Connect with us

Companies

Ecuador Expects 4 Major Mining Projects To Launch By End of President’s First Term in 2025

Ecuador expects to start production of four major mining projects by the end of President Guillermo Lasso’s first term in office in 2025, as he seeks…

Share this article:

Published

on

This article was originally published by Mining Feed
Aloag, Ecuador.

Ecuador expects to start production of four major mining projects by the end of President Guillermo Lasso’s first term in office in 2025, as he seeks to diversify the economy beyond oil exports, the Ministry of Natural Resources said on Friday. Lasso has been trying to attract private investment to boost the economy, which was in a deep recession last year, exacerbating Ecuador’s cash-strapped economy.

To do so, the President has issued a new decree, paving the way for investment in the nation and mining projects. This has the potential to open the floodgates for miners looking to expand or begin mining in the mineral-rich country.

Ecuador has rich mineral resources but lags behind its Andean neighbors Peru and Chile in the development of large mines. Many large mining projects in Ecuador face resistance from local communities and are struggling to fill informal miners who have slowed their development. However, the right approach with consultation with local communities has proven to be extremely effective. Successful projects like Solaris Resources’ (TSX:SLS) Warintza Project have been proven to be some of the most promising copper projects in the entire Andean region, and have been models of how mining companies can work hand in hand with local communities to uphold critical ESG principles.

Three gold concessions of Canadian companies Dundee Precious Metals (TSX:DPM) in Loma Largo, Atico Mining Corp (TSXV:ATY)  in Plata, and Adventus Mining Corp (TSXV:ADZN) in Curipamba are in advanced exploration phase and could begin production by 2023, the Department of Energy, Non-Renewable Energy and Natural Resources said in its statement. The Cascabel concession, operated by Australia’s SolGold Plc, is expected to start copper production by 2025, the ministry added.

The largest copper mine in South America, the Mirador Project, operated by a subsidiary of the Chinese consortium CRCC Tongguan, commenced production in mid-2019. Its first major gold mine, the Canadian Lundin Gold Inc.’s (TSX:LUN) Fruta del Norte mine project, started in November this year. Its authorities expect exports of mineral resources to reach $1.6 billion a year, an increase of 7.4% from 2020.

With Ecuador positioning itself as a nation of open arms for the mining industry, it is set to catch up to, and surpass its neighbours in the coming years and decades.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

The post Ecuador Expects 4 Major Mining Projects To Launch By End of President’s First Term in 2025 appeared first on MiningFeeds.









solgold plc



Author: Matthew Evanoff

Share this article:

Today’s News

Libero Copper Identifies Second Porphyry Target at Big Red

Libero Copper Identifies Second Porphyry Target at Big Red
Canada NewsWire
VANCOUVER, BC, Oct. 25, 2021

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to provide an update o…

Share this article:

Libero Copper Identifies Second Porphyry Target at Big Red

Canada NewsWire

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to provide an update on the recent advancements of its 100% owned Big Red project, located near Telegraph Creek, in BC’s Golden Triangle. Following up on the discovery of multiple new showings with copper mineralization two kilometres southeast of the 2020 Terry discovery drill holes, Libero Copper completed a 46 km2 detailed airborne magnetic survey and a soil sample grid to advance the target.

Highlights

  • Precision GeoSurveys completed a high-resolution airborne magnetic survey over the Terry target and the surrounding area.
  • Collected an additional 156 samples in a soil grid targeting the four new showings discovered earlier this season.
  • 10 diamond drill holes have been completed – initial results pending.
  • The new Scorcher discovery, a second porphyry target, identified through rock sampling during 2021 and supported by a subsequent soil sampling grid, was drill tested at the end of the season.

Click here to watch a video of Libero’s streamlined soil sampling process that helped take the Scorcher discovery from newly generated target to drilling in a single season.

“We are very excited with not only the four new targets identified this year, located kilometres to the east of the 2020 Terry discovery drill holes that have the potential to add significant scale to the project, but also with the speed the team has been capable of advancing them, while still achieving the ambitious work plan set for the 2021 drill season,” comments Ian Harris, President & CEO. “A soil sampling grid was designed and carried out over the area in time to add an additional drill hole at the end of the season to test the Scorcher target. The preliminary portable XRF results from the soil grid are encouraging and consistent with the highly anomalous samples associated with the Terry discovery zone to the northwest. In addition, a detailed airborne survey was contracted and completed over the area. The new detailed magnetic survey will provide greatly improved resolution relative to our current data set and extend coverage over the new areas of mineralization east of Terry. We expect the results from the survey in early winter.”

Airborne Magnetic Survey

Precision GeoSurveys Inc. (“Precision”) completed a helicopter borne high-resolution magnetic survey over an area of 46 km2 surrounding the Terry target and proximal mineralization. The survey was performed with 100 metre line spacing and 1 kilometre spaced tie lines. Libero Copper’s existing magnetic datasets (collected in 2017/2019) cover a larger area of the Big Red property and utilized wider line spacing (~ 500 metres). Inversions from this dataset were used in the design of the 2021 drill program advancing the Terry target. Preliminary logging of 2021 drill core suggests that the magnetic signatures could be a key vector for targeting mineralization in the system. With significantly tighter line spacing, the new magnetic survey will yield higher resolution data, and the area flown will extend coverage > 3 kilometres further east of the existing data. Once received, these data will be interpreted and used to generate and refine drill targets for the upcoming 2022 drill program.

Soil Sampling

Samples from the new soil sampling grid were analyzed onsite with a portable X-ray fluorescence (pXRF) device for multiple elements (Figure 3). Quality assurance of the pXRF results was done by sending split soil samples to an accredited laboratory for confirmatory analysis. Similar to the soil grid over the Terry target, the new grid outlined a widespread and remarkably high Cu-in-soil anomaly, with numerous multi-sample anomalies in excess of 0.1% Cu, consistent with high-grade copper rock sampling identified in the new showings, e.g. Scorcher (Figure 2). The final drill hole of the season was oriented to test newly identified copper mineralization at the Scorcher discovery (a second porphyry target located 2 km southeast of Terry) and the associated overlying soil anomaly.

Figure 2: Photograph of mineralization observed in the new Scorcher showing strong malachite and chrysocolla mineralization and disseminated chalcopyrite hosted in a syenite phase. (CNW Group/[nxtlink id=

Figure 3: Plan map illustrating the distribution of drilling at the Terry target and the XRF Cu-in-soil results from the soil sampling programs. (CNW Group/[nxtlink id=

About Big Red

Big Red is a 26,000-hectare district scale land package with both copper and gold targets, road access, and an airstrip. Big Red is located 45 kilometres southwest of Telegraph Creek along the Barrington Road, 70 kilometres north of Galore Creek and 70 kilometres northwest of Schaft Creek in the Golden Triangle of northwestern British Columbia, Canada. The Golden Triangle is a mining district of prodigious gold and copper mineralization and host to some of Canada’s most famous mines (Premier, Red Chris, Snip, Brucejack, Eskay Creek) and porphyry copper deposits (Galore Creek, Schaft Creek, KSM, Saddle).

At Big Red, the Terry porphyry copper target is peripheral to a distinct large magnetic-high feature over the Limpoke Pluton that coincides with a radiometric potassium anomaly, magnetic low, conductivity high, copper, gold, silver, and molybdenum anomalies and a mapped Jurassic aged porphyry intrusion. The discovery hole drilled in Terry in October 2020 returned 120 metres of 0.41% copper equivalent* from surface to end of hole including 73 metres of 0.49% copper equivalent* from surface. Mineralization is associated with a porphyritic dyke swarm hosted in intermediate volcanic rocks. Chalcopyrite mineralization occurs as fine disseminations within the porphyritic dykes and volcanic host rocks, with higher concentrations along the margins. The rock textures, alteration styles and geological setting at Terry share similarities with British Columbia alkalic porphyry deposits, including Galore Creek located 70 kilometres to the south. The discovery is located just 8 km from road access at an elevation of 700 metres with relatively low snowfall.  The Big Red camp has both road access and an airstrip.

About Libero Copper & Gold

Libero is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new grassroots discovery) and Big Bulk in the Golden Triangle, Canada; Esperanza in San Juan, Argentina; and Mocoa in Putumayo, Colombia. These assets are advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.

Thomas Mumford, Ph.D., P.Geo, a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of Libero.

*The prices used to calculate CuEq are: Cu: $3.50/lb, Au: $1,850/oz, Ag: $25/oz. All values are reported in USD and do not consider metal recoveries.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  This news release includes forward-looking statements that are subject to risks and uncertainties.  All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

SOURCE Libero Copper & Gold Corporation.









Author: Author

Share this article:

Continue Reading

Precious Metals

Freeman Gold Reports on the Beauty Zone – A High Grade Gold Target Adjacent to Lemhi Gold Resource

Freeman Gold Reports on the Beauty Zone – A High Grade Gold Target Adjacent to Lemhi Gold Resource
Canada NewsWire
VANCOUVER, BC, Oct. 25, 2021

350 metre by 250 metre coincidental gold in rock and soil anomaly open in 3 directions Located 600 metre…

Share this article:

Freeman Gold Reports on the Beauty Zone – A High Grade Gold Target Adjacent to Lemhi Gold Resource

Canada NewsWire

  • 350 metre by 250 metre coincidental gold in rock and soil anomaly open in 3 directions
  • Located 600 metres west of Lemhi gold resource
  • 52 of 105 rock samples greater than 1 g/t Au with 28 samples greater than 10 g/t Au
  • (up to 450 g/t Au)
  • Zone is heavily oxidized and silicified at surface
  • Trenching and drill pad construction are underway.

CANADIAN SECURITIES EXCHANGE: FMAN

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – Freeman Gold Corp. (CSE: FMAN) (OTCQB: FMANF) (FSE: 3WU) (“Freeman” or the “Company“) is pleased to report geochemical results from the newly discovered Beauty Zone (“Beauty Zone“). This zone lies approximately 600 metres west of the Lemhi Gold Deposit where Freeman recently reported a maiden Mineral Resource Estimate on July 8, 2021.

The untested Beauty Zone lies wholly within Freeman’s patented mining claims and is defined by a 350 metre by 250 metre coincidental gold in rock and soil anomaly. Sections of this zone were hydraulically mined between 1890 and the early 1900s. The Beauty Zone was first identified from prospecting during the 2020 field work program, described as Target 1 in the press release dated May 6, 2021. The Beauty Zone’s location in relation to the Lemhi Gold Deposit and other exploration targets is shown in Figure 1.

FIGURE 1: BEAUTY ZONE TARGETS – Location in Relation to Lemhi Gold Deposit (CNW Group/[nxtlink id=

“With the discovery of the Beauty Zone we have added a high quality target to our resource potential,” commented Paul Matysek, Executive Chairman. “We are very excited about the prospects of adding near surface, high grade oxide ounces near Lemhi. The similarities between their geological settings and the very prospective geochemical results are striking. It’s a beauty! Drill pads are being constructed for drill testing.”

In total, 105 rock grab and 347 soil samples have been collected in and around the Beauty Zone. A total of 52 rock samples returned values greater than 1 gram per tonne (“g/t“) gold (“Au“), 39 with values greater than 5 g/t Au and 28 samples with greater than 10 g/t Au (up to 450 g/t Au).  Rock samples are heavily oxidized and silicified at surface. (See Table 1: Figure 2)

TABLE 1: ROCK GRAB SAMPLE HIGHLIGHTS* (CNW Group/[nxtlink id=

FIGURE 2: BEAUTY ZONE TARGET – Rock Grab Samples (CNW Group/[nxtlink id=

One contrast to mineralization at the Lemhi Gold Deposit is the presence of associated silver in many of the anomalous rock samples.  Of the 105 rock grab sample results received to date, 48 samples at the Beauty zone contain greater than 10 g/t silver (“Ag“) (up to 219 g/t Ag).  Furthermore, the anomalous rock grabs coincide with a gold in soil anomaly (identified by Freeman during the 2020/2021 exploration campaigns) which is approximately 350 by 250 metres.

The Beauty Zone Target is hosted in Proterozoic silttites and quartzites similar to the Lemhi Gold Deposit.  The target area is structurally complex. Within the center of Beauty Zone is an interpreted Northeast-Southwest (“NE-SW“) striking fault. The host metasediments dip in opposite directions on either side of this fault (NW in the east block, SE in the west block). Although there is a limited amount of outcrop exposed, it appears that gold-silver mineralization is hosted in Northwest-Southeast oriented quartz veins which following jointing patterns running sub-perpendicular bedding and the NE trending fault. A fold observed in the outcropping quartz veins has rock grab samples containing 46 g/t Au and 56 g/t Ag. These high-grade quartz veins exposed at surface represent a compelling target with respect to gold-silver mineralization on the property (See Figure 2).

Recently, Freeman re-established road cuts over the Beauty Zone Target and exposed additional outcrops containing quartz veins, altered and oxidized silttites, silicified silttites and/or quartzites, fault gouges and folded stratigraphy. The outcrops are all currently being mapped and rock channel sampled. Drill pads are being constructed for initial drill testing.

All drill rock samples are sent to ALS Minerals Division, Vancouver, BC, an independent and fully accredited laboratory in Canada for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy. Freeman has a regimented Quality Assurance, Quality Control program where at least 10% duplicates, blanks and standards are inserted into each sample shipment. Additionally, soil samples were sent to SGS Canada Inc. and analyzed using Ionic Leach (“IL”) method. Rock grab samples are by their nature selective and are not necessarily indicative of the general geology or the grade within the Property.

About the Company

Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property (the “Lemhi Project“). The Lemhi Project comprises 30 square kilometres of highly prospective land. The project hosts a near surface, shallow, high grade oxide gold resource. The pit constrained National Instrument 43-101 compliant mineral resource estimate is comprised of 749,800 oz gold (“Au”) at 1.02 grams per tonne (“g/t”) in 22.94 million tonnes (Indicated) and 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes (Inferred). The Company is focused on growing and advancing the Lemhi Project towards a production decision. The technical content of this news release has been reviewed and approved by Dean Besserer, P.Geol., VP Exploration of the Company and a Qualified Person as defined by National Instrument 43-101.

On Behalf of the Company
William Randall
President & CEO

Forward Looking Statements: This press release contains “forward–looking information or statements” within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties, and assumptions. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/freeman-gold-reports-on-the-beauty-zone–a-high-grade-gold-target-adjacent-to-lemhi-gold-resource-301407346.html

SOURCE Freeman Gold Corp.





Author: Author

Share this article:

Continue Reading

Today’s News

Silverton Metals Announces Exploration Update Pluton Silver-Zinc-Lead Project, Durango, Mexico

Silverton Metals Announces Exploration Update Pluton Silver-Zinc-Lead Project, Durango, Mexico
Canada NewsWire
VANCOUVER, BC, Oct. 25, 2021

VANCOUVER, BC, Oct. 25, 2021 /CNW/ — Silverton Metals Corp. (TSX-V: SVTN) (OTCQB: SVTNF) (“Silverton” or th…

Share this article:

Silverton Metals Announces Exploration Update Pluton Silver-Zinc-Lead Project, Durango, Mexico

Canada NewsWire

VANCOUVER, BC, Oct. 25, 2021 /CNW/ — Silverton Metals Corp. (TSX-V: SVTN) (OTCQB: SVTNF) (“Silverton” or the “Company”) is pleased to provide an update of exploration activities at the Pluton silver-zinc-lead project in the state of Durango, Mexico. Recent processing and 3D-modelling of geophysical data commissioned by the company reveals new target areas and features not previously identified, which are potentially related to mineralization. To date, magnetometry reprocessing has been completed while ZTEM and gravity modelling are in progress.  Permitting is underway for a seismic test line scheduled to be surveyed before year end. The seismic profile is expected to determine the depth to carbonate rocks that host silver-rich manto-chimney deposits (aka CRD’s or carbonate replacement deposits) in the district (see SVTN September 27 news release).

Mag 3D modelling of magnetic data, in addition to having identified a new target, has refined the location and shape of magnetic bodies (interpreted as intrusive rocks), alteration zones and structures, all especially useful for the selection of drill targets.

The new target area called San Andres, located south of the Dos Amigos target, is added to the five targets previously identified (Fig 1). The prospectivity of the Dos Amigos-San Andres area is highlighted by surface assays on dumps (between 4%-5.5% Pb-Zn) and assays of drill hole 2 drilled in Dos Amigos area (6.6% Pb, and 9.5% combined Zn-Pb in sub-meter (0.6m) veinlets intercepts 80 meters and 160 meters below surface, respectively). These vein intercepts occur in capping shales and are interpreted to be connected to larger mineralized bodies once the veinlets reach the favourable carbonate horizons that underlie the shales. Magnetic 3D modelling indicates deep magnetic bodies below the Dos Amigos-San Andres area suggesting potential mineralized bodies rooted in intrusive rocks at depth (Fig 2).

In addition to the magnetic, electromagnetic (ZTEM) and gravity data mentioned above, Silverton also obtained ground NSAMT data as well as an extensive dataset of rock and soil geochemical data that will be integrated with geological information and evaluated to rank drill targets.

Mr. John Theobald, President & CEO of Silverton comments “I am very pleased to have retrieved original geophysical databases and be working with top experts to evaluate the data. Modern 3D processing, integration and reinterpretation of multiple datasets including geology, geochemistry and geophysics, will be very valuable to refine and rank drilling targets. Pluton district is a major hydrothermal system with excellent potential to locate high-grade silver-lead-zinc manto-chimney deposits similar to those mined in the historic Ojuela Mine and the nearby Platosa mine, which is Mexico’s highest-grade silver mine with a silver equivalent grade of over 1,000g/t1. We look forward to completing the analysis of the geophysical data in the next few weeks and have results of the seismic survey by 1Q2022.  Subject to results of data evaluation, drilling permitting is planned for 1H2022 and drilling of selected targets for 2H2022″.

1 Excellon’s website corporate presentation July 2021

Figure 1.  Total magnetic intensity showing target areas identified to date and location of historic drill holes.

Infographic – https://mma.prnewswire.com/media/1668446/Silverton_Metals_1_Infographic.jpg

Figure 2.  3D Magnetic vector inversion (3DMVI) at a 1,000 meters depth.  Source: heliborne magnetic survey flown by Geotech in 2010 with 150 meter line spacing at an average of 57 meters mag sensor ground clearance.  Targets outside the colored block were selected based on geological, geochemical and regional magnetic data. (Regional mag map shown in Fig 1).

Figure 2. 3D Magnetic vector inversion (3DMVI) at a 1,000 meters depth. Source: heliborne magnetic survey flown by Geotech in 2010 with 150 meter line spacing at an average of 57 meters mag sensor ground clearance. Targets outside the colored block were selected based on geological, geochemical and regional magnetic data. (Regional mag map shown in Fig 1). (PRNewsfoto/[nxtlink id=

Infographic – https://mma.prnewswire.com/media/1668445/Silverton_Metals_2_Infographic.jpg

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Peter Born, P. Geo., a Qualified Person for the purpose of NI 43-101.

On behalf of the Board

John Theobald
President, CEO & Director
Silverton Metals Corp

About Silverton Metals Corp

Silverton Metals Corp is a Canadian company focused on the exploration and development of quality silver projects. The company holds a 100% interest in three significant silver assets in Mexico – Pluton, in Durango, Peñasco Quemado in Sonora and La Frazada in Nayarit. Silverton management and board have extensive experience identifying and evaluating acquisition targets and exploration prospects. The company intends to build a strong portfolio of silver and gold-silver projects to drive future growth by exploration success and from later stage projects with production potential. To achieve this growth the Silverton business plan calls for a dynamic combination of development of its existing properties, acquisitions, and partnerships.

For further information please contact:

Silverton Metals Corp.
W. Barry Girling, VP Corporate Development and Director
(604) 683-0911

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silverton cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Silverton’s control. Such factors include, among other things: risks and uncertainties relating to Silverton’s limited operating history and the need to comply with environmental and governmental regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Silverton undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information please contact:

Silverton Metals Corp.
John Theobald, CEO and Director
www.silvertonmetals.ca 
(604) 683-0911

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/silverton-metals-announces-exploration-update-pluton-silverzinclead-project-durango-mexico-301407157.html

SOURCE Silverton Metals Corp.









Author: Author

Share this article:

Continue Reading

Trending