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Anax Metals Limited Investor Kit
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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 Samples up to 256.60 g/t Or 8.25 oz/t Gold and Identifies 4 New Gold-Rich Zones that Remain Wide Open and are Drill Ready within the Highway of Gold Corridor on the Big One Property, Golden Triangle, B.C.
Vancouver, British Columbia TheNewswire - September 8, 2025 Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF) (FSE: 4JE) ( the "Company" or "Juggernaut") is excited to announce that it has identified 4 distinct extensive drill-ready gold-rich zones that remain wide open located along the prolific 15 km Highway of Gold Corridor within the Eldorado System, including: the Gold Dome Zone where grab samples assayed up to 256.60 gt Au or 8.25 ozt Au; the Gold Swarm Zone where grab samples assayed up to 226.94 gt Au or 7.30 ozt Au; the Big Mac Zone where grab samples assayed up to 111.35 gt Au or 3.58 ozt Au; and the Whopper Zone where grab samples assayed up to 39.84 gt Au or 1.28 ozt Au on the Big One property (the "Property"), Golden Triangle, British Columbia . The Company expanded the high-grade gold mineralized Eldorado System that hosts the Highway of Gold with >500 widespread mineralized veins covering an area of ~9 km 2 . The Big One discovery is located in an area of recent glacial and snowpack abatement adjacent to the world-class gold-rich porphyry systems at Galore Creek. The 100% controlled Big One property covers 36,989 hectares in world-class geologic terrane with tremendous additional discovery potential.
Link to overview map with target names and all samples > 1 g/t Au
Link to overview figures Gold Dome+Big Mac, Whopper, Goldswarm
Dan Stuart, President and CEO of Juggernaut Exploration states: "The initial results from this year's exploration season on the Big One property with grab assays up to 256.60 g/t Au or 8.25 oz/t Au from the newly discovered Gold Dome Zone clearly demonstrate the high-grade nature of this emerging district-scale gold system. With over 500 widespread veins and shears discovered in a very short period of time over 15 km with a vertical relief exceeding 1 km that remains open, shows that the Eldorado System is district scale with tremendous untapped growth potential. The Eldorado gold system and Highway of Gold Corridor are showing the right ingredients to quickly become the next big discovery in the Golden Triangle. We look forward to unlocking the full potential of this discovery with the drill bit with much anticipation. The entire team believes we are only seeing the tip of the iceberg and the best is yet to come."
Manuele Lazzarotto, PhD, Chief Geologist of Juggernaut Exploration states: "I am happy to report on behalf of the entire team that the successful 2025 systematic exploration program was just wrapped up on August 29th and all goals have been accomplished on time and on budget. The excellent results with many grab samples with multi-ounce gold assays from 4 extremely gold-rich extensive drill-ready zones within the 15 km Highway of Gold Corridor, namely the Gold Swarm Zone, Big Mac Zone, Gold Dome Zone and Whopper Zone, which some say appears to be a lot like the high-grade seen at Brucejack, or epithermal/porphyry related or related to a magmatic intrusive. It's early days but these are all possible geological model outcomes. All of this is a clear testament that we appear to have discovered a new gold-rich, polymetallic-rich district-scale system at Big One. Over 500 mineralized veins many with remarkable gold content have been confirmed on surface and we look forward to testing the subsurface with the planned inaugural drill program. The team is eager to start planning the upcoming fully funded drill campaign designed to test these 4 extensive zones once all the data collected this season has been received, compiled and interpreted."
The Eldorado system consists of a vast area of ~9 km 2 of recently exposed bedrock that hosts the 15 km Highway of Gold Corridor containing >500 widespread polymetallic quartz-sulphide veins and shears as well as extensive propylitic alteration within a vertical relief of 1 km. The polymetallic veins contain semi-massive to massive chalcopyrite, sphalerite and galena with grades up to 256.60 g/t Au or 8.25 oz/t Au that remain wide open, visually and geochemically reminiscent of the high-grade veins observed at Brucejack. Grab samples collected during the 2024 season assayed up to 2084 g/t Ag and 7.9% Cu. 2025 assay results reported in this news release only comprise gold values. Results for silver, copper, lead and zinc will be reported once analyses are completed and the data has been reviewed and compiled. Four gold-rich polymetallic mineralized zones have been identified and are planned to be tested during the inaugural drill program.
Initial highlights from the 2025 exploration season:
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The Big Mac Zone measures ~1 km by ~1 km and consists of multiple large veins with shear zones that are up to 10 meters wide and exposed on surface for 400 meters with vertical reliefs of up to 360 m where they are covered by snow and ice and remain wide open. A channel cut from the Big Mac Zone that assayed 6.63 g/t Au over 3.58 meters, including 17.45 g/t Au over 1.35 m and 47.18 g/t Au or 1.52 oz/t Au over 0.47 m, true width, was collected 5 meters to the east of a grab sample that assayed up to 111.35 g/t Au. A second channel cut assayed 3.60 g/t Au over 1.45 meters, including 10.17 g/t Au over 0.50 meters located 270 m on strike to the west of the 111.35 g/t Au sample. A grab sample, located 450 m to the west, assayed 55.5 g/t Au or 1.78 oz/t Au from a difficult-to-access secondary vein located in the nearby cliffs. 14 out of 26 samples (54%) from the Big Mac Zone assayed 1 g/t Au. The Big Mac Zone is drill-ready.
Link to video , Link to image gallery
Table 1: Big Mac Zone samples >1 g/t Au
| Zone | Year | Sample ID | Type | Au (g/t) |
| Big Mac | 2025 | M220659 | Grab | 111.35 |
| Big Mac | 2025 | M220561 | Grab | 55.50 |
| Big Mac | 2025 | M217807 | Channel | 47.18 |
| Big Mac | 2024 | D751216 | Grab | 37.98 |
| Big Mac | 2025 | D750624 | Grab | 21.62 |
| Big Mac | 2025 | D750625 | Grab | 18.32 |
| Big Mac | 2025 | M217784 | Channel | 10.83 |
| Big Mac | 2024 | D750608 | Grab | 10.62 |
| Big Mac | 2025 | M217785 | Channel | 10.17 |
| Big Mac | 2024 | D751284 | Float | 6.34 |
| Big Mac | 2025 | D751435 | Grab | 5.19 |
| Big Mac | 2025 | M217788 | Channel | 5.15 |
| Big Mac | 2025 | M217805 | Channel | 4.18 |
| Big Mac | 2024 | D751285 | Grab | 3.74 |
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The Whopper Zone is a ~2 km by ~2 km area that consists of multiple veins up to 5 meters wide and extensive shear zones up to 50 meters wide that are exposed on surface for 500 meters with vertical reliefs of up to 780 meters. Channel cuts from the Whopper Zone assayed up to 39.84 g/t Au or 1.28 oz/t Au over 0.50 m within a larger interval that assayed 6.71 g/t Au over 3.06 meters. Multiple grab collected upslope of the channel cut along a 5 meter wide vein hosted in an 8 meter wide shear zone along 50 meters of exposed vein assayed up to 13.12 g/t Au. The shear zones are difficult to sample due to the exposed cliffs and comprise numerous lenses of semi-massive to massive galena, chalcopyrite, sphalerite and pyrite contained in quartz veins and stockwork and remain open on either side, where they are covered by snow and ice. 32 samples out of 158 (20%) assayed 1 g/t Au. Multiple targets in the Whopper zone are drill-ready
Link to video , Link to image gallery
Table 1: Whopper Zone samples >1 g/t Au
| Zone | Year | Sample ID | Type | Au (g/t) |
| Whopper | 2024 | D751282 | Grab | 79.01 |
| Whopper | 2025 | M217601 | Channel | 39.84 |
| Whopper | 2024 | D751163 | Float | 23.97 |
| Whopper | 2025 | M217567 | Channel | 17.00 |
| Whopper | 2024 | D750394 | Grab | 13.12 |
| Whopper | 2024 | D751191 | Channel | 12.12 |
| Whopper | 2024 | D751975 | Grab | 10.62 |
| Whopper | 2025 | D751365 | Grab | 9.35 |
| Whopper | 2024 | D750389 | Grab | 8.10 |
| Whopper | 2025 | M217571 | Channel | 6.06 |
| Whopper | 2024 | D750395 | Grab | 6.01 |
| Whopper | 2024 | D750198 | Float | 6.01 |
| Whopper | 2024 | D751154 | Grab | 5.72 |
| Whopper | 2024 | D751969 | Float | 5.59 |
| Whopper | 2024 | D751939 | Channel | 5.06 |
| Whopper | 2024 | D751112 | Float | 4.94 |
| Whopper | 2025 | M217566 | Channel | 4.40 |
| Whopper | 2025 | M217573 | Channel | 4.27 |
| Whopper | 2024 | D751943 | Grab | 4.00 |
| Whopper | 2024 | D751192 | Channel | 3.39 |
| Whopper | 2024 | D751215 | Grab | 2.96 |
| Whopper | 2024 | D751699 | Grab | 2.15 |
| Whopper | 2024 | D751165 | Grab | 1.95 |
| Whopper | 2025 | D751426 | Grab | 1.91 |
| Whopper | 2024 | D751213 | Float | 1.65 |
| Whopper | 2024 | D751109 | Grab | 1.65 |
| Whopper | 2025 | M220559 | Grab | 1.55 |
| Whopper | 2024 | D751968 | Grab | 1.49 |
| Whopper | 2024 | D751972 | Channel | 1.42 |
| Whopper | 2024 | D751993 | Grab | 1.20 |
| Whopper | 2025 | D750751 | Grab | 1.16 |
| Whopper | 2024 | D750393 | Grab | 1.01 |
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The Gold Swarm Zone contains clusters of shear zones and veins up to 4.5 meters wide with grab samples that assayed up to 226.94 g/t Au or 7.30 oz/t Au and a channel cut that assayed 4.02 g/t Au over 4.36 m containing substantial amounts of semi-massive to massive chalcopyrite, galena and sphalerite. The zone has been recently exposed by glacial retreat and covers an area of ~1 km by ~1 km and extends over a vertical relief of 440 m and remains open in all directions. 27 samples out of 44 (61%) assayed 1 g/t Au. The Gold Swarm Zone is drill-ready.
Table 1: Gold Swarm Zone samples >1 g/t Au
| Zone | Year | Sample ID | Type | Au (g/t) |
| Gold Swarm | 2025 | M217656 | Float | 226.94 |
| Gold Swarm | 2025 | D750642 | Grab | 43.99 |
| Gold Swarm | 2025 | D751373 | Grab | 21.44 |
| Gold Swarm | 2025 | M224982 | Chip | 21.17 |
| Gold Swarm | 2025 | M217705 | Channel | 20.78 |
| Gold Swarm | 2025 | M217655 | Grab | 19.64 |
| Gold Swarm | 2025 | D750644 | Grab | 18.47 |
| Gold Swarm | 2025 | D750639 | Grab | 18.12 |
| Gold Swarm | 2025 | M217657 | Grab | 18.11 |
| Gold Swarm | 2025 | D750641 | Grab | 15.52 |
| Gold Swarm | 2025 | M217852 | Channel | 15.39 |
| Gold Swarm | 2025 | M217649 | Channel | 14.96 |
| Gold Swarm | 2025 | D750638 | Grab | 14.46 |
| Gold Swarm | 2025 | M224983 | Grab | 14.06 |
| Gold Swarm | 2025 | M224883 | Grab | 11.07 |
| Gold Swarm | 2025 | D751372 | Grab | 7.44 |
| Gold Swarm | 2025 | D750643 | Grab | 7.36 |
| Gold Swarm | 2025 | M217589 | Channel | 5.81 |
| Gold Swarm | 2025 | M224981 | Grab | 5.31 |
| Gold Swarm | 2025 | M217648 | Channel | 4.69 |
| Gold Swarm | 2025 | M217702 | Channel | 4.30 |
| Gold Swarm | 2025 | D751417 | Grab | 3.38 |
| Gold Swarm | 2025 | D750704 | Grab | 2.59 |
| Gold Swarm | 2025 | M217853 | Channel | 1.75 |
| Gold Swarm | 2025 | M217592 | Channel | 1.69 |
| Gold Swarm | 2025 | D751371 | Grab | 1.56 |
| Gold Swarm | 2025 | M217591 | Channel | 1.17 |
| Gold Swarm | 2025 | M217704 | Channel | 1.07 |
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The Gold Dome Zone is a ~3 km by ~1.5 km zone that consists of clusters of multiple extensive gold-rich shear zones, veins, and stockwork that are up to 4 meters wide and exposed on surface for 1 km with a vertical relief of ~600 m and remain open. Grab samples assayed up to 256.60 g/t Au or 8.25 oz/t Au and a channel cut assayed 5.45 g/t Au over 2.77 meters from a vein exposed on surface in the adjacent difficult to reach cliff face for ~200 meters. The mineralized veins contain seams of semi-massive galena, sphalerite, chalcopyrite and pyrite. 46 samples out of 191 (24%) assayed 1 g/t Au. Multiple targets in the Gold Dome Zone are drill ready.
Link to video , Link to image gallery
Table 1: Gold Dome Zone samples >1 g/t Au
| Zone | Year | Sample ID | Type | Au (g/t) |
| Gold Dome | 2025 | M224886 | Float | 256.60 |
| Gold Dome | 2025 | D751423 | Grab | 138.70 |
| Gold Dome | 2025 | M224956 | Grab | 95.04 |
| Gold Dome | 2025 | D751407 | Grab | 68.57 |
| Gold Dome | 2025 | D751424 | Grab | 60.08 |
| Gold Dome | 2024 | D751966 | Grab | 56.54 |
| Gold Dome | 2025 | M217579 | Channel | 34.96 |
| Gold Dome | 2024 | D751156 | Grab | 33.72 |
| Gold Dome | 2025 | M217613 | Channel | 31.68 |
| Gold Dome | 2025 | M224961 | Grab | 31.25 |
| Gold Dome | 2025 | D751402 | Grab | 29.23 |
| Gold Dome | 2025 | D751375 | Grab | 28.47 |
| Gold Dome | 2024 | D751964 | Talus | 23.47 |
| Gold Dome | 2024 | D751209 | Grab | 19.82 |
| Gold Dome | 2025 | D751357 | Grab | 18.06 |
| Gold Dome | 2025 | D751374 | Talus | 16.60 |
| Gold Dome | 2025 | M224959 | Grab | 15.94 |
| Gold Dome | 2025 | M220602 | Grab | 11.92 |
| Gold Dome | 2025 | M224957 | Grab | 9.65 |
| Gold Dome | 2025 | M224905 | Talus | 9.48 |
| Gold Dome | 2025 | M220601 | Grab | 6.77 |
| Gold Dome | 2025 | D751403 | Float | 6.13 |
| Gold Dome | 2024 | D751158 | Grab | 4.60 |
| Gold Dome | 2025 | D750632 | Float | 4.44 |
| Gold Dome | 2025 | M217608 | Channel | 4.35 |
| Gold Dome | 2025 | M217643 | Channel | 4.35 |
| Gold Dome | 2025 | D751406 | Grab | 4.07 |
| Gold Dome | 2025 | D750621 | Grab | 3.76 |
| Gold Dome | 2025 | M217637 | Channel | 3.63 |
| Gold Dome | 2024 | D750192 | Grab | 3.44 |
| Gold Dome | 2025 | M217727 | Channel | 2.73 |
| Gold Dome | 2025 | M224963 | Grab | 2.63 |
| Gold Dome | 2025 | D751404 | Grab | 2.61 |
| Gold Dome | 2025 | M224851 | Chip | 2.61 |
| Gold Dome | 2025 | M224855 | Grab | 2.23 |
| Gold Dome | 2025 | M224902 | Subcrop | 2.02 |
| Gold Dome | 2025 | M217618 | Channel | 1.94 |
| Gold Dome | 2024 | D751195 | Channel | 1.61 |
| Gold Dome | 2025 | M217724 | Channel | 1.50 |
| Gold Dome | 2025 | M224901 | Grab | 1.46 |
| Gold Dome | 2025 | M217636 | Channel | 1.33 |
| Gold Dome | 2024 | D751251 | Grab | 1.27 |
| Gold Dome | 2025 | D750629 | Grab | 1.23 |
| Gold Dome | 2025 | M224852 | Grab | 1.08 |
| Gold Dome | 2025 | D750852 | Subcrop | 1.07 |
| Gold Dome | 2025 | M224904 | Grab | 1.04 |
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A total of 421 rock samples were collected during the 2025 exploration season along the 15 km Highway of Gold: 272 grab/float samples and 149 channel samples. Preliminary assay results for samples reported in this news release only comprise gold. Assay results only comprise gold values. Results for silver, copper, lead and zinc will be reported once analyses are completed and the data has been reviewed and compiled. Based on assay results reported from the 2024 season on samples that are visually similar to the samples reported today, the previously reported 2024 samples assayed up to 2084 g/t Ag and 7.9% Cu, shows there is strong potential for considerable added value once full assays are received.
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Detailed geological and structural mapping has been completed on the reported drill targets in order to better understand the full geometry of these high-grade gold-bearing shears and veins and will be instrumental in designing the drill plan for the upcoming maiden drill program.
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A high-resolution UAV photogrammetry survey was completed over an area of 52 km on the Eldorado System encompassing the entire 15 km Highway of Gold with all four of the confirmed drill targets. The data will be used to support modelling and better understand the high-grade gold mineralization recently discovered.
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A property wide LiDAR survey covering an area of 385 km has been conducted and will be used to augment information obtained from the mapping as well as plan the upcoming inaugural drill campaign.
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The polymetallic veins, alteration signature, geochemical path finder element signature, and geophysical anomalies strongly indicate the presence of a common buried gold-silver-copper rich porphyry feeder source or similar magmatic source at depth responsible for the extensive high-grade veining confirmed on surface.
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Four extensive drill-ready Zones have been confirmed on the 15 km Highway of Gold Corridor and are planned to be tested in the inaugural drill program and include: the Gold Dome Zone where grab samples assayed up to 256.60 g/t Au or 8.25 oz/t Au; the Gold Swarm Zone where grab samples assayed up to 226.94 g/t Au or 7.30 oz/t Au; the Big Mac Zone where grab samples assayed up to 111.35 g/t Au or 3.58 oz/t Au; and the Whopper Zone where grab samples assayed up to 39.84 g/t Au or 1.28 oz/t Au.
The Big One property is situated in a region that is well known for hosting world class precious metal and porphyry deposits, several of which occur near the property including the multiple porphyry systems at Galore Creek (12,159 million pounds of copper, 9.438 million ounces of gold, 174.086 million ounces of silver), the world's largest known gold reserve at KSM (47.3 million ounces of gold, 160 million ounces of silver, 7.32 billion pounds of copper) and the polymetallic copper project at Shaft Creek (5 billion pounds of copper, 3.7 million ounces of gold, 16.4 million ounces of silver), as well as the Brucejack high-grade epithermal gold deposit (14 million ounces of gold, 91.8 million ounces of silver), and the structurally controlled high-grade hydrothermal gold-silver zones at Trophy and Sphal Creek. The property geology is favorable to host these types of deposits as confirmed by the presence of extensive areas of propylitic alteration, untested geophysical anomalies, strong silt, soil and rock geochemistry including path finder elements directly related to porphyry systems, key structures and textures, porphyry-style mineralization, and high-grade polymetallic veins, that have been discovered within the Big One claims.
The Big One property can be accessed year-round via helicopter from the Glenora/Telegraph Creek Road at the Barrington Mine (33 km to the north-northeast) as well as the Galore Creek Road (15 km to the southeast). The Canadian government committed $20 M to extend/improve the Galore Creek Road to within 15 km of the Big One property. The property is 2 km west of the Scud River airstrip used in the early days of Galore Creek.
A Notice of Work application (drill permit application) has been submitted to the British Columbia Ministry of Mining and Critical Minerals in preparation for the inaugural drill program. The Big One property exploration qualifies for the Critical Mineral Exploration Tax Credit (CMETC).
The Company would like to extend a special thanks to the Tahltan First Nation, the local community and service providers for supporting our efforts and contributing to the success of this year's program. We look forward to continuing to work with the Tahltan First Nation and all local stakeholders, and businesses, while we move forward to unlocking the full potential of this amazing new discovery. WORKING TOGETHER WE SUCCEED!
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
Tel: (604)-559-8028
Qualified Person
Rein Turna, P. Geo is the 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.
Other
The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples are then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, certified reference materials, and duplicate samples are inserted regularly into the sample sequence at a rate of 10%.
All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. The core samples undergo preparation via drying, crushing to ~70% of the material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into three plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon assay analysis (method CPA-Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, inducing the emission of secondary gamma rays, which are measured to quantify gold concentrations. The assays from all jars are combined on a weight-averaged basis. Multielement analyses are carried at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via ICF6xx and IMS-230 methods. The IMS-230 method uses 4-acid digestion (a combination of hydrochloric, nitric, perchloric and hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-6xx method (where ‘xx' denotes the target metal). This method employs 4-acid digestion followed by inductively coupled plasma emission spectrometry.
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FORWARD LOOKING STATEMENT
Certain disclosure 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.
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Sun Summit Drills 78.0 Meters of 3.72 g/t Gold Including 19.1 Meters of 7.50 g/t Gold at the JD Project, Toodoggone District, B.C.
Sun Summit Minerals Corp. (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) ("Sun Summit" or the "Company") is pleased to report results from its first drill hole completed in 2025 at the JD Project, Toodoggone Mining District, north-central British Columbia.
Hole CZ-25-007 returned one of strongest intervals of consistent and near-surface gold mineralization drilled to date at the Creek Zone: 78.0 meters of 3.72 g/t gold starting at 30.0 meters down hole. This interval of near-surface gold mineralization is in an area previously untested by drilling and is interpreted to represent a parallel trend of mineralization north of the Creek Zone where it remains open to the northwest. Follow-up drilling is planned for this season.
Highlights:
- Hole CZ-25-007 intersected a significant zone of near-surface, continuous gold mineralization punctuated with high-grade veins:
- 78.0 meters of 3.72 g/t gold from 30.0 meters down hole, including
- 12.0 meters of 8.55 g/t gold, and including
- 19.1 meters of 7.50 g/t gold
- The 78.0 meter interval contains multiple high-grade veins, some with fine visible gold, that returned 31.84 g/t gold over 1.0 meters, 54.40 g/t gold over 1.0 meters, 67.80 g/t gold over 0.90 meters and 98.80 g/t gold over 0.5 meters. These intervals clearly demonstrate the high-grade gold mineralization potential of the Creek Zone.
- Establishes a new zone of high-grade and disseminated mineralization: The upper 78.0 meter interval is in an area not previously tested by drilling and may represent a parallel zone of mineralization north of the main series of Creek Zone high-grade veins.
- Follow-up drilling planned: Based on the exceptional results from CZ-25-007, additional step-out holes are planned for this season to test the down-dip and northwest strike extent.
- Additional assay results pending: Assays from the remaining ten holes (3,340 meters) drilled at the Creek zone are pending.
"The first hole of this year's drill program at our JD Project in the significant Toodoggone District, represents the best hole drilled to date at the Creek Zone," said Niel Marotta, CEO of Sun Summit Minerals. "The hole intersected significant mineralization from 30 meters downhole. This interval is punctuated with multiple high-grade zones which supports the high-grade gold potential of the Creek Zone, typical of many Toodoggone gold deposits. We have planned additional holes to test the strike extent of this new zone of mineralization and are excited to move the drill rig back to the area in the coming weeks."
Table 1. Assay Results1,2
| Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
| CZ-25-007 | 30.00 | 108.00 | 78.00 | 3.72 | 4.12 |
| including | 30.00 | 79.00 | 49.00 | 5.57 | 5.89 |
| including | 37.00 | 49.00 | 12.00 | 8.55 | 8.69 |
| including | 37.00 | 38.00 | 1.00 | 31.84 | 11.66 |
| including | 48.00 | 49.00 | 1.00 | 54.40 | 31.90 |
| including | 59.90 | 79.00 | 19.10 | 7.50 | 4.77 |
| including | 59.90 | 60.84 | 0.94 | 67.80 | 36.19 |
| including | 78.50 | 79.00 | 0.50 | 98.80 | 67.80 |
| and | 198.00 | 207.20 | 9.20 | 0.30 | 0.87 |
| and | 251.00 | 271.00 | 20.00 | 0.89 | 0.25 |
| including | 258.00 | 266.89 | 8.89 | 1.78 | 0.47 |
- Intervals are downhole core lengths. True widths are unknown.
- Calculations are uncut and length-weighted using a 0.10 g/t gold cut-off.
- Grades have not been capped in the length-weighted averaging.
Drill Hole CZ-25-007
Hole CZ-25-007 was collared 75 meters to the north of hole CZ-24-004 (122.53 metres of 2.11 g/t gold including 4.04 metres of 46.78 g/t gold, see October 2, 2024 news release) and stepped out 100 meters west of hole CZ-24-005 (57.95 meters of 2.69 g/t gold including 19.50 meters of 7.31 g/t gold, see October 16, 2024 news release, Figure 1). The upper interval of strong disseminated and high-grade vein-hosted gold mineralization in CZ-25-007 (e.g., 78.0 meters 3.72 g/t gold, Table 1) is approximately 120 metes to the northwest of the upper interval in CZ-24-005 (Figure 2). Together, these intercepts may represent a new zone of mineralization that trends parallel to the main steeply-dipping northwest-striking vein-sets (e.g., 22.0 m of 11.7 g/t Au including 4.0 m of 61.2 g/t Au, in hole CZ97-0081). Further drilling is warranted to test the strike- and dip- extent of this parallel zone.
The upper interval in CZ-25-007 contains multiple high-grade veins and breccias (31.84 g/t gold over 1.0 meters, 54.40 g/t gold over 1.0 meters, 67.80 g/t gold over 0.90 meters and 98.80 g/t gold over 0.5 meters) within the broad zone of disseminated gold mineralization (Figure 3). Many of these higher-grade intervals contain fine visible gold (Figure 4). These intervals demonstrate the high-grade mineralization potential of the Creek Zone and support the strong prospectivity of the Creek Zone to the northwest in an area lacking drilling.
Hole CZ-25-007 intersected a bedded sequence of intermediate volcanic and volcaniclastic rocks interpreted to be a sequence within the McClair Member of the Early Jurassic Toodoggone formation. Higher-grade gold mineralization is hosted in epithermal-related and locally banded quartz-carbonate veins, veinlets and sulfide-cemented breccias with locally strong potassium feldspar alteration halos (Figure 3). Vein-hosted sulfides include pyrite, sphalerite, ± chalcopyrite and galena with some veins containing visible gold. Bulk-tonnage mineralization is associated with selectively pervasive sericite-chlorite-hematite alteration with disseminated pyrite, proximal to vein-associated potassic alteration (Figure 3).
Drill Program
Drilling in 2025 at the Creek Zone was designed to investigate the lateral and vertical extent of high-grade and bulk-tonnage gold mineralization (Figures 1 and 2). Over 3,700 meters across 11 drill holes at Creek have so far been completed. These holes were designed to systematically test the vein-controlling structures on 50 to 100 meter pierce-points covering a strike-length of over 800 meters and a down-dip extent of over 200 meters (Figures 1 and 2). Based on the result of CZ-25-007 step-out holes to the northwest are planned this season.
Assays from the remaining drill holes, as well as surface sampling results are pending and will be released as they are received and reviewed.
Figure 1. Plan map showing drill collar location of CZ-25-007 and additional drill holes with pending results. Selected highlights from the 2024 drill program at the Creek Zone are also shown (see October 2nd, 2024 and October 16th, 2024 news releases). See references 1 and 2 for sources of historical drill data.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/265410_d618af9264737880_001full.jpg
Figure 2. Oblique view through the Creek Zone drill holes showing downhole assays for all drill holes including CZ-25-007 and holes with pending results. Selected highlights from the 2024 drill program at the Creek Zone are also shown (see October 2nd, 2024 and October 16th, 2024 news releases). See references 1 and 2 for sources of historical drill data.
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https://images.newsfilecorp.com/files/6142/265410_d618af9264737880_002full.jpg
Figure 3. Core photos of CZ-25-007, A. Box photos showing core from 24.99 m to 80.0 m downhole which includes four high-grade intervals of 31.84 g/t Au over 1.0 m, 54.40 g/t Au over 1.0 m, 67.80 g/t Au over 0.94 m and 98.80 g/t Au over 0.50 m collectively within a broader interval of 49.0 m of 5.57 g/t Au. Individual down hole gold assay results are annotated at the sample depths.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/265410_d618af9264737880_003full.jpg
Figure 4. Core photos from CZ-25-007 showing zones of high-grade mineralization, A. sulfide-cemented hydrothermal breccia at 59.9 m down hole (67.80 g/t gold over 0.94 m) with visible gold B. example of visible gold at 59.9 m down hole, C. high-grade vein at 37.0 m down hole (31.84 g/t gold over 1.0 m) with specks of visible gold, D. example of visible gold at 37.0 m down hole. Abbreviations, qtz = quartz, carb = carbonate, epi = epidote, sph = sphalerite, cpy = chalcopyrite.
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Figure 5. Map of the Toodoggone District showing the location of the JD Project in relation to other development and exploration projects. Data sourced from Thesis, TDG and Centerra's corporate websites. The QP has been unable to verify the information and that the information is not necessarily indicative to the mineralization on the property that is the subject of the disclosure.
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Table 2. Drill Collar Location
| Hole ID | Easting | Northing | Elevation (m) | Azimuth | Dip | Depth (m) |
| CZ-25-007 | 608275 | 6368386 | 1504 | 255 | -45 | 341 |
Coordinates are in UTM NAD83 Zone 9N
Quality Assurance and Quality Control
All drill core sample assay and analytical results have been monitored through the Company's quality assurance and quality control program (QA/QC). Drill core was sawn in half at Sun Summit's dedicated and secure core logging and processing facility at the JD exploration camp.
Half of the drill core was sampled and shipped by a bonded courier in sealed and secured woven polyester bags to the ALS Global preparation facilities in Kamloops, BC. Core samples were prepared using ALS standard preparation procedure PREP-31A which involves crushing the sample to 70% less than 2mm, followed by a riffle split of 250g, and then a pulverised split to better than 85% passing 75 microns.
Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in North Vancouver, B.C. for analysis. ALS Global is registered to ISO/IEC 17025:2017 accreditations for laboratory procedures.
Drill core samples were analyzed for 48 elements by ICP-MS on a 0.25-gram aliquot using a four-acid digestion (method ME-MS61). This method is considered a "ultra trace element" analytical method with low detection limits on key pathfinder elements such as Ag, As, Sb, Se and Tl.
Gold was analyzed by fire assay on a 30-gram aliquot with an AES finish (inductively coupled plasma atomic emission spectroscopy - method Au-ICP21). Samples that returned >10 parts per million (ppm) gold were re-analyzed by fire assay using a gravimetric finish on a 30-gram aliquot (method Au-GRA21).
Overlimit samples (e.g. Ag, Cu, Pb & Zn) were re-analyzed using an ore-grade, four-acid digestion and ICP-AES finish. Over limits for key elements: samples with >100 ppm silver, >10,000 ppm Cu, >10,000 ppm Pb and >10,000 ppm Zn. In addition to ALS Global laboratory QA/QC protocols, Sun Summit implements a rigorous internal QA/QC program that includes the insertion of duplicates, certified reference materials (standards prepared by an independent lab) and blanks into the sample stream. A total of 38 QA/QC samples, including 21 standards, were inserted in the field, representing 14.2% of the overall sample stream. There were no significant issues identified in either the internal or external QA/QC samples.
National Instrument 43-101 Disclosure
This news release has been reviewed and approved by Sun Summit's Vice President Exploration, Ken MacDonald, P. Geo., a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Some technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The historical technical information has not been verified by Sun Summit and may in some instances be unverifiable dependent on the existence of historical drill core and grab samples.
Community Engagement
Sun Summit is engaging with First Nations on whose territory our projects are located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations with ongoing exploration.
About the JD Project
The JD Project is located in the Toodoggone mining district in north-central British Columbia, a highly prospective deposit-rich mineral trend. The project covers an area of over 15,000 hectares and is in close proximity to active exploration and development projects, such as Thesis Gold's Lawyers and Ranch projects, TDG Gold's Baker-Shasta projects, Amarc Resource's AuRORA project, Centerra's Gold's Kemess East and Underground projects, as well as the past-producing Kemess open pit copper-gold mine (Figure 5).
The project is 450 kilometres northwest of the city of Prince George, and 25 kilometres north of the Sturdee airstrip. It is proximal to existing infrastructure in place to support the past-producing Kemess mine, including roads and a hydroelectric power line.
The JD Project is in a favourable geological environment characterized by both high-grade epithermal gold and silver mineralization, as well as porphyry-related copper and gold mineralization. Some historical exploration, including drilling, geochemistry and geophysics, has been carried out on the property, however the project area is largely underexplored.
About Sun Summit
Sun Summit Minerals (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) is a mineral exploration company focused on the discovery, expansion and advancement of district scale gold and copper assets in British Columbia. The Company's diverse portfolio includes the JD and Theory projects in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.
Further details are available at www.sunsummitminerals.com.
References
- Hawkins, P.A. (1998), 1997 Exploration Report on the Creek Zone for Antares Mining and Exploration Corporation and AGC Americas Gold Corporation, JD Property, Toodoggone River Area, Omineca Mining Division, Internal Report #98-065-1.
- Davis, J.W., and Jamieson, M.D. (1998), Drilling and Geophysical Report on the M.H. Mineral Clain Group, Toodoggone District, Assessment Report Indexing System, Report 25757, https://apps.nrs.gov.bc.ca/pub/aris.
Link to Figures
On behalf of the board of directors
Niel Marotta
Chief Executive Officer & Director
info@sunsummitminerals.com
For further information, contact:
Matthew Benedetto, Simone Capital
mbenedetto@simonecapital.ca
Tel. 416-817-1226
Forward-Looking Information
Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, the timing of and size and scope of the drill program at the JD property; the Company's exploration plans, expectations and forecasts. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: the Company's ability to complete the drill program as currently contemplated; risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. The forward-looking statements contained in this news release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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.
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Silver47 Highlights Expansive High-Grade Gold and Silver System at the Kennedy Project, Nevada
Samples up to 44.5 g/t Gold, 3,037 g/t Silver, and 8.56% Copper
Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to provide assay results from a recently completed rock sampling program at its high-grade Kennedy gold-silver Project in Nevada (the "Kennedy Project"). Results demonstrate strong prospectivity for high-grade gold and silver mineralization across the under-explored project.
Highlights:
- High-Grade Assay Results: Select rock samples returned exceptional grades, including:
- 21.9 g/t Au, 2,336 g/t Ag, 8.56% Cu (Borlasca Vein)
- 6.2 g/t Au, 3,037 g/t Ag (Fourth of July Vein)
- 40.4 g/t Au, 232 g/t Ag (Gold Note Vein)
- 39.4 g/t Au, 370 g/t Ag (Cricket Vein)
- 12.7 g/t Au, 305 g/t Ag (Accident Vein)
- 15.9 g/t Au, 323 g/t Ag (Coyote Vein)
- 19.5 g/t Au, 273 g/t Ag (Danneburg Vein)
- 30.4 g/t Au, 148 g/t Ag (Imperial Vein)
- 3.1 g/t Au, 583 g/t Ag (Trail/Senator Vein)
- 44.5 g/t Au (Hidden Treasure Vein)
- Expanded Land Holdings: Silver47 has staked substantial additional land around the mineralized vein system covering all prospective open ground around the Kennedy district, which is not shown on Figure 1.
- Large High-Grade Vein Footprint: Sampling across a 3 km x 2 km area reveals widespread gold and silver mineralization, establishing the Kennedy Project as a high-potential precious metal district in Nevada.
- Undrilled Nevada Vein Field: Approximately 22 km of near-surface veins, largely untouched by modern exploration, present a compelling opportunity for significant discoveries.
- Robust Exploration Program Planned: A multidisciplinary program including geological mapping, rock chip sampling, ground geophysics, and soil-geochemical surveys is panned for this fall to pinpoint high-priority drill targets.
- Red Mountain Project Drill Program Progress: 12 holes have been completed at the Dry Creek and West Tundra Flats deposits where zones of massive, semi-massive and disseminated sulfides have been intersected in step-out and infill holes. Assays are pending and drilling continues.
Galen McNamara, CEO, stated: "Our exploration at the Kennedy Project is revealing high-grade gold and silver targets across a 22 km network of largely untested veins. Having acquired this project by claim staking last year, it is also royalty free. These initial results validate our acquisition strategy and position the district as a unique discovery opportunity in Nevada. Concurrently, drilling at our Red Mountain project in Alaska is progressing well, with drilling intersecting promising massive sulfide zones. We look forward to sharing assay results as they become available to showcase the strength of our American project portfolio."
Figure 1. Plan Map of Kennedy Project.
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Figure 2 (see attached figure). Disseminated, banded and massive sulfide mineralization featuring pyrite, pyrrhotite, chalcopyrite, sphalerite and galena in hole DC25-110 from the Red Mountain, Alaska. Photo is not intended to be representative of broader mineralization.
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Table 1: Rock assay highlights
| Sample ID | Zone | Au (g/t) | Ag (g/t) | Type | Easting* | Northing* |
| 351902 | Accident | 12.7 | 305 | dump | 437216 | 4459227 |
| 722881 | Accident | 8.2 | 78 | dump | 437118 | 4459331 |
| 351903 | Accident | 0.9 | 107 | dump | 437215 | 4459255 |
| 722894 | Borlasca | 3.2 | 258 | dump | 436104 | 4457845 |
| 722891 | Borlasca | 5.3 | 68 | outcrop | 436211 | 4457910 |
| 722893 | Borlasca | 21.9 | 2,336 | dump | 436214 | 4457907 |
| 722896 | Borlasca | 6.3 | 107 | dump | 436272 | 4457827 |
| J486215^ | Borlasca | 17.2 | 932 | dump | 436223 | 4457904 |
| 722875 | Cricket | 11.3 | 322 | outcrop | 437134 | 4459636 |
| 722872 | Cricket | 32.7 | 251 | dump | 437115 | 4459666 |
| 722871 | Cricket | 39.4 | 370 | dump | 437102 | 4459688 |
| 722870 | Cricket | 34.0 | 293 | dump | 437092 | 4459690 |
| 722869 | Cricket | 14.1 | 162 | subcrop | 437081 | 4459715 |
| 722873 | Cricket | 11.9 | 148 | outcrop | 437120 | 4459659 |
| 722868 | Cricket | 12.1 | 47 | dump | 437068 | 4459735 |
| 350137 | Cricket | 17.7 | 28 | dump | 437179 | 4459515 |
| 350134 | Cricket | 6.8 | 200 | dump | 437169 | 4459546 |
| 722878 | Danneburg | 3.8 | 326 | dump | 437281 | 4460597 |
| 350143 | Danneburg | 19.5 | 273 | dump | 437359 | 4460451 |
| 722876 | Danneburg | 3.1 | 116 | dump | 437391 | 4460431 |
| 350141 | Danneburg | 7.2 | 41 | subcrop | 437398 | 4460443 |
| 351908 | Fourth of July | 6.2 | 3,037 | float | 437186 | 4458978 |
| 351909 | Fourth of July | 9.6 | 2,360 | dump | 437176 | 4458993 |
| 722885 | Fourth of July | 2.6 | 575 | dump | 437091 | 4458997 |
| 722886 | Fourth of July | 11.0 | 239 | dump | 437121 | 4458989 |
| 351911 | Fourth of July | 4.6 | 315 | outcrop | 437203 | 4458947 |
| 722883 | Fourth of July | 4.1 | 211 | dump | 437122 | 4459101 |
| 351910 | Fourth of July | 1.9 | 454 | subcrop | 437155 | 4458999 |
| E923275^ | Gold Note | 11.1 | 1,020 | dump | 435331 | 4458209 |
| J486223^ | Gold Note | 20.1 | 114 | dump | 435391 | 4458114 |
| 350106 | Gold Note | 40.4 | 232 | dump | 435309 | 4458224 |
| 350101 | Gold Note | 10.9 | 724 | dump | 435319 | 4458213 |
| 350104 | Gold Note | 0.6 | 419 | dump | 435327 | 4458219 |
| 350102 | Gold Note | 5.0 | 122 | dump | 435322 | 4458215 |
| J486240^ | Gold Note | 5.4 | 32 | dump | 435330 | 4458222 |
| J486241^ | Gold Note | 8.4 | 8 | float | 435450 | 4458297 |
| 350122 | Hidden Treasure | 10.7 | 53 | subcrop | 435757 | 4458713 |
| 351914 | Hidden Treasure | 44.5 | 15 | dump | 435650 | 4458845 |
| J486233^ | Hidden Treasure | 8.6 | 43 | dump | 435656 | 4458844 |
| 722889 | Hidden Treasure | 12.0 | 53 | dump | 435609 | 4458805 |
| 722890 | Hidden Treasure | 27.6 | 11 | float | 435668 | 4458776 |
| 722864 | Imperial | 30.4 | 148 | dump | 436355 | 4459530 |
| 350133 | Imperial | 3.3 | 226 | dump | 436325 | 4459715 |
| 350130 | Imperial | 11.1 | 32 | dump | 436346 | 4459567 |
| 722867 | Imperial | 16.8 | 17 | dump | 436324 | 4459657 |
| 722860 | Imperial | 7.0 | 80 | dump | 436655 | 4458931 |
| 722861 | Imperial | 8.4 | 34 | dump | 436655 | 4458930 |
| 350131 | Imperial | 5.9 | 5 | subcrop | 436334 | 4459596 |
| 350129 | Imperial | 8.6 | 77 | dump | 436347 | 4459351 |
| J486238^ | Regional | 3.1 | 100 | dump | 435979 | 4457773 |
| 350121 | Regional | 5.7 | 21 | subcrop | 434848 | 4459187 |
| E923273^ | Trail/Senator | 3.1 | 583 | dump | 436605 | 4458764 |
| 722855 | Trail/Senator | 8.6 | 133 | dump | 436603 | 4458763 |
| 350123 | Trail/Senator | 6.4 | 43 | dump | 436607 | 4458764 |
| 722854 | Trail/Senator | 8.5 | 78 | dump | 436605 | 4458762 |
| 722857 | Trail/Senator | 1.9 | 114 | outcrop | 436538 | 4458813 |
| 722859 | Trail/Senator | 1.6 | 134 | outcrop | 436512 | 4458842 |
| 350120 | Coyote | 2.9 | 759 | float | 435061 | 4458685 |
| J486225 | Coyote | 16.0 | 64 | dump | 435227 | 4458717 |
| 350115 | Coyote | 2.9 | 103 | subcrop | 435201 | 4458738 |
| 350118 | Coyote | 1.7 | 107 | float | 435062 | 4458678 |
| E923276^ | Coyote | 15.9 | 323 | subcrop | 435052 | 4458607 |
| 350116 | Coyote | 10.9 | 36 | dump | 435224 | 4458716 |
| E923278^ | Coyote | 10.0 | 33 | dump | 435227 | 4458716 |
Â
*NAD83 Z 11
^see references for sources of data
Defining Widespread High-Grade Gold-Silver Mineralization
A reconnaissance-style prospecting and sampling program was recently completed by Silver47's exploration team on unpatented mining claims of the Kennedy Project. The purpose of the program was to confirm the presence of high-grade gold-silver-base metal mineralization across eleven targets (Figure 1). Areas of historic surface workings (e.g., blast pits and mine dumps) as well as outcrop, subcrop and float were sampled. In total, 109 samples were collected (see April 24th, 2025 news release for first batch of results). Data from over 40 historic rock samples were also compiled and combined with the new data creating a rock geochemical database of over 150 samples (Figure 1).
Selective sampling across the eleven targets (Figure 1) demonstrates the scale and high-grade potential of vein-systems typical of the Kennedy Project. Highlights from recent and historical sampling include:
Gold Note: Most of the historic gold production in the Kennedy district was from the Gold Note mine. The mine was centered on a series of high-angle, broadly east-west striking quartz veins hosted in volcanic and sedimentary rocks and traced for over 350 m. Waste material from the mine has been stacked in dumps near the main Union and No. 2 adits (Figure 1). Sampling of these dumps returned grades up to 40.4 g/t Au with 232 g/t Ag and 11.1 g/t Au with 1,020 g/t Ag (Table 1) and the 14 new and compiled samples average 7.9 g/t Au with 193 g/t Ag. These results agree with historic mine grades which were reportedly as high as 15.5 g/t Au with 311 g/t Ag¹.
Borlasca: The east-west trending Borlasca target comprises a series of northwest to west striking structures centered approximately 900 m east of the Gold Note mine. Veins and oxidized vein-breccias are hosted in porphyritic rhyolite associated with strong silicification. Samples of dump and outcrop from across the three main Borlasca veins have returned up to 21.9 g/t Au with 2,336 g/t Ag with 8.56% Cu. The strong copper mineralization in many of the Borlasca samples suggest strong prospectivity for copper mineralization across this part of the Kennedy district.
Coyote: The northwest-striking Coyote vein system is centered approximately 600 m north of the Gold Note mine. Veins and quartz-cemented breccias of the Coyote target are hosted primarily in granite and quartz-phyric rhyolite. Samples of dump material, subcrop and float from the main Coyote target returned grades up to 15.9 g/t Au with 323 g/t Ag and 2.9 g/t Au with 759 g/t Ag (Table 1). Sampling 600 m along strike to the northwest returned 5.7 g/t Au with 20.8 g/t Ag (sample 350121, Table 1).
Cricket-Accident trend: The north-northwest striking Cricket target is centered approximately 2.2 km northeast of the Gold Note mine (Figure 1). The vein-system is hosted near a contact between andesite and monzonite and consists of brecciated and drusy quartz veins and veinlets. The Cricket vein has been sampled (outcrop and dumps) for over 200 m along strike with grades up to 39.4 g/t Au and 370 g/t Ag (15 samples average 12.3 g/t Au and 132 g/t Ag). High-grade gold and silver mineralization at Cricket is locally associated with strong lead and antimony mineralization (up to 3.0% Pb and 3,540 ppm Sb). The Accident vein, 300 m along strike to the south of Cricket, is interpreted to be part of the same 800 m north-trending vein-system. Sampling at Accident returned up to 12.7 g/t Au with 305 g/t Ag (Table 1). Further sampling along trend north of Cricket towards the historic Wall Street mine and along trend south of Accident is warranted.
Fourth of July: The Fourth of July vein sets are hosted in strongly oxidized granite/monzonite and comprise quartz-rich breccias and veins. Sampling of outcrop, subcrop, dump and float along a 200 m trend at Fourth of July returned up to 6.2 g/t Au with 3,037 g/t Ag and 9.6 g/t Au with 2,360 g/t Ag. The veins may represent a possible southern offset of the Cricket-Accident trend of veins and supports the strong prospectivity for high-grade gold-silver mineralization in broadly north-trending structural corridors.
Trail-Imperial trend: The historic Trail/Senator mine represents the southern extent of the broadly north-trending Trail-Imperial corridor. The high-grade Imperial Mine represents the northern extent of the 1.0 km long corridor. The Trail/Senator target comprises quartz-rich veins and breccias with associated wall rock hosted quartz-stringers and veinlets. Sampling of dumps and outcrop returned up to 8.61 g/t Au with 133 g/t Ag and 6.4 g/t Au with 43.1 g/t Ag. At Imperial, primarily hosted in quartz monzonite sampling returned up to 30.4 g/t Au with 148 g/t Ag and 16.8 g/t Au with 17.2 g/t Ag. Similar to the parallel Cricket-Accident trend, the Trail-Imperial corridor demonstrated strong prospectivity for high-grade gold and silver mineralization along north-trending structural corridors.
Hidden Treasure-Chromo trend: The Hidden Treasure set of mineralized veins are centered 800 m north of the Gold Note mine and hosted primarily in volcanics and breccias near the contact with granite. Together with the Chromo target (Figure 1), 300 m along strike to the north, the mineralized Hidden Treasure-Chromo trend comprises high-grade gold-bearing breccias with samples up to 44.5 g/t Au and 27.6 g/t Au (7 samples at Hidden Treasure average 15.6 g/t Au and 31 g/t Ag).
Danneburg: The Danneburg group of mineralized vein occurrences, covering a 200 by 150 m area, is centered approximately 3.0 km northeast of the Gold Note mine. Drusy and oxidized veins hosted in silicified and oxidized granite returned up 19.5 g/t Au with 273 g/t Ag and 3.8 g/t Au with 554 g/t Ag in dump material. Further work is required at Danneburg to define the strike-extent of the dominant north- and northwest-striking vein-sets.
Based on the results from the preliminary sampling and prospecting program, an additional 4,000 acres of unpatented mining claims have been acquired through staking. The strategic claims cover all prospective open ground around the Kennedy district.
Next Steps
The extensive mineralized corridors across the Kennedy Project with multiple high-grade targets have not yet seen any systematic modern exploration. A multidisciplinary program consisting of geological mapping, ground geophysics (magnetics and induced polarization) and soil and rock geochemical surveys are planned to refine existing targets and define new drill targets. Follow-up exploration is set to commence this fall.
Analytical and Quality Assurance and Quality Control Procedures
Rock samples were sent to Paragon Geochemical Laboratories in Sparks, Nevada for preparation and analysis. Paragon meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Samples were analyzed for gold via fire assay with an MS finish ("AU-FA30"), and for silver via inductively-coupled plasma, mass spectroscopy (ICP-MS) after four-acid digestion ("48MA-MS"). Samples assaying over 8 ppm Au were re-run via fire assay for Au with a gravimetric finish ("AU-GR30"). Samples that assayed over 100 ppm Ag (0.01%), 1,000 ppm Cu (1%), Zn (1%) and Pb (1%) were re-run via inductively coupled plasma optical emission spectroscopy ("OLMA-OES").
Historical data referenced herein (e.g., rock samples2), including but not limited to assay results and geological interpretations from previous exploration activities, have been sourced from publicly available records, archived reports, and third-party databases believed to be reliable. However, Silver47 has not independently verified this historical data through resampling, re-assaying, or other confirmatory methods. As such, the Company cautions that this historical information has not been verified by a Qualified Person. The Company is not treating historical information as current and it is being used to guide exploration only.
Marketing Agreement
Effective September 3, 2025, the Company has engaged Sideways Frequency LLC ("SFLLC") to provide certain marketing services to the Company. Under the agreement, the Company will pay SFLLC $250,000 USD for a 12-month term. The Company may elect to renew or extend the engagement at any point during the term. The marketing services will include, but are not limited to, email campaigns, native advertising, display ads, lead generation, creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns. The Company has granted 80,000 stock options to SFLLC at a strike price of $0.83 with a three-year term. The options vest quarterly over a period of one year.
SFLLC is based in Utah, USA and is at arm's length to the Company. SFLLC and its principals have no present, direct or indirect interest in the Company or its securities, nor any right or present intention to acquire such an interest except as otherwise provided herein. The agreement and the option grant remain subject to TSX Venture Exchange approval.
Technical Disclosure
The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.
Rock-chip, dump, float and subcrop samples are selective by nature and may not be representative of mineralization across the Kennedy Project.
References
¹Klopstock, Paul (1913) The Kennedy mining district, Nevada, American Institute of Mining Engineers Bulletin, v. 77. p. 1041-1046
2Data reported by West Cirque Resources, WCQ TSX-V NRs September 13, 2011 and November 22, 2011
About Silver47 Exploration
Silver47 Exploration Corp is a mineral exploration company, focused on uncovering and developing silver-rich deposits in North America. The Company is creating a leading high-grade US-focused silver developer with a resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz at 333 g/t AgEq indicated. With operations in Alaska, Nevada and New Mexico, Silver47 Exploration is anchored in America's most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. The Company trades on the TSXV under the ticker symbol AGA and OTCQB under the ticker symbol AAGAF.
For more information about the Company, please visit www.silver47.ca and see the Technical Report filed on SEDAR+ (www.sedarplus.ca) and titled "Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX Geoscience Ltd."
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On Behalf of the Board of Directors
Mr. Galen McNamara
CEO & Director
For investor relations
Giordy Belfiore
604-288-8004
gbelfiore@silver47.ca
No securities regulatory authority has either approved or disapproved of the contents of this release. 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 STATEMENTS
This news release includes forward-looking information regarding, among other things, the timing, scope and objectives of planned exploration at the Kennedy Project (including mapping, geophysics, geochemical surveys and target generation), potential future drilling, and the anticipated timing of assay results at Red Mountain. Forward-looking information is based on a number of assumptions that, while considered reasonable by management at the date hereof, are inherently subject to business, technical and operational uncertainties. Assumptions include the availability of personnel and equipment, access to the property, receipt of permits and approvals, budget availability, and that historical information compiled will be useful in guiding exploration. Material risk factors that may cause actual results to differ materially include changes in exploration plans; results of field work that differ from expectations; access, permitting or regulatory risks; availability of contractors and laboratory turn-around times; weather; commodity price volatility; and the risks described in the Company's public filings on SEDAR+. The Company does not undertake to update any forward-looking information except as required by applicable securities laws." (meets all four required elements).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265057
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FPX Nickel Completes Additional Large-Scale Mineral Processing Pilot Testwork to Produce Awaruite Concentrate to Support Discussions with Prospective EV Battery Supply Chain Partners
FPX Nickel Corp. (TSXV: FPX), (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has successfully completed another large-scale mineral processing pilot testing campaign for the Baptiste Nickel Project (" Baptiste " or the " Project "). Building on the success of three previous pilot testing campaigns, a production run was completed to produce bulk samples of awaruite concentrate which will be used to verify the suitability of using this concentrate as a feedstock in third-party nickel refineries. Samples will be provided to selected prospective downstream partners — most notably pCAM producers, battery companies, and automakers — who typically secure nickel units directly and contract refiners to process feedstocks on their behalf. This reflects an established industry model, supporting end users' pursuit of supply security, traceable sourcing, and low-carbon production.
"The ability to process awaruite concentrate through existing nickel refineries provides us with greater strategic flexibility, in addition to its potential use directly in stainless steel or as feedstock for the development of a new integrated refinery to produce battery-grade nickel sulphate," commented Martin Turenne , FPX Nickel's President and Director. "This flexibility strengthens our position in strategic discussions with automakers, battery companies, and other downstream partners, and places awaruite alongside established high-grade nickel intermediates such as MHP and matte as a disruptive new source of nickel for the EV supply chain."
Figure 1 – Samples of Awaruite Concentrate Produced from Baptiste's Production Run Pilot Plant
Background
The Baptiste processing strategy leverages awaruite's distinct properties in a simple, yet robust flowsheet. The front-end of the flowsheet utilizes magnetic separation to create a "magnetics-rich" concentrate of awaruite and magnetite – a process made effective due to awaruite's intense ferromagnetism and high density. The back-end of the flowsheet then utilizes conventional froth flotation to separate awaruite from magnetite – a process made effective due to awaruite's active surface properties and magnetite's general lack of floatability. Finally, based on awaruite's very high nickel content, a very high-grade nickel concentrate (60% nickel) can be produced.
Downstream of the mineral processing plant, awaruite's properties continue to provide distinct advantages, including unparalleled downstream market flexibility. Unlike conventional nickel concentrates, which typically have high sulphur content, Baptiste's awaruite concentrate is nearly sulphur-free and low in deleterious elements, allowing it to bypass smelting and be used directly in stainless steel fabrication. Alternatively, the Baptiste awaruite concentrate is also an ideal feedstock for the production of high-purity, battery-grade nickel sulphate for the electric vehicle (" EV ") supply chain.
Figure 2 – Potential Product Integration Routes for the Baptiste Awaruite Concentrate
Integration of the Baptiste awaruite concentrate into the EV supply chain can be achieved through two routes as shown in Figure 2. The first integration route is through the construction of a bespoke integrated hydrometallurgical refinery to produce battery-grade nickel sulphate from Baptiste concentrate. The Company has recently demonstrated the technical and economic viability of this (as described in the FPX's March 31st, 2025 news release) and has recently completed a production run of nickel sulphate (as described in the FPX's June 17th, 2025 news release) to provide samples to selected prospective downstream partners.
A second integration route is for the Baptiste awaruite concentrate to be refined in an existing third-party nickel refinery. Although nickel refineries are generally sensitive to variations in feedstocks, awaruite concentrate can be used to supplement a portion of the feedstock, particularly for nickel refineries designed to treat both mixed hydroxide precipitate (" MHP ") and nickel matte — the two most commonly interchangeable nickel intermediates. Awaruite concentrate has properties that position it between MHP and matte — with fewer impurities than MHP but more than matte, and requiring less aggressive leaching than matte but more than MHP — making it broadly comparable to both and a credible feedstock for nickel refineries. The production of bulk quantities of awaruite concentrate will enable this strategy to be validated by prospective downstream partners through direct testing of awaruite concentrate.
In addition to supplying refiners directly, awaruite concentrate can also be marketed to end users such as pCAM producers, battery companies, and automakers. Under this established industry model, end users purchase and hold the nickel units while established third-party refiners perform the conversion to nickel sulphate under tolling arrangements. This dual-path approach provides flexibility in commercialization while reinforcing awaruite's compatibility with existing refining infrastructure.
Pilot Plant
The Company re-engaged Corem ( Quebec, Canada ) to operate the pilot plant, building on their experience conducting two previous successful piloting programs for FPX. A total of 23 tonnes of material were processed, resulting in approximately 2.2 days of continuous run-time at an average rate of 430 kg/h in the primary grinding and magnetic separation circuits. Using the optimized flowsheet developed in the prior campaign (as described in FPX's April 30, 2024 news release), this more recent campaign achieved the targeted recoveries, concentrate nickel grade and impurity levels, consistent with expectations and further demonstrates the reliability of the Baptiste process. Figure 1 shows the first batch of concentrate produced from this campaign while Table 1 shows the concentrate composition.
Table 1 – Awaruite Concentrate Composition
| Element | Nickel | Cobalt | Iron | Sulphur | Magnesium | Copper |
| Grade (%) | 64 | 1.1 | 26 | 0.3 | 1.6 | 0.4 |
Qualified Person
The metallurgical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101: Standards of Disclosures for Minerals Projects of the Canadian Securities Administrators (" NI 43-101 "). Testwork was supervised, reviewed, and verified by Kyle D. Marte , P.Eng., FPX Nickel's Director of Metallurgy and a "Qualified Person" as defined by NI 43-101.
About the Baptiste Nickel Project
The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.
FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders. In 2024, the Province of British Columbia identified the Baptiste Nickel Project as the first project to be included in the Province's new Critical Minerals Office ( "CMO" ) concierge service initiative, a provincial strategy action to enable the prioritization of critical minerals projects in B.C. The CMO initiative is providing an excellent structure to proactively identify and address issues and opportunities ahead of the Project's entry into the environmental assessment process.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ .
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne , President, CEO and Director
Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE FPX Nickel Corp.
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