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Monarques Gold $MQR.ca Reports its Second Quarter Results With Revenue of $10.3 million $MUX.ca $SII.ca

Posted by AGORACOM-JC at 7:34 AM on Thursday, March 1st, 2018

  • Revenue of $10.3 million and EBITDA of $0.5 million in the second quarter.
  • Net income of $0.7 million or $0.003 per share, diluted, compared to a net loss of $0.5 million or $0.004 per share, diluted, a year ago.
  • Strong financial position, with cash of $18.2 million.

Production cash cost of $1,338 (US $1,052) per ounce at the Beaufor Mine is 31% lower than in the prior quarter under the previous owner

MONTREAL, March 1, 2018 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report its results for the second quarter ended December 31, 2017. All amounts are in Canadian dollars unless otherwise indicated.

Highlights

Beaufor Mine

  • Production and sale of 5,444 ounces of gold in the second quarter, a 62% increase over the 3,380 ounces produced in the prior quarter by the previous owner and a 16% increase over the quarterly average of 4,715 ounces produced during the prior nine-month period.
  • Average selling price of $1,583 (US $1,245) per ounce sold.
  • Production cash cost of $1,338 (US $1,052) per ounce sold, down 31% from $1,929 (US $1,540) in the prior quarter under the previous owner.
  • All-in sustaining cost for Beaufor/Camflo of $1,525 (US $1,199) per ounce sold, down 39% from $2,491 (US $1,989) in the prior quarter under the previous owner.

Financial results

  • Revenue of $10.3 million and EBITDA of $0.5 million in the second quarter.
  • Net income of $0.7 million or $0.003 per share, diluted, compared to a net loss of $0.5 million or $0.004 per share, diluted, a year ago.
  • Strong financial position, with cash of $18.2 million.

“Monarques was truly successful in its first quarter as a gold producer,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “I am proud of the results achieved by the entire Monarques team, which allowed us to surpass our production cost targets. We also managed to generate a positive EBITDA for the quarter.”

“In addition, 2018 will be a very active year for Monarques on the exploration side. We have allocated significant amounts to increasing the reserve at the Beaufor Mine and extending the mine’s life, as well as increasing the resource at the Croinor Gold deposit, which continues to develop in line with our expectations. The results of the latest drilling programs on Beaufor and Croinor Gold show that those deposits have excellent exploration potential. We have also undertaken 43‑101 resource estimates for the McKenzie Break and Swanson properties and are currently planning our development strategy for the Wasamac gold deposit,” Mr. Lacoste concluded.

Financial results summary

Corporate highlights

  • On October 2, 2017, Monarques completed the acquisition of the Quebec assets of Richmont Mines in conjunction with the closing of a $6.5 million financing and a US $4.0 million credit facility (see press release).
  • On October 26, 2017, the Corporation announced the results of an updated NI 43-101 mineral resource estimate for its wholly owned Wasamac gold project establishing a measured and indicated resource of 2,587,900 ounces of gold and an inferred resource of 293,900 ounces (see press release).
  • On December 14, 2017, Monarques announced strong results from its drilling program on the Croinor Gold deposit, including 7.84 g/t Au over 9.0 metres (29.5 feet) (see press release). The Corporation noted that the new results continued to demonstrate the predictability of the geological model used, and that the Croinor Gold deposit remains open laterally and at depth.
  • On December 21, 2017, Monarques announced the acquisition of the McKenzie Break and Swanson gold properties from Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (see press release). The transaction enabled the Corporation to consolidate its portfolio of properties in the Abitibi region with the addition of two high quality gold projects that, with the Wasamac and Croinor Gold properties, bring Monarques’ total number of advanced projects to four.
  • On January 11, 2018, the Corporation reported excellent results from its drilling program at the Beaufor Mine, including 61.48 g/t Au over 3.9 metres (see press release), confirming the strong exploration potential in the area to the east of Zone Q.
  • On February 8, 2018, Monarques announced a positive updated prefeasibility study for the Croinor Gold deposit (see press release).

Next steps

  • Monarques’ goal for the coming quarters is to increase the profitability of the Beaufor mine, mainly by cutting production costs and increasing the grade through more selective mining. Production costs will be reduced through higher productivity at the Camflo Mill, among other things, with the increase in custom milling activities.
  • Monarques has announced drilling programs of 30,000 metres at the Beaufor Mine and 20,000 metres at the Croinor Gold deposit. The Corporation has also started 43-101 resource estimates for its McKenzie Break and Swanson gold projects.
  • The Corporation will also assess the possibility of restarting the Beacon Mill in the second half of the year to accommodate an anticipated increase in demand for custom milling services.
  • Finally, the Corporation is exploring a number of options for the development of the Wasamac gold deposit, including custom milling and the use of a railway system (located less than 500 metres from the Wasamac site).

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation’s qualified person under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corp (TSX.V:MQR) is an emerging gold producer 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 Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Non-IFRS measures

The Corporation has provided measures prepared in accordance with IFRS as well as certain non-IFRS measures of financial performance in this press release. Non-IFRS measures of performance do not have a standard meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Corporation provides these non-IFRS measures of financial performance because investors sometimes use them to measure financial performance. As a result, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS measures of financial performance have been reconciled against the IFRS measures presented in the management discussion and analysis (refer to the section “Selected Quarterly Financial Information” for the description and reconciliation of these non-IFRS measures).

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Monarques Gold Corporation

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Monarques Gold $MQR.ca to Drill 50,000 Metres on the Beaufor and Croinor Gold Properties in 2018 $MUX.ca $SII.ca

Posted by AGORACOM-JC at 9:30 AM on Thursday, February 22nd, 2018

  • Investment aimed at increasing the gold resource and assessing new high-potential targets
  • 30,000-metre program at Beaufor
  • 20,000-metre program on Croinor Gold

 

MONTREAL, Feb. 22, 2018 /PRNewswire/ – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce that it will carry out a total of 50,000 metres of drilling in 2018 at the Beaufor Mine and the Croinor Gold property.

30,000-metre program at Beaufor

The program at the Beaufor Mine will consist of 14,000 metres of definition drilling and 16,000 metres of exploration drilling. The program is designed to follow up on the strong, high-grade results of the last drilling program, which returned intersections of 61.48 g/t Au over 3.9 metres, 39.05 g/t Au over 1.8 metres and 15.44 g/t Au over 3.0 metres from the Zone Q sector, as well as 12.33 g/t Au over 1.6 metres and 14.25 g/t Au over 0.5 metres from the Zone 1700 sector (see press release dated January 11, 2018).

The goal of the new program is to continue to test the mineralization in the deposit extensions and at depth in order to increase the Beaufor Mine mineral resource. The main drill targets for the program are in the following sectors: Zone Q, Zone 1700, Zone 173, the western shear and the Beaufor fault at depth. Expectations for these targets are high based on the latest in-house interpretations and compilations.

“We strongly believe that this major investment in Beaufor could allow us to extend the life of the mine and possibly improve its economic profile,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “It is also perfectly aligned with our strategy of supporting the growth and profitability of our Abitibi mining operations.”

20,000-metre program on Croinor Gold

The latest drilling program on Croinor Gold enabled Monarques to increase the size of the deposit, which remains open along strike and at depth. The program returned numerous intersections with high-grade gold over good widths, such as 13.10 g/t Au over 4.0 metres, including 33.70 g/t Au over 1.0 metre, at a vertical depth of 58 metres in Hole CR-17-574, and 7.84 g/t Au over 9.0 metres, including 37.80 g/t Au over 1.0 metre and 12.70 g/t Au over 0.8 metres, at a vertical depth of 197 metres in Hole CR-17-577 (see press release dated December 14, 2017).

The purpose of the new 20,000-metre program, which will start in March 2018, will be:

  • To continue testing the mineralization at depth and to drill at the east and west ends of the deposit;
  • To drill within the Croinor Gold deposit in areas with insufficient data, in order to increase the indicated resource of the zones of the block model; and
  • To drill high potential targets in the vicinity of the deposit.

“Our understanding of the Croinor Gold deposit improved substantially last year,” Mr. Lacoste said. “It is important to note that the results obtained during the last drilling program continued to demonstrate the predictability of our geological model, which should make this next phase of work easier.”

“We are committed to creating value for Monarques,” he concluded. “We believe that these investments, combined with the resource calculations for the McKenzie Break and Swanson properties, will advance our mining projects significantly. All in all, 2018 is going to be a very busy year for Monarques.”

Quality control and qualified person
Sampling normally consists of sawing the core into two equal halves along its main axis and shipping one of the halves to the ALS Minerals laboratory in Val-d’Or for assaying. The samples are crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 10.0 g/t are re-assayed using the gravity method. Certified standards and blanks are inserted into the sampling stream for quality control purposes.

The technical and scientific content of this press release has been reviewed and approved by Ronald G. Leber, P.Geo., and Petr Pelz, P.Geo., the Corporation’s qualified persons under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer 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 Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. 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 press release.

SOURCE Monarques Gold Corporation

 

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Sovereign Wealth Funds Investing In #Gold For “Long Term Returns” – PwC $AMK.ca $EXS.ca $MQR.ca

Posted by AGORACOM-JC at 10:50 AM on Tuesday, February 13th, 2018
  • Gold has outperformed equities and bonds over the long term – PwC Research
  • Gold is up 6.7% and 6.8% per annum over 10 and 20 year periods; Stocks and bonds returned less than 5.2% respectively over same period (see PwC table)
  • From 1971 to 2016 (45 years), “gold real returns were approximately 10% while inflation increased 4%”
  • Gold also valuable due to lack of correlation and hedge against inflation, currency devaluation and uncertainty

Source: PwC  Research via Bloomberg and WGC data

In new research, entitled ‘The rising attractiveness of alternative asset classes for Sovereign Wealth Funds‘ PwC explain how gold is viewed as an important diversifier by sovereign wealth funds, as both an important hedge and for long term returns.

PwC now class gold as a ‘re-emerging asset class’ on the basis of its long-term out performance of stocks and bonds, low correlation with traditional assets, resilience and high liquidity.

Gold along with private equity, real estate and infrastructure now accounts for 23% of a total $7.4 trillion of assets under management by sovereign wealth funds.

The report notes that from a peak of 40% in 2013, sovereign wealth funds’ investment into fixed income instruments such as government bonds declined to 30% by 2016. Due to record low bond yields, the funds decided to turn their attention to alternative assets to enhance returns.

The report notes the impressiveness of both gold’s long-term performance and low correlation to other assets in the long-term, compared to other alternatives.  In the short-term the benefit of gold’s liquidity is noted:

“[It] has one of the highest rates of daily volumes exchanged and can provide protection against short and medium term market corrections.”

The 23% allocation is expected to increase going forward, despite slight increases in rates recently and because of the likelihood of continuing very low interest rates.

This report comes at a time when we are seeing a growing interest by both large institutions and family offices in gold investment.

Like sovereign wealth funds, they are encouraged by gold’s long-term returns, high liquidity and resilience against economic shocks.

Long term outperformance to traditional asset classes

As we have seen in recent years gold, like all assets, has periods when it underperforms. This has been in the short-term in the last 3 to 5 years, but in the long-term – such as a 10, 20 or 40 year period, it is an entirely different story.

Indeed, gold’s recent underperformance, makes its long term outperformance all the more impressive.

The report shows that in the last ten years, gold delivered returns of 6.7% per annum, outperforming equities and bonds which returned just 4.9% and 4.5% respectively. This return was slightly greater over a 20-year period when gold returned 6.8% per annum, compared to equities and bonds which returned just 5.2% and 5.2%.

Over the long term, gold is one of the top three performing assets along with real estate and private equity.

“Gold’s long-term performance is attributed to three factors: increased demand from emerging markets, central banks becoming net buyers, and the emergence of new products, such as gold-based ETFs, which have simplified investing and made the material more accessible.” – PwC

PwC also note the importance of gold when it comes to protecting against currency devaluation:

“By introducing alternatives into the portfolio, the value of investments can be protected against a possible decrease in purchasing power of the currency the investments are denominated in. This can be done through instruments whose returns are somehow linked to inflation or have perceived intrinsic value. Assets with perceived intrinsic value, such as commodities, should increase in price alongside CPI. In cases of extreme inflation for example, gold has historically performed well, outpacing that inflation by 10%…gold performed well during inflationary periods. For example, from 1971 to 2016, gold real returns were approximately 10% while inflation increased 4% year-over-year.”

Gold doesn’t follow: Low correlation with traditional asset classes

“Gold can be a useful addition to investment portfolios compared to other commodities, due to lower correlation with traditional asset classes. Between June 1997 and June 2017, the correlation between gold and equity returns was close to zero (-0.07), thus showing its diversification benefit. The asset class maintains only a negative correlation over a ten-year period as well, standing at -0.05. Gold is more correlated with bond returns, standing at 0.58 on a ten-year basis, and at 0.28 on a twenty-year correlation (see Figure 27)…Gold has, over all considered time periods, no statistically significant correlation with hedge funds, private equity, infrastructure, and real estate.”

As with the other factors discussed by PwC this is pertinent for all considering investing in gold, from retail and pension investors, larger institutions and family offices. Much of gold’s low correlation is due to the fact that it is less affected by economic cycles and geo-political risks than other financial assets. This means it shows resilience at times when others are showing weakness.

This has been seen in recent days when stock markets saw massive volatility and very sharp corrections and gold was essentially flat. Year to date in 2018, gold is nearly 1.7% higher while many stock indices are down sharply – Euro Stoxx 50 is down more than 4%  year to date.

Resilient asset class during crises and instability

The gold price performs well in times of financial crises and extreme market events. During these times the correlation benefits become even more important, so it can provide portfolio insurance since it minimises portfolio losses.  PwC explain that this is what distinguishes gold from other assets:

 

“Gold has delivered negatively correlated returns when equity indices, such as S&P 500, have plummeted. Figure 28, 29, and 30 show gold’s performance during episodes of acute market crisis (GFC and the Sovereign Debt Crisis I and II). In these cases, the gold price started to rise significantly as the S&P 500 index decreased. Generally speaking, the gold price per ounce rose as investors perceived uncertainty in the stock markets, and decreased as these markets gave signs of normalisation.”

After the bloodbath of the last week, S&P500 investors will be interested to hear how gold correlates to the market”

“Among alternatives, when examining the correlation of returns with the S&P 500 index, gold is an excellent diversifier presenting the lowest correlation on a five-, ten-, and twenty- year basis (0.04, -0.05, -0.07 respectively).”

Liquid gold

The asset is particularly liquid in contrast to many of the other assets considered by SWFs, this is something very beneficial according to PwC:

” Stabilization funds may, in particular, benefit from adding gold among their holdings as they are required to hold highly liquid assets to counter the effects of sudden macroeconomic shocks.

Gold has distinguished itself from other alternative asset classes as it has been more liquid, with USD 224 bn traded on average on a daily basis in 2016″.

Conclusion: Investment and pension case for gold is strong

PwC do not beat about the bush when it comes to their positivity towards  gold as an investment. They synopsise and elucidate many of gold’s benefits which we have long been highlighting in recent years:

“All these features suggest that gold as an investment class can offer reliable support, not only during uncertain market and political conditions, such as periods of high inflation, stock market crashes, and geopolitical instability, but also under normal market conditions.”

They clearly see gold as playing a crucial role in the portfolios of sovereign wealth funds and indeed the majority of investors across the spectrum.

“The investment case for gold, during periods of market uncertainty, has proven to be strong, with the price of gold having surged rapidly and having countered the negative effects of adverse market conditions. Hence, investors can consider gold for diversification and long-term performance.”

Pwc Report on gold can be accessed here

Watch the PwC World Gold Council interview about the report here

Related Content

Research: Gold As a Safe Haven Asset

CNBC: Is gold the ultimate safe haven?

News and Commentary

Gold steady on weaker dollar ahead of U.S. price data (Reuters.com)

Asian markets continue upswing as global rebound continues (MarketWatch.com)

Gold recoups half of last week’s loss as dollar softens (MarketWatch.com)

U.S. runs January budget surplus of $49 billion, Treasury says (MarketWatch.com)

VIX manipulation costs investors billions, whistle-blower tells CFTC (Bloomberg.com)


Source: Goldchartsrus via Goldseek

Silver Expected To Rise After Drop Versus Gold – Everbank (GoldSeek.com)

Gold demand in technology sector advances in 2017 for the first time since 2010 (ScrapRegister.com)

Insider trading has been rife on Wall St – The Economist (Economist.com)

The Fed’s Impossible Choice, In Three Charts (DollarCollapse.com)

When Will It End? Bloodied Traders Are Seeking Clues (Bloomberg.com)

Gold Prices (LBMA AM)

13 Feb: USD 1,329.40, GBP 955.04 & EUR 1,077.61 per ounce
12 Feb: USD 1,321.70, GBP 955.19 & EUR 1,077.45 per ounce
09 Feb: USD 1,316.05, GBP 945.58 & EUR 1,072.84 per ounce
08 Feb: USD 1,311.05, GBP 944.87 & EUR 1,071.13 per ounce
07 Feb: USD 1,328.50, GBP 956.12 & EUR 1,075.95 per ounce
06 Feb: USD 1,344.65, GBP 962.50 & EUR 1,083.52 per ounce
05 Feb: USD 1,337.10, GBP 947.20 & EUR 1,072.49 per ounce

Silver Prices (LBMA)

13 Feb: USD 16.61, GBP 11.94 & EUR 13.46 per ounce
12 Feb: USD 16.43, GBP 11.86 & EUR 13.39 per ounce
09 Feb: USD 16.36, GBP 11.83 & EUR 13.37 per ounce
08 Feb: USD 16.35, GBP 11.70 & EUR 13.36 per ounce
07 Feb: USD 16.69, GBP 12.02 & EUR 13.52 per ounce
06 Feb: USD 16.81, GBP 12.07 & EUR 13.59 per ounce
05 Feb: USD 16.88, GBP 12.01 & EUR 13.56 per ounce

https://news.goldcore.com/

Source: http://news.goldseek.com/GoldSeek/1518511260.php

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Posted in All Recent Posts, American Creek Resources Ltd., Explor Resources Inc., Monarques Gold | Comments Off on Sovereign Wealth Funds Investing In #Gold For “Long Term Returns” – PwC $AMK.ca $EXS.ca $MQR.ca

INTERVIEW – $GGX.ca Discusses Aggressive Exploration Initiative Within Prolific Golden Triangle #Gold #Mining $PVG $AMK.ca $SA $SEA.ca

Posted by AGORACOM-JC at 8:20 AM on Friday, February 9th, 2018

Ggx large

  • Focused in southern BC’s prolific Golden Triangle
  • Strategy is to prove up existing reserves and begin small scale production on the Gold Drop mine
  • Located 40 km from Grand Forks, British Columbia in geologically prospective ground in the well-mineralized Greenwood District
  • Property has seen high grade gold production

Private Syndicate: GGX Gold owns nine percent of a private syndicate focused on project generation within the Golden Triangle. The private syndicate includes some of the original team members that generated, prospected and staked the Coffee Creek claims.

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Posted in AGORACOM Via Satellite, All Recent Posts, GGX Gold Corp. | Comments Off on INTERVIEW – $GGX.ca Discusses Aggressive Exploration Initiative Within Prolific Golden Triangle #Gold #Mining $PVG $AMK.ca $SA $SEA.ca

INTERVIEW: Explor Resources $EXS.ca Discusses TPW Property with A 609K oz Indicated / 470K Inferred #GOLD Resource just 13Km from Timmins $EXN.ca $HBE.ca $OSK.ca

Posted by AGORACOM-JC at 2:20 PM on Thursday, February 8th, 2018

 

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Posted in AGORACOM Via Satellite, All Recent Posts, Explor Resources Inc. | Comments Off on INTERVIEW: Explor Resources $EXS.ca Discusses TPW Property with A 609K oz Indicated / 470K Inferred #GOLD Resource just 13Km from Timmins $EXN.ca $HBE.ca $OSK.ca

FEATURE: American Creek $AMK.ca encounters high grade #Gold #Silver at Treaty Creek north of, and in the same system as #Seabridge Gold $SEA $SA $SKE.ca $TUD.ca $PVG

Posted by AGORACOM-JC at 4:26 PM on Monday, January 29th, 2018

AMK: TSX-V, OTCBB: ACKRF

  • Intersected various mineralized zones
  • Most significant was 337.5m of continuous mineralization grading 0.76 g/t gold from 2 to 339.5m depth,
  • Including a higher grade intercept of 124.5m grading 0.98 g/t gold from 53.0 to 177.5m
  • Additional gold discovery of 5.1m of 9.57 g/t gold from 249.35m to 254.45m Read More

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Posted in AGORACOM Client Feature, All Recent Posts, American Creek Resources Ltd., Featured | Comments Off on FEATURE: American Creek $AMK.ca encounters high grade #Gold #Silver at Treaty Creek north of, and in the same system as #Seabridge Gold $SEA $SA $SKE.ca $TUD.ca $PVG

INTERVIEW: American Creek $AMK.ca Discusses Multitude of Success on Treaty Creek Drilling with Grades of 337.5m of 0.76 g/t, Including 124.5 m of 0.98 g/t #Gold $SEA $SA $SKE.ca $TUD.ca $PVG

Posted by AGORACOM-JC at 8:33 AM on Friday, January 26th, 2018

 

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Posted in AGORACOM Via Satellite, American Creek Resources Ltd. | Comments Off on INTERVIEW: American Creek $AMK.ca Discusses Multitude of Success on Treaty Creek Drilling with Grades of 337.5m of 0.76 g/t, Including 124.5 m of 0.98 g/t #Gold $SEA $SA $SKE.ca $TUD.ca $PVG

INTERVIEW: $HPQ.ca Receives 100% Access to Private Properties with Strong Local Support For Beauce Gold Field Project

Posted by AGORACOM-JC at 4:08 PM on Thursday, January 25th, 2018

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Posted in AGORACOM Via Satellite, All Recent Posts, HPQ-Silicon Resources Inc. | Comments Off on INTERVIEW: $HPQ.ca Receives 100% Access to Private Properties with Strong Local Support For Beauce Gold Field Project

$HPQ.ca Beauce #Gold Field Project Granted 100% Access to Private Properties on Strong Local Support

Posted by AGORACOM-JC at 9:34 AM on Thursday, January 25th, 2018

Hpq large

  • Company has successfully completed its first social acceptability campaign in the municipality of St-Simon-Les-Mines in the Beauce region of Quebec
  • As per Article 65 of Quebec’s new mining law
    • HPQ required written permission from 24 individual private property owners, representing 32 different real estate lots, before being allowed access to their property to complete last year’s geophysics exploration program
  • HPQ launched and executed a successful awareness program in the area, obtaining the required written permission from all the private property owners.

MONTREAL, QUEBEC–(Jan. 25, 2018) – HPQ Silicon Resources Inc (“HPQ”) (TSX VENTURE:HPQ)(FRANKFURT:UGE)(OTC PINK:URAGF) is pleased to inform shareholders that the company has successfully completed its first social acceptability campaign in the municipality of St-Simon-Les-Mines in the Beauce region of Quebec.

HIGH SOCIAL ACCEPTABILITY: 100% ACCESS TO PRIVATE PROPERTY GRANTED

As per Article 65 of Quebec’s new mining law, HPQ required written permission from 24 individual private property owners, representing 32 different real estate lots, before being allowed access to their property to complete last year’s geophysics exploration program and plan further mineral exploration work on the claims held by HPQ subsidiary, Beauce Gold Field Inc.

HPQ launched and executed a successful awareness program in the area, obtaining the required written permission from all the private property owners.

Bernard J. Tourillon, Chairman and CEO of HPQ Silicon stated, “Uptaining 100% access is a testament to the social acceptability of the project and represents another milestone in the advancement of the Beauce Gold Field Inc spin out. Without social acceptability, completing the Spin out could have been compromised. Patrick Levasseur and his team did an incredible job presenting the potential benefits of the project to the local community.”

SUCCESSFUL TOWN HALL MEETING

In addition to one-on-one meetings with the 24 property owners, HPQ held a town hall meeting in Saint Simon-Les Mine on November 16, 2017. Over 70 local residents attended the “Chalet des Loisirs” to listen to HPQ President, Patrick Levasseur, speak for nearly three hours about the Company’s Beauce Gold Field project, answering questions and fully addressing peoples concerns.

A photo accompanying this announcement is available at http://www.marketwire.com/library/20180125-891_Fig.jpg

Geologist Marc Richer-Laflèche and Louis-François Rinfret of the ¨Institut National de Recherches Scientifiques” (INRS) were also present to answer questions from attendees.

Mr. Levasseur’s presentation covered the town’s rich historical heritage as the site of Canada’s first gold rush and that, over one hundred years ago, it was the site of major placer gold mining activity. He explained that the company’s exploration main goal was locating the bedrock gold source of the historical placer gold deposits.

HPQ would like to take this opportunity to thank the Mayor of St-Simon-les-Mines, Mr. Martin St-Laurent, the town General Manager Mrs. Caroline Poulin and all the town’s people that came to out meeting. HPQ encourages all residents with further questions to contact Mr. Levasseur.

Patrick Levasseur of HPQ Silicon stated, “Its wonderful that the people of St-Simon-les-Mine share our enthusiasm for gold. We are grateful for their support and we are committed to include the community as we advance towards our goal of discovering a gold deposit”

About Beauce Gold Fields

Beauce Gold Fields Inc (BGF) is a wholly owned subsidiary of HPQ Silicon. HPQ is in the process of “Spinning Out” Beauce Gold Fields into a new publicly trading junior gold company which will apply for listing soon.

The Beauce Gold Fields project is a unique, historically prolific gold property located in the municipality of Saint-Simon-les-Mines in the Beauce region of Southern Quebec. Comprising of a block of 152 claims 100% owned by HPQ, the project area hosts a six kilometer long unconsolidated gold-bearing sedimentary unit (a lower saprolite and an upper brown diamictite). The gold in saprolite indicates a close proximity to a bedrock source of gold, providing possible further exploration discoveries. The property was also hosts numerous historical gold mines that were active from 1860s to the 1960s.

A Beauce Gold Fields presentation is available. It can be downloaded via link below
http://www.hpqsilicon.com/wp-content/uploads/2017/07/BGF-Presentation-V-Jul-2017.pdf

This News Release is available on the company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.

About HPQ Silicon

HPQ Silicon Resources Inc. is a TSX-V listed resource company planning to become a vertically integrated and diversified High Purity, Solar Grade Silicon Metal (SoG Si) producer and a manufacturer of multi and monocrystalline solar cells of the P and N types, required for production of high performance photovoltaic conversion.

HPQ goal is to develop, in collaboration with industry leaders that are experts in their fields of interest, the innovative metallurgical PUREVAP™ “Quartz Reduction Reactors (QRR)” process (patent pending), which will permit production of the highest efficiency SoG Si. The pilot plant equipment that will validate the commercial potential of the process is on schedule for 2018.

Disclaimers:

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Shares outstanding: 191,979,173

HPQ Silicon Resources Inc.
Bernard J. Tourillon
Chairman and CEO
(514) 907-1011

HPQ Silicon Resources Inc.
Patrick Levasseur
President and COO
(514) 262-9239
www.HPQSilicon.com

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Posted in All Recent Posts, Featured, HPQ-Silicon Resources Inc. | Comments Off on $HPQ.ca Beauce #Gold Field Project Granted 100% Access to Private Properties on Strong Local Support

American Creek $AMK.ca Reports on Treaty Creek Drilling up to 149.1m of 1.78 g/t Gold, Including 59.2m of 2.84 g/t #Gold $SEA $SA $SKE.ca $TUD.ca $PVG

Posted by AGORACOM-JC at 9:47 AM on Tuesday, January 16th, 2018

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  • Hole CB-17-26, returned 149.1m grading 1.78 g/t gold (from 97.8 to 246.9m),
  • including a 59.2m interval of 2.84 g/t gold (from 97.8 to 157m depth)

American Creek Resources Ltd (TSX-V: AMK) (the “Corporation”) is pleased to report on an additional 17 holes from JV partner Tudor Gold’s (“Tudor”) 2017 drill program on the Copper Belle zone at the Treaty Creek Project located in the Golden Triangle of northwestern British Columbia.

The summary of results provided in the table below, include the most promising gold intersections reported to date. Hole CB-17-26, returned 149.1m grading 1.78 g/t gold (from 97.8 to 246.9m), including a 59.2m interval of 2.84 g/t gold (from 97.8 to 157m depth). So far, 15 of the 16 holes drilled in the Copper Belle zone contain prominent mineralization, which continues to expand the size of this potential deposit and increases the area of the resource estimate for this zone.

Walter Storm, President and CEO of Tudor Gold, stated: “The outstanding interval of gold mineralization in Hole CB-17-26–149m of 1.78 g/t gold–contains the highest average gold grade yet recorded for porphyry style mineralization on the Treaty Creek property. It also ranks among the top tier, in terms of gold grades, of the hundreds of holes drilled during the past fifteen years into multiple porphyry targets on the adjoining KSM and Brucejack-Snowfield properties of Seabridge Gold and Pretium Resources, part of the same, large hydrothermal “Sulphurets” system. The fact that we have achieved these kinds of grades in only our second year after acquiring Treaty Creek speaks both to the potential of the property and also the expertise of our geological staff. This hole will serve to further guide our exploration at Copper Belle in 2018, as well as the more than 3km of ground yet to be explored between the Copper Belle and the Iron Cap Zone of Seabridge Gold to the south, an area defined by extensive magnetotelluric anomalies.”

Darren Blaney, President and CEO of American Creek stated: “Hole CB-17-26 is a game changer for the Treaty Creek Project. At this very preliminary stage of exploration, we have already located a significant zone of higher grade gold within the Copper Belle system. Further, the MT Survey suggests that this deposit is open in all directions, including towards Seabridge’s Iron Cap discovery located several kilometers to the south. What a terrific foundation for the upcoming 2018 drill program to expand upon.”

The Copper Belle 2017 resource delineation drill program comprised 27 holes to depths below 700m (an estimated 13,722m) and step-outs of 50m where topography permitted. Results from additional drill holes of the 2017 drill program at Copper Belle are still pending. Drill holes were targeted oblique to the northwesterly plunge of the main mineralized zone. A block of delineated mineralization will form the basis for a preliminary resource estimate. All drill holes were down hole surveyed at 25m stations using a Reflex Multi-shot device.

Tudor’s 2016 Magnetotelluric Geophysical Survey program (MT Survey) was effectively utilized as a guide for the drill program. The MT Survey suggests that the mineralization continues to the southwest, toward the Iron Cap deposit of Seabridge Gold Inc. The MT Survey also suggests that the mineralized zone continues in all directions. Tudor’s 2017 drill program was located five kilometers north of the Iron Cap deposit and the Company intends to step out to the south in its 2018 program to see if it can determine a relationship between the two areas.

A drill map of the Copper Belle can be found here: https://orders.newsfilecorp.com/files/4494/32005_tudor1enhanced.jpg

The Qualified Person for the Treaty Creek results in this new release is James McCrea, P.Geo. for the purposes of National Instrument 43-101. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

Background on the Treaty Creek Project

The Treaty Creek Project is situated immediately north of Seabridge Gold’s KSM property and near Pretium’s Valley of the Kings Mine, both of which are located in BC’s Golden Triangle along the Sulphurets and Brucejack fault systems that continue northward into the Treaty Creek property.

Tudor conducted a major drill program (approximately 20,000 metres) on the Treaty Creek property this past summer. The objective of the drill program was to define a gold resource on the Copper Belle zone and to determine the future potential of the high grade gold/silver/zinc GR2 zone located in a separate area adjacent to the Copper Belle.

Seabridge Gold’s proposed development plan for their KSM Project includes an access tunnel system through the Treaty Creek property as a key component. The Copper Belle and GR2 deposits located on the Treaty Creek property are both situated in the area in which Seabridge is proposing to construct tunnels connecting their KSM gold deposits with critical infrastructure such as the mill and tailings facilities.

The Treaty Creek Project is a joint venture between Tudor, Teuton Resources Corp., and American Creek. Tudor is the operator and holds a 60% interest with both American Creek and Teuton each holding respective 20% carried interests in the property (American Creek and Teuton are not required to contribute to their proportionate costs until a production notice is given).

A summary of the Treaty Creek Project can be viewed here:

http://www.americancreek.com/images/pdf/Treaty_Creek_Joint_Venture_Project.pdf

About American Creek

American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three gold/silver properties in the heart of the Golden Triangle; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor, as well as the recently acquired 100% owned past producing Dunwell Mine. Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King.

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

Cautionary Statements regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and geological merits of the Treaty Creek Project and other future plans, objectives or expectations of the Corporation are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from the Corporation’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180116005777/en/

American Creek Resources Ltd
Kelvin Burton, 403-752-4040
[email protected]
www.americancreek.com

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Posted in All Recent Posts, American Creek Resources Ltd., Featured | Comments Off on American Creek $AMK.ca Reports on Treaty Creek Drilling up to 149.1m of 1.78 g/t Gold, Including 59.2m of 2.84 g/t #Gold $SEA $SA $SKE.ca $TUD.ca $PVG

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