Mining Intelligence Articles & Market Analysis - Page 138
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Argyle Announces Renewal with Euro Digital Media
Argyle Resources extends a marketing deal with Euro Digital Media for one month, paying $500K, to promote its mineral exploration projects in North America.
Vizsla Royalties Announces Completion of Payment of Acquisition and Amendment to Compensation Plan
Vizsla Royalties completes a royalty acquisition in Mexico and amends its equity plan, doubling potential issuances, and grants stock options and RSUs to align staff with growth.
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ONGold Announces Filing of NI 43-101 Technical Report for the Monument Bay Gold Project and Provides Corporate Update
ONGold filed a NI 43-101 technical report on Monument Bay Gold Project, detailing historical mineral resources, extensive drilling, and exploration potential in Manitoba.
District Files NI 43-101 Technical Report for the Viken Deposit Mineral Resource Estimate in Sweden
District Metals filed a NI 43-101 report updating mineral resources at its Viken Project in Sweden, highlighting indicated and inferred resources for various minerals.
Kenorland Closes Atlantic Project Acquisition and Receives Notice of Exercise of Top-Up Right from Sumitomo and Centerra
Kenorland Minerals acquired 31,052 hectares of mineral claims in New Brunswick's Atlantic Project, enhancing its exploration portfolio for gold, polymetallic deposits, and other minerals.
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Wedgemount Announces Huggy Operations Update
Wedgemount Resources Corp., a junior oil and gas company, has announced details of its enhancement and remediation program for its recently acquired oil and gas assets, known as the "Huggy Asset," in west central Texas. The program aims to optimize well production through proprietary chemical treatments, well workovers, and surface facility optimization. The company is using a non-toxic treatment provided by Valkyrie Specialty Corp. to boost reservoir volume stimulation. Over the next 12 months, about half of the 119 wells at Huggy will undergo these treatments.
Standard Uranium Receives High-Grade Uranium Assays from 2024 Sun Dog Prospecting Program up to 13.0% U3O8
Standard Uranium Ltd. has reported initial assay results from its 2024 exploration program at the Sun Dog Uranium Project in northwestern Saskatchewan. Detailed mapping and prospecting were completed ahead of the summer drill program, with samples showing uranium up to 13.0% U3O8. The project is under an earn-in agreement with Aero Energy Limited, which has committed to Year 2 of a three-year option agreement, promising a minimum of $2.0M in Year 2 exploration expenditures. New zones of radioactivity and uranium mineralization have been discovered during the recent prospecting program.
Aero Energy Receives High-Grade Uranium Assays from Sun Dog Prospecting Program up to 13.0% U3O8
Aero Energy Limited has reported positive surface assay results from its 2024 exploration program at the Sun Dog Uranium Project in Saskatchewan. The summer drill program has identified new uranium mineralization at the surface, with uranium assays ranging from 0.14% to 0.32% U3O8. New zones of strong radioactivity have also been discovered. More than 4km of untested VTEM conductors were found, with assays returning up to 0.25% U3O8. The company has completed 1,593 meters across eight drill holes, intersecting anomalous radioactivity in seven of them. The results represent a small fraction of potential targets, indicating significant unrealized potential. The company plans additional work to
District Provides Update on the Uranium Moratorium in Sweden
District Metals Corp. highlighted the importance of the recent Swedish Parliament meeting records for its 100% owned Viken Energy Metals Deposit in Sweden. The company anticipates the Swedish Government's intention to lift the uranium moratorium, which could reinstate uranium mining and exploration in the country. In the recent parliament meetings, the Minister of the Environment reiterated Sweden's commitment to nuclear power as a low-emission technology and expressed intentions to change the current legislation that treats uranium as waste.
Canadian Manganese Reports Third Quarter 2024 Financial Results
Canadian Manganese Company Inc. reported a loss of $860,926 in its third quarter financial results ending September 30, 2024, focusing on advancing the Woodstock manganese project in New Brunswick. This loss included expenses related to interest and corporate development. In comparison, the company recorded a loss of $374,506 in the same period last year. As of September 2024, the company held exploration and evaluation assets valued at $17,545,804.
Silicon Metals Corp. Issues Longworth and Silica Ridge Option Shares and Acquires Silica Ridge Property
Silicon Metals Corp. has paid Cronin Exploration Inc. $15,000 and issued 1.8 million common shares to acquire a 100% right, title, and interest in the Silica Ridge Silica Project. Additionally, the company issued 3.3 million shares to Cronin Exploration Inc. to secure an undivided 100% right, title, and interest in the Longworth Silica Property. To finalize the deal, Silicon Metals Corp. must pay an additional $25,000 within 30 business days. The company also granted Cronin Exploration a 2.0% net smelter returns royalty on both properties, with an option to purchase 50% of each for $1,000,000 within
Anquiro Ventures and Black Pine Announce Receipt of TSXV Conditional Approval and Filing of Information Circular
Anquiro Ventures Ltd. (AQR) has announced that the TSX Venture Exchange has conditionally approved its reverse-takeover transaction, which follows a merger agreement with Black Pine Resources Corp. and 1504671 B.C. Ltd. The company has filed an information circular regarding this transaction and has scheduled a shareholders meeting on December 20, 2024, to obtain approval for related resolutions and the adoption of an equity compensation plan. The transaction is expected to close on or around December 27, 2024. Trading in AQR's common shares is currently suspended and will resume once all required documentation has been filed.
Aero Energy Announces Closing of Non-Brokered Private Placement
Aero Energy Limited has successfully closed its previously announced non-brokered private placement, issuing a total of 24,004,070 units and raising gross proceeds of $2,034,218.85. This includes the issuance of non-flow-through units, flow-through units, and charity flow-through units at prices of $0.07, $0.08, and $0.11 per unit respectively. Each unit consists of one share and one-half of one share purchase warrant. All issued securities are subject to a four-month hold period. As part of the closing, $99,779 in cash was paid and 887,360 finder's warrants were issued to eligible finders.
Centurion Minerals Ltd. Announces Late Filing of Annual Financial Statements and MD&A
Centurion Minerals Ltd. has announced that the company's audited annual financial statements for the financial year ending July 31, 2024, will not be finalized by the due date of November 28, 2024, due to administrative delays in the audit. The company has applied for a management cease trade order (MCTO) and expects to file the required documents by January 27, 2025. During the MCTO, the public will still be able to trade the company's shares, but the CEO and CFO will not. The company will issue bi-weekly default status reports until the filings are completed.
IberAmerican Lithium Announces Third Quarter 2024 Financial Results
IberAmerican Lithium Corp. has announced its unaudited condensed interim consolidated financial statements for the three and nine month periods ended September 30, 2024. The company reported a net loss for the quarter of $0.9 million and a working capital deficit of $1.5 million. As of September 30, 2024, the company had cash and cash equivalents of approximately $0.01 million. IberAmerican plans to continue work towards receiving final permit approvals for lithium projects in northwestern Spain and explore other opportunities for shareholder value creation.
Denarius Metals Announces Third Quarter and First Nine Months 2024 Results
Denarius Metals Corp. has released its unaudited interim condensed consolidated financial statements and related analysis for the three and nine months ending September 30, 2024. The company, which has two mines in Colombia and Spain, spent approximately $9.5 million on exploration, development, and capital expenditures in the first nine months of 2024, including $7.4 million on its Zancudo Project. It also paid $8.1 million towards its acquisition of a 50% interest in Rio Narcea Recursos, and an additional $0.8 million to prepare for operations restart next year. The company raised $17.2 million through the sale of a net smelter in the first nine months of 2024 to
Indigo Obtains Approval for Loans
Indigo Exploration Inc. has received approval from the TSX Venture Exchange for loans totalling $170,000, with an interest rate of 10% per annum and a one-year term. The funds will be used for exploration work on the company's Hot Property uranium project in Wyoming and for general capital purposes. The company has issued 680,000 bonus shares to the lenders. Two of the lenders are company directors who have provided $10,000 each in loans, which are considered "related party transactions" and are exempt from certain requirements due to their value not exceeding 25% of the company's market capitalization.
Talon Metals Reports Results for the Quarter Ended September 30, 2024
Talon Metals Corp. reported a net loss of $0.6 million for Q3 2024, primarily due to administrative costs and stock option compensation. This is slightly higher than the $0.5 million loss from Q3 2023. The net loss for the nine-month period ending in September 2024 was $1.6 million, compared to $1.7 million loss for the same period in 2023. The company's capitalized exploration and development costs for the Tamarack Nickel-Copper-Cobalt Project amounted to a credit of $3.7 million for Q3 2024, largely due to a royalty sale. In contrast, the costs for the same project were $11.4 million in Q
Ucore Closes Private Placement Financing
Ucore Rare Metals Inc., has successfully closed its non-brokered private placement offering of 4,803,329 units at $0.50 per unit, resulting in gross proceeds of $2,401,665. Each unit consists of one common share and half a common share purchase warrant. The proceeds are expected to be used for finalizing agreements, progressing engineering plans for the Company's Strategic Metals Complex, debt servicing, and general corporate working capital. John Wilson, an arms-length finder, will be issued 21,000 Common Shares. All shares and warrants are subject to a four-month and one-day hold period.
Auric Minerals Reaches Definitive Agreement to Acquire Central Uranium Resources
Auric Minerals Corp. has announced a share exchange agreement with Central Uranium Resources Corp. (CURC), through which it plans to acquire all outstanding shares of CURC. CURC holds acquisition rights to the Route 500 Property in Newfoundland and Labrador, an area known for prospective uranium mineralization. The property, which is vastly underexplored, has seen renewed interest due to successful uranium exploration in the past and the potential for further discoveries.
Spanish Mountain Gold Provides Update on Financing
Spanish Mountain Gold Ltd. has provided an update on its brokered private placement for a gross proceeds of up to C$6,500,000. The terms of the charity flow-through units were amended and will consist of one flow-through share and one common share purchase warrant. Each warrant can purchase one additional common share of the company at a price of $0.18 per share for two years from issuance. The Brokered Offering is set to close around November 15, 2024, depending on the receipt of necessary approvals. The securities mentioned will not be registered under the U.S. Securities Act and may not be offered or sold within the U.S.
Exploits Closes Non-Brokered Charity Flow Through Financing with Strategic Investor and Flow Through Share Private Placement
Exploits Discovery Corp. has closed a non-brokered private placement, raising $346,154 by issuing flow-through common shares at $0.09 each. In addition, the company has closed another private placement, raising $240,000 by selling 3,000,000 flow-through common shares at $0.08 each. The proceeds will be used to fund eligible "Canadian exploration expenses" related to the company's projects in Newfoundland and Labrador, Canada, before December 31, 2025. The issued securities will be subject to a four-month-and-one-day hold period under Canadian securities laws and are not available for sale in the United States.
Northstar Gold Corp. Closes First Tranche of Private Placement; Miller Property Zone 2 Extension Drilling to Commence Late November
Northstar Gold Corp. has successfully closed the first tranche of its non-brokered private placement, raising $818,750 through the sale of 14.9 million Hard Dollar Units and 4.95 million Critical Minerals Eligible Flow Through Units. The company plans to close a second tranche soon. Each unit includes a common share of the company and a share purchase warrant. The company also paid $20,255 in finder fees and issued 560,000 finder warrants. The sale is viewed as an endorsement of the company's exploration and development initiatives and growth potential. Northstar is currently shortlisting bids for drilling up to 1,500 meters targeting copper mineralization.
West High Yield (W.H.Y.) Resources Ltd. Announces Final Closings of Oversubscribed Private Placement and Shares-for-Debt Transactions
West High Yield Resources Ltd. has closed the final tranche of its private placement offering, issuing 3,660,935 units for gross proceeds of CAD$732,187. The company has also completed its shares-for-debt transactions to settle CAD$320,000 in outstanding debt. Each unit issued includes one common share and one share purchase warrant. A trading hold period applies to all securities for four months plus one day from issuance. As part of the closing, the company issued 10,000 non-transferable share purchase warrants to a broker and paid them a $2,000 commission.
Nio Strategic Metals Expands Its Fafnir Project
Nio Strategic Metals Inc., a mining exploration company, has acquired an additional 1,274 hectares over 22 claims next to its Fafnir Project. The claim block is near Rush Rare Earth's Boxy project, known for Niobium assays as high as 26.9%. The Fafnir Project in Quebec now covers around 6,230 hectares and is home to large high-grade niobium and Uranium deposits. Nio's CEO, Hubert Marleau, expressed excitement about the acquisitions due to their high potential for niobium mineralization and plans to perform explorations next summer.
Cleghorn Minerals Reports on Recent Channel Sampling Results from Historical Trenches & Pits on The Meech Lake - Matachewan Prospect
Cleghorn Minerals Ltd. has announced the results of Nickel-Copper-PGE and Gold-Silver-Zinc surface channel sampling on its Meech Lake - Matachewan Prospect in northeastern Ontario. The Phase II exploration program completed in 2023 included detailed mapping and channel sampling over various showings and included eight excavations. The objective was to define and characterize the surface mineralization identified in the 2018 drill program. Results include 4.91% copper, 1.35% nickel, 1.53 ppm platinum, 4.49 ppm palladium over 0.5 metres at the Kell's Showing, and 2.08 ppm gold, 5.2 ppm silver & 1.08%
Homerun Resources Inc. Reports Discovery of HPQ Silica Sand in Multiple Locations on 100% Owned Tenements in Belmonte, Brazil
Homerun Resources Inc. has conducted an exploratory drilling program on its 100% owned silica sand tenements in the Belmonte Silica Sand District. The company identified HPQ silica sand exploration target volumes across multiple areas within the 7930-hectare site. Despite challenges faced with heavy rain during the drilling, average results showed 99.23% Si02, with the best result being 99.80% Si02. An exploration target of over 200 million tonnes is projected within the concessions.
Golden Horse Minerals Australian IPO Offer Closes Early and Oversubscribed
Golden Horse Minerals Limited has closed its Australian initial public offering (IPO) early after raising the maximum target of A$18 million. The funds will be used to explore the company's Southern Cross Project, located in a prolific gold-producing region in Australia. The oversubscribed IPO is a major milestone for the company, indicating strong investor support. The company's CDIs are expected to start trading on the Australian Securities Exchange in early December 2024.
Ximen Mining Corp Completes 2024 Drill Program at Its 100% Owned Brett Epithermal Gold Property - Vernon BC
Ximen Mining Corp. has completed its drill program at the Brett epithermal gold project in southern British Columbia, with the eighth hole drilled to test the extent of the West Zone alteration zone. The drilling intersected volcanic rocks, including basalt and ash, and an oxidized leached zone of argillic alteration was found from 4.5 meters to 8.3 meters depth. Multiple zones of intense clay-silica alteration with clay-gouge faults and silica-pyrite mineralization were also intersected. The findings suggest a highly altered volcanic breccia.
Maple Gold Announces Closing of $5 Million Brokered Private Placement
Maple Gold Mines Ltd. has successfully closed its previously announced brokered private placement offering, issuing 32,695,384 non-flow-through units at $0.065 per unit and 35,935,000 flow-through common shares at $0.08 per share. This raised a total of $5 million in gross proceeds. The offering was led by Beacon Securities Limited, alongside Agentis Capital Markets Limited Partnership and Paradigm Capital Inc. Each non-flow-through unit includes one common share and one-half of one common share purchase warrant, with each warrant entitling the holder to acquire one non-flow-through common share at $0.10 until November 14, 2027.
Nova Pacific Metals Highlights the History and Revitalization Plans for the Lara VMS Deposit
Nova Pacific Metals Corp. has detailed the history and future plans for its Lara Volcanogenic Massive Sulphide (VMS) deposit, located on Vancouver Island, British Columbia. The deposit was discovered in 1984 and explored extensively in the 80s, but activity slowed due to low metal prices in the 90s. Early exploration efforts yielded promising results, including a high-grade trend in the Coronation Zone. The company plans to revitalize the deposit and continue exploration efforts.
Valkea Resources to Commence Trading on the OTCQB Under Symbol "OZBKF"
Valkea Resources Corp. has announced that its common shares will commence trading on the OTCQB® Venture Market under the ticker symbol "OZBKF" from November 14, 2024. The shares will continue to be traded on the TSX Venture Exchange under the symbol "OZ". The move is expected to enhance the company's visibility, improve liquidity, and broaden its shareholder base. This comes as Valkea begins its exploration program on the flagship Paana gold project in Finland's Central Lapland Greenstone Belt.
Military Metals Announces LOI to Acquire Past-Producing Last Chance Antimony-Gold Property, near Round Mountain, Nevada
Military Metals Corp. has announced its intent to acquire the Last Chance antimony-gold property in Nye County, Nevada from Amador Mining LLC. The property, which has a history of antimony and gold mining dating back to the 1870s, is located near the Round Mountain Gold Mine and Tonopah town. Military Metals Corp. plans to conduct detailed surface mapping and sampling, and initiate a drilling program to explore the full potential of the property.
Barksdale Receives Assays Results That Reveal High-Grade Copper-Silver, Lead-Zinc-Silver Veins
Barksdale Resources Corp. has reported initial assay results from its ongoing diamond core drilling program at its Sunnyside project in Arizona. The results indicate high grade copper-silver and lead-zinc-silver veins and broad zones of hypogene chalcocite mineralization. Drill hole SUN24-002 was designed to target deep lead-zinc-silver mineralization and surface potential for copper-silver mineralization. Assay results returned values up to 4.33% copper, 2.45% zinc and 99.7 g/t silver. The company believes the project is a target rich environment that needs further exploration.
RETRANSMISSION: Atomic Minerals Corp. Clarifies the Proposed Drilling Schedule for The Bleasdell Lake Uranium Project
Atomic Minerals Corp. is finalizing permits for the Bleasdell Lake Project in Vancouver, with plans to start drilling in December. The project, located 95 kilometers southwest of Lynn Lake, Manitoba, will focus on three newly identified uranium target zones in addition to the historically drilled Horn and Jackpine zones. The company is working to obtain a multi-year permit for ground-based geophysics and up to 4,000 meters of diamond drilling. However, the company acknowledges that more work needs to be done to classify the historical estimate of 620,700 pounds of triuranium octoxide as a current mineral resource.
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