TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to reiterate high grade gold ("Au") and silver ("Ag") assays from results received from SGS Labs Canada ("SGS"). Internal QAQC review by TDG, working with Moose Mountain Technical Services ("MMTS"), is ongoing and therefore results are still considered preliminary. Drill results reported so far are from 7 of 51 completed diamond drillholes in 2021 at TDG's 100% owned former producing high grade gold-silver Shasta mine located in the historical Toodoggone Production Corridor of north-central B.C. TDG has also reported preliminary results from 3 of 6 historical holes drilled at Shasta in 2007 that were resampled by TDG in 2021
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TDG Gold Corp. Drills 95.5 Metres of 1.35 g/t Gold Equivalent North of Shasta Creek Zone, Shasta Mine, Toodoggone, B.C.
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce the results of diamond drillhole SH21-006 from its 2021 drill program at TDG's former producing high-grade gold-silver Shasta Mine located in the historical Toodoggone Production Corridor of north-central B.C. Highlights include 95.5 metres ("m") of 0.98 grams per tonne ("g/t") gold ("Au") and 29 g/t silver ("Ag") [1.35 g/t AuEq*] from 27.5-123.0 m depth (see Table 1).
As with TDG's recently published drillholes from the 2021 Shasta drill program (see TDG news releases January 04, 2022 and January 11, 2022), drillhole SH21-006 demonstrates continuity of grade and mineralization along with confirmation of grades of the surrounding historical holes and validation of the expected dimensions of mineralized zone in that section of Shasta (Figure 1). An oblique cross-section is presented in this news release that spans the Creek, JM and Upper Creek Zones (Figure 3).
Drillhole SH21-006 represents the most northerly hole drilled at the Shasta Creek Zone target in the 2021 drill program and spanned the northern portion of the Creek Zone across to the northern portion of JM Zone. The drillhole trace started approximately 150 m north of the Creek Pit and ending approximately 300 m north of the JM Pit (Figure 1). The purpose of SH21-006 was to step out to the north of 2021 drilling and infill between historical drillholes, including SH89-40, SH89-41, SH89-55 and SH89-56 (et al.), highlights from which include 37.0 m of 1.84 g/t Au and 106 g/t Ag [3.16 g/t AuEq*] in SH89-40; and 12.3 m of 1.60 g/t Au and 120 g/t Ag [3.10 g/t AuEq*] in SH89-55 (see Table 2 for historical drillhole highlights).
Table 1. Significant Results from Hole SH21-006.
*Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
** Intervals are core-length weighted. True width is estimated between 75 to 95 % of core length.
Drillhole SH21-006 intersected variably silicified, potassic-altered volcaniclastic rocks below the Shasta Fault (at 17.4 m) that carried a mineralized assemblage of dominantly pyrite and acanthite associated with quartz-carbonate veins, composite vein sets and breccias. Sulphide mineralization was identified as disseminated throughout and vein-vein selvage hosted Figure 2 presents the style and grade of typical mineralization encountered.
The northern portions of the Creek, JM and Upper Creek Zones represent areas for potential expansion of the Mineralized Target Zone at Shasta because historical drill holes in the vicinity neglected to sample near surface intervals and instead focused on visually identifying higher grades for assay in concert with typical cut-off grades at the time of mining (~ > 5 g/t Au). With further drilling, this area (Figure 1, and identified in Figure 3) has the opportunity to add minable tonnage to a Shasta resource (if defined) and decrease strip ratio in the vicinity as the closest historical underground workings are over 100 m to the west.
Figure 1. Plan view of the northern Shasta Creek Target Zone/JM Target Zone (Hole SH21-006).
Figure 2. Shasta drillhole SH21-006; mineralization encountered grading 1.46 Au g/t, 69 g/t Ag [2.32 g/t AuEq*] from 43.5 m to 46.5 m depth.
Figure 3. Oblique Cross Section of Shasta Creek/JM/Upper Creek Target Zone(s) (Hole SH21-006, and historical holes adjacent to 2021 drilling).
Table 2. Significant Results from Historical Holes Adjacent to SH21-006.
* "% Assayed" is the assayed portion of the drillhole in the historical database, compared to total drilled length
**Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
** Intervals are core-length weighted. True width from historical core is unknown.
All 2021 drill holes are HQ sized drill cores. Particulars for drill holes (location, depth, etc.)are presented in Table 3. Assay results for remaining 2021 drillholes are still pending at this time.
Table 3. Drillhole particulars.
QA/QC
Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to an SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. 2021 Drill core was cut in half (1/2 HQ core) and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker Mine site, to Bandstra Transportation Systems in Prince George, B.C., and ultimately to SGS laboratory Burnaby, B.C. Core samples were prepared for analysis according to SGS method PRP89: dry samples to 105°C, crush to 75 % passing 2 mm, split 250 g, pulverize 85 % passing 75 microns. Samples were analyzed following procedures summarized in Table 4, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).
Table 4. Au and Ag Analytical Methods
* Sample C00126417 returned > 1000 g/t Ag in over limit method GO_ICP42Q100, and is currently pending a second over limit using method GO_FAG37V. For purposes of this News Release, Sample C00126417 has been capped at 1000 g/t Ag, and is reflected in any calculations for composite interval purposes.
Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested. For the purposes of this press release, results are ‘preliminary' and thus have not undergone TDG's comprehensive QAQC investigations.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results. Further data review is underway, in order to verify the validity of the data for the anticipated NI 43-101 compliant mineral resource estimate.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
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.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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TDG Gold Corp. Intercepts 76.71 g/t Gold and 1,725 g/t Silver 75 metres from Surface at Shasta, Toodoggone District, BC
A summary of high grade intercepts to date is highlighted below and detailed in Table 1.
- SH21-004: 21.6 g/t Au & 593 g/t Ag over 0.5 m
- SH21-005: 25.22 g/t Au & 1189 g/t Ag over 0.5 m
- SH21-006: 76.71 g/t Au & 1725 g/t Ag over 0.5 m
- SH21-008: 20.8 g/t Au & 582 g/t Ag over 0.5 m
…This sample was previously "capped" at 1,000 g/t Ag, pending overlimit analysis.
High grade gold-silver intercepts occur in proximity to the mineralizing structure(s), where intense silicification, potassic alteration and veining produce a hydrothermal breccia of host rocks. These high grade ‘pods' were the focus of historical mining and production efforts and are surrounded by significant widths of ‘halo'-style medium to lower grade mineralization, which TDG is incorporating in a bulk-mining scenario as part of working towards an open-pit NI 43-101 compliant mineral resource estimate. This mineralization style is characteristic of the low sulphidation epithermal deposits located within the Toodoggone District.
TDG's interpretation of results received to date is that the data provide corroborative evidence with the historical drilling at Shasta and confirms the presence of a mineralized breccia body at Shasta which extends over 400 metres ("m") from north to south at the Creek Zone with the potential for further mineralization at depth, to the north, south and east towards the JM Zone. Drill results the JM Zone are still pending along with drillholes testing for potential extension of the mineralization between the Creek and JM Zones, and also 700 metres to the south of the JM Pit at the Cayley-Rainier Zone.
In 2020-2021, TDG recompiled over 28,000 m of historical drilling at Shasta, which indicated less than 50% of the historical core had been assayed compared to the total length of the drillhole. Historical efforts were focused on the high grade pods and the material comprising the halo was left un-assayed. This information was used to target TDG's 2021 diamond drill program with the aims of validating the historical drillhole data, and testing extensions around the historical workings and mineralized target zones.
In total, TDG completed 8,048 m of diamond drilling (> 90% oriented core) at Shasta. This amount of oriented core data collected will enable Company geologists to understand vein/mineralization orientations and sequence different generations of mineralizing events, to better understand and target future endeavours. All holes were drilled within the Permitted Mine Area ("PMA") and covered approximately 60% of the known mineralized target zones at Shasta. In 2022, TDG expects to publish an inaugural NI 43-101 Mineral Resource Estimate for Shasta and to continue expanding the gold and silver mineralized footprint with subsequent drilling on and off the PMA, under a Notice of Work ("NoW") authorization, granted in 2021.
TABLE 1. High grade gold-silver intercepts from previously published diamond drillholes SH21-001 to SH21-008 and SH07-01 to SH07-003.
Drillhole | Depth From | Depth To | Length | Au | Ag | AuEq |
SH21-004 | 69.0 | 69.5 | 0.5 | 21.60 | 593 | 29.01 |
SH21-004 | 69.5 | 70.0 | 0.5 | 13.80 | 641 | 21.81 |
SH21-004 | 71.0 | 71.5 | 0.5 | 11.00 | 336 | 15.2 |
SH21-005 | 96.5 | 97.0 | 0.5 | 12.00 | 474 | 17.93 |
SH21-005 | 97.5 | 98.0 | 0.5 | 15.83 | 851 | 26.47 |
SH21-005 | 98.0 | 98.5 | 0.5 | 25.22 | 1189 | 40.08 |
SH21-006 | 28.0 | 28.5 | 0.5 | 5.70 | 558 | 12.68 |
SH21-006 | 51.5 | 52.0 | 0.5 | 13.39 | 847 | 23.98 |
SH21-006 | 98.5 | 99.0 | 0.5 | 76.71 | 1725 | 98.27 |
SH21-008 | 66.0 | 67.0 | 1.0 | 15.00 | 44.5 | 15.56 |
SH21-008 | 68.0 | 68.5 | 0.5 | 8.63 | 135 | 10.32 |
SH21-008 | 72.0 | 72.5 | 0.5 | 15.50 | 165 | 17.56 |
SH21-008 | 72.5 | 73.0 | 0.5 | 11.40 | 218 | 14.13 |
SH21-008 | 75.0 | 75.5 | 0.5 | 20.80 | 582 | 28.08 |
SH21-008 | 75.5 | 76.0 | 0.5 | 20.40 | 443 | 25.94 |
SH21-008 | 77.0 | 77.55 | 0.55 | 7.36 | 384 | 12.16 |
SH21-008 | 83.5 | 84.0 | 0.5 | 5.86 | 417 | 11.07 |
SH21-008 | 120.7 | 121.25 | 0.55 | 6.36 | 367 | 10.95 |
SH07-01 | 69.0 | 70.1 | 1.1 | 7.53 | 329 | 11.64 |
SH07-01 | 82.0 | 84.0 | 2.0 | 7.80 | 331 | 11.94 |
*Gold equivalent (AuEq) is used for illustrative purposes, to express the combined value of Au and Ag as a percentage of Au. Calculations are uncut and no allowances have been made to accommodate potential recovery losses that would occur in a mining scenario. AuEq is calculated using 80:1 silver to gold ratio.
** Intervals are core-length weighted. True width is estimated between 75 to 95 % of core length, and core recovery is calculated to be > 95 %
***Calculated composites/intercepts are truncated to 2 significant digits for Au/AuEq and the nearest whole number for Ag.
Previously published results from diamond drillholes SH21-001 to SH21-008 and resampled historical drillholes SH07-01 to SH07-003 (see news releases dated January 04, 2022, January 11, 2022 and January 24, 2022) were preliminary. All were drilled into the Shasta Creek Zone approximately ± 150 m from the historical Creek Pit. Results from these drillholes have been finalized by SGS's internal Data Quality Analysis (DQA) and all subsequent overlimit circuits are complete. TDG's internal QAQC is still underway, waiting for all results from the 51 completed drillholes to be compiled and laboratory performance verified. Final results will be published on TDG's website at that time. TDG is currently awaiting final assay results from 44 of the 51 diamond drillholes drilled at Shasta in 2021, and laboratory progress has been slowed by an unusual volume of samples submitted and the ongoing COVID-19 global pandemic. TDG expects to publish more results over the coming weeks.
QA/QC
Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to an SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. The 2021 drill core was cut in half (1/2 HQ core) and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker Mine site, to Bandstra Transportation Systems in Prince George, B.C., and ultimately to the SGS laboratory in Burnaby, B.C. Samples were prepared and analyzed following procedures summarized in Table 2, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).
TABLE 2. Au and Ag Analytical Methods
Drillhole | Prep | Method Au | Method Ag | Method Au- | Method Ag- |
SH07-001 | PRP89 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
SH21-004 | PRP89 | GO_FAI50V5 | GE_IMS40Q12 | GO_FAG50V | GO_ICP42Q100 |
SH21-005 | PRP89 | GO_FAI50V10 | GE_IMS40Q12 | GO_FAG37V | GO_ICP42Q100 |
SH21-006* | PRP89 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
SH21-008 | PRP89 | GO_FAI50V5 | GE_IMS40Q12 | GO_FAG50V | GO_ICP42Q100 |
* Samples returning > 1000 g/t Ag in overlimit method GO_ICP42Q100, utilized a second overlimit method: GO_FAG37V.
Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested. For the purposes of this press release, results are ‘preliminary' and thus have not undergone TDG's comprehensive QAQC investigations.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results. Further data review is underway, in order to verify the validity of the data for the anticipated NI 43-101 compliant mineral resource estimate.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
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.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE: TDG Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/686884/TDG-Gold-Corp-Intercepts-7671-gt-Gold-and-1725-gt-Silver-75-metres-from-Surface-at-Shasta-Toodoggone-District-BC
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TDG Gold Corp. Samples Up To 32.9 g/t And 27.6 g/t Gold at Mets, Toodoggone, B.C.
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce the results of the 2021 exploration program at its former producing high-grade gold Mets Mining Lease located in the road accessible Toodoggone Production Corridor of north-central, B.C. Highlights include grab samples yielding 32.90 grams per tonne ("gt") gold ("Au") and 27.61 gt Au collected from locations of known historical drill collars (Table 1
TDG's Mets Mining Lease consists of 200 hectares located 23 kilometres ("km") by road from TDG's Baker Mine (Figure 1). A summary of historical exploration work completed at Mets was published by TDG in its news release dated May 19, 2021 (here). TDG has recompiled 7,944 metres ("m") of diamond drilling of the 8,784 m reported to have been drilled historically, along with review of the 2,622 m of historical trenching. Historical drill highlights include DDH MT86-08 which intersected 25.9 m of 9.52 g/t Au and MT86-05 intersecting 46.4 m of 3.57 g/t Au (including 11.8 m of 13.93 g/t Au).
Figure 1. Location of TDG's road accessible Mets Mining Lease 23 km northwest of TDG's Baker Mine.
In 2021, TDG completed a ground-based magnetometer survey consisting of 25 line-km that has highlighted several trends (Figure 2), in addition to geological grab sampling over historical collar locations (Figure 3).
Ground Magnetometer Survey Results
Using GEMS Overhauser 19W magnetometer units, a total of 25 line-km of ground-based magnetometer surveys were completed in 2021 on Mets. Magnetic data imagery highlighted several trends, interpreted by Company geologists to coincide with the historically trenched and drilled tested mineralization trend, defined by quartz ± quartz-barite veining, is part of a gold-silver bearing low sulphidation epithermal vein.
Historical trenching and drilling coincide with the A-Zone / Mets Structure. The structure is characterized as a magnetic low lineament in the 2021 magnetic survey. Figure 2 displays the respective historical drill intercepts with respect to the 2021 Total Magnetic Intensity ("MAG TMI").
Figure 2. Mets Historic Drilling And 2021 Magnetic TMI Imagery.
Grab Sampling Results
Select grab sampling was completed by Company geologists while completing general reconnaissance of the historically producing Mets property. Samples were selected based on the proximity to historical trenches and drillhole collars, targeting the quartz ± quartz-barite veins. Highlights include grab samples yielding 32.90 grams per tonne ("g/t") gold ("Au") and 27.61 g/t Au.
Table 1: 2021 Mets Rock Sample Results - Gold ("Au"), Silver ("Ag").
Sample ID | Easting | Northing | Au (g/t) | Ag (g/t) |
C00125601 | 600172 | 6367207 | 0.20 | |
C00125602 | 600110 | 6367269 | 1.85 | |
C00125603 | 600056 | 6367432 | 32.90 | 1.74 |
C00125604 | 599951 | 6367497 | 0.050 | 0.48 |
C00125605 | 599965 | 6367521 | 0.040 | 0.23 |
C00125606 | 599976 | 6367540 | 0.15 | |
C00125607 | 600033 | 6367549 | 0.14 | |
C00125608 | 600051 | 6367518 | 0.13 | |
C00125609 | 600058 | 6367494 | 0.62 | |
C00125610 | 600107 | 6367556 | 0.59 | |
C00125262 | 600053 | 6367326 | 4.25 | 0.42 |
C00125263 | 600064 | 6367362 | 27.61 | 7.25 |
Figure 3. Mets Historic Drilling and 2021 Rock Sampling Results.
Methodology
Select Grab Sampling: Data for geological field samples include: mineralogy, texture, alteration, and/or structure, and is located using a Garmin GPS64. Field notes are recorded in a field book and/or tablet computer. A rock hammer is used to separate the sample from its exposure and placed into a polyurethane bag with unique sample tag is place in the respective bag and secured using a zip-tie, and subsequently placed in security-sealed rice bags. The respective samples are then shipped as a batch to a third-party lab.
Magnetometer: The survey was conducted using GSM-19W Overhauser "Walking" magnetometers and a stationary GSM-19T Proton "Base Station" unit. "Walking" magnetometers recorded in situ magnetic field intensity while the "Base Station" recorded diurnal variations in the regional magnetic field during the survey. Positioning data was provided by handheld Garmin GPS64 units which were carried by each instrument operator in the field.
Following the completion of the survey, a set of corrections and Quality Assurance / Quality Control ("QA/QC") procedures were applied to the magnetic data, including diurnal correction, low-pass noise reduction, and individual operator leveling. After this QA/QC process was completed, the data was interpolated using industry-standard Golden Surfer 12 software. After interpolation, high-resolution Total Magnetic Intensity ("TMI") imagery was exported as a georeferenced TIFF image with matching contour shapefile.
QA/QC
Samples were submitted to SGS Canada's ("SGS") laboratory facility in Burnaby, B.C., following a chain of shipping custody from TDG to SGS, for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include internal quality control materials at set frequencies with established data acceptance criteria. As a result of SGS' rigorous internal QA/QC protocols, TDG did not submit external (blind) QA/QC materials, using a ‘fit for purpose' approach with the analytical data. Samples were analyzed following the procedures summarized in Table 2, where more information about methodology can be found on the SGS website, in the analytical guide (here).
Table 2: Au and Ag Analytical Methods.
SGS | Sample | Collected | Prep | Prep | Prep | Method | Method |
Certificate | ID | Weight (kg) | Dry | Crush | Pulverize | Au | Ag |
BBM21-11672 | C00125601 | 1.95 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125602 | 1.35 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125603 | 1.85 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125604 | 2.35 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125605 | 1.52 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125606 | 1.61 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125607 | 1.48 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125608 | 2.10 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125609 | 2.38 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125610 | 2.55 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125262 | 2.00 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125263 | 1.00 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
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.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE:TDG Gold Corp.
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TDG Gold Corp. Announces Anticipated Termination of the Nueva Esperanza Acquisition
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") advises that TDG has notified Kingsgate Consolidated Limited ("Kingsgate") that it anticipates that certain conditions precedent to the acquisition ("Acquisition") of the "Nueva Esperanza" silver-gold project pursuant to the terms of the definitive agreement (the "Agreement") between the Company and Kingsgate will not be fulfilled prior to the outside date for completion of the Acquisition on January 31, 2022, and therefore TDG anticipates that it will terminate the Agreement on such date
The results from TDG's 2021 exploration and drill programs on its project portfolio in the Toodoggone Production Corridor have exceeded the Company's expectations and the Company intends to now focus 100% of its efforts there.
With the substantial increase in geological knowledge gained from the 2021 exploration and drill programs, the Company is very confident of further expanding the known mineralization and discovering additional new deposits on the Toodoggone project. The results of the 2021 exploration and drill programs are still being received and analyzed, and the Company will be announcing such results during the first quarter of 2022.
The results of the 2021 programs will guide the 2022 exploration and drilling programs at the Toodoggone project, which will be funded by the proceeds from the sale of flow-through units as announced in the Company's press releases dated December 17, December 23 and December 30, 2021.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981 and 2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
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.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Forward looking statements in this press release include the Company's plans with respect to further exploration of its mineral properties. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE: TDG Gold Corp.
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TDG Gold Corp. Drills 38.0 metres of 3.04 g/t Gold and 101 g/t Silver at Shasta Creek North, Toodoggone, B.C.
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce drill results from drillholes SH21-007 and SH21-008 from its 2021 diamond drill program with both holes drilled approximately 150 metres ("m") north of the historical Shasta Creek Zone open pit. Drill intercepts include 38.0 m of 3.04 grams per tonne ("gt") gold ("Au") with 101 gt silver ("Ag") [4.30 gt AuEq*] in drillhole SH21-008. Assay results were received directly from SGS Canada Inc. ("SGS") from TDG's Shasta project which is located in the Toodoggone District of north-central B.C. Results have been received directly from SGS Canada Inc. ("SGS") and whilst SGS has completed its QAQC protocols for these results, a comprehensive internal Data Quality Analysis ("DQA") by TDG is still underway with subsequent assay results from the Shasta project still pending. Therefore, the results for the purposes of this news release are still considered preliminary
The northern section of TDG's Shasta project consists of the northerly portions of the Creek and JM Zones and also the Upper Creek Zone. Collectively, these zones at Shasta represent an opportunity to explore and evaluate the continuity and grade of the historical ore body in an area that was under-explored. The 2021 drilling in this area was designed to step west from the Shasta Fault, test underneath the historical mine workings and confirm the grade of mineralization reported from historical results as part of data validation in anticipation of the Mineral Resource Estimate work underway by Moose Mountain Technical Services. Results presented here are for SH21-007 and SH21-008 (Table 1).
Table 1. Significant Results from Holes SH21-007 & SH21-008.
Hole | From | To | Length | Au | Ag | AuEq* |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | |
SH21-07 | 67.6 | 106.0 | 38.4 | 0.71 | 32 | 1.11 |
SH21-08 | 66.0 | 104.0 | 38.0 | 3.04 | 101 | 4.30 |
including | 72.0 | 79.0 | 7.0 | 7.90 | 220 | 10.64 |
SH21-08 | 116.0 | 126.0 | 10.0 | 0.82 | 34 | 1.25 |
*Gold equivalent ("AuEq") calculated using 80:1 silver to gold ratio. | ||||||
** Intervals are core-length weighted. True width is estimated between 75 to 95 % of core length. |
Historically, drilling and mining was concentrated adjacent to the Shasta Fault, and the entirety of core was not sent for assay analysis. Holes drilled in 2021 within the northern section of the Shasta project consisted of infill drilling between historical holes and to test continuity of mineralization to the north (Figure 1). Select historical results are presented in Table 2 and a cross-section in Figure 2. Results are still pending for 2021 drillholes SH21-006, SH21-013, SH21-017, SH21-019, SH21-021 and SH21-023; and also for re-assays of the 2007 drillholes SH07-13, SH07-14 and SH07-15.
SH21-007 and SH21-008 both intersected the Shasta Fault at the predicted depth. As reported in TDG's news release of September 28, 2021 (see here), the footwall to the fault encountered a broad zone of silicified volcaniclastics with stockwork quartz veining, strong pervasive potassic alteration with a sulphide assemblage comprised of pyrite, chalcopyrite and acanthite, a package of host rocks, mineralization and alteration typical of the Shasta mineralization seen in historical holes.
Figure 1. Plan view of the northern Shasta Creek Zone (Holes SH21-007 & SH21-008).
Table 2. Significant Results from Historical Holes Adjacent to SH21-007 & SH21-008.
Hole | From | To | Length | Au | Ag | AuEq** |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | |
SH89-040 | 71.0 | 108.0 | 37.0 | 1.84 | 106 | 3.16 |
SH89-045 | 109.6 | 138.7 | 29.1 | 0.77 | 37 | 1.23 |
SH89-039 | 56.0 | 67.0 | 11.0 | 0.85 | 42 | 1.37 |
SH91-011* | 41.8 | 44.8 | 3.1 | 0.10 | 6 | 0.18 |
SH91-012* | 46.3 | 63.1 | 16.8 | 0.51 | 18 | 0.73 |
SH87-010 | 14.2 | 84.0 | 69.8 | 0.74 | 39 | 1.22 |
*The only assayed core. | ||||||
**Gold equivalent ("AuEq") calculated using 80:1 silver to gold ratio. | ||||||
** Intervals are core-length weighted. True width from historical core is unknown. |
Figure 2. Cross-section of 6,347,550 N (Holes SH21-007 & SH21-008).
All 2021 drill holes are HQ sized drill cores. Particulars for drill holes (location, depth, etc.)are presented in Table 3. The geology of the 2021 drill holes described in TDG's September 28, 2021 news release… (here). Assay results for remaining 2021 drillholes and 2007 re-assays are still pending at this time.
…Note, in TDG's September 28, 2021 news release, drillholes SH21-007 and SH21-008 were mis-plotted, which has been corrected in this news release. This error does not materially change the content of either news release.
Table 3. Drillhole particulars.
HOLE | UTME (NAD83) | UTMN (NAD83) | Azimuth(°) | Dip(°) | Final Depth (m) |
SH21-007 | 620,855 | 6,347,565 | 90 | -60 | 151 |
SH21-008 | 620,855 | 6,347,565 | 60 | -60 | 204 |
QA/QC
Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to an SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. 2021 Drill core was cut in half (1/2 HQ core) and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker Mine, to Bandstra Transportation Systems in Prince George, B.C., and ultimately to SGS laboratory Burnaby, B.C. 2007 drill core was split (mechanically). Core samples were prepared for analysis according to SGS method PRP89: dry samples to 105°C, crush to 75 % passing 2 mm, split 250 g, pulverize 85 % passing 75 microns.
Samples were analyzed following procedures summarized in Table 4, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).
Table 4. Au and Ag Analytical Methods.
Certificate | Hole | Method Au | Method Ag | Method Au-Overlimit | Method Ag-Overlimit |
BBM21-13116 | SH21-07 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_FAG37V |
BBM21-13135 | SH21-07 | GO_FAI50V10 | GE_IMS40Q12 | N/A | N/A |
BBM21-12566 | SH21-08 | GE_FAI50V5 | GE_IMS40Q12 | GO_FAG50V | GO_ICP42Q100 |
BBM21-12567 | SH21-08 | GE_FAI50V5 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
BBM21-12578 | SH21-08 | GE_FAI50V5 | GE_IMS40Q12 | N/A | N/A |
Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested. For the purposes of this press release, results are ‘preliminary' and thus have not undergone SGS internal QAQC or TDG's DQA investigations.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results. Further data review is underway, in order to verify the validity of the data for the anticipated NI 43-101 compliant mineral resource estimate.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. The Company has entered into a binding agreement to acquire the Nueva Esperanza silver-gold advanced exploration and development project located in the Maricunga Belt of northern Chile, subject to closing conditions being satisfied. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
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.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE:TDG Gold Corp.
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TDG Gold Corp. Drills 29.0 Metres of 1.78 G/T Gold and 89 G/T Silver at Shasta Creek Zone, Toodoggone, B.C.
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce the first composite drill results from its 2021 Shasta diamond drill campaign which include 29.0 metres ("m") of 1.78 grams per tonne ("gt") gold ("Au") with 89 gt silver ("Ag") [2.89 gt AuEq**] in drillhole SH21-005 and 33.5 m of 1.03 gt Au with 41 gt Ag [1.53 gt AuEq**] in drillhole SH21-004 - both within the Shasta Creek Zone south of the historical workings at TDG's Shasta project located in the Toodoggone District of north-central B.C. Included in this update are the over-limit assay results from drillholes SH21-004 and SH21-005 which were unavailable in TDG's November 29, 2021 news release (see here) along with results from drillholes SH21-001, SH21-003 and historical 2007 drillholes re-assayed in 2021 (SH07-001 and SH07-002). Results have been received directly from SGS Canada Inc. ("SGS") and whilst SGS has completed its QAQC protocols for these results, a comprehensive internal Data Quality Analysis ("DQA") by TDG is still underway with subsequent assay results from the Shasta project still pending. Therefore the results for the purposes of this news release are still considered preliminary
With the additional assay information from drillholes SH21-004, SH21-005 and the 2007 drillholes, cross section 6,347,280 N (see Figure 2) was constructed offering a more comprehensive understanding of the Shasta Fault system, the high-grade pods of mineralization in proximity to the fault, and the ‘halo' of Au-Ag mineralization adjacent the high-grade pods. This was previously under-tested by historical exploration and mining efforts. In addition, the updated over-limit assays from holes SH21-004 and SH21-005 provide true length-weighted composite grades through mineralized intersections, where Au-Ag grades were previously underrepresented by the upper limits of prior analysis.
Table 1 presents (below) precious metal concentrations with yellow highlighted values updated from the November 29, 2021, news release for drillholes SH21-004 and SH21-005.
Table 1. Updated select intervals of previously published preliminary assay results.
Hole | Depth From (m) | Depth To (m) | Width (m) | Au (g/t) | Ag (g/t) |
SH21-004 | 69 | 69.5 | 0.5 | 21.60 | 593 |
SH21-004 | 69.5 | 70 | 0.5 | 13.80 | 641 |
SH21-004 | 70 | 70.5 | 0.5 | 0.88 | 33 |
SH21-004 | 70.5 | 71 | 0.5 | 0.30 | 9 |
SH21-004 | 71 | 71.5 | 0.5 | 11.00 | 336 |
SH21-004 | 72 | 72.5 | 0.5 | 0.79 | 39 |
SH21-004 | 73 | 73.5 | 0.5 | 0.75 | 45 |
SH21-005 | 62 | 62.5 | 0.5 | 1.62 | 66 |
SH21-005 | 62.5 | 63 | 0.5 | 6.18 | 153 |
SH21-005 | 63 | 63.5 | 0.5 | 5.36 | 79 |
SH21-005 | 95 | 95.5 | 0.5 | 2.79 | 160 |
SH21-005 | 95.5 | 96 | 0.5 | 4.36 | 257 |
SH21-005 | 96 | 96.5 | 0.5 | 1.21 | 51 |
SH21-005 | 96.5 | 97 | 0.5 | 12.00 | 474 |
SH21-005 | 97 | 97.5 | 0.5 | 3.06 | 147 |
SH21-005 | 97.5 | 98 | 0.5 | 15.83 | 851 |
SH21-005 | 98 | 98.5 | 0.5 | 25.22 | 1,189 |
SH21-005 | 98.5 | 99 | 0.5 | 0.99 | 41 |
2021 drillholes are HQ and 2007 drillholes are NQ size drill cores and are located in the Shasta Creek Zone vicinity (Figure 1). Particulars for drillholes (location, depth, etc.)are presented in Table 2, and mineralization and geology is described in TDG's November 29, 2021 news release for the Shasta Creek Zone vicinity.
Figure 1. Plan view of Shasta Creek Zone (drillholes SH21-004, SH21-005, SH07-01, SH07-02).
Table 2. Drillhole particulars.
HOLE | UTME (NAD83) | UTMN (NAD83) | Azimuth(°) | Dip(°) | Final Depth (m) |
SH07-01 | 620,979 | 6,347,294 | 90 | -45 | 102 |
SH07-02 | 620,957 | 6,347,281 | 90 | -45 | 127 |
SH21-01 | 620,951 | 6,347,350 | 90 | -45 | 72 |
SH21-03 | 620,893 | 6,347,330 | 90 | -60 | 109 |
SH21-004 | 620,902 | 6,347,281 | 90 | -45 | 130 |
SH21-005 | 620,902 | 6,347,281 | 115 | -70 | 127 |
Table 3 presents the significant intervals for the mentioned drillholes, and Figure 2 presents a schematic cross section of drillholes SH21-004, SH21-005, SH07-01 and SH07-02 illustrating the relationship between the high-grade pods of mineralization and the halo of significant intervals adjacent to the high-grade mineralization.
Table 3. Significant Intervals.
Hole | From | To | Length | Au | Ag | AuEq** |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | |
SH07-01 | 58.2 | 102.7 | 44.5 | 0.86 | 41 | 1.37 |
including | 69.0 | 74.0 | 5.0 | 2.22 | 109 | 3.58 |
and | 80.0 | 86.0 | 6.0 | 3.14 | 131 | 4.77 |
SH07-02 | 71.0 | 103.7 | 32.7 | 0.48 | * | * |
SH21-01 | 19.0 | 29.0 | 10.0 | 0.32 | 32 | 0.72 |
including | 21.2 | 24.5 | 3.3 | 0.49 | 49 | 1.11 |
SH21-03 | 55.0 | 78.5 | 23.5 | 0.61 | 57 | 1.28 |
including | 61.0 | 62.5 | 1.5 | 2.13 | 302 | 5.91 |
and | 64.0 | 66.5 | 2.5 | 1.71 | 113 | 3.12 |
and | 71.0 | 72.5 | 1.5 | 1.32 | 137 | 3.03 |
SH21-03 | 90.5 | 103.5 | 13.0 | 0.82 | 61 | 1.59 |
including | 92.0 | 95.0 | 3.0 | 1.67 | 109 | 3.03 |
and | 96.5 | 98.0 | 1.5 | 1.81 | 189 | 4.17 |
SH21-04 | 63.5 | 65.0 | 1.5 | 1.33 | 6 | 1.40 |
SH21-04 | 69.0 | 102.5 | 33.5 | 1.03 | 41 | 1.53 |
including | 69.0 | 73.5 | 4.5 | 6.45 | 224 | 9.26 |
SH21-05 | 62.0 | 68.0 | 6.0 | 2.25 | 40 | 2.76 |
including | 62.0 | 63.5 | 1.5 | 4.39 | 99 | 5.63 |
SH21-05 | 92.0 | 121.0 | 29.0 | 1.78 | 89 | 2.89 |
including | 95.0 | 99.0 | 4.0 | 8.18 | 396 | 13.14 |
and | 101.5 | 105.5 | 4.0 | 1.88 | 88 | 2.98 |
* Silver results pending re-analysis. | ||||||
** Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio. | ||||||
*** Intervals are core-length weighted. True width is estimated between 75 to 95 % of core length. |
Figure 2. Cross section of Shasta Creek Zone (holes SH21-004, SH21-005, SH07-01, SH07-02). Results from SH21-030 are still pending.
QA/QC
Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to a SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. The 2021 drill core was cut in half (1/2 HQ core) and 2007 drill core was split (1/2 NQ core) and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker Mine site, to Bandstra Transportation Systems in Prince George, B.C., and ultimately to SGS laboratory Burnaby, B.C. Core samples were prepared for analysis according to SGS method PRP89: dry samples to 105°C, crush to 75 % passing 2 mm, split 250 g, pulverize 85 % passing 75 microns.
Samples were analyzed following procedures summarized in Table 4, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).
Table 4. Au and Ag Analytical Methods.
Certificate | Hole | Method Au | Method Ag | Method Au-Overlimit | Method Ag-Overlimit |
BBM21-13014 | SH07-01 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
BBM21-13343 | SH07-02 | GO_FAI50V10 | GE_IMS40Q12 | N/A | N/A |
BBM21-12204 | SH21-001 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
BBM21-12205 | SH21-003 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
BBM21-12561 | SH21-004 | GE_FAI50V5 | GE_IMS40Q12 | GO_FAG50V | GO_ICP42Q100 |
BBM21-12603 | SH21-004 | GE_FAI50V5 | GE_IMS40Q12 | N/A | N/A |
BBM21-12562 | SH21-005 | GO_FAI50V10 | GE_IMS40Q12 | GO_FAG37V | GO_ICP42Q100 |
BBM21-12759 | SH21-005 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested. For the purposes of this press release, results are ‘preliminary' and thus have not undergone SGS internal QAQC or TDG's DQA investigations.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. The Company has entered into a binding agreement to acquire the Nueva Esperanza silver-gold advanced exploration and development project located in the Maricunga Belt of northern Chile, subject to closing conditions being satisfied. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
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.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE:TDG Gold Corp.
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Lawrence Lepard: "Big Print" Coming — Fully Expect US$5,000 Gold, US$200,000 Bitcoin
Speaking to the Investing News Network, Lawrence Lepard, managing director at EMA, voiced his thoughts on the outlook for gold and Bitcoin as the debt doom loop intensifies in the US.
"I call it a doom loop — it's a vicious circle in the wrong direction, which I believe will ultimately lead to the government having to say, 'Okay, this isn't going to work. We are going to institute yield curve control or QE, or we're going to buy the bonds,'" he explained on the sidelines of the New Orleans Investment Conference.
Lepard believes it's important to hold both gold and Bitcoin, noting that the only wrong allocation is zero.
"I fully expect Bitcoin's going to go to US$200,000, and I fully expect gold's going to go to US$5,000 (per ounce) in the next couple of years," he said. "All the suffering gold stock holders out there ... we're going to be very pleasantly surprised."
Watch the interview above for more from Lepard on gold and Bitcoin, as well as silver. You can also click here to view the Investing News Network's New Orleans Investment Conference playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Chris Temple: Gold's Next Leg Higher, Plus Uranium and Natural Gas in 2025
Chris Temple, founder, editor and publisher of the National Investor, outlined the main factors he sees impacting the gold price heading into 2025, saying the yellow metal will undoubtedly move higher.
In his view, its rise will come as market participants realize how many problems the US economy is facing.
"I think that once that reality sets in, gold will get its next big lease on life and the stock market is going to bog down. I think we're going to see a lot of rotation in the market that will start to favor real assets and real value — away from everybody chasing the same relative handful of stocks as we've seen," Temple explained.
Aside from gold, Temple spoke about natural gas and uranium, his other two favorite commodities in the near term.
He also discussed the potential implications of Donald Trump's second presidency, saying it will be key to watch how he develops the US' relationship with China, especially as the Asian nation grapples with internal problems.
"This is the most important thing that consumers and investors and policy makers need to watch in 2025 — is Trump smart on how he deals with all of this and rebuilds our own industries to compensate for years down the road? Or is he going to be ham-fisted about it and cause more problems than he solves?" Temple questioned.
Watch the video above for more from Temple on what's to come in 2025.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
WGC: Gold to Face Complex Drivers in 2025, Price Likely to Cool After Record-Breaking Year
The World Gold Council (WGC) has released its 2025 gold outlook, highlighting various macroeconomic factors, geopolitical risks and central bank activity as pivotal forces influencing demand and prices.
While 2024 saw gold achieve a stellar performance with a 28 percent annual increase, the outlook for 2025 is characterized by a mix of opportunities and challenges stemming from both global and regional developments.
The yellow metal has benefited from its historical role as a hedge against uncertainty, but the WGC forecasts that its performance next year will depend on other key variables as well.
Gold to face complex drivers next year
Looking back at 2024, the WGC outlines multiple factors that drove gold's strong performance.
For instance, central bank demand reached significant levels, underscoring the metal's enduring role as a safe-haven asset. Central banks have now been net buyers of gold for nearly 15 years.
Meanwhile, investor interest surged amid geopolitical instability and market volatility, particularly in the third quarter, when western investors returned to the market, driven by lower yields and a weakening US dollar.
Asian demand, a critical component of the gold market, played a supportive role in the first half of the year.
Indian demand was buoyed by favorable policy changes, including a reduction in import duties, while Chinese investors turned to gold amid concerns about economic growth.
Heading into 2025, the complex global economic picture is creating uncertainty for gold.
In the US, Donald Trump is expected to introduce policies that stimulate domestic economic growth during his second term as president, potentially driving risk-on sentiment in the short term. However, these policies could also create inflationary pressures and disrupt supply chains, leading investors to seek the stability of assets like gold.
Central banks, including the US Federal Reserve, are anticipated to continue cutting interest rates. Market consensus suggests the Fed will cut by 100 basis points in 2025, with similar actions expected in Europe.
The WGC forecasts in its report that a dovish monetary policy environment could be supportive for the gold price, particularly if inflation remains above target levels. On the other hand, any reversal in monetary policy or a prolonged pause in rate cuts could present challenges for gold, as higher opportunity costs may deter investors.
Similarly, subdued economic growth could limit consumer demand, particularly in Asia, where gold plays a dual role as an investment and a cultural staple.
Asia and central banks to lead gold buying
In 2025, the WGC predicts that Asia will remain a cornerstone of the global gold market. The continent accounts for over 60 percent of annual demand, excluding central bank activity.
Chinese consumer demand, which has been relatively muted, is likely to hinge on the country’s economic policies and growth trajectory. Trade tensions and domestic stimulus measures could sway demand either way, while gold may face increased competition from alternative investment avenues such as equities and real estate.
For its part, India is better positioned to sustain gold demand. With economic growth projected to remain above 6.5 percent and a smaller trade deficit compared to other US trading partners, the WGC believes Indian consumers are likely to continue purchasing gold both for investment and cultural purposes.
Central bank activity will remain a critical driver for gold in 2025. While demand may not reach the heights of recent years, it is expected to surpass long-term averages, providing a consistent source of support for the market.
Central bank purchases are influenced by geopolitical risk, sovereign debt levels and portfolio diversification. These drivers are unlikely to wane, ensuring that central banks will continue to play a stabilizing role in the gold market.
However, any significant deceleration in central bank demand could exert downward pressure on the gold price, particularly if combined with other bearish factors such as higher interest rates or reduced investment flows.
Overall, the WGC predicts that in 2025 the gold market is likely to be shaped by the interplay of four primary drivers: economic expansion, risk, opportunity cost and momentum.
Economic growth, though expected to remain positive, will likely be below trend, limiting the scope for consumer demand growth. Geopolitical risks, including ongoing tensions in regions like South Korea and Syria, may prompt investors to increase their allocations to gold as a hedge against uncertainty.
The opportunity cost of holding gold, determined by interest rates and yields, will be a critical factor. Lower rates should support gold, but any unexpected tightening of monetary policy could dampen investment demand.
Finally, market momentum, influenced by technical factors and investor sentiment, will play a role in determining gold’s short-term performance. A strong start to the year, fueled by initial risk-on sentiment, could pave the way for a more stable or even bullish trajectory, provided macroeconomic conditions remain favorable.
How will the gold price perform in 2025?
Market consensus suggests gold will remain rangebound in 2025, potentially seeing modest gains.
However, the WGC reminds investors that the market is not without risks. A rapid deterioration in financial conditions, unexpected geopolitical developments or a sharp rise in central bank demand could provide upside surprises.
Conversely, a reversal in monetary policy or subdued demand from key markets could cap gold’s performance.
Either way, both investors and analysts will closely monitor developments related to the key regions and variables mentioned to gauge the direction of the gold market this coming year.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Increased M&A Activity a Win-Win for Gold Sector, Brightstar Resources Exec Says
Following the completion of its acquisition of Alto Metals, Brightstar Resources (ASX:BTR) plans to conduct 50,000 metres of reverse-circulation and diamond drilling, beginning next year, at Alto Metals' approximately 900 square kilometre Sandstone gold project in Western Australia.
In an interview with the Investing News Network, Brightstar Managing Director Alex Rovira outlined the next steps for merging Alto Metals with Brightstar’s assets and the strategy for moving forward.
“From an exploration perspective … it's really focusing on the Sandstone package. We will do near-mine brownfields exploration at our Menzies and Laverton gold projects. And really, the aspiration there is to take a number of those mines toward development decisions,” he said.
Brightstar’s Alto Metals acquisition is one of an increasing number of mergers and acquisitions within the gold space in recent years, fueled by a strengthening gold price and a desire to boost gold production.
In 2024 alone, Brightstar has acquired three companies — Linden Gold, Gateway Mining and Alto Metals — boosting the company’s gold resources and bringing it closer to production.
Rovira added that Brightstar’s global resources have grown from 400,000 ounces to 3 million ounces to date through a combination of M&A and resource exploration.
“For us in our business, it made a lot of sense to conduct some of this M&A, because it was almost cheaper at times to be acquiring ounces than it was to raise the money and explore for them. So we managed to consolidate a number of mispriced or undervalued opportunities in Western Australia,” he said.
Rovira offered his insight on the trend of increasing M&A in the gold sector, calling Northern Star Resources' (ASX:NST,OTC Pink:NESRF) planned US$5 billion acquisition of De Grey Mining (ASX:DEG,OTC Pink:DGMLF) a “win-win.”
“What that does is it frees up capital in the sector so investors can monetise those positions and they can look to reinvest that in other gold-mining companies. So it is good for liquidity, it's good for investors (and) ultimately for the companies as well. It provides access to capital whether there's operational synergies, different teams coming in and looking at different projects,” Rovira said.
Watch the full interview with Alex Rovira, managing director of Brightstar Resources, above.
Disclaimer: This interview is sponsored by Brightstar Resources (ASX:BTR). This interview provides information which was sourced by the Investing News Network (INN) and approved by Brightstar Resources in order to help investors learn more about the company. Brightstar Resources is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Brightstar Resources and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Horizon Minerals
Investor Insight
Horizon Minerals’ near-term cash-flow potential and its significant land package in the prolific Western Australian goldfields with considerable exploration upside position the company to positively leverage the current bull gold market opportunity.
Overview
Horizon Minerals (ASX:HRZ) is an ASX-listed emerging mid-tier gold mining company focusing on a portfolio of highly promising gold projects located in the world-class Western Australian goldfields. The recent merger with Greenstone has added nearly 0.5 million ounces (Moz) of high-grade resource to Horizon, taking its total tally to 1.8 Moz, and resulted in Horizon Minerals total land package of 939 sq km in the Kalgoorlie-Coolgardie district.
The Greenstone merger brings near-term cash-generating opportunities and adds greater scale to its baseload assets (Boorara) with the high-grade Burbanks deposit. Horizon’s dual-track strategy involves generating immediate cash flows by leveraging a pipeline of development-ready production assets and concurrently advancing the cornerstone assets, Boorara and Burbanks, which have a combined resource inventory of 914 koz at 1.7 grams per ton (g/t) gold with potential to support a profitable, long-life operation.
The recent ore sale agreement with Paddington Gold is encouraging and increases confidence in the management’s ability to generate near-term cash flows. Under the agreement, 1.4 million (Mt) will be processed over a period of 22 months. The agreement allows Horizon to capitalize on high gold prices to generate significant cash flows.
Horizon is also progressing with other projects, including the Cannon gold project and Penny’s Find underground mine, and actively exploring for new discoveries in the Western Australian Goldfields, targeting gold and other commodities such as nickel-cobalt, silver-zinc, PGEs and lithium across its extensive land holdings. Additionally, Horizon holds a significant stake in one of the world’s largest vanadium projects via its investment in Richmond Vanadium Technology, which is listed on the ASX.
Horizon proposes to acquire 100 percent of Poseidon via an all-scrip transaction for AU$30 million to consolidate 1.8Moz gold and highly strategic processing infrastructure for Horizon to transition to the next standalone WA gold producer. The acquisition will combine Horizon’s large gold resource and Poseidon’s Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts. The transaction will further result in substantial resource base and regional tenure to a combined JORC mineral resources of ~1.8Moz gold at an average grade of 1.84g/t gold and 422,700t nickel at an average grade of 1 percent nickel. Horizon and Poseidon will have a total of 1,309 sq. km. tenure in an attractive geological position in the WA Goldfields.
Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion and recommissioning of the Black Swan processing plant. The 2.2Mtpa processing facility is strategically located 40 km north of Kalgoorlie with a concentrator readily amenable to processing gold through cost-effective refurbishment and the addition of a new CIL circuit.
Horizon's 30Mt existing gold resources, with 50,000 metres of drilling fully funded to commence drilling in 2025 or 2026, strongly support the conversion of the Black Swan processing plant to a gold plant.
Company Highlights
- Horizon Minerals is an emerging mid-tier gold producer with an extensive portfolio of highly promising gold projects located in the world-class Western Australian goldfields.
- The recently completed merger with Greenstone Resources positions Horizon as a mid-tier gold producer in the Western Australian Goldfields. The combined entity enhanced Horizon’s portfolio with two complementary cornerstone gold assets — Burbanks and Boorara (combined resource of 914,000 oz).
- Mineral resource updates after the merger include 1.8Moz gold, 20.2Moz silver, 104kt zinc, 283kt nickel, 40.5kt cobalt and 296.2kt manganese.
- Changes to the gold MREs include:
- Addition of 297,650oz from Burbanks open pit
- Addition of 167,920oz from Burbanks underground
- Addition of 13,000oz from Pinner
- Addition of 3,000oz from Monument
- Reduction of 20,240oz from Boorara
- Horizon has announced a proposed merger with Poseidon Nickel Limited with Horizon having in ground gold assets that can be processed, and Poseidon having processing facilities including the Black Swan plant, which Horizon proposed to refurbish and repurpose from a concentrator into a gold CIL plant.
- Open pit mining has commenced at the Boorara gold project in August 2024 and the first ore was exposed and mined in late September 2024, with first ore being delivered to the Paddington mill for processing.
- Horizon also recently commenced mining at its recently acquired Phillips Find project with ore to be processed at the Greenfields mill near Coolgardie from February to June 2025.
- Horizon is also progressing with other projects, including the Cannon and Penny’s Find underground mines.
- Amidst the current record gold prices, Horizon seeks to capitalize on this opportunity by advancing its substantial resource endowment towards development, thereby generating cash flow.
Key Projects
Boorara Gold Project
The Boorara gold project is located 15 km east of Kalgoorlie-Boulder in the Western Australian goldfields. Over the past decade, a substantial amount of reverse circulation and diamond drilling has been carried out at Boorara. The project includes a JORC 2012 mineral resource estimate (MRE) by Optiro (now Snowden Optiro), which reported a total of 10.53 Mt grading at 1.26 g/t gold, amounting to 448,000 ounces.
The company views Boorara as a substantial baseload feed source that could be enhanced by lower tonnage, higher-grade feed to sustain a standalone milling facility. This is where the recent acquisition of Greenstone becomes important. Boorara can be supplemented by higher-grade feed from Greenstone’s Burbanks deposit to support an integrated operation.
The Independent JORC (2012) Ore Reserve for Boorara, completed by AMC Consultants, shows a financially viable project highlighted by an open pit mine design producing 1.24 Mt at a fully diluted grade of 1.24 g/t gold for 49.5 koz over an approximate 14-month mine life, and ore sale agreement at 92.5 percent metallurgical recovery produces 45.8 koz recovered.
Boorara commenced open pit mining in August 2024, with the first ore exposed and mined in late September 2024. Mining at the site will occur over 14 months and processing over 19 months at Norton Gold Fields’ Paddington plant to generate $30 million in estimated free cashflow at a AU$3,600/oz gold price.
Phillips Find Gold Project
The Phillips Find gold project is located 45 km north-west of Coolgaride, Western Australia in the heart of the Western Australian goldfields covering 10 kilometres of strike over prospective greenstone stratigraphy. The project includes the Phillips Find Mining Centre (PFMC) where approximately 33,000 ounces of gold were produced between 1998. A joint venture (JV) agreement is in place with mining specialists BML Ventures Pty Limited (BML) to develop and mine two open pits at Phillips Find. Horizon Minerals plans to commence the grade control program early in December and the first mining of ore in December 2024. The first ore from Phillips Find is on track to be treated at FMR’s Greenfields mill from February 2025 to June 2025
Nimbus Silver-Zinc Project
The 100 percent owned Nimbus silver-zinc-lead-gold deposit is located 15 kilometres east of Kalgoorlie-Boulder in Western Australia within the Kalgoorlie Terrane. The project's current mineral resource estimate (JORC 2012) includes 12.1 million tons at 52 g/t silver, 0.2 g/t gold and 0.9 percent zinc containing 20.2 million oz of silver, 78,000 oz of gold and 104,000 tons of zinc using lower cut-off grades of 12 ppm for silver, 0.5 percent for zinc and 0.3 g/t for gold over a 2 metre down hole composite. Within this global resource, the Nimbus project has a high-grade silver and zinc resource of 255,898 tons at 773 g/t silver and 13 percent zinc.
A concept study has confirmed the optimal economic development pathway by mining the higher-grade lodes and generation of a silver/zinc concentrate. A programme of work (POW) has been approved and drilling to test the exploration target is expected to be undertaken in the first half of 2025. The Nimbus project is 2 km east of Horizon's cornerstone Boorara project and 6.5 km north-northwest of Golden Ridge, both historic gold mining centres.
Burbanks Gold Project
The Burbanks gold project is situated 9 km southeast of Coolgardie, Western Australia. The project encompasses the Burbanks Mining Centre and more than 5 kilometers of the highly promising Burbanks Shear Zone, historically the most significant gold-producing structure within the Coolgardie Goldfield. Previous underground production at Burbanks has surpassed 420,000 oz to date.
Burbanks currently hosts a total resource of 6.1 Mt @ 2.4 g/t gold for 466 koz, including underground of 1.2 Mt @ 4.4 g/t gold for 168 koz. Burbanks is underexplored and remains open in all directions for future growth.
Cannon Underground Project
The Cannon gold project is located 30 km east-southeast of Kalgoorlie-Boulder. It is a fully permitted project with a pre-feasibility study completed in 2022, which shows strong project economics with a free cash flow of AU$10.1 million over the mine's life. The company has finished commissioning a dewatering pipeline and a pumping system, representing a major milestone in the advancement of its Cannon Underground project. Discussions with mining contractors and potential JV mining partners are underway. First ore production from the Cannon Project is expected to commence in Q4 2024.
Penny’s Find
Penny’s Find is about 50 km northeast of Kalgoorlie in the Eastern Goldfields of Western Australia, near the company’s wholly-owned Kalpini gold project. It comprises a granted mining lease and other associated leases covering 91 hectares. The mineral resource estimate updated in December 2023 boasts 63,000 ounces of gold in the indicated and inferred category. A pre-feasibility study for exploitation using underground mining methods is currently underway. This study will include mine design and financial analysis.
Rose Hill
Rose Hill is 0.5 km southeast of Coolgardie and 35 km west of Kalgoorlie-Boulder, on the western edge of the Archean Norseman-Menzies Greenstone Belt. The current JORC 2012 resource at Rose Hill contains 93,300 oz , comprising an open-pit mineral resource of 0.3 Mt grading 2.0 g/t gold for 18,400 oz, and an underground mineral resource of 0.5 Mt grading 4.6 g/t gold for 74,900 oz. Nearly 70 percent of the resource is in the measured and indicated JORC categories.
Kalgoorlie Regional
Horizon owns several promising tenements within the Kalgoorlie region. These project areas include the greater Boorara-Cannon project area, Lakewood, Binduli-Teal project area, Kalpini, Balagundi-Kanowna South and Black Flag.
Coolgardie Regional
Horizon manages several promising tenements within the Coolgardie region, including Rose Hill, Brilliant North and Yarmany.
Management Team
Ashok Parekh – Non-executive Chairman
Ashok Parekh has over 33 years of experience advising mining companies and service providers in the mining industry. He has spent many years negotiating mining deals with publicly listed companies and prospectors, leading to new IPOs and the initiation of new gold mining operations. Additionally, he has been involved in managing gold mining and milling companies in the Kalgoorlie region, where he has served as managing director for some of these firms. Parekh is well-known in the West Australian mining industry and has a highly successful background in owning numerous businesses in the Goldfields. He was the executive chairman of ASX-listed A1 Consolidated Gold (ASX:AYC) from 2011 to 2014. He is a chartered accountant.
Warren Hallam - Non-executive Director
Warren Hallam is currently a non-executive director of St Barbara Limited and Poseidon Nickel Limited, and non-executive chairman of Kingfisher Mining Limited. Hallam has a built a strong track record over 35 years in operations, corporate and senior leadership roles across multiple commodities. This includes previous Managing Director roles at Metals X Limited, Millenium Metals Limited and Capricorn Metals Limited. Hallam is a metallurgist with a Master in Mineral Economics from Curtin University.
Grant Haywood – Managing Director and Chief Executive Officer
Grant Haywood brings over three decades of experience in both underground and open-cut mining operations. During his career, he has served in senior leadership capacities in various mining companies, guiding them from feasibility through to development and operations. His experience spans various roles within junior and multinational gold mining companies, predominantly in the Western Australian goldfields, including positions at Phoenix Gold, Saracen Mineral Holdings, and Gold Fields. He is a graduate of the Western Australian School of Mines (WASM) and has also earned a Masters in Mineral Economics from the same institution.
Julian Tambyrajah – Chief Financial Officer & Company Secretary
Julian Tambyrajah is an accomplished global mining finance executive with more than 25 years of industry expertise. He is a certified public accountant and chartered company secretary. He has served as CFO of several listed companies including Central Petroleum (CTP), Crescent Gold (CRE), Rusina Mining NL, DRDGold, and Dome Resources NL. He has extensive experience in capital raising, some of which includes raising US$49 million for BMC UK, AU$122 million for Crescent Gold and AU$105 million for Central Petroleum.
Stephen Guy – Chief Geologist
Stephen Guy is a geologist with over 25 years of experience in the mining industry, specialising in exploration, production, and project start-ups for both open pit and underground operations. His career spans key regions in Australia, including Western Australia, New South Wales, and Queensland, where he has collaborated with leading companies such as BHP, Newcrest, St Barbara Gold, Fortescue Metals Group (FMG), and Gindalbie Metals. Guy’s expertise covers a diverse range of commodities, including gold, copper, nickel, base metals, and iron ore.
Brendan Shalders - Chief Executive Officer (Poseidon)
Brendan Shalders is an experienced mining executive and has worked within or consulted with the mining and mining services industries for over 20 years. He is a chartered accountant and prior to joining Poseidon, he was managing director at FTI Consulting, a restructuring and corporate advisory services firm for nearly 3 years, where he assisted mining clients. Having held senior finance roles in both advisory and corporate settings, he has extensive experience in corporate finance, accounting, risk management, leadership and business development.Agnico Eagle and O3 Mining Welcome Gold Fields' Support of Their Friendly Premium Transaction
(All amounts expressed in Canadian dollars unless otherwise noted)
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (" Agnico Eagle ") and O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (" O3 Mining ") are pleased to jointly announce that Gold Fields Limited, through a 100% indirect Canadian subsidiary (" Gold Fields "), O3 Mining's largest shareholder, has agreed to a lock-up agreement with Agnico Eagle to tender its common shares of O3 Mining (" Common Shares ") into Agnico Eagle's offer to acquire all of the outstanding Common Shares for $1.67 per Common Share in cash by way of a take-over bid (the " Offer "). See O3 Mining and Agnico Eagle's joint news release of December 12, 2024 for a detailed description of the Offer. A copy of the December 12, 2024 joint news release is available at: https:www.agnicoeagle.comEnglishinvestor-relationsnews-and-eventsnews-releasesnews-release-details2024Agnico-Eagle-to-Acquire-O3-Mining-in-Friendly-Transactiondefault.aspx .
Gold Fields owns approximately 17% of the outstanding Common Shares on a basic basis. Including its lock-up agreement with Gold Fields, Agnico Eagle has now entered into lock-up agreements with O3 Mining shareholders owning an aggregate of approximately 39% of the outstanding Common Shares on a basic basis, including each of the directors and officers of O3 Mining.
The offer price of $1.67 per Common Share represents a premium of 57% to the volume weighted average price of the Common Shares on the TSX Venture Exchange for the 20-day period ended December 11, 2024 (the last trading day prior to announcement of the Offer). The Offer has been unanimously recommended by the O3 Mining Board of Directors and Special Committee of independent directors.
How to Tender Your Shares; Postal Strike
Only O3 Mining shareholders who tender their Common Shares will receive the cash consideration of $1.67 per Common Share. For information on tendering your Common Shares please contact Laurel Hill Advisory Group at assistance@laurelhill.com .
Shareholder type: | How do I tender my Common Shares to the Agnico Eagle Offer? |
Beneficial Most O3 Mining shareholders are beneficial shareholders. This means your Common Shares are held through a broker, bank or other financial intermediary, and you do not have a share certificate or DRS advice. | Contact your bank or your broker immediately and instruct them to tender your Common Shares to the Offer. |
Registered You are a registered shareholder if you hold your Common Shares directly and may have a share certificate or DRS advice. | Contact Laurel Hill Advisory Group: |
In light of the Canada Post labour strike , shareholders are encouraged to stay up to date on the Offer by visiting: https://www.agnicoeagle.com/Offer-for-O3-Mining/default.aspx . Shareholders are also asked not to mail in any Letter of Transmittal or share certificates. Instead, shareholders may contact Laurel Hill Advisory Group.
About O3 Mining Inc.
O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada , adjacent to Agnico Eagle's Canadian Malartic mine. O3 Mining owns a 100% interest in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance project in Québec, which O3 Mining has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders.
About Agnico Eagle Mines Limited
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada , Australia , Finland and Mexico . It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States . Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the Offer, including the anticipated timing of commencement and expiration, mechanics, funding, completion, settlement, results and effects of the Offer, the expected outcomes of completion of the transaction and the other benefits of the transaction. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that the Offer will be made in accordance with the definitive support agreement in respect of the Offer and will be successful, that all required regulatory consents and approvals will be obtained and all other conditions to completion of the transaction will be satisfied or waived. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Agnico Eagle or any of its affiliates or O3 Mining.
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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SOURCE O3 Mining Inc.
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