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Sokoman Minerals Provides Update at Moosehead Gold Project, Central Newfoundland
Newsfile· 2025-05-02 11:30
Core Insights - Sokoman Minerals Corp. is preparing for the first of two bulk samples at the Moosehead Gold Project, scheduled for extraction in late May or early June 2025, depending on contractor availability and unforeseen factors [1][3] - The first bulk sample will involve approximately 1,000 cubic meters of mineralized rock with a weighted-average gold grade of 5.78 grams per tonne [2][3] - The company is in discussions for processing the conventional sample and expects a formal contract from Novamera Inc. for a second surgical sample to be extracted in Q4 2025 [3][4] Company Activities - The first bulk sample will utilize conventional drill and blast methods on the Western Trend [2] - P&E Mining Consultants has been contracted to provide a proposed pit shell and drill pattern for the sample extraction [2] - Novamera Inc. is finalizing hole locations for the second sample, which will also be approximately 1,000 cubic meters [3] Equipment and Logistics - The drill rig for the second sample is currently in transit from Europe after maintenance and will first be used for a similar bulk sample for Great Atlantic Resources [4] Analytical Techniques - Samples will be analyzed by Eastern Analytical Ltd. in Springdale, Newfoundland, using standard fire assay methods and total pulp metallic analysis [12][13] Company Overview - Sokoman Minerals Corp. is a discovery-oriented company focused on gold projects in Newfoundland and Labrador, including the Moosehead, Crippleback Lake, and Fleur de Lys projects [14] - The company has entered a strategic alliance with Benton Resources Inc. for joint-venture properties in Newfoundland [14] - In October 2023, Sokoman completed an agreement with Piedmont Lithium Inc. to advance a lithium project [15]
Sokoman Minerals Corp. Files for Conditional Approval, Closes First Tranche of Non-Brokered Flow-Through Private-Placement Financing
Newsfile· 2025-05-01 20:36
Core Viewpoint - Sokoman Minerals Corp. is seeking conditional approval for a CAD$400,000 non-brokered flow-through private-placement financing and has closed the first tranche, raising CAD$300,000 through the issuance of common shares [1][2]. Financing Details - The first tranche involves the issuance of 6,000,000 common shares at CAD$0.05, resulting in gross proceeds of CAD$300,000 [2]. - The company will pay cash finders' fees of CAD$18,000 and issue 360,000 non-transferable broker warrants exercisable at CAD$0.07 for one year [2]. - All securities issued are subject to a four-month and one-day hold period, with final approval dependent on the Exchange [3]. Use of Proceeds - The proceeds from the flow-through shares will be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as defined in the Income Tax Act (Canada), by December 31, 2026 [4]. - The company intends to allocate the flow-through proceeds specifically to its exploration projects [5]. Company Overview - Sokoman Minerals Corp. is a discovery-oriented company and one of the largest landholders in Newfoundland and Labrador, focusing on gold projects [6]. - The company's flagship projects include the Moosehead, Crippleback Lake, and Fleur de Lys projects, targeting Dalradian-type orogenic gold mineralization [6]. - The company has formed a strategic alliance with Benton Resources Inc. for joint-venture properties in Newfoundland [6]. Recent Developments - In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc. to advance a lithium project [7]. - The East Alder Project has been optioned to Canterra Minerals Inc., and the Startrek Project has been optioned to Thunder Gold [8]. Acknowledgments - The company expresses gratitude to the Government of Newfoundland and Labrador for financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program [9].
Snow Lake to Participate in a Virtual Critical Minerals Conference Presented by Maxim Group LLC on Tuesday, May 6th at 8:30 a.m. EST
Newsfile· 2025-05-01 17:00
Group 1 - Snow Lake Resources Ltd. will participate in a virtual critical minerals conference on May 6, 2025, at 8:30 a.m. EST, hosted by Maxim Group LLC [1][2] - The conference, titled "Critical Minerals Summit: Accelerating the Mining of U.S. Critical Minerals," will focus on companies developing critical minerals projects in the U.S. [2] - Snow Lake's CEO discussed the company's plans for 2025, including exploration programs for the Pine Ridge Uranium Project in Wyoming and the Engo Valley Uranium Project in Namibia, during an interview with Wall Street Reporter [4][5] Group 2 - Snow Lake Resources Ltd. is a Canadian mineral exploration company listed on NASDAQ under the ticker LITM, with a portfolio of critical mineral and clean energy projects [5] - The Pine Ridge Uranium Project is located in Wyoming, while the Engo Valley Uranium Project is situated in Namibia, both at the exploration stage [5]
LaFleur Minerals Begins Permitting Process for a Bulk Sample from the Swanson Deposit to be Processed at its Beacon Gold Mill
Newsfile· 2025-05-01 13:15
Core Viewpoint - LaFleur Minerals has initiated the permitting process for a bulk sample from the Swanson Gold Deposit, which will be processed at its Beacon Gold Mill, aiming to advance towards gold production and enhance resource estimates in the Abitibi Gold Belt [1][3][20] Group 1: Project Development - The bulk sample will be approximately 100,000 tonnes with an estimated average grade of 1.89 g/t Au, containing about 6,350 ounces of gold, representing roughly 3% of the current mineral resource estimate for the Swanson Project [5][15] - Historical drill results from the Swanson deposit show promising grades, including 4.44 g/t Au over 36.0 meters and 3.62 g/t Au over 41.0 meters, indicating high potential for the project [4][15] - The permitting process is streamlined due to the deposit being located on a Mining Lease, which allows for a larger bulk sample compared to standard mining claims [4][9] Group 2: Economic Considerations - The company plans to conduct a Scoping Study if the bulk sample proves viable, evaluating mine design, processing methods, and overall project economics [2][20] - The Beacon Gold Mill, capable of processing over 750 tonnes per day, is positioned to restart operations, targeting an annual production of approximately 30,000 to 40,000 ounces of gold at current elevated prices [17][20] - The price of gold has significantly increased from USD$2,000 per ounce to nearly USD$3,500 per ounce over the past year, enhancing the economic viability of the Swanson project and the Beacon Mill [6][17] Group 3: Strategic Positioning - LaFleur Minerals aims to transition from explorer to producer by efficiently meeting operational milestones and leveraging existing infrastructure in the Abitibi region [3][20] - The Swanson Gold Project spans over 16,000 hectares and includes several gold-rich prospects, benefiting from excellent access to roads and local workforce, which reduces operational costs [10][22] - The company is committed to a responsible and transparent permitting process, working closely with regulatory bodies and local communities [11][20]
United States Lime & Minerals Reports First Quarter 2025 Results and Declares Regular Quarterly Cash Dividend
GlobeNewswire News Room· 2025-04-30 21:51
Financial Performance - Company reported revenues of $91.3 million in Q1 2025, an increase of $19.6 million or 27.3% compared to $71.7 million in Q1 2024, driven by higher sales volumes and average selling prices of lime and limestone products [1] - Gross profit for Q1 2025 was $46.2 million, up $15.5 million or 50.8% from $30.6 million in Q1 2024, primarily due to increased revenues [2] - Net income reached $34.1 million ($1.19 per diluted share) in Q1 2025, reflecting an increase of $11.7 million or 52.0% from $22.4 million ($0.78 per diluted share) in Q1 2024 [5] Expenses - Selling, general and administrative (SG&A) expenses were $6.3 million in Q1 2025, an increase of $1.4 million or 29.2% from $4.8 million in Q1 2024, mainly due to higher personnel expenses including stock-based compensation [3] Other Income - Other (income) expense, net was $3.1 million in Q1 2025, an increase of $0.6 million from $2.5 million in Q1 2024, attributed to interest earned on higher average cash balances [4] Dividend Announcement - Company declared a quarterly cash dividend of $0.06 per share, payable on June 13, 2025, to shareholders of record by May 23, 2025 [7] Company Overview - United States Lime & Minerals, Inc. is a manufacturer of lime and limestone products, serving various industries including construction, industrial, environmental, metals, agriculture, and oil and gas services [8]
CSE Bulletin: Fundamental Change - DeepRock Minerals Inc./Allied Critical Metals Inc.
Newsfile· 2025-04-29 19:43
Group 1 - Allied Critical Metals Inc. (ACM), formerly known as DeepRock Minerals Inc. (DEEP), has been approved for listing on the Canadian Securities Exchange (CSE) [1][4]. - The company has undergone a Fundamental Change, spinning out its Golden Gate Project in New Brunswick and Ralleau Project in Quebec, along with all other assets and liabilities, to its wholly owned subsidiary Revelation Minerals Inc. [2][5]. - Shareholders of Allied Critical Metals will receive one share of Revelation for each post-Consolidation share held as of April 17, 2025, the closing date of the Arrangement and Fundamental Change [2][5]. Group 2 - Allied Critical Metals is focused on the acquisition, exploration, and development of mineral resource properties in Canada, as well as potential tungsten projects in Portugal [3][6]. - The company has a total of 109,846,577 common shares issued and outstanding, with an additional 24,199,916 shares reserved for issuance [7]. - The share consolidation ratio is set at 40 old shares for 1 new share [7].
Grizzly Announces Private Placement, Debt Settlement, and Provides Update on The Greenwood Precious and Critical Minerals Project
Newsfile· 2025-04-29 16:24
Core Viewpoint - Grizzly Discoveries Inc. is conducting a private placement to raise up to $1,000,000 while simultaneously settling $500,000 in outstanding debt to APEX Geoscience Ltd. for geological services related to its mineral properties [1][7]. Private Placement Offering - The Offering includes up to 8,333,333 Units and up to 25,000,000 FT Units, priced at $0.03 each [2]. - Each Unit consists of one common share and one warrant, allowing the purchase of an additional common share at $0.05, expiring under specific conditions [2]. - The Offering is available to qualified subscribers in Alberta, British Columbia, Ontario, and other jurisdictions as determined by the Company [2]. Use of Proceeds - If fully subscribed, the proceeds will be allocated as follows: - $750,000 for mineral property exploration - $80,000 for mineral rights and exploration permits - $12,000 for outstanding management fees - $65,000 for other accounts payable - $93,000 for corporate overhead [3]. Debt Settlement Agreement - The Company has agreed to settle $500,000 in accounts payable to APEX by issuing 8,333,334 Units at a deemed price of $0.03 per Unit and a promissory note of $250,000 with 5% annual interest [7][8]. - The promissory note matures in two years and interest may be paid in common shares at the Company's option [8]. Corporate Update - Greenwood Project - Grizzly has received four new five-year drilling permits from the BC Ministry of Mining for drill testing in target areas including Midway, Imperial, Sappho, and Copper Mountain [11]. - Plans are underway for aggressive drilling in 2025 at the Motherlode Mine area, focusing on copper-gold-silver mineralization [16]. Historical Production and Exploration Data - The Motherlode Mine historically produced significant quantities of copper, gold, and silver between 1900-1920 and 1957-1962 [14]. - Recent sampling from the Motherlode area has shown high grades of copper (up to 4.88%), gold (up to 6.65 g/t), and silver (up to 51.3 g/t) [14]. - New showings near the Midway Mine have yielded up to 5.64 g/t gold and 2,140 g/t silver, indicating potential for further high-grade mineralization [19]. Company Overview - Grizzly Discoveries Inc. is a diversified Canadian mineral exploration company focused on developing approximately 72,700 hectares of precious and critical minerals properties in southeastern British Columbia [22].
Sokoman Minerals Updates Shareholders on Vinland Shares Spin-Out
Newsfile· 2025-04-28 20:37
St. John's, Newfoundland--(Newsfile Corp. - April 28, 2025) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman" or the "Company") further to its April 25, 2025 news release, the Company announces that its planned spin-out of approximately half of its shares of Vinland Lithium Inc. ("Vinland") has been completed. Accounts holding at least 8,000 Sokoman shares will see approximately 50 Vinland shares credited for each 8,000 Sokoman shares owned with the credit effective May 7, 2025. Details of the ...
Canadian Critical Minerals Generates USD$79,000 in Revenue from Bull River Mine
Newsfile· 2025-04-28 14:56
Group 1: Company Overview - Canadian Critical Minerals Inc. (CCMI) is focused on copper production assets in Canada, with its main asset being the 100% owned Bull River Mine project near Cranbrook, British Columbia, which contains copper, gold, and silver resources [5] - The company also holds a 10% interest in XXIX Metal Corp., which owns the Thierry Mine copper project in Ontario and the Opemiska Mine copper project in Quebec [5] Group 2: Recent Operational Updates - In March 2025, CCMI trucked 254 dry metric tonnes of sorted mineralized material to New Afton, receiving a provisional payment of approximately USD$79,000 for these shipments [1] - The mineralized material sent to New Afton had grades of 3.14% copper, 0.82 g/t gold, and 25.2 g/t silver [1] - The company faced operational challenges due to spring road restrictions in southern British Columbia, limiting the payload to 50% of normal, which affected the volume of material transported [2] - Operational issues with the x-ray transmissive ore sorter led to a lower copper grade than planned for March 2025; however, these issues have been resolved, and the sorter is now functioning effectively [3] Group 3: Future Plans - CCMI plans to resume trucking of mineralized material in late April to early May 2025 once road restrictions are lifted [2] - All rejects from sorting have sufficient grades to be processed at the Bull River Mine once the mill is re-permitted to operate [3]
Black Stone Minerals: Focusing On Natural Gas Acquisitions
Seeking Alpha· 2025-04-26 03:10
Group 1 - Black Stone Minerals (NYSE: BSM) has increased its acquisition spending to $110 million in 2024 [2] - The company's distribution coverage was approximately 1.1x during 2024, indicating a need to utilize its resources effectively [2] - The focus of the investment group Distressed Value Investing is on value opportunities and distressed plays, particularly in the energy sector [2]