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KWG Shareholders Approve Multi-Voting Share $KWG.ca

Posted by AGORACOM-JC at 1:23 PM on Thursday, August 18th, 2016

Kwglarge

  • Reconvened to vote on a Special Resolution seeking authority to create (by conversion of common shares for holders electing to do so) multiple voting shares re-convertible into their constituent common shares
  • When the adjourned meeting was reconvened this morning 401 million shares were represented by proxy and 363 million of these were instructed to vote in favour of the Special Resolution. The holders of 115 million shares attended the meeting and voted in favour of the Special Resolution.

TORONTO, ONTARIO–(Aug. 18, 2016) – The shareholders of KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6) (“KWG”) concluded their Annual and Special General Meeting this morning when it was reconvened to vote on a Special Resolution seeking authority to create (by conversion of common shares for holders electing to do so) multiple voting shares re-convertible into their constituent common shares.

The meeting had been adjourned on July 21, 2016 prior to a vote on the resolution as only some 60% of the votes available to be cast at the meeting were then in favour. Of KWG’s 961 million outstanding shares, proxies for a total of 501 million shares were voted at that meeting and proxies representing 200 million shares were then instructed to be voted against the Special Resolution. The Company reported that its two largest shareholders, voting some 36% of the shares represented in person or by proxy at the meeting, had provided proxies that opposed the initiative which was overwhelmingly supported by the majority of KWG’s numerous individual shareholders. In the result, only some 60% of the votes available to be cast at the meeting were in favour and the meeting was adjourned without the Special Resolution having been put to a vote.

When the adjourned meeting was reconvened this morning 401 million shares were represented by proxy and 363 million of these were instructed to vote in favour of the Special Resolution. The holders of 115 million shares attended the meeting and voted in favour of the Special Resolution.

About KWG:

KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The filings have been receipted in each of those jurisdictions.

Shares issued and outstanding: 961,320,281

Bruce Hodgman
Vice-President
416-642-3575
[email protected]

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Pacific North West Capital (V.PFN) CEO outlines PGM portfolio potential $PFN.ca

Posted by AGORACOM-JC at 12:21 PM on Thursday, August 18th, 2016

  • PGMs to become ever more integral to our daily life
  • need for large domestic supplies will also become incredibly important as the world continues to define its geo-political boundaries

As we move forward into the 21st century with alternative energy traveling on smart grids servicing a variety of energy storage systems, PGMs will become ever more integral to our daily life. The need for large domestic supplies will also become incredibly important as the world continues to define its geo-political boundaries. It’s no wonder North American juniors are scrambling to put together the next big domestic PGM find. Pacific North West Capital (TSX: V.PFN, Forum) has built a robust and diverse portfolio of properties, which includes the company’s 100%-owned highly-prospective River Valley PGM project located in Northern Ontario. I sat down and spoke with Harry Barr, Chairman, CEO & Director of Pacific North West Capital, to get a closer look at the company, its assets and the potential it holds for investors. Have a listen.

http://www.stockhouse.com/news/newswire/2016/08/18/pacific-north-west-capital-v-pfn-ceo-outlines-pgm-portfolio-potential

–Gaalen Engen

Read more at http://www.stockhouse.com/news/newswire/2016/08/18/pacific-north-west-capital-v-pfn-ceo-outlines-pgm-portfolio-potential#mSXrIMSu5FH8okK2.99

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Pacific North West Capital Acquires 100% Interest in Eagle Pegmatite, SE Manitoba; Part of the Lithium Two Project $PFN.ca

Posted by AGORACOM-JC at 9:28 AM on Tuesday, August 16th, 2016

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  • Eagle Pegmatite acquired from Mustang Minerals Corp and added as a part of the Lithium Two Project
  • The Lithium Two Project is PFN’s 5th, 100% owned Hard Rock Lithium Project in Southeast Manitoba
  • The Eagle Pegmatite has a 1947 historic, is not 43-101 compliant, and has a resource calculation of 544,460 tonnes of Spodumene with an average content of 1.4% Li2O
  • Summer Surface Exploration planned for 2016 with follow-up drilling in 2017
  • The Company is currently negotiating with interested parties, regarding to Option/Joint Venture arrangements, on its 5, 100% owned Lithium Projects in Manitoba

Vancouver, BC / August 16, 2016 – Pacific North West Capital Corp. (“PFN”, the “Company”) (TSXV: PFN; FSE: P7J; OTCQB: PAWEF announces that it has acquired a 100% interest in Eagle Pegmatite, in SE Manitoba, from Mustang Minerals Corp. This Pegmatite will be a part of the new Lithium Two Project and held under PFN’s 100% owned subsidiary, Lithium Canada Development Inc.

-Eagle Pegmatite acquired from Mustang Minerals Corp and added as a part of the Lithium Two Project

-The Lithium Two Project is PFN’s 5th, 100% owned Hard Rock Lithium Project in Southeast Manitoba

-The Eagle Pegmatite has a 1947 historic, is not 43-101 compliant, and has a resource calculation of 544,460 tonnes of Spodumene with an average content of 1.4% Li2O

-Summer Surface Exploration planned for 2016 with follow-up drilling in 2017

-The Company is currently negotiating with interested parties, regarding to Option/Joint Venture arrangements, on its 5, 100% owned Lithium Projects in Manitoba

The Lithium Two Project is located approximately 145 kilometres (90 miles) NE of Winnipeg, Manitoba, Canada and 22 kilometres north of the Tanco Mine Site. It is a part of the Cat Lake portion of the Cat Lake – Winnipeg River Pegmatite Field. The Winnipeg River Pegmatite Field hosts the World-Class Tanco Pegmatite which has been mined since 1969.

The Lithium Two Project consists of one claim (CAT 3, MB 3903) of 137 hectares (3.4 acres) in size, which is situated north of Cat Lake. The option agreement from Mustang Minerals allows the company to acquire the adjacent ground, should mineralization continue, onto other Mustang claims. This Project has Excellent Access, with a major gravel covered provincial highway through the project area.

The Eagle Pegmatite has been reported to be exposed at surface as a series of lenticular Spodumene-bearing Dykes, over a distance of about 823 metres, with a general strike of 077? and a near vertical dip. Several companies have explored for Pegmatites in the region. In 1947, drilling of the Eagle Pegmatite estimated that there was 544,460 tonnes (600 000 tons) of Spodumene with an average content of 1.4% Li2O to a depth of 61 metres (200 feet). This is a historic estimation and is Non NI 43-101 compliant. It was also reported at that time, that structural controls on the mineralization suggested that the Eagle Pegmatite continued to depth.


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Lithium Two Project Location Map

The Eagle Pegmatite has a 1947 historic, is not 43-101 compliant, and has a resource calculation of 544,460 tonnes of Spodumene with an average content of 1.4% Li2O

A Surface, Phase One Exploration Program will be carried out during the fall of 2016. This program will consist of Mapping, Prospecting and Sampling of the known Pegmatites. Follow-up Drilling is planned for 2017.

The Lithium Two Project is Lithium Canada Development’s 5th Lithium Project in SE Manitoba. To date, the company has approximately 6,318 hectares (15,612 acres) of mineral claims, with Lithium Mineralization Potential in the Cat Lake-Winnipeg River Pegmatite Field.

As part of our Prospector Generator Model, the Company is currently negotiating with interested 3rd parties for possible Option/Joint Ventures and other Exploration Initiatives on the Company’s Lithium Projects in SE Manitoba.

About The Company’s Lithium Division

The Company’s new Lithium Division will focus on the Discovery, Acquisition, Exploration and Development of Lithium Projects in Canada. In the United States, the Company will use its wholly owned U.S.A subsidiary, to Acquire and Develop Projects in Active Mining Camps in Nevada, Arizona and California.

Management believes that these New Age Metals, Lithium, PGMs and Rare Earths, have robust macro trends with Surging Demands and Limited Supply. Going forward, this New Division will Explore for the minerals needed to fuel the demand for Energy Storage and other core 21st Century Technologies.

The Company has a growing portfolio of Lithium Projects. The Clayton Valley Forks Li Project in Nevada is a recent Lithium Brine Project Acquired by the Company (PFN News Releases April 25th, 2016 and May 9th, 2016). The Company also has Hard Rock Lithium projects in Canada (PFN News Releases April 21st, 2016, May 24th, 2016), July 5th, 2016 and July 21st, 2016) located in the Winnipeg River Pegmatite Field of SE Manitoba.

Lithium and Platinum Group Metal Prices have Improved Dramatically in recent months. Lithium Supplies remain in deficit, relative to their demand. Both Metals Groups are used for the expanding worldwide automobile industry (conventional and electric). In the case of PGMs, demand is increasing for Autocatalysts, a key component for reducing toxic emissions for automotive, gasoline and diesel engines. Regarding Lithium, there is an ever-increasing demand for batteries in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.

An aggressive 2016/17 Acquisition and Exploration Program is underway with the objective to have several projects at the drill ready stage, by early 2017.

About the Company’s Platinum Group Metals Division

Achievements to date and future plans for River Valley are outlined below as follows:

  1. 1.PFN currently has 100% ownership in the River Valley Project, subject to a 3% NSR, with Options to buy down;
  2. 2.Completed Exploration and Development Programs on the River Valley Property include more than 600 holes drilled since year 2000 and several mineral resource estimates and metallurgical studies;
  3. 3.Results for the current (2012) mineral resource estimate are below;
  4. 4.2015 Drill Program confirms New High Grade T2 Discovery


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  1. 5.Exploration and Development Plans outlined for 2016
  2. 6.Ongoing Strategic Partner search for River Valley Project
  3. 7.Results for the most recent Metallurgical Testwork Study are summarized below:

– Prepared by Tetra Tech (Wardrop)

– High Confidence: Measured plus Indicated = 72% of total

– Reported on PdEq basis: Pd=40% & Pt=20% of the payable metals

– Pd to Pt ratio = 2.5:1; Cu to Ni ratio = 3:1

– High Grade potential, particularly in the north part of River Valley deposit

– Resources under evaluation for development potential as open pit mining operation


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  1. 8.Results for the 2015 Discovery Drill Program on the T2 Target are as follows:

– Drill hole intercepts much higher than average grade of current mineral resource estimate

– Possible new mineralized zone at the north end of the River Valley Deposit

– Recent results show potential to take the River Valley PGM Project in a new direction

-More drilling required and field crews are currently ground-proofing the targets to better pinpoint Fall and Winter Drill Programs


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  1. 9. Exploration and Development Plans for 2016:

-Mineral Prospecting and Geological Mapping on surface

-Drill Programs targeted to add more higher grade

-Geological Interpretation and 2D/3D Modeling of all Drill and Surface results

-Application to the OPA’s Junior Exploration Assistance Program (JEAP) for 33% refund

of all Exploration Expenditures, up to $300,000.

-Ongoing Strategic Partner Search for River Valley

  1. 10.PFN has recently (News Release August 4th, 2016) acquired additional ground in the River Valley area from Mustang Minerals
  2. 11.Aggressive on-going Project Acquisition Program in North America, with Specific focus on the Sudbury Mining District and in Alaska

QUALIFIED PERSON

The contents contained herein that relates to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for Pacific Northwest Capital. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content.

On behalf of the Board of Directors

” Harry Barr ”

Harry Barr

Chairman and CEO

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.

Cautionary Note Regarding Forward Looking Statements:. This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

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American Creek Reports That Drilling Has Commenced at Treaty Creek $AMK.ca

Posted by AGORACOM-JC at 9:24 AM on Tuesday, August 16th, 2016

  • Tudor has now completed the previously announced Magnetotelluric survey,
  • Commenced drilling on the Treaty Creek Property
  • Located immediately adjacent to Seabridge Gold’s KSM project in the “Golden Triangle” of NW British Columbia 75km north of Stewart

CARDSTON, ALBERTA–(Aug. 16, 2016) – American Creek Resources Ltd. (TSX VENTURE:AMK) (“American Creek”) is pleased to report that its JV partner, Tudor Gold Corp. (TSX VENTURE:TUD) (“Tudor”) has now completed the previously announced Magnetotelluric survey (“MT survey”) and has commenced drilling on the Treaty Creek Property located immediately adjacent to Seabridge Gold’s KSM project in the “Golden Triangle” of NW British Columbia 75km north of Stewart.

The MT survey was conducted by Simcoe Geoscience Ltd. using the same geophysicist that designed, ran, and interpreted MT surveys on the adjacent KSM and Brucejack projects owned by Seabridge Gold and Pretivm Resources respectively. The Treaty Creek program utilized the same equipment and technology that has been used with great success on the adjoining properties. The survey is 3D and covers all the areas of known mineralization on the Treaty Creek property and will aid in revealing the extent of the existing MT anomalies in far greater detail, and potentially reveal new anomalies, giving Tudor the same type of insights that have contributed to the major discoveries on the Seabridge and Pretivm properties within the same hydrothermal system.

American Creek and Tudor recently entered into a joint venture agreement with Tudor holding a 60% interest and American Creek and Teuton Resources Corp. each holding 20% carried interests in the project. Tudor is the operator.

An updated link with more information regarding the MT survey and the Treaty Creek property can be found on the American Creek website homepage.

American Creek Resources Ltd. is a Canadian junior mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the Province of British Columbia, Canada.

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.

Kelvin Burton
403 752-4040
[email protected]
www.americancreek.com

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Durango Phase One Exploration Completed at Nemaska Properties $DGO.ca

Posted by AGORACOM-JC at 8:37 AM on Monday, August 15th, 2016

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  • Exploration team has completed its inaugural field exploration program on its group of properties near Nemaska
  • Program which included detailed mapping and sampling of the newly identified pegmatite outcrops and outcropping ridges on Durango’s Nemaska Whabouchi area properties

Vancouver, BC / August 15, 2016 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) announces that further to the news release of August 3, 2016, Durango’s exploration team has completed its inaugural field exploration program on its group of properties near Nemaska, Quebec.

Mr. Donald Theberge, P.Eng., M.B.A led the exploration program which included detailed mapping and sampling of the newly identified pegmatite outcrops and outcropping ridges on Durango’s Nemaska Whabouchi area properties. The helicopter assisted work program focused on reaching inaccessible areas to prioritize drill targets and was completed ahead of schedule thanks to the hard working exploration crew.

Previous work in 2011 outlined multiple pegmatite occurrences on Durango’s NMX East claims adjacent to Nemaska Lithium Inc. (TSX-NMX), and were evaluated for targets to be added to a drilling schedule. The program was successful in sampling the identified pegmatites and outcropping ridges which were not previously evaluated by any companies. A total of 87 grab samples were taken during the survey of the properties and the samples have been sent to ALS Minerals Laboratories in Val D’Or, Quebec. The geologists will supply information on the sampling program and issue a report on the work completed with correlating results as soon as they become available.

Marcy Kiesman, CEO of Durango, comments, “We would like to thank Nemaska Lithium Inc. for their hospitality and allowing our team to visit their impressive neighbouring Whabouchi property. We would also like to thank the people of the Cree First Nation of Nemaska for taking time to speak with us and providing us with a tour of the community. We are fortunate to be poised for discovery in an area teeming with activity.”

The technical contents of this release were approved by Mr. Donald Theberge P.Eng., M.B.A., a Qualified Person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.

About Durango

Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi mine, the Buckshot graphite property near the Miller Mine in Quebec, the Dianna Lake silver project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel corridor.

For further information on Durango, please refer to its SEDAR profile at www.sedar.com.

Marcy Kiesman, Chief Executive Officer

Telephone: 604.428.2900 or 604.339.2243

Facsimile: 888.266.3983

Email: [email protected]

Website: www.durangoresourcesinc.com

Forward-Looking Statements

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to the purchase, development, completion of Financing, commencement and completion of future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.

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 release.

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INTERVIEW: Explor Resources Discusses Flagship Property Hosting 609k oz Indicated 470K oz Inferred Gold $EXS.ca $TCK.ca

Posted by AGORACOM-JC at 8:16 AM on Tuesday, August 9th, 2016

  • NI 43-101 Resource: 609,000 oz Indicated
    470,000 oz Inferred Gold
  • 13 km from downtown Timmins
  • Property is 2.5 km, NE of West Timmins Mine
  • Model: Hollinger McIntyre Gold System: 30,000,000 oz. Au
  • Discovery Hole 10-30 : 9.22g/tonne over 11.0 meters
  • Optioned to Teck Resources
  • Teck to spend $12,000,000 to earn 70% interest

Hub On AGORACOM / Corporate Profile / Watch Interview

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KWG Files Notice of Sale From Control of Debut Diamonds $KWG.ca

Posted by AGORACOM-JC at 3:43 PM on Friday, August 5th, 2016

Kwglarge

  • Notice of Sale from Control with respect to all of its 144,630,000 common shares of affiliate Debut Diamonds Inc.
  • Notice provides that the shares will be sold either in whole or in part and either privately or through the facilities of the Canadian Securities Exchange stock market.

TORONTO, ONTARIO–(Aug. 5, 2016) – KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6) (“KWG”) has filed a Notice of Sale from Control with respect to all of its 144,630,000 common shares of affiliate Debut Diamonds Inc. (CSE: DDI) (“Debut”). The notice provides that the shares will be sold either in whole or in part and either privately or through the facilities of the Canadian Securities Exchange stock market.

About Debut:
Debut has both joint-ventured and wholly-owned diamond exploration properties that include the previously discovered MacFadyen and Good Friday kimberlite pipes within claims contiguous to the DeBeers claim block containing the Victor Diamond Mine. Debut also has an interest in the diamond bearing Kyle kimberlites about 100 kilometers to the west. See more at: http://www.debutdiamonds.com/docs/2015/01/debut-diamonds-inc-completes-private-placement-3/#sthash.CuirzLLh.dpuf

About KWG:
KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The filings have been receipted in each of those jurisdictions.

Shares issued and outstanding: 961,320,281

Bruce Hodgman
Vice-President
416-642-3575
[email protected]

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Eloro Resources and Tartisan Resources Announce Execution of Definitive Agreements for Eloro to Acquire a 100% interest in Tartisan’s La Victoria Polymetallic Property, Ancash, Peru $TTC.ca

Posted by AGORACOM-JC at 7:46 AM on Friday, August 5th, 2016

Tartisan_logo_copy

  • Announced the execution and delivery of a binding Purchase and Sale Agreement  with respect to the proposed purchase by Eloro
  • Property, currently consisting of 8 mineral concessions totalling approximately 35.9 km2 together with 3 mineral claims totalling 15 km2, is held by a Peruvian-based Tartisan subsidiary and is located in Huandoval District, Pallasca Province, Ancash Department, in the North-Central Mineral Belt of Peru

Toronto, Ontario – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro”) and Tartisan Resources Corp. (CSE:TTC) (“Tartisan”) are pleased to announce the execution and delivery of a binding Purchase and Sale Agreement (the “Agreement”) with respect to the proposed purchase by Eloro (the “Transaction”) of Tartisan’s 100% interest in La Victoria property (“La Victoria” or the “Property”) as previously announced on May 30, 2016. The Property, currently consisting of 8 mineral concessions totalling approximately 35.9 km2 together with 3 mineral claims totalling 15 km2, is held by a Peruvian-based Tartisan subsidiary and is located in Huandoval District, Pallasca Province, Ancash Department, in the North-Central Mineral Belt of Peru.

Pursuant to the terms of the Agreement and as consideration for the Property, Eloro has agreed to: i) issue 6 million common shares (the “Shares”) and 3,000,000 warrants (the “Warrants”) with limited transferability, ii) make staged cash payments totalling C$350,000, and iii) grant Tartisan a 2% royalty interest (the “Royalty”), half of which can be repurchased by Eloro for C$3 million to reduce the Royalty to 1%.

Transaction Highlights

  • Acquisition of Tartisan’s 100% interest in the Property (which is currently governed by the La Victoria Option and Joint Venture Agreement dated July 3, 2014 (the “Option and Joint Venture Agreement”), as amended) in consideration of: i) the issuance of 6,000,000 Shares and 3,000,000 Warrants of Eloro, ii) a cash payment of C$250,000 on the first closing, with a further payment of C$100,000 within nine months from the first closing (the San Markito mineral claim will not be transferred by Tartisan to Eloro until such time that the final C$100,000 payment is made). The Option and Joint Venture Agreement will be terminated upon completion of the Transaction.
  • Each Warrant will give Tartisan the right to purchase one Share of Eloro at a price of $0.40 for a period of three years after closing, subject to acceleration in certain circumstances.
  • All securities issued to Tartisan in the Transaction will be subject to a lock-up agreement whereby Tartisan will be restricted from transferring securities of Eloro for a period of 18 months following the closing date of the Transaction, subject to certain exceptions, and transfers subsequent to that period will be restricted for a period of four and one half years after the first closing will be subject to further restrictions whereby, should Tartisan wish to proceed with a disposition, it would be restricted to selling a maximum of 1 million Shares every six months and would agree to provide Eloro 45 days’ notice prior to any sale, during which time Eloro could identify a purchaser or purchasers for the Shares and would have the right of first refusal to place the Shares with such purchasers pursuant to the terms of a mutually agreeable sale.
  • Eloro will grant Tartisan a 2% Royalty on the Property, with a buy-down provision for one-half of the Royalty (to reduce the Royalty to 1%) on payment of C$3 million.
  • During a two-year term, Eloro will grant Tartisan a pre-emptive purchase right to participate in future Eloro financings to concurrently purchase such number of Eloro shares as would allow Tartisan to maintain the same beneficial ownership in aggregate, up to a maximum of 19.9%, as Tartisan owned immediately prior to the closing of the proposed financing.
  • For a four-year term, Tartisan will not vote its Shares of Eloro against any nominees to Eloro’s Board of Directors proposed by Eloro or vote against any resolutions supported by the Board of Directors of Eloro, subject to certain exceptions.

The Transaction would create a new “Control Person” in Eloro, pursuant to applicable securities legislation, as it is proposed that Eloro issue Tartisan 6 million Shares and 3 million Warrants (representing 22.4% of the Shares of Eloro on a non-diluted basis, and 30.2% of the Shares of Eloro on a partially-diluted basis, assuming the exercise of only the Warrants held by Tartisan). In accordance with the policies of the TSX Venture Exchange (“TSXV”), disinterested shareholder approval is required for the creation of a new Control Person.

The Transaction remains subject to several conditions, including: (i) the receipt of all necessary approvals, including the approval of the TSXV for Eloro; (ii) the completion of a National Instrument (“NI”) 43-101 Technical Report on La Victoria by Eloro; and (iii) shareholder approval from the shareholders of Eloro. Eloro will be making a submission to the TSXV in order to obtain conditional approval for the Transaction and will proceed with obtaining the required shareholder approval for the issuance of the securities pursuant to the Transaction. A NI 43-101 report on La Victoria is currently being drafted. Any securities to be issued by Eloro pursuant to the proposed Transaction would be subject to a 4-month hold period.

La Victoria Property, Peru

The La Victoria Property is free of royalties and consists of properties totalling eight mining concessions encompassing approximately 35.9 square kilometres together with 3 mineral claims totalling 15 square kilometres. The La Victoria Property is within 50 kilometres of several producing mines, with three producers visible from the Property. The Property has good infrastructure with road-access and nearby sources of water and electricity. It is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in northern Peru and western Quebec. Eloro recently announced its proposed acquisition of a 100% undivided interest in the La Victoria property, located in the prolific North-Central Mineral Belt of Peru. The La Victoria Property consists of properties totalling eight mining concessions encompassing approximately 35.9 square kilometres together with 3 mineral claims totalling 15 square kilometers. The Property is within 50 kilometres of several producing gold mines, with three producers visible from the property. Infrastructure in the area is good 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.

About Tartisan Resources Corp.

Tartisan is a mineral exploration and development company based in Toronto, Canada with an emphasis on properties in Peru. The company owns the La Victoria property located in the northern Ancash Department, Peru. La Victoria property is located within 50 km of several producing mines including: La Arena owned by Tahoe Resources, Lagunas Norte (Alto Chicama) owned by Barrick Gold Corporation (TSX:ABX) and Santa Rosa owned by Compañia Minera Aurífera Santa Rosa (COMARSA).

For further information please contact: Thomas G. Larsen, President and CEO of Eloro or Jorge Estepa, Vice-President of Eloro at (416) 868-9168 or Mark Appleby, CEO of Tartisan Resources at (416) 804-0280.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/TartisanAug52016.pdf

Source: Tartisan Resources Corp. (CSE:TTC)

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Explor Announces Ogden Property Diamond Drilling Results $EXS.ca

Posted by AGORACOM-JC at 5:11 PM on Thursday, August 4th, 2016

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  • 2.06 g/t Au over 1.50 meters from 154.5 to 156.0 meters.
  • 1.99 g/t Au over 1.80 meters from 438.0 to 439.8 meters.

ROUYN-NORANDA, QUEBEC–(Aug. 4, 2016) – Explor Resources Inc. (“Explor” or “the Corporation”) (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the results of the Diamond Drilling Program on the Corporation’s Ogden Gold Property. The property is located 12 kilometers southwest of the city of Timmins, Ontario. The property consists of 12 mining claims (96 mineral claim units) covering 1,540 hectares situated in the Porcupine mining division, district of Cochrane, in the Ogden and Price Townships, Ontario. These claims are contiguous to the east of the Corporation’s Timmins Porcupine West Property (the “TPW Property”). This preliminary program consisted of three sets of two holes each. East set was located with an approximate 2 kilometer spacing as shown on the attached plan.

The property has been previously explored by Hollinger Mines, Tex-Sol Exploration, Inmet Mining Corporation, Amax Mineral Exploration, Noranda Exploration and Knick Exploration. The majority of the holes drilled by previous operators were less than 100 meters in length. Historically on the Ogden Property, the only hole that hit significant mineralization was a diamond drill hole by Tex-Sol Exploration in 1965 which returned 6.0 g/t Au over 9.1 m at a shallow depth. Typically on the adjacent TPW Gold Property, higher grade mineralization was intersected below 300 meters of vertical depth requiring drill holes of 500 to 600 meters in length.

The most significant deposits in Timmins are spatially associated with porphyry units that are in proximity to the Porcupine Destor Fault. Also the deposits appear to be also associated with splay faults that trend off and to the North of the Porcupine Destor fault inside an interpreted splay fault corridor. Bearing that in mind, the preliminary exploration program consisted of six NQ holes for a total of 3,648 meters of diamond drilling. The holes averaged 600 meters in length. The preliminary goal of this Diamond Drill program was to test the IP Targets and to identify if the property contained favourable geology to host gold mineralization. The diamond drill program used geophysical targets identified by Explor’s ground geophysical survey as well as IP work conducted by Inmet and Knick Exploration. The program was successful in that all IP targets were intersected. The geological environment identified is very similar to the Corporation’s Timmins Porcupine West Property. As it was the case at TPW property, the rock type intersected included Quartz Feldspar Porphyry (QFP), Mafic Volcanics, and Sulfide zones containing fine grain pyrite mineralization.

The following results were obtained from this first drilling campaign:

Hole #OG-16-02 intersected 2.06 g/t Au over 1.50 meters from 154.5 to 156.0 meters.

Hole #OG-16-05 intersected 1.99 g/t Au over 1.80 meters from 438.0 to 439.8 meters.

Explor plans on analyzing the current results in context with the geological information obtained with this preliminary program and plans an exploration program for the fall/winter drilling season.

Assays are conducted on NQ sized half core sections. The diamond drill core is logged and sampled following general industry practices whereby logged and sample marked core is sawn in half, with one-half bagged and tagged for shipment to the assay laboratory and the remaining half of the sawn core returned to the core box for storage and future reference. Blanks and assay standards are inserted at regular intervals in each sample batch. Assays are conducted using a standard fire assay technique on a 30 gram sample with a gravimetric finish by Laboratoire Expert Inc., of Rouyn-Noranda, Quebec. Routine duplicates are completed by Laboratoire Expert inc. Pulps and rejects are returned and stored in secure containers. Intersections are reported using drilled widths unless specified otherwise, with assay values as simple averages of duplicates and gravimetric results.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: “We are extremely pleased and encouraged by these preliminary drill results and the confirmation of the potential of the gold bearing environment. This drilling campaign indicates to us that this large property block could potentially host a major gold deposit, and merits further exploration.”

Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

This Press Release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Québec with approximately 33% in Ontario and 67% in Québec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.

Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Limited is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:
Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)
Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:
Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
Inferred: 393,000 oz (5,185,000 tonnes at 2.36 g/t Au)

This document may contain forward-looking statements relating to Explor’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

A map is available at the following address: http://media3.marketwire.com/docs/1064935.pdf

Explor Resources Inc.
Christian Dupont
President
819-797-6050
888-997-4630 or 819-797-4630
www.explorresources.com
[email protected]

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CLIENT FEATURE: Explor Resources (EXS: TSX-V) 609K oz Indicated / 470K oz Inferred Gold $EXS.ca

Posted by AGORACOM-JC at 4:30 PM on Thursday, August 4th, 2016

Why Explor Resources?

  • Flagship Property Offers The Following:
  • NI 43-101 Resource – 609,000 oz Indicated / 470,000 Inferred
  • Teck Resources To Spend $12 MILLION To Earn 70%
  • Property Is 2.5 KM From Lake Shore Gold Mine
  • Property Is 13 KM From Downtown Timmins
  • 2nd Project 43-101 Open Pit Resource
  • 1.4 MILLION T Indicated @ 1.38% Copper
  • 2.09 MILLION T Inferred @ 1.26% Copper

ONTARIO AND NEW BRUNSWICK PROPERTIES CURRENTLY UNDER EXPLORATION

Timmins Porcupine West (TPW) (4300 ha)

  • NI 43-101 Resource: 609,000 oz Indicated
    470,000 oz Inferred Gold
  • 13 km from downtown Timmins
  • Property is 2.5 km, NE of LSG West Timmins Mine
  • Model: Hollinger McIntyre Gold System: 30,000,000 oz. Au
  • Discovery Hole 10-30 : 9.22g/tonne over 11.0 meters
  • Optioned to Teck Resources
  • Teck to spend $12,000,000 to earn 70% interest

Chester Copper & VMS Project (3500ha)

  • Mineral Target: Cu, Pb, Zn, Ag, & Au
  • 70 km SW of Bathurst NB
  • Structural Model Complete
  • 300 m wide x 2000m long mineralized Corridor identified
  • Ramp to ore zone (480 meter long (3m x 4m)
  • Optioned to Brunswick Resources (BRU)
  • Brunswick to spend $500,000 over 3 years
  • Explore to receive $40,000 and 5,000,000 shares of BRU
  • Open pit resource – NI 43-101 Resource: 1,400,000 Indicated t @ 1.38% Cu
    2,089,000 Inferred t @ 1.26 % Cu


Kidd Creek Project (2466 ha)

  • Mineral Target: Cu-Zn Ore
  • Located 1.0 km west of Kidd Creek Mine
  • Kidd Mine yielded 130M tonnes of Cu-Zn Ore since 1960
  • Numerous Geophysical max/min and IP Targets
  • Diamond Drilling winter 2015/2016

QUEBEC PROPERTIES CURRENTLY UNDER EXPLORATION

East Bay (3203 ha):

  • Mineral Target: Gold
  • Lies on Porcupine Destor Fault Zone, on strike with Beattie & Donchester mine
  • Historical channel samples by Lacana Mining in 1982 including: 0.81 oz/ton over 5ft; 0.16 oz/ton over 6 ft; 0.10 oz/ton over 10 ft
  • Wrap around Clifton Star

Nelligan (1198 ha):

  • Mineral Target: Nickel
  • Located in Val d’Or mining district of Quebec
  • Historical grab samples of 10% Ni and 0.6% Cu obtained by INCO
  • Discovered anomalous Nickel, Copper Zones

Launay (2250 ha):

  • Mineral Target: Nickel
  • Mineralized zones contained in mafic volcanic rocks
  • Contiguous to Royal Nickel’s Dumont property (NW end)

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