Falcon Gold Corp. (TSXV:FG), (GR:3FA), (OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce the appointment of Glayton Dias as Exploration Manager for our British Columbia and South America portfolio
Mr. Dias is a geologist with 12 years experience both domestically and internationally, developing managing and exploring mineral deposits from early-stage to mine development and 3D ore estimation. Most recently his work has been focused on the Spences Bridge Gold Belt, having been posted as a project manager for the Shovelnose Deposit currently developed by Westhaven Resources with a resource of 791,000 ounces of gold and 3,894,000 ounces of silver Indicated (Reference below). Prior to being a Project Manager for Westhaven he worked as a consulting geologist for Ximen Resources on its multi-metallic Treasure Mountain deposit, Exploration Manager for Avant and Gdgeo, leading projects in world-class deposits as Andrade (Arcelor Mittal), Germano (Samarco) and Serra das Eguas (Magnesita SA).
Mr. Dias knowledge and experience in precious and base metal projects on high-grade epithermal low sulfidation including porphyry copper-gold geology, will be value add as we start up operations again at both Spitfire-Sunny Boy, Gaspard projects in B.C., and our South America projects.
Reference: https://www.westhavengold.com/projects/shovelnose-gold/details/
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
CONTACT INFORMATION: Falcon Gold Corp. "Karim Rayani" Karim Rayani Chief Executive Officer, Director Email: info@falcongold.ca
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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.
News Provided by ACCESSWIRE via QuoteMedia
Ontario has always been a premier jurisdiction for mining in Canada. However, one of Ontario’s earliest gold camps in the province’s northwestern region is showing signs of high-grade revitalization.
The town of Atikokan in Ontario is known for its two massive iron ore pits mined in the middle of the Second World War and operated until the late 1970s. The earliest gold exploration dates back to the 1800s, with significant production reaching upwards of approximately 52,000 ounces of gold and 174,000 ounces of silver in that period. With over 50 occurrences, prospects and producers of gold since Atikokan’s initial discovery, the gold camp boasts exploration potential for investors worldwide.
One such mining exploration company with a project in Atikokan is Falcon Gold Corp. (TSXV:FG,FWB:3FA,OTCQB:FGLDF). Its flagship Central Canada gold & polymetallic project leverages strategic positioning 20 kilometers east of Agnico Eagle’s Hammond Reef gold deposit. The world-class deposit currently has an estimated 3.32 million ounces of gold mineral reserves at 0.84g/t gold grading and an indicated mineral resource at 2.3 million ounces. The Central Canada project has a high potential to mimic this exceptional high-grade gold mineralization with further exploration and discovery.
In July 2020, Falcon acquired an additional 7,477 hectares of mineral claims consisting of 369 units in the highly operational Atikokan-based gold camp, expanding its three main property claims in the surrounding area. The Hammond Reef gold property on Central Canada lies on the Hammond shear zone, a northeast-trending splay off of the Quetico Fault Zone (QFZ). The flagship project’s other original Central Canada property lies on a similar major northeast-trending splay of the QFZ.
The company’s portfolio of mineral projects also include ones in prolific mining jurisdictions of Ontario, British Columbia and Argentina. In April 2021, Falcon created the Argentina-based Falcon Gold LatamARG S.A. to manage its South American exploration and development operations. This creation comes at an optimal time with the recent acquisition of the company’s Esperanza gold-silver-copper project in La Rioja, Argentina. Falcon intends to explore further interests in South America’s mining-friendly jurisdictions.
Future plans for the company include additional exploration and development of its mineral assets. It has already begun its 2021 work program on the Central Canada gold project, with initial activities focusing on the outcrop exposures and trench areas where Falcon’s geological team will be conducting detailed structural mapping. Expansive development of its Esperanza project in Argentina and 230,000-ounce historical resource validation is also in the works.
The Falcon Gold management team comprises mining and mineral exploration heavyweights, including CEO & director Karim Rayani and corporate advisor R. Stuart “Tookie” Angus. Angus brings unparalleled expertise as an independent business advisor to the mining industry and senior executive for several notable holdings companies. Together, the team primes Falcon for outstanding gold discovery and economic growth.
The flagship Central Canada gold & polymetallic project consists of three key claims: the original Central Canada property and Hammond South and Hammond West properties. The total area spans 10,392 hectares over a historic producer with shaft and mill site capabilities and sits 21.5 kilometers each of Atikokan and 160 kilometers west of Thunder Bay. The project is accessible via highway and road access and leverages mining-friendly conditions.
Central Canada has two geological regimes. Its Northern claims contain a greenstone rock underlay dating back to the Archean age. The Southern claims of the property are covered by Sapawe Lake and underlain by iron formation and greenstone rock units that host Falcon’s gold and cobalt occurrences. Historical drill intersection results highlight mineral grades upwards of 0.64 percent copper, 0.15 percent cobalt, 1.1 percent zinc and 0.35g/t gold over a true width of 40 meters.
Falcon has conducted an extensive 17-hole drilling program totaling 2,942.5 meters of core. Every hole successfully intersected a highly altered felsic porphyry rock unit with significant pyrite, arsenopyrite, lead telluride and visible gold mineralization. The company expects to complete more concrete resource calculations and use sampling and logging results to undergo fire assay gold analysis to assess the project’s full potential.
The Camping Lake property consists of five claims comprising approximately 2,250 hectares in the Red Lake mining district in Northwestern Ontario. The property leverages strategic proximity to Great Bear Resources, which recently reported high-grade gold discoveries. International Montoro Resources (TSX-V:IMT) has an option to earn a 51 percent interest in the Camping Lake property.
Historical exploration on the property includes petrographic studies; diamond drilling; rock, soil and lake sediment samples; IP/Ground Geophysics and more. The first phase of the Camping Lake 2020 exploration program consists of approximately 20 -line kilometers of ground VLF/EM geophysics and soil geochemistry.
The Springpole West property spans 4,440 hectares strategically located within four kilometers of First Mining’ Springpole deposit northwest of Red Lake, Ontario. The asset comprises 197 claims containing 217 units and garners accessibility via floatplane, ATV trail and winter road. The property has the potential to mimic similarly impressive indicated resource estimates as First Mining, which stands at approximately 139.1 million tonnes at 1.04g/t gold and 5.4g/t silver.
The claims cover 13.5 kilometers of strike length along a gold-bearing silicified mafic volcanic – sedimentary rock contact and a major property-wide fault zone. Historical work has indicated significant gold and silver values on the surface and at depth. Likewise, historical grab samples have revealed exceptional mineralization with grades up to 8.38 percent zinc, 16g/t silver and 0.05g/t gold.
The Burton gold property consists of six patented and 16 unpatented mining claims covering approximately 356 hectares in Esther Township, Ontario. The property has advantageous positioning within the very actively explored Swayze Greenstone Belt renowned for hosting lode gold mines. The property also leverages close proximity to IAMGOLD Corp.’s Cote Lake deposit, which has an indicated resource of 35 million tonnes averaging 0.82g/t gold.
Historical diamond drill intercepts at Burton include 9.34g/t silver over an intersection length of 7.75 meters at the main Shaft zone and 12.47g/t silver over an intersection length of 3.13 meters at the East zone.
The Spitfire & Sunny Boy property spans 502 hectares in south-central British Columbia, 16 kilometers east of Merritt. The property boasts excellent infrastructure and access with narrow but high-grade veining and gold mineralization.
Sampling from 1974 revealed the main showing, Master Vein, hosted high-grade gold mineralization up to 1,433g/t gold. 2020 work program and channel samples have returned upwards of 122g/t gold over a meter and 59.8g/t gold over 2.2 meters. The asset has the potential to host additional vein structures downslope from the Master vein, which Falcon intends to explore in future development programs.
The Gaspard gold project comprises three mineral claims covering 3,955 hectares in the Clinton mining district of central British Columbia. The property has year-round access with a robust network of active logging roads and favorable positioning nearby Williams Lake’s regional supply center for mining, logging and ranching.
The property is located approximately 26 kilometers south of the Blackdome gold mine project, which reportedly has indicated resources of 144,500 tonnes grading 11.29g/t gold and 50.01g/t silver. Gaspard has the potential to mimic this widespread mineralization and high-grade precious metal yield with its prospective anomalous grades of stream sediment samples.
Falcon’s ERZA property consists of ten mineral concessions spanning an aggregate area of 11,768 hectares. The large land package leverages good road accessibility and great resource networks with close proximity to the town of Chepes within the Sierra de Las Minas district of La Rioja. Argentina.
The first discovery of high-grade gold mineralization occurred in 1865 at the Callanan occurrences, followed by limited mining conducted on a gold, silver and copper zone. Falcon intends to continue validating the historical workings of Esperanza and exploring this very high-grade system.
For the past 15 years, Karim Rayani has focused on financing domestic and international mineral exploration and development. Most recently, Rayani was head of Bloomberry Capital Group, a Vancouver-based merchant bank and capital advisory firm. Prior, he worked independently as a management consultant and Financier. He is currently chair of R7 Capital Ventures Ltd; director of Fiber Crowne Manufacturing Inc., chair of District 1 Exploration Corp. Rayani has developed an extensive network of contacts throughout North America and Europe, focusing on Corporate Development and Finance.
Geoff Balderson has over 20 years of capital markets experience, having worked in public and private practice. Balderson is a senior officer and director of several TSX Venture listed companies and currently runs a private consulting practice Harmony Corporate Services Ltd., providing corporate advisory, accounting, filing and secretarial services to many publicly traded companies. Before, Balderson was an investment advisor at Union Securities and Georgia Pacific Securities and a University of British Columbia graduate in Marketing and Sales Management.
James Farley has been involved in the capital markets for over 25 years, initially as a financial advisor and subsequently as a private businessman. He is currently a business consultant for the mining and oil and gas industries, specializing in Health Safety and Environmental management.
John Bossio is a registered psychologist, having received a master of arts in counseling psychology from City University, Bellevue, Wash., in 2002 and a bachelor of science in family studies from the University of Alberta, Edmonton, in 1991. He is a member of both the Psychologists Association of Alberta and the College of Alberta Psychologists. Bossio is an avid investor and experienced board member. He has a network of contacts specializing in small-cap, publicly traded companies.
Stuart “Tookie” Angus is an independent business adviser to the mining industry and is presently chair of K92 and chair of San Marco Resources Inc. and Kenadyr Mining (Holdings) Corp. He is the former head of the global mining group for Fasken Martineau. For the past 40 years, Angus has focused on structuring and financing significant international exploration, development and mining ventures. More recently, he was managing director of mergers and acquisitions for Endeavour Financial and was responsible for merger and acquisition mandates.
Angus is the former chairman of the board of BC Sugar Refinery Ltd. He was a director of First Quantum Minerals Ltd. until June 2005, a director of Canico Resource Corp. until its takeover by Brazil’s CVRD in 2005, a director of Bema Gold Corp. until its takeover by Kinross Gold Corp. in 2007, a director of Ventana Gold Corp. until its takeover by AUX Canada Acquisition Inc. in 2011 and a director of Plutonic Power Corp. until its merger with Magma Energy Corp. in 2011. He resigned in 2017 as chair of Nevsun Resources Ltd. following its acquisition of Reservoir Minerals in 2017.
Glayton Dias is a geologist with 12 years experience both domestically and internationally, developing managing and exploring mineral deposits from early-stage to mine development and 3D ore estimation. Most recently his work has been focused on the Spences Bridge Gold Belt, having been posted as a project manager for the Shovelnose Deposit currently developed by Westhaven Resources with a resource of 791,000 ounces of gold and 3,894,000 ounces of silver Indicated (Reference below). Prior to being a Project Manager for Westhaven he worked as a consulting geologist for Ximen Resources on its multi-metallic Treasure Mountain deposit, Exploration Manager for Avant and Gdgeo, leading projects in world-class deposits as Andrade (Arcelor Mittal), Germano (Samarco) and Serra das Eguas (Magnesita SA).
Mr. Dias knowledge and experience in precious and base metal projects on high-grade epithermal low sulfidation including porphyry copper-gold geology, will be value add as we start up operations again at both Spitfire-Sunny Boy, Gaspard projects in B.C., and our South America projects.
Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report it has entered into two separate arm's-length agreements, pursuant to which the company will acquire a 100-per-cent interest in two battery metals projects in the province of Ontario and Quebec, collectively known as the Timmins West and Outarde Nickel Project northwest of Baie Comeau, Quebec
The first purchase agreement covers 5 mining claims totaling 1,940 hectares within the Kamiskotia Gabbroic Complex (KGC) located 20 km northwest of Timmins, Ontario (Figure 1). The KGC is a gabbroic to anorthositic intrusive mafic to ultra-mafic body that has documented nickel-copper-cobalt (Ni-Cu-Co) mineralization. An outcrop grab sample in 2004 reported 0.44% Ni, 0.64% Cu and 0.033% Co hosted by 10% pyrrhotite. The Property lies 40 km southwest of the Crawford Ni-Co Project being developed by Canada Nickel (TSXV:CNC).
The KGC property shares many similarities to other well-known complexes such as the Bushveld Complex (South Africa), the Stillwater Complex (USA) and Bell River Dore Lake Complexes (Quebec) (Barrie, 2000). The Timmins West Ni-Cu-Co property has historically been explored for gold. However, it's mafic to ultra-mafic composition within the KGC makes it a prime target for magmatic Ni-Cu-Co mineralization. The regional government flown magnetic signature of the KGC suggests a possible layer within the KGC that has the potential to a host a pyrrhotite-rich cumulate layer host to Ni-Cu-Co mineralization. An outcrop grab sample in (AFRI 42A12SE2024, sample 185247) taken in 2004 reported 0.44% Ni, 0.645% Cu, 332 ppm Co, 0.053 g/t Au and 3 g/t Ag. This sample was associated with 10% pyrrhotite in a gabbroic mafic outcrop. Eight (8) additional samples within 15 m of the 185247 also reported anomalous Ni-Cu-Co values.
The second purchase agreement comprises of 93 claims covering 5, 138 hectares located 120 km northwest of Baie-Comeau, Quebec. The Outarde Property contains nickel-copper-cobalt style mineralization and was last explored by Falconbridge in 1997. The property is located at the folded nose of a gabbro-norite suite of mafic rocks, part of the large anorthositic-gabbro pluton of the De La Blache Mafic Plutonic Suite (Figure 2). The gabbro-norite body occupies the entire length of the property (about 30 km) and has only been intermittently explored. Nickel and copper-bearing sulphides are generally located in fracture or shear zones. Highlights of the best Ni and Cu assays are 1.28% Ni and 1.38% Cu and 700 ppm Co from a grab sample. The property has not been drilled. Recommended work includes a high-resolution airborne magnetic and electromagnetic survey followed by ground truthing of detected anomalies. Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
Mr. Karim Rayani, Falcon's Chief Executive Officer, commented, "Falcon continues to build value for stakeholders and is pleased to add these ‘green metal' projects to our portfolio. The success of Canada Nickel in building the nearby Crawford Ni-Co Project to a zero-carbon producer of green metal provides impetus for the Timmins West acquisition. The Outarde Nickel Project acquisition adds to our green metal portfolio in an unexplored nickel-copper-cobalt suite of lithologies. The increasing demand for green metals and current supply deficits make projects like these very attractive long term in attracting new investments."
Falcon Gold purchased the Property from an individual (the "Vendor") for $10,500 in cash and the issuance of 100,000 common shares of the Company. The Vendor retains a 1% NSR which can be purchased by the Company for $300,000.
Falcon Gold purchased the property from an individual ("Vendor") for $12,000 in cash and the issuance of 150,000 shares. The vendor retains a 1% NSR that can be purchased by the Company for $300,000.
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Timmins West, particularly regarding historical exploration, neighbouring companies, and government geological work.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 9 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
Falcon Gold Corp. "Karim Rayani"
Karim Rayani Chief Executive Officer, Director Telephone: (604) 716-0551 Email: k@r7.capital
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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.
News Provided by ACCESSWIRE via QuoteMedia
Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon Gold" or the "Company") is pleased to announce the completion of the option and work requirements on the Central Canada project to earn its 100% interest in the project located in the Hutchinson Township, Ontario
Falcon has completed all its cash share and exploration expenditures over the 4-year option. Falcon has the right to purchase half of the 2% NSR (Net Smelter Royalty) for a payment of $ 1,000,000, leaving the vendors with 1%. With annual production pre-payments of $ 10,000 which will be deducted against future royalty payments.
The Company previously announced February 2, 2022, and April 4, 2022, the planning and expansion of phase 3 drilling to commence early March however due to drill crew delay and availability we had to push back the start date. Currently, due to increased water levels in rivers in the area the Ministry of Northern Development, Mines, Natural Resources, and Forestry issued a flood warning late May as water levels had increased blocking access to the project. The Company is monitoring the situation and will report back when the situation clears.
The Company has decided for the near term to focus on its Central Newfoundland project portfolio and is pleased to report crews have been mobilized at our Gander North and South projects and at our Golden Brook project with Joint Venture partner Marvel Discovery Corp. (TSX.V MARV). The Company will be following up with a more detailed news release on the exploration underway in Newfoundland in the coming days.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 9 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
Karim Rayani Chief Executive Officer, Director Telephone: (604) 716-0551 Email: k@r7.capital
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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.
News Provided by ACCESSWIRE via QuoteMedia
Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon Gold" or the "Company") is pleased to announce its intention to spin-out (the "Spin-Out Transaction") its rights, title and interest in and to the option agreement dated January 5, 2021 between Falcon Gold, Esperanza Resources S.A. and Mr. Ivo Rojnica regarding certain mineral claims in Argentina (the "Esperanza Project") into a wholly-owned subsidiary of Falcon Gold, Latamark Resources Corp. ("Latamark
It is anticipated that the Spin-Out Transaction will be completed pursuant to a plan of Arrangement (the "Arrangement") and will be subject to TSX Venture Exchange, regulatory and court approval, as well as shareholder approval by not less than two-thirds of the votes cast at the annual general meeting (the "Meeting") of Falcon Gold shareholders expected to be held in July 2022. Full details of the Spin-Out Transaction will be included in the management information circular to be sent to Falcon Gold shareholders in connection with the Meeting. It is anticipated that Falcon Gold shareholders will be entitled to receive one common share of Latamark for every 3.5 common shares of Falcon Gold held as of the effective date of the Arrangement. No Falcon Gold options or warrants will entitle the holders to receive any shares or other convertible securities of Latamark, except to the extent such holders exercise such options or warrants, as the case may be, to acquire common shares of Falcon Gold prior to the effective date of the Arrangement. There will be no change in shareholders' holdings in Falcon Gold as a result of the Arrangement.
Following completion of the Arrangement, the board of directors of Latamark will initially be comprised of Karim Rayani and Fraser Rieche. The management team of Latamark will consist of Karim Rayani as Chairman and Chief Executive Officer, Geoff Balderson as Chief Financial Officer and Secretary. It is anticipated as Latamark develops there will be further additions to the senior management team.
The Spin-Out Transaction is designed to create value for Falcon Gold shareholders by allowing Latamark to focus exclusively on the activities required to exercise the option on the Esperanza Project, which comprises seven exploration concessions covering 11,072 hectares in the Sierra de Las Minas District of Argentina's southern La Rioja province. The Company also announces it will not be proceeding with the warrant repricing in connection with a property acquisition dated April 14, 2020 and announced April 21st
2022 based on TSX.V policy.
Falcon Gold's Chief Executive Officer Karim Rayani commented, "The spin-out of Latamark creates tremendous upside as we enhance shareholder value by leveraging Falcon's shareholder base and creating opportunity outside of North America, while preserving the share capitalization of Falcon. This will enable us to expand into new jurisdictions while Falcon can focus on its Canadian portfolio. We fully expect Latamark to become a platform for other exploration projects in the region adding to the value proposition. We look forward to an aggressive launch in South America.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any it U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 9 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
Karim Rayani Chief Executive Officer, Director Telephone: (604) 716-0551 Email: info@falcongold.ca
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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.
News Provided by ACCESSWIRE via QuoteMedia
VANCOUVER, BC / ACCESSWIRE/ March 10, 2022 / Falcon Gold Corp. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is delighted to announce it has acquired, via staking, a very large and strategically located land position in the Valentine Lake South Area. This new land position consisting of 605 claims (15,300 hectares) is contiguous to Marvel Discovery Corp, Matador Mining, and Tru Precious Metals Corp (TRU). The Property also lies along strike from the Valentine gold deposit which hosts 6.8 million ounces of gold (Moz. Au) (all categories) and is now under development (https://marathon-gold.com/valentine-gold-project/). Falcon has immediate plans to commence high resolution magnetic surveys upon approval of exploration permits.
During 2021, 22 holes were drilled by TRU on their Golden Rose Project, contiguous to the Valentine Gold South Project, and assay results are just now being released. The first release of results includes 12 metres (m) grading 1.01 grams per tonne (g/t) Au from drill hole WL-21-12 and 7 m grading 1.71 g/t Au from drill hole WL-21-06, including 2.39 g/t Au over 4m (https://www.trupreciousmetals.com/news/tru-precious-metals-continues-to-intersect-gold-in-new-drill-results-from-golden-rose-project)
Figure 1. Regional location of Falcon's Valentine Lake South Gold property.
Falcon's Chief Executive Officer, Karim Rayani commented, "This is an impressive land position along the Valentine structural corridor. Our in-house studies have concluded that these crustal scale deformation zones host Newfoundland's larger gold deposits. They commonly have second- to third-order structural components much like the gold deposits along the Cadillac-Larder Lake and Destor-Porcupine fault zones of the Abitibi Subprovince of Ontario and Quebec. With Marathon & Matador as neighbours, we are ideally situated between two of the most significant gold deposits in Newfoundland. Our next steps are to run a high-resolution magnetic survey which will help map this large territory with braided shear zones which lie proximal to these major fault zones."
Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale fault zones within the Central Newfoundland gold belt. These major fault zones include the Baie Verte-Brompton Line, the Cape Ray Fault Zone, the Red Indian Line, and the Victoria Lake Shear Zone (Figure 2). The largest known gold deposit in Newfoundland occurs at Valentine Lake (Marathon Gold Corp,) in the footwall of the Victoria Lake Shear Zone. To date the Marathon Gold has discovered five (5) deposits along a 20km trend and together these represent the largest undeveloped resources in Atlantic Canada with reserves and resources of 6.8 Moz. Au. Also notable with the area is the Matador Mining Cape Ray deposit which hosts 837,000 oz. of Au (https://matadormining.com.au/cape-ray/). The newly acquired claims lie within the Valentine Lake Structural Corridor and in an area of very little historical exploration. Recent structural interpretations of regional scale geophysical surveys led Falcon Gold to the staking of this large land package due numerous interpreted parallel trends and tertiary splay zones which are considered highly prospective for gold mineralization.
Figure 2.Falcon Gold's Valentine South property location along the Valentine structural corridor.
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Valentine South property, particularly regarding historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
The Company holds 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
Falcon Gold Corp. "Karim Rayani"
Karim Rayani Chief Executive Officer, Director Telephone: (604) 716-0551 Email: info@falcongold.ca
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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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Falcon Gold Corp. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report it has increased its land position at the Gaspard Property from 3,955 hectares to 7,969 hectares. The Gaspard Property is in the Clinton Mining District of Central British Columbia near Spences Bridge. The Property covers similar geology to the Spences Bridge Gold Belt (the "SBGB") that hosts Westhaven Gold Corp.'s (WHN) Shovelnose gold project and the Blackdome Zone gold-silver deposit owned by Tempus Resources (TMR). Year-round, all-season roads with a good network of active logging roads provide excellent access (Figure 1
Figure 1. Location of the Gaspard Property within the Spences Bridge Gold Belt.
On, February 3rd ,2022, Falcon announced results from heavy mineral concentrates from three creek drainages grading 0.236 g/t Au, 1.097 g/t Au and 0.525 g/t Au. The stream sediment samples were collected over 3km southeast of previous and historical anomalous stream samples taken in 1990 from 4 parallel drainage patterns. The total apparent length of a gold anomaly that would potentially support an extensive drainage system at Gaspard is now 5km in length.
Karim Rayani, Chief Executive Officer commented, "We now have evidence that 6 separate drainage systems exist over a 5km strike length. The results from the heavy mineral concentrates combined with the 4 parallel drainage patterns further validate our thesis. The geology and host rock shares many characteristics to Westhaven's and Blackdome's deposits. We now control over 7,969 hectares in one of the last key areas in the Spences Bridge Camp known for low-sulfidation high grade."
Figure 2. Regional geological and structural setting of the Gaspard Gold Project.
The SBGB forms a northwest trending belt of Cretaceous-aged, volcaniclastic and sedimentary rocks 430km long and up to 24km wide extending in central BC (Figure 2). The relatively underexplored volcanic rocks are highly prospective for low-sulphidation epithermal gold mineralization. Recent drilling on the Shovelnose Gold Project by Westhaven Gold Corp. reported 614 g/t Au and 2,070 g/t Ag over 0.45m within 41.55m of 8.17 g/t Au and 34.64 g/t Ag (see press Westhaven press release dated June 1, 2021). The Blackdome Zone located 26km to the south was a former mine having produced 225,000 of gold at an average grade of 20 g/t Au. Current 43-101 compliant resources completed by SRK in 2010 report 144,500 tonnes Indicated grading 11.29 g/t gold and 50.01 g/t silver, and 90,600 tonnes Inferred grading 8.79 g/t gold and 18.61 g/t silver, Tempus Resources.
Falcon has also elected not to proceed with McCaul Hutchinson option agreement in Northern Ontario.
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Gaspard Property, particularly regarding historical exploration, neighbouring companies, and government geological work.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20 km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold).
The Company holds 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
Karim Rayani Chief Executive Officer, Director Telephone: (604) 716-0551 Email: info@falcongold.ca
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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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Turquoise Hill Resources Ltd is a global mining company that primarily mines copper, gold, and coal in the Asia-Pacific region. The company holds a 66% interest in Oyu Tolgoi, one of the world's largest copper-gold-silver mines, which ships concentrate to customers in China. Oyu Tolgoi is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border. The company also holds interests in companies that mine molybdenum and rhenium in Australia, and gold at the Kyzyl Gold Project in Kazakhstan.
Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) will report its Q2 2022 financial results before market open on Monday, August 15, 2022.
The company will hold an investor conference call to discuss the Q2 2022 financial results at 10:30 a.m. Eastern time / 7:30 a.m. Pacific time on the same day. The conference call dial-in is +1-647-484-0258 or toll free 1-800-289-0720, quote "Ivanhoe Mines Q2 2022 Financial Results" if requested. Media are invited to attend on a listen-only basis.
Link to join the live audio webcast: https://bit.ly/3I7kaCR
An audio webcast recording of the conference call, together with supporting presentation slides, will be available on Ivanhoe Mines' website at www.ivanhoemines.com.
After issuance, the Q2 2022 Financial Statements and Management's Discussion and Analysis will be available at www.ivanhoemines.com and at www.sedar.com.
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the development of major new, mechanized, underground copper mines at the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo and at the Platreef palladium-rhodium-nickel-platinum-copper-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the Democratic Republic of Congo.
Kamoa-Kakula is the world's fastest growing major copper mine. Kamoa-Kakula began producing copper concentrates in May 2021 and, through phased expansions, is positioned to become one of the world's largest copper producers. Kamoa-Kakula is being powered by clean, renewable hydro-generated electricity and is projected to be among the world's lowest greenhouse gas emitters per unit of metal produced. Ivanhoe Mines has pledged to achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Mining Complex. Ivanhoe also is exploring for new copper discoveries on its Western Foreland exploration licences in the Democratic Republic of Congo, near the Kamoa-Kakula Mining Complex.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133570
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American West Metals Limited (“American West” or the “Company”) (ASX: AW1) is pleased to present its investor presentation.
Click here for the full ASX Release
This article includes content from American West Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.
With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.
After bottoming out at US$2.17 per pound in mid-March 2020, copper has largely been on an upward trajectory.
Higher copper prices in 2021 and early 2022 have been attributed to a widening supply/demand gap. The already tenuous copper supply picture was made worse by COVID-19 lockdowns, and as the world's largest economies seemingly began to emerge from the pandemic, demand for the metal picked up once again. Copper-mining and refining activities simply couldn't keep up with the rebound in economic activity.
In response, the copper price reached record highs in early 2022. But what was the highest price for copper? The Investing News Network (INN) will answer that question, but first let’s take a deeper look at what factors drove the price of copper higher, as well as historical movements in the price of copper.
Robust demand has long been one of the strongest factors driving copper prices. The ever-growing number of copper uses in everyday life — from building construction and electrical grids to electronic products and home appliances — make it the world’s third most-consumed metal.
Copper’s anti-corrosive and highly conductive properties are why it’s the go-to metal for the construction industry (for example, in copper pipes and copper wiring). In fact, construction is responsible for nearly half of global copper consumption. Rising demand for new homes and home renovations in both Asian and western economies is expected to support copper prices in the long term.
In recent decades, copper price spikes have been strongly tied to rising demand from China as the economic powerhouse injects government-backed funding into new housing and infrastructure. Industrial production and construction activity in the Asian nation have been like rocket fuel for copper prices.
Additionally, copper’s conductive properties are increasingly being sought after for use in renewable energy applications, including thermal, hydro, wind and solar energy.
However, the biggest driver of copper consumption in the renewable energy sector is rising global demand for electric vehicles (EVs), EV charging infrastructure and energy storage applications. As governments push forward with transportation network electrification and energy storage initiatives as a means to combat climate change, copper demand from this segment is expected to surge.
Europe is becoming a strong hotbed for copper use as its renewable energy sector grows. In 2021, it led the world in EV sales, with a total of about 2.3 million units sold, and analysts expect that trend to continue in the coming years. While internal combustion engine vehicles use about 22 kilograms of copper, hybrid EVs use 40 kilograms, plug-in hybrid EVs use 55 kilograms, battery EVs use 80 kilograms and battery electric buses use 253 kilograms.
Eleni Joannides, principal copper analyst with research firm Wood Mackenzie, told INN that the amount of copper Europe will require to meet forecast EV demand will depend on what type of EVs spark consumer interest.
On the supply side of the copper market, the world’s largest copper mines are facing depletinghigh-grade copper resources, while over the last decade or more new copper discoveries have become few and far between.
The pandemic made the situation worse as mining activities in several top copper-producing countries faced work stoppages and copper companies delayed investments in further exploration and development — a challenging problem considering it can take as many as 10 to 20 years to move a project from discovery to production. In addition, delayed investments amid the pandemic will also have long-term repercussions for copper supply.
By 2030, analysts at Rystad Energy project that copper demand will outstrip supply by more than 6 million metric tons. “A deficit of this magnitude would have wide-reaching ramifications for the energy transition as there is currently no substitute for copper in electrical applications,” they said in a note. "Significant investment in copper mining is required to avoid the shortfall.”
Furthermore, concern is growing over low warehouse inventories of copper. In late April 2021, commodities analysts at the Bank of America (NYSE:BAC) noted that copper inventories were at their lowest levels in 15 years, covering a mere 3.3 weeks of demand. Projecting copper market deficits looming in the near term, the analysts warned that copper supply shortages might lead to further price spikes.
“Copper is sleepwalking towards a stockout,” Goldman Sachs (NYSE:GS) analysts said more recently in an emailed note to Bloomberg. “We believe higher prices are an inevitability — required to stimulate substantially more scrap supply as well as accelerate demand destruction to balance this market.”
This means end users may need to turn to the copper scrap market to make up for the supply shortage. Sometimes referred to as “the world’s largest copper mine,” recycled copper scrap contributes significantly to supplying and balancing the copper market.
Taking a look back at historical price action, the copper price has had a wild ride over the past 21 years.
Sitting at a low of US$0.73 in early June 2001, the copper price followed global economic growth up to a high of US$3.91 in April 2008. Of course, the global economic crisis of 2008 soon led to a copper crash that left the metal at only US$1.29 by the end of year.
Once the global economy began to recover in 2011, copper prices posted a new record high of US$4.58 at the start of the year. However, this high was short-lived as the copper price began a five year downward trend, bottoming out at around US$1.95 in early 2016.
Copper prices stayed fairly flat over the next four years, moving in a range of US$2.50 to US$3.
In 2020, the pandemic’s impact on mine supply and refined copper pushed prices higher despite the economic slowdown. The copper price climbed from a low of US$2.17 in March to close out the year at US$3.52.
In 2021, signs of economic recovery and supercharged interest in EVs and renewable energy pushed the price of copper to rally higher and higher. Copper topped US$4.90 for the first time ever on May 10, 2021, before falling back to close at US$4.76. Expectations for higher copper demand came amid supply concerns out of two of the world’s major copper producers: Chile and Peru. In late April 2021, port workers in Chile called for a strike, while in Peru presidential candidate Pedro Castillo proposed nationalizing mining and redrafting the country’s constitution.
In early May 2021, news broke that copper inventories were at their lowest point in 15 years. Expert market watchers such as Bank of America commodity strategist Michael Widmer warned that further inventory declines last year and into 2022 could lead to a copper market deficit.
In early 2022, the copper price continued to spike on economic recovery expectations and supply shortages to reach its current all-time high. So what exactly was the highest price for copper?
The price of copper reached its highest recorded price of US$5.02 on March 6, 2022. How did it get there? The metal started out the year at US$4.52. Throughout the first quarter of 2022, fears of supply chain disruptions and historically low stockpiles amid rising copper demand drove prices higher.
However, copper prices have since pulled back on concerns that further COVID-19 lockdowns in China, as well as a growing mortgage crisis, have slowed down construction and infrastructure activity in the Asian nation. As of late July 2022, copper prices were trading down at nearly a two year low of around US$3.30.
Copper’s rally in recent years has encouraged bullish sentiment on prices looking ahead. In the longer term, the fundamentals for copper are expected to get tighter as demand from sectors such as EVs and energy storage increases, and as governments around the world push for green energy transitions.
CRU Group analyst Robert Edwards told INN, “The 2022 copper supply/demand balance has been revised from a 50,000 tonne surplus to a 100,000 tonne deficit.”
S&P Global Market Intelligence has forecast that global copper demand will be driven by solar and wind energy generation, as well as the booing EV market, resulting in 50 million metric tons of demand by 2035.
Copper market fundamentals suggest a return to strength in the long term. The copper supply/demand imbalance also presents an investment opportunity for those interested in copper-mining stocks.
Joe Mazumdar, editor of Exploration Insights, told INN at the 2022 Vancouver Resource Investment Conference that copper-mining companies are looking very attractive in this market.
"Some of it's battery metal exposure, it's construction," Mazumdar said. "But also on the supply side, the lack of development projects and the higher permitting risk combined with more geopolitical risk in two of the major producers, Chile and Peru. They might have issues with production into a market (where) demand might grow."
Watch the full conversation with Mazumdar.
Mazumdar’s Exploration Insights portfolio includes a focus on copper companies with strong assets. He’s recently visited a number of copper projects, including Ero Copper (TSX:ERO,NYSE:ERO) in Brazil, Pan Global Resources (TSXV:PGZ) and Arizona Sonoran Copper Company (TSX:ASCU,OTCQX:ASCUF).
Are there any copper companies on your radar? If you’re looking for some inspiration, head on over to INN's articles on the top copper stocks on the TSX and TSXV.
This is an updated version of an article first published by the Investing News Network in 2021.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Pan Global Resources is a client of the Investing News Network. This article is not paid-for content.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") continues to investigate the cause of a sinkhole that was detected near the Alcaparrosa mine of its Minera Ojos del Salado operations in Chile on July 30 and is cooperating fully with Chilean regulatory authorities in relation to the incident.
All personnel at the operation and in the community are safe and the appearance of the sinkhole did not result in any injuries. As a precautionary measure, development work in an area of the Alcaparrosa underground mine was halted immediately upon detection of the sinkhole, and subsequently all mining operations suspended at Alcaparrosa. On August 4 , Chile's National Service of Geology and Mining (Sernageomin) issued a notification to maintain suspension of all mining activities in Alcaparrosa.
"Our actions in responding to this incident are guided first and foremost by the safety of personnel and community members," said Peter Rockandel , President and CEO of Lundin Mining. "We are fully committed to working cooperatively with an independent investigation by Sernageomin, in addition to conducting our own investigation, and to communicating regularly with community members, union representatives and other stakeholders to ensure they are informed of developments."
Contrary to some media reports, the size of the sinkhole has not changed materially since detection. On July 30 , the sinkhole measured approximately 32 meters in diameter at the surface, 48 meters in diameter at the bottom and 64 meters deep. The sinkhole is being continuously monitored and as of August 9 , the diameter at the surface has increased slightly to 36.5 meters, while the bottom diameter has remained stable at 48 meters and the depth has decreased to 62 meters.
Further information will be provided as events warrant, including following the outcome of investigations into the cause of the sinkhole.
Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina , Brazil , Chile , Portugal , Sweden and the United States of America , primarily producing copper, zinc, gold and nickel.
The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on August 9, 2022 at 17:15 Eastern Time .
Cautionary Statement on Forward-Looking Information Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any Preliminary Economic Assessment, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; the Company's integration of acquisitions and any anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labor; assumed and future price of copper, nickel, zinc, gold and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; global financial conditions and inflation; changes in the Company's share price, and volatility in the equity markets in general; volatility and fluctuations in metal and commodity demand and prices; changing taxation regimes; delays or the inability to obtain, retain or comply with permits; reliance on a single asset; unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; risks related to negative publicity with respect to the Company or the mining industry in general; health and safety risks; pricing and availability of key supplies and services; the threat associated with outbreaks of viruses and infectious diseases, including the COVID-19 virus; exchange rate fluctuations; risks relating to attracting and retaining of highly skilled employees; risks inherent in and/or associated with operating in foreign countries and emerging markets; climate change; regulatory investigations, enforcement, sanctions and/or related or other litigation; existence of significant shareholders; uncertain political and economic environments, including in Argentina , Brazil and Chile ; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; indebtedness; liquidity risks and limited financial resources; funding requirements and availability of financing; exploration, development or mining results not being consistent with the Company's expectations; risks related to the environmental regulation and environmental impact of the Company's operations and products and management thereof; activist shareholders and proxy solicitation matters; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; historical environmental liabilities and ongoing reclamation obligations; information technology and cybersecurity risks; risks related to mine closure activities, reclamation obligations, and closed and historical sites; social and political unrest, including civil disruption in Chile ; the inability to effectively compete in the industry; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may be unreliable; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; enforcing legal rights in foreign jurisdictions; community and stakeholder opposition; changes in laws, regulations or policies including but not limited to those related to mining regimes, permitting and approvals, environmental and tailings management, labor, trade relations, and transportation; risks associated with the structural stability of waste rock dumps or tailings storage facilities; dilution; risks relating to dividends; conflicts of interest; counterparty and credit risks and customer concentration; the estimation of asset carrying values; challenges or defects in title; internal controls; relationships with employees and contractors, and the potential for and effects of labor disputes or other unanticipated difficulties with or shortages of labor or interruptions in production; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; compliance with environmental, health and safety regulations and laws; and other risks and uncertainties, including but not limited to those described in the "Risk and Uncertainties" section of the Company's AIF and the "Managing Risks" section of the Company's MD&A for the year ended December 31, 2021 , which are available on SEDAR at www.sedar.com under the Company's profile. All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward ‐ looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
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Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) today announced that, pursuant to the terms of an asset purchase agreement dated May 18, 2022 between, among others, American Copper Development Corporation (" American Copper ") and Hudbay's wholly owned subsidiary, Mason Resources (US) Inc. (" Mason "), American Copper issued 9,896,591 common shares (the " Consideration Shares ") to Mason as partial consideration for the acquisition of a 100% interest in Mason's Lordsburg property in New Mexico, United States. The Consideration Shares represent approximately 12.0% of American Copper's currently issued and outstanding shares.
Promptly following the closing of the transaction, Mason entered an agreement to transfer the Consideration Shares to Hudbay at fair market value. Prior to the transaction, Hudbay held no common shares of American Copper.
This news release is issued pursuant to applicable Canadian securities laws. A copy of the corresponding early warning report will be filed and be available on American Copper's profile on SEDAR at www.sedar.com. The head office of American Copper is located at 2710 Granville Street, Suite 200, Vancouver, British Columbia, V6C 1S4. The head office of Hudbay is located at 25 York St, Suite 800, Toronto, Ontario, M5J 2V5.
This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking information") within the meaning of applicable Canadian and United States securities legislation. Forward-looking information includes information that relates to, among other things, statements with respect to the acquisition of American Copper shares. Forward-looking information is not, and cannot be, a guarantee of future results or events.
Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Hudbay at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Hudbay does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.
Hudbay (TSX, NYSE: HBM) is a diversified mining company with long-life assets in North and South America. The company's operations in Cusco (Peru) produce copper with gold, silver and molybdenum by-products. Its operations in Manitoba (Canada) produce gold with copper, zinc and silver by-products. Hudbay's organic pipeline includes copper development projects in Arizona and Nevada (United States), and its growth strategy is focused on the exploration, development, operation, and optimization of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay's mission is to create sustainable value through the acquisition, development and operation of high-quality, long-life deposits with exploration potential in jurisdictions that support responsible mining, and to see the regions and communities in which the company operates benefit from its presence. Further information about Hudbay can be found on www.hudbay.com .
For investor and media inquiries or to obtain a copy of the Early Warning Report, please contact:
Candace Brûlé Vice President, Investor Relations (416) 814-4387 candace.brule@hudbay.com
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