Agoracom Blog

Nevada Energy Metals Announces Update: American Lithium Corp Joint Venture in Clayton Valley $BFF.ca

Posted by AGORACOM-JC at 8:37 AM on Tuesday, July 19th, 2016

Bff_hub-2_copy

  • Subsequent to the Companies news release of June 17th, 2016, American Lithium Corp. has received TSX-V approval to acquire all of the outstanding shares of 1074654 B.C. Ltd
  • Holds the right to acquire up to a 70 % interest in and to the Clayton Valley BFF-1 project “the Property” located in Nevada.
  • Following the exercise of the Option, the American Lithium Corp shall have a seventy (70%) interest in and to the Property, with Nevada Energy Metals retaining the balance.

July 19, 2016 / Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company”, TSX-V: BFF (OTCQB: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that, subsequent to the Companies news release of June 17th, 2016, American Lithium Corp. has received TSX-V approval to acquire all of the outstanding shares of 1074654 B.C. Ltd which holds the right to acquire up to a 70 % interest in and to the Clayton Valley BFF-1 project “the Property” located in Nevada.

American Lithium Corp. now assumes the obligations in respect to the previously announced option agreement, which in addition to a non-refundable deposit of USD$25,000 (paid) is USD$2750,000 and 1,200,000 million common shares of American Lithium Corp. in three tranches on or before the second anniversary of closing, and $1-million in exploration expenditures on or before the third anniversary.

Following the exercise of the Option, the American Lithium Corp shall have a seventy (70%) interest in and to the Property, with Nevada Energy Metals retaining the balance. Thereafter, the parties will work diligently and in good faith to negotiate the terms of a joint venture to advance development of “the Property. The joint venture will provide that expenditures on the Property will be funded on a pro rata basis, based upon the respective parties proportionate interest in the Property. In the event that any one party declines to fund the expenditures in proportion to their interest, their respective interest in the joint venture shall be reduced accordingly, provided that no party shall be diluted below a fifteen (15%) interest in the Property.

Rick Wilson, Chief Executive Officer of Nevada Energy Metals, commented: “We are delighted to have American Lithium Corp as our partner with which to advance the Clayton Valley property. The BFF-1 Project covers an area similar to the structural and geologic settings at Albemarle’s Silver Peak lithium-brine operation and lies only two hundred meters to the north west side of their property. We look forward to an exciting exploration program being carried out in the months ahead.”

About the BFF-1 Project:

The Clayton Valley BFF-1 Project is an early-stage lithium brine prospect in Esmeralda County, Nevada. A total of 77 placer claims cover an area of approximately 623 ha (1,540 acres) on the north-western side of the original Clayton Valley playa. The property position covers an inferred graben bounded by the Silver Peak Range front on the west and by an outlier of Paleozoic rocks known as Goat Island on the east. The exploration concept is that the graben is a sub-basin of the larger Clayton Valley basin and may represent a secondary trap for lithium brines within the greater system.

The Clayton Valley BFF-1 NI 43-101 Technical Report by Alan Morris, CPG, QP, states “The property has strong potential to host Lithium brine deposits in favorable geologic horizons within the basin fill. Another possible target is lithium enriched clay within the fill package and potentially in previous high stands of the playa.” (April, 2016)

Geologic and geophysical mapping conducted for geothermal exploration and documented by Hulen (2008) indicates previously unrecognized, deep graben lying between the Silver Peak range front and outcrops of Paleozoic rocks at Goat Island and Alcatraz Island. This area was their target zone for a deep circulating geothermal system they hoped to exploit for geothermal power. This graben is the main target for lithium brine as it may represent a separate sub-basin in Clayton Valley that holds brines not subject to pumping by production wells on the east side of the main valley. Exposed mineralization is confined to salt crust on the playa surface and other locations in the valley.

Western Geothermal Partners drilled a 120 meter (400 foot) geothermal gradient test well in 2006 on what is now the Clayton Valley BFF-1 project. Bottom hole temperature was 50?C (122?F) which showed moderate potential for geothermal power. Of significance, the well encountered a 25-foot-thick zone of volcanic ash reportedly similar to the Main Ash Aquifer in the Clayton Valley lithium operation. The presence of any felsic ash in this hole is significant in light of that, it is the presumed source for at least some of the lithium in the brines (Price et al, 2000).

Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG, Elko, Nevada

About Nevada Energy Metals: http://nevadaenergymetals.com/

Nevada Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has 100% ownership in 77 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America. Nevada Energy Metals has also acquired, 100 claims (Teels Marsh West) covering 2000 acres (809 hectares) at Teels Marsh, Mineral County, Nevada, a prospective lithium exploration project, 100% owned without any royalties; the San Emidio Desert lithium project, consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; the Alkali Lake Project in Esmeralda county, is a 60% earn in option agreement from Dajin Resources Corp, where near surface lithium values have been confirmed; the Dixie Valley Project consisting of 911 claims covering 73.6 square kilometers/28.4 square miles (7,363 hectares/18,194 acres) of salt marsh playa. Of the seven characteristics favourable for the formation of a lithium brine deposit as outlined in the U.S. Geological Survey deposit model, all seven are found in Dixie Valley. The lithium deposit model for Dixie Valley is a Clayton Valley-style brine deposit.

On Behalf of the Board of Directors

Rick Wilson, President & CEO

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.

Namaste Closes Acquisition of VaporSeller While Increasing Annualized Run Rate Revenue By Approximately 142% to US$5.8M $N.ca

Posted by AGORACOM-JC at 11:03 AM on Monday, July 18th, 2016

Highlights of the acquisition:

  • Increases annualized run rate revenue by approximately 142% to US$5.8 million;
  • Expands customer list by over 150,000 names;
  • Adds new manufacturer relationships and products that will be sold though VaporSeller as well as Namaste’s retail and wholesale division;
  • Provides strategic entrance into the US market.

TORONTO, ONTARIO–(July 18, 2016) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ) reports that it has completed the acquisition of VaporSeller, an e-commerce portal for the sale of vaporizers and accessories that generated an unaudited revenue base of US$3.4 million in 2015. The Company has commenced integration activities to ensure an effective transition into the operations of Namaste. This includes software integration, inventory storage and controls, and the transition of customer service and support functions. The following sets forth the highlights of the acquisition:

  • Increases annualized run rate revenue by approximately 142% to US$5.8 million;
  • Expands customer list by over 150,000 names;
  • Adds new manufacturer relationships and products that will be sold though VaporSeller as well as Namaste’s retail and wholesale division; and
  • Provides strategic entrance into the US market.

Further to the Company’s press release dated June 7, 2016 that outlines the definitive terms for the acquisition of VaporSeller, the Company has acquired all VaporSeller related website domains, a customer list of over 150,000 names, and related intellectual property, goodwill, and support services, in exchange for US$500,000 in cash, 5.0 million shares of Namaste over time and an earn-out of US$1.5 million, subject to revenue and margin controls.

In addition to closing the acquisition of VaporSeller, the Company has also closed on the minimum subscription requirement of its non-brokered private placement by issuing approximately 8.0 million units (“Units) of the Company for gross proceeds of approximately $960,000. Each Unit consists of one common share of the Company and one common share purchase warrant at an exercise price of $0.18 for a period of 2-years. All securities issued pursuant to the non-brokered private placement are subject to a four month plus one day hold period. The Company continues to work with investors to obtain additional subscriptions for its non-brokered private placement and will update investors in due course.

Mr. Sean Dollinger, President and CEO of Namaste, comments: “The closing of VaporSeller represents a very significant accomplishment for the Company. In less than 6-months from going public, we have more than doubled the size of Namaste’s revenue base, substantially expanded our customer base, entered the US market and added important new lines of products. I would like to personally thank all those involved in bringing this transaction together.”

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has over 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

Sean Dollinger, Chief Executive Officer

Further information on the company and its products can be accessed through the link below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

FORWARD LOOKING INFORMATION

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.

Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+ 1 (604) 685-8045
+ 1 (786) 389-9771
info@namastevapes.com
www.namastetechnologies.com

 

Durango Finalizes Exploration Plan For Nemaska Whabouchi Area Properties $DGO.ca

Posted by AGORACOM-JC at 9:45 AM on Monday, July 18th, 2016

Logo

  • Finalized its exploration plan for its properties near Nemaska Lithium’s Whabouchi deposit
  • One of the closest land positions to Nemaska Lithium’s proposed Whabouchi pit
  • Boundary 1.4 kilometres to the east of the proposed pit and contiguous with more than 8 kilometres of Nemaska’s property boundary

Vancouver, BC / July 18, 2016 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) announces that it has finalized its exploration plan for its properties near Nemaska Lithium’s Whabouchi deposit in northern Quebec. Durango boasts one of the closest land positions to Nemaska Lithium’s proposed Whabouchi pit, with its boundary 1.4 kilometres to the east of the proposed pit and contiguous with more than 8 kilometres of Nemaska’s property boundary.

The first phase of exploration will consist of a detailed mapping and sampling program and will take place over the course of approximately two weeks, commencing in early August. The program will target geophysical and historical lithogeochemical anomalies, with the goal of identifying pegmatite bodies underlying the property. Various targets of the survey are outlined below.

Of particular interest to the Durango technical team are a series of geophysical signatures in both the historical total field and gradiometric magnetic surveys reported in the 2011 Tucana Lithium Report on the Abigail Property (1). These anomalies indicate some potential for an extension from the Whabouchi deposit, or a trail of similar pegmatite intrusions, towards the northeast, crossing the north-central portion of Durango’s eastern claim block, as shown below in Figure 1 and Figure 2.

Figure 1: Total Field Magnetic Survey


Click Image To View Full Size

Figure 2: Gradiometric Magnetic Survey


Click Image To View Full Size

Larger images available at: http://www.durangoresourcesinc.com/projects/nmx-east-quebec/

The Company cautions that these are preliminary interpretations. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in mineralization or mineral resources being identified on the property.

Durango has also coordinated with the Cree First Nation of Nemaska to arrive on site in the coming weeks. The Company is fully financed to execute the first phase of exploration at its Nemaska properties, as well as its 100%-owned Dianna Lake Silver Prospect in northern Saskatchewan (see Durango news, July 13, 2016).

Pending the success of the sampling program and identification of any anomalous lithogeochemical values, the following phase may consist of trenching across the identified anomalous zones, as warranted. Further information on the second phase of exploration will be provided after the conclusion of Phase 1.

Marcy Kiesman, CEO of Durango comments, “We were very pleased to hear on July 13th, Nemaska Lithium announced a drill program targeting the eastern zone of its proposed Whabouchi pit to add near-surface resources. This new information, in addition to the surge of recent activity in the area, has greatly reinforced the potential of Durango’s key land position in the Nemaska region. We expect to get boots on the ground following the completion of our sampling program at Dianna Lake, which is currently underway.”

Additionally, the board has granted an aggregate of 650,000 options to directors, officers and consultants of the Company. Each option is exercisable for one common share at an exercise price of $0.10 for a period of two years from the date of grant.

The technical contents of this release were approved by Mr. Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.

References

  1. (1)Theberge, D. (2011). NI 43-101 Technical Report Pertaining to the Abigail Property, Nemiscau Area, Northern Quebec, Canada, prepared for Tucana Lithium Corp.

About Durango Resources

Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi mine, the Buckshot graphite property near the Miller Mine in Quebec, the Dianna Lake silver project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel corridor.

For further information on Durango, please refer to its SEDAR profile at www.sedar.com.

Marcy Kiesman, Chief Executive Officer

Telephone: 604.428.2900 or 604.339.2243

Facsimile: 888.266.3983

Email: durangoresourcesinc@gmail.com

Website: www.durangoresourcesinc.com

Forward-Looking Statements

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to the purchase, development, completion of the Financing, commencement and completion of future exploration or project development programs and the impact on the Company of these events. 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 them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.

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

CLIENT FEATURE: Namaste (N: CSE) #1 Vaporizer Distributor in Europe, $4.8 Million of Sales in Initial Year $N.ca

Posted by AGORACOM-JC at 1:31 PM on Friday, July 15th, 2016

(CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ)

  • #1 vaporizer distributor in Europe
  • $4.8 million of sales in initial year
  • Proprietary product launched
  • Perfect market timing for expansion

  • On-line Retail Distribution
  • 30+ International Websites
  • 10 Languages
  • Proprietary Vaporizer Products
  • Strategic M&A

Regulation

  • Decriminalization of marijuana for medical and recreational use in US, Canada and Europe
  • Vaporizers have lower regulatory burden than growers

Health Advantages

Technical Advances

  • Improved mobility from reduced size of vaporizers
  • Ability to handle liquids, resins and plant matters


Hub On AGORACOM / Corporate Profile

Nevada Energy Metals Options-out Second Lithium Project in Nevada $BFF.ca

Posted by AGORACOM-JC at 8:36 AM on Friday, July 15th, 2016

Bff_hub-2_copy

  • Agreed to an Option Agreement where Wildcat Exploration Ltd.
  • Acquire a 100% interest,
  • Subject to a 3% Net Smelter Royalty,
  • 348 mineral claims located in Dixie Valley, Churchill County, Nevada

July 15, 2016 / Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company” (TSX-V: BFF; OTCQB: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that it has agreed to an Option Agreement where Wildcat Exploration Ltd. can acquire a 100% interest, subject to a 3% Net Smelter Royalty, in 348 mineral claims located in Dixie Valley, Churchill County, Nevada. The Option Agreement is “non-arms’ length” and so constitutes a related party transaction, as the Company’s President and CEO, Rick Wilson, is also a director of Wildcat Exploration Ltd., and is subject to TSX Venture Exchange (the “Exchange”) approval.

The DVA 1 to 348 placer claims, having an area of approximately 2,817 hectares/6,960 acres, covers a significant portion of the Humboldt Salt Marsh playa. Of the seven characteristics favorable for the formation of a Lithium brine deposit, as outlined in the USGS deposit model, all seven are found in Dixie Valley. The Lithium deposit model for Dixie Valley is a Clayton Valley style brine deposit.

Pursuant to the terms of the option agreement, Wildcat Exploration Ltd has 36 months within which to exercise the option as follows:

  • -USD $20,000 non-refundable deposit on signing;-USD$ 180,000 payable and 2,000,000 common shares issuable upon Exchange approval;-2,000,000 common shares issuable on the first anniversary date;

    -2,000,000 common shares issuable on the second anniversary date

    -USD$ 1,250,000 in eligible on or before the third anniversary date of the Option Agreement.

In certain instances and subject to Exchange approval, the Company may pay finder’s fees to eligible persons (“Finders”) in regards to the Option Agreement with Wildcat Exploration Ltd., consisting of cash and or common shares.

Dixie Valley Overview

Dixie Valley is located in west central Nevada, about 160 km east northeast of Reno. The entire basin is about 98 km long and up to 16 km wide. Humboldt Salt Marsh occupies the central part of the playa and is about 10 km north-south and 6 km east-west.

Dixie Valley is home to a large and long-lived geothermal system that is still active. The Caithness Dixie Valley geothermal power plant is producing about 64 megawatts of electricity making it the largest geothermal power plant in Nevada. The active geothermal system extends about 30 km roughly north – south along the entire west side of the valley. The heat source appears to be simple very deep circulation into the crust and is not related to igneous activity.

Very little exploration work has been directed at Lithium in this area. Geothermal water in the basin contains up to 4.89 ppm Lithium and stream sediment samples from the adjacent Stillwater range show values to 80 ppm Lithium. Geologically, recent volcanic ash from the Long Valley Caldera (Bishop Tuff) and Mono craters are expected to be found within catchment area of the basin and within the basin fill sediments. One major productive horizon in the Clayton Valley brine field is thought to be Bishop Tuff deposited and preserved in the basin (Zampirro, 2004).

Dixie Valley is a closed fault-bounded basin having the lowest elevation point (1031 m, 3383 ft.) in the Northern Great Basin as measured on the Humboldt Salt Marsh playa. Given the valley has been a closed basin for at least 500,000 years and probably much, much longer, plenty of time has elapsed for evaporative concentration of Lithium bearing geothermal and surface water. The valley appears to be about 2,000 meters deep, primarily filled with poorly sorted coarse conglomerate, gravel, sand and silt with volcanic rocks, and tuff beds, and finer sediments in the lower third of the section (Blackwell et al, 2014).

The conceptual deposit model is as the basin went through multiple wet and dry periods, Lithium dissolved by deep circulating geothermal fluids or leached from local rock units by surface and near surface water, seeped into the basin where it was concentrated by evaporation. Heavier brines sink into the deeper levels of the basin or flow downward along tilted permeable beds, potentially forming subsurface pools of Lithium rich fluids. The process can be likened to an inverted oil field, with the target material being descending fluids caught in gravity traps instead of ascending fluids caught in the tops of structures. This model is somewhat akin to placer gold deposits wherein large areas of very low grade sources are concentrated into economic grades.

The Humboldt Salt Marsh project was acquired for staking cost without royalties and a 200,000 share payment to the locator.

The contents of this news release has been approved by Alan J. Morris CPG who serves as the project geologist and Qualified Person on the Dixie Valley Project.

About Nevada Energy Metals: http://nevadaenergymetals.com/

Nevada Energy Metals Inc. is a well-funded Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at Lithium brine targets located in the mining friendly state of Nevada. The Company has recently completed (1) a 70/30 farm-out option JV on 77 claims in Clayton Valley, approximately 250m from the Rockwood Lithium mine, the only brine based Lithium producer in North America; (2) acquisition of 100% of the Teels Marsh West project (100 claims covering 2000 acres/809 hectares) in Mineral County, Nevada; (3) acquisition of 100% ownership of the Black Rock property (128 claims covering 2,560 acres/1,036 hectares) located in southwest Black Rock Desert, Washoe County, Nevada; (4) acquisition of 100% ownership in the San Emidio Project (155 claims, 3,100 acres/1,255 hectares) near Empire, Washoe County, Nevada; (5) the acquisition of the Alkali lake Project, 60% Option from Dajin Resources Corp. (191 claims covering 3,820 acres/1,558 hectares) in the Esmeralda County, Nevada.

On Behalf of the Board of Directors

Rick Wilson, President & CEO

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 contents of this news release.

Disclaimer for Forward-Looking Information:

This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as Exchange approval of the Option Agreement and the Financing and the Company’s ability to exercise the Option or close the Financing, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. Availability of financing, and general business conditions are all factors that could cause actual results to vary materially from forward-looking statements.

KWG Resources Mining Minute Episode 20 “International Edition & Special Guest! $KWG.ca

Posted by AGORACOM-JC at 12:56 PM on Wednesday, July 13th, 2016

In Episode 20, Mining Minute host Theresa Longo asks geologist, mine finder, map maker and GIS professional about how chromite is formed and drilled with respect to the Ring of Fire.

CLIENT FEATURE: Explor Resources (EXS: TSX-V) 609K oz Indicated / 470K oz Inferred Gold $EXS.ca

Posted by AGORACOM-JC at 12:29 PM on Wednesday, July 13th, 2016

Why Explor Resources?

  • Flagship Property Offers The Following:
  • NI 43-101 Resource – 609,000 oz Indicated / 470,000 Inferred
  • Teck Resources To Spend $12 MILLION To Earn 70%
  • Property Is 2.5 KM From Lake Shore Gold Mine
  • Property Is 13 KM From Downtown Timmins
  • 2nd Project 43-101 Open Pit Resource
  • 1.4 MILLION T Indicated @ 1.38% Copper
  • 2.09 MILLION T Inferred @ 1.26% Copper

ONTARIO AND NEW BRUNSWICK PROPERTIES CURRENTLY UNDER EXPLORATION

Timmins Porcupine West (TPW) (4300 ha)

  • NI 43-101 Resource: 609,000 oz Indicated
    470,000 oz Inferred Gold
  • 13 km from downtown Timmins
  • Property is 2.5 km, NE of LSG West Timmins Mine
  • Model: Hollinger McIntyre Gold System: 30,000,000 oz. Au
  • Discovery Hole 10-30 : 9.22g/tonne over 11.0 meters
  • Optioned to Teck Resources
  • Teck to spend $12,000,000 to earn 70% interest

Chester Copper & VMS Project (3500ha)

  • Mineral Target: Cu, Pb, Zn, Ag, & Au
  • 70 km SW of Bathurst NB
  • Structural Model Complete
  • 300 m wide x 2000m long mineralized Corridor identified
  • Ramp to ore zone (480 meter long (3m x 4m)
  • Optioned to Brunswick Resources (BRU)
  • Brunswick to spend $500,000 over 3 years
  • Explore to receive $40,000 and 5,000,000 shares of BRU
  • Open pit resource – NI 43-101 Resource: 1,400,000 Indicated t @ 1.38% Cu
    2,089,000 Inferred t @ 1.26 % Cu


Kidd Creek Project (2466 ha)

  • Mineral Target: Cu-Zn Ore
  • Located 1.0 km west of Kidd Creek Mine
  • Kidd Mine yielded 130M tonnes of Cu-Zn Ore since 1960
  • Numerous Geophysical max/min and IP Targets
  • Diamond Drilling winter 2015/2016

QUEBEC PROPERTIES CURRENTLY UNDER EXPLORATION

East Bay (3203 ha):

  • Mineral Target: Gold
  • Lies on Porcupine Destor Fault Zone, on strike with Beattie & Donchester mine
  • Historical channel samples by Lacana Mining in 1982 including: 0.81 oz/ton over 5ft; 0.16 oz/ton over 6 ft; 0.10 oz/ton over 10 ft
  • Wrap around Clifton Star

Nelligan (1198 ha):

  • Mineral Target: Nickel
  • Located in Val d’Or mining district of Quebec
  • Historical grab samples of 10% Ni and 0.6% Cu obtained by INCO
  • Discovered anomalous Nickel, Copper Zones

Launay (2250 ha):

  • Mineral Target: Nickel
  • Mineralized zones contained in mafic volcanic rocks
  • Contiguous to Royal Nickel’s Dumont property (NW end)

12 Month Stock Chart

Durango Initiates Sampling Program at Dianna Lakesilver Prospect In Saskatchewan $DGO.ca

Posted by AGORACOM-JC at 10:10 AM on Wednesday, July 13th, 2016

Logo

  • Commencing a sampling program this coming week at its 100%-owned Dianna Lake Silver Prospect near Uranium City, Saskatchewan
  • Sampling and mapping program will commence on July 17, 2016 and will take place over approximately one week

Vancouver, BC / July 13, 2016 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) is pleased to announce that it will be commencing a sampling program this coming week at its 100%-owned Dianna Lake Silver Prospect near Uranium City, Saskatchewan.

The Company confirms that the sampling and mapping program will commence on July 17, 2016 and will take place over approximately one week. The program aims to achieve the following goals:

  • -Verify and expand the area of historical anomalous assay values in and around the main Dianna Lake silver showings at Pit #1, Pit #2, and Pit #6 by means of outcrop mapping and sampling, and channel sampling;-Conduct detailed mapping and sampling across the four undrilled and underexplored historically identified IP (induced polarization) anomalies. Historical drilling of two other IP anomalies on the Dianna Lake property defined the bulk of the current zone of mineralization on the property (1); and-Establish the extent of the copper anomalies identified in Pit #7. Historical samples in this location yielded up to 5.87% Cu and 2.6 oz/t Ag (historical sample of up to 5.87% Cu and 2.6 oz/t Ag (1)).

The following historical samples are summarized in an evaluation report prepared for Comaplex Resources Corporation following a drilling, geophysical, and surface sampling program in 1980 (1). Pit dimensions are summarized in Table 1. Historical assay results for the most significant pits are shown below in their entirety in Table 2a and 2b, with a map of the trench locations shown in Figure 1. All samples from the trenches were recorded as grab samples. No significant work has been reported on the property since this program.

Table 1. Dimensions of significant historical trenches

Trench Length (m) # of samples taken Remarks
Pit #1 (main) 14.6 17 Main section of Pit 1
Pit #1 (north extension) 7.1 10 Northern extension of Pit 1
Pit #2 7.4 7
Pit #6 7.8 4
Pit #7 8.4 11

Table 2a. Historical samples from the Dianna Lake property (arranged in order of Ag content)

Pit #1 (Main) Pit #1 (North) Pit #2
Ag (oz/t) % Cu Ag (oz/t) % Cu Ag (oz/t) % Cu
2458.4 - 336.0 0.05 298.0 0.46
684.4 0.05 225.5 0.14 197.0 0.65
647.4 - 9.8 0.17 20.4 0.77
600.2 - 6.0 0.31 20.4 0.02
464.6 0.10 4.1 0.42 16.2 0.26
454.8 - 3.6 0.36 14.2 0.36
407.2 0.01 3.4 4.92 12.2 0.46
405.4 - 2.8 0.73
383.4 - 1.5 0.43
321.0 - 1.2 0.43
242.6 0.02
240.5 -
185.0 0.02
56.4 -
31.0 0.10
17.0 0.02
16.7 0.02

Table 2b. Historical samples from the Dianna Lake property (arranged in order of Ag content)

Pit #6 (Main) Pit #7 (North)
Ag (oz/t) % Cu Ag (oz/t) % Cu
54.6 0.1 8.4 0.19
45.1 0.04 5.0 4.92
18.2 0.05 4.7 2.35
11.1 0.19 3.1 1.15
1.6 0.19 2.6 5.87
2.6 1.18
2.4 1.95
2.3 1.06
2.1 0.62
1.9 0.94
1.5 0.48

(The Company cautions that grab samples are selective and may not be representative of the mineralization on the property.)

Figure 1. Trench locations and historical assays


Click Image To View Full Size

Larger image available at: http://www.durangoresourcesinc.com/dianna-lake-silver-saskatchewan/

About the Dianna Lake Silver Prospect

Durango’s Dianna Lake Silver Prospect covers a historical area in which, from 1968 to 1969, two high-grade, primarily native silver-bearing exploration targets of between 30,000 and 50,000 tonnes grading five to 10 ounces per ton silver, approximately 600 metres apart, were determined by trench grab sample assays, according to a historical evaluation report composed for Comaplex Resources in 1980(1) *.

* Potential quantities and grades are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Additionally, the main silver-bearing zone is spatially associated with a large zone of low-grade, disseminated copper-silver mineralization in which “drilling of two IP anomalies indicated approximately five million tonnes averaging 0.4 ounce per ton Ag and 0.4 per cent Cu” (undefined category historical resource estimate), according to the same report (1) **.

** A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or reserves. Further work must be carried out to verify all historical information before a resource estimate is possible.

Fourteen additional induced polarization anomalies in the historical exploration area surrounding Dianna Lake and the nearby Doug Lake remain yet undrilled, according to the Comaplex Resources report (1), four of which occur within the property boundary of Durango’s Dianna Lake silver project.

Previous work on the claims was reported in 1969, 1980 and 1998 and included diamond drill holes, trenches, and pits primarily across two zones where mineralization was identified at or near surface. One zone was reported to have five trenches exposing Ag-Cu mineralization over approximately 80 metres. Historical grab samples from Pit 1 of this zone included ounce-per-ton silver values of 2,458.4, 684.4, 647.4, 600.2, 464.2, and 454.8 ounces per ton Ag. Out of 18 grab samples, 13 samples assayed between 185.0 and 2,458.4 ounces per ton. Pit 2 grab samples returned reported highs of 298.0 and 197.0 ounce per ton Ag (out of seven samples ranging from 12.2 to 298.0 ounces per ton Ag) (1). (The Company cautions that grab samples are selective and may not be representative of the mineralization on the property.)

The technical contents of this release were approved by Mr. Case Lewis, P.Geo., a qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.

References

  1. (1)”Evaluation report of the Dianna Lake silver-copper property, CBS 3141, S-97735 and S-97736, Uranium City area, Saskatchewan, Canada, for Comaplex Resources International Ltd.” E.G. Kennedy, PEng, 1980.

About Durango Resources Inc.

Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East, Lac Noirs, Montagne North and Boomerang lithium properties near the Whabouchi mine, the Buckshot graphite property near the Miller Mine in Quebec, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel corridor.

For further information on Durango, please refer to its website and its SEDAR profile at www.sedar.com.

Marcy Kiesman, Chief Executive Officer

Telephone: 604.428.2900 or 604.339.2243

Facsimile: 888.266.3983

Email: durangoresourcesinc@gmail.com

Website: www.durangoresourcesinc.com

Forward-Looking Statements

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to future exploration or project development programs and the impact on the Company of these events. 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 them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.

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

PFN Launches 2016 PGM Exploration Program at River Valley Platinum Group Metal Project, Sudbury, Ontario $PFN.ca

Posted by AGORACOM-JC at 9:15 AM on Wednesday, July 13th, 2016

-Field crew mobilized to PFN’s 100% owned River Valley PGM property

-Summer surface exploration followed by fall drill program

-Surface exploration to guide planning of Fall Drill Program, on T2 discovery and exploration for more T2-like discoveries, along the strike to the east and to the south

-River Valley, a primary PGM deposit with 2.5 Moz PGM in near-surface, Measured and Indicated resources, within 100 km of Sudbury – one of Canada’s largest, undeveloped, Primary PGM Reserves.

-Strong infrastructure support, with year-round road access and nearby rail, power and communities

-4 New, 100% owned Lithium Projects, with Pegmatite deposits, in Manitoba and one Brine Exploration Project, Clayton Valley, Nevada

Vancouver, BC / July 13, 2016 – Pacific North West Capital Corp. (“PFN”, the “Company”) (TSX.V: PFN; Frankfurt: P7J.F; OTCQB: PAWEF announces the launch of its 2016 Exploration Program, at its 100% owned River Valley Platinum Group Metal (PGM)-Copper-Nickel Project, near the city of Sudbury, Ontario (Figure 1). PFN’s key objective for 2016 is to follow-up drilling at the high-grade T2 discovery, in order to confirm that it has the potential to warrant resource delineation drilling. To that end, the 2016 Exploration Program consists of two components: 1) a Surface Exploration Program for the summer field season; and 2) a follow-up Diamond Drill Program for the fall. Each of the components will be carried out under Exploration Permit PR-13-10095R and with financial support from the Junior Exploration Assistance Program (JEAP) (see PFN press release dated June 15th, 2016).

The Surface Exploration Program consists of geological mapping, mineral prospecting, sampling, assaying, litho-structural studies, drill core review and 3D modelling. The program focus is on areas with indications of higher-grade mineralization that remain under-explored. One such priority area is the surface above the T2 discovery (Figure 1). Two holes drilled at T2 in early 2015 (see PFN press release dated March 11, 2015) intersected higher-grade, near-surface PGM mineralization, under cover and in the footwall, to the east of the main mineralized trend at Dana North Zone. Highlights include 2.1 g/t PGM/16m from 184m downhole in Hole 1 and 2.8 g/t PGM/18m from 137m downhole in Hole 2. The T2 Discovery Mineralization remains open, up-dip to surface, at depth and east along the strike for 2 km, to the Pardo Zone (Figure 1). Furthermore, the Pardo Zone itself is mineralized, but also remains under explored.

Elsewhere at River Valley, the Surface Exploration Program will cover areas from which previous grab samples, grading up to 60 g/t PGM were taken, and that remain under explored. Previous and new assay data will be integrated with litho-structural data, in order to define the extents of potentially high-grade mineralization, within the main mineralized trend on the basal contact (i.e., Contact Style Mineralization) and internally within the River Valley Intrusion (i.e., Reef Type Mineralization) (Figure 2). In addition, the previous discovery of the Spade Zone (see PFN press release dated June 19, 2012) is to be examined for controls on the apparent thickening of the mineralization at that location (see Azen-Spade Zone in Figure 1). Overall, the Surface Exploration Program, as currently planned, requires 3-4 weeks of field time, from about mid-July to mid-September. The results of the Surface Exploration Program will be used to further guide and refine planning of the fall Diamond Drill Program.

The fall 2016 Diamond Drill Program, as currently planned, consists of four drill holes for a total of 1000m, at the T2 Discovery (Figure 3). The holes are designed to expand the near-surface, high-grade PGM mineralization up-dip, down-dip and eastward along the strike. Pending successful drill results, six additional holes are planned for drilling at T2, in early 2017. That program would then be followed by a Delineation Drill Program, for resource modelling. In addition, drill testing would be carried out on other priority T2-like targets (currently 9 in total) developed along the 12 km strike length of the River Valley PGM deposit, on PFN’s property (Figure 4).

About Pacific North West Capital Corp.

Pacific North West Capital Corp. (TSX.V: PFN; OTCQB: PAWEF; Frankfurt: PJ7) is a mineral exploration company, focused on the Discovery, Exploration and Development of one of Canada’s largest primary Platinum Group Metals (PGM) deposits, the River Valley PGM Project, located in the Sudbury region of Northern Ontario. The Company also has a Lithium Division (Li), with 5 Li Projects.

Management’s corporate philosophy is to be a Project Generator, Explorer and Project Operator, with the objective of Option/Joint Venturing its projects, with major and junior mining companies, through to production. Pacific North West Capital Corp. is a member of the International Metals Group of Companies. For further information on the Company and its projects, please visit: www.PFNCapital.com


Click Image To View Full Size

Figure 1. River Valley location (inset) and property geology maps, showing the position of the Target T2 discovery, at the north end of the PGM deposit (red), between the Dana North Zone to the east and the Pardo Zone to the north. Note: location of the Azen-Spade Zone discovered in 2012 but never followed up.


Click Image To View Full Size

Figure 2. Geological map showing the distribution of surface grab samples with grades of >=1 g/t Pd + Pt (PGM).


Click Image To View Full Size

Figure 3. Map view of 3D models, for the T2 discovery, showing drill collar locations and holes traces, of the four holes planned for drilling in the fall of 2016. In this view, the T2 feature is 100-150m below surface, whereas Dana North is at surface. Holes labelled T2-01 and T2-02 are T2 discovery holes, drilled in early 2015. The T2-03 to T2-03 distance = 50m.


Click Image To View Full Size

Figure 4. Map showing location of three T2-like drill targets at the north end of the River Valley PGM deposit.

About PFN’s Platinum Group Metals Division

River Valley is one of Canada’s largest undeveloped primary PGM deposit.

Achievements to date and future plans for River Valley are outlined below as follows:

  1. 1.PFN currently has 100% ownership in the River Valley Project, subject to a 3% NSR, with options to buy down
  2. 2.Completed exploration and development programs, on the River Valley property, include more than 600 holes drilled since year 2000 and several mineral resource estimates and metallurgical studies;
  3. 3.Results for the current (2012) mineral resource estimate are below;
  4. 4.2015 Diamond Drill Program confirms new high grade T2 discovery
  5. 5.Exploration and development plans outlined for 2016
  6. 6.Ongoing strategic partner search for River Valley Project
  7. 7.Results for the most recent Mineral Resource Estimate are summarized below:

– Prepared by Tetra Tech (Wardrop)

– High Confidence: Measured plus Indicated = 72% of total

– Reported on PdEq basis: Pd=40% & Pt=20% of the Payable Metals

– Pd to Pt ratio = 2.5:1; Cu to Ni ratio = 3:1

– High Grade potential, particularly in the north part of River Valley deposit

– Resources under evaluation for development potential as open pit mining operation


Click Image To View Full Size


Click Image To View Full Size

  1. 8.Results for the 2015 Discovery Drill Program on the T2 target are as follows:

-Drill hole intercepts much higher than the average grade of current mineral resource estimate

-Possible new mineralized zone at the north end of the River Valley deposit

-Show potential to take the River Valley PGM Project in a new direction

-More drilling required


Click Image To View Full Size

  1. 9. Exploration and Development Plans for 2016

-Mineral prospecting and geological mapping on surface

-Drill programs targeted to add more higher grade

-Geological interpretation and 2D/3D modelling of all drill and surface results

-Strategic Partner Search for River Valley

About PFN’s Lithium Division

The company’s Lithium Division will focus on the Discovery, Exploration and Development of Lithium Projects in Canada. In the United States, the company will use its wholly owned U.S.A subsidiary to Acquire and Develop projects in active mining camps in Nevada, Arizona and California.

Management believes that these New Age Metals, Lithium, PGMs and Rare Earths, have robust macro trends with surging demands and limited supply. Going forward, this new division will explore for the minerals needed to fuel the demand for energy storage and other core 21st Century Technologies.

The company has a growing portfolio of Lithium projects. The Clayton Valley Forks Li Project in Nevada is a recent Lithium Brine Project, acquired by the company (PFN News Releases April 25th, 2016 and May 9th, 2016). The company also has several Hard Rock Lithium projects in Canada. To date the company has acquired 4 Hard Rock Lithium projects in the Winnipeg River Pegmatite Field, in southeast Manitoba (April 21st 2016, May24th, 2016, June 15th, 2016 and July 5th, 2016). This Pegmatite Field hosts the giant Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying capacities since 1969. Today, the Tanco Mine is focused on the mining and production of Cesium Formate, a completion fluid for the petroleum industry. PFN’s Li projects are strategically situated to further explore this Pegmatite Field. Presently, the company is the largest claim holder in the Winnipeg River Pegmatite Field.

Lithium and Platinum Group Metal prices have improved drastically in recent months. Lithium supplies remain in deficit, relative to their demand. Both metals groups are used for the expanding worldwide automobile industry (conventional and electric). In the case of PGMs, demand is increasing for Autocatalysts, a key component for reducing toxic emissions for automotive, gasoline and diesel engines. Regarding Lithium, there is an ever increasing demand for batteries in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.

QUALIFIED PERSON

The contents contained herein that relates to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for Pacific Northwest Capital. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content.

On behalf of the Board of Directors

Harry Barr

Chairman and CEO

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.

Cautionary Note Regarding Forward Looking Statements. This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

$2.5 billion Omagine pearl project set for 2017 in Oman $OMAG.us

Posted by AGORACOM-JC at 8:16 AM on Wednesday, July 13th, 2016
r

  • Construction work on the multi-billion dollar Omagine Project is scheduled to begin in 2017 and should be complete by 2024, according to the Ministry of Tourism (MoT)
  • Multi-Billion Dollar Development Agreement with the Government of the Sultanate of Oman
  • Omagine Owns 60%; Royal Court Affairs 25%; Consolidated Contractors Owns 15%
  • Developed on 245 acres of beachfront land on Gulf of Oman
  • Estimated cost approximately $2.5 Billion

July 12, 2016 | 10:01 PM

by Rahul Das/rahuldas@timesofoman.com

Sharelines

$2.5 billion Omagine project set for 2017

Omagine Project to create more than 1,000 jobs for #Omanis

The Omagine Project will have three hotels, a boutique mall, an open air amphitheatre, exhibition venues, a harbour and marina area, offices and more than 2,000 residences.

Muscat: Construction work on the multi-billion dollar Omagine Project is scheduled to begin in 2017 and should be complete by 2024, according to the Ministry of Tourism (MoT).

Located in Seeb, the project features seven pearl-shaped buildings which will host hotels, offices, residences and entertainment venues on one million square metres of land, the MoT said.

The project is expected to create more than 1,000 jobs for nationals when it is completed in seven year’s time. The slump in global oil prices has meant project managers have been seeking further funding globally, according to Omagine chairman Frank J. Drohan.

Speaking to Times of Oman, Drohan said that they are in advanced discussions with several institutional and private entities in the United States, Europe and China to finance the project as a quite rational response to the present regional banking environment. “Other companies and governments regionally are quite rationally also reaching out to the international financial markets,” he said.

In a quarterly report submitted to the US Securities and Exchange Commission (SEC) in March 2016, Omagine LLC, reported that “with the sudden fall in deposits from oil sales, bank liquidity at local banking institutions in the GCC came under immense pressure as deposits fell dramatically while simultaneously governments became large borrowers (where they were not before).

“Such sudden and large government borrowings from commercial banking institutions began to crowd out commercial borrowing capacity of private companies. The largest banks of course weathered this storm more handily than the mid-size or smaller banks,” the statement said.

Drohan said that the longer term project finance is needed only after the detailed master planning and architectural design is completed. “And that is the reason we are working hard on many fronts with Consolidated Contractors Co (CCC) and other investors in Oman and the GCC, Europe, the US and China to make that happen,” he said.

Drohan also said CCC may still be the general contractor for the Omagine Project with a United States, European or China based contractor working as a substantial sub-contractor under CCC Oman.

It was in October 2014, Omagine LLC, signed a development agreement with the Government of Oman for the development of a $2.5 billion real-estate and tourism project known as the Omagine Project.

In March 2015 the Ministry of Finance in Oman ratified the development agreement.

In July 2015 the development rights to the 245 acres of beachfront land were registered with the government of Oman.

The actual contract agreement is now fully drafted and is ready to be signed. “During the past month, I and our staff have been in Washington, Europe and Beijing with investors and to negotiate the terms of a construction sub-contract to CCC,” he told Times of Oman.

In May, Omagine Inc. also sponsored The World Summit on Innovation & Entrepreneurship (WSIE) at the United Nations Headquarters in New York City.

The Omagine Project will have three hotels (which will include serviced apartments and chalets), a boutique mall, an open air amphitheatre, exhibition venues, a harbour and marina area, offices, more than 2,000 residences and a large number of cafes, restaurants and entertainment venues. The Omagine Project will have seven pearl shaped buildings, each with a different theme, such as the Oman Pearl, Innovation Pearl, Energy Pearl, Culture Pearl and Earth, Sea and Sky Pearls.

The Pearls will feature a wide range of tourism experiences, simulations, games, interactive demonstrations, multi-media presentations and a planetarium and a multiplex.