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FAR Resources Increases Its Land Position In The Province of Manitoba Snow Lake By Acquiring An Option On The Jean Lake Lithium-Gold Property

VANCOUVER, British Columbia, July 06, 2021 (GLOBE NEWSWIRE) — FAR Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) ( (“FAR Resources”…



VANCOUVER, British Columbia, July 06, 2021 (GLOBE NEWSWIRE) — FAR Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) ( (“FAR Resources” or the “Company”) is pleased to announce that it has entered into an option agreement to acquire a 100% interest in the Jean Lake lithium-gold project located in Manitoba. The Company will acquire the claims from Mount Morgan Resources Ltd., a private mineral exploration and development corporation. The 1002 hectare five-claim Jean Lake Gold-Lithium project occurs 570 km north of Winnipeg and 15 km east of the historic mining town of Snow Lake Manitoba in the eastern portion of the Proterozoic Flin-Flon-Snow Lake greenstone belt of the Canadian Shield. The belt hosts world-class gold, base-metal and gold-rich base-metal deposits and developing lithium resources.


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Kibali Delivers Another Stellar Performance and Expects to Grow Its Mineral Reserves Net of Depletion

All amounts expressed in US dollars KINSHASA, Democratic Republic of Congo, Jan. 21, 2022 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD)…

All amounts expressed in US dollars

KINSHASA, Democratic Republic of Congo, Jan. 21, 2022 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – The Kibali gold mine produced a total of 812,152 ounces1, well within guidance for 2021, and expects to increase its mineral reserves net of depletion for the third successive year, maintaining its plus 10-year life as one of Barrick Gold Corporation’s Tier One2 assets.

At a media briefing here, Barrick president and chief executive Mark Bristow noted that this performance, which grew steadily stronger during the year, was achieved with no lost time injuries during the last quarter. Like all Barrick’s mines worldwide, Kibali retained its ISO 45001 safety and ISO 14001 environmental accreditations.

At the same time, Kibali continued to lead the group’s clean energy drive with power sourced from its three continuously upgraded hydropower stations supported by new back-up battery technology.

“Kibali’s performance was supported by reinforced Covid-19 protocols to deal with the fourth wave of the virus. The mine worked closely with the DRC’s health authorities and the provincial government to source vaccines and to date has partially vaccinated 60% of its workforce, with 43% of the workforce fully vaccinated,” Bristow said.

“It also strengthened its local business partnerships to build a sustainable economy in the region. During Q4 it spent $40.6 million with local contractors and suppliers, bringing the total since the start of Kibali to $2.1 billion. To date, Kibali has invested some $3.7 billion in the DRC in the form of taxes, permits, infrastructure, salaries and payments to local partners.”

During the fourth quarter Kibali paid a dividend of $170 million to shareholders of Barrick, AngloGold Ashanti and government parastatal, SOKIMO, bringing the total distribution for the year to $200 million. Bristow said Barrick and the Congolese authorities were working together on a program to release cash for the repayment of offshore loans.

During the quarter Kibali launched the Garamba Alliance, a biodiversity partnership with the US Agency for International Development (USAID) designed to preserve this World Heritage park through anti-poaching actions and other conservation initiatives. This partnership is also designed to secure a sustainable economic future for the local community surrounding the park.

Looking ahead, Bristow said underground drilling at the KCD orebody was defining a new high-grade lode above the base of the shaft infrastructure. This was an exciting discovery which could add an entirely new orebody to the existing KCD series of orebodies.


President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386

COO, Africa and Middle East
Willem Jacobs
+44 779 557 5271

DRC country manager
Cyrille Mutombo
+243 812 532 441

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]


Endnote 1
On a 100% basis.

Endnote 2
A Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve.

Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”, “will”, “maintain”, “potential”, “could”, “guidance”, “opportunities”, “design” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali’s production guidance and performance; opportunities to grow reserves net of depletion and extend Kibali’s mine life; securing Kibali’s status as Tier One mine; the anticipated environmental and operational benefits from Kibali’s investment in its hydropower stations and battery technology; Kibali’s health, safety and environmental protection programs, including its Covid-19 prevention protocols and initiatives to secure Covid-19 vaccines as well as the Garamba Alliance; the results of underground drilling at the KCD orebody and the definition of a new high-grade lode; Barrick’s engagement with Congolese authorities on a program to release cash in the DRC for the repayment of offshore loans; and Barrick’s commitment to the DRC and potential further growth opportunities.

Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company’s expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with projects in the early stages of evaluation, and for which additional engineering and other analysis is required; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick’s targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.


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High-Grade Assay Results at the Parnell-Vulture Trend

HIGHLIGHTS First phase of a 15,000 metre reverse circulation (“RC”) drilling program across shallow oxide mineralization on granted mining leases…


  • First phase of a 15,000 metre reverse circulation (“RC”) drilling program across shallow oxide mineralization on granted mining leases at the Parnell-Vulture Trend was completed prior to the 2021 holiday period, with 83 holes drilled for a total of 5,200 metres
  • PhotonAssay gold results from Parnell have been received, with significant assays including:
    • 7 m at 7.75 g/t gold from 31 m in 21NU0198,
    • 4 m at 10.19 g/t gold from 31 m in 21NU0196,
    • 13 m at 2.51 g/t gold from 21 m in 21NU0156, and
    • 8 m at 3.14 g/t gold from 4 m in 21NU0156
  • Initial results received from Vulture include:
    • 8 m at 10.02 g/t gold from 11 m in 21NU0216
  • Further results from holes drilled prior to the holiday period will be released in coming weeks
  • Drilling on the Parnell – Vulture trend is scheduled to recommence on January 24, 2022

    The above results are not necessarily representative of mineralization throughout the Parnell-Vulture Trend. Refer to Table 1 for drill results for all holes drilled to date at Parnell – Vulture.


VANCOUVER, British Columbia, Jan. 21, 2022 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide a drilling update for the Parnell-Vulture trend in Western Australia. The RC drilling planned at Parnell and Vulture is part of the Nullagine Gold Project (“NGP”) exploration program ramp-up, with forward programs currently being generated at several priority basement targets (figure 1). Parnell – Vulture is located some 45 kms from the Company’s Golden Eagle processing facility (“Golden Eagle Plant”) and is accessed by a robust, reliable haul road and associated infrastructure.
Figure 1: Location map for NGP showing Novo tenure and priority prospects.)

Drilling completed before the holiday period comprised 83 RC holes for 5,200 metres (figure 4), drilled by experienced contractor Stark Drilling using a truck mounted Schramm 450. The initial program at Parnell focussed on every alternate planned drill line, in order to fast track strike coverage. The quick assay turnaround means that best drilling intersections can be followed up immediately whilst the remainder of the program is ongoing.

Parnell – Vulture covers a strike length of approximately 2 kms and contains a series of vein-hosted targets with historical drill intercepts including 9 m at 8.4 g/t gold from 7 m, 12 m at 14.6 g/t gold from 40 m and 7 m at 6.1 g/t gold from 40 m1. These results are not necessarily representative of mineralization throughout the district. Refer to Table 2 for drill results for all holes drilled to date at Parnell – Vulture.

Recent results for Parnell – Vulture, received via the Company’s priority arrangement with Intertek2, show similar width and grade tenor as historical drilling intersections, improving confidence in historical data and potential strike extent.

Most significant results are located around the historic workings at Parnell, including 4 m at 10.19 g/t gold in hole 21NU0196 (figure 2). The main target is a ~ 10m wide E-W to WNW trending shear variably intruded by porphyry. Mineralization dips moderately to steeply to the south (generally 70 degrees). Sandstone and interbedded siltstone-sandstone sequences adjacent to the main shear are extremely bleached in the weathering profile, indicating likely sericite alteration of the original rock. Alteration is up to 50 m wide. Several other dykes are present in the area, mainly sub-parallel to stratigraphy, including a 6 m thick dolerite dyke and a hornblende porphyritic gabbro.

Results show good continuity along strike (figure 3), and on section show numerous small but frequent high-grade shoot like components. Further infill and extensional drilling will be designed to test this area.
(Figure 2, section at Parnell showing 21NU0196 results in relation to the main shear zone)

Importantly a series of significant drill intersections are located approximately 550 m along strike to the north-west including 13 m at 2.51 g/t gold from 21 m in 21NU0156, and 8 m at 3.14 g/t gold from 4 m in 21NU0156 (figure 3). This shows the complexity of the system at Parnell and the scale potential of the system along strike.

In addition, the 6 m at 5.28 g/t gold from 29 m in 21NU0204 is located to the north of Parnell in one of the mapped vein swarms. The vein swarm was identified from rock sampling and anomalous results in historical drilling and was tested with a single line of drilling.

Assays received to date also included the first batch from Vulture, including 8 m at 10.02 g/t gold from 11 m in 21NU0216 drilled adjacent to a historical working and in an area of complex quartz veining. Historical results in this area are sparse, and include a best result of 12 m at 2.76 g/t. These results are not necessarily representative of mineralization throughout Vulture. All other results from Vulture are pending and are anticipated within the next three to four weeks.
(Figure 3: Map of historical and Novo significant intercepts at Parnell and Vulture prospect to date.)
(Figure 4: RC drilling status at Parnell and Vulture.)

Analytic Methodology

Drilling was based on detailed mapping and targeted to be perpendicular to mineralization as much as practical. In some areas, the geology is complex and due to the explorative nature of the work, the true width of mineralization cannot yet be precisely determined.

RC samples from Parnell and Vulture were submitted to Intertek in Perth, Australia. Samples are crushed to -2 mm and RSD split into a single 500-gram jar for PhotonAssay. To test for gold variability and potential coarse gold effect, field duplicates and crushed duplicates were analysed. Standards and blanks are inserted in the sample sequence to test for lab performance.

There were no limitations to the verification process and all relevant data was verified by a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects by reviewing analytical procedures undertaken by the various laboratories. Dr. Quinton Hennigh (P. Geo.) is the qualified person responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is the Non-Executive Co-Chairman and a director of Novo.


Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 13,250 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail [email protected].

On Behalf of the Board of Directors,

Novo Resources Corp.

Michael Spreadborough

Michael Spreadborough

Executive Co-Chairman

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, that forward programs are currently being generated at several priority basement targets at the NGP, that further infill and extensional drilling will be designed to test the Parnell area, and that all other results from Vulture are anticipated within the next two weeks. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the actual time required by Intertek Laboratory to process samples, customary risks of the resource industry and the risk factors identified in Novo’s management’s discussion and analysis for the nine-month period ended September 30, 2021, which is available under Novo’s profile on SEDAR at Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.

Table 1, collar table of all holes drilled to date

21NU0153 MGA94_51 241102.657 7584163.415 388.292 20 -55 RC 54 M46/527
21NU0154 MGA94_51 241089.817 7584125.188 385.508 20 -55 RC 72 M46/527
21NU0155 MGA94_51 241132.708 7584153.606 389.503 20 -55 RC 54 M46/527
21NU0156 MGA94_51 241126.52 7584135.836 387.203 20 -55 RC 54 M46/527
21NU0157 MGA94_51 241119.585 7584113.086 386.179 20 -55 RC 78 M46/527
21NU0158 MGA94_51 241171.268 7584139.014 390.099 20 -55 RC 54 M46/527
21NU0159 MGA94_51 241164.727 7584122.37 387.816 20 -55 RC 54 M46/527
21NU0160 MGA94_51 241155.989 7584099.711 386.639 20 -55 RC 72 M46/527
21NU0161 MGA94_51 241150.265 7584082.431 388.577 20 -55 RC 84 M46/426
21NU0162 MGA94_51 241095.94 7584144.73 390 20 -55 RC 54 M46/527
21NU0163 MGA94_51 241207.643 7584126.922 390.423 20 -55 RC 54 M46/527
21NU0164 MGA94_51 241201.647 7584108.868 387.985 20 -55 RC 60 M46/527
21NU0165 MGA94_51 241192.522 7584082.147 387.827 20 -55 RC 72 M46/527
21NU0166 MGA94_51 241296.684 7584132.045 391.871 20 -55 RC 54 M46/527
21NU0167 MGA94_51 241287.561 7584113.379 389.677 20 -55 RC 54 M46/527
21NU0168 MGA94_51 241281.151 7584095.568 387.696 20 -55 RC 54 M46/527
21NU0169 MGA94_51 241274.333 7584077 388.059 20 -55 RC 54 M46/527
21NU0170 MGA94_51 241267.686 7584058.403 388.542 20 -55 RC 72 M46/426
21NU0171 MGA94_51 241260.893 7584039.838 389.808 20 -55 RC 84 M46/426
21NU0178 MGA94_51 241371.821 7584109.808 389.868 20 -55 RC 54 M46/527
21NU0179 MGA94_51 241364.378 7584089.821 388.733 20 -55 RC 54 M46/527
21NU0180 MGA94_51 241355.952 7584067.665 388.413 20 -55 RC 54 M46/527
21NU0181 MGA94_51 241349.571 7584051.224 388.978 20 -55 RC 54 M46/527
21NU0182 MGA94_51 241342.981 7584033.664 390.309 20 -55 RC 72 M46/426
21NU0183 MGA94_51 241442.282 7584074.733 390.393 20 -55 RC 54 M46/527
21NU0184 MGA94_51 241435.649 7584056.883 390.92 20 -55 RC 54 M46/527
21NU0185 MGA94_51 241428.546 7584037.402 390.719 20 -55 RC 54 M46/527
21NU0186 MGA94_51 241422.145 7584018.315 390.185 20 -55 RC 54 M46/527
21NU0187 MGA94_51 241415.856 7584001.066 391.413 20 -55 RC 72 M46/426
21NU0188 MGA94_51 241409.872 7583981.141 392.928 20 -55 RC 90 M46/426
21NU0189 MGA94_51 241518.391 7584050.74 392.657 20 -55 RC 54 M46/527
21NU0190 MGA94_51 241512.401 7584032.65 393.151 20 -55 RC 54 M46/527
21NU0191 MGA94_51 241505.442 7584013.681 393.377 20 -55 RC 78 M46/527
21NU0192 MGA94_51 241498.661 7583994.874 393.707 20 -55 RC 60 M46/527
21NU0193 MGA94_51 241492.061 7583975.735 393.509 20 -55 RC 72 M46/426
21NU0194 MGA94_51 241487.622 7583962.907 392.934 20 -55 RC 84 M46/426
21NU0195 MGA94_51 241573.298 7583960.428 398.341 20 -55 RC 72 M46/527
21NU0196 MGA94_51 241566.956 7583943.681 396.229 20 -55 RC 84 M46/426
21NU0197 MGA94_51 241590.747 7583950.441 398.514 20 -55 RC 72 M46/527
21NU0198 MGA94_51 241587.36 7583938.799 397.01 20 -55 RC 90 M46/426
21NU0199 MGA94_51 241609.571 7583947.275 397.882 20 -55 RC 72 M46/527
21NU0200 MGA94_51 241603.468 7583931.345 396.59 20 -55 RC 84 M46/426
21NU0201 MGA94_51 241624.481 7583937.163 397.169 20 -55 RC 72 M46/426
21NU0202 MGA94_51 241639.804 7583974.596 397.697 20 -55 RC 54 M46/527
21NU0203 MGA94_51 241689.284 7584055.528 394.643 20 -55 RC 54 M46/527
21NU0204 MGA94_51 241682.225 7584034.409 395.126 20 -55 RC 72 M46/527
21NU0205 MGA94_51 241677.202 7584017.522 394.88 20 -55 RC 84 M46/527
21NU0206 MGA94_51 241797.643 7583972.516 402.059 20 -55 RC 54 M46/527
21NU0207 MGA94_51 241790.682 7583955.216 400.928 20 -55 RC 72 M46/527
21NU0208 MGA94_51 241782.944 7583934.55 401.595 20 -55 RC 54 M46/527
21NU0209 MGA94_51 241776.061 7583914.106 401.157 20 -55 RC 54 M46/527
21NU0210 MGA94_51 241826.679 7583961.085 402.982 20 -55 RC 54 M46/527
21NU0211 MGA94_51 241816.073 7583948.444 402.522 20 -55 RC 72 M46/527
21NU0212 MGA94_51 241810.585 7583920.195 403.255 20 -55 RC 54 M46/527
21NU0213 MGA94_51 241805.417 7583906.187 402.44 20 -55 RC 54 M46/527
21NU0214 MGA94_51 241799.288 7583886.997 403.562 20 -55 RC 72 M46/527
21NU0215 MGA94_51 240690.046 7584259.466 385.551 210 -50 RC 54 M46/426
21NU0216 MGA94_51 240699.858 7584275.457 386.273 210 -50 RC 54 M46/426
21NU0217 MGA94_51 240710.979 7584293.934 387.288 210 -50 RC 54 M46/426
21NU0218 MGA94_51 240721.038 7584311.98 386.623 210 -50 RC 54 M46/426
21NU0219 MGA94_51 240731.366 7584329.776 387.062 210 -50 RC 84 M46/426
21NU0220 MGA94_51 240740.661 7584346.642 387.108 210 -50 RC 54 M46/426
21NU0221 MGA94_51 240665.899 7584296.424 385.045 210 -50 RC 54 M46/426
21NU0222 MGA94_51 240675.809 7584313.227 386.039 210 -50 RC 54 M46/426
21NU0223 MGA94_51 240685.546 7584329.684 385.822 210 -50 RC 54 M46/426
21NU0224 MGA94_51 240696.655 7584349.284 385.907 210 -50 RC 54 M46/426
21NU0225 MGA94_51 240706.331 7584365.897 386.074 210 -50 RC 54 M46/426
21NU0226 MGA94_51 240716.124 7584382.575 386.974 210 -50 RC 84 M46/426
21NU0227 MGA94_51 240724.983 7584398.074 387.66 210 -50 RC 54 M46/426
21NU0228 MGA94_51 240673.321 7584390.563 386.935 210 -50 RC 54 M46/426
21NU0229 MGA94_51 240681.247 7584404.148 387.378 210 -50 RC 54 M46/426
21NU0230 MGA94_51 240690.323 7584420.965 388.316 210 -50 RC 54 M46/426
21NU0231 MGA94_51 240701.86 7584440.337 389.138 210 -50 RC 84 M46/426
21NU0232 MGA94_51 240646.8 7584424.125 387.49 210 -50 RC 54 M46/426
21NU0233 MGA94_51 240656.929 7584440.846 391.511 210 -50 RC 54 M46/426
21NU0234 MGA94_51 240668.378 7584458.307 390.53 210 -50 RC 54 M46/426
21NU0235 MGA94_51 240678.186 7584475.581 390.304 210 -50 RC 84 M46/426
21NU0236 MGA94_51 240602.903 7584426.905 387.291 210 -50 RC 54 M46/426
21NU0237 MGA94_51 240612.729 7584444.263 387.578 210 -50 RC 54 M46/426
21NU0238 MGA94_51 240623.145 7584461.986 387.704 210 -50 RC 54 M46/426
21NU0239 MGA94_51 240633.731 7584480.114 387.677 210 -50 RC 54 M46/426
21NU0240 MGA94_51 240641.921 7584494.857 387.603 210 -50 RC 54 M46/426

Table 2, Significant intercept table for all results from this phase of drilling with a gram * metre intersection greater than 1. The table is generated using a 0.5 g/t gold cut off and no more than two metre internal waste.

21NU0216 11 19 10.02 8 80.16
21NU0198 31 38 7.75 7 54.25
21NU0196 31 35 10.19 4 40.76
21NU0156 21 34 2.5 13 32.5
21NU0204 29 35 5.28 6 31.68
21NU0156 4 12 3.14 8 25.12
21NU0161 71 73 9.93 2 19.86
21NU0207 0 7 2.67 7 18.69
21NU0169 27 29 8.59 2 17.18
21NU0165 2 9 2.38 7 16.66
21NU0154 49 51 8.1 2 16.2
21NU0208 28 32 3.94 4 15.76
21NU0162 14 17 4.24 3 12.72
21NU0199 18 31 0.94 13 12.22
21NU0170 30 36 1.81 6 10.86
21NU0195 21 29 1.22 8 9.76
21NU0200 34 36 4.86 2 9.72
21NU0197 25 38 0.67 13 8.71
21NU0157 68 70 4.13 2 8.26
21NU0196 40 50 0.72 10 7.2
21NU0216 26 28 3.43 2 6.86
21NU0187 59 61 3.31 2 6.62
21NU0205 34 37 2.16 3 6.48
21NU0159 28 36 0.73 8 5.84
21NU0153 24 30 0.95 6 5.7
21NU0156 43 46 1.63 3 4.89
21NU0154 59 65 0.67 6 4.02
21NU0205 2 4 1.88 2 3.76
21NU0192 33 36 1.22 3 3.66
21NU0160 18 20 1.77 2 3.54
21NU0180 9 14 0.67 5 3.35
21NU0190 10 12 1.62 2 3.24
21NU0207 17 19 1.53 2 3.06
21NU0153 1 3 1.42 2 2.84
21NU0166 35 37 1 2 2
21NU0169 12 15 0.66 3 1.98
21NU0202 6 8 0.93 2 1.86
21NU0164 51 53 0.92 2 1.84
21NU0198 48 50 0.82 2 1.64
21NU0203 10 12 0.82 2 1.64
21NU0188 58 60 0.77 2 1.54
21NU0184 1 3 0.76 2 1.52
21NU0160 27 29 0.75 2 1.5
21NU0201 24 26 0.75 2 1.5
21NU0171 80 82 0.73 2 1.46
21NU0198 82 84 0.7 2 1.4
21NU0196 81 83 0.6 2 1.2
21NU0157 50 52 0.55 2 1.1
21NU0169 1 3 0.53 2 1.06
21NU0207 38 40 0.5 2 1

1 Refer to the Company’s news release dated November 19, 2021.
2 Refer to the Company’s news release dated May 18, 2021.

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Core Assets Closes Oversubscribed Private Placement of $1,597,860 Led By Crescat



VANCOUVER, BC / ACCESSWIRE / January 21, 2022 / Core Assets Corp., (“Core Assets” or the “Company“) (CSE:CC)(FRA:5RJ)(WKN:A2QCCU)(ISIN:CA 21871U 10 5)(OTCQB:CCOOF) is pleased to announce that it has completed its previously announced non-brokered private placement (the “Offering“), as described in its News Release of December 29, 2021, pursuant to which it issued an aggregate of 6,657,752 units (each, a “Unit“) at a price of $0.24 per Unit for gross proceeds of $1,597,860.48.

Each Unit is comprised of one common share (each, a “Share“) in the capital of the Company and one transferable Share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder thereof to purchase one additional Share (each, a “Warrant Share“) for a period of two years from the closing date (the “Closing Date“) at an exercise price of $0.39 per Warrant Share.

In connection with the Offering, Crescat Portfolio Management LLC (“Crescat“) and certain accounts managed by Crescat Portfolio Management LLC collectively made an strategic investment in the Company of approximately $1,275,000 (the “Crescat Investment“). Contemporaneous to and as consideration for the Crescat Investment, the Company granted Crescat a right to participate in future financings of the Company (the “Participation Right“) so as to allow Crescat to maintain its current equity stake. The Participation Right terminates on the earlier of: (i) the date that is 5 years from the date of grant of the Participation Right, and (ii) the date on which Crescat’s ownership of Shares falls below 5% of the then outstanding Shares on a non-diluted basis.

All securities issued in connection with the Offering are subject to a four month hold as required under applicable securities laws as well as an 18 month voluntary hold from the Closing Date split up into 3 releases of one third (1/3) of the securities issued in connection with the Offering every six months from the Closing Date.

The proceeds of the Offering are anticipated to be used for further exploration programs at the Company’s Blue Property and for general working capital purposes. Insiders of the Company may participate in the Offering. Cash finder’s fees of $4,100.64 were paid to eligible finders in connection with the Offering.

Andrew Carne and Sean Charland, directors of the Company, and Jody Bellefleur the Chief Financial Officer of the Company, were issued 20,800 Units, 85,000 Units and 25,000 Units respectively under the Offering. Accordingly, each of Messrs. Carne’s and Charland’s and Ms. Bellefleur’s subscriptions constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The issuance to the insiders was exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related parties did not exceed 25% of the Company’s market capitalization.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Core Assets Corp.

Core Assets is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The Company currently holds 100% title ownership in the Blue Property, which covers a land area of ~108,337 Ha (~1,083 km²). The project lies within the Atlin Mining District, a well-known gold mining camp locate in the unceded territory of the Taku River Tlingit First Nation. The Blue Property hosts a structural feature known as The Llewellyn Fault Zone (“LFZ“). This structure is approximately 140 km in length and runs from the Tally-Ho Shear Zone in the Yukon, south through the property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980’s. The LFZ plays an important role in mineralization of near surface metal occurrences across the property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in BC’s Golden Triangle. The Company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a discovery. Core Assets is excited to become one of the Atlin Mining District’s premier explorers, where its team believes there are substantial opportunities for new discoveries and development in the area.

On Behalf of the Board of Directors
Nicholas Rodway
President & CEO
Tel: 604.681.1568


Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include, but are not limited to, the anticipated use of proceeds from the Offering, and any statements regarding the Company’s business, properties and future exploration goals; that the LFZ structural feature on the Blue Property plays an important role in mineralization of near surface metal occurrences across the property; and that the Blue Property has substantial opportunities for a discovery and development. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that: the Company may use the proceeds from the Offering differently than as disclosed herein; further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company’s operations, markets, products and prices; the Company’s specific plans and drilling timing, field work and other plans may change; the Company may not have access to, or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and the Company may also not raise sufficient funds to carry out its plans. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at Except as required by law, we will not update these forward-looking statement risk factors.

The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

SOURCE: Core Assets Corp.

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