Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that it has received assays up to 56.9 gt gold (Au) from a newly identified zone at its Burchell Property ("the Property"), sampled during a prospecting and field reconnaissance program in November of this year. The high-grade sample was collected approximately 15 meters southwest of 2023 samples which returned between 0.04 and 0.51 gt Au. The zone has now been named the 111 (one-eleven) Zone. A geological sketch map of the outcrop exposure was made and three grab samples were collected along or near the zone during the 2024 program (see Table 1 below for coordinates, descriptions, and results). Assay results ranged from
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Manuka Strengthens Balance Sheet with Additional $1 Million
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Manuka Resources Limited
Overview
Manuka Resources Limited (ASX:MKR) is an ASX-listed mining company focused on gold and silver-gold projects in the Cobar Basin, one of Australia’s most prolific producers of base and precious metals. The company has 100 percent ownership of two fully permitted precious metals projects in the Cobar Basin - the Mt Boppy gold mine and Wonawinta silver project. In addition, MKR owns the Taranaki VTM iron sands project in New Zealand.
The company revealed a phased strategy focused on delivering maximum value to its shareholders. The first phase focuses on bringing back the Mt Boppy gold mine into production, and has released an optimised production plan for the mine restart. The second phase will involve restarting mining and production at the Wonawinta silver mine, while the third phase will see the development of the Taranaki vanadium titano-magnetite (VTM) project.
The Mt Boppy gold mine was historically one of the richest in NSW, Australia and produced ~500,000oz gold at an average grade of 15 grams per ton (g/t) gold. Accordingly, the company is very excited about its exploration potential.
The current focus is on establishing a processing plant at Mt Boppy and recommence on-site gold production from Q1 2025. The ore from the Mt Boppy mine was previously being processed at the 850,000 to 1 million tpa processing plant at Wonawinta, located nearly 150 kilometres south-west of Mt Boppy. This is about to change as MKR has determined that it could save significantly on transportation costs as well as production efficiencies by building an on-site processing plant at Mt Boppy, which will materially enhance the project economics.
MKR estimates the total cost of building the processing plant to be between AU$10 million and AU$15 million. Compared to this, the annual cost of hauling ore from Mt Boppy to Wonawinta is AU$6 million to AU$7 million (nearly 50 percent of the total capex). MKR anticipates Mt Boppy to deliver total EBITDA of >AU$90 million and cash flow of >AU$80 million over a five-year mine life. It is important to note that the current market capitalization of MKR is just AU$55.1 million, much lower than the anticipated five-year EBITDA and cash flow.
The initial five-year mine plan is largely focused on the screening and processing of gold-bearing waste material above ground on the Mt Boppy mine site. The company has been processing these wastes from June 2023 to December 2023 at its Wonawinta plant and now wants to optimize the process.
The cash flows from the Mt Boppy mine will be used to fund the restart of the Wonawinta silver mine, which is currently under care and maintenance. Wonawinta contains total resources of 38.8 million tons (Mt) at 42 g/t silver for 52.4 million ounces (Moz). Within this, there is a higher-grade component of 4.5 Mt at 97 g/t silver for 14 Moz. Manuka Resources is targeting a mineral resource update for Wonawinta in Q2 2024. The Wonawinta silver project will be the largest primary silver producer in Australia and expected to be back in silver production within 12 months.
The gold and silver market appears to be in an upward trend, with prices for both precious metals hitting their all-time high in 2024, which bodes very positively for MKR.
Company Highlights
- Manuka Resources is an ASX-listed mining company focused on exploring and developing gold and silver assets in the Cobar Basin in New South Wales, Australia.
- The company’s two principal assets – the Mt Boppy Gold Mine and the Wonawinta Silver Mine – are both located in the prolific Cobar Basin. In addition, MKR holds a 100 percent interest in the Taranaki VTM iron sands project, located in New Zealand.
- The primary focus is on bringing the fully permitted Mt Boppy mine back into production by Q1 2025. The company will establish an on-site processing plant at Mt Boppy and in turn free up the Wonawinta processing plant for silver production from the Wonawinta silver mine, which was being used to process Mt Boppy ore.
- The results of the recently completed sonic drill program coupled with an updated mineral resources estimate at Mt Boppy (100 percent increase in indicated gold ounces) improve confidence in the recommencement of gold dore production at Mt Boppy.
- A dedicated processing facility at Mt Boppy will improve the project economics and also allow for an additional revenue stream by freeing up the Wonawinta processing plant to process ore from the Wonawinta silver mine (placed on care and maintenance in February 2024).
- The cash flows from the Mt Boppy mine will be used to fund the planned restart of the Wonawinta silver mine.
- Elevated gold and silver prices should substantially benefit Manuka Resources, resulting in improved profitability and cash flows as it brings both its gold and silver projects into production.
Key Projects
Mt Boppy Gold Project
The Mt Boppy gold project comprises three mining leases, four gold leases and one exploration license, spanning an area of more than 210 sq km in the prolific Cobar Basin in New South Wales, Australia. The project was acquired by Manuka in 2019 and has a current mineral resource of 4.3 Mt at 1.19 g/t gold. This includes a combination of oxidized and transitional/fresh mineralization in the ground, as well as mineralized rock dumps and tailings.
Historically, Manuka Resources has processed its stockpiles and gold mineralized waste products through its Wonawinta processing plant. However, inefficiencies associated with trucking and processing ore at the distant Wonawinta plant has led the company to revise its strategy. It is now looking to construct a processing plant at Mt Boppy so that ore from the mine can be processed on-site. Mt Boppy has excellent infrastructure including a 48-person mine camp and is fully permitted for the proposed processing plant and on-site production.
As a precursor to the commencement of on-site production, Manuka Resources undertook a sonic drilling program at Mt Boppy to improve confidence in the mineral resource base. A 26-borehole, 506-meter sonic drilling evaluation program over the Mt Boppy rock dumps and dry tailings was completed in December 2023. The program led to a 100 percent increase in indicated resources compared to the previous estimate.
The updated mineral resource comprises 4.28 Mt at 1.19 g/t gold for 163 koz of contained gold, of which 82 percent is in the measured and indicated categories. A further high-grade subset of the resource (including open pit, rock dumps and tailings) comprising 1.8 Mt at 1.74 g/t containing 102 koz gold has been identified as a basis for future mine planning.
Following the results of the sonic drill program, MKR determined to establish a 200,000 tpa processing plant at Mt Boppy. The company estimates a five-year mine life and a total gold dore production of >48,000 oz over the initial mine life. The mine plan is fairly low in capex requirements with a total planned capital cost of AU$10 million to AU$15 million. Notably, the annual cost of ore haulage from Mt Boppy to Wonawinta plant is AU$6 million to AU$7 million. Thus, the on-site plant will offer significant cost savings and improve the project economics.
Manuka Resources anticipates Mt Boppy to deliver total EBITDA of >AU$90 million and cash flow of >AU$80 million over a five-year mine life.
Wonawinta Silver Mine Project
The Wonawinta silver mine project comprises one mining lease and seven exploration licenses spanning a total area of 920 sq. km. The Wonawinta project hosts a resource of 38.8 Mt @ 42.0 g/t silver, equating to 52.4 Moz contained silver. Within this there is a higher-grade component of 4.5 Mt at 97 g/t silver for 14 Moz silver.
The Wonawinta plant
The Wonawinta project is fully permitted with all the necessary infrastructure, including an 850,000 to 1 million tpa processing plant. The plant has been used for processing ore from Mt Boppy. The Wonawinta silver mine is currently under care and maintenance. The company is considering the possibility of resuming operations at Wonawinta, leveraging the improved silver price environment. Manuka is targeting a mineral resource update for Wonawinta by October 2024 and production in 2025.
Taranaki VTM Project
The Taranaki VTM project is located within New Zealand's exclusive economic zone, approximately 22 to 36 kilometres offshore, outside the 12 nautical mile boundary from the coastline. The project boasts a JORC resource of 3.2 billion tons at 10.17 percent iron oxide, 1.03 percent titanium dioxide and 0.05 percent vanadium oxide. It holds a mining license allowing initial extraction of 50 million tons annually, resulting in 5 million tons of VTM concentrate per year for 20 years (concentrate grade of 56 to 57 percent iron, 8.5 percent titanium dioxide and 0.5 percent vanadium pentoxide). At this extraction rate, the JORC resource provides approximately 60 years of potential mining inventory.
The project is anticipated to sit in the lowest quartile of the iron ore production cost curve. The next step for Manuka is to complete a bankable feasibility study on the project.
Management Team
Dennis Karp – Executive Chairman
Dennis Karp is a former commodities trader with nearly four decades of corporate experience. He started his career in 1983 and worked in HSBC until 1997 before moving to Tennant, one of Australia’s largest physical commodities trading companies with operations in Asia and Europe. He was a principal shareholder of Tennant Metals until 2010 and a managing director until December 2014. He founded ResCap in December 2014. Since then, he has participated in diverse resource projects and investment opportunities across base metals and bulk commodities. He holds a Bachelor of Commerce from the University of Cape Town.
Alan Eggers – Executive Director
Alan Eggers has over 40 years of experience in the mining sector. He is a geologist and was the founder of Summit Resources, which became an ASX top 200 company and was acquired by Paladin Energy in 2007 for AU$1.2 billion. Throughout his career, he has held director positions at numerous companies. He holds a Bachelor of Science, Honours, and Master of Science degrees from Victoria University of Wellington. He is recognized as a fellow of the Society of Economic Geologists and holds memberships in AusIMM and the Australian Institute of Geoscientists.
Anthony McPaul – Non-executive Director
Anthony McPaul possesses over 40 years of expertise in mining and mineral processing. He has overseen a diverse array of operational projects, spanning from base to precious metals, in both surface and underground mining operations. He has directly managed all facets of production and scheduling. He served in senior leadership roles at various companies, including CRA, Denehurst, MIM and, more recently, Newcrest. McPaul is currently the chairman of the NSW Minerals Council Board and Executive Committee, and he is also a member of the newly established Mineral Industry Advisory Council.
John Seton – Non-executive Director
John Seton is a lawyer with extensive experience in the mineral resources sector. He has served as director in several ASX and NZX listed companies. He holds a Bachelor of Laws from Victoria University, Wellington, and a Master of Law (Honours) from the University of Auckland and is a chartered fellow of the New Zealand Institute of Directors.
Haydn Lynch – Chief Operating Officer
Haydn Lynch has over 25 years of experience in M&A, capital markets and private equity. He has been involved in executing several domestic and cross-border transactions in various sectors including metals and mining, and industrials. He has held leadership roles in global investment banks, including Bankers Trust Australia, Investec Bank, RBC Capital Markets and Southern Cross Equities. He has undergraduate degrees in mechanical engineering and economics from the University of Queensland and a Master in Commerce from the University of New South Wales.
Rod Griffith – Mining and Technical Consultant
Rod Griffith has over 30 years of experience in the mining industry, both in Australia and internationally, working in senior management roles, including as chief operating officer and general manager. He has significant Central Western NSW experience with KBL Mining, Silver City Minerals, Girilambone Copper and Cobalt Blue, across a number of commodity groups and mining styles. He earned a Bachelor of Civil Engineering and Surveying from the University of Newcastle, along with a postgraduate diploma in mining engineering from the University of Ballarat.
Phil Bentley – Chief Geologist
Phil Bentley has over 40 years of experience in the mining industry across New Zealand, South Africa, and Australia, holding senior geological roles as well as senior management and director positions. He has worked as a Chief Geologist at Randgold Resources and Randgold & Exploration, Global Head of Exploration at Trafigura Mining Services, and Principal Geologist Africa at CSA Global South Africa. He is a Qualified person under NI 43-101 (Canadia) and JORC (Australia) and is a Fellow of the South African Geological Society. He holds a Bachelor of Science (Honours) in Geology at Victoria University of Wellington. He also has a Masters of Science in Economic Geology at Victoria University of Wellington and a Master’s of Science in Mineral Exploration from Rhodes University, Grahamstown South Africa.
Bold Ventures Identifies New Gold Zone at Its Burchell Gold and Copper Property
Table 1: 111 Zone 2024 Results | |||||||||
Sample | Date | Area | X (UTM Z15) | Y (UTM Z15) | Description | Assay Certificate No. | Au ppb1 (Fire Assay) | Au ppb2 (Fire Assay) | Au ppb3 (Photon Assay) |
C277089 | 2024-11-06 | 111 Zone area | 676832 | 5380323 | Strongly silicified mafic volcanic with 0.5% fine disseminated pyrite. Loose outcrop / frost heave. | A24-13987 | 2400 | 2670 | 2550 |
C277090 | 2024-11-06 | 111 Zone | 676832 | 5380320 | Strongly silicified mafic volcanic with 0.5-1% fine disseminated pyrite. Loose outcrop or frost heave adjacent to zone in outcrop, about 3m south of previous sample. | A24-13987 | 56300 | 56900 | 56800 |
C277091 | 2024-11-06 | 111 Zone | 676818 | 5380332 | Strongly silicified sericite schist. Angular boulder, likely talus from nearby slope. | A24-13987 | 48 | n/a | |
C277043 | n/a | n/a | n/a | n/a | Quartz pebble blank. | A24-13987 | n/a | n/a | |
C277044 | n/a | n/a | n/a | n/a | Standard OREAS 24d. | A24-13987 | n/a | n/a |
The 111 Zone is hosted in strongly silicified, sericitized, sheared mafic volcanics with generally See Figure 3). The package of rocks occupies a prominent northeast-trending magnetic low which may be traceable for up to 10.4 kilometers across the Property, possibly representing a geological structure. (See Figure 2).
QAQC Protocols
Grab samples were collected, documented and photographed in the field, then placed in sealed bags and delivered to Activation Laboratories (ActLabs) in Thunder Bay, which is an ISO / IEC 17025 accredited laboratory. Grab sample collection is subject to Bold's internal quality assurance / quality control (QAQC) protocols, which include the insertion of blank material and certified reference material into each batch of samples submitted. Samples referenced in this news release were analyzed using ActLabs methods 1A2-50, a 50g fire assay with atomic absorption finish, with over-limit results analyzed using method 1A3-50, a 50g fire assay with gravimetric finish. Sample rejects were analyzed using Actlabs method PhotonAssayTM, as an additional check on the gold results. Finally, samples were analyzed using ActLabs method 1F2, a 4-acid near total digestion with ICP-OES finish, yielding geochemical results for 35 elements.
Burchell Property Information
The Burchell Project ("the Project" or "the Property") is located approximately 100 km west of Thunder Bay, accessible by road south of Trans-Canada Highway 11. The Project is located in the Western Shebandowan Greenstone Belt, contiguous with Goldshore Resources Inc.'s (GSHR) Moss Gold Project which hosts the Moss Gold Deposit (Indicated Resource of 1.23 Moz Au at 1.22 g/t Au, Inferred Resource of 4.92 g/t Au at 1.09 g/t Au. (See Figure 1). The deposit lies within a major 25 km northeast-trending structural corridor which also hosts the past-producing North Coldstream Mine and the Osmani Gold deposit (See Figure 1). 1.8 km of this mineralized trend lies in the northwest corner of the Burchell Property, where historical diamond drilling intersected up to 0.9 g/t Au over 6.4 m, including 4.8 g/t Au over 0.3 m. (See Figure 2).
The Burchell Property is comprised of 242 claims totalling more than 4,500 hectares. Major mineral occurrences on the Property include:
The Hermia Cu-Au Prospect - Located in the western part of the property. Hosted in a zone of deformed felsic to mafic volcanics containing Cu mineralization associated with minor Au, Ag, Mo, Zn and Ni. Historical diamond drilling carried out over a strike length of 2.8 km from 1964 to 2008. Intersections in core include 1% Cu over 5.6 m and 1.68 g/t Au over 1.45 m. (See Figures 1 and 2).
Historical Trenches - Located in the southwest corner of the Burchell Property. Hosted in sheared felsic tuff to lapilli tuff with narrow quartz veining, yielding results up to 42.2 g/t Au over 0.6 m in a chip sample (Osmani 2017, see reference below). (See Figure 2).
The 111 Zone - Located in the central part of the Property. 3m+ wide gold-bearing zone in strongly silicified and sericitized, sheared mafic volcanics containing generally See Figures 2 and 3).
"We are extremely pleased with the new high-grade discovery, which adds significant value to the Burchell Project and gives the exploration team new target areas to focus on in the coming year," said Bruce MacLachlan, President and COO of Bold Ventures Inc.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo.,Vice President, Exploration of Bold and a qualified person (QP) for the purposes of NI 43-101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold Critical and Battery Minerals page.
References:
Osmani, A., 2017. NI 43-101 Technical Report on the Burchell Lake Property, Northwestern Ontario, Thunder Bay Mining District, NTS 52B/10SE, for Tanager Energy Inc.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.
"Bruce A MacLachlan" Bruce MacLachlan President and COO Direct line: (705) 266-0847 Email: bruce@boldventuresinc.com | "David B Graham" David Graham CEO |
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.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233458
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Vertex Power-up Gravity Gold Plant at Reward
Scandium diamond drilling underway at Murga
Vertex Minerals Limited Power-up Gravity Gold Plant at Reward
The processing facility rebuild, refurbishment and installation has progressed safely, efficiently and to plan, with the focus now turning to dry and wet commissioning of the respective operating circuits.
HIGHLIGHTS
- Vertex power up the newly installed Gravity Gold plant at the Reward Gold Mine.
- The Power generation units have now been installed and plugged into the Gravity plant.
- The plant components are now all installed and connected electrically.
- Completion of the dry stack tailing storage facility and tailings pipework installation.
- The plant can now be started up and mechanically tested and operated.
- Wet commissioning and ore feed commissioning will follow.
- Ore Sorter installation will be a retrofitted in early January
- Commissioning will be with stockpiled gold ore located alongside the gold plant
Vertex's Executive Chairman, Roger Jackson, said: "On time and within budget, the refurbishment and installation activities at the Reward gravity gold processing plant are almost complete with power up testing now underway. Our focus is now switching to dry and wet commissioning in the lead up to first gold next month. This is an exciting milestone for the company given the quality of the plant and the low capex required to get to this stage".
The Reward gold mine is well placed for a simple start -up:
- The new processing plant has been installed adjacent to the underground mine portal (640 Level) and over the existing footprint of the existing plant
- The 640 Level extends into the resource and no stripping required.
- Second egress in place with existing ladder way from 640 Level to surface.
- Some underground fleet and utility services are already owned by Vertex. With new fleet arriving.
*To view photographs, please visit:
https://abnnewswire.net/lnk/B92995G8
About Vertex Minerals Limited:
Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.
Source:
Vertex Minerals Limited
Contact:
Roger Jackson
Executive Chairman
roger@vertexminerals.com.au
Tully Richards
Technical Director
tully@vertexminerals.com.au
News Provided by ABN Newswire via QuoteMedia
Osisko Metals Announces Closing of C$107.4 Million "Bought Deal" Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Osisko Metals Incorporated (the " Company " or " Osisko Metals ") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: OB51) is pleased to announce that it has closed its previously-announced "bought deal" brokered private placement offering (the " Offering ") for aggregate gross proceeds of C$107.4 million, including the partial exercise the option granted to the Underwriters (as defined herein). In connection with the Offering, the Company issued an aggregate of (i) 70,326,229 flow-through units of the Company (" FT Units ") consisting of 64,215,117 FT Units at an issue price of C$0.50 per FT Unit and 6,111,112 FT Units at an issue price of C$0.54 per FT Unit, for aggregate gross proceeds of C$35,407,558.98 and (ii) 277,051,466 units of the Company (" HD Units ") at a price of C$0.26 per HD Unit, for aggregate gross proceeds of C$72,033,381.16.
Each FT Unit is comprised of one common share of the Company (each, a " Common Share ") and one-half of one Common Share purchase warrant of the Company (each whole warrant, a " Warrant "), each of which qualifies as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and 359.1 of the Taxation Act (Québec)). Each HD Unit consists of one Common Share and one-half of one Warrant. Each Warrant entitles the holder thereof to acquire one Common Share (each, a " Warrant Share ") at a price of C$0.35 per Warrant Share for a period of two years following the closing date of the Offering.
The Company intends to use the net proceeds from the HD Units towards the advancement of Company's assets in Québec and the Northwest Territories, including the advancement of the Gaspé Copper project to a construction decision, and for general corporate purposes. The gross proceeds from the FT Units will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" (as both terms are defined in the Income Tax Act (Canada)) (the " Qualifying Expenditures ") related to the Company's projects in Québec. All Qualifying Expenditures will be renounced in favour of the subscribers with an effective date no later than December 31, 2024. In addition, with respect to subscribers who are eligible individuals under the Taxation Act (Québec), the Qualifying Expenditures will also qualify for inclusion in the "exploration base relating to certain Québec exploration expenses" within the meaning of section 726.4.10 of the Taxation Act (Québec) and for inclusion in the "exploration base relating to certain Québec surface mining exploration expenses" within the meaning of section 726.4.17.2 of the Taxation Act (Québec).
The Offering was led by Canaccord Genuity Corp. as sole bookrunner together with BMO Nesbitt Burns Inc. and National Bank Financial, as lead underwriters, for and on behalf of a syndicate of underwriters that included Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and TD Securities Inc. (collectively, the " Underwriters "). In consideration for their services, the Underwriters were paid a cash commission equal to 5% of the gross proceeds of the Offering.
All securities issued under the Offering are subject to a hold period expiring four months and one day from the date hereof. The Offering remains subject to final acceptance of the TSX Venture Exchange.
Certain directors and officers of the Company subscribed for an aggregate 3,464,931 HD Units for aggregate gross proceeds of $900,882.06. Each director and officer of the Company is considered an "insider" of the Company and, as a result, their participation under the Offering is considered to be a "related party transaction" for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves insiders, is not more than 25% of the Company's market capitalization. Additionally, the Company is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves insiders, is not more than 25% of the Company's market capitalization. The Company did not file the material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation of insiders therein was not settled until shortly prior to the closing of the Offering, and the Company wished to close the Offering on an expedited basis for sound business reasons.
Certain incoming directors and officers of the Company have also subscribed for an aggregate of 11,208,144 HD Units under the Offering for an aggregate gross proceeds of $2,914,177.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Investor Rights Agreement
Concurrently with the closing of the Offering, the Company and a strategic investor (the " Strategic Investor ") entered into an investor rights agreement, pursuant to which the Strategic Investor has been granted certain rights, including the right to board representation in certain circumstances, the right to participate in future offerings of securities of the Company, and top-up rights, in each case subject to certain minimum ownership thresholds and certain other conditions.
Qualified Person
The scientific and technical information included in this news release has been reviewed and approved by Mr. Jeff Hussey, a director of the Company, and a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101 ").
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ' s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled " Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper ". Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ' s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq" . The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: info@osiskometals.com
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the ability for the Company to obtain the final approval of the TSX Venture Exchange; the anticipated use of proceeds of the Offering; the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company's trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system; and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Noble Minerals Announces Update to Drilling Results from Noble Minerals-Canada Nickel Joint Venture on Mann Twp
Positive results continue at Mann West with 28 of 31 holes with intervals greater than 0.3% nickel including 0.52% nickel over 37.5 metres in MAN24-61 within 0.28% nickel over 356 metres
New discovery at Mann South with MAN24-81 delivering 0.24% nickel over 508 metres
Several holes with anomalous PGM horizons such as 0.82 g/t platinum+palladium over 18.6 metres and 0.77 g/t platinum+palladium over 24.5 metres in MAN24-100C at Mann South
Toronto, Ontario – TheNewswire - December 11, 2024 – Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce results of a drill program on joint venture properties (ExploreCo) north of Timmins Ontario (See Canada Nickel Press Release dated December 11, 2024).
ExploreCo, the name of which will be announced in due course, will control 1,989 mining claims totaling approximately 42,000 hectares and will include nickel properties in Mann, Newmarket, and Reaume Townships as well as Calder, Galna, McCool, Moody, Mortimer, Stimson, and other properties currently held by Canada Nickel (see Figure 1, ExploreCo properties shown in purple).
Regional Map of ExploreCo Properties (purple)
Under the Binding Letter of Intent, the first $5 million of funding for ExploreCo will be provided from existing funds by Canada Nickel, after which costs will be funded by pro rata ownership basis, which will initially be 80% Canada Nickel and 20% Noble. Canada Nickel and Noble will continue to maintain their existing royalty rights on the ExploreCo claims, as will previous claim owners who had vended claims to Noble. (see NR July 8, 2024)
Commenting on the transaction under the Mann results to date, CEO of Noble said, " we are extremely pleased with the Mann results to date from the work carried out by Canada Nickel. We are in the final stages of completing agreements related to the creation of ExploreCo which hope to have finalized in the very near term."
Mann Property
The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane and is 80% owned by Canada Nickel and 20% by Noble Mineral Exploration. The Company has completed a drill program on four separate targets within the property in 2024, Mann North, Mann West (together formerly Mann Northwest), Mann Central and Mann South. (Figure 1). This release provides an assay update from 31 holes, 16 holes at Mann West, 11 holes at Mann South, and four holes at Mann Central. This property is part of the creation of an 'ExploreCo' subsidiary with Noble Mineral Exploration (see press release July 8, 2024) with Noble owning the other 20%.
Mann West
Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program completed focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled a total of 39 holes to date at Mann West (Figure 2), with 31 holes drilled during the 2024 program. With this drilling the company has completed the first phase of exploration that is required for an initial resource estimate expected by Q1 2025. Assays from 16 additional holes are presented in this release.
Figure 1 – Mann Properties
Table 1 – Drilling highlights Mann Properties
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
Mann West | ||||||||||
MAN24-42 | 9.0 | 345.2 | 336.2 | 0.24 | 0.012 | 0.004 | 0.007 | 0.20 | 6.40 | 0.068 |
and | 371.7 | 402.0 | 30.3 | 0.19 | 0.010 | 0.003 | 0.005 | 0.38 | 6.82 | 0.053 |
MAN24-61 | 17.8 | 374.3 | 356.5 | 0.28 | 0.012 | 0.033 | 0.017 | 0.26 | 5.98 | 0.133 |
including | 75.0 | 112.5 | 37.5 | 0.52 | 0.013 | 0.107 | 0.058 | 0.14 | 5.80 | 0.203 |
MAN24-70 | 18.0 | 501.0 | 483.0 | 0.24 | 0.011 | 0.007 | 0.008 | 0.27 | 6.12 | 0.067 |
including | 144.0 | 172.5 | 28.5 | 0.29 | 0.011 | 0.007 | 0.007 | 0.14 | 5.52 | 0.076 |
MAN24-73 | 74.2 | 500.4 | 426.2 | 0.25 | 0.012 | 0.009 | 0.009 | 0.25 | 6.30 | 0.061 |
MAN24-74 | 7.9 | 278.5 | 270.6 | 0.19 | 0.014 | 0.027 | 0.016 | 0.40 | 7.40 | 0.057 |
including | 25.5 | 31.5 | 6.0 | 0.31 | 0.013 | 0.028 | 0.013 | 0.82 | 6.67 | 0.125 |
and | 318.0 | 402.0 | 84.0 | 0.24 | 0.013 | 0.003 | 0.005 | 0.16 | 7.45 | 0.026 |
MAN24-76 | 12.6 | 495.0 | 482.4 | 0.26 | 0.011 | 0.011 | 0.010 | 0.16 | 5.95 | 0.042 |
including | 81.0 | 117.0 | 36.0 | 0.29 | 0.012 | 0.036 | 0.014 | 0.16 | 6.11 | 0.089 |
and | 162.0 | 196.5 | 34.5 | 0.31 | 0.011 | 0.010 | 0.012 | 0.13 | 5.24 | 0.024 |
MAN24-78 | 19.4 | 402.0 | 382.6 | 0.24 | 0.013 | 0.012 | 0.010 | 0.38 | 6.54 | 0.053 |
including | 261.0 | 294.0 | 33.0 | 0.30 | 0.013 | 0.031 | 0.021 | 0.52 | 6.67 | 0.100 |
including | 274.5 | 282.0 | 7.5 | 0.41 | 0.015 | 0.057 | 0.027 | 0.72 | 6.95 | 0.178 |
MAN24-82 | 22.0 | 481.5 | 459.5 | 0.21 | 0.012 | 0.017 | 0.016 | 0.37 | 6.76 | 0.047 |
including | 61.5 | 360.0 | 298.5 | 0.25 | 0.012 | 0.019 | 0.013 | 0.35 | 6.17 | 0.050 |
including | 255.0 | 277.5 | 22.5 | 0.30 | 0.013 | 0.025 | 0.014 | 0.58 | 5.91 | 0.069 |
MAN24-83 | 6.0 | 403.0 | 397.0 | 0.21 | 0.013 | 0.016 | 0.011 | 0.58 | 7.43 | 0.087 |
including | 144.0 | 195.9 | 51.9 | 0.27 | 0.014 | 0.030 | 0.024 | 0.68 | 7.87 | 0.064 |
and | 305.5 | 336.0 | 30.5 | 0.27 | 0.013 | 0.019 | 0.009 | 0.60 | 6.30 | 0.080 |
MAN24-85 | 69.0 | 493.0 | 424.0 | 0.25 | 0.012 | 0.012 | 0.008 | 0.26 | 6.25 | 0.042 |
MAN24-86 | 14.2 | 462.0 | 447.8 | 0.23 | 0.012 | 0.006 | 0.006 | 0.41 | 6.33 | 0.027 |
MAN24-89 | 99.0 | 191.2 | 92.2 | 0.22 | 0.012 | 0.013 | 0.009 | 0.47 | 6.71 | 0.042 |
and | 210.6 | 428.9 | 218.3 | 0.24 | 0.012 | 0.009 | 0.008 | 0.35 | 6.31 | 0.053 |
including | 386.0 | 395.0 | 9.0 | 0.35 | 0.013 | 0.054 | 0.020 | 0.75 | 6.45 | 0.120 |
MAN24-92 | 27.4 | 426.9 | 399.5 | 0.25 | 0.012 | 0.016 | 0.008 | 0.39 | 6.27 | 0.046 |
including | 267.0 | 286.5 | 19.5 | 0.34 | 0.015 | 0.083 | 0.034 | 0.66 | 6.57 | 0.114 |
and | 324.0 | 349.5 | 25.5 | 0.30 | 0.012 | 0.037 | 0.015 | 0.57 | 6.29 | 0.125 |
and | 433.6 | 501.0 | 67.4 | 0.20 | 0.013 | 0.013 | 0.021 | 0.50 | 7.35 | 0.047 |
MAN24-93 | 18.0 | 391.0 | 373.0 | 0.24 | 0.012 | 0.009 | 0.007 | 0.34 | 6.43 | 0.039 |
and | 406.8 | 470.0 | 63.2 | 0.16 | 0.011 | 0.005 | 0.004 | 0.36 | 7.34 | 0.031 |
MAN24-94 | 102.0 | 501.0 | 399.0 | 0.24 | 0.012 | 0.012 | 0.009 | 0.39 | 6.50 | 0.039 |
including | 400.5 | 415.5 | 15.0 | 0.30 | 0.011 | 0.044 | 0.021 | 0.57 | 6.57 | 0.083 |
MAN24-97 | 18.0 | 360.0 | 342.0 | 0.21 | 0.013 | 0.015 | 0.009 | 0.37 | 6.63 | 0.053 |
and | 406.5 | 501.0 | 94.5 | 0.23 | 0.012 | 0.003 | 0.003 | 0.39 | 7.10 | 0.021 |
*True width undetermined. All lengths are drillhole lengths.
Figure 2 – Mann West
Mann South
This target is approximately 5.9 kilometres long by up to 1.2 kilometres wide, having an arcuate and irregular shape, with an overall area of 4.1 square kilometres. The CNC drill program at Mann South started in August 2024 consisting of 20 drillholes, all of which intersected serpentinized peridotite and dunite. Assay results for 11 drillholes are provided in this release with nine drillhole assay results still pending. Mineralogical analyses are underway to help identify and prioritize the best areas, although almost half of the strike length of the target remains untested (Figure 3).
Table 2 – Mann South drilling Highlights
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
Mann South | ||||||||||
MAN24-66 | 39.0 | 139.5 | 100.5 | 0.23 | 0.013 | 0.003 | 0.003 | 0.29 | 8.03 | 0.070 |
and | 187.5 | 402.0 | 214.5 | 0.18 | 0.013 | 0.003 | 0.004 | 0.43 | 6.61 | 0.019 |
MAN24-72 | 54.5 | 501.0 | 446.5 | 0.20 | 0.013 | 0.005 | 0.006 | 0.43 | 6.80 | 0.019 |
MAN24-75 | 16.9 | 420.0 | 403.1 | 0.24 | 0.010 | 0.018 | 0.006 | 0.30 | 7.92 | 0.051 |
MAN24-77 | 39.0 | 46.0 | 7.0 | 0.44 | 0.017 | 0.051 | 0.126 | 0.57 | 9.28 | 0.036 |
and | 60.0 | 448.5 | 388.5 | 0.14 | 0.014 | 0.019 | 0.013 | 0.41 | 6.96 | 0.016 |
MAN24-81 | 44.3 | 552.0 | 507.7 | 0.24 | 0.011 | 0.003 | 0.003 | 0.38 | 7.55 | 0.056 |
MAN24-84 | 28.4 | 501.0 | 472.6 | 0.24 | 0.011 | 0.003 | 0.003 | 0.42 | 7.70 | 0.057 |
MAN24-90 | 49.3 | 501.0 | 451.7 | 0.23 | 0.012 | 0.004 | 0.005 | 0.37 | 6.33 | 0.015 |
MAN24-91 | 49.0 | 323.3 | 274.3 | 0.17 | 0.013 | 0.004 | 0.004 | 0.44 | 6.93 | 0.043 |
and | 338.7 | 483.0 | 144.3 | 0.22 | 0.012 | 0.003 | 0.003 | 0.37 | 6.13 | 0.021 |
MAN24-99 | 51.3 | 402.0 | 350.7 | 0.17 | 0.013 | 0.004 | 0.012 | 0.46 | 6.60 | 0.011 |
MAN24-100C | 21.0 | 112.4 | 91.4 | 0.16 | 0.014 | 0.036 | 0.096 | 0.37 | 7.46 | 0.010 |
and | 131.0 | 172.0 | 41.0 | 0.22 | 0.012 | 0.010 | 0.010 | 0.61 | 5.69 | 0.031 |
and | 340.5 | 378.4 | 37.9 | 0.19 | 0.013 | 0.005 | 0.003 | 0.56 | 6.52 | 0.027 |
MAN24-103 | 34.0 | 402.0 | 368 | 0.24 | 0.012 | 0.027 | 0.003 | 0.36 | 7.67 | 0.016 |
*True width undetermined. All lengths are drillhole lengths.
Figure 3 - Mann South
Mann Central
The outline of the ultramafic body at Mann Central is estimated by magnetics to be 4.5 kilometres long and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target was completed during the spring/summer of 2024 and now totals 32 drillholes, 27 of which were drilled during the 2024 program. Mineralization is more consistent near the center of the target over an area of 1.9 kilometres by 600 metres (1.1 square kilometres). This release provides an update for four drillholes (Table 3), all of which intersected peridotite.
Anomalous platinum group metals (PGM) consisting of platinum (Pt) and palladium (Pd) were identified in several holes, predominantly within pyroxenite units near the peridotite contacts on all properties (Table 4).
Table 3 – Mann Central drilling Highlights
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
Mann Central | ||||||||||
MAN24-41 | 111.9 | 153.0 | 41.1 | 0.18 | 0.012 | 0.004 | 0.005 | 0.52 | 7.42 | 0.096 |
MAN24-48 | 75.0 | 402.0 | 327.0 | 0.21 | 0.011 | 0.005 | 0.006 | 0.29 | 6.58 | 0.084 |
including | 148.5 | 157.5 | 9.0 | 0.35 | 0.015 | 0.019 | 0.008 | 0.14 | 8.73 | 0.199 |
MAN24-64 | 14.3 | 48.5 | 34.2 | 0.22 | 0.012 | 0.005 | 0.008 | 0.18 | 6.66 | 0.584 |
and | 55.8 | 334.9 | 279.1 | 0.19 | 0.012 | 0.014 | 0.017 | 0.40 | 7.00 | 0.053 |
MAN24-68 | 366.0 | 406.0 | 40.0 | 0.24 | 0.012 | 0.003 | 0.006 | 0.15 | 8.77 | 0.028 |
*True width undetermined. All lengths are drillhole lengths.
Table 4 – Mann Properties PGM Highlights
Hole ID | From (m) | To (m) | Length (m) | Pt+Pd (g/t) | Pd g/t) | Pt (g/t) | Ni (%) | Co (%) | Cr (%) | Fe (%) | S (%) |
Mann West | |||||||||||
MAN24-74 | 278.5 | 309.0 | 30.5 | 0.48 | 0.28 | 0.20 | 0.037 | 0.007 | 0.394 | 5.763 | 0.011 |
MAN24-82 | 481.5 | 501.0 | 19.5 | 0.52 | 0.28 | 0.24 | 0.024 | 0.007 | 0.324 | 5.919 | 0.014 |
MAN24-97 | 378.5 | 400.5 | 22 | 0.40 | 0.23 | 0.17 | 0.040 | 0.008 | 0.360 | 5.179 | 0.018 |
Mann South | |||||||||||
MAN24-66 | 160.0 | 180.7 | 20.7 | 0.49 | 0.33 | 0.16 | 0.026 | 0.005 | 0.362 | 3.957 | 0.017 |
MAN24-72 | 44.0 | 54.5 | 10.5 | 0.37 | 0.12 | 0.24 | 0.037 | 0.009 | 0.313 | 5.849 | 0.011 |
MAN24-77 | 37.0 | 60.0 | 23 | 0.55 | 0.16 | 0.39 | 0.216 | 0.012 | 0.409 | 6.386 | 0.016 |
and | 444.0 | 457.5 | 13.5 | 0.34 | 0.10 | 0.24 | 0.098 | 0.013 | 0.596 | 6.776 | 0.015 |
and | 492.0 | 529.5 | 37.5 | 0.35 | 0.14 | 0.21 | 0.055 | 0.008 | 0.499 | 5.450 | 0.008 |
MAN24-100C | 75.0 | 91.5 | 16.5 | 0.53 | 0.11 | 0.42 | 0.131 | 0.013 | 0.314 | 6.600 | 0.011 |
and | 112.4 | 131.0 | 18.6 | 0.82 | 0.31 | 0.51 | 0.064 | 0.009 | 0.474 | 5.288 | 0.006 |
and | 172.0 | 196.5 | 24.5 | 0.77 | 0.32 | 0.46 | 0.048 | 0.009 | 0.518 | 5.375 | 0.007 |
Mann Central | |||||||||||
MAN24-64 | 334.9 | 351.5 | 16.6 | 0.52 | 0.33 | 0.19 | 0.043 | 0.008 | 0.371 | 5.291 | 0.019 |
Figure 4 - Mann Central
Table 5: Drillhole Orientation
Hole ID | Easting ( mE) | Northing ( mN) | Azimuth (⁰) | Dip ( ⁰) | Length (m) |
MANN WEST | |||||
MAN24-42 | 496024 | 5411983 | 35 | -50 | 402 |
MAN24-61 | 496859 | 5412156 | 215 | -50 | 402 |
MAN24-70 | 496492 | 5412296 | 215 | -50 | 501 |
MAN24-73 | 496604 | 5412445 | 215 | -50 | 500 |
MAN24-74 | 495656 | 5412189 | 215 | -85 | 402 |
MAN24-76 | 496560 | 5412057 | 215 | -50 | 495 |
MAN24-78 | 495969 | 5412226 | 215 | -85 | 402 |
MAN24-82 | 495980 | 5412379 | 215 | -50 | 501 |
MAN24-83 | 496980 | 5412318 | 215 | -50 | 450 |
MAN24-85 | 496493 | 5412451 | 215 | -50 | 493 |
MAN24-86 | 496442 | 5411894 | 215 | -50 | 489 |
MAN24-89 | 496297 | 5412494 | 215 | -50 | 495 |
MAN24-92 | 496177 | 5412332 | 215 | -50 | 501 |
MAN24-93 | 496373 | 5412289 | 215 | -50 | 471 |
MAN24-94 | 496098 | 5412537 | 215 | -50 | 501 |
MAN24-97 | 495765 | 5412456 | 220 | -50 | 501 |
MANN SOUTH | |||||
MAN24-66 | 503460 | 5408195 | 35 | -50 | 402 |
MAN24-72 | 503650 | 5408420 | 35 | -50 | 501 |
MAN24-75 | 502081 | 5405730 | 55 | -50 | 420 |
MAN24-77 | 502345 | 5405431 | 50 | -50 | 540 |
MAN24-81 | 503460 | 5408195 | 220 | -50 | 552 |
MAN24-84 | 502406 | 5408781 | 35 | -50 | 501 |
MAN24-90 | 503140 | 5409045 | 35 | -50 | 501 |
MAN24-91 | 503358 | 5408852 | 35 | -50 | 483 |
MAN24-99 | 502349 | 5405667 | 55 | -50 | 402 |
MAN24-100C | 502169 | 5405546 | 55 | -50 | 378 |
MAN24-103 | 501960 | 5405890 | 55 | -50 | 402 |
MANN CENTRAL | |||||
MAN24-41 | 498466 | 5410751 | 145 | -55 | 153 |
MAN24-48 | 498066 | 5410676 | 180 | -50 | 402 |
MAN24-64 | 498058 | 5410435 | 180 | -50 | 406 |
MAN24-68 | 497871 | 5410435 | 180 | -50 | 402 |
Quality Assurance and Control, Drilling and Assaying
Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby or SGS Callao (Peru). All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.
Qualified Person and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc .
Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and Lode Gold Resources Inc . , and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at:
www.noblemineralexploration.com .
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
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