Norfolk Metals (ASX:NFL) is an ASX-listed exploration company focused on its uranium in South Australia and Argentina. The company’s flagship property is the Orroroo uranium project in South Australia. It also holds a gold-copper project, the Roger River Property in Tasmania. Norfolk Metals is currently focused on advancing its uranium project and evaluating uranium assets for acquisition. In April 2024, the company announced it is acquiring the Las Altares uranium project in Argentina, through an exclusivity agreement with Green Shift Commodities.
Uranium prices have been on an upward trajectory since 2023, with prices rising from less than $50/lb to over $100/lb in 2024. The prices are currently hovering around $90/lb and could increase further, driven by a supply deficit. Kazatomprom, the world's largest uranium miner, announced in February 2024 that it is reducing uranium production. The company said production levels at its operations in Kazakhstan are anticipated to remain 20 percent lower, chiefly attributed to the sulfuric acid shortage prevailing in the country. Cameco, the world’s largest publicly traded uranium supplier, has provided a 2024 production guidance which is also not very bullish.
While the supply remains challenging, the demand continues to ramp up. The surge in uranium demand has been predominantly fueled by heightened utility contracting, a trend that offers robust support and sustainability to elevated price levels. The World Nuclear Association’s Nuclear Fuel Report indicates that global nuclear reactor demands are projected to almost double by 2040, rising from 65,650 tU in 2023 to 130,000 tU in 2040. According to Sprott, utilities have nearly 1.5 billion pounds of uncovered uranium requirements through 2040, compared to current annual production of around 150 Mlbs. Further, substantial underinvestment in new mining projects has exacerbated an already constrained supply side, leading to prolonged strain in the years ahead.
The uranium market appears to remain firmly in an uptrend driven by rising demand and constrained supply. Elevated prices also enhance the prospects for junior miners to progress their projects and potentially secure future supply agreements with utilities.
Norfolk Metals boasts uranium assets in a tier-1 mining jurisdiction of South Australia. The recent maiden drill program at the Orroroo project intersected a uranium-bearing floodplain, boosting confidence in the potential of the project.
Norfolk continues to review complementary projects with plans to expand its uranium project suite. In 2024, the company signed an exclusivity agreement with Green Shift Commodities (TSXV:GCOM) to acquire Las Alteras uranium project in Argentina. Las Alteras is surrounded by non-JORC foreign estimates at URAmerica’s Meseta Central deposit (19.1 Mlbs U308), CNEA’s Cerro Solo deposit (11.49 Mlbs U308), ISO Energy’s Laguna Salada deposit (10.1 Mlbs U308), along with the Cerro Condor and Los Adobes historical uranium mines.
The Orroroo uranium project consists of three exploration licenses - EL6552, EL6814, and EL6948 - spanning a total of 723 square kilometers, situated roughly 274 kilometers northwest of Adelaide, South Australia. The large land holding is divided into three project areas named Orroroo, Johnburgh and Black Rock.
Orroroo lies within the Walloway Basin, an underexplored uranium region characterized by sediments of similar age to those found in the nearby Frome Embayment, where Boss Energy’s Honeymoon project is located.
Norfolk Metals completed a two-phase drilling program at Orroroo Project (EL6552), identifying uranium in 10 of 17 holes with grades reaching as high as 796 parts per million (ppm). Phase 2 of the drill program also identified a uranium-bearing floodplain 50 meters south of the Wongway Creek Target. The confirmation of uranium-bearing floodplain deposits upstream of Wongway Creek has strengthened confidence in the paleochannel model. Crucial drill holes, including ORMR015A and ORMR017, have offered valuable insights into floodplain features and the identification of kaolinitic clay marker beds, crucial for unraveling the basin’s geological evolution.
Drill samples from ORMR015A showing the kaolonitic clay marker unit from 121-130 metres and floodplain silt from 130-137 metres.
ORMR015A intersected what seems to be a floodplain dominated by silt, with minor gravel and two elevated gamma anomalies indicating uranium at both the top and bottom of this unit. In ORMR017, there was a heightened gamma response at approximately 132 meters depth, aligning with the top of the floodplain identified in ORMR015A. This suggests that the paleochannel may be situated just meters away from the target. Additionally, the detection of a mustard-colored limonite-rich fluid in certain drilling locations suggests potential uranium sources.
The identification of paleochannels offers geologists precise targets for uranium exploration. By mapping geological characteristics and comprehending past river systems, exploration endeavors can be concentrated on regions with an increased probability of harboring uranium deposits.
The maiden drill program has further substantiated Orroroo as a potential emerging uranium district within the renowned Walloway Basin in South Australia. Norfolk is moving forward on the future planning and approvals for Orroroo with a focus on the uranium-bearing floodplains intersected near the Wongway Creek target.
In 2024, Norfolk will begin operations on exploration permit EL6814, which is adjacent to the north and south of EL6552. The initial activities on EL6814 will be planned based on the findings and analysis from the inaugural drilling program at EL6552.
The company remains optimistic about the potential of the Walloway Basin beyond EL6552 (Orroroo project), particularly in areas such as the northern region (Johnburgh Project) and the southern region (Black Rock Project), where significant portions have yet to undergo geophysical surveys or drilling operations.
Through an exclusivity agreement with Green Shift Commodities (GCOM) Norfolk has rights to 22 claims totaling 60,396 hectares comprising the Las Alteras uranium project to the west and east of the 11.49M lbs (Reasonably Assured Resource) Cerro Solo uranium deposit.
Las Alteras is surrounded by UrAmerica’s Meseta Central deposit (19.1 Mlbs eU308), CNEA’s Cerre Solo deposit (11.49M lbs U308), and ISO Energy’s Laguna Salada deposit (10.1 Mlbs U308). The project is also close to two historical mines, Cerro Condor and Los Adobes.
Norfolk plans to complete a due diligence on the project and pursue completion of the acquisition of the property from Green Shift Commodities.
The Roger River Project comprises two granted exploration licenses encompassing a total area of 261 square kilometres. Positioned 410 kilometres northwest of Hobart, Tasmania, the project is deemed prospective for gold and copper.
During 2023, Norfolk continued its exploration program to obtain a better understanding of the copper and gold mineralization to guide the next exploration phase and potential drilling. The exploration work included a soil sampling program. The soil program entailed the collection of new surface samples and the re-analyses of selected historical soil samples over the White Water and A2 prospects which were submitted for Cu analysis.
Fresh surface samples were gathered on a grid measuring 200 by 100 meters around A2, totaling 98 samples. This sampling covered an area of roughly 1.2 kilometers by 1.5 kilometers along the interpreted splay from the Roger River Fault. The findings reveal a persistent copper anomaly surrounding the A4 and A5 prospects, situated along the interpreted fault splay originating from the Roger River Fault.
The historical samples re-analyzed revealed a continuous copper anomaly around the A4 and A5 prospects located along the interpreted fault splay from the Roger River Fault.
Ben Phillips brings over 15 years of experience in commercial negotiations across diverse industries, including oil and gas, resources, medical technology, software-as-a-service and defense. He guides departments spanning from R&D and exploration to production, commercialization, and sales. Previously, Phillips served as a non-executive director at Bronson Group (ASX:BGR) and later at Mandrake Resources (ASX:MAN). In his current role as a corporate executive at Ironside, he focuses on sourcing, structuring, funding and managing requirements for small-cap companies, both private and public. Phillips has been with Ironside Capital since its inception, previously serving at Merchant Corporate Finance.
Leo Pilapil has over 30 years of experience as a geoscientist. Throughout his career, he has held director positions at numerous junior companies across Australia, Africa and Turkey. In these roles, he has been primarily responsible for technical project evaluations, project acquisitions, project management and business development. Pilapil's notable achievements include the discovery of the Harlequin Gold Deposit (1 Moz) under salt lake conditions in Norseman, Western Australia. Additionally, he has played a key role in the extension and discovery of several ore deposits in Australia, Africa and Turkey. Pilapil has served as a geological consultant for numerous companies across the globe, including Aditya Birla in Australia, Alacer Gold Corporation in Turkey, African Uranium in Namibia, and NIKKI Lao in Lao PDR.
ASX-listed uranium explorer
Effective immediately, Green River Gold Corp. is suspended pursuant to CSE Policy 3. The suspension is considered a Regulatory Halt as defined in National Instrument 23-101 Trading Rules. A cease trade order has been issued by the Alberta Securities Commissions.
For more information about Cease Trade Orders, visit the Canadian Securities Administrators Cease Trade Order database at www.securities-administrators.ca.
_________________________________
Les activités de Green River Gold Corp. sont suspendues immédiatement, conformément à la politique 3 de la CSE. Cette suspension est considérée comme une suspension réglementaire au sens du Règlement 23-101 sur les règles de négociation. Une ordonnance d'interdiction d'opérations a été émise par la Commission des valeurs mobilières de l'Alberta.
Pour de plus amples renseignements sur les interdictions d'opérations, visitez la base de données des interdictions d'opérations des Autorités canadiennes en valeurs mobilières à l'adresse www.securities-administrators.ca.
| Date : | Le 1 avril/April 2025 |
| Symbol/Symbole : | CCR |
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Vancouver, British Columbia TheNewswire - April 1, 2025 - Leocor Mining Inc. (the " Company " or " Leocor ") (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO0) (formerly Leocor Gold Inc.), a junior resource company focused on the exploration and development of precious metals  projects in Eastern Canada, is pleased to provide an update on its capital investment in Intrepid Metals (TSX.V: INTR).
In early 2024, the Company announced the completion (see Company news release dated January 8, 2024) of a CDN $3M strategic investment in Intrepid for the purpose of advancing Intrepid's copper and gold projects in Arizona, specifically the Corral Copper project ("the Project" or "Corral").
On May 1, 2024, Intrepid announced initial drill results at Corral, located in Cochise County, Arizona. Â The results were impressive, with highlight near surface intercepts of 1 05.20 meters of 1.17% Copper (1.42% CUEQ) and 48.85 meters of 2.24% Copper (2.58% CUEQ). Â On May 14, 2025, Intrepid released additional results for a further five drill holes with a highlight intersection of 72.20 meters of 1.28% Copper within 198.00 meters of 0.68% CUEQ.
On July 9, 2024, further impressive drill results were released from Corral, including 112.95 meters of 1.50% Copper, 0.53 grams per ton Gold and 8.22 gpt Silver (1.66% Copper Equivalent ("CuEq"))Â in Hole CC24_023 which included 63.40m of 2.57% Cu, 0.91 gpt Au and 14.14 gpt Ag (2.83% CuEq).
Leocor's initial investment resulted in the acquisition of 6,600,00 units of Intrepid at $0.34 per unit and 2,223.529 Special Warrants at $0.45. Leocor currently holds 8,823,529 shares of Intrepid with an approximate value of CDN $4.2M. In addition, the Company holds an additional 8,823,529 warrants exercisable at $0.45 until January 5, 2026. On a partially diluted basis Leocor's ownership stake in Intrepid is approximately 26%.
"Corral is a world class copper project, and we're very pleased with the results to date," said Leocor CEO, Alex Klenman. Â "Leocor would also like to congratulate Intrepid on yesterday's announcement of the closing of an oversubscribed $5 million dollar financing. We look forward to the next round of drilling and are excited to watch the company's continued development under the leadership and direction of their strong management and technical teams," continued Mr. Klenman.
The technical information contained in this news release was reported in news releases issued by Intrepid Metals and was prepared and approved by Daniel MacNeil, PGeo. Mr. MacNeil is a Technical Advisor to Intrepid Metals and is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Leocor Mining Inc. (Formerly Leocor Gold Inc.)
Leocor Mining Inc. is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District. Leocor's Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor. The Company also controls district scale land packages in North Central Newfoundland, known as Robert's Arm, Hodge's Hill, and Leamington, (collectively "Western Exploits") representing over 144,000 hectares (1,440 square kilometers) of prospective exploration ground. For more information, sign up for news alerts , watch our corporate video , or view our presentation at our website .
Contact Information
Leocor Mining Inc.
Alex Klenman, Chief Executive Officer
Email : aklenman@leocorgold.com
Telephone : (604) 970-4330
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release .
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Option. Although Leocor believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is 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. Leocor cautions investors that any forward-looking information provided by Leocor is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the agreement of the parties to proceed with the proposed transaction on the terms set out in the Option Agreements or at all; Leocor's ability to exercise the Options; the state of the financial markets for Leocor's securities; the state of the natural resources sector in the event the Option, or any of them, are completed; recent market volatility; circumstances related to COVID-19; Leocor's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that Leocor is unaware of at this time. The reader is referred to Leocor's initial public offering prospectus for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through Leocor's issuer page on SEDAR at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date of this press release. Leocor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce that the spin-out of its subsidiary, Blue Jay Gold Corp. ("Blue Jay"), has been approved by shareholders and is now moving forward, with completion potentially expected in May or June of this year. This news follows the plan and actions announced in the Company's press release dated February 28, 2025, at its annual and special meeting of shareholders held on March 31, 2025 (the "Meeting"), shareholders approved the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) (the "BCBCA") involving the spin-out of its equity interest in its subsidiary, Blue Jay Gold Corp.
The Arrangement was approved by over 99% of votes cast by shareholders of Riverside (the "Riverside Shareholders") at the Meeting. Upon completion of the Arrangement, Riverside Shareholders will receive 1/5 of a Blue Jay common share (the "Blue Jay Shares") for each common share of Riverside held, resulting in shareholders owning shares in two public companies:
"We are very pleased with the strong shareholder support for the spin-out of Blue Jay, which reflects the confidence in Riverside's strategy to unlock value through focused project generation and royalties," said John-Mark Staude, President and CEO of Riverside. "This transaction enables both companies to sharpen their strategic priorities, and we're excited to see Blue Jay carry forward the Ontario gold assets while Riverside continues to advance its copper, gold, and critical metals portfolio in the Americas."
"We're thrilled to launch Blue Jay as a fresh, compelling gold exploration business in one of Canada's most proven and mining-friendly jurisdictions," added Geordie Mark, President and CEO of Blue Jay. "Our flagship projects are located in northwestern Ontario, a region that has been producing gold for decades and is home to established infrastructure and major operating gold mines; both past and present. With strong community support, a clean share structure, and a highly prospective land package near active production, Blue Jay offers investors early exposure to a focused exploration company with significant discovery potential."
John-Mark Staude, CEO of Riverside Resources, and Geordie Mark, CEO of Blue Jay Gold, would like to express their appreciation to shareholders for their support of the spin-out. Click this video LINK where both executives share their enthusiasm for the road ahead and reaffirm their commitment to driving value for shareholders through focused execution and exploration.
All other matters presented to shareholders at the Meeting were also approved, including the receipt of the audited financial statements for the fiscal year ended September 30, 2024, setting the number of directors at five, the election of John-Mark Staude, James Clare, Walter Henry, James Ladner and Bryan Wilson to its board of directors for the ensuing year, the re-appointment of Davidson & Company LLP as auditor and authorization for the directors to fix the auditor's remuneration, and the re-approval of Riverside's rolling stock option plan. The special resolution approving the Arrangement pursuant to Section 288 of the BCBCA was virtually unanimously approved by 99.992% of the votes cast by Riverside Shareholders present in person or represented by proxy at the Meeting.
Subject to final court approval and satisfaction of customary closing conditions, including conditional listing approval by the TSX Venture Exchange (the "TSXV") for the Blue Jay Shares, the transaction is expected to be completed in Q2 2025.
Riverside believes that the Arrangement will enhance shareholder value by allowing both Riverside and Blue Jay to pursue focused strategies aligned with their respective assets. Following the transaction, Blue Jay will have its own dedicated management team and capital structure to accelerate exploration of the Ontario properties, while Riverside will continue to advance its portfolio of gold, copper, and rare earth projects through partnerships and royalties.
The Blue Jay Shares are expected to be listed on the TSXV following completion of the Arrangement. Additional details about the Arrangement are included in the Company's management information circular dated February 18, 2025, available on Riverside's SEDAR+ profile at www.sedarplus.ca and on the Company's website at www.rivres.com.
About Riverside Resources Inc.
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company's website at www.rivres.com.
ON BEHALF OF Riverside Resources Inc.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO | Eric Negraeff Investor Relations Riverside Resources Inc. |
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Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246840
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1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB; OTCBB: AUMBF; FRA: 2KY) is pleased to announce the assay results from eight (8) drill holes for 1,672.0Â metres ("m") from the ongoing surface drill program at the recently discovered San Antonio Southeast target at the True North Project. The True North project, including a permitted mill, camp, and tailings facility, is centrally located on the Company's 100%-owned Rice Lake Gold property in southeast Manitoba, Canada .
Highlights:
San Antonio Southeast Target
Shaun Heinrichs , CEO and President, stated, "These latest results confirm the discovery of the SAM Southeast target as a parallel ore shoot similar to the San Antonio Mine vein system with the potential to have the same down-dip extension. These parallel systems are exactly what our geology team, under Michele Della Libera's leadership, are targeting – a repetition of mineralization, starting on surface and extending to depth, as a result of multiple east-west shear veins intersecting with the favourable host rocks identified at the True North project. The historical discovery of the Hinge, Cohiba, and 007 mines show the potential for a number of additional stacked systems, with our current drill program designed to test a number of new targets with similar significant potential."
1911 Gold has now completed thirty-one (31) surface drill holes, for a total of 7,216.4 m . The current drill program commenced in October 2024 and remains ongoing with new targets being generated and drill tested within prospective host rock, and structural settings, including significant historical results. The program is ongoing and planned to include up to 30,000Â m of drilling by the end of 2025.
San Antonio Southeast target: Discussion of Results
Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 500 m southeast of the historically mined San Antonio zone, covering an area 400 m long and over 550 m to depth. Twenty-one (21) drill holes for a total of 4,894.40 m have been completed to date on the SAM SE target area. Three drill holes were abandoned without reaching target depth due to ground conditions.
The latest drill holes extended the footprint of mineralization another 200 m to the southeast. The drilling completed to date on the SAM SE target confirmed the presence of a vein system parallel to the San Antonio Mine ore body, which has the same geological, alteration and mineralization characteristics. The high-grade gold intercepts in the drill holes released are also enhancing our confidence to define higher grade zones within the target area both along strike and down plunge. Further data interpretation will support the planning refinement for the next phase of exploration drilling, which will be focused on deeper drilling to properly define the potential extension of the zone. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and up to 2% pyrite disseminated and in veinlets developed in association with northeast and northwest trending sub-vertical shear zones.
Table 1: Select Significant Drill Hole Assay Results
Target Area (name) | Drill Hole (number) | From | To | Interval (m) | Au (g/t) |
SAM Southeast | TN-25-019 | 253.00 | 253.50 | 0.50 | 13.20 |
SAM Southeast | TN-25-027 | 27.90 | 28.60 | 0.70 | 18.80 |
SAM Southeast | TN-25-028 | 46.90 | 51.30 | 4.40 | 3.12 |
Including | 46.90 | 49.60 | 2.70 | 4.20 | |
and | 48.80 | 49.60 | 0.80 | 8.36 | |
SAM Southeast | TN-25-030 | 154.30 | 155.30 | 1.00 | 3.53 |
162.40 | 166.10 | 3.70 | 3.27 | ||
Including | 162.40 | 164.30 | 1.90 | 3.79 | |
and | 165.30 | 166.10 | 0.80 | 8.78 | |
179.00 | 180.00 | 1.00 | 3.16 | ||
SAM Southeast | TN-25-033A | 94.00 | 95.80 | 1.80 | 7.71 |
102.00 | 105.10 | 3.10 | 7.05 | ||
Including | 102.00 | 103.20 | 1.20 | 16.50 | |
119.60 | 125.60 | 6.00 | 5.34 | ||
Including | 121.50 | 122.70 | 1.20 | 7.32 | |
and | 123.70 | 124.80 | 1.10 | 8.58 | |
SAM Southeast | TN-25-034 | 99.00 | 101.10 | 2.10 | 7.13 |
Including | 99.00 | 100.00 | 1.00 | 12.80 | |
136.50 | 140.70 | 4.20 | 2.49 | ||
Including | 139.70 | 140.50 | 1.00 | 7.67 | |
145.00 | 147.70 | 2.70 | 14.97 | ||
Including | 145.00 | 145.50 | 0.50 | 71.60 |
1) | Intercepts above a cut-off grade of 2.25 g/t Au |
2) | Maximum of 2.50 m internal dilution and no top capping applied |
3) | Intervals represent drill core length and are considered to represent 60% to 90% of true widths |
4) | Full Significant Assay Results included in Table 2 |
5) | Drill hole Information included in Table 3 |
San Antonio Southeast Target
The San Antonio Southeast target is located approximately 350m southeast of the historically mined San Antonio zone of the True North Gold Mine. The San Antonio Southeast target occurs within the gabbro of the San Antonio mafic unit and the intersection with the L-10 shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au. The SAM SE target also hosts the 710-711 vein system at depth, which contains a mineral resource of 198,000 oz Au @ 5.21 g/t Au indicated and 118,000 oz Au @ 3.91 g/t Au ( see press release dated November 20, 2024 , "1911 Gold Announces Mineral Resource Estimate Update for the True North Gold Project" ) located on the "26 Level" of the True North underground mine at a depth approximately 1,000 m down-dip of the current drilling. The L-10 shear zone also hosts a gold mineralized vein system within the parallel Shoreline Basalt unit containing 58,000 oz Au @ 4.99 g/t Au indicated and 61,000 oz @ 3.96 g/t Au inferred resources (See Figure 2).
Next Steps
With the continued intersection of good gold mineralization in step-out drilling of near surface targets at the True North Gold Mine complex in the San Antonio West, Hinge East and San Antonio Southeast target areas, 1911 Gold is continuing to test new targets as well as expand the footprint of the newly discovered zones. The program's ongoing success has expanded the current drill program to comprise over 30,000Â m of drilling. Two drill rigs have been operating on the property to test the open extensions at San Antonio West and San Antonio Southeast as well as other new targets.
Table 3: True North; Drill Hole Details
Drill Hole (Number) | `Target (Name) | Northing*         (m) | Easting*  (m) | Elevation            (masl) | Azimuth (°) | Inclination (°) | Depth (m) | |
TN-25-018 | SAM-Southeast | 5655444 | 312790 | 252 | 175 | -45 | 269.0 | |
TN-25-019 | SAM-Southeast | 5655444 | 312790 | 252 | 156 | -45 | 323.0 | |
TN-25-020 | SAM Southeast | 5655311 | 312609 | 251 | 156 | -49 | 131.0 | |
TN-25-027 | SAM Southeast | 5655325 | 312562 | 290 | 113 | -53 | 128.0 | |
TN-25-028 | SAM Southeast | 5655416 | 312542 | 258 | 164 | -58 | 155.0 | |
TN-25-030 | SAM Southeast | 5655470 | 312610 | 256 | 163 | -47 | 230.0 | |
TN-25-031 | SAM Southeast | 5655470 | 312610 | 256 | 155 | -62 | 242.0 | |
TN-25-033A | SAM Southeast | 5655466 | 312612 | 256 | 185 | -45 | 194.0 | |
* | Coordinates are provided in UTM NAD83 Zone 15 |
Qualified Person Statement
The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera , P.Geo, Vice-President Exploration of 1911 Gold, who is a "Qualified Person" as defined under NI 43-101.
Table 2: True North; Significant Drill Hole Assays
Target Area (name) | Drill Hole (number) | From | To | Interval (m) | Au (g/t) |
SAM Southeast | TN-25-019 | 253.00 | 253.50 | 0.50 | 13.20 |
SAM Southeast | TN-25-020 | 60.10 | 60.80 | 0.70 | 2.37 |
SAM Southeast | TN-25-027 | 27.90 | 28.60 | 0.70 | 18.80 |
SAM Southeast | TN-25-028 | 46.90 | 51.30 | 4.40 | 3.12 |
Including | 46.90 | 49.60 | 2.70 | 4.20 | |
and | 48.80 | 49.60 | 0.80 | 8.36 | |
SAM Southeast | TN-25-030 | 152.20 | 153.30 | 1.10 | 1.15 |
154.30 | 155.30 | 1.00 | 3.53 | ||
154.30 | 155.30 | 1.00 | 3.53 | ||
162.40 | 166.10 | 3.70 | 3.27 | ||
Including | 162.40 | 164.30 | 1.90 | 3.79 | |
and | 165.30 | 166.10 | 0.80 | 8.78 | |
179.00 | 180.00 | 1.00 | 3.16 | ||
SAM Southeast | TN-25-031 | 138.80 | 141.50 | 2.70 | 1.11 |
182.20 | 183.20 | 1.00 | 1.03 | ||
SAM Southeast | TN-25-033A | 94.00 | 95.80 | 1.80 | 7.71 |
102.00 | 105.10 | 3.10 | 7.05 | ||
Including | 102.00 | 103.20 | 1.20 | 16.50 | |
107.00 | 108.50 | 1.50 | 1.81 | ||
111.50 | 113.00 | 1.50 | 0.93 | ||
117.50 | 119.00 | 1.50 | 0.80 | ||
119.60 | 125.60 | 6.00 | 5.34 | ||
Including | 121.50 | 122.70 | 1.20 | 7.32 | |
and | 123.70 | 124.80 | 1.10 | 8.58 | |
179.30 | 180.50 | 1.20 | 1.57 | ||
SAM Southeast | TN-25-034 | 82.40 | 84.10 | 1.70 | 1.18 |
99.00 | 101.10 | 2.10 | 7.13 | ||
Including | 99.00 | 100.00 | 1.00 | 12.80 | |
101.90 | 102.40 | 0.50 | 1.83 | ||
105.00 | 105.70 | 0.70 | 1.58 | ||
132.20 | 133.60 | 1.40 | 2.25 | ||
136.50 | 142.30 | 5.80 | 2.20 | ||
Including | 136.50 | 140.70 | 4.20 | 2.49 | |
Including | 139.70 | 140.70 | 1.00 | 7.67 | |
145.00 | 147.70 | 2.70 | 14.97 | ||
Including | 145.00 | 145.50 | 0.50 | 71.60 |
Quality Assurance/Quality Controls (QA/QC)
Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values greater or equal to 5.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada .
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .
1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Shaun Heinrichs
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
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.
SOURCE 1911 Gold Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/01/c4627.html
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Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF) announces that it has appointed Eric H. Hinton, P.Eng., FCIM, to the Advisory Board.
Eric H. Hinton, P.Eng., FCIM, has degrees from Haileybury School of Mines, Queen's University and Laurentian University and is a registered professional engineer in Ontario and Manitoba. Eric is a Fellow of the Canadian Institute of Mining, Metallurgy and Petroleum and is also designated as a Qualified Person in underground mining from the Mining and Metallurgical Society of America in addition to a qualified person for National Instrument 43-101. Eric's experience in small scale mining operations (from 50 to 500 tonnes per day) led him to acquire Basic Minerals SAC in Peru to launch the Mercedes Project which will become a 25000 tonne per annum polymetallic producer. His expertise will enable Rio Silver to engage in projects similar to Mercedes such as the recently acquired Maria Norte project, also in Peru, in order to potentially realize positive cashflow in the short term.
Mr. Hinton's assistance managing the development of the recently acquired Maria Norte high-grade polymetallic silver, exploitation / exploitation property will bolster the company's mandate for future sustainability.
The Company also announces that Christopher Hopton has joined the Board of Directors. Mr. Hopton presently serves as the Company's CFO since 2019 and is a seasoned financial management professional with 25 years of experience leading the financial operations of resource and biotech companies across Canada and South America. His expertise spans financial planning, accounting policy, and business process optimization. As a trusted consultant in business investment and finance, Mr. Hopton has supported numerous public and private companies in their growth and operational efficiency.
Currently Mr. Hopton is serving as Chief Financial Officer at Rio Silver Inc. He previously held the role of CFO at Central Resources Corp., a junior mineral exploration company. Mr. Hopton also played a key role in the successful restructuring of 360 Networks, a network communications firm, culminating in a strategic buyout by Bell Canada.
Mr. Hopton holds a Bachelor of Business Administration degree and is a Certified Professional Accountant (CPA).
In addition, the Company announces the resignation of Edward J Badida from the Board of Directors. The Board would like to thank Mr. Badida for his many contributions on behalf of the Company's shareholders over his tenure with the Company. Edward has served as CFO as well as his long-standing Board Directorship. Ed's vast CFA experiences as a financial pilot for Junior Resource companies aided Rio Silver in its strategies at its many projects in Canada and Peru. We owe Ed our gratitude for his loyal and professional outlook protecting shareholder value. The Board has greatly valued Ed's positive demeanor and sense of humor in our gatherings.
Company President Chris Verrico stated, "We are overjoyed and feel privileged with the high caliber of experience and insight Eric Hinton brings to the table. Having a lifetime of engineering robust and modern solutions for the underground mining industry Eric will bolster the company's drive towards profitability.
We also are very pleased to have Chris Hopton step up to the Board Level and continue to provide and apply his astute guidance and perspective knowledge as we navigate through a period of both challenging times and tremendous opportunity. Both these gentlemen are team players contributing to the generation of both shareholder and stakeholder value through hard work and discipline. These are truly exciting times."
We also want to take this opportunity to extend our heartfelt thanks to Ed Badida for his many years of guidance and insight and wish him only the very best for his long-deserved retirement away from the day-to-day issues of operating a junior mining enterprise.
ON BEHALF THE BOARD OF DIRECTORS OF Rio Silver INC.
For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com
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Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce that shareholders voted to approve all items of business put forth to shareholders at the Company's Annual General and Special Meeting ("AGSM") held on March 28, 2025, including the election of directors, fixing the number of directors, appointment of the Company's auditor, approval of the equity incentive plan, and the continuation of the Company under the British Columbia Business Corporations Act.
The board of directors and the Company would like to thank Mr. Bayona, who did not run for re-election, for his service to the Company and would like to wish him well in his future endeavors.
Additionally, at the AGSM, Sebastian Wahl was elected as new independent director of the Company. Sebastian Wahl brings over 15 years of experience in the mining industry, specializing in precious metals trading and corporate development. As a co-founder and former Vice President of Corporate Development at Silver X Mining Corp., he played a pivotal role in consolidating assets and advancing projects in South America. Mr. Wahl holds a B.Sc. in Business Administration from the Graduate School of Business Administration in Zurich and a Financial Modelling certification from the Corporate Finance Institute. Fluent in Spanish, he possesses extensive expertise in South American mining operations and capital markets.
Mr. Alexandre P. Boivin, President & CEO stated, "We are excited to bring Sebastian on as an independent board member. His strong experience in South America and European connections will complement the Company as we strive to become an established player in the Colombian mining exploration space."
About Quimbaya
Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.
Contact Information
Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com
Jason Frame, Manager of Communications jason.frame@quimbayagold.com
Quimbaya Gold Inc.
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Cautionary Statements
Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Although Quimbaya's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
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