Treaty Creek Project is Fully Funded for the 2020 Exploration Season
Last year Eric Sprott became the largest external investor in Treaty Creek in B.C.’s Golden Triangle. He stated “Treaty Creek has a great shot at having 20 million ounces of gold.†A very successful program was run hitting wide intervals of gold in every drill hole. This year we’ll see if Eric is right as the objective of this year’s program is to develop a resource calculation.
The Goldstorm Zone will host a significantly larger drilling program in 2020
18,000 to 20,000 Meter Drill Program
7-10 Drill Platforms
Four Diamond Drill Rigs
The drill program is designed to extend and to explore the limits of Goldstorm System
The current conceptual model for Goldstorm is 1 billion tonnes at close to 1 gram of gold
The system remains open in all directions and to depth
The best mineralization encountered to date is from the two consecutive 150m step-out holes to the Northeast:
GS-19-42 yield 0.849 g/t Au Eq over 780 m with 1.275 g/t Au Eq over 370.5m
GS-19-47 yield 0.697 g/t Au Eq over 1,081.5m with 0.867 g/t Au Eq over 301.5m
The best Southeast extension:
GS-19-52 yields 0.783 g/t Au Eq over 601.5m
Includes 1.062 g/t Au Eq over 336.0m (NR dated March 3rd, 2020)
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 3/5th and acting as operator. American Creek and Teuton Resources each have a 1/5th interest in the project. American Creek and Teuton are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both American Creek and Teuton have “free ridesâ€.
Treaty Creek Background
The Treaty Creek Project lies in the same hydrothermal system as Pretium’s Brucejack mine and Seabridge’s KSM deposits with far better logistics.
American Creeek Responds to Shareholder Questions Re: COVID-19:
American Creek has received numerous messages from our investor base asking similar questions. We’ve compiled the most common questions with their answers for you below:
Q: Has Covid 19 affected the ability of the office to keep running and will it affect the company’s ability to run programs this year?
The Canadian Minister of Public Safety and Emergency Preparedness has deemed exploration and mining essential services during the current COVID-19 outbreak. This specifically includes mineral exploration and development. At the same time, explorers, miners and those in related businesses need to be in compliance with local regulations with regard to health and safety practices in order to protect workers and others from the COVID-19 virus.
Both American Creek and its JV Partner Tudor Gold are following these guidelines and fully expect to carry on operations in the office and in the field.
Q: Does American Creek have enough money to carry on operations or will it have to raise money this year?
The company raised sufficient money in 2019 to carry on operations through 2020. This currently includes an exploration / drill program on the Dunwell Mine property and may include work on Gold Hill and other properties as well.
Q: How will Covid 19 and the resulting drop in the stock market and economy affect the precious metals industry?
As the stock market and the economy drop there are institutions, brokerage houses, and individuals who will sell everything right across the board to cover themselves. Precious metals or stocks in precious metal companies are no exception. We’ve already seen this taking place. However, gold served its purpose in retaining value as its drop was very minimal compared to the stock markets. It’s governments reactions to the falling stock markets and economy that will have a profound effect on Gold. We are reading that more money has been created out of thin air in the last few weeks than in any time in history. All the gold in the world is worth approximately $9.5 trillion dollars and just the United States alone is creating $2 trillion, plus $4 trillion from the Fed, plus another $2 trillion plus in infrastructure spending (and that’s not counting the $2.5 trillion put into the repo markets). The rest of the world is acting similarly. Inflation (an increase of the monetary supply) does have a direct effect on gold (especially once money velocity increases). We are already seeing the very early stages of this upward pressure as gold futures spiked to a 7.5-year high of $1,742.60 an ounce in overnight trading (April 6-7, 2020). Gold will continue to be volatile but will have greater upward pressure the more governments try to help the economy.
Q: Why should people invest in American Creek when there are so many gold plays out there?
While there are a number of excellent projects out there, even within the Golden Triangle, I’m not aware of one with as much potential poised to be realized over the next two years. Since he’s the expert I’ll refer to Eric Sprott’s comments concerning the Goldstorm on Treaty Creek: “They have a good shot at having 20 million ounces of gold.â€â€œSo that’s the sort of play that I like where man, if the price of gold goes to $1,700 or $2,000 these plays will look so economically viable and the stock will go up so much, and the analogy I use is Seabridge back in 2000. I remember buying it at a dollar…and Seabridge went from $1 to $35 dollars! That is what we are looking for – a dollar to $35 dollars, set you up for life!†American Creek investors benefit through the development of Goldstorm while having no associated costs and while retaining a 1:3 ownership ratio with Tudor Gold. The timing couldn’t be better for a project of this scale and quality. Add to that the development of the Dunwell Mine along with the possibility of programs on our other high potential projects and we feel that we offer people the best possible investment. American Creek is in a position of strength as it has the ability to continue developing core assets and bring value to its shareholders amidst a world of economic uncertainty. We will continue to do all we can to help our shareholders prosper.
Q: What opportunity do you see for the company moving forward?
While this pandemic, and our governments responses to it, will do irreparable damage to each of our finances and liberties, we are extremely optimistic about precious metals, the precious metals production and exploration industry, and specifically American Creek Resources. Rick Rule, CEO of Sprott US Global, was recently quoted saying:
Get ready for a “rip your face off†gold market.
Industry Experts Have Already Pointed Out That:
The drop in oil will lower the costs for producers at the same time that gold is going up.
As gold goes higher and producers start producing tremendous amounts of cash…they are going to want to deploy it back in their own sector…there will be a competing FEEDING FRENZY amongst the producers to go buy the best assets and eventually the worst assets of the gold sector
We believe that the Goldstorm deposit at Treaty Creek is quickly becoming one of most significant assets in the gold industry and will be highly sought after.
About American Creek
American Creek is a Canadian junior mineral exploration company with a strong portfolio of gold and silver properties in British Columbia. Three of those properties are located in the prolific “Golden Triangleâ€; the Treaty Creek and Electrum joint venture projects with Tudor Gold/Walter Storm as well as the 100% owned past producing Dunwell Mine.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at: www.americancreek.com
Treaty Creek Project is Fully Funded for the 2020 Exploration Season
Last year Eric Sprott became the largest external investor in Treaty Creek in B.C.’s Golden Triangle. He stated “Treaty Creek has a great shot at having 20 million ounces of gold.†A very successful program was run hitting wide intervals of gold in every drill hole. This year we’ll see if Eric is right as the objective of this year’s program is to develop a resource calculation.
The Goldstorm Zone will host a significantly larger drilling program in 2020
18,000 to 20,000 Meter Drill Program
7-10 Drill Platforms
Four Diamond Drill Rigs
The drill program is designed to extend and to explore the limits of Goldstorm System
The current conceptual model for Goldstorm is 1 billion tonnes at close to 1 gram of gold
The system remains open in all directions and to depth
The best mineralization encountered to date is from the two consecutive 150m step-out holes to the Northeast:
GS-19-42 yield 0.849 g/t Au Eq over 780 m with 1.275 g/t Au Eq over 370.5m
GS-19-47 yield 0.697 g/t Au Eq over 1,081.5m with 0.867 g/t Au Eq over 301.5m
The best southeast extension:
GS-19-52 yields 0.783 g/t Au Eq over 601.5m
Includes 1.062 g/t Au Eq over 336.0m (NR dated March 3rd, 2020)
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 3/5th and acting as operator. American Creek and Teuton Resources each have a 1/5th interest in the project. American Creek and Teuton are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both American Creek and Teuton have “free rides”.
Treaty Creek Background
The Treaty Creek Project lies in the same hydrothermal system as Pretium’s Brucejack mine and Seabridge’s KSM deposits with far better logistics.
American Creeek Responds to Shareholder Questions Re: COVID-19:
American Creek has received numerous messages from our investor base asking similar questions. We’ve compiled the most common questions with their answers for you below:
Q: Has Covid 19 affected the ability of the office to keep running and will it affect the company’s ability to run programs this year?
The Canadian Minister of Public Safety and Emergency Preparedness has deemed exploration and mining essential services during the current COVID-19 outbreak. This specifically includes mineral exploration and development. At the same time, explorers, miners and those in related businesses need to be in compliance with local regulations with regard to health and safety practices in order to protect workers and others from the COVID-19 virus.
Both American Creek and its JV Partner Tudor Gold are following these guidelines and fully expect to carry on operations in the office and in the field.
Q: Does American Creek have enough money to carry on operations or will it have to raise money this year?
The company raised sufficient money in 2019 to carry on operations through 2020. This currently includes an exploration / drill program on the Dunwell Mine property and may include work on Gold Hill and other properties as well.
Q: How will Covid 19 and the resulting drop in the stock market and economy affect the precious metals industry?
As the stock market and the economy drop there are institutions, brokerage houses, and individuals who will sell everything right across the board to cover themselves. Precious metals or stocks in precious metal companies are no exception. We’ve already seen this taking place. However, gold served its purpose in retaining value as its drop was very minimal compared to the stock markets. It’s governments reactions to the falling stock markets and economy that will have a profound effect on Gold. We are reading that more money has been created out of thin air in the last few weeks than in any time in history. All the gold in the world is worth approximately $9.5 trillion dollars and just the United States alone is creating $2 trillion, plus $4 trillion from the Fed, plus another $2 trillion plus in infrastructure spending (and that’s not counting the $2.5 trillion put into the repo markets). The rest of the world is acting similarly. Inflation (an increase of the monetary supply) does have a direct effect on gold (especially once money velocity increases). We are already seeing the very early stages of this upward pressure as gold futures spiked to a 7.5-year high of $1,742.60 an ounce in overnight trading (April 6-7, 2020). Gold will continue to be volatile but will have greater upward pressure the more governments try to help the economy.
Q: Why should people invest in American Creek when there are so many gold plays out there?
While there are a number of excellent projects out there, even within the Golden Triangle, I’m not aware of one with as much potential poised to be realized over the next two years. Since he’s the expert I’ll refer to Eric Sprott’s comments concerning the Goldstorm on Treaty Creek: “They have a good shot at having 20 million ounces of gold.â€â€œSo that’s the sort of play that I like where man, if the price of gold goes to $1,700 or $2,000 these plays will look so economically viable and the stock will go up so much, and the analogy I use is Seabridge back in 2000. I remember buying it at a dollar…and Seabridge went from $1 to $35 dollars! That is what we are looking for – a dollar to $35 dollars, set you up for life!†American Creek investors benefit through the development of Goldstorm while having no associated costs and while retaining a 1:3 ownership ratio with Tudor Gold. The timing couldn’t be better for a project of this scale and quality. Add to that the development of the Dunwell Mine along with the possibility of programs on our other high potential projects and we feel that we offer people the best possible investment. American Creek is in a position of strength as it has the ability to continue developing core assets and bring value to its shareholders amidst a world of economic uncertainty. We will continue to do all we can to help our shareholders prosper.
Q: What opportunity do you see for the company moving forward?
While this pandemic, and our governments responses to it, will do irreparable damage to each of our finances and liberties, we are extremely optimistic about precious metals, the precious metals production and exploration industry, and specifically American Creek Resources. Rick Rule, CEO of Sprott US Global, was recently quoted saying:
Get ready for a “rip your face off†gold market.
Industry Experts Have Already Pointed Out That:
The drop in oil will lower the costs for producers at the same time that gold is going up.
As gold goes higher and producers start producing tremendous amounts of cash…they are going to want to deploy it back in their own sector…there will be a competing FEEDING FRENZY amongst the producers to go buy the best assets and eventually the worst assets of the gold sector
We believe that the Goldstorm deposit at Treaty Creek is quickly becoming one of most significant assets in the gold industry and will be highly sought after.
About American Creek
American Creek is a Canadian junior mineral exploration company with a strong portfolio of gold and silver properties in British Columbia. Three of those properties are located in the prolific “Golden Triangle”; the Treaty Creek and Electrum joint venture projects with Tudor Gold/Walter Storm as well as the 100% owned past producing Dunwell Mine.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com
Posted by AGORACOM-JC
at 9:14 AM on Friday, April 17th, 2020
KABN Systems North America is in the business of verifying, managing and monetizing online Digital Identity.We’re inviting you to join our online “Ask Me Anything” event with the KABN Systems North America Team
KABN North America empowers users to verify, protect, manage and profit from their Digital Identity. With the recent changes to working, shopping, educating and playing from home, online usage and engagement is growing.
KABN’s business is:
About providing consumers with no-cost tools to manage their Digital Identity and profit from the public data.
Focused online making us Covid-19 resistant.
Relevant to 100% of the online, digital market.
Optimized for commercial partnerships in Financial Services, eCommerce, Education, Government, Healthcare, Technology, Gaming & more.
Built, scalable, proven and in market today.
Aligned with online revenue trends.
Run by a veteran team of successful industry leaders.
In process of a proposed RTO transaction for public listing.
Posted by AGORACOM-JC
at 8:56 AM on Friday, April 17th, 2020
President & COO, Christian Scovenna added: “On behalf of the executive team and our Board of Directors of the company, we commend and applaud our minority shareholder Datametrex and their entire team for securing the rights globally to import COVID-19 test kits.
For many businesses and sectors facing unprecedent times, Datametrex has stepped up as a business leader in helping Canadians during this crisis.”
Toronto, Ontario–(April 17, 2020) – Graph Blockchain Inc. (CSE: GBLC) (“Graph” or “Company“) applauds Datametrex Limited (TSXV: DM) (FSE: D4G) (minority interest shareholder of 26% of the Company) for securing the rights to import COVID-19 detection kit into Canada and other countries around the globe. See Press Release dated April 16, 2020 Health Canada must approve these COVID-19 test kits before they can be used in Canada. Datametrex is currently working with Health Canada to have the approval of these kits fast-tracked.
President & COO, Christian Scovenna added: “On behalf of the executive team and our Board of Directors of the company, we commend and applaud our minority shareholder Datametrex and their entire team for securing the rights globally to import COVID-19 test kits. For many businesses and sectors facing unprecedent times, Datametrex has stepped up as a business leader in helping Canadians during this crisis.”
“We strongly believe these kits will assist Canada in slowing the spread of COVID-19 and ultimately save lives. It’s incredibly rewarding for us to be able to help Canada combat the spread of COVID-19,” said Andrew Ryu, chairman of the company.
These test kits are currently in use in some European and Asian countries outside of South Korea. Approval work has commenced with the Food and Drug Administration (FDA) in the United States to obtain FDA approval and to authorize the tests under the emergency use authorization program run by U.S. Center for Disease Control (CDC).
The Company will be updating the market and its shareholders over the next week(s) with a corporate update.
The Company is not making any express or implied claims that it has the ability to treat the Covid-19 virus at this time.
About Graph Blockchain Inc.
The Company develops leading-edge private blockchain business intelligence and data management solutions that it will implement into a blockchain supported e-commerce marketplace for the sale of psychedelic and ancillary products in legal jurisdictions.
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com).
Govinda Butcher – CEO Phone: (416) 522-6688 Email: [email protected]
OR
Christian Scovenna – President & COO Phone: (416) 453-4708 Email: [email protected]
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Such statements may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM
at 8:41 AM on Friday, April 17th, 2020
Compared to the inferred mineral resources of 1.675 million ounces of gold (20.78 million tonnes grading 2.5 g/t Au) outlined in January 2014
On three separate deposits, Adumbi, Kitenge and Manzako at Imbo, inferred mineral resources have now increased by 49% to 2.5 million ounces of gold (30.65 million tonnes grading 2.54 g/t Au)
Total mineral resources at Loncor’s properties in the Ngayu belt now stand at 3.05 million ounces of inferred mineral resources
TORONTO, April 17, 2020 (GLOBE NEWSWIRE) — Loncor Resources Inc. (“Loncor” or the “Company“) (TSX: “LN”; OTCQB: “LONCF”) is pleased to announce a 49% increase in mineral resources at its Imbo Project (Loncor 76.29%) in the D.R. Congo.
Compared to the inferred mineral resources of 1.675 million ounces of gold (20.78 million tonnes grading 2.5 g/t Au) outlined in January 2014 by independent consultants Roscoe Postle Associates Inc. (“RPAâ€) on three separate deposits, Adumbi, Kitenge and Manzako at Imbo, inferred mineral resources have now increased by 49% to 2.5 million ounces of gold (30.65 million tonnes grading 2.54 g/t Au), this increase coming from the Adumbi deposit. This assessment was undertaken by the Company’s independent geological consultants Minecon Resources and Services Limited (“Mineconâ€). The updated estimate for Adumbi was based on a review of the Adumbi deposit including remodelling, grade capping and considering the CIM requirement for mineral resources to have “reasonable prospects for economic extractionâ€. 76.29% of this updated gold resource is attributable to Loncor via its 76.29% interest in the Imbo Project.
Combined with the Company’s Makapela Project (100%) (see Figure 1), total mineral resources at Loncor’s properties in the Ngayu belt now stand at 3.05 million ounces of inferred mineral resources (33.87 million tonnes grading 2.80 g/t Au) plus 0.614 million ounces of indicated mineral resources (2.205 million tonnes grading 8.66 g/t Au ).
Commenting on today’s inferred mineral resource increase on the Imbo Project, Loncor’s President Peter Cowley said: “We are very encouraged by the significant increase in mineral resources at the Adumbi deposit, which was developed from exploration conducted during the period 2014-17, following on from the recommendations from the independent RPA study in 2014. We now have a clear strategy going forward to increase the mineral resources on the Imbo Project by undertaking additional drilling and advancing the project up the value curve by initiating a Preliminary Economic Assessment on the Adumbi deposit. Significant potential still exists at Adumbi to increase and upgrade mineral resources within the open pit as well as underground potential since the mineralization remains open at depth.â€
As outlined in the Company’s press release dated January 28, 2020, Loncor has been focussing on the Adumbi deposit (see Figures 2 and 3), where Minecon had identified significant resource upside potential from additional exploration evaluation, including drilling that was undertaken during 2017. Much of this exploration work was undertaken following on from the recommendations made by RPA in their 2014 NI 43-101 technical report and included:
Additional Drilling RPA recommended additional drilling at Adumbi to test the down dip/plunge extent of the mineralization. In 2017, four deeper core holes (see Figures 3 and 8) were drilled below the previously outlined RPA inferred resource over a strike length of 400 metres and to a maximum depth of 450 metres below surface. All four holes intersected significant gold mineralization in terms of widths and grade and are summarised below:
Borehole
From(m)
To(m)
Intercept Width(m)
True Width(m)
Grade (g/t) Au
SADD50
434.73
447.42
12.69
10.67
5.51
SADD51
393.43
402.72
9.29
6.54
4.09
SADD52
389.72
401.87
12.15
7.01
3.24
419.15
428.75
9.60
5.54
5.04
SADD53
346.36
355.63
9.27
5.70
3.71
391.72
415.17
23.45
14.43
6.08
Due to funding constraints, no follow up drilling was undertaken at the Adumbi deposit after 2017.
Survey and Georeferencing All the Adumbi drill hole collars, trenches and accessible adits and adit portals were accurately surveyed and the data appropriately georeferenced. In addition, all accessible underground excavations and workings were accurately surveyed.
Re-logging of All Drill Holes All boreholes (153 holes totalling 33,651 metres) from Adumbi were systematically relogged and all data was put on (Strata Logs software) including core orientations. The re-logging of drill holes defined the presence of five distinct geological domains in the central part of the Adumbi deposit where the BIF (Banded Iron Formation) unit attains a thickness of up to 130 metres (see Figures 3 and 4). From northeast to southwest these are:
Upper BIF Sequence: an interbedded sequence of BIF and chlorite schist, 45 to 130 metres in thickness.
Carbonaceous Marker: a distinctive 3 to 17 metre thick unit of black carbonaceous schist with pale argillaceous bands.
Lower BIF Sequence: BIF interbedded with quartz carbonate, carbonaceous and/or chlorite schist in a zone 4 to 30 metres in thickness.
Footwall Schists: similar to the hanging wall schist sequence.
In the central part of the Adumbi deposit, three main zones of gold mineralization are present (see Figures 5 and 6). These include the following mineralization:
within the Lower BIF Sequence;
in the lower part of the Upper BIF Sequence. Zones 1 and 2 are separated by the Carbonaceous Marker, which is essentially unmineralized; and
a weaker zone in the upper part of the Upper BIF Sequence.
There is a higher-grade zone of gold mineralization termed the Replaced Rock Zone (“RP Zoneâ€) associated with alteration and structural deformation that has completely destroyed the primary host lithological fabric. The RP Zone occurs in the lower part of the Upper BIF package and in the Lower BIF package, and transgresses the Carbonaceous Marker, located between the Upper and Lower BIF packages, both along strike and down dip (see Figures 3 and 4).
Relative Density (“RDâ€) Measurements The increase in the sample population coupled with the application of a more rigid RD determination procedure based on recommendations from the RPA resource study, indicates that the new RD measurements from both mineralized and unmineralized material and from the various material types and lithologic units have improved the confidence in the relative RD determination to be applied to any resource estimates. Relative to the 6 oxide RD measurements used for tonnage estimation in the RPA model, 297 oxide RD measurements within the mineralized domain were undertaken during the review work. For the transition and fresh material, equal number of determinations relative to the previous RD sample volumes were undertaken with the review process employing more rigid RD determination procedures.
Table 1 below indicates significate positive variance between the previous model RD and the reviewed work for the oxide and transition materials.
Table 1: Summary of Previous and Updated Mineralised Average RD Measurements for Adumbi Deposit
Material Type
RD used in Previous RPA Model
RD Determinations Used in Current Model
RD Variance (%)
Oxide
1.80
2.45
36.1
Transition
2.20
2.82
28.2
Fresh
3.00
3.05
1.7
Oxidation and Fresh Rock Surfaces The re-logging of the core as per the RPA recommendations identified major differences between the depths of Base of Complete Oxidation (BOCO) and Top of Fresh Rock (TOFR), and the depths used by RPA in the 2014 model. In the RPA model, the BOCO was negligible and the TOFR corresponded approximately to the re-logged BOCO. The deeper levels of oxidation that were observed during the re-logging exercise have had positive implications with respect to ore type classification and associated metallurgical recoveries, mining and processing cost estimates.
Adit Sampling and Georeferencing Following the accurate surveying of the 10 historical adits and appropriately georeferencing, the 796 adit samples (1,121 metres in total) when applied have positive implications on the data spacing and classification of mineral resources at the Adumbi deposit.
Quality Control and Quality Assurance Assessment of assay standards and blanks of the Adumbi deposit by RPA indicated that 1,014 samples within some batches failed QC and were identified for re-assay. A total of 616 pulps and 382 quarter core samples were retrieved for re-assay. The samples were submitted to the SGS Laboratory (which is independent) in Mwanza, Tanzania in November 2014, together with international reference material from Rocklabs (8 per 100 samples) and blanks (4 per 100 samples). This was undertaken to ensure the samples passed internal QA/QC analytical procedures.
For the post 2014 drilling campaign, drill cores for assaying were taken at a maximum of one metre intervals and were cut with a diamond saw with one-half of the core placed in sealed bags by company geologists and sent to the SGS Laboratory in Mwanza. The core samples were then crushed at the laboratory down to minus 2 mm and split with one half of the sample pulverized down to 90% passing 75 microns. Gold analyses were carried out on 50g aliquots by fire assay. In addition, checks assays were also carried out by the screen fire assay method to verify high grade sample assays obtained by fire assay. Internationally recognized standards and blanks were inserted as part of the internal QA/QC analytical procedures.
Minecon has reviewed the quality of all the assay data used for the modelling and estimation of resources to ensure that they all passed the Company’s internal QA/QC criteria.
Gold Price A gold price of US$1,200 per ounce was used in 2014 for the RPA study. To reflect more recent market conditions, a gold price of US$1,500 per ounce has been used in Minecon’s resource determinations.
In summary, this additional 2014 to 2017 information resulted in better quantification with improved confidence in updating the geological model for grade interpolation and pit optimisation studies to determine mineral resources for the Adumbi deposit.
Geological Modelling and Grade Estimation The Adumbi 3-Dimensional model was constructed by Minecon in collaboration with on site geologists using cross sectional and horizontal flysch plans of the geology and mineralization (see Figures 3 and 4) and was used to assist in the constraining of the 3-D geological model. The mineralization model was constrained within a wireframe at 0.5 g/t Au cut-off grade (see Figures 5 and 6). Grade interpolation was undertaken using:
2 metre sample composites capped at 18 g/t Au to improve the reliability of the block grade estimates.
Ordinary Kriging to interpolate grades into the block model.
Relative densities of 2.45 for oxide, 2.82 for transitional and 3.05 for fresh rock were applied to the block model for tonnage estimation.
Pit Optimisation Parameters To constrain the depth extent of the geological model and any mineral resources, an open pit for the Adumbi deposit was constructed based on the following pit optimisation parameters:
A long-term gold price of US$1,500 per ounce.
Block size: 8 metres x 8 metres x 8 metres.
A two-metre minimum mining width and a maximum of four metres of internal waste was applied.
Mining dilution of 100% of the tonnes at 95% of the grade.
Ultimate slope angle of minus 45 degrees.
Metallurgical recoveries of 95% for oxide and transitional material and 90% for fresh rock (in the RPA study a fresh rock metallurgical recovery of 95% was used while Minecon reduced this to a more conservative 90% even though no additional metallurgical testwork was undertaken after the RPA study).
Average mining cost of US$2.5/t mined.
Mineral resources were estimated at a block cut-off grade of 0.9 g/t Au constrained by a Whittle pit with processing and G&A costs of US$30/t.
Transport of gold and refining costs equivalent to 4.5% of the gold price.
No additional studies on depletion by artisanal activity was undertaken since the 2014 RPA study and the same total amount of material was used by Minecon.
The results of the Adumbi pit optimisation (see Figure 7) indicated an inferred mineral resource within the pit of 2.19 million ounces of gold (28.97 million tonnes at 2.35 g/t gold) (see Table II below).
Mineral Resources Within the US$1,500 pit shell (Figure 7), the following is classified as inferred mineral resource at the Adumbi deposit:
Table II: Inferred Mineral Resource for the Adumbi Deposit (with an effective date of April 17, 2020)
Material Type
Tonnage (Tonnes)
Grade (g/t Au)
Contained Gold Ounces
Oxide
3,820,000
2.44
300,000
Transitional
3,320,000
2.69
290,000
Fresh
21,820,000
2.28
1,600,000
TOTAL
28,970,000
2.35
2,190,000
Note: Numbers may not add up due to rounding.
The additional drilling information, the higher RD determinations and the increased gold price, have contributed significantly to the increased mineral resources of the Adumbi deposit with improved confidence.
In summary for the Imbo Project, the inferred mineral resource for the Adumbi, Manzako and Kitenge deposits now totals 2,503,000 ounces of gold (30,650,000 tonnes grading 2.54 g/t Au) and is summarised in Table III below. 76.29% of this inferred mineral resource is attributable to Loncor via its 76.29% interest in the Imbo Project.
Table III: Inferred Mineral Resource for the Imbo Project (with an effective date of April 17, 2020)
Deposit
Tonnage (Tonnes)
Grade (g/t Au)
Contained Gold Ounces
Adumbi
28,970,000
2.35
2,190,000
Kitenge
910,000
6.60
191,000
Manzako
770,000
5.00
122,000
TOTAL
30,650,000
2.54
2,503,000
Note: Numbers may not add up due to rounding.
Additional Resource Potential and Recommendations for Further Work There is significant additional resource potential within the Imbo project permit:
At the Adumbi deposit, the gold mineralization is still open at depth and, subject to securing the necessary financing, the drilling of an additional 12 core holes (7,000 metres) has the potential to add and upgrade mineral resources within the US$1,500 pit as well as outline potential underground resources below the pit (see Figure 8). After this proposed drilling program has been completed, additional drilling may be undertaken (subject to securing the necessary financing) before a Preliminary Economic Assessment is initiated to include additional mineral resource determinations, metallurgical testwork, open pit and potential underground studies, metallurgical plant processing, infrastructural, environmental and economic studies.
At the Kitenge and Manzako deposits, additional drilling may also be undertaken (subject to securing the necessary financing) to further define and increase the inferred mineral resources at these deposits.
Ongoing exploration including gridding, soil sampling, trenching and channel sampling is planned to be undertaken at the Imbo East prospect in order to generate potential drill targets.
An independent National Instrument 43-101 technical report relating to the mineral resource estimates on the Imbo Project reported in this press release will be filed on SEDAR and EDGAR within the period required by National Instrument 43-101.
Qualified Person Mr. Daniel Bansah, Chairman and Managing Director of Minecon, is the “qualified person” (as such term is defined in National Instrument 43-101) who is responsible for the mineral resource estimates and other technical information disclosed in this press release. Mr. Bansah has reviewed and approved the contents of this press release.
About Loncor Resources Inc. Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Belt in the Democratic Republic of the Congo (the “DRCâ€). The Loncor team has over two decades of experience of operating in the DRC. Ngayu has numerous positive indicators based on the geology, artisanal activity, encouraging drill results and an existing gold resource base. The area is 200 kilometres southwest of the Kibali gold mine, which is operated by Barrick Gold (Congo) SARL (“Barrickâ€). In 2019, Kibali produced record gold production of 814,000 ounces at “all-in sustaining costs†of US$693/oz. Barrick has highlighted the Ngayu Greenstone Belt as an area of particular exploration interest and is moving towards earning 65% of any discovery in 1,894 km2 of Loncor ground that they are exploring. As per the joint venture agreement signed in January 2016, Barrick manages and funds exploration on the said ground at the Ngayu project until the completion of a pre-feasibility study on any gold discovery meeting the investment criteria of Barrick. In a recent announcement Barrick highlighted six prospective drill targets and are moving towards confirmation drilling in 2020. Subject to the DRC’s free carried interest requirements, Barrick would earn 65% of any discovery with Loncor holding the balance of 35%. Loncor will be required, from that point forward, to fund its pro-rata share in respect of the discovery in order to maintain its 35% interest or be diluted.
In addition to the Barrick JV, certain parcels of land within the Ngayu project surrounding and including the Makapela and Adumbi deposits have been retained by Loncor and do not form part of the joint venture with Barrick. Barrick has certain pre-emptive rights over the Makapela deposit. Loncor’s Makapela deposit (which is 100%-owned by Loncor) has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au). Adumbi and two neighbouring deposits hold an inferred mineral resource of 2.5 million ounces of gold (30.65 million tonnes grading 2.54 g/t Au), with 76.29% of this resource being attributable to Loncor via its 76.29% interest in the project.
Resolute Mining Limited (ASX/LSE: “RSG”) owns 26% of the outstanding shares of Loncor and holds a pre-emptive right to maintain its pro rata equity ownership interest in Loncor following the completion by Loncor of any proposed equity offering.
Additional information with respect to Loncor and its projects can be found on Loncor’s website at www.loncor.com.
Posted by AGORACOM-JC
at 7:22 AM on Friday, April 17th, 2020
Empower Clinics closes private placement of $653,000.00 to support the Company growth plan and goes live with physician based immune boosting tele-medicine consultations with online professional supplement dispensing
Recently announced digital health initiative, has added physician based tele-medicine consultations to address immune system boosting requirements for existing patients and new patients, on a nationwide basis
The Company clinics have also seen a 480% increase in patient visits in the first half of April 2020
VANCOUVER, BC / April 17, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(Frankfurt:8EC)(OTCQB:EPWCF) (“Empower” or the “Company”), a vertically integrated life sciences company, is pleased to announce the closing of its non-brokered private placement of an aggregate of 16,325,000 units of the Company (each, a “Unit”) at a price of $0.04 per Unit for gross proceeds of $653,000.00 (the “Offering”).
The proceeds of the Offering are expected to be used by the Company for general working capital and corporate purposes.
The Company, as part of the recently announced digital health initiative, has added physician based tele-medicine consultations to address immune system boosting requirements for existing patients and new patients, on a nationwide basis. The Company clinics have also seen a 480% increase in patient visits in the first half of April 2020.
“Securing additional capital provides our Company more flexibility to support our staff and patients, during such a difficult time in history”, said Steven McAuley, Chairman & CEO. “We are hiring physicians and administrative staff right now to meet patient demand and adding technology resources to ensure our new services are available nationwide.”
In addition, our network of physicians will now be able to dispense over 250 premium supplement products to support patients’ needs, through a new online Sun Valley Health supplement store.
“Our new telemedicine platform is extremely robust, giving us the opportunity to provide a variety of modalities to our patients.” said Dustin Klein, Director and SVP Business Development. “We are focused on helping patients boost their immune systems and reduce stress and anxiety that may arise with isolation and social distancing.”
Each Unit is comprised of one Share and one Warrant, with each Warrant exercisable into one Warrant Share at an exercise price of $0.10 per Warrant Share for a period of two years following the Closing.
The Units, and the underlying Shares, Warrants and Warrant Shares (collectively, the “Securities”), are subject to restrictions on resale under applicable Canadian securities laws for a period of four months and one day from the closing of the Offerings. None of the Securities have been or will be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would require registration or otherwise be unlawful.
ABOUT EMPOWER
Empower is a vertically integrated health & wellness company operating a network of physician-staffed wellness clinics, focused on helping patients improve and protect their health, through innovative physician recommended treatment options. The Company has its first hemp-derived CBD extraction facility under development, to produce proprietary lines of cannabidiol (CBD) based products to distribute through company owned and franchised clinics, wholesale partnerships, online channels and developing retail channels nationwide in the U.S.
For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-MARI
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include statements regarding; the Company’s intention to open a hemp-based CBD extraction facility, the expected benefits to the Company and its shareholders as a result of the proposed acquisitions and partnerships; the effectiveness of the extraction technology; the expected benefits for Empower’s patient base and customers; the benefits of CBD based products; the effect of the approval of the Farm Bill; the growth of the Company’s patient list and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2019 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including; that the Company may not open a hemp-based CBD extraction facility; that legislative changes may have an adverse effect on the Company’s business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed acquisitions and partnerships; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
Tags: CBD, CSE, edibles, Hemp, Marijuana Posted in All Recent Posts, Empower Clinics Inc. | Comments Off on Empower Clinics $CBDT.ca Announces Closing of Private Placement the Launch of Immune System Tele-Medicine Services and Patient Visits Up 480% $WEED.ca $CGC $ACB $APH $CRON.ca $OGI.ca
Posted by AGORACOM-JC
at 7:17 AM on Friday, April 17th, 2020
Announced a multi-year partnership with Eli Wilson Goaltending, a world leader in goaltending development, goaltending camps, and clinics
Eli Wilson has established himself as one of the premier goaltending coaches in the world through his work with dozens of goaltenders in the National Hockey League (NHL) and Team Canada
Toronto, New York -Â April 17th, 2020 – Eyecarrot Innovations Corp., (Eyecarrot) (TSXV:EYC) | (OTC:EYCCF) | (2EYA:GR) is excited to announce a multi-year partnership with Eli Wilson Goaltending, a world leader in goaltending development, goaltending camps, and clinics. Eli Wilson has established himself as one of the premier goaltending coaches in the world through his work with dozens of goaltenders in the National Hockey League (NHL) and Team Canada. The partnership will provide Eli Wilson Goaltending camps with the Binovi Touch neurovision sports training hardware, alongside screen-based resources for athletes to support their development on and off the ice. The Eli Wilson Goaltending partnership will ultimately expose 600 active goaltending camp participants, aged 10 to 19 years and a global network of over 50,000 aspiring goaltending athletes to Eyecarrot’s Binovi Sport Vision Platform for off-ice training. As many nations continue to practice social distancing during COVID-19 and post pandemic, the Binovi Sports Vision Platform offers accessible turnkey athletic resources in step with subscription-based home fitness solutions Tonal, Peloton (PTON: NASDAQ) and Mirror. A subscription structure will support the company’s global product scaling strategy and “at-home” consumer offerings.
“I emphatically believe the best way to develop goaltenders is by teaching a system within a system. Quality drills, attention to detail, repetition and simplicity are major factors in building successful goaltenders. The goaltender must learn needed skills in a progressive manner in a controlled environment. With Binovi, we are gaining a sports vision training system to improve vision in that same controlled way, ensuring proper analysis and progress,” commented Eli Wilson, Eli Wilson Goaltending Founder, CEO
Under his tutelage, Eli’s camps –which see over 600 athletes annually– have produced more than 50 NHL draft picks, over 60 Division I, Canadian University goaltenders, and more than 200 players drafted by Major Junior teams. His goaltenders have gone on to win numerous prestigious awards and championships, including the Stanley Cup, Conn Smythe Trophy, Vezina Trophy, World Junior Gold Medals, American Hockey League (AHL) championships, AHL Playoff MVPs, Western Hockey League (WHL) Goaltender of the Year awards, Ontario Hockey League (OHL) Goaltender of the Year awards, and Canadian Hockey League (CHL) Goaltender of the Year awards. In addition to standard camp programming, Eli has introduced a number of specialty camps, including the popular 24/7 camp, where goaltenders actually live and train with Eli over a three-day weekend. A main staple of Eli’s year-round training is advanced video technology, whereby he and his staff can analyze video remotely to further goaltending development.
This strategic partnership will support Eyecarrot’s aggressive positioning of its sports vision performance offerings in the sport of hockey through an increased presence in key hockey development programs including direct NHL team alignments. Hockey, a leading sport in Canada, will benefit from big-tech partnerships of this nature that are designed to enhance athlete performance at all development levels of the sport.
“We’re very excited to be working with an athletic training team that clearly has a very high drive for success, and such an incredible track record for turning out exceptional players. Our goal is to see Binovi boost the performance of athletes going through these camps and training regimens. After all, competition is what drives sport, and any edge players and their training teams can get to get that competitive edge over an opponent is key. We look forward to working alongside Eli and his team as we continue to develop Binovi for sports,” stated Adam Cegielski, President and CEO.
Click here for more information on Binovi Sports Vision Training.
About Eli Wilson Goaltending
Eli Wilson has worked with over 30 NHL goalies (and counting) to sharpen all essential goaltending skills, including mental conditioning and off-ice training. Eli’s programs help to hone an athlete’s reflexes and improve agility in the net. The camp experience mirrors how Pro and NHL goaltenders’ practice, train, think, and act, to get to the top of their game. In 2004, Eli was named to Hockey Canada’s goaltending consultant group. He has consulted with Creative Artists Agency (CAA) Sports during their summer development camps for top young prospects in Los Angeles, California. Eli has also traveled to South Korea to work with the Kangwon Land Ice Hockey team and other young goaltenders in the country. From 2007 through 2010, Eli was the goaltending coach for the Ottawa Senators, where he was responsible for the Ottawa Senators goaltenders as well as for the goalies playing for their AHL affiliate, the Binghamton Senators. Established in 2010, the Eli Wilson Goaltending program sees over 600 athletes every year and helps give them the competitive edge to set themselves apart in a very challenging and exclusive club.
About the NHL
The National Hockey League (NHL(R)), founded in 1917, consists of 31 Member Clubs, each reflecting the League’s international makeup with players from more than 20 countries represented on team rosters, vying for the most cherished and historic trophy in professional sports – the Stanley Cup(R). Every year, the NHL entertains more than 670 million fans in-arena and through its partners on national television and radio; more than 151 million followers – league, team and player accounts combined – across Facebook, Twitter, Instagram, Snapchat and YouTube; and more than 100 million fans online at NHL.com. The League broadcasts games in more than 160 countries and territories through its rightsholders including NBC/NBCSN and the NHL Network(TM) in the U.S., Sportsnet and TVA in Canada, Viasat in the Nordic Region and CCTV and Tencent in China. The NHL reaches fans worldwide with games available online in every country including via its live and on-demand streaming service NHL.TV(TM). Fans are engaged across the League’s digital assets on mobile devices via the free NHL(R) App; across nine social media platforms; on SiriusXM NHL Network Radio(TM); and on NHL.com, available in eight languages and featuring unprecedented access to player and team statistics as well as every regular-season and playoff game box score dating back to the League’s inception, powered by SAP. The NHL is committed to building healthy and vibrant communities through the sport of hockey by increasing youth participation and engagement; fostering positive family experiences; promoting inclusion, positive culture and leadership; and supporting sustainable community impact.
About Eyecarrot Innovations Corp
Eyecarrot is a human performance technology company that has developed Binovi, a hardware and software-centered platform. Binovi combines hardware, software, specialized expert knowledge, and unique big data insights in order to deliver customized one-on-one training and treatment. Binovi is designed for vision optimization and the enhancement of cognitive skills related to human performance. We are working together under a common banner to help neuro-optometry, vision rehabilitation, and vision performance professionals gain measurable results in less time, and with less effort.
Adam Cegielski
President | CEO
Tania Archer
Head of Global Marketing | Sales | Strategic Partnerships
Certain statements contained in this news release constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company’s continuous disclosure filings filed under the Company’s profile at www.sedar.com . The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. 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.
Posted by AGORACOM-JC
at 6:02 PM on Thursday, April 16th, 2020
SPONSOR: NORTHBUD (NBUD:CSE) Sustainable low cost, high quality cannabinoid production and procurement focusing on both bio-pharmaceutical development and Cannabinoid Infused Products. The company recently received Canadian Cultivation Licence for its Quebec Facility. Learn More.
Ontario online pot orders hit high, keep steady amid coronavirus-related stockpiling
Data provided by the Ontario Cannabis Store showed daily online orders hovered in the mid-2,000 range for the first half of last month, tripling when Canada moved to restrict U.S. border access and spiking to a high of nearly 14,000 when Ontario announced pot shops would be a non-essential business, requiring their temporary closure.
Ontario online pot orders hit high, keep steady amid coronavirus-related stockpilingÂ
Cannabis stockpiling in Ontario led to some heavy sales last month, and early signs show that the demand may be sticking around. Data provided by the Ontario Cannabis Store showed daily online orders hovered in the mid-2,000 range for the first half of last month, tripling when Canada moved to restrict U.S. border access and spiking to a high of nearly 14,000 when Ontario announced pot shops would be a non-essential business, requiring their temporary closure. Two weeks later, daily sales have held steady around the 9,000 level, almost five times the amount made prior to the start of the pandemic. While it may be too early to really gauge how COVID-19 will impact legal cannabis sales over the long term, the OCS numbers provide a highly precise glimpse at how people are consuming cannabis during the pandemic.
Posted by AGORACOM
at 2:17 PM on Thursday, April 16th, 2020
SPONSOR: Labrador Gold – Two successful gold explorers lead the way in the Labrador gold rush targeting the under-explored gold potential of the province. Exploration has already outlined district scale gold on two projects, including a 40km strike length of the Florence Lake greenstone belt, one of two greenstone belts covered by the Hopedale Project. Recently acquired 14km of the potential extension of the new discovery by New Found Gold’s Queensway project to the south.Click Here for More Info
Gold extended its rally to hit the highest in more than seven years on concern that the coronavirus pandemic will have a deep effect on the global economy, hammering corporate earnings while supercharging demand for havens.
Futures in New York moved closer to US$1,800 an ounce, a level last seen in 2011. Spreads between futures and spot prices remain wide, suggesting thinner liquidity, which is further exacerbating price dislocation.
“Liquidity conditions are challenging and market participants are understandably cautious,†Joni Teves, a strategist at UBS Group AG, said Tuesday in a note. “Gold’s journey has been quite bumpy so far, but given the macro backdrop we think the destination remains higher.â€
Bullion has soared this year as the global heath crisis tipped economies toward recession and spurred central banks to launch huge stimulus measures. Since last month’s wave of forced selling, as equities sank, gold has staged a recovery.
Comex gold futures for June delivery climbed as much as 1.6 per cent to US$1,788.80 an ounce, the highest for a most-active contract since October 2012. The metal rose 0.4 per cent to settle at US$1768.90 at 1:30 p.m. in New York. Spot gold was more than US$30 cheaper at US$1,737.20, with the spread a feature of trading in recent weeks amid physical market disruptions.
Futures pared earlier gains as “there’s a little bit of a move on volatility, and equities turned around a bit, and what we might be seeing is that people are locking in what they’ve gained on gold here,†Bart Melek, head of commodity strategy at TD Securities, said by phone.
Overall, gold still has room to run, according to Hans Goetti, founder and chief executive officer of HG Research.
“What’s happening here is that the Fed is expanding its balance sheet and every other central bank in the world is doing the same,†he told Bloomberg TV. “What you’re looking at is massive currency debasement in the long term. That’s the major reason why gold is higher, and I would think that over the next few weeks or months, we’re probably going to retest the high that we saw in 2011.â€
The Federal Reserve’s massive U.S. monetary program and the fiscal stimulus “could see long-end rates rise during the recovery phase, but not without rising inflation expectations, which should keep real rates suppressed,†TD Securities analysts said in an emailed note. “In this context, we suspect that investment demand for gold will continue to rise as capital seeks shelter from a long-term environment in which real rates are negative.â€
Negative real rates boosts the appeal of non-interest-bearing bullion.
Gold’s latest upswing has come even as risk sentiment received a boost after China’s trade data beat estimates, while the pace of coronavirus infections has slowed in some countries, with the focus shifting toward how lockdowns can be eased. President Donald Trump said he has “total†authority to order states to relax social distancing and reopen their economies.
Worldwide holdings in bullion-backed exchange-traded funds have ballooned to a record on rising demand, with investors seeking additional portfolio protection. On Monday, volumes in SPDR Gold Shares, the largest such fund, surged above 1,000 tons to the highest since mid-2013.
In other precious metals, silver futures also advanced on the Comex, while platinum and palladium gained on the New York Mercantile Exchange.
Posted by AGORACOM-JC
at 1:52 PM on Thursday, April 16th, 2020
Announced that further to its press release dated March 24th, 2020, the second payment of approx. $1.4M has already been received under the exclusive contract with Drosrite International LLC
“Due to an unprecedented number of inquiries received from investors, we decided to confirm receipt of the second payment of $1.4M noted in this press release,†said Mr. P. Peter Pascali, President and CEO of PyroGenesis
MONTREAL, April 16, 2020 — PyroGenesis Canada Inc. (http://www.pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the “Company”, the “Corporation†or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, in response to an extraordinary volume of inquiries with respect to the subject matter, is pleased to announce that, further to its press release dated March 24th, 2020, the second payment of approx. $1.4M has already been received under the exclusive contract with Drosrite International LLC (“DIâ€).
“Due to an unprecedented number of inquiries received from investors, we decided to confirm receipt of the second payment of $1.4M noted in this press release,†said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “We would also like to confirm that additional payments are being processed as anticipated and that, as per DI’s press release dated January 27th, 2020, work has already begun. I would also like to take this opportunity to further emphasize to readers that in general, notwithstanding receipt of payments, revenues and expenses are based on percent completion and not receipt of payments.â€
As previously disclosed, and as part of this exclusive arrangement between DI and PyroGenesis, DI will pay PyroGenesis approximately $25M, based on current exchange rates, over the first 12 months as well as approx. $3M per year (fixed) for the next two (2) years, together with a variable amount for the subsequent 18 years based on certain international benchmarks.
About Drosrite International LLC
DI is a US based private company duly constituted and existing under the laws of the State of Delaware, providing state-of-the-art waste management technologies to the aluminum industry. DI is duly licensed by PyroGenesis to manufacture, market, sell and distribute DROSRITE™ systems and technology to the Kingdom of Saudi Arabia, and certain other countries in the Middle East, on an exclusive basis. All DROSRITE™ systems supplied by DI are manufactured in the USA.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 and AS9100D certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward- looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Corporation’s current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Corporation with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Corporation’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward- looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTCQB accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact:
Rodayna Kafal, Vice President Investors Relations and Strategic Business Development, Phone: (514) 937-0002, E-mail: [email protected]
