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Big Ridge Gold Provides Destiny Option Agreement Update

Toronto, Ontario–(Newsfile Corp. – January 13, 2022) – Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) ("Big Ridge" or the "Company") announces that…

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Toronto, Ontario–(Newsfile Corp. – January 13, 2022) – Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) (“Big Ridge” or the “Company“) announces that Clarity Gold Corp. (CSE: CLAR) has failed to make the cash and share-based payments due January 11, 2022 under the terms of the Destiny Gold Project Option Agreement and has provided the Company with a notice of cancellation, which terminates the option agreement.

Following termination of the option agreement, Big Ridge retains 100% ownership in the Destiny Gold Project, located approximately 75km northeast of Val d’Or, Quebec. In addition, Clarity is required to return the project in good standing with all assessment work filed for the next 12 months and to provide the Company all the exploration data from the 27-hole (10,800 meter) exploration drill program completed in 2021.

Destiny Gold Project

The 100% owned Destiny Gold Project is located in Despinassay Township, 75km northeast of Val d’Or, Quebec. The property consists of 127 mineral claims totalling 5,013 hectares in one of the most prolific gold camps in Canada.

About Big Ridge Gold Corp.

Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and experienced team of officers and directors. The Company is committed to the development of advanced stage mining projects using industry best practices combined with strong social license from our local communities. Big Ridge owns 100% interest in the highly prospective Oxford Gold Project located in Manitoba, 100% interest in the Destiny Gold Project in Quebec and is exploring in the Beardmore-Geraldton gold belt in Ontario.

For more details regarding the Company’s projects, please visit our website at www.bigridgegold.com

ON BEHALF OF THE BOARD,

Mike Bandrowski,
President & CEO

For Further Information Contact:

Mike Bandrowski,
President & CEO
BIG RIDGE GOLD CORP.
18 King Street East, Suite 1400
Toronto, ON, M5C 1C4
Tel: 416-540-5480
Email: [email protected]

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.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “plans”, “projects”, “intends”, “estimates”, “envisages”, “potential”, “possible”, “strategy”, “goals”, “objectives”, or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. All forward-looking statements are based on Big Ridge’s and its employees’ current beliefs as well as various assumptions made by them and information currently available to them. 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 on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, 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. When relying on our forward-looking statements to make decisions with respect to Big Ridge, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110084








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Founders Metals Inc. Files Annual Audited Financial Statements for Revocation of MCTO

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2022) – Founders Metals Inc. (TSXV: FDR) ("Founders" or the "Company") is pleased to confirm…

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2022) – Founders Metals Inc. (TSXV: FDR) (“Founders” or the “Company”) is pleased to confirm that further to its news releases dated January 13, 2022 and December 30, 2021, it completed yesterday the filing of its audited annual financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended August 31, 2021 (the “Annual Filings”) under its profile on SEDAR at www.sedar.com. As a consequence, it expects the Company’s management cease trade order in respect of the delayed Annual Filings (the “MCTO”) to be revoked by securities regulators in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults after the end of the trading day later today.

About Founders Metals Inc.

Founders Metals Inc. is a Canadian exploration company focused on advancing the resource potential of the Elmtree Gold Project in northeastern New Brunswick. The road-accessible project consists of three expansion-ready gold deposits and numerous additional exploration targets. Founders is a member of the Metals Group of companies, an award-winning team of professionals who prioritize technical excellence, careful project selection, and uncompromising corporate governance. The team has a recognized ability to capitalize on investment opportunities and deliver shareholder returns.

For further information, please contact:

Nick Stajduhar, Director
Telephone: +1 (780) 701-3216
Email: [email protected]

FORWARD-LOOKING INFORMATION

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the word, “will” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to the anticipated date for filing the annual financial statements for the year ended August 31, 2021 and related management’s discussion and analysis.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The Company cautions the reader that the above list of risk factors is not exhaustive. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws, or as otherwise may be disclosed in this news release. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112010





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S2 Announces Closing of Private Placement Financing

Toronto, Ontario–(Newsfile Corp. – January 28, 2022) – S2 Minerals Inc. (CSE: STWO) ("S2" or the "Company") announces that it has closed the previously-announced…

Toronto, Ontario–(Newsfile Corp. – January 28, 2022) – S2 Minerals Inc. (CSE: STWO) (“S2” or the “Company“) announces that it has closed the previously-announced non-brokered private placement (the “Offering“). In connection with the closing of the Offering (the “Closing“), the Company sold 12,000,000 units of the Company (the “Units“) at a price of $0.12 per Unit, for gross proceeds of $1,440,000. Each Unit consisted of one common share (“Share“) of the Company and one-half of a common share purchase warrant (“Warrant“). Each whole Warrant entitles the holder, on exercise, to purchase one Share for a period of two years following the closing date of the Offering at an exercise price of $0.25 per Share.

The proceeds from the Offering will be used for general corporate purposes. The securities issued pursuant to the Offering will be subject to a four-month hold period. The Offering is subject to final acceptance of the Canadian Securities Exchange (“CSE“).

Insiders of the Company subscribed for a total of 7,800,000 Units (being $936,000) of the Offering. The Offering is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as a result of the insider participation. Pursuant to Sections 5.5(b) and 5.7(1)(b) of MI 61-101, the Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval because the Shares trade on the CSE and the fair market value of insiders’ participation in the Offering was for cash and was below $2,500,000. The Company will file a material change report in respect of the Offering, but it will be filed less than 21 days in advance of the Closing, which the Company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and to complete the Offering in an expeditious manner.

Early Warning Disclosure

On January 28, 2022, in connection with the Closing, (i) S2’s Executive Chairman, Patrick Sheridan, and a joint actor entered into a subscription agreement pursuant to which they purchased 5,000,000 Units for an aggregate subscription price of $600,000, and an entity that is a joint actor of Mr. Sheridan entered into a subscription agreement pursuant to which that entity purchased 2,000,000 Units for an aggregate subscription price of $240,000, and (ii) an entity controlled by Dan Noone, S2’s CEO, entered into a subscription agreement pursuant to which that entity purchased 400,000 Units for an aggregate subscription price of $48,000.

Prior to the Closing, (i) Mr. Sheridan had ownership and control (together with one of his joint actors) over an aggregate of 8,697,421 Shares (which included the Shares acquired on May 18, 2021 on the exercise of rights issued by the Company, and represented approximately 34.4% of the then issued and outstanding Shares), and (ii) Mr. Noone had ownership and control over an aggregate of 1,123,772 Shares (which included the Shares acquired on May 18, 2021 on the exercise of rights issued by the Company, and represented approximately 4.44% of the then issued and outstanding Shares).

Following the Closing, (i) Mr. Sheridan has ownership and control (together with his joint actors) over an aggregate of 15,697,421 Shares (which represents approximately 42.1% of the issued and outstanding Shares) and 3,500,000 Warrants entitling him (and his joint actors) to acquire an additional 3,500,000 Shares (which represents approximately 47.0% of the Shares on a partially diluted basis), and (ii) Mr. Noone has ownership and control over an aggregate of 1,523,772 Shares (which represents approximately 4.1% of the issued and outstanding Shares) and 200,000 Warrants entitling him to acquire control over an additional 200,000 Shares (which represents approximately 4.6% of the Shares on a partially diluted basis).

The Shares and Warrants comprising the Units were acquired by each of Messrs. Sheridan and Noone for investment purposes. Depending on various factors including, without limitation, the Company’s financial position, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Company’s business or financial condition and other factors and conditions they deem appropriate, each of them may increase or decrease their beneficial ownership of Shares or other securities of the Company whether in the open market, by privately negotiated agreement or otherwise.

The Company is located at 141 Adelaide Street West, Suite 1101, Toronto, Ontario, M5H 3L5. A copy of the Early Warning Report for each of Messrs. Sheridan and Noone can be obtained by calling S2’s office (416.628.5904) or c/o 141 Adelaide Street West, Suite 1101, Toronto, Ontario, M5H 3L5 or on the Company’s SEDAR profile at www.sedar.com.

About S2 Minerals Inc.

S2 Minerals Inc. is a Canadian mineral exploration company and holds the Sandy Lake project in Ontario. The Sandy Lake project comprises approximately 167,000 acres of contiguous mineral claims in the Sandy Lake Archean Greenstone Belt, located approximately 140 miles north of Red Lake, Ontario. S2 beneficially holds a 100% interest in the mineral rights to approximately 137,000 acres, and holds a 50.1% interest in the approximately 15,000 acres of the “Weebigee Joint Venture” claims and a 50% interest in a further 15,000 acres of the Southern Block claims in joint ventures with Goldeye Explorations Limited, now part of Treasury Metals Inc. It is expected that over time, S2 may add new Canadian-focused exploration stage projects to its portfolio.

For further information please contact:

Dan Noone
CEO
+1.416.628.5904
Email: [email protected]

Forward-Looking Statements

This news release contains certain forward-looking statements, including, but not limited to, statements about the Offering, including final acceptance of the CSE and the proposed use of proceeds. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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Benchmark Drills 8.20 Metres of 49.38 g/t Gold Equivalent Within 177.20 Metres of 3.21 g/t Gold Equivalent at the Cliff Creek Deposit

Edmonton, Alberta–(Newsfile Corp. – January 28, 2022) – Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark")…

Edmonton, Alberta–(Newsfile Corp. – January 28, 2022) – Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the “Company” or “Benchmark“) – is pleased to announce new results from 9 infill and expansion drill holes from the southern portion of the Cliff Creek deposit area (Cliff Creek South – CCS). Drilling has intersected broad zones of bulk-tonnage and high-grade mineralization including 177.20 metres (m) core length of 1.73 grams per tonne (g/t) gold and 117.87 g/t silver or 3.21 g/t gold equivalent (AuEq)* with 8.20 m of 23.83 g/t gold and 2044.15 g/t silver or 49.38 g/t AuEq in drill hole 21CCDD061 (Figure 1). These new drill results continue to test and expand beyond the limits of the 2021 modelled pit shell and demonstrate strong continuity of mineralization from surface to over 450 vertical metres depth (Figure 2). Expansion potential at CCS remains open with the potential for open-pit resources at surface as well as high-grade material at depth for underground mining. Benchmark’s flagship Lawyers Gold-Silver Project is located within a road-accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.

John Williamson, CEO, commented, “Benchmark has grown the Cliff Creek South area from a new gold-silver discovery at surface that now extends to 450 metres depth. The entire Cliff Creek Deposit remains open at depth with significant high-grade material. Expansion and infill drilling at the south end of the Cliff Creek Deposit continues to generate significant, long intersections of gold-silver mineralization. Drilling is providing continuity and extending gold-silver mineralization to greater depths. The CCS area is providing optionality for open pit mining and/or underground mining that holds bulk tonnage high-grade gold and silver material at depth.”

Highlights

  • Delivered strong results along the limits of the 2021 $1600 modelled pit shell including 112.09 m core length of 1.21 g/t gold and 30.70 g/t silver or 1.60 AuEq with 44.80 m of 2.05 g/t gold and 18.07 g/t silver or 2.28 g/t AuEq in drill hole 21CCDD044; and 95.55 m core length of 1.30 g/t gold and 47.89 g/t silver or 1.90 g/t AuEq with 21.00 m of 4.04 g/t gold and 84.12 g/t silver or 5.09 g/t AuEq in drill hole 21CCDD049, and;
  • Excellent infill and expansion drilling results that continue to confirm the continuity of this robust mineralizing system along-strike and at-depth beyond the 2021 modelled pit shell (Table 1), and;
  • Potentially reducing the strip ratio by continuing to yield high-grade material with enveloping broad and high-grade bulk-tonnage material.

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Figure 1: Plan map at the Cliff Creek Deposit
 highlighting new 2021 drill results.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6169/111917_36d4932af4ac395f_001full.jpg

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Figure 2: Long-section at the Cliff Creek South Zone showing gold and silver results from a series of drill holes.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6169/111917_36d4932af4ac395f_002full.jpg

Table 1: Drill results summary from the Cliff Creek South Zone

Drillhole From (m) To (m) Interval (m)* Au (g/t) Ag (g/t) AuEq (g/t)** 
 21CCDD028 110.00 122.12 12.12 1.79 162.25 3.82 
120.73 121.52 0.79 16.45 1505.00 35.26 
269.00 282.20 13.20 0.29 42.54 0.82 
271.00 272.25 1.25 2.62 236.00 5.57 
421.80 433.78 11.98 0.66 19.06 0.90 
433.30 433.78 0.48 6.56 335.00 10.75 
 21CCDD039 359.00 361.00 2.00 0.92 19.74 1.17 
419.42 531.51 112.09 0.68 5.07 0.74 
442.00 448.00 6.00 4.91 5.39 4.97 
441.00 444.00 3.00 6.28 6.36 6.35 
 21CCDD043 182.00 281.00 99.00 0.71 20.73 0.97 
243.00 253.00 10.00 2.34 81.69 3.36 
241.00 244.00 3.00 5.64 31.07 6.02 
 21CCDD044 212.00 254.00 42.00 0.48 23.58 0.77 
incl. 243.00 245.00 2.00 1.90 129.25 3.51 
326.15 331.85 5.70 0.70 87.84 1.80 
372.00 496.00 124.00 1.21 30.70 1.60 
incl. 399.00 402.00 3.00 11.58 284.74 15.14 
and 439.20 484.00 44.80 2.05 18.07 2.28 
incl. 439.20 440.00 0.80 34.60 9.59 34.72 
 21CCDD049 332.00 351.00 19.00 1.97 9.78 2.10 
incl. 343.00 344.00 1.00 22.70 54.00 23.38 
402.00 497.55 95.55 1.30 47.89 1.90 
incl. 462.00 483.00 21.00 4.04 84.12 5.09 
incl. 462.00 463.00 1.00 20.40 778.00 30.13 
 21CCDD051 143.00 257.20 114.20 0.52 13.65 0.69 
143.00 202.00 59.00 0.46 14.53 0.64 
143.00 144.00 1.00 5.24 152.00 7.14 
230.00 257.20 27.20 1.06 22.99 1.35 
245.15 246.20 1.05 11.55 133.00 13.21 
 21CCDD053 3.00 17.00 14.00 0.51 64.82 1.32 
4.00 5.00 1.00 4.26 512.00 10.66 
136.00 143.00 7.00 0.60 15.61 0.79 
172.00 276.11 104.11 0.63 20.83 0.89 
247.00 250.00 3.00 5.19 353.05 9.60 
 21CCDD061 111.00 122.83 11.83 0.25 52.28 0.90 
incl. 120.00 121.03 1.03 0.70 279.00 4.19 
176.00 353.20 177.20 1.73 117.87 3.21 
incl. 333.35 350.60 17.25 14.24 1102.99 28.03 
incl. 337.80 346.00 8.20 23.83 2044.15 49.38 
incl. 340.00 341.00 1.00 38.30 3740.00 85.05 
 21CCDD081 213.00 318.00 105.00 0.84 9.15 0.95 
257.00 260.00 3.00 8.67 49.73 9.29 

 

* Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
** Intervals are core-length. True width is estimated between 80 to 90% of core length.

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L’Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over- limits being re-analyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

Stock Options Granted

The Company has granted 6,325,000 stock options at an exercise price of $1.10 to employees and consultants. The options shall expire and terminate on January 26, 2027. These stock options have been granted in accordance with the Company’s Stock Option Plan. Pursuant to this plan, the Company is authorized to grant an aggregate of up to 10% of its issued and outstanding common shares on a rolling basis.

About Benchmark Metals

Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned Lawyer’s Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition to +20 new target areas along the 20 kilometre trend. The Company trades on the TSX Venture Exchange in Canada, the OTCQX Best Market in the United States, and the Tradegate Exchange in Europe. Benchmark is managed by proven resource sector professionals, who have a track record of advancing exploration projects from grassroots scenarios through to production.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “John Williamson”
John Williamson, Chief Executive Officer

For further information, please contact:
Jim Greig
Email: [email protected]
Telephone: +1 604 260 6977

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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