Mineral Resource Estimate
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Q2 Metals Intercepts 179 Metres of Continuous Spodumene Pegmatite North of the Mineralized Zone at the Cisco Lithium Project in Quebec, Canada
Globenewswire· 2025-11-17 08:01
Core Insights - Q2 Metals Corp. is advancing its 2025 drilling campaign at the Cisco Lithium Project, with significant progress reported in drilling and mineralization discovery [2][5][30] Drilling Progress - A total of 27,295 meters of drilling has been completed across 67 holes, with assays pending for holes 40 to 65 [3][10] - Recent drilling has revealed that the mineralization trend extends beyond initial expectations, particularly with drill hole 65 significantly expanding the known mineralized area to the north [4][16] Mineral Resource Estimate - The company aims to transition from a conceptual Exploration Target to an inaugural mineral resource estimate, expected in Q1 2026 [5][30] - The initial Exploration Target estimated potential mineralization between 215 to 329 million tonnes at a grade of 1.0 to 1.38% Li2O, based on the first 40 drill holes [12][29] Spodumene-Pegmatite Intervals - Drill hole CS25-065 encountered five spodumene pegmatite intervals, with the widest being 179.2 meters, while drill hole CS25-063 encountered 15 intervals, including a 75.4-meter-wide interval [6][16] - The mineralized intervals are not necessarily representative of true width, and the geological model is being refined with each additional hole [7][10] Future Exploration Plans - The expanded drilling program will continue to tighten drill spacing within the mineralized zone and explore additional outcrop zones [19][30] - The Cisco Project remains open in all directions, indicating further exploration potential [6][30] Financial and Operational Status - The company is well-funded to continue its exploration and development efforts at the Cisco Project [6][30] - The completion of the first anniversary payment under the Cisco Option Agreement has been finalized, with the issuance of common shares and cash payments [24]
Denarius Metals Files Third Quarter and Nine Months 2025 Interim Filings on SEDAR+
Newsfile· 2025-11-14 12:15
Core Insights - Denarius Metals Corp. has filed its unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2025, revealing ongoing operations and financial performance [1] Financial Performance - The company reported a net loss of $11.7 million ($0.09 per share) in Q3 2025, compared to a net loss of $9.5 million ($0.14 per share) in Q3 2024, bringing the total net loss for the first nine months of 2025 to $20.9 million ($0.19 per share) [12] - Revenue generated in the first nine months of 2025 was $0.5 million, with an average realized gold price of $3,460 per ounce and total cash cost of $2,500 per ounce [4][13] - The company’s cash position as of September 30, 2025, was $1.0 million, consistent with the end of 2024 [10] Mining Operations - Denarius Metals commenced mining operations at the Zancudo Project in Colombia in Q2 2025, with the early production phase expected to last until Q2 2026 [2] - The first shipment from Zancudo was completed in June 2025, delivering a total of 878 tonnes to Trafigura, with average grades of 7.3 g/t gold and 164.5 g/t silver [3] - The company has received payment for 126 ounces of gold and 1,694 ounces of silver from these shipments [3] Mineral Resource Estimate - An updated Mineral Resource estimate effective October 31, 2025, shows 979,000 tonnes converted to Indicated Resources grading 6.9 g/t gold and 84 g/t silver, totaling 217,000 ounces of gold and 2.7 million ounces of silver [5] - The Inferred Resources category saw a 13% increase, resulting in 4.6 million tonnes grading 5.6 g/t gold and 84 g/t silver, totaling 832,000 ounces of gold and 12.5 million ounces of silver [5] Project Developments - The industrial facility permit for the processing plant at the Zancudo Project has been approved, allowing construction to commence, with operations expected by the end of Q2 2026 [6] - The Aguablanca Project in Spain has received all necessary permits to restart mining operations, with refurbishment of the processing plant being arranged [9] Funding and Liquidity - The company completed two private placements in the first nine months of 2025, raising total net proceeds of $7.8 million [10] - Denarius Metals has a prepayment agreement with Trafigura, receiving a total of $5.0 million to date, with the potential for an additional $4.0 million [8][10]
Galantas Gold Announces Acquisition of RDL Mining Corp. with Option to Develop Indiana Gold-Copper Project in Chile and Brokered Private Placement to Raise up to $7 million
Globenewswire· 2025-11-13 21:53
Core Viewpoint - Galantas Gold Corporation has entered into a share purchase agreement to acquire RDL Mining Corp, aiming to advance the Indiana gold-copper project in Chile, which RDL holds an option to acquire 100% interest from Minería Activa SpA [1][2] Company Overview - Galantas Gold Corporation trades on the TSX Venture Exchange and the London Stock Exchange AIM market under the symbol GAL, and on the OTCQB Exchange as GALKF [36] - The company's strategy focuses on expanding gold production and resources at the Omagh Project in Northern Ireland and exploring the Gairloch Project in Scotland [36] Transaction Details - The acquisition will involve Galantas issuing approximately 132 million shares to RDL shareholders, representing 49.99% of the outstanding shares post-transaction [8][10] - RDL shareholders will also receive a 0.66% net smelter returns royalty, totaling approximately 2% for the Indiana Project [8] - The transaction is subject to approval from the TSX Venture Exchange and other customary closing conditions [9][28] Indiana Project Insights - The Indiana Project is located in a prolific mining district in Chile, with a historical inferred mineral resource estimate of 607,000 ounces of gold equivalent, consisting of 3.09 million tonnes at an average grade of 2.8 g/t gold and 1.6% copper [4][6] - The project has significant exploration potential, with over 20 veins remaining untested and a commitment from RDL to spend a minimum of US$1 million annually on exploration during the option period [11][12] Management and Board Changes - Following the transaction, Lawrence Roulston will join the Galantas Board as a non-executive director, and Robert Sedgemore will become Senior Vice President, Operations [17][18] - Both Roulston and Sedgemore bring extensive mining experience, particularly in major Chilean mines [18][19] Concurrent Financing - Galantas plans to raise up to $7 million through a brokered private placement to fund exploration and option payments related to the Indiana Project [20][24] - Each unit in the financing will consist of one Galantas share and one purchase warrant, with the financing expected to close around December 4, 2025 [21][25] Shareholder Support - The Galantas Board has unanimously approved the transaction, and shareholders holding approximately 57% of the outstanding shares have expressed support for the transaction [29][30]
Besra Gold Announces: Bau Gold Project, Malaysia, Independent Technical Review and Corporate Update
Newsfile· 2025-11-13 15:07
Core Viewpoint - Besra Gold Inc has conducted an independent technical review of the Bau Gold Project in Malaysia, focusing on operational clarity, governance, and the renewal of mining leases, which are critical for project advancement [1][2][4]. Group 1: Technical Review Findings - The independent review by Minescope Services highlighted the need for the renewal of expired mining leases and transparency from the Sarawak Government regarding delays [2][4]. - The October 2025 Mineral Resource Estimate indicates a reduction in total contained gold, necessitating the identification of additional ore sources for future development [4]. - The main deposits are spread over approximately 15 km, requiring community engagement for access to a central processing facility [4]. - Metallurgical complexity across deposits necessitates further testing to determine a suitable processing flowsheet [4]. - The southern portion of the Bau Project, particularly the Pejiru area, has a large Inferred Mineral Resource with less complex metallurgy, suggesting potential for streamlined permitting [4]. Group 2: Strategic Focus and Next Steps - The company is prioritizing government and stakeholder engagement to secure the renewal of the key ML 05/2012/1D Mining Lease, with all other exploration activities on hold until this is achieved [6][8]. - A structured engagement strategy with the local community and government has been approved to build trust and operational readiness [7]. - The company plans to digitize its historical exploration data to prepare for future exploration and development once the necessary tenure is secured [8]. - A disciplined exploration program is recommended to expand resources at the Pejiru and Sirenggok deposits, which face fewer tenure risks [11].
Grade Control Drilling at Moss Main Zone Defines Higher Grade Corridors Intersecting 78.4m of 1.44 g/t Au from 15.6m
Newsfile· 2025-11-13 12:00
Core Insights - Gold X2 Mining Inc. has reported positive results from its ongoing grade control drilling program at the Moss Gold Project, highlighting the discovery of higher-grade gold corridors [1][2][5] Summary by Sections Company Overview - Gold X2 Mining Inc. is focused on the Moss Gold Project located in Northwest Ontario, Canada, and is actively conducting a grade control drill program to enhance its understanding of gold mineralization [1][2] Drilling Results - The latest assay results from nineteen shallow drill holes indicate strong continuity of wide, near-surface, high-grade shear corridors within the Moss Main Zone [5][12] - Significant drill intercepts include: - 78.4m of 1.44 g/t Au from 15.6m in MMD-25-246, including 18.2m of 3.41 g/t Au from 74.8m - 73.1m of 1.08 g/t Au from 37.9m in MMD-25-228, including 9.95m of 2.65 g/t Au from 76.1m - 41.05m of 1.39 g/t Au from 118.4m in MMD-25-234, including 10.0m of 3.74 g/t Au from 147.0m [5][12][17] Geological Insights - The drilling program has confirmed the presence of two main parallel shears consistently containing greater than 2.5 g/t gold mineralization, which is crucial for future mining operations [12][14] - The geological model is supported by consistent and predictable geology, which will aid in future exploration targeting and mineral resource estimations [14][13] Future Plans - The company plans to utilize the data from the grade control drilling to inform an upcoming infill drilling program aimed at upgrading Inferred Mineral Resources to Indicated Mineral Resources [11][10] - The results will also contribute to feasibility-level metallurgical studies and help define high-grade zones for optimal mining sequencing [11][13]
Montage Gold Reports on its Q3-2025 Activities
Globenewswire· 2025-11-12 22:15
Core Insights - Montage Gold Corp. is progressing well on its flagship Koné project in Côte d'Ivoire, remaining on budget and on schedule for the first gold pour in Q2-2027, with significant construction and exploration activities reported [1][5][36] Construction Activities - A total of 5.7 million cumulative construction hours have been worked, with 2,051,952 hours in Q3-2025 alone, achieving an industry-leading Lost Time Injury Frequency Rate (LTIFR) of 0.20 [5][10] - As of September 30, 2025, the total capital committed for the Koné project construction reached $428.0 million, with $262.3 million disbursed, and this amount has increased to approximately $494.8 million as of now, representing 58% of the total estimated capital expenditure of $860 million [5][41] - Key construction milestones include the completion of all tanks on the first carbon in leach (CIL) train, concrete pours for the ball mill, pre-leach, and tailings thickeners, and the commissioning of site water infrastructure [5][10][18] Exploration Activities - The company has drilled a total of 85,784 meters in 2025, exceeding the total of 81,815 meters completed in 2024, with a focus on delineating higher-grade resources [6][10] - Recent updates to the Mineral Resource Estimate (MRE) for the ANV, Gbongogo South, and Koban North deposits indicate continued growth, with further resource updates expected for other targets by year-end [6][9][44] - The exploration program aims to discover over 1 million ounces of Measured and Indicated Resources at a grade 50% higher than the Koné deposit before production begins [42][44] Financial Position - As of September 30, 2025, the company reported total liquidity and funding sources of $712.8 million, which includes $159.0 million in cash and $487.5 million in undrawn funding sources [40][41] - Cash flows from financing activities increased to $156.8 million in Q3-2025, while cash flows used in investing activities rose to $92.1 million, reflecting ongoing construction activities [38][39] - The company signed a binding commitment letter for a $50.0 million Working Capital Facility, which is expected to enhance its financial flexibility [42]
Allied Critical Metals Confirms Ultra High-Grade Tungsten Zone at Borralha with 18.0 m @ 0.85 % WO3 including 4.0 m @ 3.72 % WO3
Newsfile· 2025-11-12 22:00
Core Insights - Allied Critical Metals Inc. has confirmed and expanded an ultra high-grade tungsten zone at its Borralha project in Portugal, reinforcing its significance as a major tungsten discovery in Europe amid rising global prices [2][4][11]. Company Updates - The company is focused on its 100% owned Borralha and Vila Verde tungsten projects in northern Portugal, with recent assay results from the ongoing 2025 Reverse Circulation drilling campaign [3][30]. - New assay results from holes Bo_RC_25/25, Bo_RC_20/25, and Bo_RC_29/25 confirm exceptional tungsten grades and strong mineralization continuity, supporting a significant expansion of the upcoming Mineral Resource Estimate (MRE) [4][11][15]. Market Context - Tungsten prices have recently reached USD $700/MTU APT, reflecting a 70% increase over the past six months due to rising demand for critical raw materials and tightening global supply [5][30]. - The Borralha project is strategically important as the EU currently relies on over 80% of its tungsten imports from China, making it a key opportunity for developing a secure domestic supply [33]. Geological Insights - The drilling results indicate a continuous, steeply dipping, high-grade tungsten backbone that remains open along strike and at depth, which is crucial for the forthcoming MRE update and Preliminary Economic Assessment [13][30]. - The mineralization at Borralha is characterized by coarse-grained wolframite, which is highly desirable in global markets due to its favorable processing characteristics [30][33]. Future Plans - The company plans to complete the Phase 1 drilling campaign and finalize assay results, which will inform the updated Mineral Resource Estimate and subsequent economic studies [14][15]. - The updated MRE is expected in Q4 2025, alongside a Preliminary Economic Assessment scheduled for Q1 2026 [15][30].
OTC Markets Group Welcomes District Metals Corp. to OTCQX
Globenewswire· 2025-11-12 12:00
Core Insights - District Metals Corp. has qualified to trade on the OTCQX Best Market, upgrading from the OTCQB Venture Market, which signifies a milestone for the company in terms of visibility and investor engagement [1][3]. Company Overview - District Metals Corp. is a disciplined, science-based exploration and development company focused on mineral properties, aiming to create shareholder value and benefit stakeholders [4]. - The company is recognized as a 2025 TSX Venture 50 company, ranking among the top-performing issuers on the TSX Venture Exchange in the past year [4]. Properties and Resources - The Viken Property in Sweden contains the largest undeveloped Mineral Resource Estimate of uranium globally, along with significant resources of vanadium, molybdenum, nickel, copper, and zinc [5]. - The Tomtebo Property is located in the Bergslagen Mining District and is situated between two historic mines, showcasing similar geological features and mineralization trends [6].
Omai Gold's Deep Hole Intersects 2.57 g/t Au over 8.6m and 5.12 g/t Au over 3.6m, 700m Below Wenot Gold Deposit
Newsfile· 2025-11-12 11:02
Core Insights - Omai Gold Mines Corp. announced significant assay results from deep drill hole 25ODD-122W, confirming the depth potential of the Wenot Gold Deposit, with multiple gold zones intersected at approximately 700m below the known deposit [1][2][5] - The results suggest a potential doubling of the overall size of the Wenot deposit, indicating a much longer mine life due to the discovery of gold zones extending at least 220m north to south [2][5][24] Summary by Sections Drill Results - The deep hole intersected multiple gold zones, including notable grades of 2.57 g/t Au over 8.6m, 5.12 g/t Au over 3.6m, and 2.19 g/t Au over 7.9m, with the latter including 3.61 g/t Au over 4.4m [4][8][11] - The hole reached a final depth of 2,014m, exceeding expectations, and confirmed the continuation of the Wenot Shear Corridor at significant depths [1][5][10] Geological Context - The Wenot Shear Corridor was first encountered around 1,740m downhole, with various mineralized zones identified within the sheared and altered mafic volcanics [7][10] - The best gold zones were found within the southern sedimentary sequence, extending from the central quartz-feldspar porphyry dike [8][9] Company Outlook - The current Mineral Resource Estimate for the Omai Gold Project, including both the Wenot and Gilt Creek deposits, totals 2,121,000 ounces of gold (Indicated) averaging 2.07 g/t Au [24] - The company plans to conduct further drilling to explore known gold occurrences and optimize the upcoming Preliminary Economic Assessment (PEA) [24]
FireFly Metals (OTCPK:MNXM.F) 2025 Earnings Call Presentation
2025-11-10 14:15
DISCLAIMER, COMPLIANCE & CAUTIONARY STATEMENTS This presentation has been prepared by FireFly Metals Ltd (Company) based on information from its own and third party sources. No party other than the Company has authorised or caused the issue, lodgement, submission, dispatch or provision of this presentation, or takes any responsibility for, or makes or purports to make any statements, representations or undertakings in this presentation. To the maximum extent permitted by law, the Company and its related bod ...