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Quaterra Resources Awards Contract for the Further Advancement of Its MacArthur Oxide Copper Project in Yerington, Nevada

Vancouver, British Columbia–(Newsfile Corp. – October 27, 2021) – Quaterra Resources Inc. (the "Company") (TSXV: QTA) (OTCQB: QTRRF) is pleased to announce…

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Vancouver, British Columbia–(Newsfile Corp. – October 27, 2021) – Quaterra Resources Inc. (the “Company“) (TSXV: QTA) (OTCQB: QTRRF) is pleased to announce that it has awarded McClelland Laboratories, Inc. (“McClelland“) a key contract to support the advancement of the MacArthur oxide copper project.

McClelland has been appointed to complete the metallurgical testing program of the 12 ton (11 tonne) representative sample collected in the 2021 drilling campaign (see news release dated October 6, 2021, “Quaterra Resources Announces Positive Assay Results at MacArthur Copper Project, Nevada and Potential for Resource Expansion“). McClelland will perform variability testing on fifteen leach columns through Q2 2022 in order to further validate the metallurgical parameters to be utilized in the MacArthur Pre-Feasibility Study (“PFS“).

McClelland, based in Sparks, Nevada, maintains a 44,000 square-foot facility and has been a leader in servicing the mining industry for over 33 years.

Quaterra CEO Travis Naugle states, “We are very pleased to have engaged with a leading Nevada-based contractor to advance a key aspect of the MacArthur PFS so soon after the recently announced oversubscribed private placement. We look forward to continuing with further important steps on the MacArthur oxide copper project.”

About Quaterra Resources Inc.
Quaterra Resources Inc. is a copper-gold development and exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its MacArthur oxide copper project in the historic Yerington Copper District, Nevada. It continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.

On behalf of the Board of Directors,
Stephen Goodman
President

For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057
Email: [email protected]
Website: www.quaterra.com

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Technical information contained in this news release has been reviewed and approved by Travis Naugle, MMSA QP, the Company’s CEO and a director, and a qualified person as defined in National Instrument 43-101.

Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100981






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Baselode Reports High-Grade Uranium Within 15.5 Metre Mineralized Zone at ACKIO Discovery

Baselode Reports High-Grade Uranium Within 15.5 Metre Mineralized Zone at ACKIO Discovery
Canada NewsWire
TORONTO, Dec. 6, 2021

TORONTO, Dec. 6, 2021 /CNW/ – Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (“Baselode” or the “Company”) is pleased…

Baselode Reports High-Grade Uranium Within 15.5 Metre Mineralized Zone at ACKIO Discovery

Canada NewsWire

TORONTO, Dec. 6, 2021 /CNW/ – Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (“Baselode” or the “Company“) is pleased to report Uranium assay results from the first diamond drill hole, AK21-01, of the recent ACKIO Uranium discovery (“ACKIO“) on the Hook project (“Hook“), Athabasca Basin area, northern Saskatchewan.

Highlights include:

  • High-grade* Uranium confirmed; 1.29 wt% U3O8 over 0.5 m at 138.8 m and 0.66 wt% U3O8 over 0.5 m at 142.3 m
  • Primary mineralized zone measuring 15.5 m of 0.13 wt% U3O8 starting at 134.3 m
  • Multiple uranium intersections occurring over 200 m of drill hole length.

“We are very excited with the confirmation of high-grade Uranium at ACKIO. The ACKIO discovery is beginning to take shape; with high-grade Uranium intersected near-surface, multiple and widespread zones of mineralization, and an alteration halo that exceeds over 230 m which is suggestive of a massive structurally-controlled fluid system.  We are still in the early days of exploring and learning more about ACKIO but these assay results from AK21-01 have provided us with invaluable information to help us plan our next steps accordingly,” said James Sykes, CEO, President and Director of Baselode. 

The Company will follow this news release with a video presentation for the public in the coming days that will provide encouraging comparisons with other notable Athabasca basement-hosted, high-grade Uranium deposits, such as 1) NexGen Energy‘s (TSX:NXE) Arrow deposit, and 2) Denison Mines (TSX:DML) Gryphon deposit.  The video presentation will also highlight the significance of elevated Cobalt, Copper, and Nickel intersected within the drill hole, as well as the extent and meaning of anomalous Boron, Lithium and Vanadium within the massive alteration halo.

Assay results from the remaining drill holes (AK21-02A to AK21-04) completed on ACKIO in the summer program will be released after they’ve all been received, quality checked, and approved by the Company’s technical team.

Planned Winter Drill Program on ACKIO
Baselode is planning for a 10,000 metre diamond drill program on the ACKIO discovery to begin in mid- to late-January.  Drill holes will be planned to intersect mineralization along strike and dip, which remains open in all directions, and to test for unconformity-style of mineralization.  The drill program will be operated with helicopter support to lessen any ground-induced environmental impacts within the project area. 

ACKIO is located 30 km southeast of well-established infrastructure including an all-season road and powerline that runs between Cameco Corp.’s (TSX: CCO) and Orano’s McArthur River mine and Key Lake Uranium mill joint ventures.  ACKIO is located 70 km northeast of the Key Lake mill. 

NOTES:

 *    Baselode considers “high-grade” to be uranium mineralization with a concentration greater than 0.5 wt% U3O8

1.    All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.

About Baselode Energy Corp.
Baselode currently controls 100% of approximately 227,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

Baselode’s Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complemented by the Company’s preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.

QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Projects Manager for Baselode Energy Corp., who is considered to be a  Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

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

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company’s filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

TABLE 1: HOOK PROJECT – SUMMER 2021 DRILL HOLE U3O8 ASSAY RESULTS

DDH*

Target
Area

Az*

Dip

EOH*
(m)

Easting

Northing

Elevation

AK21-01

ACKIO

270

-60

471.0

526,245

6,372,955

467

From
(m)

To (m)

Interval (m)

Vertical
Depth (m)

U3O8 (wt%)

126.80

128.80

2.00

108.50

0.05

130.30

130.80

0.50

111.50

0.06

134.30

149.80

15.50

115.00

0.13

includes

138.80

139.30

0.50

118.90

1.29

and

142.30

142.80

0.50

121.90

0.66

284.60

285.80

1.20

244.40

0.06

366.70

367.70

1.00

315.50

0.05

368.80

369.20

0.40

317.30

0.06

Cut-off grade = 0.045 wt% U3O8

Maximum consecutive internal dilution = 2.0 m down hole

True widths have yet to be determined

*”DDH” refers to “diamond drill hole”, “Az” refers to “drill hole azimuth” and “EOH” refers to “End of Hole”

“Easting”, “Northing” are both measured in metres, NAD83 Datum, UTM Zone 13N

“Elevation” is presented as “metres above sea level”

“Vertical Depth” is presented as “metres below surface”

 

SOURCE Baselode Energy Corp.












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InvestmentPitch Media Video Discusses Great Atlantic’s Intersection of Two High-Grade Gold Veins from hole GP-21-150, the Second Drill Hole of the 2021 Diamond Drilling Program at its Golden Promise Gold Property, Newfoundland – Video Available on Investm

VANCOUVER, British Columbia, Dec. 06, 2021 (GLOBE NEWSWIRE) — Great Atlantic Resources (TSXV:GR) (FSE:PH02) intersected two high grade gold veins from…

VANCOUVER, British Columbia, Dec. 06, 2021 (GLOBE NEWSWIRE) — Great Atlantic Resources (TSXV:GR) (FSE:PH02) intersected two high grade gold veins from hole GP-21-150, the second drill hole of the 2021 diamond drilling program at its Golden Promise Gold Property. The company’s 100% owned Golden Promise Property is one of the company’s eight properties, which cover a total area of 25,700 hectares within the central Newfoundland gold belt. The summer 2021 drilling at the Jaclyn Zone was part of the company’s Phase 2 drilling at this Zone.

A video accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f5761863-d2ca-4935-9119-ee29ced473e2

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “investmentpitch.com” and on “YouTube”. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Great Atlantic” in the search box.

Eight drill holes were completed during the summer drilling, five at the Jaclyn Main Zone and three at the Jaclyn North Zone. The objective of drilling at the Jaclyn Main Zone is to further define the zone and provide information for an updated resource estimate of the Jaclyn Main Zone.

GP-21-150, drilled within the west region of the Jaclyn Main Zone, the second hole of the summer 2021 drilling program, is an in-fill drill hole. It was drilled between two 2019 drill holes, GP-19-138 and 143B, both of which intersected high grade gold mineralization in separate veins. The 111-meter hole was drilled at an approximate 50-degree dip to the northwest, approximately 310 degrees relative to True North, to further confirm and define multiple gold bearing veins in this part of the Jaclyn Main Zone.

The gold assays confirm that two high grade quartz veins were intersected by this hole. A 0.50-meter core length sample, starting at 30.00 meters, contained a quartz vein with visible gold returning 20.13 grams per tonne gold. A 0.35-meter core length sample, starting at 76.20 meters, being part of a quartz vein with visible gold, returned 75.58 grams per tonne gold. Management interprets both veins to be part of the Jaclyn Main Zone vein system.

Sample 518229 which returned 0.66 grams per tonne gold is altered wall rock adjacent to the gold bearing vein in sample 518228. Sample 518243 which returned 0.62 grams per tonne gold contains a narrow, fractured quartz-carbonate vein, less than 2 centimeters true thickness, at a shallow angle to core axis.

Of the first five holes, GP-21-149 to 153, completed during 2021 at the Jaclyn Main Zone, visible gold was intersected in quartz veins in four of these holes. Drill hole GP-21-149, reported on November 9th, intersected a high-grade gold vein with 238.4 grams per tonne gold over a 0.40-meter core length. Assays are pending on 3 holes, with additional drilling planned at the Jaclyn Zone during 2022

In 2018, the company reported a NI 43-101 compliant inferred resource estimate of 357,000 tonnes at 10.4 grams per tonne gold for 119,000 ounces uncapped at the Jaclyn Main Zone. Because part of the vein is near surface, the resource estimate was constrained by a conceptual open pit to demonstrate reasonable prospects of eventual economic extraction.

The company confirmed high-grade gold at the Jaclyn Main Zone during initial 2019 drilling, including near surface intercepts of 113.07 grams per tonne gold over 0.55 meters, 61.35 grams per tonne gold over 2.04 meters and 15.8 grams per tonne over 2.70 meters plus an interval of multiple gold bearing veins in GP-19-140 averaging 2.30 grams per tonne gold over 25.25 meters.

The Golden Promise Property, located within the Exploits Subzone of the Newfoundland Dunnage Zone, is within a region of recent significant gold discoveries. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major collisional boundary, and suture zone, known as the RIL, which forms the western boundary of the Exploits Subzone.

Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Viewers are warned that mineralization at the Valentine Gold Project, the Moosehead Gold Project, the Queensway Project, and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization on the company’s Golden Promise Property.

Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.

The shares are trading at $0.26. For more information, please visit the company’s website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email [email protected]. For Investor Relations contact Andrew Job at 416-628-1560 or [email protected].

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000’s of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers information only. Great Atlantic has paid a fee not exceeding $2,000 in cash to have news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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SolGold PLC Announces Regional Exploration Update – Porvenir

Hole 19 at Porvenir’s Cacharposa returns one of the best intersections to dateBISHOPSGATE, UK / ACCESSWIRE/ December 6, 2021 / The Board of Directors of…

Hole 19 at Porvenir’s Cacharposa returns one of the best intersections to date

BISHOPSGATE, UK / ACCESSWIRE/ December 6, 2021 / The Board of Directors of SolGold (LSE:SOLG)(TSX:SOLG) is pleased to provide an update on the Regional Exploration programme in Ecuador at the Porvenir held by Green Rock Resources S.A., a 100% owned and unencumbered subsidiary of SolGold.

HIGHLIGHTS:

  • Drill holes 14 – 22 at Cacharposa have intersected further significant copper and gold mineralisation.
  • Hole 19 returned one of the best intersections to date with 722m @ 0.66% copper equivalent (“CuEq”) [1] from surface.
  • Significant intersections include:
    • PDH-21-019: 722m @ 0.66% CuEq from surface including 118m @ 1.13% CuEq from 12m
    • PDH-21-018: 124m @ 0.76% CuEq from 478m
    • PDH-21-016: 140m @ 0.47% CuEq from 408m
    • PDH-21-014: 132m @ 0.44% CuEq from 756m
  • Recent drilling results continue to delineate a near surface, large, mineralised porphyry system at Cacharposa that remains open.
  • Work is advancing on a maiden Mineral Resource Estimate (“MRE”) for the Cacharposa deposit that is expected later this month.
  • Drilling is ongoing at Porvenir with three drill rigs on site testing mineralisation at Cacharposa and surrounding targets.

SolGold’s Executive Board Member and Head of Exploration, Mr Jason Ward, commented on today’s update at Porvenir:

“Results from Cacharposa continue to improve with Hole 19 representing one of the best intersections to date at the Porvenir project. Mineralisation in this hole commenced from surface and attests to the economic potential of this project. Cacharposa continues to grow and with numerous other nearby mineralised targets identified, we believe the Porvenir project has the potential to become a Tier 1 copper – gold porphyry camp.”

References to figures relate to the version visible in PDF format by clicking the link below:

http://www.rns-pdf.londonstockexchange.com/rns/5460U_1-2021-12-3.pdf

FURTHER INFORMATION

Porvenir Project: Cacharposa Target

The Porvenir project is located approximately 100km north of the Peruvian border (Figure 1), in southern Ecuador and approximately 100km south of the 9.48 Moz Au Fruta Del Norte deposit [2]. The Company’s Porvenir project is held by Green Rock Resources S.A., a 100% owned and unencumbered subsidiary of SolGold.

The Cacharposa porphyry copper-gold target is part of a 1,700m long northerly-trending mineralised corridor, up to 1,000m wide. The target is characterised by coincident Cu, Mo, Au and Cu/Zn soil anomalies that lie central to a zone of Mn-depletion in soil. Reduced-to-the-pole (“RTP”) magnetics exhibit a central magnetic high surrounded by an annular magnetic low. These characteristics together are typical of numerous significant porphyry deposits globally, several of which have become mines.

Drill holes 14-22 at Cacharposa intersected significant copper and gold mineralisation, including a significant intercept of 722m @ 0.66% CuEq (0.52% Cu, 0.23g/t Au) representing close to 480m%[3] CuEq in hole 19 (Figure 2 & 3). Selected highlights of final drill hole assays received from Holes 14-19 include:

  • PDH-21-014: 132m @ 0.44% CuEq from 756m
  • PDH-21-016: 140m @ 0.47% CuEq from 408m
  • PDH-21-018: 124m @ 0.76% CuEq from 478m
  • PDH-21-019: 722m @ 0.66% CuEq from surface including 118m @ 1.13% CuEq from 12m
  • PDH-21-020: 122m @ 0.44% CuEq from 8m
  • PDH-21-021: 166m @ 0.38% CuEq from 182m

Significant intersections from final assays in drill holes 14-22 at Cacharposa are shown in Table 1.

The interpreted orientation of the Cacharposa intrusive complex and its associated porphyry copper-gold mineralisation is subvertical, dipping approximately 75 degrees to the northwest. The true width of down-hole intersections reported are therefore expected to be approximately 55-75% of the down-hole lengths, depending on the orientation of any given drill hole.

Three drilling rigs are currently operating at Porvenir continuing to delineate the extents of mineralisation at Cacharposa along with testing other nearby mineralised targets at Mula Muerte and Viño at the Porvenir project.

Drilling of hole 26 will commence shortly at Cacharposa and assays from completed holes 23-25 are pending.

Work is advancing on a maiden MRE for Cacharposa expected later this month with internal preliminary estimates indicative of a significant prospective resource that appears amenable to bulk surface mining methods.

[1] Copper equivalency factor of 0.632 (whereby CuEq = Cu + Au x 0.632) is based on third party metal price research, forecasting of Cu and Au prices, and a cost structure from mining studies data available from a similar deposit. Costs include mining, processing and general and administration (G&A). Net Smelter Return (NSR) includes metallurgical recoveries and off-site realisation (TCRC) including royalties and utilising metal prices of Cu at US$3.30/lb and Au at US$1,700/oz.

[2] Fruta Del Norte Mineral Resources, inclusive of Mineral Reserves. https://lundingold.com/en/fruta-del-norte/reserves-and-resources.

[3] Metre percent Copper Equivalent (m% CuEq) = interval length (m) x grade of the entire interval (CuEq%). M% CuEq calculation provides a standardised measure of comparing drilling intercepts by calculating an analogous interval length that would hold a CuEq% grade of 1% for each metre within the selected interval.

Figure 1: Location Map. SolGold’s Porvenir Project in southern Ecuador

Table 1: Selected significant intercepts achieved at the Cacharposa Deposit in Holes 14 – 22.

Figure 2: Cacharposa Drilling Plan at Porvenir showing selected highlights of drilling results to date, over topography and current 3D Numerical Models at > 0.1%, >0.4% and >0.7% CuEq cut-off grades.

Figure 3: Central Cross-section A-A’ looking north-northeast with window thickness of 100m and showing assay results received to date over current 3D Numerical Modelling at > 0.1%, >0.4% and >0.7% CuEq cut-off grades.

Certain information contained in this announcement would have been deemed inside information.

Qualified Person:

Information in this report relating to the exploration results is based on data reviewed by Mr Jason Ward ((CP) B.Sc. Geol.), the Chief Geologist of the Company. Mr Ward is a Fellow of the Australasian Institute of Mining and Metallurgy, holds the designation FAusIMM (CP), and has in excess of 20 years’ experience in mineral exploration and is a Qualified Person for the purposes of the relevant LSE and TSX Rules. Mr Ward consents to the inclusion of the information in the form and context in which it appears.

By order of the Board

Dennis Wilkins

Company Secretary

CONTACTS

Dennis Wilkins

SolGold Plc (Company Secretary)

[email protected]

Tel: +61 (0) 417 945 049

Ingo Hofmaier

SolGold Plc (Acting CFO)

[email protected]

Tel: +44 (0) 20 3823 2130

Fawzi Hanano / Lia Abady

SolGold Plc (Investors / Communication)

[email protected] / [email protected]

Tel: +44 (0) 20 3823 2130

Tavistock (Media)

Jos Simson/Gareth Tredway

Tel: +44 (0) 20 7920 3150

Follow us on twitter @SolGold_plc

ABOUT SOLGOLD

SolGold is a leading resources company focussed on the discovery, definition and development of world-class copper and gold deposits. In 2018, SolGold’s management team was recognised by the “Mines and Money” Forum as an example of excellence in the industry and continues to strive to deliver objectives efficiently and in the interests of shareholders. SolGold is aggressively exploring the length and breadth of this highly prospective and gold-rich section of the Andean Copper Belt which is currently responsible for c40% of global mined copper production.

The Company operates with transparency and in accordance with international best practices. SolGold is committed to delivering value to its shareholders, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.

Dedicated stakeholders

SolGold employs a staff of over 800 employees of whom 98% are Ecuadorean. This is expected to grow as the operations expand at Alpala, and in Ecuador generally. SolGold focusses its operations to be safe, reliable and environmentally responsible and maintains close relationships with its local communities. SolGold has engaged an increasingly skilled, refined and experienced team of geoscientists using state of the art geophysical and geochemical modelling applied to an extensive database to enable the delivery of ore grade intersections from nearly every drill hole at Alpala. SolGold has over 80 geologists on the ground in Ecuador exploring for economic copper and gold deposits.

About Cascabel and Alpala

The Alpala deposit is the main target in the Cascabel concession, located on the northern section of the heavily endowed Andean Copper Belt, the entirety of which is renowned as the base for nearly half of the world’s copper production. The project area hosts mineralisation of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. The project base is located at Rocafuerte within the Cascabel concession in northern Ecuador, an approximately three-hour drive on sealed highway north of the capital Quito, close to water, power supply and Pacific ports.

Having fulfilled its earn-in requirements, SolGold is a registered shareholder with an unencumbered legal and beneficial 85% interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel concession covering approximately 50km2. The junior equity owner in ENSA is required to repay 15% of costs since SolGold’s earn in was completed, from 90% of its share of distribution of earnings or dividends from ENSA or the Cascabel concession. It is also required to contribute to development or be diluted, and if its interest falls below 10%, it shall reduce to a 0.5% NSR royalty which SolGold may acquire for US$3.5million.

SolGold’s Regional Exploration Drive

SolGold is using its successful and cost-efficient blueprint established at Alpala, and Cascabel generally, to explore for additional world class copper and gold projects across Ecuador. SolGold is a large and active concessionaire in Ecuador.

The Company wholly owns four other subsidiaries active throughout the country that are now focussed on a number of high priority copper and gold resource targets, several of which the Company believes have the potential, subject to resource definition and feasibility, to be developed in close succession or even on a more accelerated basis compared to Alpala.

SolGold is listed on the London Stock Exchange and Toronto Stock Exchange (LSE/TSX: SOLG). The Company has on issue a total of 2,293,816,433 fully paid ordinary shares and 34,250,000 share options.

Quality Assurance / Quality Control on Sample Collection, Security and Assaying

SolGold operates according to its rigorous Quality Assurance and Quality Control (QA/QC) protocol, which is consistent with industry best practices.

Primary sample collection involves secure transport from SolGold’s concessions in Ecuador, to the ALS certified sample preparation facility in Quito, Ecuador. Samples are then air freighted from Quito to the ALS certified laboratory in Lima, Peru where the assaying of drill core, channel samples, rock chips and soil samples is undertaken. SolGold utilises ALS certified laboratories in Canada and Australia for the analysis of metallurgical samples.

Samples are prepared and analysed using 100g 4-Acid digest ICP with MS finish for 48 elements on a 0.25g aliquot (ME-MS61). Laboratory performance is routinely monitored using umpire assays, check batches and inter-laboratory comparisons between ALS certified laboratory in Lima and the ACME certified laboratory in Cuenca, Ecuador.

In order to monitor the ongoing quality of its analytical database, SolGold’s QA/QC protocol encompasses standard sampling methodologies, including the insertion of certified powder blanks, coarse chip blanks, standards, pulp duplicates and field duplicates. The blanks and standards are Certified Reference Materials supplied by Ore Research and Exploration, Australia.

SolGold’s QA/QC protocol also monitors the ongoing quality of its analytical database. The Company’s protocol involves Independent data validation of the digital analytical database including search for sample overlaps, duplicate or absent samples as well as anomalous assay and survey results. These are routinely performed ahead of Mineral Resource Estimates and Feasibility Studies. No material QA/QC issues have been identified with respect to sample collection, security and assaying.

Reviews of the sample preparation, chain of custody, data security procedures and assaying methods used by SolGold confirm that they are consistent with industry best practices and all results stated in this announcement have passed SolGold’s QA/QC protocol.

The data aggregation method for calculating Copper Equivalent (CuEq) for down-hole drilling intercepts and rock-saw channel sampling intervals are reported using copper equivalent (CuEq) cut-off grades with up to 10m internal dilution, excluding bridging to a single sample and with minimum intersection length of 50m.

Copper Equivalent is currently calculated (assuming 100% recovery of copper and gold) using a Gold Conversion Factor of 0.632 (whereby CuEq = Cu + Au x 0.632) is based on third party metal price research, forecasting of Cu and Au prices, and a cost structure from mining studies data available from a similar deposit. Costs include mining, processing and general and administration (G&A). Net Smelter Return (NSR) includes metallurgical recoveries and off-site realisation (TCRC) including royalties and utilising metal prices of Cu at US$3.30/lb and Au at US$1,700/oz.

See www.solgold.com.au for more information. Follow us on twitter @SolGold plc

CAUTIONARY NOTICE

News releases, presentations and public commentary made by SolGold plc (the “Company”) and its Officers may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s Directors, including the plan for developing the Project currently being studied as well as the expectations of the Company as to the forward price of copper. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements.

Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of the TSX and LSE or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may reinterpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.

This release may contain “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding the Company’s plans for developing its properties. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.

Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including assay results) to accurately predict mineralization; errors in management’s geological modelling and/or mine development plan; capital and operating costs varying significantly from estimates; the preliminary nature of visual assessments; delays in obtaining or failures to obtain required governmental, environmental or other required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of the Company to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of the Company to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward‑looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The Company and its officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis, and where possible aims to circulate all available material on its website.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: SolGold PLC

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https://www.accesswire.com/676110/SolGold-PLC-Announces-Regional-Exploration-Update–Porvenir








Author: SolGold PLC

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