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Maxus Mining Investors Exercise $354,300 CDN in Warrants
Globenewswire· 2025-06-16 21:00
Group 1: Company Financials - Maxus Mining Inc. announced that investors exercised 1,771,500 common share purchase warrants, generating gross proceeds of $354,300 from May 16, 2025, to June 13, 2025 [1] - The capital raised will strengthen the Company's balance sheet and will be allocated for future exploration, new projects or acquisitions, corporate development, marketing, and working capital [2] Group 2: Marketing Agreement - The Company entered into a marketing agreement with RMK Marketing Inc. for a term of 6 months starting June 18, 2025 [3] - RMK will provide various marketing services, including coordinating marketing actions, optimizing AdWords campaigns, and managing online marketing projects [4] - The Company will compensate RMK $250,000, with an option to increase the advertising budget up to $350,000 during the term [5] Group 3: Company Overview - Maxus Mining Inc. is focused on mineral exploration, aiming to locate, acquire, and develop economic mineral properties in premier jurisdictions [6] - The Company has a diverse portfolio of exploration properties, including approximately 7,244 hectares across multiple projects, such as four antimony projects and the Penny Copper Project [6] - The Penny Copper Project has a history of exploration activity and recent sampling returned copper values up to 2,388 ppm Cu [7] Group 4: Project Highlights - Historical samples from the Quarry Antimony Project showed significant mineralization, including 0.89% Au and 20% Sb [8] - The Lotto Tungsten Project has reported high tungsten grades, with a selected grab sample assaying 10.97% Wo3 [8] - The Altura and Hurley Antimony projects are strategically located near recent high-grade discoveries, with assays up to 69.98% Sb and 19.2% Sb reported [8]
Decade Resources Closes Oversubscribed Flow Through Private Placement for Total Gross Proceeds of $308,500
Newsfile· 2025-06-16 20:45
Core Points - Decade Resources Ltd. has successfully closed an oversubscribed flow-through private placement, raising total gross proceeds of $308,500 [1][2]. Group 1: Financial Details - A total of 8,814,286 flow-through units were issued at a price of 3.5 cents per unit, which includes one flow-through common share and one transferable non-flow-through common share purchase warrant [2]. - Each warrant is exercisable for the purchase of one additional common share at a price of $0.05 per share for a period of 24 months [2]. Group 2: Use of Proceeds - Proceeds from the sale will be used for incurring flow-through expenses that qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures as defined in the Income Tax Act (Canada) [3]. - The funds will specifically be allocated to the Company's properties in British Columbia [3]. Group 3: Additional Information - The company paid cash finder's fees totaling $16,200 and issued 462,857 warrants at $0.05 to the finders, with the warrants also being exercisable for a 24-month period [4]. - All issued securities are subject to a statutory hold period of four months, expiring on October 14, 2025 [3].
Plato Gold Announces Closing of Loan Financing for First Ever Drill Program at Lolita Project, Santa Cruz, Argentina
Globenewswire· 2025-06-16 11:30
Core Viewpoint - Plato Gold Corp. has successfully closed a loan financing agreement to support its drilling program and general corporate purposes, with a total loan amount of up to US$1,050,000 [2][3]. Group 1: Loan Financing Details - The loan consists of two parts: US$50,000 from one lender and US$1,000,000 from 1338823 Alberta Inc., which is controlled by Anthony Cohen, a director of Plato [2][3]. - The loan proceeds will be allocated to finance the drill program at the Lolita Project in Santa Cruz, Argentina, as well as for working capital and general corporate purposes [2]. - The loans are unsecured, carry an interest rate of 7% per annum, and are due on June 10, 2026, unless repaid earlier [2]. Group 2: Related Party Transaction - The loan from 1338823 Alberta Inc. is classified as a "related party transaction" under Multilateral Instrument 61-101, and the company is relying on exemptions from formal valuation and minority shareholder approval requirements [3]. - The fair market value of the loan is stated to be not more than US$2.5 million, which allows the company to bypass certain regulatory requirements [3]. Group 3: Company Overview - Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange, with projects located in Timmins, Ontario, and Santa Cruz, Argentina [5]. - The company holds a 95% interest in Winnipeg Minerals S.A., which has mineral rights totaling 9,672 hectares in Argentina, with potential for gold and silver [6]. - The company also has projects focused on niobium and platinum group metals in Ontario [6][7].
Second Drill Hole at Potro SE Extends Polymetallic Mineralization at Mirasol’s Flagship Sobek Gold-Silver-Copper Project in the Vicuña District, Chile
Globenewswire· 2025-06-16 10:30
Core Viewpoint - Mirasol Resources Ltd. has announced positive results from the second drill hole at the Potro SE target, indicating the extension of a mineralized hydrothermal breccia system containing gold, silver, zinc, lead, and indications of copper at the Sobek Copper-Gold Project in Chile [1][2]. Group 1: Drill Results - The second drill hole (PSE-DDH-002) confirmed the continuity of mineralization, showing a well-mineralized intermediate sulfidation system potentially linked to a deeper porphyry center [2][6]. - The second drill hole reached a depth of 918 meters, approximately 80 meters deeper than the first hole, and exhibited slightly higher grades over narrower widths [4][6]. - Significant intercepts included 0.90 meters at 15.02 g/t gold equivalent and 17.65 meters at 0.22 g/t gold equivalent, with high values of silver, lead, and zinc [5][7][10]. Group 2: Geological Context - The mineralized breccias are interpreted to be controlled by the Ventana Fault System, which is associated with high-grade discoveries at nearby Lunahuasi [2][6]. - The hydrothermal breccia system is hosted along the Ventana Fault, indicating a potentially larger mineralized system [10][12]. - Future drilling will focus on the southern extension of the Potro SE mineralization along the Ventana Fault, targeting areas with stronger mineralization signals [11][12]. Group 3: Project Background - The Sobek Project is strategically located within a mineral-rich geological environment, approximately 3 kilometers from significant discoveries such as the Filo del Sol deposit and NGEx's Lunahuasi [13][14]. - Mirasol has been actively exploring the Sobek Project since 2016, capitalizing on the favorable structural architecture of the region [13][22]. Group 4: Financial and Corporate Updates - Mirasol has terminated its option agreement on the Inca Copper-Gold Project, having fulfilled all exploration obligations [16]. - The company announced an increase in a shareholder loan to $3 million, which will be used for general working capital and to pay creditors [17][18].
Inflection Resources to Acquire Portfolio of Australian Copper-Gold Projects from Newmont Corporation
GlobeNewswire News Room· 2025-06-16 10:30
Core Viewpoint - Inflection Resources Ltd. has entered into a definitive agreement to acquire a 100% interest in a portfolio of Australian copper-gold exploration projects from Newmont Corporation, which includes the Tennant East and Bell River projects, indicating a strategic expansion in high-potential mineral exploration [1][3][8]. Group 1: Project Details - The Bell River project spans approximately 115 km² and is located in the Macquarie Arc, known for its rich porphyry copper-gold deposits, situated 65 km north of Newmont's Cadia mine [5][8]. - Significant geological features at Bell River include advanced argillic alteration zones and high gold values of up to 40.8 g/t, with copper content reaching 1% in surface rock samples [6][7]. - The Tennant East project covers around 4,200 km² and consists of twelve exploration licenses, targeting Iron Oxide Copper Gold (IOCG) mineralization with minimal prior exploration [13][15]. Group 2: Acquisition Terms - For the Bell River project, Inflection will issue 1,000,000 common shares to Newmont and make a one-time payment of AUD$2.5 million upon completion of a JORC or NI43-101 compliant Pre-Feasibility Study, plus AUD$5.0 million upon the start of commercial production [21]. - The Tennant East project acquisition involves issuing 250,000 common shares and reimbursing Newmont for tenement renewal fees, with Newmont retaining a 1.5% net smelter return (NSR) royalty [22]. Group 3: Exploration Strategy - Inflection's exploration strategy will focus on systematic reviews of previous exploration data, geological interpretation, and the integration of geological, geochemical, and geophysical data to identify potential mineralization [20]. - The company aims to explore the newly acquired projects in parallel with its existing exploration programs funded by AngloGold Ashanti, leveraging its systematic exploration approach [3][8].
Search Minerals Clarifies Timing for TSX Venture Exchange Reinstatement to Trading and Share Consolidation
Newsfile· 2025-06-13 21:38
Group 1 - Search Minerals Inc. will reinstate its common shares for trading on the TSX Venture Exchange at market open on June 16, 2025 [1] - The consolidation of shares will occur on a basis of one post-consolidation share for every ten pre-consolidation shares, effective at market open on June 17, 2025 [1] Group 2 - Search Minerals is focused on exploring and developing Critical Rare Earth Elements (CREE) and transition metals such as Zirconium (Zr) and Hafnium (Hf) in the Port Hope Simpson - St. Lewis CREE District of South-East Labrador [2] - The company controls two deposits (Foxtrot and Deep Fox) and two drill-ready prospects (Fox Meadow and Silver Fox), along with several other CREE prospects in a 64-kilometer long belt [2] - Additional CREE assets are located in the Red Wine CREE District of central Labrador, including the drill-ready Two Tom Lake CREE-Be-Nb deposit and other prospects [3]
All You Need to Know About Compass (CMP) Rating Upgrade to Buy
ZACKS· 2025-06-13 17:01
Investors might want to bet on Compass Minerals (CMP) , as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Individu ...
Search Minerals Announces Corporate Update Including TSX Venture Exchange Reinstatement to Trading, Financing, Share Consolidation and AGM
Newsfile· 2025-06-12 18:29
Search Minerals Announces Corporate Update Including TSX Venture Exchange Reinstatement to Trading, Financing, Share Consolidation and AGMJune 12, 2025 2:29 PM EDT | Source: Search Minerals Inc.St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - June 12, 2025) - Search Minerals Inc. (TSXV: SMY) ("Search Minerals" or the "Company") is pleased to announce a corporate update.As previously disclosed by the Company, on April 8, 2024, a cease trade order (the "CTO") was issued by the British Col ...
Nine Mile Metals Receives NBJMAP Exploration Grant for California Lake East VMS Project
Newsfile· 2025-06-12 13:25
Core Viewpoint - Nine Mile Metals Ltd. has received a $40,000 grant from the New Brunswick Department of Natural Resources and Energy Development to support exploration on the California Lake East VMS Project [1][4]. Exploration Plans - The company submitted a proposal in April 2025 for specific exploration on the California Lake East VMS Project, where previous drilling in 2022 confirmed the presence of a VMS system [2]. - Planned exploration will focus on the stratigraphic horizon and EM strong late-time conductors, with ground-based geophysics to define prioritized drill targets [2][6]. - Target 6 has been identified as a high-priority new target, potentially the source of the previously successful VMS drill program at Target 8 [2][8]. Support and Community Engagement - The New Brunswick government continues to support the mining community in the Bathurst Mining Camp through the Junior Mining Assistance Program, which funds projects of high interest [4]. - The company expresses gratitude for the ongoing support from the New Brunswick Department of Natural Resources and the local mining community [8]. Company Overview - Nine Mile Metals Ltd. is focused on Critical Minerals VMS exploration in the Bathurst Mining Camp, with projects including Nine Mile Brook, California Lake, Canoe Landing Lake, and Wedge VMS Projects [9]. - The company aims to position itself for the demand in EV and green technologies, which require critical minerals such as Copper, Silver, Lead, and Zinc, while also having a hedge on Gold [9].
Callinex Received 2-Year Exploration Permit for Pt. Leamington Project, Newfoundland
Globenewswire· 2025-06-12 12:30
Core Viewpoint - Callinex Mines Inc. has received a two-year exploration permit for its Pt. Leamington Project, allowing for immediate exploration activities aimed at expanding the existing mineral resource and testing new targets [2][3][8]. Company Overview - Callinex Mines Inc. is focused on advancing its portfolio of base and precious metals deposits in established Canadian mining jurisdictions, with a significant emphasis on the Pt. Leamington Deposit in Newfoundland [9]. Exploration Permit Details - The exploration permit is valid until June 2027 and enables ground geophysics and diamond drilling at the Pt. Leamington VMS Deposit [3][8]. - Additional exploration permits have been submitted for a planned 2025 surface field exploration campaign, which includes prospecting, geological mapping, and geochemical rock sampling [3][8]. Project Specifications - The Pt. Leamington Project is located approximately 37 km from Grand Falls-Windsor and 20 km from the provincial power grid, featuring a large VMS deposit with a strike length of 500 m and a maximum thickness of 85 m [5]. - The project has an Indicated Mineral Resource of 5.0 million tonnes grading 2.5 g/t AuEq, equating to 402,000 ounces of AuEq, and an Inferred Mineral Resource of 13.7 million tonnes grading 2.24 g/t AuEq, equating to 986,500 ounces of AuEq [5][9]. Exploration Plans - An exploration campaign is anticipated to begin in Q3 2025, focusing on expanding the current resource base and refining targets generated from airborne electromagnetic anomalies [4][6][8]. - The company has identified several untested geophysical anomalies within favorable geological units for further exploration [6]. Government Support - The streamlined permitting process reflects strong government and local support for mining activities in Newfoundland, enhancing the region's reputation as a tier one mining jurisdiction [4][8].