The Conversation (0)
(TheNewswire)
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JZR Gold Inc. possesses a 50% net profit interest (the “NPI”) in all profit generated from the Vila Nova Project.
For further information, please contact:
Robert Klenk
Chief Executive Officer
E: rob@jazzresources.ca
T: 604.329.9092
Forward-Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward-looking statements in this news release include statements with respect to commencement of preparation work on the Vila Nova Project and the expected operation of the gravimetric mill on the Vila Nova property. Forward-looking information reflects the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mineral exploration industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with the specifications or expectations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action and unanticipated events related to health, safety and environmental matters); risks related to adverse weather conditions; geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with the Canadian securities regulators. The forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
JZR:CA
JZR Gold Investor Kit
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JZR Gold
Overview
Artisanal and small-scale mining (ASM) in Brazil is an important part of the country’s economy and culture. Dating as far back as the 17th century, the ASM sector provides livelihood for more than 450,000 traditional ASM miners and their communities.
A significant portion of the ASM sector in Brazil is gold mining, and one exploration company poised to benefit from artisanal gold stockpiles in the country is JZR Gold (TSXV: JZR.V). The company has completed the assembly of a bulk sampling facility at its Vila Nova Gold project and is now advancing toward near-term cash flow.
Vila Nova Gold is the company’s flagship project located in the state of Amapá in Brazil. JZR Gold acquired the Vila Nova Gold project in January 2021 and all of Coltan Gold Minerals’ interest in and to a joint venture royalty agreement between Eco Mining Oil & Gaz Drilling and Exploration EIRELI and Coltan Gold Minerals.
In June 2021, JZR Gold reported significant gold results from sampling waste dumps and tailings at the Vila Nova Gold project. The geological report concluded the project contains gold estimates as high as 9 million tonnes with grades averaging 2.7 g/t. The total estimated gold content on the Vila Nova Gold project is a valuable 700,000 ounces in the 111.7-hectare area that was sampled. This flagship asset has significant upside potential based on tailings expansion and ongoing hard rock drilling.
In Canada, JZR Gold also owns interests in the Teddy Glacier property and the Spider mine in British Columbia.
The company is in a strong position to produce profitable gold in the future. In April 2022, through contractor Brastorno Tecnologia em Equipamentos Para Mineracao, JZR Gold completed the assembly of its Gravimetric plant, a bulk sampling facility at the Vila Nova Gold project. The company has since commenced the operation of the 800-tonne-per-day bulk sampling gravimetric mill. The company is fully permitted to bulk sample up to 600,000 tonnes per year in Brazil.
JZR entered into a joint venture royalty agreement (JVRA) with ECO Mining Oil & Gaz Drilling and Exploration (EIRELI) (ECO) on July 6, 2020, for its Vila Nova gold project. JZR has satisfied all its responsibilities under the JVRA and has acquired a 50 percent net profit interest from all net profit generated from the project. ECO is entitled to 85 percent of the total sale value of all gold derived from the tailings piles, dams, pond basins and waste reservoir on the property.
JZR Gold values transparency and adherence to local laws and has ensured that all work conducted on the Vila Nova Gold project is conducted with sensitivity to the environment and within ESG parameters.
Company Highlights
- Its flagship Vila Nova Gold project is located in the state of Amapá in Brazil. The company also owns interests in the Teddy Glacier property and the Spider mine in the province of British Columbia in Canada.
- The Vila Nova Gold project contains gold estimates as high as 9 million tonnes with grades averaging 2.7 grams per ton (g/t). The total estimated gold content on the Vila Nova Gold project is a valuable 756,000 ounces in the 111.7-hectare area that was sampled.
- JZR Gold is led by an experienced management team including the co-founder of HealthTech Connex Inc.
- JZR Gold commenced the operation of the 800-tonne-per-day bulk sampling gravimetric mill located at the Vila Nova Gold Project, creating near-term cash flow for the company.JZR has satisfied all its obligations under its joint venture royalty agreement with ECO and has acquired a 50 percent net profit interest in the Vila Nova Gold Project.
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JZR Gold Announces Private Placement Offering Of Units To Raise Up To $750,000
(TheNewswire)
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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART,
IN OR INTO THE UNITED STATES.
Vancouver, British Columbia, Canada September 27, 2024 TheNewswire JZR Gold Inc. (the " Company " or " JZR ") ( TSX-V: JZR ) is pleased to announce that it intends to undertake a non-brokered private placement offering (the " Offering ") of up to 5,000,000 units (each, a " Unit ") at a price of $0.15 per Unit, to raise aggregate gross proceeds of up to $750,000. Each Unit will be comprised of one common share (each, a " Share ") and one share purchase warrant (each, a " Warrant "). Each Warrant will entitle the holder to acquire one additional common share (each, a " Warrant Share ") in the capital of the Company at an exercise price of $0.20 per Warrant Share for a period of thirty-six (36) months after the closing of the Offering.
The Units will be offered pursuant to available prospectus exemptions set out under applicable securities laws and instruments, including National Instrument 45-106 – Prospectus Exemptions. The Offering will also be made available to existing shareholders of the Company who, as of the close of business on September 24, 2024, held common shares (and who continue to hold such common shares as of the closing date), pursuant to the existing shareholder exemption set out in BC Instrument 45-534 Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the " Existing Securityholder Exemption ") . The Existing Securityholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption which exceeds the maximum amount of the Offering, the Company intends to adjust the subscriptions received on a pro-rata basis.
Certain Insiders (as such term is defined under the policies of the TSX Venture Exchange (the " Exchange ")) of the Company may participate in the Offering. Any participation of Insiders in the Offering will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Offering by Insiders will not exceed 25% of the fair market value of the Company's market capitalization.
The Offering may close in one or more tranches, as subscriptions are received. The Securities will be subject to a hold period of four months and one day from the date of issuance. Closing of the Offering, which is expected to occur on or about October 4, 2024, will be subject to satisfaction of certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including approval by the Exchange.
The Company intends to use the net proceeds from the Offering to prepare and commence operation of the gravimetric processing mill that was constructed on the Vila Nova gold project located in the state of Amapa, Brazil, and for general working capital purposes.
For further information, please contact:
Robert Klenk
Chief Executive Officer
rob@jazzresources.ca
Forward-Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward-looking statements in this news release include statements with respect to the details of the Offering, including the anticipated use of the net proceeds. Forward-looking information reflects the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mineral exploration industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with the specifications or expectations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action and unanticipated events related to health, safety and environmental matters); risks related to adverse weather conditions; geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with the Canadian securities regulators. The forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
JZR Gold Announces Closing Of Non-Brokered Private Placement Offering Of Convertible Debentures
(TheNewswire)
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Vancouver, British Columbia, Canada September 10, 2024 TheNewswire JZR Gold Inc. (the " Company " or " JZR ") ( TSX-V: JZR ) is pleased to announce that further to news releases dated June 21, 2024, July 22, 2024, and August 16, 2024, that it has closed the second and final tranche of the previously announced non-brokered private placement offering (the " Offering ") of unsecured convertible debentures (the " Debentures "). The Company requested and received acceptance from the TSX Venture Exchange (the " Exchange ") to increase the Offering to up to CAD$2 million. The principal sum of Debentures issued in the second tranche totals $480,000, for total gross proceeds from the Offering of $1,980,000.
The Debentures will mature on the date that is one (1) year from the date of issuance (the " Maturity Date ") and shall bear simple interest at a rate of 10% per annum, payable on the Maturity Date. The principal sum of the Debentures, or any portion thereof, and any interest may be converted into units (the " Units ") of the Company at a conversion price of $0.20 per Unit. Each Unit shall be comprised of one common share (a " Conversion Share ") and one share purchase warrant (a " Warrant "). Each Warrant shall entitle the holder to acquire one additional common share (a " Warrant Share ") in the capital of the Company at a price of $0.25 per share for a period of twenty-four (24) months from the date that the Warrants are issued.
The Debentures, Units, Conversion Shares, Warrants and Warrant Shars are collectively referred to herein as the " Securities ". In connection with the second tranche of the Offering, the Company paid cash finder's fees of $14,700 and issued 73,500 non-transferable broker warrants being 6% of the gross proceeds raised from persons introduced by the finder. The broker warrants have an exercise price of $0.20 with an expiry date of three (3) years from the date of issuance. Other than the exercise price and expiry date, the Finders' Warrants shall otherwise be on the same terms as the Warrants.
All Debentures issued pursuant to the Offering, including any securities into which they may be exercised or converted, are subject to a statutory hold period of four months and one day from the date of issuance thereof. The Offering is subject to final acceptance by the Exchange.
The Company intends to use the net proceeds of the Offering to: (i) fund operations of the fully constructed 800 tonne-per-day gravimetric mill, as well as future exploration work on the Vila Nova Gold project located in Amapa State, Brazil (the " Vila Nova Project "), (ii) to pay certain liabilities owed to arm's length parties and (iii) for general working capital purposes. The Company may fund operations on the Vila Nova Gold project by advancing fu nds, by way of one or more loans, to ECO Mining Oil & Gaz Drilling and Exploration (EIRELI) (" ECO "), as operator of the Vila Nova Project. The Company possesses a 50% net profit interest from all net profit generated from the Vila Nova Project.
For further information, please contact:
Robert Klenk
Chief Executive Officer
E: rob@jazzresources.ca
T: 604.329.9092
Forward-Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward-looking statements in this news release include statements with respect to respect to the details of the Offering, including the proposed size, timing and the anticipated use of net proceeds, the receipt of regulatory approval for the Offering, the potential loan of funds to ECO and the expected operation of the gravimetric mill on the Vila Nova property. Forward-looking information reflects the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mineral exploration industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with the specifications or expectations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action and unanticipated events related to health, safety and environmental matters); risks related to adverse weather conditions; geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with the Canadian securities regulators. The forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
JZR Gold Extends Deadline to Close Non-Brokered Private Placement Offering of Convertible Debentures
(TheNewswire)
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August 16, 2024 TheNewswire Vancouver, British Columbia, Canada JZR Gold Inc. (the " Company " or " JZR ") ( TSX-V: JZR ) announces that it has requested and has received acceptance from the TSX Venture Exchange (the " Exchange ") to extend the deadline to complete its previously announced non-brokered private placement offering (the " Offering ") of unsecured convertible debentures (the " Debentures ") to raise gross proceeds of up to $1,500,000, which was subsequently increased to $1,700,000. On July 22, 2024, the Company announced that it had closed a first tranche of the Offering and issued Debentures in the aggregate principal amount of $1,500,000. The Offering was announced on June 21, 2024, and the initial deadline to complete the Offering was August 5, 2024. Pursuant to the extension granted by the Exchange, the deadline to close the Offering is September 5, 2024.
The Debentures will mature on the date that is one (1) year from the date of issuance (the " Maturity Date ") and shall bear simple interest at a rate of 10% per annum, payable on the Maturity Date. The principal sum of the Debentures, or any portion thereof, and any interest may be converted into units (the " Units ") of the Company at a conversion price of $0.20 per Unit. Each Unit shall be comprised of one common share (a " Conversion Share ") and one share purchase warrant (a " Warrant "). Each Warrant shall entitle the holder to acquire one additional common share (a " Warrant Share ") in the capital of the Company at a price of $0.25 per share for a period of twenty-four (24) months from the date that the Warrants are issued.
The Debentures, Units, Conversion Shares, Warrants and Warrant Shars are collectively referred to herein as the " Securities ". No finder's fees were paid in connection with the closing of the first tranche of the Offering.
All Debentures issued pursuant to the Offering, including any securities into which they may be exercised or converted, are subject to a statutory hold period of four months and one day from the date of issuance thereof. The Offering is subject to final acceptance by the Exchange.
The Company intends to use the net proceeds of the Offering to: (i) fund operations of the fully constructed 800 tonne-per-day gravimetric mill, as well as future exploration work on the Vila Nova Gold project located in Amapa State, Brazil (the " Vila Nova Project "), (ii) to pay certain liabilities owed to arm's length parties and (iii) for general working capital purposes. The Company may fund operations on the Vila Nova Gold project by advancing fu nds, by way of one or more loans, to ECO Mining Oil & Gaz Drilling and Exploration (EIRELI) (" ECO "), as operator of the Vila Nova Project. Net proceeds will also be used for general working capital purposes. The Company possesses a 50% net profit interest from all net profit generated from the Vila Nova Project.
For further information, please contact:
Robert Klenk
Chief Executive Officer
E: rob@jazzresources.ca
T: 604.329.9092
Forward-Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward-looking statements in this news release include statements with respect to respect to the details of the Offering, including the proposed size, timing and the anticipated use of net proceeds, the receipt of regulatory approval for the Offering, the potential loan of funds to ECO and the expected operation of the gravimetric mill on the Vila Nova property. Forward-looking information reflects the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mineral exploration industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with the specifications or expectations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action and unanticipated events related to health, safety and environmental matters); risks related to adverse weather conditions; geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with the Canadian securities regulators. The forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
JZR Gold Announces Private Placement Offering of Units to Raise Up to $1,000,000
(TheNewswire)
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JZR Gold Inc. (TSXV:JZR) (OTC:JZRIF) (the " Company " or " JZR ") is pleased to announce that it intends to undertake a non-brokered private placement offering (the " Offering ") of up to 5,000,000 units (each, a " Unit ") at a price of $0.20 per Unit, to raise aggregate gross proceeds of up to $1,000,000. Each Unit will be comprised of one common share (each, a " Share ") and one share purchase warrant (each, a " Warrant "). Each Warrant will entitle the holder to acquire one additional common share (each, a " Warrant Share ") in the capital of the Company at an exercise price of $0.30 per Warrant Share for a period of nine (9) months after the closing of the Offering
News Provided by TheNewsWire via QuoteMedia
TEM | Yalgoo Update - Further Excellent Iron Results
Key Points
- Additional high-grade magnetite iron intercepted in RC drilling
- Consistent intercepts over >2 km of drilled strike length
- Identical outcropping geology mapped over a 5 km total strike length
- Potential for a large-scale iron ore deposit nearby other world-class processing facilities
Remorse Target
High-grade iron
In addition to the lab results for the first drillhole previously reported 1, the Company is pleased to announce the completion of drilling and that follow-up results in subsequent drillholes confirm the presence of high-grade iron at the Remorse Target. New results include:
WARDH00180 16m @ 32.6% Fe from 93m (pXRF)
WARDH00169 20m @ 32.3% Fe from 120m (pXRF)
and 11m @ 30.8% Fe from 182m (pXRF)
WARDH00166 7m @ 32.8% Fe from 96m (Lab)
WARDH00171 8m @ 30.1% Fe from 130m (pXRF)
* Portable XRF (pxrf) results are not comparable in reliability to authorised laboratory results and should be not relied on for quantitative purposes outside indicative demonstrations of potential order of magnitude of enrichments.
Background
TEM has completed the first phase of RC drilling at the Remorse Target of its flagship Yalgoo Project. In total, 21 RC holes were drilled for 4,005m. Samples have been Boxscanned (pXRF) and submitted to the lab and final assay results are expected in December 2024.
The previously reported iron intercept from the first hole drilled at Remorse was WARDH00160 of 32m @ 30.0% Fe from 96m (including 7m @ 37% Fe) (Lab).
The Remorse Target is part of Tempest's broader Yalgoo Project which spans over 1,000 square kilometres of prospective terrain for base metals, precious metals and iron ore.
Figure 01: Section through iron mineralisation WARDH00180
Figure 02: Section through iron mineralisation WARDH00169 and WARDH00163-165.
All samples collected have been analysed using a Boxscan unit which includes a mounted portable X-ray fluorescence (pXRF). Although not as accurate as laboratory analysis, pXRF data when collected in a quality and consistent manner can also exhibit high accuracy and precision. The pXRF data has been compared with assays received to date (>800 samples) and has an average variance of -4.2% and a median of -4.3%. The results indicate the accuracy is considered acceptable for current exploration reporting purposes (and potentially an overall slight underestimation by pXRF).
Remaining assay results are due in December and are expected to correlate strongly with the pxrf results announced.
As previously advised, the drill program design was focused on the strong base metal geochemical anomaly exhibited at the Remorse Target 2. The planned holes were focused strongly on testing the 'hanging wall' stratigraphy at Remorse and were not initially focused on the newly identified iron layer. However, the program did result in the 4 most northerly drill holes intercepting the main magnetite layer and numerous holes intercepting adjacent magnetite-rich layers.
The widely spaced drilling shows continuity and consistency over more than 2 kilometres and identical iron-rich stratigraphy outcrops can be traced over an extensive 5-kilometre zone correlating with the original Remorse Target footprint.
Click here for the full ASX Release
This article includes content from Tempest Minerals 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.
Brunswick Exploration
Investor Insight
With multiple significant lithium discoveries under its belt and a proven exploration strategy that yields results, Brunswick Exploration makes a compelling investment proposition in the ever- expanding lithium space.
Overview
Brunswick Exploration (TSXV:BRW,OTCQB:BRWXF,1XQ:FF) is among the only public companies aggressively and systematically conducting grassroots exploration for lithium in Canada and Greenland using state-of-the-art exploration technology to identify high-potential targets. Specifically, the company has staked major under-explored pegmatite fields across Quebec, Newfoundland and Labrador, Nova Scotia, New Brunswick, Ontario, Manitoba, Saskatchewan and Greenland.
Brunswick Exploration’s team of geologists begins by compiling available data and conducting research to identify locations where they believe the potential for minerals of interest might be
found. The technical field team is dispatched to conduct a prospecting program by gathering robust observational data using tried-and-true field geology techniques. The goal of the program is to reveal the presence of mineralization that may predict the presence of an unknown mineral deposit.
The company's exploration team is guided by its executive chairman Robert Wares, who co- founded the original Osisko Mining and was responsible for discovering the Canadian Malartic bulk tonnage gold mine. That mine was subsequently developed by Osisko into one of Canada's largest gold producers. Wares is an established and award-winning professional geologist with over 40 years of experience in mineral exploration and development.
Brunswick Exploration has identified five high-priority projects in the Eeyou Istchee-James Bay region of Quebec: Mirage, Elrond, Anatacau, PLEX and Mythril. In 2023, grassroots lithium discoveries were made at Mirage, Elrond and Anatacau, which are currently the focus of drilling.
In 2024, Brunswick Exploration successfully discovered Greenland’s first lithium-bearing spodumene pegmatitewithin the Ivisaartoq pegmatite field covered by the company’s Nuuk license. The Ivisaartoq pegmatite field is Mesoarchean in age and contains amphibolites, metasediments, ultramafics, gneiss, gabbros, granites and pegmatites. Following this discovery, the company is now seeking to expand its licence in the the Nuuk area, and has acquired new landholding in new regions in Western Greenland.
Company Highlights
- Brunswick Exploration (BRW) is a Montreal-based mineral exploration company listed on the TSXV under symbol BRW. The company is focused on grassroots exploration for lithium in Canada and Greenland, a critical metal necessary to global decarbonization and energy transition.
- This has generated one of the largest grassroots lithium portfolios globally.
- BRW's board includes Robert Wares, one of the founders of Osisko Mining.
- BRW was recognized as one of the Top 50 TSX Venture listed companies in 2023.
- The company has staked hundreds of untested prospective pegmatites measuring a minimum strike length of 500 meters and within 50 kilometers of infrastructure.
- In 2023, three discoveries were made in the Eeyou Istchee-James Bay region of Quebec at the Mirage, Anatacau Main and Elrond projects.
- Sirios Resources signed an agreement with Brunswick Exploration granting it the right to purchase a 0.5 percent net smelter return (NSR) held by Sirios on eight claims that are part of Brunswick Exploration's Mirage lithium property located in Eeyou Istchee James Bay.
- In 2024, BRW announced a newly discovered pegmatite outcrop from its Nuuk License making it the first confirmed lithium discovery in Greenland.
Key Projects
Mirage Project
The Mirage project comprises 427 claims with a total surface area of 21,230 hectares (staked and optioned claims), located roughly 40 kilometers south of the Trans-Taiga Highway in Quebec’s James Bay region. Fruitful discussions with a geologist that worked the area twenty- five years ago for gold exploration led to the staking of the BRW claims, as he recorded the presence of several angular pegmatitic glacial boulders hosting well-defined, decimetric spodumene crystals. The largest observed boulder measured 8 meters by 4 meters by 3 meters. In the fall of 2023, BRW discovered several high grade spodumene outcrops over a 2.5 kilometer trend as well as an adjacent 3.0 kilometer spodumene boulder train that has different mineralogy than the discovered outcrops.
In 2023, BRW completed a 5,000-meter drill program at the Mirage project. Phase 1 of the 26- hole program, aimed to test the continuity and widths of the six widest spodumene-bearing pegmatite dykes that have been discovered to date on the property over a total cumulative strike length of 2,500 meters. Final drill results from the 2023 program at the Mirage project have outlined two new spodumene mineralized dykes (MR-5 and MR-6) with significant thickness and grade, all within the Central Zone. MR-23-28 intersected high-grade mineralization of 1.80 percent Li2O over 37.2 meters starting from surface in newly discovered dyke MR-6 located 500 metres northeast of MR-3. Evidence of potential stacking of dykes in Central Zone where MR-23-35 intercepted 11.5 meters grading 1.1 percent Li2O approximately 100 meters south of MR-3 in new dyke MR-5.
In H1 2024, a Phase II drilling campaign, containing 35 holes was completed at the Mirage project by targeting the extensions of known pegmatite dykes (MR-1 to MR-6) while new prospective outcrops have yet to be drill-tested. Results have generated up to 58.10 meters of 1.59 percent Li2O.
In 2024, Brunswick Exploration signed an agreement with Sirios Resources to repurchase an existing 0.5 percent NSR on certain claims within the Mirage project.
Elrond Project
The Elrond Project comprises 136 claims with a total area of 7,048 hectares, located roughly 12 kilometers east of the Billy Diamond Highway in Quebec’s James Bay region. Elrond is part of the Mythril option agreement with Midland Exploration whereby BRW can earn a maximum of 85 percent interest in the project.
In the fall of 2023, BRW uncovered a new, undocumented spodumene-bearing pegmatite, known as the Arwen showing, that is exposed over a surface area measuring approximately 250 meters by 100 meters, dipping very shallowly to the north. The pegmatite remains open in all directions.
The Arwen outcrop is well mineralized in spodumene throughout the showing with an apparent higher-grade zone, containing up to 30 percent spodumene, which has a visible extent of approximately 75 by 15 meters. The spodumene crystals are well formed and up to 30 centimeters in length with an off-white color and were confirmed through LIBS analysis and UV light.
In early 2024, the company completed a maiden drilling campaign at the Elrond project to test the Arwen spodumene-bearing pegmatite. The Arwen pegmatite is well mineralized and three representative grab samples returned values between 1 and 3 percent Li2O. A high-resolution airborne magnetic survey was flown in the fall of 2023 and suggests that the Arwen showing is emplaced in a favorable structural corridor that is 4 kilometers long and 500 meters wide. The target area is proximal to infrastructure, located approximately 12 kilometers from the Billy- Diamond Highway and drilling activities will be ground supported via a winter road.
Anatacau
Comprising the Anatacau Main and Anatacau West projects, these assets are under an option agreement with Osisko GP, a subsidiary of Osisko Development, under which Brunswick Exploration can earn a 90 percent interest in the projects. The Anatacau property is located just east of Arcadium’s (NYSE:ALTM) James Bay Lithium deposit (previously known as the Cyr deposit), which has a total mineral resource of 110.2 million tons (Mt) at 1.30 percent lithium oxide and a total ore reserve of 37.3 Mt at 1.27 percent lithium oxide.
BRW completed a maiden drill program at the Anatacau West property totalling 3,712 meters. 17 of the 18 drilled holes intersected spodumene mineralization that generated up to 26.5 metres at 1.51 percent Li2O.
In the summer of 2023, Brunswick discovered a significant lithium pegmatite outcrop, measuring at least 100 meters long by 15 meters wide known as the Anais showing in Anatacau Main. The outcrop is within a larger cluster of pegmatite dykes all of which contain high-grade lithium mineralization.
This discovery is located 22 kilometers east of Anatacau West and Arcadium’s James Bay project along a large-scale E-W deformation corridor which is host to the known lithium-bearing pegmatite dykes in the region.
BRW reported multiple high spodumene grain countson the Anatacau West property during a till sampling campaign undertaken in the summer of 2024. These highly encouraging results (up to 1,225 spodumene grains in a single sample) further reinforce lithium potential in the bedrock and delineate a new, highly prospective unexplored area at the Anatacau West property beyond the previously drilled pegmatites.
Greenland
Since its confirmation of Greenland’s lithium potential, Brunswick Exploration has a renewed focus on further strengthening its targets in Greenland. The company now controls one of the most significant grassroots exploration portfolios in the country and is the only company actively exploring for lithium in Greenland, according to president and CEO Killian Charles.
Nuuk Expansion
The Nuuk holdings host the new Ivisaartoq discovery within the Ivisaartoq belt. The company has applied to stake the adjacent Ujarassuit amphibolite belt that is up to 1 km in width and roughly 40 km in strike length. The company has also staked additional amphibolite belts within the Fiskefjord Complex, 95 kilometers north of Nuuk, and 75 kilometers southeast of the community of Maniitsoq. These belts are up to 4.5 km in width and 20 km in strike length. In total, the new claims contain hundreds of mapped and interpreted pegmatite outcrops including six that are between 500 and 2,000 meters in strike length for a total license expansion area of 33,138 hectares.
Disko Bay
The Disko Bay licenses are located roughly 30 to 80 km from the coastal city of Ilulissat, which is the third largest city in Greenland. The licenses are near multiple seaports and container terminals, including Ilulissat. The area is situated within the Aasiaat domain, part of the Paleoproterozoic Nagssugtoqidian Orogen, sandwiched to the south by the Archean North Atlantic Craton and to the north by the Archean Rae Craton. The Orogen extends west into the Trans-Hudson orogeny of Canada that continues to the lithium deposits near Snow Lake Manitoba and the Black Hills of South Dakota.
Multiple amphibolite and metasedimentary belts were acquired with some belts being over 20 km in strike length. The new claims have hundreds of mapped and interpreted pegmatite targets with a total license area of 49,639 hectares.
Uummannaq
The licenses are located roughly 70 km from the coastal city of Uummannaq, about 80 km north of Ilulissat. Uummannaq has a population of about 1,660, an airport and a ferry terminal as well as a nearby container terminal. The area is located within the Archean Rae Craton that is intermixed with the Paleoproterozoic Rinkian fold-thrust belt, both of which are in contact with the Paleoproterozoic Nagssugtoqidian Orogen to the south.
The new license contains multiple amphibolite and metasedimentary belts with dozens of mapped and interpreted pegmatites with a total license area of 9,770 hectares.Management Team
Robert Wares - Executive Chairman
Robert Wares is a professional geologist with more than 35 years of experience in mineral exploration and development. He was responsible for discovering the Canadian Malartic bulk tonnage gold mine, which was subsequently developed by Osisko Mining into one of Canada's largest gold producers. Wares was a co-winner of the Prospectors and Developers Association of Canada's "Prospector of the Year Award" for 2007. He was also named one of the "Mining
Men of the Year" for 2009 by the Northern Miner. He has a bachelor of science and an honorary doctorate in Earth sciences from McGill University.
Killian Charles - President and CEO
From 2017 to 2021, Killian Charles worked as VP of corporate development for Osisko Metals. Charles was previously the manager of corporate development at Integra Gold Corp, which was an advanced-stage gold development company until it was acquired by Eldorado Gold in July 2017. He worked as a mining analyst at Industrial Alliance Securities and Laurentian Bank Securities. Charles covered small and mid-cap exploration and production companies as a mining analyst. Charles holds a bachelor of science with a major in Earth and planetary sciences from McGill University.
Anthony Glavac - CFO
Anthony Glavac has more than 17 years of experience in financial reporting, including over 12 years in the mining industry. Since August 2017, Glavac has served as vice-president, and corporate controller for Falco Resources, and previously served as director, financial reporting and internal controls at Dynacor Gold Mines. Glavac spent 10 years at KPMG, working with both public and private companies, providing audit, taxation, strategic advisory and public offering services. Glavac is also involved with other public companies in the mining industry.
François Goulet - Exploration Manager, Quebec
François Goulet holds a master’s degree in structural geology from the Université du Québec à Montréal (UQÀM). In recent years he was president and CEO of Harfang Exploration, a gold project generator in the James Bay region. He has extensive experience working in the James Bay region of Quebec as well as international experience in a variety of exploration projects.
Goulet has worked for Virginia Mines, Unigold, Maya Gold and Silver, the Canadian Malartic Partnership, Glencore Canada and several other junior companies. He is a member of the board of directors of l’Association de l’exploration minière du Québec (AEMQ) and a registered geologist with the Ordre des géologues du Québec since January 2011.
Charles Kodors - Exploration Manager, Atlantic Canada
Charles Kodors is the Manager, Atlantic Canada at Brunswick Exploration Inc. and has been with the company since January 2021. Having 15 years of experience in the mining and exploration industry, he most recently served as an exploration manager for Osisko Metals and a senior exploration geologist for Kirkland Lake Gold. Charles Kodors received his B.Sc. from Brock University and is a registered professional geologist within the provinces of New Brunswick, Newfoundland, Nova Scotia, Ontario, Quebec, Manitoba and Saskatchewan.
Simon Hébert - Vice-president, Development
Simon Hébert is a professional geologist with over 13 years in the mining exploration industry. He began his career with Virginia Mines and Osisko Mining. Hébert has worked on several
metallogenic projects and in various environments, mainly in the Baie-James territory, Nunavik and the Northwest Territories. He was a mining director in April 2019 where he participated in the formation of NQ Mining Investment, where he subsequently became general manager in 2023. Hébert is a registered professional geologist and a member of the Ordre des Géologues du Quebec since 2012. He has sat on the AEMQ board of directors since 2019, serving as vice- president. He is president of the board of directors of the Table Jamésienne de concertation minière. Hébert holds a bachelor’s degree in geology from Université Laval.
Rio Silver
Investor Insight
Rio Silver’s value proposition leverages a wholly owned 4,300 hectares of mineral concessions in a historic Peruvian mining district, a management team holding a 29 percent stake and over two decades of local experience, extensive exploration data and promising historical drill results.
Overview
Rio Silver (TSXV:RYO) is a precious metals mining and exploration company with a focus on the acquisition, exploration and development of precious metals deposits in South America. The company is currently focused on advancing its 100 percent-owned Niñobamba silver-gold project in Peru. The company has decades of experience navigating the mining regulatory landscape of Peru and considers itself to be well-positioned for the coming mining cycle.
Rio Silver’s flagship Niñobamba property is located in the Department of Ayacucho about 330 kilometers southeast of Lima. The 4,300-hectare property is wholly owned by the company and the project is drill ready. The Niñobamba project partially comprises a 2,200 hectare property which was previously owned by Newmont Mining (NYSE:NEM) and Southern Peru Mining. The balance was held by AngloGold Ashanti and Bear Creek Mining but has since been strategically acquired and consolidated into Rio Silver’s property.
The Ninobamba project engulfs a collapsed caldera, an ancient volcano, where the Niñobamba North and South zones were mineralized in a hot spring environment within the wall rock of the caldera surrounded by areas that contain high-sulfidation mineralization with near surface silver and gold deposits modeled for Rio Silver using leapfrog 3D software. The neighbouring Jorimina deposit, 6.5 kilometers to the west, where Newmont spent more than US$7 million, concluded an internal, positive, preliminary economic assessment, detailing a predominantly gold-rich, low to mid-sulfidation deposit found in the floor structure of this collapsed caldera.
The company’s management and advisory team is made up of experienced industry veterans, some with as many as 25 years of experience working in Peru. The team has an in-depth understanding of the regulatory processes associated with mining exploration in the country.
To date, Rio Silver and other historical operators have completed US$10 million in exploration expenditure on the Niñobamba property. The company has low overhead expenditure and strong alliances in Peru that are helping it achieve new initiatives for enhanced sustainability.
The company now holds a 3 percent net smelter return (NSR) royalty with guaranteed minimum payments from a recent property sale and these initiatives enable more exploration by helping Rio Silver with sustaining costs.
Company Highlights
- Rio Silver owns six mineral concessions covering 4,300 hectares of wholly-owned land in a historic Peruvian mining district.
- The property was historically surrounded by big-name miners (Newmont, Southern Peru Copper) and is now wholly owned by Rio Silver.
- Experienced management team with more than two decades of mining experience in Peru.
- Extensive trenching completed at the Niñobamba zone.
- The management team holds a 29 percent stake in the company.
- US$10 million in exploration expenditure completed to date by Rio and historical operators.
- All the historical data has been collected from previous owners.
- Historical drilling on the Niñobamba property intersected 130 meters of 2.55 oz/t silver and 72.3 meters of 1.19 g/t gold.
- New gold zone identified include 56 meters at 98.9 g/t silver and 21.77 meters at 1.32 g/t gold, 102.46 g/t silver.
Key Project
Niñobamba Silver Project, Peru
Located 330 kilometers southeast of Lima in the Department of Ayacucho, the Niñobamba property is 100 percent wholly owned by Rio Silver. The property includes six mineral concessions covering 4,300 hectares. The district has historically been mined by major international gold miners including Newmont Goldcorp and Southern Peru Mining.
The property was initially explored by AngloGold (JSE:ANG) in 2001. Anglo drilled five widely-spaced core holes totaling 861 meters focusing in an area of intense hydrothermal surface alteration. AngloGold’s drilling highlights included assay results of 87.0 grams per tonne (g/t) silver over a drilled interval of 130 meters starting from a depth of 9 meters reported from drill hole DDH-2 and 54.0 g/t silver over a drilled interval of 96 meters starting from 23 meters reported from the AN-04 drill hole.
Adjacent zones acquired from major miners
In 2016, Rio Silver consolidated its property by acquiring the surrounding 2,200 hectares of adjoining land from Newmont Mining and Southern Peru Copper. These included the 2,000 hectare Jorimina zone, which is located about 6.5 kilometers west of the Niñobamba and is believed to be part of the same high-sulfidation silver-gold system identified in the main Niñobamba zones. Along with the property came an extensive database of information including results and reports from an exploration program by the mining majors which encompassed 553 hectares. Newmont’s exploration included mapping, 2,147 rock samples and induced polarization geophysics. This historic exploration indicated a gold anomalous area of more than 700 meters by 1,000 meters as well as four strong chargeability anomalies coinciding with gold-silver in rock anomalies.
Newmont’s historic data includes samples of 17.4 meters of 3.06 g/t gold and 200 meters of 0.26 g/t gold. Historic exploration in the Jorimina zone conducted by Newmont in 2009 and 2010 shows highlights of 72.3 meters of 1.19 g/t gold starting at 53-meter depth.
In 2024, Rio Silver completed a surface access agreement with the local community for one year at the Jorimina project after an environmental impact study and community workshops were also completed to represent the final steps of the drill permitting application process.
Exploration and trenching results
To date, extensive trenching has been completed by Rio Silver on the Niñobamba property. In 2012, the company began conducting surface trenching in areas proximate to historical drilling locations. Exploration has focused primarily on the north and south zones of silver mineralization approximately 400 meters apart with variable thicknesses. Surface sampling near trenches in the north zone returned highlights of 1.32 g/t gold and 102.46 g/t silver. Sampling near trenches in the south zone returned highlights of 42.62 meters of 130.98 g/t silver. Additional highlights can be found on Rio Silver’s website.Management Team
Chris Verrico - President, CEO, and Director
Chris Verrico has extensive experience with rural-remote infrastructure construction and contract mining throughout BC, the Yukon, Alaska and Nunavut. He has been a director for a dozen startup junior mining companies, most of which have become public companies. Verrico has managed numerous exploration projects in North America, Mexico and throughout western South America. He is currently the director of Juggernaught Exploration.
Christopher Hopton - CFO
Christopher Hopton has over 25 years of experience in senior accounting and financial roles. He is currently the CFO of Sirona Biochem.
Steve Brunelle - Chairman
Steve Brunelle is the former officer and director of Corner Bay Silver, which was acquired by Pan American Silver. He has 35 years of experience in mineral exploration throughout the Americas and is currently an Officer and Director for several TSXV companies.
Jeffrey J Reeder - Advisor
Jeffrey J Reeder is a professional geologist with more than two decades of experience working in Peru. Reeder possesses an in-depth understanding of the rules, practices, and processes involved in conducting mining and exploration in the country and is currently the president of Peruvian Metals that owns a custom toll milling facility in northern Peru.
Jim McCrea – Adviser
Jim McCrea has more than 30 years’ experience in exploration, mining geology and mineral resource estimation. He worked for junior mining/exploration companies and engineering companies SRK and Snowden. His geological expertise ranges from technical review and due diligence to resource estimation and feasibility studies. McCrea has experience in a range of commodities, but primarily gold, silver and copper, with particular focus on North and South America. He has performed ore body modeling and resource estimation for the successfully targeted takeover company Cumberland Resources by Agnico-Eagle Mines. More recently, McCrea completed many mineral resource estimations underpinning acquisitions such as Minera San Cristóbal S.A. of Bolivia, Arena Minerals and Montan Mining, to mention a few.
Edward J Badidaa, - Director
Edward J Badidaa is a professional accountant with over 40 years of financial management and corporate governance experience. He currently serves as a director for Patagonia Gold.
Richard Mazur - Director
Richard Mazur is the co-founder and past managing director of RLG International operating in over 30 countries worldwide with more than 300 employees.
JZR Gold Investor Kit
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