Blackstone Minerals is well-positioned to leverage a projected nickel supply deficit as it strives to become a vertically integrated producer of low-cost, low-carbon, battery-grade nickel. Key to this is Blackstone’s Ta Khoa project in Vietnam, an emerging hub for the electric vehicle market.
As the world moves closer to a sustainable net-zero future, the need for battery metals continues to mount and nickel may soon be among the metals to see a supply crunch. Though its roots are in the stainless steel sector, it's also a critical component of lithium-ion batteries.
Given that many nations are aiming to replace combustion vehicles with electric cars by 2030, the metal is already experiencing a massive spike in demand. Benchmark Minerals expects the need for battery-grade nickel will increase about 950 percent by 2040.
It's imperative to ramp up global nickel production but the resource sector, for its part, must do so with a much-reduced carbon footprint to influence the sustainability of the entire value chain. Blackstone Minerals (ASX:BSX,OTC:BLSTF,FRA:B9S) recognizes this. As a vertically integrated producer of low-cost, low-carbon nickel, the company aims to become a leading source of low CO2 emission nickel sulphide. Its flagship Ta Khoa project in Vietnam is representative of that goal.
Blackstone Minerals business structure schematic
With over 20 active mines and a burgeoning technology sector, Vietnam is on the road to becoming a hub of electric vehicle production and innovation, with low labor costs and regulated electricity pricing further driving its growth. Steadily increasing foreign direct investment in the region is indicative of this as the country seeks to attract $50 billion in new foreign investment by 2030.
Blackstone is uniquely positioned to take advantage of this, thanks to two factors. US President Joe Biden's Inflation Reduction Act, which came into force in August 2022, represents the largest investment into climate action in United States history. A similar initiative is rolling out in the European Union (EU), which maintains a Free Trade Agreement with Vietnam — something multiple partners of the company have expressed interest in.
Blackstone's Ta Khoa Project consists of two streams, the Ta Khoa Nickel Mine and the Ta Khoa Refinery. Recent milestones point to Blackstone’s commitment to advancing this game-changing project.
These milestones include a memorandum of understanding with Cavico Laos Mining to collaborate in a number of areas associated with CLM’s nickel mine in Lao People's Democratic Republic and supply of nickel products for Blackstone’s Ta Khoa Refinery in Vietnam.
Blackstone also partnered with Arca Climate Technologies to further investigate the carbon capture potential at the Ta Khoa Project through carbon mineralisation, and explore opportunities to utilise Arca’s carbon capture technologies within the project.
In a bid to collaborate on the supply of renewable wind energy to the Ta Khoa Project, Blackstone signed a direct power purchase agreement with Limes Renewables Energy.
Blackstone received AU$2.8 million as an advance from a research & development (R&D) lending fund backed by Asymmetric Innovation Finance and Fiftyone Capital. The advanced payment reflects the significant investment by Blackstone to develop the Ta Khoa Refinery process and Blackstone’s unique strategy to convert nickel concentrate blends into battery products in the form of precursor cathode active material (pCAM).
In December 2023, Blackstone entered into an option agreement with CaNickel Mining to acquire the Wabowden nickel projectlocated in the world-class Thompson Nickel Belt in Manitoba, Canada.
The Wabowden project will have the potential to fill the Ta Khoa Refinery, removing dependence on third party feed sources.
The company has signed a non-binding MOU with the Development for Resources Environmental Technology joint stock company (DRET) to investigate opportunities to repurpose and trade waste material (or residue) from the Ta Khoa Refinery into construction material products. Moreover, it has also progressed the Ta Khoa Refinery byproduct offtake strategy with Vietnam Chemical Group (VinaChem), PV Chemical and Equipment Corporation (PVChem) and Nam Phong Green Joint Stock Company (Nam Phong) to sell Ta Khoa Refinery byproducts, being manganese sulphate (or epsomite) and sodium sulphate.
As the company plans to build a global nickel business, Blackstone signed a non-binding memorandum of understanding with Yulho Co. Ltd (Yulho) and EN Plus Co. Ltd (EN Plus) to establish a collaboration across the businesses including EN Plus and Yulho who are in joint venture on the Ntaka Hill nickel sulphide project in Tanzania, and the Dinagat Island nickel laterite project in the Philippines.
Blackstone holds a 90 percent interest in the Ta Khoa Nickel-Copper-PGE Project, located 160 kilometers west of Hanoi in the Son La Province of Vietnam. It includes an existing modern nickel mine built to Australian Standards, which is currently under care and maintenance. The Ban Phuc nickel mine successfully operated as a mechanized underground nickel mine from 2013 to 2016.
Blackstone intends to complement the existing mine through the installation of a large concentrator, refinery and precursor facility, supporting integrated on-site production of nickel, cobalt and manganese precursor products for the Asia-Pacific market. One of Blackstone's key Research and Development objectives with Ta Khoa is to develop a flowsheet that will support this production.
To fulfill this goal, Blackstone is focusing on a partnership model, collaborating with groups committed to sustainable mining. It is also working to minimize its carbon footprint and implement a vertically integrated supply chain.
Hamish Halliday is a geologist with over 20 years of corporate and technical experience. He is also the founder of Adamus Resources Limited, an AU$3 million float that became a multimillion-ounce emerging gold producer.
Scott Williamson is a mining engineer with a commerce degree from the West Australian School of Mines and Curtin University. He has over 10 years of experience in technical and corporate roles in the mining and finance sectors.
Dr. Frank Bierlein is a geologist with 30 years of technical and corporate experience, focusing on grassroots to mine-stage mineral exploration, target generation, project management and oversight, due diligence studies, mineral prospectivity analysis, metallogenic framework studies and mineral resources market and investment analysis.
Alison Gaines has over 20 years of experience as a director in Australia and internationally. She has experience in the roles of board chair and board committee chair, particularly remuneration and nomination and governance committees. She is also the managing director of Gaines Advisory P/L and was recently global CEO of international search and board consulting firm Gerard Daniels, with a significant mining and energy practice.
Gaines has a Bachelor of Laws and a Bachelor of Arts (hons) from the University of Western Australia, a Graduate Diploma in Legal Practice from Australian National University and an honorary doctorate of the University and Master of Arts (Public Policy) from Murdoch University. She is a fellow of the Australian Institute of Company Directors and holds the INSEAD certificate in corporate governance. She is currently the governor of the College of Law Ltd, and non-executive director of Tura New Music.
Daniel Lougher’s career spans more than 40 years involving a range of exploration, feasibility, development, operations and corporate roles with Australian and international mining companies including a period of eighteen years spent in Africa with BHP Billiton, Impala Plats, Anglo American and Genmin. He was the managing director and chief executive officer of the successful Australian nickel miner Western Areas Ltd until its takeover by Independence Group.
Lougher also holds a first class mine manager’s certificate of competency (WA) and is a fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). Lougher is the chair of the company’s technical committee and nomination committee.
Jamie Byrde has over 16 year's experience in corporate advisory, public and private company management since commencing his career with big four and mid-tier chartered accounting firms positions. Byrde specializes in financial management, ASX and ASIC compliance and corporate governance of mineral and resource focused public companies. He is also currently company secretary for Venture Minerals Limited.
Tessa Kutscher is an executive with more than 20 years of experience in working with C-Level executive teams in the fields of business strategy, business planning/optimisation and change management. After starting her career in Germany, she has worked internationally across different industries, such as mining, finance, tourism and tertiary education.
Kutscher holds a master’s degree in literature, linguistics and political science from the University of Bonn, Germany and a master’s degree in teaching from Ludwig Maximilian University of Munich.
Andrew Strickland is an experienced study and project manager, a fellow of the Australian Institute of Mining and Metallurgy, University of WA MBA graduate, with undergraduate degrees in chemical engineering and extractive metallurgy from Curtin and WASM.
Before joining Blackstone, Strickland was a senior study manager for GR Engineering Services where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects. Over his career, he has held a variety of project development roles across both junior to mid-tier developers (including Straits Resources, Perseus Mining and Tiger Resources) and major multi-operation producers (South32).
Graham Rigo is an experienced study manager with over a decade of on-site production experience, holding undergraduate degrees in chemical engineering and finance from Curtin University, WA.
Before joining Blackstone, Rigo was a study manager for Ausenco where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects over a range of different commodities.
Rigo has over 11 years of site experience in nickel and cobalt hydromet production experience, in supervisory/superintendent level roles as well as process engineer experience.
Lon Taranaki is an international mining professional with over 25 years of extensive experience in all aspects of resources and mining, feasibility, development and operations. Taranaki is a qualified process engineer from the University of Queensland Australia. He holds a Master of Business Administration, and is a fellow of the Australian Institute of Company Directors. Taranaki has established his career in Asia where he has successfully worked (and lived) across multiple jurisdictions and commodities ranging from technical, mine management and executive management roles.
Prior to joining Blackstone in February 2022, Taranaki was the chief executive officer of Minegenco, a renewable-energy-focused independent power producer. Preceding this, he was managing director of his private consultancy, AMG Mining Global, where he was providing services to the mining industry in Singapore, Guyana, Indonesia and Cambodia. Additionally, Taranaki has held various senior positions with Sakari Resources, PTT Asia Pacific Mining, Straits Resources, Sedgmans and BHP Coal.
Blackstone Minerals (ASX: BSX) is pleased to announce that the Company will be presenting at Red Cloud's Pre-PDAC 2023 Mining Showcase. We invite our shareholders and all interested parties to join us.
The annual conference will take place in-person at the Sheraton Centre Toronto Hotel from March 2-3, 2023.
Andrew Strickland, Executive, BD will be presenting on March 2nd at 3:30PM Eastern Standard time.
For more information and/or to register for the conference please visit: https://redcloudfs.com/prepdac2023/.
We look forward to seeing you there.
About Blackstone Minerals
Blackstone Minerals Limited is an Australian based battery materials developer. The Company is focused on building an integrated upstream and downstream battery metals processing business in Vietnam that produces Nickel-Cobalt-Manganese (NCM) Precursor products for Asia's growing Lithium-ion battery industry. The Company's projects include Ta Khoa Nickel Project, Ta Khoa Refinery and Gold Bridge Project. It owns a 90% interest in Ta Khoa, which is located approximately 160 kilometers west of Hanoi in the Son La Province of Vietnam. The Ta Khoa Refinery is designed to have a refining capacity of 400 kilotons-per-annum (ktpa), with feedstock provided from a combination of concentrate from the Ta Khoa Nickel Project and third-party feed sources. The Gold Bridge Project covers approximately 367 square kilometers of tenure and is located 180 kilometers north of Vancouver in British Columbia, Canada.
For further information:
Blackstone Minerals
Ashleigh Fox
Executive Assistant
+61407 320 079
ashleigh@blackstoneminerals.com.au
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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce that it has received approval from the TSX Venture Exchange (the " Exchange ") to proceed with its Normal Course Issuer Bid (the " NCIB ") previously announced on December 2, 2024 .
Under the NCIB, the Company may acquire up to 5,000,000 common shares (" Common Shares "), representing approximately 2% of the current public float of the Common Shares, over the 12-month period commencing December 5, 2024 , and ending on December 5, 2025 .
Purchases of Common Shares will be carried out in the open market through the facilities of the Exchange, in compliance with regulatory requirements at the prevailing market price of the Common Shares at the time of acquisition. The actual number of Common Shares that may be purchased for cancellation and the timing of any such purchases will be determined by the Company and dependent on market conditions. The NCIB will be conducted through Cormark Securities Inc. and made in accordance with the policies of the Exchange.
The funding for any purchases pursuant to the NCIB will be from the available funds of the Company. To the Company's knowledge, none of the directors, senior officers, or other insiders of the Company, has any present intention to sell any Common Shares during the course of the NCIB. During the past 12 months, no Common Shares were purchased by the Company.
The Company is commencing the NCIB because it believes that the market price of its Common Shares is undervalued and does not reflect the value of the Company's assets and future prospects and that the purchase of Common Shares under the NCIB is in the best interest of the Company, a desirable use of its available cash, and will enhance shareholder value in general.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne , President, CEO and Director
Email: ceo@fpxnickel.com
Phone: 604-681-8600
Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to the Company's NCIB, including the dates and duration of the NCIB and the purchases of Common Shares made thereunder, the continued advancement of Baptiste, and driving additional value to shareholders, advancing global exploration joint venture and other statements that are not historical facts. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release.
Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's annual information form dated April 26, 2024 for the year ended December 31, 2023 (the "AIF"). A copy of the AIF and the Company's other publicly filed documents which can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca . In addition, there can be no assurance that the Company will repurchase all or any of the Common Shares referred to in this press release under the NCIB. In particular, the purchase by the Company of Common Shares pursuant to the NCIB will depend, among others, on the prevailing market price from time to time of the Common Shares. There can also be no certainty that purchases of Common shares under the NCIB will achieve the desired objectives. In addition, the Company's expectations with respect to Baptiste may be different than anticipated.
The Company cautions that the list of risk factors and uncertainties described in the AIF and the Company's other publicly filed documents is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. The forward-looking information contained in this press release represents our expectations as of the date of this press release (or as the date they are otherwise stated to be made), and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE FPX Nickel Corp.
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Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) is pleased to announce that it has executed a Definitive Agreement (the "Agreement") with an arm's length vendor to acquire a 100% interest in three separate mineral claims packages, highly prospective for Hydrogen located in the Larder Lake Mining District of Ontario, along the Quebec border near the town of Ville-Marie, QC.
These claim blocks consist of three separate packages, covering 149 mineral claims and totaling approximately 3,246 hectares and were acquired due to their proximity and similar geological setting to that of Quebec Innovative Materials Corp.'s ("QIMC") recent hydrogen-in-soil discovery in the Saint-Bruno-de-Guigues area, of over 1,000 ppm, announced on September 4th 2024.
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
Figure 1. RMES 7 Mineral Claim blocks in Ontario and Quebec in proximity to recent Hydrogen discovery
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Red Metal's total portfolio of claim blocks in this highly prospective discovery area, now consist of seven separate packages, covering 172 mineral claims and totaling over 4,546 hectares to the North, Northeast and the Southwest of QIMC's Hydrogen-in-soil sample discovery as well as covering similar geology to the west into Ontario. These claim blocks are contiguous on three sides to Quebec Innovative Materials Corp. and cover possible extensions in multiple directions. To date, 164 of the 172 claims have been approved by the Quebec Ministry of Natural Resources and Forests and the Ontario ministry of mines.
Ontario's Firstbrook Township hosts documented occurrences of copper, lead, cobalt, silver and kimberlite. The area boasts excellent infrastructure, including power and easy road access.
Geologic or white hydrogen offers a clean, renewable and potentially abundant source of energy with a range of environmental and economic benefits. Its carbon-free nature, high energy density and compatibility with existing infrastructure make it a promising solution for meeting future energy needs and achieving global climate goals.
Red Metal Resources President and CEO, Caitlin Jeffs stated,"We have added a significant and highly prospective package of three additional claim blocks in Ontario to our existing mineral claims portfolio next to QIMC in Quebec. Red Metal is actively planning an extensive exploration program to encompass its Quebec and Ontario claims including directly next to QIMC's recent hydrogen discovery. These new Ontario claims increase our exposure to this exciting discovery area and highlight the potential for new discoveries of hydrogen as well as base and previous metals as we continue to advance our Carrizal Copper/Gold property in Cordillera, Chile."
Red Metal Resources is planning an initial exploration program that could include but not limited to:
Gas sampling from the soil and underwater surveys in Timiskaming Lake. These surveys can be used to locate degassing zones associated with faults in the Timiskaming rift.
Gravimetry and audiomagnetotellurism (AMT) geophysics to assess variations in the thickness of local sedimentary rock deposits (gravity troughs) over the Archean basement. AMT data will assist in locating graben-related faults in the St-Bruno-de-Guigue area that are covered by quaternary sediments.
Regional remote sensing gas surveys to identify specific targets to provide useful remote sensing data for hydrogen and helium exploration.
Fieldwork can be carried out with access to properties through main roads and paved highways.
The Company is currently reviewing regional geologic data to assist in the evaluation of potential additional acquisitions in the immediate area as well as the formulation of an initial exploration plan with further details to be provided in due course.
Terms of the Agreement
Under the terms of the Agreement to acquire a 100% interest in 149 mineral claims, Company has agreed to pay $8,000 and issue 2.25 million common shares of the Company. No royalty is to be paid out of any potential future revenue. The Company's acquisition of the Property remains subject to customary conditions of closing, including the Company completing due diligence to its satisfaction and the approval of the Canadian Securities Exchange (if required), and is expected to complete shortly. The common shares issuable in connection with the Agreement will be subject to a four month hold period under applicable Canadian securities laws.
Qualified Person
The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo, who is a Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company's current portfolio include the 100% owned Ville Marie claims in Quebec, Canada as well as Company's Chilean projects which are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.
For more information, visit www.redmetalresources.com.
Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
Forward-Looking Statements - All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232251
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StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company") has mobilized and established key logistics for its 2025 exploration program at the Nagvaak Project ("Nagvaak"). Nagvaak represents a geological discovery with the potential to delineate a significant critical metals deposit on the Melville Peninsula. New regional exploration efforts and recently analyzed data have also highlighted a series of additional prospective targets.
Key Developments:
StrategX is focused on advancing Nagvaak as its flagship project, aiming to define a world-class critical metals deposit in Canada. With the summer financing having raised $4.5 million (see StrategX news release June 25th, 2024), the Company is well positioned to achieve its objectives, supporting both the global green energy transition and national supply chain security.
The establishment of a field base camp on the Melville Peninsula (see Figure 3.) is essential to support the success of future exploration programs developing a new critical metals province in Canada. This underexplored region exhibits geological similarities to other Proterozoic sedimentary belts hosting large-scale critical mineral deposits, providing a strong foundation for future discoveries.
StrategX filed its third-quarter results on November 29th, 2024, on SEDAR.
Figure 1. Melville Critical Metals Regional Belt Exploration Focus.
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Figure 2. Diamond drill rig set up at the first target site DDH1 at Nagvaak for the 2025 drill campaign.
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Figure 3. - StrategX's field base camp.
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About StrategX
StrategX is an exploration company focused on discovering critical metal deposits in Canada. With five strategic projects situated on the East Arm of the Great Slave Lake in the Northwest Territories and on the Melville Peninsula in Nunavut, we are pioneering exploration discoveries in these untapped regions. By integrating historical exploration data and applying innovative exploration methodology, StrategX is offering investors a unique opportunity to be part of multiple discoveries of new critical metal districts. These important metals are essential for supporting the global green energy transition and national supply chain security. For the latest updates and insights, visit our Investor Portal.
On Behalf of the Board of Directors
Darren G. Bahrey
CEO, President & Director
For further information, please contact:
StrategX Elements Corp.
info@strategXcorp.com
Phone: 778.231.2767
For further information about the Company, please visit our website at www.strategXcorp.com
Neither the Canadian Securities Exchange nor its regulation services accept responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232282
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Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to provide an update on its Rottenstone SW property where a gold discovery of 73.55 gt Au over 7.5m was identified in drillhole Ranger-01. The Company recently completed a mapping and sampling program to follow up on this discovery, and to groundtruth other potential targets that were generated from the 2023 TDEM geophysical survey.
The mapping and sampling program focused on the Ranger, Rogue, and newly identified Rush targets (Figure 1). During this program, a total of 312 rock samples and 225 soil samples were taken (Figure 2) throughout the Rottenstone SW property. Assays from this program are currently pending.
Figure 1: Area of Focus for the Sampling and Mapping Program.
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Figure 2: October 2024 field program sample overview, overlaying TDEM channel 25
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Ranger
The Ranger target is in an area of exposed bedrock ridges which parallel the NE-SW striking regional foliation. A NE-SW striking high-conductivity zone approximately 1350m in length is associated with the target. The main lithologies encountered in this area are migmatites and intrusive quartz diorite, with minor volcanic and sedimentary packages.
To date, gold mineralization has been found in two distinct rock packages. Prospecting in fall 2023 discovered two samples grading 5.11 g/t Au and 1.09 g/t Au in mafic packages within the migmatite country rock. These samples were located on separate ridges approximately 100m across regional strike (Figure 1). The discovery intercept of 73.55 g/t Au over 7.5m was found in a coarse grained quartz diorite. During the October 2024 field program, a total of 177 rock samples were taken around the Ranger target (Figure 3), with a focus on these two packages of interest.
Rogue
The Rogue target is located approximately 3km NW from Ranger. The area is heavily forested and is covered by 10m of glacial till overburden. The conductive geophysical targets appear to be associated with regional folding. The targets are located within the axis of these folds. Limited drilling to date has identified broad zones of chlorite alteration along with pyrrhotite, arsenopyrite, pyrite, and minor gold mineralization (see Ramp Metals' news release dated July 8, 2024). The Company believes that these indicators warrant further exploration of these targets. A total of 221 soil samples and 1 rock sample were taken throughout the Rogue target area.
Figure 3: Sample locations over Rogue & Ranger targets overlaying TDEM Channel 25
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Figure 4:Â Rusty Schist outcrop at 'Ranger'
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Figure 5:Â Channel sample taken at 'Ranger'
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Rush
The Rush target is a newly identified area of interest located approximately 7.5 km NW of Ranger. It consists of a NE-SW striking zone of high conductivity approximately 1200m in length. The area is heavily forested and bedrock exposure is limited to sporadic ridges which parallel the NE-SW regional foliation. A total of 56 rock samples and 24 soil samples were taken over the area. Disseminated Chalcopyrite and Malachite staining were noted in multiple rock samples.
This mineralized zone was traced for 20m along the base of an exposed ridge, and dips under cover to the NE and SW.
Figure 6: 'Rush' sample locations overlaying TDEM Channel 25. Photos of samples SRC416800 & SRC170558 can be seen in Figures 7 & 8 below.
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Figure 7: 'Rush' sample SRC416800 showing weathered ultramafic with malachite staining
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Figure 8. 'Rush' sample SRC170558. Example of Malachite staining taken at contact of ultramafic and migmatite
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"The Rush target is an exciting new development as it highlights just how underexplored the Rottenstone domain is," commented Garrett Smith, VP of Exploration at Ramp Metals Inc. "As we eagerly await the results from the October program, we are excited by the potential of a new deposit type to go along with our recent gold discovery."Â
The Company is currently planning an extensive airborne geophysical program in order to complete the dataset over the entire Rottenstone SW property. The geophysical program, combined with the lab results from the above-noted mapping program will be used to define drill targets in the upcoming winter drill program. An amendment to allow up to 5000m of drilling has been submitted to the Saskatchewan Ministry of Environment (see Ramp Metals' news release dated Oct 3, 2024) and is currently in the review process.
QA/QC and Geochemical Sampling Procedure
All rock and soil samples were taken, described, photographed, and bagged on-site. Control samples consisting of certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's QA/QC protocol at a rate of 1:15 or better. All samples were transported by Ramp Metals staff to a secure warehouse, packaged and then transported by Manitoulin Transport to Bureau Veritas Commodities Canada Ltd.("BV"), an internationally recognized and ISO 17025:2017 accredited analytical services provider, at its Vancouver, British Columbia laboratory.
Samples have been submitted to BV using the following packages and procedures:
Rock samples are prepared using the PRP70-250 package, where samples are weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then pulverized to greater than 85% passing 75 microns. Samples are then analyzed in accordance with BV's FA330 and MA300 packages, for both gold, platinum and palladium analysis by fire assay (30g fire assay with AAS finish) and multi-element ICP analysis (0.25 g, multi-acid and ICP-ES analysis). Gold returning >10ppm is automatically analyzed by gravimetric method in accordance with BV's standard of practice.
Soil samples are prepared using BV's SS80 package, where samples are dried at 60°C and sieved to depletion to -180 μm (80 mesh). Samples are then analyzed in accordance with BV's AQ251+PGM package, an ultra-trace by ICP-MS analysis where aqua regia digestion is used for low to ultra-low determination on soils followed by a 37 element (including gold) ICP-MS with the platinum, palladium add on for analysis of a 15g sample.
Qualified Person
Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has a new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Ramp Metals Inc.
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
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