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Element79 Gold Corp invites individual and institutional investors as well as advisors and analysts, to attend its real-time, interactive presentation on the Emerging Growth Conference.
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Element79 Gold Corp
Investor Insight
With focused and strategic exploration plans for both its Lucero and Clover projects and the successful sale of its Maverick Springs asset, Element79 has demonstrated a commitment to increasing shareholder value and a compelling case for investors.
Overview
Element79 Gold (CSE:ELEM,OTCQB:ELMGF,FSE 7YS0) is an exploration and development mining company with several exciting opportunities for strategic growth. First, is the potential for near-term production through its Lucero project in Peru. The Lucero mine is one of the highest-grade underground mines in Peru’s history and is on the fast track for resource development and production. Additionally, Element79 owns the Clover project in Nevada, creating further opportunities for long-term resource development. Third, and the most exciting business opportunity for the company yet, is the immediate-term resource development and production of the Lucero tailings. This has been facilitated recently by Element79’s agreement, through a letter of intent, with S.M.R.L. PALAZA 16 to purchase and process approximately 1.3 million tons of tailings from previous mines within the current Lucero mine area.
A globally experienced management team with a proven track record of success in developing operational mines leads Element79 Gold toward fully executing these strategic business opportunities.
Lucero is a past-producing, high-grade gold mine ready to reach production quickly. The mine operated between 1989 to 2005. Historic reports between 1998 and 2004 indicate that the mine produced approximately 18,800 ounces of gold and 435,000 ounces of silver per year at a head grade of19 grams per ton (g/t) gold equivalent. An NI 43-101 report prepared by a third party indicates grades up to 116.8 g/t gold equivalent. In addition to the potential of generating cash flow in the near term, the 10,805-hectare Lucero project also has high upside potential for further greenfield exploration.
Peru is considered a relatively stable mining jurisdiction, especially for smaller-scale operations. As mining is an essential aspect of the country’s GDP, Peru has developed a favorable regulatory regime for its mining industry. Element79 Gold is poised to benefit from the pro- mining jurisdiction as it moves the Lucero asset toward production.
Element79 Gold has engaged a Peruvian technical mining service provider, Ore Discovery LLC, to work in conjunction with Element79’s operations team. The 2023 site work included above-ground and underground mapping, sampling, trenching, drill site targeting on both better-known and unexplored vein systems, for exploration and de-risked resource development on the path toward ore extraction and near-term cash flow generation.
Assays from the underground sampling include results of up to 98 g/t gold and 2,034 g/t silver. Moreover, assays from March 2023 yielded 21-ore grade and high yield up to 11.7 ounces per ton gold and 247 ounces per ton silver, further validating the potential for a significant high- grade future operation.
In June 2023, Element79 further strengthened its portfolio in Peru with the acquisition of the 1,200-hectare Lucero del Sur 28, located strategically just east of the high-grade Lucero gold- silver project. Lucero del Sur 28 is a coveted area covering the Roxana vein, a vein dominated by white to hyaline quartz and altered rock clasts, with lesser amounts of limonite patinas, hematite, pyrite and jarosite.
In September 2024, Element79 signed a letter of intent with S.M.R.L. PALAZA 16 to purchase and process approximately 1.3 million tons of tailings currently controlled by Palaza at the Lucero Mine. This agreement marks the launch of a tailings reprocessing venture for Element79 and represents a significant economic opportunity for the company.
Element79’s secondary asset, the 100 percent owned Clover project, is located in the historic Midas mining district and comprises 169 unpatented claims over 3,063 acres in Elko County, Nevada. A well-known gold and silver producer since the early 1900s, the Midas district has yielded more than 2 million ounces of gold between 1998 and 2013.
The company also previously held the Maverick Springs project in Nevada. Acquired by Element79 in December 2021 for an adjusted cost of C$3.34 million, the project was sold to Sun Silver Resources (ASX:SS1) in May 2024 for C$4.4 million cash and 3.5 million shares of SS1 priced at 0.20 AUD.
A powerhouse management team leads Element79 Gold with a track record of experience and success. Kim Kirkland, COO and former VP global exploration, has held executive and lead operations-focused engineering roles with some of the world's largest mining companies, including Barrick Gold, Rio Tinto Group, MMG, Amec Foster Wheeler PLC and McEwen Mining. Kirkland has served as project lead with extensive South American experience, who can proficiently lead exploration programs and mining operations through milling, extraction/concentration and optimization/beneficiation.
Antonio Maragakis, former COO and director, now advisor, has held director-level positions at miners with multi-billion dollar portfolios, including Barrick Gold Corporation and Koch Industries. He has also built a leading global mining engineering consultancy, Mine Plus Group, as well as a private mining fund focused on near-term production development projects, MFD Holdings SA.
Shane Williams, strategic advisor, brings a history of significant value creation in early-stage and operating companies and currently heads West Red Lake Gold (TSXV:WRLG) as president and CEO. Combined, Element79 Gold has the right experts to fully realize its assets' potential.
Company Highlights
- Element79 Gold Corp is an exploration and development mining company with a high- grade gold and silver flagship project with near-term resource development and cash flow potential.
- The company’s Lucero project in Peru has historical high-grade results and provides opportunities for both near-term revenue and future greenfield exploration.
- Lucero has historically produced 18,800 ounces of gold and 435,000 ounces of silver per year at 19 grams per ton gold equivalent.
- Peru is considered a safe jurisdiction for mining operations due to a pro-mining government that recognizes the industry’s economic contributions.
- Element79 Gold also owns the Clover project, a notable exploration asset in the Midas Mining District, Battle Mountain, Nevada, USA.
- A powerhouse management team leads the company toward fully developing its asset portfolio.
Key Projects
Lucero Gold Project
The 10,813-hectare project in southern Peru presents near-term cash flow potential as it moves toward production. Lucero operated as a high-grade gold mine between 1989 and 2005 and remains partially unexplored. As a result, the asset is in a unique position to start generating revenue while also providing future growth opportunities with additional exploration.
Project Highlights
- Encouraging Historic Results: Reports from 1998 to 2004 indicate production averaging roughly 18,800 ounces of gold and 435,000 ounces of silver per year, with grades of 14.0 g/t gold and 373 g/t silver. Additionally, the asset contains recoveries at the ore processing facility averaging 94.5 percent for gold and 85.5 percent for silver for near-term cash flow.
- Unique Geology: Lucero hosts 74 recognized epithermal veins, 14 of which have been partially exploited. The project is a low-sulphidation epithermal gold-silver deposit hosted within tertiary volcanics in the Central Andes Cordillera of southern Peru. The project also hosts unexplored high-sulphidation style mineralization, which has returned surface samples up to 33.6 g/t gold.
- Promising Resource Estimate: A third-party NI 43-101 report indicates grades up to
- 116.8 g/t gold equivalent, or 78.7 g/t gold and 2,856 g/t silver. Element79 Gold is moving towards production to capitalize on these resources.
- Strategic Partnership: Element79 signed a letter of intent with Palaza for the exclusive purchase and processing of about 1.3 million tons of tailings at Lucero, representing a significant economic opportunity.
Clover Gold Property
The Clover Property is located in the historic Midas mining district in Nevada, which has been producing gold and silver since the early 1900s, It is 16 kilometers west of Hecla Mining Company’s Midas Mine, the largest known gold-silver epithermal deposit along the Northern Nevada Rift. Mineralization at the property is classified as low-sulphidation, vein-hosted, epithermal gold mineralization similar to that found at the Midas deposit as it is found within a similar geologic setting. Gold and silver mineralization at the Midas Mine is hosted in several northwest-striking veins. Between 1998 and 2013, the main veins produced over 2 million ounces of gold.
A $6.7-million program is planned for the Clover Property focused on data compilation, construction of geologic and resource models, and a 10,000-meter drilling program followed by a mineral resource estimate and NI 43-101 compliant preliminary economic assessment.
Project Highlights
- Consists of 169 unpatented claims encompassing 3,063 acres.
- Located in the historic Midas Mining District, which has been producing gold and silver since the early 1900s, along the northeast trending Getchell Trend that bridges the northwestern ends of the Carlin and Battle Mountain Trends and contains Nevada Gold’s active Turquoise Ridge Mine, the third largest gold mine in the US with 537,000 ounces of gold production reported in 2020.
- Drilling by previous operators intersected mineralized and veined breccias and shear zones with significant intercepts including 9.7 meters grading 25.3 g/t gold, 7.6 meters of
- 7.9 g/t gold and 3 meters of 10 g/t gold.
- Work to date by Element79 found that the property has ubiquitous expressions of precious metals and pathfinder elements in rock chip, soil geochemistry and drill hole intercepts consistent with the Midas, Hollister and other classical epithermal systems.
Management Team
James C. Tworek - Chief Executive Officer and Director
James Tworek has held director, senior management, analytical and operations roles in both public and private companies. A quick study and entrepreneurial to the bone, his 25-year career started in banking in 1998 and has since garnered a wealth of experience across diverse industries between commercial banking, mining, project finance, mezzanine debt, oil and gas, clean water/envirotech and hemp/legal cannabis industries. He has investing experience in real estate, private equity, private mining, startup generation, tech and agricultural ventures. A team leader driven by results, Tworek has built his career on successfully executing development and corporate growth targets, exceeding sales objectives, and being mindful of ensuring open communication, honesty and integrity with investors and stakeholders.
Tammy Gillis - Chief Financial Officer
Tammy Gillis is a CPA, CMA with over 20 years of experience in the public markets bringing a comprehensive background in finance, reporting and regulatory requirements for manufacturing, bio-technology, technology and junior exploration industries. Gillis has been part of teams that have completed several financings, grant applications and acquisition transactions. Ms. Gillis started her career working at a corporate and securities law firm. Gillis previously served as corporate accountant for an international manufacturing company that had revenue in excess of
$120 million and as chief financial officer for a technology company with patented cathode materials used in lithium-ion batteries that successfully built a pilot plant with the assistance of over $4 million in government grants. Ms. Gillis has served as an officer for several TSXV and CSE-listed issuers.
Kim Kirkland - Chief Operating Officer, QP
Kim Kirkland’s track record spans senior executive and lead engineering roles at some of the world's largest mining companies. Key highlights of Kirkland's work history include:
- Barrick Gold Corporation - Involved during the early growth and innovation years at the Goldstrike Complex, including the development and maintenance of the open-pit mineral reserve model for the Betze-Post Mine
- Rio Tinto Group - La Granja Copper Project in northern Peru, held a senior management position at the Benga Mine
- MMG Ltd. - regional manager at the Las Bambas Copper Mine in Peru
- Amec Foster Wheeler Plc - Marcobre SAC's Mina Justa Mine Project
- McEwen Mining - Responsible for the restructuring of the El Gallo Silver Project (later renamed to Fenix) in Sinaloa, Mexico, as the director of project development.
Neil Pettigrew - QP, Director
Neil Pettigrew is a professional geologist in good standing, registered in Ontario, with over 20 years of experience in the mineral exploration industry. He received his Honors B.Sc. from the University of New Brunswick and his M.Sc. from the University of Ottawa. Pettigrew has been employed as a senior precambrian geoscientist with the Ontario Geological Survey and has worked for several junior and major companies in gold and Cu-Ni-PGE exploration. He has held officer and director positions at several TSX and TSXV-listed junior companies and currently sits as vice-president of exploration and director of GT Resources (formerly, Palladium One Mining)
Zara Kanji - Director
Zara Kanji is a founder of Zara Kanji & Associates (established in 2004). Kanji is experienced in financial reporting compliance for junior listed resource companies, personal and corporate taxation, general accounting, financial reporting and value-added operational consulting services for individuals, and private and public companies. Prior to starting her accounting practice, Kanji served as a controller for a marketing company, as an accountant in public practice for a CA firm, a CGA firm and as an analyst for a pension fund. In addition to providing accounting and financial compliance services to private and public entities, Kanji has served as director and officer for several listed issuers.
Warren Levy - Director
Warren Levy brings more than 23 years of experience developing major and private companies in resource development across the Americas. He has achieved significant milestones and successes centered around community engagement, sustainable development of infrastructure, energy and natural resource development. Levy is the current CEO of Frontier Advisory, an advisory firm providing energy policy advocacy, sustainability, market entry, capital raising and technical support to responsible natural resource and social development around Latin America. He is also former CEO of Jaguar E&P, as well as former CEO of Pentanova Petroleum.
Antonios (Tony) Maragakis - Strategic Advisor
Antonios Maragakis completed his PhD at the University of Delft, MSc at the University of Bath, his B.Sc and B.A. at the University of Nevada, and executive training at the London Business School. He brings with him more than 15 years of experience leading some of the largest mining megaprojects in the last decade. Maragakis holds a distinguished resume, including management and director-level positions overseeing multibillion-dollar project portfolios internationally at organizations, such as:
- Barrick Gold (NYSE Listed), where he led project controls in North America across a portfolio of more than 70 projects worth over $2.3 billion.
- Skeena Resources (TSX Listed), where he worked closely with executive leadership to develop the Eskay Creek Project and corporate processes and management systems.
- Freeport-McMoRan (NYSE Listed), where he helped develop the $3-billion Indonesian Copper Smelter Project which includes a two-million-ton/annum smelter and precious metal recovery plant.
- Eldorado Gold (TSX, NYSE Listed), where he was project director for the over $1-billion Skouries Project, as well as led the operational turnaround of the Kassandra Mines.
- Koch Industries (the largest privately held company in the US), at its subsidiary, Koch Ag. & Energy Solutions, where he helped execute the Enid Expansion Megaproject, at the time the largest capital project ever undertaken by the entire Koch Industries conglomerate.
- Mochica Resources and Calipuy Resources (private Peruvian gold mines) where he oversaw the development of various project portfolios.
Shane Williams - Strategic Advisor
Shane Williams carries a history of significant value creation in both early-stage and operating companies, which includes senior executive and management roles overseeing and delivering world-class, multibillion-dollar projects at highly prominent companies, including: chief operation officer at Skeena Resources (NYSE Listed), Eskay Creek Project; former senior vice-president at Eldorado Gold (NYSE Listed), $2-billion global project portfolio; former general manager of expansion projects at Rio Tinto (NYSE Listed), $2.5-billion CAPEX; and former vice-president of projects at Kaunis Iron AB, $800-million flagship Kaunisvarra Iron Ore Project.
Kevin Arias - Strategic Advisor
With over two decades of experience across industries such as mining, energy and corporate finance, Kevin Arias brings a wealth of knowledge and expertise to the company. His strong background in business development, investor relations, securities and corporate communications, combined with a proven track record in raising over C$100 million since 2008, positions him as a valuable addition to the Element79 team.
Element79 Gold Corp to Update Investors on the Emerging Growth Conference on October 31, 2024
Element79 Gold Corp (CSE:ELEM, OTC:ELMGF, FSE:7YS0), Element79 Gold Corp (the "Company") is pleased to announce that it will be giving an update on the Emerging Growth Conference on October 30, 2024.
The next Emerging Growth Conference is presenting on October 30, 2024. This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company's Ceo and Director, James Tworek, in real time.
To first view the Company's previous most recent corporate presentation, visit: https://www.element79.gold/_files/ugd/0feb69_1be1d43fae35466dbf69be18dd518121.pdf
James Tworek, CEO and Director of Element79 Gold Corp will present an update and may subsequently open the floor for questions. Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event and Mr. Tworek will do his best to get through as many of them as possible.
Element79 Gold Corp will be presenting at 3:40 PM Eastern time for approximately 10-12 minutes.
Please register here to ensure you are able to attend the conference and receive any updates that are released.
https://goto.webcasts.com/starthere.jsp?ei=1677197&tp_key=0c18189f2b&sti=elmgf
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel,
http://www.YouTube.com/EmergingGrowthConference . We will release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.
The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts.
All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
About Element79 Gold Corp.
Element79 Gold is a mining company with a focus on exploring and developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production at the mine and through reprocessing its tailings, in the near term.
The Company holds a portfolio of four properties along the Battle Mountain trend in Nevada, and the projects are believed to have significant potential for near-term resource development. The Company has retained the Clover project for resource development purposes and signed a binding agreement to sell three projects with a closing date on or before November 30, 2024.
The Company also holds an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process.
For more information about the Company, please visit www.element79.gold
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: jt@element79.gold
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note Regarding Forward Looking Statements
This press contains "forward‐looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2024 TheNewswire - All rights reserved.
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Presenting on the Emerging Growth Conference 76 Day 1 on October 30 Register Now
EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 76 th Emerging Growth Conference on October 30 & 31, 2024.
The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.
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Day 1
October 30, 2024
8:45
Virtual Lobby opens.
Register for the Conference. If you already registered, go back to the registration link and click "Already registered" and enter your email.
9:00
Introduction
9:05 – 9:35
Viomi Technology Co., Ltd. (NASDAQ: VIOT)
Keynote speakers: Claire Ji – IRD and Sam Yang, Head of Capital & Strategy
9:40 – 10:10
BioVaxys Technology Corp. (OTCQB: BVAXF) (CSE: BIOV)
Keynote speaker: James Passin, CEO
10:15 – 10:45
ASP Isotopes Inc. (NASDAQ: ASPI)
Keynote speaker: Paul Elliot Mann, CEO
10:50 - 11:20
Icon Energy Corp. (NASDAQ: ICON)
Keynote speakers: Ismini Evangelia Panagiotidi, CEO, Chairwoman & Dennis Psachos, CFO
11:25 - 11:55
Realbotix Corp. (OTCQB: XBOTF) (TSXV: XBOT)
Keynote speaker: Andrew Kiguel Co-Founder, CEO
12:00 – 12:30
RDE, Inc. (NASDAQ: GIFT)
Keynote speakers: Ketan Thakker, President & CEO, & Steve Handy – CFO
1:10 – 1:40
Energy Plug Technologies Corp. (OTCQB: PLGGF) (CSE: PLUG)
Keynote speakers: Broderick Gunning, CEO, Ramtin Rasoulinezhad, CTO, Chris Barnes, Chief of Staff
1:45 – 2:15
Sigyn Therapeutics, Inc. (OTCQB: SIGY)
Keynote speaker: James Allen Joyce, CEO
2:20 – 2:50
Regen BioPharma Inc. (OTC Pink: RGBP)
Keynote speakers: David Koos, President / CEO, and Harry M. Lander, Ph.D. Senior Scientific Consultant
2:55 – 3:05
Brenmiller Energy, Ltd. (NASDAQ: BNRG)
Keynote speaker: Nir Brenmiller, COO
3:10 - 3:20
Aethlon Medical, Inc. (NASDAQ: AEMD)
Keynote speakers: Jim Frakes – Acting CEO and CFO & Steven LaRosa – Chief Medical Officer
3:25 - 3:35
Diakonos Oncology, Inc.
Keynote speakers: Jay Hartenbach, COO, & Anthony Baldor, CFO & Head of Business Development
3:40 – 3:50
Element79 Gold Corp. (CSE: ELEM) (OTC PINK: ELMGF)
Keynote speaker: James Tworek, CEO
3:55 – 4:05
Stillwater Critical Minerals (OTCQB: PGEZF) (TSXV: PGE)
Keynote speaker: Michael Rowley, President & CEO
4:10 – 4:20
Vivani Medical, Inc. (NASDAQ: VANI)
Keynote speaker: Adam Mendelsohn PHD, CEO
4:25 – 4:35
BlueRush, Inc. (OTCQB: BTVRF) (TSXV: BTV)
Keynote speaker: Steve Taylor, CEO
4:40 – 4:50
Immuron Limited (NASDAQ: IMRN)
Keynote speaker: Steve Lydeamore, CEO
Day 2
October 31, 2024
11:00
Virtual Lobby opens.
Register for the Conference. If you already registered, go back to the registration link and click "Already registered" and enter your email.
11:20
Introduction
11:25 - 11:55
Monumental Energy Corp. (OTCQB: MNMRF) (TSXV: MNRG)
Keynote speakers: Maximilian Sali – VP Corporate Development Founder & Director
12:00 - 12:30
Vox Royalty Corp. (NASDAQ: VOXR) (TSX: VOXR)
Keynote speakers: Kyle Floyd, Chairman & CEO & Chief Investment Officer
12:35 – 1:05
Stuhini Explorations, Ltd. (OTCQB: STXPF) (TSXV: STU)
Keynote speaker: David O'Brien, President & CEO
1:10 - 1:40
Bioxytran, Inc. (OTCQB: BIXT)
Keynote speakers: Mike Sheikh, Executive Vice President Business Development
2:25 – 2:35
Citizens, Inc. (NYSE: CIA)
Keynote speakers: Jon Stenberg, President & CEO, and Jeff Conklin, CFO
2:40 – 2:50
Gossamer Bio, Inc. (NASDAQ: GOSS)
Keynote speaker: Bryan Giraudo, CFO & COO
2:55 – 3:05
Interstellar Communication Holdings
Keynote speakers: Seda Hewitt, Space Ambassador of IcMercury Harri Laitinen, Lifeguard of IcMercury, and Lijie Zhu, Capitan of icMercury
3:10 - 3:20
Sono Group N.V. (OTCQB: SEVCF)
Keynote speaker: George O'Leary, Managing Director, CEO and CFO
3:25 - 3:35
Cyios Corp. (OTC Pink: CYIO)
Keynote speaker: John O'Shea, Chairman
3:40 – 3:50
NurExone Biologic Inc. (OTCQB: NRXBF) (TSXV: NRX)
Keynote speaker: Dr. Lior Shaltiel, CEO
3:55 – 4:05
Evanesce
Keynote speaker: Douglas Horne, Founder & CEO
4:10 – 4:20
LeddarTech Holdings, Inc. (NASDAQ: LDTC)
Keynote speakers: Frantz Saintellemy – CEO & Chris Stewart, CFO
4:25 – 4:35
NCS Multistage Holdings, Inc. (NASDAQ: NCSM)
Keynote speaker: Ryan Hummer, CEO & Director
4:40 – 4:50
EUDA Health Holdings Limited, (NASDAQ: EUDA)
Keynote speaker: Kelvin Chen, CEO
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Founded in 2009, Emerging Growth.com quickly became a leader in its space and has developed an extensive history of identifying emerging growth companies that can be overlooked by the investment community.
About the Emerging Growth Conference
The Emerging Growth Conference is an effective way for public companies to engage with the investment community regarding their Company, new products, services and other major announcements from anywhere, in an effective and time efficient manner.
All sessions are conducted through video webcasts. Our conference serves as a vehicle for Emerging Growth to build relationships with our existing and potential clients. Accordingly, a certain number of the presenting companies are our current clients, and some may become our clients in the future. In exchange for services we provide, our clients pay us fees in the form of cash and securities, and we may currently have, or in the future may have investments in the securities of certain of the presenting companies. Finally, certain of the presenting companies have paid us a fee to secure a presentation time slot or to present generally. The presentations to be delivered by the presenting companies (including any virtual handouts of written materials) have not been approved, endorsed by or otherwise reviewed by EmergingGrowth.com nor should they in any way be construed to have been made in connection with an offer to sell or a solicitation of an offer to buy securities. Please consult an investment professional before investing in anything viewed on the Emerging Growth Conference or on EmergingGrowth.com.
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Element79 Announces Private Placement
VANCOUVER, BC T he N ewswire October 25, 2024 Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS) ("Element79", or the "Company ") is pleased to announce it is launching a non-brokered private placement of up to 10,000,000 units (the "Units"), at a price of $0.10 per Unit for gross proceeds of up to $1,000,000 (the "Offering"). The Units will consist of one common share of the Company ("Share") and one share purchase warrant ("Warrant"). Each Warrant will be exercisable by the warrant holder to acquire one (1) additional Share at a price of CAD$0.15 for a period of 24 months from the closing of the Offering.
The Warrants are subject to an acceleration clause, whereby if the closing price of the common shares of the Company on the Canadian Securities Exchange (the "CSE") is equal to $0.20 or higher for ten consecutive trading days, the Company may accelerate the expiry of the Warrants to the date that is 30 business days from the date of the issuance of a news release by the Company announcing the exercise of the acceleration right.
Element79 will use the net proceeds from the Offering with a targeted 70% to be invested into projects (85% Lucero, 15% Clover), 15% for corporate operations/audit and 15% to Investor Relations/Marketing.
The issuance of securities in connection with this Offering will be subject to Canadian Securities Exchange approval and the securities will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable Canadian securities laws.
About Element79 Gold Corp.
Element79 Gold is a mining company with a focus on exploring and developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production at the mine and through reprocessing its tailings, in the near term.
The Company holds a portfolio of four properties along the Battle Mountain trend in Nevada, and the projects are believed to have significant potential for near-term resource development. The Company has retained the Clover project for resource development purposes and signed a binding agreement to sell three projects with a closing date on or before November 30, 2024.
The Company also holds an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process.
For more information about the Company, please visit www.element79.gold
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: jt@element79.gold
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note Regarding Forward Looking Statements
This press contains "forward‐looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2024 TheNewswire - All rights reserved.
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Element79 Gold Corp Shares Further Advances With Chachas Community on Lucero Surface Rights, Provides Corporate Update
(TheNewswire)
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VANCOUVER, BC - T heNewswire - October 24, 2024 *Element79 Gold Corp.* (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) ("Element79" or the "Company") is pleased to announce additional progress towards obtaining approval of its surface rights contract at the Lucero project in Peru, through ongoing community engagement and recent approval at the Chachas General Assembly.
Since acquiring the Lucero mineral rights in mid-2022, Element79 Gold has actively engaged with the Chachas community to secure support critical for project success. On October 6, 2024 , after more than 18 months of outreach and collaboration, the Company received over 75% approval from the community for its operational initiatives. This approval paves the way for the negotiation of a 5-year revolving surface rights access agreement.
The formal request for surface rights was received and officially recognized by the Chachas administration on October 18, 2024, with contract negotiations expected to be finalized by the end of the year. Several other mining projects in the region are undergoing similar approvals, and the Chachas administration is anticipated to approve multiple projects in parallel by year-end. The GAE Consultores team that has been successful in achieving these recent milestones is back in the community starting this week, to continue the drive towards negotiating and forging the required agreements between the Chachas community, the artisanal mining association Lomas Doradas and Element79 Gold Corp.
Element79 CEO and Director James Tworek stated "While we are seeing snow start in Nevada for the year, and being in the final queue towards completing our surface rights contracts with Chachas and Lomas Doradas, we turn our attention to advancing the most tangible near-term resource development and revenue generation project in our portfolio, the Lucero Tailings, to work on through the winter. We believe the data gathering for this project will be fastest and easiest to achieve given the four piles of tailings are easily accessible for auguring. While the lab tests, metallurgy and testing of innovative technologies to process the tailings are underway, the planning of work flow on the project from building the plant to processing and retiring the tailings in their final resting places will carry on through the winter, along with processes to permit the construction of the plant. We are excited to get started on this high-value initiative, and will be reporting through its multiple processes unfolding over time."
Lucero Tailings Project overview
As a first step upon completion of the contracts with Chachas and Lomas Doradas, the Company intends to focus its energies on the Lucero Tailings project, which holds approximately 1.3 million metric tons (MMT) of flotation-treated, dry-stacked tailings estimated to yield around 50,000 ounces of gold equivalent, the Company is undertaking a 43-101 compliant Mineral Resource Estimate and a Pre-Economic Assessment (PEA) on the tailings. These studies will assess the Tailings project's value today, economic viability, process flow, and capacity for up to 2.5MMT of tailings to account for both current and future material.
Element79 is also focused on securing permits from the state of Arequipa for the construction of an on-site processing plant. The Company has already been in contact with the proper departments of the State of Arequipa regarding permitting approval and will formally start the estimated 4–6-month process to obtain this permit upon completion of the agreements with Chachas. This timeline dovetails with the rainy season that prevents access to the Lucero mine from December to April given its current level of infrastructure. Once approvals are in place, plant construction is estimated to take approximately 90 days. The plant will not only process tailings materials but can also expand to include raw ore milling and flotation, improving efficiency and reducing multiple costs for both Element79 and local artisanal miners.
Recent Corporate Updates
Pursuant to its press release of October 7, 2024, the Company has issued 7,862,421 common shares to certain of its creditors (the "Settlement Shares") in exchange for outstanding accounts payable (the "Shares for Debt Transaction") in the aggregate amount of CA$1,022,115 (the "Debt") owing to certain creditors (the "Creditors"), primarily management, board of directors and principal consultants of the Company for backdated pay. The Settlement Shares are being issued at a price of $0.13, in accordance with the policies of the Canadian Securities Exchange (the "CSE").
As previously announced the Company is completing the Shares for Debt Transaction to improve its financial position by reducing its existing liabilities. All Settlement Shares will be subject to a four-month and one-day hold period. No new control person of the Company will be created pursuant to the Shares for Debt Transaction. The Shares for Debt Transaction constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61101") as Stack Asset Management Ltd., a company controlled by James Tworek (CEO and Director of the Corporation); Neil Pettigrew, (Director of the Corporation); Frontier Advisory (a corporation controlled by Warren Levy, Director of the Corporation); Zara Kanji, (Director of the Corporation); Tammy Gillis (CFO of the Corporation); Monita Faris, (Corporate Secretary of the Corporation); and Dry Gulch Investments LLC (a corporation controlled by Kim Kirkland, Chief Operating Officer of the Corporation), have all been issued Settlement Shares in connection with the debt settlement. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the shares for debt transaction with the forgoing insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the debt settlement, which the Company deems reasonable in the circumstances as the Company wishes to improve its financial position by reducing its existing liabilities.
The Company did not file a material change report more than 21 days before the expected closing of the Shares for Debt Transaction, which it considers reasonable in the circumstances, as the participation in the transaction by a related party of the Company was not definitive until shortly prior to the closing of the Shares for Debt Transaction and the Company was attempting to close the transaction expeditiously.
About Element79 Gold Corp.
Element79 Gold is a mining company focused on gold and silver, committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. Element79 Gold's focus is on developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production in 2025.
The Company also holds a portfolio of 5 properties along the Battle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant potential for near-term resource development. Three properties in the Battle Mountain Portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date in the first half of 2024.
The Company has an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process.
For more information about the Company, please visit www.element79.gold
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: jt@element79.gold
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note Regarding Forward Looking Statements
This press contains "forward‐looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru
(TheNewswire)
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October 9, 2024 TheNewswire - Vancouver, B.C. Element79 Gold Corp. (CSE: ELEM) (FSE: 7YS0) (OTC: ELMGF) ("Element79" or the "Company") is pleased to announce significant progress in its ongoing community engagement efforts with the community of Chachas, Peru, near the Company's Lucero Project. These efforts are part of the Company's broader strategy to align mining operations with sustainable community development and long-term value creation.
On October 6, 2024, Element79 representatives, including Rolando Hinostroza and Cesar Cuadros, addressed over 1,000 residents at a semi-annual General Assembly held in the annex of Huarocopalca.
This event was a key step in strengthening the relationship between the Company and local stakeholders. The Element79 team was successful in advancing dialogue, as part of the approval process of the Company's surface rights access for restarting the Lucero Mine. Included in this general dialogue is the prospect of building a processing plant, subject to final terms being agreed to.
James Tworek, Element79 Gold Corp CEO and Director stated: "We are grateful to have reached this important milestone with the community. It is a complex process building relationships, trust and mutual understanding. This vote in our favour shows that the majority of the greater Chachas community is pro-mining and pro-Element79 in concept today. We will be proceeding with final negotiations, with the end goal being our enhanced investment in operations at Lucero, cognizant that past mining operators in the region have left precedents leading to hard feelings, and since that era, there is a contingent of local miners who have been working independently of mineral right holders for over a decade. We are comparatively new to the region, with the intent to abide by the federal and state rules as we restart operations at Lucero. Element79 Gold Corp is committed to working with the local miners to help improve the conditions of the mine operations, and the techniques used at Lucero to optimize production while upholding the federal standards." Tworek continued: "Building up to this General Assembly meeting, our community team has been working earnestly for months, building and sharing with many Residents of the greater Chachas community. It is a testament to their experience and hard work to have reached this formal point of community approval of the Company's rights, presence and intentions, and we look forward to whittling down terms to final contracts and timing to get back to work at Lucero in the most efficient and effective way possible."
Advancing Community Development
Over the past several months, the Company has worked closely with the community of Chachas and its annexes—Nahuira, Tolconi, Chua, Checotaña, Huarocopalca, Layo, and Anaro—aligning both communal and corporate initiatives, including discussing contractual terms from both sides, to foster long-term development.
These efforts, along with the community decision to approve Element79 Gold Corp's surface rights access in the General Assembly, subject to final negotiations, have culminated in the establishment of a "Dialogue and Negotiation Table" between the Company and the Chachas community over the multiple facets of the Lucero Mine restart project.
This Dialogue and Negotiation Table will facilitate discussions on critical issues such as co-operative use of the infrastructure, and land-use agreements for surface mining activities. Participants will include key local organizations such as the Local Administration Boards (JAL), the Communal Board of Directors, and the Lomas Doradas Association, alongside community leaders and other advisors.
Sr. Melitón Raymundo Carhua Condori, the Communal President of Chachas, urged residents to support this opportunity for collaboration, noting the importance of reaching a Formalization Agreement for the use of surface lands and co-operation between its users. The Company aims to secure Formalization between local miners who currently operate under the REINFO program and the mineral right holders such as Element79 Gold Corp, providing a pathway for legal mining operations and mutual benefit into the future.
Next Steps for the Lucero Project
The Company is committed to finalizing the terms of surface land-use agreements as soon as possible, anticipated to be around the end of 2024. These agreements, once approved by the Communal Assembly, will ensure that the project aligns with the community's interests and promotes sustainable, long-term growth.
In support of this process, Element79 has already presented a comprehensive territorial development plan to the communities including mining existing workings, underground and surface drilling, exploration, and building a regional plant for processing ore from the mine and the tailings (tailings business outlined in the Company's news release from September 26, 2024 . This proposal focuses on mutual benefit and value, recognizing the unique needs of the region and the long-term benefits of collaboration between the Company and local stakeholders.
Additionally, the Lomas Doradas Association, representing communal miners working under the REINFO program, has been fully integrated into the negotiation process. These miners are focused on obtaining formal contracts to legitimize their operations, which will ensure compliance with federal, state and local regulations and open opportunities for future development.
The Company is also working closely with the Peruvian Regional Directorate of Energy and Mines (DREM) in Arequipa to expedite the Formalization process for these mining operations.
Ongoing Engagement and Investor Outlook
Element79 remains fully committed to maintaining strong communication and engagement with the Chachas community throughout the negotiation process. The Company has established a permanent Sustainability Office in Chachas, staffed by a local teammate, who will manage community relations while senior personnel are off-site.
Investors should watch for upcoming developments as Element79 works to finalize land-use agreements by year-end and advance formalization efforts for local miners. The Company's successful collaboration with the community is expected to enhance the value of the Minas Lucero Project and contribute to long-term growth and sustainability.
About Element79 Gold Corp.
Element79 Gold is a mining company focused on exploring and developing its past-producing, high-grade gold and silver mine, the Lucero Project, located in Arequipa, Peru, with the intent to restart production in the near term.
The Company holds a portfolio of four properties along the Battle Mountain trend in Nevada, which are believed to have significant potential for near-term resource development. Element79 has retained the Clover project for resource development purposes and signed a binding agreement to sell three projects, with the closing date expected on or before November 30, 2024.
The Company also holds an option to acquire a 100% interest in the Dale Property, which includes 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario. Recently, Element79 announced the transfer of this project to its wholly owned subsidiary, Synergy Metals Corp, as it advances through the Plan of Arrangement spin-out process.
For more information about the Company, please visit www.element79.gold
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer and Director
E-mail: jt@element79.gold
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects, or opportunities, which are based on management's forecasts and assumptions made considering experience, historical trends, current conditions, and expected future developments. Forward-looking statements include, but are not limited to, statements regarding the Company's business strategy, future planning, exploration activities, capital projects, acquisition opportunities, and their potential impact.
Assumptions may prove incorrect, and actual results may differ materially. Investors should not place undue reliance on these statements, as no guarantees can be made. Forward-looking statements are subject to risks and uncertainties, such as the effects of COVID-19, changes in project parameters, commodity price fluctuations, local government relations, environmental risks, and other factors discussed in the Company's public filings available on www.sedarplus.ca
Although the Company believes its expectations are reasonable, there can be no assurance that forward-looking statements will be correct. These statements speak only as of the date hereof. The Company assumes no obligation to update forward-looking statements, except as required by law.
Neither the Canadian Securities Exchange nor the Market Regulator (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Far Northern Resources September 2024 Quarterly Report
Highlights Project: The Empire Projects / Chillagoe, North Queensland
- Completion of drilling in North Queensland.
- In the process of updating the Resource Model at Empire.
- Base Case Sensitivity Analysis of Empire North underway.
Drilling Results
Six RC drill holes were completed, all of which intercepted high-grade quartz veins in line with the previous modelling.
The following assay results were announced to the market on 13 September1
- 4m @ 1.24g/t Au from 28m in FNRRC031 (incl. 1m @ 2.90 g/t Au)
- 1m @ 1.20g/t Au from 43m in FNRRC031
- 1m @ 1.01g/t Au from 13m in FNRRC032
- 3m @ 0.93g/t Au from 50m in FNRRC032
- 1m @ 14.96g/t Au from 9m in FNRRC033
- 1m @ 9.05g/t Au from 44m in FNRRC033
- 1m @ 2.49g/t Au from 11m in FNRRC034
- 8m @ 3.03g/t Au from 18m in FNRRC034 (incl. 5m @ 4.31 g/t Au)
- 1m @ 1.32g/t Au from 32m in FNRRC034
- 1m @ 1.02g/t Au from 41m in FNRRC034
- 1m @ 2.80g/t Au from 0m in FNRRC035
- 1m @ 1.45g/t Au from 11m in FNRRC035
- 1m @ 1.24g/t Au from 14m in FNRRC035
- 6m @ 1.23g/t Au from 29m in FNRRC035
- 1m @ 1.30g/t Au from 32m in FNRRC036
These intercepts demonstrate the continuity of high-grade mineralization within the Empire Stockworks, supporting the potential for future mining operations. The assays will be fed into an updated resource and economic model to reflect current gold prices, forming the basis for future feasibility studies.
Far Northern Resources Mineral Resources as at the date of fnr’s prospectus
These figures provide an important foundation as the Company looks to future expansion.
Strategic Positioning
FNR is in a strong position to advance the Empire Project, given its proximity to a mill located less than 20 km from the current mining lease. The mill access greatly enhances the economic feasibility of mining operations and will be crucial as the company moves into more advanced feasibility studies.
Looking Forward
The FNR team remains excited about the exploration potential at the Empire Stockworks. With the deposit still open at depth and along strike, the board is confident that additional drilling will continue to expand the resource base. The securing of funding from the IPO for ongoing exploration activities has ensured that the Company can continue developing the project with the aim of establishing FNR’s first operational mine.
Conclusion
The results from the 2024 drilling campaign have provided valuable new data, confirmed the presence of high-grade gold mineralization and enhanced the Company’s resource model. FNR will continue to focus on exploration at the Empire Project, with the goal of moving toward full feasibility and mining operations in the coming years.
Click here for the full ASX Release
This article includes content from Far Northern Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Historical Gold Mineralisation identified at Flicka Lake
HIGHLIGHTS
- Recently completed desktop study has identified three parallel quartz veins, which have been targeted with grab rock samples at Flicka Lake Project in Canada
- Historical exploration identified gold bearing channel samples including 9.96 g/t Au and 12.96 g/t Au
- Previously reported grab samples included 17.88 g/t, 7.38 g/t and 20.07 g/t of Au
- Flicka Lake Gold Sampling Program Assay Results expected to be received shortly
While gold mineralisation has shown to be historically reported in the area, reportable validation sampling was completed in 2002 and 2006. Previous exploration targeted the Flicka Lake area based on the proximity to the Golden Patricia Mine located 25 km to the Northeast, where a shear hosted quartz vein averaging less than 40cm in width had been mined. The review identified the following results.
Grab sampling:
- At Vein #1, reported up to 17.88 g/t Au
- At Vein # 2, reported up to 7.38 g/t Au
- The best exposed zone, Vein #3 reported the highest assay result of 20.07 g/t Au
Channel samples:
- At Vein #2, reported up to 12.96 g/t Au
- At Vein #3, reported up to 9.96 g/t Au
The occurrence at Flicka Lake consists of 3 gold-bearing structures of limited extent hosted by gabbroic rocks that strike perpendicular to the main shear zones in the area and dip 55° to 65° to the east. The veins pinch and swell (up to 30 cm wide) and are hosted in discrete, highly strained, carbonate-actinolite-tourmaline arsenopyrite altered zones (~1.5 m wide). Refer to Figure 1 and Table 1.
RMX acquired the Flicka Lake claim, 855170, over the mineralised veins and has since undertaken due diligence with 11 rock and 11 soil samples collected within the claim boundary, Map 2.
Figure 1: Flicka Lake Claim area with historical channel and grab samples results in ppm Au (equivalent to g/t Au)
RMX has since completed its maiden sampling program at Flicka Lake, part of the Fry Lake Gold Project in Ontario, Canada. Results are expected shortly for 283 soil and 91 rock chip samples over its Flicka Lake claims which included due diligence sampling at the Flicka Lake gold bearing quartz veins as well comprehensive sampling over the claim area’s structural and geophysical targets (Figure 2 & Tables 2/3). The review has identified additional key target zones for anomalous copper towards the Northern portion of Flicka Lake. The Lab analysis, of which results are due to be received shortly, includes a gold and base metals suite also attempting to define areas for copper mineralisation.
Figure 2: Sampling targets based on geological, structural, geophysical and historical sampling data.
Background
The Flicka Lake claims lie within the Meen-Dempster Greenstone Belt and is one of four recently acquired claim packages (Figure 3) considered prospective for gold. The four 100% RMX owned properties, named Flicka Lake, Fry Lake Stock, Fry-McVean Shear and Relyea Porphyry or collectively the Fry Lake Projects, hold potential to host gold lode mineralisation based on targeting and the known deposits in the broader area. The Fry Lake Projects are located in the Uchi region, a prolific mineral belt which has produced 32Moz Au to date1.
Click here for the full ASX Release
This article includes content from Red Mountain Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Ashburton Mineralisation Expands as Project Delivers Wide and High-Grade Uranium Drill Results
HIGHLIGHTS
- ADD003 has delivered the widest intersection recorded to date with a 39m intersection immediately above the Proterozoic unconformity.
- Equivalent U3O8 concentration from recent drillholes include:
ADD003 39.28m @ 553 ppm eU3O8 from 124.12m
incl 1.28m @ 1,460 ppm eU3O8 from 125.46m and 0.84m @ 1,184 ppm eU3O8 from 151.54m and 2.42m @ 2,681 ppm eU3O8 from 155.10m and 1.90m @ 2,215 ppm eU3O8 from 161.40m
ARC0083.86m @ 720 ppm eU3O8 from 137.36m
ARCD0056.50m @ 639 ppm eU3O8 from 115.23m
incl 3.02m @ 930 ppm eU3O8 from 115.23m
ADD00510.48m @ 1412 ppm eU3O8 from 114.30m
incl 2.04m @ 3508 ppm eU3O8 from 115.72m and 0.50m @ 2911 ppm eU3O8 from 119.28m
4.08m @ 2075 ppm eU3O8 from 141.94m incl 2.04m @ 2875 ppm eU3O8 from 142.10m
1.04m @ 1918 ppm eU3O8 from 145.80m
1.04m @ 1103 ppm eU3O8 from 148.44m
- Analyses of the drill core has
1. demonstrated a northwest structural control on mineralisation
2. mineralisation along the unconformity and
3. within the overlying sandstone and the basement.
The combined reverse circulation and diamond drilling programme has exceeded the Company’s expectations, having met its original aims of confirming historical results, testing the potential northwest structural control of mineralisation, and expanding the known uranium mineralised envelope.
Results from the drilling are included in Table 1 with the drill hole details in Table 2. In total, 1,776m of reverse circulation drilling and 1,147m of diamond drilling have been completed for a total of 18 holes.
Drilling at Angelo A has confirmed the continuity of mineralisation, identified a steeply dipping mineralised structure and highlighted the undulating nature of the Proterozoic unconformity (Figure 1). A potential northwest trending structure containing uranium mineralisation was intersected between ARC004 and ARC006.
Evidence of a mineralised northwest oriented structure was encountered in ADD001, located over 1km to the northwest of Angelo A. Structural logging of this hole highlighted a shallow dipping (35 degrees) mineralised structural trending to the northwest.
The drilling programme has also confirmed historical drill results from over 40 years ago.
Figure 1: Simplified Long Section C’ of Angelo A highlighting the flat lying nature of uranium mineralisation, with steeply dipping structures between ARC004 and ARC006.
Diamond drill hole ADD003 identified 39.28 metres of uranium mineralisation (Figure 2), highlighting the potential to expand the area of mineralisation at both the Angelo A & B prospects, and along strike to the northwest and southeast.
Additionally, high grade uranium results may represent steeply dipping zones intersecting the flatter lying unconformity hosted mineralisation. The zone of uranium mineralisation in Section A’ is exceeds 100m wide and varies in thickness up to 39m. Mineralisation is continuous along strike with further drilling required to determine it’s extent and continuity.
Click here for the full ASX Release
This article includes content from Piche Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Newmont Receives First Battery-Electric Large Mining Truck
The addition of the Cat truck to Newmont's fleet reflects commitment to implementing more sustainable mining practices
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) ("Newmont") today announces the commissioning of its first battery-electric large mining truck at the Cripple Creek and Victor (CC&V) mine in Teller County, Colorado, U.S. The vehicle, dubbed the Early Learner Cat® 793 XE, is an important milestone for Newmont, made possible through its strategic alliance with Caterpillar Inc.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241029254346/en/
"The arrival of the Early Learner Cat 793 XE underscores our ongoing commitment to reducing greenhouse gas (GHG) emissions across our business," said Natascha Viljoen, Chief Operating Officer at Newmont. "As we look toward the future, our focus remains on creating a safer and more productive mining environment and this battery-electric large mining truck is one more step we are taking to further advance our safety and sustainability commitments."
Currently, surface and underground mining diesel combustion machines are responsible for a significant portion of Newmont's carbon emissions. Introducing innovative solutions like the Early Learner 793 XE at the mine-site level demonstrates our ongoing commitment towards reducing emissions.
"As the mining industry navigates the energy transition, we know a diverse set of solutions will be required for our customers to achieve their operational and sustainability objectives," said Denise Johnson, Group President of Resource Industries, Caterpillar. "We are excited about our collaboration with Newmont and working with them to truly understand the implementation and impact of the Early Learner 793 XE at CC&V."
Newmont and Caterpillar will focus on validating and testing the Early Learner 793 XE. These efforts will provide insights into how mining operations can incorporate battery-electric large mining trucks, setting a new standard for the industry.
To learn more about Newmont's strategic alliance with CAT click here .
About Newmont
Newmont is the world's leading gold company and producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029254346/en/
Media Contact:
Jennifer Pakradooni
globalcommunications@newmont.com
Investor Contact:
Neil Backhouse
investor.relations@newmont.com
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