Mining Intelligence Articles & Market Analysis - Page 147
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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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Mineral Road Acquires Shares of Golcap Resources Corp.
Mineral Road Discovery Inc. has announced an agreement to acquire 2.5 million shares of Golcap Resources Corp from 1459988 BC Ltd, at a total purchase price of $500,000. In exchange, Mineral Road Discovery will issue 6.25 million shares to 1459988 BC Ltd, also valued at $500,000. The transaction is subject to approval by the Canadian Securities Exchange and further regulatory conditions. Emma Fairhurst, a director of both Mineral Road Discovery and 1459988 BC Ltd, is involved in this related party transaction. The company is using exemptions from certain requirements as the transaction's fair market value does not exceed 25% of the company's market capitalization.
Alma Gold Announces Stock Option Grants
Alma Gold Inc., a gold-focused exploration company, has granted a total of 1,200,000 stock options to its directors, officers, and consultants at a price of $0.15 per share, valid for three years. The options were vested on issuance under the company's Stock Option Plan, approved by shareholders in April 2024. The company, based in Bedford, Nova Scotia, is engaged in various exploration projects in Guinea and Canada.
Sanatana Announces Resignation of Director
Sanatana Resources Inc., a mineral exploration and development company based in Vancouver, has announced the resignation of Ian Smith from its board of directors. Smith has been a board member since January 2019. The company's principal project is the Oweegee Dome copper-gold porphyry property, optioned from ArcWest Exploration Inc.
Silver Elephant Closes 2nd and Final Tranche of Non-Brokered Private Placement Raising Gross Proceeds of $291,550
Silver Elephant Mining Corp. has closed the second and final tranche of its non-brokered private placement, raising $291,550 through the sale of 595,000 units at a price of $0.49 per unit. Each unit includes a common share and a share purchase warrant allowing the holder to buy another share at $0.55 for three years. CEO John Lee subscribed for 500,000 units, totaling $245,000. The securities will be under a regulatory hold for four months plus a day from the issue date. The funds raised are expected to be used for general corporate purposes.
STLLR Gold Announces C$25.0 Million Bought Deal Financing
Toronto-based STLLR Gold Inc. has entered an agreement with Paradigm Capital Inc. and a syndicate of underwriters. The underwriters will purchase or arrange for the purchase of approximately 20 million units of the company, split between Premium FT Units, FT Units, and Hard Dollar Units, at various prices. The total gross proceeds from this deal are expected to be roughly C$25 million. Each unit will consist of a common share that qualifies as a flow-through share and half of a common share purchase warrant, according to the Income Tax Act of Canada.
LITHIUM Market Staging an Epic Comeback - Catalysts to Watch
Paul Schubach of EMP Metals discusses bullish lithium sector trends and their direct extraction method....
Palamina Reports on Drilling at Sol De Oro East & Notes Multiple Visible Gold Intercepts at SDO South
Palamina Corp. has completed the first phase of its drilling program in the Sol De Oro Zone at its Usicayos gold project in SE Peru. Six holes were drilled and two of three zones tested, confirming a large mineralized system with gold values. The drill is now being moved to another area where two holes are planned. The company is still waiting for assay results. The project's mineralization and structures are comparable to Gold Mining Inc.'s Crucero gold deposit, which is situated in similar formations.
Magna Mining Closes $21.85 Million Private Placement of Common Shares
Magna Mining Inc. has successfully closed its private placement of over 20 million common shares at $1.05 per share, generating around $21.85 million in gross proceeds. The offering was led by Desjardins Capital Markets and SCP Resource Finance LP, and also included Canaccord Genuity Corp. and BMO Capital Markets. The proceeds will be used to advance Sudbury projects and for general corporate purposes. Dundee Corporation, through its subsidiary, subscribed for over 4 million common shares, maintaining its stake at around 22% of the common shares. The shares issued will be subject to a four-month hold period.
Inomin Signs Non-Binding Term Sheet for Earn-In and Joint Venture Agreement with Sumitomo Metal Mining Canada on Beaver-Lynx
Inomin Mines Inc. has announced a non-binding term sheet with Sumitomo Metal Mining Canada Ltd. regarding a proposed earn-in and joint venture agreement for the Beaver-Lynx project in British Columbia. This agreement allows Sumitomo to earn up to an 80% interest in the project's mineral claims by spending a minimum of $8,000,000 in exploration expenditures. Inomin will operate the project during the initial earn-in period, and will receive a fee equal to 10% of project exploration expenditures. The final agreement is subject to due diligence by Sumitomo.
Nevada Organic Phosphate Provides Updated Exploration Timeline and Confirms its Dedication to Environmentally Responsible Mining Practices
Nevada Organic Phosphate Inc. (NOP), a company engaged in the exploration for organic sedimentary raw rock phosphate in Nevada, has revised its drilling timeline due to a commitment to environmentally responsible mining practices. Its subsidiary, Nevagro, was denied an extension for its drill period by the Bureau of Land Management (BLM) due to habitat restrictions, pushing the start of drilling operations to mid-2025. NOP will not pay the reclamation bond until closer to the drilling start date. The company emphasizes the importance of environmental oversight and regulatory compliance, despite the delay in their project.
CopAur's JV Partner Intersects 6.22 g/t Gold over 18.98 Metres, Within 3.16 g/t Gold over 44.32 Metres at the Williams Property
CopAur Minerals Inc. has updated shareholders on progress made at the Williams Property in Northern British Columbia by Omega Pacific Resources, their joint venture partner. Omega Pacific has achieved a 51% interest in the project through a $6 million investment and 5 million share issuance. In 2024, they successfully expanded drill intersections, secured additional ground, and staked more property. CopAur will now focus on advancing the Kinsley Project and exploring the Locke Gold Mine.
Aftermath Silver Added to the Solactive Global Silver Miners Total Return Index
Aftermath Silver Ltd. has been added to the Solactive Global Silver Miners Total Return Index as of November 1, 2024. The company has also announced that over 4.8 million of its outstanding warrants have been exercised since October 17, 2024, leading to cash proceeds of Cdn$1,379,891. The funds will be used for studies at the Berenguela silver-copper-manganese project in Peru and for general capital purposes. Moreover, Aftermath plans to complete a non-brokered private placement of up to 22,222,222 units, which will result in 2176423 Ontario Ltd. becoming a "control person" of the company, pending approval. A shareholder meeting for
USCM Provides Asset Portfolio Update
US Critical Metals Corp. has announced an update on its US assets and future strategy. Despite market challenges, the company has maintained its portfolio of projects including the McDermitt East Lithium Project, Clayton Ridge Lithium Project, Long Canyon Vanadium and Uranium Project, Sheep Creek Rare Earth Project, and Haynes Cobalt Project. The company's strategy is to control costs and progress these projects to a drill-ready stage. As the market for commodities gains renewed interest, US Critical Metals Corp. plans to advance these assets and possibly expand its portfolio in the US and internationally. The CEO, Darren Collins, stated that despite a decrease in the value of critical metals like lithium, he sees potential for the future as markets recover.
Homerun Resources Inc. Memorandum of Understanding with Local Partner for the Processing of High Purity Silica Sands Originating from the Belmonte Silica District
Homerun Resources Inc. has received a non-binding Memorandum of Understanding (MOU) with a reputable local partner in the Belmonte Silica District. The partnership will involve cooperation in two ways: firstly, the Partner will process Homerun's silica sand for a fee, and secondly, the Partner will process and potentially sell both their own and Homerun's silica sand. The MOU is a crucial part of the second phase of Homerun's Business Plan Roadmap and is in line with its partnership with Companhia Baiana de Pesquisa Mineral.
Independence Gold Commences Drill Program at 3Ts Project, BC
Independence Gold Corp. has begun a diamond drill program at its 3Ts Project, located southwest of Prince George, British Columbia. The project covers a region with more than a dozen individual mineralized veins. The drill program will consist of around 25 drill holes totaling a minimum of 7,500 meters and will focus on the underexplored sections of the Ted-Mint and Tommy Vein Systems. Additional drilling will test mineralization along the Ian, Johnny, and Larry Veins. The Ootsa and Balrog targets will also be included in this drill program.
Max Resource Completes Strategic Review - Plans To Spin Out Iron Ore Assets to "Max Iron Brazil Ltd" and Seek Listing on ASX
MAX RESOURCE CORP. has decided to spin out its Brazilian Florália Hematite Iron Ore Assets into a new Australian entity, Max Iron Brazil Ltd. This move is aimed at maximizing shareholder value and will be followed by a reorganization of the current structure and pre-listing financing into Max Iron Brazil. The spin out is expected to be completed in Q1 2025, with the company retaining majority shares in Max Iron Brazil and managing all exploration activity on the Floralia project. The project is strategically located in a rich iron ore mining region in Minas Gerais, Brazil.
Dolly Varden Silver Intersects 12.23 g/t Au and 84 g/t Ag over 34.93m, 29.24 g/t Au and 16.94 g/t Ag over 13.94m at the Homestake Silver Deposit
Dolly Varden Silver Corporation has announced positive drilling results from its 2024 program at the Homestake Silver deposit in British Columbia's Golden Triangle. The drill program completed 69 holes totalling 31,726 meters, with significant results from several drillholes. This includes HR24-432, with gold and silver grades of 8.85 g/t and 5 g/t respectively over 48.23 meters, and HR24-435, with 4.64 g/t Au and 38 g/t Ag over 100.80 meters. More results are expected from the remaining 23 drill holes.
Ivanhoe Mines Announces Kamoa-Kakula Achieved Record Copper Production of 41,800 Tonnes in October
Ivanhoe Mines announced a combined monthly production record of 41,800 tonnes of copper in concentrate and a monthly milling record of 1.2 million tonnes in October 2024 at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC). On October 12, the concentrators produced a record 1,720 tonnes of copper, equivalent to an annualized production rate of approximately 580,000 tonnes of copper. Total copper production up to the end of October 2024 was 345,042 tonnes. The Phase 3 concentrator also milled a record 19,198 tonnes of ore on October 21, operating at 30% above its capacity.
Western Gold's MT Survey Confirms Depth Potential for Mineralised Copper-Gold Porphyries in Lorne, Scotland
Scotland-based company, Western Gold Exploration Ltd., has announced the results of its helicopter magnetotelluric (MT) geophysics survey within the Lorne Porphyry District. This is the first time such deep-penetrating MT technology has been used in the UK. The survey revealed significant depth and near-surface potential at Lagalochan and Ardlochan prospects, and identified other potential porphyry-related centres. It also suggested that porphyry mineralisation is more widespread than previously thought. A 'classic porphyry' ring structure has been identified at Ardlochan, adding significance to the geophysical anomaly. The results confirm the possibility of extending the mining scope to greater depths and areas.
Aurania's Sampling of Sea Bottom Indicates Potential for Greater Extent of Nickel at Corsica
Aurania Resources Ltd. has completed initial sea bottom sampling offshore of the Nonza and Albo Beaches, Cap Corse. The results suggest that the area's nickel potential is not just confined to the beach, but significantly extends offshore. Using a high-intensity rare earth magnet, abundant black sands were collected, believed to be composed of awaruite and magnetite. Preliminary analysis yielded 40.1% nickel. LiDAR technology was used to produce detailed 3D images of the Earth's surface, revealing different submarine topography. It is hypothesized that waste from the historic Canari Mine filled in and covered the sea bottom at Albo and Nonza Beaches.
Hercules Intersects Shallow Porphyry Mineralization and New Hydrothermal Breccia
Hercules Metals Corp. has provided an update on its ongoing drilling at the Leviathan porphyry copper system in western Idaho. The company has completed drilling three holes and is currently working on a fourth. Results from these drills have shown mineralization beginning at 72m depth, with the mineralized envelope continuing to expand in multiple directions. A new magmatic-hydrothermal breccia pipe has been discovered, representing a new target with vertically extensive potential.
Rua Gold Intersects Visible Gold and Confirms Downhole Continuity of High-Grade Gold Mineralization at Murray Creek, Reefton
Rua Gold Inc. has made progress in its drilling campaign at the Reefton Project in New Zealand, with the completion of the second hole testing of the Victoria lode. The test intersected the targeted gold vein at 388m down hole and included visible gold of 0.2m at 34.1g/t. The company has also started a series of wedged daughter holes to further investigate the unmined reef down dip and along strike. The CEO of Rua Gold, Robert Eckford, is optimistic about the results and the future of the project.
Route 109 Resources Inc. Announces Results from its 2024 Annual Meeting of Shareholders
Route 109 Resources Inc., a junior Canadian mining exploration company, has announced the results from its Annual General Meeting. All management resolutions proposed were approved by the majority of votes cast. Robert Pryde, Wanda Cutler, and Verlee Webb were re-elected as directors, while Marc Bustin and Jeremi Fournier did not stand for re-election. The company primarily aims to acquire, explore, and develop viable gold and base metal projects in Quebec, Canada, focusing on its King Tut Project and Dunlop Bay Project.
Magna Mining Discovers New Copper Zone at the Shakespeare Project
Magna Mining Inc. has reported the successful completion of the first drilling at its Southwest (SW) Copper zone in Sudbury, Ontario, which has intersected 1.4% Cu over 32.4 metres, including 2.3% Cu over 13.9 metres. The drilling is part of a regional diamond drilling program on the Shakespeare Project. The company is optimistic about the potential of the area and plans to continue testing it. The SW Copper zone is part of a larger region that holds several known copper occurrences, including the Stumpy Bay showing.
American Copper Development Corporation Appoints Marcio Fonseca P.Geo to Board of Directors
American Copper Development Corporation has announced the appointment of Marcio Fonseca, P.Geo, as an independent board member. Fonseca, a respected mining executive with over 30 years of experience, has previously worked with large mining corporations and global investment banks. His accomplishments include successful discoveries of Tier 1 deposits and developing mines in major mining districts. He has also been instrumental in successful transactions like the CAD$155M acquisition of SilverCrest Mines by First Majestic Silver Corp. Currently, Fonseca is the President, COO, and Founder of an unnamed entity, and he has extensive experience in capital markets, strategic partnerships, mergers and acquisitions, and securing financing for global natural resource projects.
Maple Gold Announces $5 Million Brokered Private Placement
Maple Gold Mines Ltd. has entered into an agreement with Beacon Securities Limited to lead a private placement offering. This offering will include non-flow-through units of the company at $0.065 per unit and flow-through common shares at $0.08 per share, aiming to raise up to $5,000,000 in total. Each non-flow-through unit will include one common share and half of a common share purchase warrant, which can be used to acquire one non-flow-through common share at $0.10 within 36 months from the offering's closing. The offered securities will be sold to purchasers in Canada and other agreed upon jurisdictions outside of Canada.
Dakota Gold Corp. Announces Additional Positive Drill Results from Infill Program at Richmond Hill Gold Project
Dakota Gold Corp. has announced promising drill results from the initial seventeen holes of an ongoing program at the Richmond Hill Gold Project. The results, which revealed further gold mineralization, will be included in a report due in Q1 2025. In April 2024, the maiden resource report indicated 1.33 million ounces and inferred 1.13 million ounces of gold. The company believes the initial resource could be significantly expanded with additional infill drilling. Expansion drilling is currently in progress, and an updated resource estimate is planned for early 2025.
GT Resources Intersects 2.0% Nickel over 33.5 meters at the Canalask Nickel-Copper Project
GT Resources Inc. has announced additional diamond drill assay results from its 2024 exploration campaign at the Canalask Nickel-Copper Project in Yukon, Canada. The results reveal a significant amount of nickel, copper, cobalt, gold and palladium. The drilling program indicates that the Footwall Zone consists of a combination of physically and hydrothermally remobilized nickel sulphide, suggesting a larger accumulation of nickel sulphide within the nearby Kluane Ultramafic Feeder Dyke. The company plans to test the gabbro zone in the 2025 drill program.
Group Eleven Announces Michael Gentile Joins Board of Directors of the Company
Group Eleven Resources Corp. has appointed Michael Gentile, a leading strategic investor in the junior mining sector, as a non-executive director. Gentile holds significant stakes in over 20 small-cap mining companies and is currently a director of several mining firms. He also co-founded Bastion Asset Management, a money management firm with over $425 million in assets. In the past four years, Gentile has been instrumental in helping Group Eleven grow its market audience and lower its cost of capital. His appointment is expected to bring additional capital markets capability to the company.
AuMEGA Metals Closes the First Tranche of Private Placement Financing
AuMEGA Metals Ltd has completed the first tranche of its previously announced financing deal, issuing 131,152,889 new shares and generating C$8.77 million. The shares were offered to institutional, professional, and accredited investors, with a majority being placed on the TSX Venture Exchange and ASX. The second tranche, which is expected to raise C$7.34 million, is still subject to shareholder approval and is planned to be issued in December 2024.
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