Eastern Metals Ltd (ASX:EMS) (“Eastern Metals” or “the Company”) is pleased to announce that it has been successful in its application for co-funding in Round 17 of the Northern Territory (NT) Geophysics and Drilling Collaborations Program (GDCP), part of the NT Government’s ‘Resourcing the Territory’ initiative. This is a competitive grants program administered by the Northern Territory Geological Survey (NTGS) to address geoscientific knowledge gaps, advance exploration activity and support the discovery and development of resources in the NT.
Eastern Metals’ Chief Executive Officer Ley Kingdom said: “We are delighted to have been successful in Round 17 of the NT Government’s exploration grants program. The program is highly competitive and highlights the NT Government’s proactive approach to the exploration for globally recognised critical minerals in the Aileron Province.
“The funding will help the Company to improve its geological understanding of the structurally complex Home of Bullion deposit and generate targets between Home of Bullion and the Mulbangas prospect to the northwest. We look forward to commencing the survey and I would like to extend my appreciation to the NT Geological Survey for their support.”
The proposed survey includes a combined gradient array IP (GAIP) and pole-dipole IP (PDIP), over an area of ~10km by 2km in a northwest orientation (refer to Figure 1).
Figure 1: Location of proposed IP survey in the Company’s Neutral Junction group of tenements to the northwest of Home of Bullion to Mulbangas
The program consists of 50m GAIP and a 100m PDIP electrode spacings, with a line length of 2,000m and a line separation of 200m. The survey will test the applicability of GAIP and PDIP to narrow, steeply dipping targets with a broad sulphide alteration halo.
The survey design between the Home of Bullion deposit and Mulbangas prospect, within EL23186, EL28615 and EL32027, is consistent with the orientation of the Bullion Schist host rock and the structural framework of the known areas of mineralisation at Home of Bullion. It is anticipated that the survey coverage will enable correlation of the Home of Bullion’s geological features along strike, such as key host faults and folds, mineralisation lodes within the Bullion Schist, magnetic anomalies and other geophysical signatures associated with alteration patterns. This will allow a more precise testing of previously defined exploration targets.
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MAG Silver Corp. (TSX NYSE American: MAG) ("MAG" or "MAG Silver") reports that at its Annual General and Special Meeting (the " AGSM ") held on June 17, 2024, MAG's shareholders (the " Shareholders ") approved by majority: to elect all eight directors standing for election, to re-appoint Deloitte LLP as auditors of the Company, and to support the Company's approach to executive compensation.
Detailed results of the total shares voted at the AGSM are set out below.
| Motions: | |||||
| Nominees | Total Votes Cast | Total Votes For | Total Votes Withheld | % For | % Withheld |
| Peter Barnes | 58,366,832 | 53,951,708 | 4,415,124 | 92.44% | 7.56% |
| Tim Baker | 58,366,831 | 57,998,473 | 368,358 | 99.37% | 0.63% |
| Jill Leversage | 58,366,832 | 57,131,430 | 1,235,402 | 97.88% | 2.12% |
| Selma Lussenburg | 58,366,832 | 57,534,813 | 832,019 | 98.57% | 1.43% |
| Susan Mathieu | 58,366,832 | 57,946,695 | 420,137 | 99.28% | 0.72% |
| Dale Peniuk | 58,366,831 | 57,532,399 | 834,432 | 98.57% | 1.43% |
| Tom Peregoodoff | 58,366,831 | 56,445,627 | 1,921,204 | 96.71% | 3.29% |
| George Paspalas | 58,366,832 | 57,991,551 | 375,281 | 99.36% | 0.64% |
| Total Votes Cast | Total Votes For | Total Votes Withheld | % For | % Withheld | |
| Appointment of Auditors | 68,454,799 | 62,106,302 | 6,348,497 | 90.73% | 9.27% |
| Total Votes Cast | Total Votes For | Total Votes Against | % For | % Against | |
| Say on Pay | 58,366,830 | 56,655,960 | 1,710,870 | 97.07% | 2.93% |
"On behalf of the Board, management and staff, I would like to thank outgoing director, Dan MacInnis, for his 19 years of commitment and service to the Company ," said George Paspalas, President and CEO of MAG. "Dan's contribution to MAG, both as former CEO and more recently as a director, has been immense, and he will be missed. We wish him all the best in his retirement."
About MAG Silver Corp. ( www.magsilver.com )
MAG Silver Corp. is a growth-oriented Canadian exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is emerging as a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo plc (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to underground mine production and processing of high-grade mineralised material, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada.
For further information on behalf of MAG Silver Corp.
Contact Michael J. Curlook , Vice President, Investor Relations and Communications
| Phone: | (604) 630-1399 | Website: | www.magsilver.com |
| Toll Free: | (866) 630-1399 | Email: | info@magsilver.com |
Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995 or "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, " forward-looking statements "). All statements in this release, other than statements of historical facts are forward looking statements, including statements that relate to the Company's approach to executive compensation. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. 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. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements identified herein include, but are not limited to, a subsequent change in the Company's approach to executive compensation from that approach approved by Shareholders, changes in applicable laws, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including those risks disclosed in MAG Silver's filings with the Securities Exchange Commission (the " SEC ") and Canadian securities regulators. All forward-looking statements contained herein are made as at the date hereof and MAG Silver undertakes no obligation to update the forward-looking statements contained herein. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com and www.sec.gov .
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