Search Results for "Africa"

East Africa Metals Intersects 20 Meters Grading 4.7 g/t Gold and 4.7 g/t Silver at Da Tambuk

East Africa Metals Inc. (TSX VENTURE: EAM) (“East Africa” or the “Company”) is pleased to announce newly received results from on-going diamond drilling at the Adyabo Project in Ethiopia. Four holes have been completed at Da Tambuk, as part of a detailed infill program in the central area of the resource, and results for a total of eleven holes have been received from the Mato Bula south 40m x40m infill drill program.

  • At Da Tambuk – 20.00 metres grading 4.70 grams per tonne gold, and 4.7 grams per tonne silver, from 105.00 metres drill depth (ADD025);
  • At Da Tambuk – 8.61 metres grading 7.38 grams per tonne gold, and 23.1 grams per tonne silver, from 101.39 metres drill depth (ADD026);
  • At Mato Bula – 5.72 metres grading 6.06 grams per tonne gold, from 50.78 metres drill depth (WMD066), and;
  • At Mato Bula – 23.00 metres grading 1.27 grams per tonne gold, 0.51% copper, 6.1 grams per tonne silver, and 0.60% zinc, including 4.00 metres grading 4.54 grams per tonne gold, 0.70% copper, 6.5 grams per tonne silver, and 0.09% zinc, from 185.30 metres drill depth (WMD069).

Click here to read the full news release.


East Africa Metals Provides Results from Drill Program at the Harvest and Adyabo Projects

East Africa Metals Inc. (TSXV: EAM) (or the “Company”) is pleased to announce results from a multi targeted drill program at the Harvest and Adyabo Projects in the Arabian Nubian Shield of Ethiopia. The Company has conducted additional drill testing of the Harvest Project Mayshehagne and VTEM09 VMS prospects to potentially upgrade targets, confirm interpretation of mineralization, and assess targets for inclusion as potential satellite resource zones. Both prospects are located near the EAM’s Terakimti resource deposit. Drill intercepts continue to reflect very strong metal grades seen in previous drilling, and identifies the need for further delineation work on the VMS prospects.

As quoted in the press release:

Highlight intersections include:

At Silica Hill – 31.55 metres grading 9.40 grams per tonne gold, and 0.10 % copper, from 111.32 metres drill depth, and;
At VTEM09 – 24.06 metres grading 1.88 % copper, 3.08 grams per tonne gold, 66.4 grams per tonne silver, and 2.54 % zinc, from 35.84 metres drill depth, and;
At Mayshehagne – 21.19 metres grading 4.32 % copper, 1.04 grams per tonne gold, 35.9 grams per tonne silver, and 6.98 % zinc, from 36.58 metres drill depth.

Click here for the full text release


East Africa Provides Corporate Updates

East Africa Metals Inc. (TSXV: EAM) (“East Africa” or the “Company”) is pleased to provide the following updates on the Company’s activities:

Exploration and Drill Program
At the Harvest Project, additional diamond drilling has been conducted at the VTEM09, Mayshehagne and Lihamat prospects in the last quarter of 2016, with analyses anticipated in the first quarter of 2017. This drilling was primarily to follow up on previous drilling success:

  • at VTEM09, 10.21m @ 3.97 g/t Au, 3.16% Cu, 87 g/t Ag, 3.82% Zn (see news release dated July 23, 2013),
  • at Mayshehagne, 20.70m @ 1.03 g/t Au, 5.00% Cu,, 31 g/t Ag, 8.20% Zn (see news release dated August 8, 2012),
  • at Lihamat, 4m @ 111.6 g/t Au (see news release dated September 14, 2015).

*Original holes and qualifying data released August 8, 2012, July 23, 2013, and September 14, 2015. Minor variance may occur due to QAQC interval adjustments.

Work in 2017 will focus primarily on continued resource delineation drilling at Mato Bula and Da Tambuk, and will include testing gold surface exploration targets not yet drill tested on the Adyabo Project. Staged geophysical I.P. surveying will be conducted along the Mato Bula Trend, aimed at identifying additional exploration drill targets at depth, in proximity to the currently identified resources.

Mine Permit Application
The mining permitting application for East Africa’s 70% owned Terakimti Oxide Gold Project is advancing through the government approval process and making good progress. East Africa has been informed that the Ethiopian Ministry of Mines, Petroleum and Natural Gas (the “Ministry”) has completed their review of the mine permit application and has provided comments to the Company. The Company has scheduled a meeting with the Ministry on January 17, 2017, to discuss the Company’s responses in detail, and any other questions the Ministry may have regarding the Terakimti mining permitting application. The permitting application is specifically focused on the Terakimti Oxide Gold Project contained within the Harvest Project.

Terakimti Oxide Gold Project profile:

  • Mineral resource: 1,125,000 tonnes grading 3.2 grams per tonne gold and 24.0 grams per tonne silver containing 107,000 ounces of gold and 812,000 ounces of silver;
  • Simulated heap-leach recoveries: 75.3 per cent gold and 39.7 per cent silver;
  • Mining method: conventional open pit;
  • Processing: heap leaching to produce gold-silver dore.

Financing
East Africa is pleased to provide an update on its previously announced financing (see news release dated November 2, 2016).

East Africa has received confirmation from Shandong Tyan Home Co. Ltd. (“STH”) that it has completed legal, financial and technical due diligence and that the subscription agreement to acquire 20 million units of East Africa has been executed. Further, the Company has received conditional approval from the TSX Venture Exchange for the private placement and the associated Personal Information Form. The Company is awaiting the funds to be transferred. Once funds have been received, the Company will issue securities and close the financing.

The financing terms include:

  • STH is to acquire 20 million units of East Africa at a price of $0.26 per unit for gross proceeds of $5.2 million.
  • Each unit comprises one common share and one-half share purchase warrant with an exercise price of $0.45.
  • STH also agreed to provide or identify a partner or lender to provide a US$10-million debt financing to support the development of the Terakimti Oxide Gold Project, which is non-binding on STH.
  • Closing of the private placement is conditional on receipt of TSX Venture Exchange final approval and subscription funds.

Use of proceeds
Once closing of the financing is complete, the Company will use the funds for continuing exploration and development of East Africa’s Adyabo and Harvest Projects located in the Tigray region of the Federal Republic of Ethiopia (“Ethiopia”) and general working capital.

About East Africa
The Company’s principal assets and interests include both the 70% owned Harvest polymetallic VMS exploration Project, which hosts the Terakimti Deposit and which covers approximately 86 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa, and the Adyabo Project, hosting the Mato Bula trend Adyabo Resource, covering 196 square kilometres immediately west of the Harvest Project. The Company owns 100% of the Adyabo Project, subject to a 2% NSR. East Africa now has mineral resources defined at both projects in Ethiopia and plans to continue to test priority targets. Additionally, the Company owns the 93 square kilometre Handeni Property located in north-eastern Tanzania. Handeni includes the Magambazi Project, a gold deposit discovered in 2009. East Africa has entered into a definitive agreement with an arm’s length private exploration and development Company to advance the project.

More information on the Company can be viewed at the Company’s website: www.eastafricametals.com.

Jeff Heidema, P.Geo., a Qualified Person under the definitions of National Instrument 43-101, has reviewed and approved the contents of this news release.

On behalf of the Board of Directors:

Andrew Lee Smith, P.Geo., CEO

Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by East Africa as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of East Africa to be materially different from those expressed or implied by such forward-looking information, including but not limited to: early exploration; the closing of the agreement with the exploration and development company to advance the Magambazi Project or identify any other corporate opportunities for the Company; mineral exploration and development; metal and mineral prices; availability of capital; accuracy of East Africa’s projections and estimates, including the initial mineral resource for the Adyabo, Harvest and Magambazi Projects; estimated exploration licence extensions, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; foreign taxation risks; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in East Africa’s management’s discussion and analysis for the year end December 31, 2015, management’s discussion and analysis for the three and nine months ended September 30, 2016 and East Africa’s listing application dated July 8, 2013. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the successful integration of Tigray Resources Inc.’s business with the Company; the price of gold, silver, copper and zinc; the demand for gold, silver, copper and zinc; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework regarding environmental matters, the renewal or extension of exploration licences, and such other assumptions and factors as set out herein. Although East Africa has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not update or revise forward looking information even if new information becomes available unless legislation requires the Company do so. Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance with applicable securities laws.

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.

For further information contact:
Nick Watters
Business Development
Telephone +1 (604) 488-0822
Email investors@eastafricametals.com
Website www.eastafricametals.com


East Africa Metals Provides Project Update for Magambaz

East Africa Metals Inc. (TSXV: EAM) (“East Africa” or the “Company”) wishes to announce the Company’s development partner, Tanzanian Goldfields Limited (“Tanzanian Goldfields” or the “Developer”), has advised East Africa development activity has been initiated at the Magambazi Project located in the Handeni region of the United Republic of Tanzania (“Tanzania”).

According to Tanzanian Goldfields, the mobilization of equipment required to initiate test-mining and bulk-sampling operations as an initial phase of the development plan, is in progress. Gravity recovery equipment is currently onsite with additional equipment being mobilized to site from Dar es Salaam. Agitated leach tanks and Carbon in Leach (“CIL”) recovery equipment are scheduled for construction and installation over the next several months. Additionally, Magambazi Camp upgrades have commenced, with the production site preparation now in place.

Tanzanian Goldfields’ management has concluded discussions with community and government representatives for the handover of the Magambazi site and dismantling of artisanal operations to clear the way for the current test mining and bulk sampling program and future development of a commercial mining operation. The development of the Magambazi Project has the support of the local communities and the regional government with the handover now scheduled for October 12, 2016.

Tanzanian Goldfields indicates that test mining of the primary gold resource material, tailings and alluvial gold targets will commence October 15, 2016 with initial results expected to be available starting in November. Previously completed preliminary metallurgical test work on the primary gold mineralization at the Magambazi Project has demonstrated significant (72.6%) gold recoveries from gravity methods alone (see Canaco news release dated May 19, 2010). The initial phase of test-mining and bulk-sampling has been planned to confirm these results in the field and allow a definitive approach for the initial ramp up of production to be developed.

The East Africa /Tanzania Goldfields transaction
As previously disclosed, (see news releases dated March 7, 2016, December 10, 2015 and June 15, 2015), the Company has completed the execution of the Definitive Agreement with the Developer to acquire and develop East Africa’s projects located in the Handeni region of Tanzania.

Under the terms of the letter agreement (see news release dated June 15th, 2015), the Developer will; pay East Africa US$2 million in cash for a 100% interest in the Handeni properties, camp, equipment and other assets; convey to East Africa a 1.6% Net Smelter Royalty, capped at US$1.8 million, and convey to East Africa the right to acquire a gold stream equal to 30% of the life of mine gold production for a per ounce cost equal to the lesser of: (i) production cost plus 15% based on the Developer’s historical and budgeted production costs, and (ii) the prevailing market price for gold.

About East Africa
The Company’s principal assets and interests include both the 70%-owned Harvest polymetallic VMS exploration Project, which hosts the Terakimti Deposit and which covers approximately 86 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa, and the Adyabo Project, hosting the Mato Bula trend Adyabo Resource, covering 225 square kilometres immediately west of the Harvest Project. The Company owns 80% of the Adyabo Project, and upon execution of a Net Smelter Return (“NSR”) agreement the Company will own 100% of the Adyabo Project, subject to a 2% NSR. East Africa now has mineral resources defined at both projects in Ethiopia and plans to continue to test priority targets. Additionally, the Company owns the 91 square kilometre Handeni Property located in north-eastern Tanzania. Handeni includes the Magambazi Project, a gold deposit discovered in 2009. East Africa has entered into a definitive agreement with an arm’s length private exploration and development company to advance the project.

More information on the Company can be viewed at the Company’s website: www.eastafricametals.com. Jeff Heidema, P.Geo., a Qualified Person under the definitions of National Instrument 43-101, has reviewed and approved the contents of this news release.

On behalf of the Board of Directors:

Andrew Lee Smith, P.Geo., CEO

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by East Africa as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of East Africa to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of the Terakimti Gold Oxide Resource mining permit; closing of project finance; early exploration; the closing of the agreement with the exploration and development company to advance the Magambazi Project or identify any other corporate opportunities for the Company; mineral exploration and development; metal and mineral prices; availability of capital; accuracy of East Africa’s projections and estimates, including the initial mineral resource for the Adyabo, Harvest and Magambazi Projects; estimated exploration license extensions; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; foreign taxation risks; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in East Africa’s management’s discussion and analysis for the year end December 31, 2015; management’s discussion and analysis for the six months ended June 30, 2016; East Africa’s listing application dated July 8, 2013 and Tigray Resources Inc. Management Information Circular dated March 28, 2014. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The contained gold, copper and silver figures shown are in situ. No assurance can be given that the estimated quantities will be produced. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the successful integration of Tigray Resources Inc.’s business with the Company; the price of gold, silver, copper and zinc; the demand for gold, silver, copper and zinc; the ability to carry on exploration and development activities; the timely receipt of any required approvals including mining permits; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework regarding environmental matters, the renewal or extension of exploration licenses, and such other assumptions and factors as set out herein. Although East Africa has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not update or revise forward looking information even if new information becomes available unless legislation requires the Company do so. Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance with applicable securities laws.

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.

For further information, contact:
Nick Watters
Business Development
Telephone +1 (604) 488-0822
Email nwatters@eastafricametals.com
Website www.eastafricametals.com


East Africa Metals Announces SinoTech Elects to Exercise $805,000 in Warrants

VANCOUVER, BC–(Marketwired – August 23, 2016) – East Africa Metals Inc. (TSX VENTURE: EAM) (“East Africa” or the “Company”) is pleased to report that long time shareholder SinoTech (Hong Kong) Corporation Limited (“SinoTech”) has elected to exercise 3,500,000 warrants at a price of $0.23 realizing $805,000 CDN for the Company. The exercise will bring SinoTech’s total holdings to 37,788,062 or 32.1% of the Company. SinoTech is a private share company incorporated October 26, 2010, that has supported East Africa’s advancement activities for a number of years.

The proceeds will be used for ongoing technical, permitting and exploration expenditures as the Company prepares to advance the Terakimti Oxide Gold Project to the development stage, and prepare the Mato Bula and Da Tambuk deposits for mine permitting.

East Africa’s management anticipates an active Fall program on the development and exploration fronts as the Company looks to address corporate objectives including; completion of mine permitting, close project financing and on receipt of the mining permit initiate development for the Terakimti Oxide Gold project, the initiation of operations at Magambazi in Tanzania, and continuing to grow the Company’s mineral resource base in Ethiopia through exploration and definition drilling.

The Company’s current resource base in Ethiopia comprises 926,000 gold equivalent ounces in the indicated category plus 860,000 gold equivalent ounces in the inferred category (see table below and news release dated June 29, 2016) from Terakimti, Mato Bula and Da Tambuk. Exploration targets planned to be tested to continue the growth of the resource base include the VTEM09 and Mayshehagne prospects, and additional targets along the largely underexplored Mato Bula/Da Tambuk trend.

“The continued support of SinoTech as we develop our Ethiopian assets is greatly appreciated”, stated Andrew Lee Smith, Company President and CEO. “East Africa Metals expects to continue to benefit from the contributions of our Beijing-based partner as we continue to advance the Harvest and Adyabo Projects”.

East Africa’s Mineral Resources at Harvest (Terakimti) and Adyabo Projects

Project Ownership Resource Summary
Adyabo 3(Indicated) 100% 446K Ounces AuEquiv
Adyabo 3(Inferred) 100% 434K Ounces AuEquiv
Terakimti Oxide Update 1 (Indicated) 70% (Permit Pending) 132K Ounces AuEquiv
Terakimti Sulphide 2 (Indicated) 70% 348K Ounces AuEquiv 139M lbs CuEquiv
Terakimti Sulphide 2 (Inferred) 70% 426K Ounces AuEquiv 170M lbs CuEquiv

The resources stated above have been previously disclosed in News Releases. (Terakimti Initial Resource Estimate disclosed via news release dated January 27, 2014; effective date January 17, 2014. Terakimti Gold Oxide disclosed via news release October 27, 2015; effective date October 18, 2015. Subsequent to the release of the Terakimti Gold Oxide Resource update, a review by the resource QP identified an error in the tabulation of mineral resources. The corrected resource information was disclosed via news release on January 11, 2016. Adyabo project updated mineral resource estimate disclosed via news release dated June 14, 2016; effective date May 31, 2016).

1Terakimti Gold Oxide Resource update disclosed October 27, 2015; effective date October 18, 2015. Full mineral resource estimate disclosure can be found in the company’s news release dated October 27, 2015, available at www.eastafricametals.com or at www.sedar.com. Subsequent to the release of the Terakimti Gold Oxide Resource update, a review by the resource QP identified an error in the tabulation of mineral resources. The corrected resource information was disclosed via news release on January 11, 2016. Metal prices for gold and silver are $1,300/oz and $17.50/oz, respectively.

2Terakimti Initial Resource Estimate disclosed via new release dated January 27, , 2014; effective date January 17, 2014. Full mineral resource estimate disclosure can be found on the company’s website or at www.sedar.com. Metal prices for gold, silver, copper, and zinc are $1,400/oz, $25.00/oz, $3.50/lb, and $0.90/lb, respectively.

3Adyabo project updated mineral resource estimate disclosed via news release dated June 14, 2016; effective date May 31, 2016. Metal prices for gold, silver, and copper are $1,400/oz, $20.00/oz, and $3.20/lb, respectively. Metallurgical recoveries of 88.5% for gold, 87.5% for copper and 50% for silver were applied at Mato Bula and Mato Bula North. Metallurgical recoveries of 97% for gold, 72% for copper, and 50% for silver were applied at Da Tambuk.

Gold Equivalent grade calculator (Au, Ag, Cu):Au g/t + (Ag g/t*$Au/$Ag) + (Cu %*22.0462*$Cu)/($Au/31.1035)|||Gold Equivalent grade calculator (Au, Ag, Cu, Zn):Au g/t + (Ag g/t*$Au/$Ag) + (Cu %*22.0462*$Cu)/($Au/31.1035) + (Zn %*22.0462*$Zb)/($Au/31.1035)|||Copper Equivalent grade calculator (Cu, Au, Ag):Cu % + ((Au g/t*$Au)+(Ag g/t*$Ag)/(22.0462*$Cu*31.0135)|||Copper Equivalent grade calculator (Cu, Au, Ag, Zn):Cu % + ((Au g/t*$Au)+(Ag g/t*$Ag)/(22.0462*$Cu*31.0135) + Zn%*$Zn/$Cu|||31.1035 is a grams/ounce conversion factor. 22.0462 is a tonne/pound conversion factor.

About East Africa

The Company’s principal assets and interests include both the 70%-owned Harvest polymetallic VMS exploration Project, which hosts the Terakimti Deposit and which covers approximately 86 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa, and the Adyabo Project, hosting the Mato Bula trend Adyabo Resource, covering 225 square kilometres immediately west of the Harvest Project. The Company owns 80% of the Adyabo Project, and upon execution of a net smelter return agreement the Company will own 100% of the Adyabo Project, subject to a 2% NSR. East Africa now has mineral resources defined at both projects in Ethiopia and plans to continue to test priority targets. Additionally, the Company owns the 91 square kilometre Handeni Property located in north-eastern Tanzania. Handeni includes the Magambazi Project, a gold deposit discovered in 2009. East Africa has entered into a definitive agreement with an arm’s length private exploration and development company to advance the project.

More information on the Company can be viewed at the Company’s website: www.eastafricametals.com. Jeff Heidema, P.Geo., a Qualified Person under the definitions of National Instrument 43-101, has reviewed and approved the contents of this news release.

On behalf of the Board of Directors:
Andrew Lee Smith, P.Geo., CEO

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by East Africa as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of East Africa to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of the Terakimti Gold Oxide Resource mining permit; closing of project finance; early exploration; the closing of the agreement with the exploration and development company to advance the Magambazi Project or identify any other corporate opportunities for the Company; mineral exploration and development; metal and mineral prices; availability of capital; accuracy of East Africa’s projections and estimates, including the initial mineral resource for the Adyabo, Harvest and Magambazi Projects; estimated exploration licence extensions; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; foreign taxation risks; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in East Africa’s management’s discussion and analysis for the year end December 31, 2015; management’s discussion and analysis for the three months ended March 31, 2016; East Africa’s listing application dated July 8, 2013 and Tigray Resources Inc. Management Information Circular dated March 28, 2014. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The contained gold, copper and silver figures shown are in situ. No assurance can be given that the estimated quantities will be produced. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the successful integration of Tigray Resources Inc.’s business with the Company; the price of gold, silver, copper and zinc; the demand for gold, silver, copper and zinc; the ability to carry on exploration and development activities; the timely receipt of any required approvals including mining permits; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework regarding environmental matters, the renewal or extension of exploration licences, and such other assumptions and factors as set out herein. Although East Africa has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not update or revise forward looking information even if new information becomes available unless legislation requires the Company do so. Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance with applicable securities laws.

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.

For further information contact:
Nick Watters
Business Development
Telephone +1 (604) 488-0822
Email investors@eastafricametals.com
Website www.eastafricametals.com


Silver Bull’s Mitzic Iron Ore License in Gabon, Central Africa Renewed

Silver Bull Resources, Inc. (TSX:SVB) was granted renewal of its 2,000 square kilometer Mitzic license by the Ministry of Mines in Gabon for an additional 3 years. Silver Bull also reported results of the work program on the Mitzic License completed over the last 2 years.

As quoted in the press release:

The Mitzic license lies 180km northeast of the capital city of Libreville and is accessed via a paved road directly to site and lies 60km to the north of a functioning railway. In addition to the Mitzic license, Silver Bull also recently renewed its 2,000 square kilometer “Ndjole” license which is highly prospective for gold and manganese.

Mitzic License – Iron Results: A regional reconnaissance work program on the Mitzic license targeting over 70 kilometers of magnetic highs has confirmed the widespread presence of a coarse grained, magnetite rich, Banded Iron Formation “BIF” averaging approximately 40% Fe. Localized supergene and hypogene enrichment in excess of 65% Fe is seen in the field but is thus far poorly constrained. Geological mapping shows the BIF forms a series of topographic highs with up to 300m of relief and has localized evidence of thickening through folding and faulting. The steep dipping nature of the BIF’s also suggests they continue at depth.

Click here to read the Silver Bull Resources (TSX:SVB) press release

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Silver Bull Announces Termination of Ndjole-Mevang and Ogooue Joint Ventures in Central Africa

AngloGold Ashanti Holdings has notified Silver Bull Resources, Inc. (TSX:SVB) on terminating the Ndjole-Mevang and Ogooue joint venture agreements in Gabon, Central Africa.

As quoted in the press release:

Under the terms of the joint venture, AngloGold earned a 20% interest by paying to Dome US $400,000 upon signing of the joint venture agreement in October 2009. AngloGold could then earn an additional 40% interest by paying Dome US $100,000 per year over the next three years and by spending US $3.7 million on exploration over this period. By terminating the joint venture AngloGold forfeits all its interests in these licenses and 100% of these licenses return to Dome.

In addition to the Ndjole-Mevang joint venture, AngloGold, aided by Dome, also acquired a reconnaissance license under its own name over an area comprising 8,295 square kilometers in Gabon, West Africa. Dome retained a 20% interest in the license with AngloGold making a firm commitment to spend US $100,000 on exploration and to solely fund the first US $3 million of exploration expenditures, after which the parties would contribute on an 80/20 basis.

Silver Bull Resources President and CEO Tim Barry said:

We wish to thank AngloGold for the professional manner in which it carried out its obligations under the joint venture agreements and for significantly advancing the projects. We remain very positive about the exploration opportunities that exist in Gabon, especially on the manganese and gold potential we see in the Ndjole area, and the iron ore potential of our Mitzic license – which was not part of the AngloGold joint venture.

Click here to read the Silver Bull Resources (TSX:SVB) press release

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Sono Extends High-Resolution Aeromag Program on its Copper/Silver Project in Botswana, Africa

Sono Resources Inc. (OTC:SRCI) announced it has extended its aeromag program at its copper-silver property in Botswana.

The press release is quoted as saying:

After an initial review of the high-resolution magnetic data, target horizon extensions were identified from a detailed technical analysis of the local geology which matches the geological model of the Kalahari Copper Belt. Therefore, the decision was made to fly additional line kilometers over the Company’s three license blocks.

To read the full press release, click here.


Rockgate Announces Positive Metallurgy Results with Recoveries of 90% for Uranium and 77.5% for Silver, Falea U-Ag-Cu Project, Mali, West Africa

Rockgate Capital Corp. (TSX VENTURE:RGT) reported positive results from preliminary metallurgical testwork completed on the North Zone at the Falea Uranium Silver Copper project by SGS South Africa Mineralogical Services.

The press release is quoted as saying:

Silver leach recoveries can likely be improved using a finer grind and/or employing a stronger cyanide solution. Further testwork is required to optimize silver leach recoveries. Similarly, further flotation testing will focus on optimization of copper and silver concentrates.

Click here to access the entire press release

Click here to access Rockgate Capital Corporate Site


Barrick: Pricing of African Barrick Gold plc Initial Public Offering

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) reported the pricing of the initial public offering of African Barrick Gold plc , a new company whose equity will be admitted to the Official List of the Financial Services Authority and to trading on the London Stock Exchange’s main market for listed securities.

The press release is quoted as saying:

An offer price of GBP 5.75 per ordinary share has been set and the net proceeds of the offering are expected to be approximately $834 million, which will be paid to Barrick.

Click here to access the entire press release

Click here to access Barrick Gold Corporate Site


Trevali Reports Record Q3-2017 Production

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) reports record consolidated third quarter (“Q3”) 2017 preliminary production results of 58.4-million payable lbs. of zinc, 12.5-million payable lbs. of lead and 433,442 payable ounces of silver, including September 2017 monthly production from the Rosh Pinah mine in Namibia and Perkoa mine in Burkina Faso that were both acquired from Glencore PLC on August 31, 2017 (Table 1 and see news release TV-NR-17-19).

trevali-1

(1) Q3-2017 and YTD-2017 preliminary production figures include September 2017 production figures from the Perkoa and Rosh Pinah mines following the closure of the African zinc asset acquisition from Glencore PLC on August 31, 2017.

 

Operational Highlights

  • Record overall quarterly zinc, lead and silver production.
  • At Santander, mine and mill output increased by 23% and 7% respectively from Q2. Zn head-grades increased 12% and payable metal units have increased 21% for Zn, 29% for Pb and 7% for Ag versus prior quarter.
  • Record mill throughput and mine output at Perkoa.
  • Material improvements at Caribou – record production during transition period to owner-operated mining activities. September zinc recoveries, metal production and concentrate content set a new monthly record of 81.5% recovery.
  • Rosh Pinah mine, mill and zinc recoveries all increased on a quarter-to-quarter basis by 12%, 7% and 2% respectively. The mill re-grind project remains on track and budget for commissioning by year-end.

“Following our August 31st acquisition of the Rosh Pinah and Perkoa zinc mines from strategic partner Glencore, we are excited to report record quarterly metal production for Trevali in Q3,” stated Dr. Mark Cruise, Trevali’s President and CEO. “Integration of the new African mines has progressed well and we are pleased with performance achieved to date. We are also encouraged with the production growth potential identified at these mines and are moving forward on optimization initiatives to further improve metal output.”

 

Santander Zinc Mine, Peru

Preliminary Q3 Santander production was 14.6 million payable pounds of zinc, 3.9 million payable pounds of lead and 194,214 payable ounces of silver (see Table 2). Recoveries averaged 88% for zinc, 82% for lead and 67% for silver.

Santander mill throughput for Q3-2017 was a new record of 219,105 tonnes, approximately 20% above the nameplate design of 2,000-tonnes-per-day (730,000 tonnes per year). Mine production the quarter was 183,200 tonnes.

Santander metal production, mine output, mill throughput and recoveries all increased significantly in Q3 over the preceding quarter. Tonnes mined over Q3 increased 23% from the preceding quarter, tonnes milled was up 7% over Q2, average zinc head grades increased 12%, and payable Zn, Pb and Ag production were up 21%, 29% and 7% respectively over the prior quarter.

The Company is finalizing the upgrade of its pumping infrastructure to facilitate long-range planning as the mining transitions deeper in the Magistral zones with the system on track for commissioning prior to year-end 2017. It is anticipated to result in reduced power requirements and improve overall mine efficiency upon completion.

trevali-2

 

2017 Santander Mine Production Guidance (2)

The 2017 production guidance estimate for the Santander mine remains as follows:

  • 52-57 million pounds of payable zinc in concentrate;
  • 12-14 million pounds of payable lead in concentrate; and
  • 700,000-900,000 ounces of payable silver

Total site cash costs for 2017 are estimated to range from approximately US$35-40 per tonne milled.

2 Constitutes forward-looking information. See “Cautionary Note Regarding Forward Looking Statements” at the end of this document.

The Phase I, approximately 13,000-metre, 2017 exploration program commenced during the second quarter utilizing both surface directional and underground drill rigs. The aim of the program is to aggressively probe the depth and lateral extents of the Magistral and Santander polymetallic systems that remain open for expansion in addition to converting additional inferred tonnages into higher confidence categories to support longer-range mine planning.

Caribou Zinc Mine, Canada

Preliminary Q3 Caribou production was 20.8 million pounds of payable zinc, 7.3 million payable pounds of lead and 220,012 payable ounces of silver (see Table 3). Recoveries for the quarter averaged 79% for zinc, a new record. Specifically, September zinc recoveries, metal production and concentrate content set a new monthly record of 81.5% recovery to produce 4,233 tonnes of zinc metal. Mill throughput for the quarter was 234,007 tonnes and mine production was 241,866 tonnes.

With the transition to owner-operated underground mining and the new Sandvik fleet largely in place, mining operations saw improved overall performance including increased tonnes mined (with July averaging a record 3,112 tonnes-per-day), a large decrease in mine dilution to 8.4% (from 18.2% in the first half of 2017) due to the new cable bolter performance and efficiency, and increased operating efficiencies in the new underground haul trucks and scooptrams of 23 and 4.3% respectively.

trevali-3

Caribou metal production, mine output, mill throughput and recoveries all increased notably in Q3 over the preceding quarter. Tonnes mined in Q3 increased 8% from the preceding quarter, tonnes milled was up 4% over Q2, average zinc head grades increased 11%, and payable Zn, Pb and Ag production were up 16%, 6% and 8% respectively over the prior quarter. Unfortunately, despite material production gains made in Q3 and anticipated in Q4, they will be insufficient to enable site to meet 2017 zinc production guidance. Consequently, 2017 guidance has been revised downwards to 81-84 million pounds of payable zinc. Both lead and silver remain unchanged.

2017 Caribou Mine Production Guidance (2)

The 2017 production guidance estimate for the Caribou mine has been revised to:

81-84 million pounds of payable zinc in concentrate;
30-32 million pounds of payable lead in concentrate; and
800,000-900,000 ounces of payable silver
Total site cash costs for 2017 are estimated at approximately US$55-60 per tonne milled.

2 Constitutes forward-looking information. See “Cautionary Note Regarding Forward Looking Statements” at the end of this document.

Rosh Pinah Zinc Mine, Namibia

Preliminary full Q3 Rosh Pinah production was 20.1 million pounds of payable zinc, 3.9 million payable pounds of lead and 52,284 payable ounces of silver (see Table 4). Recoveries averaged 87% for zinc, 63% for lead and 50% for silver. Mill throughput for the quarter was 173,734 tonnes. Only September production is incorporated into the Company’s consolidated preliminary production Table 1.

trevali-4

Rosh Pinah mine output, mill throughput and zinc recoveries all increased in Q3 versus the preceding quarter. Tonnes mined in Q3 increased 12% from the preceding quarter, tonnes milled was up 6% over Q2, Zn recoveries increased 2%, however the average zinc head grade decreased to 7% (from 9.5% in Q2) resulting in lower payable zinc production in Q3. The decrease in the average Q3 zinc head grade was a factor of temporary mine sequencing into a lower-grade portion of the orebody. Mining has now moved back into zones with run-of-mine head grades of approximately 8.5-9% zinc.

2017 Rosh Pinah Mine Production Guidance (2)

The 2017 production guidance estimate (on a full-year basis) for the Rosh Pinah mine is:

  • 100-105 million pounds of payable zinc in concentrate;
  • 9-11 million pounds of payable lead in concentrate; and
  • 200,000 ounces of payable silver

Total site cash costs for 2017 are estimated at approximately US$45-50 per tonne milled.

2 Constitutes forward-looking information. See “Cautionary Note Regarding Forward Looking Statements” at the end of this document.

Perkoa Zinc Mine, Burkina Faso

Preliminary full Q3 Perkoa production was 44.9 million pounds of payable zinc with an average Zn recovery of 91% (Table 5). Mill throughput for the quarter was a record 173,479 tonnes along with record quarterly mine production of 192,392 tonnes. Only September production is incorporated into the Company’s consolidated preliminary production Table 1.

trevali-5

2017 Perkoa Mine Production Guidance (2)

The 2017 production guidance estimate (on a full-year basis) for the Perkoa mine is 165-170 million pounds of payable zinc in concentrate.

Total site cash costs for 2017 are estimated at approximately US$95-100 per tonne milled.

2 Constitutes forward-looking information. See “Cautionary Note Regarding Forward Looking Statements” at the end of this document.

Integration Update

Corporate and Business Unit technical, financial and strategic integration continues to progress well with the team focusing on streamlining system and group synergies and cost savings including supply chain and technical support initiatives.

Qualified Person and Quality Control/Quality Assurance

EurGeol Dr. Mark D. Cruise, Trevali’s President and CEO, Paul Keller, P.Eng, Trevali’s Chief Operating Officer are qualified persons as defined by NI 43-101, have supervised the preparation of and have verified the scientific and technical information that forms the basis for this news release. Dr. Cruise is not independent of the Company as he is an officer, director and shareholder. Mr. Keller is not independent of the Company as he is an officer and shareholder.

ABOUT TREVALI MINING CORPORATION

Trevali is a zinc-focused, base metals mining company with four commercially producing operations.

The Company is actively producing zinc concentrates from its wholly-owned Santander mine in Peru, the wholly-owned Caribou mine in the Bathurst Mining Camp of northern New Brunswick, its 80% owned Rosh Pinah mine in Namibia and its 90% owned Perkoa mine in Burkina Faso. Trevali also owns the Halfmile and Stratmat base metal deposits located in New Brunswick, that are currently undergoing a Preliminary Economic Assessment reviewing their potential development.

The common shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company’s website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of TREVALI MINING CORPORATION

Mark D. Cruise, President

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Statements containing forward-looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and the Company does not intend, and does not assume any obligation to, update such statements containing the forward-looking information. Such forward-looking statements and information include, but are not limited to statements as to: The Company’s plan to prepare a new PEA for its Halfmile and Stratmat properties, the accuracy of estimated mineral resources, anticipated results of future exploration, and forecast future metal prices, expectations that environmental, permitting, legal, title, taxation, socio-economic, political, marketing or other issues will not materially affect estimates of mineral resources. These statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.

Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in spot and forward markets for silver, zinc, base metals and certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in currency markets; risks related to the technological and operational nature of the Company’s business; changes in national and local government, legislation, taxation, controls or regulations and political or economic developments in Canada, the United States, Peru, Namibia, Burkina Faso, or other countries where the Company may carry on business in the future; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits and the presence of laws and regulations that may impose restrictions on mining; diminishing quantities or grades of mineral resources as properties are mined; global financial conditions; business opportunities that may be presented to, or pursued by, the Company; the Company’s ability to complete and successfully integrate acquisitions and to mitigate other business combination risks; challenges to, or difficulty in maintaining, the Company’s title to properties and continued ownership thereof; the actual results of current exploration activities, conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors; increased competition in the mining industry for properties, equipment, qualified personnel, and their costs.
Investors are cautioned against attributing undue certainty or reliance on forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

Trevali’s production plan at the Caribou Mine is based only on measured, indicated and inferred mineral resources, and not mineral reserves, and does not have demonstrated economic viability. Trevali’s production plans at the Perkoa Mine, Rosh Pinah Mine and Santander Mine are based on both proven and probable reserves and on measured, indicated and inferred mineral resources; mineral resources by definition do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is therefore no certainty that the conclusions of the production plans and Preliminary Economic Assessment (PEA) will be realized. Additionally, where Trevali discusses exploration/expansion potential, any potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

We advise US investors that while the terms “measured resources”, “indicated resources” and “inferred resources” are recognized and required by Canadian regulations, the US Securities and Exchange Commission does not recognize these terms. US investors are cautioned not to assume that any part or all of the material in these categories will ever be converted into reserves.

 

 


Ascendant Resources Strengthens Board With Appointment of New Director & Names Lead Independent Director

Ascendant Resources (TSXV:ASND) (“Ascendant” or the “Company“) (“Ascendant” or the “Company”)  is pleased to announce the appointment of Ms. Petra Decher, CPA, CA to the Company’s Board of Directors and Mr. Stephen Shefsky to the position of Lead Director of the Board effective October 1, 2017.

Ms. Decher served as the Vice President, Finance and Assistant Secretary for Franco-Nevada Corporation from 2009 to 2016. She currently serves as Chairwoman of the Board at Red Pine Exploration Inc. and recently served as the Lead Independent Director of Integra Gold Corp. until its acquisition by Eldorado Gold Corporation. Prior to Franco-Nevada, Ms. Decher was President and Chief Financial Officer for Geoinformatics Exploration Inc., an exploration company focused on projects in British Columbia, Nevada, Mexico and Australia.

Ms. Decher is a Chartered Public Accountant, and is assuming the role of Chairwoman of the Audit Committee effective immediately. She has a Bachelor of Commerce degree from Concordia University, Diploma in Accounting at McGill University and articled at Richter Usher Vineberg (now Richter) in Montréal, Québec.

Mr. Shefsky has served on the Board of Directors of Ascendant Resources Inc. (formerly Morumbi Resources Inc.) for more than 10 years. Mr. Shefsky’s legal background has served well through his career of more than 40 years’ experience in the investment and mining industry throughout Canada,  Latin America, and Africa. Mr. Shefsky is currently the President & CEO, Founder and Director of James Bay Resources Ltd. and his prior experience includes President & CEO of Verena Minerals Corp, now known as Belo Sun Mining Corp., Cancap Investments Ltd., and Brasoil do Brasil Exploracao Petrolifera S.A.

The Lead Director is a director independent of management and any controlling shareholder of the Company, appointed in circumstances where the Executive Chairman of the Board is not independent of management and any controlling shareholder. The primary responsibility of the Lead Director is to provide leadership for the independent directors and assist in managing any conflicts between the Company and any controlling shareholders.

Chris Buncic, President and CEO of Ascendant commented: “We are delighted to welcome Ms. Decher to the Board. Her thorough understanding of financial and public reporting and corporate governance will be a great asset to Ascendant moving forward as we continue to define a clear path to free cash flow. We are also grateful to have Mr. Shefsky step into the role of Lead Independent Director of Ascendant. His history with the Company, wealth of board and industry experience and legal background make him well suited to take on this role. We believe that these appointments further demonstrate the Company’s ongoing commitment to maintaining the highest standards of financial accountability and corporate governance.”

Mark Brennan, Executive Chairman of Ascendant commented: “On behalf of the entire Board, I am very pleased to welcome Ms. Decher to Ascendant’s Board of Directors and to have Mr. Shefsky assume the role of Lead Director. Ms. Decher’s diverse experience and financial expertise will complement our Board’s capabilities. These changes further poise the Company to continue to deliver operational excellence and long-term profitability.”

About Ascendant Resources

Ascendant Resources Inc. is a mining company focused on its producing zinc-lead-silver El Mochito Mine which has been in operation since 1948. Since acquiring the mine in December of 2016, Ascendant has increased throughput by more than 30%, has had success with its restarted exploration activities and has now achieved positive EBITDA as of July. With the price of zinc hitting a 10-year high, Ascendant is one of the few small cap pure play zinc producers benefitting from these improving zinc market fundamentals. For more information on Ascendant Resources, please visit our website at www.ascendantresources.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Chris Buncic
President & CEO
Tel: 888-723-7413
info@ascendantresources.com

Click here to connect with Ascendant Resources (TSXV:ASND) to receive an Investor Presentation.


Los Andes Announces Final Results of 2017 Drill Program at the Vizcachitas Deposit

Los Andes Copper Ltd. (TSXV:LA) i is very pleased to announce the results of drill holes V2017-08, V2017-09B, V2017-10 and V2017-11. Following the results already published for the 2017 campaign, these results provide support to the extension to the north of the current central core, with some of the highest grade intersections in the deposit being encountered in V2017-10, the northernmost hole of this campaign. Results also provide further support to the continuity of higher grade mineralization near surface in the project’s central core, over an area of 350 metres north-south by 400 metres east-west.

The key results from these holes are:

V2017-09B:

  • 77.6 m @ 0.52 % Cu, 153 ppm Mo and 1.3 g/t Ag (0.57 % CuEq) from 64.4 m downholeIncluding:

    22.0 m @ 0.60 % Cu, 248 ppm Mo and 1.4 g/t Ag (0.68 % CuEq) from 108.0 m downhole

V2017-10:

  • 506.0 m @ 0.57 % Cu, 357 ppm Mo and 1.1 g/t Ag (0.67 % CuEq) from 486.0 m downholeIncluding:

    76.0 m @ 0.69 % Cu, 522 ppm Mo and 1.5 g/t Ag (0.84 % CuEq) from 514.0 m downhole

    Including within, 30.0 m@ 0.95 % Cu, 337 ppm Mo and 1.6 g/t Ag (1.05 % CuEq) from 558.0 m downhole

    88.0 m @ 0.70 % Cu, 278 ppm Mo and 1.4 g/t Ag (0.78 % CuEq) from 684.0 m downhole

    60.0 m @ 0.73 % Cu, 341 ppm Mo and 1.5 g/t Ag (0.83 % CuEq) from 924.0 m downhole

    Including within, 22.0 m@ 0.94 % Cu, 392 ppm Mo and 1.5 g/t Ag (1.05 % CuEq) from 924.0 m downhole

Cautionary Statement: All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Background

Historical drilling was carried out on the Vizcachitas project in three exploration campaigns during 1993, 1996/1997 and 2007/2008. However, the higher grade central core had only been drilled in the 1990’s campaigns and with generally shallower drill holes, therefore not properly reflecting the potential of this core area.

During 2014, a complete review of the historical information was performed to better understand the project, including re-logging all of the 146 drill holes located within the property. The re-logging was led by Gonzalo Saldias, a Chilean geologist and one of the most recognized experts in Chilean porphyry systems. This detailed review showed that the historical logging and geological model had not properly identified the importance of the higher grade early diorite porphyry and hydrothermal breccias. The re-logging showed that these higher grade geological units extend over a distance of 1,400 metres north-south and 700 metres east-west. The mapping showed that these breccias have grades increasing with depth and demonstrates the potential for higher grades below the historical drilling.

In 2015, Los Andes began a drill program to confirm a new geological model and to demonstrate the extent of the central core mineralisation. A first stage of this exploration campaign was completed in 2015/2016, with eight diamond drill holes totaling 3,661 metres. During 2017, Los Andes has carried out a second stage of this campaign with the purpose of demonstrating the northern and southern extension of the high grade core.

Location of Drill Holes:

Hole Easting Northing Elevation
(metres)
Azimut
(degrees)
Inclination
(degrees)
Final depth
(metres)
V2017-01 365,778 6,413,544 2,003 110 -60 (69.90) Abandoned
V2017-01A 365,786 6,413,534 2,003 105 -60 851.25
V2017-02 366,278 6,413,255 2,090 290 -65 1,030.60
V2017-03 365,936 6,413,856 2,049 290 -80 (62.00) Abandoned
V2017-04 366.200 6,413,056 1,978 110 -70 653.00
V2015-08 Ex 365.159 6,413,542 2,154 290 -75 1,001.00
V2017-05 365,996 6,413,879 2,080 270 -80 931.90
V2017-06 366,037 6,413,538 2,073 110 -65 857.00
V2017-07 366,099 6,413,337 2,046 110 -60 721.10
V2017-08 365,996 6,413,879 2,080 15 -70 400.25
V2017-09 365,785 6,413,377 1,993 120 -70 (85.50) Abandoned
V2017-09B 365,785 6,413,382 1,993 120 -75 804.20
V2017-10 365,682 6,413,878 2,040 65 -75 1,001.00
V2017-11 365,745 6,413,745 2,024 85 -75 735.90

 

All coordinates are in UTM WGS84

A drill hole location plan is available on our website: www.losandescopper.com

Summary of Drill Holes

Drill Hole V2017-08

V2017-08 was drilled in a northerly direction from the same platform as V2017‑05. The aim of the drill hole was to test the covered area between the two outcropping un-mineralised diatreme breccias. The hole was speculative in that there are no nearby drill holes and no outcrop. If the drill hole showed that there was mineralised material between these two outcrops, this would have opened up a large area to the west. In the end, the hole encountered only diatreme indicating that the two outcrops are connected at depth.

Drill Hole V2017-09B

V2017-09B was drilled in a south-east direction from the same platform as the drill hole V2015-02. The hole was designed to test the southern extension of the mineralisation identified in drill holes V2015-03 and V2015-05. The top of bedrock was at a depth of 64.4 metres, where a sequence of andesites and hornfels continued to a depth of 570.9 metres. The drill hole then entered a tonalite until the end of the hole at a depth of 804.2 metres. From the top of bedrock, at a depth of 64.4 metres, the drill hole intersected 77.6 m @ 0.52 % Cu, 153 ppm Mo and 1.3 g/t Ag (0.57 % CuEq). This intersection demonstrates the southern continuity of the good supergene mineralisation identified in the drill holes to the north and further extends it to the south.

Key intersections from drill hole V2017-09B:

Hole Number Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t CuEq %
V2017-09B 64.4 142.0 77.6 0.52 153 1.3 0.57
including 108.0 130.0 22.0 0.60 248 1.4 0.68
V2017-09B 228.0 278.0 50.0 0.47 265 1.3 0.55

 

Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Drill Hole V201710

V2017-10 was drilled in a north-east direction to check the northern extension of the mineralisation that had been identified in the drill hole V2017-05. The top of bedrock was intersected at a depth of 50.5 metres. The drill hole cut a sequence of fine and medium grained diorites and occasional hydrothermal breccias to a depth of 486 metres. From a depth of 486 metres, the drill hole entered a long sequence of hydrothermal breccias, with 506 m @ 0.57 % Cu, 357 ppm Mo and 1.1 g/t Ag (0.67 % CuEq). Within this run there some higher grade sections with 30 m @ 0.95 % Cu, 337 ppm Mo and 1.6 g/t Ag (1.05 % CuEq) from 558 metre downhole and also 88 m @ 0.70 % Cu, 278 ppm Mo and 1.4 g/t Ag (0.78 % CuEq) from 684 metre downhole.

The grades improve with depth as the chalcopyrite-pyrite ratio increases and, from a depth of 920 metres, bornite was identified in drill hole with up to 20 percent of the sulphides being bornite. This mineralisation shows the potential for the grade to increase with depth.

This good mineralisation is open to the north. This drill hole and V2017-05 have transformed the northern part of the project, with high grade mineralisation within the hydrothermal breccias and the early diorite porphyry. In the 2014 PEA, this area was classified as waste.

Key intersections from drill hole V2017-10:

Hole Number Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t CuEq %
V2017-10 486.0 992.0 506.0 0.57 357 1.1 0.67
including 514.0 590.0 76.0 0.69 522 1.5 0.84
inc. within 558.0 588.0 30.0 0.95 337 1.6 1.05
including 622.0 644.0 22.0 0.64 790 1.6 0.85
including 684.0 772.0 88.0 0.70 278 1.4 0.78
inc. within 688.0 726.0 38.0 0.80 338 1.5 0.90
including 882.0 902.0 20.0 0.65 766 0.8 0.85
including 924.0 984.0 60.0 0.73 341 1.5 0.83
inc. within 924.0 946.0 22.0 0.94 392 1.5 1.05

 

Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Drill Hole V201711

V2017-11 was drilled 150 metres to the south of V2017-10, to find the southern extension of the mineralisation identified in drill holes: V2017-05 and V2017-10. This hole was also intended to check the northern extensions of the mineralisation identified in V2015-01 and V2015-08. The top of bedrock was intersected at a depth of 86 metres in a fine grained diorite which continued to a depth of 632 metres. Within this run there some higher grade sections with 26 m @ 0.55 % Cu, 253 ppm Mo and 1.2 g/t Ag (0.63 % CuEq) from 488.0 metre downhole. From a depth of 600 metres, bornite mineralisation was identified with up to 10 percent of the sulphides being bornite. The bornite mineralisation, like in drill hole V2017-10, demonstrates the potential for increasing grades with depth. From a depth of 632 metres, the drill hole entered a post mineral dacite dyke and diatreme.

Key intersections from drill hole V2017-11:

Hole Number Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t CuEq %
V2017-11 440.0 458.0 18.0 0.46 307 0.9 0.55
V2017-11 488.0 514.0 26.0 0.55 253 1.2 0.63
V2017-11 554.0 576.0 22.0 0.48 307 1.1 0.57

 

Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

QA/QC

Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples in to the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped directly to the preparatory laboratory of ALS Minerals in Coquimbo, Chile. All geochemical analyses were performed by ALS Minerals in Lima Peru. All samples were assayed using the method ME-MS61, a four-acid digestion with an ICP-MS finish. Copper samples with grades above 0.6 % Cu were reanalysed using ALS method Cu-OG62, a four-acid digestion with an AAS finish.

Mr. Amberg MSc CGeol FGS is the Qualified Person responsible for the preparation of this news release.

Team Credentials

Mr. Amberg MSc CGeol FGS is a geologist who is a graduate of the Royal School of Mines, London, has an MSc. from University College and is also a Chartered Geologist with the Geological Society of London. He has close to 30 years of diverse experience having worked in Asia, Africa and South America for both multinational and junior companies. He began his career in 1986 working with Anglo American in South Africa before moving on to an exploration position with Severin-Southern Sphere. In 1990 Mr. Amberg moved to Chile where he first worked with Bema Gold on the Refugio project before taking up a position with Rio Tinto. At Rio Tinto he was involved in exploration programs in the Atacama and Magallanes Regions and managed the Barreal Seco (now part of Las Cenizas) exploration program. In 1996 he joined Kazakhstan Minerals Corporation in Kazakhstan, setting up and managing offices for the drilling and resource estimation for JORC compliant feasibility studies on three large projects that are now operating mines. He became General Director for two joint ventures in KazMinCo where he managed all technical and local issues. In 2001 he returned to Chile where he started a geological consulting firm specialising in project evaluation and NI 43-101 technical reports. Mr. Amberg’s clients included Rio Tinto, Barrick, Codelco, Anglo American, Pan Pacific Copper and various junior mining companies. He joined Los Andes Copper in 2012 as Chief Geologist and is now also the President and Chief Executive Officer.

Mr. Amberg MSc CGeol FGS is a Qualified Person under NI 43-101.

Gonzalo Saldias is a geologist who is a graduate of Universidad Católica del Norte, Chile. He has over 35 years of experience working within Chile and internationally; mainly on copper porphyry, epithermal gold silver and iron-oxide copper gold systems. For the last seven years, he worked for Antofagasta Minerals evaluating copper porphyry projects within Chile, assessing their geological and economical potential. Prior to that he had worked for ten years with Placer Dome Latin America, generating and evaluating exploration projects within the region. Prior to Placer Dome, he worked for Codelco as head of exploration geology for the El Salvador Division, developing the prospective areas near to the mine. He also worked for Northern Resources, Homestake, Utah, Anaconda and as an independent consultant.

For more information please contact:

Antony J. Amberg, President & CEO
Tel: +56 2 2954-0450

Aurora Davidson, CFO
Tel: 604-697-6207

E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com

Certain of the information and statements contained herein that are not historical facts, constitute “forward-looking information” within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) (“Forward-Looking Information”). Forward-Looking Information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend”; statements that an event or result is “due” on or “may”, “will”, “should”, “could”, or might” occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, the achievement and maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in the Chilean economy, military unrest or terrorist actions, metal and energy price fluctuations, favourable governmental relations, the availability of financing for activities when required and on acceptable terms, the estimation of mineral resources and reserves, current and future environmental and regulatory requirements, the availability and timely receipt of permits, approvals and licenses, industrial or environmental accidents, equipment breakdowns, availability of and competition for future acquisition opportunities, availability and cost of insurance, labour disputes, land claims, the inherent uncertainty of production and cost estimates, currency fluctuations, expectations and beliefs of management and other risks and uncertainties, including those described in Management’s Discussion and Analysis in the Company’s financial statements. Such Forward-Looking Information is based upon the Company’s assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company’s production. Among the factors that have a direct bearing on the Company’s future results of operations and financial conditions are changes in project parametres as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Click here to connect with Los Andes Copper Ltd. (TSXV:LA) to receive an Investor Presentation.


Los Andes Announces Fourth Results of 2017 Drill Program at the Vizcachitas Deposit

Los Andes Copper Ltd. (TSXV:LA) is very pleased to announce the results of drill holes V2017-06 and V2017-07. Following the results already published for the 2017 campaign, these results provide further support to the continuity of higher grade mineralization near surface in the project’s central core over an area of 350 metres north-south by 400 metres east-west.

The key results from these holes are:

V2017-06:

  • 440.0 m @ 0.51 % Cu, 164 ppm Mo and 1.1 g/t Ag (0.56 % CuEq) from 64.0 m downhole

    Including:

    56.0 m @ 0.81 % Cu, 72 ppm Mo and 1.6 g/t Ag (0.85 % CuEq) from 76.0 m downhole

    30.0 m @ 0.64 % Cu, 292 ppm Mo and 1.5 g/t Ag (0.73 % CuEq) from 376.0 m downhole

    36.0 m @ 0.62 % Cu, 265 ppm Mo and 1.4 g/t Ag (0.70 % CuEq) from 456.0 m downhole

  • 66.0 m @ 0.53 % Cu, 294 ppm Mo and 1.1 g/t Ag (0.61 % CuEq) from 588.0 m downhole
  • V2017-07:102.0 m @ 0.62 % Cu, 157 ppm Mo and 1.5 g/t Ag (0.66 % CuEq) from 44.0 m downhole
  • 28.0 m @ 0.50 % Cu, 232 ppm Mo and 1.3 g/t Ag (0.57 % CuEq) from 284.0 m downhole

Cautionary Statement: All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Background

Historical drilling was carried out on the Vizcachitas project in three exploration campaigns during 1993, 1996/1997 and 2007/2008. However, the higher grade central core had only been drilled in the 1990’s campaigns and with generally shallower drill holes, therefore not properly reflecting the potential of this core area.

During 2014, a complete review of the historical information was performed to better understand the project, including re-logging all of the 146 drill holes located within the property. The re-logging was led by Gonzalo Saldias, a Chilean geologist and one of the most recognized experts in Chilean porphyry systems. This detailed review showed that the historical logging and geological model had not properly identified the importance of the higher grade early diorite porphyry and hydrothermal breccias. The re-logging showed that these higher grade geological units extend over a distance of 1,400 metres north-south and 700 metres east-west. The mapping showed that these breccias have grades increasing with depth and demonstrates the potential for higher grades below the historical drilling.

In 2015, Los Andes began a drill program to confirm a new geological model and to demonstrate the extent of the central core mineralisation. A first stage of this exploration campaign was completed in 2015/2016, with eight diamond drill holes totaling 3,661 metres. During 2017, Los Andes has carried out a second stage of this campaign with the purpose of demonstrating the northern and southern extension of the high grade core.

Location of Drill Holes:

Hole Easting Northing Elevation
(metres)
Azimut
(degrees)
Inclination
(degrees)
Final depth
(metres)
V2017-01 365,778 6,413,544 2,003 110 -60 (69.90) Abandoned
V2017-01A 365,786 6,413,534 2,003 105 -60 851.25
V2017-02 366,278 6,413,255 2,090 290 -65 1,030.60
V2017-03 365,936 6,413,856 2,049 290 -80 (62.00) Abandoned
V2017-04 366.200 6,413,056 1,978 110 -70 653.00
V2015-08 Ex 365.159 6,413,542 2,154 290 -75 1,001.00
V2017-05 365,996 6,413,879 2,080 270 -80 931.90
V2017-06 366,037 6,413,538 2,073 110 -65 857.00
V2017-07 366,099 6,413,337 2,046 110 -60 721.10
V2017-08 365,996 6,413,879 2,080 15 -70 400.25
V2017-09 365,785 6,413,377 1,993 120 -70 (85.50) Abandoned
V2017-09B 365,785 6,413,382 1,993 120 -75 804.20
V2017-10 365,682 6,413,878 2,040 65 -75 1,001.00
V2017-11 365,745 6,413,745 2,024 85 -75 735.90

 

All coordinates are in UTM WGS84

A drill hole location plan is available on our website: www.losandescopper.com

Summary of Drill Holes

Drill Hole V2017-06

V2017-06 was drilled in a south east direction underneath the drill holes V2015‑08 which was drilled in a north-easterly direction. The aim of the drill hole was to confirm the good mineralisation identified in this drill hole and then to test the eastward extension of this mineralisation.

The top of bedrock was intersected at a depth of 15 metres and the drill hole continued through andesite and hydrothermal breccias to a depth of 802 metres when it intersected a tonalitic intrusive. The drill hole was stopped at a depth of 857.0 metres. From a downhole depth of 64 metres, the drill hole intersected 440 metre @ 0.51 % Cu, 164 ppm Mo and 1.1 g/t Ag (0.56 % CuEq) in andesites. This includes from a downhole depth of 76 metres, 56 metres @ 0.81 % Cu, 72 ppm Mo and 1.6 g/t Ag (0.85 % CuEq). This intersection confirms the near surface mineralisation identified within this eastern block. The mineralisation continues until the drill hole intersected the intermineral tonalite intrusive at a depth of 802 metres. Some of the better mineralisation is shown in the table below.

Key intersections from drill hole V2017-06:

Hole Number Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t CuEq %
V2017-06 64.0 504.0 440.0 0.51 164 1.1 0.56
including 76.0 132.0 56.0 0.81 72 1.6 0.85
including 182.0 204.0 22.0 0.63 129 1.5 0.68
including 238.0 258.0 20.0 0.59 280 1.4 0.68
including 376.0 406.0 30.0 0.64 292 1.5 0.73
including 456.0 492.0 36.0 0.62 265 1.4 0.70
V2017-06 588.0 654.0 66.0 0.53 294 1.1 0.61
including 606.0 634.0 28.0 0.61 219 1.3 0.68

 

Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Drill Hole V2017-07

V2017-07 was drilled in a south east direction underneath the drill holes V2015‑05 and V2017-02 which were drilled in a north-easterly direction. The aim of the drill hole was to confirm the good mineralisation identified in these drill holes and then to test the eastward extension of this mineralisation.

The top of bedrock was intersected at a depth of 33 metre and the drill hole continued through andesite and hydrothermal breccias to final depth of 721 metres. From a downhole depth of 44 metres, the drill hole intersected 102 metres @ 0.62 % Cu, 157 ppm Mo and 1.5 g/t Ag (0.66 % CuEq) in andesites. This intersection further confirms the horizontal extension of the near surface supergene mineralisation over an area of 350 metres north-south by 400 metres east-west within this block. The mineralisation continues to a downhole depth of 344 metros with an average grade over 300 metres of 0.48 % Cu, 135 ppm Mo and 1.2 g/t Ag (0.53 % CuEq). The mineralisation below this depth decreases as the drill hole intersected andesites and a post mineral dacite dyke.

Key intersections from drill hole V2017-07:

Hole Number Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t CuEq %
V2017-07 44.0 146.0 102.0 0.62 157 1.5 0.66
V2017-07 284.0 312.0 28.0 0.50 232 1.3 0.57
V2017-07 394.0 412.0 18.0 0.49 105 1.4 0.53

 

Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

QA/QC

Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples in to the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped directly to the preparatory laboratory of ALS Minerals in Coquimbo, Chile. All geochemical analyses were performed by ALS Minerals in Lima Peru. All samples were assayed using the method ME-MS61, a four-acid digestion with an ICP-MS finish. Copper samples with grades above 0.6 % Cu were reanalysed using ALS method Cu-OG62, a four-acid digestion with an AAS finish.

Mr. Amberg MSc CGeol FGS is the Qualified Person responsible for the preparation of this news release.

Team Credentials

Mr. Amberg MSc CGeol FGS is a geologist who is a graduate of the Royal School of Mines, London, has an MSc. from University College and is also a Chartered Geologist with the Geological Society of London. He has close to 30 years of diverse experience having worked in Asia, Africa and South America for both multinational and junior companies. He began his career in 1986 working with Anglo American in South Africa before moving on to an exploration position with Severin-Southern Sphere. In 1990 Mr. Amberg moved to Chile where he first worked with Bema Gold on the Refugio project before taking up a position with Rio Tinto. At Rio Tinto he was involved in exploration programs in the Atacama and Magallanes Regions and managed the Barreal Seco (now part of Las Cenizas) exploration program. In 1996 he joined Kazakhstan Minerals Corporation in Kazakhstan, setting up and managing offices for the drilling and resource estimation for JORC compliant feasibility studies on three large projects that are now operating mines. He became General Director for two joint ventures in KazMinCo where he managed all technical and local issues. In 2001 he returned to Chile where he started a geological consulting firm specialising in project evaluation and NI 43-101 technical reports. Mr. Amberg’s clients included Rio Tinto, Barrick, Codelco, Anglo American, Pan Pacific Copper and various junior mining companies. He joined Los Andes Copper in 2012 as Chief Geologist and is now also the President and Chief Executive Officer.

Mr. Amberg MSc CGeol FGS is a Qualified Person under NI 43-101.

Gonzalo Saldias is a geologist who is a graduate of Universidad Católica del Norte, Chile. He has over 35 years of experience working within Chile and internationally; mainly on copper porphyry, epithermal gold silver and iron-oxide copper gold systems. For the last seven years, he worked for Antofagasta Minerals evaluating copper porphyry projects within Chile, assessing their geological and economical potential. Prior to that he had worked for ten years with Placer Dome Latin America, generating and evaluating exploration projects within the region. Prior to Placer Dome, he worked for Codelco as head of exploration geology for the El Salvador Division, developing the prospective areas near to the mine. He also worked for Northern Resources, Homestake, Utah, Anaconda and as an independent consultant.

For more information please contact:

Antony J. Amberg, President & CEO
Tel: +56 2 2954-0450

Aurora Davidson, CFO
Tel: 604-697-6207

E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com

Certain of the information and statements contained herein that are not historical facts, constitute “forward-looking information” within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) (“Forward-Looking Information”). Forward-Looking Information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend”; statements that an event or result is “due” on or “may”, “will”, “should”, “could”, or might” occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, the achievement and maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in the Chilean economy, military unrest or terrorist actions, metal and energy price fluctuations, favourable governmental relations, the availability of financing for activities when required and on acceptable terms, the estimation of mineral resources and reserves, current and future environmental and regulatory requirements, the availability and timely receipt of permits, approvals and licenses, industrial or environmental accidents, equipment breakdowns, availability of and competition for future acquisition opportunities, availability and cost of insurance, labour disputes, land claims, the inherent uncertainty of production and cost estimates, currency fluctuations, expectations and beliefs of management and other risks and uncertainties, including those described in Management’s Discussion and Analysis in the Company’s financial statements. Such Forward-Looking Information is based upon the Company’s assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company’s production. Among the factors that have a direct bearing on the Company’s future results of operations and financial conditions are changes in project parametres as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Click here to connect with Los Andes Copper Ltd. (TSXV:LA) to receive an Investor Presentation.


Los Andes Announces Third Results of 2017 Drill Program at the Vizcachitas Deposit

Los Andes Copper Ltd. (TSXV:LA) is very pleased to announce the results of drill holes V2017-04, V2015-08Ex (extension of last year’s V2015-08) and V2017-05. Following the results already published for the 2017 campaign, these results not only further support the presence of higher grade mineralization in the project’s central core, but extend presence of high grade mineralization to the north of the existing central core, to areas categorized as either waste or low grade in the old geological model.

The key results from these holes are:

V2017-04:

  • 90.0 m @ 0.51 % Cu, 127 ppm Mo and 1.6 g/t Ag (0.56 % CuEq) from 92.0 m downhole

    Including:

    30.0 m @ 0.60 % Cu, 121 ppm Mo and 1.8 g/t Ag (0.65 % CuEq) from 142.0 m downhole

V2015-08Ex: (from last year’s bottom of 725.5 metres)

  • 26.0 m @ 0.50 % Cu, 441 ppm Mo and 1.1 g/t Ag (0.62 % CuEq) from 804.0 m downhole
  • 28.0 m @ 0.53 % Cu, 361 ppm Mo and 1.0 g/t Ag (0.64 % CuEq) from 946.0 m downhole

V2017-05:

  • 28.0 m @ 0.55 % Cu, 234 ppm Mo and 0.9 g/t Ag (0.62 % CuEq) from 170.0 m downhole
  • 48.0 m @ 0.55 % Cu, 248 ppm Mo and 1.1 g/t Ag (0.63 % CuEq) from 212.0 m downhole
  • 18.0 m @ 0.53 % Cu, 151 ppm Mo and 1.2 g/t Ag (0.58 % CuEq) from 286.0 m downhole
  • 22.0 m @ 0.53 % Cu, 179 ppm Mo and 1.4 g/t Ag (0.59 % CuEq) from 368.0 m downhole
  • 80.0 m @ 0.53 % Cu, 285 ppm Mo and 1.9 g/t Ag (0.63 % CuEq) from 798.0 m downhole

    Including:

    36.0 m @ 0.59 % Cu, 183 ppm Mo and 2.1 g/t Ag (0.66 % CuEq) from 840.0 m downhole

Cautionary Statement: All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Background

Historical drilling was carried out on the Vizcachitas project in three exploration campaigns during 1993, 1996/1997 and 2007/2008. However, the higher grade central core had only been drilled in the 1990’s campaigns and with generally shallower drill holes, therefore not properly reflecting the potential of this core area.

During 2014, a complete review of the historical information was performed to better understand the project, including re-logging all of the 146 drill holes located within the property. The re-logging was led by Gonzalo Saldias, a Chilean geologist and one of the most recognized experts in Chilean porphyry systems. This detailed review showed that the historical logging and geological model had not properly identified the importance of the higher grade early diorite porphyry and hydrothermal breccias. The re-logging showed that these higher grade geological units extend over a distance of 1,400 metres north-south and 700 metres east-west. The mapping showed that these breccias have grades increasing with depth and demonstrates the potential for higher grades below the historical drilling.

In 2015, Los Andes began a drill program to confirm a new geological model and to demonstrate the extent of the central core mineralisation. A first stage of this exploration campaign was completed in 2015/2016, with eight diamond drill holes totaling 3,661 metres. During 2017, Los Andes has carried out a second stage of this campaign with the purpose of demonstrating the northern and southern extension of the high grade core.

Location of Drill Holes:

Hole Easting Northing Elevation
(metres)
Azimut
(degrees)
Inclination
(degrees)
Final depth
(metres)
V2017-01 365,778 6,413,544 2,003 110 -60 (69.90) Abandoned
V2017-01A 365,786 6,413,534 2,003 105 -60 851.25
V2017-02 366,278 6,413,255 2,090 290 -65 1,030.60
V2017-03 365,936 6,413,856 2,049 290 -80 (62.00) Abandoned
V2017-04 366.200 6,413,056 1,978 110 -70 653.00
V2015-08 Ex 365.159 6,413,542 2,154 290 -75 1,001.00
V2017-05 365,996 6,413,879 2,080 270 -80 931.90
V2017-06 366,037 6,413,538 2,073 110 -65 857.00
V2017-07 366,099 6,413,337 2,046 110 -60 721.10
V2017-08 365,996 6,413,879 2,080 15 -70 400.25
V2017-09 365,785 6,413,377 1,993 120 -70 (85.50) Abandoned
V2017-09B 365,785 6,413,382 1,993 120 -75 804.20
V2017-10 365,682 6,413,878 2,040 65 -75 1,001.00
V2017-11 365,745 6,413,745 2,024 85 -75 735.90

All coordinates are in UTM WGS84

A drill hole location plan is available on our website: www.losandescopper.com

Summary of Drill Holes

Drill Hole V2017-04

This hole was drilled 200 metres to the south of drill hole V2017-02 in a south-east direction. The drill hole was planned to test the vertical extension of the hydrothermal breccias identified in the drill holes to the east. The top of bed rock was intersected at a depth of 77 metres and a sequence of andesites with hydrothermal and igneous breccias was intersected down to a depth of 329 metres. From a downhole depth of 92 metres, the drill hole intersected 90 metre @ 0.51 % Cu, 127 ppm Mo and 1.6 g/t Ag (0.56 % CuEq) and from a downhole depth of 142 metres, the drill hole intersected 30 metre @ 0.60 % Cu, 121 ppm Mo and 1.8 g/t Ag (0.65 % CuEq). These intersections support the new geological model demonstrating the continuity of the higher grade associated with the hydrothermal breccias near surface.

From a depth of 329 metres, this drill hole intersected a long sequence of intermineral lower grade granodiorite until the end of the hole at a depth of 653 metres. The drill hole did not intersect the andesite host rock as expected, demonstrating that the intrusive system is open to the east at this point.

Key intersections from drill hole V2017-04:

Hole Number Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t CuEq %
V2017-04 92.0 182.0 90.0 0.51 127 1.6 0.56
including 142.0 172.0 30.0 0.60 121 1.8 0.65
V2017-04 198.0 216.0 18.0 0.48 75 1.7 0.52

Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Drill Hole V2015-08Ex

The drill hole V2015-08 was drilled to a depth of 725.5 metres during the 2015/2016 drill campaign but was stopped at this depth due to budget restrictions. The casing was left in the hole so during this campaign we were able to re-enter the hole and extend it. The hydrothermal breccia that was intersected in 2016 at a depth of 712 metres continued through to a depth of 745 metres. From a depth of 745 metres to the end of the drill hole at a depth of 1,001 metres, the drill hole intersected a long sequence of the target early diorite porphyry. This included from a downhole depth of 804 metres, 26 metre @ 0.50 % Cu, 441 ppm Mo and 1.1 g/t Ag (0.62 % CuEq) and, from a downhole depth of 946 metres, 28 metre @ 0.53 % Cu, 361 ppm Mo and 1.0 g/t Ag (0.64 % CuEq). The results of this drill hole support the geological model showing the well mineralised early diorite porphyry over a long sequence in the core of the project.

Key intersections from drill hole V2015-08Ex:

Hole Number Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t CuEq %
V2015-08Ex 804.0 830.0 26.0 0.50 441 1.1 0.62
V2015-08Ex 910.0 940.0 30.0 0.45 423 1.0 0.56
V2015-08Ex 946.0 974.0 28.0 0.53 361 1.0 0.64

Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Drill Hole V2017-05

The drill hole V2017-05 was drilled in the northern part of the project in a westerly direction. The aim of the hole was to drill from the unmineralised diatreme out towards the early diorite porphyry that had been intersected in drill hole V-39 back in the 1990s. The re-interpretation of the drill hole V-39 with the well mineralised intersection of the early diorite porphyry was key to identifying the extension to the north of higher grade mineralization.

The drill hole intersected, from a depth of 60 metres, a sequence of unmineralised diatreme and post mineral dacite dykes to a downhole depth of 169 metres. From a downhole depth of 170 metres, the drill hole intersected the early diorite porphyry with 28 metre @ 0.55 % Cu, 234 ppm Mo and 0.9 g/t Ag (0.62 % CuEq).

From a depth of 198 metres, a sequence of early diorite porphyry, fine diorite and medium grain diorites extends to a downhole depth of 377 metres. Within this sequence, the drill hole intersected 48 metre @ 0.55 % Cu, 248 ppm Mo and 1.1 g/t Ag (0.63 % CuEq) from a downhole depth of 212 metre and 18 metre @ 0.53 % Cu, 151 ppm Mo and 1.2 g/t Ag (0.58 % CuEq) from a downhole depth of 286 metre.

From a depth of 377 metres to depth of 658 metres, the drill hole intersected a hydrothermal breccia and then, from 658 metres to 904 metres, the hole intersected medium grained dirorites and igneous breccias. This is the first intersection of hydrothermal breccias this far north in the project. From 904 metres to the end of the drill hole at 931.9 metres, the drill hole intersected an intermineral tonalite intrusive. This sequence included 80 metre @ 0.53 % Cu, 285 ppm Mo and 1.9 g/t Ag (0.63 % CuEq) from a downhole depth of 798 metre .

These intersections of the well mineralised hydrothermal breccias and early diorite porphyry support the northern extension of the well mineralised central core. In the 2014 block model, this northern area was interpreted as either waste or low grade material.

Key intersections from drill hole V2017-05:

Hole Number Depth From (m) Depth To (m) Length (m) Cu % Mo ppm Ag g/t CuEq %
V2017-05 170.0 198.0 28.0 0.55 234 0.9 0.62
V2017-05 212.0 260.0 48.0 0.55 248 1.1 0.63
V2017-05 286.0 304.0 18.0 0.53 151 1.2 0.58
V2017-05 368.0 390.0 22.0 0.53 179 1.4 0.59
V2017-05 660.0 704.0 44.0 0.49 192 1.1 0.55
V201705 798.0 878.0 80.0 0.53 285 1.9 0.63
including 840.0 876.0 36.0 0.59 183 2.1 0.66

Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

QA/QC

Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples in to the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped directly to the preparatory laboratory of ALS Minerals in Coquimbo, Chile. All geochemical analyses were performed by ALS Minerals in Lima Peru. All samples were assayed using the method ME-MS61, a four-acid digestion with an ICP-MS finish. Copper samples with grades above 0.6 % Cu were reanalysed using ALS method Cu-OG62, a four-acid digestion with an AAS finish.

Mr. Amberg MSc CGeol FGS is the Qualified Person responsible for the preparation of this news release.

Team Credentials

Mr. Amberg MSc CGeol FGS is a geologist who is a graduate of the Royal School of Mines, London, has an MSc. from University College and is also a Chartered Geologist with the Geological Society of London. He has close to 30 years of diverse experience having worked in Asia, Africa and South America for both multinational and junior companies. He began his career in 1986 working with Anglo American in South Africa before moving on to an exploration position with Severin-Southern Sphere. In 1990 Mr. Amberg moved to Chile where he first worked with Bema Gold on the Refugio project before taking up a position with Rio Tinto. At Rio Tinto he was involved in exploration programs in the Atacama and Magallanes Regions and managed the Barreal Seco (now part of Las Cenizas) exploration program. In 1996 he joined Kazakhstan Minerals Corporation in Kazakhstan, setting up and managing offices for the drilling and resource estimation for JORC compliant feasibility studies on three large projects that are now operating mines. He became General Director for two joint ventures in KazMinCo where he managed all technical and local issues. In 2001 he returned to Chile where he started a geological consulting firm specialising in project evaluation and NI 43-101 technical reports. Mr. Amberg’s clients included Rio Tinto, Barrick, Codelco, Anglo American, Pan Pacific Copper and various junior mining companies. He joined Los Andes Copper in 2012 as Chief Geologist and is now also the President and Chief Executive Officer.

Mr. Amberg MSc CGeol FGS is a Qualified Person under NI 43-101.

Gonzalo Saldias is a geologist who is a graduate of Universidad Católica del Norte, Chile. He has over 35 years of experience working within Chile and internationally; mainly on copper porphyry, epithermal gold silver and iron-oxide copper gold systems. For the last seven years, he worked for Antofagasta Minerals evaluating copper porphyry projects within Chile, assessing their geological and economical potential. Prior to that he had worked for ten years with Placer Dome Latin America, generating and evaluating exploration projects within the region. Prior to Placer Dome, he worked for Codelco as head of exploration geology for the El Salvador Division, developing the prospective areas near to the mine. He also worked for Northern Resources, Homestake, Utah, Anaconda and as an independent consultant.

For more information please contact:

Antony J. Amberg, President & CEO
Tel: +56 2 2954-0450

Aurora Davidson, CFO
Tel: 604-697-6207

E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com

Certain of the information and statements contained herein that are not historical facts, constitute “forward-looking information” within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) (“Forward-Looking Information”). Forward-Looking Information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend”; statements that an event or result is “due” on or “may”, “will”, “should”, “could”, or might” occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, the achievement and maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in the Chilean economy, military unrest or terrorist actions, metal and energy price fluctuations, favourable governmental relations, the availability of financing for activities when required and on acceptable terms, the estimation of mineral resources and reserves, current and future environmental and regulatory requirements, the availability and timely receipt of permits, approvals and licenses, industrial or environmental accidents, equipment breakdowns, availability of and competition for future acquisition opportunities, availability and cost of insurance, labour disputes, land claims, the inherent uncertainty of production and cost estimates, currency fluctuations, expectations and beliefs of management and other risks and uncertainties, including those described in Management’s Discussion and Analysis in the Company’s financial statements. Such Forward-Looking Information is based upon the Company’s assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company’s production. Among the factors that have a direct bearing on the Company’s future results of operations and financial conditions are changes in project parametres as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Click here to connect with Los Andes Copper Ltd. (TSXV:LA) to receive an Investor Presentation.


Zinc One

This profile is part of an investor education campaign. The profile provides detailed information which was sourced and approved by Zinc One Resources in order to help investors make better investment decisions. The Company’s support of Investing News Network ensures we can continue to bring you unbiased, independent news and information.

Resource Investing News Featured Stock

zinc-one-logo

Zinc One—High-Grade Zinc Oxide Projects in Peru

Overview

Zinc One Resources Inc. (TSXV:Z, FSE:RH33, OTC:ZZOF) is a mineral exploration and development company focused on acquiring, exploring and developing zinc projects in strong mining jurisdictions. Zinc One’s key assets are the past-producing Bongará Zinc Mine and the neighboring Charlotte Bongará Zinc-Oxide Project, both situated in the mining-friendly jurisdiction of Peru. The company is focused on achieving near term cash flow from the Bongará Mine and advancing the Charlotte Bongará project while acquiring other advanced zinc assets.

The Bongará Zinc Mine is counted among the world’s highest grade zinc deposits. The mine was in production from 2007 to 2008, but shut down due to the global financial crisis and the resulting decrease in the zinc price. Bongará produced zinc grades greater than 20 percent, from at or near surface, and recoveries over 90 percent. The Charlotte Bongará Project has excellent exploration potential with multiple near-surface, high-grade drill intercepts of zinc oxides.

Zinc One’s recent acquisition of both projects marks the first time that these two properties have been controlled by a single operator. Zinc One’s unilateral control means that the area’s resource can finally be properly delineated. The company has access to extensive data and technical work for each, dating back as far as the 1990s. “There has been a significant amount of exploration conducted on both projects, so we’re confident in the metallurgy,” said James Walchuck, the company’s CEO and President.

This past data should expedite the path to production, with Zinc One planning to achieve this goal in 2020. In July 2017, the company reached a significant milestone with the signing of the surface access agreement with the Yambrasbamba community. With the agreement now in place, Zinc One can begin updating the environmental baseline study the company needs to complete in order to submit the Environmental Impact Assessment for further drill permits.

Zinc One is already cleared to drill some 400 holes. That drilling is scheduled to commence by August 2017. The results will be used to produce an updated resource estimate by the end of 2017, followed by a planned Preliminary Economic Assessment in 2018.

Zinc One foresees ample blue sky potential in the region as well, thanks to past drill results. Management is confident that updated data will increase the Bongará Zinc Mine’s already impressive historic resource estimate and is looking to explore the mine’s Campo Cielo region, where more high grade zinc oxide mineralization has been discovered. There is also the opportunity to drill deeper and reach the region’s zinc sulphide deposits.

At the Charlotte Bongará Project, further exploration will delineate the high grade zinc oxide mineralization present on surface. Numerous other potential targets extend for four kilometres in the area. This suggests Zinc One is peering down a well-stocked pipeline.

Investment Highlights

  • Among a select few new zinc companies with near-term production potential.
  • Mine’s past production record shows a greater than 90 percent recovery rate.
  • Key assets include some of the highest grade zinc deposits in the world.
  • Exceptionally high-grade, on surface resource amenable to simple open pit mining methods, minimizing operational cost.
  • Access to past data and exploration records expected to expedite the permitting process.
  • Charlotte Bongará Project and other potential targets add up to strong blue sky potential.
  • Experienced management team has 100 plus years moving mining projects into production.
  • Deposits are located in Peru, historically an attractive mining jurisdiction.
  • Closed $2 million financing in December 2016 and $10 million financing in May 2017.

Well-situated in friendly mining jurisdiction

Both the Bongará projects are located in Peru, an advantageous geographical positioning that lowers their risk profile. Peru is a well-established and attractive mining jurisdiction, with permitting regulations similar to Canada’s own. The community here is receptive to mining projects, which create local jobs and improve infrastructure. Reclamation and remediation efforts in the past have left positive associations and laid the groundwork for a fruitful, mutually-beneficial relationship going forward.

Key Asset: The Bongará Zinc Mine

The Bongará Zinc Mine encompasses 8,000 hectares, with high grade zinc oxide mineralization appearing over 1.2 kilometers. The mine has delivered value before: its former operator mined 148,000 tonnes of zinc here between 2007 and 2008, almost 50,000 tonnes more than they anticipated. The disparity between the previous operator’s expectations and actual production has left Zinc One confident that the current historical resource estimate undervalues the mine.

zinc-one-deck-map

 

Historic resource estimate likely to increase

Currently, that estimate sits at about 1.2 million tonnes at a grade of 21 percent zinc —but as mentioned, the number could get a boost. “The prior operator’s trenching didn’t go very deep, a lot of the drill holes were very widely spaced, and they didn’t pierce the hanging wall,” said Walchuck. Zinc One plans to source new data and complete an updated resource estimate by the end of 2017.

 

Zinc deposits in the 98th percentile for grade

Historic estimates place the the zinc grade at over 20 percent. This level of grade is rare, putting the Bongará deposits in the 98th percentile globally. Once back in production, the Bongará Project will rank among the world’s highest grade zinc mines. That should allow for near-term cash flow that will enable Zinc One to advance development at other targets.

zinc-one-zinc-distribution

Proven metallurgy suggests >90 percent recovery rate

It can be challenging to extract zinc from non-sulphide ores, but the Bongará Mine has an impressive recovery rate: the mine’s previous operator saw a greater than 90 percent recovery for its zinc oxide mineralizations. They used a Waelz kiln, the same simple processing method Zinc One plans to use. The company expects to see a similarly impressive recovery because the metallurgy is proven.

High value per tonne

Initial production will be concentrated at the Bongará Zinc Mine, with management planning to mine 500 tonnes per day under their initial permit. With a zinc grade of over 20 percent, each tonne is worth approximately $550 on surface.  

zinc-one-high-grade-zinc

“The high-grade Bongará Zinc-Oxide Project will be our major focus in the near term. We also firmly believe that there is substantial upside for additional high-grade, zinc-oxide mineralization along the six-kilometre long trend of the known mineralization from Mina Grande in the southeast to Charlotte Bongará to the northwest,” said Walchuck.

Key Asset: The Charlotte Bongará Project

The Charlotte Bongará Project is primarily where Zinc One sees its blue sky potential. Some 3,115 hectares in size, the area has already been subject to extensive upside exploration.

Past exploration shows promise

95 drill holes across 7,722 metres has shown high grade near-surface drill intercepts of zinc oxides: 29.5 percent zinc across 15.5 meters, 26.1 percent zinc across 12.5 meters, and 29.7 percent zinc across 11.5 meters. Zinc One benefits from all previous research and exploration in the area, which should allow the company to expedite its future development and permitting.

Management

Jim Walchuck, BSc., PEng —President, CEO and Director

Jim Walchuck is a mining professional with over 37 years of national and international experience in the minerals industry, including work in North America, Slovakia, the UK, Ghana, and Tanzania. Walchuck was the Manager Mining for Barrick at the Bulyanhulu Gold Mine in Tanzania from 1999 to 2002. There he oversaw the building of a multi-million-ounce, high-grade underground mine in 24 months and achieved over 2 million man-hours without a lost-time accident. Prior to his 6-year involvement with Bulyanhulu (first as Sr. Project Manager with Sutton Resources then as Manager Mining for Barrick), Walchuck was Manager of Mining and then Manager – Corporate Operations for Royal Oak Mines. This was preceded by a 5-year term as Chief Mining Engineer for Tarkwa Goldfields in Ghana. A member of the Professional Engineers of Ontario for 28 years, Walchuck holds Bachelor Degrees in both Science and Engineering.

Dr. Bill Williams—Chief Operating Officer and Director

Dr. Bill Williams is an economic geologist with extensive experience in South America. He is a former Chief Executive Officer, Director and President of Orvana Minerals Corp. and since leaving that company in 2013, he has been a consultant to the mining industry. Prior to joining Orvana Minerals, he was a Vice President for Phelps Dodge Exploration. He holds a PhD, Economic Geology from the University of Arizona.

Greg Crowe—Director

Greg Crowe is a professional geologist with more than 35 years of exploration, business and entrepreneurial experience throughout North America, Latin America, Africa and Southeast Asia. Since August 2016, Crowe has served as Chief Executive Officer, President and director of Silver One Resources Inc., a mineral exploration company with silver projects in Mexico. Previously, Crowe served as a director, Chief Executive Officer and President of Entrée Gold Inc., a mining company listed on the TSX, from May 2003 to November 2015. Crowe was also co-founder and President of Azimuth Geological Inc., a private consulting company specializing in exploration and management services for junior and major mining companies such as Rio Algom Ltd., the Prime Group and Westmin Resources Limited.

Barry Girling—Director

Barry Girling has been active in various aspects of mineral exploration since 1977. He couples his geological understanding with a B.Com. Finance degree (U.B.C. 1990) to provide consulting services to a number of TSX Venture Exchange companies. Since August 2016, Girling has served as a director of Silver One Resources Inc., a mineral exploration company with silver projects in Mexico. He has strong capital markets experience gained as a founder and director of Foundation Resources Inc. and Search Minerals Inc. Girling was also a director of Roxgold Inc. from August 2006 through September 2102 and completed the re-organization of Roxgold Inc. as well as the acquisition of its Burkina Faso gold property. Aside from BRS, Girling was President and CEO of Birch Hill Gold Corporation from November 2012 until it amalgamated with Canoe Mining Ventures in June of 2014. He continues as a director of I-Minerals Inc. and Kiska Metals Corporation.

Gunther Roehlig—Director

Gunther Roehlig has more than 15 years of experience in the financial and investment industry. In particular, Roehlig has experience in restructuring, managing and financing junior public companies. Most recently, Roehlig served as the president of Terra Ventures Inc., which held a 10-percent stake in the high grade Roughrider uranium discovery owned by Hathor Exploration. In May 2011, Terra Ventures was acquired by Hathor Exploration – Hathor was then subsequently acquired by one of the world’s largest mining companies Rio Tinto in late 2011.

Natasha Tsai—CFO

Natasha Tsai is a Chartered Professional Accountant with Malaspina Consultants Inc. Prior thereto, she was a senior accountant with Grant Thornton LLP. She has acted as CFO and/or controller of a number of listed companies, including Hello Pal International Inc., ImmunoPrecise Antibodies Ltd. and PPX Mining Corp, and has corporate finance and listed company experience in a number of sectors. She has a Bachelor of Commerce degree.


Maria Smirnova: The Silver Market Today and How to Pick Stocks

At last week’s Sprott Natural Resource Symposium, the Investing News Network had the chance to meet with Maria Smirnova, senior portfolio manager at Sprott Asset Management.

Smirnova manages the Sprott Silver Equities Class mutual fund, and she shed some light on the current state of the silver market, noting that gold and silver prices have been lower since 2012, when the US moved to a “less accommodative monetary policy; that’s what drove gold and silver down.”

She also gave her thoughts on how to pick silver stocks, and named a couple of companies that she is interested in today. Read on for more of Smirnova’s thoughts on those topics.

How to pick silver stocks

Smirnova said that one of the factors people have to consider when choosing which silver stocks to invest in is jurisdiction. She gave the example of the recent suspension of Tahoe Resources’ (TSX:THO,NYSE:TAHO) Escobal mine in Guatemala, and also mentioned Tanzania’s new mining laws.

“When you’re going into West Africa or other jurisdictions that’s why sometimes these stocks are just cheaper or they look cheaper than companies in Canada or the US, [which are considered to be] more stable countries,” she explained.

smirnova 1

In addition to location, investors need to consider management because “bad management will kill a good project and vice versa.” It is also important to look at the company’s financials, local infrastructure and project geology.

Two of Smirnova’s picks in the silver space are Silvercrest Metals (TSXV:SIL) and Excellon Resources (TSXV:EXN), which has resolved flooding issues at its Platosa mine in Mexico under the guidance of a new management team.

Silver supply and demand

According to Smirnova, the world will see a deficit of 50 million ounces of silver over the next three years as mine output declines. Mine output decreased in 2016 for the first time in 13 years, and scrap supply is currently hitting 24-year lows.

smirnova 2

“We’re just not seeing silver discoveries. We’re not seeing a lot of viable future mines in silver. It’s a problem, and that’s what reinforces our positive view on the silver price,” she commented.

Smirnova said it is harder to find an economic gold deposit than it is to find an economic silver deposit given current prices, and therefore there has been “huge underinvestment” in the silver industry.

At the same time, demand for silver in solar panels is expected to increase due to the Chinese National Energy Administration’s goal of increasing capacity by 110 gigawatts between 2016 and 2020.

Lack of silver discoveries

Smirnova said a decline in discoveries and future mines coming online has meant that more companies are choosing not to focus solely on silver. For example, Silver Wheaton recently changed its name to Wheaton Precious Metals (TSX:WPM) after making a series of gold investments.

smirnova 3

One new development that could add to global silver production is Bear Creek Mining’s (TSXV:BCM) Corani project. It has an estimated 18-year mine life, and will be capable of producing 8.4 million ounces of silver per year. Wheaton Precious Metals has a 15-percent interest in Bear Creek, which is applying for a construction permit this year.

At the Sprott Natural Resource Symposium, Bear Creek CEO Andrew T. Swarthout said the company has no debt, committed royalties, streams or offtake agreements. Swarthout also said the mine’s silver reserves will encompass 60 to 65 percent of its revenue, with the rest coming from lead and zinc.

Smirnova noted that Sprott Asset Management believes that silver underperformed during the bear market, and expects it to outperform in the medium term. She said many investors are still fans of silver “because the denomination is smaller, it’s easier to buy. It’s easier to buy a silver coin than it is to buy a gold coin.”

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

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

Connect with our Featured Silver Stocks to receive the latest news and investor presentations.


Arizona Mining Closes C$110 Million Private Placement With South32

Arizona Mining (TSX:AZ) is pleased to announce it has closed the private placement with South32 International Investment Holdings Pty Ltd (“South32”), an affiliate of South32 Limited, for 45 million common shares in the Company (the “Shares”) at a price of C$2.45 per Share for gross proceeds of C$110.3 million (the “Placement”).

“The Company is now fully funded to complete its plans over the next year including advancing the Company’s Taylor Deposit to the feasibility and permitting stage and an aggressive drilling campaign to further test the size of the Taylor Deposit,” said Jim Gowans, President and CEO.

As a result of this purchase, South32 beneficially owns approximately 15% of the issued and outstanding shares of the Company on a non-diluted basis (see Early Warning Disclosure below).

About Arizona Mining
Arizona Mining Inc. (an augustagroup company) is a Canadian mineral exploration and development company focused on the exploration and development of its 100%-owned Hermosa Project located in Santa Cruz County, Arizona. A recently completed preliminary economic assessment on the Hermosa-Taylor project showed robust economics, including a 42% after-tax internal rate of return, an after-tax NPV of $1.26 billion and a 1.7 year payback. The Taylor Deposit, a zinc-lead-silver carbonate replacement deposit, has a resource of 8.6 million tons in the Measured Mineral Resource category grading 4.2% zinc, 4.0% lead and 1.6 opt silver, or 9.7% ZnEq, plus 63.8 million tons in the Indicated Mineral Resource category grading 4.5% zinc, 4.4% lead and 1.9 opt silver, or 10.6% ZnEq, and 38.6 million tons of Inferred Mineral Resources grading 4.4% zinc, 4.2% lead and 3.1 opt silver or 11.6% ZnEq, all reported in accordance with NI 43-101 guidelines utilizing a 4% ZnEq cutoff grade. The Taylor Deposit remains open to the north, west and south over land controlled by the Company and will be aggressively drilled to test the limits of the resource. The Company’s other project on the Hermosa property is the Central Deposit, a silver-manganese manto oxide project.

About South32
South32 is a globally diversified metals and mining company with high-quality and well maintained operations which mine and produce bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc in Australia, Southern Africa and South America. More information about South32 is available on their company’s website at www.south32.net.

South32 did not beneficially own any securities of the Company prior to this investment.

The Company has been advised by South32 that the Shares were acquired by South32 for investment purposes, that South32 will evaluate its investment in the Company from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease shareholdings as circumstances require through market transactions, private agreements, or otherwise.

South32 will have a pre-emptive right to participate in future equity financings to maintain its ownership percentage at 15% on a non-diluted basis, and will be restricted from selling any Shares for one year from the closing date of the Placement. South32 will also have the right to nominate one Director to the Company’s Board of Directors provided it maintains a minimum 12.5% ownership in Arizona Mining’s Shares on a non-diluted basis.

A copy of South32’s early warning report will appear with the Company’s documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting South32’s Company Secretary at +61 8 9324 9000.

South32’s address is South32 International Investment Holdings Pty Ltd, Level 35, 108 St Georges Terrace, Perth WA 6000 Australia.

For additional information please contact:

Susan Muir
Vice-President, Investor Relations & Corporate Communications
Telephone: 416-505-7606
Email: smuir@arizonamining.com

Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes forward-looking statements. All statements, other than statements of historical facts, are forward looking statements including statements with respect to the closing of the South32 private placement and the Company’s intentions for its Hermosa Project in Arizona, USA including, without limitation, financing, future drilling and other work on the Taylor Deposit. The Company would also like to caution the reader that the preliminary economic assessment (“PEA”) on the Company’s Taylor Deposit that supports the technical feasibility or economic viability of the Taylor Deposit, including the marketability of the concentrate, mining methods, costs, recoveries and any other technical aspects related to the Taylor Deposit, is preliminary in nature and there is no certainty that the PEA will be realized. Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.

The forward-looking statements are based on a number of assumptions which, while considered reasonable by Arizona Mining, are subject to risks and uncertainties. In addition to the assumptions herein, these assumptions include the assumptions described in Arizona Mining’s management’s discussion and analysis for the year ended December 31, 2016 (“MD&A”).  Arizona Mining cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of zinc, lead, silver and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled “Risks and Uncertainties” in the MD&A.

Although Arizona Mining has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended.  Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Arizona Mining disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.

Click here to connect with Arizona Mining (TSX:AZ) to receive an Investor Presentation.


Arizona Mining Announces C$110 Million Private Placement With South32

Arizona Mining (TSX:AZ) is pleased to announce it has signed a binding private placement agreement for 45 million common shares in the Company (the “Shares”) at a price of C$2.45 per Share with South32 Limited (“South32”) for gross proceeds of C$110.3 million (the “Placement”).

Transaction Highlights

  • South32 will subscribe for 45 million Shares of Arizona Mining at a price of C$2.45 per Share, representing approximately 15% of the Company’s outstanding Shares on a non-diluted, post-subscription basis, for a total subscription price of C$110.3 million.
  • The proceeds will be used to add drill rigs and fully test the Taylor Deeps, Trench Vein System and other high priority targets, as well as to advance the Company’s Taylor Deposit to the feasibility and permitting stage.

“We are extremely pleased to welcome South32, a global mining company, as a strategic investor in Arizona Mining. South32’s significant investment represents an endorsement of the Taylor zinc-lead-silver deposit and recognizes the deposit’s growing world-class stature and additional prospectivity,” said Jim Gowans, President and CEO. “On closing, we will be fully funded to complete our feasibility study and the state permitting activities for operations on our patented land. We will also continue exploring the property and will add drill rigs to thoroughly test Taylor Deeps, the Trench Vein system and other targets to increase the resource.”

South32 will have a pre-emptive right to participate in future equity financings to maintain its ownership percentage at 15% on a non-diluted basis, and will be restricted from selling any Shares for one year from the closing date of the Placement.  South32 will also have the right to nominate one Director to the Company’s Board of Directors provided it maintains a minimum 12.5% ownership in Arizona Mining’s Shares on a non-diluted basis.

The Placement will be completed post receipt of regulatory approvals including by the Toronto Stock Exchange.

About Arizona Mining
Arizona Mining Inc. (an augustagroup company) is a Canadian mineral exploration and development company focused on the exploration and development of its 100%-owned Hermosa Project located in Santa Cruz County, Arizona. A recently completed preliminary economic assessment on the Hermosa-Taylor project showed robust economics, including a 42% after-tax internal rate of return, an after-tax NPV of $1.26 billion and a 1.7 year payback. The Taylor Deposit, a zinc-lead-silver carbonate replacement deposit, has a resource of 8.6 million tons in the Measured Mineral Resource category grading 4.2% zinc, 4.0% lead and 1.6 opt silver, or 9.7% ZnEq, plus 63.8 million tons in the Indicated Mineral Resource category grading 4.5% zinc, 4.4% lead and 1.9 opt silver, or 10.6% ZnEq, and 38.6 million tons of Inferred Mineral Resources grading 4.4% zinc, 4.2% lead and 3.1 opt silver or 11.6% ZnEq, all reported in accordance with NI 43-101 guidelines utilizing a 4% ZnEq cutoff grade. The Taylor Deposit remains open to the north, west and south over land controlled by the Company and will be aggressively drilled to test the limits of the resource. The Company’s other project on the Hermosa property is the Central Deposit, a silver-manganese manto oxide project.

About South32
South32 is a globally diversified metals and mining company with high-quality and well maintained operations which mine and produce bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc in Australia, Southern Africa and South America. More information about South32 is available on their company’s website at www.south32.net.

Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes forward-looking statements. All statements, other than statements of historical facts, are forward looking statements including statements with respect to the closing of the South32 private placement and the Company’s intentions for its Hermosa Project in Arizona, USA including, without limitation, financing, future drilling and other work on the Taylor Deposit. The Company would also like to caution the reader that the preliminary economic assessment (“PEA”) on the Company’s Taylor Deposit that supports the technical feasibility or economic viability of the Taylor Deposit, including the marketability of the concentrate, mining methods, costs, recoveries and any other technical aspects related to the Taylor Deposit, is preliminary in nature and there is no certainty that the PEA will be realized. Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.

The forward-looking statements are based on a number of assumptions which, while considered reasonable by Arizona Mining, are subject to risks and uncertainties. In addition to the assumptions herein, these assumptions include the assumptions described in Arizona Mining’s management’s discussion and analysis for the year ended December 31, 2016 (“MD&A”).  Arizona Mining cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of zinc, lead, silver and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled “Risks and Uncertainties” in the MD&A.

Although Arizona Mining has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended.  Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Arizona Mining disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.

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5 Top Weekly TSXV Stocks: Gold and Silver Stocks Jump

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week up 1.61 percent at 810.61 points.

Much of the week’s trading was predicated on a widely expected quarter-point interest rate hike delivered by the US Federal Reserve on Wednesday (March 15). Precious metals rallied, as the increase had already been widely priced into the market, and the US dollar slipped to a five-week low.

“Investors are moving from sector to sector dependent on where the US dollar is, comments from the White House on the health care act, and earnings,” said Quincy Krosby, market strategist at Prudential Financial in New Jersey.

That said, the increase in precious metals prices sent a number of stocks in the mining sector up last week. The five top-gaining stocks were:

  • Atacama Pacific Gold (TSXV:ATM)
  • Midnight Sun Mining (TSXV:MMA)
  • Helio Resource (TSXV:HRC)
  • Silver Spruce Resources (TSXV:SSE)
  • Focus Graphite (TSXV:FMS)

Here’s a look at those companies and the factors that moved their share prices last week. 

Atacama Pacific Gold

Atacama Pacific Gold is a Chile-focused precious metals company that is developing the Cerro Maricunga oxide gold deposit, one of the largest undeveloped oxide gold deposits in the world. The company recently published a prefeasibility study that confirms the economic viability of Cerro Maricunga; it shows that average annual gold production will be 281,000 ounces over the first eight years that the deposit is mined. 

The company has not released any news since March 3, when it announced the end of a drill program at Cerro Maricunga. Even so, last week its share price spiked 41.94 percent to close the period at $0.44.

Midnight Sun Mining

Midnight Sun Mining is a mineral exploration company that is focused on Africa. It has a definitive agreement to option a 60-percent interest in the Solwezi licences in Zambia.

Like Atacama, Midnight Sun did not release any news last week. Nevertheless, its share price rose 36.51 percent to reach $0.43. Most recently, in February, the company announced that it is planning geophysical work to follow up on its recent discovery of ore shale type mineralization at its Solwezi properties.

Helio Resource

Helio Resource is a junior exploration company focused on advancing its SMP gold project in Tanzania to a production decision. The company has not released any news since last year, but last week its share price increased 33.33 percent to reach $0.04.

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Silver Spruce Resources

Silver Spruce Resources is a junior exploration company developing the Pino De Plata epithermal silverbase metals-gold project in Mexico’s prolific Sierra Madre Occidental region. This concession contains a number of historic artisanal mine workings dating back to the Spanish Colonial era.

On March 13, the company closed a $459,000 non-brokered private placement. On the back of the news, Silver Spruce’s share price increased 26.67 percent to reach $0.09.

Focus Graphite

Last but not least is Focus Graphite, whose share price increased 26.67 percent last week to end at $0.09. The company’s goal is to become a low-cost producer of technology-grade graphite concentrate from its Lac Knife and Lac Tetepisca projects in Quebec. It did not put out any news last week.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

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

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

Editorial Disclosure: Focus Graphite is a client of the Investing News Network. This article is not paid-for content.


This article is updated each week. Please scroll to the top for the most recent information.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week slightly down at 799.19 points — a 2.38-percent decrease.

That said, Reuters reported that shares on Wall Street posted broad-based gains, supported by US jobs data. The data has raised expectations of an interest rate hike from the US Federal Reserve next week.

“There’s nothing here that’s going to keep the Fed from hiking interest rates next week,” said Heidi Learner, chief economist at Savills Studley, a unit of Savills in New York.

Despite that bumpiness, a number of TSXV-listed mining stocks saw share price increases last week. The top gainers include:

Here’s a brief look at what moved the share prices of those companies last week.

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Tinka Resources

Exploration company Tinka Resources is developing its Ayawilca project in Central Peru. The 150-square-kilometer project is located 40 kilometers northwest of Cerro de Pasco in a richly mineralized silverlead-zinc belt.

On March 6, Tinka announced the discovery of a new high-grade zinc zone at Ayawilca. The news pushed the company’s share price up 57.58 percent, and it closed Friday at $0.52.

EnGold Mines

EnGold Mines is a gold, copper and silver exploration company focused exclusively on its 18,275-hectare Lac La Hache property in the Cariboo region of BC. The property covers a large porphyry copper-style mineralization system in a region known for world-class porphyry deposits.

On March 7, the company said that it will recommence drilling at a new discovery area at Lac La Hache by March 13. On the back of the news, EnGold’s share price rose 43.75 percent to reach $0.34.

American CuMo Mining

American CuMo Mining’s CuMo project in Idaho is one of the largest deposits of molybdenum, copper and silver in North America. The company is advancing CuMo towards feasibility, and also has plans to advance its newly acquired Calida gold project.

On March 2, the company purchased additional mining claims for CuMo and completed ore-sorting analysis. Though it did not release any news last week, American CuMo’s share price saw an increase of 41.94 percent to reach $0.44.

Emerita Resources

Emerita Resources is engaged in the acquisition, exploration and development of mineral properties. It is focused primarily on Spain and Brazil, and is interested mainly in zinc, lithium and gold.

This year, the company has released little news. Its last press release came in January, when it provided an update on an appeal regarding its Aznalcollar project in Spain. Last week, Emerita’s share price increased 41.94 percent to reach $0.22.

Stakeholder Gold

Finally, Stakeholder Gold enjoyed a share price increase of 28.12 percent last week, ending at $0.41. Stakeholder is conducting exploration at its Ballarat gold property in the Yukon’s White Gold District.

On March 8, the company entered into a property option agreement with Mountain View Gold under which Mountain View has granted Stakeholder the option to earn up to a 100-percent interest in its Goldstorm property in Nevada.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

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

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

Editorial Disclosure: American CuMo Mining and Stakeholder Gold are clients of the Investing News Network. This article is not paid-for content.

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This article is updated each week. Please scroll to the top for the most recent information.

By Priscila Barrera, March 5, 2017

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed the week slightly down at 818.46 points–a 2.23 percent decrease.

Last week, major Wall Street indexes ended flat after Federal Reserve Chair Janet Yellen signaled the central bank is set to raise interest rates this month if employment and other economic data hold up.

Yellen, in prepared remarks to a business lunch in Chicago, also said rates are likely to rise faster this year, as the economy appears clear of any imminent hurdles at home or abroad for the first time in her tenure, Reuters reported.

As a result, many stocks were on the rise last week, with gains as high as over 114.29 percent over the five-day period.

The top five stocks for the week were:

  • Saint Jean Carbon (TSXV:SJL)
  • Noble Mineral Exploration (TSXV:NOB)
  • Macdonald Mines (TSXV:BMK)
  • Iberian Minerals (TSXV:IML)
  • Karmin Exploration (TSXV:KAR)

Here’s a closer look at those companies:

Saint Jean Carbon

Saint Jean is a publicly traded carbon science company, with holdings in graphite mining and lithium claims in the province of Quebec in Canada. Its graphite properties include Walker Lump, Clot Lump, St. Jovite Lump and Bell Project. On February 28, the company announced it had received a purchase order from Panasonic Corporation (TYO:6752) to supply graphite anode material to their manufacturing facility.

Over the five-day period, shares of Saint Jean Carbon saw an increase of over 114.29 percent to reach $0.15.

Noble Mineral Exploration

Noble Mineral Exploration holds in excess of 70,641 hectares of mineral rights in the Timmins-Cochrane area of Northern Ontario, upon which it plans to generate joint venture exploration programs. The company’s exploration focus is nickel-gold in Northern Ontario, gold in the Wawa area, and lithium in Northern Saskatchewan.

On February 22, the company announced that it completed the conversion of all debentures and that its operator MacDonald Mines has started work on the Wawa-Holdsworth project. Last week, shares of Noble Mineral Exploration saw a 77.78 percent increase to reach $0.08.

Macdonald Mines

MacDonald Mines Exploration is a mineral exploration company focused on gold and silica exploration in Canada. In December 2016, MacDonald Mines entered into an option and joint venture agreement with Noble Mineral Exploration to advance exploration on Noble’s Wawa-Holdsworth Gold and Silver Project.

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On February 28, the company announced that it had begun a core sampling program at its Wawa-Holdsworth project. Last week, shares of Macdonald Mines saw a 47.83 percent increase to reach $0.17.

Iberian Minerals

Iberian Minerals is a Canadian junior mining company focused on evaluating gold properties in the southwestern United States. Its properties include Caurio Gold Mining Project, Cehegin Magnetite Iron Ore Mining Project and Aroche Wollastonite Mining Project. The Company operates through its subsidiary, Mineworx USA Inc, which is a mineral development and processing company focused on the mining sector through its technologies: HM X-tract, HM X-leach and HM X-mill.

On January 9, the company announced that it had applied for an exploration permit to start a work program on its Cehegin Iron Ore project in Spain. Shares of Iberian Minerals closed the week out at $0.14–a 40 percent increase over the week.

Karmin Exploration

Karmin acquires, explores and develops resource properties in Brazil and Peru. Karmin owns 30% of the Aripuanã̃ Zinc Project, one of the largest undeveloped zinc projects in Brazil. The company also owns 100 percent interest in the Aripuanã̃ Gold-Silver Project in north-western Brazil and the 25-square-kilometre Cushuro Gold Project located in the world-class Alto Chicama gold-mining district of northern Peru.

The latest company news are from November, when Karmin announced developments at the Aripuanã Zinc Project. Last week, shares of the company increased 34.48 percent to reach $0.78.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

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

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