Posted by AGORACOM
at 12:47 PM on Thursday, October 15th, 2020
TORONTO, ON / ACCESSWIRE / October 15, 2020 / Gratomic Inc. (“GRAT” or the “Company”) (TSXV:GRAT)(OTC Pink:CBULF)(FRANKFURT:CB81)(WKN:A143MR) is pleased to announce the arrival of its custom drying and dewatering equipment to its Aukam mine site, allowing the company to complete construction of its on-site graphite processing plant. The equipment was shipped from China and was recently received at Walvis Bay Port in Namibia.
“Covid-19 has certainly posed a challenge in getting our equipment on site. Our team’s hard work and dedication has prevailed against impossible odds and allowed us to get these vital pieces of equipment on site and stay on track with construction timelines. We are now ready to take Gratomic and its Aukam project forward to realize its full potential,” says Arno Brand, President & CEO.
Aukam staff will install the remaining equipment over the coming weeks, bringing the plant into its commissioning phase. The team will then begin testing and calibrating the new equipment to optimize its operations. Product sampling will be conducted in order to set processing parameters to conform to industry standard, quality control and quality assurance requirements. Graphite that is processed through the plant during this calibration phase will be cumulatively bagged and graded as part of the fulfilment for current purchase agreements and future sales.
The new equipment consists of one thickener tank, a cyclone, filter press, rotary dryer, and various slurry pumps and accessories.
The thickener tank, which will be assembled on site, boasts a standing height of 4 meters high by 6 meters wide and will be able to accommodate up to 64 tonnes of graphite per cycle.
Once assembled, the hydro cyclone will allow slurry to flow continuously between the Rod mill and the cyclone, size classifying the graphite between undersized and oversized material. Oversized material will be diverted back to the rod mill for increased resonance time. The undersized material will be sent to a separate holding tank that sends the material to the mixing tanks, and then the flotation columns.
The vertical flotation columns will have the capacity to treat up to 4 tonnes of graphite slurry per hour. From the columns, the processed graphite will settle into the thickener tank. Graphite will flow from the second tank into the filter press. This process is designed to remove as much water as possible for recycling before entering the chipper that will break up the caked mineral material.
Once positioned, the custom-built 39 foot rotary drier, with a drying capacity of up to 5 tonnes per hour, will remove any excessive moisture content from the graphite through evaporation before it is bagged and tagged for customers.
The entire system has been designed to accommodate graphite derived from Gratomic’s Aukam Graphite Project. It has been designed for expansion and the Company intends to add an air classification unit onto the existing plant in late 2020, or early 2021. Plant parameters will be set based on mineral grading and finished product requirements calculated during the calibration phase and will include end product requirements from our current and future customers.
Gratomic wishes to emphasize that no Preliminary Economic Analysis (“PEA”), Preliminary Feasibility Study or Feasibility Study has been completed to support any level of production. In fact, no mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property.
The Company appointed Dr. Ian Flint to complete a preliminary economic assessment (PEA) on the Aukam Processing plant. The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendation at a PEA level of comfort relating to the scale up of the existing processing plant to a commercial scale processing facility that will provide the desired concentrate grades and production rates. The PEA requires that 4 drill holes be completed on the Property and the results be included in the PEA. Unfortunately, due to travel restrictions resulting from Covid-19, the Company has been unable to get a geologist on the Property to complete the drilling so that the PEA can be finalized. It is anticipated that a geologist will soon be able to arrive on the Property to complete the drilling. A preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
Gratomic wishes to emphasize that the supply of graphite pursuant to any off-take or supply agreement referred to in this Press Release is conditional on Gratomic being able to bring the Aukam project into a production phase, and for any graphite being produced to meet certain technical and mineralization requirements. Gratomic continues to move its business towards production and as part of its business plan, expects to obtain a National Instrument 43-101 Standards of Disclosure for Mineral Projects technical report to help it ascertain the economics of the Aukam project as soon as drilling can be completed on the Property.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on mine to market commercialization of carbon-neutral, high purity vein graphite. The Company is focused on producing low-cost, eco-friendly graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among its peers, promising to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking of the nearly negligible carbon footprint on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic’s Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in late 2020. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
The Company anticipates full operational capabilities in late 2020 and aims to transition to an open pit mine as early as 2021.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Posted by AGORACOM
at 12:16 PM on Thursday, October 15th, 2020
(CSE: TRIP)
Red Light Holland’s iMicrodose packs are Available on Shelves in the Netherlands (18+) and online plus their Science and Innovation Division, Scarlette Lillie, is taking notice in the Longevity field, via their Jinfiniti arrangement.
It appears as if, Scarlette Lillie Science and Innovation’s goal is to support science and medical research without needing to raise 100’s millions of dollars while focusing on the digital experience and potential opt-in user data collection.
Red Light Holland and Scarlette Lillie is focused on education and information plus adult-responsible use of their iMicrodose packs.
Joined the Medical Psychedelics Working Group
a consortium of drug science experts, leading academics and researchers, policy specialists and industry partners
Scarlette Lillie and Jinfiniti Precision Medicine
This relationship with Jinfiniti may allow Scarlette Lillie to add a novel component to expected clinical studies for psilocybin and truffles.
The knowledge that comes from this has the potential to not only influence the outcome of clinical studies but can also potentially lead to novel treatments for several disorders.
Virtual Reality Shopping Experience
Red Light Holland is creating a virtual reality shopping experience module, intended to explain the effects of microdosing of magic truffles on the human brain, as well as a virtual reality avatar that is centered around Red Light Holland’s brand.
The VR Module is expected to be completed in Q4 2020,
Educating and enabling individuals to make reasoned, informed decisions with respect to magic truffles and other psychedelic substances,
Enabling Red Light Holland to gather valuable data on user experience of synesthesia, loss of autonomy and suggestibility to inform further study and research in the psychedelic space.
The VR Avatar, which is expected to be completed in Q3 2020, is expected to assist Red Light Holland’s larger efforts towards reducing the stigma associated with, among other things, magic truffles and other psychedelic substances.
Red Light Holland’s Growth Potential
TRIP is established to grow, distribute and market a magic truffles to the legal, recreational market within the Netherlands
Red Light Holland has reached a Distribution Arrangement for iMicrodose Packs with a total of 8 Smart Shops Netherlands and expects that number to grow rapidly.
Red Light Holland iMicrodose Packs are currently available in 3 Smartshops and the rest are expected to be in Smartshops by the end of October, 2020
Red Light Holland iMicrodose Packs are available to the Netherlands, Adult market online at www.iMicrodose.nl and are offering a unique subscription model.
The sales and growth evolution of Red Light is just beginning
“This is just another example on how aggressive we are by immediately increasing the ability for consumers, all over the Netherlands, to purchase our iMicrodose packs powered by Red Light Holland. ” Todd Shapiro, CEO and Director of Red Light Holland.
Red Light (to the best of our research) is the first public company selling psychedelic products on the market
Responsibility Toward Consumption
Responsible use requires users who are at a minimum 18 years old.
Red light is a self-regulated company and in accordance with the highest standards and compliance with all applicable laws.
Red Light Holland’s team includes Bruce Linton as their Chair of the Advisory Board, Tony Clement (former Canadian Health Minister) and World Famous Entertainer Russell Peters.
Red Light Holland has been featured in vice.com – www.Hightimes.com – the New York Observer – and mentioned on The Joe Rogan Experience.
Former Top Rated Host, CEO Todd Shapiro is clearly using his deep rooted celebrity connections to get incredible exposure on the Company.
This earned media to such a large audience is impressive for any small cap Company
Red Light Holland’s current market cap is approximately 20 million and appears to be low when comparing them to their peers, considering they currently have a product on shelves, while supporting science and innovation intelligently.
Posted by AGORACOM
at 3:13 PM on Tuesday, October 13th, 2020
DGO: TSXV
Durango Resources (TSX.V-DGO) (Frankfurt-86A1) (OTCQB -ATOXF) is an exploration company planning on making a gold discovery in the Windfall Lake gold camp of Quebec.
Durango’s land in the Camp demonstrates a high probability of having gold in the ground. The Trove and East Barry properties have seen multiple methods of exploration helping to guide and pinpoint areas that require drilling for gold. Durango has been guided expertly by both management, its technical team and its peers for the discoveries previously made in the Windfall camp. Recent step out drilling expanded high grade gold at Windfall, with 2.4m of 391g/t gold Windfall.
Osisko dominates the land position and are responsible for the discovery of the Windfall deposit, which has expanded into a resource of 1.2 million ounces of high-grade gold and helped to create a new gold camp in Canada. Their deposit is world-class scale and Osisko shows no sign of slowing down exploration anywhere on their sizeable land position as they continue with 19 drills operating in 2020 and surround Durango with over 2.8 million ounces of gold.
Durango may be in the shadows of a larger entity, but that doesn’t make their properties any less valuable. Durango doesn’t need to be bigger to be better and Trove and East Barry properties show high probability of having gold in multiple areas. Trove only needs to be drilled to determine how much.
Durango is backed by a regionally experienced technical staff that has made their own discoveries in the Windfall camp, and management that have purposely supported the company for this strategic land to have its moment. Durango aims to prove that bigger isn’t always better, and that small cap exploration companies can make market grabbing discoveries. 2020 is the year Durango makes a discovery.
Here are the 3 things you need to know
The Trove Property is Drill Ready.
100% Owned Trove property located in Windfall Lake, Quebec has been systematically explored in preparation of a drill program. There have been many technical studies completed on the property and they all point in the same direction, that Trove is drill ready. There are currently 15 high-priority drill locations already prepared. Surrounded by Osisko Mining Inc. (TSX: OSK) Trove has excellent exploration potential, especially as Osisko drilled along the Trove border in 5 separate areas in 2018, encountering mineralization in all and having one hole in particular that stood out with 5 grams of gold in the sample. The Trove property is strategically located directly south of the Retriever and Black Dog projects of Osisko and hosts two major gold bearing faults. Osisko has identified gold on multiple sides of the Trove property through recent drilling.
Durango’s exploration team has completed its initial 2020 reconnaissance program and has prepared Trove for the 2020 summer drill program. Durango has identified 15 drill targets in 4 different zones on the Trove Property to test 3 separate studies all pointing toward a potential gold discovery.
Durango Resources may not have the size to match Osisko, they do however have the exploration potential to compete in the discovery department with Trove and East Barry, that border Osisko property boundaries.
2. The Windfall Camp is Not Done Making Discoveries
Quebec is ranked 4th best jurisdiction for mining investment in the world (Fraser Institute, 2019), due largely to the exploration success Osisko, and other companies have contributed to the area. Durango wholly owns its Trove project, surrounded by gold deposits hosting over 2.8M ounces of gold and is strategically located directly south of the Retriever and Black Dog projects. The Trove property hosts two major gold bearing faults which is prime real estate for holding economic gold deposits.
This from a 2017 Northern Miner Article describing mineralization in the area:
….“While we expect the Windfall deposit itself to double in size from the 1.6 million oz. already defined, it is the adjacent targets, including Fox, Lynx and Black Dog, that have caught our attention, suggesting the Urban-Barry project area could represent a district-scale play in Quebec,” Carew added.
The Windfall Camp is not done making gold discoveries.
3. Technical Committee and Management Support
You can’t make a discovery without people and know how to do it. The Windfall Camp has proven there is tremendous amounts of gold buried in the ground, with lots more to be found. Gold, however, doesn’t find itself. For that you need the people and know how to understand where to start looking before committing hard earned shareholder capital on expensive, sometimes, failed drill campaigns. This is where Dale Ginn gets to help guide Durango. An experienced mining executive and geologist for over 30 years participated in numerous gold and base metal discoveries, many of which are in production today, including the Gladiator Deposit by Bonterra in the Windfall Camp. Dale has the prerequisite experience to coordinate and define an exploration program leading up to a discovery. He has done it before and may accomplish again with Durango.
Lastly, shareholders are thankful to have Marcy Kiesman at the helm of Durango. Ms. Kiesman has routinely supported the company and owns close to 16% of the company. Ms. Kiesman is one of the leading ladies in the exploration business today and has put together an all-female management team positioning Durango toward Discovery.
Posted by AGORACOM
at 10:26 AM on Thursday, October 8th, 2020
Arctic Star Exploration is currently exploiting the Diagras Diamond Property, NWT. Adjoined by both Diavik and Ekati Mines, Arctic has combined known data on Diagras with modern Gravity and EM geophysical survey techniques to delineate viable Kimberlite targets. Arctic Star is currently preparing a drill program for 2020. CLICK HERE FOR MORE INFO
The 102.39-carat stone went to an unnamed telephone bidder for HK$122 million, or nearly $20.9 million in Canadian money.
HONG KONG, CHINA — An exceedingly rare 102-carat flawless white diamond sold for nearly $20.9 million at an online auction in Hong Kong on Monday evening.
Described as “completely flawless” by auctioneer Sotheby’s, the 102.39-carat stone went to an unnamed telephone bidder for HK$122 million in an auction held online because of the coronavirus pandemic.
“The buyer of this diamond has bagged a bargain,” said Tobias Kormind, managing director of online jeweller 77 Diamonds.
During a time of economic uncertainty, he said, “savvy investors are currently falling over themselves to acquire alternative safe haven assets like diamonds, property and gold”.
Only seven other white diamonds bigger than 100 carats and of the same quality have ever gone under the hammer.
The stone was sold without a reserve price, meaning the diamond went to the highest bidder and did not need to meet a minimum threshold, the first time in auction history that a diamond of this calibre has been offered that way.
The tactic can be risky but can also generate a buzz that sellers hope will elevate the final price.
In this case, the seller’s move was “a brave decision that has come back to bite them”, according to Kormind.
Originally a 271-carat rough stone, the gem was discovered in the now-closed Victor Mine in northern Ontario in 2018.
“(The) diamond is the best of the best when it comes to exceptional white diamonds and it is difficult to overstate its rarity and beauty,” said Sotheby’s worldwide jewellery chairman Gary Schuler ahead of the sale.
In November 2017, the largest diamond ever presented at auction, with more than 163.41 carats, sold in Geneva for more than $33.8 million, fees and commissions included — a global record in this category.
But it is not a record overall for a diamond: in April 2017, the giant “Pink Star” pink diamond sold for $71.2 million at a Sotheby’s auction in Hong Kong.
Posted by AGORACOM
at 10:10 AM on Thursday, October 8th, 2020
Vancouver, BC – TheNewswire – October 8, 2020 – Durango Resources Inc. (TSXV:DGO) (Frankfurt-86A1) (OTC:ATOXF), (the ” Company ” or ” Durango “) is pleased to report that further to its news release dated September 11, 2020, mechanical trenching has identified additional areas of interest on its Trove Property at Windfall Lake, Quebec
Figure 1 – Mineralized contact volcanic-sediment with carbonate alteration
The new outcrops are located within 100 metres from the first series of planned drill holes on the Trove Property which are designed to test continuity of mineralized trend between two drill intersections of Osisko Mining Inc. (TSX-OSK) ( OSK-UB-18-083 intersected 1.03 g/t Au and 5.13 g/t Au, OSK-UB-18-085 intersected 1.85 g/t Au) as well as near surface geophysical targets with coincident till with gold grains and gold anomalies in the rock samples. The new outcrop is in proximity of the northeast shear zone and is a contact zone of the volcanics and sediments. Mineralization was observed in a felsic dike with pyrite in quartz veining and carbonate alteration on the newly stripped outcrops.
Durango’s technical team recently discovered a northeast trending shear zone on the Trove Property as announced on September 11, 2020. In the Windfall Lake deposit area, the volcanic rocks are intruded by a series of felsic dikes near contacts between volcanic and sediments which host quartz veins with pyrite. The team has also confirmed an important regional deformation northeast shear with carbonate alteration in the wall rock zones that delineate the structural domains.
Mineralized 3-5% fine disseminated pyrite felsic dyke in volcanic near contact with sediment
Additional mineralization was also seen in the nearby sediments represented by pyrite, pyrrhotite and molybdenite in alteration zone (silica, biotite, chlorite and carbonate) including to quartz-carbonate veins.
Channel samples were taken from this new area of interest and have been sent for assay to the SGS Canada lab in Val d’Or, Quebec.
Marcy Kiesman, CEO of Durango, stated, “I would like to thank Durango’s exploration crew for such a great job on Phase I of our fall exploration program at Windfall Lake. The results in the mechanical trenching this month have been eye opening with the discovery of a sizable northeast shear zone, multiple locations with quartz veining and pyrite at surface and important geological indicators near the initial drill targets. The results to date highlight both the quality of our team to quickly perform grass roots work and the potential of our Trove Property at Windfall Lake. We look forward to the analysis of the field data in hopes to continue exploration and drilling into the winter months.”
The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The Trove Property has not yet been subject to an NI-43-101 report.
Trove, Quebec
Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX-OSK), in the Windfall Lake area between Val d’Or and Chibougamau, Quebec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and is undertaking its inaugural drill program.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Windfall Lake gold camp in the Abitibi region of Quebec , Canada.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com .
Posted by AGORACOM
at 8:36 AM on Thursday, October 8th, 2020
The Kingsway project is located within the highly prospective Gander Gold Belt
Along strike to the northeast of Newfound Gold Corp’s gold discovery
CSAMT survey consists of 20 line kilometres tarfeting an area of gold anomalies.
TORONTO, Oct. 08, 2020 (GLOBE NEWSWIRE) Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that a CSAMT geophysical survey is currently underway at its 77km2 Kingsway Project near Gander Newfoundland. The Kingsway project is located within the highly prospective Gander Gold Belt along strike to the northeast of Newfound Gold Corp’s gold discovery announced earlier this year.
Controlled Source Audio Magnetotellurics (CSAMT) is an electrical geophysical technique that measures resistivity in the subsurface down to depths in excess of 500 metres. The resistivity profiles can be used to target silicification associated with gold mineralization as well as deep structures such as the Appleton Fault Zone.
The CSAMT survey is being undertaken by Clearview Geophysics and consists of 20 line kilometres covering an area of complex structure and significant gold anomalies. The structure is dominated by the Appleton Fault Zone and associated splays and cross faults outlined by a recently completed structural assessment of the district. Geochemical anomalies from previous work covering the survey area include gold values from below detection (0.5ppb) to 800ppb (0.8g/t) in soil, 111ppb to 1,073 ppb (1.1g/t) in till and 7 to 60 gold grains recovered from the till samples.
“We are excited to get the CSAMT survey underway as it will aid us in effectively targeting potential gold mineralization at depth along the Appleton Fault Zone and associated structures,” said Roger Moss, President and CEO of the Company. “It will complement the property wide soil sampling and VLF-EM surveys that are expected to produce anomalies for further follow up by the upcoming initial drilling program.“
The Kingsway gold project covers 77 square kilometres of highly prospective ground in the Gander gold district of Newfoundland in Eastern Canada. The project is located immediately adjacent to New Found Gold’s Queensway project and just 4.5 kilometres along strike to the northeast of their recent discovery of 92.86 g/t gold over 19 metres. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property). Most importantly, a recent structural interpretation of the district indicates the project covers approximately 22 kilometres of strike length of crustal scale faults, including the Dog Bay Line and Appleton Fault zone. The Appleton Fault Zone is known to be closely associated with many of the gold occurrences on New Found Gold’s Queensway project. As such, LabGold is the only other company in the district with ground covering this major crustal structure with a demonstrated association with gold mineralization. Prior gold exploration in the area covered by the Kingsway project has shown significant gold anomalies along the Appleton fault zone suggesting it remains a fertile structure for associated gold.
LabGold also announces the granting of 450,000 options to an officer and a consultant of the Company. The options are exercisable at a price of $0.45 for five years.
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The property is along strike to the northeast of New Found Gold’s discovery of 92.86 g/t Au over 19.0 metres on their Queensway property. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property). In early July 2020, the Company signed an option agreement to acquire a third license to add to the property package which now covers approximately 77 km2. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water.
The Hopedale gold property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Initial work by Labrador Gold has identified a 3 kilometre mineralized section of the northern portion of the belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold.
The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the exploration to date show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend.
The Company has 93,294,175 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
Posted by AGORACOM
at 11:53 AM on Wednesday, October 7th, 2020
Osisko Mining Inc. announced results from the continuing drill program at its 100-per-cent-owned Windfall gold project located in the Abitibi greenstone belt in Urban township, Eeyou Istchee James Bay, Quebec, where step out drilling has expanded high grade gold at Windfall, with 2.4m of 391g/t gold Windfall.
What a great intercept, proof that there is gold at Windfall, and Durango is aiming to prove its own deposits with initial drilling having begun on their 100% owned property.
Durango’s Trove property borders Osisko and is 100% owned
Collars of several holes that have intersected gold are 15km from Osiskos results
Durango has already begun drilling Trove, where Osisko has previously returned 5g/t gold 300 meters from the Trove border with Osisko
Do your DD and read below why Durango might be the next High Grade gold intercept at Windfall Lake
Durango Begins Drilling on Trove Property at Windfall Lake, QC
Vancouver, BC – October 6, 2020 – Durango Resources Inc. (TSXV:DGO) (Frankfurt-86A1) (OTC:ATOXF), (the ” Company ” or ” Durango “) is pleased to report that further to its news release dated September 17, 2020, drilling is now underway on the Trove Property at Windfall Lake, Quebec.
Due to the limited outcrops in the area, Durango has relied to date on surface geochemistry and induced polarization (” IP “) for planning its 2020 drill program. New mechanical stripping on the northeast extremity of the Trove Property has strongly contributed to confirm and more accurately define carbonate-altered pyrite mineralized zones.
Durango has designed the 2020 drill program to test the lithological contacts between the units associated structures and shear zones. The initial drill holes on the Trove Property are planned to confirm a mineralized trend between two drill intersections ( OSK-UB-18-083 intersected 1.03 g/t Au and 5.13 g/t Au, OSK-UB-18-085 intersected 1.85 g/t Au) and to test near surface geophysical targets based on chargeability highs of the IP anomalies conducted in 2019 and coincident with gold in till.
Marcy Kiesman, CEO of Durango, stated, “Durango’s exploration team and drilling crew are excited that drilling has commenced after months of preparation. Surface results to date on the Trove Property have been very promising with the discovery of a sizable northeast shear zone, contact, alteration and quartz veining at surface near the initial drill targets. Within the Trove Property limits, there are no recorded drill holes, so our team is looking forward to drill testing the geophysical anomalies, shear zones and vein structures on the Trove Property.”
The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The Trove Property has not yet been subject to an NI-43-101 report.
Trove, Quebec
Durango owns 100% interest in the Trove claims, which are surrounded by Osisko Mining Inc. (TSX: OSK), in the Windfall Lake area between Val d’Or and Chibougamau, Quebec. The 1,185 hectare property is compelling due to the coincidence of gold found in tills coinciding with magnetic highs, several Induced Polarization anomalies and two faults crosscutting the property. The fault systems north and south of the Trove, control gold mineralization elsewhere, indicating the Trove has excellent exploration potential. Durango received all the final drill permits for the Trove property in September 2019 and is ready to undertake its inaugural drill program.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company is positioned for discovery with a 100% interest in a strategically located group of properties in the Windfall Lake gold camp in the Abitibi region of Quebec , Canada.
Posted by AGORACOM
at 9:58 AM on Wednesday, October 7th, 2020
By Ellsworth Dickson
Nickel is a most useful base metal. Because rust never sleeps, some 75% of nickel produced is used to make stainless steel, most being what is known as Class 2 nickel. Class 1 nickel, or pure nickel, is used for making steel alloys, storage batteries for laptops and cell phones and, of increasing importance, electric vehicle (EV) batteries.
Nickel is part of the cathode in a Li-ion battery. It is these Li-ion batteries that are kick-starting a sea change in the nickel market.
Combining all uses, nickel demand grew 9.4% during 2018 and 2018 – outperforming all other major base metals – making it a US$20 billion per year industry. In 2018, Canadian exports of nickel-based products totaled $4.2 billion with Canada ranking fifth in the world for mine production.
Nickel prices are currently trading around US$14,000/tonne, or US$6.42/lb, up more than 30% from March lows and near its highest levels in November 2019.
And while stainless steel and other nickel usages continue to steadily grow as the world’s population increases, it is the EV market that is expected to see a huge growth in nickel demand, according to senior miner Glencore. For the first time, in 2017, sales of EVs passed the 1 million mark; however, this is just the beginning.
According to the International Energy Agency, (IEA), sales of electric cars topped 2.1 million globally in 2019, surpassing 2018 – already a another record year – to boost the stock to 7.2 million electric cars, 47% of which were in China. It’s hard to believe that in 2010, there were only 17,000 EVs on the road. Electric cars, which accounted for 2.6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase.
In their recent report, the IEA stated that nine countries had more than 100,000 electric cars on the road. At least 20 countries reached market shares above 1%. However, this growth has sometimes been disrupted by various events and circumstances that negatively affected EV sales.
Deloitte’s outlook shows EV sales reaching 21 million vehicles in 2030 as the cost of manufacturing batteries falls significantly and range anxiety becomes less of a concern. Another challenge for would-be EV buyers is availability of charging stations out of town and, in tow, lacking of charging stations in older apartment buildings.
This huge increase in EV sales will be even more jump-started with the introduction of electric pickup trucks, SUVs, delivery trucks and semi tractor trailers. This could cause a supply crunch for Class 1 nickel.
Interestingly, the IEA noted that electric two/three-wheelers will continue to represent the lion’s share of the total electric vehicle fleet, as this category is most suited to rapid transition to electric drive. The future electric two/three-wheeler fleet is concentrated in China, India and the ten countries of ASEAN.
Wood Mackenzie predicts an increase in nickel demand for EVs from 128 kt in 2019 to 265 kt in 2025 and 1.23 Mt in 2040, increasing nickel battery demand from 4% in 2018 to 31% by 2040.
It has been estimated that by 2025 the world need almost 1 million tonnes per year of new nickel supply. By 2030, 2.5 million tonnes, or double that of today, is required.
Wood Mackenzie is forecasting an average annual nickel deficit of 60,000 tonnes through to 2027 – a situation that bodes well for nickel explorers, developers and producers.
About one-half of the world’s nickel supply is suitable for use in batteries such as the nickel sulphide mines in Sudbury, Voisey’s Bay and Russia.
Those companies involved in discovering and mining nickel deposits are participating in a massive unstoppable global event with the electrification of the world’s vehicles – a good place to be.
Tartisan Nickel Corp. [TN-CSE; TTSRF-OTC; A2D-FSE] has favourably positioned itself to participate in the growing electric vehicle sector with its advanced-stage Kenbridge nickel-copper-cobalt project in northwestern Ontario.
While copper and cobalt are important for the EV battery and vehicle market, Elon Musk of Tesla Motors recently stated that nickel remains a key ingredient to its rapidly improving EV battery technology. Stainless steel production still accounts for the majority of nickel usage; however, commodity research firm Roskill has stated that the current EV nickel demand will grow from 4% to 15-20% of the market.
Longer term, California Governor Gavin Newsom just signed an executive order that will ban the sale of new gas-powered passengers cars starting in 2025.
Tartisan’s Kenbridge Project, located near Atikwa Lake in the Kenora-Fort Frances area, has undergone an updated mineral resource estimate.
The updated estimates were done for pit constrained and out-of-pit nickel, copper, and cobalt resources. Total Measured & Indicated Mineral Resources, based on a Net Smelter Return (NSR) cut-off value of CDN$15/tonne for pit constrained Mineral Resources and CDN$6/tonne NSR for out-of-pit Mineral Resources is 7.5 Mt at 0.58% nickel and 0.32% copper for a total of 95 Mlb of contained nickel. An additional 0.985 Mt at 1.0% nickel and 0.62% copper (22 Mlb contained nickel) were calculated as Inferred Resources. Pit constrained Measured & Indicated Resources total 5.27 Mt of 0.45% nickel, 0.26% copper and 0.009% cobalt at an NSR cut-off value of CDN$15/tonne. The out-of-pit Measured & Indicated Resources total 2.23 Mt of 0.86% nickel; 0.45% copper; and 0.006% cobalt. Inferred Mineral Resources out-of-pit total 0.985 Mt at 1.00% nickel, 0.62% copper and 0.003% cobalt, at an NSR cut-off value of CDN$60/tonne.
Mark Appleby, President and CEO, notes that the deposit is open to depth with the highest nickel grades having a strong down-plunge orientation such as hole KB07-180 that returned 2.95% nickel and 0.82% copper over 21.5 metres, including 7.2% nickel and 0.67% copper over 5.5 metres.
Highlights of an Updated PEA were: average nickel recovery life-of-mine was 86%; recovered nickel was 84.6 Mlb; NPV7.5% pre-tax was $253M; and IRR% pre-tax was 65%.
The Kenbridge property has good access to roads and power. It has a shaft to a depth of 622 metres, with level stations at 45-metre intervals below the shaft collar and two levels developed at 107 metres and 152 metres below the shaft collar.
Tartisan Nickel has planned a surface exploration and definition drilling plan, in addition to geotechnical, metallurgical and environmental work to advance the project in the upcoming 2020 winter season and into summer 2021.
The company also owns equity stakes in Eloro Resources Ltd. that is exploring the 99%-optioned ISKA ISKA Project, a gold-silver-zinc-lead target with a 3,500-metre underground drilling program underway in the Potosi district, Bolivia, and the low-sulphidation epithermal 82%-owned La Victoria gold-silver project in Peru.
Tartisan is a shareholder in Class 1 Nickel and Technologies that holds the past-producing Alexo-Kelex Dundonald nickel project near Timmins, Ontario in which Tartisan has a 0.5% NSR. The property hosts an estimated total NI 43-101 compliant Indicated Mineral Resources of 571.7k tonnes averaging 0.77% nickel plus Inferred Resources.
Being a prospect generator, Tartisan spun out the Alexco-Kelex Project to Class 1 Nickel as well as the La Victoria Project to Eloro.
Tartisan is a shareholder in Peruvian Metals Corp. that is operating a toll mill in Peru and announced an exploration and bulk sampling program on the high-grade gold-silver-copper Palta Dorada Project.
Tartisan also has a 100% interest in the Sill Lake silver-lead project near Sault Ste. Marie, Ontario.
Tartisan’s investment portfolio is in excess of $7 million which can provide funds for its activities and avoids share dilution through further share issuances. The company has 101.6 million shares outstanding.
Though its acquisitions and investments, Tartisan Nickel is poised to benefit from the burgeoning EV battery sector as well as its precious metal and base metal prospects.
Garibaldi Resources Corp. [GGI-TSXV; GGIFF-OTC; RQM-FSE] has been following up its 2017 magmatic nickel massive sulphide discovery in the Golden Triangle region of northwestern British Columbia.
Located on Nickel Mountain, the flagship E&L deposit hosts nickel, copper, cobalt, platinum, palladium gold and silver. The latest drill results from the 2020 program have extended the strike length of the mineralized E&L system from 200 metres to over 650 metres to the east, where the intrusion remains open.
The 100%-owned project is the Golden Triangle’s first magmatic nickel-copper-rich massive sulphide system in the heart of the prolific Eskay Camp. The 2017 discovery drill hole EL-17-14 intersected 8.3% nickel, 4.2% copper, 0.19% cobalt, 1.96 g/t platinum, 4.5 g/t palladium, 1.1 g/t gold and 11.1 g/t silver over 16.75 metres starting 100.4 metres downhole, within a broader 40.4-metre core length highlighted by 3.9% nickel and 2.4% copper.
In February, 2019, Garibaldi confirmed an even shallower new zone (Northeast Zone) with drill hole EL-18-33 that returned 7.7% nickel and 2.95% copper over 4.8 metres within a broader interval of 49 metres grading 1.34% nickel and 0.89% copper (core length) plus cobalt, platinum, palladium, gold and silver credits.
Diamond drilling continues to build out on the persistent widespread nickel-copper mineralization, which includes massive sulphides featuring top-tier nickel-copper grades in addition to palladium, platinum, cobalt, gold, silver and strategic PGE (platinum group element) rare metals, including rhodium.
Hole EL-20-88, collared 350 metres east of pivotal hole EL-19-80, intersected 142.79 metres of mineralized taxitic gabbro and olivine pyroxenite along trend of the E&L system. This large step-out hole exhibited an E&L geochemical signature which expanded the strike length of the E&L gabbroic intrusion to over 650 metres within a 2-km structural corridor that remains untested and open.
Hole El-20-89 has produced the widest mineralized intercept so far from 71.34 metres to 223 metres returning nickel-copper mineralization over 151.6 metres grading 0.56% nickel and 0.61% copper. This intersect included 80.53 metres of 0.88% nickel and 0.85% copper, which expanded the northeastern massive sulphide zone six metres south, the LDZ 15 metres north and the Second Chamber 45 metres west.
Semi-massive veins along the contact edge with sediments assayed 0.33 metres (100.54 to 100.87 m) of 6.87% nickel and 1.69% copper, and 0.15 metres (147.48 to 147.63 m) of 3.04% nickel and 1.62% copper.
Garibaldi has drilled 10 additional holes at the E&L project on Nickel Mountain and is up to hole 94 so far this season. With new geochemical and geophysical targets located at depth, the immediate goal of the drill program is to follow the steeply-plunging E&L gabbro to the east. The conductors detected off hole will be drill tested for mineralization.
Garibaldi owns 100% of more than 200 km2 in Eskay Camp, including newly discovered high-grade gold quartz vein system at Casper, located 15 km north of Nickel Mountain. Assays are pending. The company also has four projects in Mexico.
Garibaldi’s nickel discovery is a unique development in the Golden Triangle with excellent potential for significant expansion at a time of increasing nickel demand from the electric vehicle market.
Just 12 km north of the E&L nickel deposit is Garibaldi’s 100%-owned Casper high-grade gold quartz vein discovery. The Casper gold vein is a strategic low elevation target (420 metres) within a km of road access and hydroelectric power.
Field crews collected 165 samples within 250 metres north of and 250 metres south of the northwest-southeast-striking Casper vein. High-grade grab samples at Casper were reported up to 249 g/t gold and assays for 86 Casper channel samples have been released with up to 92 g/t gold and 5.69 g/t gold over 52 metres.
Mechanical trenching at the Casper gold quartz vein has further uncovered the high-grade vein over more than 120 metres, from the initial 43 metres of hand trenching exposing the discovery.
The quartz vein remains open with mineralized rock samples extending along trend for 330 metres within a 500-metre gold-in-soil and MMI (mobile metal ion) geochemical anomaly.
The latest assays from 61 channel sample assays returned gold grades ranging from 0.676 g/t gold up to 93.29 g/t gold from a channel sample that contained visible gold.
The company has 116 million shares outstanding.
Sama Resources Inc. [SME-TSXV; SAMMF-OTC.PK] is a Canada-based mineral exploration and development company with projects in West Africa, in particular, the Samapleu nickel-copper-cobalt-platinum group metals project in Côte d’Ivoire (Ivory Coast).
Sama’s projects are located approximately 600 km northwest of Abidjan in Côte d’Ivoire and adjacent to the Guinean border in West Africa.
In 2010, Sama discovered nickel-copper-PGE mineralization, including veins and lenses of high grades material near surface at numerous locations within the then discovered Yacouba intrusive complex.
In October, 2017, Sama announced that it had entered into a binding term sheet in view of forming a strategic partnership with HPX TechCo Inc., a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder, in order to develop the Samapleu Project. HPX is spending $18 million on the project.
Since March 2010, Sama has performed surface IP and Mag surveys as well as Airborne Mag-Radiometric and HTEM surveys and 388 boreholes for a total of 54,000 metres of drilling. Mineral resources assessments have been completed at one site, the Samapleu deposit, aiming for a modest scale Ni-Cu open pit mining and processing operation, while continuing to explore newly discovered prospective ground. Sama’s objective is to delineate massive sulphide reservoirs that could be the source of these high-grade nickel–copper-cobalt-palladium lenses. The newly discovered Yacouba complex can be compared to other world class bases metals camps like Jinchuan in China and Voisey’s Bay in Canada, etc.
Highlights of a Preliminary Economic Assessment at Samapleu, include average annual production of 3,900 tonnes of carbonyl nickel powder, 8,400 tonnes of carbonyl iron powder and 14,100 tonnes of copper concentrate over a 20-year mine life. Capital costs are estimated to be $282 million, including a contingency of $37 million with operational costs of $23.96/tonne milled.
Pre-tax Net Present Value (8% discount rate) is $615 million and an Internal Rate of Return of 32.5%. After-tax NPV (8% discount rate) of $391 million and an after-tax IRR of 27.2%.
Geophysical activities have resumed with downhole electromagnetic surveys planned in four deep drill holes at the Yepleu target zone and in one deep drill hole at the Bounta target zone. The holes at Yepleu and Bounta were drilled in the early months of 2020, with both zones part of the large Yacouba Ultramafic-Mafic intrusive complex discovered by Sama in 2010.
Future production will be managed by a JV controlled 66⅔% by Sama Nickel Corp. a wholly-owned subsidiary of Sama Resources, and 33⅓% by SODEMI. Sama Resources has $2.5 million in its treasury and holds $12.4 million in securities with no debt. The company has 216,466,410 shares outstanding.
The Samapleu nickel-copper-cobalt-platinum group metals project is located in mining-friendly West Africa, home to a number of successful mining operations. The polymetallic project hosts a suite of metals – nickel-copper-cobalt-platinum group metals – all of which are currently in demand.
Posted by AGORACOM
at 8:28 AM on Wednesday, October 7th, 2020
Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) is focused on the exploration and development of graphite for the new green economy. Lomiko has been monitoring actions by government in Canada and the USA that are focused on reducing dependence on Chinese supply of graphite, lithium and other electric vehicle battery materials. Canada and the USA have worked closely and confirmed supply agreements between the two countries.
This press release features multimedia. View the full release here:
“…the United States is 100 percent reliant on imports for graphite, which is used to make advanced batteries for cellphones, laptops, and hybrid and electric cars. China produces over 60 percent of the world’s graphite and almost all of the world’s production of high-purity graphite needed for rechargeable batteries.”
“(i) the United States develops secure critical minerals supply chains that do not depend on resources or processing from foreign adversaries;
(ii) the United States establishes, expands, and strengthens commercially viable critical minerals mining and minerals processing capabilities; and
(iii) the United States develops globally competitive, substantial, and resilient domestic commercial supply chain capabilities for critical minerals mining and processing.”
In September, Congressmen Lance Gooden (R-TX) and Vicente Gonzalez (D-TX) recently introduced a bill that seeks to decrease the U.S.’s dependence on China for critical metals. The bill, dubbed the Reclaiming American Rare Earths (RARE) Act, aims to establish tax incentives for domestic production of rare earths.
The Congressmen statement sounds the alarm regarding critical metals production: “The United States is more dependent than ever on the importation of the resources that drive our economy, enable us to build advanced technology, and ensure our national security,” Gooden’s office said in a release. “Thirty-five of these rare earth minerals are designated by the Department of Interior as ‘critical’, and we source fourteen of them entirely from foreign suppliers. China is a leading supplier for twenty-two of the thirty-five. The RARE Act is specifically designed to change that.”
Earlier this year, Sen. Ted Cruz introduced similar legislation, dubbed the Onshoring Rare Earths Act of 2020, or ORE Act. Further, on December 18, 2019 Canada announced that it had joined the U.S.-led multilateral Energy Resource Governance Initiative (ERGI). ERGI aims to support secure and resilient supply chains for critical minerals by identifying options to diversify supply chains and facilitate trade and industry connections.
Canada, and especially Quebec, are perfectly situated to supply the U.S. with many of the critical minerals it is seeking to secure due to an extensive selection of mineral projects. Also, strong political and economic ties, a stable political, economic and regulatory environment and a robust metals and mining sector. Of the 35 critical metals identified by the U.S., Canada is a sizable supplier of 13 of such minerals including graphite, lithium and manganese to the U.S. and the second-largest supplier of niobium, tungsten and magnesium. Canada also supplies approximately one quarter of the U.S. uranium needs.
“Initial indications are that La Loutre Graphite Property is high-quality and high-grade and thus worthy of development.” stated A. Paul Gill, CEO. “The only operating graphite mine in North America which is the Imerys Graphite & Carbon at Lac-des-Îles, is 30 miles northwest of La Loutre and has operated for 30 years. It reported proven reserves of 5.2 M Tonnes at a grade of 7.42 % Cg in July 1988 before the start of production.” (Reference: Potentiel de la minéralisation en graphite au Québec, N’Golo Togola, MERN, page 31, Conférence Québec Mines, November 24 2016).
Graphite demand is expected to increase exponentially for the mined natural graphite material, as more is used in the production of spherical graphite for graphite in the anode portion of Electric Vehicle Lithium-ion batteries. The near-term goals of the company are as follows:
1) Complete 100% Acquisition of the Property, currently 80% owned by Lomiko Metals.
2) Complete metallurgy and graphite characterization to confirm li-ion anode grade material.
3) Complete a Technical Report to confirm the extent of the mineralization equals or surpasses the nearby Imerys Mine, owned by international mining conglomerate.
A “technical report” means a report prepared and filed in accordance with this Instrument and Form 43-101F1 Technical Report, and includes, in summary form, all material scientific and technical information in respect of the subject property as of the effective date of the technical report;
4) Complete Preliminary Economic Assessment (PEA)
A PEA means a study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources.
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), accept responsibility for the adequacy or accuracy of this release.
