(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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When it comes to mining deposits, there’s no denying the potential output Peru has to offer. In 2022, Peru produced 2.2 million metric tons of copper, making it the world’s second-largest producer of copper. Peru was also one of the largest gold producers in 2022, ranking 9th in the world.
The mining-friendly country’s appeal has attracted the likes of several major mining companies, including Southern Copper (NYSE:SCCO), Freeport-McMoRan (NYSE:FCX), Hudbay Minerals (NYSE:HBM,TSX:HBM), Barrick Gold (TSX:ABX,NYSE:GOLD), Teck Resources (TSX: TECK.A and TECK.B, NYSE: TECK), Rio Tinto (NYSE:RIO), and many more. As a result, mineral exploration companies with projects in Peru may provide investors with an exciting opportunity for investments into a resource-rich country.
Forte Minerals (CSE:CUAU,FSE:2OA,OTCQB:FOMNF) controls assets acquired from its strategic project generative partner GlobeTrotters Resources Peru SAC and an Alta Copper (ATXV: ATCU) option deal to form an attractive portfolio of high-quality copper and gold assets in Peru. The company’s portfolio combines early-stage and drill-ready targets with a historically discovered and drilled porphyry system that is strategically positioned for copper and gold resource development.Forte Minerals Portfolio
Forte Minerals has a strong land position of 12,000 hectares in Peru, including the Pucarini, Don Gregorio and Esperanza projects. The Don Gregorio project is a 900-hectare copper and gold porphyry project with gold and copper mineralization occurring on the subsurface. This project is under option by Forte Minerals from Alta Copper (previously Candente Copper), whereby Forte Minerals can acquire a 60-percent interest in Don Gregorio by cash payments of US$500,000 over three years, and 10,000-meter diamond drilling over three years upon receipt of drill permits.
The company’s 100-percent-owned Pucarini project is a gold project with a high sulfidation epithermal gold target located in Puno, Peru. The Pucarini project consists of 1,000 hectares of primary target claims and 6,100 hectares of regional concessions. The project also has an NI 43-101 Technical Report from February 2021.
The company’s fully owned Esperanza project is a 4,000-hectare copper and molybdenum porphyry project located in the prolific and mining-friendly Paleocene belt of Southern Peru. The Paleocene belt hosts many of the largest existing porphyry copper mines and recent discoveries. The Esperanza project has not yet been tested by drilling but holds exciting exploration potential.
The team at Forte Minerals boasts deep-seated roots within Peru's mining and exploration community. With a combined experience surpassing 215 years in exploration and mining throughout the Americas, the company’s standing is anchored by its profound community relationships and consistent track record of exploration successes.
Among the company’s esteemed cohort is a former principal geologist and general manager for Teck Resources in Peru, Manuel Montoya, who now champions Forte Minerals’ projects, ensuring every stage aligns with the highest standards. This addition solidifies the company's commitment to blending international expertise with local understanding.
Understanding the complexities of exploration, Forte Minerals also incorporated a full-time in-house social team. This team is more than just a nod to corporate responsibility – it's a testament to the company’s foundational belief that community ties are as vital as geological prospects and exploration.
In pursuing holistic growth and sustainability, Forte Minerals recently collaborated with Social Suite, signaling the commencement of an insightful ESG (environmental, social and governance) reporting journey. This partnership underscores Forte's vision to set industry benchmarks, especially in community engagement, environmental stewardship and its broader societal obligations.
Forte Minerals isn't just exploring terrains; it’s also pioneering a future where its mission amplifies ESG initiatives. The company’s promise remains unshaken: to strengthen community bonds, champion environmental conservation, and uphold societal commitments with unparalleled vigor.
The company hopes to take advantage of near-surface and underexplored metal endowments that are rich in copper and gold in Peru. Forte Minerals plans to leverage unique targeting methods and an effective alteration identification process. The company also aims to advance its projects with the anticipation of drilling permits and additional exploration and thousands of meters of drilling on its properties.
The Don Gregorio project is a 900-hectare copper and gold porphyry asset located in Peru.
The property features the historic exploration of 13 relatively shallow diamond drill holes completed on one section corridor since 1977. Both copper and gold mineralization was found in all 13 historical holes. The Don Gregorio project features enrichment grades of up to 0.8 percent copper and primary grades of up to 0.04 percent copper and 0.15 grams per ton (g/t) of gold.
The property is under option by Forte Minerals from Candente Copper Corp. Forte can acquire a 60-percent interest in Don Gregorio subject to cash payments of $US500,000 over three years and a total of 10,000 meters of diamond drilling over three years upon receipt of drill permits.
In 2021, the company began permitting and community engagement on the property. Going forward, Forte Minerals plans to begin phase 1 of a target evaluation drilling program consisting of 5,000 meters as well as preliminary metallurgical studies. The company believes the Don Gregorio project hosts excellent exploration potential to develop into a world-class porphyry copper-gold deposit.
The Esperanza project is a 5,000-hectare copper and molybdenum porphyry project located in the prolific and mining-friendly Paleocene belt of Southern Peru. The Paleocene belt hosts existing porphyry copper mines and recent discoveries.
The project is fully owned by Forte Minerals. It is currently untested by drilling but remains prospective for copper sulfide mineralization. In 2021, the company conducted permitting and target development, including geophysics. Going forward, the company plans to begin phase 1 of its drilling program consisting of 2,000 meters in 2023.
The Pucarini project is a gold project located in Puno, Peru. The property consists of 1,000 hectares of claim and 6,100 hectares of regional concessions. The Pucarini project is accessible by airport and road with proximity to a highway network and electricity. The project features multiple gold-bearing advanced argillic alteration zones within a 3.6 by 1.8-kilometer argillic alteration footprint. The project also contains a Miocene high sulfidation epithermal gold target.
Patrick Elliott has more than 18 years of experience in the mining industry. Elliott has a Master of Science in mineral economics and an MBA in mining finance from the Curtin University of Technology in Perth, Australia. He is currently the President & CEO of Lexore Capital Corp., the vice-president of strategy for GlobeTrotters Resource Group and a director of E29 Resources and MLK Gold. He completed his undergraduate Bachelor of Science in geology at the University of Western Ontario. Elliott has spent over 10 years in copper and gold exploration in South America and the United States of America.
Richard Osmond has over 25 years of experience in the mining sector, including experience with INCO (VBNC), Falconbridge and Anglo American. He was involved in exploration discoveries at Vale’s Voisey’s Bay deposit and Glencore’s Raglan mine. He was later hired as a senior technical leader with Anglo American. At Anglo American, Osmond was responsible for nickel exploration in Northern Canada, Alaska and Scandinavia as well as IOCG and porphyry Cu-Mo exploration in Mexico and Alaska. Osmond is currently the president and CEO of GlobeTrotters. Osmond holds an Honors Bachelor of Science from Memorial University.
Stephanie Ashton has more than 25 years of experience in the mining industry and natural resources sector. Specifically, Ashton’s experience is in the exploration and development of mining projects. In Latin America, she served on the boards of junior mining companies and as an officer in the capacity of CFO and the vice president of corporate development. Ashton holds a Bachelor of Science in international business from California Polytechnic State University, a master’s in business from the HEC School of Management and a master’s in mineral economics from the Universidad de Chile.
Douglas Turnbull is a consulting geologist with over 30 years of experience in diamond, precious and base metal exploration. He holds an Honors Bachelor of Science degree in geology and is a Qualified Professional Geoscientist recognized by the Engineers and Geoscientists of British Columbia. Turnbull has managed or served on the boards of a number of junior exploration and mining companies with assets ranging from early- to advanced-stage projects worldwide. Turnbull holds an Honors Bachelor of Science in geology from Lakehead University.
Richard Leveille has an accomplished career that spans over 40 years. He attended the University of Utah, graduated with a B.Sc. in geology, and later completed his master's in geology from the University of Alaska. His work experience progressed through companies such as AMAX, Kennecott, Rio Tinto and Phelps Dodge. Leveille was also the senior vice-president of exploration for Freeport Copper & Gold, where he managed the team that helped add significant copper to reserves and made the Chukarui Peki discovery in Serbia, which shared the 2016 PDAC Thayer Lindsley International Mineral Discovery Award. Since his retirement at Freeport in 2017, Leveille has been working as a consulting geologist focusing on mineral exploration projects in Australia, South America and the United States.
Jasmine Lau has an extensive background in the resource sector and has served as CFO of several public exploration companies with international projects. Lau previously worked at Teck Resources and Deloitte & Touche LLP’s Vancouver Assurance & Advisory group, where she focused on audits of public mining companies. She holds a Bachelor of Commerce from the University of British Columbia.
Manuel Montoya is a founder and general manager of GlobeTrotters, Element 29 and Forte Minerals. Montoya is a highly respected exploration professional with more than 43 years of experience in the mining and petroleum industries of Peru. He discovered the Zafranal Cu-Mo porphyry deposit in Peru for Teck. He has also successfully built and led teams exploring for copper, gold and zinc in a wide variety of deposit types throughout the Andes of South America for Teck.
Anna Dalaire has 15 years of capital markets experience specializing in compliance and corporate communications. During her career, she has worked extensively with junior exploration companies in various corporate capacities. Dalaire’s background is in marketing with a focus on digital communications. Dalaire obtained her executive assistant and paralegal certificates.
Mike Carter has been a significant figure in renewable energy for over 25 years. As a founding partner at First Green Energy, Carter helped push forward new developments in renewable energy. He has led essential mineral exploration projects in Chile and Peru and has taken charge of significant initiatives in solar energy, energy storage and hydroelectric projects. His strong leadership at First Green Energy and experience in sectors like mining, manufacturing, agriculture and the automotive industry speak for themselves. Carter highlighted the benefits of combining renewable energy with traditional mining at the World Bank's Climate Smart Mining conference. He's known for working with top mining companies providing expertise in adding solar energy to their operations. He helped develop and secure over $15 million in grant funding to demonstrate new viable technologies at a significant profit. This served as a template resulting in successful exits from follow-on projects which bid Canadian record-breaking rates into the Province of Alberta’s call for power. His work in agrivoltaics – combining solar projects with farming – is an excellent example of his ongoing innovative approach towards energy development.
Tom Henricksen has more than 35 years of experience in the mining industry. Henricksen is an exploration geologist with many discoveries, including Constancia, Corani and Ollachea while consulting Rio Tinto. He was instrumental in the resource development of Zafranal for AQM Copper and the discovery of Franke in Chile for Centenario Copper (Quadra) and Hot Maden in Turkey. Henricksen is a recipient of the 2018 Colin Spence Award.
Ricardo Labó is a Peruvian mineral economist with more than 22 years of industry experience in Peru, Latin America and Africa, both in the public and private sectors. He is currently the country manager in Peru for Element 29 (TSXV: ECU), a partner at LQG Energy and Mining Consulting, General Manager of LQG Ambiental and Executive Director of the Australia Peru Chamber of Commerce.
He has held several high-level positions in the Ministry of Energy and Mines of Peru including Vice Minister of Mines, advisor to the Minister of Energy and Mines as well as director of mining promotion and development where he successfully promoted responsible mining exploration and development investment in the country. In the private sector, he held several senior positions at Rio Tinto, Roche, Phelps Dodge and Grupo Apoyo, provided strategic advisory and consultancy services to several international mining companies and institutions, and was a board member of several private and state-owned mining and energy companies.
Since November 2013, Peter Espig has been the president and CEO of Nicola Mining (TSX-V: NIM). He has been active in the turnaround of mining projects and has functioned in management and director roles for numerous mining companies. He is experienced in the analysis of investment opportunities, raising capital, deal sourcing, financial structuring, and corporate turnaround.
Espig served as vice-president of the Principal Finance and Securitization Group and Asia Special Situations Group for Goldman Sachs Japan. Prior to joining Goldman Sachs, Espig was vice-president of Olympus Capital, a New York private equity firm, where he participated in corporate restructurings, investment analysis and financing negotiations for both domestic and international investments.
Description
The suspension of trading in the securities of Cyprium Metals Limited (‘CYM’) will be lifted from the commencement of trading on Thursday, 21 September 2023, following the release by CYM of an announcement regarding the completion of a capital raising and confirmation of satisfaction of ASX’s conditions for reinstatement.
Issued by
Raj Logarajah
Senior Adviser, Listings Compliance (Perth)
Click here for the full ASX Release
This article includes content from Cyprium Metals, 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.
Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE: PM / FSE: FIRA / OTCQX(TM): PMMCF) is pleased to announce that it has obtained CSE approval of a reduction in the exercise price of a total of 1,708,588 warrants, on a post consolidated basis, issued in connection with its November 2022 private placement (the "2022 Warrants"). As detailed in the Company's August 10, 2023 news release, the 2022 Warrants had a pre-consolidation exercise price of $0.19 which has now been reduced to $0.095, on a post-consolidated basis.
In compliance with CSE policies, a maximum of 177,778 2022 Warrants held by an insider has been repriced, and 69,185 2022 Warrants will continue to have a pre-consolidation exercise price of $0.19 (post-consolidation exercise price of $0.475).
Approval of a reduction in the exercise price of 6,884,400 post-consolidated warrants issued in March 2023 from $0.21 to $0.105, on a post-consolidated basis, remains pending.
ABOUT PAMPA METALS
Pampa Metals is listed on the Canadian Stock Exchange (CSE: PM), Frankfurt (FSE: FIRA), and OTC (OTCQB(TM): PMMCF) exchanges, and wholly owns a portfolio of projects highly prospective for copper, molybdenum, and gold along proven and highly productive mineral belts in Chile, the world's largest copper producer. www.pampametals.com
ON BEHALF OF THE BOARD
Joseph van den Elsen
President & CEO
INVESTORS CONTACT
Joseph van den Elsen
President & CEO
joseph@pampametals.com
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Pampa Metals expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects" and similar expressions, or that events or conditions "will" or "may" occur. These statements are subject to various risks. Although Pampa Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in forward-looking statements.
True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to report high-grade assay results froma further three holes (MOXD218, MOXD219 and MOXD221) of its initial diamond drilling program at the Vero Resource, part of its 100%-owned Mt Oxide Project (located 110km north of Mount Isa, Queensland).
These results continue to confirm the Vero Resource hosts large-scale, high-grade copper-cobalt-silver mineralisation.
TNC previously announced an intercept of 66.50m (48.00m*) @ 4.95% Cu, 32.7g/t Ag and 686 ppm Co from 234.00m from the first drillhole of the program, MOXD2171.
Highlights
True North Copper’s Managing Director, Marty Costello said:
“The latest diamond drilling results from Vero validate Mt Oxide’s potential, providing further confidence for TNC following our initial result in MOXD217 which had an estimated true width of nearly 50m at 4.95% copper. Today’s results which include an intersection of 7.65% copper over 4m demonstrate the high-grade nature of copper mineralisation in the area and further extension of the Vero Resource’s high-grade ore body.
Our Mt Oxide Project and its Vero Resource are underexplored and this is the first significant on-ground exploration since 2012. This drilling program allows us to extend the Vero Resource and its incredibly impressive mineralisation. It also allows us to develop our exploration program and target new discoveries much more efficiently across the entire Mt Oxide Project.
The Mt Oxide Project is showing all the signs of a significant critical minerals project in a Tier 1 jurisdiction. We’re rapidly advancing our knowledge of a phenomenally mineralised system and we’re using this information to develop our mining studies and find new discoveries.
The latest assay results provide us with continued confidence in our 100% owned Vero Resource. We will use the results from this program to update existing copper, silver and cobalt resource estimates for the Vero Resource.
Copper sulphate production at our Cloncurry Project in Queensland is also consistently increasing since it commenced in July, providing the Company with valuable cashflow to support our exploration program at Mt Oxide.”
Figure 1. Location and regional geological framework Mt Oxide Project
Summary of TNC’s Drill Intersections to date
MOXD218, MOXD219 and MOXD221 were drilled in July and August 2023 with the aim of extending the steeply dipping high grade breccia style mineralisation down dip and to infill the shallowly dipping stratiform replacement and stockwork vein style mineralisation at the Vero Deposit (15.98 Mt at 1.43% Cu and 6.91 g/t Ag total combined Measured, Indicated, and Inferred resource and a separate 9.15 Mt at 0.23% Co total combined Measured, Indicated, and Inferred resource2).
Intercepts from MOXD219 and MOXD221 confirm the grade and tenor of the shallow flat lying mineralisation and have infilled and extended the drilled tested footprint of the steep mineralisation (Table 1). These intercepts will likely have a positive impact on the confidence and contained metal in future resource estimates.
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This article includes content from True North Copper 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.
Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE: PM / FSE: FIRA / OTCQXtrademark: PMMCF) has today announced its intention to launch a non-brokered private placement offering (the "Offering") of up to 5,000,000 units ("Units") at a price of $0.05 per Unit for gross proceeds of up to $250,000. Each Unit consists of one fully paid common share and one purchase warrant entitling the holder to acquire an additional common share at a price of $0.075 for a period of 3 years after the closing of the Offering. Proceeds from the Offering will be primarily used to assess, and potentially acquire, advanced stage copper project(s) in The Americas.
Non-Brokered Private Placement
Following the 11 September 2023 News Release confirming the issuance of 9,000,000 units at a price of $0.05 per Unit for gross proceeds of $450,000, the Company now intends to launch a non-brokered private placement offering (the "Offering") of up to an additional 5,000,000 Units, for additional gross proceeds of up to $250,000.
Each Unit consists of one fully paid common share and one purchase warrant entitling the holder to acquire an additional common share at a price of $0.075 for a period of 3 years after the closing of the Offering.
The closing of the Offering may occur in one or more tranches, with the final tranche expected to occur on or before Friday 13 October, 2023, and is subject receipt of all necessary regulatory approvals.
Use Of Proceeds
Proceeds from the Offering will be primarily used to assess, and potentially acquire, advanced stage copper project(s) in The Americas, where the application of the Company's technical and commercial expertise in exploration, resource delineation and feasibility studies can be applied to creating value for shareholders. High quality copper projects in other jurisdictions which meet our criteria will be assessed on an opportunistic basis.
Specifically, the Company is seeking to acquire a project with the following characteristics:
A small number of projects with the potential to meet the above criteria are in the early stages of review.
ABOUT PAMPA METALS
Pampa Metals is listed on the Canadian Stock Exchange (CSE: PM), Frankfurt (FSE: FIRA), and OTC (OTCQBtrademark: PMMCF) exchanges, and wholly owns a portfolio of projects highly prospective for copper, molybdenum, and gold along proven and highly productive mineral belts in Chile, the world's largest copper producer. www.pampametals.com
ON BEHALF OF THE BOARD
Joseph van den Elsen | President & CEO
INVESTORS CONTACT
Joseph van den Elsen | President & CEO
joseph@pampametals.com
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Pampa Metals expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects" and similar expressions, or that events or conditions "will" or "may" occur. These statements are subject to various risks. Although Pampa Metals believes the expectations expressed in such forward- looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in forward-looking statements.
Cyprium Metals Limited (ASX: CYM) (“CYM”, “Cyprium” or “the Company”) is pleased to announce the capital raising via a placement (Placement) and a pro rata non‐renounceable entitlement offer (Entitlement Offer) was oversubscribed, raising a total of $31.6 million before costs (Equity Raising).
HIGHLIGHTS
Clive Donner, Managing Director commented:
“The Board is very appreciative of the strong support from current shareholders and welcomes a number of new institutional investors onto the register.
The oversubscribed Equity Raising has now been completed, which together with the US$14.5 million Bridging Facility closed last quarter, provides the Company with the capital to advance the Nifty technical studies and finalise an appropriate development funding package next year. This will enable the delivery and execution of our strategy to restart the Nifty Project as a larger scale open pit copper operation.”
Placement and Entitlement Offer
Cyprium Metals Limited (CYM, Cyprium or the Company) is pleased to announce the capital raising via a placement (Placement) and a pro rata non‐renounceable entitlement offer (Entitlement Offer) was oversubscribed, raising a total of $31.6 million before costs (Equity Raising).
The Company has completed the Placement to issue 600 million new shares (Placement Shares) at an offer price of $0.04 per share (Offer Price), raising $24 million. The Placement was strongly supported by sophisticated and professional investors, including numerous new and existing high quality domestic and offshore natural resources focused institutions, family offices and private equity investors.
The Company has also completed the Entitlement Offer under which it has issued 125 million new shares (Entitlement Shares) at the Offer Price, raising $5 million. The oversubscriptions in this Entitlement Offer shortfall enabled the Company to place an additional 65.5 million new shares being issued at the Offer Price, raising a further $2.6 million.
The Company’s Secured Loan financier, Nebari Natural Resources Credit Fund II, LP (Nebari), subscribed for $0.5 million of the Entitlement Offer shortfall.
Leading private equity firm and existing shareholder, Pacific Road Capital Management (PRCM), subscribed for $8.26 million in the Equity Raising, representing a 15.54% interest in the Company post‐ Equity Raising.
Each participant in the Equity Raising received 1 free attaching option for every 2 Shares to issued under the Equity Raising (Options). The Options will be exercisable at $0.06 each, on or before 31 December 2024.
Canaccord Genuity (Australia) Limited acted as the Lead Manager to the Placement. Steinepreis Paganin acted as legal adviser to Cyprium.
Board and Management Changes
Appointment of Mr Clive Donner as Managing Director
Cyprium is pleased to announce the appointment of Mr Clive Donner as Managing Director of the Company, effective immediately.
Mr Donner is an experienced mining private equity and financing expert who has financed over 50 mines globally. He founded and actively managed 2 private equity funds which focussed on emerging and mid‐tier mining companies. Mr Donner was previously a Director of Rothschild Australia responsible for mine development financing. Mr Donner has been engaged to lead the raising of the required debt and equity capital, developing the assets of the Company and building the Company into a mid‐tier copper producer.
The material terms of Mr Donner’s employment agreement were provided in CYM ASX Announcement dated 12 July 2023, “Firm Commitments received for $24M Conditional Placement and announcement of $5M Entitlement Offer”.
Mr Donner participated in the Placement.
Appointment of Mr Matt Fifield as Interim Chair
Cyprium is pleased to announce the appointment of Mr Matt Fifield as a Non‐Executive Interim Chair of the Company, effective immediately.
Mr Fifield is the Managing Director of Pacific Road Capital, a leading resource investment firm that has managed over $1 billion in funds raised to develop and enhance resource companies around the world. Mr Fifield has participated in over $10 billion of capital raising and M&A transactions across his career and is a leading voice on responsible resource investing. He is a frequent speaker and contributor around issues of sustainable development practices.
In his role as Non‐Executive Interim Chair, Mr Fifield will receive a salary of $60,000 per annum.
Resignation of Mr Barry Cahill as Managing Director
Mr Barry Cahill has resigned from the Board and as Managing Director, effective immediately. The Company thanks Mr Cahill for his service to the Company.
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