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 Non-Brokered Private Placement
Endurance Gold Corporation (TSXV: EDG) ("Endurance or the "Company") is pleased to announce that it intends to complete a non-brokered private placement to raise gross proceeds of up to $2,500,000 (the "Offering") through the sale of up to 6.25 million units (each, a "Unit") at $0.40 per Unit. The Offering is not subject to any minimum aggregate subscription.
Each Unit will consist of one common share (each, a "Share") and one-half non-transferable common share purchase warrant (each, 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.
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. 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.
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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Advancing Multiple Gold Discoveries in Proven Jurisdictions
Focused on adding value through cost effective minerals exploration and discovery
The information contained in this Presentation or subsequently provided to the Recipient of this Presentation whether orally or in writing by or on behalf of the Company or its employees, agents or consultants ("Information") is provided to the Recipients on the terms and conditions set out in this notice. The purpose of this Presentation is to provide Recipients with Information relating to the Company. The Presentation has been prepared by the Company and each Recipient must make his/her own independent assessment and investigation of the Company and its business and assets and should not rely on any statement or the adequacy and accuracy of any Information contained in this Presentation.
The Company makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of the Information. The Company and its directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the Presentation, except liability under statue that cannot be excluded.
The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. This Presentation does not constitute in any way an offer or invitation to subscribe for securities in the Company pursuant to the Corporations Act.
Statements regarding the Company’s plans with respect to its mineral properties are forward-looking statements. There can be no assurance that the Company’s plans for development or proposed exploration activity will proceed as currently expected. There can also be no assurance that the Company will be able to confirm the presence of mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties.
The information in this report that relates to Exploration Results is based on, and fairly represents, information compiled by Mr Travis Schwertfeger, who is a Member of the Australasian Institute of Geoscientists. Mr Schwertfeger is the Executive Chairman of the Company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a competent person as defined in the 2012 Edition of the “Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves” (JORC Code). Mr Schwertfeger consents to the inclusion in this report of the matters based upon his information in the form and context in which it appears.
References may have been made in this announcement to certain past ASX announcements, including references regarding exploration results. For full details, refer to the referenced ASX announcement on the said date. The Company confirms that it is not aware of any new information or data that materially affects the information included in these earlier market announcements.
Released with the authority of the board of Many Peaks Minerals Limited.
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This article includes content from Many Peaks Minerals, 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.
Significant Mineralisation Intersected at Auld Creek
Highlights
Diamond drillhole ACDDH015 has been completed, intersecting both the Bonanza East and Fraternal Shoots.
- ACDDH015 follows up from encouraging results from the 2023 Bonanza East drilling campaign, ie. 5m @ 4.1g/t Au, 7.0% Sb for 20.6g/t AuEq from 78.3m.
- ACDDH015 intersected the Bonanza East Shoot between 69.6m and 80.8m for a total downhole length of 11.2m.
- The intersection contains significant visible stibnite mineralisation, including a very rich 5m section containing between 15-35% stibnite based on a combination of visual estimates and pXRF analysis. Assay results are awaited.
- The Fraternal Shoot was intersected between 105m and 126m for a total downhole length of approximately 21m. The hole intersected moderate to strong acicular arsenopyrite throughout the hole, with moderate stibnite and quartz veining between 105m and 109m.
“It is pleasing to see the first drillhole of 2024 deliver some outstanding visual results and we look forward to the laboratory assays confirming our initial analysis in the coming weeks. The ongoing drilling at Auld creek is expected to add significantly to our understanding of the Antimony and Gold distribution within the mineralisation and will be used to update the Auld Creek Inferred MRE.
“Planning is well advanced to recommence drilling at Sams Creek next month to test the Anvil Zone where Siren recently identified a significant new drill target. The Sams Creek porphyry dyke extends over 7kms long, is up to 60m thick, and extends down dip for at least 1km and includes the Company’s Main Zone MRE of 824,000 oz @ 2.8g/t Au1.
“Additionally, it is fantastic to see the support of the New Zealand Government in introducing the Fast Track Approvals Bill for accelerated development of major projects. This is a very positive step for mining projects in New Zealand and we look forward to working with the Government and key stakeholders to progress our exploration programs at Reefton and Sams Creek to mining permit status“.
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This article includes content from Siren 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.
Polymetallic Strike and Depth Potential Identified at Firetower Project
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide an update on its exploration activities at its 100%-owned Firetower Project located in northwest Tasmania.
Highlights
- Final assay results from recent 4-hole diamond drilling program at the Firetower polymetallic (Au-Co-W-Cu) prospect have been received and reviewed
- All holes intercepted significant mineralised intervals, with a best result (previously reported) of:
- 2019FTD007E:
- 17.0m @ 2.31g/t Au, 0.16% Co, 0.38% WO3, 0.16% Cu from 121.0, including:
- 1.7m @ 6.64g/t Au, 0.12% Co, 0.87% WO3 and 0.14% Cu from 121m and
- 5.5m @ 3.27g/t Au, 0.24% Co, 0.53% WO3, 0.33% Cu from 132.5m
- 17.0m @ 2.31g/t Au, 0.16% Co, 0.38% WO3, 0.16% Cu from 121.0, including:
- 2019FTD007E:
- Modelling of updated drilling data indicated key structural controls to polymetallic mineralisation zones at Firetower
- Depth and strike extension target zones recognised
- Detailed surface mapping and sampling program has commenced over priority target areas
“The drilling program was successful in testing for depth extensions of the main mineralised zone and providing key geological and structural information which greatly improves our understanding of the controls to high-grade mineralisation at the Firetower project.
“Our initial review of the project generated depth extension targets that we started testing with an initial 4-hole drill program in November 2023.
“Previous drilling at Firetower has been generally shallow across a limited strike length, with very few holes extending beyond 100m from the surface. Several historic drill holes reportedly ended in mineralisation.
“These early results demonstrate the continuity of polymetallic mineralisation and highlight the significant potential for high-grade mineralisation to continue at depth and along strike.”
Firetower Drilling
The Company completed 496m of diamond drilling at the Firetower prospect in December 2023 with extension tails to three historical diamond holes and one new hole drilled. The drilling followed a due diligence period of historical data validation and review, drill core resampling, drill program planning, environmental surveys, community and stakeholder liaison, access clearance and statutory work program permitting carried out by the Company.
The short drill program was designed to test for depth/strike extensions to historically drilled polymetallic (Au-Co-W-Cu) mineralisation, and to provide stratigraphic and structural information to assist geological evaluation of controls to high-grade mineralisation. All assay results have now been received from the drilling. See Figures 1 & 2 and Appendix 1 for details of the latest drilling.
As previously reported1, extension drill hole 2019FTD007E was drilled for 83.2m from 98.7m – 181.9m to test for the continuation of gold-cobalt-tungsten-copper mineralisation at depth and along strike from hole 2019FTD006 (9.0m @ 2.56g/t Au, 0.25% Co, 0.32% WO3, 0.1% Cu from 99.0m, including 3.0m @ 8.59g/t Au, 0.29% Co, 0.83% WO3, 0.21% Cu from 105m).
Hole 2019FTD007E intersected the thickest down-hole zone of polymetallic mineralisation ever drilled at Firetower, with:
- 17m @ 2.31g/t Au, 0.16% Co, 0.38% WO3 and 0.16% Cu from 121m; including:
- 1.7m @ 6.64g/t Au, 0.12% Co, 0.87% WO3 and 0.14% Cu from 121m and
- 5.5m @ 3.27g/t Au, 0.24% Co, 0.53% WO3 and 0.33% Cu from 132.5m.
Extension drill hole 2019FTD004E was drilled for 121.1m from 106m – 227.1m. Highlights from this extended hole include (as previously reported):
- 9.1m @ 0.85g/t Au, 0.1% Co, 0.09% WO3 and 0.15% Cu, from 111.9m, including
- 2.4m @ 1.7g/t Au, 0.15% Co, 0.26% WO3 and 0.19% Cu from 118.6m.
Extension drill hole 2019FTD005E was drilled for 76.9m from 120.5m – 197.4m. Best intercept in the hole was:
- 2.4m @ 1.37g/t Au, 0.15% Co, 0.35% WO3, 0.04% Cu from 141.0m.
Hole FT-2023-001, drilled from surface to a down-hole depth of 214.8m, intercepted a best polymetallic intercept associated with a discrete zone of chalcopyrite-rich sulphide breccia veining of:
- 0.75m @ 5.33g/t Au, 2.65% Cu, 0.005% Co, 0.05% WO3 from 159.75m.
Firetower Geological Modelling
The results of Flynn’s drilling are highly encouraging and confirm that follow-up exploration is warranted at Firetower. Modelling of updated drill hole structural and stratigraphic data (including 3D modelling) is in progress to evaluate controls to the high-grade polymetallic Au-Co-W-Cu mineralisation at Firetower and optimise targets for potential follow-up drilling.
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.
Acquisition of Advanced Gold Projects in Cote D’Ivoire
Many Peaks Minerals Limited (ASX:MPK) (Many Peaks or the Company) is pleased to announce entering a binding Share Sale Agreement (Agreement) with Turaco Gold Limited (Turaco) to acquire its 89% interest in CDI Holdings (Guernsey) Ltd (CDI Holdings). CDI Holdings is an 89% subsidiary of Turaco, held with Predictive Discovery Limited (Predictive), holding an 11% free carry ownership in a joint venture with Turaco. The Agreement will trigger Turaco’s drag-along right in its joint venture with Predictive, whereby Many Peaks will also acquire Predictive’s remaining 11% interest and consolidate 100% ownership of the joint venture entity CDI Holdings.
HIGHLIGHTS
- Agreement to acquire 100% interest in Turaco Gold Ltd and Predictive Discovery Ltd joint venture holding the right to acquire an 85% interest in four mineral permits in Cote d’Ivoire
- Permits cover expansive 1,275km2 land package including recent gold discoveries with over US$4m previous exploration expenditure
- Acquisition includes the Ferke Gold Project, hosting the recent Ouarigue South discovery with open mineralisation ready for follow-up, and the Odienne Project immediately along strike from new gold discoveries
- Drilling to commence as soon as practicable in the coming quarter
Ferke Gold Project, 300km2
- 16km mineralised trend in soils with limited exploration follow-up.
- Previous diamond drilling confirms new discovery at the Ouarigue South prospect; results include:
- 35.95m @ 3.88 g/t gold within 77.6m @ 2.33 g/t gold from 45.9m and; 4.7m @ 6.14 g/t gold from 134m – FNDC001
- 91.1m @ 2.02 g/t gold from surface – FNDC008
- 47m @ 3.72 g/t gold from surface – FNDC012
- 15m @ 2.06 g/t gold from surface and 116.5m @ 0.98 g/t gold from 34.5m, including 30.09m @ 1.86 g/t gold – FNDC005
- 18m @ 3.38 g/t gold from 107m and; 13.65m @ 2.13 g/t gold from 194m – FNDC018
- 9.75m @ 7.46 g/t gold within 54.17m @ 1.88 g/t gold from 59.58m – FNDC019
Odienne Project, 758km2
- Project covers significant extent of high-strain corridor associated with the Archean domain
- margin and is comparable in stratigraphy to Guinea’s Siguiri basin
- On trend with Predictive’s 5.4Moz Au Bankan Project and Centamin’s 2.16Moz ABC project and contiguous to a new discovery by Awalé Resources/Newmont joint venture
- Recent first pass, wide-spaced air core drilling highlights a continuous zone of mineralisation returning >1g/t gold over 1,200m strike extent, with results including:
- 12m @ 1.18g/t gold from 4m
- 12m @ 1.06g/t gold from 16m
- 8m @ 1.30g/t gold from 28m
The consideration for the purchase of 100% of CDI Holdings will be an aggregate 5,617,978 fully paid ordinary shares in Many Peaks subject to a 12 month escrow, to be issued under the Company’s capacity under ASX listing rule 7.1. Upon completion, Many Peaks will also assume a royalty deed for a 1% net smelter return royalty payable to Resolute (Treasury) Pty Ltd (Resolute)—further information on terms and conditions precedent outlined below.
Many Peaks’ Executive Chairman, Travis Schwertfeger, commented: “The Ferke and Odienne Projects in Cote d’Ivoire deliver Many Peaks a strong foundation of exploration success in Cote d’Ivoire with the potential to build significant high- grade ounces in the near term. Both projects are already covered with systematic geochemical coverage and high-resolution geophysics, which have led to demonstrated gold mineralisation confirmed in drilling. Leveraging over US$4m of previous expenditure in recent years has generated multiple targets ready for follow-up, including extension targets, providing Many Peaks with a transformational acquisition with near-term resource potential viable.
Our team has a depth of West African operating experience tied to multiple discovery and development projects over the past 15 years, and our technical team looks forward to operating in Cote d'Ivoire again. Over recent years, it has emerged as a premier jurisdiction within West Africa to operate in, with several recent exploration and development successes.
Figure 1: Project Locations
Ferke Gold Project
The Ferké Gold Project (Ferke) is located in northern Cote d’Ivoire, covering 300km2 in a granted exploration permit licence. Ferke is situated on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones (refer to Figure 1). Initial exploration undertaken at the Ferke Gold Project by Predictive Discovery Ltd in 2016 and 2017 (previously referred to as Ferkessedougou North) comprised several phases of geochemical stream and soil sampling across the permit area, which has defined a more than 16km long gold-in-soils anomaly on the ‘Leraba Gold Trend’ (refer to Figure 2 and Predictive’s ASX announcement dated 2 February 2017).
Click here for the full ASX Release
This article includes content from Many Peaks Minerals, 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.
Barrick to Look for More Gold and Copper Through DRC Partnership
Barrick Gold (TSX:ABX,NYSE:GOLD) is setting its sights on expanding its operations through a partnership with the Democratic Republic of Congo (DRC) that would open up new gold and copper opportunities for the company.
Kibali — the company’s joint venture with AngloGold Ashanti (NYSE:AU,JSE:ANG) — continues to set production records after another successful year, punctuated by the 343,000 ounces of gold it produced in 2023.
Barrick is forecasting higher attributable production from Kibali in 2024, setting a goal of 320,000 to 360,000 ounces.
The company also believes the DRC-based gold mine is set to replace the ounces it depletes through mining.
Barrick President and Chief Executive Mark Bristow, through a March 20 press release, commented on the strong returns yielded by the company’s Congolese investment, which has become Africa's largest gold mine.
“Kibali has transformed what was previously the disadvantaged north-east region of the country into a new economic frontier and a flourishing commercial hub,” he said. “Of our US$5 billion investment in the DRC, more than half has been spent with local contractors and suppliers, many of whose growth into substantial businesses we have promoted by enhancing their commercial and technical skills and providing them with the opportunities to exercise these."
Kibali is also in the process of transitioning to renewable energy. Barrick said it plans to commission a 16 megawatt solar plant and associated batteries next year, increasing renewable energy use from 81 to 85 percent.
The mine will run only on renewable power through the DRC's six month rainy season.
While Kibali is a gold-focused operation, the DRC is not a top 10 producer of the yellow metal. However, copper production in the country has been rising in recent years, and the DRC took the third top spot in 2023.
The DRC is also one of the world’s leading producers of the critical minerals cobalt and tantalum.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
AGNICO EAGLE PROVIDES NOTICE OF RELEASE OF FIRST QUARTER 2024 RESULTS, CONFERENCE CALL AND ANNUAL MEETING
Stock Symbol: AEM (NYSE and TSX)
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today announced that it will release its first quarter 2024 results on Thursday, April 25, 2024 after normal trading hours. Additionally, the Company will host its Annual and Special Meeting of Shareholders (the "AGM") the following day, Friday, April 26, 2024 in a hybrid format (in Toronto and virtually).
Agnico Eagle's senior management will host a conference call on Friday, April 26, 2024 at 8:30 AM (E.D.T.) to discuss the Company's financial and operating results.
Via Webcast :
A live audio webcast of the conference call will be available on the Company's website at www.agnicoeagle.com .
Via URL Entry :
To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3Rvps04 to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator (see "Via Telephone" details below).
Via Phone :
For those preferring to listen by phone, please dial 416.764.8659 or toll-free 1.888.664.6392. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.
Replay Archive :
Please dial 416.764.8677 or toll-free 1.888.390.0541, access code 505445#. The conference call replay will expire on May 26, 2024 .
The webcast, along with presentation slides, will be archived for 180 days on the Company's website.
The AGM will begin on Friday, April 26, 2024 at 11:00 AM (E.D.T). During the AGM, management will provide an overview of the Company's activities.
Hybrid Format
The AGM will be held in person at the Arcadian Court, 401 Bay Street, Simpson Tower, 8 th Floor, Toronto, Ontario , M5H 2Y4 and online at: https://meetnow.global/MFJPVMP .
The Company is conducting a hybrid meeting that will allow registered shareholders and duly appointed proxyholders to participate both online and in person. The Company is providing the virtual format in order to provide shareholders with an equal opportunity to attend and participate at the AGM.
For details explaining how to attend, communicate and vote virtually at the AGM please see the Company's Management Information Circular dated March 22, 2024 , filed under the Company's profile on SEDAR at www.sedarplus.ca and on EDGAR at www.sec.gov . Shareholders who have questions about voting their shares or attending the AGM may contact Investor Relations by phone at 416.947.1212, by toll-free phone at 1.888.822.6714 or by email at investor.relations@agnicoeagle.com or may contact the Company's strategic shareholder advisor and proxy solicitation agent, Laurel Hill Advisory Group, by phone at 1.877.452.7184 (toll free in North America ), at 1.416.304.0211 (for collect calls outside of North America ) or by e-mail at assistance@laurelhill.com .
Agnico Eagle Mines Limited
145 King Street East , Suite 400
Toronto, Ontario , M5C 2Y7
investor.relations@agnicoeagle.com
Phone: 416.947.1212
Fax: 416.367.4681
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada , Australia , Finland and Mexico . It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States . Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
View original content: https://www.prnewswire.com/news-releases/agnico-eagle-provides-notice-of-release-of-first-quarter-2024-results-conference-call-and-annual-meeting-302097594.html
SOURCE Agnico Eagle Mines Limited
View original content: http://www.newswire.ca/en/releases/archive/March2024/25/c8804.html
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