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Omega Pacific Announces Private Placement
Newsfile· 2025-06-17 13:00
Core Viewpoint - Omega Pacific Resources Ltd. is initiating a non-brokered private placement financing of up to $1,975,000 to support its exploration initiatives at the Williams Property in British Columbia, Canada [1]. Offering Terms - The Offering will consist of flow-through units (FT Units) and non flow-through units (NFT Units) [2]. - Proceeds from FT Units will be used for eligible Canadian exploration expenses related to the Williams Property, with all qualifying expenditures renounced in favor of subscribers by December 31, 2025 [2]. - Net proceeds from NFT Units will be allocated for exploration and development of the Williams Property and general working capital [2]. Financial Details - The Offering includes 7,400,000 FT Units priced at $0.135 each, with each unit comprising one flow-through common share and one share purchase warrant [7]. - Additionally, 9,500,000 NFT Units will be offered at $0.10 each, with each unit consisting of one non flow-through common share and one share purchase warrant [7]. Exploration Strategy - The GIC Prospect at the Williams Property features a significant bulk tonnage epithermal gold system, with previous drill holes showing promising gold mineralization [5]. - The 2025 exploration program will focus on a 1,400 x 400 m zone to extend mineralization from 2024 drill locations [5]. Company Overview - Omega Pacific Resources Ltd. is a Canadian mineral exploration company dedicated to discovering and developing precious metal projects in British Columbia, while also evaluating prospective assets both domestically and internationally [8].
OROCO ANNOUNCES PRIVATE PLACEMENT
Globenewswire· 2025-06-17 11:00
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, Canada, June 17, 2025 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) of up to 5,000,000 units of the Company (each, a “Unit”) at a price of C$0.30 per Unit for gross proceeds of up to C$1,500,000. Each Unit will consist of one common share of the Company (each, a “Unit Share”) and one common ...
Material Update on Off-Market Takeover by Bastion Mining
Globenewswire· 2025-06-17 11:00
TORONTO, Canada, June 17, 2025 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (Xanadu or the Company) today provides an important update in relation to the off-market takeover offer by Bastion Mining Pte. Ltd. UEN 202512367N (Bastion) to acquire all the fully paid, ordinary shares in Xanadu (Offer)1,2,3. The Takeover Board Committee of Xanadu (Takeover Board Committee) notes that Zijin Mining Group (Zijin), the Company’s largest shareholder4 and joint venture partner has accepted the Bastion Offe ...
Aldebaran Reports Infill Drilling Results from Eleven Holes at the Altar Copper-Gold Project in San Juan Argentina
Globenewswire· 2025-06-17 11:00
VANCOUVER, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) is pleased to provide results of 11 holes from the in-fill drilling program currently being completed at the Altar project in San Juan, Argentina. The goal of these holes was to upgrade blocks of known resource classified as Inferred to Measured & Indicated. All holes reported today were focused either on the Altar Central or Altar United zones. Highlights ALDE-2 ...
Mustang Energy Corp. Advances Strategic Option Agreements with Thunderbird Resources Ltd.
Globenewswire· 2025-06-16 21:15
Core Viewpoint - Mustang Energy Corp. has completed initial payments and share issuances under two strategic option agreements with Thunderbird Resources Ltd, marking a significant step in advancing the Cluff Lake and Surprise Creek Projects [1][2]. Cluff Lake Project - The Company has entered into the Cluff Lake Agreement to acquire an 80% interest in mineral tenements around Cluff Lake [2]. - Initial consideration for the Cluff Lake Option included a cash payment of $20,000 and the issuance of 425,531 common shares [3]. - To earn a 60% interest in the Cluff Lake Project, the Company must make an additional cash payment of $50,000 and incur exploration expenditures of $1,000,000 by June 3, 2027 [4]. - For an additional 20% interest, the Company must pay another $50,000 and spend $2,000,000 on exploration by the second anniversary of earning the Stage 1 interest [4]. - Upon earning the Stage 2 interest, Thunderbird will retain a 2% Net Smelter Return royalty on the Cluff Lake Project [5]. Surprise Creek Project - The Company has also entered into the Surprise Creek Agreement to acquire an 80% interest in mineral tenements around Surprise Creek [2]. - Initial consideration for the Surprise Creek Option included a cash payment of $20,000 and the issuance of 425,531 common shares [6]. - To earn a 51% interest in the Surprise Creek Project, the Company must make a cash payment of $50,000 and incur exploration expenditures of $1,000,000 by June 3, 2027 [7]. - For an additional 29% interest, the Company must pay another $50,000 and spend $2,000,000 on exploration by the second anniversary of earning the Stage 1 interest [7]. - Upon earning the Stage 2 interest, Thunderbird will retain a 2% Net Smelter Return royalty on the Surprise Creek Project [8]. Share Issuance and Regulatory Compliance - All shares issued to Thunderbird are subject to a statutory hold period of four months and one day from the closing date [9]. - Share values for future issuances under the Stage 2 interests will be determined by market price at the time of issuance, in accordance with Canadian Securities Exchange policies [4][7]. Company Overview - Mustang Energy Corp. focuses on acquiring and developing high-potential uranium and critical mineral assets, actively exploring properties in Northern Saskatchewan, Canada [10]. - The Company holds 92,211 hectares in the Athabasca Basin, including several projects such as Ford Lake, Cigar Lake East, Roughrider South, Yellowstone, and Dutton [10].
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].