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Lofdal Heavy Rare Earth Deposit: Successful Hydrometallurgical Test Work Results in Highly Efficient Process to Produce a Market Ready >98% Rare Earth Oxide Product

HALIFAX, NS / ACCESSWIRE / October 7, 2021 / Namibia Critical Metals Inc. ("Namibia Critical Metals" or the "Company" or "NMI") (TSXV:NMI) is pleased to…

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HALIFAX, NS / ACCESSWIRE / October 7, 2021 / Namibia Critical Metals Inc. (“Namibia Critical Metals” or the “Company” or “NMI”) (TSXV:NMI) is pleased to provide an update on the development of the Lofdal Heavy Rare Earth project since granting of the Mining Licence in July this year. The Lofdal Heavy Rare Earth Deposit is one of only two primary xenotime projects under development in the world. The deposit has the potential for significant production of dysprosium and terbium, the two most valuable heavy rare earth elements used in high powered magnets and other high-tech applications. The Project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation (“JOGMEC”) targeting a long term, sustainable supply of heavy rare earths to Japan.

The Company has successfully completed hydrometallurgical test work to develop a flowsheet capable of producing a high-grade rare-earth oxide product from a xenotime flotation concentrate. The Company’s lead metallurgical consultants at SGS Minerals Services Canada (SGS) have simplified the final process stage with an acid bake to crack the mineral xenotime, to purify the pregnant leach solution and to precipitate a rare earth oxalate, which is subsequently calcined to form a product containing >98% total rare earth oxides (TREO). The acid bake process and concurrent removal of impurities is highly efficient and resulted in a 95% recovery of Dysprosium and Terbium in the leaching operation of the processing flow sheet. The high-quality product is practically free of typical deleterious elements like thorium and uranium (<3 ppm combined U+Th).

Darrin Campbell, President of Namibia Critical Metals stated:

These very positive test results are another big milestone for the Lofdal project and show that we are on the right path towards establishing that Lofdal can produce a valuable heavy rare earth product. This will allow us to advance an updated assessment of large-scale and integrated rare earth production towards a high purity Rare Earth Oxide product in Namibia. This would result in further value addition in Namibia and puts the country on the global map of rare earth supply strategies.”

Hydrometallurgical test work and results

Two flotation concentrates produced by processing of bulk samples from the Lofdal deposit were tested at the laboratories of SGS in Lakefield, Ontario, to determine the potential for producing a marketable rare earth product with minimal impurities. Previous hydrometallurgical test work had focused on more costly caustic cracking following gangue acid leach. The comprehensive test work at SGS has demonstrated the acid bake route is preferred due to lower reagent costs and higher recovery of the heavy rare earths.

A total of 12 acid bake and water leach tests were completed throughout the test program to investigate the dissolution of rare earth elements (REE) and the behaviour of gangue minerals through the addition of sulphuric acid at elevated temperatures (200-300°C). Optimum results were achieved using an acid addition of 1250 kg/t H2SO4 at 300°C followed by a water leach at 20% solids by weight at 25°C. Under these conditions, the tests showed very good REE recoveries with 97-98% for yttrium, 95% for dysprosium and 94-95% for terbium.

Table 1: Elemental composition of the calcined oxalate

Impurity removal test work using magnesium carbonate and hydrogen peroxide resulted in maximum precipitation of iron and thorium from the pregnant leach solution while minimizing REE co-precipitation. An intermediate and impure REE precipitate was produced via the addition of soda ash (sodium carbonate) solution.

The intermediate REE precipitate was re-leached in sulphuric acid using a two-stage sulphuric acid process at 50°C to achieve a pulp pH of around 3.5. This step resulted in the production of a concentrated REE liquor representing 99% of the available REE and also rejected 94% of the thorium, 85% of the aluminum, and 99% of the remaining iron.

To remove residual uranium and thorium, the re-leach liquor was processed through sequential ion exchange (Purolite A660) and solvent extraction (0.5% Primene JMT, 2.5% isodecanol in Aromatic 150ND) steps to selectively remove uranium and thorium from the REE liquor. Consequently, 99.9% of the uranium was removed in the IX contacts. A significant fraction (94%) the thorium was also removed in the IX steps and 75% of the remaining thorium was removed in the solvent extraction steps. The practically thorium-free raffinate from the solvent extraction step advanced to final REE precipitation with oxalic acid and calcination of the REE oxalate.

In the REE oxalate precipitation step, all REE were precipitated with minimal co-precipitation of impurities such as sodium, magnesium, silica and calcium. The final REE oxalate was calcined and produced a final solid containing 98.1% total rare earth oxides (TREO) or 86.2% of heavy rare earth oxides (HREO). High leach extractions of ~95% were achieved in the test program and REE losses in the REE recovery steps (as shown in Figure 1) are expected to be minimal.

Figure 1: Hydrometallurgical process flowsheet developed using Lofdal flotation concentrate

While the results are extremely positive, there remains room to optimise these processes regarding OPEX and CAPEX as well as recoveries. This final optimisation on flotation concentrate produced from the currently mined bulk samples is planned for 2022.

Planning for further value addition in Namibia

The positive hydrometallurgical test results allow for planning of value addition beyond the production of a xenotime concentrate at the Lofdal Mine providing for a win-win for the country and the company.

The addition of a hydrometallurgical plant would create further jobs in the southern Kunene Region of Namibia, and provides a marketable product for export as the rare earth oxalate with thorium and uranium levels below 3 ppm would be acceptable for import into Japan without restrictions or penalties.

About Japan Oil, Gas and Metals National Corporation (JOGMEC)

JOGMEC is a Japanese government independent administrative agency which among other things seeks to secure stable resource supplies for Japan. JOGMEC has a strong reputation as a long term, strategic partner in mineral projects globally. The mandated areas of responsibilities within JOGMEC relate to oil and natural gas, metals, coal and geothermal energy. JOGMEC facilitates opportunities with Japanese private companies to secure supplies of natural resources for the benefit of the country’s economic development.

Rare earths are of critical importance to Japanese industrial interests and JOGMEC has extensive experience with all aspects of the sector. JOGMEC provided Lynas with US$250,000,000 in loans and equity in 2011 to ensure supplies of the Light Rare Earths metals suite to the Japanese industry.

The Company currently owns a 95% interest in the Lofdal project with the remaining 5% held for the benefit of historically disadvantaged Namibians. The terms of the JOGMEC joint venture agreement with the Company stipulate that JOGMEC provides $3,000,000 in Term 1 and $7,000,000 in Term 2 to earn a 40% interest in the Lofdal project. Term 3 calls for a further $10,000,000 of expenditures to earn an additional 10% interest. JOGMEC can also purchase another 1% for $5,000,000 and has first right of refusal to fully fund the project through to commercial production and to purchase all production at market prices. The collective interests of NMI and historically disadvantaged Namibians cannot be diluted below a 26% carried working interest upon payment of $5,000,000 to JOGMEC for the dilution protection. The JV Agreement is structured such that no NMI equity will be issued and it is totally non-dilutive to NMI shareholders. To date, JOGMEC, has funded Term 1 and 2 expenditures totaling $6,600,000.

About Namibia Critical Metals Inc.

Namibia Critical Metals Inc. holds a diversified portfolio of exploration and advanced stage projects in the country of Namibia focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle and associated industries. The two advanced stage projects in the portfolio are Lofdal and Epembe. The Company also holds significant land positions in areas favourable for gold mineralization.

Figure 2: Location of Namibia Critical Metals’ projects highlighting position of gold projects (Erongo, Otjiwarongo and Grootfontein) in relation to important gold projects within the Navachab-Otjikoto gold belt

Heavy Rare Earths: The Lofdal Dysprosium-Terbium Project is the Company’s most advanced project being fully permitted with a Mining Licence (ML 200) issued in 2021. The project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation (“JOGMEC”) to provide a sustainable supply of heavy rare earths to Japan, most notably dysprosium and terbium.

Gold: The Company’s Exclusive Prospecting Licenses (“EPLs”) prospective for gold are located in the Central Namibian Gold Belt which hosts a number of significant orogenic gold deposits including the Navachab Gold Mine, the Otjikoto Gold Mine and more recently the discovery of the Twin Hills deposit. At the Erongo Gold Project, stratigraphic equivalents to the meta-sediments hosting the recent Osino gold discovery at Twin Hills have been identified and soil surveys are progressing over this highly prospective area. The Grootfontein Base Metal and Gold Project has potential for magmatic copper-nickel mineralization, Mississippi Valley-type zinc-lead-vanadium mineralization and Otjikoto-style gold mineralization. Detailed interpretation of geophysical data and regional geochemical soil sampling have identified first gold targets, with the first targets currently being drill-tested.

Tantalum-Niobium: The Epembe Tantalum-Niobium-Uranium Project is at an advanced stage with a well-defined, 10 km long carbonatite dyke that has been delineated by detailed mapping and radiometric surveys and over 11,000 meters of drilling. Preliminary mineralogical and metallurgical studies including sorting tests (XRT), indicate the potential for significant physical upgrading. Further work will be undertaken to advance the project to a preliminary economic assessment stage.

Copper-Cobalt: The Kunene Copper-Cobalt Project comprises a large area of favorable stratigraphy along strike of the Opuwo cobalt-copper-zinc deposit. Secondary copper mineralization over a wide area points to preliminary evidence of a regional-scale hydrothermal system. Exploration targets on EPLs held in the Kunene project comprise direct extensions of the cobalt-copper mineralization to the west, sediment-hosted copper, orogenic copper, and stratabound manganese and zinc-lead mineralization.

The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under the symbol “NMI”.

Micheal Archer of SGS is the Company’s Qualified Person and has reviewed and approved the scientific and technical information in this press release.

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.

For more information please contact –

Namibia Critical Metals Inc.
Darrin Campbell, President
Tel: +01 (902) 835-8760
Fax: +01 (902) 835-8761
Email: [email protected]
Web site: www.NamibiaCriticalMetals.com

The foregoing information may contain forward-looking information relating to the future performance of Namibia Critical Metals Inc. forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company’s filings with the appropriate securities commissions.

SOURCE: Namibia Critical Metals Inc.

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New High-Grade Gold Exploration Discovery at the Golden Marmot Zone Affirms the District-Scale Potential of Brucejack with 72.5 g/t Gold Over 53.5 Meters, including 6,700 g/t Gold Over 0.5 Meters

VANCOUVER, British Columbia, Oct. 25, 2021 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE: PVG) (“Pretivm” or the “Company”) today announced…

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VANCOUVER, British Columbia, Oct. 25, 2021 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE: PVG) (“Pretivm” or the “Company”) today announced a new high-grade gold exploration discovery at the Golden Marmot Zone on its Brucejack Property in Northern British Columbia. The Golden Marmot Zone is located 3.5 kilometers north of the Valley of the Kings deposit.

To date, assays have been received for the first nine drill holes of which eight drill holes intersected gold. A highlight was drill hole SU-786, which intersected four bands of high-grade gold mineralization over 53.5 meters.

Selected highlights include:

  • SU-786 intersected 72.5 grams per tonne gold over 53.5 meters, including 6,700 grams per tonne gold and 3,990 grams per tonne silver over 0.5 meters and including 787 grams per tonne gold over 0.5 meters.
  • SU-778 intersected 46.1 grams per tonne gold over 5.8 meters, including 208 grams per tonne gold over 1.0 meter.
  • SU-772 intersected 22.8 grams per tonne gold over 38.0 meters, including 268 grams per tonne gold over 1.0 meter and including 188.4 grams per tonne gold over 2.13 meters.

See Table 1 below for assays received to date from the 2021 exploration program at Golden Marmot. For a plan and section view of the 2021 Golden Marmot Zone drill program and photos of the drill core please see the following link: http://ml.globenewswire.com/Resource/Download/749bcf27-7b97-4cc1-8410-a4735215a7f3.

“Initial results from Golden Marmot are exciting and affirm the district-scale potential of the Brucejack property,” said Jacques Perron, President and Chief Executive Officer of Pretivm. “The gold mineralization intersected at Golden Marmot occurs in the same host rocks and with the same alteration signature as the nearby Valley of the Kings deposit, which is a strong indication it could be a new high-grade deposit. Its proximity and existing trail access would make it relatively easy to integrate into future mine plans as an independent source of ore to supply the Brucejack mill.”

“The drilling completed in 2021 intersected gold mineralization over a zone that is approximately 150 meters in width, 250 meters in length, and 275 meters in depth. A historic drill hole intersected high-grade gold mineralization a further 225 meters below the currently drilled zone. The Golden Marmot Zone remains open and could be of similar size to the Valley of the Kings deposit. We are eagerly awaiting the assay results from the remaining 17 drill holes which we expect to release early next year.”

“These results continue to support our view that additional deposits and sources of high-grade mineralization will be identified near the Valley of the Kings deposit opening up the potential for a significantly longer mine life and continued impressive cash flow generation. Golden Marmot is only the first of several zones drill tested this year with results still to come from Gossan Hill, Bridge Zone and Hanging Glacier. All of these targets have the potential to deliver game-changing results and are within four kilometers of the Brucejack Mine infrastructure. We look forward to continuing to grow the potential of this exceptional property and will release results as they become available.”

District-Scale Potential

The Golden Marmot Zone is located 1.75 kilometers east of the Hanging Glacier Zone where a gold discovery was made last year (see news release dated December 16, 2020). Both zones are part of a four-kilometer trend of highly altered rocks which outcrop from Hanging Glacier Zone northwest of the Brucejack Mine to Bridge Zone southeast of the mine.

The 2021 drill program at Golden Marmot consisted of 26 drill holes totaling 8,466 meters. Previous drilling completed in 2011 at Golden Marmot intersected 2.8 grams per tonne gold over 17.3 meters, including 23 grams per tonne gold over 1.3 meters in hole SU-197 (see news release dated September 12, 2011). This mineralized structure is located approximately 225 meters below the deepest mineralization intersected in the 2021 drilling.

Golden Marmot Zone

The Golden Marmot Zone is accessible via an exploration trail from the Brucejack camp and is marked by a prominent gossan on the hill side. Mineralization occurs as coarse-grained electrum hosted within silicified and quartz-sericite-pyrite altered conglomerates and sandstones, which is the same as the Valley of the Kings deposit.

The 2021 Golden Marmot drill target was defined by prospecting during the 2019 and 2020 field programs, with grab samples assaying up to 8.73 grams per tonne gold. To compliment this field work and aid in target selection, a prospectivity mapping and target ranking initiative was initiated with GoldSpot Discoveries Corp earlier this year. Artificial intelligence and machine learning algorithms were applied to synthesize the geochemical, geophysical and hyperspectral data available from the Brucejack Property. This program identified 65 targets on the Brucejack Property, with Golden Marmot ranking as a high priority drill target for quartz vein hosted gold mineralization.

Stephanie Wafforn, PhD, P.Geo., Pretivm’s Resource Manager is the Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects responsible for the Near Mine Exploration drill program and has reviewed and approved the scientific and technical information in this news release related thereto.

Table 1: Selected Golden Marmot Phase 1 Results, October 2021 (SU-766 to SU-786)(1,2)

Hole ID Dip/
Azimuth
From
(meters)
To
(meters)
Length
(meters)
Gold (g/t) Comments
SU-766 -45/200 196.5  210  13.5  5.39   
SU-772 -45/200 75  97.5  22.5  1.52   
  And 114  152  38  22.8   
  Incl 124  125  268   
  Incl 130.87  133  2.13  188.4   
  Incl 149  152  58.3   
  And 171  193.5  22.5  0.99   
SU-773 -45/250 66  139.5  73.5  0.61   
SU-778 -60/200 105  127.1  22.1  3.95   
  Incl 126.6  127.1  0.5  144.5   
  And 141.5  173  31.5  1.78   
  Incl 170  173  8.36   
  And 235.5  241.3  5.8  46.1   
  Incl 239.4  240.4  208   
  And 352.8  367.5  14.7  3.5   
SU-783 -45/125 253.5  258  4.5  3.51   
SU-784 -60/125 156  158.4  2.4  2.66   
  And 229.5  240  10.5  0.89   
SU-785 -45/75 73  104.96  31.96  1.11   
  And 129  165  36  4.05   
  Incl 151  159  13.7   
  And 222  229.5  7.5  2.87   
  And 273  283  10  3.94   
SU-786 -60/75 61  74  13  7.10   
  And 151  174  23  4.16   
  And 251  304.5  53.5  72.5   
  Incl 270.5  271  0.5  6700  3990 g/t silver
  And 285  285.5  0.5  787  445 g/t silver

1) True thickness to be determined.        
(2) All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP-MS finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in North Vancouver, B.C. ALS Chemex is independent of Pretivm.

About Pretivm

Pretivm is a growing intermediate gold producer with the 100%-owned, high-grade gold underground Brucejack Mine located in northwestern BC. We strive for operating excellence and our first priority is the health and safety of our employees, contractors and neighbouring communities. We are committed to the principles of sustainable development and conducting our activities in an environmentally and socially responsible manner.

For further information contact:

Troy Shultz
Director, Investor Relations &
Corporate Communications

Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(604) 558-1784
[email protected]
(SEDAR filings: Pretium Resources Inc.)

Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as “forward-looking information”), including the “safe harbour” provisions of Canadian provincial securities legislation and the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and Section 27A of the U.S. Securities Act of 1933, as amended. Wherever possible, words such as “plans”, “expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “modeled”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking information. Forward-looking information may include, but is not limited to: the district-scale potential of Brucejack and the affirmation of this potential by the discovery of the Golden Marmot Zone, the potential for the Golden Marmot Zone to be a new high-grade deposit, integration (and ease of integration) of the Golden Marmot Zone into future mine plans as an independent source of ore to supply the Brucejack mill, the potential size of the Golden Marmot Zone including that it could be of similar size to the Valley of the Kings deposit, the expected announcement of assay results from the remaining 17 drill holes of the 2021 Golden Marmot exploration program, our views that additional deposits and sources of high-grade mineralization will be identified near the Valley of the Kings deposit opening up the potential for a significantly longer mine life and continued impressive cash flow generation, the potential for drill results from the Gossan Hill, Bridge Zone and Hanging Glacier exploration programs to deliver game-changing results and the expected announcement of assay results from these exploration programs; results, analyses and interpretations of exploration and drilling programs; our mining (including mining methods), expansion, exploration and development activities, including the reverse circulation drill program, our definition, sustaining, expansion and underground exploration drill programs, our follow-up and near-mine exploration programs and our grassroots exploration program, and the specifications, targets, results, benefits, costs and timing thereof; expectations around grade of gold and silver production; Brucejack Mine production rate and gold recovery rate; our operational grade control program, including plans with respect to our infill drill program and our local grade control model; grade reconciliation, updated geological interpretation and mining initiatives with respect to the Brucejack Mine; our management, operational plans and strategy; capital, sustaining and operating cost estimates and timing thereof; the future price of gold and silver; our liquidity and the adequacy of our financial resources (including capital resources); our intentions with respect to our capital resources; capital allocation plans; the estimation of mineral reserves and mineral resources including any updates thereto; parameters and assumptions used to estimate mineral reserves and mineral resources; realization of mineral reserves and mineral resource estimates; our estimated life of mine and life of mine plan for the Brucejack Mine; production and processing estimates and estimated rates; estimated economic results of the Brucejack Mine; predicted metallurgical recoveries for gold and silver; geological and mineralization interpretations; development of our Brucejack Mine and timing thereof; timelines and similar statements relating to the economic viability of the Brucejack Mine, including mine life, total tonnes mined and processed and mining operations; updates to our mineral reserves and mineral resources and life of mine plan for the Brucejack Mine, and the anticipated effects and timing thereof; timing, receipt, and anticipated effects of, and anticipated capital costs in connection with, approvals, consents and permits under applicable legislation; and the effects of the novel coronavirus (2019-nCoV) outbreak as a global pandemic, including anticipated operational and financial impacts, and our response and contingency plans. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results, actions, events, conditions, performance or achievements to materially differ from those expressed or implied by the forward-looking information including, without limitation, those related to: the effect of indebtedness on cash flow and business operations; the effect of a pandemic and particularly the COVID-19 outbreak as a global pandemic on the Company’s business, financial condition and results of operations and the impact of the COVID-19 outbreak on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, financial condition and results of operations; assumptions regarding expected capital costs, operating costs and expenditures, production schedules, economic returns and other projections; our production, grade of gold, milling recovery, cash flow and cost estimates, including the accuracy thereof; commodity price fluctuations, including gold and silver price volatility; the accuracy of our Mineral Reserve and Resource estimates (including with respect to size, grade and mining and milling recoverability) and the geological, operational costs and price assumptions on which they are based; uncertainties relating to inferred Mineral Resources being converted into Measured or Indicated Mineral Resources; our ability to maintain or increase our annual production of gold at the Brucejack Mine or discover, develop or acquire Mineral Reserves for production; dependency on the Brucejack Mine for our future operating revenue; the development of our properties and expansion of our operations; our need or ability to raise enough capital to mine, develop, expand or complete further exploration programs on our mineral properties; our ability to generate operating revenues and cash flow in the future; failure of counterparties to perform their contractual obligations; general economic conditions; the inherent risks in the mining industry; the commercial viability of our current and any acquired mineral rights; availability of suitable infrastructure or damage to existing infrastructure; transportation, processing and refining risks; maintaining satisfactory labour relations with employees and contractors; significant governmental regulations, including environmental regulations; non-compliance with permits that are obtained or delay in obtaining or renewing, failure to obtain or renew permits required in the future; increased costs and restrictions on operations due to compliance with health, safety and environmental laws and regulations; compliance with emerging climate change regulation and the detrimental effects of climate change; potential opposition from non-governmental organizations; uncertainty regarding unsettled First Nations rights and title in British Columbia; maintaining our social license to operate; uncertainties related to title to our mineral properties and surface rights; land reclamation and mine closure requirements; our ability to identify and successfully integrate any material properties we acquire; currency exchange rate fluctuations; competition in the mining industry for properties, qualified personnel and management; our ability to attract and retain qualified management and personnel; potential inability to attract development partners or our ability to identify attractive acquisitions; compliance with foreign corrupt practices regulations and anti-bribery laws; changes to rules and regulations, including accounting practices; limitations in our insurance coverage and the ability to insure against certain risks; risks related to ensuring the security and safety of information systems, including cyber security risks; significant growth could place a strain on our management systems; share ownership by our significant shareholders and their ability to influence our operations and governance and, in case of sales of our shares by such significant shareholders, our share price; failure to comply with certain terms of the convertible notes; reputational risks; and certain actions under United States federal securities laws may be unenforceable. This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance or achievements to differ from those anticipated, estimated or intended. Our forward-looking information is based on the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond our control. In connection with the forward-looking information contained in this news release, we have made certain assumptions about, among other things: our business and operations and that no significant event will occur outside of our normal course of business and operations (other than as expressly set out herein); planned exploration, development and production activities and the results, costs and timing thereof; future price of gold and silver and other metal prices; the accuracy of our Mineral Reserve and Mineral Resource estimates and related information, analyses and interpretations (including with respect to any updates or anticipated updates); the geology and mineralization of the Brucejack Project; operating conditions; capital and operating cost estimates; the results, costs and timing of future exploration and drilling; timelines and similar statements relating to the economic viability of the Brucejack Mine; timing and receipt of governmental, regulatory and third party approvals, consents, licenses and permits; obtaining required renewals for existing approvals, consents, licenses and permits; the geopolitical, economic, permitting and legal climate that we operate in; the adequacy of our financial resources, and our ability to raise any necessary additional capital on reasonable terms; commodity prices; currency exchange rates and interest rates; political and regulatory stability; requirements under applicable laws; market competition; sustained labour stability and availability of equipment; positive relations with local groups; stability in financial capital markets; and the impact of the COVID-19 outbreak. Although we believe that the assumptions inherent in forward-looking information are reasonable as of the date of this news release, these assumptions are subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained in this news release. Additional information about the risks and uncertainties concerning forward-looking information and material factors or assumptions on which such forward-looking information is based is provided in our public disclosure documents as filed in Canada on SEDAR at www.sedar.com and in the United States through EDGAR at the Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov. Forward-looking information is not a guarantee of future performance. 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. Forward-looking information involves statements about the future and is inherently uncertain, and our actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. For the reasons set forth above, readers should not place undue reliance on forward-looking information. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. Neither the TSX nor the NYSE has approved or disapproved of the information contained herein.








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Kirkland Lake Gold Announces Details of Third Quarter 2021 Conference Call and Webcast

TORONTO, Oct. 25, 2021 (GLOBE NEWSWIRE) — Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today…

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TORONTO, Oct. 25, 2021 (GLOBE NEWSWIRE) — Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that the Company will release its financial and operating results for the third quarter of 2021 after the market close on Wednesday November 3, 2021, Eastern Time (“ET”). The Company will then host a conference call to review the results on Thursday, November 4, 2021, at 8:00 am Eastern Time. Those wishing to join the call can do so using the telephone numbers listed below. The call will also be webcast and available on the Company’s website at www.kl.gold.

Date: Thursday, November 4, 2021, 8:00 am ET

Conference ID: 5247974

Toll Free Dial-In Number: 1 (888) 510-2008

International Callers: 1 (646) 960-0306

Webcast url: https://event.on24.com/wcc/r/3409441/D4EE6E4AC4888EFEC13099ED652C32DE

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.

For further information on Kirkland Lake Gold and to receive news releases by email, visit the website at www.kl.gold

FOR FURTHER INFORMATION PLEASE CONTACT:

Anthony Makuch, President, Chief Executive Officer & Director Phone: +1 416-840-7884
E-mail: [email protected]

Mark Utting, Senior Vice President, Investor Relations
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Roscan Gold Announces Positive Metallurgical Testing Results From the Kandiole Gold Project Achieved 97.6% Recoveries for Oxide and 92.9% for Fresh Mineralization Samples at Flagship Mankouke South Target

TORONTO, ON / ACCESSWIRE / October 25, 2021 / Roscan Gold Corporation ("Roscan" or the "Company") (TSX-V:ROS; FSE:2OJ; OTC PINK:RCGCF) is pleased to announce…

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TORONTO, ON / ACCESSWIRE / October 25, 2021 / Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V:ROS; FSE:2OJ; OTC PINK:RCGCF) is pleased to announce results from the metallurgical test work program completed on samples from gold prospects at Mankouke South (MS1), Mankouke Center- Kandiole (KN1) and the Kabaya (KB1- KB2) within the Company’s land package called Kandiole Projects located in west Mali, Africa.

Highlights:

  • All of the samples representing the deposits (Mankouke South MS1 and Center, Kandiole KN1 and Kabaya KB1-KB2) tested in this program exhibit non-refractory metallurgical features, indicating that a simple, industry-standard cyanide leach process provides excellent gold and silver extraction.
  • Total gold recoveries by gravity, plus 48 hours of CIL on all prospects, have averaged 97% for oxide (saprolite) samples, 89% for a transition sample and 90% for fresh mineralization samples.
    • Flagship Mankouke South achieved 97.6% in the oxide and 92.9% in fresh rock.
  • Both Oxide and Fresh mineralization are amenable to gravity concentration to recover free gold within the milling circuit.
    • The gravity recovery average from all samples and CIL tests is 23%.
  • The coarse ore leach tests in two Kabaya saprolite samples, to examine heap leach amenability, provided an average of 79% recovery of gold and 93 % silver after 8 days.
    • One sample reached 88.4% gold recovery after 72 hours.

Nana Sangmuah, President and CEO, stated,This is a major de-risking milestone for the Kandiole project confirming simple processing flow sheet with Oxide recoveries 97% including average gravity recoveries of 23% and up to 58% in certain deposits. We are also encouraged by the potential for silver by-product credits at our relatively lower grade Kabaya deposit which should further bolster project economics.”

Table 1: CIL and Gravity Test Recovery Summary

Table 2: Bond Work Index

Further Information:

All results from the gravity plus carbon in leach tests were positive, indicating that:

  • The program included testing of gravity separation, grindability and grind size variability, agitated leach kinetics, Carbon in Leach (CIL) and for two of the composites, Heap Leaching amenability determinations. Results from this metallurgical test work provide significant progress in the Resources estimation process.
  • A simple gold processing flowsheet for these deposits (Mankouke South MS1 and Center – Kandiole KN1 – Kabaya KB1- KB2) is applicable and will be considered in the maiden Mineral Resource estimation.
  • The CIL results for the oxide zone, which carries a large proportion of the mineralization (70-80%) at Mankouke South MS1 and Center – Kandiole KN1 – Kabaya KB1- KB2, are particularly favorable with 97% total gold recovery.
  • From different metallurgical tests, in Mankouke South, the most important portion of the overall mineralization, the gravity recovery reached 27% in saprolite and 25% in transition-fresh rock.
    • In Kandiole, the gravity extraction varies from 48 % to 58%, and in Kabaya the average is 23.3%.
  • Silver content of the Kabaya samples reaches 8.6 g/t with an average of 3.6 g/t and recovery in the gravity plus leach tests is above 95% for the saprolite.
    • After further analysis of more Kabaya samples, the assays could demonstrate that Silver is a potential economic by-product.
  • Encouraging leach kinetics indicate excellent gold extraction within 24 hours and averages only 0.5% below the extraction obtained in the maximum time of 48 hours.
  • Bond Ball Mill Grindability of 3.3-6.2 kWh/t (saprolite) – 10.4-21.5 kWh/t (transition-fresh rock) is comparable to other gold operations in the region.
  • Overall, the cyanide and lime consumptions indicated in this preliminary testing seem typical for these types of deposits.

In total, 12 composite samples of 20 to 40 kg have been sent for the metallurgical test work: 2 saprolite (oxide), 1 transition and 2 fresh rock samples from Mankouke, 1 saprolite (oxide) sample from Mankouke Centre, 1 saprolite (oxide) sample from Kandiole and 4 saprolite (oxide) and 1 fresh rock sample from Kabaya. Each composite comprised 1/3 of low-grade (0.3-1 g/t), 1/3 of medium-grade (1-3 g/t) and 1/3 high-grade (> 3g/t) drill sample intervals (all g/t values stated are for gold only).

For Mankouke South, the fresh rock has been separated between sedimentary and felsic intrusive rocks. Most of the composite samples have been prepared from ¼ of NQ diamond drill core, one composite was RC samples only and three have been prepared with a mix of core and RC samples. All individual samples which comprise the composites are well distributed spatially in the mineralization.

The test work was undertaken by Base Metallurgical Laboratories, Vancouver, Canada 200-970 McMaster Way, Kamloops, BC, Canada, V2C 6K2. The samples have been selected by Pascal van Osta, Roscan’s VP Exploration.

Qualified Person (QP) and NI43-101 Disclosure

Greg Isenor, P. Geo., Director for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

About Roscan

Roscan Gold Corporation is a Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. The Company has assembled a significant land position of 100%-owned permits in an area of producing gold mines (including B2 Gold’s Fekola Mine which lies in a contiguous property to the west of Kandiole), and major gold deposits, located both north and south of its Kandiole Project in West Mali.

For further information, please contact:

Nana Sangmuah, President & CEO
Director
Tel: (902) 832-5555
Email: [email protected]

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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.

SOURCE: Roscan Gold Corporation

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