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Galway Metals Gap Drilling Intersects 1.3 g/t Au over 41.15m and 18.8 g/t Au over 6.0m, Closing Gap Between GMZ and Richard Zones

TORONTO, ON / ACCESSWIRE / November 18, 2021 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to report full and partial…

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TORONTO, ON / ACCESSWIRE / November 18, 2021 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the “Company” or “Galway”) is pleased to report full and partial assay results from numerous drill holes in the center of, and along either side of, the remaining 400m gap between the Richard and George Murphy Zones (GMZ) at the Company’s Clarence Stream gold project in southwest New Brunswick, Canada (Figure 1 and Figure 2).

Highlights in the Centre of the 400m Gap Include:

  • Hole 189: 1.3 grams per tonne (g/t) Au over 41.15 metres (m), including 9.3 g/t Au over 1.0m, 3.9 g/t Au over 1.0m, 3.9 g/t Au over 1.0m, and 4.0 g/t Au over 0.85m, starting at a vertical depth of 199m
  • Hole 185: 1.4 g/t Au over 13.5m, including 8.5 g/t Au over 1.0m, and 6.4 g/t Au over 1.0m, plus 1.2 g/t Au over 9.0m, including 7.0 g/t Au over 1.0m, plus 0.8 g/t Au over 13.0m, including 4.8 g/t Au over 1.0m, plus 1.3 g/t Au over 5.0m, including 4.4 g/t Au over 0.5m, plus 1.0 g/t Au over 5.0m, starting at vertical depths of 227m, 85m, 192m, 29m and 170m, respectively

“Galway has now essentially connected a total of 3 kilometers of mineralization comprising the Adrian, GMZ, Richard and Jubilee Zones. These zones, as well as the South and North Zones, remain open for expansion, have great grade and continuity and will be included in the upcoming resource estimate update slated for December 2021,” says Robert Hinchcliffe, President and CEO of Galway Metals, “With the gold markets seemingly gaining traction, we look forward to an exciting 2022 where our drilling program will be focused on making new discoveries, following up on recent discoveries and expanding existing zones. In short, we remain optimistic as results continue to demonstrate that Clarence Stream is an important new gold district in North America.”

Highlights Along the West Edge of the Gap Include:

  • Hole 186: 18.8 g/t Au over 6.0m, including 85.3 g/t Au over 1.0m, plus 1.5 g/t Au over 8.5m, including 3.3 g/t Au over 1.5m, starting at vertical depths of 49m and 73m, respectively
  • Hole 171: 2.0 g/t Au over 17.6m, including 10.3 g/t Au over 1.0m, 8.9 g/t Au over 1.0m, and 5.4 g/t Au over 1.0m, plus 1.7 g/t Au over 10.0m, including 21.7 g/t Au over 0.5m starting at vertical depths of 68m and 40m, respectively
  • Hole 168: 14.8 g/t Au over 2.1m, including 50.4 g/t Au over 0.6m plus 2.8 g/t Au over 4.25m, including 9.9 g/t Au over 1.0m, starting at vertical depths of 414m and 372m, respectively
  • Hole 160: 0.9 g/t Au over 19.0m, including2.6 g/t Au over 1.0m, starting at a vertical depth of 124m
  • Hole 149: 1.5 g/t Au over 7.7m, including9.5 g/t Au over 0.5m, starting at a vertical depth of 72m
  • Hole 145A: 8.0 g/t Au over 2.3m, including 18.4 g/t Au over 0.8m, plus 3.8 g/t Au over 2.9m, including 7.8 g/t Au over 0.65m, starting at vertical depths of 373m and 381m, respectively
  • Hole 142: 70.6 g/t Au over 1.0m, starting at a vertical depth of 162m
  • Hole 89: 3.2 g/t Au over 6.0m, including 12.4 g/t Au over 1.0m, starting at a vertical depth of 53m

Highlights Along the East Edge of the Gap Include:

  • Hole 104: 12.2 g/t Au over 2.2m, including 27.4 g/t Au over 0.9m, starting at a vertical depth of 44m

An additional 6 holes with assays pending were drilled in the 400m gap between the GMZ and Richard Zones. All veins appear to be sub-parallel to the granite to the north and mimics its dip at ~60-65 degrees. In general, the better results to date are from steeper holes.

Intersects Show Excellent Continuity

The 1.3 g/t Au over 41.15 metres in the 400m gap is thought to correlate with several other intersections, as follows:

  • a new intersection of 1.4 g/t Au over 13.5m (hole 185) located 120m to the west,
  • a previously-reported intersection of 10.0 g/t Au over 3.0m (hole 133) located 282m to the west, and
  • and a new intersection of 12.2 g/t Au over 2.2m (hole 104) located 125m to the east.
  • Two other new intersections may also correlate – the 14.8 g/t Au over 2.1m, including 50.4 g/t Au over 0.6m (hole 168), and the 8.0 g/t Au over 2.3m, including 18.4 g/t Au over 0.8m (hole 145A), located at 344m and 357m, respectively, along strike (horizontally) to the west of the 1.3 g/t Au over 41.15 metres.

The 2.0 g/t Au over 17.6m (hole 171) and the 18.8 g/t Au over 6.0m, including 85.3 g/t Au over 1.0m (hole 186) are new intersections located 34m and 68m east, respectively, of a previously-released intersection of 2.2 g/t Au over 15.5m (hole 133).

Table 1. Assay Results

Hole ID From To Intercept

TW

Au

(m) (m) (m)

(m)

g/t

GWM19BL-40

no significant assays

GWM20BL-86

42.55

43.10

0.55

0.5

5.8**

66.25

72.55

6.30

5.7

1.0**

Including

69.25

69.95

0.70

0.6

5.4**

75.20

76.10

0.90

0.8

0.6**

89.00

90.00

1.00

0.9

0.9**

92.60

93.80

1.20

1.1

0.8**

104.00

105.30

1.30

1.2

0.5**

119.60

120.20

0.60

0.5

0.6

129.00

129.60

0.60

0.5

0.7

181.00

181.95

0.95

0.9

1.0**

201.00

203.20

2.20

2.0

1.2**

256.20

256.80

0.60

0.5

0.5**

440.85

444.15

3.30

3.0

0.5**

including

440.85

441.40

0.55

0.5

1.4 V.G.**

GWM20BL-89

56.00

62.00

6.00

3.2

including

59.00

60.00

1.00

12.4

67.00

69.00

2.00

1.0

72.00

73.00

1.00

1.1

90.00

93.00

3.00

0.6

108.00

109.00

1.00

0.6

111.00

111.80

0.80

0.6

114.00

116.00

2.00

0.6

127.00

128.00

1.00

0.6

129.00

131.00

2.00

1.0

160.00

162.00

2.00

0.7

178.00

182.00

4.00

1.2

GWM20BL-104

61.30

63.50

2.20

12.2

including

61.30

62.20

0.90

27.4

70.50

73.00

2.50

1.3

230.00

232.30

2.30

0.9

including

231.65

232.30

0.65

2.1

391.25

392.15

0.90

8.0

414.00

414.55

0.55

3.9

GWM20BL-117

66.00

67.00

1.00

2.4**

90.90

92.00

1.10

0.5**

121.00

124.10

3.10

1.0**

including

122.00

122.50

0.50

2.4**

142.00

143.50

1.50

1.7**

185.00

186.00

1.00

0.8

189.00

190.00

1.00

0.8**

GWM20BL-119

43.00

44.00

1.00

0.4**

46.00

47.00

1.00

0.6**

67.50

70.00

2.50

0.6**

76.00

79.00

3.00

0.8**

82.00

83.50

1.50

0.5**

108.95

110.00

1.05

7.5**

238.00

239.00

1.00

0.9

302.00

312.00

pending

334.00

335.00

1.00

0.6

GWM20BL-130

72.00

102.00

30.00

13.2

0.6**

including

73.00

74.00

1.00

0.4

5.3**

95.50

97.00

1.50

0.7

1.3**

113.50

114.50

1.00

0.4

0.7**

117.00

118.00

1.00

0.4

0.4**

132.00

149.00

17.00

7.5

0.5**

including

132.00

133.00

1.00

0.4

1.4**

including

141.00

142.00

1.00

0.4

1.6**

149.00

164.00

15.00

6.6

0.2

239.00

240.00

1.00

0.4

0.4

241.00

242.00

1.00

0.4

1.2

383.00

384.50

1.50

0.7

1.0 ***

388.00

388.50

0.50

0.2

1.1 ***

430.00

431.00

1.10

0.5

75.9

433.00

435.00

2.00

0.9

1.7 ***

476.00

501.00

25.00

11.0

1.3 ***

including

479.00

479.65

0.65

0.3

18.5**

including

497.80

498.30

0.50

0.2

4.4**

GWM20BL-133

59.00

67.65

8.65

7.5

3.0

including

59.00

60.00

1.00

0.9

21.7

118.00

121.50

3.50

3.0

1.4

137.00

138.00

1.00

0.9

1.3**

139.00

140.00

1.00

0.9

0.6**

150.50

157.00

6.50

5.6

9.5**

including

153.00

154.00

1.00

0.9

27.2**

157.00

174.00

Pending

175.50

191.00

15.50

13.4

2.2**

including

175.50

176.20

0.70

0.6

30.2**

203.00

204.50

1.50

1.3

0.5**

260.00

284.00

pending

328.00

331.00

3.00

2.6

10.0**

including

330.00

331.00

1.00

0.9

18.7**

337.00

353.00

pending

GWM20BL-136

67.00

68.00

1.00

0.6

3.5

208.00

209.00

1.00

0.6

2.3

231.00

231.50

0.50

0.3

0.7

245.00

291.00

pending

291.00

295.00

4.00

2.3

19.5**

including

294.00

295.00

1.00

0.6

51.5**

303.00

321.00

pending

324.00

344.50

pending

386.50

389.50

3.00

1.7

0.7

GWM20BL-137

139.00

140.00

1.00

0.5

4.3

188.00

189.00

1.00

0.5

2.1

449.50

451.00

1.50

0.7

0.5

452.00

453.00

1.00

0.5

1.7

GWM20BL-140

352.00

356.50

4.50

2.9

0.8

394.25

396.00

1.75

1.1

1.9

405.00

406.50

1.50

1.0

0.8

GWM21BL-142

73.00

75.00

2.00

1.3

3.0

172.00

173.00

1.00

0.6

70.6

233.00

235.00

2.00

1.3

0.7

GWM21BL-145A

120.20

121.00

0.80

0.4

0.6

130.50

132.00

1.50

0.8

1.4

148.50

151.00

2.50

1.2

1.1

190.00

191.00

1.00

0.5

0.7

208.00

209.00

1.00

0.5

0.6

218.00

219.00

1.00

0.5

0.4

232.00

234.00

2.00

1.0

1.2

380.00

382.30

2.30

1.1

8.0

including

381.00

381.80

0.80

0.4

18.4

387.60

390.50

2.90

1.4

3.8

including

387.60

388.25

0.65

0.3

7.8

GWM21BL-149

102.28

109.95

7.67

7.0

1.5

including

102.28

102.78

0.50

0.5

9.5

121.00

122.00

1.00

0.9

0.5

123.90

124.50

0.60

0.5

4.7

157.00

159.00

2.00

1.8

0.6

161.05

162.00

0.95

0.9

0.5

219.00

220.50

1.50

1.4

0.9

257.50

258.00

0.50

0.5

0.8

272.65

273.50

0.85

0.8

0.5

275.00

276.00

1.00

0.9

0.8

276.50

277.00

0.50

0.5

0.5

294.00

295.50

1.50

1.4

0.4

311.50

312.00

0.50

0.5

0.9

327.00

327.50

0.50

0.5

2.8

GWM21BL-151

198.75

199.75

1.00

0.8

244.00

244.50

0.50

0.8

247.50

248.00

0.50

0.5

249.00

249.50

0.50

0.5

416.00

418.00

2.00

0.9

GWM21BL-158

100.00

101.00

1.00

0.6

GWM21BL-160

91.00

92.00

1.00

1.7

142.00

161.00

19.00

0.9

including

160.00

161.00

1.00

2.6

185.00

186.00

1.00

2.0

231.00

235.00

4.00

0.7

295.00

296.00

1.00

0.5

GWM21BL-166

75.50

76.00

0.50

0.4

2.6

109.50

111.00

1.50

1.2

4.8

121.50

124.50

3.00

2.4

3.0

135.70

136.30

0.60

0.5

0.6

139.50

141.00

1.50

1.2

0.6

143.50

144.00

0.50

0.4

0.7

298.50

299.75

1.25

1.0

0.8

GWM21BL-168

70.00

78.00

8.00

6.3

0.7

including

70.00

71.00

1.00

0.5

3.2

126.00

127.00

1.00

0.5

0.5

145.00

148.00

3.00

1.4

1.3

150.00

151.00

1.00

0.5

0.5

242.00

249.00

7.00

3.2

2.6

including

242.00

243.00

1.00

0.5

14.3

258.00

259.00

1.00

0.5

0.7

379.75

384.00

4.25

1.9

2.8

including

381.00

382.00

1.00

0.5

9.9

431.90

434.00

2.10

1.0

14.8

including

431.90

432.50

0.60

0.3

50.4

446.00

447.00

1.00

0.5

7.7

499.00

500.00

1.00

0.5

2.8

501.00

501.70

0.70

0.3

2.3

GWM21BL-171

44.00

54.00

10.00

9.2

1.7

including

45.00

45.50

0.50

0.5

21.7

75.00

76.00

1.00

0.7

1.2

80.00

81.50

1.50

1.0

1.7

90.00

91.50

1.50

1.0

0.6

92.40

110.00

17.60

12.0

2.0

including

93.00

94.00

1.00

0.7

10.3

including

104.00

105.00

1.00

0.7

5.4

including

109.00

110.00

1.00

0.7

8.9

186.00

187.00

1.00

0.7

0.7

198.00

199.00

1.00

0.7

0.8

GWM21BL-175

43.00

45.00

2.00

0.6

93.00

253.00

pending

259.70

260.20

0.50

0.6

GWM21BL-178

39.00

40.00

1.00

1.9

82.80

83.60

0.80

0.9

106.00

107.00

1.00

3.9

201.00

202.00

1.00

0.5

224.50

226.00

1.50

0.6

333.50

334.30

0.80

0.5

GWM21BL-181

14.50

15.00

0.50

0.4

40.00

130.75

pending

171.00

172.00

1.00

0.7

188.00

237.50

pending

GWM21BL-183

14.00

22.00

8.00

1.0

including

15.00

15.50

0.50

2.6

87.00

88.00

1.00

12.9

including

87.50

88.00

0.50

24.7

172.50

287.00

pending

GWM21BL-185

30.00

35.00

5.00

1.3

including

31.00

32.00

1.00

3.1

including

34.50

35.00

0.50

4.4

70.00

73.00

3.00

0.7

85.00

86.50

1.50

0.8

89.00

98.00

9.00

1.2

including

91.00

92.00

1.00

7.0

129.50

132.00

2.50

1.2

166.00

166.50

0.50

3.8

178.00

183.00

5.00

1.0

201.00

214.00

13.00

0.8

including

202.50

204.00

1.50

2.4

including

213.00

214.00

1.00

4.8

238.50

252.00

13.50

1.4

including

242.00

243.00

1.00

6.4

including

251.00

252.00

1.00

8.5

327.00

337.50

pending

355.00

386.00

pending

GWM21BL-186

32.00

33.00

1.00

0.4

72.00

78.00

6.00

18.8

including

73.00

74.00

1.00

85.3

99.50

101.00

1.50

0.5

107.00

115.50

8.50

1.5

including

110.00

111.50

1.50

3.3

121.50

332.00

pending

GWM21BL-189

12.00

151.00

pending

197.50

200.50

3.00

0.8

208.00

208.85

pending

208.85

250.00

41.15

1.3

including

213.50

214.50

1.00

3.9

221.00

222.00

pending

including

225.00

226.00

1.00

3.9

including

247.50

248.35

0.85

4.0

including

249.00

250.00

1.00

9.3

262.50

264.00

1.50

0.5

268.50

270.00

1.50

0.8

270.00

372.00

pending

** previously reported; * intersection used 0.42 g/t Au for the bottom cut-off as per pit constrained resources but is at likely too much depth. Shown to indicate scope of mineralization; (TW=True Widths, which are calculated – sectional measuring may give slightly different numbers); True widths are unknown if not noted; VG=Visible Gold; 0.42 g/t Au was used for the bottom cut-off.

Table 2: Drill Hole Coordinates

Hole ID

Azimuth

Dip

UTM

Total

Depth (m)

Easting

Northing

GWM19BL-40

350

-45

653225

5020710

536

GWM20BL-86

140

-45

653617

5021812

222

GWM20BL-89

7

-78

653472

5021543

254

GWM20BL-104

170

-45

653906

5022114

564

GWM20BL-117

315

-45

653717

5021775

303

GWM20BL-119

315

-60

653718

5021774

366

GWM20BL-130

256

-79

653699

5021718

525

GWM20BL-133

312

-76

653699

5021723

399

GWM20BL-136

263

-71.5

653699

5021718

453

GWM20BL-137

270

-82

653684

5021671

480

GWM20BL-140

285

-70

653683

5021671

453

GWM21BL-142

300

-70

653672

5021685

414

GWM21BL-145A

286

-79

653676

5021683

504

GWM21BL-149

286

-45

653675

5021684

348

GWM21BL-151

286

-79

653621

5021652

456

GWM21BL-158

286

-70

653590.6

5021617.8

429

GWM21BL-160

318

-63

653590

5021617

400

GWM21BL-166

300

-60

653670

5021682

357

GWM21BL-168

271

-80

653703

5021719

513

GWM21BL-171

285

-67

653721

5021769

375

GWM21BL-175

286

-67

653763

5021804

372

GWM21BL-178

310

-60

653763

5021804

340.5

GWM21BL-181

286

-67

653789

5021875

356

GWM21BL-183

168

-75

653787

5021877

291

GWM21BL-185

310

-75

653813

5021846

387

GWM21BL-186

150

-45

653683

5021851

365

GWM21BL-189

310

-75

653900

5021914

375

New Brunswick Junior Mining Assistance Program

Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which partially funded drilling of the GMZ, Jubilee, and Richard Zones.

Geology and Mineralization

Clarence Stream deposits can be characterized as intrusion-related, quartz-vein hosted gold deposits. They contain elevated levels of bismuth and arsenopyrite in multiple quartz veins, with significant antimony in the South and North Zones and tungsten in the vicinity. The Zones contain multiple zones of quartz veining with sulfides and sericite alteration. In general, mineralization at Clarence Stream consists of 10-70% quartz stockworks and veins with 1-5% fine pyrite plus pyrrhotite plus arsenopyrite in sericite altered sediments. The South and North Zones also contain stibnite. Locally there is up to 10% sphalerite and semi-massive galena veinlets. The 3.0 km trend that hosts the GMZ, Richard and Jubilee Zones is associated with a mineralized mafic intrusive locally – similar to the South Zone, which currently hosts most of the property’s last reported gold resources (September 2017). A more complete description of Clarence Stream’s geology and mineralization can be found at www.galwaymetalsinc.com.

Review by Qualified Person, Quality Control and Reports

Michael Sutton, P.Geo., Director and VP of Exploration for Galway Metals, is the Qualified Person who supervised the preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals Inc. All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, located at 41 Bittern Street, Ancaster, Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road, Mississauga Ontario, Canada L4Z 1N9 and 35 General Aviation Road, Timmins, ON P4P 7C3, and/or Swastika Laboratories situated in Swastika, ON. All four labs have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. All samples are assayed for gold by Fire Assay, with gravimetric finish, and other elements assayed using ICP. The Company’s QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at one per 20 samples. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. Core recovery in the mineralized zones has averaged 99%.

About the Company

Galway Metals is well capitalized with two projects in Canada: Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the former producing, high-grade, gold-rich VMS polymetallic mine in Quebec. The Company began trading on January 4, 2013, after its successful spinout to existing shareholders from Galway Resources following the completion of the US$340 million sale of that company. With substantially the same management team and Board of Directors, Galway Metals is keenly intent on creating similar value as it had with Galway Resources.

Figure 1: Plan Map of the New Zones at Clarence Stream

Figure 2: Plan Map of the Richard and Jubilee Zones

Should you have any questions and for further information, please contact (toll free):

Galway Metals Inc.
Robert Hinchcliffe
President & Chief Executive Officer
1-800-771-0680
www.galwaymetalsinc.com

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CAUTIONARY STATEMENT: 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements made herein with respect to, among other things, the Company’s objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company’s public disclosure documents filed on SEDAR. Although the Company believes that management’s assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management’s expectations, financing will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will remain relatively stable, and the Company will be successful in the outcome of legal proceedings, undue reliance should not be placed on such information, which only applies 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. The Company disclaims any intention or obligation to update or revise any forward-looking information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

SOURCE: Galway Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/673482/Galway-Metals-Gap-Drilling-Intersects-13-gt-Au-over-4115m-and-188-gt-Au-over-60m-Closing-Gap-Between-GMZ-and-Richard-Zones












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Eric Sprott Announces Voting Support Agreement for Hochschild Mining PLC’s Proposed Acquisition of Amarillo Gold Corporation

Toronto, Ontario–(Newsfile Corp. – November 30, 2021) – Further to the press release of Amarillo Gold Corporation (Amarillo) dated November 29, 2021,…

Toronto, Ontario–(Newsfile Corp. – November 30, 2021) – Further to the press release of Amarillo Gold Corporation (Amarillo) dated November 29, 2021, Eric Sprott announces that 2176423 Ontario Ltd., a company which Mr. Sprott beneficially owns, has entered into a voting support agreement with Hochschild Mining PLC (Hochschild) in connection with Hochschild’s proposed acquisition of all of the issued and outstanding common shares of Amarillo (Amarillo Shares) by way of a statutory plan of arrangement (Arrangement) under the Business Corporations Act (British Columbia). 

2176423 Ontario holds 68,300,000 Amarillo Shares representing approximately 17.7% of the outstanding Amarillo Shares.

Mr. Sprott intends to hold the Amarillo Shares through 2176423 Ontario for investment purposes and to support the Arrangement, and, depending on market or other conditions, may acquire additional securities of Amarillo. If the Arrangement does not close or the voting support agreement is terminated, Mr. Sprott may acquire additional securities of Amarillo including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Amarillo is located at 82 Richmond Street East, Suite 201, Toronto, Ontario M5C 1P1. A copy of 2176423 Ontario’s early warning report will appear on Amarillo’s profile on SEDAR at www.sedar.com and may also be obtained by contacting Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105858





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Today’s News

Troubadour Amends Texas Project Option Agreement and Announces Proposed Consolidation

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to…

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the “Company”) is pleased to announce that it has reached an agreement with the Vendor of the Texas Gold project, located in the historic Beaverdell Mining Camp in southern, B.C., to extend the payments due on the Year 1 anniversary of the agreement by up to 6 months for consideration of $5,000. All other terms of the option remain the same.

Proposed Share Consolidation

The Company also wishes to announces that it intends to consolidate its issued and outstanding common shares at a ratio of two and a half (2.5) pre-consolidated shares to one (1) post-consolidation share (the “Consolidation“). The purpose of the Consolidation is to facilitate the Company’s ability to attract future financings, put the Company in a better position to complete acquisitions and generate greater investor interest.

The Company currently has 35,452,835 common shares issued and outstanding. Upon completion of the Consolidation, the Company anticipates there will be 14,181,134 common shares issued and outstanding.

“The share consolidation will put the Company in a better position to create significant value more reflective of its existing assets and any potential new acquisitions. Share consolidations are typically viewed in a negative context, but in this instance, we view it as a very positive move for the Company,” states Company President Geoff Schellenberg.

In accordance with the Company’s Articles, the Consolidation is not subject to shareholder approval. The Consolidation is subject to acceptance from the TSX Venture Exchange.

About Troubadour

TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The newly acquired Texas gold property diversifies the Company’s commodity focus and compliments Troubadour’s Amarillo copper project located 10 km south of the past-producing Brenda Mine in southern BC and 35 km east of Kodiak Copper’s MPD discovery.

For further information please contact:

Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
[email protected]

Forward Looking Information

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105761




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Today’s News

Apex Resources Provides Company Updates

  

November 30, 2021 – TheNewswire – Vancouver, BC. – Apex Resources Inc. ("Apex” or "the Company") (TSXV:APX) (OTC:SLMLF) announces that the Cease…

  

November 30, 2021 – TheNewswire – Vancouver, BC. – Apex Resources Inc. (Apex” or “the Company”) (TSXV:APX) (OTC:SLMLF) announces that the Cease Trade Order imposed by the British Columbia Securities Commission (BCSC) on November 19, 2020 has been revoked and its common shares resumed trading on the TSX Venture Exchange (TSXV) on November 25, 2021.  

 

The Cease Trade Order issued by the BCSC was lifted on completion of a revocation process with the BCSC following the filing of an updated Tungsten Resource Estimate on Apex’s Jersey Emerald Project in B.C. as per its September 14, 2021 news release.

 

The updated Resource Estimate confirms a significant tungsten (WO3) resource on the property with associated gold and molybdenum. There is an Indicated Resource of 1,472,803 tonnes at a grade of 0.173% WO3, 0.050g/t Au and 0.021% Mo and an additional Inferred Resource of 5,128,045 tonnes at a grade of 0.227% WO3, 0.081g/t Au and 0.026% Mo (September 14, 2021 news release). Apex will be filing for multi year permits for follow-up drilling at Jersey.

 

The Jersey-Emerald tungsten-zinc property is host to British Columbia’s second largest historic zinc mine and Canada’s second largest historic tungsten mine. Operations by Placer Development Ltd., the previous operator from 1947 to 1973 saw 7,968,080 tons of lead-zinc ore grading 1.95% Pb and 3.83% Zn, mined and milled and 1,597,802 tons of tungsten ore grading 0.76% WO3 mined and milled. The project has excellent infrastructure including power, water, extensive underground development and an educated nearby work force.

 

About Tungsten:

Tungsten is an extremely hard and durable metal with the highest melting point of all elements.  Because of these qualities there are no substitutes and tungsten is vital to a broad range of commercial and military applications. There are currently no North American mines producing tungsten and the west depends on recycling and imports to meet its tungsten needs. Because of possible supply disruptions tungsten is on the Critical Minerals Lists for both Canada and the USA.

Warrant Extension:

Apex is pleased to announce that the Company has received approval from the TSX on the extension of 5,769,231 warrants exercisable at $0.14 per share which expired on July 24, 2021, now extended until July 24, 2022.  The warrants were issued pursuant to a private placement of 5,769,231 shares with 5,769,231 share purchase warrants attached exercisable at $0.14 per share, which was accepted for filing by the Exchange, effective July 28, 2020.

 

About Apex Resources Inc.

Apex is a Canadian mining exploration and development company focused on British Columbia and the Yukon Territories. Apex is presently focused on the advancement of its Jersey-Emerald tungsten-zinc property and its Ore Hill gold property in southern BC.

 In February final assay results for the 2020 diamond drill program at Apex’s Ore Hill property returned 47 significant gold intersections from 12 holes. Highlights included 11.02 g /t Au over 1.06 metres, 7.10 g/t Au over 1.11 metres, 5.27 g/t Au over 1.59 metres and 289.97 g/t Au over 0.30 metres (Feb 17, 2021 news release). The Ore Hill gold property includes the historic Ore Hill and Summit gold mines located in the Sheep Creek Gold camp.

Apex management has a track record of mine discovery that includes the discovery and development of the renowned Hemlo Gold Mine in Ontario and the Mengapur copper-gold-molybdenum porphyry deposit (225Mt @ 0.59% Cu equivalent) in Malaysia now under development by Monument Mining Ltd.

For further information on the Company’s projects, visit www.apxresources.com.


Arthur G. Troup, P.Eng., Geological
President and CEO

For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: [email protected] or [email protected]

 

This release was prepared by Apex’s management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex’s filings that are available at www.sedar.com or Apex’s website at www.apxresources.com.

          

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