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Commerce Resources Corp. Initiates Mineral Processing Program to Determine Final Prefeasibility Flowsheet Design Criteria

VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCWX:CMRZF) (the "Company" or "Commerce") is pleased to…

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VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCWX:CMRZF) (the “Company” or “Commerce“) is pleased to announce that it has initiated a mineral processing program to determine the final Prefeasibility Study (PFS) design criteria of the front-end flowsheet for the Ashram Rare Earth and Fluorspar Deposit. The program has been developed in coordination with the Qualified Persons for the Project’s PFS flowsheet design and will be carried out at Hazen Research, where the Company’s conventional base flowsheet has been developed.

The program is designed to confirm the mineral processing components in order to establish the front-end flowsheet design for the PFS. The design of the downstream hydrometallurgical flowsheet for the PFS is currently being confirmed as part of the ongoing program to produce mixed rare earth carbonate concentrate to satisfy several requests by global processors (see news release dated September 9, 2021). Specifically, the mineral processing program will include,

  • Incorporation of the advancements to the flotation circuit, made by academic and government institutions, into the Company’s base flowsheet developed at Hazen Research.
  • Final flotation and magnetic separation development testwork to confirm the optimal reagent suite and conditions of the front-end flowsheet.
  • Phase II comminution variability testing on nine (9) domain composites of drill core collected throughout the deposit.
  • Front-end flowsheet variability testing on early/mid mine-life deposit material using domain composites.
  • Filtration testing on flotation concentrate and tailings to determine material handling and tailings management facility design.

Company President, Chris Grove comments, “The Company has significantly advanced the flowsheet’s development through focused work in past programs at Hazen Research as well through the numerous optimizations and discoveries from our institutional collaborations, which continue today. As we advance through the later stages of the PFS for Ashram, it is now time to confirm the flowsheet’s PFS design criteria which is the next step in advancing the study to completion. Flowsheet development remains an ongoing process through to Feasibility and is commonly refined during operation, and as such, the Company will continue to advance the test work and unlock the considerable potential for optimization that remains in which Hazen and our institutional metallurgical partners have outlined.”

Flotation and Wet High Intensity Magnetic Separation (WHIMS)
Approximately 5 tonnes of Ashram Deposit bulk sample material, at a grade of 2.0% rare earth oxide (REO), have been crushed and ground to use as feed for the test program. The initial focus of the program will be to incorporate into the base flowsheet the discoveries and advancements made by the academic and government institutional groups, namely CanmetMINING (a branch of Natural Resources Canada – NRCan) and Université Laval, whose test programs have been supported by various provincial and federal grant programs. The successes of these programs include significant reductions in reagent quantities, alternative reagent suites, and improved recoveries in cleaner-stage flotation (see news releases dated May 13, 2020, and December 17, 2019, respectively). Once the flotation component of the flowsheet has been confirmed and the optimal flotation reagent scheme and conditions have been determined, a scale-up will be completed, which may include additional piloting.

Following confirmation of the flotation circuit design, the magnetic separation circuit will be further advanced and optimized. The initial work on the magnetic separation stage (WHIMS) proved extremely successful with a strong upgrading factor at very high stage recoveries (high 80s to mid-high 90s) resulting in the high-grade monazite concentrates (>40% rare earth oxide) comparable to global producers. As such, significant room remains for additional improvement and the test work planned herein for the magnetic separation stage will target further optimization of this circuit including the evaluation of different types of magnetic separator equipment.

Comminution and Variability
The Phase II comminution test work is currently being carried out by SGS Canada on nine (9) rock unit domain composites and will include Bond low energy impact testing (CWi), JK drop-weight testing (DWT), SAG mill comminution testing (SMC), Bond rod mill grindability testing (RWi), Bond ball mill grindability testing (BWi), and Bond abrasion testing (Ai). The Phase II comminution test work will complement the Phase I work completed in 2012 on near-surface drill core intersections (<71 m depth) located in the central areas of the deposit. Comminution data is a critical component of a PFS and is required to determine appropriate equipment sizing, maintenance cycles, and energy requirements at the mill.

As part of the overall program, variability testing will be completed to expand upon previous work, including applying the base case flotation flowsheet to the nine (9) domain composites currently being used for the comminution testwork. The information will complement the comminution data and further constrain equipment sizing and other critical design criteria for the process plant. A specific focus will be placed on material which is expected to comprise the initial years of mine-life.

Variability testing is a critical component of flowsheet development and ensures that the process plant can handle the natural variability of the deposit mineralization. Some of this work has already been completed throughout the test programs over the past few years and include testwork on drill core at different locations within the deposit, as well as bulk sample material from surface outcrop.

Filtration
As part of the overall program, filtration testing will be completed on flotation concentrate and tailings to determine material handling and tailings management facility design. Tests will include static settling, vacuum, and pressure filtration and complement the preliminary filtration testing completed as part of the 2015 flotation pilot plant operation. The data collected will be used to determine the appropriate filtration methods and equipment sizing for operation at the process plant, as well as determine the optimal handling, transport, and storage methods for the concentrate and tailings.

The current flowsheet for the Ashram Rare Earth and Fluorspar Deposit, developed by Hazen Research, uses conventional unit processes to produce a high-grade rare earth mineral (monazite) concentrate that is comparable to active global hard-rock REE producers. Specifically, the Ashram flowsheet utilizes a flotation – HCl leach – magnetic separation process approach to achieve high-grade (>40% REO) monazite concentrates at high recovery, similar in nature to those which are commonly processed globally today.

NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, supervised the preparation of the technical information in this news release.

About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email [email protected].

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

Chris Grove
Chris Grove
President and Director
Tel: 604.484.2700
Email: [email protected]
Web: http://www.commerceresources.com

Neither 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.

Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include, but are not limited to, statements regarding the progress of the Company’s metallurgical program and any future methods employed therein, the Company’s ability to reduce downstream processing costs and risk, the Company’s ability to repeat and produce high-grade monazite concentrates, the Company’s ability to become one of the lowest cost rare earth producers globally as well as its potential ability to be a long-term supplier to the met-spar and acid-spar markets. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the methods proposed do not work as well as expected, the leach residue may not be usable, that the Company may experience difficulties producing concentrate or achieving an upgrade to the concentrate; changing costs for mining and processing; increased capital costs; the timing and content of the work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; that testing of the Company’s process may not prove successful and even if tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

SOURCE: Commerce Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/665795/Commerce-Resources-Corp-Initiates-Mineral-Processing-Program-to-Determine-Final-Prefeasibility-Flowsheet-Design-Criteria




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Copper Mountain Mining Announces Appointment of SVP of Exploration

Copper Mountain Mining Announces Appointment of SVP of Exploration
Canada NewsWire
VANCOUVER, BC, Oct. 21, 2021

VANCOUVER, BC, Oct. 21, 2021 /CNW/ – Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) (the “Company” or “Copper Mountain”) is p…

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Copper Mountain Mining Announces Appointment of SVP of Exploration

Canada NewsWire

VANCOUVER, BC, Oct. 21, 2021 /CNW/ – Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) (the “Company” or “Copper Mountain”) is pleased to announce the appointment of Patrick Redmond as Senior Vice President, Exploration, effective November 1, 2021.

“We are delighted to be able to appoint a Senior Vice President of Exploration with Patrick’s extensive experience and expertise,” commented Gil Clausen, Copper Mountain’s President and CEO. “Patrick has an impressive exploration track record of success.  He brings a wealth of knowledge to apply as we invest in the outstanding exploration potential that exists both in B.C. at the Copper Mountain mine and in our projects in Queensland, Australia.”

Mr. Clausen added, “On behalf of the Company and the Board of Directors, I would like to extend our gratitude to Peter Holbek for his dedication and service as he retires from his role as VP Exploration at Copper Mountain. We are pleased that Peter is committed to ensuring a smooth transition providing for continuity of geological knowledge and insight.”

About Patrick Redmond
Patrick has over 25 years of experience in international mineral exploration and the mining industry. He has a track record of value creation through exploration and discovery in multiple jurisdictions and across a range of commodities.  He has in-depth technical expertise in ore-forming hydrothermal systems across a range of ore deposit styles and has particular expertise in porphyry copper deposits.

Patrick was previously Vice President of Exploration at KoBold Metals, where he led an integrated team of geoscientists and data scientists in developing innovative data-science supported tools and machine learning to assist in the discovery of materials critical for the electric vehicle and renewable energy revolution. Previously, he worked for Teck Resources for over 12 years in various senior exploration roles, including General Manager Exploration, The Americas and Technical Director of Geoscience Services. Prior to joining Teck he was Chief Geologist for QGX Ltd.

Patrick received his Ph.D. in Geological and Environmental Sciences from Stanford University, his M.Sc. in Geology, and B.A. (Hons) in Earth Sciences from Dublin University, Trinity College.  Patrick is a member of AusIMM and a Fellow of the Society of Economic Geologists.

About Copper Mountain Mining Corporation
Copper Mountain’s flagship asset is the 75% owned Copper Mountain Mine located in southern British Columbia near the town of Princeton. The Copper Mountain Mine currently produces approximately 100 million pounds of copper equivalent per year, with average annual production expected to increase to approximately 140 million pounds of copper equivalent.  Copper Mountain also has the development-stage Eva Copper Project in Queensland, Australia and an extensive 2,100 km2 highly prospective land package in the Mount Isa area. Copper Mountain trades on the Toronto Stock Exchange under the symbol “CMMC” and Australian Stock Exchange under the symbol “C6C”.

Additional information is available on the Company’s web page at www.CuMtn.com.

On behalf of the Board of

COPPER MOUNTAIN MINING CORPORATION

“Gil Clausen” 

Gil Clausen, P.Eng.
President and Chief Executive Officer

Website: www.CuMtn.com

Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws.  All statements, other than statements of historical facts, are forward-looking statements.  Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”.  Forward-looking statements in this news release include statements concerning, among other things, the Company’s intentions regarding its objectives, goals or future plans; and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced by future events or conditions.  Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements.  Factors that could cause actual results to differ materially from these forward-looking statements include the successful exploration of the Company’s properties in Canada and Australia, the reliability of the historical data referenced in this press release and risks set out in Copper Mountain’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although Copper Mountain believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.  Except where required by applicable law, Copper Mountain disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Cision View original content:https://www.prnewswire.com/news-releases/copper-mountain-mining-announces-appointment-of-svp-of-exploration-301405538.html

SOURCE Copper Mountain Mining Corporation




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Freegold Intersects 1.44 g/t Au over 198.1 metres at the Dolphin Zone including 2.54 g/t Au over 33.5 metres and 98.3 g/t Au over 1.2 metres at the Cleary Zone

Freegold Intersects 1.44 g/t Au over 198.1 metres at the Dolphin Zone including 2.54 g/t Au over 33.5 metres and 98.3 g/t Au over 1.2 metres at the Cleary Zone
Canada NewsWire
VANCOUVER, BC, Oct. 21, 2021

Broad zones of higher than existing resourc…

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Freegold Intersects 1.44 g/t Au over 198.1 metres at the Dolphin Zone including 2.54 g/t Au over 33.5 metres and 98.3 g/t Au over 1.2 metres at the Cleary Zone

Canada NewsWire

  • Broad zones of higher than existing resource grade mineralization
  • 1.21 g/t Au over 76.2 metres in GS2106
  • 0.86 g/t Au over 268.3 metres in GS2110

VANCOUVER, BC, Oct. 21, 2021 /CNW/ – Freegold Ventures Limited (Freegold) (TSX: FVL) (FGOVF: OTCQX) is pleased to announce additional results from the ongoing 40,000 metre drill program currently underway on its Golden Summit project, near Fairbanks, Alaska.

Zone

Hole Number

Depth

Azimuth

Dip

From

To

Interval

Au g/t

Dolphin

GS2105

548.3

360

-70

Oxide

26

46.5

20.5

0.34

56.8

100.2

43.4

0.86

110.8

118.4

7.6

1.69

175.5

220.5

45

0.64

241.6

316.5

74.9

0.65

GS2106

539.3

360

-70

Oxide

32.6

46.8

14.2

0.93

57

133.2

76.2

1.21

153

166.7

13.7

1.07

273.4

285.6

12.2

1.72

352.7

425.8

73.1

0.52

GS2110

574.2

360

-70

168.6

184.1

15.5

1.39

212.1

480.4

268.3

0.86

including

311.8

351.4

39.6

1.14

including

311.8

337.1

25.3

1.59

including

367

382.8

15.8

1.04

GS2125

623

360

-70

Oxide

8.2

78.3

70.1

0.26

203.3

261.2

57.9

0.93

325.2

328.3

3.1

8.8

419.7

617.8

198.1

1.44

including

480.7

514.2

33.5

2.54

including

605.6

608.7

3.1

25.3

Cleary

GS2109

464

360

-70

171.8

205.8

34

0.8

259.3

329.1

69.8

0.53

416.5

423.2

6.7

3.29

GS2130

530

360

-70

108.2

109.9

1.7

18.1

305.4

306.6

1.2

98.3

332

345.8

13.8

0.74

431.1

455.3

24.2

1.26

Cleary

including

455

455.3

0.3

36.7

GS2131

537.3

360

-70

103.8

116.9

13.1

0.64

332

347

15

1.07

397.5

418.6

21.1

1.61

including

398.3

410.5

12.2

2.46

459.2

476.7

17.5

0.82

514.8

528.5

13.7

0.50

Width refers to drill hole intercepts, true width cannot be determined due to the uncertain geometry of mineralization.

Since drilling resumed in February, 2021, over 30,000 metres have been drilled in 55 holes, including holes in progress.  The program is continuing to potentially expand the current resource but also define areas of significantly higher-grade mineralization.

Holes are being systematically drilled not only to determine the orientation of the higher-grade mineralization but also to define the extent of the mineralization which remains open.

Hole GS 2125 was collared within the intrusive, and remained in the intrusive until 111.5 metres, where it intersected quartz biotite schist . At 195 metres  it re-entered intrusive until 285m where it re-entered quartz biotite schist for the remainder of the hole.  The highest grade portion of the hole lies within schist in the footwall of the intrusive.

The remainder of the holes on the Dolphin side (GS2105, GS2106 and GS2110) all lie within schist on the north side of the intrusive.

Both of the broad higher grade intercepts in holes GS2110 and GS2125 lie outside of the existing global resource.  

The 2021 drill program will continue to focus on continuing to determine the orientation of the zones of higher-grade mineralization consistent with Freegold’s revised interpretation, in particular, to the north, east and west of the Dolphin intrusive. In addition, drilling will also be directed to the south of the Cleary Hill mine workings where previous workings including the Colorado, Wackwitz and Wyoming vein zones which have never been tested to depth or along strike to the east. Past drilling in the Cleary Hill area has been largely shallow in nature and it is interpreted that the Dolphin intrusive likely underlies the Cleary Hill area at depth.  See map for locations of holes completed to date.

Key objectives for the 2021 program:

  • Determining the orientation and extent of the higher-grade mineralization.
  • Expanding the currently known resource and upgrading the resource categories as part of the efforts to further advance the project through pre-feasibility, including additional environmental baseline studies, further metallurgical test work, and cultural resource studies.

In addition, Freegold is planning to test other targets on the project that may have potential to host additional resources and host other buried intrusives. Ground geophysics and soil sampling has been conducted on these areas and further drilling is being planned to test these.   Assay reporting remains slow, largely as a result of the backlogs at the preparatory facilities in Fairbanks.

Drill Plan Map and Cross Sections:
https://freegoldventures.com/site/assets/files/2194/drill_plan_map_10212021.pdf 
https://freegoldventures.com/site/assets/files/2194/section_479100e.pdf

Golden Summit was the subject of an intensive drill campaign between January 2011 and August 2013. A total of 36,159 metres were drilled and three NI 43-101 compliant resource updates were completed. In January 2016, a preliminary economic assessment (PEA) was produced by TetraTech (Press release – January 26th, 2016).

Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Global Ltd and Bureau Veritas , with sample preparation carried out in Fairbanks and/or Juneau, Alaska, with subsequent analyses performed primarily using their Vancouver,  Reno and Hermosillo laboratories.

A sample quality control/quality assurance program was implemented.

Freegold is continuing to operate a full service camp at Golden Summit with stringent COVID-19 protocols in place.

The Qualified Person for this release is Alvin Jackson, PGeo – Vice President Exploration and Development for Freegold.

About Freegold Ventures Limited
Freegold is a TSX listed company focused on exploration in Alaska and holds through leases the Golden Summit Gold Project, near Fairbanks as well the Shorty Creek Copper –Gold Project near Livengood.

Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. The term “Mineral Resource” used above is defined per NI 43-101. Though Indicated Resources have been estimated for the Project, this PEA includes Inferred Mineral Resources that are too speculative for use in defining Reserves. Standalone economics have not been undertaken for the measured and indicated resources and as such no reserves have been estimated for the Project. Please note that the PEA is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would allow them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the price of mineral market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital. See Freegold’s Annual Information Form for the year ended December 31st, 2020 filed under Freegold’s profile at www.sedar.com for a detailed discussion of the risk factors associated with Freegold’s operations.  On January 30, 2020, the World Health Organization declared the COVID-19 outbreak a global health emergency. Many governments have likewise declared that the COVID-19outbreak in their jurisdictions constitutes an emergency. Reactions to the spread of COVID-19 have led to, among other things, significant restrictions on travel, business closures, quarantines and a general reduction in economic activity. While these effects are expected to be temporary, the duration of the business disruptions and related financial impact cannot be reasonably estimated at this time. Such public health crises can result in volatility and disruptions in the supply and demand for various products and services, global supply chains and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk and inflation. The risks to Freegold of such public health crises also include risks to employee health and safety and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. As a result of the COVID-19 outbreak, the Freegold has implemented a significant COVID management program and established a full service Camp at Golden Summit in order to attempt to mitigate risks to its employees, contractors and community. While the extent to which COVID-19 may impact the Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold’s business, results of operations and financial condition.

SOURCE Freegold Ventures Limited









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Archer Provides Exploration Update at the Caster Property and Amends Option Agreement

Archer Provides Exploration Update at the Caster Property and Amends Option Agreement
Canada NewsWire
VANCOUVER, BC, Oct. 21, 2021

(CSE: RCHR)
VANCOUVER, BC, Oct. 21, 2021 /CNW/ – Archer Exploration Corp. (CSE: RCHR) (“Archer” or the “Company”) i…

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Archer Provides Exploration Update at the Caster Property and Amends Option Agreement

Canada NewsWire

(CSE: RCHR)

VANCOUVER, BC, Oct. 21, 2021 /CNW/ – Archer Exploration Corp. (CSE: RCHR) (“Archer” or the “Company“) is pleased to announce that it has commenced field work to follow-up on high-grade rock-chip results from previous and historical exploration activities on the Caster property, located in the Lac Paul region of Quebec (the “Caster Property“). The Company is also pleased to announce that it has agreed to extend certain deadlines in the option agreement dated August 1, 2020 (the “Option Agreement“) between Geomap Exploration Inc. (the “Optionor“) and the Company, pursuant to which the Company has an option to earn a 100% interest in the Caster Property.

Highlights:

Grab sampling from Company reconnaissance prospecting has identified the following:

  • Massive magnetite and illmentie lenses and breccias identified associated with an anorthosite intrusive
    • Assays up to 0.56% V2O5 from grab sampling
    • Oxidised lenses traceable along northeast-southwest strike
    • Lenses appear stacked and dipping to the south-east
    • V2O5 anomalous (>0.10%) zones coincident with aeromagnetic features
  • Limited assaying indicates favourable concentration of V2O5 and Fe2O3 via magnetic separation (Davis Test), with beneficiation averaging 288% for vanadium oxide.
    • Notable titanium enrichment in non-magnetic component.
  • High grade phosphate in form of appetite correlated with vanadium mineralisation, assaying up to 6.71% P2O5.
  • To follow up on these very promising results the Company has planned a ground magnetic survey at the southwestern and eastern anomalies and the large northern magnetic area (Figure 1).

“We are very pleased to be getting back to the field to help define trenching and drilling targets on the two mineralised trends identified to date. We also plan to test the significant magnetic anomalies in the north. Critically the mineralisation has demonstrated that the vanadium and iron oxide grades can be significantly enhanced via magnetic separation, whilst titanium reports to the non-magnetic fraction and is also significantly enriched, which is very encouraging for future studies. The project is located just to the southwest of the advancing Lac Paul phosphate project, potentially opening up significant infrastructure synergies,” stated Mike Brown, CEO of Archer.  “Vanadium has a growing role in battery technology for storage and thus is a strategic metal. It’s an ideal time to have this type of project in Canada, with existing large high-grade mineralised targets and the potential for more discoveries through exploration and subsequent detailed work.”

The Caster Property

The Caster Property lies approximately 150km of the sea-port town of Saguenay and is accessible by sealed, gravel and forestry roads (Figure 2). The project lies within a region of growing importance for iron and vanadium exploration, with copper and nickel also reported. Previous reconnaissance work in 2018 returned grab samples grading up to 1.56% from gossanous outcrops. An aeromagnetic survey was flow in 2018 and shows two marked northeast trending magnetic highs in the southern west and eastern areas of the property, with large discrete anomalies in the central northern area (see Figure 1). The 2018 sampling was located on the eastern anomaly. Archer undertook initial field prospecting work in May 2021, focussing on the unsampled southwestern anomaly and the previously sampled eastern anomaly (Figure 1).

Figure 1: Rockchip sampling location, V2O5 geochemistry and interpreted mineralised lenses over aeromagnetic survey (total magnetic intensity). Two mineralised zones identified to date identified as SW Anomaly and Eastern Anomaly. (CNW Group/[nxtlink id=

Figure 2: Location of Caster Property, some 150km north of sea-port town of Saguenay. Immediately south of Lac Paul Phosphate project, which is in advanced development stage by [nxtlink id=

Southwestern Aeromagnetic Anomaly (SW anomaly)

Prospecting identified a number of northeast-southwest striking gossanous lenses coincident with the SW anomaly. These were traceable for up to 150m metres along strike, although cover and flora limit outcrop. A total of 38 rock grab samples were assayed. Results show strong association of V-Fe-Ti, which is typical for regional deposits within anorthosite intrusives. The aeromagnetic high associated with anomalous zones remains open to the NE, for a strike length of nearly 7km. This remains totally untested. The tenement boundary closes the interpreted mineralised envelopes to the SW (see Figure 1).

Selected Significant assays from SW Anomaly:

Sample_ID

V2O5

TiO2

Fe2O3_T

P2O5

%

%

%

%

W480056*

0.55

16.38

65.05

0.06

Q221338

0.54

17.6

66.51

2.42

Q221354

0.49

16.41

56.61

6.38

Q221356

0.49

14.93

57.68

0.07

Q221365

0.49

16.85

63.54

0.61

W480058*

0.47

19.19

64.03

0.02

Q221364

0.44

15.41

56.37

5.03

Q221336

0.4

17.95

55.22

0.27

Q221351

0.32

15.34

43.92

0.09

Q221330

0.27

11.07

46.78

0.17

Q221331

0.27

13.82

40.54

0.2

Q221369

0.26

12.66

35.96

0.21

Q221372

0.2

17.71

41.25

0.15

*

Samples taken by QP for the NI 43-101 Technical Report on the Caster Property, effective date of 22 November 2020 www.sedar.com

The Eastern Anomaly

The Eastern anomaly, identified by rock chip sampling in historic work by a previous owner in 2018, is coincident with a small NE-SW magnetic anomaly that appears part of a much larger NE-SW linear magnetic high, which is to the immediate west of the Eastern Anomaly (see Figure 1). The larger anomaly has not been sampled due to overburden and is approximately 4km in strike length.

A total of 22 rock chip samples were taken by Archer from this limited area, where oxidised gossanous lenses and breccias within weathered intrusive were observed. The massive magnetite/ilmenite mineralisation was also associated with quartz veining.

Selected significant assays from the Eastern Anomaly:

Sample_ID

V2O5

TiO2

Fe2O3_T

P2O5

95558**

1.56

6.9

24.3

10.1

95610**

0.58

19.2

64.7

0.14

95596**

0.54

17.9

69

0.08

95553**

0.52

18.8

68.8

0.14

95554**

0.52

18.4

69.9

0.09

95555**

0.52

17.1

67.4

0.02

Q221301

0.52

18.1

68.75

0.34

Q221306

0.52

17.48

69.75

0.04

Q221315

0.51

19.2

66.34

0.27

95556**

0.5

16

64.6

0.03

95627**

0.48

17.1

62.6

0.58

95623**

0.47

17.2

57.5

1.02

95592**

0.46

16

65.9

0.2

95621**

0.45

15

61.3

0.26

95557**

0.43

16.4

61.2

0.48

Q221304

0.37

19.16

50.2

0.81

W480059*

0.34

18.41

47.36

0.06

95609**

0.2

7.86

30.5

0.97

Q221320

0.2

13.51

38.53

0.23

*

Samples taken by QP for the NI 43-101 Technical Report on the Caster Property, effective date of 22 November 2020 (www.sedar.com)

**

Samples taken in 2018 by previous owner, as reported in NI 43-101 Technical Report on the Caster Property, effective date of 22 November 2020 (www.sedar.com) – without supporting assay certificates and are shown for indicative purposes only.

Metallurgy

A total of nine samples were selected for magnetic separation (Davis Test) to test general response of the samples to beneficiation via magnetic separation. The results of these were very encouraging, demonstrating the potential for significant enrichment of iron oxide and vanadium oxide via simple magnetic separation. Enrichment of titanium oxide within the non-magnetic fraction of the samples indicates the potential for multiple metal credits from both fractions of the separation.

Av. grade of samples (%)

Av. grade of magnetic fraction (%)

Gain from beneficiation

V2O5

0.26

1.01

288%

Fe2O3

40.89

87.32

114%

Av. grade of sample (%)

Av. grade of non-magnetic fraction (%)

Gain from benefaction

TiO2

15.56

20.52

32%

Upcoming Fieldwork

A ground magnetic survey at 100m spacing is planned to be conducted at the SW and Eastern anomalies and the large northern magnetic area. This is expected to assist in mapping out magnetic bodies, with widespread overburden present. Results will be used for planning for future trenching and drill target generation. Rock chip prospecting of the unsampled northern anomalous area is also planned, subject to snow cover. The program is expected to take 3-4 weeks.

Amendments to Option Agreement

The Company and the Optionor have amended the Option Agreement as follows: (a) the deadline by which the Company must pay $50,000 to the Optionor has been extended from the 12-month anniversary of the Company’s listing date (the “Listing Date“) to May 31, 2022; and (b) the deadline by which the Company must issue 250,000 shares to the Optionor has been extended from the 12-month anniversary of the Listing Date to May 31, 2022. Pursuant to the Option Agreement, the Company is required to incur expenditures on the Caster Property of $110,000 on or before the 12-month anniversary of the Listing Date.

Stock Option Grant

The Company also announces that it has granted 1,500,000 incentive stock options to certain directors, officers, and consultants of the Company. The incentive stock options will vest over a period of three years, have an exercise price of $0.51 per share, and are valid for a 5-year period from the date of grant.  The options were issued pursuant to the Company’s incentive stock option plan and are subject to regulatory approval.

QA/QC

A total of 60 rock samples were collected during fieldwork for 2021 for assaying. Each sample consisted of 0.3-2 kg rock material placed in a heavy grade plastic sample bag with the sample number written with permanent marker. Each sample bag was then sealed with a plastic cable tie and were recorded as to location (UTM -NAD 83), sample type, exposure type (outcrop, rubblecrop, float, etc.), lithology, and magnetic intensity (high, medium, low or null). Sample locations were determined by hand-held GPS set to report locations in UTM coordinates using the North American Datum established in 1983 (NAD 83) Zone 19N. The samples were bagged and tagged using best practices and were shipped to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses using laboratories code: Iron Ore Code 8, and Davis Tube (DTT) Magnetic Separation. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.  

For the samples collected by the Qualified Person for preparation of the NI 43-101 Technical Report on the Caster Property, effective date of 22 November 2020 the following QA/QC was reported.

Six samples were taken by the author and sent to ALS Global’s Val D’Or Geochemistry Laboratory. These samples were also pulverized, to 75μm and then analyzed using MC-ICP61 for ICP-MS results and MC-ICP06 to get whole rock characterization of the material. The samples placed in plastic sample bags with identifying Tyvek tags provided by the lab to identify each sample. The sample bags were then individually sealed and then sealed with work order in a “rice sack” and shipped via Canada Post to the lab. Upon receipt there was no indication that any of the samples had been tampered with.

The analytical protocols used at ALS Chemex were the ME-ICP61 for Trace Elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, U, V, W, Zn); ME-ICP06 for Major Elements as Oxides Fe2O3, TiO2, V2O5 (Al2O3, BaO, CaO, Cr2O3, K2O, MgO, MnO, Na2O, SiO2 and SrO); Loss on Ignition (LOI’s) at 1,000°C; TOT-ICP06 for Total Calculations of Major Elements.

All samples received at ALS Minerals were digitally inventoried using a bar-code and then weighed. Samples having excess humidity were dried. Sample material was crushed in a jaw and/or roll crusher to 70% passing 9 mesh. The crushed material was split with a rifle splitter to obtain a 250 g sub-sample which was then pulverised to 85% passing 200 mesh using a single component (flying disk) or a two component (ring and puck) ring mill. 

Qualified Person

The Company’s disclosure of technical or scientific information in this press release has been reviewed and approved by Michael Brown, MAIG, Chief Executive Officer for Archer Exploration Corp.  Mr. Brown is a Qualified Person as defined under the terms of National Instrument 43-101.

About Archer Exploration

The Company is focusing electric metals projects, which include copper, cobalt, nickel and vanadium. The future demand for these metals is seen as extremely robust, with supply facing a number of significant constraints. The Company is advancing on exploration of its Caster project in Quebec, where airborne geophysics has identified significant anomalies with historical sampling indicating significant vanadium, titanium and iron potential (see Technical Report (NI 43-101) on the Caster Property, filed on Sedar.com on November 27, 2020). The Company is also advancing its potential acquisition of the Zanzui Nickel Project in Tanzania and evaluating other projects.

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

Forward Looking Information

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

SOURCE Archer Exploration Corp





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