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Eloro $ELO.ca receives water permit for drilling at La Victoria $TTC.ca

Posted by AGORACOM-JC at 3:07 PM on Wednesday, October 25th, 2017
  • Received the use of water permit which allows Eloro to commence diamond drilling on the Rufina zone of the La Victoria gold/silver project in Peru.

Mr. Tom Larsen reports

ELORO RESOURCES COMMENCE DIAMOND DRILLING AT LA VICTORIA GOLD-SILVER PROJECT, PERU

Eloro Resources Ltd. has received the use of water permit which allows Eloro to commence diamond drilling on the Rufina zone of the La Victoria gold/silver project in Peru.

“Although La Victoria is located near world-class gold mines including Yanacocha (Newmont Mining), La Arena (Tahoe Resources) and Lagunas Norte (Barrick Gold) in Peru’s prolific Northern Central Mineral Belt, Eloro’s wholly-owned subsidiary in Peru is conducting the first drill program on La Victoria despite more than 30 years plus of artisanal mining on the property,” said CEO Tom Larsen. “This program should provide effective insights into the continuity of mineralization at depth that the artisanal miners and our geological and geophysical teams have discovered on surface.”

The planned diamond drilling program at Rufina will consist of 16 holes totalling 3,500 m to an approximate down hole depth of between 150 m to 280 metres. A drill contract has been signed with Energold Drilling Peru S.A.C. for NTW diamond drilling. The portable drill rig employed by Energold can be readily moved by existing public trails and requires only minimal drill pad preparation. Two drill rigs will be used with a staggered start to optimize efficiency and reduce overall cost per metre.

Thirteen of the holes are designed to be drilled across the mineralized shear zones and tear faults at Rufina; eight of them will test both the gold mineralization found on surface and the Induced Polarization (IP/Res) anomalies while the remaining three holes will test relevant IP/Res anomalies within the Rufina zone approximately 50 metres below surface.

The budget for the planned 3,500 metre drill program, including the completion of the geophysical program in progress, is CDN$2,000,000. The recent improved exchange rate for the $CDN versus the $US has had a positive effect on the budget numbers. Completion of this program will enable EHR Resources Limited., Eloro’s option and joint venture partner on the project, to satisfy the requirements of the Stage 1 Earn-in Period in order to acquire a 10% interest in La Victoria.

Assaying for the project will be done at SGS del Peru. Eloro employs an industry standard approach for QA/QC with use of standards, blanks and duplicate samples. Work in Peru is supervised by Luc Pigeon, P.Geo. a Qualified Person (“QP”) as defined under National Instrument 43-101 (“NI 43-101”). Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Eloro and a QP as defined under NI 43-101 will provide overall technical guidance for the program.

Results from drilling will be released as received.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Peru and Quebec. Eloro owns a 100% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Tahoe’s La Arena Gold Mine. The Property consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. The Property has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.

Dr. Bill Pearson, P.Geo., a Qualified Person in the context of NI 43-101 has reviewed and approved the technical content of this news release.

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How #Lithium is Driving the Global Push to End Gas-powered Vehicles $NAM.ca

Posted by AGORACOM-JC at 11:26 AM on Wednesday, October 25th, 2017
  • Global race for much-needed lithium is on
  • One development tilting the scale toward EVs is the fact that at least seven countries plan to ban the use of internal combustion engines
  • Air pollution problem that has hit critical levels, the Chinese government is seeking to cap carbon emissions by phasing out vehicles using gasoline and diesel

NEW YORK, October 25, 2017 – In business for over 100 years, the automotive industry is about to embark on a radical, convulsive transformation. The Washington Post (http://nnw.fm/0P4Do) recently pegged 2017 as the year electric vehicles (EVs) went from a promising fad to an industry-wide inevitability due to broader economic and cultural developments. With the forecast demise of the internal combustion engine, the demand for lithium, a crucial component of Li-ion batteries, is certain to surge as EVs proliferate. Lithium demand has already been projected to grow over 300% in the coming years, but that figure could prove to be a woeful underestimation given the massive transportation transformation that’s now on the horizon. The global race for much-needed lithium is on, and it’s being led by several established producers and prospective miners like Standard Lithium Ltd. (TSX-V: SLL) (OTC: STLHF) (FRA: S5L) (STLHF Profile), Albemarle Corporation , FMC Lithium and Sociedad Quimica y Minera , all of which are being driven further by current EV makers like Tesla, Inc. .

One development tilting the scale toward EVs is the fact that at least seven countries plan to ban the use of internal combustion engines. With an air pollution problem that has hit critical levels, the Chinese government is seeking to cap carbon emissions by phasing out vehicles using gasoline and diesel. Led by China’s 2030 fiat, the impending changes will prove momentous. India is on a similar trajectory. With a population nearly as large as China’s and an auto industry that ranks sixth-largest in the world, authorities in India are hoping that only fully electric vehicles will be sold after 2030. Norway wants to advance that target within its own borders by 2025. Germany, with the fourth-largest auto manufacturing industry in the world, plans a total ban on all internal combustion engines by 2030, while the UK has set its deadline for 2040. The Netherlands is mulling similar plans, and France wants all petrol and diesel cars off its roads by 2040. In addition to air pollution, oil spills are also a great global concern, posing ravishing and long-lasting economic and environmental consequences (http://nnw.fm/kwHt0).

Naturally, more electric vehicles on the road means more lithium-powered batteries, and, consequently, demand for the metal is climbing. Standard Lithium Ltd. (TSX.V: SLL) (OTCQX: STLHF) (FRA: S5L) is gearing up to play its part in boosting supplies. The Canada-based junior exploration company is intent on acquiring more domestic lithium-rich properties, looking to unlock value from overlooked U.S. lithium assets by applying new technologies and processes. Its first project in San Bernardino County, California, at the Bristol Dry Lake has already started to show signs of promise. Test results from a new geophysical survey of the 25,000-acre Bristol Lake site indicate that high concentrations of lithium-bearing brines are present throughout the company’s mineral lease agreement claims.

In a recent interview (http://nnw.fm/K0Srt), CEO Robert Mintak explained why the company is excited about Bristol Lake:

“The project had, he said, ticked off all the boxes. “It had low geological risk for us because we knew we had access to brine that we could immediately begin analyzing for lithium values. It had infrastructure in place because it is a producing mine. It has a paved highway right up to the front door; power and water and, as I mentioned, most importantly, we are working with a permitted mining partner. So a lot of the initial challenges that companies face in getting permits and access to sites to begin work are out of the way.”

The permitted mining partner at Bristol Lake is National Chloride Corporation of America (NCCA), a well-established and permitted brine producer. NCCA’s presence at the site means that the entire necessary infrastructure is in place to give Standard Lithium immediate access to conduct exploration brine sampling, lithium extraction, evaporation and processing activities, all within a fast-track project development schedule. Importantly, it also means that Standard Lithium reduces much of the exploration risks to which junior mining companies are typically exposed.

To improve the quality assurance standards necessary to produce battery-grade lithium compounds, Standard Lithium has appointed a Scientific Advisory Council (SAC) comprised of lithium extraction scientists and process engineers who will oversee and direct all required lithium extraction testing. In addition to the Bristol Lake Brine Project, Standard Lithium in August signed a Memorandum of Understanding with an unnamed NYSE-listed company on an option for Standard Lithium to acquire lithium exploration and productions rights on 30,000 net brine acres overlying the Smackover formation in a region with a history of commercial-scale brine processing. Management said it believes that lithium-bearing brines are likely present in this area. Smackover brines are metal-rich brine anomalies in reservoir rocks along the Gulf Coast from east Texas to Florida that are known to be a prime lithium resource. This asset may be one of the most promising to develop, given that a large-scale brine extraction, processing and re-injection industry is already well established.

Albemarle Corp. is also poised to benefit from the global governmental promotion of EVs, touting itself as the industry leader in lithium and lithium derivatives.” In 2015, it acquired Rockwood Lithium and started a new production plant for lithium sulfide in Langelsheim, Germany, triggering a steady rise in share price. Over the past year alone, shares of Albemarle have risen about 69%. South American miner Sociedad Quimica y Minera de Chile has also experienced a rise in share price, gaining more than 100 percent over the last year. According to S&P Global Market Intelligence, ‘SQM’s “lithium and lithium derivatives” business earns gross profit margins of better than 38%.’ FMC Corp. , the parent company of FMC Lithium, is enjoying a similar run, with shares increasing nearly 100 percent over the past year. Meanwhile, Tesla , which in June 2014 created its Tesla Gigafactory in an effort to supply enough batteries to support its mission of producing 500,000 EVs per year by 2018, is also on the rise. A year ago, it was trading at $199.10; now, it is up 75% at $349.48.

Tesla’s Model 3 is the company’s first mass-market EV, and, with a relatively affordable starting point of $35,000, it has garnered considerable consumer interest and market buzz. The popularity and accessibility of the Model 3 is another factor against internal combustion engines.

Other major automakers including Audi, BMW, Ford, Mercedes, Volkswagen and Volvo are also on the EV bandwagon with plans to enter the EV market. General Motors has set a goal of producing 20 new EVs by 2023, demonstrating industry acknowledgement that the tide is turning toward an all-electric future. With the odds stacked against combustion engines, there’s little doubt that fossil fuel-powered vehicles will be phased out and replaced by EVs. This powerful macro trend makes lithium assets ever more valuable and lithium companies an interesting investment opportunity.

For more information on Standard Lithium please visit: Standard Lithium Ltd. (TSX.V: SLL) (OTCQX: STLHF) (FRA: S5L)

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Source: https://www.theautochannel.com/news/2017/10/25/451207-how-lithium-is-driving-global-push-to-end-gas-powered.html

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GGX Gold receives additional Drill Results from Phase II Diamond Drilling at Gold Drop, including 3.17 g/t Gold over 0.47 Meters

Posted by AGORACOM at 9:30 AM on Wednesday, October 25th, 2017

 

  • Northeast – Southwest COD Vein has over 160 meter strike length
  • Results are from drill holes COD17-21 to COD17-27
  • GGX intercepted 3.17 g/t Gold over 0.47 Meters

Vancouver, British Columbia (FSCwire) – GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce the receipt of additional drill core sample analytical results from the recent diamond drilling program at its Gold Drop Property, located near Greenwood, B.C. These analytical results are for samples from drill holes COD17-21 to COD17-27. The Company recently completed a Phase II diamond drilling program in the Gold Drop Southwest Zone, targeting the gold and silver bearing COD Vein.

 

The objective of the Phase II drilling was to further explore and define the COD Vein, a Dentonia / Jewel style quartz vein. Trenching during 2017 exposed the northeast – southwest striking COD Vein for over 160 meter strike length. The Phase II drilling program aimed to delineate the COD Vein from 2 pad locations in the northern extent of the trench, 100 and 160 m north of the COD mine shaft. The Phase II drilling totaled 12 holes (690 meters).

 

To view the graphic in its original size, please click here

 

The Company had previously received analytical results for 68 trench channel samples collected at the COD Vein. These samples returned anomalous to high grade values for gold, including high values of 43.2 grams / tonne (g/t) Gold and 224 g/t Silver (News Release of July 26, 2017). The first batch of 2017 drill core samples for the COD Vein returned up to 24.1 g/t Gold and 192 g/t Silver (News Release of Aug 28, 2017). The second batch of drill core samples also returned significant gold and silver values including a broad intersection in hole COD17-14 grading 4.59 g/t Gold and 38.64 g/t Silver over 16.03 meters core length with a high grade core grading 10.96 g/t Gold and 89.86 g/t Silver over 5.97 meters core length (News Release of Sept 7, 2017).

 

To view the graphic in its original size, please click here

 

Drill core was geologically logged and sampled at the Greenwood facility. Drill core was sawn in half with half core samples submitted for analysis and remaining half core stored in a secure location. Core samples were delivered to the ALS Minerals laboratory in Vancouver to be analyzed for gold by Fire Assay – AA. The samples from holes 15 to 27 were also analyzed for 48 Elements by Four Acid and ICP-AES / ICP-MS. Quality control (QC) samples are inserted at regular intervals.

 

To view the graphic in its original size, please click here

 

Drill core samples collected for holes COD17-21 to COD17-27 were from select intervals, testing the COD Vein and intervals of host rock. The analyses listed in the following table below are from the gold and silver bearing vein and / or low grade mineralized host rock. Since true widths cannot be accurately determined from the information available the core lengths (meters) are reported. The Gold and Silver analyses are reported in grams / tonne.

 

HOLE ID From To Core interval Length Au ppm Ag ppm
COD17-22 10.97 11.65 0.68 0.74 8.82
COD17-23 11.55 12.25 0.7 0.49 5.11
COD17-23 56.75 57.2 0.45 0.59 5.91
COD17-23 58.95 59.6 0.65 0.76 5.86
COD17-24 12.97 13.82 0.85 0.43 5.79
COD17-25 47.67 48.38 0.71 1.52 15.35
COD17-25 48.38 49.01 0.63 0.43 5.94
COD17-26 8 8.47 0.47 3.17 40.1
COD17-26 29.92 30.76 0.84 0.52 5.02
COD17-27 10.62 10.97 0.35 0.61 6.46
COD17-27 38.06 38.96 0.9 0.43 5.68

Hole COD17-26 was located at the northern-most pad along the COD trench. The sample at 8.00 – 8.47 meters from this hole was of a near-surface oxidized vein. The sample at 47.67 – 48.38 meters from hole COD17-25 was of quartz veins and altered host rock. This batch of analytical results continues to reveal intervals of low grade gold in the host rock. The two samples at 56.75 – 57.20 and 58.95 – 59.60 meters from hole COD17-23 are of altered host rock.

 

Quartz veins in COD17-14

To view the graphic in its original size, please click here

 

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

 

On Behalf of the Board of Directors,

 

Barry Brown, Director

604-488-3900

 

Investor Relations:

 

Mr.  Jack Singh: 604-720-6598     E-mail: [email protected]

 

“ We don’t have to do this, we get to do this ” 

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Are you an investor in Richmont Mines $RIC.ca ? Check out the recent acquisition by Monarques $MQR.ca

Posted by AGORACOM-JC at 4:17 PM on Monday, October 23rd, 2017

Monarquesgold hub large

Why Monarques Gold?

  • A gold producer with the Beaufor Mine (gold production of 19,562 ounces in 2016; source Richmont 2016 annual report)
  • Located in one of the best mining jurisdictions in Canada.
  • A large portfolio of mining assets, including the Beaufor Mine, two mills (Camflo and Beacon), two advanced projects (Wasamac and Croinor Gold) and eight exploration projects covering more than 240 km2 in the Abitibi region.
  • Upside potential and leverage to the gold price with the Wasamac project.
  • NI 43-101 proven and probable reserves of 162,790 ounces of gold, measured and indicated resources of 1.76 million ounces and inferred resources of 1.67 million ounces (see table below).
  • Over 150 highly experienced, qualified employees will join the Monarques team.
  • A strong financial position, with over $12 million in cash and cash equivalents.

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Tartisan Resources Corp. $TTC.ca to Acquire Canadian Arrow Mines Limited $CRO.ca

Posted by AGORACOM-JC at 8:11 AM on Friday, October 20th, 2017

Tartisan logo copy

  • Tartisan will acquire all of the issued and outstanding common shares of Canadian Arrow Mines Limited by way of a court-approved plan of arrangement
  • Tartisan would issue to Canadian Arrow Mines Limited shareholders one common share of Tartisan for every 17.5 common shares of Canadian Arrow, resulting in the issuance of approximately 8,000,000 common shares of Tartisan

TORONTO, Oct. 20, 2017 – Canadian Arrow Mines Limited (TSX.V:CRO) – (“Canadian Arrow”) announces that a definitive arrangement agreement (the “Agreement”) has been signed with Tartisan Resources Corp. (CSE: TTC) – (“Tartisan”) whereby Tartisan will acquire all of the issued and outstanding common shares of Canadian Arrow Mines Limited (“Canadian Arrow”) by way of a court-approved plan of arrangement (the “Arrangement”) in accordance with the Business Corporations Act (Ontario) in exchange for common shares in the capital of Tartisan.

Pursuant to the terms of the Agreement, Tartisan would issue to Canadian Arrow Mines Limited shareholders one common share of Tartisan for every 17.5 common shares of Canadian Arrow, resulting in the issuance of approximately 8,000,000 common shares of Tartisan. Additionally, Tartisan would issue up to 4,500,000 common shares of Tartisan to settle Canadian Arrow debt pursuant to debt conversion agreements with various Canadian Arrow creditors. Certain lock up provisions are included in the Debt Conversion Agreements. Tartisan has also agreed to pay the transaction related expenses of Canadian Arrow.

The proposed transaction provides Canadian Arrow shareholders with liquidity, sustaining capital and an opportunity to participate in the potential upside of Tartisan.

The board of directors of Canadian Arrow (the “Canadian Arrow Board”) has approved the Arrangement and the entering into of the Arrangement Agreement and has determined to recommend that shareholders of Canadian Arrow vote in favour of the Arrangement. Completion of the Arrangement is subject to customary closing conditions, including approval of the Ontario Superior Court of Justice (Commercial List), the approval of holders of not less than 66 2/3% of the holders of Canadian Arrow Shares voted at a special meeting of Canadian Arrow shareholders that will be called to approve the Arrangement (the “Special Meeting”) as well as majority of the minority approval as required under applicable Canadian securities laws. The Arrangement is also subject to the approval of the TSX Venture Exchange, the Canadian Securities Exchange and all applicable regulatory authorities, as well other conditions typical for a transaction of this nature.

The terms of the Arrangement will be summarized in an information circular of Canadian Arrow (the “Circular”) that is anticipated to be mailed to the shareholders of Canadian Arrow in connection with the Special Meeting which is expected to be held in early January 2018. Canadian Arrow has received from Harris Capital Corporation an opinion that the Arrangement consideration is fair, from a financial point of view, to the shareholders of Canadian Arrow, and retained Fogler Rubinoff LLP as its legal counsel. Robert M. Isles is acting as legal counsel to Tartisan. A copy of the Arrangement Agreement, the Circular and related documents will be filed with the Canadian regulatory authorities and will be available for review under Canadian Arrow’s SEDAR profile at www.sedar.com.

The Agreement contains customary non-solicitation provisions which are subject to Canadian Arrow’s right to consider and accept a superior proposal subject to a matching right in favour of Tartisan. In the event that the Arrangement is not completed as a result of a superior proposal or for other certain specified circumstances, Canadian Arrow will pay Tartisan a termination fee of $100,000.

The Arrangement constitutes a “business combination” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) for Canadian Arrow as Canadian Arrow is indebted to certain of its directors and such indebtedness will be settled through the issuance of common shares of Tartisan in connection with the closing of the Arrangement. The indebtedness of Dean MacEachern is approximately $9,000, the indebtedness of Kim Tyler is approximately $5,000 and the indebtedness of George Pirie is approximately $20,000. Although Canadian Arrow does not consider the amounts of such indebtedness to be material the fact that such indebtedness is being satisfied through the issuance of common shares of Tartisan in connection with the completion of the Arrangement means that the Arrangement is considered to be a Business Combination for the purposes of MI 61-101. Canadian Arrow is relying on the formal valuation exemption in section 4.4(a) of MI 61-101, on the basis that no securities of Canadian Arrow are listed on the Toronto Stock Exchange or other specified markets. Canadian Arrow will seek the requisite approvals of the Arrangement from its shareholders at the Special Meeting.

If the Arrangement is completed, the common shares of Canadian Arrow will be delisted from the TSX Venture Exchange.

None of the securities to be issued pursuant to the Arrangement Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

About Tartisan Resources Corp.

Tartisan Resources Corp. is a Canadian mineral exploration and development company focused on project generation of precious and base metal properties. Tartisan owns a 100% stake in the Don Pancho Zinc-Lead-Silver Project just 9 km from Trevali’s Santander Mine and owns a 100% stake in the Ichuna Copper-Silver Project contiguous to Buenaventura’s San Gabriel Property. Tartisan Resources portfolio also includes an equity stake (6 million shares and 3 million warrants @ 40 cents) in Eloro Resources Ltd. (TSX.V:ELO). Tartisan Resources Corp. common shares are listed on the Canadian Securities Exchange and is a Member of the CSE Composite Index (CSE:TTC). There are currently 73,052,443 shares outstanding (90,145,827 fully diluted).

About Canadian Arrow Mines Limited

Canadian Arrow is an experienced exploration and mine operating team that is focussed on acquiring and developing economically viable nickel sulphide deposits near existing infrastructure. Canadian Arrow operates in north-western Ontario, near the towns of Kenora and Dryden. The company’s main asset is the Kenbridge Nickel Project, a nickel-copper sulphide deposit containing over 98 million lbs of nickel in Measured & Indicated Resources. The deposit is equipped with a 620m shaft and has never been mined.

Additional information about Canadian Arrow can be found at the company’s website at www.canadianarrowmines.com or on SEDAR at www.sedar.com.

Forward Looking Information

Certain information contained in this news release constitutes forward looking information. All information other than information of historical fact is forward looking information. The use of any of the words “intend”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “would”, “believe”, “predict” and “potential” and similar expressions are intended to identify forward looking information. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking information. No assurance can be given that this information will prove to be correct and such forward looking information included in this news release should not be unduly relied upon.

The forward looking information provided in this news release is based upon a number of material factors and assumptions including, without limitation: (a) that the Arrangement will be completed in the timelines and on the terms currently anticipated; (b) that all necessary CSE, TSXV, court and regulatory approvals will be obtained on the timelines and in the manner currently anticipated; (c) that all necessary Shareholder approvals will be obtained; and (d) general assumptions respecting the business and operations of both Canadian Arrow and Tartisan, including that each business will continue to operate in a manner consistent with past practice and pursuant to certain industry and market conditions.

Readers are cautioned that the foregoing list of risks, uncertainties and assumptions are not exhaustive.

The forward looking information included in this news release is expressly qualified by this cautionary statement and is made as of the date of this news release. Neither Canadian Arrow nor Tartisan undertake any obligation to publicly update or revise any forward looking information except as required by applicable securities laws.

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

SOURCE Canadian Arrow Mines Limited

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Monarques Gold $MQR.ca buys back royalty on the Wasamac property from Globex $GMX.ca

Posted by AGORACOM-JC at 10:30 AM on Wednesday, October 18th, 2017

Monarquesgold hub large

  • Announced that Globex Mining Enterprises Inc. has purchased the 1.5% Net Smelter Royalty (NSR) applicable to Globex’s wholly-owned Francoeur/Arntfield gold property
  • As consideration for the royalty, Globex made a $25,000 cash payment to Monarques and cancelled a 0.5% NSR payable by Monarques to Globex on 11 claims located on the eastern portion of Monarques’ Wasamac gold property

MONTREAL, Oct. 18, 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to announce that Globex Mining Enterprises Inc. (“Globex”) (TSX: GMX) has purchased the 1.5% Net Smelter Royalty (NSR) applicable to Globex’s wholly-owned Francoeur/Arntfield gold property. As consideration for the royalty, Globex made a $25,000 cash payment to Monarques and cancelled a 0.5% NSR payable by Monarques to Globex on 11 claims located on the eastern portion of Monarques’ Wasamac gold property. In addition, Globex has extended Monarques’ right to store Wasamac core at Globex’s Francoeur Mine site to June 30, 2019.

“As part of our strategy to control costs, this agreement will reduce any future royalty payments on our Wasamac property,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “The agreement also allows us to lock in short-term cash on the Globex royalty and savings for our Wasamac project.”

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 more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,200 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 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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$GR.ca Great Atlantic Drills Keymet Base Metal Project, Newfoundland

Posted by AGORACOM at 9:00 AM on Wednesday, October 18th, 2017

  • Keymet is a past producing Pollymetallic property
  • Hole Ky-17-6 included 50M of arsenopyrite which has traditionally carried gold at Keymet
  • Pollymetallic mines are the most sought after Base Metal projects due to presence of multiple ore types

Vancouver, British Columbia (FSCwire) – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has completed a diamond drilling program at its Keymet Precious – Base Metal Property, located near Bathurst, northeast New Brunswick. The Keymet property hosts multiple gold, silver, zinc, lead and / or copper occurrences and the Keymet deposit, site of the historic Keymet Mine. The drilling program (5 holes totalling 679 meters) was conducted in the northwest region of the property, northwest of the historic Keymet Mine.

 

“We are very encourage at this year’s drill program and are enthusiastically awaiting all the results but particularly interested in the unexpected arsenopyrite within a 50 meter core length interval in hole Ky-17-6, traditionally arsenopyrite has carried Gold on this property.  As well we want to say a special thanks to Don and the guys at Orbit Garant Drilling, excellent job “Says: Christopher R Anderson CEO

 

To view the graphic in its original size, please click here

 

The program tested the continuation of zinc, copper and silver bearing veins and a gold mineralization intersected by Great Atlantic during 2015 diamond drilling and trenching programs. All five holes intersected veins hosting base metal sulfides while three holes also intersected arsenopyrite mineralization. Gold mineralization on the property is associated with arsenopyrite.  The Company is conducting systematic sampling of mineralized drill core from the recent program.

 

Gold bearing boulders (samples up to 51 grams / tonne (g/t) Au) and gold bearing bedrock in trenches and drill core have been discovered by Great Atlantic in the northwest region of the property. Great Atlantic drilled two holes in 2015 at one site in this region (Ky-15-3 and Ky-15-4), approximately 1.4 kilometers of the historic Keymet Mine, in an area referred to as the Elmtree 12 occurrence. Both 2015 holes intersected base metal and silver bearing veins (including 16.68% zinc, 1.11% copper and 152.0 g/t silver over 1.80 metre core length in Ky-15-3 and 8.68% zinc and 44.8 g/t silver Ag over 4.28 metre core length in Ky-15-4). Hole Ky-15-3 also intersected a gold bearing interval (3.28 g/t Au over 2.1 meter core length). The true width of these initial 2015 drill intersections is unknown at this time. The recent drilling tested the continuation of this base metal and precious metal mineralization.

 

To view the graphic in its original size, please click here

 

Each of the 2017 drill holes intersected veins with copper, lead and zinc sulfide mineralization. Arsenopyrite mineralization has been observed in three of these holes. Gold mineralization in boulders and bedrock in this area is associated with arsenopyrite.

 

Holes Ky-17-5, 6, 7 and 9 of the recent program were drilled in the same area as 2015 holes Ky-15-3 and 4. Each of these four holes intersected base metal bearing veins. Company management are interpreting the main veins to be within a steep dipping to vertical vein system to strike approximately north – south, with all Great Atlantic drill intersections to date being within an approximately 70 meter strike length and shallow (above 100 meter vertical depth).  Hole Ky-17-6 intersected local arsenopyrite within an approximate 50 meter core length interval appearing to be east to northeast of the main base metal bearing vein zone.  Holes Ky-17-5 and 7 also intersected local arsenopyrite.

 

To view the graphic in its original size, please click here

 

To view the graphic in its original size, please click here

Veins containing copper, zinc and lead sulfide mineralization in hole Ky-17-07

 

To view the graphic in its original size, please click here

Vein containing copper and zinc sulfide mineralization in hole Ky-17-05.

 

To view the graphic in its original size, please click here

Vein containing zinc and lead sulfide mineralization in hole Ky-17-8

 

Hole Ky-17-8, located approximately 80 meters southwest of holes Ky-17-5, 6 and 7, tested the down-dip extension of a gold bearing zone discovered by the Company in a 2015 trench (channel samples returning 1.1 g/t Au over 4.9 meters). The gold bearing zone in the trench is characterized by minor arsenopyrite in metasediments and increased quartz veining. A fault zone is also exposed in the trench hosting base metal and silver mineralization (2015 grab sample returned 8.99% lead, 1.76% zinc, 0.80% copper and 237 g/t silver). Arsenopyrite is not apparent in Ky-17-8 drill core. However quartz veining was intersected under the trench gold zone. The hole also intersected veins with base metal sulfides approximately vertically under the trench fault zone.

 

Closed-spaced 1980s diamond drill holes (Brunswick Mining and Smelting and Aurtec Inc.) in the area of holes Ky-15-3, 4, Ky-17-5, 6, 7 and 9 intersected near-surface mineralized veins (Elmtree 12 vein occurrence). A 0.88 metre core length interval from a 1981 drill hole was reported to grade 7.72% Cu, 11.36% Zn an 13.6 ounces per ton Ag. A 1.22 metre core length sample from a near-by 1989 drill hole was reported to assay 16.4% Cu, 10.11% Zn and 31.0 ounces per ton Ag. The true width of these intersections is unknown. These drill intersections are within 50 metre vertical depth. Great Atlantic personnel found loose casing in this area during 2015. It is uncertain which historic hole this represents.

 

Access to the property is excellent with paved roads transecting the property, including a provincial highway. The property covers an area of approximately 3,400 hectares.

 

To view the graphic in its original size, please click here

 

Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.

 

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, 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.

 

 

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#Palladium Price Hits 16-Year High #PGM $NAM.ca

Posted by AGORACOM-JC at 2:47 PM on Tuesday, October 17th, 2017
October 17, 2017  by SchiffGold

A UBS strategist told CNN she’s convinced palladium’s strength is driven by fundamentals.

Like silver, palladium has both industrial and investment value. It is used in cars, electronics, dentistry, and jewelry. Between 1988 and 2002, the Canadian mint produced a palladium Maple Leaf coin.

Commerzbank analysts talked up palladium in a note to its clients.

Palladium is continuing to soar. Not only does demand from the automotive industry appear robust — speculative financial investors are also remaining loyal to palladium.”

Analysts say the surge in the price of palladium is due to strong demand for the metal, coupled with tight supply. About 78% of the demand comes from the auto industry. The metal is used in catalytic converters for gasoline-powered engines. The drive to curb auto emissions and the “demise of the diesel engine” in passenger cars has boosted demand for the metal.

According to analysts at City Index, tight supply is the primary factor driving the price of palladium.

Palladium supply is at its lowest level for 14 years and demand has been outpacing supply since 2011.  There is a strong potential for an ongoing supply deficit in the coming months, which could trigger a further price rise.”

Joni Teves, an analyst at UBS, told the Telegraph there is a currently a major shortfall in palladium production. The market could hit a deficit of 830,000 ounces this year, as miners have cut back production due to unproductive mines and increasing mining costs.

Russia and South Africa lead the world in palladium production.

The palladium market’s downside stems from its heavy reliance on the auto industry. Some analysts say the eventual rise of electric vehicles will impact the demand for metals used in catalytic converters. But electronic car technology still appears a long way from mass consumer acceptance. Their lack of range, the need for frequent charging, and their cost makes electric vehicles less than ideal for the average person.

The palladium market is much more volatile than gold and silver, but it could serve as an excellent diversifier for your precious metals portfolio. Call 1-888-GOLD-160 to talk to one of SchiffGold’s precious metals specialists today to learn more about investing in palladium.

Source: https://schiffgold.com/key-gold-news/palladium-price-hits-16-year-high/

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American Creek $AMK.ca Commences Exploration Program on Dunwell #Mine Group of Properties in BC’S Golden Triangle

Posted by AGORACOM-JC at 8:44 AM on Tuesday, October 17th, 2017

Hublogolarge2 copy

  • Exploration program has commenced on Dunwell Mine group of properties
  • Objectives of the program include locating adits and other historic workings and planning hole locations for a Phase 1 drill program

American Creek Resources Ltd. (TSX-V:AMK) (“the Corporation”) is pleased to announce that an exploration program has commenced on the Corporation’s Dunwell Mine group of properties (“Dunwell property”) located in the “Golden Triangle” 7 km northeast of Stewart, BC.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171017005703/en/

Historic Dunwell Mine (Photo: Business Wire)

The objectives of the program include locating adits and other historic workings and planning hole locations for a Phase 1 drill program.

The 1,528 hectare Dunwell property includes the past producing high-grade Dunwell Gold Mine which from 1926-1941 produced 45,657 tonnes averaging 6.63 g/t gold, 223.91 g/t silver, 1.83 % lead, 4.01% zinc and .056% copper.

In addition to the Dunwell Mine, there are in excess of 15 other high-grade gold/silver showings located on the property including the Ben Ali (produced 4,500 tons of 21.6 g/t gold), the Tyee (produced 8.2 tonnes of 124.4 g/t gold with 4,478.8 g/t silver), the George E. (produced 12 tons of 13.0 g/t gold with 3,250.0 g/t silver and 23.3% lead) and several others with past production of high-grade gold, silver and base metals.

The Dunwell property is located in the richest portion of the Portland Canal Fissure Zone between the past producing Silbak-Premier gold mine (8km northwest) and the past producing Porter Idaho silver mine (10km south). IDM’s Red Mountain project (at feasibility stage) is located approximately 11km to the east.

Like the past producing Silbak-Premier and Porter Idaho mines that are now in the process of being put back into production in the near future, the Corporation believes that there is also potential to prove up more high-grade gold and silver reserves at the past producing Dunwell Mine along strike and below the level 4 workings.

Darren Blaney, CEO of American Creek, stated the following: “We are excited to have begun work on the recently acquired and amalgamated Dunwell Mine group. Even at this early stage of field work we have already located several high-grade vein systems both on surface and underground. Planning for upcoming drilling, including fine-tuning drill targets, is already underway.

The four recent strategic property deals and subsequent property amalgamation making up the Dunwell project were the culmination of many years of anticipating being able to acquire this strategic and highly prospective ground. It is satisfying to see it all coming together.”

A summary of the Dunwell Mine project can be viewed here: http://americancreek.com/images/pdf/DUNWELL_MINE_GROUP.pdf

See the Dunwell, Bear River, and Silvershot properties on the website.

The Dunwell Mine group of properties is an amalgamation of four recent strategic acquisitions of adjoining properties. The amalgamated property package represents the first time in many years that these prospective properties will be under single ownership. The project is 100% owned by the Corporation.

About American Creek

American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three “Golden Triangle” gold/silver properties; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor as well as the recently acquired 100% owned past producing Dunwell Mine group of properties. 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

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/20171017005703/en/

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

 

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#Palladium tops $1,000 for first time since 2001 on auto demand #PGM $NAM.ca

Posted by AGORACOM-JC at 4:48 PM on Monday, October 16th, 2017
  • Palladium climbed above $1,000 an ounce for the first time since 2001 on hopes for rising demand from the car industry amid a shortage of supply
  • Prices for the metal, which is used in catalytic converters to curb pollution from mainly gasoline-powered vehicles, jumped as much as 1.9% to $1,010.22 on Monday in the spot market, before trading at $1,006.61 at 9:24am in New York

Singapore/London: Palladium climbed above $1,000 an ounce for the first time since 2001 on hopes for rising demand from the car industry amid a shortage of supply.

Prices for the metal, which is used in catalytic converters to curb pollution from mainly gasoline-powered vehicles, jumped as much as 1.9% to $1,010.22 on Monday in the spot market, before trading at $1,006.61 at 9:24am in New York. Gold for immediate delivery held near a three-week high.

Palladium is one of this year’s best-performing commodities, advancing 48%, more than three times the increase in gold and about 10 times the gain in its sister metal platinum.

“Palladium continues to be driven by the positive momentum created by expectations of a supply deficit amid rising demand,” Ole Hansen, head of commodity strategy at Saxo Bank A/S, said by email. Industrial metals have risen this year as the world economy recovers, and copper burst through $7,000 a metric ton on Monday for the first time since 2014.

Palladium became more expensive than platinum last month for the first time in 16 years. Prices for platinum, used in autocatalysts for diesel engines, have been hit as some European carmakers admitted to cheating emissions tests for such vehicles, curbing consumer demand.

Platinum declined 0.1% to $944.60 an ounce Monday.

Things could get worse. Europe’s diesel-engine market share may fall by half by 2025, potentially removing 300,000 to 600,000 ounces of platinum demand in the next decade, according to Citigroup Inc. The bank sees global surpluses in platinum stretching out to 2020, while the shortfall in palladium is set to widen to more than a million ounces next year before narrowing to 750,000 ounces by 2020.

“Despite the PGM spread inversion since the end of September, we remain favorable to palladium over the short term,” Citigroup analysts including Nell Agate said in a note dated Friday. “However, ever-looming substitution risks prevent an outright bullish view on palladium over the long term.”

Trading activity has also played a role in boosting palladium prices, Simona Gambarini at Capital Economics Ltd in London, said by email. “As such, prices look vulnerable to a correction,” she said.

Spot gold touched the highest intraday since 26 September, gaining as much as 0.2% to $1,306.11 an ounce before a host of US Federal Reserve speakers this week who may provide clues on the outlook for US monetary policy. Silver was little changed at $17.4155 an ounce.

Source: http://www.livemint.com/Money/a3TzHLW6hHkXjXMcMBoPgJ/Palladium-tops-1000-for-first-time-since-2001-on-auto-dema.html

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