Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to update the progress at the 2022 exploration program at its Quesnel NickelMagnesiumTalc project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.
The following map shows the magnetic anomalies circled in yellow. The map also highlights the location of the 2021 and 2022 drill hole locations. The magnetic anomaly extends over 14 linear kilometers.
To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/7403/127824_e50ed7a3d42e19c9_002full.jpg
Kyle Townsend, Mine Manager for Green River Gold Corp. comments "The recently completed UAV-MAG survey confirmed our theory that the magnetic anomalies discovered in the 2021 survey would continue on the NW trend. As we continue to strategically back pack drill, along with a comprehensive soil sampling program early this summer, we will have a very strong data set to design our future drilling program."
Stephen Kocsis, Geologist for Green River Gold Corp. comments "Our initial drill program has intercepted thick ultramafic rock sequences containing elevated concentrations of nickel and other metals. A second phase of drilling will give us a better understanding of the distribution of potential mineralization and their structural controls."
The previously completed UAV-MAG survey results over the Quesnel Nickel/Magnesium/Talc Project area indicated the presence of highly magnetic rocks co-incident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage. These results are similar to the aeromagnetic response in the area of nickel-alloy mineralization found throughout the BC Decar District.
The elevated elements are hosted in serpentinized ultramafic rocks belonging to the Slide Mountain Terrane.
During the 2021 exploration drilling 9 shallow holes were drilled from a talc outcropping. Assay results from the first 6 of those holes have been received and are presented in the table below.
Quesnel Nickel/Magnesium/Talc Project Highlights:
There are 3 BC MINFILE occurrences as follows:
Historical records indicate four widely separated areas of talc alteration along a 1.4- kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do- Creek, the Company will be further investigating the other three known areas of talc alteration for the presence of nickel this season.
Fontaine Lode Gold Exploration Plan:
Last year, the UAV magnetic survey identified many anomalies in the area. This year, the exploration crew will take soil and rock samples from the area of those magnetic anomaly locations. Meanwhile, the vein structures, outcroppings, and mineral showings will be recorded and mapped. A backpack drill will be utilized to execute strategic drilling on the outcrops to investigate for occurrences of mineralization. The project geologist will summarize the previous historical mining activities and exploration records and plotting all the records on map, to verify the historical records during the 2022 field season.
Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned high-grade Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
Mr. Perry Little - President and Chief Executive Officer perry.little@greenrivergold.ca 780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127824
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The Cariboo gold district in British Columbia, Canada, was a world-class producer of gold, and site of the famous Cariboo Gold Rush between 1861 and 1867. The district produced approximately 3.8 million ounces of gold after 1874, divided roughly evenly between hard rock gold and placer gold production valued at C$50 million.
Today, the Cariboo gold district remains a prospective and mining-friendly region with excellent infrastructure. Interest in the region has been renewed with recent transactions including the acquisition of Barkerville Gold Mines, now held by Osisko Development Corp. (TSXV:ODV). Other notable names in the Cariboo gold district include Omineca Mining and Metals (TSXV:OMM) with its Wingdam Gold project, Imperial Metals' (TSE:III) Mount Polley mine and Taseko Mines' (TSX:TKO) Gibraltar mine. Mining companies with projects in the Cariboo gold district present investors with renewed discovery potential in a historically significant area.
According to Green River Gold (CSE:CCR) CEO Perry Little, "The hunt is on."
Green River Gold is exploring for gold, as well as nickel, cobalt and talc, in the historically-prolific Cariboo gold district. The company's highly prospective and potentially high-grade project feature excellent access to infrastructure, including roads, power and local talent.
The fully-owned Fontaine Lode Gold project spans 8,900 hectares and is located 12 kilometres from Barkerville which was the epicentre of the Cariboo Gold Rush in 1860. The Fontaine Lode Gold project is contiguous to Osisko's Cariboo Gold Project, which is anticipated to begin production in the latter half of 2023.
The Quesnel Nickel Cobalt Talc project is contiguous to the Fontaine Lode Gold project and is an early-stage project that spans approximately 2,219 hectares. The project has similar geological features to FPX Nickel's (TSXV:FPX) Decar Nickel District project, which some consider the third top nickel project in the world. Historic work on the Quesnel Nickel Cobalt Talc project suggest significant potential for all three minerals. Grab samples were taken in recent weeks and have been sent for assay. Assay results are expected by the end of November 2021.
The Kymar Silver project is a silver project that includes two mineral tenures spanning 1,440 hectares in Southeastern British Columbia. The project is located 28 kilometres west of Invermere in the Golden Mining Division in British Columbia. A historical bulk sample on Kymar Silver revealed high average grades of 2,000 g/t silver, 57 percent lead, 0.8 percent copper and 3.4 g/t gold. The property also features several past-producing artisanal mines.
Grab samples were gathered from the areas of several of the past producing artisanal mines in October 2021 and were sent to the lab for assay. Assay results are expected by late November 2021.
Green River Gold has strategic positioning in highly prospective geological areas near past-producing mines. The Fontaine Lode Gold project features similar geology to Osisko Development Corp.'s Cariboo Gold project which it borders. The Quesnel Nickel Cobalt Talc project also borders Omineca Mining and Metals' Wingdam Gold project.
In an interview, CEO Perry Little shared, "Every hole drilled and every bit of exploration done by Osisko, Omineca or Green River will lead to a greater understanding of the regional geology."
Currently, Green River Gold is conducting exploration activities on its properties including bedrock mapping, geochemical exploration, ground geophysics and backpack drilling. Green River Gold is also in the process of applying for permits to commence RC and diamond drilling on its properties. The company is committed to producing a NI 43-101 technical report in a timely manner.
Green River Gold is led by a highly experienced management team over 60 years of combined technical experience and over 30 years of capital market experience. CEO Perry Little has an impressive 28-year-long successful career with extensive experience in financing junior resource companies and trading in the public markets.
The Fontaine Lode Gold project is a 100 percent-owned prospective gold project that includes placer and hard-rock tenures spanning 90 square kilometres in the historic Cariboo gold district in British Columbia, Canada. The project is located approximately 12 kilometres southwest of the historic Barkerville town which was the epicentre of the original Cariboo Gold Rush that started in 1860. The property straddles an 18-kilometres of length on the Quesnel Barkerville and Slide Mountain terranes.
From the 1970s to the 1980s, prospecting and sampling were conducted on the property. The Fontaine Lode Gold project features similar geology to Osisko Development Corp.'s Cariboo Gold project which it borders. The Cariboo Gold project has an indicated resource of 3.2 million ounces of gold grading 4.64 g/t gold and an inferred resource of 2.72 million ounces of gold grading 3.91 g/t gold.
The Quesnel Nickel Cobalt Talc project is an early-stage prospective silver project that includes 8 mineral claims spanning approximately 2,219 hectares in the Cariboo gold district in British Columbia, Canada. The project is located next to the Fontaine Gold project and has similar geological features to FPX Nickel's Decar Nickel District project, considered by some to be the third-top nickel project in the world. The Quesnel Nickel Cobalt Talc project borders Omineca Mining and Metals' Wingdam Gold project and is on trend with the Eureka Thrust which runs on the Wingdam project.
Historical drilling conducted on the project's nickel and talc anomalies as well as limited rock sampling and analyses suggest the potential for high grade nickel. The Quesnel Nickel Cobalt Talc project features surface outcrops of nickel, cobalt and talc.
The Kymar Silver project is a prospective silver project that includes mineral tenures spanning 1,440 hectares in the Cariboo gold district in British Columbia, Canada. The project is located 28 kilometres west of Invermere in the Golden Mining Division in British Columbia and along the southeast portion of Mount Catherine. Mineralization on the Kymar Silver project includes silver, lead, gold and zinc hosted in polymetallic veins within a zone along a normal fault. The polymetallic veins exist within the Purcell Supergroup strata, including the Mount Nelson and Dutch Creek formations.
The Kymar Silver project includes several past-producing artisanal mines. In 1926, a bulk sample from the property revealed average grades of 2,000 g/t silver, 57 percent lead, 0.8 percent copper and 3.4 g/t gold. Kymar Silver has six high-grade targets based on historical production, shafts and stockpiles and other workings. Grab samples from the areas of the old artisanal mines were taken in October 2021. Assay results are expected by the end of November 2021.
Perry Little, B.A. (Econ), CIM, has extensive experience with junior resource company financing and with the public markets in general. His experience was gained throughout a 28-year career in the investment industry. During his career, Perry held a variety of positions with large Canadian investment firms. He retired from his position as a Senior Investment Advisor with Canaccord Genuity Wealth Management in 2016 after 14 years with the company. Before his involvement in the investment industry, Perry spent 9 years in the field of public accounting acquiring significant experience and education in the areas of accounting, taxation, and auditing. Perry is currently the President and CEO of a private gold mining and manufacturing enterprise and has also served on the Board of Directors for two charitable organizations and a private real estate development company.
Shawn Stockdale is a Chartered Accountant who has operated his public accounting practice for the past 12 years. Before establishing his firm, he spent 14 years with larger C.A. firms. During this time, Shawn completed the in-depth tax course. He has experience serving clients from a wide variety of industries. Shawn holds a B.Comm. from the University of Lethbridge. He is also the Secretary/Treasurer of a private gold mining enterprise.
Rick Watters is a professional engineer and the current president of WLBS Enterprises Inc. which is an independent engineering consulting company. Watters holds a P.Eng. in Metallurgical Engineering from the University of Alberta. He has over 35 years of experience with increasing responsibility including directing the development of oil and gas facilities. His comprehensive career includes 3 years with ILF Consulting as the vice president of projects and engineering. Watters also spent several years with Enbridge and TransCanada Pipelines as well as 23 years with Cenovus and its predecessor companies. Watters has also served on the board of directors of two non-profit organizations –– the Construction Owners Association of Alberta and the Southern Alberta Freestyle Ski Club. Watters has extensive knowledge and experience in construction, stakeholder relations, regulatory and environmental requirements, commercial evaluations, estimating, scheduling, procurement, expediting, contracts administration, facility design, pipeline design, facilities management and metallurgy.
David Upright is the current director of sales, inventory and operations planning at Champion Petfoods. Champion Petfoods is a local manufacturer of premium pet food serving pet lovers around the globe. His career includes 25 years as vice president of information services with The Brick and 4 years running a private consulting firm that specializes in information technology and continuous improvement. Upright holds a B.Sc. in Computing Science and an M.B.A. from the University of Alberta. Upright also serves on the board of directors for a foundation that serves Oakhill Boys Ranch.
Vern Kibblewhite recently retired from his position as superintendent with PCL Industrial Constructors Inc. which is one of the largest construction companies in North America. His 23 years at PCL included 5 years in charge of their fabrication facility in Nisku, Alberta which was the largest fabrication shop in Canada at the time. Kibblewhite also held the position of maintenance supervisor for Epcor's 600MW coal-fired power plant. Kibblewhite studied Power Engineering at Southern Alberta Institute of Technology and holds a Gas Fitter ticket, Plumbing ticket, and Steamfitter ticket. He is a former member of the board of directors of West Parkland Gas Co-op.
Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that it plans to undertake a non-brokered private placement of up to 3,000,000 units ("Units") to raise gross proceeds of up to $210,000.00 (the "Unit Offering"). The Units will be offered at a price of $0.07, with each Unit consisting of one common share ("Share") and one common share purchase warrant ("Warrant"). Each Warrant will be exercisable to acquire one Share ("Warrant Share") for a period of 3 years following the closing of the Offering at an exercise price of $0.09 per Warrant Share, subject to acceleration provisions (as set out below).
If the closing price of the Company's Shares on the Canadian Securities Exchange (the "CSE") (or such other principal exchange on which the Shares may be traded at such time) is equal to or greater than $0.20 for a period of ten (10) consecutive trading days, the Company may, at its sole option, accelerate the expiry date of Warrants to the date which is thirty (30) days following the date upon which notice of the accelerated expiry date is provided by the Company (given by way of news release).
The Company intends to use the proceeds of the Unit Offering for the exploration of the Company's mining properties, acquisition of drilling equipment and supplies, working capital and general corporate purposes.
No commissions will be paid with respect to the Unit Offering, however, the Company may pay a finder's fee to certain finders of up to 8% of the aggregate gross proceeds of subscriptions facilitated by such finders (the "Finder's Fees"). The Finder's Fees may be paid in cash and/or Units at the option of the finder.
In addition, the Company plans to undertake a non-brokered private placement of up to 4,000,000 Flow-Through Common Shares ("Flow-Through Shares") to raise gross proceeds of up to $300,000.00 (the "Flow-Through Offering"). Each Flow-Through Share will be offered at a price of $0.075.
The Company intends to use the proceeds of the Flow-Through Offering for the continued exploration drilling on the Quesnel Nickel Project.
No commissions will be paid with respect to the Flow-Through Offering, however, Green River may pay a cash finder's fee to certain finders of up to 8% of the aggregate gross proceeds of subscriptions facilitated by such finders.
The Unit Offering and Flow-Through Offering are expected to close on or about July 31, 2022 and are subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the CSE.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned highgrade Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
Green River Gold Corp. Mr. Perry Little - President and Chief Executive Officer perry.little@greenrivergold.ca 780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131360
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Green River Gold Corp. (CSE:CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to update the progress at the 2022 exploration program at its Quesnel NickelMagnesiumTalc project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.
Backpack diamond core drilling is underway at the one square kilometer outcropping known as the Deep Purple Target at the Company's Quesnel Nickel/Magnesium/Talc project. This drilling program will focus on the expansion of mineralization at the Deep Purple Target, near to where the 2021 maiden exploration drilling discovered broad intervals of elevated Nickel concentrations.
The first hole (Hole DD-22-05) is being drilled 420 meters north and closer to the center of the magnetic anomaly than the holes drilled in 2021. The hole has been drilled 11 meters deep so far and results from XRF testing show elevated nickel and chromium concentrations starting at surface, with nickel readings averaging 0.197% and chromium readings averaging 0.136%. These early readings are considerably higher than the XRF readings and the final assay results taken from the nine holes drilled in 2021. The XRF readings on those nine holes averaged 0.107% nickel and 0.116% chromium. Actual assay results from 2021 are shown in the table following the maps. Thus far, the material being drilled appears to consist of significant amounts of talc, somewhat similar to what was found in the holes drilled in 2021.
Perry Little, Green River's President and CEO, states, "We are very excited to see the higher nickel and chromium results in the XRF numbers so far. We were pleased with the results from the earlier drilling and these results represent a significant improvement over those earlier results. The UAV-MAG survey steered us toward this large outcropping and thus far, following those directions appear to be paying off. It is also encouraging to see that we still have this amount of talc in the drill core so far from the original drilling location. The combined economics of nickel and talc in one location are quite compelling."
The first phase of this year's backpack drilling program will consist of 10-12 holes, stepping out meaningfully up to 500 meters north and 2 km southeast, along the outcrop-defined target area. This year's hole locations were selected by using information from the 2021 drill results, ground magnetics, outcrop mapping, and outcrop sample Geochem and assay result. This year's step-out drilling at the Deep Purple Target is planned to build on the successful 2021 maiden exploration drill results.
The following table shows the meter-by-meter XRF results of Hole DD-22-05 from surface to a depth of 11 meters. Drilling is continuing and more holes are to be drilled immediately.
Note: The XRF data is taken as point values and will not represent the true grade of the samples assayed. The elemental data is highly dependent on the location of which the beam intersects the rock. The device used to take the data points is an Olympus Vanta C Series handheld X-ray fluorescence (XRF) and produces a beam spot diameter of up to 3mm. It is designed to achieve laboratory-quality results in the field and provides rapid and accurate elemental analysis and testing.
Figure 1 Outcropping and Drill Location
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Figure 2 Outcropping and Drilling Locations
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In early July, the geological consulting company, Fargo Exploration Ltd., will conduct a series of geochemical sampling programs, including a soil sampling survey. The soil sampling grid has been set up with a 100-meter by 100-meter interval on the Deep Purple intensive magnetic anomaly. During the sampling program, exposed bedrock will be recorded and sampled. The director of Fargo Exploration, Tyler Tian, comments; "The soil sampling survey will help us understand the minerals that cause the strong magnetic anomaly and the mobility of minerals. It will benefit us to generate new drilling targets."
Kyle Townsend, Mine Manager for Green River Gold Corp. comments; "Given the positive 2021 maiden drill results and the size of the outcrop-defined target, we are very excited to test the expansion of the new discovery at the Deep Purple Target."
Figure 3 Soil Sampling Grid Outline
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The maiden 2021 exploration drilling program consisted of 9 shallow holes drilled over exposed ultramafic rocks. These discovery holes returned broad intervals of Nickel and Magnesium mineralization. Assay results from the first 6 of those holes have been received and are presented in the table below as averages along the entire length of each drill hole.
Quesnel Nickel/Magnesium/Talc Project Highlights:
There are 3 BC MINFILE occurrences as follows:
Historical records indicate four widely separated areas of talc alteration along a 1.4- kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do- Creek, the Company will be further investigating the other three known areas of talc alteration for the presence of nickel this season.
Fontaine Lode Gold Exploration Plan:
Last year, the UAV magnetic survey identified many anomalies in the area. This year, the exploration crew will take soil and rock samples from the area of those magnetic anomaly locations. Meanwhile, the vein structures, outcroppings, and mineral showings will be recorded and mapped. A backpack drill will be utilized to execute strategic drilling on the outcrops to investigate for occurrences of mineralization. The project geologist will summarize the previous historical mining activities and exploration records and plotting all the records on map, to verify the historical records during the 2022 field season.
Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned high-grade Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
Green River Gold Corp. Mr. Perry Little - President and Chief Executive Officer perry.little@greenrivergold.ca 780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129088
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to update the progress at the 2022 exploration drilling program at its Quesnel NickelTalcMagnesium project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.
To date 2 holes have been drilled in the first phase of the 2022 exploration drilling program by using a portable Winkie drill purchased by the Company late in 2021. The first hole (DD-22-01) was drilled to a depth of 45.6 meters before it was discontinued for technical reasons. The plan is to re-enter that hole and drill it to a greater depth before the current program is completed. The second hole of the 3-hole program is currently at 20.1 meters and, once the remaining snow has melted and ground conditions allow, drilling will recommence.
While awaiting the return of favourable ground conditions at the primary drill site, Green River took advantage of the down time by stepping out to other prospects. Strategic exploration drilling with a backpack drill has commenced, with the first drill hole (DD-22-03) having been drilled to a depth of 1.9 meters on a talc outcropping located approximately 600 meters southeast of hole DD-22-01. Initial XRF scans of the core from hole DD-22-03 indicate the presence of nickel and chromium. Other known outcrops will be strategically drilled throughout the 2022 exploration season. The known talc occurrences currently extend over a length of 1.4 kilometers.
Perry Little, President and CEO of Green River Gold Corp. comments, "We are in the process of expanding the known area of mineralized talc on the property. Finding nickel, chromium and titanium 600 meters from the area that we are currently drilling increases our confidence that the mineralized talc we are currently drilling is not just a localized phenomenon. The current drilling is designed to find out how deep the mineralized talc zone extends. The second part of the program is to find out whether the mineralized talc continues over the entire 1.4-kilometer length of talc occurrences that was studied in the 1980's. In the 1980's, drilling and analysis of the recovered talc was done to determine the potential to build a dedicated talc mine. Talc is a valuable commodity on its own. According to the USGS, the average price for milled talc in the U.S. in 2021 was U.S.$270 per ton. Our talc begins right at surface and the depth of the occurrence is only now being tested. What wasn't of interest in the 1980's, but certainly is now, is the presence of nickel, along with chromium in the talc. It is rare, although not totally unique to have this amount of nickel contained in the talc and it gives rise to the possibility of mining nickel, with much of the "waste" or host material being talc which is a marketable commodity. Alternatively, you could see it as a talc mine with nickel as a biproduct. Either way you look at it, the potential economics are very compelling."
The area of current drilling in relation to the entire 93 square kilometer project is illustrated in Figure 1 and Figure 2 zooms in on the current area of interest.
Figure 1. Area of the current drilling in relation to the entire 93 square kilometer project.
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The fieldwork portion of the previously announced UAV-MAG survey has now been completed and results will be announced and updated maps will be provided once final data processing is complete.
As mentioned above, Hole number DD-22-01 was drilled to a depth of 45.6 meters. Based on analysis with an XRF gun, Hole DD-22-01 encountered two zones of mineralized talc separated by a swarm of dykes that were completely devoid of mafic minerals. The hole was still in mineralized talc when it was terminated temporarily for technical reasons. Hole number DD-22-02 is currently at 20.1 meters and has been in mineralized talc right from surface. The average XRF gun results for the two mineralized talc zones in Hole DD-22-01 and for Hole DD-22=02 are listed in the following table.
Note: The XRF data is taken as point values and will not represent the true grade of the samples assayed. The elemental data is highly dependent on the location of which the beam intersects the rock. The device used to take the data points is an Olympus Vanta C Series Handheld X-ray fluorescence (XRF) unit. It produces a beam spot diameter of up to 3mm. It is designed to achieve laboratory-quality results in the field and provides rapid and accurate elemental analysis and testing.
Figure 2. zooms in on the current drilling area and shows the new hole (DO-22-03) location, which has also encountered nickel, chromium, and titanium in talc 600 meters southeast from drill hole DO-21-07.
Figure 2. Current exploration area showing drill hole collar locations.
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Hole DD-22-01 drilled through a fault zone consisting of greenish black, weakly-magnetic, brecciated, serpentinite or peridotite protolith to a depth of 185 feet. This hole is a duplicate of hole DD-21-06, which was drilled to approximately 52 feet deep. The protolith exhibits intensely molted serpentine and talc alteration along fractures. A 22-foot-thick swarm of white leucocratic dykes, with strong chlorite and carbonate alteration, were intersected from 67 to 89 feet. The dykes are completely devoid of mafic minerals. A very soft 10-foot-thick zone of intense light green talc alteration extended from 127 to 137 feet deep. Disseminated sulfides, mainly concentrated along veinlets, are hosted in the serpentinite throughout the hole. The sulfides consist of pyrite, chalcopyrite, pyrrhotite, pentlandite, and bornite. Carbonate or calcite, dolomite and magnesite alteration occur along fracture
A handheld XRF analyser detected nickel, chromium, titanium, and lesser amounts of copper, zinc, and manganese in the disseminated sulfides concentrated along veinlets.
Quesnel Nickel/Magnesium Project Highlights:
There are 3 BC MINFILE occurrences as follows:
Historical records indicate four widely separated areas of talc alteration along a 1.4- kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do-Creek, the Company will be further investigating the other three known areas of talc alteration for the presence of nickel this season.
Fontaine Lode Gold Exploration Plan:
Last year, the UAV magnetic survey identified many anomalies in the area. This year, the exploration crew will take soil and rock samples from the area of those magnetic anomaly locations. Meanwhile, the vein structures, outcroppings, and mineral showings will be recorded and mapped. A backpack drill will be utilized to execute strategic drilling on the outcrops to investigate for occurrences of mineralization. The project geologist will summarize the previous historical mining activities and exploration records and plot all the records on map, to verify the historical records during the 2022 field season.
Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned high-grade Fontaine Gold Project, Quesnel Nickel/Magnesium Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
Green River Gold Corp. Mr. Perry Little - President and Chief Executive Officer perry.little@greenrivergold.ca 780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126118
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that the 2022 exploration drilling program has started at its Quesnel NickelMagnesium project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.
The first phase of the 2022 exploration drilling program will consist of 3 drill holes, approximately 100 meters each, using a portable Winkie drill purchased by the Company late in 2021. The drill sites are being accessed from a major logging road, travelling by snowmobile for the last 3km.
The map that follows shows the locations of the drill holes.. The map also shows the area that will be covered by a new UAV-MAG survey which has been commissioned and which is due to commence later this month.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/7403/123398_148b75b674f8d8af_002full.jpg
During the 2021 exploration drilling 9 shallow holes were drilled from a talc outcropping. The assay results for the first of the nine holes were previously released. The hole intercepted 17.80% Magnesium, 0.18% Nickel and 0.15% Chromium over 15 meters beginning right at surface. (see News Release dated April 20, 2022 for more details). Assay results for additional holes are pending and expected very shortly.
Kyle Townsend, Mine Manager for Green River Gold Corp. comments "We are excited to drill these deeper holes on the Project. While much time was spent studying the potential for a talc mine on the property in the 1980's, the holes drilled were all shallow, as were the initial holes drilled by Green River. This is the first time that anyone has attempted to drill this deep on the Quesnel Nickel/Magnesium Project. Our intent is to determine whether the talc occurrence continues to at least one hundred meters and whether the nickel and magnesium content is consistent. This program, combined with the recently commissioned UAV-MAG survey will determine the scale and location of the next phase of drilling."
The previously completed UAV-MAG survey results over the Quesnel Nickel/Magnesium Project area indicated the presence of highly magnetic rocks co-incident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage. These results are similar to the aeromagnetic response in the area of nickel-alloy mineralization found throughout the BC Decar District.
The elevated elements are hosted in serpentinized ultramafic rocks belonging to the Slide Mountain Terrane.
Quesnel Nickel/Magnesium Project Highlights:
There are 3 BC MINFILE occurrences as follows:
Historical records indicate four widely separated areas of talc alteration along a 1.4- kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do- Creek, the Company will be further investigating the other three known areas of talc alteration for the presence of nickel this season.
Additionally, there will be some upcoming exploration plans for the Fontaine Lode Gold Project, which is contiguous to the Quesnel Nickel/Magnesium Project and is also contiguous to Osisko Development Corp.'s Cariboo Gold Project. Plans are also being made for exploration on the Company's Kymar Silver Project in southeast B.C. later in the Summer.
Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned high-grade Fontaine Gold Project, Quesnel Nickel/Magnesium Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
Green River Gold Corp. Mr. Perry Little - President and Chief Executive Officer perry.little@greenrivergold.ca 780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123398
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Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that it has received the most recent batch of assay results and is now able to present the summary of results from the first shallow hole assayed on its Quesnel NickelMagnesiumTalc Project. The hole was one of nine shallow holes drilled directly from surface from a talc outcropping. Assay results are still pending for the other eight shallow holes. XRF gun samples from all nine holes were very similar.
The following table presents the assay results for each of the one-meter intervals that were sent for assay from the 15-meter hole known as Do-21-06.
The map that follows shows the locations of the nine shallow drill holes. The Company will be drilling three longer drill holes in the same vicinity using a portable Winkie Drill capable of reaching depths over 100 meters as soon as ground access conditions allow. That is expected to occur within the next couple of weeks. The map also shows the area that will be covered by a new UAV-MAG survey which has been commissioned and which is due to commence in early May.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/7403/120993_4b5936a834dd6a57_002full.jpg
The talc occurrence that is host to the current drilling program has been traced over a length of 1.4 kilometers along the magnetic anomaly by prior exploration. (ARIS Assessment Report 15729) The depth of the talc occurrence is unknown. The previous holes that were drilled in the 1980's only went to 17 meters. The holes drilled in Green River's first round of drilling were also shallow holes. All holes ended in mineralization and the amount of talc appears to increase at depth.
Green River's President and CEO, Perry Little comments, "We are thrilled to be moving forward with the next phase of exploration on the Project. The excitement surrounding nickel and other strategic minerals like magnesium is continuing to build, prices are strong, and recent announcements of support for the industry from the Federal Government are very encouraging. The recent budget announced $3.8 billion in support, on a cash basis, starting in 2022-23 to implement Canada's first Critical Minerals Strategy. Combined with the introduction of a new 30% Critical Mineral Exploration Tax Credit, the timing of our exploration program could hardly be better. Our target area has some size to it and the early results are very encouraging, especially starting right from surface."
The following map indicates the potential area of the magnetic anomaly, based on historical work and knowledge of the regional faults and existing magnetic imagery. The potential area that Green River is dealing with may exceed 20 square kilometers as indicated on the map. Additional drilling and exploration plans are being developed and will be finalized based on the results of the deeper holes to be drilled in the next few weeks and the results of the additional UAV-MAG survey.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/7403/120993_4b5936a834dd6a57_003full.jpg
The previously completed UAV-MAG survey results over the Quesnel Nickel Project area indicated the presence of highly magnetic rocks co-incident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage. These results are similar to the aeromagnetic response in the area of nickel-alloy mineralization found throughout the BC Decar District.
The elevated elements are hosted in serpentinized ultramafic rocks belonging to the Slide Mountain Terrane.
Quesnel Nickel/Talc Project Highlights:
There are 3 BC MINFILE occurrences as follows:
Historical records indicate four widely separated areas of talc alteration along a 1.4-kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do- Creek, we will be further investigating the other three known areas of talc alteration for the presence of nickel this season.
Additionally, there will be some upcoming exploration plans for the Fontaine Lode Gold Project, which is contiguous to the Quesnel Nickel Project and is also contiguous to Osisko Development Corp.'s Cariboo Gold Project. Plans are also being made for exploration on the Company's Kymar Silver Project in southeast B.C. later in the Summer.
Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned high-grade Fontaine Gold Project, Quesnel Nickel/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,440 hectares, along the southeast flank of Mount Catherine.
Green River Gold Corp. Mr. Perry Little - President and Chief Executive Officer perry.little@greenrivergold.ca 780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120993
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Kinross Gold Corporation (TSX:K; NYSE:KGC) ("Kinross" or the "Company") today announced the appointment of Claude Schimper as Executive Vice-President and Chief Operating Officer, effective immediately. Paul Tomory, Executive Vice-President and Chief Technical Officer, will be leaving the Company on August 31, 2022 to pursue new opportunities.
In his new role, Mr. Schimper will be responsible for the operational success of the Company's recently re-positioned portfolio, with approximately 70% of Kinross' production now based out of the Americas.
Mr. Schimper has more than 30 years of mining experience and first joined Kinross in 2010, holding progressively more senior operational roles within the Company, most recently as Executive Vice-President, Operations with oversight of the Russia and West Africa regions. He was also Vice-President and General Manager, Kupol before assuming the leadership of the Company's Russia region in 2014. Previous to Kinross, Mr. Schimper was the Chief Operating Officer for Balkan Resources Inc., and also held positions at Placer Dome, Canada, and several South African mines including AngloGold Ashanti's Mponeng gold mine. Mr. Schimper received a South African National Higher Diploma in Metalliferous Mining from the Technikon Witwatersrand in Johannesburg, South Africa.
"With this new appointment, Claude will take charge of our re-positioned portfolio, and bring an enhanced focus on our operational commitments while continuing to prioritize safety. He is a veteran of this industry whose significant experience and insights will be invaluable as we look to further optimize our operations to ensure we safely deliver on our goals," said J. Paul Rollinson, President and Chief Executive Officer. "On behalf of our employees and the Board, I would like to thank Paul Tomory for his leadership and many important contributions to Kinross, from the successful completion of the Tasiast Phase One expansion, to the development of our major project pipeline, and wish him success in his future endeavours."
Ned Jalil will take on an expanded role as Senior Vice-President, Technical Services, to lead Kinross' Technical Services function, reporting directly to Paul Rollinson. He will oversee project development, exploration, geology, mine planning, operations strategy and the supply chain functions, bringing his technical expertise and over 25 years of international leadership and experience in strategic operations and engineering to his role. Mr. Jalil rejoined Kinross in January 2022, having previously held various leadership roles, most notably directing the strategic planning and technical services of the Company's tier one Paracatu mine and delivering the site's successful asset optimization initiative. Most recently, he served as Chief Operating Officer at Atlantic Nickel and Mineração Vale Verde, where he oversaw the Santa Rita nickel mine and the Serrote copper project.
"These new appointments will enhance oversight of our operations, projects and technical services groups as we optimize our re-positioned portfolio and move ahead with our growth strategy," said Mr. Rollinson. "With the increased operational technical bench strength and expertise on our leadership team, we will be prioritizing thoughtful, balanced planning to consistently deliver on our commitments. These commitments include an expected production increase next year and an average of two million gold ounces of production per year over the remainder of the decade."
Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, Ghana and Canada. Our focus on delivering value is based on our core principles of responsible mining, operational excellence, disciplined growth and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).
Media Contact Louie Diaz Vice-President , Corporate Communications phone: 416-369-6469 louie.diaz@kinross.com
Investor Relations Contact Chris Lichtenheldt Vice-President, Investor Relations phone: 416-365-2761 chris.lichtenheldt@kinross.com
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in or made in this presentation, including but not limited to any information as to the future performance of Kinross, constitute "forward looking statements" within the meaning of applicable securities laws, including the provisions of the Securities Act (Ontario) and the provisions for "safe harbor" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this presentation. Forward-looking statements contained in this presentation include, without limitation, statements with respect to guidance for production and project development. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic, legislative and competitive risks and uncertainties and contingencies. Many of these risks and uncertainties and contingencies can affect, and could cause, Kinross' actual results to differ materially from those expressed or implied in any forward looking statements made by, or on behalf of, Kinross. Such risks and uncertainties include, but are not limited to: operational or technical difficulties in connection with development, mining or processing activities; the volatility of prices of gold and silver; uncertainty of mineral reserve and mineral resource estimates; the speculative nature of gold exploration and development including, but not limited to, the risks of obtaining necessary licenses and permits; foreign exchange rate fluctuations; and risks associated with operating in foreign jurisdictions, including government relations risks. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward looking statements made in this presentation are qualified by these cautionary statements, and those made in our filings with the securities regulators of Canada and the U.S., including but not limited to those cautionary statements made in the "Risk Factors" section of our most recently filed Annual Information Form, the "Risk Analysis" section of our FYE 2021 Management's Discussion and Analysis, and the "Cautionary Statement on Forward-Looking Information" in our news release dated July 27, 2022, to which readers are referred and which are incorporated by reference in this presentation, all of which qualify any and all forward ‐ looking statements made in this presentation. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward ‐ looking statements or to explain any material difference between subsequent actual events and such forward ‐ looking statements, except to the extent required by applicable law.
Source: Kinross Gold Corp oration
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Challenger Exploration (ASX: CEL) (“CEL” or the “Company”) has released its Quarterly Cash Flow Report.
Click here for the full ASX Release
This article includes content from Challenger Exploration, 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.
Challenger Exploration (ASX: CEL) (“CEL” or the “Company”) is pleased to provide its Quarterly Activities Report for its Gold and Copper projects in Argentina and Ecuador for the period ended 30 June 2022 (“Quarterly”, “Reporting Period”).
Net spend during the quarter was $10.0m which included net exploration expenditure of $9.2 million, including approximately $1.7m Argentinian VAT which will be recouped, and administration and corporate costs of approximately $0.8 million. The exploration expenditure was primarily drilling and assay expenditure which accounted for 80% of the total exploration spend. Director associated fees of $100,000 was paid to related parties. During the quarter the Company had 9-rigs at Hualilan for 37,036 metres drilled and 2 rigs completing 6,440 metres in Ecuador for total drill metres of 43,476 metres.
Challenger had cash at the end of the quarter of $10.4m. With 201,500 metres of the 204,000 metre drill program at Hualilan now completed, the rig count has been decreased to from 9 -rigs to 3-rigs in Argentina with the 2-rigs maintained in Ecuador. Quarterly budgeted drill metres are approximately one third of the June quarter. Accordingly net spend for the next two quarters will reduce significantly.
Assay results for 53,000 metres of drilling at Hualilan that remain pending are anticipated to be received progressively over the next 4 months. The lesser rig count at Hualilan will allow the company the resources to undertake an extensive program of surface channel sampling, as several roads installed for drill rig access at Hualilan have uncovered surface mineralisation. Additionally, the Company will begin economic studies once the updated Hualilan MRE, that will be based on the entire 204,000 metre drill program, has been completed.
The drill program in Ecuador will remain unchanged with both rigs focussed on the main discovery zone at the GY-A anomaly, El Guayabo, from August. This additional 25,000 metres is designed to produce a maiden MRE in accordance with the JORC Code from the 100% owned GY-A anomaly.
Cerro Sur Looking north showing drill rig access roads both into the Hualilan Hills and on the plains
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This article includes content from Challenger Exploration, 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.
New team makes strong start with reviews of gold and lithium assets delivering highly promising results; Assays pending on spodumene-bearing pegmatite samples; Lithium and gold drilling programs being planned
Kairos Minerals Limited (ASX:KAI) is pleased to present its quarterly report for the period ending in June 30, 2022.
Kairos’ flagship, the 100 per cent-owned Mt York Gold Project, located 1.5 hours drive south of Port Hedland, was the focus of exploration work during the quarter. Final results from the 2021 RC drilling program comprising 95 drill holes were received and announced during the quarter.
This programme concentrated on the main Mt York Trend comprising Main Hill, The Gap, Breccia Hill and Gossan Hill but also included drilling the satellite deposits of Old Faithful, Green Creek, Iron Stirrup, Zakanaka and Batavia.
Click here for the full ASX Release
This article includes content from Kairos Minerals , 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.
It can be tempting for investors to focus on specific assets, but it’s important to include some diversification to act as a hedge and balance out potential instability.
For many market participants, gold has a reputation for being a reliable investment diversifier due to the fact that it has the ability to act as a hedge against volatility.
Here’s a look at how the yellow metal allows for diversification and why it is a good hedge, plus an explanation of how to use gold as a portfolio hedge.
The yellow metal is looked at as a hedge investment in many different situations, but to understand why it can be a good hedge, it’s useful to break down what exactly a hedge is. A hedge is an investment position whose main purpose is to offset potential losses or gains related to another asset.
The first and most popular use of gold as a source of protection is when investors use it to hedge against the decline of a currency, typically the US dollar. When the dollar slips, the yellow metal not only becomes less expensive to hold, but also tends to rises in value.
“Gold’s relationship with the dollar is determined by US-based gold supply and demand, as well as by the status of the dollar as the reserve currency globally,” states the World Gold Council. “Historically, a weak dollar tends to provide a stronger boost to gold’s performance than the drag created by a strong dollar.”
By holding the precious metal as a diversification tool when the economy negatively affects currencies, investors can incur gains from the metal’s increased value.
Additionally, gold can also act as a defense against inflation. This is the second reason why gold makes a good hedge — its resilience in the face of inflationary environments. When the cost of living begins to rise, the stock market tends to plunge. In those cases, investors with assets that are negatively affected by a volatile market need something to balance that out — that’s where gold comes in.
Over the past 50 years, investors have seen gold make huge gains when the stock market is crumbling. As Investopedia points out, “This is because, when fiat currency loses its purchasing power to inflation, gold tends to be priced in those currency units and thus tends to arise along with everything else.”
Interestingly, the yellow metal has also been used as a hedge against deflation. This situation has not occurred since the Great Depression of the 1930s (and to a much smaller degree after the 2008 financial crisis); it happens when prices drop, the economy is in a downturn and excessive debt looms.
Market participants may decide to hoard cash in this type of scenario, and the safest place to hold cash is in gold. Again, while this situation is not commonplace, many investors keep the yellow metal in their portfolios on the off chance that another massive period of deflation takes place.
Finally, gold investing can be used as a general portfolio hedge when market participants hold investments that are not related to one another. Since the precious metal has a history of having a negative correlation to stocks, bonds and other financial instruments, investors often diversify by owning a portfolio that combines gold with stocks and bonds in order to reduce both volatility and risk.
While it is true that the yellow metal goes through times of volatility, its spot price has always maintained its value over the long term, making it a steady addition to investors’ portfolios.
Investors who have decided to add gold to their portfolio as a hedge have a variety of options. Here’s a look at three of the most popular ways of getting exposure to the yellow metal.
Physical gold investors are generally looking for 0.999 fine items. Several products fit this description, and one of the most preferred is gold bullion coins, such as the South African Krugerrand or the American Gold Eagle. Another option is gold rounds, which are similar to coins, but are not legal tender.
Gold bars are another popular option. They come in a variety of sizes, so this category of products can accommodate a range of investors.
Large investments may best be made in bars since bigger sizes are available. Further, it is often easier to manage large products than it is to manage an array of smaller gold items.
Gold buyers will want to keep their plans to sell in mind — for example, large products may be more difficult to sell in some instances. Individuals making ongoing or significant investments may therefore want to consider purchasing gold in various weights.
If you are looking to purchase physical gold as a hedge in your portfolio, it can be done through government mints, private mints, precious metals dealers and even jewelry stores.
Click here to learn more about physical gold as an investment.
One of the common ways in which investors add gold as a hedge is through investing in a gold ETF.
Gold ETFs trade like stocks on an exchange and offer exposure to different aspects of the gold market. For instance, some ETFs focus solely on physical gold bullion, while others focus on gold futures contracts. Still others focus on the gold-mining market itself or follow live prices for the metal.
It is important to keep in mind that investors who own gold ETFs do not own any physical gold — even gold ETFs that track physical gold generally cannot be redeemed for tangible yellow metal.
Nonetheless, gold ETFs are a good option for getting exposure to the precious metal without personally trading physical gold, gold futures or gold stocks.
Click here for a list of five popular gold ETFs, and here for more information on gold ETFs.
A futures contract is an agreement to buy or sell gold on a date in the future for a price determined when the contract is initiated. The futures market is often referred to as an arena for paper trading. The bulk of the activity is just that, as metal is not actually exchanged and settlements are made in cash.
In some cases, the futures market can be an arena for purchasing physical gold. However, obtaining gold through the futures market requires a large investment and involves a list of additional costs. The process can be complicated, cumbersome and lengthy, which is why this option is considered best for highly experienced market participants.
Click here to learn more about gold futures.
This is an updated version of an article first published by the Investing News Network in 2019.
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.
B2Gold Corp. (TSX: BTO), (NYSE AMERICAN: BTG), (NSX: B2G) ("B2Gold" or the "Company") will release its second quarter of 2022 financial results after the North American markets close on Wednesday, August 3, 2022.
B2Gold executives will host a conference call to discuss the results on Thursday, August 4, 2022 , at 10:00 am PDT / 1:00 pm EST . You may access the call by dialing the operator at +1 (778) 383-7413 / +1 (416) 764-8659 ( Vancouver / Toronto ) or toll free at +1 (888) 664-6392 prior to the scheduled start time or you may listen to the call via webcast by clicking here . A playback version will be available for two weeks after the call at +1 (416) 764-8677 (local or international) or toll free at +1 (888) 390-0541 (passcode 652410 #).
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada . Founded in 2007, today, B2Gold has operating gold mines in Mali , Namibia and the Philippines and numerous exploration and development projects in various countries including Mali , Colombia , Finland and Uzbekistan .
On Behalf of B2GOLD CORP. " Clive T. Johnson " President & Chief Executive Officer
For more information on B2Gold, please visit the Company website at www.b2gold.com or contact:
Senior Vice President, Legal & Corporate
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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/28/c2914.html
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