Non-flow-through financing. Newrange Gold closed the first tranche of a private placement and received gross proceeds of ~C$408,100 with the issuance of 5,830,332 non-flow-through (NFT) units at a price of C$0.07 per unit. Management and insiders acquired a total of 1,615,000 units. Each NFT unit is comprised of one common share and one-half share purchase warrant. Each whole NFT warrant may be exercised to purchase one common share for C$0.12 at any time until February 23, 2024. A second and final tranche to raise gross proceeds of ~C$100,000 is expected to close in approximately two weeks. Proceeds will be used, among other things, to fund surface exploration at the Pamlico project in Nevada. Flow-through financing. Newrange expects to raise up to C$1,500,000 with the issuance of up to 15 million flow-through (FT) units at a price of C$0.10 per FT unit in a private placement. Each unit is comprised of one common share and one-half share purchase warrant. Each whole FT warrant may be exercised to purchase one common share at a price of C$0.12 at any time until February 23, 2024. Proceeds will be used to fund exploration and drilling at the company's Argosy Gold Mine in the Red Lake Mining Division of Ontario, Canada. The FT financing is also expected to close in approximately two weeks. Drilling at North Birch and Argosy. Newrange recently started drilling at the North Birch project in the Birch-Uchi Greenstone Belt in northwestern Ontario, Canada with approximately 2,000 meters of drilling planned. Once completed, the rig will move to the nearby past-producing Argosy gold mine and test the depth of known veins below historic mine workings and the continuity of other veins. Rating is Outperform. We had already assumed a financing in our financial model based on our cash flow forecast and will update our estimates following closing of the financings. We think 2022 will be an eventful year for Newrange as activity accelerates at both North Birch and Argosy. We believe the drilling program could reveal the significant discovery potential at North Birch and unrealized potential remaining at Argosy. We think additional drilling at the company's Pamlico project in Nevada could begin during the second quarter of 2022. Read More >>
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Newrange Gold Corp. - Newrange Closes First Tranche of Financing
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Newrange Gold
Overview
The most promising gold mine isn’t worth much if it’s located in an unsafe or non-mining-friendly jurisdiction. Navigating obstructive laws and adapting to political instability can quickly consume a mining company’s resources. Regions with clearly stated mining laws that have demonstrated political stability are essential to the long-term success of a mining project. Even with the current geopolitical climate skyrocketing the price of gold, investors must consider the jurisdiction in which mining companies operate.
The Fraser Institute repeatedly ranks Nevada as the top jurisdiction for investment attractiveness in the entire world. Nevada’s mineral endowments, regulatory certainty and clearly stated public policy are what earned the state its top spot. Overall, North America has quickly become known as a politically stable and mining-friendly continent.
Few countries have embraced the mining industry quite like Canada. The country’s clear sustainability requirements and multiple initiatives that aim to improve the country’s economy by leveraging its natural resources are only a few of the reasons why Canada continues to be an attractive country for mining. Much like real estate, the location of mining projects is vital and investors need to take an asset’s jurisdiction into consideration when performing due diligence.
Newrange Gold (TSXV:NRG,OTC:NRGOF,FSE:X6C.F) is a Canadian-based mining exploration and development company focused on district-scale exploration of prolific assets in safe jurisdictions. The company has projects in Nevada and Ontario that benefit from pro-mining regulations, a highly-trained local workforce and district-scale historical data. Newrange Gold focuses on stable jurisdictions in order to cultivate long-term value for shareholders.The company’s asset portfolio is rich with district scale potential projects, all located within stable and mining-friendly jurisdictions. The Argosy Gold Mine and North Birch Gold Project are both located in the Red Lake District in Ontario. To date, this district has produced 22 million ounces of gold. The projects are nearly contiguous and comprise 4,454 hectares located on the Birch-Uchi Greenstone Belt and adjacent to the prolific Red Lake Greenstone Belt which has similar geographical formations and is three times the size of the Red Lake Belt. Despite this, it is relatively underexplored.
Newrange Gold’s Pamlico Project is located in Nevada. The project is located in the famous Pamlico District, which was known as one of the highest-grade gold districts in the 1880s. However, because it’s been privately held since 1896, the district has largely gone unexplored. Fortunately, the presence of over 300 historic mines in the region has led to the creation of excellent infrastructure to facilitate future development. The project sits on the Walker Lane geographic structure, which is a large-scale multi-phase polymetallic mineralization system that contains multiple gold and copper targets across 5,700 hectares.
On October 25, 2022, the company acquired 100 percent interest in the Coricancha Gold-Silver-Copper-Lead-Zinc Mine in Central Peru. The asset is a high-grade, narrow-vein, gold-silver-copper-lead-zinc underground mine in the Central Polymetallic Belt of Peru, and located 90 kilometres east of Lima on the Central Highway and comprises a 600-tonne-per-day processing plant, dry-stack tailings storage facility and all necessary surface and underground infrastructure. The mine was in production intermittently from 1906 to 2013 and has been on care-and-maintenance since then but is in excellent shape and is fully permitted.
The management team leading Newrange Gold is equally as impressive as its asset portfolio. Robert Archer, president and CEO, has over 40 years of management experience in the mining industry within the Americas. He also possesses a strong scientific background as a professional geologist with an honors BSc. Meanwhile, David Cross, CFO, has 21 years of experience focused on corporate governance and finance. The team is rounded out by independent directors who add their specific expertise to the company, including a geologist, metallurgical engineer and corporate accountant.
Company Highlights
- Newrange Gold is a Canada-based exploration and development mining company dedicated to building long-term shareholder value with its gold-focused assets that leverage district-scale historical data to inform its decisions
- The company has built an asset portfolio that is entirely within mining-friendly jurisdictions with clear legal requirements and regulations that provide confidence in the future of each project.
- Both the Argosy Gold Mine and North Birch Project are located in the Red Lake District in Northwestern Ontario, a region famous for gold production.
- Newrange Gold’s Pamlico Project in Nevada benefits from an incredibly mining-friendly state and is located in a legendary district that has remained relatively unexplored since the late 1800s.
- The company has acquired 100 percent interest in the Coricancha Gold-Silver-Copper-Lead-Zinc Mine in Central Peru.
- The company is led by an impressive management team with decades of experience that is directly relevant to Newrange Gold’s ambitions, including experience managing mining companies that operate in the Americas
Key Projects
The Pamlico Project
This project is located in Nevada, a state that ranks as the most desirable mining jurisdiction in the world and is currently the fifth-largest gold producer. Mines throughout the state produced a combined 5.4 million ounces of gold in 2019 alone and a staggering 169.1 million ounces from 1835 to 2018.
Project Highlights:
- Located on the Prolific Walker Lane Geologic Structure: Current and historic mining operations on the Walker Lane structure have produced 53 million ounces of gold and 519 million ounces of silver
- Unique Opportunity in a Legendary District: The Pamlico District was the highest-grade gold district in Nevada between the 1880s and 1920s. Despite its reputation, much of the property has been in private hands and has been largely unexplored. Newrange Gold is now in a unique position with tremendous potential.
- Excellent Infrastructure and Metallurgy: The region's historical and current emphasis on gold mining has resulted in a reliable infrastructure, along with exceptional metallurgy.
- New Discoveries in a Proven District: Recent geological models suggest the presence of a large gold-copper system with high-grade, near-surface oxide gold mineralization. The same models also indicate lower-grade bulk tonnage gold mineralization, along with skarn and porphyry copper-gold targets.
- Multiple Drill Targets Identified: Newrange Gold has identified promising drill targets to further explore the project’s area, including the McGill Canyon Skarn Zone, the La Panta Mine, and the new ‘91’ zone.
North Birch Gold Project
The North Birch Gold Project sits upon the Birch-Uchi Greenstone Belt, which has similar geology as the famous Red Lake Greenstone Belt. However, limited accessibility has left the area belt largely unexplored. Current exploration data and the proximity to an existing mine create tremendous blue-sky potential for the project.
Project Highlights:
- Proximity to Existing Projects: The Springpole Gold Deposit operated by First Mining Gold has an indicated 4.6 million ounces of gold and is only 12 kilometers away from the North Birch Gold Project.
- Folded Iron Formations (IF) Indicate Gold Deposits: IF-hosted gold deposits are well known around the world and have become attractive targets for gold exploration. Roughly 3,850 hectares of the project are sitting on IF packages.
- IF Yet to Be Drilled: Even though the project has multiple gold showings, the IF has never been drilled, creating blue-sky potential as the company further develops promising targets
- Promising Historical Data: Historic drilling south of the IF has indicated up to 35 g/t gold over 1.6 meters. A grab sample of pyritic IF has indicated 5.64 g/t gold.
- Multiple Strong Drill Targets Identified: Current exploration data has already identified several promising drill targets for further exploration and development.
Argosy Gold Mine
The Argosy Gold Mine is immediately southeast of the North Birch Gold Project and is even closer to the Springpole Gold Deposit, which is only 10 kilometers away. Unlike the North Birch project, Argosy was a high-grade gold mine between 1931 and 1952. Including more recent exploration conducted in the early 2000s, 72 drill holes have generated promising data that have created strong confidence in the project.
Project Highlights:
- Promising Historical High-Grade Production: The Argosy Gold Mine was once the belt’s most significant gold producer before closing in 1952. While in operation, the mine produced 101,875 ounces of gold at 12.7 g/t.
- Recent Exploration Data Indicates Deeper Gold Deposits: The four gold veins that were previously mined reached a maximum depth of 270 meters. However, more recent exploration in 2003-04 indicated that gold mineralizations extend to 400 meters, which includes 10.46 g/t gold over 2.98m and 14.15 g/t gold over 1.65m.
- Underdeveloped Asset Showing Promising Results: Even with the above promising data, the asset has not had any work since 2005. Newrange Gold has leveraged existing data to identify multiple drill targets to commence in 2022.
Management Team
Robert Archer - President and CEO
Robert Archer has more than 40 years’ experience in the mining industry, working throughout the Americas. After spending more than 15 years with major mining companies, he held several senior management positions in the junior mining sector and co-founded Great Panther Mining Limited, now a mid-tier precious metals producer. He served as President & CEO of Great Panther from 2004-2017 and Director until 2020, and joined Newrange Gold Corp. as a Director in March 2018 followed by his appointment as CEO in January 2019 and President in October 2021. Mr. Archer is a Professional Geologist and holds an Honors BSc from Laurentian University in Sudbury, Ontario.
David Cross - CFO
David Cross is a CPA and CGA with over 21 years’ experience in the junior sector with a focus on finance and corporate governance. He is currently a partner of Cross Davis and Company LLP Chartered Professional Accountant, which specializes in accounting and management services for private and publicly-listed companies within the mining industry, and has recently been appointed CFO of Ashburton Ventures Inc.
Colin Jones - Independent Director
Colin Jones lives in New Zealand and is Principal Consultant for Orimco Resource Investment Advisors, based in Perth, Australia. He has almost 40 years’ experience as a mining, exploration and consulting geologist in a number of different geological environments on all continents. He has managed large exploration and due diligence projects, and has undertaken numerous bankable technical audits, technical valuations, independent expert reports and due diligence studies worldwide, most of which were on behalf of major international resource financing institutions and banks. Jones holds a Bachelor of Science (Earth Sciences) degree from Massey University, NZ.
David Salari - Independent Director
David Salari has worldwide experience in the design, construction and operation of extractive metallurgical plants. He is an engineer with more than 35 years of experience in the mining and mineral processing field and is currently the President and CEO of DENM Engineering.
Ron Schmitz - Independent Director
Ron Schmitz is the Principal and President of ASI Accounting Services Inc., a firm that has provided administrative, accounting and office services to public and private companies since July 1995. Schmitz has served as a Director and/or Chief Financial Officer of various public companies since 1997, and currently holds these positions with various public and private companies.
Newrange and Great Panther Terminate Agreement to Acquire Coricancha Mine in Peru
(TheNewswire)
TSXV:NRG ) (OTC :NRGOF ) ( Frankfurt:X6C) Newrange Gold Corp. (" Newrange " or the " Company ") announces that it has signed a Mutual Termination Agreement with Great Panther Mining Limited ("Great Panther"), terminating the Share Purchase Agreement to acquire the Coricancha Gold-Silver-Copper-Lead-Zinc Mine in Central Peru
"We are deeply disappointed to have arrived at this outcome," stated Robert Archer, President and CEO of Newrange. "We have been working on this acquisition since March and believe strongly in the potential of the Coricancha Mine. However, the current market for mining stocks, one of the worst in decades, has created a serious impediment to financing, especially for new acquisitions. While we attempted to gain an extension to the closing date, the intransigence of Great Panther's creditors has, regrettably, made that impossible."
As a result of the termination of this acquisition, the Company will not be proceeding with the proposed financing, share consolidation and name change at this time and it is anticipated that trading in the Company's shares will resume within days.
About Newrange Gold Corp.
Newrange is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Further information can be found on our website at www.newrangegold.com .
Signed: "Robert Archer"
President & CEO
For further information contact :
Email: info@newrangegold.com
Website: www.newrangegold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Newrange Arranges Non-Brokered Private Placement for $10,080,000
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA TheNewswire - November 7, 2022 (TSXV:NRG ) (OTC :NRGOF ) ( Frankfurt:X6C) Newrange Gold Corp. (" Newrange " or the " Company ") announces that it is arranging a non-brokered private placement to raise gross proceeds of up to $10,080,000 (the "Offering"). The placement is anticipated to close on or about November 25, 2022 following a ‘one new for six old' share consolidation (to be voted upon by shareholders at the AGSM on November 23, 2022) and, as such, will be priced at the post consolidation share price of $0.18. The placement will consist of up to 56,000,000 units (the "Units") with each Unit comprising one common share ("Share") in the capital of the Company and one-half share purchase warrant ("Warrant"), whereby each whole Warrant shall be convertible into an additional Share at an exercise price of $0.27 for a period of 36 months from the date of issuance. The Company will have the right to seek an accelerated exercise of the Warrants if the price of the Shares trade in excess of C$0.40 for 10 consecutive trading days. All proceeds will be held by the Company in a separate account pending closing and will be released to the Company concurrently with the closing of the acquisition of the Coricancha Mine. If the closing does not occur by November 25, 2022, or such date to be mutually agreed upon, the proceeds will be returned to the investor without interest or deduction. A finder's fee of up to 7% in cash and 7% in warrants exercisable into Shares at $0.27 for a period of 36 months may also be paid.
The net proceeds raised from the Offering will be used for the acquisition of a 100% interest in the Coricancha Gold-Silver-Copper-Lead-Zinc ("Au-Ag-Cu-Pb-Zn") Mine in Central Peru ("Coricancha"; see Newrange news releases of September 13 and October 26 , 2022), continued care and maintenance costs, exploration and development of the mine and general working capital.
All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval. The securities offered have not been registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Coricancha is a high-grade, narrow-vein, underground mine in the Central Polymetallic Belt of Peru. It is located 90 kilometres east of Lima on the Central Highway and comprises a 600 tonne per day processing plant, dry-stack tailings storage facility and all necessary surface and underground infrastructure. The mine was in production intermittently from 1906 – 2013 and has been on care-and-maintenance since then. The mine, plant and dry-stack tailings storage facility are in excellent shape and are fully permitted. Coricancha is located within a well-established mining district and local communities are fully supportive of the operation. Two of three community agreements are already in place, with the third only pending a final signature.
A Mineral Resource Estimate was filed for Coricancha with an effective date of December 20, 2017 1 that is considered by Newrange to be Historical in nature. The Company is not relying on these estimates as a qualified person on behalf of Newrange has not done sufficient work to classify them as current mineral resources. Newrange intends to conduct its own drilling to bring the resource estimate into compliance for the Company. The Historical Resource comprises total Measured and Indicated Resources of 752,759 tonnes at 5.8 grams per tonne ("g/t") Au, 200 g/t Ag, 0.53% Cu, 2.07% Pb and 3.26% Zn (999 g/t silver equivalent ounces 2 ("Ag Eq Oz")), for a contained 24.20 million Ag Eq Oz, and total Inferred Resources of 943,160 tonnes at 5.0 g/t Au, 209 g/t Ag, 0.64% Cu, 1.45% Pb and 3.25% Zn (934 g/t Ag Eq Oz) for a contained 28.36 million Ag Eq Oz. The Historical Resource Estimate and associated Preliminary Economic Assessment are available as a reference on SEDAR at www.sedar.ca .
There are more than twenty veins known in the Coricancha deposit with most past production having come from the Constancia and Wellington Veins, approximately 600 metres apart and parallel to one another. They have a known strike length of more than 1,500 metres and a vertical extent in excess of 1,000 metres. A third vein, Escondida, lies between, and appears to connect, the two and has seen minimal exploration, development or production yet shows excellent potential, particularly where it is exposed on the main haulage level at 3140 metres above sea level. A development drift on this level exposed the Escondida vein over several hundred metres of strike length and ended at a face assaying 429 g/t Ag, 7.17% Cu, 0.42 g/t Au, 0.37% Pb and 0.68% Zn over 2.1 metres. Newrange intends to initially focus on the Escondida vein with the intent to define a new, updated resource estimate and mine plan. At full production, it is estimated that Coricancha could produce approximately 3 million Ag Eq Oz per year.
Note (1): NI 43-101 Resource Update Technical Report on the Coricancha Mine Complex, Huarochiri Province, Lima Region, Peru for Great Panther Silver Limited. Submitted by Golder Associates Inc. as Report Assembler of the work prepared by or under the supervision of the Qualified Persons Named as Authors.
(2): Ag Eq g/t = Ag g/t + (Pb grade x ((Pb price per lb/Ag price per oz) x 0.0685714 lbs per Troy Ounce x 10000 g per %)) +(Zn grade x ((Zn price per lb/Ag price per oz) x 0.0685714 lbs per Troy Ounce x 10000 g per %)) + (Cu grade x ((Cu price per lb/Ag price per oz) x 0.0685714 lbs per Troy Ounce x 10000 g per %)) + (Au grade x (Au price per oz/Ag price per oz)).
About Newrange Gold Corp.
Newrange is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. The proposed acquisition of the Coricancha Mine in Peru will give the Company a renewed focus on mine site exploration, development and production but the Company still intends to advance the Red Lake projects. Further information can be found on our website at www.newrangegold.com .
Signed: "Robert Archer"
President & CEO
For further information contact :
Phone: 604-669-0868
Email: info@newrangegold.com
Website: www.newrangegold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Newrange Signs Definitive Agreement to Acquire Coricancha Au-Ag-Cu-Pb-Zn Mine in Peru
(TheNewswire)
TSXV:NRG ) (OTC :NRGOF ) ( Frankfurt:X6C) Newrange Gold Corp. (" Newrange " or the " Company ") announces that, on October 25, 2022 and further to the Letter of Intent signed on September 12, 2022, it signed a Share Purchase Agreement (the "Agreement") with Great Panther Mining Limited ("Great Panther") to acquire a 100% interest in the Coricancha Gold-Silver-Copper-Lead-Zinc ("Au-Ag-Cu-Pb-Zn") Mine in Central Peru ("Coricancha
Coricancha is a high-grade, narrow-vein, gold-silver-copper-lead-zinc underground mine in the Central Polymetallic Belt of Peru. It is located 90 kilometres east of Lima on the Central Highway and comprises a 600 tonne per day processing plant, dry-stack tailings storage facility and all necessary surface and underground infrastructure. The mine was in production intermittently from 1906 – 2013 and has been on care-and-maintenance since then but is in excellent shape and is fully permitted. It is located within a well-established mining district and local communities are fully supportive of the operation. Two of three community agreements are already in place, with the third only pending a final signature.
"We are pleased to have moved forward in our discussions with Great Panther to acquire the Coricancha Mine," stated Robert Archer, President and CEO of Newrange. "We anticipate filing all required documents with the TSX Venture Exchange ("TSXV" or the "exchange") this week, including a NI 43-101 technical report, as the acquisition is subject to exchange approval. In parallel, we are working on a financing to ensure that we have adequate cash for not just the acquisition but for working capital and a drilling program."
Under the terms of t he Agreement, Newrange will purchase all of the shares of Great Panther Peru Holdings Ltd. and Great Panther Silver Peru, S.A.C., both wholly owned subsidiaries of Great Panther and the owners of the Coricancha Mine. Newrange will make a single cash payment of US$750,000 to Great Panther upon closing and the acquisition will be on an "as-is" basis (the "Transaction"). Being an arm's length and cash-only Transaction, shareholder approval will not be required, however, it will constitute a Fundamental Acquisition for Newrange and will be subject to exchange approval, which, in turn will be subject to financing. Completion of the Transaction is also subject to certain conditions including, but not limited to, receipt of court approval by Great Panther.
About Newrange Gold Corp.
Newrange is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. The proposed acquisition of the Coricancha Mine in Peru will give the Company a renewed focus on mine site exploration, development and production but the Company still intends to advance the Red Lake projects. Further information can be found on our website at www.newrangegold.com .
Signed: "Robert Archer"
President & CEO
For further information contact :
Phone: 604-669-0868
Email: info@newrangegold.com
Website: www.newrangegold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Newrange Signs Letter of Intent to Acquire Coricancha Au-Ag-Cu-Pb-Zn Mine in Peru
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA TheNewswire - September 13, 2022 (TSXV:NRG ) (OTC :NRGOF ) ( Frankfurt:X6C) Newrange Gold Corp. (" Newrange " or the " Company ") announces that, on September 12, 2022, it signed a non-binding Letter of Intent with Great Panther Mining Limited ("Great Panther") to acquire a 100% interest in the Coricancha Gold-Silver-Copper-Lead-Zinc ("Au-Ag-Cu-Pb-Zn") Mine in Central Peru ("Coricancha") . It is anticipated that a Definitive Agreement will be signed in the coming weeks.
Coricancha is a high-grade, narrow-vein, gold-silver-copper-lead-zinc underground mine in the Central Polymetallic Belt of Peru. It is located 90 kilometres east of Lima on the Central Highway and comprises a 600 tonne per day processing plant, dry-stack tailings storage facility and all necessary surface and underground infrastructure. The mine was in production intermittently from 1906 – 2013 and has been on care-and-maintenance since then but is in excellent shape and is fully permitted. It is located within a well-established mining district and local communities are fully supportive of the operation. Two of three community agreements are already in place, with the third only pending a final signature.
"I am very excited about the opportunity to acquire the Coricancha Mine," stated Robert Archer, President and CEO of Newrange. "I believe the project presents an exceptional opportunity to build a significant resource, develop the known veins towards production and further explore the property. Despite the long production history, there have only been 105 holes drilled on the property since 2010 and there is tremendous opportunity to extend the mine life and make new discoveries. In making this acquisition, Newrange is effectively following a well-established business model of bringing a past producing mine back into production, with the intent to supplement the future growth of the Company out of cash flow rather than straight equity."
A Mineral Resource Estimate was filed for Great Panther with an effective date of December 20, 2017 1 that is considered by Newrange to be Historical in nature. The Company is not relying on these estimates as a qualified person on behalf of Newrange has not done sufficient work to classify them as current mineral resources. Newrange intends to conduct its own drilling to bring the resource estimate into compliance for the Company. The Historical Resource comprises total Measured and Indicated Resources of 752,759 tonnes at 5.8 grams per tonne ("g/t") Au, 200 g/t Ag, 0.53% Cu, 2.07% Pb and 3.26% Zn (999 g/t silver equivalent ounces 2 ("Ag Eq Oz")), for a contained 24.20 million Ag Eq Oz, and total Inferred Resources of 943,160 tonnes at 5.0 g/t Au, 209 g/t Ag, 0.64% Cu, 1.45% Pb and 3.25% Zn (934 g/t Ag Eq Oz) for a contained 28.36 million Ag Eq Oz. The Historical Resource Estimate and associated Preliminary Economic Assessment are available as a reference on SEDAR at www.sedar.ca .
There are more than twenty veins known in the Coricancha deposit with most past production having come from the Constancia and Wellington Veins, approximately 600 metres apart and parallel to one another. They have a known strike length of more than 1,500 metres and a vertical extent in excess of 1,000 metres. A third vein, Escondida, lies between, and appears to connect, the two and has seen minimal exploration, development or production yet shows excellent potential, particularly where it is exposed on the main haulage level at 3140 metres above sea level. A development drift on this level exposed the Escondida vein over several hundred metres of strike length and ended at a face assaying 429 g/t Ag, 7.17% Cu, 0.42 g/t Au, 0.37% Pb and 0.68% Zn over 2.1 metres.
There is a general zonation from gold, silver and arsenic in the upper parts of the deposit towards copper and silver in the ‘lower' levels (the system has not been adequately tested below the 3140m level). Lead and zinc occur throughout the deposit in varying amounts.
In the Letter of Intent, the acquisition is contemplated to take place via a share purchase agreement whereby Newrange will purchase all of the shares of Great Panther Peru Holdings Ltd. and Great Panther Silver Peru, S.A.C., both wholly owned subsidiaries of Great Panther and the owners of the Coricancha Mine. Terms of the acquisition call for Newrange to make a single cash payment of US$750,000 to Great Panther upon closing and the transaction will be on an "as-is" basis. Being a cash-only transaction, shareholder approval will not be required. As the acquisition will be subject to financing, the Company is contemplating a ‘one new for six old' share consolidation and subsequent name change to be effective upon closing. The transaction will constitute a Fundamental Acquisition for Newrange and will be an arm's length transaction, further details of which will be announced upon signing of the Definitive Agreement. Similarly, details of the financing, share consolidation and name change, should they occur, will be announced in due course, all of which will be subject to TSXV approval.
Note (1): NI 43-101 Resource Update Technical Report on the Coricancha Mine Complex, Huarochiri Province, Lima Region, Peru for Great Panther Silver Limited. Submitted by Golder Associates Inc. as Report Assembler of the work prepared by or under the supervision of the Qualified Persons Named as Authors.
(2): Ag Eq g/t = Ag g/t + (Pb grade x ((Pb price per lb/Ag price per oz) x 0.0685714 lbs per Troy Ounce x 10000 g per %)) +(Zn grade x ((Zn price per lb/Ag price per oz) x 0.0685714 lbs per Troy Ounce x 10000 g per %)) + (Cu grade x ((Cu price per lb/Ag price per oz) x 0.0685714 lbs per Troy Ounce x 10000 g per %)) + (Au grade x (Au price per oz/Ag price per oz)).
About Newrange Gold Corp.
Newrange is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. The proposed acquisition of the Coricancha Mine in Peru will give the Company a renewed focus on mine site exploration, development and production but the Company still intends to advance the Red Lake projects. Further information can be found on our website at www.newrangegold.com .
Signed: "Robert Archer"
President & CEO
For further information contact :
Phone: 604-669-0868
Email: info@newrangegold.com
Website: www.newrangegold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Newrange Provides Exploration Update
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA TheNewswire - May 17, 2022 (TSXV:NRG ) (OTC :NRGOF ) ( Frankfurt:X6C) Newrange Gold Corp. (" Newrange " or the " Company ") is pleased to provide an update on its exploration projects in the Red Lake District of Ontario and the Walker Lane Trend of Nevada.
North Birch Project
At the North Birch Project, 110 kilometres northeast of Red Lake, two diamond drill holes were completed for a total of 723 metres. Although the winter drill program was expected to include additional holes, highly variable weather forced a late start and early conclusion. The holes were drilled to test a folded sequence of Iron Formation ("IF") and volcanic rocks in a structural setting similar to the Musselwhite Mine, 190 kilometres to the northeast (see Figure 1 below).
Figure 1: North Birch Drill Holes in ‘Fold Nose' interpreted from airborne magnetics
As previously reported (Newrange Press Release of March 9, 2022), hole NB22001 intersected a deformation zone more than 100 metres wide that had been interpreted from geophysics and LiDAR surveys. The hole collared in massive to pillowed Fe-tholeiitic basalt and shearing started approximately 200 metres downhole, becoming more intense with depth. The basalt becomes increasingly magnetic downhole and laminated IF first appears at 421 metres. Folding is apparent in the IF and both basalt and IF display moderate to intense carbonate alteration and local quartz veining. Pyrite and pyrrhotite mineralization occur as disseminations, stringers and, locally, as ‘clots' within quartz veins and veinlets.
Gold and copper assays increased downhole as shearing intensified. Values were geochemically anomalous, with high values of 0.25 g/t Au and 363 ppm Cu, and the relationship of gold and copper to shearing, quartz-carbonate alteration and pyrite-pyrrhotite mineralization are all encouraging signs considering that this horizon has never been drilled before. Not only does Newrange control about eight kilometres of this horizon but this first hole stopped in highly sheared IF at 460 metres (vertical depth of approximately 320 metres) as the drill had reached its depth limitation. Follow up holes will be drilled in the opposite direction due to the local topography and the sub-vertical dip of the zone.
Hole NB22002 was drilled 800 metres along stratigraphic strike to the northwest to test coincident magnetic and Induced Polarization anomalies. The hole was drilled to 263 metres at -50°, in massive to pillowed basalt and mafic tuff. While the anomalies were explained by the presence of chalcopyrite- pyrrhotite stringers, which returned no significant gold assays, a zone of strong biotite alteration with highly anomalous trace element geochemistry was intersected just below this zone, indicating strong hydrothermal activity. The deformation zone and IF intersected in the first hole were not seen in the second hole indicating that this structure does not appear to follow exactly along the main limb of the fold but likely trends closer to the central axis.
"We are very encouraged by the presence of strong deformation, alteration, and anomalous geochemistry in the initial holes at North Birch," stated Robert Archer, President & CEO of Newrange. "Considering that this horizon is not exposed at surface and has never been drill-tested before, these are all positive indicators that are common to gold systems elsewhere in the Uchi Subprovince. We look forward to follow-up drilling to better understand the overall setting."
Argosy Gold Mine Project
Due to the above-described weather challenges and resulting shortened drilling season, no holes were drilled on the adjacent Argosy Gold Mine Project this past winter. However, the first drill sites have been prepared and the initial holes will test both the down-dip extension of gold mineralization below the historic mine workings and in parallel, un-mined veins closer to surface.
Pamlico Project
Management has conducted an in-depth analysis of results to date on the Pamlico Property in Nevada, including an in-house (not NI43-101 compliant) assessment of the Merritt Decline Area and other exploration targets on the property. Following a comprehensive strategic review, which appropriately considered current market conditions and high holding costs, the Board of Directors has concluded that the continuation of the project is no longer in the best interest of shareholders and has terminated the option agreement.
Potential Acquisitions
As part of the aforementioned strategic review, Newrange is actively reviewing several potential acquisition targets in order to maximize shareholder value. The Board is committed to finding a new flagship project that will have the potential to provide significant upside. Discussions are ongoing in this regard and the Company will inform shareholders of any progress in a timely manner.
QA/QC
All drill core was logged, and samples assayed for gold and multi-elements by AGAT Laboratories in Thunder Bay, Ontario. The Company's QA/QC sample protocol consisted of the collection of samples no less than 0.10 metres and no greater than 1.5 metres in core length over the mineralized portions of the drill hole. Envelopes to mineralized zones were commonly sampled as well. The drill core was cut in half with a diamond saw, with half of the core placed in sample bags and the other half secured in the core box on site. One commercially prepared standard or blank was inserted in series every ten samples (10% of the samples). Samples were then transported by company personnel directly to the AGAT Labs facility. AGAT received, recorded and tracked all samples. Gold analyses were obtained by industry standard fire assay with ICP finish using a 30 gram aliquot. For samples returning values greater than 10 g/t gold, follow-up fire assay with a gravimetric finish is completed. Samples were also analyzed for 35 element trace and major element ICP-OES. AGAT Laboratories is an ISO 9001:2015 and ISO/IES 17025:2017 accredited lab for the preparation and analyses performed on the Newrange samples.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by David Hladky , P.Geo., Senior Geologist for Newrange and a Qualified Person as defined under National Instrument 43-101.
About Newrange Gold Corp.
Newrange is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .
President & CEO
For further information contact :
Sharon Fleming
Corporate Communications
Phone: 760-898-9129
Email: info@newrangegold.com
Dave Cross
Chief Financial Officer and Corporate Secretary
Phone: 604-669-0868
Email: dcross@crossdavis.com
Website: www.newrangegold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
Copyright (c) 2022 TheNewswire - All rights reserved.
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Advancing Multiple Gold Discoveries in Proven Jurisdictions
Focused on adding value through cost effective minerals exploration and discovery
The information contained in this Presentation or subsequently provided to the Recipient of this Presentation whether orally or in writing by or on behalf of the Company or its employees, agents or consultants ("Information") is provided to the Recipients on the terms and conditions set out in this notice. The purpose of this Presentation is to provide Recipients with Information relating to the Company. The Presentation has been prepared by the Company and each Recipient must make his/her own independent assessment and investigation of the Company and its business and assets and should not rely on any statement or the adequacy and accuracy of any Information contained in this Presentation.
The Company makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of the Information. The Company and its directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the Presentation, except liability under statue that cannot be excluded.
The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. This Presentation does not constitute in any way an offer or invitation to subscribe for securities in the Company pursuant to the Corporations Act.
Statements regarding the Company’s plans with respect to its mineral properties are forward-looking statements. There can be no assurance that the Company’s plans for development or proposed exploration activity will proceed as currently expected. There can also be no assurance that the Company will be able to confirm the presence of mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties.
The information in this report that relates to Exploration Results is based on, and fairly represents, information compiled by Mr Travis Schwertfeger, who is a Member of the Australasian Institute of Geoscientists. Mr Schwertfeger is the Executive Chairman of the Company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a competent person as defined in the 2012 Edition of the “Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves” (JORC Code). Mr Schwertfeger consents to the inclusion in this report of the matters based upon his information in the form and context in which it appears.
References may have been made in this announcement to certain past ASX announcements, including references regarding exploration results. For full details, refer to the referenced ASX announcement on the said date. The Company confirms that it is not aware of any new information or data that materially affects the information included in these earlier market announcements.
Released with the authority of the board of Many Peaks Minerals Limited.
Click here for the full ASX Release
This article includes content from Many Peaks Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Significant Mineralisation Intersected at Auld Creek
Highlights
Diamond drillhole ACDDH015 has been completed, intersecting both the Bonanza East and Fraternal Shoots.
- ACDDH015 follows up from encouraging results from the 2023 Bonanza East drilling campaign, ie. 5m @ 4.1g/t Au, 7.0% Sb for 20.6g/t AuEq from 78.3m.
- ACDDH015 intersected the Bonanza East Shoot between 69.6m and 80.8m for a total downhole length of 11.2m.
- The intersection contains significant visible stibnite mineralisation, including a very rich 5m section containing between 15-35% stibnite based on a combination of visual estimates and pXRF analysis. Assay results are awaited.
- The Fraternal Shoot was intersected between 105m and 126m for a total downhole length of approximately 21m. The hole intersected moderate to strong acicular arsenopyrite throughout the hole, with moderate stibnite and quartz veining between 105m and 109m.
“It is pleasing to see the first drillhole of 2024 deliver some outstanding visual results and we look forward to the laboratory assays confirming our initial analysis in the coming weeks. The ongoing drilling at Auld creek is expected to add significantly to our understanding of the Antimony and Gold distribution within the mineralisation and will be used to update the Auld Creek Inferred MRE.
“Planning is well advanced to recommence drilling at Sams Creek next month to test the Anvil Zone where Siren recently identified a significant new drill target. The Sams Creek porphyry dyke extends over 7kms long, is up to 60m thick, and extends down dip for at least 1km and includes the Company’s Main Zone MRE of 824,000 oz @ 2.8g/t Au1.
“Additionally, it is fantastic to see the support of the New Zealand Government in introducing the Fast Track Approvals Bill for accelerated development of major projects. This is a very positive step for mining projects in New Zealand and we look forward to working with the Government and key stakeholders to progress our exploration programs at Reefton and Sams Creek to mining permit status“.
Click here for the full ASX Release
This article includes content from Siren Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Polymetallic Strike and Depth Potential Identified at Firetower Project
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide an update on its exploration activities at its 100%-owned Firetower Project located in northwest Tasmania.
Highlights
- Final assay results from recent 4-hole diamond drilling program at the Firetower polymetallic (Au-Co-W-Cu) prospect have been received and reviewed
- All holes intercepted significant mineralised intervals, with a best result (previously reported) of:
- 2019FTD007E:
- 17.0m @ 2.31g/t Au, 0.16% Co, 0.38% WO3, 0.16% Cu from 121.0, including:
- 1.7m @ 6.64g/t Au, 0.12% Co, 0.87% WO3 and 0.14% Cu from 121m and
- 5.5m @ 3.27g/t Au, 0.24% Co, 0.53% WO3, 0.33% Cu from 132.5m
- 17.0m @ 2.31g/t Au, 0.16% Co, 0.38% WO3, 0.16% Cu from 121.0, including:
- 2019FTD007E:
- Modelling of updated drilling data indicated key structural controls to polymetallic mineralisation zones at Firetower
- Depth and strike extension target zones recognised
- Detailed surface mapping and sampling program has commenced over priority target areas
“The drilling program was successful in testing for depth extensions of the main mineralised zone and providing key geological and structural information which greatly improves our understanding of the controls to high-grade mineralisation at the Firetower project.
“Our initial review of the project generated depth extension targets that we started testing with an initial 4-hole drill program in November 2023.
“Previous drilling at Firetower has been generally shallow across a limited strike length, with very few holes extending beyond 100m from the surface. Several historic drill holes reportedly ended in mineralisation.
“These early results demonstrate the continuity of polymetallic mineralisation and highlight the significant potential for high-grade mineralisation to continue at depth and along strike.”
Firetower Drilling
The Company completed 496m of diamond drilling at the Firetower prospect in December 2023 with extension tails to three historical diamond holes and one new hole drilled. The drilling followed a due diligence period of historical data validation and review, drill core resampling, drill program planning, environmental surveys, community and stakeholder liaison, access clearance and statutory work program permitting carried out by the Company.
The short drill program was designed to test for depth/strike extensions to historically drilled polymetallic (Au-Co-W-Cu) mineralisation, and to provide stratigraphic and structural information to assist geological evaluation of controls to high-grade mineralisation. All assay results have now been received from the drilling. See Figures 1 & 2 and Appendix 1 for details of the latest drilling.
As previously reported1, extension drill hole 2019FTD007E was drilled for 83.2m from 98.7m – 181.9m to test for the continuation of gold-cobalt-tungsten-copper mineralisation at depth and along strike from hole 2019FTD006 (9.0m @ 2.56g/t Au, 0.25% Co, 0.32% WO3, 0.1% Cu from 99.0m, including 3.0m @ 8.59g/t Au, 0.29% Co, 0.83% WO3, 0.21% Cu from 105m).
Hole 2019FTD007E intersected the thickest down-hole zone of polymetallic mineralisation ever drilled at Firetower, with:
- 17m @ 2.31g/t Au, 0.16% Co, 0.38% WO3 and 0.16% Cu from 121m; including:
- 1.7m @ 6.64g/t Au, 0.12% Co, 0.87% WO3 and 0.14% Cu from 121m and
- 5.5m @ 3.27g/t Au, 0.24% Co, 0.53% WO3 and 0.33% Cu from 132.5m.
Extension drill hole 2019FTD004E was drilled for 121.1m from 106m – 227.1m. Highlights from this extended hole include (as previously reported):
- 9.1m @ 0.85g/t Au, 0.1% Co, 0.09% WO3 and 0.15% Cu, from 111.9m, including
- 2.4m @ 1.7g/t Au, 0.15% Co, 0.26% WO3 and 0.19% Cu from 118.6m.
Extension drill hole 2019FTD005E was drilled for 76.9m from 120.5m – 197.4m. Best intercept in the hole was:
- 2.4m @ 1.37g/t Au, 0.15% Co, 0.35% WO3, 0.04% Cu from 141.0m.
Hole FT-2023-001, drilled from surface to a down-hole depth of 214.8m, intercepted a best polymetallic intercept associated with a discrete zone of chalcopyrite-rich sulphide breccia veining of:
- 0.75m @ 5.33g/t Au, 2.65% Cu, 0.005% Co, 0.05% WO3 from 159.75m.
Firetower Geological Modelling
The results of Flynn’s drilling are highly encouraging and confirm that follow-up exploration is warranted at Firetower. Modelling of updated drill hole structural and stratigraphic data (including 3D modelling) is in progress to evaluate controls to the high-grade polymetallic Au-Co-W-Cu mineralisation at Firetower and optimise targets for potential follow-up drilling.
Click here for the full ASX Release
This article includes content from Flynn Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Acquisition of Advanced Gold Projects in Cote D’Ivoire
Many Peaks Minerals Limited (ASX:MPK) (Many Peaks or the Company) is pleased to announce entering a binding Share Sale Agreement (Agreement) with Turaco Gold Limited (Turaco) to acquire its 89% interest in CDI Holdings (Guernsey) Ltd (CDI Holdings). CDI Holdings is an 89% subsidiary of Turaco, held with Predictive Discovery Limited (Predictive), holding an 11% free carry ownership in a joint venture with Turaco. The Agreement will trigger Turaco’s drag-along right in its joint venture with Predictive, whereby Many Peaks will also acquire Predictive’s remaining 11% interest and consolidate 100% ownership of the joint venture entity CDI Holdings.
HIGHLIGHTS
- Agreement to acquire 100% interest in Turaco Gold Ltd and Predictive Discovery Ltd joint venture holding the right to acquire an 85% interest in four mineral permits in Cote d’Ivoire
- Permits cover expansive 1,275km2 land package including recent gold discoveries with over US$4m previous exploration expenditure
- Acquisition includes the Ferke Gold Project, hosting the recent Ouarigue South discovery with open mineralisation ready for follow-up, and the Odienne Project immediately along strike from new gold discoveries
- Drilling to commence as soon as practicable in the coming quarter
Ferke Gold Project, 300km2
- 16km mineralised trend in soils with limited exploration follow-up.
- Previous diamond drilling confirms new discovery at the Ouarigue South prospect; results include:
- 35.95m @ 3.88 g/t gold within 77.6m @ 2.33 g/t gold from 45.9m and; 4.7m @ 6.14 g/t gold from 134m – FNDC001
- 91.1m @ 2.02 g/t gold from surface – FNDC008
- 47m @ 3.72 g/t gold from surface – FNDC012
- 15m @ 2.06 g/t gold from surface and 116.5m @ 0.98 g/t gold from 34.5m, including 30.09m @ 1.86 g/t gold – FNDC005
- 18m @ 3.38 g/t gold from 107m and; 13.65m @ 2.13 g/t gold from 194m – FNDC018
- 9.75m @ 7.46 g/t gold within 54.17m @ 1.88 g/t gold from 59.58m – FNDC019
Odienne Project, 758km2
- Project covers significant extent of high-strain corridor associated with the Archean domain
- margin and is comparable in stratigraphy to Guinea’s Siguiri basin
- On trend with Predictive’s 5.4Moz Au Bankan Project and Centamin’s 2.16Moz ABC project and contiguous to a new discovery by Awalé Resources/Newmont joint venture
- Recent first pass, wide-spaced air core drilling highlights a continuous zone of mineralisation returning >1g/t gold over 1,200m strike extent, with results including:
- 12m @ 1.18g/t gold from 4m
- 12m @ 1.06g/t gold from 16m
- 8m @ 1.30g/t gold from 28m
The consideration for the purchase of 100% of CDI Holdings will be an aggregate 5,617,978 fully paid ordinary shares in Many Peaks subject to a 12 month escrow, to be issued under the Company’s capacity under ASX listing rule 7.1. Upon completion, Many Peaks will also assume a royalty deed for a 1% net smelter return royalty payable to Resolute (Treasury) Pty Ltd (Resolute)—further information on terms and conditions precedent outlined below.
Many Peaks’ Executive Chairman, Travis Schwertfeger, commented: “The Ferke and Odienne Projects in Cote d’Ivoire deliver Many Peaks a strong foundation of exploration success in Cote d’Ivoire with the potential to build significant high- grade ounces in the near term. Both projects are already covered with systematic geochemical coverage and high-resolution geophysics, which have led to demonstrated gold mineralisation confirmed in drilling. Leveraging over US$4m of previous expenditure in recent years has generated multiple targets ready for follow-up, including extension targets, providing Many Peaks with a transformational acquisition with near-term resource potential viable.
Our team has a depth of West African operating experience tied to multiple discovery and development projects over the past 15 years, and our technical team looks forward to operating in Cote d'Ivoire again. Over recent years, it has emerged as a premier jurisdiction within West Africa to operate in, with several recent exploration and development successes.
Figure 1: Project Locations
Ferke Gold Project
The Ferké Gold Project (Ferke) is located in northern Cote d’Ivoire, covering 300km2 in a granted exploration permit licence. Ferke is situated on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones (refer to Figure 1). Initial exploration undertaken at the Ferke Gold Project by Predictive Discovery Ltd in 2016 and 2017 (previously referred to as Ferkessedougou North) comprised several phases of geochemical stream and soil sampling across the permit area, which has defined a more than 16km long gold-in-soils anomaly on the ‘Leraba Gold Trend’ (refer to Figure 2 and Predictive’s ASX announcement dated 2 February 2017).
Click here for the full ASX Release
This article includes content from Many Peaks Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Barrick to Look for More Gold and Copper Through DRC Partnership
Barrick Gold (TSX:ABX,NYSE:GOLD) is setting its sights on expanding its operations through a partnership with the Democratic Republic of Congo (DRC) that would open up new gold and copper opportunities for the company.
Kibali — the company’s joint venture with AngloGold Ashanti (NYSE:AU,JSE:ANG) — continues to set production records after another successful year, punctuated by the 343,000 ounces of gold it produced in 2023.
Barrick is forecasting higher attributable production from Kibali in 2024, setting a goal of 320,000 to 360,000 ounces.
The company also believes the DRC-based gold mine is set to replace the ounces it depletes through mining.
Barrick President and Chief Executive Mark Bristow, through a March 20 press release, commented on the strong returns yielded by the company’s Congolese investment, which has become Africa's largest gold mine.
“Kibali has transformed what was previously the disadvantaged north-east region of the country into a new economic frontier and a flourishing commercial hub,” he said. “Of our US$5 billion investment in the DRC, more than half has been spent with local contractors and suppliers, many of whose growth into substantial businesses we have promoted by enhancing their commercial and technical skills and providing them with the opportunities to exercise these."
Kibali is also in the process of transitioning to renewable energy. Barrick said it plans to commission a 16 megawatt solar plant and associated batteries next year, increasing renewable energy use from 81 to 85 percent.
The mine will run only on renewable power through the DRC's six month rainy season.
While Kibali is a gold-focused operation, the DRC is not a top 10 producer of the yellow metal. However, copper production in the country has been rising in recent years, and the DRC took the third top spot in 2023.
The DRC is also one of the world’s leading producers of the critical minerals cobalt and tantalum.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
AGNICO EAGLE PROVIDES NOTICE OF RELEASE OF FIRST QUARTER 2024 RESULTS, CONFERENCE CALL AND ANNUAL MEETING
Stock Symbol: AEM (NYSE and TSX)
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today announced that it will release its first quarter 2024 results on Thursday, April 25, 2024 after normal trading hours. Additionally, the Company will host its Annual and Special Meeting of Shareholders (the "AGM") the following day, Friday, April 26, 2024 in a hybrid format (in Toronto and virtually).
Agnico Eagle's senior management will host a conference call on Friday, April 26, 2024 at 8:30 AM (E.D.T.) to discuss the Company's financial and operating results.
Via Webcast :
A live audio webcast of the conference call will be available on the Company's website at www.agnicoeagle.com .
Via URL Entry :
To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3Rvps04 to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator (see "Via Telephone" details below).
Via Phone :
For those preferring to listen by phone, please dial 416.764.8659 or toll-free 1.888.664.6392. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.
Replay Archive :
Please dial 416.764.8677 or toll-free 1.888.390.0541, access code 505445#. The conference call replay will expire on May 26, 2024 .
The webcast, along with presentation slides, will be archived for 180 days on the Company's website.
The AGM will begin on Friday, April 26, 2024 at 11:00 AM (E.D.T). During the AGM, management will provide an overview of the Company's activities.
Hybrid Format
The AGM will be held in person at the Arcadian Court, 401 Bay Street, Simpson Tower, 8 th Floor, Toronto, Ontario , M5H 2Y4 and online at: https://meetnow.global/MFJPVMP .
The Company is conducting a hybrid meeting that will allow registered shareholders and duly appointed proxyholders to participate both online and in person. The Company is providing the virtual format in order to provide shareholders with an equal opportunity to attend and participate at the AGM.
For details explaining how to attend, communicate and vote virtually at the AGM please see the Company's Management Information Circular dated March 22, 2024 , filed under the Company's profile on SEDAR at www.sedarplus.ca and on EDGAR at www.sec.gov . Shareholders who have questions about voting their shares or attending the AGM may contact Investor Relations by phone at 416.947.1212, by toll-free phone at 1.888.822.6714 or by email at investor.relations@agnicoeagle.com or may contact the Company's strategic shareholder advisor and proxy solicitation agent, Laurel Hill Advisory Group, by phone at 1.877.452.7184 (toll free in North America ), at 1.416.304.0211 (for collect calls outside of North America ) or by e-mail at assistance@laurelhill.com .
Agnico Eagle Mines Limited
145 King Street East , Suite 400
Toronto, Ontario , M5C 2Y7
investor.relations@agnicoeagle.com
Phone: 416.947.1212
Fax: 416.367.4681
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, 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. Agnico Eagle 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-provides-notice-of-release-of-first-quarter-2024-results-conference-call-and-annual-meeting-302097594.html
SOURCE Agnico Eagle Mines Limited
View original content: http://www.newswire.ca/en/releases/archive/March2024/25/c8804.html
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