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Hercules Metals Closes C$17 Million Financing
Newsfile· 2025-08-14 12:59
Core Viewpoint - Hercules Metals Corp. has successfully closed a brokered private placement, raising C$17,251,150 through the sale of 24,644,500 common shares at C$0.70 per share, with the offering fully subscribed and the Agents' option exercised in full [1] Group 1: Offering Details - The private placement was conducted under the Listed Issuer Financing Exemption, allowing sales in Canada (excluding Quebec) and the U.S. without a statutory hold period [2] - The Agents received a cash commission of 6.0% on gross proceeds, with a reduced commission of 3.0% for certain purchasers on a "president's list" [3] Group 2: Related Party Transaction - A director of the Company participated in the Offering, purchasing 71,400 shares for C$49,980, which is classified as a related party transaction but is exempt from formal valuation and minority shareholder approval requirements [4] Group 3: Use of Proceeds - The net proceeds from the Offering will be utilized for exploration and development of the Hercules property in Idaho and for general working capital purposes [5] Group 4: Company Overview - Hercules Metals Corp. is focused on developing a new porphyry copper district in Idaho, with its 100% owned Hercules Property hosting the newly discovered Leviathan porphyry copper system [8][9] - The Company aims for growth through continued drilling and has received strategic investment support from Barrick Mining Corporation [9][10]
District Copper Provides Update on Copper Keg Porphyry Copper Project
Newsfile· 2025-07-24 12:00
Core Viewpoint - District Copper Corp. has provided an update on its Copper Keg porphyry copper project, highlighting significant advancements in understanding the project's geological potential and exploration strategy [1][2]. Project Overview - The Copper Keg project spans 6,628 hectares in the Kamloops mining Division, British Columbia, located approximately 20 kilometers north of Teck Resources Limited's mining operations [1]. - The project aims to characterize the porphyry copper potential and develop an updated exploration model based on new geological data [4]. Exploration Results - Phase 1 of the 2025 exploration program has improved the understanding of the porphyry copper potential, particularly in the gossan area, which shows encouraging geological features [2]. - The exploration identified a primary target area measuring approximately 1,000 meters long by 200 meters wide, characterized by variably altered Nicola volcanics [3]. Geological Findings - The Phase I program has revealed several previously unrecorded porphyry-related geological parameters, including the relocation of the Guichon Creek/Nicola contact and the presence of altered porphyritic dikes [6]. - High sensitivity airborne magnetic data suggests that the Guichon Creek/Nicola Volcanic contact may be intrusive rather than structural [7]. Mineralization Insights - The exploration has located areas of primary and secondary copper mineralization, with significant pyrite mineralization observed in the Nicola Volcanics [10]. - Various styles of mineralized and non-mineralized vein sets have been identified, indicating the presence of a porphyry copper system [9].
Hercules Metals Provides Further Positive Update on Its 2025 Drilling Campaign
Newsfile· 2025-07-16 11:15
Core Viewpoint - Hercules Metals Corp. is making significant progress in its 2025 drilling campaign at the Hercules Property in Idaho, particularly at the Leviathan porphyry copper discovery, with ongoing validation of a new geological model and potential for substantial system expansion [2][5]. Group 1: Drilling Campaign Progress - The company has completed seven drill holes and has five more in progress, totaling over 5,500 meters drilled this season [2]. - The drilling campaign aims to validate a new 3D geological model, which has led to an increase in drilling rigs from three to five [2][5]. - The first completed drill hole of the season, HER-25-02, has shown potential for both main stage porphyry mineralization and hypogene enrichment extending northeast into the Grade Creek Zone [4][8]. Group 2: Geological Insights - The campaign is focused on defining grade and width along an initial 1.3-kilometer strike length, with systematic drill fences testing both main stage mineralization and higher-grade enrichment zones [4]. - Surface mapping and preliminary geophysics suggest that the Leviathan's potential strike length could extend upwards of 3.5 kilometers [4]. - Soil and rock chip sampling above the northeastern extension of the chargeability anomaly indicates elevated copper and molybdenum values, supporting the potential for a large northeast extension [4]. Group 3: Future Expectations - Core samples from several completed holes have been sent for assaying, with results expected in the next 6-8 weeks [5]. - The company is optimistic about the potential for significant expansion of the mineralization system in both directions while better defining the known strike [5]. - The new MT conductivity anomaly indicates potential for a major southern extension of the Leviathan Porphyry system, with drill hole HER-25-06 targeting the center of this anomaly [8][20].
Hercules Metals Announces Voting Results From Annual General Meeting
Newsfile· 2025-06-17 21:00
Core Points - Hercules Metals Corp. held its Annual General Meeting of Shareholders, where all resolutions were approved with 34.59% of total shares outstanding voting [1] Election of Directors - The number of directors was fixed at four, and all nominees were re-elected to the Board of Directors [2] - Voting results for directors were as follows: - Chris Paul: 66,482,938 votes (99.726% for) - Peter Simeon: 66,436,938 votes (99.657% for) - Nick Tintor: 66,471,938 votes (99.709% for) - Kelly Malcolm: 64,738,900 votes (97.110% for) [3] Appointment of Auditors - MNP LLP was re-appointed as the auditor, with the authority to fix the auditor's remuneration [4] - Voting results for the appointment of auditors: - Votes cast for: 90,504,458 (99.971% for) [5] Company Overview - Hercules Metals Corp. is focused on developing a new porphyry copper district in Idaho [6] - The 100% owned Hercules Project hosts the newly discovered Leviathan porphyry copper system, a significant discovery in recent times [7] - The company aims for growth through continued drilling, supported by a strategic investment from Barrick Mining Corporation [7] - Management and the board aim to build on a proven track record in discovering and developing base and precious metals projects globally [8]
Copper Fox Provides Update on Mineral Mountain Drill Permit
Newsfile· 2025-05-26 10:00
Core Viewpoint - Copper Fox Metals Inc. is progressing with the permitting process for its maiden drilling program at the Mineral Mountain porphyry copper property in Arizona, with a positive environmental review indicating no significant impact on the local environment [1][3][6]. Project Details - The Mineral Mountain project spans 2,692.4 hectares and features a 3.0 km by 1.0 km zone of gold-enriched porphyry copper mineralization, associated with a 3.2 km by 1.2 km buried chargeability anomaly [1][4]. - The geological setting includes porphyritic granodiorite and quartz monzonite, with a central core of potassic alteration surrounded by sericitic-chlorite alteration [4]. Permitting Process - The BLM Field Manager approved the Plan of Operation on May 15, 2025, following a 30-day public review period that concluded with no substantive comments [3][6]. - The company is currently working with bonding agencies to establish the required reclamation bond as mandated by the BLM [3][6]. Company Overview - Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development, with projects in both Canada and the United States [5]. - The company holds 100% ownership of several projects, including the Van Dyke ISCR project and the Mineral Mountain project, and has a 25% interest in the Schaft Creek Joint Venture with Teck Resources [5].