Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the acquisition of the Eagle Lake property in south-central BC (British Columbia). The property was acquired through a combination of staking and a sale agreement with Teck Resources Limited (“Teck”) on their Takomkane property.
Highlights of the new Eagle Lake property
- Situated directly adjacent to Consolidated Woodjam Copper Corp.’s Woodjam Cu-Au (copper-gold) porphyry project which hosts an inferred resource of 1.7B lbs copper and 968,100 oz gold with an aggressive 2022 exploration program planned.
- Results of limited historic exploration at the Eagle Lake property include a drill intercept of 3.52 g/t Au over 9.9 metres which remains to be followed up.
- Covers 18,990 hectares of prospective ground with potential for porphyry copper-gold and mesothermal gold discoveries.
- 100%-owned by Trailbreaker Resources, with a portion of the claim package subject to a 1% Net Smelter Royalty (NSR) held by Teck.
- Located 55 km east of Williams Lake, BC in the Caribou Mining district.
- Excellent road accessibility via an extensive network of well-maintained forest service roads.
- Situated within the Quesnel terrane which is host to several of BC’s large tonnage Cu-Au porphyry deposits.
Daithi Mac Gearailt, CEO of Trailbreaker, commented, “This is a landmark acquisition for Trailbreaker Resources and we are very thankful to Teck who clearly understood our vision to consolidate this land package and increase our chances of making a new discovery in this underexplored area of BC.”
About the Eagle Lake property
The 18,990-ha Eagle Lake property is an early-stage porphyry copper-gold and mesothermal gold prospect located in the Cariboo Mining district, approximately 55 km east of Williams Lake in south-central BC.
(see Overview Map). The property is road accessible by an extensive network of well-maintained forest service roads. The Eagle Lake property is 100%-owned by Trailbreaker, with a portion of it subject to an underlying 1% NSR to Teck.
The newly consolidated Trailbreaker claims are situated within the Quesnel terrane which is host to several of BC’s large tonnage copper-gold porphyry deposits. These include New Gold’s Afton mine, Imperial Metals’ Mount Polley mine, Taseko’s Gibraltor mine, and Centerra Gold’s Mount Milligan and Kemess mines. The Quesnel terrane also hosts numerous advanced-stage gold projects, such as the Spanish Mountain Gold project (measured and indicated resource of >4.5 M oz Au) located 45 km north of Eagle Lake, and Karus Gold’s FG gold project, located 35 km to the east.
The property is underlain by Late Triassic to Early Jurassic intrusive rocks of the Takomkane Batholith, with minor late Triassic volcanic rocks of the Nicola Group (see Regional Geology Map). The Eagle Lake property is contiguous to the advanced-stage Woodjam Cu-Au project and shares a similar geological setting. The Woodjam project covers a Cu-Au porphyry deposit with an inferred resource of 1.7 billion lbs copper and 968,100 oz gold.
Trailbreaker’s team believes the gold potential of the property has been overlooked in the past, as copper porphyry-style mineralization was the focus of all previous exploration conducted on the property. For example, in 2010, a small diamond drill program targeting Cu-Au porphyry mineralization (the “Moffat zone”) at the south end of the Eagle Lake property encountered significant gold-only mineralization. At the Moffat zone, drilling returned an intercept of 3.52 g/t Au over 9.9 m, (commencing at 253 m) within quartz stockworks and breccias (see Moffat Zone Map). No follow-up work was ever done. A regional-scale till sampling program executed in 2019 demonstrated that anomalous gold-in-till values were returned from the southern portion of the Eagle Lake property hosting this drill hole.
2022 exploration at Eagle Lake
Trailbreaker is planning to focus exploration efforts at the Moffat zone with a detailed mobile metal ion (MMI) soil geochemical survey. MMI geochemistry is a proven surficial exploration technique that has a track record of discovering deeply buried mineral deposits worldwide. Unlike conventional soil geochemical surveys, MMI analysis measures metal ions that travel upward from the bedrock and accumulate in the surface soil, allowing this method to detect deeply buried mineralization and to provide more focused anomalies. The planned MMI survey will be tightly spaced, and is designed to provide focused drill targets for potential future drill campaigns.
Terms of the agreement with Teck
The sale of the claims held by Teck is subject to the following terms:
- Trailbreaker shall issue 125,000 common shares within 7 business days of receipt of TSX Venture Exchange approval. Concurrent with the share issuance, Teck will transfer the title of the Property to Trailbreaker
- Teck shall retain a 1% NSR on the Property.
For more details and maps on the Eagle Lake property, see the dedicated section on Trailbreaker’s website.
Message from the President
“I am very excited about the addition of the Eagle Lake property to our growing portfolio of projects. We are all looking forward to a busy exploration season that has now been substantially enhanced with the addition of our new southern BC projects. The Eagle Lake property could be a real game changer for Trailbreaker.
There is a lot of ground here to explore, with great access and infrastructure, and with a neighbour like the Woodjam copper-gold project, it’s easy to envision the potential of this area.
As always, stay tuned for further updates!”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
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 release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Avrupa Minerals CEO Paul Kuhn: Drills Turning Soon in 3 Countries
Avrupa Minerals CEO Paul Kuhn: Drills Turning Soon in 3 Countriesyoutu.be
Avrupa Minerals (TSXV:AVU) is in between drilling programs for its projects in Finland and Portugal. CEO Paul Kuhn said the company is going to start drilling as soon as it secures licenses.
“We're producing new drill targets in Finland and in Portugal, and I'm hoping that we can get going on a resource upgrade in Kosovo as soon as we got a partner there,” Kuhn said.
Avrupa Minerals' recent sampling and geochemical results confirm the presence of distal, disseminated volcanogenic massive sulfide (VMS)-style zinc mineralization at the Kolima VMS target in Finland. These suggest well-defined target areas for first-pass drilling when an exploration license is issued.
“Our project in Portugal is called the Alvalade copper-zinc VMS joint venture," Kuhn said. "We have about 500 meters of strike length drilled so far, and there's another 1,500 to go. We have seven or eight other targets; two of them are formerly operating mines. We will get back to our drilling, hopefully, in a couple of months. It's a great joint venture; it's a project that is moving ahead.”
Avrupa reported that recent drilling at Sesmarias North at the Alvalade project in Portugal showed semi-massive to massive sulfide mineralization, including 22.9 meters, from 378.5 meters at 0.48 percent copper, 0.72 grams per metric ton (g/t) gold, 37.7 g/t silver, 1.1 percent lead and 2.17 percent zinc.
“We're also in Kosovo," he said. "We have a partner there, and we made a deal with them to regain the mining license. After a year and a half, the license was reissued and we've got a new exploration permit for seven years.”
The company received its new exploration license in Kosovo covering the Slivova gold prospect and potential extensions covered in a larger license area. According to Khun, the gold resources on the prospect are 640,000 metric tons of 4.8 grams gold at the surface, or about 100,000 ounces of gold and 300,000 ounces of silver.
“For investors, now's a great time. We're in the process of building new targets in three countries. We're going to get back to drilling in Q3 of 2022 and in Q1 of 2023 in Finland. We're doing great work on the geology and we've got targets. We're going to be drilling as soon as we can.”
Watch the full interview of Avrupa Minerals CEO Paul Khun above.
Disclaimer: This interview is sponsored by Avrupa Minerals (TSXV:AVU). This interview provides information that was sourced by the Investing News Network (INN) and approved by Avrupa Minerals in order to help investors learn more about the company. Avrupa Minerals 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 Avrupa Minerals 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.
Lundin Mining Announces Updated Share Capital and Voting Rights
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KIPLIN METALS Permitting Exploration Program on Cluff Lake Athabasca, Saskatchewan, Canada
(TheNewswire)

June 29 th 2022 TheNewswire - Kiplin Metals Inc. (TSXV:KIP) (the " Company " or " Kiplin ") announces that the Company has applied for the requisite exploration permits for its Summer geophysical program at the Cluff Lake Road (CLR) Uranium Project in northwestern Saskatchewan. Approval for the proposed IP (Induced Polarization) program is expected in the near term. Data from the survey will be integrated with legacy datasets to develop targets for diamond drilling.
The survey is to consist of up to 40-line kilometers, in a roughly east west direction, and will be integrated with data from previous surveys. The purpose of the survey is to define drill targets which are prioritized by radon gas soil anomalies, identified within interpreted faults. The Company is applying for the requisite permits and expects to be drilling within the next 60 days.
The Company has engaged Grander Exploration to manage the program. The Company will provide updates on the timing of its work program as they become available.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
About Kiplin Metals Inc.
Kiplin Metals Inc. is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery all the way to production. This vertically integrated strategy allows Kiplin Metals to achieve exceptional shareholder value through the entire life-cycle of the mining process.
Cluff Lake Road Uranium Project. Kiplin Metals has the right to earn a one-hundred percent interest in the Cluff Lake Road Uranium Project (the "CLR Project"). The CLR Project covers ~531ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries, including the Arrow and Tripe R Uranium deposits have been made. The CLR Project is 5km east of the Cluff Lake Road (Hwy 955), which leads to the historic Cluff Lake Mine, which historically produced approximately 62,000,000lbs of yellowcake uranium.
Exxeter Gold Project covers an area of 715ha located in Val d'Or Quebec, one of the premier gold camps in the world which produced over 113.4M oz Au by the end of 2019. The project covers 3.8km of the Cadillac Tectonic zone, which is the principal geologic structure responsible for cold mineralization in the Val d'Or.
For further information, contact the Company at info@kiplinmetals.com , or visit the Company's website at www.kiplinmetals.com .
On behalf of the Board,
For further information, contact the Company at 604-622-1199.
On behalf of the Board of Directors,
"Peter Born"
Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
VIDEO — Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Money
Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Moneyyoutu.be
Raising money is a key challenge for juniors in today's markets — and even when companies are able to secure funds, it's key to remember that not all financings are equal.
Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Joe Mazumdar, editor of Exploration Insights, shared his thoughts on how investors can differentiate between good and bad financings.
Along with considerations like warrants, he told the Investing News Network that before buying shares of an exploration company it's a good idea to look at when it last went to market.
"With Canadian financings — not Australian or anything like that — they have a four month hold, so those people might sell four months later," he explained. "And so if you're looking (for a good time to come in), hold back, wait for the four month hold to be released, let them sell if they're going to sell and then come in on the back side."
Mazumdar also pointed to share structure, saying it can cause problems even for good assets.
"The share structure is very important, because we've got to take that asset and stick it in that share structure," he said. "And so if the share structure is not very good, it doesn't really matter what the quality of the asset is, because you'll probably lose out in terms of your share price increase, because they'll constantly dilute."
In his opinion, juniors that raised extra money in 2021 are now better positioned than those that only raised enough for one season, which is what companies typically do.
"Some of them raised for two years, and now they don't have to worry about what's happening with the volatility in the current market because they're past that," Mazumdar said. "And so I think that trend of raising much more than you need is good given the volatility in the market if you're a non-cash-flowing company."
Watch the interview above for more from Mazumdar on the junior resource sector, as well as on copper. You can also click here for our recap of PDAC, and here for our full PDAC 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.
Teck Named to 2022 Best 50 Corporate Citizens in Canada
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") has been named to the Best 50 Corporate Citizens in Canada ranking as one of the top 50 companies in Canada for corporate citizenship. This marks the 16th consecutive year Teck has been named to the Best 50 by Corporate Knights.
"This acknowledgment is really a reflection of the dedication and passion of Teck's employees, who are focused on caring for people, communities and the environment in every aspect of their work," said Don Lindsay, President and CEO. "Teck is committed to being a positive corporate citizen while responsibly producing the materials needed to build a better quality of life for people around the world and support the low-carbon transition."
The Best 50 Corporate Citizens in Canada are each evaluated on a set of up to 24 environmental, social and governance indicators including board diversity, resource efficiency, financial management, and clean revenue. For more information about the Best 50 Corporate Citizens in Canada and the full rankings, visit https://www.corporateknights.com/rankings/best-50-rankings/2022-best-50-rankings/ .
Teck has set ambitious targets in sustainability, including being carbon neutral by 2050. For more information on our sustainability goals and performance, visit www.teck.com/responsibility .
Corporate Knights also named Teck as one of the 2022 Global 100 Most Sustainable Corporations for the fourth straight year. Teck is the industry leader in the Metals and Mining industry on S&P's Corporate Sustainability Assessment and Moody's ESG rates Teck first among North American metals & mining companies. Teck is also currently listed on the MSCI World ESG Leaders Index, FTSE4Good Index, Bloomberg Gender Equality Index and Jantzi Social Index.
About Teck
As one of Canada's leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal, as well as investments in energy assets. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck's shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources .
Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations & Strategic Analysis
604.699.4621
fraser.phillips@teck.com
Media Contact:
Chris Stannell
Public Relations Manager
604.699.4368
chris.stannell@teck.com
News Provided by GlobeNewswire via QuoteMedia
Cyprium Metals Ltd $16m Placement and $10m Non-renounceable Entitlement Offer
HIGHLIGHTS
- Firm commitments received for a Placement to raise $16M at 11.5 cents per share
- Additional pro rata non-renounceable entitlement offer to raise up to $10M
o 1 new share for every 8 held on the record date at 11.5 cents per share
o Offer will be open to all eligible Cyprium shareholders
- Funds raised will place Cyprium in a strong financial position to continue progressing the development of the Nifty Copper Project
- Equity raise supports recently announced $50M Offtake Prepayment Facility with Glencore
- Advanced discussions are continuing with Senior Debt counterparties
Managing Director Barry Cahill commented:
"The Board is very appreciative of the strong support shown from current shareholders and is pleased to welcome a number of new investors to the register.
Cyprium has made significant advances in the past 15 months both in terms of increasing the mineral resource estimate but also particularly in the areas of SX/EW and infrastructure refurbishment, government approvals and metallurgical optimisation.
With the completion of this capital raising, Cyprium will be able to continue to advance the senior debt financing, with the finalisation of the funding package enabling our construction plans and the production of copper metal plate on site in the second half of 2023."
The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares (Placement Shares) at 11.5 cents each (Offer Price) to raise $16 million (Placement) from sophisticated and institutional investors.
The Company is also pleased to announce a non-renounceable pro rata entitlement offer at the Offer Price of one (1) new share for every eight (8) shares currently held by eligible shareholders to raise up to $10 million (Entitlement Offer).
The new shares to be issued under the Entitlement Offer will be issued at the same price as the Placement Shares.
Use of Funds
The Placement and Entitlement Offer proceeds will be applied as part of the funding strategy to finance the restart of the Nifty Copper Project which will aim to provide a sustainable, secure, and stable supply of copper metal at 25,000tpa.
As announced on 27 June 2022, Cyprium has entered into an exclusive Letter of Intent (LOI) with Glencore International AG for $50 million in respect of a copper cathode offtake secured prepayment facility, as part of the debt financing package for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs. The LOI is a non-binding term sheet for both offtake arrangement and project funding and is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project. The Company continues to advance discussions with senior debt providers who are undertaking due diligence activities and reviewing financing documentation.
Details of Placement
Pursuant to the terms of the Placement, the Company has agreed to issue approximately 139.1 million Placement Shares in the Company at the Offer Price of 11.5 cents per share to raise $16 million before costs, under the Company's existing placement capacity pursuant to ASX Listing Rule 7.1 (82,648,514 Placement Shares) and 7.1A (56,481,921 Placement Shares).
Subscribers for the Placement Shares will be entitled to participate in the Entitlement Offer.
Entitlement Offer
Under the Entitlement Offer, eligible shareholders will be able to subscribe for one (1) new ordinary share for every eight (8) existing fully paid ordinary shares held as at 5.00 pm (AEST time) on Friday, 8 July 2022 (Record Date) at the Offer Price.
The Offer Price represents a:
- 28.1% discount to last close on 27 June 2022;
- 19.6% discount to the 10-day VWAP up to and including 27 June 2022;
- 23.9% discount to the 15-day VWAP up to an including 27 June 2022; and
- 25.8% discount to the theoretical ex-rights issue price (TERP) to last close on 27 June 2022.
Cyprium will release a prospectus detailing the terms of the Entitlement Offer shortly, including details as to whether shareholders are eligible to participate in the Entitlement Offer and key risks (Prospectus). The Prospectus will include a personalised entitlement and acceptance form which will provide further details of how to participate in the Entitlement Offer.
Entitlements are non-renounceable and will not be tradeable on ASX or otherwise transferable. Shareholders who do not take up their entitlements will not receive any value in respect of those entitlements that they do not take up.
The Entitlement Offer will include a top up facility under which eligible shareholders who take up their full entitlement will have the opportunity to apply for additional shares from a pool of those not taken up by other eligible shareholders (Top Up Facility). In addition to the Top Up Facility, there will also be a general shortfall offer pursuant to which the Company may place any shares to non-eligible shareholders within three (3) months from the closing date of the Entitlement Offer.
Eligible shareholders should read the Prospectus carefully before making any investment decision regarding the Entitlement Offer. If you are in any doubt about the Entitlement Offer, you should consult your financial or other professional adviser.
Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited are acting as Joint Lead Managers to the Placement. The fees payable to the Joint Lead Managers will be set out in further detail in the Prospectus.
Longreach Capital is acting as financial advisor and Steinepreis Paganin is acting as legal advisor to Cyprium.
*To view the capital structure post placement, please visit:
https://abnnewswire.net/lnk/009WA5D2
About Cyprium Metals Ltd:
Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.
Source:
Cyprium Metals Ltd
Contact:
Barry Cahill
Executive Director
T: +61 8 6374 1550
Wayne Apted
Chief Financial Officer
and Company Secretary
Lexi OHalloran
Investor and Media Relations
E: lexi@janemorganmanagement.com.au
T: +61 404 577 076
E: info@cypriummetals.com
News Provided by ABN Newswire via QuoteMedia
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