VANCOUVER, BC / ACCESSWIRE / September 7, 2021 / Mawson Gold Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (OTC PINK:MWSNF) is pleased to announce the appointment of Mr. Ivan Fairhall as the Company's Chief Executive Officer ("CEO"), effective immediately. Mr. Michael Hudson, who has served as the Company's CEO since March 2004, will continue to serve as a director and the Company's Executive Chairman.
- Ivan Fairhall, an engineer and mine finance professional has been appointed as Mawson's CEO;
- Michael Hudson, who has served as the Company's founding CEO since March 2004, will continue to serve as a director and as the Company's Executive Chairman;
- Increasing the skill base of company is reflective of the transition of Mawson's Finnish assets from exploration to pre-development;
- The Company also announces the commencement of an internal corporate strategic review to identify, examine and consider opportunities related to its Australian assets in order to enhance shareholder value.
The appointment of Mr. Fairhall reflects the need for the Company to add additional mine development expertise, as its projects in Finland transition from advanced exploration to pre-development. Mr. Fairhall brings substantial operating, finance and capital markets experience to the role. The Board of Mawson would like to thank Mr. Hudson for his exceptional service as CEO since co-founding the Company in 2004, and look forward to his on-going leadership as Executive Chairman.
Mr. Michael Hudson, Executive Chairman, states: " We are delighted to have Ivan join Mawson's team. I have worked with Ivan at various points over the last 10 years and know he is very well placed to lead Mawson as the Company pivots towards the dual focus of resource expansion and pre-development in Finland. At the same time, we will soon outline the opportunities that exist for our Australian exploration assets via our strategic review. I truly look forward to working closely with Ivan as we embark on the next stage of the Company's growth."
Mr. Fairhall, CEO, states: "I'm very pleased to be joining Mawson and leading the company through its most exciting stage yet. Rajapalot is growing rapidly with gold contained in resources up over 47% and grades up 19% in less than 12 months, and I believe Mawson has only just scratched the surface of what is clearly emerging as a gold camp of scale. Notwithstanding this huge growth potential, with over 1m oz AuEq now in resources, Rajapalot is now of a scale that justifies necessary work to chart its course to be a mine. I look forward to working with the board and management to unpack the multiple value opportunities for our shareholders."
Mr. Fairhall is a mechanical engineer and mine finance professional with over 15 years of mining industry experience. He has worked in design, construction and commissioning roles, and has considerable experience managing pre-development studies across the commodity and geographic spectrum. Since 2014, he has been with Greenstone Resources, a private equity fund with almost US$500m under management based in London. Greenstone's strategy is to invest in development stage companies with robust projects that can be funded through to production standalone. As Senior Investment Manager, Ivan was integral in sourcing, executing and managing a portfolio of Greenstone's investments, which included Northern Vertex (TSXV:NEE), a 50koz gold producer in USA - for which he was also a non-executive director up until its merger with Eclipse Mining in 2021. Mr. Fairhall holds a B.Eng (Hons, Mech) and a B.Bus, and is a Chartered Engineer with the Institute of Mechanical Engineers.
Concurrently, given the advancement of the Company's Finnish assets, and recent gold discoveries made in Australia by the Company, Mawson has commenced an internal corporate strategic review to identify, examine and consider opportunities related to its Australian assets in order to enhance shareholder value. Results from the review will be announced towards the end of Q3 2021.
Mawson Gold Limited is 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.
Mawson's flagship is the 100%-owned Rajapalot gold-cobalt project, located just south of the Arctic Circle in Finnish Lapland. At Rajapalot the Company has made a significant greenfield discovery and on 26 August 2021 published an updated Inferred Mineral Resource. The updated resource estimation was completed by Eemeli Rantala, AFRY - P.Geo, Ville-Matti Seppä, AFRY - EurGeol of Finland and Craig Brown, Mining Associates Pty Ltd - FAusIMM of Australia. All authors are independent "qualified persons" as defined by NI 43-101. The NI 43-101 technical report is entitled "Mineral Resource Estimate NI 43-101 Technical Report - Rajapalot Property" and is available under Mawson's profile on SEDAR at www.sedar.com and on Mawson's website at www.mawsongold.com
The August 2021 base case open pit and underground constrained Inferred Mineral Resource was estimated at 10,907,000 tonnes @ 2.5 g/t gold ("Au"), 443 ppm cobalt ("Co"), which equates to 3.0 g/t gold equivalent ("AuEq") for 887,000 ounces ("oz") Au or 1,041,980 oz AuEq. The AuEq value was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/1005) and using a gold price of US$1,590 per ounce and a cobalt price of US$23.07/lb. Mineral Resources are stated at a 0.3 g/t AuEq open pit cut-off and 1.1 g/t AuEq underground cut-off from five block models comprising 8 prospects.
The 2021 base case resource increases gold grade by 19% (AuEq grade by 12%) and contained gold ounces by 47% (contained gold equivalent ounces by 35%) as compared to the previous Rajapalot resource estimation published on September 14, 2020 .
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.
On behalf of the Board,
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.
SOURCE: Mawson Gold Limited
View source version on accesswire.com:
financing investment tsx-maw mawson-gold-limited tsxv-nee northern-vertex-mining-corp press-release
FAR Resources Ltd. Announces New Discoveries of Lithium-Bearing Pegmatites on Jean Lake Property, Manitoba
VANCOUVER, British Columbia, Sept. 28, 2021 (GLOBE NEWSWIRE) — FAR Resources Ltd. (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“FAR Resources”…
VANCOUVER, British Columbia, Sept. 28, 2021 (GLOBE NEWSWIRE) -- FAR Resources Ltd. (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“FAR Resources” or the “Company”) is pleased to report preliminary results of its recently completed field visit to the optioned Jean Lake Property near Snow lake, Manitoba. The newly acquired 1002 hectare property adjoins Far’s Zoro lithium project and the Thompson Brothers lithium project of Snow Lake Resources within the Snow Lake pegmatite field.
Following up on historical reports from the 1940s, the company’s prospecting program located two new spodumene-bearing pegmatites (see photos below).
One of these may be the Beryl pegmatite mentioned in Manitoba mineral assessment files, although the location is different to that reported. The second occurrence is a totally new discovery. Both appear to strike in a WNW direction and display abundant coarse-grained spodumene crystals up to 40 cm in length, and are open to expansion in all directions. Character samples have been collected and submitted for confirmatory analysis. More systematic sampling requires clearing of overburden, organic cover and deadfall; the company has initiated this work to allow better definition of the size and grade of the occurrences. The area is well located to permit year-round access for accelerated exploration if warranted.
John Gammack, President and CEO of FAR, said, “We are excited to validate our acquisition of the Jean Lake Property so quickly. With the discovery of at least one previously unknown lithium pegmatite, and the lack of any modern exploration on the property we are very keen to expand our work on the project. As part of the planning for further work, we have lodged an application with the Manitoba Mineral Development Fund (MMDF) to support an expanded program which may include drone magnetometer and LiDAR surveys, additional prospecting and systematic geochemical sampling, and diamond drill testing of high priority targets.”
All samples collected for analysis have been sent to the Ancaster laboratory of Activation Laboratories Ltd.
The technical content of this release has been reviewed by Lindsay Bottomer P.Geo., who is a Qualified Person as defined by NI 43-101.
FAR Resources' Winston Gold and Silver Project includes on-going exploration of their 100 percent owned property located in the Black Range of New Mexico USA. Recent results included exceptional numbers from property-wide confirmatory sampling completed in late 2020 with grades of up to 66.5 g/t gold and 4619 g/t silver. The property’s three mines, Ivanhoe, Emporia and Little Granite are known for their historic production of high-grade gold and silver ores, primarily developed prior to the 1930's with a brief revival in the 1980's but have seen little modern exploration. Full data tables and info can be viewed here on pages 14, 17,19 and 20: https://farresources.com/images/investors/presentation/precious_metals_deck/precious_metals_deck_revised-26Mar2021.pdf.
FAR Resources also has its 100 percent owned ZORO Lithium Project, in CANADA, located in the mining-friendly Snow Lake region of Manitoba containing numerous known lithium deposits. The company has completed five drill programs on the property leading to the discovery of at least 12 lithium-bearing pegmatite dykes. FAR Resources also holds a 60% stake in the Hidden Lake Lithium Project in the Northwest Territories hosting at least 10 lithium bearing spodumene pegmatite dykes with average lithium concentration of 1.03% Li20 and individual samples grading up to 3.3% Li20.
To read more on both lithium properties and past exploration details, click here: https://www.farresources.com/images/investors/presentation/sustainable_energy/REVISED_SUSTAINABLE_ENERGY_PRESENTATION.pdf
For further information, please contact:
President and CEO
Far Resources Ltd
+1 (604) 374-5561
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward Looking Statements
This news release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Photos accompanying this announcement are available at:
acquisition cse-fat far-resources-ltd press-release
Pampa Metals Reports Drilling Results from its Redondo-Veronica Project in Chile With Indications of Deep Porphyry Systems
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQX:PMMCF) is pleased to provide…
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQX:PMMCF) is pleased to provide an update regarding its 6,600-hectare Redondo-Veronica Project in northern Chile, where the Company has received assay results from the seven-hole drill program focused on three separate target areas as previously reported (see news releases dated July 29; July 7; June 29; and June 16, 2021 for further technical information and updates).
Summary & Highlights
- Seven, wide spaced, reverse circulation ("RC") drill holes totalling 1,956 metres ("m") were completed by Pampa Metals at the Company's Redondo-Veronica project in June and July 2021, with final assay results received in September 2021.
- Results point towards potentially deep porphyry copper mineralisation across two of the three target areas that were tested, at Cerro Redondo North and Redondo Southwest:
- Assay results from the upper portions of the Cerro Redondo North target include copper up to 0.16% Cu together with anomalous arsenic values indicative of the upper parts of a porphyry system.
- The Redondo Southwest target is characterised by multiple deep geophysical anomalies including a deep induced polarisation anomaly, with drilling only reaching the upper outer margins of the anomaly to date. Four, wide-spaced drill holes show hydrothermal alteration and mineralisation indicative of the outer margins of a deep porphyry copper system.
- Follow up deeper diamond drilling on these two targets is being evaluated and prioritised against other opportunities within Pampa Metal's exciting portfolio of projects.
Results from the wide-spaced reverse circulation drill program together with geological, geochemical, and geophysical information, are consistently pointing to deep mineralisation at the Cerro Redondo North and Redondo Southwest targets, while Redondo Extreme North has been downgraded to second priority.
Drill testing at Cerro Redondo Norte returned the best geochemical results, at relatively shallow levels, but deeper drilling is required to properly test the indicative source porphyry.
A large, deep, 3D- Vector Induced Polarization (VIP) phase anomaly, coincident with a deep magnetic low and resistivity feature, suggests deep porphyry potential remains beneath the level of current drilling at Redondo Southwest. This is supported by the geological and geochemical results from the recent drilling, which appears to have cut the upper portions of a large, porphyry-related hydrothermal system.
Pampa Metals is continuing the process of integrating all the data collected from the project. Further 3D modelling of the geophysical data, with integrated drill data, is considered essential as a next step. The first pass of RC drilling has been very successful in showing that the Redondo-Veronica project has the potential to host deep porphyry copper style mineralisation, which will require diamond drill follow-up due to the limitations that the less-expensive RC drilling technique has faced with depth.
Redondo-Veronica is situated approximately 40 Km north-northeast of the giant La Escondida - Zaldivar copper mining district, which is the world's largest single copper mining district centred on a series of porphyry copper deposits, with annual production of well over 1 million tonnes of fine copper. The project is also located approximately 55 Km south-southwest of the Gaby Sur copper mine. Redondo-Veronica and the copper mines mentioned all occur within the general north-south trending mid-Tertiary porphyry copper belt of northern Chile, known as the Domeyko Belt, the world's single most productive copper belt.
Work carried out by Pampa Metals at Redondo-Veronica includes reconnaissance-scale geological mapping and minor geochemical sampling, together with a state-of-the-art geophysical program consisting of drone-flown magnetics coverage and 3D Vector Induced Polarization (VIP) and Magneto-Telluric (MT) measurements. Porphyry type quartz veinlets and phyllic alteration outcrop at the Cerro Redondo North target area and several other porphyry-related hydrothermal alteration zones were identified within the property boundary by Pampa Metals, including Redondo Southwest centred some 3 Km to 4 Km southwest of Cerro Redondo Norte.
Technical Details from Redondo-Veronica Drill Program
Pampa Metals drilled seven, wide-spaced reverse circulation (RC) holes at its Redondo-Verónica project totaling 1,956m during June and July 2021. Two drill holes (RV-01 and 02) were drilled at Cerro Redondo North, while another four were drilled at Redondo Southwest (RV-03, 04, 05 and 07). One hole was drilled at Redondo Extreme North (RV-06). RV-05 at Redondo Southwest was inclined at 60° to the west, while all other holes were vertical. All the drill holes cut hydrothermally altered Paleozoic volcanic and intrusive rocks, but did not intersect mineralised inter-mineral porphyry bodies that are proposed to be the source of the porphyry-style hydrothermal alteration observed at surface and in drill holes. Brief summaries of the drill holes follow (also see accompanying maps):
Cerro Redondo North
- RV-01 (320m) cut 12m of gravel cover, 68m of goethite-hematite leached capping, and pervasive phyllic alteration with tourmaline and fine and coarse pyrite disseminations in granitic rocks. The hole was stopped before reaching target depth due to drilling problems. Assay results show copper contents in the range of 100s ppm to a maximum of 0.16% between 100m and 330m depth, which correlate with anomalies in arsenic and halos with anomalous values in lead and zinc. The anomalous geochemistry occurs in the zone of pervasive quartz-sericite (phyllic) alteration associated with what is interpreted to be an epithermal, high sulfidation environment above a potential porphyry target.
- RV-02 (308m), located approximately 1.5 Km northeast of RV-01, directly entered felsic volcanic rocks with intermediate argillic alteration, weak sericite (phyllic) alteration, low pyrite content (from 116m), and partially preserved magnetite. A resistive geophysical target was considered adequately tested. Assay results reveal lower-tenor copper-arsenic anomalies than RV-01, with sporadic spikes in molybdenum-antimony-lead-zinc values, and the hole is interpreted to be peripheral to the potential target.
- RV-03 (276m) cut 30m of gravel cover and entered felsic volcanic rocks with intermediate argillic alteration, weak disseminated pyrite (from 120m), some evidence of quartz veinlets and well-preserved magnetite at the end of the hole (from 220m). The hole was interpreted as being peripheral to the target and drilling was stopped. Assay results confirm the peripheral location of the drill hole, with modest arsenic and antimony anomalies, and sporadic, low-grade copper and gold values.
- RV-04 (202m), located about 2 Km west-southwest of RV-03, directly entered a coarse-grained granitoid with weak phyllic alteration and wide-spaced "D"-type quartz veinlets, weak fine and coarse disseminated pyrite (from 58m), and weakly preserved magnetite. The hole failed to demonstrate consistent phyllic alteration at depth, and was stopped. Assay results confirm the peripheral location of the drill hole, with modest copper-gold-lead-zinc anomalies in the first 20m, and low-tenor arsenic-antimony anomalies along the length of the hole.
- RV-05 (378m), located about 1 Km northwest of RV-03, directly entered Paleozoic granitoids with intermediate argillic alteration, weak phyllic alteration with wide-spaced "D"-type quartz veinlets, minor, fine "A"-type quartz veinlets, low pyrite content (from 82m), and weakly preserved magnetite (from 138m). The last 50m (from 328m) of the hole cut a hydrothermal-magmatic tourmaline breccia. The hole was abandoned due to technical problems without reaching target depth. Assay results show anomalous arsenic-antimony values along the length of the hole, with a higher frequency of anomalous copper values from 300m, which show a certain correlation with anomalies in molybdenum, zinc, and gold. Values up to 117.5 ppm Mo in this borehole are considered indicators of a fertile porphyry system.
- RV-07 (198m), located 1 Km south of RV-03, cut 30m of gravel cover and entered a Paleozoic granitoid with intermediate argillic alteration, metasomatic magnetite in veins, and irregular disseminations of fine-and coarse pyrite. Some increase in pyrite was observed with depth. This hole was considered peripheral to the target, and drilling was stopped. Assay results show low-tenor anomalous values in copper, zinc and lead that increase with depth.
Redondo Extreme North
- RV-06 (264m) directly entered volcanic rocks with predominant intermediate argillic alteration, weak phyllic alteration with wide-spaced "D"-type quartz veinlets and weak pyrite (from 170m). A Paleozoic granitoid predominates from 218m, affected by intermediate argillic with weak preserved magnetite and minor presence of pyrite. This distinct geological domain was instrumental in deciding to stop the drill hole. Modest copper-arsenic anomalies occur along the length of the drill hole, but are concentrated in the top 200m.
Drilling of two holes at Cerro Redondo North has confirmed the presence of relatively shallow copper mineralisation, particularly in RV-01. RV-02 appears to have been drilled on the northeastern periphery of the hydrothermal system. Hole RV-01 confirms the reason for the presence of a cluster of relatively shallow historic drill holes at this location, the results of which are unknown to Pampa Metals. The results in RV-01 also ratify that deeper drilling is required to cut any potentially mineralised porphyry body that is causing the hydrothermal alteration and mineralisation observed at shallower levels.
Drilling of four holes at Redondo Southwest has confirmed a large hydrothermal alteration zone with porphyry characteristics, as recognised from earlier surface geological mapping. Drill hole RV-05 shows anomalous geochemistry with increasing base metals values with depth. Quartz veinlets and copper oxides occur at surface close to the location of the RV-05 collar. Drill holes RV-03, 04 and 07 all show anomalous geochemistry but appear to be more peripheral to the centre of the system.
The hydrothermal alteration and anomalous geochemistry coincide with a consistent zone with loss of magnetic properties (magnetite destruction) below the 1500m elevation level according to the 3D magnetic inversion model (Figure 1), which extends for about 2 Km north-south and more than 2.5 Km east-west, and extends to depth.
3D inversion modelling of the 3D VIP survey along section 7.357.100 N is illustrative of a significant IP phase (chargeability) anomaly at depth beneath drill holes RV-05 and RV-03, with RV-05 being more central (Figures 2, 3, 4 & 5). This coincides with a resistivity anomaly as well as the large, low magnetic anomaly. Together, the geophysical anomalies and the hydrothermal alteration associated in parts with anomalous geochemistry including elevated copper intersections, represent, and provide vectors towards, a potential sulphide-rich centre at depth related to a deep porphyry copper system. Results are encouraging and drilling to date only penetrates the upper edges of the IP anomaly. This consequently represents a significant target that merits follow-up with deep diamond core drilling.
Drilling of one hole at Redondo Extreme North, although confirming the continuation of hydrothermal alteration observed at surface to depth, does not show the consistent phyllic alteration required to encourage deeper drilling. This target has consequently been downgraded.
Pampa Metals employs rigorous sampling and analytical protocols to meet industry standards. 927 drill cutting samples from 2m sampling of the drill holes, together with 117 control samples comprising analytical standard samples, analytical blank samples, and duplicate samples, were prepared (PREP 31B) and analysed by Au-fire-assay (Au AA23) and 4-acid multielement packages (MEMS61) at ALS Patagonia S.A. QA/QC analysis of the results indicates good compliance for standards according to the deviations proposed by the manufacturer, and acceptable differences for duplicates.
Technical information in this news release has been approved by Mario Orrego G, Geologist and a Registered Member of the Chilean Mining Commission and a Qualified Person as defined by National Instrument 43-101. Mr. Orrego is a consultant to the Company.
Note: The reader is cautioned that the Redondo-Veronica Project is an early-stage exploration property and reference to existing mines and deposits, or mineralization hosted on adjacent and nearby properties, is not necessarily indicative of any mineralization hosted on the Redondo-Veronica Project.
The global outbreak of COVID-19 has led governments worldwide to enact emergency measures to combat the spread of the virus. Such measures may result in a period of business disruption including reduced operations, which could have a material adverse impact on the Company's results of operations, financial condition and the market and trading price of the Company's securities.
As of the date of this news release, the duration and immediate and eventual impact of the COVID-19 pandemic remain unknown. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company. The outbreak of COVID-19 has not caused significant disruptions to the Company's business to date, with field activities being conducted by Chile-based specialists and consultants, although international travel to Chile for management has not been possible to date. Important business communication is largely reliant on digital media. Notwithstanding progress to date, the COVID-19 outbreak may yet cause disruptions to the Company's business and operational plans.
ABOUT PAMPA METALS
Pampa Metals is a Canadian company listed on the Canadian Stock Exchange (CSE: PM) as well as the Frankfurt (FSE: FIRA) and OTC (OTCQB®: PMMCF) exchanges. Pampa Metals owns a highly prospective 59,000-hectare portfolio of eight projects for copper and gold located along proven mineral belts in Chile, one of the world's top mining jurisdictions. The Company has a vision to create value for shareholders and all other stakeholders by making a major copper discovery along the prime mineral belts of Chile, using the best geological and technological methods. For more information, please visit Pampa Metals' website www.pampametals.com .
ON BEHALF OF THE BOARD
Julian Bavin | Chief Executive Officer
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Pampa Metals expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Pampa Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in forward-looking statements.
Figure 1: Redondo-Veronica - Drone Magnetics - MVI @ 1,500m Elevation
Showing Surface Locations of RC Drill Holes
Figure 2: Redondo-Veronica - 3D Vector IP - Average Vector Phase
Showing Surface Locations of RC Drill Holes
Figure 3: Redondo-Veronica - 3D Vector IP - 3D Inverted Phase @ 750m Depth
Showing Surface Locations of RC Drill Holes
Figure 4: Redondo-Veronica - MT Resistivity @ 1,000m Depth
Showing Surface Locations of RC Drill Holes
Figure 5: Redondo-Veronica - Interpretive Section 7.357.100 with Drill Holes RV-03, RV-05 - 3D Inversion Model of VIP Survey - Showing MVI Magnetics, Geology, IP Phase (Chargeability) and IP Resistivity
SOURCE: Pampa Metals Corp.
View source version on accesswire.com:
drilling drill program drill hole cse-pm pampa-metals-corporation investment press-release
Commerce Resources Corp. Initiates Mineral Processing Program to Determine Final Prefeasibility Flowsheet Design Criteria
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCWX:CMRZF) (the "Company" or "Commerce") is pleased to…
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCWX:CMRZF) (the "Company" or "Commerce") is pleased to announce that it has initiated a mineral processing program to determine the final Prefeasibility Study (PFS) design criteria of the front-end flowsheet for the Ashram Rare Earth and Fluorspar Deposit. The program has been developed in coordination with the Qualified Persons for the Project's PFS flowsheet design and will be carried out at Hazen Research, where the Company's conventional base flowsheet has been developed.
The program is designed to confirm the mineral processing components in order to establish the front-end flowsheet design for the PFS. The design of the downstream hydrometallurgical flowsheet for the PFS is currently being confirmed as part of the ongoing program to produce mixed rare earth carbonate concentrate to satisfy several requests by global processors (see news release dated September 9, 2021). Specifically, the mineral processing program will include,
- Incorporation of the advancements to the flotation circuit, made by academic and government institutions, into the Company's base flowsheet developed at Hazen Research.
- Final flotation and magnetic separation development testwork to confirm the optimal reagent suite and conditions of the front-end flowsheet.
- Phase II comminution variability testing on nine (9) domain composites of drill core collected throughout the deposit.
- Front-end flowsheet variability testing on early/mid mine-life deposit material using domain composites.
- Filtration testing on flotation concentrate and tailings to determine material handling and tailings management facility design.
Company President, Chris Grove comments, "The Company has significantly advanced the flowsheet's development through focused work in past programs at Hazen Research as well through the numerous optimizations and discoveries from our institutional collaborations, which continue today. As we advance through the later stages of the PFS for Ashram, it is now time to confirm the flowsheet's PFS design criteria which is the next step in advancing the study to completion. Flowsheet development remains an ongoing process through to Feasibility and is commonly refined during operation, and as such, the Company will continue to advance the test work and unlock the considerable potential for optimization that remains in which Hazen and our institutional metallurgical partners have outlined."
Flotation and Wet High Intensity Magnetic Separation (WHIMS)
Approximately 5 tonnes of Ashram Deposit bulk sample material, at a grade of 2.0% rare earth oxide (REO), have been crushed and ground to use as feed for the test program. The initial focus of the program will be to incorporate into the base flowsheet the discoveries and advancements made by the academic and government institutional groups, namely CanmetMINING (a branch of Natural Resources Canada - NRCan) and Université Laval, whose test programs have been supported by various provincial and federal grant programs. The successes of these programs include significant reductions in reagent quantities, alternative reagent suites, and improved recoveries in cleaner-stage flotation (see news releases dated May 13, 2020, and December 17, 2019, respectively). Once the flotation component of the flowsheet has been confirmed and the optimal flotation reagent scheme and conditions have been determined, a scale-up will be completed, which may include additional piloting.
Following confirmation of the flotation circuit design, the magnetic separation circuit will be further advanced and optimized. The initial work on the magnetic separation stage (WHIMS) proved extremely successful with a strong upgrading factor at very high stage recoveries (high 80s to mid-high 90s) resulting in the high-grade monazite concentrates (>40% rare earth oxide) comparable to global producers. As such, significant room remains for additional improvement and the test work planned herein for the magnetic separation stage will target further optimization of this circuit including the evaluation of different types of magnetic separator equipment.
Comminution and Variability
The Phase II comminution test work is currently being carried out by SGS Canada on nine (9) rock unit domain composites and will include Bond low energy impact testing (CWi), JK drop-weight testing (DWT), SAG mill comminution testing (SMC), Bond rod mill grindability testing (RWi), Bond ball mill grindability testing (BWi), and Bond abrasion testing (Ai). The Phase II comminution test work will complement the Phase I work completed in 2012 on near-surface drill core intersections (<71 m depth) located in the central areas of the deposit. Comminution data is a critical component of a PFS and is required to determine appropriate equipment sizing, maintenance cycles, and energy requirements at the mill.
As part of the overall program, variability testing will be completed to expand upon previous work, including applying the base case flotation flowsheet to the nine (9) domain composites currently being used for the comminution testwork. The information will complement the comminution data and further constrain equipment sizing and other critical design criteria for the process plant. A specific focus will be placed on material which is expected to comprise the initial years of mine-life.
Variability testing is a critical component of flowsheet development and ensures that the process plant can handle the natural variability of the deposit mineralization. Some of this work has already been completed throughout the test programs over the past few years and include testwork on drill core at different locations within the deposit, as well as bulk sample material from surface outcrop.
As part of the overall program, filtration testing will be completed on flotation concentrate and tailings to determine material handling and tailings management facility design. Tests will include static settling, vacuum, and pressure filtration and complement the preliminary filtration testing completed as part of the 2015 flotation pilot plant operation. The data collected will be used to determine the appropriate filtration methods and equipment sizing for operation at the process plant, as well as determine the optimal handling, transport, and storage methods for the concentrate and tailings.
The current flowsheet for the Ashram Rare Earth and Fluorspar Deposit, developed by Hazen Research, uses conventional unit processes to produce a high-grade rare earth mineral (monazite) concentrate that is comparable to active global hard-rock REE producers. Specifically, the Ashram flowsheet utilizes a flotation - HCl leach - magnetic separation process approach to achieve high-grade (>40% REO) monazite concentrates at high recovery, similar in nature to those which are commonly processed globally today.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include, but are not limited to, statements regarding the progress of the Company's metallurgical program and any future methods employed therein, the Company's ability to reduce downstream processing costs and risk, the Company's ability to repeat and produce high-grade monazite concentrates, the Company's ability to become one of the lowest cost rare earth producers globally as well as its potential ability to be a long-term supplier to the met-spar and acid-spar markets. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the methods proposed do not work as well as expected, the leach residue may not be usable, that the Company may experience difficulties producing concentrate or achieving an upgrade to the concentrate; changing costs for mining and processing; increased capital costs; the timing and content of the work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; that testing of the Company's process may not prove successful and even if tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE: Commerce Resources Corp.
View source version on accesswire.com:
drilling tsxv-cce commerce-resources-corp press-release
Solaris Resources (TSX:SLS) Shares Jump 7.49% – Current Drilling Targets High-Grade Link With Warintza East and Central
Mining Stocks Hitting 52-Week Highs
Industry-government graphite collaboration bodes well for US critical minerals supply
Devil in the detail for HWK gold explorer spinoff Diablo
Economics20 hours ago
Goldman Raises Year-End Oil Price Target To $90
Energy & Critical Metals19 hours ago
Fission Uranium Shares Rise 3.57% After Completing Drill Program and Advancing Feasibility Study At Patterson Lake
Precious Metals17 hours ago
Gold Maintained Its Haven Status While Crypto Sank During the Evergrande Selloff
Articles14 hours ago
World’s Top Ten Nickel Producers
Today’s News19 hours ago
Sterling Metals Stock Rises 7.69% After Reporting High Grade Polymetallic Mineralization and Expanded Drill Program
Today’s News18 hours ago
IAMGOLD Shares Rise 2.88% on ESG Commitment to Net Negative Greenhouse Gas Emissions by 2050
Articles16 hours ago
Kirkland Lake Stock Rushing Higher on Sale Rumors
Base Metals17 hours ago
Solaris Resources (TSX:SLS) Shares Jump 7.49% – Current Drilling Targets High-Grade Link With Warintza East and Central