen, Gordonbrook Hill and Cobalt Ridge prospects (Figure 2) were submitted to CODES for testwork, sampling a variety of mineralisation/alteration styles over a strike of ~16km within the Mt Gilmore Trend.
Figure 2 – Mt Gilmore Project interpreted geology with a copper in soils geochemical image over the sedimentary/volcaniclastic basement rocks, with mineral occurrences and prospect locations.
Click here for the full ASX release
This article includes content from Corazon Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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02 March 2022
Placement And Rights Issue To Accelerate Nickel Exploration And Development Work
Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to announce it has received a firm commitment for a placement to raise $2,040,671, at $0.04/share, from Blackstone Minerals Limited (“Blackstone”) (ASX:BSX) (“Placement”).
Highlights
- Corazon has received a firm commitment for a placement from Blackstone Minerals Limited(ASX:BSX) to raise approximately $2m -at above market share price of $0.04/share
- In addition, the Company is proposing to offer shareholders a non-renounceable entitlement offer, on a one-for-one basis at $0.03 per share, to raise up to$10.7m
- Corazon welcomes Blackstone as a cornerstone investor and acknowledges its support, along with major shareholder Delphi, of the Company’s nickel focus
- Funds raised will provide a substantial capital injection to enable Corazon to accelerate exploration and development at its nickel sulphide projects in Canada and Australia
- Drilling is planned to recommence at the Lynn Lake Project in Canada this month in parallel with ongoing mining and processing studies
The Company is also offering eligible shareholders the opportunity to acquire new shares at $0.03/share through a one (1) for one (1) non-renounceable pro-rata rights issue to raise approximately $10.7 million (before costs), if fully subscribed (“Entitlement Offer” or “Offer”).
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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14 March
Top 5 Canadian Mining Stocks This Week: Noble Mineral Exploration Gains 114 Percent on Nickel Assays
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
This week, the US Bureau of Labor Statistics released key inflation data, including its consumer and producer price index data on Wednesday (March 12) and Thursday (March 13). The reports show all items inflation was up 2.8 percent year-over-year in February, while core inflation — all items minus food and energy — was up 3.1 percent over that period. Both rose by 0.2 percent compared to January.
The numbers show that inflation has largely become stuck and is still far from the 2 percent target rate set by the US Federal Reserve. The data provides further insight into the health of the overall economy ahead of the Federal Open Market Committee meeting next week. The consensus among analysts is the Fed will choose to maintain its benchmark rate at 4.25 to 5 percent.
Trade tensions between the US and Canada also continued to rise during the week as the US escalated its trade threats against its key trading partners in North America and Europe.
On Tuesday (March 11), temperatures came close to boiling over as Ontario Premier Doug Ford applied a 25 percent surcharge to electricity exports destined for the US and US President Donald Trump threatened to raise incoming 25 percent tariffs on steel and aluminum imports to 50 percent on Canada in response.
However, Ford agreed to suspend the surcharges after US Commerce Secretary Howard Lutnick invited Ford and federal officials to a face-to-face meeting in Washington, DC, on Thursday to discuss the trade situation.
According to Ford, the Thursday meeting was productive and has helped lower some of the tension between Canada and the United States. The two groups are scheduled to meet again next week. Both sides hope that the temperature will be dialed back and trade can begin to normalize between the long-time trade allies.
On Wednesday, US President Trump maintained his decision to apply a blanket 25 percent tariff on all incoming steel and aluminum imports, but did not raise Canada’s to 50 percent. The move will still broadly affect the Canadian industrial sector, which remains the largest exporter of steel and aluminum products to the United States.
Canada responded to the move with tariffs on US$20 billion worth of goods, while the European Union hit back with tariffs on US$28 billion worth of goods.
On Thursday, the president also issued a fresh round of tariff threats aimed at Europe, including a 200 percent tax on alcohol. Trump’s comments came after the EU applied a 50 percent charge on incoming alcohol from the US.
In addition to tariff news, the Trump administration announced plans to roll back 31 environmental policies on Wednesday. The changes by the Environmental Protection Agency include broad loosening or elimination of pollution-related regulations, such as emissions rules for power plants and automobiles that require them to use cleaner forms of energy, and regulations on soot, mercury and coal ash pollution.
The agency is also considering striking down key findings about climate pollution, effectively ending the EPA’s ability to manage climate change.
Markets and commodities react
In Canada, markets were mixed but more positive than those in the US. The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 1.56 percent during the week to close at 621.08 on Friday (March 14), the S&P/TSX Composite Index (INDEXTSI:OSPTX) lost 0.16 percent to 24,556.38 and the CSE Composite Index (CSE:CSECOMP) dropped 1.55 percent to 123.76.
US equity markets were broadly down again this week. The S&P 500 (INDEXSP:INX) lost 1.16 percent to close the week at 5,638.93 and the Nasdaq 100 (INDEXNASDAQ:NDX) fell 0.59 percent to 19,715.71. The Dow Jones Industrial Average (INDEXDJX:.DJI) fell the most, slipping another 2.4 percent to 41,488.18.
Gold broke the US$3,000 mark for the first time in early morning trading Friday, briefly going to US$3,004 before pulling back. Silver also moved above the US$34 mark early Friday for the first time since October 2024. Overall, the gold price gained 2.48 percent over the week to US$2,983.09 per ounce at 4:00 p.m. EST Friday. The silver price rose even more, adding 3.52 percent during the period to US$33.66.
In base metals, the copper price was up 3.61 percent on the week, closing out Friday at US$4.88 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was flat, gaining just 0.06 percent to close at 551.68.
Top Canadian mining stocks this week
So how did mining stocks perform against this backdrop?
We break down this week’s five best-performing Canadian mining stocks below.
Data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.
1. Noble Mineral Exploration (TSXV:NOB)
Weekly gain: 114.29 percent
Market cap: C$16.61 million
Share price: C$0.075
Noble Mineral Exploration is an exploration and development company that uses a project generator model to build a portfolio of base and precious metals projects, royalties and partnerships.
Noble owns a 20 percent stake in the Mann nickel-cobalt project in Ontario, Canada, a joint venture with Canada Nickel (TSXV:CNC,OTCQX:CNIKF). The property is located near Timmins and hosts four primary targets: Mann North, West, Central and South. In addition to nickel and cobalt, the site also hosts some platinum, chromium and iron mineralization.
On February 24, the company announced that it had finalized an agreement with Canada Nickel to spin off the Mann project into a new subsidiary under Canada Nickel named East Timmins Nickel, which also holds Canada Nickel’s projects in the region. The subsidiary will be a 20/80 joint venture between Noble and Canada Nickel. Noble said that consolidating the properties into a separate company would maximize its value without significant dilution to Noble
Under the deal, Noble also transferred its interest in its Project 81 properties in Northern Ontario to Canada Nickel, retaining a royalty.
Most recently, Noble and Canada Nickel reported successful exploration results from the Mann property on Thursday, including the highest grades yet from the Mann West target. A highlighted assay from the deposit returned 0.27 percent nickel over 452 meters, which included intersections with 0.4 percent over 18 meters and 0.63 percent over 4.5 meters.
Canada Nickel CEO Mark Selby said the targets at Mann “each have a footprint larger than the company’s flagship Crawford Nickel Sulphide Project, underscoring the large-scale potential of the Timmins Nickel District.”
2. Homeland Nickel (TSXV:SHL)
Weekly gain: 100 percent
Market cap: C$11.15 million
Share price: C$0.05
Homeland Nickel is an exploration company working to advance projects in the US and Canada.
The company owns four nickel projects in Oregon: Cleopatra, Red Flat, Eight Dollar Mountain and Shamrock. The projects are in the early exploration stage, with the company being guided by historic work at each property.
Homeland is also working on the Spruce Ridge project in Newfoundland and Labrador, a 30/70 joint venture with Benton Resources (TSXV:BEX,OTC Pink:BNTRF), which earned its stake in the property through an earn-in agreement with Homeland in July 2024.
While the company did not release any news, its shares gained this week following Noble Mineral Exploration and Canada Nickel’s announcement on Thursday of positive assay results from their joint venture Mann nickel project in Ontario. Homeland owns 2.95 million shares in Canada Nickel and 9.96 million shares of Noble.
3. Brunswick Exploration (TSXV:BRW)
Weekly gain: 74.07 percent
Market cap: C$49.07 million
Share price: C$0.235
Brunswick Exploration is a lithium-focused grassroots exploration company working to advance its assets in Canada and Greenland.
The company owns the Mirage lithium project in the Eeyou Istchee James Bay region of Québec, Canada, as well as several exploration licenses in Greenland, with hundreds of staked and untested targets across the island.
The company announced on Thursday that it has identified new high-potential lithium targets and applied for a mineral license to cover them. Named Hinksland, the license covers a five-block claim located near the country’s northeast coast. The company has mapped 50 interpreted outcrops at Hinksland, nine of which are between 500 and 10,000 feet of strike.
Brunswick said it intends to visit the region in 2025. In the release, the company also said it expects first results from its ongoing drill program at Mirage will be released in the next few weeks.
4. Bayhorse Silver (TSXV:BHS)
Weekly gain: 50 percent
Market cap: C$18.4 million
Share price: C$0.06
Bayhorse Silver is a silver-focused company currently working to bring the Bayhorse silver, copper and antimony mine in Oregon, US, back online.
The mine was originally in operation until late 1984 and closed when the price of silver dropped to under US$6 per ounce. Historic sampling during the 1980s identified grades of 2,146 grams per metric ton (g/t) silver, and a bulk sampling program conducted by Bayhorse in 2014 found bonanza grades of 150,370 g/t silver.
The company has continued to explore the property and, in October 2018, produced a maiden resource estimate that showed the property hosts inferred resources of 6.33 million ounces of silver from 292,300 US tons of ore with an average grade of 21.65 ounces per US ton.
The most recent update came on March 4, when Bayhorse announced it had received assay results from the first 115 meters of the silicified breccia zone encountered in a drill hole used to test an anomaly at the mine. The company said that the 115 meter intersection showed continuous copper up to 125 parts per million (ppm), zinc up to 695 ppm and intermittent gold up to 0.023 ppm.
The company also shared preliminary IP survey results from the project.
Bayhorse CEO Graeme O’Neill commented that he was encouraged by the results and they may indicate the presence of massive sulfides and copper porphyry. The company said it is waiting on results from a further 112 meters of samples from the brecciation zone.
5. Pacific Booker Minerals (TSXV:BKM)
Weekly gain: 43.86 percent
Market cap: C$12.11 million
Share price: C$0.82
Pacific Booker Minerals is an exploration and development company focused on its Morrison property, located in Central British Columbia, Canada. The site is in the advanced stages of development and hosts copper, gold and molybdenum mineralization. The company has been working on development plans since 2004, and completed a feasibility study in 2009. However, work hasn’t been able to proceed as it needs approval from the nearby Lake Babine Nation.
In May 2024, Pacific Booker announced it would be seeking legal recourse after communications between itself and Lake Babine Nation broke down. The company indicated it had received a memorandum of understanding from Lake Babine Nation in 2012, but legal counsel for the nation has refuted that the understanding was in existence and an environmental assessment certificate for Morrison was refused in 2012.
Shares of Pacific Booker saw gains this week, but the company has not released further news.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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27 February
Tartisan Nickel Corp. Completes Initial Data Interpretation from the Airborne EM26 Survey, Turtle Pond Knight Danger Nickel-Copper-Platinum Project
Tartisan Nickel Corp. (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA)("Tartisan" or the "Company") is pleased to announce that the Company has completed the data acquisition and initial interpretation from a Helicopter-Borne Target EM26 Magnetic and VLF Geophysical Survey on the Turtle Pond Knight Danger ("Turtle Pond") nickel-copper-platinum property near Dryden, Ontario. The survey was intended to search for mineralization that is associated with magnetic anomalies from the presence of pyrrhotite and chalcopyrite host rocks.
The airborne magnetic survey, conducted by Expert Geophysics Limited, collected electromagnetic and magnetic data using a cesium vapor magnetometer in a separate towed- bird for collecting measurements of the intensity of the earth's magnetic field to provide detailed insights into the geological features of the Turtle Pond property. Initial results indicate promising anomalies that may correlate with the presence of Nickel, Copper, and PGE mineralization. Additional geophysical interpretation and integration of previous geophysical data from Turtle Pond is underway which will help the Company to fully understand the implications of these findings and to refine exploration strategies moving forward in 2025.
"Our team is excited about the preliminary results of the magnetic survey which suggests that Turtle Pond has potential for significant mineral deposits including PGM's," said Mark Appleby, CEO of Tartisan Nickel Corp. "Next steps involve an in-depth interpretation of the data to identify drill targets and enhance our understanding of subsurface geology. This survey represents a significant step forward in the exploration and evaluation of the property's mineral potential."
The Turtle Pond Property is strategically located in a region known for its mineral deposit potential, and Tartisan Nickel Corp. remains optimistic about the potential for economic mineralization. The results from the magnetic survey will be integrated with existing geological and previous drill and assay data to support our ongoing exploration efforts.
Tartisan Nickel Corp. is committed to a thorough and responsible exploration process, prioritizing environmental stewardship and community engagement. The company will continue to collaborate closely with local stakeholders as it progresses with exploration initiatives.
An Assessment Report on the Turtle Pond Knight Danger Property has been filed.
Additionally, Tartisan Nickel Corp. will host Booth 3035 at the Prospectors and Developers Association of Canada, March 2nd to 5th, 2025, Toronto Convention Centre, Ontario. We look forward to sharing the Tartisan story and connecting with investors.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company which owns; the Kenbridge Nickel-Copper Project in Northwestern Ontario; the Sill Lake Silver Property in Sault Ste. Marie, Ontario as well as the Turtle Pond Knight Danger Project in Northwestern Ontario.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA). Currently, there are 130,995,782 shares outstanding (137,784,671 fully diluted).
Dean MacEachern P.Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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20 February
Chalice Mining Makes Metallurgical "Breakthrough" at Gonneville Project
Chalice Mining ( ASX:CHN,OTC Pink:CGMLF) said on Monday (February 17) that it has made an important metallurgical breakthrough at its Gonneville projected, located in Western Australia.
The company said a hydrometallurgical process for nickel concentrate is no longer needed, as recent testwork results confirm that two saleable, smelter-grade flotation concentrates can be produced across the entire sulphide resource.
Managing Director and CEO Alex Dorsch said in a press release that this new information "materially reduces" capital and operating costs for Gonneville, also substantially reducing technical risk and process complexity.
Gonneville was discovered by Chalice geologists in 2020, and is wholly owned by Chalice Mining. The company says it is the first discovery of its kind in Australia, hosting palladium, platinum, nickel, copper and cobalt.
In 2024, the discovery was the recipient of two major project status honours, one from Western Australian Premier Roger Cook in September, and another from Commonwealth Minister for Industry and Science Ed Husic in October.
These recognitions underscore the project’s role in Australia’s future critical minerals ambition.
Chalice is currently working on a prefeasibility study for Gonneville, and said testwork and optimisation will continue through the first quarter. Prefeasibility work began in 2023, with completion targeted in mid-2025.
In July 2024, Chalice signed a non-binding strategic memorandum of understanding with Mitsubishi (TSE:8058).
The company said at the time that this arrangement will be beneficial to the project, allowing for collaboration on marketing and offtake solutions and improvements in optimization for Gonneville.
Under Australia's newly legislated Critical Minerals Production Tax Incentive, the project may receive a 10 percent tax offset for its carbon-in-leach leaching, which qualifies as an eligible expenditure.
Shares of Chalice rose as high as AU$1.60 after the news on Monday, but pulled back later in the week.
Chalice said it is well positioned moving forward, with AU$90 million in cash and listed investments.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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19 February
Anglo American to Sell Nickel Business to MMG for Up to US$500 Million
Anglo American (LSE:AAL,OTCQX:AAUKF) has agreed to sell its Brazil nickel operations to MMG Singapore Resources, a subsidiary of MMG (OTC Pink:MMLTF,HKEX:1208), for a cash consideration of up to US$500 million.
According to a Tuesday (February 18) press release, the transaction includes Anglo American’s Barro Alto and Codemin ferronickel operations, along with two development projects, Jacaré and Morro Sem Boné.
The purchase price comprises an upfront payment of US$350 million, a potential price-linked earnout of up to US$100 million and a further US$50 million contingent on a final investment decision for the development projects.
The transaction remains subject to regulatory and competition approvals, with completion expected by Q3 2025.
Anglo American Chief Executive Duncan Wanblad said the sale is a key milestone in furthering the company’s restructuring strategy, which involves divesting certain assets to focus on copper, premium iron ore and crop nutrients.
“Today’s agreement, together with those signed in November 2024 to sell our steelmaking coal business, is expected to generate a total of up to US$5.3 billion of gross cash proceeds, reflecting the high quality of our steelmaking coal and nickel businesses,” Wanblad explained, adding that the company sees MMG as a safe and responsible operator.
MMG Chief Executive Cao Liang described the acquisition as a strategic move to diversify the company’s asset base and expand its presence in Latin America, highlighting MMG’s longstanding collaboration with Anglo American.
Anglo American’s nickel operations serve both the stainless steel and battery sectors, and Barro Alto is the only nickel mine globally that is certified by the Initiative for Responsible Mining Assurance.
Together, the company's assets produced 39,400 metric tons of nickel in 2024.
Since last year, Anglo American has been refocusing to concentrate on key commodities while divesting non-core assets.
As mentioned, in November 2024, it reached agreements to sell its steelmaking coal business.
Anglo American has also announced plans to divest its De Beers diamond unit, and is proceeding with the planned demerger of its platinum operations, which is expected to be completed by June 2025.
Platinum remains key for the automotive industry, and despite growing demand for electric vehicles, which do not use platinum-group metals, the company believes supply constraints in South Africa could support future pricing.
Anglo American will retain a 19.9 percent stake in the demerged platinum unit, but will not have board representation. The company has stated that it intends to gradually reduce its stake over time.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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12 February
Nornickel's Net Profit Dips 37 Percent as Western Sanctions and Market Hurdles Persist
Moscow-based miner Norilsk Nickel (Nornickel) reported a 37 percent decline in net profit for 2024, citing ongoing western sanctions and lower metal prices as primary factors affecting its financial performance.
According to the company’s 2024 financial results, consolidated revenue fell 13 percent year-on-year to US$12.5 billion. EBITDA was down 25 percent to US$5.2 billion, with net profit dropping 37 percent to US$1.8 billion.
Company President Vladimir Potanin said that geopolitical restrictions, reduced access to western equipment and shifting trade patterns have negatively impacted the company’s ability to generate cashflow.
“Our business as part of Russian economy remains under significant external pressure. Sanctions and restrictions as well as falling prices of our key metals continued to weigh on our revenue, profitability and ability to generate cash flow," Potanin commented in a press release shared on Monday (February 10).
“Nevertheless, in 2024 we managed to focus on operations and reverse the negative momentum."
CFO Sergei Malyshev said that Nornickel’s board would not recommend paying dividends for 2024.
Although Nornickel itself is not directly sanctioned, broader measures against Russian industries have led to reduced purchases from western clients, disrupted payment channels and logistical difficulties.
The company has redirected its sales to Asian markets to mitigate these effects.
Nornickel is forecasting a global nickel surplus of 150,000 metric tons in 2025, the same as its 2024 surplus estimate. In terms of the market for palladium, which it also produces, it's expected to remain balanced.
The company notes that the US administration’s policy direction on vehicle electrification could influence palladium demand, given its use in internal combustion engine exhaust systems.
Nornickel was tight-lipped about its discussions surrounding a Chinese joint venture.
In December, two sources familiar with the matter told Reuters the company was in talks with Chinese conglomerate Xiamen C&D (SHA:600153) to establish a joint venture to process Nornickel’s copper raw material into metal. Nornickel confirmed the negotiations at the time, and said in a conference call this week that it can't disclose further details.
Nickel market facing challenges in 2025
On a macro level, the nickel market is under pressure due to oversupply and slow demand growth.
The base metal experienced price volatility in 2024, with a brief surge in the first quarter followed by a decline, closing the year in the US$15,000 to US$15,200 per metric ton range.
Industry analysts have pointed to a continued supply glut as a key factor suppressing prices.
For instance, Indonesian production has expanded significantly in recent years, adding to the global nickel surplus. Efforts to rebalance the market have been slow, with limited price recovery expected in 2025.
The potential policy shifts under US President Donald Trump’s administration could further influence the global nickel market. The Inflation Reduction Act, introduced under the previous administration, imposed restrictions on the sourcing of critical minerals for electric vehicle (EV) batteries. Current rules require that nickel suppliers meet foreign entity of concern standards to qualify for tax credits in the US EV market.
Under existing provisions, companies linked to China, Russia, Iran or North Korea cannot hold more than 25 percent control over entities supplying critical minerals for US EV batteries.
This has affected Indonesian nickel exports, as many projects in the country have significant Chinese ownership.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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11 February
Blackstone Minerals Expands Portfolio with Mankayan Copper-Gold Project Acquisition
In a strategic move that marks a significant expansion beyond the company's nickel-mining operations, Blackstone Minerals (ASX:BSX,OTC Pink:BLSTF,FWB:B9S) has announced a merger of equals with IDM International to acquire the Mankayan copper-gold project in the Philippines.
This acquisition positions Blackstone to leverage its expertise in the evolving mining landscape, driven by energy transition requirements, according to Blackstone Managing Director Scott Williamson.
"We can leverage (the) experience that we have from operating in Vietnam, which is a similar jurisdiction. We've operated in Vietnam for the last five or six years; we've been focused on nickel in Vietnam. Now we can use that team and our expertise in developing mines in Vietnam to the Mankayan project in the Philippines," he explained.
The Mankayan project is renowned for its high-grade copper and gold potential, supported by impressive historical drill results. Williamson emphasized the project's significance, indicating the potential for a substantial resource expansion.
Blackstone's future plans for the Mankayan project include an aggressive exploration and development strategy.
"We're looking to do a bit of geophysics, but then also, once the merger has been completed, assuming it is all successful, then we would look to do further drilling. We think that there's opportunity to expand the resource," Williamson said.
The Philippines presents a favorable backdrop for this acquisition. Williamson pointed out that the government's pro-mining stance, coupled with successful operations by other companies in the region, creates an opportune climate for development.
Watch the full interview with Blackstone Minerals Managing Director Scott Williamson above.
Disclaimer: This interview is sponsored by Blackstone Minerals (ASX:BSX,OTC Pink:BLSTF,FWB:B9S). This interview provides information which was sourced by the Investing News Network (INN) and approved by Blackstone Minerals in order to help investors learn more about the company. Blackstone Minerals is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Blackstone Minerals and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. 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. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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