Base Metals

Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC PINK: OPWEF) is mobilizing a crew to undertake a Gold Grain In Till Sampling program on all its Newfoundland projects. The company's inaugural gold grain in till sampling program, an important step to determine the number of gold grains in the glacial till in order to help locate the potential source of gold on the properties, will take place on the Chapel Island, Density, Eclipse, Mass, and Lil d'Espoir Lake claims.

For more information, please view the InvestmentPitch Media "video" which provides additional information on the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Opawica" in the search box.


The shape of the gold grains provide insight as to how nearby the source may be. Typically, the higher the concentration of gold grains and the larger the till anomaly, the higher the potential for a gold deposit of potential economic significance. Previous work has identified areas where gold grains in till are associated with the Valentine Lake Shear Zone and the Red Indian Line shear zones which are projected to cross Opawica's claims.

The Opawica 100% owned project areas cover more than 217 square kilometres along and between the Red Indian Line and the Valentine Lake shear zone where the company's prospective holdings extend for more than 50 kilometres along the Central gold belt, a northeast-trending structural zone extending across Newfoundland.

Newfoundland has long been known to have many gold occurrences with relatively little modern exploration. Historical production from the Hope Brook, Nugget Pond and Point Rousse projects have been typical of the province's mines with relatively modest production from high-grade deposits. The largest known gold resource along this corridor occurs at Marathon Gold Corp.'s Valentine Lake property.

Blake Morgan, President and CEO, stated: "I am very pleased to be providing this update on our Newfoundland gold projects. We anticipate an extremely busy next few months for our Opawica exploration team and are excited to continue this momentum through to our drill campaign and beyond."

The company also has a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The company's three 100% owned Quebec properties are on the east-west trending Cadillac-Larder Lake Break zone.

The shares are currently trading at $0.40. For more information, please visit the company's website at www.opawica.com, contact Blake Morgan, President and CEO, at 604-681-3170 or by email at ir@opwaica.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95845

News Provided by Newsfile via QuoteMedia

Trilogy Metals Reports Third Quarter Fiscal 2022 Financial Results

Trilogy Metals Inc. (TSX: TMQ) (NYSE: TMQ) ("Trilogy Metals", "Trilogy" or "the Company") announces its financial results for the third quarter ended August 31 2022.  Details of the Company's financial results are contained in the interim unaudited consolidated financial statements and Management's Discussion and Analysis which will be available on the Company's website at www.trilogymetals.com on SEDAR at www.sedar.com and on EDGAR at www.sec.gov . All amounts are in United States dollars unless otherwise stated.

Highlights
  • Exploration field season completed for the Upper Kobuk Mineral Projects ("UKMP") with over 10,700 meters drilled.
  • Projects are well funded with Ambler Metals LLC, our 50/50 joint venture with South32 Limited, holding $93.5 million as at August 31, 2022 .
  • Trilogy cash position of $3.1 million and working capital of $2.9 million as at August 31, 2022 sufficient to fund head office operations for the next twelve months.
Joint Venture Project Activities

Field season activities at the Upper Kobuk Mineral Project ("UKMP") commenced in late May, with the camp opening on May 20 and drilling was completed on September 16.  The Bornite camp is expected to be fully shut down during the first week of October. The $26.2 million approved budget for Ambler Metals LLC for this year was mainly spent on the summer field program, which included 10,739 meters of diamond drilling that prioritized advancing the Arctic Project with additional infill drilling to further improve the confidence in the resource and the completion of a geotechnical study to further de-risk the Arctic Project. Exploration outside of the Arctic deposit focused on identifying copper-rich satellite deposits near Arctic in the Volcanic Massive Sulphide ("VMS") Belt and the Cosmos Hills.  The forecasted spend at Ambler Metals for the fiscal year is estimated to be approximately $28.5 million which is $2.3 million or 8.8% higher than budget.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

KIPLIN METALS Reports on Exploration Activities on the Cluff Lake Road Uranium Project, Saskatchewan

(TheNewswire)

Kiplin Metals Inc.

October 4 th 2022 TheNewswire - Kiplin Metals Inc. (TSXV:KIP) (the " Company " or " Kiplin ") announces completion of its exploration program on the Company's Cluff Lake Road (CLR) Uranium Project in northwestern Saskatchewan. The CLR Project covers ~531ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries, including the Arrow and Tripe R Uranium deposits have been made. The CLR Project is completely surrounded by Fission 3.0 Corp.'s high profile Paterson Lake North ("PLN") Project.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Turquoise Hill Announces Mailing of Management Information Circular to Consider the $43.00 per share Rio Tinto Transaction

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") is pleased to announce the mailing today to shareholders of Turquoise Hill of the Management Proxy Circular (the "Circular") and associated Form of Proxy and Letter of Transmittal (collectively, the "Meeting Materials") in connection with the arrangement pursuant to which, among other things, and subject to the satisfaction or waiver of all applicable conditions precedent, Rio Tinto International Holdings Limited ("Rio Tinto") will acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto does not currently own (the "Minority Shares") for C$43.00 per share in cash (the "Consideration") pursuant to a statutory plan of arrangement (the "Arrangement"), following the public filing thereof on September 29, 2022.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Cyprium Metals Ltd Nifty Copper Project Restart Update

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) provides an update on the status of the refurbishment of the Nifty Copper Project whilst the Company is progressing the finance process for the restart of the operation.

HIGHLIGHTS

- Cyprium has now increased the mineral resource endowment at Nifty Copper Project by over 40% and the west and east of the mineralisation remains open

- The updated mineral resource estimates will be included in Phase 1 of the Nifty Restart Project optimisation, which will add further copper tonnes, mine life and cashflow

- Environment and Regulatory Approvals process nearing completion whilst most of the operational readiness and environmental clean-up activities now completed

- Advanced discussions are continuing with debt financiers, who are undertaking due diligence activities and reviewing financing documentation

Managing Director Barry Cahill commented:

"The Nifty Copper Project is in a state of readiness so that at the completion of the finance process, there is an effective and efficient transition from care and maintenance to full construction and then commissioning to production.

The Nifty Copper Project restart is the first phase of a potential +20-year life and remains robust, with current Australian dollar copper pricing at a similar level to what was used in the Restart Study, which was completed in March 2022. The increase in resources and the reduction in base costs, such as freight, since the study was finalised will only improve that robustness.

We look forward to commencing construction post finance, then producing and shipping copper metal, not ore or concentrate, but LME Grade A copper metal cathode, in the north of Western Australia."

Current Status

The Nifty site has been secured and there are sufficient personnel on site to maintain the site to enable a quick transition to construction activities once finance is obtained. The personnel will ensure maintenance of statutory regulations and reporting requirements, and operational, mechanical and electrical integrity of the infrastructure, and continue to advance refurbishment activities with existing materials that are already on site.

Scrap retrieval activities are continuing, and the site team are sending equipment that is surplus to project requirements (such as underground equipment) back to Perth for sale and disposal. Sale of surplus and salvage equipment has already commenced.

Corporate and head office costs have been minimised by reducing staff and executive positions and the remainder are on a part time basis, who are focused on regulatory and reporting requirements, and advancing the Nifty restart finance process.

Nifty Copper Project Status

The acquisition transaction for the Paterson Copper Assets, including Nifty Copper Project (on care and maintenance), was completed at the end of March 2021.

Upon transaction completion, personnel and drill rigs were immediately mobilised to site to commence work for the compilation of the Nifty Restart Study (completed and released to the market on 11 March 2022) and to conduct environmental surveys to commence the approval process (the first approval was lodged 14 November 2021) for the restart of the Nifty copper project.

The progress made by Nifty employees to date has been exceptional, with significant progress towards being operationally ready. The workforce again is commended for their efforts and progress whilst the site has remaining on care and maintenance since its acquisition. This has also been achieved at Nifty over the past ~450 days (over 300,000 hours worked) without a Lost Time Injury.

Mineral Resource Estimate

The Nifty Copper Project at the time of acquisition had a reported mineral resource estimate of 658.5 kt of contained copper metal in resource (refer to CYM ASX release dated 10 February 2021, "Transformational Acquisition of Highly Attractive Copper Portfolio").

Cyprium hasreviewed the Nifty mineral resource estimate, completed the inclusion of previous drilling and combined the resources databases for the purposes of the open pit design. The review included the estimate of a single model with geo-metallurgical domains. The resultant mineral resource estimate was released on 17 November 2021, totalling 732.2 kt of contained copper in resource.

Cyprium completed drilling of over 18,000 metres of reverse circulation ("RC") into the west of the Nifty deposit. This resulted in a second review which returned a mineral resource estimate which was released on 16 May 2022 of 940.2 kt contained copper in resource, 84% of which classified in the measured and indicted category. The west area of mineralisation has still not been closed out with areas of the mineralised formations still having gaps which require drilling including a portion of inferred mineral resource.

Successful drilling of over 5,000 metres of RC drilling into the eastern portion of the mineralisation has been completed and is yet to be included in the latest mineral resource estimate. Currently this information is being compiled for inclusion in the resource. The eastern area is still open for further drilling.

Cyprium has now increased the mineral resource endowment at Nifty Copper Project by over 40% and the west and east of the orebody is not closed off.

Future work requires extensional drilling to both the west and the east, and an update to the mineral resource estimate which is expected to increase further.

As can be seen in Figure 1 below, the Nifty Copper Project is currently recognised as the 6th ranked development project1 in Australia by copper metal and the highest grade of the top 6 group. Due to JORC 2012 reporting restrictions that prevent the existing leach pads at Nifty from being included in the reported mineral resource estimates, a further estimated 17.16 Mt @ 0.53%Cu (~91Kt tonnes of copper metal) is contained within the existing heap leach pads for retreatment at Nifty (refer to CYM ASX release dated 11 March 2022, "Nifty Copper Project Restart Study").

The Cyprium Metals portfolio includes 4 of the 26 largest Australian primary copper resources, being the Nifty, Maroochydore, Nanadie Well and Hollandaire deposits (refer to OZ Minerals Limited (ASX:OZL), 26 August 2022, "Strategy, Aspirations & Province Potential Presentation"). Cyprium's total combined JORC 2012 mineral resource estimate has increased from nil at the end of 2019 to over 1.6mt of contained copper that is currently reported.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/Z394A1PD



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

News Provided by ABN Newswire via QuoteMedia

[subscribe_company_profile use_post="101691698"]

Keep reading...Show less

Northern Dynasty: Alaska and 13 Other States Strongly Oppose the EPA Proposed Veto of Pebble

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company" or "NDM") advises that a compelling letter was submitted to the Environmental Protection Agency ("EPA") by the State of Alaska, and a second letter signed by a total of 14 states, was submitted protesting against the EPA's overreach with the revised Proposed Determination of the Pebble Project in Southwest Alaska

The State of Alaska has submitted a strongly-worded letter to the EPA detailing its deep concerns about the EPA's actions, for reasons including:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
copper bars

5 Copper Market Trends for Investors to Watch

Copper prices have been volatile since the beginning of the year.

After surpassing the US$10,000 per metric ton mark in the first quarter, prices have been unable to return to that level, pressured by global economic uncertainty related to inflation and weak demand from China. But the long-term picture for copper, which has high electrical conductivity, is still bright — the green energy transition is expected to see demand for the base metal increase.

Keep reading...Show less

Latest Press Releases

Related News

×