Ramp Metals (TSXV:RAMP) specializes in battery and base metals, particularly nickel and lithium with three properties, two situated in Northern Saskatchewan, Canada, and one in Nevada, United States. The company's Rottenstone SW Claims is situated along a geological structure that historically yielded the highest-grade nickel and platinum group elements (PGE) in Canada. Rottenstone exhibits similarities to the Nova-Bollinger nickel-copper mine in Western Australia, which was discovered by Sirius Resources and ultimately sold to IGO Limited for AU$1.8 billion. The Nova-Bollinger mine had an estimated resource of 13.1 million tons (Mt) grading 2 percent nickel, 0.8 percent copper, and 0.07 percent cobalt.
Ramp Metals' fully permitted drill program in 2024 consists of four drilling locations with eight holes. The current drill program is focused on testing two of these targets. The first target is positioned at the anomaly within the center of the claims and falls within the "Rottenstone Eye" structure. The second target is an anomaly located outside the eye structure, approximately 3 kilometers east-southeast from the first location. To date, Ramp has successfully drilled four holes for a total of 1,180 meters.
The striking similarity between Rottenstone and Nova-Bollinger mine is encouraging and the appointment of Dr. Mark Bennett, the discoverer of the Nova-Bollinger deposit, as a strategic advisor, reinforces Ramp’s belief in the potential of the Rottenstone property. Bennett has over three decades of experience in establishing mines, and played a key role in multiple discoveries, such as the Wahgnion gold mine, the Thunderbox gold mine, and the Waterloo nickel mine, in addition to the Nova-Bollinger nickel-copper mine. Along with Bennett, Ramp Metals has also appointed leading geologist Scott McLean, a 35-year veteran in the mining industry, as its strategic advisor.
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Ramp Metals (TSXV:RAMP) is an exploration company specializing in battery and base metals, particularly nickel and lithium. The company has three properties, two situated in Northern Saskatchewan, Canada, and one in Nevada, United States.
The flagship property, Rottenstone SW Claims is situated along a geological structure that historically yielded the highest-grade nickel and platinum group elements (PGE) in Canada. It exhibits remarkable parallels to the Nova-Bollinger nickel-copper mine in Western Australia, which was discovered by Sirius Resources and ultimately sold to IGO Limited for AU$1.8 billion. The Nova-Bollinger mine had an estimated resource of 13.1 million tons (Mt) grading 2 percent nickel, 0.8 percent copper, and 0.07 percent cobalt.
Ramp Metals has a fully permitted drill program scheduled for 2024. The company is planning four drilling locations with a total of eight holes. These drilling locations were identified based on the geophysical program completed by Ramp Metals. The current drilling program is focused on testing two of these targets, both of which are near-surface. The first target is positioned at the anomaly within the center of the claims and falls within the "Rottenstone Eye" structure. The second target is an anomaly located outside the eye structure, approximately 3 kilometers east-southeast from the first location. To date, Ramp has successfully drilled four holes for a total of 1,180 meters.
The striking similarity between Rottenstone and Nova-Bollinger mine is encouraging and the appointment of Dr. Mark Bennett, the discoverer of the Nova-Bollinger deposit, as a strategic advisor, reinforces Ramp’s belief in the potential of the Rottenstone property. Bennett has over three decades of experience in establishing mines, and played a key role in multiple discoveries, such as the Wahgnion gold mine, the Thunderbox gold mine, and the Waterloo nickel mine, in addition to the Nova-Bollinger nickel-copper mine. Along with Bennett, Ramp Metals has also appointed leading geologist Scott McLean, a 35-year veteran in the mining industry, as its strategic advisor.
The project’s presence in Saskatchewan is also encouraging for investors given the region’s mining-friendly policies. Saskatchewan was ranked second globally and the top in Canada by the Fraser Institute as the most attractive jurisdiction for mining investment in 2021. Saskatchewan has gained prominence for its abundant uranium resources, yet its geological diversity presents significant potential beyond this. Exploration for other battery metals in the region has been limited or largely unexplored.
The demand for battery metals will continue to grow, due to a strengthening EV market. S&P Global Mobility's 2024 global sales forecast anticipates battery-electric passenger vehicles will reach approximately 13.3 million units worldwide by the end of 2024, an increase of 40 percent year-over-year. In terms of market share, EVs will constitute around 16.2 percent of the total global passenger vehicle sales in 2024, compared to 12 percent in 2023.
Further, the emerging trend toward high-density batteries using nickel and cobalt, and less lithium, is also expected to boost demand for these metals. As one of the top critical minerals in the US and Canada, nickel projects are likely to see increased funding over the coming years.
There is a strong demand in the market for new, high-quality nickel-copper and lithium opportunities. Rottenstone SW borders Fathom Nickel, which recently secured C$4.6 million in funding and seems to be focusing on a similar geological system. The Rottenstone SW eye structure presents an ideal target for nickel-copper-PGE exploration.
The Rottenstone SW property is approximately 115 kilometers north of La Ronge, Saskatchewan. The property comprises 12 claims encompassing 17,285.5 hectares and is situated adjacent to a northeast-southwest geological formation connected to the renowned Rottenstone Mine. This mine yielded 40,000 tons of high-grade nickel-copper-PGE and gold ore, with grades averaging 3.28 percent nickel, 1.83 copper, and 9.63 grams per ton platinum-palladium-gold.
The company has completed various geophysical surveys including time-domain airborne geophysical measurements (TDEM), and soil sampling, all aimed at identifying potential drill targets. The survey results show striking similarities between Rottenstone SW Claims and the Nova-Bollinger deposit. The Rottenstone SW conductors show a strong correlation with the conductors identified at the Nova-Bollinger deposit. Based on the geophysical survey results, the company has identified four high-priority targets.
The company’s current drilling program is focused on testing two of these targets, both of which are near-surface. The first target is positioned at the anomaly within the center of the claims and falls within the "Rottenstone Eye" structure. The second target is an anomaly outside the eye structure, approximately 3 kilometers east-southeast from the first location. To date, Ramp Metals has successfully drilled four holes for a total of 1,180 meters. The project has a fully permitted drill program totaling 2,000 meters scheduled for 2024.
The Peter Lake Domain (PLD) property is situated within the Peter Lake Domain of the Swan River complex in Northern Saskatchewan, Canada, around 260 kilometers northeast of La Ronge, Saskatchewan. The property comprises four mineral deposit claims spanning approximately 2,163 hectares.
Peter Lake Domain has a history of exploration done by earlier operators. The previous exploration work returned surface grab samples of gabbro outcrop with disseminated pyrite and chalcopyrite (SMDI 5545) having values of 1,860 parts per million (ppm) copper, 461 ppm nickel, 41 parts per billion (ppb) platinum and 49 ppb palladium. A historical VTEM survey conducted by Geotech outlined compelling targets. According to Ramp Metals, the earlier operators drilled the property inaccurately and did not properly test the targets that were generated.
The project has the potential to be a major new discovery. Ramp Metals plans to undertake an airborne TDEM survey to build upon historical data and identify exploration targets. Once the targets are identified, the company will implement a drill program of about 2,000 to 2,500 meters.
Jordan Black brings over 12 years of geotechnical engineering experience for various infrastructure, renewable energy and mining projects. Black was previously the vice-president of business development at GoldSpot Discoveries and worked as a senior geotechnical engineer at WSP Canada.
Garrett Smith graduated with a B.Sc. in geology from the University of Regina. Throughout his career, he has been involved in projects across Western Canada, focusing on various commodities. His extensive expertise ranges from greenfield mapping and exploration to on-site drill management. Driven by a genuine passion for exploration, Smith has dedicated the past few years to assembling a collection of base metal projects in northern Saskatchewan.
Brett Williams is a seasoned geologist with a diverse background, having worked as a mine geologist in both open pit and underground mining, as well as an exploration geologist in the diamond, base metals, gold and uranium sectors for Rio Tinto and SSR Mining. He earned his B.Sc. in geology and a diploma in business administration from the University of Regina. Williams is a registered member of the Professional Engineers and Geoscientists of Saskatchewan.
Prit Singh is a seasoned capital markets professional and presently serves as the CEO of Thesis Capital, an advisory firm offering support to high-growth companies in fundraising, Canadian market initial public offerings and investor relations. Throughout his career, Singh has collaborated with more than 50 issuers, facilitating fundraising and providing counsel, resulting in the procurement of over $100 million in capital across various emerging sectors. Before establishing Thesis Capital, he gained experience in investment banking and wealth management, fostering enduring relationships within Canada's buy-side and sell-side communities. Singh holds a BBA with a specialization in finance from Brock University.
David Parker has more than 15 years of experience in business financing, consulting and recapitalizing public/private companies in the mining, technology, and media sectors. He also has experience in retail, office, and industrial real estate sales and development. He has led projects from initial market analysis to acquisition, design, approval, site servicing, construction and disposition. He understands the financial implications of technical issues and planning policy changes, making him an effective director.
Peter Schloo has a decade of experience and expertise in capital markets, operations and assurance, and holds CPA, CA and CFA designations. Additionally, he is a licensed prospector in the province of Ontario, Canada. His track record includes facilitating over C$85 million in associated capital raising opportunities for both public and private enterprises. Currently, he is the CEO, president, and director of Heritage Mining, and a director of Pacific Empire Minerals. His previous roles included CFO of Spirit Banner Capital and VP corporate development and interim CFO for Ion Energy.
Michael Romanik has over 14 years of resource exploration and public market experience with an emphasis on management, promotion and corporate finance. He has built an impressive network of resource and investment industry contacts over the years, and demonstrated a proven ability to utilize those relationships to advance his business objectives. Romanik has served as the president and CEO of GoldON Resources (TSXV:GLD.V) since 2009 and is a founding shareholder and the CEO of Silver Dollar Resources (CSE:SLVDF).
This profile was written in collaboration with Couloir Capital.
Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce a non-brokered private placement financing of up to approximately $4,500,000 (the "Offering"). The Offering will be led by Eric Sprott.
The Offering is expected to consist of the issue and sale of:
The proceeds from the issuance of CFT Shares of the Offering will be used for exploration expenses at the Company's Rottenstone SW property in Saskatchewan.
The proceeds from the sale of the Common Shares will be used for both exploration expenses and general working capital. The Offering is scheduled to close on or about August 8, 2024.
The CFT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the gross proceeds from the issuance of the CFT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), and (ii) as "flow-through mining expenditures" (as defined in subsection 127(9) of the Tax Act) (collectively, the "Qualifying Expenditures").
The closing of the Offering is subject to certain conditions, including the approval of the TSX Venture Exchange (the "TSXV"). Finder's fees may be paid in accordance with TSXV policies. All securities issued in connection with the Offering will be subject to a hold period in Canada of four months plus one day.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.
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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the completion of the Offering and the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216826
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Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to provide final drill results and a technical update for its new high-grade gold discovery in Saskatchewan. The Company has now received final assays from its winter 2024 drill program at the Rottenstone SW property. In addition to the discovery hole (Ranger-01), the Company also intersected gold mineralization in all drillholes at its Rogue target 3km away.
Highlights
"We are thrilled to make a significant gold discovery and be the first mover in a potential new gold district. Our discovery hole is open in all directions with the last reportable intercept being very close to the bottom of the hole. In addition to the Ranger target, our Rogue target also encountered gold which points to the potential for a robust gold system on our property," states Jordan Black, the Company's Chief Executive Officer.
Figure 1: Rottenstone SW - Updated Claims Map
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| Highlights | ||||||
| HOLE ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Target |
| Ranger-01 | 227 | 234.5 | 7.5 | 73.55 | 19.50 | Ranger |
| Including | 227 | 228.5 | 1.5 | 164.00 | 33.50 | |
| Including | 230 | 231.5 | 1.5 | 182.00 | 60.80 | |
| Including | 231.5 | 233 | 1.5 | 19.90 | 2.70 | |
| Ranger-01 | 293 | 298 | 5 | 4.17 | 1.01 | Ranger |
| Including | 293 | 294.5 | 1.5 | 6.18 | 1.40 | |
| Including | 296 | 297.5 | 1.5 | 7.28 | 1.90 | |
| Ranger-01 | 307 | 310 | 3 | 1.81 | 0.37 | Ranger |
| Including | 307 | 308 | 1 | 2.54 | 0.60 | |
| Including | 309 | 310 | 1 | 2.85 | 0.50 | |
| Rogue-01 | 14 | 18.5 | 4.5 | 0.66 | 0.27 | Rogue |
| Including | 14 | 15.5 | 1.5 | 1.15 | 0.50 | |
| Including | 17 | 18.5 | 1.5 | 0.81 | 0.30 | |
| Rogue-02 | 216.5 | 218 | 1.5 | 0.60 | - | Rogue |
| Rogue-03 | 243 | 244 | 1 | 1.22 | 0.90 | Rogue |
| * Values denoted with "-" have not yet been assayed for Ag | ||||||
Table 1: Highlighting significant results received from Ranger-01, Rogue-01, Rogue-02, & Rogue-03. True widths are unknown at this time.
Figure 2: Rottenstone SW - Winter 2024 Drill Holes.
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Ranger Target
Ranger-01 drillhole was drilled to a depth of 314m and tested a conductive anomaly approximately 3km east-south-east of the Rogue target (Figure 2). Prospecting in October 2023 discovered angular, ultramafic boulders and outcrop at this location. Two samples from the October program, 170677 and 170681, returned significant gold values of 5.11 g/t and 1.09 g/t, respectively. After further inspection, it's been determined that Quartz diorite was intersected from 145.05m until the end of the hole at 314m. The main intrusive body was cross-cut with mafic dykes and thin bands of granitic material. The high-grade sections noted in Table 1 contained very fine-grained visible gold. Mineralization was located within higher strain zones with more pronounced foliation and can be seen in the figures below.
Figure 3: Ranger-01, core boxes 51 & 52 showing mineralized interval 225.50-234.48m of granitoids crosscutting massive Quartz Diorite. Core in Figure 4 is circled in red.
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Figure 4: showing 231.15 - 231.27m of Ranger-01 with location of visible gold circled. This section falls within the highlighted intercept of 73.55 g/t Au over 7.5m.
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Figure 5: 20X magnification of visible gold from circled area in Figure 4 above
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Figure 6: 30X magnification showing fine-grained gold and silver smear along cut face of 231.15-231.27 section (Figure 4).
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Rogue Target
The Rogue target also shows significant potential for gold. Three drill holes totalling 866m were drilled at the Rogue target. All three holes intersected gold mineralization. The gold mineralization intersected to date at Rogue appears to be associated with late-stage granitic pegmatites. The Company speculates that the multiple low-grade intercepts (Table 3) and alteration styles encountered (Figure 7) at Rogue point to the potential of a significant gold system on the property. The Rogue and Ranger targets are located approximately 3km apart, across regional strike.
Despite no significant nickel or copper mineralization being intersected, the Company believes there may be a spatial relationship between the pyrrhotite rich sulphide zones encountered and the gold mineralization in the region.
Figure 7: Rogue-02, core boxes 73-76 showing intensely altered metavolcanics with silica flooding and quartz veins. The photo is for geologic context and not representative of mineralized zones encountered at the Rogue target.
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| HOLE ID | Depth (m) | Easting* | Northing* | Elevation (m) | Dip | Azimuth | Target | |
| Rogue-01 | 250.30 | 490106 | 6208238 | 470 | -70 | 100 | Rogue | |
| Rogue-02 | 350.00 | 490103 | 6208240 | 470 | -50 | 325 | Rogue | |
| Rogue-03 | 266.00 | 490006 | 6208293 | 471 | -70 | 030 | Rogue | |
| Ranger-01 | 314.00 | 492758 | 6206675 | 437 | -60 | 310 | Ranger | |
| *Coordinates in UTM NAD83 Zone 13 | ||||||||
Table 2: Winter 2024 Rottenstone SW Drill Hole Summary
Expanded Results
| HOLE ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Target |
| RANGER-01 | ||||||
| Ranger-01 | 58.5 | 60 | 1.5 | 0.25 | 0.30 | Ranger |
| 219 | 220 | 1 | 0.52 | - | ||
| 220 | 221 | 1 | 0.52 | - | ||
| 227 | 228.5 | 1.5 | 164.00 | 33.50 | ||
| 228.5 | 230 | 1.5 | 0.87 | 0.40 | ||
| 230 | 231.5 | 1.5 | 182.00 | 60.80 | ||
| 231.5 | 233 | 1.5 | 19.90 | 2.70 | ||
| 233 | 234.5 | 1.5 | 0.99 | 0.40 | ||
| 234.5 | 235 | 0.5 | 0.34 | |||
| 235 | 236 | 1 | 0.23 | |||
| 238.5 | 239 | 0.5 | 0.27 | - | ||
| 281 | 282.5 | 1.5 | 0.26 | |||
| 282.5 | 284 | 1.5 | 0.25 | |||
| 293 | 294.5 | 1.5 | 6.18 | 1.40 | ||
| 296 | 297.5 | 1.5 | 7.28 | 1.90 | ||
| 297.5 | 298 | 0.5 | 0.91 | 0.20 | ||
| 307 | 308 | 1 | 2.54 | 0.60 | ||
| 309 | 310 | 1 | 2.85 | 0.50 | ||
| 310 | 311 | 1 | 0.27 | |||
| ROGUE-01 | ||||||
| Rogue-01 | 14 | 15.5 | 1.5 | 1.15 | 0.50 | Rogue |
| 17 | 18.5 | 1.5 | 0.81 | 0.30 | ||
| 31.63 | 33.13 | 1.5 | 0.84 | |||
| 34.63 | 35.65 | 1.02 | 0.46 | |||
| 46.15 | 47.65 | 1.5 | 0.29 | 0.30 | ||
| 49.15 | 50.65 | 1.5 | 0.24 | |||
| 61.89 | 63.39 | 1.5 | 0.21 | |||
| 76.37 | 77.87 | 1.5 | 0.25 | 0.20 | ||
| ROGUE-02 | ||||||
| Rogue-02 | 216.5 | 218 | 1.5 | 0.60 | - | Rogue |
| ROGUE-03 | ||||||
| Rogue-03 | 243 | 244 | 1 | 1.22 | 0.90 | Rogue |
| * Values denoted with "-" have not yet been assayed for Ag | ||||||
| ** a cutoff grade of 0.2g/t Au has been used for values in this table | ||||||
Table 3: Results received over 0.2 g/t Au from Ranger-01, Rogue-01, Rogue-02, & Rogue-03. True widths are unknown at this time
"We could not be happier with the results from the first ever drill program at Rottenstone SW," commented Garrett Smith, VP Exploration for Ramp Metals. "While gold wasn't what we were looking for out there, this just goes to show what can happen when you actually go out and test new targets. It also highlights the importance of assaying every meter of core that is drilled, as this discovery could have easily been missed otherwise. We look forward to following up on these results and showing the true potential of this new gold discovery in Saskatchewan."
Next Steps
The Company is currently in the permitting and consultation process for an extensive geophysical, mapping, and sampling program. A follow up fall/winter drill program is also being planned.
Further assays will be submitted in select sections to fill in Multi-Element gaps in results as well as whole rock analysis to aid in further investigation and analysis.
As a result of the discovery, the Company is planning to shift its focus from battery metals to gold exploration and will be updating its website and corporate presentation in the near future.
Geochemical Sampling Procedures
All drill core samples were sent to Saskatchewan Research Council Geoanalytical Laboratories ("SRC") in Saskatoon, Saskatchewan (an accredited laboratory) by secure transport for base and precious metal assay. Base metals were assayed by their ICP3 base metal package, which includes a total of 35 analytes by ICP-OES. All samples that were assayed by the ICP3 base metal package have been analyzed for gold, platinum and palladium using the AU5 Fire Assay Technique. Any remaining samples not sent for ICP3/AU5 were assayed using the AU2 Fire Assay Technique.
All drill holes are systematically logged, photographed and sampled by a trained geologist at Ramp Metals' secure core processing facility. Drill core samples are marked in intervals of up to 1.5m and cut in half using a diamond saw with half sent for assay and the other half saved for reference. Samples are then bagged and zip-tied, with 10-13 bagged samples placed into sealed rice bags for transport to SRC by Company personnel directly. Sample QA/QC procedures were applied by inserting a regular and systematic schedule of standards, blanks and duplicates into the sample stream. Certified standard reference material, blanks and duplicates were inserted into the sample stream at a minimum target of 5% insertion rate in addition to the laboratory's internal quality assurance programs. Blanks were inserted at the start of each batch (35-36 samples) and additionally at the discretion of a trained geologist after samples of high sulphide content. Certified standard reference material and duplicates were inserted into the sample sequence at a rate of 1 in every 30 samples each, alternating between a standard and duplicate every 15 samples.
The Rottenstone SW Property
The Rottenstone SW property is located in the Rottenstone Domain, in Northern Saskatchewan, Canada, approximately 115 kilometers North of La Ronge, Saskatchewan. The property consists of 19 mineral deposit claims covering approximately 32,715 hectares. The Rottenstone SW property is located along a regional NE-SW structure from the historic Rottenstone Mine, which produced 40,000 tons of high-grade nickel-copper-platinum group elements plus gold (Ni-Cu-PGE + Au) ore grading 3.28% Ni, 1.83% Cu and 9.63 g/t (Pt-Pd-Au).
Qualified Person
Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.
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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215704
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Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce a new high-grade gold discovery in Saskatchewan. The Company has received partial results from its winter 2024 drill program at the Rottenstone SW property. Drill hole Ranger-01 intercepted multiple zones of gold mineralization, including 73.55 gt Au and 19.50 gt Ag from 227-234.5m shown in Table 1. It is important to note that Ramp Metals has only received assay results from 153.5-171.5 m & 174.5-314m for Ranger-01 and is currently awaiting results from the top of the hole to 153.5m & the 171.5-174.5m interval.
| HOLE ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Target |
| Ranger-01 | 227 | 234.5 | 7.5 | 73.55 | 19.50 | Ranger |
| Including | 227 | 228.5 | 1.5 | 164 | 33.5 | |
| Including | 230 | 231.5 | 1.5 | 182 | 60.8 | |
| Including | 231.5 | 233 | 1.5 | 19.9 | 2.70 | |
| Ranger-01 | 293 | 298 | 5 | 4.17 | 1.01 | Ranger |
| Including | 293 | 294.5 | 1.5 | 6.18 | 1.40 | |
| Including | 296 | 297.5 | 1.5 | 7.28 | 1.90 | |
| Ranger-01 | 307 | 310 | 3 | 1.81 | 0.37 | Ranger |
| Including | 307 | 308 | 1 | 2.54 | 0.60 | |
| Including | 309 | 310 | 1 | 2.85 | 0.50 |
Table 1: Highlighting significant results received to date from Ranger-01. True widths are unknown at this time.
"We are thrilled to make a significant gold discovery in our first drill program on the property. These intercepts are in line with the highest-grade intercepts drilled in Saskatchewan. These drill results indicate a huge potential at Rottenstone SW and mark an exceptional milestone in Ramp Metals history," states Jordan Black, Chief Executive Officer.
Figure 1: Ranger-01, core boxes 51 & 52 showing mineralized interval 225.5-234.48m of granitoids crosscutting massive gabbrodiorite.
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Figure 2: Rottenstone SW - 2024 Drill Holes.
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Ranger-01 drillhole was drilled to a depth of 314m and tested a conductive anomaly approximately 3km east-south-east of the Rogue target (Figure 2). Prospecting in October 2023 discovered angular ultramafic boulders and outcrop at this location. Two samples from the October program, 170677 and 170681, returned significant gold values of 5.11 g/t and 1.09 g/t, respectively.
Next Steps
The Company is currently in the permitting and consultation process for an extensive geophysical and sampling program. Both ground and airborne geophysics are being proposed in the next phase of exploration.
A further, more detailed release will be distributed when the remainder of pending assays from the drill program have been received and interpreted.
Geochemical Sampling Procedures
All drill core samples were sent to Saskatchewan Research Council Geoanalytical Laboratories ("SRC") in Saskatoon, Saskatchewan (an accredited laboratory) by secure transport for base and precious metal assay. Base metals were assayed by their ICP3 base metal package, which includes a total of 35 analytes by ICP-OES. All samples that were assayed by the ICP3 base metal package will be analyzed for gold, platinum and palladium using the AU5 Fire Assay Technique. Any remaining samples not sent for ICP3/AU5 were assayed using the AU2 Fire Assay Technique.
All drill holes are systematically logged, photographed and sampled by a trained geologist at Ramp Metals' core processing facility. Drill core samples are marked in intervals of up to 1.5m and cut in half using a diamond saw with half sent for assay and the other half saved for reference. Samples are then bagged and zip-tied, with 10-13 bagged samples placed into sealed rice bags for transport to SRC by Company personnel directly. Sample QA/QC procedures were applied by inserting a regular and systematic schedule of standards, blanks and duplicates into the sample stream. Certified standard reference material, blanks and duplicates were inserted into the sample stream at a minimum target of 5% insertion rate in addition to the laboratory's internal quality assurance programs. Blanks were inserted at the start of each batch (35-36 rice bags) and additionally at the discretion of a trained geologist after samples of high sulphide content. Certified standard reference material and duplicates were inserted into the sample sequence at a rate of 1 in every 30 samples each, alternating between a standard and duplicate every 15 samples.
The Rottenstone SW Property
The Rottenstone SW property is located in the Rottenstone Domain, in Northern Saskatchewan, Canada, approximately 115 kilometers North of La Ronge, Saskatchewan. The property consists of 12 mineral deposit claims covering approximately 17,285 hectares. The Rottenstone SW property is located along a regional NE-SW structure from the historic Rottenstone Mine, which produced 40,000 tons of high grade nickel-copper-platinum group elements plus gold (Ni-Cu-PGE + Au) ore grading 3.28% Ni, 1.83% Cu and 9.63 g/t (Pt-Pd-Au).
Qualified Person
Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.
About Ramp Metals Inc.
Ramp Metals is a battery and base metal exploration company with two flagship properties located in northern Saskatchewan and one property in Nye County, Nevada. The management team is passionate about green field exploration and new technologies. The vision of Ramp Metals is to make the next big discovery required to fuel the green technology movement.
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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
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Jordan Black Chief Executive Officer and Director, Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company"), and his team joined Omar Khafagy Manager, Corporate Access, Toronto Stock Exchange (TSX), to open the market and celebrate the Company's listing to TSX Venture Exchange (TSXV).
Ramp Metals is a battery and base metal exploration company with two flagship properties located in northern Saskatchewan and one property in Nye County, Nevada .
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HIGHLIGHTS
PULJU NICKEL PROJECT
The known nickel mineralisation in the CLGB is typically associated with ultramafic cumulate and komatiitic rocks with high-grade, massive sulphide lenses and veins enveloped by very large, lower grade disseminated nickel sulphide near-surface. The disseminated nickel at Pulju is widespread and indicates the presence of a vast nickel-rich system.
Following the conclusion of the 2023 drilling campaign, in March 2024, Nordic Nickel reported an updated Mineral Resource Estimate for the Hotinvaara Prospect at the Pulju Project which now comprises 418 million tonnes grading 0.21% Ni, 0.01% Co and 53ppm Cu for 862,800 tonnes of contained Ni, 40,000t of contained Co and 22,100t of contained Cu1.
Pulju is located 195km from Boliden’s Kevitsa Ni-Cu-Au-PGE mine and 9.5Mtpa processing plant in Sodankylä, Finland. Kevitsa provides feed for the 35ktpa Harjavalta smelter, which is located approximately 950km to the south and processes concentrate from Kevitsa’s low-grade disseminated nickel sulphide ore (Mineral Resource Estimate Ni grade ~0.21%). Europe’s only other smelter is Terrafame’s 37ktpa Sotkamo smelter, located 560km south-east of Pulju.
Figure 1: Location of Pulju Nickel Project and Europe’s entire nickel smelting and refining capacity.
Management Comment
Commenting on the June Quarter, Nordic Nickel Managing Director, Todd Ross, said: "We are very pleased with the progress made during this quarter despite continued challenging market conditions.
“The acquisition of the extensive BOT drilling database combined with historical drilling results and geophysics across Pulju provides us with a wealth of data to guide our future exploration efforts. This data, combined with the third summer mapping program now underway is another critical step in identifying new drilling targets and advancing our understanding of the Pulju Project's geology.
“Additionally, the ongoing metallurgical test work at Hotinvaara is crucial for assessing the economic potential of the project and advancing an initial scoping study, and we eagerly anticipate sharing the final results in the coming quarter.
“These activities underscore our commitment to advancing the Pulju Project and our strategic vision of supplying sustainably sourced nickel and battery metals to Europe. With that in mind, discussions with potential strategic partners continue which will allow us to ultimately fully unlock the value of Pulju for our shareholders.
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This article includes content from Nordic Nickel, 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.
Highlights
Managing Director, Mr Fairhall said:
“Horden Lake continues to deliver - from both step-out, and infill from historical drilling. In the shallow areas, results indicate excellent continuity, in places widening, of expected mineralisation, along with a suite of valuable by-products which were overlooked in previous drilling.
Excitingly, deeper drilling and DHEM again combine to show excellent down plunge continuity of the deposit, and the huge potential for it to continue at depth. We now have a zone over 600m extending the mineralisation strike length that exhibits strong potential for expansive down-plunge extension with further drilling, potentially similar to that observed in the central zone which extends to over 490m vertical (and remains open).
Overview
Horden Lake is a copper dominant Cu-Ni-Au-PGM-Co Project located 131km north-northwest of Matagami, in Quebec Canada. The Project hosts an indicated and inferred mineral resource estimate of 28mt at 1.5% CuEq, as a result of over 52,464m of drilling previously completed on the property. Pivotal has recently completed a 7,097m / 34 hole diamond drilling campaign of which 1,800m / 9 holes have been reported prior to this announcement.
The objectives of the drilling program were to infill missing by-product multi-element assay information, target resource expansion potential (which remains open at depth across its full extent) and collect a distribution of metallurgical sample for a complete test work program. Downhole EM surveys have also been completed to dimension future exploration potential and targeting.
Figure 1: Drill plan map with significant 2024 results, Horden Lake Cu-Ni-Au-PGM Project
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This article includes content from Pivotal 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.
Blackstone Minerals is well-positioned to leverage a projected nickel supply deficit as it strives to become a vertically integrated producer of low-cost, low-carbon, battery-grade nickel. Key to this is Blackstone’s Ta Khoa project in Vietnam, an emerging hub for the electric vehicle market.
As the world moves closer to a sustainable net-zero future, the need for battery metals continues to mount and nickel may soon be among the metals to see a supply crunch. Though its roots are in the stainless steel sector, it's also a critical component of lithium-ion batteries.
Given that many nations are aiming to replace combustion vehicles with electric cars by 2030, the metal is already experiencing a massive spike in demand. Benchmark Minerals expects the need for battery-grade nickel will increase about 950 percent by 2040.
It's imperative to ramp up global nickel production but the resource sector, for its part, must do so with a much-reduced carbon footprint to influence the sustainability of the entire value chain. Blackstone Minerals (ASX:BSX,OTC:BLSTF,FRA:B9S) recognizes this. As a vertically integrated producer of low-cost, low-carbon nickel, the company aims to become a leading source of low CO2 emission nickel sulphide. Its flagship Ta Khoa project in Vietnam is representative of that goal.
Blackstone Minerals business structure schematic
With over 20 active mines and a burgeoning technology sector, Vietnam is on the road to becoming a hub of electric vehicle production and innovation, with low labor costs and regulated electricity pricing further driving its growth. Steadily increasing foreign direct investment in the region is indicative of this as the country seeks to attract $50 billion in new foreign investment by 2030.
Blackstone is uniquely positioned to take advantage of this, thanks to two factors. US President Joe Biden's Inflation Reduction Act, which came into force in August 2022, represents the largest investment into climate action in United States history. A similar initiative is rolling out in the European Union (EU), which maintains a Free Trade Agreement with Vietnam — something multiple partners of the company have expressed interest in.
Blackstone's Ta Khoa Project consists of two streams, the Ta Khoa Nickel Mine and the Ta Khoa Refinery. Recent milestones point to Blackstone’s commitment to advancing this game-changing project.
These milestones include a memorandum of understanding with Cavico Laos Mining to collaborate in a number of areas associated with CLM’s nickel mine in Lao People's Democratic Republic and supply of nickel products for Blackstone’s Ta Khoa Refinery in Vietnam.
Blackstone also partnered with Arca Climate Technologies to further investigate the carbon capture potential at the Ta Khoa Project through carbon mineralisation, and explore opportunities to utilise Arca’s carbon capture technologies within the project.
In a bid to collaborate on the supply of renewable wind energy to the Ta Khoa Project, Blackstone signed a direct power purchase agreement with Limes Renewables Energy.
Blackstone received AU$2.8 million as an advance from a research & development (R&D) lending fund backed by Asymmetric Innovation Finance and Fiftyone Capital. The advanced payment reflects the significant investment by Blackstone to develop the Ta Khoa Refinery process and Blackstone’s unique strategy to convert nickel concentrate blends into battery products in the form of precursor cathode active material (pCAM).
In December 2023, Blackstone entered into an option agreement with CaNickel Mining to acquire the Wabowden nickel projectlocated in the world-class Thompson Nickel Belt in Manitoba, Canada.
The Wabowden project will have the potential to fill the Ta Khoa Refinery, removing dependence on third party feed sources.
The company has signed a non-binding MOU with the Development for Resources Environmental Technology joint stock company (DRET) to investigate opportunities to repurpose and trade waste material (or residue) from the Ta Khoa Refinery into construction material products. Moreover, it has also progressed the Ta Khoa Refinery byproduct offtake strategy with Vietnam Chemical Group (VinaChem), PV Chemical and Equipment Corporation (PVChem) and Nam Phong Green Joint Stock Company (Nam Phong) to sell Ta Khoa Refinery byproducts, being manganese sulphate (or epsomite) and sodium sulphate.
As the company plans to build a global nickel business, Blackstone signed a non-binding memorandum of understanding with Yulho Co. Ltd (Yulho) and EN Plus Co. Ltd (EN Plus) to establish a collaboration across the businesses including EN Plus and Yulho who are in joint venture on the Ntaka Hill nickel sulphide project in Tanzania, and the Dinagat Island nickel laterite project in the Philippines.
Blackstone holds a 90 percent interest in the Ta Khoa Nickel-Copper-PGE Project, located 160 kilometers west of Hanoi in the Son La Province of Vietnam. It includes an existing modern nickel mine built to Australian Standards, which is currently under care and maintenance. The Ban Phuc nickel mine successfully operated as a mechanized underground nickel mine from 2013 to 2016.
Blackstone intends to complement the existing mine through the installation of a large concentrator, refinery and precursor facility, supporting integrated on-site production of nickel, cobalt and manganese precursor products for the Asia-Pacific market. One of Blackstone's key Research and Development objectives with Ta Khoa is to develop a flowsheet that will support this production.
To fulfill this goal, Blackstone is focusing on a partnership model, collaborating with groups committed to sustainable mining. It is also working to minimize its carbon footprint and implement a vertically integrated supply chain.
Hamish Halliday is a geologist with over 20 years of corporate and technical experience. He is also the founder of Adamus Resources Limited, an AU$3 million float that became a multimillion-ounce emerging gold producer.
Scott Williamson is a mining engineer with a commerce degree from the West Australian School of Mines and Curtin University. He has over 10 years of experience in technical and corporate roles in the mining and finance sectors.
Dr. Frank Bierlein is a geologist with 30 years of technical and corporate experience, focusing on grassroots to mine-stage mineral exploration, target generation, project management and oversight, due diligence studies, mineral prospectivity analysis, metallogenic framework studies and mineral resources market and investment analysis.
Alison Gaines has over 20 years of experience as a director in Australia and internationally. She has experience in the roles of board chair and board committee chair, particularly remuneration and nomination and governance committees. She is also the managing director of Gaines Advisory P/L and was recently global CEO of international search and board consulting firm Gerard Daniels, with a significant mining and energy practice.
Gaines has a Bachelor of Laws and a Bachelor of Arts (hons) from the University of Western Australia, a Graduate Diploma in Legal Practice from Australian National University and an honorary doctorate of the University and Master of Arts (Public Policy) from Murdoch University. She is a fellow of the Australian Institute of Company Directors and holds the INSEAD certificate in corporate governance. She is currently the governor of the College of Law Ltd, and non-executive director of Tura New Music.
Daniel Lougher’s career spans more than 40 years involving a range of exploration, feasibility, development, operations and corporate roles with Australian and international mining companies including a period of eighteen years spent in Africa with BHP Billiton, Impala Plats, Anglo American and Genmin. He was the managing director and chief executive officer of the successful Australian nickel miner Western Areas Ltd until its takeover by Independence Group.
Lougher also holds a first class mine manager’s certificate of competency (WA) and is a fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). Lougher is the chair of the company’s technical committee and nomination committee.
Jamie Byrde has over 16 year's experience in corporate advisory, public and private company management since commencing his career with big four and mid-tier chartered accounting firms positions. Byrde specializes in financial management, ASX and ASIC compliance and corporate governance of mineral and resource focused public companies. He is also currently company secretary for Venture Minerals Limited.
Tessa Kutscher is an executive with more than 20 years of experience in working with C-Level executive teams in the fields of business strategy, business planning/optimisation and change management. After starting her career in Germany, she has worked internationally across different industries, such as mining, finance, tourism and tertiary education.
Kutscher holds a master’s degree in literature, linguistics and political science from the University of Bonn, Germany and a master’s degree in teaching from Ludwig Maximilian University of Munich.
Andrew Strickland is an experienced study and project manager, a fellow of the Australian Institute of Mining and Metallurgy, University of WA MBA graduate, with undergraduate degrees in chemical engineering and extractive metallurgy from Curtin and WASM.
Before joining Blackstone, Strickland was a senior study manager for GR Engineering Services where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects. Over his career, he has held a variety of project development roles across both junior to mid-tier developers (including Straits Resources, Perseus Mining and Tiger Resources) and major multi-operation producers (South32).
Graham Rigo is an experienced study manager with over a decade of on-site production experience, holding undergraduate degrees in chemical engineering and finance from Curtin University, WA.
Before joining Blackstone, Rigo was a study manager for Ausenco where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects over a range of different commodities.
Rigo has over 11 years of site experience in nickel and cobalt hydromet production experience, in supervisory/superintendent level roles as well as process engineer experience.
Lon Taranaki is an international mining professional with over 25 years of extensive experience in all aspects of resources and mining, feasibility, development and operations. Taranaki is a qualified process engineer from the University of Queensland Australia. He holds a Master of Business Administration, and is a fellow of the Australian Institute of Company Directors. Taranaki has established his career in Asia where he has successfully worked (and lived) across multiple jurisdictions and commodities ranging from technical, mine management and executive management roles.
Prior to joining Blackstone in February 2022, Taranaki was the chief executive officer of Minegenco, a renewable-energy-focused independent power producer. Preceding this, he was managing director of his private consultancy, AMG Mining Global, where he was providing services to the mining industry in Singapore, Guyana, Indonesia and Cambodia. Additionally, Taranaki has held various senior positions with Sakari Resources, PTT Asia Pacific Mining, Straits Resources, Sedgmans and BHP Coal.