Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to announce that it has acquired an option to earn a 100% ownership in the former Minto Gold Mine, Olympic and Kelvin gold prospects contained within a parcel of crown grants and mineral claims (the "Olympic Claims"). The Olympic Claims are located immediately adjoining and contiguous with the Company's previously owned Reliance Gold Property (the "Reliance Property") in southern British Columbia. The enlarged road-accessible Reliance Property, including the Olympic Claims, is located 4 kilometers ("km") east of the village of Gold Bridge, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.
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Endurance Gold Announces Closing of Over Subscribed Non-Brokered Private Placement
Endurance Gold Corporation(TSXV: EDG) ("Endurance or the "Company") is pleased to announce that it has closed its non-brokered private placement financing (the "Financing"). The Financing was originally announced on January 31, 2022 for gross proceeds of up to $2,500,000 through the sale of 6,250,000 units (each, a "Unit") at a $0.40 per Unit. After receiving expressions of interest that exceeded the originally announced Financing amount, the Company announced on February 7, 2022 that the Financing would be increased to $3,000,000 on the same terms.
The Company closed the Financing on February 11th and issued a total of 7,637,500 Units at a price of $0.40 per Unit for gross proceeds of $3,055,000 which exceeded the increased amount announced on February 7th. Each Unit is comprised of one common share (each, a "Share") and one-half non-transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder to purchase one Share at an exercise price of $0.55 per Share until February 12, 2024. The proceeds from the Financing will be used to fund the Company's exploration activities and for general corporate purposes.
"We look forward to another productive exploration year at the Reliance Property using the proceeds from this Financing," stated Robert T. Boyd, President & CEO. "We are also pleased to welcome new shareholder Evanachan Limited, a corporation controlled by Mr. Robert McEwen, which subscribed to about 50% of the Offering."
Insiders of the Company purchased an aggregate of 937,500 Units in the Financing. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.
In connection with the Financing, the Company has paid aggregate cash finders' fees of $132,000 and issued an aggregate of 165,000 finder warrants (the "Finder Warrants") to eligible finders, consisting of Agentis Exempt Market Dealer Limited Partnership and MPartners Inc. Each Finder Warrant will entitle the finder to purchase one Share at an exercise price of $0.40 per Share until February 12, 2024. All securities issued in connection with the closing of the Financing (including the Finder Warrants) are subject to a statutory hold period of four months plus one day expiring on Monday, June 13, 2022. The Financing remains subject to the final approval of the Exchange. None of the Shares or Warrants have been or will be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would require registration or otherwise be unlawful.
ENDURANCE GOLD CORPORATION
Robert T. Boyd, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com - www.endurancegold.com
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
Endurance Doubles The Size of The Reliance Gold Property, B.C.
Highlights of the transaction include:
- More than doubles the size of the Reliance Property and adds a portfolio of relatively under-explored orogenic gold prospects that have not been evaluated with modern exploration methods.
- Delivers additional excellent exploration potential without distracting from the Company's priority in advancing the Eagle Area discoveries along the Royal Shear Trend on the Reliance Property.
- Offers the owner of the Olympic Claims the opportunity to unlock unrealized value of the Olympic Claims, to participate in potential future exploration success at the combined Reliance Property, and an option to equity fund any success at a fixed price.
- Acquisition of 100% ownership with the option for the Company to purchase the entire retained royalty.
- The Olympic Claims and the Reliance Property location map is attached below and on the Company website.
The Olympic Claims are owned by Avino Silver & Gold Mines Ltd. ("Avino") and are located on the north and south shores of BC Hydro's Carpenter Lake Reservoir in the Bridge River Valley, east of the Royal Shear trend and the Company's current drilling focus. The year-round road-accessible acquisition increases the size of the Reliance Property to approximately 2,475 hectares, more than doubling the mineral rights controlled by the Company.
The Olympic Claims are underlain by "epizonal" orogenic-type gold targets that include the former producing Minto Mine that has produced 17,500 ounces of gold at an average grade of 6.3 grams per tonne ("gpt") gold prior to World War II. In addition, there are eleven historic government-documented mineral occurrences on the Olympic Claims which include the Minto North, Dauntless, Kelvin and Olympic gold prospects, many of which have also been explored with small underground workings prior to World War II. These prospects are associated with regional-scale structural deformation and/or iron carbonate alteration with analogies to the recent discoveries by the Company at the Eagle and Imperial zones, but on sub-parallel regional structures.
As examples of the gold potential of the Olympic Claims, in 2005 Avino reported 14.76 gpt gold over 9.0 metres ("m") (estimated true width of 4.5 m) from chip samples in trenching on the Minto North target. At the Olympic Target, 1988 drilling reportedly intersected 8.2 gpt gold over 3.48 m. As part of the Option, the Company intends to initiate an early-stage 2022 exploration program of systematic biogeochemical and soil sampling to help prioritize targets for future work.
Under the terms of the letter agreement with Avino, the Company can earn a 100% interest in the Olympic Claims for:
- A total cash consideration in the aggregate amount of $100,000;
- the allotment and issuance of up to a total of 1,500,000 common shares ('Shares') of the Company; and
- exploration expenditures in the aggregate amount of $300,000.
- all to be incurred by December 31, 2024.
On vesting its ownership interest, the Olympic Claims will be subject to a 2% net smelter return royalty ("NSR"), of which 1% NSR can be purchased by the Company for $750,000 and the remaining balance of the NSR can be purchased for $1,000,000.
As part of the final requirement to earn its interest, the Company agreed to grant to Avino 750,000 share purchase warrants ("Warrants") by December 31, 2024 that offer Avino the option to purchase additional shares in the Company for a period of three years from the date of issuance. The exercise price of the Warrants will be set at a 25% premium to the 20-day VWAP share price at the issuance date. During the Option, if the Company is successful in defining a compliant mineral resource of at least 500,000 gold-equivalent ounces on the Olympic Claims then the Company will be obliged to pay Avino a $1,000,000 discovery bonus.
The Option agreement is subject to the TSX Venture Exchange acceptance, and any Shares or Warrants to be issued will be subject to a four-month hold period on issuance as per the policies of the TSX Venture Exchange.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.
Robert T. Boyd, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporationwww.endurancegold.com
Toll Free: (877) 624 2237, info@endurancegold.com
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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
The Reliance Property B.C. - Location of Olympic Claims and the Original Reliance Option
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Endurance Commences Drilling Program at the Reliance Gold Property, B.C.
Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to announce that drilling has commenced at the Reliance Gold Property (the "Property") in southern British Columbia with the first drill rig arriving on April 20. A second rig is anticipated to commence in about five weeks. The road accessible Property is located 4 kilometres ("km") east of the village of Gold Bridge, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.
The planned 2022 program consists of reverse circulation ("RC") and diamond drilling designed to expand the 2021 drill discovery at Eagle South which returned 15.70 grams per tonnes ("gpt") goldover 24.8 metres ("m") at shallow depth in DDH21-020 (reported January 12, 2022),and at the Eagle Zone which returned 8.62 gpt gold over 24.4 m from DDH21-006 (reported December 29, 2021). At the Eagle Zone, recent drilling results by the Company have defined a near-surface, shallow dipping zone of 250 m by 150 m in size with a weighted average grade of 5.13 gpt gold and average estimated true width of 11.2 m. The Eagle mineralized zones continue to be open to the southeast and to depth. Soil sampling, biogeochemical sampling, and surface grab samples of up to 21.2 gpt gold (reported January 5, 2022) indicate the potential to expand the combined Eagle mineralized zones to a minimum 400 m strike length. Channel sampling of these new surface prospects discovered in November 2021 will be completed in the next few weeks.
The 2022 RC drilling program is budgeted to complete about 40 holes, with a planned drilling depth of 70 m at each hole, over a six-week period. The diamond drilling program is budgeted for a minimum 8,000 m program. In addition to expanding the Eagle Zones, the 2022 program will drill test several targets along the Treasure Shear and the 2.0 km long Royal Shear. RC drilling has commenced at the Bona prospect on the Treasure Shear where channel sampling returned 4.43 gpt gold over 8.5 m (reported September 13, 2021).
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.
Robert T. Boyd, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporationwww.endurancegold.com
Toll Free: (877) 624 2237, info@endurancegold.com
Diamond drill core is logged and evaluated on the Property and samples designated for collection under the supervision of a geologist at the property. Drilling is completed with NQ size tools capable of collecting 4.76 cm diameter core. Diamond drill core is cut using a diamond drill saw with one half of the core sent for analysis and the remaining kept for future studies. Sample intervals are typically 2 metre core length and intervals are shortened for lithology or alteration changes. For drilled and sampled intervals of poor average core recovery, the complete core is sampled and sent to the laboratory for assay analysis. RC samples are collected under the supervision of a geologist at the drilling rig. Drilling is completed using a 3.5 inch hammer bit and rock chip samples are collected using a cyclone. Sample size are reduced to 1/8th size with a riffle splitter at the drilling rig. A second duplicate split and coarse chips are collected for reference material and stored.
All core and RC samples are submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they are crushed to 70%
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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
Reliance Property B.C. - RC22-001 - The Initial 2022 RC Drill Hole on the Treasure Structural trend
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Endurance Gold Announces DTC Eligibility for its Common Shares and Berlin Open Market Acceptance
Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (BE: 3EG) ("Endurance or the "Company") is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States. DTC eligibility will enable an accelerated settlement process and the Companies shares to be economically transferred between brokerage accounts electronically within the United States. The company's common shares trade on the OTC Pink under the ticker symbol ENDGF.
In addition, the Company was sponsored by a German financial institution and has been accepted for listing of its shares on the Berlin Open Market with the Company's common shares trading in Germany under the ticker symbol 3EG.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible". DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company's common shares in the United States.
With the DTC eligibility existing US-resident investors benefit from potentially greater liquidity and faster execution speeds. This also opens the door to new US investors that may have been previously restricted from purchasing the Company's common shares and simplifies the process of trading them in the United States.
European and German investors have been showing interest in the Company. Thus, including the Company for trading on the Berlin Open Market offers European and German investors the possibility to trade in the Company shares within a local and familiar legal environment. Inclusion in the Berlin Open Markets is not considered an admission to trading or a formal German exchange listing.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits. The companies core funding focus is the Reliance Gold Project located near Gold Bridge, BC in the Bralorne Gold Camp.
Robert T. Boyd, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com - www.endurancegold.com
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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Endurance Gold Increases Non-Brokered Private Placement to $3 Million
Endurance Gold Corporation (TSXV: EDG) ("Endurance or the "Company") is pleased to announce plans to increase the size of the non-brokered private placement previously announced on January 31, 2022 with about 50% participation by Evanachan Limited, a company controlled by Robert McEwen.
The Company intends to increase the non-brokered private placement of 6,250,000 units (each, a "Unit") to up to 7,500,000 Units for increased gross proceeds of up to $3.0 million (the "Offering"). Each Unit remains at a price of $0.40 per Unit. Other than the size of the Offering increase, all the terms remain the same as announced on January 31, 2022. Each Unit will consist of one common share (each, a "Share") and one-half non-transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional Share of the Company at an exercise price of $0.55 for a period of two years from the date of issuance thereof. Proceeds raised from the sale of the Units will be used by the Company for exploration activities and for general corporate purposes.
The Offering is made to accredited investors within the meaning of National Instrument 45-106 and the completion of the Offering is subject to the receipt of acceptance by the TSX Venture Exchange (the "Exchange"). All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months plus one day from the Closing. Finders' fees may be payable in connection with the sale of the Units in accordance with the policies of the Exchange.
"We have received significant interest in our financing from sophisticated investors and, amongst others, are very pleased to welcome Evanachan Limited, a corporation controlled by Mr. Robert McEwen, which committed to subscribe for 3,750,000 Units, about 50% the increased Offering," stated Robert T. Boyd, President & CEO.
Certain insiders of the Company intend to participate in the private placement and their holdings of securities of the Company will increase as a result. Based on current commitments, Insiders are expected to subscribe to about 12.5% of the increased Offering. The Company will rely on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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Endurance Invited And Exhibiting at AME Roundup Core Shack Featuring High-Grade Drill Intersections From The Reliance Gold Project BC
Endurance Gold Corporation (TSXV: EDG) (the "Company") is pleased to announce that the Company will be exhibiting, in-person and by special invitation, at the 2022 AME Roundup Conference Core Shack located at the Vancouver Convention Centre West on Monday, January 31 and Tuesday, February 1.
Display Drill Core will include representative core from the four best holes drilled by the Company at the Reliance Gold Property (the "Property") in 2021 from drill holes spread along a 750 m trend which returned 15.7 gpt gold over 24.8 m including 26.96 gpt gold over 4.1 m, 8.47 gpt gold over 24.9 m including 16.27 gpt gold over 10.5 m, 8.62 gpt gold over 24.4 m including 17.02 gpt gold over 4.3 m, and the most recent drill announced last week of 1.70 gpt gold over 62.1 m.
The Property is located in southern British Columbia. The road accessible property is located 4 kilometres ("km") east of the village of Gold Bridge, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.
Following the Core Shack, on Wednesday February 2 and Thursday, February 3, the Company will then be exhibiting at the Project Generators' Hub and featuring the Company's 100% owned drill-stage Elephant Mountain Gold Project, Alaska and, 100% owned Bandito Rare- Earth Niobium Property, Yukon, as well as re-exhibiting some highlights from the Property.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.
Robert T. Boyd
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com
Please review prior press releases and presentations for sampling procedures and cautionary statements. The 2020 and 2021 work programs were supervised by Darren O'Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release. 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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111970
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Sarama Completes Second and Final Tranche of Placement
Funds raised will be used to sustain Sarama while it focuses on maximising value from its existing asset base in Burkina Faso, advancing potential opportunities outside Burkina Faso and to fund administration and general working capital costs
Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX-V:SWA) is pleased to report that on 17 April 2024, it completed the previously announced A$520,000 equity placement (the “Placement”) (refer to Sarama news releases dated 18 December 2023 and 22 December 2023).
The second and final Tranche of the Placement raised aggregate gross proceeds of A$50,000 with the Company issuing 2,500,000 Chess Depository Instruments (“CDIs”) at an issue price of A$0.02 per CDI to a director, Mr Andrew Dinning. The issuance of the CDIs to Mr Dinning was subject to shareholder approval, as required by the Australian Securities Exchange (“ASX”) Listing Rules, which was obtained at a special meeting held on 11 April 2024. Each new CDI issued under the Placement will rank equally with existing CDIs on issue and each CDI will represent a beneficial interest in 1 common share of the Company.
Tranche 1 of the Placement, completed on 22 December 2023, raised aggregate gross proceeds of A$470,000 with the Company issuing 6,000,000 common shares and 17,500,000 CDIs (the CDIs and together with the common shares, the "Securities") at an issue price of A$0.02 per Security.
Members of Sarama's Board and Management subscribed for an aggregate 6,250,000 CDls in the Placement.
Each of the directors and officers who participated in the Placement is a "related party" of the Company within the meaning of that term in Canadian Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101"). Participation by them in the Placement is therefore a "related party transaction" within the meaning of MI 61-101. Pursuant to Section 5.5(a) and 5.7(1)(a) of MI 61-101, the Company was exempt from obtaining a formal valuation and minority approval of the Company's shareholders in respect of the Placement due to the fair market value of their participation being below 25% of the Company's market capitalization for the purposes of MI 61-101. The Company filed material change reports in respect of the Placement which detail the participation by directors and officers of the Company. The material change reports were filed less than 21 days prior to the completion of each tranche of the Placement, which the Company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Placement in an expeditious manner. Each of the directors and officers who participated in the Placement are subject to an Exchange Hold period imposed by the TSX Venture Exchange on the CDIs issued to such persons. The Exchange Hold Period expires 4 months from the date of issue of the securities.
The common shares issued under the Placement are all subject to a four-month hold period from the date of issue in accordance with applicable securities laws.
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This article includes content from Sarama 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.
Completion of Rights Issue
$0.5 million partial underwrite of the Rights Issue from Breakaway Investment Group
Key Points:
- Breakaway Investment (controlled by director Dr Stephen Bartrop) has underwritten the Rights Issue to a minimum raise of $0.5 million
- $114,392 raised from eligible shareholders from their entitlements and the Top Up Facility combined
- An additional $385,608 due from the Underwriter by 26 April 2024 to bring the total raise to $500,000
- Further allocations of the shortfall from the Rights Issue possible following the close of the Rights Issue on 10 April 2024
Completion of Rights Issue
The Company will today issue 2,287,828 New Shares pursuant to the Rights Issue entitlements accepted and the Top Up Facility. Additionally, the Company will issue 1,143,916 Options to those participants. These acceptances comprise $95,712 raised from entitlements accepted and a further $18,679 raised from the Top Up Facility. At this stage, the Company does not have sufficient ‘spread’ required to apply for quotation of the Options on ASX as originally envisaged. The Company will review whether there is sufficient spread following the completion of the Shortfall Offer and the issue of Options attaching to the placement in November 2023 which continues to be subject to shareholder approval yet to be sought as at today.
As announced on 27 March 2024, Breakaway Investment Group Pty Ltd (Breakaway Investment), an entity controlled by R3D’s Managing Director, Dr Stephen Bartrop, has committed to underwrite the Rights Issue to a minimum raise of $500,000 (the Underwriting). The Company has provided a notice to Breakaway Investment to subscribe for $385,608 in New Shares by 26 April 2024 in order to achieve the total raise of $500,000. A further issue of securities will be conducted upon receipt of those funds from Breakaway Investment (and or its sub- underwriters).
Further issues of securities beyond the Underwriting may be made up to the $1,023,716 shortfall that will remain under the Rights Issue following the Underwriting. The Company will issue the relevant ASX Appendices 2A and 3G this morning.
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This article includes content from R3D Resources Limited, 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.
Aspacia Deposit Records Maiden Mineral Resource at the Menzies Gold Project
Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce a maiden Mineral Resource Estimate (MRE) at Aspacia, located approximately 1km west of Menzies town (MGP). This MRE was undertaken on over 110 RC and diamond holes including recent programs completed by Brightstar.
HIGHLIGHTS
- Maiden JORC2012 Mineral Resource Estimate (MRE) at Aspacia of 1.37Mt @ 1.6g/t Au for 70koz Au at a 0.5g/t Au cut-off grade
- Brightstar has increased the total Menzies MRE by ~20% since Brightstar ownership commenced in late May 2023
- Mineral Resource growth vindicates Brightstar’s strategy of identifying, drilling and delineating areas considered prospective to hold future potentially mineable ounces
- Within the Aspacia MRE, there is a high-grade subset of 290kt @ 3.72g/t Au for ~35koz using a 2.0g/t Au cut-off grade
- Mineralisation remains open at depth and along strike and will be tested further with upcoming drilling programs to grow and improve the confidence of the MRE
- Combined Brightstar MRE of 1.1Moz Au across the Menzies and Laverton Gold Projects, with an additional ~0.35Moz Au in resources to be added via a successful completion of the off-market takeover of Linden Gold Alliance1
- Pre-Feasibility Study work streams for the Menzies and Laverton Gold Projects are in progress, with significant drill programs commencing imminently across the Brightstar portfolio targeting resource confidence upgrades and material for testwork purposes.
Encouragingly, the Selkirk-First Hit-Lady Shenton trend seems to be distinct to that of the Aspacia deposit, which may lead to similar repetitions north and south of Aspacia and warrants further follow up exploration which we’ll target in our upcoming drilling programs set to re-commence this quarter.
The results from the previous drilling and the MRE output utilising a typical underground mining economic cut-off grade indicates to Brightstar that strong potential exists to assess a modest-scale underground operation at Aspacia given the grades and widths observed.
With the technical PFS work streams underway, RC and diamond drilling will shortly recommence at Brightstar’s projects and conduct large programs targeting conversion and upgrades to our current MREs proposed to be mined within our BTR 2023 Scoping Study, along with Linden Gold projects at Second Fortune and Jasper Hills”.
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This article includes content from Brightstar 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.
Further High-Grade Extensional Gold Intercepts Returned at Ricciardo
Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to advise of further assay results from drilling undertaken at the Ricciardo deposit (previously known as Silverstone) within its Golden Range Project, located in the Murchison region of Western Australia.
HIGHLIGHTS:
- Assay results received for an additional six (6) RC holes drilled at the Ricciardo deposit, with all holes intersecting significant gold intervals including:
- 8m @ 11.40 g/t Au from 166m, incl. 3m @ 22.38 g/t Au from 167m (RDRC041)
- 8m @ 2.63 g/t Au from 160m (RDRC034)
- Results further increase the known extent of the high-grade shoot beneath the historic Silverstone pit.
- Represents significant mineralisation intersected outside the current Mineral Resource model delivering immediate growth potential.
- Assays from a residual three (3) RC holes beneath the Ardmore pit (at Ricciardo) are pending, with results anticipated within the next two weeks.
- The Ricciardo deposit remains open along strike and at depth, with further growth- focussed drilling set to commence this quarter.
- Ricciardo sits in the middle of the 25km-long ‘Golden Corridor’ at Golden Range, which hosts six discrete deposits (18 historic pits) that are all open at depth and possess immediate growth potential.
- Ricciardo and the ‘Golden Corridor’ are Warriedar’s key exploration focus in 2024.
Warriedar Managing Director and CEO, Amanda Buckingham, said:
“This is another very pleasing set of results from our recent drilling at Ricciardo. Combined with the initial results released in March, they readily demonstrate why we have made the Golden Corridor the primary focus of our 2024 exploration activities. At Golden Range we have scale, plus grade, and immediate and substantial resource growth potential. We look forward to receiving the remaining assays, as well as recommencing drilling this quarter.”
Click here for the full ASX Release
This article includes content from Warriedar Resources Limited, 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.
Multiple New Gold Target Areas Identified at Golden Ridge
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide an update on exploration activities at the Company’s 100% owned Golden Ridge Project located in Northeast Tasmania (Figure 1).
Highlights
- Assay results from UltraFine+ soil sampling define anomalous gold in soils over a combined strike length of at least 9km along the granodiorite-metasediment contact zone at Golden Ridge
- The granodiorite-metasediment contact soil anomaly remains open along trend in both directions significantly extending FG1’s target
- New target areas have been identified within the granodiorite and metasediments, further enhancing the potential large scale of the overall Golden Ridge target deposit
- Results confirm the potential of the Ultrafine+ technique as an effective exploration tool at the project
- Infill and extension soil sampling is ongoing over the wider Golden Ridge project area
- Recommencement of drilling at Trafalgar prospect imminent
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/GyVBay
Managing Director and CEO, Neil Marston commented,
“Our flagship Golden Ridge Project in northeast Tasmania keeps delivering exciting results. Last year was significant for Flynn Gold with drilling at Golden Ridge intersecting high-grade gold in multiple vein sets at the Trafalgar prospect.
“The results of our soil sampling program are also very pleasing with significant gold anomalies coinciding with known old workings as well as gold anomalies being identified in several new target areas along the prospect contact zone.
“Follow-up soil sampling will continue over the coming months as this is proving to be a very effective exploration tool, generating new gold targets to evaluate.
“With a rig remobilised back to Golden Ridge this week, we are looking forward to the next phase of drilling, starting at the Trafalgar prospect.”
Click here for the full ASX Release
This article includes content from Flynn Gold, 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.
Awalé Resources CEO Touts Odienné Project’s Potential for "Big Gold-Copper System"
Drilling at Awalé Resources’ (TSX:ARIC) Charger target within the Odienné project in Côte d’Ivoire has hit “one of the highest-grade gold intersections," according to the company’s CEO, Andrew Chubb.
“It's a (really) significant drill hole. We were testing a new sort of 3D framework at that target. We drilled holes there and got 50 to 100 meter intercepts … We adjusted our interpretation and went in to test that, and found that it's a breccia system. We found a new breccia pipe and got the broadest intercept of the actual geology,” he said.
“The biggest thing for us is that we believe we are sitting on a big gold-copper system. And there are other discoveries that we've had within that system as well, there are two other discoveries, and it's really evolving into what looks like a big mining camp.”
A 3,000 meter diamond drilling program at the Charger prospect has commenced following the announcement of outstanding assay results of 26 grams per metric ton (g/t) gold over 57 meters, including 45.7 g/t gold over 32 meters from 165 meters downhole of a new breccia pipe.
Watch the full interview with Awalé Resources CEO Andrew Chubb above.
Disclaimer: This interview is sponsored by Awalé Resources’ (TSX:ARIC). This interview provides information which was sourced by the Investing News Network (INN) and approved by Awalé Resources in order to help investors learn more about the company. Awalé Resources is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Awalé Resources and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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