(TheNewswire)
Vancouver, B.C. TheNewswire - August 15, 2022 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce the positive drill results on its wholly owned Bazooka Property.
Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") is pleased to provide an update on its first phase of drilling on the Company's Bazooka property in Rouyn Noranda camp of Quebec.
Highlights include:
Figure 1 Visible gold in OP-21-22 @ 279.45 m depth
Company President and Chief Executive Officer, Blake Morgan, commented, "The drilling to date has progressed extremely well. It is encouraging to be encountering visible gold during our maiden drill program. Over 2,000 meters of core have now been sent for assay. Phase two of the planned drilling will begin shortly, in addition to a maiden drill campaign on the Arrowhead project. We look forward to the assay results and reporting them to our shareholders."
Bazooka Property
The Bazooka property occurs along one of the most prolific auriferous structures in the world, the Cadillac-Larder Lake break/fault. The Cadillac-Larder Lake break/fault, in part, marks the boundary between the Archean Abitibi subprovince in the north and the predominantly metasedimentary Pontiac subprovince south of the fault.
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-metre-wide (estimated true width), strongly graphitic fault. The graphitic fault generally marks the contact between the sedimentary and ultramafic metavolcanic rocks.
Structures and hydrothermal pathways were interpreted using the co-occurrence of selected exploration criteria in drill hole data. Interpreted prospective panels trend generally east-west with a steep dip to the north. They are constrained within the northern and southern borders of the Cadillac shear zone, a 150-metre-wide corridor of highly carbonate-chlorite-talc altered and schistosed ultramafic units, which form a Z-shape asymmetric drag fold in the area of the Bazooka historic mine.
Derrick Strickland, P. Geo (OGQ No. 35402), is the qualified person for Opawica Explorations, and has reviewed and approved the technical content of this news release.
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 and in Central Newfoundland and Labrador. 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
Opawica Explorations Inc.
Telephone: 604-681-3170
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.
(TheNewswire)
Vancouver, B.C. TheNewswire - August 15, 2022 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce the positive drill results on its wholly owned Bazooka Property.
Opawica's drill program on the Bazooka was designed in collaboration with Goldspot who used integrated and reinterpreted data sets (geochemical, geophysical, geological). As a result, Opawica was provided with a cohesive and informed geoscientific interpretation in efforts to help facilitate drill targeting on the Bazooka property. The drill targets that were generated were derived from an understanding gained from Goldspot based on their analysis. Structural interpretations and 3-D modelling were provided by Goldspot and led to the development of an updated geological model which includes fold events, numerous lithostratigraphic units, as well as faults. The Company completing 5,022 m of drilling over 21 drill holes on the Bazooka and sent in a total of 1,658 rock samples, representing 2,092 linear metres for analysis (See Table 1).
The 21 drill holes were completed on 18 setups testing 18 different drill targets representing less than half of 48 drill targets generated by Goldspot. Thirty (30) Goldspot drill targets have not been tested for gold mineralization.
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-metre-wide (estimated true width), strongly graphitic fault. The graphitic fault generally marks the contact between the sedimentary and ultramafic metavolcanic rocks. This mineralization has been identified throughout the region in producing gold mines like the Yorbeau Resources Inc. Ryoun are acquiring, and more to come, our geological team is gathering a greater understanding of the system. Open to depth, north, south and to the west, we will use this new data to generate additional high priority drill targets for our phase two campaign. Opawica holds 7kms of the Cadillac-Larder fault zone within the Bazooka property, and the exploration team has only touched on 20%. It is well documented that this fault system contains multiple million-ounce deposits and Opawica is moving to uncover and expand the already known gold system."
The Company has engaged Abitibi Geophysics to undertake a DasVision 3D Induced Polarization (IP) over an area of 400x400m portion of the property. The IP survey covers the main zone alteration where known zone of mineralization is up to 15m wide in quartz carbonate stock work. The objective of the IP survey is to identify the lateral and vertical extension of known hydrothermal and mineralization zones. In addition, Opawica also plans to undertake downhole geophysics on recent drillholes. The new data will be integrated into the evolving geological model generated by Goldspot for follow up drill targeting.
A follow up program consisting of downhole geophysics (to better define drill targets and define areas for infill drilling) in and around known current and historical gold mineralization in the vicinity of the Bazooka shaft is now being planned.
Mineralization Highlights
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 meters.
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.
Hole Name | From | To | Length (m) | Au g/t | Hole Name | From | To | Length (m) | Au g/t | |
OP-21-06 | 272.0 | 278.5 | 4.5 | 1.96 | OP-22-19 | 332.0 | 330.0 | 1.0 | 4.31 | |
Including | 272.0 | 273.5 | 1.5 | 0.18 | Including | 332.0 | 332.5 | 0.5 | 8.47 | |
273.5 | 275.0 | 1.5 | 5.51 | 332.5 | 333.0 | 0.5 | 0.14 | |||
275.0 | 276.5 | 1.5 | 0.18 | OP-22-20 | 278.0 | 281.0 | 3.0 | 6.48 | ||
OP-21-07 | 194.0 | 197.0 | 3.0 | 2.67 | Including | 278.0 | 279.0 | 1.0 | 0.19 | |
Including | 194.0 | 195.5 | 1.5 | 0.35 | 279.0 | 280.0 | 1.0 | 18.70 | ||
195.5 | 197.0 | 1.5 | 4.99 | 280.0 | 281.0 | 1.0 | 0.56 | |||
OP-21-09 | 135.0 | 136.5 | 1.5 | 4.26 | OP-22-20 | 283.3 | 284.4 | 1.1 | 2.40 | |
OP-21-11 | 178.5 | 180.0 | 1.5 | 2.79 | OP-22-22 | 173.0 | 180.2 | 7.2 | 2.34 | |
OP-21-13 | 143.6 | 146.6 | 3.0 | 8.21 | Including | 173.0 | 174.0 | 1.0 | 6.30 | |
Including | 143.6 | 145.2 | 1.6 | 13.70 | 174.0 | 175.0 | 1.0 | 1.09 | ||
145.2 | 146.6 | 1.4 | 2.72 | 175.0 | 176.0 | 1.0 | 1.60 | |||
OP-21-13c | 152.0 | 153.5 | 1.5 | 6.39 | 176.0 | 177.0 | 1.0 | 2.07 | ||
Including | 152.0 | 153.0 | 1.0 | 0.07 | 177.0 | 178.0 | 1.0 | 2.42 | ||
153.0 | 153.5 | 0.5 | 12.70 | 178.0 | 179.0 | 1.0 | 1.51 | |||
OP-22-18 | 237.0 | 238.5 | 3.0 | 3.06 | 179.0 | 180.2 | 1.2 | 1.42 | ||
Including | 237.0 | 238.5 | 1.5 | 5.90 | OP-22-22 | 267.0 | 268.5 | 1.5 | 2.35 | |
238.5 | 240.0 | 1.5 | 0.22 |
Assay results are presented as uncut weighted averages. Interval widths represent drilled NQ core lengths and true width is unknown currently. The balance of the drill results gave negligible values.
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. The core was split in two separate sections. One half of the core, the other half is sent for analysis.
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.
Drill Hole | NAD83E | NAD83N | AZ | Dip | Depth (M) |
OP-21-06 | 641010 | 5339695 | 170 | -68 | 320 |
OP-21-07 | 640966 | 5339649 | 170 | -55 | 252 |
OP-21-08 | 640966 | 5339649 | 170 | -55 | 45.5 |
OP-21-09 | 640833 | 5339533 | 165 | -68 | 170 |
OP-21-10 | 640799 | 5339520 | 165 | -70 | 150 |
OP-21-11 | 640733 | 5339568 | 150 | -55 | 210 |
OP-21-12 | 640812 | 5339601 | 165 | -52 | 65 |
OP-21-13 | 640735 | 5339608 | 150 | -52.1 | 150 |
OP-21-13b | 640734 | 5339608 | 159.8 | -52.9 | 33.7 |
OP-21-13c | 640735 | 5339608 | 159.8 | -52.9 | 222 |
OP-21-14 | 640677 | 5339607 | 153 | -55 | 192 |
OP-22-15 | 640814 | 5339740 | 163 | -64 | 366 |
OP-22-16 | 640814 | 5339740 | 170 | -55 | 351 |
OP-22-17 | 640773 | 5339753 | 168 | -52 | 280.2 |
OP-22-17B | 640773 | 5339753 | 168 | -52 | 280.2 |
OP-22-18 | 640780 | 5339840 | 165 | -60 | 462 |
OP-22-19 | 640783 | 5339813 | 172 | -62 | 417 |
OP-22-20 | 640822 | 5339675 | 160 | -68 | 333 |
OP-22-21 | 640822 | 5339675 | 174 | -62 | 342 |
OP-22-22 | 640763 | 5339713 | 157 | -64 | 381 |
5022.6 |
Subject to TSXV approval, the Company has repriced the following options to $0.10:
1,650,000 options exercisable at $0.60 expiring June 8, 2026
200,000 options exercisable at $0.34 expiring October 20, 2026
495,000 options exercisable at $0.34 expiring December 22, 2026
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, and in central Newfoundland and Labrador. 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.
Opawica's Bazooka properties cover seven kilometres of the prolific CLLB. The Bazooka properties are bound to the west by the Wassamac gold property, which is 100 per cent owned by Richmont Mines Inc.
Yvan Bussieres, P.Eng., OIQ #31985, 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.
FOR FURTHER INFORMATION CONTACT
Blake Morgan
President and Chief Executive Officer
Telephone: 604-681-3170
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) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
Vancouver, B.C. TheNewswire - June 29 th 2022 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce it has completed its maiden drill program on the Arrowhead Property in the Rouyn Noranda camp of the Abitibi in Quebec.
Highlights include:
To date, the Company has drilled 13 holes on the Arrowhead Property, comprising 4,305.7 metres. The Company has sent 1,577 rock samples, representing 1,844.75 linear metres, for assay to ALS in Quebec.
The drill program targeted the Cadillac shear zone and intersected prospective geology with a variable amount of quartz veining, brecciation, silicification and quartz stockwork, with associated sulphides.
Visible gold was encountered in a quartz vein shear zone in hole AR-22-13 at a depth of approximately 375.945 metres.
Time-domain downhole EM survey were performed on four holes including AR22-04.
The Company has intersected a section of 16.9 meters (AR-22-04) of silicified mafic tuff interbedded with felsic lapilli tuffs, quart-feldspar veins, and quartz veins.
Company President and chief executive officer Blake Morgan commented, " The Opawica team is thrilled with our maiden drill program on the Arrowhead Project. With visible gold and numerous intersections of up to nearly 17 metres. The team eagerly await assays results and will begin preparations for our phase 2 drill program. Phase two will take place later this year once all data has been received."
The Company has engaged services TMC Geophysics (TMC) of Val-d'or to undertake a downhole 3D Borehole Pulse EM Time Domain survey on four drill holes AR-22-04, AR-22-5, AR22-09 and AR-22-10 (see below). The surveys were done to help identify mineralization that does not have a surface expression.
A 3D Borehole Pulse EM system is used in which an axial component (Z) probe and a cross component (XY) probe measure the three components of the induced secondary field. The first pass with the ‘Z' probe detects any in-hole or off-hole anomalies and gives information on size, conductivity, and distances to the edge of conductors. The second pass with the ‘XY' probe measures two orthogonal components of the EM field in a plane oriented at right angles with the borehole. These results give directional information about the center of the conductive body.
The Arrowhead Project is mainly covered by the metavolcanites of the Blake River Group. Strata are oriented east-west and present a subvertical dip. Volcanic and sedimentary rocks form a series of east-west-trending, steeply dipping monoclinal panels. The sequences are separated by longitudinal contacts parallel to the lithologies. In the southern part of Joannes township, the Cadillac Fault runs along an east-west axis over a lateral distance of about 150 kilometres. In the province of Quebec, more than 40 gold deposits that have produced over 60 million ounces of gold in the past hundred years and are associated with this major structure and its subsidiary faults.*
Figure 1. 3D Borehole Pulse EM system
Derrick Strickland, P. Geo (OGQ No. 35402), independent consultant to the company 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 and in Central Newfoundland and Labrador. 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: 604-681-3170
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) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
Vancouver, B.C. TheNewswire - June 22 nd 2022 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to provide an update on its first phase of drilling at the Company's Arrowhead Property in the Rouyn Noranda camp of the Abitibi in Quebec.
Highlights include:
Twelve holes have been completed on the Arrowhead, comprising 3,603 metres. Core logging and sampling are ongoing.
The drill program was designed to target the well-known Cadillac shear zone and the campaign has intersected prospective geology with varying amounts of visible gold, quartz veining, brecciation and silicification, and quartz stockwork with associated sulphides.
The Company has intersected a section of 16.9 meters (AR-22-04) of silicified mafic tuff interbedded with felsic lapilli tuffs, quart-feldspar veins, and quartz veins.
Company President and chief executive officer Blake Morgan commented, "The drilling has progressed very well, and I really like what I am seeing, especially from hole AR-22-04. It looks like we are on the right track, in the right part of the world. We know this area holds elephant sized deposits at depth, as the La Rhonde mine held by Agnico Eagle is located next door to the Arrowhead Property and goes to depths over 3,000m. The Opawica team is thrilled to be hitting visually exciting mineralisation at shallow depths."
In drill hole AR-22-04, at 129.9m to 146.8m a section of well silicified mafic tuff interbedded with felsic lapilli tuffs, quart-feldspar veins, and quartz veins, with bedding measured at 60⁰-50⁰ to core angle, pyrite varied from 1% to 10%, and trace amounts of pyrrhotite were intersected. Drill hole AR-22-04 was drilled at dip of 55⁰ at 187Az to a depth of 270 m. The true thickness of this section is not known. ( See figure below for picture of the drill core from AR-22-04. )
The Arrowhead Project is mainly covered by the metavolcanites of the Blake River Group. Strata are oriented east-west and present a subvertical dip. Volcanic and sedimentary rocks form a series of east-west-trending, steeply dipping monoclinal panels. The sequences are separated by longitudinal contacts parallel to the lithologies. In the southern part of Joannes township, the Cadillac Fault runs along an east-west axis over a lateral distance of about 150 kilometres. In the province of Quebec, more than 40 gold deposits that have produced over 60 million ounces of gold in the past hundred years and are associated with this major structure and its subsidiary faults. *
Figure 1 Drill Hole AR-22-04 129.9m to 146.8m
Initial prospecting on the Arrowhead started in 1920 on the major shear zone located in the northern part of Opawica's property. In 1926, the exploration works consisted of prospecting, pitting, trenching and diamond drilling, mainly to test two shear zones containing quartz-carbonate veins with free gold. Gold values of up to 45.05 g/t were obtained over appreciable widths. Two main veins, designed as A and B, were explored. This work led to underground exploration that started in 1936. A three-compartment shaft was sunk to a depth of 154 metres. Levels were established at depths of 60.96 m (200 feet), 106.68 m (350 feet) and 152.40 m (500 feet). Drifting and crosscutting were carried out on all three levels on the A and B veins.
Assays are still pending on the Bazooka property which is an ongoing frustration. The Company is working with the labs to exercise a timelier process.
Derrick Strickland, P. Geo (OGQ No. 35402), 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 and in Central Newfoundland and Labrador. 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: 604-681-3170
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) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") is pleased to provide an update on the Arrowhead Property in Rouyn Noranda camp of the Abitibi in Quebec.
Highlights include:
Company president and chief executive officer, Blake Morgan, commented, "Drilling is progressing extremely well on our Arrowhead Property. With several visually exciting holes drilled, the team is looking forward to receiving the assay results. This new Yvan Zone has been a high priority to the Opawica geologists, and we are thrilled to not only have drilled a small portion of it, but to have hit visible gold, adding to our new potential extension theory."
In 2016, the Company collected a total of 36 rock outcrop samples over the entire property to cover the outcropping felsic volcanics. These samples were analysed for multi elements, whole rock oxides and rare earth elements to determine the geochemical alteration and element content. The objective of the rock outcrop geochemistry survey was to delineate favourable zones for gold-rich volcanogenic massive sulphide deposits.
Several type geological geochemistry indexes of the chemistry were generated, these included, PER-GH index, Ishikawa index, Sericite index, Chlorite index Spitz-Darling index, Alkali index, and CCPI (Chlorite Carbonate Pyrite Index). A summary of these indexes is present in Figure 1. Figure 1 visually illustrates four areas of interest. There are three areas on the western part of the property, where the much of the historical drill and current drill program is currently being undertaken, and one the area on the eastern side representing a new exploration target.
As a direct result of the 2016 rock analyses, the Company permitted and drilled two holes into the alteration index anomalies on the east side of the property. Holes AR-22-11 and AR-22-12 both have dip of 50⁰ at 175⁰ Az and depth of 447m and 468m respectively.
A preliminary review of the hole AR22-12 at 375m indicates the presence of a quartz vein structure ~ 3x2cm thick with a bleb of chalcopyrite and trace visible gold (Figure 2 below - the Yvan Zone). The gold occurs in Rhyolite- Felsic volcanic rock which is massive in appearance with weak/discrete foliation 70⁰ core access. The mineralization recognized in the core may represent an unknown extension for the known mineralization on the western part of the Arrowhead property.
Figure 1 - Rock Geochemistry Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1541/126863_f72ba8d364eafb39_001full.jpg
Figure 2 - New Zone Core Sample
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1541/126863_f72ba8d364eafb39_002full.jpg
The Arrowhead project is mainly covered by the metavolcanites of the Blake River Group. Strata are oriented east-west and present a subvertical dip. Volcanic and sedimentary rocks form a series of east-west-trending, steeply dipping monoclinal panels. The sequences are separated by longitudinal contacts parallel to the lithologies. In the southern part of Joannes township, the Cadillac Fault runs along an east-west axis over a lateral distance of about 150 kilometres. In the province of Quebec, more than 40 gold deposits that have produced over 60 million ounces of gold in the past hundred years and are associated with this major structure and its subsidiary faults. *
Derrick Strickland, P. Geo (OGQ No. 35402), 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 and in Central Newfoundland and Labrador. 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
Opawica Explorations Inc.
Telephone: 604-681-3170
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126863
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(TheNewswire)
Vancouver, British Columbia TheNewswire - June 2nd, 2022, (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce that it has completed filming for its upcoming educational documentary series "Viewpoint with Dennis Quaid" ( "Viewpoint" ). The long-running award-winning series, hosted by the well-known actor Dennis Quaid produces educational documentaries on a range of topics including business, technology, travel, health, and culture with a focus on highlighting innovation around the world. Viewpoint is distributed nationwide in the United States through public television stations and major networks; including but not limited to CNBC, FOX Business, Bloomberg TV, Discovery Channel, History Channel, National Geographic and HLN and is aired to over 60 million households in the United States.
Blake Morgan, President, and CEO of Opawica, noted: "We are thrilled to have completed filming as a featured company on Viewpoint with Dennis Quaid. Having this sort of exposure to approximately 60 million homes will dramatically assist in telling the Opawica story. With a big year of drilling, assays, and exploration work ahead of us, Opawica is ready to take the next step.
Background
In 2021, Viewpoint producers reached out to the CEO of Opawica Explorations Inc, Blake Morgan, as part of their search for a featured company to headline a planned episode on Junior Mining and Exploration in Canada. After several months of discussions with senior producers and writers, the Company was chosen and offered the chance to participate. Given the educational aim of the series, one of the primary goals of the episode will be to bring attention to Opawica and their impact on mineral exploration. Opawica's use of AI technology, it's CEO and elite projects fit this mandate, and were significant contributing factors in Viewpoint's selection.
Opawica's management and Viewpoint production team began filming on May 24 th , 2022 and created content to be released to over 60 million homes in approximately July of 2022. In addition to the final products designed for television release, the Company will also retain all the high-definition raw camera footage (5+ hours) for potential future use.
Content & Distribution
There will be two segments produced for television release:
Public Television Segment
This documentary segment aims to educate the audience about the featured topic of the episode – in Opawica's case – the business and technology of mining exploration in Canada. The segment is distributed via public television stations (including PBS) in all US states. Each public television station will have the right to air the segment for one year, and on average these segments appear 45-60 times per quarter, reaching approximately 60 million households.
Educational Commercial Spot for Major Networks
This 60-second educational commercial segment is designed for distribution via major networks in the U.S. It will air once nationally, and 400 times regionally in the top 100 most populous cities. Viewership is estimated at approximately 84 million households, and all airings will occur between 6 – 11p.m. prime time, in their respective time zones. Example networks which will carry the segment include CNBC, FOX Business, Bloomberg TV, Discovery Channel, History Channel, National Geographic and HLN.
Opawica was responsible for paying a participation fee, and crew travel fees, for an aggregate of US$27,900. Most costs were covered through public television funding sources for the series. Viewpoint estimates that costs for a comparable, unsubsidized project (including filming, editing, airings, distribution, Dennis Quaid, ownership, licencing rights, etc.) would typically total in excess of US$250,000.
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 and in Central Newfoundland and Labrador. 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: 604-681-3170
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) 2022 TheNewswire - All rights reserved.
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Solar and wind energy are expected to power 90 percent of the world’s electricity by 2050, accelerating the demand for copper materials needed to supply this transition. While the copper boom is already in motion, driven by demand shortages, an explosive copper price growth is expected to come in the near future and a high copper price environment might last for decades.
Copper producers will need to double the amount of global production just to keep up with a 30 percent penetration rate of electric vehicles (EVs) alone, and in the next two decades, the world must now produce more copper than has ever been produced previously in human history.World Copper (TSXV:WCU,OTCQX:WCUFF,FRA:7LY0) has two outstanding pillars of growth, all located in safe and stable mining jurisdictions across the Americas:
These prime projects comprise over 4 billion pounds of copper in the ground.
Zonia is an advanced, pre-stripped brownfield project in Yavapai County, 100 miles northwest of Phoenix, Arizona. The large 1,732-hectare property has excellent potential for additional discoveries, as there are already known targets that may contain additional copper-porphyry targets. The company is actively working to restart this past producer, along with re-building the mine and SX-EW plant, to produce ~20 kt of copper in cathode per year.
The deposit is located on private patented land, which allows for fast-tracking the project to production with a more streamlined and efficient environmental permitting process.
The Zonia project has a low strip ratio (1:1), excellent access to infrastructure with water and power directly on site, as well as the proven and efficient production technology, which does not require building tailing storage facilities or producing copper concentrates. The project will use conventional mining and crushing, heap leach and electrowinning processes, reducing operational risks compared to similar development projects in the area.
World Copper completed an internal technical review of the exploration and development potential of the Zonia copper oxide project confirming significant potential growth drivers for the Zonia project. The resource expansion targets adjoining the existing Zonia resource provide an opportunity to enlarge the outlined mineralization through step-out drill programs.
In 2023, World Copper updated Zonia’s mineral resource estimate, which includes 75.7 million short tons grading 0.30 percent total copper (indicated resource) containing 450.5 million pounds of copper and 122 million short tons grading 0.24 percent total copper (inferred resource) containing 575.4 million pounds of copper.
The company has filed a technical report on SEDAR for Zonia entitled, "National Instrument 43-101 Technical Report: Updated Mineral Resource Estimate for the Zonia Copper Project Yavapai County, Arizona USA," and was prepared pursuant to NI 43-101 by Hard Rock Consulting.
World Copper has managed to secure the largest new copper-oxide asset, currently in exploration and development, in Chile through its Escalones project. Early estimates reveal it could become a major copper producer using heap leaching to produce copper in cathodes, at very competitive costs when compared to other similar copper deposits found throughout Chile and Latin America.
World Copper reported an updated inferred resource estimate of 426 million tonnes at 0.37 percent total copper in the oxidized zone at the Escalones project, confirming its potential for development as a sizable copper-oxide deposit.
In 2022, World Copper also completed 1,676 meters of additional drilling along the western-most, road-accessible edge of the Mancha Amarilla zone confirming copper-oxide mineralization that extends at least 150 meters south from previous drilling, and oxidation extends to depths of 280 meters below the ridge.
Gordon Neal is a distinguished professional in the metals and mining industry, with a comprehensive background in capital markets, corporate governance, finance and investor relations. He is the previous CEO and director of Tincorp Metals. Other previous corporate leadership roles include, president of New Pacific Metals, vice-president of corporate development at both Mag Silver and Silvercorp Metals. His governance and strategic insights have also been instrumental on the boards of companies such as Falco Resources, Balmoral Resources, Americas Petrogas, Rock Gate Capital, and Wealth Minerals. Neal founded Neal McInerney Investor Relations in 1991, where under his leadership, the firm achieved remarkable growth by successfully marketing over $4 billion in debt and equity financings, ascending to become Canada's second-largest full-service investor relations firm with a presence in Vancouver, Toronto and Los Angeles.
Henk van Alphen has more than 30 years of experience in the mining industry. He has been a key player in companies such as Corriente Resources, Cardero Resources, Trevali Mining, Balmoral Resources, and International Tower Hill. He also founded Wealth Minerals in 2005 and has raised over $1 billion raised in various financial transactions via van Alphen’s involvement.
Marcelo Awad has a long and distinguished career in the mining industry 18 years with Codelco, most recently as executive vice-president for 16 years with Antofagasta Minerals, the Mining Division of Antofagasta, including eight years as CEO from 2004 to 2012, a period of significant growth for Antofagasta. In the 2011 Harvard Business Review, Awad was ranked as the number one CEO in Chile, 18th in Latin America and 87th in the world.
Krzysztof Napierala is a professional with 14 years of experience in mining and manufacturing industries. He is a driven executive with a strong background in business development, exploration, project management, and the management and restructuring of mining operations. His career is highlighted by over ten years with the KGHM Group, one of the world’s largest copper and silver miners, where he started as an associate in the exploration and development team, supporting the company’s business development activities and new acquisitions.
John Drobe is a geologist with over 30 years of experience specializing in porphyry copper-gold, epithermal and skarn deposits throughout the Americas. Drobe has deep experience with organizing and managing exploration campaigns, particularly in South America, where he has participated in the exploration and development of projects in Peru, Argentina, Ecuador, Venezuela and Chile.
Marla Ritchie brings over 25 years of experience in public markets working as an administrator and corporate secretary specializing in resource-based exploration companies. Currently, she is also the corporate secretary for several companies, including International Tower Hill Mines Ltd. and Trevali Mining Corporation.
TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pre-announcing certain items impacting the Company's quarterly earnings, adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") 1 adjusted earnings 1 and adjusted earnings per share 1 .
Foreign Exchange and Derivatives
Items of significant impact in the first quarter 2024 are expected to include unaudited foreign exchange and trading gains on debt and equity investments supporting the capital funding for the Josemaria Project of approximately $8 million on a pre-tax basis, unaudited realized gains on foreign exchange and diesel derivative contracts of approximately $4 million on a pre-tax basis and unaudited realized gains on foreign exchange of approximately $11 million on a pre-tax basis, primarily relating to payments in Chilean pesos during the quarter.
In the first quarter 2024 the Company is also expected to recognize certain non-cash items that will impact the Company's earnings but not adjusted EBITDA, adjusted earnings or adjusted earnings per share. These include an unaudited non-cash unrealized gain on foreign exchange of approximately $16 million on a pre-tax basis, primarily due to the weakening of the Chilean peso during the quarter, and an unaudited non-cash unrealized loss of approximately $53 million on a pre-tax basis related to the mark-to-market valuation of the Company's unexpired foreign exchange and diesel derivative contracts. Unexpired foreign exchange derivative contracts include zero cost collar contracts of $921 million (equivalent to 898 billion Chilean pesos) entered into during the first quarter 2024 and expiring in the remainder of 2024 through 2026.
Provisional Pricing Adjustments
Revenue in the first quarter 2024 is expected to be positively impacted by unaudited provisional pricing adjustments on prior period concentrate sales of approximately $2 million on a pre-tax basis. These adjustments primarily include upward adjustments in relation to copper and nickel sales, partially offset by downward adjustments on molybdenum and zinc sales.
The financial results for the three months ended March 31, 2024 , will be published on Wednesday, May 1, 2024.
About Lundin Mining
Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina , Brazil , Chile , Portugal , Sweden and the United States of America , primarily producing copper, zinc, gold and nickel.
The information was submitted for publication, through the agency of the contact persons set out below on April 17, 2024 at 14:30 Pacific Time .
__________________________________ |
1 These measures are non-GAAP measures. These performance measures have no standardized meaning within generally accepted accounting principles under International Financial Reporting Standards and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. For additional details please refer to the Company's discussion of non-GAAP and other performance measures in its Management's Discussion and Analysis for the year ended December 31, 2023 which is available on SEDAR+ at www.sedarplus.com . |
Cautionary Statement on Forward-Looking Information
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any Preliminary Economic Assessment, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; the Company's integration of acquisitions and any anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, nickel, zinc, gold and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: global financial conditions, market volatility and inflation, including pricing and availability of key supplies and services; risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; volatility and fluctuations in metal and commodity demand and prices; significant reliance on assets in Chile ; reputation risks related to negative publicity with respect to the Company or the mining industry in general; delays or the inability to obtain, retain or comply with permits; risks relating to the development of the Josemaria Project; health and safety laws and regulations; risks associated with climate change; risks relating to indebtedness; economic, political and social instability and mining regime changes in the Company's operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; inability to attract and retain highly skilled employees; risks inherent in and/or associated with operating in foreign countries and emerging markets, including with respect to foreign exchange and capital controls; project financing risks, liquidity risks and limited financial resources; health and safety risks; compliance with environmental, unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; changing taxation regimes; the inability to effectively compete in the industry; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; risks related to mine closure activities, reclamation obligations, environmental liabilities and closed and historical sites; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; information technology and cybersecurity risks; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; community and stakeholder opposition; regulatory investigations, enforcement, sanctions and/or related or other litigation; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may not be reliable; enforcing legal rights in foreign jurisdictions; risks associated with the use of derivatives; risks relating to joint ventures and operations; environmental and regulatory risks associated with the structural stability of waste rock dumps or tailings storage facilities; exchange rate fluctuations; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; risks relating to dilution; risks relating to payment of dividends; counterparty and customer concentration risks; activist shareholders and proxy solicitation matters; estimation of asset carrying values; relationships with employees and contractors, and the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; conflicts of interest; existence of significant shareholders; challenges or defects in title; internal controls; risks relating to minor elements contained in concentrate products; the threat associated with outbreaks of viruses and infectious diseases; and other risks and uncertainties, including but not limited to those described in the "Managing Risks" section of the Company's MD&A and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2023 , which are available on SEDAR+ at www.sedarplus.com under the Company's profile.
All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
SOURCE Lundin Mining Corporation
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Trident Royalties (AIM:TRR,OTC:TDTRF) provides investors with exposure to lithium, gold, copper, silver, iron ore, and other commodities (excluding thermal coal) through its diversified commodity portfolio. Trident is establishing itself as a royalty company using a unique royalty model that brings under its umbrella the entire gamut of the mining industry. This should attract investors willing to participate in the growth of metals such as lithium and copper, without taking the risk associated with investing directly in the mining companies themselves.
The company has acquired 21 assets (royalties and gold offtake agreements), of which 13 are currently cash-flowing. While the current revenue mix is weighted toward gold, asset-level developments across the portfolio, specifically at the Thacker Pass (lithium) and Mimbula (copper) projects, continue to indicate a higher mix of lithium and copper royalty revenue going forward. Thacker Pass is on track to be the largest lithium producer in North America within the next three years.
Trident has developed a portfolio that not only provides material revenue today but includes a tangible growth profile to significantly grow revenue over the next few years. A significant portion of future revenue is underpinned by assets already in construction, including Thacker Pass, Mimbula (in production, ramping-up) and Greenstone (discussed in detail below). Longer-term revenue growth is supported by a mix of expansions and new project development.
This Trident Royalties profile is part of a paid investor education campaign.*
Click here to connect with Trident Royalties (AIM:TRR,OTC:TDTRF) to receive an Investor Presentation
Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is providing an update on the Ambler Access Project - the proposed 211-mile, industrial-use-only road from the Upper Kobuk Mineral Projects to the Dalton Highway that would enable the advancement of exploration and development at the Ambler Mining District, home to some of the world's richest known copper-dominant polymetallic deposits.
On April 16, 2024 , the Alaska Industrial Development and Export Authority ("AIDEA") issued a press release in response to media reports indicating the Department of Interior plans to block access to the Ambler Mining District by issuing a "no action" decision. In its press release, AIDEA strongly urges the Department of Interior to comply with federal law and the promises made at statehood to allow access to state lands and minerals for the Ambler Access Road Project.
AIDEA's press release can be found on their website at https://www.aidea.org/About/News-Publications/Press-Releases .
Ambler Metals LLC, our 50/50 joint venture with South32 Limited also responded on April 16, 2024 with a media statement. "We are stunned to hear reports that BLM may deny the Ambler Access Project, which received full federal approval four years ago and would enable safe and responsible domestic production of minerals that are critical for our national security and clean energy technologies," said Kaleb Froehlich , Managing Director of Ambler Metals. "If true, this decision ignores the support of local communities for this project, while denying jobs for Alaskans and critical revenues for a region where youth are being forced to leave because of a lack of opportunity. A denial would also undermine the promise made to Alaskans in the Alaska National Interest Lands Conservation Act, which guaranteed a right-of-way for this crucial project. We strongly urge BLM to reconsider what would clearly be an unlawful and politically motivated decision that goes well beyond the narrow set of issues the courts agreed to allow the agency to address."
With cash totaling over $32 million , including our share of cash at the joint venture, Trilogy is well positioned to engage with our key stakeholders and consider options and next steps.
Trilogy Metals Inc. is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the Upper Kobuk Mineral Projects in northwestern Alaska . On December 19, 2019 , South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler Mining District – the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods.
This press 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 the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, perceived merit of properties and claim blocks, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the uncertainties involving our ability to conserve cash, or at all and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2023 filed with Canadian securities regulatory authorities and with the United States Securities and Exchange Commission and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.
View original content: https://www.prnewswire.com/news-releases/trilogy-metals-provides-update-on-the-ambler-access-project-302119033.html
SOURCE Trilogy Metals Inc.
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Prices for several metals jumped this week as the London Metal Exchange (LME) banned metal produced in Russia from its system. The moratorium applies to material produced on or after April 13 of this year.
The restrictions apply to copper, nickel and aluminum, and were passed down by the US Department of the Treasury and the British government on April 12. They are also in place for the Chicago Mercantile Exchange (CME).
This move aims to curb financial flows that fuel Russia's military activities in Ukraine, which began in February 2022.
According to Bloomberg, aluminum soared as much as 9.4 percent, marking its highest jump since 1987, while nickel increased by 8.8 percent, signaling traders' confidence that removing a major producer will boost prices.
Copper, the third metal affected by the ban, saw a 1.6 percent bump amid an ongoing bull market.
Russia is a major producer of all three metals, contributing 6 percent of the world's nickel, 5 percent of its aluminum and 4 percent of its copper. As of March, 91 percent of the aluminum in LME-approved warehouses came from Russia, while Russian copper accounted for 62 percent of LME stockpiles. Thirty-six percent of LME nickel was from Russia.
Even with the sanctions in place, owners of Russian metal produced before April 13 can still place their metal on LME warrant, provided they furnish evidence of production dates.
The ban will affect major Russian metal producers such as Rusal (MCX:RUAL), one of the world’s largest producers of aluminum, and Norilsk Nickel (MCX:GMKN), which mines metals including nickel.
Despite this, market watchers do not foresee any immediate supply shocks.
"From a fundamental perspective, it is important to recognise that these exchange focused rule adjustments will not generate a necessary supply-demand shock," noted one Goldman Sachs (NYSE:GS) analyst.
Rusal is also optimistic that the sanctions will not have a significant impact on its supply streams.
"The announced actions have no impact on Rusal's ability to supply since Rusal's global logistic delivery solutions, access to banking system, overall production and quality systems are not affected," the company told Reuters.
Rusal shares dipped by 1.7 percent on Moscow's stock exchange post-announcement.
The company also explained that the measures primarily affect the LME and derivatives; it will be able to keep providing hedging services and will stay committed to market-based pricing.
Some analysts have observed that while both Norilsk Nickel and Rusal predominantly trade under bilateral contracts, their shipments may decrease, potentially leading to a new discount to exchange prices.
Amid the new LME and CME sanctions on Russian metal, Reuters reported on Monday (April 15) that Russian copper producer RCC and Chinese firms have found a way to bypass taxes and evade the impact of existing western sanctions by engaging in trades where new copper wire rod is disguised as scrap.
This deceptive activity involves the shredding of copper wire rod in China's Xinjiang Uyghur region by an intermediary, making it difficult to differentiate from scrap.
By doing so, both exporters and importers profit from the disparity in tariffs applied to scrap and new metal.
Russia's export duty on copper rod stood at 7 percent in December, lower than the 10 percent levy on scrap, while imports of copper rod into China face a 4 percent tax; that's compared to no duty on Russian scrap imports.
This method of circumventing regulations began in December, and has led to discrepancies between Chinese and Russian data, with Chinese customs reporting a significant increase in copper scrap imports from Russia, contrasting sharply with negligible amounts recorded in Russian data.
While RCC maintains it only supplies products to Russian companies, concerns persist about the potential repercussions of such trade maneuvers amid international scrutiny. The disguising of new copper wire rod as scrap not only evades taxes, but also complicates identification and tracing, facilitating its sale to Chinese manufacturers.
As the situation evolves, market watchers and investors are closely monitoring developments, including any potential retaliatory measures from Russia or further sanctions imposed by international bodies.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") has reviewed initial data processed from its Ambient Noise Tomography (ANT) survey conducted over the Tatiggaq anomaly during the summer of 2023, The survey successfully established new drill targets over a one plus kilometer east-northeast extension along the Tatiggaq fault zone, which hosts the high-grade Tatiggaq uranium discovery at Forum's 100% owned Aberdeen Project in the Thelon Basin, Nunavut. The Aberdeen project comprises 95,500 hectares and is located adjacent to Orano's 133 million pound Kiggavik uranium project* (Figure 1).
Dr. Rebecca Hunter, Forum's VP, Exploration commented, "The ANT survey may be a game-changing geophysical method for targeting unconformity systems in the northeast Thelon Basin. By measuring the velocity change interfaces throughout our anomalies, we can potentially image the faults that host the mineralization and the location of the mineralized bodies themselves. The survey results obtained suggest we will be able to target our drilling with a much higher degree of precision than what could be done in the past. I am very excited to resume on our Aberdeen Project in 2024."
HIGHLIGHTS
Tatiggaq Deposit
Forum drilled four holes in 2023 and the first two holes targeted the Tatiggaq Main area. The objective was to drill through to main mineralized zone at a more optimal angle and show that the mineralization is within a series of steep-dipping, high-grade lenses. TAT23-001 was lost and TAT23-002 intersected 2.25% U3O8 over 11.1 from 148.5 to 159.6 m (incl. 3.32% U3O8 over 3.1 m). TAT23-003 and TAT23-004 were drilled along trend to the SW up to 200 m from TAT23-001/-002. These holes were designed to infill and expand known areas of mineralization at Tatiggaq West. TAT23-003 intersected 0.40% U3O8 over 12.8 m from 136.0 to 148.8 m (incl. 1.08% U3O8 over 1.3 m) and TAT23-004 intersected 0.40% U3O8 over 18.9 m from 151.4 to 170.3 m (incl. 1.01% U3O8 over 6.2 m).
Mineralization within the Tatiggaq deposit consists of two zones - the Main and West Zones and is located at depths between 80 and 180 m. The mineralization is hosted in a series of high-grade subparallel, steep, south-dipping fault zones that sit within a 50 m wide area (Figure 2). Individual high-grade mineralized structures are up to 10 m in width. The strike extent of the Main Zone is at least 60 m but is open to the northeast and the West Zone is now 150 m in strike length and is open to the southwest. Further delineation is required between the two zones to determine if they are connected. In addition, the entire 0.7 km wide by 1.5 km long Tatiggaq gravity anomaly remains open for additional uranium mineralization both along strike of the known zones but also along numerous sub-parallel fault zones to the north and south.
Ambient Noise Tomography Survey (ANT)
The ANT survey is a passive seismic technique that detects seismic waves by natural sources like ocean wave action that is then used to image the subsurface.
In 2023, Patterson Geophysics Inc. (PGI) was contracted to deploy and recover a total of 475 seismic 1D Nodular Recording Units (NRUs) over the Tatiggaq (Figure 3), Ned and Bjorn grids. Geophysical Technology Inc. NuSeis NRUN1 autonomous seismic nodal recording units were used for the survey. In total, 475 NRUs were deployed in three (3) grid areas on the Aberdeen Project in July 2023. 344 NRUs were deployed on the Tatiggaq grid at 60 m intervals; 77 NRUs were deployed on the Ned grid at 150 m intervals, and 54 NRUs were deployed on the Bjorn grid at 150 m intervals. The PGI crew returned to the Thelon project to retrieve the NRUs after a recording period of 24-26 days. The data was downloaded from the NRUs using GTI's Portable Data Management system and a GTI-supplied laptop with NuSite, NuSeis, and NuScribe software.
Ongoing data processing is being completed by Ambient Reservoir Monitoring Inc. (ARM) through the direction of Kyle Patterson at Convolutions Geoscience. A preliminary 3D slice of the processed velocity data is shown for the Tatiggaq Grid (Figure 4).
*Source: Areva Resources Canada Inc., The Kiggavik Project, Project Proposal, November 2008 and Kiggavik Popular Summary, April, 2012 submission to the Nunavut Impact Review Board.
Rebecca Hunter, Ph.D., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano's uranium deposits are along the same controlling structures as Forum's Tatiggaq deposit and over 20 other targets are present within the project, which could host additional uranium deposits similar to the Athabasca Basin.
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Figure 2 The Tatiggaq Main and West zones are interpreted to be a series of near vertical, uranium- bearing lenses that trend for 1.5 km. The width of the mineralized section is interpreted to be approximately 50 m but its total width is not yet determined. TAT23-002 only intersected two of these lenses that were intersected in near vertical holes by Cameco's previous drilling (for example 0.85% over 13.7m in hole TUR14A). Proposed future drill holes will target mineralization to intersect the true width of the zone and its strike extent.
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Figure 3 Location of Nodular Recording Units deployed at the Tatiggaq Grid.
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Figure 4 ENE-WSW section through the Tatiggaq Grid showing the ANT processed 3D velocity data. Data viewed in Leapfrog Geo. Velocity data highlights steep NW-trending faults and changes in velocity are possible interfaces of different alteration strengths and/or rock units. Interpretation is still preliminary.
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About Forum Energy Metals
Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho.
For further information: https://www.forumenergymetals.com.
This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205494
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