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Aldebaran Reports Infill Drilling Results from Eleven Holes at the Altar Copper-Gold Project in San Juan Argentina
Globenewswire· 2025-06-17 11:00
Core Viewpoint - Aldebaran Resources Inc. has reported positive results from its in-fill drilling program at the Altar project in San Juan, Argentina, aimed at upgrading resource classifications from Inferred to Measured & Indicated [1][3]. Drilling Results - The drilling program included 11 holes, with significant results such as: - ALDE-25-038EXT: 578.00 m of 0.51% CuEq from 372.00 m depth [2][5]. - ALDE-25-135EXT: 383.40 m of 0.47% CuEq from 476.00 m depth, including 81.00 m of 0.62% CuEq from 751.00 m depth [3][5]. - ALDE-25-118EXT: 557.00 m of 0.39% CuEq from 352.00 m depth [2][6]. Project Update - The 2024/2025 field campaign has concluded with a total of 25,186.70 m of drilling completed, marking the largest drilling campaign since Aldebaran took over the project in 2018 [7]. - The drilling included 5,977.50 m for metallurgical purposes, and downhole televiewer surveys were conducted for geotechnical data [7]. Management Commentary - The CEO, John Black, emphasized that the results confirm the continuity of known mineralization and will add significant value as the company transitions from a Preliminary Economic Assessment (PEA) to a Pre-Feasibility Study (PFS) in 2026 [3]. - The Chief Geological Officer, Kevin B. Heather, noted that the drilling aims to convert a large portion of inferred resource blocks to measured and indicated categories, enhancing the project's resource confidence [3]. Technical Data - The reported intervals represent true thickness of mineralization, with CuEq values calculated using copper, gold, silver, and molybdenum prices [4][6]. - The sampling and analytical procedures follow rigorous industry standards, ensuring data quality through the use of certified control standards [12]. Company Background - Aldebaran Resources Inc. holds an 80% interest in the Altar copper-gold project, which is part of a cluster of world-class porphyry copper deposits in Argentina [10]. - The company was spun out of Regulus Resources Inc. in 2018 and has the same core management team [10].
NexGold Infill Drilling Intersects 25.79 g/t Gold Over 4.5 Metres and 18.09 g/t Gold over 3.0 Metres at the Goldboro Gold Project
Globenewswire· 2025-06-13 11:00
Core Viewpoint - NexGold Mining Corp. is progressing well with its 25,000-metre diamond drill program at the Goldboro Project in Nova Scotia, aimed at improving geological and grade continuity of the open pit Mineral Resource [1][4] Drilling Program Update - The drill program, initiated on January 22, 2025, is nearing completion, with final assays expected by mid-Q3 2025 [1] - Currently, 31 drill holes, approximately 24% of the total, have been released, showing consistent gold mineralization with additional intersections in previously unpredicted areas [3][4] Assay Results - Recent assay results from 18 infill diamond drill holes total 2,775.3 metres, primarily from the proposed west pit [2] - Selected drill intersections include: - 25.79 g/t gold over 4.5 metres in hole BR-25-522, including 227.0 g/t over 0.5 metres [5] - 18.10 g/t gold over 3.0 metres in hole BR-25-489, including 52.57 g/t over 1.0 metre [5] - 2.27 g/t gold over 11.35 metres in hole BR-25-491 [5] Geological Model and Resource Estimate - The results confirm the existing geological model while indicating the need for adjustments to mineralized solids based on local variations [4] - The data will contribute to a new Mineral Resource Model, which will be the basis for a planned Feasibility Study Update later in 2025 [4][3] Company Overview - NexGold Mining Corp. focuses on gold mining with assets in Canada and Alaska, including the Goldboro Gold Project and the Goliath Gold Complex [17] - The company emphasizes sustainable practices and community engagement throughout its project lifecycle [17]
Aura Minerals Announces the Results of the Preliminary Economic Assessment for the Era Dorada Project
GlobeNewswire News Room· 2025-06-10 01:49
Core Viewpoint - Aura Minerals Inc. has filed a preliminary economic assessment (PEA) for its wholly owned Era Dorada Project, previously known as the Cerro Blanco Project, indicating strong economic potential for the underground mining operation [1][3]. Group 1: Project Overview - The Era Dorada Project is located in Jutiapa, Guatemala, approximately 160 km from Guatemala City and 9 km from the El Salvador border, covering an area of 15.25 km² [4]. - The project is accessible year-round via the Pan-American Highway and is situated in a tropical dry forest climate with elevations between 450–560 meters above sea level [5]. Group 2: Economic Assessment Highlights - The PEA estimates a capital expenditure (Capex) of US$264 million, an after-tax net present value (NPV) of US$485 million, and an unleveraged after-tax internal rate of return (IRR) of 24% based on a gold price of US$2,410 per ounce [3][6]. - The project anticipates total production of approximately 1.4 million ounces of gold over a 17-year life of mine, with an average production of 91,000 ounces in the first four years [6]. Group 3: Mineral Resource Estimates - Indicated mineral resources are estimated at 1.9 million ounces of gold, based on 6.35 million tonnes at a grade of 9.31 grams per tonne [6][18]. - The project has a total initial implementation Capex of approximately US$264 million, with a payback period of about 3.5 years after operations commence [6]. Group 4: Historical Context and Development - The Era Dorada Project was initially identified by Mar-West in 1998 and has undergone extensive exploration and development by various companies, including Goldcorp and Bluestone Resources [10][8]. - As of the end of 2021, Bluestone had drilled approximately 267 holes totaling 45,725 meters on the property since acquiring it from Goldcorp [10]. Group 5: Environmental and Social Considerations - Aura is committed to collaborating with local authorities and government agencies to ensure that the Era Dorada Project meets high environmental and social standards under its Aura 360 culture [3][22].
REPEAT – Koryx Copper Announces Further Highly Encouraging Drill Results at the Haib Copper Project, Southern Namibia
Globenewswire· 2025-05-27 11:00
Core Insights - Koryx Copper Inc. announced positive assay results from 12 drill holes totaling 3,603 meters as part of the Phase 2 drill program for the Haib Copper Project in Namibia, indicating the project's potential for copper production through conventional methods and heap leaching [2][3][30] Group 1: Drill Program and Results - The company has completed 29 out of a planned 37 drill holes in Phase 2, totaling 8,647 meters of diamond drilling [4] - Significant results include high copper grades in several drill holes, such as HM62 with 572 meters at 0.33% Cu and HM51 with 112 meters at 0.32% Cu [4][21] - The drilling program is expected to accelerate with the arrival of additional drill rigs in the coming weeks, enhancing the drilling rate for the second half of 2025 [3][4] Group 2: Geological and Technical Developments - Ongoing work includes the development of an updated geological model to improve mineral resource estimation, which will incorporate new insights from recent drilling [4][20] - The company is making progress on metallurgical testwork and ancillary studies related to infrastructure, environmental considerations, and permitting [3][4] - A revised geological model is being developed to enhance the identification of higher-grade areas and improve overall resource estimates [20] Group 3: Future Plans and Objectives - The company aims to complete 28,000 meters of drilling by the end of 2025, with the final Phase 4 infill drilling program scheduled to begin in Q2 2026 [17] - Key objectives include targeting higher-grade areas, performing multi-element assays for byproducts, and improving geological modeling [18][19] - The Haib project is positioned as a potential long-life, low-cost copper project with additional copper production possibilities from heap leaching [30][31]
Besra Gold Announces Market Update
Newsfile· 2025-05-22 20:45
Core Viewpoint - Besra Gold Inc. is addressing misleading information presented by Quantum Metal Bullion Pty Ltd, which includes unauthorized claims about the company's operations and management [1][2][3]. Company Operations - The unauthorized presentation falsely claims that Besra has ongoing mining operations and significantly overstates the quantity of gold reserves, stating "Proven Gold Reserves" that are not accurate [3]. - Besra has established a JORC compliant mineral resource of approximately 13.5 million tonnes at 1.7 g/t Au for 721,000 ounces of gold in the Jugan Gold Project and approximately 57 million tonnes at 1.4 g/t Au for 2.6 million ounces of gold in the Bau Project [4]. Management and Governance - Dato Lim Khong Soon, a director of Besra, has been associated with the unauthorized presentation, leading to the company's decision to call a special meeting to remove him as a director [10][11]. - The company has made efforts to prevent unauthorized statements from Quantum Metal, but these efforts have not stopped the dissemination of misleading information [9]. Investor Communication - Besra emphasizes that it has not authorized any offers related to a "gold contract note device" or any bonus share offers linked to Quantum Metal [5][8]. - The company advises shareholders and investors to disregard the information presented by Quantum Metal regarding Besra and its operations [3][8].
Significant intercepts of gold and copper show Golden Eye emerging as a highly promising new resource prospect
Globenewswire· 2025-05-07 23:14
Core Insights - Cygnus Metals Limited has reported significant high-grade gold mineralization at the Golden Eye prospect within the Chibougamau Copper-Gold Project in Quebec, with the best intercepts to date being 60.8g/t AuEq over 0.4m, including 51.3g/t Au, 7.2% Cu, and 18.0g/t Ag [1][6][13] - The results indicate the potential for valuable resource growth, with additional assay results expected soon from ongoing drilling [5][9][10] Drilling Results - Recent drilling results include: - 7.4m @ 5.7g/t AuEq (4.6g/t Au, 0.9% Cu, 5.6g/t Ag) from 405.6m, with a notable interval of 3.1m @ 9.6g/t AuEq [6][13] - 2.9m @ 10.2g/t AuEq (8.3g/t Au, 1.4% Cu, 3.3g/t Ag) from 463.8m, including the high-grade 0.4m @ 60.8g/t AuEq [6][13] - Historical drilling has shown significant intersections, such as 5.9m @ 34.1g/t AuEq and 4.5m @ 21.6g/t AuEq, indicating a strong potential for resource estimation [7][14] Project Development - The Golden Eye prospect is strategically located 3km from Cygnus' central processing plant, with existing dual ramp access within 150m of the mineralization [8][10] - Cygnus plans to compile new drilling results with historical data from 77 holes totaling 21,371m to complete an initial Mineral Resource Estimate for Golden Eye [10][15] Historical Context - The Chibougamau district has a rich history of gold and copper production, with over 3.5 million ounces of gold produced historically at an average grade of 2.1g/t Au [11][12] - Golden Eye has never been mined and was last drilled in the early 1990s when gold prices were significantly lower [6][10] Future Outlook - Cygnus aims to leverage ongoing exploration and data compilation to identify additional drill targets and enhance resource growth, focusing on low-risk brownfield exploration [15][12] - The company is positioned to benefit from historically high gold prices, making Golden Eye a potential growth driver [8][9]
Eloro Resources Announces Restart of Definition Drilling Targeting Major Tin Discovery and High Grade Silver Zones at its Iska Iska Ag-Sn-Polymetallic Project, Potosi Department, Bolivia
Globenewswire· 2025-04-30 11:00
Core Viewpoint - Eloro Resources Ltd. is initiating a new phase of definition drilling at the Santa Barbara starter pit area within the Iska Iska silver-tin polymetallic project in Bolivia, aiming to upgrade and expand high-grade tin and silver mineralization [1][3]. Group 1: Drilling Program Details - The upcoming drilling program will consist of 4,300 meters of diamond drilling across 8 holes, focusing on high-grade tin mineralization and a shallower silver mineralized zone [1][6]. - Holes will be drilled with a spacing of 50 meters by 50 meters, which has been determined to be optimal for confirming the continuity and grade of mineralization [2]. - The previous drilling program successfully extended high-grade mineralization and identified new targets, indicating a significant potential for resource expansion [3][30]. Group 2: Mineralization Insights - The definition drilling has intersected significant tin and silver mineralization, with the mineralized system extending approximately 1.2 kilometers and remaining open along strike and at depth [5][6]. - Recent drilling results have shown that increased drill hole density correlates with higher grades of silver and tin, suggesting that this trend will continue with further drilling [6][30]. - The mineralization is characterized by visually coarse-grained cassiterite, which is likely amenable to gravity separation, and ongoing metallurgical studies are yielding promising results [3][6]. Group 3: Project Background and Significance - The Iska Iska project is a major silver-tin polymetallic complex located in Bolivia, with significant geological features that suggest the potential for large deposits [19][20]. - Eloro has an option to earn a 100% interest in the Iska Iska property, which is road-accessible and royalty-free, enhancing its attractiveness for exploration and development [19][33]. - The project is strategically positioned within a region known for significant mineral deposits, which may provide further opportunities for resource development [21][24].
Vanguard Mining Advances 90,000-Hectare Yuty Prometeo Uranium Project Adjacent to UEC's 8.96M lbs Deposit with NI 43-101 Technical Report Underway
Thenewswire· 2025-04-17 07:05
Core Viewpoint - Vanguard Mining Corp. has acquired the Yuty Prometeo Project in Paraguay, which is expected to enhance its uranium exploration strategy, with an initial NI 43-101 Technical Report to be prepared by senior geologist Ariel Testi [1][3]. Company Overview - Vanguard Mining Corp. is a Canadian mineral exploration company focused on high-value strategic minerals, particularly uranium, and is advancing projects in the United States and Paraguay [21]. - The company aims to create value through responsible exploration and the acquisition of promising uranium properties [21]. Project Details - The Yuty Prometeo Project consists of a 90,000-hectare (222,395-acre) land package, including the San Jose and Prometeo concessions, located in the uranium-rich Paraná Basin of southeastern Paraguay [2][8]. - The Prometeo Concession covers approximately 27,666 hectares (68,368 acres) and is adjacent to UEC's Yuty Project, which has a defined uranium resource of 8.96 million pounds [2][9]. - The San Jose Concessions total approximately 62,210 hectares (153,754 acres) and have shown significant uranium anomalies based on previous radiometric surveys [10][11]. Geologist Profile - Ariel Testi, a seasoned geologist with 22 years of experience in the mining industry, has been retained to prepare the initial Technical Report for the Yuty Prometeo Project [4][6]. - Testi has a strong background in mineral exploration and has previously contributed to significant discoveries, including the Ivana Deposit in Argentina [6][7]. Industry Context - Paraguay is emerging as a favorable mining jurisdiction in South America, characterized by political stability, low sovereign risk, and a supportive regulatory environment for mineral exploration [20]. - The country is increasingly recognized for its potential in uranium and other strategic minerals, making it an attractive destination for mining companies [20].