A Canadian exploration company poised for discovery, Bold Ventures is focused on the exploration and development of high-potential battery minerals projects in tier 1 jurisdictions in Canada.
Bold Ventures (TSXV:BOL) is a Canadian mineral exploration company focusing on battery, critical and precious metals located in Northern Ontario. The company’s asset portfolio demonstrates its focus on these commodities to create consistent value with gold and meet the growing demand for battery and critical metals. Bold Ventures’ projects are located within three active regions throughout Ontario: Thunder Bay West, Wawa West and the Ring of Fire camp located in the James Bay Lowlands. The Thunder Bay properties host gold, copper and nickel mineralization, while the Wawa and the Ring of Fire properties have copper, nickel, zinc, silver and PGE mineralization.
The 100 percent owned Traxxin gold project, west of Thunder Bay, has hosted numerous high-grade gold intersections in drilling. The project is a joint venture between Bold Ventures, as the operator, and Lac des Milles First Nation, where the joint venture can earn up to 100 percent of the property.
An experienced team of explorers leads the company toward fully realizing the potential of its portfolio. The company’s leadership team has participated in three significant world-class discoveries, including:
This wealth of experience allows Bold Ventures to strategically acquire undervalued assets and apply sophisticated exploration techniques to identify significant mineral deposits.
The 100 percent owned Traxxin gold project is 130 kilometers west of Thunder Bay and has 154 claims covering 2,417 hectares. The project has excellent existing infrastructure and is road-accessible, cutting down on future development costs.
The Farwell project covers 15,901 acres comprising 113 cells, 18 multi-cells and six boundary claims. The property is located in the Lake Superior east region of Northeastern Ontario, approximately 55 kilometers northwest of Wawa, and in a proven gold camp.
The Burchell claim group includes approximately 216 cells and 49 boundary cells covering 5,070 hectares and is located 105 kilometers west of the port city of Thunder Bay in the south-central portion of Northwestern Ontario. The project is road-accessible through Trans-Canada Highway 11.
The Wilcorp gold project covers 266 hectares and consists of two contiguous properties in McCaul township, including four patent claims and one mineral claim. The asset is 14 kilometers east of the town of Atikokan, Ontario, and within the Thunder Bay Mining Division. New drill targets have been identified for follow-up exploration.
Bold owns a 40-percent working interest in all metals other than chromite and has the option to acquire up to an 80-percent working interest in all other metals found within the claims. The asset comprises 1,024 hectares and is within 300 meters of Wyloo Metal’s (formerly Noront Resources) Eagle’s Nest nickel-copper massive sulphide deposit.
The Ring of Fire asset is a future key project that will be given further attention as the Ring of Fire regional infrastructure and First Nation agreements are developed.
In June 2024, Bold Ventures signed an agreement to option a 100 percent interest in two claim groups out of the 14 claim groups within the Ring of Fire region to an arm’s-length party. The two claim groups total 1,050 hectares and comprise approximately 90 claim units. The option agreement includes aggregate cash payments totaling C$135,000 and aggregate exploration expenditures of C$250,000 over a four-year period. The deal also includes a 3 percent net smelter royalty for Bold, after the optionee earns a 100 percent interest by fulfilling the terms of the agreement.
David Graham has been active in the mineral exploration industry for over 40 years. Between 1997 and 2004 he was co-founder, president and CEO of Normiska Corporation, an industrial minerals and materials company with four production facilities in Canada and the United States.
Between 2006 and 2010 he was a director and vice-president of Noront Resources. During this time the company made major discoveries at Windfall Lake in Urban Twp., Quebec and the Ring of Fire in the James Bay Lowlands of Ontario. From 2010 until 2017 he was executive vice-president of Bold Ventures Inc. at which time, he was appointed president and CEO. Since 1986, Graham has been president of R. Bruce Graham and Associates, a mineral exploration and natural resource consulting firm founded in 1956.
Graham has worked extensively in Canada as well as in the United States, Scandinavia and Africa. His experience has frequently included working with First Nations and regulatory agencies on projects that ranged from a grassroots stage to advanced development.
With over 40 years of experience in the exploration industry, Bruce MacLachlan is a proven exploration manager and has been a key member of a number of mineral discovery teams. He has managed a wide range of exploration projects from grassroots through to the post discovery stage. MacLachlan has been responsible for project presentation, marketing and coordination within the investment space. He has worked with multiple exploration companies, including Noranda Exploration, Battle Mountain Gold and Canalaska Uranium. He was the exploration manager at Noront Resources and Rare Earth Metals. He is a co-founder and president of Emerald Geological Services (EGS), a consulting company created in 2001.
Coleman Robertson graduated from McGill University's geology program in 2014. Since that time, Robertson has worked exploring for gold, base metals and rare earth elements. His experience includes a wide range of exploration activities from grassroots to discovery stage projects. Employed by EGS since 2017, Coleman is vice-president of exploration for EGS and has experience with multiple projects in multiple jurisdictions, including Bold's gold and copper projects in Northwestern Ontario.
Robert Suttie has more than 25 years of experience, 10 of which were in public accounting prior to his tenure with the financial reporting group, Marrelli Support Services Inc., where he currently serves as president. Suttie specializes in management advisory services, accounting and the financial disclosure needs of the group’s publicly traded client base. He is regularly involved in initial public offerings, business combinations and asset carve-out and spin-out transactions. Suttie also serves as chief financial officer to several junior mining companies listed on the TSX, TSX Venture exchanges, CSE, as well as non-listed companies. Suttie leverages his skills and experience to become integral to the reporting issuers.
William R. Johnstone is the company’s corporate counsel and is the company’s corporate secretary. Johnstone has been a partner at Gardiner Roberts LLP since February 2005, practicing in the areas of corporate and securities law. Johnstone is the practice leader of the firm’s securities law group. Prior to that, Johnstone was the proprietor of Johnstone & Company, a boutique corporate and securities law firm, for 12 years. Johnstone has been practicing law for over 28 years. He is also a director and/or officer of six other TSX Venture Exchange listed companies.
Ian Brodie-Brown is an industry consultant and entrepreneur. Brodi-Brown is a graduate of the University of Toronto with many years of experience arranging venture capital for emerging companies, specializing in the mining industry. Brodie-Brown is the past president and chief executive officer of AurCrest Gold Inc., a TSX Venture-listed junior resource exploration company. Brodie-Brown is also a co-founder and president of Cathay Oil & Gas, a private company with foreign resource assets. He has a strong understanding of Aboriginal issues surrounding today’s mineral industry in Canada, and has successfully negotiated MOUs and exploration agreements with First Nation groups.
Steve Brunelle is a graduate of geology from Queen’s University with over 35 years’ experience in the resource industry. He is the chairman and a director of Rio Silver. Brunelle was a founder and officer/director of Corner Bay Silver, which discovered the Alamo Dorado Silver deposit in Mexico and was acquired by Pan American Silver. He was a founder and officer/director of Stingray Copper, which Mercator Minerals acquired for the El Pilar Copper deposit in Mexico. He presently sits on the board of several resource companies that are active in Canada and Peru.
Jeff Wareham has over 30 years in the financial services industry. He is a former vice-president of two major Canadian brokerage firms. In this role, he was actively involved in the IPO of the 2012 TSX Venture stock of the year, and the IPO of the largest revenue stock on the TSXV. He was directly involved in raising over $200 million for Canadian companies. He is currently CEO of Catch Capital Partners Inc., a private equity firm. He is a past director of Marquest Asset Management, an investment fund company focused on Canadian resource investments. He is also a director of Certive Solutions, a publicly listed US healthcare revenue cycle company. He hosted a weekly radio show for several years, and conducted many small cap investment interviews. Wareham graduated from Western University in 1990, with a degree in economics and English. He has earned several financial industry designations. He has been a professor of economics and a guest speaker on economics and political science at Canadian post-secondary institutions.
Bold Ventures Inc. (TSXV: BOL) would like to cordially invite you to visit us at Booth #520 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 19 - Monday January 20, 2025.
The Vancouver Resource Investment Conference 2025 will feature over 120 expert speakers, including globally respected economists, legendary money managers, and investors.
This year's conference promises an array of exceptional opportunities, including exclusive keynote sessions featuring 120 renowned speakers, unparalleled networking with over 5,000 industry professionals and investors, and interactive exhibits showcasing groundbreaking innovations across the resource sector. Attendees will gain invaluable insights into the commodities landscape, exploring emerging trends in precious metals, energy, critical minerals, and beyond.
For more information and/or to register for the conference please visit: https://cambridgehouse.com/vancouver-resource-investment-conference.
We look forward to seeing you there.
About the Vancouver Resource Investment Conference:
The Vancouver Resource Investment Conference has been the epicenter of junior mining investment in Canada for 25 years and attracts over 5000 mining investors annually. Previous years have been attended by former Prime Minister Stephan Harper and former President of Mexico Felipe Calderon.
The VRIC will include a marketplace of over 300 investment opportunities in the mining industry, spanning early-stage exploration to advanced producing mines.
For further information:
Bruce MacLachlan
President & COO
+1 07052660847
bruce@boldventuresinc.com
https://www.boldventuresinc.com/
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Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that the Company will have booths at the Vancouver Resource Investment Conference (VRIC) from January 19 to 20 (booth 520), and AME Roundup from January 22 to 23 (booth 1524). The Company's President and COO, Bruce MacLachlan, and the Company's V.P. Exploration, Coleman Robertson, will be present for the duration of these two conferences, as well as the preceding Metals Investor Forum from January 17 to 18.
The Bold exhibition booth will showcase various samples, maps and photographs from the Company's Burchell Gold and Copper Project, the Company's Traxxin Gold Project, and the Company's Wilcorp Gold Project. Of particular interest is the recent high-grade gold discovery at the Burchell Project. The 111 Zone discovery yielded impressive gold values ranging from 10 ppb Au up to 68,000 ppb Au (68 g/t Au or 2.2 oz./t Au). See Bold press releases dated December 12, 2024 and January 9, 2025. The exhibition booth will also showcase newly obtained results from recent sampling programs at the three properties, which Bold is pleased to present below.
Burchell Gold-Copper Project - MMITM Soil Sampling Results
Results have recently been obtained from a November 2024 MMITM soil survey in the northwest corner of the Burchell Property, designed to test the strike extension of the Moss Trend on the adjacent Moss Gold Property to the west, one of several subparallel polymetallic trends in the region (see Goldshore Resources Inc.'s September 28, 2023 news release). 74 samples were collected on four northwest-southeast lines, perpendicular to the general strike of the country rocks and regional gold trends. Lines were spaced at 200-250 meters, 550-1100 m in length, with 50-meter sample station spacing.
Response ratios (RRs) were calculated for each sample by element, according to SGS guidelines, which state that 'response ratios in general need to be greater than 2-5 times background before being considered "anomalous".' Notable results include several coincident gold (Au) – copper (Cu) – molybdenum (Mo) response ratios >10 in the northern half of the survey (see Figure 1), with Au RRs up to 40; Cu RRs up to 61, and Mo RRs up to 369. Other notable results include zinc (Zn) RRs up to 93 and uranium (U) RRs up to 52. These anomalies provide a basis for further exploration in this area, which could include infill soil sampling or ground geophysics to better define targets for drilling.
The Burchell Gold-Base Metal Project is located approximately 105 km west of the port city of Thunder Bay in the south-central portion of Northwestern Ontario (see Figure 2). The claims are accessible via logging roads and secondary Highway 802 south from Trans-Canada Highway 11 travelling west from Thunder Bay. For additional information regarding the Burchell Gold-Copper Project visit the Burchell Gold-Copper Project Page here.
Traxxin Gold Project - Prospecting and Sampling Results
Recent assay results ranging from 345 ppb Au have been obtained from 20 grab samples collected during a November 2024 prospecting and sampling program at the Traxxin Property. 3 gold anomalies from 170 ppb Au to 345 ppb Au were obtained from samples of strained, silicified tonalite with local quartz veining in outcrop on an island northeast of the Traxxin Main Zone (see Figure 3). The November program took advantage of lower-than-average water levels to carry out shoreline prospecting. Descriptions of anomalous samples are included in Table 1 below. These results suggest that gold-bearing shear zones extend northeast from the mainland into Bedivere Lake, which warrants further investigation through ground geophysics and diamond drilling. For a full description of the Traxxin Gold project visit the Traxxin Gold Project Page here.
The Traxxin claim group is located 130 km west of Thunder Bay, Ontario (see Figure 2). The claims are road accessible via TransCanada Highway 11. Local infrastructure includes rail, power and an experienced mineral exploration workforce and mining supply, all located within hours of the property.
Wilcorp Gold Project - Prospecting and Sampling Results
Assays from 7.28 g/t gold (Au) have been obtained from 26 grab samples collected during a November 2024 prospecting and sampling program at the Wilcorp Property. The 7.28 g/t Au result corresponds to a sample of silicified mafic schist with 4-5% disseminated pyrite and arsenopyrite, in trench rubble / subcrop located approximately 60 meters along strike to the west-southwest of a September 2024 sample which returned 16.3 g/t Au (see October 31, 2024 news release and Figure 4 and Figure 5). These results, in conjunction with September 2024 and 2012 results, suggest two sub-parallel gold-bearing zones in this area (see Figure 5).
Other newly identified anomalies include: 278 ppb Au from quartz vein subcrop close to where the historical Eagle Prospect is thought to be located (see Figure 4), as well as 333 ppb Au from subcrop of chlorite carbonate schist with quartz veining in the southern part of the Property, associated with strong I.P. and E.M. anomalies (see Figure 4). Descriptions of anomalous samples are included in Table 1 below.
The Wilcorp claim group is located approximately 13 km east of the town of Atikokan, Ontario (see Figure 2) in McCaul Township, and 17 km south of Agnico Eagle's Hammond Reef deposit, which contains combined reserves and resources of 5.6 Moz of gold at 0.71 gpt Au (Agnico Eagle website, 2022). For a full description of the Wilcorp Gold Project visit the Wilcorp Gold Project Page here.
Table 1
| Table 1: November 2024 Traxxin and Wilcorp Project Significant Results | ||||||||
| Project | Sample No. | Date | Area | X (UTM Z15) | Y (UTM Z15) | Source | Description | Au ppb |
| Traxxin | C277530 | 2024-11-08 | Island north of Main Zone | 654518.5 | 5412877 | Outcrop | Foliated, silicified tonalite with 1% pyrite blebs and local grey blebs of quartz. | 170 |
| Traxxin | C277531 | 2024-11-08 | Island north of Main Zone | 654517.5 | 5412876 | Outcrop | Glassy, grey quartz veining with 1% pyrite in foliated, silicified tonalite. Outcrop 1m SW of C277530. | 345 |
| Traxxin | C277540 | 2024-11-08 | Island north of Main Zone | 654549 | 5412862 | Talus | Tonalite with recrystallized coarse quartz, sericite alteration, trace-0.5% pyrite blebs. | 221 |
| Traxxin | C277047 | n/a | n/a | n/a | n/a | n/a | Quartz pebble blank. | 2.5 |
| Traxxin | C277048 | n/a | n/a | n/a | n/a | n/a | Standard OREAS 24d. | 2.5 |
| Wilcorp | C277041 | n/a | n/a | n/a | n/a | n/a | Quartz pebble blank. | 2.5 |
| Wilcorp | C277042 | n/a | n/a | n/a | n/a | n/a | Standard OREAS 230. | 337 |
| Wilcorp | C277069 | 2024-11-02 | Northern Trenches 2012 14 grammer | 615759 | 5403848 | Rubble | Quartz-ankerite vein with silicified mafic schist wall rock containing 1% pyrite-arsenopyrite-chalcopyrite, 0.5% sulphides overall. Quartz rubble / subcrop on opposite side of trench from Bjorkman 8 grammer. | 932 |
| Wilcorp | C277070 | 2024-11-02 | Northern Trenches 2012 14 grammer | 615759.2 | 5403848 | Rubble | Similar to sample C277069, also from rubble 0.5m to the SSE. | 207 |
| Wilcorp | C277071 | 2024-11-02 | Northern Trenches 2012 14 grammer | 615760 | 5403848 | Rubble | Silicified mafic schist, minor quartz stringers, 4-5% disseminated pyrite-arsenopyrite. Rubble 1m E of C277070. | 7280 |
| Wilcorp | C277075 | 2024-11-02 | Patent Junction, Eagle Prospect | 615998 | 5403798 | Rubble | Quartz ankerite veining in mafic schist, trace pyrite. Rubble / subcrop, may have been blasted once. | 278 |
| Wilcorp | C277086 | 2024-11-03 | I.P. anomaly MC-11 | 617138 | 5403203 | Frost heave | Chlorite-carbonate schist with minor chalcopyrite blebs and minor silvery arsenopyrite, minor to moderate quartz-ankerite stringers. | 333 |
Ring of Fire News
The Company congratulates Canada Chrome Corporation ("CCC") for its recent selection as a member of the USA Defence Industrial Base Consortium. The press release can be accessed through this link.
The Black Horse Chromite Deposit is part of the Koper Lake Project where CCC is the Operator of the chromite exploration effort. Bold owns a 10% carried interest (through to production) in the Black Horse Chromite NI 43-101 Inferred Resource of 85.9 Mt grading 34.5% Cr2O3 at a cut-off of 20% Cr2O3 (KWG Resources Inc., NI 43-101 Technical Report, Aubut 2015). Additionally, Bold owns a 40% working interest in all other metals found within the Koper Lake claims and has the right to earn up to an 80% working interest in all other metals. Bold has the Right of First Refusal on a 1% NSR covering all metals found within the claim group.
The Black Horse is contiguous with the Blackbird Chromite deposits owned by Wyloo, Ring of Fire Ltd. (formerly Noront Resources Inc.). Of additional note, the Koper Lake claims are located approximately 300 m from Ring of Fire Metal's Eagle's Nest Ni-Cu Massive Sulphide Deposit that is in the permit acquisition stage. Chromite, nickel and copper are critical minerals that will play an important role in the electrification plans of Ontario and North America. The Company is encouraged by these ongoing developments in this emerging critical mineral mining camp.
The environmental assessment process for all-weather road access to the Ring of Fire is being developed as three proposed road projects: the Northern Road Link, the Marten Falls Community Access Road and the Webeque Supply Road. Information and progress regarding these projects may be accessed via the links provided on Bold's Critical and Battery Metals page.
Farwell Gold-Copper Project
Bold is pleased to announce that it has signed a fourth amendment to the Farwell Property Option Agreement dated March 12, 2020 (the "Farwell Option Agreement") between three arms-length individuals as Vendors and Bold as the Optionee of the property.
On July 3, 2023, the Company and the Vendors entered into a First Amending Agreement (the "Farwell First Amendment") to amend the Farwell Option Agreement. Subsequently, on September 13, 2023, the Company and the Vendors entered into a Second Amending Agreement (the "Farwell Second Amendment") to further amend the Farwell Option Agreement (see Bold press release dated October 3, 2023). On April 23, 2024, the Vendors and Bold entered into a Third Amending Agreement (the "Farwell Third Amendment" and together with the Farwell First Amendment and Farwell Second Amendment, the "Amended Farwell Option Agreement") (see Bold press release dated April 29, 2024) to amend the Farwell Option Agreement.
The Vendors and Bold have now signed a Fourth Amending Agreement (the "Farwell Fourth Amendment") amending the Amended Farwell Option Agreement such that the Option can be exercised by the issuance of an aggregate of 1,550,000 common shares of Bold ("Shares") (reducing the total number of Shares Issuable by 100,000), 750,000 Shares of which have already been issued, the payment of an aggregate of $95,000 in cash (reducing the cash consideration from $225,000), $75,000 of which has already been paid, and expending $550,000 on exploration (reducing the exploration expenditure from $1,000,000), $250,000 of which expenditures have been made.
In consideration for entering into the Farwell Fourth Amendment, the Vendors will be paid $5,000 and issued 200,000 Shares following receipt of regulatory approval to the Farwell Fourth Amendment and receipt of an exploration permit and an exploration agreement that allows for the exploration of the Property. The following are the new schedules of cash payments, Share issuances and expenditure requirements:
a cash payment of $5,000 will be due on or before September 1, 2025; and
a cash payment of $10,000 will be due on or before September 1, 2026,
for aggregate cash payments of $15,000;
200,000 Shares to be issued on or before September 1, 2025; and
400,000 Shares to be issued on or before September 1, 2026,
for aggregate Share issuances of 600,000 Shares;
an aggregate of $350,000 of exploration work to be completed by September 1, 2025; and
an aggregate of $550,000 of exploration work to be completed by September 1, 2026.
The Vendors retain a 3% Net Smelter Royalty (3% NSR) in the property. This Farwell Fourth Amendment increases the cost of Bold's right to buy back half (1.5%) of the 3% NSR from $2,000,000 to $2,500,000 leaving a 1.5% NSR in favour of the Vendors. The Company also has the right of first refusal to purchase the remaining 1.5% NSR.
If a National Instrument 43-101 Technical Report is prepared on the Property with an indicated resource of at least 250,000 ounces of gold or gold equivalent and approved by all necessary regulatory authorities, the Vendors shall be paid the additional sum of $150,000. If a National Instrument 43-101 Technical Report is prepared on the Property with an indicated resource of at least 500,000 ounces of gold or gold equivalent, approved by all necessary regulatory authorities, the Vendors shall be paid the additional sum of $250,000.
All Shares to be issued will be subject to a four month and one day hold period from the date of issuance. The Farwell Fourth Amendment is subject to approval of the TSX Venture Exchange.
Bold Ventures has submitted an early exploration permit application to the Ontario Mineral Lands Administration System that anticipates an exploration program consisting of geophysical and geochemical surveys and diamond drilling. The Company is currently negotiating exploration agreements with local First Nation interests.
The Farwell claim group is located in the east Lake Superior region of Northeastern Ontario approximately 55 km northwest of Wawa, Ontario (see Figure 2). The Trans-Canada Highway 17 connects Wawa with Sault Ste. Marie to the south and the towns of White River and Marathon to the northwest. For a full description of the Farwell Gold - Copper Project visit the Farwell Gold-Copper Project Page here.
QAQC Protocols
Grab samples at the Wilcorp and Traxxin Properties were collected, documented and photographed in the field, then placed in sealed bags and delivered to Activation Laboratories (ActLabs) in Thunder Bay, which is an ISO / IEC 17025 accredited laboratory. Grab sample collection is subject to Bold's internal quality assurance / quality control (QAQC) protocols, which include the insertion of blank material and certified reference material into each batch of samples submitted. Samples referenced in this news release were analyzed using ActLabs methods 1A2-50, a 50g fire assay with atomic absorption finish, with over-limit results analyzed using method 1A3-50, a 50g fire assay with gravimetric finish. Samples were also analyzed using ActLabs method 1F2, a 4-acid near total digestion with ICP-OES finish, yielding geochemical results for 35 elements.
MMITM samples were collected according to SGS Laboratories methodology, and shipped to SGS Laboratories in Burnaby, B.C., where they were analyzed according to SGS' MMI-M weak leach method, yielding concentrations for 53 elements.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., the Company's V.P. Exploration and a qualified person (QP) for the purposes of NI 43-101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold Critical and Battery Minerals page.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.
| "Bruce A MacLachlan" | "David B Graham" |
| Bruce MacLachlan | David Graham |
| President and COO | CEO |
| Direct line: 416-864-1456 | |
| Email: bruce@boldventuresinc.com |
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.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that it has received additional grab sample results ranging from 10 ppb Au up to 68,000 ppb Au (68 gt or 2.2 ozt gold (Au)) at the newly identified 111 ("one-eleven") Zone at its Burchell Gold and Copper Property ("the Property"). The samples were collected during a short follow up sampling program in December 2024, in the vicinity of previous samples taken in November 2024. The November samples returned values ranging from
The 8 new samples collected at the 111 Zone in December consist of strongly sheared, strongly silicified, sericitized, tuffaceous mafic to intermediate volcanics, containing generally minor but up to 5% disseminated pyrite, and several fine specks of visible gold in the case of the sample which returned 68 g/t Au. The east-northeast-trending zone has limited exposure and appears to be at least 3 meters wide in outcrop, situated within a broad (>100 m wide) alteration zone that coincides with a prominent magnetic low. The zone of anomalous gold remains open in all directions.
Except for limited prospecting and sampling along strike during previous work by the Company, the 111 Zone has seen no known historical exploration work. During the upcoming 2025 field season, the Company intends to carry out backhoe stripping as well as mapping and sampling to ascertain the width of the zone. This work will be combined with additional prospecting and soil sampling along the 111 Zone and its strike extension to the southwest and northeast.
For a sketch map of the gold-bearing zone see Figure 1.
For descriptions of samples collected in December 2024 please see Table 1 below.
For descriptions and locations of samples collected in November 2024 please see Bold press release dated December 12, 2024.
Photo 1: Sample C277097, 68 g/t Au or 2.2 oz/t gold (Au)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5762/236526_c3c6912c74989af5_001full.jpg
Table 1
| Table 1: December 2024 111 Zone Grab Samples | |||||||
| Sample No. | Date | Area | X (UTM Z15) | Y (UTM Z15) | Source | Description | Au ppb |
| C277092 | 2024-12-04 | 111 Zone | 676832.3 | 5380320 | Outcrop | Strongly silicified, sheared, sericitized mafic volcanic with rusty yellow-brown (iron carb + sericite?) seams / shear planes, trace pyrite. Outcrop 0.5m NE of C277090 from Nov. (56.9 g/t Au sample). | 66 |
| C277093 | 2024-12-04 | 111 Zone | 676833.1 | 5380321 | Outcrop | Similar to previous but local bands of increased silica alteration associated with pyrite, trace-0.5% overall. Outcrop 1m NE of previous. | 10 |
| C277094 | 2024-12-04 | 111 Zone | 676833.9 | 5380321 | Outcrop | Similar to previous. Outcrop 1m NE of previous. | 29 |
| C277095 | 2024-12-04 | 111 Zone | 676835.5 | 5380323 | Outcrop | Similar to C277092. Outcrop 2.5m NE of previous. | 304 |
| C277096 | 2024-12-04 | 111 Zone | 676835.1 | 5380323 | Outcrop | Similar to C277092. Outcrop 0.5m NW of previous. | 54 |
| C277097 | 2024-12-04 | 111 Zone | 676832.5 | 5380323 | Subcrop | Similar to C277092 but with trace visible gold within or near orange-brown seams / shear planes. Subcrop near Nov. sample C277089. | 68000 |
| C277098 | 2024-12-04 | 111 Zone | 676841 | 5380329 | Outcrop | Similar to C277092 but more quartz-flooded, with 4-5% pyrite as stringers / disseminations. | 1810 |
| C277099 | 2024-12-04 | 111 Zone | 676843 | 5380327 | Outcrop | Strongly silicified, sheared mafic volcanic with minor pyrite. Outcrop 2.5m SE of previous. | 80 |
Photo 2: 111 Zone in outcrop, southwest end of sampling, looking north
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5762/236526_c3c6912c74989af5_002full.jpg
QAQC Protocols
Grab samples were collected, documented and photographed in the field, then placed in sealed bags and delivered to Activation Laboratories (ActLabs) in Thunder Bay, which is an ISO / IEC 17025 accredited laboratory. Grab sample collection is subject to Bold's internal quality assurance / quality control (QAQC) protocols, which include the insertion of blank material and certified reference material into each batch of samples submitted. Samples referenced in this news release were analyzed using ActLabs methods 1A2-50, a 50g fire assay with atomic absorption finish, with over-limit results analyzed using method 1A3-50, a 50g fire assay with gravimetric finish.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., the Company's V.P. of Exploration and a qualified person (QP) for the purposes of NI 43-101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold Critical and Battery Minerals page.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.
| "Bruce A MacLachlan" | "David B Graham" |
| Bruce MacLachlan | David Graham |
| President and COO | CEO |
| Direct line: (705) 266-0847 | |
| Email: bruce@boldventuresinc.com |
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.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236526
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Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that it has received assays up to 56.9 gt gold (Au) from a newly identified zone at its Burchell Property ("the Property"), sampled during a prospecting and field reconnaissance program in November of this year. The high-grade sample was collected approximately 15 meters southwest of 2023 samples which returned between 0.04 and 0.51 gt Au. The zone has now been named the 111 (one-eleven) Zone. A geological sketch map of the outcrop exposure was made and three grab samples were collected along or near the zone during the 2024 program (see Table 1 below for coordinates, descriptions, and results). Assay results ranged from
| Table 1: 111 Zone 2024 Results | |||||||||
| Sample | Date | Area | X (UTM Z15) | Y (UTM Z15) | Description | Assay Certificate No. | Au ppb1 (Fire Assay) | Au ppb2 (Fire Assay) | Au ppb3 (Photon Assay) |
| C277089 | 2024-11-06 | 111 Zone area | 676832 | 5380323 | Strongly silicified mafic volcanic with 0.5% fine disseminated pyrite. Loose outcrop / frost heave. | A24-13987 | 2400 | 2670 | 2550 |
| C277090 | 2024-11-06 | 111 Zone | 676832 | 5380320 | Strongly silicified mafic volcanic with 0.5-1% fine disseminated pyrite. Loose outcrop or frost heave adjacent to zone in outcrop, about 3m south of previous sample. | A24-13987 | 56300 | 56900 | 56800 |
| C277091 | 2024-11-06 | 111 Zone | 676818 | 5380332 | Strongly silicified sericite schist. Angular boulder, likely talus from nearby slope. | A24-13987 | 48 | n/a | |
| C277043 | n/a | n/a | n/a | n/a | Quartz pebble blank. | A24-13987 | n/a | n/a | |
| C277044 | n/a | n/a | n/a | n/a | Standard OREAS 24d. | A24-13987 | n/a | n/a | |
The 111 Zone is hosted in strongly silicified, sericitized, sheared mafic volcanics with generally See Figure 3). The package of rocks occupies a prominent northeast-trending magnetic low which may be traceable for up to 10.4 kilometers across the Property, possibly representing a geological structure. (See Figure 2).
QAQC Protocols
Grab samples were collected, documented and photographed in the field, then placed in sealed bags and delivered to Activation Laboratories (ActLabs) in Thunder Bay, which is an ISO / IEC 17025 accredited laboratory. Grab sample collection is subject to Bold's internal quality assurance / quality control (QAQC) protocols, which include the insertion of blank material and certified reference material into each batch of samples submitted. Samples referenced in this news release were analyzed using ActLabs methods 1A2-50, a 50g fire assay with atomic absorption finish, with over-limit results analyzed using method 1A3-50, a 50g fire assay with gravimetric finish. Sample rejects were analyzed using Actlabs method PhotonAssayTM, as an additional check on the gold results. Finally, samples were analyzed using ActLabs method 1F2, a 4-acid near total digestion with ICP-OES finish, yielding geochemical results for 35 elements.
Burchell Property Information
The Burchell Project ("the Project" or "the Property") is located approximately 100 km west of Thunder Bay, accessible by road south of Trans-Canada Highway 11. The Project is located in the Western Shebandowan Greenstone Belt, contiguous with Goldshore Resources Inc.'s (GSHR) Moss Gold Project which hosts the Moss Gold Deposit (Indicated Resource of 1.23 Moz Au at 1.22 g/t Au, Inferred Resource of 4.92 g/t Au at 1.09 g/t Au. (See Figure 1). The deposit lies within a major 25 km northeast-trending structural corridor which also hosts the past-producing North Coldstream Mine and the Osmani Gold deposit (See Figure 1). 1.8 km of this mineralized trend lies in the northwest corner of the Burchell Property, where historical diamond drilling intersected up to 0.9 g/t Au over 6.4 m, including 4.8 g/t Au over 0.3 m. (See Figure 2).
The Burchell Property is comprised of 242 claims totalling more than 4,500 hectares. Major mineral occurrences on the Property include:
The Hermia Cu-Au Prospect - Located in the western part of the property. Hosted in a zone of deformed felsic to mafic volcanics containing Cu mineralization associated with minor Au, Ag, Mo, Zn and Ni. Historical diamond drilling carried out over a strike length of 2.8 km from 1964 to 2008. Intersections in core include 1% Cu over 5.6 m and 1.68 g/t Au over 1.45 m. (See Figures 1 and 2).
Historical Trenches - Located in the southwest corner of the Burchell Property. Hosted in sheared felsic tuff to lapilli tuff with narrow quartz veining, yielding results up to 42.2 g/t Au over 0.6 m in a chip sample (Osmani 2017, see reference below). (See Figure 2).
The 111 Zone - Located in the central part of the Property. 3m+ wide gold-bearing zone in strongly silicified and sericitized, sheared mafic volcanics containing generally See Figures 2 and 3).
"We are extremely pleased with the new high-grade discovery, which adds significant value to the Burchell Project and gives the exploration team new target areas to focus on in the coming year," said Bruce MacLachlan, President and COO of Bold Ventures Inc.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo.,Vice President, Exploration of Bold and a qualified person (QP) for the purposes of NI 43-101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold Critical and Battery Minerals page.
References:
Osmani, A., 2017. NI 43-101 Technical Report on the Burchell Lake Property, Northwestern Ontario, Thunder Bay Mining District, NTS 52B/10SE, for Tanager Energy Inc.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.
| "Bruce A MacLachlan" Bruce MacLachlan President and COO Direct line: (705) 266-0847 Email: bruce@boldventuresinc.com | "David B Graham" David Graham CEO |
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.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233458
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Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that it has signed a fourth amendment to the Burchell Gold and Copper Project Option Agreement dated April 28, 2022 (the "Burchell Option Agreement") between three arms-length individuals as Vendors and Bold as the Optionee of the property.
On July 3, 2023, the Company and the Vendors entered into a First Amending Agreement (the "Burchell First Amendment") to amend the Option Agreement. Subsequently, on September 13, 2023, the Company and the Vendors entered into a Second Amending Agreement (the "Burchell Second Amendment") to further amend the Burchell Option Agreement and Burchell First Amendment (see Bold press release dated September 13, 2023). Subsequently, on April 19, 2024, the Vendors and Bold entered into a Third Amending Agreement (the "Burchell Third Amendment") and together with the Burchell First Amendment and Burchell Second Amendment, (the "Amended Burchell Option Agreement") to further amend the Burchell Option Agreement and Burchell First Amendment and Burchell Second Amendment (see Bold press release dated April 29, 2024).
The Vendors and Bold have now signed a Fourth Amending Agreement (the "Burchell Fourth Amendment") amending the Amended Burchell Option Agreement such that the Option can be exercised by the issuance of an aggregate of 2,600,000 common shares of Bold ("Shares"), 1,000,000 Shares of which have already been issued, the payment of an aggregate of $100,000 in cash (reducing the cash consideration from $500,000), $40,000 of which has already been paid, and expending $700,000 on exploration (reducing the exploration expenditure from $1,500,000), none of which expenditures have been made.
In consideration for the entering into the Burchell Fourth Amendment, the Vendors will be paid $10,000 and issued 200,000 Shares following receipt of regulatory approval to the Burchell Fourth Amendment. The following are the new schedules of cash payments, Share issuances and expenditure requirements:
A cash payment of $10,000 will be due on August 31, 2025;
A cash payment of $15,000 will be due on August 31, 2026; and
A cash payment of $25,000 will be due on August 31, 2027,
for aggregate cash payments of $50,000;
250,000 Shares to be issued on August 31, 2025;
400,000 Shares to be issued on August 31, 2026; and
750,000 Shares to be issued on August 31, 2027;
for aggregate Share issuances of 1,400,000 Shares;
$125,000 of exploration work to be completed by August 31, 2025;
an aggregate of $300,000 of exploration work to be completed by August 31, 2026;
and an aggregate of $700,000 of exploration to be completed by August 31, 2027.
The Vendors retain a 3% Net Smelter Royalty (3% NSR) in the property. This Burchell Fourth Amendment increases the cost of Bold's right to buy back half (1.5%) of the 3% NSR from $2,000,000 to $2,500,000 leaving a 1.5% NSR in favour of the Vendors. The Company also has the right of first refusal to purchase the remaining 1.5% NSR.
If a National Instrument 43-101 Technical Report is prepared on the Property with an indicated resource of at least 250,000 ounces of gold or gold equivalent and approved by all necessary regulatory authorities, the Vendors shall be paid the additional sum of $150,000. If a National Instrument 43-101 Technical Report is prepared on the Property with an indicated resource of at least 500,000 ounces of gold or gold equivalent, approved by all necessary regulatory authorities, the Vendors shall be paid the additional sum of $250,000.
All Shares to be issued will be subject to a four month and one day hold period from the date of issuance. The Burchell Fourth Amendment is subject to approval of the TSX Venture Exchange.
For a review of this project, visit the Burchell Battery and Precious Metals Project.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold website here.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.
| "Bruce A MacLachlan" Bruce MacLachlan President and COO Direct line: (705) 266-0847 Email: bruce@boldventuresinc.com | "David B Graham" David Graham CEO |
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.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231337
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B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces that it is offering convertible senior unsecured notes due 2030 (the "Notes") in an aggregate principal amount of US$350 million (the "Offering"). The Company expects to grant the initial purchasers of the Notes an option for a period of 15 days to purchase up to an additional US$52.5 million aggregate principal amount of Notes.
The Company intends to use the net proceeds from the Offering to fund working capital requirements and for general corporate purposes. In order to reduce interest expense, the Company will initially apply the net proceeds to pay down the outstanding balance under the Company's revolving credit facility (the "Revolving Credit Facility") and then subsequently use future draws on the Revolving Credit Facility to fund such working capital requirements and for general corporate purposes.
The interest rate and the initial conversion rate of the Notes will be determined by B2Gold and the initial purchasers and will depend on market conditions at the time of pricing of the Offering. The Notes will bear cash interest semi-annually at a fixed rate and be convertible by holders into common shares of the Company (the "Shares").
B2Gold will have the right to redeem the Notes in certain circumstances and holders will have the right to require B2Gold to repurchase their Notes upon the occurrence of certain events.
In connection with the offering of the notes B2Gold intends to enter into a cash settled total return swap with respect to up to approximately US$50 million of Shares with one of the initial purchasers of the Notes. The total return swap is intended to give B2Gold economic exposure to its Shares during the term of the total return swap, which is expected to be approximately one month. In connection with establishing its initial hedge of the total return swap, B2Gold expects that the total return swap counterparty or its affiliate may purchase Shares at the close of trading on the date of the pricing of the Offering. Such purchases may have the effect of increasing (or reducing the size of any decrease in) the market price of the Shares. Any unwind of such hedge positions, including at settlement of the total return swap, may have the effect of decreasing (or reducing the size of any increase in) the market price of the Shares or the Notes.
The Notes and the Shares issuable upon the conversion thereof have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or qualified by a prospectus in Canada. The Notes and the Shares may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration under the Securities Act. The Notes will be offered only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act). Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws.
This news release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About B2Gold
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.
ON BEHALF OF B2GOLD CORP.
"Clive T. Johnson"
President and Chief Executive Officer
Source: B2Gold Corp.
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.
This news release contains forward-looking statements which constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 (collectively, "Forward-looking Statements"). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements relating to the Offering, the option to purchase additional Notes, if any, the terms of the Notes, the anticipated timing for closing of the Offering, the anticipated use of proceeds and the intention to enter into the total return swap. These Forward-looking Statements are based on certain assumptions that B2Gold has made in respect thereof as at the date of this news release. Often, but not always, these Forward-looking Statements can be identified by the use of words such as "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "planned", "reflecting", "will", "anticipated", "estimated" "containing", "remaining", "to be", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of B2Gold to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, without limitation, risks relating to the need to satisfy the conditions expected to be set forth in the purchase agreement for the Notes; the need to satisfy regulatory and legal requirements with respect to the Offering; as well as those factors discussed under "Risk Factors" in B2Gold's Annual Information Form for the fiscal year ended December 31, 2023, a copy of which can be found on the Company's profile on the SEDAR+ website at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. Although B2Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
B2Gold's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. B2Gold's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
Investor Relations: Michael McDonald VP, Investor Relations & Corporate Development +1 604-681-8371 investor@b2gold.com Cherry DeGeer Director, Corporate Communications +1 604-681-8371 investor@b2gold.com
News Provided by GlobeNewswire via QuoteMedia
B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces that it is offering convertible senior unsecured notes due 2030 (the "Notes") in an aggregate principal amount of US$350 million (the "Offering"). The Company expects to grant the initial purchasers of the Notes an option for a period of 15 days to purchase up to an additional US$52.5 million aggregate principal amount of Notes.
The Company intends to use the net proceeds from the Offering to fund working capital requirements and for general corporate purposes. In order to reduce interest expense, the Company will initially apply the net proceeds to pay down the outstanding balance under the Company's revolving credit facility (the "Revolving Credit Facility") and then subsequently use future draws on the Revolving Credit Facility to fund such working capital requirements and for general corporate purposes.
The interest rate and the initial conversion rate of the Notes will be determined by B2Gold and the initial purchasers and will depend on market conditions at the time of pricing of the Offering. The Notes will bear cash interest semi-annually at a fixed rate and be convertible by holders into common shares of the Company (the "Shares").
B2Gold will have the right to redeem the Notes in certain circumstances and holders will have the right to require B2Gold to repurchase their Notes upon the occurrence of certain events.
In connection with the offering of the notes B2Gold intends to enter into a cash settled total return swap with respect to up to approximately US$50 million of Shares with one of the initial purchasers of the Notes. The total return swap is intended to give B2Gold economic exposure to its Shares during the term of the total return swap, which is expected to be approximately one month. In connection with establishing its initial hedge of the total return swap, B2Gold expects that the total return swap counterparty or its affiliate may purchase Shares at the close of trading on the date of the pricing of the Offering. Such purchases may have the effect of increasing (or reducing the size of any decrease in) the market price of the Shares. Any unwind of such hedge positions, including at settlement of the total return swap, may have the effect of decreasing (or reducing the size of any increase in) the market price of the Shares or the Notes.
The Notes and the Shares issuable upon the conversion thereof have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or qualified by a prospectus in Canada. The Notes and the Shares may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration under the Securities Act. The Notes will be offered only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act). Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws.
This news release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About B2Gold
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.
ON BEHALF OF B2GOLD CORP.
"Clive T. Johnson"
President and Chief Executive Officer
Source: B2Gold Corp.
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.
This news release contains forward-looking statements which constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 (collectively, "Forward-looking Statements"). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements relating to the Offering, the option to purchase additional Notes, if any, the terms of the Notes, the anticipated timing for closing of the Offering, the anticipated use of proceeds and the intention to enter into the total return swap. These Forward-looking Statements are based on certain assumptions that B2Gold has made in respect thereof as at the date of this news release. Often, but not always, these Forward-looking Statements can be identified by the use of words such as "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "planned", "reflecting", "will", "anticipated", "estimated" "containing", "remaining", "to be", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of B2Gold to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, without limitation, risks relating to the need to satisfy the conditions expected to be set forth in the purchase agreement for the Notes; the need to satisfy regulatory and legal requirements with respect to the Offering; as well as those factors discussed under "Risk Factors" in B2Gold's Annual Information Form for the fiscal year ended December 31, 2023, a copy of which can be found on the Company's profile on the SEDAR+ website at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. Although B2Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
B2Gold's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. B2Gold's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
Investor Relations: Michael McDonald VP, Investor Relations & Corporate Development +1 604-681-8371 investor@b2gold.com Cherry DeGeer Director, Corporate Communications +1 604-681-8371 investor@b2gold.com
News Provided by GlobeNewswire via QuoteMedia
GMV Minerals is an attractive investment proposition with both gold and lithium projects that have compelling market economics, in well-established mining jurisdictions in the USA.
Junior exploration and development company GMV Minerals (TSXV:GMV,OTCQB:GMVMF) is advancing two major projects in Arizona and Nevada, both positioning the company to take full advantage of a continuing gold bull market and the exponentially rising demand for lithium - a mineral facilitating the global push for decarbonization and energy transition.
The Mexican Hat gold project, located in Arizona, is a high-quality, 5,000-acre gold asset with an inferred resource of 688,000 ounces of gold and compelling positive preliminary economic assessment, including a 10-year mine life, low CAPEX and very strong pre-tax NPV.
In Nevada, GMV has a three-year option agreement to earn a 100 percent interest in the Daisy Creek lithium project located in Lander County. Nevada currently hosts the only producing lithium mine in North America, and is home to Thacker Pass, the largest known lithium deposit in the US. GMV now controls or owns 165 lode claims covering 3,408 acres at Daisy Creek. The claims are close to operating gold mines and have access to existing power lines, water and paved highways.
A low-sulphidation epithermal gold deposit, GMV’s 100-percent-owned Mexican Hat contains an estimated gold resource of 688,000 ounces across 5,000 acres. As GMV's flagship project, the company aims to further expand this resource through drilling, ultimately moving from an inferred resource estimate to a measured and indicated estimate. The mine development itself will consist of two pits — a smaller southeast pit will be mined first, followed by a larger pit to the north.
Mexican Hat project in Arizona
Initial drilling at Dasiy Creek was completed in 2024 with preliminary results showing a thickening in the claystone horizons and increasing in the grade towards the south. The southern-most hole, DC24-1 intersected three distinct claystone horizons totaling 48.7 m of lithium enrichment starting 76.2 m downhole. GMV Minerals plans to conduct water sampling, plus an update of hydrologic, cultural, and environmental studies for permitting in 2025 with conversion and geotechnical drilling in the first and second quarters of the year.
View across the Basin showing historical trenching from the 1970s; material trenched is a claystone.
Located in Lander County, Nevada, Daisy Creek consists of 165 lode claims. Initially targeted for uranium by multiple oil and mining companies in the late 1970s and early 1980s, the project instead proved rich in lithium, displaying values of up to 2 percent in clay-altered volcanic tuffs, which geologists noted was likely hectorite-based.
Because there was very little demand for lithium at the time, Daisy Creek largely sat ignored and forgotten. It was not until several decades later that two of the geologists involved in the project's original drilling program noted multiple similarities between Daisy Creek and Lithium America's highly prospective Thacker Pass discovery. GMV plans to conduct a field program to confirm these observations.
GMV Minerals has completed its initial drill program on the Daisy Project comprised of five targets with 643 meters (2109 feet) of RC and tricone drilling. All holes intercepted various claystone horizons and claystone with felsic ash to lapilli tuffs with a distinctive trend towards more abundant claystone in the central portions of the caldera. A total of 221 samples have been submitted to ALS Global for analysis in Elko Nevada, including 10 Certified Reference Standards.
Ian Klassen has 30 years of experience in public company management, public relations, government affairs, entrepreneurship, media relationship strategies and project management. Klassen is the president of a North American mineral exploration company and sits on the board of directors of several private and public companies. Previous to his management activities within private and public companies, he held a variety of positions within federal Canadian politics, including as senior political advisor to the Minister of State (Transportation), and as chief of staff, Office of the Speaker of the Canadian House of Commons. Klassen graduated with an undergraduate honors degree from Western University in 1989. In 1992, he received the Commemorative Medal for the 125th Anniversary of the Confederation of Canada in recognition of his significant contribution to his community and country.
Dr. D.R. Webb graduated with a geological engineering degree from the University of Toronto, where he obtained awards for the highest marks in both third-year and fourth-year field camps. He obtained his M.Sc. and Ph.D. in geological sciences at Queen’s University and Western University, respectively, where his focus was on the structural and geochemical controls of gold mineralization in the Yellowknife Greenstone Belt. Webb is credited for discovering both the largest granitic-hosted gold deposit in the Northwest Territories and the largest gold deposit in the Yellowknife Greenstone Belt found in the past 30 years. He served as president and director of Tyhee Gold, where he and his team developed a high-grade gold deposit into production, becoming Mongolia’s first hard-rock gold mine. He later advanced his discoveries in Yellowknife into a multimillion-ounce resource, completed economic and engineering analysis and initiated both feasibility studies and permitting.Webb also developed the Mon Gold Mine into the most recently permitted gold mine in the Yellowknife Gold Belt, operating for seven years and then shutting down in 1997. Webb is a consultant to the industry, providing services throughout the world and sits on the board of Lake Victoria Mining Company and Metallis Resources, several private corporations, and is on the advisory council for the Centre of Training Excellence in Mining. Webb co-authored the qualifying report on Fortune Minerals’ Nico Deposit, recommending the acquisition of what is now the largest bismuth resource in the world.
Michelle Pillon is an accountant with several years of experience in the junior mining exploration sector. Since 1988, Pillon has been providing accounting and regulatory assistance to public and private companies.
Ronald Handford is a mining and technology entrepreneur and advisor with 18 years of CEO and senior executive experience. He has raised or participated in raising almost $80 million in private and public equity and has extensive investor, banking, industry and government contacts in North America, Europe and Asia.
CMC Metals Ltd. (TSX-V: CMB) (Frankfurt: ZM5P) ("CMC" or the "Company") is pleased to announce it has entered into a share purchase agreement with North Bay Resources Inc. (OTC-US: NBRI, "NBRI") to acquire an additional 14.5% of the Bishop Gold Mill (the " Mill "). This brings NBRI's total ownership to 70%. The remaining 30 % of the mill will be owned by 1436132 B.C. Ltd, a privately held corporation.
The 96 ton per day mill is located north of Bishop, California. NBRI has recently acquired and installed additional gold extraction equipment including a centrifuge in the gravity circuit ( see NBRI press release dated January 10, 2025 ). Based on a December 2024 metallurgical study ( see NBRI press release dated December 16, 2024 ) NBRI has estimated a 97% recovery of gold from their Fran Gold Project at the Bishop mill. NBRI has estimated material from the Fran Gold Project to have a head grade of 0.9 ounces of gold per ton. Material from the Fran Project has been recently transported to the Bishop mill for test processing.
The Company has entered into an agreement with NBRI and the current minority owner 1436132 BC Ltd., a private Canadian company, for NBRI to acquire an additional 14.5% of 0877887 BC Ltd. ("087"), a former subsidiary of the Company. The primary asset of 087 is the Bishop Gold Mill. Within this transaction, North Bay acquires a total interest of 70% of 087, in addition to prior payments and issuances to date, by assuming the amended cash payments and common share transfers to CMC as follows:
Cash Payments* :
(*all cash payments are in USD)
Share Payment :
Kevin Brewer, President and CEO of CMC notes "We are very pleased to have completed this transaction. This is generating further value from the divesting of the Bishop Mill that we expect will provide us with a significant return in the foreseeable future. We look forward to NBRI's continued success with this project."
As a result of this final arrangement between the parties, upon completion of the cash and share payments CMC will no longer hold a security interest in the Mill. After this acquisition, CMC will hold a total of 1,275,555,556 common shares of NBRI. NBRI remains the Operator of the Mill.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on the exploration of high-grade silver-lead-zinc critical mineral carbonate replacement and skarn deposits in the Rancheria Silver District in Northern British Columbia and Yukon. Their properties include their flagship Silverknife project which is immediately adjacent to Coeur Mining's Silvertip deposit, one of the highest-grade underground CRD-vein deposits in the world, the Silver Hart Deposit and Blue Heaven claims (Yukon) and the Amy claims (north-central British Columbia). Other projects include the Bridal Veil (Newfoundland) - an orogenic gold target, and Logjam (Yukon) a silver-gold target with porphyritic association.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."
News Provided by GlobeNewswire via QuoteMedia
CMC Metals Ltd. (TSX-V: CMB) (Frankfurt: ZM5P) ("CMC" or the "Company") is pleased to announce it has entered into a share purchase agreement with North Bay Resources Inc. (OTC-US: NBRI, "NBRI") to acquire an additional 14.5% of the Bishop Gold Mill (the " Mill "). This brings NBRI's total ownership to 70%. The remaining 30 % of the mill will be owned by 1436132 B.C. Ltd, a privately held corporation.
The 96 ton per day mill is located north of Bishop, California. NBRI has recently acquired and installed additional gold extraction equipment including a centrifuge in the gravity circuit ( see NBRI press release dated January 10, 2025 ). Based on a December 2024 metallurgical study ( see NBRI press release dated December 16, 2024 ) NBRI has estimated a 97% recovery of gold from their Fran Gold Project at the Bishop mill. NBRI has estimated material from the Fran Gold Project to have a head grade of 0.9 ounces of gold per ton. Material from the Fran Project has been recently transported to the Bishop mill for test processing.
The Company has entered into an agreement with NBRI and the current minority owner 1436132 BC Ltd., a private Canadian company, for NBRI to acquire an additional 14.5% of 0877887 BC Ltd. ("087"), a former subsidiary of the Company. The primary asset of 087 is the Bishop Gold Mill. Within this transaction, North Bay acquires a total interest of 70% of 087, in addition to prior payments and issuances to date, by assuming the amended cash payments and common share transfers to CMC as follows:
Cash Payments* :
(*all cash payments are in USD)
Share Payment :
Kevin Brewer, President and CEO of CMC notes "We are very pleased to have completed this transaction. This is generating further value from the divesting of the Bishop Mill that we expect will provide us with a significant return in the foreseeable future. We look forward to NBRI's continued success with this project."
As a result of this final arrangement between the parties, upon completion of the cash and share payments CMC will no longer hold a security interest in the Mill. After this acquisition, CMC will hold a total of 1,275,555,556 common shares of NBRI. NBRI remains the Operator of the Mill.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on the exploration of high-grade silver-lead-zinc critical mineral carbonate replacement and skarn deposits in the Rancheria Silver District in Northern British Columbia and Yukon. Their properties include their flagship Silverknife project which is immediately adjacent to Coeur Mining's Silvertip deposit, one of the highest-grade underground CRD-vein deposits in the world, the Silver Hart Deposit and Blue Heaven claims (Yukon) and the Amy claims (north-central British Columbia). Other projects include the Bridal Veil (Newfoundland) - an orogenic gold target, and Logjam (Yukon) a silver-gold target with porphyritic association.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."
News Provided by GlobeNewswire via QuoteMedia
HIGHLIGHTS
The results provide strong support for Saturn’s heap leach development strategy for Apollo Hill, reinforcing the continuity of mineralisation and the robustness of the deposit.
This announcement includes results from 50 drill-holes and 7,042m of assays (Appendix 1) from drilling completed at Apollo Hill last year. Drill-hole details are listed in Appendix 2. All holes reported intersections above the resource cut-off grade.
Figure 1 shows reported intersections on a simplified geological cross-section along with planned drill holes and the 2023 Mineral Resource Block model. Reported drill-hole locations and significant results are illustrated in Plan View in Figure 2.
Saturn’s Managing Director Ian Bamborough said: “These impressive results, as illustrated in Figure 1, show how the Apollo Hill deposit continues to develop. I am pleased with the deposit’s trajectory as we progress with drilling. With work nearing completion on the next interim resource upgrade at Apollo Hill, due next month, these results will feed into a subsequent resource upgrade targeted for Q2 2025, which will in turn underpin the Pre-Feasibility Study scheduled for completion later this year. We look forward to reporting additional rounds of results as we continue with our most comprehensive drill program at Apollo Hill to date.”
Figure 1 – Simplified geological cross-section showing recent results, mineralisation interpretation, Mineral Resource block model and planned RC holes; Section location shown in plan on Figure 2 (A-A1).
Figure 2 – Plan Overview, Apollo Hill RC Holes. Previously reported holes >1 Gram Metre (g/t Au x Metres) with all holes reported in this announcement illustrated. 2023 Apollo Hill Mineral Resource1 Pit Shell Outline seen at 350RL (Average Surface RL); Figure 1 cross-section illustrated as line A-A1 on this diagram.
Assays remain pending from 38 holes and 8,200m, with a further 25,000m of drilling scheduled for the first half of 2025.
Drilling operations have resumed on-site.
As noted above, Saturn is currently working on an interim upgrade of Apollo Hill’s 1.84Moz1 Mineral Resource (anticipated for release next month) which will include results from 34 holes and 9,402m of extensional focused drilling recently reported to the ASX on 28 October 2024.
These latest results will be utilised in a future resource estimate planned as part of Saturn’s bulk tonnage heap leach PFS, scheduled for completion later this year.
Click here for the full ASX Release
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