(TheNewswire)
November 27th, 2024 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") a Canadian mineral exploration company focused on precious and base metal projects.
Deepest hole to date demonstrates substantial high-grade growth potential as drilling continues to deliver exceptional results on multiple fronts
Spartan Resources Limited (“Spartan” or “Company”) (ASX: SPR) is pleased to report updated drilling and assay information from recent drilling completed towards the end of 2023 and into 2024 at its 100%- owned Dalgaranga Gold Project (“DGP”) in the Murchison region of Western Australia.
Highlights:
Never Never Gold Deposit:
Four Pillars Gold Prospect – new high-grade gold intercept:
Sly Fox Gold Deposit – new high-grade gold intercept:
Note: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Core processing is currently underway, with assay results expected in early March.
Management Comment
Spartan Managing Director and Chief Executive Officer, Simon Lawson, said: “At the start of the year, we sat down as a geology team at Dalgaranga to reflect on what had been an absolutely massive 2023 and to discuss the future! What targets did we want to drill, what did the Company need to successfully execute the next stage of its growth strategy, and where did Spartan want to be in 12 months?
“We discussed how establishing almost a million high-grade gold ounces at Never Never while doubling the ounces and tripling the resource grade for the overall project might be a hard act to follow!
“As a group we agreed that we have just scratched the surface of the potential that could exist at Dalgaranga. Given our growing understanding of the mineralising systems and the larger potential we were beginning to see at depth at several key deposits as 2023 drew to a close, for 2024 we are following those leads and keeping our strategy simple.
“Our strategy for 2024 is simple: Drill and de-risk.
“Drilling at the key high-grade Never Never Gold Deposit is targeting more rapid high-grade resource growth by mid-2024, and with our first deep hole already hitting more than 20m of typical highly silicified and altered Never-Never-style mineralisation at 878m down-hole, including specs of visible gold, I’d say we’re already well on the way towards achieving that objective!
“We are also drilling to de-risk Never Never by targeting conversion of more than 85% of the current MRE ounces to Indicated classification. This drilling is designed to provide increased grade, volume and metal content confidence to the Spartan engineering team.
“Our drilling and de-risking includes ongoing metallurgical test-work from drill-holes designed and drilled specifically for this purpose. This drilling is yielding crucial information for our ongoing Ore Reserve and Feasibility Study work.
“A recent example is metallurgical drill-hole DGRC1396, drilled inside the Never Never Gold Deposit MRE and potential open pit, which returned a spectacular gold assay of 170m @ 4.13g/t from surface to the footwall contact. This result, while not useful in a resource estimation sense due to its sub-vertical drill angle, gives a useful insight into the down-plunge gold grade variability through any number of open-pit to underground design scenarios for the Never Never Gold Deposit.
“More broadly, we are drilling and de-risking at an operational scale by targeting relatively shallow existing and historic high-grade gold prospects as near-term potential ore feed sources. The Four Pillars and West Winds Gold Prospects continue to yield wide, higher grade drill intercept grades, increasing geological confidence and de-risking open pit scenarios for the former Gilbey’s Mine Complex.
“We have also re-commenced drilling in earnest at the Sly Fox Gold Deposit which, prior to the discovery of the high-grade Never Never Gold Deposit, was the highest-grade gold prospect at Dalgaranga. Sitting less than 2km from the process plant and on granted Mining Leases, we drilled a couple of test holes into Sly Fox late in 2023.
“One of those holes, DGRC1382-DT, which was designed to test the veracity of previous geological interpretations, recently returned 23.83m @ 2.44g/t gold, including 5m @ 5.23g/t from near the very base of the declared Mineral Resource. This latest assay result, along with several recently completed 2024 drill-holes currently awaiting assays, have tested the previous geological interpretation, intersecting wide mineralised intervals well outside any previous resource interpretation and validating Sly Fox as a legitimate high-grade priority target for 2024.
“Spartan has a full set of priority drill targets for 2024. Our strategy is to drill and de-risk our assets through increased geological confidence and orebody knowledge. As we continue this process, we not only grow the potential value of our existing high-grade gold assets in front of our 100%-owned process plant and infrastructure, we also increase confidence in and de-risk the Spartan investment proposition for all our shareholders.”
Click here for the full ASX Release
This article includes content from Spartan Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that it has signed an agreement with Kluane Drilling Corp. to complete up to 30,000 metres of diamond drilling in 2025 at its road accessible RC Gold Project ("RC Gold" or the "Project") located in the prolific Tombstone Gold Belt in the Yukon. This will be the largest drilling campaign ever conducted at RC Gold and is anticipated to focus primarily on follow up drilling at the Rhosgobel and Pukelman intrusion targets along with further expansion drilling at the Blackjack gold deposit and drill testing other high-priority targets identified elsewhere on the district-scale, 431 square kilometre property.
Kluane Drilling Ltd., a well established, highly experienced drilling company based in Whitehorse, Yukon with over 30 years of experience diamond drilling in the Yukon and around the world, has been contracted to complete up to 30,000 metres of drilling at the Company's flagship RC Gold Project. Kluane Drilling is dedicated to providing quality drilling services based on technical innovation and human talent and specializes in achieving high drilling production in various drilling environments. Kluane Drilling has proven to be an exceptional contractor for the past two years and Sitka looks forward to continuing to work with them as the Company further advances RC Gold in 2025.
"We are very pleased to have secured the services of Kluane Drilling Ltd. for what will be our largest ever diamond drilling program planned for our RC Gold Project in 2025," said Cor Coe, Director and CEO of Sitka. "Kluane provided Sitka with exceptional drilling services throughout our winter and summer drilling programs at RC Gold in both 2023 and 2024 and we look forward to continuing to develop the project with them in the coming year as we substantially increase the scale and scope of drilling. The 2024 drilling campaign at RC Gold returned excellent assay results from both the Blackjack gold deposit area and the first ever diamond drill holes at the Rhosgobel intrusion, and has identified visible gold in its first two diamond drill holes at the Pukelman intrusion where assay results are still pending (see news releases dated November 25 and October 31, 2024). We are eagerly looking forward to following up on the success we had this past year and, with over $15 million in cash and no debt, the Company is fully funded to complete the planned work program at RC Gold in 2025. We also look forward to receiving the results from the last six diamond drill holes of the 2024 season totalling 2,774 metres that are still pending from RC Gold, with 2 holes from Pukelman and 4 holes from Blackjack."
Stock Option Grant
Sitka Gold Corp. also announces that it has granted an aggregate of 5,500,000 incentive stock options (the "Options") to officers, directors and consultants of the Company. The Options are exercisable at $0.37 per share for a period of three years from the date of grant and are subject to the policies of the TSX Venture Exchange.
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with over $15 million in its treasury and no debt. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut.
In January 2023, the Company announced an NI 43-101 compliant initial inferred Mineral Resource Estimate of 1,340,000 ounces of gold(1) beginning at surface and grading 0.68 g/t at its RC Gold Project in Yukon (see news release dated January 19, 2023).
(1) Simpson, R. January 19, 2023. Clear Creek Property, RC Gold Project, NI 43-101 Technical Report, Dawson Mining District, Yukon Territory
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
The scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
President and Director
For more information contact:
Donald Penner President & Director 778-212-1950 dpenner@sitkagoldcorp.com | or | Cor Coe CEO & Director 604-817-4753 ccoe@sitkagoldcorp.com |
Neither 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.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
(TheNewswire)
November 27th, 2024 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") a Canadian mineral exploration company focused on precious and base metal projects.
Opawica to Present on the Emerging Growth Conference on the 5 th of December 2025
Opawica invites individual and institutional investors as well as advisors and analysts to attend its real-time, interactive presentation on the Emerging Growth Conference.
The next Emerging Growth Conference is presenting on 5 th of December 2025. This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the CEO and President Blake Morgan in real time. Blake Morgan CEO and President will perform a presentation and may subsequently open the floor for questions.
Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event and Blake Morgan CEO will do his best to get through as many of them as possible.
Presentation link: https://goto.webcasts.com/starthere.jsp?ei=1677198&tp_key=9effb22694&sti=opwef
Blake Morgan CEO and President states, "We are thrilled to be presenting at the Emerging Growth Conference live at 4:25 - 4:55pm Eastern standard time on Thursday, December 5, 2024. With Opawica's phase two drilling program closing in, the time is right to bring more eyes to the Company and the opportunity that exists. With high priority drill targets now confirmed, we are excited to tell the story and opportunity at Opawica Exploration Inc. www.opawica.com
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on www.EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference . We will release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner. The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & amp, services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts. All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances as required by applicable law.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Rich Checkan, president and COO of Asset Strategies International, explained to the Investing News Network why the gold price fell after the US election, as well as why he thinks the bull market is nowhere near over.
He sees the yellow metal reaching US$3,800 to US$5,700 per ounce during this cycle.
“Post-election we had a selloff, which I think was wonderful and needed and healthy. These are buying opportunities, this is not the end of the bull market — not even close. None of the factors suggesting that are firing right now,” he said.
Looking at silver, he said the charts show a 45 year cup-and-handle formation, which is highly bullish.
"We've now broken out of that long cup and handle. I'm not a technician, (but) friends who are suggest that given the boundaries of that cup and handle we're looking at about US$90 (per ounce) for silver," he said.
“I think that is very doable, but it’s probably going to be mostly late stage."
Watch the interview above for more from Checkan on gold and 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.
Gold has long been the standard bearer for investors looking to diversify their portfolios, hedge against inflation or access a safe haven in times of trouble. However, it often overshadows other precious metals, including silver, platinum and palladium, that offer similar benefits at differing prices.
Like gold, these metals have low or negative correlations with the stock and bond markets, reducing risk and protecting against volatility. Industrial use in the manufacture of solar panels and within the auto industry is increasing demand for these metals.
Exchange-traded funds (ETFs) and exchange-traded products (ETPs) offer an alternative for those seeking exposure to precious metals. While investing in physical metals has benefits, it also has its share of challenges, including reduced liquidity, storage concerns and premiums from sellers.
In addition to the precious metals ETFs listed on the ASX below, there are seven options for investors looking to invest in gold ETFs, which you can read about in depth in our article here.
Here’s a look at four precious metals ETPs on the ASX that offer exposure to silver, platinum and palladium. The ETPs are listed by assets under management, and data was retrieved from the company's website on November 25, 2024. Read on to learn more about them and whether they could be a fit for your portfolio.
Total assets under management: AU$400.43 million
Unit price: AU$44
This ASX-listed silver ETP offers investors access to the silver price, which has performed strongly in 2024. It is backed by physical silver held by JP Morgan Chase Bank in London. Adding silver to your portfolio can help diversify it during times of volatility, and its industrial demand is rising due to its role in clean energy technologies.
Global X Physical Silver has logged a 13.14 percent return over the past five years, and has a management fee of 0.49 percent.
Total assets under management: AU$60.01 million
Unit price: AU$252
For investors looking for a precious metals ETF, the Global X Physical Precious Metals Basket provides broad exposure to a range of precious metals. The ETP's physical holdings consist of gold, silver, platinum and palladium, which are held by JPMorgan in London.
Over the past five years, this fund has a 7.76 percent return. The ETP has a management fee of 0.44 percent.
Total assets under management: AU$21.75 million
Unit price: AU$137.31
Global X Physical Platinum provides access to platinum held in JP Morgan storage facilities. Due to its value as a precious metal and industrial demand, platinum offers investors an opportunity to diversify portfolios.
Over the past five years, this platinum ETP has seen a 1.75 percent return. It has a management fee of 0.49 percent.
Total assets under management: AU$10.76 million
Unit price: AU$142.52
Global X Physical Palladium offers investors a secure option to purchase holdings in the precious metal backed by a physical product. Palladium gives investors the benefits of a precious metal with the additional upside of industrial demand from its use in the automotive sector.
Like its companion fund, Global X Physical Platinum, this palladium ETP's management fee is 0.49 percent. While the fund's return is negative 10 percent over the last five years, the price of palladium metal over the same time period is down over 40 percent. Since its inception, this fund has had a return of 11.38 percent.
Don't forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Dean Belder, currently hold no direct investment interest in any company mentioned in this article.
Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce the first results from a 12,500 metre drilling program at the La Colorada Mine in Sonora, Mexico. La Colorada is currently producing gold from residual leaching having ceased mining in late 2023. Heliostar is reviewing the potential to restart mining in 2025 and is completing a drill program intended to expand the mineral reserve ahead of this decision.
HIGHLIGHTS:
Heliostar CEO, Charles Funk, commented, "La Colorada has long been a successful mine that helped build El Dorado Gold in 1990s and Argonaut Gold in the 2010s. It has operated profitably over its history and has reserves to support growth. Mining ceased in 2023 when stripping to expand the pit was not completed. This pre-strip is now a capital project and the opportunity to restart is a priority for Heliostar in 2025. Our team recognized that there are significant opportunities to expand shallow mineralization and today's results demonstrate the potential to convert a portion of the previously assumed waste into ore. This can result in lower capital costs and higher cash flow at the beginning of the restart. We value speed as a guiding business principle at Heliostar and have hit the ground running to deliver these results at the mine. I believe La Colorada will help build a third mining company over the next decade!"
Drill Results Summary
Mineralization at La Colorada's Creston Pit is predominantly hosted in three veins: the North, Intermediate and South Veins (Figure 1). These veins trend northeast-southwest to east-west, dip northward and are surrounded by halos of smaller mineralized vein zones. The Creston Pit has historically mined all three of these veins. Drilling prior to Heliostar's acquisition of the mine had successfully focussed on these veins beneath the pit and had expanded the mineral reserve.
Reviewing the expansion potential revealed two opportunities for reserve growth; near surface extensions of known veins where little or no drilling had been completed and upgrading and expanding mineralization beneath the pit. Both opportunities were defined using historical drilling, blasthole data, mining shapes, and the geological model.
High density blast hole data strongly emphasizes the potential for continuation of veins at shallow depth. It defines elevated gold grades continuing to the edge of the pit walls where they remain open for expansion.
Figure 1: Plan view of the Creston Pit showing historic drilling, blast hole samples and new Heliostar drillholes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/231392_cd32a07ff498da60_003full.jpg
Twenty-four holes are reported in this release for a total of 3257.1 metres, principally targeting shallow zones to the east and west of the Creston Pit. The results show narrow to wide, low to high grade oxide gold intercepts. They consistently return intercepts above the average above the mining cutoff of the pit while it was in operation and suggest that areas of waste could be converted to ore in an updated reserve model.
Next Steps
An updated technical report will be completed in January 2025 using the existing resource model at La Colorada. This report will not include the drill results presented in this press release. Results from the current drill program will be incorporated into a resource model and will support a reserve update that will be published with a feasibility study in mid-2025.
Should the drilling define a significant enough volume of gold mineralization, the results have the potential to reduce the capital requirements and improve the economics of the feasibility study. This study will be the basis of a construction decision for the restart of mining from the Creston Pit at La Colorada in mid-2025.
Drilling continues at the mine with three areas of focus. Additional shallow drilling, to follow up these results, is designed to bring production ounces forward in the mine plan. A program of infill and expansion drilling deeper in the pit will attempt to grow the overall gold reserves. A small allocation of drill metres will also test new areas of potential gold mineralization.
The Company anticipates additional drilling results from the current program will be released early next year.
Drilling Results Table
Table 1: Significant Drill Intersections
Hole ID | From | To | Interval | Au | Ag | % True Width | Comment |
24-LCDD-218 | 24.85 | 35.0 | 10.15 | 0.85 | 9.8 | 100 | Intermediate Vein |
24-LCDD-219 | 77.9 | 87.75 | 9.85 | 0.25 | 19.7 | 90 | South Vein |
24-LCDD-220 | 47.0 | 53.0 | 6.0 | 0.37 | 7.2 | 100 | North Vein |
24-LCDD-221 | No significant intervals | ||||||
24-LCDD-222 | 9.9 | 21.75 | 11.85 | 1.71 | 21.6 | 100 | North Vein |
including | 15.55 | 16.8 | 1.25 | 13.1 | 20.5 | 100 | North Vein |
24-LCDD-223 | 74.4 | 76.4 | 2.0 | 0.55 | 38.8 | 100 | South Vein |
24-LCDD-224 | 0.0 | 22.15 | 22.15 | 0.40 | 8.8 | 85 | Intermediate Vein |
24-LCDD-225 | 22.2 | 23.15 | 0.95 | 4.43 | 0.5 | 100 | North Vein |
and | 35.75 | 45.5 | 9.75 | 0.16 | 8.1 | 100 | North Vein |
and | 93.0 | 101.35 | 8.35 | 0.22 | 53.9 | 95 | Intermediate Vein |
24-LCDD-226 | 18.05 | 35.9 | 17.85 | 0.34 | 69.0 | 90 | South Vein |
24-LCDD-227 | 1.1 | 14.8 | 13.7 | 0.25 | 37.5 | 90 | South Vein |
24-LCDD-228 | 27.15 | 39.1 | 11.95 | 0.18 | 35.7 | 90 | South Vein |
and | 46.7 | 51.15 | 4.45 | 0.29 | 43.8 | 90 | South Vein |
24-LCDD-229 | 15.45 | 19.55 | 4.1 | 2.27 | 4.0 | 100 | North Vein |
and | 82.2 | 89.15 | 6.95 | 0.38 | 3.4 | 85 | Intermediate Vein |
24-LCDD-230 | 73.8 | 79.9 | 6.1 | 0.79 | 3.3 | 90 | South Vein |
24-LCDD-231 | 0.0 | 13.0 | 13.0 | 2.22 | 5.1 | 90 | Intermediate Vein |
including | 0.0 | 3.0 | 3.0 | 8.79 | 4.8 | 90 | Intermediate Vein |
and | 36.5 | 41.5 | 5.0 | 18.5 | 20.3 | 90 | Intermediate Vein |
36.5 | 41.5 | 5.0 | 6.62 | 20.3 | 90 | Top-cut to 23 g/t gold | |
and | 67.4 | 73.5 | 6.1 | 0.34 | 3.5 | 100 | South Vein |
and | 96.2 | 133.15 | 36.95 | 1.24 | 5.4 | 85 | South Vein |
24-LCDD-232 | 65.0 | 82.5 | 17.5 | 0.39 | 4.9 | 95 | North Vein |
24-LCDD-233 | 168.3 | 171.55 | 3.25 | 0.26 | 123 | 90 | North Vein |
24-LCDD-234 | 79.5 | 89.3 | 9.8 | 0.36 | 4.8 | 95 | North Vein |
24-LCDD-235 | 82.55 | 86.1 | 3.55 | 0.25 | 8.9 | 95 | North Vein |
and | 169.5 | 184.0 | 14.5 | 1.69 | 5.2 | 100 | North Vein |
including | 174.35 | 175.6 | 1.25 | 16.6 | 13.6 | 100 | North Vein |
24-LCDD-236 | 43.0 | 53.4 | 10.4 | 0.26 | 25.7 | 90 | South Vein |
24-LCDD-237 | 45.9 | 58.25 | 12.35 | 0.20 | 26.4 | 100 | South Vein |
24-LCDD-238 | Assays pending | ||||||
24-LCDD-239 | No significant intervals | ||||||
24-LCDD-240 | Assays pending | ||||||
24-LCDD-241 | 81.25 | 86.0 | 4.75 | 0.49 | 158 | 100 | South Vein |
Figure 2: Longitudinal section view of the western end of the Creston Pit highlighting the lack of previous drilling beyond the pit boundary. Section shows historic drilling, blast hole samples and new Heliostar drillhole results.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/231392_cd32a07ff498da60_004full.jpg
Drilling Coordinates Table
Table 2: Drill Hole Details
Hole ID | Northing | Easting | Elevation | Azimuth | Inclination | Length |
24-LCDD-218 | 3185843 | 543104 | 442.1 | 180 | -40 | 118.20 |
24-LCDD-219 | 3185579 | 542101 | 455.8 | 155 | -47 | 156.45 |
24-LCDD-220 | 3185874 | 543079 | 445.9 | 180 | -40 | 150.75 |
24-LCDD-221 | 3185629 | 542111 | 450.9 | 175 | -50 | 175.50 |
24-LCDD-222 | 3185837 | 543080 | 440.9 | 180 | -40 | 100.00 |
24-LCDD-223 | 3185603 | 542104 | 453.3 | 167 | -48 | 147.20 |
24-LCDD-224 | 3185798 | 543080 | 437.8 | 180 | -40 | 97.40 |
24-LCDD-225 | 3185881 | 543105 | 442.3 | 180 | -40 | 136.45 |
24-LCDD-226 | 3185537 | 542126 | 441.3 | 160 | -55 | 66.70 |
24-LCDD-227 | 3185581 | 542191 | 382.0 | 180 | -55 | 77.30 |
24-LCDD-228 | 3185603 | 542195 | 380.4 | 191 | -57 | 107.20 |
24-LCDD-229 | 3185871 | 543129 | 443.4 | 180 | -45 | 128.70 |
24-LCDD-230 | 3185835 | 543128 | 441.0 | 180 | -45 | 88.45 |
24-LCDD-231 | 3185732 | 542533 | 190.9 | 139 | -45 | 142.70 |
24-LCDD-232 | 3185892 | 543053 | 444.3 | 180 | -40 | 140.85 |
24-LCDD-233 | 3185887 | 542390 | 346.9 | 180 | -49 | 175.25 |
24-LCDD-234 | 3185899 | 543025 | 441.6 | 180 | -49 | 191.50 |
24-LCDD-235 | 3185974 | 542975 | 475.0 | 180 | -42 | 267.40 |
24-LCDD-236 | 3185625 | 542212 | 378.8 | 180 | -50 | 78.80 |
24-LCDD-237 | 3185563 | 542091 | 457.5 | 180 | -45 | 78.70 |
24-LCDD-238 | 3186027 | 542850 | 479.7 | 180 | -51 | 419.85 |
24-LCDD-239 | 3185594 | 542089 | 454.8 | 180 | -45 | 89.35 |
24-LCDD-240 | 3185472 | 542671 | 405.9 | 355 | -40 | 200.35 |
24-LCDD-241 | 3185607 | 542101 | 453.2 | 146 | -40 | 122.40 |
Quality Assurance / Quality Control
Core samples were shipped to ALS Limited in Hermosillo, Sonora, Mexico for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Hermosillo and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish and overlimits were analysed by 30-gram fire assay with gravimetric finish.
Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.
Statement of Qualified Person
Stewart Harris, P.Geo., a Qualified Person, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr Harris is employed as Exploration Manager of the Company.
About Heliostar Metals Ltd.
Heliostar is a gold producer with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045
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 Statement Regarding Forward-Looking Information
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, the Company's plans, prospects and business strategies; the potential update and expansion of mineral reserves; the Company's integration of acquisitions and any anticipated benefits thereof; the completion of a Feasibility Study on the La Colorada Mine in 2025; the potential re-start of mining operations at the Creston Pit;; the release of an updated technical report on the La Colorada Mine; exploration and development plans, including drilling; and expectations for other economic, business, and/or competitive factors.
Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company's mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding exploration and mining activities; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
Newmont (TSX:NGT,NYSE:NEM), the world’s largest gold miner, is continuing its divestiture program through the sale of its Éléonore mine in Québec to Dhilmar, a private UK-based mining firm, for US$795 million in cash.
Located in the Eeyou Istchee James Bay region, Éléonore is a prominent underground gold operation. Since producing its first gold in 2014, the mine has contributed significantly to Newmont’s output, averaging 215,000 ounces annually.
The sale is expected to close in Q1 2025, pending regulatory approvals and other standard closing conditions.
The transaction follows Newmont’s recently announced sale of the Musselwhite gold mine in Ontario to Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) for US$850 million.
Together, these two deals contribute substantially to Newmont’s efforts to reshape its portfolio — the company has now exceeded its initial target of generating US$2 billion through asset sales.
“Proceeds from this transaction will support Newmont’s comprehensive approach to capital allocation, which includes strengthening our investment-grade balance sheet and returning capital to shareholders,” said Tom Palmer, the company's president and CEO, in a Monday (November 25) press release.
“We are pleased to be selling this operation to Dhilmar,” he added. “They have a wealth of experience in gold and copper mining and we believe Dhilmar will be excellent stewards of this asset."
Éléonore, acquired by Newmont as part of its 2019 purchase of Goldcorp, is the second Canadian asset to be sold by Newmont as part of its ongoing divestiture program. The program aims to concentrate Newmont’s resources on its core Tier 1 gold and copper assets — those with long mine lives and the scale to generate sustainable free cash flow.
Dhilmar, the purchaser of Éléonore, is a relatively new player in the global mining industry. Alexander Ramlie, the firm's CEO, is known for his role in the 2016 acquisition of Indonesia's Batu Hijau copper-gold mine.
Newmont’s current approach stems from its broader portfolio optimization strategy, initiated after its acquisition of Newcrest Mining in 2023. The company initially said it was aiming to generate US$2 billion through asset sales to improve its balance sheet, increase shareholder returns and allocate capital efficiently.
Both the Musselwhite and Éléonore sales alone have added US$1.65 billion to Newmont’s divestiture proceeds.
Combined with other completed and planned asset sales, the company has raised approximately US$3.6 billion from its optimization program, significantly surpassing its original target.
In addition to Éléonore and Musselwhite, Newmont has identified other assets for potential sale, including its Porcupine mine and Coffee project in Canada, as well as its Cripple Creek & Victor mine in the US.
This strategy coincides with a broader industry trend of large mining firms divesting smaller, less profitable or more geographically dispersed assets to focus on core projects. Newmont’s approach is consistent with the strategy of prioritizing high-margin, scalable operations that promise consistent cashflow over long periods.
Companies like Dhilmar and Orla are taking advantage of these sales to expand their own portfolios.
Orla’s acquisition of the Musselwhite mine, for example, is expected to more than double its gold production, underscoring the opportunities presented by divestitures for mid-tier and private mining firms.
The gold price, which has remained strong due to global economic uncertainty, continues to play a significant role in shaping these transactions. A stable or rising price increases the attractiveness of gold assets, providing an opportune time for companies like Newmont to sell non-core properties at favorable valuations.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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