Thunder Bay, Ontario--(Newsfile Corp. - September 9, 2021) - Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FRA:M1C1) (the "Company" or Metals Creek) is pleased to announce the Company has commenced mobilizing drill equipment to the Ogden Gold Project in Timmins, Ontario. The Ogden Gold Project is a 50/50 Joint Venture with Newmont Corporation ("Newmont"), with the Company serving as the operator.
The Thomas Ogden Zone (TOG) will be the main focus of the upcoming drill program with emphasis on further defining the orientation of high-grade cross cutting veins and mineralization as well as determining the spacial association of high-grade mineralization associated with cross-cutting structures and veins within these fold structures. Oriented core will be utilized. Diamond Drilling is expected to commence as soon as practical.
Line cutting is ongoing and ground geophysics consisting of Deep Section Induced Polarization (IP) is anticipated to take place during the latter portion of September over Naybob South, Thomas Ogden (TOG) and Thomas Ogden West (TOGW) to help further define the down plunge orientation of the fold axis and mineralization at depth of both TOG and TOGW as well as further defining the plunge direction of known sulfide mineralization within Naybob South below existing drill data.
Spatiotemporal Geochemical Hydrocarbon (SGH) sampling has now been completed over the entire property. This SGH sampling program (Phase 2) was designed to fill in gaps between TOG and South Zone, as well additional sampling to both the eastern and western boundaries. SGH can greatly expedite the target generation process, potentially resulting in substantial cost savings when evaluating and ultimately delineating these potential targets with the extensive overburden coverage on the property.
Alexander (Sandy) Stares states, "With a flurry of exploration activity underway in the Timmins area, we are excited to restart exploration at the Ogden Gold Project. With secured funding from Crescat Capital, we have the required capital to kick start exploration in the Timmins Camp. The Ogden Project is strategically located and consists of 8 km of highly prospective stratigraphy within the prolific Porcupine-Destor Fault with associated high-grade gold mineralization."
About the Ogden Gold Project
Work commenced on the property by Metals Creek in 2009 and has consisted of ground geophysical surveys which include magnetics and induced polarization (IP), down-hole IP, as well as 137 diamond drill holes totaling 35,830 meters.
The Ogden Gold Project covers 8 kilometers of the Porcupine Destor Fault, which is the key conduit for gold mineralization in the Timmins Gold camp. (See Figure 1 Timmins Gold Camp) There are five known gold zones on the property, with TOG and Naybob South seeing the majority of the work. Drilling in 2012 and 2013 on TOG greatly enhanced the company's understanding of the geological and structural complexity within TOG and its control on gold mineralization. Alteration within these gold bearing systems consists of strong albitization and silicification, with varying amounts of pyrite, arsenopyrite mineralization and commonly with associated visible gold. Significant folding is present with enhanced gold grades along the fold hinges. These fold hinges have a gentle plunge to the east. Select results from these drill programs include:
- 210.19g/t grams per ton (g/t) gold (Au) over 12.53 meters (m) including 2732.64g/t Au over 0.93m (TOG-12-25). (see Figure 2)
- 49.96g/t Au over 9.0m including 434.77g/t Au over 1.0m (TOG-13-27)
- 6.08g/t Au over 21.85m including 11.76g/t Au over 9.00m (TOG-12-03)
- 9.46g/t Au over 18.55m and 6.17g/t Au over 6.62m (TOG-12-07)
Upon performing a re-interpretation of the ground geophysical data in conjunction with applying known structural trends known for hosting gold mineralization in the Timmins Gold Camp, a new discovery (TOG West), 1 kilometer west of TOG resulted in an intercept of 5.20g/t Au over 2.90m. More importantly, this intercept resulted in the identification of a second fold structure parallel to that of TOG.
The Naybob South zone is described as a zone of intensely albitized mafic/ultramafics with abundant pyrite and arsenopyrite. Drill intercepts for South Zone include;
- 9.24g/t Au over 6.61m (OG09-012)
- 6.21g/t Au over 6.63m (OG11-002) with both being within 100m of surface.
Newmont's Dome mill is located approximately 8 km east of the property.
All above mentioned drill intercepts are within 150m of surface.
Michael MacIsaac, P. Geo and VP Exploration for the Company and a Qualified Person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont, including the past producing Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont, under which Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
Figure 1 - Timmins Gold camp, Metals Creek Property in Blue.
To view an enhanced version of Figure 1, please visit:
Figure 2 - TOG 12-25
210 g/t Au over 12.5 meters
To view an enhanced version of Figure 2, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95943drilling drill program intercepts tsx-ngt newmont-corporation newmont corporation press-release
Granada Gold Mine Extends Warrant Terms
Rouyn Noranda, Q.C. – TheNewswire – September 24, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”)…
Rouyn Noranda, Q.C. - TheNewswire - September 24, 2021 - Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years. The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023. All other terms and conditions remain constant.
The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing. The amendment is subject to the approval of the TSX Venture Exchange.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
Copyright (c) 2021 TheNewswire - All rights reserved.drilling drill program drills tsxv-ggm granada-gold-mine-inc private placement press-release
Bravada Gold Corporation Applies to Extend Closing of Non-Brokered Private Placement
Vancouver, British Columbia–(Newsfile Corp. – September 24, 2021) – Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported…
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported today that the Company has requested a 30-day extension, subject to TSXV approval, to close the previously announced non-brokered private placement.
The Company announced (August 9th, 2021) that it had closed the first tranche of its previously reported non-brokered private placement by issuing 4,260,000 units at a price of $0.07 per unit for gross proceeds of $298,200. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share.
Net proceeds from the private placement will be used for continued exploration on the Company's 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company's Nevada-based claims, and for working capital.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor shall there be any sale of the units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.
Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits, frequently attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.
Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.
On behalf of the Board of Directors of Bravada Gold Corporation
"Joseph A. Kizis, Jr."
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
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.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
This news release is not intended for distribution to United States newswire services or dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97635intercepts tsxv-bva bravada-gold-corporation bravada gold corporation private placement financing acquisition press-release
Commerce Resources Corp. Announces Warrant Extension and Repricing
VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied…
VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied to the TSX Venture Exchange (the "Exchange") for an amendment to the terms of the 9,674,153 warrants (the "Warrants") issued in connection with the Company's private placement which held its first closing on October 11, 2019 and second closing on October 31, 2019. The Company proposes to extend the expiry date of the Warrants from October 11, 2021 to October 11, 2024 in respect of the first closing and October 31, 2021 to October 31, 2024 in respect of the second closing. In addition, the Company has applied for an amendment of the Warrants' exercise price from $0.50 to $0.285. All other terms of the Warrants will remain the same. The extension of the expiry date and repricing is subject to the approval of the Exchange.
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 REC 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.
SOURCE: Commerce Resources Corp.
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private placement tsxv-cce commerce-resources-corp press-release
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