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Pirate Gold Continues Its Regional Consolidation of the Treasure Island Project and Provides Drilling Update
TMX Newsfile· 2025-12-19 13:00
Core Insights - Pirate Gold Corp. has expanded its Treasure Island Project by adding 113 mineral claims, increasing the total strike length to over 90 km along the Valentine Lake Fault Zone, which is recognized as Canada's newest gold district [1][6][22] Drilling Program Update - The company is advancing a 50,000-meter drilling program with two active rigs, focusing on the Moosehead Eastern and Western trends, and has completed six holes to date [6][10] - Initial visual observations from the drilling indicate the presence of mineralization, including visible gold, arsenopyrite, and sphalerite across various drill holes [2][3][10] - A third drill rig is expected to mobilize in early 2026 to further enhance exploration efforts [6] Mineral Claims Acquisition - The company has executed agreements to acquire a total of 77 mineral claims covering 1,925 hectares, along with recent staking of an additional 36 claims covering 900 hectares [15][16] - The acquisition strategy aims to consolidate mineral tenure along the Valentine Lake Fault corridor, which is crucial for building value in the district [14][15] Exploration Strategy - The exploration focus is not limited to the Moosehead Zone; the company aims to identify other gold-bearing structures in the vicinity, supported by historical drilling results from the Stony Lake project [15][18] - The company emphasizes that the Moosehead Project should be viewed as part of a larger mineral system, similar to other orogenic gold deposits [15] Visual and Media Engagement - The company is actively engaging shareholders through media, including the "Pirate Gold Treasure Hunters" video series, which provides insights into the drilling campaign [6][10][7]
Luca Intersects 2.4 Metres of 12.2 g/t Gold at Santiago Deposit
Prnewswire· 2025-12-19 13:00
Recent drilling at the Santiago Deposit has successfully extended high-grade gold mineralization by more than 100 metres along strike toward the west, in the direction of the producing Perdido vein, located approximately 600 metres away (See Figure 1). These results, together with ongoing underground drilling at Perdido, support Luca's interpretation that the Santiago and Perdido veins may represent a single, continuous mineralized structure. Current drilling is designed to test the projected strike extensi ...
North Peak Confirms Historic Waste Rock Pile Mineralisation with Sonic Drilling and Completion of 2025 Reverse Circulation Exploration Drilling Program at Prospect Mountain, Nevada
TMX Newsfile· 2025-12-19 12:30
Core Viewpoint - North Peak Resources Ltd. has announced positive assay results from an aircore drill program on the waste rock pile at its Prospect Mountain Mine complex, indicating mineralization and potential for further exploration and metallurgical testing [1][4]. Summary by Sections Drill Program and Results - The company conducted an 11-hole aircore drill program to characterize the grade distribution of the waste rock pile, which contains approximately 240,000 short tons of material [2]. - The best assay result reported was 2.34 g/t Au and 68 g/t Ag from hole PM25-001S at a depth of 0-5ft, with weighted average values for each hole ranging from 1.28 g/t Au and 34 g/t Ag over 10ft in PM25-007S to 0.24 g/t Au and 18.8 g/t Ag over 20ft in PM25-002S [3][5]. Future Plans and Objectives - The company plans to continue metallurgical test work on the bulk sample from the recent drilling, including bottle rolls and column leach tests to evaluate the material's suitability for toll leaching with third-party operators [4]. - The main objective remains to identify economic quantities of gold mineralization within the Prospect Mountain Property, with a completed 2025 exploration drilling program consisting of 14 holes totaling 4,194m [4]. Property and Geological Context - The Prospect Mountain Mine complex is located in the Southern Eureka Gold Belt, where three styles of mineralization have been identified: Carlin style, Carbonate Replacement, and Porphyry Related Skarn [11]. - A Plan of Operations allows for surface exploration and underground mining of up to 365,000 tons per annum, with a detailed geological description available in the NI 43-101 Technical Report [12].
Roxmore Resources Begins Trading on the OTCQX Best Market in the United States
Accessnewswire· 2025-12-19 12:05
Core Viewpoint - Roxmore Resources Inc. has commenced trading on the OTCQX Best Market under the symbol 'GARLF', enhancing its visibility and accessibility for U.S. investors [1][2]. Company Overview - Roxmore Resources Inc. is focused on developing the Converse Gold Project, which is the largest undeveloped gold deposit not owned by a major mining company in Nevada, USA [4]. - The Converse Gold Project contains 5.57 million ounces (Moz) of Measured and Indicated Mineral Resources and 0.42 Moz of Inferred Mineral Resources, with specific grades of 0.539 grams per tonne (g/t) Au for Measured and 0.487 g/t Au for Indicated resources [4]. Market Position - The upgrade to the OTCQX Market signifies a commitment to transparency and adherence to high financial standards, which is beneficial for attracting U.S. investors [2]. - Roxmore's common shares will continue to trade on the Canadian Securities Exchange (CSE) alongside the new OTCQX listing [3].
Athena Gold Fully Funded for Drilling with $3.5 Million Non-Brokered Private Placement Complete
Accessnewswire· 2025-12-19 12:00
Core Viewpoint - Athena Gold Corporation has successfully closed the third and final tranche of its private placement financing, raising a total of CDN $3,500,028.99 through the issuance of flow-through and non-flow-through units [1] Financing Details - The third tranche raised proceeds of CDN $502,002.98 by issuing 7,142,900 flow-through units at CDN $0.07 each and 33,333 non-flow-through units at CDN $0.06 each [1] - The total amount raised in the first tranche was CDN $2,727,526.03, while the second tranche raised CDN $270,499.98 [1]
Hemlo Mining achieves initial gold pour at Hemlo gold mine in Canada
Yahoo Finance· 2025-12-19 09:46
Core Insights - Hemlo Mining has successfully completed its first gold pour at the Hemlo gold mine in Ontario, producing approximately 6,704 ounces of gold, marking one of the largest single pours at the site this year [1][2] Group 1: Company Performance - The company's plant performance, throughput, and metallurgical recoveries are aligning with its operational plan, indicating effective management and operational execution [2] - Hemlo Mining's president and CEO highlighted that the first gold pour represents a significant milestone for the company, achieved during a record gold-price environment while maintaining a focus on health, safety, and environmental standards [2][3] Group 2: Operational Strategy - Since the acquisition from Barrick Mining in November 2025, Hemlo Mining has initiated a targeted integration program emphasizing operational discipline, environmental responsibility, and a strengthened safety culture [3] - The company aims to position the Hemlo gold mine as a top-tier, responsibly managed Canadian gold mine with substantial potential for future expansion [4] Group 3: Future Outlook - Hemlo Mining plans to provide a detailed corporate update in early January 2026, which will include preliminary production results for the full year 2025 and additional information on ongoing operational initiatives [4]
Caledonia Mining Corporation Plc: Zimbabwe government amends proposed changes to the royalty and tax regimes
Globenewswire· 2025-12-19 07:00
Core Viewpoint - Caledonia Mining Corporation Plc is responding to proposed changes in the royalty and tax regimes for gold miners in Zimbabwe, which are expected to have no adverse impact on its financial outlook if gold prices remain below $5,000 per ounce [2][3]. Summary by Relevant Sections Proposed Changes - The Zimbabwe Minister of Finance announced revisions to the royalty and tax proposals in the 2026 National Budget, which are anticipated to be enacted by the end of the year [2]. - The royalty rate increase from 5% to 10% will now only apply if gold prices exceed $5,000 per ounce, a change from the previous threshold of $2,500 per ounce [5]. - The proposed change to tax treatment of capital expenditure, which would have spread the 100% upfront deduction over the project's life, has been withdrawn, maintaining the current tax structure [5]. - The 15% withholding tax on interest payable on offshore loans has also been withdrawn, which would have impacted the Bilboes Gold Project funding [5]. Company Perspective - The CEO of Caledonia expressed support for the revised provisions, indicating they reflect the Zimbabwean government's backing for the mining sector and future projects [3]. - The company expects no change in the financial outlook for its Zimbabwean assets due to these revisions, provided gold prices remain stable [2][3].
Alkane Doubles the Tested Depth Extent of the Storheden Deposit at Björkdal
Globenewswire· 2025-12-19 00:33
Core Viewpoint - Alkane Resources Limited has announced promising exploration results from the Storheden Deposit at its Björkdal Operation in Sweden, indicating significant potential for resource expansion and higher-grade ore production [1][4]. Exploration Results - The depth drilling at the Storheden Deposit has revealed gold-bearing quartz veins intercepted to a depth of 464 meters, more than doubling the previously tested depth of 200 meters [6]. - The drilling campaigns have extended the strike length of known mineralization to over 2.7 kilometers, with no indications of diminishing grade at depth [6]. - Significant assay results include 142.0 g/t gold over 0.60 meters and 34.3 g/t gold over 1.6 meters, showcasing the high-grade potential of the deposit [6][18][19]. Historical Context - The Björkdal deposit was discovered in 1983, with mining operations commencing in 1988. The mine has produced approximately 1.66 million ounces of gold since then [5][7]. - The current Measured and Indicated Mineral Resources at Björkdal are estimated at 20.35 million tonnes grading 2.14 g/t gold as of June 30, 2025 [6][7]. Future Plans - Alkane plans to recommence drilling in January 2026 to further define resources at Storheden and assess the potential for mining [27][28]. - The company will also continue exploration in the Eastern Extension area and the North extension of the Björkdal deposit, which shows no signs of diminishing gold endowment [29].
i-80 Gold Announces Lone Tree Plant Refurbishment Update; Study Highlights Material Increase in Margins and Short Payback Period
Prnewswire· 2025-12-19 00:05
Core Viewpoint - The refurbishment of the Lone Tree Plant is a significant step in i-80 Gold's strategy to transition from toll-milling to an owner-operator processing model, which is expected to enhance margins and free cash flow generation [1][3]. Development Plan - The refurbishment is part of a broader development plan aimed at establishing i-80 Gold as a mid-tier gold producer [1]. - The capital cost estimate for the refurbishment is $430 million, which includes $412 million for direct and indirect costs and $18 million for capital spares [4][17]. Engineering and Technical Aspects - The engineering study conducted by Hatch Ltd. confirms that the refurbishment will involve standard upgrades to improve operational efficiency with low execution risk [3]. - Approximately 30% of detailed engineering is complete, providing improved accuracy in capital cost estimates [3]. - The plant will have a nameplate capacity of 2,268 tonnes per day, processing both refractory and non-refractory materials [4][13]. Financial Projections - The transition to an owner-operated model is projected to reduce processing costs to about one-third, increasing margins by approximately $1,000 to $1,500 per ounce of gold [4][19]. - A potential payback period for the refurbishment is estimated at 12 to 24 months, depending on the grade processed and gold prices [4]. Timeline and Next Steps - Early works have commenced, and construction activities are expected to begin in the second half of 2026, with commissioning anticipated by the end of 2027 [4][22][23]. - The company aims to complete its recapitalization plan by the end of the second quarter of 2026 or earlier [1][19]. Environmental and Compliance Considerations - The refurbishment will include upgrades to meet new environmental compliance standards, such as a new mercury abatement circuit and a tailings filtration system [6][9]. - The company is on track to complete engineering designs for construction and environmental permits by the fourth quarter of 2025, with applications to be submitted in the first quarter of 2026 [20][22]. Company Background - i-80 Gold is focused on building a mid-tier gold producer in Nevada, leveraging its existing infrastructure and strategic asset portfolio [30]. - The Lone Tree property, acquired from Nevada Gold Mines in October 2021, includes significant existing infrastructure and has a history of production [24][30].
High Resolution Gravity Survey Targets Challenger Repeats
Accessnewswire· 2025-12-18 23:50
Core Insights - Barton Gold Holdings Limited has initiated a high-resolution airborne gravity survey around its Challenger Gold Project in South Australia, aiming to identify high-grade quartz vein lodes [1] - The survey targets gravity anomalies that may indicate geological structures similar to those found in the Challenger's high-grade gold lodes [1] - This initiative is part of the company's research and development efforts to explore historically under-explored areas and develop new geological models [1]