In Mining Minute Episode 40, KWG Resources CEO Frank Smeenk discusses Marten Falls with respect to Ontario’s Ring of Fire.
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Posted byat 5:30 PM on Thursday, October 20th, 2016
Posted byat 9:41 AM on Tuesday, October 18th, 2016
Posted byat 4:31 PM on Monday, October 17th, 2016
Eloro Resources’ Acquisition of a 100% Interest in the La Victoria Gold/Silver Property Closes in Escrow $TTC.ca
Posted byat 11:00 AM on Monday, October 17th, 2016
- Eloro has closed the acquisition of a 100% interest in the La Victoria Gold/Silver Property in escrow, pending recording and registration of all applicable transfers with the proper authorities in Peru
Toronto, Ontario – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro”) and Tartisan Resources Corp. (CSE:TTC) (“Tartisan”) are pleased to announce that, in accordance with the terms of the previously announced purchase and sale agreement (the “Agreement”), Eloro has closed the acquisition of a 100% interest in the La Victoria Gold/Silver Property (“La Victoria” or the “Property”) in escrow, pending recording and registration of all applicable transfers with the proper authorities in Peru.
Under the terms of the Agreement (see news release dated August 5, 2016), Eloro has issued Tartisan 6,000,000 common shares and 3,000,000 common share purchase warrants with limited transferability, and paid Tartisan C$250,000 (less adjustments as specified in the Agreement). Eloro owes one further payment of C$100,000, payable or on before July 17, 2017. The share certificates, warrants, funds, promissory note and other closing documents have been delivered into escrow and will be released from escrow forthwith after satisfactory completion of the recording and registration of: i) all transfers of the property interests, with the exception of the San Markito mineral concession, which will be transferred at such time that Eloro makes the final C$100,000 payment, and ii) the receipt of the Declaración de Impacto Ambiental (“DIA”) project environmental permit for the Property, to be approved by the Peruvian Ministry of the Environment.
Pursuant to the terms of the acquisition Eloro granted Tartisan a 2% royalty interest (the “Royalty”) on the Property, half of which can be repurchased by Eloro for C$3 million to reduce the Royalty to 1%.
All securities issued by Eloro pursuant to the Agreement are subject to a statutory 4-month hold period and are subject to a lock-up agreement whereby Tartisan will be restricted from transferring securities of Eloro for a period of 18 months following the closing date, and with limited transferability for a period of four and one half years, all as detailed in the August 5, 2016 new release.
About Tartisan Resources Corp.
Tartisan is a Canadian exploration and development company focused on mineral exploration and development of precious and base metals properties in Canada and Peru.
About Eloro Resources Ltd.
Eloro is an exploration and mine development company which recently acquired a 100% undivided interest in the La Victoria property, located in the prolific North-Central Mineral Belt of Peru. The La Victoria Property consists of properties totalling eight mining concessions encompassing approximately 35.9 square kilometres together with 3 mineral claims totalling 15 square kilometers. The Property is within 50 kilometres of several producing gold mines, with three producers visible from the property. Infrastructure in the area is good with access to road, water and electricity and is located at an altitude that ranges from 3,100 m to 4,200 m above sea level. Eloro also holds a portfolio of gold and base-metal properties in northern and western Quebec.
For further information please contact: Thomas G. Larsen, President and CEO of Eloro or Jorge Estepa, Vice-President of Eloro at (416) 868-9168 or Mark Appleby, CEO of Tartisan Resources at (416) 804-0280.
Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Neither the TSXV, CSE 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 release.
Posted byat 9:04 AM on Monday, October 17th, 2016
Posted byat 2:22 PM on Friday, October 14th, 2016
Posted byat 9:46 AM on Friday, October 14th, 2016
- Tudor Has Discovered a New Gold Zone at Treaty Creek: 110 M of 0.909 g/t Gold, Upper 316 M of Hole Yet to Be Assayed
- Specimens from the Electrum property average 27,092 gm/tonne silver and 248 gm/tonne gold. Read More
- Tudor has now completed the previously announced Magnetotelluric survey and has commenced drilling Read More
WHY AMERICAN CREEK RESOURCES?
- American Creek has exceptional precious metal properties throughout British Columbia including two of the most prospective projects found in B.C.’s Golden Triangle; the Electrum and Treaty Creek properties.
- The Electrum property is geologically similar to the nearby Brucejack (going into production in 2017) and the nearby Premier Mine (past producer).
- Mineralization in the Treaty Creek claims area lies within the same broad hydrothermal system that generated the several deposits on the Seabridge Gold KSM and the Pretivm Brucejack properties that lie immediately southwest of the Treaty Creek claims.Read Our Recent Blog
- So far over 130 million ounces of gold, 800 million ounces of silver and 20 billion pounds of copper (all categories included), representing one of the greatest concentrations of metal value on the planet, have been delineated within the geological system shared by KSM, Brucejack, and Treaty Creek.
The Electrum is located in British Columbia’s prolific Golden Triangle; one of the richest areas of mineralization in the world with one new mine having come online in 2015 (Imperial Mines Red Chris) and another scheduled for 2017 (Pretium Brucejack) and at least three more world-class mining projects headed toward production.
The property has a rich history with some of the highest grade hand-mined ore mined in North America (1,661 g/t Au with 2,596 Ag)combined with excellent logistics. The property is located directly between two high-grade veining gold/silver mines; the past producing Silbak Premier mine and Pretiums high-grade Brucejack mine (production in 2017). All three lie within the Iskut mineral district (a particularly prolific part of the Canadian Cordillera) with numerous geological similarities between them.
On May 11th 2016 American Creek formed a joint venture agreement with Tudor Gold wherein American Creek retains 40% of the property.Tudor Gold will be the operator while both companies will work together to develop the property.This partnership is very beneficial for American Creek as its flagship project will be able to advance at a much greater pace due to the geological expertise, experience, resources, management, and exposure that Tudor Gold brings to the table.
The Electrum Property holds significant potential which led to a JV agreement with Tudor Goldwhen considering its high-grade nature combined with the exceptional logistics in place.
- Located in the prolific Golden Triangle of northwestern British Columbia, an area encompassing mineral rich belts that host more than 43 past producing mines including Eskay Creek, Silbak Premier, Granduc and Big Missouri. It is a hotbed of activity with one new mine having come online in 2015 (Imperial Mines Red Chris) and another scheduled for 2017 (Pretium Brucejack) and at least three more world-class mining projects headed toward production.
- Located in a particularly rich valley with 4 past producing commercial mines and a 5th in the adjacent valley.
- Includes the historic East Gold Mine that had intermittent small-scale production of approximately 46 tonnes of ore with grades averaging 1,661 grams of gold per tonne and 2,596 grams of silver per tonne (roughly 50oz gold with 75oz silver).
- Mineralization is believed to be very similar to the silver-gold-base metal veins responsible for the precious metal mineralization found in the Silbak Premier Mine and the Big Missouri mines (located in same extended valley).
- Pretiums Brucejack Summary Report (for exploration) compares itself geologically to the Silbak Premier mine.
- Electrums Summary Report (for exploration) compares itself geologically to the Silbak Premier mine.
- High-grade mineralization at surface has been confirmed extending over a 500 x 500m area. Specimens across that area include numerous bonanza grade results including 1,926 g/t gold with 37,995 g/t silver, 80.96 g/t gold with 80,818 g/t silver, 694 g/t gold with 550 g/t silver, 54.77 g/t gold with 14,903 g/t silver, 615 g/t gold with 616 g/t silver, 395 g/t gold with 46,601 g/t silver, and many more.
- Drilling showed a continuation of high grade intervals at depth including grades up to 440 g/t gold with 400 g/t silver over 0.52m. Other high grade gold intervals include 38.4 g/t over 0.45m, 31.4 g/t over 2m, 29.9 g/t over 2m,16.9 g/t over 1.5m, 16.7 g/t over 1.3m, and 12.3 g/t over 1.9m along with longer intervals of 3 g/t over 26m, 1 g/t over 50m, and 0.5 g/t over 31m. High grade silver intervals at depth including 583g/t over 0.3m, 420 g/t over 0.9m, 384 g/t over 0.7m and 374 g/t over 0.65m were also discovered.
- A very successful small program was run in the fall of 2015 wherein:
o A new approach focusing on high-grade was employed
o New zones of gold / silver mineralization were discovered with drill intersections grading from one up to 14 grams of gold per tonne.
o A better understanding of the high-grade veining system was obtained
o Numerous outcrops were tested on surface. 24 specimens were taken from the Shiny Cliff and averaged 248 g/t gold with 27,092 g/t silver, the highest sample being 1,926 g/t gold with 37,955 g/t silver. Specimens taken from a boulder 20m down slope from the Shiny Cliff averaged 10 g/t gold with 857 g/t silver.
o Eleven specimens were collected along a quartz vein at the Rico showing. The specimens from the structure averaged 54 g/t gold with 11,512 g/t silver, the highest sample being 270 g/t gold with 44,048 g/t silver. Thirteen specimens were collected from a vein on Mine Hill and averaged 6 g/t gold with 522 g/t silver.
o The program proved the Electrum Property has multiple high-grade gold-silver epithermal breccia vein systems and gave us a better understating of their sequencing.
- Excellent logistics including road access, power located 2 km away and bulk tonnage shipping ports and supportive mining town located just40 km away in a mining friendly jurisdiction.
For a short video on the Electrum property; click here.
For a presentation on the 2015 drill program; click here.
Treaty Creek Property
Treaty Creek is located in British Columbia’s prolific Golden Triangle; one of the richest areas of mineralization in the world with one new mine having come online in 2015 (Imperial Mines Red Chris) and another scheduled for 2017 (Pretium Brucejack) and at least three more world-class mining projects headed toward production.
On May 11th 2016 American Creek formed a joint venture agreement with Tudor Gold wherein American Creek retains a carried interest of 20% of the property until a production notice is given. A partner with the expertise, backing, management team, and experience to develop this potential world scale project was sought after by AMK. Tudor Gold meets and exceeds all of those requirements needed to fully realize the potential of Treaty Creek. American Creek will not have to raise money or dilute as development takes place.
Mineralization in the Treaty Creek claims area lies within the same broad hydrothermal system that generated the several deposits on the Seabridge Gold KSM and the Pretivm Brucejack properties that lie immediately southwest of the Treaty Creek claims. So far over 130 million ounces of gold, 800 million ounces of silver and 20 billion pounds of copper (all categories included), representing one of the greatest concentrations of metal value on the planet, have been delineated within the geological system shared by KSM, Brucejack, and Treaty Creek.
Seabridge Gold’s KSM is the world’s largest undeveloped gold/silver project by reserves while Pretium’s Brucejack is the highest grading undeveloped large-scale gold project in the world. KSM has just past the environmental and permitting stage while the Brucejack is in construction phase. Treaty Creek is part of the same large hydrothermal system as it’s neighbours, hosts the same bedrock geology as its neighbours, the same magneto-telluric (MT) anomalies that proved to be large deposits on both Seabridge and Pretivm’s claims, the same major fault system (Sulphurets) that is responsible for KSM’s deposits, and initial exploration and drilling show similar results to initial drilling on KSM.
A recent Government geological report shows Treaty to be “in the right neighbourhood for B.C’s next big deposit”.Treaty meets all three main criteria of the report which states “that is a big game changer for explorers in the region, because it will get them closer to making a discovery”.
The geological markers on Treaty Creek are saying there are great similarities to the KSM / Brucejack / Valley of the Kings and other deposits found within the same hydrothermal system.Now the right partnership is in place to advance the project and realize its potential.
For a 2 minute video on Treaty Creek; click here.
For an in-depth geological video on Treaty Creek; click here.
Gold Hill Property
The Gold Hill property is located in Southern British Columbia near Cranbrook.Logistics are exceptional with forestry roads throughout the property and power nearby. Gold on the Wild Horse River was discovered in the fall of 1863 by American prospectors and one of the West’s greatest gold rushes ensued. The Wild Horse River yielded close to $7,000,000 dollars (48 tonnes of gold or around $2 Billion in today’s dollars). It is believed that a far greater amount was mined and never accounted for.
The river is considered to be one of the greatest gold creeks in the entire province of British Columbia. The majority of the gold taken from the river was located along a 6km stretch between Boulder Creek (upstream) and Brewery Creek (downstream). While most of the gold has been taken from the placer deposits downstream from Gold Hill, there are still placer operations in the area ranging from small scale panning / sluicing to full scale mining operations.
Historic efforts were made to trace the source / sources of the placer gold. This led explorers (including geologists from Cominco) up the Boulder Creek to what is now called the Gold Hill property. This property constitutes a significant portion of the watershed for Boulder Creek including two main areas where gold was recovered by Cominco (along with others). These areas are known as Big Chief and Gold Hill. Both areas are believed to be major contributing sources for the incredible resources found in the Wild Horse River and as such have tremendous potential. While gold was discovered on the property, the gold price in 1900 did not support extensive hard rock exploration at the time.
The property has been overlook and sat dormant for many years. American Creek was very fortunate to acquire a property with such a rich history and such huge potential. The property was acquired in 2015 and hard rock exploration will begin in 2016.
Posted byat 10:46 AM on Thursday, October 13th, 2016