The Conversation (1)
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Anax Metals Limited (ASX: ANX, Anax, or the Company) is pleased to provide an update to the market on its corporate strategy focused on the recommencement of production at the Whim Creek Copper Project (Project), located 115km southwest of Port Hedland in the West Pilbara region of Western Australia (Figure 1). The Project is 80% owned by Anax with the remaining 20% owned by Develop Global Limited (ASX: DVP, Develop).
- Strengthened copper prices have enhanced the Whim Creek economics by 32% providing a Pre-Tax NPV7 of $357M and IRR of 74%.*
- The planned 8-year mine life will generate ~$520M in free cash.*
- Potential to increase open pit mine-life and cashflow through re- optimisation at higher commodity prices.
- Evelyn and Salt Creek copper resource extension exploration to be prioritized in the coming field season.
- Studies for the regional processing hub strategy have commenced.
- The Sulphur Springs Oxide/Transitional leaching test work at the CSIRO completed.
- Project financing and strategic partnering discussions progressing.
Anax’s Managing Director, Geoff Laing commented: “The Whim Creek asset continues to shape up as a strategic processing hub for the Pilbara. The robust standalone project delivers attractive economic outcomes which are highly leveraged to base metal prices.
The recent increase in copper and other key metal prices has significantly enhanced project financial metrics. Anax is ideally positioned to benefit from the positive momentum building in copper demand on the back of its critical role in electrification and green technologies
The team has worked diligently to ensure the Whim Creek asset is ready for near term production of key energy metals while establishing a platform for growth through the processing hub and resource extensions.”
Figure 1: Location of the Whim Creek Project
Strengthening copper, zinc, lead, silver and gold prices adds significant momentum to Whim Creek’s near-term development and recommencement of operations. Key outcomes from the Whim Creek Definitive Feasibility Study (DFS)1 and Heap Leach Study2 based on current metal price and exchange rate inputs provides a ~32% improvement in the Whim Creek financial outcome and would generate circa $520 million free cash, a Pre-Tax NPV7 of $357M and an IRR of 74%* (noting that the DFS1 and Heap Leach Study2 outputs from March and September 2023 provided an NPV7 of $270M and IRR of 55%, respectively).
Furthermore, price assumptions used in open pit optimisations in the DFS were markedly lower than current commodity prices as shown in Table 1.
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This article includes content from Anax Metals 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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Anax Metals Limited
Investor Insight
Anax Metals, an ASX-listed exploration company, is dedicated to advancing its copper assets in Western Australia’s Pilbara region. Through key joint ventures and strategic partnerships, the company is well-positioned to develop a central processing hub, enhancing operational efficiency and delivering strong investor value.
Overview
Anax Metals (ASX:ANX) is a project developer that is on track to begin producing copper and zinc concentrates from its flagship Whim Creek project in the Pilbara region of Western Australia. The project is 80 percent owned by Anax, with JV partner Develop Global (Develop) owning the remaining 20 percent. The Whim Creek DFS (and leaching study) have demonstrated the opportunity for an eight-year mining operation producing copper concentrates, cathodes and valuable byproducts. The operation will generate $410 million in cash flow and deliver an NPV of $270 million with a development capex of $71 million.
The company believes its growth potential lies both in expanding the mineral resources across the project’s four deposits and in a consolidation strategy that includes a processing hub with a concentrator and heap leach at Whim Creek. Benefits from the consolidation include delivering economies of scale with processing flexibility to treat ores from regional orebodies. The permitted infrastructure is ideally located and suited to becoming the Pilbara-processing hub.
Anax Metals and GreenTech Metals signed a non-binding and non-exclusive memorandum of understanding to assess the potential to treat mined material from GreenTech’s base metal assets, with a focus on the open-pittable Whundo deposit.
Anax Metals also signed a non-binding and non-exclusive memorandum of understanding (MoU) with Artemis Resources (ASX:ARV) to jointly assess the potential for processing the copper content of Artemis’ open-pittable Greater Carlow resource at the fully-permitted Whim Creek Processing hub. Anax and Artemis also agree to evaluate the potential for Artemis to explore for gold mineralisation on the Anax project tenure.
Company Highlights
- Anax Metals focuses on delivering copper production at the Whim Creek copper-zinc project within the next 18 to 24 months, targeting over $400 million in free cash flow across an eight-year mine life.
- The company aims to drive resource expansion and consolidate copper assets in the Pilbara region by developing a central processing hub.
- Since completing the DFS last year, Anax Metals has been evaluating opportunities to increase Whim Creek’s production capacity beyond 20 kt of copper equivalent per year.
- Capital requirements are expected to remain low, with plans to leverage existing infrastructure and deploy preconcentration technology to optimize processing capacity..
- Anax Metals actively collaborates with key partners, including Develop Global (ASX:DVP), Greentech Metals (ASX:GRE), and several metal trading groups.
Key Projects
Whim Creek Copper-Zinc Project
Whim Creek is strategically located along the NW Coastal Highway in Western Australia’s Pilbara region, approximately 120 km from both Port Hedland and Karratha. With a long history of copper production, the project benefits from existing infrastructure, including dams, haul roads, offices, workshops, and a dedicated gas spur line. Currently being developed as an 80/20 joint venture between Anax Metals and Develop Global, Whim Creek hosts four key deposits—Whim Creek, Mons Cupri, Salt Creek, and Evelyn. These deposits feature structurally controlled, volcanic-hosted massive sulphide copper-zinc-lead mineralization, presenting significant development potential.
On-going exploration work at Evelyn resulted in discovering exciting new targets for future drilling campaigns scheduled in early 2025. Exploration works conducted in 2024 indicated high copper grades and new soil anomalies. The company is assessing the regional potential of the granted Evelyn Mining Lease for further high-grade VMS-type, polymetallic base metal deposits.
Anax Metals announced its recent application for an exploration license (E47/5275) covering 65 sub-blocks spanning approximately 207 sq. km, which extends the company’s landholding to the south and west of the Whim Creek joint venture tenement package. Once granted, the new tenement will be 100 percent owned by Anax. The majority of E47/5275 lies within the Whim Creek Greenstone Belt, which is highly prospective for volcanogenic massive sulphide (VMS) mineralization, similar to the Whim Creek and Mons Cupri deposits.
Production – Concentrator and Heap Leach
Since completing the definitive feasibility study in 2023, Anax has promoted Whim Creek as a regional processing hub, with potential for an expanded production capacity over 20 kt copper equivalent. Highlights of the technical report include FCF generation of $410 million over an eight-year mine life. Processing would be predominantly through the planned concentrator. Heap leaching is anticipated to begin in the second year of production.
Anax has achieved significant success with bioleaching technology, reporting up to 80 percent copper and 90 percent zinc extraction rates. This innovative approach enhances metal recovery and supports the company’s commitment to sustainable practices.
A processing hub with sorting, concentrator and heap leach facilities
The company believes the project will also provide a processing solution for surrounding projects located within trucking distance of Anax’s processing facility. In the long term, Anax plans to establish a Pilbara Base Metal Alliance to facilitate collaboration with other base metal projects in the region.
Management Team
Phillip Jackson - Chairman
Phillip Jackson is a barrister and solicitor with significant legal and international corporate experience, Phillip Jackson specialises in commercial and contract law, mining and energy law and corporate governance. He has been a director and chairman of a number of ASX and AIM listed minerals companies.
Geoff Laing - Managing Director
Geoff Laing is a chemical engineer with 30 years in mining and project development. He has been involved in the exploration and junior mining sector for the last 15 years, taking on corporate and advisory roles. He was a key player in Exco Resources’ divestment of a substantial copper asset for $175 million to Xstrata Copper, and as managing director, he delivered the successful takeover of the company by WH Sol Pattinson.
Peter Cordin - Non-executive Director
Peter Cordin is a civil engineer with over 45 years' global experience in mining and exploration, both at operational and senior management levels. He has direct experience in the construction and management of diamond and gold operations in Australia, Fenno-Scandinavia and Indonesia.
Phil Warren - Non-executive Director
Phil Warren is a chartered accountant with over 25 years’ experience in board governance, corporate advisory and capital raising advice. Warren has spent a number of years working overseas for major international investment banks. He is currently a non-executive director of ASX listed companies, including Family Zone Cyber Safety, Narryer Metals, Killi Resource and Rent.com.au. He was a founding director of Cassini Resources, which was subsequently acquired by Oz Minerals.
Jenine Owen - Chief Financial Officer
Jenine Owen joined Anax in 2020, where she is responsible for corporate risk management, financial management and financial reporting. She is a chartered accountant with extensive finance and commercial experience, including several CFO roles in ASX listed entities. Having started her career with Deloitte (Zimbabwe) in the external assurance division, she moved to London in 1999 where she held various finance and governance roles before settling in Australia in 2008. Prior to joining Anax, Owen was CFO at Predictive Discovery (ASX:PDI).
Andrew Mcdonald - General Manager
Andrew McDonald is a seasoned geologist with over 20 years of experience in project management, development, resource geology, and exploration across a wide range of commodities. He has held roles with several ASX-listed mining companies, where he has led project development and managed regulatory approvals for mining projects in both Australia and the United States.
Dan O’Hara – Environmental Manager
Dan O’Hara is an experienced environmental professional with over 15 years in environmental management across the mining, oil and gas, construction, and government sectors. In recent years, he has played a key role in securing environmental permits for mining projects in Western Australia.
Near-term copper producer targeting resource growth and a regional consolidation strategy
Juggernaut Further Increases Oversubscribed Financing to $10,329,735 Due to Strong Demand from Institutions and Accredited Investors -- Dr. Quinton Hennigh Technical Advisor
Vancouver, British Columbia TheNewswire - May 15 th, 2025 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its April 14 th and April 23 rd and April 25 th 2025, news releases, the Company is pleased to announce a further increase in its non-brokered financing of up to $10,329,735. Juggernaut welcomes this strategic investment from Crescat Capital Funds LLC ("Crescat") and technical support from Dr Quinton Hennigh. Confirming the quality of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The discovery is in an area of glacial and snowpack abatement next door to the gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery previously announced Jan 20 th (Click Link) with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a world-class geologic terrane with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.
Dr. Quinton Hennigh has taken on the role of special technical advisor to the Company. He is the technical consultant for all Crescat's gold and silver mining investments. Dr. Hennigh is a world-renowned exploration geologist with over 40 years of experience with major gold mining firms, Homestake Mining, Newcrest Mining, Newmont Mining, and Kirkland Lake/Fosterville. In just the last five years, Dr. Hennigh was instrumental in several material discoveries, including Goliath / Surebet, Newfound / Queensway, SCM / Isidorito, Eloro / Iska Iska, Snowline / Valley, Sitka / RC Gold Project, and Tectonic / Flat.
Dr. Hennigh stated , "The Big One gold-silver project has a very similar feel to Goliath's Surebet gold discovery. To date, reconnaissance prospecting and sampling conducted by Juggernaut's exploration team have identified a multitude of multi-meter thick quartz-sulfide veins, many of which have yielded +oz per tonne Au and multi-oz per tonne Ag assays. Early indications suggest there is a genetic association of veins with late-stage magmatism in the area, an association seen at Surebet. This season, Juggernaut has a clear mandate to follow up on these results with detailed mapping and channel sampling, much like Goliath did during the early days of the Surebet discovery. The Company's mission is to get as many targets as possible ready for drill testing either late season or for 2026. I am very eager to see if a new "Surebet" type discovery is in hand.
View Juggernaut videos by Clicking Here .
The charity flow-through funding will close in two tranches, consisting of 9,308,770 units in tranche one for $7,679,735 and 2,000,000 units in tranche two for $1,650,000, equaling 11,308,770 charity flow-through units ("CFT Units"), priced at $0.825 each, for gross proceeds of up to $9,329,735 in total. Each CFT Unit will consist of one charity flow-through common share plus one warrant to purchase one non-flow-through common share at $0.75 for a sixty-month period with a forced accelerated conversion after 10 consecutive trading days at or above $1.50, callable at management's discretion.
Juggernaut is concurrently raising up to 2,000,000 hard dollar units priced at $0.50 each for gross proceeds of up to $1,000,000. Each hard dollar unit will consist of one common share plus one warrant at $0.75 for a sixty-month period, with a forced accelerated conversion after 10 consecutive trading days at or above $1.50, callable at management's discretion, upon completion of the charity flow-through and hard dollar financings for a combined total of $10,329,735. Tranche one is scheduled to close on May 16th, 2025. The proceeds will be used to explore Juggernaut's properties located in Northwestern B.C. and for general working capital.
Finders' fees in accordance with TSXV Policies may be paid. All securities issued in the first tranche closing are subject to a 4-month-plus-one-day hold, expiring September 17, 2025.
"Gold exploration is all about swinging for the fence. Persevering with a diversified portfolio of great management and technical teams with bold targets is the key. The thing about Juggernaut is that it has the same geologic team as the one behind Goliath Resources, with their Surebet gold discovery. We are happy to invest in Juggernaut and this team. It's time for Big One, which may be the best target yet for this company and team. We are eager to support them with capital for another at-bat." - Kevin Smith, CFA, Founder & CEO of Crescat Capital .
Directors and officers of the company may acquire securities under the placement, which participation would be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
Mr. Dan Stuart, Director, President, and CEO of Juggernaut, states:
"We are pleased to strengthen our relationship, both with Crescat Capital as a strategic investor and Dr. Hennigh as a Special Technical Advisor and investor. I look forward to working with our partners who bring a proven track record of both financial and technical strength. This will enable Juggernaut to unlock the full potential of its assets over the long term, building value for all shareholders. This investment and strategic partnership, coupled with the ongoing support and interest from other globally recognized Institutions and senior miners, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100% controlled properties. Post financing, Juggernaut will have an extremely tight capital structure of just 27,663,935 shares, no debt, and a strong cash position of ~ $10,500,000. As such, we are well-positioned to move forward with our plans of drilling The Big One Discovery. With much anticipation, we look forward to executing the inaugural exploration program and reporting results."
The Company may pay finder's fees of the gross proceeds from the financing in cash, and compensation options on units being sold. This non-brokered private placement is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.
About Crescat Capital LLC
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry-leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Over the last several years, Crescat has been building activist stakes in a portfolio of precious metals explorers to express one of its primary macro themes. The company's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives, and includes Global Macro, Long/Short, Large Cap, and Precious Metals funds.
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to Tier 1 mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut's key strategic cornerstone shareholder is Crescat Capital.
For more information, please contact
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
Qualified Person
Rein Turna P. Geo is the independent qualified person as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.
Grab samples are selected samples and may not represent true underlying mineralization.
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 STATEMENT
Certain disclosures in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut's operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Redstone Resources
Investor Insight
Redstone Resources is strategically positioned to benefit from rising global demand for battery metals, with 100 percent ownership of its copper-focused West Musgrave project in WA and a lithium acquisition in Canada.
Overview
Australia, a top global producer of key minerals like copper, nickel, lithium, and gold, supports growing demand through its stable, mining-friendly jurisdictions. The underexplored Musgrave Province hosts significant deposits of critical metals including nickel, PGEs, copper, and rare earths.
Redstone Resources (ASX:RDS) is exploring its 100 percent-owned West Musgrave Project in Western Australia, home to the Tollu Copper deposit. The project lies near major discoveries such as BHP’s Nebo-Babel and Succoth deposits, and Nico Resources’ Wingellina project.
With additional tenement applications in the region and a leadership team experienced in geology, exploration, and business development, Redstone is well-positioned to advance its battery and base metals strategy.
The unique Musgrave terrain has attracted major players like BHP, which is advancing construction of its Nebo-Babel nickel-copper-PGE mine after securing final approvals. The deposit hosts 390 Mt at 0.30 percent nickel and 0.33 percent copper, containing 1.2 Mt of nickel and 1.3 Mt of copper (2012 JORC). Alongside Nico Resources’ Wingellina nickel-cobalt deposit, these discoveries highlight the region’s potential as a major base metals hub.
Redstone’s West Musgrave Project lies between these key deposits—just 60 km east of Nebo-Babel and 50 km west-southwest of Wingellina. The project remains underexplored but is highly prospective, with geology suited to magmatic nickel-copper sulphides, VHMS, and large hydrothermal systems.
Location of Redstone's West Musgrave Project and the Tollu Cu Deposit relative to the world class Nebo-Babel Cu-Ni-Co Deposit and other deposits and prospects in the area.
Redstone Resources’ 100 percent-owned Tollu copper deposit, part of its West Musgrave Project, hosts a JORC-compliant resource of 3.8 Mt at 1 percent copper for 38,000 tonnes of contained copper (0.2 percent cut-off). A conceptual exploration target suggests potential for up to 627,000 tonnes of copper.
Expanding beyond Australia, Redstone is building a lithium portfolio in Canada through a 50/50 joint venture with Galan Lithium (ASX:GLN), acquiring 100 percent of the Camaro, Taiga, and Hellcat Projects in Quebec’s James Bay Lithium District. This region hosts key discoveries, including Patriot Metals’ (ASX:PMT,TSXV:PMET) Corvette Project and Winsome Resources’ ASX:WR1) Cancet Project. Notably, Patriot’s CV8 and CV13 pegmatites lie just 1.4 km from Taiga and 1.5 km from Camaro, respectively.
Redstone will manage the 5,187-hectare JV, backed by a seasoned team with deep expertise in exploration, operations, and corporate strategy.
Company Highlights
- Redstone Resources is an Australia-based mineral exploration company exploring highly prospective properties for copper and other base metals in the West Musgrave region of Western Australia.
- The West Musgrave region is home to major discoveries, including the world-class Nebo-Babel nickel-copper-PGE sulphide deposit and the Wingellina nickel-cobalt deposit, attracting significant interest from major miners.
- Redstone’s 100 percent-owned West Musgrave Project lies just 60 km west of BHP’s Nebo-Babel, highlighting the strong prospectivity of its tenure. The project hosts the Tollu Copper vein deposit, evidence of a large hydrothermal system, and is situated in a geological and structural setting highly favourable for magmatic nickel-copper sulphide, VHMS, and intrusive-related hydrothermal deposits
- Redstone Resources also has a 50/50 joint venture agreement with Galan Lithium, acquiring a 00 percent of a highly prospective suite of lithium projects in James Bay, Quebec.
- The Redstone and Galan Lithium joint venture project acquisitions complement the company’s West Musgrave and its strategy to increase exposure to the growing global battery metals and explore for critical minerals in high demand.
- A strong management team leads the company with decades of experience in the resources sector.
Key Projects
The West Musgrave Project
The West Musgrave Project spans 213 sq. km. of highly prospective yet underexplored terrain. Redstone believe their West Musgrave Project, and the entire West Musgrave Region, has the appropriate setting required to host major Ni-Cu-PGE deposits, such as the Voiseys Bay deposit in Canada. The geological setting of the West Musgrave is comparable to the Nain-Churchill province boundary in Canada, which in Labrador, hosts the world-class Voisey’s Bay deposit.
Voisey’s Bay is considered a ‘giant’ Ni-Cu deposit; in one section alone it contained 31.7Mt of ore grading 2.83 percent nickel and 1.68 percent copper. Voisey’s Bay is also relatively unique in that it is one of a very few Ni-Cu-Co deposits that are hosted in mafic, not ultramafic rocks. Another is Nebo Babel, which is situated only 60km west of Redstone’s Tollu Cu Deposit.
Drilling 7.5 km northeast of the Tollu Copper Vein deposit has confirmed the presence of similar rocks to those that host Nebo Babel, and with low-grade Cu mineralisation, further enhancing the prospectivity of Redstone’s project.
Given the favourable geology, Redstone believe it is possible that the high grade vein hosted Cu of Tollu could potentially be a remobilisation from a much larger accumulation of sulphides nearby and hence remains a priority target area for world class deposits.
The Tollu Copper Vein Project
Tollu, part of the broader West Musgrave Project, features a large swarm of copper-rich hydrothermal veins across a 5 km² area, with surface mineralisation linked to a dilation system between two major shears. The deposit hosts a JORC 2012 resource of 3.8 Mt at 1 percent copper and 0.01 percent cobalt, containing 38,000 tonnes of copper and 535 tonnes of cobalt, with strong potential for expansion through further drilling.
Local Geology Map – Redstone’s West Musgrave Project
The Tollu Cu deposit represents a high-grade Cu accumulation from the surface to a depth of approximately 400m as evidenced by deep drilling intersections that consistently deliver strong results, particularly at the Chatsworth and Forio prospects. These results include:
Chatsworth Prospect
- TLC189: 25m at 1.46 percent copper from 61m, incl. 1m at 5.1 percent copper
- TLC192: 25m at 1.1 percent copper from 53m, incl. 7m at 2.64 percent copper
- TC80: 10m at 3.4 percent copper from 427m, incl. 5m at 5.3 percent copper
- TLC033: 5m at 2.21 percent copper from 100m
- TLC034: 15m at 1.39 percent copper from 136m, incl. 3m at 3.67 percent copper
Forio Prospect
At Forio, drilling confirmed further high-grade zones, including the highest copper grade recorded to date at Tollu—1m at 18.5 percent copper from 18m in TLC203. Additional results include:
- 8m at 4.1 percent copper from 13m, incl. 1m at 18.5 percent copper (TLC203)
- 4m at 1.2 percent copper from 45m (TLC203)
- 6m at 1.47 percent copper from 80m (TLC201)
- 34m at 1.07 percent copper from 15m, incl. 2m at 3.2 percent copper (TLC181)
Redstone and Galan 50/50 Joint Venture
James Bay Lithium Projects - Taiga, Camaro and Hellcat
Redstone Resources and Galan Lithium formed a 50/50 JV to acquire the James Bay Lithium Projects in Quebec, comprising the highly prospective Taiga, Camaro, and Hellcat Projects. Covering 3,850 hectares, the projects lie adjacent to Patriot Battery Metals’ Corvette lithium discovery—just 1.4 km from Taiga (CV8 pegmatite) and 1.5 km from Camaro (CV13 pegmatite).
Project Highlights:
- Located in the La Grande Subprovince, with geology favourable for spodumene-bearing pegmatites.
- Hellcat sits on the Vieux Comptoir Granitic suite, believed to be the source of regional lithium mineralisation.
- Initial work by Axiom Exploration identified 28 prospective pegmatite dykes.
Previous initial exploration on the James Bay Lithium Projects completed by Axiom Exploration identified 28 prospective pegmatite dykes.
Board and Management
Richard Homsany - Non-executive Chairman
Richard Homsany is executive vice-president of Mega Uranium, a Toronto Stock Exchange listed company and executive chairman of Toro Energy Limited, an ASX-listed uranium company. He is also the non-executive chairman of Galan Lithium and the Health Insurance Fund of Australia Limited. Homsany was a corporate and commercial advisory partner with one of Australia’s leading law firms. He is currently the principal of Cardinals Lawyers and Consultants and has been admitted as a solicitor for over 20 years. He has extensive experience in corporate law, including advising public resources and energy companies on corporate governance, finance, capital raisings, takeovers, mergers, acquisitions, joint ventures and divestments.
Edward van Heemst - Non-executive Director
Edward van Heemst is a prominent Perth businessman with over 40 years of experience in managing a diverse range of activities with large private companies. He is the managing director of Vanguard Press and was previously the long-time chairman of Perth Racing (1997 to 2016). He was also appointed as non-executive chairman of NTM Gold, an ASX-listed company from July 2019 to March 2021. Van Heemst holds a bachelor of commerce degree from the University of Melbourne, an MBA from the University of Western Australia and is a member of the Institute of Chartered Accountants Australia.
Brett Hodgins - Technical Director
Brett Hodgins has over 20 years of professional experience in the resources sector primarily focused on exploration and mining operations. He began his career as a geologist with Robe River Mining and Rio Tinto Iron Ore. During that time he was involved with the commissioning and development of the West Angelas and Hope Downs operations. Hodgins' recent roles include general manager project development for Iron Ore Holdings and he is president/CEO of Central Iron Ore, a TSXV-listed company gold and iron ore explorer. He brings a wide range of experience in exploration, feasibility studies, operations, and has a broad knowledge of the resource sector.
Dr. Greg Shirtliff – Geological Consultant
Dr. Greg Shirtliff has over 20 years of experience in industry-related geology and geochemistry, including a PhD in mine-related geology from the Australian National University. Since his studies, Shirtliff has spent over 17 years in various roles in the mining and exploration industry ranging from environmental, mine geology, resource development, exploration and management roles, exploration and technical projects, inclusive of engineering and metallurgical. His roles have included several years at ERA-Rio Tinto’s Ranger Uranium Mine, as the senior geoscientist for Cameco Australasia and more recently as the lead geologist and technical manager for Toro Energy. Shirtliff’s exploration success at Toro Energy includes discovering multiple zones of massive nickel sulphide mineralization along the Dusty Komatiite, arguably the first massive nickel sulphide mineralization discovered in the Yandal Greenstone Belt in Western Australia.
Finlay Minerals Appoints an Executive Chairman, President & CEO, and Vice President, Corporate Development
finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce that it has appointed Robert F. Brown as Executive Chairman of the Board, and Ilona Barakso Lindsay as President & Chief Executive Officer. Mr. Brown and Ms. Lindsay formerly held the positions of President & CEO, and Vice President Corporate Relations, respectively. Both Mr. Brown and Ms. Lindsay also continue to be directors of Finlay.
The Company is further pleased to announce the appointment and to welcome Susan Flasha as Vice President, Corporate Development. Ms. Flasha has held positions with Brixton Metals in Corporate Development and as Senior Geologist where she established partnerships with BHP Group Ltd. and Eldorado Gold Corp., and Pretium Resources as Senior Project Geologist for the Brucejack Mine and Bowser Regional Exploration program. Ms. Flasha holds a Master of Science degree in Geological Sciences from Queen's University.
Gord Steblin continues as Chief Financial Officer and Wade Barnes as Vice President, Exploration of the Company. The Company recognizes and thanks them both for their continued efforts and support as we advance Finlay.
About finlay minerals ltd.
Finlay is a TSXV company focused on exploration for base and precious metal deposits through the advancement of its ATTY, PIL, JJB, SAY and Silver Hope Properties; these properties host copper-gold porphyry and gold-silver epithermal targets within different porphyry districts of northern and central BC. Each property is located in areas of recent development and porphyry discoveries with the advantage of hosting the potential for new discoveries.
Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown ,
Executive Chairman of the Board & Director
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. 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, and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
SOURCE finlay minerals ltd.
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