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New Mineralised Structures Found at Ontenu NE, With Assay Results up to 3.85g/t Au, 1.2% Cu, 603g/t Ag in Rock Chips
Newsfile· 2025-09-17 11:30
Core Insights - South Pacific Metals Corp. has announced the discovery of new mineralized structures at the Ontenu NE prospect within its Osena Project, with assay results showing up to 3.85g/t Au, 1.2% Cu, and 603g/t Ag in rock chip samples [1][3][5] Exploration and Assay Results - The exploration at Ontenu NE has recently pivoted, leading to the identification of several new mineralized structures that may represent upper levels of epithermal Au-Cu veins [3] - High assay results include: - 3.95g/t Au, 1.2% Cu, and 603ppm Ag from one sample - 7.69g/t Au in a 10-30cm wide vein in a sheared conglomerate outcrop - 9.34g/t Au and 272g/t Ag in a creek float rock sample [5][10] - The mineralized structures are associated with a >600m long Au-As soil anomaly and several Au-As (+Cu) soil anomalies extending up to 1,200m long [5][10] Project Overview - The Osena Project covers 738 km² and is strategically located adjacent to K92 Mining's Kainantu Gold Mine, which is a significant gold-copper mining operation [10][13] - The Ontenu Prospect is part of a larger mineralized corridor extending over 40 km northeast across the Kainantu District, with potential for large-scale copper-gold porphyry and epithermal vein targets [10][13] Future Plans - The company plans to commence drilling within the next month, targeting the identified epithermal Au-Cu veins based on ongoing mapping and sampling results [3][5]
Carolina Rush Partners with OceanaGold on the Brewer Gold-Copper Project
Newsfile· 2025-09-16 13:00
Core Viewpoint - Carolina Rush Corporation has entered into an Earn-In Option Agreement with OceanaGold Corporation for the Brewer Gold-Copper Project, allowing OceanaGold to earn an 80% interest through staged investments totaling US$20 million for exploration and property purchase [1][4]. Agreement Structure - The agreement allows OceanaGold to earn a 50% interest by funding US$8 million by December 31, 2027, and an additional 30% interest by funding another US$12 million by December 31, 2030, for a total of 80% interest [3][4]. - The agreement includes a provision for OceanaGold to exercise Carolina Rush's underlying Brewer Option at any time before it expires on December 31, 2030, which includes assuming historical environmental liabilities [4]. Joint Venture and Operations - Upon earning a 50% interest, a 50:50 joint venture will be formed, with Carolina Rush as the initial operator and a 10% unallocated cost allowance [4][5]. - If OceanaGold exercises the Brewer Option before spending the total US$20 million, Carolina Rush will be carried until that amount is spent [4]. Shareholder Approval - The agreement is contingent upon Carolina Rush shareholder approval, which will be sought at a Special Shareholder Meeting on October 21, 2025 [4][5]. - If approved, OceanaGold will advance US$150,000 for pre-drilling expenses and commit to a minimum of US$1.5 million within 12 months [4]. Company Background - Carolina Rush Corporation is focused on the Brewer Gold-Copper Project in South Carolina, which is underexplored and has potential for both near-surface and deeper mineralization [6]. - The Brewer Project is located 13 km from OceanaGold's Haile Gold Mine, which has a production guidance of 170,000-200,000 ounces of gold for 2025 [6].
South Pacific Metals Corp. - Interim Injunction against K92 Mining and the MRA is Upheld by National Court of Papua New Guinea
Newsfile· 2025-09-16 11:30
Core Viewpoint - The National Court of Papua New Guinea has upheld an interim injunction that protects South Pacific Metals Corp.'s subsidiary, Kainantu Resources Limited, from interference by K92 Mining and the Mineral Resources Authority regarding Exploration Licence EL2558 [1][2]. Group 1: Injunction Details - The injunction restrains K92 Mining and the MRA from actions that interfere with KRL's exclusive rights over EL2558, including sterilization drilling and infrastructure development [2][6]. - The National Court has ordered that the injunctive relief remain in place until further notice and has awarded costs in favor of SPMC [2][3]. Group 2: Legal Background and Objectives - SPMC initiated legal action due to repeated instances of trespass and interference by K92 Mining on EL2558, aiming to safeguard its legal rights and maintain the integrity of its exploration programs [3][4]. - EL2558 is a key exploration focus for the company and may serve as a potential site for tailings storage if exploration proves non-economic [3]. Group 3: Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four significant projects [5][8]. - The company's projects, including Anga and Osena, are located within the high-grade Kainantu Gold District, indicating potential for valuable mineralization similar to that of K92 Mining [8].
Troilus to Accompany Prime Minister of Canada and Minister of Energy and Natural Resources on Critical Minerals Mission to Germany; Also Participating in Japan and Korea Investment Forums
Globenewswire· 2025-08-25 12:52
Core Insights - Troilus Gold Corp. has been invited to participate in two significant Canadian government-led international missions, highlighting the strategic importance of its copper-gold project to Canada's critical minerals agenda [1][4] - The company will join a Canadian business delegation to Berlin, Germany, to showcase its role as a major future copper-gold producer and its partnerships with key players in the supply chain [2][4] - Troilus will also attend the Canadian Critical Minerals Investment Forum in Tokyo, Japan, and Seoul, Korea, to engage with global investors and industry leaders [3][4] Company Overview - Troilus Gold Corp. is a Canadian development-stage mining company focused on advancing the former Troilus Mine towards production, located in Quebec, Canada [5] - The company holds a significant land position of 435 km² in the Frôtet-Evans Greenstone Belt and has completed a Feasibility Study supporting a large-scale 22-year, 50ktpd open-pit mining operation [5]
U.S. Gold Corp. Selects Glencore Technology's Jameson Cell Flotation Equipment for Improved Gold and Copper Recovery at the CK Gold Project
Prnewswire· 2025-08-21 12:00
Core Viewpoint - U.S. Gold Corp. has adopted Glencore Technology's Jameson Cell Flotation Equipment to enhance gold and copper recovery at the CK Gold Project, following extensive engineering and optimization studies [1][2][4]. Group 1: Technology Adoption - The Jameson Cell flotation technology is expected to improve metal recovery, reduce power consumption, and require less space compared to conventional flotation cells [2][4]. - U.S. Gold conducted additional testing on CK Gold Project ore, confirming increased recovery rates for both gold and copper compared to the February 2025 Prefeasibility Study [3]. Group 2: Economic Impact - A trade-off study estimated that incorporating Jameson Cells could enhance the project's Net Present Value (NPV) by approximately $36 million over the mine's life compared to traditional tank flotation technology [4]. - The study also indicated potential reductions in operating costs and equipment needs, contributing to the project's overall economic robustness [4]. Group 3: Strategic Partnerships - Glencore Technology has provided a limited performance guarantee and continues to support the engineering and cost parameters for the proposed equipment [5]. - U.S. Gold has secured pricing for unused Jameson Cells through October 2025, originally intended for a canceled project, ensuring cost stability for the implementation [5]. Group 4: Company Overview - U.S. Gold Corp. is a publicly traded company focused on gold and copper exploration and development, with the CK Gold Project located in Southeast Wyoming [8]. - The company also has exploration properties in Nevada and Idaho, indicating a diversified portfolio in the mining sector [8].
Bold Ventures Announces Results of A and B Horizon Soil Sampling Program on Its Burchell Property
Newsfile· 2025-08-18 12:00
Core Viewpoint - Bold Ventures Inc. has announced the results of its A and B Horizon Soil Sampling Program on the Burchell Gold and Copper Property, revealing significant gold and base metal anomalies that warrant further exploration [1][2]. Summary by Sections Survey Details - A total of 474 soil samples were collected over an 800 m by 1 km grid centered on the 111 Zone, with sampling conducted in May [1][2]. - The sampling included A Horizon and B Horizon, with specific focus on areas over deeper cover [2]. B Horizon Soil Sampling Results - 212 B Horizon soil samples were analyzed, with highly anomalous gold values, including one sample returning 647 ppb Au [5][15]. - Notable base metal values were also found, with maximum values of 1590 ppm Zn and 442 ppm Pb, while Cu showed a maximum of 47 ppm [9]. - Three distinct clusters of gold and base metal anomalies were identified for follow-up prospecting, particularly near geological contact zones [11]. A Horizon Soil Sampling Results - 262 A Horizon soil samples were collected, with the highest gold result being 44 ppb Au near the 111 Zone [12][13]. - Base metal responses were strong, with maximum results of 4520 ppm Zn, 547 ppm Cu, and 350 ppm Pb [13]. - Anomalies in A Horizon samples clustered similarly to those in B Horizon, with additional interest in a swamp area [13]. Geological Context - The 111 Zone is located near contact zones between mafic metavolcanics and quartz sericite schist, which may indicate potential mineralization [8]. - Historical data indicates that significant base metal mineralization tends to occur along fractured or sheared contacts in the area [10]. Quality Assurance and Analysis - Soil samples were collected following strict QAQC protocols and analyzed by an accredited laboratory [16]. - Different analytical methods were employed for A and B Horizon samples to ensure accurate results [16]. Company Overview - Bold Ventures Inc. focuses on exploring for Precious, Battery, and Critical Metals in Canada, particularly in regions with active mining operations [20].
Eldorado Gold Announces Appointment of Christian Milau as President
Globenewswire· 2025-08-15 10:45
Core Viewpoint - Eldorado Gold Corporation has appointed Christian Milau as President, effective September 12, 2025, to drive the company's growth and strategic initiatives, particularly with the upcoming Skouries project [1][4][5]. Group 1: Leadership Transition - Christian Milau brings over 25 years of experience in finance, capital markets, and mining, with a focus on operational leadership and stakeholder relations [2]. - Milau has previously served as CEO of Equinox Gold, where he led the company from a single-asset developer to a multi-mine producer with eight operating mines [3]. - George Burns will transition from President to Chief Executive Officer, while Milau will oversee key areas including Operations, Finance, and Human Resources [4]. Group 2: Strategic Vision - The Board of Eldorado conducted a comprehensive search for a leader with the right blend of experience and vision, highlighting Milau's proven leadership in the mining sector [5]. - Milau expressed enthusiasm for joining Eldorado, emphasizing the company's strong values and commitment to growth, particularly with the Skouries project set to come online next year [5]. - The appointment reflects Eldorado's commitment to thoughtful leadership and long-term value creation as it prepares for its next phase of growth [5]. Group 3: Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Türkiye, Canada, and Greece, known for its skilled workforce and responsible operations [6].
South Pacific Metals Corp. Obtains Court Injunction to Protect Exclusive Exploration Rights on EL2558 Exploration Licence Bordering K92 to the Northeast
Newsfile· 2025-08-14 17:48
Core Viewpoint - South Pacific Metals Corp. has secured an interim injunction from the National Court of Justice of Papua New Guinea to protect its exclusive exploration rights on the EL 2558 exploration licence, which is being contested by K92 Mining [2][4]. Legal Proceedings - Kainantu Resources Limited, a wholly-owned subsidiary of South Pacific Metals Corp., has initiated legal action against K92 Mining and the Mineral Resources Authority to affirm its exclusive rights to Exploration Licence EL 2558 under the PNG Mining Act 1992 [3]. - The company is seeking declaratory relief to confirm its status as the sole registered holder of the exploration licence and to assert its rights over surface and subsurface mineral exploration within the licence boundaries [3]. Objectives and Implications - The company aims to protect its legal rights and maintain the integrity of its exploration program, ensuring that the licence area remains free from unauthorized activities [4]. - EL 2558 is a key focus for the company's exploration initiatives, and if these programs are deemed non-economic, the area could serve as a potential tailings facility [4]. Upcoming Legal Developments - The matter is scheduled for an inter partes hearing on August 22, 2025, to determine whether the injunctive relief will continue [4]. Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four significant projects adjacent to major producers [5]. - The company's projects, including Anga, Osena, Kili Teke, and May River, are strategically located within the Kainantu Gold District and have the potential for high-grade mineralization similar to that of K92 Mining [6][8].
Adyton Resources Closes Oversubscribed C$20 Million Financing Comprised of $14 Million Brokered Private Placement of Units and Concurrent $6 Million Non-brokered Private Placement of Units
Newsfile· 2025-08-13 16:23
Core Viewpoint - Adyton Resources Corporation has successfully completed an oversubscribed financing totaling C$20 million, which includes a brokered private placement of C$14 million and a concurrent non-brokered private placement of C$6 million [1][4]. Financing Details - The brokered private placement involved the sale of 35,000,000 units at a price of $0.40 per unit, generating gross proceeds of C$14 million [1]. - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one share at $0.60 for 24 months [1]. - The non-brokered private placement raised C$6 million through the sale of 15,000,000 units at the same offering price, aimed at allowing board members and local residents to participate [4]. Agent and Compensation - Clarus Securities Inc. and PowerOne Capital Markets Limited acted as lead agents for the brokered offering, receiving a cash commission of 6.5% of the gross proceeds and 2,275,000 non-transferable compensation options [2][3]. Insider Participation - Company insiders, including Chairman Sinton Spence and Independent Director Michael Gray, subscribed for a total of 1,225,775 units, qualifying as a related-party transaction under Multilateral Instrument 61-101 [5]. Regulatory Compliance - The units issued are subject to a statutory hold period of four months plus one day from the closing date, in accordance with applicable securities legislation [6]. - The securities are not registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without registration or an exemption [7]. Company Overview - Adyton Resources Corporation focuses on developing gold and copper resources in Papua New Guinea, with a portfolio of mineral exploration projects [9]. - The company has a total mineral resource estimate of 173,000 ounces of indicated gold and 2,000,000 ounces of inferred gold across its projects [10]. - The Feni Island Project has an inferred mineral resource of 60.4 million tonnes at an average grade of 0.75 g/t Au, equating to 1,460,000 ounces of contained gold [11].
Carolina Rush Announces Refiling of Maiden Mineral Resource Technical Report for Brewer Gold-Copper Project
Newsfile· 2025-08-09 00:00
Core Viewpoint - Carolina Rush Corporation has amended and refiled its Technical Report for the Brewer Gold-Copper Project following a review by the Ontario Securities Commission, addressing compliance with NI 43-101 standards [1][2]. Summary by Relevant Sections Technical Report Amendments - The amended Technical Report includes an updated in situ mineral resource statement with the following details: - Indicated resources: 6,167 thousand tonnes at an average grade of 0.97 g/t Au and 1,266 ppm Cu, totaling 192 thousand ounces of Au and 16,671 thousand pounds of Cu - Inferred resources: 8,828 thousand tonnes at an average grade of 0.74 g/t Au and 425 ppm Cu, totaling 210 thousand ounces of Au and 8,279 thousand pounds of Cu [2][5]. Compliance and Author Changes - The report now complies with the current CIM Estimation of Mineral Resource and Mineral Reserves Best Practice Guidelines (2019) and has removed Patrick Quigley as a co-author to ensure independence, with Patrick Hollenbeck assuming sole authorship [5][6]. Metallurgical and Resource Constraints - A responsible metallurgical recovery assumption based on historical test work was applied, and the mineral resource was constrained within a conceptual open-pit shell to demonstrate reasonable prospects for eventual economic extraction [5][6]. Backfill Mineral Resource Statement - The backfill mineral resource statement remains unchanged, with a total of 11,900 thousand tonnes at an average grade of 0.36 g/t Au and 345 ppm Cu, totaling 139 thousand ounces of Au and 9,050 thousand pounds of Cu [8][11]. Company Overview - Carolina Rush Corporation is focused on advancing the Brewer Gold-Copper Project in South Carolina, which is located near OceanaGold's Haile Gold Mine and has potential for both near-surface and deep mineralization [14].