With a mining lease application underway and a scoping study that shows excellent economics, Impact Minerals’ game-changing, advanced Lake Hope high-purity alumina project makes for a compelling investment case.
Impact Minerals (ASX:IPT) is an exploration and development mining company focused on discovering and developing new resource projects within Australia. Lake Hope, a transformational acquisition by the company and its current flagship asset, is a high-purity alumina (HPA) project in Impact’s home territory of Western Australia, a tier-one jurisdiction.
This advanced-stage project allows the company to fast-track the asset toward development, firmly establishing the company on the road to production and increasing shareholder value.
HPA is a high-value product with various uses in several industries that are key to the transition to a low-carbon world. It is mainly used in LED lighting, micro-LED screens, and ceramic-coated separators in lithium-ion batteries. Both these markets are forecast to grow dramatically over the next decade, and a looming supply shortage is predicted for 2026.
HPA is also necessary for producing synthetic sapphire and scratch-resistant glass. With these ever-widening applications for HPA, demand for this resource is expected to grow from US$3.18 billion to US$12.21 billion by 2030 with a compounded annual growth rate of about 20 percent.
Lake Hope is the company’s current focus as it moves towards production, and where a very shallow, high-grade resource of HPA precursor material has been identified in the top two meters of a dry salt lake. The deposit has unique physical and chemical properties that will allow for inexpensive digging and mining, with transportation to a processing facility off-site in an established industrial area. This will accelerate the approvals processes required to get into production.
With a mining lease application pending, Impact aims to bring Lake Hope, which contains almost 1 million tons of potential HPA, into production when the forecast average price for 4N HPA (99.99 percent Al2O3) and related products is about US$20,000 per ton. The ‘4N’ designation indicates the purity grade, making it suitable for high-tech end uses.
Outstanding economics from the latest scoping study released by the company shows Lake Hope’s potential to be the lowest-cost producer of HPA globally by up to 50 percent.
Lake Hope has a maiden mineral resource estimate (MRE) of 3.5 million tons at 25.1 percent alumina (Al2O3) for a contained 880,000 tons of alumina. The company also received heritage clearances for the entire Lake Hope deposit further de-risking the project and providing another critical component in the company’s application for a mining lease.
Impact completed a bulk sampling and test pits program at the Lake Hope project in December 2023, and later reached a key milestone by producing HPA greater than 99.99 percent (4N) purity from the metallurgical processing of lake clays acquired from Lake Hope.
In February 2024, a new proprietary metallurgical process for producing HPA from the lake clays was identified. Impact produced 99.99 percent (4N) Al2O3 from a low-temperature leach (LTL) process. The LTL process may lower the capital and operating costs to produce HPA compared to the sulphate process which underpinned the recent scoping study. The LTL process will be included in the ongoing pre-feasibility study in parallel with the sulphate process at marginal extra cost to determine the best processing route to HPA. The PFS is due to be completed in late 2024.
A comparison of the LTL process and the sulphate process
The company is well funded to finance the pre-feasibility study at the Lake Hope High Purity Alumina project and exploration activities at the Arkun battery minerals project.
Impact Minerals has been awarded a $2.87 million grant for the commercialisation of its innovative process to produce High Purity Alumina (HPA) from the Lake Hope deposit. The grant is under the Federal Government’s Cooperative Research Centres Projects (CRC-P) program which fosters short-term, industry-led research collaborations. The grant is part of an estimated $6.4 million research and development project to be completed within three years and designed to provide Impact with the relevant information required to complete a definitive feasibility. A key component of the grant funding will be to construct a pilot plant, which is a key goal for 2025, and this will provide consistent material for off-take and qualification trials.
Impact Minerals was also one of the inaugural cohort of seven companies selected to be part of the prestigious BHP Xplor program. BHP Xplor, an accelerator program introduced by BHP in August 2022, is designed to help provide participants with the opportunity to accelerate their growth and the potential to establish a long-term partnership with BHP and its global network of partners.
The BHP Xplor funding was used to identify new target areas for copper and other energy metals around the Broken Hill area in New South Wales, eastern Australia, where Impact has been quietly adding to its ground position for several years.
Additionally, the company is exploring its large Arkun battery metals project, also in Western Australia which covers nearly 2,900 square kilometres. Three new exploration licence applications were submitted recently immediately north of the Arkun project along trend from the recently discovered REE soil geochemistry anomalies at Hyperion, Swordfish and Horseshoe, and the Caligula copper anomaly. These anomalies require drill testing which will occur in 2024 and is an exciting development in the emerging mineral province of southwest WA.
A strong management team with over 50 years of combined industry experience leads the company. With a mining and exploration geology degree, Dr. Mike Jones, managing director, launched a long career consulting and leading mining organizations. Peter Unsworth, the non-executive chairman, has more than 35 years of experience in multiple financial sectors, such as securities industries and wealth management. Paul Ingram, a non-executive director, has led several mining companies since 2003. Impact Minerals has the experience and expertise to lead the company to success.
Impact Minerals’ Lake Hope HPA project is in Western Australia, a tier-one mining jurisdiction. HPA is a crucial component in many new and emerging technologies, creating ongoing demand for high-grade sources. The Lake Hope project is the company’s flagship as it moves toward production.
The scoping study was underpinned by a sulphuric acid process allowing the company to achieve a new milestone by producing HPA with purity of more than than 99.99 percent (4N) from the metallurgical processing of lake clays acquired from Lake Hope. The company further identified a new proprietary metallurgical process for producing HPA from the lake clays. Known as the low-temperature leach (LTL) process, this also produced 99.99 percent (4N) Al2O3 and has the potential to lower even further the capital and operating costs to produce HPA compared to the sulphate process. The LTL process will be included in the ongoing pre-feasibility study along with the sulphate process to determine the best processing route to HPA. The PFS is due to be completed in late 2024.
The Broken Hill project has a significant land position of 815 square kilometers and hosts multiple targets with the potential for high-grade copper. Broken Hill is located in New South Wales, Australia, an area known for its prolific silver-lead-zinc mining operations and the giant Broken Hill deposit.
The Arkun project is a 2,900-square-kilometer nickel, copper and gold project located in the emerging Ni-Cu-PGE province near the world-class Julimar Ni-Cu-PGE deposit and surrounded by Anglo American Corporation, which secured its ground holding shortly after Impact secured its asset. Anglo-American is one of the world’s top ten mining companies, and their presence in the region brings confidence in the project’s potential.
Peter Unsworth, formerly a chartered accountant, has over 35 years of experience in the corporate finance, investment and securities industries and a wealth of management experience with public and private companies. A former executive director with a leading Western Australian stockbroking company, Unsworth has been a director of several public exploration and mining companies. He recently completed a long time serving as chairman of the Western Australian Government-owned Gold Corporation (operator of The Perth Mint). Unsworth is the founding chairman of Impact Minerals.
Dr. Mike Jones is the founding managing director of Impact Minerals Limited, which was listed on the Australian Stock Exchange in November 2006. Reporting to the board of directors, he is responsible for the company's performance as it moves towards production at its Lake Hope High Purity Alumina Project and also for implementing strategies to explore and maximize the value of the company's other extensive tenement holdings.
Since listing, he has helped raise more than $60 million to help fund the exploration of Impact’s projects and managed the company through significant adverse events, including the global financial crisis and the Fukushima nuclear disaster, which affected Impact’s considerable investment in the uranium sector, a five-year global downturn in the mining sector and more recently, the COVID-19 pandemic.
Paul Ingram is a geologist with extensive experience managing major mineral exploration programs for several publicly listed companies and has been involved in the mining sector for over thirty years. He has designed and implemented innovative techniques for exploration in remote areas and has managed projects in countries throughout Australia and East Asia. Ingram has been a director of the following listed companies in the past three years: Polo Resources from January 2008 to January 2011; A-Cap Resources since June 2009; Consolidated Global Investments since September 2006; Caledon Resources from February 2003 to March 2008; and Australian Pacific Coal since March 2011.
Dr. Frank Bierlein is a geologist with 30 years of experience as a consultant, researcher, lecturer and industry professional. Bierlein has held exploration and generative geology management positions with QMSD Mining, Qatar Mining, Afmeco Australia and Areva NC, and consulted for, among others, Newmont Gold, Resolute Mining, Goldfields International, Freeport McMoRan, and the International Atomic Energy Agency. He is currently a non-executive director of PNX Metals. He was previously a non-executive director of Gold Australia NL and chaired the advisory board of a Luxembourg-based private equity fund between 2014 and 2021.
More than 2,000 gold grains per 10kg of material
Nuvau Minerals Inc. (TSXV: NMC) (the "Company" or "Nuvau"), is pleased to share a highlight from its fall 2023 sonic drilling program at the Matagami Mining Camp that has delineated an exciting new gold target on the Company's large-scale property.
"This anomaly is of prime significance as potential evidence of an eroded gold occurrence, likely located within a kilometre north-east of the hole collar," said Peter van Alphen, President and CEO. "The Matagami camp has a long history of base metal mining, and yet the property's location in the Abitibi also makes it a prime location for gold mineralisation. At over 2,000 grains of gold per 10kg of material, this is an anomaly of regional significance, likely higher than any previous results known in the Abitibi. The Borden Gold Mine in Chapleau was discovered through the same means of mapping overburden till anomalies, and the highest concentration seen in that case was only about 800 grains per 10kg."
About the 2023 Sonic Drill Program at the Matagami Property
Following a successful proof-of-concept survey conducted in spring 2023, a first phase of a property scale overburden drilling program was conducted on the Matagami property, approximately 30 kilometres to the west of the Matagami Mill complex, in late 2023. The sonic drill program consisted of 24 holes totaling 726 metres of core and was conducted to evaluate the potential dispersion of gold and base metal minerals in glacial sediments buried underneath the Ojibway clay belt. Part of the survey was aimed at confirming a gold-in-till anomaly first detected by Newmont Mining in 1987.
The Matagami Property is located in a part of the northern Abitibi greenstone belt that is host to numerous gold and base metal mines, however, very little effort was previously focused on the gold potential of this large property. Canada's largest producing gold mine, Agnico's Detour Mine, is located on-trend to the west (see figure 2). The Casa Berardi Mine is located to the southwest of the Matagami Property and was discovered through a combination of geological exploration techniques, including prospecting based on regional geological mapping, airborne geophysical surveys, and subsequent ground-based exploration including soil and till sampling.
A total of 151 samples of glacial sediments were collected and submitted for gold grains and indicator mineral counting with the use of automated ARTGold technology by IOS Geosciences from Saguenay, QC, plus multi-element chemical analysis of the fine fraction (-170 um) of the sediments. A total of 9 samples are deemed anomalous, with gold grain counts in excess of 30 grains per 10kg of material.
Hole PD-23-030s - Of these, one sample from hole PD-23-030s produced a notable gold grain anomaly. The anomaly was detected at depth between 29.26 to 29.87 metres in the overburden (sample 155320186), and featured more than 2,000 gold grains per 10 kg of material. In addition, a near-contiguous sample with 295 gold grains per 10 kg of material between 31.12 to 32.00 metres (sample 155320187) was also encountered. The interval between these two samples consisted of a large locally derived boulder.
The bulk of these gold grains bear very delicate (pristine) form, with enshrined silicate minerals, suggestive of minimal glacial transport. No chemical anomalies and no abnormal abundance of indicator minerals were detected.
Pebbles in these samples consist uniquely of andesitic basalts, along with a significant proportion of quartz veins fragments. This suggests the presence of an auriferous quartz vein system invading the meta-andesite, believed to possibly be within a kilometre to the north-east of the collar.
This anomaly is located approximately 5 metres above the bedrock, meaning it has been displaced by glacial movement. Since no previous drilling or outcrop is available in the north-east up-ice direction, displacement cannot be accurately estimated.
Additional analysis is still required to understand the follow-up action required, however; a second-order structure highlighted by a VTEM geophysical anomaly beside a high-gravity distinct anomaly is present 2 kilometres in this direction, which is tentatively suggested as potential source and is currently considered as a priority diamond drill target.
Figure 1 : Nuvau's Matagami property, General Location
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Figure 2: Matagami Property Location relative to the gold producers of the region. Results from adjacent property(ies) are not necessarily indicative of the mineralization on Nuvau's property.
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Figure 3: Location of hole PD-23-030s with airborne gravity map (color) and VTEM pick (black dots)
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Figure 4: Mosaic of backscattered electron images of gold grain. Notice the delicate textures and silicate attachments. LEFT: Image of 230 gold grains found in sample 155320186, hole PD-23-030s, RIGHT: Image of 112 gold grains found in adjacent sample 155320187.
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Figure 5: (Left) Pebble composition of sample 155320186 showing 2,000 grains of gold per 10kg, and (right) section of Hole PD-23-030s indicating samples 155320186 and 155320187 (shown as 20186 and 20187 for brevity).
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About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau's principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.
Qualified Person and Quality Assurance
Gilles Roy, P. Geo. (Qc), Director of Exploration of Nuvau and a "qualified person" as is defined by National Instrument 43-101, has verified the scientific and technical data disclosed in this news release, and has otherwise reviewed and approved the scientific and technical information in this news release.
Core has been quicklogged on drilling site and shipped by truck to IOS facilities in Saguenay for detailed logging and sampling by a qualitifed quartenary geologist. Hole core from selected intervals has been bagged and queued for processing in the same facility, where samples were sifted and gold grain concentrated with a proprietary fluidized bed. Concentrates were then dry sifted at 50 μm, the +50 μm being examined under optical microscope while -50 μm being scanned by automated electron microscope. Every suspected gold grain has been analysed by Energy Dispersive X-Ray Spectrometer (EDS) and high magnification back-scattered images have been acquired in order to classify morphology. Quality control is ensured via various mass balance calculations and EDS analysis of all grains of interest, prior to results being cross-examined by experienced geologists. In the course of sifting, an aliquot of the sample has been saved and shipped for analysis to Activation Laboratories in Ancaster, Ontario, for ICP-MS-QQQ ultra-trace analyses after aqua-regia digestion. Quality control has been conducted by a certified chemist and includes approximately 15% blanks, certified reference materials and internal reference materials.
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-Looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning drill results relating to the Matagami Property, the results of the PEA, the potential of the Matagami Property, the timing and commencement of any production, the restart of the Bracemac-McLeod Mine, the completion of the earn-in of the Matagami Property and the timing and completion of any technical studies, feasibility studies or economic analyses. Forward-Looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Matagami Property. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
For further information please contact:
Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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HIGHLIGHTS
Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to report results from four diamond drill holes completed as part of the expanded drill campaign targeting the BBM zone at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. The drill program, which began in November 2024, is complete with a total of 6,379.9m drilled. Drill holes OEDD-106 and OEDD-109 to OEDD-111 were drilled along the eastern margin of the main northwest-plunging mineralized zone, where the Company is increasing drill spacing to a 100m grid (see drill plans and sections in the link below). Notably, drill hole OEDD-111 intersected shallow, broad-width mineralization from just 53m downhole, with good grade. Assay results from 14 drill holes of the BBM diamond drill program are still pending.
"We are pleased to share additional strong drill results from BBM. The four newly reported holes, along with those previously announced this quarter, continue to meet our expectations, returning robust gold and copper mineralization with consistent broad width and grade. These results further confirm the continuity of mineralization at BBM and highlight its near-surface potential.
It's very pleasing to see the intense exploration efforts we initiated at the start of the 2024-2025 dry season in November now bearing fruit. Results at BBM have met all expectations, and with two rigs operating, we anticipate further promising results ahead. We recently announced significant progress across multiple fronts, including the completion of RC drilling at Fremen, diamond drilling at Empire, a 150-line-km IP geophysics survey along the BBM trend, ongoing drilling at the BBM extensions and Charger, and preparation for drilling at Lando. With multiple active exploration programs underway, I am extremely pleased with the team's momentum and dedication," commented Andrew Chubb, CEO of Awalé Resources.
Watch CEO Andrew Chubb Discuss the Results
A full table of significant intercepts from the current release, with drill collar locations for all drilling in this phase at BBM are presented in Table 1 and Table 2, respectively.
Table 1: Significant Intercepts - (from this release)
| Hole | From (m) | To (m) | Width (m) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | AuEq. (80%) | Comp Trigger (Au g/t) |
| OEDD0106 | 332 | 360 | 28 | 0.7 | 0.28 | 1.0 | 185 | 1.0 | 0.5 |
| Including | 338 | 345 | 7 | 1.1 | 0.51 | 1.6 | 97 | 1.5 | 1.0 |
| OEDD0109 | 336 | 378 | 42 | 0.7 | 0.24 | 1.0 | 124 | 0.9 | 0.2 |
| Including | 359 | 373 | 14 | 1.4 | 0.39 | 1.4 | 217 | 1.7 | 1.0 |
| OEDD0110 | 272 | 305 | 33 | 0.9 | 0.25 | 1.0 | 129 | 1.1 | 0.5 |
| Including | 289 | 304 | 15 | 1.2 | 0.29 | 1.4 | 169 | 1.4 | 1.0 |
| OEDD0111 | 53 | 113 | 60 | 1.4 | 0.14 | 0.6 | 270 | 1.4 | 0.2 |
| Including | 57 | 64 | 7 | 2.0 | 0.24 | 1.3 | 354 | 2.1 | 1.0 |
| Including | 57 | 59 | 2 | 4.0 | 0.43 | 1.9 | 782 | 4.1 | 2.0 |
| and | 76 | 83 | 7 | 1.8 | 0.17 | 0.5 | 454 | 1.9 | 1.0 |
| and | 98 | 107 | 9 | 4.7 | 0.29 | 1.3 | 227 | 4.2 | 1.0 |
| Including | 101 | 106 | 5 | 7.5 | 0.33 | 1.7 | 275 | 6.5 | 2.0 |
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About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is focused on the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited ("Newmont").
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well-seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent ALS Laboratories in Ghana and Ireland, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by ALS from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.
Table 2: BBM Drilling Collar Cable - (all collars from this program)
| Hole ID | Easting | Northing | RL_M | AZIM_TRUE | DIP | EOH_M | Results Received | Comments |
| OEDD0103 | 655899 | 1048090 | 450 | 35 | -55 | 197.43 | ✓ | |
| OEDD0104 | 655737 | 1048029 | 451 | 35 | -55 | 452.3 | ✓ | |
| OEDD0105 | 656034 | 1048010 | 454 | 35 | -55 | 182.17 | ✓ | |
| OEDD0106 | 655947 | 1047877 | 453 | 35 | -55 | 434.3 | ✓ | |
| OEDD0107 | 656024 | 1047863 | 455 | 35 | -55 | 30.5 | Failed Hole | |
| OEDD0108 | 656027 | 1047867 | 453 | 35 | -55 | 338.2 | ✓ | |
| OEDD0109 | 655999 | 1047787 | 455 | 35 | -55 | 411.13 | ✓ | |
| OEDD0110 | 656075 | 1047766 | 457 | 35 | -55 | 380 | ✓ | |
| OEDD0111 | 656179 | 1047907 | 457 | 35 | -55 | 155.1 | ✓ | |
| OEDD0112 | 656248 | 1047824 | 461 | 35 | -55 | 140.2 | ||
| OEDD0113 | 656157 | 1047726 | 460 | 44 | -56 | 320.2 | ||
| OEDD0115 | 656118 | 1047645 | 460 | 35 | -55 | 431.29 | ||
| OEDD0119 | 655870 | 1048027 | 448 | 35 | -55 | 341.6 | ||
| OEDD0122 | 655737 | 1048132 | 451 | 35 | -55 | 245.2 | ||
| OEDD0123 | 656299 | 1047755 | 462 | 35 | -55 | 140.15 | ||
| OEDD0125 | 656253 | 1047682 | 462 | 35 | -55 | 251 | ||
| OEDD0128 | 655693 | 1048160 | 453 | 35 | -55 | 275.74 | ||
| OEDD0129 | 656211 | 1047615 | 448 | 35 | -55 | 341.15 | ||
| OEDD0130 | 655650 | 1048106 | 433 | 35 | -55 | 107.2 | ||
| OEDD0131 | 655823 | 1048362 | 419 | 215 | -55 | 360.2 | ||
| OEDD0132 | 655566 | 1048098 | 424 | 35 | -55 | 422.2 | ||
| OEDD0133 | 655546 | 1048192 | 442 | 35 | -55 | 332.1 | ||
| OEDD0076 | 655766 | 1048079 | 450 | 35 | -55 | 344.76 | 90.56m re-entry |
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Mineralized Interval Calculations
Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the BBM target, initial mineralized zones are calculated at a 0.2 g/t trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 0.5 g/t, 1 g/t, and 2 g/t trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all BBM holes reported in this release. True widths are estimated to be 70% of the downhole widths.
Au Equivalent Calculations
Au Equivalent is calculated using the following parameters in USD: Au - 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm) * 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific recovery rates for individual metals are unclear, and assuming different recoveries would be premature at this stage.
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company's Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company's Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
Abbreviations Used in this Release
| Ag | Silver |
| Au | Gold |
| AuEq. | Gold Equivalent |
| Cu | Copper |
| g/t | Grams per tonne |
| km | Kilometres |
| m | Metres |
| Mo | Molybdenum |
| ppm | Parts per million |
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AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com
The Company's public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-Looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-Looking statements in this press release include but are not limited to statements regarding, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-Looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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.
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Falco Resources Ltd. (TSX.V: FPC) (" Falco " or the " Company ") announces today that it has received a letter from the Direction de l'évaluation environnementale des projets industriels et minières at the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (the " Ministry ") regarding the Horne 5 Project (the " Project ").
This letter includes observations regarding the application of section 197 of the Clean Air Regulations (" CAR "), and identifies certain issues related to the Project further to the analysis of the environmental acceptability of the Project. A comprehensive list of comments, questions and requests for additional technical studies is also attached to the letter.
Air Quality in Rouyn-Noranda
The letter sets forth the Ministry's position regarding its interpretation of section 197 of the CAR to the effect that the atmospheric dispersion modeling filed by Falco does not conform to section 197 of the CAR. The Ministry considers that according to this modeling, the Project would increase the contaminant concentration in the air of Rouyn-Noranda.
As previously disclosed by Falco, section 197 of the CAR stipulates that a project cannot be authorized if it is likely to add contaminants to the air, the concentration of which is already higher than the standards in force.
Currently, arsenic and other metals are present in the ambient air of Rouyn-Noranda at concentrations presumably higher than the standards in force. As previously disclosed by Falco, increased public and government attention to air quality in Rouyn-Noranda have already delayed and impacted the environmental authorization process for the Project.
The results of the modeling of the projected atmospheric emissions of the Project, carried out by a firm of seasoned experts and in accordance with the Ministry guidelines, demonstrated a maximum contribution more than 2,000 times lower than the standard for arsenic and similar results for other metals. Falco is of the opinion that the result of this modeling for excess metals is zero when this result is rounded to a number with the same precision as the limit value provided for in Appendix K of the CAR. Thus, the maximum contribution for arsenic (standard of 0.003 μg/m3) modeled at 0.00000127 μg/m3 should be expressed as 0.000 μg/m3 and should be considered as resulting in no increase in the concentration in the atmosphere. The contribution of the Project to atmospheric emissions would therefore be compliant with section 197 of the CAR.
The position taken by the Ministry requires that Falco performs an atmospheric dispersion model demonstrating a contribution of nil (0.000∞) for metals already in exceedance in the ambient air in order to conclude that the Project is compliant, which is scientifically impossible. The Ministry will not recognize the fact that the Project results in a negative mass balance.
The Ministry maintains its strict interpretation despite the submissions and arguments presented again recently by Falco. This strict interpretation therefore means that no industrial or other project emitting contaminants already in exceedance in the ambient air could be developed in Rouyn-Noranda in compliance with section 197 of the CAR. This reasoning would also apply to the development of any project in other regions of Québec where contaminants in the ambient air are already in exceedance.
The BAPE report published on January 7, 2025, concludes that the strict interpretation of section 197 of the CAR promoted by the Ministry makes it difficult to envisage the Project's compliance with this regulation, and recommended that the Ministry initiate a reflection with respect to a more complete and adapted integration of environmental impacts and the consideration of the mass balance of emissions.
All in all, Falco has invested over $150 million in the Project since its inception, including for technical studies and other expenses, the school expansion and multipurpose athletic fields and other diverse initiatives relating to the social acceptability of the Project.
Project highlights include:
Issues
As previously communicated, Falco welcomed with interest the BAPE report in which the commission of inquiry submits to the attention of the relevant decision-making bodies various elements that require commitments, actions or modifications, which are necessary for the issuance of government authorizations. Falco summarized its main findings in a summary of the highlights available on its website.
In its latest correspondence, the Ministry reminded Falco that in addition to compliance with section 197 of the CAR, the Project involves other major issues that could compromise its environmental acceptability, including the preservation of surface and groundwater quality, the impact of the choice of location of the mine tailings management facilities, the potential impacts of the drawdown of the water table on soil subsidence and the possible impact of the project on the radiation oncology centre located near the mining complex. The correspondence adds that, in this context, the Ministry asks Falco to indicate its intentions regarding the continuation of the environmental impact assessment and review process of the Project.
List of Additional Comments and Questions
The correspondence received by Falco also includes several additional questions and comments from the Ministry, requiring numerous supplemental technical studies despite the fact that some of these questions relate to new elements which had not been previously raised to Falco in the past six years, and that the acceptability of the environmental impact study had been confirmed. The correspondence reveals an approach where the Ministry continues to increase its demands through the process by requiring technical and other documents and studies that have either already been provided, are not reasonably necessary to conclude on the issues analyzed at this stage of the Project or which completion would generate very significant costs and delays for Falco without certainty of results.
Management Reactions and Next Steps
Luc Lessard, President and Chief Executive Officer of Falco, commented: "Falco presented to the Québec governmental authorities a promising mining development project for the city of Rouyn-Noranda, the Abitibi-Témiscamingue region and Québec. Falco completed technical and environmental studies on all the subjects required by the Ministry prior to the BAPE process, including air quality and groundwater management, in collaboration with seasoned experts in the various sectors concerned. The Project was structured in a way to preserve the quality of life of the citizens of Rouyn-Noranda and ensure that the contribution of the Project to the ambient air does not pose a risk to their health. The population of Rouyn-Noranda significantly supports the Project, as demonstrated by the numerous briefs and testimonies submitted to the BAPE.
In the current context of increasing protectionism in the United States, the Government of Québec must respond by reducing administrative obstacles to regional and provincial economic development and job creation. Falco is disappointed by the limited collaboration from the Ministry and the government to develop this collective wealth. Far from being constructive, this approach creates an unpredictable business climate and imposes undue delays."
Falco is evaluating with its advisors the alternatives available to it and will provide an update when developments warrant it or when required by applicable securities laws. There is no certainty or guarantee that the Ministry will change its position regarding the application of section 197 of the CAR to the Project, that Falco will be able to respond to the Ministry's numerous additional requests in a timely manner or that Falco will be able to raise the funds necessary to pursue the additional studies requested by the Ministry, which could significantly delay or prevent the granting of the required authorizations and therefore have an adverse impact on the development of the Project and on Falco's financial position.
The Company will not provide additional comments at this time and will not grant interviews.
About Falco
Falco Resources is one of the largest holders of mining titles in the province of Quebec, with a large portfolio of properties in the Abitibi greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda Mining Camp, representing 67% of the entire camp and including 13 former gold and base metals mining sites. Falco's principal asset is the Horne 5 project located beneath the former Horne mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco's largest shareholder with a 16.0% interest in the Company.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514 261-3336
info@falcores.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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, " forward-looking statements ") within the meaning of applicable securities laws. These statements include references to the impact of the Horne 5 Project on air quality in Rouyn-Noranda, the Ministry's interpretation of section 197 of the CAR, the issues identified in the course of the BAPE process and noted by the Ministry, Falco's assessment of the alternatives available to it, the development of the Horne 5 Project and the granting of environmental authorizations. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. The occurrence of such events or the realization of such statements is subject to a number of risk factors, including, without limitation, the risk factors identified in Falco's annual management's discussion and analysis and in other continuous disclosure documents available at www.sedarplus.com .
Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this press release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information.
News Provided by GlobeNewswire via QuoteMedia
StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company") is pleased to announce the discovery of a wide zone of high-grade graphite mineralization at its Nagvaak property on the Melville Peninsula, Nunavut. A 32-metre drill core interval from historical drill hole NAG96-17 returned an average grade of 15% graphitic carbon (Cg), with a 17-metre section grading 22% Cg. These results reinforce the potential for a significant graphite deposit within the emerging Melville Critical Metals Belt.
Building on this success, StrategX has expanded its mineral claim property position to 79,781 hectares, securing control over a highly prospective critical minerals district. The Company is advancing exploration efforts in the region, positioning itself at the forefront of critical mineral discoveries in Canada.
Key Highlights:
High-Grade Graphite Discovery at Nagvaak
Following encouraging initial results from 20 core samples previously reported here, the Company analyzed the remaining core from NAG96-17, totaling 56 samples. The results confirmed a 32-metre interval averaging 15% Cg from 14.4 m to 47.0 m, with multiple high-grade intercepts including 23% Cg from 58.8 m to 62.8 m, reinforcing the potential for large-scale graphite mineralization.
Given that graphitic schist units have been mapped along a 6 km corridor at Nagvaak-and similar units have been documented throughout the Melville Critical Metals Belt by the Geological Survey of Canada-this discovery signals significant regional potential for additional wide zones of high-grade graphite (Figure 1).
Figure 1: StrategX's property position & regional potential - Melville Critical Metals Belt
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/243029_05765eb8d49b29c2_006full.jpg
| Table 1 - NAG96-17 Assay results * Indicates newly analyzed values. All other values have been previously released. | ||||||||||
| Sample # | From | To | C Graphitic | Mo | Zn | Ag | Ni | Cu | Au + PGE | V2O5 |
| % | % | % | g/t | % | % | g/t | % | |||
| NC-245* | 2.4 | 3.4 | 28.00 | 0.04 | 0.10 | 9.12 | 0.13 | 0.19 | 0.25 | 0.34 |
| NC-246* | 3.4 | 4.4 | 28.20 | 0.04 | 0.28 | 6.79 | 0.17 | 0.09 | 0.05 | 0.33 |
| NC-247* | 4.4 | 5.4 | 8.89 | 0.04 | 0.09 | 9.68 | 0.14 | 0.15 | 0.07 | 0.53 |
| NC-248* | 5.4 | 6.4 | 7.01 | 0.04 | 0.03 | 9.66 | 0.13 | 0.16 | 0.06 | 0.55 |
| NC-249* | 6.4 | 7.4 | 12.60 | 0.03 | 0.06 | 6.46 | 0.27 | 0.16 | 0.21 | 0.41 |
| NC-249B* | 7.4 | 8.4 | 2.03 | 0.04 | 0.08 | 14.20 | 0.20 | 0.29 | 0.07 | 0.44 |
| NC-250* | 8.4 | 9.4 | 0.10 | 0.01 | 0.14 | 8.28 | 0.26 | 0.15 | 0.10 | 0.32 |
| NC-251* | 9.4 | 10.4 | 0.09 | 0.01 | 0.13 | 4.38 | 0.15 | 0.07 | 0.13 | 0.14 |
| NC-252* | 10.4 | 11.4 | 0.02 | 0.00 | 0.02 | 10.60 | 0.21 | 0.19 | 0.10 | 0.21 |
| NC-253* | 11.4 | 12.4 | 0.06 | 0.03 | 0.03 | 5.32 | 0.10 | 0.10 | 0.05 | 0.27 |
| NC-254* | 12.4 | 13.4 | 0.05 | 0.02 | 0.02 | 1.90 | 0.03 | 0.02 | 0.02 | 0.18 |
| NC-255* | 13.4 | 14.4 | 0.12 | 0.00 | 0.06 | 2.86 | 0.06 | 0.04 | 0.04 | 0.18 |
| NC-256* | 14.4 | 15.4 | 2.51 | 0.03 | 0.05 | 3.62 | 0.08 | 0.06 | 0.03 | 0.29 |
| NC-257 | 15.4 | 16.4 | 11.85 | 0.05 | 0.04 | 4.92 | 0.14 | 0.11 | 0.05 | 0.26 |
| NC-258 | 16.4 | 17.4 | 10.15 | 0.02 | 0.08 | 5.23 | 0.39 | 0.10 | 0.05 | 0.29 |
| NC-259 | 17.4 | 18.4 | 31.00 | 0.04 | 0.64 | 8.28 | 0.21 | 0.11 | 0.05 | 0.42 |
| NC-260 | 18.4 | 19.4 | 14.95 | 0.03 | 0.61 | 7.97 | 0.29 | 0.14 | 0.19 | 0.47 |
| NC-261 | 19.4 | 20.4 | 23.90 | 0.04 | 3.55 | 6.33 | 0.25 | 0.12 | 0.07 | 0.30 |
| NC-262 | 20.4 | 21.4 | 25.30 | 0.04 | 0.64 | 7.20 | 0.12 | 0.10 | 0.06 | 0.42 |
| NC-263 | 21.4 | 22.4 | 20.10 | 0.03 | 0.30 | 7.46 | 0.30 | 0.08 | 0.07 | 0.41 |
| NC-264 | 22.4 | 23.4 | 23.60 | 0.04 | 0.87 | 7.30 | 0.19 | 0.08 | 0.07 | 0.35 |
| NC-265 | 23.4 | 24.4 | 25.20 | 0.02 | 2.42 | 9.51 | 0.21 | 0.16 | 0.18 | 0.36 |
| NC-266* | 24.4 | 25.4 | 26.90 | 0.03 | 0.60 | 7.59 | 0.19 | 0.07 | 0.07 | 0.34 |
| NC-267* | 25.4 | 26.4 | 22.90 | 0.03 | 0.07 | 10.80 | 0.11 | 0.23 | 0.03 | 0.41 |
| NC-268* | 26.4 | 27.4 | 23.00 | 0.02 | 0.80 | 6.98 | 0.24 | 0.13 | 0.10 | 0.41 |
| NC-269* | 27.4 | 28.4 | 25.50 | 0.03 | 0.02 | 9.45 | 0.24 | 0.19 | 0.11 | 0.33 |
| NC-270 | 28.4 | 29.4 | na | 0.04 | 0.08 | 12.90 | 0.24 | 0.31 | 0.11 | 0.38 |
| NC-271 | 29.4 | 30.4 | 22.80 | 0.04 | 0.13 | 8.75 | 0.33 | 0.18 | 0.14 | 0.43 |
| NC-272 | 31.4 | 32.4 | 18.10 | 0.05 | 0.09 | 6.80 | 0.24 | 0.12 | 0.11 | 0.48 |
| NC-273 | 32.4 | 33.4 | 15.05 | 0.05 | 0.17 | 7.52 | 0.19 | 0.14 | 0.07 | 0.50 |
| NC-274 | 33.4 | 34.4 | 25.30 | 0.04 | 1.11 | 12.10 | 0.24 | 0.23 | 0.14 | 0.44 |
| NC-275 | 34.4 | 35.1 | 29.60 | 0.04 | 1.01 | 10.15 | 0.26 | 0.08 | 0.09 | 0.44 |
| NO SAMPLE | 35.1 | 36.0 | na | na | na | na | na | na | na | na |
| NC-276 | 36.0 | 37.0 | 34.90 | 0.04 | 0.65 | 9.19 | 0.29 | 0.08 | 0.12 | 0.30 |
| NC-277 | 37.0 | 38.0 | 18.25 | 0.04 | 2.02 | 12.65 | 0.31 | 0.22 | 0.16 | 0.44 |
| NC-278 | 38.0 | 39.0 | 11.15 | 0.04 | 0.46 | 13.65 | 0.36 | 0.22 | 0.08 | 0.40 |
| NC-279 | 39.0 | 40.0 | 10.90 | 0.03 | 3.65 | 14.20 | 0.54 | 0.24 | 0.27 | 0.36 |
| NC-280 | 40.0 | 41.0 | 11.15 | 0.03 | 2.46 | 12.70 | 0.40 | 0.18 | 0.16 | 0.32 |
| NC-281* | 41.0 | 42.0 | 9.36 | 0.03 | 0.88 | 7.73 | 0.31 | 0.17 | 0.11 | 0.49 |
| NC-282* | 42.0 | 43.0 | 4.26 | 0.04 | 0.52 | 5.13 | 0.27 | 0.11 | 0.08 | 0.58 |
| NC-283* | 43.0 | 44.0 | 1.72 | 0.04 | 0.13 | 5.56 | 0.14 | 0.08 | 0.06 | 0.60 |
| NC-284* | 44.0 | 45.0 | 5.78 | 0.05 | 0.47 | 7.43 | 0.49 | 0.15 | 0.12 | 0.51 |
| NC-285* | 45.0 | 46.0 | 3.14 | 0.04 | 1.06 | 7.44 | 0.49 | 0.14 | 0.08 | 0.48 |
| NC-286* | 46.0 | 47.0 | 2.21 | 0.03 | 0.57 | 6.30 | 0.37 | 0.11 | 0.10 | 0.49 |
| NC-287* | 47.0 | 48.0 | 0.20 | 0.02 | 0.13 | 3.96 | 0.09 | 0.06 | 0.06 | 0.51 |
| NC-288* | 48.0 | 49.0 | 0.10 | 0.04 | 0.16 | 2.79 | 0.08 | 0.05 | 0.08 | 0.45 |
| NO SAMPLE | 49.0 | 54.8 | na | na | na | Na | na | na | na | na |
| NC-289* | 54.8 | 55.8 | 2.80 | 0.01 | 0.07 | 0.78 | 0.06 | 0.03 | 0.03 | 0.15 |
| NC-290* | 55.8 | 56.8 | 1.36 | 0.01 | 0.03 | 0.54 | 0.03 | 0.02 | 0.02 | 0.08 |
| NC-291* | 56.8 | 57.8 | 2.19 | 0.01 | 0.11 | 0.56 | 0.04 | 0.03 | 0.01 | 0.06 |
| NC-292* | 57.8 | 58.8 | 2.51 | 0.02 | 0.40 | 1.12 | 0.09 | 0.06 | 0.06 | 0.26 |
| NC-293* | 58.8 | 59.8 | 23.80 | 0.04 | 0.49 | 1.40 | 0.29 | 0.10 | 0.10 | 0.43 |
| NC-294* | 59.8 | 60.8 | 26.20 | 0.04 | 1.01 | 1.08 | 0.28 | 0.05 | 0.06 | 0.37 |
| NC-295* | 60.8 | 61.8 | 18.90 | 0.05 | 1.17 | 1.87 | 0.19 | 0.14 | 0.11 | 0.49 |
| NC-296* | 61.8 | 62.8 | 23.20 | 0.02 | 0.05 | 2.65 | 0.37 | 0.17 | 0.09 | 0.35 |
| NC-297* | 62.8 | 63.8 | 2.19 | 0.00 | 0.01 | 0.17 | 0.01 | 0.01 | 0.00 | 0.03 |
| NC-298* | 63.8 | 64.4 | 0.60 | 0.00 | 0.01 | 0.11 | 0.01 | 0.00 | 0.00 | 0.01 |
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Regional Potential of the Melville Critical Metals Belt
Exploration on the Melville Peninsula has historically been limited to zinc exploration (1970s & 1990s) and isolated gold exploration. The Company's work is revealing a much larger, overlooked critical metals system associated with the Penrhyn Basin's geological evolution. This suggests the region holds potential for large-scale critical metals deposits, positioning StrategX as a pioneer in unlocking its value.
Next Steps
Graphite: A Critical Material for the Energy Transition
Graphite is a critical material in the shift toward sustainable energy solutions. It is a key component in lithium-ion batteries, which power electric vehicles (EVs) and store renewable energy from sources like solar and wind. Additionally, its high conductivity, thermal stability, and durability make it essential for fuel cells and other advanced energy technologies. As global demand for clean energy grows, graphite's role in improving energy storage, efficiency, and sustainability becomes increasingly important. Benchmark Minerals Intelligence estimates that approximately 97 new natural graphite mines need to come online by 2035. Graphite represents the largest component of the batteries, and there is no current replacement for graphite in the anode. In addition to the grade and size of deposits, graphite quality is important. Specifically, flake size, shape and purity are key determinants for value per tonne and ease of processing.
As of February 2025, the graphite market is experiencing significant shifts in supply and demand dynamics, influenced by geopolitical events, production challenges, and the accelerating transition to green energy.
Qualified Person
The geological and technical data contained in this press release were reviewed and approved by the Vice President - Exploration for the Company, Gary Wong, P.Eng., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Analytical Methods & QA/QC
The analytical work reported herein was performed by ALS Global ("ALS"), Vancouver, Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geo analytical laboratory and is independent of the Company and the QP.
All core samples were of historically sawn half-core and no verification of the original sawing and sampling techniques, or core recovery calculations were possible. The samples taken were of pre-existing half-core and submitted to ALS Geochemistry for analysis. Samples were crushed entirely to 70% passing - 2mm, 250g split off and pulverized to better than 85% passing 75 microns. Multi-Element Ultra Trace uses a four-acid digestion performed on a 0.25g sample to quantitatively dissolve most geological materials culminating in analytical analysis performed with a combination of ICP-AES and ICP-MS (method ME-MS61). From there, either PGM-ICP23 or Au-ICP21 was used, depending on whether platinum group metals were suspected. Both methods use a 30g lead fire assay with ICP-AES finish. Graphitic C is determined by digesting a sample in 50% HCl to evolve carbonate as CO2. The residue is filtered, washed, dried, and then roasted at 425C. The roasted residue is analyzed for carbon by oxidation, induction furnace and infrared spectroscopy. No field QA/QC samples (blanks, duplicates, and standards) were inserted because appropriate QA/QC samples are still being sourced.
About StrategX
StrategX is an exploration company focused on discovering critical metals in northern Canada. With projects on the East Arm of the Great Slave Lake (Northwest Territories) and the Melville Peninsula (Nunavut), the Company is pioneering new district-scale discoveries in these underexplored regions. By integrating historical data with modern exploration techniques, StrategX provides investors with a unique opportunity to participate in the discovery of essential metals crucial to electrification, global green energy, and supply chain security.
On Behalf of the Board of Directors
Darren G. Bahrey
CEO, President & Director
For further information, please contact:
StrategX Elements Corp.
info@strategXcorp.com
Phone: 604.379.5515
For further information about the Company, please visit our website at www.strategXcorp.com
Neither the Canadian Securities Exchange nor its regulation services accept responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243029
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