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Drilling Confirms Gold Discovery and Significant Progress at Caber Complex
Nuvau Minerals Inc. (TSXV: NMC) is sharing positive results and significant progress at its Matagami Project in today's comprehensive exploration update.
Nuvau Minerals (TSXV:NMC) revitalizes critical mineral production in Quebec with its flagship project, the Matagami Mining Camp, which represents a premier opportunity in the Abitibi Greenstone Belt.
Quebec's Abitibi Greenstone Belt is renowned for its high-grade deposits and significant production history and is recognized as a Tier 1 jurisdiction with exceptional mining infrastructure and skilled labor. Nuvau Minerals has an agreement to acquire the Matagami Mining Camp from Glencore. The camp has a rich mining history with 60 years of production and nearly 60 million tons mined across 12 past mines.
Aerial view of the Matagami Mining CampThe Matagami Mining Camp covers over 1,300 square kilometers, comprising more than 2,500 claims. The property offers exceptional exploration potential for critical minerals, particularly zinc and copper. The Matagami Mining Camp has produced nearly 60 million tons of ore over 60 years of continuous operation.
The property features a 3,000-ton-per-day concentrator, last operated by Glencore in 2022. This infrastructure not only reduces the capital requirements for reactivation but also accelerates the timeline for potential production. Extensive geological and operational data inherited from Glencore provides a strong foundation for efficient exploration and development.
Company Highlights
- Nuvau Minerals has an agreement to acquire the Matagami Mining Camp from Glencore, a historic mining camp with 60 years of production history and nearly 60 million tons mined across 12 past mines.
- The flagship Matagami Mining Camp spans more than 1,300 square kilometers with more than 2,500 claims in Quebec’s Abitibi Greenstone Belt. The project includes a 3,000-ton-per-day concentrator operated by Glencore until June 2022.
- Nuvau has invested nearly $30 million since early 2022 in a three-year exploration program to discover critical minerals, primarily zinc and copper, leveraging highly prospective targets across the property.
- The company aims to re-establish the Matagami Mining Camp as a leading critical minerals producer by leveraging historical data, robust infrastructure, and modern exploration techniques.
- Quebec's Abitibi Greenstone Belt is globally recognized as a Tier 1 jurisdiction with exceptional mining infrastructure and skilled labor.
- Approximately $25 million has already been invested in the property, with the earn-in phase with Glencore expected to be completed by 2025.
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Nuvau Minerals
Investor Insight
Nuvau Minerals offers a compelling investment opportunity with an aggressive strategy to revitalize a prolific, past-producing mining camp in Quebec, a globally recognized Tier 1 jurisdiction.
Overview
Nuvau Minerals (TSXV:NMC) is a Canadian metals exploration company focused on revitalizing critical mineral production in Quebec. The company’s flagship project, the Matagami Mining Camp, represents a premier opportunity in the Abitibi Greenstone Belt, which is renowned for its high-grade deposits and significant production history.
Quebec's Abitibi Greenstone Belt is globally recognized as a Tier 1 jurisdiction with exceptional mining infrastructure and skilled labor. Nuvau Minerals has an agreement to acquire the Matagami Mining Camp from Glencore. The camp has a rich mining history with 60 years of production and nearly 60 million tons mined across 12 past mines.
The Matagami Camp spans over 2,500 claims across 1,300 square kilometers. Its strategic location, combined with existing infrastructure, like a 3,000-ton-per-day concentrator, positions Nuvau for cost-efficient reactivation and exploration. The company’s exploration efforts will focus on critical minerals, mainly zinc and copper, to address the growing global demand for these essential resources.
Nuvau Minerals is led by a team of seasoned professionals with extensive experience in the mining industry.
Company Highlights
- Nuvau Minerals has an agreement to acquire the Matagami Mining Camp from Glencore, a historic mining camp with 60 years of production history and nearly 60 million tons mined across 12 past mines.
- The flagship Matagami Mining Camp spans more than 1,300 square kilometers with more than 2,500 claims in Quebec’s Abitibi Greenstone Belt. The project includes a 3,000-ton-per-day concentrator operated by Glencore until June 2022.
- Nuvau has invested nearly $30 million since early 2022 in a three-year exploration program to discover critical minerals, primarily zinc and copper, leveraging highly prospective targets across the property.
- The company aims to re-establish the Matagami Mining Camp as a leading critical minerals producer by leveraging historical data, robust infrastructure, and modern exploration techniques.
- Quebec's Abitibi Greenstone Belt is globally recognized as a Tier 1 jurisdiction with exceptional mining infrastructure and skilled labor.
- Approximately $25 million has already been invested in the property, with the earn-in phase with Glencore expected to be completed by 2025.
Key Asset
Matagami Mining Camp (Flagship)
Aerial view of the Matagami Mining Camp
The Matagami Mining Camp is Nuvau Minerals’ cornerstone asset and a critical part of the company’s strategy to revitalize mining operations in Quebec’s Abitibi Greenstone Belt. Covering over 1,300 square kilometers and encompassing more than 2,500 claims, the property offers exceptional exploration potential for critical minerals, particularly zinc and copper. Historically, the Matagami Mining Camp has produced nearly 60 million tons of ore over 60 years of continuous operation.
The property features a 3,000-ton-per-day concentrator, last operated by Glencore in 2022. This infrastructure not only reduces the capital requirements for reactivation but also accelerates the timeline for potential production. Extensive geological and operational data inherited from Glencore provides a strong foundation for efficient exploration and development.
Nuvau’s exploration efforts include leveraging advanced geophysical surveys, including MobileMT and drone magnetic surveys, to map conductive anomalies indicative of potential massive sulfide mineralization. Geological mapping, surface sampling and 3D structural modeling have been initiated to delineate priority zones. A robust drilling campaign is planned at the Caber, Caber Nord and PD1 deposits to validate historical data, upgrade resources, and identify new mineralization. Additionally, metallurgical studies and geochemical analysis will be conducted to optimize resource evaluation and processing methodologies.
MobileMT surveys have identified high conductivity anomalies, indicative of potential massive sulfide mineralization, while drone magnetic surveys have refined structural interpretations critical for drill planning. Initial results from drilling programs on some of these targets, confirm the presence of zinc-rich massive sulfides.
Nuvau Minerals has outlined an ambitious exploration and development strategy to maximize the potential of the Matagami Camp. Future work will include the expansion of the ongoing drilling program to test high-priority targets identified. The drilling campaign will incorporate advanced downhole geophysics to refine drill targeting.
Detailed metallurgical testing and ore characterization studies will be conducted to enhance processing efficiency and recoveries for zinc and copper concentrates. Environmental baseline studies will be expanded to support future permitting requirements, ensuring compliance with Quebec’s regulatory standards.
Additionally, modern data integration techniques, such as machine learning applied to geochemical and geophysical datasets, will aid in refining exploration targets across the broader property. These efforts will be supported by ongoing community engagement initiatives to secure stakeholder support and address social and environmental considerations.
Management Team
Christina McCarthy – Chair of the Board
Christina McCarthy is a geologist with over 15 years of experience in the resource capital markets. She is the former president and CEO of Paycore Minerals, which was acquired by i-80 Gold Corp for a $90 million valuation. Previously, she was vice-president of corporate development for New Oroperu Resources, acquired by Anacortes Mining in 2021. McCarthy also served as director of corporate development for McEwen Mining from 2014 to 2019. She has held various management and board roles, including positions in equity research at Euro Pacific and institutional sales at Haywood Securities. Prior to entering the resource capital markets, she managed exploration programs in Scandinavia for a junior exploration company. McCarthy holds a Bachelor of Science in geology.
Peter van Alphen – President, CEO and Director
Peter van Alphen has over 25 years of experience in leadership roles within the mining industry, encompassing all aspects from construction projects to production. Most recently, he served as the chief operating officer at Premier Gold Mines, managing the company’s mining and development endeavors. Prior roles include country manager for Canada at Pan American Silver, vice-president of operations at Tahoe Resources and Lake Shore Gold, and various management positions at FNX Mining in Sudbury, Ontario. Van Alphen holds a Bachelor of Science in mining engineering from the University of the Witwatersrand.
Steve Filipovic – Chief Financial Officer
Steve Filipovic is a chartered professional accountant with more than 23 years of financial management and oversight experience. He was a founding executive team member and chief financial officer at Premier Gold Mines, playing an integral role in transitioning the company from explorer to producer until its acquisition by Equinox Gold in 2021. Prior to that, he served as chief financial officer of Zinifex Canada and was vice-president, finance of Wolfden Resources, until its acquisition by Zinifex in 2007. Filipovic holds an Honours Bachelor of Commerce Degree from Lakehead University and is an ICD.D designated member of the Institute of Corporate Directors.
Gilles Roy – Director of Exploration
Gilles Roy is a highly skilled geologist with over 30 years of experience in mineral exploration across various countries, including Canada, Peru, Chile, Kazakhstan, Australia and Burkina Faso. Specializing in base metal deposits in volcanic host rocks, he spent much of his career at Glencore, leading exploration programs that resulted in the discovery of the McLeod deposit in 2004 and the Bracemac deposit in 2006. Roy holds a Bachelor of Science in geology from Université du Québec à Montréal and is a member of the Ordre des géologues du Québec.
Ewan Downie – Director
Ewan Downie is a successful company builder and entrepreneur with over 25 years of experience in the mining industry. He currently serves as the chief executive officer of i-80 Gold. Previously, he was the president and CEO of Premier Gold Mines, and is now serving as non-executive chairman and director of Wolfden Resources, as well as a director of Clean Air Metals. Throughout his career, Downie has been part of several gold and base metal discoveries, earning recognition for his achievements, including being awarded the 2003 Prospectors and Developers Association of Canada’s “Bill Dennis Prospector of The Year.”
Michael Vitton – Director
Michael Vitton served as the executive managing director and head of US equity at BMO Capital Markets, where he was instrumental in originating and executing over US$200 billion worth of public and secondary offerings and M&A transactions across all sectors. In the metals and mining sector, he has been involved in numerous significant deals as a seed investor, lead/co-lead underwriter, or in an M&A capacity. Vitton holds a degree from the University of Michigan Business School and has served as a seat holder on the NYSE, and president of the New York Society of Metals Analysts.
Revitalizing critical mineral production in Quebec’s premier Matagami mining district.
Nuvau Provides Comprehensive Exploration Update at Matagami
"Multiple new discoveries, including the recent discovery of gold mineralization, demonstrate the potential of this large-scale property that was historically recognized solely for its base metal potential. The confirmation of a gold-bearing orogenic system adjacent to existing mine infrastructure significantly expands the opportunity for value creation. Nuvau is geared to continue the exploration on this large land package in the Abitibi," said Peter van Alphen, CEO of Nuvau Minerals Inc.
Highlights include the continued validation of the orogenic gold system that was discovered adjacent to the fully permitted Bracemac mine, and positive results from drilling additional zones on the Property, such as high-grade base metal mineralization at Caber and Renaissance:
- Discovery of Bracemac orogenic gold system
- First drill hole (BRCG-25-01) intersected 8.87 g/t Au over 1.05 m, including 16.02 g/t Au over 0.55
- Visible gold observed in three of four orientation holes completed to date, confirming the presence and continuity of the gold-bearing shear zone
- Caber Complex — 14 holes totaling 10,426 m completed to upgrade resources prior to an updated Mineral Resource Estimate (MRE)
- GCB-24-113: 5.49% Cu, 5.95% Zn, 0.15 g/t Au, and 35.66 g/t Ag — 2.8 m
- GCB-24-114: 4.43% Cu, 2.07% Zn, 0.12 g/t Au, and 9.05 g/t Ag — 2.75 m
- GCB-24-116: 1.85% Cu, 3.10% Zn, 0.05 g/t Au, and 9.81 g/t Ag — 27.2 m
- Renaissance Zone — 27 holes drilled, with 16 holes containing massive to semi-massive sulphides; initial MRE underway following highlight results including 1.03% Cu, 9.16% Zn, 0.03 g/t Au, and 6.54 g/t Ag over 4.7 m
- McLeod Extension — MRE in progress following 7 new intersections from 5,526 m of additional drilling to follow-up the 2023 discovery of 15.9 m grading 2.81% Cu, 14.80% Zn, and 0.39 g/t Au. New step-out results include:
- 0.52% Cu, 10.96% Zn, 0.42 g/t Au, and 11.71 g/t Ag over 4.20 m
- 2.45% Cu, 0.24% Zn, 0.11 g/t Au, and 11.39 g/t Ag over 7.75 m
Drilling is underway to follow-up the recent discovery of gold mineralization with 25 m of the existing mine access ramp at the Bracemac Mine. Visible gold has now been observed in three of four holes drilled in this new target, confirming a continuous shear zone intersected in all holes drilled to date. The system is hosted within a tonalite intrusive rock unit in the footwall of the Bracemac Mine, a rock unit where almost no historic holes have been drilled.
Gold exploration program
Operated by Glencore until June 2022, the Bracemac-McLeod mine was one of 12 past-producing base metal mines on Nuvau's 1,300 km² land package. Historic mining focused entirely on copper and zinc mineralization. Key infrastructure remains in place, and the mine remains permitted for operation. Little to no gold exploration was undertaken by the previous operators due to the previous focus on base metals.
Visible gold mineralization was observed in the first hole drilled to test the first of three priority gold exploration targets that Nuvau identified on this large-scale property. The current drill campaign is aimed at defining the parameters of this newly-identified gold-bearing structure. To-date, four drill holes spaced 25 to 40 metres apart have established the strike and dip of the host shear zone that is injected with quartz veins containing minor pyrite. A fifth hole is underway to test 100 metres below the initial drill holes.
Visible gold has now been observed in three holes with all holes having intersected a sheared intrusive (tonalite) containing folded quartz-calcite-chlorite veins, mineralized with 1-3% pyrite. The first hole intersected 8.87 g/t Au over 1.05 m with numerous grains of visible gold identified. Assay results from additional holes remain pending.
Figure 1: 3D view showing general location of the gold-bearing structure
To view an enhanced version of this graphic, please visit:
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Figure 2: Inclined long-section
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Caber Complex
Fourteen drill holes were completed totaling 10,426 m. This drilling was designed for the conversion of resources and to collect samples for metallurgical studies in preparation for a feasibility study of the Caber Complex deposits. A revised MRE is in progress and an updated PEA is planned with the aim of optimizing the Caber Complex mine plan and incorporating the potential restart of the Bracemac-McLeod Mine and mill complex into a detailed economic analysis.
Table 1: Assay results for the Caber Complex drill program
| Hole ID | from | to | length | Cu% | Zn% | Au(g/t) | Ag(g/t) |
| GCB-24-112 | Reassays ongoing | ||||||
| GCB-24-113 | 547.00 | 557.70 | 10.70 | 1.53 | 1.64 | 0.09 | 16.14 |
| And | 600.35 | 603.15 | 2.80 | 5.49 | 5.95 | 0.15 | 35.66 |
| And | 677.55 | 703.85 | 26.30 | 0.23 | 0.31 | 0.03 | 1.18 |
| GCB-24-114 | 591.85 | 594.40 | 2.55 | 0.11 | 12.55 | 0.07 | 12.33 |
| And | 655.60 | 657.70 | 2.10 | 1.36 | 4.14 | 0.09 | 25.95 |
| And | 733.45 | 756.00 | 22.55 | 0.65 | 0.76 | 0.03 | 1.50 |
| Incl | 748.55 | 751.30 | 2.75 | 4.43 | 2.07 | 0.12 | 9.05 |
| And | 756.90 | 763.60 | 6.70 | 0.54 | 0.02 | 0.02 | 0.33 |
| GCB-24-115 | Reassays ongoing | ||||||
| GCB-24-116 | 509.80 | 537.00 | 27.20 | 1.85 | 3.10 | 0.05 | 9.81 |
| And | 559.30 | 565.50 | 6.20 | 0.51 | 0.21 | 0.01 | 0.95 |
| GCB-24-117 | 460.50 | 495.00 | 34.50 | 0.89 | 0.99 | 0.10 | 6.69 |
| And | 495.00 | 498.55 | 3.55 | 0.37 | 0.01 | 0.04 | 6.37 |
| GCB-24-118 | 415.20 | 417.00 | 1.80 | 0.06 | 0.56 | 0.00 | 1.08 |
| And | 493.80 | 496.80 | 3.00 | 0.01 | 0.44 | 0.00 | 1.00 |
| And | 565.60 | 583.55 | 17.95 | 0.85 | 2.44 | 0.09 | 14.82 |
| And | 590.35 | 595.10 | 4.75 | 1.24 | 0.56 | 0.13 | 10.27 |
| And | 603.60 | 626.70 | 23.10 | 1.34 | 0.02 | 0.03 | 2.19 |
| Incl | 610.10 | 615.90 | 5.80 | 2.94 | 0.04 | 0.03 | 4.21 |
| GCB-24-119 | 505.85 | 507.50 | 1.65 | 3.73 | 6.82 | 0.22 | 28.48 |
| And | 513.30 | 513.70 | 0.40 | 0.61 | 2.16 | 0.14 | 23.00 |
| And | 519.50 | 519.80 | 0.30 | 1.81 | 0.46 | 0.24 | 14.00 |
| And | 579.85 | 583.45 | 3.60 | 3.66 | 3.43 | 0.21 | 18.36 |
| And | 605.85 | 617.95 | 12.10 | 1.32 | 2.97 | 0.10 | 14.74 |
| And | 676.05 | 681.40 | 5.35 | 0.01 | 0.03 | 0.00 | 0.79 |
| And | 690.15 | 744.50 | 54.35 | 0.25 | 0.41 | 0.02 | 0.84 |
| Incl | 710.50 | 715.35 | 4.85 | 0.35 | 4.10 | 0.02 | 1.24 |
| Incl | 717.00 | 720.85 | 3.85 | 1.17 | 0.06 | 0.04 | 3.14 |
| GCB-24-120 | 675.50 | 695.65 | 20.15 | 0.84 | 1.46 | 0.07 | 6.50 |
| And | 796.05 | 829.50 | 33.45 | 0.58 | 0.10 | 0.03 | 2.61 |
| Incl | 811.75 | 820.00 | 8.25 | 1.39 | 0.24 | 0.04 | 5.64 |
| Incl | 811.75 | 814.75 | 3.00 | 2.74 | 0.20 | 0.03 | 7.85 |
| GCB-25-121 | Reassays ongoing | ||||||
| GCB-25-122 | Reassays ongoing | ||||||
| GCB-25-123 | 410.60 | 416.40 | 5.80 | 0.67 | 0.55 | 0.03 | 4.18 |
| And | 545.20 | 545.55 | 0.35 | 0.74 | 4.56 | 0.12 | 18.00 |
| And | 568.50 | 569.05 | 0.55 | 1.52 | 4.14 | 0.38 | 26.00 |
| And | 626.15 | 627.65 | 1.50 | 0.87 | 2.56 | 0.08 | 9.20 |
| And | 678.35 | 720.40 | 42.05 | 0.56 | 0.58 | 0.04 | 5.09 |
| Incl | 678.35 | 683.20 | 4.85 | 3.04 | 3.45 | 0.25 | 30.73 |
| Incl | 706.45 | 720.40 | 13.95 | 0.59 | 0.44 | 0.03 | 3.29 |
| And | 735.10 | 738.40 | 3.30 | 0.66 | 0.01 | 0.01 | 1.21 |
| GCB-25-124 | 636.00 | 640.65 | 4.65 | 0.45 | 2.42 | 0.10 | 3.43 |
| And | 663.35 | 684.30 | 20.95 | 0.69 | 0.01 | 0.02 | 0.38 |
| GCB-25-125 | Reassays ongoing | ||||||
Renaissance Zone
The Renaissance Zone was discovered by Nuvau in 2023, targeting a geophysical anomaly located in the "West Camp" of the Matagami Property, immediately north of the Caber Complex deposits.
A total of 27 holes were drilled to test the Renaissance Zone, with 16 intersecting massive and semi-massive sulphide zones. An initial MRE for Renaissance is in progress. Results from the most recent drilling at Renaissance are provided in Table 2, below.
Table 2: Assays results for the Renaissance drilling program
| Hole ID | from | to | length | Cu% | Zn% | Au(g/t) | Ag(g/t) |
| REN-24-15 | 329.85 | 337.65 | 7.80 | 0.69 | 7.41 | 0.20 | 22.66 |
| REN-24-16 | 280.80 | 281.80 | 1.00 | 0.12 | 1.35 | 0.01 | 5.00 |
| REN-24-17 | 258.70 | 279.30 | 20.60 | 0.36 | 2.79 | 0.04 | 7.49 |
| Incl | 258.70 | 263.15 | 4.45 | 0.45 | 2.95 | 0.13 | 23.22 |
| And | 274.60 | 279.30 | 4.70 | 1.03 | 9.16 | 0.03 | 6.54 |
| REN-24-18A | No significant mineralization | ||||||
| REN-24-18 | 384.00 | 384.70 | 0.70 | 0.32 | 0.08 | 0.03 | 6.00 |
| REN-24-19 | Reassays ongoing | ||||||
| REN-24-20 | 463.65 | 478.35 | 14.70 | 0.72 | 1.66 | 0.05 | 6.47 |
| Incl | 463.65 | 472.75 | 9.10 | 0.77 | 1.86 | 0.03 | 5.48 |
| And | 476.10 | 478.35 | 2.25 | 1.47 | 3.13 | 0.20 | 18.60 |
| REN-24-21 | Reassays ongoing | ||||||
| REN-25-22 | 380.90 | 381.55 | 0.65 | 0.12 | 2.22 | 0.03 | 6.00 |
| And | 398.20 | 398.50 | 0.30 | 0.70 | 0.23 | 0.05 | 11.00 |
| And | 412.35 | 412.75 | 0.40 | 0.61 | 3.70 | 0.04 | 19.00 |
| REN-25-23 | 294.00 | 295.00 | 1.00 | 0.01 | 0.85 | 0.00 | 0.00 |
| And | 303.00 | 303.60 | 0.60 | 0.01 | 0.81 | 0.00 | 0.00 |
| REN-25-24 | No significant mineralization | ||||||
| REN-25-25 | No significant mineralization | ||||||
| REN-25-25EXT | No significant mineralization | ||||||
Figure 3: Renaissance Zone long-section
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McLeod extension
Intersected in 2023, the McLeod Mine extension demonstrated the potential for additional resources adjacent to existing mine workings, at the permitted past-producing Bracemac-McLeod Mine.
The extension discovery hole (MCL-13-31W1) returned 15.9 m grading 2.81% Cu, 14.80% Zn, and 0.39 g/t Au.
Seven new intersections from 5,526 m of additional drill holes completed will be incorporated into a MRE that is in progress. This zone will, along with the Caber Complex, be incorporated into future studies assessing the potential restart of the Bracemac-McLeod Mine and associated economic analysis. New results from the McLeod drill program are provided in Table 3 below.
Table 3: Assay results for the McLeod extension drilling program
| Hole ID | from | to | length | Cu% | Zn% | Au(g/t) | Ag(g/t) |
| MCL-13-31W6 | 1498.6 | 1502.8 | 4.2 | 0.23 | 2.39 | 0.14 | 11.90 |
| Incl | 1499 | 1500.05 | 1.05 | 0.65 | 3.92 | 0.13 | 20.24 |
| MCL-13-31W7 | 1400.6 | 1402.25 | 1.65 | 0.19 | 4.32 | 0.06 | 3.55 |
| And | 1426.85 | 1432.55 | 5.7 | 0.09 | 1.19 | 0.31 | 3.30 |
| MCL-13-31W8 | 1248.6 | 1251.3 | 2.7 | 0.18 | 2.84 | 0.45 | 6.59 |
| MCL-18-90W2 | 1605 | 1607.2 | 2.2 | 0.09 | 0.02 | 0.11 | 1.64 |
| MCL-18-90W3 | 1625.7 | 1627.4 | 1.7 | 0.09 | 0.54 | 0.18 | 3.24 |
| MCL-18-91W1 | 1500.2 | 1502.35 | 2.15 | 1.44 | 0.07 | 0.31 | 10.65 |
| And | 1510 | 1519.5 | 9.5 | 0.88 | 0.05 | 0.09 | 7.74 |
| And | 1531.5 | 1534.5 | 3 | 0.72 | 0.06 | 0.08 | 4.67 |
| MCL-18-91W2 | 1586.8 | 1611.75 | 24.95 | 1.04 | 2.36 | 0.14 | 7.03 |
| Incl | 1586.8 | 1591 | 4.2 | 0.52 | 10.96 | 0.42 | 11.71 |
| Incl | 1604 | 1611.75 | 7.75 | 2.45 | 0.24 | 0.11 | 11.39 |
About Nuvau Minerals Inc.
Nuvau Minerals is a Canadian mineral exploration company advancing the Matagami mining camp, covering more than 1,300 km² of highly prospective ground in the Abitibi region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property, which is host to significant existing processing infrastructure and multiple mineral deposits, but has never been subjected to a comprehensive gold-focused exploration program. The Company is leveraging innovative exploration methods, including AI-supported generative targeting and hydro-geochemistry, to identify and develop new gold and base metal deposits.
Qualified Person and Quality Assurance
Gilles Roy P. Geo. (Qc), Director of Exploration of Nuvau and a "qualified person" as is defined by National Instrument 43-101, has verified the scientific and technical data disclosed in this news release, and has otherwise reviewed and approved the scientific and technical information in this news release.
Drill core samples are sawn by staff technicians to create half core splits. One split is retained in the drill core box for archival purposes with a sample tag affixed at each sample interval and the other split is placed in a labelled plastic bag along with a corresponding sample number tag and placed in the shipment queue.
Quality control samples including blind certified reference material ("CRM"), blank material, and core duplicates are inserted at a frequency of 1 in every 20 samples and sample batches of up to 60 samples were then shipped directly by Nuvau personnel to the ALS Canada Ltd. preparation laboratory in Rouyn-Noranda, Québec.
All submitted core samples are crushed in full to 95 % passing less than 2 mm (ALS code CRU-32). A 1000-gram sample was then riffled split from the crushed material and pulverized to 90 % passing 75 μm (SPL-22 and PUL-32a). Pulps are shipped from the preparation laboratory to ALS Canada Ltd.'s analytical lab in North Vancouver, British Columbia, for assay.
Lead, silver, copper and zinc analyses were determined by ore grade four acid digestion with an inductively coupled plasma atomic emission spectroscopy ("ICP-AES") or atomic absorption spectroscopy ("AAS") finish (ALS codes Pb-OG62, Ag-OG62, Cu-OG62 and ZnOG62), whereas gold was determined by 50 g fire assay analysis with an AAS finish (code Au-AA23).
A second method, PhotonAssay analysis (code Au-PA01), was used on a single sample from hole BRCG-25-01 where visible gold was observed. The remaining reject material was pulverized to 95% passing 106um (PUL-32a) and recombined with the remaining master pulp material and split into three jars (~500g each) and shipped from the preparation laboratory to ALS Canada Ltd.'s analytical lab in Thunder Bay Ontario, for photon assayed. The reported value is the combined weighted assay result representing the entire length of the sample. For comparison gold determined by 50 g fire assay analysis return 15.75 g/t Au, compared to 16.02 g/t Au by PhotonAssay.
ALS Canada Ltd. is an accredited, independent commercial analytical firm registered to ISO/IEC 17025:2017 and ISO 9001:2015.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6063
Email: pvanalphen@nuvauminerals.com
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning drill results relating to the Matagami Property, the results of the PEA, the potential of the Matagami Property, the timing and commencement of any production, the restart of the Bracemac-McLeod Mine, the completion of the earn-in of the Matagami Property and the timing and completion of any technical studies, feasibility studies or economic analyses. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Matagami Property. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Nuvau Launches Follow up Drilling to Bracemac Footwall Gold Discovery in Matagami
Nuvau Minerals Inc. (TSXV: NMC) has begun its minimum 1,500 m drill program aimed at testing continuity and extensions to the orogenic gold system discovered last month. The discovery was made with the first hole drilled of an inaugural gold-focused exploration program, in the footwall of the Bracemac-McLeod Mine approximately 200 m below surface. The follow-up program is being drilled immediately north east of this base metal mine, which was in production until mid 2022.
The Matagami Property is in the northern Abitibi Region of Quebec, one of the world's most prolific gold endowed districts. This northern part of the Abitibi region includes Canada's largest gold producing mine with the country's largest gold mineral reserves: the Detour Lake Mine owned by Agnico Eagle Mines Limited. Hecla Mining Company's Casa Berardi Mine, which has produced over 3 million ounces of gold, is located to the southwest of the Matagami Property (see Figure 1 below).
While the Abitibi's first recorded gold discovery was 119 years ago in Rouyn-Noranda, the Matagami Property remains one of the largest areas in the region that has not been subject to a gold focused exploration program. Previous owners were concentrating on defining and developing multiple VMS deposits into multiple mines that produced extensive copper and zinc for more than 60 years. This was one of the primary opportunities Nuvau identified when it entered into the agreement to acquire the Property from Glencore. The Company recently began compiling gold related historic data, as well as launching several gold-focused initiatives (including till sampling) aimed at defining initial targets for drilling.
Figure 1: Matagami property location
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Nuvau's current gold-focused exploration program has identified three initial priority targets:
- Bracemac Footwall Discovery
- Gold-in-Till Anomaly Target
- Thunder Mine (1988) Target
The map below shows the location of these three targets (Figure 2). The vast majority of this 1,300 km2 land pack remains open for gold exploration.
Figure 2: Current gold targets
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1. Bracemac Footwall Discovery
The recent discovery of gold mineralization in the footwall of the Bracemac Mine is located only 25 m from the access ramp of this permitted mine. The steeply dipping, strong shear zone structure with quartz veining mineralized with pyrite and locally visible gold was intersected at a depth of approximately 200 m. The visible gold was observed over approximately 0.5 m of core and assays are still pending on the discovery hole, BRCG-25-001.
Although located within the immediate footwall of the past-producing Bracemac-McLeod mine, the mineralized structure occurs in a late intrusive that truncated the mine host rock units (see Figure 3). The intrusive has seen very little drilling as the stratigraphy was not of interest for VMS exploration.
The follow up drill program is now underway to continue to step-out both up and down dip, and along strike, to test continuity of mineralization within the structural corridor as well as providing critical data on the dip and strike of the vein.
Figure 3: Past producing Bracemac-McLeod Mine and relative position of gold target drilled (left); schematic of the stratigraphy (right)
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Figure 4: Visible gold found in more than 30 gold chips identified in logging the core
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2. Gold-in-Till Anomaly Target
As part of Nuvau's target generative exploration program, an overburden (till) drilling program was launched in 2023. This program resulted in the discovery of significant gold-in-till mineralization that was announced on March 4, 2025.
From the 2023 sonic drill program, hole PD-23-030s produced a notable gold grain anomaly detected at a depth of between 29.26 to 29.87 m in the overburden and featured more than 2,000 gold grains per 10 kg of material. In addition, a near-contiguous sample with 295 gold grains per 10 kg of material between 31.12 to 32.00 m was also encountered with the interval between consisting of a large locally derived boulder. Based on the almost pristine nature of the gold grains, and their close proximity to the bottom of the hole, the source is expected to be relatively close to this hole. (See images of gold grains below in Figure 5.)
To assist in defining targets in this area, a detailed drone MAG survey was completed. The limited rock outcrops were also mapped recently and together with the MAG data, a drill program is being designed for later this year. The objective of this drill program will be to gain a better understanding of the local geological structures and to test for the potential source of the extensive gold grains.
Figure 5: Mosaic of backscattered electron images of gold grain
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Notice the delicate textures and silicate attachments. LEFT: Image of 230 gold grains found in sample 155320186, hole PD-23-030s, RIGHT: Image of 112 gold grains found in adjacent sample 155320187.
3. Thunder Mine (1988) Target
The Thunder Mine property was acquired by Nuvau in 2023 for its potential for both base metal and gold mineralization. In 1988, Thunderwood Exploration Ltd. drilled a series of holes as follow-up to a 1959 hole that intersected copper mineralization (see Figure 6).
This follow-up program identified multiple gold-bearing structures; however, no subsequent follow-up work was completed. Highlight intercepts from the available public domain report include the following:
- DT-14-88: 209.00 - 209.80 m (0.80 m) @ 26.40 g/t Au.
- DT-10-88: 205.00 - 206.00 m (1.00 m) @ 78.16 g/t Au.
- DT-18-88: 100.80 - 107.30 m (6.50 m) @ 1.55 g/t Au, incl.: 0.30 m @ 4.89 g/t Au.
- DT-19-88: 226.00 - 231.00 m (5.0 m) @ 2.27 g/t Au, Incl.: 0.50 m @ 10.39 g/t Au.
- DT-20-88: 136.80 - 137.10 m (0.30 m) @ 10.37 g/t Au and 204.50 - 205.00 m (0.50 m) @ 6.48 g/t Au.
- DT-21-88: 310.50 - 319.90 m (9.40 m) @ 4.02 g/t Au, incl.: 0.70 m @ 42.03 g/t Au and 0.70 m @ 7.30 g/t Au.
These results been extracted from historical information, and are not compliant with NI 43-101. The original results are available via GESTIM, GM 48216, and GM 08790 at the following links:
- https://gq.mines.gouv.qc.ca/documents/EXAMINE/GM48216/GM48216.pdf
- https://gq.mines.gouv.qc.ca/documents/EXAMINE/GM08790/GM08790.pdf.
Thunder mine drilling is planned as part of Nuvau's winter drilling program in Q1 2026.
Figure 6: Thunder Mine Past drilling
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About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
Qualified Person and Quality Assurance
Bastien Fresia P. Geo. (Qc), Technical Services Director of Nuvau and a "qualified person" as is defined by National Instrument 43-101, has verified the scientific and technical data disclosed in this news release, and has otherwise reviewed and approved the scientific and technical information in this news release.
Drill core samples are sawn by staff technicians to create half core splits. One split is retained in the drill core box for archival purposes with a sample tag affixed at each sample interval and the other split is placed in a labelled plastic bag along with a corresponding sample number tag and placed in the shipment queue.
Quality control samples including blind certified reference material ("CRM"), blank material, and core duplicates are inserted at a frequency of 1 in every 20 samples and sample batches of up to 60 samples were then shipped directly by Nuvau personnel to the ALS Canada Ltd. preparation laboratory in Rouyn-Noranda, Québec.
All submitted core samples are crushed in full to 95 % passing less than 2 mm (ALS code CRU-32). A 1000-gram sample was then riffled split from the crushed material and pulverized to 90 % passing 75 μm (SPL-22 and PUL-32a). Pulps are shipped from the preparation laboratory to ALS Canada Ltd.'s analytical lab in North Vancouver, British Columbia, for assay.
Lead, silver, copper and zinc analyses were determined by ore grade four acid digestion with an inductively coupled plasma atomic emission spectroscopy ("ICP-AES") or atomic absorption spectroscopy ("AAS") finish (ALS codes Pb-OG62, Ag-OG62, Cu-OG62 and ZnOG62), whereas gold was determined by 50 g fire assay analysis with an AAS finish (code Au-AA23).
ALS Canada Ltd. is an accredited, independent commercial analytical firm registered to ISO/IEC 17025:2017 and ISO 9001:2015.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning drill results relating to the Matagami Property, the results of the PEA, the potential of the Matagami Property, the timing and commencement of any production, the restart of the Bracemac-McLeod Mine, the completion of the earn-in of the Matagami Property and the timing and completion of any technical studies, feasibility studies or economic analyses. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Matagami Property. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262123
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Nuvau's Gold-Focused Exploration Program Underway at Matagami
Visible gold found in first hole—assays are pending
Nuvau Minerals Inc. (TSXV: NMC) has launched its gold-focused exploration program at its Matagami Property where the first hole drilled intersected what appears to be an orogenic lode gold system close to the Bracemac McLeod Mine in Matagami. Assays are pending after Nuvau intersected visible gold in a structure intersected in the first hole.
"We are extremely encouraged by the success of the initial hole of our maiden gold focused diamond drill program on this 1,300 square kilometre land package," said Peter Van Alphen, Nuvau's CEO. "The footwall rock units where this new vein intercept occurs is in a largely untested part of the property, in an area not deemed favourable for base metal mineralization. In addition, this mineralized zone is located less than 25 metres from the mine access ramp at the permitted Bracemac McLeod Mine."
The steeply dipping, strong shear zone structure with quartz veining mineralized with pyrite and locally visible gold was intersected at a depth of approximately 200 metres below surface. Although it is within the footwall stratigraphy of the past-producing Bracemac McLeod mine, the area has seen very little drilling in the past as it was not of interest for VMS type exploration. Planning is underway for the follow up drilling which is expected to begin within the next two weeks.
Figure 1: Past producing Bracemac McLeod Mine and relative position of gold target drilled
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Figure 2: Visible gold found in more than 30 gold chips identified in logging the core
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The Matagami Property has hosted numerous base metal mines over the last 60 years. However previous owners never applied a gold-focused exploration program to this large-scale property even though it is strategically located in the Abitibi geological sub-province.
The Property is located in the Abitibi Region of Quebec, one of the world's most productive gold districts. It includes Canada's largest gold producing mine with the country's largest gold mineral reserves: the Detour Lake Mine. Detour Lake is owned by Agnico Eagle Mines Limited, located west of the Matagami Property. The Casa Berardi Mine, which has produced over 3 million ounces of gold, is also located to the just southwest of the Matagami Property. (See Figure 3, below.)
Figure 3: Property Location
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Gold Exploration work: background
Since satisfying the spending requirement associated with the earn-in agreement with Glencore, Nuvau has begun working on unlocking the overlooked gold potential of this vast, 1,300 square kilometre Matagami property.
This work includes compilation of historic data, overburden till sampling, a detailed high-resolution drone airborne magnetic (MAG) survey, and now diamond drilling. The sonic (till) drill program discovered a significant gold grain anomaly in the central portion of the Property (see Nuvau Press Release, March 4, 2025) that will be subject to follow up drilling in the upcoming winter drill program. Compilation of historic data in the vicinity of the base metal mines on the main "mine trend" identified numerous areas where gold mineralization had been intersected, however no follow-up work was ever completed.
About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
Qualified Person and Quality Assurance
Bastien Fresia P. Geo. (Qc), Technical Services Director of Nuvau and a "qualified person" as is defined by National Instrument 43-101, has verified the scientific and technical data disclosed in this news release, and has otherwise reviewed and approved the scientific and technical information in this news release.
Drill core samples are sawn by staff technicians to create half core splits. One split is retained in the drill core box for archival purposes with a sample tag affixed at each sample interval and the other split is placed in a labelled plastic bag along with a corresponding sample number tag and placed in the shipment queue.
Quality control samples including blind certified reference material ("CRM"), blank material, and core duplicates are inserted at a frequency of 1 in every 20 samples and sample batches of up to 60 samples were then shipped directly by Nuvau personnel to the ALS Canada Ltd. preparation laboratory in Rouyn-Noranda, Québec.
All submitted core samples are crushed in full to 95 % passing less than 2 mm (ALS code CRU-32). A 1000-gram sample was then riffled split from the crushed material and pulverized to 90 % passing 75 μm (SPL-22 and PUL-32a). Pulps are shipped from the preparation laboratory to ALS Canada Ltd.'s analytical lab in North Vancouver, British Columbia, for assay.
Lead, silver, copper and zinc analyses were determined by ore grade four acid digestion with an inductively coupled plasma atomic emission spectroscopy ("ICP-AES") or atomic absorption spectroscopy ("AAS") finish (ALS codes Pb-OG62, Ag-OG62, Cu-OG62 and ZnOG62), whereas gold was determined by 50 g fire assay analysis with an AAS finish (code Au-AA23).
ALS Canada Ltd. is an accredited, independent commercial analytical firm registered to ISO/IEC 17025:2017 and ISO 9001:2015.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning drill results relating to the Matagami Property, the results of the PEA, the potential of the Matagami Property, the timing and commencement of any production, the restart of the Bracemac-McLeod Mine, the completion of the earn-in of the Matagami Property and the timing and completion of any technical studies, feasibility studies or economic analyses. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Matagami Property. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259588
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Nuvau Announces Voting Results of Its Annual and Special Meeting of Shareholders and Announces the Appointment of Steven Bowles as Chair of the Board
Nuvau Minerals Inc. (TSXV: NMC) (the "Company" or "Nuvau") is pleased to announce the results of its annual and special meeting of shareholders of the Company (the "Meeting") held on June 26, 2025.
A total of 18,122,588 common shares of the Company ("Common Shares") were represented, in person or by proxy, at the Meeting, representing approximately 35.5% of the total issued and outstanding common shares as of the record date of the Meeting.
All matters presented for shareholder approval at the Meeting were overwhelmingly approved as follows:
- Peter van Alphen, Ewan Downie, Fariah Mir, Christina McCarthy, Michael Vitton and Steven Bowles were each re-elected as directors of the Company for the ensuing year;
- Ernst & Young LLP was re-appointed as auditor of the Company for the ensuing year and the directors of the Company have been authorized to fix their remuneration; and
- the Company's omnibus equity incentive plan was re-approved by shareholders in accordance with the policies of the TSX Venture Exchange (the "Omnibus Plan").
The Omnibus Plan was last adopted by shareholders of the Company on August 29, 2024. The Omnibus Plan is a fixed 10% plan and provides for the grant of options, restricted share units, performance share units and deferred share units. The aggregate maximum number of Common Shares reserved for issuance pursuant to the Omnibus Plan is 5,109,999 Common Shares (less any Common Shares reserved for issuance under outstanding awards and under other security-based compensation arrangements of the Company). The Omnibus Plan has received conditional acceptance from the TSX Venture Exchange.
In addition, and further to the Company's commitment to growing its business within Quebec, the Company is pleased to announce the appointment of Quebec based Steven Bowles as Chair of the board of the directors of the Company effective as of June 27, 2025. Steven Bowles has extensive experience in the Mining & Metals sector, encompassing private equity, private credit, M&A, and projects/operations management. He currently serves as Managing Director at Nebari Partners. Prior to this role, he held the position of Senior Director of investment in natural resources and energy within Investment Quebec's private equity group.
For more details regarding the matters presented at the Meeting, please refer to the management information circular dated May 26, 2025, which is accessible on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile and on the Company's website at www.nuvauminerals.com.
About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
For more information go to our website www.nuvauminerals.com.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the Company's ability to complete the earn-in to acquire the Matagami Property; the Matagami Property holding multiple mineral deposits; and the significance of existing infrastructure at the Matagami Property.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Nuvau Minerals Inc. Announces Grant of Options
Nuvau Minerals Inc. (TSXV: NMC) (" Nuvau " or the " Company ") is pleased to announce that it has granted an aggregate of 2,430,000 stock options of the Company (" Options ") in two tranches to certain directors, officers and employees of the Company.
The first tranche consists of 1,500,000 Options (the " Tranche 1 Options ") with each Tranche 1 Option entitling the holder to acquire one common share at an exercise price of $0.90 per common share until May 29, 2030 . The Tranche 1 Options are subject to vesting provisions, with 50% of the Tranche 1 Options vesting immediately and the remaining Tranche 1 Options vesting on December 12, 2025 .
The second tranche consists of 930,000 Options (the " Tranche 2 Options ") with each Tranche 2 Option entitling the holder to acquire one common share at an exercise price of $0.47 per common share until May 29, 2030 .
About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
For more information go to our website www.nuvauminerals.com .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Disclaimer & Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, " forward-looking statements ") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Options. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Nuvau Minerals Inc.
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Zinc Price Update: H1 2025 in Review
What happened to the zinc price in H1?
The zinc price started the year with downward momentum, sliding from US$3,150 per metric ton on December 10 to US$2,750 on January 31. The metal found some support in February and March, climbing to US$2,928 on February 24 and then reaching a year-to-date high of US$2,971 on March 14; however, the move wasn’t to last.
The bottom fell out from under zinc, and itquickly plunged to its year-to-date low of US$2,562 on April 9.
Zinc price, January 1 to July 31, 2025.
Chart via TradingEconomics.
Since then, the zinc market has been volatile, and although it has recovered somewhat, the price is still far from its first quarter highs, peaking at US$2,865 on July 23.
Zinc supply and demand dynamics
According to a June 29 review from Shanghai Metal Market, ex-China zinc concentrate production increased by 6.47 percent in the first quarter to 1.3 million metric tons versus 1.22 million metric tons during the same period of 2024.
The organization attributes these increases to a resumption in production at Boliden’s (STO:BOL) Tara mine in Ireland, as well as ramp ups at Grupo Mexico’s (BMV:GMEXICOB) Buenavista mine in Mexico and Ivanhoe Mines' (TSX:IVN,OTCQX:IVPAF) Kipushi mine in the Democratic Republic of Congo.
Additionally, Shanghai Metal Market notes that Xinjiang’s Huoshaoyun lead-zinc mine started production in May, with output reaching 50,000 metric tons in its first two months and is expected to reach 150,000 metric tons in July.
The company is targeting full-year production of 700,000 to 750,000 metric tons.
Although supply seems robust and Chinese imports of concentrates increased 52.46 percent over 2024, treatment charges for imported metal have also increased from US$20 per metric ton at the start of the year to US$65 in May. The sharp increase in fees indicates an oversupply in the market, allowing smelters to charge more.
The Shanghai Metal Market findings are further supported by data released from the International Lead and Zinc Study Group (ILZSG), which reported on June 18 that mining supply had increased during the first four months of the year to 3.94 million metric tons from 3.75 million metric tons in 2024. It also shows flat demand for the metal, with 4.28 million metric tons consumed during that period versus 4.3 million metric tons last year.
Changing US trade policies impacting zinc
A steep decline in commodities prices in April demonstrates just how fragile the global markets can be.
The zinc price fell 13.77 percent at the start of April to US$2,562 per ton alongside President Trump’s “Liberation Day” tariff announcement and subsequent sell-off in the equity and US Treasury markets.
The prediction from analysts at the time was that if reciprocal tariffs were put in place, it would trigger a recession before the end of the year, impacting consumer spending on homes and cars, which have significant zinc inputs.
Demand for the metal has already been weak over the past several years due to high inflation and interest rates following the pandemic. Although inflation has eased and interest rates have begun to normalize, the new tariff threat provides a new layer of uncertainty. So far, automakers have yet to raise their prices, but demand for new cars increased 2.5 percent in March, double the 1.1 percent typical for the same period in recent years. The gain has been attributed to consumers looking to get ahead of more significant price increases down the line.
The impetus behind the tariffs is to stimulate domestic production, but the willingness from producers to follow through on new US projects remains uncertain.
For its part, the Trump administration has signalled its willingness to back large infrastructure and critical mineral projects by continuing the FAST-41 program that started under former President Joe Biden. The program aims to streamline the permitting process and speed development timelines to get the projects to production faster.
So far, the only zinc project to be included on the list is South32's (ASX:S32) Hermosa, near Tucson, Arizona.
Progress at the site has continued, with the company reporting in its update for the June quarter that it had made US$517 million in investments in its 2025 fiscal year. It also states that work on the main and ventilation shafts began during the second quarter, and construction work at the processing plant had begun.
In addition to development activities, the company also reported that it met a key milestone with the US Forest Service releasing a draft environmental impact statement.
The project is expected to see its first production from the Taylor deposit during the second half of 2027.
As a campaign promise, Trump proposed freeing up federal lands for housing projects, which could drive demand for galvanized steel products. The plan would invite developers to bid on land with the promise that a percentage of units would be set aside for affordable housing, and close the 4 million home shortfall.
However, a report from Realtor.com on July 22 poured cold water on the idea, stating that while it could offer incremental gains, it noted that there wasn’t enough land in places that need housing most.
Instead, the report suggested there are better methods available, including land use and zoning reforms, and increasing construction capacity in high-demand regions.
Zinc price forecast for 2025
With supply surpluses expected from the ILZSG, a significant turnaround may not be in the cards for zinc in the short term, especially when met by weak demand due to tariff uncertainty. Although there was some recovery at the end of the second quarter, the oversupply situation doesn’t lend much support for the market to turn bullish.
The market has largely seen a dearth of investment as the market fundamentals haven’t provided support.
A June 11 report from analysts with German investment bank IKB notes the oversupply situation developing in the zinc market, and forecasts that by the end of Q3, the zinc price will be trading in the US$2,600 range.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Group Eleven Announces $2.2 Million in Early Warrant and Option Exercises and Provides Update on Carrickittle West 'Pallas Green Lookalike' Target
- Early warrant and option exercises totalling proceeds of $2,206,752 received since C$2.5 mln placement closed Feb-28-2025 (including $1,852,902 since publication of Q1 2025 financials)
- Extra proceeds provide flexibility to ramp-up 2025 drilling and/or extend drilling well into 2026
- At Carrickittle West, four holes were completed late 2024 and early 2025 (three holes located at Stonepark and one hole located at PG West)
- Most significant target to emerge from this drilling is the Kilteely Prospect (large breccia body spanning at least 1.5km in strike)
- G11-2840-30 (365m step-out) intersected numerous zones of weak breccia with pyrite over narrow intervals throughout the Waulsortian Limestone; some breccias returned anomalous Zn-Pb and Cu levels, with the base of the Waulsortian Limestone (key target horizon) hosting minor disseminated pyrite and trace sphalerite
- Several occurrences of trace sphalerite are present in the hole, potentially suggesting increasing proximity to stronger mineralization relative to previous drilling at Kilteely
- Three other target areas have also emerged at Carrickittle West, including the Bruff Prospect
- G11-449-03 (315m step-out), targeting part of the >50km long Coonagh Castle Fault, intersected extensively dolomitized Waulsortian Limestone and a very prominent zone of calcite extending over 35m (from 294m), similar to Ballywire
- Base of Waulsortian is highly dolomitized over a 25m interval with similarities to 'fault dolomite' observed at Ballywire, which indicates intense hydrothermal fluid flow and close proximity to a major fault; follow-up drilling is highly warranted
"Carrickittle West continues to be one the best drill targets in Ireland," stated Bart Jaworski, CEO. "Being within only a few kilometres of 45 and 5 million tonnes of mineralization from Glencore's Pallas Green1 and our Stonepark2 deposits, respectively, this prospect has a real chance at hosting the southern half 'mirror-image' of the mineralizing system operating at the northern side of the Limerick Volcanic Complex. Today's drill results demonstrate the presence of key attributes – brecciation, faulting, hydrothermal fluids and significant pyrite. The fact we're also starting to pick up sphalerite locally in some of the drilling suggests we may be getting close to the high-grade. We look forward to follow-up drilling. Meanwhile, three rigs are turning at our Ballywire discovery and we anticipate the next drill results over the coming few weeks."
Ballywire Drill Update
Drilling at Ballywire continues with three rigs. Currently, nine (9) new holes are completed (and in the process of being logged, sampled and assayed). Seven of these holes are shown in Exhibit 1, with two other holes near gravity-high anomaly 'D' (located 1.3km to the ENE). Additional funding described above, nearly equal to Group Eleven's most recent private placement, increases the Company's cash to approx. C$4.3 mln (as at 13-Jun-2025). This strengthened financial position provides Group Eleven flexibility to either ramp-up drilling in 2025 and/or extend its runway for drilling well into 2026.
Exhibit 1. Plan Drill Hole Map of Ballywire Discovery, Showing New Drilling In Progress
New Step-Out Holes at Carrickittle West Target Area
The Carrickittle West target area spans the Company's 77.64%-owned Stonepark Project and 100%-owned PG West Project. In addition to holes G11-2840-30 and G11-449-03 summarized above (and shown in Exhibits 2-4), the following is a summary of the remaining two holes drilled (see Exhibit 2).
- G11-450-04 (570m step-out from previous drilling in area)
- Planned to test the hanging wall (north side) of the Kilteely Fault but intersected the footwall (south side) instead
- The base of the Waulsortian Limestone comprises a fine-grained dolomite, similar to Ballywire, with a series of breccias similar to black matrix breccia ("BMB", host alteration to Zn-Pb mineralization at Lisheen, Galmoy, Silvermines and Pallas Green)
- Pyrite is extensive in breccias with anomalous levels of base metals
- Colloform semi-massive pyrite is present from 265.27m to 265.73m and at 267.5m
- Future drilling will target base of Waulsortian on the hanging wall of the Kilteely Fault
- G11-2531-02 (710m step-out from previous drilling in area)
- Planned to test the hanging wall of Coonagh Castle Fault, but intersected the footwall instead
- Waulsortian is dolomitized throughout and contains extensive zones of pyritic brecciation at the top and base of the Waulsortian Limestone
- Breccias have vague similarity to Stonepark-style BMB
A follow up drill program is being designed, with one hole planned at Stonepark later this year and the remainder of holes to be drilled in 2026.
Exhibit 2. Plan View of New Drilling at Carrickittle West Target Area
Note: Carrickittle West target area (including the Kilteely and Bruff prospects) is located along the south side of the Limerick Volcanic Complex; 'Fault (Removed)' denotes previously inferred fault removed from new interpretation; 'Fault (Added)' denotes newly inferred fault
Exhibit 3. Plan View of Kilteely Prospect Showing New and Historic Drilling
Note: '?' = areas of prospectivity; Red dot = hole with sphalerite but no galena or massive pyrite; Orange dot = hole without sphalerite or galena but with massive or semi-massive pyrite; Yellow dot = hole with trace-minor pyrite; 'M.Py' = massive or semi-massive pyrite; 'Ox.' = intense oxidation; drilling at Carrickittle's Zn-Pb mineralized zones not shown
Exhibit 4. Cross-Section of the Bruff Prospect
Note: 'Future Hole?" denotes one of several possible hole locations which may be drilled in the area; 'brxx' = breccia
Exhibit 5. Regional Map of Ballywire Discovery and Carrickittle West Target Area
Notes to Exhibit 5: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the 'NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR+; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in 'Report on Prospecting Licence 464' by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in 'The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody' by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in 'Report on Mallow Property' by David Wilbur, dated December 1973; and later summarized in 'Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork' by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. 'Rathdowney Trend' is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.
Qualified Person
Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent 'Qualified Person' as defined under Canadian National Instrument 43-101.
Sampling and Analytical Procedures
All core drilled at Carrickittle West is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.32m to 1.4m with the majority of samples in the 0.80m to 1.00m range. The half-core samples are bagged, labelled and sealed at Group Eleven's core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70% < 2mm, riffle splitter, pulverise up to 250g 85% < 75um. Analytical procedures are 34 element four acid ICP-AES (codes ME-ICP61 and ME-OG62). Other than paying for a professional analytical service, Group Eleven has no relationship with ALS.
Quality Assurance/Quality Control (QA/QC) Information
Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:
- 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
- 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
- 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
- 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
- 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
- 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
- 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
- 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
- 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)
Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit2, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit1. The Company's two largest shareholders are Glencore Canada Corp. (16.1% interest) and Michael Gentile (16.0%). Additional information about the Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Bart Jaworski, P.Geo.
Chief Executive Officer
E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the current project or property being disclosed. This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
Group Eleven Resources
Investor Insight
Group Eleven Resources’ new high-grade zinc discovery, its strong shareholders, and infrastructure-rich jurisdiction present a compelling investment case. With Glencore and Michael Gentile as the two largest shareholders, the company is well-positioned to leverage its discoveries into high-return opportunities.
Overview
Group Eleven Resources (TSXV:ZNG,OTC:GRLVF,FRA:3GE) is a Canadian mineral exploration company focused on unlocking value in Ireland’s world-class zinc districts. The company’s two flagship assets—PG West and Stonepark—are contiguous projects that together form the largest exploration land package in the Limerick region, a prolific and mining-friendly jurisdiction historically known for high-grade zinc deposits.
A game-changing development for Group Eleven is its 2022 Ballywire discovery, a high-grade, zinc-lead-silver system with recent assays also confirming elevated levels of germanium, a critical mineral used in semiconductors and green technologies. Ongoing drilling continues to expand the mineralized footprint and strengthen Ballywire’s profile as a potentially company-making asset.
Zinc is a critical metal for global infrastructure and plays an increasingly important role in grid-scale energy storage, particularly through zinc-air and zinc-ion battery technologies, emerging alternatives to lithium-based systems. With global refined zinc inventories at multi-decade lows and demand forecast to rise sharply alongside renewable energy adoption and infrastructure investment, Group Eleven is well-positioned to benefit from strong market tailwinds.
Ireland ranks among the top mining jurisdictions globally, offering a stable political environment, modern infrastructure, and a long history of successful zinc production, including the Tara mine—one of the world’s largest and longest-operating zinc mines. Ireland consistently receives high scores in the Fraser Institute’s Mining Investment Attractiveness Index.
Adding to Group Eleven’s investment appeal is a strong strategic partnership with Glencore, which holds a 16.1% ownership stake and a seat on the company’s board. This relationship provides not only technical expertise but also potential downstream and development synergies. Other major industry players, including South32 and Boliden, also maintain a strong presence in the region.
With a high-impact discovery, supportive commodity fundamentals, a Tier-1 jurisdiction, and backing from a major global miner, Group Eleven Resources offers investors significant exposure to zinc and critical minerals at a compelling valuation.
Company Highlights
- High-Grade Discovery at Ballywire: Group Eleven’s flagship Ballywire target in Ireland continues to deliver exceptional zinc-lead-silver (and germanium) results, with mineralization pierced over a 2.6 km strike length.
- New Copper Potential: Most recent drilling has demonstrated the presence of strong copper (up to 10.5 percent copper) and silver (up to 1880 g/t) grades over long intervals, pointing to a deeper copper target beneath the zinc horizon.
- Strong Strategic Backing by Glencore: Global mining leader Glencore is a key shareholder, holding a 16.1 percent stake in Group Eleven and maintaining board-level involvement. This partnership enhances technical collaboration and reflects strong confidence in the company’s assets and leadership.
- Tier-One Address in a Premier Zinc District: The company’s core PG West and Stonepark projects are located adjacent to Glencore’s Pallas Green deposit, one of the world’s largest undeveloped zinc resources.
- High-Impact Exploration at Carrickittle West: A compelling target within the Stonepark project, Carrickittle West exhibits strong geological parallels to Pallas Green.
- Infrastructure and Supportive Government: Ireland consistently ranks as a top-tier mining jurisdiction on the Fraser Institute’s Annual Mining Survey. It leads the world in zinc discovered per square kilometer, underscoring the region’s unmatched combination of zinc prospectivity and excellent infrastructure. The Irish government recently announced it would invest €30m into fast-tracking Irish mining projects.
Key Projects
PG West and Stonepark Projects
Group Eleven’s PG West and Stonepark projects form a dominant land package in the Limerick region of southwestern Ireland, covering over 350 square kilometres in a highly prospective zinc-lead-silver district. Strategically located within and around the Limerick Volcanic Complex, this region hosts Glencore’s world-class Pallas Green deposit—the second-largest zinc deposit discovered to date in Ireland, demonstrating the area’s exceptional mineral endowment.
Ballywire Discovery – A Major Zinc-Lead-Silver Breakthrough
At PG West, the company’s flagship Ballywire discovery, announced in September 2022, represents the most significant zinc exploration breakthrough in Ireland in more than a decade. Drilling to date has confirmed robust and continuous mineralization over a 2.6-kilometre strike length within a 6 km x 2 km prospective corridor. Importantly, all (but one) of the 52 holes drilled to date at Ballywire intersected mineralization, highlighting the consistency and scale of the system.
Ballywire features high-grade, flat-lying massive sulphide horizons. Notable intercepts include:
- 29.6 m grading 10.6 percent combined zinc and lead with 78 g/t silver, and
- 6.9 m grading 15.4 percent combined zinc and lead with 160 g/t silver.
Germanium (Ge) grades re-assayed from high-grade zinc intervals at Ballywire include up to 79.2 g/t, 71.7 g/t and 70.7 g/t, with the average of results in the 10-30 g/t Ge range. In May 2025, the company intersected the highest-grade silver intercept in Ireland over the last 60 years (by any operator) and similarly, one of the highest-grade Cu intercepts:
- 19.9m of 1.46 percent copper and 356 g/t silver, including
- 6.4m of 3.72 percent copper and 838 g/t silver, including
- 0.9m of 5.73 percent copper and 1880 g/t silver and
- 0.8m of 10.45 percent copper and 1215 g/t silver
The discovery hole and subsequent intercepts have revealed thick zones of high-grade mineralization with significant step-out success, especially towards the northeast, where intensity in both grade and thickness continues to build. With three rigs currently active, a strong treasury, and three of four gravity-high anomalies yet to be drill-tested, Ballywire is emerging as a potential Tier 1 zinc discovery.
Carrickittle West – A Pallas Green Analogue
Beyond Ballywire, Group Eleven is also advancing the Carrickittle West prospect located just a few kilometres from the Pallas Green deposit and is interpreted to be a geological analogue located on the southern margin of the same volcanic complex.
The company is targeting a large-scale system similar to Pallas Green (which hosts an inferred 45 million tonnes at 8.4 percent zinc + lead). The nearby Stonepark deposit, also within Group Eleven’s portfolio, contains an inferred resource of 5.1 million tonnes at 11.3 percent zinc and lead, further validating the region’s prospectivity. Success at Carrickittle West would deliver substantial strategic synergy within the broader Limerick zinc district.
Key Board and Management
Daniel MacInnis - Chairman and Director
Daniel MacInnis is the former president and CEO of MAG Silver, where he led one of the industry’s most successful exploration teams, credited with major discoveries including the Juanicipio/Valdecañas silver veins and the Cinco de Mayo mantos in Mexico. With over 40 years of global mineral exploration experience, he has managed multi-million-dollar programs for companies such as Noranda, Battle Mountain/Hemlo Gold, and Sargold Resources. His work spans gold and base metal discoveries in North America, Mexico, and Ireland, with proven expertise in exploration strategy, property acquisition, joint ventures, and operations. MacInnis previously served as a director of MAG Silver and chair of Balmoral Resources. He holds a B.Sc. in Geology from Saint Francis Xavier University and is an accredited corporate director.
Bart Jaworski – Chief Executive Officer
Bart Jaworski, based in Ireland, has been the chief executive officer and a director of Group Eleven Resources since its incorporation in 2015. He has over 25 years’ experience in the mining industry, commencing his career as an exploration geologist for over six years, followed by 12 years as a mining analyst at Raymond James in Vancouver and then J & E Davy in Dublin. During his time as an exploration geologist, he was involved in properties located in Canada, Russia and Costa Rica, and was associated with the early stages of the Coffee Creek gold discovery in the Yukon. Jaworski has a Bachelor of Science (Hons) in Geology from the University of British Columbia.
Brendan Cahill - Director
Brendan Cahill is a director and former president and CEO of Excellon Resources (2012–2022), a silver producer with operations in Mexico. He previously held senior roles with the Pelangio group, where he was instrumental in the Pelangio-Detour Gold merger and the acquisition of the Manfo Project in Ghana, leading to multiple gold discoveries. A former M&A lawyer at Davies Ward Phillips & Vineberg LLP, he advised on transactions totaling over $15 billion. Cahill is a member of the Law Society of Ontario and the Transplant Cabinet at University Health Network.
Alessandro Bitelli - Director
Alessandro Bitelli brings over 30 years of experience in the resource industry and public accounting across North America and Europe. Most recently, he served as executive vice president and CFO of Lundin Gold until his retirement in March 2023. He previously held the role of CFO at Red Back Mining, where he played a key role in its growth until its $9.2 billion acquisition in 2010. Between 2010 and 2016, he held senior financial roles with several other mining companies. Bitelli currently serves as an independent director at Montage Gold.
Franz Bollmann - Director
Franz Bollmann is finance manager at Glencore Zinc and a director of Glencore Servicios Corporativos Spain, with a focus on financial strategy and business development across the Latin American region. Since joining Glencore in 2014, he has held roles spanning finance, commercial operations, and M&A, and previously served as a director of Volcan Compañía Minera. Earlier in his career, he worked in sales and trading at Raymond James in the United States. Bollmann holds a degree in Finance with a minor in Mathematics from the University of Arkansas.
Michael Gentile - Director
Michael Gentile is a leading strategic investor in the junior mining sector, with top-five stakes in over 20 small-cap mining companies. He serves as a director of Northern Superior Resources, OnGold, Radisson Mining, Roscan Gold, and Solstice Gold, and advises Northisle Copper and Gold. He is the co-founder of Bastion Asset Management, managing over $425 million in small- to mid-cap equities. Previously, he was VP and senior portfolio manager at Formula Growth (2002–2018).
Jeannine Webb - Chief Financial Officer
Jeannine Webb is a Vancouver-based Chartered Professional Accountant with over 25 years of experience in the resource sector, specializing in financial leadership for mineral exploration companies. She currently serves as CFO of Northern Superior Resources Inc. and Abacus Mining & Exploration Corporation. Previously, she held CFO roles across multiple public and private exploration companies through Badger & Co. Management Corp., a provider of integrated financial, corporate, and geological management services.
David Furlong - Chief Operating Officer
David Furlong is a co-founding Director of Group Eleven Resources and currently serves as the company’s Chief Operating Officer, bringing over 22 years of experience in mineral exploration. From 2007 to 2014, he was general manager for projects at Rathdowney Resources, where he led exploration strategy and project execution. He specializes in the design and management of exploration programs across a range of deposit types. Furlong holds a B.Sc. (Hons) in Exploration and Mining Geology from the University of Wales and is a Professional Geologist (P.Geo) with the Institute of Geologists of Ireland.
Dr. Mark Holdstock - Project Manager
Mark Holdstock is a professional geologist with over 30 years of exploration experience, including roles with Noranda, Billiton, Outokumpu, Boliden, and Tara Mines. While at Tara, he led the discovery of the 20+ Mt SWEX extension to the world-class Navan Zn-Pb deposit in Ireland. An expert in carbonate-hosted zinc systems, he has authored several academic papers on the subject. Most recently, he served as managing director of Aurum Exploration Services in Ireland from 2005 until joining Group Eleven.
More Drilling on Globex's Battery Hill Manganese Royalty Property
GLOBEX MINING ENTERPRISES INC. (GMX Toronto Stock Exchange, G1MN Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exch anges and GLBXF OTCQX International in the US) is pleased to update shareholders as regards drill results reported by Manganese X Energy Corp. (MN-TSXV, 9SC-FSE, MNXXF-OTCQB) on Globex's 1% Gross Metal Royalty, Battery Hill manganese property in New Brunswick. Globex also is a very large shareholder in Electric Royalties (ELEC-TSXV) that holds a 2% Gross Metal Royalty as the property. Manganese X has reported 12 new drill holes totalling 1,393 metres in the Moody Hill and Sharpe Farm sectors of the property which are in addition to the 93 previous drill holes. Intersections up to 72.6 metres (238 feet) are reported.
Key Highlights
- SF24-96 : 12.5m @ 13.62% MnO from 41.5m and 13.3m @ 14.9% MnO
- SF24-98 : 72.6m @ 11.29% MnO from 11m, including 42.1m @ 13.3% MnO
- SF24-99 : 32m @ 15.7% MnO from 5m
- SF24-101 : 16m @ 13% MnO from 8m, and 51.5m @ 12.57% MnO from 136m
- SF24-102 : 24.2m @ 9.3% MnO from 6.8m, 16.8m @ 10.89% MnO from 53.4m, and 35.6m @ 14.6% MnO from 87.2m
- SF24-103 : 32m @ 11.6% MnO from 27m
- SF24-105 : 20.2m @ 11.2% MnO from 81m
All drill holes were inclined at -45 degrees , with true thickness estimated at 65-80% of the reported core lengths. Core logging and sampling followed industry-standard protocols, including a QA/QC program with Certified Standards, blanks, and duplicates, comprising 5% of total samples. Sample intervals averaged 2 metres.
Initial half-core samples were collected by Company personnel and sent to the Actlabs prep lab in Fredericton, New Brunswick, before being forwarded to Actlabs in Ancaster, Ontario, for XRF-Fusion Whole Rock Analysis (Code 4C). Actlabs is an accredited laboratory.
Manganese X's news release was reviewed and approved by Perry MacKinnon, P. Geo., Vice President of Exploration for Manganese X, and a Qualified Person under NI 43-101 guidelines for mineral project disclosure.
The holes were focused on infill and expansion drilling to upgrade Inferred resources to Measured and Indicated categories supporting an upcoming NI 43-101 compliant Pre-Feasibility Study currently underway by Mercator Geosciences. The Manganese X Energy Corp. press release is available on the Manganese X website .
Considering the current worldwide economic situation and the need for Canada to source its own critical minerals both for domestic use and export, the Battery Hill manganese deposit is well positioned for the future.
The Manganese X mission as stated "is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in Canada and the US to commercialize EV Compliant High Purity Manganese, potentially supplying the North American supply chain. The Company intends on supplying value-added materials to the lithium-ion battery and other alternative energy industries, as well as striving to achieve new carbon-friendly more efficient methodologies, while processing manganese at a lower competitive cost."
Completed Drilling Program – Manganese X Energy Corp .
This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
| We Seek Safe Harbour. | Foreign Private Issuer 12g3 – 2(b) |
| CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95 | |
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14 th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com |
Forward-Looking Statements: Except for historical information, this news release may contain certain "forward-looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. ("Globex"). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the "Annual Information Form" filed by Globex on SEDARplus.ca
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