VANCOUVER, British Columbia, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Metallica Metals Corp. (CSE:MM) (OTC:MTALF) (FWB:SY7P) (the “Company” or “Metallica Metals”) is pleased to announce that it has commenced a 4,000 metre diamond drilling program on its Starr Gold-Silver Project (“Starr” or the “Project”) located in the Thunder Bay Mining District of Ontario. The Project, which the Company has the right to earn up to a 100% interest from Benton Resources Inc. (TSXV:BEX), covers a large land position (5,991 ha) that includes several high-grade gold and silver occurrences within a 20 km long segment of the southwestern section of the Shebandowan Greenstone Belt. The Project is accessible year-round by highway and logging roads and is located in close proximity to the Moss Lake gold deposit owned by Goldshore Resources Inc. and the Huronian Gold Property owned by Kesselrun Resources Ltd. (Figure 1).
Figure 1: Location of Metallic Metals’ Starr gold-silver project with respect to adjacent properties including the Moss Lake gold deposit (sources: 2013 NI 43-101 Technical Report and PEA for the Moss Lake Project and Kesselrun Resources October 7, 2020 news release)
Please note: The adjacent Moss Lake gold deposit hosts an Indicated Mineral Resource of 39,797,000 tonnes grading 1.1 g/t Au for 1,377,300 contained ounces of gold and an Inferred Mineral Resource of 50,364,000 tonnes grading 1.1 g/t Au for 1,751,600 contained ounces of gold, and is currently under care and maintenance (source: NI 43-101 Technical Report and PEA for the Moss Lake Project with an effective date of May 31, 2013 and filed on SEDAR under Moss Lake Gold Mines Ltd., now Wesdome Gold Mines Ltd.). Readers are cautioned that mineralization and mineral resource estimates on adjacent and/or nearby properties are not necessarily indicative of mineralization on the Starr Project (please refer to additional cautionary statements below).
Paul Ténière, CEO and Director of Metallica Metals commented, “We are very excited to commence our first diamond drilling program at Starr. Our geological team have developed high priority targets at Starr based on our recent airborne geophysical survey results and within areas that have historically been known to host high grade gold and/or silver mineralization. The Shebandowan Greenstone Belt is emerging as a significant gold district with our neighbours Goldshore Resources recently launching a 100,000 m drilling program on the nearby Moss Lake gold deposit. We look forward to testing our drill targets and will keep the market up to date on our exploration activities over the coming weeks.”
Starr Drilling Program Summary
Metallica Metals plans to focus its initial diamond drilling program on a combination of historical high-grade gold and silver mineral occurrences within the Starr Project as detailed below and shown in Figures 2 to 4. The three main areas to be tested are the Central, Eastern, and Western Starr target areas. Drilling will test several structural and geophysical targets determined from the Company’s recently completed airborne mag-EM survey, in combination with all historical geochemical, geophysical, and geological data from the Project. Drilling supervision, and core logging and sampling will be managed by Fladgate Exploration Consulting Corp. of Thunder Bay and diamond drilling will be completed by Missinaibi Drilling Services Ltd. of Timmins.
Central Starr Target Area
Drilling around the central portion of the property (Central Starr) will be focused on the Starr Showing and Powell Zone (Figure 2). The Company has used available historical data, recommendations from previous work reports, as well as targets from a newly completed geophysical and structural interpretation to plan drill holes in this area. Several drill holes will act as infill, testing the continuity between known values, while others will test structures that have never been drill tested that also hold gold values at surface.
Figure 2: Planned drilling (red) in the Central portion of the Starr Property with known showings and gold values from grab and soil sampling, underlain by TMI (Total Magnetic Intensity from the First Vertical Derivative)
Eastern Starr Target Area
Drilling on the eastern side of the property (Eastern Starr) will be focused around the CK Showing (also referred to as the Keats Zone) and the continuation of the Megan Vein (Figure 3). The CK Showing has never been drill tested and returned up to 16.5 g/t Au and 349 g/t Ag from select samples at surface based on historical assessment reports. Two drill holes have also been planned in proximity to the Megan Vein to test the continuity of mineralization in that area. One of these holes is along strike from the vein and located within an IP (Induced Polarization) high, while the other is on the edge of an IP high with multiple significant gold values found at surface. Both have also never been drill tested and are planned to angle into the 2nd order structure that has been interpreted in the area.
Figure 3: Planned drilling (red) on the Eastern Side of the Starr Property with known showings and gold values from grab and soil sampling, underlain by TMI (Total Magnetic Intensity from the First Vertical Derivative)
Western Starr Target Area
On the western side of the property (Western Starr), no historical drilling has occurred (Figure 4). The Company will first target the South Showing, which returned up to 5.6 g/t Au from grab sampling and 8.5 g/t Au over 1 m from channel sampling based on historical assessment reports. The drill holes will angle back towards a major fault that has been interpreted to run through the entire property. The West Showing is geologically peculiar, lying in an ultramafic unit perpendicular to the remaining geology at Starr. Further geological mapping and ground truthing of this intrusive unit will be completed prior to the drill rig moving into this area to fine tune drilling targets.
Figure 4: Planned drilling (red) on the West Side of the Starr Property with known showings and gold values from grab and soil sampling, underlain by TMI (Total Magnetic Intensity - First Vertical Derivative)
Data Verification and Cautionary Statements
A Qualified Person has not fully verified the historical results disclosed in this news release including any sampling, analytical, and test results underlying this information, other than reviewing the geological information and exploration results disclosed in the Ontario Mineral Deposit Inventory assessment files from previous operators referenced above for the Starr Project, and any other available public information including NI 43-101 technical reports. The Company and a Qualified Person plan to complete a detailed review and verify the available scientific and technical information on the Starr Project as part of its exploration and drilling programs over the next several months. However, based on a preliminary assessment of this historical information it appears recent drilling and analytical results by Teck Cominco and Benton Resources were completed using mining industry best practices and QAQC protocols at the time. The historical scientific and technical information disclosed in this news release provides an indication of the exploration potential of the Starr Project but may not be representative of expected results once the Company completes its own exploration and drilling programs on the Starr Project.
This news release also contains scientific and technical information with respect to adjacent or similar mineral properties to the Starr Project, which the Company has no interest in or rights to explore. Readers are cautioned that information regarding mineral resources, geology, and mineralization on adjacent or similar properties is not necessarily indicative of the mineralization on the Company’s properties.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, M.Sc., P.Geo., CEO and Director of Metallica Metals Corp., who is a Qualified Person as defined in NI 43-101.
On behalf of the Board of Directors
Suite 810 – 789 West Pender Street
Vancouver, BC V6C 1H2 Canada
Ph: (604) 687-2038
Suite 401 – 217 Queen Street West
Toronto, ON M5V 0R2 Canada
About Metallica Metals Corp.
Metallica Metals Corp. is a Canadian junior mining company listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol “MM”. The Company is focused on acquiring and exploring gold-silver and platinum group metal (PGM) properties across Canada. The Company is currently exploring and developing its Starr gold-silver project, and Sammy Ridgeline and Richview Pine PGM projects, which are all located adjacent to advanced mining projects in the Thunder Bay Mining District of Ontario.
For more information, please visit the Company’s website at https://metallica-metals.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Information Statement
This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the Company’s proposed acquisition, exploration program and the expectations for the mining industry. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
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 and environmental 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; stock market volatility; liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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Addition to Bathurst Advisory Board
Vancouver, British Columbia – TheNewswire – September 16, 2021 – Bathurst Metal Corp. (TSXV:BMV) (“Bathurst” or the “Company”) On behalf of the…
Vancouver, British Columbia - TheNewswire - September 16, 2021 - Bathurst Metal Corp. (TSXV:BMV) (“Bathurst” or the “Company”) On behalf of the Board of Directors, Mr. Lorne Warner P.Geo., President of Bathurst Metals Corp. is pleased to announce Dr. Guowei Zhang Ph.D., P.Geo. has agreed to join the company’s Advisory Board. Mr. Warner stated “We’re pleased to welcome Dr. Zhang to the Company’s Advisory Board. His experience and expertise, in particular his extensive knowledge of structural geology, is a welcome addition to the Bathurst team. We were grateful to have him as part of our team on the Company’s just completed Nunavut properties mapping and sampling program.”
Dr. Guowei Zhang PhD. P Geo
Dr. Zhang has over 30 years’ experience as a consulting geologist, well recognized for his specialized work in Structural Geology. He received his Ph.D. From McGill University in 1994 and since then has worked extensively throughout Canada, the United States, Asia and Africa. Dr. Zhang is a Fellow of the Geological Association of Canada.
For more information contact Lorne Warner, President email@example.com
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 of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these 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. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.
665 DOUGALL ROAD, GIBSONS BC WWW.BATHURSTMETALS.COM
Copyright (c) 2021 TheNewswire - All rights reserved.tsxv-bmv bathurst-metals-corp press-release
Blue Lagoon’s Toll Mill Partner Sends Out Second Shipment of Gold & Silver Concentrate
VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG; FSE:7BL; OTCQB:BLAGF) is pleased to report that…
VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG; FSE:7BL; OTCQB:BLAGF) is pleased to report that the Company's toll milling partner, Nicola Mining ("Nicola"), has now sent a second shipment of concentrate made from the mineralized material from the Dome Mountain underground mine. The shipment, sent to Ocean Partners UK Limited, a leading European based commodities trading company with offices in six countries around the world, contained 96.7 dry tonnes of gold and silver concentrate grading 93 g/t Au and 468 g/t Ag. All concentrate assays were completed at Base Met Labs, an accredited metallurgical testing facility located in Kamloops, BC.
"Combined with the first 40 tonnes of concentrate that were shipped (see news release September 1, 2021), Nicola has now sent a total of 136.8 dry metric tonnes of concentrate having a total value of approximately CDN $823,000," said Rana Vig, President and CEO of Blue Lagoon Resources. "With an already healthy treasury of nearly $9 million, plus more than $4 million in-the-money warrants and no debt, the additional cash that we will receive from the sale of this concentrate will continue to ensure that we have a significant runway to execute on our aggressive exploration plans on a project that's been relatively unexplored and under the radar," he added.
Bags full of gold and silver concentrate made from Dome Mountain mineralized material are readied and await shipping at Nicola's milling facility in Merritt, B.C.
Trucking of the Dome Mountain mineralized material, which began on June 14, 2021, continues with 10 to 15 trucks leaving the mine site on a weekly basis. To date more than 110 - forty ton trucks - have been dispatched to Nicola, delivering over 4000 tonnes of the Dome Mountain high-grade mineralized material. Weekly shipments are expected to continue until all 6,000 plus tonnes of material have been removed from the underground mine and processed at the Nicola Mining mill (see news release July 7, 2021).
The scientific and technical data contained in this news release was approved by William Cronk, P.Geo., a qualified person as defined in NI 43-101 and a consultant to the Company.
For furtherinformation, please contact:
President and Chief Executive Officer
The CSE has not reviewed and does not accept responsibility for the adequacyor accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the "Company") 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" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities that may not show quality and quantity necessary for upgrading mineralization classification or for further exploration and exploitation of minerals deposits, market prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Blue Lagoon Resources Inc.
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Golden Dawn Receives Drill Permit for Lexington Property, Airborne Survey To Confirm Additional Targets – Historic Mining Camp – Greenwood BC
VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRD), ("Golden Dawn" or the "Company"),…
VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRD), ("Golden Dawn" or the "Company"), announces that it has received final approval for its drilling plan on the Lexington Property at the Greenwood Precious Metals project in southeastern BC. The drilling is anticipated to be executed in late October.
"In addition to the existing mining permit for the defined resource at Lexington, this is a next step in expanding the resource and addressing the potential of the mineralised parallel structure."
States Chris Anderson CEO
Photo showing scooptram at Lexington mine during de-watering phase.
The Lexington Multi-Year Area Based permit is for a total of 25 drill sites, with 14 sites approved for this year. Multiple holes can be drilled from each of the sites, so the permit allows for approximately 11,200 meters to be drilled this year out of a total of up to 20,000 metres.
Initial drilling is planned close to the Lexington Mine permit area where there is potential to extend the mineralized zones that define the known resource. Immediately northwest of the mine there is potential for a northwest extension of outlying resource blocks defined by intercepts in drill holes B93-6 and TG-81 (see table below). Drilling is also planned southeast of the mine where historic drill intercepts that indicate presence of significant widths of copper-gold mineralization along a kilometer-long trend that stretches south from the Lexington mine (as shown for R70-18 and TS-64 in the table below).
|Hole||From (m)||To (m)||Length (m)||Gold g/t||Copper %|
Table showing historic drill intercepts in Lexington target areas.
The historic large intervals of low-grade gold-copper mineralization indicates potential for bulk gold mining at current metal prices. In the coming months, Golden Dawn intends to investigate options for bulk extraction. Property-wide exploration targeting will also benefit from the results of the 2021 airborne VTEM survey which are expected to be finalized soon.
Photo showing typical pyrite > chalcopyrite mineralization at the Lexington deposit.
Map of the Greenwood Precious Metal Project showing the main properties.
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,
For more details, please see the most recent National Instrument 43-101 Technical Report on the Company's website at www.goldendawnminerals.com.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
Per: "Christopher R. Anderson"
Christopher R. Anderson CEO
For further information, please contact:
Forward-Looking Statement Cautions: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Golden Dawn Minerals Inc.
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