Rimfire Pacific Mining (ASX: RIM, “Rimfire”) is pleased to announce a maiden scandium Mineral Resource estimate for the Melrose and the northern portion of the Murga area (“Murga North”) prospects, together with an additional Exploration Target for the broader Murga area (excluding Murga North) which are located at Fifield 70 kilometres northwest of Parkes in central NSW (Figure 1).
Highlights
Commenting on the announcement, Rimfire’s Managing Director Mr David Hutton said: “Declaring maiden Scandium Mineral Resources for Melrose and Murga North is an important first step in achieving our objective of building a globally significant scandium resource inventory at Fifield.
An accompanying Exploration Target for the broader Murga area also highlights the excellent potential to build upon the maiden Mineral Resources (See Cautionary Statement below)”.
Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Figure 1: Location of Melrose and Murga prospects
Resource Estimate Details
H&S Consultants Pty Ltd (HSC) were engaged by Rimfire to undertake a Mineral Resource Estimate for the Melrose and Murga North Scandium Prospects. The Mineral Resources are reported in accordance with the 2012 JORC Code and Guidelines using a 100ppm scandium cutoff grade (see Tables 1 – 2).
Material Information Used to estimate the Mineral Resources is given in Appendix One and Table 1 (Sections 1 to 3) of this ASX Announcement.
Melrose Scandium Deposit Mineral Resource Estimate (100ppm Sc cut-off grade). *Sc tonnage multiplied by 1.53 to convert to Sc2O3. Table includes minor rounding errors.
Figure 2: Scandium Block Grade Distribution for the Melrose Mineral Resources with drillhole collars in green
Murga North Scandium Deposit Mineral Resource Estimate (100ppm Sc cut-off grade).*Sc tonnage multiplied by 1.53 to convert to Sc2O3.
Figure 3: Scandium Block Grade Distribution for the Murga Mineral Resources with drillhole collars in green
In addition, HSC also defined an Exploration Target for the broader Murga area (excluding the Murga North Mineral Resource).
It is based on an outline of the scandium-bearing pyroxenite interpreted from aeromagnetic data and results of Rimfire’s 2024 reconnaissance aircore drilling (on nominal 400m x 400m centres) throughout the Murga area.
The boundaries of the Exploration Target are shown in Figure 4 and an average thickness of 15 metres has been assumed along with a default density of 2.15t/m3. However, it is unknown at this stage if the whole outlined area will have reasonable prospects for eventual extraction so it has been assumed that only 50% of the area within the pyroxenite outline will be classified as the Exploration Target.
The Exploration Target for the broader Murga area is: 100 to 200Mt at 100 to 200ppm Sc
Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Click here for the Investor Presentation
Click here for the full ASX Release
This article includes content from Rimfire Pacific Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Beyond Oil Ltd. (CSE:BOIL)(OTCQB:BEOLF)) ("Beyond Oil" or the "Company"), a food-tech innovation company reducing health risks, extending the life of frying oil, reducing costs and waste, and contributing to the environment, is pleased to announce that it has been featured in a television broadcast on August 22, 2024, on Israel's National Public Broadcast Network ("Kan 11").
Nov Reuveni, the health reporter for Kan 11, noted that the public is generally aware deep fried food is not healthy, but they are not aware that the oil itself is the culprit: "What seemed until recently to be impossible, now becomes very simple. And it seems that it is only a matter of time until a cleaner and much less harmful oil becomes the standard."
Founder and President Michael Pinhas Or demonstrates the filtration capabilities of Beyond Oil's product
Michael Pinhas Or, President of Beyond Oil, comments, "We are so pleased to be featured by Israel's National Public Broadcast Network as we continue to work tirelessly to demonstrate Beyond Oil's benefits to global health, environmental stewardship, and cost savings. Fried food in refrying oil remains popular all across the world, and in the United States alone, as many as one in three Americans eat fast food at least once per day.¹ Our team will continue to strive to help reduce certain health ailments for children and adults alike in the coming years by removing toxins from the frying oil."
About Beyond Oil Ltd.
Beyond Oil is a health food-tech company specializing in the health sector. Over the course of 15 years, it has developed a formula comprised of food additives that create an innovative filter powder, protected by a patent. This formula effectively absorbs degradation components from fried oil, slows down the rate of deterioration reactions, and, through a straightforward filtration process, enables the oil to be reused while preserving its quality. Beyond Oil's solution represents a significant global advancement in safeguarding the health of diners and kitchen workers in factories or restaurants that reuse the same oil over an extended period. The integration of Beyond Oil technology in restaurants, hotels, caterers, and factory operations not only enhances public health, social responsibility, efficiency and cost-effectiveness but also represents a significant step towards a more sustainable future for the food industry. By mitigating pollution, conserving resources, and promoting responsible practices, Beyond Oil strives for environmental stewardship within the culinary landscape. For more information, visit our website at: www.beyondoil.co.
Contacts
Jonathan Or
CEO and Co-founder
info@beyondoil.co
Caroline Sawamoto
Investor Relations
1-647-691-9801
ir@beyondoil.co
¹ Mayo Clinic Website: https://newsnetwork.mayoclinic.org/discussion/mayo-clinic-minute-why-eating-too-many-fried-foods-could-lead-to-early-death/
Forward-Looking Statement and Information
The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" within the meaning of the securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will be issued as a result of a pending patent application or, if issued, whether it will be issued in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time at sedarplus.ca. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third-party websites.
Black Sea Asset Drives Significant Gas Revenue Growth as Company Prepares for Velocity String Installation
Trillion Energy International Inc. (" Trillion " or the "Company ") (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide this production update for oil and gas fields, highlighting robust performance and strategic developments.
During the month of August, the 100% gas production from SASB was about 133.13 MMcf giving a gross total of US$1,456,400 and a Trillion 49% value of US$713,640 with a realized Natural Gas price of about US$10.94. Trillion's gross oil revenue from Cendere is US$342,700. Trillion's total gross production revenue for August is US$1,056,340.
The gas revenue from SASB is 95% from Guluc-2 and South Akcakoca-2, both stabilized and 5% from West Akcakoca-1 which has not stabilized and produces intermittently. SASB's total average production for August was 4.6 MMcf/d. Akcakoca-3 well head pressure (WHP) has continued to increase to a current 583 psi compared to the initial WHP of 100 psi and early this week the well will be opened for a flow test.
Trillion Energy's August performance underscores the company's growing position in the European energy market. With the SASB gas field contributing significantly to revenue, Trillion is poised for future growth as it explores production optimization techniques. The potential installation of velocity string in the wells is expected to substantially increase gas production, mirroring the success of legacy wells that averaged 4.2 Bcf per well using 2 3/8" production tubing.
Trillion Energy is positioned to significantly enhance production through the installation of 2 3/8" velocity strings (VS), replacing the current 4 ½"tubing. This upgrade is expected to substantially increase gas flow rates. Everything is ready for changing out the production tubing from 4 ½" to 2 3/8" diameter tubing, velocity string installation (VS). To install the VS the wells have to be killed, but with the wells producing gas at these high daily rates killing the well is undesirable therefore the feasibility of installing the VS in a flowing well is being evaluated.
CEO Arthur Halleran stated:
"Trillion's August gross revenue of US$1.46 Million illustrates the future potential of increasing the monthly revenue once we have more than just two gas wells producing. The VS (2 3/8" production tubing) installation in all 6 wells will substantially increase the gas production at SASB. The 10 legacy wells at SASB between 2007 and 2021 produced a total of 42.19 Bcf of gas utilizing 2 3/8" production tubing, about 4.2 Bcf/well. We can expect the same with our wells once we put in the 2 3/8". Even with the 4 ½" production tubing we have produced 2.71 Bcf of gas from our 2022/23 wells. Our gas price is US$10.94/mcf whereas the Henry Hub Gas spot price is US$1.91."
About the Company
Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. The Company has a 50% interest in 3 oil exploration blocks in S.E. Türkiye. More information may be found on www.sedar.com , and our website.
Con tact
Arthur Halleran, Chief Executive Officer
Brian Park, Vice President of Finance
1-778-819-1585
e-mail: info@trillionenergy.com ;
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company's filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our reserves report effective December 31, 2022 and updated January 31 2023.
News Provided by GlobeNewswire via QuoteMedia
Trillion Energy International Inc. (" Trillion " or the "Company ") (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide this production update for the SASB gas field.
SASB revitalization program is off to a great start having realized the complete payback of recent perforation costs in just 35 days of production. In first phase of workover all remaining gas pay on the Akcakoca platform was perforated including three long reach deviated gas wells Guluc-2, South Akcakoca-2, West Akcakoca-1 wells and the recompleted legacy well Akcakoca-3, all drilled in the 2022/2023 program. The wells started production over a staggered period from July 9 to July 28 and have already produced 140MMcf representing a 35-day payoff of the recent perforation CAPEX.
South Akcakoca-2 has been producing for 36 days, stabilizing at approximately 2.75 MMcf/d. Guluc-2 has produced for over three weeks with an average production of 2.0 MMcf/d and now produces at a stable rate of about 1.25 MMcf/d. West Akcakoca-1 has produced an average of 0.60 MMcf/d for over two weeks with some irregularities and has not yet stabilized. Akcakoca-3 was perforated and although gas flow did not initially occur the well head pressure ("WHP") has steadily increased from 100 psi to 478 psi and is therefore anticipated to start producing soon.
Gas production from the Akcakoca Platform has averaged 4.6 MMcf/d since the perforation program concluded.
CEO Arthur Halleran stated:
"The wells on the Akcakoca Platform have been completed successfully with gas production and WHP continuing to increase. This early return on our investment is a clear indicator of the field's robust production potential. The results are very positive, giving us good indications that decreasing the production tubing size from 4 ½" to 2 3/8" using velocity strings, should stabilize gas production at the targeted rates."
Trillion also announces that the Board of Directors of the Company has authorized the granting of stock options under its Stock Option Plan to purchase 8,800,000 common shares of the Company at an exercise price of $0.14 per share for a five-year term expiring August 12, 2029. The stock options are being granted to certain directors, officers, employees and consultants of the Company.
About the Company
Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. The Company has a 50% interest in 3 oil exploration blocks in S.E. Türkiye. More information may be found on www.sedar.com , and our website.
Con tact
Arthur Halleran, Chief Executive Officer
Brian Park, Vice President of Finance
1-778-819-1585
e-mail: info@trillionenergy.com ;
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company's filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our reserves report effective December 31, 2022 and updated January 31 2023.
News Provided by GlobeNewswire via QuoteMedia
Augustus Minerals has received new assays from ongoing field work and rock chip sampling programs conducted on the new Nero prospect at the Ti-Tree Project.
Mapping and field work is continuing to identify suitable drilling platforms for future programs to be conducted.
Figure 1 Prospects and VTEM Survey areas
New Nero Prospect
Mapping along structures 3.7km along strike northeast of Claudius (6.6% Cu, 86ppm Ag1) (Figure 1) has identified a new mineralised zone associated with quartz veining, malachite (secondary copper carbonate mineral) and iron oxide after weathered sulphide minerals.
Figure 2 Location of the new Nero Prospect in relation to the tenement geology and Claudius and Nero prospects
The new “Nero” zone, defined by 24 rock chips, has a strike length of 1.1km with copper grades up to 3.1% and silver grade up to 11g/t (figure 2).
The mineralised zone is comprised of multiple gossanous quartz veins which cut both the Moorarie Supersuite granites and later Mundine Well Dolerite dykes in a north to northeasterly direction (Figures 2 and 3). Often the quartz veins, which are up to 5m wide strike almost north-south, oblique to the northeasterly strike of the shear/fault zone. The mineralised veins are within the dolerite in the south of the prospect but trend to the east into the surrounding granite towards the north.
Copper was elevated over the entire length of the structural zone with 17 of the 24 samples assaying >0.1% Cu, and five samples >1% Cu with a maximum of 3.1% Cu from sample WA001357 (Figure 4). Along with elevated Cu assays, Nero contains silver to 11g/t and elevated levels of gold (0.10g/t Au in WA001336) (Table 1 and Table 2).
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Highlights
Peter Harold, Managing Director and CEO commented“the discovery of tungsten at Western Queen has demonstrated the huge optionality that we have in our extensive tenement portfolio. The assay results from the 2021 drill pulp samples have confirmed that we have made a significant tungsten discovery at Western Queen. This is brilliant work by our exploration team and we look forward to receiving further assays from the substantial amount of existing drill core and pulps. Best case scenario, positive results from this future analysis could allow us to calculate a resource without any additional drilling.
Whilst the tungsten is a great new discovery, we already have substantial gold resources at Western Queen on a granted Mining Leases within trucking distance of a number of mills. Our primary focus is therefore to monetise these resources in the near term.”
Western Queen Tungsten Discovery
Tungsten (W) laboratory assays have been received for selected pulp samples from an initial seven holes of previous RC drilling completed by the Company in 2021 as part of the Western Queen gold resource drill program. The initial seven holes were selected based on appropriate spatial coverage across the 900m strike length of high tenor
>1000ppm W in pXRF (refer Figure 1) and having at least one sample in the hole greater than 5000ppm W in the pXRF database.
Significant intersections from the pulp samples include 12m @ 0.56% WO3, 0.46g/t Au from 69m, with the higher grade section of 2m @ 2.48% WO3 and 0.12g/t Au from 70m in WQRC032, 12m @ 0.34% WO3 and 3.22g/t Au from 202m, with a higher grade section of 7m @ 0.49% WO3 and 4.71g/t Au from 206m in WQRC178, 9m @ 0.22% WO3 plus 0.35g/t Au from 76m with a higher grade section of 2m @ 0.75% WO3 and 0.48g/t Au from 81m in WQRC178 and 5m @ 0.31% WO3, 0.31g/t Au from 220m in WQRC176( refer to Figure 1 and Table 1).
The significant intersections from the seven holes of pulp samples complement the previously reported tungsten mineralisation within drillhole WQDD013 (Refer to Rumble Resources Limited ASX announcement High-grade Tungsten Discovery at Western Queen 6 August 2024) which returned a spectacular intersection of 4.05m @ 4.58% WO3, 0.72 g/t Au from 174.85m; including 2.05m @ 8.71% WO3, 1.38 g/t Au from 176.85m; including 0.65m @ 18.35% WO3, 2.97 g/t Au from 176.85m(refer to Figure 2).
Figure 1 - Western Queen Project – Plan highlighting contoured maximum pXRF W in drill holes and location and intercepts of significant W intersections from pulp samples and WQDD013.
Encouragingly, all seven holes of pulps samples returned significant intercepts grading greater than 0.1% WO3. While geological investigations are preliminary, the tungsten mineralisation contains large aggregates of scheelite grains (up to 5mm) occurring parallel to the main foliation trend. The mineralisation is essentially multiple scheelite-pyroxene (tremolite)+/-gold endoskarn zones associated with the Western Queen orogenic shear zone (host to gold mineralisation) within dominant Archaean mafic amphibolite lithologies. Tungsten mineralisation occurs spatially proximal to gold mineralisation, however high-grade tungsten mineralisation does not always corelate with high-grade gold mineralisation The skarn development is thought to have been a later stage to the main gold event at Western Queen.
Click here for the full ASX Release
This article includes content from Rumble Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.