Posted by AGORACOM
at 7:26 AM on Thursday, May 16th, 2019
In-fill drilling in the west half of JMZ within conceptual pit-constrained area.
Shallow and deeper in-fill drilling in central-east region of JMZ.
Drilling along projected strike east of JNZ in an area of high-grade quartz boulders (boulder samples of 163, 208 and 332 g/t gold – News Release of August 31, 2017).
Golden Promise Project, Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / May 16, 2019 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”)
is pleased to announce it has received a diamond drilling permit for
the Company’s Golden Promise Gold Property, located in the central
Newfoundland gold belt. The Company has also begun its 2019 exploration
program on the Golden Promise Property, currently conducting focussed
prospecting and geochemical sampling at high priority targets within the
property. The drilling permit allows for up to 24 drill holes 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).
Planned drilling will consist of the following:
In-fill drilling in the west half of JMZ within conceptual pit-constrained area.
Shallow and deeper in-fill drilling in central-east region of JMZ.
Drilling
along projected strike east of JNZ in an area of high-grade quartz
boulders (boulder samples of 163, 208 and 332 g/t gold – News Release of
August 31, 2017).
The
Company reported a National Instrument 43-101mineral resource estimate
for the JMZ in late 2018 (News Release of December 6, 2018; and
Sedar-filed National Instrument 43-101 Technical Report on the Golden
Promise Property, Central Newfoundland (revised), dated December 4, 2018
by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim,
B.Sc., P.Geo.). The reported inferred mineral resource estimate for the
JMZ is as follows:
Resource
Cutoff Au g/t
Au Cap g/t
Au Uncap g/t
Tonnes
Au Ounces Capped
Au Ounces Uncapped
Total
1.1
9.3
10.4
357,500
106,400
119,900
Pit-Constrained
0.6
11.4
14.1
157,300
57,800
71,200
Underground
1.5
7.5
7.6
200,200
48,600
48,700
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves. Mineral
resource tonnage and contained metal have been rounded to reflect the
accuracy of the estimate, and numbers may not add due to rounding. Mineral resource tonnage and grades are reported as undiluted. Contained Au ounces are in-situ and do not include recovery losses
The
majority of planned diamond drill holes at the Golden Promise Property
will be in-fill drill holes at the JMZ to provide data for an up-dated
JMZ mineral resource estimate, engineering studies and studies of
mineralizing controls. Drilling is also planned testing continuation of
the JNZ east along projected strike. The Company conducted trenching
during 2017 along the projected east strike of the JNZ. The trenching
generally failed to reach bedrock due to thick glacial till. However
gold bearing quartz vein boulders were excavated from multiple trenches,
with some boulder samples returning high grade gold (including 163.99,
208.51 and 332.67 g/t gold: News Release of August 31, 2017). A
qualified person managed the 2017 trenching program and sampling and
verified the analytical data.
Great Atlantic has begun it’s 2019
exploration program on the Golden Promise Property. Prospecting and
geochemical sampling is being conducted at high priority targets in
multiple regions within the property. During the 2017 and 2018 programs,
the Company identified / confirmed areas with gold bearing quartz vein
float or bedrock; and gold soil anomalies. The objective of the current
program is to further define trenching and drilling targets within these
target areas.
The Golden Promise Property hosts multiple gold
bearing quartz veins and is located within a region of recent
significant gold discoveries. The property is located within the
Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits
Subzone, the property lies along the north-northwestern fringe of the
Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The
northwestern margin of the Golden Promise Property occurs proximal to,
and, in part, contiguous with a major (Appalachian-scale) collisional
boundary, and suture zone, known as the Red Indian Line (RIL). The RIL
forms the western boundary of the Exploits Subzone. Recent significant
gold discoveries in this region of the Exploits Subzone include those of
Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and Marathon Gold Corp. (TSXV.MOZ) at the Valentine Lake Gold Camp.
During 2018 Sokoman Minerals Corp. (TSXV.SIC) announced
a high-grade gold discovery on its Moosehead Property, located
approximately 40 kilometers east-northeast of the Golden Promise
Property. The discovery was made during the 2018 diamond drilling
program. A drill intersection of 44.96 g/t gold over 11.90 meters core
length was reported including a 1.35 meters core length quartz vein
intersection of 385.85 g/t gold (Sokoman Iron Corp. News Release of July
24, 2018). The Valentine Lake Gold Camp of Marathon Gold Corp. (TSXV.MOZ) is
located approximately 55 kilometers southwest of the Golden Promise
Property. As reported on Marathon’s website, the Valentine Lake Gold
Camp currently hosts four near-surface, mainly pit-shell constrained,
deposits with measured and indicated resources totaling 2,691,400 oz. of
gold at 1.85 g/t gold and inferred resources totalling 1,531,600 oz. of
gold at 1.77 g/t. Readers are warned that mineralization at the
Moosehead Property and Valentine Lake Gold Camp is not necessarily
indicative of mineralization on the Golden Promise Property.
High-grade
gold is reported in quartz veins and quartz vein boulders within the
Golden Promise Property. Gold bearing quartz veins are reported in
multiple areas of the property, including at least 5 gold bearing quartz
vein systems reported in the Jaclyn Zone. Much of the reported
historical exploration within the property has been focused on the
Jaclyn Zone with gold bearing vein systems reported at the JMZ, JNZ,
Jaclyn South Zone, Jaclyn East Zone and Jaclyn West Zone. The majority
of historic drilling (2002-2010) was conducted at the JMZ. Gold bearing
veins and gold bearing float are reported in other regions of the
property. These include the Linda/Snow White vein in the southern
region, Shawn’s Shot vein in the central region and Branden boulder
occurrence in the northern region of the property.
As reported in
the National Instrument 43-101 Technical Report on the Golden Promise
Property, Central Newfoundland (revised), dated December 4, 2018 by Mr.
Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc.,
P.Geo., the JMZ was modelled as a single quartz vein that strikes
east-west and dips steeply to the south. Modelled vein thickness was
based on true thickness derived from quartz vein intercepts. The
estimate is based on 220 assays that were composited to 135 one-meter
long composites. A bulk density of 2.7 g/cm3 was used. Blocks in the
model measured 15 meters east-west, 1-meter north-south and 10 meters
vertically. The block model was not rotated. Grades were interpolated
using inverse-distance squared (ID2) weighting and a search ellipse that
measured 100 meters along strike, two meters across strike and 50
meters vertically. Grades were interpolated based on a minimum of two
and a maximum of 10 composites with a maximum of one composite per hole
so the grade of each block is based on at least two drillholes thereby
demonstrating continuity of mineralization. For the capped mineral
resource estimate, all assays that exceed 65 g/t gold were capped at 65
g/t gold. All resources were classified as Inferred because of the
relatively wide spacing of drill holes through most of the zone.
Because
part of the vein is near surface the resource estimate was constrained
by a conceptual open pit to demonstrate reasonable prospects of eventual
economic extraction. Generic mining costs of US$2.50/tonne and
processing costs of US$25.00/tonne were used together with a gold price
of US$1,300/ounce. A conceptual pit slope of 45° was assumed with no
allowance for mining loss or dilution. Based on the combined
hypothetical mining and processing costs and the assumed price of gold, a
pit-constrained cutoff grade of 0.6 g/t was adopted. For the
underground portion of the resource a cutoff of 1.5 g/t was assumed. The
cutoff grade for the total resource is the weighted average of the
pit-constrained and underground cutoff grades.
Jaclyn Main Zone Total Inferred Mineral Resource Estimate
Resource
Cutoff Au g/t
Au Cap g/t
Au Uncap g/t
Tonnes
Au Ounces Capped
Au Ounces Uncapped
Total
1.1
9.3
10.4
357,500
106,400
119,900
Pit-Constrained
0.6
11.4
14.1
157,300
57,800
71,200
Underground
1.5
7.5
7.6
200,200
48,600
48,700
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves. Mineral
resource tonnage and contained metal have been rounded to reflect the
accuracy of the estimate, and numbers may not add due to rounding. Mineral resource tonnage and grades are reported as undiluted. Contained Au ounces are in-situ and do not include recovery losses
David
Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP
Exploration for Great Atlantic, is responsible for the technical
information contained in this News Release.
About Great Atlantic Resources Corp.: Great
Atlantic Resources Corp. is 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.
On Behalf of the board of directors
“Christopher R Anderson”
Mr. Christopher R. Anderson ‘Always be positive, strive for solutions, and never give up’ President CEO Director 604-488-3900 – Dir
Posted by AGORACOM
at 4:47 PM on Wednesday, May 15th, 2019
Fortis Metals,
the world’s leading producer of minor metals, recently forecast a
tellurium supply deficit that, “as of 2020 could be as big as a
staggering 370 metric tonnes.â€
Noting the rapidly-growing use of tellurium for thin-film solar panels, Fortis stated:
“At the moment, we are still seeing (tellurium) inventories in China but these are being eaten away by the two main suppliers of First Solar (the world’s largest thin-film solar manufacturer). It is only a matter of time before the market will understand the new dynamics and prices will start to reflect the growing deficit. We would not be surprised to see prices break the previous record seen in 2011.â€
GGX
has produced some of the highest grade drill intercepts in the world
over the 2018 drill season, which compliment High Grade Gold intercepts
of:
COD18-67: 129 g/t gold, 1,154 g/t silver and 823 g/t tellurium over 7.28-metre core length;
COD18-70: 107 g/t gold, 880 g/t silver and 640 g/t tellurium over 6.90-metre core length.
FULL DISCLOSURE: GGX Gold is an advertising client of AGORA Internet Relations Corp
Tags: #Discovery, #Drilling, #GGXgold, #Grade, #Mine, #silver, #tellerium, gold Posted in GGX Gold Corp. | Comments Off on Client Feature: $GGX.ca GGX Gold Discovers Tellerium at GoldDrop along with 2018’s Highest Grade Drill Intercepts in the World over the 2018 Drill Season $APH.ca $TUE.ca $GOM.ca $TYE.ca $NNZ.ca $GTT.ca $AOT.ca $MTB.ca
Posted by AGORACOM
at 11:37 AM on Wednesday, May 15th, 2019
American Creek has operated in the Golden Triangle region for 15 years and has three noteworthy projects.
Ken Konkin (former head geologist for Pretivm and instrumental in the discovery and development of the Brucejack / VOK mine) now heading our JV partner Tudor Gold’s geological team to develop Treaty Creek.
The geology, geophysics and structure are showing potential for similar scale to the rest of the Sulphurets Hydrothermal System, and the drilling to date is confirming
The string of porphyry related deposits running through the Sulphurets Hydrothermal system have stronger gold equivalent grades the further north you go. The Goldstorm deposit on Treaty Creek property is richer in gold and total gold equivalent than the KSM deposits further to the south
Treaty Creek is “on the right side of the hill” where there is direct access to highway 37 and the high-power transmission line making logistics markedly better than for deposits further south.
The Treaty Creek JV property has a fully carried interest to production
Posted by AGORACOM
at 11:10 AM on Tuesday, May 14th, 2019
VANCOUVER, British Columbia, May 14, 2019 (GLOBE
NEWSWIRE) — Labrador Gold Corp. (TSX-V: LAB) (“Labrador Gold†or the
“Companyâ€) is pleased to announce the appointment of Mr. Kai Hoffmann to
the board of Directors.
Mr. Hoffmann holds
a Bachelor of Business Administration from the University of
Bedfordshire in the UK and is a businessman with years of experience in
the capital markets and commodities industry. He is the CEO of Soar
Financial Group, consisting of a boutique merchant bank and corporate
communications company, a publishing house and Oreninc, a website that
tracks financings for Canadian listed exploration and mining companies.
He is a regular keynote speaker at leading industry conferences and
events.
“On behalf of the existing Directors, I
welcome Kai to the Labrador Gold Board, and we look forward to working
with him.†said Roger Moss, President and CEO. “His experience in
marketing and capital markets will benefit the company as we anticipate
another exciting year in Labrador.â€
“I am
excited to be joining Roger, Shawn and the Labrador Gold team. The
coming months mark a pivotal time in the company’s development, and I am
looking forward to not only support the team but also to help achieve
the corporate goals.†comments Kai Hoffmann.
The
Company also announces the grant of 500,000 options to purchase common
shares of the Company to Mr. Hoffmann and an additional 1,100,000
options to the existing directors, officers and a consultant. The
options are exercisable at a price of $0.20 for a period of five years.
Roger Moss, PhD., P.Geo., is the qualified person responsible for all technical information in this release.
About Labrador Gold:
Labrador
Gold is a Canadian based mineral exploration company focused on the
acquisition and exploration of prospective gold projects in the
Americas. In 2017 Labrador Gold signed a Letter of Intent under which
the Company has the option to acquire 100% of the 896 square kilometre
(km2) Ashuanipi property in northwest Labrador and the Hopedale (458 km2) property in eastern Labrador.
The
Hopedale property covers much of the Hunt River and Florence Lake
greenstone belts that stretch over 80 km. The belts are typical of
greenstone belts around the world but have been underexplored by
comparison. Initial work by Labrador Gold during 2017 show gold
anomalies in soils and lake sediments over a 3 kilometre section of the
northern portion of the Florence Lake greenstone belt in the vicinity of
the known Thurber Dog gold showing where grab samples assayed up to
7.8g/t gold. In addition, anomalous gold in soil and lake sediment
samples occur over approximately 40 kilometres along the southern
section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.
The
Ashuanipi gold project is located just 35 km from the historical iron
ore mining community of Schefferville, which is linked by rail to the
port of Sept Iles, Quebec in the south. The claim blocks cover large
lake sediment gold anomalies that, with the exception of local
prospecting, have not seen a systematic modern day exploration program.
Results of the 2017 reconnaissance exploration program following up the
lake sediment anomalies show gold anomalies in soils and lake sediments
over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and
over a 14 kilometre long by 2 to 4 kilometre wide east-west trend. The
anomalies appear to be broadly associated with magnetic highs and do not
show any correlation with specific rock types on a regional scale (see
news release dated January 18th 2018). This suggests a
possible structural control on the localization of the gold anomalies.
Historical work 30 km north on the Quebec side led to gold intersections
of up to 2.23 grams per tonne (g/t) Au over 19.55 metres (not true
width) (Source: IOS Services Geoscientifiques, 2012, Exploration and
geological reconnaissance work in the Goodwood River Area, Sheffor
Project, Summer Field Season 2011). Gold in both areas appears to be
associated with similar rock types.
The Company has 56,514,022 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
Posted by AGORACOM
at 10:18 AM on Friday, May 10th, 2019
Fortis Metals,
the world’s leading producer of minor metals, recently forecast a
tellurium supply deficit that, “as of 2020 could be as big as a
staggering 370 metric tonnes.â€
Noting the rapidly-growing use of tellurium for thin-film solar panels, Fortis stated:
           “At the moment, we are still seeing (tellurium) inventories in China but these are  being eaten away by the two main suppliers of First Solar (the world’s largest thin-film solar manufacturer). It is only a matter of time before the market will understand the new dynamics and prices will start to reflect the growing deficit. We would not be surprised to see prices break the previous record seen in 2011.â€
GGX
has produced some of the highest grade drill intercepts in the world
over the 2018 drill season, which compliment High Grade Gold intercepts
of:
COD18-67: 129 g/t gold, 1,154 g/t silver and 823 g/t tellurium over 7.28-metre core length;
COD18-70: 107 g/t gold, 880 g/t silver and 640 g/t tellurium over 6.90-metre core length.
FULL DISCLOSURE: GGX Gold is an advertising client of AGORA Internet Relations Corp
Tags: #BC, #Drill, #GGXgold, #GoldDrop, #MTB, #tellerium, #TUE, gold Posted in GGX Gold Corp. | Comments Off on Client Feature: $GGX.ca GGX Discovers Tellerium at GoldDrop along with 2018’s Highest Grade Drill Intercepts in the World over the 2018 Drill Season $APH.ca $TUE.ca $GOM.ca $TYE.ca $NNZ.ca $GTT.ca $AOT.ca $MTB.ca
Posted by AGORACOM
at 10:47 AM on Thursday, May 2nd, 2019
Drilling occurred in northwest region of the property, 1.5 km NW of the historic Keymet Mine.
Ky-18-14: 7.89% zinc equivalent over 34.3 meters (From 46.20 m to 80.50 m)
Elmtree 12 vein: System traced to approximately 145 meters depth, open at depth
Elmtree 12 vein: Strike length of approximately 110 meters and open along strike
The Company’s focus since acquiring the Keymet Property is the area of
reported polymetallic veins with most work in the area of the Elmtree 12
copper-lead-zinc-silver bearing vein system.
At
least seven vein occurrences with lead, zinc and +/- copper, silver and
gold are reported in this region of the property in addition to the
polymetallic veins reported at the historic Keymet Mine
Posted by AGORACOM-JC
at 9:20 AM on Wednesday, May 1st, 2019
Custom milling operations at the Camflo mill contribute strongly to revenues
Production at the Beaufor mine declines due to a lower production rate
The Wasamac gold project continues to draw considerable interest from potential partner
The Corporation completed a positive feasibility study on its Wasamac deposit during the second quarter (see feasibility study), with the following results:
Forecast average production: 142,000 ounces of gold over 11 years
Pre-tax NPV: $522 million
Pre-tax IRR: 23.6%
Cash cost: US $550 per ounce
MONTREAL, May 1, 2019 /CNW/ – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report its production and corporate highlights for the third quarter ended March 31, 2019. Amounts are in Canadian dollars unless otherwise indicated.
Production highlights
Monarch produced 1,328 ounces of gold in the third quarter, down 70%
from the second quarter and 73% from 4,932 ounces produced last year.
The decrease was attributable to a cut in the production rate and number
of employees at the Beaufor mine in January 2019.
The Corporation recorded revenues of $5.2 million in the third quarter from the sale of 1,427 ounces of gold at an average price of $1,737 per ounce (US $1,307)
plus custom milling revenue, which was down 6.2% from the second
quarter due to a planned shutdown at the Camflo mill for maintenance
work, but up 35.5% year over year.
“Our custom milling operations at the Camflo mill continue to perform
well despite the lower tonnage from the Beaufor mine,” said Jean-Marc Lacoste,
President and Chief Executive Officer of Monarch. “The Beaufor mine is
currently operating at a reduced average rate of 7,000 tonnes per month
with about 50 employees, and we are reassessing the mine’s operations on
a monthly basis.”
“Our promising projects are unquestionably the Wasamac, Croinor Gold
and McKenzie Break advanced gold projects. The Wasamac project continues
to draw considerable interest from the mining and financial community,
as evidenced by the increased virtual room traffic. We have also had
preliminary discussions with a number of parties and will continue to
work with them in the coming weeks. Meanwhile, Croinor Gold and McKenzie
Break generated excellent drill results in 2018, which increased the
gold potential of these projects.”
Production statistics
Three months ended March 31, 2019
Three months ended March 31, 2018
Nine months ended March 31, 2019
Nine months ended March 31, 2018
Beaufor mine
Ore processed (tonnes)
13,110
32,866
68,564
67,871
Gold recovery (%)
97.78
98.91
98.15
98.78
Ounces produced
1,328
4,932
9,653
10,376
Ounces sold
1,427
4,823
9,868
10,267
Corporate highlights
On February 4, 2019, the Corporation reported the last
assay results from the 2018 diamond drill program at its wholly owned
Croinor Gold project, which notably returned 17.26 g/t Au over 1.95
metres, including 50.10 g/t Au over 0.6 metres (see press release).
On February 28, 2019, the Corporation reported the
first assay results from the 2018 diamond drilling program at its wholly
owned McKenzie Break gold project, which notably returned 61.20 g/t Au
over 2.6 metres, including 265.00 g/t Au over 0.6 metres (see press release).
On March 13, 2019, the Corporation reported the second
set of assay results from the 2018 diamond drilling program at its
wholly owned McKenzie Break gold project, which notably returned 24.40
g/t Au over 2.0 metres, including 93.80 g/t Au over 0.5 metres (see press release).
On March 20, 2019, the Corporation reported the third
and last set of assay results from the 2018 diamond drilling program at
its wholly owned McKenzie Break gold project, which notably returned
12.60 g/t Au over 1.35 metres, including 55.90 g/t Au over 0.3 metres
(see press release).
On March 29, 2019, the Corporation reported that it had
sold its Pandora royalty to Agnico Eagle Mines Limited, thus reducing
its payments for the McKenzie Break and Swanson properties by $800,000 (see press release).
On April 26, 2019, the Corporation announced the closing of a $2,000,000 private placement (see press release).
The Corporation has also received the assay results for the 1,750-metre drilling program carried out in February 2019
on the Croinor Gold property. The program included seven exploration
holes drilled more than one kilometre away from the Croinor Gold
deposit. While the holes did not return any significant intersections,
they did yield important geological data. The Corporation still believes
that Croinor Gold holds excellent exploration potential along strike
and at depth, as these holes targeted only a small portion of the 151
km2 property. In fact, the Corporation plans to continue additional
exploration work on Croinor Gold to locate additional drilling targets.
On the MacKenzie Break property, the Corporation is currently planning
its next drilling program on high potential targets.
Finally, the recommissioning of the Beacon plant has been delayed,
mainly because the Corporation has not yet received the operating
permits or obtained the financing needed to put the Croinor Gold deposit
back into production.
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 Beaufor Mine, the Croinor Gold (see video), McKenzie Break 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.
Tags: gold, tsx, tsx-v Posted in All Recent Posts, Monarques Gold | Comments Off on Monarch Gold $MQR.ca Produces 1,328 Ounces of Gold and Generates $5.2 Million in Revenue in its Third Quarter $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX
