TORONTO, ON / ACCESSWIRE / September 27, 2021 /(“Gratomic”, “GRAT” or the “Company”) ( )(OTCQX:CBULF)(Frankfurt:CB82) announces the commencement of wet commissioning (Stage C4), The Company has started running material through the crushing circuit in preparation of full commissioning of its Aukam processing plant. The entire Gratomic Executive team was present for this significant milestone and witnessed the equipment operating as it was engineered to perform.
The following is the detailed explanation of the C4 wet commissioning phase:
- Check site-wide systems are fully operational
- Confirm operator technicians trained and able to run commissioning
- Check as-built document complete
- Confirm Operations and Maintenance manuals available in draft form
“Our team at Aukam continues to excel,” said Arno Brand, CEO & President, “The progress on the project advances at an exceptional rate and the Gratomic team has easily surmounted any potential obstacles that have arisen at the project over the previous months.”
Assembly continues on the material thickener tank, see HERE for corresponding press release dated September 7th, 2021. The unit is currently going through its final assembly. Additionally, the Company has reduced its water cost by 50% through collaboration with local communities in the immediate Aukam area and water demand on site is currently fully met by supply. Upon completion, the plant will sustain over 1,000,000 liters of water storage. Included in this total is water storage, process water, and water recycling (as indicated in its press release dated November 9, 2020, Gratomic will recycle approximately 95% of the water in the system). See HERE to view the press release. This is sufficient storage to sustain operations once the plant is fully commissioned.
The plumbing, electrical and air compressor circuits for the three mixing tanks and vertical columns are currently under assembly. Once these components are installed, water will be introduced into these units for testing and calibration. The product thickener tank, which was assembled in April of 2021, will be filled to a 70% capacity in preparation for the next stage. The completion of the material thickener tank, the delivery of the twelve additional mixing tanks and nine additional flotation columns (see press release dated September 7th, 2021), will bring the flotation circuit into the final stage of C4 wet commissioning.
Final assembly of the plumbing and electrical circuits to the press filter are in the final connection phase. Conveyor B has been installed, with the catwalks and stairways completed. The custom-built material chipper and hopper has been completed and mounted above the rotary drier, which was installed and assembled in April of this year.
The crushing circuit has moved into the wet commissioning phase. From here, the circuit will undergo comprehensive calibration on all systems and will be fitted with custom enclosures to secure the preservation of graphite fines throughout the crushing process. The calibration phase is an extremely important step in the commissioning process, it requires ample time and attention to be carried out effectively to ensure optimal future performance of the cycle.
“The Gratomic team has been working very hard during the construction phases and is proud to have reached wet commissioning. This brings the Company into the forefront of the final transition from a junior exploration company into a development company,” says Armando Farhate, COO & Head of Graphite Marketing and Sales.
Click HERE for video footage of wet commissioning.
Gratomic wishes to emphasize that no Preliminary Economic Analysis, Preliminary Feasibility Study or Feasibility Study has been completed to support any level of production. In fact, no mineral resources let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam property.
The Company is working towards completing a Preliminary Feasibility Study (PFS) on the Aukam Processing plant. The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendation at a PFS level of comfort relating to the scale up of the existing processing plant to a commercial scale processing facility capable of producing the desired concentrate grades and production rates.
Gratomic wishes to emphasize that the supply of graphite is conditional on Gratomic being able to bring the Aukam project into a production phase, and for any graphite being produced to meet certain technical and mineralization requirements. Gratomic continues to move its business towards production and as part of its business plan, expects to file a National Instrument 43-101 Standards of Disclosure for Mineral Projects resource estimate in Q1 2022.
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant until the PFS is completed.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a PFS or feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability.
Steve Gray, P. Geo. has reviewed and approved the scientific and technical information in this press release and is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Gratomic is focused on introducing an exceptional anode material to the global electric vehicle and energy storage supply chains. True to its roots as an exploration and mining company, Gratomic aims to achieve full operational capabilities in 2021 on its Aukam Graphite Project and continues to diversify its assets into a multi-national company with various projects globally. Large quantities of its naturally high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the results will provide a unique competitive advantage in its desired target markets.
The Company’s recent collaboration agreement with Forge Nano has advanced the developments on its graphite finalization phase for the micronization, spheronization, and the patented ALD coating of its Aukam vein graphite for use in lithium-ion batteries. Forge Nano is a global leader in surface engineering and precision nano-coating technology, using Atomic Layer Deposition.
GRAT has two outstanding off-take purchase agreements with TODAQ and Phu Sumika with contract fulfillment slated to begin in 2021. Gratomic plans to deliver mine-to-market traceability through its partnership with deeptech company TODAQ by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at [email protected] or 416 561- 4095
Subscribe at gratomic.ca/contact/ to be added to our email list.
“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.”
Forward Looking Statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
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Stellar Africagold Samples 3.40 G/T Au over 20 Metres Confirming Gold Discovery at Tichka Est Project, Morocco
Montreal, October 25, 2021– TheNewswire – J. François Lalonde, President and CEO of Stellar AfricaGold Inc., (TSXV:SPX) ("Stellar" or the "Company")…
Montreal, October 25, 2021– TheNewswire – J. François Lalonde, President and CEO of , ( ) (“Stellar” or the “Company”) is pleased to announce that the second trenching program on the Zones B and A gold structures of its Tichka Est project in the High Atlas region confirms that Stellar has a discovery in the High Atlas region of Morocco.
Summary of Results
Stellar successfully completed a second 10-trench surface sampling program extending the mineralized strike of both the Zones B and A gold structures on its 90% earn-in Tichka Est gold project in Morocco. The trenching program, which totalled 200 linear metres, yielded intervals in Zone B as high as 3.40 g/t Au over 20 meters including internals of 5.23 g/t Au over 11 meters and 8.14 g/t Au over 5 meters in Trench 7B, 4.64 g/t Au over 14 meters including 11.16 g/t Au over 5 meters in Trench 9B, and 3.4 g/t Au over 17 meters including 9.55 g/t Au over 4 meters in Trench 6B. This second trenching program builds upon Stellar’s previous program (see news release April 19, 2021) which yielded intervals up to 4.55 g/t Au over 15 meters including an internal of 7.47 g/t Au over 6.0 meters in Zone B, and 3.36 g/t Au over 10 meters including an interval of 8.73 g/t Au over 3.0 meters in Zone A.
The Zone B structure has been mapped at surface for a strike length of over 2 km of which 750 meters has been trenched and channel sampled. The Zone A structure has been mapped for over 500 meters along strike of which 450 meters has been trenched and channel sampled.
About the Tichka Est Project, Morocco
The Tichka Est property is comprised of three contiguous permits covering an area of 44.6 km2 within the High Atlas Western Domain approximately 100 km SSW of the city of Marrakech. The general area is accessible year-round by road via a national road to the village of Analghi located near the mineralized gold zone. Stellar is awaiting permits for construction of a heavy equipment access road to proposed drill sites at Zones B and A.
Details of the Second Trenching Program
This second trenching program was designed to provide a better understanding of the geological and structural nature of the Zone B and A structures and to confirm the lateral extension of the two previously identified highly metamorphosed gold mineralized shear zones. The trenches were dug to an average depth of 1.5 meters and over lengths of 15 to 25 meters depending upon the visible width of the structure at that point. Seven trenches were dug across the Zone B structure and two across the Zone A structure. One trench was dug in another area of interest outside of the Zones B and A structures.
Map 1 – Aerial View of the Zones B and A Trenching Program
A portion of the two-kilometer plus surface exposure of Zone B has now been investigated by two trenching programs. A total of 12 trenches were dug by teams using hand tools down to a depth of 1.5 meters. There, fresh rock exposures were channel sampled across one-meter intervals using a rock saw for a better conformity of the samples (See figure 1 below). In this recent trenching program, seven trenches were dug across the Zone B mineralized structure which extended the trenched gold-mineralized zone to over 750 meters of strike length trending Northeast to Southwest.
Figure 1 – Zone B – Oxidized gold mineralization in trench 7B
The Zone B gold mineralized structure is oriented N800 and located along the contact of a limestone and a schist. The contact is highly sheared and injected by quartz-ankerite-calcite veins and veinlets with trace of sulphide, pyrite, chalcopyrite and arsenopyrite to which the gold mineralization is closely associated. Within the 750-meter trenched mineralized zone the best results appear to be on the Northeastern end of Zone B. The highest assay results, which were obtained in trenches T6B, T7B and T9B, and are listed below.
Trench 6B – 3.4 g/t Au over 17 meters including 9.55 g/t Au over 4 meters.
Trench 7B – 3.40 g/t Au over 20 meters including 5.23 g/t Au over 11 meters and 8.14 g/t Au over 5 meters. Note also that Trench 7B is mineralised over its entire 20-meter length and that the width of the mineralised Zone B structure exceeds the trench length at that location.
Trench T9B – 4.64 g/t Au over 14 meters including 11.16 g/t Au over 5 meters
Zone A is a N3500 trending structure. During this program two new trenches were dug to confirm the northern extension of the structure. The two new trenches successfully confirmed the northern extension of the zone for an additional 125 meters increasing the confirmed gold-mineralized Zone A to approximately 450 meters along strike. In Zone A the mineralisation is in a shear zone at the contact of a dolerite dyke and a schist unit. The sheared zone is also injected by quartz-ankerite veins and veinlets.
Figure 3 – Zone A – Quartz and ankerite mineralization in trench 5A
The highest assay results in Zone A were obtained in trenches T5A and T6A are listed as follow.
T5A – 1.85 g/t Au over 8.0 meters including 3.55 g/t Au over 3 meters
T6A – 2.70 g/t Au over 5.0 meters including 3.71 g/t Au over 3 meters
Figure 4 – Zone A geological cross section of trench 5A
Technical Information and Quality Control Notes
The trenches were excavated across the Zones A and B structures using hand tools to an average depth of 1.5 metres. The trenches were mapped at a scale of 1:100 and channeled sampled at 1 metre intervals using a mechanical rock saw for a better sample accuracy as recommended in Stellar’s Technical Report of November 15, 2020.
Sample collection was done by two experienced senior local geologists under the supervision of Yassine Belakbir, Stellar’s Director in Morocco and by Dr. Ali Saquaque, Stellar’s Technical Advisor for Africa. The samples were bagged at the sampling site and stored in safe areas until being transported to African Laboratory for Mining and Environment (“Afrilab”) in Marrakech for analysis.
200 samples were sent to Afrilab for this program. In addition, for the purpose of quality control, 7 standard, 7 duplicate and 7 blank samples were added to the batch and, except for one duplicate that is showing a probable nugget effect, all standard analysis results fall within the tolerance range of the original samples. The blank sample values were all below the detection limit for gold.
In conclusion, the second Tichka Est trenching program of the Zone A and B structures extended the mineralized strike lengths of both zones and successfully outlined wider gold mineralization with some high-grade intersections of considerable widths confirming Stellar’s gold discovery in Morocco. The gold is associated with injected quartz-carbonate veins in highly brecciated sheared structures context. The results fully justify the drill program currently in preparation beginning on the Zone B structure and progressing to the Zone A structure thereafter.
Additionally, this program provided Stellar with valuable geological information which will facilitate the exploration of other areas of interest within the Tichka Est Permits area.
About Tichka Est Project
The Tichka Est property is comprised of three contiguous prospecting permits covering an area of 44.6 km2. The Tichka Est Property lies within the High Atlas Western Domain about 100 km SSW of the city of Marrakech. The area is accessible year-round by road via a national road to the village of Analghi located near the mineralized gold zone.
Stellar AfricaGold Inc. is a Canadian gold company with offices in Vancouver, BC and in Montreal, QC. Stellar President François Lalonde can be contacted at 514-992-0929 or by email at [email protected].
The technical content of this press release has been reviewed and approved by M. Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.
On Behalf of the Board
J. François Lalonde
President & CEO
This release contains certain “forward-looking information” under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.
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.
Copyright (c) 2021 TheNewswire – All rights reserved.
West High Yield (W.H.Y.) Resources Ltd. Announces Grant of Stock Options
Calgary, Alberta–(Newsfile Corp. – October 22, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces…
Calgary, Alberta–(Newsfile Corp. – October 22, 2021) –( ) (“West High Yield” or the “Company“) announces that its board of directors has approved and authorized the grant of 350,000 stock options (the “Options“) to a consultant of the Company effective October 21, 2021. The Options are granted in accordance with the terms of the stock option plan of the Company. All of the Options vest on their date of grant and every one (1) Option entitles the holder thereof to purchase one (1) common share of the Company at a price of CAD$0.34 per common share for a period of five (5) years from the Option grant date.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: [email protected]
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100621
Scorpio Gold – Arranges Short-Term Credit Facility with Board
VANCOUVER, BC / ACCESSWIRE / October 22, 2021 / Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V:SGN) reports that certain of the directors…
VANCOUVER, BC / ACCESSWIRE / October 22, 2021 /(“Scorpio Gold” or the “Company”) ( ) reports that certain of the directors of the Company have agreed to provide the Company with a short- term credit facility in order to maintain its operations over the short-term. The proceeds of the advances made under the credit facility will be used to bridge the Company’s activities until all Goldwedge assays have been announced so that an equity placement can be conducted later in the year.
As announced on September 29, 2021, the pending assays from the Goldwedge underground drill program will be announced upon receipt and analysis. The drill program was focused on defining the on-strike and down-dip continuity of mineralization intersected in the 2020 drilling program (July 27, 2020 news release) as well as testing new areas with the potential to define a mineral resource base.
Future drilling will test the Company’s structural interpretation that mineralization at Goldwedge could connect with mineralization in the West Pit area of the Company’s adjacent and proximal Manhattan Mine project. Goldwedge is a fully permitted underground mine and a 400 ton per day mill facility. The Manhattan Property includes 2 former producing mines, the Reliance Mine, which reportedly produced ~59,000 tons grading 0.435 oz/ton from 1932 to 1941, and the Manhattan Mine East and West pits, which produced ~236,000 oz. from 1974-1990. The deposits lie along the northwest-trending Reliance StructuralZone, which is considered the most predominant ore controlling structure in the region. The Reliance trend continues 4 km southeast to Scorpio Gold’s Keystone-Jumbo project area.
The credit facility is unsecured and interest free for US$500,000 to be drawn in advances at a minimum of US$100,000 over the next few months. All advances must be repaid within the earlier of Scorpio Gold closing a private placement more than C$1,000,000 and January 1, 2022.
ON BEHALF OF THE BOARD
Chief Executive Officer
Tel: (604) 889-2543
Email: [email protected]
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.
The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration of its Goldwedge and Manhattan mines project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks involved in mineral exploration programs and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made 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. Forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.
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