500000 brl to usd

Sienna Closes on the Drill Ready "Blue Clay Lithium Project" in the Clayton Valley of Nevada

Sienna Resources Inc. (TSXV: SIE) (OTC PINK: SNNAF) (FSE: A1XCQ0) ("Sienna" or the "Company") is pleased to announce that it has closed an option agreement dated September 30, 2021 to acquire the Blue Clay Lithium Project in Clayton Valley Nevada. This project consists of 94 contiguous claims totaling approximately 1950 acres prospective for lithium. Management is now planning to drill as soon as possible, expected to happen this quarter.

Jason Gigliotti, president of Sienna Resources, states: "We are very pleased to close on this exciting lithium project. Lithium prices have just traded to all-time highs this week and we look forward to getting to work as soon as possible on this drill ready prospect. Nevada has become one of the most sought after lithium addresses in the world, and Sienna is located in multiple locations in this prolific region. Management is very optimistic about the short-term prospects for this project and expects to have a steady flow of news."

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/854/100289_746d97468430bae2_002full.jpg

Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/854/100289_746d97468430bae2_002full.jpg

Pursuant to the terms of the option agreement, the optionee shall have the exclusive right and option to earn a 100-per-cent interest in the property from the owner by issuing a total of four million common shares (subject to a four-month hold) and by making cash payments totaling $60,000 in cash as set out below:

(a) Paying the Optionor ('Chancellor Corp', or the 'Optionor') $30,000 and issuing the Optionor 2,000,000 common shares within five (5) days of TSX Venture Exchange ("Exchange") approval;

(b) Paying the Optionor $30,000 and issuing the Optionor 1,000,000 common shares prior to the date that is six (6) months from the date of Exchange approval; and

(c) Issuing the Optionor 1,000,000 common shares prior to the date that is twelve (12) months from the date of Exchange approval.

1) The Optionee also agrees to pay any annual taxes and fees to maintain the claims listed in Schedule "A" (the "Claims") and supply proof of payment to the Owner.

2) The Optionee also agrees to pay any maintenance fees due during the due diligence process and if no agreement is reached, the Owner agrees to reimburse the Optionee the balance of any fees paid to maintain the claims listed in Schedule "A" (the Claims).

3) Upon fulfilling the obligations set out in paragraphs 3 and 4 above, the Optionee will acquire 100% right, title, and interest in and to the Property subject only to:

(a) a 1.5% Net Smelter Return ("NSR"), (as more particularly described in "Schedule B" attached hereto) to the Owner provided that the Optionee shall have the right to purchase 0.75% NSR for $500,000 at any time up to commencement of production; and

(b) Providing the Owner written notice of its intention to exercise its option pursuant to the Agreement.

About Sienna Resources Inc.

Sienna Resources is focused on exploring for and developing high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with a New York Stock Exchange-listed mining company on two separate projects in Scandinavia including the past-producing Bleka and Vekselmyr orogenic gold projects in southern Norway which are both greenstone-hosted gold systems, and the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being advanced by Palladium One Mining Inc. In North America, Sienna's projects include the Marathon North platinum-palladium property in Northern Ontario directly bordering Generation Mining Ltd.'s 7.1-million-ounce palladium-equivalent Marathon deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nev., home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp.'s Silver Peak deposit and Tesla Motors Inc.'s Gigafactory. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the company's properties.

The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.

If you would like to be added to Sienna's email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources.

Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com

"Jason Gigliotti"
President, Director
Sienna Resources Inc.

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 press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100289

News Provided by Newsfile via QuoteMedia

The Conversation (0)
True North Copper

True North Copper Commences Mining at Wallace North, QLD

True North Copper Limited (ASX: TNC) (TNC or the Company) is pleased to announce mining operations at its Wallace North deposit in northern Queensland have commenced, with clearing activities and blast hole drilling underway.

Keep reading...Show less

Lundin Mining Announces Updated Share Capital and Voting Rights

Lundin Mining logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Forum Announces Closing of Private Placement, Stock Option Grant and Liquidity Services Agreement

Forum Announces Closing of Private Placement, Stock Option Grant and Liquidity Services Agreement

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") is pleased to announce that, further to its news releases of June 3 and June 24, 2024, it has closed its non-brokered private placement and has issued 7,084,020 units (the "Units") at a price of $0.135 per Unit for gross proceeds of $956,343 (the "Offering"). Each Unit consists of one common share and one-half of one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share (each a "Warrant Share") at a price of $0.20 per Warrant Share for a period of 24 months expiring June 26, 2026.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Copper metal tubes side by side ascending in height.

A Look at Historical Copper Prices (Updated 2024)

Copper has had a volatile few years; however, amid various ups and downs, prices for the red metal hit an all-time high on May 20, 2024, trading at US$5.20 per pound on the COMEX.

Interestingly, by looking backwards it’s easy to see that this spike was an expected feature of the long-term picture for copper prices. The red metal has rebounded after a downtrend from about 2011 to 2015, and over the last few decades prices have increased even more dramatically.

Case in point — at the time of its new high in May 2024, the copper price has increased over 500 percent since January 2000. Although this impressive major increase doesn't account for inflation, it's still a sizeable gain. Let's take a deeper dive into copper prices going back even further.

Keep reading...Show less
Copper bars increasing in size with an arrow above pointing up.

How to Invest in Copper (Updated 2024)

Copper has long been held up as a key indicator of global economic health, and as the world electrifies it's taking on a new shine, making it a potentially compelling choice for green-minded investors.

Often called Dr. Copper, copper is one of the most followed base metals, and its high ductility and electrical conductivity make it the third most consumed industrial metal, behind iron ore and aluminum, as per the US Geological Survey.

Given its attributes, copper is often used for electrical purposes such as power transmission and generation. And like its base metal sibling nickel, it has a major role in the electric vehicle revolution, with experts at S&P Global expecting consumption of copper to jump 20 percent by 2035 due to demand from the green energy market.

Keep reading...Show less
Vizsla Copper (TSXV:VCU)

Vizsla Copper Begins Drilling at Woodjam Copper-Gold Property

Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0) ("Vizsla Copper" or the "Company") is pleased to announce the start of the summer core drilling program at the Woodjam copper-gold project (the "Woodjam Project" or "Woodjam") in south-central BC (Figure 1).

HIGHLIGHTS
  • The Targets: Core drilling will evaluate the potential for: (1) extensions of high-grade gold mineralization at the Deerhorn deposit, (2) extensions of gold-rich copper mineralization at the Three Firs zone, and (3) extensions of higher gold mineralization at the Southeast deposit.
  • The Program: Approximately 3,600m of core drilling in 9 drill holes is planned, some of which will be on the contiguous Redgold property.

"With our financing freshly closed, I'm excited about the start of drilling at Woodjam," commented Craig Parry, Executive Chairman. "Strong copper prices are expected to continue over the long term and Vizsla Copper is executing on its strategy of acquiring undervalued copper assets and completing selective, high-impact exploration programs on our best targets."

Keep reading...Show less

Latest Press Releases

Related News

×