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Scorpio Gold Intersects 50.2g/t Gold over 5.6m including 260g/t over 0.9m from Ongoing Underground Drilling at Goldwedge, Nevada

VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) — Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased…

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VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) — Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased to announce high-grade results from a hole drilled to test the on-strike and down-dip continuity of mineralization within and below the current underground mine workings at the 100% owned Goldwedge property, located in Nevada.

Drill hole GWUG21-015 returned 50.2 g/t gold over 5.6m (1.463 oz/ton over 18.5 ft), including a higher-grade intercept of 260g/t over 0.9m (7.607 oz/ton over 3.0 ft). The mineralization is hosted within sheared, interbedded limestones and argillites with quartz and calcite veining (Figures 1-4). The intersection is located ~7m on strike from historical 2011 drill hole GWUG-11-2, which reported 56.4g/t gold over 3.1m, including 91.6g/t over 1.5m. The mineralization is situated at an average depth of ~58m from topographic surface and is located ~350m northwest of the mine portal. Drilling to further test the extent of high-grade mineralization along strike and at depth below the existing mine workings is ongoing. Four additional holes recently completed at the same drill station as GWUG21-015 are being processed for analysis. The planned meterage for this drill program is 2066 meters with 874 meters (42%) completed to date.

To date, the Goldwedge deposit has been traced over a strike length of ~350m from near surface to a vertical depth of 160m. The southwestern extent of drilling at the Goldwedge deposit lies 100m northwest of Scorpio Gold’s most northerly exploration drill hole in the West Pit area of the Manhattan Mine Property. Future drilling will test the Company’s structural interpretation that mineralization at Goldwedge could connect with mineralization in the West Pit area, where drilling has indicated a 300m continuous trend of mineralization from as shallow as 19m from surface. Collectively, the Goldwedge, West Pit and East Pit areas outline a mineralized trend along the Reliance Structural Zone ~2 km in strike length. This trend continues a further 3 km southeast to Scorpio Gold’s Keystone-Jumbo project area.  

Table 1: 2021 Goldwedge Underground Drilling – Significant Results for GWUG21-015

Hole ID Azm
(deg)
Dip
(deg)
From
(ft)
To
(ft)
Width
(ft)
From
(m)
To
(m)
Width
(m)
Gold
(oz/t)
Gold
(g/t)
GWUG21-015 221 -58 2.0 20.5 18.5 0.6 6.3 5.6 1.463 50.2
Incl.     3.0 6.0 3.0 0.9 1.8 0.9 7.607 260.9

Drill hole GWUG21-015 was completed by NQ size diamond (core) drilling. Widths are presented as down hole core lengths; true widths are undefined at this time. Analytical results were by FAAA procedure by Scorpio Gold’s in-house analytical laboratory, which does not have ISO/IEC 17025 accreditation but implements a quality management system compatible with the ISO/IEC 17025 standards and maintains a paperwork and LIMS trail suitable for future ISO/IEC 17025 accreditation. Certified assay results for GWUG21-015 by ALS Geochemistry Assay Laboratory Inc. are pending. Further details of the Company’s quality assurance and quality control program for the Goldwedge project are available at: GW QAQC.   

Figure 1: Plan view showing location of GWUG21-015, lithological units and modeled high-grade veins projected to surface. The significant results to date from Goldwedge underground drilling can be referred to in the Company’s news releases dated April 13 and September 29, 2021.
https://www.globenewswire.com/NewsRoom/AttachmentNg/03504fa9-529b-41c0-b26e-6357e8587939

Figure 2: Cross-section within 10m projection volume showing significant intercepts for GWUG21-015
https://www.globenewswire.com/NewsRoom/AttachmentNg/0a836c74-d546-4742-ae4a-8cfbce021a28

Figures 3-4: Core photos and assays for GWUG21-015. Note: There was no core recovery from 6 to 8 feet downhole. The 260.9 g/t interval represents a 3 ft core intersection from 3-6 ft downhole.
https://www.globenewswire.com/NewsRoom/AttachmentNg/061b28af-8458-4388-addb-b471c08213e2
https://www.globenewswire.com/NewsRoom/AttachmentNg/098239b0-25d6-4ab7-91b5-5dbd8d7cccb2

About Scorpio Gold

Scorpio Gold holds a 100% interest in the consolidated Manhattan District in Nevada comprising the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and a 400 ton per day mill facility and the Manhattan Property situated adjacent and proximal to the Goldwedge property. The Manhattan Property includes 2 former producing mines, the Reliance Mine, which reportedly produced ~59,000 tons grading 0.435 oz/ton from 1932 to 1941, and the Manhattan Mine East and West pits, which produced ~236,000 oz. from 1974-1990. The deposits lie along the northwest-trending Reliance Structural Zone, which is considered the most predominant ore controlling structure in the region. The Reliance trend continues 4 km southeast to Scorpio Gold’s Keystone-Jumbo project area.

Scorpio Gold also holds 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada.

The technical information contained within this release has been reviewed and approved by independent geological consultant, Mohan R Vulimiri, M.Sc., P.Geo., a Qualified Person as defined by NI 43-101.

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION

Brian Lock,
CEO & Director

For further information contact:

Brian Lock, CEO
Tel: (604) 889-2543
Email: [email protected]

Diane Zerga, General Manager
Tel: (775) 401-1637
Email: [email protected]

Anthony Simone, Investor Relations
Tel: (416) 881-5154
Email: [email protected]

Website: www.scorpiogold.com

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 this release.

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration of its Goldwedge project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks involved in mineral exploration programs and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.









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Today’s News

Fireweed Zinc Closes $5.18 Million Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, Dec. 08, 2021 (GLOBE…

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

VANCOUVER, British Columbia, Dec. 08, 2021 (GLOBE NEWSWIRE) — FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF; FSE: 20F) is pleased to announce closing of the non-brokered private placement (the “Offering”) first announced November 24, 2021 for total gross proceeds of CAD$5,178,400.  The Offering consisted of 6,473,000 flow-through common shares of the Company at a price of CAD$0.80 per share (“Flow-Through Shares”).

Highlights

  • $5.18 million Offering, substantially over-subscribed over initial $3.6M opening
  • Financing will allow Fireweed to secure service contractors including drillers early for the 2022 Macmillan Pass Project (Yukon) work program

Fireweed CEO Brandon Macdonald stated, “Thanks to strong investor demand we are able to close this financing on proceeds 45% higher than what we opened on despite challenging market conditions. We felt it was important to raise money early for next season because it is expected that there will again be a shortage of drillers and other service contractors. Having money in the bank now allows us first choice of the best contractors for next year and will allow our highly skilled technical team ample time to plan an effective 2022 exploration program.” 

The proceeds from the Offering will be used for exploration of the Company’s Macmillan Pass Project in Yukon, Canada; and specifically will be used to incur Canadian Exploration Expenses (“CEE”) that qualify as “flow-through mining expenditures” under the Income Tax Act (Canada), all of which will be renounced to investors. The Company will pay finders fees in compliance with the policies of the TSX Venture Exchange and applicable securities legislation, to arm’s length finders in connection with subscriptions from subscribers introduced by them, totaling $103,704 and 129,630 warrants exercisable for 12 months from the date of issuance to acquire common shares of the Company at an exercise price of $0.70 per share.

Insiders of the Company acquired an aggregate of 22,500 Flow Through Shares in the Offering, which participation constituted a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company’s market capitalization. As required by MI 61-101, the Company advises that it expects to file a material change report relating to the Offering less than 21 days from completion of the Offering, as the nature of the related party transaction is relatively immaterial, and was not necessary to complete the Offering, and can generally be considered reasonable in the circumstances.

This Offering remains subject to final approval of the TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period of four months plus a day following the date of closing.

About Fireweed Zinc Ltd. (TSXV: FWZ): Fireweed Zinc is a public mineral exploration company focused on zinc-lead-silver and managed by a veteran team of mining industry professionals. The Company is advancing its district-scale 940 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study (see Fireweed news releases dated January 10, 2018, and May 23, 2018, respectively, and reports filed on www.sedar.com for details) as well as the Boundary Zone, Tom North Zone and End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and Stump) which cover exploration targets in the district where previous and recent work identified zinc, lead and silver prospects, and geophysical and geochemical anomalies in prospective host geology.

In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.

Additional information about Fireweed Zinc and its Macmillan Pass Zinc Project including maps and drill sections can be found on the Company’s website at www.FireweedZinc.com and at www.sedar.com.

ON BEHALF OF FIREWEED ZINC LTD.

Brandon Macdonald

CEO & Director
604-646-8361

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. 

Cautionary Statements

Offering Disclosure Statements
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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward Looking Statements
This news release may contain “forward-looking” statements and information relating to the Company and the Macmillan Pass Project that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, the effects of the pandemic, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

 

 






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Precious Metals

M&A: Kinross Announces Acquisition of Great Bear Resources

Flagship Dixie project in Northern Ontario has significant potential to become a top tier, large-scale operation(This news release contains forward-looking…

Flagship Dixie project in Northern Ontario has significant potential to become a top tier, large-scale operation

(This news release contains forward-looking information about expected future events and performance of the Company. We refer to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located at the end of this release.)

TORONTO, Dec. 08, 2021 (GLOBE NEWSWIRE) — Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” or the “Company”) is pleased to announce today that it has entered into a definitive agreement (the “Agreement”) with Great Bear Resources Ltd. (TSX-V:GBR) (“Great Bear”) to acquire all of the issued and outstanding shares of Great Bear through a plan of arrangement (the “Transaction”).

Through the Transaction, Kinross will acquire Great Bear’s flagship Dixie project located in the renowned and prolific Red Lake mining district in Ontario, Canada. The Dixie project is one of the most exciting recent gold discoveries globally and extensive drilling results have shown the characteristics of a top tier deposit.

Under the terms of the Transaction, Kinross has agreed to an upfront payment of approximately US$1.4 billion1 (C$1.8 billion), representing C$29.00 per Great Bear common share on a fully-diluted basis. The upfront payment will be payable at the election of Great Bear shareholders in cash and Kinross common shares (“Kinross shares”), subject to a pro-ration, up to aggregate maximums of 75% cash and 40% Kinross shares on a fully-diluted basis. The Agreement also includes a payment of contingent consideration in the form of contingent value rights that may be exchanged for 0.1330 of a Kinross share per Great Bear common share, providing further potential consideration of approximately US$46.0 million1 (C$58.2 million) based on the closing price for a Kinross share on the Toronto Stock Exchange (“TSX”) on December 7, 2021. The contingent consideration will be payable in connection with Kinross’ public announcement of commercial production at the Dixie project, provided that at least 8.5 million gold ounces of measured and indicated mineral resources are disclosed.

Strategic rationale for acquisition

  • The Dixie project has excellent potential to become a top tier deposit that could support a large, long-life mine complex and bolster Kinross’ long-term production outlook.
    • Kinross envisions a mine complex with an initial quality, high-grade open-pit mine, with potential upside for a longer-term, sizeable underground operation.  
  • Dixie has significant exploration upside potential with primary zones of mineralization remaining open along strike and at depth.
    • Highly-prospective, with multiple avenues to unlock potential, including the LP Fault, Hinge and Limb primary zones.
    • Positive and exciting drilling results show consistently wide mineralized intercepts defining large continuous zones with predictable high-grade components.
  • Dixie is ideally located in a highly-attractive jurisdiction and is situated in the renowned Canadian Red Lake mining district in Northern Ontario.
    • The project is in a well-established mining camp close to infrastructure and skilled labour.
    • The project offers the potential for long-term tax benefits given Kinross’ large Canadian tax pools.
    • Power supply sources in the region are from a low-carbon energy grid, supporting the Company’s greenhouse gas (“GHG”) emissions reduction strategy.   
  • Kinross has been actively involved in the diligence of the Dixie property since 2018 and the asset will become a centerpiece in the Company’s development portfolio.
    • Extensive technical reviews, including site visits, support an exceptional outlook for the project and confirms it is a scarce, high-quality asset.

J. Paul Rollinson, Kinross’ President and CEO, made the following comments in relation to the Great Bear acquisition: “The Dixie project represents an exciting opportunity to develop a potentially top tier deposit into a large, long-life mine complex. In addition to the prospect of developing a quality, high-grade open pit mine, we also believe that a significant portion of the asset’s value is its longer-term potential, which includes the view of a sizeable underground operation.

“Kinross has the strong technical expertise and experience to successfully advance the project from exploration to development and unlock considerable value for our shareholders. Our extensive due diligence reinforced the scarcity of an asset of this quality and value. The Dixie project has multiple high-potential mineralized zones which remain open along strike and at depth, and we are confident that the asset has strong untapped upside with numerous avenues for growth.

“We are pleased to achieve our goal of adding a high-quality asset in our home jurisdiction that further bolsters our global portfolio and can potentially provide long-term tax benefits. The Dixie project is ideally located in the renowned Red Lake mining district in Northern Ontario near established infrastructure and in a province with a low-carbon energy grid. We look forward to building strong relationships with the Wabauskang and Lac Seul First Nations and will work with them to ensure that the project delivers sustainable benefits to their communities and respects their way of life.”

Chris Taylor, Great Bear’s President and CEO, said: “Kinross first set foot on the Dixie property three years ago, and has closely monitored the discovery and growth of each successive gold discovery Great Bear has made. With extensive drilling now completed at Dixie, both companies have a shared vision of the clear potential for a multi-deposit mine complex consisting of a potential high-grade open-pit mine and a long-life underground mine.

“Dixie’s closest geological analog, the large Hemlo gold mine, was historically operated by three separate companies prior to its consolidation, and has produced over 20 million ounces of gold in more than 30 continuous years of operation. Great Bear shareholders will now be in a unique position to benefit from the potential of the top tier Dixie project under one company and will maintain strong exposure to the project through their Kinross shares. Dixie will be a significant asset for Kinross and the Company’s strong track record, coupled with its projected production growth profile over the coming years, offers our shareholders an attractive investment in its own right.

“As Great Bear’s track record of continuous discovery shows, the Dixie project hosts a prolific gold system that remains completely unconstrained and open to extension. In the near-term, with over 80% of the property unexplored, our shareholders will continue to have exposure to ongoing advanced project development and extensive exploration upside in the lead-up to planned production.

“Of high importance to Great Bear is Kinross’ history of strong Indigenous community relationships and industry recognition as a leader in sustainability and environmental stewardship. Our partners at the Wabauskang and Lac Seul First Nations will benefit from Kinross’ deep operational experience, excellent operational track record and headquarters in Ontario. Kinross is committed to ensuring the project provides lasting socio-economic benefits to the local area and the shared Canadian identity and residence in the same province will help facilitate close ties between the Company and the project’s local communities.”

About the Dixie project

The Dixie project is located 25 kilometres southeast of the town of Red Lake, Ontario and comprises 91 square kilometres of contiguous claims. The project is in a well-established mining camp, is close to skilled labour and a paved highway and provincial power lines run parallel to the property. The property also hosts a network of well-maintained logging roads which facilitate year-round access to the site.

The Dixie project has significant exploration upside potential, with 80% of the property unexplored. The project hosts a prolific gold system and has high-potential mineralized zones remaining open along strike and at depth, with multiple avenues to unlock potential. To date, Great Bear has completed more than 340,000 metres of drilling in 794 drill holes and has identified five high-grade gold discoveries. Great Bear’s positive and exciting drilling results show consistently wide mineralized intercepts defining large continuous zones with predictable high-grade components.

The most significant discovery to date at Dixie is the large-scale “LP Fault” zone, which is comprised of continuous wide, moderate grade mineralization along with subparallel high-grade gold lenses, forming a broad 200 to 400 metre wide envelope of stacked zones, hosted in metamorphosed felsic volcanic and sedimentary units. LP Fault zone drilling has identified gold mineralization along 10.8 kilometres of strike length down to a depth of 786 metres and remains open along strike and at depth. A subsection of the LP Fault zone measuring approximately 4.6 kilometres on strike and to a depth of 500 metres has been the focus of drilling to date at approximately 50 to 150 metre drill spacing. The LP Fault zone has similar geological features to the large Hemlo deposit, which has produced more than 20 million ounces of gold and has been operating continuously for more than 30 years.

The nearby “Hinge,” “Limb,” “Midwest” and “Arrow” gold zones are more characteristic of mineralization at mined deposits in Red Lake, and comprise high-grade gold-bearing quartz veins and silica-sulphide replacement zones hosted by metamorphosed mafic volcanic units. 

See Appendix A: Figures 1 and 2 for maps of the Dixie property

Great Bear has reported that 80% of its drill holes into the LP Fault, Limb and Hinge zones contain visible gold mineralization, with gold occurring mainly as free gold that is not bound to, nor within, sulphide minerals. Initial metallurgical test work has indicated excellent recoveries at all of the mineralized zones identified which are amenable to conventional flowsheets.

See Appendix A: Figure 3 for a long section of the LP Fault zone

Kinross next steps and financing

Upon completion of the Transaction, Kinross plans to undertake a comprehensive exploration and development program at the Dixie project. The program aims to support Kinross’ vision of a large, long-life mining complex, which includes an initial quality, high-grade open-pit mine and potentially, a longer-term, sizeable underground mine. The Company’s three-pronged plan to demonstrate the project’s overall longer-term potential and value includes:

  1. Rapidly advancing exploration activities at the LP Fault zone, including 200,000 metres of planned drilling in 2022. (See Appendix A: Figure 3 for a long section of the LP Fault zone).  
  2. In parallel, continuing exploration outside the Central area of the LP Fault zone, which remains open along strike and at depth. Kinross plans to continue to test the depth extent of the LP Fault zone to understand its potential to support a sizeable and long-life underground operation.
  3. At the same time, Kinross expects to opportunistically explore the Red Lake-style satellite deposits, including definition drilling at the Limb, Hinge and Midwest high-grade targets, along with high-potential new discoveries. The Company also plans to maintain regional claims in good standing and elevate some areas to drill target status.

Kinross expects to finance the acquisition with existing liquidity, which at September 30, 2021, included cash and cash equivalents of US$586.1 million and a US$1.5 billion revolving credit facility. In 2022, the Company expects to enhance its total return of capital to shareholders from its current quarterly dividend and ongoing share buyback program.

Sustainability and First Nations

Upon closing of the Transaction, Kinross will continue to honour the exploration agreements signed with the Wabauskang and Lac Seul First Nations who have traditional territorial claims in the area. Kinross had a constructive first meeting with the Chiefs of both First Nations and looks forward to building positive and strong relationships with their communities through meaningful dialogue and consultation.

Kinross recognizes that respect, collaboration and consideration for First Nations is central to the Company’s license to operate in the area and will prioritize developing the project in a manner that honours Indigenous rights and brings long-term socio-economic benefits to the area. Consistent with how Kinross develops all of its projects around the world, the Company is committed to ensuring that its operations leave a lasting and positive legacy and will take a life of mine approach to the design and planning of the project to minimize environmental impacts.

The Dixie project is located in a province with a low-carbon energy grid that supports Kinross’ goal of being a net-zero GHG emissions company by 2050. Kinross will also plan to incorporate energy-efficient initiatives as it develops the long-term project, including evaluating electric and hydrogen fuel fleets. The Company expects that the GHG emission intensity per-ounce-produced profile of a potential operation at Dixie could lower Kinross’ overall global metric.

Agreement details and timing

The Transaction will be carried out by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval by 66 2/3% of the votes cast by Great Bear shareholders and 66 2/3% of the votes cast by Great Bear security holders (including holders of Great Bear options, restricted share units and deferred share units) at a special meeting expected to be held in Q1 2022 and a simple majority of the votes cast by Great Bear security holders, excluding certain persons required to be excluded in accordance with Multilateral Instrument 61-101 of the Canadian Securities Administrators.

Under the terms of the Transaction, Great Bear shareholders will receive upfront consideration of US$1,421.9 million1 (C$1,800.1 million), representing C$29.00 per Great Bear common share on a fully-diluted basis. Great Bear shareholders will be able to elect to receive the upfront consideration as either (i) C$29.00 in cash or, (ii) 3.8564 Kinross shares per Great Bear share, both subject to pro-ration. The upfront consideration will be subject to maximum aggregate cash consideration of US$1,066.2 million1 (C$1,350.1 million) (representing 75% of the upfront consideration) or maximum aggregate shares issuable of 95.8 million2 (representing 40% of the upfront consideration on a fully-diluted basis2), depending on the election of Great Bear shareholders. Great Bear shareholders who do not elect cash or Kinross shares will be deemed to have elected to receive cash, subject to pro-ration.

Great Bear shareholders will also receive one contingent value right per Great Bear common share, providing for further potential consideration equal to 0.1330 of a Kinross share per Great Bear common share which represents US$46.0 million1 (C$58.2 million) in aggregate consideration, or C$1.00 per Great Bear common share, on a partially-diluted3 basis (based upon the closing price of a Kinross share on the TSX as at December 7, 2021). The contingent consideration will be payable in connection with Kinross’ public announcement of commercial production at the Dixie project, provided that at least 8.5 million gold ounces of measured and indicated mineral resources are disclosed.

The Board of Directors of Kinross have unanimously approved the Transaction. The Board of Directors of Great Bear have unanimously approved the Transaction, with Great Bear directors recommending that Great Bear shareholders vote in favour of the Transaction.

Each of the directors and senior officers of Great Bear, and certain shareholders of Great Bear, representing in aggregate approximately 20% of the issued and outstanding Great Bear common shares, have entered into voting support agreements with Kinross and have agreed to vote in favour of the Transaction at the special meeting of security holders of Great Bear to be held to consider the Transaction.

In addition to Great Bear security holder approval, the Transaction is subject to normal course regulatory approvals and the satisfaction of customary closing conditions. Subject to the satisfaction of these conditions, Kinross expects that the Transaction will be completed in Q1 2022.

Kinross and Great Bear have provided representations and warranties customary for a transaction of this nature and Great Bear has provided customary interim period covenants regarding the operation of its business in the ordinary course. The Agreement also provides for customary deal-protection measures, including non-solicitation covenants on the part of Great Bear and a right to match in favour of Kinross. Great Bear may, under certain circumstances, terminate the Agreement in favour of an unsolicited superior proposal, subject to a termination payment by Great Bear to Kinross.

Further information regarding the transaction will be contained in an information circular that Great Bear will prepare, file and mail in due course to its shareholders in connection with the Great Bear special meeting

Details regarding these and other terms of the transaction are set out in the arrangement agreement, which will be available on SEDAR at www.sedar.com.

None of the securities to be issued pursuant to the Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Advisors

Canaccord Genuity Corp. and Trinity Advisors Corporation are acting as financial advisors to Kinross, with Osler, Hoskin & Harcourt LLP acting as legal advisor.

Conference call details

A conference call and audio webcast with Kinross and Great Bear management to discuss the transaction will be held on Thursday, December 9, 2021 at 8:00 a.m. EST, followed by a question-and-answer session. To access the call, please dial:

Canada & US toll-free – (833) 968-2237; Passcode: 8144017
Outside of Canada & US – (825) 312-2059; Passcode: 8144017

Replay (available up to 14 days after the call):

Canada & US toll-free – (800) 585-8367; Passcode: 8144017
Outside of Canada & US – (416) 621-4642; Passcode: 8144017

You may also access the conference call on a listen-only basis via webcast at our website www.kinross.com. The audio webcast will be archived on www.kinross.com.

About Kinross Gold Corporation

Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Our focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).

Media Contact
Louie Diaz
Vice-President, Corporate Communications
phone: 416-369-6469
[email protected]

Investor Relations Contact
Chris Lichtenheldt
Vice-President, Investor Relations
phone: 416-365-2761
[email protected]

APPENDIX A

Dixie project location

Figure 1. Map of Dixie property and LP Fault zone location4

https://www.globenewswire.com/NewsRoom/AttachmentNg/57ab1333-7048-4cad-8623-8a89eee9a8e1

Dixie project map

Figure 2. LP Fault zone, and Arrow, Limb, Midwest and Hinge zones4.

https://www.globenewswire.com/NewsRoom/AttachmentNg/1ba88b4e-761d-40f0-ac0f-a6ec58c6d6ba

LP Fault zone

Figure 3. Long section with accentuated grades. LP Fault zone has been confirmed through drill testing along 10.8 km of strike length and remains open beyond this. Drill results also indicate the presence of robust mineralization at depths below 750 metres5.

https://www.globenewswire.com/NewsRoom/AttachmentNg/ec2b04f9-0d98-4de5-86ae-9c90c2e6458a

Cautionary statement on forward-looking information

All statements, other than statements of historical fact, contained in this news release, including any information as to the future financial or operating performance of Kinross, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the “safe harbor” provisions under the United States Private Securities Litigation Reform Act of 1995 and are based on the expectations, estimates and projections of management as of the date of this news release, unless otherwise stated. Forward-looking statements contained in this presentation include, without limitation, statements with respect to the completion and timing of the acquisition of Great Bear; financing of the acquisition; the identification of mineral resources and mineral reserves at the Dixie Project; future prospects for exploration, development, operation and/or expansion of the Dixie Project, including the possibility of both open pit and underground mines; the outlook for the project and its anticipated scarcity; the potential for and anticipated timing of commencement of commercial production; the availability of anticipated tax benefits associated with the transaction; and the declaration, payment and sustainability of the Company’s dividends and share buyback program. The words “believe”, “estimate”, “expects”, “forward”, “future”, “goal” “growth”, “opportunity”, “outlook”, “plan”, “potential”, “prospect”, “upside”, or “vision” or variations of or similar such words and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result and similar such expressions identify forward-looking statements. Forward-looking statements are, necessarily, based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Kinross contained in this news release, which may prove to be incorrect, include, but are not limited to: (i) that the parties will complete the acquisition in accordance with, and on the timeline contemplated by, the terms and conditions of the relevant agreements, on a basis consistent with our expectations; (ii) the accuracy of management’s assessment of the effects of the successful completion of the proposed transaction; (iii) the anticipated mineralization of the Dixie Project being consistent with expectations and the potential benefits to Kinross from the project and any upside from the project; (iv) the completion, timing, results and benefits of the planned exploration program being consistent with expectations; (v) the results of the exploration program or future operations being consistent with Kinross’ economic model, preliminary project estimates, and execution risk analysis; (vi) the making of a determination to proceed with the development of the Dixie Project on terms acceptable to Kinross; (vii) the successful development of the Dixie Project on the timelines anticipated, or at all; (viii) the trading price of the Kinross and Great Bear common shares and the impacts of the transaction on the Company’s share price being consistent with the Company’s expectations; (ix) the assumed spot and forward price of gold, silver, or certain other commodities (such as, diesel fuel, natural gas, and electricity); (x) Kinross’ future relationship with the Wabauskang and Lac Seul First Nations being consistent with the Company’s expectations; (xi) the anticipated financing plan for the transaction being consistent with the Company’s expectations; and (xii) the impact of price inflation on the proposed plans for the Dixie Project as well as the Company’s models and estimates. In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks), permitting risks, and potential direct or indirect impacts resulting from infectious diseases or pandemics such as the ongoing COVID-19 pandemic. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, Kinross’ actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Kinross, including but not limited to resulting in an impairment charge on goodwill and/or assets. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. All of the forward-looking statements made in this news release are qualified by this cautionary statement and those made in our other filings with the securities regulators of Canada and the United States including, but not limited to, the cautionary statements made in the “Risk Analysis” section of our MD&A for the year ended December 31, 2020 and the Annual Information Form dated March 30, 2021. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Other information

Where we say “we”, “us”, “our”, the “Company”, or “Kinross” in this news release, we mean Kinross Gold Corporation and/or one or more or all of its subsidiaries, as may be applicable.

The technical information about the Company’s mineral properties contained in this news release has been prepared under the supervision of Mr. John Sims who is a “qualified person” within the meaning of National Instrument 43-101. Mr. Sims was an officer of Kinross until December 31, 2020. Mr. Sims remains the Company’s qualified person as an external consultant.

Source: Kinross Gold Corporation

__________________

1 Assumes foreign exchange rate of 1.27 Canadian dollars to the U.S. dollar.
2 Aggregate maximum total share consideration includes 15.0 million Kinross Options that will be exchanged for 3.9 million Great Bear Options.  
3 Inclusive of 0.3 million Great Bear Restricted Stock Units and Deferred Share Units.
4 Source: Great Bear public disclosure.
5 All figures and values based on Great Bear drill data.












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2021 Exploration Program Results Update on the District Scale Qiqavik Gold Property

2021 Exploration Program Results Update on the District Scale Qiqavik Gold Property
Canada NewsWire
TORONTO, Dec. 8, 2021

TORONTO, Dec. 8, 2021 /CNW/ – Orford Mining Corp. (“Orford”) (TSXV: ORM) is very pleased to provide an update on its 2021 e…

2021 Exploration Program Results Update on the District Scale Qiqavik Gold Property

Canada NewsWire

TORONTO, Dec. 8, 2021 /CNW/ – Orford Mining Corp. (“Orford”) (TSXV: ORM) is very pleased to provide an update on its 2021 exploration activities at its Qiqavik Gold Property. In September 2021, Orford had announced it had completed its 2021 exploration program on Qiqavik. The 2021 exploration program was focused around the seven kilometer plus IP-Lake Shear Corridor (IPLS) which is associated with several high-grade gold boulder trains of up to 648 g/t Au and high gold grains anomalies in glacial till samples of up to 560 grains per 10kg. In addition to 2,030 metres of diamond drilling focused along a three kilometer strike length of the IPLS, a 1,323 line kilometer airborne Electromagnetic (EM) and Magnetic survey was completed, and 716 additional glacial till samples were collected for gold grain analysis. To-date Orford has only received 15% of Drill core sample analyses, 41% of grab sample analyses, and 13% of glacial till sample analyses.  The vast majority of sample analysis is still outstanding due to very slow turnaround of sample results at assay laboratories.

Highlights of Results received to date:

  • Drill hole assays received to date show anomalous gold results (Table 1 & 2, Figure 1) of up to 0.9 g/t Au associated with mineralized shear zones and quartz veining. 85% of drill hole assay results are outstanding (Table 1).
  • Grab samples received to date further define the high grade Annick gold trend and report up to 97.5 g/t Au (Table 3, Figure 1). 59% of grab sample assay results are outstanding.

Highlights of the 2021 Exploration Program Include:

  • Very high gold grain in till anomalies to the north of the IPLS were successfully cut off to the south providing further evidence the IPLS is the potential host of gold mineralization indicated by the gold in glacial till samples and high-grade boulder trains to the north of the IPLS.
  • The Annick high grade gold in grab sample trend has now been traced for 3.7 kilometres at surface. The linear nature of this trend suggests that it is more likely associated with a North-Northeast trending structure rather than a boulder dispersion train. New grab samples sent for rush assay reported up to 97.5 g/t Au. A high density till grid for gold grain counts was collected to help define targets along this trend. Results are outstanding.
  • A sulphidic iron formation within the IPLS has been intersected in several drill holes over 1.6 kilometres E-W strike of the IPLS. Interaction between the sulphidic iron formation and the IPLS may be one possible source of the gold grain in glacial till anomalies to the North of the IPLS.
  • Drilling has intersected several shear-parallel and horizontal extensional quartz veins which are variably mineralized. The horizontal extensional veins intersected in drilling show alteration and geochemical signatures similar to some high-grade boulder trains at surface. 

Complete drill hole descriptions can be found on the news release dated September, 28, 2021.

David Christie, President and CEO of Orford, commented, “The Summer 2021 exploration program at Qiqavik has been successful in intersecting alteration and mineralization across nearly 3 kilometres of IPLS strike length.  We also believe we are much closer to understanding the source to the very high-grade Annick boulder train which is now 2.6 kilometres long.  We eagerly await the complete set of analytical results and the return to Qiqavik in 2022”.

Note that grab samples are selective by nature and values reported may not be representative of mineralized zones. Till gold grain results from IOS Geoscientific, total gold grain is coarse(+50um) plus fine (-50um).

To date analytical results have been received for only a very small portion (1.5% or 22 of 1,426 samples) of the samples taken in the drill program (Table 1). To-date we have received 15 %   of  the drill core samples,  and 41% of  the surface grab sample analysis results.  In general we would estimate that sample analysis turn around is at least 3 times longer than normal due to  heightened global exploration activity.Table 1: 2021 Drill holes with percentage of assays reported.

Hole Number

Total Number
of Core
Samples

Total Number of
Sample analysed

Ratio of
analysed sample

QK-21-001

146

56

38.4%

QK-21-002

257

96

37.4%

QK-21-003

213

16

7.5%

QK-21-004

42

0

0.0%

QK-21-005

19

0

0.0%

QK-21-006

205

0

0.0%

QK-21-007

124

6

4.8%

QK-21-008

130

0

0.0%

QK-21-009

217

33

15.2%

QK-21-010

91

18

19.8%

QK-21-011

82

11

13.4%

Total

1526

236

15.5%

Table 2:  Anomalous gold assays from drilling received to date (MShrz-mineralized shear zone, Aspy-Arsenopyrite, Vqtz-Quartz Viens, Py-pyrite). Note that 85% of core assays are still outstanding as per Table 1. All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information. Hole QK-21-007 was previously reported.

Au (g/t) Results for Core Samples. (0.5 g/t cut off)

Hole
number

From

To

Sample
Number

Sample
Type

Comments

Au
g/t

As
ppm

Cu
ppm

Pb
ppm

S %

Zn
ppm

QK-21-007

77

78

D00163722

Core

MShrZ

0.89

270

210

10

9.54

100

QK-21-011

109.18

109.65

B00393705

Core

Aspy 0.5%
Vqtz 30cm
grinded

0.79

2710

90

10

0.43

110

QK-21-010

144.58

145.21

B00393180

Core

Vqtz 50%
Aspy/Py

0.65

3280

40

10

0.38

80

QK-21-010

68.91

69.28

B00393137

Core

Vqtz 30%
Aspy/Py 0.5%

0.52

1890

40

10

0.65

90

Table 3: New Anomalous Gold Results in Grab Samples. Note that 41% of grab sample assays have been reported. Note that grab samples are selective by nature and values reported may not be representative of mineralized zones

Au (g/t) Results for Grab Samples. (1.0 g/t cut off)

Point number

Northing

Easting

Sample Number

Sample Type

Au g/t

Ag g/t

Cu ppm

Pb ppm

S %

Zn ppm

21JL0010

6820570

477545

D00167010

Grab

97.5

23

70

7430

8.52

670

21JL0020

6820115

477350

D00167021

Grab

90

29

30

4020

8.09

90

21JL0047

6820146

477344

D00167039

Grab

70

34

140

9300

3.78

280

21JL0008

6820576

477519

D00167008

Grab

53.1

18

230

1090

4.55

700

21JL0050

6820126

477342

D00167042

Grab

50.6

13

20

650

0.16

40

21JL0049

6820291

477412

D00167041

Grab

49.5

26

30

10300

3.3

110

21JL0021

6820183

477359

D00167022

Grab

19.95

17

50

4730

1.72

110

21JL0084

6821155

480131

D00167071

Grab

8.49

1

40

10

5.47

40

21JL0009

6820573

477536

D00167009

Grab

4.31

2

70

690

1.24

210

21MC0004

6821003

480002

D00167404

Grab

3.34

1

788

1

3.2

101

21JL0034

6820617

478035

D00167034

Grab

3.04

1

10

10

1.26

30

21JL0028

6818551

476389

D00167028

Grab

2.86

2

390

10

0.87

140

21NB0026

6819220

477055

D00167610

Grab

2.5

2

120

10

0.97

80

21JL0018

6819946

477275

D00167018

Grab

1.87

6

215

132

0.35

129

21MC0069

6824555

483296

D00167457

Grab

1.53

174

40

200000

3.07

40

21JL0023

6819196

477000

D00167023

Grab

1.29

1

140

30

0.8

110

21JL0029

6819484

476992

D00167029

Grab

1.1

1

94.3

1

0.64

84

Table 4: Summary of 2021 Drillhole Locations and Parameters

Hole Number

Northing

Easting

Azimuth

Collar
Dip

Length (m)

# samples

# Received

QK-21-001

6821250

480024.6

180

-45

198

146

0

QK-21-002

6821164

480419.7

192

-45

303

257

0

QK-21-003

6820533

477564.1

310

-45

219

213

16

QK-21-004

6820288

477424.3

293

-45

84

42

0

QK-21-005

6820312

477371.1

113

-45

51

19

0

QK-21-006

6820830

478689.5

130

-45

217

205

0

QK-21-007

6820731

478807.3

130

-45

196.7

124

6

QK-21-008

6820748

477318.8

130

-45

213

130

0

QK-21-009

6820730

479233.3

340

-45

261

217

0

QK-21-010

6820722

478980

180

-45

159

91

0

QK-21-011

6820722

478980

180

-65

129

82

0

total(m)

2030.7

About Orford Mining Corporation
Orford Mining is a gold explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford’s principal assets are located in two areas the Cape Smith Belt in the Nunavik region and the Joutel region of the Abitibi district. The Qiqavik and West Raglan projects comprise a land package totaling over 105,000 hectares in the Cape Smith Belt of Northern Quebec. The Qiqavik Project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 km. The West Raglan project hosts a number of high-grade Raglan-style nickel/copper/platinum group metal discoveries along a 50 km mineralized trend. Orford has acquired four property positions (Joutel – Eagle, McClure East, Joutel – South and Joutel – Omega) totaling 26,815 hectares in the Joutel region of the Abitibi district of northern Quebec, which hosts historical deposits such as the Eagle/Telbel, Joutel Copper, Poirier Copper, and Vezza deposits. Orford continually seeks new gold exploration opportunities in North America. Orford’s common shares trade on the TSX Venture Exchange under the symbol ORM. This information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining’s properties.

To view further details about the Orford’s Projects please visit Orford’s website, www.orfordmining.com.

Qualified Person
The disclosure of scientific and technical information contained in this news release has been approved by Alger St-Jean, P.Geo., Chief Geoscientist of Orford, a Qualified Person under NI 43-101.  

2021 Grab & Drill Core samples

Two labs were used during the 2021 Qiqavik program. ALS Geochemistry, Val-d’Or, Québec was used for the rush dispatch and SGS Canada Inc. in Val-d’Or, Québec was used for regular dispatch. Sample shipments were sealed and shipped to ALS Geochemistry or SGS Canada Inc., both in Val-d’Or, Québec.

For the samples send to ALS Geochemistry, all gold assays reported were obtained by standard fire-assaying-AA finish on 50-gram nominal weight for core samples and 30-gram nominal weight for grab samples or by gravimetric finish in the case of overlimits (method Au-AA26, Au-AA25 and Au-GRA22) at ALS Geochemistry, Val- d’Or, Quebec. All samples are also analyzed for multi-elements, including copper and silver, using a four-acid method with an ICP-AES finish (method ME-ICP61a) at ALS Geochemistry, Vancouver, British Colombia. Overlimits were analyzed by four-acid method with an ICP-OES or AAS finish (Method OG62). 

For the samples analyzed to SGS, all gold assays reported were obtained by fire-assaying-AA finish or gravimetric finish on 50-gram nominal weight for core samples and 30-gram nominal weight for grab samples (method GE_FAA50V5, GE_FAA30V5 and GO_FAG30V5). All samples are also analyzed for multi-elements, including copper and silver, using a four-acid method with an ICP-OES (method GE_ICP40Q12) and an additional analysis for the element tellurium is added to the suite using a four-acid method with ICP-MS finish (method GE_IMS40Q12) at SGS Canada Inc. in Lakefield, Ontario. Overlimits were analyzed by four-acid with ICP-OES finish (GO_ICP42Q100).

Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are inserted at a minimum of 10% for core and 5% for grab samples respectively for QA/QC purposes in addition to those inserted by the lab. A subset of samples has not yet been sent for a verification assay at another lab. ALS Geochemistry and SGS Canada Inc. are accredited by the Standards Council of Canada and found to comply with the requirements of ISO/IEC 17025:2005.

Till Samples (IOS)

Till samples were collected on Qiqavik by collecting 7kg of till from frost boils. Samples were sent to IOS Chicoutimi where samples are described, logged and photographed. Wet sieving is applied along with a falcon concentrator. Gravimetric separation is applied using ARTGoldTM fluidized bed to recover gold grains. The > 50 µm material is examined using a research grade Leica M205C apochromatic stereomicroscope to count gold grains and other minerals of interest. Grains of interest are picked and are mounted on a glass slide using a double-sided adhesive tape to confirm their nature with the scanning electron microscope (SEM). Although identification success rate is in excess of 95%, a second visual sorting is systematically performed on one in every ten samples as part of the quality assurance program. As part of the quality control, a second concentrate is collected from the fluidized bed tails and processed for gold grain counts, for 10.5% of the sample population. The analytical results of these replicates were added with the initial microconcentrates. The finer fraction of the superconcentrates (< 50 µm) is dusted on a 4 x 4 cm double sided tape to form a monolayer of grains, to be submitted to ARTGold™ counting by an automated SEM to detect gold particles in the fine fraction (< 50 μm) of the concentrate.

Cautionary Statement Concerning Forward-Looking Statements

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

This news release contains “forward-looking information” including without limitation statements relating to the liquidity and capital resources of Orford and potential of one or more of the Qiqavik, and West Raglan, properties.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Orford to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Orford’s filings with Canadian securities regulators available on SEDAR at www.sedar.com.

Although Orford has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Orford disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

The TSXV has neither approved nor disapproved the contents of this news release.

SOURCE Orford Mining Corporation







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