The Conversation (0)
Fabled Copper Corp. ("Fabled" or the "Company") (CSE:FABL)(FSE:XZ7) is pleased to announce two concurrent non-brokered private placements (collectively, the "Offerings") to raise aggregate gross proceeds of up to CAD$1,500,000
Fabled Copper Receives Drill Permit and Outlines Proposed 2024 Drill Program on Davis Keays Eagle Vein
Fabled Copper Corp. ("Fabled Copper" or the "Company") (CNSX:FABL)(FRA:XZ7) announces that it has received its Mines Act Permit which entitles the Company to drill from 15 drill stations over a period of 2 years on the Muskwa Copper Project
The Muskwa Project is comprised of the Neil Property, the Toro Property and the Bronson Property located in northern British Columbia. The Neil Property area was granted the drilling permit and in particular the Davis Keays Eagle Vein area is the Company's first priority interest. See Figure 1 below.
Figure 1 - Location Map
Peter Hawley, President, CEO reports; "We at Fabled Copper Corp. are very excited to finally receive our long-awaited drill permit. Subject to funding being available, the Company wishes to embark on a helicopter supported diamond drill program consisting of 3,000 - 5,000 meters on the First Priority Davis Keays Eagle Vein. This will be the first ever surface drilling of the Eagle Vein area known.
As outlined below and through detailed cutting-edge technology we believe the question is not if we will intercept the Eagle vein given our target accuracy is 3 cms BUT how many copper bearing veins will we intercept before hitting the Eagle Vein. Not only is the potential upside redefining the Eagle vein ore body but also evaluating the Eagle vein below the current 5,800 level and the potential of the parallel veins sets evaluated during the 2022 work program."
Background
A May 1990 Feasibility Report to the Davis Keays Mining Co. ("David Keays") outlined a 6 year, 365,000 tons / year mining life of the Eagle Vein based on $0.60 per pound copper.
To support their findings, over period of 3 months, 8 feet high by 9 feet wide adits were driven by Davis Keays into the mountain on the Eagle vein on the 7,300 level, 6,950 level and 6,400 levels, and at every 300 foot centers 110-120 foot cross cuts were excavated for underground diamond drilling where the area was drilled above and below the levels.
In addition, all the entire excavated underground workings were mapped and vein chip sampled at 10 foot intervals and whereever the vein went into the wall, sampled with a test hole.
Based on these findings the Feasibility Report outlines Proven Reserves of 1,007,360 tons grading 3.56% copper, *Probable Reserves of 562,320 tons grading 3.18% copper and Possible Reserves grading 3.18% copper.
As mentioned in the report, "these Reserves are to the 5,800 foot level only but there is no geological reason to expect the vein the terminate at this level. There are excellent possibilities of extending these Reserves, through a continuing of exploration and development to depth on the Eagle Vein and other known veins as well.
Shortly thereafter, and as a result of the development work post Feasibility Study, the 5,800 level was developed. See the Company's press release dated September 28, 2022 to view the entrances of 6400 and 5800 adit portals.
The work carried out under the 1990 Feasibility Report was not carried out or reported using current categories of Mineral Resources or Mineral Reserves under NI 43-101. A Qualified Person has not done sufficient work to classify the abovementioned historical estimate as a current resource. The Company is not treating the historical estimate as a current resource. The Company's proposed 2024 drill program will seek to begin the process of verifying the historical estimate and exploring the Eagle Vein below the 5,800 level.
Fabled Copper's 2022 work on Eagle Vein Area
Below is a summary of the results of Fabled Copper's work on the Eagle Vein undertaken in the summer of 2022. The below dates reference the dates of the Company's press releases in which readers can find further information.
April 27, 2022 - Fabled Copper Corp Reports on the Davis Keays UAV Drone Mission Survey
"16 terrain - following missions were completed over the area with 3-23 cm resolution and grade accuracy of 1-3 cm."
- May 4, 2022 - Fabled Copper Reports on Davis Keays Eagle Vein Area with 6 Additional Parallel Veins discovered and Values as high as 6.73%
- May 11, 2022 - Surface Geophysics outlines Parallel EM Conductor to the Eagle Vein at Davis Keays. Detailed ground VLF - Electromagnetics and Total Field Magnetics. A strong parallel EM conductor was delineated 160 meters northwest of the Eagle Vein."
- May 25, 2022 - Underground Inspection of Eagle Vein does not disappoint.
- June 1, 2022 - Interpretation of Davis Keays Eagle Vein Area Defined Three Structural Corridors. One of which corresponds to the Eagle Vein with at least 5 additional vein sets in addition to the eagle vein and all having the same attitude.
- September 28, 2022 - Fabled Secures Underground Portals.
- October 12, 2022 - Fabled Presents Preliminary Underground LiDAR Survey Findings. 913.93 meters of the 6,400 foot level of the Eagle Vein was surveyed with a maximum error of 3.61 cm and clearly outlines the copper mineralization and veining."
The Company will provide details of the proposed 2024 drill program, which is dependent upon securing additional financing, in due course.
As always Fabled Copper acknowledges that the Muskwa project occurred on lands and in watersheds of importance to Kaska, Fort Nelson First Nation, and Treaty 8 Nations. We are honored to share responsibility for the stewardship of these places.
About Fabled Copper Corp.
Fabled is a junior mining exploration company. Its current focus is to creating value for stakeholders through the exploration and development of its existing drill ready copper properties located in northern British Columbia. The Company's current property package consists of the Muskwa Project and the Bronson Property and comprises approximately 16,219 hectares in three non-contiguous blocks and located in the Liard Mining Division in northern British Columbia.
Mr. Peter J. Hawley, President and C.E.O.
Fabled Copper Corp.
Phone: (819) 316-0919
peter@fabledcopper.org
For further information please contact:
The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital
on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
SOURCE:Fabled Copper Corp.
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FABLED COPPER Samples Three Road Side Lithium Bearing Pegmatite Outcrops on Volt 1 Property, Quebec
Fabled Copper Corp. (" Fabled " or the " Company ") (CSE:FABL; FSE:XZ7) is pleased to announce the first Phase sampling program on the Volt 1 Property in Quebec
The VOLT 1 Property is comprised of 9 contiguous cells with a total size of 504 hectares. The VOLT 2 Property is comprised of 2 contiguous cells nearby with a total size of 112 hectares. Both properties are located due east of the village of Miquelon, Quebec and are surrounded by Mosaic Minerals Corp.'s (CSE: MOC) "Lithium SM Project."
Figure 1 - Volt Property Location
Preamble
The late spring and summer of 2023 has been challenging due to forest fires in northern Quebec and as a result work in the forest was prohibited. In late July 2023 the ban was lifted for one day in the area of the VOLT 1 Property area and a first phase exploration sampling program was conducted over a period of half a day due to locating property access. The main objectives of the program were as follows:
- Accessibility, road conditions, field conditions.
- Do reported pegmatites exist and over what area.
- If pegmatites are found, are they boulders, glacial trains or insitu outcrops.
- Do the boulders and or outcrops contain lithium and or associated subset of minerals and are the concentration of minerals associated with a particular type of texture, fine grained verses coarse grained.
- And finally do the results warrant and more comprehensive field program.
Discussion on the Findings.
During late July, 2023 the VOLT 1 Property was prospected and sampled over a half day and samples 28921 - 28923, were collected over an area of approximately 500 meters in length. See Map 1 below, Table 1 below.
The purpose of the sampling to was obtain typical pegmatite samples over the greatest area possible, in the fasted time possible due to travel distance back to Val D'Or. The 3 samples taken on outcropping pegmatites on a west trending road in the central portion of the property are by no means indicative of the property potential.
The volume of visible surface outcroppings on the higher portion of the property should allow a proper property wide evaluation. See Map 1 - Sample locations and yellow arrows indicating visible outcrops from google earth. Note the extent of outcropping form the road sampled.
Map 1 - Sample Locations
The central 3 outcrops sampled were composed of fine grained pegmatite. LTC pegmatites comprise a compositional defined subset of granitic pegmatites. The majority minerals are quartz, potassium feldspar, albite and muscovite all present in the pegmatites viewed See Photo 3 below.
LTC pegmatites crystallize at remarkably low temperatures (about 350 - 550 C) in a short period of time thus the large crystal sizes of associated minerals.
Photo 1 - Sample No. 28921 of road side pegmatite outcrop
Photo 2 - Sample No. 28922 of road side pegmatite outcrop
Photo 3 - Close Up of Sample No. 28922 , note muscovite content
Photo 4 - Sample No. 28923 of road side pegmatite outcrop
Early stage reconnaissance in the central part of the property has confirmed the presence of lithium (Li), cesium (Cs), tantalum (Ta), rubidium (Rb), beryl (Be), potassium (K) and niobium (Nb) in all 3 samples except for sample 28921 which lacked Ta. See Table 1 below.
Of the 3 samples, No. 28922 was very elevated compared to the other 2 samples.
Sample Number | Rock Type | Exposure Type | Li ppm | Cs ppm | Ta ppm | Rb ppm | Be ppm | K ppm | Nb ppm |
| 28921 | Medium Grained pegmatite | Surface Out Crop | 21.60 | 2.04 | 0.005 | 21.40 | 0.41 | 0.28 | 0.706 |
| 28922 | Fine Grained pegmatite | Surface Out Crop | 110.50 | 13.10 | 0.010 | 63.10 | 0.41 | 0.28 | 2.630 |
| 28923 | Fine Grained pegmatite | Surface Out Crop | 82.50 | 5.00 | 0.018 | 28.10 | 0.58 | 0.18 | 3.000 |
Next Step Forwards
With only 3 samples taken over the entire property, mineral assays of interest and excellent road access in the central sector and as seen by google earth wide-spread out crop is yet to be sampled a Second Phase Exploration Program has already begun with a team currently in the field. This work will consist of follow:
About Fabled Copper Corp.
Fabled is a junior mining exploration company. Its current focus is to creating value for stakeholders through the exploration and development of its existing drill ready copper properties located in northern British Columbia. The Company's current property package consists of the Muskwa Project and the Bronson Property and comprises approximately 16,219 hectares in three non-contiguous blocks and located in the Liard Mining Division in northern British Columbia.
The Company is also seeking to broaden and diversify its portfolio. The Company has acquired the VOLT 2 lithium Property, located in Miquelton, Quebec and has options to acquire the OHM Property, located in Val D'Or, Quebec and the VOLT 1 Property located in the Miquelton, Quebec.
Mr. Peter J. Hawley, President and C.E.O.
Phone: (819) 316-0919
For further information please contact:
The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition, development plans and business plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the failure of the shareholders of the Company to approve the Consolidation Proposal, impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; inability to obtain drilling permits; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
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Fabled Copper Outlines 8 km by 2 km Pegmatite Boulder Field With Pegmatite Outcropping in Central Portion of OHM Property, Quebec
Fabled Copper Corp. ("Fabled" or the "Company") (CSE:FABL)(FSE:XZ7) is pleased to announce the results of the first phase sampling program on the OHM Property (the "Property
The OHM Property consists of 51 contiguous cells comprising of 2,856 hectares located approximately 70 kms south of Val D'Or. The OHM Property can be easily accessed from the main highway, route 117 and forestry roads 43 and 44 with numerous secondary cutting roads. It is estimated that 80% of the Property has been logged thus outcrop visibility is excellent.
A minimum of at least 10 pegmatite outcrops have been documented by the previous operators of the Property. No documented work has been done in the search for lithium within the pegmatite swarms. See Figure 1 below.
Figure 1 - OHM Property
Preamble
The late spring and summer of 2023 was challenging due to forest fires in northern Quebec and as a result work in the forest was prohibited. In late July 2023 the ban was lifted for the OHM Property area and a first phase exploration sampling program was conducted over a period of a week. The main objectives of the program were as follows:
- To determine accessibility, road conditions, field conditions.
- To determine if pegmatites exist on the Property and over what area.
- If pegmatites were found, to determine if they were boulders, glacial trains or insitu outcrops.
- If boulders (not in place), what is the shape (rounded means transported a great distance, angular (meaning not traveled very far or heaved up from frost from outcrop below).
- If coarse grained meaning slow cooling or outer envelope of an intrusive, if fine grained, fast cooling and closer to the heat source.
- To determine if the boulders and or outcrops contained lithium and or associated subsets of minerals and are the concentration of minerals associated with a particular type of texture, fine grained verses coarse grained.
- And finally do the results warrant a more comprehensive field program.
Discussion on the Findings.
During the week of July 17th, 2023 the Property was prospected and 19 samples numbered 28902 - 28920 were collected over an area of approximately 8 kilometers in length and 2 kilometers in width, being 1600 hectares of the 2,856 hectares in total on the property. See Map 1 below, Table 1 below.
The purpose of the sampling to was obtain typical pegmatite samples over as great an area as possible to determine if any one area is more favorable for further exploration. Hundreds of angular and lesser amount of rounded pegmatite boulders were seen. The center location of the property has pegmatite outcropping / sub cropping with the dimensions yet to be determined.
Geologic rock sequences observed were meta - seds traversing the Northwest sector, followed by bands of amphibolite kneiss followed by a 2 kilometer with of pegmatite boulders with outcrop terminated by Lac Rochester to the southeast. All observed trends are approximately N45E, including Lac Rochester.
Map 1 - Sample Locations
The northeast sector contains very course to knobby pegmatite while the southwest sector contains fine grained pegmatite. LTC pegmatites comprise a compositional defined subset of granitic pegmatites. The majority minerals are quartz, potassium feldspar, albite and muscovite all present in the pegmatites viewed except for 5mm garnets present in the knobby and coarse pegmatites. See Photo 1 below.
LTC pegmatites crystallize at remarkably low temperatures (about 350 - 550 C) in a short period of time thus the large crystal sizes of associated minerals.
Photo 1 - Knobby Pegmatite to left, Coarse grained Pegmatite to Right
Outcrop and sub crop in the central section as shown below. See Photo 2 below.
Photo 2 - Outcrop on left, sub crop on right
Early stage reconnaissance in the central part of the property has confirmed promising K / Rb (potassium to rubidium) ratio's in two samples, (28913, 28914) a proven indicator for lithium fertility according to the work of Stelway & al. (2004) for LTC (Lithium - Cesium - Tantalum type pegmatites. As supporting evidence elevated lithium and cesium are contained in the two samples. See Table 1 below.
Sample Number | Rock Type | Exposure Type | Li ppm | Cs ppm | Rb ppm | Be ppm | K ppm |
| 28902 | Coarse pegmatite | Angular boulder | 4.7 | 0.289 | 8.55 | 0.04 | 0.2 |
| 28903 | Coarse pegmatite | Angular boulder | 8.6 | 0.774 | 27.7 | 0.04 | 0.46 |
| 28904 | Coarse pegmatite | Angular boulder | 6.9 | 0.646 | 23.7 | 0.04 | 0.4 |
| 28905 | Coarse pegmatite | Angular boulder | 2 | 0.093 | 1.09 | 0.02 | 0.04 |
| 28906 | Coarse pegmatite | Angular boulder | 10.8 | 1.035 | 31.1 | 0.04 | 0.61 |
| 28907 | Coarse pegmatite | Angular boulder | 11.6 | 2.45 | 30.5 | 0.08 | 0.42 |
| 28908 | Coarse pegmatite | Angular boulder | 2.6 | 0.241 | 5.07 | 0.04 | 0.14 |
| 28909 | Fine pegmatite | Out crop | 29.4 | 1.175 | 41.1 | 0.07 | 0.37 |
| 28910 | Coarse pegmatite | Angular boulder | 7.3 | 1.075 | 18.75 | 0.05 | 0.35 |
| 28911 | Coarse pegmatite | Angular boulder | 0.8 | 0.282 | 3.9 | 0.04 | 0.09 |
| 28912 | Coarse pegmatite | Angular boulder | 0.1 | 0.19 | 2.9 | 0.02 | 0.11 |
| 28913 | Knobby pegmatite | Out crop | 45.8 | 8.65 | 150 | 0.12 | 3.24 |
| 28914 | Knobby pegmatite | Angular boulder | 15.7 | 2.07 | 62.1 | 0.07 | 1.03 |
| 28915 | Coarse pegmatite | Angular boulder | 3.2 | 0.623 | 11.4 | 0.04 | 0.24 |
| 28916 | Coarse pegmatite | Angular boulder | 0.9 | 0.243 | 3.99 | 0.02 | 0.12 |
| 28917 | Fine pegmatite | Rounded boulder | 4.2 | 0.295 | 12.8 | 0.04 | 0.23 |
| 28918 | Fine pegmatite | Rounded boulder | 4.6 | 0.289 | 12.9 | 0.05 | o.24 |
| 28919 | Coarse pegmatite | Angular boulder | 2.7 | 0.57 | 10.35 | 0.02 | 0.16 |
| 28920 | Fine pegmatite | Rounded boulder | 2.8 | 0.553 | 10.3 | 0.02 | 0.17 |
Next Steps
With only 19 samples taken over the entire property and given mineral assays of interest located in the central sector and hundreds of pegmatite boulders on the Property yet to be sampled, plus out cropping and sub cropping pegmatites that have not yet been systematically sampled the Company proposes to undertake a Second Phase Exploration Program that it currently believes will consist of following:
- An in-depth review of Quebec Ministere des Ressources naturelles et des Forets SIGEOM data base with particular attention to gradient and residual magnetics; magnetic tilt angle, magnetic analytic and magnetic analytic signal and the shadow relief LIDAR over the property.
- A Property wide detailed sampling program using diamond blade rock saws to obtain both insitu and channel samples due to the hardness of the pegmatites.
- Detailed structural and pegmatite composition and size mapping of outcrops in the central area.
About Fabled Copper Corp.
Fabled is a junior mining exploration company. Its current focus is to creating value for stakeholders through the exploration and development of its existing drill ready copper properties located in northern British Columbia. The Company's current property package consists of the Muskwa Project and the Bronson Property and comprises approximately 16,219 hectares in three non-contiguous blocks and located in the Liard Mining Division in northern British Columbia.
The Company is also seeking to broaden and diversify its portfolio. The Company has acquired the VOLT 2 lithium Property, located in Miquelton, Quebec and has options to acquire the OHM Property, located in Val D'Or, Quebec and the VOLT 1 Property located in the Miquelton, Quebec.
Mr. Peter J. Hawley, President and C.E.O.
Fabled Copper Corp.
Phone: (819) 316-0919
peter@fabledcopper.org
For further information please contact:
The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition, development plans and business plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the failure of the shareholders of the Company to approve the Consolidation Proposal, impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; inability to obtain drilling permits; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
SOURCE:Fabled Copper Corp.
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Fabled Copper Closes Debt Settlement and Terminates Proposed Acquisition of the TJ Property
(TheNewswire)
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Vancouver, British Columbia TheNewswire August 18, 2023 - Fabled Copper Corp. (" Fabled " or the " Company ") (CSE:FABL ) ; ( FSE:XZ7) announces that it closed, on August 10, 2023, its previously announced debt settlement pursuant to which the Company settled an aggregate amount of C$30,000 in outstanding debt (the " Debt Settlement ") in exchange for the issuance of 375,000 units at a price of C$0.08 per unit (each a " Unit ").
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Fabled Copper Agrees Debt Settlement
Fabled Copper Corp. ("Fabled" or the "Company") (CSE:FABL)(FSE:XZ7) announces that it proposes to enter into a debt settlement agreement with a consultant, pursuant to which the Company will agree to settle an aggregate amount of C$30,000 in outstanding debt (the "Debt Settlement") in exchange for the issuance of 375,000 units at a price of C$0.08 per unit (each a "Unit
Each Unit will consist of one common share (each a "Common Share") and one common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at the price of $0.12 per share for a period of 24 months from closing.
The securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Pursuant to the policies of the Canadian Securities Exchange, the Debt Settlement will close five business days from the date of this press release.
About Fabled Copper Corp.
Fabled is a junior mining exploration company. Its current focus is to creating value for stakeholders through the exploration and development of its existing drill ready copper properties located in northern British Columbia. The Company's current property package consists of the Muskwa Project and the Bronson Property and comprises approximately 16,219 hectares in three non-contiguous blocks and located in the Liard Mining Division in northern British Columbia.
The Company is seeking to broaden and diversify its portfolio. The Company has acquired the VOLT 2 lithium Property, located in Miquelon, Quebec and has options to acquire the OHM Property, located in Val D'Or, Quebec and the VOLT 1 Property located in the Miquelon, Quebec. The Company is also seeking to add an additional high grade gold and silver property, the TJ Ridge Property in British Columbia for which it has entered into a letter of intent.
Mr. Peter J. Hawley, President and C.E.O.
Fabled Copper Corp.
Phone: (819) 316-0919
peter@fabledcopper.org
For further information please contact:
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition, development plans and business plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the failure of the shareholders of the Company to approve the Consolidation Proposal, impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; inability to obtain drilling permits; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
SOURCE:Fabled Copper Corp.
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Cygnus Metals Ltd. Opens the Market
Ernest Mast, President and Managing Director, Cygnus Metals Ltd. (TSXV: CYG) ("Cygnus Metals" or the "Company"), and his team, joined Robert Peterman, Chief Commercial Officer, Toronto Stock Exchange (TSX), to open the market to celebrate the Company's new listing on TSX Venture Exchange.
Cygnus Metals Limited (TSXV: CYG) (ASX: CY5) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.
MEDIA CONTACT:
Laurie Gaborit
Advisor, Investor Relations
lgaborit@cygnusmetals.com
416.219.2049
Paul Armstrong
Read Corporate
+61 8 9388 1474
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236970
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Osisko Metals Welcomes the Participation of the Quebec Government in Its Gaspé Copper Project
Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to welcome the participation of the Government of Quebec in its Gaspé Copper Project, located next to the Town of Murdochville in the Gaspé Peninsula, on the traditional territory of the Mi'gmaq First Nation of Gespe'gewa'gi.
The Government of Quebec will lead a pilot project to create a committee that seeks to maximize the economic benefits of the Gaspé Copper Project. The committee will be overseen by the Ministère des Ressources naturelles et des Forêts (Quebec Ministry of Natural Resources and Forests) and aims to optimize socio-economic benefits in the Gaspé Peninsula by ensuring strong collaboration with the business community throughout the project development process.
The announcement was made today in Murdochville during a press conference by Ms. Maïté Blanchette Vézina, Minister of Natural Resources and Forests and Minister Responsible for the Bas-Saint-Laurent Region and the Gaspésie−Îles-de-la-Madeleine Region, along with Mr. Stéphane Sainte-Croix, MNA for Gaspé, and local representatives. Mr. Robert Wares, CEO of Osisko Metals, also participated in the press conference.
Minister Maïté Blanchette Vézina said, "I am very proud of the creation of this maximization committee, which will act as a lever for cooperation and transparency in this project. This approach demonstrates our government's desire to develop mining activities harmoniously, as evidenced by the modernization of the Mining Act. Copper and its derivatives are minerals we need to be interested in for our energy transition, and completing this mining project could ultimately help secure our supplies. I want to thank all the stakeholders in advance for participating in the committee."
"This initiative by our government demonstrates our commitment to help create winning conditions for the participation of economic stakeholders and the development of business opportunities associated with the Gaspé Copper project," added Mr. Stéphane Sainte-Croix, MNA for Gaspé. "As such, we are convinced that this pilot project will allow for a structuring and harmonious integration of stakeholders in the economic project and will contribute significantly to the major benefits that will participate in the development and visibility of the region."
On behalf of Osisko Metals, Mr. Wares said, "We are delighted to have the participation and support of the Government of Quebec in the advancement of the Gaspé Copper project. Osisko Metals intends to develop the project in harmony with the citizens of Murdochville and the Gaspé Peninsula, the Mi'gmaq community of Gespe'gewa'gi and the local business community while prioritizing respect for the environment and sustainable development in our activities. We firmly believe that Gaspé Copper could become an economic pillar that will benefit the Gaspé Peninsula for several decades to come."
About the Project
Osisko Metals' Gaspé Copper project aims to restart the Murdochville Gaspé Copper mine by 2031. The former mine site contains excellent estimated resources of copper, a critical and strategic mineral that is increasingly in demand worldwide, and other important by-products in the industry, such as molybdenum. The Gaspé Copper Project is currently in the advanced exploration phase and Osisko Metals plans to continue its feasibility studies until 2027.
Responsible and Harmonious Collaboration
On the ministerial side, the announced pilot project comes from the 2024-2025 Roadmap for the harmonious and responsible development of mining activity , also made public today by the Minister of Natural Resources and Forests. This roadmap stems more broadly from the major observations made following the Participatory Approach for the Harmonious Development of Mining Activity, carried out in the spring of 2023, which included social acceptability, the participation of local communities and the maximization of economic benefits.
The objectives of the maximization committee formed in Murdochville, therefore, aim to improve and consolidate approaches that promote economic benefits on a regional scale, increase the participation of local and Indigenous business communities in the development of the project, and identify opportunities within the circular economy. Creating a place for exchanges between the business community and Osisko Metals also facilitates the overall understanding of the project and the opportunities it creates in the area. Various local and regional economic development organizations - municipal, governmental, business and Indigenous – will sit on the committee.
Osisko Metals' Leadership
Osisko Metals is also proud of the leadership role it plays in the industry and on the provincial scene, as its participation in this pilot project will allow the Ministry to identify best practices for maximizing benefits in mining project host communities and to develop a program of support that facilitates the establishment of this type of committee in other regions of Quebec.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc.
The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ' s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of  824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled " Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper ". Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ' s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq" . The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: info@osiskometals.com
Follow Osisko Metals on Facebook at https://www.facebook.com/osiskometals , on LinkedIn at https://www.linkedin.com/company/osiskometals , and on X at https://twitter.com/osiskometals .
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the anticipated changes to the management and Board of the Company; the ability for the Company to complete the Transaction on the terms contemplated (if at all); the size of the Transaction; the Closing Date of the Transaction; the ability for the Company to obtain the conditional and final approval of the TSX Venture Exchange; the anticipated use of proceeds of the Transaction; the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company's trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the expectation that management and directors of the Company will be significant shareholders of the Company following the Transaction; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system; and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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FPX Nickel Announces Results of Baptiste Nickel Project Economic Impact Study
FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce the results of an Economic Impact Study (the "Study" ) completed for the Company's Baptiste Nickel Project (" Baptiste " or " the Project "). The Company engaged Mansfield Consulting Inc. to assess the potential regional, provincial, and national economic impact of the Baptiste Nickel Project, based on the findings of the Company's Pre-Feasibility Study ("PFS" ) published in September 2023 .
The Economic Impact Study focuses on quantification of the economic impacts that would be created by the development and ongoing operations of the Project, and assesses the regional employment impacts created by the Project; the Study does not replace or alter the findings of the PFS. Amounts herein are in Canadian Dollars unless otherwise noted.
"This Study clearly demonstrates the economic value of Baptiste to central B.C., the province, and Canada , positioning the Project as one with not just regional, but national significance for more than 30 years. This includes the significant opportunity for Indigenous leadership and direct economic participation in major projects such as Baptiste. As we progress with Project development, FPX is committed to continuing to assess and define the Project with First Nation communities. We believe the addition of Baptiste to the established mines operating in this region, including the Mt. Milligan Mine and the Blackwater Mine, will provide much-needed opportunities for local workers and businesses given the anticipated decline in regional forestry activity in the decades to come."
-Â Â Martin Turenne, President and CEO of FPX Nickel
"B.C. is positioned to take advantage of the growing demand for critical minerals. The Province has established a Critical Minerals Office to guide projects and ensure they move efficiently through regulatory processes, and I want to recognize FPX Nickel Corp. for being the first company supported by that Office. The Baptiste Project has tremendous potential, and we are excited to see what the future holds. Together, we are creating opportunities, collaborating with First Nations to the benefit of all, and advancing projects that could be the critical minerals mines of tomorrow."
-Â Â The Honourable Jagrup Brar, British Columbia's Minister for Mining and Critical Minerals
Economic Impact Study Highlights
- Total Gross Domestic Product (GDP) of $45.6 billion
- Total labour income of $17.5 billion
- Total direct, indirect and induced tax revenues of $15.5 billion , broken down as follows:
- Federal taxes: $6.2 billion
- Provincial taxes: $8.5 billion
- Municipal taxes: $0.8 billion
- Total employment of 208,000 job-years including direct, indirect, and induced jobs over the life of mine
- This equates to an average of approximately 1,100 direct and 3,400 indirect jobs created per year from construction to the end of operations
- Assuming 61% of positions will be filled through regional employment, this equates to over 600 Bulkley-Nechako/ Prince George residents employed per year on average, for over 32 years
- The Baptiste Nickel Project is projected to create well-paying jobs. Based on data published by the Mining Association of British Columbia , the estimated average annual salary in the B.C. mining industry is $139,000 , which is 26% higher than the median household income in Prince George in 2022, as reported by Statistics Canada.
Summary of Economic and Employment Impacts
A phased development approach is considered in the PFS, with an initial mill throughput rate of 108,000 tonnes per day (Phase 1), followed by an expansion to 162,000 tonnes per day (Phase 2) in Year 8 of the mine life.
The PFS projected the initial development of the mine to take place over three years (Years -3, -2, -1) with a total capital cost of approximately $2.9 billion . Expansion of the mine would take place over two years (Years 8 and 9) at a cost of approximately $1.0 billion . Over the nine-year duration of Phase 1 operations, the PFS projected average annual revenues of approximately $1.1 billion , and over the twenty-year duration of Phase 2 operations, the Project would achieve average annual revenues of approximately $1.6 billion .
Table 1 provides a summary of the economic impact of the Project by phase:
Table 1 – Total Economic Impacts By Phase of Project
Dollar amounts in $ billion, totals may not sum due to rounding
Criteria | Total GDP | Total | Total | Total Tax |
Initial Development | 3.3 | 2.2 | 19,800 | 0.8 |
Mine Expansion | 1.1 | 0.7 | 6,500 | 0.3 |
Mine Operations | 41.2 | 14.6 | 181,900 | 14.5 |
Total | 45.6 | 17.5 | 208,100 | 15.6 |
Table 2 provides a summary of the economic impact of the Project on the municipal, provincial, and federal government revenues, including taxes from direct, indirect and induced activities (thus total taxes are higher than as released in the Company's 2023 PFS).
Table 2 – Taxes Attributable to Mine Development and Operations
Amounts in $ million, totals may not sum due to rounding
Criteria | Federal Taxes | Provincial Tax | Municipal Tax |
Initial Development (3 years) | 421 | 338 | 53 |
Mine Expansion (2 years) | 144 | 117 | 19 |
Mine Operations (29 years) | 5,616 | 8,083 | 753 |
Total | 6,181 | 8,538 | 825 |
Table 3 provides a summary of the direct, indirect, and induced jobs created by the project per year, by Project phase.
Table 3 – Number of Jobs By Mine Phase (Note 1)
Criteria | Initial | Phase 1 | Expansion | Phase 2 | Average |
Direct Jobs Per Year | 2,600 | 700 | 1,200 | 1,000 | 1,100 |
Indirect Jobs Per Year | 2,300 | 2,700 | 3,800 | 3,800 | 3,400 |
Induced Jobs Per Year | 1,700 | 1,500 | 2,400 | 2,100 | 1,900 |
Note 1: Direct impacts are changes that occur in "front-end" businesses that initially receive operating revenues and incur expenditures. During the development or extension of a mine, direct impacts occur with the mine owner and with other businesses that receive a portion of the initial spending on a project (for example, engineering companies engaged to help develop a project). During the operation of a mine, direct impacts occur with the mine owner and with other businesses that may receive a portion of the mine revenues. Indirect impacts are changes that occur with suppliers of the front-end businesses. Induced impacts are changes that occur in the general economy through the spending by employees of front-end businesses and suppliers.
Regional Direct Employment
A substantial portion of direct employment at the mine site is anticipated to be filled by residents of the Bulkley-Nechako Regional District, Prince George and surrounding areas. The 2023 PFS assumed that residents of Bulkley-Nechako and Prince George would fill a combined average of 633 full-time positions or 61 percent of the total employment at the mine, resulting in 283 Bulkley-Nechako Residents and 350 Prince George residents employed per year on average over 32 years.
To place the on-site employment of Bulkley-Nechako residents in context, it was compared with regional employment in other industries. According to census profiles, the largest industry by employment in the main Bulkley-Nechako communities of Burns Lake , Vanderhoof , Fort St James and Fraser Lake is manufacturing (primarily wood product manufacturing), accounting for 655 people out of the total labour force of 4,215 people. As displayed in Figure 2, the average employment of 283 from Baptiste plus other existing mines would make the Mining, Quarrying, and Oil & Gas Extraction sector the largest resource industry employer in the region.
Andrew Osterloh , P.Eng., FPX's Senior Vice President, Projects & Operations, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.
About the Baptiste Nickel Project
The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia . In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.
FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.
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
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.
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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Awalé's Transformative 2024 Sets the Stage for an Ambitious 2025
HIGHLIGHTS
Charger Zone: A significant gold target in Awalé's portfolio, marking a transformative achievement in 2024 with some of the highest-grade intercepts in Africa in the last 12 months.
BBM Zone and Trend: Successful delineation and expansion of a significant gold and copper target with district scale potential for growth.
Financial Strength: Well-funded with nearly $10M on hand for 100%-owned property exploration and a robust partnership with Newmont.
Strengthened Leadership: New additions to the Board and Management bring aligned focus, driving Awalé's strategic growth and long-term shareholder value.
District-Scale Potential: Awalé's extensive land package is primed for discovery, supported by our iron oxide copper gold (IOCG) geological model, unlocking untapped opportunities across the region.
2025 Exploration Plan: Robust and comprehensive plan to continue de-risking BBM and Charger targets, and expand exploration focus across a broader regional scale to unlock the full potential of the Odienné project.
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to provide a review of its achievements in 2024 and share its outlook for the first half of 2025. This exciting phase includes commencing drilling on our 100%-owned Fremen property, continuing to de-risk the BBM and Charger targets, and expanding our exploration focus across a broader regional scale to unlock the full potential of the Odienné project. A follow-up update will be provided later in the year to review full-year progress and outline plans for the remainder of 2025.
"On behalf of the Awalé team, I want to thank our investors for their support over the past year. With a solid balance sheet, a valued joint venture partner, and significant milestones achieved in 2024, we have established a strong foundation for an ambitious year ahead. Driven by a disciplined approach to exploration and discovery, we remain confident in our strategy and are steadfast in our commitment to unlocking the full potential of the Odienné project, delivering sustained value to our shareholders. Moreover, we take pride in fostering sustainable development and building meaningful partnerships in the communities where we operate, creating a lasting positive impact in the region," Commented Andrew Chubb, CEO of Awalé Resources.
View video of CEO Andrew Chubb and VP Exploration Andrew Smith discussing upcoming plans
2025 H1 Outlook
Awalé is committed to providing consistent and transparent updates throughout 2025. Our exploration efforts will prioritize key zones, leveraging innovative strategies to drive discovery and advance resource delineation, adding value to our shareholders and local stakeholders.
Key Zones and Targets
Fremen Target (100% Awalé)
- Overview: A new 3.5km-long target, 4km on strike from BBM discovery.
- Induced Polarisation ("IP") geophysics to commence in January 2025, with the aim to further delineate the BBM trend.
- 2000m of maiden reverse circulation (RC) drilling planned, with results expected from March 2025.
100% Awalé Permits
- Overview: 1,693km2 untested ground, in the same geology as the four major Awalé discoveries.
- Activities: 2025 will see initial drilling on the Fremen target along with systematic early-stage target generation with mapping and geochemistry surveys and with airborne programs, including magnetic and radiometric surveys.
BBM Zone
- Overview: Drill, develop, and expand the higher-grade shoots within structurally controlled gold-copper mineralization. A broad IP survey to be completed over the BBM zone, targeting strike extents of the initial discovery zone.
- Diamond Drilling Plan: 7000m planned for the BBM zone, including 3000m within the discovery area.
- Timeframe: Diamond drilling started in Q4 2024 and is ongoing, with a regular flow of results expected from January 2025.
BBM Trend
- Overview: Newly identified targets, Boba and Fett, highlight the strike potential of the BBM trend.
- Activities: 150 line-km of IP geophysics is planned to cover over 10km of the BBM trend, followed by up to 7000m of RC drilling.
- Timeframe: IP survey scheduled for completion in January 2025, with RC drilling to follow in February 2025.
- Initial drill results are expected from April 2025.
Charger Zone
- Overview: Following up on the spectacular 2024 gold results; diamond drilling is planned to further delineate and expand this promising zone.
- Diamond Drilling Plan: 2000m planned to test the continuity of a new geology fold model and rapidly advance the volume potential of this target.
- Timeframe: Initial drilling has commenced in early January 2025, with results expected from February 2025.
- Drilling success will drive further diamond drilling in Q1.
Empire Zone
- Overview: Awalé's first and significant gold discovery. Infill diamond drilling is planned, with the aim to bring the target back online for further expansion drilling and development.
- Drill results expected from March 2025.
Lando Target
- Overview: System drilling aims to test the full potential of the largest copper-gold-in-soil anomaly in the joint venture permit.
- Work Plan: Following an orientation pitting program in January 2025, a combination of reverse circulation and diamond drilling will commence in February 2025, with results expected from April 2025.
Odienné West Permit
- Overview: Known mineralized trends and geology are modelled to extend into the Odienné West permit, with early phase greenfield work expected to unlock exploration potential in an underexplored area.
- Activities: 2025 will see early-stage target generation, with mapping and geochemistry surveys along with airborne programs including magnetic, radiometric, and gravity gradient surveys. All exploration is fully funded by Newmont.
Technological and Operational Enhancements
- Portable PPB Lab: On-site deployment to accelerate assay turnaround times and improve decision-making efficiency.
- Geophysics: Comprehensive airborne and ground geophysical surveys to refine targeting across all key zones.
Other Initiatives
- Educational Content: Rolling out materials to explain the geology of Odienné, our targeting methodology, and broader district context.
- Stakeholder Engagement: Maintaining first-mover advantage by building trust and showcasing Awale's vision for the region.
2024 HIGHLIGHTS
2024 was a pivotal year for Awalé marked by key leadership changes that aligned the Company with its strategic vision, efforts to strengthen the balance sheet and ensure financial stability, and significant progress at the Odienné project. These achievements have positioned Awalé as a leader in district-scale exploration, with a clear path toward resource delineation and new discoveries. Key highlights include:
BBM Discovery - 4th discovery at Odienné announced in January. BBM was a significant new greenfield discovery for the Company with excellent scope for rapid expansion.
Highest-Grade Gold Intercepts in Africa - During the year, Charger delivered some of highest-grade intercepts in West Africa over the past 12 months, including 45.7 g/t Au over 32m in hole OEDD-83, 20 g/t Au over 29m in hole OEDD-88, and 14.7 g/t Au over 59m in OEDD-100. Ongoing drill program aims to test new hinge fold thesis, targeting extensions to both grade and volume.
BBM Growing and Remains Open - 6,808m in 28 holes have confirmed the system is open at depth with the higher-grade core growing to 600m and remaining open. The BBM trend has now been expanded to over 15km, from 100%-owned Fremen target in the south to the newly identified Boba and Fett targets in the north.
New Gold Footprint Discovery at 100%-Owned Fremen Target - In October, the Company announced that it uncovered a new and open 3.5km long > 37 parts per billion gold in termitaria footprint with a peak value of 1.3 g/t Au. The program was completed within Awalé's 100%-owned Sienso permit next door to the BBM discovery, which lies 4km along strike to the northwest.
Financial Strength - The Company is well-funded with $10 million in cash, following an $11.5 million capital raise in April 2024, allocated to advance 100%-owned properties and partnership with Newmont, which is funding all exploration work on joint venture claims.
Strengthened Leadership Team - Additions of Anthony Moreau and Karl Akueson to the Board of Directors, along with the appointment of Stephen Stewart as Chairman, as part of a strategic leadership transition. The management team further bolstered with the additions of Andrew Smith as VP Exploration, Ardem Keshishian as VP Corporate Development, and John Scott as Principal Geologist. At the request of the TSXV, the Company is clarifying Ardem Keshishian's role as VP Corporate Development and not VP Corporate Development and Investor Relations.
New Exploration Permit - In Q4, the Company was granted an exploration permit for PR-904 ("Odienné West"), unlocking expanded opportunities within the emerging gold and copper district.
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is focused on the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited ("Newmont").
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.
The Odienné project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 (2017) Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by Intertek from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Australia where the sample is analyzed by 52 element ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company's Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company's Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geologists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com
The Company's public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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 release.
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