Renforth Resources Inc. (CSE:RFR) (CNSX:RFR.CN) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") is pleased to inform shareholders of the assay results from the 1,203m drilled in 7 holes within the 275m strike length of the stripped area at Victoria West, one of several mineralized areas within our >300 km 2 Surimeau District Property in NW Quebec. SUR-21-28 was drilled for 234m at a dip of -80 as an undercut of SUR-21-26 and SUR-21-27 in the western end of the stripped area, between two historic trenches now within the stripped area. SUR-21-28 assayed 3.46% Ni and 491 ppm Co over 1.5m between 196.5 and 198m down the hole as presented in the table below, within a broad mineralized zone of 170.55m, between 40.9 and 211.45m down the hole which averaged 0.16% Ni and 100.2 ppm Co . Within this broad zone of mineralization there are higher grade sub-zones, as seen in this and other holes drilled in the December program, in this case the zone between 187.5 and 199.5m down the hole, a length of 12m, averaged 0.54% Ni and 138.7 ppm Co , encapsulating the 3.46% Nickel value. Renforth's current interpretation of the mineralization seen at Victoria West is that there are higher grade bands of mineralization within the extent of the mineralized magnetic ultramafic body. The exceptional 3.49% Ni value points to the high grade potential present at Victoria West, which has only seen 5,626m of drilling by Renforth over 2.2km of strike within the known 6km strike length of Victoria West, in the western end of a 20km long magnetic feature also mineralized at its eastern end.
"I am very happy with these results, they support our interest in Surimeau, an interest which only continues to grow. We will soon drill again as we work to define not "whether" there are battery metals within the 6km km long Victoria West area, but instead, answer the question of just how well endowed with battery metals this "hiding in plain sight" discovery really is. We will also be prospecting, following up on the presence of lithium and REEs documented at Surimeau. I expect this property will continue to deliver excitement to Renforth's shareholders for the foreseeable future" states Nicole Brewster, President and CEO of Renforth.
December 2021 Assay Results
Presented below are the assay results for the 7 holes drilled in December. These are colour coded in order to show, in green, the broader, lower grade mineralized intervals. Within these the contained higher grade zones are given, those above an average of 0.2% Ni are in red.
*Assay results are as measured in the core box. Not true width, true widths are not currently known
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a "qualified person" pursuant to NI 43-101.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#Unit 1B - 955 Brock Road, Pickering ON L1W 2X9
Follow Renforth on Facebook, LinkedIn and Instagram!
About Renforth
Renforth wholly owns the ~260 km 2 Surimeau District Property, which hosts numerous areas of polymetallic and gold mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. In addition to this the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.
In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.
Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'believe', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
(TheNewswire)
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February 23, 2023 TheNewswire - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) (" Renforth" or the "Company") would like to invite interested parties to visit our booth, #2136, during the Prospectors & Developers Convention in Toronto, Ontario to be held at the Metro Convention Centre March 5-8, 2023.
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EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 50 th Emerging Growth Conference on February 22, 2023.
The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.
Register for the conference here.
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February 22, 2023, Schedule: (Eastern Time)
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8:30
Virtual Lobby opens
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9:00
Introduction
9:05 - 9:35
Rail Vision (NASDAQ: RVSN)
Shahar Hania, CEO / Co Founder
9:40 - 10:10
SmartCard Marketing Systems Inc., (OTCQB: SMKG)
Massimo Barone, CEO
10:15 - 10:45
Transition Metals Corp. (OTC Pink: TNTMF) (TSXV: XTM)
Scott Alexander McLean, President / CEO
10:50 - 11:20
Trevi Therapeutics, Inc. (NASDAQ: TRVI)
Jennifer Good, President / CEO,
David Clark, CMO,
Farrell Simon, SVP Commercial and Strategy
11:25 – 11:55
Cloud DX, Inc. (OTCQB: CDXFF) (TSXV: CDX)
Robert Kaul, CEO
12:35 – 1:05
Vivos Therapeutics, Inc. (NASDAQ: VVOS)
Kirk Huntsman, CEO
2:25 – 2:35
Cyngn, Inc. (NASDAQ: CYN)
Ben Landon, VP Business Development
2:40 – 2:50
Regen BioPharma, Inc., (OTC PINK: RGBP) and (OTC PINK: RGBPP)
David Koos, President / CEO & Harry M. Lander, Ph.D. Senior Scientific Consultant
2:55 – 3:05
Renforth Resources Inc., (CSE: RFR) (OTCQB: RFHRF)
Nicole Brewster, President & CEO
3:10 – 3:20
Winning Brands (OTC Pink: WNBD)
Eric Lehner, CEO Winning Brands, Vincent J. Vincent, CEO of GestureTek & Erol Vekil, President of GestureTek
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Renforth Resources (CSE: RFR) is pleased to announce that the company is presenting a live virtual corporate update hosted by Red Cloud Financial Services on February 15th, 2023 at 2:00 pm ET.
We invite our shareholders, and all interested parties to register for the webinar and participate in the live Q&A session at the end of the presentation moderated by Red Cloud.
The replay will be emailed out to all webinar registrants proceeding the event and will also be available on the Red Cloud website.
For more information and to register: https://redcloudfs.com/rcwebinar-cse/.
Join Nicole to hear the latest on Renforth's Surimeau property and its developing large scale, low grade battery metals systems with surface mineralization, road access and hydroelectrical power on the property in Quebec, contiguous to the Canadian Malartic open pit mine, a good precented for Renforth's uninhabited Surimeau's future development.
Commodities to be covered: Ni, Co, Zn, Cu, Ag, Au
About Renforth Resources
About RenforthRenforth is focused on Quebec's newest battery metals district, our wholly owned ~330 km2 Surimeau District Property, which hosts several known areas of polymetallic "battery metals" mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. Additionally, the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.Renforth also holds the Nixon-Bartleman property, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
About Red Cloud Financial Services Inc.
Red Cloud Financial Services Inc. is a comprehensive capital markets platform that provides a full range of unconflicted corporate access and media related services. Offering these services as a unified platform provides the ultimate value proposition for junior resources companies in their efforts to broaden their capital markets presence.
About Red Cloud Securities Inc.
Red Cloud Securities Inc. is an IIROC-regulated investment dealer focused on providing unique comprehensive capital market services and innovative financing alternatives to the junior resource sector. The company was founded by capital markets professionals with extensive experience in the junior mining industry.
For further information:
Renforth Resources
Nicole Brewster, President and CEO
4168181393
nicole@renforthresources.com
For additional information contact marketing@redcloudfs.com or visit:
www.redcloudfs.com
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(TheNewswire)
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November 27 th 2022 TheNewswire Pickering, ON - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") is pleased to advise shareholders that channels cut within the 3 stripped trenches at Lalonde, which are being undercut in the current drill program, did intersect surface battery metals mineralization as measured in the field and confirmed by the assay laboratory.
In addition to this, Renforth wishes to advise shareholders that 3 drill holes, Prop5 (SUR-22-30), Prop4 (SUR-22-31) and Prop2 (SUR-22-31), have been completed at Lalonde in the ongoing Surimeau drill program, successfully intersecting the surface mineralization in the undercutting drill hole. Each hole drilled starting in the sediments to the north, drilled through the mineralized/ultramafic package to the point of contact with the sediments in the south. As each hole intersected the complete package, a second southern or undercut hole was not required (as previously planned), therefore, those metres will be used to the east, based upon the analysis of the 2021 geophysical survey data which Renforth has just received, inserted below.
Lalonde Area Initial Proposed Drill Holes
Click Image To View Full Size
Nickel Values in Trenching
In each of the 3 trenches stripped at Lalonde one channel was cut and sampled, when accessible. Unfortunately, sample gaps occur in Trench 9, within the best mineralized zone, potentially artificially breaking up the mineralized interval due to access issues, namely flooding with water making it impossible to obtain samples.
Click Image To View Full Size
It is Renforth's interpretation that, in each of the 3 channels cut within the trenches that are perpendicular to the magnetic anomaly at Lalonde, each surface mineralized "shoulder" of the anomaly was intersected, successfully yielding ultramafic nickel mineralization.
Geophysical Analysis
Renforth commissioned an analysis and interpretation of the geophysical data obtained during the airborne survey which Renforth flew over the Victoria mineralized system and a portion of the Lalonde mineralized system. One of the products of this analysis was a conductivity map, showing conductive anomalies within the overall magnetic anomaly at Victoria and Lalonde. This sort of analysis is interesting as, for example, copper is conductive but not magnetic, the magnetic anomaly that stretches over ~20km at Victoria, and ~9km at Lalonde, depicts the ultramafic intrusive, which we know to be carrying nickel/cobalt and some amount of PGEs. Additionally, while nickel is conductive it is much less conductive than copper, it is reasonable to assume that copper would perform better in an analysis of conductivity. Within the location of the ultramafic we do see a graphitic shale that is copper/zinc bearing, along with calc-silicate alteration carrying the same mineralization, however, the magnetic anomaly does not reflect these structures, there is potential that the conductivity map does. We will be testing this hypothesis.
Surimeau Conductivity Map (Decay Constant with Picked Anomalies)
Click Image To View Full Size
The map above locates the stripping (at Victoria and Lalonde) and the drilling (at Victoria) to date relative to the conductive anomalies, along with the proposed drill holes. The receipt of this information has caused Renforth's geologists to modify planned, and to add, drill holes targeting the conductive anomaly. It is interesting to note that the stripping, and a lot of the drilling, to date at both Victoria and Lalonde, all of which intersected the ultramafic and some amount of nickel mineralization, has largely missed the conductive anomalies.
Zoomed in Lalonde Detail
Zooming in on the Lalonde section of the map indicates that the conductivity anomaly is strongest where the road intersects Lalonde, this suggests that the stripping and drilling to date was too far west, with regard to conductivity and potential copper mineralization. However, despite the lack of a conductive anomaly, nickel mineralization has been intersected on surface and in drill holes in the area worked. As Renforth works at Lalonde, which has little to almost no useful historical information to guide exploration, it is becoming clear that while the mineralization is very similar to Victoria it is not identical, with possibly more copper/zinc intersected in the current drilling than at Victoria.
Click Image To View Full Size
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton OGQ a "qualified person" pursuant to NI 43-101.
For further information please contact:
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
Follow Renforth on Facebook, LinkedIn and Instagram!
About Renforth
Renforth is focused on Quebec's newest battery metals district, our wholly owned ~330 km 2 Surimeau District Property, which hosts several known areas of polymetallic "battery metals" mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. Additionally, the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.
In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.
Renforth also holds the Nixon-Bartleman property, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may', ‘will', ‘plan', ‘expect', ‘believe', ‘anticipate', ‘estimate', ‘intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
Copyright (c) 2022 TheNewswire - All rights reserved.
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(TheNewswire)
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November 23, 2022 TheNewswire - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") announces that the previously announced private placement has closed oversubscribed, with a total of $1,558,100 gross funds raised in a combination of flow through and non-flow through funds. The Company has closed the final tranches of the previously announced non-brokered private placement for additional gross proceeds of C$869,300 from the sale of 580,000 non-flow through units of the Company at a price of C$0.035 per unit and 21,225,000 flow-through units of the Company at a price of C$0.04 per flow-through unit. Each non-flow through unit consisted of one common share of the Company and one common share purchase warrant. Each flow through unit consisted of one common share to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one half of one warrant. Each whole warrant entitles the holder to purchase one common share at a price of C$0.06 for a period of 24 months following the distribution date. In connection to this tranche of the financing, the company paid a cash commission of $44,850 and issued 1,207,000 finders warrants. The finders warrants are exercisable at a price of C$0.06 for a period of 24 months.
Renforth is currently drilling on the Company's wholly owned 330 sq km Surimeau District Property with the first drillhole at Lalonde almost completed, Prop5 as noted in the map below. Logging of the first half of the drill hole records visual mineralization near the top of the hole, as anticipated based upon mapping of the stripped area which the drill hole in undercutitng.
Technical disclosure in this press release has been reviewed and approved by Brian H. Newton P.Geo, a "qualified person" pursuant to NI 43-101.
For further information please contact:
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
Follow Renforth on Facebook, LinkedIn and Instagram!
About Renforth
Renforth is focused on Quebec's newest battery metals district, our wholly owned ~330 km 2 Surimeau District Property, which hosts several known areas of polymetallic "battery metals" mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. Additionally, the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.
In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.
Renforth also holds the Nixon-Bartleman property, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may', ‘will', ‘plan', ‘expect', ‘believe', ‘anticipate', ‘estimate', ‘intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
Copyright (c) 2022 TheNewswire - All rights reserved.
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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.
Click here for the full ASX Release
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
Click here for the full ASX Release
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.
