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Fitzroy Minerals Announces Closing Of Final Tranche Of Non-Brokered Life Offering And Concurrent Private Placement
Thenewswire· 2025-07-09 21:05
Core Viewpoint - Fitzroy Minerals Inc. has successfully closed the second and final tranche of its non-brokered private placement, raising a total of approximately $12,000,000 through the issuance of 40,000,000 common shares at a price of $0.30 per share [1][3]. Group 1: Private Placement Details - The final tranche of the LIFE Offering involved the issuance of 23,333,333 shares, generating gross proceeds of about $7,000,000 [1]. - The total gross proceeds from the LIFE Offering and a concurrent private placement amount to $12,000,000 and $540,000 respectively [1][3]. - The securities from the LIFE Offering are not subject to a hold period under Canadian securities laws, while those from the concurrent offering are subject to a four-month hold period [2][3]. Group 2: Use of Proceeds - The proceeds from the private placement will be allocated to exploration activities and property commitments for the Buen Retiro and Caballos projects, as well as for general administrative costs and working capital [4]. Group 3: Finder's Fees and Warrants - The company will pay a total of $940,000.02 in finder's fees and issue 3,133,330 finder's warrants in connection with the private placement [6]. - Each finder's warrant allows the holder to acquire one common share at a price of $0.50 for two years following the final tranche [6]. Group 4: Related Party Transactions - Participation by Clariden Capital Ltd., associated with the company's chairman and a director, constitutes a related party transaction, exempt from formal valuation and minority shareholder approval [7][8].
Blue Star Mobilises Field Crews and Receives Final DIG Payment
Newsfile· 2025-07-09 12:00
Core Viewpoint - Blue Star Gold Corp. is initiating its 2025 Phase I Surface Exploration Program in the High Lake Belt, Nunavut, focusing on advancing drill-ready targets and exploring high-impact gold and critical mineral targets [1][4]. Financial Support - The company has received the final $125,000 payment of a $250,000 exploration grant from the Government of Nunavut's Discover, Invest, Grow (DIG) program, totaling $500,000 received from the program to date [2][5]. Ongoing Field Activities - The field team is focused on building confidence in drill-ready targets, particularly around the Flood Zone deposit, and will conduct detailed mapping and channel sampling of newly exposed mineralization [4][5]. - A continuation of the Loupe time-domain electromagnetic (EM) survey will be conducted to investigate anomalous responses identified in previous surveys [6]. 2025 Exploration Program Details - Phase I is a low-expenditure initiative targeting areas within 1,000 meters of the Flood Zone gold deposit, with a focus on detailed mapping and sampling to support potential resource extension [5][9]. - Additional activities include geological mapping, prospecting, and follow-up work on various targets, including Nutaaq and South Zones [7][8]. Historical Sampling Insights - Initial field orientation traverses identified visible gold in untested veins at the Nutaaq target, with a grab sample returning 23 g/t gold, and historical samples in the area showing values of 29, 35, and 78 g/t gold [10][11]. Company Overview - Blue Star Gold Corp. is focused on mineral exploration in Nunavut, holding 300 square kilometers of land with significant high-grade gold resources and numerous exploration targets [15].
Class 1 Nickel Commences 2025 Exploration Program at the River Valley PGE-Cu-Ni Project, Ontario, Canada
Globenewswire· 2025-07-09 11:30
Core Viewpoint - Class 1 Nickel and Technologies Limited has launched its 2025 summer exploration program at the River Valley PGE-Cu-Ni Project, which is expected to enhance its portfolio focused on critical minerals such as PGE, copper, and nickel [1][4]. Group 1: Exploration Program Details - The 2025 field exploration program will focus on geological mapping, sampling, and ground-truthing of targets identified from a recent 254 line-kilometer VTEM™ Plus survey [2][10]. - The exploration will include detailed examination of known sulphide occurrences and will report results as they become available [2][10]. - The program aims to validate geophysical targets developed from the VTEM™ Plus survey, particularly along the Crerar PGE Trend [3][10]. Group 2: Project Overview - The River Valley PGE-Cu-Ni Project spans approximately 2,916 hectares and is located about 65 kilometers northeast of Sudbury, Ontario, featuring known PGE-bearing sulphide mineralization [1][4]. - The project is underlain by gabbroic to anorthositic rocks of the Paleoproterozoic River Valley Intrusion, with a focus on targeting productive Marginal and Inclusion-Bearing zones [4][14]. - The project is strategically positioned near the advanced River Valley Palladium Project being developed by New Age Metals Inc., providing additional exploration upside [1][4]. Group 3: Geophysical Survey Insights - A helicopter-borne VTEM™ Plus survey was conducted in March 2025, acquiring approximately 254 line-kilometers of geophysical data [7]. - The survey utilized advanced geophysical sensors, including a versatile time domain electromagnetic system and a horizontal magnetic gradiometer [7]. - The results from the survey will inform the summer exploration program, which includes geophysical ground-truthing and mapping [10][11].
Evergold Enhances the Copper Potential of its Golden Lion Property in BC’s Toodoggone Region by Acquiring 100% of the Copper King Inlier Prospects, Plans Share Consolidation
Globenewswire· 2025-07-09 11:00
Core Viewpoint - Evergold Corp. has entered into a binding letter of intent to acquire a 100% ownership interest in four claim groups totaling 173 hectares within its Golden Lion property, subject to regulatory approvals and a share consolidation process [1][2]. Acquisition Details - The acquisition involves a staged payment of $80,000 worth of post-Consolidation Evergold Shares over two years, with specific issuance dates and conditions [1]. - Upon exercising the option, Evergold will grant a 2.5% net smelter returns royalty to the Optionor, with the possibility to buy back 1.5 percentage points for $1.5 million [1]. Historical Context - The acquired tenures include the Goat, Chuck, Copper King, and Claw prospects, known collectively as the 'Copper King' property, which has historical references to copper mineralization from drilling in 1975 and rock sampling in 1984 [3]. - Previous reports recommended delaying further exploration until higher metal prices were observed, and no significant exploration has occurred since [3]. Strategic Importance - The acquisition is seen as a strategic move to enhance exploration activities in the Toodoggone camp, particularly following recent discoveries in similar geological settings [4]. - The company plans to focus exploration efforts on the new claims and other target areas within the Golden Lion property [4]. Deferred Commitments - All staged cash payment and work commitments for the DEM property have been deferred for one year at no cost to the company, allowing for future exploration based on financing availability [5]. Company Background - Evergold Corp. is a mineral exploration company listed on TSX-V, with a successful track record in the junior exploration sector, including a notable past project that yielded a significant return on investment [8].
Brunswick Exploration Has Now Identified Four Major New Dykes in 2025 at Mirage
Globenewswire· 2025-07-09 11:00
MONTREAL, July 09, 2025 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; “BRW” or the “Company”) is pleased to report the final set of results obtained as part of the 2025 Winter drill campaign conducted on its Mirage Project. The Mirage Project is located in the Eeyou Istchee–James Bay region of Quebec, approximately 40 kilometers south of the Trans-Taiga Road. This press release primarily focuses on the drilling work carried out in the eastern extension of the MR-6 dyke and the “S ...
Canterra Minerals Drills 4.07% CuEq over 4.20 m 800 m Northeast of the Buchans Lundberg Deposit and Begins Phase 2 Drill Program
Newsfile· 2025-07-09 11:00
Canterra Minerals Drills 4.07% CuEq over 4.20 m 800 m Northeast of the Buchans Lundberg Deposit and Begins Phase 2 Drill ProgramJuly 09, 2025 7:00 AM EDT | Source: Canterra Minerals CorporationVancouver, British Columbia--(Newsfile Corp. - July 9, 2025) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (FSE: DXZB) ("Canterra" or the "Company") is pleased to report three additional drill holes which returned high-grade drill results from its flagship Buchans Project in Newfoundland's C ...
Azimut Resumes Drilling to Expand the Antimony-Gold Zone on the Wabamisk Property, James Bay Region, Québec, Canada
Globenewswire· 2025-07-09 10:30
Core Viewpoint - Azimut Exploration Inc. is advancing its systematic diamond drilling program to delineate the Fortin antimony-gold Zone on its Wabamisk Property in Québec, Canada, following promising previous results and aiming to enhance the understanding of the mineralization potential in the area [1][2][3]. Company Summary - Azimut Exploration Inc. is a leading mineral exploration company with a strong reputation for target generation and partnership development, holding the largest mineral exploration portfolio in Québec [18]. - The Wabamisk Property is a wholly owned project covering 662 claims over an area of 350.5 km², strategically located near other significant mineral deposits and infrastructure [11]. - The company is also advancing other projects, including the Elmer Gold Project, which has indicated and inferred resources of 311,200 ounces and 513,900 ounces of gold, respectively [19]. Drilling Program Details - The current drilling program aims to define the Fortin Zone over a 1.5-kilometre strike and down to 200 metres vertically, with a minimum of 5,000 metres planned for completion by August [6]. - A second phase of 5,000 metres will follow to infill and expand the mineralized zone, focusing on high-grade gold potential at depth [6]. - Preliminary results from channel sampling have shown significant antimony and gold grades, with peak values of 36.5 g/t Au and 13.4% Sb [5][6]. Mineralization Insights - The Fortin Zone is characterized by a multi-kilometre-long antimony-gold-bearing feldspar porphyry sill hosted in sheared metasediments, with continuity of antimony mineralization confirmed over a strike length of at least 1.5 kilometres [2][3]. - The mineralized system is primarily hosted in an east-west striking, subvertical feldspar porphyry intrusive sill, with antimony-rich systems being unusual in the Archean settings of Québec [13]. Market Context - The price of antimony has surged to US$60,000 per tonne due to supply shortages, with China accounting for 60% of global production, highlighting the strategic importance of antimony as a critical mineral [10]. - The ongoing supply constraints and trade disputes have increased the risk of supply disruptions, potentially leading to further price appreciation [10].
First Atlantic Nickel Expands RPM Zone Awaruite Nickel-Alloy (Ni₃Fe) Discovery: 400-Meter Northern Extension Yields 1.47% Nickel Concentrate Over 351 Meters in DTR Metallurgical Recovery Testing
Globenewswire· 2025-07-09 10:00
Core Insights - First Atlantic Nickel Corp. announced positive metallurgical test results from drill hole AN-24-05, confirming the extension of awaruite mineralization in the RPM Zone of the Atlantic Nickel Project [1][5][6] - The Phase 1 drilling program has defined a mineralized area of approximately 400 meters by 500 meters, with all four holes intersecting significant awaruite nickel mineralization [2][5][7] - Phase 2 drilling is currently underway to expand the mineralized footprint and further define the extent of awaruite nickel mineralization [14][15] Phase 1 Drilling Results - Drill hole AN-24-05 returned a continuous interval of 351 meters averaging 1.47% nickel and 1.53% chromium in magnetic concentrate, with a mass pull of 8.21% [4][5][6] - The total nickel recovery from AN-24-05 was 50.26%, highlighting the effectiveness of magnetic separation for upgrading awaruite nickel mineralization [5][6] - All four holes in Phase 1 returned consistent nickel grades ranging from 1.32% to 1.47% and mass pulls between 8.21% and 9.53% [2][7] Awaruite Mineralization Potential - The RPM Zone is located within a 30 km long ultramafic nickel belt, indicating significant district-scale potential for awaruite mineralization [5][16] - Awaruite's properties allow for smelter-free processing, which aligns with the U.S. Inflation Reduction Act's requirements for critical minerals [16][27] - The U.S. Geological Survey highlighted the potential of awaruite deposits to alleviate nickel concentrate shortages and provide a cleaner processing alternative compared to conventional nickel sources [17][19] Phase 2 Exploration - The Phase 2 drilling campaign aims to systematically expand the RPM Zone's mineralized area, with strategic step-out drilling in multiple directions [14][15] - Enhanced project infrastructure and equipment optimizations support deeper drilling capabilities, positioning the Phase 2 campaign for meaningful growth [15][27] - The findings from Phase 1 provide a solid foundation for the ongoing exploration efforts, with all holes ending in mineralization and remaining open in all directions [7][14]
Collective Metals Announces Termination of Princeton Option Agreement
Globenewswire· 2025-07-08 21:44
Core Viewpoint - Collective Metals Inc. has terminated its option to acquire a 70% interest in the Princeton Project due to a detailed review of the property and current market conditions [1][2]. Company Overview - Collective Metals Inc. is a resource exploration company focused on precious metals exploration in North America [3]. Option Agreement Details - The terms of the Option Agreement were initially announced on May 10, 2023, and the decision to terminate was made after considering the current market conditions and commodity prices [2]. Future Plans - The company is currently conducting due diligence investigations on additional prospective mineral properties [2].
Atomic Minerals Announces Share Consolidation & Debt Settlement
Newsfile· 2025-07-08 18:20
Core Viewpoint - Atomic Minerals Corporation is recommending a consolidation of its common shares at a ratio of two pre-consolidated shares for one new post-consolidated share to enhance flexibility and position the company for long-term growth [1][4]. Share Consolidation - The company currently has 58,331,591 common shares issued and outstanding, which will reduce to approximately 29,165,795 shares post-consolidation [2]. - The company's name and stock symbol will remain unchanged, but the CUSIP and ISIN numbers will be updated. Fractional shares will be rounded up or cancelled based on specific thresholds [2]. Debt Settlement - The company plans to settle up to $350,000 of outstanding debts by issuing up to 7,000,000 common shares at a price of $0.05 per share on a post-consolidated basis [3]. - After the consolidation and debt settlement, the total number of common shares is expected to be approximately 36,165,795 [3]. Company Strategy - The CEO of Atomic Minerals Corporation emphasized the importance of share consolidation in negotiating favorable terms for potential acquisitions and funding for future projects [4]. - The company is focused on exploring underappreciated regions with geological similarities to areas with previous uranium discoveries, aiming to capitalize on these opportunities [5][6].