Posted by AGORACOM
at 12:35 PM on Wednesday, March 31st, 2021
Fabled Silver Gold Corp. (“Fabled” or the “Company”) (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) is pleased to announce updates of diamond drill holes SM20-07 – 11 from the on-going 8,000 meter drill program on the “Santa Maria” Property in Parral, Mexico.
Peter J. Hawley, CEO and President, remarks, “We are heading into areas never explored before, with new ideas to test our structure-on-structure theory over the Property. Hole SM20-07 intercepted two broad zones of northwest trending, never seen before, semi-massive marcasite, (pyrite) in hornfels, and to the east 225 meters, we tried to cross the major C1 regional north – south fault in the center of the Property.”
Hole SM20-07 was drilled at -50 degrees and 246.0 meters in length from same drill station as hole SM20-03 at an angle of 210 degree azimuth and designed to test the tail end of two northwest trending IP anomalies labeled IPSM-08. Northwest trending anomalies or structures have not been seen previously on the Property.
Drill results clearly demonstrate the cause of the two conductive zones, with a 19.90 meter intersection from 145.50 – 165.30 meters and a second 78 meter interval from 167 – 245 meters of greenish hornfels, (a metamorphic rock formed by the contact between a mudstone / shale (clay rich rock) and a hot igneous body, usually at shallow depths), with strong chlorite / sericite alteration with 25-30% marcasite, (white iron pyrite, FeS2). See Plan View of Drill Hole Locations below.
Drill hole SM20-08 was collared approximately 225 meters east of the drill station for holes SM20-4, 5, and 6. See drill plan below as designed to drill thru the interpreted main north – south structure at an oblique angle and hit the Santa Maria structure.
The hole was drilled with NQ size core, 1 7/8th inches at -50 degrees for a premature total depth of 64.18 meters where the hole was terminated by major faulting and could not be advanced further.
Drill hole SM20-08B was a re-entry into hole SM20-08 with larger PQ size drill core, 3.36 inches in diameter, to compensate for the massive broken structure, which allowed the hole to be drilled to a final depth of 234 meters and was successful in reaching its target. Currently all sampled drill core of interest is being tested. See Cross Section View below.
Drill hole SM20-09 was drilled with PQ size core from the collar, in anticipation of bad ground conditions, at -60 degrees for a targeted depth of -250 meters to hit the Santa Maria structure, as encountered in hole 8B and was terminated prematurely at 231 meters where not only did the hole collapse due to the fault but jammed the drill rods and a section of the drill string and bit was left in the hole.
Drill hole SM20-10 was designed to follow up on the hole SM20-8B targeted intercept but also to replace the loss of hole SM20-09.
HoleSM20-10 was drilled with PQ size core from the collar, in anticipation of bad ground conditions as seen previously, at -70 degrees for a targeted depth of -220 meters to hit the Santa Maria structure, as encountered in hole SM20-08B. The hole was successful in its objective and as such stopped at a total depth of 227.5 meters. Currently all sampled drill core of interest is being tested. See Cross Section View below.
Drill hole SM20-11 is located approximately 125 meters northeast of drill hole station 4 for holes SM20-08, 8B, 9, and 10. See Plan View of Drill Stations below.
The hole was drilled due west, 270 degrees, at -60 degrees targeting the intercept of the major north – south C1 regional structure at the right angle, 90 degree. The hole was successfully completed and drilled to a total depth of 258 meters.
New roads and drill pads have been completed and the drill is currently being moved to drill station 6 for hole SM20-12. See Plan View of Drill Stations below.
Peter Hawley continues, “We are systematically taking what was previously thought of as simple E-W high grade structure and re-evaluating, with numerous successes to date, in order to develop our new concept which is seen below in the “Plan View of Drill Station Locations over IP Anomalies”. Over the next few drill holes to test blue sky potential in the north of the Property should add to the new data base as we start to dial in the focus of the remaining drill program. With the Company well funded we will continue to explore all targets as they present themselves.”
Posted by AGORACOM
at 11:30 AM on Wednesday, March 31st, 2021
Gross proceeds of $2,975,000
1st of 2 Tranches
New Age Metals Inc. (TSXV:NAM) (OTC:NMTLF) (FSE:P7J) (“NAM” or the “Company“), is pleased to announce that further to the news release of March 26, 2021, the Company has completed the first tranche of its private placement (“Private Placement”) raising gross proceeds of $2,975,000.
The Company has issued an aggregate of 18,593,750 units (“Units”) at a purchase price of $0.16 per Unit for aggregate gross proceeds of $2,975,000. Eric Sprott has closed 18,281,250 of the Units for $2,925,000.
Each Unit consisted of one common share and one half of one share purchase warrant, whereby each whole warrant entitles the holder to purchase one additional common share at a purchase price of $0.20 per share at any time up to March 31, 2023.
Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 18,281,250 Units pursuant to the Private Placement for total consideration of $2,925,000. Prior to the Private Placement, Mr. Sprott beneficially owned or controlled 20,250,000 Common Shares and 17,125,000 Warrants of the Company. As a result of the Private Placement, Mr. Sprott beneficially owns and controls 38,531,250 Common Shares and 26,265,625 Warrants representing approximately 19.9% of the issued and outstanding shares of the Company on a non-diluted basis and approximately 29.5% of the issued and outstanding shares of the Company on a partially diluted basis assuming the exercise of Warrants.
The Units were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time.
A copy of the applicable early warning report will appear on the Company’s profile on SEDAR and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
The second tranche of 12,968,750 Units is to be completed five business days after the Company has obtained shareholder approval (from disinterested shareholders) for the new control person that would be created once Mr. Sprott’s beneficial ownership exceeds 20%. The completion of the second tranche is conditional upon such shareholder approval being obtained by August 30, 2021. Mr. Sprott will provide an undertaking not to exercise his warrants (if doing so would result in his non-diluted ownership interest exceeding 20%) until the Company has obtained such shareholder approval.
Mr. Sprott is an insider of the Company and, as such, his participation in the Private Placement is a related-party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSX Venture Exchange Policy 5.9 (which incorporates by reference MI 61-101). The Company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to related party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Units to be purchased on behalf of Mr. Sprott nor the consideration to be paid by him exceeds 25% of the Company’s market capitalization.
In connection with the first tranche of the Private Placement, the Company has paid finder fees to Mackie Research Capital Corporation of $193,375 in cash and issued 1,208,594 warrants. Each such warrant will be exercisable for two years at an exercise price of $0.16 per Unit (being the same as the per Unit price under the Private Placement).
Posted by AGORACOM
at 10:39 AM on Wednesday, March 31st, 2021
St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE: 85G1) would like to provide an update on the volcanic activities from the Geldingadalir volcano located on its Reykjanes provisional mineral exploration license in Iceland.
The volcano has been the site of a minor eruption for approximately 11 days at the time of this release. St-Georges’ geologists, working under the Company’s subsidiary, Iceland Resources EHF, have taken a few kilos of rocks to obtain additional mineral and metallurgic information about what is now some of the youngest rocks on earth. The material coming out of the volcano has been rich in Magnesium, Iron, and Titanium. This appears to be preliminarily corroborated by observing the samples collected by St-Georges submitted to a Portable X-Ray Fluorescence (XRF) reading.
According to the Icelandic government volcanologists, this is about to change with an influx of copper and potentially precious metals with lava originating from a different depth of the mantle.
The Icelandic Meteorological Office (IMO) published a summary of the activities, commenting that: “(…) t he lava is basaltic and highly fluid with little explosive activity. It is a very small eruption, and the lava flow has been steady at 5-7 m3/s since its onset. Currently the extent of the lava field is within Geldingadalur but if the eruption keeps ongoing at a similar rate, it is modeled that the lava will flow east towards Merardalur valley. If the volcano continues to erupt it could eventually end up being categorized as a shield volcano. Shield volcanoes are generally formed over long time periods with lava fields extending from a few to several kilometers around its source. There is no way to tell how long the eruption will last.
The current magma is rich in MgO (8.5%) which indicates that it is from depths of around 17-20 km. There has been constant gas pollution close to the eruption site, spatially determined by local wind conditions. Gases can accumulate to life-threatening levels in certain weather conditions. There have been no indications of significant tectonic movements since the eruption started. There is currently no indication of new openings at other locations along the magma injection path.(…)”.
St-Georges and Iceland Resources would like to invite visiting geologists, volcanologists, journalists, and avid volcano tourists to get in touch with us. We can help organize visits to the site and provide geological support for scientific initiatives relating to the recent volcanic eruptions. We are also planning small group visits to the Thor Gold Project for people interested. Please send us a quick note via our website at www.st-georgescorp.com
About the Reykjanes exploration license
The Reykjanes provisional license is part of the license application for active exploration work that is being processed by the Icelandic authorities. It covers the area of the active volcano. It is located in the Reykjanes Peninsula near the towns of Keflavik and Grindavik and the International Airport. Readers can see the prospect area in the map provided by ISOR in Figure 1 below.
Posted by AGORACOM-JC
at 8:51 AM on Wednesday, March 31st, 2021
Received up to $2 Million in funding from the Ontario Together Fund to accelerate commercial production of the BioCloud units.
To date $1.2 Million has been received from the Ontario Together Fund. In order to receive the final balance of $800,000 certain conditions are required to be met, which includes the increase of manufacturing capacity to 20,000 units per month.
Confirming that it has met the conditions precedent for the final $800,000 in funding
TORONTO , March 31, 2021 – Kontrol Technologies Corp.(CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) (” Kontrol Technologies ” or ” Kontrol ” or ” Company “) is pleased to provide an update on its manufacturing capacity as it relates to various milestones for the Ontario Together Fund.
As a follow up to the press release dated February 4 th , 2021, CEM Specialties Inc. (” CEMSI “), a wholly owned subsidiary of Kontrol Technologies, received up to $2 Million in funding from the Ontario Together Fund to accelerate commercial production of the BioCloud units. To date $1.2 Million has been received from the Ontario Together Fund. In order to receive the final balance of $800,000 certain conditions are required to be met, which includes the increase of manufacturing capacity to 20,000 units per month.
The Company will deliver a final package to the Ontario Together Fund in the next week, confirming that it has met the conditions precedent for the final $800,000 in funding, including the required manufacturing capacity. Manufacturing capacity is the ability to manufacture a certain number of units per month and is not a sales forecast. The final $800,000 funding balance is issued at the discretion of the Ontario Together Fund following the Company’s submission.
“As we initiated commercial production, we have made continuous improvements to the manufacturing of BioCloud,” says Paul Ghezzi , CEO of Kontrol. “Some of these improvements relate to a reduction in sizing of internal systems, reduction of electronic boards and overall streamlining of installation. This is part of the normal process of moving from individual prototypes to commercial production. We have done so in a short period of time with great effort from the entire team.”
“We have made great progress with BioCloud manufacturing,” says Jeff Stewart , CEO of OES Inc. “Through our internal capacity and the addition of manufacturing capacity with our Ontario based strategic manufacturing partners we are pleased to be able to deliver up to 20,000 units per month in manufacturing capacity.”
Global Supply Chain
Currently the global supply chain for the majority of components used in the manufacturing of BioCloud appears to be stabilizing. However, lead times on electronic components and semi-conductors, which are subject to competition from the automotive and mobile industry, have been a challenge. The Company reviews the global supply chain with its manufacturing partner OES Inc. on a routine basis. The Company has no control over potential delays and lead times in the global supply chain.
“I am proud of our team which has worked tirelessly to design and develop a technology with the primary goal of assisting in the reduction of transmittance of the SARS-CoV-2 virus and its variants through earlier detection,” says Gary Saunders , President of Kontrol BioCloud. “In addition to vaccines, technologies which can provide early alerting systems are important to help us create safer spaces and get back to normal across the global economy.”
BioCloud Reagent and Antibodies
The BioCloud unit operates to detect SARS-CoV-2, and other viruses, bacteria and fungi from the air through the use of continuous air sampling and a biological response process. The primary component which makes up the BioCloud proprietary reagent is a specifically formulated combination of antibodies. The antibodies, which are purchased from third party manufacturers, are combined, and tested by independent labs for the reaction to and detection of the SARS-CoV-2 virus.
The Company’s patented antibody cooling chamber utilizes a Peltier element technology to ensure accurate and controlled temperatures are maintained for the entire life cycle of the antibodies. In addition, the Company deploys refrigerated packaging to ensure a specific temperature range is maintained during transportation and shipping of its reagent and antibodies.
The Company continues to review various antibodies from third party manufacturers with the goal to reduce the costs of BioCloud consumables and create a large supply pool to choose from as part of its overall supply chain management.
Posted by AGORACOM-JC
at 6:45 PM on Tuesday, March 30th, 2021
Very few Junior Mining company achieve the level of success Terry Lynch, CEO is creating at Chilean Metals, and he is just getting started.
Having recently acquired a transformative asset in the NIsk Battery Metals property that includes a resource, Chilean suddenly found themselves with a company making asset taking the attention away from their other high quality exploration properties.
Management astutely identified and rapidly created a solution that supports not only Chilean assets, but its shareholders as well. By creating individual companies for each asset, this allows them to represent themselves in their respective markets, and unlock value for shareholders.
Have a seat and listen to this great interview with terry Lynch, CEO of Chilean Metals and soon to be Power Nickel, and Consolidated Gold and Silver.
