Bold Ventures Inc. (TSX.V:BOL) (the "Company" or "Bold") wishes one and all a very Merry Christmas and Holiday season! All the best to you and yours in 2024
We are pleased to provide the following projects overview with highlights.
Bold Ventures Inc. (TSX.V:BOL) (the "Company" or "Bold") is pleased to provide the following update.
Burchell Gold and Copper Project (Cu-Zn-Au-Ag)
The Company is pleased to report that it has received an interpretive study from SHA Geophysics Inc. covering two historical surveys completed over the western portion of the Burchell Gold-Copper property located in the Shebandowan Belt west of Thunder Bay, Ontario. The 2006 Geotech Ltd. Versatile Time-Domain Electromagnetic (VTEM) survey and a 1991 regional airborne Aerodat Mag-EM (Magnetic-Electromagnetic) survey both indicate the presence of significant conductors recommended for follow-up work. Conductors associated with the Hermia Lake copper showing and the area trending to the northeast, were identified for further study and inclusion with the geological data base. Having completed a review of the data quality and results of the 2006 survey, an extension of the VTEM survey to the eastern portion of the property, which remains underexplored, is being considered.
Evident from the survey is the presence of a structural trend that cuts across the northwest corner of the Burchell property. This structural zone hosts Goldshore Resources' Moss Lake Gold Deposit located immediately west of the claim group, as well as the past-producing North Coldstream Mine and the Osmani Gold Deposit located within 3 km of the Burchell Property's north claim boundary. This prominent northeast-trending structure strikes across the Burchell Property for a distance of 1.8 km. (see the northeast gold trend map). The Company continues to compile and interpret the historical work in the context of Bold's prospecting, sampling and mapping program carried out last Fall.
Koper Lake Project (Cr-Ni)
On February 24, 2023, KWG Resources Ltd. announced the completion of a magnetotelluric survey over portions of the Black Horse Chromite deposit located in the Ring of Fire area of the James Bay Lowlands region of northern Ontario. Preliminary results of the magnetotelluric survey indicated that the two target areas, one located 1 km northeast of the Black Horse Chromite Deposit and a second area located between 2 and 4 km northeast of the Black Horse Deposit have …. "clearly distinguished the ultramafic host rock, known as the Ring of Fire intrusion, from the enclosing country rock. This permits the results from the two target areas to be interpreted with confidence" (KWG press release dated February 24, 2023). Bold CEO David Graham commented that "KWG management continues to improve the understanding of the Koper Lake chromite mineralization to the benefit of the Black Horse size and potential."
The Black Horse Chromite Deposit is part of the Koper Lake Project where KWG 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 Ring of Fire Metals (formerly Noront Resources Inc.). Of additional note, the Koper Lake claims are located approximately 300 m from Ring of Fire Metals' 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.
The technical information found within this news release has been reviewed and approved by Gerald D. White, B.Sc., P.Geo., 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 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.
As a result of the current COVID-19 virus concerns, the Company's management and contractors are following public guidelines and taking recommended steps to protect the health and safety of all personnel while carrying out operations. As a result of the COVID-19 pandemic giving rise to local and national anti-virus measures, the scheduling of activities is subject to change. COVID-19 impacts may affect timing and availability of goods and services for the foreseeable future.
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.
"David B Graham"
David Graham
President and 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.
Click here to connect with Bold Ventures (TSX.V:BOL) to receive an Investor Presentation
Gold is a well-respected hedge against inflation and global economic uncertainty. Although it experienced some drastic price changes in 2023, the yellow metal is projected to maintain an all-time-high momentum in 2024.
There are several ways to invest in gold, including commodities and shares in mining companies. When investing in a mining company, it’s essential to consider the location of their projects. Stable jurisdiction with mining-friendly regulations is ideal. Fraser Institute’s 2022 Annual Survey of Mining Companies named Ontario the 12th most attractive jurisdiction for investment attractiveness and 13th for mineral potential. Additionally, Ontario is Canada’s largest producer of gold, PGEs and nickel. These data offer a level of confidence in Ontario-based mining operations.
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 Traxxin gold project, west of Thunder Bay, has hosted numerous high-grade gold intersections in drilling. The most recent of which intersected 3.6 grams per ton (g/t) gold over 12.3 meters. 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 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.
Additional Exploration Campaigns Planned: The company has received a new exploration permit and plans to follow up on its previous drill campaign as the gold bearing shear zone remains open in all directions.
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.
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.
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. (TSX.V:BOL) (the "Company" or "Bold") wishes one and all a very Merry Christmas and Holiday season! All the best to you and yours in 2024
We are pleased to provide the following projects overview with highlights.
Farwell Battery and Precious Metals Project (Cu, Zn, Pb, Au, Ag):
Between 2019 and 2023 Bold carried out data compilation, multiple prospecting and sampling programs, a ground geophysical test survey and a modern airborne VTEM electromagnetic (EM) and magnetic (Mag) survey. Of particular note is an interpretation and comparison of the 2022 property scale VTEM EM and Mag survey with the 1987 Ontario Geological Survey (OGS) Dighem regional airborne EM and Mag survey. The results indicate that the location of the historical drilling in the Farwell Sulphide Zone (FSZ) does not compare well with the location of the modern 2022 survey anomalies within the same vicinity. The historical drill intersections at the Bibis Copper Prospect (1.5% Cu over 5.2 m) and the Burex Copper Occurrence (massive sulphides over 10.7 m); (Bennett and Thurston 1977) did not appear to adequately test the conductor locations identified in the 2022 survey. The location of the 2022 VTEM anomalies provide a more accurate basis for drill targets to test and explain the conductors that may represent copper bearing massive sulphides. Six diamond drill holes are recommended to test the various conductive anomalies. This report is available on the Bold website here.
An interpretation of the Farwell property geology and geophysics in context with the regional scale geophysics and geology indicates the presence of a Mag low anomaly, indicative of a NW- SE oriented fault system crossing the Farwell claim group. The structure appears to extend to the southeast and intersects with Wesdome Gold Mines Mishi open pit gold deposit located approximately 6 km to the southeast. Wesdome produced gold from the Mishi pit as recently as 2021. The Mag low may represent a structural conduit for the remobilization and emplacement of gold mineralization. A high resolution airborne Mag survey is planned to provide enhanced detail of the interpreted structure. The survey will have the added benefit of better locating and orienting the battery metal drill targets located proximal to the Mag low and in the vicinity of the Farwell Sulphide Zone (FSZ). A planned drill program will follow the high-resolution Mag survey.
The Traxxin Gold Project (Au):
In 2020 and 2021 Bold carried out multiple prospecting, sampling, stripping and channel sampling programs on the Traxxin Gold Property. Stripping at the north end of the Main Zone indicates that additional sub-parallel shear zones may be present.
Stripping, mapping, sampling and drilling at the south end of the Main Zone indicates lower grade gold mineralization between it and the Teardrop Zone (2.65 g/t Au over 1 m and .21 g/t over 42 m) (Sims 2019) within a more structurally complex geological setting. Additional geological and geophysical work in the southern portion of the claim group is recommended.
Bold completed four diamond drill holes in 2021 to test the Main Zone gold system at depth. The results confirmed the presence of gold mineralization in all four drill holes. Hole BV-21-04 located at the north end of the Main Zone, intersected 3.6 g/t Au over 12.3 m (including 6.13 g/t Au over 4.9 m) at a vertical depth of approximately 150 m in the deepest drill hole to date. A geophysical survey is recommended to accurately trace the gold bearing structure to the north, where it remains open, and to determine if any new sub-parallel shear zones exist. It is anticipated this would take place just before the next drill program.
The Burchell Battery and Precious Metals Project (Cu, Zn, Ni, Au, Ag, Mo):
In 2006 a VTEM airborne electromagnetic (EM) and magnetic (Mag) survey was carried out over the western portion of the Burchell claim group. In 2017 a NI 43-101 property report was completed (NI 43-101 Technical Report on the Burchell Lake Property, Northwestern Ontario Thunder Bay Mining District NTS Sheet 52B/10SE, Prepared by Ike A. Osmani, M.Sc., P.Geo.). A recent interpretation and comparison of the 2006 VTEM survey with an historical Aerodat regional airborne EM and Mag survey (OGS 1991), has indicated that a VTEM survey covering the east side of the claim group is recommended. This survey will provide the most up to date geophysical data upon which to base subsequent exploration work.
A prospecting and sampling program was carried out in September of this year (2023). A bedrock grab sample collected within a magnetic-high area along the main access road in the south-central portion of the property, returned 0.11% Cu and 0.15% Ni. A number of samples are pending receipt. Several locations were recommended for potential stripping and sampling. This work also provided valuable knowledge concerning the property geology.
Koper Lake Project in the Ring of Fire
In September of 2022 Bold's JV partner at the Koper Lake Project, Canada Chrome Corporation, acquired a 50% interest in the Koper Lake claim group from Fancamp Exploration for $34.5M via a secured convertible promissory note in the principal amount of C$34.5 million (for complete terms of the transaction see KWG press release dated September 1, 2022).
Bold has vested a 10% carried interest (to production) in the Black Horse Chromite NI 43-101 Inferred resource of 85.9 M tonnes of 34.5% Cr2O3 at a cutoff grade of 20% (KWG Website 2023). Bold also has a 40% working interest in all other metals found within the claims. Bold also has a Right of First Refusal on a 1% Net Smelter Return Royalty covering all metals produced from the property
The Ring of Fire access and infrastructure development continues within the environmental permitting process. The two closest First Nations are acting as proponents for the all-weather access and supply roads. Information about Bold's Ring of Fire projects, the Ring of Fire infrastructure development and various critical mineral articles can be accessed on the Bold Critical and Battery Minerals page.
The technical and scientific disclosures in this news release have been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) under National Instrument 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).
About Bold Ventures Inc.
The Company explores for Battery, Critical and Precious Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa areas of northwestern 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.
"David B Graham"
David Graham
President and 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.
SOURCE:Bold Ventures Inc.
News Provided by ACCESSWIRE via QuoteMedia
TORONTO, ON / ACCESSWIRE / November 16, 2023 /Bold Ventures Inc. (BOL:TSX.V) (the "Company" or "Bold") is pleased to announce that its exploration crew has recently completed prospecting and sampling work at the Burchell Copper and Gold Project. The basis for this work was established by a review of the historical work found within and around the Burchell claim group. The program was carried out through the month of September.
The 2006 Geotech Ltd. Versatile Time-Domain Electromagnetic (VTEM) survey and the 1991 Ontario Geological Survey regional airborne Aerodat Mag-EM (Magnetic-Electromagnetic) survey carried out over the Burchell property both indicate the presence of significant conductors recommended for follow-up work. The VTEM survey which only covers the west side of the property, contains greater detail with a clearer signal, greater depth penetration and closer line spacing than the "regional" survey with the Aerodat system. The Aerodat survey covers the claims at wider line spacing and consequently, provides less detailed information. (see Bold press release dated March 6, 2023) here.
During this program 103 grab samples were collected, with most assays still pending. However, the results from 8 grab samples have been received. They ranged in values from 1.9 ppm Copper (Cu) up to 1130 ppm Cu (0.11% Cu) and 2.1 ppm Nickel (Ni) up to 1480 ppm Ni (0.15% Ni). This may indicate the presence of a magmatic Ni-Cu-PGM mineralized system in the vicinity (PGM analysis is pending on these samples). Sampling of sheared felsic volcanic rocks along one of the VTEM conductor axis in the north-central portion of the property, returned 2.38 g/t Gold (Au).
The area extending to the northeast, along trend from the Hermia Lake copper showing and locations within the central and eastern part of the claim group were sampled. This phase of work has confirmed that additional electromagnetic and magnetic surveys are recommended to complete the geophysical survey coverage of the claim group. The east side of the property has seen very little exploration work. To understand what this means for the mineral potential of the project, please visit the Burchell Battery and Precious Metals Project.
Bold Ventures AGM
At Bold's Annual General Meeting held on October 26, 2023, shareholders overwhelmingly approved all matters in the Notice of Meeting (99.78 % support) including the adoption of the 2023 Incentive Stock Option Plan (the "2023 SOP"). The 2023 SOP was appended to the Management Information Circular (the "Information Circular") dated September 6, 2023 as Schedule "D", a copy of which was filed on sedarplus.com on September 26, 2023. All changes to the 2015 Stock Option Plan made pursuant to the 2023 SOP are set out in a black-lined version of the 2023 SOP appended as Schedule "E" to the Information Circular. The Company wishes to bring to the attention of shareholders the following amendments. The 2023 SOP requires that the Company obtain disinterested shareholder approval of any decrease in the exercise price of or extensions to any stock options granted to individuals that are insiders at the time of the proposed amendment. In addition, the 2023 SOP clarifies the fact that any option that has an expiry date that occurs within ten (10) Business Days from the end of a Blackout Period shall not be extended and shall expire if unexercised by the original expiry date.
In other news, The Northern Ontario Business Magazine recently published an article of interest concerning the Ring of Fire development. You may access this article here.
The technical information in this news release was reviewed and approved by Gerald D. White, B.Sc., P. Geo., 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).
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.
"David B Graham"
David Graham
President and 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.
SOURCE: Bold Ventures Inc.
News Provided by ACCESSWIRE via QuoteMedia
TORONTO, ON / ACCESSWIRE / October 3, 2023 /Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") announces that it has received a new exploration permit to allow for future work at the Traxxin Gold Project. Following on to the original permit that was issued in September 2020, this permit expires in September of 2026 and anticipates line cutting, geophysical surveys, sampling and diamond drilling.
About the Traxxin Gold Project
The Company completed the first phase of drilling at the Traxxin claim group in 2021. That program produced what management believes is the most important drill intersection to date from over thirty drill holes. Hole BV-21-04 encountered 3.6 g/t Au over 12.3 m below the previous drilling at the Main Zone. A 10 km long geophysical survey to track the Main Zone structure to the north is planned for early 2024. Based on these results, a phase 2 drilling program will be developed to extend the Main Zone to the northeast and at depth.
The Traxxin claim group is located 130 km west of Thunder Bay, Ontario. 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.
Burchell Prospecting
Bold's field crew has completed its work at the Burchell Battery and Precious Metals Project that was carried out during the month of September. This phase of work followed up on the interpretation of two historical airborne surveys carried out by Scott Hogg and Associates Geophysical Consultants Ltd. (SHAG). The field crew prospected a number of the locations of interest identified in the SHAG report (see Bold press release dated March 6, 2023) and completed the first phase coverage of the overall claim group.
Shares for Service
Further to its press release dated July 6, 2023, Bold has agreed to issue 184,615 common shares of the Company at a price of $0.065 to Dig Media Inc., dba Investing News Network ("INN") in settlement of advertising services provided by INN to Bold for the period July 7, 2023 to October 1, 2023, subject to regulatory approval. The securities to be issued will be subject to a hold period of four months and one day from the date of issuance.
About INN and the Dig Media Inc. Contract
Based in Vancouver, Canada, INN has offices in Toronto, New York and San Francisco. INN has been dedicated to providing independent news and education to investors since 2007. INN will continue to expand Bold's name recognition and corporate message via digital and social media platforms resulting in greater market awareness of Bold's high potential projects and management's experience and successful track record of discoveries.
Farwell and Burchell Option Agreements
Further to its Press Release dated September 13, 2023, the Company is making additional disclosure regarding the amendments 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 and the Burchell Property option agreement dated April 20, 2022 (the "Burchell Option Agreement") between three arms-length individuals as Vendors and Bold as the Optionee of the property.
The Farwell Option Agreement
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. The Farwell First Amendment extended the date the cash option payment of $50,000 due on March 12, 2023, was payable to September 30, 2023. It also extended the date an aggregate of $480,000 of work expenditures were due to have been made from March 12, 2023, to September 30, 2023.
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 and Farwell First Amendment. The Farwell Second Amendment amends the prior two agreements as follows:
The Vendors will retain a 3% net smelter royalty in the Farwell Property. Bold will have the right to buy back a 1.5% net smelter royalty in consideration for the payment of $2 million. The Company also has the right of first refusal to purchase the remaining 1.5% NSR.
All shares to be issued will be subject to a four month and one day hold period from the date of issuance.
For a review of this project, visit the Farwell Battery and Precious Metals Project.
The Burchell Option Agreement
On July 3, 2023, the Company and the Vendors entered into a First Amending Agreement (the "Burchell First Amendment") to amend the Option Agreement. The Burchell First Amendment extended the date the cash option payment of $60,000 due on April 20, 2023, was payable to September 30, 2023. It also extended the date an aggregate of $200,000 of work expenditures were due to have been made from April 20, 2023, to September 30, 2023.
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. The Burchell Second Amendment amends the prior two agreements as follows:
The Vendors will retain a 3% Net Smelter Royalty (3% NSR) in the property. Bold has the right to buy back one-half of the 3.0% NSR for $2,000,000 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.
The press release issued September 13, 2023, erroneously refers to the issuance of an additional 300,000 shares rather than 350,000 shares.
All shares to be issued will be subject to a four month and one day hold period from the date of issuance.
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).
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.
"David B Graham"
David Graham
President and 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.
SOURCE:Bold Ventures Inc.
News Provided by ACCESSWIRE via QuoteMedia
Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") is pleased to announce that it has mobilized a prospecting crew to the Burchell Battery and Precious Metals Project in the Shebandowan Belt west of Thunder Bay, Ontario. The goal for this phase of work is to prospect and sample various locations that have not been accessed by Bold's exploration team to date. In addition, the crew is prospecting and sampling known airborne VTEM and Aerodat anomaly locations that have been interpreted from historical surveys (see Bold press release dated March 6, 2023). The 2006 Geotech Ltd. Versatile Time-Domain Electromagnetic (VTEM) survey and the 1991 Ontario Geological Survey regional airborne Aerodat Mag-EM (Magnetic-Electromagnetic) survey both indicate the presence of significant conductors recommended for follow-up work. Conductors associated with the Hermia Lake copper showing along the western portion of the property and the area trending to the northeast were identified. For a review of this project, visit the Burchell Battery and Precious Metals Project
The Company has reached an agreement with the Optionors of the Burchell claim group to extend the first anniversary cash payment of $60,000, the work expenditure of $200,000 and the share payment of 300,000 common shares of Bold to May 1, 2024. In exchange for this accommodation Bold will issue 300,000 common shares to the vendors, subject to regulatory approval.
Traxxin Gold Project
The Company has completed the first phase of drilling at the Traxxin claim group. The program produced what management believes is the most important drill intersection to date from over thirty drill holes. Hole BV-21-04 encountered 3.6 g/t Au over 12.3 m below the previous drilling at the Main Zone. A 10 km geophysical survey to track the Main Zone structure to the north is planned for early 2024. Based on these results a phase 2 drilling program will be developed to extend the Main Zone to the northeast and at depth.
Bold has satisfied the share payments and exploration expenditures called for in the Traxxin Gold Project option agreement (see Bold press release dated August 24, 2020. In order to complete the acquisition of a 100% interest in the claims, a final cash payment of $60,000 has been reduced to $40,000 cash and the payment date is extended to August 23, 2024. In return for this extension and reduction of the cash payment due, Bold will make a one-time payment of 700,000 common shares of Bold to the vendor, subject to regulatory approval.
Farwell Copper-Gold Project
Work on the Farwell claim group has identified a series of electromagnetic and magnetic anomalies that are near drill ready. A closely spaced, high resolution airborne magnetic survey will complete the work necessary to finalize the drill targeting. The initial phase of drilling will focus on the Farwell Sulphide Zone (see Bold press release dated April 18, 2023).
The Company is pleased to report that it has come to terms with the vendors of the Farwell claims to extend the third anniversary date calling for a cash payment of $50,000, work expenditures of $480,000 and a share payment of 400,000 common shares of Bold to May 1, 2024. In exchange for this amendment the Company will issue 400,000 common shares of Bold, subject to regulatory approval.
All shares to be issued will be subject to a four month and one day hold period from the date of issuance.
Koper Lake Project
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.
There has been recent news from the Ring of Fire.
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 Minerals page.
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 technical and scientific disclosures in this news release have been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) under National Instrument 43-101.
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.
"David B Graham"
David Graham
President and 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.
SOURCE: Bold Ventures Inc.
News Provided by ACCESSWIRE via QuoteMedia
Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") announces the closing of its non-brokered private placement (see Bold press releases dated June 1, 2023 and July 6, 2023). The Company placed 513,000 FT Units and 383,333 WC Units for total proceeds of $64,339.98. The proceeds from the sale of the WC Units will be used for working capital and administration. The proceeds from the sale of the FT Units will be used to explore Bold's properties
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.
"David B Graham"
David Graham
President and 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.
SOURCE: Bold Ventures Inc.
News Provided by ACCESSWIRE via QuoteMedia
Five years after the transformational Merger with Randgold Resources, Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has been restructured and repurposed as a modern mining business with a constantly replenished, global asset base of peerless quality, managed by a team with an unparalleled record of recognizing and realizing opportunities, says chairman John Thornton in the company's 2024 Information Circular published today and available now at www.barrick.comagm and also filed on SEDAR+ ( www.sedarplus.ca ) and EDGAR ( www.sec.gov ).
"This Barrick is guided by a long-term, future-facing strategy, finely attuned to the demands and expectations of a rapidly changing world. Its aim is not only to secure the company's sustainable profitability but also to make sustainability, in every sense, the core of its activities. Barrick's pioneering partnership philosophy, a key component of its commitment to sustainability, has already transformed the once-derelict Tanzanian mines into a complex with Tier One 1 potential; reconstituted the Reko Diq project in Pakistan and is now developing it into one of the world's largest copper-gold producers; and after three years of negotiation, achieved an agreement for the re-opening of the Porgera gold mine in Papua New Guinea, where mining and processing have restarted and will be ramping up over the next two quarters," he says.
"It is clear to me that we have achieved all the initial objectives we set for ourselves. The renewed emphasis on exploration has placed Barrick in the unique position of more than replenishing the reserves depleted by mining year after year. Major organic growth projects, such as Reko Diq, the current extension of Pueblo Viejo's Tier One mine life by more than 20 years 2 , and the transformation of Lumwana into one of the world's major copper mines, will secure Barrick's production profile well into the future. Expanding the copper portfolio was one of Barrick's key strategic aims, and when the new Lumwana and Reko Diq are commissioned in 2028, Barrick will become a major-league producer. In the meantime, we continue to pursue opportunities for growing our copper portfolio."
Thornton says Barrick's balance sheet, once burdened by heavy debt, is now one of the industry's most robust and its strong operational cash flows ensure that it has the capacity to fund existing and new organic growth projects, as well as to take advantage of any fresh opportunities that meet the company's stringent investment criteria.
"Barrick's footprint is being expanded and currently comprises mines, projects and exploration programs in 18 countries across four continents, covering the main prospective regions for gold and copper," he says.
Also in the Information Circular, lead director Brett Harvey says Barrick's Board prioritizes renewal and diversity in its own ranks in order to enhance its already high level of global business experience and to make its membership more fully representative of the societies in which the company operates. "Since the Merger, seven new members have been appointed and women now account for 40% of our directors standing for election, while 40% identify as racially or ethnically diverse," Harvey says.
Barrick is pleased to host a virtual meeting format for this year's Annual Meeting that shareholders may attend virtually by way of a live webcast regardless of their geographic location.
The meeting will be held on Tuesday, April 30, 2024 at 10:00 a.m. (Toronto time) at https://web.lumiagm.com/406457272 . Registered shareholders, non-registered (or beneficial) shareholders and their duly appointed proxyholders will be able to participate, ask questions, and vote in "real time" through the online portal.
Enquiries
President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386
Senior EVP and CFO
Graham Shuttleworth
+1 647 262 2095
+44 779 771 1338
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Endnote 1
A Tier One Gold Asset is an asset with a $1,300/oz reserve with potential for 5 million ounces to support a minimum 10-year life, annual production of at least 500,000 ounces of gold and with all-in sustaining costs per ounce in the lower half of the industry cost curve. Tier One assets must be located in a world class geological district with potential for organic reserve growth and long-term geologically driven value addition.
Endnote 2
Refer to the Technical Report on the Pueblo Viejo Mine, Dominican Republic, dated March 17, 2023 and filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov on March 17, 2023.
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "build", "strategy", "commitment", "develop", "replenish", "secure", "transform", "continue", "expand", "grow", ""expand", "extension", "invest", "will" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick's partnership philosophy and strategy to invest in sustainability profitable growth; the replenishing of reserves through exploration and organic growth projects, such as the reconstituted Reko Diq project, the expansion of the Lumwana mine, and the mine life extension project at Pueblo Viejo; Barrick's copper strategy and the timeline for first production from Reko Diq and the expanded Lumwana mine, Barrick's financial strength and capacity to fund existing and new organic growth projects; and the anticipated benefits of Barrick's sustainability strategy and focus on increasing workforce and Board diversity.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; risks related to the possibility that future exploration results will not be consistent with the Company's expectations, that quantities or grades of reserves will be diminished, and that resources may not be converted to reserves; risks associated with the fact that certain of the initiatives described in this press release are still in the early stages and may not materialize; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Canada, the United States or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in certain of the jurisdictions in which Barrick operates; non-renewal of key licenses by governmental authorities; failure to comply with environmental and health and safety laws and regulations; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; damage to the Company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company's handling of environmental matters or dealings with community groups, whether true or not; litigation and legal and administrative proceedings; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly controlled assets; risks related to disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with artisanal and illegal mining; risks associated with Barrick's infrastructure, information technology systems and the implementation of Barrick's technological initiatives; the impact of inflation, including global inflationary pressures driven by supply chain disruptions and global energy cost increases following the invasion of Ukraine by Russia and conflicts in the Middle East; the ability of management to implement its business strategy and enhanced political risk in certain jurisdictions; uncertainty whether some or all of Barrick's targeted investments and projects will meet the Company's capital allocation objectives and internal hurdle rate; employee relations including loss of key employees; availability and increased costs associated with mining inputs and labor; and risks associated with diseases, epidemics and pandemics, such as the global Covid-19 pandemic.
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
We disclaim 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 required by applicable law.
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Description
The securities of Many Peaks Minerals Ltd (‘MPK’) will be placed in trading halt at the request of MPK, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 3 April 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from Many Peaks Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Private investor Don Hansen has honed his resource sector investment approach for more than 20 years, and he shared his latest research in a conversation with the Investing News Network.
He discussed the US dollar's rise and fall as the world's reserve currency, as well as how China is shifting away from the dollar and toward gold. Hansen also went over data on the inverse relationship between the gold price and the S&P 500 (INDEXSP:.INX), explaining how decades-long patterns show where both are heading.
"The exciting part to me is when we look at the previous data you can see that the stock market phase is about to end. It's at a very high level and it's at the end of its period," he explained during the interview.
Hansen also mentioned the Buffett Indicator, a measurement of the size of the US stock market against the size of the economy. It's produced by dividing the aggregate market cap of all US stocks by the latest quarterly GDP number.
"In the long-run average of 70 years, that number is about 75 percent," he said. "In 2000, before the dot-com crash, that number was 145 percent ... Guess what it is now? It's 180 percent. So we are due."
Hansen encouraged investors to add gold to their portfolios, and has spoken previously about how to build a portfolio of gold and silver stocks. To watch those interviews, click the links below:
You can also click the the timestamps below to view specific parts of the interview above:
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Goldman Sachs (NYSE:GS) is maintaining its bullish stance on commodities as they continue to enjoy strong cyclical and structural support, and as the US and Europe move closer to cutting interest rates.
The American investment bank said it sees raw materials potentially returning 15 percent in 2024.
“We find that US rate cuts in non-recessionary environments lead to higher commodity prices, with the biggest boost to metals (copper and gold in particular), followed by crude oil,” Bloomberg quotes analysts Samantha Dart and Daan Struyven as saying in a note this past Sunday (March 24). “Importantly, the positive impact on prices tends to increase with time, as the growth impulse from looser financial conditions filters through.”
Copper and gold have already rallied during the first quarter of the year, with the former moving past US$9,000 per metric ton and the latter breaching the US$2,200 per ounce mark to reach an all-time high.
Goldman is calling for copper to break US$10,000 by the year's end and for gold to hit US$2,300.
Other commodities, such as aluminum and oil products, are also set to make continuous climbs.
Aluminum is expected to reach US$2,600 per metric ton by 2024's end, while Brent crude is likely to stay "well supported" between US$70 and US$90 per barrel. The bank also underscored the role of commodities as a geopolitical hedge.
While Goldman is positive on the sectors mentioned, the same cannot be said for battery metals, where its outlook is more bearish. "Within the industrial metals, the segment with the most bearish fundamentals remains battery materials ... we believe it is too early to call a decisive end to these respective bear markets,” the bank said.
Battery metals — which include lithium, nickel, and cobalt — have seen increases in demand alongside production growth for wind turbines, solar panels and electric vehicles (EVs). However, prices for these metals have taken a tumble in the last 18 months due to factors including oversupply and lower sales volumes from EV manufacturers.
Goldman anticipates 2024 price declines of 9 percent, 13 percent and 27 percent decline for cobalt, nickel and lithium carbonate, respectively. With that in mind, it encourages taking a selective approach in the commodities sector.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
If you're interested in gold stocks, it's worth taking a look at the top ASX gold stocks that pay dividends.
A dividend is a sum of money that is paid regularly by a company to a class of its shareholders out of its earnings. Dividends are often issued as cash payments, but can also be issued as stock or other property.
Read on for a deeper look at gold dividend stocks and a breakdown of the top five dividend-paying ASX gold stocks.
A dividend is essentially a reward that is paid to shareholders for their investment in a company’s equity. Dividends generally comes from a company’s net profits — while the majority of a company’s net profits stay within the company as retained earnings, an outstanding portion can be divided up and distributed to shareholders.
Dividends are generally a sign that a company is flourishing, but there are times when a firm may still make dividend payments even when it's not achieving suitable profits. This tends to happen when a company wants to maintain confidence by keeping up with its established track record of regular dividend payments.
In the past, investors didn’t always look to gold stocks as a way to obtain a dividend. However, a rising number of gold miners now pay — and often raise — dividends. If investors select the right ones, they can set themselves up to profit handsomely from both a steady stream of dividend income and the strong capital gains available in resource investing.
A dividend is especially attractive in the sometimes volatile gold sector because it gives investors a degree of security — put simply, if a company pays a dividend, it generally feels that it has the cash to do so, and will have the ongoing profits it needs to keep those payments coming. On the whole, dividend-paying companies tend to outperform the market when it’s rising, and perhaps more importantly, decline less than average in a falling market.
When it comes to ASX-listed gold stocks, dividends also have tax advantages — thanks to Australia's dividend tax credit, dividends from eligible Australian corporations have an advantage over interest income.
So how can investors pick the right dividend-paying gold stocks? A key indicator to consider is dividend yield, which you can figure out when you take the miner’s total yearly dividend payments and divide them by its share price. This allows investors to glean how much they will get back in dividends based on each dollar they have invested.
That said, it's important to keep in mind that simply picking stocks with high dividend yields may not be entirely beneficial. This is due to the fact that a company’s dividend yield can be high because its share price has dropped, which is an obvious indicator of serious risk — not only to the dividend, but to the investment as a whole.
To get a true measure of the stability of a company’s dividend, you have to look deeper. Here are three other factors to consider before putting money into a gold dividend stock:
Below are five of the top ASX-listed gold dividend stocks based on dividend yield. Data for this article was gathered using TradingView’s stock screener on March 20, 2024, and companies had market caps of over AU$50 million at the time.
Dividend yield: 7.3 percent; current share price: AU$1.37; market cap: AU$77.92 million
Rand Mining explores for and produces gold at properties in Western Australia. Its primary focus is the East Kundana joint venture, which is comprised of two producing underground mines, Raleigh and Rubicon/Hornet/Pegasus.
The company holds a 12.25 percent interest in the asset, along with Northern Star Resources (ASX:NST,OTC Pink:NESRF) subsidiary Gilt Edge Mining (51 percent) and Tribune Resources (ASX:TBR) (36.75 percent).
Rand Mining pays an annual dividend of AU$0.10, with the most recent dividend payment made on November 30, 2023.
Dividend yield: 4 percent; current share price: AU$0.024; market cap: AU$93.92 million
Beacon Minerals is a gold mining and exploration company operating in the Eastern Goldfields of Western Australia. Its Jaurdi gold project hosts the Lost Dog open pit and the Jaurdi processing plant. Meanwhile, its MacPhersons project holds two resources, MacPhersons Reward and Tycho, along with several small historic underground mines and exploration prospects. As part of its goal to expand Jaurdi's mine life, the company recently inked a binding deal to acquire a 100 percent interest in the Mount Dimer tenements from Aurumin (ASX:AUN) for AU$3 million.
Beacon’s gold production for its 2023 fiscal year came in at 29,110 ounces. The company's production guidance for its 2024 fiscal year is in the range of 24,000 to 27,000 ounces of the yellow metal.
Beacon's last dividend payment of AU$0.001 per share was paid on December 8, 2023.
Dividend yield: 2.2 percent; current share price: AU$13.40; market cap: AU$15.9 billion
Northern Star Resources has world-class projects in both Australia and North America.
Since the acquisition of the high-grade, low-cost Paulsens gold mine in 2010, the miner has continued to build a portfolio of high-quality, high-margin mining operations with the aim of delivering maximum returns to its shareholders.
The company also owns the Jundee gold mine, which it purchased from Newmont (TSX:NGT,NYSE:NEM) in 2014 for AU$82.5 million. The project is well known due to the fact that it solely uses underground mining and not the often utilised open-pit mining. As part of its growth strategy, Northern Star is targeting 2 million ounces of production per year by 2026.
Northern Star’s dividend has grown at a yearly rate of around 15 percent over the past five years. The company's next biannual dividend payout of AU$0.15 will be paid out on March 28, 2024.
Dividend yield: 1.79 percent; current share price: AU$2; market cap: AU$2.86 billion
Perseus Mining has three operating gold mines in West Africa: Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire. Its acquisition of Orca Gold in 2022 gave it control of 70 percent of the Meyas Sand gold project in Sudan.
Perseus' annual gold production for 2023 came to 528,486 ounces at an all-in site cost of US$984 per ounce, and the company reported a revenue increase of 22 percent compared to the previous year. Its robust financial performance prompted a bonus dividend payout for investors in 2023.
Perseus' next dividend payment for 2024 will come to AU$0.0125 per share on April 5.
Dividend yield: 1.42 percent; current share price: AU$1.505; market cap: AU$1.68 billion
Gold Road Resources is a mid-tier Australian gold producer and explorer with projects across Western Australia, South Australia and Queensland. The company holds a 50 percent interest in the Gruyere joint venture project in Western Australia with one of the world’s top gold-producing companies, Gold Fields (NYSE:GFI). One of Australia’s top gold mines, Gruyere is a high-grade, low-cost, open-pit gold mine with a life of more than 10 years.
The company’s next dividend payment will come to AU$0.01 per share on April 2, 2024.
This is an updated version of an article first published by the Investing News Network in 2019.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.
Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) is pleased to announce the receipt of confirmation of the admissibility of its Environmental Impact Assessment (“EIA”) for the Horne 5 Project located in Rouyn-Noranda (the “Admissibility”) from the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks (“MEFCCWP”).
Since the initial EIA filing in 2018, Falco has completed extensive field work and studies, in addition to providing the documentation in order to respond to questions and requests for information raised by the MEFCCWP. Driven by ESG principles, the EIA was conducted by a multidisciplinary team comprised of Falco’s employees, experts and partners, and highlights the Horne 5 Project’s benefits and impacts on its physical, biological and human environments. The EIA includes various measures to avoid, mitigate or compensate for these impacts, and to enhance the project’s overall benefits, in a strong corporate governance environment. The EIA and all related documentation are publicly available on the Environmental Assessment Register of the MEFCCWP.
Luc Lessard, President and Chief Executive Officer of Falco noted: “In addition to the recent conclusion of the Operating License and Indemnity Agreement with Glencore Canada Corporation on January 23, 2024, the Horne 5 Project’s EIA Admissibility from the MEFCCWP constitutes another significant milestone in advancing closer to the development and realization of the Horne 5 Project. Falco’s team has been working extremely hard on the environmental permitting process, and the EIA Admissibility provides the path forward for the advancement of the Project. Although important steps remain, we strongly believe in the Horne 5 Project as a green and world-class polymetallic project that will benefit the surrounding communities. We would like to thank everyone involved at the MEFCCWP for their work and continued assistance throughout this process. Falco would also like to thank the communities of Rouyn-Noranda for their engaged and active participation and continuous support.”
Public Hearing Process
The EIA Admissibility allows Falco to progress towards the public hearing process to be hosted by the Bureau d’audiences publiques sur l’environnement (“BAPE”) following the issuance by the MEFCCWP of a BAPE mandate to conduct such public hearing process, which notably involves a 45-day public information period, beginning April 24, 2024, in addition to a 4-month public hearing process. Falco’s stakeholders will be invited to this public information period which will allow them to meet Falco’s team, ask questions and obtain information on the Horne 5 Project. For more information, please refer to the following MEFCCWP link: https://www.ree.environnement.gouv.qc.ca/index.asp
Since 2019, Falco has been interacting and working with its host milieu and stakeholders, including its Consultation Committee. The comments, questions and ideas collected during these discussions have helped Falco gain a better understanding of the challenges and concerns of our stakeholders in order to develop a proposal for the Horne 5 Project that fosters the harmonious cohabitation of all stakeholders in the region with this mining project of a new generation.
Hélène Cartier, Vice President, Environment, Sustainable Development and Community Relations added: “We are extremely grateful to our stakeholders and host communities, who participate in our consultation activities and initiatives, allowing us to develop a great project for the Rouyn-Noranda region. We remain committed to continuing to develop a collaborative project and making it a source of pride for our communities. Our team is ready and proud to initiate the BAPE process.”
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal asset is the Horne 5 Project located under the former Horne mine that was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco’s largest shareholder owning a 17.3% interest in the Corporation.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514 261-3336
info@falcores.com
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 press release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws, in particular Falco’s ability to complete the BAPE, to obtain receipt of permits and approvals required to develop the Horne 5 Project and the ability of Falco to efficiently develop and operate the Horne 5 Project based on the terms of the Operating License and Indemnity Agreement concluded with Glencore Canada Corporation (“OLIA”). These statements are based on information currently available to the Corporation and the Corporation provides no assurance that actual results will meet management’s expectations. The occurrence of such events or the realization of such statements is subject to a number of risk factors, including, without limitation, the ability of Falco to provide the financial assurance guarantees required by the OLIA and the exercise by Glencore Canada of rights under the OLIA which could affect the development and operation of the Horne 5 Project, together with the other risk factors identified in Falco’s Annual Information Form and other continuous disclosure documents available at www.sedarplus.com. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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