Posted by AGORACOM
at 10:48 AM on Thursday, August 8th, 2019
SPONSOR: GGX Gold Corp (TSX-V: GGX) GGX’s Gold Drop Property resides within a multi-million ounce gold producing region in British Columbia. The property holds the C.O.D. Vein and recently discovered Everest Vein. GGX has initiated 2019 drilling at Gold Drop. Click Here for More Info
Beijing wants more gold in its reserves.
China’s central bank expanded gold reserves again in July, pressing on with a run that stretches back to December.
The People’s Bank of China raised holdings to 62.26 million ounces from 61.94 million a month earlier, according to data on its website.
In tonnage terms, the inflow was close to 10 tons, following the addition of about 84 tons in the seven months to June.
There’s a powerful constant amid the to-and-fro of the U.S.-China
trade war as currency policy gets dragged into the standoff between the
world’s two top economies: Beijing wants more gold in its reserves.
China’s central bank expanded gold reserves again in July, pressing
on with a run that stretches back to December. The People’s Bank of
China raised holdings to 62.26 million ounces from 61.94 million a month
earlier, according to data on its website. In tonnage terms, the inflow
was close to 10 tons, following the addition of about 84 tons in the
seven months to June.
Gold has rallied in 2019 to a hit a six-year high as global growth
stutters, central banks including the Federal Reserve eased policy, and
the festering trade war all combined to bolster demand. Increased
central-bank buying from China to Russia and Poland has helped to
buttress consumption at a time of rising prices. This week, the conflict
between Washington and Beijing worsened as the yuan was allowed to
breach a key level, reinforcing the case for havens.
“It is important for the country to diversify away from the U.S.
dollar,†Philip Klapwijk, managing director at consultant Precious
Metals Insights Ltd., said before the PBOC’s latest figure was released.
“Over the long run, even relatively small-scale gold purchases add up
and help to meet this objective.â€
Gold futures rose as much as 1.3% to $1,503.30 an ounce on Wednesday,
the highest since 2013, before trading at $1,500.70 at 11:26 a.m. in
London.
“This fits with China’s well established pattern of increasing gold
reserves month after month but not in a large enough volume to disrupt
the gold market,†said Ross Strachan, a senior commodities economist at
Capital Economics Ltd. “We expect them to continue this trend as part of
their long-term strategy to diversify their foreign exchange reserves.â€
Central banks continued to load up on gold this year,
helping push total bullion demand to a three-year high in the first
half, according to the World Gold Council. That trend is expected to
continue, with a survey of central banks showing 54% of respondents
expect holdings to climb in the next 12 months.
“Bear in mind that China is the largest mine producer of gold in the world,†Klapwijk added. “The state can always buy local mine production using†local currency, he said.
10% of
all the Silver ever produced on earth came within a 100km diameter of its past
producing Tabasquena Mine.
What
makes Advance Gold even more exciting is the fact they’ve found just as much
gold as silver since they started drilling Tabasquena over the past couple of
years.
After
discovering a cluster of epithermal veins in the “first layer of their
cake”, CEO Allan Barry Laboucan thinks he’ll find the massive source in the
second layer…. Because that’s where mines all around him have found their
source.
Watch
this great interview with him to find out why you should be circling Labour Day
on your calendar.
American Creek owns a 20% Carried Interest to
Production at the Treaty Creek Project in the Golden Triangle. 2019’s
first hole averaged 0.683 g/t Au over 780m
in a vertical intercept. The Treaty Creek property is located in the
same hydrothermal system as Pretivm and Seabridge’s KSM deposits.
Eric Sprott recently made a strategic 1$M investment in AMK
Lead by Shawn Ryan and Roger Moss, LAB has 2 district scale Gold projects in Labrador that have never seen any modern exploration techniques. Ashuanipi and Hopedale are being systematically explored for gold potential utilizing the same techniques that created the White Gold discoveries. At Ashuanipi , a 15km long by 2 to 6 km wide north-south trend exists and a second 14 km long by 2 to 4 km wide east-west trend exists. At Hopedale, 2019 exploration has discovered two new mineralized showings.First showing extends potential strike length by approximately 500 metres along strike of the Thurber Dog gold occurrence; Second showing was discovered in the Misery North area
GGX gold has discovered high grade gold silver and tellurium in the
Greenwood-Republic mining camp, British Columbia. The current 2019 drill
program follows up on 2018 intercept of high grade gold-silver (129 g/t gold and 1,154 g/t silver over 7.28 meter) from the near surface COD vein which is projected to be 1.5 kms in length. In addition tellurium grades were announced with “up to 3,860 g/t telluriumâ€, including “823 g/t tellurium over 7.28-meter core length†and “640 g/t tellurium over 6.90-meter core length. 2019 drilling on COD North is currently underway.
Great Atlantic is situated between Marathon Gold and Sokoman in
Canada’s newest emerging gold district. The Company reported a NI
43-101mineral resource estimate for the JMZ in late 2018 on Golden
Promise and 2019 is focused on prospecting and geochemical sampling at
high priority targets within the property. Planned 24 hole program in
the northern half of the property at the gold-bearing Jaclyn Zone,
specifically at the Jaclyn Main Zone (JMZ) and Jaclyn North Zone (JNZ).
Posted by AGORACOM
at 2:39 PM on Tuesday, August 6th, 2019
A 3D Induced Polarization (IP) geophysical survey on its Tabasquena project in Zacatecas, Mexico is underway.
Survey designed to complement and enhance current 3D model of Tabasquena Epithermal veins
Goal of the survey is to assess the depth potential below the near surface mineralized zone
Kamloops, British Columbia–(Newsfile Corp. – August 6, 2019) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to announce that a 3D Induced Polarization (IP) geophysical survey on its Tabasquena project in Zacatecas, Mexico is underway. This geophysical survey is designed to complement and enhance the 3D model derived from the recent drilling which confirmed a widespread gold and silver mineralized epithermal vein system.
Prior to Advance Gold acquiring the project, a limited IP survey had
been carried out. This historical IP survey effectively identified three
of the known veins as significant chargeability and resistivity
anomalies.
The goal of the survey is to assess the depth potential below the
near surface mineralized zone that was encountered in the andesites,
with the graphitic phyllites below still open at depth. It is important
to note that the vein systems in the nearby mines operated by Fresnillo
Plc., and MAG Silver’s Juanicipio mine currently under construction, are
epithermal veins systems focused on zones within the graphitic
phyllites.
The 3D IP geophysical survey will take thousands of data point
readings on an 800 X 500 metre grid. It is designed to give a clearer
picture of anomalies adjacent to and below the current drilling, which
is primarily down to 300 metres, and possibly see down to approximately
600 metres.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “We
are in a unique position for a gold and silver explorer as having found
a fully intact epithermal vein system. This is a fairly rare
occurrence. Making things somewhat challenging is that with a system
like this, the boiling zone of the system is deeper. This is the case in
all of the nearby mines around the cities of Fresnillo and Zacatecas,
Mexico. The mines are hosted in the graphitic phyllites below the
andesites. We have drilled a widespread zone of gold and silver
mineralization in the andesites at Tabasquena. Hopefully, once the
geophysical survey is completed we will be better able to focus our
deeper drilling in the search for the boiling zone of the system. With
the gold and silver markets gaining strength, it is a very exciting time
for us to be advancing this exceptional project. In addition to the
technical merits of the project, we are in one of the most prolific
mining regions worldwide for silver as 10% of the historical world
silver production comes from the state of Zacatecas, from epithermal
vein systems. Since we made the discovery of this system approximately
one year ago, the gold and silver markets have gone from being subdued
to much more optimistic. One of the defining attributes of this region,
in addition to the prolific mines, is that the costs for exploration,
development and mining are some of the lowest in the mining sector. We
have a highly prospective project at Tabasquena, are doing the work to
advance the project, have a small and tight share structure and will be
delivering crucial news as the market for gold and silver are improving
yet the menu for investors to choose from is small when it comes to the
exploration of quality projects.”
Julio Pinto Linares is a QP, Doctor in Geological Sciences with
specialty in Economic Geology and Qualified Professional No. 01365 by
MMSA., and QP for Advance Gold and is the qualified person as defined by
National Instrument 43-101 and he has read and approved the accuracy of
technical information contained in this news release.
About Advance Gold Corp. (TSXV: AAX)
Advance Gold is a TSX-V listed junior exploration company focused on
acquiring and exploring mineral properties containing precious metals.
The Company acquired a 100% interest in the Tabasquena Silver Mine in
Zacatecas, Mexico in 2017, and the Venaditas project, also in Zacatecas
state, in April, 2018.
The Tabasquena project is located near the Milagros silver mine near
the city of Ojocaliente, Mexico. Benefits at Tabasquena include road
access to the claims, power to the claims, a 100-metre underground shaft
and underground workings, plus it is a fully permitted mine.
Venaditas is well located adjacent to Teck’s San Nicolas mine, a VMS
deposit, and it is approximately 11km to the east of the Tabasquena
project, along a paved road.
In addition, Advance Gold holds a 14.63% interest on strategic claims
in the Liranda Corridor in Kenya, East Africa. The remaining 85.37% of
the Kakamega project is held by Acacia Mining (63% owned by Barrick Gold
Corporation).
For further information, please contact: Allan Barry Laboucan, President and CEO Phone: (604) 505-4753 Email: [email protected]
American Creek owns a 20% Carried Interest to Production at the Treaty Creek Project in the Golden Triangle. 2019’s first hole averaged 0.683 g/t Au over 780m in a vertical intercept. The Treaty Creek property is located in the same hydrothermal system as Pretivm and Seabridge’s KSM deposits. Eric Sprott recently made a strategic 1$M investment in AMK
Lead by Shawn Ryan and Roger Moss, LAB has 2 district scale Gold projects in Labrador that have never seen any modern exploration techniques. Ashuanipi and Hopedale are being systematically explored for gold potential utilizing the same techniques that created the White Gold discoveries. At Ashuanipi , a 15km long by 2 to 6 km wide north-south trend exists and a second 14 km long by 2 to 4 km wide east-west trend exists. At Hopedale, 2019 exploration has discovered two new mineralized showings.First showing extends potential strike length by approximately 500 metres along strike of the Thurber Dog gold occurrence; Second showing was discovered in the Misery North area
GGX gold has discovered high grade gold silver and tellurium in the Greenwood-Republic mining camp, British Columbia. The current 2019 drill program follows up on 2018 intercept of high grade gold-silver (129 g/t gold and 1,154 g/t silver over 7.28 meter) from the near surface COD vein which is projected to be 1.5 kms in length. In addition tellurium grades were announced with “up to 3,860 g/t telluriumâ€, including “823 g/t tellurium over 7.28-meter core length†and “640 g/t tellurium over 6.90-meter core length. 2019 drilling on COD North is currently underway.
Great Atlantic is situated between Marathon Gold and Sokoman in Canada’s newest emerging gold district. The Company reported a NI 43-101mineral resource estimate for the JMZ in late 2018 on Golden Promise and 2019 is focused on prospecting and geochemical sampling at high priority targets within the property. Planned 24 hole program in the northern half of the property at the gold-bearing Jaclyn Zone, specifically at the Jaclyn Main Zone (JMZ) and Jaclyn North Zone (JNZ).
Posted by AGORACOM
at 9:40 AM on Thursday, August 1st, 2019
SPONSOR: Great Atlantic Resources Corp (TSX-V: GR) Great Atlantic Resources. A Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold. Click Here for More Info
Central banks’ insatiable appetite for gold dominated the marketplace between April and June, according to the latest data from the World Gold Council
Global gold demand totaled 1,123 tonnes in the second quarter, up 8% from the second quarter of 2018.
For the first half of the year, physical gold demand rose of 2,181.7 tonnes, its highest level in three years.
(Kitco News) –
Central banks’ insatiable appetite for gold dominated the marketplace
between April and June, according to the latest data from the World
Gold Council (WGC).
In its second-quarter Gold Demand Trends report, the council said
that central banks bought a total of 224 tonnes of gold between April
and June. Official gold reserves increased by 374.1 tonnes in the first
half of the year — “the largest net H1 increase in global gold reserves
in our 19-year quarterly data series,†the analysts said in the
report.
“Buying was again spread across a diverse range of – largely emerging market – countries,†the WGC said.
The WGC said that nine central banks bought gold in the first half of the year.
“Central
banks, like other investors, sought safety in gold as they looked to
protect themselves in the face of many looming risks,†the analysts
said.
The report said that global gold demand totaled 1,123 tonnes in the
second quarter, up 8% from the second quarter of 2018. For the first
half of the year, physical gold demand rose of 2,181.7 tonnes, its
highest level in three years.
The report highlighted renewed strength in key sectors of the gold
market. In particular, gold jewelry demand in India increased by 12% to
168.8 tonnes, compared to the second quarter of 2018. This was the best
year-over-year quarterly increase since the second quarter of 2017.
“Indian demand was boosted early in the quarter by the wedding
season and festival buying, before slowing sharply as the gold price
rallied in June,†the report said.
The WGC noted that India’s gold demand faces strong headwinds as purchases have come to a “virtual standstill.â€
“The slowing economic environment and restrictions on the movement
of cash during the elections were a drag on demand in April and May,â€
the report said.
The India gold market was also hit with higher tariffs in early July with import duties rising to 12.5% from 10%.
“Although we do not expect this to have a long-term impact on gold
demand in India, we do see it having a dampening impact on Q3,
particularly as gold prices have remained elevated,†the WGC said.
While India saw strong growth in the second quarter, the world’s
largest gold consuming nation saw its third consecutive quarterly drop.
The WGC said that Chinese jewelry demand dropped by 4% in Q2 to 137.8
tonnes.
“Demand ground to a halt once the June price rally began and
retailer’s promotional efforts could not tempt consumers back.
Reportedly, showrooms were deserted as the quarter came to a close,†the
analysts said.
ETF Investment Demand Remains Robust
The second quarter started on a sour note for gold investors but
ended with a bang, according to the report. Renewed interest in
gold-backed exchange-traded products led the investment surge,
increasing by 67.2 tonnes in the second quarter an increase of 99% from
the second quarter of 2018.
The gains were predominantly seen in June as the month saw inflows
of 126.7 tonnes, reversing April’s outflows of 57.2 tonnes. The WGC
said that total hold holding reached a six-year high of 2,548 tonnes in
the first half of the year.
“Geopolitical uncertainty, dovish monetary policy commentary by
central banks, and a rising gold price were among the key factors that
drove investors to increase their holdings,†the analysts said.
The WGC highlighted the growing trend of European and U.K. investors
leading the way in the gold market. It noted that U.K.-listed funds
accounted for 75% of all global inflows during the second quarter.
“Investors sought the safe haven of gold amid the uncertainty
surrounding Brexit and the leadership battle that followed Theresa
May’s resignation as Prime Minister,†the analysts said. “The sharp drop
in the value of the pound also fueled inflows during the quarter as
the U.K.’s growth prospects were cut following repeated failures in
Brexit negotiations.â€
The WGC added that historic negative bond yields in German bonds also added to gold’s investment appeal.
Lackluster Coin and Bar Demand
Although
investors have been jumping into gold-backed ETFs, interest in
physical gold was fairly muted. The WGC said that gold coin and bar
demand dropped 12% in Q2 to 476.9 tonnes, the lowest level since 2009.
They noted that June’s sharp price rally has weighed on physical demand.
“This market has been struggling for some time, with many
traditional gold investors focused on America’s healthy economic growth,
low unemployment, and continued wage growth,†the WGC said. “The gold
price rally in June triggered selling by some investors, and coin
premiums in the secondary market fell to their lowest level since
before the global financial crisis, spurring gold exports from the US
to Germany.â€
Tech Sector Sees Lower Gold Demand
Although not a significant factor for the physical gold market,
analysts said that the tech sector saw gold demand drop by 3% in the
second quarter to 81.1 tonnes.
“This was the third consecutive quarter of falling demand, due to a
range of challenges in the electronics sector, including the ongoing
trade dispute between China and the US. However, there are signs of
recovery and we expect declines to continue to slow throughout H2
2019,†the WGC said.
Gold Supply Rises Due To Record Production
The council noted that robust gold demand is being met with strong
production; the analysts said that gold supply increased by 6% in the
second quarter to 1,186.7 tonnes. The supply was led by record gold
production between April and June.
The WGC added that gold production increased by 2% to 882.6 tonnes
in the second quarter. “This is a record level of global output for a
second quarter and follows on from a Q1 record of 847.5t.
Global gold production was let by Canada, Russia and the U.S. that
saw their domestic production increase by 9% in the third quarter.
Australia, which has reported record gold production in 2018 saw an
increase of 6% in the second quarter.
The WGC also noted an increase in recycled gold as consumers sold into higher prices late in the quarter.
Posted by AGORACOM
at 11:48 AM on Wednesday, July 31st, 2019
SPONSOR: GGX Gold Corp (TSX-V: GGX) GGX’s Gold Drop Property resides within a multi-million ounce gold producing region in British Columbia. The property holds the C.O.D. Vein and recently discovered Everest Vein. GGX has initiated 2019 drilling at Gold Drop. Click Here for More Info
Expectations are the Fed will cut rates by 25 basis points
Falling interest rates make metals more attractive
Tie in bullish technicals with a clueless Fed and we should see higher gold and silver prices.
Yesterday we wrote that gold and silver would probably be quiet and
flat until after the Fed reported on Wednesday. It now looks like the
metals are trying to get a jump on the Fed and have started to rally
early.
Friday saw gold
trade as low as $1,412 and suddenly the metal is back over $1,440.
There was a late-day rally Monday with some early morning follow-through
today. The key to watch in gold is the $1,450 level, since a close
above would signal $1,500 is not far behind. Silver looks like it wants to join the rally and push through $17.
Expectations are the Fed will cut rates by 25 basis points; that
would be bullish for the metals. Falling interest rates make metals more
attractive. Tie in bullish technicals with a clueless Fed and we should
see higher gold and silver prices.
Posted by AGORACOM-JC
at 8:31 AM on Wednesday, July 31st, 2019
Monarch produced 3,572 ounces of gold in the fourth quarter, up 169% from the third quarter and down 24% from the 4,695 ounces produced last year.
The increase was attributable to a rise in the production rate at the Camflo mill and the Beaufor mine combined with a higher grade of ore.
MONTREAL, July 31, 2019 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report its production and corporate highlights for the fourth quarter ended June 30, 2019. Amounts are in Canadian dollars unless otherwise indicated.
Production highlights
Monarch produced 3,572 ounces of gold in the fourth quarter, up 169%
from the third quarter and down 24% from the 4,695 ounces produced last
year. The increase was attributable to a rise in the production rate at
the Camflo mill and the Beaufor mine combined with a higher grade of
ore.
The Corporation recorded revenues of $7.3 million in the fourth quarter from the sale of 2,666 ounces of gold at an average price of $1,764 per ounce (US $1,333)
plus custom milling revenue, which was down 3.1% from the third quarter
due to an increase in the tonnage milled from the Beaufor mine.
As at June 30, 2019, the Corporation had more than 1,100 ounces of gold in inventory.
“This was a solid quarter in terms of performance, especially given
that we operated with approximately one-third the workforce we had last
year,” said Jean-Marc Lacoste, President and Chief
Executive Officer of Monarch. “This quarter also marks the suspension of
our production activities at the Beaufor mine during the quarter, as of
June 27, 2019, and at the Camflo mill on July 10, 2019.
Given the current gold environment, our team is focusing on identifying
new exploration targets at the Beaufor mine and preparing a drilling
program on the most promising targets, while Camflo is currently
undergoing maintenance work that should take place over a 90-day
period.”
“Despite the fact that we have suspended our production activities,
Monarch is in an excellent position to benefit from the current upward
trend in gold prices. The Corporation has a large portfolio of
high-quality mining assets that include two mills, six advanced gold
projects with total measured and indicated resources of more than
3.1 million ounces of gold (see table at the end of this press release),
a 14.2% interest in Unigold (TSXV: UGD), as well as a strong financial
position. Our goal in the coming quarters will be to develop our
flagship Wasamac project, which has an annual production potential of
142,000 ounces of gold over 11 years (see press release dated December 3, 2018), and to increase the value of our assets through partnerships and other transactions.”
Production statistics
Three months ended June 30, 2019
Three months ended June 30, 2018
Twelve months ended June 30, 2019
Twelve months ended June 30, 2018
Beaufor mine
Ore processed (tonnes)
27,648
30,523
96,212
98,394
Gold recovery (%)
98.24
98.70
98.17
98.76
Ounces produced
3,572
4,695
13,225
15,071
Ounces sold
2,666
4,589
12,534
14,856
Corporate highlights
On May 9, 2019, the Corporation acquired a block of 6.5 million shares of Unigold Inc. (TSXV: UGD) from an investor at an agreed price of $0.115 per share, for a total of $747,500, payable by the issuance of 3.25 million common shares of the Corporation at an agreed price of $0.23 each (see press release).
On June 18, 2019, the Corporation announced the
signature of binding letters of intent for the acquisition of an
aggregate 100% interest in the Fayolle property from Hecla Quebec Inc.,
formerly known as Aurizon Mines Ltd. (NYSE: HL), and Typhoon Exploration
Inc. (TSXV: TYP) (see press release).
On June 19, 2019, the Corporation announced that its
wholly-owned subsidiary Louvem Mines Inc. had sold a 2% net smelter
return (“NSR”) royalty on certain claims of the Chimo Mine property to
Cartier Resources Inc. (TSXV: ECR) in consideration of a cash payment of
$350,000 (see press release).
On July 25, 2019, the Corporation sold its portfolio of
net smelter return (“NSR”) royalties on the Chimo property (owned by
Chalice Gold Mines Ltd) for a cash payment of $350,000.
Monarch held a portfolio of NSR royalties ranging from 0.50% to 2.50% on
the Chimo property, which surrounds the Chimo Mine property.
Monarch Gold Corporation (TSX: MQR) is an emerging gold mining
company focused on pursuing growth through its large portfolio of
high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Croinor Gold (see video), McKenzie Break, Beaufor and Swanson
advanced projects and the Camflo and Beacon mills, as well as other
promising exploration projects. It also offers custom milling services
out of its 1,600 tonne-per-day Camflo mill.
Forward-Looking Statements
The forward-looking statements in this press release involve known
and unknown risks, uncertainties and other factors that may cause
Monarch’s actual results, performance and achievements to be materially
different from the results, performance or achievements expressed or
implied therein. Neither TSX nor its Regulation Services Provider (as
that term is defined in the policies of the TSX accepts responsibility
for the adequacy or accuracy of this press release.
2 Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)
3 Source: NI 43â€101 Technical Report on the Swanson Project,
June 20, 2018, Christine Beausoleil, P.Geo., and Alain Carrier, P.Geo.,
M.Sc., of InnovExplo Inc.
4 Source: NI 43â€101 Technical Report on the McKenzie Break
Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel
Gaudreault, Eng., of Geologica Groupe-Conseil Inc. and Christian
D’Amours, P.Geo., of GeoPointCom Inc.
Tags: #mining, #Resources, CSE, gold, stocks, tsx, tsx-v Posted in Monarques Gold | Comments Off on Monarch Gold $MQR.ca Produces 3,572 Ounces of Gold and Generates $7.3 Million in Revenue in the Fourth Quarter $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX
Posted by AGORACOM-JC
at 10:55 AM on Tuesday, July 30th, 2019
AMK:TSX-V
780 Meter Intercept of 0.683 g/t Gold;
Including a higher grade upper portion of 1.095 g/t over 370.5 meters in new hole at Treaty Creek
Results prompting mobilization of second drill to project
Darren Blaney, President and CEO of American Creek, commented: “This is very encouraging as we have our best hole to date at Treaty. Furthermore, in addition to a major extension of the system to the northeast, we are now seeing some high grade gold, silver and base metals showing up in the core. I congratulate Mr. Konkin on delivering the goods. Well done!”
Cardston, Alberta–(July 30, 2019) – American Creek Resources Ltd. (TSXV: AMK) (“the Corporation”) (“American Creek”) is pleased to announce results from the first three diamond drill holes at the Goldstorm Zone on the Treaty Creek Joint Venture project, located in the Golden Triangle of NW British Columbia. In light of the favourable results obtained during phase one drilling, a second drill has arrived on-site and has begun drilling for the phase two portion of the program.
Tudor Gold Exploration Manager, Ken Konkin explains:
“The Goldstorm system continues to grow rapidly along strike to the
northeast and towards the footwall contact zone to the southeast. The
best near-surface intercept obtained to-date on the project has been
obtained from the latest hole; GS19-42. This is a vertical hole that is a
150m step-out to the northeast from drill hole CB18-39 (0.981g/t Au
over 563.8m intercept). The higher grade upper portion of last year’s
hole CB18-39 averaged 1.141 g/t Au over 280.5m compared to the same
upper mineralized horizon of GS19-42 that averages 1.268 g/t Au over a
252.0 m intercept. The system appears to be gaining strength to the
northeast as the depth is now showing to exceed 700m, with an average of
0.683 g/t Au over 780 meters of vertical intercept. The mineralized
horizon appear to be near flat-lying with excellent grade consistency
between holes along the upper horizon. Exploration efforts will attempt
to extend the zone further to the northeast with yet another 150m NE
step-out hole from GS19-42.”
Drill holes GS19-40 and GS19-41, were successful in locating the
footwall contact zone, which is a very fine-grained strongly silicified
volcanic unit. Furthermore, porphyritic intrusive was also encountered
at the base of GS19-40, and within GS19-41 that returned anomalous
copper and molybdenum values. As well, a strong silver-bearing
base-metal system has been seen for the first time in the northernmost
hole (GS19-42), within the upper mineralized horizon. Values of 33.51
g/t Au, 1,154 g/t Ag, 2.89% Cu, 5.96% Pb and 1.89% Zn were returned over
a 1.5 meter interval from 209.5 m to 211.0 m was a pleasant surprise in
the last hole GS19-42.
The following table provides gold composites from the Goldstorm Zone in the first three 2019 drill holes completed:
Table I: Gold Composites for GS19-42, 41 and 40
SECTION
HOLE ID
FROM M
TO M
Interval (M)
GOLD (gpt)
112+50NE
GS19-42
63.5
843.5
780
0.683
including
63.5
315.5
252
1.268
including
63.5
434
370.5
1.095
108+00NE
GS19-41
27.5
353
325
0.589
including
47
146
99
1.015
GS19-40
23
350
327
0.443
including
81.5
127
45.5
0.907
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined.
Goldstorm Zone Drill Sections 108+00 NE and
112+50 NE and Goldstorm Zone Plan Map are included at the bottom of the
news release.
Walter Storm, President and CEO of Tudor Gold, stated:
“I am delighted to see that the Goldstorm Zone has been expanded for
another 150 meters with this step out drill-hole 42. I am looking
forward to potentially expanding the Goldstorm zone again with another
150 meter step out drill-hole, which has started with our second drill.”
Darren Blaney, President and CEO of American Creek, commented:
“This is very encouraging as we have our best hole to date at Treaty.
Furthermore, in addition to a major extension of the system to the
northeast, we are now seeing some high grade gold, silver and base
metals showing up in the core. I congratulate Mr. Konkin on delivering
the goods. Well done!”
QA/QC
Drill core samples were prepared at MSA
Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’
Geochemical Laboratory in Langley, BC. Analytical accuracy and precision
are monitored by the submission of blanks, certified standards and
duplicate samples inserted at regular intervals into the sample stream
by Tudor Gold personnel. MSA Laboratories quality system complies with
the requirements for the International Standards ISO 17025 and ISO 9001.
Qualified Person
The Qualified Person for this news release
for the purposes of National Instrument 43-101 is Tudor Gold’s
Exploration Manager, Ken Konkin, P.Geo. He has read and approved the
scientific and technical information that forms the basis for the
disclosure contained in this news release.
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.
The Treaty Creek Project is a Joint Venture
with Tudor Gold owning 60% and acting as operator. American Creek and
Teuton Resources each have 20% interests 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”.
Tudor is presently conducting a major drill
program at Treaty Creek with the objective being to define a
significant gold resource.
The Corporation also holds the Gold Hill,
Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King
properties located in other prospective areas of the province.
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.
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.
Tags: #mining, gold, Seabridge Gold, stocks, tsx, tsx-v Posted in American Creek Resources Ltd., Featured | Comments Off on American Creek $AMK.ca Reports 780m Intercept of 0.683 g/t #Gold Including a Higher Grade Upper Portion of 1.095 g/t over 370.5m in New Hole at Treaty Creek Prompting Mobilization of Second Drill to Project $SII.ca $SA $SKE.ca $TUD.ca $PVG.ca $MRO.ca $NGT.ca $SPMT.ca $GTT.ca$III.ca $GGI.ca
Posted by AGORACOM
at 8:49 PM on Monday, July 29th, 2019
Eric Sprott enters strategic Investment with AMK for 20 Million Shares
Mr. Sprott has agreed to sign a voting agreement in which he will vote with management in the event of a hostile takeover bid
Will also vote with management if management agrees to accept a takeover bid.
Cardston, Alberta–(Newsfile Corp. – July 29, 2019) – American Creek Resources Ltd.
(TSXV: AMK) (“the Corporation”) (“American Creek”) today announced that
it intends to complete a non-brokered private placement with Eric
Sprott’s private company, 2176423 Ontario Ltd. consisting of the
issuance of 20,000,000 units (“Units”) at a price of $0.05 per Unit for
proceeds of $1,000,000.
Each Unit will consist of one common share
of the Corporation (“Common Share”) and one non-transferrable Common
Share purchase warrant (“Warrant”). Each Warrant may be exercised for
one additional Common Share at a price of $0.065 for a period of 24
months from the closing date of the Offering. The Warrants will be
subject to an acceleration provision which provides that in the event
that the market closing price of the Corporation’s shares exceeds $0.12
for 30 consecutive days, the Corporation may within 5 days after such an
event, provide notice to the Warrant holder of early expiry and
thereafter, the Warrants will expire on the date which is 15 days after
the date of the notice to the Warrant holder.
As part of this
financing and the issuing of the Units, Mr. Sprott has agreed to sign a
voting agreement in which he will vote with management in the event of a
hostile takeover bid, and to also vote with management if management
agrees to accept a takeover bid.
Darren Blaney, President &
CEO of American Creek, stated: “We welcome Mr. Sprott’s involvement and
significant contribution. This is an endorsement of not only the
potential of the Treaty Creek project but also of our other projects
we’ve been able to successfully acquire. With Mr. Sprott’s support and
with market conditions improving, we very much look forward to working
together to advance these projects and create additional value for our
shareholders.”
The securities are offered to qualified
purchasers in reliance upon exemptions from prospectus and registration
requirements of applicable securities legislation. No finder’s fees will
be paid related to this financing.
Proceeds will be used for
general operating purposes including settling current debt and advancing
the Corporation’s portfolio of mineral properties.
This private placement is subject to approval by the TSX Venture Exchange.
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.
The
Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and
acting as operator. American Creek and Teuton Resources each have 20%
interests 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”.
Tudor is presently conducting a major drill
program at Treaty Creek with the objective being to define a significant
gold resource.
The Corporation also holds the Gold Hill,
Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King
properties located in other prospective areas of the province.
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
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.
