Pedro Resources

Pedro Resources Announces Potentially Significant Stream Sediment Results from its Voisey's Bay West Nickel, Copper and Cobalt Property Located Near Vale's Voisey's Bay Mine and the Resultant Staking of New Mineral Licenses

Pedro Resources Ltd. (CSE:VBN) ("Pedro" or the Company") is pleased to announce potentially significant results from an indicator mineral survey of stream sediments on Pedro's current property. The samples were collected in July 2019 on Pedro's Voisey's Bay West ("VBW") property as it then existed. The survey was hampered by poor weather and consequently the full property was not covered

The stream sediment samples were processed in August 2021 and analysed with automated Scanning Electron Microprobe (SEM) techniques by Dr. Derek Wilton, PGeo. The analyses indicated the variable presence of sulphide minerals (pyrrhotite, chalcopyrite and pentlandite) as inclusions in sediment grains from some stream samples. These are the same minerals that constitute the ore mineral assemblage at Voisey's Bay Mine (VBM), owned and operated by Vale, and their presence in the survey samples suggests a possibility for VBM-style mineralization in bedrock upstream from the sediment sample collection sites. Two clusters of samples with these sulphide inclusions were identified on high plateau regions of the property. The restricted nature of the high plateau streams suggests a more a local source for the sediment.

Based on these sulphide-bearing stream sediment samples and the suggestion of a possible local source for the sulphide minerals, Pedro staked a number of claims in two licences to cover possible upstream sources of the sediment. These two new mineral licences are contiguous to Pedro's VBW property and contain 178 and 106 claims, respectively, for a total of 284 claims covering 7,100 hectares. The addition of these claims increases the size of Pedro's land package to 15 licences containing 1,005 claims with a total area of 25,125 hectares. One of the new licences also covers several copper occurrences documented in the NL Government Mineral Occurrence Database (MODS). Pedro plans an aerial VTEM geophysical survey over all licences in 2022 to identify targets on this land package which was staked by the original VBW exploration group, some of whom were a part of the original Vale/INCO exploration team.

Qualified Persons Review

The technical and scientific information contained within this news release have been reviewed and approved by Dr. Derek Wilton, P.Geo., a consultant to Pedro and a Qualified Person as defined by National Instrument 43-101 policy.

About Pedro Resources Ltd.

Pedro Resources Ltd. is a Canadian exploration company focused on mineral exploration and development, in particular the exploration of its Voisey's Bay West property, which comprises 1,005 claims (25,125 hectares), 4.5 km south of Vale's Voisey's Bay Mine in the province of Newfoundland and Labrador, Canada.

Pedro Resources' main focus is exploring for critical minerals to supply a new green economy, in particular, nickel, copper and cobalt, all of which can be found in Voisey's Bay, Labrador, Canada - a mining friendly jurisdiction. Nickel, copper and cobalt are key commodities for a "Green Future" and their use in Electric Vehicle (EV) batteries. Pedro is aware of the increasing need and demand for EV battery metals and feel that the VBW area will provide part of the solution.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Brian Stecyk
Chief Executive Officer
Tel: 780-953-0111

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the timing of future exploration work or drilling, and the expansion of the mineralization. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Pedro Resources Ltd., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

SOURCE:Pedro Resources Ltd.



View source version on accesswire.com:
https://www.accesswire.com/683061/Pedro-Resources-Announces-Potentially-Significant-Stream-Sediment-Results-from-its-Voiseys-Bay-West-Nickel-Copper-and-Cobalt-Property-Located-Near-Vales-Voiseys-Bay-Mine-and-the-Resultant-Staking-of-New-Mineral-Licenses

News Provided by ACCESSWIRE via QuoteMedia

VBN:CNX
The Conversation (0)
Pedro Resources Announces Changes to Board and Directors and Management

Pedro Resources Announces Changes to Board and Directors and Management

Pedro Resources Ltd. (CSE: VBN) ("Pedro" or the "Company") announces the resignation of Fiona Fitzmaurice as the Chief Financial Officer of the Company and the resignations of Réjean Gosselin, Wesley Thompson and Stuart Adair as directors of the Company.

Ms. Fitzmaurice will continue in her role until January 5, 2023. The Company will commence a search for a new Chief Financial Officer, which will be announced in due course.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Pedro Resources Ltd. Announces Debt Settlement

Pedro Resources Ltd. Announces Debt Settlement

Pedro Resources Ltd. (CSE: VBN) ("Pedro" or the "Company") announces that it has agreed to settle an aggregate of $37,810 of indebtedness owed to a non-arm's length creditor of the Company through the issuance of 756,200 common shares ("Common Shares") of the Company at a price of $0.05 per Common Share (the "Debt Settlement").

All Common Shares issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Pedro Resources Announces Grant of Stock Options

Pedro Resources Announces Grant of Stock Options

Pedro Resources Ltd. (CSE: VBN) ("Pedro" or the Company") announces the grant, under the Company's stock option plan, of 2,500,000 stock options to certain directors, officers, employees and consultants of the Company. The options entitle the holders to purchase the same number of common shares of the Company at a price of $0.15 per share for a period of five years. 50% of the options shall vest immediately on the date of grant and remaining 50% will vest in 6 months time on September 3, 2022.

About Pedro Resources Ltd.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Pedro Resources

Pedro Resources Announces Appointment of New Director

Pedro Resources Ltd. (CSE:VBN) ("Pedro" or the "Company") is pleased to announce that Mr. Stuart Adair has been appointed to the Company's Board of Directors effective January 13, 2022 and will Chair its Audit and Compensation Committees

Mr. Stuart Adair, CPA, CA, is a seasoned finance executive who has been investing in the junior mining sector for over 25 years. Mr. Adair is currently a director of MacDonald Mines Exploration Ltd. (TSXV: BMK) and Chair of its Audit Committee, as well as its Interim CEO. Stuart is also CFO of Accord Financial Corp. (TSX: ACD), a TSX-listed commercial finance company, a position he has held since 2002. At Accord Financial Stuart is involved in capital and risk management, strategic planning, acquisitions, corporate taxes, as well as financial management and reporting. Stuart holds a B.A. from Sheffield University, U.K., and an M.A. in Economics from Queens University, Canada.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Pivotal Metals

Horden Lake Drilling Completed

Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide an update on its exploration program at its 100% owned Horden Lake project in Quebec, Canada.

Keep reading...Show less
Tartisan Nickel Corp.

Tartisan Nickel Corp. Retains Northwest Solutions Inc. to Complete the Kenbridge Nickel Project All-Season Access Road; Names Gregory Edwards as First Nations Liaison

Tartisan Nickel Corp. (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA)("Tartisan'' or the "Company") announces that the Company has retained Northwest Solutions Inc. ("NWS Inc.") an organization based in Thunder Bay, Ontario, to provide technical and human resource support to the Company's flagship Kenbridge Nickel Project, located in the Kenora Mining District, northwestern Ontario. Northwest Solutions Inc. incorporates forestry, mining, and environmental services, as well as training, project management support, and communications consulting services. NWS Inc. has been operating in the Forestry and Natural Resource Sector since 2014 and is a family-owned and operated business. NWS Inc. will provide road design, permitting and project management support to the Kenbridge Nickel Project using leading technologies such as LiDAR, RoadEng and ArcGIS Pro.

Keep reading...Show less
Nickel-manganese-cobalt lithium-ion battery for an electric vehicle.

Nickel's Role in the Critical Energy Transition

The European Union, Canada, the US and Australia have all added nickel to their lists of critical minerals, deeming it essential for global sustainable energy and decarbonisation.

In spite of the resource's ubiquity and long history in multiple sectors, many investors know very little about it, overlooking the investment potential of this underhyped base metal.

Through an understanding of nickel's overall market as well as its industrial applications, role in electrification and position in the clean energy landscape, investors can position themselves to identify and leverage a range of promising opportunities.

Keep reading...Show less
Blackstone Minerals

Blackstone Update on Refinery Byproduct Offtake Strategy

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) is pleased to announce an update to its recent refinery byproduct offtake MOU announcement.

Keep reading...Show less
Nordic Nickel

Substantial Increase in Hotinvaara Resource Establishes Pulju as Globally Significant Nickel Sulphide District

Updated in-situ Mineral Resource Estimate sees contained nickel metal increase to 862,800t, demonstrating scale and significance of the Pulju Project.

Nickel sulphide and battery metals explorer Nordic Nickel Limited (ASX: NNL; Nordic, or the Company) is pleased to announce an updated in-situ JORC (2012) Mineral Resource Estimate (MRE) for the Hotinvaara Prospect (Hotinvaara) at its flagship, 100%-owned Pulju Nickel Project (Pulju, or the Project) in Finland following an extensive drilling campaign in 2023.

Keep reading...Show less

Latest Press Releases

Related News

×