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Rugby Commences Field Work Prior to Drilling the Salvadora Silver-Copper Project, Chile

VANCOUVER, British Columbia, Nov. 08, 2021 (GLOBE NEWSWIRE) — Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V: RUG) reports that field…

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VANCOUVER, British Columbia, Nov. 08, 2021 (GLOBE NEWSWIRE) — Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V: RUG) reports that field work is underway at its Salvadora project in Chile in preparation for Q1-2022 core drilling. The current program includes airborne magnetics, mapping and talus sampling along the non outcrop portions of the 7 km long alteration system.

Salvadora is located 40 km south of Barrick’s El Indio gold mine in the south of the El Indio gold belt that hosts +44 Moz of gold and 875 Moz of silver*. The Salvadora project was brought into Rugby through the acquisition of Proximo Resources (see News Release dated October 27, 2021). The exploration target is a high-grade silver-copper-gold ore deposit. 

Mr. Peter Love, CEO of Rugby commented, “It is exciting to be preparing for drilling at Salvadora as it is a very impressive alteration system.  We are fortunate that winter ended early enabling us to get on the ground sooner than expected. Investors can expect continuing updates on Salvadora as we move towards drilling.  We will also have news on our El Zanjon gold-silver project in Argentina as work is in progress again on that promising project.” 

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Location of the Salvadora Project, Chile

The Salvadora hydrothermal alteration halo is large, suggesting excellent ore potential. During 2020-2021, exploration work comprised road rehabilitation, geological mapping, geochemistry, alteration analysis and remote sensing satellite studies. 218 surface rockchip and continuous channel samples were collected from veins and mineralized exposures within the two main areas of the project. Much of the system is covered by talus (scree) such that artisanal mining on the vein focussed entirely on the limited sites of vein exposure.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Enhanced satellite imagery of the Salvadora project exhibits a prominent 7km alteration zone

Follow-up exploration started in October 2021. Given the extensive talus cover, it is essential to do additional broad-spaced work ahead of drill targeting. To that effect Rugby has engaged New-Sense Geophysics who are currently flying an airborne magnetic/radiometric survey over the entire property. The Company has also prospected and sampled the talus cover between the artisanally mined outcrop areas, with results expected in the coming weeks.

The talus sampling program will be very useful as the exploration team reported visible copper oxide mineralization in talus, well away from artisanal activity. The current program will significantly expand our knowledge of what appears to be a complex system. Drilling is expected to commence early in January 2022.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Sampling of talus material at Salvadora

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

 Recent aerial photo of a portion of altered talus material where sampling/mapping is underway

View Rugby’s most recent Corporate Presentation

Rugby has filed an independent technical report on SEDAR on the Salvadora project (the “Salvadora Report”) prepared by Dr. Gustavo Delendatti (PhD, B.Sc-Geol, MAIG) dated July 5, 2021, in accordance with NI 43-101. The Salvadora Report can be viewed on www.sedar.com

Paul Joyce, Rugby’s Chief Operating Officer and a “qualified person” (“QP”) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has verified the technical information that forms the basis for this news release, however some of the information is historical in nature and the Company will be required to do further assessment of this data. 

References Cited:

*Barrick 2004, Barrick Gold Corporation, Annual Report, 2004; SEDAR.com

*Barrick 2019, Barrick Annual Information Form for the year ended December 31, 2019; SEDAR.com Jannas, R.R., Bowers, T.S., Petersen, U., and Beane, R.E., 1999, High-sulfidation deposit types in the El Indio district, Chile, in Skinner, B.J., ed., Geology and Ore Deposits of the Central Andes: Society of Economic Geologists, Special Publication 7, p. 219–266.

*Porter 2001, El Indio Belt – El Indio, Tambo, Pascua Lama; Porter GeoConsultancy Pty Ltd, 2001; portergeo.com.au

About Rugby Mining

Rugby is an exploration company focussed on conducting “discovery stage” exploration at Salvadora in Chile. The Company is also advancing the El Zanjon gold-silver project in Argentina. In addition, the Company has projects and property applications in Colombia, the Philippines and Australia. These opportunities have considerable potential for gold, silver and copper discoveries but are secondary at this time to Salvadora and El Zanjon. 

The Company benefits from the experience of its directors and management, a team that has either been directly responsible for world-class mineral discoveries or have been part of the management teams responsible for such discoveries. Two successful companies under their management were Exeter Resource Corporation and Extorre Gold Mines Limited, which discovered significant deposits in South America. These companies were purchased by Goldcorp (Newmont) and Yamana Gold respectively. 

For additional information you are invited to visit the Rugby Mining Limited website at www.rugbymining.com

Jon Hermanson, VP Corporate Development
Tel: 604.688.4941 Fax: 604.688.9532
Toll-free: 1.855.688.4941
Suite 810, 789 West Pender St.
Vancouver, BC Canada V6C 1H2
[email protected]

CAUTIONARY STATEMENT

Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the British Columbia, Alberta and Ontario Securities Acts. This includes statements concerning the Company’s proposed exploration plans for the Salvadora project in Chile, progress on obtaining approval for its exploration concession applications in Colombia, the expected timing of drilling and/or geophysics programs, budgeted costs to conduct exploration programs including drilling, high grade potential and potential for mineral discoveries at its projects and the style or occurrence of the mineralization which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company holds certain of its projects, including Salvadora, under option agreements, which require annual cash payments, expenditure and/ or drilling requirements in order to maintain its interest. Should the Company not be able to meet its obligations or renegotiate the agreements it will lose its rights under the option agreement. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the effect on prices of major mineral commodities such as copper and gold by factors beyond the control of the Company; events which cannot be accurately predicted such as political and economic instability, terrorism, environmental factors and changes in government regulations and taxes; the shortage of personnel with the requisite knowledge and skills to design and execute exploration programs; difficulties in arranging contracts for drilling and other exploration services; the Company’s dependency on equity market financings to fund its exploration programs and maintain its mineral exploration properties in good standing; political risk that a government will change, interpret or enforce mineral tenure, environmental regulations, taxes or mineral royalties in a manner that could have an adverse effect on the Company’s assets or financial condition and impair its ability to advance its mineral exploration projects or raise further funds for exploration; risks associated with title to resource properties due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the interpretation of laws regarding ownership or exploration of mineral properties in the Philippines, Argentina, Chile and Colombia and in the sometimes ambiguous conveyancing characteristic of many resource properties, currency risks associated with foreign operations, the timing of obtaining permits to conduct exploration activities, the ability to conclude agreements with local communities and other risks and uncertainties, the ongoing effects of the COVID 19 pandemic and including those described in each of the Company’s management discussion and analysis and those contained in its financial statements for the year ended February 28, 2021 filed with the Canadian Securities Administrators and available at www.sedar.com. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

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







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Lundin Mining Announces TSX Approval for a Normal Course Issuer Bid

Lundin Mining Announces TSX Approval for a Normal Course Issuer Bid
Canada NewsWire
TORONTO, Dec. 6, 2021

TORONTO, Dec. 6, 2021 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) announces th…

Lundin Mining Announces TSX Approval for a Normal Course Issuer Bid

Canada NewsWire

TORONTO, Dec. 6, 2021 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) announces that the Toronto Stock Exchange (the “TSX”) has accepted the notice of Lundin Mining’s intention to renew its normal course issuer bid (the “NCIB”).

The Company intends to continue to utilize the NCIB at its discretion to make opportunistic purchases to create shareholder value and manage the number of outstanding common shares of the Company (the “Common Shares”).

This approval allows the Company to purchase up to 63,762,574 Common Shares, representing 10% of the 735,122,870 issued and outstanding Common Shares as of November 30, 2021, minus those Common Shares beneficially owned, or over which control or direction is exercised by the Company, the senior officers and directors of the Company and every shareholder who owns or exercises control or direction over more than 10% of the outstanding Common Shares, over a period of twelve months commencing on December 9, 2021. The NCIB will expire no later than December 8, 2022.

All purchases made pursuant to the NCIB will be made through the facilities of the TSX or other alternative Canadian trading systems. In accordance with TSX rules, any daily purchases (other than pursuant to a block purchase exemption) on the TSX under the NCIB are limited to a maximum of 565,398 Common Shares, which represents 25% of the average daily trading volume of 2,261,595 Common Shares on the TSX for the six months ended November 30, 2021. The price that Lundin Mining will pay for Common Shares in open market transactions will be the market price at the time of purchase.

In connection with the NCIB renewal, Lundin Mining entered into an automatic repurchase plan with its designated broker to allow for the repurchase of Common Shares at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise (any such period being an “Operating Period”). Before entering an Operating Period, the Company may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the plan. Purchases made pursuant to the plan, if any, will be made by the Company’s designated broker based upon the parameters prescribed by the TSX, applicable Canadian securities laws and the terms of the written agreement entered between the Company and its designated broker. Outside of these Operating Periods, Common Shares will be purchasable by Lundin Mining at its discretion under its NCIB.

The automatic repurchase plan will commence on the effective date of the NCIB and will terminate on the earliest of the date on which: (i) the purchase limit under the NCIB has been reached; (ii) the NCIB expires; and (iii) the Company terminates the automatic repurchase plan in accordance with its terms. The automatic repurchase plan constitutes an “automatic plan” for purposes of applicable Canadian securities legislation and the agreement governing the plan has been pre-cleared by the TSX.

The actual number of Common Shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. Any Common Shares that are purchased under the NCIB will be cancelled.

Under the Company’s current NCIB that commenced on December 9, 2020 and expires on December 8, 2021, the Company previously sought and received approval from the TSX to purchase up to 63,682,170 Common Shares. As of November 30, 2021, the Company has purchased 4,323,100 Common Shares under its current NCIB through open market transactions at a weighted average price of approximately $11.25 per Common Share.

About Lundin Mining

Lundin Mining is a diversified Canadian base metals mining company with operations in Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.

The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on December 6, 2021 at 22:00 Eastern Time.

Cautionary Statement in Forward-Looking Information

Certain of the statements made and information contained herein is “forward-looking information” within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements with respect to Lundin Mining’s proposed normal course issuer bid, the Company’s pre-defined plan with its broker to allow for the repurchase of Common Shares, and the number of Common Shares that may be purchased under the normal course issuer bid. Words such as “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “goal”, “aim”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “can”, “could”, “should”, “schedule” and similar expressions identify forward-looking statements.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management; assumed and future price of copper, nickel, zinc, gold and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; the Common Shares will, from time to time, trade below their value; the Company will complete purchases of Common Shares pursuant to the NCIB; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management’s experience and perception of current conditions and expected developments, these statements 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: the market price of the Common Shares being too high to ensure that purchases benefit the Company and its shareholders; and other risks and uncertainties, including but not limited to those described in the “Risk and Uncertainties” section of the Annual Information Form and the “Managing Risks” section of the Company’s MD&A for the year ended December 31, 2020, which are available on SEDAR at www.sedar.com under the Company’s profile. All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. There can be no assurance that the Common Shares will, from time to time, trade below their value and that the Company will complete purchases of Common Shares pursuant to the NCIB. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

SOURCE Lundin Mining Corporation





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Bessor Announces the Passing of Director Richard T. Kusmirski

VANCOUVER, British Columbia, Dec. 06, 2021 (GLOBE NEWSWIRE) — Bessor Minerals Inc. (TSXV:BST) ("Bessor" or the "Company") is sad to report the recent…

VANCOUVER, British Columbia, Dec. 06, 2021 (GLOBE NEWSWIRE) — Bessor Minerals Inc. (TSXV:BST) (“Bessor” or the “Company“) is sad to report the recent passing of Richard (“Rick”) T. Kusmirski, P.Geo.,M.Sc. Bessor wishes to extend its sincere condolences to Rick’s family, friends, and business associates.

An accomplished and well respected exploration geologist, Rick had served as a Director of the Company since its establishment and his collegiality, technical competence and sage advice will be sorely missed.

BESSOR MINERALS INC.

Kieran Downes, Ph.D., P.Geo.
President, CEO & Director

For further information, contact:
Investor Relations
Email: [email protected]
Website: www.bessorminerals.com

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 news release.




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Corrected: Secova Announces Flow-Through Financing to Raise up to $500,000

  

VANCOUVER, BRITISH COLUMBIA – TheNewswire – December 6, 2021 – Secova Metals Corp. (“Secova” or the “Company”) (CSE:SEK) (CNSX:SEK.CN)…

  

VANCOUVER, BRITISH COLUMBIA – TheNewswire – December 6, 2021 – Secova Metals Corp. (“Secova” or the “Company”) (CSE:SEK) (CNSX:SEK.CN) USA (OTC:SEKZF) is pleased to announce a non-brokered private placement to raise gross proceeds to the Company of up to $500,000 (the “Offering”) by the issuance of up to 2,702,703 flow through common shares  (the “Flow-Through Shares”) at a purchase price of $0.185 per Flow Through Share.

 

The Company will use the proceeds from the sale of the Flow-Through Shares to incur flow-through expenditures which qualify as 100% Canadian Exploration Expense (“CEE”), and will renounce said flow-through expenditures to the investors for the taxation year ending December 31, 2021. For subscribers residing in Quebec, they will be eligible for maximum deductions for Quebec income tax purposes.

All securities issued in connection with the Offering will be subject to a statutory hold period expiring in accordance with applicable securities legislation.  

The Company may pay eligible finders a fee (the “Finder’s Fees”) on the Offering within the amount permitted by the policies of the Canadian Securities Exchange (the “CSE”).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Pour une traduction française de ce communiqué de presse, veuillez visiter notre site Web à www.secova.ca.

About the Company

 

Secova Metals Corp. is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Secova’s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City. The Company is proposing to commence operations by the middle of 2022. The Company’s main exploration focus is its 100% ownership of the Eagle River project, which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec. Secova will use its expertise in early-stage exploration to create shareholder value by attempting to prove out the resource in these assets.

 

For more information on Secova Metals Corp. please contact [email protected], Tel: +1 604-803-5229 or visit the website at www.secova.ca for the French version of this news release, past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.

On Behalf of the Board of Directors, SECOVA METALS CORP.

“Brad Kitchen”

Chairman, CEO, and Director

 

Tel: +1 604-803-5229

Email: [email protected]

This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.

 

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

 

Copyright (c) 2021 TheNewswire – All rights reserved.






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