Blue Lagoon Receives Final Mine Permits for its Dome Mountain Gold Project in British Columbia - Poised To Become BCs Next Gold Producer

Blue Lagoon Receives Final Mine Permits for its Dome Mountain Gold Project in British Columbia - Poised To Become BCs Next Gold Producer

(TheNewswire)

Blue Lagoon Resources Inc.

February 6, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has received its mining permit from the Ministry of Mining and Critical Minerals and its effluentdischarge permit from the Ministry of Environment and Parks for its 100% owned Dome Mountain Gold Project, an all-year road accessible project located a short 50-minute drive from Smithers, British Columbia, Canada. The achievement of this milestone truly marks a transformative moment for the Company as it transitions from an exploration-focused company to a near-term gold and silver producer.

"It is incredibly rare for a junior mining company to evolve from pure exploration into production, and today, we proudly stand on the brink of that transformation," said Rana Vig, President and CEO of Blue Lagoon Resources . "Securing the final mine permit is not just a milestone - it's a testament to the relentless dedication of our team, the strength of our partnerships, our extensive collaboration with Lake Babine Nation, and our unwavering commitment to responsible resource development in our beautiful Province. Blue Lagoon is now poised to become British Columbia's next gold producer, and this is just the beginning of an exciting new chapter for our Company and our shareholders," he added.

Blue Lagoon's chief geologist, Bill Cronk , said, "what makes this accomplishment even more remarkable is that we are delivering to our shareholders one of only a handful of mining permits granted in British Columbia over the last decade. This speaks to the exceptional quality of the high-grade Dome Mountain Gold Project, our commitment to meeting the highest environmental and regulatory standards, and the trust we've earned from both the provincial government and local communities. It's an extraordinary achievement that positions Blue Lagoon Resources for lasting growth in one of the world's most mining-friendly jurisdictions."

Key Highlights:

  • Final Mine Permits Secured: Authorizes full-scale underground mining operations at Dome Mountain, British Columbia. Initial production is limited to 55,000 tonnes per year with expected recovery of approximately 15,000 ounces Au per year.

  • Operational Readiness: The Company is preparing to initiate mining operations as early as July 2025.

    • Infrastructure, equipment, technical staff /consultants, mining contractor and operational plans being finalized and put in place.

  • Toll Milling Agreement: The Company holds an active toll-milling agreement with Nicola Mining and will ship its mined mineralized material to their milling facilities at Merritt, B.C. for processing.

  • Near-Term Production: The Company is now focused on finishing last preparatory activities and tasks related to the safe and secure opening of Dome Mountain, including the required installation of our planned water treatment facility at site, expected to be completed within three months.

Valuable Toll Milling Partnership

Pictures above show first truck load of Dome mineralized material arriving at Nicola Mining in

April 2021 that was sent by the Company to refine logistics and finalize optimal trucking routes.

" We are proud to support Blue Lagoon Resources as they transition into production at the Dome Mountain Gold Project," said Peter Espig, President of Nicola Mining Inc. "Our collaboration in 2021, which involved processing 5,000 tonnes of Dome Mountain material at our mill, provided both teams with invaluable operational insights. This hands-on experience helped optimize logistics, improve processing efficiency, and fine-tune key aspects of the milling process. We look forward to continuing our partnership as Blue Lagoon embarks on this exciting new chapter as British Columbia's next gold producer."

Nicola Mining's President, Peter Espig (left) with Blue Lagoon Resources President & CEO, Rana Vig,

standing at mill site next to Dome Mountain's high-grade mineralized material


Click Image To View Full Size

Blue Lagoon Resources President & CEO, Rana Vig, standing next to conveyer transporting

Dome Mountain mineralized material from Nicola's primary crusher to its secondary crusher during testing phase in 2021

As the Company transitions into production, its strategic focus will be on generating and investing cash from operations to self-fund further exploration across the expansive Dome Mountain property that has 15 known high grade gold veins with 90% of the nearly 21,000 hectare property yet to be explored (see the Company's news release dated May 4, 2020). This disciplined approach is designed to unlock the district-scale potential of the project while minimizing shareholder dilution. Additionally, the Company will allocate funds toward infill drilling the Boulder vein to expand the known resource, improve resource classification, and extend the mine's life, ensuring sustainable growth and long-term value creation for its shareholders.

Any production decision in advance of obtaining a feasibility study of mineral reserves demonstrating economic and technical viability of the project is associated with increased uncertainty and risk of failure.

Dome Mountain Gold Project

The Dome Mountain Project (Figure 1) covers an historical area of high-grade precious metal bearing veins centred on the past-producing Dome Mountain gold-silver mine which exploited the Boulder Main vein (1989-1992). The Project area is predominantly underlain by the Lower to Middle Jurassic Hazelton Group Island arc assemblage. The Boulder Main Vein, as well as its subsidiary veins (Figure 2), are characterized as steeply dipping, base metal rich, quartz carbonate veins embodied within an overall Alkali Gold System (mesothermal). The overall carbonate content can range as high as 30% and underlies the unit as a natural pH buffer and non-acid generating (NAG) system. Near term goals will include permitting the Argillite vein which will add additional high-grade value to the overall mine plan.


Click Image To View Full Size

Figure 1 : Location of key areas of the Dome Mountain property

Boulder Vein System Resource

To date the Company has drilled 94 drill holes (25,275 meters) into the Boulder Vein System since 2020, but historically almost 90,000 meters of drilling has been drilled on the Property since 1985. † The current resource estimate includes drilling from the 2020 and 2021 Phase 1 infill campaigns (Table 1) as well as historical drilling.


Click Image To View Full Size

Figure 2: Map showing various veins that comprise the Boulder Vein System.

Note that veins are not to scale and represent approximate surface expression of the vein traces.

Table 1: Summary of drilling by the Company on Boulder Vein System since 2020.

Year / Phase

No. Drill Holes

No. Meters

2020

26

3,786

2021 Phase 1

28

6,839

2021 Phase 2

1

509

2022 Phase 1

10

4,149

2022 Phase 2

19

7,083

2023 Phase 1

10

2,909

Through the initial programs of infill drilling the Company was able to increase the total gold ounces in the indicated category by 145%, or 102,582 ounces. In addition, 45,000 ounces of gold were moved into the measured category, which was a first for the project. The current mineral resource statement † (see News Release, February 3, 2022) discloses a mineral resource of:

Table 2: Mineral Resource Statement at 3.5 g/t cut-off, Dome Mountain Project, British Columbia, October 15, 2021 †

Class

Tonnes

Au (g/t)

Ag (g/t)

Au Oz

Ag Oz

Measured

136,000

10.32

57.31

45,000

250,000

Indicated

662,000

8.15

41.19

173,000

876,000

Inferred

85,000

6.02

26.13

16,000

71,000

(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

(2) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

(3) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

(4) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

† Arseneau, G. 2022. Mineral Resource Estimate for the Dome Mountain Gold Project, Smithers, British Columbia, Canada, prepared for Blue Lagoon Resources Inc. by Arseneau Consulting Services, effective date, October 15, 2021, NI 43-101 compliant technical report date January 31, 2022.

The two principal goals of the Company for the Boulder Vein System were:

  • to infill drill in the previously reported inferred resource in order to increase the defined resource into an indicated and/or measured category and;

  • to explore for more Boulder Style mineralization on strike and down dip from the resource and outline the potential for a Blue Sky 1M+ ounce resource there.

Both goals have been met.

Boulder Main Vein Size Potential

The Boulder Main Vein resource has a strike length of 530 meters and 200 meters down dip. Drilling to date has tested strike in both directions and down dip another 200 meters and has successfully shown the Boulder Vein mineralization continues for at least another 550 meters along strike (200+ meters west and 350+ meters east) and, 200+ meters down dip. Though sufficient infill drilling has not yet been completed to define a much larger resource, company geologists conclude that the drilling outlines potential for at least 1 million ounces gold and over 4 million ounces silver, given the consistency in gold and silver grades. In addition, deep holes at depth such as DM-22-273 showing increasing significance of copper mineralization (5.73 g/t Au, 80.9 g/t Ag and 1.21% Cu over 16.55 meters; including 5.65 meters returning 11.02 g/t Au, 115.8 g/t Ag and 2.31% Cu (see News Release dated January 16, 2023). Note that the potential resource range described above is conceptual in nature, there has been insufficient drilling to define such a conceptual range, and it is uncertain if further exploration will result in a resource within that range.  The conceptual range was determined based on a review of historical and company data described above.

The next phase(s) drilling will focus on expanding the known mineralization further along strike and at depth as well as infill drilling to add ounces to the growing resource. The identification of zones of wide, well-mineralized veins in all directions indicates the ability to continue to grow the resource quickly (Figure 3, yellow). Successful on-strike and down-dip drilling in the next phase(s) would indicate the potential to add further Au ounces resulting in a total potential deposit resource of greater than 1M+ ounces Au. Infill drilling would commence and be financed by funds generated from production of the Boulder Vein.

With systematic drilling the Company targets to show that the Boulder Main Vein resources can be successfully improved to a world class gold resource (Figure 3).


Click Image To View Full Size

Figure 3: Long section showing Current Boulder Main Vein resource in Black, dashed line shows extent of Boulder Vein Mineralization identified by recent drilling. Yellow bands are 100 meters step outs for further drilling targeting expanded Boulder Vein mineralization along strike and at depth. White circles are targeted pierce points. Figure also shows the existing resource with locations of both portals and already mined out portions.

Blue Lagoon looks forward to a new era for the overall development of the Dome Mountain Gold Project, the challenges ahead, but most importantly the Company remains committed to the responsible development of Dome Mountain in harmony with the Province, community and First Nations interests.

The scientific and technical disclosure in this news release was approved by Ted VanderWart, P.Geo , a Qualified Person as defined in NI 43-101 and a consultant to the Company.

For further information, please contact:

Rana Vig

President and Chief Executive Officer

Telephone:  604-218-4766

Email: rana@ranavig.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "targets", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "mine", "production" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, delays in mine development activities, future cash flow expectations and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions.  Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management, contractors and consultants on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's, contractor's and consultants' beliefs, estimates or opinions, or other factors, should change.

Copyright (c) 2025 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

BLLG:CC
Blue Lagoon Resources

Blue Lagoon Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Blue Lagoon Resources (CSE:BLLG)

Blue Lagoon Resources

Keep reading...Show less

Summer 2025 production ready gold producer in British Columbia with significant exploration upside

Blue Lagoon Closes Final Tranche Of Financing - Fully Funded To Commence Production

Blue Lagoon Closes Final Tranche Of Financing - Fully Funded To Commence Production

(TheNewswire)

Blue Lagoon Resources Inc.

April 29, 2025 TheNewswire Vancouver, British Columbia Blue Lagoon Resources Inc. (the " Company ") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has completed the final tranche of its previously announced private placement financing (see news releases dated February 24 and March 31, 2025) by issuing 8,900,000 units ("Units") at a price of $0.25 per Unit for gross proceeds of $2,225,000 (the "Offering"). This brings the total proceeds raised across four tranches to $4,871,750.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Blue Lagoon Announces Final Tranche Of Private Placement

Blue Lagoon Announces Final Tranche Of Private Placement

(TheNewswire)

Blue Lagoon Resources Inc.

April 16, 2025 Vancouver, British Columbia TheNewswire - Blue Lagoon Resources Inc. (the " Company ") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it will be completing a final tranche of its previously announced private placement financing (see news releases Feb 24 and March 31) by issuing up to 7,200,000 units (" Units ") at a price of $0.25 per Unit for gross proceeds of up to $ 1,800,000 (the " Offering "). The Offering is in addition to the $2,646,750 raised across three previous tranches for a total of $4,446,750 to be raised by the Company.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Blue Lagoon Continues to Strengthen Treasury to Fund Final Preparations of Mine Site and Initial Working Capital to Fund Commencement of Production

Blue Lagoon Continues to Strengthen Treasury to Fund Final Preparations of Mine Site and Initial Working Capital to Fund Commencement of Production

(TheNewswire)

Blue Lagoon Resources Inc.

March 31, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has closed a third tranche of its previously announced non-brokered private placement (the "Offering"), bringing the total funds raised across the three tranches to $2,646,750 .

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Blue Lagoon Resources Strengthens Mining Committee

Blue Lagoon Resources Strengthens Mining Committee

(TheNewswire)

Blue Lagoon Resources Inc.

March 24, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce the addition of Peter Bojtos, P.Eng to its recently formed Mining Committee that is tasked with successfully guiding the Company's transition from an exploration-focused company to a near-term gold and silver producer at its 100%-owned Dome Mountain Gold Project in British Columbia.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Blue Lagoon Completes Second Tranche of Private Placement - Crescat Capital, Phoenix Gold Fund and Nicola Mining Increase Their Positions.

Blue Lagoon Completes Second Tranche of Private Placement - Crescat Capital, Phoenix Gold Fund and Nicola Mining Increase Their Positions.

(TheNewswire)

Blue Lagoon Resources Inc.

March 17, 2025 Vancouver, British Columbia TheNewswire - Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has closed a second tranche of its previously announced non-brokered private placement (the "Offering"), bringing the total funds raised across both tranches to $1,297,500 .

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
US flag, Capitol building and gold bars.

Editor's Picks: Gold Pulls Back, Experts Not Worried; Eyes on Fed Next Week

Gold trended down this week, dropping to just over US$3,200 per ounce on the first day of May.

While the yellow metal remains historically high after a strong run this year, its price has pulled back from last week's record-setting level of US$3,500, causing concern for some market participants.

However, many experts agree that this week's retreat isn't a reason to worry.

Keep reading...Show less
John Rubino, gold and silver bars.

John Rubino: Gold on "Epic Run" as Chaos Unfolds, What About Silver?

John Rubino, who writes a newsletter on Substack, explains the factors behind gold's "epic run," pointing to underlying elements like Basel III and BRICS demand, as well as current events.

He believes gold has the wind at its back, although silver might be the better buy right now.

Keep reading...Show less
Gold bar and nuggets with text reading "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Lion Rock Jumps 60 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The Liberal Party of Canada and Prime Minister Mark Carney will form a minority government following their victory in Canada’s national election on Monday (April 28). The Liberals won 168 seats, just shy of the 172 required to form a majority, meaning the Liberal government will have to work with the Bloc Québécois or the NDP, which won 23 and 7 seats, respectively.

The Conservative Party of Canada, led by Pierre Poilievre, won 144 seats. While the CPC was originally expected to win the election, the trade war and sovereignty threats from new US President Donald Trump turned the tide in favor of Carney, who took a firmer stance against Trump. Other election issues included the high cost of living, housing, immigration and crime.

Both parties came into the election with visions for Canada’s economy, which included energy and infrastructure corridors, a commitment to energy production and a focus on resource nationalism.

Statistics Canada released February’s gross domestic product by industry figures on Wednesday (April 30). According to the data, the resource sector’s January gains were largely erased by contractions in February. Oil and gas extraction slipped by 2.8 percent, while mining and quarrying contracted by 2.6 percent during the month. Metal ore mining posted its second month of declines, falling 2.5 percent. On the other hand, non-metallic mineral mining climbed by 2.7 percent, including a 3.5 percent rise in potash mining.

South of the Border, The United States Bureau of Labor Statistics released its April employment situation summary on Friday (May 2). In the report, the agency said that 177,000 new nonfarm jobs were added to the economy in April, which exceeded analysts’ expectations of 133,000 jobs.

The biggest gains came in the healthcare sector, which added 51,000 workers, followed by transportation and warehousing, where 29,000 people found new employment.

Overall, the unemployment rate remained steady at 4.2 percent, and the participation rate was unchanged at 62.6 percent.

However, there were some caveats, most notably, downward revisions of 15,000 fewer jobs in February and 43,000 jobs in March than initially reported.. Long-term unemployment also ticked up by 179,000 to 1.67 million in April, the highest since March 2022.

While the number showed strength in the job market, many analysts expect these gains to be temporary, as the effects of US tariffs have yet to be felt in the economy.

The US government also announced on Wednesday that it signed a critical minerals deal with Ukraine. Under the terms of the agreement, the US will provide funding for Ukraine’s reconstruction in exchange for preferential access to the country’s natural resources, including rare earth minerals, which are critical to tech and military development and supply chains.

Additionally, the Trump administration announced it added 10 new projects to be fast-tracked to its federal permitting dashboard on Friday. The projects include the NorthMet copper and nickel project in Minnesota, which is a 50/50 joint venture between Teck (TSX:TECK.A,TECK.B,NYSE:TECK) and Glencore (LSE:GLEN,OTC Pink:GLCNF), as well as Sibanye Stillwater’s (NYSE:SBSW) Stillwater platinum and palladium project in Montana.

Markets and commodities react

In Canada, major indexes posted gains by the week's close. The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1.32 percent during the week to close at 25,031.51 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) moved up 0.01 percent to 656.40 and the CSE Composite Index (CSE:CSECOMP) climbed 2.52 percent to 122.75.

US equity markets also posted gains by close on Friday, with the S&P 500 (INDEXSP:INX) increasing 2.85 percent to close at 5,686.66, the Nasdaq-100 (INDEXNASDAQ:NDX) gaining 3.45 percent to 20,102.61 and the Dow Jones Industrial Average (INDEXDJX:.DJI) rising 2.8 percent to 41,317.44.

The gold price fell from recent highs, closing out Friday at US$3,233.98, down 2.56 percent over the week. The silver price was also down, shedding 3.21 percent during the period to US$32.03.

In base metals, the COMEX copper price fell 4.29 percent over the week to US$4.69 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was down 3.17 percent to close at 520.19.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.


Stock data for this article was retrieved at 3:30 p.m. EDT on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Lion Rock Resources (TSXV:ROAR)

Weekly gain: 60 percent
Market cap: C$20.51 million
Share price: C$0.32

Lion Rock Resources is a gold and critical mineral exploration company focused on advancing its Volney gold-lithium-tin project in South Dakota, United States.

The property is situated on 142 hectares of private land with surface and mineral rights in place. The site hosts historic gold and tin mining operations dating back to the 1920s. Additionally, the site contains the Giant Volney pegmatite body, from which 15 grab samples graded an average of 4.4 percent lithium oxide, with the highest grading 5.4 percent.

The most recent news from the project came on Thursday (May 1) when Lion Rock announced that it had started its 2025 exploration program, including a high-resolution magnetic survey, mapping and sampling. The company said that the program will target high-grade lithium, gold and tin, and results will be used to refine drill targets and expand known mineralized zones.

The company also released its year-end 2024 financial report on Tuesday (April 29).

2. Foremost Clean Energy (CSE:FAT)

Weekly gain: 42.86 percent
Market cap: C$14.27 million
Share price: C$1.30

Foremost Clean Energy is a uranium exploration company working to advance projects in the Athabasca Basin in Northern Saskatchewan, Canada.

In 2025, its primary focus has been its Hatchet Lake property, part of its Eastern Athabasca projects. The site consists of nine mineral claims within two blocks covering an area of 10,2012 hectares and has seen exploration dating back to the 1960s.

Foremost announced in October 2024 that it had completed the first phase of an option agreement with Denison Mines (TSX:DML,NYSEAMERICAN:DNN) to acquire a 20 percent stake in 10 uranium properties, including Hatchet Lake, in exchange for 1.37 million common shares.

Under the terms of the agreement, Foremost can earn up to a 70 percent stake in the properties in exchange for meeting certain milestones within 36 months.

This Thursday, Foremost announced a new uranium discovery at Hatchet Lake from initial results of the company’s ongoing inaugural drill program.

In the announcement, the company said the discovery included multiple intervals of mineralization, highlighting one grading 0.22 percent equivalent U3O8 over 0.9 meters, including an intersection of 0.5 percent over 0.1 meters.

3. Baru Gold (TSXV:BARU)

Weekly gain: 42.86 percent
Market cap: C$13.53 million
Share price: C$0.05

Baru Gold is a development company working to advance its Sangihe gold project in Indonesia.

The company holds a 70 percent stake in the 42,000 hectare project, with the remaining 30 percent interest held by three Indonesia-based companies.

Baru Gold is progressing towards approval of its production operations plan, which was redesigned due to the significant macroeconomic shift and increase in the gold price since its last mineral resource estimate in May 2017.

On February 14, the company published a technical report with an updated mineral resource estimate. The mineral resource estimate demonstrated an indicated resource of 114,000 ounces of gold and 1.93 million ounces of silver from 3.15 million metric tons of ore with grades of 1.12 grams per metric ton (g/t) gold and 19.4 g/t silver. The project also hosts an inferred resource of 91,000 ounces of gold and 1.08 million ounces of silver from 2.3 million metric tons of ore with grades of 1.22 g/t gold and 14.5 g/t silver.

The update marks a significant step towards government approval for production operations status, with the only remaining requirement being the payment of taxes.

The most recent news came on April 2 when the company announced the closing of the first tranche of a private placement for C$336,321.88. Funding raised through the placement will be used in part for payment of land use taxes on the Sangihe property.

4. Taranis Resources (TSXV:TRO)

Weekly gain: 42.5 percent
Market cap: C$21.07 million
Share price: C$0.285

Taranis Resources is a copper explorer focused on advancing work at its Thor project in Southeast British Columbia, Canada.

The site has seen previous mining dating back to the early 1900s and hosts at least seven different epithermal zones. In a February mineral resource estimate update, the company reported an indicated resource of 1.14 million metric tons of ore containing 27,400 ounces of gold, 5.58 million ounces of silver, 3.1 million pounds of copper, 47.8 million pounds of lead and 77.9 million pounds of zinc.

The most recent news from the Thor project came on April 9, when Taranis provided an update on its 2024 deep drilling program. The company finalized an alteration study of the drill holes, which encountered anomalous gold, zinc and arsenic, and plans to use the results to improve targeting and lower costs for its 2025 drilling program.

5. Black Iron (TSX:BKI)

Weekly gain: 41.18 percent
Market cap: C$38.02 million
Share price: C$0.12

Black Iron is an exploration and development company working to advance its Shymanivske iron project in Ukraine.

The 300 hectare property is located approximately 330 kilometers south-east of the capital of Kiev and is situated within the well-known iron ore mining district of KrivBass.

According to a March 2020 preliminary economic assessment, project economics demonstrated an after-tax net present value of US$1.44 billion at a discount rate of 10 percent with an internal rate of return of 34.4 percent and a payback period of 3.3 years.

The included mineral resource estimate reported a measured and indicated resource of 645.8 million metric tons of ore with an average grade of 31.6 percent total iron and 18.8 percent magnetic iron.

Although Black Iron did not release any news this week, the company’s share price gained alongside news of the US and Ukraine reaching a critical minerals agreement.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

Newmont Promotes Natascha Viljoen to President and Chief Operating Officer

Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) ("Newmont") today announced that Natascha Viljoen, Executive Vice President and Chief Operating Officer, has been promoted to President and Chief Operating Officer of the company. Ms. Viljoen will continue to report directly to Chief Executive Officer Tom Palmer.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250502352607/en/

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
North Bay Resources Announces Gold Concentrate Shipment, Advancement of Flotation Circuit at Bishop Gold Mill California

North Bay Resources Announces Gold Concentrate Shipment, Advancement of Flotation Circuit at Bishop Gold Mill California

North Bay Resources, Inc. (the " Company " or " North Bay ") (OTC: NBRI) is pleased to announce delivery of 344 lbs. of gold concentrate to the Company's refinery partner Just Refiners, Reno, NV. Assay splits have been sent to ALS Geochemistry Reno, Nevada. Ore from the Company's Fran Gold Project was processed at the Company's Bishop Gold Mill. The concentrate represents approximately 15 tons of gross ore processed. Recent repairs to the Company's RakerClassifier and replacement of balls in the ball mill have been implemented to produce a finer grind targeting minus 150 mesh. This grind has been determined to be optimal for recovery. The concentrate is from the gravity only circuit with the flotation circuit currently under optimization and testing ( See Pic 1) . The Company recently received settlement on its first concentrate shipment ( see Press Release dated April 7, 2025 ),

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Blue Lagoon Resources

Blue Lagoon Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×