Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX: GCY) is pleased to report the latest assay results from resource and exploration drilling at the Never Never Gold Deposit and nearby surrounding areas, part of the 100%-owned Dalgaranga Gold Project in Western Australia.
Key Points:
Assays have been received for a further seven Reverse Circulation (RC) and 22 diamond holes (DD/RCDD) targeting extensions of the Never Never Deposit, as well as strategic drilling targeting the extremities of the mineralised system to allow the Company to finalise a key Mineral Resource Estimate (“MRE”) upgrade, scheduled for completion by late July.
Drilling continues to provide further insights into the potential scale, significance and growth potential of the Never Never Deposit, with numerous high-grade intercepts returned outside the boundaries of the current Indicated and Inferred Mineral Resource Estimate (MRE) of 303,100 ounces at 4.64g/t Au (comprising 1.0Mt @ 2.45g/t for 86,500oz Au “Open Pit” (>0.5g/t Au) and 0.93Mt @ 7.22g/t for 216,600oz Au “Underground” (>2.0g/t Au)), as well as on the margins of the Inferred Resource. These results will all be incorporated into the upcoming MRE update for the Never Never Gold Deposit.
A further solid result from the emerging Hangingwall position, now referred to as the “Ink” prospect, has been received with drill-hole DGRC1232 returning 3.0m @ 10.07g/t gold. Significant assay results are summarised in the highlights above and in Figures 2 and 3, with full drill-hole details provided in Table 1.
The current phase of resource drilling at Never Never has now been completed, with assays from one diamond hole still awaited and expected to be received in the coming 1-2 weeks. Work has commenced on the MRE upgrade, with the updated MRE scheduled to be completed by late July 2023.
Management Comment
Gascoyne Managing Director and Chief Executive Officer, Simon Lawson, said: “This round of assays continues to build confidence in the impending resource upgrade for Never Never. The final phase of resource drilling was specifically designed to target and test the extremities of the Never Never Gold Deposit system as we want to know where the edges of the high-grade system are for the upcoming MRE update to give us the best possible understanding of the scale and extent of this high-grade system right in front of our process plant.
“Deeper drilling at Never Never has now paused while we complete the MRE upgrade. In the meantime, we have shifted our drilling focus to target other, shallower opportunities in the near-mine environment. We have been systematically working through historic drilling and resource estimation data and can confidently say that we have identified a number of new high-grade structural gold prospects which represent potential Never Never look-alikes or repeats. Two of these are located immediately south of Never Never directly underneath the Gilbey’s open pit and one along strike to the north.
"These high-grade prospects sit in a very similar structural position to Never Never – perpendicular to the north-south Gilbey’s stratigraphy, oriented in the same east-west direction – and they host high-silica, high-grade gold mineralisation. A small program testing the potential extension of the northernmost of the new targets has already been completed, with assays awaited. Further drill planning is underway to test both priority targets directly beneath, and adjacent to, the Gilbeys Pit during the September Quarter 2023.
“We will provide further information on these exciting targets in the near future, once we have completed our data compilation, drill targeting and see the results from the initial follow-up drilling. We are excited by the tremendous opportunity that we see across our tenure – at the incredible Never Never Gold Deposit, at the other shallow high-grade targets we see near Gilbeys, and several other similar positions within a 2km radius of our processing infrastructure.
“We are starting to see our aggressive drilling strategy targeting high-grade gold crystallise a pipeline of exploration targets through to development-ready resources directly in front of our established infrastructure. We will continue to leverage our growing understanding across our tenure and grow potential ore sources with the drill bit.”
Figure 1: Never Never resource and extensional drilling campaign. Three rigs operating within DMIRS approved and cleared Never Never Open Pit mining footprint – June 2023.
Never Never Drilling Update
Never Never is a new high-grade gold deposit which strikes and plunges to the west-south-west. The deposit was discovered while following up wide, high-grade drill intercepts from the earlier Gilbey’s North extension discovery immediately north of the Gilbey’s open pit at Dalgaranga and within 1km of the process plant.
Due to the high-grade and apparent scale of Never Never, this deposit now represents the foundation of the Company’s new operating and growth plan.
Never Never is distinct from the Gilbey’s North discovery due to considerable differences in tenor, thickness of mineralisation, mineralogy, scale, orientation and host structure/rock-type. Despite these differences, due to the close spatial association of the two deposits, the Never Never and Gilbey’s North deposits are collectively known as the “Never Never Gold Deposit”.
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This article includes content from Gascoyne Resources 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.
All amounts expressed in US dollars
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) Almost $12 billion of economic value generated by Barrick's mines last year remained in the countries in which it operates, according to the company's 2023 Sustainability Report published today.
Barrick president and chief executive Mark Bristow says real, tangible sustainability can only be achieved through a holistic approach aligned to the United Nation's Sustainable Development Goals. Barrick's conformance with ESG standards is a natural by-product of its sustainable business philosophy and not its driver.
"Barrick's distinctive approach to sustainability has evolved over many years, guided by the operational experience gained at its worldwide operations, the partnership philosophy at the heart of its business and the company's belief that all stakeholders should benefit from the value it creates," he says. In 2023, 97% of its employees were host country nationals and $43 million has been invested by the company's pioneering Community Development Committees (CDCs) in education, healthcare, food security, the environment, infrastructure and local economic development.
On the safety front, there was a 21% year-on-year improvement in Barrick's Lost Time Injury Frequency Rate with total injuries reducing from 2022. The company also recorded its lowest malaria incidence rate, a 33% year-on-year decrease from 17.86% in 2022 to 11.35% in 2023. "Our safety performance has been given additional focused attention with the establishment of new groupwide safety protocols to drive fatal risks down and achieve the zero target we have set ourselves," Bristow says.
Also in 2023, Barrick achieved the target it set for itself for 2025 of reducing its greenhouse gas emissions by 15%. Its Scope 1 and 2 greenhouse gas emissions have now been reduced by 16% against its 2018 baseline. Barrick will continue to reduce these emissions, with the long-term goal to be Net Zero by 2050. At the same time, it remains on track to achieve its Scope 3 emissions reduction targets which were set in consultation with its suppliers and service providers. Barrick also re-used or recycled 84% of the water it used in its operations, with an 85% recycle rate achieved at its water-stressed sites.
Barrick is also targeting no net loss on any Key Biodiversity Features (KBFs) identified at its sites and is contributing positively to the conservation of high-risk biodiversity features. "This is best illustrated by the successful, and ongoing, reintroduction of white rhinos to the Garamba National Park in the Democratic Republic of Congo. Today, these rhinos are safely roaming a park previously considered lost to poachers and nomad herders. Its restoration means that the surrounding communities can look forward to a secure future and one that holds the promise of eco-tourism's economic awards," says Bristow.
Enquiries
| Investor and Media Relations Kathy du Plessis +44 20 7557 7738 Email: barrick@dpapr.com |
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "committed", "vision", "strategy", "target", "roadmap", "strive", "objective", "goals", "seeks", "will", "can" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick's sustainability strategy and vision; Barrick climate strategy and approach to managing climate risks; Barrick's greenhouse gas emission reduction targets and ultimate aim to achieve net zero emissions by 2050, including by implementing the projects set out in its 2023 Sustainability Report; and Barrick's environmental, health and safety, corporate social responsibility and human rights programs, policies and performance, including regarding local community relations, economic contributions and education and employment initiatives.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: failure to comply with environmental and health and safety laws and regulations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations related to greenhouse gas emission levels, energy efficiency and reporting of risks; non-renewal of key licences by governmental authorities; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Canada, the United States and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; timing of receipt of, or failure to comply with, necessary permits and approvals; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; risks associated with illegal and artisanal mining; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; damage to the Company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company's handling of environmental matters or dealings with community groups, whether true or not; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; the impact of inflation, including global energy cost increases following the invasion of Ukraine by Russia and conflicts in the Middle East; litigation and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; risks associated with working with partners in jointly controlled assets; and employee relations including loss of key employees. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Key Highlights
Scorpio Gold Corporation (TSXV: SGN) (OTC Pink: SRCRF) (FSE: RY9) ("Scorpio Gold", "Scorpio", or the "Company") is pleased to announce the engagement of Daniel Kunz & Associates LLC ("Daniel Kunz & Associates" or "DKA") as technical consultants to lead the Company's exploration program at its Manhattan District Properties. DKA will be playing an integral role in the planning and execution of Scorpio's upcoming 2024 Manhattan exploration program, including extensive modelling of the 1,200 plus historic drillholes, targeting for the forthcoming drill program, and review and consolidation of historic data. The core goal of the 2024 Manhattan exploration program is to work towards a 43-101 compliant resource later this year.
Daniel & Kunz and Associates, founded and led by Daniel Kunz, is a mining consulting firm based in Boise, Idaho. Mr. Kunz has significant experience in international mining, engineering, and construction, including marketing, business development, management, accounting, finance, and operations. Mr. Kunz was Senior Vice President and Chief Operating Officer of Ivanhoe Mines Ltd. ("Ivanhoe Mines") from November 1997 until October 2000, and then was President, Chief Executive Officer and Director of Ivanhoe Mines from November 2000 until March 2003. Mr. Kunz was one of the driving forces in taking Ivanhoe Mines into Mongolia where, in 2001, the Company discovered Oyu Tolgoi, one of the world's largest copper-gold deposits. During his seven-year tenure, the market capitalization value of Ivanhoe Mines increased from $400 million to $4.4 billion.
More recently, Mr. Kunz was the founder, CEO, President and Director of Prime Mining Corp. ("Prime"), until he stepped down as CEO and President in January 2024. Mr. Kunz was instrumental in a number of significant milestones for Prime, including Prime's graduation to the main board of the Toronto Stock Exchange, its updated mineral resource estimate for the Los Reyes Project, and its inaugural sustainability report, as well as significant financings.
"Working with Dan and his team at DKA is a critical step for Scorpio as we move forward with exploration on Manhattan. Dan's background and proven track record of economic discoveries not only enhances our strategic planning, but also validates the immense potential and opportunity we see for value creation at the high-grade Manhattan District," said Zayn Kalyan, CEO of Scorpio.
Alongside Mr. Kunz, Peter Parsley, a senior associate with DKA, has been engaged to work on the Manhattan Exploration Program. Mr. Parsley brings a valuable knowledge base, skillset, and approach to the Manhattan District, having worked with Echo Bay Mines, the former operator of the Manhattan Mine in the 1980s. Mr. Parsley has over 38 years of varied experience in exploration, mine permitting, development, compliance, and mine disturbance reclamation. He also has extensive economic minerals experience and has had reporting responsibilities in both Canada and the United States. He worked for Tenneco Minerals Co. as Chief Geologist and was responsible for regional exploration programs and mine development in the Goldstrike District in southwestern Utah. He also conducted regional reconnaissance programs in Nevada for Tenneco Minerals.
About Scorpio Gold Corp.
Scorpio Gold holds a 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, USA. Scorpio's Manhattan District comprises the advanced exploration-stage Goldwedge Project, with a 400 ton per day gravity mill, and the adjacent 4,300-acre Manhattan Project, centered on two past-producing pits, acquired from Kinross in 2021. The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 100,000m+ of historical drilling, with significant resource potential, alongside valuable permitting. Scorpio Gold also holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada. Scorpio produced over 222,440oz of gold at Mineral Ridge between 2010 and 2020. With a proven and probable resource, valuable permits, water rights, infrastructure, and the recently acquired adjacent North Star exploration target, Mineral Ridge has significant near-term development potential.
ON BEHALF OF THE BOARD OF Scorpio Gold Corporation
Zayn Kalyan, Chief Executive Officer and Director
Tel: (604)-252-2672
Email: zayn@scorpiogold.com
Connect with Scorpio Gold:
Email | Website | Facebook | LinkedIn | X | YouTube
To register for investor updates please visit: scorpiogold.com
Forward-Looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding: the Company's exploration and drilling program on it's Goldwedge and Manhattan projects; the Company's engagement of DKA and the expected benefits of such engagement; the potential and opportunity for value creation at the high-grade Manhattan district; and work towards a 43-101 compliant resource this year. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR+. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209205
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Trojan Gold Inc. (CSE: TGII) (the "Company" or "Trojan") is pleased to announce that, further to the press release of the Company dated April 25, 2024, it has issued 5,000,000 common shares in the capital of the Company (the "Shares") to arms-length third parties, at a price of $0.05 per Share, as consideration for the assignment to Trojan of the option agreement disclosed in the press release noted above.
The Shares will be subject to a four-month and one-day hold period.
About Trojan Gold Inc.
Trojan is an active Ontario-based prospect generator junior exploration company, led by a team of professionals having exploration, engineering, project financing and permitting experience. Trojan has accumulated land positions in the Hemlo Gold Camp and Shebandowan Greenstone Belt which in management's view represent mineral exploration potential. For further information on the Company, please visit www.trojangold.com. Trojan is listed on the Canadian Securities Exchange under the symbol (CSE: TGII), on the OTC Pink Market under the ticker symbol TRJGF and on the Frankfurt Exchange under the symbol KC1.
For further information, please contact:
Charles J. Elbourne, President & CEO
Trojan Gold Inc.
82 Richmond St. East, Suite 401
Toronto, Ontario M5C 1P1
Telephone: 416-315-6490
Email: elbourne007@gmail.com
Website: www.trojangold.com
Further Information
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the future potential of the Company's mineral properties.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that the Company will have the resources, financial and otherwise, required to complete exploration activities on its properties as currently anticipated or at all.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to: the risk that the Company will not be able to proceed with anticipated exploration activities on its properties as anticipated or at all; risks relating to the junior mining industry; global economic trends; and other risks as described in the Company's public disclosure record at www.sedarplus.ca.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. The Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209164
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For full details please see the Tocvan Ventures news release dated May 14th, 2024 below:
Calgary, Alberta – May 14, 2024 – Tocvan Ventures Corp. (CSE: TOC) (OTCQB: TCVNF) (FSE: TV3) (the "Company"), is pleased to announce first drill results from its 2024 Reverse Circulation (RC) drill program at its road accessible Pilar Gold-Silver project in mine-friendly Sonora, Mexico. A total of 1,825.4 meters has been drilled to date in 15 drillholes.
Results today are highlighted by drillhole JES-24-77 which returned 56.4 meters of 1.0 g/t Au from 18.3 meters vertical depth, including 9.2 meters of 5.3 g/t Au. The entire length of the hole returned anomalous gold values averaging 76.3 meters of 0.8 g/t Au. A high-grade center to the mineralized zone returned 5.3 g/t Au and 3 g/t Ag over 9.2 meters, including 1.5 meters of 26.7 g/t Au. Like the Main Zone, the 4-T trend is exposed at surface along a rounded ridge top, allowing the potential for a low strip ratio during early development. The hole tested near-surface mineralization and was stopped at 76.3 meters, mineralization at 4-T remains open at depth. Results for eleven drill holes are currently pending analysis, including holes further northwest, along the 4-T trend.
"We are extremely excited with the results today highlighting the additional resource potential that exists along the several parallel trends to the Main Zone which we believe can be tied together into a sizable area," commented Brodie Sutherland, CEO. "Today's results are the best from the 4-T Trend to date and rank as a top five drill intersect in Tocvan's history of drilling at Pilar. Gold mineralization intersected in hole JES-24-77 is close to surface, projecting to workings exposed along a low rolling ridgeline much like the Main Zone. This allows for low-strip ratio potential in future mine development, reducing costs for extraction. We are confident the 4-T Trend will continue to develop into another key resource area for Pilar, being just 400 meters from the heart of our Main Zone. Part of our bulk sample was extracted from 4-T adding to that confidence of resource viability. More results from the trend are pending. As for our exploration drill targets, it is still early in testing these areas and the data available suggests more work is needed to fully evaluate and target mineralization. Surface mapping and geochemistry strongly suggests the known trends extend to the southeast and northwest, while new trends have yet to be tested. Recent sampling across the expansion area supports this thesis, indicating much more is to be uncovered."
Figure 1. Summary map of today's drill highlight and surrounding surface results. JES-24-77 returned 56.4m of 1.0 g/t Au, 400m east of the Main Zone trend.
In addition, three exploration holes on the southeastern flanks of known mineralization (JES-24-74, 75 and 76) are also included in this release, testing known areas of significant surface mineralization. Although anomalous intervals were encountered, no significant mineralization has been recorded yet.
Discussion of Results
JES-24-77
The drillhole targeted near surface mineralization vertically below the Four Trench (4-T) prospect. The Prospect gets its name from four trenches completed historically across a known area of artisanal underground workings. The prospect was first drilled in 1996 by Santa Catalina, a Lundin Company evaluating Pilar. First drilling hit 7.5 meters of 3.3 g/t Au and 31 g/t Ag in drillhole K-16 (hole was stopped at 7.5m). Follow-up drilling over 15 years later by a private operator returned 30.5 meters of 0.7 g/t Au (JESP-18). In 2021, Tocvan drilled 15.3 meters of 1.1 g/t Au along the same ridgeline 300 meters to the northwest. The result released today from JES-24-77 is the most significant result along the 4-T trend drilled to date and ranks as the fifth best drill result ever from the over 60 drillholes Tocvan has completed thus far at Pilar. JES-24-77 was a vertical drillhole testing the down-dip projection of surface mineralization, successfully intersecting several zones of low-grade gold and silver and one high-grade zone. Follow-up work is to be completed along this developing trend.
Exploration Drill Results
Drillholes JES-24-74 and 75 tested an area southeast of the Main Zone where local surface mineralization hosted along structures and veins had returned 5.1 g/t Au and 24 g/t Ag. Although no significant mineralization was recorded in these holes, anomalous values of silver warrant further investigation. Drillhole JES-24-76 tested the southernmost flank of the 4-T trend, alteration and veining was recorded in logging although no significant mineralization was recorded.
Figure 2. Pilar Project Planview map showing the southern block made up of the Pilar Main Zone and the newly discovered placer source with additional gold-silver mineralization extending to the south. Within the northern block, a large alteration zone that spans 3.3 km by 1.5 km (North Alteration Zone) has returned high-grade gold and silver values in the first few sampling programs across the newly acquired area.
Table 1. Summary of Drill Results Released Today from Pilar Project Drill Hole JES-24-77.
All interval lengths are drilled widths.
| Hole ID | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
| JES-24-77 | 0.00 | 76.25 | 76.25 | 0.75 | 0.91 |
| including | 18.30 | 74.73 | 56.43 | 1.00 | 1.10 |
| including | 27.45 | 36.60 | 9.15 | 5.25 | 2.51 |
| including | 35.08 | 36.60 | 1.52 | 26.79 | 4.92 |
Table 2. Drillhole locations released today.
| Hole ID | Azimuth | Dip | Depth (m) | Easting | Northing | Elevation (m) |
| JES-24-74 | 243 | 45 | 125.05 | 617666 | 3144245 | 421 |
| JES-24-75 | 060 | 45 | 128.10 | 617670 | 3144243 | 421 |
| JES-24-76 | 000 | 90 | 91.50 | 617927 | 3144475 | 437 |
| JES-24-77 | 000 | 90 | 76.25 | 617897 | 3144687 | 447 |
About the Pilar Property
The Pilar Gold-Silver property has returned some of the regions best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Initially three primary zones of mineralization were identified on the original property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. Each trend remains open to the southeast and north and new parallel zones have been discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. The Company has now expanded its interest in the area by consolidating 22 square-kilometers of highly prospective ground where it has already made significant surface discoveries.
Pilar Drill Highlights:
Pilar Bulk Sample Summary:
Additional Metallurgical Studies:
Quality Assurance / Quality Control
RC samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds five high potential precious metal projects: 1) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico's second largest major producer of gold on four sides, 2) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, and 3) three highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project, Jackie Gold & Silver Project, and Mezquite Gold & Silver Project.
For more information about all Company projects please visit: www.colibriresource.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
Impact’s Managing Director, Dr Mike Jones, said, “The results of the flora and fauna baseline surveys further confirm that the environmental impact of our proposed development of the Lake Hope alumina deposit will be exceptionally small. Given that mining will only leave a hole about one to two metres deep in the lake, the environmental risk and any post-mine rehabilitation are considered to be minimal at this stage.
We are also pleased to announce the appointment of Indigenous Services Australia to help with our discussions and negotiations with the Ngadju Aboriginal group upon whose lands the Lake Hope project is located. ISA played a pivotal role in negotiating a mining agreement between the Ngadju people and Sirius Resources (now IGO) for the Nova-Bollinger mine near Norseman.
In addition, we have appointed a well-respected and very experienced Feasibility Study manager for Lake Hope, Mr David English. David helped lead the teams that developed both the De Grussa copper mine (Sandfire Resources) and the Nova-Bollinger nickel-copper mine and he was instrumental in getting both projects to production in near-record times. David has already added significantly to the team and our forward plans, and we are on schedule to complete the PFS by the end of the year.
David’s appointment has allowed Roland Gotthard, who discovered Lake Hope and developed the metallurgical processes to produce HPA from lake mud, to focus on the metallurgical test work and accelerate end-product development. We look forward to announcing the results of that on-going work”.
Figure 1. Location of the Lake Hope Project (northernmost red star). Lake Hope is one of five exploration licences owned by Playa One Pty Limited, in which Impact has the right to earn an 80% interest (ASX Release March 21st 2023)
Baseline flora and fauna studies have not identified any Threatened or Priority species in and around the salt lakes that host the alumina-bearing mud at Impact Minerals Limited’s Lake Hope project, located 500 km east of Perth in Western Australia (Figure 1). Together with the already-received Heritage Clearance from the Ngadju Aboriginal people, this is a further significant milestone on Impact’s journey to producing High-Purity Alumina (HPA) from the aluminous mud at Lake Hope.
The surveys, which were undertaken by Biota Environmental Sciences, were completed in the spring season in late 2023 and were focused on E63/2086, which contains the Lake Hope alumina deposit. The studies covered the deposit, which lies in the top two metres of two salt pans and the surrounding areas, small areas of which will be required for site logistics, mainly haulage roads and stockpiles and temporary accommodation.
A few species that will require an environmental management plan are present in a few places close to some of the proposed site logistics but will not have a material effect on development. Further surveys will be completed in these areas and also along the route of the proposed haul road to the Norseman-Hyden road in due course.
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