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Callinex Received 2-Year Exploration Permit for Pt. Leamington Project, Newfoundland
Globenewswire· 2025-06-12 12:30
Core Viewpoint - Callinex Mines Inc. has received a two-year exploration permit for its Pt. Leamington Project, allowing for immediate exploration activities aimed at expanding the existing mineral resource and testing new targets [2][3][8]. Company Overview - Callinex Mines Inc. is focused on advancing its portfolio of base and precious metals deposits in established Canadian mining jurisdictions, with a significant emphasis on the Pt. Leamington Deposit in Newfoundland [9]. Exploration Permit Details - The exploration permit is valid until June 2027 and enables ground geophysics and diamond drilling at the Pt. Leamington VMS Deposit [3][8]. - Additional exploration permits have been submitted for a planned 2025 surface field exploration campaign, which includes prospecting, geological mapping, and geochemical rock sampling [3][8]. Project Specifications - The Pt. Leamington Project is located approximately 37 km from Grand Falls-Windsor and 20 km from the provincial power grid, featuring a large VMS deposit with a strike length of 500 m and a maximum thickness of 85 m [5]. - The project has an Indicated Mineral Resource of 5.0 million tonnes grading 2.5 g/t AuEq, equating to 402,000 ounces of AuEq, and an Inferred Mineral Resource of 13.7 million tonnes grading 2.24 g/t AuEq, equating to 986,500 ounces of AuEq [5][9]. Exploration Plans - An exploration campaign is anticipated to begin in Q3 2025, focusing on expanding the current resource base and refining targets generated from airborne electromagnetic anomalies [4][6][8]. - The company has identified several untested geophysical anomalies within favorable geological units for further exploration [6]. Government Support - The streamlined permitting process reflects strong government and local support for mining activities in Newfoundland, enhancing the region's reputation as a tier one mining jurisdiction [4][8].
More high-grade assays pave way for resource at Golden Eye
Globenewswire· 2025-06-09 23:13
Core Insights - Cygnus Metals Limited has reported high-grade assay results from the Golden Eye prospect within the Chibougamau Copper-Gold Project in Quebec, indicating multiple parallel mineralized zones and significant potential for resource development [2][3][5] Exploration Results - Recent drilling results include: - 4.3m @ 9.8g/t AuEq (7.5g/t Au, 1.6% Cu & 23.9g/t Ag) from LDR-25-10 - 3.3m @ 12.7g/t AuEq (8.4g/t Au, 3.1% Cu & 30.2g/t Ag) from LDR-25-09, including 1.9m @ 21.1g/t AuEq (14.2g/t Au, 4.9% Cu & 47.5g/t Ag) - 2.5m @ 7.3g/t AuEq (5.9g/t Au, 0.9% Cu & 14.9g/t Ag) from LDR-25-10 [3][4][5] Resource Development - The company plans to establish an initial Mineral Resource for Golden Eye, utilizing both recent drilling data and historical data from 77 holes totaling 21,371m [3][5][6] - Significant historic drill intercepts include: - 5.9m @ 34.1g/t AuEq (32.2g/t Au, 1.2% Cu & 27.3g/t Ag) from RD-11 - 4.5m @ 21.6g/t AuEq (14.9g/t Au, 4.7% Cu & 54g/t Ag) from RD-28 [3][9] Infrastructure and Location - Golden Eye is strategically located just 3km from Cygnus' central processing plant, which has a capacity of 900,000tpa, providing significant logistical advantages [2][5][12] - The prospect has existing dual ramp access within 150m of the mineralization, facilitating future development [5][12] Future Plans - Cygnus intends to continue its focus on resource growth through low-risk brownfield exploration, leveraging historical data to identify additional drill targets [6][10] - Exploration drilling is planned at depth to extend mineralization and enhance the pending resource [5][6]
Greenhawk Options Its Greenland Properties and Cancels Outstanding Stock Options
Globenewswire· 2025-05-21 23:35
Core Viewpoint - Greenhawk Resources Inc. has entered into an Option and Joint Venture Agreement with 1531323 BC Ltd. to advance the exploration and development of its Greenland properties, specifically the Storø and Qingaaq mineral exploration licenses [1][2]. Financial Terms - Under the Option Agreement, 1531323 BC is granted an option to acquire an 80% interest in the Properties for an upfront payment of $100,000 and a commitment to incur $1,400,000 in expenditures over 24 months [2]. - The expenditure schedule includes a minimum of $450,000 within 6 months, $350,000 within 12 months, $300,000 within 18 months, and $300,000 within 24 months [3]. Project Details - The Storø project covers an area of 12 km² and has an inferred mineral resource estimated at 885,000 tonnes, grading 3.4 g/t Au, totaling approximately 95,000 ounces of gold [4]. - The mineral resource has a cut-off grade of 0.8 g/t Au for open-pit material and 2.5 g/t Au for underground resources [4]. - The Qingaaq license surrounds the Storø project and covers approximately 540 km² [4]. Management and Future Plans - 1531323 BC will manage the operations of the Properties during the Option Agreement period and intends to enter into a management services contract with Greenhawk for advisory support [5]. - Greenhawk is actively pursuing additional property acquisitions and opportunities in the mineral exploration and resources sector [5]. Stock Options - The company has cancelled a total of 8,600,000 stock options, which include options with exercise prices of $0.27 and $0.20, expiring in 2025 and 2026 respectively [6].
Canterra Minerals Step-Out Drilling Hits High-Grade Zone of 6.77% CuEq over 5.35m Beyond Current Buchans Resource, Newfoundland
Newsfile· 2025-05-20 11:00
Core Insights - Canterra Minerals Corporation has announced significant drilling results from its Buchans Project, highlighting the discovery of high-grade mineralization that extends beyond the current resource limits [1][3][4]. Drilling Results - The first drill hole, H-25-3539, intersected 6.77% copper equivalent (CuEq) over 5.35 meters, including 8.88% CuEq over 2.00 meters, indicating a strong extension of the high-grade Two Level mineralization [6][7]. - The mineralization remains open in multiple directions, suggesting potential for further resource delineation [7][8]. - The second mineralized interval from 225 meters to 243 meters extends known mineralization approximately 50 meters below the current resource [7]. Future Exploration Plans - Canterra plans to continue its 10,000-meter drilling campaign in 2025, focusing on testing extensions of the Two Level mineralization [3][4]. - The company is also conducting Deep 3DIP geophysical surveys to identify additional drilling targets [3]. Project Overview - The Buchans Project is an advanced critical minerals project covering 92.24 square kilometers, adjacent to the past-producing Buchans Mine, with significant undeveloped mineral resources [12][21]. - The Lundberg resource includes in-pit indicated mineral resources totaling 16.8 million tonnes, containing substantial amounts of copper, zinc, lead, silver, and gold [12]. Investor Relations - Canterra has engaged Digitonic Ltd. for an investor marketing campaign to enhance visibility within the investment community, with a budget of US$10,000 [18][19].
The Future Is Golden at Grey Fox
GlobeNewswire News Room· 2025-05-07 22:53
Core Insights - McEwen Mining Inc. has reported significant drilling results from the Grey Fox Project, indicating a promising increase in gold resources and the discovery of a new exploration corridor at depth [2][3][7] Resource Update - The current resource at Grey Fox consists of 1,538,000 gold ounces at an average grade of 3.64 g/t Indicated and 458,000 gold ounces at 3.30 g/t Inferred [3][11] - The Gibson Zone accounts for approximately 18% of the Indicated resource and 50% of the Inferred resource [11] Drilling Results - Notable drill results include hole 25GF-1539, which returned 12.4 g/t gold over 10.7 m, including a high-grade interval of 27.9 g/t gold over 4.5 m [7][24] - Hole 25GF-1548 returned 4.0 g/t gold over 30.1 m, indicating a potential thickening of mineralization [7][27] - New mineralization has been identified at the Grey Fox South Zone, with drillhole 25GF-1537 returning 6.2 g/t gold over 7.8 m and 4.4 g/t gold over 16.0 m [7][36] Exploration and Future Potential - Ongoing drilling is focused on expanding the known resource and identifying new discoveries below the current endowment [3][12] - The exploration efforts are supported by geophysical surveys aimed at enhancing the understanding of potential new mineralization [12][15] - The results from the drilling campaign may indicate the presence of Black Fox style mineralization below Grey Fox, which could lead to additional resource development [40] Management Commentary - CEO Rob McEwen expressed confidence that Grey Fox will become a cornerstone asset for the company in the future [43] - The company has received the Closure Plan Permit for the Stock Project, with production anticipated to begin in 2026 [44]