Great Panther Silver Reports Third Quarter 2018 Production Results and Provides Corporate Update

By Ashley Cowell

Great Panther Silver (TSX:GPR; NYSE:GPL) (“Great Panther”; the “Company”) announces production results for the third quarter (“Q3”) 2018 from its two wholly-owned Mexican silver mining operations: the Guanajuato Mine Complex (“GMC”), which includes the San Ignacio Mine, and the Topia Mine in Durango.

Nine Months ended September 30, 2018 (Compared to the Nine Months ended September 30, 2017)

  • Silver production decreased 3% to 1,419,712 silver ounces (“Ag oz”)
  • Gold production decreased 3% to 16,060 gold ounces (“Au oz”)
  • Lead and zinc production increased 75% and 41%, respectively
  • Consolidated metal production increased 11% to 3,219,182 silver equivalent ounces (“Ag eq oz”)(1)
  • Ore processed increased 4% to 284,985 tonnes

Third Quarter 2018 Production Highlights (Compared to Third Quarter 2017)

  • Silver production decreased 16% to 448,840 Ag oz
  • Gold production decreased 19% to 4,737 Au oz
  • Lead and zinc production increased 29% and 14%, respectively
  • Consolidated metal production decreased 5% to 1,023,128 Ag eq oz(1)
  • Ore processed decreased 1% to 92,920 tonnes
(1) Ag eq oz for 2018 presented in the press release are calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc respectively. Comparative Ag eq oz for 2017 are calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.00676 for the price/ounce of silver to price/pound of lead and zinc respectively. The changes reflect changes in the prices of gold, lead and zinc in relation to the price of silver in 2018 relative to 2017. Prior disclosure of 2018 Ag eq oz production results were computed on different ratios. Please refer to notes in the applicable disclosures.

“We remain on track to meet our production guidance for 2018 with good year-to-date production performance, despite a decline in silver and gold production for Q3 compared to Q3 of last year”, stated James Bannantine, President & CEO. “Given the sustained low metal price environment, we adjusted our mine plan in the third quarter to exercise the flexibility between our mines and plant to reduce mining of higher cost stopes at the Guanajuato Mine. This was a factor accounting for the relative decline in silver and gold production in the third quarter, along with lower grades and recoveries at the GMC and a particularly strong quarter of production for Q3 of 2017. We also initiated other cost reduction measures at our Mexican operations to address the low metal prices. Our focus over the coming months will be on completing the acquisition of Beadell Resources Limited, as well as continuing to progress the Bulk Sample Program at our Coricancha Mine in Peru and advance to a production decision in early 2019.”

(1) Silver equivalent ounces for 2018 were calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2018.
(2) Silver equivalent ounces for 2017 were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to price/pound of lead and zinc, respectively, and are reflective of average metal prices for 2017.

Guanajuato Mine Complex

In Q3 2018, production at the GMC included silver production of 448,840 oz and gold production of 4,737 oz, which represent a 16% and 19% decrease, respectively, compared to the same quarter in the previous year. During Q3 2018, we took steps to reduce mining of higher cost areas of the Guanajuato Mine. This was partly offset by an increase in ore feed from the San Ignacio Mine. Although San Ignacio has a lower overall mining cost, metal production was also affected by lower grades reflecting variability in the mineralization. The increase in Ag eq oz production reflects the change in the relative Au to Ag price as reflected in the Au:Ag ratio used to compute Ag eq oz.

The San Ignacio mine accounted for 76% of the total ore processed at the GMC in Q3 2018, compared to 58% in Q3 2017.

(1) Silver equivalent ounces for 2018 were calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2018.
(2) Silver equivalent ounces for 2017 were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to price/pound of lead and zinc, respectively, and are reflective of average metal prices for 2017.

Topia Mine

In Q3 2018, silver and gold production from the Topia Mine declined 2% and 14%, respectively, compared to the same quarter in the previous year. Lead and zinc production increased 29% and 14% compared to the same quarter in the previous year, which contributed to the 15% increase in metal production in the quarter. The rise in metal production is attributed to higher tonnage processed coupled with higher lead and zinc grades.

The increase in ore processed is the result of a combination of mining areas with wider veins, as well as higher mill availability due to improved operational efficiencies.

The production tonnage in Q3 2018 saw lower silver and gold grades compared to the same quarter in the prior year. However, the decrease in silver and gold grades was more than offset by the increased lead and zinc grades.

(1) Silver equivalent ounces for 2018 were calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2018.
(2) Silver equivalent ounces for 2017 were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to price/pound of lead and zinc, respectively, and are reflective of average metal prices for 2017.

OUTLOOK

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From:: Investing News Network

BTU Mobilizes Crews to Dixie Halo Property Contiguous to Great Bear’s Dixie Project, Red Lake District, Canada

By Ashley Cowell

™

BTU Metals Corp. (TSXV:BTU)(“BTU” or the “Company”) announces that crews have mobilized for a site visit on the Company’s Dixie Halo property, which adjoins the northern and eastern boundaries of Great Bear Resources Corp.’s (TSXV:GBR) Dixie Project located in the Red Lake District of Ontario. Great Bear recently reported the SLZ discovery in drill hole DSL-004, at only 75 metres (m) of vertical depth, returning 1.75 m of 101.05 grams per tonne gold (“g/t gold”) within a vein zone of 10.35 m of 18.23 g/t gold (see PR dated Sept. 27, 2018). The new discovery has generated an online staking rush in the area with the Company’s Dixie Halo viewed as the closest to, and one of the most strategically located property positions in this emerging gold camp. In addition, Great Bear has recently raised over $10 million with funds focused towards exploration of the Dixie Lake project.

The site visit is led by both the Company’s VP of Exploration, Don McKinnon, as well as independent director Doug Hunter (P.Geo).

One priority target is located on the southern portion of the Dixie Halo property, where previous work by Laurentian Goldfields (now Pure Gold Corp.) outlined a significant Mobile Metal Ion (MMI) geochemical gold anomaly approximately 500 by 700 meters in area. MMI™ measures metal ions that travel upward from mineralization to unconsolidated surface materials such soil, till, sand and so on. These mobile metal ions are released from mineralized material and travel upward toward the surface. MMI It is especially well suited for terrain with extensive overburden cover such as the Dixie Lake area, and this geochemical procedure is widely applied for buried Archean gold mineralization.

The technical contents of this news release were approved by Douglas Hunter, PGeo, a qualified person as defined by the National Instrument 43-101. The properties have not been the subject of an NI 43-101 technical report.

About BTU Metals Corp

BTU Metals is a Canadian-based junior exploration company focused on developing its Galway Gold project located in Ireland and the Shakespeare Gold project in Ontario. For more information on BTU Metals Corp. please visit our website located at www.btumetals.com.ON BEHALF OF THE BOARD

“Paul Wood”

Paul Wood, CEO, Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

Click here to connect with BTU Metals Corp. (TSXV:BTU) for an Investor Presentation.

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From:: Investing News Network

Enforcer Gold Announces Filing of NI 43-101 Technical Report for Roger Gold-Gopper Project

By Ashley Cowell

Enforcer Gold Corp. (TSXV:VEIN) (“Enforcer” or the “Company”) is pleased to announce it has filed on SEDAR (www.sedar.com) a National Instrument 43-101 Technical Report titled “NI 43-101 Technical Evaluation Report on the Roger (1206) Property” and dated October 9, 2018 (the “Technical Report”) by Geoloica Groupe-Conseil Inc. and GeoPointCom Inc.

The Technical Report supports the disclosure of the mineral resource estimate presented in Enforcer’s press release dated September 18, 2018.

As previously announced, the 7,400 m Phase 2 diamond drilling program is underway with ~80% of the program dedicated to expanding and upgrading the current resource estimate and ~20% allocated to exploration drilling outside of the resource area. Enforcer is fully funded to cover the Phase 2 program which in turn will exceed its year 2 spending obligation of $750,000.

Pit-Constrained Mineral Resource Estimate on the Mop-II Gold-Copper Deposit – July 4, 2018

Note: Details of the 2018 mineral resource estimate are provided in the Company’s press release dated September 18, 2018. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

About SOQUEM

SOQUEM Inc., a subsidiary of Ressources Québec, is a leading player in mineral exploration with its mission to explore, discover and develop mining properties in Quebec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other mineral commodities in Quebec.

About Enforcer Gold Corp

Enforcer Gold Corp is a Canadian-based mineral exploration company and is earning a 50% interest in the royalty-free Roger project from SOQUEM. Roger hosts the Mop-II gold-copper deposit located 5 km from the historic mining center of Chibougamau, Quebec. To date, 58,000 m of diamond drilling have been completed at Roger property and underground exploration undertaken in 1988 included 1,177 m of development and over 1,000 m of chip sampling. Enforcer also holds a 100% interest in the Waswanipi gold project located 125 km west of Chibougamau. Both projects are situated within the prolific Abitibi greenstone belt, which has produced over 180 M oz. of gold and over 450 Mtonnes of copper-zinc ore since the early 1900s.

Enforcer’s VP Exploration, Antoine Fournier, PGeo, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release contains “forward-looking statements” that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration of its Roger project, the exploration potential and analogous deposit potential of the Roger project and the timing of the Company’s exploration programs. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; the ability of the Company to complete transactions on terms announced; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Enforcer Gold does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Click here to connect with Enforcer Gold Corp. (TSXV:VEIN) for an Investor Presentation.

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From:: Investing News Network

Golden Arrow Expands into Chile with Agreement to Acquire the Atlantida Copper-Gold Project

By Scott Tibballs

gold outlook free report

Golden Arrow Resources (TSXV:GRG) has announced that it has signed definitive agreements to acquire the 3,450 hectare Atlantida copper-gold projectin Chile’s Atacama region.

The company said that Atlantida is an advanced project which combines mineral rights from two separate owners and includes an extensively drilled copper-gold deposit with an historic resource estimate. By consolidating the land package, Golden Arrow believes there is potential to identify new mineralization and define a significant copper-gold resource.

As quoted in the press release:

Previous exploration at Atlantida resulted in an historic resource estimate of 427 million tonnes averaging 0.43 percent copper equivalent. The resource includes a deep porphyry copper-gold target and a near-surface skarn with higher gold grades which together cover an area of approximately 225 hectares.Situated within the consolidated Atlantida property, this skarn zone is located on the western edge of the claim hosting the historic resource, and extends onto an adjacent claim that has historic workings but has had limited modern exploration. Golden Arrow’s due diligence surface rock samples in this area returned up to 3.7 grams per tonne (g/t) gold and 1.98 percent copper, providing an excellent target for new mineral resources. In addition, based on the preliminary due diligence review, Golden Arrow believes the Project is prospective for discovery of similar targets elsewhere within the consolidated Atlantida properties.

Click here to read the full Golden Arrow Resources (TSXV:GRG) press release.


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Mining Industry is “Starved for Capital,” Says Franco-Nevada CEO

By Charlotte McLeod

gold outlook free report



It’s been an underwhelming year for gold, but David Harquail, CEO of Franco-Nevada (TSX:FNV,NYSE:FNV), sees better times ahead for the yellow metal.

“It’s been a tough environment for gold. We’ve had almost every headwind possible with the US dollar, higher interest rates, tariff barriers and some issues at various projects,” he said at the recent Denver Gold Forum. “But despite that gold has been staying steady at $1,200, so that gives me a lot of optimism that we’ll see better gold prices in the future.”

In his opinion, “we’re closer to the bottom of the market” than to the top, which means that Franco-Nevada is currently in the process of deploying capital. “We think the best time to buy things is when you’re at the low ebb of the cycle,” he explained.


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Speaking about where Franco-Nevada will see growth in the coming year, Harquail said it will come from three main areas: the Cobre Panama project, assuming it comes in, the Candelaria project and the company’s oil and gas assets.

“We are now in the position where we paid the largest dividend in the global gold industry last year, $165 million. We increased it for this year to $180 million, [and] we can pay that for the next 35 years doing nothing,” he said. Moving forward the plan will be to build up cash to invest during the next downturn.

Harquail ended by commenting on how Franco-Nevada has responded to new companies entering the royalties space. “A lot of entrants come and go over time. I think the key thing is having the staying power to invest through multiple cycles,” he said, adding that rather than royalties companies his company’s main competition is brokers with bought deals.

“Right now that equity market is very weak, and so it’s actually — there’s more than enough things for us to buy and for our competition to buy as well. The mining industry is starved for capital.”

Click here to see the full Denver Gold Forum playlist on YouTube.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.


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From:: Investing News Network

Mining M&A Heats Up: Does 3 Deals Make a Trend?

By Charlotte McLeod

gold outlook free report

The last week of September and the first week of October brought three major deals in the precious metals space, with the biggest by far being the US$18.3-billion tie up of Barrick Gold (TSX:ABX,NYSE:ABX) and Randgold Resources (LSE:RRL).

That merger came the same day as Great Panther Silver’s (TSX:GPR,NYSEAMERICAN:GPL) acquisition of Beadell Resources (ASX:BDR) and was followed closely by Americas Silver’s (TSX:USA,NYSEAMERICAN:USAS) purchase of Pershing Gold (TSX:PGLC,NASDAQ:PGLC).

The onslaught of M&A activity has investors wondering if more could be in store — and the general consensus from market watchers seems to be “yes.”


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“It’s funny, there’s been three deals in a week and we haven’t had three deals all year,” Darren Blasutti, president and CEO of Americas Silver, said after his company’s news hit the market.

“I think you’re going to see a lot more intermediates buying juniors and more juniors getting together,” he continued. “[There are] two concepts here: one of them is people have to replace their reserves and resources because they haven’t really been drilling … or they’ve been mining their highest-grade material to try and stay cashflow positive.”

The second is that “there are just too many single-asset companies, and single-asset companies are very inefficient.” For example, he said, single-asset companies “spend $4 to $5 million just being a company — being on the stock exchange, having auditors, all of that kind of stuff.”

He sees more M&A activity coming down the pipe as companies try to combat that problem — “I don’t think you’ll see a lot of big, big deals … but I think you’re going to see another three, four, five, six deals that are going to be at the intermediate level.”

Blasutti’s first point is a problem many in the gold space have identified. Speaking at the recent Denver Gold Forum, during which the Barrick/Randgold deal was announced, Charles Cooper of Metals Focus said that major miners have been losing market share to “the intermediate sector and junior miners.”

He also anticipates further M&A in the sector down the road. “For the gold industry as a whole I think it is a shot in the arm that the industry needs,” he said. “It’s showing that M&A can happen and it can happen in a way where you have a shakeup of an old-style, massive company like Barrick Gold.”

The idea that single-asset companies are the ones that will engage in M&A activity has been voiced by Gabelli Gold Fund analyst Chris Mancini as well. Also speaking at the Denver Gold Forum, he commented, “the market’s just taking any opportunity to slam the stock of a company that’s a single-asset company which doesn’t meet its guidance.”

Mancini added, “even if it’s something that happened for a couple of days during a quarter, the market forecasts that out for the rest of the mine life. And so I think that it is somewhat likely that if the gold price stays here you could see single-asset companies combining to … mitigate that [risk].”

Of course, said Blasutti, in order for further business combinations to be well received it will be important for companies to secure arrangements that make sense.


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“The reception of our deal has been good, the reception of the Barrick deal’s been good. The reception of the Great Panther deal’s been good,” he said. “You haven’t seen stocks go down 20 percent on announcement … I think that bodes well for getting transactions done as long as they make sense. If the market understands why you’re doing it, I think it’s a good time to be doing them.”

With metals prices low and stocks down, that type of engagement with investors has been a key topic of discussion in the precious metals space this year. When asked whether he sees recent M&A activity increasing interest in the industry, Blasutti said it’s only one part of the picture.

In his opinion, to be successful companies will need to make smart decisions — about M&A or otherwise — that show market participants they will be able to make money if they invest. And of course, it would help if gold and silver prices improved.

For his part, he’s fairly optimistic on both counts. “I think the industry’s come a long way from its big spending in the late 2000s and early 2010, 2011 … people are much more focused on being good stewards of shareholders’ capital, and certainly we focus on that every day.”

Looking at prices, he sees silver as the metal with more upside. “I don’t think we have a silver market at $14.50 or $14.75. There’s very few primary silver companies that can make any money at that kind of price,” he said. Conversely, “at $1,200 gold people can make money.”

Blasutti continued, “the industry needs a higher price for silver, whereas with gold you can still find projects that can make really good returns. So I think silver’s got more upside than gold — but ultimately we’ve got to buy projects that can make money at today’s prices, so that’s what we’ve done.”

On the whole it remains to be seen whether M&A activity continues and whether it stokes greater interest in the precious metals space. For now, hopes remain high, and all eyes are on the deals that have already been made — especially the one between Barrick and Randgold.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Great Panther Silver is a client of the Investing News Network. This article is not paid-for content.

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From:: Investing News Network

HAWKEYE Acquires an Additional 1,360 Hectares Contiguous to the McBride Property in the BC Golden Triangle

By Ashley Cowell

HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) (TSXV:HAWK; Frankfurt Ticker: HGT; WKN: A12A61 ISIN: CA42016R3027): is pleased to announce it has entered into a Sale and Purchase Agreement (SAPA) with the vendor of the Klappan Project (the “Property) to acquire a 100% interest in the 1,360 hectare Property which is contiguous to the eastern boundary of HAWKEYE’s McBride Property. The Property is located along the Klappan River and is contiguous to the northern boundary of the Red Chris Mine (Imperial Metals), and within 2 kilometres of properties held by GT Gold.

The Property was staked to cover historical rock sampling with results up to 8.78 g/t gold on the claims. The claims are underlain by the Stuhini sediments and Hazelton Volcanics which are the same rock types associated with the Red Chris Mine, GT Gold’s recent significant discoveries and other significant discoveries in the BC Golden Triangle.

These claims will form part of the McBride Property increasing its size from 2,635 to 3,995 hectares.

Agreement Details

The Property acquisition is subject to a $3,000 cash payment and the issuance of 100,000 shares and a further 250,000 share issuance should the project proceed to a Preliminary Economic Assessment (PEA). The acquisition is not subject to an NSR. The Sale and Purchase Agreement between HAWKEYE and the Vendor is subject to TSX approval.

Qualified Person

Greg Davison, M.Sc., P.Geo., Senior Technical Advisor to HAWKEYE is the Company’s designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Davison has prepared, reviewed and validated that the technical information contained within this release is accurate.

About HAWKEYE

HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia, Canada. The Company’s precious and base metals properties are located in the prolific BC Golden Triangle, world-class Barkerville gold camp and Vancouver Island, BC, Canada. HAWKEYE’s corporate mandate is to build strong asset growth and shareholder value through the acquisition of low-cost, high-potential cash flow and production opportunities with blue sky discovery potential, and to manage our business in an environmentally responsible manner while contributing to the local community and economy.

HAWKEYE GOLD & DIAMOND INC.

Per:

“Greg Neeld”

President & CEO

Vancouver: (604) 908-8511

Email: greg@hawkeyegold.com

Web Site: www.hawkeyegold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Notes Regarding Forward Looking Statements

This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

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From:: Investing News Network

Hammer: Geophysical Survey and Drilling to commence at Perentie

By Scott Tibballs

gold outlook free report

Hammer Metals (ASX:HMX) has released an update on drilling at its Perentie copper-gold project near Mt Isa, Queensland.

As highlighted in the press release:

  • Hammer Metals anticipates commencing a sub-audio magnetics ground geophysical survey over the Paddy B, Judith and Trackside prospects at Perentie in two weeks.
  • RC drilling will commence immediately following the SAM survey which is expected to take one week.
  • Provided the SAM technique is effective in detecting the mineralization the survey will be extended over other “demagnetized” mineralized trends, many of which are obscured by shallow cover and remain to be evaluated.

Executive chairman of Hammer, Russel Davis said:

Hammer is keen the expedite exploration at Perentie, and is planning to have the first pass drilling completed and reported by late November. It is still however very early days at Perentie with many of the other targets and trends obscured by shallow cover to be tested in due course.

Click here to read the full Hammer Metals (ASX:HMX) press release.


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From:: Investing News Network

Orsu Metals: Developing the Next Significant Gold Deposit in Russia

By Alison Cameron

Orsu Metals (TSXV:OSU) has launched its campaign on the Investing News Network’s Resource channel.

Orsu Metals is a mineral exploration and development company currently focused on advancing the Sergeevskoe gold project in Russia’s Transbaikalian region, of which the company owns 90 percent. The property is leased until 2031, and that lease can be extended for an additional 10 years once the mine starts production.

Since acquiring the property in 2016, Orsu Metals has completed approximately 15,000 meters of drilling and approximately 5,000 meters of trenching on the property. Moving forward, the company anticipates the completion of an NI 43-101-compliant resource estimate, which will be followed by a preliminary economic assessment (PEA) for the property.

Orsu Metals’ company highlights include the following:

  • Sergeevskoe gold project license expires in 2031, but it can be extended for an additional 10 years once the mine starts producing.
  • Situated in a historical mining district that has reportedly produced approximately 18 million ounces of gold.
  • Situated between two open-pit mines.
  • Extensive historical exploration has been conducted on the property.
  • Completion of a maiden resource and PEA are forthcoming.
  • Management hold approximately 35 percent of the company’s shares.

Click here to see the educational profile for Orsu Metals (TSXV:OSU) and to request an investor presentation.

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From:: Investing News Network

Drilling Intersects Additional Near Surface Copper Mineralization – Samalayuca Property, Chihuahua State, MX

By Pia Rivera

VVC Exploration Corporation (“VVC” or the “Company”) (TSXV:VVC) today announces assay results from sixteen additional diamond drill holes (DDH) from the ongoing drilling program at its Samalayuca Copper Property (the “Property”) in northern Chihuahua State, Mexico. Over 5,000 meters in 49 holes have been drilled to date during the 2017/2018 drilling campaign.

The sixteen (16) additional DDH’s tested the Gloria Extension East Zone (GEEZ), over a 450 m strike length. Fifteen (15) of the sixteen (16) DDH’s intersected significant near surface copper mineralization as detailed in the table below. The results further define and extend the copper mineralization, which lies just to the east of the Gloria Extension zone (GEZ) (see plan map on website for locations). The Company commenced drilling in early August on the GEEZ, which is separated by a fault but is only 20 meters to the east of the GEZ, essentially a “on strike” extension, with copper mineralization traced by artisanal miners over a 850 m strike length. Results from the fifteen (15) drill holes which intersected copper mineralization, are summarized below, with only values >0.1% Cu shown.

VVC’s Chairman, Dr. Terrence Martell pointed to the results from the GEEZ drilling as further confirmation of the potential of the Company’s Samalayuca Copper Property and added: “We have two more zones to drill in this campaign, the trapezoid-like area in the Suerte and Juliana zones and around the old Concha pit. So far the results of this campaign have validated our hypothesis regarding the significant potential of the Samalayuca Copper Project.”

Exploration Summary – Samalayuca – 2018 Phase III Drilling Program

The Company’s Samalayuca Phase III drilling program, originally planned for 3000 meters, began in May 2018 and is expected to be completed in November 2018. The drilling was 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 49 DDH completed to date.

Geology

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

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 (NI) 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

For further information, please contact:
Patrick Fernet – (514) 631-2727
E-mail: pfernet@vvcexploration.com

or

Eugene Braigen – (646) 245-3409
E-mail: eugene@vvcexpl.com

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.

Click here to connect with VVC Exploration Corporation (TSXV:VVC) for an Investor Presentation

The post Drilling Intersects Additional Near Surface Copper Mineralization – Samalayuca Property, Chihuahua State, MX appeared first on Investing News Network.

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