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Vancouver, B.C. February 2, 2023 Bathurst Metals Corp. ("Bathurst" or the "Company") ( TSXV:BMV ) ( OTC:BMVVD ) is pleased to announce it has entered into a definitive Option Agreement with arm's length vendor BCT Holdings Corp . ("BCT") to acquire an undivided 100% interest in 12 mineral claims known as the "Peerless Property". The Company previously entered into a letter of intent with BCT, the terms of which were announced on November 17, 2022.
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Vancouver, British Columbia TheNewswire - November 24, 2021 Bathurst Metals Corp. (" Bathurst " or the " Company ") (TSXV:BMV) (OTC:BMVVD) is pleased to announce it has closed its previously announced private placement. The Company issued 1,600,000 units (the " Units ") of securities at a price of $0.10 per Unit for aggregate gross proceeds of $160,000.00 (the " Offering "). Each Unit consists of one (1) common share and one (1) non-transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.20 for one year.
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Vancouver, British Columbia TheNewswire - November 17, 2022 Bathurst Metal Corp. (TSXV: BMV ) ( OTC:BMVVF) (" Bathurst " or the " Company ") Vancouver, British Columbia Bathurst Metals Corp. today announced it has entered into a binding letter of intent (" LOI ") with arm's length vendor BCT Holdings Corp (the " Vendor ") to acquire an undivided 100% interest in 12 mineral claims covering approximately 5,500 hectares located in the Bridge River Mining Camp of British Columbia.
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Vancouver, British Columbia TheNewswire - N ovember 3, 2021 Bathurst Metals Corp. (" Bathurst " or the " Company ") (TSXV:BMV) (OTC:MBVVF) is pleased to announce the following undertakings to provide working capital.
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October 27, 2022 TheNewswire Vancouver, British Columbia - Bathurst Metals Corp. ( the "Company") (TSXV:BMV) (OTC:BMVVF) announces that the Company will be completing a share consolidation on the basis of one (1) post-consolidation common share for every Two and one half (2.5) pre-consolidation common shares (the "Consolidation").
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Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. ("WPMI") has entered into a definitive Precious Metals Purchase Agreement (the "Gold Stream") with Montage Gold Corp. ("Montage") in respect to its Koné Gold Project located in Côte d'Ivoire (the "Project" or "Koné").
"With essential permits in place coupled with its impressive scale, we believe the Koné Project stands out as one of the premier gold assets in Africa , and we are excited to partner with Montage to deliver a full financing package for its development," said Randy Smallwood , President and CEO of Wheaton Precious Metals. "Supported by strong shareholder backing from the Lundin Group and Zijin Mining, the Koné Project is expected to significantly boost Wheaton's near-term annual gold production and further strengthen our peer-leading growth trajectory. We look forward to collaborating with Montage's outstanding team, whose extensive experience in West Africa has driven remarkable progress in de-risking the project and advancing it towards construction."
"We are pleased to partner with Wheaton to deliver our strategy of creating a premier African gold producer, commencing with the construction of our Koné project in Côte d'Ivoire which is set to become West-Africa's next sizable, long-life, low production cost gold mine," said Martino De Ciccio , CEO of Montage. "Moreover, both companies share a commitment to delivering strong social and economic benefits to host countries, which underpins our goal of becoming the partner of choice for our local stakeholders. With strong shareholder backing, along with our partnership with Wheaton, we look forward to continuing to grow our presence in West Africa ."
Transaction Key Terms
(All values in US$ unless otherwise noted)
Financing the Transactions
As at June 30, 2024 , the Company had approximately $540 million of cash on hand and believes that when combined with the liquidity provided by the available credit under the $2 billion revolving term loan and ongoing operating cash flows, WPMI is well positioned to fund the acquisition of the Gold Stream as well as all outstanding commitments and known contingencies and provides flexibility to acquire additional accretive mineral stream interests.
About Montage and the Koné Project
Montage Gold Corp. (TSXV: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship, fully permitted, Koné Project, located in Côte d'Ivoire. Koné is located approximately 350 kilometres north-west of Yamoussoukro , the political capital of Côte d'Ivoire, and approximately 600 kilometres north-west of Abidjan , the commercial capital of the country. The Project is situated near existing infrastructure, accessible year-round via road, and has access to ample water resources. Based on the Feasibility Study published in 2024, Koné ranks as one of the highest quality gold projects in Africa with a long 16-year mine life, low AISC of $998 /oz over its life of mine, and sizeable annual production of +300 Koz of gold over the first eight years. Over the course of 2024, the Montage management team will be leveraging their extensive track record in developing projects in Africa to progress Koné towards a construction launch, with a goal of unlocking significant value for all its stakeholders.
Attributable Gold Mineral Reserves and Mineral Resources – Koné Project
Category | Tonnage Mt | Grade Au g/t | Contained Au Moz | ||
Probable | 26.7 | 0.72 | 0.62 | ||
Indicated | 3.5 | 0.40 | 0.05 | ||
Inferred | 1.4 | 0.50 | 0.02 |
Notes on Mineral Reserves & Mineral Resources: | ||
1. | All Mineral Reserves and Mineral Resources have been estimated in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards for Mineral Resources and Mineral Reserves and National Instrument 43-101 – Standards for Disclosure for Mineral Projects ("NI 43-101"). | |
2. | Mineral Reserves and Mineral Resources are reported above in millions of metric tonnes ("Mt"), grams per metric tonne ("g/t") and millions of ounces ("Moz"). | |
3. | Qualified persons ("QPs"), as defined by the NI 43-101, for the technical information contained in this document (including the Mineral Reserve and Mineral Resource estimates) are: | |
a. | Neil Burns, M.Sc., P.Geo. (Vice President, Technical Services); and | |
b. | Ryan Ulansky, M.A.Sc., P.Eng. (Vice President, Engineering), both employees of the Company (the "Company's QPs"). | |
4. | The Mineral Resources reported in the above tables are exclusive of Mineral Reserves. | |
5. | Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. | |
6. | Koné Project Mineral Reserves are reported as of January 15, 2024 and Mineral Resources as of December 19, 2023. | |
7. | Koné Project Mineral Reserves are reported above gold grade cut-offs ranging from 0.19 to 0.49 grams per tonne assuming $1,550 per ounce gold. | |
8. | Koné Project Mineral Resources are reported above gold grade cut-offs of 0.2 grams per tonne for the Koné deposit and 0.5 grams per tonne for the Gbongogo deposit, both assuming a gold price of $1,800 per ounce. | |
9. | The Gold Stream provides that Montage will deliver gold equal to19.5% of the payable gold until a total of 400 Koz of gold has been delivered, subject to adjustment if there are delays in deliveries relative to an agreed schedule, then 10.8% of the payable gold until an additional 130 Koz of gold has been delivered, then 5.4% of payable gold for the life of the mine. | |
Neil Burns , P.Geo., Vice President, Technical Services for Wheaton Precious Metals and Ryan Ulansky , P.Eng., Vice President, Engineering, are a "qualified person" as such term is defined under National Instrument 43-101, and have reviewed and approved the technical information disclosed in this news release (specifically Mr. Burns has reviewed mineral resource estimates and Mr. Ulansky has reviewed the mineral reserve estimates).
Conference Call
A conference call will be held on October 24, 2024 , starting at 10:30am Eastern Time to discuss these transactions. A presentation on the transaction will be available on the Company's website shortly before the conference call. To participate in the live call, please use one of the following methods:
RapidConnect URL: Click here
Live webcast: Click here
Dial toll free: 1-888-510-2154 or 1-437-900-0527
Conference Call ID: 82162
This conference call will be recorded and available until October 31, 2024 at 11:59 pm ET . The webcast will be available for one year. You can listen to an archive of the call by one of the following methods:
Dial toll free from Canada or the US: 1-888-660-6345
Dial from outside Canada or the US: 1-289-819-1450
Pass code: 82162 #
Archived webcast: Click here
Fenix Project Update
On October 21, 2024 , Rio2 Limited ("Rio2") announced an expanded relationship with Wheaton whereby WPMI now will provide a full financing package for the construction, development, operation, commissioning and ramp-up of the Fenix Gold Project (the "Fenix Project"). WPMI will pay Rio2 additional upfront cash consideration of $100 million (over and above the remaining $25 million payable under the existing stream with Rio2), in exchange for which Rio2 will deliver 95,000 ounces of gold from the Fenix Project (subject to adjustment if there are delays in deliveries relative to an agreed schedule). In addition, the Company has also agreed to adjust the production payment for all gold ounces delivered to 20% of the spot gold price. Rio2 has a one-time option to terminate the requirement to deliver the additional gold production from the end of 2027 until the end of 2029 by delivering 95,000oz less any of the previously delivered gold ounces.
Wheaton will also provide a US$20 million contingent cost overrun facility in the form of a standby loan facility. Lastly, Wheaton has committed to participate in a private placement of Rio2 common shares for C$5 million at a price per share equal to, and concurrent with, a public offering by Rio2.
About Wheaton Precious Metals
Wheaton is the world's premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate. Wheaton creates sustainable value through streaming for all of its stakeholders.
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1) Please refer to the Attributable Mineral Reserves & Mineral Resources table in this news release for full disclosure of reserves and resources associated with the Koné Project including accompanying footnotes. |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation concerning the business, operations and financial performance of Wheaton and, in some instances, the business, mining operations and performance of Wheaton's Precious Metals Purchase Agreement ("PMPA") counterparties. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements with respect to:
Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", "potential", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wheaton to be materially different from those expressed or implied by such forward-looking statements, including but not limited to:
Forward-looking statements are based on assumptions management currently believes to be reasonable, including (without limitation):
There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Wheaton. Readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. The forward-looking statements included herein are for the purpose of providing readers with information to assist them in understanding Wheaton's expected financial and operational performance and may not be appropriate for other purposes. Any forward-looking statement speaks only as of the date on which it is made, reflects Wheaton's management's current beliefs based on current information and will not be updated except in accordance with applicable securities laws. Although Wheaton has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward‑looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended.
Cautionary Language Regarding Reserves And Resources
For further information on Mineral Reserves and Mineral Resources and on Wheaton more generally, readers should refer to Wheaton's Annual Information Form for the year ended December 31, 2023 , which was filed on March 28, 2024 and other continuous disclosure documents filed by Wheaton since January 1, 2024 , available on SEDAR at www.sedar.com . Wheaton's Mineral Reserves and Mineral Resources are subject to the qualifications and notes set forth therein. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. Numbers have been rounded as required by reporting guidelines and may result in apparent summation differences.
Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources: The information contained herein has been prepared in accordance with the requirements of the securities laws in effect in Canada , which differ from the requirements of United States securities laws. The Company reports information regarding mineral properties, mineralization and estimates of mineral reserves and mineral resources in accordance with Canadian reporting requirements which are governed by, and utilize definitions required by, Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the "CIM Standards"). These definitions differ from the definitions adopted by the United States Securities and Exchange Commission ("SEC") under the United States Securities Act of 1933, as amended (the "Securities Act") which are applicable to U.S. companies. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted by the SEC. Information contained herein that describes Wheaton's mineral deposits may not be comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. United States investors are urged to consider closely the disclosure in Wheaton's Form 40-F, a copy of which may be obtained from Wheaton or from https://www.sec.gov/edgar.shtml .
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Key Points
Remorse Project
High-Grade Iron
Although assays are only available for one hole to date, the intersection of high-grade magnetite iron is an exciting development in the prospectivity of the Remorse target. Although extensive iron-rich stratigraphy was noted in all work to date, due to the surface expression, it was viewed through the geological lens of a gangue mineral associated with base metal deposit styles such as VMS. However, drilling into the fresh rock below weathered, cherty, haematite-goethite-magnetite outcrops has shown consistent medium-grained, massive, high-grade, magnetite-rich mineralisation in the sub-surface.
Figure 01: Section through initial iron mineralisation WARDH160-162
Table 01: Remorse Fe Intercepts
Figure 02: Greater Remorse Geochemical Anomaly With Designed Drillholes
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This article includes content from Tempest Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
HIGHLIGHTS
CORPORATE
Figure 1: Aurum’s Boundiali Gold Project in Côte d’Ivoire.
Diamond drilling at Boundiali Gold Project
During the quarter, Aurum completed 75 diamond holes for a total of 19,914.84m on the Boundiali BD and BM tenements, with details summarised in the Table 1. Aurum is well on track to complete 45,000m diamond drilling at the Boundiali Gold Project for CY2024.
Table 1 Diamond holes drilled at BD and BM tenements during September 2024 quarter
During the reporting quarter, Aurum reported assay results from step-back drilling (14 holes for 4,485m) at BD Target 1 (ASX announcement 5 September 2024) with wide hits including:
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This article includes content from Aurum Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Key Highlights
Titan’s CEO Melanie Leighton commented:
“It’s exciting that our exploration efforts are being rewarded with high-grade gold results fromtrench in several of our newly identified exploration targets at the Dynasty Gold Project. This latest result of 5m @ 5.0 g/t Au returned from Tomahawk, along with the recent result of 3m @ 21.4 g/t Au at Iguana south has proven the fertility of Dynasty over a Skm x 2km area. We now know that the mineral system encompasses a much larger area than the current 3.1Moz gold & 22Moz silver Mineral Resource.
“The revelation of a much larger mineral system bodes extremely well for us, feeding into our Dynasty resource growth strategy. We are expediting the development of further trenches over priority target areas, with a view to test many of these exploration targets in the upcoming ~ 10,000m drilling campaign.
“We look forward to delivering a steady flow of trench results over new targets in the coming weeks, and more excitingly we also look forward to delivering results from resource and exploration drilling programs over the coming months, as we work towards a Dynasty resource update in mid-2025”
Figure 1. Dynasty Gold Project displaying Mineral Resources, soil geochemistry (arsenic), exploration and resource extensional targets, significant rock chips (Au), significant trench results (Au) and planned trenches over exploration targets.
Figure 2. Dynasty Gold Project displaying Mineral Resources, soil geochemistry (copper), copper targets, significant rock chips (Cu), significant trench results (Cu) and planned trenches over exploration targets.
Dynasty Activities Update
Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to provide an update on the Company’s 100% held Dynasty Gold Project (Dynasty) in southern Ecuador, where it has been conducting extensive exploration in underexplored areas outside the currently defined 3.1 Moz gold and 22 Moz silver Mineral Resource.
Reconnaissance exploration along the Dynasty epithermal system has successfully expanded the gold-silver mineralisation footprint along the entire 9-kilometre corridor, with the mineral system substantially expanded to an area of 9km by 2km, an area much larger than the Mineral Resource area which covers ~ 5.5km x 1km.
Along with the expanded mineralisation footprint, several new exploration and resource extensional gold and copper targets have been highlighted by recent work. Multiple new veins exhibiting high-grade gold have been confirmed from surface by mapping, rock chip sampling and most recently trenching. Importantly, the new veins are in areas never previously explored or drilled and are coincident with large-scale geochemical anomalies.
The Company has been undertaking trenching over new priority targets with the latest results returning significant intersections of high-grade gold-silver and base metals from surface at the new Tomahawk target.
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This article includes content from Titan Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.