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Rio2 Arranges Project Financing Of US$125 to US$135 Million to Fully Fund Its Fenix Gold Mine to Production

**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES** VANCOUVER, British Columbia, July 20, 2021 …

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**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

VANCOUVER, British Columbia, July 20, 2021 (GLOBE NEWSWIRE) — Rio2 Limited (“Rio2” or “the Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) is pleased to announce that it has arranged mine construction financing totaling approximately US$125 to US$135 million to finance the construction of a mine (the “Mine”) at its 100%-owned Fenix Gold Project in Chile (the “Mine Financing Package”).

The Mine Financing Package is comprised of the following components:

  • Non-binding term sheet with Wheaton Precious Metals International Ltd. (“WPMI” or “Wheaton”) for a US$50 million Gold Purchase Agreement (“Gold Stream”).
  • BNP Paribas (“BNP”) appointed as mandated lead arranger for a senior project debt facility of US$50-60 million (“Senior Project Debt Facility”).
  • Marketed public offering of common shares of the Company for gross proceeds of approximately C$25 million (approximately US$19.6 million), at a price per share to be determined in the context of the market with a syndicate of underwriters co-led by Scotiabank, CIBC Capital Markets and Raymond James (the “Offering”).
  • Non-Brokered private placement of common shares of the Company to WPMI or an affiliate for proceeds of US$5 million at a price per share equal to, and concurrent with, the Offering (the “Private Placement”).

Alex Black, President, CEO and a director of Rio2 Limited, stated, “Securing this Mine Financing Package is a significant milestone event for Rio2 and a testament to our management team and the strong, long-life, project fundamentals offered by the Fenix Gold Project.”

The Mine Financing Package will allow for Rio2 to commence pre-construction activities at the Fenix Gold Project prior to receiving Environmental Impact Assessment (“EIA”) approval and permits for its planned 20,000 tonnes per day, run of mine, dump leach operations. Since the outset, the primary focus of Rio2 has been to accelerate the Fenix Gold Project to production and the Mine Financing Package will allow the Company to maintain its current schedule for first gold production in Q4, 2022.

“We welcome WPMI and BNP as our partners in the construction and development of the Fenix Gold Mine, in an environmentally and socially responsible manner, to the benefit of all stakeholders. The Fenix Gold Project hosts the largest undeveloped gold heap leach project in the Americas with a large measured and indicated gold resource of 5 million ounces with exciting exploration potential, and is open to further mine optimization opportunities,” said Alex Black. 

“Wheaton is excited to partner with Rio2 in developing the Fenix Gold Project. The strength of the Fenix Gold Project and its long-term potential has been readily evident during our due diligence,” said Randy Smallwood, President and Chief Executive Officer of Wheaton.

WPMI GOLD STREAM

Rio2 has signed a non-binding term sheet to receive total cash consideration of US$50 million pursuant to a Gold Purchase Agreement to be entered into with WPMI, a wholly-owned subsidiary of Wheaton Precious Metals Corp. (TSX: WPM; NYSE: WPM). The proceeds from the Gold Stream will be used to partially finance the Mine construction.

Upon entering into the Gold Stream, WPMI will purchase refined gold equal to 6.0% of the gold production until 90,000 ounces of gold have been delivered and 4.0% of the gold production until 140,000 ounces of gold have been delivered, after which the stream will reduce to 3.5% of the gold production for the life of mine. Under the proposed Gold Stream, WPMI will pay total cash consideration of US$50 million, US$25 million of which is payable upon closing, subject to conditions including the completion of the Offering (as described below), with the remaining US$25 million payable subject to certain conditions, including the receipt of the EIA approval for the Mine. In addition, WPMI will make ongoing payments for gold ounces delivered equal to 18% of the spot gold price until the value of gold delivered less the production payment is equal to the upfront consideration of US$50 million, at which point the production payment will increase to 22% of the spot gold price.

Entering into the Gold Stream remains subject to, among other matters, the final negotiation and completion of definitive documentation, including the Gold Purchase Agreement.

As part of the non-binding term sheet, Wheaton has committed to subscribe for US$5 million of common shares pursuant to a non-brokered private placement subscription agreement at the same price per share as the Offering (as described below).

BNP SENIOR PROJECT DEBT FACILITY

On July 20, 2021, the Company engaged BNP act as the sole and exclusive bookrunner, sole and exclusive lead arranger, and sole and exclusive administrative agent for the Senior Project Debt Facility in the amount of US$50-60 million. Proceeds of the Senior Project Debt Facility will be used to fund the construction and commissioning of the Mine and available by way of cash advances in US dollars, and for potential cost overruns. The Senior Project Debt Facility is expected to have a principal grace period in line with construction and ramp-up period and a tailored amortization profile designed to match projected cash flows from the Mine. The closing of the Senior Project Debt Facility remains subject to a number of customary conditions including the completion of satisfactory due diligence, the receipt of credit approvals and the negotiation of definitive documentation.

FINANCING PROCESS

“We have completed a comprehensive review of numerous financing options and we are very pleased with the outcome of our process. We have arranged financing with two leading financial partners to fully fund the construction costs at Fenix Gold. The Mine Financing Package is transformational for Rio2 as it will provide the resources to execute on our plans for the development of the Mine,” stated Jose Luis Martinez, Rio2’s Executive Vice President and Chief Strategy Officer.

RIO2 EQUITY OFFERING

The Company has filed a preliminary short form prospectus in connection with a marketed public offering of common shares of the Company (“Common Shares”) for aggregate gross proceeds of approximately C$25 million (approximately US$19.6 million), at a price per Common Share determined in the context of the market (the “Offering Price”). The Offering will be conducted through a syndicate of underwriters co-led by Scotiabank, CIBC Capital Markets and Raymond James (collectively, the “Underwriters”).

The pricing of the Offering will be determined in the context of the market at the time of entering into a definitive underwriting agreement between the Company and the Underwriters. The Company has granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Common Shares issued pursuant to the Offering (the “Over-Allotment Option”) on the same terms exercisable in whole or in part, at any time and from time to time, up to 30 days from and including the closing date of the Offering (the “Underwriters’ Option”).

Not less than US$20 million of the net proceeds‎‎ of the Offering plus the proceeds of the Private Placement (the “Combined Proceeds”) will be used to fund development of the ‎Corporation’s Fenix Gold Project and associated mine and camp infrastructure ‎(which, for greater certainty includes development of related infrastructure by Lince S.A., a wholly owned subsidiary of ‎the Corporation). The remaining Combined Proceeds is expected to be used for general working capital purposes.‎ Any proceeds from the exercise of the Over-Allotment Option will be added to the Corporation’s working capital.

The Common Shares are being offered (i) to the public in each of the provinces and territories of Canada, except for Quebec and (ii) in the United States, only to “qualified institutional buyers” (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the “1933 Act”), in a private placement exempt from the registration requirements of the 1933 Act.

The Offering is scheduled to close on or about August 6, 2021 and is subject to customary closing conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the securities ‎regulatory authorities and the TSX Venture Exchange (the “TSXV”). The completion of the Offering is also subject to the completion of the Private Placement (as described below).

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Common Shares in the United States. The Common Shares have not been and will not be registered under the 1933 Act or any state securities laws and may not be offered or sold directly or indirectly in the United States except in transactions exempt from the registration requirements of the 1933 Act and all applicable state securities laws.

The Company has applied to list the Common Shares on the TSXV. A preliminary short form prospectus containing important information related to the Common Shares has been filed with securities regulatory authorities in each of the provinces and territories of Canada, except for Quebec. The preliminary short form prospectus is subject to completion. Copies of the preliminary short form prospectus may be obtained from the Underwriters via email at [email protected] or by request to the Company. A copy of the preliminary short form prospectus can also be obtained under the corporate profile of the Company on SEDAR at www.sedar.com.

RIO2 PRIVATE PLACEMENT

As contemplated by the non-binding term sheet with WPMI, WPMI or an affiliate would purchase on a non-brokered private placement basis Common Shares from treasury for proceeds of the Canadian dollar equivalent of US$5 million (approximately C$6.4 million) at a price per share equal to the price of the Common Shares issued pursuant to the Offering (the “Private Placement”), provided the gross proceeds of the Offering and Private Placement exceed US$20 million. The Company intends to use the proceeds from the Private Placement to fund development of the Company’s Fenix Gold Project‎.

The Private Placement is scheduled to close on or about August 6, 2021 and is subject to customary closing conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSXV. The completion of the Private Placment is also subject to the concurrent completion of the Offering.

ADVISORS

Rio2’s financial advisor is Scotiabank and its legal advisors are McMillan LLP in Canada and Guerrero Olivos in Chile in connection with the Gold Stream and the Senior Project Debt Facility.

TECHNICAL INFORMATION

The scientific and technical content of this news release has been reviewed, approved and verified by Enrique Garay, MSc. P. Geo (AIG Fellow), Senior Vice President Geology of Rio2 Limited, who is a QP under NI 43-101. For additional information regarding the Fenix Gold Project, including key parameters, assumptions and risks associated with its development, see the independent technical report entitled “Updated Pre-Feasibility Study for the Fenix Gold Project, Atacama, III Region, Chile” dated October 15, 2019 with an effective date of August 15, 2019, a copy of which document is available under Rio2’s SEDAR profile at www.sedar.com

ABOUT RIO2 LIMITED

Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. In addition to the Fenix Gold Project in development in Chile, Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws relating to Rio2’s planned development of its Fenix Gold Project and other aspects of Rio2’s anticipated future operations and plans. In addition, without limiting the generality of the foregoing, this news release contains forward-looking information pertaining to the following: the Gold Stream, the Senior Project Debt Facility, the Offering, the Private Placement, the timing and completion of each of the foregoing financings, the use of proceeds of each of the foregoing financings, the estimated mineral resources of the Fenix Gold Project, the potential development of a mine at the Fenix Gold Project, the timing of construction at the Fenix Gold Project, the expected timeline for the commencement of gold production from the Fenix Gold Project, the expected rate of production at the Fenix Gold Project and other matters ancillary or incidental to the foregoing.

All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, and similar expressions. The forward-looking information is based on certain key expectations and assumptions made by Rio2’s management which may prove to be incorrect, including but not limited to: expectations concerning prevailing commodity prices, exchange rates, interest rates, applicable royalty rates and tax laws; capital efficiencies; legislative and regulatory environment of Chile; future production rates and estimates of capital and operating costs; estimates of reserves and resources; anticipated timing and results of capital expenditures; the sufficiency of capital expenditures in carrying out planned activities; performance; the availability and cost of financing, labor and services; and Rio2’s ability to access capital on satisfactory terms.

Rio2 believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this news release should not be unduly relied upon. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rio2’s disclosure documents on the SEDAR website at www.sedar.com. These risks and uncertainties include, but are not limited to: risks and uncertainties relating to the completion of the financings as described herein, and management’s ability to anticipate and manage the factors and risks referred to herein. Forward-looking statements included in this news release are made as of the date of this news release and such information should not be relied upon as representing its views as of any date subsequent to the date of this news release. Rio2 has attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. Rio2 disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Notes:

To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2’s SEDAR profile at www.sedar.com.

ON BEHALF OF THE BOARD OF RIO2 LIMITED

Alex Black
President, CEO & Director
Email: [email protected]
Tel: 1 (604) 260-2696

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

 


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Alpha Copper Introduces Indata Copper-Gold Project

VANCOUVER, British Columbia, Jan. 20, 2022 (GLOBE NEWSWIRE) — Alpha Copper Corp. (CSE: ALCU) (“Alpha,” Alpha Copper,” or the “Company”) a…

VANCOUVER, British Columbia, Jan. 20, 2022 (GLOBE NEWSWIRE) — Alpha Copper Corp. (CSE: ALCU) (“Alpha,” Alpha Copper,” or the “Company”) a resource sector organization founded to create value through mineral exploration, technical development, and asset acquisition, is pleased to provide a brief introductory overview of its Indata Copper-Gold project located in a highly prospective region of British Columbia.

The Indata property, totaling 3,189 hectares (7,880 acres) is located 230 kilometers northwest of the City of Prince George, BC and is immediately south of the Stardust-Kwanika Project owned by Northwest Copper Corp. Two types of mineralization have historically been explored for at Indata: gold-silver veins and porphyry style copper mineralization. The property includes three porphyry copper targets with the largest, the Lake Zone, measuring 500 to 1,000 meters in width along-strike for at least 1,500 meters.

The project is situated in a complex geological setting adjacent to the Pinchi Fault, a major structure separating the oceanic-derived Cache Creek Terrane to the west and volcanic island arc-derived Quesnel Terrane to the east. Previous drill intercepts in the northern portion include DDH98-4 with 0.20% copper over 148 m including 0.37% copper over 24 meters at the bottom of the hole and a trench excavated during road construction averaged 0.37% copper over 75 meters (the southern half of the target has had no drilling completed).

Gold vein drill intercepts have included 47.26 g/t gold over 4.0 meters. In 2019 a new vein measuring 5.1 meters in width was discovered 600 meters south of any previously known vein and a new area of copper gold mineralization exposed by logging road construction was discovered a further 2,900 meters south that included a select grab sample that returned 3.64% copper and 5.95 g/t gold.

Alpha Copper CEO, Mr. Darryl Jones notes, “As has been identified so many times in the past, location, location, location, can prove decisive to the eventual outcome of any resource sector opportunity. Recent positive announcements regarding the adjacent Stardust-Kwanika Project as well as regional historic records provide us with heightened confidence that we are in the ‘right place’ – and market forces principally driven by the burgeoning clean tech revolution position us at ‘the right time.’ We look forward to developing an aggressive campaign to develop a clear asset picture aimed at advancing our strategic business goals, development prospects and shareholder value to help serve the growing demand for copper around the globe.”

Alpha Copper Corp. has an option to earn a 60% interest In the Indata Project from Eastfield Resources Ltd. by paying $400,000 (cash and/or shares) and completing $2,000,000 in exploration before June 20, 2023. An initial budget of $750,000 has been set.

This news release has been reviewed by J.W. Morton P.Geo who is the Qualified Person within the context of NI 43-101 and who takes responsibility for its technical content. For further information in respect of the technical information presented herein, please refer to the Company’s Technical Report on the Indata Project dated August 6, 2018, available under the Company’s profile at www.sedar.com, as well as the Company’s press release of November 26, 2019.

On Behalf of the Board of Directors,

~Darryl Jones~

Darryl Jones
CEO, President & Director
Alpha Copper Corp.

As part of the Company’s disclosure obligations as a public issuer, ongoing financial and material filings can be found under the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

Contact Alpha Copper
Invictus Investor Relations
+1 (604) 343.8661
[email protected]

About Alpha Copper Corp (CSE: ALCU):
Alpha Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The company is positioned to earn a 60% interest in the Indata copper-gold project located in north central British Columbia and a 100% interest in the Okeover copper-molybdenum project located near the coastal community of Powell River, British Columbia. For more information visit: https://alphacopper.com/.

Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve 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 expectations include the results of further exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

The CSE does not accept responsibility for the adequacy or accuracy of this release. 


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CopperBank Provides Corporate Update and Outlines 2022 Deliverables

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK) is pleased to provide a corporate…

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / CopperBank Resources Corp. (“CopperBank” or the “Company“) (CSE:CBK) is pleased to provide a corporate update and an outline on key deliverables for 2022.

Paul Harbidge, President and CEO stated: “It has been an extremely busy four months since I stepped into the leadership role at CopperBank. The senior leadership team is now in place and I am excited to be working with this team of exceptionally talented individuals to transition the Company from an accumulator of copper projects, to one that aims to move the Copper Creek and Contact Copper projects up the value-chain through further exploration and technical work. Both projects have significant historical data with which to work and further optimize, and both projects benefit from excellent infrastructure, logistics and top-tier mining jurisdictions in Arizona and Nevada, respectively.

The rebranding of the Company is designed to better reflect the technical advancement of our assets and the future electrification and decarbonization of the world in which we live. This is the start of a new journey, and we look forward to providing further updates as we deliver on our strategic goals and advance these two exciting copper projects in low-risk political jurisdictions.”

Highlights:

  • Experienced Leadership Team with a proven track record of delivery and value creation
  • Operations plan supported by an Environmental, Social, and Governance framework
  • Two advanced copper projects with development optionality in Tier 1 mining jurisdictions
    • Copper Creek, Arizona, offers open pit as well as bulk underground mining potential
    • Contact Copper, Nevada, offers low-cost heap leach SX-EW method of extraction
  • Significant exploration upside at both projects
  • Equity financing of $5.0 million completed in September 2021
  • Technical team mobilized to Copper Creek project
  • Diamond drill rig mobilizing to Copper Creek in February 2022
    • 5,000m program to test both high-grade breccia and porphyry copper mineralization
  • Renaming of Company to Faraday Copper Corp[1] and applying to list on TSX.V[2]

The drilling program is designed to test previously undrilled areas between zones of known high-grade mineralization, confirm historic results, and obtain geotechnical information needed to advance mine design and planning. Additional work completed and commenced includes:

  • Data consolidation completed and digitization underway to enhance knowledge base integrity
  • Copper Creek Mineral Resource Estimate (“MRE“) scope of work awarded
  • Copper Creek geotechnical program scope finalization and contract awarded
  • Copper Creek and Contact Copper metallurgical data review commenced
  • Copper Creek survey program commenced in January 2022 including update of survey controls and high-resolution topographic data collection

Key Milestones

  • Q1 2022 – Drill rig mobilized to Copper Creek to commence 5,000-metre drill program
  • Q1 2022 – Company applies to list its common shares on the TSX.V
  • Q2 2022 – Company rebrands to Faraday Copper Corp1
  • Q2 2022 – Subject to the approval of the TSX.V, expects to conclude the listing process2
  • Q2 2022 – Completion of a geological model for Copper Creek
  • Q3 2022 – Updated MRE for Copper Creek and mobilize Phase I drill program on Contact Copper
  • Q4 2022 – Phase II drill program for Copper Creek
  • Q2 2023 – Updated Preliminary Economic Assessment (“PEA“) for Copper Creek
  • Q3 2023 – Updated MRE for Contact Copper
  • Q2 2024 – Updated technical study for Contact Copper

Projects

Copper Creek Project (Arizona, USA)

The project is a 100% owned, large copper deposit, located ~120 road kilometres northeast of Tucson and ~24 kilometres northeast of San Manuel. The current resource area is ~4 kilometres in length and open in all directions. The property consists of ~41 square kilometres of contiguous patented and un-patented mining claims and state prospecting permits. The area is in a mining friendly and politically secure location with excellent infrastructure including power, rail, water, roads, and access to skilled personnel.

The property is in the prolific southwest porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within 50 kilometres of an operating copper mill and smelter.

The property hosts an “Early Halo-type” porphyry copper deposit with high-grade near-surface breccia-hosted mineralization. Both mineralization types include current copper/molybdenum resources prepared in accordance with CIM standards. Gold, and silver are also present in varying amounts associated with both types of mineralization.

The most recent MRE was published in a technical report titled “Copper Creek 2012 Mineral Resource Update, Pinal County, Arizona, USA, Technical Report” prepared for Redhawk Resources Inc. (“Redhawk”) by Independent Mining Consultants Inc., dated and filed by Redhawk on SEDAR on June 25, 2012.

The most recent technical study work completed on the project was published in a technical report titled “Preliminary Economic Assessment 25,000 TPD Mill with an Underground Mine for Development of the Copper Creek Resource” prepared for Redhawk by SGS Metcon/KD Engineering, Tucson Arizona, dated and filed by Redhawk on SEDAR on October 28, 2013.

Despite extensive historic exploration, with over 200,000 metres of drilling and modest past production, significant exploration upside remains. There are over 400 known breccia pipes mapped of which only about 35 were drilled and 8 are included in the MRE published in 2012.

Contact Copper Project (Nevada, USA)

The project is a 100% owned, pre-feasibility stage copper oxide project located on private land in Elko County, Nevada. The project is located west of the town of Contact, U.S. Highway 93 traverses the east side of the project along with a 138 KV transmission line, between the towns of Wells and Jackpot, Nevada. The property consists of approximately 2,650 acres in 156 patented claims and 3,285 acres in 219 unpatented claims.

Copper mineralization occurs as an intrusive-related deposit within a granodiorite batholith and is observed in quartz veins within structural zones and in the surrounding intrusion. The copper content is highest in the quartz veins, particularly where chalcocite is present, but grades outward into granodiorite where copper minerals occur in quartz veinlets, fracture coatings and disseminations. Mineralization is in the form of tenorite, chrysocolla and cuprite, and lesser chalcocite and covellite.

The most recent mineral resource estimate and technical study work completed was published in a technical report titled “NI 43-101 Pre-Feasibility Study on the Contact Copper Projectwas prepared for Enexco International Ltd. by Hard Rock Consultants LLC, published October 1, 2013.

There is expected to be significant exploration upside with several targets that have not been drill tested including Copper Ridge. The Copper Ridge zone features oxide copper mineralization with grab samples containing up to 12.4% copper.

Qualified Person

The technical information in this news release has been reviewed and approved by CopperBank’s Vice President of Exploration, Dr. Thomas Bissig, P.Geo and Vice President of Projects and Evaluations, Zach Allwright, P.Eng, both of whom are deemed a Qualified Person as defined by National Instrument 43-101.

About CopperBank

CopperBank is a Canadian exploration company focused on advancing two copper projects in The United States of America. The Company trades on the Canadian Securities Exchange under the symbol “CBK”.

For additional information please contact:

Paul Harbidge, President and Chief Executive Officer

CopperBank Resources Corp.
Suite 250, 200 Burrard Street, Vancouver, BC V6C 3L6

Phone: 778-987-2761

E-mail: [email protected]

Website: www.copperbankcorp.com

Cautionary Note on Forward Looking Statements

Some of the statements in this news release, other than statements of historical fact, are “forward-looking statements” and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of CopperBank to be materially different from those expressed or implied by such forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the intention of the Company to apply to list its common shares on the TSX.V, the potential timing for the listing of CopperBank’s common shares on the TSX.V, the intention to change CopperBank’s name to Faraday Copper Corp., the timelines for the key milestones, the ability of CopperBank to complete an MRA and PEA, the exploration prospects and projected resources of the properties of CopperBank, future capitalization and market capitalization of CopperBank, development of and future drilling on the Copper Creek and Contact properties.

Although CopperBank believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Factors that could cause actual results to differ materially from those in forward-looking statements include without limitation: market prices for metals; the conclusions of detailed feasibility and technical analyses; lower than expected grades and quantities of resources; receipt of regulatory approval; receipt of shareholder approval; mining rates and recovery rates; significant capital requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; taxation; controls, regulations and political or economic developments in the countries in which CopperBank does or may carry on business; the speculative nature of mineral exploration and development, competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of Indigenous peoples and other groups; risks, uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the Contact and Copper Creek properties; and uncertainties with respect to any future acquisitions by CopperBank. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and the risk of inadequate insurance or inability to obtain insurance to cover these risks as well as “Risk Factors” included in CopperBank’s disclosure documents filed on and available at www.sedar.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities in CopperBank in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States has reviewed or in any way passed upon this press release, and any representation to the contrary is an offence.

All of the forward-looking statements contained in this press release are qualified by these cautionary statements. CopperBank does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. For more information on the CopperBank, readers should refer to www.sedar.com for the CopperBank’s filings with the Canadian securities regulatory authorities.

[1] The renaming of the Company is subject to shareholder approval at the Annual and Special Meeting of Shareholders expected to be held on April 19, 2022

[2] Listing of the Company’s common shares on the TSX Venture Exchange (“TSX.V“) will be subject to the approval of the TSX.V in accordance with its listing requirements and there is no assurance that the TSX.V will approve the listing application.

SOURCE: CopperBank Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/684695/CopperBank-Provides-Corporate-Update-and-Outlines-2022-Deliverables


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Scotch Creek Ventures Inc. Stakes Additional Claims in Preparation for Upcoming Drill Program

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Scotch Creek Ventures Inc. (the "Company") (CSE:SCV)(FSE:7S2)(OTC PINK:SCVFF) ("Scotch Creek" or the "Company")…

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Scotch Creek Ventures Inc. (the “Company”) (CSE:SCV)(FSE:7S2)(OTC PINK:SCVFF) (“Scotch Creek” or the “Company”) is pleased to announce that the Company has acquired, through staking, an additional 159 lode claims, totaling 3,180 acres on its Macallan East project to complement its existing placer claims for the upcoming drill program.

Scotch Creek Ventures’ Geologist, Mr. Robert D. Marvin, commented, “I am looking forward to the upcoming core drilling program on the Macallan project, as Scotch Creek looks to put the first exploration holes into the Southeast Clayton Bench.”

Macallan East Geology

The Macallan East project is located on the Southeast side of the Southern Clayton Valley. The claim block sits directly on trend with outcropping, lithium mineralized, volcanic ash-rich, basin lakebed sedimentary rocks which project towards the project area from the NNE. The projected presence of these mineralized units in the subsurface at Macallan strongly suggests that porous ash units, associated with these rocks elsewhere in the basin, should exist below the surface on the claims.

In addition, Mr. Marvin, stated, “The Southeast Clayton Valley Bench is dominated by uplifted, lacustrine sedimentary units of the Esmeralda Formation, and represents an under-explored subsurface for either lithium brine, or claystone hosted lithium resources. Our knowledge of the Macallan property has positively evolved resulting in the additional lode staking, to cover both the potential to discover lithium brine and or lithium-bearing clays. The Macallan Project indicates strong potential areas for the SE Clayton Bench.”

About Scotch Creek Ventures

Scotch Creek is a mineral exploration company, focused on the acquisition, exploration, and development of lithium projects located in tier-one North American mining jurisdictions. Scotch Creek’s mission is to become a best-in-class lithium exploration company situated in one of the most promising lithium districts in the world, Clayton Valley, Nevada.

Scotch Creek would like to invite investors and stakeholders to connect with our investor relations team or visit our website to sign-up to receive regular updates and news alerts.

On behalf of the Board of Directors

“David K. Ryan”

David Ryan
Chief Executive Officer

Further information about the Company is available on our website at www.scotch-creek.com or under our profile on SEDAR at www.sedar.com, and on the CSE website at www.thecse.com.

Public Relations Contact
Scotch Creek Ventures Inc.
Telephone: +1.604.685.4745
Email: [email protected]
Website: www.scotch-creek.com

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward‐looking and cautionary statements

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.

This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.

SOURCE: Scotch Creek Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/684726/Scotch-Creek-Ventures-Inc-Stakes-Additional-Claims-in-Preparation-for-Upcoming-Drill-Program


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