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Ranchero Gold Provides Update on Santa Daniela Drill Program

Current drill program focused on expansion of known gold mineralization at Maíz Azul and initial testing of two highly prospective targets.Diamond core…



  • Current drill program focused on expansion of known gold mineralization at Maíz Azul and initial testing of two highly prospective targets.
  • Diamond core drilling commenced on October 27, 2021.
  • To date 360 meters have been completed in two drill holes.
  • A 13 hole, 3000-meter program Phase 1 drill program planned.

VANCOUVER, British Columbia, Nov. 03, 2021 (GLOBE NEWSWIRE) — Ranchero Gold Corp. (formerly, Melior Resources Inc.) (TSXV:RNCH) (the “Company”) is pleased to provide an update of its current drill program at its 100%-owned Santa Daniela project located in Sonora, Mexico. The Santa Daniela project consists of a large 22,000-hectare concession that located in the heart of the Sierra Madre Occidental (SMO) gold belt situated in close proximity to a number of currently operating gold mines.

Diamond drilling is underway. The drill rig arrived on site on October 25 and commenced drilling on October 27. To date, 360 meters of diamond core drilling has been completed in two drill holes.

The Sierra Madre Occidental Gold Belt

Over the last 20 years, a significant new gold belt has emerged in the SMO. While there has historically been small-scale gold production, it is only in the past 15 years that large-scale mining has begun. The region is dominated by Alamos Gold’s Mulatos mining complex and Agnico Eagle’s La India and Pinos Altos mining complexes. These three mines produced approximately 390,000 ounces gold and 2.3 million ounces of silver in 2020. Combined proven and probable gold reserves are 2.5 million ounces. (Source: Alamos Gold and Agnico Eagle Websites) The Santa Daniela concessions are directly adjacent to the Mulatos mine complex (Figure 1).

The SMO is a regionally extensive Tertiary volcanic field, comprised of two distinct volcanic sequences, an older andesitic and dacitic series, and a younger, pyroclastic dominated rhyolitic series. The Upper Series overlies the Lower Series with erosional disconformity and comprises a sequence dominated by stratified volcanic ash beds. Most significant metal occurrences, including Ranchero’s prospects in the SMO, are hosted by rocks of the Lower Series.

A photo accompanying this announcement is available at

The Maíz Azul Prospect

The most advanced project in the Santa Daniela concessions is the Maíz Azul prospect. It lies approximately 3.5 km southeast of Alamos Gold’s San Carlos and El Victor deposits – part of the Mulatos gold complex. It is contained within the Lower Series volcanic rocks which also host gold mineralization at Mulatos. Historic drilling encountered gold mineralization in multiple drill holes including 37.0 meters averaging 1.56 g Au/t (DDH MA-18-03).

Field work conducted by Ranchero in 2020 consisted of mapping, geochemical sampling and alteration studies. As a result, Ranchero geologists have identified three primary targets for drill testing known as La Colmena, La Cascada and X-Structure. These targets have been defined by three principal factors: (i) structural trends (veins/veinlets, faults); (ii) geochemical sampling and (iii) alteration mapping. These factors appear to define a classic low-sulfidation, epithermal, precious-metal system.

The primary structural trend is west-northwest and the three targets, parallel to each other, follow this orientation (Figure 2). A secondary northeast trend is also prominent and may have an important control on mineralization.

Geochemical sampling has encountered numerous samples containing gold at surface (particularly the La Colmena and La Cascada targets).  Independent samples of outcrop exposures of the La Colmena zone returned values between 0.22 to 6.27 g Au/t.

Alteration mapping (Figure 3) with the aid of spectral analysis shows concentric halos typical of a low-sulphidation gold deposit. This is characterized by an inner core of silica/clay surrounded by a halo of propylitic alteration (chlorite-epidote-calcite). Outlying this alteration are remnants of argillic alteration characterized by the presence of illite/smectite clays and destruction of rock textures.

The current drill program is planned to test the three targets. Thirteen diamond drill holes will be completed as shown in Figure 2. The program is designed first, to confirm and expand upon the historical drilling at La Colmena. The program will also provide an initial test of the La Cascada zone which has the largest surface expression of the three targets. Finally, one drill hole will provide an initial test of the X Structure.

The Maíz Azul prospect covers just a small portion of the Company’s 22,000-hectare concession block. Reconnaissance efforts have yielded additional targets for further field investigations.

Corporate Update

Ranchero announces that it has engaged the Independent Trading Group (“ITG”) to provide market-making services. ITG is a member of IIROC, CIPF, the Toronto Stock Exchange and Canadian Securities Exchange, and is based out of Toronto, Ontario.

Ranchero entered a market making services agreement with ITG pursuant to which Ranchero engaged ITG to provide market-making services with the objective of maintaining a reasonable market and improving the liquidity of Ranchero’s common shares. Ranchero retained ITG for an initial term of three months, with automatic renewal of one-month terms thereafter until terminated by either party with 30 days’ notice. In consideration for the services, Ranchero will pay ITG C$10,000 per month, plus applicable taxes, during the term of the agreement. ITG will not receive any securities of Ranchero as compensation.

ITG is an arm’s length party to Ranchero. ITG does not currently have any interest in Ranchero or the securities of Ranchero, but ITG may acquire securities of Ranchero in connection with the market-making services. The funds to be used for the market-making services will be provided by

Photos accompanying this announcement are available at

ITG in accordance with the policies of the TSX Venture Exchange (“TSXV”) and applicable securities laws. The engagement of ITG is subject to the approval of the TSXV.

Qualified Person

Scientific and technical information in this news release has been reviewed and approved by William Pincus, CPG, who is a “qualified person” as defined by NI 43-101.

About Ranchero Gold

Ranchero Gold is a gold exploration and development company currently focused on its 100%-owned Santa Daniela project located in Sonora, Mexico. The Santa Daniela project consist of a large land package of 22,000 hectares within Mexico’s Sierra Madre Occidental – a newly emerging gold-belt. Maíz Azul is the Company’s most advanced prospect. Drilling is currently on-going.

On behalf of the board of directors of the Company:

William Pincus
President, Chief Executive Officer and Director

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

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results “ may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements contained in this news release include, but are not limited to, the final acceptance of the TSXV to the Transaction.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. These risks and uncertainties include but are not limited to: risks related to regulatory approval, including the approval of the TSXV. There can be no assurance that forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipate in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

For further information, please contact:
William Pincus
President, Chief Executive Officer and Director
+1 303 589 3734

drill program
drill hole

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Today’s News

Falcon Receives Final TSX.V Approval on Viernes Adjacent to Yamana’s El-Peñón Gold/Silver Deposit, Antofagasta City, Chile

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / FALCON GOLD CORP. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report it has…

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / FALCON GOLD CORP. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); (“Falcon” or the “Company”) is pleased to report it has received final TSX Venture approval to move ahead on the option to purchase the Viernes project located 122km SE of Antofagasta City in Northern Chile. The claims encompass 13 claim blocks covering 3,300 Ha. The western portion of the project offers prospectivity for epithermal gold veins as evidenced by outcrops of the Chile-Alemania Paleocene volcano-stratigraphic sequence, which is the same host rock at the El-Peñón Gold Deposit owned by Yamana Gold. Additionally, Barrick Gold in 2015 sold a 50% stake in Zaldívar Mine for a $1.005 Billion in cash forming a partnership with Antofagasta PLC one of the worlds leading copper companies. Antofagasta has an outstanding track record of building and operating mines in Chile, the Zaldívar project is approximately 35kms NE of our claims.

The Viernes project is located at moderate elevation of approximately 2000 meters above sea-level and is 5km east of Yamana Gold‘s highly profitable El-Peñón low sulfidation gold and silver mine, and 35kms southeast of the world class Escondida-Zaldívar copper hub. The project has year-round access via paved and gravel roads from the mining capital of Chile, known as Region II, Antofagasta.

The Viernes claim block presents Falcon a tremendous opportunity to explore for potential bonanza-grade with epithermal low to intermediate sulfidation gold-silver, and porphyry copper-moly mineralization in one of south Americas greatest mineral endowed Paleocene-Eocene belts. The project is located within a world class cluster with extensive development by Yamana, BHP-Rio Tinto, Antofagasta Minerals amongst others. The property is highly prospective and is adjacent to the epithermal vein-hosted Gold-Silver producing El-Peñón mine in which Viernes may host similar geochemical and structural features. Yamana’s latest 43-101 complaint resources and reserves estimates published in March 2021 states total proven and probable mineral reserves of 921,000 ounces of gold and 29.2 million ounces of silver.

Since the 1990’s this area has produced 30.6 million tons of copper – 57 times the annual Canadian production, 9.2 million Ounces of Gold – 1.5 Times the Canadian production, 129.3 million ounces of Silver – 8.6 times the Canadian annual silver production and has generated multiple discoveries.

The Definitive Agreement

On October 20, 2021, the Company announced it had signed an MOU to acquire the Viernes project, this allowed the Company enough time to complete the necessary due diligence to move forward on the acquisition. The Company has agreed to make share payments over a 4-year period totaling 500,000 shares and issue 500,000 share purchase warrants. Each warrant will entitle the vendor to purchase one Falcon common share for a period of 24 months for a purchase price set on each date of issuance at 125% of the closing with a weighted average -with a minimum 10 cent price. During the 4-year option period Falcon is to make minimum expenditures on the property amounting to US $250,000.

Upon completion of share payments and expenditures Falcon will hold an 80% interest and the vendors will retain 20% ownership in the property. Following which for a period of 30 months, Falcon will have the exclusive right to purchase the Vendors 20% ownership in the property (Falcon’s total Ownership of 100% in the property) for a further payment of US. 1.5 million which includes a 1% NSR buy back with the Vendors retaining a 1%.

Qualified Person

Dr. Daniel Rubiolo, P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.

The QP has not completed sufficient work to verify the historical information on the Viernes property, particularly regarding historical exploration, neighbouring companies, and government geological work. The news indicates the exploration potential of the property but may not be representative of expected results.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon’s flagship project, the Central Canada Gold Mine, is approximately 20 km southeast of Agnico Eagle’s Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone (“QFZ”) and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Benton-Sokoman’s JV, and Marvel Discovery in Central Newfoundland.


Falcon Gold Corp.
“Karim Rayani”
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: [email protected]

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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.

SOURCE: Falcon Gold Corp.

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Award of Stock Options

TORONTO, ON / ACCESSWIRE / January 20, 2022 / AEX Gold Inc. (AIM:AEXG)(TSXV:AEX), an independent gold company with a portfolio of exploration licences…

TORONTO, ON / ACCESSWIRE / January 20, 2022 / AEX Gold Inc. (AIM:AEXG)(TSXV:AEX), an independent gold company with a portfolio of exploration licences in Greenland, announces that it has granted incentive stock option awards (“Options”) to employees and a consultant of AEX to acquire an aggregate of 4,100,000 common shares under the Company’s Stock Option Plan at $0.60 per share with an expiry date of January 17, 2027. Of these, 1,100,000 were awarded to Eldur Olafsson and 900,000 were awarded to Jaco Crouse.


1. Details of the person discharging managerial responsibilities/person closely associated
a) Name:

(i)Eldur Olafsson

(ii)Jaco Crouse

2. Reason for the notification
a) Position/status:

(i)Chief Executive Officer and Director

(ii)Chief Financial Officer and Director

b) Initial notification/Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name AEX Gold Inc
b) LEI: 213800Q21S5JQ6WKCE70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

Description of the financial instrument, type of instrument:

Identification code:

Common shares of no par value in AEX Gold Inc.

ISIN: CA00108V1022

b) Nature of the transaction: Grant of Options
c) Price(s) and volume(s):





(ii) 900,000

d) Aggregated information: 2,000,000
e) Date of the transaction(s): 17 January 2022
f) Place of the transaction XOFF


AEX Gold Inc.

Eldur Olafsson, Director and CEO
+354 665 2003
[email protected]

Eddie Wyvill, Investor Relations
+44 (0) 7713 126727
[email protected]

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart
Simon Mensley
Ashton Clanfield
+44 (0) 20 7710 7600

Panmure Gordon (UK) Limited (Joint Broker)

John Prior
Hugh Rich
Dougie Mcleod
+44 (0) 20 7886 2500

Camarco (Financial PR)

Billy Clegg
Emily Hall
+44 (0) 20 3757 4980

For Company updates:

Follow @AexGold on Twitter

Follow AEX Gold Inc. on LinkedIn

Further Information:

About AEX

AEX’s principal business objectives are the identification, acquisition, exploration and development of gold properties in Greenland. The Corporation’s principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. The Corporation has a portfolio of gold assets covering 4,090km2, the largest portfolio of gold assets in Southern Greenland covering the two known gold belts in the region. AEX is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation’s current expectations regarding future events and the future growth of the Corporation’s business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under “Risk Factors” in the Final Prospectus available under the Corporation’s profile on SEDAR at Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Corporation assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. 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.

Inside Information

This announcement does not contain inside information


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Author: AEX Gold Inc.

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Blue Lagoon Announces Results Of 2021 Soils Sampling Program – Identifies New Zones For Priority Follow Up In 2022

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce the…

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Blue Lagoon Resources Inc. (the “Company“) (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce the results from its 2021 soil sampling program completed on its Dome Mountain Gold Project – an all-year-round accessible property located a short 50-minute drive from Smithers, BC.

The Company’s 2021 soil sampling program has resulted in identification of strong anomalous gold, zinc, and copper-in-soils zones in a number of new zones which warrant follow-up during the Company’s 2022 exploration program.

“The soil sampling program was remarkably successful in that we identified multiple gold-in-soils anomalies as well as strong multi-element associations with the gold. The more anomalous elements (Zn, Cu, As, Mo, Pb etc.) that we see associated with gold, the higher degree of confidence we have of an underlying mineralized system thus, allowing us to immediately prioritize our follow-up program.”, said Bill Cronk, Chief Geologist for Blue Lagoon Resources. “A highly anomalous zinc zone to the northwest of Freegold is especially of interest as values here are very high and dwarf the zinc values seen in soils associated with the known Boulder Vein system where gold in the current resource has a very close correlation with elevated zinc values in core.”

A total of 4216 soils have been collected on the Dome Mountain property since 2020, of which 3167 samples were collected in 2021 (Figure 1).

Anomalous pathfinder elements associated with gold-in-soil anomalies at Freegold (including antimony, copper, molybdenum, zinc, lead, mercury, bismuth, uranium and silver) were drilled in the first part of the 2021 Phase 2 program and high-grade gold was intersected as expected (see press release December 7, 2021). Additional drilling at Freegold is currently on hold awaiting completion of ground based Deep IP and CSAMT, expected to be completed by the middle of February 2022.

Anomalous pathfinder elements associated with the high gold values at Boulder Vein include antimony, zinc, lead, and silver. Noranda first drilled the Boulder Vein system at Dome Mountain in 1985 based on zinc-in-soil anomalies. After more than 40,000 meters of core drilling on the Boulder Vein, Zinc is considered the premier pathfinder element at Dome Mountain.

Figure 1 Map showing soil samples collected on the Dome Mountain Project showing samples collected in 2020 (black) and samples collected in 2021 (Yellow).

Figure 2 shows multi-element results for soils collected northwest of the Freegold Showing and along a strong northwest trending mag anomaly. Soil lines are spaced at 400 meters apart and samples collected along the line at 25 or 50 meters spacing. The zinc anomaly is the largest on the property to date with gold and contains anomalous pathfinder elements including copper, molybdenum, arsenic and antimony. Once snow free conditions are met in 2022, this target will be followed up with infill soils and prospecting to advance to the drill target stage.

Figure 2 Map highlighting anomalous zones to the northwest of Freegold. Highest zinc values in soils on the property up to 5610 ppm. 15ppb Au and greater is in the 95th percentile of anomalous values.

Figure 3 shows soils results to the southwest part of the project area. Strong gold in soils have been found and anomalous pathfinder elements associated with the targets (molybdenum, copper, arsenic and antimony) highlight areas for further work to develop near term drill targets.

Figure 3

The planned 2022 soil sampling program will build on the Company’s previous programs and will continue in early summer with a minimum of 2500 samples expected to be collected as the follow-up to the 2020-2021 program and as a first pass exploration on portions of the land package which has yet to be explored.


The Company submitted 3167 soil samples for analysis which were collected on the Dome Mountain Gold Project in late 2021. 329 of these samples were QAQC samples inserted into the sample stream to maintain a 10% QAQC program consisting of standards, blanks and field duplicates. Sample lines selected for the survey were based on known locations of underlying gold mineralization and/or based on structural interpretations based on the 2020 airborne survey.


Soil samples were collected using two-man teams equipped with Geotool and shovel. Samples were collected from the B-horizon at a depth ranging from 10 cm to 90 cm. Average depth of sample collected was 32 cm. Sample spacing along the lines varied from 25 meters to 50 meters depending upon location and target with line spacing varying from 200 meters to 400 meters.

Sample data collected at the sample locations included UTM location, depth of sample, color, moisture content, texture (sand, silt, clay), and percentage, angularity and lithology of pebbles and or cobbles. Samples collected amounted to approximately 1 kilogram of material and placed in a white soil sample bag. Wet samples were additionally placed into a 1000 ml plastic zip loc bags to prevent contamination. At the end of the day all samples were placed inside the Company’s shop facility on a rack and allowed to dry for at least one week before shipping to ALS in North Vancouver, BC. Samples remained in secure storage until shipped to Vancouver.

Sample preparation at ALS utilized Prep 41 method (dry and sieve to -80 mesh) and followed up analysis for gold by method Au-AA24 (by fire assay) and 48-elements by method ME-MS61, (four acid digestion with ICP-MS finish).

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.

Forfurther information, pleasecontact:

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, 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 or future exploitation of minerals deposits, volatility of gold and silver 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.

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