Mining Intelligence Articles & Market Analysis - Page 145
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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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SPOD Lithium Commences Drill Program on MegaLi and Lithium Grande 4 Properties in Quebec
SPOD Lithium Corp. has obtained permits to begin its drilling program on the MegaLi and Lithium Grande 4 projects in the James Bay area of Quebec, Canada. The initial drill program will consist of at least 10 drill holes for a total of around 1,500 meters. The aim of the program is to follow up on successful soil and rock sampling from phase 2 field programs, which revealed pegmatite trends and other minerals. The company is excited about this development, as the region is known for its lithium potential. Drilling is expected to begin next week.
Valleyview Provides Update on Proposed Acquisition of Shift Rare Metals Including Financing Terms and New Board Members
Valleyview Resources Ltd. has updated the progress of its proposed acquisition of all outstanding shares of Shift Rare Metals Inc. through a three-cornered amalgamation. Shift, a privately held company in British Columbia with a U.S. subsidiary, has claims in northwestern Colorado. Valleyview and Shift, with agent SCP Resource Finance LP, will complete a private placement offering of Shift's subscription receipts at C$0.30 each to raise between C$7 million and C$15 million. Upon meeting conditions, each receipt will be exchanged for a Class D common share of Shift and half of a Class D common share purchase warrant, valid for two years. Valleyview plans to split its shares 1:1.5 before the transaction is completed.
Lake Victoria Gold Announces Completion of 10-Year Renewal and Transfer of Imwelo Mining License
Lake Victoria Gold Ltd. (LVG) has announced the 10-year renewal and authorization to transfer the Imwelo Mining License to it, through its wholly-owned subsidiary Tembo Gold Tanzania Limited by the Tanzanian Mining Commission. This forms a solid foundation for LVG's strategy for growth and development in the Lake Victoria Goldfield region. The completion of the acquisition is still subject to conditions like final approval of the TSX Venture Exchange, financing involving Taifa Mining and Civils Limited, among others. With the renewed license, LVG will proceed with its development plans for the Imwelo Project, aiming to expand its asset base and strengthen its position in Tanzania.
Inomin Announces Non-Brokered Private Placement
Inomin Mines Inc. plans to raise up to $500,000 through a non-brokered private placement of securities. The financing will involve the sale of non-flow-through units at $0.04 each and flow-through units at $0.05 each. Each unit includes one common share of the company and one purchase warrant, which allows the holder to buy an additional share for $0.10 within three years. A maximum of 10 million non-flow-through units and 2 million flow-through units will be issued. The company may accelerate the expiry date of the warrants if the shares' closing price is $0.20 or more for ten consecutive trading days. The financing will be available to existing shareholders.
Apex Expands Claim Coverage at Its Lithium Creek Project in Churchill County, Nevada
Apex Resources Inc. has staked and recorded 176 additional placer mining claims in Churchill County, Nevada, extending its Lithium Creek Project by approximately 3520 acres. This follows the release of favorable analytical results from shallow groundwater samples, indicating high lithium concentrations. The company's land position has thus increased from about 4720 acres to 8240 acres. CEO Ron Lang described the results as encouraging and claimed the expansion was crucial for targeting potential district-scale lithium brine reservoirs in the U.S.
Metal Energy Completes Highland Valley Copper Acquisition
Metal Energy Corp. has acquired a 100% interest in the Highland Valley Copper Project in British Columbia, located next to Canada's largest copper mine. The project spans 240 km² and has identified extensive mineralization in two zones. Metal Energy, as part of the Ore Group, will use its project management experience to modernize historical data and identify future exploration opportunities. The acquisition is in line with Ore Group's strategy of utilizing historical data in regions with good infrastructure and proximity to major operating mines.
Applies for Drill Permit on the "Case Lake West Cesium and Spodumene Pegmatite Project" in Larder Lake Mining division of Ontario
Sienna Resources Inc., a Vancouver-based mining company, has applied for a drilling permit in Ontario, specifically in the Case Lake area, known for its high potential for Cesium. The company is eager to start its maiden drill program and is optimistic about the project's prospects. Sienna has recently acquired several new projects, including the "Case Lake West Cesium and Spodumene Pegmatite Project" in Ontario, the "Uranium Town Project" bordering Denison Mines Corporation, the "Dragon Uranium Project" bordering Cameco Corporation, and the "Atomic Uranium Project" in Saskatchewan's Athabasca Basin. They also have the "Elko Lithium Project" in Nevada.
Spearmint Resources Announces Corporate Update
Spearmint Resources Inc. has successfully closed a non-brokered private placement of 15,625,000 units at $0.016 per unit, resulting in gross proceeds of $250,000. Each unit includes one common share and one share purchase warrant. The company paid a finders' fee of $2,576 and issued 161,000 non-transferable finders' warrants in connection with the offering. The funds will be used for the company's general working capital and to evaluate and work on existing projects. The company's president, James Nelson, expressed optimism about the future following the successful placement.
Doubleview Gold Corp Announces Closing of Final Tranche of Private Placement for Total of $1,873,100
Doubleview Gold Corp. has announced the completion of its final tranche of non-brokered Private Placement, raising gross proceeds of $39,830. This brings the total funds raised to $1,873,100, which includes $1,051,250 flow-through funds and $821,850 non-flow-through funds. In the final tranche, Doubleview will issue 104,816 non-flow-through units at $0.38 per unit. Each unit consists of one common share and one warrant, which can be used to purchase a common share at a future date. The funds will be used for exploration work, particularly at the Hat Polymetallic Deposit, and other operational costs.
Emperor Closes Increased Private Placement
Emperor Metals Inc. has announced the closure of its non-brokered private placement, issuing 8,175,000 flow-through shares at a price of $0.11 per share, raising $899,250 in gross proceeds. The size of the offering was increased from 7,500,000 shares to 8,175,000 shares, providing additional gross proceeds of $74,250. The proceeds will be used for qualifying Canadian exploration expenses. Alongside the sale, the company paid $49,500 in cash and issued 450,000 finder's warrants to eligible finders for some of the shares sold.
Equinox Gold Reports Third Quarter 2024 Financial and Operating Results
Equinox Gold Corp. has reported record third quarter results for 2024, with the highest quarterly revenue and adjusted EBITDA in the company's history. The success is largely credited to strong gold prices and ramp-up at their Greenstone Mine. Mining and processing rates at Greenstone have substantially increased, leading to a rise in the company's production guidance for 2024 to 590,000 to 675,000 ounces of gold. The company expects Q4 to bring the highest quarterly production of the year and plans to use the increasing cash flow to pay down debt.
Equinox Gold's Greenstone Mine Announces Commercial Production
Equinox Gold Corp. has announced that its Greenstone Mine in Ontario, Canada has reached commercial production. Despite challenges of the global pandemic, supply chain disruptions, and inflation, the mine has achieved this milestone after three years of construction and commissioning. During Q3, the mine processed an average of 14,300 tonnes per day, producing 42,400 ounces of gold. Through October, throughput steadily increased, averaging over 20,400 tpd. The current focus is on increasing plant availability and recoveries. At full production, Greenstone Mine will be among Canada's largest open-pit gold mines, producing an average of 390,000 ounces of gold per year for the first five years.
Millbank Mining Corp. Announces Name Change to Primary Hydrogen Corp.
Millbank Mining Corp. has announced that it will change its name to Primary Hydrogen Corp., effective November 13, 2024. The change was approved by the company's board of directors on August 9, 2024. Following the name change, the company's common shares will trade under the new symbol "HDRO". Primary Hydrogen Corp. is currently focusing on its Arthur Lake Copper project in British Columbia and Blakelock hydrogen project in Ontario.
Torex Gold Reports Q3 2024 Results
Torex Gold Resources Inc. has reported strong financial results for Q3 2024, owing to a 52% all-in sustaining costs margin. This was driven by a record average realized gold price of $2,313 per ounce and all-in sustaining costs of $1,101 per ounce of gold sold. The robust margins and strong operational performance resulted in $113 million cash generation. Despite spending $114 million on the Media Luna Project, the company retains a liquidity of $347 million. The project is expected to complete by February 2025, with the company planning to increase production in 2024 and accelerate the ramp-up of underground mining in 2025. Torex expects to return to positive free cash flow by mid-
KWG Consents to Geotechnical Program for Northern Road Link Environmental Impact Study
KWG Resources Inc., operating as The Canadian Chrome Company, has announced that Canada Chrome Corporation (CCC) has signed a memorandum of agreement with AtkinsRéalis Canada Inc. This agreement is in support of work permits needed for the development of the Northern Road Link. This road will connect the proposed Marten Falls Community Access Road and the Webequie Supply Road in northwestern Ontario. The agreement supports equitable benefits sharing with affected First Nations for the development of transportation and electrification systems in the James Bay Lowlands. It also allows for temporary access rights for AtkinsRéalis Canada Inc. under the Public Lands Act (Ontario).
Bravada Receives Approval to Extend Private Placement Closing
Bravada Gold Corporation has received approval for a 30-day extension until December 6, 2024, to close a previously announced non-brokered private placement. The placement involves up to 10,000,000 units at $0.035 per unit for gross proceeds of $350,000. Each unit includes one common share and one share purchase warrant, with each warrant exercisable to purchase an additional share for three years at $0.05 per share. An over-allotment option will also be made available. The units have not been registered under the US Securities Act of 1933 and cannot be offered or sold within the US. Bravada is an exploration company with a portfolio of properties in Nevada.
Jupiter Gold Acquires Licensed Iron Ore Mine and Expands its Mineral Portfolio
Jupiter Gold Corporation has announced it will merge with Apollo Resources Corporation, a private mineral exploration company with a permitted iron ore project in Brazil's Iron Quadrangle region. The merger was approved by both companies' boards of directors and will see Jupiter Gold as the surviving entity. Shareholders of Apollo Resources will receive Jupiter Gold shares in exchange for their holdings. Apollo Resources' key asset is its Rio Piracicaba Project, which has identified over 7 million tonnes of iron ore as indicated and inferred resources with an average iron grade of 31.53%.
Goldstorm Metals Discovers New High-Grade Zone; Drilling 1,766 g/t Silver over 0.45 Meters (Hole EL-24-16) and 7.78 g/t Gold over 1.50 Meters (Hole EL-24-15) at the Electrum Property, Located in the Heart of the Golden Triangle of Northwestern British Columbia
Goldstorm Metals Corp. has announced the results of its 2024 diamond drill exploration program at its Electrum gold-silver property in British Columbia, Canada. The program involved seven drill holes totaling 2,233 meters, which tested epithermal veins hosting precious and base-metal mineralization. The company completed Phase 1 drilling at the Dome Target and continued with Phase 2 drilling on the newly discovered LP Zone where visible native gold was identified at the surface. The Dome drill targeting aimed to expand known stockwork mineralization. Notably, drill hole EL-24-17 found a 48-meter intercept of volcanic rocks with pyrite-filled micro-fractures and quartz carbonate veinlets that returned 0.47 g/t Au with 5
Champion Bear Resources Announces Results of Annual General Meeting
At Champion Bear Resources Ltd.'s Annual General Meeting on October 24, 2024, shareholders approved five directors for the following year, appointed Kenway Mack Slusarchuk Stewart LLO as Company Auditor, re-approved the Stock Option Plan, and approved the Company Shares for Debt Plan. David Haigh was not re-elected as a director due to lack of majority support. The board expressed gratitude for his 27-year service and indicated that it might fill the remaining director vacancies in the coming months. Champion Bear is a mineral exploration company based in Ontario, with over 16,000 hectares of land in the Dryden and Sudbury areas.
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Masivo Silver Commences Drilling Hole Number 7 In Nevada
Masivo Silver Corp. has completed drilling hole No.6 at 279.9 feet to test historical IP anomalies that reflect sulfide mineralization, and has started drilling hole No.7 at a targeted depth of 280 feet. The company is also conducting metallic screen assays on samples from the Boston Mine due to observed presence of visible gold. Results from the first hole indicate that the company's projected target zones are accurate. The company is considering several gold and silver opportunities in Mexico for possible future acquisition and has a $75,000 drill and exploration credit to use in Mexico. Masivo Silver Corp. is a Canadian junior silver and gold mining exploration company currently focused on exploration projects in Nevada, US, and Sinaloa, Mexico.
Weekapaug Lithium Limited Changes Name to Protium Clean Energy Corp.
Protium Clean Energy Corp announced that it has officially changed its name from Weekapaug Lithium Limited, maintaining its trading symbol as "GRUV". The press release also contained forward-looking information about the company's future plans. However, it warned that these plans are subject to risks and uncertainties, including regulatory approvals and potential land claims, which could result in changes or delays.
Minaurum Consolidates Land Package at Aurifero Gold Project
Minaurum Gold Inc. has acquired a 100% interest in five royalty-free claims of the Aurifero high-grade gold project in Sonora, Mexico, and extended its option agreement to acquire the remaining claims by another three years. Located near Minaurum's fully-owned Alamos silver project, Aurifero has seen over 8,000 meters of drilling since the 1980s. The company now controls over 95% of this high-grade gold district and believe the gold veins could combine into a substantial gold system. The Aurifero project is 35 km northwest of the Alamos silver project and 26 km northwest of Mexico's third largest copper mine.
Gold Digger Resources Inc. Announces Update Regarding Agreement to Acquire Premium Uranium Corporation
Gold Digger Resources Inc. has extended the deadline for its acquisition of Premium Uranium Corporation (PURC) and its subsidiary, UA92, to December 31, 2024. This acquisition will make PURC and UA92 wholly owned subsidiaries of Gold Digger Resources. UA92 owns a mineral property in Botswana, which Gold Digger intends to explore post-acquisition. The company is currently auditing PURC's financial statements and preparing the required CSE Form 2A Listing Statement for post-acquisition disclosure.
Commander Identifies Targets at Burn Porphyry Copper Property, British Columbia
Commander Resources Ltd. has reported the results of a property-wide airborne magnetic survey and an induced polarization survey at its Burn Copper and Gold porphyry project in British Columbia. The project has identified a gold-rich zone and a separate upper-level porphyry copper-gold zone. The company has completed a detailed geophysical airborne magnetic survey over the entire property. Drill targets have been outlined, including areas of high chargeability with high magnetic responses. The company's CEO, Robert Cameron, said the large 6 square kilometre IP anomaly on the Charleston Target require drill follow-up.
QIMC Invited to Provide Input on ARPA-E's New Request for Information (RFI) on Geologic Hydrogen Resource Exploration
Quebec Innovative Materials Corp. (QIMC) has announced its participation in an initiative led by the Advanced Research Projects Agency-Energy (ARPA-E) aimed at advancing Geologic Hydrogen Resource Exploration. The initiative aims to develop innovative ways to identify and use naturally occurring hydrogen deposits. QIMC's expertise will contribute to the development of specialized exploration technologies, improve detection accuracy, accelerate the discovery process, and study geological processes that contribute to the natural generation of hydrogen reservoirs. The collaboration aligns with QIMC's aim to enable the economic assessment, sustainable extraction, and commercialization of geologic hydrogen resources.
North Peak Announces Closing of Private Placement
North Peak Resources Ltd. has closed on its previously announced non-brokered private placement, raising a total of $1,061,250. As part of this, over 1.4 million common shares were issued at $0.75 per share. These shares will be held for four months in accordance with securities laws. The funds will be used to explore and develop the company's mining assets, further business development, and cover administrative expenses. Company CEO Brian Hinchcliffe acquired 166,666 shares for $125,000, considered a "related party transaction". The transaction was exempt from certain requirements as it was for cash and the value of securities was under $2.5 million. The company did not file a material change report
Kenorland Reports 26.67 g/t over 3.30m at the Frotet Project, Quebec
Kenorland Minerals Ltd. has announced the results of the 2024 summer exploration program at the Frotet Project in northern Quebec. The company completed drilling in six holes, totalling 3,266m. The program primarily tested step-out targets generated from the recently updated geologic model of the Regnault gold system. Significant results were returned along the R6 trend, with one highlight being 5.40m at 7.35 g/t Au including 0.75m at 26.80 g/t Au. Kenorland currently holds a 4% net smelter return royalty and operates the project.
Avalon Enters into Strategic Collaboration with Qualcomm for Mining Innovation and Technology Solutions in Canada
Toronto-based Avalon Advanced Materials Inc. has signed a memorandum of understanding with Qualcomm Technologies Inc. to collaborate on a strategic initiative focused on Avalon's Thunder Bay lithium processing facility. The collaboration will use Qualcomm's Industrial & Edge technologies to create a digital infrastructure for mining activities and develop IoT-enabled solutions. This partnership aims to transform Canada's mining sector by integrating advanced technology, promoting data-driven advancements, improving environmental performance, and boosting operational efficiency. It will also support Ontario-based technology SMEs, strengthening Canada's critical minerals supply chain.
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