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Anax Metals Limited Investor Kit
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Anax Metals Limited
Investor Insight
Anax Metals, an ASX-listed exploration company, is dedicated to advancing its copper assets in Western Australia’s Pilbara region. Through key joint ventures and strategic partnerships, the company is well-positioned to develop a central processing hub, enhancing operational efficiency and delivering strong investor value.
Overview
Anax Metals (ASX:ANX) is a project developer that is on track to begin producing copper and zinc concentrates from its flagship Whim Creek project in the Pilbara region of Western Australia. The project is 80 percent owned by Anax, with JV partner Develop Global (Develop) owning the remaining 20 percent. The Whim Creek DFS (and leaching study) have demonstrated the opportunity for an eight-year mining operation producing copper concentrates, cathodes and valuable byproducts. The operation will generate $410 million in cash flow and deliver an NPV of $270 million with a development capex of $71 million.
The company believes its growth potential lies both in expanding the mineral resources across the project’s four deposits and in a consolidation strategy that includes a processing hub with a concentrator and heap leach at Whim Creek. Benefits from the consolidation include delivering economies of scale with processing flexibility to treat ores from regional orebodies. The permitted infrastructure is ideally located and suited to becoming the Pilbara-processing hub.
Anax Metals and GreenTech Metals signed a non-binding and non-exclusive memorandum of understanding to assess the potential to treat mined material from GreenTech’s base metal assets, with a focus on the open-pittable Whundo deposit.
Anax Metals also signed a non-binding and non-exclusive memorandum of understanding (MoU) with Artemis Resources (ASX:ARV) to jointly assess the potential for processing the copper content of Artemis’ open-pittable Greater Carlow resource at the fully-permitted Whim Creek Processing hub. Anax and Artemis also agree to evaluate the potential for Artemis to explore for gold mineralisation on the Anax project tenure.
Company Highlights
- Anax Metals focuses on delivering copper production at the Whim Creek copper-zinc project within the next 18 to 24 months, targeting over $400 million in free cash flow across an eight-year mine life.
- The company aims to drive resource expansion and consolidate copper assets in the Pilbara region by developing a central processing hub.
- Since completing the DFS last year, Anax Metals has been evaluating opportunities to increase Whim Creek’s production capacity beyond 20 kt of copper equivalent per year.
- Capital requirements are expected to remain low, with plans to leverage existing infrastructure and deploy preconcentration technology to optimize processing capacity..
- Anax Metals actively collaborates with key partners, including Develop Global (ASX:DVP), Greentech Metals (ASX:GRE), and several metal trading groups.
Key Projects
Whim Creek Copper-Zinc Project
Whim Creek is strategically located along the NW Coastal Highway in Western Australia’s Pilbara region, approximately 120 km from both Port Hedland and Karratha. With a long history of copper production, the project benefits from existing infrastructure, including dams, haul roads, offices, workshops, and a dedicated gas spur line. Currently being developed as an 80/20 joint venture between Anax Metals and Develop Global, Whim Creek hosts four key deposits—Whim Creek, Mons Cupri, Salt Creek, and Evelyn. These deposits feature structurally controlled, volcanic-hosted massive sulphide copper-zinc-lead mineralization, presenting significant development potential.
On-going exploration work at Evelyn resulted in discovering exciting new targets for future drilling campaigns scheduled in early 2025. Exploration works conducted in 2024 indicated high copper grades and new soil anomalies. The company is assessing the regional potential of the granted Evelyn Mining Lease for further high-grade VMS-type, polymetallic base metal deposits.
Anax Metals announced its recent application for an exploration license (E47/5275) covering 65 sub-blocks spanning approximately 207 sq. km, which extends the company’s landholding to the south and west of the Whim Creek joint venture tenement package. Once granted, the new tenement will be 100 percent owned by Anax. The majority of E47/5275 lies within the Whim Creek Greenstone Belt, which is highly prospective for volcanogenic massive sulphide (VMS) mineralization, similar to the Whim Creek and Mons Cupri deposits.
Production – Concentrator and Heap Leach
Since completing the definitive feasibility study in 2023, Anax has promoted Whim Creek as a regional processing hub, with potential for an expanded production capacity over 20 kt copper equivalent. Highlights of the technical report include FCF generation of $410 million over an eight-year mine life. Processing would be predominantly through the planned concentrator. Heap leaching is anticipated to begin in the second year of production.
Anax has achieved significant success with bioleaching technology, reporting up to 80 percent copper and 90 percent zinc extraction rates. This innovative approach enhances metal recovery and supports the company’s commitment to sustainable practices.
A processing hub with sorting, concentrator and heap leach facilities
The company believes the project will also provide a processing solution for surrounding projects located within trucking distance of Anax’s processing facility. In the long term, Anax plans to establish a Pilbara Base Metal Alliance to facilitate collaboration with other base metal projects in the region.
Management Team
Phillip Jackson - Chairman
Phillip Jackson is a barrister and solicitor with significant legal and international corporate experience, Phillip Jackson specialises in commercial and contract law, mining and energy law and corporate governance. He has been a director and chairman of a number of ASX and AIM listed minerals companies.
Geoff Laing - Managing Director
Geoff Laing is a chemical engineer with 30 years in mining and project development. He has been involved in the exploration and junior mining sector for the last 15 years, taking on corporate and advisory roles. He was a key player in Exco Resources’ divestment of a substantial copper asset for $175 million to Xstrata Copper, and as managing director, he delivered the successful takeover of the company by WH Sol Pattinson.
Peter Cordin - Non-executive Director
Peter Cordin is a civil engineer with over 45 years' global experience in mining and exploration, both at operational and senior management levels. He has direct experience in the construction and management of diamond and gold operations in Australia, Fenno-Scandinavia and Indonesia.
Phil Warren - Non-executive Director
Phil Warren is a chartered accountant with over 25 years’ experience in board governance, corporate advisory and capital raising advice. Warren has spent a number of years working overseas for major international investment banks. He is currently a non-executive director of ASX listed companies, including Family Zone Cyber Safety, Narryer Metals, Killi Resource and Rent.com.au. He was a founding director of Cassini Resources, which was subsequently acquired by Oz Minerals.
Jenine Owen - Chief Financial Officer
Jenine Owen joined Anax in 2020, where she is responsible for corporate risk management, financial management and financial reporting. She is a chartered accountant with extensive finance and commercial experience, including several CFO roles in ASX listed entities. Having started her career with Deloitte (Zimbabwe) in the external assurance division, she moved to London in 1999 where she held various finance and governance roles before settling in Australia in 2008. Prior to joining Anax, Owen was CFO at Predictive Discovery (ASX:PDI).
Andrew Mcdonald - General Manager
Andrew McDonald is a seasoned geologist with over 20 years of experience in project management, development, resource geology, and exploration across a wide range of commodities. He has held roles with several ASX-listed mining companies, where he has led project development and managed regulatory approvals for mining projects in both Australia and the United States.
Dan O’Hara – Environmental Manager
Dan O’Hara is an experienced environmental professional with over 15 years in environmental management across the mining, oil and gas, construction, and government sectors. In recent years, he has played a key role in securing environmental permits for mining projects in Western Australia.
Near-term copper producer targeting resource growth and a regional consolidation strategy
Heritage Announces LIFE Offering and Provides Corporate and Exploration Update
VANCOUVER, BC TheNewswire - July 22, 2025 Heritage Mining Ltd. (CSE: HML FRA: Y66) (" Heritage " or the " Company ") is pleased to announce a non-brokered offering of up to 18,187,725 units (the " LIFE Offering ") for gross proceeds of up to C$636,570 with a lead order from a strategic investor of ~C$450,000. The Company is also pleased to announce it has entered into an asset purchase agreement with Advanced Gold Exploration Inc. to acquire a 75% interest in the Melba Mine (a former past producer from early-mid 1900's) which, subject to the satisfaction of conditions precedent and due diligence, will facilitate the Company's entrance into the Kirkland Lake Gold District. The Company also provides an exploration update on its Drayton-Black Lake and Contact Bay projects.
July 2025 Corporate Update Highlights
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LIFE Offering announced with a lead order from a strategic investor totaling ~C$450,000.
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Heritage enters the Kirkland Lake Camp via its purchase of a 75% interest in the Melba Mine, pending satisfaction of conditions precedent including technical due diligence and site visit (Figure 1). Highlights of the Melba Mine project include:
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In 1936, Melba Gold Mines Limited drilled 20 diamond holes that intersected the Blue Vein with visible gold reported in 10 of the first 18 holes (Assessment Diamond Drilling Report, May 15, 2023).
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In 1939, The Teck-Hughes Mines Limited channeled and took a 4-ton bulk sample over 60 feet on the Blue Vein. The channel sample gave 10.327 ounces gold per ton over 4.5 feet and the bulk sample gave 0.210 ounces gold per ton (Assessment Diamond Drilling Report, May 15, 2023).
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2,000 tonnes of "mined material" from underground workings that are on surface and with a complementing mining lease (Assessment Diamond Drilling Report, May 15, 2023).
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July 2025 Exploration Update Highlights
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Drilling at Drayton-Black Lake (" DBL ") – Zone 3 Extension confirms gold mineralization in a broad quartz vein structure as initially reported in Heritage's press release dated May 15, 2025.
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DBL – Zone 3 Extension drilling intersected multiple zones of locally anomalous gold mineralization in drill hole HML25-011 associated with a 46m wide quartz zone, including 0.95 g/t Au over 1m from 237.00m; and
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Zone 3 Extension drill hole HML25-012 tested a different magnetic lineament at the periphery at the Lake of the Bays Batholith and the contact zone of this batholithic body. Two n arrow zones of up to 0.43 g/t Au over 1m were intersected.
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Drilling at Contact Bay is completed. A total of 10 holes for 2,726m were drilled with assays pending.
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Drill holes locally intersected narrow quartz sulfide veins and visible gold was observed on one drill hole RGN25-004 (Figure 4).
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"We are pleased to welcome a new strategic shareholder, who aligns with Heritage's view that systematic active exploration across all properties is the key driver. We look forward to generating value to all stakeholders.
The proposed Melba Mine acquisition (pending due diligence) offers the Company exposure to the well-known mining camp (Kirkland Lake and Timmins). We look forward to applying our active systemic exploration approach to this area in short order post-acquisition.
Although assays remain pending from Zone 3 Extension at DBL and Contact Bay we appreciate the technical success and confirmation of anomalous gold in a new area never before prospected in the Sioux Lookout Area. This is the broadest quartz vein ever intersected within the Sioux Lookout District and warrants further drilling and evaluation along strike." Commented Peter Schloo, President CEO, and Director of Heritage
2025 Corporate Update
The Company has concurrently filed an offering document in respect of the LIFE Offering (the " Offering Document ") on its profile on SEDAR+. The following is a brief summary of the terms of the LIFE Offering but investors should review the Offering Document in detail prior to making an investment decision:
Offering:
A non- brokered "best-efforts basis" private placement financing of up to 18,187,725 units (the " LIFE Offering ") for gross proceeds of up to $635,570 for units of the Company (each, a " Unit ") at a price of $0.035 per Unit, with each Unit being comprised of one (1) common share of the Company (each a " Common Share ") and one (1) common share purchase warrant (a " Warrant ") granting the holder the right to purchase one (1) additional Common Share of the Company (a " Warrant Share ") at a price of $0.05 at any time on or before 36 months from the Closing Date (as defined herein), which securities shall be offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 ").
Offering Price:
The Offered Securities shall be offered at the price of $0.035 per Unit.
Offering Amount:
The maximum offering amount under the LIFE Offering shall be for aggregate proceeds of $636,570, assuming full subscription pursuant to the LIFE Offering and the full exercise of the Broker's Units (as defined below). There is no minimum offering amount pursuant to the LIFE Offering .
The maximum number of securities issuable under the LIFE Offering consists of an aggregate of up to 18,187,725 Units for gross proceeds of up to $636,570.
Closing Date: The closing of the LIFE Offering (the " Closing Date ") is expected to take place on or about July 31, 2025.
Fees and Commissions
Cash fee and broker warrants, as detailed below.
Cash Fee: The Company will pay cash fees equal to 7.0% of gross proceeds raised in respect of the Offering.
Broker Units: The Company will issue broker units (each a " Broker Unit ") equal to 7% of the Units sold under the Offering at an exercise price equal to $0.035 per Broker Unit, with each Broker Unit consisting of one (1) Common Share and one (1) Broker Warrant, with each Broker Warrant granting the holder the right to purchase one (1) additional Common Share of the Company (each, a " Warrant Share ").
Melba Asset Purchase Agreement Summary:
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The consideration payable by Heritage to the Vendor for the 75% ownership interest in the Melba Mine shall be C$40,000 payable in cash to the Vendor for technical services over a 8 month period payable in equal C$5,000 monthly instalments, with the first instalment payable on the Closing Date (the Cash Consideration "). Heritage also agrees to pay the Vendor the Consideration Shares (as defined below)(the Cash Consideration and the Consideration Shares collectively being the " Purchase Price ").
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In addition to the Cash Consideration and the Consideration Share (as defined below), Heritage will pay to the Vender a deposit of C$5,000 on signing of the Purchase Agreement and an additional C$5,000 within 30 days from signing of the Purchase Agreement.
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Heritage shall issue the Vendor Common Shares having a deemed value of C$350,000 Consideration Shares ") at a price per Consideration Share equal to the closing price of the Common Shares in the capital of Heritage on the trading day preceding the Closing Date and subject to the following release schedule (which the Vendor hereby agrees will be reflected in restrictive legends applied to the certificates representing the Consideration Shares):
(a) 25% of the Consideration Shares released on Closing Date;
(b) 25% of the Consideration Shares released on the date that is 90 days after the Closing Date;
(c) 25% of the Consideration Shares released on the date that is 180 days after the Closing Date; and
(d) 25% of the Consideration Shares released on the date that is 270 days after the Closing Date.
Closing of the acquisition is subject to customary conditions precedent for a transaction of this nature, including the approval of the Canadian Securities Exchange.
Melba Mine Property Description
The Melba Mine is located in Northwestern, Ontario, Canada Southwest of Matheson Ontario (Figure One) approximately seven kilometres west off the King's Highway 11, on the section of highway travelling from Kirkland Lake to Cochrane. The Melba Mine is located on the west central part of Ontario close to the Ontario and Quebec border. It's fortunate the location of the Melba Property lies within the central hub of over 100 years of mining activities, including active mining operations within the Abitibi Greenstone Belt.
The claim package includes single cell mining claims spanning 1,522.70 hectares and one mining lease.
Property Geology
The governing element of structure appears to be a contact between dioritic greenstone to the south and argillaceous greywacke to the north. The contact trends north 50-60 degrees west and dips northward. Whether the greywacke is part of a synclinal trough of sediments that are younger than the greenstone or whether it is part of a sedimentary band belonging to the greenstone series is an unknown factor at present. The greywacke is cut by dikes of porphyry that run parallel to the contact. The main gold bearing vein, usually described as the "Blue Vein", also runs parallel to the contact but lies within the sediments. It strikes north 55 degrees west and dips northward 55 degrees. It is accompanied by shearing and alteration, also by a pattern of cross fracturing that has produced faulting in the main vein and has led to the development of irregular veins in the adjacent rocks. The main vein is displaced 60 feet (18.2 metres) northward near the shaft and other displacements have been found underground. The picture resembles that of the sedimentary belt in the Beatty-Munro area. Numerous feldspar porphyry, diorite and basic syenite dikes were intersected by the drilling. Overall, a significant amount of the drill core showed alteration, some highly, while carbonate stringers were numerous and visible gold was noted in drill core.
Click Image To View Full Size
Figure 1: Property Map – Melba Mine
2025 Exploration Update
Assays were delayed due to operational issues at the lab and core shack facilities; corrective measures have been implemented, and normal operations are expected to resume shortly.
Discussion of Results
DBL – Zone 3 Extension
The 2025 drill program at Zone 3 Extension targeted granite-hosted mineralised quartz-vein structures that were first observed in the HML Zone 3 drilling program of August 2024 (Figure 3). The recently completed program comprised 4 holes for a total 1105.5m targeting a northeast-southwest trending magnetic lineament. Drilling is considered a technical success with two ( HML25-011 and 013 ) of the four holes intersecting a well-developed quartz vein structure, including drill hole HML25-013 that intersected a 74m wide vein structure (true width unknown). Assays received for HML25-010, 011 and 012, with assays pending for HML25-013 & 014.
Assays for HML25-010 & 011 confirm locally elevated gold values in the vein structure, with the best intersection of 0.95g/t gold over 1 meter in drill hole HML25-011 (Figure 2). Although gold mineralization is low grade, significant exploration potential remains along strike of this well-defined linear mag feature, and further drilling is proposed to test this "mega-quartz vein structure".
HML25-011 Highlights:
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0.07 g/t Au over 5.5m from 212.50m to 217.00m
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Including 0.27g/t Au from 213.47m
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0.95 g/t Au over 1m from 237.00m (within Quartz Vein Zone)
Click Image To View Full Size
Figure 2: HML25-011 Box 56 – Yellow Box indicates from 237.00m to 238.00m
Click Image To View Full Size
Figure 3: Showing the completed and proposed holes testing the northeast-southwest trending magnetic lineament
Contact Bay Rognon Mine Area
The 2025 drill program at Contact Bay is completed, targeting a mineralised quartz-vein structure that was historically mined in the early 1900's. The recently completed program comprised 10 holes for a total 2726.0m. The geology comprises metavolcanic rocks cut by granitoid batholiths and gabbroic sills and stocks. The metavolcanic rocks are locally cut by cm-scale quartz-sulphide veins and drill hole RGN25-004 intersected visible gold in a quartz-pyrite vein (Figure 4). Assays are pending for all holes.
Click Image To View Full Size
Figure 4: Showing the magnetic map for the Contact Bay Rognon Mine area and an image of the visible gold intersected in RGN25-004.
Conclusion
Although some assays remain pending, the Company believes additional drilling is warranted to test along this major quartz vein structure along strike. The Company has proposed an additional 10 holes to test along a 2km strike length of the magnetic lineament (Figure 3).
Qualified Person
Stephen Hughes P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
Technical Program
Heritage Mining adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.
Sampling, Sub-sampling, and Laboratory Analysis for Heritage Mining Drayton Black Lake Project All drilling at the Drayton Black Lake project recovers NQ core. Drill core is systematically split in half using a diamond saw. A qualified geologist examines the drill core, marking intervals for sampling and indicating the cutting line. Sample lengths are typically 1.0 metre, adjusted to a minimum length of 0.5 metre as necessary to respect lithological and/or mineralogical contacts and to isolate narrow veins or structures that may contain higher-grade mineralization.
Technicians saw the core along the cutting lines determined by the geologist. One half of the core is retained as a witness sample, while the other half is submitted for analysis. Individual sample bags are securely sealed and placed into sealed bags, which are then clearly marked with their contents.
Heritage Mining submits samples for gold determination by PhotonAssay to ALS Canada Ltd. (" ALS "). ALS operates under a commercial contract with Heritage Mining.
Drill core samples are shipped to ALS for sample preparation at their facilities in Thunderbay Ontario. ALS is an ISO/IEC 17025:2017 accredited laboratory for the PhotonAssay method in addition to a variety of diverse metal determination methods.
Analytical Procedures
The ALS procedure for PhotonAssay involves lab applying preparation codes LOG-21 (sample logging via barcode), CRU-31 (fine crushing so that 70% passes through a 2mm screen) and SPL-32a (rotary splitting of a representative ~500g subsample) followed by analytical code Au-PA01 which is a non-destructive gold analysis method using high-energy X-rays with a gold detection range from 0.03 ppm to 350ppm.
After gold assays are returned, Heritage then may choose to perform multi-element assays on selected samples based on the gold results. In these cases, sample preparation codes FND-05 (locate and use remaining crushed material from Au-PA01) and PUL-32m (pulverization so that >85% passes 75 µm screen) are then applied followed by analytical code ME-MS61 (multi-element ICP-MS analysis for base metals, pathfinder elements, lithophile elements and rare earth elements).
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Quality Assurance/Quality Control (QA/QC)
The drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a rigorous QA/QC program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples, in addition to the laboratories' internal quality assurance programs.
Quality Control data are meticulously evaluated upon receipt from the laboratories for any failures. Appropriate corrective action is taken if assay results for standards and blanks fall outside allowed tolerances. All results disclosed by Heritage Mining have successfully passed the Company's stringent quality control protocols.
The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed. The assay data disclosed in this press release have been verified by the Company's Qualified Person against the original assay certificates.
Heritage Mining notes that it has not completed any economic evaluations of its Drayton-Black Lake Project, and the project does not currently have any resources or reserves.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Metals & Mining Virtual Investor Conference Agenda Announced for July 23rd and 24th
Virtual Investor Conferences, the leading proprietary investor conference series announced the agenda for the Metals & Mining Virtual Investor Conference to be held July 23 rd and 24 th .
Individual investors, institutional investors, advisors, and analysts are invited to attend.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations, or schedule 1x1 meetings with management.
"We're pleased to bring together a diverse lineup of resource companies for this new edition of the Metals & Mining Virtual Investor Conference," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "From explorers to producers, these companies reflect the depth and global reach of today's metals and mining sector. This two-day event continues to be an effective platform for companies—whether OTCQX, OTCQB, OTCID, or exchange listed—to connect with investors and share their strategic vision in real time."
July 23 rd
| Eastern Time (ET) | Presentation | Ticker(s) |
| 9:30 AM ET | Andean Silver Ltd. | (OTCQX: ADSLF | ASX: ASL) |
| 10:00 AM ET | G50 Corp. Limited | (OTCQB: GFTYF | ASX: G50) |
| 10:30 AM ET | Silver Tiger Metals Inc. | (OTCQX: SLVTF | TSXV: SLVR) |
| 11:00 AM ET | Viva Gold Corp. | (OTCQB: VAUCF | TSXV: VAU) |
| 11:30 AM ET | Liberty Gold Corp. | (OTCQX: LGDTF | TSX: LGD) |
| 12:00 PM ET | UR-Energy Inc. | (NYSE American: URG | TSX: URE) |
| 12:30 PM ET | Arizona Sonoran Copper Company | (OTCQX: ASCUF | TSX: ASCU) |
| 1:00 PM ET | Northisle Copper & Gold Inc. | (OTCQX: NTCPF | TSXV: NCX) |
| 1:30 PM ET | Element79 Gold Corp. | (OTCQB: ELMGF | CSE: ELEM) |
| 2:00 PM ET | Rackla Metals Inc. | (TSXV: RAK) |
July 24 th
| Eastern Time (ET) | Presentation | Ticker(s) |
| 11:00 AM ET | Heliostar Metals Ltd. | (OTCQX: HSTXF | TSXV: HSTR) |
| 11:30 AM ET | Camino Minerals Corp | (OTCID: CAMZF | TSXV: COR) |
| 12:00 PM ET | West Red Lake Gold Mines | (OTCQB: WRLGF | TSXV: WRLG) |
| 12:30 PM ET | Silver47 Exploration Corp. | (OTCQB: AAGAF | TSXV: AGA,OTC:AAGAF) |
| 1:30 PM ET | Axcap Ventures Inc. | (OTCID: GARLF | CSE: AXCP) |
| 2:00 PM ET | AbraSilver Resource Corp. | (OTCQX: ABBRF | TSX: ABRA) |
| 2:30 PM ET | Myriad Uranium Corp. | (OTCQB: MYRUF | CSE: M) |
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .
About Virtual Investor Conferences ®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact:
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SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
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Osisko Metals Gaspé Copper Project Intersects 645 Metres Averaging 0.28% Cu
Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.
Osisko Metals Chief Executive Officer Robert Wares commented: " These new results underscore the overall large-scale potential of mineralization at Gaspé Copper, with drill hole 1082 cutting 853 metres of continuous mineralization, including the bottom 424 metres being located immediately below and outside the 2024 MRE model. Furthermore, drill hole 1088 intersected new mineralization 80 metres southwest of the 2024 MRE model, emphasizing the excellent potential for increasing the size of the known deposit at depth and to the south. "
Significant new analytical results are presented below (see Table 1) and include 35 mineralized intercepts from ten drill holes. Infill intercepts are all located inside the 2024 Mineral Resource Estimate model ("MRE", see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are all located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as "Both**"). Maps showing hole locations are available at www.osiskometals.com .
Highlights:
- Drill hole 30-1082
- 853.5 metres averaging 0.20% Cu (infill and expansion)
- 147.5 metres averaging 0.19% Cu (infill)
- Drill hole 30-1089
- 645.0 metres averaging 0.28% Cu (infill and expansion)
- 91.5 metres averaging 0.21% Cu (infill)
- Drill hole 30-1083
- 427.5 metres averaging 0.26% Cu (infill and expansion)
- 153 metres averaging 0.18% Cu (infill)
- Drill hole 30-0974
- 351.0 metres averaging 0.20% Cu (expansion)
- 295.5 metres averaging 0.29% Cu (infill)
- Drill hole 30-1087
- 334.5 metres averaging 0.23% Cu (infill)
- 74.5 metres averaging 0.62% Cu (expansion)
- Drill hole 30-1094
- 227.5 metres averaging 0.26% Cu (infill)
- 49.9 metres averaging 0.24% Cu (expansion)
- Drill hole 30-1088
- 122.7 metres averaging 0.24% Cu (expansion)
- 79.5 metres averaging 0.31% Cu (expansion)
- Drill hole 30-1091
- 42.6 metres averaging 1.14% Cu (expansion)
- 210 metres averaging 0.21% Cu (infill)
Table 1: Infill and Expansion Drilling Results
| DDH No. | From (m) | To (m) | Length (m) | Cu % | Ag g/t | Mo % | CuEq* | Type |
| 30-0974 | 6.0 | 301.5 | 295.5 | 0.29 | 1.88 | 0.30 | Infill | |
| And | 322.5 | 673.5 | 351.0 | 0.20 | 1.72 | 0.017 | 0.27 | Expansion |
| And | 733.5 | 781.5 | 48.0 | 0.32 | 2.00 | 0.33 | Expansion | |
| 30-1082 | 21.0 | 69.0 | 48.0 | 0.19 | 1.46 | 0.20 | Infill | |
| And | 112.0 | 259.5 | 147.5 | 0.19 | 1.86 | 0.20 | Infill | |
| And | 286.5 | 1140.0 | 853.5 | 0.20 | 1.43 | 0.023 | 0.30 | Both** |
| (including) | 286.5 | 716.0 | 429.5 | 0.20 | 1.52 | 0.020 | 0.28 | Infill |
| (including) | 716.0 | 1140.0 | 424.0 | 0.21 | 1.33 | 0.026 | 0.32 | Expansion |
| 30-1083 | 65.0 | 101.0 | 36.0 | 0.22 | 1.78 | 0.23 | Infill | |
| And | 138.0 | 174.0 | 36.0 | 0.15 | 1.66 | 0.16 | Infill | |
| And | 202.5 | 355.5 | 153.0 | 0.18 | 1.56 | 0.011 | 0.31 | Infill |
| And | 388.5 | 816.0 | 427.5 | 0.26 | 1.54 | 0.021 | 0.35 | Both** |
| (including) | 388.5 | 488.0 | 99.5 | 0.31 | 1.90 | 0.025 | 0.42 | Infill |
| (including) | 488.0 | 816.0 | 328.0 | 0.24 | 1.43 | 0.020 | 0.32 | Expansion |
| And | 846.0 | 900.0 | 55.5 | 0.16 | 1.34 | 0.006 | 0.19 | Expansion |
| 30-1087 | 13.8 | 54.0 | 40.2 | 0.17 | 1.82 | 0.18 | Infill | |
| And | 78.0 | 412.4 | 334.5 | 0.23 | 1.93 | 0.011 | 0.28 | Infill |
| And | 447.0 | 521.5 | 74.5 | 0.62 | 3.19 | 0.004 | 0.65 | Expansion |
| And | 550.2 | 598.5 | 48.3 | 0.36 | 2.83 | 0.013 | 0.43 | Expansion |
| 30-1088 | 69.0 | 111.0 | 42.0 | 0.32 | 2.20 | 0.33 | Expansion | |
| And | 139.5 | 262.2 | 122.7 | 0.24 | 2.63 | 0.25 | Expansion | |
| And | 445.0 | 524.3 | 79.5 | 0.31 | 2.19 | 0.005 | 0.34 | Expansion |
| 30-1089 | 5.2 | 96.0 | 91.5 | 0.21 | 1.54 | 0.22 | Infill | |
| And | 211.5 | 235.5 | 25.5 | 0.13 | 1.54 | 0.006 | 0.14 | Infill |
| And | 268.5 | 294.0 | 27.0 | 0.16 | 1.54 | 0.14 | Infill | |
| And | 319.5 | 964.5 | 645.0 | 0.28 | 1.46 | 0.023 | 0.37 | Both** |
| (including) | 319.5 | 567.8 | 248.3 | 0.26 | 1.65 | 0.023 | 0.36 | Infill |
| (including) | 567.8 | 964.5 | 396.7 | 0.30 | 1.34 | 0.023 | 0.40 | Expansion |
| 30-1091 | 5.5 | 28.5 | 23.0 | 0.50 | 6.62 | 0.54 | Infill | |
| And | 109.5 | 135.0 | 25.5 | 0.13 | 1.35 | 0.14 | Infill | |
| And | 169.5 | 379.5 | 210.0 | 0.21 | 2.10 | 0.22 | Infill | |
| And | 408.0 | 446.0 | 38.0 | 0.22 | 1.50 | 0.013 | 0.28 | Expansion |
| And | 540.4 | 583.0 | 42.6 | 1.14 | 5.86 | 0.009 | 1.20 | Expansion |
| 30-1093 | 14.0 | 126.0 | 112.0 | 0.25 | 2.73 | 0.26 | Infill | |
| And | 346.0 | 373.5 | 27.5 | 0.13 | 1.19 | 0.14 | Expansion | |
| And | 576.5 | 643.5 | 67.0 | 0.20 | 2.13 | 0.21 | Expansion | |
| And | 714.8 | 738.7 | 23.9 | 0.50 | 4.57 | 0.53 | Expansion | |
| And | 811.5 | 834.4 | 22.9 | 0.48 | 5.40 | 0.51 | Expansion | |
| 30-1094 | 8.0 | 235.5 | 227.5 | 0.26 | 2.11 | 0.27 | Infill | |
| And | 268.5 | 325.5 | 57.0 | 0.13 | 1.33 | 0.020 | 0.21 | Infill |
| And | 388.5 | 414.5 | 26.0 | 0.49 | 3.00 | 0.008 | 0.54 | Expansion |
| And | 511.1 | 561.0 | 49.9 | 0.24 | 1.99 | 0.25 | Expansion |
* Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.
** "Both" indicates these drill holes have contiguous shallower infill as well as deeper expansion intercepts.
Discussion
Drill hole 30-0974 was an extension of a shallow (300 m) hole drilled in 2019, located near the southwestern margin of the 2024 MRE model. It returned 295.5 metres averaging 0.29% Cu and 1.88 g/t Ag (infill) followed by a second intercept of 351.2 metres averaging 0.20% Cu and 1.72 g/t Ag (expansion) and a third deeper intercept of 48.0 metres averaging 0.32% Cu and 2.00 g/t Ag (expansion), extending mineralization to a vertical depth of 780 metres.
Drill hole 30-1082, located on top of Copper Mountain near the central part of the 2024 MRE model, intersected 48.0 metres averaging 0.19% Cu and 1.46 g/t Ag (infill), followed by a second intercept of 147.5 metres averaging 0.19% Cu and 1.86 g/t Ag (infill), followed by a third deeper intercept of 853.5 metres averaging 0.20% Cu, 1.43 g/t Ag and 0.023% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 424.0 metres averaging 0.21% Cu, 1.33 g/t Ag and 0.026% Mo. This hole extends mineralization near the centre of the deposit to a vertical depth of 1140 metres.
Drill hole 30-1083, located in the south-central part of the 2024 MRE model, intersected two short 36 metre-long mineralized zones followed by 153.0 metres averaging 0.18% Cu and 1.56 g/t Ag (infill), followed by a deeper intercept of 427.5 metres averaging 0.26% Cu, 1.54 g/t Ag and 0.021% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 328.0 metres averaging 0.24% Cu, 1.43 g/t Ag and 0.020% Mo. This was followed by a final intercept of 55.5 metres averaging 0.16% Cu and 1.34 g/t Ag. This hole extends mineralization to a vertical depth of 900 metres.
Drill hole 30-1087, located in the south-central part of the 2024 MRE model, intersected a short 40 metre-long mineralized zone followed by 334.5 metres averaging 0.23% Cu, 1.93 g/t Ag and 0.011% Mo (infill). This was followed by 74.5 metres averaging 0.62% Cu and 3.19 g/t Ag and then by another 48.3 metres averaging 0.36% Cu and 2.83 g/t Ag (both expansion), extending mineralization to a vertical depth of 598 metres.
Drill hole 30-1088, located 80 metres outside the southwestern limit of the 2024 MRE model, intersected 42.0 metres averaging 0.32% Cu and 2.20 g/t Ag followed by 122.7 metres averaging 0.24% Cu and 2.63 g/t Ag. A third intersection at depth comprised 79.5 metres averaging 0.31% Cu and 2.19 g/t Ag (all expansion). Previously undocumented mineralization in this sector reached a vertical depth of 524 metres.
Drill hole 30-1089, located in the south-central part of the 2024 MRE model, intersected 91.5 metres averaging 0.21% Cu and 1.54 g/t Ag (infill), followed by two short 26 to 27 metre-long mineralized zones, followed by 645.0 metres averaging 0.28% Cu, 1.46 g/t Ag and 0.023% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 396.7 metres averaging 0.30% Cu, 1.34 g/t Ag and 0.023% Mo. This hole extends mineralization to a vertical depth of 965 metres.
Drill hole 30-1091, located in the southeastern part of the 2024 MRE model, intersected two short 23 to 26 metre-long mineralized zones, followed by 210.0 metres averaging 0.21% Cu and 2.10 g/t Ag (infill). This was followed by 38.0 metres averaging 0.22% Cu and 1.50 g/t Ag and then by another 42.6 metres averaging 1.14% Cu and 5.86 g/t Ag (both expansion), extending mineralization to a vertical depth of 583 metres where the hole was stopped in an open stope of historical E Zone mining operations.
Drill hole 30-1093, located near the southeastern margin of the 2024 MRE model, intersected 112.0 metres averaging 0.25% Cu and 2.73 g/t Ag (infill), followed by four short 23 to 67 metre-long mineralized zones (all expansion), which extended mineralization to a vertical depth of 834 metres.
Drill hole 30-1094, located near the southern limit of the 2024 MRE model, intersected 227.5 metres averaging 0.26% Cu and 2.11 g/t Ag (infill), followed by 57.0 metres averaging 0.13% Cu and 1.33 g/t Ag (infill), followed by two short 26 to 50 metre-long mineralized zones (both expansion), which extended mineralization to a vertical depth of 561 metres.
Mineralization occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. At least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier prograde skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedded replacement mineralization, which is mostly stratigraphically controlled, dominates in the area of Needle Mountain, Needle East and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.
The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).
The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.
All holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) and the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.
Table 2: Drill hole locations
| DDH No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation |
| 30-0974 | 42 | -88 | 501.0 | 316178.9 | 5425842.2 | 585.3 |
| 30-1082 | 0 | -90 | 1161.0 | 316097.0 | 5426259.0 | 754.8 |
| 30-1083 | 0 | -90 | 930.0 | 316300.0 | 5426004.9 | 642.3 |
| 30-1087 | 0 | -90 | 770.5 | 316411.0 | 5425787.0 | 583.7 |
| 30-1088 | 0 | -90 | 654.0 | 316100.0 | 5425613.0 | 570.6 |
| 30-1089 | 0 | -90 | 1032.0 | 316273.8 | 5426098.5 | 686.9 |
| 30-1091 | 0 | -90 | 583.0 | 316500.0 | 5425897.0 | 608.1 |
| 30-1093 | 0 | -90 | 849.0 | 316687.0 | 5425707.0 | 577.5 |
| 30-1094 | 0 | -90 | 720.0 | 316178.9 | 5425842.2 | 720.0 |
Explanatory note regarding copper-equivalent grades
Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Quality Assurance / Quality Control
Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.
Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.'s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.
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 averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 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 averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 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, NWT, 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:
Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129
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 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.
Photos accompanying this announcement are available at:
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Nuvau's Gold-Focused Exploration Program Underway at Matagami
Visible gold found in first hole—assays are pending
Nuvau Minerals Inc. (TSXV: NMC) has launched its gold-focused exploration program at its Matagami Property where the first hole drilled intersected what appears to be an orogenic lode gold system close to the Bracemac McLeod Mine in Matagami. Assays are pending after Nuvau intersected visible gold in a structure intersected in the first hole.
"We are extremely encouraged by the success of the initial hole of our maiden gold focused diamond drill program on this 1,300 square kilometre land package," said Peter Van Alphen, Nuvau's CEO. "The footwall rock units where this new vein intercept occurs is in a largely untested part of the property, in an area not deemed favourable for base metal mineralization. In addition, this mineralized zone is located less than 25 metres from the mine access ramp at the permitted Bracemac McLeod Mine."
The steeply dipping, strong shear zone structure with quartz veining mineralized with pyrite and locally visible gold was intersected at a depth of approximately 200 metres below surface. Although it is within the footwall stratigraphy of the past-producing Bracemac McLeod mine, the area has seen very little drilling in the past as it was not of interest for VMS type exploration. Planning is underway for the follow up drilling which is expected to begin within the next two weeks.
Figure 1: Past producing Bracemac McLeod Mine and relative position of gold target drilled
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Figure 2: Visible gold found in more than 30 gold chips identified in logging the core
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The Matagami Property has hosted numerous base metal mines over the last 60 years. However previous owners never applied a gold-focused exploration program to this large-scale property even though it is strategically located in the Abitibi geological sub-province.
The Property is located in the Abitibi Region of Quebec, one of the world's most productive gold districts. It includes Canada's largest gold producing mine with the country's largest gold mineral reserves: the Detour Lake Mine. Detour Lake is owned by Agnico Eagle Mines Limited, located west of the Matagami Property. The Casa Berardi Mine, which has produced over 3 million ounces of gold, is also located to the just southwest of the Matagami Property. (See Figure 3, below.)
Figure 3: Property Location
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Gold Exploration work: background
Since satisfying the spending requirement associated with the earn-in agreement with Glencore, Nuvau has begun working on unlocking the overlooked gold potential of this vast, 1,300 square kilometre Matagami property.
This work includes compilation of historic data, overburden till sampling, a detailed high-resolution drone airborne magnetic (MAG) survey, and now diamond drilling. The sonic (till) drill program discovered a significant gold grain anomaly in the central portion of the Property (see Nuvau Press Release, March 4, 2025) that will be subject to follow up drilling in the upcoming winter drill program. Compilation of historic data in the vicinity of the base metal mines on the main "mine trend" identified numerous areas where gold mineralization had been intersected, however no follow-up work was ever completed.
About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
Qualified Person and Quality Assurance
Bastien Fresia P. Geo. (Qc), Technical Services Director of Nuvau and a "qualified person" as is defined by National Instrument 43-101, has verified the scientific and technical data disclosed in this news release, and has otherwise reviewed and approved the scientific and technical information in this news release.
Drill core samples are sawn by staff technicians to create half core splits. One split is retained in the drill core box for archival purposes with a sample tag affixed at each sample interval and the other split is placed in a labelled plastic bag along with a corresponding sample number tag and placed in the shipment queue.
Quality control samples including blind certified reference material ("CRM"), blank material, and core duplicates are inserted at a frequency of 1 in every 20 samples and sample batches of up to 60 samples were then shipped directly by Nuvau personnel to the ALS Canada Ltd. preparation laboratory in Rouyn-Noranda, Québec.
All submitted core samples are crushed in full to 95 % passing less than 2 mm (ALS code CRU-32). A 1000-gram sample was then riffled split from the crushed material and pulverized to 90 % passing 75 μm (SPL-22 and PUL-32a). Pulps are shipped from the preparation laboratory to ALS Canada Ltd.'s analytical lab in North Vancouver, British Columbia, for assay.
Lead, silver, copper and zinc analyses were determined by ore grade four acid digestion with an inductively coupled plasma atomic emission spectroscopy ("ICP-AES") or atomic absorption spectroscopy ("AAS") finish (ALS codes Pb-OG62, Ag-OG62, Cu-OG62 and ZnOG62), whereas gold was determined by 50 g fire assay analysis with an AAS finish (code Au-AA23).
ALS Canada Ltd. is an accredited, independent commercial analytical firm registered to ISO/IEC 17025:2017 and ISO 9001:2015.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning drill results relating to the Matagami Property, the results of the PEA, the potential of the Matagami Property, the timing and commencement of any production, the restart of the Bracemac-McLeod Mine, the completion of the earn-in of the Matagami Property and the timing and completion of any technical studies, feasibility studies or economic analyses. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Matagami Property. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Group Eleven Announces C$5M Bought Deal Private Placement
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES . NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES /
Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FRA: 3GE) (" Group Eleven " or the " Company ") is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as lead underwriter, on behalf of a syndicate of underwriters (collectively, the " Underwriters ") in connection with a "bought deal" private placement for aggregate gross proceeds of C$5 million (the " Offering ").
The Offering will consist of the issuance and sale of 15,625,000 common shares of the Company (the " Common Shares ") at a price of C$0.32 per Common Share (the " Issue Price ").
The Company has granted the Underwriters an option, exercisable in whole or in part, at any time prior to closing of the Offering, to sell up to an additional 2,343,750 Common Shares at the Issue Price for additional gross proceeds of up to C$750,000 .
The Company intends to use the net proceeds from the Offering to expand the remaining funded exploration drill program at Ballywire from approximately 5,000m to approximately 25,000m , and for working capital and general corporate purposes, as described further in the Offering Document (as defined below).
The Common Shares will be offered pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions , as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the " Listed Issuer Financing Exemption ") to purchasers in each of the provinces of Canada (other than the province of Quebec ). The Underwriters will also be entitled to offer the Common Shares for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933 , as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions. The Common Shares issued under the Offering to Canadian subscribers will not be subject to a hold period in Canada .
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This news release does not constitute an offer to acquire securities in any jurisdiction.
In addition to and concurrent with the Offering, the Company will be offering on a non-brokered basis, the number of Common Shares, on the same or substantially same terms as the Offering, to its pre-existing shareholder, Glencore Canada Corporation, to allow such shareholder to exercise its participation right and maintain its 15.2% ownership interest in the Company (the " Non-Brokered Offering "). No commission or other fees will be paid to the Underwriters in connection with the Non-Brokered Offering.
There is an offering document (the " Offering Document ") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and the Company's website at https:// groupelevenresources.com. Prospective investors of Common Shares should read the Offering Document before making an investment decision.
The Offering is expected to close on or about July 31, 2025 , or on such other date as may be agreed to by the Company and the Underwriters, subject to compliance with applicable securities laws (the " Closing Date "). Notwithstanding the foregoing, the closing must occur no later than the 45 th day following the date of this news release.
The Company will pay a fee in connection with the Offering comprised of (i) a cash commission equal to 6.0% of the aggregate gross proceeds of the Offering (" Cash Commission "), and (ii) an aggregate number of compensation warrants (each, a " Compensation Warrant ") equal to 6.0% of the aggregate number of Common Shares issued pursuant to the Offering. Each Compensation Warrant will be exercisable to acquire one Common Share at an exercise price equal to the Issue Price for a period of 24 months from the Closing Date, subject to adjustment in certain events. The Cash Commission payable to the Underwriters will be reduced to 3.0%, and no Compensation Warrants will be issued, with respect to certain purchasers identified on the Company's president's list.
The completion of the Offering is subject to customary conditions, including, but not limited to, the negotiation of an underwriting agreement between the parties with respect to the Offering and the receipt of all necessary approvals, inclusive of the conditional acceptance of the TSX Venture Exchange.
Qualified Person
Technical information in this news release has been approved by Professor Garth Earls , Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, an independent 'Qualified Person' as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects .
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF and FRA: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022 , demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:
- 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
- 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
- 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
- 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
- 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
- 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
- 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
- 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
- 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)
- 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu (25-3552-35)
Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit 1 , which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit 2 . The Company's two largest shareholders are Michael Gentile (15.3%) and Glencore Canada Corporation (15.2% interest). Additional information about the Company is available at www.groupelevenresources.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski , P.Geo.
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information ("forward-looking statements") within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the closing of the Offering, the timing of the closing of the Offering, the use of proceeds from the Offering, the receipt of regulatory approvals and future results of operations, performance and achievements of the Company, including the Company drilling the most significant mineral discovery in the Republic of Ireland in over a decade. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
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 .
| |
| 1 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018) |
| 2 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2024) |
| |
SOURCE Group Eleven Resources Corp.
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Bold Ventures Reports Positive Results of MMI Soil Survey on Its Burchell Property
Bold Ventures Inc. (TSXV: BOL,OTC:BVLDF) (the "Company" or "Bold") is pleased to report that the Company has received the results of a Mobile Metal Ion (MMITM) soil survey carried out in the northwest corner of its Burchell Gold and Copper Property during the first phase of summer 2025 field work. The survey was designed to infill and extend soil lines from November 2024 (see January 17, 2025 news release), testing the strike extension of the Moss Trend on the adjacent Moss Gold Property of Goldshore Resources Inc. (GSHR) to the west. The Moss Trend hosts the Moss Gold Deposit with an Indicated resource of 1.23 Moz gold at 1.22 gt and an Inferred resource of 4.92 Moz gold at 1.09 gt (see GSHR website), located within 5km of the west boundary of Bold's property.
Response ratios (RRs) were calculated for each sample by element, according to SGS guidelines, which state that 'response ratios in general need to be greater than 2-5 times background before being considered "anomalous."' Notable results include several new gold (Au) +/- copper (Cu) +/- molybdenum (Mo) anomalies in the northern half of the survey area (see Figure 1), with Au RRs up to 60 (values 60 times background gold concentrations); Cu RRs up to 136 (values 136 times background copper concentrations), and Mo RRs up to 70 (values 70 times background molybdenum concentrations). Copper and molybdenum are often pathfinders for gold mineralization in this region. Best anomalies from the 2024 survey now have calculated RRs of up to 40 for Au, 59 for Cu, and 432 for Mo. These polymetallic anomalies appear to form at least two northeast-southwest trends/regions within prominent magnetic lows. The best 2025 gold RR of 65 occurs in the southern portion of the survey area along an anomalous trend which follows the margin of an ENE-WSW magnetic low (see Figure 1). Based on publicly available information, this area has never been drilled.
Historical diamond drilling by Newmont in the northern portion of the survey area has yielded gold anomalies in a fence of holes in the area of the polymetallic soil anomalies (see Figure 1), as well as towards the western boundary of the property where 0.9 g/t Au over 6.4m was intersected. The soil anomalies will aid in targeting gold-bearing horizons more closely when diamond drilling.
82 samples were collected during the summer field program for a combined survey total of 156. The combined survey has northwest-southeast lines spaced at 90 to 140 meters, 350 to 1400 meters in length, with 50-meter sample station spacing, covering an 800-meter section of the Moss Trend (see Figure 1).
Meanwhile, the Company is awaiting final results from the first phase of summer field work in the vicinity of the 111 Zone that is located within a parallel gold trend south of the Moss Gold Trend. The 111 Zone returned gold values between 10 ppb and 68 g/t in grab samples last winter (see Bold's December 12, 2024 and January 9, 2025 news releases).
Bruce MacLachlan, the Company's President and Chief Operating Officer, said: "The highly anomalous gold and polymetallic soil sampling results recently obtained along the Moss Gold Trend are extremely encouraging and will help greatly in targeting gold-bearing horizons with diamond drilling. We are eager to keep advancing the property not only along the Moss Trend, but at the 111 Zone and the Hermia Gold and Copper Prospect. Results in the past year demonstrate that this property is underexplored with high potential for new gold and copper discoveries."
QAQC Protocols
MMITM samples were collected according to SGS Laboratories methodology, and shipped to SGS Laboratories in Burnaby, B.C., where they were analyzed according to SGS' MMI-M weak leach method, yielding concentrations for 53 elements.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., the Company's V.P. Exploration 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.
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 | "David B Graham" David Graham CEO |
Direct line: (705) 266-0847
Email: bruce@boldventuresinc.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.
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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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