Green River Gold (CSE:C CR) is exploring for gold, as well as nickel, cobalt and talc, in the historically-prolific Cariboo gold district in British Columbia, Canada The company's highly prospective and potentially high-grade project feature excellent access to infrastructure, including roads, power and local talent.
The fully-owned Fontaine Lode Gold project spans 8,900 hectares and is located 12 kilometres from Barkerville which was the epicentre of the Cariboo Gold Rush in 1860. The Fontaine Lode Gold project is contiguous to Osisko's Cariboo Gold Project, which is anticipated to begin production in the latter half of 2023.
Green River Gold is led by a highly experienced management team over 60 years of combined technical experience and over 30 years of capital market experience. CEO Perry Little has an impressive 28-year-long successful career with extensive experience in financing junior resource companies and trading in the public markets.
The Cariboo gold district in British Columbia, Canada, was a world-class producer of gold, and site of the famous Cariboo Gold Rush between 1861 and 1867. The district produced approximately 3.8 million ounces (Moz) of gold after 1874, divided roughly evenly between hard rock gold and placer gold production valued at C$50 million.
Today, the Cariboo gold district remains a prospective and mining-friendly region with excellent infrastructure. Interest in the region has been renewed with recent transactions including the acquisition of Barkerville Gold Mines, now held by Osisko Development Corp. (TSXV:ODV).
Other notable names in the Cariboo gold district include Omineca Mining and Metals (TSXV:OMM) with its Wingdam Gold project, Imperial Metals' (TSE:III) Mount Polley mine and Taseko Mines' (TSX:TKO) Gibraltar mine. Mining companies with projects in the Cariboo gold district present investors with renewed discovery potential in a historically significant area.
According to Green River Gold (CSE:CCR) CEO Perry Little, "The hunt is on."
Green River Gold is exploring gold, as well as nickel, cobalt and talc, in the historically prolific Cariboo gold district. The company's highly prospective and potentially high-grade project features excellent access to infrastructure, including roads, power and skilled workers.
The fully owned Fontaine Lode Gold project spans 8,900 hectares and is located 12 kilometers from Barkerville which was the epicenter of the Cariboo Gold Rush in 1860. The Fontaine Lode Gold project is contiguous to Osisko's Cariboo Gold Project, which is anticipated to begin production in the latter half of 2023.
The Quesnel Nickel Cobalt Talc project is contiguous to the early-stage Fontaine Lode Gold project that spans approximately 2,219 hectares. The project has similar geological features to FPX Nickel's (TSXV:FPX) Decar Nickel District project, which some consider the third top nickel project in the world. Historic work on the Quesnel Nickel Cobalt Talc project suggests significant potential for all three minerals. In 2021, nine shallow holes were drilled revealing anomalous amounts of nickel, chromium and magnesium along with talc. Ongoing drilling showed two deeper holes with similar results.
The Kymar Silver project includes two mineral tenures spanning 1,440 hectares in southeastern British Columbia. It is located 28 kilometers west of Invermere in the Golden Mining Division in British Columbia. A historical bulk sample of Kymar Silver revealed high average grades of 2,000 g/t silver, 57 percent lead, 0.8 percent copper and 3.4 g/t gold. The property also features several past-producing artisanal mines.
Green River Gold has strategic positioning in highly prospective geological areas near past-producing mines. The Fontaine Lode Gold project features similar geology to Osisko Development Corp.'s Cariboo Gold project which it borders. The Quesnel Nickel Cobalt Talc project also borders Omineca Mining and Metals' Wingdam Gold project.
In an interview, CEO Perry Little shared, "Every hole drilled and every bit of exploration done by Osisko, Omineca or Green River will lead to a greater understanding of the regional geology."
Currently, Green River Gold is conducting exploration activities on its properties including bedrock mapping, geochemical exploration, ground geophysics and backpack drilling. Green River Gold is also in the process of applying for permits to commence reverse circulation and diamond drilling on its properties. The company is committed to producing a NI 43-101 technical report in a timely manner.
In 2023, the company acquired a 100-percent right, title and interest in the KaLi Pegmatite Project (KaLi), which consists of 1,059.5 hectares of land that dates back to the early 1960s when Noranda Exploration conducted the first comprehensive soil geochem survey over an approximate 5 kilometers by 1.5 kilometers wide area. Two other grassroots surveys were conducted by Amoco in 1974 and Norseman Mining Corp. in 1980 and in 1981, Placer Development Ltd. performed geochemical and geophysical surveys near the southwestern extent of the property. Exploration in the area was initially focused on molybdenum without specifically targeting lithium-bearing pegmatites in the area. The company's updates and proposed lithium exploration plans are underway.
Green River Gold is led by a highly experienced management team with over 60 years of combined technical experience and over 30 years of capital market experience. CEO Perry Little has an impressive 28-year-long successful career with extensive experience in financing junior resource companies and trading in the public markets.
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Developing Prospective Gold Projects in the Cariboo Gold District of BC
Effective immediately, Green River Gold Corp. is suspended pursuant to CSE Policy 3. The suspension is considered a Regulatory Halt as defined in National Instrument 23-101 Trading Rules. A cease trade order has been issued by the Alberta Securities Commissions.
For more information about Cease Trade Orders, visit the Canadian Securities Administrators Cease Trade Order database at www.securities-administrators.ca.
_________________________________
Les activités de Green River Gold Corp. sont suspendues immédiatement, conformément à la politique 3 de la CSE. Cette suspension est considérée comme une suspension réglementaire au sens du Règlement 23-101 sur les règles de négociation. Une ordonnance d'interdiction d'opérations a été émise par la Commission des valeurs mobilières de l'Alberta.
Pour de plus amples renseignements sur les interdictions d'opérations, visitez la base de données des interdictions d'opérations des Autorités canadiennes en valeurs mobilières à l'adresse www.securities-administrators.ca.
| Date : | Le 1 avril/April 2025 |
| Symbol/Symbole : | CCR |
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company") is providing this bi-weekly default status report in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
On February 6, 2025, the Company disseminated a news release (the "MCTO Notice") disclosing that it had voluntarily applied to the Alberta Securities Commission (the "ASC") for a management cease trade order ("MCTO") as it was not able to complete and file its audited financial statements, CEO and CFO certifications, and management discussion & analysis (the "Annual Filings") for the year ended September 30, 2024 by the filing deadline of January 28, 2025. On February 6, 2025, the Company announced that the ASC granted the MCTO.
The Company confirms that since the date of the MCTO Notice: (i) there has been no material change to the information set out in the MCTO Notice that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms that its directors, officers and insiders cannot trade the Company's securities until the Annual Filings have been made.
The Company is working diligently with its auditors and to complete the audit of the financial statements for the year ended September 30, 2024. The MCTO stipulated that the Annual Filings were to be filed by no later than March 28, 2025, and the Company will be in a position to file the Annual Filings on or before that date. Until filing of the Annual Filings, the Company intends to satisfy the provisions of the alternative information guidelines as required by NP 12-203.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca.
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241753
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company") announces that it has requested a temporary Management Cease Trade Order ("MCTO") from the Alberta Securities Commission ("ASC") in connection with the Company's filing of its audited annual financial statements, management's discussion and analysis and the applicable CEO and CFO certifications in respect of such filings for the financial year ended September 30, 2024 (collectively the "Annual Filings").
The Company's financial statements have significantly increased in complexity over the last year due to the Company's expansion into a new line of business. The Company is requesting the MCTO in order to secure additional time for the Company's auditors to complete the audit of the financial statements for the year ended September 30, 2024.
Accordingly, the Company has applied to the ASC for the MCTO that will prohibit the management of the Company from trading in the securities of the Company until such time as the Annual Filings are filed. No decision has yet been made by the ASC on this application. The ASC may grant the application and issue the MCTO or it may impose an issuer cease trade order if the Annual Filings are not filed in a timely fashion.
The Company notes that:
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totalling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238772
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PRESS RELEASE HIGHLIGHTS:
Green River will be entering the real estate development businesses, with a focus on the Edmonton and Northern Alberta region, beginning early in calendar 2025.
The Company's primary business will continue to be exploration and development of its mineral properties in British Columbia.
The new business will be a separate division involving a new senior manager with expertise and a track record of success in real estate development, particularly in the Edmonton region.
Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) ("the Company" or "Green River") has signed a letter of intent to work with an experienced Edmonton, Alberta based developer and rental property manager to develop real estate projects in the Edmonton region. The Company intends to invest primarily in multi-family residential units, including new building projects.
A final agreement with the Edmonton based developer and property manager is expected to be signed by February 15, 2025. Further announcements and details on planned projects will be announced as they are finalized.
Perry Little, President and CEO of Green River comments, "Green River is not abandoning its primary business of exploration and development of mineral properties in British Columbia. This diversification and expansion move is being made to generate cash flow and reduce our reliance on the capital markets for funding exploration. Having lived in Edmonton for the past 45 years, I have watched the residential real estate market go through many cycles. The City is currently experiencing rapid population growth as families move from other Provinces where real estate is priced considerably higher. The Edmonton market has not experienced the rapid price appreciation that has happened in parts of British Columbia and Southern Ontario in recent years. Prices are among the most affordable of the larger cities in Canada. Also, taxes are quite low compared to other Provinces, with Alberta remaining the only Province with no Provincial Sales Tax. Our initial focus will be on building smaller (8-plex) mult-unit rental properties for resale in established neighbourhoods. New zoning bylaws that came into effect at the beginning of 2024 have opened up an opportunity in that market segment. The developer and builder we will be working with have significant experience in that area of the market."
The Company expects to close within the next few days on its $900,000 convertible debenture offering which was announced late in 2024.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totalling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca.
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-Looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238293
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) ("the Company" or "Green River") is pleased to announce the completion of four drill holes for the 2024 season: WK-24-01, WK-24-02, WK-24-03, and DH-24-01. WK-24-01 to 03 were drilled with a portable Winkie drill rig (WK) using an AQTQ core barrel and DH-24-01 with a standard-sized diamond drill rig (DH) using an NQ barrel. The Company has received assay results for holes WK-24-01, WK-24-02, and WK-24-03. These holes were drilled along the Deep Purple magnetic anomaly at the Company's 100%-owned Quesnel Nickel Project, located 40 kilometres east of Quesnel, British Columbia, in the Cariboo Mining District of South Central British Columbia, Canada.
Green River Gold Corp. is pleased to report assay results for drill holes WK-24-01, WK-24-02, and WK-24-03 from the 2024 drilling season at the Quesnel Nickel Project. Significant Ni, Co, Cr and Mg concentrations commenced at the surface in all 3 holes drilled in the Slide Mountain Terrane ultramafic rocks. Hole WK-24-01, drilled to a depth of 100.58 meters, returned an average nickel grade of 0.185%, cobalt at 0.009%, chromium at 0.100%, and magnesium at 21.87%. Hole WK-24-02, drilled to a depth of 102.11 meters, reported an average nickel grade of 0.171%, cobalt at 0.009%, chromium at 0.124% and magnesium at 20.96%. Lastly, hole WK-24-03, with a depth of 62.48 meters, returned an average nickel grade of 0.189% ppm, cobalt at 0.008% , chromium at 0.119%, and magnesium at 21.27%.
Figure 1. Drill Collar Locations WK-24-01, WK-24-02, and WK-24-03.
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| Hole ID | Depth/m | Ni/% | Co/% | Cr/% | Mg/% |
| WK-24-01 | 100.58 | 0.185 | 0.009 | 0.100 | 21.87 |
| WK-24-02 | 102.11 | 0.171 | 0.009 | 0.124 | 20.96 |
| WK-24-03 | 62.48 | 0.189 | 0.008 | 0.119 | 21.27 |
Table 1. Assay results for WK-24-01, WK-24-02, and WK-24-03.
Drill hole DH-24-01 began in the Snowshoe Group-Ramos Succession, composed of compacted metasediments, sandstone, and conglomerate. It then intersected a different lithology which still belongs to the Ramos Succession, characterized by black phyllite, before encountering sulphide-bearing quartz veins containing pyrite and chalcopyrite. From 105.1 to 125.0 meters, the entire drill core was composed of quartz veins, with an associated sulphide content estimated at approximately 5%. Additionally, at a depth of 233.78 meters, the quartz vein section measured approximately 23.11 meters, predominantly hosted within the black phyllite. The quartz veins share a similar mineralogical characteristic with those from WK-23-01 (refer to the June 12, 2023 press release, https://greenrivergold.com/green-river-gold-provides-drilling-update-and-reports-assay-results-from-the-alteration-zone-of-drill-hole-wk-23-01-including-7583-grams-per-tonne-zinc-4340-grams-per-tonne-lead-5-3-grams-per-tonne/). The project geologist logged the drill core in the company's Quesnel facility and sent the samples to Actlabs in Kamloops for a multielement tracing level diagnosis.
Assay results revealed notable mineralization in gold and silver. The highest gold grade recorded was 0.761 g/tonne from 108.0 to 109.0 meters, followed by 0.568 g/tonne from 105.0 to 106.0 meters. Similarly, silver grades peaked at 14.7 ppm from 105.0 to 106.0 meters and 11.3 ppm from 115.0 to 116.0 meters. Elevated gold concentrations were also identified at 106-107 m (0.184 g/tonne Au), 115-116 m (0.292 g/tonne Au), 141-142 m (0.125 g/tonne Au), and 147-148 m (0.199 g/tonne Au).
Project Geologist Tyler Tian commented that the presence of pyrite, chalcopyrite, and elevated gold concentrations within the Snowshoe Group-Ramos Succession multi-quartz veins is highly encouraging. These veins exhibit a similar mineralogical characteristic to those in drill hole WK-23-01, indicating possible continuity in a potential mineralized system. The Eureka Thrust Fault runs closeby to this area, and it could potentially be associated with an orogenic deposit, similar to our neighbour Osisko Development Corp.'s Cariboo Gold Project. We plan to drill additional holes in the Snowshoe Group rocks to further explore and potentially discover orogenic gold associated with shearing along the Eureka Thrust Fault.
Figure 2. Drill collar locations WK-24-01 to 03 and DH-24-01.
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Figure 3 Cross-section of DH-24-01, showing lithology.
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Green River Gold Corp. will include 20 planned NQ diamond drill holes, comprising a 6,000-meter drilling campaign designed to core depths down to 300 meters. This phase aims to expand exploration along the 14-kilometer Slide Mountain Terrane strike length between and around Zone 1 and Zone 2 (see Figure 4). In addition, the 2025 program includes plans for extensive exploration work in Snowshoe Group rocks on the Fontaine Gold Project. This will involve bedrock mapping, soil and rock sampling, and a comprehensive geophysical program. Further details about these initiatives will be announced as they are finalized.
Figure 4. Quesnel Nickel Project, locations of zone one and zone two.
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Quality Assurance, Quality Control
An AQTK (35.5 mm or 1 3/8 in) and NQ (47.6 mm or 1 7/8 in) diameter core barrel was used for the 2024 diamond drill program at the Quesnel Nickel and Talc Property. The drill stem dips and azimuths were orientated at each collar location by a qualified geologist before drilling. Core samples selected for anaylses were generally between 0.6 and 1.5-meter intervals, depending on the identified lithology and mineralization style. The core was cut in half with a diamond core saw, with half of the core placed in sample bags and the remaining half securely retained in core boxes at Green River's office in Quesnel. The standard samples of high-grade (CDN-ME-2001) and low-grade (CDN-PGMS-29) nickel concentrations, repeat samples which returned from previous assaying, and blanks (BL-10) were systematically inserted into each batch of samples at regular intervals and submitted to MSA and Actlabs laboratory. The standard samples were purchased from CDN Resource Laboratories in Langley, British Columbia. The assay lab preparation procedure included crushing the entire sample to 80% passing 2 millimetres, riffle splitting 250 grams, and pulverizing the split to 95% passing 105 micrometres. Base metal analyses were determined using the four-acid digestion method with an ICP-OES finish. Gold analyses were determined using the fire assay method with an ICP-EM finish. Analytical results were verified with the application of industry-standard Quality Assurance and Quality Control (QA/QC) Procedures. The MSA Labs has an ISO 17025 certificate.
Qualified Person:
Stephen P. Kocsis (P.Geo) is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totalling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233506
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Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce results from testwork of a sensor-based ore sorting system, utilizing a composite core sample from the New Amalga Mine Project located approximately 16 miles (25 km) northwest of the city of Juneau.
Summary of Results:
Unsorted Feed | Sorter Reject | Sorted Product | |
Mass (kg) | 64.8 kg | 37.2 kg | 27.6 kg |
% Mass Distribution | 100% | 57% | 43% |
Gold Grade (g/t) | 5.9 g/t | 0.6 g/t | 12.9 g/t |
% Gold Distribution | 100% | 6% | 94% |
Ian Klassen, President and CEO comments: "We are extremely pleased with the results of the testwork with the Steinert ore sorting equipment, which demonstrated excellent ability to identify and reject the unmineralized particles within the sample of New Amalga material, resulting in a 120% increase in gold grade and a 57% reduction in mass with very minimal gold loss."
Mr. Klassen continued: "These results are game changing for a host of reasons. Integrating ore sorting into the conceptual mine production plan significantly reduces the amount of mined rock requiring transportation and processing at a third-party facility, lowering per-ounce costs and also providing useful sorter-reject material for underground backfill, all without the use of chemical processing reagents. This further enhances the existing advantages of our proposed direct-ship mine configuration which utilizes offsite processing. As demonstrated by the test results, it may also create opportunities for inclusion of thinner veins into the mine plan - areas of the deposit which otherwise may not have been considered viable."
Background:
As previously announced, the Company's Conceptual Mining Plan envisions the future development of the New Amalga gold mine as a selective underground mining operation which would send ore off-site to be processed at a third-party facility, enabled by the project's location near tidewater and less than 4 miles (6.5km) from existing paved highway (Fig. 4). This results in a dramatically reduced mine site footprint due to the avoidance of chemical processing and tailings storage facilities.
The purpose of ore sorting is to quickly separate particles of waste dilution rock from the mined material, without the use of chemical reagents. The goal is to significantly reduce the volume of material that would be transported off-site to a third-party processing facility.
Grande Portage assembled a drill core composite which included both ore and waste material to reflect the dilution from wall rock (waste) which is inherent with underground blasting of narrow ore veins. The core composite was subjected to a sensor-based ore sorting test process at the facilities of Steinert US Inc, a leading global manufacturer of ore-sorting equipment.
Technical Description of Ore Sorting Test Process:
Sensor-based ore sorting can utilize a variety of measurements to determine whether a particle is ore or waste, including color, electromagnetic induction, laser, and x-ray analysis to assess elemental composition. The crushed rock is placed on a conveyor belt and then passed in front of the sensor, which rapidly analyzes the individual pieces of rock. When a piece of rock is identified as waste, a puff of compressed air redirects it to a "reject" bin. The remining pieces of rock are sent to the accepted "product" stockpile. (Fig. 2)
Fine particles too small to effectively sort are typically combined with the "product" stockpile, since higher-grade material tends to produce more fines during blasting and crushing due to the higher sulphide content and brittle nature of the quartz vein rock.
For the testwork, a series of reference samples were analyzed by the sorter machine, reflecting core material of various categories including "high grade ore", "mid grade ore", "low grade ore", and "waste". This allowed the sorter to learn the characteristics of each type of material in order to generate a sorting algorithm. Each of these reference samples were sourced from multiple drill holes at various locations within the deposit in order to capture any spatial variability in the rock characteristics.
After the sorting algorithm was developed, the composite sample was fed into the sorter machine (Fig. 3). This composite was sourced from multiple drill holes in various areas of the deposit distinct from the reference samples. It included approximately 55% wall rock and 45% vein rock, reflecting potential waste dilution within run-of-mine material to simulate mining an area of vein narrower than the minimum mechanized mining width.
In addition to the "product" material, three splits of "reject" material were generated from sorting the sample at progressively increasing level of selectivity, reflecting operation of the machine at various degrees of sorting criteria. All material was then assayed at SGS-Lakefield.
All three "reject" splits returned assays below the level which would be considered viable to transport and process at a third-party facility, and were therefore classified as waste, indicating that the highest level of sorter selectivity is appropriate. In total the sorter rejected 57% of the feed material, indicating excellent alignment with the approximately 55% wall rock content of the composite sample.
Additionally, all material was screened before assay to collect unsortable fines (<1cm), which were assayed separately. This confirmed that the fines contained a high degree of gold mineralization and are appropriate to combine with the "product" sample. A full table of results is shown below (Fig. 1).
Fig. 1: Table of Assay Results
Reject #1 | Reject #2 | Reject #3 | Sorted Product | Unsortable Fines | |
Mass (kg) | 12.2 | 13.1 | 11.9 | 22.6 | 5.0 |
Au (g/t) | 0.48 | 1.09 | 0.30 | 12.9 | 13.1 |
Overall Waste Rejected | Overall Product | ||||
Mass (kg) | 37.2 | 27.6 | |||
Au (g/t) | 0.64 | 12.94 |
Fig. 2: Simplified Conceptual Diagram of an Ore Sorting System
Fig. 3: Image of Ore Sorting Testwork Being Conducted on New Amalga Samples
A short video of the testwork process is available on YouTube at https://youtu.be/K4XzoRbjCXA
Fig. 4: Location of New Amalga Mine Project
Kyle Mehalek, P.E.., is the QP within the meaning of NI 43-101 and has reviewed and approved the technical disclosure in this release. Mr. Mehalek is independent of Grande Portage within the meaning of NI 43-101.
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on advancing the New Amalga Mine project, the outgrowth of the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the New Amalga property. The New Amalga gold system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over eight million ounces of gold.
The Company's updated NI#43-101 Mineral Resource Estimate (MRE) reported at a base case mineral resources cut-off grade of 2.5 grams per tonne gold (g/t Au) and consists of: an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes); and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes), as well as an Indicated Resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes); and an Inferred Resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes). The MRE was prepared by Dr. David R. Webb, Ph.D., P.Geol., P.Eng. (DRW Geological Consultants Ltd.) with an effective date of July 17, 2024.
ON BEHALF OF THE BOARD
"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 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.
Please note that under National Instrument 43-101, the Company is required to disclose that it has not based any production decision on NI 43-101-compliant reserve estimates, preliminary economic assessments, or feasibility studies, and historically production decisions made without such reports have increased uncertainty and higher technical and economic risks of failure. These risks include, among others, areas that are analyzed in more detail in a feasibility study or preliminary economic assessment, such as the application of economic analysis to mineral resources, more detailed metallurgical and other specialized studies in areas such as mining and recovery methods, market analysis, and environmental, social, and community impacts. Any decision to place the New Amalga Mine into operation at levels intended by management, expand a mine, make other production-related decisions, or otherwise carry out mining and processing operations would be largely based on internal non-public Company data, and on reports based on exploration and mining work by the Company and by geologists and engineers engaged by the Company.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
All amounts expressed in US dollars
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) The Reko Diq Joint Venture shareholders have approved the project's updated Feasibility Study and conditionally approved the associated Phase 1 development capital subject to the closing of up to $3 billion limited recourse project financing, allowing the project to advance with major works in 2025, while maintaining the target for first production by the end of 2028.
At the same time, the shareholders have selected Fluor Corporation as the lead Engineering, Procurement and Construction Management (EPCM) partner to work alongside the Barrick Owner's Team in the detailed design and construction of the project.
Speaking from the Pakistan Minerals Investment Forum in Islamabad today, Barrick president and chief executive Mark Bristow said this important milestone reflected the support of the governments of Balochistan and Pakistan, in partnership with Barrick, to develop one of the world's largest undeveloped copper-gold projects. The project is located in the province of Balochistan, Pakistan, and operated by Barrick.
"The selection of Fluor as our EPCM partner strengthens our ability to execute the Reko Diq project with the technical rigor, operational discipline and socio-environmental responsibility that are hallmarks of both companies," said Bristow. "We look forward to working closely with Fluor to ensure that Reko Diq delivers lasting value to all our stakeholders, particularly the people of Balochistan and Pakistan."
Fluor will be supported by a range of expert engineering consultants including Knight Piesold, PRDW and Vecturis, who have worked with the Barrick Owner's Team throughout the Feasibility Study.
Bristow said the selection of Fluor reflects a shared commitment to delivering large-scale mining projects safely, responsibly and efficiently, while maximizing local content and community development. Metso, Weir and Komatsu have also been selected as key partners to the project, providing the majority of the processing and mining equipment.
"These engineering and supply partnerships bring extensive global experience in delivering large copper concentrate projects in challenging jurisdictions, including high-altitude, remote and logistically complex environments. This expertise aligns strongly with Barrick's own track record of successfully developing and operating major projects in challenging jurisdictions around the world," Bristow said.
Barrick Enquiries
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "target", "progress", "aim", "process", "hope", "potential", "grow", "ensure", "believe", "create", "will", "would" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: development and operation of the Reko Diq project, including the anticipated timeline for construction and first production; the contemplated life of mine, production and economics of the Reko Diq project; the anticipated sharing of the benefits from the Reko Diq project with Barrick's host governments and communities in line with Barrick's partnership model; future demand for metals and minerals, particularly copper, and expectations regarding financial performance and other outlook or guidance.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management's experience and perception of current conditions and expected developments, 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 statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as diesel fuel, natural gas and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation and exploration successes; risks associated with projects in the early stages of evaluation and development and for which additional technical, engineering and other analysis is required; disruption of supply routes which may cause delays in development, construction and mining activities; diminishing quantities or grades of reserves; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges and disruptions in the maintenance or provision of required infrastructure and information technology systems; failure to comply with environmental and health and safety laws and regulations; the failure to obtain key licenses by governmental authorities; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in the Islamic Republic of Pakistan or the Province of Balochistan; timing of receipt of, or failure to comply with, necessary permits and approvals; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; risks associated with illegal and artisanal mining; risks associated with new diseases, epidemics and pandemics; damage to Barrick's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick's handling of environmental matters or dealings with community groups, whether true or not; the possibility that future exploration results will not be consistent with Barrick's expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; litigation; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; business opportunities that may be presented to, or pursued by, Barrick; risks associated with working with partners in jointly controlled assets; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages related to climate change; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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