HPQ Silicon is also the largest holder of High Purity Quartz properties in Quebec, with over 3,500 Ha under claims. Despite the abundance of quartz, very few deposits are suitable for high purity applications. High Purity Quartz supplies are tightening, prices are rising, and exponential growth is forecast. Quartz from the Roncevaux property successfully passed rigorous testing protocols of a major silicon metal producer confirming that our material is highly suited for their silicon metal production.
TORONTO, ONTARIO–(Aug. 5, 2016) – KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6) (“KWG”) has filed a Notice of Sale from Control with respect to all of its 144,630,000 common shares of affiliate Debut Diamonds Inc. (CSE: DDI) (“Debut”). The notice provides that the shares will be sold either in whole or in part and either privately or through the facilities of the Canadian Securities Exchange stock market.
About Debut:
Debut has both joint-ventured and wholly-owned diamond exploration properties that include the previously discovered MacFadyen and Good Friday kimberlite pipes within claims contiguous to the DeBeers claim block containing the Victor Diamond Mine. Debut also has an interest in the diamond bearing Kyle kimberlites about 100 kilometers to the west. See more at: http://www.debutdiamonds.com/docs/2015/01/debut-diamonds-inc-completes-private-placement-3/#sthash.CuirzLLh.dpuf
About KWG:
KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The filings have been receipted in each of those jurisdictions.
Shares issued and outstanding: 961,320,281
Bruce Hodgman
Vice-President
416-642-3575
[email protected]
Toronto, Ontario – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloroâ€) and Tartisan Resources Corp. (CSE:TTC) (“Tartisanâ€) are pleased to announce the execution and delivery of a binding Purchase and Sale Agreement (the “Agreementâ€) with respect to the proposed purchase by Eloro (the “Transactionâ€) of Tartisan’s 100% interest in La Victoria property (“La Victoria†or the “Propertyâ€) as previously announced on May 30, 2016. The Property, currently consisting of 8 mineral concessions totalling approximately 35.9 km2 together with 3 mineral claims totalling 15 km2, is held by a Peruvian-based Tartisan subsidiary and is located in Huandoval District, Pallasca Province, Ancash Department, in the North-Central Mineral Belt of Peru.
Pursuant to the terms of the Agreement and as consideration for the Property, Eloro has agreed to: i) issue 6 million common shares (the “Sharesâ€) and 3,000,000 warrants (the “Warrantsâ€) with limited transferability, ii) make staged cash payments totalling C$350,000, and iii) grant Tartisan a 2% royalty interest (the “Royaltyâ€), half of which can be repurchased by Eloro for C$3 million to reduce the Royalty to 1%.
Transaction Highlights
The Transaction would create a new “Control Person†in Eloro, pursuant to applicable securities legislation, as it is proposed that Eloro issue Tartisan 6 million Shares and 3 million Warrants (representing 22.4% of the Shares of Eloro on a non-diluted basis, and 30.2% of the Shares of Eloro on a partially-diluted basis, assuming the exercise of only the Warrants held by Tartisan). In accordance with the policies of the TSX Venture Exchange (“TSXVâ€), disinterested shareholder approval is required for the creation of a new Control Person.
The Transaction remains subject to several conditions, including: (i) the receipt of all necessary approvals, including the approval of the TSXV for Eloro; (ii) the completion of a National Instrument (“NIâ€) 43-101 Technical Report on La Victoria by Eloro; and (iii) shareholder approval from the shareholders of Eloro. Eloro will be making a submission to the TSXV in order to obtain conditional approval for the Transaction and will proceed with obtaining the required shareholder approval for the issuance of the securities pursuant to the Transaction. A NI 43-101 report on La Victoria is currently being drafted. Any securities to be issued by Eloro pursuant to the proposed Transaction would be subject to a 4-month hold period.
La Victoria Property, Peru
The La Victoria Property is free of royalties and consists of properties totalling eight mining concessions encompassing approximately 35.9 square kilometres together with 3 mineral claims totalling 15 square kilometres. The La Victoria Property is within 50 kilometres of several producing mines, with three producers visible from the Property. The Property has good infrastructure with road-access and nearby sources of water and electricity. It is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.
About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in northern Peru and western Quebec. Eloro recently announced its proposed acquisition of a 100% undivided interest in the La Victoria property, located in the prolific North-Central Mineral Belt of Peru. The La Victoria Property consists of properties totalling eight mining concessions encompassing approximately 35.9 square kilometres together with 3 mineral claims totalling 15 square kilometers. The Property is within 50 kilometres of several producing gold mines, with three producers visible from the property. Infrastructure in the area is good with access to road, water and electricity and is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.
About Tartisan Resources Corp.
Tartisan is a mineral exploration and development company based in Toronto, Canada with an emphasis on properties in Peru. The company owns the La Victoria property located in the northern Ancash Department, Peru. La Victoria property is located within 50 km of several producing mines including: La Arena owned by Tahoe Resources, Lagunas Norte (Alto Chicama) owned by Barrick Gold Corporation (TSX:ABX) and Santa Rosa owned by Compañia Minera AurÃfera Santa Rosa (COMARSA).
For further information please contact: Thomas G. Larsen, President and CEO of Eloro or Jorge Estepa, Vice-President of Eloro at (416) 868-9168 or Mark Appleby, CEO of Tartisan Resources at (416) 804-0280.
Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Neither the TSXV, CSE nor its Regulation Services Provider (as that term is defined in the policies of the TSXV or CSE) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/TartisanAug52016.pdf
Source: Tartisan Resources Corp. (CSE:TTC)
ROUYN-NORANDA, QUEBEC–(Aug. 4, 2016) – Explor Resources Inc. (“Explor” or “the Corporation”) (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the results of the Diamond Drilling Program on the Corporation’s Ogden Gold Property. The property is located 12 kilometers southwest of the city of Timmins, Ontario. The property consists of 12 mining claims (96 mineral claim units) covering 1,540 hectares situated in the Porcupine mining division, district of Cochrane, in the Ogden and Price Townships, Ontario. These claims are contiguous to the east of the Corporation’s Timmins Porcupine West Property (the “TPW Property”). This preliminary program consisted of three sets of two holes each. East set was located with an approximate 2 kilometer spacing as shown on the attached plan.
The property has been previously explored by Hollinger Mines, Tex-Sol Exploration, Inmet Mining Corporation, Amax Mineral Exploration, Noranda Exploration and Knick Exploration. The majority of the holes drilled by previous operators were less than 100 meters in length. Historically on the Ogden Property, the only hole that hit significant mineralization was a diamond drill hole by Tex-Sol Exploration in 1965 which returned 6.0 g/t Au over 9.1 m at a shallow depth. Typically on the adjacent TPW Gold Property, higher grade mineralization was intersected below 300 meters of vertical depth requiring drill holes of 500 to 600 meters in length.
The most significant deposits in Timmins are spatially associated with porphyry units that are in proximity to the Porcupine Destor Fault. Also the deposits appear to be also associated with splay faults that trend off and to the North of the Porcupine Destor fault inside an interpreted splay fault corridor. Bearing that in mind, the preliminary exploration program consisted of six NQ holes for a total of 3,648 meters of diamond drilling. The holes averaged 600 meters in length. The preliminary goal of this Diamond Drill program was to test the IP Targets and to identify if the property contained favourable geology to host gold mineralization. The diamond drill program used geophysical targets identified by Explor’s ground geophysical survey as well as IP work conducted by Inmet and Knick Exploration. The program was successful in that all IP targets were intersected. The geological environment identified is very similar to the Corporation’s Timmins Porcupine West Property. As it was the case at TPW property, the rock type intersected included Quartz Feldspar Porphyry (QFP), Mafic Volcanics, and Sulfide zones containing fine grain pyrite mineralization.
The following results were obtained from this first drilling campaign:
Hole #OG-16-02 intersected 2.06 g/t Au over 1.50 meters from 154.5 to 156.0 meters.
Hole #OG-16-05 intersected 1.99 g/t Au over 1.80 meters from 438.0 to 439.8 meters.
Explor plans on analyzing the current results in context with the geological information obtained with this preliminary program and plans an exploration program for the fall/winter drilling season.
Assays are conducted on NQ sized half core sections. The diamond drill core is logged and sampled following general industry practices whereby logged and sample marked core is sawn in half, with one-half bagged and tagged for shipment to the assay laboratory and the remaining half of the sawn core returned to the core box for storage and future reference. Blanks and assay standards are inserted at regular intervals in each sample batch. Assays are conducted using a standard fire assay technique on a 30 gram sample with a gravimetric finish by Laboratoire Expert Inc., of Rouyn-Noranda, Quebec. Routine duplicates are completed by Laboratoire Expert inc. Pulps and rejects are returned and stored in secure containers. Intersections are reported using drilled widths unless specified otherwise, with assay values as simple averages of duplicates and gravimetric results.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: “We are extremely pleased and encouraged by these preliminary drill results and the confirmation of the potential of the gold bearing environment. This drilling campaign indicates to us that this large property block could potentially host a major gold deposit, and merits further exploration.”
Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).
This Press Release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Québec with approximately 33% in Ontario and 67% in Québec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.
Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Limited is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:
| Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows: | |
| Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au) | |
| Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au) | |
| Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows: | |
| Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au) | |
| Inferred: 393,000 oz (5,185,000 tonnes at 2.36 g/t Au) |
This document may contain forward-looking statements relating to Explor’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
A map is available at the following address: http://media3.marketwire.com/docs/1064935.pdf
Explor Resources Inc.
Christian Dupont
President
819-797-6050
888-997-4630 or 819-797-4630
www.explorresources.com
[email protected]
Why Explor Resources?
ONTARIO AND NEW BRUNSWICK PROPERTIES CURRENTLY UNDER EXPLORATION
Timmins Porcupine West (TPW) (4300 ha)
Chester Copper & VMS Project (3500ha)
Kidd Creek Project (2466 ha)
QUEBEC PROPERTIES CURRENTLY UNDER EXPLORATION
East Bay (3203 ha):
Nelligan (1198 ha):
Launay (2250 ha):
12 Month Stock Chart
Montreal, Quebec / August 4, 2016 –St-Georges Platinum and Base Metals Ltd. (CSE: SX) (FSE: 85G1) (OTC: SXOOF) is pleased to announce that it has entered into a binding term sheet – “JV Agreement”- with Platypus Resources (ASX: PLP) detailing the key commercial terms of their joint venture in relation to Le Royal Lithium, a lepidolite-rich project for which St-Georges and Platypus hold an option to acquire 100%.
In forming the joint venture, St-Georges and Platypus will be focussed on the exploration and development of Le Royal Lithium prospect leveraging off Platypus’ L-Max(R) technology to process lepidolite ores and St-Georges’ in-country experience.
The key terms of the Agreement are detailed below:
| Initial Ownership Interest | Platypus 70%St-Georges 30% |
| Initial Exploration Expenditure | St-Georges will fund the first C$450,000 of exploration expenditure. |
| L-Max(R) Licence | Platypus will grant the joint venture a licence to use the L-Max(R) technology on the project. |
| St-Georges Option | After completing the Initial Exploration Expenditure, St-Georges will have an option to fund the next C$600,000 of exploration expenditure to increase its ownership interest in the joint venture to 50%.If St-Georges exercises this option, it will pay for 50% of the milestone payments relating to the delineated of a JORC/NI-43101 Resource as contemplated in the Acquisition Agreement. |
| Conditions | St-Georges and Platypus exercising their option to acquire Le Royal Lithium prospect and associated claims.Execution of a formal joint venture agreement between St-Georges and Platypus.
Any required regulatory approvals. |
Platypus Managing Director Tom Dukovcic commented: “We are pleased to have agreed to key terms with St-Georges. This deal demonstrates our continued ability to leverage off the L-Max(R) technology to gain near term value by obtaining a free carry through a significant portion of exploration expenditure.”
OTHER CORPORATE MATTERS
Valorization of St-Georges mining exploration portfolio.
St-Georges is currently reviewing all of its mining exploration claims and projects portfolio. Herb Duerr, P. Geo and St-Georges director, has received the mandate to look at all options available to move the projects of value forward. Management will be looking at reactivating secondary projects like the Isoukustouc Project, in light of the increased interest in cobalt and platinum.
Muscovite Projects update
On April 28, 2016 St-Georges entered into a multi-party agreement with SX insiders and Active Growth Capital (ACK) in regards to 8 historical muscovite mines. Active Growth management notified St-Georges of its plans not to pursue the exploration and development of the muscovite assets that were part of the joint agreement. No shares of ACK have been issued in favour of St-Georges. The Option agreement is to be considered expired and ACK does not have any further obligation in regards to St-Georges. St-Georges is planning to execute a revised agreement with the owners of the claims in the coming weeks.
Furthermore, St-Georges and ACK also jointly acquired 81 additional mining exploration claims surrounding the historical sites representing approximately 4,633 hectares. These claims are currently held and registered under both companies with 50% ownership each.
ACK contracted a geological team to visit some of the new jointly-acquired claims. Some samples of interest were sent to laboratories for analysis. These samples are currently undergoing a second testing phase. St-Georges will update its shareholders as soon as these results become available to the company.
ON BEHALF OF THE BOARD OF DIRECTORS
“Mark Billings”
MARK BILLINGS, Chairman of the Board
About St-Georges
St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues.
The Company also explores for nickel on the Julie Nickel Project on Quebec’s North Shore.
Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
August 4, 2016 / Montreal, Quebec, Canada – HPQ Silicon Resources Inc (“HPQ Silicon”) (TSX Venture: HPQ) (formerly Uragold) is pleased to announce the appointment of Mr. Daryl Hodges to the Board of Directors.
Mr. Hodges brings over 35 years of extensive capital markets experience and success on a global scale in the mining industry. He was a founding partner of Jennings Capital Inc. in 1999 and was integral in its growth to the 7th largest independent investment dealer in Canada. From 2003 – 2010, he was the Senior Managing Director and Head of Investment Banking. From 2010 – 2013, he served as Chief Executive Officer, President and Chairman of Jennings Capital, as well as Director of Jennings Capital (U.S.A.) Inc. Mr. Hodges is a geologist and currently serves as President of mining finance advisory firm, Ladykirk Capital Advisors.
About HPQ Silicon
HPQ Silicon Resources Inc (Formally Uragold Bay Resources) is a TSX-V listed junior exploration company planning to become a vertically integrated and diversified High Value Specialty Materials Company. Our Business model is focused on developing unique projects that can generate high yield returns and significant free cash flow within a short time line.
High Value Specialty Materials
In September 2015, PyroGenesis announced that it had filed for a provisional patent for the PUREVAPTM Quartz Vaporization Reactor (QVR) process, which it noted was able to produce silicon, at a lower cost, while generating less CO2 emissions than current processes.
On April 19, 2016, PyroGenesis announced that early test results of the PUREVAPTM QVR process have demonstrated that it can transform high purity quartz into silicon metal. The PUREVAPTM QVR validation program his now in its second stage whereby the operational parameters of the reactor are adjusted in order to achieve the transformation of HPQ Silicon Quartz into Solar Grade Purity Si.
On June 29, 2016, HPQ Silicon announced that first pass analytical process confirms the ability of the PUREVAPTM process to create high purity silicon metal exceeding 99.9% and that samples are to be sent to a specialized laboratory in the United States to determine the precise purity levels of the Silicon Metal.
HPQ Silicon, with its PUREVAP(TM) QVR process, is endeavouring to become a vertically integrated Silicon Metal (98.5% Si), High Purity Silicon Metal (99.99% Si), Solar Grade Silicon Metal (6N Purity / 99.9999% Si) and/or Higher (9N Purity / 99.9999999% Si) producer.
The PUREVAP(TM) QVR process’s big advantage is its one step direct transformation of Quartz into High Purity Silicon Metal Solar Grade Silicon Metal and/or Higher Purity product, thereby potentially allowing Uragold to manufacture high value material for the same operating cost presently being paid by traditional producers to make Metallurgical Grade Si (98.5% Si) using the traditional arc furnace approach.
The Science Behind the PUREVAP(TM) QVR Process Is Solid:
What is unique and ground breaking is the combination of these three proven processes into one step.
A Green And Clean Company
HPQ Silicon UREVAP(TM) QVR will also be implementing a process to make Sg Si, which is estimated to generate 14.1 kg CO2 eq/Kg SG Si, versus the 54.0 kg CO2 eq/Kg SG Si of emissions generated by the Siemens process (90% of the present production process). This represents 75% fewer greenhouse gas emissions, which is justified by elimination of the emissions emanating from the use of chemicals, as well as, energy consumption from the additional purification step.
High Purity Quartz Properties
HPQ Silicon is also the largest holder of High Purity Quartz properties in Quebec, with over 3,500 Ha under claims. Despite the abundance of quartz, very few deposits are suitable for high purity applications. High Purity Quartz supplies are tightening, prices are rising, and exponential growth is forecast. Quartz from the Roncevaux property successfully passed rigorous testing protocols of a major silicon metal producer confirming that our material is highly suited for their silicon metal production.
Disclaimers:
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 Company’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 Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company 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 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.
For further information contact
Bernard J. Tourillon, Chairman and CEO Tel (514) 907-1011
Patrick Levasseur, President and COO Tel: (514) 262-9239
www.HPQSilicon.com
Or
Carl Desjardins, Paradox Public Relations Inc., Tel (514) 341-0408
Vancouver, BC, Canada / August 4, 2016 – Pacific North West Capital Corp. (“PFN”, the “Company”) (TSXV: PFN; OTCQB: PAWEF; FSE: P7J; announces that it has signed an agreement with Mustang Minerals Corp. (TSXV: MUM) to acquire 100% interest in 6, Strategic, Mineralized Claims, of Mustang’s River Valley Platinum Group Metal (PGM) property, near Sudbury, Ontario (Figure 1). The River Valley PGM Extension Claims are adjacent to, and south of, PFN’s current River Valley PGM Project mining leases. The acquisition increases the size of PFN’s project footprint to more than 64 km2 (16,000 acres), mainly on the highly PGM mineralized River Valley Intrusion. The six acquired claims overlay a 4 km long PGM mineralized trend, which is the southward continuation of the River Valley PGM Deposit, on PFN’s mining leases to the north. With the acquisition, the total strike length of the River Valley PGM Deposit increases to 16 km, on PFN’s property. Mustang’s work on the property included Mapping, Prospecting, Geophysical Surveys and Diamond Drilling. Surface grab samples returned assays of up to 10 g/t PGM. A total of 57 diamond holes were drilled, for more than 16,000m. Highlights of the drilling include: 1.42 g/t PGM over 9.0m in hole MR02-59, 4.0 g/t PGM over 2.1m in hole MR02-62, and 2.2 g/t PGM over 4.5m in hole MR02-64. The Main Mineralized Zone remains open at depth. Ground Geophysical Survey Results and Structural Geology Interpretation of the property, reveal Priority Exploration Targets, in under-explored areas, which resemble the high-grade T2 Discovery and other similar targets on the adjacent PFN mining leases (Figures 2 & 3) (see PFN press release dated March 11, 2015).
-PFN’s property acquisition increases strike length of mineralization from 12 km to 16 km
-Mineralized drill core, surface grab samples and historic showings
-Surface grab samples grading up to 10 g/t Platinum Group Metals (PGM)
-Drill core samples grading up to 2.2 g/t PGM over 4.5m from 60.5m downhole
-PFN’s property position at River Valley increased to a total of 64 km2 or 16,000 acres
-Summer Surface Exploration Program underway to guide planned Fall Drill Program
-PFN’s River Valley Project is Canada’s Largest Undeveloped Primary Platinum Group Metal Project, with 2.5 Moz PGM, in near-surface Measured and Indicated Resources, within 100 km of Sudbury
-Excellent Infrastructure Support, with Year-Round Road Access and nearby Rail, Power and Communities and 100 km from Sudbury Metallurgical Complex
-New 100% owned Lithium Division, with Pegmatite Projects in Manitoba and Brine Projects in Nevada and Summer/Fall Exploration Programs In Progress
The recently announced Surface Exploration Program for PFN’s River Valley PGM Project (see PFN press release dated June 15th, 2016), will be expanded to cover the newly acquired claims from Mustang Minerals Corp.
The six claims were acquired from Mustang Minerals Corp., for $50,000 cash and shares of PFN.
The shares are subject to a regulatory hold of 4 months and 1 day, and TSX Venture Exchange approval of the Transaction. Mustang Minerals Corp. retains a 1% Net Smelter Return (NSR) on any production from the six claims. The NSR can be purchased by PFN at any time for $500,000. The six claims were acquired from Mustang Minerals Corp. for $50,000 cash and shares of PFN.
Figure 1: Geological map showing the location of the PGM exploration property acquired from Mustang Minerals Corp. The acquired property is south and adjacent to PFN’s Mining Leases, covering the River Valley PGM Project. The acquisition increases the strike length of the PGM deposit, to 16 km, 64 km2, or 16,000 acres, on PFN property.
Figure 2: River Valley location (inset) and Property Geology Maps, showing the position of the Target T2 Discovery, at the north end of the PGM Deposit, between the Dana North Zone to the east and the Pardo Zone to the north. Note location of the Spade Zone, discovered in 2012 but never followed up.
Click Image To View Full Size
Figure 3: Map showing location of three T2-like Drill Targets, at the north end of the River Valley PGM Deposit, on PFN’s Mining Leases.
About PFN’s Platinum Group Metals Division
River Valley is Canada’s Largest Undeveloped Primary PGM Deposit.
Achievements to date and Future Plans for River Valley are outlined below as follows:
Include more than 600 holes drilled, since year 2000, and several Mineral Resource Estimates and Metallurgical Studies;
– Prepared by Tetra Tech (Wardrop)
– High Confidence: Measured plus Indicated = 72% of total
– Reported on PdEq basis: Pd=40% & Pt=20% of the payable metals
– Pd to Pt ratio = 2.5:1; Cu to Ni ratio = 3:1
– High Grade Potential: particularly in the north part of River Valley Deposit
Click Image To View Full Size
– Resources under Evaluation for Development Potential, as Open Pit Mining Operation
Click Image To View Full Size
-Drill hole intercepts much higher than the average grade, of current Mineral Resource Estimate
-Possible New Mineralized Zone at the north end of the River Valley Deposit
-Show potential to take the River Valley PGM Project in a New Direction
-More drilling required
Click Image To View Full Size
-Mineral Prospecting and Geological Mapping on surface: In Progress
-Drill Programs targeted to add more higher grade: Drilling Slated for Fall 2016
-Geological Interpretation and 2D/3D Modelling of all Drill and Surface Results
-Ongoing Strategic Partner Search for River Valley
About PFN’s Lithium Division
The company’s Lithium Division will focus on the Discovery, Acquisition, Exploration and Development of Lithium Projects in Canada. In the United States, the company will use its wholly owned U.S.A subsidiary to Acquire and Develop Projects, in Active Mining Camps, in Nevada, Arizona and California.
Management believes that these New Age Metals, Lithium, PGMs and Rare Earths, have robust macro trends with surging demands and limited supply. Going forward, this New Division will Explore for the Minerals needed to fuel the demand for Energy Storage and other core 21st Century Technologies.
The company has a growing portfolio of Lithium Projects: The Clayton Valley Forks Li Project, in Nevada, is a recent Lithium Brine Project acquired by the company (see PFN News Releases: April 25th, 2016 and May 9th, 2016).
The company also has several Hard Rock Lithium Projects in Canada: To date the company has Acquired 4 Hard Rock Lithium Projects, in the Winnipeg River Pegmatite Field, in southeast Manitoba (see PFN News Releases: April 21st 2016, May24th, 2016, June 15th, 2016 and July 5th, 2016). This Pegmatite Field hosts the giant Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying capacities, since 1969. Today, the Tanco Mine is focused on the Mining and Production of Cesium Formate, a completion fluid for the petroleum industry. PFN’s Li Projects are strategically situated to further Explore this Pegmatite Field. Presently, the company is the Largest Claim Holder in the Winnipeg River Pegmatite Field.
Lithium and Platinum Group Metal prices have improved drastically in recent months. Lithium supplies remain in deficit relative to their demand. Both Metals Groups are used for the expanding worldwide automobile industry (conventional and electric). In the case of PGMs, demand is increasing for Autocatalysts, a key component for reducing toxic emissions, for automotive, gasoline and diesel engines. Regarding to Lithium, there is an ever increasing demand for batteries in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.
QUALIFIED PERSON
The contents contained herein that relates to Exploration Results or Mineral Resources, is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for Pacific North West Capital. Dr. Stone is the Qualified Person, as defined by National Instrument 43-101 and has reviewed and approved the technical content.
On behalf of the Board of Directors
” Harry Barr ”
Harry Barr
Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements. This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
August 4, 2016 / Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company” (TSX-V: BFF; OTCQB: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that a sampling program designed to test for lithium values in surface soils and/or playa evaporates has been initiated at the Company’s 100% owned Big Smokey Valley (North) project. Geochemical sample points are being arranged on a grid pattern of 11 lines spaced 400 meters apart with stations every 200 meters along the lines. It is expected that 170 sample points will be measured. Results should be available in approximately 3 weeks.
About the Big Smokey Valley (BSV) Lithium Project:
The BSV Lithium Project consists of 160 placer claims, 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Nye County, Nevada, 12 miles east of the town of Austin and extends approximately 100 miles in a southwesterly direction to reach a southern terminus near Clayton Valley. The northern section, where the claim area is located, contains three geothermal resources; the Darrough, the McLeod and the Spencer hot springs. Nevada Energy Metals has acquired a 100% interest in the property, free of royalty payments.
Historical gravity survey results indicate the depth of valley fill to be approximately 5,100 feet and that there is subsurface closure of the valley a short distance to the south of the claim block. The basin is fed by anomalous lithium bearing geothermal fluids interpreted to be meteoric waters heated by relatively deep circulation in the earth’s crust.
Historical sediment sampling results for lithium in the basin were reported in the range of 130 to 155 ppm lithium for 4 samples (J.R. Davis, U.S. Geological Survey, Denver, Co.)
Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG, Elko, Nevada.
About Nevada Energy Metals: http://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a well funded, Canadian based, exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has ownership of 77 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America (70% optioned-out to American Lithium Corp (TSX-V: Li). Nevada Energy Metals has also acquired: 100 claims (Teels Marsh West) covering 2000 acres (809 hectares) at Teels Marsh, Mineral County, Nevada, a prospective lithium exploration project, 100% owned without any royalties; the San Emidio Desert lithium project, consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; the Alkali Lake Project in Esmeralda county, is a 60% earn in option agreement from Dajin Resources Corp (TSX-V: DJI), where near surface lithium values have been confirmed; the Dixie Valley Project consisting of 911 claims covering 73.6 square kilometers/28.4 square miles (7,363 hectares/18,194 acres) of salt marsh playa.
On Behalf of the Board of Directors
Rick Wilson, President & CEO
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Disclaimer for Forward-Looking Information:
The information discussed in this press release may include “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forward looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. It is important that each person reviewing this release understand the significant risks attendant to the operations of the Company. Nevada Energy Metals Inc. disclaims any obligation to update any forward-looking statement made herein.