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White Gold Corp. Closes C$4.1 Million Private Placement

TORONTO, July 29, 2021 (GLOBE NEWSWIRE) — White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company” or “White Gold”)…

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TORONTO, July 29, 2021 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company” or “White Gold”) is pleased to announce it has closed its previously announced brokered private placement consisting of the sale of units (the “Units”), premium flow-through units (the “FT Units”) and common shares issued as “flow-through shares” (the “FT Shares”, and together with the Units and FT Units, the “Offered Securities”), for aggregate gross proceeds of approximately $4.18 million (the “Offering”).

“We are very grateful for the continued support of our major shareholders and the other participants in this financing. Our 2021 field season is now well underway, focused on highly anticipated new targets, recent discoveries, and our existing mineral resources as we seek to further demonstrate the expansiveness of gold mineralization in the White Gold District, and the effectiveness of our exploration methodologies. Further details to be provided in due course,” stated David D’Onofrio, Chief Executive Officer.

The Offering was conducted by Clarus Securities Inc. (“Clarus” or the “Lead Agent”) and a syndicate of agents including Eight Capital and Stifel GMP (together with the Lead Agent the “Agents”), which consisted of the sale of: 1,302,000 Units (including the partial exercise of the Agents’ over-allotment option) at a price of $0.65 per Unit, 2,538,462 FT Units at a price of $0.87 per FT Unit, and 1,507,400 FT Shares at a price of $0.75 per FT Share. Each Unit was comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Common Share at a price of $0.80 for a period of 24 months following the closing date of the Offering. Each FT Unit was comprised of one FT Share and one-half of one Warrant. The Warrants were issued pursuant to a warrant indenture dated July 29, 2021 between the Company and Computershare Trust Company of Canada, as warrant agent. The FT Shares and the FT Shares underlying the FT Units were issued as “flow-through shares” as defined in the subsection 66(15) of the Income Tax Act (Canada).

The gross proceeds from the sale of the FT Units and the FT Shares will be used by the Company to incur exploration expenditures on its properties in the White Gold District of the Yukon Territory (the “Qualifying Expenditures”) prior to December 31, 2022. The Qualifying Expenditures will be renounced to subscribers of FT Units and FT Shares for the fiscal year ended December 31, 2021. The gross proceeds from the sale of the Units will be used for general corporate expenses.

As consideration for the Agents’ services in connection with the Offering, the Agents received a cash commission equal to 6.0% of the gross proceeds from the Offering, excluding gross proceeds from the issuance of Offered Securities on a president’s list (the “President’s List”) for which a commission of 2.0% of such gross proceeds were paid by the Company to Agents. The Company also issued to the Agents non-transferable compensation options (the “Compensation Options”) equal to 6.0% of the number of Offered Securities sold under the Offering excluding the President's List and 2.0% of the number of Offered Securities sold under the Offering to subscribers on the President's List. Each Compensation Option entitles the holder to acquire one Common Share at a price equal to the following: (i) if the security sold is a Unit, $0.65 per Compensation Share; (ii) if the security sold is an FT Unit, $0.87 per Compensation Share; and (iii) if the security sold is an FT Share, $0.75 per Compensation Share, in each case, until the date that is 24 months following the Closing Date.

All securities issued pursuant to the Offering, including any underlying securities, are subject to a four-month and one day hold period in accordance with applicable Canadian securities laws.

Pursuant to existing investor rights agreements between the Company and each of Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“Agnico”) and Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross”), both Agnico and Kinross exercised the right to participate in the Offering in order to maintain their respective interests in the Company.

Participation by Agnico and Kinross, and any other insiders of the Company (collectively, the “Insiders”), in the Offering was considered a “related party transaction” pursuant to Multilateral Instrument 61- 101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insiders’ participation in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report will be filed in connection with the participation of Insiders in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.

About White Gold Corp.

The Company owns a portfolio of 21,111 quartz claims across 31 properties covering over 420,000 hectares representing over 40% of the Yukon’s prolific White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au(1). Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts a historic Inferred gold resource of 230,000 ounces at 1.65 g/t Au(2). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au(3), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu(4). For more information visit www.whitegoldcorp.ca.

(1) See White Gold Corp. technical report titled “Technical Report for the White Gold Project, Dawson Range, Yukon Canada”, dated July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR.

(2) See Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, prepared by Jean Pautler, P.Geo., and Ali Shahkar, P.Eng., available on SEDAR.

(3) See Newmont Corporation press release titled “Newmont Reports 2019 Gold Mineral Reserves of 100 Million Ounces, Largest in Company History”, dated February 13, 2020, available on SEDAR.

(4) See Western Copper and Gold Corporation press release titled “Western Copper and Gold Announces Significant Resource Increase at Casino”, dated July 14, 2020, available on SEDAR.

Qualified Person

Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Offering, the use of proceeds from the Offering, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; 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 and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading "Risks Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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

For Further Information, Please Contact:

Contact Information:

David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca


Today’s News

Wheeler River JV Approves Feasibility Study for Phoenix Deposit

Saskatoon, Saskatchewan – TheNewswire – September 22, 2021 – UEX Corporation (TSX:UEX) (OTC:UEXCF) (“UEX” or the “Company”) is pleased to announce…

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Saskatoon, Saskatchewan - TheNewswire - September 22, 2021 - UEX Corporation (TSX:UEX) (OTC:UEXCF) (“UEX” or the “Company”) is pleased to announce that its 50% owned subsidiary, JCU (Canada) Exploration Company, Limited (“JCU”) and Denison Mines Corp. (“Denison”) have approved the initiation of an independent Feasibility Study (“FS”) for the In-Situ Recovery mining operation proposed for the Phoenix uranium deposit on their Wheeler River Joint Venture (“WRJV”).    The WRJV has also appointed leading global consulting and engineering firm Wood PLC to lead and author the FS in accordance with Canadian Securities National Instrument 43-101.

The Wheeler River Joint Venture is 10% owned by JCU and 90% by Denison, who is the operator of the WRJV.  JCU is 50% owned by UEX and 50% by Denison.

Key objectives of the FS are expected to include an updated estimate of mineral resources, mine design optimization, processing plant optimization, and a Class 3 capital cost estimate.  The project designs in the FS are also expected to incorporate the results of various technical assessments, as well as feedback received from consultation efforts, carried out as part of the ongoing Environmental Assessment.

Further details of the approved feasibility study objectives and the appointment of Wood PLC can be found in Denison’s news release dated September 22, 2021 and filed on Denison’s profile on SEDAR.com

The initiation of the Phoenix Feasibility Study is a milestone moment for the Wheeler River Joint Venture.  The potential of the Phoenix Deposit makes Wheeler River a cornerstone asset and a key driver behind UEX’s acquisition of JCU.  We are excited to see the joint venture move forward with this important step of the evaluation process and we eagerly await the final results of the Study.

--- Roger Lemaitre, UEX’s President and CEO

Qualified Persons

The technical information in this news release has been reviewed and approved by Roger Lemaitre, P.Eng., P.Geo., UEX’s President and CEO, who is considered to be a Qualified Person as defined by National Instrument 43-101.

About UEX

UEX is a Canadian uranium and cobalt exploration and development company involved in an exceptional portfolio of uranium projects. 

UEX’s directly-owned portfolio of projects is located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt which in 2020 accounted for approximately 8.1% of the global primary uranium production.  In addition to advancing its uranium development projects through its ownership interest in JCU,  UEX is currently advancing several other uranium deposits in the Athabasca Basin which include the Paul Bay, Ken Pen and Ōrora deposits at the Christie Lake Project , the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project, the Horseshoe and Raven deposits located on its 100%-owned Horseshoe-Raven Development Project and the West Bear Uranium Deposit located at its 100%-owned West Bear Project.

UEX is also 50:50 co-owner of JCU with Denison.  JCU’s portfolio of projects includes interests in some of Canada’s key future uranium development projects, notably a 30.099% interest in Cameco’s Millennium Uranium Development Project, a 10% interest in Denison Mines Wheeler River Project, and a 33.8123% interest in Orano Canada’s Kiggavik Project, located in the Thelon Basin in Nunavut, as well as minority interests in nine other grassroots uranium projects in the Athabasca Basin.

UEX is also leading the discovery of cobalt in Canada, with three cobalt-nickel exploration projects located in the Athabasca Basin of northern Saskatchewan, including the only primary cobalt deposit in Canada.  The 100% owned West Bear Project hosts the West Bear Cobalt-Nickel Deposit, the newly discovered Michael Lake Co-Ni Zone, and the West Bear Uranium Deposit.  UEX also owns 100% of two early-stage cobalt exploration projects, the Axis Lake and Key West Projects.

FOR FURTHER INFORMATION PLEASE CONTACT

Roger Lemaitre

President & CEO

(306) 979-3849

Forward-Looking Information

This news release contains statements that constitute "forward-looking information" for the purposes of Canadian securities laws. Such statements are based on UEX's current expectations, estimates, forecasts and projections. Such forward-looking information includes statements regarding the West Bear Co-Ni Property, the Christie Lake Property drill program, the Hidden Bay Property, the Shea Creek Property, UEX's drill hole results, uranium, cobalt and nickel prices, outlook for our future operations, plans and timing for exploration activities, and other expectations, intentions and plans that are not historical fact. Such forward-looking information is based on certain factors and assumptions and is subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from UEX's expectations include uncertainties relating to the, interpretation of drill results and geology, assay confirmation, additional drilling results, continuity and grade of deposits, fluctuations in uranium, cobalt and nickel prices and currency exchange rates, changes in environmental and other laws affecting uranium, cobalt and nickel exploration and mining and other risks and uncertainties disclosed in UEX's Annual Information Form and other filings with the applicable Canadian securities commissions on SEDAR. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking information. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

 

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

Aguila American Gold Acquires Lida Copper-Silver Project in Nevada

Vancouver, British Columbia–(Newsfile Corp. – September 22, 2021) – Aguila American Gold Limited (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) ("Aguila"…

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Vancouver, British Columbia--(Newsfile Corp. - September 22, 2021) - Aguila American Gold Limited (TSXV: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) ("Aguila" or the "Company") is pleased to announce it has secured through staking 100% ownership of the Lida copper project, located in Esmeralda County, Nevada. The project was identified during an extensive and ongoing generative program targeting copper deposits within the most mining supportive jurisdictions of North America. Initial surface sampling and mapping has commenced to test this exciting new project.

Aguila is focused on copper and precious metal acquisition, exploration and development within the major mining belts of western North America. The Company continues to target under-explored areas, including the recently acquired Lida and Cora projects where post-mineralization cover masks areas of high geological prospectivity in the vicinity of major mines.

The Lida project lies in south-central Esmeralda County within the richly gold and copper endowed Walker Lane Mineral Belt. The project is secured by 33 granted BLM lode mining claims covering a total of 2.75 sq km, and is easily accessed by two wheel drive vehicles utilizing existing access.

The Walker Lane Mineral Belt is a broad northwest striking fault zone that trends for more than 500km through western Nevada and eastern California. It is famous as a host to numerous large copper, gold and silver deposits and mines including Round Mountain, Comstock Lode, Northumberland, Goldfield, Tonopah, Pumpkin Hollow, New York Canyon and Silicon. Almost all discoveries within the Walker Lane belt have been made in outcrop, providing an exceptional opportunity for new deposits to be discovered under shallow cover.

Key Points

  • The Lida copper project lies within the Walker Lane Mineral Belt of Nevada, one of the richest mining districts in North America for gold, copper and silver.
  • Nevada was ranked as the top mining jurisdiction globally for mining investment in the 2020 Fraser Institute Annual Survey of Mining Companies.
  • Lida was prioritised as a target by Aguila due to the association of widespread surface copper mineralization with a discrete magnetic high. This signature is similar to most major mineralization systems within the Walker Lane belt.
  • Widespread copper oxide mineralization within shale and quartzite of the Campito Formation is reported in historical exploration records. The Campito Formation overlies the Deep Spring Formation and Reed Dolomite which are comprised of prospective limestone, dolomite and quartzite.
  • Recent site visits by Aguila have demonstrated that many of the 100's of prospecting pits across an area of 2km x 2km expose extensive oxide copper within fault structures and quartzite. The area of prospecting pits is constrained to the immediate north, south and east of Lida by shallow cover.
  • The most recent exploration documented at Lida was by Conoco Inc in the 1970s, who identified a large IP anomaly, covering 2km by 500m, underneath the copper mineralised area. Shallow drilling failed to test the target or penetrate the Campito Formation to more prospective carbonate host rocks.
  • The positive association between structurally controlled copper oxide mineralization, propylitic alteration, copper-mineralized breccia pipes, and the regional magnetic high with no modern exploration defines a high-priority copper target. The largely impermeable Campito Formation may overlie a pyrite rich (chargeable), shallow buried porphyry copper-molybdenum system.
  • Aguila will immediately commence field activities with mapping and sampling followed by a detailed magnetic survey.
  • Aguila continues to progress its project generation and acquisition strategy for copper and precious metals in highly prospective mineral belts. The rapidly growing demand for copper due to the accelerating uptake of electric vehicles and the supporting infrastructure, aligned with the growing uncertainty of sustainable ethical supply, makes North American targets a high priority.

"The newly staked Lida project represents another exciting step for Aguila into copper exploration in the Western US," said Mark Saxon, CEO of Aguila American Gold Limited. "Lida caught our eye immediately due to the abundance of surface copper oxide mineralization within a small area of outcrop surrounded by thin post-mineralization cover. The association with a magnetic high in the Walker Lane Mineral Belt is a consistent signature with major porphyry and epithermal systems. Major mining companies exploring north and south highlights the pedigree of the terrane.

The timing could not be better, as secure global copper supplies are tightening and price is rising, coinciding with strong demand growth as a result of a global infrastructure, electrification and renewable energy boom. We look forward to applying modern exploration techniques to this under explored district."

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Figure 1: Location map for the Lida copper project in central western Nevada, USA

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7326/97277_image1.jpg

The Lida copper project lies in Esmeralda County, Nevada, approximately 28km southwest of Goldfield within the highly productive Walker Lane Mineral Belt. Walker Lane is a 500km long continental scale structural zone which is host to numerous world class gold and copper deposits and mining districts including Goldfield1 (4.7 Mt @ 28 g/t Au), Yerrington2 (162 Mt @ 0.54% Cu), Pumpkin Hollow3 (553 Mt @ 0.45% Cu), Comstock (16.3 Moz Au eq.) and Rio Tinto's New York Canyon (142 Mt @ 0.35% Cu).

Aguila's claims cover an area of low to moderate relief and sparse vegetation. The prospect is accessible by two-wheel drive vehicles and can be reached by US Highway 95. Up to several hundred prospecting pits, known locally as "dog holes" have been mapped over an area of 2km by 2km, with many exposing fracture-controlled copper within the quartzite and shales of the Campito Formation or located on gossans associated with intrusive breccia.

Small scale, historical mining activity was undertaken in the 18th and early 19th century focused on the No 1 shaft, which targeted structurally controlled primary copper mineralization comprising chalcopyrite, bornite and chalcocite. A structural zone adjacent to the No 1 shaft was reported to contain copper mineralization across a width of up to 30m.

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Figure 2: Prospect Map showing historical exploration activity (shafts, exploration pits, IP anomaly)

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7326/97277_image2.jpg

The bedrock geology at Lida comprises northeast striking, northwest dipping Lower Cambrian limestones of the Poleta Formation overlying the quartzites/shales of the Campito Formation. Iron rich breccia bodies with a pipe-like geometry have been mapped and appear associated with copper mineralization. Hydrothermal alteration includes widespread propylitic-style with local skarn-hornfels alteration associated with intrusive dikes.

Previous documented exploration was primarily conducted by Conoco during the 1970's, which comprised of sampling, geophysics (induced polarisation) and shallow drilling. Conoco identified a large and strong IP anomaly, approximately 2km in length and 500m wide, which trends north-easterly across the prospect coincident with the widespread structurally controlled copper mineralization, small intrusions and widespread propylitic alteration. Drilling did not penetrate the quartzite. Minor pyrite identified in drilling by Conoco within the quartzite is unlikely to account for the strong IP anomaly and may be associated with a pyrite rich "phyllic" porphyry shell.

Aguila believes the Campito Formation formed a relatively impermeable "cap" though which hydrothermal fluids only vented along structures to form the widespread fracture and vein-controlled mineralization found at surface.

The Lida project was staked to test beneath the widespread propylitic alteration and structurally controlled copper oxide mineralization with coincident IP anomaly for a preserved porphyry copper or copper skarn system. Porphyry copper systems in Nevada consistently exhibit a higher degree of preservation than in neighboring Arizona.

Initial exploration will consist of detailed mapping and sampling in addition to a high-resolution magnetic survey. Results will be shared as they become available.

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Figure 3: Site photographs from Lida Project during reconnaissance visit. Area shows an extensive mining history and regular copper oxide mineralization as per photo "d".

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7326/97277_image3.jpg

The Company has obtained and is continuing to review the historic exploration data. Although the historic exploration data was generated by reputable companies, Aguila cannot verify the data or determine the quality assurance and quality control measures applied in generating the data. Accordingly, the Company cautions that the exploration data reported in this news release may not be reliable. Readers are cautioned that a "qualified person" (as defined by National Instrument 43-101) has not yet completed sufficient work to be able to verify the historical information, and therefore the information should not be relied upon.

  1. Production to 1986, Ruetz J W, 1987 - The Geology of the Goldfield district: in Johnson J L (Ed.), 1987 Bulk Mineable Precious Metal Deposits of the Western United States - Guidebook for Field Trips Geol. Soc. Nevada pp 114-119.
  2. Production to 1982, Harris N B, Einaudi M T 1982 - Skarn deposits in the Yerington District, Nevada: metasomatic skarn evolution near Ludwig: in Econ. Geol. v77 pp 877-898.
  3. Nevada Copper, NI 43-101 Technical Report was filed on SEDAR in April 16, 2019.

Technical Background

The Company has obtained historic exploration data for this press release from the Nevada Bureau of Mines and Geology and other public archives. Although historic exploration data was generated by reputable companies applying practice of the day, Aguila cannot verify the data or determine the quality assurance and quality control measures applied in generating the data. Furthermore, there is no guarantee that the exploration history is fully captured. Additional drilling may have been undertaken, however the Company has not been made aware of or obtained additional data. Accordingly, the Company cautions that the exploration data reported in this news release may not be reliable. Readers are cautioned that a "qualified person" as defined by National Instrument 43-101 has not completed sufficient work to be able to verify the historical information, and therefore the information should not be relied upon.

The qualified person for the Company's projects, Mr. Mark Saxon, the Company's Chief Executive Officer, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has reviewed and verified the contents of this release.

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

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

ON BEHALF OF THE BOARD,

"Mark Saxon"

Mark Saxon
President & CEO

For further information, please contact:

aguila.gold
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
info@aguila.gold

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

Cautionary Note Regarding Forward-Looking Statements

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

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

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Today’s News

Talisker Intercepts 1.98 g/t over 62.05 Metres at Pioneer Extending Mineralization to 600 Metres Along Strike

TORONTO, ON / ACCESSWIRE / September 22, 2021 / Talisker Resources Ltd. (" Talisker " or the " Company ") (TSX:TSK)(OTCQX:TSKFF) is pleased to announce…

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TORONTO, ON / ACCESSWIRE / September 22, 2021 / Talisker Resources Ltd. (" Talisker " or the " Company ") (TSX:TSK)(OTCQX:TSKFF) is pleased to announce results from drill hole SB-2021-069 at its 100% owned flagship Bralorne Gold Project. Hole SB-2021-069 is the second stepout hole located 600 metres to the northwest of previously released hole (SB-2021-025) and 400 metres from released holes SB-2021-26, 40, 48 and 55 targeting newly discovered bulk-tonnage mineralization at Pioneer.

Key Points:

  • Hole SB-2021-069 intersected 1.98 g/t over 62.05m from 399.0 to 461.05m.
  • Additional intercepts up-hole from the main intercept include 62.60 g/t over 0.5m within 5.65 g/t over 8.40m between 158.0 to 166.4m on the 222 Vein.
  • Hole SB-2021-069 is located 400 metres along strike to the northwest from previously released holes SB-2021-026 (1.17 g/t Au over 106.75m), SB-2021-040 (1.02 g/t over 114.15m), SB-2021-048 (1 g/t over 116.25m) and SB-2021-055 (0.68 g/t over 51.50m and 0.87 g/t over 34.55m) which together confirmed a 1.1km vertical panel of mineralization from surface.
  • SB-2021-069 is located 600m along strike to the northwest from previously released hole SB-2021-025 that intercepted 1.36 g/t over 68.9m within 0.8 g/t over 220m.
  • Stepout hole SB-2021-063 drilled 400 metres to the northwest of hole SB-2021-025 is expected to be released to market shortly.
  • Stepout hole SB-2021-072 drilled 800 metres northwest of hole SB-2021-025 is being processed at the lab with results expected shortly.

"We are very pleased with the increasing grade in the results received from hole 69 now confirming 100 gram-metre intercepts over 600 metres along strike", stated Terry Harbort, President and CEO of Talisker, who added, "We are eagerly awaiting results from hole 72 which we believe will confirm this consistent near surface mineralization for a total strike length of 800m."

A total of 58,221m consisting of 101 holes have been drilled this year out of a planned and fully funded 100,000 metre diamond drill program. Since acquiring the asset and commencing drilling in February 2020, Talisker has drilled 80,401m consisting of 137 holes. Five drill rigs are currently active at the Bralorne Gold Project. There are currently 28 holes consisting of 11,579 samples at the assay laboratory and are expected to be received by the Company shortly.

Table 1: Received and Pending Intercepts with Visible Gold Count and Vein Count

Drill Hole

Intrusive Intercept Thickness (m)

Visible Gold Count

Major Veins

Minor Veins Count

Assay Results

Gram-metres

Section Line Closest to Collar

SB-2021-25

77

0

5

138

0.8g/t over 220m

176.00

515,700 E

SB-2021-26

108

3

14

172

1.17g/t over 106.75m

124.90

515,600 E

SB-2021-30

130

3

9

97

0.80g/t over 130.9m

104.72

515,600 E

SB-2021-40

440

12

22

626

1.02g/t over 114.15m

116.43

515,600 E

SB-2021-48

790

8

76

1378

1.0g/t over 116.25m

116.25

515,650 E

SB-2021-55

38

0

4

90

0.68g/t over 51.50

35.02

515,600 E

SB-2021-60

101

0

7

208

Results Pending

 

515,550 E

SB-2021-63

120

4

4

385

Results Pending

 

515,550 E

SB-2021-66

177

0

9

389

Results Pending

 

515,450 E

SB-2021-69

427

8

11

873

1.98g/t over 62.05m

124.10

515,300 E

SB-2021-70

200

1

10

624

Results Pending

 

515,250 E

SB-2021-72

237

3

25

1263

Results Pending

 

515,200 E

SB-2021-75

340

4

22

644

Results Pending

 

515,050 E

SB-2021-76

225

3

16

420

Results Pending

 

515,050 E

SB-2021-78

676

1

48

1178

Results Pending

 

515,250 E

          

SB-2021-069 Hole Description:

  • SB-2021-069 was drilled to a depth of 551.2 metres on an azimuth of 180 at a dip of -50.
  • Intersected granitic intrusive from surface to 453.5m followed by dioritic intrusive before reaching the Cadwallader break at 538.25m.
  • Granitic intrusive hosted 11 major veins including four veins between 0.5 and 2.5 m true width.

Table 2: Bralorne Gold Project - Drill Hole SB-2021-69

Diamond Drill Hole Name

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Zone

Method Reported

SB-2021-069

158

158.65

0.65

0.50

222 Vein

Au-AA26
SB-2021-069

158.65

159.15

0.5

6.37

Au-AA26
SB-2021-069

159.15

160.15

1

0.66

Au-AA26
SB-2021-069

160.15

160.65

0.5

4.21

Au-AA26
SB-2021-069

160.65

161.4

0.75

1.31

Au-AA26
SB-2021-069

161.4

161.9

0.5

1.93

Au-AA26
SB-2021-069

161.9

162.4

0.5

71.90

Au-AA26
SB-2021-069

162.4

163

0.6

4.74

Au-AA26
SB-2021-069

163

163.5

0.5

0.13

Au-AA26
SB-2021-069

163.5

164.2

0.7

0.08

Au-AA26
SB-2021-069

164.2

165.1

0.9

0.14

Au-AA26
SB-2021-069

165.1

165.6

0.5

0.27

Au-AA26
SB-2021-069

165.6

166.4

0.8

0.12

Au-AA26
SB-2021-069

399

399.5

0.5

1.38

Bulk Pioneer

Au-AA26
SB-2021-069

399.5

400.9

1.4

0.01

Au-AA26
SB-2021-069

400.9

402.25

1.35

0.02

Au-AA26
SB-2021-069

402.25

403.55

1.3

0.01

Bulk Pioneer

Au-AA26
SB-2021-069

403.55

404.75

1.2

0.01

Au-AA26
SB-2021-069

404.75

405.85

1.1

0.01

Au-AA26
SB-2021-069

405.85

406.4

0.55

0.03

Au-AA26
SB-2021-069

406.4

407.5

1.1

0.01

Au-AA26
SB-2021-069

407.5

408.9

1.4

0.01

Au-AA26
SB-2021-069

408.9

409.45

0.55

2.70

Au-AA26
SB-2021-069

409.45

410.65

1.2

0.07

Au-AA26
SB-2021-069

410.65

412

1.35

2.49

Au-AA26
SB-2021-069

412

413.4

1.4

0.09

Au-AA26
SB-2021-069

413.4

414.6

1.2

0.08

Au-AA26
SB-2021-069

414.6

415.9

1.3

0.02

Au-AA26
SB-2021-069

415.9

417.35

1.45

0.01

Au-AA26
SB-2021-069

417.35

418.5

1.15

0.01

Au-AA26
SB-2021-069

418.5

419.4

0.9

0.01

Au-AA26
SB-2021-069

419.4

419.95

0.55

0.14

Au-AA26
 
SB-2021-069

419.95

420.45

0.5

127.00

New Vein

Au-AA26
SB-2021-069

420.45

421.4

0.95

0.56

Au-AA26
SB-2021-069

421.4

422

0.6

0.65

Au-AA26
SB-2021-069

422

423.15

1.15

0.20

Au-AA26
SB-2021-069

423.15

423.65

0.5

2.41

Au-AA26
SB-2021-069

423.65

424.6

0.95

0.04

Au-AA26
 
SB-2021-069

424.6

425.9

1.3

0.01

Bulk Pioneer

Au-AA26
SB-2021-069

425.9

427.3

1.4

0.08

Au-AA26
SB-2021-069

427.3

428.6

1.3

0.07

Au-AA26
SB-2021-069

428.6

430.05

1.45

0.11

Au-AA26
SB-2021-069

430.05

431.45

1.4

0.02

Au-AA26
SB-2021-069

431.45

432.15

0.7

0.01

Au-AA26
SB-2021-069

432.15

433.2

1.05

0.18

Au-AA26
 
SB-2021-069

433.2

433.7

0.5

51.20

Main Vein

Au-AA26
SB-2021-069

433.7

434.6

0.9

0.27

Au-AA26
SB-2021-069

434.6

435.6

1

1.03

Au-AA26
SB-2021-069

435.6

437

1.4

7.98

Au-AA26
 
SB-2021-069

437

437.5

0.5

0.44

Bulk Pioneer

Au-AA26
SB-2021-069

437.5

439

1.5

0.02

Au-AA26
SB-2021-069

439

440.45

1.45

0.22

Au-AA26
SB-2021-069

440.45

441.75

1.3

0.13

Au-AA26
SB-2021-069

441.75

443

1.25

0.56

Au-AA26
SB-2021-069

443

444.05

1.05

1.00

Au-AA26
SB-2021-069

444.05

445.4

1.35

0.01

Au-AA26
SB-2021-069

445.4

446.4

1

1.92

Au-AA26
SB-2021-069

446.4

447.55

1.15

2.85

Bulk Pioneer

Au-AA26
SB-2021-069

447.55

448.7

1.15

0.26

Au-AA26
SB-2021-069

448.7

449.7

1

0.06

Au-AA26
SB-2021-069

449.7

450.4

0.7

0.21

Au-AA26
SB-2021-069

450.4

451.9

1.5

0.33

Au-AA26
 
SB-2021-069

451.9

453.3

1.4

0.00

Void

Au-AA26
 
SB-2021-069

453.3

453.9

0.6

1.54

Bulk Pioneer

Au-AA26
SB-2021-069

453.9

455.15

1.25

0.01

Au-AA26
SB-2021-069

455.15

456

0.85

0.01

Au-AA26
SB-2021-069

456

457.45

1.45

0.01

Au-AA26
SB-2021-069

457.45

458.65

1.2

0.01

Au-AA26
SB-2021-069

458.65

459.2

0.55

0.01

Au-AA26
SB-2021-069

459.2

460

0.8

0.03

Au-AA26
SB-2021-069

460

461.05

1.05

2.37

Au-AA26
 
Notes: Diamond drill hole SB-2021-069 has collar orientation of Azimuth 180; Dip -50. True widths are estimated at 40 - 90% of intercept lengths and are based on oriented core measurements where available. Method Reported includes the most up to date information as of the date of this press release.
        

Qualified Person

The technical information contained in this news release relating to the drill results at the Bralorne Gold Project has been approved by Leonardo de Souza (BSc, AusIMM (CP) Membership 224827), Talisker's Vice President, Exploration and Resource Development, who is a "qualified person" within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Talisker Resources Ltd.

Talisker (taliskerresources.com) is a junior resource company involved in the exploration of gold projects in British Columbia, Canada. Talisker's projects include two advanced stage projects, the Bralorne Gold Complex and the Ladner Gold Project, both advanced stage projects with significant exploration potential from historical high-grade producing gold mines, as well as its Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt and several other early-stage Greenfields projects. With its properties comprising 296,983 hectares over 346 claims, three leases and 198 crown grant claims, Talisker is a dominant exploration player in the south-central British Columbia. The Company is well funded to advance its aggressive systematic exploration program at its projects.

For further information, please contact:

Terry Harbort
President & CEO
Terry.harbort@talliskerresources.com
+1 416 361 2808

Related Links

https://taliskerresources.com/

Sample Preparation and QAQC

Drill core at the Bralorne project is drilled in HQ to NQ size ranges (63.5mm and 47.6mm respectively). Drill core samples are minimum 50 cm and maximum 160 cm long along the core axis. Samples are focused on an interval of interest such as a vein or zone of mineralization. Shoulder samples bracket the interval of interest such that a total sampled core length of not less than 3m both above and below the interval of interest must be assigned. Sample QAQC measures of unmarked certified reference materials (CRMs), blanks, and duplicates are inserted into the sample sequence and make up 9% of the samples submitted to the lab for holes reported in this release. Sample preparation and analyses is carried out by ALS Global in North Vancouver, British Columbia, Canada and SGS Canada in Burnaby, British Columbia, Canada. Drill core sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (ALS code PREP-31 / SGS code PRP89). Gold in diamond drill core is analysed by fire assay and atomic absorption spectroscopy (AAS) of a 50g sample (ALS code Au-AA26 / SGS code GO_FAA50V10), while multi-element chemistry is analysed by 4- Acid digestion of a 0.25 g sample split with detection by inductively coupled plasma mass spectrometer (ICP-MS) for 48 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Gold assay technique (ALS code Au-AA26 / SGS code FAA50V10) has an upper detection limit of 100 ppm. Any sample that produces an over-limit gold value via the gold assay technique is sent for gravimetric finish (ALS method Au-GRA22 / SGS method GO_FAG50V) which has an upper detection limit of 1,000 ppm Au. Samples where visible gold was observed are sent directly to screen metallics analysis and all samples that fire assay above 1 ppm Au are re-analysed with method (ALS code Au-SCR24 / SGS code - 6 - GO_FAS50M) which employs a 1kg pulp screened to 100 microns with assay of the entire oversize fraction and duplicate 50g assays on the undersize fraction. Where possible all samples initially sent to screen metallics processing will also be re-run through the fire assay with gravimetric finish provided there is enough material left for further processing.

Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, effective time of the rights provided to New Gold under the Investor Rights Agreement, the completion of New Gold's strategic investment; the completion of the Offering, the use of proceeds, the operations of the Company and the timing which could be affected by the current global COVID-19 pandemic. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While Talisker considers these statements to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves 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 forward-looking information. Such factors include market risks and the demand for securities of the Company, risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this news release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Figure 1: Pioneer zone with drill trace of SB-2021-069, vein intersections and geology.

Figure 2: Plan view map showing drill hole collar and traces within the Pioneer Zone with current strike extend of mineralization.

SOURCE: Talisker Resources Ltd.



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