SilverCrest Metals Inc. (TSXV: SIL.V; OTCQX: SVCMF) is a Canadian precious metals exploration company headquartered in Vancouver, BC , that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company is led by a proven management team in all aspects of the precious metal mining sector, including the pioneering of a responsible "phased approach" business model taking projects from discovery, finance, on time and on budget construction, and production with subsequent increased value to shareholders.
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VANCOUVER, British Columbia, Aug. 17, 2018 (GLOBE NEWSWIRE) -- Golden Arrow Resources Corporation (TSX-V: GRG, FSE: GAC, OTCQB: GARWF), “Golden Arrow” or the “Company”) is pleased to report that the 2018 second quarter results for Puna Operations Inc. (“Puna”) as reported by Golden Arrow’s joint venture partner and project operator SSR Mining (“SSRM”) in a news release dated August 9th, 2018 and filed on SEDAR.
Highlights from the release include:
“We are pleased to once again report to our shareholders that SSRM continues to demonstrate strong operational performance for Puna,” stated Golden Arrow Executive Chairman, President and CEO Joseph Grosso. “Having a reliable operator for Puna allows us to focus our energies on our on-going exploration and acquisition activities to build additional resources and value in Golden Arrow.”
Mr. Brian McEwen, P.Geol., VP Exploration and Development to the Company is a Qualified Person as defined in National Instrument 43-101, and has reviewed and approved the contents of the news release. Mr. McEwen has significant prior experience with exploration and development projects in Chile.
About Golden Arrow:
Golden Arrow Resources Corporation is an exploration company earning production income. The Company has a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. Golden Arrow owns a 25% share of Puna Operations Inc., a joint venture operated by SSR Mining, with more than 8 years of forecast production and upside potential at the Pirquitas -Chinchillas silver mining project. Golden Arrow is actively exploring on its more than 200,000 hectares of properties in Argentina. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
For further information, please contact:
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 news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a0f5c883-9664-4203-b2cd-c0d7861ba075
TORONTO, Aug. 17, 2018 (GLOBE NEWSWIRE) -- VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) today announced assay results from 6 additional diamond drill holes (DDH) from the ongoing drilling program at its Samalayuca Copper Property (the “Property”) in northern Chihuahua State, Mexico. A total of eleven DDH’s have now been completed in the Gloria Extension Zone (GEZ). The results from five of these holes (SC17-22, SC17-23, SC18-24, SC18-25 and SC18-26) have previously been reported. All eleven DDH’s which tested the zone intersected significant copper mineralization as detailed in the table below.
This completes the drill program on the GEZ, with the results defining and extending the copper mineralization in the near surface zone. A total of 1,299.5 meters have been drilled in eleven holes, two in 2017 and nine in 2018. The drill holes, which tested a 200-meter section of a 350-meter strike length zone, all intersected near surface, copper mineralization. The Company commenced drilling in early August in the Gloria Extension East Zone (GEEZ), located 20 meters to the east of the GEZ, separated from it by a fault. The GEEZ is an “on strike” extension of the GEZ with copper mineralization traced by artisanal miners over an 850 m strike length.
Results from the eleven (11) drill holes testing the GEZ, are summarized below, with only values >0.1% Cu shown.
The GEZ is a copper mineralized zone, previously discovered and mined by artisanal miners (gambusinos) in the 1950’s and 1960’s, from two shallow open pits. VVC started diamond drilling in November 2017 and completed the last of the eleven DDH, SC-17-022, SC-17-023 and SC-18-024-032 in July. Results from the first five DDH have previously been reported, with the three most recent, SC-18-024-026, reported in a news release dated August 2, 2018.
VVC’s Chairman, Dr. Terrence Martell pointed to the results from the GEZ as further confirmation of the potential of the Company’s Samalayuca Copper Property and added. “We are now focused on drilling the 850-meter strike length of the GEEZ where eight holes have been drilled to date, all intersecting near surface copper mineralization. Assays are pending and will be announced when received.”
A plan map and sections 425E, 475E, 525E, 575E, show the dimensions of the copper mineralization in the GEZ. The maps and sections along with drill locations and results can be viewed on our website at: www.vvcexpl.com.
Exploration Summary – Samalayuca - 2018 Phase III Drilling Program
The Company’s Samalayuca Phase III drilling program, planned for 3000 meters, began in May 2018 and is expected to be completed in September 2018. The drilling is intended to further evaluate the potential of the GEZ and GEEZ areas, and to evaluate mineralized zones in previously mined areas at La Concha and an area which includes the Zorra, Suerte, Juliana and Trinadad artisanal pits, none of which have been drilled by VVC.
The Company’s goal is to define the thickness and grade of the mineralized zones and their structural / lithologic settings using information gained from structural mapping and drilling. The drilling shows the potential of the property to host significant stratiform copper mineralization, which has been traced for over 5 km based on the shallow artisanal mines and VVC’s drilling of the 32 DDH completed to date.
The Samalayuca property covers copper mineralisation in the Samalayuca Sierra, characterised as Stratiform Copper Deposit type, as recognized by qualified persons, Michel Gauthier and Jocelyn Pelletier (2012), and Jacques Marchand and Michel Boily (2013). Fine disseminated chalcopyrite-bornite and associated oxide copper minerals, common to these deposits, are noted in a wide chloritized zone along the Sierra with mineralized zones from 3 to 36 m wide, true thickness, as defined in the old surface pits. The stratigraphy strikes NW and dips gently, approximately 25 degrees to the NE, although it is variable. Vertical faults can generate supergene copper enrichment when they cut the mineralised strata. The old mining works by the artisanal miners (gambusinos) targeted the higher grade, surface, copper zones, exploiting them by shallow (< 20 m deep) open pits and hand cobbing the ore for direct shipping to the smelter.
Analysis and QA/QC
A total of 1189 core samples were sent to the ALS Chemex laboratory in Chihuahua city, MX for analysis by their ICP61 technique. Mineralisation is mainly oxidized copper minerals such as malachite, azurite, chrysocolla, brochantite, and others with some disseminated copper sulphides, such as chalcopyrite, bornite, and chalcocite.
ALS Chemex analytical services are accredited by SANAS and are carried out with a quality assurance protocol in line with ISO 17025:2005. Samples are stored at the Corporation’s field camps, then put into sealed bags until delivered by company personnel to the laboratory where the samples are prepared and analyzed. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70% passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of up to 1,000 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh) screen, and a 50-gram split is analyzed. Blanks, duplicates and certified reference material (standards) are inserted to monitor laboratory performance.
This news release has been reviewed for accuracy and compliance under National Instrument 43-101 by Peter M. Dimmell, BSc., P.Geo. (NL, ON), a VVC Director and Qualified Person as defined by NI 43−101, Standards of Disclosure for Mineral Projects. He has approved the scientific and technical disclosure in the news release.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company focused on the exploration and development of copper and gold deposits in Northern Mexico, specifically the Samalayuca copper property in Chihuahua State. VVC has other projects in Mexico and Canada, including gold and silver prospects, Cumeral and La Tuna, in Sonora and Sinaloa States, Mexico and a grassroots gold/VMS prospect in the Timmins area of northern Ontario.
Visit our website at: http://vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
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.
2369 Kingston Road, Scarborough, ON – Tel: 416-619-5304
Danderyd 17TH August 2018
Today, Copperstone Resources AB (“Copperstone”) to the Swedish Government has filed follow-up information regarding an objection to award exploitation concession Eva k no. 1. In Copperstone’s view, the Mining Inspector’s decision to award the exploitation concession is expected to be the most likely and final outcome.
10 November 2017, the Mining Inspector awarded Copperstone an exploitation concession, Eva k no. 1 (34ha) in Arvidsjaur municipality, Sweden. The decision was objected in due time and in May 2018, Copperstone received a request for supplementary information from the Swedish Government. Copperstone has since conducted meetings and discussions with the respective parties.
In our view, the meetings and discussions (primarily relating to roads, minerals, water and dust) have been productive, informative and encouraging, touching upon already at this stage also indirectly affected interests of a future mine site in the Copperstone area. As a result, and in line with the long term vision, Copperstone will introduce and include also areas such as Högheden, Stöverberget (and others) to information meetings currently sporadically conducted with inhabitants in e g Södra Sandträsk, Glommersträsk.
In Copperstone’s view, the Mining Inspector’s decision to award the Eva exploitation concession is expected to be the most likely and final outcome.
This information is information that Copperstone Resources AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the above contact person’s agency, at 08:30 CEST on 17 August 2018.
VANCOUVER, British Columbia, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Fortress Blockchain Corp. (formerly Focused Capital II Corp.)(the “Company”) is pleased to announce the closing of its Qualifying Transaction, as defined under the policies of the TSX Venture Exchange (“TSXV”) pursuant to the business combination agreement between the Company and Fortress Blockchain Capital Corp. (“Fortress”) dated March 21, 2018, as amended (the “Transaction”).
The Transaction involved the acquisition of all of the issued and outstanding shares of Fortress by way of a three-cornered amalgamation. As part of the Transaction, Fortress amalgamated with 1171054 B.C. Ltd. to form “Fortress Blockchain Capital Holdings Corp.”, a wholly-owned subsidiary of the Company.
Continuation, Consolidation and Name Change
As a result of the Transaction, the Company also (a) completed the continuation of its corporate existence from the province of Ontario to the province of British Columbia; (b) consolidated its outstanding shares on the basis of 1 post-consolidation share for every 3.25077 pre-consolidation shares; and (c) changed its name to “Fortress Blockchain Corp.”
In connection with the Transaction, the Company issued (on a post-consolidation basis):
Following completion of the Transaction and consolidation, the Company has issued and outstanding an aggregate of 71,177,984 post-consolidation common shares.
It is anticipated that the common shares of the Company will begin trading on or about August 21, 2018 on the TSXV under the trading symbol “FORT”.
Changes in Board and Management
Upon completion of the Transaction, Robert Leckie, Mark Goodman and Carmelo Marrelli resigned their positions as directors and officers of the Company.
Aydin Kilic, Roy Sebag (Chairman), Joshua Crumb, Kent Wakeford and David Jaques have been appointed as directors of the Company.
Aydin Kilic has also been appointed the President and CEO of the Company; David Pais has been appointed the CFO and Corporate Secretary and Michael Ages has been appointed Chief Technical Officer.
Grant of Options
A total of 233,000 stock options have been granted to certain advisory board members and consultants of the Company pursuant to the Company’s stock option plan. The options are exercisable for a period of ten years at a price of $0.60 per share.
About Fortress Blockchain Corp.
Fortress Blockchain Corp. is a technology-oriented blockchain mining company committed to operating in low cost North American green-energy regions. Fortress’s resources are currently dedicated to achieving peak operational efficiency in industrial scale Bitcoin mining, to ultimately deliver an industry leading competitive advantage in performance. Fortress has strategically acquired a state-of-the-art mining facility in Washington state which has been in continuous operation since 2014, which serves as an R&D facility to optimize and build out the next generation of highly scalable blockchain mining infrastructure.
For further information, please contact:
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 press release.
Forward Looking Statements:
The information in this press release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements, including statements with respect to the anticipated date of listing of the Company’s shares on the TSXV. These statements are based upon assumptions that are subject to significant risks and uncertainties, including assumptions that all conditions to the listing of the Company’s shares on the TSXV will be satisfied and all requisite approvals will be received in a timely manner. Although the Company considers these assumptions to be reasonable based on currently available information, the same may prove to be incorrect, and the forward looking statements in this press release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward looking statements. Such risk factors may include, among others, the risk that required approvals and the satisfaction of material conditions to listing are not satisfied or waived in a timely manner or at all, risks related to the digital currency market such as a decline in digital currency prices, risks relating to electricity and other operating costs in the jurisdictions in which Fortress operates and Fortress's ability to successfully mine digital currency. Although the Company believes that the expectations reflected in forward looking statements are reasonable, no assurance can be given that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
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TORONTO, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Mega Uranium Ltd. (MGA: TSX) (“Mega”) announces today that it is proposing to complete a non-brokered private placement to sell up to 6,818,182 units (the " Units") at a price of $0.11 per Unit, for aggregate gross proceeds of up to $750,000 (the “Financing”).
Each Unit will consist of one common share and one common share purchase warrant of Mega (a “Warrant"). Each Warrant will entitle the holder to purchase one common share of Mega at a price of $0.15, for a period of 24 months following the closing date. The securities issued under the Financing will be subject to a four month hold period in accordance with applicable Canadian securities laws.
Insiders of Mega may subscribe for up to $400,000 worth of Units. Agents who arrange for sales of Units to purchasers may receive from Mega a cash finder’s fee equal to 6% of gross proceeds raised from the purchasers and units (having the same terms as the Units) equal to 6% of the Units sold to those purchasers. The cash fee may also be settled in units.
Completion of the Financing is subject to certain conditions, including the approval of the Toronto Stock Exchange. Subject to the satisfaction of the conditions, the Financing is anticipated to close in September 2018.
The proceeds from the sale of the Units will be used for general working capital.
ABOUT MEGA URANIUM LTD.
For further information please contact:
Mega Uranium Ltd.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking information based on current expectations in connection with the Financing, including the use of proceeds and events which are proposed to occur on closing. Forward-looking information is often, but not always, identified by the use of the words “contemplate”, “estimate”, “expect” and “anticipate” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur and any similar expressions or negative variations thereof.
In providing forward-looking information in this press release, we have made numerous assumptions regarding the Financing, which we believe to be reasonable, including assumptions relating to: (i) the satisfaction of all conditions to the completion of the Financing; (ii) the expected actions of third parties; and (iii) the outcome of the Financing, including the time to completion and expected use of proceeds. Forward-looking information entails various risks and uncertainties however that could cause actual results to differ materially from those reflected in the forward-looking information. Specific risks that could cause actual results to differ materially from those anticipated or disclosed in this press release include, but are not limited to: (i) failure to satisfy the conditions to complete the Financing, including failure to receive required approvals; (ii) the delay of completion or failure to complete the Financing for any other reason; (iv) the amount of costs, fees and other expenses incurred in connection with the Financing; and (vi) the risk that the anticipated effects of the Financing, if completed, may not result in the outcomes expected by us. In addition, general risks relating to capital markets, economic conditions, regulatory changes, as well as the operations of our business may also cause actual results to differ materially from those anticipated or disclosed in this press release. Forward-looking information are not guarantees of future performance, and management’s assumptions upon which such forward-looking information are based may prove to be incorrect.
Accordingly, there can be no assurance that actual events or results will be consistent with the forward-looking information disclosed herein. In light of the significant uncertainties inherent in forward-looking information, any such forward-looking information should not be regarded as representations by us that our objectives or plans relating to the rights offering or standby commitment or otherwise will be achieved. Investors are cautioned not to place undue reliance on any forward-looking information contained herein and that such forward-looking information are provided solely for the purpose of providing information about our current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. In addition, forward-looking information relates to the date on which they are made.
We disclaim any intention or obligation to update or revise any forward-looking information contained in this press release, whether as a result of new information, future events or otherwise, except to the extent required by law.
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Abacus Mining & Exploration ( TSX:AME.V ) is an exploration and mine development company with a 43-101 compliant positive preliminary economic assessment report (June 22, 2009) for its Ajax copper-gold project located 10 km southwest of Kamloops, British Columbia. Sensitivity analyses therein indicate a NPV of $1.46 billion discounted 8% over a 23 year mine life, with an IRR of 35.4%, cash costs of $0.90 per pound copper, and payback of 2.0 years using metal prices approximating US$3.00 per pound copper and US$1,000 per ounce gold. The Ajax extension remains open along strike and at depth. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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Abcourt Mines ( TSX:ABI.V ; OTCPK:ABMBF ) is an exploration and development company with strategically located properties in northwestern Quebec, Canada. The Elder Mine with 43-101 gold resources, the Abcourt-Barvue Project with 43-101 silver-zinc ore reserves and resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Elder and Abcourt-Barvue projects back into production with Elder as the first priority. At the same time the company is working on other projects (Aldermac, Jonpol and Vendome) to increase its mineral resources inventory. A 43-101 resource calculation was completed in July, 2009, for the Elder Mine. A positive 43-101 feasibility study was completed by GENIVAR in 2007 on the Abcourt-Barvue Project. In addition, mill equipment was purchased.
Aberdeen International ( OTCPK:AABVF ) is a publicly-traded global resource investment and merchant banking company focused on small cap companies in the Resource sector. We have a highly Experienced Management Team with a Global network to generate deal flow. Our Team has raised and financed over $1 Billion in the last five years in the Mining and Resource sector
ABM Resources Ltd ( ASX:ABU.AX ) explores for various mineral properties, principally gold, uranium, zinc, lead, and copper in Australia, Mozambique, and Zambia. Its principal properties include Mimosa gold property in Mozambique; Broads Dam, Erayinia, Gascoyne, and Harbutt Range properties in Western Australia; and Myunga and Kandole Hill copper and gold properties in Zambia.
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