
New Expansion Hole Intersects 279 Metres Averaging 0.49 % Cu
Nine Drill Rigs Now Active on Site
Manuka Resources’ unique value proposition is focused on its three fully licenced projects, which include two precious metals assets in one of Australia’s most prolific regions for base and precious metals, and a company-making iron sands (vanadium and titanium co-products) project in New Zealand’s exclusive economic zone (EEZ) off the Taranaki bight. Manuka Resources is well-placed to deliver significant shareholder value, driven by a phased strategy that includes a clear pathway to near-term precious metals production.
Manuka Resources (ASX:MKR) is focused on bringing its precious metals assets in the Cobar Basin into production, as well as progressing its New Zealand domiciled Taranaki VTM iron sands project.
The company previously revealed a phased strategy focused on delivering maximum value to its shareholders. The first phase focused on bringing back the Mt Boppy gold mine into production and it released an optimised production plan for the mine restart. At the time, the company believed silver production would follow gold but noted it was flexible in this regard. In any event and simultaneous to this, will be the ongoing development of the Taranaki vanadium titano-magnetite (VTM) project.
The Cobar Basin located in the central-west of New South Wales, is one of the richest mining provinces in Australia, home to some of Australia’s largest mining companies and explorers.
The Mt Boppy gold mine was historically one of the richest in NSW, Australia and produced ~500,000 oz gold at an average grade of 15 grams per ton (g/t) gold. Accordingly, the company is very excited about its exploration potential.
Drone image looking South showing the main components of the Rock Dump and tailing resources in relation to the Mt. Boppy open pit.
The initial five-year mine plan is largely focused on the screening and processing of gold-bearing waste material above ground on the Mt Boppy mine site. The company had been processing these wastes from June 2023 to December 2023 at its Wonawinta plant and now will look to optimize the process.
The Wonawinta silver project will be the largest primary silver producer in Australia and expected to be back in silver production within 12 months. Manuka has released a maiden ore reserve (under its ownership) of 4.8Mt1 at 53.8g/t silver containing 8.4Moz of silver comprising proven ore reserves of 0.8Mt at 50.8g/t silver; and probable ore reserves of 4.1Mt at 54.3g/t silver. Ore Reserve is based solely on shallow (<40m deep) oxide material.
The Wonawinta 100tph Ball Mill
The gold and silver market appears to be in an upward trend, with prices for both precious metals hitting their all-time highs recently, in Australian dollar terms for silver, which bodes very positively for MKR.
The Mt Boppy gold project comprises three mining leases, four gold leases and one exploration license, spanning an area of more than 210 sq km in the prolific Cobar Basin in New South Wales, Australia. The project was acquired by Manuka in 2019 and has a current mineral resource of 4.3 Mt at 1.19 g/t gold. This includes a combination of oxidized and transitional/fresh mineralization in the ground, as well as mineralized rock dumps and tailings.
Historically, Manuka Resources has processed its stockpiles and gold mineralized waste products through its Wonawinta processing plant. However, inefficiencies associated with trucking and processing ore at the distant Wonawinta plant has led the company to revise its strategy. It is now looking to construct a processing plant at Mt Boppy so that ore from the mine can be processed on-site. Mt Boppy has excellent infrastructure including a 48-person mine camp and is fully permitted for the proposed processing plant and on-site production.
The updated mineral resource comprises 4.28 Mt at 1.19 g/t gold for 163 koz of contained gold, of which 82 percent is in the measured and indicated categories.
An on-site plant will offer significant cost savings and improve the project economics.
Manuka Resources anticipates Mt Boppy to deliver total EBITDA of >AU$90 million and cash flow of >AU$80 million over a five-year mine life.
The Wonawinta project is fully permitted with all the necessary infrastructure, including an 850,000 to 1 million tpa processing plant. The plant has been used for processing ore from Mt Boppy. The Wonawinta silver mine is currently under care and maintenance. The company is considering the possibility of resuming operations at Wonawinta, leveraging the improved silver price environment. Manuka has released a maiden ore reserve (under its ownership):
The maiden silver ore reserve and the preparation of an implementation plan for Wonawinta support the potential restart of silver mining and processing operations in the near
future. The company is reviewing its silver restart plans in light of the current price increases and expects to announce a decision before the end of May 2025.
The Taranaki VTM project is located within New Zealand's exclusive economic zone, approximately 22 to 36 kilometres offshore, outside the 12 nautical mile boundary from the coastline. The project boasts a JORC resource of 3.2 billion tons at 10.17 percent iron oxide, 1.03 percent titanium dioxide and 0.05 percent vanadium oxide. It holds a mining license allowing initial extraction of 50 million tons annually, resulting in 5 million tons of VTM concentrate per year for 20 years (concentrate grade of 56 to 57 percent iron, 8.5 percent titanium dioxide and 0.5 percent vanadium pentoxide). At this extraction rate, the JORC resource provides approximately 60 years of potential mining inventory.
The project was included in the New Zealand government's Schedule 2 of the Fast Track Approvals Act 2024. The next step for Manuka was to complete pre-feasibility study (“PFS”) on the project. This was released to the market on 26 March 2025 and presents an extremely robust economic outlook for the project as can be seen below.
Dennis Karp is a former commodities trader with nearly four decades of corporate experience. He started his career in 1983 and worked in HSBC until 1997 before moving to Tennant, one of Australia’s largest physical commodities trading companies with operations in Asia and Europe. He was a principal shareholder of Tennant Metals until 2010 and a managing director until December 2014. He founded ResCap in December 2014. Since then, he has participated in diverse resource projects and investment opportunities across base metals and bulk commodities. He holds a Bachelor of Commerce from the University of Cape Town.
Alan Eggers has over 40 years of experience in the mining sector. He is a geologist and was the founder of Summit Resources, which became an ASX top 200 company and was acquired by Paladin Energy in 2007 for AU$1.2 billion. Throughout his career, he has held director positions at numerous companies. He holds a Bachelor of Science, Honours, and Master of Science degrees from Victoria University of Wellington. He is recognized as a fellow of the Society of Economic Geologists and holds memberships in AusIMM and the Australian Institute of Geoscientists.
John Seton is a lawyer with extensive experience in the mineral resources sector. He has served as director in several ASX and NZX listed companies. He holds a Bachelor of Laws from Victoria University, Wellington, and a Master of Law (Honours) from the University of Auckland and is a chartered fellow of the New Zealand Institute of Directors.
Haydn Lynch has over 25 years of experience in M&A, capital markets and private equity. He has been involved in executing several domestic and cross-border transactions in various sectors including metals and mining, and industrials. He has held leadership roles in global investment banks, including Bankers Trust Australia, Investec Bank, RBC Capital Markets and Southern Cross Equities. He has undergraduate degrees in mechanical engineering and economics from the University of Queensland and a Master in Commerce from the University of New South Wales.
Dieter Engelhardt has over 30 years of experience in the mining industry including roles as senior metallurgist at Telfer Gold Mine and Northparkes Mines, resident manager at McKinnons Gold Mine, and manager of ore processing at CSA Mine. Engelhardt was employed by Newcrest Mining (now Newmont) in various roles, including as manager of ore processing and principal metallurgist.
Phil Bentley has over 40 years of experience in the mining industry across New Zealand, South Africa, and Australia, holding senior geological roles as well as senior management and director positions. He has worked as a chief geologist at Randgold Resources and Randgold & Exploration, Global Head of Exploration at Trafigura Mining Services, and Principal Geologist Africa at CSA Global South Africa. He is a Qualified person under NI 43-101 (Canada) and JORC (Australia) and is a Fellow of the South African Geological Society. He holds a Bachelor of Science (Honours) in Geology at Victoria University of Wellington. He also has a Masters of Science in Economic Geology at Victoria University of Wellington and a Master’s of Science in Mineral Exploration from Rhodes University, Grahamstown South Africa.
Near-term production from both its silver and gold projects located in the Cobar Basin, Central West, New South Wales
New Expansion Hole Intersects 279 Metres Averaging 0.49 % Cu
Nine Drill Rigs Now Active on Site
Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.
Osisko Metals Chief Executive Officer Robert Wares commented: "Today's new results continue to confirm the large-scale potential of mineralization at Gaspé Copper. Expansion hole 30-1090 in particular has intersected a significant mineralized width, underscoring the excellent prospects for increasing the size of the known deposit towards the south. The program is advancing well, with a ninth drill rig added recently to accelerate the definition and expansion program."
Significant new analytical results are presented below and include 25 mineralized intercepts from eight drill holes (Table 1). The infill intercepts are all located inside the defined 2024 Mineral Resource Estimate model ("MRE", see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. The expansion intercepts are all located outside the 2024 MRE model and may lead to additional resources that will be classified appropriately within the next MRE update. Maps showing hole locations are available at www.osiskometals.com .
Highlights:
Table 1: Infill and Expansion Drilling
DDH No. | From (m) | To (m) | Width (m) | Cu % | Ag g/t | Mo % | CuEq* | Type |
30-1077 | 129.0 | 201.0 | 72.0 | 0.22 | 2.71 | 0.24 | Infill | |
And | 291.0 | 313.5 | 22.5 | 0.23 | 2.62 | 0.009 | 0.28 | Infill |
And | 384.0 | 399.0 | 15.0 | 0.52 | 3.73 | 0.55 | Infill | |
And | 428.5 | 450.7 | 22.2 | 0.30 | 2.33 | 0.006 | 0.34 | Infill |
And | 481.5 | 553.5 | 72.0 | 0.19 | 1.41 | 0.013 | 0.25 | Expansion |
And | 603.8 | 777.0 | 173.2 | 0.27 | 1.49 | 0.035 | 0.42 | Expansion |
30-1078 | 6.0 | 262.5 | 256.5 | 0.25 | 1.79 | 0.008 | 0.29 | Infill |
And | 307.5 | 688.5 | 381.0 | 0.22 | 1.69 | 0.022 | 0.32 | Expansion |
30-1079 | 22.5 | 342.0 | 319.5 | 0.28 | 2.14 | 0.008 | 0.32 | Infill |
And | 456.0 | 636.0 | 180.0 | 0.37 | 2.54 | 0.007 | 0.41 | Expansion |
(Including) | 480.7 | 481.8 | 1.1 | 8.66 | 35.2 | 8.84 | Expansion | |
30-1080 | 15.0 | 535.5 | 520.5 | 0.23 | 1.02 | 0.013 | 0.29 | Infill |
And | 774.0 | 969.0 | 195.0 | 0.26 | 1.28 | 0.030 | 0.39 | Expansion |
30-1081 | 42.0 | 71.0 | 29.0 | 0.16 | 1.79 | 0.18 | Infill | |
And | 94.0 | 395.8 | 301.8 | 0.41 | 3.36 | 0.006 | 0.45 | Infill |
(Including) | 322.3 | 330.0 | 7.7 | 1.99 | 14.58 | 2.08 | Infill | |
And | 445.5 | 490.0 | 44.5 | 0.23 | 1.32 | 0.28 | Expansion | |
30-1084 | 5.6 | 477.0 | 471.4 | 0.25 | 1.95 | 0.009 | 0.30 | Infill |
And | 522.6 | 578.0 | 55.4 | 0.33 | 2.64 | 0.041 | 0.51 | Expansion |
And | 616.8 | 706.5 | 89.7 | 0.29 | 1.93 | 0.012 | 0.35 | Expansion |
30-1086 | 14.1 | 166.5 | 152.4 | 0.18 | 0.73 | 0.19 | Infill | |
And | 219.0 | 250.5 | 31.5 | 0.22 | 1.13 | 0.23 | Infill | |
And | 433.1 | 466.5 | 33.4 | 0.25 | 1.12 | 0.26 | Infill | |
And | 888.5 | 949.5 | 61.0 | 0.23 | 0.98 | 0.009 | 0.27 | Expansion |
30-1090 | 15.0 | 294.0 | 279.0 | 0.49 | 3.35 | 0.51 | Expansion | |
(Including) | 66.0 | 72.0 | 6.0 | 3.34 | 14.42 | 0.019 | 3.49 | Expansion |
(Including) | 164.0 | 172.7 | 8.7 | 2.24 | 9.78 | 2.29 | Expansion | |
And | 331.5 | 357.0 | 25.5 | 0.24 | 1.96 | 0.26 | Expansion | |
And | 417.0 | 525.0 | 108.0 | 0.84 | 7.79 | 0.89 | Expansion | |
(Including) | 433.4 | 445.3 | 11.9 | 3.00 | 30.46 | 3.20 | Expansion |
Notes: Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.
Table 2: Drill hole locations
DDH No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation |
30-1077 | 0 | -90 | 879 | 316400 | 5425987.8 | 637.7 |
30-1078 | 0 | -90 | 837 | 316300 | 5425903 | 608.4 |
30-1079 | 0 | -90 | 780 | 316298 | 5425814 | 584.3 |
30-1080 | 0 | -90 | 976 | 315500 | 5426425 | 580.0 |
30-1081 | 0 | -90 | 490 | 316505 | 5425800 | 584.9 |
30-1084 | 0 | -90 | 816 | 316397 | 5425889 | 606.9 |
30-1086 | 0 | -90 | 978 | 315500 | 5426320 | 580.0 |
30-1090 | 0 | -90 | 675 | 316477 | 5425532 | 565.7 |
Drill hole 30-1090 intersected new mineralization located 105 metres south of the 2024 MRE model, returning 279.0 metres averaging 0.49% Cu and 3.35 g/t Ag (including 8.7 metres averaging 2.24% Cu and 9.8 g/t Ag) ; a second intercept in this same hole (below the base of the 2024 MRE model) returned 108 metres averaging 0.84% Cu and 7.79 g/t Ag , extending mineralization to a vertical depth of 525 metres.
Drill hole 30-1078 (located in the south-central deposit) intersected 256.5 metres averaging 0.25% Cu and 1.79 g/t Ag , followed by a second intercept of 381.0 metres averaging 0.22% Cu and 1.69 g/t Ag , extending mineralization 280 metres below the base of the 2024 MRE model to a vertical depth of 688 metres.
Drill hole 30-1079 (located in the south-central deposit) intersected 319.5 metres averaging 0.28% Cu and 2.14 g/t Ag , followed by a second intercept of 180.0 metres averaging 0.37% Cu and 2.54 g/t Ag , extending mineralization 307 metres below the base of the 2024 MRE model to a vertical depth of 636 metres.
Drill hole 30-1081 (located in the south-central deposit) intersected 301.8 metres averaging 0.41% Cu and 3.36 g/t Ag ( including 7.7 metres averaging 1.99% Cu and 14.6 g/t Ag at the level of the C Zone skarn ), followed by a second intercept of 44.5 metres averaging 0.23% Cu and 1.32 g/t Ag, extending mineralization 146 metres below the base of the 2024 MRE model to a vertical depth of 490 metres.
Drill hole 30-1084, also located in the south-central portion of the deposit, intersected 471.4 metres averaging 0.25% Cu and 1.95 g/t Ag, followed by a second intercept at depth of 55.4 metres averaging 0.33% Cu and 2.64 g/t Ag, and a third deeper intercept of 89.7 metres averaging 0.29% Cu and 1.93 g/t Ag, extending mineralization 306 metres below the base of the 2024 MRE model to a vertical depth of 706 metres.
Drill hole 30-1080 (located at the northwest end of the deposit) intersected 520.5 metres averaging 0.23% Cu and 1.02 g/t Ag , followed by a second intercept of 195.0 metres averaging 0.26% Cu and 1.28 g/t Ag , extending mineralization 418 metres below the base of the 2024 MRE model to a vertical depth of 969 metres.
Mineralization occurs as disseminations and veinlets of chalcopyrite and is mostly stratigraphically controlled in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.4% Mo) were locally obtained in both the C Zone and E Zone skarns. At least five vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier skarn/porcellanite-hosted mineralization throughout the Gaspé Copper system.
The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled primary skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).
The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively.
All holes were drilled sub-vertically into the altered calcareous stratigraphy, which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites (pale green to white potassic-altered hornfels) that host the bulk of the disseminated copper mineralization.
The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.
Explanatory note regarding copper-equivalent grades
Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.00/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent consultant, is at "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Quality Assurance / Quality Control
Mineralized intervals reported herein are calculated using an average 0.12% copper lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.
Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.'s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for copper, molybdenum and silver.
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 averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 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 averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 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:
Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129
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 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 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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/9056bd4b-e68d-4dd1-a787-1f3b346d2cde
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e9ed8b2-4c21-47aa-9923-f5e30da77ff4
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About Vertex Minerals Limited:
Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.
Source:
Vertex Minerals Limited
Contact:
Roger Jackson
Executive Chairman
Tully Richards
Technical Director
tully@vertexminerals.com.au
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(TheNewswire)
Vancouver, British Columbia July 8, 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its June 4, June 12, and June 16, 2025, news releases, the Company is pleased to announce that it has closed its private placement financing (the "Financing") for aggregate gross proceeds of $1,100,000.
The Company issued 1,718,731 $0.64 units ("Units"), each Unit consisting of one (1) common share of the Company and one (1) common share purchase warrant, each warrant being exercisable at $0.84 for 5 years, subject to the right of the Company to accelerate the exercise period to 30 days if, after the 4-month hold has expired, shares of the Company close at or above $1.84 for 10 consecutive trading days.
The proceeds will be used to explore Juggernaut's properties located in Northwestern B.C. and for general working capital.
Cash finders' fees of $65,999 were paid and 103,124 non-transferable broker warrants issued in accordance with TSXV Polices.
All securities issued pursuant to this Financing are subject to a 4-month-plus-one-day hold from date of issuance.
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to Tier 1 mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut's key strategic cornerstone shareholder is Crescat Capital.
For more information, please contact
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain disclosures in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut's operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements. Readers are cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Five holes testing central region at MacDiarmid yielded muti-hundred metre intervals including 0.25% nickel over 363 metres in hole MAC 25-09.
New exploration phase to commence July 14 at Midlothian
TORONTO TheNewswire - July 8, 2025 Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce additional drilling results from the MacDiarmid Project as announced by Canada Nickel Company Inc. (" Canada Nickel ") (TSXV: CNC) (OTCQX: CNIKF) operating in the Timmins area of Northern Ontario.
Noble CEO Vance White said, "We congratulate Canada Nickel on the work completed and the additional drilling results on the MacDiarmid Twp Project. It is important to note that Noble retains NSR rights, including a 2% NSR on claims in this project that were acquired by Canada Nickel from Noble, subject to a 50% buyback for $5mm held by Canada Nickel."
As announced today by Canada Nickel, its new drilling program has successfully identified further mineralization extending over a strike length of approximately 2,200 metres and a width of about 400 metres. These results build on the initial work completed in the eastern portion of the property in 2021.
Canada Nickel's CEO, Mark Selby, said, "Our regional exploration program continues to reinforce the strong potential of the Timmins Nickel District and mark a positive step forward following our earlier drilling at MacDiarmid. With our recently completed financing, we are set to resume drilling at our Midlothian property the week of July 14 th . That same week, we anticipate publishing initial resources for our Mann Central and Texmont properties, adding our fourth and fifth resources in the district. By year-end, we expect to publish three additional resource estimates, bringing the total to nine – including Crawford – and further demonstrating the remarkable scale and opportunity within the Timmins Nickel District."
MacDiarmid Property
The MacDiarmid property is located 23 kilometres southwest of Crawford, 27 kilometres northwest of Timmins. The property hosts an arcuate ultramafic body that measures at least 3 kilometres in length and up to 600 metres in width (covering 1.1 square kilometres or similar in size to the Crawford Main Zone target).
Drilling in the winter of 2025 focused on the central portion of the target, testing the width and length extension from the boundaries outlined in earlier exploration campaigns during 2021 and 2022. The drilling intersected predominantly long sections of serpentinized dunite and minor peridotite with disseminated nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. Canada Nickel has drilled a total of 12 holes at MacDiarmid, seven of which were drilled during the 2025 campaign (Figure 1). One hole, MAC25-06 targeted an EM (electromagnetic) anomaly located 800 metres north, outside of the main ultramafic body. The drillhole intersected layered metasedimentary units that in some cases contained angular clasts with varying degrees of sulphide mineralization in them but did not yield any meaningful results. MAC25-10, drilled near an interpreted fault, intersecting at depth, a section of felsic volcanics with strong sulphide mineralization. The fault and EM anomalies remain of interest to Canada Nickel and a follow up program will be planned for fall 2025. Assay highlights from all the 2025 drillholes are presented in this release (Table 1).
Figure 1. – MacDiarmid – CNC Drillholes Over Total Magnetic Intensity
Table 1 – MacDiarmid drilling highlights
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
MAC25-07 | 31.8 | 230.0 | 198.2 | 0.26 | 0.01 | 0.003 | 0.004 | 0.405 | 5.71 | 0.02 |
and | 239.4 | 414.6 | 175.2 | 0.25 | 0.01 | 0.005 | 0.004 | 0.458 | 6.56 | 0.02 |
including | 396.0 | 414.6 | 18.6 | 0.30 | 0.01 | 0.015 | 0.011 | 0.317 | 5.88 | 0.05 |
MAC25-08 | 36.0 | 50.2 | 14.2 | 0.26 | 0.01 | 0.003 | 0.003 | 0.279 | 5.89 | 0.05 |
and | 93.7 | 112.9 | 19.2 | 0.25 | 0.01 | 0.003 | 0.003 | 0.183 | 5.73 | 0.06 |
and | 127.3 | 359.3 | 232 | 0.26 | 0.01 | 0.003 | 0.003 | 0.399 | 6.22 | 0.01 |
and | 401.1 | 413.6 | 12.5 | 0.24 | 0.01 | 0.003 | 0.003 | 0.382 | 5.00 | 0.01 |
MAC25-09 | 42.0 | 405.0 | 363 | 0.25 | 0.01 | 0.007 | 0.004 | 5.39 | 5.64 | 0.02 |
MAC25-10 | 42.0 | 81.8 | 39.8 | 0.23 | 0.01 | 0.003 | 0.003 | 0.588 | 6.18 | 0.05 |
and | 94.1 | 251.9 | 157.8 | 0.22 | 0.01 | 0.003 | 0.003 | 0.557 | 6.35 | 0.03 |
and | 340.3 | 402.0 | 61.7 | 0.01 | 0.01 | 0.003 | 0.003 | 0.012 | 8.05 | 3.60 |
MAC25-11 | 70.0 | 324.0 | 254 | 0.27 | 0.01 | 0.003 | 0.003 | 0.339 | 5.42 | 0.01 |
MAC25-12 | 47.6 | 340.5 | 292.9 | 0.13 | 0.01 | 0.014 | 0.013 | 0.376 | 8.04 | 0.06 |
*True width undetermined. All lengths are drillhole lengths.
Table 2: Drillhole Orientation
Hole ID | Easting ( mE) | Northing ( mN) | Azimuth (⁰) | Dip ( ⁰) | Length (m) |
MACDIARMID | |||||
MAC25-06 | 458148 | 5391664 | 205 | -60 | 379 |
MAC25-07 | 457950 | 5390700 | 45 | -60 | 415 |
MAC25-08 | 458075 | 5390575 | 45 | -60 | 414 |
MAC25-09 | 458215 | 5390460 | 45 | -60 | 405 |
MAC25-10 | 457736 | 5390762 | 45 | -60 | 402 |
MAC25-11 | 458816 | 5390635 | 165 | -50 | 321 |
MAC25-12 | 457896 | 5390914 | 30 | -50 | 441 |
Statement Regarding TSX Venture
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Quality Assurance and Control, Drilling and Assaying
Edwin Escarraga, MSc, P.Geo., a "Qualified Person" as defined by National Instrument 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The NQ sized core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby. All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.
Qualified Person and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "Qualified Person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.
About Canada Nickel Company Inc.
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets . Canada Nickel has applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.canadanickel.com.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc. (20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario, ~14,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs.
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds ~4,600 hectares in the Nagagami Carbonatite Complex and its ~3,200 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), all of which are in the province of Quebec.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Cautionary Note and Statement Concerning Forward Looking Statements
This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the potential of the Mann West Nickel Sulphide Project, timing for filing a technical report in support of the Mineral Resource Estimate, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, timing and completion (if at all) of additional mineral resource estimates, the potential of the Timmins Nickel District, strategic plans, including future exploration and development plans and results, and corporate and technical objectives. Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Noble disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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