Connect with us

Today’s News

Battery Mineral Resources Corp. Announces Closing of Oversubscribed Flow-Through Private Placement

Vancouver, British Columbia–(Newsfile Corp. – September 29, 2021) – Battery Mineral Resources Corp. (TSXV: BMR) ("Battery" or the "Company") is very pleased…

Share this article:

Published

on

Vancouver, British Columbia–(Newsfile Corp. – September 29, 2021) – Battery Mineral Resources Corp. (TSXV: BMR) (“Battery” or the “Company“) is very pleased to announce that it has completed the second and final tranche of its oversubscribed, non-brokered private placement (the “Placement“) announced on August 23, 2021.

In the second and final tranche of its placement, the Company issued 961,539 common shares in the capital of the Company on a flow-through basis (each, a “Flow-Through Share“) at a price of $0.78 per Flow-Through Share to raise gross proceeds of $750,000. The private placement was originally announced for the amount of $800,000. However, due to increased investor demand, the total raised increased from $800,000 to $1,306,800, in aggregate. These funds will be used to finance the continuation of the Company’s 2021 Canadian exploration programs in Ontario.

In connection with the second tranche of the Placement, the Company will pay a finder’s fee to GloRes Securities Inc. consisting of a cash commission of $45,000, being 6% of the proceeds GloRes raised for the Company.

CEO Martin Kostuik commented, “We are especially pleased to close this round of financing that was not only oversubscribed but also at a price higher than the current market. We are grateful that these investors value the underlying potential that BMR has in delivering direct exposure to the ever-increasing upside and future of electric vehicles via the battery related materials in our asset base – commodities that we look forward developing on the back of the potentially near-term cash flowing Punitaqui Mine.”

The gross proceeds from the Placement will be used for “Canadian exploration expenses,” and will qualify as “flow-through mining expenditures” as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the Flow-Through Shares with an effective date no later than December 31, 2021 in an aggregate amount not less than the gross proceeds raised from the issue of the Flow-Through Shares. The Flow-Through Shares are subject to a statutory hold period expiring four months and one day from the closing date of the second tranche of the Placement.

The continuation of the 2021-2022 exploration and drill program that will focus on the Elk Lake, Wilder, Gowganda and McAra projects in Ontario.

At McAra, the main focus will be an update of the May 26, 2020 NI 43-101 technical report outlining the McAra resource estimate as well as a re-assessment of the potential for economic extraction.

The update of the 2020 technical report for McAra, will focus on updating the report with more recent market pricing for cobalt, a potential inclusion of new drilling results and a re-assessment of the prospects for economic extraction.

A 300-kilogram sample of McAra cobalt mineralization will be collected for metallurgical ore-sorting test work. The results of the test work will determine the viability of the McAra cobalt mineralization which averages 1.47% cobalt to be mechanically upgraded in grade using new, automated ore-sorting techniques. Upgrading the extracted mineralized material may allow for direct shipment to a cobalt refinery.

At Gowganda East, the exploration drill holes will target the upper contact of the diabase along the eastern limb of the Nipissing Diabase Sill. Historically this contact was the principal ore host in the Gowganda Mining Camp which produced 60.1 million ounces silver and 1.3 million pounds of cobalt from 1910 to 1989. In addition, target identification using geophysics has proven valuable. Three Dimensional Induced-Polarization (“3D-IP”) surveys at Gowganda East have identified several targets comprising high chargeability anomalies which could be indicative of sulphide mineralization as well as a number of chargeability lows which have been interpreted as potential alteration zones.

The Fall field work program consisting of prospecting, geological mapping, and rock sampling, targeting known mineral cobalt-silver occurrences and historic workings, is aimed to identify new high priority targets for drilling, trenching and ground geophysical surveys. This ground truthing will target historic workings south of the town of Elk Lake as well as the Sydney Creek showing in the Gowganda Project area as a potential drill target. Initial prospecting and sampling on the newly staked Wilder Project West claims in the vicinity of the historic Rusty Lake mine will be field assessed.

Figure 1: BMR’s land position in the Cobalt Embayment

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6076/98019_5a765e4554eb2a7a_002full.jpg

Other Corporate Maters
The Company also wishes to announce that it has retained the services of Independent Trading Group (“ITG”) for market-making of its shares (TSXV: BMR). ITG is an independent, privately held broker-dealer based in Toronto, Ontario, that provides a wide range of financial and investment services, and is registered with the Canadian Securities Exchange, NEO, Toronto Stock Exchange, and TSXV along with the Investment Industry Regulatory Organization of Canada (IIROC). ITG is an unrelated and unaffiliated group to BMR and has no interest, directly or indirectly in BMR or the securities of BMR or any right or intent to acquire such an interest. The Company has retained ITG for a 12-month term and, in consideration of the services provided by ITG, the Company will pay ITG a monthly cash fee of $7,000. The contract with ITG was executed April 12th, 2021.

Additional Information
P. J. Doyle, FAusIMM (#208850), Battery Mineral Resources Corp. – Vice President Exploration, supervised the preparation of and approved the scientific and technical information in this press release pertaining to the Canada Exploration Program.

Scientific and technical information pertaining to the cobalt resource at McAra was extracted from the Company’s NI 43-101 “Technical report on Cobalt Exploration Assets in Canada” dated as of May 26, 2020 with an effective date of March 31, 2020, prepared by Glen Cole (P. Geo) of SRK Consulting (Canada) Inc.

About Battery Mineral Resources Corp.
A battery mineral company with high-quality assets providing shareholders exposure to the global mega-trend of electrification and focused on growth through cash-flow, exploration, and acquisitions in the world’s top mining jurisdictions. BMR is currently developing the Punitaqui Mining Complex and pursuing the potential near term resumption of operations at the prior producing Punitaqui copper-gold mine. The Punitaqui copper-gold mine most recently produced approximately 21,000 tonnes of copper concentrate in 2019 and is located in the Coquimbo region of Chile. BMR is engaged in the discovery, acquisition, and development of battery metals (cobalt, lithium, graphite, nickel & copper), in North and South America and South Korea with the intention of becoming a premier and sustainable supplier of battery minerals to the electrification marketplace. Battery Mineral Resources is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp, Canada and continues to pursue a focused program to build on the recently announced, +1-million-pound high-grade cobalt resource at McAra by testing over 50 high-grade primary cobalt silver-nickel-copper targets. In addition, Battery owns 100% of ESI Energy Services, Inc., also known as Ozzie’s, a pipeline equipment rental and sales company with operations in Leduc, Alberta and Phoenix, Arizona.

For further information, please contact:

Battery Mineral Resources Corp.
Martin Kostuik
Phone: +1 (604) 229 3830
Email: [email protected]

The securities offered pursuant to the Private Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98019










Author: Author

Share this article:

Today’s News

Kiplin Metals Looks to Expand Uranium Project Portfolio Athabasca, Saskatchewan, Canada

 

Vancouver, British Columbia – TheNewswire – October 25th, 2021  – Kiplin Metals Inc. (the “Company”) (TSXV:KIP) (Frankfurt: 17G1) announces…

Share this article:

 

Vancouver, British Columbia – TheNewswire – October 25th, 2021  – Kiplin Metals Inc. (the “Company”) (TSXV:KIP) (Frankfurt: 17G1) announces that its board of directors has commenced a strategic review of several uranium projects in Athabasca, Saskatchewan, Canada with the plan to expand the Company’s project portfolio.

Peter Born, Director of the Company commented; “after considerable consultation with our strategic advisors, the board has determined that, given the deep technical knowledge of our team, combined with the global initiative to transition the world’s energy needs away from fossil fuels, the company has initiated a strategic review of several uranium projects in Athabasca, Saskatchewan.  The company’s technical team has extension experience with uranium exploration and we are confident the addition will bring significant value to Kiplin Metals shareholders.”

About Kiplin Metals

Kiplin Metals is an early-stage exploration and development mining company.  The Company’s management understands that the greatest value creation for shareholders is through the discovery, and development of mineral resources, therefore the company focuses on project that can provide such impact.  Kiplin Metals has the rights to two highly perspective minerals exploration assets in Canada, a region in the world known for its resources, collaborative regulatory structure and stable economic and political environment.  

The Exxeter Gold Project covers an area of 715ha located in Val d’Or Quebec, one of the premier gold camps in the world which produced over 113.4M oz Au by the end of 2019. The project covers 3.8km of the Cadillac Tectonic zone, which is the principal geologic structure responsible for cold mineralization in the Val d’Or.

The Lac Rochester Copper Project is located on the eastern border of the Val d’Or mining camp, 50km southeast of the city of Val D’Or, and 14km south of the Company’s flagship property, the Exxeter Gold Project. Past exploration of the Lac Rochester Copper Project has identified multiple high copper and iron values, concurrent with a large, northeast trending magnetic anomaly.

For further information, contact the Company at 604-622-1199.

On behalf of the Board of Directors,

“Peter Born”

Director

 

Neither the 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.

 

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. 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 or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

Copyright (c) 2021 TheNewswire – All rights reserved.



Author: Author

Share this article:

Continue Reading

Today’s News

Klondike Gold Closes First Tranche Raising $2,242,851

NEW YORK, NY / ACCESSWIRE / October 25, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) ("Klondike Gold" or the "Company") is pleased to…

Share this article:

NEW YORK, NY / ACCESSWIRE / October 25, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) (“Klondike Gold” or the “Company”) is pleased to announce that further to its news release of September 30, 2021, the Company has closed the first tranche (the “First Tranche”) of its non-brokered private placement financing, raising $2,242,851.25 of which $1,935,000 is flow through funds. The Company anticipates to close the balance of the financing in the coming weeks.

In closing the First Tranche, the Company issued 9,675,000 flow-through units at the price of $0.20 per unit, comprising of 9,675,000 common shares which are “flow through” shares for Canadian income tax purposes and 4,837,500 warrants. The Company further issued 1,759,150 non-flow-through units at a price of $0.175 per unit, comprising of 1,759,150 common shares and 879,575 warrants.

All warrants issued in the First Tranche of the financing are exercisable at a price of $0.25 per share until October 22, 2023.

All securities issued in connection with the First Tranche are subject to a four month and one day statutory hold period expiring on February 23, 2022, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The Company intends to use the proceeds from the financing to continue exploration and development of the Company’s Yukon properties, as well as for general working capital.

ABOUT KLONDIKE GOLD CORP.

Klondike Gold Corp. is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. To date, multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company is focused on exploration and development of its 586 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, YT within the Tr’ondëk Hwëch’in First Nation traditional territory.

ON BEHALF OF KLONDIKE GOLD CORP.

“Peter Tallman”
President and CEO
(604) 609-6138
E-mail: [email protected]
Website: www.klondikegoldcorp.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.

Disclaimer for Forward-Looking Information

“This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required.”

SOURCE: Klondike Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/669603/Klondike-Gold-Closes-First-Tranche-Raising-2242851





Share this article:

Continue Reading

Today’s News

Discovery Harbour Announces Results from First of Five Drill Holes on Caldera Gold Property, Nevada

Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) – Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the "Company"…

Share this article:

Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) – Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the “Company” or “Discovery Harbour“) announces that the first of five drill holes results have been received from the Company’s Caldera drill program. Selected core from each of the five holes has been sent for analysis, with the next results expected in late November. The initial drill hole, CP21-01, has anomalous gold results up to 324 parts per billion gold over 1.4 metres. The drillhole intersected primarily volcanic tuffs, moderate to strong propylitic and argillic / sericitic alteration as well as multiple fault zones.

The Company completed drilling a total of slightly over 1900 metres, testing five low sulphidation epithermal gold targets (see map below) on the Caldera Property. Each hole was deeper than any previous drilling on Caldera and each site was selected to test the boiling zone, typically found at approximately 300+ metres below the paleo-surface, where precious metals are concentrated. The Caldera gold property lies in a fertile gold region at the intersection of the Walker Lane and Northumberland Gold Belts northwest of Tonopah, Nevada.

Caldera Gold Project, Completed Drill Holes

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1559/100776_fc1ee2a344e1c8fb_001full.jpg.

Alan Morris, CPG, is the Qualified Person for Discovery Harbour as defined in NI 43-101 and has reviewed and approved the technical contents of this news release.

About Discovery Harbour
Discovery Harbour is focused on sourcing, exploring and developing mineral properties in mining-friendly jurisdictions. Its current primary focus is the drill program on Caldera, a low sulphidation epithermal gold project in Nevada. Additionally, Discovery Harbour has an agreement with Newcrest Mining Limited on its Fortuity 89 property in Nevada.

ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.

“Mark Fields”

Mark Fields, B. Sc. (Geology), B.Comm.(Hon.)
President and Chief Executive Officer
Discovery Harbour Resources Corp.
Tel: (604) 681-3170
Fax: (604) 681-3552

Disclaimer for Forward-Looking Information
This news release contains forward‐looking information that involves various risks and uncertainties regarding future events. Such forward‐looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery Harbour, such as statements that Discovery Harbour intends to pursue the Caldera Project. There are numerous risks and uncertainties that could cause actual results and Discovery Harbour’s plans and objectives to differ materially from those expressed in the forward‐looking information, including: (i) adverse market conditions; (ii) exploration results, (iii) permitting requirements or (iv) the financial position of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Discovery Harbour does not intend to update these forward‐looking statements.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100776







newcrest mining limited

Author: Author

Share this article:

Continue Reading

Trending