WESTERN COPPER AND GOLD ANNOUNCES METALLURGICAL PROGRAM AND ASSOCIATED DRILL RESULTS

WESTERN COPPER AND GOLD ANNOUNCES METALLURGICAL PROGRAM AND ASSOCIATED DRILL RESULTS

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces the launching of a metallurgical testing program (the "Metallurgical Program") for its wholly-owned Casino Copper-Gold Project (" Casino "). Fifteen composite samples were prepared from core acquired in 2023 (the "Drill Program"). Western's Technical and Sustainability Committee, comprised of members from Western, Rio Tinto Canada Inc. and Mitsubishi Materials Corporation, prepared the Drill and Metallurgical Programs.

Drill Program

The 2023 Drill Program consisted of seven holes for 2,244 m ranging from 130 m to 556 m in length. The drill holes were located inside the current pit boundaries and were selected to provide a range of grades, host rocks, and mineralogy for the Metallurgical Program (see Figure 1). The drill holes were also selected to convert indicated resource to measured.

The drill results continue to show the importance of the Core Zone wherein relatively higher grades are encountered as shown by DDH23-05, which intersected 158.5 m of supergene mineralization, in part oxidized, with 0.82% CuEq 1 . Furthermore, DDH23-04, which is approximately one kilometre west of the Core Zone, and DDH23-06, which is at the northwest edge of the Core Zone, intercepted 86.0 m of 0.56% CuEq 1 and 174.0 m of 0.52% CuEq 1 , respectively, in the supergene zone. Table 1 includes all results from the Drill Program.

Metallurgical Program

The fifteen composite samples represent supergene and hypogene mineralization at various grades and will be subjected to comminution and flotation tests to produce a definitive concentrate from each composite. The results from this testing will be used to develop a more detailed geometallurgical model of the deposit. The test program is being carried out at ALS Metallurgy, based in Kamloops, BC , and is being supervised by Western, Rio Tinto Canada Inc., and Mitsubishi Materials Corporation personnel.

Table 1: 2023 drill program results

Zone 3

From

To

Length

Cu (%)

Au (g/t)

Mo (%)

Ag (g/t)

CuEq 1

DDH23-01









CAP

0.0

100.2

100.2

0.02

0.28

0.011

2.3

0.28

Supergene

100.2

244.2

144.0

0.19

0.31

0.008

2.3

0.46

SUS

100.2

244.2

144.0

0.19

0.31

0.008

2.3

0.46

HYP

244.2

400.0

155.8

0.08

0.13

0.002

1.0

0.19

DDH23-02









CAP

3.2

72.2

69.0

0.02

0.25

0.006

1.4

0.22

Supergene

72.2

229.0

156.8

0.21

0.32

0.013

1.9

0.50

SOX

72.2

92.5

20.3

0.11

0.25

0.006

1.5

0.31

SUS

92.5

229.0

136.5

0.22

0.33

0.014

1.9

0.52

HYP

229.0

556.0

327.0

0.17

0.21

0.016

1.2

0.38

DDH23-03









CAP

22.1

25.1

3.0

0.06

0.10

0.002

0.7

0.14

Supergene

25.1

109.5

84.5

0.24

0.22

0.006

1.5

0.43

SOX

25.1

42.6

17.5

0.19

0.19

0.003

1.3

0.34

SUS

42.6

109.5

66.9

0.26

0.23

0.006

1.6

0.45

HYP

109.5

528.0

418.5

0.18

0.23

0.018

2.4

0.43

DDH23-04









CAP

4.7

56.6

51.9

0.04

0.15

0.021

1.9

0.25

Supergene

56.6

142.6

86.0

0.30

0.20

0.027

2.4

0.56

SUS

56.6

142.6

86.0

0.30

0.20

0.027

2.4

0.56

DDH23-05









CAP

5.6

72.0

66.4

0.03

0.21

0.031

1.0

0.31

Supergene

72.0

230.5

158.5

0.37

0.41

0.039

1.6

0.82

SOX

72.0

159.0

87.0

0.39

0.39

0.043

1.5

0.84

SUS

159.0

230.5

71.5

0.35

0.44

0.032

1.9

0.79

DDH23-06









CAP

8.5

20.5

12.0

0.07

0.40

0.010

2.2

0.41

Supergene

20.5

194.5

174.0

0.21

0.36

0.013

1.6

0.52

SOX

20.5

86.5

66.0

0.25

0.53

0.013

2.0

0.69

SUS

86.5

194.5

108.0

0.18

0.25

0.012

1.4

0.41

HYP

194.5

256.8

62.3

0.06

0.07

0.011

0.6

0.16

DDH23-07









CAP

-

-

-

-

-

-

-


Supergene

34.2

77.1

42.9

0.22

0.18

0.006

1.3

0.39

SUS

34.2

77.1

42.9

0.22

0.18

0.006

1.3

0.39

HYP

77.1

130.3

53.2

0.24

0.25

0.014

1.8

0.48

1 CuEq metal prices: $US 3.60/lb Cu, $US 1700/oz Au, $US 14/lb Mo, $US 22/lb Ag with no adjustment for metallurgical recovery.

2 Widths are core length, not true width of mineralized intersection

3 CAP – leached cap, SUS – supergene sulphide, SOX – supergene oxide, HYP - hypogene

Figure 1: Drill hole map showing 2023 drilling (NAD83 / UTM Zone 7N). (CNW Group/Western Copper and Gold Corporation)

Qualified Persons

The geological information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 Standards of Disclosures for Minerals Projects of the Canadian Securities Administrators ("NI 43-101") and supervised, reviewed, and verified by Bill Williams , CPG and Interim Chair of Western, who is a "Qualified Person" as defined by NI 43-101.

QA/QC protocol for DDH22-01, including assurance of chain of custody, has been implemented. Core samples are evenly cut by rock saw, then prepared and analyzed by ALS Geochemistry. Prepared samples are initially run using a four-acid digestion process and conventional multi-element ICP-AES analysis. Additional assaying for total copper and molybdenum is run using a four-acid digestion – AES or AAS method to a 0.001% detection limit. Gold assays are run using 30-gram samples by fire assay with an AA finish to a 0.005 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates.  Check samples are also included and are sent to a secondary lab to test the primary labs' methods/procedures.

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.  For more information, visit www.westerncopperandgold.com .

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

On behalf of the board,

"Sandeep Singh"

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. In making the forward-looking statements herein, the Company has applied certain material assumptions including, but not limited to, the assumption that general business conditions will not change in a materially adverse manner.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

SOURCE western copper and gold corporation

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Western Copper and Gold Announces Upsize in Bought Deal Public Offering to $40 Million

Western Copper and Gold Announces Upsize in Bought Deal Public Offering to $40 Million

western copper and gold corporation ("Western" or the "Company") (TSX: WRN; NYSE American: WRN) is pleased to announce that it has entered into an amended agreement with Eight Capital, on behalf of a syndicate of underwriters (the "Underwriters") under which the Underwriters have agreed to buy from the Company, on a bought deal basis, 21,055,000 common shares of the Company (the "Common Shares") at a price of $1.90 per Common Share for gross proceeds of $40,004,500 (the "Offering"). The Company has granted the Underwriters an over-allotment option to purchase up to an additional 3,158,250 Common Shares, representing 15% of the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time up to 30 days after the closing of the Offering.

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Western Copper and Gold Announces $25 Million Bought Deal Public Offering

Western Copper and Gold Announces $25 Million Bought Deal Public Offering

western copper and gold corporation ("Western" or the "Company") (TSX: WRN; NYSE American: WRN) announces that it has entered into an agreement with Eight Capital, on behalf of a syndicate of underwriters (the "Underwriters") under which the Underwriters have agreed to buy from the Company, on a bought deal basis, 13,158,000 common shares of the Company (the "Common Shares") at a price of $1.90 per Common Share for gross proceeds of $25,000,200 (the "Offering"). The Company has granted the Underwriters an over-allotment option to purchase up to an additional 1,973,700 Common Shares, representing 15% of the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time up to 30 days after the closing of the Offering.

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WESTERN COPPER AND GOLD ANNOUNCES RIO TINTO EXERCISE OF THEIR ANTI DILUTION RIGHT

WESTERN COPPER AND GOLD ANNOUNCES RIO TINTO EXERCISE OF THEIR ANTI DILUTION RIGHT

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces it has completed a private placement with Rio Tinto Canada Inc. ("Rio Tinto") pursuant to Rio Tinto's subscription rights as a result of the Company's recent private placement with the incoming CEO.

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

Rio Tinto acquired 239,528 common shares of the Company at a price of C$1.35 per share for proceeds of C$323,363 , allowing Rio Tinto to maintain its interest of approximately 9.7%.

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Sandeep Singh"

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

SOURCE western copper and gold corporation

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WESTERN COPPER AND GOLD ANNOUNCES COMPLETION OF PRIVATE PLACEMENT WITH SANDEEP SINGH

WESTERN COPPER AND GOLD ANNOUNCES COMPLETION OF PRIVATE PLACEMENT WITH SANDEEP SINGH

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces it has completed its previously announced C$3 million private placement with Sandeep Singh .

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

Mr. Singh acquired 2,222,222 common shares at a price of C$1.35 per share for aggregate gross proceeds of approximately C$3 million .

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Sandeep Singh"

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

SOURCE western copper and gold corporation

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WESTERN COPPER AND GOLD APPOINTS SANDEEP SINGH AS CEO

WESTERN COPPER AND GOLD APPOINTS SANDEEP SINGH AS CEO

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce the appointment of Mr. Sandeep Singh as Chief Executive Officer of the Company, effective immediately.  Mr. Singh will work closely with Dr. Paul West-Sells who will continue in the role of President in connection with the succession process. Further, Mr. Kenneth Williamson has retired from his role as Director and Interim Chairman.  Current board member, Dr. Bill Williams has taken on the role of Interim Chairman as the Company searches for a replacement.

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

As a highly respected mining professional with 20 years of sector expertise, Mr. Singh adds meaningful capital markets and strategic expertise to the Company. He was previously the President and CEO of Osisko Gold Royalties, where he led the successful turnaround of the company. For the fifteen years prior, Mr. Singh was an investment banker focusing on the North American metals and mining sector with BMO Capital Markets, Dundee Securities, and ultimately co-founding Maxit Capital, a leading independent M&A firm. He has advised numerous mining companies on financing alternatives and strategic matters as well as having acted on some of the most complex and value-enhancing M&A transactions in the mining sector. Mr. Singh holds a Bachelor of Mechanical Engineering degree from Concordia University and a Masters of Business Administration degree from Oxford University .

Dr. Bill Williams , Interim Chairman, commented "The Board would like to thank Ken for his dedication, and contributions to the Company. We wish him the best as he focuses his energy on his family and retirement. I'd also like to commend Paul on playing an active role in the succession planning efforts that led to the appointment of Mr. Singh. Paul has been the driving force behind the Casino project since the very beginning and we are hopeful he will continue to play an important role as we build out the management team necessary for the next phases of the Company's growth.

The Board is delighted to have someone of Sandeep's caliber joining the team. Throughout his impressive career, he has shown a dedication to stakeholder value, above all else, and will be aligned with shareholders through a significant personal investment into the Company. With Sandeep's addition, we are strengthening the Company's management capabilities to better unlock the value potential of the Casino project."

Mr. Singh commented "I see tremendous value in Casino as one of very few viable assets in the copper-gold development space. Casino strikes a unique balance of important scale, attractive commodity mix, low jurisdictional risk, and quick payback through the higher-grade core of the deposit. The credible data, underpinning a thorough feasibility study, and remaining upside from additional resources or optimizations to the project provide tangible upside potential. I am excited to be joining the Western Copper and Gold team at a pivotal time for the Company."

The Company also announces a C$3 million private placement (the "Placement") with Mr. Singh for the purchase of 2.22 million common shares at a price of C$1.35 per common share. The closing of the Placement is subject to entering into a customary subscription agreement and the receipt of approvals of the Toronto Stock Exchange and the NYSE American LLC. The shares issued pursuant to the Placement will be subject to a statutory hold period in accordance with applicable Canadian securities laws.

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Dr. Bill Williams "

Dr. Bill Williams
Interim Chairman
western copper and gold corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: strengthening the Company's management capabilities to better unlock the value potential of the Casino project, the remaining upside from additional resources or optimizations to the project and the expected closing of the Placement; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

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SOURCE western copper and gold corporation

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Further to the news release of April 17, 2024, Awalé Resources (TSXV: ARIC) ("Awalé" or "the Company") announces further details and an increase regarding the participation right of its current shareholder. The shareholder has the right to maintain its percentage holding post offering. In order to account for the full ‎Underwritten Offering (including the Underwriter Option), a maximum of approximately 3,989,323 Units (as defined herein) at a price of $0.62 ‎per Unit may be issued to this shareholder for proceeds of approximately ‎‎$2,473,380, which is an increase of 1,021,403 ‎Units from the April 17, 2024 news release.‎ There is no assurance the shareholder will exercise the full participation right.‎ The Units are identical to those announced in the April 17, 2024 news release.

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Couloir Capital Is Pleased to Announce It Has Initiated Research Coverage on Tinka Resources

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Report excerpt: "Tinka's flagship property and current focus is one of the largest zinc deposits held by a junior mining company. The 2024 updated PEA further strengthens Ayawilca's potential to become a top-10 global zinc producer. The mine proposal outlines a 21-year operation processing 2 million tonnes of silver, zinc, and lead per year, with an additional tin component for 15 years at a rate of 0.3 million tonnes per year. The updated PEA highlights robust project economics with an after-tax NPV@8% of US$434 million and after-tax IRR of 25.9%."

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AWALÉ ANNOUNCES C$10 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OF UNITS

AWALÉ ANNOUNCES C$10 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OF UNITS

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Awalé Resources (TSXV: ARIC) ("Awalé" or "the Company") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought-deal private placement basis, 16,130,000 units of the Corporation (the "Units") at a price of C$0.62 per Unit (the "Offering Price") for gross proceeds of C$10,000,600 (the "Underwritten Offering").

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Vizsla Copper Completes Acquisition of Universal Copper

Vizsla Copper Completes Acquisition of Universal Copper

Vizsla Copper Corp. (TSXV: VCU) (" Vizsla Copper ") and Universal Copper Ltd. (TSXV: UNV) (" Universal Copper ") are pleased to announce the completion of the plan of arrangement under the Business Corporations Act ( British Columbia ) (the " Arrangement "), as previously disclosed on February 14, 2024 . Pursuant to the terms of the Arrangement, among other things, (i) Vizsla Copper acquired 100% of the issued and outstanding common shares in the capital of Universal Copper (the " UNV Shares ") in exchange for the issuance of 0.23 common shares in the capital of Vizsla Copper (each whole common share, a " Vizsla Copper Share ") to shareholders of Universal Copper (" Shareholders ") in exchange for each UNV Share (the " Exchange Ratio "), (ii) Universal Copper's outstanding stock options (" Options ") were exchanged for options of Vizsla Copper, and (iii) Universal Copper's outstanding warrants became exercisable to acquire Vizsla Copper Shares, in amounts and at exercise prices adjusted in accordance with the Exchange Ratio.

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Grid Battery Announces Record Date and Effective Date for Spin-Out of AC/DC Battery Shares

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FPX Nickel Announces Expansion to Generative Alliance with JOGMEC

FPX Nickel Announces Expansion to Generative Alliance with JOGMEC

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce an expansion of the Company's Global Generative Alliance (the " Generative Alliance ") program with Japan Organization for Metals and Energy Security (" JOGMEC "). Building on Year One progress and positive momentum achieved to-date, FPX and JOGMEC have agreed to an expanded Year Two budget. The program will remain focused on the global identification and acquisition of high-quality awaruite nickel properties similar in geological character to the Company's flagship Baptiste Nickel Project (" Baptiste ") in central British Columbia.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Highlights

  • Global Generative Alliance budget increased from initially planned $650,000 to $1,500,000 for Year Two
  • Through ongoing evaluations in five international and three Canadian jurisdictions, the Generative Alliance program remains on track to define Designated Projects to be joint ventured by FPX and JOGMEC starting in Year Two
  • The Generative Alliance program has staked approximately 120 km 2 of prospective ground in British Columbia

"We are pleased with our progress during Year One of our Generative Alliance with JOGMEC and look forward to increasing momentum through a significantly expanded Year Two budget," commented Andrew Osterloh , FPX's Senior Vice-President of Projects and Operations. "Our shared vision of realizing new globally significant awaruite nickel deposits remains resolute, and with ongoing evaluations in multiple Canadian and International jurisdictions, we are on track to achieve our shared objective of defining Designated Projects starting in Year Two."

A JOGMEC representative commented: "JOGMEC has decided to increase funding for Year Two activities with a view to identifying significant new awaruite deposits, which could be a globally significant, low-carbon, source of nickel for the electric vehicle battery supply chain toward the realization of a carbon-neutral society."

In April 2023 , FPX and JOGMEC initiated a Generative Alliance to carry out mineral exploration activities for the identification and acquisition of high-quality awaruite nickel targets on a worldwide basis. Under the terms of the agreement, JOGMEC funded 100% of the $650,000 budget in Year One (covering the year ended March 31, 2024 ) and will fund 100% of the first $650,000 budgeted for Year Two (for the year ended March 31, 2025 ).

Building on Year One progress and the positive results of work completed to-date, FPX and JOGMEC have agreed to expand the Year Two budget to a total of $1,500,000 . Under the terms of the agreement for Year Two, after JOGMEC has funded a cumulative total of $1,300,000 , the parties will fund ensuing exploration activities on pro-rata basis (FPX 40% and JOGMEC 60%).

Subject to agreement between FPX and JOGMEC, one or more specific targets identified by the Generative Alliance may be advanced to a second phase to be further developed as a separate designated project (" Designated Project "). Each Designated Project will have its own work program and budget with the objective, of testing and further developing the identified targets. For each Designated Project, JOGMEC and FPX will respectively fund 60% and 40% for approved work programs.

During Year One of the Generative Alliance, FPX's exploration team conducted evaluations and/or sampling programs in five international and three Canadian jurisdictions. With multiple evaluations ongoing, and further prospective opportunities identified, the program is on track to identify Designated Projects in its second year.

Representing the first ground staked under the Generative Alliance, the Company is pleased to announce the acquisition of approximately 120 km 2 of new mineral claims in British Columbia. This staking was based on historic sampling by FPX coupled with updated geological interpretation based on FPX's learnings at Baptiste.

The Company is currently strategizing on additional mineral tenure acquisitions within British Columbia , elsewhere in Canada , and in multiple international jurisdictions across multiple continents; one or more of such land packages may ultimately be selected as a Designated Project under the terms of the Generative Alliance. As and when Designated Projects are confirmed, FPX will provide additional disclosure regarding the location and planned work programs for such Projects.

Keith Patterson , P.Geo., FPX's Vice President, Generative Exploration, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 245 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of the Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/18/c3991.html

News Provided by Canada Newswire via QuoteMedia

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