Mink Ventures Corporation (TSXV: MINK) ("Mink" or the "Company") today announced an exploration progress update from its 40 km2 Montcalm nickel copper cobalt project, located adjacent to Glencore's historical Montcalm Mine, 65 km northwest of Timmins, Ontario. The Montcalm Mine had historical production of approximately 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co. (Ontario Geological Survey, Atkinson, 2010). In just over two weeks since beginning its exploration program, the Company has completed the following at its Montcalm Project (see accompanying Fig.2).
Significant advances in IP geophysical technology have enabled deeper penetrating systems with incredible clarity. The new IP systems allow for the production of 3D geophysical models of mineralized zones. Mink is benefitting from the work of previous operators who left numerous EM targets unexplained or untested in historical holes; these holes can now be probed with the new borehole IP technology. Borehole IP systems now have the capability to see a 250 meters radius around a bore hole and significantly below the end of the drill hole, which is an extremely cost-effective way of evaluating both disseminated and more massive targets at depth. The deepest known Ni Cu Co lenses at the Montcalm Mine are known to extend from approximately 250 to 400 meters vertical depth, which is well beyond the capability of many older surface EM systems.
Further, historical work at the Glencore mine site demonstrated that in addition to the higher-grade Ni Cu Co lenses, there is potential for disseminated mineralization. In some instances, this type of mineralization is associated with a magnetic high and no coincident electromagnetic (EM) response (ex. Hole MAC9731 see Fig.2). Numerous magnetic targets of this nature are present on Mink's claims both within the Hook Zone and across the southern portion of the property representing valid exploration targets.
Mink's claims cover very prospective geology including approximately 10 square km of the gabbro phase of the Montcalm gabbro complex. The gabbro phase of the complex hosted the former Montcalm mine (see Fig.1- light blue unit). Mink's project has excellent access and infrastructure including an all-weather road to the property, a series of logging roads throughout, as well as a power line, and proximity to the Timmins Mining Camp, enabling cost-effective mobilization and exploration. The Company has 14,928,257 shares outstanding.
Qualified Person
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
FIGURE 1: MONTCALM GABBRO COMPLEX GEOLOGY
FIGURE 2: COMPILATION MAP - MAGNETICS, HISTORIC DRILL HOLES & TARGET AREAS
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV: MINK) is a Canadian mineral exploration company exploring for battery metals (nickel, copper, cobalt) at its Montcalm project, which covers approximately 40 km2 adjacent to Glencore's former Montcalm Mine which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co. (Ont. Geological Survey, Atkinson, 2010. The project has excellent access and infrastructure with an all-weather access road and power as well as its proximity to the Timmins Mining Camp. The Company has 14,928,257 shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedar.com.
Forward-Looking Statements
This press release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, but not limited to, statements with respect to the common shares beginning trading on the TSXV. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and Mink disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All amounts in US dollars
Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) Since Kibali went into production 10 years ago it has not only grown into Africa's largest gold mine, it has also opened a new mining frontier in the DRC and stimulated the development of a thriving regional economy in the country's North-East province, says Mark Bristow, Barrick president and chief executive.
Speaking at a media visit to Kibali today, Bristow said the mutually beneficial partnership between the company and its local stakeholders, notably the government, contractors, service providers, employees and the community, had demonstrated that it was possible to build and operate a successful, world-class mine, run by host country nationals in one of Africa's remotest corners.
In the 13 years since the acquisition of the property which became Kibali, it has invested more than $4.6 billion in the DRC, with payments to: local contractors and suppliers alone amounting to almost $2.4 billion; $1.4 billion going to the government in the form of royalties, taxes and permits; salaries amounting to $621 million; and the investment of $196 million in infrastructure development and community support.
"Kibali has multiple partnerships with local businesses, many of which we have actively mentored, such as the all-Congolese team that built the mine's Azambi hydropower station," Bristow said.
"Kibali's three continuously upgraded hydropower stations and their battery back-up system have put it in the lead of the Barrick group's green energy drive. At present, approximately 80% of the mine's power requirement is provided by renewable energy sources and this will rise when the planned new solar plant is commissioned in 2025, further reducing Kibali's carbon footprint as well as its costs."
For the fourth successive year, exploration more than replaced the gold that Kibali mined in 2022, extending the mine's Tier One 1 production profile to 2033 and growing reserves to a level equivalent that in the original 2010 feasibility study, despite producing more than 6.4 million ounces of gold since commissioning 2 . It continues to explore for additional reserves to replace depletion at Kibali and for new growth opportunities elsewhere in the DRC.
The mine also continues to invest in the recruitment and training of Congolese nationals, who already account for 95% of its workforce and 76% of its leadership, with special emphasis on the skills development of potential managers and technicians.
The Barrick group is an industry leader in sustainability with a strategy that holistically links the management of challenges related to climate change, poverty and biodiversity loss. Kibali has a particular interest in the future of Africa's biodiversity and will write a new chapter in its long support for the DRC's Garamba National Park with the introduction of a sustainable population of white rhinos in partnership with African Parks and the DRC people.
Enquiries:
| DRC country manager Cyrille Mutombo +243 812 532 441 | Investor and Media Relations Kathy du Plessis +44 20 7557 7738 Email: barrick@dpapr.com |
Website: www.barrick.com
Endnote 1
A Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve.
Endnote 2
On a 100% basis. Refer to the Technical Report on the Kibali Mine, Democratic Republic of the Congo, dated March 18, 2022, and filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov on March 18, 2022.
Kibali Historical Total Mineral Reserves
| Proven | Probable | Total | ||||||||||||
| 100% Basis | Tonnes | Grade | Contained ozs | Tonnes | Grade | Contained ozs | Tonnes | Grade | Contained ozs | |||||
| Year | Gold Price Assumption | Project | (Mt) | (gm/t) | (Moz) | (Mt) | (gm/t) | (Moz) | (Mt) | (gm/t) | (Moz) | |||
| 2009 | $700/oz | Kibali | - | - | - | 42 | 4.03 | 5.5 | 42 | 4.03 | 5.5 | |||
| 2010 | $800/oz | Kibali | - | - | - | 74 | 4.21 | 10.1 | 74 | 4.21 | 10.1 | |||
| 2011 | $1,000/oz | Kibali | - | - | - | 79 | 4.04 | 10.2 | 79 | 4.04 | 10.2 | |||
| 2012 | $1,000/oz | Kibali | 3.6 | 3.24 | 0.4 | 79 | 4.14 | 10.5 | 83 | 4.10 | 10.9 | |||
| 2013 | $1,000/oz | Kibali | 5.5 | 2.28 | 0.4 | 84 | 4.15 | 11.2 | 89 | 4.04 | 11.6 | |||
| 2014 | $1,000/oz | Kibali | 5.4 | 1.76 | 0.3 | 78 | 4.28 | 10.7 | 83 | 4.12 | 11.0 | |||
| 2015 | $1,000/oz | Kibali | 4.0 | 1.84 | 0.2 | 76 | 4.25 | 10.4 | 80 | 4.13 | 10.6 | |||
| 2016 | $1,000/oz | Kibali | 4 | 1.90 | 0.3 | 66 | 4.17 | 8.9 | 71 | 4.03 | 9.2 | |||
| 2017 | $1,000/oz | Kibali | 19 | 4.07 | 2.5 | 47 | 4.10 | 6.2 | 66 | 4.09 | 8.7 | |||
| 2018 | $1,000/oz | Kibali | 20 | 4.15 | 2.7 | 42 | 4.12 | 5.6 | 63 | 4.13 | 8.3 | |||
| 2019 | $1,200/oz | Kibali | 21 | 4.13 | 2.7 | 48 | 4.23 | 6.5 | 68 | 4.20 | 9.2 | |||
| 2020 | $1,200/oz | Kibali | 20 | 4.34 | 2.8 | 56 | 3.66 | 6.6 | 76 | 3.84 | 9.4 | |||
| 2021 | $1,200/oz | Kibali | 32 | 3.76 | 3.9 | 51 | 3.50 | 5.8 | 83 | 3.60 | 9.6 | |||
| 2022 | $1,300/oz | Kibali | 32 | 3.47 | 3.6 | 65 | 3.15 | 6.6 | 97 | 3.26 | 10.2 | |||
As of January 1, 2019, Barrick owns 45% of Kibali as the operator, with AngloGold Ashanti owning 45% and Congolese parastatal Société Miniere de Kilo-Moto SA UNISARL (SOKIMO) held by the Minister of Portfolio of DRC owning 10%.
For 2019 onwards, estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Complete mineral reserve and resource data, including tonnes, grades, and ounces, as well as the assumptions on which the mineral reserves and resources for Barrick are reported (on an attributable basis), can be found on pages 37-46 of Barrick's 2022 Annual Information Form / Form 40-F on file with the Canadian provincial securities regulators on SEDAR at www.sedar.com and the Securities and Exchange Commission on EDGAR at www.sec.gov . Historical reserves for years prior to 2019 were estimated by Randgold Resources in accordance with the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the "JORC Code"). The JORC Code reporting standards are functionally equivalent to National Instrument 43-101.
Kibali Historical Production
| 100% Basis | ||||
| Year | Tonnes Milled (kt) | Head Grade (g/t) | Gold Produced (oz) | Recovery (%) |
| 2013 | 808 | 3.87 | 88,199 | 91.5 |
| 2014 | 5,546 | 3.81 | 526,627 | 79.0 |
| 2015 | 6,833 | 3.55 | 642,720 | 83.8 |
| 2016 | 7,299 | 3.10 | 586,530 | 79.8 |
| 2017 | 7,621 | 2.87 | 596,226 | 83.6 |
| 2018 | 8,218 | 3.45 | 807,251 | 88.6 |
| 2019 | 7,513 | 3.80 | 814,027 | 88.7 |
| 2020 | 7,632 | 3.68 | 808,134 | 89.4 |
| 2021 | 7,783 | 3.62 | 812,152 | 89.8 |
| 2022 | 7,815 | 3.39 | 749,589 | 88.4 |
| Total | 67,068 | 3.41 | 6,431,455 | 86.0 |
As of January 1, 2019, Barrick owns 45% of Kibali as the operator, with AngloGold Ashanti owning 45% and Congolese parastatal Société Miniere de Kilo-Moto SA UNISARL (SOKIMO) held by the Minister of Portfolio of DRC owning 10%.
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 "pioneer", "continue", "growth", "opportunities", "will", and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali's potential to continue to replace reserves net of depletion; production guidance and performance, including the extension of Kibali's production profile to 2033; opportunities for further growth at Kibali including potential new exploration targets for the Kibali underground; the potential to grow the mine's mineral resource base; Kibali's renewable power strategy and the timeline for the completion of a new solar plant and anticipated benefits from those initiatives; the anticipated benefits from Kibali's local recruitment and training initiatives, including the development of local managers and technicians; Barrick's sustainability strategy and investment in Africa's biodiversity including through the reintroduction of white rhinos to the Garamba national park; and Barrick's commitment to the DRC and potential further growth opportunities.
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: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company's expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; steps required prior to the distribution of cash and equivalents held at Kibali in banks in the Democratic Republic of Congo; risks associated with projects in the early stages of evaluation, and for which additional engineering and other analysis is required; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick's targeted investments and projects will meet the Company's capital allocation objectives and internal hurdle rate; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; 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; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; the impact of inflation, including global inflationary pressures driven by supply chain disruptions caused by the ongoing Covid-19 pandemic and global energy cost increases following the invasion of Ukraine by Russia; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the ongoing business and social disruption caused by the spread of Covid-19. 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.
Barrick disclaims 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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Stock Symbol: AEM (NYSE and TSX)
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (" Agnico Eagle " or the " Company ") today announced that it has filed an updated Technical Report for the LaRonde Complex in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects .
The technical report is available on SEDAR ( www.sedar.com ) and on the Company's website ( www.agnicoeagle.com ).
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company, producing precious metals from operations in Canada , Australia , Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States . Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. The Company was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
View original content: https://www.prnewswire.com/news-releases/agnico-eagle-files-technical-report-for-the-laronde-complex-301781416.html
SOURCE Agnico Eagle Mines Limited
View original content: http://www.newswire.ca/en/releases/archive/March2023/24/c2285.html
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Trailbreaker Resources (TSXV:TBK)) explores new opportunities to expand its portfolio, acquiring assets with strategic potential to bring significant shareholder value. The company’s business strategies are guided by a highly-skilled team of geologists and prospectors with a track record of discoveries.
The company focuses on underexplored and overlooked regions with significant upside potential. Maintaining this focus has led to acquiring a portfolio of assets with blue-sky potential as exploration continues.
The flagship Atsutla gold project is a new high-grade gold discovery in a region in BC with no previous gold exploration. The land package covers 400 square kilometers of ground, and the company has already defined five gold zones over 26 kilometers, while the majority of the asset remains unexplored. The company is awaiting its 43-101 Technical Report and moving towards its maiden drill campaign.
This Trailbreaker Resources profile is part of a paid investor education campaign.*
Click here to connect with Trailbreaker Resources (TSXV:TBK) to receive an Investor Presentation
Pan American Declares Dividend with Respect to the First Quarter of 2023
Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) (" Pan American ") and Yamana Gold Inc. (TSX: YRI; NYSE: AUY; LSE: AUY) (" Yamana ") are pleased to provide an update on the status of Pan American's proposed acquisition of all of the issued and outstanding common shares of Yamana, following the sale by Yamana of its Canadian assets, including certain subsidiaries and partnerships which hold Yamana's interests in the Canadian Malartic mine, to Agnico Eagle Mines Limited, all by way of a plan of arrangement (the " Arrangement ") under the Canada Business Corporations Act .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230324005121/en/
On March 23, 2023, the Mexican Federal Economic Competition Commission approved the Arrangement. All required regulatory, shareholder and court approvals, including the final court order, have now been received and the Arrangement is anticipated to be completed on or about March 31, 2023.
In addition, Pan American has declared a cash dividend of $0.10 per common share, payable on or about May 12, 2023, to holders of record of Pan American's common shares as of the close of markets on April 14, 2023. The dividends are eligible dividends for Canadian income tax purposes.
Pan American has selected this record and payment date to harmonize its dividend with respect to the first quarter of 2023 with Yamana's normal course dividend timing for payment of a first quarter dividend. Subsequent dividends to be declared by Pan American are expected to follow Pan American's previous schedule of dividend payments.
About Pan American Silver
Pan American Silver owns and operates silver and gold mines located in Mexico, Peru, Canada, Argentina and Bolivia. We also own the Escobal mine in Guatemala that is currently not operating. Pan American Silver provides enhanced exposure to silver through a large base of silver reserves and resources, as well as major catalysts to grow silver production. We have a 29-year history of operating in Latin America, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on NASDAQ and the Toronto Stock Exchange under the symbol "PAAS".
Learn more at panamericansilver.com.
About Yamana
Yamana Gold Inc. is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina.
Cautionary Note Regarding Forward-Looking Statements and Information
Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things, that the Arrangement is anticipated to be completed on or about March 31, 2023; and the record date of April 14, 2023, and the anticipated payment date of May 12, 2023, with respect to the dividend of Pan American.
These forward-looking statements and information reflect Pan American's and Yamana's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American and Yamana, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. Pan American and Yamana caution the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American and Yamana have made assumptions and estimates based on or related to many of these factors. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability of the parties to consummate the Arrangement; changes in laws, regulations and government practices in the jurisdictions where we operate; the possibility that transactions contemplated by the Arrangement Agreement will not be completed in the expected timeframe or at all; and those risk factors (i) identified under the heading "Risk Factors" in Pan American's management information circular dated December 20, 2022, (ii) identified under the heading "Risk Factors" in Yamana's management information circular dated December 20, 2022, (iii) identified under the heading "Risks Related to Pan American's Business" in Pan American's most recent annual report on form 40-F and annual information form dated February 22, 2023, and (iv) discussed or referred to Yamana's most recent annual report on form 40-F and annual information form dated March 28, 2022, filed with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities, as applicable. Although Pan American and Yamana have attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near and longer term prospects and may not be appropriate for other purposes. Pan American and Yamana do not intend, nor do they assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230324005121/en/
Siren Fisekci
VP, Investor Relations & Corporate Communications
Ph: 604-806-3191
Email: ir@panamericansilver.com
Investor Relations
416-815-0220
1-888-809-0925
Email: investor@yamana.com
FTI Consulting (UK Public Relations)
Sara Powell / Ben Brewerton
+44 7974 201 715223 / +44 203 727 1000
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