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The Canadian Securities Exchange ("CSE" or "the Exchange") today announced market statistics for October 2024.
October 2024 Operating Statistics
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Forte Minerals
Overview
When it comes to mining deposits, there’s no denying the potential output Peru has to offer. In 2023, Peru produced 2.6 million metric tons of copper, making it the world’s second-largest producer of copper. Peru was also one of the largest gold producers in 2023, ranking 7th in the world.
The mining-friendly country’s appeal has attracted the likes of several major mining companies, including Southern Copper (NYSE:SCCO), Freeport-McMoRan (NYSE:FCX), Hudbay Minerals (NYSE:HBM,TSX:HBM), Barrick Gold (TSX:ABX,NYSE:GOLD), Teck Resources (TSX:TECK.A and TECK.B, NYSE: TECK), Rio Tinto (NYSE:RIO), and many more. As a result, mineral exploration companies with projects in Peru may provide investors with an exciting opportunity for investments into a resource-rich country.
Forte Minerals (CSE:CUAU,FSE:2OA,OTCQB:FOMNF) controls assets acquired from its strategic project generative partner GlobeTrotters Resources Peru SAC and an Alta Copper (TSX:ATCU) option deal to form an attractive portfolio of high-quality copper and gold assets in Peru. These properties combine early-stage and drill-ready targets with a historically discovered and drilled porphyry system that is strategically positioned for copper and gold resource development.
Forte Minerals Portfolio
Forte Minerals has a strong land position of 12,000 hectares in Peru, including the Pucarini, Don Gregorio and Esperanza projects. The Don Gregorio project is a 900-hectare copper and gold porphyry project with gold and copper mineralization occurring on the subsurface. This project is under option by Forte Minerals from Alta Copper (previously Candente Copper), whereby Forte Minerals can acquire a 60-percent interest in Don Gregorio by cash payments of US$500,000 over three years, and 10,000-meter diamond drilling over three years upon receipt of drill permits.
The company’s 100-percent-owned Pucarini project is a gold asset with a high sulfidation epithermal gold target located in Puno, Peru. The Pucarini project consists of 1,000 hectares of primary target claims and 6,100 hectares of regional concessions. The project also has an NI 43-101 Technical Report from February 2021.
The company’s fully owned Esperanza project is a 4,000-hectare copper and molybdenum porphyry project located in the prolific and mining-friendly Paleocene belt of Southern Peru. The Paleocene belt hosts many of the largest existing porphyry copper mines and recent discoveries. The Esperanza project has not yet been tested by drilling but holds exciting exploration potential.
Forte Minerals also acquired the Alto Ruri high sulphidation epithermal gold prospect and the Cerro Quillo porphyry gold-copper-molybdenum prospect from its strategic partner Globetrotters Resource Group. The prospects are situated on a contiguous 4,700-hectare block of concessions that were initially acquired by Globetrotters from Compañía Minera Ares S.A.C. These concessions were transferred to Forte's Peruvian subsidiary, Cordillera Resources Perú S.A.C., in exchange for a one-time cash payment of US$25,000.
The team at Forte Minerals boasts deep-seated roots within Peru's mining and exploration community. With a combined experience surpassing 215 years in exploration and mining throughout the Americas, the company’s standing is anchored by its profound community relationships and consistent track record of exploration successes.
Among the company’s esteemed cohort is a former principal geologist and general manager for Teck Resources in Peru, Manuel Montoya, who now champions Forte Minerals’ projects, ensuring every stage aligns with the highest standards. This addition solidifies the company's commitment to blending international expertise with local understanding.
Understanding the complexities of exploration, Forte Minerals also incorporated a full-time in-house social team. This team is more than just a nod to corporate responsibility – it's a testament to the company’s foundational belief that community ties are as vital as geological prospects and exploration.
In pursuing holistic growth and sustainability, Forte Minerals recently collaborated with Social Suite, signaling the commencement of an insightful ESG (environmental, social and governance) reporting journey. This partnership underscores Forte's vision to set industry benchmarks, especially in community engagement, environmental stewardship and its broader societal obligations.
Forte Minerals isn't just exploring terrains; it’s also pioneering a future where its mission amplifies ESG initiatives. The company’s promise remains unshaken: to strengthen community bonds, champion environmental conservation, and uphold societal commitments with unparalleled vigor.
The company hopes to take advantage of near-surface and underexplored metal endowments that are rich in copper and gold in Peru. Forte Minerals plans to leverage unique targeting methods and an effective alteration identification process. The company also aims to advance its projects with the anticipation of drilling permits and additional exploration and thousands of meters of drilling on its properties.
Company Highlights
- Forte Minerals has a strong land position of 12,000 hectares in Peru, including the Pucarini, Don Gregorio and Esperanza projects.
- Pucarini is a high-sulfidation epithermal gold project in Puno, Peru with an NI 43-101 Technical Report from February 2021.
- Don Gregorio is a copper and gold porphyry project with a historically discovered and drilled porphyry system.
- The 100-percent-owned Esperanza project is a copper and molybdenum porphyry asset located in the prolific and mining-friendly Paleocene belt of Southern Peru.
- Forte Minerals has a strong history of engagement with local communities. The company’s team has a combined 215 years of experience in exploration and mining in the Americas and a combined 60 years of successfully managing public companies.
- The company is finalizing drilling permits and preparing for a drilling campaign.
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Canadian Securities Exchange Reports October 2024 Performance Figures
- Trading volume of CSE listed securities totaled 1.3 billion shares;
- Trading value of CSE listed securities was $360 million;
- CSE issuers completed 82 financings that raised an aggregate $95 million; and
- The CSE welcomed listings from five new companies, bringing total listed securities to 777 as at October 31, 2024.
"Trading volume on the Canadian Securities Exchange was higher in October compared to any other month in more than a year, with the number of trades also up significantly from recent months," said Richard Carleton, CEO of the CSE. "We are encouraged to see improving liquidity for securities of emerging companies, and are optimistic that they will draw increased investor interest in the current environment of declining interest rates. October also featured the largest mining financing for a CSE issuer in some time, as Asante Gold Corporation raised US$25 million in the first stage of a much larger US$100 million transaction."
What's On at the CSE
After a successful in-person debut in 2023, the CSE is pleased to be presenting its 2024 Summit on Responsible Investment ("SoRI") as an online series. It is designed to provide the investment community with insights and information on an issue of major relevance to today's financial markets. A series of SoRI videos are currently available, including interviews with the CEOs of First Tellurium Corp. (FTEL) and BioHarvest Sciences Inc. (BHSC). New content will continue to be introduced in the days ahead.
The November 2024 issue of Canadian Securities Exchange Magazine has been published, and in conjunction with SoRI, it is focused on the Cleantech sector. The issue highlights six innovative, CSE-listed Cleantech companies that are dedicated to both driving shareholder value and improving the wellbeing of people and the planet: Beyond Oil Ltd. (BOIL), Blusky Carbon Inc. (BSKY), Hybrid Power Solutions Inc. (HPSS), NU E Power Corp. (NUE), Replenish Nutrients Holding Corp. (ERTH), and SHARC International Systems Inc. (SHRC). In addition, the issue features special content marking the CSE's 20th anniversary, including a Q&A with Richard Carleton and a roundtable interview with other members of the executive team. The magazine is free to read online and can be viewed here.
Richard Carleton and Tracey Stern, Chief Legal Officer of the CSE, will attend the 63rd General Assembly and Annual Meeting of the World Federation of Exchanges in Kuala Lumpur, Malaysia on November 19-21. In addition to participating in the working sessions of the organization, Mr. Carleton will speak on a panel alongside colleagues from Ghana, Saudi Arabia and Mexico titled Beyond the Monopoly Myth: Rethinking Competition in Financial Markets.
The CSE team will be in London, England for two mining conferences in early December. First is the Northern Miner's International Metals Symposium on December 1-2. The list of presenters includes senior executives from leading junior and mid-tier mining companies, and several of the industry's most recognized thought leaders. The CSE is also a sponsor of this conference.
Right after that is Mines and Money @ Resourcing Tomorrow on December 3-5. It features more than 100 mining companies, 500 investors and 2,000 attendees arriving from more than 100 countries. The event will include the popular Mining Spotlights, in which executives make pitches to a panel of expert investors. The participating CSE-listed companies include Asante Gold Corporation (ASE), Athena Gold Corporation (ATHA), Exploits Discovery Corp. (NFLD), Forte Minerals Corp. (CUAU), Panther Minerals Inc. (PURR), Peloton Minerals Corporation (PMC), and Renforth Resources Inc. (RFR).
The biggest cannabis business event of the year is always MJBizCon, and the CSE is looking forward to returning to Las Vegas for this conference on December 3-6. More than 30,000 people are expected to attend the show, including cultivators, manufacturers, retailers, executives, investors and more. Attendees will have the opportunity to explore all of the pressing issues impacting the industry. To prepare for MJBizCon, check out the July 2024 issue of Canadian Securities Exchange Magazine, which is dedicated to the cannabis industry and examines challenges and opportunities facing the rapidly-evolving sector.
New Listings in October 2024
Syntheia Corp. (SYAI)
Super Copper Corp. (CUPR)
Formation Metals Inc. (FOMO)
Integral Metals Corp. (INTG)
Pluto Ventures Inc. (PLTO)
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Forte Minerals Completes Miscanthus Acquisition from Globetrotters Resource Group
Forte Minerals Corp. ("Forte"or the"Company") (CSE:CUAU)(OTCQB:FOMNF)(Frankfurt:2OA), a Canadian exploration company focused on developing copper and gold assets in Peru, is pleased to announce the completion of its acquisition of the Miscanthus Property (the "Property") a high-sulphidation epithermal gold-silver and porphyry copper-molybdenum-gold prospect in central Peru from Globetrotters Resource Group Inc. ("Globetrotters"), as initially announced on October 23, 2024
The Property consists of 4 Concessions: Totaling 3,200 hectares, which was transferred to Forte's Peruvian subsidiary, Cordillera Resources Perú S.A.C and includes an approved DIA drilling permit for up to 40 platforms over 172 hectares, significantly lowering permitting risk.
Under the Mineral Asset Purchase Agreement dated October 21, 2024, between Forte and Globetrotters, to acquire the Property, Forte made a one-time cash payment of US$27,000, issued 3,000,000 common shares at a deemed price of $0.23 per share, and granted a 1.0% net smelter return (NSR) royalty to Globetrotters.
With the acquisition now complete, Forte is well-positioned to advance exploration at Miscanthus.
For further details, please refer to Forte's October 23, 2024, press release.
As GlobeTrotters is the beneficial owner of more than 10% of Forte's outstanding shares, it is a "related party" to the Company within the meaning of Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). As such, the acquisition of the Property was a "related party transaction" within the meaning of MI 61-101. The Company relied on exemptions from the formal valuation and the minority shareholder approval requirements of MI 61-101 found in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the Property and consideration payable therefore does not constitute more than the 25% of the Company's market capitalization.
Prior to the completion of the acquisition, GlobeTrotters held 5,833,333 common shares representing 12.36% of the then outstanding shares and following the acquisition, GlobeTrotters now holds 8,833,333 shares and 833,333 warrants, representing 17.60% of the outstanding shares on an undiluted basis and, assuming full exercise of the warrants held approximately 18.94% of the issued and outstanding shares on a partially diluted basis. While GlobeTrotters has no plans or intentions with respect to the securities held by it, depending on market conditions, general economic and industry conditions, trading prices of the shares, the Company's business, financial condition and prospects and/or other relevant factors, GlobeTrotters may develop such plans or intentions in the future and, at such time, may from time to time acquire additional shares, dispose of some or all of the existing or additional shares or may continue to hold the shares of the Company.
A copy of the early warning report filed by GlobeTrotters will be available on the Company's SEDAR profile at www.sedar.com or may be obtained by contacting Richard Osmond at (604) 466-0425.
All securities issuable in the acquisition are subject to a four month and one day hold period ending on March 1, 2025.
ABOUT Forte Minerals CORP.
Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper ("Cu") and gold ("Au") assets in Perú. Our strategic partnership with GlobeTrotters Resources Perú S.A.C. ("GTR") grants us access to a comprehensive project pipeline, enabling us to target the most promising opportunities. This collaboration focuses on historically discovered, drill-ready targets, driving significant value in Cu and Au resource development.
On behalf of Forte Minerals CORP.
(signed) "Patrick Elliott"
Chief Executive Officer
For further information, please contact:
Glen Watson, Investor Relations
1-844-863-3622
gwatson@forteminerals.com
Forte Minerals Corp.
office: 604-983-8847
info@forteminerals.com
www.forteminerals.com
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest management's discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Forte Minerals Corp
View the original press release on accesswire.com
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Forte Minerals to Acquire the Miscanthus Epithermal Gold and Porphyry Copper Prospects in Central Perú with Environmental Drilling Permit
Forte Minerals Corp. ("Forte"or the"Company") (CSE:CUAU)(OTCQB:FOMNF)(Frankfurt:2OA), has finalized the acquisition of the Miscanthus high sulphidation epithermal gold-Ag ("Au-Ag") and porphyry copper-molybdenum-gold ("Cu-Mo-Au") prospects ("Miscanthus" or the "Property") from its strategic partner Globetrotters Resource Group Inc. ("GlobeTrotters"). Key details include
Property Details: Miscanthus consists of 4 concessions totaling 3,200 hectares.
Previous Ownership: Initially acquired by Globetrotters in 2022 from Sumitomo Metal Mining Perú S.A. ("Sumitomo").
Transfer: The concessions are to be transferred to Forte's Peruvian subsidiary, Cordillera Resources Perú S.A.C.
Acquisition Terms under the Mineral Asset Purchase Agreement dated October 21, 2024 between the Company and Globetrotters
One-time cash payment of US $27,000.00
Issuance of 3,000,000 common shares of Forte at deemed price of $0.23 per share.
1.0% net smelter return royalty ("NSR") interest on the concessions to Globetrotters.
Environmental Approval: Miscanthus has an approved DIA environmental drilling permit, allowing for up to 40 platforms of drilling over 172 hectares, significantly reducing permitting risk.
Property Highlights
Location: Approximately 390 km southeast of Lima at 4,100 meters elevation.
Access: Via a network of paved and gravel roads, 60 km inland from Nazca.
Proximity to Infrastructure: 120 km from Marcona port and near the Mantaro-Southern Perú power grid.
Exploration Potential: Miscanthus is considered highly prospective, with the potential for the discovery of a large, telescoped porphyry Cu-Mo-Au system, overprinted by high-sulphidation epithermal Au-Ag mineralization. (See Figure 1 for more details.)
Figure 1: Location map of the Miscanthus Property.
Previous Exploration Work: Sumitomo acquired the Property in 2018 and carried out detailed geological mapping, geochemical sampling, and geophysical surveys outlining an untested high-sulphidation epithermal Au-Ag target. Upon receiving environmental approval ("DIA") and successfully negotiating an agreement with the local community for the drill permit application, Sumitomo transferred ownership to the Property, along with the approved DIA, to GlobeTrotters in 2022. GlobeTrotters then conducted further detailed geological mapping, geochemical sampling and geophysical surveys on the Property confirming the high-sulphidation epithermal Au-Ag target and identifying a potential large, telescoped porphyry Cu-Mo-Au system at depth.
Geological Features
The Property is situated on the Western Cordillera and associated with Miocene-aged volcanic and volcanoclastic rocks forming part of the Tertiary Volcanic Arc which is known to host several large Miocene-aged epithermal Au deposits including Barrick's Pierina deposit and Newmont's Yanacocha and Minas Conga deposits as well as several large Miocene-aged porphyry Cu-Mo-(+Au) deposits including Chinalco's Toromocho, Southern Copper's Michiquillay and Rio Tinto's La Granja deposit.
High-Sulphidation Epithermal Au-Ag Target
The high-sulphidation epithermal Au-Ag target is characterized by several multidirectional, structurally controlled silica ledges and vuggy silica altered outcrops within an extensive 1,000 metre x 500 metre advanced argillic alteration zone (Figure 2). This advanced argillic alteration is characterized by intense quartz-alunite-kaolinite alteration, hosted within weakly deformed, locally brecciated Miocene-aged volcanic and volcanoclastic rocks of andesitic to dacitic composition.
Figure 2: Alteration map outlining the high-sulphidation epithermal Au target areas with anomalous surface rock Au geochemistry. Source: Globetrotters Resource Group 2023 and 2024, author: Manuel Montoya
This alteration aligns with anomalous surface rock geochemistry, with up to 183 ppb Au and 8.9 ppm Ag, and notable anomalies in Ba, Mo, Pb, As, Sb, and Hg. Furthermore, this target correlates with a sizeable, coincident low magnetic susceptibility and high chargeability - high resistivity geophysical anomaly.
Sumitomo obtained DIA environmental approval for 172 hectares surrounding this target, allowing for up to 40 platforms of drilling.
Copper East Target
Recent exploration on the eastern side of the Property identified a 3-kilometre x 1-kilometre Cu-Mo surface rock geochemistry anomaly, named the Copper East target (Figure 3). This Cu-Mo target is also hosted within Miocene-aged volcanic and volcaniclastic rocks which seem more deeply eroded into the roots of the high-sulphidation system.
Figure 3: Alteration map outlining the Copper East and Copper SW target areas with anomalous surface rock Cu geochemistry. Source: Globetrotters Resources Group 2023 and 2024, Author: Manuel Montoya
Here, alunite-pyrophyllite-diaspore forms wormy and patchy alteration textures (Figure 4) within more pervasive sericite-clay alteration, accompanied locally by porphyry-related D-type veining (Figure 5). These features indicate the transition to the upper part of a telescoped porphyry Cu-Mo-(Au) system.
Figure 4: Outcrop from the Copper East target area with intense alunite-pyrophyllite alteration as wormy and patchy alteration textures anomalous in surface rock Cu geochemistry with grade of up to 133 ppm Cu.
Figure 5: Outcrop from the Copper East target with intense porphyry related D-type veining anomalous in surface rock Cu geochemistry with grades of up to 108 ppm Cu.
Copper SW Target
Detailed mapping and surface rock geochemistry have outlined a second large 3-kilometre x 1-kilometre Cu-Mo surface rock geochemistry anomaly, known as the Copper SW target. This Cu-Mo target is adjacent to and overlaps with the high-sulphidation epithermal Au-Ag target and correlates with a large IP high chargeability geophysical anomaly. Further exploration work is planned to evaluate these Cu-Mo targets, potentially outlining a cluster of large, telescoped porphyry Cu-Mo-(Au) systems overprinted by high-sulphidation epithermal Au-Ag mineralization on the Property. A qualified person for the Company has not done sufficient work on the Property to verify the work completed by others and the historical results presented in this release should not be relied upon.
Permit and Land Rights
Sumitomo conducted an environmental baseline study and an archaeological study as part of the drill permitting process. In March 2022, they received DIA environmental approval, valid for five (5) years, to drill 40 platforms over 172 hectares to test the high-sulphidation epithermal Au-Ag target. This approval was transferred to GlobeTrotters upon obtaining title to these concessions and will be transferred to Cordillera Resources SAC as part of the acquisition. The property land rights are controlled by a local indigenous community and several private landowners, who have provided access for the early exploration work completed to date.
CEO Remarks
Patrick Elliott, President, and CEO, remarked, "This acquisition is another strategic win for Forte. The Miscanthus copper and gold prospects are coherent, well defined and the historical work and capital expended since 2018 by Sumitomo and Globetrotters have significantly de-risked the exploration potential for Forte.
This is a true testament to the strategic partnership between Globetrotters and Forte to generate and deliver high quality, drill ready targets in a highly prospective region of Perú. Forte would like to acknowledge the persistence and determination of our partner, Globetrotters, in securing these prospects. It significantly mitigates the risks associated with the early stages of exploration, discovery and drill permitting in a premier mining jurisdiction.
Exploration projects of this calibre that have drill permits in hand are extremely hard to find let alone acquire. Recently, the DIA drill permitting process can take up to 3 years, so to have this in place is a real bonus which adds tremendous value and optionality to be able to mobilize and drill the targets at any time."
Related Party Transaction
Additionally, as GlobeTrotters is the beneficial owner of more than 10% of Forte's outstanding shares, it is a "related party" to the Company within the meaning of Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). As such, the acquisition of the Property constitutes a "related party transaction" within the meaning of MI 61-101.
The Company intends to rely on exemptions from the formal valuation and the minority shareholder approval requirements of MI 61-101 found in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the Property and consideration payable therefore does not constitute more than the 25% of the Company's market capitalization. The Company expects to complete the acquisition within 5 business days. All securities issuable in the acquisition will be subject to a four month and one day hold period pursuant to applicable securities laws and the rules and policies of the CSE.
Qualified Person and NI 43-101 Disclosure
Richard Osmond, P.Geo., is the Company's Qualified Person ("Qualified Person") as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
ABOUT Forte Minerals CORP.
Forte Minerals Corp., a junior exploration company that has blended assets in partnership with GlobeTrotters Resources Perú S.A.C., has built a robust portfolio of high-quality Cu and Au assets in Perú. The Company aims to generate significant value growth by strategically situating early-stage and drill-ready targets alongside a historically discovered and drilled porphyry system for Cu and Au resource development. Notwithstanding its resource focus, Forte is deeply committed to community engagement, environmental stewardship, and fulfilling its societal responsibilities.
On behalf of Forte Minerals CORP.
(signed) "Patrick Elliott"
Chief Executive Officer
For further information, please contact:
Glen Watson, Investor Relations
1-844-863-3622
gwatson@forteminerals.com
Forte Minerals Corp.
office: 604-983-8847
info@forteminerals.com
www.forteminerals.com
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest management's discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE:Forte Minerals Corp
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
Forte Minerals Engages Stockworks Agency as Investor Relations Consultant to Enhance Communications
Forte Minerals Corp. ("Forte" or the "Company") (CSE:CUAU)(OTCQB:FOMNF)(Frankfurt:2OA) is pleased to announce its strategic engagement with Stockworks Agency Inc. ("Stockworks") as an investor relations consultant to provide communications and investor relations services for the Company, effective September 1, 2024, in accordance with Canadian Securities Exchange ("CSE") policies
Stockworks, renowned for its proven track record in investor engagement, will work closely with Forte Minerals Corp. to develop and implement robust communication strategies. These efforts will increase awareness and educate investors on Forte's ongoing projects and growth potential. As part of this strategic collaboration, Glen Watson from Stockworks will work closely with Anna Dalaire, Forte's VP of Corporate Development, ensuring alignment and maximizing the impact of the company's investor relations and communication initiatives.
Under the consulting agreement, Stockworks will receive a monthly consulting fee of CAD $5,000, plus GST, with an initial term of 12 months ending August 30, 2025. Additionally, Stockworks will be granted 100,000 stock options within the next 30 days, exercisable at the market price at the time of the grant, with vesting over quarterly periods following a 90-day hold. The agreement also includes a 5% finder's fee on financing with new investors, where applicable.
Patrick Elliott, President & CEO of Forte Minerals Corp., commented, "Engaging Stockworks is a important step in strengthening our investor communications and expanding our outreach. With Glen Watson collaborating closely with our team, we are confident in our ability to communicate the value and potential of our copper and gold projects in Peru more effectively to the investment community. This partnership aligns perfectly with our vision to enhance shareholder value as we advance our projects."
About Stockworks Agency Inc.
Stockworks Agency Inc. is a British Columbia-based firm with a proven track record in investor relations and corporate communications for public companies. Stockworks is renowned for enhancing corporate visibility through investor engagement, media relations, and social media strategy.
About Forte
Forte Minerals Corp., a junior exploration company that has blended assets in partnership with GlobeTrotters Resources Perú S.A.C., has built a robust portfolio of high-quality Cu and Au assets in Perú. The Company aims to generate significant value growth by strategically positioning permitted and drill-ready projects alongside historically discovered copper and gold projects. Notwithstanding its resource discovery and development focus, Forte is deeply committed to community engagement, environmental stewardship, and fulfilling its societal responsibilities.
On behalf of Forte Minerals CORP.
(signed) "Patrick Elliott"
Chief Executive Officer
For further information, please contact:
Forte Minerals Corp.
office: (604) 983-8847
info@forteminerals.com
www.forteminerals.com
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Forte Minerals Corp
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Lundin Mining Reports on Legal Notice Pertaining to the 2022 Sinkhole at the Alcaparrosa Mine
TSX: LUN) (Nasdaq Stockholm: LUMI) Minera Ojos del Salado, a subsidiary of Lundin Mining Corporation ("Lundin Mining" or the "Company") has received a notice from the Superintendencia del Medio Ambiente ("SMA") following its investigative proceedings involving the sinkhole that occurred at the Alcaparrosa mine in 2022. The notice levies a fine of $3.3 million and orders the continued closure of the Alcaparrosa mine, based on four violations investigated.
Mining operations at Alcaparrosa have been suspended since the incident occurred in 2022. At the time, Mineral Reserve estimates for the Alcaparrosa mine were removed from the Company's reserve statement and have not been included in any future production estimates. The Company's Candelaria operation is unaffected and generated record production in the second half of 2024. The Candelaria mine is forecast to produce 140,000 tonnes to 150,000 tonnes of copper in 2025.
The Company has collaborated with investigative proceedings initiated by the national environmental regulator (SMA), including providing monitoring technology, studies and experts to guide the process. The Company will review the notification and determine the next steps relating to the charges that it allegedly breached its environmental permit at its Minera Ojos del Salado operation which owns the Alcaparrosa mine.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina , Brazil , Chile , and the United States of America , primarily producing copper, gold and nickel. In December 2024 the Company announced the sale of their European assets to Boliden, the transaction is expected to close in mid-2025 subject to customary conditions and regulatory approvals.
The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on January 30, 2025 at 19:00 Eastern Time .
Cautionary Statement on Forward-Looking Information
Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the operation of Vicuña with BHP; the realization of synergies and economies of scale in the Vicuña district; estimated capital expenditures; the timing and expectations for studies and updated estimates; the completion of the sale of the Company's European assets and the timing thereof; the conditions to close the sale of the Company's European assets; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results and timing of any Preliminary Economic Assessment, Pre-Feasibility Study, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; expansion projects and the realization of additional value; the Company's integration of acquisitions and expansions and any anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, zinc, nickel, gold and other metals; anticipated costs; that the conditions to close the sale of the Company's European assets will be satisfied; the ability to achieve goals and identify and realize opportunities; the prompt and effective integration of acquisitions, including the acquisition of Filo, the establishment of the joint arrangement with BHP and the realization of synergies and economies of scale in connection therewith; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: the failure to obtain required approvals for the sale of the Company's European assets; global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; project financing risks, liquidity risks and limited financial resources; volatility and fluctuations in metal and commodity demand and prices; delays or the inability to obtain, retain or comply with permits; significant reliance on assets in Chile ; reputation risks related to negative publicity with respect to the Company or the mining industry in general; health and safety risks; risks relating to the development of the Filo del Sol project and the Josemaria project; inability to attract and retain highly skilled employees; risks associated with climate change; compliance with environmental, health and safety laws and regulations; unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; risks relating to indebtedness; the inability to effectively compete in the industry; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration, including the joint acquisition of Filo and the joint arrangement with BHP; changing taxation regimes; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; activist shareholders and proxy solicitation matters; risks relating to dilution; regulatory investigations, enforcement, sanctions and/or related or other litigation; risks relating to payment of dividends; counterparty and customer concentration risks; the estimation of asset carrying values; risks associated with the use of derivatives; risks relating to joint ventures, joint arrangements and operations; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of a significant shareholder; exchange rate fluctuations; challenges or defects in title; internal controls; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; the threat associated with outbreaks of viruses and infectious diseases; risks relating to minor elements contained in concentrate products; and other risks and uncertainties, including but not limited to those described in the "Risk and Uncertainties" section of the Company's MD&A for the year three and nine months ended September 30, 2024 and the "Risk and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023 , which are available on SEDAR+ at www.sedarplus.com under the Company's profile.
All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward ‐ looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
SOURCE Lundin Mining Corporation
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Lundin Mining Reports on Legal Notice Pertaining to the 2022 Sinkhole at the Alcaparrosa Mine
TSX: LUN) (Nasdaq Stockholm: LUMI) Minera Ojos del Salado, a subsidiary of Lundin Mining Corporation ("Lundin Mining" or the "Company") has received a notice from the Superintendencia del Medio Ambiente ("SMA") following its investigative proceedings involving the sinkhole that occurred at the Alcaparrosa mine in 2022. The notice levies a fine of $3.3 million and orders the continued closure of the Alcaparrosa mine, based on four violations investigated.
Mining operations at Alcaparrosa have been suspended since the incident occurred in 2022. At the time, Mineral Reserve estimates for the Alcaparrosa mine were removed from the Company's reserve statement and have not been included in any future production estimates. The Company's Candelaria operation is unaffected and generated record production in the second half of 2024. The Candelaria mine is forecast to produce 140,000 tonnes to 150,000 tonnes of copper in 2025.
The Company has collaborated with investigative proceedings initiated by the national environmental regulator (SMA), including providing monitoring technology, studies and experts to guide the process. The Company will review the notification and determine the next steps relating to the charges that it allegedly breached its environmental permit at its Minera Ojos del Salado operation which owns the Alcaparrosa mine.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina , Brazil , Chile , and the United States of America , primarily producing copper, gold and nickel. In December 2024 the Company announced the sale of their European assets to Boliden, the transaction is expected to close in mid-2025 subject to customary conditions and regulatory approvals.
The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on January 30, 2025 at 19:00 Eastern Time .
Cautionary Statement on Forward-Looking Information
Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the operation of Vicuña with BHP; the realization of synergies and economies of scale in the Vicuña district; estimated capital expenditures; the timing and expectations for studies and updated estimates; the completion of the sale of the Company's European assets and the timing thereof; the conditions to close the sale of the Company's European assets; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results and timing of any Preliminary Economic Assessment, Pre-Feasibility Study, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; expansion projects and the realization of additional value; the Company's integration of acquisitions and expansions and any anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, zinc, nickel, gold and other metals; anticipated costs; that the conditions to close the sale of the Company's European assets will be satisfied; the ability to achieve goals and identify and realize opportunities; the prompt and effective integration of acquisitions, including the acquisition of Filo, the establishment of the joint arrangement with BHP and the realization of synergies and economies of scale in connection therewith; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: the failure to obtain required approvals for the sale of the Company's European assets; global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; project financing risks, liquidity risks and limited financial resources; volatility and fluctuations in metal and commodity demand and prices; delays or the inability to obtain, retain or comply with permits; significant reliance on assets in Chile ; reputation risks related to negative publicity with respect to the Company or the mining industry in general; health and safety risks; risks relating to the development of the Filo del Sol project and the Josemaria project; inability to attract and retain highly skilled employees; risks associated with climate change; compliance with environmental, health and safety laws and regulations; unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; risks relating to indebtedness; the inability to effectively compete in the industry; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration, including the joint acquisition of Filo and the joint arrangement with BHP; changing taxation regimes; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; activist shareholders and proxy solicitation matters; risks relating to dilution; regulatory investigations, enforcement, sanctions and/or related or other litigation; risks relating to payment of dividends; counterparty and customer concentration risks; the estimation of asset carrying values; risks associated with the use of derivatives; risks relating to joint ventures, joint arrangements and operations; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of a significant shareholder; exchange rate fluctuations; challenges or defects in title; internal controls; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; the threat associated with outbreaks of viruses and infectious diseases; risks relating to minor elements contained in concentrate products; and other risks and uncertainties, including but not limited to those described in the "Risk and Uncertainties" section of the Company's MD&A for the year three and nine months ended September 30, 2024 and the "Risk and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023 , which are available on SEDAR+ at www.sedarplus.com under the Company's profile.
All of the forward-looking information in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward ‐ looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
SOURCE Lundin Mining Corporation
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Drilling Confirms Southern Porphyry Discovery and Extends Higher-Grade Zones at Briggs Copper Project, QLD
HIGHLIGHTS
- Assay results have been received from the final holes in the 2024 drilling program at the large-scale Briggs copper-molybdenum project in Queensland1 (Inferred resource 415Mt at 0.25% Cu and 31ppm Mo). These cover three holes assessing higher-grade mineralisation along the southwest margin of the Central porphyry and two testing the Southern porphyry target.
- The results confirm the Southern porphyry target as a new discovery approximately 300m to the southeast of the current Briggs resource, with copper and molybdenum mineralisation evident from near surface, e.g.
- 270.5m at 0.22% Cu and 16ppm Mo from 17.7m in 24BRD0035, including
- 83.8m at 0.28% Cu and 37ppm Mo from 27.2m.
- 97m at 0.20% Cu and 66ppm Mo from 36m in 24BRD0036.
- 270.5m at 0.22% Cu and 16ppm Mo from 17.7m in 24BRD0035, including
- Results from infill drilling at the Central porphyry resource have also extended the known zone of shallow, higher-grade mineralisation, e.g.
- 203.1m at 0.36% Cu and 52ppm Mo from 98.0m in 24BRD0033, including
- 26m at 0.50% Cu and 32ppm Mo from 102m, and
- 85m at 0.43% Cu and 35ppm Mo from 148m.
- 162.4m at 0.26% Cu and 44ppm Mo from 88.7m in 24BRD0034.
- 203.1m at 0.36% Cu and 52ppm Mo from 98.0m in 24BRD0033, including
- All the 2024 drilling results are feeding into an updated Mineral Resource Estimate, being completed in the March quarter, which will be used in mining studies in the current Briggs Scoping Study. Results from the Scoping Study are expected in mid-2025.
- The metallurgical test-work component of the Scoping Study is well advanced, including comminution studies, plus assessment of copper and molybdenum recovery via flotation into sulphide concentrates. Results are expected in the March quarter. Previous test work indicated excellent metallurgical recoveries from all styles of copper mineralisation.2
- Funding for Briggs continues to be provided by Alma Metals Ltd (ASX: ALM) (Alma) under an Earn-In Agreement (Earn-In). Alma is in Stage-3 of the Earn-In whereby it can reach a 70% interest by spending an additional $10 million.
Managing Director, Grant Craighead, said:“The 2024 Briggs drilling program has been extremely successful. Importantly, we’ve outlined a higher-grade zone of mineralisation that enhances our early mining options, as well as confirming that the Southern porphyry hosts significant mineralisation providing potential to continue expanding the overall Briggs resource. We are also very encouraged by progress in our Scoping Study activities and look forward to outlining our project development concepts and indicative financial parameters in the not-too-distant future.”
The Project comprises six tenements: Briggs (EPM 19198), Mannersley (EPM 18504), Fig Tree Hill (EPM 27317), Don River (EPM 28588), Ulam Range (EPM 27894) and Rocky Point (EPM 27956). Alma is funding the Project and can reach a 70% interest by funding an additional A$10 million3.
Briggs is in a tier one jurisdiction with exceptional infrastructure. It is 60km west of the deep-water port of Gladstone and 15km north of a significant road, rail and power corridor. It also benefits from a skilled local workforce and straightforward land ownership.
Figure 1 Briggs Location
Briggs currently hosts an Inferred Mineral Resource Estimate (MRE) of 415Mt at 0.25% Cu and 31ppm Mo at the Central and Northern porphyry deposits (Figure 2), plus an encompassing Exploration Target of an additional 480Mt to 880Mt at 0.20% to 0.30% Cu and 25ppm to 40ppm Mo4 that has been outlined by surface mapping and geochemical sampling, plus limited shallow drilling. The potential tonnage and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a mineral resource. It is uncertain if further exploration will result in an increase in the MRE.
The 2024 core drilling program at Briggs commenced in June and the final hole was completed in early December. During the program, eleven holes (2,955.5m) were drilled, with assay results now received for the final five holes: three (24BRD0032 to 24BRD0034) at the Central porphyry and two (24BRD0035 and 24BRD0036) at the Southern porphyry (refer Figure 2 and Appendix 1).
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This article includes content from Canterbury Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Kingsrose-BHP Alliances Announce High Grade Rockchips and Provide Progress Update
HIGHLIGHTS
- In May 2024 Kingsrose commenced one of the largest scale generative exploration programs in Europe, under Alliances funded by BHP (Figures 1 and 2, see ASX announcement dated 22 May 2024).
- With the support of BHP’s generative exploration expertise, Kingsrose is applying mineral systems analysis of the mineral belts to identify the most prospective areas for discovery of polymetallic copper- nickel-PGE massive sulphide.
- US$2.7 million of the combined US$5.0 million committed expenditure for Year 1 of the ‘Project Generation Phase’ of the Alliances has been spent on exploration activities to 31 December 2024.
Finnmark Alliance
- A 5,067 line km airborne gravity gradiometry survey was completed in 2024 (Figure 1) along with 554 soil samples and 208 rockchip samples.
- High-grade copper in polymetallic copper-gold-PGE sulphide veins was discovered by Kingsrose in the Porsanger and Virdnechokka areas (Figure 1). These veins may be spatially related to, and used as vectors towards, deeper magmatic sulphide accumulations. Highlight results include:
- 29.7 % Cu, 1.1 g/t Au, 53 g/t Ag, 0.54 g/t Pd, 0.02 g/t Pt, Porsanger (Sample 14398, Plate 1)
- 4.4 % Cu, 1.8 g/t Au, 0.50 g/t Pd, 0.06 g/t Pt, Virdnechokka (Sample 14508, Plate 2)
- Regional-scale helicopter-borne EM surveys will commence in late February to explore for conductive bodies spatially associated with intrusions which may represent massive sulphide mineralisation.
- These combined datasets will be used to generate follow up targets for field work in summer 2025.
Central Finland Alliance
- 4,980 line km of drone and ground magnetic surveys were completed in the Haapajarvi reservation, along with 795 soil samples and 87 rockchip samples (Haapajarvi and Suonenjoki) (Figure 2).
- Newly discovered zones of outcropping mineralisation were identified at the Rehula target (Figure 2), including:
- 0.46% Cu, 110 ppm Co, 0.03 g/t Pd, Rehula (Sample 13616).
Fabian Baker, Managing Director, commented"We are delighted with both the progress of our exploration programs and continued support from BHP for the Alliances. Systematic exploration using advanced geophysical and geochemical techniques is already returning highly encouraging results which is a testament to the prospective nature of the mineral belts we are exploring for critical minerals copper, nickel and PGEs. With an equally strong and dedicated approach to social and environmental values, we believe the long-term prospects for discovery in these underexplored regions on Europe’s doorstep are high."
Plate 1: Chalcocite-bornite-quartz vein hosted in amphibolite. 29.7% Cu, 0.01% Ni, 1.1 g/t Au, 53 g/t Ag, 0.54 g/t Pd, 0.02 g/t Pt. Porsanger area, sample 14398.
Plate 2: Chalcopyrite-quartz vein hosted in paragneiss. 4.4% Cu, 0.01% Ni, 1.8 g/t Au, 0.50 g/t Pd,0.06 g/t Pt. Virdnechokka area, sample 14508.
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This article includes content from Kingsrose Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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