Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey" or the "Company") is pleased to announce that it has entered into an agreement (the " Agreement ") to acquire all of the shares of Lithium Energy Metal Corporation (" LEM "), which owns the following four (4) projects in the James Bay Region of Quebec:
On and subject to the conditions set forth in the Agreement, in consideration for the Acquisition, the Company will issue an aggregate of 8,900,000 common shares to the shareholders of LEM (collectively).
Closing of the Acquisition is subject to the Company being satisfied with its due diligence review, as well as certain customary conditions, including receipt of all necessary regulatory and other approvals.
The technical and scientific information contained within this news release has been reviewed and approved by Robert Lane, MSc., P.Geo., who is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II and Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to with respect to the Acquisition and the Company's business and plans, including with respect to undertaking further acquisitions . The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. 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 unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
News Provided by GlobeNewswire via QuoteMedia
Argentina and lithium mining go hand-in-hand. The South American nation is one of three encompassed in the prolific Lithium Triangle, a region that holds more than half of the world’s lithium deposits. With demand for lithium on the rise, Argentina’s advantageous positioning as the host of the world’s third-largest lithium reserves presents a world-class mining opportunity.
Market researchers project the global lithium market to spike to US$8.24 billion in 2027. The international drive to produce sustainable alternatives for transportation through the adoption of electric vehicles and greener power makes Argentina an especially unique location for high yield lithium mining across the country’s famous lithium salars.
Spey Resources (CSE:SPEY,OTCQB:SPEYF,FSE:2JS) is a Canadian mineral exploration company focused on addressing the demand for lithium as a natural resource to fuel the future. The company holds an option to acquire 100 percent interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina and an option to acquire a 100 percent undivided interest in the Silver Basin project and Kaslo silver project in British Columbia.
The Candela II project or “Incahuasi project,” hosts two major aquifers located with 145ppm lithium and strong brine flow. In July 2021, Spey Resources announced it had accepted a quotation from Amaru Mining Services and made preparations to commence drilling at the Incahuasi Salar, Argentina within a few weeks. This exciting chapter in the exploration of the Candela II project includes up to four exploration wells and expansive testing, drilling and pilot plant construction.
The short-term next steps for the company include utilizing drawdown funding for C$15 million for a large pilot plant with an estimated 100-ton capacity. The company plans to complete a US175 million funding and US$60 million in drawdowns to construct the plant over 18 months. This pilot plant could see full production in 2.5 years.
Spey Resources continues to advance its goals of meeting lithium demand with its recent option agreement to acquire a 100 percent interest in the Pocitos I and II claims from AIS Resources in Salta, Argentina. The property has strategic positioning near high yield lithium projects and leverages excellent infrastructure, including gas, electricity and road access.
The company’s major silver projects in British Columbia offer excellent exposure to the precious metals and silver markets and boast exceptional positioning in a politically stable, mineral-rich and mining-friendly jurisdiction. The Silver Basin gold-silver property leverages close proximity to the historic Silver Cup mining camp and Kaslo Silver hosts diverse deposits of silver-lead-zinc, making it an exceptional exploration prospect.
Spey Resources has a highly experienced management and technical exploration team with over a century of professional expertise in the resource, finance and energy sectors. This results-oriented team and their vested interest in company success prime Spey for exceptional discovery potential and advanced development of its lithium and precious metal projects.
The Incahuasi Salar project is located approximately 45 kilometers from the township of Tolar Grande in Salta, Argentina. The project leverages close proximity to major lithium players and famous lithium salars such as Arizaro,(Next View Energy), Pocitos, Rincon, Pozelous, Pular, Cauchari and Oloroz.
Incahuasi Salar has seen significant exploration with completed VTEM geophysics showing low aquifers with potassium, magnesium and lithium brines. Likewise, drill hole data shows lithium brines are close to the surface with sample analysis revealing lithium values from 250-400ppm. Exploration has been aided by accessible roadways and minimal human disruption in the area.
The next steps for the project include additional geophysics, testing and drilling to conform to resource sizing. Spey Resources intends to build a camp to aid its operations and construct its pilot plant, which could see full production in January 2023.
The Kaslo silver property consists of 13 claims and 13 crown grants covering a total area of 3,238.9 hectares along Keen Creek, 12 Kilometres west of Kaslo in the Slocan Mining Division of southern British Columbia, Canada. Spey Resources has the right to earn an undivided 100 percent interest in and to the property, which is subject to a 2.5 percent net smelter return royalty.
Historic mining production boasts a reported average grade of 70.3g/t silver, 3.05 percent lead and 4.72 percent zinc. The property uniquely hosts faulting, shearing and intrusive activities across deposits of silver-lead-zinc. Despite its rugged terrain, Kaslo leverages accessible roadways, nearby communities and utility networks.
Recent work includes geochemical sampling, prospecting, ground and airborne geophysical survey, geological mapping, excavator trenching and diamond drilling. In 2018, Tay Resources collected a total of 12 rock samples, which helped Spey advance its exploration and targeting for the highly prospective project.
The Silver Basin gold-silver property is located in the Columbia Mountains near Trout Lake in the West Kootenay region of British Columbia. The property covers the southern part of the historic Silver Cup Mining Camp in the Lardeau District of the Revelstoke Mining Division. The mineral claims that comprise the property cover 2,268 hectares of ground and touch an eight-kilometer length of axial trace that hosts past-producing mines.
In 2020, Spey Resources conducted mineralization sampling from the IXL, Morning Star, Chance, Foggy Day, Bonanza, Butte and Gallant Boy workings as well as a number of other prospects on the property. The next steps for the project include sample analysis to determine targeting and further exploration.
Nader Vatanchi has spent the last nine years in finance, starting with Edward Jones and IG Wealth Management in 2012 where he spent a combined six years before selling his business to pursue his entrepreneurial goals.
Vatanchi graduated with a Bachelor of Arts in Criminology from Simon Fraser University. Currently, he serves as CEO of Musk Metals Corp. (CSE:MUSK), CEO of Forty Pillars Mining Corp., and CFO of Triangle Industries Ltd., a reporting issuer.
Abbey Abdiye has extensive experience in the financial sector in both public and private companies. He is a chartered professional accountant (CPA) and CFO of other reporting issuers, where he was responsible for all financial, fiscal management, regulatory compliance matters and reporting aspects of company operations. He also provided strategic guidance and direction in capital structuring and engaged in an innovative financing program that leveraged sales and development.
At Spey, Abdiye will provide leadership and coordination in the administrative, business planning, reporting and budgeting efforts of the company. He will oversee the company’s financial reporting, internal controls, corporate governance management systems, annual audit and regulatory compliance matters. He obtained a Bachelor of business administration degree from Simon Fraser University and a co-op education certificate.
Ian Graham is a mining professional with over 28 years of experience in the technical characterization and financing of mineral deposit exploration and development. His 20 years with the major mining companies Anglo American and Rio Tinto has been followed by experience in founding and financing public companies in the minerals sector.
In his roles with both the major and junior companies, Graham has been involved with exploration for mineral deposits, from targeting through discovery and the delineation to the feasibility of projects. He has experience with the modelling of project economics (DCF) and the structuring of project and company financing. Graham’s project roles have taken him to southern Africa, Canada, the US, India, Russia and Latin America; as the chief geologist with the Project Generation Group at Rio Tinto, his focus was global.
Ian Graham is a mining professional with over 28 years of experience in the technical characterization and financing of mineral deposit exploration and development. His 20 years with the major mining companies Anglo American and Rio Tinto has been followed by experience in founding and financing public companies in the minerals sector.
In his roles with both the major and junior companies, Graham has been involved with exploration for mineral deposits, from targeting through discovery and the delineation to the feasibility of projects. He has experience with the modelling of project economics (DCF) and the structuring of project and company financing. Graham’s project roles have taken him to southern Africa, Canada, the US, India, Russia and Latin America; as the chief geologist with the Project Generation Group at Rio Tinto, his focus was global.
Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") is pleased to announce, further to its news release dated September 7, 2022, that it has closed its non-brokered private placement (the "Offering "), having issued 22,141,496 units (each a "Unit ") at a price of $0.175 per Unit, for gross proceeds of $3,874,761.80.
Each Unit is comprised of one common share of the Company (a " Share ") and one-half of one common share purchase warrant (each whole warrant, a " Warrant "), with each Warrant entitling the holder to acquire one Share at a price of $0.35 until September 16, 2024, provided that if the volume weighted average trading price of the Shares on the Canadian Securities Exchange (" CSE ") is at a price greater than $0.70 for 10 consecutive trading days, then the expiry date of the Warrants shall automatically accelerate to the date that is 30 days after the date that notice of such acceleration is provided to the Warrant holders.
In connection with the Offering, the Company also paid finders fees in the aggregate of $145,580.75 in cash and 760,490 non-transferable broker warrants (a " Broker Warrant "). Each Broker Warrant is exercisable into one Share at an exercise price of $0.35 until September 16, 2024, provided that if the volume weighted average trading price of the Shares on the CSE is at a price greater than $0.70 for 10 consecutive trading days, then the expiry date of the Warrants shall automatically accelerate to the date that is 30 days after the date that notice of such acceleration is provided to the Broker Warrant holders.
The Company intends to use the net proceeds raised from the Offering for funding the drilling of its projects, property payments and general working capital.
All securities issued in the Offering are subject to a statutory four month hold period in accordance with the policies of the CSE and applicable securities laws.
None of the securities to be issued in the Offering have been or will be registered under the United States Securities Act of 1933, as amended (the " 1933 Act "), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II and Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the planned use of proceeds . The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. 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 unless required by law.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
News Provided by GlobeNewswire via QuoteMedia
Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company "), is pleased to announce that it intends to complete a non-brokered private placement consisting of units of the Company at a price of $0.175 per unit (the " Unit ") for aggregate gross proceeds of up to C$2,750,000, with each Unit comprised of one common share of the Company (each, a " Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "), with each whole Warrant entitling the holder to acquire one (1) Share (each, a " Warrant Share ") at a price of C$0.35 per Warrant Share for a period of twenty-four (24) months, provided that if the volume weighted average trading price of the Shares on the Canadian Securities Exchange (" CSE ") is at a price greater than $0.70 per Share for ten (10) consecutive trading days, then the expiry date of the Warrants shall automatically accelerate and will expire on the date that is thirty (30) days after the date that notice of such acceleration is provided to the Warrant holders by way of press release (the " Offering ").
The Company intends to use the net proceeds raised from the Offering for funding exploration drilling and five hole drill program at the Company's projects, property payments and general working capital.
All securities issued in the Offering will be subject to a statutory four month hold period. Closing of the Offering is subject to receipt of all regulatory approvals, including approval of the CSE. The Offering is expected to close on or about September 12, 2022.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Company also intends to issue approximately 2,500,000 Shares to various creditors to settle outstanding indebtedness.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II and Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the Offering, including the total proceeds, use of proceeds, and the closing (including the proposed closing date) of the Offering . The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. 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 unless required by law.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
News Provided by GlobeNewswire via QuoteMedia
Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company "), is pleased to announce the achievement of certain development milestones and planned future activities regarding the Incahuasi Salar property and Pocitos Salar property, respectively.
Nader Vatanchi, CEO of Spey, commented: "We have made progress with our flagship project in the Incahuasi Salar and Pocitos over the last year despite the challenges we faced. We thank our loyal shareholders for their support and patience during the difficult times. Over the coming months, we will continue working to advance our lithium projects with the goal of maximizing shareholder value."
The scientific and technical content of this news release has been reviewed and approved by Phillip Thomas, BSc. Geol, MBM, FAusIMM, MAIG, MAIMVA(CMV), who is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101 ").
Scientific and technical information relating to the Incahuasi Salar property is supported by the technical report titled " Technical Report for the Incahuasi Salar Lithium Concession, Salta Province, Argentina ", dated June 10, 2022 (the " Technical Report "), and prepared by Michael J. Rosko for Spey. Reference should be made to the full text of the Technical Report, which was prepared in accordance with NI 43-101 and is available electronically on SEDAR ( www.sedar.com ) under the Company's issuer profile, for a description of the Company's data verification and QA/QC procedures.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including, but not limited to, with respect to the Company acquiring the remaining 20% interest in Candella II project, completing a production drill hole program at the Candella II project, lodging a work plan for the drilling program at Incahuasi , computing mineral resource estimates, and generally advancing the Company's projects. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. 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 unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
News Provided by GlobeNewswire via QuoteMedia
Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") announces that the British Columbia Securities Commission (the " Commission ") has revoked the cease trade order which was issued against the Company, effective August 12, 2022 (please see press release dated August 31, 2021), in connection with certain continuous disclosure deficiencies. The Company filed various rectifying continuous disclosure documents on August 8, 2022, which documents are available via SEDAR at www.sedar.com .
The Company expects that its common shares will resume trading on the Canadian Securities Exchange (the " CSE ") on or about August 15, 2022.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release, including without limitation, the date that the Company's common shares are expected to resume trading on the CSE, are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, without limitation, regulatory, legislative, environmental and other judicial or political developments, and operational difficulties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this press release.
News Provided by GlobeNewswire via QuoteMedia
Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") announces that as a result of a review by the British Columbia Securities Commission (" BCSC "), we are issuing the following press release to clarify our disclosure.
The Company has been subject to a continuous disclosure review with the BCSC as a result of a cease trade order imposed on August 27, 2021 for failure of the Company to file certain disclosure documents regarding its acquisition of Tech One Lithium Resources Corp. (" Tech One ") (please see the Company's news release dated April 26, 2021).
Amended and Restated Interim Financial Statements
The Company has amended and restated its (1) interim financial statements for the period from incorporation on March 11, 2021 to May 31, 2021 and (2) interim financial statements for the period from incorporation on March 11, 2021 to August 31, 2021 to account for the acquisition of Tech One as a reverse takeover transaction and comply with National Instrument 51-102 Continuous Disclosure Obligations (" NI 51-102 ") .
The amended and restated financial statements have been posted to SEDAR (www.sedar.com) under the Company's SEDAR profile.
Amended and Restated Management Discussion and Analysis (MD&A)
The Company has amended and restated its MD&As for the interim periods ending May 31, 2021 and August 31, 2021 to correct the references to the quarterly results in the MD&As to account for the acquisition of Tech One as a reverse takeover transaction and comply with NI 51-102 and Form 51-102F1 Management's Discussion and Analysis.
The amended and restated MD&As have been posted to SEDAR (www.sedar.com) under the Company's SEDAR profile.
Amended and Restated Material Change Report
The Company has also amended and restated its material change report dated May 6, 2021, which was filed in connection with the Company's acquisition of Tech One in order to provide additional disclosure required under Item 5.2 of Form 51-102F3 with respect to the acquisition, which constituted a "restructuring transaction" as that term is defined in NI 51-102.
The amended and restated material change report has been posted to SEDAR (www.sedar.com) under the Company's SEDAR profile.
The Company has filed a technical report for its Incahuasi Project entitled "Technical Report for the Incahuasi Salar Lithium Concession, Salta Province, Argentina" (the " Technical Report "), as required under section 4.2(1)(j)(i) of National Instrument 43-101 Standards of Disclosure for Mineral Projects , to support the disclosure of the preliminary economic assessment in the Company's July 1, 2021 corporate presentation.
The Technical Report has been posted to SEDAR (www.sedar.com) under the Company's SEDAR profile.
Tech One Lithium Resources Corp.
Tech One's business is the acquisition, exploration and evaluation of natural resource properties in Canada and Argentina. Tech One holds an option to acquire up to 100% of the mineral concessions of the Candela II project located within the prolific Lithium Triangle, in the Salta Province of Argentina.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release, including without limitation, statements pertaining to the timing of filing of certain disclosure documents and potential for conclusion of the BCSC's review, are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, without limitation, regulatory, legislative, environmental and other judicial or political developments, and operational difficulties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this press release.
News Provided by GlobeNewswire via QuoteMedia
Not for distribution to U.S. newswire services or for dissemination in the United States
Giyani Metals Corp. (TSXV: EMM, GR: A2DUU8) (" Giyani " or the " Company "), developer of the K.Hill battery grade manganese project in Botswana (" K.Hill Battery Manganese Project " or " K.Hill "), is pleased to announce the results of a life cycle assessment (" LCA ") prepared by Minviro Limited (" Minviro ") based on the feasibility study for K.Hill (" FS ").
The goal of this LCA is to determine the significant project and process parameters contributing to the GWP from production of HPMSM at K.Hill. The LCA is a cradle-to-gate study, meaning the product GWP is assessed from the point of ore and waste rock extraction (cradle) to the end-gate (a set point at the end of processing, with HPMSM being ready for transport to customers), modelled in the two distinct stages of mining and processing using data developed as part of the FS.
The total GWP of 3.2 kg CO 2 eq. per kg HPMSM can be classified into scope 1, 2 and upstream scope 3 emissions:
The LCA will support Giyani in understanding the GWP of the K.Hill Battery Manganese Project, its main drivers and inform decision-making on advancing project development. The main impact driver of the GWP is the consumption of electricity from the national grid in Botswana, corresponding to approximately 37% of total GWP. The plan, as laid out in the FS for K.Hill, includes a 4.5 MW photovoltaic solar plant and Giyani is currently assessing various options to further reduce the GWP for K.Hill and to develop a roadmap for decarbonization.
Robin Birchall, CEO of the Company, commented:
"The results of the LCA confirm the potential of the K.Hill Battery Manganese Project to be a low-carbon producer of a critical battery raw material. One of Giyani's key strengths will be our ability to produce HPMSM directly from our high-grade manganese oxide ore without the need for calcining or electrorefining, both potentially significant emitters of greenhouse gases.
In addition to calculating our global warming potential, the LCA will also act as a guide to help develop a roadmap to decarbonize our operation, which is part of our long-term strategic objective. Further information on K.Hill and its development plan will be available in the FS, which is expected to be published in the coming weeks."
Giyani is a mineral resource company focused on becoming one of Africa's first low-carbon producers of high-purity manganese sulphate monohydrate (" HPMSM ") precursor materials directly from manganese oxide ore, used by battery manufacturers for the expanding electric vehicle market through the advancement of its manganese assets in the Kanye Basin in south-eastern Botswana, (the " Kanye Basin Prospects ") through its wholly-owned Botswana subsidiary Menzi Battery Metals (Pty) Limited. The Company's Kanye Basin Prospects consist of eight prospecting licences and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Battery Manganese Project, the Otse and Lobatse manganese prospects, both of which have seen historical mining activities.
Qualified Persons / NI 43-101 Disclosures
Mr. Jacques du Toit CEng. PrEng. MscEng. PMP is a qualified person, as defined by National Instrument 43-101. Mr. du Toit is the Company's VP, Technical Services and has reviewed and approved the scientific and technical content contained in this press release but is not independent for the purposes of NI 43-101.
Minviro (www.minviro.com) is a London based and globally recognized consultancy and technology company specialized in carrying out life cycle assessments in the technology metals space. The company provides quantitative environmental and climate impact data for mineral resource projects, battery manufacturers and original equipment manufacturers to make environmentally informed decisions.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall CEO, Director +44 7711 313019 rbirchall@giyanimetals.com
George Donne VP Business Development +44 7866 591 897 gdonne@giyanimetals.com
Judith Webster Corporate Secretary +1 416 453 8818 jwebster@giyanimetals.com
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account of benefit of, persons in the United States or U.S. Persons.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. Specific forward-looking statements and forward-looking information herein includes completion of receipt of TSXV approval for the private placement and completion of the private placement.
All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani's ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks in how the world-wide economic and social impact of COVID-19 is managed; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani's forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.
Giyani's forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management's beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani's Annual Information Form, all of which are filed on SEDAR at www.sedar.com .
News Provided by GlobeNewswire via QuoteMedia
ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME"), announced today that Company CEO, Stephen Hanson has been invited to present at the Conference on Mining and its Role in EV Demand, presented by Maxim Group LLC and hosted by M-Vest, on Tuesday, October 4th at 11 A.M. EDT.
Tate Sullivan, Industrials Research Analyst at Maxim Group, will host panel discussions with mining companies to discuss global supply trends of various materials that industrial companies need to buy in order to satisfy future demand for batteries and electric vehicles. Panels will discuss mining developments in the U.S. for lithium, nickel, and other mineral resources. Executives from mining companies will provide different perspectives on the long-term outlook for demand from battery and electric vehicle customers.
This conference will be live on M-Vest. To attend, just sign up to become an M-Vest member.
Click Here to Reserve your seat
11:00 a.m. EDT - Demand Outlook for Multiple Materials For Batteries & EVs (Cobalt, Copper, Graphite & Nickel)
12:30 p.m. EDT - U.S. Development of Lithium Resources for EVs
Founded in 2002, Maxim Group is a leading full-service investment bank, securities and wealth management firm headquartered in mid-town Manhattan providing a comprehensive array of financial services including investment banking, global institutional sales, equity research, fixed income and derivative sales & trading, merchant capital, private wealth management, and prime brokerage services to a diverse range of corporate clients, institutional investors and high-net-worth individuals. Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board (MSRB).mmission and the Municipal Securities Rulemaking Board (MSRB).
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson Chief Executive Officer, President and Director Telephone: (604) 564-9045 info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138848
News Provided by Newsfile via QuoteMedia
Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces that Mr. Grant Thornley, Vice-President of Engineering Sales as well as Alessandra Rodriguez, Research Engineer will be exhibiting live at WEFTEC in New Orleans from October 8 to October 12, 2022
Location: New Orleans Morial Convention Center, Booth #4047 in Hall F in the Canadian Pavillion
Link: https://www.weftec.org
WEFTEC 2022 is an event where water professionals from around the world showcase the best in water quality education, the latest technologies, and trends. The Company is proud to present its patented forward osmosis solution that has the potential to significantly reduce water usage in many industrial use applications at this water quality event. Vice-President of Engineering Sales, Mr. Thornley comments "We are excited to be exhibiting at WEFTEC this year, as it provides us the opportunity not only to promote our technology and solution offerings but also to meet with our representatives and to network with industry experts".
About Forward Water Technologies Corp.
Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. For more information, please visit www.forwardwater.com.
About the WEFTEC Water Quality Event 2022
The WEFTEC is celebrating its 95th annual Technical and Exhibition Conference this year in New Orleans. This is the largest water/wastewater conference in North America, providing access to the most cutting-edge technologies in the field. With thousands of water and wastewater professionals from around the world in attendance each year, sharing their experience with trends, water quality and proven solutions. For more information, please visit https://www.weftec.org.
Mr. Howie Honeyman, Ph.D., President & Chief Executive Officer Forward Water Technologies Corp. howie.honeyman@forwardwater.com
For further information please contact:
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.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
SOURCE: Forward Water Technologies Corp.
News Provided by ACCESSWIRE via QuoteMedia
Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce that it has secured a firm commitment to purchase petalite concentrates produced at the Company's Separation Rapids Lithium Project north of Kenora, Ontario. The off-take agreement is for a multiple number of years with a major non-Chinese international glass ceramic manufacturer. The agreement is subject to a number of conditions precedent, including the delivery and acceptance of a larger commercial sample of the petalite product. The customer has agreed to initially pay the current market price for the petalite product for at least the first year after commercial shipment commences. There is now considerable interest from other major glass ceramic manufacturers in Europe and Asia as there is presently a global shortage of petalite supply after China took control of the traditional petalite supply sources in Zimbabwe.
Avalon's Separation Rapids Project hosts one of the few significant resources of the rare high purity lithium aluminum silicate mineral, petalite (LiAlSi4O10) in the world. Next steps involve processing the 5,000 tonne bulk sample collected from the project site in 2021 to produce trial quantities of the petalite product for the many end-users that have expressed interest. While the Company has been planning to establish a DMS processing facility on the property to begin producing trial quantities of the petalite product, Avalon now has access to an alternative process facility that will allow the Company to accelerate the process work to create the larger product samples this year that have been requested by the off-taker and the other glass-ceramic manufacturers that have expressed interest.
Commented Avalon's President & CEO, Don Bubar, "While Avalon remains committed to serving the emerging lithium battery materials market in Ontario through its recently announced partnership with LG Energy Solution, Ltd., Avalon is also well positioned to serve both the glass-ceramic and battery materials markets due to the large size of the Big Whopper pegmatite resource and the presence of several other petalite pegmatites on the property. It has been over 20 years since we first tried to serve the glass-ceramics market but it looks like our time has finally come! Lithium has other potential markets as well as a number of other historical applications including in pharmaceutical products to treat manic depression. For further information on Lithium please see an article I posted on the Innovation News Network: https://www.innovationnewsnetwork.com/lithium-developments-the-past-present-and-future/19251/"
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in sustainably-produced materials for clean technology. The Company now has four advanced stage projects, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, cesium and zirconium. Avalon is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects, including its 100%-owned Lilypad Cesium-Tantalum-Lithium Project located near Fort Hope, Ontario. Social responsibility and environmental stewardship are corporate cornerstones.
For questions and feedback, please e-mail Avalon President and CEO, Donald Bubar, at ir@AvalonAM.com.
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements related to the off-take agreement, that next steps involve processing the 5,000 tonne bulk sample, that the Company now has access to an alternative process facility that will allow the Company to accelerate the process work to create the product samples this year and that Avalon is also well positioned to serve both the glass-ceramic and battery materials markets. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "potential", "scheduled", "anticipates", "continues", "expects" or "does not expect", "is expected", "scheduled", "targeted", "planned", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be" or "will not be" taken, reached or result, "will occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avalon to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. Although Avalon has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to market conditions, and the possibility of cost overruns or unanticipated costs and expenses as well as those risk factors set out in the Company's current Annual Information Form, Management's Discussion and Analysis and other disclosure documents available under the Company's profile at www.SEDAR.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting investors in understanding the Company's plans and objectives and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements. Avalon does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138504
News Provided by Newsfile via QuoteMedia
Stefan Gleason (the "Acquiror"), a private investor, today announced that he is filing another early warning report in connection with his acquisition of an additional 2% in outstanding shares of Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company"), taking his stake in the Company to approximately 15.4
"I am thrilled to continue snatching up steeply undervalued shares of this first-mover battery metals company, especially as its royalty portfolio appears poised to spin off several million dollars in annual cash flow within the next three years," said Gleason. "Management has demonstrated it can ink accretive deals while carefully guarding shareholder interests. Well positioned for today's inflationary environment, Electric Royalties' efficient business model has a bright future."
On September 23, 2022, Acquiror purchased 304,900 Company shares via the OTCQB (at a cost of $90,739 CAD, or an average of $0.298 per share). Prior to September 23, the Acquiror held an aggregate of 13,684,333 Common Shares and 500,000 Warrant Shares, representing approximately 15.08% of the issued and outstanding Shares on an as converted and partially diluted basis. After the purchases on September 23, the Acquiror held 13,989,233 Common Shares and 500,000 Warrant shares, or 15.40% of the issued and outstanding Shares on an as converted and partially diluted basis.
Previously, on July 18, 2022, the Acquiror filed a report under the early warning reporting rules of Canadian securities laws, disclosing that he beneficially owned or had control or direction over 11,813,928 Shares and 500,000 Warrants, at the time representing approximately 13.37% of the Company's issued and outstanding Shares on an as converted and partially diluted basis. The Acquiror is filing this latest early warning report because he has now accumulated more than 2% of the Company's issued and outstanding Shares since the prior filing on July 18, 2022.
This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the Early Warning Report will be filed at www.sedar.com.
Electric Royalties Ltd. is located at 14th floor, 1040 West Georgia Street, Vancouver, B.C. V6E 4H1 Canada.
For further information: Stefan Gleason PO Box 49043, Charlotte, NC 28277 Tel: 208-577-2230 Email: stefan_gleason@yahoo.com
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address anticipated future events are forward-looking statements. Although the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.
News Provided by ACCESSWIRE via QuoteMedia
VANCOUVER, BC / ACCESSWIRE /September 23, 2022 / Marvel Discovery Corp.(TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF), ("Marvel");and Falcon Gold Corp. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB), ("Falcon");and together (the "Alliance") are pleased to provide an update on their combined exploration focus for their Hope Brook Projects which are strategically located contiguous to Benton-Sokoman's Joint Venture, and First Mining's ground which was recently optioned to Big Ridge Exploration. The Alliance had originally planned to complete high resolution magnetic gradiometer surveys over the project area, a proven method to distinguish structural complexities in geological terranes. Start of the survey work has been delayed due to helicopter availability from forest fires in Central Newfoundland, a state of emergency was issued. Providing the Alliance an opportunity to conduct a geophysical review and structural interpretation over the Hope Brook project area in advance of the survey and surface work. The Alliance is pleased to announce that the geophysical review has identified kilometer-scale shear zone corridors, and a major fold closure, interpreted from the magnetic patterns, within the Hope Brook Property area. These will be the focus of prospecting and till sampling projects employed to verify the structures and determine their mineralization potential. With recent success in identifying anomalous gold, tungsten, silver, and copper reported by Falcon at their Gander North Property (September 15, 2022), the Alliance has shifted their exploration focus to the Gander district.
In the past year, Benton-Sokoman made headlines announcing the first High Grade Discovery of Lithium bearing pegmatites at their Golden Hope project. It is important to note this discovery is less than 1 km away from the combined ground held by Marvel and Falcon and appears to be the same structural corridor covered by the Alliance land tenure. The 35 grab and chip samples noted in the Benton-Sokoman NR (September 16th, 2021) were collected over a 2 km distance. Their sampling program confirmed the presence of lithium pegmatites, and the first significant occurrence of Lithium documented in the province of Newfoundland and Labrador, Canada.
Marvel and Falcon recently formed a strategic partnership (November 17, 2021) that combines both the Hope Brook and Baie Verte Brompton District properties covering a combined 115,170 hectares to be explored on a 50-50 Joint Venture basis. The Hope Brook Property is hosted within the Exploits subzone of the central Newfoundland gold belt. The property covers extensions of, or are proximal to, two major structures linked to several significant gold prospects (Cape Ray; Matador Mining) and deposits (Hope Brook; First Mining) in southern Newfoundland. Rock lithologies and structures on the property are also related to those associated with Marathon Gold's Valentine gold deposits, Sokoman's Moosehead gold project and New Found Gold's Queensway gold project. The combined land position straddles both the eastern and western extents of recent land acquisitions by the Benton-Sokoman's JV partnership, with the JV now controlling areas of considerable structural complexity marked by large-scale fold and fault structures, which provide important structural controls (traps) for gold mineralization within this area.
Within this immediate area, the most significant deposit is the Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit is now owned by Coastal Gold Corp., which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories.
The technical content of this news release has been reviewed and approved by Greg Robinson, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Karim Rayani President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
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.
News Provided by ACCESSWIRE via QuoteMedia
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.