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Blackstone Minerals is well-positioned to leverage a projected nickel supply deficit as it strives to become a vertically integrated producer of low-cost, low-carbon, battery-grade nickel. Key to this is Blackstone’s Ta Khoa project in Vietnam, an emerging hub for the electric vehicle market.
Overview
As the world moves closer to a sustainable net-zero future, the need for battery metals continues to mount and nickel may soon be among the metals to see a supply crunch. Though its roots are in the stainless steel sector, it's also a critical component of lithium-ion batteries.
Given that many nations are aiming to replace combustion vehicles with electric cars by 2030, the metal is already experiencing a massive spike in demand. Benchmark Minerals expects the need for battery-grade nickel will increase about 950 percent by 2040.
It's imperative to ramp up global nickel production but the resource sector, for its part, must do so with a much-reduced carbon footprint to influence the sustainability of the entire value chain. Blackstone Minerals (ASX:BSX,OTC:BLSTF,FRA:B9S) recognizes this. As a vertically integrated producer of low-cost, low-carbon nickel, the company aims to become a leading source of low CO2 emission nickel sulphide. Its flagship Ta Khoa project in Vietnam is representative of that goal.
Blackstone Minerals business structure schematic
With over 20 active mines and a burgeoning technology sector, Vietnam is on the road to becoming a hub of electric vehicle production and innovation, with low labor costs and regulated electricity pricing further driving its growth. Steadily increasing foreign direct investment in the region is indicative of this as the country seeks to attract $50 billion in new foreign investment by 2030.
Blackstone is uniquely positioned to take advantage of this, thanks to two factors. US President Joe Biden's Inflation Reduction Act, which came into force in August 2022, represents the largest investment into climate action in United States history. A similar initiative is rolling out in the European Union (EU), which maintains a Free Trade Agreement with Vietnam — something multiple partners of the company have expressed interest in.
Blackstone's Ta Khoa Project consists of two streams, the Ta Khoa Nickel Mine and the Ta Khoa Refinery. Recent milestones point to Blackstone’s commitment to advancing this game-changing project.
These milestones include a memorandum of understanding with Cavico Laos Mining to collaborate in a number of areas associated with CLM’s nickel mine in Lao People's Democratic Republic and supply of nickel products for Blackstone’s Ta Khoa Refinery in Vietnam.
Blackstone also partnered with Arca Climate Technologies to further investigate the carbon capture potential at the Ta Khoa Project through carbon mineralisation, and explore opportunities to utilise Arca’s carbon capture technologies within the project.
In a bid to collaborate on the supply of renewable wind energy to the Ta Khoa Project, Blackstone signed a direct power purchase agreement with Limes Renewables Energy.
Blackstone received AU$2.8 million as an advance from a research & development (R&D) lending fund backed by Asymmetric Innovation Finance and Fiftyone Capital. The advanced payment reflects the significant investment by Blackstone to develop the Ta Khoa Refinery process and Blackstone’s unique strategy to convert nickel concentrate blends into battery products in the form of precursor cathode active material (pCAM).
In December 2023, Blackstone entered into an option agreement with CaNickel Mining to acquire the Wabowden nickel projectlocated in the world-class Thompson Nickel Belt in Manitoba, Canada.
The Wabowden project will have the potential to fill the Ta Khoa Refinery, removing dependence on third party feed sources.
The company has signed a non-binding MOU with the Development for Resources Environmental Technology joint stock company (DRET) to investigate opportunities to repurpose and trade waste material (or residue) from the Ta Khoa Refinery into construction material products. Moreover, it has also progressed the Ta Khoa Refinery byproduct offtake strategy with Vietnam Chemical Group (VinaChem), PV Chemical and Equipment Corporation (PVChem) and Nam Phong Green Joint Stock Company (Nam Phong) to sell Ta Khoa Refinery byproducts, being manganese sulphate (or epsomite) and sodium sulphate.
As the company plans to build a global nickel business, Blackstone signed a non-binding memorandum of understanding with Yulho Co. Ltd (Yulho) and EN Plus Co. Ltd (EN Plus) to establish a collaboration across the businesses including EN Plus and Yulho who are in joint venture on the Ntaka Hill nickel sulphide project in Tanzania, and the Dinagat Island nickel laterite project in the Philippines.
Company Highlights
- The global nickel market is currently entering a structural deficit, with demand expected to grow 950 percent by 2040.
- Blackstone Minerals is well-positioned to address this deficit as a vertically integrated producer of low-cost, low-carbon nickel.
- Blackstone's flagship project Ta Khoa is a brownfield project situated in Vietnam, one of the lowest capital cost countries in the world and an emerging hub for the electric vehicle market with vast reserves of nickel.
- Vietnam is an increasingly attractive region for investment with direct foreign investments that grew from $1.3 billion in 2000 to $15.6 billion in 2020.
- The Ta Khoa project also has infrastructure advantages, via the existing Ban Phuc mine, and processing facilities, access to low-cost and underutilized hydroelectricity, a trained labor force and support from the local government.
- Blackstone Minerals’ downstream pre-feasibility study confirms a technically and economically robust hydrometallurgical refining process to upgrade nickel sulphide concentrate to produce battery-grade nickel.
- Blackstone’s key nickel and cobalt feedstocks for the Ta Khoa Refinery Pilot program were delivered to the metallurgical laboratory in Western Australia as of April 2022.
Key Project
Ta Khoa
Blackstone holds a 90 percent interest in the Ta Khoa Nickel-Copper-PGE Project, located 160 kilometers west of Hanoi in the Son La Province of Vietnam. It includes an existing modern nickel mine built to Australian Standards, which is currently under care and maintenance. The Ban Phuc nickel mine successfully operated as a mechanized underground nickel mine from 2013 to 2016.
Blackstone intends to complement the existing mine through the installation of a large concentrator, refinery and precursor facility, supporting integrated on-site production of nickel, cobalt and manganese precursor products for the Asia-Pacific market. One of Blackstone's key Research and Development objectives with Ta Khoa is to develop a flowsheet that will support this production.
To fulfill this goal, Blackstone is focusing on a partnership model, collaborating with groups committed to sustainable mining. It is also working to minimize its carbon footprint and implement a vertically integrated supply chain.
Project Highlights:
- Multiple Massive Sulphide Deposits: The Ta Khoa project features several incredibly promising deposits including King Snake (up to 4.3 percent nickel and 18.2 grams per ton (g/t) PGE), Sui Phong (2.95 meters @ 2.42 percent nickel, 0.52 percent copper, 0.06 percent cobalt and 0.05 g/t PGE), and Ban Chang. The project is also the site of the Ban Phuc nickel mine, which was operated from 2013 to 2016 by Asia Mineral Resources, along with several exploration targets that have yet to be tested.
- Experienced Leadership: Internally, Blackstone’s owners’ team brings over 50 years of experience in leadership roles at major nickel mines and refineries globally. This experience has been complemented by ALS Group, Wood, Future Battery Industries CRC, Curtin University and the Electric Mining Consortium.
- Large Reserve and Mining Inventory: The entirety of Ta Khoa is estimated to contain probable reserves of 48.7 Mt at 0.43 percent nickel for 210 kilotons (kt) of nickel and a mining inventory of 64.5 Mt at 0.41 percent nickel for 265 kt nickel. This excludes Ban Khoa and other developing prospects.
- A Long-lived Project: The Ta Khoa mine is expected to produce a yearly average of 18 kt of annual nickel concentrate over its ten-year lifespan. Blackstone believes the refinery can potentially extend its life past ten years.
- An Established Mining Operation: Existing infrastructure onsite includes a 450 ktpa Mill and mining camp. The mine will also benefit from a highly supportive community and favorable government legislation — Blackstone is committed to collaborating with community stakeholders in the project's development.
- Feed Flexibility: Ta Khoa's refinery will offer multiple feed options, including nickel concentrate, mixed hydroxide precipitate, nickel matte and black mass. This flexibility greatly improves the security and greatly reduces the risk of the project overall.
- Valued Partnerships: Blackstone is collaborating with multiple industry leaders and groups in the development of Ta Khoa
- Compelling Pre-feasibility Study: The financial outcomes of a base case pre-feasibility study on the project are promising. Based on a conservative NCM811 precursor price forecast, Ta Khoa displays an exceptional internal return rate on capital invested.
- Integrated Vertical Strategy: Blackstone is constructing both the Ta Khoa mine and refinery against a highly supportive ESG, macroeconomic and fiscal backdrop. This along with Ta Khoa's low capital intensity gives the company a significant advantage over competitors. Said low intensity is the result of multiple factors, including competitive labor costs, favorable regulations and low-cost renewable hydroelectric power.
- A Leader in Low Emissions: Independent assessments from Digbee, Minviro and Circulor, alongside an audit from the Nickel Institute, have confirmed that Ta Khoa will be the lowest-emitting flowsheet in the industry, at 9.8 kilograms of CO2 per kilogram of precursor with opportunities for even further reduction.
- Promising Pilots: With the support of ALS and process engineering partner Wood, Blackstone recently completed a 12-month programme of work that developed a scaled version of its concentrate to sulphate flowsheet. The refinery, which processed more than 9 tonnes of concentrate and MHP, successfully achieved battery-grade nickel sulphate of 99.95 percent, with a nickel recovery rate of 97 percent.
- Current Roadmap: Blackstone's next priority is to complete a series of definitive feasibility studies. Once those are complete, it will focus on fully integrating the mine into the electric vehicle consumer supply chain and finalizing its refining partnership structure.
Management Team
Hamish Halliday - Non-executive Chairman
Hamish Halliday is a geologist with over 20 years of corporate and technical experience. He is also the founder of Adamus Resources Limited, an AU$3 million float that became a multimillion-ounce emerging gold producer.
Scott Williamson - Managing Director
Scott Williamson is a mining engineer with a commerce degree from the West Australian School of Mines and Curtin University. He has over 10 years of experience in technical and corporate roles in the mining and finance sectors.
Dr. Frank Bierlein - Non-executive Director
Dr. Frank Bierlein is a geologist with 30 years of technical and corporate experience, focusing on grassroots to mine-stage mineral exploration, target generation, project management and oversight, due diligence studies, mineral prospectivity analysis, metallogenic framework studies and mineral resources market and investment analysis.
Alison Gaines - Non-executive Director
Alison Gaines has over 20 years of experience as a director in Australia and internationally. She has experience in the roles of board chair and board committee chair, particularly remuneration and nomination and governance committees. She is also the managing director of Gaines Advisory P/L and was recently global CEO of international search and board consulting firm Gerard Daniels, with a significant mining and energy practice.
Gaines has a Bachelor of Laws and a Bachelor of Arts (hons) from the University of Western Australia, a Graduate Diploma in Legal Practice from Australian National University and an honorary doctorate of the University and Master of Arts (Public Policy) from Murdoch University. She is a fellow of the Australian Institute of Company Directors and holds the INSEAD certificate in corporate governance. She is currently the governor of the College of Law Ltd, and non-executive director of Tura New Music.
Dan Lougher - Non-executive Director
Daniel Lougher’s career spans more than 40 years involving a range of exploration, feasibility, development, operations and corporate roles with Australian and international mining companies including a period of eighteen years spent in Africa with BHP Billiton, Impala Plats, Anglo American and Genmin. He was the managing director and chief executive officer of the successful Australian nickel miner Western Areas Ltd until its takeover by Independence Group.
Lougher also holds a first class mine manager’s certificate of competency (WA) and is a fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). Lougher is the chair of the company’s technical committee and nomination committee.
Jamie Byrde - CFO and Company Secretary
Jamie Byrde has over 16 year's experience in corporate advisory, public and private company management since commencing his career with big four and mid-tier chartered accounting firms positions. Byrde specializes in financial management, ASX and ASIC compliance and corporate governance of mineral and resource focused public companies. He is also currently company secretary for Venture Minerals Limited.
Tessa Kutscher - Executive
Tessa Kutscher is an executive with more than 20 years of experience in working with C-Level executive teams in the fields of business strategy, business planning/optimisation and change management. After starting her career in Germany, she has worked internationally across different industries, such as mining, finance, tourism and tertiary education.
Kutscher holds a master’s degree in literature, linguistics and political science from the University of Bonn, Germany and a master’s degree in teaching from Ludwig Maximilian University of Munich.
Andrew Strickland - Executive
Andrew Strickland is an experienced study and project manager, a fellow of the Australian Institute of Mining and Metallurgy, University of WA MBA graduate, with undergraduate degrees in chemical engineering and extractive metallurgy from Curtin and WASM.
Before joining Blackstone, Strickland was a senior study manager for GR Engineering Services where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects. Over his career, he has held a variety of project development roles across both junior to mid-tier developers (including Straits Resources, Perseus Mining and Tiger Resources) and major multi-operation producers (South32).
Graham Rigo - Executive
Graham Rigo is an experienced study manager with over a decade of on-site production experience, holding undergraduate degrees in chemical engineering and finance from Curtin University, WA.
Before joining Blackstone, Rigo was a study manager for Ausenco where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects over a range of different commodities.
Rigo has over 11 years of site experience in nickel and cobalt hydromet production experience, in supervisory/superintendent level roles as well as process engineer experience.
Lon Taranaki - Executive
Lon Taranaki is an international mining professional with over 25 years of extensive experience in all aspects of resources and mining, feasibility, development and operations. Taranaki is a qualified process engineer from the University of Queensland Australia. He holds a Master of Business Administration, and is a fellow of the Australian Institute of Company Directors. Taranaki has established his career in Asia where he has successfully worked (and lived) across multiple jurisdictions and commodities ranging from technical, mine management and executive management roles.
Prior to joining Blackstone in February 2022, Taranaki was the chief executive officer of Minegenco, a renewable-energy-focused independent power producer. Preceding this, he was managing director of his private consultancy, AMG Mining Global, where he was providing services to the mining industry in Singapore, Guyana, Indonesia and Cambodia. Additionally, Taranaki has held various senior positions with Sakari Resources, PTT Asia Pacific Mining, Straits Resources, Sedgmans and BHP Coal.
Promising new source of low-carbon, battery-grade nickel
Heritage Provides Exploration Update on New Millennium Prospect
VANCOUVER, BC TheNewswire - March 24, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that samples have been submitted on Saturday March 22, 2025 from the New Millennium 2025 diamond drill program targeting two mineralized vein systems in the immediate vicinity of the highest grade grab sample on the property (2,330 gt Au) within its flagship exploration project Drayton Black Lake (" DBL ") (Figure 2 and 3). The Company anticipates recommencing drilling on Zone 3 Extension Prospect in short order.
New Millenium Target Historical Highlights:
The Company's 2025 diamond drill program drilled under historical trenches which had results up to 5.18oz/ton Au and 4.8oz/ton Au, +1,000g/t Ag, 0.37% Cu, %0.078 Mo, +1%Pb, 0.68%Zn
The Company has confirmed these findings at surface in prior work programs returning up to 2,330 g/t Au (grab) in the immediate vicinity of the above-mentioned trenches tracing over 300m at surface
Multi-elemental analysis from prior channel sampling programs supports positive correlation between Au and Te, Ag, Cu, Pb, Zn. When combined with visual inspection of core, shows similarities to mineralization at Zone 3, an intrusion related gold mineralization system identified in 2024 comparable to Hammond Reef style mineralization.
New Millennium Target Highlights (Press Release: February 27, 2025)
Total 556m in nine holes completed vs planned 370m over seven holes. Additional meterage was driven from favorable mineralization intersection. All samples are delivered to the lab as at Saturday March 22, 2025.
Drill holes show multiple occurrences (up to 51.40m core length) of variably mineralized shear zone material, local granitic/felsic intrusions, and massive to semi massive quartz veins (Figure 1) in seven of the nine holes drilled.
The presence of chalcopyrite with pyrite in chlorite-carbonate alteration with patchy k-feldspar alteration in quartz veins and wall-rock is reminiscent of some of the best Au-bearing intercepts at the nearby Zone 3 Prospect that were drilled in 2024 (September 20, 2024 Press Release).
Click Image To View Full Size
Figure 1: HML025-006 Select photograph showing variably mineralized shear zone material hosting semi massive fine grade pyrite filling laminations within massive to semi massive quartz veins associated with k-feldspar altered granite.
"The historical significance of the recently acquired (100% owned) New Millennium target area is very impressive and important to mention as we look forward to assay results. Our systematic exploration approach has successfully intersected significant mineralized core lengths, which is an interesting twist compared to the historically observed high-grade but narrow veins at surface.
It seems to widen at depth, which is a very good sign, considering we have only drilled up to 87m.
We are also looking forward to drilling Zone 3 (DBL Project) and the Rognon Mine are (Contact Bay Project), both of which are high potential drill target areas.
For some time now, we have secured a controlling position on our projects within one of the last underexplored greenstone belts with fantastic access in Northern Ontario. I would like to thank the technical team for their contributions to a successful 2025 drill program thus far, and I look forward to the assay results, continued drilling, and our growth together." Commented Peter Schloo, President, CEO and Director of Heritage
Click Image To View Full Size
Figure 2: DBL Total Property Outline
Click Image To View Full Size
Figure 3: DBL Project: Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Copyright (c) 2025 TheNewswire - All rights reserved.
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The White House introduces Immediate and Vigorous Measures to fast track the Domestic Mining Industry and Production
(TheNewswire)
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TORONTOTheNewswire - March 2 4 2025 - Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to report that t he White House announced immediate measures to be introduced to significantly increase the US production of lithium, nickel, copper, and rare earths, with an eye to increased production, the creation of jobs and, significantly, the reduction of US reliance on foreign nations.
The aim of the United States is to take immediate action to facilitate domestic mineral production to the maximum extent possible.
Heads of related Agencies, including Defense, Energy and Agriculture, are to be charged to facilitate domestic mineral production in the United States, providing loans, capital and technical assistance and working capital and to facilitate commercially viable domestic mineral production project to the maximum possible extent.
The link to the Executive Order is https://www.whitehouse.gov/presidential-actions/2025/03/immediate-measures-to-increase-american-mineral-production/
Homeland Nickel Inc. (SHL.V : SRCGF) is in a unique position in the US, its Oregon project has the potential to become one of the only suppliers of domestic Nickel in the country.
Homeland Nickel Inc., is poised to enter the US critical minerals market with a project which would qualify for all the Government DOD, DOE and IRA subsidies currently available.
A total of 30 EV battery plants are either planned, under construction or operational in North America. Of these, 3 plants are located within 500 miles in the adjoining States of Nevada and California. This is not to mention the global demand for stainless steel. As a consequence, Homeland is currently looking at acquiring additional other advanced Nickel-Copper properties in this region.
Noble Mineral Exploration inc. currently holds ~19,500,000 shares and 750,000 2-yr warrants of Homeland Nickel Inc.
Vance White CEO of Noble Mineral Exploration said: "As a very large shareholder of Homeland Nickel we are pleased that this may fast track the ability to carry out our proposed programs on the Red Flats and Cleopatra projects in Oregon where we have a potentially very large resource of nickel ore very close to surface. This could get very exciting!"
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc.(20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario, ~14,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs .
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds ~4,600 hectares in the Nagagami Carbonatite Complex and its ~3,200 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), all of which are in the province of Quebec.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets . Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. Canada Nickel's common shares trade on the TSX Venture Exchange under the symbol "CNC".
For more information, please visit www.canadanickel.com.
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks, and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
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Silver47 Announces Closing of Third Tranche and Upsize of Non-Brokered Private Placement from $8 Million to $11 Million
Silver47 Exploration Corp. (TSXV: AGA) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce that, due to strong investor demand, it has increased the size of its previously announced non-brokered private placement (the "Private Placement") from $8 million to $11 million (the "Upsize"). The Company also intends to complete the third tranche (the "Third Tranche") of the Private Placement on March 21, 2025. The closing of the Third Tranche, along with the Upsize, will be completed as part of the same financing, as set out in the Company's news releases dated February 19 and 24, 2025.
Pursuant to the Third Tranche, the Company will issue approximately 3,871,000 units at a price of $0.50 each, for gross proceeds of approximately $1,935,500. Completion of the Third Tranche will result in the Company having issued an aggregate of 14,938,400 units and 929,192 flow-through units (at a price of $0.57 per flow-through unit) for aggregate proceeds under the Private Placement of $7,998,839.
Each unit under the Third Tranche will consist of one common share in the capital of the Company (the "Common Share") and one-half of one Common Share purchase warrant (with each full warrant being a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share at a price of $0.75 within 36 months following issuance.
In connection with the Third Tranche, the Company will pay finders' fees of $72,975 in cash, representing 7% of the aggregate proceeds raised by such finder(s), and will issue approximately 145,950 finders' warrants (the "Finders' Warrants"), representing 7% of the number of securities sold to subscribers introduced to the Company by such finder(s). Each Finders' Warrant will be exercisable for one Common Share at an exercise price of $0.75 for a period of 36 months from the date of issuance. The Company will have paid to finders an aggregate of $284,294 in cash and issued an aggregate of 565,278 Finders' Warrants pursuant to the Private Placement to-date.
The Upsize will include the sale of the following securities:
- Up to 6,000,000 units of the Company at $0.50 each (the "Units"), for aggregate gross proceeds of up to $3 million. Each Unit will consist of one Common Share and one-half of one Warrant. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.75 within 36 months following issuance.
- The Upsize is expected to close on or about April 2, 2025, or on any other date or dates as the Company may determine.
The net proceeds from the sale of the Units and the units under the Third Tranche will be used to fund exploration activities at the Red Mountain Project in Alaska and for general working capital and gross proceeds from the sale of flow-through units indicated above will be used for exploration expenditures at the Company's Adams Plateau Project in British Columbia.
Closing of the Upsize is subject to receipt of conditional acceptance from the TSX Venture Exchange ("TSXV"). All securities issuable under the Private Placement including the Upsize are subject to a hold period of four months and one day from the date of issuance under applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the "United States" or to "U.S. persons" (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Silver47 Exploration Corp.
Silver47 Exploration Corp. is a Canadian-based exploration company that wholly-owns three silver and critical metals (polymetallic) exploration projects in Canada and the US. These projects include the Red Mountain Project in southcentral Alaska, a silver-gold-zinc-copper-lead-antimony-gallium VMS-SEDEX project. The Red Mountain Project hosts an inferred mineral resource estimate of 15.6 million tonnes at 7% ZnEq or 335.7 g/t AgEq, totaling 168.6 million ounces of silver equivalent, as reported in the NI 43-101 Technical Report dated March 2, 2023. The Company also owns the Adams Plateau Project in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX-VMS project, and the Michelle Project in the Yukon Territory, a silver-lead-zinc-gallium-antimony MVT-SEDEX project. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. Silver47's shares are traded on the TSXV under the ticker symbol AGA.
For more information about the Company, please visit www.silver47.ca and see the Technical Report filed on SEDAR+ (www.sedarplus.ca) and titled "Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX Geoscience Ltd."
Follow us on social media for the latest updates:
- Twitter: @Silver47co
- LinkedIn: Silver47
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Director and CEO
gthompson@silver47.ca
For investor relations
Meredith Eades
info@silver47.ca
778.835.2547
No securities regulatory authority has either approved or disapproved of the contents of this release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "upon" "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to: closing of the Third Tranche and the Additional Offering, including the number of securities issued in respect thereof; anticipated use of proceeds; expected closing date of the Third Tranche and the Additional Offering; payment of finder's fees; ability to obtain all necessary regulatory approvals; the statements in regards to existing and future products of the Company; and the Company's plans and strategies. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the ability to close the Third Tranche and the Additional Offering, including the time and sizing thereof, and receipt of required regulatory approvals; the use of proceeds not being as anticipated; the Company's ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and the additional risks identified in the Company's financial statements and the accompanying management's discussion and analysis and other public disclosures recently filed under its issuer profile on SEDAR+ and other reports and filings with the TSXV and applicable Canadian securities regulators. The forward-looking information are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws.
Not for distribution to United States Newswire Services or for dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245296
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REPEAT -- Independent Survey Confirms Public Support for Falco Horne 5 Project
Falco Resources Ltd. (TSX.V: FPC) (" Falco" or the " Company" ) is pleased to publish the results of an independent survey of the population of Rouyn-Noranda and Abitibi-Témiscamingue conducted by Léger regarding the understanding and social acceptability of the Falco Horne 5 underground mine project (the " Project" ).
Three out of four people support the Project
The results show that Falco enjoys strong majority support in Rouyn-Noranda, where 72% of respondents are in favour of the Horne 5 Project, and in Abitibi-Témiscamingue, where support reaches 74%. These results demonstrate the population's significant support for the Project, particularly given its economic spin-offs and positive impact on employment.
Trust in Falco
Respondents recognize the benefits the Project will bring to the region, emphasizing its key role in local and regional economic growth and job creation. Despite some concerns about environmental impacts, a strong majority of respondents (73%) are confident that Falco will work with civil society actors to ensure responsible implementation of the Project.
A Project for the common good
In addition, a high proportion of respondents (74%) felt that the Project should proceed for the community's benefit, strengthening the legitimacy and social acceptability of the Falco Horne 5 Project in the region.
Hélène Cartier, Vice-President of Environment, Sustainable Development and Community Relations, stated: "As demonstrated by the numerous briefs submitted to BAPE, these results confirm the population's strong support for our Project and our commitment to act responsibly. We will continue our concerted efforts with all stakeholders to ensure a mutually beneficial development. We believe this strong support justifies our request to the Québec government to deem the project acceptable."
Luc Lessard, President and CEO, added: "These results are a testament to the broad support for the Project among Rouyn-Noranda residents, consistent with what we have been seeing for several years now. Falco has submitted to the authorities at the Québec government a mining development project that will be of great benefit to the city, the Abitibi-Témiscamingue region and all of Québec. It remains surprising, however, that after more than 8 years, the government has yet to recognize the Project's conformity."
The Company will continue its discussions with the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (the " Ministère ") to have the Project's compliance recognized and complete the environmental analysis.
Highlights
Favourability of the Project
- 73% of respondents were in favor of the Project (28% very favorable, 46% somewhat favorable)
- Only 15% are unfavorable (5% very unfavorable, 10% somewhat unfavorable).
Main reasons for being in favor
- 47% : Job creation
- 26% : Positive impact on the local economy
Main perceptions
- 86% believe the Project will have a positive economic impact
- 80% believe mining projects strengthen regional pride
- 73% are confident that Falco will make its project acceptable and aligned with applicable societal and environmental expectations
- 61% believe Falco will take public opinion into account
The survey was conducted from February 27 to March 9, 2025, among 500 Abitibi-Témiscamingue residents aged 18 and over. The presumed margin of error is ±4.38%, 19 times out of 20. The survey can be viewed by clicking on the following link: https://bit.ly/3RfaMlZ
The Falco Horne 5 Project features a state-of-the-art mining operation that maximizes the use and rehabilitation of previously disturbed sites such as Quemont and Norbec. The Project will generate significant economic benefits, contributing approximately $3.8 billion to Québec's GDP, including $2.2 billion to the regional GDP, notably through the creation of 900 jobs during construction and 500 jobs during operations. By adding value to critical and strategic minerals, it will actively contribute to the energy transition and decarbonization of the economy.
ABOUT FALCO
Falco Resources is one of the largest mineral claim holders in the province of Quebec, with an extensive portfolio of properties in the Abitibi Greenstone Belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the camp and includes 13 former gold and base metal mining sites. Falco's main asset is the Horne 5 Project located beneath the former Horne mine, which 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, with a 16% interest in the Company.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Hélène Cartier
Vice President, Environment, Sustainable Development and Community Relations
514 216-8611
hcartier@falcores.com
FOR MORE INFORMATION ON THE METHODOLOGY:
Éric Normandeau
Strategic consultant, Léger
514 245-0195
enormandeau@leger360.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 STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and information (collectively " forward-looking statements ") within the meaning of applicable securities laws. These statements include references to the social acceptability and development of the Project, its economic spin-offs and positive impacts on employment, the benefits the Project will bring to the region, its key role in local and regional economic growth and job creation, and public support for the Project.
These statements are based on information currently available to the Company, and the Company provides no assurance that actual results will meet management's expectations. The occurrence of such events or the making of such statements are subject to several risk factors, including, without limitation, the risk factors identified in Falco's annual management report and other continuous disclosure documents available at www.sedarplus.com .
Although Falco believes that the assumptions and factors applied 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 press release, and there can be no assurance that such events will occur within the time frames disclosed or at all. As mentioned by Falco in its public disclosure and previous press releases, certain major issues have been raised by the Ministère in connection with the development of the Project and in the BAPE process, including the Project's compliance with section 197 of the Règlement sur l'assainissement de l'atmosphère (RAA). There can be no assurance or guarantee that the Ministère will change its position with respect to the application of section 197 of the RAA to the Project, that Falco will be able to respond to the Ministère's numerous additional requests in a timely manner or that Falco will be able to raise the funds necessary to pursue the additional studies requested by the Ministère, which could materially delay or prevent the granting of the required authorizations and thus adversely affect the development of the Project and Falco's financial condition. Except as required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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