Posted by AGORACOM
at 7:30 PM on Tuesday, July 16th, 2019
Barrick Gold Corporation’s offer for Acacia Mining PLC under review by Independent Mining Consultants
Arguing Acacia is worth 38% more than Barrick’s offer
The takeover offer and its effect on the Kakamega joint venture project between Acacia and Advance Gold are not yet understood
The Kakamega joint venture project is owned 85.37% by Acacia and 14.63% by Advance Gold
New licenses for the joint venture project were issued and exploration program is underway post rainy season
Kakamega – The Rosterman Mine
Acacia Exploration Kenya Ltd. (“Acaciaâ€) has 85.47% equity in the
Kakamega Project, which comprises the Rosterman, Burkura, and Sigalagala
Projects in Kenya, East Africa.
Rosterman SL267: The most northerly of the three
licences hosts the historic Rosterman mine, which is reported to have
produced in excess of 250,000oz Au at average grade in excess of 13g/t. Click Click here for map
Bukura SL265 and Sigalagala SL266: The southern licences host numerous significant historical colonial mines and areas of active artisanal mining. Click here for map
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
and the Venaditas project in Zacatecas state. Advance Gold also holds a
14.63% interest in the Kakamega project held by Acacia Mining (63% owned
by Barrick Gold Corporation)
Posted by AGORACOM
at 10:58 AM on Thursday, June 13th, 2019
Barrick Gold Corporation has made a takeover offer for Acacia Mining plc
The takeover offer and its effect on the Kakamega joint venture project between Acacia and Advance Gold are not yet understood
The Kakamega joint venture project is owned 85.37% by Acacia and 14.63% by Advance Gold
New licenses for the joint venture project were issued and exploration program is underway post rainy season
Kakamega – The Rosterman Mine
Acacia Exploration Kenya Ltd. (“Acaciaâ€) has 85.47% equity in the
Kakamega Project, which comprises the Rosterman, Burkura, and Sigalagala
Projects in Kenya, East Africa.
Rosterman SL267: The most northerly of the three
licences hosts the historic Rosterman mine, which is reported to have
produced in excess of 250,000oz Au at average grade in excess of 13g/t. Click Click here for map
Bukura SL265 and Sigalagala SL266: The southern licences host numerous significant historical colonial mines and areas of active artisanal mining. Click here for map
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
and the Venaditas project in Zacatecas state. Advance Gold also holds a
14.63% interest in the Kakamega project held by Acacia Mining (63% owned
by Barrick Gold Corporation)
Posted by AGORACOM
at 7:59 PM on Saturday, June 1st, 2019
Barrick Gold Corporation has made a takeover offer for Acacia Mining plc
The takeover offer and its effect on the Kakamega joint venture project between Acacia and Advance Gold are not yet understood
The Kakamega joint venture project is owned 85.37% by Acacia and 14.63% by Advance Gold
New licenses for the joint venture project were issued and exploration program is underway post rainy season
Kakamega – The Rosterman Mine
Acacia
Exploration Kenya Ltd. (“Acaciaâ€) has 85.47% equity in the Kakamega
Project, which comprises the Rosterman, Burkura, and Sigalagala Projects
in Kenya, East Africa.
Rosterman SL267: The most northerly
of the three licences hosts the historic Rosterman mine, which is
reported to have produced in excess of 250,000oz Au at average grade in
excess of 13g/t. Click Click here for map
Bukura SL265 and Sigalagala SL266: The southern licences host numerous significant historical colonial mines and areas of active artisanal mining. Click here for map
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
and the Venaditas project in Zacatecas state. Advance Gold also holds a
14.63% interest in the Kakamega project held by Acacia Mining (63%
owned by Barrick Gold Corporation)
Posted by AGORACOM
at 9:30 PM on Saturday, May 25th, 2019
Barrick Gold Corporation has made a takeover offer for Acacia Mining plc
The takeover offer and its effect on the Kakamega joint venture project between Acacia and Advance Gold are not yet understood
The Kakamega joint venture project is owned 85.37% by Acacia and 14.63% by Advance Gold
New licenses for the joint venture project were issued and exploration program is underway post rainy season
Kakamega – The Rosterman Mine
Acacia
Exploration Kenya Ltd. (“Acacia”) has 85.47% equity in the Kakamega
Project, which comprises the Rosterman, Burkura, and Sigalagala Projects
in Kenya, East Africa.
Rosterman SL267: The most northerly
of the three licences hosts the historic Rosterman mine, which is
reported to have produced in excess of 250,000oz Au at average grade in
excess of 13g/t. Click Click here for map
Bukura SL265 and Sigalagala SL266: The southern licences host numerous significant historical colonial mines and areas of active artisanal mining. Click here for map
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 and the Venaditas project in Zacatecas state. Advance Gold also holds a 14.63% interest in the Kakamega project held by Acacia Mining (63% owned by Barrick Gold Corporation)
Posted by AGORACOM
at 10:40 AM on Thursday, March 28th, 2019
3 prospecting licenses have been issued for the three claims that comprise the Advane Gold – Acacia Mining JV
Two of the claims are located on either side of Acacia Mining’s 100% owned ground on the Liranda corridor.
Acacia’s 100% owned ground Owns a resource estimate of 1.2 million ounces of gold with an average grade of 12.6 g/t.
Claim PL/2018/0211 has seen past drilling that returned a highlight hole of 6 metres of 30.9 g/t gold, April 18/2016
Vancouver, British Columbia–(Newsfile Corp. – March 28, 2019) –
Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is
pleased to announce that new prospecting licenses have been issued for
the three claims (PL/2018/0210, PL/2018/0211 and PL/2018/0212) that make
up the West Kenya, Advance Gold – Acacia Mining joint venture. Two of
the claims are located on either side of Acacia Mining’s 100% owned
ground on the Liranda corridor.
On Acacia’s 100% owned ground a
resource estimate (from the Isulu Shoot) was announced in February 2018,
consisting of 1.2 million ounces of gold with an average grade of 12.6
g/t. The Isulu Shoot zone is contiguous to Advance Gold’s license
PL/2018/0211 and PL/2018/0210. Mineralization hosted on Acacia’s
property is not necessarily indicative of the mineralization hosted on
the properties that make up the Advance-Acacia joint venture. In
addition, claim PL/2018/0211 has seen past drilling that returned a
highlight hole of 6 metres of 30.9 g/t gold, see April 18/2016 news
release.
The joint venture is owned 85.37% by Acacia and 14.63%
by Advance Gold. If during the joint venture either party decides to
sell their interest, the other party has a first right of refusal on any
offering price. If Advance Gold is diluted down to a 10% interest
(approximately $1.7 million in exploration to dilute), then its interest
converts to a 3% uncapped net smelter royalty (NSR). In the event that
Advance Gold is diluted to a NSR, Acacia Mining has no first rights of
refusal and the NSR can be sold directly to any interested party.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Management
is delighted with the new licenses for our strategically located claims
in Kenya that have been recently re-issued. The joint venture claims
have seen high-grade gold intersections in past drilling, and are
located on the Liranda corridor on either side of Acacia Mining’s
high-grade gold resource at their Isulu Shoot. Based on the past work at
the joint venture claims, including drilling, geophysics, and surface
sampling, the potential of the project is clear and why an Acacia Mining
sized company is our partner. Acacia Mining is 64% owned by Barrick
Gold Corporation, so it is fair to say from Barrick’s public statements
about deposit size, that they are looking for more than 1.2 million
ounces. A logical move by Acacia Mining will be to drill more
extensively on the joint venture ground so as to enhance Acacia Mining’s
known resource. Now that we have the new licenses, Advance Gold will
evaluate its options to participate in further exploration, or be
diluted down to a NSR. We are also considering the option to sell our
interest as we feel that it is an attractive asset for gold miners,
streamers and royalty companies that are hard pressed to put their cash
to work as there aren’t a lot of high-grade gold projects to choose
from.”
About the Liranda Corridor Claims
The
Liranda Corridor is found on the map below (from the Acacia Mining
corporate presentation Feb. 2019) and it has been the focus of Acacia’s
exploration in western Kenya.
On Acacia Mining’s 100% owned
ground, they have an inferred resource of 1.2 million ounces at 12.1 g/t
gold. The entire resource is on the Isulu Shoot and can be seen in the
upper right corner of the map and is highlighted in red. The Isulu Shoot
occurs in the same structures that extend onto the Advance Gold-Acacia
Mining joint venture ground.
Past drilling on the joint venture
ground, has returned some of the highest reported grades from the
Liranda corridor. Including highlight drill intersections of 6 metres of
30.9 g/t gold (drillhole – KDAC0152), see April 18/2016 news release.
Acacia
Mining has determined the scope of the resource on their 100% ground.
It is clear from the geological setting, the structural trends and past
drilling on the joint venture ground that it is a prime target area to
enhance the Acacia Mining resource.
Julio
Pinto Linares is a QP, Doctor in Geological Sciences with specialty in
Economic Geology and Qualified Professional No. 01365 by MMSA., for
Advance Gold and is the qualified person as defined by National
Instrument 43-101 responsible for the accuracy of technical information
contained in this news release.
Other News
The
company would like to report the retirement of Jim Gillis. He will be
stepping down as the Chairman of the Board and director and will be
replaced by current director Bradley Newell.
The board of
directors would like to thank Jim Gillis for his many years of guidance
and wish him all the best in his retirement.
In addition to
Bradley Newell being a director that has been helping guide the company,
he is also the largest individual shareholder.
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 Nicholas 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] Corporate website: www.advancegold.ca