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10 April
Trigg Minerals
Investor Insight
Trigg Minerals is well-positioned to become a globally significant supplier of antimony, a critical mineral essential to the defense, clean energy and semiconductor sectors. Backed by a strategic focus, a supportive jurisdiction, and timing that aligns with macroeconomic urgency, Trigg is uniquely placed to deliver value from the ground up.
Overview
Trigg Minerals (ASX:TMG,OTCQB:TMGLF) is an emerging leader in the global critical minerals space, focused exclusively on the development of antimony—a metal designated as essential by the United States, Australia and the European Union for its role in national defense, energy transition technologies, and advanced industrial applications. The company’s flagship asset, the Wild Cattle Creek deposit within the Achilles antimony project in New South Wales, is the highest-grade undeveloped antimony resource in Australia and one of the few large-scale, standalone antimony projects globally. As geopolitical and industrial dynamics shift, Trigg Minerals is uniquely positioned to provide a secure, sovereign source of antimony to Western markets, amid a continuing global supply crunch.
In 2024, China—responsible for 83 percent of global production—imposed a complete export ban on antimony products to the US, following earlier restrictions on powdered forms. Combined with sanctions on Russian producers and the depletion of strategic stockpiles across NATO and allied nations, these developments have triggered a severe global supply shortage. Spot prices have surged to over US$51,000 per tonne—more than double their 2023 average—underscoring the urgent need for alternative sources.
Antimony spans a wide range of applications. It is a critical component in flame retardants, semiconductors, night vision optics, military alloys, solar panel coatings, and battery technologies. Demand is accelerating, particularly in the defense and renewable energy sectors, with a projected CAGR of 6.1 percent. However, viable new supply is extremely limited outside of China and its allies, presenting a once-in-a-generation opportunity for companies like Trigg to fill the gap and anchor Western critical mineral supply chains.
Trigg’s growth strategy is built around three key points. First, the company is advancing a high-impact resource expansion program at Wild Cattle Creek, aiming to increase its current JORC-compliant resource of 1.52 million tons (Mt) @ 1.97 percent antimony for 29,902 tonnes contained metal to more than 100,000 tonnes—potentially making it one of the top three antimony deposits in the world. Second, Trigg is capitalizing on the structural shift in global supply chains. With a Tier-1 jurisdiction, ESG-aligned operations, and backing from government incentives, the company is ideally placed to serve downstream processors and strategic buyers, particularly in the U.S. and allied nations seeking to reduce reliance on Chinese-controlled supply. Third, Trigg is maintaining disciplined and focused execution. Over 90 percent of capital and operational resources are allocated to advancing Wild Cattle Creek, ensuring near-term value creation.
Company Highlights
- Trigg Minerals is an ASX-listed company entirely focused on antimony, a critical mineral vital for solar panels, flame retardants, semiconductors and military applications.
- The flagship Achilles project’s Wild Cattle Creek deposit hosts a high-grade JORC resource of 1.52 Mt @ 1.97 percent antimony for ~30,000 tonnes contained antimony—Australia’s highest-grade undeveloped antimony deposit.
- The company’s aggressive expansion plan includes a near-term drilling program targeting a threefold increase in contained antimony to over 100,000 tonnes, positioning Trigg among the top three antimony deposits globally.
- Trigg is attracting growing attention as a potential partner to support Western antimony supply chains amid rising demand and geopolitical tension.
- Operating in New South Wales—a Tier 1 jurisdiction—Trigg benefits from government incentives, including co-investment, exploration support and deferred royalty schemes.
- China controls 83 percent of global antimony production and recently banned exports to the US, creating a strategic opening for Western suppliers like Trigg.
Key Project
Achilles Antimony Project – Wild Cattle Creek Deposit
Trigg Minerals’ flagship asset is the Wild Cattle Creek (WCC) deposit, located within its Achilles antimony project in northern New South Wales. Hosting a JORC 2012-compliant mineral resource of 1.52 Mt @ 1.97 percent antimony for 29,902 tonnes of contained metal, WCC is Australia’s highest-grade undeveloped antimony resource and among the most significant globally. The deposit lies along the Bielsdown Fault, a 6 km underexplored mineralised corridor within the New England Orogen—a prolific metallogenic belt.
Geologically, the deposit is hosted in a steeply dipping, silicified breccia lode bounded by metasedimentary rocks. The high-grade core (>2 percent antimony) extends 350 metres down plunge, is exposed at surface, and maintains an average true width of ~20 metres—ideal for future underground bulk mining. The current mineral resource estimate is conservative, focused on cemented breccia zones, but upcoming drilling will include the broader tungsten-antimony stockwork and disseminated stibnite-bearing mineralisation, potentially widening the mining envelope to more than 15 metres. The system is also enriched in tungsten, mercury and gold, with 30 regional gas and geochemical targets identified. Historic hits such as 1.3 m @ 11.8 percent antimony at the Jezebel prospect underscore the broader potential.
Trigg’s near-term strategy is simple and high-impact: secure land access, initiate an aggressive drilling program, and grow the antimony resource to more than 100,000 tonnes. Drilling contracts are in place, target zones have been defined, and land access negotiations are nearing completion, with execution anticipated in mid-2025. With China’s dominance being actively challenged by the West, Trigg offers timely, scalable exposure to a critical mineral that is scarce in nature and increasingly strategic.
Other Projects
Taylors Arm Antimony Project
Taylors Arm is a high-grade antimony district with more than 80 historic workings across seven known mining camps. Samples have returned grades of more than 50 percent antimony, including 63 percent at the Testers Mine—the highest antimony assay on record in Australia. The project also hosts silver grades more than 840 grams per ton (g/t0 and gold up to 24 g/t, indicating a polymetallic system with strong exploration upside. Trigg is conducting early-stage work to refine targets for follow-up drilling.
Spartan Antimony Project
Located adjacent to the Hillgrove antimony-gold operation (Australia’s largest known antimony deposit), Spartan is strategically situated along the Hillgrove Fault and shares geological characteristics with the adjoining high-grade system. Early exploration has confirmed structural continuity and polymetallic potential, particularly for stibnite-gold veining. Spartan complements Trigg’s core project with near-mine growth opportunities.
New Project Areas – Nundle, Upper Hunter, Cobark/Copeland
Trigg recently secured new exploration tenements across the Nundle, Upper Hunter, and Cobark/Copeland regions, all highly prospective for gold-antimony mineralisation. These projects, located within structurally complex terrains analogous to Achilles, will be progressively advanced as part of Trigg’s long-term project pipeline strategy.
Management Team
Timothy Morrison – Executive Chairman
Tim Morrison is a highly experienced executive in the Australian resource and capital markets sector. With a background in law and investment banking, Morrison has held senior roles in both private and public resource companies, including those focused on critical minerals, base metals, and energy. His leadership at Trigg is defined by a clear strategic focus: unlock value from the Wild Cattle Creek deposit and position the company as a cornerstone in the global antimony supply chain. Morrison brings extensive experience in stakeholder engagement, project financing, and government relations, having previously led funding rounds, IPOs, and major project negotiations across multiple jurisdictions. His vision for Trigg is underpinned by a disciplined growth strategy and sovereign supply positioning.
Jonathan King – Technical Director
Jonathan King is a seasoned geologist with over 20 years of experience in mineral exploration and resource development. He has worked across a broad range of commodities including antimony, gold, copper, and rare earths, and has been instrumental in leading exploration teams across Australia, Southeast Asia and Africa. At Trigg, King is responsible for designing and executing the company’s exploration programs, including the upcoming high-impact drill campaign at Wild Cattle Creek. His technical leadership ensures that resource expansion is driven by rigorous geoscientific methodology, with a focus on unlocking district-scale potential across the broader Achilles project area.
Andre Booyzen – Non-executive Director
Andre Booyzen is an experienced mine operator and leader and has 25+ years of experience in operational, senior and executive roles, and is a specialist in antimony mining. He brings extensive experience in mine development, operational strategy, and off-take agreements. Booyzen previously served vice-president of Mandalay Resources (TSX:MND, OTCQB:MNDJF), where he had full strategic and operational control including product sales, off takes and funding negotiations at the Costerfield gold-antimony mine in Victoria, currently Australia’s only producer of antimony concentrate. Booyzen also served on the board of the Minerals Council of Australia (Victoria) for more than five years and was chairman for three of those.
Bishoy Habib – Non-executive Director
Bishoy Habib holds a Bachelor’s in Applied Science (Software Eng) and has been a global investor for more than a decade, with a particular focus in the resources sector. He is a qualified and experienced leader, with over 15 years’ project delivery and management experience in large multinational organisations. Habib has a strong understanding of the resources sector, with access to a wide-reaching network and project delivery expertise across Africa, the Middle East, Europe and South America.
Nicholas Katris – Non-executive Director and Company Secretary
Nicholas Katris has over 15 years of experience in corporate advisory and public company management, having begun his career as a chartered accountant. He has been actively involved in the financial management of public companies within the mineral and resources sector, holding roles on both the board and executive management teams. His expertise spans the advancement and development of mineral resource assets, as well as business development. Throughout his career, Katris has worked across Australia, Africa, Brazil and Canada, gaining extensive experience in financial reporting, capital raising, and treasury management for resource companies. He currently serves as company secretary for Leeuwin Metals (ASX:LM1) and Perpetual Resources (ASX:PEC).
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Advanced-stage exploration company developing one of the world’s highest-grade undeveloped antimony assets in New South Wales
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13 August
GMV Minerals Inc. Announces Updated PEA Results at Mexican Hat Gold Project in S.E. Arizona
GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce positive results from the updated Preliminary Economic Assessment ("PEA") study of the Mexican Hat Gold Project (the "Mexican Hat Project"), located in Cochise County, southeastern Arizona.
A National Instrument 43-101 -Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report (the "Report") entitled "Updated NI 43-101 Technical Report Preliminary Economic Assessment, Mexican Hat Project" with an effective date of August 8, 2025 will be filed on SEDAR+ at www.sedarplus.ca under the Company's profile within 45 days of this news release. All amounts are stated in second quarter 2025 US dollars (US$).
The Mexican Hat hosts a shallow oxide gold resource with excellent metallurgy and high recoveries, supported by a low strip ratio and minimal pre-stripping. Infrastructure is in place and the Mexican Hat Project demonstrates a robust NPV and IRR. With fast leach kinetics and low reagent consumption, the Company believes the Mexican Hat Project offers exceptional potential economics.
Highlights:
- The Base Case generates a pre-tax Internal Rate of Return ("IRR") of 66.1% (after-tax 50.2%) and a pre-tax net present value ("NPV") at a 5% discount rate of US$390.2 million (after-tax US$268.3 million) with a 1.53 year payback (1.82 year after-tax) of invested capital using a US$2,500 per ounce gold price.
- Based on price sensitivity analysis at approximately the current price of US$3,350 per ounce of gold, the project returns a pre-tax IRR of 106.8% (after-tax 82.5%) and a pre-tax NPV at a 5% discount rate of US$767 million (after-tax US$538.1 million) with a payback period of 1.10 years (1.3 years after-tax).
- Base Case mine life of 10 years with total production of 597,841 ounces, averaging approximately 60,000 ounces per year.
- Crushed mineralized material will be conveyor stacked at a rate of approximately 10,000 tonnes/day on a conventional heap leach pad.
- Capex: US$89,997,000 (including US$15.4 million contingency).
- Opex: US$788 million LOM with Low LOM Strip Ratio of 2.05
- Estimated cash cost of production is US$1,354 per ounce with an all-in-sustaining cost of $1,545 per ounce inclusive of sustaining capital and additional overhead support.
- Engineering design analysis indicates the potential to increase pit size and contained ounces with increased gold prices.
FINANCIAL INDICATORS
The following table summarizes the financial indicators for the Mexican Hat Project for both before and after taxes.
Financial Indicators Before Taxes | Values |
NPV cash flow (undiscounted) | US$537.7M |
NPV @ 5% | US$390.2M |
IRR % | 66.1% |
Payback (years) | 1.53 |
Financial Indicators After Taxes | Values |
NPV cash flow (undiscounted) | US$377.9M |
NPV @ 5% | US$268.3M |
IRR % | 50.2% |
Payback (years) | 1.82 |
GOLD PRICE SENSITIVITY TABLE (US$ MILLIONS)
The following table summarizes the pre-tax and post-tax economic results to gold price sensitivity.
Pre-Tax and Post-Tax Sensitivity to Gold Price
-60% | -45% | -30% | -15% | Base | +15% | +34% | +45% | +60% | |
US$/troy oz Gold | 1,000 | 1,375 | 1,750 | 2,125 | 2,500 | 2,875 | 3,350 | 3,625 | 4,000 |
IRR (Pre-Tax) | 18.3% | 45.0% | 66.1% | 85.0% | 106.8% | 118.7% | 134.2% | ||
NPV @ 5% (Pre-Tax) US$M | -274.7 | -108.5 | 57.7 | 224.0 | 390.2 | 556.4 | 767.0 | 888.9 | 1,055.1 |
IRR (Post-Tax) | 11.3% | 33.4% | 50.2% | 65.2% | 82.5% | 91.9% | 104.2% | ||
NPV @ 5% (Post-Tax) US$M | -274.9 | -117.3 | 25.8 | 149.3 | 268.3 | 387.4 | 538.1 | 625.4 | 744.4 |
INITIAL CAPITAL EXPENDITURES (US$ MILLIONS)
Initial capital expenditures are estimated at US$89,997,000 million as detailed below:
OPERATING COSTS
The mine operating costs were calculated to average $3.49 per tonne mined as summarized below.
Mine Operating Cost Center | Unit Cost (US$/t mined) |
Owner Mining Personnel | $0.11 |
Owner Supplies & Misc. | 0.03 |
Contractor Mining | 3.35 |
Total Cost (Rounded) | $3.49 |
The life-of-mine operating costs were calculated to average US$20.44/tonne resource processed as summarized below.
Operating Cost | Cost per Tonne of Crushed Material Processed (US$/t) |
Mining | $10.60 |
Processing | $8.79 |
G&A | $1.05 |
Total Site Operating Cost | $20.44 |
MINERAL RESOURCES
An updated Mineral Resource Estimate prepared by DRW Geological Consultants Ltd., with an effective date of August 8, 2025, was used in the PEA. Details of the Mineral Resource Estimate can be found in the Report to be filed on SEDAR+ within 45 days of this release.
Category | Cut-off (g/t Au) | Grade (Au, g/t) | Tonnes | Gold Oz | Strip Ratio |
Inferred | 0.20 | 0.58 | 36,733,000 | 688,000 | 2.36 |
- The Mineral Resource Estimate has been constrained to a preliminary optimized pit shell, using the following parameters: SG = 2.57 gm/cc based on testwork, mining costs = $3.00/tonne, mining recovery = 98%, mining dilution = 2%, process cost = $5.00 per tonne, G&A = $1.05 per tonne, gold price = $2,500 per troy ounce, throughput at 10,000 tpd., discount rate = 5%. A cost of $0.03 was added per bench to the mining cost below the existing level surface.
- A top cut of 32 gpt gold is applied to all zones except Zone 6 which has a top cut of 50 gpt gold.
- Mineral Resources have been calculated using the Inverse Distance Squared method.
- Mineral Resources constrained to optimized pit shells are not Mineral Reserves and do not have demonstrated economic viability.
- Conforms to NI 43-101, Companion Policy 43-101CP, and the CIM Definition Standards for Mineral Resources and Mineral Reserves. Inferred Resources have been estimated from geological evidence and limited sampling and must be treated with a lower level of confidence than Measured and Indicated Resources.
- All numbers are rounded. Overall numbers may not be exact due to rounding.
- There are no known legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources.
MINE PLAN
The mine plan is conceived as a conventional open pit tuck and shovel/loader operation. There are two independent pits which are developed with five-phase or pushback designs. Pit shells were designed using 6.0-meter benches with a catch bench installed every 18 meters. A bench face angle of 66° was used, resulting in an inner-ramp angle of 45° when catch benches were included. An 88% overall gold recovery has been used in this study, which was based on bottle roll and column leach test results. Base case haulage ramps are 26 meters wide and have a design gradient of 10%. Processing rates are based on a daily crushing rate of approximately 10,000 tonnes per day utilizing two stage crushing
The mine and crushing will be operated by contractors with oversight by GMV mine management. The mine plan produces a nominal tonnage to the crushing and heap leach of 3,500 Ktonnes per year (10,000 tpd) from a total material movement of 93.8 Ktonnes for the life of mine (26,106 tpd LOM average).
The PEA is preliminary in nature; it includes inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. There is no Mineral Reserve at the Mexican Hat Project at this time. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Over the course of the mine life, 38.6 Mtonnes of Mineralized Resource is planned for processing out of a total material movement of 117.8 Mtonnes.
INFRASTRUCTURE & PROCESS PLANT
The Mexican Hat Project is located in the southeastern part of the State of Arizona, approximately 72 miles east-southeast of Tucson, and can be accessed from the Old Ghost Town Road., a gravel road extending south of the Town of Pearce or north from Gleeson Road.
Groundwater will be used as the source of water for mining operations. No permitting restrictions or quantity issues are anticipated.
A 69 kV powerline to site will be supplied by Sulphur Springs Valley Electric Cooperative from their power plant located 30 km north of the project site.
The crushing plant will be operated by a contractor to produce a crushed product for heap leaching with a 25 mm top size. Pregnant solution from the heap leach will be processed in a conventional adsorption desorption recovery (ADR) plant. The process plant will produce doré gold bars.
TECHNICAL REPORT AND QUALIFIED PERSONS
The Report entitled Updated Preliminary Economic Assessment, Mexican Hat Project", with an effective date of August 8, 2025 and which was prepared by the following Qualified Persons (as defined under NI 43-101), all of whom are independent of the Company, will be filed by the Company within 45 days of this release on www.sedarplus.com:
- Mr. Brian Olson, Q.P., Samuel Engineering, Inc. (Metallurgical Test Work and Recovery, Process Plant and Process Operating Costs)
- Mr. Steven Pozder, P.E., Samuel Engineering, Inc. (Project Economics and Infrastructure)
- Dr. Dave Webb, Ph.D., P.Eng., P.Geo., DRW Geological Consultants Ltd. (Mineral Resource Estimate, Property Description and Location, Accessibility, Climate, Local Resource, Infrastructure and Physiography, History, Geological Setting and Mineralization, Deposit Types, Exploration, Drilling, Sample Preparation, Analysis and Security, Data Verification).
- Mr. Thomas L. Dyer, P.E., RESPEC LLC. (Mine Design, Production Schedule, Capital and Operating Costs)
- Mr. Francisco J. Barrios, P.E., BBA Consultants International LP (Pad Design and Loading)
- Ms. Dawn Garcia, CPG, PG, Stantec Consulting Services Inc. (Environmental)
All Qualified Persons have contributed to their corresponding sections in Interpretation, and Recommendations. The Qualified Persons have reviewed and approved the scientific, technical, and economic information obtained in this news release.
For a description of the data verification process and limitations, underlying assumptions and the results of surveys and quality assurance program regarding exploration information, please refer to the Company's existing NI 43-101 Technical Report filed on SEDAR+ entitled "Preliminary Economic Assessment, Mexican Hat Project" with an effective date of October 20, 2020.
Ian Klassen, President & CEO remarked that "The robust PEA confirms our contention that the project's strong economic potential de-risks the development pathway, providing a solid foundation for advancement. The results validate the open-pit, heap-leach concept, demonstrate excellent metallurgy and recoveries, and outline a simple mining and processing strategy. With high margins, rapid payback, and straightforward engineering, the PEA positions the project well for the future, where detailed design, capital optimization, and permitting can advance with confidence."
2025-2026 Forward Looking Plan
The Mexican Hat Project PEA economics justify continued investment in project development. The forward-looking plan for Mexican Hat includes work required to advance the project through Feasibility Study and into the permitting process.
These tasks include:
- Approx. 7000 meters of in-fill drilling to increase confidence in the current geological understanding and mineral resource estimation to sufficient level to support mineral reserve development
- Metallurgical column, hardness, and grinding tests to further optimize and improve heap leach gold recovery, and to provide information for feasibility design work
- Performing a trade-off study for self-mining and crushing versus contract mining and crushing
- Geotechnical drilling and analysis to optimize pit slope design parameters
- Conduct base-line water sampling, and update of hydrologic, cultural, and environmental studies for permitting
About GMV Minerals Inc.
GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat Project, located in Cochise County, Arizona, USA. The project was initially explored by Placer Dome (USA) in the late 1980's to early 1990's. GMV is focused on developing the asset and realizing the full mineral potential of the property through near term gold production.
PEA Information and Cautionary Note Regarding Inferred Mineral Resources
The mine plan evaluated in the PEA is preliminary in nature and includes Inferred Mineral Resources, as defined by NI 43-101 that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be converted to Mineral Reserves. Additional drilling and technical studies will need to be completed in order to fully assess its viability. There is no certainty that a production decision will be made to develop the Mexican Hat Project or that the economic results described in the PEA will be realized. Mine design and mining schedules, metallurgical flow sheets and process plant designs will require additional detailed work and economic analysis and internal studies to ensure satisfactory operational conditions and decisions regarding future targeted production.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this report, such as "measured," "indicated," "inferred," and "resources," that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" under applicable Canadian securities legislation. Forward-looking information 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 information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Forward-looking information contained in this news release include, but are not limited to, statements or information with respect to: the results of the PEA, including the IRR and NPV, life of mine and production, capital and operating expenditures, cost estimates; permitting restrictions, and the mine plan, including infrastructure requirements and future plans; the filing of the PEA, including timing thereof, mineral resources; and future gold prices. Since forward-looking information 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. Assumptions upon which forward-looking information contained in this news release is based, without limitation, include: results of future exploration; gold prices; accuracy of the results of the PEA, including key assumptions and methods used to determine mineral resources and the results of the PEA; the ability to obtain required permits and approvals; the ability to execute future plans; exchange rates; ability to obtain funding; and changes in regulatory or community environment; Risks, and uncertainties include: results of further exploration; risks related to mineral tenure, permits and approvals; risks related to the execution of future plans; changes in gold price and exchange rates; risks related to obtaining financing; foreign country risks; regulatory risks and liabilities; and those risks and uncertainties as further described in the Company's filings with Canadian securities regulators which can be found on SEDAR+ at www.sedarplus.ca under the Company's profile. 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. 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.
Dr. D.R. Webb, Ph.D., P.Geo., P.Eng. is the Q.P. responsible for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President
For further information please contact:
GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: info@gmvminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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13 August
Earthwise Minerals Announces Private Placement
Earthwise Minerals Corp. (CSE: WISE & FSE: 966) ("Earthwise" or the "Company") is pleased to announce that it intends to complete a non-brokeredprivate placement financing (the "Offering") of up to 7,500,000 flow through units ("FT Units") at a price of $0.02 per share and up to 2,500,000 non-flow through units ("NFT Units") at a price of $0.02 per unit for gross proceeds of up to $200,000.
Each NFT Unit shall consist of one common share in the authorized share structure of the Company ("NFT Share") and one common share purchase warrant ("NFT Warrant"). Each NFT Warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 for a period of 24 months from the date of issuance.
Each FT Unit shall consist of one common share in the authorized share structure of the Company ("FT Share") and one half of one common share purchase warrant ("NFT Warrant"). The FT Shares are intended to qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act"). The gross proceeds from the sale of the FT Shares will be used to incur "Canadian exploration expenses" that are intended to qualify as "flow-through mining expenditures" as those terms are defined in the Tax Act, which the Company intends to renounce to the purchasers of the FT Shares.
Completion of the Offering is subject to customary conditions, including regulatory approvals. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the Closing Date.
The proceeds from the FT Offering will be used to advance the Company's exploration activities and continue unlocking value at the Iron Range Gold Property in British Columbia. The Company intends to use the proceeds from the NFT Offering for general working capital.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful
About Earthwise Minerals
Earthwise Minerals Corp. (CSE: WISE; FSE: 966) is a Canadian junior exploration company focused on advancing the Iron Range Gold Project in southeastern British Columbia near Creston, B.C. The Company holds an option to earn up to an 80% interest in the fully permitted project, which is road-accessible and situated within a prolific mineralized corridor. The property covers a 10 km x 32 km area along the Iron Range Fault System and hosts multiple high-grade gold showings and large-scale geophysical and geochemical anomalies.
For more information, visit www.earthwiseminerals.com.
EARTHWISE MINERALS CORP.,
ON BEHALF OF THE BOARD
"Mark Luchinski"
Contact Information:
Mark Luchinski
Chief Executive Officer, Director
Telephone: (604) 506-6201
Email: luch@luchccorp.com
Forward Looking Statements
This news release includes statements that constitute "forward-looking information" as defined under Canadian securities laws ("forward-looking statements") including, without limitation, statements respecting the Offering and the intended use of proceeds therefrom. Statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in its forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and actual outcomes may differ materially from those in forward-looking statements. Additional information regarding the various risks and uncertainties facing the Company are described in greater detail in the "Risk Factors" section of the Company's annual management's discussion and analysis and other continuous disclosure documents filed with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.
For more information, please contact Mark Luchinski, Chief Executive Officer and Director, at luch@luchccorp.com or (604) 506-6201.
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12 August
Keith Weiner: Gold, Silver in Bull Markets — Here's What's Different This Time
Keith Weiner, founder and CEO of Monetary Metals, discusses gold and silver's performance so far this year and shares his outlook for the rest of 2025.
He also explains what makes today's gold bull market different than those seen in prior years.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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12 August
China-Linked Gold Syndicates Driving Toxic Mining Boom in Indonesia: Report
Remote hillsides in Indonesia are being stripped bare and villages are grappling with poisoned soil, all due to a growing illicit gold trade that investigators say is being driven in large part by Chinese syndicates.
A Washington Post exposé based on satellite imagery, trade data, public records and interviews across three continents, found that these operations, which are being bankrolled by private Chinese investors, are far beyond the reach of local authorities, often running without interference from local police.
In Indonesia’s Lantung region, gold trader Heru Hairuddin expressed concern, telling the news outlet, “We don’t know where they take it. We only know it doesn’t stay here.”
Villagers say cyanide runoff from nearby pits has killed crops and cattle. Locals who mine with hand tools are dwarfed by the scale of Chinese-operated sites, where zinc-roofed dormitories house workers guarding the perimeter.
Protests, residents say, have been ignored.
While Indonesian authorities have stepped up enforcement by creating a special law enforcement arm in the minerals ministry and cracking down on cyanide smuggling rings, prosecutions remain rare and bribery has hampered cases.
In one instance, a large Chinese-run mine in Kalimantan employing 80 workers led to trials, but all of the defendants were acquitted in a decision later linked to judicial misconduct.
The investigation further revealed that shadow networks span from Southeast Asia to South America and across Africa. Operators are stepping into artisanal and small-scale gold mining (ASGM) with industrial equipment, advanced geological data and cash, and in many cases, they are extracting gold without permits and ignoring environmental rules.
Experts say the surge in illicit gold mining is linked to China’s long-term strategy to reduce reliance on the US dollar, shield itself from possible sanctions and secure commodities it views as strategically vital.
A growing criminal nexus
The United Nations Office on Drugs and Crime warned in May that organized crime is embedding itself so deeply in gold supply chains that the trade now poses a “serious global threat.” Criminal groups, including drug cartels, terrorist networks and mercenary outfits, are increasingly getting involved, often in partnership with Chinese-linked operators that have the resources and connections to penetrate previously untapped deposits.
Unlike traditional artisanal miners, the Post indicates that these syndicates operate at near-industrial scale, but without environmental or safety safeguards. In many regions, they are shifting from mercury to cyanide in gold processing, a more efficient method, but one that is even more hazardous to surrounding communities if left unchecked.
China has been among the world’s top gold buyers for over a decade, but analysts speculate that the true size of its reserves remains a mystery and may be far higher than reported publicly.
Jan Nieuwenhuijs, a gold analyst at Money Metals, estimates that in 2024 alone, the Chinese central bank covertly purchased 570 metric tons— more than double its declared figure. The scale of buying, Nieuwenhuijs told the Post, is changing the gold market because Beijing sees the metal as an “alternative to the dollar.”
While Chinese officials insist their gold import and export data is “open and transparent,” researchers warn that secrecy surrounding state holdings makes it easier for illicitly mined gold to enter the system undetected.
Globally, the illicit gold sector is valued at more than US$30 billion a year, according to conservative estimates. A 2024 study by nonprofit Swissaid found gold smuggling out of Africa doubled between 2012 and 2022.
Once refined, illegal gold is virtually indistinguishable from legally mined metal, making it attractive to major buyers.
A global pattern and calls for coordinated action
As mentioned, the same dynamics are playing out far from Indonesia.
In Brazil, President Luiz Inácio Lula da Silva has made eliminating illegal mining from Indigenous lands a central pledge since returning to office in 2023. Raids by environmental agency Ibama have targeted the Yanomami and Munduruku territories, where mining has caused severe deforestation, mercury contamination and health crises.
New regulations now require electronic invoices for gold trades in an attempt to reduce laundering of illegal metal.
Yet the profits remain irresistible. The World Gold Council estimates that ASGM now accounts for about 20 percent of global gold production, up from around 4 percent in the 1990s, when the price was near US$250 an ounce. The gold price has risen as high as US$3,500 this year, and is currently priced at the US$3,350 level.
Dominic Raab, former UK deputy prime minister and now head of global affairs for Appian Capital Advisory, told S&P Global that a high gold price is tempting for illegal operators. “If the price goes up … criminal organizations have looked at diversifying into gold. It’s easy to melt down. It’s easy to smuggle. It’s pretty tough to track," he said.
In November 2024, Raab partnered with the World Gold Council to publish "Silence is Golden," a report on how criminal gangs, armed groups and corrupt officials exploit ASGM to fund wars, terrorism and organized crime.
The report identifies three fundamental challenges: lack of transparency in business and government compliance with legal standards; failures of accountability; and disjointed enforcement across jurisdictions.
It then outlines 24 practical actions for governments, international organizations, NGOs and the mining sector, ranging from prosecuting offenders to sustaining a coordinated G7 and G20 response.
However, not all ASGM is illegal, as some miners are seeking to adopt safer, mercury-free techniques.
As the gold price remains high, demand from buyers like China will keep fueling the trade.
The challenge, according to market participants, is to channel ASGM into regulated, sustainable frameworks before criminal networks entrench themselves further.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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12 August
Grande Portage Submits Special Use Permit Application for Environmental Infrastructure at the New Amalga Gold Project
Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that it has applied to the US Forest Service (USFS) for a Special Use Permit related to its New Amalga Gold project in Southeast Alaska.
The application covers the installation of infrastructure & equipment related to environmental studies and monitoring, including:
- An environmental data collection station at the potential location of the mine's surface facilities to collect key meteorological data and inform project development decisions as well as future application for an Alaska Department of Conservation Air Quality Control permit and Alaska Pollutant Discharge Elimination System (APDES) permit.
- Additional meteorological monitoring equipment above the potential future location of underground workings.
- Stream gauging sensors to understand seasonal fluctuations in river levels and support design of a mine water treatment and handling system which is protective of fish habitat.
- Satellite uplink communications and power infrastructure necessary for system operation.
This infrastructure is intended to be utilized not only for preliminary environmental studies but also for ongoing monitoring during construction, operations, and closure of the potential mine facility.
Ian Klassen, President and CEO comments: "The submission of the Special Use Permit application is a key step towards gathering all the data necessary to design and permit a low-footprint mining operation which is protective of the surrounding environment. Installation of this equipment is also a milestone as the first instance of developing long-term infrastructure at the project site that could be utilized throughout construction, operation and closure of a future mine."
The Company has also conducted contracted fieldwork over the preceding two months which includes identification of fish-habitat streams and mapping of aquatic resources in the project vicinity as well as delineation of wetlands around the potential areas of mine surface infrastructure development. This new data is now being incorporated into the design and layout of the mine facilities to ensure protection of fish habitat, maintain integrity of wetlands, and minimize overall ecological footprint which will help facilitate the future environmental review and permitting process for the project.
The facilities at the project site are not planned to include an ore processing plant. Due to the resource location near tidewater and less than 4 miles (6.5km) from existing paved highway (Fig. 1), the Company considers off-site processing by a third party to be the most favorable configuration for the project. This setup provides several potential benefits:
- Eliminates the need to build a concentrator, minimizing mine footprint, power requirements and reducing project construction CAPEX.
- Eliminates the need to develop a tailings disposal facility at the site, as no tailings would be generated.
- No permanent waste rock storage facilities. Waste rock generated from mine development would be returned to the underground workings for permanent disposal as stope backfill.
- No use of chemical reagents for gold processing at the site.
- Dramatically reduces land usage and overall environmental footprint.
- Greatly facilitates post-mining closure and reclamation.
- Simplifies the environmental review and permitting process.
Fig. 1: Location of the New Amalga Gold 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
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