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Pershimex Confirms the Presence of Gold Mineralization in the Surface Crown Pillar of the Former Pershing-Manitou Gold Mine

VAL-D’OR, Québec, Sept. 21, 2021 (GLOBE NEWSWIRE) — Pershimex Resources Corporation ("Pershimex" or the "Company") (TSX VENTURE: PRO) is pleased…

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VAL-D’OR, Québec, Sept. 21, 2021 (GLOBE NEWSWIRE) — Pershimex Resources Corporation (“Pershimex” or the “Company”) (TSX VENTURE: PRO) is pleased to announce its most recent results of the additional channel sampling work carried out on the surface crown pillar of the former Pershing-Manitou gold mine as part of the resource estimation work in accordance with National Instrument 43-101 undertaken in early 2021 by Solution 3DGéo Inc. (“3DGS”).

The mineralized system which was exposed by stripping in early summer 2021 and visible gold can be observed in more than thirty locations on the outcrop. A total of three channels (A1-A2-A3) were positioned directly in the heart of the orebody in the vertical projection of the interpreted mineralized zones in order to validate the continuity up to the surface of the high-grade mineralization intercepted by drilling at a depth of approximately 15 m.

The longest and most easterly channel is the A3 (see figure). This is located near the PM-20-04 drill hole and returned 11.7 g/t Au over 6.5 meters including 3 ounces of gold/ton (93.4 g/t Au) over 0.5 meter. The A2 channel, which is centrally located, returned 11.6 g/t gold over 4.0 meters including 1.86 ounces of gold/ton (58 g/t Au) over 0.5 meter. The A1 channel, which is the most westerly and closest to the old mine shaft, returned 6.2 g/t of gold over 5.5 meters including 27 g/t Au over 0.5 meter.

Results table

Channel Number Grade
(g/t Au)
Length
(m)
Metal Factor
(g/t Au *m)
A1 6.2 5.5 34.1
Including 27 0.5  
A2 11.6 4 46.4
Including 58 0.5  
A3 11.7 6.5 76.1
Including 93.4 0.5  

These channel samples were necessary for the resource estimation work currently underway. Although the interpretation of mineralized zones already considers the geology of the outcrop and the geometry of the mineralized zones, the quantitative validation of high grades interpolated at the surface, based on drilling data, minimizes the uncertainties and risks inherent in the method used to estimate the resource.

This will therefore make it possible to specify, with a much greater level of confidence, the position of a volume of mineralized rocks of 5,000 tons representative of the high-grade mineralized zones interpreted by 3DGS. The definition of such a volume will allow us to apply for a bulk sampling permit from the Ministère des Ressources Naturelles du Québec. The restoration plan was already submitted last June and the Company is currently in the process of drafting answers to the questions requested by the ministry. The bulk sampling of 5,000 tons will mainly allow us to know the real gold content, to confirm the methods of analysis and to generate a possible income with the sale of the ounces of gold that will be produced. The results of the full resource estimate including the surface pillar of the former Pershing-Manitou mine will be available and made public in the coming weeks.

Robert Gagnon, President and Chief Executive Officer of the Company, said: “This channel sampling campaign on the surface crown pillar of the former Pershing-Manitou gold mine will allow us to model a block of 5,000-tons of mineralized material with an optimal gold content. As soon as the resource estimation work is completed and made public, we will initiate the bulk sampling permit application process with the Ministère des Ressources Naturelles du Québec in order of being one of the first junior exploration companies in Quebec to take advantage of the new amendment to section 69 of the Mining Act, which since March 2021, authorizes exploration companies to carry out bulk sampling not exceeding 5,000 tons.”

This press release was prepared by Robert Gagnon, Professional Geologist, and President of Pershimex, a qualified person under National Instrument 43-101. The channel samples measuring all 0.5 meter in length were shipped and analyzed by the ALS CHEMEX laboratory in Val-d’Or, using the pyroanalysis method. Gravimetric recoveries for contents greater than 10 grams were necessary.

For more information, please contact:

Robert Gagnon, President        
Tél.: (819) 825-2303

Warning

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 the information contained in this press release.

Facts stated in this press release that are not historical facts are “forward-looking statements” and readers are cautioned that such statements are not guarantees of success and that future developments and results may differ from those projected in such forward-looking statements. 

A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5c0ca081-d40a-46dd-9243-86b704a57e9f





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Lithium South Announces Closing Oversubscribed Non-Brokered Private Placement

Lithium South Announces Closing Oversubscribed Non-Brokered Private Placement
Canada NewsWire
VANCOUVER, BC, Oct. 26, 2021

VANCOUVER, BC, Oct. 26, 2021 /CNW/ — Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Fran…

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Lithium South Announces Closing Oversubscribed Non-Brokered Private Placement

Canada NewsWire

VANCOUVER, BC, Oct. 26, 2021 /CNW/ — Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) announces that, due to high demand, it has closed its oversubscribed non-brokered private placement (the “Private Placement”) issuing an aggregate of 16,150,000 units (the “Units”) at a price of CDN $0.40 per Unit raising gross proceeds of CDN $6,460,000

Each Unit is comprised of one common share (a “Share”) and one transferable common share purchase warrant (a “Warrant”).  Each Warrant will allow the holder to purchase one Share of the Company at a price of CDN $0.60 per Share for a period of three (3) years from the date of closing of the Private Placement.

Proceeds of the Private Placement will be used to advance the Company’s HMN Lithium Project, located in Salta Province, Argentina, and for general working capital purposes.

All securities issued will be subject to a four month hold period and the Exchange Hold Period.

The Company paid finder’s fees of CDN $426,368 and issued 1,065,920 finder’s warrants (the “Finder’s Warrants”) to Nathan Rotstein and Canaccord Genuity Corp.  The Finder’s Warrants are non-transferable and exercisable at CDN $0.60 per Finder’s Warrant for a period of three (3) years.

Company President Adrian F. C. Hobkirk quoted, “We are pleased to have received such strong support from the investment community. This financing will allow the Company to complete its objective of potentially expanding the high-quality lithium resource at the HMN Li Project and moving it forward to a Feasibility Study.”

About Lithium South

Lithium South is focused on developing the Hombre Muerto North Lithium Project (HMN Li Project), located on the Hombre Muerto Salar, a major lithium-producing salar in Argentina.  The property is adjacent to land under development by the Korean multinational corporation POSCO, which acquired the ground from Galaxy Resources Ltd. for US $280 million.  The Company completed a Preliminary Economic Assessment of the HMN Li Project in 2019, utilizing conventional evaporation extraction. The Company is focused on expanding the known resource and evaluating alternative extraction methods for the HMN Li Project. 

On behalf of the Board of Directors

Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100
website: www.lithiumsouth.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.

This news release contains certain “forward-looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements.  The reader is cautioned not to place undue reliance on forward- looking statements.  We seek safe harbor.

View original content:https://www.prnewswire.com/news-releases/lithium-south-announces-closing-oversubscribed-non-brokered-private-placement-301408481.html

SOURCE Lithium South Development Corporation







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QuestEx Gold & Copper Completes Final Option Payment on the Moat Property, Adjacent to Newmont’s Tatogga Property, Earning a 100% Interest

QuestEx Gold & Copper Completes Final Option Payment on the Moat Property, Adjacent to Newmont’s Tatogga Property, Earning a 100% Interest
Canada NewsWire
VANCOUVER, BC, Oct. 26, 2021

VANCOUVER, BC, Oct. 26, 2021 /CNW/ – QUESTEX GOLD & COPP…

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QuestEx Gold & Copper Completes Final Option Payment on the Moat Property, Adjacent to Newmont’s Tatogga Property, Earning a 100% Interest

Canada NewsWire

VANCOUVER, BC, Oct. 26, 2021 /CNW/ – QUESTEX GOLD & COPPER LTD. (TSX-V: QEX) (“QuestEx” or the “Company“), is pleased to announce that it has completed the final payment in accordance with a mineral property option agreement on the Moat property (the “Moat Option Agreement“), which is located adjacent to Newmont Corporation‘s (“Newmont“) Tatogga property in British Columbia’s (“BC“) Red Chris Mining district (Figure 1). A total of 881,612 common shares of QuestEx with a value of $700,000 were issued to the vendors, a group of arms-length individuals, on October 25, 2021. QuestEx now holds a 100% interest in the Moat property.

Joe Mullin, CEO of QuestEx comments: “The Red Chris District is one of the most active and exciting areas within British Columbia’s prolific Golden Triangle.  It boasts recent development of a new mine (Red Chris), new discoveries at Saddle North and Saddle South, definition of large and rich gold and copper resources at Saddle North and Red Chris, and the active participation of two global mining giants, Newmont and Newcrest. With the acquisition of the Moat property, QuestEx now has 100% ownership of its entire 40,452 hectare land package within this rapidly growing mining and exploration district. The Moat property occupies prospective and strategic ground adjacent to Newmont’s recently purchased Tatogga property (see fourth bullet point below), and geological evidence suggests that the Saddle North and Saddle South mineral trends on the Tatogga property cross the boundary onto QuestEx’s property. The Moat property is an outstanding addition to our already enviable land position in the district.”

Recent Corporate and Geological Activity in The Red Chris District
QuestEx has one of the largest land packages in the Red Chris District with 100% ownership of mineral tenures covering 40,452 hectares (“ha“). The district is located within the territory of the Tahltan First Nation, in the northern tip of BC’s Golden Triangle and has seen extraordinary geological and corporate activity since 2019 including:

  • August 15, 2019, Newcrest Mining Limited (“Newcrest“) purchases a 70% interest in the Red Chris Mine from Imperial Metals for US$804 million (“M“).
  • May 1, 2020, Newcrest purchases the GJ property from Skeena Resources.
  • July 6, 2020, GT Gold Corp (“GT Gold“) releases an inaugural Mineral Resource Estimate for Saddle North, which contains 3.5M ounces (“oz“) gold (“Au“) and 1,809M pounds (“lb“) copper (“Cu“) Indicated and 5.5M oz Au and 2,982M lb Cu Inferred.
  • March 10, 2021, Newmont and GT Gold announce the sale of GT Gold to Newmont in an all-cash transaction valuing GT Gold at C$456M.
  • March 31, 2021, Newcrest releases an updated Mineral Resource Estimate for Red Chris, which contains 13M oz Au and 3.7M tonnes Cu Measured and Indicated, and 1.9M oz Au and 0.57M tonnes Cu Inferred.
  • April 16, 2021, Newmont participates in QuestEx financing, purchasing 2,425,790 shares in QuestEx, maintaining its 16.13% equity interest in the Company and its rank as QuestEx’s largest shareholder.
  • October 12, 2021, Newcrest releases Red Chris Block Cave Pre-Feasibility Study outlining an estimated initial 31 year mine life, 17% internal rate of return, and C$2.3 billion net present value.

The Moat and Castle Properties
The 1,691 ha Moat property occupies an elongated belt on the east side of QuestEx’s 100% owned Castle property where it borders Newmont’s Tatogga property (with the Saddle North Cu-Au-Silver (“Ag“) deposit, and Saddle South Au-Ag discovery; Figure 1). The Castle-Saddle trend, which is prospective for porphyry copper-gold systems similar to Saddle North, spans approximately 10 kilometres (“km“) from Newmont’s Saddle North deposit westwards onto QuestEx’s now 100% owned Moat property and the Castle property (Figure 1) where porphyry style mineralization has been intersected by shallow drilling at Castle Main and Castle East (e.g. 2.14% Cu, 4.88 grams per tonne (“g/t“) Au and 73.2 g/t Ag over 4 metres (“m“) in historical drill hole CA13-03). Now combined, the Castle and Moat properties contain approximately 6.5 km of the overall 10-km-long, highly prospective, Castle-Saddle trend. In addition to containing ground prospective for Saddle North style porphyry Cu-Au mineralization, geological work conducted by QuestEx in 2020 documented mineral systems on the Moat property that may be continuations of those found at Saddle South on the Tatogga Property (see news releases 21-01 and 21-06 titled “QuestEx Gold & Copper tracks indications of Gold-Silver-Copper mineralization west from GT Gold‘s Saddle South onto Castle”).

We seek safe harbor.

Qualified Person
Tony Barresi, Ph.D., P.Geo., QuestEx’s President, a Qualified Person within the meaning of National Instrument (“NI“) 43-101, has reviewed and approved the technical information in this news release. 

About QuestEx
QuestEx Gold & Copper Ltd. is exploring for gold and copper with a focus on the Golden Triangle and Toodoggone areas of British Columbia, Canada. It has 100% ownership of one of the largest portfolios of mineral tenures in British Columbia’s metal-rich Golden Triangle. The portfolio includes the 312 square kilometre KSP property, which is surrounded by some of the most important past and current mining and development projects in British Columbia (e.g. Eskay Creek, Snip, Brucejack, KSM, Johnny Mountain); QuestEx intends to release a NI 43-101 mineral resource estimate for the Inel gold system, located on the KSP property, in 2022. In the northern corner of the Golden Triangle in the Red Chris mining district QuestEx’s portfolio includes the Castle property, a porphyry copper-gold project located adjacent to Newmont’s Tatogga property, and along trend of the Saddle North porphyry copper-gold deposit (>10 million ounces gold, in all categories). Other properties include North ROK, Coyote, and Kingpin in the Golden Triangle, Sofia in the Toodoggone district, and Heart Peaks and Hit in other strategic districts within British Columbia. These assets are being advanced by a newly assembled technical and management team with experience in exploration, permitting and discovery.

ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD & COPPER LTD.
“Joseph Mullin”
Joseph Mullin
Chief Executive Officer and Director

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of TSX-V) accepts responsibility for the adequacy or accuracy of this release.

NR 21-17

Cautionary Note Regarding Forward-Looking Statements

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company’s periodic filings with Canadian securities regulators as well as the risk that the ongoing COVID-19 pandemic may have on the Company’s business. Important factors could cause actual results to differ materially from QuestEx expectations. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. QuestEx does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

SOURCE QuestEx Gold & Copper Ltd.






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E3 Metals Begins Trading on the OTCQX Market

E3 Metals Begins Trading on the OTCQX Market
Canada NewsWire
CALGARY, AB, Oct. 26, 2021

CALGARY, AB, Oct. 26, 2021 /CNW/ – E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the “Company” or “E3 Metals”), an emerging lithium developer and leadi…

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E3 Metals Begins Trading on the OTCQX Market

Canada NewsWire

CALGARY, AB, Oct. 26, 2021 /CNW/ – E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the “Company” or “E3 Metals”), an emerging lithium developer and leading direct lithium extraction (“DLE”) technology innovator, is pleased to announce that it has qualified to trade on the OTCQX Best Market and upgraded to OTCQX from the Pink market. Today, its common shares begin trading on the OTCQX Best Market under the ticker symbol of EEMMF. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on https://www.otcmarkets.com/. E3 Metals common shares will continue to trade on the TSX Venture Exchange under the symbol ETMC, and on the Frankfurt Stock Exchange under the symbol OU7A.

The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade EEMMF. It is also the highest market tier of OTC Markets on which 11,000 U.S. and global securities trade. Upgrading to the OTCQX Market is an important step for E3 Metals, as it provides transparent trading, visibility, and accessibility for its U.S. investors. Being listed on a qualified international exchange enables E3 Metals to utilize its home market reporting to make its information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

“We are pleased to reach the milestone of trading on OTCQX,” commented Chris Doornbos, President & CEO. “It provides US investors additional access to invest in the Company as the lithium and battery metal sectors continue to gather momentum. It has been a key part of our strategy to grow our international shareholder base and promote greater liquidity as we continue our focus on our Clearwater Lithium Project.”

Greenberg Traurig LLP acted as the company’s OTCQX sponsor.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, PTC Market Group Inc. connects a diverse network of broker dealers that provide liquidity and execution services. The company enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. To learn more about how OTC Markets Group Inc. creates better informed and more efficient markets, visit www.otcmarkets.com.

About E3 Metals Corp.
E3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Metals’ goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to market from one of the best jurisdictions in the world. For more information about E3 Metals, visit http://www.e3metalscorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS,

Chris Doornbos, President & CEO
E3 METALS CORP.

1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Sept 17, 2012. E3 Metals has also released three NI 43-101 Technical Reports providing a total resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE (inferred) effective Sept 17, 2021; the North Rocky Resource Area (NRRA) Technical Report effective October 27, 2017 identifying 0.9Mt LCE (inferred); and the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated Sept 17, 2021. All reports are available on the Company’s website (e3metalscorp.com/technical-reports) and SEDAR (www.sedar.com)

Forward-Looking and Cautionary Statements

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE e3 Metals Corp.






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