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Blue Lagoon up 3.85% After Encountering Multiple High-Grade Veins in New Areas at Dome Mountain

VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) is pleased to announce that…

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VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Blue Lagoon Resources Inc. (the “Company“) (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) is pleased to announce that recent drilling has encountered multiple high-grade vein intercepts at the Company’s 100% controlled, year-round accessible Dome Mountain Gold Project located a short 50-minute drive from Smithers, B.C. To date, 5940.5 m have been completed in eighteen diamond drill holes, approximately half of the Company’s planned 12,000 m Phase Two 2021 drill program (Figure 1). Assays results for five holes (Table 1) have been received, highlights of which include:

  • Hole DM-21-177:
    • 47.09 g/t Au eq over 0.65 m
    • 8.05 g/t Au eq over 1.37 m
    • 7.71 g/t Au eq over 3.55 m
    • 20.30 g/t Au eq over 0.75 m
    • 9.22 g/t Au eq over 0.80 m
    • 20.81 g/t Au eq over 0.33 m
  • Hole DM-21-176:
    • 34.05 g/t Au eq over 0.55 m
    • 5.5 g/t Au eq over 1.50 m
    • 22.32 g/t Au eq over 0.33 m
  • Hole DM-21-173:
    • 4.45 g/t Au eq over 2.40 m

The first five exploration holes were drilled in the vicinity of the Freegold showing (Table 2). Strong assay results confirm the strike extent of gold rich veins mapped historically at the surface, demonstrate that multiple veins are present in this area and importantly, indicate mineralization persists to significant depth with the deepest intercept in hole DM-21-177, 20.81 g/t Au eq over 0.33 m, occurring at a down hole depth of 524.9 m, or approximately 450 m below surface. Blue Lagoon is very encouraged by these results and believe they support further drilling in this area.

Although assays have not yet returned, drill holes at Chance Creek, located about 800 m southwest of Freegold, have encountered a new style of mineralization consisting of sulfide bearing quartz veins with disseminated sulfides occurring in surrounding volcanic host rocks. Vein densities of over 30 veins per meter have been observed varying from a high angle to core axis to flat lying. Carbonate alteration is ubiquitous. Blue Lagoon eagerly awaits assays from these holes.

“Intersecting multiple high-grade veins in our first holes from Freegold is a great start,” commented William Cronk, Chief Geologist for Blue Lagoon Resources. “We also feel that the new style of mineralization encountered in drill holes at Chance Creek mineralization could be very important to our ongoing exploration program. Thus far, we have only drilled a small portion of the Chance Creek Structural Corridor, which is over 600 meters wide, extends over 1.5 km in length, and strikes southeast right toward the eastern end of the prolific Boulder Vein system. It is becoming clear that much follow-up drilling will likely be needed to test the on-strike extent of mineralization within this wide mineralized structural corridor,” he added.

Drilling was initiated in the the area of the Freegold showing where historic high-grade gold samples come from veins associated with the Freegold Intrusion, a monzonite intrusion. This intrusion was recently delineated from an airborne magnetics survey completed over the entire Dome Mountin property in 2020 and displays an ovoid magnetic low encircled by an aerole of intensly strong magnetism. Several Phase Two drill holes have encountered intense epidote-magnetite alteration in basaltic andesite thus explaining this strong magnetic ring. Drilling in the magnetic low has confirmed the presence of a monzonite stock. This monzonite locally hosts stockwork molybdenum mineralization, and cross-cutting quartz veins, some with high-grade gold values.

After in-depth discussions in regards to the target model, an alkaline gold system, with Quinton Hennigh, Geologic and Technical Director of Blue Lagoon’s strategic shareholder Crescat Capital, it was determined that more work in the form of ground geophysics (CSAMT, Deep IP and, gravity) should be conducted to collect additional data to help focus drilling in and around the Freegold area. Notwithstanding the fact that nearly all holes drilled to date have encountered anomalous gold mineralization, the Company has decided to temporarily move the drills from the Freegold area to targets located to the west and southwest until ground geophsyics is completed later this year.

Recent drill holes DM-21-186, -187 and -188 positioned approximtely 800 m southwest of Freegold have successfully encountered a new zone of mineralization within the Chance Creek Structural Corridor. Mineralization occurs within sheeted quartz-carbonate veins displaying variable amounts of pyrite, sphalerite, chalcopyrite and traces of galena. Vein orientations vary from high- to low-angle to core axis, and vein intensity varies from greater than 30 veins per meter to less than five per meter. Holes DM-21-186 and -188 encountered zones of mineralized ash tuff displaying disseminated pyrite within zones up to 16 meters thick, the first time such disseminated mineralization has been found on the property. Assays from holes discussed above are eagerly awaited by the Company.

The Company’s second drill rig has been moved to the eastern part of the project where it is now drilling a distinct circular magnetic anomaly thought to be a blind porphry target.

TABLE 1

DH

From
(m)

To
(m)

Interval
(m)

Au
(g/t)

Ag
(g/t)

Pb
(%)

Zn
(%)

Cu
(%)

Au eq
(g/t)

DM-21-172

138.00

138.43

0.43

4.56

12.00

0.04

0.05

0.01

4.77

 

156.70

157.12

0.42

3.99

9.00

0.96

0.03

0.01

4.49

 

371.50

371.72

0.22

4.94

17.00

0.05

0.22

0.03

5.34

DM-21-173

44.98

45.71

0.73

2.88

67.71

0.29

0.34

0.04

4.07

 

69.17

69.82

0.65

4.59

3.00

<0.02

0.04

0.09

4.79

 

215.38

217.78

2.40

4.34

3.15

0.01

0.11

0.01

4.45

Including

216.48

217.12

0.64

8.84

7.00

0.01

0.13

0.02

9.03

 

373.82

373.95

0.13

8.05

28.00

0.33

4.24

0.26

11.17

DM-21-174

No significant values

DM-21-175

25.70

29.95

4.25

1.80

20.00

0.09

0.45

0.02

2.35

 

124.78

125.05

0.27

2.56

11.00

0.18

0.11

0.04

2.89

 

181.00

182.00

1.00

4.17

<2.00

<0.02

0.04

0.01

4.21

 

205.40

206.30

0.90

1.68

5.00

<0.02

0.03

0.02

1.79

 

225.55

226.70

1.15

1.43

<2.00

<0.02

0.05

0.00

1.46

DM-21-176

86.70

87.25

0.55

33.30

15.00

0.16

0.82

0.05

34.05

 

145.00

145.12

0.12

16.80

17.00

0.10

<0.01

0.00

17.05

 

157.50

159.00

1.50

5.47

<2.00

0.03

0.03

0.00

5.50

 

316.75

317.20

0.45

2.99

32.00

0.12

0.11

0.01

3.51

 

458.15

458.48

0.33

17.90

162.00

2.42

2.21

0.20

22.32

 

462.05

462.25

0.20

5.66

13.00

0.05

<0.01

0.03

5.89

 

482.00

483.59

1.59

2.33

16.00

0.62

0.05

0.00

2.79

DM-21-177

45.65

46.30

0.65

40.00

441.00

1.08

1.63

0.19

47.09

 

164.30

164.55

0.25

3.93

7.00

<0.02

0.03

0.04

4.09

 

229.63

231.00

1.37

6.73

47.00

0.03

0.62

0.25

8.05

 

239.95

243.50

3.55

6.44

25.17

0.09

1.41

0.11

7.71

Including

239.95

240.45

0.50

41.60

168.00

0.28

8.82

0.69

49.55

 

247.85

248.60

0.75

18.70

21.00

0.05

2.16

0.12

20.30

 

296.85

297.90

1.05

3.72

17.86

0.02

0.25

0.12

4.27

 

362.60

363.12

0.52

1.42

82.00

0.07

0.05

0.08

2.63

 

392.05

392.41

0.36

1.75

14.00

0.04

0.02

0.12

2.14

 

430.85

431.65

0.80

8.56

13.00

0.22

0.63

0.06

9.22

 

433.63

434.17

0.54

1.20

9.00

0.27

0.60

0.02

1.76

 

518.00

519.10

1.10

1.23

11.00

0.07

0.35

0.03

1.64

 

524.90

525.23

0.33

19.20

52.00

0.70

1.00

0.11

20.81

Au eq (g/t) = Au (g/t) + (Ag (g/t)/80) + (Pb (%)/2.64) + (Zn (%)/1.90) + (Cu (%)/0.626)
True widths of veins cannot be estimated at this early stage.

TABLE 2

DH

Azimuth

Dip

Depth (m)

DM-21-172

260

-45

410

DM-21-173

60

-50

425

DM-21-174

310

-60

301

DM-21-175

110

-45

452

DM-21-176

325

-50

546

DM-21-177

110

-60

569

DM-21-178

110

-70

401

DM-21-179

235

-52

403

DM-21-180

110

-50

235

DM-21-181

55

-52

354

DM-21-182

235

-50

254.5

DM-21-183

55

-65

190

DM-21-184

70

-50

135

DM-21-185

240

-50

400

DM-21-186

240

-65

365

DM-21-187

210

-50

278

DM-21-188

210

-50

97

DM-21-188A

210

-50

125

       
   

TOTAL

5940.5

Figure 1

QUALITY ASSURANCE AND CONTROL

All core analyses were completed by Bureau Veritas out of Vancouver. Core selected for sampling was cut with a core saw in half with one half bagged for shipping. Strict chain of custody storing, and shipping protocol were maintained. Core was crushed, split, and pulverized with 250 grams passing 200 mesh. Each sample was analyzed by MA370 4-acid digestion ICP with ES finish and FA 150 fire assay with ICP-MS finish, and all Au overlimits >1ppm were analyzed with FA 550 fire assay and gravimetric finish. Standards and Blanks were inserted by Company staff. The sampling program was undertaken by Company personnel by and under the direction of Dr. Mathias Westphal P.Geo.

The scientific and technical data contained in this news release was approved by William Cronk, P.Geo., a qualified person as defined in NI 43-101 and a consultant to the Company.

For further information, please contact:

Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: [email protected]

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (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 materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration and exploitation of minerals deposits, market prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

SOURCE: Blue Lagoon Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/665143/Blue-Lagoon-Encounters-Multiple-High-Grade-Veins-in-New-Areas-at-Dome-Mountain

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Today’s News

Gungnir Receives $665,000 from Warrant and Option Exercises

SURREY, BC / ACCESSWIRE / October 27, 2021 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") is pleased to announce that…

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SURREY, BC / ACCESSWIRE / October 27, 2021 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) (“Gungnir” or the “Company”) is pleased to announce that subsequent to the September 10, 2021 news release announcing the closing of a $298,200 private placement, the Company has received approximately $665,000 from the exercise of stock options and warrants.

Gungnir directors and officers exercised 1,700,000 stock options at six cents per share for proceeds of $102,000. Proceeds of approximately $563,000 were received from the exercise of warrants and agent warrants at five and nine cents per share. The Company issued a total of 12,817,665 common shares for these transactions.

The proceeds will be used for the Company’s exploration activities in Sweden and for general corporate purposes.

About Gungnir Resources

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V, ASWRF: OTCPK) with gold and base metal projects in northern Sweden. Gungnir’s assets include two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, both with updated nickel resources, and the Knaften project which hosts a developing intrusion-hosted gold system, and VMS (zinc-copper) and copper-nickel targets, all of which are open for expansion and further discovery. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.

On behalf of the Board,
Chris Robbins, CFO and Director

For further information contact:

Head Office/Investor Relations
Phone: +1-604-683-0484

Jari Paakki, CEO
Email: [email protected]

Chris Robbins, CFO
Email: [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.

Forward-Looking Information

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: Gungnir’s plans for exploration of its properties; and the use of proceeds from warrant and option exercises.

Forward-looking information is based on a number of key expectations and assumptions made by Gungnir, including, without limitation: the COVID-19 pandemic impact on the Canadian and global economy and Gungnir’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect Gungnir’s business; there will be a demand for Gungnir’s services and products in the future; and Gungnir will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what Gungnir believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: no certainty that any economically viable mineral deposit will be located on Gungnir’s properties; that Gungnir will be able to complete its exploration programs as anticipated; the impacts of the COVID-19 pandemic on the Canadian and global economy, Gungnir’s industry and its business, which may negatively impact, and may continue to negatively impact, Gungnir and may materially adversely affect its investments, results of operations, financial condition and Gungnir’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; circumstances may change resulting in the use of proceeds set out in this news release; general economic conditions; future growth potential; common share prices; liquidity; tax risk; tax laws currently in effect remaining unchanged; ability to access capital markets; environmental matters; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to Gungnir. The forward-looking information is stated as of the date of this news release and Gungnir assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

SOURCE: Gungnir Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/669859/Gungnir-Receives-665000-from-Warrant-and-Option-Exercises





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Today’s News

Freeman Gold Announces Phase 2 Lemhi Resource Expansion and Beauty Zone Drill Program

Freeman Gold Announces Phase 2 Lemhi Resource Expansion and Beauty Zone Drill Program
Canada NewsWire
VANCOUVER, BC, Oct. 27, 2021

Phase 2 – >4,000 m diamond drill program
>3,200 metres testing strike extensions, primarily to the east and we…

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Freeman Gold Announces Phase 2 Lemhi Resource Expansion and Beauty Zone Drill Program

Canada NewsWire

Phase 2 – >4,000 m diamond drill program

  • >3,200 metres testing strike extensions, primarily to the east and west of the current resource
  • 400 metre drill hole to test depth extent of gold mineralization at Lemhi
  • 400 metres of exploration drill holes at the Beauty Zone

CANADIAN SECURITIES EXCHANGE: FMAN

VANCOUVER, BC, Oct. 27, 2021 /CNW/ – Freeman Gold Corp. (CSE: FMAN) (OTCQB: FMANF) (FSE: 3WU) (“Freeman” or the “Company“) is pleased to announce its Phase 2 diamond drill program at the Lemhi Gold Deposit (“Lemhi“) and the new Beauty Zone (“Beauty Zone“). The proposed >4,000 m drill program focuses on adding near surface, oxide ounces to the recently reported maiden Mineral Resource Estimate on July 8, 2021. Drilling will also test the recently delineated Beauty Zone which lies approximately 600 metres west of Lemhi and host to a number of high-grade gold rock samples and coincident gold soil geochemistry.

“We are embarking on a second phase of diamond drilling focusing on ground (patented mining claims) that gives Freeman the highest probability of adding ounces to our resource base. The on-strike east and west extensions at Lemhi are key as these would provide new ounces within our current conceptual pit outline. As well, the Lemhi deposit has never been tested at depth beyond 286 metres where a number of holes were terminated in gold mineralization. Freeman plans to test mineralization at depth with at least one >400 m drill hole. We are also excited about testing the newly identified high grade Beauty Zone which returned 52 rock samples over 1 gram per tonne (“g/t”) gold (“Au“) and 28 over 10 g/t Au with coincident anomalous gold soil geochemistry,” remarked Paul Matysek, Executive Chairman.

Over 90% of the total drilling is anticipated to occur at Lemhi, while the remaining drilling will test the Beauty Zone. Of the 3,600 metres to be drilled at Lemhi, 3,025 metres are focused on resource expansion on strike down to a maximum depth of 300 metres below surface. These holes will follow up on drill holes from previous campaigns that remain open, such as FG20-24C which returned 0.4 g/t Au over 72 metres on section 429825N. One drill hole will test the depth potential at Lemhi down to 400 metres below surface; the hole will also infill in the shallower portions between drill holes FG20-17C (151m @ 2.5 g/t Au) and 35C (189m @ 0.54 g/t Au). A single infill hole is planned on section 429952N where a gap in the mineralization is present.

Figure 1 shows the proposed drilling plan map. Table 1 provides details on a hole-by-hole basis. Sections referred to on the Table can be viewed at www.freemangoldcorp.com.

Table 1.  Fall 2021 Drilling – Lemhi Project

Hole ID

Project

Azimuth

Dip

Proposed
Depth
(m)

Hole Type

Comment

FG21-001

Beauty

0

-90

100

Exploration

Drill test Beauty Zone

FG21-002

Beauty

230

-65

100

Exploration

Drill test Beauty Zone

FG21-003

Beauty

0

-90

200

Exploration

Drill test Beauty Zone

FG21-004

Lemhi

0

-90

400

Resource
Expansion & Infill

Test Mineralization at depth.  Section 430000N. Infill between
FG20-17C (151m @ 2.5 g/t Au)  and 35C (189m @ 0.54 g/t
Au). 

FG21-005

Lemhi

270

-68

250

Resource
Expansion

90m stepout to the West.  Section 429625N

FG21-006

Lemhi

270

-70

250

Resource
Expansion

Step out to the southwest.  Section 429700N.

FG21-007

Lemhi

0

-90

250

Resource
Expansion

Step out to the southwest.  Section 429775N.

FG21-008

Lemhi

0

-90

250

Resource
Expansion

90m step out to the Southwest.  Follow up FG20-24C (72m @
0.4 g/t Au) and 1980’s drilling.  Section 429825N.

FG21-009

Lemhi

0

-90

300

Resource
Expansion

Step out to the East.  Section 429800N

FG21-010

Lemhi

0

-90

300

Resource
Expansion

Step out to the East.  Section 429850N

FG21-011

Lemhi

0

-90

300

Resource
Expansion

90m stepout to the West.  Section 429900N

FG21-012

Lemhi

0

-90

300

Resource
Expansion

40m stepout to the West of 1980’s drilling.  Section 429950N

FG21-013

Lemhi

0

-90

250

Infill

Infill gap in drilling in resource area.  Section 429950N.

FG21-014

Lemhi

0

-90

225

Resource
Expansion

Stepout 40 m to the North-East.  Section 429975N

FG21-015

Lemhi

0

-90

300

Resource
Expansion

90m stepout to the West.  Section 429975N

FG21-016

Lemhi

0

-90

300

Resource
Expansion

85m stepout to the West.  Section 430000N

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. Rock grab samples are by their nature selective and are not necessarily indicative of the general geology or the grade within the Lemhi Gold 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 kilometers of highly prospective land. The project hosts a near surface, shallow, high grade oxide gold resource. The pit constrained National Instrument 43-101 (“NI 43-101“) compliant mineral resource estimate is comprised of 749,800 ounces (“oz”) gold at 1.02 grams per tonne in 22.94 million tonnes (Indicated) and 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes (Inferred). See the NI 43-101 technical report  titled “Maiden Resource Technical Report for the Lemhi Gold Project, Lemhi County, Idaho, USA” with an effective date of June 1, 2021, and signing date of July 30, 2021, as prepared by APEX Geoscience Ltd. and F. Wright Consulting Inc. available under the Company’s profile on SEDAR (www.sedar.com). 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 NI 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/freeman-gold-announces-phase-2-lemhi-resource-expansion-and-beauty-zone-drill-program-301409893.html

SOURCE Freeman Gold Corp.








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Today’s News

Quaterra Resources Awards Contract for the Further Advancement of Its MacArthur Oxide Copper Project in Yerington, Nevada

Vancouver, British Columbia–(Newsfile Corp. – October 27, 2021) – Quaterra Resources Inc. (the "Company") (TSXV: QTA) (OTCQB: QTRRF) is pleased to announce…

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Vancouver, British Columbia–(Newsfile Corp. – October 27, 2021) – Quaterra Resources Inc. (the “Company“) (TSXV: QTA) (OTCQB: QTRRF) is pleased to announce that it has awarded McClelland Laboratories, Inc. (“McClelland“) a key contract to support the advancement of the MacArthur oxide copper project.

McClelland has been appointed to complete the metallurgical testing program of the 12 ton (11 tonne) representative sample collected in the 2021 drilling campaign (see news release dated October 6, 2021, “Quaterra Resources Announces Positive Assay Results at MacArthur Copper Project, Nevada and Potential for Resource Expansion“). McClelland will perform variability testing on fifteen leach columns through Q2 2022 in order to further validate the metallurgical parameters to be utilized in the MacArthur Pre-Feasibility Study (“PFS“).

McClelland, based in Sparks, Nevada, maintains a 44,000 square-foot facility and has been a leader in servicing the mining industry for over 33 years.

Quaterra CEO Travis Naugle states, “We are very pleased to have engaged with a leading Nevada-based contractor to advance a key aspect of the MacArthur PFS so soon after the recently announced oversubscribed private placement. We look forward to continuing with further important steps on the MacArthur oxide copper project.”

About Quaterra Resources Inc.
Quaterra Resources Inc. is a copper-gold development and exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its MacArthur oxide copper project in the historic Yerington Copper District, Nevada. It continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.

On behalf of the Board of Directors,
Stephen Goodman
President

For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057
Email: [email protected]
Website: www.quaterra.com

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Technical information contained in this news release has been reviewed and approved by Travis Naugle, MMSA QP, the Company’s CEO and a director, and a qualified person as defined in National Instrument 43-101.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100981






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