SODANKYLÄ, FINLAND / ACCESSWIRE / August 17, 2021 / FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF)("FireFox" or the "Company") is pleased to announce that it has extended the drill-indicated gold system by an additional 650 metres along trend from the Northeast Target at its 100%-owned Mustajärvi Project in the Central Lapland Gold Belt of Finland (See Figure 1: https://bit.ly/3skzPqJ). Drill hole 21MJ004 was drilled 654 metres northeast of the previously reported bonanza-grade hole 21MJ001 (see Company news release dated June 17, 2021) and yielded 2.9 metres at 1.30 g/t gold. Drill hole 21MJ005, which was collared 580 metres from 21MJ001, returned 3.79 g/t gold over a 1 metre interval from 15m downhole, sitting atop a wider zone of weakly anomalous gold.
Key Implications from the Newest Mustajärvi Results Include:
- New gold mineralization revealed along the probable continuation of the shear zone delineates a stretch of more than 2.1 kilometers with gold-bearing drill intercepts;
- Quartz-carbonate-tourmaline-pyrite veins at new East Target are lower grade (so far) but consistent in mineralogy and geochemistry with high grade veins at Central Zone & Northeast Targets;
- The veins have variable continuity, but the larger and more sulfide-rich veins have been intersected in four drill holes (21MJ001, 21MJ002, 21MJ006, and 21MJ010) and appear to become higher grade with depth;
- Predictive 3D modeling of dilational jogs along the Mustajärvi Shear Zone continues to yield altered country rock and significant gold in drilling, even while exploring beneath overburden; and
- Geophysics and 3D modeling of the results indicate multiple untested targets in the vicinity of the Northeast and East Targets - another sizable drill program is planned for winter of 2021 - 2022.
"These two holes were the first to test for mineralization in this newly modeled part of the shear zone, so we are very excited to confirm new gold intercepts with similar alteration, vein mineralogy, and geochemistry to the established high-grade areas in the Central Zone and the Northeast Target. These first gold hits at the East Target are important because we know that persistence and hard work yielded bonanza grade intercepts at both the Central and Northeast Targets. Adding these new targets to the close step-outs planned around 21MJ001, we have some incredible targets lined up for the fall and winter drill program, which is fully funded," commented Carl Löfberg, President and CEO of FireFox.
In addition to the East Target holes, drill hole 21MJ006 was collared 170 metres northwest from 21MJ001, along the same drill section of the Northeast Target. It appears to have been successful in intersecting the lower grade up-dip continuation of the vein system that contained the bonanza grade, here averaging 3.0 metres of 1.31 g/t gold. Also reported herein is hole 21MJ007, which targeted interpreted structures within the gabbro on the western end of the property, but for which no significant gold results were received.
The individual veins encountered in the northeast part of the project have variable continuity, but some have been intersected along strike for more than 70 metres. The vein system hosting bonanza-grade gold that was intercepted in 21MJ001 also appears to have been intercepted down-dip in 21MJ010 (for which assays are pending). These gold-bearing veins occur in swarms with potential for expansion along strike and at depth. In addition to 21MJ010, analytical results and geological interpretations are pending for three additional holes, 21MJ008, 21MJ009 and 21MJ011.
Mustajärvi Project and Drill Program Details
The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometers east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall and host most of the known mineralization, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite - sericite alteration in the footwall along more than two kilometers of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled less than 7,000 metres to date.
FireFox has developed a structural model that has identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. The main areas of mineralization, so far, are the Central Zone and the Northeast Target, both of which host bonanza grade gold associated with clusters of veins in the footwall of the shear zone but are separated by more than 500 metres. Including drill intercepts southwest of the Central Zone and extending through the Northeast Target, the MSZ hosts high-grade (>5 g/t) gold in arrays of narrow quartz veins along a corridor of more than 1.5 kilometers. The FireFox team predicted another dilatant zone with similar characteristics 500 to 600 metres farther northeast from the Northeast Target (See Figure 2: https://bit.ly/382lHsV). Drill holes 21MJ004 and 21MJ005 were the first holes to test this area and the results confirm this zone as a new and additional zone of gold mineralization (the East Target) - extending the favorable trend to more than 2.1 kilometers.
The Central Zone and Northeast Target have been tested by several programs since 2018 that have expanded the lateral extent of known mineralization in multiple directions. The Northeast Target returned the best intercepts in both the 2019 and 2020 drill programs, including bonanza grades in the first hole of this Phase 4 program. The initial success at the East Target has prompted planning for considerable new work.
Drill hole 21MJ004 was collared in a structural block interpreted to host the continuation of the MSZ and was directed to the northwest. The hole appears to initiate in Sodankylä Group metasedimentary rocks, variably altered intermediate tuffites, and did not pass through a major lithologic contact with mafic volcanics. The gold mineralization was hosted within an intensively deformed interval that included abundant hematite and quartz-carbonate-tourmaline-pyrite (QCTP) veining at 150.35 to 153.25 metres down hole. The 2.9-metre interval averaged 1.30 g/t gold with a few additional metres of weakly anomalous gold below. There are also several broader intervals of weakly anomalous gold higher up in the hole. The veins encountered in drill hole 21MJ004 have a similar composition to the QCTP veins noted in the Northeast Target, but hematite is notably more abundant at the East Target.
Hole 21MJ005 was collared very close to an interpreted trace of the shear zone. The hole intercepted shallow mineralization within intensively altered intermediate tuffites, where the highest gold grades were encountered at 15 to 16 metres down hole, yielding 3.79 g/t gold. Elevated gold values expanded the anomalous zone down hole to 28.4 metres, including several samples with 0.32 to 0.75 g/t Au. The shallow mineralization encountered in hole 21MJ005 was associated with breccias and QCTP veins and abundant hematite.
Drill hole 21MJ006 was drilled along the same northwest drill fence that includes 21MJ001 and 21MJ010. It was targeted on a base of till (BOT) gold anomaly and expected to test for the up-dip continuation of the vein system with visible gold reported in 21MJ001. The hole intercepted a 3-metre interval of thin QCTP veins at the approximate location where the bonanza vein was projected to occur. This 3-metre zone from 56 to 59 metres downhole averaged 1.31 g/t gold. There are numerous other narrow quartz-carbonate and quartz-tourmaline veins cutting through the altered tuffites in this hole associated with several intervals of weakly anomalous gold, including samples with 0.32 to 0.69 g/t.
Drillhole 21MJ007 was one of the first drill tests of geochemical and geophysical anomalies associated with the gabbro near the west end of the property. It was collared more than 1.5 kilometers west of the Northeast Target. While no significant gold has been encountered yet in the gabbro, the lower third of the hole encountered pervasive strong albitization.
FireFox geologists report that the three zones now known to host significant gold at Mustajärvi are quite comparable in their lithology, alteration, vein mineralogy, geochemisty, and their structural architecture. The interpreted dilational jogs correlate well with magnetic lows (Figure 2), and it is noteworthy that the strongest magnetic lows in the East Target (northeast of 21MJ004) have not yet been tested. A preliminary mineralogical report on the Northeast and East Target gold intercepts reveals that gold occurs both as free gold and as inclusions in pyrite and hematite. The Mustajärvi gold system continues to be consistently enriched in bismuth, tellurium, and cobalt, but the ongoing data compilation is highlighting many other geochemical features that may be useful pathfinder elements to help vector towards stronger gold mineralization. The team is also planning an induced polarization/resistivity (IP) survey over the Northeast and East Targets, as the pyrite-rich mineralization should generate strong anomalies. Combined with mapping and three-dimensional modeling, the new data are expected to yield more strong drill targets for the fall and winter drilling.
The table below summarizes the location information for these drill holes.
Table 1: Collar Information
Final Depth (m)
The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox's exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. FireFox geologists maintained chain of custody and sampling procedures according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.
FireFox team members transported the samples to an ALS sample prep lab in Sodankylä. The samples were first crushed to -2 mm, split and pulverized into 1kg pulps, before being shipped to a facility in Ireland for gold by fire assay of 50 gm aliquots with AAS finish (method Au-AA24). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61).
ALS Laboratories is a leading international provider of assay and analytical data to the mining industry. All ALS geochemical hub laboratories, including the Irish facility, are accredited to ISO/IEC 17025:2017 for specific analytical procedures. The FireFox QA/QC program includes the insertion of certificated standard material and blanks into the analytical batches, and none of the analytical control samples in these reports showed deviations from recommended values.
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and approves, the technical information in this news release.
About FireFox Gold Corp.
FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. FireFox also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has been exploring for gold in Finland since 2017 where it holds a project portfolio that includes over 80,000 hectares of prospective ground.
Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.
For more information, please refer to the Company's website and profile on the SEDAR website at www.sedar.com.
On behalf of the Board of Directors,
Chief Executive Officer
Forward Looking Statements
The information herein contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: the receipt of the assay results, changes in world commodity markets, equity markets, the extent of work stoppage and economic impacts that may result from the COVID 19 virus, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry.
Forward-looking statements in this release may include statements regarding: the intent to conduct additional geophysics and drilling, expectations for the receipt of assays on samples already submitted to the lab; the belief as to the location of the most prospective gold targets; the location of possible new targets for the 2021 - 2022 drill program; the current and future work program, including the extent and nature of exploration to be conducted in 2021 - 2022; and the potential expansion of the same and the significance of the most intense mineralization occurring at depths below previous drilling at the Northeast Target. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary.
The forward-looking statements contained herein represent the expectations of FireFox as of the date of dissemination and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any particular time except as required in accordance with applicable laws.
SOURCE: FireFox Gold Corp
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UEX Repays Loan From Denison
Saskatoon, Saskatchewan – TheNewswire – September 17, 2021 – UEX Corporation (TSX:UEX) (OTC:UEXCF) (“UEX” or the “Company”) is pleased…
Saskatoon, Saskatchewan – TheNewswire - September 17, 2021 – UEX Corporation (TSX:UEX) (OTC:UEXCF) (“UEX” or the “Company”) is pleased to announce that the Company has repaid its outstanding term loan (the “Term Loan”) from Denison Mines Corp. (“Denison”). The Term Loan was used by UEX to purchase JCU (Canada) Exploration Company, Limited (“JCU”), as more particularly described in UEX’s news release dated August 3, 2021.
UEX repaid the outstanding balance of C$20.45 million to Denison on September 17, 2021. Previously, C$20.5 million of the Term Loan was repaid upon UEX transferring 50% of the JCU shares to Denison immediately following the closing of the JCU acquisition (see UEX’s news release dated August 3, 2021). The shares of JCU owned by UEX that were pledged as security to Denison have been released to UEX.
UEX is a Canadian uranium and cobalt exploration and development company involved in an exceptional portfolio of uranium projects.
UEX’s directly-owned portfolio of projects is located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt which in 2020 accounted for approximately 8.1% of the global primary uranium production. In addition to advancing its uranium development projects through its ownership interest in JCU, UEX is currently advancing several other uranium deposits in the Athabasca Basin which include the Paul Bay, Ken Pen and Ōrora deposits at the Christie Lake Project , the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project, the Horseshoe and Raven deposits located on its 100%-owned Horseshoe-Raven Development Project and the West Bear Uranium Deposit located at its 100%-owned West Bear Project.
UEX is also 50:50 co-owner of JCU with Denison. JCU’s portfolio of projects includes interests in some of Canada’s key future uranium development projects, notably a 30.099% interest in Cameco’s Millennium Uranium Development Project, a 10% interest in Denison Mines Wheeler River Project, and a 33.8123% interest in Orano Canada’s Kiggavik Project, located in the Thelon Basin in Nunavut, as well as minority interests in nine other grassroots uranium projects in the Athabasca Basin.
UEX is also leading the discovery of cobalt in Canada, with three cobalt-nickel exploration projects located in the Athabasca Basin of northern Saskatchewan, including the only primary cobalt deposit in Canada. The 100% owned West Bear Project hosts the West Bear Cobalt-Nickel Deposit, the newly discovered Michael Lake Co-Ni Zone, and the West Bear Uranium Deposit. UEX also owns 100% of two early-stage cobalt exploration projects, the Axis Lake and Key West Projects.
FOR FURTHER INFORMATION PLEASE CONTACT
President & CEO
This news release contains statements that constitute "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information is based on a number of assumptions, which may prove to be incorrect. The actual results could differ materially from those anticipated in such forward-looking information as a result of the risk factors including: the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking information. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Copyright (c) 2021 TheNewswire - All rights reserved.drilling tsx-uex uex-corporation acquisition press-release
American Manganese Files Final Prospectus and Amended Disclosure Documents
VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce…
VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce that the Company has filed on SEDAR (www.sedar.com) its final short form base shelf prospectus and an amended technical report (the "Amended Technical Report") for its Rocher Deboule mineral property (the "Property"). The Company has also filed and an amended annual information form for the year ended July 31, 2020 (the "Amended AIF").
As a result of a prospectus review by the British Columbia Securities Commission, certain revisions were made to the technical report for the Property which was originally published on October 25, 2020. The Amended Technical Report contains no material differences to the original technical report for the Rocher Deboule Project. The Amended AIF incorporates the executive summary from the Amended Technical Report and is thus accordingly amended; it contains no material differences from the original annual information form filed on June 8, 2021.
About American Manganese Inc.
American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.
For more information, please contact:
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
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. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.
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Erin Ventures Announces Proposed Private Placement
VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the…
VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the TSX Venture Exchange (the "TSXV"), it intends to complete a private placement offering of up to 6,666,667 units of the Company ("Units") at a price of $0.075 per Unit for gross proceeds of approximately $500,000 (the "Offering").
Each Unit in this Offering will be comprised of one (1) common share in the capital of the Company (a "Share") and one (1) common share purchase warrant (each, a "Warrant"). Each Warrant will have a two (2) year term and will be exercisable into one (1) Share at a price of $0.10.
The Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price of $0.15 for more than ten (10) consecutive trading days during the Exercise Period, Erin shall have the right to give written notice to the holder requiring the holder to exercise the Warrant, in whole or in part, within a period of thirty (30) days from the date of receipt of notice from Erin.
The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation. The Private Placement remains subject to the approval of the TSXV.
The net proceeds from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV" and the OTCQB Venture Market under the symbol "ERVFF". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.
Erin's Public Quotations
TSX Venture: EV
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.
Forward Looking Statements:
This release contains forward looking statements. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.
SOURCE: Erin Ventures Inc.
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