Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan") is pleased to announce results from an additional five reverse-circulation rotary ("RC") drill holes from the Company's Phase Two drilling campaign exploring the Slab pit area of the Company's 19 km2 Santa Fe Project in Nevada's Walker Lane. The five drill holes, totaling 1,111 metres, are the final drill holes of the Company's Phase Two drilling campaign. The drill holes targeted down-dip extensions of oxidized gold and silver mineralization east and northeast of the Slab pit. Past mining and historic drilling had outlined significant potential oxide and transition domain resources east of the Slab pit that remained open down dip from the pit. Highlights include
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Lahontan Gold Corp. Announces Trading to Commence on TSX Venture Exchange
Lahontan Gold Corp. (formerly, 1246765 B.C. Ltd.) (the "Company") is pleased to announce that the Company's common shares (the "Common Shares") are to commence trading on the TSX Venture Exchange (the "TSXV") under the symbol "LG" effective market open on April 13, 2022.
In addition, the Company announces that it has granted an aggregate of 3,950,000 options to purchase common shares of the Company exercisable at a price of $0.45 per common share for a period of five (5) years to directors, officers and consultants of the Company. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant.
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 18 km2 Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 345,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company plans an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in 2022. For more information, please visit our website: www.lahontangoldcorp.com
All scientific and technical information in this press release has been reviewed and approved by Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., who is a qualified person under the definitions established by National Instrument 43-101.
For further information, please contact:
Lahontan Gold Corp.
Kimberly Ann, Chairwoman, CEO, President & Director
Phone: (530) 414-4400
Email: kimberly.ann@lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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Lahontan Drills More Gold at Slab: 32.0m Grading 0.65 gpt AuEq
- 32.0 metres grading 0.59 gpt Au and 4.4 gpt Ag (0.65 gpt Au Eq) of oxide and transition metallurgical domain mineralization in drill hole CAL22-016R including 6.1 metres grading 1.18 gpt Au and 14.4 gpt Ag (1.37 gpt Au Eq). This drill hole, coupled with earlier Lahontan drill results, shows that gold and silver mineralization extends in an easterly direction from the Slab pit across a post-mineral fault, opening a large area for resource expansion. (Please see cross section, location map, and table below).
- 62.5 metres grading 0.33 gpt Au and 2.6 gpt Ag (0.36 gpt Au Eq)of oxide mineralization in drill hole CAL22-015R including 6.1 metres grading 1.04 gpt Au and 1.4 gpt Ag (1.06 gpt Au Eq). This drill hole extends shallow gold and silver mineralization from the southeast corner of the Slab pit, expanding resource potential.
West-East (left to right, please see map below) cross section through drill holes CAL21-001C, CAL22-009R, and new drill hole CAL22-016R east of the Slab pit, Santa Fe Project, Mineral County, Nevada. The interpreted 0.2 gpt Au grade shell (cross-hatched) shows the stacked nature of the mineralization and greatly expands oxide and transition domain gold mineralization east of the Slab pit and across a prominent post-mineral fault. The drilling confirms the potential for additional shallow gold and silver mineralization north and east of the Slab pit.
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: "Lahontan is excited to release the final results from our 2022 Phase Two reverse-circulation drilling campaign. The entire program was successful in extending mineralization to the north and east of the Slab Pit and along the Calavada Fault. The drilling also confirmed the important correlation between thick, tabular, gold and silver mineralization and areas of low magnetic response. This correlation generates multiple large-scale drilling targets throughout the property and underscores the huge size of the Santa Fe hydrothermal system. The next benchmark for Lahontan will be the release of our maiden mineral resource estimate ("MRE") for the entire Santa Fe Project, expected early in Q1 2022. Work on the MRE is well underway and on schedule".
Drill hole location map with reduced to pole residual magnetics, Slab-Calvada pit area, Santa Fe Project, Mineral County, Nevada.
Drill Hole | Total Depth | From | To | Interval | Au | Ag | Au Eq | Metallurgical |
CAL22-012R | 249.9 | 53.3 | 59.4 | 6.1 | 0.25 | 0.9 | 0.26 | Oxide |
and: | 70.1 | 89.9 | 19.8 | 0.20 | 1.8 | 0.22 | Oxide | |
CAL22-013R | 249.9 | 33.5 | 44.2 | 10.7 | 0.20 | 8.9 | 0.32 | Oxide |
CAL22-014R | 198.2 | 4.6 | 13.7 | 9.1 | 0.39 | 1.4 | 0.41 | Oxide |
and: | 91.4 | 102.1 | 10.7 | 0.22 | 0.5 | 0.23 | Oxide | |
CAL22-015R | 199.6 | 21.3 | 83.8 | 62.5 | 0.33 | 2.6 | 0.36 | Oxide |
including: | 50.3 | 56.4 | 6.1 | 1.04 | 1.4 | 1.06 | Oxide | |
CAL22-016R | 213.4 | 140.2 | 172.2 | 32.0 | 0.59 | 4.4 | 0.65 | Oxide and Transition |
including: | 140.2 | 146.3 | 6.1 | 1.18 | 14.4 | 1.37 | Oxide and Transition | |
and: | 199.6 | 208.8 | 9.2 | 0.14 | 20.6 | 0.41 | Oxide and Transition |
*Notes: Au Eq equals Au (gpt) + (Ag gpt/75). Metallurgical recovery has not been factored as insufficient test-work is available to determine potential Ag recoveries. True thickness of the intercepts shown above are estimated to be 90-95% of the drilled interval.
QA/QC Protocols:
Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC program consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5% of the total samples. CRM's were inserted at a rate of one CRM for every 20 samples or approximately 5% of the total samples.
The standards utilized include three gold CRM's and one blank CRM that were purchased from Shea Clark Smith Laboratories (MEG) of Reno, Nevada. Expected gold values are 0.188 gpt, 1.107 gpt, 10.188 gpt, and -0.005 gpt, respectively. The coarse blank material comprised of commercially available landscape gravel with an expected gold value of -0.005 gpt.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 - 30.48m) mark and labeled with a "D" suffix on the sample bag. No duplicates were submitted for core.
All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of 2 hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. We have all results reported in grams per tonne (gpt).
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 375,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company is continuing an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in Q1 2023. For more information, please visit our website: www.lahontangoldcorp.com.
All scientific and technical information in this press release has been reviewed and approved by Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., who is a qualified person under the definitions established by National Instrument 43-101
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE:Lahontan Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/730280/Lahontan-Drills-More-Gold-at-Slab-320m-Grading-065-gpt-AuEq
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Lahontan Drills More Oxide Gold at Slab: 32.0m Grading 0.61 GPT AuEq
Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan") is pleased to announce results from an additional four reverse-circulation rotary ("RC") drill holes from the Company's Phase Two drilling campaign exploring the Slab pit area of the Company's 19 km2 Santa Fe Project in Nevada's Walker Lane. The four drill holes, totaling 883 metres, targeted down-dip extensions of oxidized gold and silver mineralization east and northeast of the Slab pit. Past mining and historic drilling had outlined significant potential oxide and transition domain resources east of the Slab pit that remained open down dip from the pit. Highlights include
- 32.0 metres grading 0.50 gpt Au and 7.9 gpt Ag (0.60 gpt Au Eq) of oxide and transition metallurgical domain mineralization in drill hole CAL22-010R including 10.7 metres grading 0.93 gpt Au and 18.7 gpt Ag (1.18 gpt Au Eq). This drill hole, coupled with earlier Lahontan drill results, confirms a major easternly extension of previously mined gold and silver mineralization seen in the Slab pit, extending mineralization at least 350 metres down dip at shallow levels (please see cross section, location map, and table below).
West-East (left to right, please see map below) cross section through drill holes CAL21-005C, CAL22-001R, and new drill hole CAL22-010R east of the Slab pit, Santa Fe Project, Mineral County, Nevada. The interpreted 0.2 gpt Au grade shell greatly expands oxide and transition domain gold mineralization east of the Slab pit and confirms the potential for additional shallow gold and silver mineralization east of the Slab pit.
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: "Lahontan is very pleased with the results of these four drill holes collared east of the Slab pit. Coupled with previous Lahontan drilling and historic drill results, we have identified a low-angle blanket of gold and silver mineralization that extends hundreds of metres east of the slab pit that remains unconstrained down-dip. Results from the final five reverse-circulation drill holes from our 2022 Phase Two drilling campaign are expected shortly. The Company's geologic team is working closely with our third-party consultants, providing the detailed geologic interpretations that will be used in our upcoming maiden resource estimate, expected in Q1 2023. Modeling the distribution of gold and silver mineralization at the Santa Fe pit area is well underway and work will transition to the Slab-Calvada pit area once our final drill results are received".
Drill hole location map with reduced to pole residual magnetics, Slab-Calvada pit area, Santa Fe Project, Mineral County, Nevada.
Important take-aways from these drill results include the further confirmation that gold and silver mineralization occurs in areas that are characterized as a magnetic low. As can be seen in the drill hole location map above, there are extensive areas with a low intensity magnetic signature that remain untested by drilling that could host potential resources in the Slab-Calvada area. The drill results table below also highlights an important characteristic of mineralization east and northeast of the Slab pit: higher silver grades. The silver content is significant and could positively impact potential mining operations at Santa Fe.
Drill Hole | Total Depth (m) | From (m) | To (m) | Interval (m) | Au (gpt) | Ag (gpt) | Au Eq (gpt) | Metallurgical Domain |
CAL22-008R | 213.4 | 47.2 | 61.0 | 13.7 | 0.43 | 1.9 | 0.46 | Oxide & Transition |
and: | 158.5 | 172.2 | 13.7 | 0.42 | 3.1 | 0.46 | Oxide | |
CAL22-009R | 213.4 | 74.7 | 89.9 | 15.2 | 0.26 | 1.6 | 0.28 | Oxide & Transition |
including: | 74.7 | 82.3 | 7.6 | 0.43 | 3.1 | 0.47 | Oxide & Transition | |
CAL22-010R | 228.6 | 77.7 | 109.7 | 32.0 | 0.50 | 7.9 | 0.61 | Oxide & Transition |
including: | 77.7 | 88.4 | 10.7 | 0.93 | 18.7 | 1.18 | Transition | |
CAL22-011R | 228.6 | 32.0 | 36.6 | 4.6 | 0.23 | 2.4 | 0.26 | Oxide |
and: | 50.3 | 54.9 | 4.6 | 0.27 | 1.4 | 0.29 | Oxide |
*Notes: Au Eq equals Au (gpt) + (Ag gpt/75). Metallurgical recovery has not been factored as insufficient test-work is available to determine potential Ag recoveries. True thickness of the intercepts shown above are estimated to be 90-95% of the drilled interval.
QA/QC Protocols:
Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC program consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5% of the total samples. CRM's were inserted at a rate of one CRM for every 20 samples or approximately 5% of the total samples.
The standards utilized include three gold CRM's and one blank CRM that were purchased from Shea Clark Smith Laboratories (MEG) of Reno, Nevada. Expected gold values are 0.188 gpt, 1.107 gpt, 10.188 gpt, and -0.005 gpt, respectively. The coarse blank material comprised of commercially available landscape gravel with an expected gold value of -0.005 gpt.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 - 30.48m) mark and labeled with a "D" suffix on the sample bag. No duplicates were submitted for core.
All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of 2 hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. We have all results reported in grams per tonne (gpt).
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 375,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company is continuing an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in Q1 2023. For more information, please visit our website: www.lahontangoldcorp.com
All scientific and technical information in this press release has been reviewed and approved by Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., who is a qualified person under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
Kimberly Ann
Founder, Chief Executive Officer, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE: Lahontan Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/725350/Lahontan-Drills-More-Oxide-Gold-at-Slab-320m-Grading-061-GPT-AuEq
News Provided by ACCESSWIRE via QuoteMedia
Lahontan Gold Issued Shares in Connection with Amendment to Moho Option Agreement
Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (formerly, 1246765 B.C. Ltd.) (the "Company") is pleased to announce that, further to its press release of November 1, 2022, the Company has: (i) made a payment to Minquest Ltd. ("Minquest") in the amount of US$129,875 in cash or immediately available funds; and (ii) issued Minquest 800,000 common shares (the "Common Shares") in the capital of the Company at a deemed value of US$0.08 per Common Share pursuant to the second amendment to the lease option to purchase agreement (the "Second Amending Agreement") dated October 3, 2022 with Minquest and Lahontan Gold (US) Corp. ("Subco") amending the terms of the mining lease option to purchase agreement dated August 30, 2017 as amended August 25, 2020 between Minquest and Pyramid Gold (US) Corp. ("Pyramid Gold"), as assigned from Pyramid Gold to the Company on July 30, 2020 pursuant to the assignment and assumption agreement between Pyramid Gold and the Company (collectively, the "Agreement"). Pursuant to the Agreement, the Company has the option (the "Option") to purchase fifty (50) unpatented lode mining claims in Mineral County, Nevada (the "Moho Property"). The Second Amending Agreement amends the term of the Agreement to March 31, 2023.
All securities issued in connection with the Second Amended Agreement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 18 km2 Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 345,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company plans an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in 2022. For more information, please visit our website: www.lahontangoldcorp.com
For further information, please contact:
Lahontan Gold Corp.
Kimberly Ann, Chairwoman, CEO, President & Director
Phone: (530) 414-4400
Email: kimberly.ann@lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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Lahontan Gold Announces Amendment to Moho Option Agreement
Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (formerly, 1246765 B.C. Ltd.) (the "Company") is pleased to announce that on October 3, 2022, it entered into a second amendment to the lease option to purchase agreement (the "Second Amending Agreement") with Minquest Ltd. ("Minquest") and Lahontan Gold (US) Corp. ("Subco") amending the terms of the mining lease option to purchase agreement dated August 30, 2017 as amended August 25, 2020 between Minquest and Pyramid Gold (US) Corp. ("Pyramid Gold"), as assigned from Pyramid Gold to the Company on July 30, 2020 pursuant to the assignment and assumption agreement between Pyramid Gold and the Company (collectively, the "Agreement"). Pursuant to the Agreement, the Company has the option (the "Option") to purchase fifty (50) unpatented lode mining claims in Mineral County, Nevada (the "Moho Property"). The Second Amending Agreement amends the term of the Agreement to March 31, 2023.
In consideration for entering into the Second Amending Agreement, the Company or Subco, has: (i) made a payment to Minquest in the amount of US$129,875 in cash or immediately available funds; and (ii) issued Minquest 800,000 common shares (the "Common Shares") in the capital of the Issuer at a deemed value of US$0.08 per share. All securities issued in connection with the Second Amended Agreement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The completion of the transaction remains subject to all regulatory and other approvals, including the approval of the TSX Venture Exchange. No finder's fees or commissions are payable in connection with the Second Amending Agreement.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 18 km2 Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 345,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company plans an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in 2022. For more information, please visit our website: www.lahontangoldcorp.com
For further information, please contact:
Lahontan Gold Corp.
Kimberly Ann, Chairwoman, CEO, President & Director
Phone: (530) 414-4400
Email: kimberly.ann@lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITEDSTATES
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Lahontan Drills More Shallow Gold at Slab-Calvada: 25.9m Grading 2.55 gpt Au
Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan") is pleased to announce results from the first seven reverse-circulation rotary ("RC") drill holes of the Company's Phase Two drilling campaign exploring the Slab-Calvada pit area of the Company's 19 km2 Santa Fe Project in Nevada's Walker Lane. The seven drill holes, totaling 1,710 metres, targeted down-dip extensions of oxidized gold and silver mineralization along the Calvada fault and northerly step-out drilling from the Slab pit. Historic drilling in both areas had outlined significant potential oxide and transition domain resources. Highlights include
- 25.9 metres grading 2.55 gpt Au and 3.4 gpt Ag (2.60 gpt Au Eq) of oxide and transition metallurgical domain mineralization in drill hole CAL22-006R. This is the farthest north step-out drill hole from the Slab pit, with gold mineralization starting at a depth of only 68.6 metres down-hole (please see map and table below).
- 47.2 metres grading 0.78 gpt Au and 1.3 gpt Ag (0.80 gpt Au Eq) in drill hole CAL22-002R including 32.0 metres grading 1.04 gpt Au and 1.4 gpt Ag (1.06 gpt Au Eq) of oxidized mineralization down-dip along the Calvada fault, further expanding the envelope of oxide gold mineralization along this important structure (please see map, cross section, and table below).
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: "The Company is excited about these first results from our 2022 Phase Two drilling campaign. The results from drilling the northern extension of the Slab pit confirm that gold mineralization remains wide open in this direction with excellent grades. The Calvada fault drilling continues to impress, with thick intervals of oxide gold mineralization extending at depth along this district-scale structure. Drilling continues and Lahontan will integrate these results into our upcoming maiden resource estimate for the entire Santa Fe Project".
As can be seen in the drill hole location map above, our drone magnetic survey data clearly outlines a magnetic low extending north from the Slab pit. Lahontan's Phase Two drilling confirms that gold and silver mineralization extends at least 200 metres north of the pit at shallow depths. The magnetic data supports multiple drilling targets north and northwest of the Slab pit as well as along the Calvada fault, highlighting the large resource potential of the Slab-Calvada area.
Drill Hole | Total Depth (m) | From (m) | To (m) | Interval (m) | Au (gpt) | Ag (gpt) | Au Eq (gpt) | Metallurgical Domain |
CAL22-001R | 243.8 | 105.2 | 115.8 | 10.6 | 0.42 | 7.4 | 0.52 | Oxide |
CAL22-002R | 274.3 | 170.7 | 217.9 | 47.2 | 0.78 | 1.3 | 0.80 | Oxide |
including: | 175.3 | 207.3 | 32.0 | 1.04 | 1.4 | 1.06 | Oxide | |
CAL22-003R | 228.6 | 102.1 | 125.0 | 22.9 | 0.41 | 1.4 | 0.43 | Oxide |
CAL22-004R | 249.9 | No Significant Intercepts | ||||||
CAL22-005R | 249.9 | 86.9 | 131.1 | 44.2 | 0.30 | 4.0 | 0.35 | Oxide |
including: | 112.8 | 125.0 | 12.2 | 0.52 | 1.3 | 0.54 | Oxide | |
CAL22-006R | 204.2 | 68.6 | 94.5 | 25.9 | 2.55 | 3.4 | 2.60 | Oxide/Transition |
including: | 77.7 | 88.4 | 10.7 | 4.13 | 3.3 | 4.17 | Oxide/Transition | |
and: | 175.3 | 181.4 | 6.1 | 0.68 | 3.2 | 0.72 | Oxide/Transition | |
CAL22-007R | 259.1 | 91.4 | 111.3 | 19.8 | 0.41 | 1.6 | 0.43 | Transition |
and: | 146.3 | 161.5 | 15.2 | 0.72 | 0.9 | 0.73 | Oxide | |
*Notes: Au Eq equals Au (gpt) + (Ag gpt/75). Metallurgical recovery has not been factored as insufficient test-work is available to determine potential Ag recoveries. True thickness of the intercepts shown above are estimated to be 85-95% of the drilled interval.
South-north (left to right, please see map above) cross section through drill holes CAL21-004C, -007C, and new drill hole CAL22-002R in the Calvada fault zone, Santa Fe Project, Mineral County, Nevada. The grade shell outlining gold and silver mineralization (shown in pink above) is based upon modeling historic drilling; CAL22-002R greatly expands oxide gold mineralization at depth and confirms the potential for deeper resource expansion drilling along the Calvada fault.
QA/QC Protocols:
Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC program consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5% of the total samples. CRM's were inserted at a rate of one CRM for every 20 samples or approximately 5% of the total samples.
The standards utilized include three gold CRM's and one blank CRM that were purchased from Shea Clark Smith Laboratories (MEG) of Reno, Nevada. Expected gold values are 0.188 gpt, 1.107 gpt, 10.188 gpt, and -0.005 gpt, respectively. The coarse blank material comprised of commercially available landscape gravel with an expected gold value of -0.005 gpt.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 - 30.48m) mark and labeled with a "D" suffix on the sample bag. No duplicates were submitted for core.
All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of 2 hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. We have all results reported in grams per tonne (gpt).
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 375,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company is continuing an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in 2022. For more information, please visit our website: www.lahontangoldcorp.com
All scientific and technical information in this press release has been reviewed and approved by Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., who is a qualified person under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
Kimberly Ann
Founder, Chief Executive Officer, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
SOURCE:Lahontan Gold Corp.
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Newmont Appoints Mining Industry Veteran Francois Hardy as Chief Technology Officer
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announced the appointment of Francois Hardy as Chief Technology Officer (CTO). Francois will join Newmont's Executive Leadership Team and lead the technical work across the business to improve operational performance and drive growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240419973025/en/
Newmont Appoints Mining Industry Veteran Francois Hardy as Chief Technology Officer (Photo: Business Wire)
Francois will take over from interim CTO, Dean Gehring , who also served in a dual role as Newmont's Chief Integration Officer. After a period of transition, Dean will be leaving the company in early July.
Francois brings more than 30 years of technical and operational experience in mining to the role. He commenced with Newmont in 2002 and has held roles including Group Head Exploration, Managing Director Africa and General Manager Tanami.
"Francois is a strong leader with deep technical experience and a demonstrable track record of improving operating performance. His appointment will further strengthen Newmont's Executive Leadership Team, adding valuable technological expertise which will be central to our ongoing success as a business," said Tom Palmer, Newmont President, and CEO.
Before joining Newmont, Francois held executive positions at Avmin Ltd and De Beers Consolidated Mines. He steps into the new role at a pivotal moment in Newmont's history and will be tasked with looking for new ways to enhance the company's operations through innovation and new technologies.
Francois graduated from the Technikon Witwatersrand (now University of Johannesburg) with a BSc in Mine Engineering and received his National Higher Diploma in Metalliferous Mining from the University of Johannesburg.
Francois will be based at Newmont's headquarters in Denver and will assume his new role as of May 1, 2024.
About Newmont
Newmont is the world's leading gold company and producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20240419973025/en/
Media Contact
Jennifer Pakradooni
Jennifer.Pakradooni@Newmont.com
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Drilling Underway at the Hyperion REE Prospect, Arkun Project, WA
An aircore drill programme will commence this week at Impact Minerals Limited's (ASX:IPT) Hyperion REE prospect, which is part of the 100% owned Arkun Project, located 150km east of Perth in the emerging mineral province of southwest Western Australia (Figure 1, ASX Release April 16th 2024).
- Drilling is well underway at the Hyperion Rare Earth Element (REE) Prospect to test a large Rare Earth Element soil geochemistry anomaly.
- The soil anomaly covers at least a 3 km2 area at greater than 1,000 ppm Total Rare Earth Oxide (TREO + Y) with peak values up to 5,880 ppm (0.59%) TREO+Y and Nd+Pr of up to 21%.
- The soil anomaly is hosted in weathered granite and is prospective for a large clay-hosted REE deposit.
The drill programme, comprising approximately 40 holes for 2000 metres will test the significant REE soil geochemistry anomaly identified at Hyperion, where results of up to 5,880 parts per million (ppm) Total Rare Earth Element Oxides and Yttrium (TREO +Y) were reported previously (ASX Release 4th January 2024). These are some of the highest TREO-in-soil results reported recently in Western Australia. Other REE soil geochemistry anomalies have been identified at Swordfish and Horseshoe (Figure 2 and ASX Releases January 4th 2024 and June 1st 2023).
Hyperion Prospect
The soil geochemistry anomaly at Hyperion covers an area of more than 3 km2 at greater than 1,000 ppm TREO+Y at Hyperion (Figure 2). Five samples returned greater than 2,500 ppm TREO+Y with a peak value of 5,880 ppm (0.58%) TREO+Y.
Within the anomaly, two broad northwest-southeast trending zones of more than 1,500 ppm TREO+Y-in- soils extend for 2.5 km along-trend and are open in both directions (Figure 2).
The anomaly has an average neodymium plus praseodymium percentage of about 20%, typical of most regolith-hosted mineralisation in the region with Heavy REE contents of between 54 ppm and 200 ppm within the >1,000 ppm parts of the anomaly (ASX Release January 4th 2024). This is encouraging for discovering the more economically compelling Heavy Rare Earths close to the surface.
The Hyperion anomaly is underlain by a well-preserved laterite (weathering) profile developed on very weathered granite bedrock, the likely source of the REE.
Click here for the full ASX Release
This article includes content from Impact 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.
NOVAGOLD Releases 2023 Sustainability Report
- Providing a comprehensive overview of NOVAGOLD's Environmental, Social and Governance (ESG) performance, emphasizing remarkable health and safety records, steadfast dedication to environmental protection, continuous community investment, extensive stakeholder engagement, and robust corporate governance.
- Highlighting NOVAGOLD's investment in our partnerships with Donlin Gold LLC, Calista Corporation ("Calista"), and The Kuskokwim Corporation (TKC) to reinforce Donlin Gold's social license, while emphasizing ongoing community engagement and addressing specific needs.
- Integrated NOVAGOLD's Task Force on Climate-Related Financial Disclosures Report (TCFD) into this year's Sustainability Report and reported in alignment with the Global Reporting Initiative framework (GRI).
NOVAGOLD RESOURCES INC. ("NOVAGOLD" or "the Company") (NYSE American, TSX: NG) is pleased to publish its 2023 Sustainability Report ("Sustainability Report") with a focus on our 2023 performance in the areas of environmental stewardship, health and safety, social responsibility and engagement, and corporate governance.
"Our 2023 achievements continue to build on the excellent work accomplished in the areas of environmental stewardship, health and safety, social engagement, and corporate governance, by the teams at Donlin Gold and NOVAGOLD over many years in advancing the Donlin Gold project for the benefit of our stakeholders and shareholders. The team's unwavering commitment to the Company and steadfast dedication to the project, the Yukon-Kuskokwim (Y-K) region, and Alaska, as well as our Sustainability Committee's and Board of Directors' guidance, have been instrumental in successfully advancing this extraordinary asset in western Alaska," said Greg Lang, President and Chief Executive Officer.
Highlights of NOVAGOLD's 2023 Sustainability Report:
As a development-stage mining company, NOVAGOLD focuses primarily on advancing the Donlin Gold project while adopting a long-term approach to sustainability. This year, the Company proudly presents its fourth annual sustainability report, aligned with the GRI framework and TCFD. Our continuous efforts to advance the Donlin Gold project toward construction and eventual operation are fortified by our strong Alaska Native Corporation partnerships with Calista and TKC. Together, our aim is to deliver economic and social benefits to the Y-K region through the environmentally responsible development of the Donlin Gold project. Emphasizing transparency, our focus is on effectively communicating sustainability priorities and ESG performance.
Central to NOVAGOLD's ethos is an unwavering focus on sustainable development, where collaboration with local communities minimizes environmental impacts, stimulates economic growth, and sets new industry benchmarks. Consistent with our commitment to transparency and sustainability, since 2020, NOVAGOLD's annual sustainability reports have highlighted the Company's significant achievements and dedication to responsible business practices and governance. Collaborative initiatives with Calista and TKC help protect the environment and provide much-needed investment in southwestern Alaska's indigenous communities.
The 2023 sustainability report is available on NOVAGOLD's website here .
About NOVAGOLD
NOVAGOLD is a well-financed precious metals company focused on the development of its 50%-owned Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories, inclusive of Proven and Probable Mineral Reserves (541 million tonnes at an average grade of approximately 2.24 grams per tonne, in the Measured and Indicated Resource categories on a 100% basis) 1 , the Donlin Gold project is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world. According to the 2021 Technical Report and the S-K 1300 Report (both as defined in the footnote below), once in production, the Donlin Gold project is expected to produce an average of more than one million ounces per year over a 27-year mine life on a 100% basis. The Donlin Gold project has substantial exploration potential beyond the designed footprint of the open pit which currently covers three kilometers of an approximately eight-kilometer-long gold-bearing trend. Current activities at the Donlin Gold project are focused on state permitting, engineering studies, community outreach, and workforce development in preparation for the eventual construction and operation of this project. With a strong balance sheet, NOVAGOLD is well-positioned to fund its share of permitting and advancement efforts at the Donlin Gold project.
NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Corporate Communications
604-669-6227 or 1-866-669-6227
Frank Gagnon
Manager, Investor Relations
778-990-0299 or 1-866-669-6227
Cautionary Note Regarding Forward-Looking Statements
This media release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are frequently, but not always, identified by words such as "expects", "continue", "ongoing", "guidance", "strategy", "poised", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", "would" or "should" occur or be achieved. Forward-looking statements are based on a number of material assumptions, including but not limited to the following, which could prove to be significantly incorrect: our ability to achieve production at any of our mineral exploration and development properties; estimated capital costs, operating costs, production and economic returns; estimated metal pricing, metallurgy, mineability, marketability and operating and capital costs, together with other assumptions underlying our resource and reserve estimates; our expected ability to develop adequate infrastructure and that the cost of doing so will be reasonable; assumptions that all necessary permits and governmental approvals will be obtained and the timing of such approvals; assumptions made in the interpretation of drill results, the geology, grade and continuity of our mineral deposits; our expectations regarding demand for equipment, skilled labor and services needed for exploration and development of mineral properties; and that our activities will not be adversely disrupted or impeded by development, operating or regulatory risks. Forward-looking statements are necessarily based on several opinions, estimates and assumptions that management of NOVAGOLD considered appropriate and reasonable as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, included herein are forward-looking statements. These forward-looking statements include statements regarding our long-term approach to sustainability; ongoing support provided to key stakeholders including Native Corporation partners; Donlin Gold's continued support for the state; the potential development and construction of the Donlin Gold project; the sufficiency of funds to continue to advance development of Donlin Gold, including to a construction decision; perceived merit of properties; mineral reserve and mineral resource estimates; Donlin Gold's ability to secure the permits needed to construct and operate the Donlin Gold project in a timely manner, if at all; whether the Donlin Gold LLC board will continue to advance the Donlin Gold project up the value chain; the success of the Donlin Gold community relations plan; and the outcome of exploration drilling at the Donlin Gold project and the timing thereof;. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances are forward-looking statements. Forward-looking statements are not historical facts but instead represent the expectations of NOVAGOLD management's estimates and projections regarding future events or circumstances on the date the statements are made. Important factors that could cause actual results to differ materially from expectations include the need to obtain additional permits and governmental approvals; the timing and likelihood of obtaining and maintaining permits necessary to construct and operate; the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; lingering effects of COVID-19; uncertainties involved in the interpretation of drill results and geological tests and the estimation of reserves and resources; changes in mineral production performance, exploitation and exploration successes; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the United States or Canada; the need for continued cooperation between Barrick Gold Corporation and NOVAGOLD for the continued exploration; the need for additional capital if NOVAGOLD determined to proceed with an updated feasibility study on its own; development and eventual construction of the Donlin Gold property; the need for cooperation of government agencies and Native groups in the development and operation of properties; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, disease pandemics, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases, which could include significant increases in estimated capital and operating costs; fluctuations in metal prices and currency exchange rates; whether or when a positive construction decision will be made regarding the Donlin Gold project; and other risks and uncertainties disclosed in NOVAGOLD's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports and other documents filed by NOVAGOLD with applicable securities regulatory authorities from time to time. Copies of these filings may be obtained by visiting NOVAGOLD's website at www.novagold.com, or the SEC's website at www.sec.gov, or on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained herein reflect the beliefs, opinions and projections of NOVAGOLD on the date the statements are made. NOVAGOLD assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
_____________________________________________________
1 Donlin Gold data as per the report titled "NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA" with an effective date of June 1, 2021 (the "2021 Technical Report") and the report titled "S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA" (the "S-K 1300 Report"), dated November 30, 2021. Donlin Gold possesses Measured Resources of approximately 8 Mt grading 2.52 g/t and Indicated Resources of approximately 534 Mt grading 2.24 g/t, each on a 100% basis and inclusive of Mineral Reserves, of which approximately 4 Mt of Measured Resources and approximately 267 Mt of Indicated Resources inclusive of Reserves is attributable to NOVAGOLD through its 50% ownership interest in Donlin Gold LLC. Exclusive of Mineral Reserves, Donlin Gold possesses Measured Resources of approximately 1 Mt grading 2.23 g/t and Indicated Resources of approximately 69 Mt grading 2.44 g/t, of which approximately 0.5 Mt of Measured Resources and approximately 35 Mt of Indicated Resources exclusive of Mineral Reserves is attributable to NOVAGOLD. Donlin Gold possesses Proven Reserves of approximately 8 Mt grading 2.32 g/t and Probable Reserves of approximately 497 Mt grading 2.08 g/t, each on a 100% basis, of which approximately 4 Mt of Proven Reserves and approximately 249 Mt of Probable Reserves is attributable to NOVAGOLD. Mineral Reserves and Resources have been estimated in accordance with NI 43-101 and S-K 1300.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dfef9e75-dcf4-4f66-b621-9a0b379a64a0
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Impact Minerals Limited
Overview
Impact Minerals (ASX:IPT) is an exploration and development mining company focused on discovering and developing new resource projects within Australia. Lake Hope, a recent transformational acquisition by the company and its current flagship asset, is a high-purity alumina (HPA) project in Impact’s home territory of Western Australia, a tier-one jurisdiction.
This advanced-stage project allows the company to fast-track the asset toward development, firmly establishing the company on the road to production and increasing shareholder value.
HPA is a high-value product with various uses in several industries that are key to the transition to a low-carbon world. Its main uses are in LED lighting, micro-LED screens, and ceramic-coated separators in lithium-ion batteries. Both these markets are forecast to grow dramatically over the next decade, and a looming supply shortage is predicted for 2026.
HPA is also necessary for producing synthetic sapphire and scratch-resistant glass. With these ever-widening applications for HPA, demand for this resource is expected to grow from US$3.18 billion to US$12.21 billion by 2030 with a compounded annual growth rate of about 20 percent.
Lake Hope is the company’s current focus as it moves towards production, and where a very shallow, high-grade resource of HPA precursor material has been identified in the top two meters of a dry salt lake. The deposit has unique physical and chemical properties that will allow for inexpensive digging and mining, with transportation to a processing facility off-site in an established industrial area. This will accelerate the approvals processes required to get into production.
Impact is currently focused on lodging a mining lease application. The company aims to bring Lake Hope, which contains almost 1 million tons of potential HPA, into production when the forecast average price for 4N HPA (99.99 percent AL203) and related products is about US$20,000 per ton. The ‘4N’ designation indicates the purity grade, making it suitable for high-tech end uses.
Outstanding economics from the latest scoping study released by the company shows Lake Hope’s potential to be the lowest-cost producer of HPA globally by up to 50 percent.
In June 2023, Impact announced a maiden mineral resource estimate (MRE) of 3.5 million tons at 25.1 percent alumina (Al2O3) for a contained 880,000 tons of alumina. The company also received heritage clearances for the entire Lake Hope deposit further de-risking the project and providing another critical component in the company’s application for a mining lease.
Impact completed a bulk sampling and test pits program at the Lake Hope project in December 2023. The company recently announced a key milestone having produced HPA greater than 99.99 percent (4N) purity from the metallurgical processing of lake clays acquired from Lake Hope.
In February 2024, a new proprietary metallurgical process for producing HPA from the lake clays was identified. Impact produced 99.99 percent (4N) Al2O3 from a low-temperature leach (LTL) process. The LTL process may lower the capital and operating costs to produce HPA compared to the sulphate process which underpinned the recent scoping study. The LTL process will be included in the ongoing pre-feasibility study in parallel with the sulphate process at marginal extra cost to determine the best processing route to HPA. The PFS is due to be completed on schedule in late 2024.
A comparison of the LTL process and the sulphate process
The company received a significant research and development refund of $753,000 from its exploration activities completed in the financial year ending June 30th, 2022. The company is well funded to finance the pre-feasibility study at the Lake Hope High Purity Alumina project and exploration activities at the Arkun battery minerals project.
Impact Minerals was also one of the inaugural cohort of seven companies selected to be part of the prestigious BHP Xplor program. BHP Xplor, an accelerator program introduced by BHP in August 2022, is designed to help provide participants with the opportunity to accelerate their growth and the potential to establish a long-term partnership with BHP and its global network of partners.
The BHP Xplor funding was used to identify new target areas for copper and other energy metals around the Broken Hill area in New South Wales, eastern Australia, where Impact has been quietly adding to its ground position for several years.
Additionally, the company is exploring its large Arkun battery metals project, also in Western Australia which covers nearly 2,900 square kilometres. Three new exploration licence applications were submitted recently immediately north of the Arkun project along trend from the recently discovered REE soil geochemistry anomalies at Hyperion, Swordfish and Horseshoe, and the Caligula copper anomaly. These anomalies require drill testing which will occur in 2024 and is an exciting development in the emerging mineral province of southwest WA.
A strong management team with over 50 years of combined industry experience leads the company. With a mining and exploration geology degree, Dr. Mike Jones, managing director, launched a long career consulting and leading mining organizations. Peter Unsworth, the non-executive chairman, has more than 35 years of experience in multiple financial sectors, such as securities industries and wealth management. Paul Ingram, a non-executive director, has led several mining companies since 2003. Impact Minerals has the experience and expertise to lead the company to success.
Company Highlights
- Impact Minerals is an exploration and development mining company focused on rapidly moving its flagship Lake Hope high-purity alumina (HPA) project towards production.
- Lake Hope project has a high-grade maiden mineral resource estimate (MRE) of 3.5 million tonnes at 25.1 percent alumina (Al2O3), for a contained 880,000 tonnes of alumina that can be converted to HPA.
- HPA is used throughout multiple industries, and the overall HPA market is projected to grow by a CAGR of 18.4 percent by 2030.
- A pre-feasibility study is currently in progress, and Impact plans to lodge a mining lease application by Q3 2024 after results of its scoping study indicated that Lake Hope could potentially be one of, if not the lowest-cost producer of HPA globally, possibly by a significant margin of up to 50 percent.
- The company’s project portfolio also includes assets with high-grade mineral deposits of a range of base, critical and precious metals.
- Impact Mineral’s 2,000-square-mile Arkun nickel-copper-PGE project in Western Australia has produced encouraging assays motivating further exploration with maiden drill programmes planned for 2024.
- The company is also exploring its Broken Hill copper project in New South Wales under the auspices of the BHP Xplor program.
- A strong management team leads the company with experience in geology, mining and corporate finance.
Key Projects
Lake Hope HPA Project
Impact Minerals’ Lake Hope HPA project is in Western Australia, a tier-one mining jurisdiction. HPA is a crucial component in many new and emerging technologies, creating ongoing demand for high-grade sources. The Lake Hope project has become the company’s flagship as it moves toward production.
Project Highlights:
- Maiden Mineral Resource Estimate: A maiden mineral resource of 3.5 million tonnes at 25.1 percent alumina (Al2O3) for a contained 880,000 tonnes of alumina has been defined at the Lake Hope HPA Project. About 88 percent of the resource, or 775,000 tonnes of alumina, is in the higher confidence indicated resource category.
- Amenable to Open-pit Mining: The Lake Hope project is a unique HPA asset amenable to shallow, open-pit mining. The deposit is soft and shallow, allowing for cheap digging and minimal infrastructure requirements. This type of deposit also lowers the environmental footprint of the operation.
- Fast-tracked to Production: The company is currently awaiting its Mining Lease Application. Once granted, the company will begin working towards a pre-feasibility study and mini pilot plant. Impact Minerals plans to reach a complete pilot plant by 2026.
- Impressive Results of the 2023 Scoping Study: Outstanding economics show Lake Hope to potentially be the lowest-cost producer of High Purity Alumina (HPA) globally by up to 50 percent. Key outcomes from the scoping study include:
- Annual production of 10,000 tpa of 4N HPA with an initial 25-year mine life
- Annual EBITDA of A$174 million.
- 2 years construction period with 5,000 tonnes of production during the first year, 8,000 tonnes in the second year and 10,000 tonnes of production thereafter.
- US$934 million post-tax NPV8 at an IRR of 55 percent.
The scoping study was underpinned by a sulphuric acid process allowing the company to achieve a new milestone by producing HPA with purity of more than than 99.99 percent (4N) from the metallurgical processing of lake clays acquired from Lake Hope. The company further identified a new proprietary metallurgical process for producing HPA from the lake clays. Known as the low-temperature leach (LTL) process, this also produced 99.99 percent (4N) Al2O3 and has the potential to lower even further the capital and operating costs to produce HPA compared to the sulphate process. The LTL process will be included in the ongoing pre-feasibility study along with the sulphate process to determine the best processing route to HPA. The PFS is due to be completed in late 2024.
Broken Hill Copper Project
The Broken Hill project has a significant land position of 815 square kilometers and hosts multiple targets with the potential for high-grade copper. Broken Hill is located in New South Wales, Australia, an area known for its prolific silver-lead-zinc mining operations and the giant Broken Hill deposit.
Project Highlights:
- Participant in the BHP Xplor Program: Impact was selected for the BHP Xplor program based on its Broken Hill project. The program is designed to allow participants to accelerate growth and establish a long-term partnership with BHP.
- Potential for Additional Minerals and Deposits: As well as copper, the project has significant exploration potential for magmatic nickel-copper-PGE sulphides, and at the time the host rocks were formed, Broken Hill was located close to the world-class nickel-copper-PGE deposit of Jinchuan and the significant Lengquisheng deposit. The project area also has the potential to contain zinc-lead-silver deposits, providing even more value.
Arkun Nickel-Copper-Gold-Lithium-REE Project
The Arkun project is a 2,900-square-kilometer nickel, copper and gold project located in the emerging Ni-Cu-PGE province near the world-class Julimar Ni-Cu-PGE deposit and surrounded by Anglo American Corporation, which secured its ground holding shortly after Impact secured its asset. Anglo-American is one of the world’s top ten mining companies, and their presence in the region brings confidence in the project’s potential.
Project Highlights:
- Additional Exploration Underway: Impact plans follow-up work programs, including drilling, at its priority targets.
- Significant Targets Identified: Recent soil sampling identified two new prospects:
- Hyperion prospect - Located in the northwestern part of the project area returned with rare earth element anomalism of up to 5,880 ppm (0.59 percent) total rare earth oxide (TREO+Y) and neodymium and praseodymium (Nd+Pr) of up to 21 percent.
- Caligula prospect - Initially identified on the roadside, the Caligula prospect is a large and significant target for porphyry copper mineralisation.
- Three New Exploration Licences: Impact applied for three new exploration licences expanding Arkun project along trend from the recently discovered REE soil geochemistry anomalies at Hyperion, Swordfish and Horseshoe as well as the Caligula copper anomaly.
Management Team
Peter Unsworth - Non-executive Chairman
Peter Unsworth, formerly a chartered accountant, has over 35 years of experience in the corporate finance, investment and securities industries and a wealth of management experience with public and private companies. A former executive director with a leading Western Australian stockbroking company, Unsworth has been a director of several public exploration and mining companies. He recently completed a long time serving as chairman of the Western Australian Government-owned Gold Corporation (operator of The Perth Mint). Unsworth is the founding chairman of Impact Minerals.
Dr. Mike Jones - Managing Director
Dr. Mike Jones is the founding managing director of Impact Minerals Limited, which was listed on the Australian Stock Exchange in November 2006. Reporting to the board of directors, he is responsible for the company's performance as it moves towards production at its Lake Hope High Purity Alumina Project and also for implementing strategies to explore and maximize the value of the company's other extensive tenement holdings.
Since listing, he has helped raise more than $60 million to help fund the exploration of Impact’s projects and managed the company through significant adverse events, including the global financial crisis and the Fukushima nuclear disaster, which affected Impact’s considerable investment in the uranium sector, a five-year global downturn in the mining sector and more recently, the COVID-19 pandemic.
Paul Ingram - Non-executive Director
Paul Ingram is a geologist with extensive experience managing major mineral exploration programs for several publicly listed companies and has been involved in the mining sector for over thirty years. He has designed and implemented innovative techniques for exploration in remote areas and has managed projects in countries throughout Australia and East Asia. Ingram has been a director of the following listed companies in the past three years: Polo Resources from January 2008 to January 2011; A-Cap Resources since June 2009; Consolidated Global Investments since September 2006; Caledon Resources from February 2003 to March 2008; and Australian Pacific Coal since March 2011.
Dr Frank Bierlein - Non-executive Director
Dr. Frank Bierlein is a geologist with 30 years of experience as a consultant, researcher, lecturer and industry professional. Bierlein has held exploration and generative geology management positions with QMSD Mining, Qatar Mining, Afmeco Australia and Areva NC, and consulted for, among others, Newmont Gold, Resolute Mining, Goldfields International, Freeport McMoRan, and the International Atomic Energy Agency. He is currently a non-executive director of PNX Metals. He was previously a non-executive director of Gold Australia NL and chaired the advisory board of a Luxembourg-based private equity fund between 2014 and 2021.
Prospect Ridge hires Investing News for ad campaign
Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR | OTC:PRRSF | FRA:OED) is pleased to announce that it has entered into an agreement with Dig Media Inc. dba Investing News Network ("INN") to provide an advertising and investor awareness campaign. INN will provide advertising on its website to increase awareness of the Company for an initial 12 month term, in consideration of $30,000. INN does not provide Investor Relations or Market Making services. INN is a private company headquartered in Vancouver, BC, Canada, dedicated to providing independent news and education to investors since 2007. The Company and INN are at arm's length. INN can be reached at 604-688-8231 or info@investingnews.com.
About Prospect Ridge Resources Corp.
Prospect Ridge Resources Corp. is a British Columbia based exploration and development company focused on gold exploration near the prolific Golden Triangle. Prospect Ridge's management and technical team, with over 100 years of accumulated mineral exploration experience, believe that the company's Knauss Creek and Holy Grail properties have the potential to extend the boundaries of the Golden Triangle to include this under-explored region.
Contact Information
Michael Iverson, CEO & Director
Telephone: 604.351.3351
Cautionary Statements
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain information and statements that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking information and statements can be identified by the use of forward-looking terminology such as "anticipates", "believes", "expects", "intends" and words of similar meaning and intent, and statements or phrases that certain actions, events or results "may", "could", "would", "should" or "will" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's beliefs, expectations and intentions. These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Newmont Publishes 2023 Sustainability Report and 2023 Tax & Royalties Report
Recognizing 20 Years of Transparent Sustainability Reporting
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today published its 2023 Sustainability Report and its 2023 Taxes and Royalties Contributions Report . The reports highlight the company's material ESG and socio-economic contributions over the past year. This year marks the 20 th anniversary for Newmont's Annual Sustainability Report, representing a milestone for the company as a longstanding industry leader in sustainability.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240417961090/en/
Newmont's 2023 Sustainability Report (Graphic: Business Wire)
"Our 2023 Sustainability Report demonstrates our unwavering commitment to responsible resource management and the integral role that Newmont plays in creating a more sustainable future," said Newmont Chief Safety and Sustainability Officer Suzy Retallack. "We recognize the responsibility we have to mitigate our environmental impact and make a difference in the areas we operate, while continuously working to improve, partner, and learn so that we leave a positive legacy."
Highlights of Newmont's 2023 Sustainability Report :
- Expanded our Fatality Risk Management program to address risks associated with exposures to hazardous dust and fumes
- Completed more than 650,000 critical control verifications to ensure the safety of our workforce
- Aligned all 11 priorities facilities across Newmont with the new Global Industry Standard on Tailings Management..
- Advanced the Respect at Work program, introducing a new Camp and Facilities Standard with inclusive site requirements and procedures.
- Increased female representation among senior leaders to 33 percent up from 31 percent in 2022, advancing our target of achieving gender parity in senior leadership by 2030.
- Reduced global freshwater consumption by 31 percent since 2018 and advanced work to incorporate climate projections into site water balance models.
- Fulfilled our $20 million commitment to support host communities and countries to address the impacts of the COVID-19 pandemic.
- Recognized for nine consecutive years as the #1 gold mining company on the Dow Jones Sustainability World Index;
- Ranked #29 and top mining company by 3BL's 100 Best Corporate Citizens list.
Newmont recognizes the most important measure of success is and will always be keeping everyone healthy and safe. The company is deeply saddened by the recent losses of colleagues at our Brucejack, Ahafo North, and Cerro Negro mines. We extend our sincere condolences to their families and friends. These tragic incidents are a reminder of the need to be eternally vigilant and work continuously to improve safety across the business.
Our commitment to sustainability is crucial to achieving our purpose of creating value and improving lives through sustainable and responsible mining. From supporting our workforce to implementing sustainable practices and meeting our financial obligations, we will continue striving for excellence in everything we do.
Newmont's 2023 Sustainability Report was prepared in accordance with the GRI (Global Reporting Initiative) Standards including the Mining and Metals Sector Supplement, and the Sustainability Accounting Standards Board (SASB) Metals & Mining Standard. The Report was externally assured on select publicly reported material data, reflecting Newmont's commitment to transparency and reporting obligations as a founding member of the International Council on Mining and Metals (ICMM), and as an early adopter of the UN Guiding Principles Reporting Framework.
Highlights of Newmont's 2023 Taxes and Royalties Contribution Report:
Our strong sustainability focus also delivered significant economic benefits for our stakeholders, as detailed in our third annual Taxes and Royalties Contribution Report . The report outlines our tax strategy and payments to communities and governments where we operate – revenue sources that foster development and economic stability in our host countries. In 2023 we:
- Paid $1.3 billion in taxes, royalties and other payments to governments, representing 13.3 percent of our total economic contribution.
- Distributed $9.8 billion in direct economic contributions, including wages and benefits, operating and capital spend, and community investments.
To learn more about Newmont's approach to sustainability and related disclosures, visit www.newmont.com/sustainability .
About Newmont
Newmont is the world's leading gold company and producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company and has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20240417961090/en/
Jennifer Pakradooni
globalcommunications@newmont.com
News Provided by Business Wire via QuoteMedia
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