The Conversation (0)
(TheNewswire)
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Avrupa Minerals Ltd. (TSXV:AVU)is pleased to announce that it has entered into a definitive option agreement with Western Tethyan Resources to advance the Slivova Gold Project, located in the productive Vardar Mineral Trend in the Republic of Kosovo, to a possible mining solution. WTR can earn-in to 75% of the Project by funding exploration and development for Euro 1,800,000 over three years, and then a further 10% by making certain milestone and success payments, producing an Environmental Impact Statement, delivering a Feasibility Study, and completing a Mining License application.
- The Definitive Agreement (“DA”) outlines a path towards potential gold production from the Slivova deposit;
- Western Tethyan Resources (“WTR”) completed a robust Due Diligence (“DD”) review, a Concept Study, and continues to work on a Preliminary Economic Assessment (“PEA”), including a metals resource update for the Slivova deposit;
- WTR can earn-in to 85% of the Slivova Project.
To date, WTR has spent more than Euro 275,000 for Due Diligence, development of a Concept Study, and continuing work on a PEA. WTR is a private exploration company based in London and Prishtina, Republic of Kosovo, and is 75% owned by London AIM-listed Ariana Resources (“Ariana”).
Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, “Western Tethyan has already made significant progress towards defining a possible mining solution at Slivova. We are truly excited about the positive progress in the ongoing PEA and Concept Studies, as well as for getting started in a new phase of exploration and resource definition. WTR is working on a new resource update, and we expect information later this quarter.”
Mentor Demi, Managing Director of Western Tethyan Resources, added, “Alongside an aggressive exploration programme throughout the West Tethyan Belt, we are actively seeking acquisition opportunities. Acquisition of the Slivova gold deposit is a step towards building Western Tethyan Resources into a development company, as well, and the Slivova Mine as the first modern mine in Kosovo since the 1920’s.”
Dr. Kerim Sener, Managing Director of Ariana Resources, stated, “The completion of this agreement formalizes a process we had already embarked upon in March following the successful completion of the Project due diligence. We are already nearing completion of a revised Mineral Resource Estimate for Slivova, and we look forward to announcing this work in due course.
In addition, further work has been underway at the local community level in order to increase awareness of the project and its merits. We are investigating opportunities to deliver a low-impact mining project which aims to achieve a new standard for mining in Kosovo and potentially become a strategic hub of operations for the company in the country.”
About Slivova
The Slivova exploration license covers 30.51 km2 of prospectable land surrounding the Slivova gold deposit. The license is valid for 7 years from May 2022. Outside of the deposit itself, much of the property is under-explored. Avrupa commissioned an initial NI 43-101 resource study in 2016 and reported an indicated mineral resource of 640,000 mt @ 4.8 g/t gold and 14.68 g/t silver for a total of 98,700 ounces of gold and 302,000 ounces of silver. Slivova Maiden Resource, 2016
WTR is currently updating the Mineral Resource Estimate (“MRE”) to JORC standards, and Avrupa will follow suit by transforming the JORC estimate to a NI 43-101 resource estimate. The companies expect to be able to report the new MRE during Q2 2023. The new evaluation will encompass results from drilling subsequent to the 2016 report, re-interpretation of previous geological information from surface and trench mapping and sampling, and thorough review of all historic core.
As noted in a previous AVU news release, AVU and WTR agree to Proceed, there are additional nearby and distal targets within the new Slivova license. There are known zones of mineralization close to the main Slivova deposit that WTR will need to drill, and we can expect upgrade work on a number of distal targets around the license in the coming field season.
Figures 1 and 2. Maps showing location of Slivova in Kosovo, along with target areas to be upgraded. New license is shown as a red polygon. The names in northwest quadrant are historic Trepça base metal mines
Terms of the Agreement
Under the terms of the Definitive Agreement, WTR will have the right to acquire, in multiple stages, up to 85% of the Slivova project, by completing a series of exploration and development milestones and making staged payments to AVU.
On Closing
- Euro 35,000 cash payment upon signing the Definitive Agreement on/about March 1, 2023. (Completed)
Earn-In Phase
Stage 1:
- Euro 30,000 cash payment on September 1, 2023;
- If WTR elects to enter the Definitive Agreement, it will invest Euro 800,000, during first two years from the effective date (minimum of Euro 150,000 must be spent by September 1, 2023, post DD Phase) for exploration, drilling, baseline environmental and social surveys, landowners, etc., for 51% of the Project. (Underway)
Stage 2:
- After completion of Stage 1, during the third year from the Effective Date, WTR will invest Euro 1,000,000 for NI 43-101 resource estimation, commencement of full Environmental Impact Statement (“EIS”), etc., for 75% of the Project.
Stage 3:
- During fourth and fifth year from the Effective Date, WTR must complete the EIS, Feasibility Study (“FS”), and Mining License application, for 85% of the Project.
Stage 4:
- WTR completes success payments to previous JV partner, Byrnecut International Ltd., accordingly:
- Euro 125,000 in cash within 30 days of the first to occur of: 1) Completion of a positive FS (minimum 15% IRR) or; 2) Avrupa or related party making a decision to proceed with development of a mining operation within the license area;
- Euro 125,000 within 30 days of issuance of a mining license for the Project;
- Euro 125,000 within 30 days of commencement of mine construction within the license area;
- 100 troy ounces of gold within 30 days of commencement of commercial production (“CCP”), then increasing by 75 troy ounces per year until and including the third anniversary of commercial production when 325 troy ounces will be delivered.
- Avrupa participates in the mine build or dilutes to 1% NSR.
Western Tethyan Resources Ltd. is a UK-registered, mineral exploration and development company focused on South East Europe. The company has a strategic alliance with Newmont Corporation and Ariana Resources and is currently focused on exploration for major copper-gold deposits in the Lecce Magmatic Complex and Vardar Belt in Kosovo. The company is assessing several other exploration project opportunities across Eastern Europe, targeting major copper-gold deposits across the porphyry-epithermal transition.
Ariana Resources plc is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include gold production in Turkey and copper-gold exploration and development projects in Cyprus and Kosovo.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one license in Portugal, the Alvalade VMS Project, presently optioned to Sandfire MATSA in an earn-in joint venture agreement. The Company now holds one exploration license covering the Slivova gold prospect in Kosovo, and is actively advancing four prospects in central Finland through its in-process acquisition of Akkerman Finland Oy. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal, Finland, and Kosovo. The Company continues to seek and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com.
On behalf of the Board,
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
Neither 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.
Click here to connect with Avrupa Minerals Ltd. (TSXV:AVU) to receive an Investor Presentation
AVU:CA
Avrupa Minerals Starts Drilling at Kangasjarvi, Central Finland
Vancouver, BC, October 16, 2024 TheNewswire Avrupa Minerals Ltd. (TSX-V: AVU) is pleased to announce that initial scout drilling at the Kangasjärvi volcanogenic massive sulfide target, located in the Pyhäsalmi Mining District of central Finland, started during the past week. The Company plans to drill two holes, totaling up to 1,000 meters, on the first of two strong, previously un-tested, geophysical targets located in close proximity to historic mining at the location.
During the mid-1980's, Finnish mining company Pyhäsalmi Mine Oy exploited, via open pit, a small high grade massive sulfide deposit with an in-house calculated resource of approximately 300,000 mt @ 5.4% zinc. The property had remained dormant and un-explored since that time until Akkerman Finland Oy (AFOy—49% Avrupa Minerals, 51% Akkerman Exploration BV) acquired the exploration rights in 2022. AFOy performed an airborne electromagnetic survey (SkyTEM) covering the general mine area and nearby mineral targets, and producing two standout EM conductors close-in to the old mine, but in areas where there has been no historic drilling.
Figure 1. Two strong EM anomalies to be targeted on first-pass scout drilling at Kangasjärvi. Ideally, the Company hopes to drill two holes at the Kangas target and one hole at Kangas North. Difficult access to Kangas North may preclude drilling there, for now. Flight lines are approximately 100 meters apart, and distance between the two conductors is about 700 meters. (Courtesy of AFOy)
Click Image To View Full Size
Figure 2. Cross section, looking NNW, of the two EM anomalies with general drilling locations. The conceptual drill hole locations in the Kangas main EM target, are marked as white lines. Also shown are traces of previous holes drilled and the outline of the mined Kangasjärvi zinc deposit in red, between the two drill holes at Kangas Main. Advanced Maxwell geophysical modelling of the EM anomalies yielded a strong target plate which is depicted as a straight red line. (Courtesy of AFOy)
The main anomaly is located adjacent to the old workings, but across a prominent fault from the open pit-mined area. The Company plans to drill two "wildcat" exploration drill holes into this anomaly to test the recently-generated target. The first hole will be drilled from stratigraphically below the historic mineralization and fault directly into the conductor, while the second hole will be drilled from above the massive sulfide body and fault into the conductor Drill testing of the less-accessible Kangas North target will be subject to the outcome of these first two holes. Advanced geophysical modeling suggests the possible presence of mineralization in these two locations, along with several other locations on the property, to be tested at a later date. Avrupa expects that the drilling will take 4-6 weeks to complete.
Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, "We are excited to begin this first serious look at the potential for significant, polymetallic massive sulfide mineralization. While these first-pass drill holes are highly speculative, we do have good reason to think that there is further mineralization on the Kangasjärvi exploration permit, especially in the vicinity of previously-exploited mineralization. With our highly competent partner, AFOy, overseeing the drilling program, we are looking forward to the results of this initial drilling program at Kangasjärvi."
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one 49%-owned license in Portugal, the Alvalade VMS Project, presently optioned to Sandfire Portugal in an earn-in joint venture agreement. The Company holds one 100%-owned exploration license covering the Slivova Gold Project in Kosovo, optioned to Western Tethyan Resources, and is actively advancing four prospects in central Finland through its partnership with Akkerman Finland Oy (AFOy). Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal, Finland, and Kosovo. The Company continues to seek and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com .
On behalf of the Board,
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
Neither 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.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Avrupa Minerals Intersects Polymetallic VMS Mineralization at Sesmarias
(TheNewswire)
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SES24-054 cuts 41.2 meters of sulfide mineralization containing: 1.59% copper, 1.71% lead, 3.36% zinc, and 54.90 g/t silver.
- Includes 28.6 meters containing: 1.68% copper, 2.42% lead, 4.75% zinc, and 73.90 g/t silver.
SES24-053 cuts 13.15 meters of sulfide mineralization containing: 0.31% copper, 1.57% lead, 3.00% zinc, and 38.40 g/t silver.
- Includes 9.15 meters containing: 0.40% copper, 2.09% lead, 4.02% zinc, and 50.5 g/t silver.
Three of seven holes completed, with results from the first two included; results pending for third hole; fourth hole in progress.
Potential for two additional contingency holes; second drill on its way to the project.
Vancouver, BC, September 19, 2024 – TheNewswire - Avrupa Minerals Ltd. (TSXV: AVU) is pleased to announce the first set of analytical results from the present phase of drilling at the Sesmarias VMS Project in the Alvalade Joint Venture, Iberian Pyrite Belt, Portugal. The drilling program at Sesmarias is part of a joint venture between Avrupa Minerals and Sandfire Mineira Portugal, Unipessoal Lda. ("Sandfire Portugal"), a 100%-owned subsidiary of Minas de Aguas Teñidas, S.A. ("Sandfire MATSA") . Avrupa continues to operate the project through the JV entity PorMining Lda., and Sandfire Portugal continues to fund the exploration work.
At this time, The Company has completed three drill holes in the current Sesmarias Central program, totaling 1,715.4 meters, with a fourth hole in progress. We have seven holes planned, with the contingency of two additional holes to be drilled as/where needed. We expect a second drill in the near future to speed up the completion of this phase of drilling. To date, we have received analytical results from sampling of the first two holes (SES24-53 and SES24-054). Samples from the third hole (SES24-055) are now in the laboratory, and results are pending for these samples.
Paul W. Kuhn, President and CEO of Avrupa Minerals, stated, "These are exciting new assay results, as we continue to develop a potential high-grade polymetallic core zone in the SES Central area. The ongoing drilling program is designed to test for further high-grade copper and zinc-lead-silver mineralization along a 600-meter strike length in the Sesmarias Central zone. Extending both north and south of SES Central, known massive sulfide mineralization totals over 1,700 meters, and is open in both directions along the strike of the targeted, mineral-host black shales in the Sesmarias synform."
Results for SES24-054:
SES24-054 intercepts | |||||||||
From (m) | To (m) | Total (m) | Cu (%) | Pb (%) | Zn (%) | Ag (g/t) | |||
Geological Intercept | |||||||||
(includes Fault breccia, massive, semi-massive replacement, stockwork sulfides) | 377.2 | 418.4 | 41.2 | 1.59 | 1.71 | 3.36 | 54.90 | ||
including best copper intervals | incl. | 377.2 | 412.4 | 35.2 | 1.78 | ||||
incl. | 386.8 | 396.8 | 10.0 | 2.24 | |||||
Best Polymetallic Interval (total) | |||||||||
377.2 | 405.8 | 28.6 | 1.68 | 2.42 | 4.75 | 73.90 | |||
incl. | 385.8 | 393.8 | 8.0 | 1.90 | 4.98 | 9.78 | 131.30 | ||
Table 1. Results for SES24-054 demonstrate further potential for high grade copper and polymetallic mineralization in the hinge zone of the Sesmarias synform in the Central area. This intersect is located approximately 150 meters SE of SES23-047, drilled last year, which intersected 26.95 meters of 2.18% Cu, 2.58% Pb, 5.60% Zn, and 88.20 g/t Ag within a wider interval of 43.40 meters of 1.51% Cu, 2.15% Pb, 4.78% Zn, and 64.1 g/t Ag. ( SES23-047 results )
Click Image To View Full Size
Figure 1. Geological cross section 800 S, looking NW, showing mineralization in SES23-048 (western limb/hinge zone) and SES24-054 (hinge zone). See Figure 3 for location of this section.
Results for SES24-053:
SES24-053 intercepts | |||||||||
From (m) | To (m) | Total (m) | Cu (%) | Pb (%) | Zn (%) | Ag (g/t) | |||
Geological Intercept | |||||||||
Includes stockwork to semi-massive replacement sulfide mineralization | 439.70 | 452.85 | 13.15 | 0.31 | 1.57 | 3.00 | 38.4 | ||
incl. | 439.70 | 448.85 | 9.15 | 0.40 | 2.09 | 4.02 | 50.5 | ||
Table 2. Results for SES24-053 demonstrate polymetallic potential on the western limb of the Sesmarias synform, but perhaps distal from the hinge zone area. Similar zinc-rich, polymetallic mineralization is present in SES23-052, drilled last year, which cut the western limb some 470 meters SE of SES24-053. ( Sesmarias Results -- 2023 )
Click Image To View Full Size
Figure 2. Geological cross section 650 S, looking NW, showing mineralization in SES23-047 and SES24-053. See Figure 3 for location of this section.
Kuhn commented further, "Following the great copper and polymetallic results in SES24-054, and the strong zinc-lead-silver results in SES24-053, we are beginning to see a metal zonation centered in the SES Central hinge zone with high copper and associated base metals, transitioning outwards/upwards and along the limbs of the Sesmarias synform to more zinc-rich mineralization. Previous results in the SES North area show lower copper and stronger zinc-lead in the eastern limb of the synform, but we have yet to cross the hinge zone in the north, nor much of the western limb. The present drilling program may shed more light on the perceived metal zonation within the body of mineralization, and we look forward to more strong results."
Click Image To View Full Size
Figure 3. Contour map showing 2024 new and planned drill hole collar locations in red color and inferred massive sulfide mineralization, using drillhole interval grade (CuEq) as an exploration targeting tool . The aim of the current phase of drilling is to expand the orange-red zone in the SES Central area, and improve continuity of the high-grade, copper and polymetallic mineralization over a strike length of 600 meters, and forming a central core to the deposit.
Notes concerning Figure 3. We use CuEq strictly as a proxy for total metal content, and as such, simply as an exploration targeting tool. In no way, are we commenting on a possible resource size or value. When reporting drill results, we utilize only individual metals' values, as reported by an accredited laboratory.
We have designed the present drill program to upgrade the +2% CuEq zone in the SES Central sector and expand the potential +2% CuEq domain into the SES North sector where historic drilling is less concentrated. Yellow and green zones generally indicate areas where historic drilling missed the target and/or recent, better-targeted drilling is sparse.
For exploration purposes, using the results from Sesmarias drilling, 2014 to present, we calculate the total amount of copper, lead, zinc, silver, and gold, without respect or indication of any/all further downstream activities, followed by calculating the value of said total metal content (in this case, as of September 10, 2024, using: Cu = US$ 4.04/lb.; Pb = US$ 0.89/lb.; Zn = US$ 1.23/lb.; Ag = US$ 28.31/oz.; and Au = US$ 2513/oz.). Finally, we calculate the equivalent content of copper, or CuEq, by dividing the value of the total contained metals by the price of copper at that time. The shape and contouring of the inferred Sesmarias mineralization, using Leapfrog geological modeling software, is courtesy of the Sandfire Portugal geological team. While metals' prices have fluctuated in a fairly narrow range since the original CuEq calculations, the shape of the VMS target area remains much the same, as it depends on metal content, not the price.
Notes on analytical methods and quality contol. T he JV analyzed the mineralized material at ALS Global facilities in Europe. For certified, NI43-101 – acceptable assay results, we selected the ME-MS61 method performed by ALS Global at their Seville sample preparation facility and Loughrea, Ireland analytical laboratory.
Due to good drilling conditions at both holes, the drillers were able to extract HQ-size (63.5 mm) core for the entire mineral intercept to get a large example of the mineralization. Project personnel collected the oriented drill core twice daily from the drill rig and delivered the boxes directly to the Project core storage facilities in Grândola, Portugal. Here, after geological and geotechnical review of the core, a Project geologist measured and marked the core for sampling, with sample length averaging one meter depending on visual factors such as change in texture, style of mineralization, and/or host rock type. Project employees systematically and methodically halved the core, utilizing an electric core saw, and then placed one half of the split material for each sample length into separate, numbered, plastic sample bags. In order to get fast, first-hand results, Project personnel transported the core samples directly to the ALS Global preparation lab in Seville, Spain.
ALS prepared the samples, using their method PREP-31by, to crush to -2mm, split off a 1-kg sample, and to pulverize to 85% passing 75 microns. The pulverized material is shipped to their main European analytical laboratory located in Loughrea, Ireland. At the analytical laboratory, we requested the samples to be analyzed via the lab's ME-MS61 technique which uses a four-acid, near-total metals' extraction method, followed by analysis using the industry-standard technique of inductively coupled plasma – atomic emission spectroscopy (ICP-AES). Another split of the pulverized material is sent to the ALS lab in Vancouver for Sn-XRF05 pressed pellet, XRF analysis to obtain a full value for tin in the drill core.
At all times, prior to submission of the samples to ALS Global, Project or Sandfire MATSA personnel maintained supervision, oversight, and custody of the samples.
In addition to ALS Global in-house quality assurance/quality control (QA/QC) for all work orders, the Project conducted its own normal, internal QA/QC from results generated by the systematic inclusion of certified reference materials, blank samples and field duplicate samples. Project personnel reviewed and evaluated the analytical results from the quality control samples in all work orders, and confirmed that these results conform to industry best practice standards.
Sandfire Portugal is a 100%-owned subsidiary of Sandfire MATSA, a modern mining company which owns and operates the MATSA Mining Operations in the Huelva province of Spain. With a processing plant located to the north of the Iberian Pyrite Belt that sources ore from three underground mines, the Aguas Teñidas and Magdalena Mines in Almonaster la Real and the Sotiel Mine in Calañas, Sandfire MATSA produces copper, zinc and lead mineral concentrates that are sold from the port of Huelva.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one 49%-owned license in Portugal, the Alvalade VMS Project, presently optioned to Sandfire Portugal in an earn-in joint venture agreement. The Company holds one 100%-owned exploration license covering the Slivova Gold Project in Kosovo, optioned to Western Tethyan Resources, and is actively advancing four prospects in central Finland through its partnership with Akkerman Finland Oy. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal, Finland, and Kosovo. The Company continues to seek and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com .
On behalf of the Board,
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
Neither 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.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Avrupa Minerals Closes $350,000 Private Placement
(TheNewswire)
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Vancouver, BC TheNewswire - September 5, 2024 Avrupa Minerals Ltd. (TSXV:AVU) ("Avrupa" or the "Company") is pleased to announce that it has closed the private placement as announced on August 14 and August 23, 2024.
The Company raised $350,000 from the sale of 10,000,000 Units at $0.035 per Unit. Each Unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share for $0.10 per common share until September 5, 2027. The common share purchase warrants are non-transferable. All securities are subject to a four-month hold expiring on January 6, 2025. The Company did not pay any finders' fees.
A director of the Company purchased or acquired direction and control over a total of 371,429 Units under the private placement. The placement to this person constitutes a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).
The proceeds from the issuance of the Units will be used by the Company to fund drilling and exploration programs in Finland (approximately 130,000 euros/C$197,000), to fund ongoing operations in Portugal and Kosovo, and for general corporate purposes. None of the proceeds will be utilized for investor relations activities and no-payments will be made to non-arms-length parties of the Company.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one 49%-owned license in Portugal, the Alvalade VMS Project, presently optioned to Sandfire Portugal in an earn-in joint venture agreement. The Company holds one 100%-owned exploration license covering the Slivova gold prospect in Kosovo and is actively advancing four prospects in central Finland through its partnership with Akkerman Finland Oy. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal, Finland, and Kosovo. The Company continues to seek and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com .
On behalf of the Board,
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
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.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Avrupa Minerals $350,000 Private Placement is Fully Subscribed
(TheNewswire)
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Vancouver, BC TheNewswire - August 23, 2024 Avrupa Minerals Ltd. (TSXV:AVU) ("Avrupa" or the "Company") is pleased to announce that the $350,000 private placement of Units as announced on August 14 th 2024 is fully subscribed and will close shortly. The proceeds of the private placement financing will primarily be used to fund exploration and drilling at the projects in Finland and for working capital.
Private Placement
Subject to the approval of the TSX Venture Exchange (the "Exchange" or "TSXV"), the Company intends offer by way of a non-brokered private placement offering (the "Offering") 10 million units (each, a "Unit") at a price of $0.035.
Each Unit will be comprised of one common share in the capital of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at a price of $0.10 for a period of 36 months from the date of closing of the Offering. Finders' fees of 7.0% in cash will be paid to eligible parties.
The proceeds from the issuance of the Units will be used by the Company to fund drilling and exploration programs in Finland (approximately 130,000 euros/C$197,000), to fund ongoing operations in Portugal and Kosovo, and for general corporate purposes. None of the proceeds will be utilized for investor relations activities and no-payments will be made to non-arms-length parties of the Company.
Related parties, particularly Pacific Opportunity Capital Ltd., controlled by Mark T. Brown who is a director of Avrupa, that has supported the Company for many years, has subscribed for $28,000 of the Offering. The issuance of Units to the insider, pursuant to the Offering, is considered a related party transaction within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The Company has relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of these related party transactions on the basis that the fair market value (as determined under MI 61-101) of the transactions do not, in aggregate, exceed 25% of the market value of the Company.
Closing of the Offering is subject to all applicable regulatory approvals, including the approval of the Exchange. All securities are subject to a hold period of four months and one day in accordance with applicable securities laws.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one 49%-owned license in Portugal, the Alvalade VMS Project, presently optioned to Sandfire Portugal in an earn-in joint venture agreement. The Company now holds one 100%-owned exploration license covering the Slivova gold prospect in Kosovo and is actively advancing four prospects in central Finland through its in-process acquisition of Akkerman Finland Oy. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal, Finland, and Kosovo. The Company continues to seek and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com .
On behalf of the Board,
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
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.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Avrupa Minerals Announces $350,000 Private Placement
(TheNewswire)
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Vancouver, BC August 14, 2024 TheNewswire Avrupa Minerals Ltd. (TSXV:AVU) ("Avrupa" or the "Company") is pleased to announce that it intends to complete a $350,000 private placement of Units. The proceeds of the private placement financing will be used to fund exploration and drilling at the projects in Finland and for working capital. Avrupa has two other European drilling projects underway, or soon to be underway, this summer, one for copper and zinc and one for gold and silver, both funded by partners.
Private Placement
Subject to the approval of the TSX Venture Exchange (the "Exchange"), the Company intends to raise $350,000 by way of a non-brokered private placement offering (the "Offering") by issuing 10 million units (each, a "Unit") at a price of $0.035.
Each Unit will be comprised of one common share in the capital of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.10 per common share, for a period of 36 months from the date of closing of the Offering. Finders' fees of 7.0% in cash will be paid to eligible parties.
The proceeds from the issuance of the Units will be used by the Company to fund drilling and exploration programs in Finland, to fund ongoing operations in Portugal and Kosovo, and for general corporate purposes.
Closing of the Offering is subject to all applicable regulatory approvals, including the approval of the Exchange. All securities are subject to a hold period of four months and one day in accordance with applicable securities laws.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one 49%-owned license in Portugal, the Alvalade VMS Project, presently optioned to Sandfire Portugal in an earn-in joint venture agreement. The Company now holds one 100%-owned exploration license covering the Slivova gold prospect in Kosovo, and is actively advancing four prospects in central Finland through its in-process acquisition of Akkerman Finland Oy. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal, Finland, and Kosovo. The Company continues to seek and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com .
On behalf of the Board,
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
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.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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.
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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.