Mineral Resource Estimation
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Prime Mining Reports Q2 2025 Financial and Operating Results
Globenewswire· 2025-08-12 01:03
Core Viewpoint - Prime Mining Corp. reported strong operational and financial results for Q2 2025, highlighting a significant increase in cash reserves and a proposed acquisition by Torex Gold, which offers immediate value to shareholders while reducing development risks [2][9]. Corporate Highlights During the Quarter - The company closed the quarter with CAD 32.7 million in cash and equivalents, a substantial increase from CAD 19.1 million at the end of 2024 [14]. - Prime Mining exercised 97% of its June warrants, contributing to the increase in cash reserves [2][14]. - The selection of Ausenco as the lead engineer for the Preliminary Economic Assessment (PEA) of the Los Reyes project was announced [3][8]. Project Highlights - The Los Reyes Gold-Silver Project is a high-grade, low-sulphidation epithermal project located in Sinaloa State, Mexico, with significant exploration activities ongoing [18]. - The company has invested CAD 66.7 million in direct exploration activities since acquiring Los Reyes in 2019, completing over 221,000 meters of drilling [18]. - An updated resource estimate as of October 15, 2024, indicated a total indicated resource of 1.49 million ounces of gold and 53.99 million ounces of silver [21][28]. Financial Performance - For the six months ended June 30, 2025, the company reported a loss of CAD 6.17 million, an improvement from a loss of CAD 11.94 million in the same period of 2024 [14]. - The loss per share decreased from CAD 0.08 in 2024 to CAD 0.04 in 2025 [14]. - Total assets increased to CAD 46.93 million from CAD 33.18 million at the end of 2024 [14]. Acquisition Details - On July 28, 2025, Prime Mining announced a definitive agreement for acquisition by Torex Gold, where shareholders will receive 0.060 of a Torex share for each Prime share held [10][11]. - The transaction is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions [12][16]. Community Engagement and Environmental Stewardship - The company is actively engaged with local stakeholders and is committed to minimizing its environmental footprint while ensuring a positive impact on host communities [5][4]. - Prime Mining has released its inaugural sustainability report and is working on ESG programs to support community and environmental initiatives [6][5].
Carolina Rush Announces Refiling of Maiden Mineral Resource Technical Report for Brewer Gold-Copper Project
Newsfile· 2025-08-09 00:00
Core Viewpoint - Carolina Rush Corporation has amended and refiled its Technical Report for the Brewer Gold-Copper Project following a review by the Ontario Securities Commission, addressing compliance with NI 43-101 standards [1][2]. Summary by Relevant Sections Technical Report Amendments - The amended Technical Report includes an updated in situ mineral resource statement with the following details: - Indicated resources: 6,167 thousand tonnes at an average grade of 0.97 g/t Au and 1,266 ppm Cu, totaling 192 thousand ounces of Au and 16,671 thousand pounds of Cu - Inferred resources: 8,828 thousand tonnes at an average grade of 0.74 g/t Au and 425 ppm Cu, totaling 210 thousand ounces of Au and 8,279 thousand pounds of Cu [2][5]. Compliance and Author Changes - The report now complies with the current CIM Estimation of Mineral Resource and Mineral Reserves Best Practice Guidelines (2019) and has removed Patrick Quigley as a co-author to ensure independence, with Patrick Hollenbeck assuming sole authorship [5][6]. Metallurgical and Resource Constraints - A responsible metallurgical recovery assumption based on historical test work was applied, and the mineral resource was constrained within a conceptual open-pit shell to demonstrate reasonable prospects for eventual economic extraction [5][6]. Backfill Mineral Resource Statement - The backfill mineral resource statement remains unchanged, with a total of 11,900 thousand tonnes at an average grade of 0.36 g/t Au and 345 ppm Cu, totaling 139 thousand ounces of Au and 9,050 thousand pounds of Cu [8][11]. Company Overview - Carolina Rush Corporation is focused on advancing the Brewer Gold-Copper Project in South Carolina, which is located near OceanaGold's Haile Gold Mine and has potential for both near-surface and deep mineralization [14].
Aldebaran Reports the Results from Seventeen Infill Holes at the Altar Copper-Gold Project in San Juan Argentina
Globenewswire· 2025-08-07 11:00
Core Viewpoint - Aldebaran Resources Inc. has reported results from the remaining 17 holes of the infill drilling program at the Altar project in San Juan, Argentina, aimed at upgrading resource classifications from Inferred to Measured & Indicated categories [1][7]. Summary by Relevant Sections Drilling Results - Significant results include: - ALD-25-057EXT: 816.15 m of 0.53% CuEq from 184.00 m depth, including 410.00 m of 0.68% CuEq from 530.00 m depth [2] - ALD-25-081DEXT: 721.15 m of 0.41% CuEq from 144.00 m depth, including 112.15 m of 0.66% CuEq from 753.00 m depth [3] - ALD-25-183EXT: 736.00 m of 0.35% CuEq from 240.00 m depth, including 138.00 m of 0.61% CuEq from 838.00 m depth [4] - ALD-25-251B: 836.60 m of 0.44% CuEq from 247.00 m depth [5] - ALD-25-252: 561.50 m of 0.42% CuEq from 438.50 m depth [6] Future Milestones - The company plans to achieve several key milestones for the Altar project: - Preliminary Economic Assessment (PEA) in Q3-2025 - Mineral resource update in Q4-2025/Q1-2026 - Pre-Feasibility Study (PFS) in Q4-2026 [7] Geological Insights - The results from the infill drilling program indicate continuity and grade consistency of the mineralization at the Altar project, which is expected to enhance confidence in the upcoming mineral resource estimates as the project progresses towards the PFS stage [7]. 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 [15]. The company was spun out of Regulus Resources Inc. in 2018 and has the same core management team [15].
Brightstar Resources (A5J) 2025 Earnings Call Presentation
2025-08-05 03:00
Brightstar's Strategic Positioning and Growth - Brightstar has substantial Mineral Resources of 3.9 million ounces at 1.5g/t Au[22], positioning it uniquely among ASX developers - The company's strategic focus is now on organic growth through resource and reserve upgrades, along with production expansion[22] - The Laverton-Menzies DFS demonstrates compelling Stage 1 economics, with a LOM Free Cash Flow (FCF) of $461 million and an NPV8 of $316 million[22] - Brightstar aims for a Group production profile of over 200,000 ounces per annum by 2029, with the Sandstone processing plant construction planned for the second half of CY27 and first gold production in the second half of CY28[9] Laverton-Menzies Project and Production Expansion - Near-term production growth is targeted to reach approximately 70,000 ounces per annum[24] - The Laverton-Menzies DFS outlines a 5-year production plan, peaking at 91,000 ounces per annum and averaging around 70,000 ounces per annum, supported by Ore Reserves of 235,000 ounces at 1.7g/t Au[42] - The DFS projects an NPV8 of $316 million, an IRR of 73%, and a LOM FCF of $461 million at a spot price of $5,000/oz[42] - The project targets a low-cost operation with LOM unit costs of C1 $2,388/oz and AISC $2,991/oz, achieving payback within one year at the spot price[42] Sandstone Consolidation and Development - The acquisition of Aurumin Ltd consolidates the Sandstone district, establishing a district-scale open pit development opportunity[22] - The proforma Sandstone Mineral Resource grows to 2.4 million ounces at 1.5g/t Au[71] - A Pre-Feasibility Study (PFS) is underway, evaluating a 3-5Mtpa central Sandstone processing capacity, with results expected in the first half of CY26[73] - The company is targeting a Final Investment Decision (FID) for the Sandstone Hub by CY27[73]
Foran Mining (FMCX.F) Earnings Call Presentation
2025-08-01 12:48
North America's Leading Copper Developer Permitted, In Construction, Scalable & Unmatched Corporate Presentation August 2025 TSX: FOM | US OTC: FMCXF | FORANMINING.COM TSX: FOM | US OTC: FMCXF | FORANMINING.COM Forward Looking Statements This presentation contains certain forward-looking information and forward-looking statements, as defined under applicable securities laws (collectively referred to herein as "forward-looking statements"). These statements relate to future events or to the future performanc ...
Signature Resources Files NI 43-101 Technical Report for the Initial Mineral Resource for the Lingman Lake Project
Newsfile· 2025-07-31 12:00
Core Insights - Signature Resources Ltd. has filed a National Instrument 43-101 (NI 43-101) technical report for the Lingman Lake Mine Project, marking the initial mineral resource estimate for the project [2][9] - The report, prepared by Watts, Griffis and McOuat, indicates an indicated resource of 2.15 million tonnes at an average grade of 1.38 grams-per-tonne gold, totaling approximately 95,200 ounces of gold, and an inferred resource of 18.4 million tonnes at an average grade of 1.14 grams-per-tonne gold, totaling approximately 674,320 ounces of gold [3][4] Mineral Resource Estimate - The mineral resource estimate (MRE) is based on 240 diamond drill holes and 33,309 assayed samples, with a total drilling length of 43,222 meters [3][4] - The current resource pit shell extends 1.6 kilometers from west to east, with a maximum width of approximately 400 meters and a maximum depth of about 340 meters below the surface [3][4] Resource Sensitivity - The MRE is reported using a cut-off grade of 0.30 grams-per-tonne gold, with the potential ounces estimated to be approximately 531,000 ounces at a higher cut-off grade of 1.00 grams-per-tonne gold [5][6] - The resource is not highly sensitive to changes in the cut-off grade due to higher grades in the upper portion of the deposit [5] Future Exploration Plans - The company plans a targeted drill program of approximately 6,000 meters in 2025, focusing on expanding the mineral resource laterally, infilling gaps in existing drilling, and extending knowledge of the deposit at depth [7] - There is potential for further mineralization outside the current pit shell, which could be included in future resource updates [6][7] Property Overview - The Lingman Lake gold property consists of approximately 24,821 hectares, including historical mining structures and extensive drilling history [11] - The property has seen over 43,222 meters of drilling and has produced bulk samples averaging 19 grams per tonne of gold [11]
Ivanhoe Mines Issues 2025 Second Quarter Financial Results, Overview of Construction and Exploration Activities
Newsfile· 2025-07-30 20:43
Core Insights - Ivanhoe Mines reported a Q2 2025 profit of $35 million and adjusted EBITDA of $123 million, with Kamoa-Kakula contributing $128 million to EBITDA [1][9] - Kamoa-Kakula produced 112,009 tonnes of copper in Q2 2025, operating at 85% design capacity for Phases 1 and 2, and 30% above design capacity for Phase 3 [1][37] - The company is advancing its dewatering efforts at Kakula Mine, with Stage One completed and Stage Two set to commence imminently [1][49] - The startup of Africa's largest and greenest copper smelter is on schedule for September 2025 [1][68] - Recent increases in platinum and palladium prices have improved the net present value of the Platreef project by over 20% to approximately $3.8 billion [1][9] Financial Performance - Q2 2025 adjusted EBITDA was $123 million, down from $226 million in Q1 2025; profit after tax was $35 million compared to $67 million in Q2 2024 [9][1] - Kamoa-Kakula sold 101,714 tonnes of copper at an average realized price of $4.34/lb, with revenue of $875 million for the quarter [9][1] - The cost of sales per pound of payable copper sold increased to $2.85/lb in Q2 2025 from $1.87/lb in Q1 2025 [11][9] - Kamoa-Kakula's cash cost (C1) per pound of payable copper produced averaged $1.89/lb, up from $1.69/lb in Q1 2025 [11][9] Operational Highlights - Kamoa-Kakula's concentrators milled 3.62 million tonnes of ore in Q2 2025, producing 112,009 tonnes of copper, an 11% increase compared to Q2 2024 [37][9] - The Phase 3 concentrator achieved a record production of 40,608 tonnes of copper, operating at an annualized rate of 6.5 million tonnes, 30% above design capacity [46][12] - Kipushi operations sold 43,348 tonnes of zinc, up nearly 45% from Q1 2025, with a revenue of $97 million [11][9] - Platreef's Phase 1 project is nearing completion, with first ore feed expected in Q4 2025 [12][8] Project Development - The Kamoa-Kakula copper smelter is expected to start operations in September 2025, processing concentrates from all phases of the mine [68][1] - The company is targeting to provide an update on Kamoa-Kakula's recovery plan and ramp-up to steady-state operations by September 2025 [12][1] - The Platreef project is projected to be the lowest-cost primary platinum-group-metals producer globally, with a Phase 2 expansion expected to produce over 460,000 ounces of platinum, palladium, rhodium, and gold annually [12][8] Exploration Activities - Ivanhoe Mines is expanding the Makoko District copper discovery and exploring for new sedimentary-hosted copper discoveries across its extensive license areas in DRC, Angola, Zambia, and Kazakhstan [3][2] - The company has completed 86,000 meters of diamond drilling in the Makoko District, doubling the total copper contained in the area [16][3] - Drilling activities in Kazakhstan commenced in July 2025, with two rigs deployed for a 17,500-meter maiden diamond drilling program [16][3]
Exploits Discovery Advances Hawkins Gold Project and Strengthens Technical Team with Appointment of Dr. Natalie Pietrzak-Renaud
Newsfile· 2025-07-29 10:00
Exploits Discovery Advances Hawkins Gold Project and Strengthens Technical Team with Appointment of Dr. Natalie Pietrzak-Renaud July 29, 2025 6:00 AM EDT | Source: Exploits Discovery Corp. Toronto, Ontario--(Newsfile Corp. - July 29, 2025) - Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce progress on its exploration initiatives at the Hawkins Gold Project in Northern Ontario, including the completion of a project site visit, drill permit ap ...
Integral Metals Commences Mobilization for Diamond Drilling Program at the KAP Project
Globenewswire· 2025-07-28 12:00
Core Viewpoint - Integral Metals Corp. is initiating a summer diamond drilling campaign at its KAP Project in the Northwest Territories, aiming to expand and delineate gallium and zinc mineralization [1][2][4]. Group 1: Drilling Program Details - The Phase 4 drilling program will involve approximately 1,000 meters of diamond drilling over a 25-day period [2]. - This campaign is the first modern drilling effort at the KAP Project, following positive historical results and recent technical reinterpretations [2][4]. Group 2: Operational Aspects - GeoCraft Geological Services Corp. has been appointed as the primary geological contractor, while Critical Discoveries Corp. will provide camp, drilling, and mobilization services [3]. - Transportation of personnel, equipment, and camp infrastructure to the site has begun, with field operations expected to start by the end of July [3]. Group 3: Company Objectives and Future Plans - The CEO of Integral Metals emphasized that this drilling campaign is a significant milestone, aimed at verifying and expanding historical intervals to prepare for future mineral resource estimation [4]. - Further updates will be provided as drilling progresses [4]. Group 4: Company Background - Integral Metals Corp. is focused on mineral exploration for critical minerals, including gallium, germanium, and rare earth elements, with properties located in mining-friendly jurisdictions in Canada and the USA [7].
Plata Latina and World Copper Announce Acquisition of the Zonia Project by Plata Latina and Concurrent $17 Million Financing to Create a Development-Focused Copper Company to be Named "Edge Copper Corporation"
Newsfile· 2025-07-24 03:18
Core Viewpoint - Plata Latina Minerals Corporation and World Copper Ltd. have announced a definitive agreement for Plata Latina to acquire the Zonia Copper Project in Arizona, with a total transaction value of approximately $22 million, which includes $10.5 million in cash and shares, and a concurrent financing of $17 million to support the acquisition and development of the project [2][3][5]. Transaction Details - The acquisition will be executed through a court-approved plan of arrangement, with World Copper receiving $10.5 million in cash and shares that will result in them owning approximately 31.3% of Plata Latina post-transaction [3][4]. - The transaction implies a value of approximately $0.085 per share of World Copper, representing a premium of about 40% to the five-day volume-weighted average price and 71% to the 20-day volume-weighted average price as of July 22, 2025 [3][4]. - World Copper shareholders will receive approximately 0.3930 of a Plata Latina share for each World Copper share [4]. Financing and Development Plans - The concurrent financing involves a non-brokered private placement of units at a price of $0.10 per unit, aiming for gross proceeds of $17 million, which will be used for the cash consideration and to fund exploration and development of the Zonia project [5][22]. - The Zonia Copper Project is a past-producing open-pit mine that is expected to produce pure copper cathode on-site, with significant exploration potential on additional claims [7][8]. Strategic Importance - The acquisition positions Plata Latina as a development-focused copper company, enhancing its ability to meet domestic demand for critical minerals in the U.S. [8]. - Zonia is located in Arizona, the largest copper producer in the U.S., which is strategically important for future resource development [9]. Management and Governance - Following the transaction, Plata Latina will appoint two directors from World Copper to its board, and the leadership team will include Gilmour Clausen as CEO and Letitia Wong as President [11]. - Both companies' boards have unanimously recommended the transaction to their respective shareholders [14][15]. Regulatory and Approval Process - The transaction requires approval from a two-thirds majority of World Copper shareholders and a majority of Plata Latina shareholders, along with customary closing conditions [17][20]. - The transaction is expected to close in October 2025, subject to regulatory approvals and completion of the concurrent financing [20].