The Conversation (0)
(TheNewswire)
 | |||||||||
 |  |  |  | ||||||
Blackstone Minerals Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Blackstone Minerals
Investor Insights
Rapidly emerging as Southeast Asia’s premier base and battery metals developer, Blackstone Minerals now holds two globally significant projects: the Ta Khoa nickel-cobalt project in Vietnam and the Mankayan copper-gold porphyry project in the Philippines. Both projects are critical to the company’s strategy to become a vertically integrated, low-cost, low-carbon producer of critical battery and base metals.
Overview
As the global economy accelerates toward net-zero emissions, the demand for critical minerals continues to rise, with nickel and copper positioned at the forefront of the energy transition. Historically used in stainless steel, nickel is now a core component in lithium-ion batteries; while copper, vital for electrification infrastructure, is similarly facing a looming supply crunch.
Blackstone Minerals (ASX:BSX,OTC:BLSTF,FRA:B9S) recognizes this strategic imperative and has positioned itself as a diversified, vertically integrated producer of low-cost, low-carbon battery and base metals.
Following its transformational merger with IDM International, Blackstone now controls two globally significant assets: the Ta Khoa nickel project in Vietnam and the Mankayan copper-gold project in the Philippines. Together, they represent a rare combination of scale, grade and strategic location in Southeast Asia, an increasingly vital region in the global clean energy supply chain.
The Mankayan copper-gold project is located in Northern Luzon, Philippines
The recently acquired Mankayan project adds substantial scale and diversification to Blackstone’s portfolio. One of the largest undeveloped copper-gold porphyry systems in Asia, Mankayan features over 56,000 meters of historical drilling and a resource of 793 million tonnes (Mt) at 0.756 percent copper equivalent (CuEq), including a high-grade core of 170 Mt at 1.049 percent CuEq. The project benefits from proximity to existing infrastructure and its location just 2.5 km from the operating Lepanto gold mine, owned and operated by Lepanto Consolidated Mining Company, and Far Southeast Gold Resources’ Far Southeast project.
The Ta Khoa project, meanwhile, includes both a past-producing underground nickel sulphide mine (Ban Phuc) and an advanced-stage refinery designed to produce battery-grade precursor cathode active material (pCAM). Vietnam’s low labor and energy costs, coupled with regulated power pricing and surging foreign direct investment, make it an ideal base for Blackstone’s vertically integrated strategy.
Blackstone is uniquely positioned to benefit from geopolitical tailwinds. Vietnam’s Free Trade Agreement with the European Union and the US Inflation Reduction Act are drawing significant interest from global partners and battery manufacturers. Meanwhile, the Philippines is undergoing a mining renaissance, with the government promoting foreign investment in responsible resource development. Mankayan has already been identified as a priority project by the Philippines’ Mines and Geosciences Bureau.
The company’s development strategy is underpinned by a commitment to ESG leadership. Blackstone is advancing renewable energy solutions for Ta Khoa via a direct power purchase agreement with Limes Renewables and is collaborating with Arca Climate Technologies to explore carbon capture through mineralization. At Mankayan, the company is focused on sustainable development in partnership with local communities.
Financially, Blackstone is well-capitalized to deliver on its dual-track growth plan. Following the merger with IDM, the company raised AU$22.6 million and holds AU$24.36 million in cash as of June 2025. The company’s experienced leadership team and strong partnerships provide a clear path to near-term value creation, as both projects progress toward definitive feasibility studies and long-term production.
Blackstone Minerals is now one of Southeast Asia’s leading battery and base metals developers, with a clear vision to supply responsibly sourced nickel and copper for the global energy transition.
Company Highlights
- Nickel Supply Deficit: The global nickel market is projected to enter a structural deficit with battery-grade nickel demand expected to grow 950 percent by 2040.
- Diversified Portfolio: With Ta Khoa in Vietnam and Mankayan in the Philippines, Blackstone offers exposure to two critical and high-demand metal classes: nickel and copper-gold.
- Strategic Southeast Asia Presence: Vietnam and the Philippines are emerging hubs for EV and mineral resource development, with robust government support and increasing foreign direct investment.
- Infrastructure Advantage: Both projects benefit from existing infrastructure, including hydroelectric power, trained workforces, and government collaboration.
- Sustainability Leadership: Blackstone is pursuing low-emission mining solutions through partnerships in renewable energy and carbon capture technologies.
- Financially Strong: Blackstone raised AU$22.6 million post-merger, supporting an aggressive exploration and development strategy across both assets.
Key Project
Mankayan Copper-Gold Project – Philippines
Following its merger with IDM International, Blackstone now owns a 64 percent effective interest in the world-class Mankayan copper-gold project through Crescent Mining Development. Located in the prolific mineral belt of Northern Luzon, Philippines, Mankayan is one of Asia’s largest undeveloped copper-gold porphyry systems. It lies approximately 340 km from Manila by road, and just 2.5 kilometers from the operating Lepanto gold mine, which includes a 900 ktpa underutilized milling facility.
The Mankayan deposit spans roughly 1,100 meters of strike and 600 meters in width, with mineralization open to the north, south and at depth. Over 56,000 meters of diamond drilling has been completed to date, and the deposit hosts a JORC 2012-compliant mineral resource estimate of 793 Mt at 0.37 percent copper and 0.40 grams per ton (g/t) gold, equating to 0.756 percent CuEq. This includes a high-grade core of 170 Mt at 0.48 percent copper and 0.59 g/t gold (1.049 percent CuEq), offering valuable optionality.
Drilling results support Mankayan’s classification as a globally significant resource. Notable historic intercepts include:
- 911 meters at 1 percent CuEq, including 253 meters at 1.43 percent CuEq
- 543 meters at 1.08 percent CuEq, including 277 meters at 1.43 percent CuEq
- 1,119 meters at 0.86 percent CuEq, including 352 meters at 1.15 percent CuEq
- 754 meters at 1.03 percent CuEq, including 430 meters at 1.21 percent CuEq
In July 2025, Blackstone confirmed significant new surface mineralization through historical rock chip samples returning grades up to 6 g/t gold and 1.9 percent copper, and a standout recent drill hole – 432 meters at 1.25 percent CuEq (including 210 meters at 1.60 percent) – further underscoring the project's scale and growth potential.
A key strategic advantage of Mankayan is its dual development pathway. The high-grade core supports a low-capex startup via selective mining methods, while the bulk of the deposit can be exploited through larger-scale mining scenarios that benefit from lower operating costs and economies of scale. This tiered approach allows Blackstone to balance capital efficiency with long-term growth.
Regulatory and community engagement milestones have also been achieved. The project’s 25-year mineral production sharing agreement was renewed in 2022, and a memorandum of agreement with local Indigenous Peoples was signed in 2024, making Blackstone the first mining company to obtain IP consent in the area. The Mines and Geosciences Bureau of the Philippines has since designated Mankayan as a priority development project.
Mankayan stands out globally when benchmarked against peer porphyry systems. A comparative analysis of undeveloped copper-gold projects ranks it near the top in terms of grade and copper equivalent tonnage, reaffirming its strategic and economic potential on the world stage.
In 2025 and beyond, Blackstone will continue metallurgical testwork, geophysics (including magnetics, IP and electromagnetics), environmental baseline studies, and further drilling to refine and expand the resource. These efforts will support upcoming mining studies and a targeted prefeasibility study.
Ta Khoa
Ta Khoa nickel project in Vietnam
Blackstone Minerals holds a 90 percent interest in the Ta Khoa nickel project, located in the Son La Province of northern Vietnam, about 160 km west of Hanoi. The project comprises the Ban Phuc underground nickel sulphide mine – a modern operation built to Australian standards that operated between 2013 and 2016 – and the adjacent Ta Khoa refinery, currently being developed to produce battery-grade precursor cathode active material (pCAM).
The Ban Phuc mine is currently under care and maintenance but is poised for recommissioning alongside the construction of a concentrator and refinery. The broader Ta Khoa asset base contains probable reserves of 48.7 million tonnes (Mt) at 0.43 percent nickel, equivalent to 210 kilotonnes (kt) of contained nickel. The mining inventory totals 64.5 Mt at 0.41 percent nickel, containing 265 kt of nickel. This figure excludes additional developing prospects such as Ban Khoa.
Over the planned 10-year mine life, Ta Khoa is expected to produce an average of 18 kt of nickel concentrate annually, with the potential to extend well beyond this horizon through integrated refining. The existing infrastructure onsite, including a 450 ktpa mill and a mining camp, provides significant capital efficiency and accelerates time to production.
A recent 12-month pilot program, conducted in partnership with ALS and Wood, successfully demonstrated that Ta Khoa’s hydrometallurgical flowsheet can convert concentrate into nickel sulphate at 99.95 percent purity and 97 percent recovery. This success positions the refinery as a credible supplier to the Asia-Pacific battery supply chain.
The project is further distinguished by its low emissions profile. Independent assessments by Digbee, Minviro, Circulor and an audit by the Nickel Institute have confirmed Ta Khoa as the lowest-emitting pCAM flowsheet in the industry, with carbon intensity of just 9.8 kg CO₂ per kg of pCAM, with opportunities for further reduction.
Blackstone’s development strategy includes flexible feedstock acceptance – from nickel concentrate to black mass – and is strengthened by partnerships with Cavico Laos for third-party supply, Arca Climate Technologies for carbon capture via mineralization, and Limes Renewables to supply clean wind energy. Additionally, the company has secured byproduct offtake arrangements for manganese sulphate and sodium sulphate with VinaChem, PVChem and Nam Phong Green, reinforcing its commitment to full-cycle resource utilization and ESG leadership.
Management Team
Hamish Halliday - Non-executive Chairman
Hamish Halliday is a geologist with over 20 years of corporate and technical experience. He is also the founder of Adamus Resources Limited, an AU$3 million float that became a multimillion-ounce emerging gold producer.
Scott Williamson - Managing Director
Scott Williamson is a mining engineer with a commerce degree from the West Australian School of Mines and Curtin University. He has over 10 years of experience in technical and corporate roles in the mining and finance sectors.
Geoff Gilmour – Non-executive Director
Appointed following Blackstone’s merger with IDM, Geoff Gilmour brings deep experience in Southeast Asian mining ventures. He has held senior roles in exploration and development across copper and gold projects in the Philippines and broader Asia-Pacific.
Tessa Kutscher - Executive
Tessa Kutscher is an executive with more than 20 years of experience in working with C-Level executive teams in the fields of business strategy, business planning/optimisation and change management. After starting her career in Germany, she has worked internationally across different industries, such as mining, finance, tourism and tertiary education.
Lon Taranaki - Executive
Lon Taranaki is an international mining professional with over 25 years of extensive experience in all aspects of resources and mining, feasibility, development and operations. Taranaki is a qualified process engineer from the University of Queensland Australia. He holds a Master of Business Administration, and is a fellow of the Australian Institute of Company Directors. Taranaki has established his career in Asia where he has successfully worked (and lived) across multiple jurisdictions and commodities ranging from technical, mine management and executive management roles.
A diversified developer of battery-grade nickel and copper-gold assets in Southeast Asia
Heritage Mining Announces Closing of LIFE Offering
VANCOUVER, BC TheNewswire - August 15, 2025 Heritage Mining Ltd. (CSE: HML) (" Heritage " or the " Company ") is pleased to announce that, further to its news release dated July 22, 2025 and August 5, 2025, it has closed the final tranche of the non-brokered listed issuer financing exemption (" LIFE ") private placement of 500,000 units, of the max offering, 18,187,725 units (" Units ") at a price of $0.035 per Unit for gross proceeds of ~C$17,500, of the max offering, C$636,570 (the " Offering ").
A non-brokered "best-efforts basis" LIFE financing of up to 18,187,725 units (the " LIFE Offering ") for gross proceeds of up to $635,570 for units of the Company (each, a " Unit ") at a price of $0.035 per Unit, with each Unit being comprised of one (1) common share of the Company (each a " Common Share ") and one (1) common share purchase warrant (a " Warrant ") granting the holder the right to purchase one (1) additional Common Share of the Company (a " Warrant Share ") at a price of $0.05 at any time on or before 36 months from the Closing Date (as defined herein), which securities shall be offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 ").
The Company paid an aggregate ~C$$44,560 in cash commissions and issued an aggregate 1,273,140 compensation options (the " Compensation Options ") in connection with the Offering. Each Compensation Option entitles the holder to acquire one additional Unit at a price of $0.035 for a period of 36 months following the date of issuance.
Proceeds of the Offering will be used to fund the Company's previously announced exploration and drilling program on its flagship Drayton-Black Lake Project and Contact Bay, in addition to general working capital .
"We are very pleased to have closed the final tranche of the LIFE Offering successfully and appreciate the continued support from both new and existing shareholders who share our long-term vision.
With the majority of our results from our 2025 exploration program still outstanding, we look forward to communicating results as they are received." Commented Peter Schloo, President, CEO, and Director of Heritage Mining Ltd.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Peter Schloo, CPA, CA, CFA President, CEO and Director Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents,
risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Angkor Resources Advances Seismic Program With Enercam's Oil & Gas Block VIII, Cambodia
(TheNewswire)
 | |||||||||
 |  |  |  | ||||||
GRANDE PRAIRIE, ALBERTA - August 14, 2025 TheNewswire - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") announces its subsidiary, EnerCam Resources Co. Ltd. (Cambodia) ("EnerCam") is well underway to complete Cambodia's onshore EnviroVibe oil and gas 2-D seismic for Block VIII ("Project").
Mike Weeks, President of EnerCam, comments on the seismic, "We are very pleased to be doing seismic on Block VIII. This technical work leads to defining drill targets, all of which is part of the requirements to prove commercial oil and gas for Cambodia. "
Weeks, having worked in the industry for decades around the globe, adds, "Discovering oil and gas changes a nation because it gives a country independence, recurring revenue, and its own source of national energy. The entire economic activity receives a boost not just from the discovery, but from all the additional service businesses that develop as part of the industry sector."
The quest for EnerCam is to discover Cambodia's first onshore oil and gas, as currently the country imports all of its hydrocarbon-based energy products, spending several billion dollars per year.
EnerCam strives to be drilling the first wells following appropriate interpretation and target definition from the seismic program.
The technical teams continue with additional research in the area concurrently with the seismic. Approached by local residents and business owners as they move from line to line across the targeted seismic area, the geoscience team is witnessing several abandoned water wells where oil has seeped into the well, making the water unusable for domestic use. As well, the team has sourced multiple additional surface oil seeps, adding to the inventory of documented locations of surface oil showings.
The seismic program employs 53 people to execute daily tasks to lay out geophones every four metres across upcoming seismic lines, then add data recorders every 25 metres that connect to the geophones. The pair of EnviroVibe units then pass the prepared line to be shot and sweeps the ground every 50 meters along the line to create ground vibration, and the results of the sound waves are transmitted and recorded. Then all the geophones and data recorders are collected and rotated back into the next cycle for the upcoming lines. Geophones and recorders generally try to stay 24 hours ahead of the Envirovibe units, so the process is efficient and advances in a timely manner.
Keith Edwards, Technical Manager for EnerCam describes the program and the results to date, "We are looking to average about nine kilometers per day, with some short lines taking longer. The initial data looks promising and the methodology and the technology are such that despite the rain, we can sweep an area and receive good quality data."
Interpretation of the data will take place upon completion of the Project, which is estimated to be between mid and the end of September. Between five and six weeks are budgeted as a timeline for interpretation.
Seismic teams are executing 350-line kilometers of two dimensional seismic over four identified sub basins on the west side of the license area and then will move to the newly described ‘mussel basin' on the northeast side of the license.
Click Image To View Full Size
Figure 1 Geophone deployment teams walk the distances where no vehicle access is immediate. Teams use GPS to accurately cover terrain daily to lay out geophones ahead of data recorders and EnviroVibe equipment. Geophones are inserted into the ground every four meters. All landowners grant full permission before any entry is allowed.
Click Image To View Full Size Figure 2 EnviroVibe machines moving down seismic line through privately-owned palm plantation, full access and permission from owner granted in advance.
Click Image To View Full Size
Figure 3 Geophone deployment team travels by boat to access the next line area. Vibration units will travel by land, using bridges and roads to position equipment in the sweep zones.
Click Image To View Full Size
Click Image To View Full Size
Figures 4 and 4a: Local security are hired to monitor the lines of geophones and data recorders before they are picked up and moved to the next location. Lines are monitored night and day, rain or shine.
ABOUT Angkor Resources CORPORATION:
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR's carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions. The company's mineral subsidiary, Angkor Gold Corp. in Cambodia holds three mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII. The company then removed all parks and protected areas to reduce the size to just over 3700 square kilometers. Since 2022, Angkor's Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Saskatchewan, Canada.
CONTACT: Delayne Weeks - CEO
Email: info@angkorresources.com Website: angkor resources.com Telephone: +1 (780) 831-8722
Please follow @AngkorResources on , , , Instagram and .
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.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results o f future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Silver47 Unveils Multiple Premier Exploration Targets with Strong Discovery Potential Across the Red Mountain Project, Alaska
Undrilled silver-rich and polymetallic occurrences are dispersed across a 55 km highly prospective east-west corridor
Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to provide a review of drill targeting across the highly-prospective Bonnifield District at the Red Mountain project near Fairbanks, Alaska (the "Red Mountain Project").
Highlights:
- Strong Alaskan High-Grade Resource Base: The Red Mountain Project already hosts an inferred mineral resource estimate of 15.6Mt at 336 g/t AgEq* totaling 168.6 million silver equivalent ounces comprised of two resource zones, Dry Creek and West Tundra Flats.
- Leveraging Past Work: A database of historic geochemical and geophysical data, including 2,543 rock samples, 7,948 soil samples and 15,862 XRF soil samples has revealed a series of new targets outside the current resource zones that the Company is developing for drilling in 2026.
- High Prospectivity and Unique Discovery Potential: Ongoing compilation highlights at least 35 mineralized prospects across the Red Mountain Project covering a 55 km trend many of which are undrilled or represent preliminary drilled discoveries open to expansion.
- U.S. Silver and Critical Metal Focus: Multiple zones of high-grade surface mineralization marked by samples collected by a previous operator representing significant polymetallic upside are highlighted by grades of:
- 1,295 g/t silver at the Galleon target
- 3.8 g/t gold at the Horseshoe target
- 16.2% copper at the Kiwi target
- 32% zinc at the Anderson Mountain target
- 20% lead at the Jack Frost target
- 4,850 g/t antimony at the Bib target
- 149 g/t gallium northeast of the West Tundra Flats Deposit
- 98 g/t indium at the Jack Frost target
- 0.13% tin at the Sheep Creek target
- Drilling On-Going with Assays Pending: Nine 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.
Galen McNamara, CEO, stated: "Our Red Mountain Project in Alaska is emerging as a premier silver and critical metals asset in the U.S. By leveraging extensive historic data, we've identified dozens of high-potential targets along broadly mineralized trends. The prospectivity of these targets was first identified by past operators, and I agree; the data suggest the likely presence of additional undiscovered and potentially giant VMS deposits on the project. I am unaware of any other domestic mineral projects with similar polymetallic discovery potential. In addition, ongoing drilling at Dry Creek and West Tundra Flats continues to intersect promising sulfide zones, with assays pending, positioning Red Mountain to deliver significant value and strengthen domestic critical mineral supply chains in the future."
*Table 1: Combined Open Pit and Underground Inferred Mineral Resource Estimate for the Red Mountain Project, Alaska
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/262306_8647920a74a5686f_002full.jpg
- The 2024 Red Mountain MRE was estimated and classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") "Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines" dated November 29, 2019, and the CIM "Definition Standards for Mineral Resources and Mineral Reserves" dated May 10, 2014.
- Mr. Warren Black, M.Sc., P.Geo. of APEX Geoscience Ltd., a QP as defined by NI 43-101, is responsible for completing the 2024 Mineral Resource Estimate, effective January 12, 2024.
- Mineral resources that are not mineral reserves have not demonstrated economic viability. No mineral reserves have been calculated for Red Mountain. There is no guarantee that any part of the mineral resources discussed herein will be converted to a mineral reserve in the future.
- The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market, or other relevant factors.
- The quantity and grade of reported Inferred Resources is uncertain, and there has not been sufficient work to define the Inferred Mineral Resource as an Indicated or Measured Mineral Resource. It is reasonably expected that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
- All figures are rounded to reflect the relative accuracy of the estimates. Totals may not sum due to rounding. Reported grades are undiluted.
- A standard density of 2.94 g/cm³ is assumed for mineralized material and waste rock. Overburden density is set at 1.8 g/cm³. For mineralized material blocks with iron assays close enough to estimate an iron value for the block, density is calculated using the formula: density (g/cm³) = 0.0553 * Fe (%) + 2.5426.
- Metal prices are US$2,750/tonne Zn, US$2,100/tonne Pb, US$8,880/tonne Cu, US$1,850/oz Au, and US$23/oz Ag.
Figure 1. Plan Map of Red Mountain Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/262306_8647920a74a5686f_003full.jpg
Figure 2. Mineralized core from WT25-38 at the West Tundra Flat Deposit showing disseminated, semi-massive and massive sulfides consisting of pyrite, pyrrhotite, sphalerite, galena and chalcopyrite (172.65 to 180.5m downhole).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/262306_8647920a74a5686f_004full.jpg
The Targets
Priority volcanogenic massive sulfide (VMS) exploration targets at the Red Mountain Project are dispersed across the highly prospective Bonnifield mining district. The targets vary from zinc-rich to copper-rich and many have associated high-grade silver and local gold mineralization.
Four main target trends are defined and include: Dry Creek Syncline, Keevy Trend, Last Chance Corridor and Wood River trend (Figure 1). Many of the targets across the Dry Creek Syncline area (Figure 1) were known historically, however, numerous high-priority targets across the Keevy and Last Chance areas were more recently identified through regional stream sediment, ridge-spur soil and rock geochemical surveys and project-wide EM geophysical surveys completed by a past project operator. Of the 30 known targets as well as other un-explored EM targets, only eleven targets have been drill tested, five of those with less than three holes each.
The Dry Creek Syncline: The best known targets associated with the Dry Creek Syncline are the Dry Creek and WTF deposits (combined inferred mineral resource of 15.6 million tonnes at 7% ZnEq or 335.7 g/t AgEq, totaling 168.6 million silver equivalent ounces*). Previous drilling at Dry Creek have returned high-grade intercepts, such as 22.3 m at 601 g/t AgEq (150.6 g/t Ag, 0.82 g/t Au, 5.86% Zn, 2.60% Pb, 0.13% Cu, DC24-105) from 18.9 m down hole.
VMS targets are located along both limbs of the project-scale, east-west trending Dry Creek syncline where approximately 40 km of prospective VMS stratigraphy (Mystic and Sheep Creek members of the Totatlanika schist) is well exposed (Figure 1). Many targets along the syncline are associated with pronounced EM anomalies and have been mostly defined by stream, soil and rock-chip geochemistry and limited ground geophysical surveys (magnetics and CSAMT). High priority targets across the Dry Creek Syncline area include:
Hunter Target: Massive sulfide mineralization at the Hunter target, 5.8 km west of Dry Creek, has been traced for over 500 m within a carbonaceous phyllite that is traced for over 1 km. Rock chip sampling of the discovery Hunter outcrop returned assays up to 616 g/t Ag, 18.6% Zn, 5.4% Pb, 2.5% Cu, and 0.33 g/t Au. Six drill holes in 2018, 2019 and 2021 successfully tested the dip-extent of the massive sulfide lens highlighted by 1.4m of 17.4% Zn, 3.9% Pb, 1.6% Cu, 90 g/t Ag and 0.23 g/t Au (HR18-01)2 and 1.8m of 13.8% Zn, 3.1% Pb, 56 g/t Ag, 0.2 g/t Au and 0.9% Cu (HR18-02)2. VMS-related mineralization at Hunter is therefore open in all directions and further drilling testing of the strike- and dip-extent is warranted.
Glacier Creek: The Glacier Creek suite of targets are approximately 12.3 km northwest of Dry Creek. The ~6 km long target area is primarily underlain by the highly-prospective Totatlanika schists and is defined by numerous EM anomalies and broad km-scale colour anomalies and associated sericite alteration. Rock-chip sampling is sparce and soil-surveys have only been ridge-spur, however, numerous multi-element geochemical anomalies have been defined together with barium enrichment in many samples. Seven holes were drilled across two programs covering a 2 km trend in 1998 and 2019. Additional geological mapping, soil and rock geochemical surveys are clearly warranted to advance the known targets and to define drill targets.
Galleon Target: The Galleon target is approximately 9.0 km north of Dry Creek. Similar to Glacier Creek, the Galleon target is primarily underlain by the Totatlanika schist where numerous showings of VMS-style, high-Pb-Zn-Cu massive sulfide mineralization have been discovered. Importantly, numerous samples from Galleon returned elevated to high-grade Ag and Au mineralization. Rock samples with up to 1,265 g/t Ag, 2.18 g/t Au, 2.4% Zn, 1.656% Pb and 1.7% Cu have been reported. Additional geological mapping, soil and rock geochemical surveys are clearly warranted to advance the known targets, followed by drill testing.
The Keevy Trend: The Keevy VMS trend consists of numerous high-grade VMS targets dispersed along 25 km of favorable Keevy Peak Formation and Healy Schist stratigraphy south of the Dry Creek Syncline area (Figure 1). From east to west the targets comprise Lowrider, Easy Ivan, Jack Frost, Yogi, Kiwi, and Yeti with multiple unexplored EM targets west of Yeti (Figure 1). These targets have massive sulfide occurrences comprised of sphalerite, galena and chalcopyrite with other key VMS indicators such as chert, black barite and broad zones of sericite alteration and strongly anomalous base-metal soil anomalies. Highlights and key indicators of VMS potential from the Keevy VMS trend include:
Kiwi: up to 316 g/t Ag, 16.2% Cu, 10.3% Zn, 1.7% Pb, and 2.8 g/t Au in rock samples
Easy Ivan: up to 87.1 g/t Ag, 6.0% Zn, 12.3% Pb, and 0.45% Cu in rock samples
Jack Frost: up to 285 g/t Ag, 14.0% Zn, 20.0% Pb, and 1.1% Cu in rock samples
Yeti: black barite with elevated silver and strong base metal soil anomalism
Besides sparce ridge-spur and local grid soil surveys, prospecting and rock sampling many of the targets are under-explored and represent priority targets for follow-up. Geological mapping and infill soil geochemical surveys are planned to advance many of the targets along the highly prospective Keevy Trend.
Last Chance Corridor: The Last Chance area of prospective VMS targets is centered approximately 40 km west of the Dry Creek deposit (Figure 1). These targets may represent the western extent of the Keevy Trend. Seven targets have been defined covering a prospective corridor of 15 km primarily underlain by the Healy Schist and include from east to west; Copper Creek, Grapple, Bib West, Bullseye, Ringer, Sheep Creek and Horseshoe. The VMS lenses exposed in outcrop consist of pyrrhotite, pyrite and/or sphalerite, galena and chalcopyrite. Only the Sheep Creek target has been drill tested (1979 program by US Borax1) and all targets are primarily defined based on rock, soil and stream sediment anomalism and airborne and local ground-based geophysical methods. Highlights from previous rock-chip sampling include:
Horseshoe: up to 8.3% Zn, 4.6% Pb, 0.76% Cu, 44 g/t Ag and 3.8 g/t Au in rock samples
Bib: up to 7.3% Zn, 5.1% Pb, 0.3% Cu, 60 g/t Ag and 0.47 g/t Au in rock samples
Grapple: up to 5.1% Zn, 13.2% Pb, 0.79% Cu and 139 g/t Ag in rock samples
Ringer: up to 0.72% Cu, 27 g/t Ag and 1.0 g/t Au in rocks samples
Sheep Creek: up to 306 g/t Ag, 4.3% Zn, 3.98% Pb, and 0.18% Cu in rock samples and 24.5 m of 1.3% Zn,1.0% Pb and 0.127% Sn in historical drilling1
Follow-up geological mapping, infill soil geochemical surveys and additional higher-resolution magnetic surveys are planned to further advance many of the Last Chance targets.
Wood River Trend: Four high-grade VMS targets cover a 24 km trend on the southern limb of a district-scale anticlinal fold that runs parallel to the Dry Creek syncline (Figure 1). The targets are hosted in prospective Healy and Wood River Assemblage schists which host VMS-related mineralization elsewhere in the Bonnifield district. From east to west the targets include West Fork, Cirque, Virginia Creek and Anderson Mountain. Select historical rock-chip sampling and select drilling highlights include:
West Fork: up to 3.5% Zn, 2.5% Pb, 1.2% Cu and 73g/t Ag in rock samples
Cirque: up to 487 g/t Ag, 13.2% Zn, 3.8% Pb, 12.4% Cu and 3.7 g/t Au in rock samples
Virginia Creek: historical drilling, 14.8m at 3.3% Zn, 0.8% Pb, 78 g/t Ag, 0.2g/t Au and 0.5% Cu1 and rock samples up to 2.8% Zn, 0.65% Pb, 74.1 g/t Ag, 1.01 g/t Au and 1.3% Cu
Anderson Mountain: historical drilling, 161 g/t Ag, 0.6 m at 22% Zn, 4.8% Pb and 0.6% Cu1 and up to 151 g/t Ag, 32% Zn, 8.8% Pb and 3.8% Cu in rock samples. The prospective VMS horizon is mapped for over 240 m
Follow-up geological mapping, infill soil geochemical surveys and additional higher-resolution magnetic surveys are warranted to further advance many of the Wood River trend of VMS targets.
Exploration Update
Drilling is ongoing at the Red Mountain Project where nine holes have been completed. Two holes have been completed at Dry Creek and seven holes at WTF. Zones of massive, semi-massive and disseminated sulfide mineralization have been intersected in both infill and step-out holes.
Data Verification
Historical data referenced herein, including but not limited to assay results, drill intercepts, 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 due to the remote locations of the original samples or sites. As such, the Company cautions that this historical information may not conform to current NI 43-101 standards and should not be relied upon.
No new data verification procedures were undertaken specifically for this release beyond a review of available documentation. The Company plans to conduct future verification work, including drilling and sampling, to confirm and update these historical findings as part of ongoing exploration programs.
Qualified Person
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.
References
Raffle, K, Livingston, C., Proenza, Y. and Black, B., 2024, Technical Report on the Red Mountain VMS Property, Bonnifield Mining District, Alaska, USA, NI 43-101 Technical Report, effective date of January 12, 2024, 200 p, sedarplus.ca.
Data reported by White Rock Minerals, WRM ASX announcement August 20th, 2018.
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 combined 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."
Follow us on social media for the latest updates:
- X: @Silver47co
- LinkedIn: Silver47
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 release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "upon" "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to: the Company's exploration and development activities and plans. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the ability to close the Offering, including the time and sizing thereof, the insider participation in the Offering and receipt of required regulatory approvals; the use of proceeds not being as anticipated; the Company's ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and the additional risks identified in the Company's financial statements and the accompanying management's discussion and analysis and other public disclosures recently filed under its issuer profile on SEDAR+ and other reports and filings with the TSXV and applicable Canadian securities regulators. The forward-looking information are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws.
No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262306
News Provided by Newsfile via QuoteMedia
Blackstone Minerals Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects