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Sixty North Gold Announces Mine Development Update
Newsfileยท 2025-08-25 14:08
Core Viewpoint - Sixty North Gold Mining Ltd. is progressing towards operational readiness at the Mon Gold Mine, focusing on financing, development, and production plans while managing costs and operational strategies [1][10]. Expenditures - The company has invested a total of $6.2 million in the development of the Mon Gold Mine since 2017 [1]. - Direct operating costs during 2024 mining operations were $10,000 per day, equating to $143 per tonne of rock extracted [3]. Development - A total of 226 meters of development has been completed, accessing the A-Zone quartz veins, which historically yielded 15,000 tonnes of ore at a grade of 30 grams per tonne [2]. - The company plans to recover approximately 20,000 tonnes of the A-Zone vein using a mechanized rescue method to maximize extraction [5]. Plans - In 2026, the company plans to subdrift on both limbs of the A-Zone for a total of 137 meters, with extraction planned in four stopes [4]. - A 100 tonnes per day mill has been sourced for installation in spring 2026, with capital costs estimated at $1 million [6]. Labor and Operational Costs - Full production will require an increase in labor costs by 50% to around $15,000 per day, with consumables costs rising to nearly $5,000 per day [7]. Historical Context - The Mon Gold Mine previously extracted 15,000 ounces of gold from 15,000 tonnes of ore in the 1990s without a feasibility study [10].
District Receives Notice of Boliden's Termination of the Option Agreement on the Tomtebo and Stollberg Base Metal Properties
Newsfileยท 2025-08-25 06:00
Core Viewpoint - District Metals Corp. has received notice from Boliden Mineral AB regarding the termination of the Option Agreement for the Tomtebo and Stollberg base metal properties, resulting in District retaining full ownership of the Tomtebo Property while Boliden retains the Stollberg Property [1][2]. Group 1: Option Agreement Details - The Option Agreement, signed in October 2023, allowed Boliden to earn up to an 85% interest in the Tomtebo Property by spending up to CAD$10 million over four years [2]. - Following Boliden's withdrawal, District will maintain a 100% interest in the Tomtebo Property, while Boliden will keep a 100% interest in the Stollberg Property [2]. Group 2: Company Statements - The CEO of District expressed disappointment over Boliden's decision but acknowledged the positive partnership and technical progress made during the collaboration [4]. - District remains optimistic about the exploration results at the now fully owned Tomtebo Property, highlighting advancements in understanding the mineralized systems and potential for discovering new high-grade mineralization [5]. Group 3: Technical Information - All scientific and technical information in the release has been prepared or approved by the President and CEO of District, who is a qualified person under National Instrument 43-101 [6]. - The Tomtebo Property is located in the Bergslagen Mining District, situated between the historical Falun Mine and Boliden's Garpenberg Mine, with a geological trend that shows similarities to other significant mines in the area [11].
Newly Discovered Polymetallic Zone at Green Monster Project Shifts Focus of Drilling and Exploration Plan
Newsfileยท 2025-08-13 12:08
Core Viewpoint - Glenstar Minerals Inc. has discovered a new polymetallic zone at the Green Monster Project, prompting a shift in drilling and exploration plans following positive results from the recent drill program [1][3][6]. Exploration and Drilling Updates - The recent drill program in May 2025 revealed a robust polymetallic mineralization zone located 150 meters from the main target area, leading to a change in exploration focus [3][4]. - Hole GMST-4, initially intended to test a magnetic high, intersected a new zone approximately 10 meters wide with high-grade zinc (>30%) and significant assay results including 177 ppm silver (161.5 g/t), 523 ppm nickel, 91.9 ppm cobalt, and copper >0.36% [3][4][6]. - The mineralization was found at depths of approximately 131 to 142 meters within a complex rock unit disrupted by thrust faults, similar to the Eureka District in central Nevada [5][6]. Future Plans - Glenstar plans to expand the new hanging wall zone and test its continuation along strike and at depth in the upcoming Phase 2 exploration [6]. - The newly discovered zone significantly increases the target size of the project, indicating potential for further mineralization [6]. Project Background - The Green Monster Property consists of 35 federal lode claims covering around 700 acres in Clark County, Nevada, and has not seen drilling until the recent program [9][10]. - Initial groundwork in 2022 identified robust nickel-copper with highly anomalous cobalt, indicating several targets suitable for shallow drilling [9][10]. Marketing and Investor Relations - Glenstar has extended its marketing and investor awareness agreement with Altura Media Co. Inc. for CDN$150,000, aimed at enhancing visibility and engagement in domestic and foreign markets [11].
New Age Metals Genesis PGM-Cu-Ni Project, Alaska -- Exploration Update
Thenewswireยท 2025-07-29 12:30
Core Insights - New Age Metals Inc. has completed its 2025 exploration program at the Genesis PGM-Cu-Ni Project, which is 100% owned by the company and located in southeast Alaska [1][2] Project Overview - The Genesis PGM-Cu-Ni Project is situated approximately 65 km south of Glenallen and 265 km east of Anchorage, covering an area of 4,144 hectares of State of Alaska mining claims [1][2] - The project is accessible via the all-season paved Richardson highway and a high-capacity electric power line [2] - The mineralization includes chromate-hosted Platinum Group Metals (PGM) with values up to 2.4 g/t for both palladium and platinum, and nickel-copper (Ni-Cu) bearing sulphide mineralization with values up to 0.96% Ni and 0.58% Cu [2] Exploration Program - In July 2025, the company engaged Alaska Earth Sciences (AES) to conduct detailed mapping, sampling, and prospecting at the Sheep Hill area, focusing on Copper anomalies identified in previous sediment samples [4] - The exploration program includes a six-day field operation with a team of four, utilizing ATV access along maintained trails [5] - Geological mapping will be conducted at scales of 1:1,000 and 1:2,000, with litho-geochemical sampling following a 100 m x 100 m grid [5] Mineralization Potential - Known PGM mineralization extends over a distance of 9 km across the prospect, with target areas that have never been drilled [3] - Reef-style mineralization has been identified in outcrop for 2,000 meters along strike, with a true thickness of 40 meters [2] Company Background - New Age Metals is focused on the discovery and development of critical green metal projects in North America, with divisions in Platinum Group Elements, Lithium/Rare Elements, and Antimony-Gold [9][10] - The company is actively seeking joint venture partners for its Genesis PGE-Cu-Ni Project and other projects [15]
Antipa Minerals (AZY) Earnings Call Presentation
2025-07-24 23:30
Minyari Dome Project Overview - The Minyari Dome project has a pre-tax NPV7% of A$834 million at a gold price of A$3,000/oz [15], with an IRR of 52% at the same gold price [21] - The project's initial gold output is estimated at 13 million ounces, averaging 130,000 ounces per year for the first 10 years [21] - The capital cost for the project is A$306 million, including A$90 million for pre-production mining [21] - The project has a gold equivalent resource of 29 million ounces [21] Resource and Exploration - The Minyari Dome Mineral Resource is estimated at 24 million ounces of gold [15] - Antipa Minerals holds a dominant 100% owned Paterson Province landholding of over 4,100km2 [1, 15] - Phase 1 CY2025 growth-focused drilling program completed 59 holes for 12,243m [46] - The company has A$71 million cash position [15] Development and Mining - The mine schedule includes 302 Mt at 15 g/t Au, with initial open pit and underground mining [21] - The mining physicals include a 3 Mtpa throughput for 10+ years initial processing life [21] - The project anticipates average gold recoveries of 90% [28] Corporate and Financial - The company's market capitalization is A$366 million [104] - The company has a clean capital structure with nil debt [103, 104]
Fitzroy Minerals Provides Corporate and Exploration Update
Thenewswireยท 2025-07-16 13:15
Core Insights - Fitzroy Minerals Inc. is focusing on advancing its Buen Retiro and Caballos copper projects following successful exploration results in H1 2025 [1][2] - The company plans to divest its Polimet, Taquetren, and Cariboo projects to streamline operations and concentrate on core projects [6][8] Financing and Corporate Strategy - Fitzroy is funded for exploration and development work on core projects until 2027, with a strong treasury position following a recent financing of C$12.54 million [3][8] - The company aims to drive value on a per-share basis by concentrating on the Buen Retiro and Caballos projects, which have shown the best results to date [3][4] Buen Retiro Project Update - The 2025 exploration program at Buen Retiro will include 12,000 to 14,000 meters of drilling, with two diamond drill rigs currently active [7][9] - Initial results indicate the presence of near-surface copper mineralization, and the company plans to add a reverse circulation drill rig to expedite exploration [4][10] Caballos Project Update - Exploration at Caballos is progressing, with plans to add additional drill rigs to enhance drilling efforts [5][14] - The company is investigating geophysical methods to identify concealed mineralization beneath younger volcanic rocks [15][16] Polimet Project Update - Phase I drilling at Polimet totaled 2,486.4 meters across 12 drill holes, revealing multiple mineralized structures [17][22] - Initial results show promising copper and gold grades, with potential for high-grade zones along structural trends [20][21] Next Steps - Future drilling at Polimet will prioritize the San Pedro Trend and other key target zones to delineate high-grade shoots and contribute to a maiden resource [22][24]
Revival Gold Announces Upsize of Financing for a Total of $27 Million
GlobeNewswire News Roomยท 2025-07-14 18:32
Core Viewpoint - Revival Gold Inc. has announced an upsized strategic placement with EMR Capital Management Limited, raising a total of US$11.3 million (C$15.4 million) through the sale of 32,069,531 common shares at C$0.48 per share [1][2][3] Group 1: Strategic Placement Details - EMR's pro-forma interest in Revival Gold is expected to be approximately 12.00% upon closing, assuming full subscription of the Concurrent Offering [2] - The EMR Strategic Placement includes customary anti-dilution rights and the right to nominate a director to the Board of Directors [2] - The total raise has been upsized to accommodate significant demand, allowing the company to advance its projects [3] Group 2: Concurrent Offering - The company has also upsized its non-brokered private placement to up to C$11.6 million, issuing up to 24,180,469 common shares at the same price of C$0.48 per share [4] - The Common Shares under the Concurrent Offering will be offered to purchasers in Canada and may also be issued to purchasers outside Canada, including the United States, under applicable regulations [5] Group 3: Use of Proceeds - Net proceeds from both the EMR Strategic Placement and the Concurrent Offering will be used to advance the ongoing exploration and development of the Mercur and Beartrack-Arnett projects, as well as for general working capital [6] Group 4: Closing Conditions - The EMR Strategic Placement and Concurrent Offering are subject to customary closing conditions, including necessary regulatory approvals, with expected closing around July 29, 2025 [8]
Evergold Announces the Appointment of Alvin Jackson to the Board of Directors
Globenewswireยท 2025-07-10 11:00
Company Overview - Evergold Corp. is a TSX-V listed mineral exploration company with projects in British Columbia and Nevada [3] - The company has a successful track record in the junior exploration space, including the establishment of GT Gold Corp. and the discovery of significant mineral deposits [3] Leadership Changes - Alvin W. Jackson has joined the board of directors, bringing extensive experience in mineral exploration and development [1] - Jackson has previously worked on major mineral deposits and founded EuroZinc Mining Corp., which grew to a market capitalization of over $1.8 billion before being acquired [1] Strategic Projects - Key projects for Evergold include the Golden Lion property in BC's Toodoggone region and the DEM porphyry prospect near Fort St. James, both of which are considered to have considerable merit [2] - The company aims to leverage these properties as a strong foundation for growth [2] Financial Performance - The establishment of GT Gold Corp. led to the discovery of the Saddle epithermal vein and porphyry copper-gold deposits, which were sold to Newmont for a fully diluted value of $456 million, representing a 1,136% return on exploration outlays of $36.9 million [3]
Nova Pacific Provides Drilling Update at Lara Project
Newsfileยท 2025-06-06 12:30
Core Viewpoint - Nova Pacific Metals Corp. is advancing its Phase 1 exploration drill program at the Lara VMS Project, with a focus on confirming historical mineralization and exploring potential extensions [1][6]. Group 1: Drill Program Details - The Phase 1 drill program aims to complete approximately 8,500 metres of drilling across 39 holes, with 4,953 metres already completed in 21 NQ-sized diamond drillholes as of now [3][5]. - A second drill rig has been added to accelerate the drilling process, enhancing the efficiency of the program [2][5]. - Visible massive sulphide and sulphide vein mineralization have been identified in logged drill cores within altered felsic volcanics of the Sicker Group [3]. Group 2: Assay Results and Objectives - Seven drillholes have been sampled and sent to ALS Geochemistry for analysis, with four samples prioritized for rush assaying [4][5]. - The primary objectives of the Phase 1 program include confirming the presence and extent of historical mineralization and demonstrating the potential for expansion along the Coronation Trend [6]. Group 3: Stock Options and Community Engagement - The company has granted 650,000 incentive stock options to consultants and advisory board members, each exercisable at a price of $0.14 per share for up to five years [8]. - Nova Pacific emphasizes early engagement with First Nations communities to ensure that exploration activities are well-coordinated and supported, aiming for mutually beneficial partnerships [10]. Group 4: Company Overview - Nova Pacific is focused on the Lara VMS Project, which has a significant historical resource rich in critical and precious metals, located near excellent infrastructure [11]. - The company's strategy includes verification and exploration drilling, along with the completion of an updated mineral resource estimate [11].
Inventus Reports Average Grade and Thickness of 3.84 gpt Gold Over 1.82 Metres from Grade Control Drilling at Its 007 North 5,000-Tonne Bulk Sample Site
Globenewswireยท 2025-06-04 11:00
Core Insights - Inventus Mining Corp. has reported positive drilling results from its first planned 5,000-tonnes bulk sample site at the Pardo Gold Project, indicating strong potential for gold mineralization [1][3][5] Drilling Program Details - The grade control drilling program for the first bulk sample site, 007 North, has been completed, with a total of 68 holes drilled over 623 metres [3] - The drilling outlined approximately 5,000 tonnes of material with an average grade of 3.84 grams per tonne (gpt) gold and an average thickness of 1.82 metres [3][7] - Notable drill intercepts include 12.92 gpt gold over 1.49 metres and 9.76 gpt gold over 1.76 metres, among others [7] Future Plans - The company plans to advance to the next phase of the program, which includes finalizing a milling agreement and initiating the extraction of the first 5,000 tonnes [5] - Additional drilling is planned to define the remaining 30,000 tonnes of the bulk sample program [5] Company Overview - Inventus Mining Corp. is focused on mineral exploration and development in the Sudbury mining district, with a 100% interest in the Pardo Paleoplacer Gold Project [6] - The Pardo project is noted as the first significant paleoplacer gold discovery in North America [6]