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SAGA Metals Announces Brokered LIFE Offering for Gross Proceeds of up to C$5 Million
Globenewswire· 2025-11-12 22:51
Core Viewpoint - SAGA Metals Corp. has announced a private placement offering to raise between C$3,000,000 and C$5,000,000 to fund exploration activities and general corporate purposes, particularly focusing on its properties in Labrador, Canada [1][4]. Group 1: Offering Details - The private placement will consist of Units, Flow-Through Units (FT Units), and Charity FT Units, with each Unit priced at C$0.44, FT Units at C$0.50, and Charity FT Units at C$0.66 [8]. - Each Unit will include one common share and one warrant, while FT Units and Charity FT Units will consist of a flow-through share and one warrant [2][3]. - The offering is expected to close on December 5, 2025, subject to regulatory approvals [9]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for exploration of the Company's properties in Labrador, including the Radar Project, and for working capital [4]. - Gross proceeds from the sale of FT Shares will be used for eligible Canadian exploration expenses related to critical mineral mining [5]. Group 3: Company Overview - SAGA Metals Corp. focuses on the exploration and discovery of critical minerals essential for North America's supply security [11]. - The company’s Radar Titanium Project spans 24,175 hectares and has confirmed significant mineralization, while the Double Mer Uranium Project covers 25,600 hectares with notable uranium samples [11][12]. - SAGA also owns the Legacy Lithium Property in Quebec, developed in partnership with Rio Tinto, covering 65,849 hectares [12][13].
Maxus Mining Partners with Palliser Exploration and Commences Project Evaluation of Four Critical Minerals Properties
Globenewswire· 2025-09-23 12:00
Core Viewpoint - Maxus Mining Inc. has launched a 2025 exploration partnership with Palliser Exploration Ltd. to advance its four critical minerals projects in British Columbia, Canada [1][2][3]. Project Summaries Quarry Project - The Quarry Project spans 2,632 hectares and is located approximately 46 kilometers northwest of Germansen Landing. Historical sampling has shown high-grade potential with assays of 20% Sb, 0.89 g/t Au, 3.8% Cu, 42.5% Pb, and 0.65 g/t Ag [5][6][26]. - The site has reliable year-round access, facilitating ongoing exploration initiatives [5]. Hurley Project - The Hurley Project consists of two blocks located near Gold Bridge, with significant historical gold production in the area. Soil sampling indicates a strong geochemical correlation between gold and associated elements [6][8]. - The Hurley East Block has reported high-grade intervals, including 19.2% Sb and 2.16 g/t Au over 0.5m from nearby drilling campaigns [7][9][26]. - The Hurley West Block features quartz-calcite veins with an average grade of 8.9% antimony [11]. Lotto Project - The Lotto Tungsten Project covers 426 hectares and is located in a mineral-rich district. It contains scheelite mineralization with a historical sample returning 10.97% WO3 [12][13][26]. Alturas Project - The Alturas Project includes two claim blocks with strong potential for antimony, silver, and gold. Recent discoveries have shown ultra-high-grade antimony with assays up to 69.98% Sb [14][16][26]. - The Alturas East property is near the Highland Surprise Mine, with historical surface sampling revealing grades of 6.56 ounces per ton Ag, 0.95% Cu, 3.90% Pb, and 9.32% Zn [18]. Company Overview - Maxus Mining Inc. is focused on locating, acquiring, and developing economic mineral properties in premier jurisdictions, with a portfolio of approximately 14,989 hectares across various projects [24].
Callinex Mines Inc. Receives $150,000 Grant and Additional Exploration Permits for Point Leamington Project, Newfoundland
Globenewswire· 2025-07-15 12:30
Core Insights - Callinex Mines Inc. has received a grant of up to $150,000 from the Newfoundland and Labrador Junior Exploration Assistance (JEA) Program for its Point Leamington Project, which is 100% owned by the company [2][8] - The company has also secured additional exploration permits for the Point Leamington Project, which includes a significant resource of gold, copper, zinc, and silver [2][4] - The rapid approval of permits, granted just two weeks after submission, highlights Newfoundland's reputation as a mining-friendly jurisdiction [3][8] Company Developments - The JEA grant will support Callinex's 2025 exploration plans, focusing on critical minerals and expanding the resource base of the Point Leamington Deposit [3][6] - The Point Leamington Project has an Indicated Mineral Resource of 5.0 million tonnes grading 2.5 g/t AuEq, totaling 402,000 ounces AuEq, and an Inferred Mineral Resource of 13.7 million tonnes grading 2.24 g/t AuEq, totaling 986,500 ounces AuEq [4][8] - The planned exploration campaign will utilize a two-year exploration permit for ground geophysics and diamond drilling, along with newly approved permits for surface field exploration [5][8] Industry Context - The JEA Program's financial support and efficient permitting process reflect Newfoundland and Labrador's commitment to fostering exploration and development of critical mineral resources [6][8] - Callinex Mines is positioned in one of the richest VMS and Gold Districts in Canada, enhancing its potential for significant mineral discoveries [9]
Glenstar Minerals Stakes 45 Claims in Mineral County, Nevada, and Initiates Direct Marketing Awareness Campaign
Newsfile· 2025-05-08 12:35
Core Viewpoint - Glenstar Minerals Inc. has staked 45 mineral claims in Mineral County, Nevada, covering 900 acres, and is initiating a marketing campaign to raise awareness about its exploration projects [1][8]. Group 1: Mineral Claims and Geological Assessment - The newly staked claims, known as the Wildhorse Claims, have historical workings dating back to the late 1800s and early 1900s, with the last staking occurring in 2011 [3]. - Preliminary geological assessments indicate the presence of east-dipping mineralized zones, with initial field examinations revealing a quartz veinlet zone containing over 1 gram per ton of gold, 1% copper, and 6,100 ppm of antimony [3]. - Additional areas of exposed copper mineralization were identified, suggesting multiple targets for further exploration [4]. Group 2: Geological Complexity and Economic Opportunity - The geology of the area is complex, featuring folded and faulted Paleozoic age rocks, with an intrusive mass of rhyolite located near known mineralization [5]. - The potential for discovering a large, well-mineralized skarn system exists, which can be effectively explored using various electric geophysical methods [6]. Group 3: Exploration Plans - The work program at Wildhorse will commence with detailed dry stream bed sediment sampling, followed by geological mapping and rock chip sampling, leading to a comprehensive geophysical survey to define drill targets [7]. Group 4: Marketing and Awareness Campaign - Glenstar has engaged Think Ink Marketing for a one-month marketing campaign, with a fee of USD $50,000 for the first month, aimed at updating stakeholders and introducing the company to a broader audience [8]. Group 5: Company Overview - Glenstar Minerals Inc. focuses on polymetallic minerals, which are critical for manufacturing electronics and energy technologies, and aims to explore and develop mineral properties in North America and globally [10]. - The company trades on multiple exchanges, including the Canadian Securities Exchange under the symbol "GSTR" [11].