MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9U) ("MTB" or the "Company") announces that drilling on the Telegraph porphyry project is anticipated to start around August 19. Currently pads are being built and the drills are being mobilized. The first phase of drilling will be testing three areas along 2.5 kilometres of the identified Dok trend.
The geological setting of the Telegraph property is similar to four world-class porphyry copper-gold deposits in the same region, all of which are being advanced by major mining companies. MTB consolidated a 310 square kilometer land package in 2021 and is now exploring this area for the first time on a consolidated basis.
Two holes drilled in 2014 confirmed the presence of a porphyry copper-gold system at Dok, but the holes are interpreted to be peripheral to the heart of the system. For the last 2 years the MTB geological team has been compiling the historic data and systematically exploring the various identified targets with geological alteration and structural mapping, prospecting, shortwave infrared spectroscopy (SWIR), rock sampling, spectral analysis and soil geochemistry. A Volterra 3D Induced Polarization (3DIP) ground survey was also conducted in 2022 over the Red Creek area within the Dok Trend. By evaluating the SWIR data, trace element geochemistry and identified alteration, the geological team is building a porphyry model for the area. Multiple porphyry targets have been identified within the broad zone of alteration identified in the area, including the Dok trend and Strata Mountain. This initial drill program will involve 2,000 to 3,000 meters of drilling from 3 drill pads, with the details of the program evolving based on observations as the drilling progresses.
2023 Field Program and Target Selection
For the 2023 field season, exploration has been focussed primarily on the Dok trend in preparation for drilling.
Field work has consisted of further geological alteration and structural mapping, spectral analysis, shortwave infrared spectroscopy (SWIR), assay rock sampling, and soil geochemistry. A portable X-Ray Fluorescence Spectrometer (pXRF) is on site which allows the team to instantaneously analyze the soil and rock samples without having to wait for assay results from the lab. Over 650 soil samples have been collected of which assay results have been received for the first 275 samples. The assay results for copper from the lab are consistently about 30% higher than the pXRF results, providing added confidence in the identified pXRF soil anomalies.
Numerous copper and gold in soil anomalies occur within Dok trend including a 1.2 km x 1 km anomaly, which includes 175 soil samples. The average concentration of copper in soils within this anomaly is 376 ppm, with a high of 3,860 ppm Cu and a low of 51 ppm. Values of up to 0.36 ppm gold also occur within this area.
Analysis of trace element geochemistry has demonstrated diagnostic zonation of metals comparable with current porphyry models. Additionally, SWIR data has identified alteration patterns, including white mica with high white mica crystallinity, a proxy for hotter temperatures and subsequently the centre of a porphyry hydrothermal system.
Figure 1- Current and Historic Soil Geochemistry for Copper on the Dok Trend
Currently, three styles of copper and gold mineralization have been identified. They include the following,
Targets along the Dok trend have been ranked based on their IP and 3DIP chargeability responses from the 2012 and 2022 ground surveys, the magnetic response from the 2012 airborne mag survey, soil geochemistry results, pXRF results, SWIR results and field observations from ground truthing of identified anomalies.
Lucia Theny, Vice President Exploration, stated: "The overlapping of multiple geological, geophysical and geochemical indicators is providing good confidence in our target selection and the team is excited to be able to test their hypothesis with the drill."
Figure 2 - Proposed Drill Holes for the Dok Trend on top of Copper Soil Geochemistry and Induced Polarization Chargeability
Lawrence Roulston, CEO, noted: "The geological team over the past two months carried out mapping, sampling and spectral analysis which confirmed the earlier information and filled in some gaps. These results provided a firm basis for selection of the initial drill targets. The team has worked methodically to advance the understanding of this huge geological system. This initial drill program will involve 2,000 to 3,000 meters of drilling from 3 drill pads, with the details of the program evolving based on observations as the drilling progresses. Use of the pXRF on the drill core will support the geological team's observations."
About MTB
MTB has six active projects spanning 670 square kilometres (67,587 hectares) in the prolific Golden Triangle of northern British Columbia. With the focus on the Telegraph project, discussions are now underway leading to joint ventures and/or spinouts of other projects.
On behalf of the Board of Directors:
Lawrence Roulston
President & CEO
For further information, contact:
Caroline Klukowski
info@mountainboyminerals.ca
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.
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Abcourt Mines Inc. (" Abcourt " or the " Corporation ") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has closed a first tranche of its previously announced non-brokered private, for gross proceeds of $1,668,040 (the " Offering ") from the sale of the following:
Each Unit consists of one common share of the Corporation and one common share purchase warrant (each, a " Warrant "). Each Warrant entitles its holder to purchase one common share of the Corporation (each, a " Warrant Share ") at a price of $0.08 per Warrant Share at any time on or before April 3, 2028, subject to acceleration in certain circumstances.
The Corporation intends to use the proceeds of the Offering for the exploration and advancement of the Corporation's Flordin and Sleeping Giant gold projects, which are located in the Abitibi Greenstone Belt in Québec, as well as for working capital purposes and general corporate purposes.
In connection with the Offering, the Corporation paid finder's fees of $1,051,20 in cash and $91,051.20 in common shares at a deemed value of $0.05 per common share, and issued 1,535,040 Warrants to arm's length third parties who assisted the Corporation by introducing subscribers to the Offering.
All securities issued under the Offering are subject to a statutory hold period ending on the date that is four months plus one day following the closing date of the Offering. The Offering remains subject to the final approval of the TSX Venture Exchange.
The securities offered have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian exploration company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities.
For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt's profile on www.sedarplus.ca
| Pascal Hamelin President and CEO T : (819) 768-2857 Email: phamelin@abcourt.com | Dany Cenac Robert, Investor Relations Reseau ProMarket Inc. T : (514) 722-2276, poste 456 Email : dany.cenac- robert@reseaupromarket.com |
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements, including the expectation of the Corporation with respect to the use of proceeds raised under the Offering, are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR+ at www.sedarplus.ca . There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward- looking statements or information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Walker Lane Resources Ltd. (TSX-V: WLR, "Walker Lane") announces that there has been unusual trading activity of its common shares that appeared to initiate on March 27, 2025 and appears to have occurred on each subsequent TSX-V trading day to current day. The recent stock trading activity does not reflect the health of our business or the recent significant value added assets to the property portfolio and adds to the previous undervaluation of the assets that were noted in a research report completed by Fundamental Research Corporation (see CMC Metals Ltd. press release - January 15, 2025). Management considers that some recent market transactions of its common shares could be an organized type of short selling tactic as we cannot determine any other explanation for the unusual downside trading activity.
In this regard, our management have contacted CIRO who are the market regulator for issuers on the TSX-V Exchange. CIRO is now undertaking an evaluation of certain market transactions and trading patterns of the common shares of WLR and our predecessor TSX-V: CMB to determine if a more comprehensive investigation is required. The company will not be advised by CIRO of the results of their evaluation or if an investigation is to be undertaken. However, if suspicious trading practices are identified they may result in further action by CIRO with the related party(ies).
Kevin Brewer, President and CEO of Walker Lane noted: "Walker Lane is advancing gold-silver projects in Nevada, the second most mine-friendly jurisdiction in the world as ranked by the 2024 Annual Fraser Institute Rankings of Mining Jurisdictions. The three new property focused in the Walker Lane Gold Trend in Nevada were added to our strong portfolio of exploration projects in Canada and should therefore result in a strengthening of our market position and valuation. These recent acquisitions have paved the way to conduct near-term exploration programs on potential high-grade gold and silver projects with a determined focus on drilling as a critical element of our exploration efforts. It is our intent to focus drilling on our two cornerstone properties, the Tule Canyon Gold Project in the highly popular Walker Lane Gold District in western Nevada and on our silver-polymetallic Amy Project in British Columbia. Combined with exploration efforts that are expected to be conducted on our Silverknife Property optioned to Coeur Mining Inc. and continued benefits in payment streams associated with the sale of our Bishop gold mill to North Bay Resources Inc, our management team feels that our new direction and our former strengths represent a tremendous opportunity to create shareholder value. The recent trading of our common shares does not in our opinion accurately reflect the value of our assets and the potential value generation that we submit can be derived by executing our current strategic direction."
In addition, the Company notes that it is creating a new website which will be www.walkerlaneresources.com
Our current target is to have the website operational on or before April 7, 2025 and thereafter it will be regularly updated with news updates, property information, recent and past corporate presentations, upcoming events etc,.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About Walker Lane Resources Ltd.
Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon and Newfoundland and Labrador. The Company intends to initiate an aggressive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver, B.C.) projects through an aggressive drilling program to resource definition stage in the near future.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
Walker Lane Resources Ltd.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013 kbrewer80@hotmail.com
Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2
Cautionary and Forward Looking Statements
This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plans", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "should", "believe" "targeted", "can", "anticipates", "intends", "likely", "should", "could" or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon and the Bridal Veil property in Newfoundland and Labrador all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX:CDE). These forward-looking statements reflect the Company's current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company's properties is reliable; the Company's operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company's properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company's current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.
Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company's public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company's control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.
The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses. The Company's financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company's accountants or auditors. The Company's financial projections represent management's estimates as of the dates indicated thereon.
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