Brixton Metals Announces Completion of Warrant Acceleration and the Exercise of Warrants Held by Robert McEwen

By Pia Rivera

Brixton Metals Corporation (TSXV:BBB) (the “Company” or “Brixton”) is pleased to announce it has successfully completed the acceleration (the “Acceleration”) of 7,250,000 share purchase warrants (the “Warrants”) issued pursuant to a private placement of units that closed in April 2016. On completion of the Acceleration, 4,044,000 Warrants were exercised (of which 1,340,000 Warrants that were held by directors and officers of the Company and 4,000 Warrants issued to finders of the private placement were exercised) at the cash exercise price of $0.15, for gross proceeds of $606,600 and the remaining 2,424,000 Warrants were cancelled. Mr. Robert McEwen, through his wholly owned company Evanachan Limited, exercised 2,500,000 Warrants and received 2,500,000 common shares of the Company.

Each Warrant entitled the holder thereof to purchase one common share of the Company at a price of $0.15 per share for a period of 36 months from the issue date. The Company had the right to accelerate the expiry date of the Warrants in the event that the closing price of the Company’s common shares was equal to or greater than $0.25 for twenty consecutive trading days on the TSX Venture Exchange (the “Acceleration Event”). The Company gave notice to the Warrant holders that the Acceleration Event had occurred during the term of the Warrants and the expiry date of the Warrants was accelerated to thirty (30) days after the date of the notice, being October 10, 2018.

About Brixton Metals Corporation

Brixton Metals Corporation is a gold-silver exploration & development company focused in Canada and USA. Brixton wholly owns 4 projects. The advanced stage, Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn (Golden Triangle)” and “Atlin” in British Columbia, Canada, have generated excellent results to date. Lastly, two past producing high-grade silver-cobalt mines, the Langis-Hudson Bay projects, are brownfield projects with excellent infrastructure and are located in Ontario, Canada. The Langis and Hudson Bay mines produced at 25 and 123 opt silver, respectively. The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations, please contact Mitchell Smith at mitchell.smith@brixtonmetals.com or 604-630-9707.

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.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Click here to connect with Brixton Metals Corporation (TSXV:BBB) for an Investor Presentation

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From:: Investing News Network

Signature Resources Announces that GPS Collar Survey Locates 84% of 1980s Diamond Drill Holes at its High Grade Lingman Lake Gold Property

By Ashley Cowell

Signature Resources Ltd. (TSXV:SGU, OTCQB:SGGTF) (“Signature” or the “Company”) is pleased to announce the successful completion of a high resolution GPS survey of the diamond drill casings from the drill campaigns conducted from 1987 to 1989. 84% of the drill casings, from a total of 154 drill holes were located.

“We are very pleased with this result and we are very fortunate that the located holes had their casing intact. Quite often the drill casing, which goes through the overburden and is anchored to bedrock at its lower end, is removed leaving no surface evidence of the hole. Now that these casings have been located to a sub-meter accuracy (60cm), we have the confidence level that we need to refine our geological model. We will also be able to geo-reference other features in relation to the drill holes with a greater degree of accuracy, allowing us to produce better property scale maps”, commented Walter Hanych, President and CEO of Signature Resources.

The survey was conducted employing a SX Blue II GPS unit which provided accuracy to 60cm. Each locate was measured by taking five fixes minimum with a 95% confidence level.

The company is also nearing the completion of winterizing its field camp in anticipation of a winter drill program in 2019.

Qualified Persons

The scientific and technical content of this press release has been prepared by Walter Hanych, P.Geo., President-CEO of Signature Resources. Mr. Hanych is a Qualified Persons as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Signature

The Lingman Lake gold property consists of four free-hold patented claims and 762 single-cell staked claims. Total land package amounts to 15,372.3 hectares; 275.5 hectares of the property total include 14 mineral-rights patents. The property hosts an historic estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g Au/t at a 2.73 g Au/t cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft and three levels of development at depths of 46 m (150 Level), 84 m (275 Level) and 122 m (400 Level).

*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101-compliant mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, “Technical Report on the Lingman Lake Property” dated December 20, 2013, prepared by Walter Hanych, P.Geo., and Frank Racicot, P.Geo., available on the Company’s SEDAR profile at www.sedar.com.

To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:

Walter Hanych
Chief Executive Officer
705.445.0184

Cautionary Notes

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 news release.

This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Click here to connect with Signature Resources Ltd. (TSXV:SGU, OTCQB:SGGTF) for an Investor Presentation.

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From:: Investing News Network

Nordic Gold Announces Approval of Mine Start-up by Finnish Mine Supervising Authority ELY

By Ashley Cowell

Nordic Gold Corp. (TSXV:NOR) (“Nordic” or the “Company”) today announced that it has received written confirmation from Finnish supervisory authority ELY, that it has provided all documentation required and that it can recommence mining and processing operations at its Finnish mining project, Laiva Gold Mine. This is the result of ongoing communications with, and environmental reporting for, the Finnish regulators in the region. Finland is rated as the top jurisdiction in the world for mining investment based on the Fraser Institute, Investment Attractiveness Index.

Mining activities started at Laiva several weeks ago in mid-August, to establish access and clear working areas. The company has been conducting three blasts a week and is stockpiling mineralised material in readiness for plant start up. At this time there are around 62,000 tonnes of mineralised material stockpiled and ready for processing. Roughly 15,000 tonnes of mineralised material has been run through the primary crusher as part of recommissioning. This mineralised material is stockpiled in the crushed material storage facility, ready for the imminent recommissioning the mills. With the approval now given by ELY, the mill and plant can now begin operating.

Michael Hepworth, President and CEO said, “This is a significant advance for the company. We are now able to operate the plant and prepare for processing. The plant is being restarted in stages with the grinding circuit now in its final stages of testing. The CIL circuits are ready to operate and will be filled as mineralised material passes through the comminution circuit. We plan to pour our first gold on 27th November.”

About the Company

Nordic was formally known as Firesteel Resources and changed it name to reflect its regional base. Nordic is a junior mining company with a near production gold mine in Finland. The mine is fully built, fully permitted and financed to production via a gold forward sale. Production is scheduled to start in the 4th quarter of 2018.

A recently released PEA was conducted by John T. Boyd Company of Denver, Colorado (“Boyd”).

Summary of the PEA results include:

Other Highlights include:

Pre-production capex $7,115,103

75,981 ounces of average annual gold production at a cash cost of $863 per ounce and AISC of $974 per ounce

Measured mineral resources of 355,000 tonnes at 1.132 g/t Au and Indicated mineral resources of 3,442,000 tonnes at 1.248 g/t Au

Inferred mineral resources of 9,030,000 tonnes at 1.531 g/t Au

Mill grade of 1.45 grams per tonne with a recovery of 90.4%

Life of Mine production of 456,600 ounces gold over a 6-year mine life

The PEA is preliminary in nature and includes Inferred Mineral Resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that PEA results will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

As previously announced, when Nordic (Firesteel) acquired the Laiva Mine, the Company was granted, EUR131,716,248 in tax loss provisions which may be used to offset future taxes should taxable income be earned in Finland prior to expiration of the tax loss carry forwards. The tax loss provisions expire between 2020 and 2028 (see the Company’s audited financial statements for the year ended January 31, 2018 for detailed disclosure of the expiration schedule). The recognition of the tax loss carry forwards have a material impact on the economic assessment of the Laiva Gold Mine project and are contingent upon the Company achieving taxable net income per Finnish tax laws.

Nordic Gold’s management has identified several opportunities outside of the scope of the mine plan studied in the PEA, which could further improve the mine plan and the economics of the project. Most important of these being the three additional 100% owned exploration properties close to the mine. Nordic is currently conducting magnetic surveys on all of the company’s properties. All three properties are fully permitted for exploration.

The report also identifies near mine targets for exploration as potentially 3.2 to 5.1 million tonnes grading at 1.25 to 1.45 grams per tonne. This estimate is based on drilling beneath the south and north pits at depths up to 250 m below surface and is open at depth. Further infill and step-out drilling is required to test these targets. Grade estimate is based on assuming the same weighted average grade of the measured, indicated and inferred resources reported in the Boyd report. The report also identifies a target in the eastern extension as potentially 0.85 to 3.2 million tonnes grading 1.25 to 1.45 grams per tonne. This estimate is based on three to five mineralized zones of 200 m to 300 m length, 50 m to 75 m vertical extent and 10 m width. Drilling has identified multiple mineralized zones up to 750 m from the north pit that extend to depths of at least 100 m. Grade estimate is based on intercepts of reconnaissance drilling and the weighted average grade of the measured, indicated and inferred resources reported in the Boyd report. The exploration targets are conceptual in nature as there has been insufficient exploration work to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The economics of the PEA do not include these exploration opportunities.

Mineral Resources:

Mineral Resources were prepared by JT Boyd (Firesteel Press Release August 21, 2017).

The effective date of the estimate is August 9, 2017.

The mineral resources presented here were estimated using a block model with a block size of 9 m by 9 m by 9 m sub-blocked to a minimum of 3 m by 3 m by 3 m using ID3 methods for grade estimation. All mineral resources are reported using an open pit gold cut-off of 0.40 g/t Au.

Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or …read more

From:: Investing News Network

Fremont Identifies Drill Targets at the North Carlin Gold Project, Nevada

By Ashley Cowell

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Fremont Gold (TSXV:FRE) (“Fremont” or the “Company”) is pleased to announce that it has identified a highly-prospective drill target at the Alkali claim block, located on the northern extension of the Carlin Trend, Nevada. A recently completed soil sampling program has identified coincident gold and mercury geochemical anomalies associated with a conspicuous magnetic anomaly (see Figures 1 to 3). Together, the data suggests the presence of gold mineralization beneath alluvial cover and represents an exciting drill target within Nevada’s most prolific gold belt.

Alkali exploration highlights:

  • Geochemical sampling has defined coincident gold and mercury soil anomalies, approximately 2 x 1 km in size, in the northeastern portion of Alkali (see Figures 2 and 3). Mercury is one of the important pathfinders for gold in both Carlin-type and low sulfidation epithermal-style deposits;
  • The gold and mercury anomalies occur on the northeastern boundary of a 1.5 x 2 km magnetic high located in the centre of the claim area (see Figure 1), which indicates a possible intrusive body at depth. Magnetic highs representing intrusive bodies contemporaneous with Carlin-type deposits are recognized at the Railroad-Pinion district in the Carlin Trend, and are also known to be associated with epithermal vein deposits at the Tuscarora deposit, 27 km to the northeast, and at the nearby Hollister deposit;
  • Alkali is located at the intersection of the northern extension of the Carlin Trend and on a northeast-trending lineament which hosts the nearby Hollister and Tuscarora mines, and farther along strike, the Jarbidge and Goldbanks mines. These current and historic epithermal deposits occur in a permissive structural corridor, which includes the Alkali NE fault (Figures 1-4) that cuts directly through the magnetic high and soil geochemical anomaly at Alkali.

The soil geochemistry, magnetic data and geological structures transecting Alkali suggest the presence of gold mineralization beneath alluvial cover.

Clay Newton, Vice President Exploration of Fremont stated, “We are excited by the recent exploration results from Alkali. Soil geochemical anomalies located at the intersection of the NE fault zone with two other fault trends suggest the presence of gold mineralization concealed beneath shallow alluvial cover. As mentioned, Alkali is located on a NE-trending fault zone that projects through the nearby Hollister and Tuscarora mine areas and more distant deposits such as Jarbidge, Marigold and Goldbank, all of which are low-sulfidation epithermal deposits. However, Alkali also lies on the northern extension of the Carlin Trend and is, therefore, prospective for various types of gold deposits, not just low sulfidation epithermal gold deposits such as the nearby Hollister mine, but also Carlin-type sediment-hosted deposits like the neighbouring Rossi and Goldstrike mines, or even copper-gold skarn deposits such as Newmont’s Phoenix mine. The combination of mutually supportive structural, geochemical and geophysical lines of evidence comprise a compelling story for follow-up exploration and drilling.”

Blaine Monaghan, Fremont’s CEO, added, “Like Clay, I am very excited by these exploration results. Freemont has identified an excellent, untested drill target in one of the world’s most prolific gold districts. I look forward to advancing Alkali to the drilling stage.”

Explanation of attached figures

Figure 1 shows the ground magnetic high, possibly representing a shallow intrusive body. Figures 2 and 3 show the gold and mercury plots, respectively, of the ionic leach soil survey data over the central portion of Alkali. Mercury and gold are two of the most important pathfinder elements for gold in either Carlin-type or low sulfidation epithermal deposits.

Figure 4 displays the Coyote and Alkali claim blocks with respect to the northern part of the Carlin Trend with the locations of major Carlin-type deposits and nearby epithermal vein deposits along the Alkali NE fault.

Figure 1: Magnetic anomaly

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3169/40299_a1539219148431_60.jpg

Figure 2: Gold in soils anomaly

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Figure 3: Mercury in soils anomaly

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Figure 4: Northern Carlin Trend

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North Carlin overview

Alkali makes up the northern portion of a 3-block claim package located on the northern end of Nevada’s most famous mineral belt. The two larger claim blocks, Alkali and Coyote, along with the smaller 100 ha Rossi North claim block, are collectively called the North Carlin Project, which comprises over 42.5 km2 and 509 claims. Geochemical and ground magnetometer results for Coyote were announced in a press release dated July 19, 2018. As shown in Figure 4, the locations of the Carlin deposits south of Coyote display a regular spacing of approximately three kilometres apart along a north-south trend, which would make Coyote the next “bead on the string” in terms of periodicity and alignment. This observed periodicity along with gold and pathfinder element soil anomalies, associated with subtle magnetic lows at Coyote, indicates possible gold mineralization at depth. Mapping at Coyote has found broad areas of chalcedonic breccias and siliceous alteration in a northeast trending zone parallel to the nearby Rossi deposit. This type of alteration is frequently associated with concealed gold mineralization in the Carlin Trend.

Description of methodology

Ground magnetic surveys were conducted in-house with a Geometrics G-857 proton precession magnetometer with readings at 35-metre intervals along E-W lines 300 metres apart and several N-S tie lines. Total magnetic intensity data were gridded by a minimum curvature method and reduced to pole.

Soil samples were taken at 120-metre intervals along N-S lines 300 metres apart. The samples were analyzed by the ionic leach method of ALS Global analytical laboratory in Vancouver, BC, Canada. The data presented in this news release were smoothed by using a 3-point moving average along the soil lines and gridded by a kriging method.

Dig Media Inc.

The Company has retained Dig Media Inc. (doing business as Investing News Network, “INN”) to provide an advertising and investor awareness campaign to the Company. INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007. The agreement …read more

From:: Investing News Network

Deer Horn Capital Signs Purchase Option LOI on Former First Solar, Inc. Tellurium Property

By Ashley Cowell

Deer Horn Capital (CSE:DHC) (the “Company” or“Deer Horn”), reports the Company has signed a binding Letter of Intent (LOI) with Colorado Klondike LLC to acquire a purchase option on the Colorado Klondike tellurium property located in south-central Colorado, USA. The Colorado Klondike property is a tellurium prospect held previously by First Solar Inc. as a potential primary source of tellurium for the company’s cadmium-telluride (CdTe) solar panels. Colorado Klondike LLC, operated by former First Solar management, acquired the property in 2013 after First Solar terminated its worldwide raw materials exploration program.

The Colorado Geological Survey (CGS), in partnership with the Colorado School of Mines, reported on work performed by First Solar on the Colorado Klondike property in the 2015 Colorado Mineral and Energy Industry Activities 2014-2015 publication. In particular, the CGS noted:

“Surface sampling by First Solar, Inc. in 2006 found very high tellurium grades of up to 3.3% (33,000 ppm), along with locally high gold grades. Tellurium occurs principally as the native element and as altaite, a lead-telluride mineral. First Solar is the world’s largest manufacturer of thin-film solar modules and tellurium is a critical element in the photovoltaic material. Tellurium grades at Klondike were the highest encountered in the company’s nationwide exploration program. First Solar acquired the land in 2010 and began systematic exploration including geophysical investigations. However, the company discontinued their tellurium development program in early 2012 and sold the property to Colorado Klondike LLC.”

Surface samples such as these are preliminary in nature and not conclusive evidence of the likelihood of a mineral deposit.

“We’re very happy to be expanding our tellurium property portfolio at a time when technology is discovering important new applications for the metal,” said Deer Horn president and CEO Tyrone Docherty. “It’s also important that Colorado Klondike gives us an asset that can be explored for most of the year.”

First Solar also conducted geophysics, drill program planning and permitting on the Colorado Property, preparing for an extensive exploration program before selling the property to Colorado Klondike LLC.

Easily Accessible with Mostly Year-Round Exploration
The Colorado Klondike property is located 10 miles (16 km) from the small town of Saguache and is easily accessible via paved and gravel roads. It is situated on the lower, south-facing slopes of the Cochetopa Hills on the northwest margin of the semi-arid San Luis Valley. Although the average elevation is 9300 ft (2835 m), the area receives just 40-50 inches (100-150 cm) of snow in a typical winter due to its sheltered position east of the Continental Divide. Annual precipitation averages 12-14 inches (30-36 cm). Most exploration work can be performed year-round.

Deer Horn is conducting further due diligence on the property in anticipation of signing a full agreement later in the year.

For more information, please visit www.deerhorncapital.ca, or download the Deer Horn Fact Sheet.

On behalf of the board of directors of
Deer Horn Capital Inc.

“Tyrone Docherty”
Tyrone Docherty
President and CEO

For further information please contact:

Tyrone Docherty
604.789.5653
tyrone@deerhorncapital.ca

Investor Relations, Craig Doctor
(604) 278-4656
craig@docsconsultingltd.com

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Click here to connect with Deer Horn Capital (CSE:DHC) for an Investor Presentation.

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Pacton Gold Expands Ground Position in Egina Area Through Acquisition of Hong Kong Project

By Ashley Cowell

Figure 1: Pacton Regional Project Location Plan (CNW Group/Pacton Gold Inc.)

Pacton Gold (TSXV:PAC; US:PACXF) (the “Company” or “Pacton”) is pleased to announce that it has entered into a binding letter of intent (“LOI”) to acquire a 70% equity interest in the Hong Kong project (the “Hong Kong Project”) from Clancy Exploration Ltd (“Clancy”), an Australian Securities Exchange Listed exploration company.

Figure 1: Pacton Regional Project Location Plan (CNW Group/Pacton Gold Inc.)
Figure 2: Pacton Egina Region Tenure inclusive of Hong Kong Project (CNW Group/Pacton Gold Inc.)
Figure 2: Pacton Egina Region Tenure inclusive of Hong Kong Project (CNW Group/Pacton Gold Inc.)

The acquisition of this strategic exploration license adjoining Pacton’s Friendly Creek and Golden Palms projects provides a considerable land holding in what is emerging to be the primary focus of conglomerate gold exploration in the region. Over 5 km of strike of the lower Fortescue Group lithologies have been mapped within the Hong Kong Project and notable historical alluvial gold mines are located within these formations. In addition, structurally controlled, greenstone hosted gold mineralisation has been historically mined across the Hong Kong Project.

Highlights of the Transaction:

  • The Hong Kong Project consists of a single granted exploration license covering 40.15 km2 and directly adjoins the Friendly Creek and Golden Palms projects held by Pacton.
  • Over 5 km of strike of the contact between Hardey Formation and Mount Roe Basalt occurs within the Hong Kong Project. Notable alluvial gold workings occur along the base of the Mount Roe Basalt.
  • Multiple structurally controlled, greenstone hosted gold workings occur throughout the Hong Kong Project.
  • Consolidated ground holding within the Egina Area offers the capacity for Pacton to undertake an extensive systematic approach to determining the conglomerate and structurally controlled gold mineralisation potential of the region.
  • Egina Area is emerging as the focal point of conglomerate gold exploration in the Pilbara and Pacton aims to capitalise on its substantial ground holding inclusive of granted mining leases to rapidly evaluate the development potential of its portfolio.

“The acquisition of the Hong Kong Project provides a considerable holding of contiguous tenure within the emerging focal point of conglomerate exploration in the region. Through the process of evaluating the extensive portfolio held by Pacton in the Pilbara region, we are further appreciating the significance of the association between the primary shear hosted and conglomerate styles of gold mineralisation in the region,” commented Alec Pismiris, Interim President and CEO of Pacton Gold. “We look forward to working closely with Clancy to explore the Hong Kong Project as part of our broader Egina Area development strategy.”

For location map of the Property, please see: http://www.pactongold.com/Pacton-Location-Map.jpg.

LOI Terms

Under the terms of the LOI, which will be formalized by a definitive agreement among the parties, the Company can purchase a 70% equity interest in the Hong Kong Project by paying Clancy CDN$175,000 and issuing to Clancy 3,797,470 common shares of the Company.

Upon completion of the acquisition, Pacton and Clancy will enter into a joint venture, with Pacton acting as operator of the Hong Kong Project. A minimum of CDN$500,000 must be spent by Pacton within two years of completion of the transaction. Clancy will be free carried with respect to expenditures until a decision to mine is made unanimously by both parties.

A finder’s fee will be payable to Geonomics Australia Pty Ltd. in respect of the transaction as permitted by the policies of the TSX Venture Exchange.

This transaction is subject to the acceptance of the TSX Venture Exchange.

About Pacton Gold

Pacton Gold (PAC: TSXV; PACXF: US) is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia.

The technical content of this news release has been reviewed and approved Peter Caldbick, P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.

On Behalf of the Board of Pacton Gold Inc.

Alec Pismiris
Interim President & CEO

This news release contains or refers to forward-looking information based on current expectations, including, but not limited to the Company acquiring an interest in the Hong Kong Project and completion of the proposed transaction described herein, the prospect of the Company achieving success in exploring the Hong Kong Project and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.

Click here to connect with Pacton Gold (TSXV:PAC; US:PACXF) for an Investor Presentation.

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From:: Investing News Network

Pancon Partners with Flying Post First Nation on Montcalm, Gambler and Nova Projects

By Ashley Cowell

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Pancontinental Resources Corporation (TSXV:PUC) (“Pancon” or the “Company”) is pleased to announce its signing of a Memorandum of Understanding (MOU), effective October 1, 2018, with the Flying Post First Nation (FPFN) in northern Ontario. The FPFN-Pancon MOU provides a mutually beneficial framework for cooperation on the Company’s three battery metals exploration projects, located 65 kilometres northwest of Timmins: the Montcalm Project, the Gambler Project, and the Nova Project.

Murray Ray, Chief of Flying Post First Nation stated: “Flying Post is pleased with the signing of the MOU. The agreement outlines a process for mutual engagement throughout the exploration phase. Flying Post believes that exploration activities should be done in a manner that is respectful of traditional and treaty rights and the environment, and provide employment and business opportunities. The signing of this MOU is a promising first step in establishing a meaningful relationship with Pancon.”

Layton Croft, Pancon President and CEO, stated: “We look forward to a productive, long-term relationship with the Flying Post First Nation as we advance our Montcalm, Gambler and Nova projects near Timmins. This MOU is a tangible example of Pancon’s Community Relations Policy, which affirms our Company’s belief that minerals exploration and mining — in addition to creating value for shareholders — can and should be a positive catalyst for environmental stewardship, economic development, and social responsibility. We conduct our business activities in pursuit of these outcomes, and to create shared value with First Nations, host communities and other stakeholder groups.”

The objectives of the FPFN-Pancon MOU are:

  • to establish a mutually beneficial, cooperative and productive relationship through which Pancon recognizes and agrees to respect the aboriginal rights and treaty rights of FPFN while engaged in the exploration activities and operation of the Project;
  • to provide a process through which Pancon can consult with and accommodate the interests of the FPFN as outlined herein with a view to reconciling any competing interests at stake;
  • to establish a relationship through which the FPFN can identify opportunities for its businesses and citizens to participate in Pancon’s exploration activities and operations;
  • to provide Pancon with evidence for its stakeholders and the Ontario Ministry of Energy, Northern Development and Mines that FPFN and Pancon intend to work together in a spirit of cooperation for mutual benefit as well as social, ecological, cultural and economic well-being;
  • to set out the objectives, process and topics for negotiations of an Impact Benefit Agreement between FPFN and Pancon; and
  • to come to a negotiated settlement of financial compensation for exploration activities.

The MOU emphasizes the prioritization of business opportunities, employment and training opportunities for FPFN businesses and individuals. Pancon will provide capacity funding to compensate for impacts caused by on-the-ground exploration activities. Pancon will grant 50,000 option to FPFN at an exercise price of $0.06, subject to approval of the TSX Venture Exchange, with all of the options to vest on the approval of the TSX Venture Exchange. Pancon will also grant 50,000 shares to FPFN, subject to approval of the TSX Venture Exchange. The MOU also describes the process of negotiating and implementing a subsequent Impact Benefits Agreement (IBA), which would take effect once any of the three Projects has completed a Feasibility Study.

Figure 1: Left to Right: Pancon’s President &CEO Layton Croft, Chief Murray Ray from Flying Post First Nation; Kevin Filo, Project Manager for Montcalm, Gambler & Nova Projects & Stephanie LaBelle, Mineral Development Advisor for Wabun Tribal Council

To view an enhanced version of Figure 1, please visit:
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About Flying Post First Nation

Flying Post First Nation is signatory to Treaty 9. Flying Post’s reserve lands are located northwest of Timmins, along the Ground Hog River, about an hour north of Malette Road just outside the city. Flying Post was formerly an independent First Nation in the Nishnawbe-Aski Nation (NAN) and joined the Wabun Tribal Council in 2007. Flying Post is an Ojibwe community whose priorities include encouraging its members to pursue educational and professional ambitions and to create a sustainable economy that will create prosperity for future generations

About Pancontinental Resources Corporation

Pancontinental Resources Corporation (TSXV: PUC) is a Canadian-based mining company focused on four nickel-cobalt-copper projects in Ontario — three early stage projects near Timmins: Montcalm Project, Gambler Project, and Nova Project; and the advanced stage McBride Project near Bancroft. Pancon’s mission is to generate value through responsible exploration, focusing on prospective assets in proximity to producing or former mines areas and/or with existing resources. The Company also holds a 100% interest in the Jefferson Gold Project in South Carolina, USA. In 2015, Pancon sold its interest in its Australian rare earth element (REE) and uranium properties, formerly held through a joint venture, and retains a 1% gross overriding royalty on 100% of future REE production.

For further information, please contact:

Layton Croft, President & CEO or Jeanny So, Manager, External Relations
E: info@panconresources.com
T: +1.416.293.8437

For additional information please visit our new website at www.panconresources.com and our Twitter feed: @PanconResources.

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 Language and Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking …read more

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Aethon Minerals Announces Drill Results from the Llanos Project in Chile

By Scott Tibballs

gold outlook free report

Aethon Minerals (TSXV:AET) has announced drill results from the company’s initial eight hole drill program at the Llanos De Llahuin project, located approximately 250 km north of Santiago in Chile.

The company said that the 2018 maiden drill program at Llanos consists of eight diamond drill holes totaling 1,417 metres. The shallow drilling program tested 700 metres of strike length to depths of up to 200 metres below surface. All of the drill holes targeted in the alteration zone were successful in intersecting copper and gold mineralization related to quartz veining over narrow thicknesses within a broad (up to 300 metres wide) zone of intense alteration.

As highlighted in the press release:

  • Initial shallow drill program at Llanos intersects copper mineralization with gold credits, including: 4m of 1.44 percent copper with 0.10 grams per tonne (g/t) gold, 2m of 1.23 percent copper with 0.04g/t gold, 4m of 0.94 percent copper with 0.38g/t gold, 2m of 1.25 percent copper with 0.38g/t gold
  • The drilling intersected pervasive, disseminated pyrite mineralization within the quartz-chlorite-sericite alteration zone, which could grade downwards into a potassic alteration zone with associated, higher grade copper-gold mineralization.
  • A suite of core samples has been submitted for petrographic study to determine the possibility of a deeper copper-gold mineralized porphyry system.

Click here to read the full Aethon Minerals (TSXV:AET) press release.


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From:: Investing News Network

Bonterra Provides Corporate Update on its Urban Barry Projects

By Hailey Wahlberg

Bonterra Resources Inc. (TSXV:BTR, OTCQX:BONXF, FSE:9BR1) (the “Company” or “Bonterra”) is pleased to provide a corporate update following the completion of the acquisition of Metanor Resources Inc. and plans to develop the exploration and mining assets in the Urban Barry. With the recent consolidation of mill, mine, pre-production and exploration assets, Bonterra intends to accelerate development of the Gladiator, Moroy and Barry deposits, while expanding the capacity of the Urban Barry Mill.

The Urban Barry Mill is the only permitted mill in the region, with more than 15 high-grade gold deposits within a 110 km radius of the mill site. The mill is accessible by a paved highway with a network of logging roads linking the other properties in the area to feed the mill. Bonterra will undertake a mill expansion project in order to increase the production capacity of the Urban Barry mill from 1,200 tpd to 2,400 tpd. Construction on the mill expansion is expected to be completed in 2019, allowing a shortened timeline to production for the Barry, Moroy and Gladiator deposits.

The Barry Deposit is permitted for initial mine development access and bulk sampling, with decline and cross cut development currently underway. Recent drilling has resulted in the expansion of high-grade areas down plunge at each known strike extent. Bonterra expects to rapidly increase the size of the Barry Deposit especially at depth, given that very little drilling has previously taken place below 300 meters depth over a one km strike length. An updated mineral resource estimate is expected for Q4 2018.

The Moroy Deposit is a recent discovery at the Urban Barry Mill property with access via the Bachelor Lake Mine. Current development consists of three sub-drifts and a series of raises, accessed from the 11th level at Bachelor Lake. Extensive drill information exists from surface as well as from the 11th level to a depth of approximately 2,000 feet, effectively resulting in the existence of two unmined parallel mineralized zones that have not as of yet been quantified. Exploration and development continue at the Moroy deposit with a mineral resource estimate planned to be completed early in 2019.

Bonterra will update the mineral resource estimate at the Gladiator Deposit over the next month. The Company is initiating permitting in order to develop a decline and complete a bulk sample at the deposit over the next year. With significant exploration potential for expansion, drilling will continue at the deposit, which remains open in all directions. Bonterra recently discovered a new high-grade gold zone 200 m to the north of the deposit with 27.4 g/t Au over 7.0 m(see Bonterra news release dated September 19, 2018). The recent option agreement with Beaufield Resources on the Duke property has allowed for larger step out drilling at the deposit. Other showings and mineralized zones are also being prioritized for upcoming drilling including the Two Lions Zone and the Moss showings.

Please see http://www.bonterraresources.com/_resources/corporate-presentation.pdf for the Company’s updated corporate presentation.

Bonterra Resources Quick Facts:

  • Control of three advanced high-grade gold deposits (Gladiator, Moroy, Barry) and significant regional targets
  • 100% ownership of the Urban-Barry Mill, the only permitted gold mill in the region
  • Strong shareholder base including: Eric Sprott and Kirkland Lake Gold
  • New NI 43-101 Mineral Resource Estimate anticipated in 2018 for the Gladiator and Barry Deposits

Robert Gagnon, P.Geo., has approved the information contained in this release. Mr. Gagnon is a director of Bonterra and is a Qualified Person as defined by NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS,

Nav Dhaliwal, President & CEO
Bonterra Resources Inc.

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.

This press release contains “forward-looking information” that is based on Bonterra’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Bonterra’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. Bonterra disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE Bonterra Resources Inc.

Click here to connect with Bonterra Resources Inc. (TSXV:BTR, OTCQX:BONXF, FSE:9BR1) for an Investor Presentation.

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From:: Investing News Network

Telson Closes $6.8 Million Oversubscribed Financing at 39% Premium to Market

By Ashley Cowell

Telson Mining Corporation (TSXV:TSN, OTCBB:SOHFF) (“Telson” or the “Company”) (formerly SQ82)) is pleased to announce that it has closed its non-brokered private placement financing (the “Private Placement”) consisting of 9,124,805 Units of the Company at a price of $0.75 per Unit for gross proceeds of $6,843,603.

The financing was originally announced in a press release dated September 26, 2018 and was closed over-subscribed by 458,138 units representing an additional $343,604.

Each Unit of the Private Placement consists of one Common Share and one half of one transferable Common Share purchase warrant. Each whole purchase warrant entitles the holder thereof to acquire one Common Share of the Company at a price of $1.25 for a period of two years following the closing of the Private Placement. All Common Shares issued in connection with the Private Placement are subject to a four month plus one day hold period under applicable Canadian securities laws. No finder’s fees were paid in connection with the Private Placement. The total issued and outstanding Common Shares of the Company after completion of the Private Placement is 139,559,153.

The Private Placement included four insiders of the Company subscribing for a total of 8,008,755 Units for aggregate subscription proceeds of $6,006,566. That portion of the Private Placement is a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). In addition, one of the insiders is a significant shareholder with a control position in the Company, for which the Company previously received shareholder consent in late 2015, in accordance with TSXV policy. The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61-101. The Company is exempt from the formal valuation and minority approval requirements of MI 61-101 in reliance of sections 5.5(b) and 5.7(1)(a), as the fair market value of the Private Placement, insofar as it involves related parties, is not more than 25% of the Company’s market capitalization.

The net proceeds from Private Placement will be used by the Company to cover the Company’s requirement to contribute funding to the Tahuehueto Mine’s construction rehabilitation and operation under its loan agreement with Trafigura Mexico, S.A. de C.V., and for general working capital purposes.

Closing of this Private Placement also qualifies the Company to request a second tranche from its loan agreement with Trafigura for up to US$5 million, which when combined with the proceeds from the Private Placement, is estimated to be sufficient capital to complete the construction of the Tahuehueto Mine, targeted for completion during the first quarter of 2019.

Antonio Berlanga, CEO states “We are thrilled to complete this financing on behalf of Telson’s shareholders. This above market priced financing, largely subscribed to by insiders’ of the Company, clearly demonstrates management and insider’s commitment to our shareholders by avoiding discounted market priced dilutive financings while securing the necessary funding to complete the Tahuehueto Mine construction”.

About Telson Mining Corporation

Telson Mining Corporation is a Canadian based mining company with two Mexican gold, silver and base metal mining projects. Telson is currently in commercial production at its 100% owned Campo Morado Mine in Guerrero, Mexico and is producing zinc and lead concentrates with gold, silver and copper as by-products, processing an average of approximately 2,000+ tpd.

Telson’s 100% owned Tahuehueto Project, located in north-western Durango State, Mexico is currently in construction development. Pre-production at Tahuehueto is currently mining at a rate averaging 190 tonnes per day in Sept 2018. Management estimates Tahuehueto to be producing gold, silver, lead, zinc and copper with its own on-site mineral processing plant, with a capacity of at least 1,000 tpd, during the first quarter of 2019.

Visit: www.telsonmining.com

On behalf of the board of directors

(signed) “Ralph Shearing”

Ralph Shearing, P.Geol, President and Director

Qualified Persons

This press release was prepared under the supervision and review of Ralph Shearing, P.Geol., President and Director of Telson Mining Corporation, a Professional Geologist registered in Alberta as a member of the professional association APEGA, and a Qualified Person as defined by NI 43-101. Data verification by Mr. Shearing includes personal inspection of the Campo Morado and Tahuehueto mine sites, reviewing mining facilities, drill core, underground development and discussing work programs and results with geology and mining personnel.

Cautionary Note Regarding Production Decisions and Forward-Looking Statements

It should be noted that Telson has declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Telson’s production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study was completed and relied upon to make a production decision. Telson has completed a preliminary economic assessment (“PEA”) mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see News Release dated November 8, 2017 and April 4, 2018). This will soon be replaced by a pre-feasibility study (“PFS”) that will allow the application of modifying factors to the mineral resources to allow a portion of them to be converted to mineral reserves. At Tahuehueto, Telson is mining reserves supported by a pre-feasibility published early 2017.

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward- looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company’s properties, such as production rates and increases; success of exploration, development and bulk sample processingactivities and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified by the use of …read more

From:: Investing News Network