Grande Prairie, Alberta–(Newsfile Corp. – September 30, 2021) –( ) (OTC Pink: ANKOF) (“Angkor” or “the Company”) announces verification for new mineral license status on Andong Meas and Oyadao North licenses, application for a new copper/gold 200-km2 license and cancellation of two previous licenses.
CEO Delayne Weeks describes licensing in Cambodia, “All the permitting was delayed due to restrictions with COVID over the past year. We made the best of that period to complete our review and assessment of our existing licenses and other new licenses for their potential to bring shareholder value in the near term.”
After several months of study, the Company has also applied for a highly-prospective copper/gold license of 200 square kilometers in size as an additional new license.
The Company applied for new license status on two of its properties to provide an initial 3-year term and two additional renewal terms of two years each. At the same time, the Company cancelled renewals on Oyadao South and Banlung South. Weeks added, “We feel our other licences are far more prospective for minerals, will allow for better use of our resources, and this pivot is consistent with our strategic review.”
During the past year and through COVID restrictions, the Cambodia exploration teams completed extensive exploration on Canada Wall, Gossan Hills, and Wild Boar prospects on the Andong Meas license and further Induced Polarization on the Oyadao North license. Identifying solid drill targets for the upcoming season was the goal of the exploration work. Processing of samples and analysis from the two licenses is ongoing now during the rainy season to finalize drill targets, with drilling to start in mid to late November at the end of rainy season.
During the past four months, the Company has also completed an extensive study on the third new license application area and already has identified drill targets there as well.
VP Exploration, Dennis Ouellette comments, “Andong Meas has provided several enticing results from both new and previous prospects. Both copper and gold results plus the ‘cradle-to-grave’ agreement with the local Indigenous Communities indicate the strong potential of the license. Oyadao North license sits directly north of the PS mine site making the southern part of the license a probable extension of the veins but additionally, Oyadao North has several prospects on the northern part of the license that require additional exploration. And the third license currently under application holds great potential, making the upcoming year exciting with advanced exploration and drilling plans.”
Dennis Ouellette, B.Sc, P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #104257) and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). He is the Company’s VP Exploration on site and has approved the technical disclosure in this document.
is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in SE Asia with multiple licenses Cambodia. In 2020, the company received approval and initiated negotiations of terms for the first onshore Production Sharing Contract (PSC) for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.
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.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98052
Pampa Metals Hires Oak Hill Financial for Investor Relations Services
VANCOUVER, BC / ACCESSWIRE / October 25, 2021 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM / FSE:FIRA / OTCQX:PMMCF) is pleased to announce…
VANCOUVER, BC / ACCESSWIRE / October 25, 2021 / Pampa Metals Corp. (“Pampa Metals” or the “Company”) (/ FSE:FIRA / OTCQX:PMMCF) is pleased to announce it has retained the services of Oak Hill Financial (“Oak Hill”) of Toronto for Investor Relations Services.
Pampa Metals has a unique property portfolio of eight (8) projects, covering a series of greenfield copper and gold targets along the highly productive, world-class mineral belts of northern Chile. The company has a highly qualified board and management, with lengthy experience with major and junior companies, participation in significant discoveries, and multiple decades of experience in South America. Current technical activities include:
- Ongoing geophysical, geochemical, and geological surveys have identified high-quality drill targets on 4 wholly owned projects;
- Recent drilling at 2 of these projects has given clear vectors towards what are interpreted to be mineralised porphyry centers;
- Value-add via third party expenditures with an Option & JV Agreement at 2 additional projects.
About Oak Hill Financial
Oak Hill is a Toronto-based firm which develops strategic platforms for its clients that are utilized to gain exposure to, and recognition in, the capital markets. Oak Hill provides capital markets and investor relations services. Its team has marketed corporate issuers ranging in market cap from $10M to $2B in a variety of different sectors to the Canadian retail brokerage channel and institutional networks. Oak Hill’s team has extensive experience across equity capital markets, equity research, institutional equity sales and traditional investor relations – resulting in tailored and highly collaborative solutions. Oak Hill is located at 161 Bay Street, Suite 2460 in Toronto.
Oak Hill will work closely with Pampa Metals to develop and deploy a comprehensive capital markets strategy and campaign. Activities will include providing an investor relations program catering to retail brokers and registered family offices, marketing services and an ongoing client services program.
Pampa Metals and Oak Hill have signed a services agreement (the “Agreement”) and the Company shall pay Oak Hill a monthly advisory fee of CAD$14,000 plus applicable taxes from the Effective Date of the Agreement and every month thereafter as long as the Agreement remains in effect.
ABOUT PAMPA METALS
Pampa Metals is a Canadian company listed on the Canadian Stock Exchange (www.pampametals.com.) 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
ON BEHALF OF THE BOARD
Julian Bavin | Chief Executive Officer
Ioannis (Yannis) Tsitos | Director
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.
SOURCE: Pampa Metals Corp.
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Condor Files PEA Technical Report on SEDAR
SURREY, BC / ACCESSWIRE / October 25, 2021 / Condor Gold (AIM:CNR)(TSX:COG)(OTC PINK:CNDGF) is pleased to announce the filing of a Preliminary Economic…
SURREY, BC / ACCESSWIRE / October 25, 2021 / Condor Gold (AIM:CNR)(SEDAR as per the terminology, definitions and guidelines given in the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards on Mineral Resources and Mineral Reserves (May 2014) as required by NI 43-101 (“The CIM Code”). The CIM Code is an internationally recognised reporting code as defined by the Committee for Mineral Reserves International Reporting Standards. The filing follows the RNS dated 9 September 2021 summarising the PEA including sensitivity analyses. The PEA is available on Condor’s website.)(OTC PINK:CNDGF) is pleased to announce the filing of a Preliminary Economic Assessment Technical Report (“PEA”) for its La India Project, Nicaragua on
The strategic study covers two scenarios: Scenario A, in which the mining is undertaken from four open pits, termed La India, America, Mestiza and Central Breccia Zone (“CBZ”), which targets a plant feed rate of 1.225 million tonnes per annum (“Mtpa”); and Scenario B, where the mining is extended to include three underground operations at La India, America and Mestiza, in which the processing rate is increased to 1.4 Mtpa.
Highlights: 1.4Mtpa PEA Open Pit + Underground Operations
- Internal Rate of Return (“IRR”) of 54% and a post-tax Net Present Value (“NPV”) of US$418 million, after deducting upfront capex, at a discount rate of 5% and gold price of US$1,700/oz.
- Average annual production of ~150,000 oz of gold over the initial 9 years of production.
- 1,470,000 oz of gold produced over 12-year Life of Mine (“LOM”).
- Initial capital requirement of US$160 million (including contingency), where the underground development is funded through cash flow.
- Pay back period 12 months.
- All-in Sustaining Costs of US$958 per oz gold over LOM.
- Robust Base Case presents an IRR of 43% and a post-tax NPV of US$312 million at a discount rate of 5% and gold price of US$1,550/oz.
Highlights 1.225 Mtpa PEA La India Open Pit + Feeder Pits:
- IRR of 58% and a post-tax NPV of US$302 million, at a discount rate of 5% and gold price of US$1,700/oz.
- Average annual production of ~120,000 oz of gold over the initial 6 years of production.
- 862,000 oz of gold produced over 9 year Life of Mine (“LOM”).
- Initial capital requirement of US$153 million (including contingency).
- Pay back period 12 months.
- All-in Sustaining Costs of US$813 per oz gold.
- Robust Base Case presents an IRR of 48% and a post-tax NPV of US$236 million at a discount rate of 5% and gold price of US$1,550/oz.
For further information, please visit www.condorgold.com or contact:
Mark Child, Chairman and CEO
+44 (0) 20 7493 2784
Beaumont Cornish Limited
Roland Cornish and James Biddle
+44 (0) 20 7628 3396
SP Angel Corporate Finance LLP
+44 (0) 20 3470 0470
H&P Advisory Limited
Andrew Chubb and Nilesh Patel
+44 207 907 8500
Tim Blythe and Megan Ray
+44 (0) 20 7138 3204
was admitted to AIM in May 2006 and dual listed on the TSX in January 2018. The Company is a gold exploration and development company with a focus on Nicaragua.
In August 2018, the Company announced that the Ministry of the Environment in Nicaragua had granted the Environmental Permit (“EP“) for the development, construction and operation of a processing plant with capacity to process up to 2,800 tonnes per day at its wholly-owned La India gold Project (“La India Project”). The EP is considered the master permit for mining operations in Nicaragua.
La India Project contains a Mineral Resource of 9,850 Kt at 3.6 g/t gold for 1.14 M oz gold in the Indicated category and 8,479 Kt at 4.3 g/t gold for 1.18 M oz gold in the Inferred category. A gold price of $1,500/oz and a cut-off grade of 0.5 g/t and 2.0 g/t gold were assumed for open pit and underground resources, respectively. A cut-off grade of 1.5 g/t gold was furthermore applied within a part of the Inferred Resource. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that any part of the Mineral Resources will be converted to Mineral Reserves.
Environmental Permits were granted in April and May 2020 for the Mestiza and America open pits respectively, both located close to La India. The Mestiza open pit hosts 92 Kt at a grade of 12.1 g/t gold (36,000 oz contained gold) in the Indicated Mineral Resource category and 341 Kt at a grade of 7.7 g/t gold (85,000 oz contained gold) in the Inferred Mineral Resource category. The America open pit hosts 114 Kt at a grade of 8.1 g/t gold (30,000 oz) in the Indicated Mineral Resource category and 677 Kt at a grade of 3.1 g/t gold (67,000 oz) in the Inferred Mineral Resource category. Following the permitting of the Mestiza and America open pits, together with the La India Open Pit Condor has 1.12 M oz gold open pit Mineral Resources permitted for extraction.
The reporting standard adopted for the reporting of the Mineral Resource Estimate (“MRE”) uses the terminology, definitions and guidelines given in the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards on Mineral Resources and Mineral Reserves (May 2014) as required by NI 43-101 (“The CIM Code”). The CIM Code is an internationally recognised reporting code as defined by the Combined Reserves International Reporting Standards Committee.
Neither the contents of the Company’s website nor the contents of any website accessible from hyperlinks on the Company’s website (or any other website) is incorporated into, or forms part of, this announcement.
The Mineral Resource Estimate has been completed by Ben Parsons, a Principal Consultant (Resource Geology) with SRK Consulting (U.S.) Inc, who is a Member of the Australian Institute of Mining and Metallurgy, MAusIMM(CP). He has some nineteen years’ experience in the exploration, definition and mining of precious and base metals. Ben Parsons is a full-time employee of SRK Consulting (U.S.), Inc, an independent consultancy, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) of the Canadian Securities Administrators and as required by the June 2009 Edition of the AIM Note for Mining and Oil & Gas Companies. Ben Parsons consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.
The Qualified Persons responsible for the Technical Report are Dr Tim Lucks of SRK Consulting (UK) Limited, and Mr Fernando Rodrigues, Mr Stephen Taylor and Mr Ben Parsons of SRK Consulting (U.S.) Inc. Mr Parsons assumes responsibility for the MRE, Mr Rodrigues the open pit mining aspects, Mr Taylor the underground mining aspects and Dr Lucks for the oversight of the remaining technical disciplines and compilation of the report.
The technical and scientific information in this press release has been reviewed, verified and approved by Gerald D. Crawford, P.E., who is a “qualified person” as defined by NI 43-101 and is the Chief Technical Officer of.
The technical and scientific information in this press release has been reviewed, verified and approved by Andrew Cheatle, P.Geo., who is a “qualified person” as defined by NI 43-101.
All statements in this press release, other than statements of historical fact, are “forward-looking information'” with respect to the Company within the meaning of applicable securities laws, including statements with respect to: the ongoing mining dilution and pit optimisation studies, and the incorporation of same into any mining production schedule, future development and production plans at La India Project. Forward-looking information is often, but not always, identified by the use of words such as: “seek”, “anticipate”, “plan”, “continue”, “strategies”, “estimate”, “expect”, “Project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, “could”, “might”, “will” and similar expressions. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions regarding: future commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; the receipt of required permits; royalty rates; future tax rates; future operating costs; availability of future sources of funding; ability to obtain financing and assumptions underlying estimates related to adjusted funds from operations. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.
Such forward-looking information involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to: mineral exploration, development and operating risks; estimation of mineralisation and resources; environmental, health and safety regulations of the resource industry; competitive conditions; operational risks; liquidity and financing risks; funding risk; exploration costs; uninsurable risks; conflicts of interest; risks of operating in Nicaragua; government policy changes; ownership risks; permitting and licencing risks; artisanal miners and community relations; difficulty in enforcement of judgments; market conditions; stress in the global economy; current global financial condition; exchange rate and currency risks; commodity prices; reliance on key personnel; dilution risk; payment of dividends; as well as those factors discussed under the heading “Risk Factors” in the Company’s annual information form for the fiscal year ended December 31, 2020 dated March 31, 2021 and available under the Company’s SEDAR profile at www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The laboratory test conducted to determine the proportion of a mineral within a rock or other material. Usually reported as parts per million which is equivalent to grams of the mineral (i.e., gold) per tonne of rock
Acid rock drainage and metal leaching
The proportion of a mineral within a rock or other material. For gold mineralisation this is usually reported as grams of gold per tonne of rock (g/t)
grams per tonne
|Indicated Mineral Resource||
That part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.
|Inferred Mineral Resource||
That part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that may be limited, or of uncertain quality and reliability,
The Internal Rate of Return (IRR) is the discount rate that makes the net present value (NPV) of a project zero. In other words, it is the expected compound annual rate of return that will be earned on a project or investment
|Mineral Resource Estimate||
A concentration or occurrence of material of economic interest in or on the Earth’s crust in such a form, quality, and quantity that there are reasonable and realistic prospects for eventual economic extraction. The location, quantity, grade, continuity and other geological characteristics of a Mineral Resource are known, estimated from specific geological knowledge, or interpreted from a well constrained and portrayed geological model.
Canadian National Instrument 43-101 a common standard for reporting of identified mineral resources and ore reserves
Net Present Value (NPV) is the value of all future cash flows (positive and negative) over the entire life of an investment discounted to the present. NPV analysis is a form of intrinsic valuation and is used extensively across finance and accounting for determining the value of a business, investment security, capital project, new venture, cost reduction program, and anything that involves cash flow. It is after deducting the upfront capital cost
|Open pit mining||
A method of extracting minerals from the earth by excavating downwards from the surface such that the ore is extracted in the open air (as opposed to underground mining).
A sheet-like body of crystallised minerals within a rock, generally forming in a discontinuity or crack between two rock masses. Economic concentrations of gold are often contained within vein minerals.
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West High Yield (W.H.Y.) Resources Ltd. Announces Grant of Stock Options
Calgary, Alberta–(Newsfile Corp. – October 22, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces…
Calgary, Alberta–(Newsfile Corp. – October 22, 2021) –( ) (“West High Yield” or the “Company“) announces that its board of directors has approved and authorized the grant of 350,000 stock options (the “Options“) to a consultant of the Company effective October 21, 2021. The Options are granted in accordance with the terms of the stock option plan of the Company. All of the Options vest on their date of grant and every one (1) Option entitles the holder thereof to purchase one (1) common share of the Company at a price of CAD$0.34 per common share for a period of five (5) years from the Option grant date.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: [email protected]
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100621
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