Mining News Releases & Company Updates - Page 112
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Honey Badger Silver Announces Closing of First Tranche of Non-Brokered Private Placement Raising Gross Proceeds of Approximately $2.013 Million
Honey Badger Silver raised $2.013M via private placements to fund exploration in Canada’s northern territories.
Dios Sells K2 to Azimut
Dios explores gold at its Heberto-Gold project; sells K2 property to Azimut for cash and shares, retaining a royalty. Focus on discovering a world-class gold deposit.
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Excellon Announces Appointment of Mike Hoffman to Board of Directors and Provides Corporate Update
Excellon Resources appoints mining veteran Mike Hoffman to its Board to enhance governance and support growth and production strategies.
Arya Resources Ltd. Engages CHF Capital Markets Inc.
Arya Resources partners with CHF Capital Markets for 12 months to boost investor relations, marketing, and capital markets advisory, with an option for share purchase.
Nevada Organic Phosphate Announces Stock Option Grant and Compensation Shares Issuance
Nevada Organic Phosphate granted stock options and issued shares as bonuses, including a related party transaction, to key personnel.
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Platinum Group Metals Ltd. Reports 2024 Annual Results
Platinum Group Metals Ltd. has reported its financial results for the fiscal year that ended in August 2024 and provided an update on the progress of its Waterberg Project, a fully mechanized mine focused on platinum, palladium, rhodium, and gold in South Africa. The project, which also includes copper and nickel production, aims to be one of the largest and most cost-effective underground platinum group metals mines globally. Besides, the company is working on a lithium battery technology initiative with Anglo American Platinum Limited and Florida International University. The company has filed its financial statements with Canadian securities regulators on SEDAR+ and with the U.S. Securities and Exchange Commission on EDGAR.
Rise Gold Announces $4.3 Million Sale of Property
Rise Gold Corp. has arranged to sell 66 acres of industrial land next to its Idaho-Maryland Mine Property for $4.3 million. The land, which used to house a commercial lumber mill, is split into two sale agreements. The first covers 16 acres for $1.8 million, half of which has been paid, with the remainder due in 2026. The second concerns 50 acres for $2.5 million, set to close in May 2025. The buyer will pay monthly rent until closing, which will be deducted from the purchase price, and 5% annual interest on the remaining balance. Rise Gold Corp also has the option to buy back the land for its sale price plus any additional costs
Kutcho Copper Corporate Update
Stephen Quin has resigned from his position as a director of Kutcho Copper Corp., but will continue to serve as an advisor to the company's board. Quin had been a director of Kutcho Copper since its foundation in 2017 and his contributions had been key in advancing the company's flagship Kutcho copper-zinc project. Despite his resignation, Quin remains optimistic about the project's potential to meet the rising demand for copper due to electrification and decarbonization.
Spark Energy Exploration Team Enters Lithium Valley and Begins Field Program
Spark Energy Minerals Inc., an exploration company focused on discovering battery metals in Brazil's Lithium Valley, has begun the maiden exploration program at its flagship Arapaima Lithium Project. The program is primarily focused on following up on spodumene occurrences identified in government heavy mineral pan concentrate samples across the 64,359-hectare area. Spark has mobilized three field geology stream sampling teams, two of which are dedicated to detailed follow-ups around key sample points where visible spodumene concentrations were previously reported. The third team is initiating a systematic reconnaissance across the entire tenement to quickly validate historical data and identify new targets.
Quebec Nickel Announces Return of Claims
Québec Nickel Corp. has announced that it will be returning 237 contiguous mining claims to Val-D'Or Mining Corporation, as they are not within the core area for future exploration activities. The claims were part of the Ducros Property, located in Quebec, Canada. Additionally, the company has granted 525,000 incentive stock options to an officer, certain directors, and consultants, allowing them to purchase up to 525,000 common shares in Québec Nickel Corp at $0.225 per share with no vesting period, expiring on November 27, 2026.
Lavras Gold Corp. Announces Filing of Final Base Shelf Prospectus
Lavras Gold Corp. has received approval for its final short form base shelf prospectus filed with all Canadian securities commissions, excluding Quebec. This allows the company to offer up to C$50 million of common shares in one or more transactions over the next 25 months. The specific terms, including the number of shares and their prices, will be determined based on market conditions at the time of sale. This press release does not constitute an offer to sell or a solicitation of an offer to buy in any jurisdiction where such actions would be unlawful.
Hertz Energy Announces Share Consolidation
Hertz Energy Inc. has announced that it will consolidate its common shares on a four for one basis, effective December 12, 2024. The consolidation still requires acceptance from the Canadian Securities Exchange. The company's name and trading symbol will remain the same post-consolidation, but the new CUSIP and ISIN numbers will be 42804X206 and CA42804X2068 respectively. Post-consolidation, the total issued and outstanding shares will be approximately 16,511,679. No fractional common shares will be issued upon the consolidation, with shares rounded down or up depending on whether the fractional share is less than or equal to half a share. The consolidation will also lead to an adjustment in the exercise or conversion
StrikePoint Closes Upsized Second and Final Tranche of Private Placement
StrikePoint Gold Inc. has closed the second and final tranche of its oversubscribed non-brokered private placement, issuing 6,942,500 units at a price of CAD $0.20 per unit. This brought the total financing to 15,205,500 units for aggregate gross proceeds of $3,041,100. The company also completed a consolidation of its common shares, with each unit consisting of one common share and one purchase warrant. The warrants can be exercised at a price of $0.30 within two years. Finder's fees of $114,317 were paid in the financing process.
Roberto Resources Inc. Commences Exploration Program
Roberto Resources Inc. has begun a geological mapping, rock chip, and soil sampling program at its Janampalla Property in Peru. In February 2024, the company found copper mineralized veins and mantos at the site, along with localized gold-silver-lead mineralization. The current exploration will focus on various veins and historical mines in the southern part of Janampalla, with the aim to define copper mineralization within the area. A petrographic study will also be conducted to improve understanding of the mineralogy and deposit type. The exploration program is expected to conclude in late 2024, with assay results due by early 2025. Roberto Resources is focused on exploring its Janampalla Property, which has shown high-grade
Sitka Gold Signs 30,000 Metre Diamond Drilling Contract for 2025 at Its RC Gold Project, Yukon
Sitka Gold Corp. has signed an agreement with Kluane Drilling Corp. to execute up to 30,000 metres of diamond drilling in 2025 at its RC Gold Project in the Tombstone Gold Belt in the Yukon. This will be the largest drilling campaign at the RC Gold Project. The operation will primarily concentrate on follow-up drilling at the Rhosgobel and Pukelman intrusion targets, as well as the Blackjack gold deposit and other high-priority targets. Kluane Drilling, a company with over 30 years of experience, will be providing the drilling services.
Impact Silver Announces Q3 2024 Results with Revenue up 81% and Positive Operating Income
IMPACT Silver Corp. reported its financial and operating results for Q3 2024, showing an 81% increase in revenue to $8.6 million, mainly due to higher silver and zinc prices and increased production from the Plomosas zinc mine. Operating earnings for the quarter were $1.03 million, compared to $0.01 million in Q3 2023. Despite a net loss of $1.2 million, this was an improvement from a $1.5 million loss in Q3 2023. The company expects a return to positive cash flow once the Plomosas Mine reaches full production. Other highlights include a rise in revenue from the Zacualpan asset to $6.1 million and consistent operating costs
Ximen Mining Corp One Step Closer to Start of Development at Kenville Gold Mine - Nelson BC
Ximen Mining Corp. has provided an update on its Kenville Gold Mine project near Nelson in southeastern BC, sharing positive developments. An Archaeological Impact Assessment (AIA) was completed with no significant findings, and geological logging of drill core from recently completed groundwater monitoring wells has offered additional valuable insights. These achievements bring the company closer to meeting final permit conditions and starting underground development. The next step is finalizing the engineering design for a culvert crossing at Fisherman Road, which needs BC Ministry of Transportation and Infrastructure's approval before construction can proceed.
Forge Resources Corp Announces Design Plans for Mine Portal Construction at La Estrella Coal Project, Colombia
Forge Resources Corp. has announced the design plans for a mine portal at the La Estrella Coal Project in Santander, Colombia. The portal is a critical development milestone, providing essential infrastructure for future underground mining. The project holds significant coal deposits and is a key asset in Forge Resources' growth strategy in Colombia. The construction of the mine portal, which has already started, will allow safe and efficient access to deeper coal seams for further exploration and extraction. The design includes specialized soil support systems for stability and maintains high environmental and safety standards.
World Copper Arranges $1.5 Million Financing
World Copper Ltd. has announced a non-brokered private placement of up to 18,750,000 units priced at $0.08 per unit, aiming for a gross proceed of up to $1,500,000. Each unit includes one common share and a warrant that allows the holder to acquire an additional share at $0.16 within three years. The offering, subject to approval and a four-month hold period, intends to fund an expansion drill program and general working capital. It's important to note that this offering is not available for sale in the U.S. due to registration requirements.
Millennial Increases Private Placement
Millennial Potash Corp., a company based in West Vancouver, has increased its private placement from 11,250,000 units to 12,643,333 units, at a price of $0.30 per unit. This will result in proceeds of $3,793,000, up from $3,375,000, which will be used to fund further exploration and development of its Banio Potash Project and for general working capital. The Company has also retained Independent Trading Group (ITG) to provide market-making services to help maintain a fair market in the Company's shares. The private placement is awaiting approval from the TSX Venture Exchange.
Myriad Uranium Concludes Maiden Drill Campaign at Copper Mountain; Program Encountered Significant High Grade, Exceeded Expectations, Provided Verification of Historical Drilling, and Encountered Mineralisation in Deeper Zones Which Opens Exciting New Potential
Myriad Uranium Corp. has completed its maiden drilling program at Copper Mountain, with positive results. The drilling exceeded expectations, with numerous intervals encountered containing significant quantities of uranium. Notably, uranium mineralisation was confirmed below the previous maximum depth of historical drilling, a discovery that could increase the project's potential. The company is now analyzing core samples and expects chemical assay results in the coming months.
Appia is Joining MAGBRAS to Participate in the Development of Latin America's First Permanent Magnet Production Facility
Appia Rare Earths & Uranium Corp., a Toronto-based company, has joined the SENAI MAGBRAS initiative to develop Latin America's first rare earth permanent magnet facility in Lagoa Santa, Brazil. The MAGBRAS project, part of the Rota 2030/MOVER program, aims to establish a national production of rare earth permanent magnets, making Brazil a significant player in the global market. The project plans include identifying technological challenges, developing solutions, implementing a pilot plant, and eventually setting up an industrial scale facility with industry collaboration. Appia will contribute to the initiative by providing management support and a potential source of light and heavy rare earths for the Brazilian magnets' production.
Lara Raises $3.085 Million From Accelerated Exercise of 2022 Warrants
Lara Exploration Ltd. has reported that 3,085,943 warrants to purchase common shares were exercised, resulting in gross proceeds of C$3,085,943. The funds raised will be used mainly for the development of its Planalto Copper-Gold Project in Brazil and for general corporate purposes. Following this warrant exercise, the company has 49,434,772 shares outstanding, with around C$5.6 million in treasury. The company follows a Prospect and Royalty Generator business model and holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile.
Cosa Resources Executes Agreement to Form Joint Ventures with Denison Mines on Multiple Uranium Projects
Cosa Resources Corp. is set to acquire a 70% interest in three uranium exploration projects in the Eastern Athabasca Basin from Denison Mines Corp. As part of the deal, Denison will become a 19.95% shareholder in Cosa and commits to a minimum of C$1,000,000 participation in future equity financings. The projects include the Murphy Lake North Project, the Darby Project, and the Packrat Project. Cosa's senior management team will advance these projects, offering potential benefits for both Cosa and Denison.
American Pacific Reports up to 80.6 g/t Gold, 5.2% Copper and 136 g/t Silver from the 2024 Field Program at its Madison Project
American Pacific Mining Corp. has received the final assays from 88 rock samples and 141 soil samples collected during the 2024 field season. The company also completed a radiometric survey interpretation to assist future drill targeting for a 3,000-metre, Phase II program scheduled to begin in Q1 2025. The field work results extended the mineralized footprint 2.5 kilometres southeast and 2 kilometres west, and revealed 5 additional target areas that will be included in the Phase II drill program. The use of radiometric surveys, which highlight thorium, potassium and uranium, is seen as a unique approach in exploring for porphyry systems.
Maritime Trench Sampling at Hammerdown Returns 49 gpt Gold Over 0.4 Metres Width Along a Strike Length of 45 Metres
Maritime Resources Corp. has announced the results of additional surface sampling at the Hammerdown Gold Project in Newfoundland and Labrador. The project is an advanced stage, high grade gold development project with completed permitting and access to the company's existing Pine Cove mill facility. The recent sampling program exposed high-grade gold mineralization, averaging 56 grams per tonne over 0.3m. Additionally, a trenching program has confirmed the high-grade nature of the deposit and the accuracy of the mineralized vein wireframes. The company sees this as an opportunity for low cost, high margin cash flow.
GT Resources Announces BHEM Survey at the North Rock Copper-Nickel-PGE Project, Ontario, Canada
GT Resources Inc. has announced its first exploration activities on the North Rock copper – nickel – platinum project in Northwestern Ontario, Canada. The project, part of the MetalCorp Limited acquisition in 2023, includes a 13-kilometer gabbroic contact and a zone with a historic resource estimate of 1 million tons grading 1.2% Cu. The Phase I exploration program has a budget of less than $200,000 and involves a Bore Hole Electromagnetic survey, reconnaissance mapping, and prospecting/sampling. The project promises potential for both bulk tonnage and high grade sulphide deposits.
Nova Pacific Drilling Confirms Significance of High-Grade Historical Trench Results
Nova Pacific Metals Corp. has announced initial results from a drilling program at its Lara Project on Vancouver Island, British Columbia. Six holes totalling 18.11m were drilled to confirm historic grades and collect geochemistry information for sulphide mineralization. Results from two boreholes have been obtained, with one hole returning an assay of 11.67 g/t Gold, 373 g/t Silver, 21.33% Zinc, 4.23% Lead, and 1.75% Copper. CEO J. Malcolm Bell described the findings as "exceptional" and a first step in revitalizing the Lara Project.
Spearmint Acquires the George Lake South Antimony Project in New Brunswick, Canada
Spearmint Resources Inc. has announced the acquisition of the George Lake South Antimony Project in New Brunswick, Canada. The project, spanning 1,945 acres, is prospective for antimony, a commodity whose prices have more than doubled this year. The project is near the Lake George Antimony Mine, which was once the largest primary antimony producer in North America. Antimony is used in the electronics and semiconductor industries, battery technology, and flame-retardant materials. The acquisition is seen as a significant addition to Spearmint's project portfolio.
District Provides Corporate Update
District Metals Corp., based in Vancouver, plans to list its shares on the Nasdaq First North Growth Market in Sweden by the end of 2024. The company owns the second largest exploration land package in Sweden, including the Viken Property, known for its vast deposits of various metals. Other holdings include four prospective uranium polymetallic properties and the Tomtebo Property, noted for its potential for base metals polymetallic sulphide mineralization. An exploration partnership with Boliden Mineral AB was announced in 2023, with a drill program at the jointly-owned Stollberg Property recently initiated.
Talon Metals Announces Appointment of New President
Talon Metals Corp. has announced that Mike Kicis will take over as President of the company from Sean Werger, effective January 1, 2025. Werger is stepping down to assume a senior leadership role at a Toronto-based charity but will join Talon's Board of Directors to ensure a smooth transition. Kicis has been with Talon since 2013, playing a key part in the company's major transactions and partnerships.
Platinum Group Metals Ltd. and Ajlan & Bros Company for Mining Enter Memorandum of Understanding with the Ministry of Investment of Saudi Arabia as Part of the Global Supply Chain Resilience Initiative for a Proposed PGM Smelter and Base Metal Refinery in Saudi Arabia
Platinum Group Metals Ltd., Ajlan & Bros Company for Mining, and the Ministry of Investment of Saudi Arabia (MISA) have signed a memorandum of understanding (MOU) as part of the Global Supply Chain Resilience Initiative. This MOU is for the establishment of a proposed platinum group metals smelter and base metal refinery in Saudi Arabia. MISA will provide strategic guidance and study potential financial support for the project, which aligns with Saudi Arabia's Vision 2030 initiative to expand its mining and minerals industry. The MOU builds on a cooperation agreement between Ajlan and Platinum Group from December 2023 to study the establishment of the smelter and refinery.
Great Pacific Gold Provides Corporate Update on Wild Dog, Kesar Drilling and AGM Results
Great Pacific Gold Corp. has provided updates on its Wild Dog Project, Kesar Project, and its recent Annual General Meeting. The diamond drilling program at the Kesar Project is progressing well, with around 1,000 meters drilled so far. The company plans to complete 2,500 meters and five holes by the end of the year. At the Wild Dog Project, exploration reveals high-grade gold-copper systems and potential for bulk tonnage. For 2025, the company plans infrastructure establishment, data consolidation, and diamond drilling at a 3km part of the Wild Dog structure. The company’s Annual General Meeting saw the approval of all proposed resolutions and the re-election of the five directors.
Lavras Gold Announces Filing of Amended Technical Reports
Lavras Gold Corp. has amended two technical reports on its Butiá and Cerrito Projects following a review by the Ontario Securities Commission (OSC). The amended reports, which do not change the size or scope of the resource estimates, include additional disclosure details as suggested by the OSC. Among these are the assumptions used to support the cut-off grade, constraints on mineral resources, rounding of resource estimates, and the clarification of the responsible independent qualified person. The company has also revised its website and corporate presentations, particularly regarding the use of the phrase "NI 43-101 compliant" related to estimation of mineral resources.
Doubleview Gold Corp Is Concluding the Successful Drill Season of 2024
Doubleview Gold Corp. has completed a successful drill season at its 100% owned Polymetallic Hat porphyry project in British Columbia. The objectives of the season were to confirm the Mineral Resource Estimate's block model, prove further continuity of mineralization, increase resource model integrity, and test new areas. The company drilled over 10,000 metres in 18 holes and shipped over 23 tonnes of drill core samples to an analytical laboratory. Initial assay results from three drill holes revealed significant mineralization. The drilling also confirmed mineralization in previously un-drilled areas.
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