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Avrupa Minerals Drills 22.25 meters of 0.42% Copper and Additional Intercepts at Sesmarias North, Alvalade Project, Portugal

– Discovery of downdip massive sulfide mineralization on 8 Lens;

 

– 3,580 meters drilled to date in seven diamond drill holes on three sections;

 

-…

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  • – Discovery of downdip massive sulfide mineralization on 8 Lens;

 

  • – 3,580 meters drilled to date in seven diamond drill holes on three sections;

 

  • – Results from SES21-032 through SES21-036 included;

 

  • – SES21-033: 22.25 meters @ 0.42% Copper, 2.07% Zinc; 1.05% Lead; 0.58 ppm Gold, and 39.3 ppm Silver in semi-massive to massive sulfide mineralization from 363.00 meters to 385.25 meters;

 

  • – SES21-036:  17.00 meters @ 0.39% Copper; 2.11% Zinc; 1.10% Lead; 0.4 ppm Gold; and 34.1 ppm Silver in semi-massive to massive sulfide mineralization from 406.10 meters to 423.20 meters;

 

  • – Mineralization in both holes lies within a wider zone of stockwork sulfide veins and replacements in strongly altered black shales and volcanic rocks of the mineral host horizon;

 

  • – SES21-037: Just completed, targets further downdip potential on Section 000;

 

  • – SES21-038: Commences on Section 070 S to test strike potential to the south.

  

June 9, 2021 – TheNewswire – Avrupa Minerals Ltd. (TSXV:AVU) (OTC:AVPMF) is pleased to present an interim progress report covering drilling at the Sesmarias Copper-Zinc Prospect within the Alvalade Project (Alentejo, Portugal).  The program is a joint venture between Avrupa Minerals and Minas de Aguas Teñidas, S.A. (MATSA) and is operated by Avrupa through the JV entity PorMining Lda.  To date, the Company has completed seven diamond drill holes on three different fences, totaling 3,580 meters, and has started an eighth hole testing potential massive sulfide mineralization on Section 070S, located approximately 70 meters south of Section 000.

 

Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, “We have now extended the 8 Lens 150 meters downdip from a 5-meter intercept in SES008 of 0.64% Cu, 36.8 g/t Ag, 0.94% Pb, and 1.54% Zn to intercepts of 20+ meters in SES21-033 and 036.  This is the first time that we have intercepted significant downdip mineralization on any of the massive sulfide lenses at Sesmarias.

 

Our upgraded understanding of the structural controls of the mineralization suggests longer potential strike length possibilities which we will initially follow-up to the south in SES21-038.  This hole will be collared 50 meters northeast of SES20-031 which just touched on mineralization.  As we look to extending the 8 Lens to the south on Section 70S, and locating the potential copper-rich zones there, we are also making drill plans for extension of the 8 Lens to the north and to re-visit the Discovery Lens area.”

Section 000.  

 

The Company has now drilled five holes, in different phases of drilling, on Section 000 which includes, from west to east, SES21-032, SES008, SES21-033, SES21-036, and SES21-037.  We previously reported results for SES008 (May 2014) and SES21-032 (February 2021) along this section, and for SES20-031 on Section 70S (February 2021).

 


Click Image To View Full Size

 

Figure 1.  Plan view of Sesmarias North drilling, with cross section lines (in blue) and surface expression of the 8 Lens Target Zone (in red).  Drilling is complete on Section 000 for now, and the drill rig has moved southeast to Section 070 S.  The new hole, SES21-038, on Section 070 S, targets potential massive sulfide mineralization in a geological position equivalent to mineralization intersected in SES21-033 and 036.

 

SES21-032.  As reported in February 2021, this hole cut the mineral horizon black shales, but above and distal to massive sulfide mineralization, as shown in the cross section below.  Results included low anomalous levels of important indicator metals, including arsenic, antimony, manganese, and molybdenum.  Copper, lead, and zinc showed weakly elevated levels, as well, suggesting some measure of proximity to massive mineralization in the subsequent drill holes.  This kind of geochemical pattern will assist in vectoring towards mineralization in future target areas.

 

SES008.  The Company drilled the 8 Lens discovery hole in 2014, and reported 5.0 meters of 0.64% copper, 0.94% lead, and 1.54% zinc, inside a slightly wider interval of 5.5 meters of 1.17 ppm gold and 36.8 ppm silver.  Massive sulfide mineralization lies within a wider zone of 33.1 meters of sulfide-bearing black shales and volcanics.  The entire sulfide zone is bounded, top and bottom, by faulting.

 

SES21-033.  Discovery of downdip massive sulfide mineralization of the 8 Lens in SES21-033, collared five meters northeast of SES008.  After passing through the upper bounding fault zone, the hole intercepted 31.4 meters of disseminated, laminated, and stockwork sulfide mineralization, beginning from a depth of 331.6 meters and continuing downwards to 363.0 meters.  Total amount of sulfides generally increases with depth, as do anomalous levels of copper, lead, and zinc.  Significant copper-lead-zinc mineralization in massive sulfide material begins at 363.0 meters and terminates at 385.25 meters at the lower fault.  The complete mineral zone, bounded by faults, totals 53.65 meters.

 

Meters

From

To

Cu (%)

Zn (%)

Pb (%)

Au (ppm)

Ag (ppm)

22.25

363.00

385.25

0.42

2.07

1.05

0.58

39.3

Incl.

Best overall zone

         

6.00

375.60

381.60

0.38

4.14

2.04

0.81

63.6

And

Best copper zone

         

4.65

380.60

385.25

0.66

       

  

Table 1.  SES21-033 intercept information.

 

SES21-036.  This hole was collared 30 meters to the northeast of SES21-033.  In hole 036, the entire fault-bounded zone of sulfide-bearing black shales and volcanics increases to 80.2 meters, with 17.0 meters of massive sulfide mineralization visible in the core.  The hole entered the sulfide mineralized zone at 342.90 meters, with increasing and more intense stockwork mineralization followed by semi-massive sulfides downwards to 406.10 meters.  Metal values increase downhole with increased amounts of sulfides.  The drillhole passed through semi-massive sulfides at this point, and continued through massive mineralization to 423.10 meters, where it is truncated by a fault.  The mass also shows internal higher-grade base metal zonation, as noted in the table below.  Further review is necessary to assist in vectoring towards the potential high-grade portions of the deposit.  

 

Meters

From

To

Cu (%)

Zn (%)

Pb (%)

Au (ppm)

Ag (ppm)

17.00

406.10

423.10

0.39

2.11

1.10

0.40

34.1

Incl.

Best overall zone

         

4.00

411.10

415.10

0.33

4.41

2.26

0.59

51.7

And

Best copper zone

         

7.00

415.10

422.10

0.47

       

And

Best Zn-Pb-Ag zone

         

2.00

413.10

415.10

 

5.98

3.34

 

64.0

And

Best gold zone

         

4.00

402.10

406.10

     

1.03

 

Total copper zone (semi-massive to massive sulfides)

     

56.00

367.10

423.10

0.30

   

0.42

 

 

Table 2.  SES21-036 intercept information.  Note copper-gold association over the 56-meter stockwork/semi-massive/massive interval.  We see this spatial gold-copper correlation in other holes, as gold appears to act as an indicator metal for close proximity to the massive sulfide mineralization.

 

SES21-037.  To attempt to further increase the downdip projection of the 8 Lens, this hole was collared 30 meters to the northeast of SES21-036 along Section 000.  However, the massive sulfide body appears to be thinning with depth, and increased faulting surely complicates the sulfide mineralized zone in SES21-037.  Geological review is ongoing.  Sampling will commence upon completion of the review and compilation of the new information.  Results will be expected towards the end of June.

 

Geological and geochemical results from drilling along Section 000 suggest a downdip projection of about 150 meters of massive sulfides on this section, up to 20 meters thick, and lying within a wider package of lower grade stockwork/replacement sulfide mineralization.  Results from both a recent mise-a-la-masse geophysical study and a coincident grid geochemical survey covering the overall 8 Lens target area suggest further massive sulfide potential, both to the northwest and to the southeast.

 


Click Image To View Full Size

 

Figure 2.  Section 000:  Simplified geological section, showing massive sulfides and stockwork zone in SES008, SES21-033, and SES21-036.   The Company just completed SES21-037, but has not yet fully reviewed in detail, nor sampled the hole at this time.  The work is in progress, and the Company expects results by the end of June.  Note that the mineralized zone from SES008 downdip to SES21-036 is bounded by faulting.

Section 070 S.  

 

Previous drilling at SES20-031 and at SES028 suggests that massive sulfide mineralization could continue to the south from Section 000.  We collared SES21-038 on Section 070 S to target potential massive mineralization in a similar geological position to the intercepts in SES21-033 and 036.  Drilling in SES028, in 2018-19, intercepted a long interval of stockwork mineralization interpreted to lie geologically below potential massive sulfide mineralization.  Drilling in SES20-031, late last year, intersected weakly mineralized silica material interpreted to lie geologically above possible massive sulfide mineralization.

 

Section 050 N.  

 

The Company drilled two holes on Section 050 N, located 50 meters north of Section 000.  Prior to drilling we suspected possible east-west faulting between the two sections, with unknown transposition between the north side and south side of the fault.

 

SES21-034 and SES21-035.  These two holes targeted the northerly continuation of the 8 Lens in roughly the same geological position of the massive sulfide zone intersected in SES21-033.  However, geological complications caused by faulting and folding of the target units appear, for all practical appearances, to have transposed the massive sulfide targets somewhat to the east.  As both drill holes now appear to have been collared too far to the west, the results indicate that the Company drilled over the potential massive sulfide zone, just as SES21-032 did in Section 000.  SES21-034 crossed mineral horizon gray and black shales with elevated results in indicator metals arsenic and antimony, as well as lead.  SES21-035 crossed 12.2 meters of stockwork sulfides in mineral horizon black shales from 333.90 meters to 346.10 meters.  Geochemical results show anomalous gold, silver, copper, lead, and zinc levels, as well as elevated indicator metals antimony and arsenic, suggesting close proximity to a potential massive sulfide zone.

 

Metal

Average

High

Copper

0.08%

0.28%

Zinc

0.42%

1.51%

Lead

0.23%

1.03%

Gold

0.16 ppm

0.61 ppm

Silver

5.96 ppm

33.9 ppm

 

Table 3.  SES21-035 stockwork intercept results are strongly anomalous and suggest potential for nearby massive sulfide mineralization.  The Company is planning to drill further on Section 050 N.  Given this anomalism and a good understanding of the geology, it is apparent that the next hole on this section should be collared to the northeast of SES21-035, to target northerly extension of the 8 Lens and potential copper-zinc mineralization.

 

In addition to continued work in the Sesmarias North area around the 8 Lens, the Company anticipates moving forward on exploration targets to the north of the 8 Lens in the Brejo area, as reported in the news release of February 24, 2021.  Access to potential drilling sites is permitted now, and we are looking to add a second drill rig to the program in the near future.  The Company is also re-mapping the Monte da Bela Vista target area and is in the midst of a 375-sample, grid soil collection program to analyze the material using ultra-trace level analytical techniques in a program to assist in target definition and drill collar location.

 

The continuing work program is fully funded by Minas de Aguas Teñidas, S.A. (“MATSA”).  MATSA can initially earn a 51% interest in the Alvalade Experimental Exploitation License property by completing funding requirements set out in the joint venture agreement between the companies. MATSA may then increase their interest in the Project to 85% by preparing a bankable feasibility study.  Avrupa previously described the details of the agreement in news releases dated October 1, 2019 and November 20, 2019.

 

Minas de Aguas Teñidas, S.A. (MATSA) is a private Spanish mining company, which owns and operates three mines in the province of Huelva (Andalusia, Spain):  Aguas Teñidas, Magdalena, and Sotiel.  MATSA also holds 1,312 km2 of exploration permits in the south of Spain and 1,106 km2 in Portugal. Focused on innovation and the most advanced technology to develop modern and sustainable mines, MATSA is a 50:50 joint venture company of Mubadala Investment Company, a sovereign investor managing a global portfolio aimed at generating sustainable returns for its shareholder, the Government of Abu Dhabi, and Trafigura, one of the world’s leading commodity trading houses.

 

Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model.  The Company holds one 100%-owned license in Portugal, the Alvalade VMS Project, now optioned to MATSA in an earn-in joint venture agreement.  Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal and Kosovo.  The Company continues to seek and develop other opportunities around Europe.

 

For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com.

   

On behalf of the Board,

 

“Paul W. Kuhn”

                               

Paul W. Kuhn, President & Director

  

This news release was prepared by Company management, who take full responsibility for its content.  Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.  He has reviewed the technical disclosure in this release.  Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.

 

Information about the Lousal Mine comes directly from published academic documents prepared by the geological survey of Portugal (LNEG), theses from the University of Lisbon, private company documents authored by mine geologists employed at one time by the Lousal Mine, and copies of original mine records.  The information is considered accurate, but NOT compliant to present-day NI 43-101 regulations and standards.

 

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.

Copyright (c) 2021 TheNewswire – All rights reserved.





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Giyani Announces Filing of Final Prospectus for $10 Million Bought Deal Equity Offering and Amended Technical Report

Not for distribution to U.S. newswire services or for dissemination in the United States TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Giyani Metals Corp….

Not for distribution to U.S. newswire services or for dissemination in the United States

TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (“Giyani” or the “Company“), announces the filing of its final prospectus for its previously announced bought deal public offering of units to raise approximately $10 million (the “Offering“).

The Offering is led by Cormark Securities Inc. and Beacon Securities Limited (the “Co-Lead Underwriters“) pursuant to which the Co-Lead Underwriters have agreed to purchase 22,727,300 units (the “Units“) from the treasury of the Company, at a price of $0.44 per Unit for total gross proceeds to Giyani of approximately $10 million. Each Unit will consist of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Warrant“). Each Warrant will entitle the holder thereof to acquire one Common Share from the Company at a price of $0.60 per Common Share for a period of 24 months after the closing of the Offering.

The Offering is now expected to close on or about December 3, 2021.

Concurrent with the filing of the final prospectus, Giyani filed an updated and amended technical report, prepared in accordance with National Instrument 43-101 (“NI 43-101“), on its K.Hill manganese project in Botswana titled “A Mineral Resource Estimate For The Kgwakgwe Hill Manganese Project, Botswana.” The amended and restated technical report is being refiled to reflect comments received from the Staff of the Ontario Securities Commission as a part of the prospectus review process in connection with the Offering. The amended and restated technical report now includes further qualified person support for the use of proceeds, work programs and budgets of the Company disclosed in the final prospectus.

About Giyani Metals Corp.

Giyani is a mineral resource company focused on becoming one of Africa’s first low-carbon producers of high-purity electrolytic manganese precursor materials, used by battery manufacturers for the expanding electric vehicle market, through the advancement of its manganese assets in the Kanye Basin in south-eastern Botswana (the “Kanye Basin Prospects“), through its wholly-owned Botswana subsidiary Menzi Battery (Pty) Limited. The Company’s Kanye Basin Prospects consist of 10 prospecting licenses and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Project, the Otse manganese prospect and the Lobatse manganese prospect, all of which have seen historical mining activities.

Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. website at https://giyanimetals.com/

On behalf of the Board of Directors of Giyani Metals Corp.

Robin Birchall, CEO

Contact:

Robin Birchall CEO, Director
+44 7711 313019
[email protected]

George Donne
VP Business Development
+44 7866 591 897
[email protected]

Judith Webster
Corporate Secretary and Investor Relations
+1 416 453 8818
[email protected]

Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act (“U.S. Persons”), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities to, or for the account of benefit of, persons in the United States or U.S. Persons.

Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani 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”, “does not expect”, “plans”, “anticipates”, “does not anticipate”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled”, “forecast”, “budget” and similar expressions, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. Specific forward-looking statements and forward-looking information herein includes completion of the Offering.

All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani’s ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani’s ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks in how the world-wide economic and social impact of COVID-19 is managed; risks related to governmental regulations; risks related to obtaining necessary licenses and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani’s forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.

Giyani’s forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management’s beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani’s Annual Information Form, all of which are filed on SEDAR at www.sedar.com.




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Aguila American Gold Announces Name Change

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – Aguila American Gold Limited (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) ("Aguila" or…

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – Aguila American Gold Limited (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) (“Aguila” or the “Company”) Mr. Mark Saxon, CEO, announces that effective December 3rd , 2021, the name of the Company will be changed to “Aguila Copper Corp.” The name change was approved by the board of directors, in accordance with the articles of the Company, and has been accepted by the TSX Venture Exchange. On December 3rd, 2021 , the Company’s common shares will commence trading on the TSX Venture Exchange under its new name “Aguila Copper Corp.” There is no change to the Company’s trading symbol “AGL.”

We are pleased to announce the new name for the Company, which better reflects the current and future asset portfolio,” said Mr. Mark Saxon, President & CEO. “We see tremendous opportunity for the exploration and development of copper projects in supportive North American jurisdictions, and are pleased to play a role in the provision of the essential materials for the energy transition. We will soon transition to new website and brand.”

About Aguila American Gold Ltd (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E)

Aguila American Gold is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery.

ON BEHALF OF THE BOARD,

“Mark Saxon”

Mark Saxon
President & CEO

For further information, please contact:
aguila.gold
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
[email protected]

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.

Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105982



aguila american gold limited

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79 Resources Ltd. Closes First Tranche Of Financing

VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / 79 Resources Ltd. (CSE:SNR) ("79 Resources" or the "Company") is pleased to announce that further to its…

VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / 79 Resources Ltd. (CSE:SNR) (“79 Resources” or the “Company”) is pleased to announce that further to its press release dated October 27, 2021, the Company has closed a first tranche of its non-brokered private placement. The Company issued 1,575,000 non-flow-through common share units (the “Units”) at a price of $0.10 per Unit and 1,077,000 flow-through common share units (the “FT Units”) at a price of $0.125 per FT Unit, for aggregate gross proceeds of $292,152.00.

Each Unit is comprised of one common share (a “Share”) and one transferable Share purchase warrant (a “Warrant”) of the Company and each FT Unit is comprised of one flow-through common share (a “Flow-Through Share”) and one half of one transferable Share purchase warrant. Each whole Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.20 per Warrant Share for a 24-month period. The shares and warrants comprising the units are subject to a 4 month hold period expiring April 1, 2022.

Finders’ fees of $19,570 and 178,560 finder’s warrants were paid to arm’s-length parties. Finder’s warrants entitle the finder to purchase one common share in the Company at a price of $0.20 for a period of 24 months from the date of closing.

Proceeds raised from the Private Placements will, as applicable, be used to advance the Company’s exploration projects, including its recently acquired Five Point Property (a district-scale exploration opportunity covering nearly 120,000 hectares in central British Columbia that is located contiguous to Sun Summit Minerals Corp.‘s Buck Project), and for general working capital.

About 79 Resources Ltd.

79 Resources is a Canadian-based junior mining exploration company. Traded on the Canadian Securities Exchange under the symbol SNR, the company seeks to acquire, explore and develop high-potential mining projects. The Company is currently focused on the Five Point Copper-Gold Project (British Columbia) and the North Preston Uranium Project (Saskatchewan).

ON BEHALF OF THE BOARD
“Ryan Kalt”
Ryan Kalt, Director

FOR FURTHER INFORMATION, PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770

Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE: 79 Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/675413/79-Resources-Ltd-Closes-First-Tranche-Of-Financing





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