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Great Atlantic Receives Diamond Drilling Permits Golden Promise Gold Property in Central Newfoundland

Posted by AGORACOM at 7:52 AM on Thursday, September 14th, 2017

 

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  • Permit allows for up to 8,000 meters of drilling and 48 drill holes
  • First phase of drilling scheduled in early October, focusing on the Jaclyn Main Zone
  • Zone has been traced for 450 meters and locally to a vertical depth of 175 meters

VANCOUVER, BC / ACCESSWIRE / September 14, 2017 / GREAT ATLANTIC RESOURCES CORP. (TSX-V.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received a permit for diamond drilling from the Newfoundland and Labrador Dept. of Natural Resources for its Golden Promise Gold Property in central Newfoundland. The permit allows for up to 8,000 meters of drilling and 48 drill holes. This permit expires on July 26, 2018. Multiple gold bearing quartz veins occur within the permit area including the Jaclyn Main, Jaclyn North, Jaclyn South and Jaclyn West Zones. The Company is planning to commence the first phase of drilling in early October, focusing on the Jaclyn Main Zone and area east of and along strike of the Jaclyn North Zone, including areas of high grade gold bearing quartz boulders.

To view Map 1, please click the following link:
https://www.accesswire.com/uploads/GA1.png

  • To view Map 2, please click the following link:
    https://www.accesswire.com/uploads/GA2.png

    Phase I drilling will include the Jaclyn Main Zone, located in the northern region of the property. Most of the historic work was conducted at the Jaclyn Main Zone. A National Instrument 43-101 compliant inferred resource of 921,000 tonnes at an average grade of 3.02 g/t Au (89,500 ounces contained gold) was reported in 2008 for the Jaclyn Main Zone. Gold recovery from a reported 2,241 tonne bulk sample collected in 2010 at the Jaclyn Main Zone was reported to average 4.47 g/t Au. The average tails grade for the sample was reported to be 1.12 g/t Au. A “back-calculated head grade of 5.59 g/t Au” was reported for the bulk sample. The Jaclyn Main Zone has been reportedly traced for a strike length of approximately 800 meters (northeast to east striking) through trenching and diamond drilling to approximately 420 meters vertical depth.

    To view Jaclyn Main Zone – 2010 Bulk Sample Area, please click the following link:
    https://www.accesswire.com/uploads/GA3resize.jpg

    The second area of focus during Phase I drilling is the Jaclyn North Zone, reported approximately 250 metres north of the Jaclyn Main Zone. Drill holes are planned to test the extension of Jaclyn North Zone along its projected strike to the east. Recent trenching in this area revealed thick overburden (predominantly greater than 3 or 4 metres in recent trenches). Gold bearing angular quartz bounders were discovered in till within these trenches including multiple high grade boulders in one trench approximately 260 meters east of the eastern-most historic Jaclyn North drill hole. Grab samples of boulders from this trench returned 31.96, 78.05, 163.99 and 332.67 g/t gold (9.7 oz./ton gold) (News Release of August 31, 2017). The area of this particular trench is a high priority target for the Company and will be tested during the Phase I drilling.

    The northeast striking Jaclyn North Zone has been reportedly traced by diamond drilling (13 holes) for approximately 450 meters and locally to a vertical depth of 175 meters. The zone is reported to contain 3 quartz veined sub-zones. Reported drill intersections include (core length):

    • GP03-32: 12.13 g/t Au / 0.35m & 12.30 g/t Au / 0.30m
    • GP07-76 (Upper Sub-zone): 11.28 g/t Au / 0.30m
    • GP06-51 (Middle Sub-zone): 5.24 g/t Au / 1.70
    • GP06-47 (Lower Sub-zone): 15.23 g/t Au / 0.30m
    • GP10-103: 6.19 g/t Au / 0.35m

    To view Map 3, please click the following link:
    https://www.accesswire.com/uploads/GA4.png

    The 2008 NI 43-101 Technical Report states the style of veining, mineralization, alteration, host rock and tectonism at Golden Promise most closely resembles other turbidite-hosted (or slate belt) gold deposits throughout the world.

    Access is excellent with a paved provincial highway transecting the property. The property is located near the town of Badger and approximately 50 kilometres northeast of the Valentine Lake Property of Marathon Gold Corp.

    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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Invested in Wellgreen Platinum $WG.ca ? Did you know New Age Metals $NAM.ca has Canada’s Largest Undeveloped Primary #PGM Resource

Posted by AGORACOM-JC at 12:10 PM on Tuesday, September 12th, 2017

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(NAM:TSXV)

Two Divisions: PGM and Lithium

  • PGM Division: focus on Development of the 100% owned River Valley PGM Project. Canada’s Largest Undeveloped Primary PGM Resource, with 2.5 Moz PGM, in Measured plus Indicated mineral resources.

River Valley PGM Project

  • Midway through 16,500ft drill program
  • Abitibi Geophysics has completed the final IP geophysical report
  • Drilling has been focused on follow-up drilling to further test the continuation of the Pine Zone and Dana North Zone
  • Further drilling will test the geophysical targets from the IP Survey

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Glacier Lake Receives Work Permit Approval for up to 10,000 Meters of Drilling on the Silver Vista Project

Posted by AGORACOM at 10:01 AM on Tuesday, September 12th, 2017

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  • Drill Permits cover 10,000m of drilling
  • Allows for up to 40 drill sites
  • Drilling targeting Silver & Copper mineralization

VANCOUVER, British Columbia, Sept. 12, 2017 (GLOBE NEWSWIRE) — Glacier Lake Resources Inc. (TSX-V:GLI) (“Glacier” or the “Company”) is pleased to announce that it has been granted permit approval by the British Columbia Ministry of Energy and Mines for drilling and trenching activities on the company’s flagship Silver Vista copper-silver project, located near Smithers, British Columbia. The Mines Act Permit (MX-1-987) allows for up to 40 drill sites, 10,000 meters of drilling and 10 trench/pit sites, over a 5 (five) year period. The objective of the drilling program is to verify and expand the copper-silver mineralization intersected in the 1991 and 1992 historical drilling programs. Equity Silver Mines Limited completed fourteen drill holes (1992) totaling 1,252.5 metres. Equity identified a semi-continuous zone 300 metres long by 50 metres wide by 3 to 150 metres deep with two of the holes ending in mineralization. Key intercepts include: MR91-01 – 32.87 metres at 0.19% Cu and 34.8 gpt Ag, MR91-03 – 61.91 metres at 0.11% Cu and 40.5 gpt Ag, MR91-04 – 25.9 metres at 0.08% Cu and 62.6 gpt Ag and MR92-02 – 36.58 metres at 0.49% Cu and 26.8 gpt Ag. Hole MR92-02 intersected a higher-grade intersection of 2.84 meters averaged 195.7 g/t Ag and 3.65 % Cu at a depth of 192.62 meters, and this represents the only deep hole to test this zone, and is a primary drill target for follow-up.

 

Glacier Lake Resources Inc. has yet to verify the Equity exploration date. Data verification is one of the primary objectives of this drilling program.

 

“We look forward to commencing the first drill program on the Silver Vista since 1992″ said Saf Dhillon, President and Chief Executive Officer. “The focus of this fall’s campaign will be to confirm and expand the higher-grade mineralization intersected in hole 92-02 and to test the potential of the large silver-in-soil geochemical anomaly, measuring 1.5 by 2.0 kilometers.”

 

Further details can be found in the recently completed 43-101 report on the property located under the Company’s SEDAR profile.

 

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo., a member of the Glacier Lake Advisory Board and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

Please visit our Website at: www.glacierlake.ca

 

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

 

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions.  There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.  We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

 

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

 

Saf Dhillon
President/CEO
Glacier Lake Resources Inc.
Tel: 866-687-7059
Dir: 604-688-2922
[email protected]

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Eloro $ELO.ca Resources receives drill permit at La Victoria $TTC.ca

Posted by AGORACOM-JC at 9:15 AM on Tuesday, September 12th, 2017

Image result for eloro resources

  • Received its permiso para inicio de las actividades de exploracion (drilling permit) 
  • Authorizes the drilling of up to 10 sites within the Rufina zone of the La Victoria gold/silver project, Pallasca province, Ancash department, Peru

ELORO RESOURCES RECEIVES DRILLING PERMIT FOR THE LA VICTORIA GOLD/SILVER PROJECT DRILL PROGRAM

Eloro Resources Ltd.’s wholly owned Peruvian subsidiary Compania Minera Eloro Peru SAC has received its permiso para inicio de las actividades de exploracion (drilling permit) that authorizes the drilling of up to 10 sites within the Rufina zone of the La Victoria gold/silver project, Pallasca province, Ancash department, Peru.

The Drilling Permit is the final requirement to obtain the water permit. The ANA (Peru Water Authority) has already carried out its Property inspection and is now reviewing Eloro’s application. In the meantime, field crews are now proceeding with preparation of the approved drill sites and carrying out improvements to the existing public trail system.

“We are delighted to be on the verge of drilling the La Victoria Gold/Silver Project’s Rufina zone”, said CEO Thomas G. Larsen, “This zone has never been drill-tested even though significant gold mineralization outcrops at surface. Our fall 2016 IP/Res survey identified a large spatially-correlated chargeability and resistivity area beneath the Rufina zone which also will be tested.”

Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Eloro commented: “Recent geological work indicates that the mineralized target zone in Victoria-Victoria South which is up to 200 metres wide extends south for at least 2 kilometres along strike and likely connects with the Rufina zone. This is part of an extensive multi-phase epithermal gold-silver mineralizing system on the La Victoria property centred around the Puca Fault and environs (see press release August 8, 2017). We plan to carry out an aggressive drill program at Rufina while at the same time proceeding with drill permit applications for the other major target areas.”

The Rufina zone is located within the district of Huandoval where Eloro has good social support. District authorities are also favourable to economic development in partnership with the mineral exploration industry. Eloro currently has 14 Huandoval employees working for the IP/Res survey operating within the new Victoria-Victoria South discovery area.

With the award of an option to earn 25% of the Property to EHR Resources Ltd (ASX:EHX) through its Peruvian subsidiary EHR del Peru S.A.C., Eloro is fully financed to carry out the drilling at Rufina. A contract has been signed with Energold Drilling Peru S.A.C., for up to 5000 metres of 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.”

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.

We seek Safe Harbor.

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Rising Electric Car Demand Powers #Lithium ETF #Tesla $NAM.ca $BFF.ca $LIT

Posted by AGORACOM-JC at 4:42 PM on Monday, September 11th, 2017
  • Growing popularity of electric-powered vehicles is fueling demand for lithium batteries and supporting the miners-related ETF
  • World is shifting toward electric vehicles and the industry is standardizing on lithium ion batteries, which could mean that we are going to need a lot more lithium than is currently be supplied

The Global X Lithium & Battery Tech ETF (NYSEArca: LIT), which tracks the full lithium cycle from mining and refining through batter production, surged 5.0% Monday on five times its average daily volume, according to Morningstar data. LIT has also been breaking new record highs, surging 40.8% year-to-date.

The world is shifting toward electric vehicles and the industry is standardizing on lithium ion batteries, which could mean that we are going to need a lot more lithium than is currently be supplied, writes Josh Brown, The Reformed Broker.

Over the past two years, fears of a lithium shortage has almost tripled prices for the metal to over $20,000 a ton due to a spike in the market for electric vehicles, and the demand for metals isn’t dissipating as electric car production is estimated to surge more than thirtyfold by 2030, Bloomberg reports.

While there is more thane enough lithium in the ground, the industry and infrastructure needed to extract the metal is still lacking. Battery makers will require more mines to support production and they will have ot build them much more quickly than previously thought.

Related: Rare Earth Metals ETF is Enjoying a Banner Year

According to BNEF, Tianqi Lithium, SQM, Albermarle and FMC, the producers that dominate the space, will need to extract enough lithium to supply the equivalent of 35 Tesla Gigafactories now being built in Nevada. Research Sanford C. Bernstein & Co. projects total investments to supply these new batters will range from $350 billion to $750 billion.

The Global X  Lithium & Battery Tech ETF, tries to reflect the performance of the Solactive Global Lithium Index, which is comprised of a number of global lithium producing companies and lithium battery producers, like FMC 25.1%, Quimica Y Minera 17.1%, Samsung SDI Co. 6.6% and Tesla Motors 5.6%. Top country weights include U.S. 41.2%, Chile 13.8%, South Korea 13.6%, Japan 8.9% and Australia 6.8%.

Source: https://www.etftrends.com/rising-electric-car-demand-powers-lithium-etf/

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Invested in Canadian Solar $CSIQ ? $HPQ.ca continues to make great strides through purification for production of Solar Grade Silicon Metal

Posted by AGORACOM-JC at 4:25 PM on Monday, September 11th, 2017
Hpq large

Scaling Up Milestones; 62% Increase in Impurity Removal Using Low Purity Feedstock; 531% Conversion Yield Increase

  • New stage report entitled “Update on The PUREVAPtm Process Characterization Testing #2” pertaining to tests completed (26/01/17).
  • Objectives of test #37 to #74 was increasing Si yield at lab scale by continuously improving process parameter and implementing alternative purification routes while still using low purity feed stock
  • Salient points of the report are significant in that they validate systematic and methodical approach to bench scale test purification work and scaling up our process of converting quartz into high purity silicon metal

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Opawica Explorations Inc. $OPW.ca Announces Appointment of Mr. David Taylor as President, CEO and Director

Posted by AGORACOM-JC at 10:04 AM on Monday, September 11th, 2017

Opw

  • Announces the appointment of Mr. David Taylor as President, Chief Executive Officer and a Director of the Company

Vancouver, British Columbia–(September 11, 2017) – Opawica Explorations Inc. (TSXV: OPW) (the “Company”) announces the appointment of Mr. David Taylor as President, Chief Executive Officer and a Director of the Company.

Mr. Taylor has over 25 years experience in financial markets in Asia, the USA and Canada. His experience includes securing finance personnel in Tokyo and the recruiting of executives for firms such as Morgan Stanley, JP Morgan, Credit Suisse and Goldman Sachs.

He has held positions with Thomson Reuters (Tokyo) in marketing US software products to clients such as The Bank of Japan, LTCM (Tokyo), and Bank of Tokyo-Mitsubishi, as well as Private Equity benchmarking contract with the Japanese government, Ministry of Economy, Trade and Industry.

Mr. Taylor has worked in San Francisco, CA, where he managed relationships with Private Equity Firms in the Western USA, focused on Californian Venture Capitalists. In 1996, Mr. Taylor and his team launched the first Venture Capital database for the US National Venture Capital Association (NVCA), and he was instrumental in the research and coordination of clients such as Intel Capital, In-Q-Tel, Accel Partners, Kleiner Perkins, and Microsoft Ventures.

Mr. Taylor was a member of a boutique provider of alternative asset management applications for domestic and international institutions and family offices. His clients included the Rockefeller Foundation, CALPERS, CALSTERS, UTIMCO, Princeton University, Stanford University, Cascade Investments (Bill and Melinda Gates Foundation), MSD Capital (Michael Dell), Mousse Capital (Chanel Family) and the Hewlett Foundation.

In 2007, Mr. Taylor founded a financial advisory service which evolved into an Exempt Market Dealer (EMD), one of the first in British Columbia. Using this EMD platform he conducted financings and marketing Canadian junior companies in the resource and technology sectors. He holds a BBA in Business Administration from Simon Fraser University.

Mr. Ferdynand (Fred) Kiernicki has resigned as President and Chief Executive Officer but will remain as a director and exploration contractor of the Company.

The Company has allocated 1,019,000 incentive stock options to directors and consultants of the Company that are exercisable at $0.07 per share for a one year term, in accordance with the Company’s stock option plan.

PRIVATE PLACEMENT

Pursuant to the Company’s proposed private placement to raise gross proceeds of up to $1,200,000 that was announced on August 15, 2017, the Company announces an amendment to the allocation of units proposed to be issued. The Company proposes to raise up to $800,000 through the sale of up to 16,000,000 non flow-through units priced at $0.05 (the “NFT Units”) and up to $400,000 through the sale of up to 5,000,000 flow-through units priced at $0.08 (the “FT Units”). Each NFT Unit consists of one common share and one half of a share purchase warrant, with each whole warrant (the “Warrant”) exercisable into one further common share at a price of $0.10 for a term of one year. Each FT Unit consists of one flow-through common share and one half of a share purchase warrant, with each whole Warrant exercisable into one further common share at a price of $0.10 for a term of one year.

The Warrants will contain an accelerated expiry clause such that, in circumstances where the closing price of the shares of the Company on the TSX Venture Exchange is $0.15 or greater for a 20 day consecutive trading period, they will expire if not exercised 14 days following the 20 day trading period. The accelerated expiry clause will be in effect after the initial four month hold period has elapsed.

ABOUT OPAWICA EXPLORATIONS INC.

Opawica Explorations Inc. is a junior resource company engaged in the acquisition, exploration and evaluation of gold and base metal mineral properties in Canada. The Company owns 100% interest subject to certain royalties in the Bazooka gold property located in the Beauchastel Township approximately seven kilometres southwest of Rouyn-Noranda, Quebec. The Bazooka property comprises seven contiguous kilometres of strike length along the prolific Abitibi Gold Belt on the Cadillac Larder Lake Break. The eastern border of the Bazooka gold property adjoins Yorbeau Resources Inc.’s (“Yorbeau”) Rouyn property that is actively being explored by Kinross Gold Corporation under an option agreement (see Yorbeau press release dated October 25, 2016). The western border of the Bazooka gold property adjoins Richmont Mines Inc.’s Wasamac gold property (~3 million ozs Au resources). The Company also holds 100% interest in the McWatters gold property which is contiguous to the eastern border of Yorbeau’s Rouyn property, and the Arrowhead gold property in the Joannes Township, Quebec.

For more information, please visit the Company’s website at www.opawica.com.

FOR FURTHER INFORMATION CONTACT:

David Taylor
President and Chief Executive Officer
Opawica Explorations Inc.
Mobile: 778-318-8186
Email: [email protected]

Head Office
Telephone: 604-681-3170
Fax: 604-681-3552

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

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BREAKING NEWS – Monarques Gold $MQR.ca Enters Into a Definitive Agreement to Acquire All the Mining Assets of Richmont Mines $RIC in the Province of Quebec

Posted by AGORACOM-JC at 7:24 AM on Monday, September 11th, 2017

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This transformative transaction will position Monarques to become a gold producer

Highlights of the main transaction

  • Monarques will acquire all of Richmont’s mining assets, properties and claims in Quebec.
  • Monarques will become the owner and operator of the Beaufor mine and the Camflo mill.
  • Monarques to retain Richmont’s highly experienced Quebec-based site teams.
  • Richmont will hold a 19.9% interest in the Corporation, inclusive of a $2.0 million investment by Richmont.

Other related transactions

  • Monarques has completed a subscription receipt offering of $6,525,251 of a maximum of $10,000,000 with investors that include Richmont ($2.0 million), the Fonds de solidarité FTQ ($1.0 million) and Probe Metals ($0.6 million).
  • Monarques has entered into a US $4 million credit facility with Auramet International LLC.
  • Following the closing of the transaction with Richmont, Monarques will divest the Courvan property to Probe Metals for $400,000 in cash.

Monarques’ profile after the transaction

  • 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.

MONTREAL, Sept. 11, 2017 /PRNewswire/ - MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to announce that it has entered into a definitive agreement with Richmont Mines Inc. (“Richmont”) (TSX – NYSE: RIC) pursuant to which Monarques will acquire all of Richmont’s mining assets in Québec (the “Transaction”).  The assets acquired consist of all of Richmont’s mineral claims, mining leases and mining concessions, including the Beaufor mine, the Chimo , Monique and Wasamac properties and all the issued and outstanding shares of Usine Camflo Inc., as well as all mills, buildings, structures, equipment, inventory and property.

In consideration, Monarques will issue a number of shares equating to 19.9% of its undiluted issued and outstanding common shares. The number of shares will be calculated immediately following the closing of the Transaction and will include the shares issued in connection with the private placement of subscription receipts subscribed to by Richmont.

In addition, Monarques will assume responsibility for the future amount payable to the Ministry of Energy and Natural Resources for the Beaufor mine, Camflo mill and Monique mine rehabilitation plans, estimated at approximately $5 million, should the facilities be closed.

Lastly, the following net smelter return royalties will be payable by Monarques to Richmont:

  • 1.5% for the Wasamac property, of which 0.5% can be bought back for $7.5 million;
  • 1.0% on Richmont’s claims in the Camflo property; and
  • 1.0% on the Beaufor property once Monarques has produced 100,000 ounces of gold, subsequent to the close of the Transaction.

Monarques reserve and resource estimates post-transaction*

December 31, 2016

Tonnes
(metric)

Grade
(g/t Au)

Ounces

Beaufor Mine1

Proven Reserves

32,000

6.77

7,010

Probable Reserves

171,500

6.87

37,910

Total Proven & Probable Reserves

203,500

6.86

44,920

Measured Resources

53,000

6.27

10,700

Indicated Resources

300,000

7.57

73,000

Total Measured & Indicated Resources

353,000

7.37

83,700

Inferred Resources

36,000

6.44

7,500

Croinor Gold Mine2

Proven Reserves

68,625

6.25

13,789

Probable Reserves

472,909

6.85

104,081

Total Proven & Probable Reserves

541,534

6.77

117,870

Measured Resources

80,100

8.44

21,700

Indicated Resources

724,500

9.20

214,300

Total Measured & Indicated Resources

804,600

9.12

236,000

Inferred Resources

160,800

7.42

38,400

Simkar Gold property3

Measured Resources

33,570

4.71

5,079

Indicated Resources

208,470

5.66

37,905

Total Measured & Indicated Resources

242,040

5.52

42,984

Inferred Resources

98,320

6.36

20,103

Wasamac property1

Measured Resources

3,124,500

2.75

276,550

Indicated Resources

12,127,000

2.89

1,125,700

Total Measured & Indicated Resources

15,251,500

2.86

1,402,250

Inferred Resources

18,759,000

2.66

1,605,400

TOTAL

Proven & Probable Reserves

162,790

Measured & Indicated Resources

1,764,934

Inferred Resources

1,671,403

* Transaction includes the Monique property which has historical resources of 107,500 tonnes at 4.88 g/t Au.

1 Source: Richmont 2016 annual report

2 Source: Monarques prefeasibility study (October 7, 2014) and resource estimate (November 6, 2015)

3  Source: MRB et Associés (January 2015)

 

Related transactions

1) $6,525,251 million private placement of subscription receipts

Monarques has closed a non-brokered private placement of 15,786,431 subscription receipts (the “receipts”) priced at $0.35 each for gross proceeds of $6,525,251. Each receipt will be exchangeable without further consideration or action for one common share of the Corporation at the close of the Transaction. Richmont subscribed for $2.0 million of receipts, the Fonds de solidarité FTQ subscribed for $1.0 million and Probe Metals Inc. (“Probe Metals”) subscribed for $0.6 million.

The receipts and underlying securities issued pursuant to the private placement will be subject to a hold period of four months and one day. Richmont’s interest in Monarques will also be subject to a one-year lock-up provision.

The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As at May 31, 2017, the organization had $13.1 billion in net assets, and through its current portfolio of investments has helped create and protect 186,440 jobs. The Fonds is a partner in more than 2,700 companies and has 645,664 shareholder-savers. Please visit fondsftq.com for more information.

2) US $4 million credit facility with Auramet International LLC

Monarques intends to close a senior secured gold loan agreement with Auramet International LLC providing the Corporation with access to a US $4 million credit facility. Auramet and Monarques have entered into a definitive Term Sheet, due diligence has been completed and the parties are currently documenting the loan. The loan will be repaid in 12 installments of ounces of gold commencing on October 31, 2017, and expiring on September 30, 2018, inclusive. The total number of ounces will be calculated based on the gold price at the closing of the agreement. The loan will be guaranteed by the Corporation’s subsidiaries, namely X-Ore Resources, Beacon Gold Mill Inc. and Camflo Mill Inc.

3) Sale of the Courvan property to Probe Metals

Finally, the Corporation has signed an agreement with Probe Metals which will see Monarques sell its full interest in the Courvan property in consideration for a cash payment of $400,000. This transaction will be completed following the close of the Transaction with Richmont.

“This transformative transaction is a major milestone for Monarques, positioning the Company to achieve the coveted status of gold producer,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “We are very pleased to have Richmont as a significant shareholder, and we look forward to benefitting from their long history and experience as a successful underground gold miner. We are also extremely pleased to welcome Monarques’ 150 future employees, with whom we look forward to having a successful and rewarding relationship with. Monarques will have a much larger profile following the transaction, with a strong portfolio of mining assets in the Abitibi that includes the Beaufor Mine, the Camflo and Beacon mills, the Wasamac and Croinor Gold advanced projects, and eight other high-quality exploration projects. Furthermore, we will be well positioned financially to move forward with expanding our gold production and developing our mineral resources for the benefit of our shareholders.”

These transactions are expected to close on or about September 30, 2017, and are subject to customary closing conditions, including regulatory and government approvals.

The technical and scientific content of this press release has been reviewed and approved by Kenneth Williamson, M.Sc., P.Geo, the Corporation’s qualified person under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation is an emerging gold producer aiming to achieve ongoing growth through its large portfolio of high-quality gold projects in the Abitibi region of Quebec, Canada. The Corporation currently has approximately 200 km² of  properties (see map) along the Cadillac Break, as well as its main asset, the Croinor Gold mine, which has great potential to become a producing mine. Monarques Gold is well financed and has close to $9 million in credits from Quebec’s Ministry of Energy and Natural Resources.

(Watch our Corporate Video)

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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Posted in All Recent Posts, Featured, Monarques Gold | Comments Off on BREAKING NEWS – Monarques Gold $MQR.ca Enters Into a Definitive Agreement to Acquire All the Mining Assets of Richmont Mines $RIC in the Province of Quebec

INTERVIEW: Artificial Intelligence Meets Mineral Exploration – MUST WATCH! $IDK.ca $SII.ca #Gold #Mining #ArtificialIntelligence

Posted by AGORACOM-JC at 5:14 PM on Thursday, September 7th, 2017

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Posted in All Recent Posts, Featured, ThreeD, ThreeD Capital | Comments Off on INTERVIEW: Artificial Intelligence Meets Mineral Exploration – MUST WATCH! $IDK.ca $SII.ca #Gold #Mining #ArtificialIntelligence

Seabridge Gold $SA $SEA.ca Just Announced Excellent Results Next to American Creek’s $AMK.ca Treaty Creek JV Project in B.C.’s Golden Triangle #Gold

Posted by AGORACOM-JC at 11:14 AM on Thursday, September 7th, 2017

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  • B.C.’s Golden Triangle proven to host one of the greatest concentrations of metal value on the planet Wwith over 83.7million ounces gold, 627.8 million ounces silver and 38.8 billion pounds copper so far (all categories)
  • That’s just in its southern half which also hosts the Brucejack Mine (Pretivm) which started its production of 8.1 million ounces @ 16.1g/t

B.C.’s Golden Triangle is fast becoming one the richest areas of discovery in the world. The Crown Jewel of the Golden Triangle is a hydrothermal system (one of the seven largest in the world) that has proven to host one of the greatest concentrations of metal value on the planet with over 83.7million ounces gold, 627.8 million ounces silver and 38.8 billion pounds copper so far (all categories). That’s just in its southern half which also hosts the Brucejack Mine (Pretivm) which started its production of 8.1 million ounces @ 16.1g/t in May 2017 and the KSM (Seabridge) which contains the largest undeveloped gold deposit in the world by reserves – 38.8 million ounces gold with 10.2 billion pounds of copper.

American Creek’s Treaty Creek property covers the northern half of the hydrothermal system; and the geology,geophysics, and exploration results all indicate the potential to host a continuation of the mineralization already proven the southern half.

Yesterday Seabridge Gold announced the first round of diamond drill assays from their 2017 KSM exploration which were the best drill results they’ve had yet. How do these results have the potential to not only be a game-changer for the KSM, but for the extensive drill program currently on the Treaty Creek property?

CLICK HERE TO FIND OUT.

Note: This is not a press release but discusses the implications of the Sept 6, 2017 press release of Seabridge Gold Ltd.

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Posted in All Recent Posts, American Creek Resources Ltd., Featured | Comments Off on Seabridge Gold $SA $SEA.ca Just Announced Excellent Results Next to American Creek’s $AMK.ca Treaty Creek JV Project in B.C.’s Golden Triangle #Gold

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