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Mawson Base of till Drilling and Artificial Intelligence Driving Exploration Targeting in Finland

VANCOUVER, BC / ACCESSWIRE / November 22, 2021 / Mawson Gold Limited ("Mawson") or (the "Company") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) announces the…

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VANCOUVER, BC / ACCESSWIRE / November 22, 2021 / Mawson Gold Limited (“Mawson”) or (the “Company”) (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) announces the results of New Exploration Technologies (“NEXT”) advanced Artificial Intelligence (“AI”) work to prioritize new targets within the extensive Rajapalot geophysical and geological databases to create maps for high prospectivity areas. The combination of AI, base of till drill results and smart geological thinking is driving development of winter drill targets at the 100% owned Rajapalot project in Finland.

Key Points:

  • Prospectivity maps for Rajapalot (Figure 1) have been developed using AI over Mawson’s extensive airborne and ground geophysics in addition to the lithologic and geochemical data;
  • Base of till (“BOT”) drill results show considerable overlap with expected high prospectivity zones at Rajapalot (Figure 1);
  • Known mineralized areas were used to calibrate machine learning models that analysed regional level drill core, geophysics, geochemistry, interpreted geology and mineral system genetic models.
  • Base of till is utilized as an in situ method for locating mineralization, as was so successfully demonstrated by Rupert Resources at Ikkari, discovered by following up “a single anomalous base of till sample of 0.2 ppm Au”;
  • New maps focus on only 18 km2 surrounding the resource, where data density was high enough to define known mineralization;
  • 163 km2 of project area remains underexplored, with further ground magnetics and electromagnetics to add to the existing base of till drill data (Figure 2) and smart mapping capabilities;
  • Direct drillable targets have been created at Rajapalot during this exercise as Mawson already holds considerable structural and rock type information;
  • The AI components of the study were funded by the Horizon2020 NEXT project as part the European Union’s initiatives to understand economically important metallogenic belts.

After two years of sharp focus to drill out resources, exploration has returned back to a regional scale within Mawson’s 100%-owned large and strategic 183.5 km2 ground holding in the Peräpohja Schist belt. The program leverages the intimate understanding of the mineral system defining the 1.04 Moz @ 3.0 g/t gold equivalent (“AuEq”) 2021 Inferred Mineral Resource estimate (link) to demonstrate the camp-scale opportunity to grow resources.

Mr. Fairhall, CEO, states, “Each time we revisit the data outside our million-ounce equivalent inferred resource area, we are reminded of the high prospectivity of our large landholding. The NEXT AI analysis is a powerful prospecting tool which has helped uncover and confirm complex correlations that drive our mineralized system, and is something that can be deployed permit-wide. Like the base of till, no single prospecting filter tells us where to drill, but combined we have built a pipeline of targets across our tenement package that we will systematically refine and prioritize as drill targets in the upcoming and future drill seasons.

This study leveraged existing literature, and the results from other NEXT research about the mineral system genetic models to gain insights into the mineralization processes at Rajapalot, and two other metalliferous deposits in Europe. Trap-related favourable settings were derived, and the constituent geological processes leading to mineralization were modelled, over which advanced statistical and machine learning methods for prospectivity were run over the study area. Unsupervised methods such as self-organizing maps (SOM) classify the data points according to how similar they are to each other. Supervised methods such as the artificial neural network (ANN) use training data (for example known mineral deposits) to discover data points which are most similar to the training data.

The map shown in Figure 1 is an example of a SOM map with K-means clustering. It is important to note that many of the BOT drill hole locations (n=2974 sites) identified have geological contexts matching the broad outlines of the mineralization potential areas and others represent untested targets with permissive geophysical character. The level of base of till anomalism is represented by a cumulative gold-arsenic-bismuth-tellurium (“Au-As-Bi-Te”) signal. These elements form part of a common multi-variate geochemical association observed in the Rajapalot Au-Co Inferred Mineral Resource.

On a regional scale base of till drilling has identified targets for either direct drill or ground geophysical follow-up (Figure2).

Technical Background

The Qualified Person, Dr Nick Cook, Mawson’s Chief Geologist, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.

BOT samples were transported by commercial transport from site to the ALSGlobal sample preparation facility at Sodankylä, Finland. Gold was analyzed using 30 g fire assay and ICP finish method Au-ICP21. Multi-element analytical work was conducted at ALSGlobal using method ME-MS41L, using an aqua regia digest followed by ICP mass spectrometry analysis. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold and cobalt content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. ALSGlobal also inserts blanks and standards during the analytical process.

Gold equivalent “AuEq” = Au+(Co/1005) based on assumed prices of cobalt US$23.07/lb and gold US$1,590/oz.

Prospectivity mapping papers: Chudasama, B., Torppa, J., Nykänen, V. & Kinnunen, J. 2021, under revision. Target-scale prospectivity modeling for gold mineralization within the Rajapalot Au-Co project area in northern Fennoscandian Shield, Finland. Part 2: Application of self-organizing maps and artificial neural networks for exploration targeting. Submission to Ore Geology Reviews.

About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)

Mawson Gold Limitedis a gold exploration and development company and has distinguished itself as a leading exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland and its Victorian gold properties in Australia.

About New Exploration Technologies (NEXT)

The project received funding from European Union’s Horizon 2020 research and innovation programme under Grant Agreement No. 776804 – H2020-SC5-2017 NEXT – New Exploration Technologies (“NEXT”). NEXT was created to develop new geomodels and novel sensitive exploration technologies which are fast, cost-effective, environmentally safe and socially accepted. NEXT is a pan-European consortium, which consists of 16 partners from leading research institutes. The members come from 6 EU member states and represent the main metal producing regions of Europe, Fennoscandian Shield, Iberian Pyrite Belt and Central European Belt. These economically most important metallogenic belts of the EU have diverse geology with evident potential for different types of new mineral resource. The mineral deposits in these belts are the most feasible sources of critical, high-tech and other economically important metals in the EU.

On behalf of the Board,

“Ivan Fairhall”
Ivan Fairhall, CEO

Further Information

www.mawsongold.com

1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7

Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316, [email protected]

Forward-Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). All statements herein, other than statements of historical fact, are forward-looking statements and are based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labor. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to: capital and other costs varying significantly from estimates; changes in world metal markets; changes in equity markets; ability to achieve goals; that the political environment in which the Company operates will continue to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; risks related to negative publicity with respect to the Company or the mining industry in general; reliance on a single asset; planned drill programs and results varying from expectations; unexpected geological conditions; local community relations; dealings with non-governmental organizations; delays in operations due to permit grants; environmental and safety risks; and other risks and uncertainties disclosed under the heading “Risk Factors” in Mawson’s most recent Annual Information Form filed on www.sedar.com. While these factors and assumptions are considered reasonable by Mawson, in light of management’s experience and perception of current conditions and expected developments, Mawson can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Figure 1. Self-organizing map (SOM) with K-means clustering indicating prospectivity combined with BOT drill anomalism and map view of Inferred Mineral Resource estimate boundaries. Note that the BOT anomalies are created using a linear combination of Au, As, Bi and Te with the top 7% plotted as coloured dots.

Figure 2. Mawson’s contiguous exploration permits at Rompas-Rajapalot showing base of till drill locations (small white dots) and colour-scaled top 7% anomalous Au-As-Bi-Te signal indicating extensive gold prospectivity across the areas tested

SOURCE: Mawson Gold Limited

View source version on accesswire.com:
https://www.accesswire.com/674035/Mawson-Base-of-till-Drilling-and-Artificial-Intelligence-Driving-Exploration-Targeting-in-Finland







Today’s News

Awalé Resources Limited Share Consolidation

Awalé Resources Limited Share Consolidation
PR Newswire
VANCOUVER, BC, Dec. 1, 2021

VANCOUVER, BC, Dec. 1, 2021 /PRNewswire/ – Awalé Resources Limited (“Awalé” or the “Company”) (TSXV: ARIC) announces that further to its November 4, 2021 news relea…

Awalé Resources Limited Share Consolidation

PR Newswire

VANCOUVER, BC, Dec. 1, 2021 /PRNewswire/ – Awalé Resources Limited (“Awalé” or the “Company“) (TSXV: ARIC) announces that further to its November 4, 2021 news release, its share consolidation on a 8:1 basis has been accepted and will be effective on December 6, 2021.

All registered shareholders will be sent new certificates representing their share positions directly from the Company’s transfer agent Computershare without any action on their part.    Post consolidation the Company will have approximately 23,348,137 common shares issued and outstanding prior to rounding for fractional shares.

ON BEHALF OF THE BOARD

AWALE RESOURCES LIMITED.

“Glen Parsons”

Glen Parsons, President and CEO

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward-looking information except as required by applicable law.

Cautionary Statement

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

View original content:https://www.prnewswire.com/news-releases/awale-resources-limited-share-consolidation-301435790.html

SOURCE Awale Resources




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Brompton Split Banc Corp. Announces Details of Class A Share Split and Concurrent Preferred Share Private Placement

Not for distribution to U.S. newswire services or for dissemination in the United States. TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) — (TSX: SBC, SBC.PR.A)…

Not for distribution to U.S. newswire services or for dissemination in the United States.

TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) — (TSX: SBC, SBC.PR.A) Brompton Split Banc Corp. (the “Company”) is pleased to announce the details of the previously announced split of its class A shares (the “Share Split”) and provide an update on the concurrent private placement of preferred shares (the “Private Placement”). The Share Split and the Private Placement remain subject to the approval of the Toronto Stock Exchange (the “TSX”).

The Company is pleased to announce that class A shareholders of record at the close of business on December 14, 2021 will receive 25 additional class A shares for every 100 class A shares held, pursuant to the Share Split. Following the Share Split, class A shareholders will continue to receive the currently targeted monthly distribution of $0.10 per class A share. As a result, the Share Split will result in an overall increase in the dollar amount of distributions to be paid to class A shareholders by approximately 25%. The Company provides a distribution reinvestment plan, on a commission-free basis for class A shareholders that wish to reinvest distributions and realize the benefits of compound growth.

Pursuant to the Private Placement, 3,164,203 preferred shares were offered to investors at a price of $10.10 per preferred share such that following the Share Split there will be an equal number of class A shares and preferred shares outstanding. The Private Placement is scheduled to close on December 14, 2021. Following the completion of the Share Split and the Private Placement, the preferred shares are expected to have downside protection from a decline in the value of the Company’s portfolio of approximately 57%.(1)

Over the last 10 years, the class A shares have delivered a 17.8% per annum total return based on NAV, outperforming the S&P/TSX Capped Financials Index by 5.1% per annum and the S&P/TSX Composite Index by 9.0% per annum.(2) Since inception, class A shareholders have received cash distributions of $18.75 per class A share.

The preferred shares have delivered a 4.9% per annum total return over the last 10 years based on NAV, outperforming the S&P/TSX Preferred Share Index by 1.5% per annum with lower volatility.(2)   

The Company invests, on an approximately equal weighted basis, in a portfolio (the “Portfolio”) consisting of common shares of the six largest Canadian banks (currently, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, The Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Bank of Montreal). In addition, the Company may hold up to 10% of the total assets of the Portfolio in investments in global financial companies for the purposes of enhanced diversification and return potential.

About Brompton Funds

Founded in 2000, Brompton Funds Limited (“Brompton”) is an experienced investment fund manager with income focused investment solutions including TSX listed closed-end funds and exchange-traded funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email us at [email protected] or visit our website at www.bromptongroup.com

(1)   Based on the November 25, 2021 NAV of the class A shares, as used to determine the Share Split ratio.
(2)   See Standard Performance Data table below.

Brompton Split Banc Corp.
Compound Annual NAV returns to October 31, 2021
1 Yr   3 Yr   5 Yr   10 Yr   S.I.  
Class A Shares (TSX:SBC) 123.3 % 21.6 % 17.9 % 17.8 % 12.7 %
S&P/TSX Capped Financials Index 55.7 % 15.3 % 12.6 % 12.7 % 9.2 %
S&P/TSX Composite Index 38.8 % 15.3 % 10.6 % 8.8 % 7.4 %
           
Preferred Shares (TSX:SBC.PR.A) 5.1 % 5.1 % 5.0 % 4.9 % 5.1 %
S&P/TSX Preferred Share Index 28.8 % 6.7 % 7.2 % 3.4 % 3.1 %

Returns are for the periods ended October 31, 2021 and are unaudited. Inception date November 15, 2005. The table shows the Company’s compound return on a class A share and preferred share for each period indicated, compared with the S&P/TSX Capped Financials Index (“Financials Index”), the S&P/TSX Composite Index (“Composite Index”), and the S&P/TSX Preferred Share Index (“Preferred Share Index”) (together the “Indices”). The Financials Index is derived from the Composite Index based on the financials sector of the Global Industry Classification Standard. The Composite Index tracks the performance, on a market weight basis, of a broad index of large-capitalization issuers listed on the TSX. The Preferred Share Index tracks the performance, on a market weight basis, of preferred shares listed on the TSX that meet criteria relating to minimum size, liquidity, issuer rating, and exchange listing. The class A shares and preferred shares are not expected to mirror the performance of the Indices which have more diversified portfolios. The Indices are calculated without the deduction of management fees, fund expenses and trading commissions, whereas the performance of the Company is calculated after deducting such fees and expenses. Further, the performance of the Company’s class A shares is impacted by the leverage provided by the Company’s preferred shares.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds on the TSX or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the fund, to the future outlook of the fund and anticipated events or results and may include statements regarding the future financial performance of the fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.





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MGX Minerals Granted Management Cease Trade Order to Allow for Completion of Financials

 

VANCOUVER – TheNewswire – December 1, 2021 – MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (CNSX:XMG.CN) (FKT:1MG) (OTC:MGXMF) is…

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VANCOUVER – TheNewswire – December 1, 2021 – MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (CNSX:XMG.CN) (FKT:1MG) (OTC:MGXMF) is pleased to announce that in connection with the anticipated late filing of the Company’s audited annual financial statements (the “Financial Statements“) and management’s discussion and analysis for the financial year ended July 31, 2020, the Company has applied for, and has been granted, a temporary management cease trade order (the “MCTO“) by the British Columbia Securities Commission (the “BCSC“).

The Company applied for the MCTO in order to secure additional time to finalize the Financial Statements. As a result of recent changes to the Company’s board of directors, the Company anticipates a longer than anticipated timeframe for the audit of the Financial Statements. However, it is the Company’s reasonable expectation that the audit of the Financial Statements will be completed by December 27th, 2021.

By way of background and as required by the BCSC, please note the following:

1. The Company is required to file its July 31, 2020 audited annual financial statements, management’s discussion and analysis and the applicable CEO and CFO certifications in respect of such filings (collectively, the “Annual Filings“) all in accordance with IFRS, by November 29, 2020 (the “Filing Deadline“), as required pursuant to National Instrument 51-102 Continuous Disclosure Obligations. The Company does not anticipate that it will be able to complete its Annual Filings on or before the Filing Deadline.

2. The Company and its auditors are working diligently to prepare and file the Annual Filings on or before December 27th, 2021.

3. The Company confirms that it intends to issue a status report on a bi-weekly basis, for as long as it remains in default of the Filing Deadline in respect of the Annual Filings.

 

4. There is no other material information concerning the affairs of the Company that has not been generally disclosed.

During the MCTO, the general investing public will continue to be able to trade in the Company’s listed common shares. However, for the duration of the MCTO, the Company’s Chief Executive Officer and Chief Financial Officer will not be able to trade the Company’s common shares.

The Company has imposed an insider trading blackout pending the filing of the Annual Filings. If the MCTO is granted, the Company will comply with the alternative information guidelines described in National Policy 12-203 Management Cease Trade Orders for so long as it remains in default due to the late filing of the Annual Filings.

Corporate Update

The Board of Directors has removed Lyndon Patrick effective November 30, 2021 for non performance having missed three or more consecutive Director Meetings and reduced the number of Directors to three, in accordance with Company By-laws. A search has begun for a new Director.  The current Directors of the Company are Andris Kikuaka and Jared Lazerson.

About MGX Minerals

MGX Minerals is a diversified Canadian resource and technology company with interests in advanced metals, industrial minerals, nuclear energy and rocketry.

 

Contact Information:

Sandey Wang

Interim Chief Financial Officer

[email protected]

604 681 7735

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein are forwardlooking information. Forward-looking information in this press release include, but are not limited to, statements with respect to holding the postponed Meeting, and the filing of an amended notice of meeting and record date for the postponed Meeting. Forward-looking information is generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “in the event”, “if”, “believes”, “asserts”, “position”, “intends”, “envisages”, “assumes”, “recommends”, “estimates”, “approximate”, “projects”, “potential”, “indicate” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.

The Company’s forward-looking information are based on the applicable assumptions and factors the Company considers reasonable as of the date hereof, based on the information available to the Company at such time, including without limitation, the ability to host the postponed Meeting at a later date, and the ability to find a suitable location which can accommodate an in-person shareholders’ meeting. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various risk factors. These factors include, among others, uncertainties arising from the COVID-19 pandemic, and general economic conditions or conditions in the financial markets. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors, and their potential effects, which may be accessed through the Company’s profile on SEDAR at www.sedar.com. Except as required by securities law, the Company does not intend, and does not assume any obligation, to update or revise any forward-looking information, whether as a result of new information, events or otherwise.

 

Copyright (c) 2021 TheNewswire – All rights reserved.



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