Orogenic Gold
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Copper Quest Signs Auxer Gold Property Option Agreement To Expand US Operations
Globenewswire· 2026-02-11 12:00
Core Viewpoint - Copper Quest Exploration Inc. has entered into an Option to Purchase Agreement to acquire 100% of the AUXER Gold Property in Idaho, enhancing its exposure to gold and copper assets in North America [1]. Group 1: AUXER Gold Property Overview - The AUXER Gold Project is located in Bonner County, Idaho, approximately 4 miles northeast of Hope, covering 2,687 acres with 130 unpatented lode claims [3]. - The project is situated in a significant structural corridor within the Hope Fault system, indicating a strong geological potential for orogenic gold deposits [4]. - Historical exploration has shown exceptional gold grades, with surface samples reporting up to 21.0 g/t Au and underground workings averaging 9.42 g/t Au at an 18-meter depth [5]. Group 2: Exploration Potential - The AUXER Gold Project has not undergone historical drilling, with previous exploration limited to underground workings from the early 20th century, presenting a unique opportunity for modern exploration techniques [6]. - The project features a 7-kilometer strike length of mineralization and has multiple high-grade ore shoots, indicating potential for substantial underground mining operations [7]. - The property is permitted for drilling and re-establishing underground access, allowing for immediate exploration activities [7]. Group 3: Transaction Details - Under the Agreement, Copper Quest will pay a non-refundable fee of USD$30,000 and issue 2,000,000 common shares at a deemed price of $0.15 per share to acquire the property [11]. - The common shares will be escrowed with staged releases over 12 months, and the transaction is subject to a 30-day due diligence period and exchange approval [11]. Group 4: Market Context - Global demand for gold remains strong due to geopolitical uncertainty and inflation, while supply growth is limited, highlighting the strategic value of advancing new gold projects in secure jurisdictions [12]. - Copper Quest is positioned to contribute to significant gold discoveries with its acquisitions, including the AUXER Gold Project and the past-producing Alpine Gold mine [9][12].
Tinka Provides Exploration Update on Huwaymidan Gold Project in Saudi Arabia Including Completion of 3,400-Metre RC Drill Program
TMX Newsfile· 2026-01-12 12:00
Core Viewpoint - Tinka Resources Limited is advancing its exploration activities at the Huwaymidan gold property in Saudi Arabia, with promising surface results and an initial drilling program completed, indicating potential for a significant gold target in a proven gold belt [3][4][5]. Exploration Update - The Huwaymidan property is owned by Midad Al Mona Mining Company, with Tinka holding a 5% equity interest and a free-carried interest until mid-2027 [1][10]. - The exploration program has included systematic geological mapping, sampling, and a 340 line-kilometre ground magnetic survey, with over 500 rock samples assayed for gold and pathfinder elements [5][10]. - An initial 3,400 metre reverse circulation (RC) drill program was completed, consisting of 46 holes, targeting gold mineralization identified by surface sampling [5][7]. Geological Context - The Huwaymidan project is located in a region known for large orogenic-style gold deposits, with Maaden's Ar Rjum project (3.9 million ounces of gold) situated 30 km southeast [4][10]. - The geology of the area consists mainly of mafic volcanics and Proterozoic intrusions, with significant hydrothermal alteration and quartz veining observed during drilling [4][5][8]. Sample Results - Selective surface samples have shown high-grade gold, with quartz float samples grading up to 30.5 g/t and outcropping quartz veins grading up to 6.4 g/t [5][11]. - The exploration has identified two main target areas, Ibriz and Rawasi, with potential gold trends exceeding 5 kilometres [8][11]. Next Steps - Assay results from the drilling program are expected by late Q1 2026, with plans for a follow-up drill program in Q2 2026, contingent on the results [5][10].