Posted by AGORACOM-JC
at 7:06 PM on Monday, December 21st, 2020
ThreeD Capital (IDK:CSE / IDKFF:OTCQB) prides itself on discovering great companies before everyone else … and so do shareholders who are being rewarded with another 52 week high thanks to Chairman and CEO Sheldon Inwentash, who is showing once again that he can find and invest in great “Ignored and undervalued companies” on his way to a 610% gain for IDK Year To Date.
He may make it look easy but Inwentash tirelessly casts a wide net 24/7/365 (trust us, we know) in his favourite industries to find best of breed companies in either Disruptive Technologies or Junior Resources. And when he finds them, he isn’t afraid to have IDK invest big and be patient, something most investors just aren’t willing to do when they’re fixated on just daily or even hourly moves.
That’s why IDK, is like and ETF for ground floor investments that small cap investors would either be unable to find (private) or unable to participate in (early round accredited investors) or unable to hold.
For new investors to the markets in 2021 who don’t know him but better get to know him ASAP, Sheldon Inwentash is one of the greatest investors in Canadian history. As Founder, Chairman and CEO of IDK, Inwentash’s track record of success speaks for itself, including successful exits in the hundreds of millions and even billions of dollars in previous years. His last investment company commanded a market cap north of $1 Billion and now he’s looking to create another success with IDK.
Will he do it? He’s sure off to a good start so far by quietly making investments over the past couple of years that are now starting to pay off. In this interview Inwentash discusses:
His investment philosophy
Some of his big 2020 winners including
Peak Fintech $PKK – $PKKFF
Loop Insights $MTRX – $RACMF
HPQ Silicon $HPQ
Esports Entertainment Group $GMBL
Bluesky Digital $BTC
ImagineAR $IP $IPNFF – where he is re-accumulating again
Why he’s investing heavily in gold juniors
Why he’s investing heavily in crypto currencies
Best of all, after one hell of a ride for the financial markets in 2020, Inwentash talks about why 2021 “is the year to be all in”
Watch this great interview … because when a legendary financier speaks, every small cap investor should be listening. We know we do.
Posted by AGORACOM
at 7:32 AM on Friday, December 18th, 2020
Vancouver, British Columbia–(Newsfile Corp. – December 18, 2020) – Fabled Silver Gold Corp. (TSXV: FCO) (FSE: 7NQ) (“Fabled” or the “Company“) is pleased to announce the listing of its common shares for trading on the Frankfurt Stock Exchange (“FSE”) under the symbol “7NQ” and WKN # “A2QKYJ “.
The FSE is the world’s third largest organized exchange-trading market in terms of turnover and dealings in securities. With over 3,000 international companies listed on the FSE and investors directly connected to the FSE, the FSE represent 35% of the world’s investment capital.
The Company’s shares will now be cross-listed on the TSX Venture Exchange and the Frankfurt Stock Exchange. Fabled expects the FSE listing will help increase trading liquidity and facilitate investment in the Company by institutional and retail investors across Europe. This listing does not impact the total number of common shares outstanding in the Company.
Mr. Peter Hawley, President and CEO of Fabled, commented: “Fabled is committed to building shareholder value and the Frankfurt Stock Exchange listing will enable international investors to participate in the Company’s growth and development. We feel this is a great opportunity to introduce Fabled to a European investing audience at a time when Fabled is actively drilling at the Santa Maria project.”
Option Grants
Fabled also is pleased to announce that pursuant to its stock option plan it has granted an aggregate of 3,850,000 stock options to certain directors, officers and consultants, each exercisable to acquire one common share of Fabled at an exercise price of $0.08 per common share until December 18, 2030. The stock options vest as to 25% on the date of grant, and as to 25% every 6 months until fully vested.
About Fabled Silver Gold Corp.
Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The company’s mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.
The company has entered into an agreement with Golden Minerals Company to acquire the Santa Maria project, a high-grade silver-gold property situated in the centre of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.
For further information please contact:
Mr. Peter J. Hawley, President and C.E.O. Fabled Silver Gold Corp. Phone: (819) 316-0919 [email protected]
Posted by AGORACOM
at 4:32 PM on Monday, December 14th, 2020
Fabled Silver Gold Corp. (TSXV: FCO)The Santa María Property is an under-explored, high-grade silver-gold project with significant exploration potential to expand mineral resources and identify new discoveries.
Fabled Silver Gold Company Highlights:
Commenced drilling on 100% option at Santa Maria Mine in Mexico
2020 NI 43-101 Resource of 3.2Moz Indicated and 1.1Moz Inferred in two primary veins
Two distinct Epithermal veins have been partially explored
Santa María Property is an under-explored, high-grade silver-gold project with significant exploration potential
19 significant vein structures exists within the property and provides future virgin exploration opportunities
Geophysical survey on the property and has successfully identified multiple targets for exploration and drilling
Santa Maria Deposit
High Grade silver-gold property located in mining friendly jurisdiction of Parrall, Mexico
The Parral mining district is situated in the center of the Mexican Silver belt, a district of epithermal silver gold mineralization
The belt has been recognized as producing more silver than any other equivalent are in the world
2018 PEA very supportive at current market prices
2 Mettalurgical Studies completed
Santa Maria vein structures provide many promising exploration and possibly future mining possibilities
The Santa Maria mine has never been systematically, or explored thoroughly with modern methods
The Asset: Santa Maria Mine 43-101
3.2Moz Indicated and 1.1Moz Inferred in two primary veins
High grade silver-gold property located in the mining friendly jurisdiction of Parrall, Chihuahua, Mexico.
The Parral mining district is situated in the centre of the Mexican silver belt epithermal silver-gold vein districts. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.
43-101 Technical Report completed on December 02, 2020 by Mineral Resources Engineering.
Significant vein structures within the property provides future exploration and mining opportunities.
Posted by AGORACOM
at 8:25 AM on Monday, December 14th, 2020
Vancouver, British Columbia–(Newsfile Corp. – December 14, 2020) – Fabled Silver Gold Corp. (TSXV: FCO) (“Fabled” or the “Company“) is pleased to announce the completion of the first ever ground geophysical survey on the Santa Maria Property, in Parral, Mexico and subsequent commencement of drilling. Fabled’s management team strongly believes that the Santa María Property is an under-explored, high-grade silver-gold project with significant exploration potential to expand mineral resources and identify new discoveries.
The first phase of drilling will consist of a minimum of 8,000 meters of HQ size core with a Versadrill 1.4 mount track. Drilling is expected to define the Santa Maria veining at depth and to the east and west using the IP anomalies as a target. This will be followed by pure exploration to test virgin IP targets to the north of the property, as identified by the recent survey. Fabled has awarded the surface diamond drill contract to Maza Diamond Drilling SA DE CV.
Peter J. Hawley, CEO and President remarks: “This is the first ever detailed geophysical survey on the property and has successfully identified multiple targets for exploration and drilling, which continues to support our theory of not only multi phases of mineralization but the relationship to structural controls. The results have been incorporated into surfacing mapping, sampling and underground and surface drilling resulting in a new theory of mineralizing events which should enhance our exploration success. Over four years past owners have only drilled approximately 9,600 meters and we are embarking on an initial 8,000-meter program to determine the true potential of the property, which is expected to take five months to complete.”
A video summary of today’s news release is available here.
Geophysical Interpretation and Survey Results
A 3-Dimensional Instantaneous Potential, (“IP”) survey covered the entire property at 50-meter line spacing and was 16 blocks in size with penetration to -500 meters minimum. The complete survey resulted in pseudo sections with 2D inversion for each line, a property plan map for chargeability and resistivity; and interpretative map with axis of anomalies and a Voxel 3-Dimensional model.
In addition, 27 kilometers of ground magnetics was completed over the property resulting in a final product consisting of a topographic plan map, total field, first derivative and reduced to the pole and 3D inversion magnetics.
A total of 11 first priority IP targets have been delineated property wide (see Figure 1 below), which are in a generalized east – west direction. Anomaly IPSM-1 located 400 meters to the east of the last surface expression of the Santa Maria Veins is defined as sub-cropping, (very shallow) and an extension of the Santa Maria veining. All other IP anomalies define new trends in the northern sector and range from shallow in depth to deep seated, +/- 100-150 meters in depth. The deeper anomalies are described as wide bodies in the areas where they intersect the secondary mineralized north – south veining. The geological team has collected 26 surface samples over all anomalies, and these have been submitted to ALS Chihuahua Laboratory for analysis.
Fabled’s reinterpretation of the age and mineralizing events and structures on the Santa Maria property finds that the Santa Maria and Santa Maria dos veins are hosted in a primary generalized east – west trending rhyolite zone and mineralization consists of silver and gold only. Younger Parral formation, post mineralization, sediments overlay the vein trends to the west, east, and in the north of the property.
These sediments have been structurally stressed / sheared in a generalized north – south trend as a result of the San Rafael graben northeast of the property, a major tectonic feature that has a regional effect of the placement of mineralization. These structures not only slightly offset the east – west trending Santa Maria Veins but wide zones of hydrothermal breccias are encountered where the intersection occurs. These north – south trending structures are interfiled with calc silicate veining which surface sampling has determined they not only contain silver – gold values but also lead, zinc, and copper. This has been interpreted to be a second mineralizing event.
Structure on structure creating dialization zones consisting of hydrothermal breccias have been reported in drill hole SM18-03 which reported 43.35 meters grading 0.78 g/t Au, 232.89 g/t Ag including a section reporting 3.35 g/t Au, 1,1012.63 silver over 8.94 meters.
About Fabled Silver Gold Corp.
Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The company’s mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.
The company has entered into an agreement with Golden Minerals Company to acquire the Santa Maria project, a high-grade silver-gold property situated in the centre of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.
For further information please contact:
Mr. Peter J. Hawley, President and C.E.O. Fabled Silver Gold Corp. Phone: (819) 316-0919 [email protected]
Posted by AGORACOM-JC
at 7:27 AM on Monday, December 14th, 2020
Announces that it will begin to publicly disclose unaudited net asset value per share on a monthly basis, commencing with the January 31, 2021 period.
This expands on ThreeD’s established practice of releasing NAV on a quarterly basis and reflect our response to shareholder interest in receiving NAV information more frequently.
TORONTO, Dec. 14, 2020 – ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK / OTCQB:IDKFF) announces that it will begin to publicly disclose unaudited net asset value per share (“NAV”) on a monthly basis, commencing with the January 31, 2021 period. This expands on ThreeD’s established practice of releasing NAV on a quarterly basis and reflect our response to shareholder interest in receiving NAV information more frequently.
Monthly NAV will be disclosed by the Company in a press release and be available on the Company’s website approximately 15 days after month-end. NAV will be calculated based on unaudited month-end financial information.
NAV is a non-GAAP measure calculated as the value of total assets less the value of total liabilities divided by total number of common shares outstanding, as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies.
“ThreeD believes that providing monthly NAV updates, will be beneficial to our shareholders by providing information that is useful to understanding our performance”, states Sheldon Inwentash, Chairman and CEO, “This measure will help provide a benchmark to evaluate our business relative to that of our peers”.
About ThreeD Capital Inc.
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.
For further information: Gerry Feldman, CPA, CA Chief Financial Officer and Corporate Secretary [email protected] Phone: 416-941-8900 ext 106
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward-Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of Canadian securities laws including, without limitation, statements with respect to timing and content of future disclosures of the NAV of the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur including, without limitation, risks relating to the timing and content of future public disclosures by the Company or related to the fact that the term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. Although the Company believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company’s actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Posted by AGORACOM
at 2:00 PM on Friday, December 11th, 2020
Beauce Gold Fields is focused on placer to hard rock exploration and discovery in the Beauce region of Southern Quebec. The the St-Simon-les-Mines Gold project is home to Canada’s first gold rush that pre-dates the Yukon Klondike that produced the largest gold nuggets in Canadian mining history (50oz to 71oz). Hosted along a 6 kilometer long placer channel, Beauce has identified a major Fault Line that coincides with an interpreted fault structure across the property. Evidence suggests the erosion of the Fault Line as a probable source of the historical placer gold channel. Click Here for More Info
If you are trying to find gold it helps to know where it came from.
To start with there is only one kind of gold. Placer gold and lode gold both come from the same place and are made of the same stuff. Gold is not actually formed on earth it was formed millions of years ago in distant stars. In large stars, much larger than our sun elements are combined together in their cores through the process of nuclear fusion. Our sun like all stars runs on fusion too but it does not have enough mass to produce atoms larger than carbon or oxygen. Larger stars can generate the gravitational force and heat in their cores necessary to produce elements as heavy as iron. To create things like gold even more energy is required and that takes place in a supernova.
When a large star runs out of light matter the fusion reaction is no longer sustainable and the star begins to collapse on itself very rapidly. The supernova collapse takes place in a matter of seconds. While the star is collapsing it produces heat very rapidly and explodes in what is essentially a humongous nuclear bomb. Supernova events are so bright and powerful that they are brighter than then entire galaxy that hosts the star. This nuclear explosion allows for higher energy fusion reactions that can produce heavy elements like gold. The explosion also scatters the newly created material over great distances.
So how did the star dust make it into the mountains and rivers on earth? When our solar system began approximately 4.6 billion years ago it was a cloud of dust and gas called a nebula. This nebula was composed of the remains from older stars that had spread their guts around the universe in supernova explosions. The molecules of the nebula naturally pulled on each other by the force of gravity growing more and more dense. As the nebula was collapsing in on itself it also started to spin faster and faster. The condensing and spinning action formed the nebula into a disk, much like you spin dough into a pizza. In the center where the force of gravity is the strongest a new star was created, our sun. The swirling mass around the sun clumped together into the planets, moons, asteroid and comets that we see today.
The early solar system was different that it is today. The big planets did not form all at once, it was a gradual process. Small plantoids formed first and crashed and coalesced into each other to form larger planets. In theory the distribution of gold was basically even in all the rocky material that made up the early solar system. In the early earth, while it was still completely molten the heavy material (such as iron and precious metals like gold) all sunk to the center of the planet to form the core. The process is similar to the way that dense material sinks to the bottom of your gold pan. If you could mine the core you would be very rich but it would be very difficult with current gold mining equipment. Current scientific theories estimate that there is enough gold in the core to cover the surface of the earth with a 4 meter thick layer of pure gold.
We can only reach gold that is trapped in the crust of the earth. The precious metals in the crust were put there by meteor bombardments that took place after the crust had formed. As these meteorites crashed into the surface of the earth they disintegrated and mixed their material into the upper mantle. The meteorite guts had the effect of enriching the amount of precious metals in the crust.
So we know where gold came from and how it was formed. Stay tuned for a future post to learn how the gold formed into deposits in the mountains and streams that we mine.
Posted by AGORACOM-JC
at 5:22 PM on Friday, December 4th, 2020
Announced that it and its Joint Actor has acquired ownership and control of an aggregate of 4,500,000 common shares and 4,500,000 common share purchase warrants of Bluesky Digital Assets Corp (“Bluesky”) on December 4, 2020.
The Subject Units represented approximately 16.2% of all issued and outstanding common shares of Bluesky as of December 4, 2020 immediately following the transaction described above (or approximately 27.8% on a partially diluted basis, assuming exercise of the Subject Warrants only), resulting in a corresponding increase in the percentage of shares held by ThreeD and its Joint Actor as a result of the transaction.
TORONTO, Dec. 04, 2020 — ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK / OTCQB:IDKFF) a Canadian based venture capital firm that invests in disruptive companies and promising junior resources companies, is pleased to announce that it and its Joint Actor has acquired ownership and control of an aggregate of 4,500,000 common shares (the “Subject Shares”) and 4,500,000 common share purchase warrants (the “Subject Warrants” and together with the Subject Shares, the “Subject Units”) of Bluesky Digital Assets Corp (“Bluesky”) on December 4, 2020. The Subject Units represented approximately 16.2% of all issued and outstanding common shares of Bluesky as of December 4, 2020 immediately following the transaction described above (or approximately 27.8% on a partially diluted basis, assuming exercise of the Subject Warrants only), resulting in a corresponding increase in the percentage of shares held by ThreeD and its Joint Actor as a result of the transaction.
Immediately before the transaction described above, ThreeD and the Joint Actor did not hold any securities of Bluesky.
Immediately following the transaction described above, ThreeD and the Joint Actor held an aggregate of 4,500,000 common shares (the “Post-Closing Shares”) and convertible securities entitling ThreeD and the Joint Actor to acquire an additional 4,500,000 common shares of Bluesky (the “Post-Closing Convertible Securities”), representing approximately 16.2% of the issued and outstanding common shares of Bluesky (or approximately 27.8% assuming exercise of such Post-Closing Convertible Securities only). Of this total, ThreeD held an aggregate of 2,500,000 of the Post-Closing Shares and 2,500,000 of the Post-Closing Convertible Securities (representing approximately 9.0% of the issued and outstanding common shares of the Company, or approximately 16.5% assuming exercise of such Post-Closing Convertible Securities only), and the Joint Actor held an aggregate of 2,000,000 of the Post-Closing Shares and 2,000,000 of the Post-Closing Convertible Securities, representing approximately 7.2% of the issued and outstanding common shares of Bluesky (or approximately 13.4% on a partially diluted basis, assuming exercise of such Post-Convertible Securities only).
The Subject Units were acquired in a private placement and not through the facilities of any stock exchange. The holdings of securities of Bluesky by ThreeD and the Joint Actor are managed for investment purposes, and ThreeD and the Joint Actor could increase or decrease their investments in Bluesky at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor. The aggregate consideration payable for the Subject Units was $405,000, or $0.09 per Subject Unit.
The trade was effected in reliance upon the exemption contained in Section 2.3 of National Instrument 45-106 on the basis that each of ThreeD and the Joint Actor is an “accredited investor” as defined herein.
About ThreeD Capital Inc.
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.
For further information: Gerry Feldman, CPA, CA Chief Financial Officer and Corporate Secretary [email protected] Phone: 416-941-8900 ext 106
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.UnfollowRecommendReplyNew MessagePrev MessageBack To ForumThreaded View Next Message Share Share Share Share New Message Title: Message:
Posted by AGORACOM
at 7:27 AM on Tuesday, December 1st, 2020
St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN)(OTC:SXOOF) (FSE:85G1) is pleased to announce that it has signed a Binding Letter of Intent with Altair International (US-OTC: ATAO) pursuant to which St-Georges has agreed to provide access to its patent pending lithium processing technology for lithium-in-clay mineral deposits, and also agreed to jointly develop a patentable electric vehicle battery recycling industrial process.
In return for the access to the lithium processing technology and as part of their contribution in the development of patentable intellectual property in regard to EV Battery Recycling, Altair will issue 2,000,000 common shares at signature of this Binding LOI. The company will also commit to 2 subsequent share issuance of 2 million shares each, the first at the filing of a joint patent application in regards to the battery recycling R&D effort and the second at the start of an Industrial Pilot Plant demonstrator of the battery recycling process. If all milestones are completed, a total of 6 million common shares of Altair will be issued in favor of St-Georges.
Altair will also make a total of US $300,000 cash payments to St-Georges. A first payment of US $150,000 on or before April 1st, 2021 and a second payment of US $150,000 on or before August 1st, 2021. Both companies will contribute equally to the battery recycling research & development effort and to the design and construction of a battery recycling industrial pilot-plant circuit in St-Georges contracted installations in Quebec.
Royalties
On Altair Nevada Lithium Project
The Parties will establish a 5% royalty stream on the commercial output of the Nevada Property for the whole mine life period. This royalty will be transferable at the discretion of St-Georges or its successors. It will be opposable to any successors of Altair as a lien on the mining assets. St-Georges and Altair will negotiate a right of first refusal in favor of Altair. The royalty, to be negotiated within the guidelines of the “Royalty Formula”, will take the form of a Net Revenue Interest or Net Revenue Return (“NRR“).
Based on the location of the lithium-in-clay mineral project of Altair, 20% of the established NRR will be assigned to Iconic Minerals (TSX-V: ICM) based on current active agreements between the two companies.
On the Commercial Recycling of EV Batteries
The parties will establish a mutually beneficial partnership royalty stream on the commercial implementation and output of the battery recycling technology. The proportionate ownership will be transferable at the discretion of St-Georges, Altair or its successors.
The parties agreed to enter into a long form Definitive Agreement on or before February 5, 2021. Definitive agreement will be subject to review by regulatory authorities.
The companies expect to issue additional information in the coming weeks regarding the joint battery recycling technology development effort.
Vilhjalmur Thor Vilhjalmsson, St-Georges’ President & CEO commented: “(…) With the continued work of our research and development team, it is a great pleasure to team up with Altair to take this process further. The SX team has been looking at alternative methods, including using our proprietary technology in recycling EV batteries. We can see this as an opportunity to further broaden the scope of our developments and welcome the partnership. This will also enable us to finetune the Nevada operations already in place with Iconic Minerals over the forthcoming years (…)”
Leonard Lovallo, President of Altair, commented that “We believe that the lithium extraction and purification processes which St-Georges has developed have the potential to reshape the economics of the lithium mining sector, and we are incredibly excited to have partnered with them on this endeavor. As the demand and marketplace for lithium continues to expand with the ever-increasing popularity of EV vehicles across the globe, the scope and applications of the technologies which we are partnering with St-Georges on will only increase.”
Lithium Processing Technology Update
St-Georges technical team is now ready to initiate work aimed at optimizing the purification process of its lithium process and recuperation technology. The objectives are to minimize chemical losses, optimize total process recovery and optimizing the value of the byproducts. The company also intends to validate multiple resources and assure the selectivity of lithium recovery works on different types of resources.
Multiple initiatives will be run in parallel with the company’s strategic partners and suppliers. This effort should lead to a complete metallurgical simulation to size and price equipment. St-Georges is committed to utilizing multiple laboratories in parallel in order to protect intellectual proprietary processes and to accelerate IP extension.
St-Georges contractors have completed the preparation of a spodumene concentrate sourced from a Quebec based mineral resources and the company is now ready to initial leaching tests in a pilot plant environment. The company is expecting material recently prepared from the Bonnie Claire Project in Nevada from its partner Iconic Minerals. The company expects to run a complete pilot mining processing circuit on reception of the material. This next development effort should establish the recuperation and purification parameters needed specifically for that project as well as the final tweaked chemical recipe for the resin used to coat the lithium balls used in the last recuperation and refining stage.
ON BEHALF OF THE BOARD OF DIRECTORS
“Vilhjalmur T. Vilhjalmsson”
VILHJALMUR THOR VILHJALMSSON President & CEO
About St-Georges
St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on the Quebec’s North Shore.
Posted by AGORACOM
at 2:11 PM on Monday, November 30th, 2020
Drills 20.33 m of 2.47 g/t Au at Adumbi
TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) — Loncor Resources Inc. (“Loncor” or the “Company“) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce that the first core hole of a 7,000 metre drilling program at its Adumbi deposit has intersected multiple gold sections including 20.33 metres grading 2.47 g/t gold (including 4.8 metres grading 5.40 g/t Au), 7.33 metres grading 5.80 g/t Au and 20.77 metres grading 1.72 g/t Au, on its 84.68% owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo (see Figure 1).
Mineralized sections are summarised in the table below:
Borehole Number
From (m)
To (m)
Intersected Width (m)
Grade (g/t) Au
LADD001
202.58
223.35
20.77
1.72
LADD001
231.27
237.17
5.90
1.89
LADD001
251.27
258.60
7.33
5.80
LADD001
295.25
298.70
3.45
2.10
LADD001
301.62
321.95
20.33
2.47
LADD001
Incl. 317.11
321.95
4.80
5.40
Borehole LADD001 had an inclination of minus 65 degrees and azimuth of 220 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated and it is estimated that the true widths of the mineralised sections are 82% of the intersected width. All intercepted grades are uncut.
The gold mineralization at Adumbi is associated with a thick package (up to 130 metres) of interbedded banded ironstone and quartz carbonate and chlorite schist with higher grade sections being found in a strongly altered siliceous unit termed “Replaced Rock” (RP) where structural deformation and alteration has completely destroyed the primary host lithological fabric. Disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite which can attain up to 20% of the total rock in places.
The objective of the 7,000 metre drilling program is to outline additional mineral resources to the current 2.5 million ounces on Loncor’s 84.68%-owned Imbo Project which contains the Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au). At the Adumbi deposit where there is a current inferred resource of 2.19 million ounces of gold (28.97 million tonnes grading 2.35 g/t Au), drilling is targeting mineralized zones within the US$1,500 open pit shell where closer spaced holes such as LADD001 are required to delineate additional mineral resources. Drilling will also focus on outlining mineral resources below the pit shell where the gold mineralization remains open at depth over a strike length of over 600 metres.
In addition to core hole LADD001, LADD003 has now been completed to the southeast of LADD001 and within the open pit shell and will be submitted for assay. Deeper holes LADD004 and LADD005 are currently being drilled to intercept the downdip/down plunge mineralized zone below the open pit (see Figure 2 – Longitudinal Section of the Adumbi Deposit). Hole LADD004 is targeting mineralization 150 metres below previous hole S53 drilled in 2017 which intersected 23.5 metres grading 6.08 g/t Au and 9.37 metres grading 3.70 g/t at the base of the open pit shell.
Commenting on these drilling results, Loncor President Peter Cowley said: “We are encouraged by the results of this first hole of our 7,000 metre drilling program at Adumbi where we are targeting a significant increase of resources, both within and below the open pit shell. Exploration is also ongoing on new targets along the 14 kilometre long mineralized trend on the Imbo permit in order to generate additional drill targets. If we achieve our objectives, the next step will be a Preliminary Economic Assessment to illustrate the positive economic potential that we believe is contained within Adumbi and the neighbouring deposits and other targets within the Imbo exploitation permit.”
Quality Control and Quality Assurance 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 Company’s on-site sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company’s QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory.
Qualified Person Peter N. Cowley, who is President of Loncor and a “qualified person” as such term is defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.
Technical Reports Additional information with respect to the Company’s Imbo Project (which includes the Adumbi deposit) is contained in the technical report of Minecon Resources and Services Limited dated April 17, 2020 and entitled “Independent National Instrument 43-101 Technical Report on the Imbo Project, Ituri Province, Democratic Republic of the Congo”. A copy of the said report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.
Additional information with respect to the Company’s Makapela Project, and certain other properties of the Company in the Ngayu gold belt, is contained in the technical report of Venmyn Rand (Pty) Ltd dated May 29, 2012 and entitled “Updated National Instrument 43-101 Independent Technical Report on the Ngayu Gold Project, Orientale Province, Democratic Republic of the Congo”. A copy of the said report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.
About Loncor Resources Inc. Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Belt in the northeast of the Democratic Republic of the Congo (the “DRC”). 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 220 kilometres southwest of the Kibali gold mine, which is operated by Barrick Gold (TSX: “ABX”; NYSE: “GOLD”). 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 approximately 2,000 km2 of Loncor ground in the Ngayu Greenstone Belt that they are exploring. As per the joint venture agreements entered between Loncor and Barrick, Barrick manages and funds exploration on the said ground 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 have commenced 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 joint ventures, certain parcels of land within the Ngayu Belt surrounding and including the Adumbi and Makapela deposits have been retained by Loncor and do not form part of any of the joint ventures with Barrick. Barrick has certain pre-emptive rights over the Makapela deposit. 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 84.68% of this resource being attributable to Loncor via its 84.68% interest in the project. 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).
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 3:51 PM on Thursday, November 26th, 2020
Sheldon Inwentash shares his current investment philosophy, focusing on global debt and currency devaluation along with his appetite for digital and other disruptive technologies.
Mr. Inwentash has more than 30 years of investing experience and has been instrumental in raising $15 billion for his portfolio companies over the last 15 years. He co-founded Visible Genetics, the first commercial pharmacogenomics company, in 1994 and exited in 2001 to Bayer. Through two decades leading Pinetree Capital, Mr. Inwentash created significant shareholder value through early investments in Queenston Mining (acquired by Osisko Mining Corp. for $550-million), Aurelian Resources (acquired by Kinross for $1.2-billion) and Gold Eagle Mines (acquired by Goldcorp for $1.5-billion) to name a few.
