NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that the Company has reached an agreement (the "Amendment") to amend the terms of the exploration and mining lease agreement dated June 21, 2021 between the Company's wholly-owned subsidiary, NV Gold Corporation (USA), Inc. ("NV Gold USA") and the owners of the Triple T property, pursuant to which the Company has the exclusive right to explore on and evaluate the Triple T Property in Pershing County, Nevada (the "Agreement"). Pursuant to the Amendment, the Company has agreed to issue an aggregate of 100,000 common shares of the Company (the "Payment Shares") at a price of C$0.30 per Payment Share to settle an annual payment of US$30,000 payable by NV Gold USA under the Agreement
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NV Gold Corporation Announces AGM Results
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) (“NV Gold” or the “Company”) is pleased to to report that all matters were approved at the Company’s annual general shareholders meeting (the “Meeting”) held on February 2, 2023. At the Meeting the Company’s shareholders (i) re-elected all of the Company’s current board of directors (the “Board”), Howard Golden, John Kerr, John Seaberg, Alfred Stewart and John E. Watson; (ii) approved the re-appointment of the Company’s current auditor, Davidson & Company LLP; (iii) approved and authorized the Board to fix the remuneration of the auditor; and (iv) approved the adoption of the Company’s new amended and restated 10% rolling stock option plan in accordance with the requirements of the TSX Venture Exchange.
About NV Gold Corporation
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-organized and well-financed exploration company with ~80 million shares issued and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2023 promises to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Seaberg, Director, and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact
Freeform Communications at 604.245.0054
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.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and statements that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
NV Gold Announces Amended Triple T Property Lease Agreement
The issuance of the Payment Shares is subject to TSX Venture Exchange approval. The Payment Shares will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities legislation.
About NV Gold Corporation
NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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.
Cautionary Statements Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, the Amendment and issuance of the Payment Shares. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will receive the necessary regulatory approval of the Amendment and issuance of the Payment Shares.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the necessary regulatory approval of the Amendment and issuance of the Payment Shares.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE:NV Gold Corporation
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NV Gold Corporation Reports Strong Surface Samples, 5440 g/t Ag and 1.26% Cu, and 14.4 g/t Au at Root Spring Project in Nevada
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to report promising gold, silver, and copper values from rock chip sampling at its 100%-owned Root Spring Gold Project in Pershing County, Nevada. Two new samples with up to 14.4 gt gold (0.463 ounces per ton (opt)) accompanied by high silver values reaching 5440 gt (175 opt) and 1.26% copper These samples eclipse the historical high-grade samples and the Company plans to reevaluate the Property for a potentially larger and higher-grade target
John Watson, Interim CEO commented, "These recent encouraging samples were collected in one of the limited bedrock exposures on the property. They clearly support the strength of a strong precious metals system and encourage additional exploration of the property. The Company is evaluating the possibility of a genetic link to our nearby Triple T project."
About the Root Spring Gold Property
The project is situated 28 kilometers east of the Rochester silver-gold operation and 21 kilometers east of NV Gold's Triple T gold project (see Figure 1, 2 & 3).
The Property consists of 26 mining lode claims (520 acres). The property was acquired from Redstar Gold in 2016 as part of a larger transaction.
The project contains an epithermal/mesothermal silver-gold quartz vein system exposed at the edge of a large alluvial-covered valley. Mineralization is hosted in the Triassic Koipato volcanics. The Koipato hosts the Rochester Ag-Au deposit as well as the Spring Valley gold deposit 27 km west of Root Spring.
The quartz vein system is exposed for at least 1.2 km along a northwest strike, with individual veins to 5m thick. Extensions of the veins along strike as well as surrounding country rock are concealed by alluvial cover within a northwest-trending alluvial-filled valley corridor along a range front. Like the Rochester deposit to the west, the Root Spring Au-Ag system is adjacent to a Triassic granitic pluton.
Historical surface rock-chip gold values in veins reached 9.36 g/t gold (0.273 opt) accompanied by high silver reaching 1500 g/t (44 opt). The veins are surrounded by widespread, locally mineralized quartz-sericite-pyrite alteration of the host felsic volcanic sequence recognized from earlier shallow drilling.
The project exploration approach is in keeping with the Company's vision of discovery potential beneath Great Basin gravel cover.
A limited first-phase drilling program in 2012, consisting of eighteen core holes totaling 1,232.31 m, intersected Au-Ag mineralization down-dip of exposed veins, however, drilling was very shallow (68 m average length
Results included 11.9 m grading 13.8 g/t Ag and 0.17 g/t Au, 10.7 m grading 17.23 g/t Ag and 0.14 g/t Au and 9.3 m grading 16.47 g/t Ag and 0.53 g/t Au (see Figure 2).
Thomas Klein, VP Exploration stated, "I am excited about recent gold, silver, and copper results from our Root Spring project. It is encouraging to have verified historical high-grade values on the Property, which is an indication of a potentially strong and large mineralizing system below the thin alluvial cover. NV Gold is planning to further evaluate the Property and surrounding area to test and identify a possible genetic link with other gold-silver occurrences within the region, including Triple T and Rochester. Ongoing work programs will include re-mapping and more detailed rock chip sampling of the Property."
About NV Gold Corporation
NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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.
Figure 1. Location of the Root Spring project with respect to other gold and silver deposits of the region.
Figure 2. Historical sampling and drilling at Root Spring and location of recent high-grade samples (left side is gold in g/t,and right side is silver in g/t).
Figure 3. Outline of potential target areas for covered silver-gold mineralization along the Rochester-Triple T-Root Spring corridor.
SOURCE: NV Gold Corporation
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NV Gold Announces Secured Loan Terms
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that that it has entered into (i) a secured loan agreement with John Watson (the "Lender") pursuant to which the Lender provided a loan to the Company in the principal amount of US$50,000 (the "Secured Loan") and (ii) a share pledge agreement with the Lender, which secures an aggregate principal amount of US$400,000 in loans provided to the Company by the Lender to date, as described herein
The Company previously entered into loan agreements with the Lender on June 26, 2023, July 10, 2023, September 18, 2023 and January 22, 2024, pursuant to which the Lender provided the Company with loans in the aggregate principal amount of US$350,000 (the "Prior Loans" and together with the Secured Loan, the "Loans").
Each of the Loans bears interest at a rate of 12% per annum, compounded annually, and have a maturity date which is the earlier of one year from the effective date of the applicable loan agreement and the date the Lender demands repayment of the applicable Loan.
As security for the aggregate principal amount of the Loans and the Company's performance under each loan agreement, the Company and the Lender entered into a share pledge agreement. Pursuant to the share pledge agreement, the Company pledged to the Lender all of the issued and outstanding common shares of NV Gold Corporation (USA), Inc. (the "NV Gold USA"), a wholly-owned subsidiary of the Company, which holds the Company's mineral projects and lease agreements in the United States.
Multilateral Instrument 61-101
The issuance of the Loans and entering into of the share pledge agreement are each a "related party transaction" under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the Lender is an insider of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(f) of MI 61-101 on the basis that the transactions did not exceed 25% of the fair market value of the Company's market capitalization and the Loans are on reasonable commercial terms that are not less advantageous to the Company than if the Loans were obtained from a person dealing at arm's length with the Company. The Company did not file a material change report more than 21 days before the entering into of the share pledge agreement as the terms of the share pledge agreement were not settled until shortly prior to execution and the Company and the parties wished to close the share pledge agreement on an expedited basis for sound business reasons.
Stock Option Grant
Effective April 19, 2024 the Company granted an aggregate of 420,000 stock options to certain directors, officers and employees of the Company at a price of $0.29 per share for a period of five years. The options are subject to regulatory approval and are granted under the Company's stock option plan.
About NV Gold Corporation
NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totalling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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.
SOURCE: NV Gold Corporation
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NV Gold Announces Effective Date of Share Consolidation
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that, further to the Company's press release on February 13, 2024, it is proceeding with a consolidation of the issued and outstanding common shares of the Company (the "Shares") on the basis of (1) post-consolidated Share for every ten (10) pre-consolidated Shares (the "Consolidation"). No fractional shares will be issued as any fractional share will be rounded to the nearest whole number. The new CUSIP number will be 67090W307 and the new ISIN number will be CA67090W3075. The Company's name and stock symbol will remain unchanged following the Consolidation
The Consolidation will be effective at the opening of markets on February 28, 2024. As a result of the Consolidation, the 88,745,454 Shares which are currently issued and outstanding will be reduced to approximately 8,874,545 Shares, subject to rounding. The Consolidation is subject to final confirmation by the TSX Venture Exchange.
Shareholders who hold their Shares through a securities broker or other intermediary and do not have Shares registered in their name will not be required to take any measures with respect to the Consolidation. Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated Shares to the Company's transfer agent, Odyssey Trust Company, will receive a certificate representing the post-consolidated Shares.
About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company with ~89 million shares issued and no debt. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles) The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the effective date of the Consolidation; the number of Shares outstanding following the Consolidation; and the treatment of fractional shares in the Consolidation.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, the number of post-Consolidation Shares being different from the number set out herein and the treatment of fractional Shares in the Consolidation being different from what is set out herein, and that the Company will complete the Consolidation on the anticipated effective date.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will be unable to complete the Consolidation on the expected effective date; that the treatment of fractional shares will differ for the treatment set out herein; and that the number of issued and outstanding shares following the Consolidation will differ for the number statement herein. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE:NV Gold Corporation
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NV Gold To Consolidate Common Shares
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that it intends to consolidate of all of the issued and outstanding common shares of the Company (the "Shares") on the basis of one (1) post-consolidated Share for every ten (10) pre-consolidated Shares held (the "Consolidation"), subject to approval of the TSX Venture Exchange (the "Exchange
The effective date of the Consolidation will be announced in a separate news release once the Company receives approval from the Exchange. As a result of the Consolidation, it is expected that the 88,745,454 Shares which are currently issued and outstanding will be reduced to approximately 8,874,545 Shares, subject to rounding. No fractional Shares will be issued as a result of the Consolidation. Any fractional share interest of 0.5 or higher arising from the Consolidation will be rounded up to one whole Share, and any fractional share interest of less than 0.5 will be cancelled. The Company's name and stock symbols will remain unchanged following the Consolidation.
In accordance with the Articles of the Company, the Consolidation may be approved by the board of directors of the Company and shareholder approval is not required.
Shareholders who hold their Shares through a securities broker or other intermediary and do not have Shares registered in their name will not be required to take any measures with respect to the Consolidation. Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated Shares to the Company's transfer agent, Odyssey Trust Company, will receive a certificate representing the post-consolidated Shares.
The Company believes that the Consolidation may have the effect of, among other things: increasing the interest of the financial community in the Company and potentially broadening its pool of investors; improving trading liquidity; and improving the Company's position to obtain financing and pursue new opportunities.
About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company with ~89 million shares issued and no debt. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles) The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Waton, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the expectation that the Company will proceed with the Consolidation; the number of Shares outstanding following the Consolidation; the effect of the Consolidation on the market for the Shares; the impact the Consolidation will have on the Company; and the treatment of fractional shares in the Consolidation.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will complete the Consolidation; that the Company will receive the necessary approvals to complete the Consolidation; that the number of Shares outstanding following the Consolidation will be consistent with the number set out herein; that the Consolidation will impact the Company as anticipated; and that the treatment of fractional shares will align with management's current expectations.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will be unable to complete the Consolidation; that the Company will not receive the necessary approvals to complete the Consolidation; that the treatment of fractional shares will differ for the treatment set out herein; that the Consolidation will not have the desired impact on the Company; and that the number of issued and outstanding shares following the Consolidation will differ for the number statement herein. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE:NV Gold Corporation
View the original press release on accesswire.com
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Acquisition of a Portfolio of Highly Prospective Antimony and Gold Projects that Surround Larvotto's High-Grade Project, NSW
Thunderbird Resources Limited(Thunderbird or the Company) (ASX: THB) is pleased to advise that it has entered into an agreement to acquire a highly prospective antimony and gold exploration land package in the New England Orogen of New South Wales. The high-potential exploration portfolio is located immediately adjacent to Australia’s largest antimony deposit, the Hillgrove Gold & Antimony Project owned by Larvotto Resources (ASX: LRV) (LRV) (Figures 1 and 2).
Highlights
- Thunderbird enters into binding agreement to acquire a 100% interest in a highly prospective 488km2 exploration portfolio surrounding the Hillgrove Gold-Antimony project, a Top-10 global antimony deposit.
- The package, comprising EL9053 and EL9147, including sampling grades of up to 18.2%3 antimony and 76g/t gold4, sits in the heart of the New England Orogen of NSW, which is currently undergoing a major exploration renaissance.
- EL9053, known as the Rockvale Project, covers potential strike extensions of the gold-antimony mineralisation at Hillgrove and encompasses multiple known gold and antimony occurrences, including numerous high-grade historical workings.
- EL9053 adjoins Larvotto Resources’ (ASX: LRV) Hillgrove Gold & Antimony Project, the largest antimony deposit in Australia, with a Mineral Resource of 7.3Mt @ 4.4g/t Au and 1.3% Sb for 1.04Moz of contained gold and 93kt of contained antimony1,2.
- EL9147, known as the Kookabookra Gold Project, covers multiple gold reefs in the historical high-grade Kookabookra gold field.
- Both Projects are considered highly prospective for the discovery of high-grade orogenic gold +/- antimony mineralisation and intrusion-related gold mineralisation.
- The proposed acquisition provides a low-cost opportunity to explore high-quality assets that offer exposure to very favourable commodities, with the ability to explore and generate newsflow during the northern hemisphere winter when Thunderbird’s Canadian assets are less accessible.
- Antimony is a critical metal used for producing high-tech and defence products, including flame retardant materials, semiconductors and superhard materials. Antimony prices have been rising strongly since China, which dominates global supply, imposed export restrictions earlier this year.
Figure 1: Map showing location of EL9053 (Rockvale) and EL9147(Kookabookra) (shown in red outline).
Thunderbird has entered into a binding share purchase agreement with the shareholders of Kooky Resources Pty Ltd (Kooky Resources) to acquire all the issued share capital of Kooky Resources (Proposed Acquisition).
Kooky Resources holds a 100% interest in exploration licences EL9053 and EL9147, which offer strong prospectivity for high-grade antimony and gold mineralisation.
EL9053 lies directly adjacent to the Hillgrove Gold & Antimony Project held by LRV, which represents the largest antimony deposit in Australia with a Mineral Resource of 7.3Mt @ 4.4g/t Au and 1.3% Sb for 1.04Moz of contained gold and 93kt of contained antimony.
The Hillgrove Gold & Antimony Project is currently being redeveloped by LRV and already has most of the surface infrastructure in place, including the process plant, power, roads, decline and substantial underground development. Leveraging this existing infrastructure, LRV recently announced a positive pre-feasibility study, targeting first ore production by early 20261.
EL9053 covers potential strike extensions of the geology and structures that host the antimony-gold mineralisation at Hillgrove.
Numerous historical prospects and occurrences are reported within EL9053 with sampling grades of up to 18.2%3 antimony and 76g/t4 gold reported. Despite the number of historical gold and antimony occurrences the area has had minimal modern exploration or drilling since the 1980s.
EL9047 covers the historical Kookabookra gold field, which has seen virtually no modern exploration, with multiple gold occurrences and potential for both orogenic gold +/-antimony mineralisation and intrusion related gold mineralisation.
This article includes content from Thunderbird Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
$2.5M Capital Raise to Advance Gold Exploration at Leinster South
Metal Hawk Limited (ASX: MHK, “Metal Hawk” or the “Company”) is pleased to announce that it has received firm commitments from sophisticated investors to raise A$2.5 million (before costs) by way of placement (the “Placement”). The majority of the placement was completed by the Company’s existing major shareholders.
Highlights:
- Firm commitments received to raise $2.5 million (before costs) at $0.20 per share via a placement to existing shareholders.
- This represents a 2.5% discount to the last closing price of $0.205.
- Metal Hawk is now well-funded to advance gold exploration at Leinster South as it heads towards an extensive maiden drilling program.
Directors have agreed to subscribe for $60,000 of Placement shares, subject to shareholder approval, which will be sought at a General Meeting (GM).
Proceeds from the Placement will be used to fund gold exploration activities including the maiden drilling program at the Leinster South Project in Western Australia.
Placement Details
The Placement will comprise a total of 12,500,000 new fully paid ordinary shares (“New Shares”) at an issue price of $0.20 per New Share. 12,200,000 New Shares are to be issued pursuant to the Company’s placement capacity under ASX Listing Rules 7.1. A further 300,000 New Shares will be subscribed for by Metal Hawk Directors, William Belbin, David Pennock and Michael Edwards (or with their related entities), subject to shareholder approval.
Completion of the Placement is expected to occur on or around 18 November 2024.
The Placement issue price of A$0.20 per New Share represents; a 2.5% discount to the closing price of Metal Hawk shares of A$0.205 on 11 November 2024 (being the last trading day prior to the Placement); and a 6% premium to the 5-day VWAP prior to the Placement.
Metal Hawk Managing Director Will Belbin commented: “We are very pleased with the strong level of support from shareholders. This is a very exciting period for the Company as we work towards the maiden drilling program at Leinster South.”
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This article includes content from Metal Hawk Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
RC Drilling Commenced at Montague Gold Project
Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce the commencement of its inaugural drilling program at the recently acquired1 Montague East Gold Project (Montague), located 70km north of Sandstone in Western Australia’s Murchison region.
HIGHLIGHTS
- Brightstar has commenced a ~6,000m Reverse Circulation drilling program at the Montague East Gold Project, targeting depth extensions and infill resource drilling at the Montague-Boulder and Whistler deposits
- Montague-Boulder and Whistler are the largest two deposits at Montague, with a combined gold resource of 4.7Mt at 1.8g/t Au for 283koz Au
- The program will take approximately four weeks to complete, before mobilising the drill rig to complete a planned drilling program at Alto’s Sandstone Project upon anticipated merger completion in December
- Brightstar has also executed a Heritage Protection Agreement between Watarra Aboriginal Corporation and Brightstar Resources over the Menzies Gold Project
With past production in the 1990’s at several deposits across Montague, modern exploration has defined a global resource of 526koz Au which includes a considerable component of shallow oxide material2 which is being targeted for resource growth and preliminary drilling ahead of feasibility study workstreams which are planned to occur during 2025.
Brightstar’s Managing Director, Alex Rovira, commented“With the recent completion of our significant drilling programs across our Goldfields assets in Menzies and Laverton, our exploration efforts are now focused on the Murchison assets located in the Sandstone region. With a +500koz gold endowment across the Montague East Gold Project, we look forward to targeting the largest two deposits which include the 163koz Au Montague-Boulder deposit, and the 120koz Au Whistler deposit.
We believe these assets have a strong possibility of resource growth, and our drill programs are targeting lode extensions at depth and also infilling key areas to provide additional geological information on these deposits to increase mineral resource classification confidence. With a past production of ~150koz, the Montague East Gold Project is a key part of our Sandstone consolidation strategy and our broader aspirations of building a multi-asset and meaningful WA gold mining business.”
Figure 1 - Planned RC Drilling at the Whistler and Montague-Boulder Deposits
Figure 2 – RC Drill Rig at Whistler
Next steps
Brightstar will announce drilling information and assays as this is received, including the outstanding results from the Fish and Lord Byron diamond drilling programs along with RC drilling from the Montague program.
Concurrently with these drilling programs, work continues on the Definitive Feasibility Study and near-term development of mining operations at the Jasper Hills deposit.
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This article includes content from Brightstar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Phillips Find Mining Update
Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to provide an update on the development of the Phillips Find Gold Project (“Phillips Find”).
HIGHLIGHTS
- Joint Venture (JV) Agreement in place with mining specialists BML Ventures Pty Limited (BML) to develop and mine two open pits at Phillips Find 1
- All management, technical, operational and maintenance roles to be undertaken by BML with oversight by the Company
- Low financial risk JV structure with BML to fund all project costs, with net cashflow after the asset recovery and repayment of costs to be split 50/50 between Horizon and BML
- Mobilisation and site establishment completed, inclusive of camp, offices, communications and workshop established with all required fixed and mobile equipment on site
- Site fully manned up on both day and night shift
- Mine plan involves cutbacks to two existing open pits, Newhaven and Newminster
- Mining well advanced, with over 160,000 BCMs (Bank Cubic Metres) of pre-strip waste mined to date with first ore due to be exposed in December 2024.
- Existing 200kt Toll Milling Agreement executed with FMR Investments Pty Ltd (FMR) in May 2024 to be utilised for Phillips Find JV ore 3
- First ore from Phillips Find on track to be treated at FMR’s Greenfields mill from February 2025 to June 2025 4
Commenting on the mining progress, Managing Director and CEO Mr Grant Haywood said: 2
“We are very pleased to see the progress made at our Phillips Find project with great progress made on the mining to date. We look forward to commencing the grade control program early in December and the first mining of ore occurring in December 2024.
With first gold production from our Boorara gold project expected in the current quarter, the progress at Phillips Find leaves us well positioned to make strong cashflows in this high gold price environment.”
Overview
Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to provide an update on the development of the Phillips Find Gold Project. The 100% owned Phillips Find project is located 45km north-west of Coolgardie in the heart of the Western Australian Goldfields (Figure 1).
Figure 1: Horizon’s project locations, regional geology and surrounding infrastructure
Next Steps 1
Mining at Newhaven is well advanced with pre-strip of the Newminster pit to commence shortly creating two working areas for the mining fleet. Due to the nature of the cutbacks of two existing open pits, mining is predominantly in waste whilst progressing deeper to access the ore. Grade control drilling is planned to commence in early December 2024. Ore stockpiles will be developed over the coming months, with processing of ore on track to occur through February to June 2025.
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This article includes content from Horizon Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Ashburton Drilling Programme Delivers Further Significant Uranium Intersections
Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”) is pleased to announce the final results from its recently completed reverse circulation and diamond drilling programme at the Ashburton uranium project in Western Australia.
HIGHLIGHTS
- The final hole of the Ashburton drilling programme, ADD006 has returned additional high grade uranium results and include:
- 1.32m @ 792 ppm eU3O8 from 86.52m
- 7.86m @ 2,266 ppm eU3O8 from 105.42m incl. 3.62m @ 3,763 ppm eU3O8 from 105.76m
- 3.22m @ 617 ppm eU3O8 from 116.58m
- 3.33m @ 1,394 ppm eU3O8 from 132.38m
- The drilling programme has been successfully completed with a combined total of 3,082.8m of reverse circulation and diamond drilling.
- The drilling programme has exceeded expectations, achieving all primary objectives.
- A comprehensive geological interpretation incorporating both current and historical drill data will be completed ahead of the next phase of drilling.
The drilling campaign has successfully met all objectives, confirming historical results, testing a revised structural model for mineralisation, and identifying opportunities for expanding the known mineralisation. The results to date have exceeded expectation.
Drilling Overview: the drilling programme involved the completion of 19 holes, with a combined total of 3,082.8 metres (1,776 meters of reverse circulation and 1,306.8 meters of diamond drilling). Full results for all drill holes are presented in Table 1, with drill hole details in Table 2. Drill hole locations can be seen on Figure 1 & 2.
Notable Mineralisation Intersections: A number of drill holes intersected high-grade uranium mineralisation, with the final hole, ADD006, returning particularly notable results. These intersections include relatively flat lying uranium mineralisation above, below and along the unconformity between the mid Proterozoic sandstones, conglomerates and the lower Proterozoic basement complex. Additionally, steeply dipping zones of uranium mineralisation were identified beneath the unconformity, highlighting promising targets for future exploration.
Structural and Geological Insights: Preliminary structural analyses suggest that mineralisation may be controlled by northwest-oriented faults. The mineralisation appears continuous along strike, with one intersection showing widths exceeding 39 meters, however, further drilling is needed to assess the extent and continuity of this mineralisation.
Drilling has confirmed the presence of mineralisation at the unconformity, also within the overlying sandstone and the underlying basement complex. This provides strong evidence to significantly expand the mineralised zone.
Next Steps: With this programme now complete, Piche plans to update its geological model for Angelo A and B prospects and review how these results relate to the broader Ashburton tenement package. This review will include the Atlantis prospect, 50 km SE of Angelo, which historically returned intersections of 5.5m at 6,200ppm and 2.2m at 7,400ppm U3O8. These results were not followed up in the 1980’s due to a $12.00 per lb uranium price, however, in the current $77.00 per lb price, Piche will be exploring here in the near future.
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This article includes content from Piche Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Xatśūll First Nation Calls for Halt to Osisko Development's Cariboo Gold Project
The Xatśūll First Nation is calling for a halt to the Cariboo gold project in Central BC, Canada, citing unresolved environmental, economic and cultural concerns related to the proposed mine.
Owned by Osisko Development (TSX:OSK,OTC Pink:OBNNF), Cariboo is located within a historically significant mining region, but also overlaps the territory of several First Nations, including that of the Xatśūll.
Xatśūll Chief Rhonda Phillips has emphasized that while the First Nation has engaged in discussions in good faith, it cannot endorse the project without acknowledgment of Indigenous title and decision-making authority.
“Xatśūll has acted in good faith in our discussions, and we will not stand down until we are treated respectfully as partners and acknowledged as Aboriginal title holders and decision-makers in relation to the Project, as we rightfully should be,” she said in a press release shared on November 7.
Phillips also highlighted the importance of developing a consent-based framework, stressing the necessity of respecting Indigenous rights as stipulated in both the Declaration on the Rights of Indigenous Peoples Act and the United Nations Declaration on the Rights of Indigenous Peoples.
If such terms are not satisfactorily met, Osisko risks facing legal action from the First Nation.
Cariboo, which is situated within the Wells-Barkerville region, is anticipated to create nearly 500 jobs and yield about 1.87 million ounces of gold over its expected lifespan of 12 years.
While Osisko obtained an environmental assessment certificate in October 2023, allowing the project to proceed with specific conditions, the Xatśūll First Nation has expressed that the certificate was issued without its consent.
The community’s concerns extend to specific environmental and health risks, including the project’s potential impact on the threatened Barkerville Woodland caribou herd, air quality and the contamination of food and water sources.
Phillips pointed to the 2014 Mount Polley mine disaster, where a tailings spill affected local waterways, as an example of the long-term impact of mining projects on Indigenous lands. She further stated that Cariboo should be subject to a more stringent regulatory framework, with Indigenous consent at the core of any development in Xatśūll territory.
Osisko maintains that it has taken significant steps to address Indigenous concerns and integrate community input.
The company pointed to a robust consultation process that included approximately 1,800 comments from various Indigenous communities; these were reviewed and addressed as part of the permitting process.
In a November 7 statement, Chairman and CEO Sean Roosen noted that the company has focused on establishing economic and environmental partnerships with affected Indigenous nations. He cited financial benefits similar to those accepted by other Indigenous groups, such as the Lhtako Dené Nation and Williams Lake First Nation.
“Our efforts have focused on providing meaningful benefits to all Indigenous nations, whilst ensuring the project remains viable,” he maintained, also saying that the company remains open to ongoing dialogue with the Xatśūll.
The Lhtako Dené Nation has since expressed support for Cariboo. According to representatives, its stewardship efforts with Osisko have already led to positive initiatives, such as caribou tracking and salmon restoration programs.
Government officials, meanwhile, have acknowledged the need to balance economic development with environmental and Indigenous rights. BC's Ministry of Energy, Mines and Low Carbon Innovation said the province is engaging with the Xatśūll First Nation on resource projects within its territory and is committed to “timely statutory decision-making.”
Cariboo is nearing the final permitting stage, with a decision anticipated by the end of 2024.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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