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Apex Resources Announces Updated Resource Estimate for its Jersey-Emerald Tungsten Project

September 10, 2021 – TheNewswire – Vancouver, BC – Apex Resources Inc. ("Apex”) (TSXV:APX) (OTC:SLMLF) announces an updated NI43-101 resource estimate…

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September 10, 2021 - TheNewswire - Vancouver, BC - Apex Resources Inc. ("Apex”) (TSXV:APX) (OTC:SLMLF) announces an updated NI43-101 resource estimate for its Jersey-Emerald Tungsten Project located in the Nelson Mining District of southeastern British Columbia. The current resource estimate was triggered by a statement in Apex’s MD&A filed on May 26, 2016.

In its MD&A filed on May 26, 2016 the Company disclosed an increase in tungsten resources on its Jersey Emerald Project related to a resource update filed by Apex’s current joint venture partner. That 2016 disclosure was not supported by an independent technical report issued by Apex.

The present updated report was completed by independent qualified person (“QP”) Sue Bird, P.Eng, of Moose Mountain Technical Services (“MMTS”). The study was a total deposit resource that included the Emerald, East Emerald, Invincible, Dodger, East Dodger and Dodger 4200 tungsten zones. The study involved reviewing 28,997 metres of diamond drilling in 241 holes on the property. Table 1 below summarizes the total model resource for the Jersey-Emerald Project which has an effective date of July 26, 2021.  

Table 1        Jersey-Emerald Mineral Resource Estimate – Total Project

Source

Class

Cut-off

Tonnage

NSR

Wo3

Mo

Au

Wo3 Metal

Mo Metal

Au Metal

(CDN$/t)

(tonnes)

(CDN$)

(%)

(%)

(gpt)

('000 lbs)

('000 lbs)

(ounces)

Open Pit

Indicated

25

1,045,153

55.04

0.157

0.015

0.029

3,618

334

958

30

970,440

57.14

0.163

0.015

0.031

3,483

323

958

35

864,486

60.16

0.171

0.016

0.034

3,255

311

945

40

739,976

63.93

0.181

0.018

0.039

2,950

289

925

50

461,891

75.51

0.211

0.024

0.042

2,148

246

628

Inferred

25

1,472,801

63.06

0.175

0.025

0.012

5,689

802

559

30

1,398,473

64.94

0.180

0.026

0.011

5,559

792

504

35

1,285,247

67.78

0.188

0.028

0.011

5,313

782

471

40

1,095,164

72.98

0.201

0.031

0.012

4,853

741

412

50

797,312

83.52

0.227

0.039

0.009

3,994

680

231

Underground

Indicated

within CDN$60 shape

427,650

82.40

0.213

0.036

0.101

2,007

342

1,387

Inferred

3,655,244

90.79

0.248

0.026

0.109

20,017

2,087

12,857

Open Pit & Underground at Base Case

Indicated

varies as above

1,472,803

62.99

0.173

0.021

0.050

5,625

676

2,345

Inferred

5,128,045

82.82

0.227

0.026

0.081

25,706

2,889

13,415

Notes for Table 1:

  1. 1.Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines. 

  2. 2.Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.  

  3. 3.The Mineral Resource has been confined by a “reasonable prospects of eventual economic extraction” pit using the following assumptions: 150% pit case using an Wo3 price of US$300/tonne, an Mo price ofUS$15.00/lb and an Au price of US$1600/oz at a currency exchange rate of 0.77 US$ per $CDN; 90% payable Au, 99% Mo payable, 3% conversion to APT of Wo3; and typical roasting, refining, transport, and insurance costs. A 1.5% royalty is applied to the NSR calculation. 

  4. 4.Metallurgical recoveries of 85%, 80% and 75% Tungsten, Molybdenum, and gold respectively. 

  5. 5.Pit slope angles are assumed at 45º. Mining costs are CDN$5.00/tonne, and Processing plus General and Administration (G&A) costs of $25/tonne milled. 

  6. 6.The specific gravity of the deposit has been assigned as 3.55 in mineralized domains and 3.21 outside domains 

  7. 7.Numbers may not add due to rounding. 

 

The total model resource for the tungsten project at current metal prices assuming cut-off grades of CDN$25 for open pit and CDN$60 for underground is highlighted in the above table.

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

 The following factors, among others, could affect the Mineral Resource estimate: commodity price and exchange rate assumptions; pit slope angles; assumptions used in generating the LG pit shell, including metal recoveries, and mining and process cost assumptions.  The QP is not aware of any environmental, permitting, legal, title, taxation, socioeconomic, marketing, political, or other relevant factors that could materially affect the Mineral Resource estimate.

The results of the current MMTS study confirm a significant increase in tonnage resulting from the 2014 drill program, but do not support the resource estimate reported in 2016. The present Inferred Resource of 5,128,045 tonnes at a tungsten grade of 0.227% WO3 is 6.4% lower than the 2016 estimate of 5,480,000 tonnes grading 0.273% WO3. The present Indicated Resource of 1,472,803 tonnes at a tungsten grade of 0.173% WO3 is less than 50.0% of the 2016 estimate of 3,071,000 tonnes grading 0.341% WO3.  The difference between the two studies is partially due to the fact that remnant mineralization in the historic workings was not considered in the recent study due to concerns regarding eventual economic extraction.

The previously reported Pb-Zn in the Jersey-Emerald deposit of the property is not included in this Resource Estimate due to uncertainties in the location of previous underground mining voids, assay interval locations, incomplete Pb-Zn assay database, and uncertainties in “reasonable prospects of eventual economic extraction” due to proximity to the existing openings.

The report concludes that the mineral resource estimate warrants further exploration.  The QP recommends additional work to infill the WO3 mineralized zones and potentially add to the Mo and Au zones.  The recommended exploration program will include two phases with Phase 1 to upgrade the Classification of known zones.  It is recommended that for potential remaining Pb-Zn mineralization, the underground openings be re-surveyed, with follow-up re-assaying and drilling dependent on the result of the survey.  The total recommended budget for these two phases of exploration is CDN$1.2M

The following recommendations are made by the QP:

  • - Future drilling programs employ QAQC sample inclusion rates consistent with current practice to include blanks, field duplicates, coarse duplicates, and CRMs, and that certified blank material be sourced for future assaying.

    - Re-assaying of significant intervals in holes from 2014 and 2017 is recommended due to lower-than-expected results in CRMs and overlimit assays for tungsten not being done.

    - Check assays for gold in 2014 drilling is recommended due to issues with a provisional standard that was used.  

  • - A collar survey is recommended to remove any questions regarding drillhole locations that have been changed to reconcile with topography or errors induced during conversion from mine grid coordinates.

    - For drilling outside of the resource area, there is a significant amount of assay values of metals that could be of interest that are not included in the resource database from both historic and non historic drilling.  It is recommended that a full review of the assay database be accomplished to take advantage of all existing data prior to further resource modeling.  

The updated Technical Report was prepared by Sue Bird, P.Eng., a Geological Engineer with Moose Mountain Technical Services. Sue Bird is a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101) and has reviewed and approved the contents of this news release.

 

Arthur G. Troup, P.Eng., Geological

President and CEO

For further information please contact:

Marc Lee, Investor and Corporate Communications

Tel: (604) 628-0519 Fax: (604) 628-0446

 

This release was prepared by Apex's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex's filings that are available at www.sedar.com or Apex's website at www.apxresources.com.

 

Copyright (c) 2021 TheNewswire - All rights reserved.

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West High Yield (W.H.Y.) Resources Ltd. Announces Completion of Private Placement

Calgary, Alberta–(Newsfile Corp. – September 28, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is…

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Calgary, Alberta--(Newsfile Corp. - September 28, 2021) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce the completion of its previously announced placement offering (the "Offering") of units (the "Units"). The Company completed one closing under the Offering for gross proceeds of CAD$116,457.25.

Under the Offering, the Company issued 332,735 Units, comprised of 332,735 common shares in the capital of the Company (the "Common Shares") and 83,183 Common Share purchase warrant (the "Warrants"). One (1) full Warrant, together with CAD$0.45, entitles the holder thereof to acquire one (1) additional Common Share of the Company for a period of twelve (12) months from the date of closing. The Warrants will not be listed on the TSX Venture Exchange.

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.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com

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.

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/97953

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North American Nickel Congratulates PNR on Signing Definitive Asset Purchase Agreement to Acquire Assets in Botswana

Vancouver, British Columbia–(Newsfile Corp. – September 28, 2021) – North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the "Company"…

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Vancouver, British Columbia--(Newsfile Corp. - September 28, 2021) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the "Company" or "NAN") is pleased to announce that Premium Nickel Resources ("PNR") has executed a definitive asset purchase agreement ("APA") with the Liquidator of BCL Limited ("BCL") to acquire the Selebi, and Selebi North (together the "Selebi Assets") nickel-copper-cobalt ("Ni-Cu-Co") assets and related infrastructure formerly operated by BCL. PNR has announced that they are now targeting the closing of this transaction, and transfer of ownership of the assets, within 120 days. PNR is also negotiating a separate asset purchase agreement to finalize terms for any prioritized Tati Nickel Mining Corporation ("TNMC") assets that may be purchased.

PNR submitted an indicative offer to the BCL and TNMC liquidators in June 2020 to acquire the assets of the former producing BCL Mining Complex and separately the TNMC operations located in north-eastern Botswana. On February 10, 2021, PNR was selected as the preferred bidder and on March 22, 2021, PNR entered into a memorandum of understanding providing for a six-month exclusivity period to complete additional work and negotiate the asset purchase agreements (see news release dated March 24, 2021).

NAN CEO, Keith Morrison commented, "During the exclusivity period, NAN's team has continued to support PNR in acquiring new information to support the economic feasibility of redeveloping a combination of the former BCL assets. This agreement will separate the Selebi deposits from the Phikwe mines and processing infrastructure. PNR will advance the redevelopment of the Selebi deposits using an alternative beneficiation process to produce commercial concentrates of Ni-Cu-Co. This business model will reduce the environmental impact of the processing, by using less power and less water, while employing the use of advanced modern technologies to safeguard the environment and minimize the carbon footprint. PNR will now complete additional exploration activities and drilling with the ambition to fully characterize the size and grade of the remaining resource, and redevelop the Selebi deposits as a leading environmental, social and corporate governance mining development project."

The Selebi Assets include two shafts and related infrastructure (rail, power and water). Shaft sinking and plant construction started in 1970. Mining concluded in October 2016 when the operations were placed on care and maintenance due to a failure in the processing facility. The redevelopment plan is based on the re-characterization of the remaining resources and the ability to produce both a Cu concentrate and a separate Ni-Co concentrate.

NAN maintains a 10% equity ownership position in PNR following their pro-rata participation in a recent private placement financing (see news release dated August 26, 2021). NAN also holds a 5-year Warrant effective as of February 26, 2020, to purchase an additional 15% undiluted equity interest in PNR for USD$10M and is providing the corporate management and technical expertise to PNR on a contractual basis.

There can be no assurance that PNR will move from exclusivity to successful completion of the proposed acquisition.

About North American Nickel

North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Ontario, Canada. In 2019, the Company became a founding shareholder in Premium Nickel Resources ("PNR") a private Canadian company, to provide direct exposure to Ni-Cu-Co opportunities in the southern African region. PNR completed a Memorandum of Understanding to acquire the assets, in liquidation, formerly operated by BCL Limited in Botswana. In addition, the Company is expanding its area of exploration interest into Morocco and building a relationship with the Office National des Hydrocarbures et des Mines ("ONHYM"), the leading resource crown corporation and the single largest permit holder in Morocco.

The Maniitsoq property in Greenland is a Camp scale permitted exploration project comprising 3,048 square km covering numerous high-grade nickel-copper + cobalt sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland and is accessible from the existing Seqi deep water port with an all-year-round shipping season and hydroelectric power potential from a quantified watershed.

The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-precious metal sulphide deposit of KGHM International Ltd. The property lies along the extension of the Whistle Offset dyke structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.

The Company acquired 100% ownership of property near the southern extent of the Lingman Lake Greenstone Belt in northwest Ontario known as Lingman Nickel and in the Quetico region near Thunder Bay Ontario. The acquisition of these properties is part of the Company's strategy to develop a pipeline of new nickel projects. The Company is evaluating direct and indirect nickel asset acquisition opportunities globally.

ON BEHALF OF THE BOARD OF DIRECTORS

Keith Morrison
Chief Executive Officer
North American Nickel Inc.

For more information contact:

North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
+1 (604) 770-4334

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but is not limited to, statements about the future prospects of any assets or properties of the Company, the ability of the Company to successfully complete due diligence, the ability of the Company to access capital, any spending commitments, the success of exploration activities, the future economics of minerals including nickel and copper, the benefits of the development potential of the properties of the Company, the benefits of drilling and advancement of projects. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors, which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. 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 information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. 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, except as required by law.

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 statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97938

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Monarch Mining Reports its Results for the Quarter and 232-Day Period Ended June 30, 2021

MONTREAL, Sept. 28, 2021 (GLOBE NEWSWIRE) — MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) reported…

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MONTREAL, Sept. 28, 2021 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) reported its results today for the quarter and 232-day period ended June 30, 2021. Amounts are in Canadian dollars unless otherwise indicated.

Summary of financial results

(In dollars, except per share data)

232-DAY PERIOD ENDED
JUNE 30,
2021
 THREE MONTHS ENDED
JUNE 30,
2021
 
Administration1,761,466 1,176,022 
Care and maintenance2,757,758 1,794,899 
Exploration3,471,155 2,229,013 
Income tax recovery deferred mining taxes(1,766,907) (1,790,126) 
Net loss(5,598,402) (2,837,751) 
Net loss per share, basic and diluted(0.12) (0.04) 

“Since being listed on January 26 as the new entity Monarch Mining Corporation, we have made great progress and are now well on our way to restarting operations at the Beaufor Mine, aiming to increase the mine’s previous annual production,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “At the moment, we are getting the Beaufor Mine and Beacon Mill ready to start the pre-production phase start this fall, and we are continuing to recruit personnel to that we can start commercial production by June 2022. On the exploration side, the 42,500-metre drilling program is ongoing at Beaufor, with four underground drills currently on site, and we are extremely pleased with the results to date.”

“Thanks to strategic financings undertaken during the year, we have managed to increase our cash and balance-of-sale-receivable position to approximately $38 million as at September 15, 2021, while minimizing share dilution for our shareholders. We also continue to move work forward on our other advanced projects, McKenzie Break and Croinor Gold, which both have excellent exploration potential,” concluded Mr. Lacoste.

About Monarch
Monarch Mining Corporation (TSX: GBAR) is a fully integrated mining company that owns four advanced projects, including the fully permitted past-producing Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other advanced assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned and fully permitted Beacon 750 tpd mill. Monarch owns 28,702 hectares (287 km2) of mining assets in the prolific Abitibi mining camp that host 714,982 ounces of combined measured and indicated gold resources and 421,793 ounces of combined inferred resources.

Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

FOR MORE INFORMATION:

Jean-Marc Lacoste1-888-994-4465
President and Chief Executive Officerjm.lacoste@monarchmining.com
  
Mathieu Séguin1-888-994-4465
Vice President, Corporate Developmentm.seguin@monarchmining.com
  
Elisabeth Tremblay1-888-994-4465
Senior Geologist – Communications Specialiste.tremblay@monarchmining.com
  
www.monarchmining.com 
 

Table 1: Monarch combined gold resources

 Tonnes
(metric)
Grade
(g/t Au)
Ounces
Beaufor Mine1   
Measured Resources328,5005.759,900
Indicated Resources956,4005.2159,300
Total Measured and Indicated1,284,9005.3219,200
Total Inferred818,9004.7122,500
Croinor Gold2   
Measured Resources80,1008.4421,700
Indicated Resources724,5009.20214,300
Total Measured and Indicated804,6009.12236,000
Total Inferred160,8007.4238,400
McKenzie Break3   
In-pit   
Total Indicated1,441,3771.8083,305
Total Inferred2,243,5621.44104,038
Underground   
Total Indicated387,7205.0362,677
Total Inferred1,083,5034.21146,555
Swanson4   
In-pit   
Total Indicated1,864,0001.76105,400
Total Inferred29,0002.462,300
Underground   
Total Indicated91,0002.868,400
Total Inferred87,0002.878,000
TOTAL COMBINED5
Measured and Indicated Resources
Inferred Resources
  714,982
421,793
 
1 Source: Mineral Resource Estimate of the Beaufor Mine Project, July 23, 2021, Val-d’Or, Québec, Canada, Charlotte Athurion, P. Geo., Clovis Auger, P. Geo. and Dario Evangelista P. Eng., BBA Inc.
2 Source: Monarch Gold prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016). This resource estimate was prepared for Monarch Gold and has not been reviewed by a qualified person for Monarch Mining as required under National Instrument 43-101 and is thus considered as an historical estimate.
3 Source: NI 43-101 Technical Evaluation Report on the McKenzie Break Property, February 1, 2021, Val-d’Or, Québec, Canada, Alain-Jean Beauregard, P.Geo., Daniel Gaudreault, P.Eng., Geologica Groupe-Conseil Inc., and Merouane Rachidi, P.Geo., Claude Duplessis, P.Eng., GoldMinds GeoServices Inc.
4 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the Swanson Project, January 22, 2021, Val-d’Or, Québec, Canada, Christine Beausoleil, P. Geo. and Alain Carrier, P. Geo., InnovExplo Inc.
5 Numbers may not add up due to rounding.

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