Quetzal Copper Mobilizes for Maiden Drill Program at Princeton Copper Project, British Columbia

Quetzal Copper Mobilizes for Maiden Drill Program at Princeton Copper Project, British Columbia

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") is pleased to announce that it has mobilized its team to begin work at the Company's Princeton Copper Project in British Columbia, Canada. The Princeton Project is an 11,500 hectare property located between the Hudbay Minerals and Mitsubishi owned Copper Mountain Mine and the town of Princeton, British Columbia.

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Figure 1: Location of Princeton Project Claims and Targets

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CEO Matt Badiali said, "We are thrilled to get started on this drill program. Princeton boasts several exciting copper targets from open intercepts at Bud South to new geophysical targets. It has excellent qualities that reduce our risk and increase our potential for success. It's next to an operating mine, has coincident soil and geophysical anomalies, and structures known for hosting large copper deposits in the region. The targets are shallow, and several have never been drilled before. This program is what drew many shareholders to us - the chance to make a major copper discovery in British Columbia."

Princeton Copper Project

The Princeton Copper project is a large land package consolidating several formerly disjointed claims. The technical team compiled historical surface geological and geochemical data and reprocessed geophysical data. The new perspective gleaned from this work generated four strong targets for the first drill program:

  • Bud South - The only locality with a drill hole among the four targets. It contained 10.7 meters of rock with 0.18% copper and 0.30 grams per ton gold. But it only cut the edge of the target. Historic trenching at the target showed disseminated copper mineralization in intensely faulted and intruded Nicola Group volcanic rocks.
  • Knob Hill - An overburden-covered chargeability anomaly adjacent to copper-gold in quartz veins exposed in nearby trenches
  • Aura - A 1.5km wide horseshoe-shaped magnetic high surrounding a reverse-polarity magnetic feature. This may represent an intrusive body and its alteration halo.
  • Contact - A chargeability high completely hidden under till cover along trend from and with the same signature as the Knob Hill target.

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Figure 2: Ground Magnetic Map Showing Priority Princeton Targets

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Bud South

Bud South is a 300m by 400 m geophysical anomaly with significant copper in soils footprint over a strong magnetic high. Historic surface trenches exposed porphyry intrusions and alteration. Our interpretation, supported by recent 3D inversions of magnetic data, is that DD87-3 did not test the core of the target.

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Figure 3: Bud South Target

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Knob Hill

The Knob Hill target is a chargeability high anomaly 300 to 600m in diameter under thin cover. It occurs downhill of historic trenching which exposed chalcopyrite bearing quartz veins. Grab samples from trenches ran 0.6% to 1.2% copper and from 0.55 g/t to 0.99 g/t gold. This target has never been drilled.

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Figure 4: Knob Hill Target

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Aura and Contact

The Aura and Contact targets are the least explored being defined in newly collected geophysical data. Both are hidden under shallow, but variable amounts of till cover.

Aura appears as an intense apparent magnetic low (possibly reversed polarity) surrounded by an apparent magnetic-high halo 1.5km in diameter. Where covered by the recent IP survey, the halo is a chargeability high. The geophysical signature may be interpreted as a sulfide-bearing alteration zone adjacent to an intrusion.

Contact is located south of the Knob Hill target, where till cover is thicker, and outcrop is absent. It consists of a chargeability high associated with a magnetic signature analogous to that at Knob Hill.

Options Grant

The Company also announces the grant of incentive stock options to various directors, officers, senior employees and advisors of the Company to purchase 1,500,000 common shares at an exercise price of $0.16 per share, exercisable for a period of 5 years. The stock options are subject to the terms and conditions of the Company's stock option plan and the policies of the TSX Venture Exchange.

QP Statement

Dr. Roy Greig, P.Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed, and approved the technical content in this release.

First Nations Acknowledgement

Quetzal recognizes that the Princeton Copper Project is part of the traditional unceded territory of the Smelqmix People. We are committed to respect for the land and for the people who reside there.

About Quetzal Copper

Quetzal is engaged in the acquisition, exploration, and development of mineral properties in British Columbia and Mexico. Quetzal currently has a portfolio of three properties located in British Columbia, Canada and one in Mexico. The Company's principal project, Princeton Copper, is located adjacent to Hudbay's Copper Mountain mine in southern British Columbia.

Quetzal Copper Limited
Matthew Badiali, CEO
Phone: (888) 227-6821

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to exploration and development of the Company's properties.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated, accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237394

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Quetzal Copper (TSXV:Q)

Quetzal Copper

Ankh Capital Inc is a capital pool company.

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Quetzal Copper Announces Extension of Private Placement

Quetzal Copper Announces Extension of Private Placement

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") announces that further to its news releases dated December 13, 2024 and December 27, 2024, the TSX Venture Exchange ("TSXV") has granted the Company an extension to complete its previously announced non-flow-through portion of its non-brokered private placement of units of the Company (the "Units"), at a price of C$0.15 per Unit (the "Offering"). The Company now has until February 17, 2025 to complete the Financing.

The Offering

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Quetzal Copper Announces Closing First Tranches of Financing

Quetzal Copper Announces Closing First Tranches of Financing

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") is pleased to announce that it closed a first and second tranche of a previously announced non-brokered flow-through and non-flow-through private placement (the "Offering") for gross proceeds of C$1,918,425 (collectively, the "First Tranches").

Under the First Tranches, the Company issued an aggregate of 11,284,853 flow-through units at $0.17 per unit (the "FT Units"). Each FT Unit consists of one flow-through common share (the "FT Share") and one half of a warrant. The Company issued 5,672,427 warrants as part of the FT Unit issuance. Each whole warrant exercisable at $0.25 per share for 24 months from the issuance date (the "FT Warrants").

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Quetzal Copper Provides Update on Financing

Quetzal Copper Provides Update on Financing

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") announces a non-brokered private placement (the "Offering") for aggregate gross proceeds of up to C$3,000,000, from the sale of the following:

  • up to 6,666,666 units of the Company (the "Units") at a price of C$0.15 per Unit for gross proceeds of up to C$1,000,000 from the sale of Units; and
  • up to 11,764,705 flow through units of the Company (the "FT Units") at a price of C$0.17 per FT Unit for gross proceeds of up to C$2,000,000 from the sale of FT Units. Each FT Share will be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada).

Each Unit and FT Unit issued under the Offering shall consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per Common Share for a period of 24 months from the closing of the Offering (the "Closing").

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Quetzal Copper Announces Changes to the Board of Directors

Quetzal Copper Announces Changes to the Board of Directors

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") announces the addition of Ms. Lisa Thompson and the departure of John Fraser to the Company's Board of Directors (the "Board") effective November 19, 2024.

Ms. Thompson brings over 20 years of experience as a corporate/securities paralegal, working with both large and small public companies listed for trading on US and Canadian stock exchanges. For over five years, Ms. Thompson provided corporate secretarial consulting services for US and Canadian companies. She is a co-founder of Meraki Corporate Services in Vancouver, BC.

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Quetzal Copper Announces Brokered Private Placement Offering to Raise $3.0 Million

Quetzal Copper Announces Brokered Private Placement Offering to Raise $3.0 Million

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") a North American focused copper exploration company is pleased to announce that it has entered into an agreement with Independent Trading Group ("ITG") to act as lead agent and sole bookrunner in connection with a "best efforts" private placement (the "Offering") for aggregate gross proceeds of up to $3,000,000 from the sale of the following:

  • up to 6,666,666 units of the Company (the "Units") at a price of $0.15 per Unit for gross proceeds of up to $1,000,000 from the sale of Units; and
  • up to 10,526,315 common shares of the Company (the "FT Shares", and together with the Units, the "Offered Securities") at a price of $0.19 per FT Share for gross proceeds of up to $2,000,000 from the sale of FT Shares. Each FT Share will be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada).

Each Unit issued under the Offering shall consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per Common Share for a period of 24 months from the Closing Date (as defined below).

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Altair Minerals Limited  New Central Porphyry System Identified at Venatica

Altair Minerals Limited New Central Porphyry System Identified at Venatica

Sydney, Australia (ABN Newswire) - Altair Minerals Limited (ASX:ALR) (OTCMKTS:CHKMF) is pleased to announce preliminary findings following a site visit where the Company has identified a significant outcrop of stockwork system at Central Porphyry. Outcropping quartzite, magnetite and secondary biotite veined porphyry stockwork which is part of a new separate Central Porphyry - 3km Southwest of the high-grade Irka NE Porphyry.

Key Highlights:

- Identification of new Central Porphyry | Venatica West a Porphyry Cluster

Site visit has discovered a significant outcrop of leached porphyry stockwork and ultra-potassic vein system which identifies a Central Porphyry intrusive part of a cluster system at Venatica West. Typical alteration and veining present within Bornite-Gold rich Copper Porphyry systems.

- Extremely dense veining and stockwork | Multi-stage Mineralisation

Stockwork of A-type quartz, magnetite and secondary biotite on Central Porphyry is the densest identified to date across Venatica West, suggesting significant hydrothermal activity, overlapping events, fracturing and multi-stage mineralisation at Central Porphyry, ideal for copper enrichment.

- Small portion of a much larger system | Central Porphyry Remains Open

Identification of Central Porphyry is an outstanding outcome, due to only a portion of the potassic stockwork zone outcropping, which could've easily been missed. Ultra-potassic alteration with dense stockwork as seen within this outcrop, generally tends to expand kilometres, with remaining footprint of alteration sitting under soil cover. Further fieldwork can identify full extent of this Central Porphyry.

- Potential for regional Porphyry system | SW - NE Regional Porphyry System

Preliminary fieldwork analysis on-going, with already a new Central Porphyry system being identified within virgin grounds at Venatica West, sitting ~3km Southwest of the high-grade Irka NE Porphyry and ~2km Northeast of the Irka SW Porphyry-Skarn system. Suggestive of a regional SW to NE trending porphyry cluster, filling the intersection of two district faults.

- Community Engagement Commenced | Early Community Approval

Early engagement has commenced with the local community, with multiple local members showing support for on-going exploration works. Altair's exploration team has also met with the President of the Community with very positive preliminary discussions. Altair has received initial community approval for exploration works with intention of putting forward long-term proposal of work programs, community incentive programs, project scheduling and local training.

Discovery of New Central Porphyry at Venatica West

The Central Porphyry is located on the Irka permit, situated ~3km southwest of the high-grade Irka NE Porphyry target and is a new intrusion system identified within Venatica West during initial site visit.

The upper zone of a new Central Porphyry has been identified through outcrop which consists of leached ultra-potassic stockwork of quartz, magnetite and secondary biotite dense veining, and surrounded by phyllic alteration halo and hosted within overprinted argillic alteration.

The ultra-potassic alteration suggests Altair is standing above the core of the Central Porphyry. The overprinting of strong argillic alteration has occurred from later stage hydrothermal fluids which has replaced the feldspars with clay material while maintaining the stockwork veining - suggesting a multistage mineralisation event which can significantly enrich the grades of copper sulphide and hypogene zone below. This leached stockwork from late-stage argillic alteration indicates the copper has been remobilized and disseminated into structurally favourable zones below, with potential to enhance grades within the contacts and breccia's at the core of the Central Porphyry.

The ultra-potassic zone generally sits right above the core of a Porphyry intrusion and in the case of the Central Porphyry, it is the densest set of stockwork, and veinlets discovered so far at Venatica West, with high alteration suggesting this area is the key part of hydrothermal activity and potentially the feeder to multiple other Porphyry systems.

The presence of dense secondary biotite veining on altered ultra-potassic outcrop not only indicates the presence of a new Porphyry system sitting below but also is an essential element for developing a large-scale Porphyry deposit within this particular belt.

Within other billion-tonne deposits proximal to Venatica, the presence of secondary biotite into the plays a key role in developing "scale" as its presence within porphyry stock and outwards into diorite host rock, tends to allow substitution of Fe2+ and Mg2+ with Cu2+, which can extend the copper mineral deposit footprint by a further ~500m radius in each direction from the main Porphyry core.

Key Takeaways

- Identification of new Central Porphyry akin to Bornite-Gold rich Copper Porphyries

- Ultra-potassic stockwork suggests we are standing above the core of the system

- Argillic overprint indicates a later-stage hydrothermal fluid enacted on Central Porphyry, leading to multi-phase mineralisation events.

- Leached outcrop, indicates copper has re-mobilized below into more structurally favourable zones allowing secondary enrichment in the porphyry core - which leads to higher grades.

- Presence of secondary biotite halo zone and veining in porphyry stock & diorite host is critical in developing scale within this belt for a large Cu-Au mineralisation zone beyond just the porphyry core.

- Structural alignment in SW-NE direction hosting a regional copper porphyry cluster. Irka NE Porphyry, the Central Porphyry and the SE Porphyry makes a potential corridor over more than 10km length.

This new Porphyry discovery adds on to the targets at Venatica, with 4x highly prospective undrilled targets for discovery being uncovered in this new district which is an extension of the belt which hosts multiple billion-tonne copper deposits, these targets at Venatica currently include:

- Irka NE Porphyry: Over 3.4km strike, with high-grade samples including:

- 7.0% Copper and 33g/t Silver
- 5.7% Copper and 43g/t Silver

- Irka SE Porphyry-Skarn: Large 6km2 anomalous area, with high-grade samples including:

- 4.8% Copper & 0.40g/t Gold
- 6.5% Copper & 0.52g/t Gold

- Central Porphyry: Newly discovered initial outcrop from field visit, part of a significantly larger system sitting under colluvial and soil cover. Ultra-potassic and advanced argillic alteration with significant stockwork and veining part of a separate porphyry intrusive.

- Venatica East: Over 17km of anomalous strike of copper stream sediments which are 5x background levels. Virgin grounds with potential to identify source of copper mineralisation feeding the streams and new major targets.

The identification of this Central Porphyry is significant and a result of the diligent fieldwork of the exploration team, as the outcrop is exposed over a minimal area and could've easily been missed. The degree of stockwork veining and hydrothermal activity suggests this alteration likely expands kilometres in each direction - with most of it sitting under post-mineral soil cover. Further detailed mapping and fieldwork will look to identify the true extent of this potassic alteration zone.

Venatica West is shaping up to be a regional porphyry system, hosting numerous high-quality targets for discovery. The Central Porphyry sits ~3km southwest of Irka NE and ~2km northeast of Irka SW, which indicates a structurally controlled regional porphyry trend SW - NE at Venatica West.

Community Engagement

Altair has received positive initial feedback from the community regarding its preliminary exploration activities and future plans. The community board has provided their approval and remains supportive with great relations built with local miners in the region who are eager for Altair to continue further exploration work.

Altair has also had an introduction and a very positive initial meeting with the President of the local community. Following from this, Altair representatives attended the initial community meeting and received approval to continue exploration works, with local members ready to assist. Altair continues to build upon existing supportive relationships within the community and will seek to provide a longterm formal proposal of its anticipated work programs, community incentive programs, project scheduling and local training. This proposal will be reviewed by the local community and President and will then be used to form the basis of monthly meetings with the community to build upon existing support.

Altair believes its early approach to engage the community and developing upon relationships which have been built over 10-years by the vendor of Irka will be key in fast-tracking exploration and development programs. Furthermore, this engagement is key to Altair's ESG core values and is expected to pay dividends in the future for both the Company and community. The early engagement with the community will also be critical in ensuring a smooth transition into its discovery programs.

Steps Forward at Venatica

The key anticipated steps forward aim to establish maximum value for shareholders through a scientific, systematic and diligent approach to exploration with the target of making a large-scale and globally significant discovery.

Venatica sits in the right the geological formation with all the key indicators capable of making such discovery. Altair plans to immediately initiate a comprehensive program to further evaluate the full potential of Venatica. The next key steps as part of the Venatica execution program includes:

- Evaluation of regional potential and detailed mapping

- On-going community engagement at Venatica West & Venatica East

- Rock chip and geochemical sampling program at Venatica West

Altair Chief Executive Officer, Faheem Ahmed comments:

"This is an outstanding find by our geological team within the high-grade Venatica Copper Project. This is now our third Porphyry target at Venatica West, and we are treading virgin and unexplored grounds here with potential to discover further mineralised outcrops and Porphyry's.

There is consistent dense veining across the outcrop which is exactly what you would like to see within a porphyry intrusion, suggesting significant magmatic fluid activity. More importantly, it appears the Central Porphyry has gone through multi-stage mineralisation, which not only introduces more copper into the intrusion, but also indicates copper has been leached from the outcrop and has potential to go through secondary enrichment below. These are all key indicators we are onto an exceptional exploration target, both with scale and potential to be high-grade.

We now have three key targets at Venatica West, two of them which has shown exceptional copper grades ranging 4 - 9% at surface across a large area. With the latest addition being this Central Porphyry, which has gone through significant leaching. Due to the leaching, we're looking for anomalous levels of copper at surface within the Central Porphyry, which will confirm to us this stockwork is likely to be significant mineralised at depth from remobilization of copper ions.

Furthermore, we are yet to even touch Venatica East, which hosts 17km strike of anomalous copper stream sediments. I'm incredibly excited to get boots on ground at Venatica East which is a pure greenfield opportunity and has never been systematically treaded or even sampled, and no one has ever followed up these prominent copper anomalies. We'll be the first Company to take an experienced geological team down to Venatica East, so the possibilities and upside is quite endless.

Simultaneously, we continue to progress works at Olympic Domain, our latest announcement on the project, 4 December 2024, has indicated a robust conductive ovoid, with historic drilling narrowly missing the core of the target. We are in intending to complete a follow-up TEM survey which can identify the precise depth of this ovoid, which will be critical for our drill program and targeting."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/BB53832O



About Altair Minerals Limited:  

Altair Minerals Limited (ASX:ALR) (OTCMKTS:CHKMF) is listed on the Australian Securities Exchange (ASX) with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The Company has projects located in South Australia, Western Australia and Queensland with a key focus on its Olympic Domain tenements located in South Australia.



Source:
Altair Minerals Limited

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Vertex Minerals Limited  Strengthens Board with Appointment of Mining Executive Sean Richardson

Vertex Minerals Limited Strengthens Board with Appointment of Mining Executive Sean Richardson

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce the appointment of experienced mining executive Sean Richardson as an Independent Non-Executive Director.

Details of Mr Richardson's qualifications and experience are as set out below.

Commenting on the appointment, Chairman Roger Jackson said:

We are delighted to have Sean joining the Vertex Board at such an exciting time for the Company as we transition into high-grade gold production from stockpiles at Reward and beyond. He brings a wealth of relevant experience and we expect him to supplement the existing Board and Management team well.

SEAN RICHARDSON

MEng MSc MBA FAusIMM MEIAust GAICD

Sean Richardson is a mining professional with a career spanning over 30 years. Mr Richardson experience extends from operations through to consultancy and managerial roles where he has been involved in the exploration and development of mineral projects in Australia, North America, Africa, South-East and Central Asia.

Mr Richardson's notable roles include Managing Director of Empire Resources (ASX:ERL), Chief Operating Officer for Bardoc Gold (ASX:BDC) and Operations Manager for Shaw River Manganese (ASX:SRR).

Mr Richardson is passionate about the mining industry and its role in the advance of society, an enthusiasm that has led Mr Richardson to a seek out and attain greater knowledge of the global minerals industry.

Mr Richardson holds a Master of Engineering Technology (Mining Engineering), a Master of Business Administration (Curtin), a Master of Science in Mineral Economics (WASM), a Graduate Diploma in Mining (WASM) and an Advanced Diploma in Engineering and Mine Surveying (TAFE).

Mr Richardson is also a Graduate Member of the Australian Institute of Company Directors (GAICD), a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and a Member of Engineers Australia (MEIAust).



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

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Osisko Metals Begins 2025 Drill Program at Gaspé Copper

Osisko Metals Begins 2025 Drill Program at Gaspé Copper

Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce that the 2025 drill program is underway at its 100%-owned Gaspé Copper project, located next to the town of Murdochville in the Gaspé Peninsula, eastern Québec.

2025 Drill Program

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Questcorp Mining Announces Private Placement

Questcorp Mining Announces Private Placement

Questcorp Mining Inc. (CSE: QQQ) (the "Company" or "Questcorp") is pleased to announce that it intends to complete a non-brokered private placement offering (the "Offering") of up to 33,000,000 units (each, a "Unit") at a price of $0.06 per Unit for gross proceeds of $1,980,000. Each Unit will consist of one common share of the Company and one common share purchase warrant entitling the holder to acquire a further common share of the Company at a price of $0.10 per share for a period of two years.

The net proceeds of the Offering will be used by the Company to complete the acquisition of the La Union Project from Riverside Resources Inc., (see news release dated September 6, 2024), to continue a small exploration program at its North Island Copper Property, to retire existing payables and for general working capital purposes. Finders' fees or commissions may be paid in connection with the completion of the Offering, and all securities issued in the Offering will be subject to a four-month-and-one-day statutory hold period.

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Group Eleven Intersects 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu, incl. 3.5m of 21.3% Zn+Pb, 395 g/t Ag and 0.73% Cu at Ballywire; Silver and Copper Values Continue to Impress

Group Eleven Intersects 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu, incl. 3.5m of 21.3% Zn+Pb, 395 g/t Ag and 0.73% Cu at Ballywire; Silver and Copper Values Continue to Impress

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from the latest two holes of the ongoing drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

  • G11-3552-27 intersected (from 213.0m):
    • 24.8m of 8.1% Zn+Pb (5.8% Zn and 2.3% Pb), 80 g/t Ag and 0.12% Cu, including
    • 15.6m of 11.6% Zn+Pb (8.3% Zn and 3.3% Pb), 122 g/t Ag and 0.19% Cu, including
    • 6.6m of 16.7% Zn+Pb (11.1% Zn and 5.7% Pb), 240 g/t Ag and 0.42% Cu, including
    • 3.5m of 21.3% Zn+Pb (13.3% Zn and 8.0% Pb), 395 g/t Ag and 0.73% Cu
    • Located in middle of 270m gap between two previously released drill fences
  • G11-3552-25 intersected (from 187.2m):
    • 16.2m of 2.8% Zn+Pb (2.1% Zn and 0.7% Pb) and 8 g/t Ag, including
    • 4.6m of 7.4% Zn+Pb (5.6% Zn and 1.8% Pb) and 21 g/t Ag, including
    • 1.9m of 12.9% Zn+Pb (9.6% Zn and 3.3% Pb) and 39 g/t Ag
    • Located 50m NNW from G11-3552-27
  • Above results confirm the extent of the recently announced flat-lying zone of zinc-rich massive sulphide lenses at least 360m along strike and remaining open to the NE
  • Massive sulphide zone is pierced by G11-3552-27 and seven previously released holes, of which three are referenced below:
    • G11-3552-12: 29.6m of 10.6% Zn+Pb and 78 g/t Ag (released 11-Jun-24)
    • G11-3552-18: 11.8m of 11.6% Zn+Pb and 48 g/t Ag (released 22-Oct-24)
    • G11-3552-19: 15.3m of 14.5% Zn+Pb and 56 g/t Ag (released 14-Nov-24)
  • Drilling continues at Ballywire with two rigs testing further down-dip of the two holes released today, plus the NE extension; assay results are expected in due course

"It is great to see the NE massive sulphide zone now consistently intersected by eight high-grade holes over a strike length of 360m and open to the NE," stated Bart Jaworski, CEO. "Excellent silver and significant copper values are also noteworthy because they increasingly point to a stratigraphically deeper horizon known to be highly prospective for copper and silver in this part of Ireland. Namely, the Gortdrum Cu-Ag mine, active in the 1960s and 70s, is located 10km NE of Ballywire, whereas, the Denison and Tullacondra Cu-Ag historic occurrences are 5km SE and 45km SW of Ballywire, respectively. A deeper Cu-Ag horizon at Ballywire is one of our key targets for 2025.

Our two other key targets include: (i) exploration drilling along strike from the drilled 2.6km-long discovery area towards the encompassing 6km long prospective trend and (ii) up and down dip from the discovery trend in search of parallel zones of mineralization. We eagerly await results from drilling down dip of today's results and along the NE extension."

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Exhibit 1. Cross-Section A-A' of G11-3552-25, -27 (Filling In 270m Gap Between Fences) at Ballywire

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Exhibit 2. Plan Map Showing Key New Drilling (G11-3552-25, -27) at Ballywire

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Exhibit 3. Emerging Massive Sulphide Zone and Upcoming Drill Results at Ballywire

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Recent Holes from Ballywire Discovery

The Ballywire prospect at the Company's 100%-owned PG West Project in Republic of Ireland, is a relatively new zinc-lead-silver discovery (first announced Sept-2022). In addition to 42 holes drilled and reported by Group Eleven to date, the most recent two holes (G11-3552-25 to -27) are reported today (see Exhibits 1 to 6). Note, a second batch of assays totalling over 50m within G11-3552-27 is still pending.

High-grade mineralization from G11-3552-25 and -27 consists predominantly of massive and semi-massive sulphide (sphalerite, galena, pyrite, chalcopyrite and suspected tennantite-tetrahedrite), as well as, disseminated and vein hosted sulphide mineralization. Mineralization occurs along and/or close to the base of the Waulsortian Limestone (see Exhibit 1).

Exhibit 4. Summary of Assays from G11-3552-25 and -27 at Ballywire

ItemFrom
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
G11-3552-25187.15203.3516.202.140.692.838.00 -
Incl.187.15195.518.363.591.114.7014.49 -
Incl.190.87195.514.645.591.827.4120.97 -
Incl.192.69194.601.919.593.3212.9239.19 -
G11-3552-27213.00237.8124.815.842.288.1180.40.12
Incl.219.42235.0615.648.303.2811.59122.10.19
Incl.219.42222.212.7915.573.7719.3592.790.03
And228.51235.066.5511.065.6516.71240.00.42
Incl.230.36233.903.5413.268.0121.27395.10.73


Note: True width of the overall mineralized package in all holes above is estimated at approx. 90-100% of the intersected interval

Overall, recent drilling suggests the emergence of two distinct styles of mineralization. First, relatively flat-lying zinc-rich massive sulphide lenses and second, 'other high-grade mineralization', dominated by variably dipping massive sulphides, as well as, vein-hosted and disseminated mineralization (see Exhibits 1-3). Both styles occur at or near the base of the Waulsortian Limestone and offer great exploration opportunities as drilling progresses.

Looking forward, seven (7) drill holes (G11-3552-24, -26, -28 and 29 to -32; see Exhibit 3) are in progress with results expected in due course. Exhibit 3 shows drilling to date across 1.25km of the overall 2.6km long trend (see Exhibit 2) of significantly mineralized drill intercepts (open in all directions). This in turn is hosted within a 6km long prospective trend defined by four gravity high anomalies, only one of which (anomaly 'C') is systematically drilled to date (see Exhibit 5).

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Exhibit 5. Regional Gravity at Ballywire Showing 6km Long Prospective Trend

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Notes to Exhibit 6: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2023); (b) Stonepark MRE: see the 'NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in 'Report on Prospecting Licence 464' by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in 'The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody' by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in 'Report on Mallow Property' by David Wilbur, dated December 1973; and later summarized in 'Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork' by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. 'Rathdowney Trend' is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

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Exhibit 6. Regional Map of PG West (100% Interest) and Stonepark (77.64% Interest)

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Note: Two westernmost prospecting licenses were surrendered in December 2024 from the Stonepark Project, reflecting decreasing prospectivity and the Company's preference to focus on core prospects (Ballywire and Carrickittle West)

Consultant

The Company has engaged ProConsul Capital Ltd. ("ProConsul") to provide investment marketing consulting services (the "Services") commencing February 6th, 2025. In consideration for the Services, the Company will pay a fee of C$6,000/month and has agreed to grant stock options to ProConsul, the number and terms of which stock options will be determined at a later date. The agreement is subject to TSX Venture Exchange acceptance and renewable on a month-to-month basis unless terminated by either party on 30 days written notice.

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent 'Qualified Person' as defined under Canadian National Instrument 43-101.

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) and (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)

Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Glencore Canada Corp. (17.1% interest) and Michael Gentile (16.5%). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

Neither 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.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

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