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Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
Results of GM
Vast Resources plc, the AIM-listed mining company with operating mines in Romania and Zimbabwe, announces today that all resolutions were duly passed in the General Meeting.
For further information, visit www.vastresourcesplc.com or please contact:
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
Vast Resources plc is an AIM listed mining and resource development company focussed on the rapid advancement of high quality brownfield projects and recommencing production at previously producing mines in Romania.
Vast Resources currently owns and operates the Manaila Polymetallic Mine in Romania, which was commissioned in 2015 and is focussed on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area. The Company's portfolio also includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards obtaining the relevant permissions to start developing and ultimately commissioning the mine.
The Company also has interests in a number of projects in Southern Africa including a controlling 25% interest in the producing Pickstone-Peerless Gold Mine in Zimbabwe.
VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) -- Ultra Lithium Inc. (TSX-V:ULI) (“ULI” or “the Company”) is pleased to announce that it has commenced ground geophysical surveys at its Laguna Verde brine lithium property in Argentina. The Company contracted Beijing Explo-Tech and Engineering Co., Ltd. (BETEC), a specialty geophysical survey company from China to complete Gravity and Time Domain Electromagnetic (TDEM) surveys on the three brine properties. The BETEC technical team has already completed the survey layout in the Laguna Verde discovery zone.
Dr. Weiguo Lang, CEO of Ultra Lithium, stated, “This is the first milestone in understanding ULI’s lithium brine resource potential. Once the Laguna Verde geophysical survey is finished, we will begin to prepare for the drilling program while the geophysical team gets ready to start work on the remaining survey areas at the Amelia property in Salar Antofalla and the La Borita property. We will provide survey progress updates in the coming weeks.”
ON BEHALF OF THE BOARD OF DIRECTORS
Kiki Smith, CFO
About Ultra Lithium Inc.
For further information, please contact the Company at:
SEXSMITH, Alberta, June 25, 2018 (GLOBE NEWSWIRE) -- Angkor Gold Corp. (TSXV:ANK) (OTC:ANKOF) (“Angkor” or “the Company”) President J.P. Dau is pleased to provide an update regarding underground grab sample assays on material recently obtained from the Mesco mine site at Phum Syarung.
As previously reported by the Company, Angkor staff visited the Phum Syarung mine site in May of this year to observe progress underground and advancements to the infrastructure by owner Mesco Gold (Cambodia) Co., Ltd (“Mesco”). (See Company press release of May 23, 2018).
Angkor geologists, accompanied by a Mesco geologist, examined the stockpile of material removed from underground development work from Incline Shaft 1 and 2.
Mesco allowed samples of observable vein material to be collected by Angkor geologists for analysis on two levels from Incline 1 and two samples on one level from Incline 2. In total, four samples were collected by Angkor and analyzed by ALS Chemex.
Rock chip and grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
Incline 1 was observed to be approximately 213.0 m in length and has become the main entrance point for Mesco to stage their next steps of underground development. Horizontal cross-cutting from Incline 1 on multiple levels is planned by Mesco to join the loading shaft and Incline 2. The overall distance between the loading shaft at the northern-most point and Incline 2 at the southern-most point is approximately 400m.
Angkor geologists hope to visit the site in the near future to collect additional in situ samples and to learn more concerning the attitude and characteristics of the veins.
“This knowledge will help tremendously in Angkor’s exploration of similar style veins such as the Wild Boar and Wild Monkey occurrences on the adjacent Andong Meas tenement,” said Dennis Ouellette, VP Exploration. “I am impressed with the high gold values returned by the underground samples from the Mesco mine site.”
In 2013, Angkor sold a 12 km2 portion of its Oyadao South Exploration Licence, known as Phum Syarung, to Mesco Gold (Cambodia) Co., Ltd (“Mesco”) for $1.8 million US in cash. Angkor retained a sliding scale Net Smelter Return interest (“NSR” or “the Royalty”) ranging from 2.0% to 7.5% on any gold production, as well as 7.5% of the value all other metals produced. Angkor’s only interest in Mesco’s Phum Syarung mine site is the NSR. Environmental approvals were granted to Mesco on August 8, 2016 and a mining license was issued to Mesco by the Cambodian Ministry of Mines on September 6, 2016. Angkor continues to own exploration licenses for the surrounding Oyadao South Exploration Licence and adjacent Oyadao North Exploration Licence.
NET SMELTER RETURN LINKED TO GOLD PRICE
Angkor’s Net Smelter Return is linked to the price of gold. Under the agreement with Mesco, the NSR is a minimum of 2.0% where the gold price is less than US$1000 and increases by 0.25% for every US$50 that the gold price exceeds US$1000, to a maximum of 7.5%. For all other minerals the NSR is a fixed 7.5%.
“We are especially encouraged by the recent progress. These results are very good news for us,” Dau said. “We expect this will generate significant interest in our other properties where gold is the primary target.”
Dau also cautioned that “due to Mesco being owned and operated by Mesco Steels Limited based in India, Mesco’s own results and reporting as to grade and project economics are not governed by CIM definitions or North American NI 43-101 standards or requirements.”
Under Mesco’s agreement with Angkor, Mesco is not obligated to provide such data for verification until and if any future production commences. Angkor’s only interest in Mesco’s Phum Syarung project is as an NSR holder.
Grab samples are collected as niche samples of rock material of specific style or character of interest. A target sample weight of 3-5kg is collected for assay. Sample preparation is carried out at a commercial off-site laboratory (ALS Phnom Penh). Gold assays are conducted at ALS Vientiane, Laos utilising a 50 gram subsample of 85% passing 75μm pulped sample using Fire Assay with AAS finish on an Aqua Regia digest of the lead collection button. Multi-element assay is completed at ALS, Brisbane, Australia utilising a 4 acid digest of a 1g subsample of 85% passing 75μm pulped sample and determination by ICP-AES or ICP-MS for lowest available detection for the respective element. Samples are dried for a minimum of 12 hours at 105˚C.
All types of samples are prepared for assay at the NATA accredited ALS Cambodia sample preparation facility in Phnom Penh. Field duplicates of soil samples are also collected routinely (approx. 1 every 20 samples). This sample technique is industry norm, and is deemed appropriate for the material.
Industry-standard QA/QC protocols are routinely followed for all sample batches sent for assay, which includes the insertion of commercially available pulp CRMs and pulp blanks into all batches - usually 1 of each for every 20 field samples. Additional blanks used are home-made from barren quarry rock. QA/QC data are routinely checked before any associated assay results are reviewed for interpretation, and any issues or anomalies are investigated before results are released to the market. No issues were raised with the results reported here.
All assay data, including internal and external QA/QC data and control charts of standard, replicate and duplicate assay results, are communicated electronically.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold Corp. is a public company listed on the TSX-Venture Exchange and is a leading mineral explorer in Cambodia with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
Dennis Ouellette, B.Sc, P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #104257) and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). He is the Company’s VP of Exploration and has reviewed and approved the technical disclosure in this release.
On behalf of the Board,
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.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
LONDON, June 25, 2018 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ:GSM) (“Ferroglobe” or the “Company”), the world’s leading producer of silicon metal, and a leading silicon- and manganese-based specialty alloys producer, is pleased to announce that it has appointed Phillip Murnane Chief Financial Officer (“CFO”), effective July 9, 2018.
Mr. Murnane succeeds Joe Ragan, who has chosen to step down from his position to pursue other personal and professional interests with a view to being closer to his family in the United States. Mr. Ragan has agreed with the Company that he will remain engaged and working with management until the end of 2018 to provide for a seamless transition in leadership and responsibilities.
Javier Lopez Madrid, Ferroglobe’s Executive Chairman, commented, “Phil brings a unique combination of financial expertise and profound operational leadership to Ferroglobe, and we are thrilled to have him join our senior management team. His finance and risk management acumen, particularly in metals and mining, combined with his proven track record of delivering corporate initiatives on a global scale, will be critical in supporting our growth and increasing shareholder value over the long-term.”
Pedro Larrea, Ferroglobe’s Chief Executive Officer, said, “Joe has been an integral part of Ferroglobe for the past five years, leading its successful integration, strengthening the balance sheet, and positioning the Company with a healthy financial structure for continued growth. We thank him for his dedication and support, and wish him the very best in his future endeavors.”
Mr. Ragan added, “I am very proud of what we have accomplished during my time at Ferroglobe – building the Company into a world class speciality metal business. While choosing to leave was a difficult decision, I depart confidently knowing that Phil is the ideal individual to take on the role of CFO and help the Company achieve its long-term financial and strategic goals.”
Mr. Murnane brings to Ferroglobe over 15 years of experience in senior financial and operational leadership positions across the commodities sector, including management roles within the Noble Group, Glencore and Centrica. Most recently, he was at Noble Group Limited, where latterly he held a dual role as Chief Operating Officer of the Americas and EMEA and of Global Energy. Prior to Noble Group, he served as Finance Director at Glencore International. Previously, he worked with Centrica plc in their upstream assets and midstream trading business. Mr. Murnane began his career working in the Enterprise Risk Services group at Deloitte. He holds a Bachelor of Commerce and a Bachelor of Economics from Australian National University and is a Member of the Institute of Chartered Accountants of Australia.
Forward-looking statements contained in this press release are based on information presently available to the Company and assumptions that we believe to be reasonable, but are inherently uncertain. As a result, Ferroglobe's actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control.
All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statement which are made only as of the date of this press release.
Joe Ragan, +1 917-209-8581, +44 (0) 7827-227-688
TORONTO, June 25, 2018 (GLOBE NEWSWIRE) -- Rupert Resources Ltd (“Rupert” or the “Company”) announces the retirement of Brian Hinchcliffe as Executive Chairman and the appointment of Gunnar Nilsson as Non Executive Chairman. Brian Hinchcliffe has stepped aside to focus on other business interests but will continue to act as an advisor to the Company.
Brian Hinchcliffe, outgoing Executive Chairman of the Company said, “Northern Finland has emerged in the last five years as the host of a number of important gold and base metal deposits. Rupert’s Pahtavarra Project is well positioned, with its 290km2 contiguous land position and permitted 1400 tpd mill, to benefit from the new focus and investment in the region. Gunnar Nilsson with his decades of senior business experience in Europe, will bring the skill set required to complement existing management and commercially advance all the Company’s Finnish projects.”
Gunnar Nilsson, Non Executive Chairman of Rupert Resources said, “I am delighted to join the Board of Rupert Resources and look forward to working with James Withall and his team. On behalf of the Board I would like to acknowledge the contribution made by Brian Hinchcliffe to Rupert Resources over a number of years, in particular his role in the acquisition and initial development of the Pahtavaara Project and we are grateful that he will continue to lend his expertise to the Company in an advisory capacity.”
Notes to the Editors
Gunnar Nilsson was previously a Director of Northern Aspect Resources Limited, which was acquired by Rupert Resources in May 2018. Prior to this Mr Nilsson held senior roles at Johnson & Johnson and Svenska Cellulosa/Mölnlycke before retiring to act as a private investor. Mr Nilsson has over 30 years experience of developing and operating businesses in Europe and through joint venture companies outside Europe.
Rupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol “RUP”. The Company owns the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland (“Pahtavaara”). Pahtavaara has an Inferred mineral resource at a 1.5 g/t Au cut off grade of 4.6 Mt at a grade of 3.2 g/t Au (474 koz) (see Company’s release from April 16, 2018). The Company also holds a 100% interest in two properties in Central Finland - Hirsikangas and Osikonmaki; the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake, Ontario; and the Surf Inlet Property in British Columbia.
For further information, please contact:
Rupert Resources Ltd
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.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which constitute ”forward-looking statements”, including the completion of the proposed Transaction, deadlines, regulatory approvals, business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended February 28, 2018 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
Investorideas.com talks metals and mining with David Stein of Aerecura
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"2016 was an oasis year in what has been a long desert for financing junior miners" - David Stein, MSc., CFA
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Abacus Mining & Exploration (TSX:AME.V) is a mineral exploration and mine development company with a 20% interest in the Ajax Project located at the historic Ajax-Afton site southwest of Kamloops, B.C. The Ajax Project is a proposed copper-gold open-pit mine currently in the submission stage of a provincial and federal environmental assessment process. Through KGHM Ajax Mining Inc., a joint venture company between Abacus (20%) and KGHM Polska Miedz S.A. (KGHM) (80%), the mine is being funded in large part by KGHM and operated by its wholly-owned subsidiary, KGHM International Ltd.
Abcourt Mines (TSX:ABI.V; OTC:ABMBF) is an exploration and development company with strategically located properties in northwestern Quebec, Canada. The Elder property has gold resources, the Abcourt-Barvue Project has silver-zinc ore reserves and resources and the Aldermac property has historical copper-zinc resources. The reported reserves and resources are considered as current mineral reserves and resources. Abcourt is now focused on the Elder and Abcourt-Barvue projects with Elder as the first priority. Reserves and resources are current.
Aberdeen International (TSX:AAB.TO; OTC:AABVF) is a private equity investor and advisor focusing on the global mining and natural resources industry. African Thunder Platinum, Aberdeen's premiere investment, is a lower-cost platinum group metals producer in South Africa's well known Bushveld Complex. Aberdeen will further enhance its mineral investment holdings with the acquisition of the lucrative Diablillos lithium project in Argentina.
Abitex Resources Inc. (TSX:ABE.V) is a Val-d'Or, Quebec, based exploration company focused on acquiring and advancing mineral properties in Quebec. ABE is focused on Uranium-Gold in Quebec's Otish Mountains but also has other assets such as the Jolin gold property near Val-d'Or and the St-Stephen Ni-Cu property in new Brunswick which both host historical resources.
ABM Resources Ltd (ASX:ABU.AX) is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
Adamera Minerals Corp. (TSX:ADZ.V) is exploring for high-grade gold deposits within hauling distance of the operating Kettle River Mill in Northeastern Washington State. The company's strategy is to fast-track the discovery to production process by exploring close to a mill in need of ore. Adamera is exploring several projects with a goal to become the dominant mining/exploration company in the area through discovery.