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Teuton Reports 4th Significant Gold-Silver Discovery at Treaty Creek with Drill Hole CBS-21-02 Intercepting 1.30 g/t Gold Eq Over 53.9m Within 155.5m of 0.82 g/t Gold Eq at “Calm Before The Storm Zone” (CBS)

 

Vancouver, Canada – TheNewswire – November 24, 2021 –– Teuton Resources Corp.  (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF)…

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Vancouver, Canada – TheNewswire – November 24, 2021 –– [nxtlink id="269577"]Teuton Resources Corp.[/nxtlink]  (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt-TFE) has received a report from its joint venture partner [nxtlink id="269607"]Tudor Gold[/nxtlink] presenting the fourth set of results from the 2021 resource expansion and definition drilling program at the Treaty Creek property north of Stewart, BC. The project is located in the heart of the Golden Triangle of northwestern British Columbia and is on-trend from Seabridge’s KSM Project located five kilometers southwest of the Goldstorm Deposit.

[nxtlink id="269607"]Tudor Gold[/nxtlink] announced the safe completion of the 2021 Exploration Program, which included a total of 30,108 meters of drilling.  Results from the final eleven drill holes from Goldstorm, one hole at CBS, and several surface chip sample lines from the Eureka Zone are expected to be received shortly and will be released once final analysis and interpretation is completed.

Calm Before the Storm Results

CBS is the fourth significant precious metal mineralized zone to be discovered at the Treaty Creek Project. The CBS Zone is located two kilometers northeast of the Goldstorm Deposit and occurs on the same structural trend that hosts the Perfect Storm Zone (PSZ) and the Copper Belle-Goldstorm Deposit (CB-GS), which currently hosts an estimated Measured and Indicated Mineral Resource of 19.4 million ounces of AuEq grading 0.74 AuEq and an Inferred Resource of 7.9 million ounces of AuEq grading 0.79 AuEq (see Teuton news release dated March 8, 2021).

 

Treaty Creek, CBS Zone Drilling and Surface Sampling Highlights include:

 

  • Identified a new mineralized zone, “Calm Before the Storm”, near the lower Treaty Camp; 15% (25 out of 170) of rock chip samples assayed 0.5 g/t AuEq and 5% (8 out of 170) of samples contained 1.0 g/t AuEq. 

  • Drill results at Calm Before the Storm from the deeper hole, CBS-21-02, which returned 1.30 g/t AuEq over 53.9m within 155.50m of 0.82 g/t AuEq, demonstrate that gold-silver mineralization is getting stronger at depth 

  • The Upper and Lower Exploration camps were closed in early November, but on-going environmental and climatic studies will continue throughout the year with helicopter support provided by Yellowhead Helicopters based in Stewart, B.C. 

 

[nxtlink id="269607"]Tudor Gold[/nxtlink]’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo., stated: “Our 2021 exploration program has been exceptionally successful at broadening our understanding of the mineralization throughout the Treaty Creek Property. The Project now has four large geological targets that require extensive exploration and drilling, including the Goldstorm Deposit which remains open in all directions and at depth. The size and scope of our exploration program is growing exponentially with each new discovery to add to the chain of precious and base-metal deposits and targets associated with the extensive Sulphurets-Treaty thrust fault system. We are very pleased with the results of the surface sampling programs and in-particular the discovery hole from our preliminary drill results at our new zone, Calm Before the Storm (CBS). The gold and silver values at CBS are interpreted to be hosted within possibly younger rocks than the host lithologies at Goldstorm. Drill hole CBS-21-02 intersected a distinct mineralized zone with 1.30 g/t AuEq over 53.9m within 155.50m of 0.82 g/t AuEq. Our geological crews require further review of this core after compiling the assay results to determine the controls for gold and silver distribution and emplacement.”

The complete list of composited drill hole results for CBS, as well as the drill hole data, including hole location, elevation, depth, dip and azimuth, are provided in Table 1 and Table 2, respectively. A list of highlighted surface chip and channel samples from CBS are included in Table 3.  Included at the end of this release, is a URL for a plan map and cross sections for the drilling and surface samples reported.

 Drilling Results Calm Before the Storm Zones in Press Release November 23, 2021

Section / Plan

Hole / Chip Line

From (m)

To

(m)

Interval (m)

Au

(g/t)

Ag

(g/t)

Cu      ppm

AuEQ (g/t)

A – 180

CBS-21-01

14.25

33.50

19.25

0.37

0.67

16

0.38

 

and

141.50

170.00

28.50

0.30

12.67

40

0.46

A – 180

CBS-21-02

150.50

306.00

155.50

0.78

2.34

41

0.82

 

includes

252.10

306.00

53.90

1.24

4.35

59

1.30

  • All assay values are uncut and intervals reflect drilled intercept lengths. 

  • HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals 

  • The following metal prices were used to calculate the Au Eq metal content: Gold $1625/oz, Ag: $19/oz, Cu: $2.8/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.01169) + (Cu% x 1.1815). All metals are reported in USD and calculations do not consider metal recoveries. 

  • True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths. 

 

 

Table 2: Drill data for holes in Press Release November 23, 2021

Section

Hole ID

UTM E NAD 83

UTM N NAD 83

Elevation (m)

Azi (ᵒ)

Dip (ᵒ)

Depth (m)

A – 180

CBS-21-01

430616.2

6273880.5

979.6

140

-45

404

A – 180

CBS-21-02

430726.0

6273999.1

981.2

200

-45

512.1

 

Table 3: CBS Surface Sample Results in Press Release November 23, 2021

Sample

Zone

UTM E NAD 83

UTM N NAD 83

Elevation (m)

Type

Length

Au (g/t)

Ag (g/t)

Cu ppm

AuEQ (g/t)

X557688

CBS

430597.96

6273813.37

983.09

CHIP

2.00

0.76

27.45

219

1.11

X557681

CBS

430636.86

6273826.34

970.60

CHIP

2.00

0.88

13.35

166

1.06

X557680

CBS

430649.89

6273842.01

970.91

CHIP

1.50

0.90

12.97

219

1.07

X557683

CBS

430655.56

6273839.43

970.17

CHIP

2.00

0.90

13.89

119

1.07

X557677

CBS

430659.90

6273839.86

969.83

CHIP

2.00

1.38

16.89

160

1.60

X557676

CBS

430661.90

6273840.15

969.70

CHIP

2.00

1.50

16.02

252

1.72

X557675

CBS

430663.74

6273839.46

969.65

CHIP

1.50

0.96

10.41

190

1.11

A0513471

CBS

430717.50

6273948.00

976.08

CHANNEL

1.50

1.08

14.54

53

1.26

 

D. Cremonese, P. Eng., President of Teuton Resources commented as follows: “The discovery of the CBS zone, in an area that was covered by ice less than thirty years ago, underscores the potential of the Treaty Creek property to host multiple zones of gold-bearing mineralization.   This is the 4th sizeable zone to be discovered and more are likely to be found as ablation (glacial meltback) continues.   In addition to those discovered to date, the property has potential for maar/diatreme associated gold deposits, precious metal rich VMS deposits and high sulphidation gold deposits”.

The Treaty Creek Project is a Joint Venture with [nxtlink id="269607"]Tudor Gold[/nxtlink] owning 60% and acting as operator.  Teuton Resources and American Creek each have a 20% interest in the project.  Teuton and  American Creek are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both Teuton and American Creek have “free rides”.

Qualified Person

The Qualified Person for the Treaty Creek data in this news release is [nxtlink id="269607"]Tudor Gold[/nxtlink]’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo.  Mr. Konkin is also a director of Teuton.  He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

QA/QC

Drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream.  MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.

About Teuton

Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model.  Teuton earned $3.9 million net income in 2020 and a further $2.4 million in the first quarter of 2021.  Its income is derived from option payments.

Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985.  It presently holds a 20% carried interest in Treaty Creek (carried until such time as a production decision is made) and a 0.98% NSR in the Goldstorm deposit area.  Interested parties can access information about Teuton at the Company’s website, www.teuton.com.

Figures & Videos Accompanying News Release

Please click link to view Plan Map and Cross-Sections:  http://teuton.com/CBSZoneMaps

On Behalf of the Board of Directors of Teuton Resources:

“Dino Cremonese, P.Eng.”

Dino Cremonese, P. Eng.,

President and Chief Executive Officer

For further information, please visit the Company’s website at www.teuton.com or contact:

Barry Holmes

Director Corporate Development and Communications

Tel. 778-430-5680

Email:  [email protected]

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 regarding Forward-Looking information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.

All statements relating  to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly 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 otherwise required by applicable securities legislation.

  

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Rockcliff Identifies Near Surface High-Grade Copper and Zinc Mineralization at the Copperman Property Including 4.35% CuEq Across 6.00 Metres and 3.33% CuEq Across 8.3 Metres

Toronto, Ontario–(Newsfile Corp. – November 24, 2021) – Rockcliff Metals Corporation (CSE: RCLF) (OTCQB: RKCLF) ("Rockcliff" or the "Company") is pleased…

Toronto, Ontario–(Newsfile Corp. – November 24, 2021) – Rockcliff Metals Corporation (CSE: RCLF) (OTCQB: RKCLF) (“Rockcliff” or the “Company”) is pleased to announce high-grade near surface assay drill results from its phase one drill program at the Company’s 100% owned Copperman Property located in the Snow Lake mining camp in Manitoba.

Significant interpreted true thickness highlights from the first four holes include:

  • RCU21-001: 7.1 m grading 3.06% CuEq including 5.0 m grading 4.00% CuEq
  • RCU21-002: 6.0 m grading 4.35% CuEq including 4.0 m grading 5.89% CuEq
  • RCU21-003: 8.3 m grading 3.33% CuEq including 5.3 m grading 4.62% CuEq
  • RCU21-004: 5.0 m grading 2.64% CuEq including 3.0 m grading 3.32% CuEq

Rockcliff’s Interim President and CEO Don Christie commented, “We are extremely pleased with these high-grade assay results from the initial drill holes at Copperman. The near-surface widths are also very encouraging and we hope the ongoing drill program continues to produce these types of impressive results. The fact that the high-grade zone of copper-zinc mineralization and several other lower grade zones are hosted in a classic bi-modal volcanic environment is a testament to the prospectivity of the property for volcanogenic massive sulphides (VMS). Several other near surface geophysical anomalies similar to the one that is associated with the historical Copperman Deposit are untested with significant upside potential.”

Significant true thickness drill core assays from Rockcliff’s phase one drill program are summarized below.

Hole # From (m) To (m) Length (m) Copper % Zinc % Gold g/t Silver g/t CuEq*
RCU021-001 42.88 50.00 7.12 1.88 2.52 0.18 6.00 3.06
includes 44.00 49.00 5.00 2.47 3.24 0.24 7.93 4.00
RCU021-002 52.00 58.00 6.00 2.82 3.09 0.27 10.95 4.35
includes 53.00 57.00 4.00 3.86 4.04 0.38 14.95 5.89
includes 54.00 55.00 1.00 7.11 9.95 0.79 27.60 11.88
RCU021-003 71.70 80.00 8.30 1.88 3.29 0.12 7.36 3.33
includes 71.70 77.00 5.30 2.61 4.56 0.17 10.12 4.62
includes 71.70 72.70 1.00 5.13 7.50 0.22 17.90 8.39
RCU021-004 95.40 97.00 1.60 2.06 0.92 0.32 7.90 276
and 114.00 119.00 5.00 0.48 5.32 0.07 3.80 2.64
includes 114.00 117.00 3.00 0.60 6.75 0.07 4.33 3.32

 

(m) = metres represents true thickness, % = percentage, g/t = grams per tonne, *CuEq = copper equivalent value used US$3.25/pound copper, US$1.25/pound zinc, US$1750/ troy ounce gold and US$22 /per ounce silver. CuEq = Cu grade % + (Zn grade % X Zn price per lb / Cu price per pound) + (Au grade g/t X Au price per gram / Cu price per tonne) X 100 + (Ag grade g/t X Ag price per gram / Cu price per tonne) X 100. No process recoveries or smelter payables were included in the calculation. The numbers may not add up due to rounding.

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Figure 1: Plan Surface TDEM view of Copperman Property highlighting the historical Copperman Deposit (circled) and surface untested geophysical anomalies.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3071/104932_f756690d24e0c825_001full.jpg

To-date, a total of 15 holes have been completed totalling 2,670 metres targeting the historical Copperman deposit have been completed. An additional 10 holes are planned.

Additional drill hole information is summarized below.

Hole # UTM-E UTM-N Dip° Azimuth° Length-metres
RCU021-001 443288 6056177 -45 325 151
RCU021-002 443304 6056171 -45 325 101
RCU021-003 443316 6056153 -45 325 131
RCU021-004 443317 6056158 -65 325 176

 

Quality Control and Quality Assurance

Samples of half core were packaged and shipped directly from Rockcliff’s core facility in Snow Lake to ALS Canada Ltd. (ALS), in Thunder Bay, Ontario. ALS is a Canadian assay laboratory and is accredited under ISO/IEC 17025. Each bagged core sample was dried, crushed to 70% passing 10 mesh and a 250g pulp is pulverized to 85% passing 150 mesh for assaying. A 0.5g cut is taken from each pulp for base metal analyses and leached in a multi acid (total) digestion and then analyzed for copper, lead, zinc and silver by inductively couple plasma atomic emission spectroscopy. Gold concentrations are determined by fire assay using a 30g charge followed by an atomic absorption finish. Samples greater than the upper detection limit (3000 ppb) are reanalyzed using fire assay gravimetric using a 1 assay ton charge. Rockcliff inserted certified blanks and standards in the sample stream to ensure lab integrity. Rockcliff has no relationship with ALS other than ALS being a service provider to the Company.

Ken Lapierre P.Geo., VP Exploration of Rockcliff, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release.

About Rockcliff Metals Corporation

Rockcliff is a Canadian resource development and exploration company with several advanced-stage, high-grade copper and VMS dominant deposits in the Snow Lake area of central Manitoba. The Company is a major landholder in the Belt which is the largest Paleoproterozoic VMS district in the world, hosting high-grade mines and deposits containing copper, zinc, gold and silver. The Company’s extensive portfolio of properties totals approximately 4,000 km² and includes seven of the highest grade, undeveloped VMS deposits in the Belt. Rockcliff has a joint venture with Hudbay at the Company’s 49% owned Talbot Copper Deposit.

For more information, please visit http://rockcliffmetals.com
YouTube: Rockcliff Metals Corporation
Twitter: @RockcliffMetals
LinkedIn: Rockcliff Metals Corp
Instagram: Rockcliff_Metals
Facebook: Rockcliff Metals Corporation

For further information, please contact:
Rockcliff Metals Corporation
Don Christie
Interim President & CEO
Cell: (416) 409-8441
[email protected]

Cautionary Note Regarding Forward-Looking Statements: This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Rockcliff believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results or developments may differ materially from those in the forward-looking statements.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104932






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TRU Precious Metals Confirms Second District-Scale Gold Trend Through Soil Sampling Program at Golden Rose Project

Fredericton, New Brunswick–(Newsfile Corp. – November 24, 2021) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) ("TRU" or the "Company")…

Fredericton, New Brunswick–(Newsfile Corp. – November 24, 2021) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to report recently-received soil sampling results from its flagship Golden Rose Project (“Golden Rose”) in Newfoundland, Canada.

Golden Rose is a regional-scale land package covering approximately 236 square kilometres (km2) in the Central Newfoundland Gold Belt, including approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake Shear Zone between Marathon Gold Corp.’s Valentine Gold Project to the northeast and Matador Mining Ltd.’s (“Matador”) Cape Ray Gold Project to the southwest.

Highlights

  • Confirmation of a district-scale gold anomalous trend over approximately 20 kilometres associated with a district-scale shear zone, which extends onto King George IV area of Golden Rose where TRU is currently drilling
  • Delineation of several discrete clusters of highly anomalous gold values
  • Multiple trenching targets have been identified and gold anomalies are open for expansion
  • Polymetallic signatures in gold/copper indicated in both rocks and soils along this structure

Barry Greene, VP of Property Development and a Director of TRU, commented: “As soon as we plotted the data and looked at it in the context of the regional magnetic geophysical signatures, I couldn’t help but think back to the early days at the Valentine Lake project. The scale and scope of this newly identified soil anomalous trend on Golden Rose reminded me of the regional scale soil anomalous trend I saw when I first started working on the Valentine Lake project in 1988, in the early discovery days. As we were trenching at Valentine Lake and uncovering gold mineralized veins, we were following the soil anomalies along the Valentine Lake regional structural break. It’s like looking at the Valentine Lake soils data from 33 years ago.”

Sampling Results

TRU has received almost all of the soils and rock analytical data collected during the 2021 field season, which has confirmed a new district-scale anomalous gold trend at Golden Rose over approximately 20 km of strike length. This data further solidifies the Company’s belief in the exploration potential of the shear zone/thrust fault contact between the Windsor Point Group and the King George IV ophiolite and the Rainy Lake complex gabbro along the northwest side of Golden Rose. TRU also believes that the data confirms it has opened a new, previously unrecognized area for exploration.

As the shear zone wraps around the ophiolites (Figure 1), the ophiolites appear to be structurally dissected, creating a distinct series of likely brittle second and third order structures. The structural architecture can be imaged in the aerial magnetic data (Figure 2). This will be a priority for expansion of future soil sampling to fully delineate the anomalous trend.

At the north end of this newly identified regional trend, rock sampling from bedrock and from local float confirms a gold-copper signature at the Jacob’s Pond gold prospect. Following along the Jacob’s Pond trend to the southwest, in association with this anomalous soils data, TRU’s field crews have collected several heavily copper mineralized samples including one sample which assayed 14.3 grams per tonne (g/t) gold, 11.0% copper, 368 g/t silver and 0.12% antimony (Figure 3).

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Figure 1 – Regional 2021 gold in soils on geology

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/104886_33d56574d45dbaec_001full.jpg

  

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Figure 2 – Regional 2021 gold in soils on gradient magnetics

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5993/104886_33d56574d45dbaec_002full.jpg

  

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Figure 3 – Regional 2021 gold in soils near Jacob’s Pond Gold Prospect

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5993/104886_33d56574d45dbaec_003full.jpg

Joel Freudman, Co-Founder and CEO of TRU, added: “I am very pleased that our Exploration team has identified a significant and highly-prospective new district-scale structure at Golden Rose . As this is in addition to the 45 km section of the Valentine Lake Shear Zone transecting Golden Rose, we now have much more high-priority real estate for exploration along this structural corridor, which we think may correlate with the Cape Ray Shear Zone running up from Matador’s Cape Ray deposits. As an added bonus, early indications in our soil and rock samples suggest this structure could have polymetallic potential. We remain hard at work in our efforts to unlock value for our shareholders from our flagship Golden Rose Project.”

The Company is considering an expansion of its regional exploration program in early 2022 along this newly-recognized regional structure, which may include an IP survey over the winter ice, in order to lay the groundwork for a spring 2022 trenching and/or drilling program on newly-advanced targets.

National Instrument 43-101 Disclaimers

Note that soil, rock and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Golden Rose to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.

Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.

About TRU Precious Metals Corp.

TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and earlier-stage properties in the region. TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture Market under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.

TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/.

For further information about TRU, please contact:

Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
Website: www.trupreciousmetals.com

To connect with TRU via social media, below are links:

Twitter
https://twitter.com/corp_tru

LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp

YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/

Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616

Acknowledgement

TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion of its 2021 exploration activities at the Twilite Gold Project.

Cautionary Statements Regarding Forward-Looking Information

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

This press release contains certain forward-looking statements relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, and the Company’s exploration and drilling plans, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities, and operational problems relating to drilling; volatility in precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.

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G Mining Ventures Exercises Early Buydown of Royalty on Tocantinzinho Project

All amounts are in USD unless stated otherwiseBROSSARD, QC / ACCESSWIRE / November 24, 2021 / G Mining Ventures Corp. (" GMIN " or the " Corporation ")…

All amounts are in USD unless stated otherwise

BROSSARD, QC / ACCESSWIRE / November 24, 2021 / G Mining Ventures Corp. (“ GMIN ” or the “ Corporation “) is exercising its right to buydown 1.0% of the total 3.5% net smelter return royalty (“ NSR “) held on its Tocantinzinho Gold Project (the “ Project “), resulting in a NSR of 2.5% (the “ First Buydown Right “). In consideration for the First Buydown Right, the Corporation will make a cash payment of $2.0 million to the original royalty holders pursuant to the agreement dating back to 2003, as subsequently amended (the “ Original Royalty Holders “). The buydown of the NSR provides increased exposure to the Project’s exploration potential, while reducing the projected operating costs.

Furthermore, the royalty agreement permits the Corporation to repurchase and cancel a further 1.0% of the NSR by making an additional $3.5 million cash payment within 30 days of a construction decision, which is also payable to the Original Royalty Holders.

Louis-Pierre Gignac, President & CEO of GMIN, commented : “We view the first $2.0 million buydown for 1.0% of the NSR as a highly accretive transaction to GMIN’s shareholders based on the modelling and economics as presented in the existing feasibility study completed in 2019 i , as well as the recent market transactions of the NSR completed this year. When presented with the right to reduce the effective NSR to 2.5%, we were eager to take advantage of this opportunity to further improve the economics and value of our Project. Post buydown, GMIN remains well capitalized to update the Project’s feasibility study and meet its target of advancing the Project to a construction decision for H2-22.”

Timetable and Next Steps

Over the next 12 months, GMIN will be focused on the following activities:

  • Completion of a 10,000 meter exploration and drilling program (Q4-21 through Q1-22) ii ;
  • Completion of project optimization studies and detailed engineering (Q4-21 through Q4-22);
  • Completion of an updated 43-101 feasibility study (Q1-22);
  • Commencement of onsite early works activities to support infrastructure and allow for rapid start of construction activities (Q2-22 through Q3-22);
  • Finalization of a comprehensive project finance facility to fund construction (H1-22); and
  • Positive construction decision (H2-22).

About G Mining Ventures Corp.

G Mining Ventures Corp. (TSXV:GMIN) is a mineral exploration company engaged in the acquisition, exploration and development of precious metal projects. Its flagship asset, the permitted Tocantinzinho Project, is located in Para State, Brazil. Tocantinzinho is an open-pit gold deposit containing 1.8 million ounces of reserves at 1.4 g/t. The deposit is open at depth, and the underexplored 688km 2 land package presents additional exploration potential.

Additional Information
For further information on GMIN, please visit the website at www.gminingventures.com or contact:

Dušan Petković
Vice President, Corporate Development & Investor Relations
647.728.4176
[email protected]

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 press release.

Cautionary Statement on Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to:

  • The $2.0 million buydown’s positive impact on the Project’s economics and value, notably its operating costs and the resulting increased exposure to exploration potential;
  • The $2.0 million buydown being a highly accretive transaction to GMIN shareholders;
  • The filing of an updated 43-101 technical report in Q1-22;
  • The eventual positive construction decision for H2-22 and its potential exercise of its second buydown right;
  • More generally, the above section entitled “Timetable and Next Steps”;
  • The Project’s stage of advancement and permitting status, and the deposit being open at depth; and
  • The Project’s additional exploration potential from the “underexplored” land package.

Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, the items listed on the above section entitled “Timetable and Next Steps”.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that the Corporation will make a positive construction decision in H2-22, will exercise its right to a second buydown and will bring the Project into commercial production, as future events could differ materially what is currently anticipated by the Corporation.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation’s other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant section of the Corporation’s Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation 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.

[i] Feasibility study technical report entitled “Technical Report Tocantinzinho Project Brazil” effective date of June 21, 2019, filed on SEDAR by Eldorado Gold Corporation on August 9, 2019.

[ii] Detailed in the Corporation’s press release dated November 8, 2021.

SOURCE: G Mining Ventures Corp.

View source version on accesswire.com:
https://www.accesswire.com/674523/G-Mining-Ventures-Exercises-Early-Buydown-of-Royalty-on-Tocantinzinho-Project





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