VANCOUVER, BC / ACCESSWIRE / September 7, 2021 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF) (Frankfurt:8NV) ("NV Gold" or the "Company") has completed detailed mapping and Leapfrog modeling at its 100% controlled Slumber Gold Project ("Slumber") located approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, USA. Permitting a 3rd drilling campaign and negotiations to secure adequate drilling equipment are underway. Drilling is expected to commence in October 2021.
Key Highlights from previous Drilling Program at Slumber Gold Project
- Two drilling campaigns were completed in 2019/20 comprising 16 reverse circulation ("RC") drill holes, totaling 2,474 m (8,119 ft.).
- Drilling has outlined a new 600-meter-wide, near-surface mineralized oxide gold zone with notable drill intercepts, including a very encouraging 18.3 m @ 0.52 g/t Au beginning at 48.7 m in Hole SL-11, hosted in an oxidized and silicified rhyolite correlating with a resistive blanket as seen in controlled sourced audio frequency magnetotellurics (CSAMT) data (see Figure 3 & 4). Another hole, SL-14, intersected 134.2m @ 0.14 g/t Au starting from the collar and was terminated in gold mineralization.
- This newly discovered zone is separate from that discovered during the 2019 drill program and will be prioritized for follow up in a Phase 3 drilling campaign in Q4 2021.
- The source of the mineralized CSAMT resistive blanket is believed to come from higher grade feeder structures at depth (see Figures 1, 2 & 6).
Mapping and Leapfrog Modeling Conclusions
Mapping has identified extensive alteration favorable for gold mineralization in Upper Volcanic Package (UVP) rocks (Trf & Trt in Figure 1) further north of the gold zone defined by previous drilling. These findings are encouraging, suggesting the system is continuous and may be covered by unaltered flow-banded rhyolite domes (Tr in Figure 1) and Quaternary (Qoa) material.
Rhyolite breccias (tuff breccias and phreatomagmatic breccias of Trf) that were not identified in previous drilling were discovered during detailed mapping of the northern portion of the property. This mapping and specific rock textures and breccia descriptions were used as vectors to the feeder for the system. The feeder target is interpreted, based on the location of a large resistor and open gold mineralization, to be located in the northwest portion of the southern NVX claim block (see Figure 1, 4, 5 & 6).
Structural and geophysical observations indicate the UVP is bounded by graben structures and dips to the north, consistent with the extent of the CSAMT resistor blanket being open to the north (see Figure 4). This resistor anomaly is interpreted as a continuation of the gold system identified in the UVP from previous drilling and will be the main target for the next phase of drilling expected to commence in October (see Figure 1 & 4).
A recently completed three dimensional model completed in Leapfrog software was used to determine the gold volume encountered in the 2019/20 drilling campaigns. Comparing the gold distribution with the reinterpreted geological information it appears that previous drilling might have only peripherally intercepted the southwestern edges of two much larger, potentially mineralized CSMT resistor zones. Combining the known geology with the new mapping and Leapfrog modeling the silicified and mineralized system appears to have a strike-length of at least 1 kilometer and a width of 600 meters and correlates well with two open and north-plunging resistor zones (see Figure 4 & 5). The next drilling campaign will focus on this near-surface oxide and has potential to push Slumber towards a discovery stage.
"I am pleased and extremely excited about the outcome of the recent Slumber mapping and Leapfrog modeling. Slumber is advancing through comprehensive data collection and modeling. Encountering an open, near-surface oxide gold zone is very encouraging. The goal of the Q4 drilling will be to find the source and higher-grade pathways of this gold mineralization. These holes will focus on the north-plunging and open resistor zones. The geochemistry data as imaged in Leapfrog modeling is very impressive and strongly supportive of our goal of delineating an oxide gold resource during 2022 and to advance Slumber to a discovery stage." commented Thomas Klein, VP Exploration of NV Gold.
On behalf of the Board of Directors,
John E. Watson
President & CEO
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration activities, the interpretation of the resistive blanket as having come from higher grade feeder structures and a continuation of the gold system identified in the UVP, the appearance that previous drilling only peripherally intercepted the southwestern edges of two much larger, potentially mineralized resistor zones, the interpretations of the mapping exercise and the dimensions of the strike length and width are forward-looking statements that involve various risks and uncertainties. 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. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the lack of continuity of mineralization, the extent to which mineralized structures extend on to the Company's Projects and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
Figure 1 - Geologic map of the Slumber Gold Project in Humboldt County, Nevada. Drill holes from 2019 and 2020 are plotted. Only SL-09, SL-02 and SL-14 are projected on the cross-section A-A' (Figure 2). SL21-1,2 & 3 are planned for Q4 Program (To view the full-size image, please click here)
Figure 2 - Cross section of A to A'. The volcanic vent and potential feeder of the Slumber gold system is interpreted on the north end of the property. (SL-2 and SL-14 showing anomalous gold values) (To view the full-size image, please click here)
Figure 3 - Newly Discovered Resistor / Interpreted Near-Surface Oxide Gold Mineralization (To view the full-size image, please click here)
Figure 4 - CSAMT depth slices at different elevation levels with plotted 2010/20 drill holes and recently permitted new drill locations (pink). The blue colors represent resistive rocks versus conductive rocks in red. (To view the full-size image, please click here)
Figure 5 - Leapfrog modeling is showing north-plunging, open Au-mineralization, and trace-element geochemistry (To view the full-size image, please click here)
Figure 6 - Slumber Target with Hg overlay (To view the full-size image, please click here)
SOURCE: NV Gold Corporation
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UEX Repays Loan From Denison
Saskatoon, Saskatchewan – TheNewswire – September 17, 2021 – UEX Corporation (TSX:UEX) (OTC:UEXCF) (“UEX” or the “Company”) is pleased…
Saskatoon, Saskatchewan – TheNewswire - September 17, 2021 – UEX Corporation (TSX:UEX) (OTC:UEXCF) (“UEX” or the “Company”) is pleased to announce that the Company has repaid its outstanding term loan (the “Term Loan”) from Denison Mines Corp. (“Denison”). The Term Loan was used by UEX to purchase JCU (Canada) Exploration Company, Limited (“JCU”), as more particularly described in UEX’s news release dated August 3, 2021.
UEX repaid the outstanding balance of C$20.45 million to Denison on September 17, 2021. Previously, C$20.5 million of the Term Loan was repaid upon UEX transferring 50% of the JCU shares to Denison immediately following the closing of the JCU acquisition (see UEX’s news release dated August 3, 2021). The shares of JCU owned by UEX that were pledged as security to Denison have been released to UEX.
UEX is a Canadian uranium and cobalt exploration and development company involved in an exceptional portfolio of uranium projects.
UEX’s directly-owned portfolio of projects is located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt which in 2020 accounted for approximately 8.1% of the global primary uranium production. In addition to advancing its uranium development projects through its ownership interest in JCU, UEX is currently advancing several other uranium deposits in the Athabasca Basin which include the Paul Bay, Ken Pen and Ōrora deposits at the Christie Lake Project , the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project, the Horseshoe and Raven deposits located on its 100%-owned Horseshoe-Raven Development Project and the West Bear Uranium Deposit located at its 100%-owned West Bear Project.
UEX is also 50:50 co-owner of JCU with Denison. JCU’s portfolio of projects includes interests in some of Canada’s key future uranium development projects, notably a 30.099% interest in Cameco’s Millennium Uranium Development Project, a 10% interest in Denison Mines Wheeler River Project, and a 33.8123% interest in Orano Canada’s Kiggavik Project, located in the Thelon Basin in Nunavut, as well as minority interests in nine other grassroots uranium projects in the Athabasca Basin.
UEX is also leading the discovery of cobalt in Canada, with three cobalt-nickel exploration projects located in the Athabasca Basin of northern Saskatchewan, including the only primary cobalt deposit in Canada. The 100% owned West Bear Project hosts the West Bear Cobalt-Nickel Deposit, the newly discovered Michael Lake Co-Ni Zone, and the West Bear Uranium Deposit. UEX also owns 100% of two early-stage cobalt exploration projects, the Axis Lake and Key West Projects.
FOR FURTHER INFORMATION PLEASE CONTACT
President & CEO
This news release contains statements that constitute "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information is based on a number of assumptions, which may prove to be incorrect. The actual results could differ materially from those anticipated in such forward-looking information as a result of the risk factors including: the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking information. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Copyright (c) 2021 TheNewswire - All rights reserved.drilling tsx-uex uex-corporation acquisition press-release
American Manganese Files Final Prospectus and Amended Disclosure Documents
VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce…
VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce that the Company has filed on SEDAR (www.sedar.com) its final short form base shelf prospectus and an amended technical report (the "Amended Technical Report") for its Rocher Deboule mineral property (the "Property"). The Company has also filed and an amended annual information form for the year ended July 31, 2020 (the "Amended AIF").
As a result of a prospectus review by the British Columbia Securities Commission, certain revisions were made to the technical report for the Property which was originally published on October 25, 2020. The Amended Technical Report contains no material differences to the original technical report for the Rocher Deboule Project. The Amended AIF incorporates the executive summary from the Amended Technical Report and is thus accordingly amended; it contains no material differences from the original annual information form filed on June 8, 2021.
About American Manganese Inc.
American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.
For more information, please contact:
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
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", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.
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Erin Ventures Announces Proposed Private Placement
VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the…
VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the TSX Venture Exchange (the "TSXV"), it intends to complete a private placement offering of up to 6,666,667 units of the Company ("Units") at a price of $0.075 per Unit for gross proceeds of approximately $500,000 (the "Offering").
Each Unit in this Offering will be comprised of one (1) common share in the capital of the Company (a "Share") and one (1) common share purchase warrant (each, a "Warrant"). Each Warrant will have a two (2) year term and will be exercisable into one (1) Share at a price of $0.10.
The Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price of $0.15 for more than ten (10) consecutive trading days during the Exercise Period, Erin shall have the right to give written notice to the holder requiring the holder to exercise the Warrant, in whole or in part, within a period of thirty (30) days from the date of receipt of notice from Erin.
The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation. The Private Placement remains subject to the approval of the TSXV.
The net proceeds from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV" and the OTCQB Venture Market under the symbol "ERVFF". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.
Erin's Public Quotations
TSX Venture: EV
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.
Forward Looking Statements:
This release contains forward looking statements. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.
SOURCE: Erin Ventures Inc.
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