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LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Company") is pleased to provide the following corporate updates.
BEACON GOLD MILL RESTART AND SWANSON GOLD PROJECT UPDATES
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Many Peaks Minerals
Investor Insight
Significant acquisitions of projects in some of the most prolific gold districts of Côte d’Ivoire, West Africa, position Many Peaks for significant discoveries, giving the stock a compelling investment case.
Overview
Many Peaks (ASX:MPK) is an Australia-based mineral exploration company with gold assets in Côte d’Ivoire, West Africa, and exposure to key energy transition assets in Newfoundland, Canada. With drill-ready targets across its projects, Many Peaks aims to realise growth and value creation through exploration discovery and near-term mineral resource definition.
In West Africa, the company is focused on four recent acquisitions in Côte d’Ivoire totaling 1,919 square kilometres, including the more advanced-stage Odienné and Ferké gold projects with recent gold discoveries and more than US$4 million in previous exploration expenditures.
The company acquired a portfolio of three projects from Turaco Gold Ltd in May 2024, consolidating interests held in the projects by Turaco and Predictive Discovery Ltd. The Company’s establishment into one of the fastest growing gold regions in the world was quickly followed with a binding agreement securing an exclusive option to acquire a 100 percent interest in the Baga gold project, which comprises two permits totaling 644 square kilometres in eastern Côte d’Ivoire.
Many Peaks’ Canadian asset targets the lithium potential in Newfoundland, where an emerging lithium district is strategically positioned with access to both European and North American markets.
A management team with a range of experience throughout the natural resources industry leads the company towards achieving its goals of strengthening shareholder value through exploration.
Company Highlights
- Many Peaks is a mineral exploration company focused on advancing its gold projects in Côte d’Ivoire, West Africa: Odienné, Ferké, Baga and Oumé.
- Land holding in West Africa comprises 1,919 sq km within the Birimian Gold Terrain, providing the company a strategic near-term gold resource potential
- Also holds a 100 percent interest in the Aska lithium project in Newfoundland, Canada.
- An expert management team with extensive experience throughout the natural resources industry leads the team toward fully exploring its assets.
Key Projects
Côte d’Ivoire (West Africa)
Many Peaks’ assets in Côte d’Ivoire comprise four projects – Odienné, Ferké, Baga and Oumé.
Odienné Gold Project
Located in northwest Côte d’Ivoire, Odienné comprises two granted exploration permits covering a total area of 758 square kilometres. It is situated on the flexure of a regional scale structure zone hosting mineralisation to the northwest in neighbouring Guinea and immediately south along the margin of the Archean-aged Man craton.
Odienné Project location in the context of Siguiri Basin geology compilation and gold project locations regionally
Auger drilling in early 2023 defined coherent gold in saprolite anomalism, which prompted a maiden air core drilling campaign in late 2023.
Many Peaks has followed up 2023 success with aggressive exploration, expanding the project’s auger drilling coverage within weeks of acquisition. Systematic coverage of auger has succesfully defined three prioritised targets extending across more than 16 kilometres of a 30-kilometre gold anomaly.
The company is now well positioned for follow-up air core and diamond drilling campaigns to further define confirmed gold mineralisation on the project over the coming 2024-25 field season.
Ferké Gold Project
Located in northern Côte d’Ivoire, the Ferké gold project covers 300 square kilometres within a single granted exploration licence. Ferké is situated on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones.
Ferké Gold Project outline with drill collar locations, including the location of the Ouarigue discovery within the >16km Leraba Gold Trend
Initial exploration work conducted at Ferké defined a more than 16-kilometre-long gold-in-soils anomaly on the Leraba Gold Trend. Previous exploration included systematic surface geochemistry, trenching and reconnaissance reverse circulation (RC) drilling across the broader Ferké area. Early success in reconnaissance RC drilling included initial intercepts into the Ouarigue target area, including results of 25 metres @ 3.06 grams per ton (g/t) gold from 64 metres in hole FNRC016.
The success in RC drilling was followed up with trenching and an initial 18 diamond drill holes, which confirmed a significant outcropping mineralised body associated with a granite intrusion, including intercepts from surface of 91.1 metres @ 2.02 g/t gold in hole FNDC008 and 47 metres @ 3.72 g/t gold from surface in hole FNDC012.
Baga Gold Project
Baga and Oumé project locations on generalised regional scale geology interpretation
The Baga gold project is a 644 sq km landholding comprising two granted permits in Côte d’Ivoire. The project is located 150 km east of the city of Bouaké and covers an underexplored region of structural complexity located just 21 km east of a recent greenfields gold discovery by Endeavour Mining, which over the past three years rapidly defined the 4.5 Moz Assafou gold resource estimate within their Tanda-Iguela permit areas.
Within weeks of securing the option to acquire a 100 percent interest in Baga, Many Peaks has completed the first surface geochemical campaign covering the project area.
The permits are situated where the southern extent of the Duango-Fitini shear zone in Côte d’Ivoire’s north forms a flexure or structural splay into the Oumé-Fetekro parallel shears within Birimian metasediments and metavolcanics. At this change of orientation in structures within the Birimian terrane the Baga project area also covers the intersection, or truncation of the Bui Belt structural trend which hosts Tarkwaiian sediments and conglomerate units extending east and northeast into central Ghana. Baga Gold represents a highly prospective area to advance exploration activity by Many Peaks.
Oumé Gold Project
The Oumé project is an early-stage exploration asset located in south-central Côte D’Ivoire. It comprises a single exploration permit (the Beriaboukro licence) and is situated on the Oumé-Fetekro belt, historically one of Côte d’Ivoire’s most productive greenstone belts. The area is host to Allied Gold’s 2.5 million-ounce (Moz) Bonikro, the 1.9 Moz Agbaou gold deposit and Endeavour’s 3 Moz Lafigué gold project.
Newfoundland (Canada)
Aska Lithium
Many Peaks’ 100-percent-owned Aska project is approximately 45 kilometres east of Cape Ray, Newfoundland. The project covers 193 square kilometres in proven lithium terrane and is situated in a growing lithium district known to host lithium-caesium-tantalum type pegmatites.
Management Team
Travis Schwertfeger - Executive Chairman
Travis Schwertfeger is a geologist with over 25 years of global industry experience primarily in gold and copper projects across Africa, Australia, Africa and the Americas. Schwertfeger has previously held several technical roles in exploration and production, including over seven years operating in West Africa with Newmont Mining and other ASX-listed explorers. He has prior experience as a director of ASX-listed mineral resource companies through previous roles, including a former role with Exore Resources (acquired by Perseus in September 2020 for ~A$80m).
Ben Phillips - Non-executive Director
Ben Phillips has more than 15 years of experience in commercial negotiations and has worked in several industries, including oil and gas, resource, technology and defence. He provides advice on a wide range of operational aspects, from R&D and exploration to production, commercialization and sales. Phillips is the executive chairman of Norfolk Metals (ASX:NFL), was previously a non-executive director at Bronson Group (ASX:BGR) and, subsequently, Mandrake Resources (ASX:MAN). He is currently a corporate executive at Ironside, focused on sourcing, structuring, funding, and management requirements for public and private small-cap companies.
Marcus Harden - Independent Non-executive Director
Marcus Harden is a geologist with extensive gold and base metals exploration and management experience throughout Australia, Africa, Asia and the Americas. Harden's more recent roles include chief geologist of AuTECO Minerals, head of regional exploration for Bellevue Gold, chief geologist of Alicanto Minerals Ltd, and other senior exploration roles with Gryphon Minerals and First Quantum Minerals. He has played key roles in the discovery and definition of several gold deposits globally with ASX-listed junior companies. Among previous projects with contributions to discovery, three are currently operating mines and one is in development. He is also a member of The Australian Institute of Geoscientists.
Aaron Bertolatti - Company Secretary
Aaron Bertolatti is a chartered accountant and company secretary with more than 10 years of experience in the mining industry and accounting profession. Bertolatti has significant experience in the administration of ASX-listed companies, corporate governance and corporate finance.
Advancing gold discoveries in Côte d’Ivoire, West Africa
LaFleur Minerals Provides Update on Beacon Mill Restart, Results of Annual General and Special Meeting, and Swanson Gold Deposit Exploration and Drilling Updates
The Beacon Mill is a fully refurbished and permitted gold mill situated in Val-d'Or, Québec, on the mineral-rich Abitibi Greenstone Belt, where LaFleur Minerals is laser focused on restarting gold production using large bulk samples and mineralized material from nearby gold deposits. With the price of gold in excess of USD$3,000 per ounce, many nearby deposits can be quickly monetized using the Company's 100%-owned Beacon Mill. The mill's operating capacity exceeds 750 tons per day and is strategically located in a highly prospective mining region for gold exploration and development, within an area that is host to over 100 historical and currently operating mines. The advancement of operations at the Beacon Mill has transformational qualities for the Company, evolving it from explorer to a near term gold producer in a Tier 1 jurisdiction with significant upside potential.
Figure 1: Photo of interior of Beacon Mill currently undergoing detailed inspections for restart
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Figure 2: Photo of exterior of Beacon Mill in Val-d'Or, Québec
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Equipment inspections, parts inventory, and maintenance work continues on a full-time basis at the Company's Beacon Gold Mill as part of its restart program (Figure 1 and Figure 2). A final plan and budget to restart the mill will be completed by ABF Mines by late April once final inspections are complete. The Company has also engaged an environmental services company based in Val-d'Or, Québec to complete a federal government requirement to assess and monitor the environmental effects on the tailings and finishing ponds at the Beacon tailings storage facility ("TSF"). In addition, the Company will be engaging an engineering firm to complete a geotechnical assessment/inspection of the TSF and complete any required repairs or upgrades prior to commencing production at the mill. The Company remains committed to restart production at the Beacon Mill to process bulk samples and/or for custom milling purposes prior to the end of 2025, or once all required restart work has been completed and final approvals have been received by the Québec government.
SWANSON GOLD PROJECT UPDATES
The Swanson Gold Project holds a large position in an attractive mining jurisdiction, extending over 16,000 hectares in size and includes several prospects rich in gold and critical metals, previously held by Monarch Mining, Abcourt Mines, and Globex Mining. The consolidated Swanson Gold Project covers a major structural break that hosts the Swanson, Bartec, and Jolin gold targets along with numerous other significant gold showings. The Swanson Gold Project is easily accessible by road with a rail line running through the property, allowing direct access to the Beacon Gold Mill, further enhancing its development potential. The Swanson Gold Project has had in excess of 36,000 metres of historical drilling, which underscores the advanced exploration and development potential of the project, which includes several favourable gold bearing regional structures and deformation corridors extending across the property. Since acquiring the Swanson deposit and consolidating the large claims package, the Company has deployed in excess of $1 million in flow-through funds, completed detailed soil geochemistry and prospecting across several gold targets, completed a very-high resolution airborne magnetic and VLF-EM geophysical survey, and is currently in the process of completing a ground IP survey over the Swanson, Jolin, and Bartec gold deposits. All of this work has allowed the Company to refine priority drill-ready targets and help derisk the upcoming diamond drilling program. Several new promising gold targets have been identified from the recent surface exploration and geophysics programs, highlighting the potential for mineral resource growth and new discoveries at Swanson.
The Company has submitted an application for a diamond drilling permit to the Québec government for the Swanson Gold Project and will be sending Requests for Quotes (RFQ) to local drilling contractors, with drilling expected to commence in the spring at the Swanson, Bartec, Jolin and other recently delineated gold targets.
RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING
LaFleur Minerals also announces the results of its Annual General and Special Meeting ("AGSM") held on March 7, 2025. All matters presented at the AGSM were approved by shareholders including: (1) the Company's 10% Rolling Share Option Plan for continuation for a further three years, (2) the Company's 20% Restricted Share Unit Plan for continuation for a further three years, and (3) the Company's acquisition of an exclusive option to acquire 100% interest in and to certain mining claims and a mining lease located in the Province of Québec, pursuant to the terms and conditions of an option agreement entered into between the Company and BullRun Capital Inc. dated September 17, 2024 (refer to the Company's news release dated September 24, 2024).
EXERCISE OF WARRANTS
Additionally, the Company also announces that it has received total gross proceeds of $816,750 from the exercise of 7,425,000 warrants (the "Warrants"). The Warrants were issued in relation to a private placement completed in March 2023 and had an expiry date of March 14, 2025, which were exercised in full.
QUALIFIED PERSON STATEMENT
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d'Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Project and the Beacon Gold Mill and Property, which have significant potential to deliver long-term value. The Swanson Gold Project is over 16,000 hectares (160 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road with a rail line running through the property allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Minerals' fully-refurbished and permitted Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.
ON BEHALF OF LAFLEUR MINERALS INC.
Paul Ténière, P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this news release include, without limitation, statements related to the use of proceeds from the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, 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.
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Silver Crown Confirms Receipt of Royalty Payments and Provides Update
(TheNewswire)
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TORONTO, ON TheNewswire - March 21, 2025 Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( "Silver Crown" "SCRi" the "Corporation" or the "Company" ) is pleased to announce the receipt of payments on its producing royalties. PPX Mining Corp. (" PPX ") has paid the royalty due to SCRi for the period ending March 31, 2025 in full in the amount of US$40,672.70 several weeks before it was due. Additionally, Elk Gold Mining Corp. (" Elk Gold "), a wholly owned subsidiary of Gold Mountain Mining Corp. (" GMTN "), has paid the first C$29,811.99 of its royalty payment due for the quarter ended December 31, 2024. Pursuant to a letter agreement dated February 5, 2025, SCRi agreed to delay Elk Gold's payment of the residual $30,070.25 royalty payment due to SCRi for the quarter ended December 31, 2024 until March 31, 2025. Â SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025.
On Monday, March 17, 2025, GMTN announced financial and operating results for the fourth quarter ended January 31, 2025. Highlights from the three months ended January 31 st , 2025 include gold sales of 291 oz from 10,055 tonnes delivered grading at an average of 1.23 g/t. Low production results realized during the period were directly attributable to the planned winter work program, which substantially reduced operations throughout the quarter. As a result, production from the Elk Gold Project is consistent with the reduced activity level. The combination of lower stripping volumes and anticipated lower gold production in Q4 2025 resulted in reduced unit costs compared to Q4 2024.
Historically, the silver to gold ratio at the Elk Gold mine was 2:1, implying silver production of approximately 573 oz during the period. SCRi's royalty agreement with Elk Gold provides for a minimum quarterly royalty payment equal to the cash equivalent of 1,500 ounces of silver, almost 300% of the current quarterly silver output at the mine. Although part of GMTN's update noted that its current technical report on the Elk Gold Project should not be relied upon, the minimum delivery ounces will remain unchanged while the Elk Gold Project remains in operation.
Peter Bures, Silver Crown's Chief Executive Officer commented, "We are thankful to PPX for their early royalty payment to SCRi, which showcases the successful ongoing operations at Igor 4. We are also encouraged by GMTN's payment as mining at Elk resumes following the winter work program. We remain committed to supporting our partners and greatly value the collaborative endeavors that contribute to our collective achievements. Furthermore, we wish to underscore the efficacy of our minimum delivery provision, which has proven instrumental in mitigating additional downside risk associated with operating mines."
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. 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.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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