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Mirasol Completes the Sale of the Sascha-Marcelina Projects in Argentina for US$1.5 Million Plus Royalty
Globenewswire· 2025-12-09 23:31
Core Viewpoint - Mirasol Resources Ltd. has successfully completed the sale of its 100% owned Sascha Project to Andara Mining for approximately US$1.5 million, which will enhance its financial position and support ongoing exploration programs [1][2][6] Group 1: Sale Details - The Sascha Project is located in Santa Cruz province, Argentina, and the sale also includes the assignment of the Option to Purchase Agreement for the Marcelina Project to Andara Mining [1] - Mirasol retains a 1.5% Net Smelter Return (NSR) royalty on the Sascha-Marcelina Projects, with options for Pursuit Minerals to buy back portions of this royalty after commercial production begins [6] Group 2: Financial Implications - The US$1.5 million payment from the sale strengthens Mirasol's financial position and allows for the advancement of exploration programs [2] - Proceeds from the sale were used to repay CAD$2 million towards an outstanding shareholder loan [2][6] Group 3: Company Background - Mirasol Resources Ltd. is an exploration company with over 20 years of experience in operating, permitting, and community relations in Chile and Argentina [3] - The company is currently self-funding exploration at its flagship Sobek Copper-Gold Project while advancing a pipeline of early and mid-stage projects [3]
Fancamp Announces Intention to Launch Normal Course Issuer Bid
Globenewswire· 2025-12-09 23:01
Core Viewpoint - Fancamp Exploration Ltd. has announced a normal course issuer bid (NCIB) to repurchase up to 12,118,116 common shares, representing approximately 5% of its outstanding shares, as a strategy to enhance long-term shareholder value and address perceived undervaluation of its stock [1][3][2]. Summary by Sections Normal Course Issuer Bid (NCIB) - The Board of Directors has authorized the NCIB, which is subject to approval from the TSX Venture Exchange (TSX-V) [1]. - The NCIB is expected to commence around December 16, 2025, and will last for 12 months unless completed or terminated earlier [4]. - The purchases will be made on the open market at prevailing market prices, with the actual number and timing of shares purchased dependent on market conditions [2][3]. Management Commentary - Rajesh Sharma, President and CEO, stated that the NCIB reflects the belief that the current share price does not accurately represent the Corporation's value and future prospects, especially during the Spin Out process [2]. Financial Strategy - The Corporation views the repurchase of its shares as a suitable use of financial resources aimed at increasing long-term shareholder value [3]. - The NCIB is part of a broader strategy to enhance shareholder returns amid ongoing developments in the Corporation's business [3]. Additional Updates - Fancamp has entered into an amendment to an option agreement with Harfang Exploration Inc. to acquire up to an 80% interest in the Egan mineral property, pending TSX-V approval [6]. - The amendment specifies that shares issued to Harfang will be priced based on the volume-weighted average trading price over the preceding 10 trading days, with a minimum price of $0.064 per share [6]. Company Overview - Fancamp is focused on mineral exploration with interests in various high-potential projects across Canada, including copper, gold, zinc, and titanium [7]. - The Corporation holds significant interests in several mining operations and is developing advanced technologies for titanium extraction and waste recycling [8].
Fancamp Announces Intention to Launch Normal Course Issuer Bid
Globenewswire· 2025-12-09 23:01
Core Viewpoint - Fancamp Exploration Ltd. has authorized a normal course issuer bid (NCIB) to repurchase up to 12,118,116 common shares, representing approximately 5% of its outstanding shares, as a strategy to enhance long-term shareholder value and address perceived undervaluation of its stock [1][3][4] Group 1: Normal Course Issuer Bid (NCIB) - The NCIB is subject to approval from the TSX Venture Exchange and is expected to commence around December 16, 2025, lasting for 12 months or until completed [4] - The purchases will be made on the open market at prevailing market prices, with the actual number and timing of repurchases dependent on market conditions [2][3] - The Board believes that repurchasing shares is an appropriate use of financial resources to increase shareholder value [3] Group 2: Management Commentary - Rajesh Sharma, President and CEO, stated that the NCIB reflects the belief that the current share price does not accurately represent the company's future prospects, especially during the spin-out process [2] - The management team is focused on creating value through strategic interests in high-potential mineral projects and monetization opportunities [7][8] Group 3: Recent Developments - Fancamp has entered into an amendment to an option agreement with Harfang Exploration Inc. to acquire up to an 80% interest in the Egan mineral property, contingent on TSX-V approval [6] - The amendment specifies that shares issued to Harfang will be priced based on the volume-weighted average trading price over the preceding 10 trading days, with a minimum price of $0.064 per share [6]
Northern Lights Resources Announces Fully Allocated Upsizing of Non-Brokered Private Placement
Thenewswire· 2025-12-09 22:30
Core Points - Northern Lights Resources Corp. has increased its non-brokered private placement to C$400,000 due to strong investor demand [1] - Each unit in the offering consists of one common share and one common share purchase warrant, with the warrant exercisable at $0.10 for 36 months [1] - Proceeds from the offering will be allocated for exploration on the company's properties and general corporate purposes [1] Offering Details - No finders fees will be paid in connection with the offering [2] - The securities issued will be subject to a hold period of four months and one day from the closing date [2] Company Overview - Northern Lights Resources is focused on three key projects: Horetzky Copper Project, Pup Copper Project, and Secret Pass Gold Project [5] - The company also holds a 1% NSR royalty on the Medicine Springs Silver Project in Nevada [5] - Northern Lights Resources trades under the ticker "NLR" on the CSE and "NLRCF" on the OTC [6]
Midland Announces Closing of $3.0M Private Placement
Globenewswire· 2025-12-09 21:30
Core Points - Midland Exploration Inc. has completed a non-brokered private placement, issuing a total of 4,972,876 flow-through shares at $0.56 each and 550,000 common shares at $0.46 each, raising total gross proceeds of $3,037,811 [1][2] - Centerra Gold Inc. has exercised its right to maintain approximately 9.9% ownership by acquiring 550,000 shares as part of the private placement [2] - Insiders participated in the private placement, acquiring 443,500 flow-through shares for total gross proceeds of $348,360, which is classified as a related party transaction [3] - Following the private placement, Midland has 112,973,453 common shares issued and outstanding, and the transaction is subject to final acceptance by the TSX Venture Exchange [4] Financial Details - The total gross proceeds from the private placement amount to $3,037,811, with $348,360 raised from insider participation [1][3] - Finder's fees totaling $116,485 were paid to third parties in connection with the private placement [4] Company Strategy - Midland plans to use the proceeds from the private placement to fund exploration activities on its properties in Quebec and for general corporate purposes [2] - The company is focused on discovering new world-class deposits of gold and critical metals in Quebec and aims to build its portfolio through partnerships and additional agreements [5]
Sun Summit Announces Non-Brokered Private Placement of up to $7 Million
Newsfile· 2025-12-09 21:00
Core Viewpoint - Sun Summit Minerals Corp. is conducting a non-brokered private placement of up to 50 million charity flow-through shares at a price of $0.14 per share, aiming to raise up to $7 million for exploration activities [1][2]. Group 1: Private Placement Details - The private placement will consist of up to 50,000,000 charity flow-through shares priced at $0.14 each, with total gross proceeds expected to reach $7 million [1]. - The proceeds will be allocated for exploration of the JD, Theory, and Buck properties, as well as any other Canadian properties acquired by the company [2]. - The closing of the private placement is contingent upon approval from the TSX Venture Exchange and may involve finder's fees [4]. Group 2: Use of Proceeds - All gross proceeds from the private placement will be used to incur eligible "Canadian exploration expenses" qualifying as "flowthrough mining expenditures" under the Income Tax Act [2]. - The capital raised is intended to fully fund the company's 2026 exploration program and expedite the initial mineral resource estimate at the JD Project [3]. Group 3: Company Overview - Sun Summit Minerals is focused on discovering and advancing gold and copper assets in British Columbia, with key projects including JD, Theory, and Buck [6].
New Age Metals Options Magnet Lake Property Further Expanding the Bonanza Ridge Gold & Critical Metals Project, Kenora Mining District, Ontario
Thenewswire· 2025-12-09 14:35
Core Viewpoint - New Age Metals Inc. has entered into an option agreement to acquire the Magnet Lake Property, which consists of 55 mining claims totaling 1,147 hectares, located near Kenora, Ontario, enhancing its portfolio in the critical and precious metals sector [1][2][3] Acquisition Details - The Magnet Lake Property will be integrated into the Bonanza Ridge Gold and Critical Metals Project, reinforcing the company's position in the Kenora Mining District [2] - The acquisition includes a 2% net smelter return (NSR) royalty, which can be reduced to 1% for $1 million in cash [1] Exploration and Sampling Results - A due diligence site visit in October 2025 confirmed high-grade copper mineralization, particularly at the Gold Lake and Hollow Lake Prospects, with a notable grab sample returning 2.14% copper [5][6][19] - The property has excellent infrastructure, including road access and nearby power lines, and is located 25 km from Kenora, a significant economic hub [7][18] Strategic Positioning - The acquisition aligns with the Ontario Government's Critical Minerals Strategy, which aims to develop a world-class critical minerals jurisdiction [3][19] - New Age Metals holds a 12.2% stake in Metal Quest Mining Corp., which is also acquiring strategic positions in the Ring of Fire region, positioning the company to benefit from the growing critical metals market [4][19] Financial Terms of the Option Agreement - The option agreement includes a series of cash payments and share issuances over three years, starting with $10,000 and $25,000 in shares within 10 days of regulatory approval [21][22] - The agreement allows the company to terminate after fulfilling the first year's commitments [21] Industry Context - Copper has been designated a critical mineral by the Government of Canada since 2024, highlighting its importance in clean technologies and supply chain security [19] - The Kenora Gold District has a long history of high-grade mineralization and is recognized for its potential in the mining industry, with established infrastructure and a skilled workforce [20]
GoldHaven Resources Confirms High-Grade Copper Mineralization at Three Guardsmen Project
Globenewswire· 2025-12-09 14:00
Core Viewpoint - GoldHaven Resources Corp. has confirmed high-grade surface copper mineralization at its Three Guardsmen property in Northern British Columbia, indicating significant exploration potential for the company [1][15]. Property Overview - The Three Guardsmen property consists of 14 contiguous mineral tenures covering 16,234 hectares in the Atlin Mining Division, 100% owned by GoldHaven [4]. - The project is strategically located near Haines Junction in a geological area known for copper-magnetite skarns, with potential for associated gold and molybdenum mineralization [4][13]. Assay Results - A total of 126 surface rock samples were collected, with 25 samples exceeding 10,000 ppm (1% Cu) [7]. - Notable high-grade grab samples include: - Sample J647161: 15.85% Cu - Sample J647629: 12.75% Cu - Sample J647753: 12.65% Cu [7][10]. - The 2025 field program validated historical high-grade copper samples and discovered new high-grade mineralization, confirming widespread distribution across the property [8]. Geological Significance - High-grade copper is found in local pods dominated by bornite and chalcocite, extending over a strike length of more than 1 km, indicating the scale of the mineralization [9]. - Geological evidence suggests the presence of a nearby porphyry intrusion, which could be driving the metal system, enhancing the exploration potential of the project [13]. Exploration Strategy - GoldHaven's ongoing exploration strategy includes targeted geochemical surveys, structural mapping, and geophysical interpretation to define potential mineralized granitic intrusive centers [14]. Company Commentary - Rob Birmingham, CEO of GoldHaven, emphasized that the assay results represent a major milestone for the company, showcasing the strength of the mineralization system at Three Guardsmen and the exceptional upside potential as exploration continues [15].
IDEX Completes Maiden Drill Program at the Freeze Property, Idaho & Provides Program Update and Technical Discussion
Thenewswire· 2025-12-09 13:00
Core Insights - IDEX Metals Corp. has successfully completed its first drill campaign at the Freeze Property in Idaho, confirming the presence of a significant copper-bearing magmatic-hydrothermal system at the Kismet Breccia Target [1][3][5] Summary by Sections Drill Campaign Results - A total of 2,282 meters of drilling was conducted across 6 drillholes at the Kismet Breccia Target, with copper mineralization encountered in all holes [1][4] - The Kismet Breccia Complex has a lateral extent of 765 meters North-South and 135 meters East-West, with vertical continuity exceeding 500 meters, remaining open in all directions [4][6] Significant Discoveries - The final drillhole, KSMT25006, intersected the first intrusive-hosted mineralization on the Property, indicating a deeper magmatic-hydrothermal system [4][7] - Historical mineralization levels have been exceeded, with IDEX drilling returning 101 meters of 1.02% Cu from surface, compared to historical results of 40 meters at 0.83% Cu [6][20] Future Exploration Plans - The company plans to continue exploration at the Freeze Property, with a focus on understanding the connection between the Kismet Breccia and the North Breccia [5][20] - Additional drilling is anticipated in 2026, targeting high-priority areas based on the new project model developed from the recent drilling data [26][20] Technical Objectives - The primary goals of the drilling program were to confirm and expand the historical mineralization footprint and to explore for deeper porphyry-style copper deposits [5][6] - The results have established a cohesive picture of scale and continuity, reinforcing the potential for a major copper discovery at the Freeze Property [3][20]
Renforth Issues Gold & PGE Exploration Update in Quebec & Financing Announcement
Thenewswire· 2025-12-09 13:00
Core Insights - Renforth Resources Inc. is advancing exploration activities on its Parbec Gold deposit and Victoria Nickel Sulphide Polymetallic deposit, both located near Malartic, Quebec [1][12] Exploration Activities - The company is working on an underground bulk-sample program at the Parbec Gold deposit, which includes rehabilitating an existing decline to access mineralization [2] - Initial permitting submissions for the bulk-sample program are expected to be approved by late Q1 2026, allowing the company to apply for a temporary mining lease [3] - Surface stripping at Parbec has revealed a hinge-fold zone that will be further explored once weather conditions permit [4] Victoria Nickel Sulphide Polymetallic Deposit - Renforth's geological team is reviewing core samples from approximately 10,300 meters of drilling at the Victoria deposit, with plans to submit select core for platinum group element (PGE) assaying [5][6] - The company anticipates that platinum and palladium will be included in the next technical report following proper assaying of existing holes [6] Financing - Renforth plans to raise up to C$500,000 through a non-brokered private placement, with flow-through shares and hard dollar units priced at C$0.02 each [7] - Proceeds from the financing will be allocated to drilling at the Parbec gold deposit and the Victoria polymetallic system, as well as ongoing permitting and surface work [8] 2026 Technical Plans - In 2026, Renforth plans to drill approximately 7,500 meters at the Parbec Gold deposit and 10,000 meters at the Victoria Polymetallic deposit, with updates to resource estimates and technical reports [9][10] Company Overview - Renforth Resources is focused on advancing gold and polymetallic projects in Quebec's Abitibi mining district, with the Parbec Gold Deposit hosting 265,800 ounces of gold in the Measured and Indicated categories [12] - The Victoria Polymetallic Deposit has an initial NI 43-101-compliant inferred resource of 125 million tonnes grading 0.15% NiEq, indicating significant potential for various metals [13] - The company benefits from road access, hydro-electric power, and proximity to established mining infrastructure, positioning it to create shareholder value [14]