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Nova Powers Forward at Estelle with Strong Backing
Globenewswire· 2025-07-24 10:30
Core Insights - Nova Minerals Limited is advancing its Estelle Gold and Critical Minerals Project in Alaska, which is recognized as one of North America's largest sources of gold and critical minerals, including antimony [1][4] - The company is gaining momentum in alignment with Executive Order 14153, which aims to enhance American mineral production, and is engaging with the Department of Defense for potential support [3][4] - The Estelle Project has defined nearly 10 million ounces of gold and has identified significant concentrations of critical minerals, positioning it as a key contributor to U.S. economic security and military readiness [5][7] Project Development - The Estelle Project is progressing towards becoming a near-term producer of gold and antimony, with strong federal, state, and local support [4][5] - Nova's recent site assessment by the Department of Defense has been positive, indicating potential for federal support similar to that received by other companies in the sector [3][5] - The project is located in the Tintina Gold Belt, which has a documented gold endowment of over 220 million ounces, and includes multiple advanced gold and antimony prospects [15] Community and Government Engagement - The Nova Minerals Board of Directors received a warm welcome from over 25 Alaskan leaders during their visit, highlighting strong local support for the project [5][7] - Meetings with Alaska's Congressional Delegation have resulted in pledges of continued support for the Estelle Project, emphasizing the importance of responsible resource development [6][7] - Local officials, including the Matanuska-Susitna Borough Mayor, expressed optimism about the economic benefits the project will bring to the region [8][9] Future Outlook - The Estelle Project is positioned to become a cornerstone of domestic mineral security, with an integrated development strategy that includes community relationships and permitting momentum [13] - Nova Minerals is actively pursuing stakeholder engagement and strategic partnerships to enhance project development and shareholder value [14][19] - The company anticipates further updates regarding potential Department of Defense grants, which could significantly accelerate project development [18][19]
Cornish Metals Provides an Activities Update for the South Crofty Tin Project
GlobeNewswire News Room· 2025-07-24 06:00
Core Viewpoint - Cornish Metals Inc. is advancing its South Crofty tin project in Cornwall, UK, with significant progress following recent financing, aiming to restart tin production by the first half of 2028 [3][4]. Group 1: Project Development Updates - Activities at South Crofty have increased significantly post-financing in Q1 2025, with both surface and underground works in progress [3]. - The refurbishment of the Mine Dry building and demolition of old structures began in early July 2025, supported by the UK Shared Prosperity Fund [4]. - Orders have been placed with Qualter Hall for critical winders at the New Cook's Kitchen shaft, marking a key milestone in project development [4]. - Excavation for the processing plant is set to start in August 2025, with detailed engineering activities already underway [4]. - The addition of two Epiroc Boomer T1D drill rigs will facilitate underground development [4]. Group 2: Operational Challenges and Adjustments - Mine dewatering has faced delays due to reduced pump availability, but has resumed near full capacity of 25,000m³ per day as of mid-July [4]. - The refurbishment of the NCK shaft is progressing, with current depth at approximately 330 meters below the surface, and expected to reach the mid-shaft pump station by August 2025 [4]. - The timeline for mine dewatering and shaft refurbishment has been adjusted, with completion now expected in mid-2026, and first tin production anticipated in the first half of 2028 [4]. Group 3: Strategic Partnerships and Community Support - The company has partnered with Tomahee Consulting Services to enhance its mining technology platform, focusing on health and safety, operational excellence, and financial management [4]. - South Crofty is positioned to be the only primary tin producer in Europe or North America, benefiting from strong local and governmental support, and is expected to create over 300 direct jobs [8].
Quebec Innovative Materials Corp. (QIMC) Announces Major Permitting Milestone and Strategic Expansion in Quebec
Newsfile· 2025-07-23 12:00
"We are tremendously grateful to the Government of Quebec, the Ministry of Natural Resources and Forests (MNRF), and the Ministry of Economy, Innovation and Energy (MEIE) for their thorough due diligence, continuous communication, and steadfast support," stated John Karagiannidis, President of QIMC. "The issuance of the 5,000-meter drilling permit is a major validation of our strategic direction and enables us to significantly advance our development objectives." Strategic Quebec Expansion Over the past two ...
Osisko Metals Gaspé Copper Project Intersects 645 Metres Averaging 0.28% Cu
GlobeNewswire News Room· 2025-07-22 10:00
Core Insights - Osisko Metals Incorporated announced new drill results from the Gaspé Copper Project, highlighting the large-scale potential of mineralization at the site [1][2] - Significant new analytical results include 35 mineralized intercepts from ten drill holes, with infill intercepts aimed at upgrading inferred mineral resources and expansion intercepts potentially leading to additional resources [2][3] Drill Results Summary - Drill hole 30-1082 intersected 853.5 metres of continuous mineralization averaging 0.20% Cu, with a significant lower intercept of 424.0 metres averaging 0.21% Cu, extending mineralization to a depth of 1140 metres [6][10] - Drill hole 30-1089 reported 645.0 metres averaging 0.28% Cu, including an expansion lower intercept of 396.7 metres averaging 0.30% Cu, extending mineralization to a depth of 965 metres [14][15] - Drill hole 30-1083 showed 427.5 metres averaging 0.26% Cu, with a deeper intercept of 328.0 metres averaging 0.24% Cu, extending mineralization to a depth of 900 metres [11][12] - Drill hole 30-1087 reported 334.5 metres averaging 0.23% Cu and a deeper intercept of 74.5 metres averaging 0.62% Cu, extending mineralization to a depth of 598 metres [12] - Drill hole 30-1088, located outside the 2024 MRE model, intersected 122.7 metres averaging 0.24% Cu, indicating previously undocumented mineralization [13] Mineral Resource Context - The Gaspé Copper Project hosts the largest undeveloped copper resource in eastern North America, with current Indicated Mineral Resources of 824 million tonnes averaging 0.34% CuEq and Inferred Mineral Resources of 670 million tonnes averaging 0.38% CuEq [28] - The current drill program aims to convert the November 2024 Mineral Resource Estimate to Measured and Indicated categories and test for expansion deeper into the stratigraphy [21][28]
Avalon Announces Second Draw from Convertible Securities Agreement with The Lind Partners
Newsfile· 2025-07-21 11:00
Core Viewpoint - Avalon Advanced Materials Inc. has entered into a supplemental funding agreement to draw down an additional $1,300,000 from a $15,000,000 convertible security funding agreement with Lind Global Fund II, LP, aimed at supporting ongoing projects and general corporate purposes [1][2]. Funding Agreement Details - The second drawdown of $1,300,000 is expected to close within two weeks [2]. - The convertible security will have a two-year term with a simple interest rate of 10% per annum, resulting in a face value of $1,560,000 [3]. - Lind can convert the face value over a 24-month period at a conversion price equal to 85% of the five-day trailing volume weighted average price of Avalon's common shares prior to conversion [3]. Additional Financial Terms - Lind will receive a closing fee of $45,500 and 10,600,000 common share purchase warrants, allowing the purchase of common shares at $0.09 each for 60 months post-closing [4]. - The securities from the second drawdown will be subject to a hold period of four months and one day after closing, with conditional approval from the TSX [5]. Company Overview - Avalon Advanced Materials Inc. is focused on developing critical minerals essential for Canada's future, particularly in the lithium supply chain [8]. - The company is advancing the Lake Superior Lithium Inc. project, which is Ontario's first midstream lithium hydroxide processing facility, and is involved in other lithium and rare earth projects [8].
Search Minerals Inc. Announces Settlement with Certain Creditors
Newsfile· 2025-07-16 01:27
Group 1 - Search Minerals Inc. has agreed to settle $100,000 of remaining debt through a combination of share issuance and cash payment [1] - The company will issue 203,688 common shares to Todd Burlingame and make a cash payment of $26,600 to Kee Scarp Ltd. [1] - The completion of the share issuance is subject to approval from the TSX Venture Exchange and will have a hold period of four months and one day [2] Group 2 - The share issuance and cash payment are part of a settlement agreement with creditors [1] - The company is required to comply with applicable securities legislation regarding the issuance of shares [2]
VIZSLA SILVER ANNOUNCES CLOSING OF OVER-ALLOTMENT OPTION IN FULL
Prnewswire· 2025-07-14 13:26
Core Viewpoint - Vizsla Silver Corp. successfully completed a bought deal public offering, raising a total of US$15,000,300 through the sale of 38,334,100 common shares at a price of US$3.00 per share, including an over-allotment option exercised by underwriters [1][2]. Group 1: Offering Details - The offering consisted of 33,334,000 initial shares and an additional 5,000,100 shares sold under the over-allotment option [1]. - The offering was led by Canaccord Genuity Corp. as the sole bookrunner, with participation from a syndicate of underwriters including CIBC Capital Markets and others [2]. - The offering was conducted under a final prospectus supplement dated June 23, 2025, and is subject to final approval from the Toronto Stock Exchange [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to advance the exploration and development of the Panuco Project, exploration of the Santa Fe Project, potential future acquisitions, and general corporate purposes [4]. Group 3: Company Overview - Vizsla Silver is a Canadian mineral exploration and development company focused on the Panuco silver-gold project in Sinaloa, Mexico, which has a projected annual production of 15.2 million ounces of silver equivalent over a mine life of 10.6 years [7]. - The project has an after-tax NPV5% of US$1.1 billion, an internal rate of return (IRR) of 86%, and a payback period of 9 months at silver and gold prices of US$26/oz and US$1,975/oz, respectively [7].
Cygnus Metals Limited: Issue of Performance Rights
Globenewswire· 2025-07-11 07:24
Core Points - Cygnus Metals Limited has issued a total of 67,050,000 performance rights to directors, key employees, and consultants under its Omnibus Equity Incentive Plan [1][2] - The performance rights were approved by shareholders during the annual general meeting on May 14, 2025, and are issued under the same terms for key personnel as for directors [2] - The performance rights will vest one year after issuance or upon the successful completion of specific key performance objectives within three years [3] - Each vested performance right can be converted into one fully paid ordinary share and will expire on May 31, 2030, unless exercised before this date [3] - The objective of the Plan is to promote long-term success and shareholder value by aligning the interests of eligible participants with those of the Company [4] Company Overview - Cygnus Metals Limited (ASX: CY5, TSXV: CYG) is a diversified critical minerals exploration and development company with projects in Quebec, Canada, and Western Australia [6] - The Company is focused on advancing its Chibougamau Copper-Gold Project in Quebec through an aggressive exploration program aimed at resource growth [6] - Cygnus also holds quality lithium assets in the James Bay district of Quebec and has rare earth element (REE) and base metal projects in Western Australia [6] - The management team has a proven track record of transforming exploration success into production enterprises and enhancing shareholder value [6]
Copper Road announces the appointment of a new CEO
Globenewswire· 2025-07-07 11:30
Company Overview - Copper Road Resources Inc. has appointed Mr. Brian Howlett as President and CEO, effective immediately, bringing extensive experience in the junior exploration business [1] - The company aims to generate renewed interest through the acquisition of a new project or business and plans to relaunch its website soon [2] Shareholder Engagement - Mr. Howlett expressed the company's commitment to updating shareholders as warranted regarding future developments [2] - Copper Road remains a significant shareholder of Sterling Metals Corp., holding approximately 7% of the shares outstanding [2]
Nevada Lithium Announces Proposed Warrant Extension
Globenewswire· 2025-06-27 11:00
Core Points - Nevada Lithium Resources Inc. has announced the extension of the expiry date for 19,488,992 outstanding common share purchase warrants to July 7, 2027, from the previous expiry date of July 7, 2025, pending approval from the TSX Venture Exchange [1][2] - The warrants were issued in connection with a private placement completed on February 24, 2023, which raised gross proceeds of $4,585,000, and also through the conversion of $535,998 in promissory notes [1][2] - A total of 995,000 warrants have been exercised to date, with the remaining warrants allowing holders to acquire additional common shares at an exercise price of $0.20 until the new expiry date [2] Company Overview - Nevada Lithium Resources Inc. is focused on mineral exploration and development, primarily through its core asset, the Bonnie Claire Project, located in Nye County, Nevada, where it holds a 100% interest [3] - The Bonnie Claire deposit is divided into two zones: the Lower Zone and the Upper Zone, with significant lithium and boron mineralization identified [4][5] - The Lower Zone has an indicated resource of 275.85 million tonnes at 3,519 ppm lithium and 8,404 ppm boron, while the Upper Zone has an indicated resource of 188.08 million tonnes at 1,074 ppm lithium and 1,519 ppm boron [5]