CRANBROOK, BC / ACCESSWIRE / September 8, 2021 / Eagle Plains Resources (TSXV:EPL) is pleased to announce that option partner Rockridge Resources Ltd. (ROCK) (RRRLF) (RR0) ("Rockridge") has commenced its field program at the Knife Lake Copper Project located in Saskatchewan, Canada (the "Knife Lake Project" or "Property"). The Knife Lake Project, consisting of 81 claims totaling 55,471 hectares (137,069 acres), is an advanced-stage copper, silver, zinc and cobalt exploration property in Saskatchewan host to the Knife Lake Deposit.
Rockridge holds the exclusive option from Eagle Plains to acquire a 100% interest in the Property that covers the Knife Lake Cu-Zn-Ag-Co VMS deposit (details following). The contiguous claims are located approximately 50 km northwest of Sandy Bay, Saskatchewan. A 357kV powerline runs within 16 km of the Knife Lake Deposit area.
Crews have commenced a helicopter-borne electromagnetic (EM) and horizontal magnetic gradiometer geophysical survey utilizing Geotech Ltd.'s VTEM Plus System. The 610 line kilometer survey has been designed to investigate over 30 kilometers of highly prospective VMS stratigraphy, never before surveyed using modern time-domain geophysics. Mineralized drill intersections at the Gilbert Lake target area have proven that VTEM plus is a valuable exploration tool for identifying VMS-style mineralization within prospective stratigraphy on the Property, increasing discovery potential in regional target areas. Combined with surficial geochemical data and geological mapping, results from the current program will help identify and prioritize additional drill targets.
The Knife Lake Deposit is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone is approximately 15m thick and contains copper, silver, zinc, gold and cobalt mineralization which dips 30° to 50° eastward over a known strike-length within Rockridge's claim area of 3,700 metres, and a known average down-dip extension of approximately 300 metres.
The deposit is hosted by felsic to intermediate volcanic and volcaniclastic rocks which have been metamorphosed to upper amphibolite facies. The deposit contains VMS mineralogy which has been significantly modified and partially remobilized during the emplacement of granitic rocks. The mineralization straddles the boundary between two rock units and occurs on both limbs of an interpreted overturned fold.
Rockridge has completed twenty-four holes consisting of 3096 metres of diamond drilling in the 2019 and 2021 winter drilling programs. This represented the first drilling on the property since 2001. Both programs have given Rockridge's technical team valuable insights into the property geology, alteration, and mineralization that will be applied to future regional exploration on the highly prospective and underexplored land package.
Highlights from the drill programs include previously reported hole KF19003 which intersected net-textured to semi-massive sulphide mineralization from 11.2m to 48.8m downhole. This 37.6 metre interval returned 2.03% Cu, 0.19 g/t Au, 9.88 g/t Ag, 0.36% Zn, and 0.01% Co for an estimated 2.42% CuEq. Additionally, previously reported drill hole KF19001 intersected net-textured to fracture-controlled sulphide mineralization from 7.5 metres to 40.6 metres downhole. This 33.1 metre interval returned 1.28% Cu, 0.12 g/t Au, 4.80 g/t Ag, 0.13% Zn, and 0.01% Co for an estimated 1.49% CuEq.
In August 2019, Rockridge announced a maiden NI 43-101 resource estimate for the Knife Lake deposit which consisted of a pit-constrained indicated resource of 3.8 million tonnes at 1.02% CuEq and an inferred resource of 7.9 million tonnes at 0.67% CuEq using a 0.4% CuEq cut-off. For more information please refer to the News Release dated August 14th, 2019 or the NI 43-101 Technical Report on the Mineral Resource Estimate for the Knife Lake Property, Saskatchewan dated September 27, 2019, filed on Sedar.
Knife Lake Option Agreement Details
To earn a 100% interest in the Knife Lake Project, Rockridge has agreed to make a cash payment to Eagle Plains of $150,000 (complete), issue up to 5,550,000 common shares of Rockridge (2,750,000 shares issued to date) and complete $3,250,000 in exploration expenditures ($1,195,000 to date) over four years. Eagle Plains will retain a 2% net smelter royalty ("NSR") on certain claims which comprise the project area. Under the terms of the agreement Rockridge is designated as the Operator of the project.
Qualified Person
Kerry Bates, P. Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and a Geologist employed by TerraLogic Exploration Inc., has reviewed and approved the scientific and technical disclosure in this news release relating to the Knife Lake Project.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, most of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Vancouver, British Columbia–(Newsfile Corp. – September 8, 2021) – Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC PINK: OPWEF) is mobilizing a crew to undertake a Gold Grain In Till Sampling program on all its Newfoundland projects. The company's inaugural gold grain in till sampling program, an important step to determine the number of gold grains in the glacial till in order to help locate the potential source of gold on the properties, will take place on the Chapel Island, Density, Eclipse, Mass, and Lil d'Espoir Lake claims.
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The shape of the gold grains provide insight as to how nearby the source may be. Typically, the higher the concentration of gold grains and the larger the till anomaly, the higher the potential for a gold deposit of potential economic significance. Previous work has identified areas where gold grains in till are associated with the Valentine Lake Shear Zone and the Red Indian Line shear zones which are projected to cross Opawica's claims.
The Opawica 100% owned project areas cover more than 217 square kilometres along and between the Red Indian Line and the Valentine Lake shear zone where the company's prospective holdings extend for more than 50 kilometres along the Central gold belt, a northeast-trending structural zone extending across Newfoundland.
Newfoundland has long been known to have many gold occurrences with relatively little modern exploration. Historical production from the Hope Brook, Nugget Pond and Point Rousse projects have been typical of the province's mines with relatively modest production from high-grade deposits. The largest known gold resource along this corridor occurs at Marathon Gold Corp.'s Valentine Lake property.
Blake Morgan, President and CEO, stated: "I am very pleased to be providing this update on our Newfoundland gold projects. We anticipate an extremely busy next few months for our Opawica exploration team and are excited to continue this momentum through to our drill campaign and beyond."
The company also has a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The company's three 100% owned Quebec properties are on the east-west trending Cadillac-Larder Lake Break zone.
The shares are currently trading at $0.40. For more information, please visit the company's website at www.opawica.com, contact Blake Morgan, President and CEO, at 604-681-3170 or by email at ir@opwaica.com.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
KELOWNA, BC / ACCESSWIRE / September 8, 2021 / Diamcor Mining Inc. (TSXV:DMI), (OTCQB:DMIFF), (FRA:DC3A), ("Diamcor" or, the "Company") announced today that it has completed the installation of the first phase of planned upgrades ahead of schedule at the Company's Krone Endora at Venetia Project (the "Project"). The initial upgrades, originally targeted for completion by the end of September 2021, are aimed at providing the Company with the potential to increase the Project's processing volumes by up to 100%. The upgrades included the installation of a new materials handling step (scrubbing), improvement and expansion of the diamond concentration system, the installation of a new electronic diamond x-ray recovery unit, and various other refinements aimed at lowering water and power consumption on a per ton basis. All items of this first phase of upgrades are now operational and demonstrate their ability to achieve the desired processing volume increases. Final commissioning and minor refinements are expected to be completed over the coming weeks.
Phase One Expansion Highlights:
Log-Washer Installation. The log-washer unit has been installed and replaces the large rotary wet scrubber with an aim to improve the removal of unwanted grit and soils prior to the introduction of gravels to the diamond concentration step. This item has been tested to full capacity and has demonstrated its ability to exceed planned throughput expectations.
Dense Medium System Expansion ("DMS"). Expansion of the Project's DMS has been completed to effectively double throughput. A full recommissioning of the system was also successfully completed to ensure that efficient operation is not compromised at planned higher processing levels.
Water and Power Footprint Reduced. Additional streamlining of the Project's processing plant included the removal of redundant pumps and systems to reduce the water and power footprint. Continued processing efficiencies in this area are seen as an essential element needed to support future upgrades and processing increases at the Project.
Final Recovery Upgrades and X-ray Machine Installation. The addition of a new electronic X-ray diamond recovery machine was completed to support the phase one increases in processing volumes. Historical auditing of processed tailings highlighted a need to address final recovery inefficiencies, and thus the decision to implement upgraded technology in this area. Final commissioning over the next several weeks will ensure that increased volumes in this area are sustainable and diamond recovery is not compromised. Additional X-ray machines will also be added during the next phase of planned upgrades.
Improved Processing Flexibility. The considerably improved capabilities of the upgraded processing plant are also aimed at providing greater flexibility in addressing variations in the mineral deposit and the processing of various gravel types in the corresponding broader areas of the Project.
Support of Planned Phase Two Upgrades. The Company believes these initial upgrades will achieve the desired phase one goals as planned and serve as the building blocks for a planned second larger phase aimed at further enhancing throughput and processing volumes.
"We are very pleased with the efforts of our entire operational team under the direction of our COO, Dr. Kurt Petersen, and their ability to not only achieve these upgrades ahead of schedule, but also deliver the recent strong dollar per carat and gross revenue numbers to allow us to fund these efforts while dealing with the ongoing challenges of the COVID-19 pandemic", stated Mr. Dean Taylor, Diamcor CEO. "Our focus will now shift to demonstrating the benefits of these efforts and their potential to increase rough diamond recoveries and revenue growth moving forward".
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, the OTCQB International under the symbol DMIFF, and on the Frankfurt Exchange under the symbol DC3A. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project's total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade "Alluvial" basal deposit which is covered by a lower-grade upper "Eluvial" deposit. The deposits are proposed to be the result of the direct-shift (in respect to the "Eluvial" deposit) and erosion (in respect to the "Alluvial" deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta ("APEGA"). Mr. Hawkins has reviewed this press release and approved of its contents.
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
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.
TORONTO, ON / ACCESSWIRE / September 8, 2021 / Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") is pleased to provide an update of Bold's Koper Lake Project that is located contiguous to the mining claim hosting the Noront Resources Ltd. ("Noront") Eagles Nest Nickel-Copper-PGE deposit. The Koper Lake Project hosts the Black Horse Chromite Resource that is contiguous to the east end of Noront's Blackbird Chromite deposit. The Black Horse Chromite Resource has a published inferred resource containing 85.9 million tonnes grading 34.5% Cr2O3 (Aubut 2015, see *Note below).
Recently, two competing offers have emerged for control of Noront Resources Ltd.
"Being located as close to the Eagles Nest and Blackbird deposits as we are, it is encouraging that the value of this emerging multi-metals, district scale, camp is coming back into focus. Having been involved from the outset, our team is quite aware of the potential of the Ring of Fire and that it has been extremely undervalued over the past decade," commented Bold CEO David Graham. "With our understanding of the chromite, battery and precious metals known to exist there, we feel the value of our Koper Lake Project and the Ring of Fire camp will only grow in time. The upside is substantial."
The Bold-Fancamp Option Agreement
Bold optioned the Koper Lake claims from Fancamp Exploration Ltd. in 2012 and has the right to earn up to a 100% interest in the claims, subject to certain royalties (see Bold news release dated January 7, 2013).
In turn, the Company optioned a portion of its right to earn up to a 100% interest in the Koper Lake claims to KWG Resources Ltd. ("KWG"). At that time, the property interests were divided into two commodity streams for the purposes of the KWG option. The two streams consist of chromite and "all other metals".
The Bold-KWG Option Agreement
By fulfilling the optional terms of the Bold-Fancamp Option Agreement, KWG has the right to earn up to 80% of Bold's interests in chromite found within the claims, while Bold retains up to a 20% carried interest. Concurrently, KWG has the right to earn up to a 20% working interest in "all other metals" and Bold will earn up to an 80% working interest in "all other metals" (see Bold news release dated March 6, 2018).
At this time, KWG has fulfilled the terms required for Bold's first 50% earn-in interest and as a result KWG has earned a 40% working interest in chromite and Bold retains a 10% carried interest in chromite. Bold holds a 40% working interest in "all other metals" and KWG holds a 10% working interest in "all other metals". KWG is the Operator of the chromite exploration work. Fancamp Exploration Ltd. owns the remaining 50% interest in the claims.
A Dundee Resources Ltd. subsidiary is Bold's co-venturer in its Ring of Fire regional exploration project and holds a one-third interest in Bold's interests within an area of interest that includes the Ring of Fire and is part of an option agreement signed in 2011 (see Bold news release dated April 12, 2011).
*Note: The Black Horse Chromite inferred resource is quoted as 85.9 million tonnes grading 34.5% Cr2O3 as described in the report titled: National Instrument 43-101 Technical Report, Koper Lake Project Chromite Deposit, McFauld's Lake Area, Ontario, Canada, Porcupine Mining Division NTS 43D16, Updated Mineral Resource Estimation Technical Report UTM: Zone 16, 548460m E, 5842511m N, NAD83
Prepared For KWG Resources Inc. and Fancamp Exploration Ltd.
By Alan Aubut P.Geo., December 15, 2015
The technical information found within this news release has been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) for the purposes of NI 43-101.
A full description of Bold's Ring of Fire interests is found on the Company's Ring of Fire Project page at www.boldventuresinc.com.
About Bold Ventures Inc.
The Company explores for Gold and Base Metals in Canada. Bold is exploring properties located within active gold camps of Northern Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
As a result of the current COVID-19 virus concerns, the Company's management and contractors are following public guidelines and taking recommended steps to protect the health and safety of all personnel while carrying out operations. As a result of the COVID-19 pandemic giving rise to local and national anti-virus measures, the scheduling of activities is subject to change. COVID-19 impacts may affect timing and availability of goods and services for the foreseeable future.
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 that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Peabody Energy (BTU), which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Peabody Energy currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if BTU is a promising momentum pick, let's examine some Momentum Style elements to see if this coal mining company holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For BTU, shares are up 12.44% over the past week while the Zacks Coal industry is up 4.37% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 47.25% compares favorably with the industry's 7.83% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Peabody Energy have increased 116.78% over the past quarter, and have gained 612.17% in the last year. In comparison, the S&P 500 has only moved 7.3% and 33.51%, respectively.
Investors should also pay attention to BTU's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. BTU is currently averaging 5,800,306 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with BTU.
Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost BTU's consensus estimate, increasing from -$0.69 to $0.77 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that BTU is a #2 (Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Peabody Energy on your short list.
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TORONTO, September 08, 2021–(BUSINESS WIRE)–Silver Bear Resources Plc ("Silver Bear" or the "Company") (TSX: SBR) announces that, as a result of a review by staff of the Ontario Securities Commission, the Company is issuing the following news release regarding its current Technical Report on the Mangazeisky Silver Project and concurrently with the issuance of this press release is filing certain material contracts previously entered into by the Company.
OSC staff have indicated that the technical report titled "Mangazeisky Silver Project MRE Update and Strategy Re-Assessment, Republic of Sakha (Yakutia), Russian Federation" (the "Technical Report") filed on 30 March 2021 does not comply with certain technical requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Products ("NI 43-101") and Form 43-101F1 Technical Report ("Form 43-101F1"). Specifically, OSC staff identified deficiencies in the Technical Report including the qualification of one Qualified Person and his responsibility for certain sections and items of the Technical Report, certain Form 43-101F1 content requirements, the requirement for a current personal inspection, and the inclusion of mineral inventory not categorized as a mineral resource. No issues were identified by OSC staff with respect to the disclosed Mineral Resources nor with the economic analysis of the Mangazeisky Silver Project.
As a result of the review, the Company will have prepared and will file an amended technical report addressing each of the concerns outlined by OSC staff (the "Amended Technical Report") by not later than October 29, 2021.
The Company will issue a subsequent press release when the Amended Technical Report is filed on the Company's SEDAR profile. Concurrent with the filing of the Amended Technical Report, the Company will also file an amended and restated annual information form for the year ended December 31, 2020 (the "Amended AIF"). The Amended AIF will refer to the Amended Technical Report and correct certain material contract disclosure contained therein. As well, concurrently with the issuance of this news release, Silver Bear is filing certain amendments to its Amended and Restated Facilities Agreement dated as of March 27, 2017 and its Loan agreement with SKA Assets Management Limited, which material contracts should have been filed at an earlier date.
About Silver Bear
Silver Bear (TSX: SBR) is focused on the development of its wholly-owned Mangazeisky Silver Project, covering a licence area of approximately 570 km2 that includes the high-grade Vertikalny deposit (amongst the highest- grade silver deposits in the world), located 400 km north of Yakutsk in the Republic of Sakha within the Russian Federation. As of April 2018, the Group attained first silver production as a result of commissioning activities and on 1 July 2019 the Group achieved full commercial production. Other information relating to Silver Bear is available on SEDAR at www.sedar.com as well as on the Group's website at www.silverbearresources.com.
The rapid spread of the highly contagious Delta variant of COVID-19 in the United States is threatening to derail the economic recovery that was witnessed in the last few months. The downbeat jobs data for August is primarily due to the Delta strain-induced spike in COVID-19 cases. According to most market watchers, this unfortunate scenario caused a subdued job growth scene.
This uncertainty-filled backdrop is more than enough to unsettle even the steadiest investors. However, irrespective of the surroundings, investors want to make handsome profits from their chosen portfolio of stocks. The task is easier said than done. With a universe of stocks flooding the market at any point of time, it is highly likely that individual investors without any proper guidance will end up with a wrong selection of stocks for his/her portfolio, thereby ruining the prospects of reaping gains.
Who Are the Experts & Why?
The “experts” in the field of investing are brokers. They are equipped with detailed knowledge of the space.
Brokers, irrespective of their types (sell-side, buy-side or independent), have at their disposal a lot more information on a company and its potential than individual investors. To attain their objective, they go through minute details of the publicly available financial documents apart from attending company conference calls and other presentations.
Estimate revisions by brokers serve as an important pointer regarding the price of a stock. In fact, a rating upgrade generally leads to stock price appreciation. Similarly, the price of a stock may plummet following a rating downgrade.
Winning Strategy
The above write-up clearly suggests that by following broker actions, one can arrive at a winning portfolio of stocks. Keeping this in mind, we designed a screen to shortlist stocks based on improving analyst recommendation and upward revisions of earnings estimates over the last four weeks.
Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it is included. The price/sales ratio takes care of the company’s top line, making the strategy foolproof.
Screening Criteria
# (Up- Down Rating)/ Total (4 weeks) =Top #75: This gives the list of top 75 companies that have witnessed net upgrades over the last 4 weeks.
% change in Q (1) est. (4 weeks) = Top #10: This gives the top 10 stocks that have witnessed earnings estimate revisions over the past 4 weeks for the upcoming quarter.
To ensure that the strategy is a winning one, covering all bases, we added the following screening parameters:
Price-to-Sales = Bot%10: The lower the ratio the better, companies meeting this criteria are in the bottom 10% of our universe of over 7,700 stocks with respect to this ratio.
Price greater than 5: A stock trading below $5 will not likely create significant interest for most investors.
Average Daily Volume greater than 100,000 shares over the last 20 trading days: Volume has to be significant to ensure that these are easily traded.
Market value ($ mil) = Top #3000: This gives us stocks that are the top 3000 if one judges by market capitalization.
Com/ADR/Canadian= Com: This eliminates the ADR and Canadian stocks.
Here are five of the 10 stocks that made it through the screen:
American Airlines Group AAL: This Fort Worth, TX-based airline currently carries a Zacks Rank #3 (Hold). The gradual increase in air-travel demand (particularly for leisure) is dented by the slowdown in bookings and a spurt in cancellations following the spread of the Delta variant of coronavirus. However, the company’s efforts to control costs amid this scenario of revenue-weakness is encouraging. Its bottom line outshined the Zacks Consensus Estimate in each of the last four quarters, the average being 2.44%.
ArcBest Corporation ARCB provides freight transportation services and solutions. Improving freight conditions in the United States bode well for this presently Zacks Rank #1 (Strong Buy). Solid customer demand and higher market rates are supporting growth at ArcBest. The stock has witnessed the Zacks Consensus Estimate for current-quarter earnings being revised 24.84% upward over the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Best Buy Company BBY is a multinational specialty retailer of consumer electronics, home office products, entertainment software, communication, food preparation, wellness, heath, security, appliances and related services. The company continuously focuses on improving its digital capabilities. Best Buy, currently carrying a Zacks Rank #2 (Buy), is constantly conducting various tests and pilots to become a more customer-centric, digitally-focused, efficient company. Its liquidity position is also sound. Backed by these tailwinds, the stock has seen the Zacks Consensus Estimate for current-year earnings move 14.92% north over the past 60 days.
Peabody Energy BTU: St Louis, MO-based Peabody Energy engages in the coal-mining business and has both thermal and metallurgical operations to manage. Revival in the domestic and international coal markets augurs well for this currently Zacks #2 Ranked stock that outperformed on earnings in three of the last four quarters (lagging the consensus mark in the remaining one).
Abercrombie & Fitch Company ANF, currently sporting a Zacks Rank of 1, operates as a specialty retailer of premium, high-quality casual apparel for men, women, and kids. Abercrombie is making significant progress in expanding its digital and omni-channel capabilities to better engage with consumers.The company’s efforts to manage costs are supporting its bottom line. The Zacks Consensus Estimate for current-year earnings has been raised 33.3% over the past 60 days on the back of these positives.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
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IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
VANCOUVER, British Columbia, Sept. 08, 2021 (GLOBE NEWSWIRE) — BCIT and Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") today announced the installation of more than one thousand antimicrobial copper patches on high-touch surfaces at the British Columbia Institute of Technology (BCIT) in Burnaby, BC, the first installation of its kind at a post-secondary institution in Canada. Funded by Teck through its Copper & Health program, the installation creates a safer environment for students, faculty, and staff due to copper’s naturally antimicrobial properties.
Health Canada-certified Copper Clean™ Antimicrobial Surface Patches have been installed in public areas on surfaces including door handles and railings across five buildings at BCIT. Manufactured by the Canadian company Coptek Copper Covers, the patches are self-sanitizing adhesive copper covers that continuously kill 99% of bacteria left behind on surfaces.
This initiative follows a five-week trial that Teck funded in 2020 in which the antimicrobial properties of copper products were tested on two TransLink buses on high-ridership routes and two SkyTrain cars. Results from that industry-leading trial showed that copper is effective at killing up to 99.9% of bacteria on high-touch transit surfaces.
Copper is the only solid metal touch surface registered by Health Canada and the U.S. Environmental Protection Agency, proven to eliminate up to 99.9% of bacteria left behind on surfaces.
Quotes:
Don Lindsay, President and CEO, Teck – "We are proud to partner with BCIT and commend the institute’s leadership on this initiative which creates a safer environment for students and staff. As part of our Copper & Health program, Teck has been working to expand the use of antimicrobial copper in high-traffic public spaces. This partnership is another important step forward and we will continue working to make our communities safer.”
Kathy Kinloch, President, BCIT – “As we start a new Fall term, we are committed to continuing to provide a safe place to work and learn for all staff, faculty, and students. With the installation of this innovative antimicrobial copper on high touch surfaces across our Burnaby campus, the Copper & Health program builds on a productive and exciting partnership between Teck and BCIT spanning over 35 years.”
Louis Goldberg, Founder, Coptek Copper Covers – “We commend Teck's efforts to both spread awareness and further our mission of making the world a safer place by expanding the use of antimicrobial copper. Through this innovative partnership, BCIT is putting health and safety at the forefront and helping to make our communities safer.”
About Teck’s Copper & Health Program Through its Copper & Health program, Teck is working with partners across Canada and beyond to increase the use of copper-infused surfaces in healthcare and public spaces to reduce the spread of infections. When installed on high touch surfaces, copper is a proven killer of bacteria, reducing the spread of infection and improving health outcomes. There is no commercial benefit to Teck from the increased use of antimicrobial copper as the amount of metal needed is very small; the goal of the program is to improve health and safety for communities.
For more information about the role of antimicrobial copper, the Copper & Health program, and other examples of copper in action, please visit www.coppersaveslives.com.
About Teck As one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal, as well as investments in energy assets. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.
About BCIT For more than 55 years, the British Columbia Institute of Technology (BCIT) has been delivering flexible, relevant, and future-proof education that prepares learners to provide applied solutions to industry challenges – across BC and around the world. With five campuses and nearly 50,000 students enrolled each year, BCIT is one of BC’s largest post-secondary institutes. Through its unique applied education model, BCIT is empowering people, shaping BC, and inspiring global progress. Learn more at www.bcit.ca
San Francisco, California–(Newsfile Corp. – September 8, 2021) – Hagens Berman urges Piedmont Lithium Inc. (NASDAQ: PLL) investors with significant losses to submit your losses now.
Piedmont Lithium Inc. (PLL) Securities Fraud Class Action:
The complaint alleges that Defendants misrepresented and concealed material information concerning Piedmont's progress toward obtaining necessary permits and zoning variances to build a large lithium mine in Gaston County, North Carolina.
Specifically, Defendants failed to disclose that Piedmont: (1) has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits, (2) did not inform relevant government authorities of its actual plans, (3) did not file proper applications with state and local authorities, and (4) did not have "strong local government support."
On July 20, 2021, investors began to learn the truth when Reuters reported that (1) Piedmont had not even applied for the necessary mining permit or zoning variances, (2) five of the seven members of the Gaston County's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected, and (3) the relationship between the company and county officials is increasingly strained.
These events sent the price of Piedmont American Depository Shares sharply lower.
Most recently, on Aug. 6, 2021, Reuters reported the Gaston County Commissioners unanimously approved a 60-day mining moratorium and said the company "cannot be trusted" to protect the health, safety, and welfare of citizens. Reuters also reported an outside adviser to the Commissioners informed them that a mine of this size was never anticipated in the development regulations.
"We're focused on investors' losses and proving Piedmont concealed known building permit and zoning risks posed by the Gaston County mine," said Reed Kathrein, the Hagens Berman partner leading the investigation.
Whistleblowers: Persons with non-public information regarding Piedmont Lithium should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email PLL@hbsslaw.com.
# # #
About Hagens Berman Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
VANCOUVER, British Columbia, Sept. 08, 2021 (GLOBE NEWSWIRE) — Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) announced that on September 7, 2021 the company entered into agreements with two private purchasers providing for the sale of an aggregate of 515,365 common shares (the “Sale Shares”) held by Fortuna in Keon Capital Inc. (formerly Prospero Silver Corp.) (“Keon”), at a purchase price of C$0.10 per common share, for aggregate proceeds of C$51,536.50.
The Sale Shares represent approximately 26.9% of the issued and outstanding common shares of Keon as of September 7, 2021. Upon completion of the transactions contemplated in the sale agreements, Fortuna disposed of all its common shares in Keon and does not hold any common shares or securities in Keon. Fortuna disposed of the Sale Shares for investment purposes and currently has no plan or proposal which relates to or would result in acquiring ownership or control over securities of Keon.
A copy of the early warning report required to be filed by Fortuna with respect to the foregoing matters will be filed and made available under Keon’s profile on SEDAR. A copy of the early warning report may also be obtained by contacting Fortuna’s Corporate Secretary at +1.604.484.4085.
About Fortuna Silver Mines Inc.
Fortuna Silver Mines Inc. is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and an advanced development project in Côte d’Ivoire. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our shareholders and stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website.
ON BEHALF OF THE BOARD
Jorge A. Ganoza President, CEO, and Director Fortuna Silver Mines Inc.
TEL AVIV, Israel, September 08, 2021–(BUSINESS WIRE)–REE Automotive LTD (NASDAQ: "REE"), a leader in e-mobility, today announced that Frost & Sullivan has recognized REE as the 2021 Global EV Platform Company of the Year. The award is based on Frost & Sullivan’s analysis of the global automotive market and its evaluation of REE’s excellence in best practices for innovation and customer impact.
Benny Daniel, vice president at Frost & Sullivan, stated: "REE’s corner module technology and EV platforms continue to excel by offering customers the ability to reshape their EV design and system integration, paving the way for the future of e-mobility and modularity in automobiles. As the automobile industry undergoes rapid transformation, Frost & Sullivan applauds REE's leadership aspiration in delivering the most up-to-date modular EV platforms." Frost & Sullivan determined that "REE’s technology will provide significant operational and functional advantages over the traditional EV fleets industry in the future due to its excellent long-term customer benefits."
"It is an honor to be recognized by Frost & Sullivan as Company of the Year in our industry as we strive to make the future of electric mobility more efficient, reliable, and scalable," said Daniel Barel, Co-Founder and CEO at REE. "We believe our REEcorner™ technology can be the cornerstone of next-generation EVs and autonomous vehicles. Thank you to Frost & Sullivan for acknowledging the work that our team puts into innovating for the future."
Frost & Sullivan’s research and analysis indicates that EV demand has grown by 280% over the last 3 years, reaching approximately 2 million units sold globally. This conclusion comes as increasingly more countries are committing to reduce carbon emissions by 2030 and reach carbon neutrality, or zero emissions, by 2050. REEcorner™ technology is designed to enable OEMs to launch multiple models of EVs quickly as critical vehicle components (including steering, braking, suspension, powertrain, and control) are housed in a single compact module positioned between the chassis and the wheel, resulting in a fully flat, modular EV platform. REEcorner™ technology and ultra-modular EV platforms allow logistics and delivery companies, mobility-as-a-service providers, and new mobility players to design mission-specific EVs "Powered by REE" for virtually any target and application.
REE is an automotive technology leader creating the cornerstone for tomorrow’s zero-emission vehicles. REE’s mission is to empower global mobility companies to build any size or shape of electric or autonomous vehicle – from class 1 through class 6 – for any application and any target market. Our revolutionary, award-winning REEcorner technology packs traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the arch of the wheel, allowing for the industry’s flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Fully scalable and completely modular, REE offers multiple customer benefits including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and global safety standard compliance.
Headquartered in Tel Aviv, Israel, with subsidiaries in the USA, the UK and Germany, REE has a CapEx-light manufacturing model that leverages its Tier 1 partners’ existing production lines. REE’s technology, together with its unique value proposition and commitment to excellence, positions REE to break new ground in e-Mobility.
This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plan," "projects," "believes," "views," "estimates", "future", "allow", "aims", "strives" "endeavors" and similar expressions are used to identify these forward-looking statements. These statements include, among other things, the Company’s statements about the Company’s strategic and business plans, relationships or outlook, the impact of trends on and interest in its business, intellectual property or product and its future results. These forward-looking statements are based on REE’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect REE’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: REE’s ability to commercialize its strategic plan; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that the Company is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the ongoing COVID-19 pandemic and any other worldwide health epidemics or outbreaks that may arise; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in REE’s final prospectus relating to its business combination filed with the U.S. Securities and Exchange Commission (the "SEC") on July 1, 2021 and in subsequent filings with the SEC. While the list of factors discussed above and the list of factors presented in the final prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.
About Frost & Sullivan
Frost & Sullivan is the Growth Pipeline Company™. We power our clients to a future shaped by growth. Our Growth Pipeline as a Service™ provides the CEO and the CEO's growth team with a continuous and rigorous platform of growth opportunities, ensuring long-term success. To achieve positive outcomes, our team leverages over 60 years of experience, coaching organizations of all types and sizes across 6 continents with our proven best practices. To power your Growth Pipeline future, visit Frost & Sullivan at http://www.frost.com.
TEL AVIV, Israel, September 08, 2021–(BUSINESS WIRE)–REE Automotive LTD (NASDAQ: "REE"), a leader in e-mobility, today announced that Frost & Sullivan has recognized REE as the 2021 Global EV Platform Company of the Year. The award is based on Frost & Sullivan’s analysis of the global automotive market and its evaluation of REE’s excellence in best practices for innovation and customer impact.
Benny Daniel, vice president at Frost & Sullivan, stated: "REE’s corner module technology and EV platforms continue to excel by offering customers the ability to reshape their EV design and system integration, paving the way for the future of e-mobility and modularity in automobiles. As the automobile industry undergoes rapid transformation, Frost & Sullivan applauds REE's leadership aspiration in delivering the most up-to-date modular EV platforms." Frost & Sullivan determined that "REE’s technology will provide significant operational and functional advantages over the traditional EV fleets industry in the future due to its excellent long-term customer benefits."
"It is an honor to be recognized by Frost & Sullivan as Company of the Year in our industry as we strive to make the future of electric mobility more efficient, reliable, and scalable," said Daniel Barel, Co-Founder and CEO at REE. "We believe our REEcorner™ technology can be the cornerstone of next-generation EVs and autonomous vehicles. Thank you to Frost & Sullivan for acknowledging the work that our team puts into innovating for the future."
Frost & Sullivan’s research and analysis indicates that EV demand has grown by 280% over the last 3 years, reaching approximately 2 million units sold globally. This conclusion comes as increasingly more countries are committing to reduce carbon emissions by 2030 and reach carbon neutrality, or zero emissions, by 2050. REEcorner™ technology is designed to enable OEMs to launch multiple models of EVs quickly as critical vehicle components (including steering, braking, suspension, powertrain, and control) are housed in a single compact module positioned between the chassis and the wheel, resulting in a fully flat, modular EV platform. REEcorner™ technology and ultra-modular EV platforms allow logistics and delivery companies, mobility-as-a-service providers, and new mobility players to design mission-specific EVs "Powered by REE" for virtually any target and application.
REE is an automotive technology leader creating the cornerstone for tomorrow’s zero-emission vehicles. REE’s mission is to empower global mobility companies to build any size or shape of electric or autonomous vehicle – from class 1 through class 6 – for any application and any target market. Our revolutionary, award-winning REEcorner technology packs traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the arch of the wheel, allowing for the industry’s flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Fully scalable and completely modular, REE offers multiple customer benefits including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and global safety standard compliance.
Headquartered in Tel Aviv, Israel, with subsidiaries in the USA, the UK and Germany, REE has a CapEx-light manufacturing model that leverages its Tier 1 partners’ existing production lines. REE’s technology, together with its unique value proposition and commitment to excellence, positions REE to break new ground in e-Mobility.
This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plan," "projects," "believes," "views," "estimates", "future", "allow", "aims", "strives" "endeavors" and similar expressions are used to identify these forward-looking statements. These statements include, among other things, the Company’s statements about the Company’s strategic and business plans, relationships or outlook, the impact of trends on and interest in its business, intellectual property or product and its future results. These forward-looking statements are based on REE’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect REE’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: REE’s ability to commercialize its strategic plan; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that the Company is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the ongoing COVID-19 pandemic and any other worldwide health epidemics or outbreaks that may arise; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in REE’s final prospectus relating to its business combination filed with the U.S. Securities and Exchange Commission (the "SEC") on July 1, 2021 and in subsequent filings with the SEC. While the list of factors discussed above and the list of factors presented in the final prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.
About Frost & Sullivan
Frost & Sullivan is the Growth Pipeline Company™. We power our clients to a future shaped by growth. Our Growth Pipeline as a Service™ provides the CEO and the CEO's growth team with a continuous and rigorous platform of growth opportunities, ensuring long-term success. To achieve positive outcomes, our team leverages over 60 years of experience, coaching organizations of all types and sizes across 6 continents with our proven best practices. To power your Growth Pipeline future, visit Frost & Sullivan at http://www.frost.com.
Media Keren ShemeshChief Marketing Officer | REE Automotive+972-54-5814333media@ree.auto
Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan
Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan
Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan
Figure 2: 2021 Drill Target areas at the East Preston Uranium Project
Figure 2: 2021 Drill Target areas at the East Preston Uranium Project
Figure 2: 2021 Drill Target areas at the East Preston Uranium Project
Figure 3: 2021 Radiometric survey coverage at East Preston Uranium Project
Figure 3: 2021 Radiometric survey coverage at East Preston Uranium Project
Figure 3: 2021 Radiometric survey coverage at East Preston Uranium Project
Figure 4: Project Location – Western Athabasca Basin, Saskatchewan, Canada
Figure 4: Project Location – Western Athabasca Basin, Saskatchewan, Canada
Figure 4: Project Location – Western Athabasca Basin, Saskatchewan, Canada
VANCOUVER, British Columbia, Sept. 07, 2021 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to report the completion of the airborne radiometric survey and provide an update on preparations for the upcoming 2021-2022 drill program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.
The primary target area for the 2021-2022 program continues to be the conductive corridor from the A-Zone through to the G-Zone (Figures 1 and 2). The selection of this trend is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2021 drill programs. The 2020 HLEM survey completed in December indicates multiple prospective conductors and structural complexity along the eastern edge of this corridor.
Airborne Radiometric Survey Complete
Terralogic Exploration Inc. was contracted to facilitate an airborne radiometric survey over the previously unsurveyed southern portion of the property and conduct field investigations of resulting anomalies. Special Project Inc. (SPI) of Calgary, Alberta conducted the survey using a fixed wing aircraft to complete the airborne radiometric survey, which consisted of 2,514 km of survey lines flown at a low minimum altitude and 50 m line spacing to ensure good data collection and a high survey resolution. The survey commenced on August 4th and was completed by August 14th. Preliminary results have been received (Figure 3) and ground-based follow-up of identified anomalies is currently underway.
An airborne radiometric survey uses a gamma ray scintillometer mounted on an airborne platform to measure and map the natural radiation emitted by the rocks and soil the aircraft is flying over. Gamma radiation occurs from the natural decay of elements such as uranium, thorium, and potassium. Locations that have a higher radiation signature (anomalies) than the normal values for the surrounding area (background) would then be examined by crews on the ground for the potential presence of radioactive bedrock if there is not much glacial till cover, or boulders in the till that could be traced back to a source. Many uranium deposits in the Athabasca Basin, including the nearby Triple-R deposit, have been found by following trails of radioactive boulders in the glacial till back to their source.
“The radiometric survey coverage has further highlighted the G-zone and the Q-zone to the east, reinforcing our decision to focus on these conductive packages at this stage of the project. I’m eager to see what boots on the ground may yet show based on these results,” said VP, Exploration, Trevor Perkins.
Updated Exploration Plans
The planned early fall diamond drilling program to complete approximately 1,000 meters of drilling remaining from the shortened winter 2021 program has been rescheduled after consultation with local communities and contractors. As a result, this meterage will be used to further expand the upcoming extensive winter drill program. This program will now consist of approximately 7,000 meters in 30-35 drill holes. Preparations are set to begin in early December. Target selection is ongoing and will be refined based on the ground-based follow-up of anomalies identified from the recently completed airborne survey.
“We don’t want our activities to negatively impact traditional activities by members of the local communities in the area at this critical time of year. There are number of concerns, including the impact of this summer’s heightened fire conditions on the environment,” said VP Exploration, Trevor Perkins. “In consideration of this, we made the decision in consultation with the community to push the scheduled 1000 meters out 90 days into an expanded winter program, which is due to commence in December. We are looking forward to the upcoming drill campaign,” continued Mr. Perkins.
“The radiometric survey has successfully increased our potential target inventory at East Preston,” said Alex Klenman, President and CEO. “In addition, in a matter of weeks we’ll be starting the largest drill campaign yet at East Preston. We are heading towards discovery, with all previous work programs contributing critical data and creating what is now a very compelling exploration case. With renewed life in the sector, our timing appears to be really good. The next couple of years could be very exciting for both the Company and our shareholders,” continued Mr. Klenman.
Permits and funding are in place to complete all the planned work through the winter of 2022, and consultations and information sessions with local communities will continue throughout.
Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan
Azincourt controls a majority 70% interest in the 25,000+ hectare East Preston project as part of a joint venture agreement with Skyharbour Resources (TSX.V: SYH), and Dixie Gold. Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.
The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity.
The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover – therefore they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its majority controlled joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman” Alex Klenman, President & CEO
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.
This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.
Azincourt Energy Corp. 1430 – 800 West Pender Street Vancouver, BC V6C 2V6 www.azincourtenergy.com
Symbol: AZM.TSX Venture
LONGUEUIL, QC, Sept. 7, 2021 /CNW Telbec/ – Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to report it has released today an updated corporate presentation (Azimut Corporate Update_September 2021). This presentation is available on the Company's website. It provides important insights into the Elmer Property in light of the upcoming 20,000-metre drilling program.
About Azimut
Azimut is a mineral exploration company whose core business centres on target generation and partnership development. The Company is actively advancing the Patwon gold discovery on its 100%-owned flagship Elmer Property in the James Bay region.
The Company uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system), enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline, a strong balance sheet and has 81.7 million shares issued and outstanding. Azimut's competitive edge against exploration risk is based on systematic regional-scale data analysis and multiple concurrently active projects.
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.
TORONTO, Sept. 7, 2021 /CNW/ – The following issues have been halted by IIROC:
Company: Aquila Resources Inc.
TSX Symbol: AQA
All Issues: Yes
Reason: Pending News
Halt Time (ET): 4:17 PM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
TORONTO, Sept. 7, 2021 /CNW/ – The following issues have been halted by IIROC:
Company: Azarga Uranium Corp.
TSX Symbol: AZZ
All Issues: Yes
Reason: Pending News
Halt Time (ET): 8:00 AM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
TORONTO, September 07, 2021–(BUSINESS WIRE)–Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") is pleased to announce that it has entered into a binding letter agreement (the "Letter Agreement") with Gold Resource Corporation ("GORO") (NYSE American: GORO) setting out certain key terms of a proposed acquisition by GORO of all the issued and outstanding common shares of Aquila by way of a plan of arrangement under the Business Corporations Act (Ontario) (the "Transaction").
Pursuant to the Transaction, which is subject to the entering into of a definitive arrangement agreement (the "Arrangement Agreement"), GORO will acquire all the issued and outstanding Aquila shares for 0.0399 of a GORO share per Aquila share (the "Exchange Ratio"). Based upon the 20-day volume-weighted average price ("VWAP") of GORO’s shares on the NYSE American stock exchange on September 3, 2021, being the last trading day prior to the date of the Letter Agreement, the Exchange Ratio represents a 29% premium to the 20-day VWAP of Aquila’s shares on the Toronto Stock Exchange as of such date. The Exchange Ratio represents consideration of C$0.09 per Aquila share (the "Per Share Price"), reflecting a premium of 12.5%, based upon the closing prices of the Aquila shares and the GORO shares on September 3, 2021. The Per Share Price implies an aggregate acquisition price for 100% of the outstanding Aquila shares of approximately C$30.9 million.
Upon closing of the Transaction, the existing GORO and Aquila shareholders will own approximately 85.1% and 14.9%, respectively, of the combined company on a fully diluted basis.
Strategic Rationale for the Transaction
Barry Hildred, Executive Chair, commented, "We believe strongly that this Transaction provides substantial immediate and long-term benefits to Aquila shareholders. The business combination with GORO, a proven operator of a cash flowing mine in the Americas, materially de-risks the financing and development of the Back Forty Project. The Transaction also allows our shareholders to maintain exposure to the value that is created as Back Forty advances towards production."
Guy Le Bel, President & CEO, added, "We share Allen’s vision for the combined company which, as a growth-oriented, multi-jurisdictional, diversified precious and base metal producer, will be well-positioned to create value for all shareholders."
Commenting on the entering into of the Letter Agreement, Allen Palmiere, President and Chief Executive Officer of GORO, said: "This proposed business combination offers an attractive opportunity to the shareholders of both GORO and Aquila. By combining our complementary assets, we will enhance our mineral inventory and add jurisdictional diversification to our project portfolio. The combined company will become a new intermediate gold producer following the commencement of production at Aquila’s Back Forty Project, and its shareholders can look forward to the potential of a company that is expected to benefit from a peer leading growth profile, underpinned by a healthy balance sheet and strong cash flow capable of supporting the development of the Back Forty Project. We look forward to entering into the Arrangement Agreement with Aquila and successfully completing the Transaction."
Further details of the benefits of the Transaction to Aquila and GORO shareholders include the following:
Immediate and Significant Premium to Aquila Shareholders. Based on the 20-day VWAPs of the GORO shares and the Aquila shares, the Transaction offers an immediate and significant premium to Aquila’s shareholders of 29%.
Enhanced Market Presence and Re-Rating Potential. GORO currently benefits from inclusion in the VanEck Junior Gold Miners ETF (the "GDXJ") and from an average daily trading volume of approximately 1 million shares, trailing three months. The Transaction is intended to result in the Back Forty Project being placed into production on a more accelerated basis, funded by cash flow generation, thus elevating the combined company to intermediate producer status. Following the completion of the Transaction, GORO is expected to continue to be included in the GDXJ and to benefit from an enhanced capital markets profile in the United States and Canada, as well as increased trading liquidity and broadened appeal to global index, resource, and generalist investors. This offers the potential for a re-rating to a multiple more in line with other intermediate gold producers.
Enhanced Project and Jurisdictional Diversification. Each of GORO and Aquila is currently a single-asset, single-jurisdiction company. Through the Transaction, GORO and Aquila shareholders will have the opportunity to participate in the ongoing growth of a multi-jurisdictional, diversified precious and base metal producer with exposure to gold, silver, zinc, copper and lead through GORO’s producing Don David Gold Mine in Oaxaca, Mexico and Aquila’s Back Forty Project in Menominee County, Michigan. It is anticipated that Aquila’s previously announced sale of its Bend and Reef exploration properties will be completed prior to the completion of the Transaction.
Growth Profile and Financial Strength of Combined Company. The combined company is expected to benefit from a peer leading growth profile, a robust balance sheet with no debt and cash of US$30.2 million at June 30, 2021, free cash flow generation from its Don David Gold Mine and the synergies that generally accrue from scale in the areas of general and administrative expenses, from less duplication of salaries, wages and other public company expenses, improved concentrate sales and marketing and supply chain efficiencies.
Materially De-Risks the Financing and Development of the Back Forty Project for Aquila Shareholders. Benefitting from the free cash flow generated by the Don David Gold Mine, Aquila shareholders will not be diluted by a near-term equity financing that would otherwise be required to advance the Back Forty Project through the final stages of permitting and engineering. GORO is supportive of Aquila’s project development plans including continuing working towards an optimized Feasibility Study. The combined Company’s position of financial strength is also expected to result in an improved ability to access required additional financing to fund the Back Forty Project’s construction capital expenditures.
All-Stock Transaction Enables Aquila Shareholders to Maintain Upside Exposure. Through their ownership in the combined company, Aquila shareholders will maintain exposure to the value that is expected to be unlocked as the Back Forty Project is advanced towards construction and production. Despite being a proven gold producer, GORO currently trades at only approximately 2.5 times free cash flow from operations. Aquila shareholders will participate in the anticipated re-rating of GORO from a one mine company in Mexico to a two-mine company with jurisdictional diversification.
Experienced Management Team. The combined company will benefit from GORO’s and Aquila’s technical and operational teams’ expertise in polymetallic open pit and underground mines. The GORO executive team has a demonstrated record of success in developing and operating mining projects in the Americas.
Demonstrated Consistent Dividend History. Post-Transaction, GORO intends to continue to pay dividends in accordance with its past practice. GORO has made consistent dividend payments to its investors for more than ten years.
Support for the Transaction from Key Aquila Stakeholders
Aquila’s largest shareholder, Orion Mine Finance ("Orion"), which holds 28.6% of the issued and outstanding Aquila shares, has confirmed to GORO that it is supportive of the Transaction. Subject to its review of the proposed Arrangement Agreement, Orion has indicated its intention to enter into a voting support agreement in favor of the Transaction, on terms to be agreed between GORO and Orion, contemporaneously with the execution of the Arrangement Agreement. The Letter Agreement also provides for the delivery of voting support agreements by each of Aquila’s directors and officers at such time (together with the aforementioned Orion agreement, the "Support Agreements").
Osisko Bermuda Limited, a wholly-owned subsidiary of Osisko Gold Royalties and which is a party to gold and silver stream agreements with Aquila relating to the Back Forty Project, has also confirmed that it considers GORO to be an approved purchaser under those agreements, and that it is supportive of the proposed Transaction.
Board Approvals
The Letter Agreement has been unanimously approved by the boards of directors of both GORO and Aquila. The Aquila board’s approval of the Letter Agreement was based in part on the unanimous recommendation of a special committee of independent directors of Aquila which was appointed to consider the Transaction.
Arrangement Agreement and Transaction Approvals
The Letter Agreement provides for a period of up to 45 days of exclusive negotiations by Aquila with GORO (the "Exclusivity Period") with a view to entering into a mutually acceptable Arrangement Agreement, and provides that the Arrangement Agreement will reflect the Exchange Ratio and other economic terms set out in the Letter Agreement. The Arrangement Agreement will contain customary representations and warranties, covenants, closing conditions and deal protection mechanisms for a transaction of this nature, including a break fee payable by Aquila to GORO equal to 4.0% of the total Transaction value in the event of termination of the Arrangement Agreement under certain circumstances.
The entering into of the Arrangement Agreement is subject to certain conditions set out in the Letter Agreement, including (i) the satisfaction of each of GORO and Aquila with its respective ongoing due diligence investigations, (ii) the receipt by Aquila’s board of directors of an opinion that the consideration proposed to be received by the Aquila shareholders pursuant to the Transaction is fair, from a financial point of view, to the Aquila shareholders, (iii) the approval of the Arrangement Agreement by the boards of directors of each of GORO and Aquila, and (iv) the entering into of the Support Agreements and certain other arrangements with third parties under certain of Aquila’s material contracts on a basis acceptable to GORO. The Letter Agreement also provides that if the Arrangement Agreement is not entered into, Aquila or GORO will reimburse the other party for certain of its expenses incurred in connection with the proposed Transaction depending on the circumstances.
The Transaction will require the approval of at least 66⅔% of the votes cast in person or by proxy at a special meeting of Aquila shareholders. The Transaction is also subject to Ontario court approval and the receipt of applicable regulatory approvals. The parties anticipate that the Aquila special shareholder meeting and the closing of the Transaction will take place in the fourth quarter of 2021. The Transaction will not require the approval of GORO’s shareholders.
Advisors
Goodmans LLP is Aquila’s Canadian legal advisor and Scotiabank is Aquila’s financial advisor.
Conference Call and Live Webcast
Management of GORO will host a conference call and live webcast at 10:00 a.m. Toronto time / 8:00 a.m. Denver time on September 8, 2021 to discuss the Transaction. Please use the following information to access the call and/or webcast:
To join the call via telephone please use one of the following dial-in details: Participant Numbers: Toll Free: 844-602-0380 International: 862-298-0970
Please connect to the conference call at least 10 minutes prior to the start time using one of the connection options listed above.
ABOUT AQUILA Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) is a development‐stage company focused on high grade polymetallic projects in the Upper Midwest, USA. Aquila’s experienced management team is currently advancing pre-construction activities for its flagship 100%‐owned gold and zinc‐rich Back Forty Project in Michigan.
The Back Forty Project is a volcanogenic massive sulfide deposit with open pit and underground potential located along the mineral‐rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. Back Forty contains approximately 1.1 million ounces of gold and 1.2 billion pounds of zinc in the Measured & Indicated Mineral Resource classifications, with additional exploration upside. An optimized Feasibility Study for the Project is underway.
Additional disclosure of Aquila’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.aquilaresources.com or on SEDAR at www.sedar.com.
ABOUT GOLD RESOURCE CORPORATION Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the company’s focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine. For more information, please visit GORO’s website, located at www.goldresourcecorp.com and read the company’s Form 10-K for an understanding of the risk factors associated with its business.
Cautionary statement regarding forward-looking information
This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In particular, this news release contains forward-looking information pertaining to the following: statements regarding the proposed Transaction (including with respect to the satisfaction of conditions to the entering into of the Arrangement Agreement, the terms and conditions of the Arrangement Agreement and Support Agreements, and the receipt of shareholder, court and regulatory approvals for the Transaction); the potential strategic benefits of the Transaction and expectations regarding the combined company (including its growth profile and resource profile, the development of the Back Forty Project, cash flow generation from the Don David Gold Mine, and its market presence and re-rating potential and expectations regarding the payment of dividends); and timing expectations for all of the foregoing. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the ability of the Company and GORO to negotiate the Arrangement Agreement and the satisfaction of the conditions precedent to the execution of the Arrangement Agreement (including the satisfaction of each of GORO and Aquila with their respective due diligence investigations, the approval of the Arrangement Agreement by the boards of directors of each of GORO and Aquila, and the execution of the Support Agreements); the satisfaction of all conditions precedent to closing the Transaction (including the obtaining of all shareholder, court, and regulatory approvals); inherent risks of mining exploration, development and production operations; economic factors affecting the Company and/or GORO; the integration of the businesses of the Company and GORO; political conditions and the regulatory environment in the United States and Mexico; and the scope, duration, and impact of the COVID-19 pandemic on the Company and GORO as well as the scope, duration and impact of government action aimed at mitigating the pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.
Great Panther Mining Limited Logo (CNW Group/Great Panther Mining Limited)
Drilling on the TAP C open pit further defines continuity of mineralization for resource expansion and regional exploration identifies gold trend within 20 km radius of Tucano mine
TSX: GPR | NYSE American: GPL
VANCOUVER, BC, Sept. 7, 2021 /CNW/ – Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) ("Great Panther" or the "Company"), a growing gold and silver producer focused on the Americas, announces results from Phase 2 of the 2021 resource replacement and expansion drilling program and regional exploration results from the Company's wholly-owned Tucano Gold Mine ("Tucano") in Brazil. Tucano comprises a 7-kilometre-long trend of gold deposits hosted within a large tenement package controlled by Great Panther covering approximately 2,000 km2 of the Vila Nova Greenstone Belt.
"One of the primary objectives of our exploration program at Tucano this year is to extend the open pit mine life, and I am pleased to report that our intention is to bring TAP C back into production in 2022 as the drilling has demonstrated continuity of mineralization at depth below the current pit floor," commented Rob Henderson, Great Panther's President & CEO.
"The other main objectives at Tucano this year include extending the high-grade zones underground and defining the regional potential of our district-scale land package," continued Mr. Henderson. "Initial results from our regional exploration program are very promising as they confirm the potential surrounding Tucano and our ability to generate new quality targets through focused, systematic exploration. Drilling of new targets is planned for the fourth quarter of this year. Our immediate focus is making new discoveries within a 20 km radius of the mine. However, we believe that the greenstone belt has significant exploration upside, and our long-term objective is to make a major new discovery within our extensive tenement package."
Resource Replacement and Expansion Drilling
The Company continues to focus on resource definition along the 7-kilometer-long mine sequence. Last year the focus was on the Taperaba ("TAP AB") pit where the Company successfully upgraded inferred resources to Measured & Indicated ("M&I") status and, as a result, significantly increased the open pit reserves at TAP AB. This year the focus has been on TAP C, situated between the TAP AB and Urucum pits that are the current focus of production at Tucano. The definition of new resources at TAP C will give Tucano additional operational flexibility with new production fronts from shallow pits close to the plant (see Figure 1).
Highlights and significant intersections from drilling at TAP C are summarized below and are expected to be applied to an updated Mineral Reserve and Mineral Resource ("MRMR") estimation for Tucano later this year.
Highlights from the 2021 TAP C drill program1 2:
21TACDD001: 4m @ 13.7g/t from 130m
21TACDD002: 6.3m @ 4.0g/t from 145.7m
21TACDD003: 11.95m @ 1.4g/t from 104.25m
21TACDD023: 8.55m @ 4.9g/t from 25.95m
21TACDD028: 12.7m @ 2.9g/t from 186.3m
21TACDD029: 24.6m @ 1.6g/t from 100m
21TACDD029: 38m @ 2.5g/t from 167m
21TACDD030: 9m @ 7.8g/t from 45m
_______________________
1 Widths are drillhole intercept widths.
2 Drill holes 21TACDD001-21TACDD007 announced in a news release dated April 7, 2021. Note: Minor differences reflect a change in open pit cut-off being employed to 0.3 g/t gold compared to 0.4 g/t in April.
The drilling focused on defining M&I resources down to 70 m below the pit surface. Wireframes for the mineralization have been prepared and block models are being generated for resource estimation and categorization.
Table 1: Significant gold assay results for 2021 TAP C drilling
This year the Company initiated an extensive regional soil sampling and mapping program over high priority exploration corridors defined last year. The regional exploration program ties into the current resource definition drilling along the mine sequence by focusing on the identification and fast-tracking of gold targets within a 20 km radius of the mine that may be exploited by open pit mining and processed by the Tucano plant. The Company's goal is to define new resources that may be mined to complement the current ore reserves along the mine sequence. This ambitious program includes over 500-line-kilometres of soil sampling followed by drill testing starting in the fourth quarter of 2021 ("Q4 2021").
Multi-element soil geochemistry received for the first regional grid, Mutum, indicates a continuous 3.8-kilometre-long elevated gold trend. The structural and lithologic setting together with indications of intrusive activity, interpreted from the multi-element geochemistry and aerogeophysics, increase the priority of this trend. They reflect positive features commonly found associated with gold deposits. The Mutum trend is the first of eight high-priority exploration corridors being evaluated with multi-element soil geochemistry this year and is situated just 15 km northeast of the Tucano mine (see Figure 2). The gold trend is being mapped in detail and will be covered by ground magnetics and prioritized for drilling in Q4 2021.
To date, in addition to Mutum, the following prospective, regional exploration corridors have been covered by regional multi-element soil sampling grids: Mutum-Joseph, Lona Amarela, Eastern Mine Sequence, Janaina, Timbo and Jornal. Sampling has been initiated on the Village Antonio grid. Sample results from these grids will be received over the next four to six months. Results will be integrated and anomalies prioritized for inclusion in the regional fast-track drilling budget for 2022.
Technical Disclosure and Qualified Persons
On behalf of Great Panther, Nicholas Winer, Fellow AusIMM and Vice President of Exploration supervised the preparation of data for inclusion in this news release and approved this news release. Mr. Winer is a non-independent Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Mr. Winer reviewed the Tucano QA/QC program. The QA/QC program for drill core includes the regular insertion of blanks, standards, and duplicates into sample batches, diligent monitoring of assay results, and necessary remedial actions. Resource drilling samples are first assayed at the Tucano onsite laboratory. All intervals with anomalous gold are submitted and re-analyzed by the Certified SGS Geosol laboratory in Belo Horizonte by 50 g fire-assay. All SGS Geosol assays, after diligent monitoring of QA/QC and necessary remedial actions, supersede the Tucano assay results in the database for MRMR grade estimation. QA/QC monitoring of the SGS laboratory also includes inter-laboratory checks on five percent of samples with the Certified, ALS laboratory in Belo Horizonte. In addition to the data verification methodology described above, personal inspections of the Tucano property have also been completed.
ABOUT GREAT PANTHER
Great Panther is a growing gold and silver producer focused on the Americas. The Company owns a diversified portfolio of assets in Brazil, Mexico and Peru that includes three operating gold and silver mines, four exploration projects, and an advanced development project. Great Panther is actively exploring large land packages in highly prospective districts and is pursuing acquisition opportunities to complement its existing portfolio. Great Panther trades on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE American under the symbol GPL.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of Canadian securities laws (together, "forward-looking statements"). Such forward-looking statements may include, but are not limited to, statements regarding: (i) continuity of mineralization of the TAP C deposit to approximately 50 m – 70 m below the current pit floor; (ii) initial results of the re-modelling of the TAP C deposit which define the structural framework that has affected the mineralization and explain mineralization discontinuities; (iii) plans to complete infill drilling of TAP C to target definition of an Inferred and Indicated Mineral Resource; (iv) belief that the interpretation of results of the drilling programs at TAP C are indicative and may be extended over all of the TAP C deposits; (v) confidence in and belief that the Company will be able to include TAP C in the next MRMR statement for Tucano providing additional confidence in the geometry of the ore body is determined; and (vi) confidence that the results of an economic evaluation of the results from TAP C will permit mining to be initiated
These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: continued operations and exploration work, including plans to complete infill drilling at Tucano, in 2021 occur without significant interruption due to COVID-19 or any other reason; the accuracy of the Company's geological modeling at Tucano and the assumptions upon which they are based, including initial results of the re-modelling of the TAP C deposit which define the structural framework that has affected the mineralization and explain mineralization discontinuities; the results of the phase 1 and phase 2 drilling programs at TAP C are indicative and may be extended over all of the TAP C deposits; planned infill drilling will provide confidence sufficient to define Mineral Resource estimates for the TAP C deposits; geometry of the orebody; ore grades and recoveries; prices for gold, silver, and base metals remaining as estimated; currency exchange rates remaining as estimated; prices for energy inputs, labour, materials, supplies and services (including transportation); all necessary permits, licenses and regulatory approvals for the Company's operations and exploration work are received in a timely manner on favourable terms, Tucano will be able to continue to use cyanide in its operations; the Company will not be required to further impair Tucano as the current open pit mineral reserves are depleted through mining; the ability to procure equipment and operating supplies without interruption and that there are no material unanticipated variations in the cost of energy or supplies; operations not being disrupted by issues such as pit-wall failures or instability, mechanical failures, labour disturbances and workforce shortages, illegal occupations or mining, seismic events, and adverse weather conditions; and the Company's ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to: the impact of COVID-19 on the Company's ability to operate and conduct exploration work, including drilling plans, as anticipated, and the risk of an unplanned partial or full shutdown of the Company's mines and processing plants, whether voluntary or imposed, which would adversely impact the Company's revenues, financial condition and ability to meet its production and cost guidance and fund its capital programs and repay its indebtedness; the inherent risk that estimates of Mineral Reserves and Resources may not be accurate and accordingly that mine production will not be as estimated or predicted; planned exploration activities, including plans for further infill drilling at TAP C, may not result in the discovery of new Mineral Resources/definition of Mineral Resources and readers are cautioned that Mineral Resources that are not Mineral Reserves have no defined economic viability; there is no certainty that the Company will be able to define a mineral resource for the TAP C deposits and the Company is not treating the AMC historical estimate as a current mineral resource estimate; open pit mining operations at Tucano have a limited established mine life and the Company may not be able to extend the mine life for Tucano open pit operations beyond 2023 as anticipated; gold, silver and base metal prices may decline or may be less than forecasted; fluctuations in currency exchange rates (including the U.S. dollar to Brazilian real exchange rate) may increase costs of operations; operational and physical risks inherent in mining operations (including pit wall collapses, tailings storage facility failures, environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather) may result in unforeseen costs, shut downs, delays in production and drilling and exposure to liability; potential political and social risks involving Great Panther's operations in a foreign jurisdiction; the potential for unexpected costs and expenses or overruns; shortages in the ability to procure equipment and operating supplies without interruption; employee and contractor relations; relationships with, and claims by, local communities; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner on favourable terms; changes in laws, regulations and government practices in the jurisdictions in which the Company operates; legal restrictions related to mining; diminishing quantities or grades of mineral reserves as properties are mined operating or technical difficulties in mineral exploration, changes in project parameters as plans continue to be refined; the Company's inability to meet its production forecasts or to generate the anticipated cash flows from operations could result in the Company's inability to meet its scheduled debt payments when due or to meet financial covenants to which the Company is subject or to fund its exploration programs as planned; ability to maintain and renew agreements with local communities to support continued operations; there is no assurance that the Company will be able to identify or complete acquisition opportunities of, if completed, that such acquisitions will be accretive to the Company; and other risks and uncertainties, including those described in respect of Great Panther, in its most recent annual information form and material change reports filed with the Canadian Securities Administrators available at www.sedar.com and reports on Form 40-F and Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov.
There is no assurance that these forward-looking statements will prove accurate or that actual results will not vary materially from these forward-looking statements. 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 as anticipated, estimated, described, or intended. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward-looking statements and information are designed to help readers understand management's current views of our near- and longer-term prospects and may not be appropriate for other purposes. The Company does not intend, nor does it assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
CAUTIONARY NOTE TO UNITED STATES INVESTORS CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED RESOURCES
The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada , which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this news release are defined in accordance with NI 43-101 under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards for Mineral Resources and Mineral Reserves 2014 ("CIM Definition Standards").
The United States Securities and Exchange Commission (the "SEC") has adopted amendments effective February 25, 2019 (the "SEC Modernization Rules") to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934. The SEC Modernization Rules have replaced SEC Industry Guide 7, which have been rescinded.
As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "Measured mineral resources", "Indicated Mineral Resources" and "Inferred Mineral Resources", which are defined in substantially similar terms to the corresponding CIM Definition Standards. In addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral Reserves" to be substantially similar to the corresponding CIM Definition Standards.
United States investors are cautioned that while the foregoing terms are "substantially similar" to corresponding definitions under the CIM Definition Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance any Mineral Resources that the Company may report as "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules.
United States investors are also cautioned that while the SEC will now recognize "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources", investors should not assume that any part or all of the mineral deposits in these categories would ever be converted into a higher category of Mineral Resources or into Mineral Reserves. Mineralization described by these terms has a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Accordingly, investors are cautioned not to assume that any "Measured Mineral Resources", "Indicated Mineral Resources", or "Inferred Mineral Resources" that the Company reports are or will be economically or legally mineable.
Further, "Inferred Mineral Resources" have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, United States investors are also cautioned not to assume that all or any part of the Inferred resources exist. In accordance with Canadian securities laws, estimates of "Inferred Mineral Resources" cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.
In addition, disclosure of "contained ounces" is permitted disclosure under Canadian regulations; however, the SEC has historically only permitted issuers to report mineralization as in place tonnage and grade without reference to unit measures.
Figure 1: Tap C location and current operating areas of TAP AB and Urucum with Tucano plant. (CNW Group/Great Panther Mining Limited)
NEW YORK, September 07, 2021–(BUSINESS WIRE)–WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Piedmont Lithium Inc. f/k/a/ Piedmont Lithium Limited (NASDAQ: PLL, PLLL) between March 16, 2018 and July 19, 2021, inclusive (the "Class Period"), of the important September 21, 2021 lead plaintiff deadline in the securities class action commenced by the firm.
SO WHAT: If you purchased Piedmont securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Piedmont class action, go to http://www.rosenlegal.com/cases-register-2124.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 21, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont, and its lithium business, does not have "strong local government support"; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
While IMPACT Silver Corp. (CVE:IPT) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 21% in the last quarter. But don't let that distract from the very nice return generated over three years. After all, the share price is up a market-beating 90% in that time.
Since it's been a strong week for IMPACT Silver shareholders, let's have a look at trend of the longer term fundamentals.
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
IMPACT Silver became profitable within the last three years. So we would expect a higher share price over the period.
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
IMPACT Silver shareholders are down 43% for the year, but the market itself is up 35%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 7% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. It's always interesting to track share price performance over the longer term. But to understand IMPACT Silver better, we need to consider many other factors. For example, we've discovered 3 warning signs for IMPACT Silver that you should be aware of before investing here.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA exchanges.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
TORONTO, Sept. 07, 2021 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) is pleased to announce the appointment of Rachel Goldman to the Board of Directors (the “Board”).
Ms. Goldman brings 20 years of experience in institutional sales, mining company financings and corporate transactions during her career while at several Canadian brokerage firms where she developed an extensive list of investor and mining company relationships. In February 2020, she was appointed to the role of Chief Executive Officer and Director of Paramount Gold Nevada Corp (NYSE American: PZG).
Chair of the Board, Paul Martin, said, “We are extremely pleased to have Ms. Goldman join our Board. Her appointment expands the skills matrix of the overall Board bringing additional strength in the areas of finance, corporate strategy and marketing.”
The Company also announces that Dr. Robert Dodds has resigned from the Board of Directors. Dr. Dodds’ history with the Company dates back to his time as President & Chief Executive Officer and Director of Augustine Ventures Inc., which merged with the Company in February 2017.
“On behalf of the entire Board, we would like to thank Dr. Dodds for his years of service to the Company and look forward to his continued support,” said Chair of the Board Paul Martin.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".
The Wawa Gold Project is in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,800 hectares in size.
The Company’s Chair of the Board is Paul Martin, the former CEO of Detour Gold. The Board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining and Detour Gold. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.
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.
This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
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, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Shareholders are encouraged to continue voting on the GOLD proxy FOR Fancamp’s director nominees.
If you have mistakenly voted on Mr. Smith’s green proxy or want to change your vote, you may do so by voting on the GOLD proxy. This will revoke and replace the previous vote.
VANCOUVER, British Columbia, September 07, 2021–(BUSINESS WIRE)–Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) is pleased to announce that on Friday, September 3, 2021, the Supreme Court (British Columbia) ("SCBC") dismissed all of Mr. Peter H. Smith’s remaining applications in relation to the Corporation’s annual general meeting ("AGM"). The SCBC had previously dismissed Mr. Smith’s application for the AGM to be held on July 26, 2021.
As to Mr. Smith’s remaining applications, the SCBC:
Dismissed the application to replace Mr. Mark Billings with an independent chair because Mr. Smith had failed to show any improper act or omission by the Board of Directors or Mr. Billings;
Ruled that all votes collected through Broadridge QuickVote will be counted and that cancelling those votes – as Mr. Smith had requested – could disenfranchise those shareholders; and
Dismissed the application that Fancamp be ordered not to close the ScoZinc transaction until any applications arising from the conduct of the meeting are resolved on the ground that Mr. Smith was required to show that there was a serious issue to be tried and had failed to do so;
(collectively, the "Dismissed Applications").
AGM Date
Fancamp is committed to holding the AGM as soon as possible and will advise shareholders of a new date in due course. The AGM, which was originally scheduled for June 29, 2021, was postponed to accommodate the court application. After stalling for a month, Mr. Smith, just two weeks before the meeting, filed a last-minute petition, making a fair hearing of the petition impossible. Fancamp wanted to ensure that, in spite Mr. Smith’s tactical games, there was a fair court hearing and postponed the AGM.
In addition, the forensic investigation with KPMG into Mr. Smith’s past conduct is progressing. However, given Mr. Smith’s continued refusal to provide documentation (despite repeated demands) and history of poor or non-existent record keeping during his time as CEO, more time is required to complete the investigation. The Corporation looks forward to providing full updates as soon as possible.
VOTE YOUR GOLD PROXY TODAY
Shareholders are encouraged to continue voting on the GOLD proxy FOR Fancamp’s director nominees.
If you have mistakenly voted on Mr. Smith’s green proxy or want to change your vote, you may do so by voting on the GOLD proxy. This will revoke and replace the previous vote.
If you have any questions or need help voting, please contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com.
Advisors
Lavery, de Billy, L.L.P. and Goodmans LLP are serving as legal advisor to Fancamp. Harris & Company LLP is serving as litigation counsel to Fancamp. Kingsdale Advisors is acting as strategic shareholder and communications advisor to Fancamp. Koffman Kalef LLP is serving as legal advisor to the Special Committee.
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. It has recently announced the acquisition of ScoZinc, a Canadian exploration and mining corporation that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia, as well as several prospective exploration licenses in surrounding regions. The Corporation is managed by a new and focused leadership team with decades of mining, exploration and complementary technology experience.
Forward-looking Statements
This news release includes certain statements which are not comprised of historical facts and that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements include estimates and statements that describe Fancamp’s future plans, objectives or goals, including words to the effect that Fancamp or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "foresees" or "plan". Since forward-looking statements are based on multiple factors, assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Fancamp, Fancamp provides no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, information and statements relating to the Corporation’s annual general meeting, and objectives, goals or future plans. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fancamp’s expectations include, among others, Mr. Peter H. Smith's ability to exhaust all means of appeal with respect to the Dismissed Applications, uncertainties relating to the development of the relevant mining properties and risks relating to the terms and duration of any government orders suspending or limiting operations that are applicable to Fancamp or the relevant mining properties; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses, political, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of Fancamp to raise capital or secure necessary financing in the future, as well as factors discussed in the section entitled "Risks and Uncertainties" in Fancamp’s management’s discussion and analysis of Fancamp’s financial statements for the period ended January 31, 2021. Although Fancamp 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 as anticipated, estimated or intended. Fancamp considers its assumptions to be reasonable based on information currently available, but 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.
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
Media Contact Hyunjoo Kim Director, Communication, Marketing & Digital Strategy Kingsdale Advisors Phone: 416-867-2357 Cell: 416-899-6463 Email: hkim@kingsdaleadvisors.com
Results Pending from Two Additional Prospects on the Tarabala Trend
Figure 1:
Drilling locations and significant intercepts from recent drilling (red text) and earlier drilling (white text).
Drilling locations and significant intercepts from recent drilling (red text) and earlier drilling (white text).
Figure 2:
Property map showing the location of prospects mentioned in this release.
Property map showing the location of prospects mentioned in this release.
TORONTO, Sept. 07, 2021 (GLOBE NEWSWIRE) — Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) reports the results of the latest drilling at the Massala West prospect on the Tarabala Trend and provides an update of planned drilled on the Company’s Sikasso Property in Southern Mali (Figure 2).
Highlights
Latest AC drilling at Massala West confirms gold mineralization over 3 km along the Tarabala Trend (“Tarabala”)
Highest-grade drill interval: 1 m @ 12.94 g/t Au (from 25 m; SAAC221)
Widest mineralized zone: 9 m @ 1.01 g/t Au (from 22 m; SAAC256)
Initial deeper RC drilling on the Central Zone at Massala West indicates the mineralization continues to depth
Highest-grade drill interval: 3 m @ 1.56 g/t Au (from 46 m; SAAC221)
Widest mineralized zone: 5 m @ 0.59 g/t Au (from 45 m; SARC008)
Preparing to initiate approximately 4,000 m of deeper RC drilling (>100 m) at the Massala West and Tarabala prospects (Figure 1) when the rains stop in late October
1,400 m of air core (AC) drilling is also planned at the new Tarabala South target
Drilling results are pending from the Southern and Extension zones at Massala West, and the newly identified Dalaba prospect.
Compass CEO, Larry Phillips, said, “Our latest drilling on the Tarabala Trend has uncovered shallow gold mineralization with promising grades over 3 km at Massala West. The higher-grade and wide mineralization revealed during preliminary RC drilling on the Central Zone indicates the mineralization may be enhanced at depth, so we’re preparing to conduct additional deeper drilling to test the full depth potential of the gold-bearing veins. We are also awaiting the assay results of previous drilling that could extend the mineralization northwards by 500 m, as well as for the results from drilling a fault 750 m west at Dalaba that is coincident with anomalous soil geochemistry.”
He added, “As we continue towards our goal of discovering a gold deposit with the commercial size and grade potential to become a mine, these latest near surface results are very encouraging. With these in hand, our Malian exploration team will be ready to begin preparing the drilling pads for our next phase of drilling at the Massala West and Tarabala prospects as soon as ground conditions improve in October. An additional 1,400 m program of shallow AC drilling is also planned over the Tarabala South prospect, located 500 m south of our Tarabala prospect.”
Massala West Drilling Results
Previously reported drilling results from Massala West (see Compass news releases dated March 16, and May 18, 2021) indicated a 1.8 km zone of shallow mineralization associated with the north-south trending Tarabala fault. The initial drilling was on 200 m fence spacings and the results were reassuring: 24 m @ 2.35 g/t Au (SAAC123); and 21 m @ 0.86 g/t Au (from 1 m; SAAC189) including 6 m @ 1.67 g/t Au.
The current drilling program comprised 68 AC holes (4,042 m) that were designed to infill the known mineralization, extending the structure 1.4 km to the north, and to test a splay fault 750 m to the west at Dalaba (Figure 1). The assay results from 23-holes (1,349 m) at Dalaba and the northern extension are pending. Highlights of the latest drilling were 9 m @ 1.01 g/t Au (from 22 m), 8 m @ 0.71 g/t Au (from 38 m) including 1 m @ 3.16 g/t Au, and 1 m @ 12.94 g/t Au (from 25 m). All fences intercepted the target structure and contained varying degrees of gold mineralization at shallow levels (Table 1).
A 10-hole (1,056 m) RC program was also planned to drill a series of deep holes (100 – 160 m) to test the gold-bearing structure at depth. Owing to the higher-than-expected water table, the holes were only drilled to shallow depths (77 – 125 m) and so may not have tested the primary mineralization. Assay results have only been received for five holes (SARC006-SAARC10) from the Central Zone. The widest interval was a low-grade zone of 26 m @0.32 g/t Au (from 24 m; SARC008) containing six discrete higher-grade zones, with the best interval being 5 m @ 0.59 g/t. Drill hole SARC010 was drilled two hundred metres to the south and intercepted 23 m @ 0.44 g/t Au (from 43 m), and comprised three discrete mineralized intervals, with the best interval containing 6 m @ 1.02 g/t Au (from 46 m). Both intercepts are still considered shallow and have not adequately tested the depth potential of the structure.
Table 1. Mineralized intervals greater than 3 m or greater than 0.5 g/t Au identified during recent drilling at Massala West.
Hole ID
From (m)
To (m)
1, 2 Interval (m)
Au (g/t)
SAAC219
16
7
1
0.61
SAAC221
25
26
1
12.94
SAAC225
11
12
1
0.61
SAAC226
8
9
1
0.87
SAAC226
18
20
2
1.11
SAAC232
49
50
1
0.77
SAAC234
27
30
3
1.33
SAAC235
15
18
3
1.11
SAAC236
47
51
4
0.41
SAAC240
38
45
8
0.71
inc.
39
40
1
3.16
SAAC241
4
5
1
1.39
SAAC243
15
16
1
0.61
SAAC246
15
16
1
3.68
SAAC250
24
31
7
0.32
SAAC252
35
39
4
0.56
SAAC252
42
43
1
0.50
SAAC254
22
31
9
1.01
SARC005
56
57
1
0.54
SARC005
84
97
13
0.79
inc.
94
96
2
2.88
SARC006
79
80
1
0.64
SARC007
54
55
1
1.86
SARC007
71
77
6
0.27
SARC007
98
99
1
0.60
SARC008
24
27
3
0.69
inc
26
27
1
1.48
SARC008
35
36
1
0.58
SARC008
45
50
5
0.59
1True thicknesses are interpreted as 60-90% of stated intervals. 2 Intervals use a 0.2-gram-per-tonne gold cut-off value
Next Steps
The encouraging results achieved from this last phase of work strongly support the need for deeper drilling at Massala West. Over the 3.5-km strike length gold grades and intercepts widths are variable, which is consistent with the style of mineralization Compass are investigating. A similar variation will also be present at depth, so it is important that drilling into fresh bedrock at depths greater than 50 m takes place, in zones where wider intercepts or higher gold grades have been identified. The central zone (Figure 1) contains wide, near surface intercepts and is, therefore, a priority for RC drilling.
If the pending assay results for the southern zone and the northern extension are also positive, then Compass has earmarked approximately 2,000 m of deeper RC on this 3 km portion of the Tarabala Trend.
A total of 3,000 m of RC and diamond drilling will take place over a distance of 1 km at the Tarabala prospect, where drilling in February 2021 recorded wide intercepts of gold mineralization, e.g., 25 m @ 0.58 g/t Au (from 67 m). Drilling pad preparation is underway and will be completed in time for the anticipated start of drilling after the rainy season.
An initial program of AC drilling (1,400 m) is also planned at the new Tarabala South target. Drilling is scheduled to take place here in December.
Air core and reverse circulation holes from Massala West reported here were drilled on an azimuth of 270° (towards the west), at dips of 55. AC hole lengths were all 60 m, with the exception of one hole that was 53, and RC holes varied from 86 m to 125 m. The drill fences were designed to test structures interpreted from Gradient IP surveying, and potential mineralized trends identified by Compass’s earlier drilling. Drilling was performed by Etasi and Co. Drilling (Mali). All samples were prepared by Compass staff and an appropriate number of standards, duplicates and blanks were submitted and analysed for gold at SGS (Bamako, Mali) by fire assay.
About Compass Gold Corp.
Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the TSX- V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of 867 sq. km. The Sikasso Property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana. The Company’s Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy Archibald, P.Geo, is conducting the current exploration program. They are examining numerous anomalies first noted in Dr. Archibald’s August 2017 “National Instrument 43-101 Technical Report on the Sikasso Property, Southern Mali.”
QAQC
All AC samples were collected following industry best practices, and an appropriate number and type of certified reference materials (standards), blanks and duplicates were inserted to ensure an effective QAQC program was carried out. The 1 m interval samples were prepared and analyzed at SGS SARL (Bamako, Mali) by fire assay technique FAE505. All standard and blank results were reviewed to ensure no failures were detected.
Qualified Person
This news release has been reviewed and approved by EurGeol. Dr. Sandy Archibald, P.Geo, Compass’s Technical Director, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.
Forward‐Looking Information This news release contains "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the Company’s planned exploration work and management appointments. Readers are cautioned not to place undue reliance on forward‐looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward‐looking information except as required by applicable law.
For further information please contact:
Compass Gold Corporation
Compass Gold Corporation
Larry Phillips – Pres. & CEO
Greg Taylor – Dir. Investor Relations & Corporate Communications
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.
TORONTO, Sept. 07, 2021 (GLOBE NEWSWIRE) — The Board of Directors of Noront Resources Ltd. (“Noront” or the “Company”) (TSXV: NOT) acknowledges receipt of a form of Arrangement Agreement from Wyloo Metals (“Wyloo”) on the evening of Friday September 3, 2021 (the "Arrangement Agreement"), which provides the terms and conditions of the potential transaction proposed by Wyloo to acquire all of the outstanding common shares of Noront for C$0.70 per share.
Noront and its advisors are reviewing the Arrangement Agreement and the Noront Board and Special Committee remain focused on fulfilling their fiduciary duties and on surfacing maximum value for the Noront shareholders. At the current time, Noront understands that the potential transaction proposed by Wyloo remains subject to satisfaction of preconditions, including completion of due diligence. Noront intends to negotiate with Wyloo directly and constructively, with a view to the best interests of Noront minority shareholders, as it has always been willing to do.
Noront confirms it has signed and returned to Wyloo a Confidentiality Agreement in the form provided by Wyloo, thus allowing Wyloo the ability to conduct due diligence on the terms it requested. Noront views the terms and conditions of its initial confidentiality agreement and of the support agreement with BHP Western Mining Resources International Pty Ltd (“BHP”) and its parent, BHP Lonsdale Investments Pty Ltd (the “Support Agreement”) as entirely in line with prevailing market practice; however, Noront sought and received the agreement of BHP to enter into the modified form of Confidentiality Agreement requested by Wyloo in order to facilitate completion of due diligence by Wyloo. This consent is required pursuant to the Support Agreement which requirement is customary for transactions of this nature.
Noront further confirms that there are no undisclosed agreements, understandings, payments or other incentives for Noront’s directors or officers in connection with the transaction with BHP. Wyloo’s assertions that, among other things, the exercise of options and share awards by Noront officers and directors is unusual is simply incorrect. The acceleration provisions provided in the Support Agreement for the options and share awards are also customary for a transaction of this nature and are fully disclosed in the Support Agreement and other public filings relating to the proposed transaction with BHP. As is customary, the lock-up agreements BHP entered into with the directors and officers of Noront will automatically terminate if the Support Agreement is terminated in accordance with its terms, including if Noront terminates the Support Agreement to accept a superior proposal.
Noront looks forward to providing its shareholders with updates in respect of the transaction proposed by Wyloo in due course.
About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com
Certain statements contained in this news release contain “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding: the Wyloo arrangement agreement; the BHP offer; and the intentions of Wyloo to make a binding offer to acquire Noront (if at all).
Although Noront believes that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs that the Offer will be successful, that all required regulatory consents and approvals will be obtained and all other conditions to completion of the transaction will be satisfied or waived, and the ability to achieve goals. Noront cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of Noront, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by Noront will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Noront or its future results and performance.
Forward-looking information and statements in this news release are based on Noront’s beliefs and opinions at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Noront disavows and disclaims any obligation to do so except as required by applicable law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Noront.
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.
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. Importantly, Ucore Rare Metals Inc. (CVE:UCU) does carry debt. But should shareholders be worried about its use of debt?
When Is Debt Dangerous?
Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. While that is not too common, we often do see indebted companies permanently diluting shareholders because lenders force them to raise capital at a distressed price. By replacing dilution, though, debt can be an extremely good tool for businesses that need capital to invest in growth at high rates of return. When we think about a company's use of debt, we first look at cash and debt together.
As you can see below, at the end of March 2021, Ucore Rare Metals had CA$2.89m of debt, up from CA$1.25m a year ago. Click the image for more detail. But on the other hand it also has CA$7.21m in cash, leading to a CA$4.33m net cash position.
debt-equity-history-analysis
A Look At Ucore Rare Metals' Liabilities
According to the last reported balance sheet, Ucore Rare Metals had liabilities of CA$2.07m due within 12 months, and liabilities of CA$1.88m due beyond 12 months. Offsetting this, it had CA$7.21m in cash and CA$709.2k in receivables that were due within 12 months. So it can boast CA$3.97m more liquid assets than total liabilities.
This surplus suggests that Ucore Rare Metals has a conservative balance sheet, and could probably eliminate its debt without much difficulty. Succinctly put, Ucore Rare Metals boasts net cash, so it's fair to say it does not have a heavy debt load! There's no doubt that we learn most about debt from the balance sheet. But it is Ucore Rare Metals's earnings that will influence how the balance sheet holds up in the future. So when considering debt, it's definitely worth looking at the earnings trend. Click here for an interactive snapshot.
Since Ucore Rare Metals has no significant operating revenue, shareholders probably hope it will develop a valuable new mine before too long.
So How Risky Is Ucore Rare Metals?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And in the last year Ucore Rare Metals had an earnings before interest and tax (EBIT) loss, truth be told. Indeed, in that time it burnt through CA$5.0m of cash and made a loss of CA$5.3m. With only CA$4.33m on the balance sheet, it would appear that its going to need to raise capital again soon. Even though its balance sheet seems sufficiently liquid, debt always makes us a little nervous if a company doesn't produce free cash flow regularly. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet – far from it. For instance, we've identified 5 warning signs for Ucore Rare Metals (2 are a bit unpleasant) you should be aware of.
When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt100% free, right now.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Highlights:
PBM-138 intersected 37m of 6.00% copper, 0.35 g/t gold and 6.13 g/t silver;
PBM-133 intersected 7.71m of 2.62% CuEq including 1.70% copper, 0.52 g/t gold, 8.25 g/t silver and 1.29% zinc; and
One drill is currently testing the up plunge extent of the Rainbow Deposit to surface.
VANCOUVER, BC, Sept. 7, 2021 /PRNewswire/ – Callinex Mines Inc. (the "Company" or "Callinex") (TSXV: CNX) (OTC: CLLXF) is pleased to announce additional drill results from the ongoing 30,000m drilling campaign to expand the high-grade copper, gold, silver and zinc Rainbow Deposit (the "Rainbow"). The Rainbow is located at the 100% owned Pine Bay Project within a mineral lease, less than 250m from a high-voltage hydroelectric power-line and 550m from a historic shaft with direct road access to processing facilities in Flin Flon, MB (District Overview Map).
PBM-138 intersected the Orange Zone and returned 37.0m of 6.00% copper ("Cu"), 0.35 g/t gold ("Au"), 6.13 g/t silver ("Ag"), 0.09% zinc ("Zn") or 6.33% copper equivalent ("CuEq") including two high-grade one meter intervals which returned over 18% Cu (Rainbow Drill Core Photo) . PBM-138 is located 210m vertically above and along strike to the north of PBM-129-W2 which intersected 67.0m of 2.73% Cu and a 34m step-out from PBM-131 which intersected 20.53m of 2.58% Cu (Orange Zone Grade/Width Contour Long Section) (See News Release Dated June 30, 2021).
Max Porterfield, President and CEO, stated, "We continue to be impressed with assay results coming out of the Rainbow as Callinex expands the high-grade copper deposit. The Company recently mobilized one of the two drill rigs to define how close the Rainbow deposit comes to surface. To date the Rainbow deposit has been intersected from 300m vertical depth down to 890m."
Rainbow Deposit Orange Zone Grade/Width Contour Long Section (CNW Group/Callinex Mines Inc.)
Additionally, PBM-133 intersected the Orange Zone with 2.62% CuEq over 7.71m (1.70% Cu, 0.52 g/t Au, 8.25 g/t Ag and 1.29% Zn) including 3.21m of 3.48% Cu, 0.70 g/t Au, 12.18 g/t Ag and 0.98% Zn (Rainbow Deposit Long Section).
Two drill holes, PBM-135 and PBM-136, were drilled to test the down plunge extent of mineralization below discovery hole PBM-111, the deepest intersection to date at the Rainbow. Drill holes PBM-135 and PBM-136 have been interpreted to have gone above and below the plunge line. Additional drilling is required to further delineate the deposit at depth.
One rig is currently drilling to test the up plunge extent of the Rainbow deposit above 300m vertical depth. A second drill rig is operating to test regional exploration targets to the north and along strike of the Rainbow Deposit, while vectoring with borehole electromagnetic surveys. Since the Company commenced its 2021 exploration campaign, 27 holes (including 5 wedges) have been announced for a total of 18,700 meters out of a fully funded 30,000 meter budgeted drill program. Callinex will continue to provide results for the duration of the 2021 drilling campaign.
Table 1: Pine Bay Drill Results
Drill Hole
From
(m)
To
(m)
Interval (m)
True Width
(m)
Cu
%
Au g/t
Ag g/t
Zn
%
Sg
CuEq
%
PBM-113-W3
861.00
866.00
5.00
3.72
1.38
0.06
2.04
0.08
3.00
1.47
PBM-132
652.00
658.00
6.00
5.14
1.38
0.17
4.33
0.13
3.19
1.58
PBM-133
including
506.00
510.5
513.71
513.71
7.71
3.21
7.02
2.92
1.70
3.48
0.52
0.70
8.25
12.18
1.29
0.98
3.51
4.02
2.62
4.44
PBM-134
Assays pending
PBM-135
903.00
903.50
0.50
0.38
2.50
0.54
6.97
0.76
2.97
3.22
PBM-136
1002.00
1006.00
4.00
2.97
0.53
0.06
2.00
0.16
2.92
0.65
PBM-137
Assays pending
PBM-138
660.00
697.00
37.00
33.25
6.00
0.35
6.13
0.09
3.89
6.33
including
671.00
672.99
1.00
0.90
18.81
1.11
19.43
0.58
4.36
19.96
including
684.00
685.00
1.00
0.90
18.30
0.35
16.24
0.18
3.82
18.74
Notes:
1. PBM-113-W3 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 14N 331402m East and 6071286m North and 298.0m above sea level, and started at 300Az, -87 degree dip with the top of wedge set at depth 285m. PBM-132 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 14N: 331378m East and 6071255m North and 295.0m above sea level, and started at 290Az, -85 degree dip. PBM-133 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 14N: 331352m East and 6071213mNorth and 295.0m above sea level, and started at 315Az, -53 degree dip. PBM-135 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 14N: 331378m East and 6071255mNorth and 295.0m above sea level, and started at 120Az, -82 degree dip. PBM-136 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 14N: 331378m East and 6071255m North and 295.0m above sea level, and started at 295Az, -87 degree dip. PBM-138 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 14N: 331378m East and 6071255m North and 295.0m above sea level, and started at 292Az, -80 degree dip.
2. The size of the drill core is NQ.
3.True Width calculations assumed the Rainbow Horizon to strike 032 degrees azimuth, with a 80 degree easterly dip.
4. All CuEq (copper equivalent) assay results in this news release use the following pricing: US$3.00 copper per pound ($6,720/tonne), US$1.15 zinc per pound, US$1,450/troy ounce gold ($46.62/gram), US$16.50/toy ounce silver ($0.53/gram), calculation CuEQ= Cu%+(Zn% x zinc price per pound / copper price per pound)+(Au g/t x Au price per gram / copper price per tonne) x100 + (Ag g/t x Ag price per gram / copper price per tonne) x 100. 100% metal recoveries used, ie. no process recoveries or smelter payables were included in the calculation.
J.J. O'Donnell, P.Geo, a qualified person under National Instrument 43-101, has reviewed and approved the technical information in this news release.
QA / QC Protocols Individual samples were labeled, placed in plastic sample bags, and sealed. Groups of samples were then placed in security sealed bags and shipped directly to SGS lab in Vancouver, BC for analysis. Samples were weighed then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns in order to produce a 250g pulverized split. 35 elements including copper, zinc, lead and silver assays were determined by Aqua Regia digestion with a combination of ICP-MS and ICP-AES finish, with over limits rerun using an ore grade analysis (two acid digest ICP-AES). Gold was analyzed by fire assay. Specific gravity (sg) measured for each sample using the pycnometer and water and air method. QA/QC included the insertion and continual monitoring of numerous standards, blanks, and duplicates
About Callinex Mines Inc.
Callinex Mines Inc. (TSXV: CNX) (OTC: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The portfolio is highlighted by the rapidly expanding Rainbow Discovery at its Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. Additionally, Callinex has emerging near-surface silver discoveries at its Nash Creek Project located in the Bathurst Mining District of New Brunswick. A 2018 PEA on the Company's Bathurst projects outlined a mine plan that generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax).
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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.
Rainbow Deposit Yellow Zone Grade/Width Contour Long Section (CNW Group/Callinex Mines Inc.)
Rainbow Deposit Long Section as of September 7, 2021 (CNW Group/Callinex Mines Inc.)
SANTIAGO, Sept 7 (Reuters) – Albemarle Corp, the world's top lithium producer, said on Tuesday it has maintained output from its Chile operations despite an ongoing strike by one of the company's four unions in the South American nation.
The 135-member "Albemarle Salar" union, which the company said comprises about half the workers at its Salar plant, went on strike in August after failing to reach a labor contract deal with the U.S.-based lithium miner.
The company in a statement said the Salar workers remained on strike – part of a regulated legal process in Chile – but that operations continued apace there and at its La Negra processing plant nearby.
"We have a solid contingency plan that maintains operational continuity and our production at La Negra to continue meeting our customers' needs," the company said in the statement.
Representatives of the striking union did not immediately reply to requests for comment.
Albemarle's Atacama operations in Chile are a vital source of the ultralight white metal used in the batteries that power electric vehicles. Top competitor SQM operates nearby.
The company said it had failed to reach agreement with workers at the Salar union but had struck deals with the remaining three guilds at its operations in Chile.
"We have presented four offers, which have been rejected because they aspire to an end-of-conflict bonus amount that far exceeds what was provided to the other three unions, with whom we successfully concluded negotiations this year," the company said.
The union on strike has said in a previous written statement that it is particularly disadvantaged by the Salar's distant location, which it said shortens rest time. The union also expressed concern over inequality around compensation.
Albemarle extracts lithium-rich brine from beneath the salt flat at its Salar plant, then processes the distilled brines into battery grade lithium carbonate at its La Negra chemical plant near the city of Antofagasta in northern Chile.
(Reporting by Dave Sherwood Editing by Bill Berkrot)
CALGARY, AB, Sept. 7, 2021 /CNW/ – Uravan Minerals Inc. (TSXV: UVN) ("Uravan") has been active as a junior uranium exploration company (relying on sustainable uranium prices, which almost never exist) since 2003. However, in 2011, following the earthquake and tsunami that devasted the Fukushima Daiichi nuclear power plant in Japan, the spot and long-term uranium prices have been in a protracted decline. In 2015, production cuts from most uranium miners were implemented to help revive the weak global uranium market prices.
Fast forward to 2021, a decade lost to declining spot prices of natural uranium, the weak-demand story persists. We believe that the recent upward price movement in the uranium spot market, closing at a high of $38.70 per pound U3O8 on September 3rd, has been orchestrated predominately by non-user buying in the very thin uranium commodity exchanges, and is not supported by fundamentals. Although this uranium buying activity is considered positive to the investor, this upward movement in spot prices is considered ephemeral due to the lack of real demand between uranium producer and nuclear power user (i.e., uranium is not a commodity), plus advances in enrichment technologies allows nuclea r power utilities to avoid these markets.
Therefore, due to Uravan's current financial constraints, relatively weak spot natural uranium prices and lack of access to financial markets or other sources of financing, Uravan has determined it is in the best interest of its shareholders to enter a strategic alternatives process to pursue and evaluate other businesses and opportunities outside the mineral exploration industry, including mergers or RTO transactions. Uravan will make further announcements with respect to these efforts and progress as they become available.
Cautionary Statement
This press release may contain forward looking statements including those describing Uravan's plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, much of which are beyond the control of Uravan and its management. There can be no assurance that Uravan's strategic alternatives process will result in the successful conclusion of a transaction or that Uravan will be able to attract sufficient investment to embark on any other business strategies. The views presented above regarding Uravan's outlook on the uranium market are Uravan's views alone and do not constitute investment advice. This news release contains forward-looking statements pertaining. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.
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.
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
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