VANCOUVER, BC / ACCESSWIRE / November 24, 2021 /( )(Frankfurt:O4T1)(OTCQB:MARVF); (the “Company“) is pleased to announce the Company has arranged a non-brokered private placement to raise proceeds of $750,000 by issuing both Flow Through and Non-Flow Through units.
Up to 4,615,385 Flow-Through units will be issued at a price of $0.13 per unit. Each unit consisting of one Flow-Through common share and one-half of one common share purchase warrant; each whole warrant (“Warrant”) entitling the holder to subscribe for and purchase one non-flow-through common share (“Warrant Shares”) at a price of $0.25 for a period of 24 months following the acceptance date.
Up to 1,304,348 Non-Flow-Through units will be issued at a price of $0.115 per unit. Each unit consisting of one common share and one common share purchase warrant; each warrant (“Warrant”) entitling the holder to subscribe for and purchase one non-flow-through common share (“Warrant Shares”) at a price of $0.20 for a period of 24 months following the acceptance date.
The aggregate gross proceeds from the sale of the Offering will be used for exploration of the Company’s projects and general working capital.
A finders’ fees may be paid in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the “Exchange”).
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering, and payment of the Finders’ fee are subject to the approval of the Exchange.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
- Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook – Au Prospects)
- Atikokan, Ontario (BlackFly – Au Prospect)
- Elliot Lake, Ontario (East Bull – Ni-Cu-PGE Prospect)
- Quebec (Duhamel – Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
- Prince George, British Columbia (Wicheeda North – Rare Earth Elements Prospect)
The Company’s website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: [email protected]
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
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.
View source version on accesswire.com:
Nexus Gold Expands Dakouli 2 Gold Concession, Burkina Faso, West Africa
Vancouver, Canada – TheNewswire – December 7, 2021 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV:NXS) (OTC:NXXGF) (FSE:N6E) is pleased…
Vancouver, Canada – TheNewswire – December 7, 2021 – (“Nexus” or the “Company”) () (OTC:NXXGF) (FSE:N6E) is pleased to report that it has received confirmation from the Government of Burkina Faso’s Ministre de L’Energie des Mines et Les Carriers that its application for expanding the Dakouli 2 permit has been approved.
The expansion of the Dakouli 2 project has resulted in the exploration permit being expanded by 1.39 square kilometers. The expansion extends the permit coverage westward from its original configuration and now encompasses areas first identified in 2013 where previous explorers collected rock grab samples retuning results of 1.75 grams-per-tonne (“g/t”) gold (”Au”), 2.14 g/t Au and 2.32 g/t Au. These rock samples are described as white quartz veins hosted in red granite.
Subsequent to the rock sampling a program of Aircore and Reverse Circulation (“RC”) drilling was used to investigate the area. The drill program consisted of four RC holes for 430m (PNRC001-003,009) and 12 AC holes for 250m (PNAC001-012).
The best reported results from this drilling are 12 meters of 1.01 g/t from hole PNRC001, and 36m of 0.51 g/t in hole PNRC003. Reported Drilling described that the main gold mineralization is associated with a fine-grained syenite dyke with sulphide and quartz veining up to 14m thick. It’s interpreted that this dyke is striking to the north east and dipping to the south.
Drilling to Date at Dakouli
In late 2020 the Company conducted a Reverse Circulation (“RC”) drill program at the 98-sq kms concession consisting of 2,914 meters of exploratory drilling. The first-ever drill program on the property was designed to test several areas that have returned either high gold values from rock samples or coincidental soil geochemical and geophysical anomalies proximal to artisanal workings (“orpaillages”).
4.83 grams-per-tonne (“g/t”) gold (“Au”) over 20 meters
Including 14.51 g/t Au over 6m
And 39.6 g/t over 2m
1.61 g/t Au over 10m
Including 4.11 g/t Au over 2m
1.89 g/t Au over 8m
Including 6.54 g/t Au over 2
In addition, several holes returned lengthy intercepts of sub-one gram gold, including DKL-20-RC-006 which returned .59 g/t Au over 18 meters, DKL-20-RC-017, which returned .91 g/t Au over 10m, and DKL-20-RC-002 which returned .64 g/t Au over 16 meters.
In the summer of 2021, the Company returned to Dakouli to conduct a 2000m follow up Diamond Drill program. Results from this program expanded upon the earlier RC drill results with several significant intercepts:
0.95 g/t Au over 23m
Including 1.01 g/t Au over 15m
1.46 g/t Au over 7m
Including 4.87 g/t Au over 1m and 6.88 g/t Au over 1m
1.90 g/t Au over 28m
Including 10.87 g/t Au over 4m
Including 15.1 g/t Au over 1m, and 17 g/t Au over 1m
1.43 g/t Au over 10m
Including 10.6 g/t Au over 1m
Drilling has so far primarily been confined to a small section in the upper northeastern portion of the concession ground.
Image 1: Location of Dakouli 2 project, Goren Greenstone Belt, Burkina Faso, West Africa
Image 2: Bisecting Sabce faults (red) and artisanal zones, Dakouli 2 project, Burkina Faso, West Africa
About the Dakouli 2 Gold Concession
The Dakouli 2 exploration permit is a nearly 100-sq km (10,000 hectares) gold exploration property located approximately 100 kilometers due north of the capital city Ouagadougou. Situated on the Goren greenstone belt, Dakouli is proximal to Nordgold’s Bissa Mine, and is bisected by the gold-bearing Sabce shear zone.
In late 2018 Company geologists conducted a comprehensive ground reconnaissance program to the west and south of the main orpaillage (artisanal zone) and identified new near surface workings being exploited by artisanal miners. Rock samples collected from these new zones contained various concentrations of visible gold, including coarse nuggety samples.
Follow up work outlined an anomalous zone extending some 500 meters west from the sample zones. Based on those results the Company initiated a 150-line kilometer soil geochemical survey covering the northern half of the Dakouli 2 property. This survey identified three prominent gold geochemical trends.
The primary gold trend parallels the Sabce fault zone and extends for approximately 10 kilometers in a northeast-southwest direction and bisects the property from the northeast corner of the property to its western boundary. The Sabce fault hosts multiple deposits including Nordgold’s 3.4M oz Bissa Mine, located approximately 25km east of the Dakouli ground.
Two secondary gold trends which extend for approximately 6.5 kilometers each are oriented in a northwest to southeast direction and bisect the primary trend. All three gold geochemical trends are coincidental to geophysical trends identified from the national regional airborne geophysics.
* Please note that while the Company considers sampling and reporting results from the new portions of the exploration permit to be accurate, readers are cautioned that a Qualified Person has been unable to verify the laboratory involved in the analysis of these samples, and no documentation was available regarding quality control procedures utilized in the analysis.
Private Placement Closed
The Company also reports that it completed a non-brokered private placement (the “Offering”) for gross proceeds of $530,000. In connection with closing of the Offering, the Company has issued 5,000,000 flow-through units (each, an “FT Unit”) and 5,600,000 non-flow-through units (each, an “NFT Unit”). Each “FT Unit” and “NFT Unit” was issued at a price of $0.05 and consists of one common share of the Company and one common share purchase warrant exercisable at price of $0.07 until December 1, 2024.
The gross proceeds from the Offering will be used for further project development work, for general working capital purposes and to finance Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) which shall qualify as “flow-through mining expenditures” for the purposes of the Income Tax Act (Canada).
All securities issued in connection with the Offering are subject to a statutory hold period until April 2, 2022 in accordance with applicable securities laws. No finders’ fees or commissions were paid in connection with completion of the Offering.
The Company also clarifies that the 16,109,450 common share purchase warrants issued in connection with a non-brokered private placement completed by the Company on June 28, 2021, are exercisable until June 28, 2026, and not as otherwise noted. For further information concerning the private placement, readers are encouraged to review the Company’s news release of June 25, 2021.
Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
About the Company
Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. The Company’s primary focus is on its 100%-owned, ~100-sq km Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the 1400-ha McKenzie Gold Project, located in Red Lake, Ontario. The Company is concentrating on the development of its core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
President & CEO
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. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
Copyright (c) 2021 TheNewswire – All rights reserved.
Bathurst Metals Announces Completion of Financing and DTC Eligibility
Vancouver, British Columbia – TheNewswire – December 7, 2021 – Bathurst Metals Corp. (TSXV:BMV) (OTC:BMVVF) (“Bathurst” or the “Company”) announces…
Vancouver, British Columbia – TheNewswire – December 7, 2021 – ( ) (OTC:BMVVF) (“Bathurst” or the “Company”) announces it has closed the second tranche of its previously announced private placement by the issuance of 2,500,000 units (the “Units”) at a price of $0.10 per Unit for aggregate gross proceeds of $250,000.00 (the “Offering”). Each Unit is comprised of one (1) common share and one (1) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.15 for one year from closing of the Offering.
The Units, common shares, share purchase warrants and shares issued upon exercise of the share purchase warrants are subject to a four month hold period, expiring April 8, 2022.
Further the Company is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC“) in the United States. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible”. DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company’s common shares in the United States. With DTC eligibility, existing investors benefit from potentially greater liquidity and execution speeds. This also opens the door to new investors that may have been previously restricted from our common shares and simplifies the process of trading our common shares in the United States
On behalf of the Board of Directors
For more information contact Harold Forzley, CEO
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
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company’s intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). 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. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.
665 DOUGALL ROAD, GIBSONS BC WWW.BATHURSTMETALS.COM
Copyright (c) 2021 TheNewswire – All rights reserved.
Rhyolite Resources Ltd. – Announces C$18 million Private Placement Financing
Not for distribution to U.S. news wire services or dissemination in the United States. VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) –…
Not for distribution to U.S. news wire services or dissemination in the United States.
VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) —( ) (“Rhyolite” or the “Company”) has announced today that it has entered into an agreement with BMO Capital Markets (“BMO”), under which BMO has agreed to buy on a bought deal basis by way of private placement, 16,000,000 common shares (the “Common Shares”) of the Company, at a price of C$0.88 per Common Share (the “Offering Price”) for gross proceeds of approximately C$14 million (the “Bought Deal Private Placement”). Rhyolite is also undertaking a non-brokered private placement of approximately C$4 million at a price per Common Share equal to the Offering Price (the “Non-Brokered Private Placement”, and together with the Bought Deal Private Placement, the “Offering”). In addition, the Company has also granted BMO an option, exercisable up to 48 hours prior to the closing of the Offering, to purchase up to an additional 4,500,000 Common Shares purchased pursuant to the Bought Deal Private Placement.
The Company intends to use the net proceeds of the Offering for furthering engineering work on Muckahi, procurement of Muckahi equipment, exploration in Suriname, and corporate purposes.
The Offering is expected to close on or about December 21, 2021 and is subject to Rhyolite receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the closing of the Offering and the use of proceeds of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the ability to attract financing on these terms or at all; the price of commodities; and the results of current exploration. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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 press release.
For further information, please contact:
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