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Magna Terra Provides Exploration Update on the Hawkins Love Gold Project, Southern New Brunswick; Expands Property Position

TORONTO, ON / ACCESSWIRE / August 11, 2021 / Magna Terra Minerals Inc. (the "Company" or "Magna Terra") (TSXV:MTT) is pleased to announce that it has completed…

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TORONTO, ON / ACCESSWIRE / August 11, 2021 / Magna Terra Minerals Inc. (the "Company" or "Magna Terra") (TSXV:MTT) is pleased to announce that it has completed a first phase systematic exploration program on its 100% controlled Hawkins Love Gold Project ("Hawkins Love" or "Project"), located in Southern New Brunswick. The Company has finished systematic reconnaissance-scale prospecting, including collection of 160 rock float and grab samples, and geological mapping over the property, collected 3,315 B-Horizon soil samples, and flown 685-line kilometres of drone magnetic surveys. The work covered the main contact zone between the Saint George Batholith and adjacent Mascarene volcanic and sedimentary rocks, a similar geological environment to Galway Metals' Clarence Stream Project (Exhibit A).

Project Highlights

  • Similar geological environment to the nearby Clarence Stream Deposit - deformed sediments and volcanics adjacent to the St. George granite;
  • 9,155 hectares of prospective mineral lands along a 10-kilometre extent of a regional-scale gold bearing structure - the Back Bay Fault;
  • 22-metre wide (core length) alteration zone featuring quartz veins with pyrite, chalcopyrite and specular hematite intersected in historic drillhole NRG-97-3;
  • 8-kilometre strike of anomalous soil and rock geochemistry along the Back Bay Fault;
  • Quartz vein boulders with visible gold assaying up to 302.5 g/t gold; and
  • 44 soil samples > 10 ppb gold and 11 samples > 50 ppb gold.

"We have completed our initial exploration program at Hawkins Love and look forward to receiving the results of the geochemical and geophysical data collected to date. Geological mapping completed so far on this early-stage project has identified a geological environment with favourable host rocks and associated faults, and deformation structures that are permissive for the area hosting orogenic gold mineralization. We have now covered much of the 8-kilometre section of anomalous gold bearing soils, high grade boulders, and alteration intersected in drill core along the Back Bay Fault with additional geochemical and geophysical data that sets the Company up for follow-up exploration on any priority targets in early fall 2021. The Hawkins Love Gold Project provides Magna Terra and its shareholders another large property within an emerging gold district in southern New Brunswick that is marked by the ongoing exploration success of Galway Metals at the nearby Clarence Stream Project."

~ Lew Lawrick, President and CEO, Magna Terra Minerals

Exploration Program Details

Prospecting and Geological Mapping

Initial reconnaissance-style prospecting, rock sampling and geological mapping on Hawkins Love consisted of collecting rock samples along ATV access roads, roadcuts, and traverse lines covering the most accessible portions of the property. Exposure on the property is highly variable with road cuts and ridgelines representing nearly all of the bedrock exposure on the property. A total of 160 rock samples were collected across the property, with float grab samples (typically angular boulders) representing most of the sampled media, and in many cases were focused on identifying sulphide bearing quartz veins and altered host rock. In general, sediment and volcanic hosted sulphides were the most commonly encountered mineralization styles with lesser occurrences of greisen veins in the granites and sulphide bearing intermediate to mafic dykes and sills. Outcrop mineralization identified on the property consisted of pyrite, chalcopyrite, and lesser base metal sulphides (galena and sphalerite). Rock samples will be submitted to ALS Global for gold and multi-element ICP analysis. Analytical results are pending and will be reported in a future news release.

Preliminary geological mapping on the Project has identified an environment that is favourable for orogenic style gold mineralization with identification of quartz vein zones and related alteration (e.g., Fe-carbonate, sericite and sulphide mineralization) that are tied to fault and deformation zones.

Soil Sampling

Magna Terra contracted GeoXplore Surveys Inc. to complete a primarily B-horizon soil sampling program covering the 8-kilometre long contact zone between the Saint George Batholith and the Mascarene Group and coincident Back Bay Fault, the target environment for gold mineralization (Exhibit B). The survey was designed to follow-up and expand upon historical sampling in the area that outlines areas of anomalous gold-in-soils. A total of 3,315, largely B-horizon (98%) soil samples were collected along 100 metre spaced lines at 25 metre sample intervals. Soil samples will be submitted to ALS Global for gold and multi-element ICP analysis. Analytical results are pending and will be reported in a future news release.

The Hawkins Love Property is characterized by an area with a complex glacial geological history with areas that have thin glacial till cover and other areas covered by thicker glacial till blankets and glacial-fluvial material. The soil data, once received, will be examined in context of this diverse glacial environment and interpretation made regarding the extent (whether close or distal from source) of glacial travel or dispersion of any soil anomalies. Further follow-up till sampling and glacial geological studies are expected to better understand the nature of any soil anomalies.

Drone Magnetic Survey

The Company contracted Pioneer Exploration Consultants Ltd. to complete a systematic drone magnetic survey covering the same 8-kilometre long contact zone as the soil sampling program (Exhibit B). The survey was designed to cover the area of prospective gold mineralization and provide further details on the host rocks and related fault structures that may host gold mineralization. A total of 685-line kilometres of magnetic surveying was completed on 50 metre spaced lines. Data quality was monitored by Bob Lo, P.Eng., consultant to Magna Terra. Pioneer is currently processing the magnetic data and results will be presented in a future news release.

Claim Staking

The Company has expanded the Hawkins Love Gold Project by staking an additional 99 units in 1 mineral claim (10075) covering 2,248.3 hectares to the north of the main claim block. These claims cover a parallel trend of Mascarene Group sediments that sit within the Saint George Batholith and were acquired based on visual sulphide mineralization and veining observed in outcrop (Exhibit B).

About the Hawkins Love Gold Project

The Hawkins Love Gold Project is an exploration stage project that has been the focus of previous base metal and rare earth element exploration with little prior focus on gold. The Project is located 40 kilometres west of Saint John, New Brunswick and 30 kilometres east of the Clarence Stream Deposit. The Property comprises 5 mineral claims (403 units) covering 9,155 hectares of land.

The Hawkins Love Project is centered along a 10-kilometre section of the regional Back Bay Fault and underlain by variably deformed Silurian-Devonian Saint George Plutonic Suite (Jake Lee Mountain Granite), Silurian Mascarene Group volcanic and sedimentary rocks and fault bound slices of Proterozoic New River Suite granite and volcanics (Exhibit B).

Historic exploration from 1969 to 2013 on the property has largely been focused on base metal massive sulphides and rare earth elements and has comprised collection of B-horizon soil samples, ground magnetics and electromagnetics, and minimal diamond drilling (15 holes totalling 2,256 metres) on small grid areas.

Highlights of exploration work completed to date include:

  • Anomalous gold bearing soils over an 8-kilometre strike extent parallel to a major fault system;
  • 22 metre wide (core length) alteration zone featuring quartz veins with pyrite, chalcopyrite and specular hematite intersected in hole NRG-97-3;
  • *Quartz vein boulders with visible gold assaying up to 302.5 g/t gold; and
  • 44 soil samples > 10 ppb gold and 11 samples > 50 ppb gold.

The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this exploration program and all future programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

*Note: "grab and boulder samples" are selected samples and are not necessarily indicative of mineralization that may be hosted on the property.

Qualified Person and Technical Reports

This news release has been reviewed and approved by David A. Copeland, P. Geo., Chief Geologist with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 - Standard for Disclosure for Mineral Projects. Widths from drill core intervals reported in this press release are presented as core lengths only. True widths are unknown.All quoted drill core sample intervals, grades and production statistics have been compiled from historic assessment reports obtained from the Government of New Brunswick.

About Magna Terra

Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada. Magna Terra owns three district-scale, advanced gold exploration projects in the world class mining jurisdictions of New Brunswick and Newfoundland and Labrador. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its precious metals discovery on its Luna Roja Project, as well as an extensive portfolio of district-scale drill ready projects available for option or joint venture.

Forward Looking Statements

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.

Cautionary Statements Regarding Forward Looking Information

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Email: info@magnaterraminerals.com
Website: www.magnaterraminerals.com

Exhibit A: Regional Geology and Gold Deposits of Southern New Brunswick with Magna Terra Project Locations.

Exhibit B: Property Geology and Gold Anomalies; Hawkins Love Project.

SOURCE: Magna Terra Minerals Inc.



View source version on accesswire.com:
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Today’s News

GGX Gold Corp Retains 360 Aviation for IR Services

VANCOUVER, BC / ACCESSWIRE / September 23, 2021 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce that…

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VANCOUVER, BC / ACCESSWIRE / September 23, 2021 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce that it has retained the services of 360 Aviation Services Inc. (360) for Investor Relation Services.

360 Aviation Service Inc. a B.C. Corporation is an established capital markets advisory firm servicing Canadian small cap companies across the North American markets.

360 will provide strategic marketing, investor relations and capital markets communications services. 360 will arrange and attend meetings with investors, maintain ongoing contact and broaden relationships with the professional investment community on GGX Gold Corp's behalf. The agreement is for a term of six months and GGX Gold will pay a monthly fee of $4,500. The investor relations agreement remains subject to TSX-V approval.

Barry Brown, chief executive officer of GGX Gold, stated: "We continue to focus on unlocking the value at our Gold Drop Property. The potential of a bulk sample at the C.O.D. vein will provide invaluable information to our team as we continue to advance the project."

The Company also announces that it has granted 975,000 stock options at an exercise price of $0.16 to its directors, officers, employees, consultants and investor relations. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the Company. Options issued for investor relations vest quarterly over a period of 12 months from the date of issuance. The stock options are not transferable and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.

On Behalf of the Board of Directors
Barry Brown, CEO
604-488-3900
Office@GGXgold.com

Forward Looking Statement
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Revolver undertakes no obligation to update such statements, except as required by law.

Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities 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.

SOURCE: GGX Gold Corp.



View source version on accesswire.com:
https://www.accesswire.com/665389/GGX-Gold-Corp-Retains-360-Aviation-for-IR-Services

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Today’s News

Copper Fox Announces 2021 Third Quarter Operating and Financial Results

Calgary, Alberta–(Newsfile Corp. – September 23, 2021) – Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased…

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Calgary, Alberta--(Newsfile Corp. - September 23, 2021) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased to announce that its unaudited interim consolidated July 31, 2021, financial statements have been filed on SEDAR.

For the nine months ended July 31, 2021, Copper Fox had a net loss of $747,620 (July 31, 2020 - $845,158) which equated to $0.00 loss per share (July 31, 2020 - $0.00 loss per share).

During the nine months ended July 31, 2021, the Company incurred $1,156,194 in expenditures primarily furthering the development of the Van Dyke and Schaft Creek copper projects, and the acquisition costs, the reclamation bond and expenses related to the 2021 exploration program for the Eaglehead copper project. Copies of the financial statements, notes, and related management discussion and analysis may be obtained on SEDAR at www.sedar.com, the Company's web site at www.copperfoxmetals.com or by contacting the Company directly. All references to planned activities and technical information contained in this news release have been previously announced by way of news releases. All amounts are expressed in Canadian dollars unless otherwise stated.

Elmer B. Stewart, President and CEO of Copper Fox stated, "During the Quarter, our primary focus was the Schaft Creek Preliminary Economic Assessment ("PEA") and advancing the Van Dyke copper project. Compilation of the historical data has significantly increased our understanding of the geometry, controls and potential to located additional polymetallic copper mineralization within the Eaglehead project. The large positive chargeability/resistivity anomalies outlined at Mineral Mountain demonstrate a strong correlation to copper-molybdenum mineralization exposed in outcrop and has provided the confidence to move the project to the drilling stage planned for early 2022."

2021 Q3 Highlights

  • Filed a National Instrument 43-101 Technical Report, containing a Mineral Resource Estimate Update for the Schaft Creek Property.
  • Advanced the PEA for the Schaft Creek project.
  • Completed an induced polarization survey on the Mineral Mountain copper project.
  • Compilation, geological modelling and commencement of the 2021 field program on the Eaglehead project.

After the Period End

  • Retained Montgomery & Associates to prepare a data gap analysis and conceptual Hydrogeological Model for the Van Dyke project.
  • Qualified to trade on the OTCQX® Best Market (trading symbol CPFXF) and retained the services of Stonegate Capital Partners, Inc. for an initial period of six months to provide investor relations services in the United States.
  • Announced the results of the PEA for the Schaft Creek project which yielded an after-tax net present value of US$842.1 million (on 100% basis using constant dollars) and internal rate of return of 12.9%, life of mine EBITDA of US$10.81 billion and free cash flow before recovery of initial capital expenditures of US$9.96 billion.

Warrant Exercised

During the nine months ended July 31, 2021, a total of 33,175,667 warrants were exercised for proceeds to the Company of $5,193,404.

Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.

Selected Financial Results

July 31, 2021April 30, 2021January 31, 2021October 31, 2020
3 Months Ended3 Months Ended3 Months Ended3 Months Ended
Loss before taxes$205,040$343,256$199,324$299,017
Net loss205,040343,256199,324(291,983)
Comprehensive (gain) / loss 32,777842,711791,658(453,015)
Comprehensive (gain) / loss per share, basic and diluted0.000.000.00(0.00)
    
July 31, 2020April 30, 2020January 31, 2020October 31, 2019
3 Months Ended3 Months Ended3 Months Ended3 Months Ended
Loss before taxes$248,589$390,982$205,587$289,922
Net loss248,589390,982205,587188,765
Comprehensive (gain) / loss 940,165(406,527)110,398257,746
Comprehensive (gain) / loss per share, basic and diluted0.00(0.00)0.000.00

 

Liquidity

As of July 31, 2021, the Company's cash position was $3,781,225 (October 31, 2020 - $491,933).

About Copper Fox

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSXV: CUU) focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia, and the 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox's other mineral properties and investments visit the Company's website at www.copperfoxmetals.com.

For additional information please contact:
Lynn Ball at 1-844-464-2820 or 1-403-264-2820 or investor@copperfoxmetals.com

On behalf of the Board of Directors,

Elmer B. Stewart
President and Chief Executive Officer

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.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking information within the meaning of the Canadian securities laws (collectively, "forward-looking information"). Forward-looking information in this news release include statements about our Van Dyke, Schaft Creek, Mineral Mountain and Eaglehead projects; filing a NI 43-101 Technical Report, Mineral Resource Estimate Update for the Schaft Creek Property; advancing the PEA for the Schaft Creek project; a data gap analysis and conceptual hydrogeological model for the Van Dyke project; acquisition of the Eaglehead project; compilation of data on the Eaglehead project; the 2021 program for the Eaglehead project and the results of a geophysical survey and planned drill program on the Mineral Mountain project.

In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: the geological, financial, and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are reasonable; the costs and results of planned exploration activities are as anticipated; and the stability of economic and market conditions. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause Copper Fox's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, the PEA on the Schaft Creek project may not be completed as planned or at all; the data gap analysis and conceptual hydrogeological model for the Van Dyke project may not be completed as planned or at all, the 2021 program for the Eaglehead project may not be completed as planned or achieve the desired results; the compilation of Eaglehead exploration results may not be realized; the geophysical survey on the Mineral Mountain project may not result in locating additional mineralization; a drilling program at Mineral Mountain may not be completed as planned or at all; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; copper prices and demand may fluctuate; currency exchange rates may fluctuate; conditions in the financial markets may deteriorate; trading prices of the Company's common shares may decrease below the exercise price of any outstanding warrants of the Company; and uncertainty as to timely availability of permits and other governmental approvals.

A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97493

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Today’s News

Jayden Completes Continuation to British Columbia

 

Vancouver, B.C. – TheNewswire – September 23, 2021; Jayden Resources Inc., ("Jayden" or the “Company") (TSXV:JDN) announces that at the Company’s…

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Vancouver, B.C. - TheNewswire - September 23, 2021; Jayden Resources Inc., ("Jayden" or the “Company") (TSXV:JDN) announces that at the Company’s annual general and special meeting of shareholders held on July 21, 2021, the Company’s shareholders approved by special resolution the continuation of the Company from the Companies Law (2021 Revision) of the Cayman Islands into the jurisdiction of British Columbia under the Business Corporations Act (British Columbia) (the “Continuation”), and the Company has completed the necessary amendments to the Company’s constating documents to ensure compliance with the Business Corporations Act (British Columbia).

The Continuation is intended to provide management of the Company with increased flexibility, and to reduce administrative costs. There have been no changes to the operations or activities of the Company in connection with the Continuation.

Effective at the market open on September 24, 2021, the common shares of the Company will continue to trade on the TSX Venture Exchange under the name Jayden Resources Inc., under the Company’s existing TSX Venture Exchange stock symbol “JDN”.

Holders of the Company’s current Ordinary Shares are now holders of Common Shares.  The Company’s new CUSIP and ISIN numbers to the Company’s Common Shares are 47208P105 and CA47208P1053 respectively.  A new share certificate for Common shares indicating the Company as a Company continued under the Business Corporations Act (British Columbia) will be issued in the normal course further to share transfers and other share transactions.  In the meantime, holders of existing share certificates that represent Ordinary Shares of the Company will continue to represent Common Shares of the Company.  The existing Ordinary common shareholders do not have to exchange their current share certificates for Common Share certificates with the Company’s transfer agent.

Details of the Continuation is more particularly set out in the Company’s Information Circular dated June 22, 2021 as SEDAR filed on June 22, 2021 in connection with the Company’s July 21, 2021 annual general and special meeting.

For further information about Jayden and this news release please contact Mike Thast at 778-331-2093 or visit Jayden’s website at www.jaydenresources.com.

On Behalf of the Board:

"David Eaton"
President &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.

Copyright (c) 2021 TheNewswire - All rights reserved.

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