Opawica Exploration (TSXV:OPW) is a Vancouver-based junior exploration company exploring and developing precious metal properties in Canada. Opawica's flagship properties — Arrowhead, Bazooka and McWatters — are situated in the Abitibi Greenstone Belt, one of the most prolific gold-producing regions in the world. These projects benefit from exceptional geological potential and established mining infrastructure adjacent to some of the world’s largest gold producers.
The Bazooka gold project spans 1,200 hectares along 7 km of the Cadillac-Larder Lake Break in Quebec. It is contiguous with Yamana Gold’s Wasamac property and Yorbeau Resources’ Rouyn property. Located near operational gold mines, the property has excellent access to roads, power and water, facilitating year-round exploration.
Key ProjectsGold mineralization at the Bazooka project is associated with quartz-carbonate-sericite and talc-chlorite schists within sedimentary and ultramafic to mafic volcanic rocks. The Main Zone features significant silicification and visible free gold.
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A junior among the giants, Opawica Exploration’s strategic geographical advantage in the resource-rich Abitibi Greenstone Belt makes it a compelling investment opportunity.
Opawica Exploration (TSXV:OPW) is a Vancouver-based junior gold exploration company engaged in exploring and developing precious metal properties in Canada. Its flagship properties — Arrowhead, Bazooka and McWatters — are situated in the Abitibi Greenstone Belt, one of the most prolific gold-producing regions in the world. These projects, adjacent to some of the world’s largest gold producers, benefit from exceptional geological potential and established mining infrastructure.
Opawica is committed to sustainable and efficient exploration, utilizing advanced geological modeling and modern technologies to unlock the potential of its projects. Led by a highly experienced management team, Opawica is well-placed to become a pioneer in the next Canadian gold rush.
Located in Canada’s highly prolific Abitibi Greenstone Belt, Bazooka spans approximately 1,200 hectares along 7 km of the Cadillac-Larder Lake Break in Quebec. It is contiguous with Yamana Gold’s Wasamac property and Yorbeau Resources’ Rouyn property. Located near operational gold mines, the property has excellent access to roads, power and water, facilitating year-round exploration.
Gold mineralization at the Bazooka project is associated with quartz-carbonate-sericite and talc-chlorite schists within sedimentary and ultramafic to mafic volcanic rocks. The Main Zone features significant silicification and visible free gold.
Historical exploration efforts on the Bazooka property include development of a 125-meter shaft and 634 meters of drifts in the 1950s by Eldona Gold Mines, and subsequent drilling campaigns by Lake Shore Gold and RT Minerals, which reported highlights such as 316.23 grams per ton (g/t) gold over 1 meter and 7.8 g/t gold over 17 meters.
Bazooka gold mineralization
Recent exploration work at Bazooka includes advanced 3D structural modeling and AI-driven target generation alongside multi-parameter airborne survey system (M-PASS) surveys. These efforts identified high-priority targets, culminating in the refinement of a robust geological model.
Going forward the company plans to complete approximately 10,000 meters of drilling across high-priority zones, focusing on resource delineation and advancing towards an economic assessment.
The Arrowhead project is located in the Abitibi Greenstone Belt, surrounded by Agnico Eagle Mines’ holdings and near IAMGOLD’s Mouska Mine. Its proximity to established mines ensures access to robust infrastructure, including transportation networks and utility services, supporting efficient exploration efforts.
The asset hosts gold-rich volcanogenic massive sulphide (VMS) deposits, polymetallic veins, and quartz-carbonate auriferous veins. Historical exploration at Arrowhead identified 40 mineralized zones through drilling, alongside geochemical surveys that revealed VMS-style signatures and strong potential for gold mineralization.
A 2022 drill program consisting of 14 holes totaling 4,306 meters confirmed historical mineralization trends and extended gold anomalies. The integration of AI-driven geological modeling by ALS GoldSpot Discoveries further enhanced target generation for future drilling.
The company plans to initiate an exploration campaign on 25 permitted high-priority targets, aiming to validate and expand existing mineralized zones and progress the property towards resource estimation.
Located along the Cadillac Fault Zone, adjacent to Yorbeau Resources’ Astoria Mine, the McWatters project benefits from a strategic location within a developed mining district, ensuring access to established roads, power and water infrastructure, facilitating logistical efficiency for exploration activities.
Mineralization at the McWatters property includes visible gold in quartz veins within deformation zones. Historical assays include 7.89 g/t gold over 3.05 meters. Limited historical exploration on McWatters identified multiple gold showings and promising drill intercepts, supported by geochemical and MMI studies that provide a foundation for further work.
Structural lineament interpretations and geological updates were conducted alongside advanced surveys to prioritize drill targets. Modern geophysical methods have identified several untested zones with strong mineralization potential.
Blake Morgan has more than 15 years’ experience in capital markets, specializing in fundraising, IPOs and corporate development. He has successfully led companies through public offerings and raised significant capital for both private and public ventures. Previously, he held senior positions with Rio Tinto, BHP and Santos.
A CPA, CGA with over 15 years of expertise in public markets, Marcy Kiesman brings a combination of strategic financial planning, operational oversight and leadership, ensuring fiscal discipline and efficiency.
Philippe Harvard has more than a decade of experience in mineral exploration and entrepreneurship. As a principal of Investissements Gema, he has successfully acquired and developed mineral properties in Quebec. He is also the president of TelKel, an independent telecommunications company, and Cubicule Studio, a software engineering firm.
With 20 years of experience in financial markets and management consulting, Owen King has worked with public companies to assist in capital raises and business development. His expertise includes implementing quality management systems and fostering venture capital financing initiatives.
Advancing high-potential gold assets in the prolific Abitibi Greenstone Belt
(TheNewswire)
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March 14 th 2025 TheNewswire - Vancouver, Canada – Opawica Explorations Inc. (the "Company" or "Opawica") (TSXV: OPW) (OTCQB: OPWEF), a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce that it intends to complete a non-brokered Private Placement (the "Private Placement") of up to 1,500,000 units of the Company ("Units") at a price of $0.20 per Unit for aggregate gross proceeds of up to $300,000.
Each Unit will consist of one common share of the Company and one Common Share purchase Warrant, with each Warrant exercisable into one Common Share at an exercise price of $0.30 per share at any time up to 24 months following the closing date of the Private Placement. The Company also maintains a Warrant Acceleration option allowing Opawica to accelerate the expiry date of the Warrants if the daily trading price of the Common Shares on the TSX Venture Exchange is greater than $0.42 per Common Share for the preceding 10 consecutive trading days. All securities issued under the Offering and including Warrants will be subject to a four (4) month holding period.
The Company intends to use the net proceeds to define and drill new exploration targets at its Arrowhead and Bazooka properties, general working capital and market awareness. The Private Placement remains subject to receipt of all required approvals, including the approval of the TSX Venture Exchange, as well as execution of formal documentation.
The qualified person has not verified the information on the adjacent properties and the information disclosed is not necessarily indicative of mineralization on the Opawica Projects.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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March 13 th 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metal projects in the Abitibi gold belt, is pursuing ambitious growth objectives. With its 2025 exploration campaign at the Bazooka Property ("Bazooka") already underway, Opawica is targeting 50-metre step-outs in areas where previous assays exceeded 10 gt Au . In doing so, the Company aims to establish Bazooka as the next up-and-coming gold hotspot in the Abitibi Gold Belt.
Although Opawica's market capitalization is only about $8.5 million (as of March 8, 2025) on a fully diluted basis, last year's Lac Gold (Rouyn) Inc.'s acquisition of Yorbeau Resources Inc.'s Rouyn property set the floor on valuation expectations in the immediate region. The deal was structured with a total purchase price of C$25 million. Additionally, Lac Gold granted Yorbeau a 2% net smelter returns royalty on any minerals produced from the property.
Click Image To View Full Size
As the maps below show, Bazooka borders Lac Gold's Rouyn Property directly to the west (Opawica's McWatters Property borders Rouyn to the east).
Click Image To View Full Size
The 2024 acquisition was driven by several strategic factors. Foremost, the Rouyn property boasts significant mineral resources with room for expansion. Furthermore, Quebec's Abitibi Gold Belt reputation as a world class gold-producing jurisdiction played a key role in Lac Gold's decision, offering stability, investor-friendly policies, and well-developed mining infrastructure.
With the Lac Gold Rouyn Property holding a total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces*. Bazooka has yet to establish the same historical pedigree as Rouyn at the time of its sale. However, historical drilling campaigns from 2003 to 2005, 2017 and more recently in 2021 to 2022 have revealed significant gold mineralization on the property, with notable intercepts, including:
77.18 g/t Au over 5.8 m
7.70 g/t Au over 20.5 m
25.77 g/t Au over 7.5 m
7.86 g/t Au over 17 m
Historical high-grade intercept of 316.23 g/t Au over 1 m
These historical results indicate Bazooka's potential—especially with the property located on Cadillac-Larder Lake Fault Zone. This proximity holds immense significance due to its high gold potential, proven geological setting, existing infrastructure, and strong investor interest. This fault has historically hosted some of the richest gold mines in Canada, and any property in this region generally benefits from enhanced exploration success rates and commercial viability.
Along the fault zone, Bazooka covers approximately seven kilometers of this prolific geological structure, which is associated with numerous gold deposits. This mineralized zone is spatially associated with its boundaries, indicating a direct relationship between the property's gold potential and its proximity to this major structural feature.
Short- and long-term goals
With the 2025 drill program underway, the short-term goal for Opawica is simple: to execute the first phase (5,000 m) of a planned 20,000 m drill targets campaign. The Company has already conducted airborne geophysics, downhole geophysics, induced polarization (IP) surveys, ground sampling, and a Phase 1 drill program to better understand the mineralization. The ultimate objective is to confirm and expand known mineralization and work towards an official resource estimate—just as Yorbeau Resources accomplished at Rouyn.
In the long run, Opawica believes that successful execution of its plan will unlock a significantly greater valuation. This sentiment is backed up by corporate actions. Since joining Opawica in 2020, CEO Blake Morgan has become the company's largest shareholder, . This commitment exemplifies his confidence in the company's trajectory and long-term prospects.
Fiscally, Opawica rests in a strong financial position to execute its plan after the Company raised $2.4 million between November and December 2024 bolstering its treasury for 2025. With gold prices exceeding US$2,900 per ounce and with interest in emerging gold projects is at an all-time high, the Company is positioned to drive strong shareholder value in 2025.
In the meantime, investors await the next round of assay results from Bazooka, expected to be reported in the spring of 2025. Positive results could suggest that Bazooka is poised to become the next major underexplored gold discovery in the Abitibi Gold Belt. To illustrate the significance, one needs to look no further than Lac Gold's Rouyn property, located directly to the east.
Mr.Yvan Bussieres, P.Eng., has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
*Yorbeau Resources Inc. NI43-101 October 2011, on the Rouyn Property, Total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces (sedarplus)
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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February 20, 202 5 Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica") is pleased to announce the commencement of drilling at its wholly-owned Bazooka Property ("Bazooka") in the Abitibi Gold Belt. Bazooka is contiguous with property controlled by Agnico Eagle, which hosts the Wasamac gold project located 15 km west-southwest of the mining center of Rouyn-Noranda and approximately 100 km west of the Agnico's 100%-owned Canadian Malartic Complex.
In alignment with previous geo-mapping and fieldwork conducted at Bazooka, the 2025 program includes planned targets with 50 m step-outs from the 2022 drill program, where previous values exceeded 10 g/t Au, including:
18.70 Au g/t over 1 m is within a larger 43.9-meter section of Quartz-sericite stockwork with trace pyrite with visible gold at 279.4 m
The 13.70 Au g/t over 1.6 m is in silicified sherd zone with quartz veining with trace tourmaline and fuchsite
12.70 Au g/t over 0.5 m is in quartz vein stockwork silicified zone with two visible gold flakes.
In addition, drill testing will measure continuity of high-grade Au mineralization along southwest and west striking planes.
Blake Morgan, President of Opawica, stated: "We are excited to commence drilling at the Bazooka property, a highly prospective property in the heart of the Abitibi Gold Belt and next to Agnico's Wasamac gold property. The presence of historical mineralization, visible gold, silicified shear zones, and quartz vein stockwork supports our confidence in Bazooka's commercial gold hosting potential.
In the 2022 program, significant visible gold flakes were observed in a quartz vein shear zone within a silicified zone containing 10% fine, fractured black pyrite with trace amounts of arsenopyrite. A quartz vein shear zone was intersected in hole OP-21-13 at a depth of approximately 150.60 m.
Gold mineralization on the property occurs within mixed, up to 60-metre-wide (estimated true width), strong quartz-carbonate-sericite and talc-chlorite schists of sedimentary and ultramafic to mafic volcanic protoliths, respectively, and is referred to as the Main zone. The alteration and mineralization are spatially associated with the Cadillac-Larder Lake.
The break/fault zone is at the base and is characterized by up to two-meter-wide (estimated true width), strongly graphitic fault. The graphitic fault generally marks the contact between the sedimentary and ultramafic metavolcanic rocks.
Opawica's 2022 program assay results, reported below, are as uncut weighted averages. Interval widths reflect drilled NQ core lengths, with true widths currently unknown.
Assay samples were analyzed at Techni-Lab Abitibi Inc.(Act labs) 184 Rue Principale Ste-Germaine-Boule Quebec (an ISO/IEC 17025:2005 accredited facility). The sampling program was undertaken by Company personnel under the direction of Mr. Yvan Bussieres, P.Eng., A secure chain of custody is maintained in transporting and storing of all samples. The rock samples underwent fire assays, 1E3 - Aqua Regia – ICPOES and select samples underwent gravimetries. Samples of mineralization were taken at 0.5-to-1.5-meter intervals, with sample intervals being adjusted to respect lithological and/or mineralogical contacts and isolate narrow veins or other structures that may yield higher grades.
One half of the sampled intervals were bagged and tagged with one of the dual sample tags. The individual sample bags are sealed and placed into rice bags and marked with the contents. The samples are delivered in batches in January to Techni-Lab Abitibi Inc. (Actlabs) Ste-Germaine-Boule Quebec, for processing, crushing, pulverizing and analysis.
The Quality Assurance and Quality Control or QA/QC protocols are as follows: A blank sample is inserted at samples ended by the number 10, 30, 70 and 90 in the sample sequence – a blank sample usually consists of white ¾ inch rock that is known not to contain any metals. A low-grade rock standard is inserted at samples ended by the number 50, in the sample sequence. A high-grade rock standard is inserted at samples ended by the number 00, in the sample sequence.
Yvan Bussieres, P.Eng., has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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February 1 8 th, 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metal projects, has begun mobilizing its drill to the Bazooka Project ("Bazooka") in the Abitibi gold belt in Quebec. The objective is to evaluate 20 drill targets previously identified in collaboration with ALS Geoanalytics (formerly ALS GoldSpot Discoveries Ltd.) and Opawica.
RJLL Forage Drilling ("RJLL") of Rouyn-Noranda, QC, will conduct the drilling program at Bazooka. With over 100 years of drilling expertise, RJLL has extensive prospecting experience in the Abitibi region and a proven track record of successful drill programs with numerous exploration and Major companies in the area..
The Bazooka property occurs along one of the most prolific auriferous structures in the world, the Cadillac-Larder Lake Break/Fault. This geological anomaly marks the boundary between the Archean Abitibi sub-province in the north and the predominantly metasedimentary Pontiac sub-province south of the fault.
Gold mineralization at Bazooka is hosted within a mixed zone of strong quartz-carbonate-sericite and talc-chlorite schists, derived from sedimentary and ultramafic to mafic volcanic protoliths. This zone, known as the Main Zone, is up to 60m wide (estimated true width) and is spatially associated with the Cadillac-Larder Lake fault zone.
Blake Morgan, Chief Executive Officer of Opawica, stated: "The team is excited to commence drilling at the high-grade Bazooka property. With extensive data from multiple work programs, we are eager to confirm the deposit's size and grade. Our strategy focuses on maximizing asset value, including further investment in the Rouyn-Noranda camp. We aim to drill key targets to enhance our understanding of gold mineralization and advance the project."
Blake Morgan further added: "I am thrilled to collaborate with our team and management to drive our projects forward. Our immediate focus is on the high-potential Bazooka and Arrowhead properties. I am confident in our ability to advance these projects while maximizing value for all stakeholders."
The exploration program at Bazooka benefits from unimpeded road access and ready hydroelectric power, serving to keep exploration costs low. Located in one of the world's most prolific gold-producing regions, the property is surrounded by multiple active mines within 7 km, highlighting the area's significant potential. Extensive work has provided a strong understanding of the region's structure and gold mineralization, guiding our Phase Two drill program. Since 2021, over $6 million has been invested in our assets, including two previous drill programs.
Recently Completed on the Bazooka Property
Identification of over 20 high priority drill targets at Bazooka.
Successfully permitted the Bazooka drill holes.
Oversubscribed Private Placement; raising a total of $2.4M in November 2024.
Completion of a 384-line-kilometer geophysical survey at Bazooka, contiguous to the south of the Wasamac deposit*, covering the vast extent of the shear zones governing mineralization on the greenstone belt.
Established strong communications with the first nations, and local contractors to make a successful project for all stakeholders..
Historical data compilation and direction identified for future exploration on our gold targets in Rouyn-Noranda.
Reviewed Phase 1 one drilling program at Bazooka with multiple high-grade zones and visible gold.
Completed the acquisition data from historical sources from government and previous exploration efforts on our portfolio.
Developed geological models and geological targets based on the data acquired to date from drilling, geophysics, and AI Machine Learning.
Yvan Bussieres, P.Eng. has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
About Opawica Explorations Inc.
Opawica Explorations is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec. The company's management has a great record in discovering and developing successful exploration projects. The company's objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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February 1 8 th, 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metal projects, has begun mobilizing its drill to the Bazooka Project ("Bazooka") in the Abitibi gold belt in Quebec. The objective is to evaluate 20 drill targets previously identified in collaboration with ALS Geoanalytics (formerly ALS GoldSpot Discoveries Ltd.) and Opawica.
RJLL Forage Drilling ("RJLL") of Rouyn-Noranda, QC, will conduct the drilling program at Bazooka. With over 100 years of drilling expertise, RJLL has extensive prospecting experience in the Abitibi region and a proven track record of successful drill programs with numerous exploration and Major companies in the area..
The Bazooka property occurs along one of the most prolific auriferous structures in the world, the Cadillac-Larder Lake Break/Fault. This geological anomaly marks the boundary between the Archean Abitibi sub-province in the north and the predominantly metasedimentary Pontiac sub-province south of the fault.
Gold mineralization at Bazooka is hosted within a mixed zone of strong quartz-carbonate-sericite and talc-chlorite schists, derived from sedimentary and ultramafic to mafic volcanic protoliths. This zone, known as the Main Zone, is up to 60m wide (estimated true width) and is spatially associated with the Cadillac-Larder Lake fault zone.
Blake Morgan, Chief Executive Officer of Opawica, stated: "The team is excited to commence drilling at the high-grade Bazooka property. With extensive data from multiple work programs, we are eager to confirm the deposit's size and grade. Our strategy focuses on maximizing asset value, including further investment in the Rouyn-Noranda camp. We aim to drill key targets to enhance our understanding of gold mineralization and advance the project."
Blake Morgan further added: "I am thrilled to collaborate with our team and management to drive our projects forward. Our immediate focus is on the high-potential Bazooka and Arrowhead properties. I am confident in our ability to advance these projects while maximizing value for all stakeholders."
The exploration program at Bazooka benefits from unimpeded road access and ready hydroelectric power, serving to keep exploration costs low. Located in one of the world's most prolific gold-producing regions, the property is surrounded by multiple active mines within 7 km, highlighting the area's significant potential. Extensive work has provided a strong understanding of the region's structure and gold mineralization, guiding our Phase Two drill program. Since 2021, over $6 million has been invested in our assets, including two previous drill programs.
Recently Completed on the Bazooka Property
Identification of over 20 high priority drill targets at Bazooka.
Successfully permitted the Bazooka drill holes.
Oversubscribed Private Placement; raising a total of $2.4M in November 2024.
Completion of a 384-line-kilometer geophysical survey at Bazooka, contiguous to the south of the Wasamac deposit*, covering the vast extent of the shear zones governing mineralization on the greenstone belt.
Established strong communications with the first nations, and local contractors to make a successful project for all stakeholders..
Historical data compilation and direction identified for future exploration on our gold targets in Rouyn-Noranda.
Reviewed Phase 1 one drilling program at Bazooka with multiple high-grade zones and visible gold.
Completed the acquisition data from historical sources from government and previous exploration efforts on our portfolio.
Developed geological models and geological targets based on the data acquired to date from drilling, geophysics, and AI Machine Learning.
Yvan Bussieres, P.Eng. has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
About Opawica Explorations Inc.
Opawica Explorations is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec. The company's management has a great record in discovering and developing successful exploration projects. The company's objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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HIGHLIGHTS
Figure 1; TMG's latest tenement acquisition overlying local geology, historical Au and Sb occurrences (https://minview.geoscience.nsw.gov.au)
The acquisition includes four key projects:
Nundle (EL 9594)
The Nundle Goldfield has a rich history of gold production, with several historical antimony mines present within the region. It covers parts of the major Peel Fault and contains numerous old workings where typically small high-grade gold deposits occur in dolerites. The expanded Nundle Project, encompassing both Nundle and North Nundle, provides Trigg access to a 40 km length of the Peel Fault, a deep-seated conduit for mineralising fluids, controlling the localisation of auriferous (gold-bearing) quartz veins and antimony deposits. Several historical goldfields, including Nundle, Hanging Rock, and Bingara, are closely associated with this fault system.
Upper Hunter (EL 9655)
The Upper Hunter Goldfield in NSW is a historic gold-producing region known for its structurally controlled, quartz-vein-hosted gold deposits. Mineralisation occurs in fault breccia and shear zones within sedimentary rocks, with gold typically found alongside pyrite, arsenopyrite, minor chalcopyrite, and, locally, stibnite (antimony).
Cobark and Copeland (EL 9653)
The Cobark and Copeland Goldfields in NSW were prominent during the late 1800s gold rush. Mining focused on high-grade quartz veins hosted in faults and shear zones. The Copeland area became a key mining hub, with underground workings targeting gold-rich sulphides such as pyrite, stibnite (antimony), arsenopyrite, and minor chalcopyrite. The region remains highly prospective for modern exploration.
The association of antimony mineralisation with gold enhances the project's critical mineral potential, aligning with Trigg Minerals’ strategy to explore and develop high-value, multi- commodity assets in Tier-1 mining jurisdictions.
STRATEGIC RATIONALE
The Projects are in an underexplored yet highly prospective region, with historical workings and strong geological indicators suggesting significant upside potential. The presence of both gold and antimony presents an exciting opportunity for Trigg to unlock new resources and expand its footprint in the strategic metals sector.
Tim Morrison, Executive Chairman of Trigg Minerals, commented:
“The acquisition of the Nundle and other Projects marks an exciting expansion for Trigg Minerals into historically productive goldfields with strong critical mineral potential. The presence of both gold and antimony in this underexplored region aligns perfectly with our focus on high-value, strategically significant minerals. We look forward to applying modern exploration techniques to uncover new opportunities within this proven mineral province.”
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This article includes content from Trigg Minerals 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.
Central to this ongoing situation is the US trade war with China, as well as US sanctions on China and Russia. Should the BRICS nations establish a new reserve currency, it would likely significantly impact the US dollar, potentially leading to a decline in demand, or what's known as de-dollarization. In turn, this would have implications for the United States and global economies.
Another factor is former US president Donald Trump returning for a second term beginning on January 20. Trump's America-first policies are expected to drive up the value of the dollar compared to its global counterparts, as was already on display the day following his election win on November 5 as China's yuan, Russia's ruble, Brazil's real, India's rupee and South Africa's rand all fell. This could in turn push these BRICS member nations to look for new paths to move away from the US dollar.
At the 2024 BRICS summit, Russian President Vladimir Putin appeared on stage holding what appeared as a prototype of a possible BRICS banknote. However, he seemed to back away from previous aggressive calls for de-dollarization, stating the goal of the BRICS member nations is not to move away from the US dollar-dominated SWIFT platform, but rather to deter the "weaponization" of the US dollar by developing alternative systems for using local currencies in financial transactions between BRICS countries and with trading partners.
"We are not refusing, not fighting the dollar, but if they don't let us work with it, what can we do? We then have to look for other alternatives, which is happening," he stated.
It's still too hard to predict if and when a BRICS currency will be released in 2025 or beyond, but it's a good time to look at the potential for a BRICS currency and its possible implications for investors.
The BRICS nations have a slew of reasons for wanting to set up a new currency, including recent global financial challenges and aggressive US foreign policies. They want to better serve their own economic interests while reducing global dependence on the US dollar and the euro.
In recent years, the US has placed numerous sanctions on Russia and Iran. The two countries are working together to bring about a BRICS currency that would negate the economic impacts of such restrictions, according to Iranian Ambassador to Russia Kazem Jalal, speaking at a press conference during the Russia–Islamic World: KazanForum in May 2024.
Some experts believe that a BRICS currency is a flawed idea, as it would unite countries with very different economies. There are also concerns that non-Chinese members might increase their dependence on China's yuan instead. That said, when Russia demanded in October 2023 that India pay for oil in yuan as Russia is struggling to use its excess supply of rupees, India refused to use anything other than the US dollar or rupees to pay.
There's no definitive launch date as of yet, but the countries' leaders have discussed the possibility at length.
Looking back at the timeline of BRICS currency discussions, during the 14th BRICS Summit, held in mid-2022, Russian President Vladimir Putin said the BRICS countries plan to issue a "new global reserve currency," and are ready to work openly with all fair trade partners.
In April 2023, Brazilian President Luiz Inacio Lula da Silva showed support for a BRICS currency, commenting, “Why can’t an institution like the BRICS bank have a currency to finance trade relations between Brazil and China, between Brazil and all the other BRICS countries? Who decided that the dollar was the (trade) currency after the end of gold parity?”
In the lead up to the 2023 BRICS Summit last August, there was speculation that an announcement of such a currency could be on the table. This proved to be wishful thinking, however.
"The development of anything alternative is more a medium to long term ambition. There is no suggestion right now to creates a BRICS currency," Leslie Maasdorp, CFO of the New Development Bank, told Bloomberg at the time. The bank represents the BRICS bloc.
Most recently, government officials in Brazil, which took the rotating presidency of the BRICS group for 2025, have said there are no plans to take any significant steps toward a BRICS currency. However, measures to reduce the reliance on the US dollar are very much on the table with cross-border payment systems, including exploring blockchain technology, set to be a major theme at the 2025 BRICS summit to be hosted in Rio de Janeiro in July, reported Reuters.
As of 2025, there are 10 BRICS member nations: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.
The group was originally composed of the four nations Brazil, Russia, India and China and named BRIC, which it changed to BRICS when South Africa joined in 2010.
At the 2023 BRICS Summit, six countries were invited to become BRICS members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE). All but Argentina and Saudi Arabia officially joined the alliance in January 2024, and in 2025, Indonesia became the 10th full member of BRICS.
Additionally, at the 2024 BRICS Summit, 13 nations signed on as BRICS partner countries, which are not yet full-fledged members: Algeria, Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Vietnam and Uzbekistan.
The expanded group of 10 full member countries is sometimes referred to as BRICS+, although BRICS's name hasn't officially changed.
A new currency could have several benefits for the BRICS countries, including more efficient cross-border transactions and increased financial inclusion. By leveraging blockchain technology, digital currencies and smart contracts, the currency could revolutionize the global financial system. Thanks to seamless cross-border payments, it could also promote trade and economic integration among the BRICS nations and beyond.
A new BRICS currency would also:
New US President Donald Trump has not been shy about upping the ante on American protectionism with his plans to slap tariffs on imported goods beginning this year. During the first US Presidential Debate between him and Vice President Kamala Harris on September 10 last year, Trump doubled down on his pledge to punish BRICS nations with strict tariffs if they seek to move away from the US dollar as the global currency.
He is taking a particularly strong stance against China, threatening to implement 60 percent to 100 percent tariffs on Chinese imports, although these hefty tariffs would be paid by American companies and consumers purchasing Chinese products, not by China itself.
In early December, Trump posted an even more direct threat to BRICS nations on the social media platform Truth Social. “We require a commitment from these countries that they will neither create a new Brics currency nor back any other currency to replace the mighty US dollar or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy,” he wrote.
In response to Trump demanding a "commitment" from BRICS nations not to challenge the supremacy of the US dollar, Kremlin spokesperson Dmitry Peskov sounded less than threatened.
"More and more countries are switching to the use of national currencies in their trade and foreign economic activities," Peskov said, per Reuters. "If the U.S. uses force, as they say economic force, to compel countries to use the dollar it will further strengthen the trend of switching to national currencies (in international trade)."
If US President Donald Trump were to come through on his promise to enact 100 percent tariffs on BRICS nations the outcome could prove costly for all parties involved. “The action would result in slower growth and higher inflation than otherwise in the US and most of the targeted economies,” according to analysis by the Peterson Institute for International Economics.
Of all the BRICS member nations, China would likely experience slower GDP growth the worst as the United States is its largest trading partner. One silver lining for China is that its disciplined central bank will help to save it from accelerated inflation.
Trump’s 25 percent tariff on steel and aluminum imports set on March 12, 2025 will impact Brazil and China as well as the UAE. Brazil ranks in the top three sources for US steel imports; while China and the UAE represent significant sources of US aluminum imports.
RomanR / Shutterstock
For decades, the US dollar has enjoyed unparalleled dominance as the world's leading reserve currency. According to the US Federal Reserve, between 1999 and 2019, the dollar was used in 96 percent of international trade invoicing in the Americas, 74 percent in the Asia-Pacific region and 79 percent in the rest of the world.
According to the Atlantic Council, the US dollar is used in approximately 88 percent of currency exchanges, and 59 percent of all foreign currency reserves held by central banks. Due to its status as the most widely used currency for conversion and its use as a benchmark in the forex market, almost all central banks worldwide hold dollars. Additionally, the dollar is used for the vast majority of oil trades.
Although the dollar's reserve currency share has decreased as the euro and yen have gained popularity, the dollar is still the most widely used reserve currency, followed by the euro, the yen, the pound and the yuan.
The potential impact of a new BRICS currency on the US dollar remains uncertain, with experts debating its potential to challenge the dollar's dominance. However, if a new BRICS currency was to stabilize against the dollar, it could weaken the power of US sanctions, leading to a further decline in the dollar's value. It could also cause an economic crisis affecting American households. Aside from that, this new currency could accelerate the trend toward de-dollarization.
Nations worldwide are seeking alternatives to the US dollar, with examples being China and Russia trading in their own currencies, and countries like India, Kenya and Malaysia advocating for de-dollarization or signing agreements with other nations to trade in local currencies or alternative benchmarks.
While it is unclear whether a new BRICS currency would inspire the creation of other US dollar alternatives, the possibility of challenging the dollar's dominance as a reserve currency remains. And as countries continue to diversify their reserve holdings, the US dollar could face increasing competition from emerging currencies, potentially altering the balance of power in global markets.
However, a study by the Atlantic Council's GeoEconomics Center released in June 2024 shows that the US dollar is far from being dethroned as the world's primary reserve currency.
"The group's 'Dollar Dominance Monitor' said the dollar continued to dominate foreign reserve holdings, trade invoicing, and currency transactions globally and its role as the primary global reserve currency was secure in the near and medium term," Reuters reported.
Warwick J. McKibbin and Marcus Noland of the Peterson Institute for International Economics agree with this sentiment, writing in their analysis of the impacts of US tariffs on BRICS nations that "the BRICS pose no serious threat to the dollar’s dominance."
Ultimately, the impact of a new BRICS currency on the US dollar will depend on its adoption, its perceived stability and the extent to which it can offer a viable alternative to the dollar's longstanding hegemony.
BRICS nations do not as of yet have their own specific digital currency, but a BRICS blockchain-based payment system is in the works, according to Kremlin aide Yury Ushakov in March 2024. Known as the BRICS Bridge multisided payment platform, it would connect member states' financial systems using payment gateways for settlements in central bank digital currencies.
The planned system would serve as an alternative to the current international cross-border payment platform, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, which is dominated by US dollars.
“We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people and businesses, as well as cost-effective and free of politics,” Ushakov said in an interview with Russian news agency TASS.
Another dollar-alternative digital currency cross-border payment system in the works is Project mBridge, under development via a collaboration between the Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Institute of the People's Bank of China and the Central Bank of the UAE. Saudi Arabia has also recently decided to join the project. The central bank digital currencies traded on the platform would be backed by gold and local currencies minted in member nations.
In June 2024, Forbes reported that the mBridge platform had reached a significant milestone by completing its minimal viable product stage (MVP). The MVP platform can undertake real-value transactions (subject to jurisdictional preparedness) and is compatible with the Ethereum Virtual Machine (EVM), a decentralized virtual environment that executes code consistently and securely across all Ethereum nodes," stated the publication. "MVP thus is suitable as a testbed for new use cases and interoperability with other platforms."
In a recent interview with the Investing News Network, Andy Schectman, president of Miles Franklin, explained how Project mBridge relates to the BRICS Unit.
"(New Development Bank President Dilma Rousseff) came out and publicly said that there has been an agreement in principle to use a new settlement currency called the Unit, which will be backed 40 percent by gold and 60 percent by the local currencies in the BRICS union — the BRICS+ countries. That gold will be in the form of kilo bars and will be deliverable or redeemable for those entities," Schectman said.
"The basket of gold and the basket of currencies will be minted in the member countries ... it will be put into an escrow account, taken off the ledger so to speak — off of their balance sheet and put onto the mBridge ledger, and held in an escrow account in their own borders. It doesn't need to be sent to a central authority."
A potential shift toward a new BRICS currency could have significant implications for the North American economy and investors operating within it. Some of the most affected sectors and industries would include:
A new BRICS currency would also introduce new trading pairs, alter currency correlations and increase market volatility, requiring investors to adapt their strategies accordingly.
Adjusting a portfolio in response to emerging BRICS currency trends may be a challenge for investors. While it does not currently seem like a BRICS currency is on the immediate horizon, Trump's aggressive trade tactics have pushed allies away from the US, making diversification important.
Several strategies can be adopted to capitalize on these trends and diversify your portfolio:
Prudent investors will also weigh these strategies against their exposure to market, political and currency fluctuations.
In terms of investment vehicles, investors could consider ETFs such as the iShares MSCI BIC ETF (ARCA:BKF) or the Pacer Emerging Markets Cash COW 100 ETF (NASDAQ:ECOW). They could also invest in mutual funds such as the T. Rowe Price Emerging Markets Equity Fund, or in individual companies within the BRICS countries.
Simply put, preparing for a new BRICS currency or potential de-dollarization requires careful research and due diligence by investors. Diversifying currency exposure, and investing in commodities, equity markets or alternative investments are possible options to consider while being mindful of the associated risks.
While it is not certain whether the creation of a BRICS reserve currency will come to pass, its emergence would pose significant implications for the global economy and potentially challenge the US dollar's dominance as the primary reserve currency. This development would present unique investment opportunities, while introducing risks to existing investments as the shifting landscape alters monetary policy and exacerbates geopolitical tensions.
For those reasons, investors should closely monitor the progress of a possible BRICS currency. And, if the bloc does eventually create one, it will be important watch the currency's impact on BRICS member economies and the broader global market. Staying vigilant will help investors to capitalize on growth prospects and hedge against potential risks.
Some financial analysts point to the creation of the euro in 1999 as proof that a BRICS currency may be possible. However, this would require years of preparation, the establishment of a new central bank and an agreement between the five nations to phase out their own sovereign currencies; it would most likely also need the support of the International Monetary Fund to be successful internationally.
The impact of its war on Ukraine will continue to weaken Russia's economy and the value of the ruble, and China is intent on raising the power of the yuan internationally. There is also a wide chasm of economic disparity between China and other BRICS nations. These are no small obstacles to overcome.
While Russian President Vladimir Putin has suggested hard assets such as gold or oil, a new BRICS currency would likely be backed by a basket of the bloc's currencies. However, this basket could potentially contain gold as well, as Andy Schectman explained to INN.
Additionally, speaking at this year's New Orleans Investment Conference, well-known author Jim Rickards gave a detailed talk on how a gold-backed BRICS currency could work. He suggested that if a BRICS currency unit is worth 1 ounce of gold and the gold price goes to US$3,000 per ounce, the BRICS currency unit would be worth US$3,000, while the dollar would lose value compared to the BRICS currency as measured by the weight of gold.
Importantly though, he doesn't see this as a new gold standard, or the end of the US dollar or the euro.
“(With) a real gold standard, you can take the currency and go to any one of the central banks and get some gold,” Rickards said at the event. “With BRICS they don’t have to own any gold, they don’t have to buy any gold, they don’t have to prop up the price. They can just rise on the dollar gold market."
As of Q3 2024, the combined central bank gold holdings of the original BRICS nations plus Egypt (the only nation of the five new additions to have central bank gold reserves) accounted for more than 20 percent of all the gold held in the world's central banks. Russia, India and China rank in the top 10 for central bank gold holdings.
Russia controls 2,335.85 metric tons (MT) of the yellow metal, making it the fifth largest for central bank gold reserves. China follows in the sixth spot with 2,264.32 MT of gold and India places eighth with 853.63 MT. Brazil and South Africa's central bank gold holdings are much smaller, coming in at 129.65 MT and 125.44 MT, respectively. New BRICS member Egypt's gold holdings are equally small, at 126.82 MT.
This is an updated version of an article originally published by the Investing News Network in 2023.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
With a clear, execution-focused strategy, Inca Minerals is poised to become a leading gold and antimony exploration company in Australia. The company is led by an experienced management team dedicated to unlocking value through strategic exploration and resource development.
Inca Minerals (ASX:ICG) is an Australia-focused exploration company targeting high-grade gold and gold-antimony mineralization. The company’s strategy is underpinned by its recent acquisition of Stunalara Metals, a transformational deal that strengthens its portfolio with high-grade exploration assets. The Hurricane project in Northern Queensland is Inca’s key focus, offering exceptional exploration potential in a region with significant structural controls for mineralization. With a strong macro backdrop of record gold prices and increasing demand for critical minerals, Inca is well-positioned to capitalize on this market opportunity.
Inca Minerals' primary objective is to advance the flagship Hurricane project through an aggressive exploration strategy. The company plans to initiate shallow drilling in Q2 2025, targeting high-priority gold-antimony mineralization identified from rock chip sampling and structural mapping. Concurrently, Inca is conducting geophysical and geochemical surveys to refine drill targets and expand the exploration footprint, ensuring a comprehensive approach to unlocking the project’s full potential.
Recognizing the increasing demand for critical minerals, Inca is strategically positioning itself as a key player in the antimony market. With China imposing export restrictions on this vital commodity, global supply constraints present a significant opportunity for Inca. The company aims to capitalize on this trend by advancing its high-grade gold-antimony deposits at Hurricane, demonstrating the economic viability of the project. Additionally, Inca is focused on educating the market about antimony’s essential role in energy transition, defence and high-tech applications, further reinforcing its value proposition to investors.
Beyond Hurricane, Inca is committed to maintaining a balanced and de-risked exploration portfolio. The company plans to commence fieldwork at the Mt Read project in Tasmania in late 2025, evaluating its potential for polymetallic mineralization, including copper, lead, zinc and gold.
The Hurricane project is Inca Minerals’ flagship asset, located in Northern Queensland, approximately 110 km west-northwest of Cairns. The project consists of three tenements positioned within a structurally favorable corridor between the Hurricane and Retina Faults. The project is highly prospective for gold and antimony mineralization, with multiple high-grade targets identified through historical and recent rock chip sampling.
Recent assay results from Hurricane confirm the presence of significant gold and antimony grades, with highlights including 81.5 grams per ton (g/t) gold at Hurricane South, 12.95 g/t gold at Hurricane North, and 35.1 percent antimony at Bouncer. Despite these impressive surface results, the project remains undrilled, offering a rare opportunity to test a virgin high-grade gold-antimony system. The mineralization is epithermal in nature, hosted within structurally controlled quartz veins that show strong alteration signatures, suggesting a robust hydrothermal system.
Gold and antimony prospects at the Hurricane project
Inca plans to commence an initial shallow drilling program in Q2 2025, targeting the highest-priority areas identified from geochemical and structural mapping. The company is also conducting geophysical surveys and additional rock chip sampling to refine its understanding of the mineralized system and expand its exploration footprint.
With a strong technical basis and excellent exploration upside, Hurricane is positioned as a potential near-term discovery opportunity for high-grade gold and antimony resources.
The Mt Read project is an early-stage exploration asset located in Tasmania, a region well-known for its polymetallic mineralization. While not the immediate focus of Inca’s exploration strategy, Mt Read presents a significant longer-term opportunity for base metals, including copper, lead, zinc and, potentially, gold. The project is situated within a geologically prospective setting that has seen limited modern exploration.
Fieldwork at Mt Read is expected to begin in late 2025, following the advancement of the Hurricane project. Initial exploration efforts will include geological mapping, geochemical sampling and geophysical surveys to identify potential drill targets. While still in its infancy, Mt Read aligns with Inca’s strategy of securing highly prospective projects in stable jurisdictions with strong mineral endowments.
Adam Taylor brings more than 20 years of experience in the civil construction and mining sectors. As CEO of a family-owned group of businesses, he oversees operations in mining, construction, waste management, dewatering and infrastructure maintenance across Western Australia. His core competencies include business management, strategy development, contract negotiation and implementing innovative solutions.
Trevor Benson has extensive experience in the mining and finance sectors, having worked with mining companies, investment banks and finance houses. He has completed mergers and acquisitions and capital market transactions across various natural resources and related industries. Benson holds a Bachelor of Science from the University of Western Australia.
With more than 40 years in the mining and exploration industry, Brad Marwood has held executive roles, including CEO and managing director positions at various companies, including Middle Island Resources and Tiger Resources. An engineer by training, he has been responsible for over 50 feasibility studies and has secured $500 million in funding for project development. His expertise encompasses exploration, project implementation, operational management and strategic planning.
Andrew Haythorpe has more than 30 years of experience in the resources and investment industries. His background includes roles as a geologist with CRA, mining analyst with Suncorp and Hartleys, and fund manager at Bankers Trust, managing more than $40 billion. He has raised over $200 million for junior companies and led Crescent Gold from an $8 million explorer to a $250 million gold producer. Haythorpe currently serves as a director of Allup Silica and a non-executive director of Tempest Minerals.
B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce the Phase 2 expansion of the Fekola Solar Plant is complete and operational.
B2Gold commenced construction of the Phase 2 Solar Plant expansion in June 2023 with initial land clearing and road construction, and ramped up to physical equipment construction in February 2024. The expansion of the Fekola Solar Plant was completed in the fourth quarter of 2024 and became operational in January 2025. The Phase 2 expansion included the construction of an additional 46,200 solar panels, increasing the total panel count of the Fekola Solar Plant to 142,912.
At the peak of construction, over 120 local jobs were generated, and 13 individuals have been trained and employed to maintain the Fekola Solar Plant expansion area following completion. The Company also engaged with a local drilling company for services throughout the construction period, generating employment for local workers.
Operating at full capacity, the expansion to the Fekola Solar Plant will provide an additional 22 megawatts ("MW") of solar capacity (52 MW total capacity) and 12.7 megawatt-hours ("MWh") of battery capacity (27.7 MWh total capacity). The expanded Fekola Solar Plant is expected to reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO 2 e) and reduce the annual consumption of heavy fuel oil ("HFO") by an estimated 20 million liters. The expanded Fekola Solar Plant is expected to supply approximately 30% of the site's total electricity demand and is considered to be one of the largest off-grid solar/HFO hybrid power plants in the world.
Ken Jones, Director of Sustainability for B2Gold, commented, "The expansion of the Fekola Solar Plant is a significant initiative in support of B2Gold's emission reduction target. The expanded facility will allow the Fekola site team to turn off the HFO plant for a portion of the day during times of sufficient solar radiation, a tremendous achievement for B2Gold and a testament to our commitment to implementing renewable energy solutions."
B2Gold continues to investigate and implement new and existing renewable energy sources to power operations globally and is actively pursuing additional decarbonization initiatives in an effort to mitigate climate risks and to progress towards achieving the Company's target of a 30% reduction in Scope 1 and 2 greenhouse gas emissions by 2030 against a 2021 baseline. For details on how B2Gold takes action to manage its climate impacts and climate-related risks, please refer to the 2023 Climate Strategy Report located at www.b2gold.com .
About B2Gold
B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland. B2Gold forecasts total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025.
ON BEHALF OF B2Gold Corp.
"Clive T. Johnson"
President and Chief Executive Officer
Source: B2Gold Corp.
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.
Production guidance presented in this news release reflect total production at the mines B2Gold operates on a 100% project basis. Please see our Annual Information Form dated March 14, 2024, for a discussion of our ownership interest in the mines B2Gold operates.
This news release includes certain "forward-looking information" and "forward-looking statements" ("collectively forward-looking statements") within the meaning of applicable Canadian and United States securities legislation, including: projections; outlook; guidance; forecasts; estimates; and other statements regarding future or estimated financial and operational performance, gold production and sales, revenues and cash flows, and capital costs (sustaining and non-sustaining) and operating costs, including projected cash operating costs and AISC, and budgets on a consolidated and mine by mine basis; future or estimated mine life, metal price assumptions, ore grades or sources, gold recovery rates, stripping ratios, throughput, ore processing; statements regarding anticipated exploration, drilling, development, construction, permitting and other activities or achievements of B2Gold; and including, without limitation: total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025; the Company reducing its GHG emissions by 30% by 2030 against a 2021 baseline; the expanded Fekola Solar Plant reducing annual emissions by approximately 63,000 tonnes of CO2e; the expanded Fekola Solar Plant reducing the annual consumption of heavy fuel oil by an estimated 20 million liters ; and the expanded Fekola Solar Plant supplying approximately 30% of the site's total electricity demand. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond B2Gold's control, including risks associated with or related to: the volatility of metal prices and B2Gold's common shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty of reserve and resource estimates; not achieving production, cost or other estimates; actual production, development plans and costs differing materially from the estimates in B2Gold's feasibility and other studies; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; the ability to replace mineral reserves and identify acquisition opportunities; the unknown liabilities of companies acquired by B2Gold; the ability to successfully integrate new acquisitions; fluctuations in exchange rates; the availability of financing; financing and debt activities, including potential restrictions imposed on B2Gold's operations as a result thereof and the ability to generate sufficient cash flows; operations in foreign and developing countries and the compliance with foreign laws, including those associated with operations in Mali, Namibia, the Philippines, Canada, and Colombia and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements or resource nationalization generally; remote operations and the availability of adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties and joint venture partners; the lack of sole decision-making authority related to Filminera Resources Corporation, which owns the Masbate Project; challenges to title or surface rights; the dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; competition with other mining companies; community support for B2Gold's operations, including risks related to strikes and the halting of such operations from time to time; conflicts with small scale miners; failures of information systems or information security threats; the ability to maintain adequate internal controls over financial reporting as required by law, including Section 404 of the Sarbanes-Oxley Act; compliance with anti-corruption laws, and sanctions or other similar measures; social media and B2Gold's reputation; risks affecting Calibre having an impact on the value of the Company's investment in Calibre, and potential dilution of our equity interest in Calibre; as well as other factors identified and as described in more detail under the heading "Risk Factors" in B2Gold's most recent Annual Information Form, B2Gold's current Form 40-F Annual Report and B2Gold's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"), which may be viewed at www.sedar.com and www.sec.gov, respectively (the "Websites"). The list is not exhaustive of the factors that may affect B2Gold's forward-looking statements.
B2Gold's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to B2Gold's ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; B2Gold's ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.
B2Gold's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
For more information on B2Gold please visit the Company website at www.b2gold.com or contact: Michael McDonald VP, Investor Relations & Corporate Development +1 604-681-8371 investor@b2gold.com Cherry DeGeer Director, Corporate Communications +1 604-681-8371
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