Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy Metals" or "the Company") will hold the Company's 2022 Annual General Meeting of the Shareholders ("AGM") on Friday, May 13, 2022 at 10:00 am Pacific Time at the office of the Company, Suite 1150, 609 Granville Street, Vancouver, British Columbia .
All current directors will stand for re-election at the AGM. Other items of business include the approval of amendments to, and unallocated entitlements under, the Company's Restricted Share Unit Plan ("RSU Plan") and Deferred Share Unit Plan ("DSU Plan"). The Company is asking shareholders to approve a change to the RSU Plan to remove the option for the Company to cash settle RSUs granted to Canadian resident directors due to potential Canadian tax restrictions. The Company is asking shareholders to approve a change to the DSU Plan to allow directors to elect to receive up to 100% of their annual compensation in DSUs. Both these amendments will provide the Company flexibility to pay our directors fees in the form of stock in an effort to preserve cash and build share ownership. All of our directors have indicated a willingness to receive their entire 2022 compensation in equity. The Company is also looking at other opportunities to reduce its cash spend for the year and will provide a further update when we release our quarterly financial results in April.
Shareholders as of the record date of March 16, 2022 ("Record Date") will be eligible to vote at the AGM. The Company's 2022 Management Information Circular, which contains information about all director nominees and the amendments to the RSU and DSU Plans was filed today and is now available to the public. As always, we encourage you to vote your shares prior to the AGM.
No presentations or updates on the Company's activities will be provided at the AGM. The Company's most recent investor presentation can be found on our website at www.trilogymetals.com . Any investor who would like further information on the items of business at the AGM or the Company's activities is welcome to contact us directly.
Additional information about the AGM can be found in the Company's 2022 proxy statement, which has been filed the U.S. Securities and Exchange Commission ("SEC") and the Canadian securities regulatory authorities. The Management Information Circular is available on the Company's website at https://trilogymetals.com/investors/proxy-circular and on the Company's profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov ; and has been mailed to all shareholders as of the Record Date.
The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company's shareholders in connection with the Company's 2022 AGM. The Company has filed its definitive proxy statement with the SEC in connection with any such solicitation of proxies from the Company's shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY WILL CONTAIN IMPORTANT INFORMATION.
Trilogy Metals Inc. is a metals exploration and development company which holds a 50 percent interest in Ambler Metals LLC ("Ambler Metals") which has a 100 percent interest in the Upper Kobuk Mineral Projects ("UKMP") in northwestern Alaska . On December 19, 2019 , South32 Limited, which is a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy to form Ambler Metals. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler mining district - the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within land package that spans approximately 172,636 hectares. The Company has an agreement with NANA Regional Corporation, Inc., a Regional Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler mining district in cooperation with local communities. Our vision is to develop the Ambler mining district into a premier North American copper producer.
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, perceived merit of properties, the date and time of the AGM, the willingness of the Company's director to receive their compensation in equity, the Company's plans to look for opportunities to reduce its cash spend for the year and the Company's plans to provide further updates and the timing thereof are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the uncertainties involving our assumptions with respect to the impact of the novel coronavirus (COVID-19) and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2021 filed with Canadian securities regulatory authorities and with the United States Securities and Exchange Commission and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.
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VANCOUVER, Oct. 27, 2016 /PRNewswire/ – Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), formerly NovaCopper Inc., is pleased to announce drill results and provide a project update from its 2016 summer field program at the Arctic poly-metallic volcanogenic massive sulphide (VMS) deposit, part of the Upper Kobuk Mineral Projects (UKMP) located in the Ambler mining district of Northwest Alaska. All amounts are in United States dollars unless otherwise stated.
The majority of this year’s project budget of US$5.5 million was spent on a drilling program at the Arctic Project that included 3,058 meters of drilling for geotechnical, hydrological, waste rock characterization and metallurgical studies as well as further resource definition. In addition to the drilling program, a series of environmental studies were conducted over the UKMP. The LiDAR survey that was incomplete last year due to weather conditions was also completed during the summer. This site investigation work will form the basis for completing a future pre-feasibility study on the Arctic deposit.
Highlights from the Drill Program
Based on a cut-off grade of 0.7% copper, significant zones of high grade copper, gold, silver, lead and zinc mineralization were intersected – including:
“We are pleased to announce another highly successful and safe field season at our high grade Arctic deposit. We had Zero Loss Time Incidents, no environmental incidents and maintained a high percentage of local NANA shareholder hire. We continue to see exceptional high grades of copper, zinc and precious metals reported for all in-fill drill holes. The results demonstrate the continuity of multiple high grade zones of copper, zinc and precious metals,” stated Rick Van Nieuwenhuyse, President and Chief Executive Officer for Trilogy Metals. “By completing an array of studies, including geotechnical for pit-slope stability, hydrology, waste rock characterization, environmental and metallurgy, we continue to advance Arctic towards a pre-feasibility level of study which will demonstrate that Arctic is one of the highest grade, open pitable copper deposits in the world. By having exposure to copper, zinc and precious metals, the Company maintains its flexibility as we advance this project up the value chain. Meanwhile, the Alaska Industrial Development and Export Authority (AIDEA) continues to advance permitting of the Ambler Mining District Industrial Access Project (AMDIAP) – a road connecting the Ambler mining district to a year-round port at Port Mackenzie.”
Connect with Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ) to receive an Investor Presentation.
VANCOUVER , Oct. 6, 2016 /CNW/ – Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), formerly NovaCopper Inc., announces its financial results for the third quarter ended August 31, 2016 . Details of the Company’s financial results are contained in the unaudited consolidated financial statements and Management’s Discussion and Analysis which will be available on the Company’s website at www.trilogymetals.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are inUnited States dollars unless otherwise stated. Corporate and Project Update Name Change In September 2016 , we changed our name to Trilogy Metals Inc. to better reflect our Company’s naturally diversified resource base. The Company’s Upper Kobuk Mineral Projects (“UKMP”) are located in the Ambler mining district in northwest Alaska ; a region known to host deposits rich in copper, zinc, lead, gold and silver. The Company controls the mineral rights to approximately 353,000 acres of land containing two known mineral belts, the Ambler Schist Belt and the Bornite Carbonate Sequence. The Ambler Schist Belt hosts volcanogenic massive sulphide (“VMS”) type mineralization occurring as a series of high-grade polymetallic copper-lead-zinc-gold-silver deposits along the entire 100 kilometer (70 mile) long belt. The Bornite Carbonate Sequence hosts several copper replacement targets around the Aurora and Pardner Hill prospects, in addition to an established resource identified at Bornite. Mineralization at Bornite is open to further exploration. The shareholders had previously voted in favour of the change of the Company’s name to Trilogy at our annual and special meeting of shareholders held on May 18, 2016 . Upper Kobuk Mineral Projects In early August 2016 , we wrapped up another successful season advancing the Arctic deposit towards pre-feasibility. The majority of the 2016 project budget of $5.5 million was spent completing a 3,058 metre drill program at the Arctic Project to support geotechnical, hydrological, waste rock characterization and metallurgical studies, as well as resource definition. Substantial field work was also completed to support the continuation of baseline environmental data collection. During the course of the field season, data collection was completed to support an aquatic survey, an avian and large mammal habitat survey, an archaeological survey and expansion of the wetlands delineation and surface quality work. The remaining thirty percent of the LiDAR survey (used to obtain high resolution topographic data) over the UKMP, initiated during the last field season, was completed. The site investigation work completed in 2016 will form the basis for the completion of studies this fall and a future pre-feasibility study on the Arctic deposit. Drill assay results are expected to be released during the fall of 2016. Sale of Sunward and the Titiribi Project On September 1, 2016 , Trilogy closed the sale of all of the issued and outstanding shares of Sunward Investments Ltd. (“Sunward Investments”) to Brazil Resources Inc. (“BRI”) for consideration of 5,000,000 common shares of BRI, of which 2,500,000 common shares are subject to a six month holding period, and 1,000,000 BRI warrants, with each warrant exercisable into one common share of BRI for a period of two years from the closing date at an exercise price of Cdn$3.50 for total consideration valued at approximately$8.1 million . Sunward Investments, through a subsidiary, owns 100% of the Titiribi gold-copper exploration project located approximately 70 kilometers southwest of the city of Medellin , in Antioquia Department, Colombia . Trilogy acquired Sunward Investments and the Titiribi project as part of its acquisition of Sunward Resources Ltd. (“Sunward”) in a business combination which closed on June 19, 2015 . The Company reclassified the net assets of Sunward Investments as an asset held for sale and its operations as a discontinued operation, retrospectively, in its third quarter financial statements. The Company expects to realize a gain on the sale of approximately$4.4 million in the fourth quarter of 2016. Connect with Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ) to receive an Investor Presentation.
What does a name say about a company? Management of NovaCopper Inc. feels that its corporate moniker does not say enough about the diversity of metals present in the high-grade deposits encompassed by its Upper Kobuk Minerals Projects in the Ambler mining district of Northwest Alaska. Arctic, the most advanced UKMP deposit, actually hosts more zinc than it does copper. And, while copper remains the dominant metal in terms of value, zinc supply shortages are closing the price gap between these two metals. Additionally, strong gold and silver prices have increased precious metals contributions to Arctic’s value this year. “The Ambler district is more than just copper – it is copper; it’s zinc; (and) it’s precious metals,” NovaCopper President and CEO Rick Van Nieuwenhuyse explained in a recent interview. As such, when markets open in Toronto and New York Sept. 8, NovaCopper Inc. will be no more. In its place, Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), will grace the boards of the Toronto Stock Exchange and NYSE-MKT. NovaCopper shares under the previous symbol, NCQ, will seamlessly transition to Trilogy Metals shares, requiring no action for current shareholders. Transition to Trilogy Spun out of Novagold Resources Ltd. in 2012 to continue the exploration of Arctic and Bornite, two of the highest grade un-mined copper deposits in the world, NovaCopper was a natural choice for the Ambler mining district focused exploration company. In the months leading up to the formation of NovaCopper, Van Nieuwenhuyse, who was then president and CEO of Novagold, forged a partnership with NANA Regional Corp. that brought together a large package of Novagold-owned mining claims blanketing a 70-mile- (110 kilometer) long belt of high-grade copper-lead-zinc-gold-silver deposits with an adjacent package of NANA-owned lands known for hosting exceptionally high-grade copper. The alliance provides the Inupiat-owned Alaska Native regional corporation with the opportunity to benefit from the exploration and eventual development of the world-class Arctic deposit and other similar volcanogenic massive sulfide prospects across the Ambler belt. In return, NovaCopper was given the opportunity to investigate Bornite, a copper-rich deposit situated about 16 miles (26 kilometers) southwest of Arctic, and explore other mineral prospects across a large highly prospective swath of NANA lands in the Upper Kobuk region. Over the ensuing four years, the partnership and the mineral endowment found on the 353,000 acres of UKMP lands has grown. Today, the Arctic and Bornite deposits together are believed to host roughly 8.4 billion pounds of copper; 2.6 billion lbs. of zinc; 610,000 oz. of gold; 45.3 million oz. of silver; as well as significant quantities of lead and cobalt. It is the natural diversity this broad range of metals – especially the zinc and precious metals components of Arctic, the UKMP deposit nearest to a production decision – that prompted the transition to the new name of Trilogy Metals. Arctic focus Over the past two years, the rebranded company has focused its field work on gathering the last bits of information needed to complete a pre-feasibility study that will outline plans to develop an open pit mine at Arctic. A roughly 3,000-meter drill program at Arctic was the biggest ticket item of this year’s field program. Prior to a similar infill drill program completed last year, Arctic hosted 23.85 million metric tons of indicated resource averaging 3.26 percent (1.71 billion lbs.) copper, 4.45 percent (2.34 billion lbs.) zinc, 0.76 percent (400 million lbs.) lead, 0.71 grams per metric ton (550,000 oz.) gold, and 53.2 g/t (40.8 million oz.) silver. This VMS deposit also contains an estimated 3.63 million metric tons of inferred resource averaging 3.22 percent (239 million lbs.) copper, 3.84 percent (285 million lbs.) zinc, 0.58 percent (43.2 million lbs.) lead and 0.59 g/t (60,000 oz.) gold. “What is so spectacular about Arctic is it hosts really fantastic grades,” said Van Nieuwenhuyse. Drilling over the past two seasons has focused on upgrading much of the inferred resources to the higher confidence measured and indicated categories; some pit expansion drilling; and holes targeted to collect pit slope stability, hydrology and metallurgical information. Thanks in part to great weather at Arctic this year, the 2016 program came in under the US$5.5 million budgeted for the field work. Trilogy Metals is expected to release results from this drilling and the other field work in October. Advancing Ambler When Trilogy Metals returns to the Ambler district in 2017, the company plans to complete the geotechnical work needed to further refine locations for a power plant, mill, waste rock pile, stockpiles and tailings facilities for the Arctic mine plan to be detailed in the prefeasibility study. The renamed company also would like to resume drilling at Bornite, a copper-rich carbonate replacement deposit that is reminiscent of those found in the African Copper Belt of southern Africa and the Mt. Isa district of Queensland, Australia. Using a 0.50 percent copper cutoff grade, Bornite now hosts an estimated 40.5 million metric tons of in-pit indicated resources averaging 1.02 percent (913 million pounds) copper; and 84.1 million metric tons of inferred resources averaging 0.95 percent (1.8 billion lbs.) copper. Additionally, at a 1.50 percent copper cutoff grade, Bornite is estimated to contain 57.8 million metric tons of below-pit inferred resources averaging 2.89 percent (3.7 billion lbs.) copper. While already world-class in terms of both size and grade, the various zones of Bornite are open to expansion in several directions. The most compelling area is a 1,000-meter-wide stretch of continuing high grades along the northern front. Hole RC13-0220, the most northeasterly hole drilled at Bornite cut three very high-grade intervals from 877 to 923 meters (at a 2.0 percent cutoff): 5.9 meters of 6.66 percent copper; 9.9 meters of 2.48 percent copper; and 19.7 meters of 2.24 percent copper. Hole RC13-0224, drilled about 800 meters west of hole 220, cut five high-grade intercepts from 579 meters to 755 meters along this northern front: 19.5 meters of 3.02 percent copper; 16.8 meters of 2.36 percent copper; 39.5 meters of 2.37 percent copper; 8.6 meters of 3.26 percent copper; and 6.5 meters of 7.7 percent copper. Trilogy believes that continued expansion in this direction could put the grades and size of its Ambler deposits on par with Mount Isa, where more than 400 million metric tons of ore grading 2.12 percent copper has been mined over the past 75 years. Financial footing An innovative financing completed last year puts Trilogy Metals in a good position to finish the pre-feasibility work at Arctic and continue exploration at Bornite. In mid-2015, the company closed the buyout of Sunward Resources Ltd., a fellow exploration company with roughly US$20 million in the bank but a market cap hovering around US$13 million. In exchange for the cash and Sunward’s Titiribi gold-copper project in Columbia, NovaCopper issued 43.1 million shares to Sunward shareholders. When Trilogy Metals lights up the boards of the TSX and NYSE-MKT exchanges, it will have nearly US$10 million of this cash remaining in its treasury. Adding to this strong financial footing, the company cut a deal in mid-August to sell the Titiribi property to Brazil Resources Inc., an exploration company with a growing portfolio of gold and copper properties in South America and Alaska. In exchange for the Columbia gold-copper property, Trilogy will hold 5 million Brazil Resources shares. With a 50-day moving average of C$2.60 per share, these shares are currently worth about C$13 million. “While we believe the Titiribi property has excellent exploration potential and a strong local team, the sale allows NovaCopper (Trilogy) to focus on its high-grade copper, zinc and precious metals projects located in Northwest Alaska,” said Van Nieuwenhuyse. Connect with Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ) to receive an Investor Presentation.
Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") is pleased to announce that it has retained Proactive Investors North America Inc. ("Proactive") to provide the Company media and research services (the "Services") for an initial period of 13 months (the "Initial Term"), subject to the terms of the services agreement (the "Agreement").
Elmer B. Stewart, President and CEO of Copper Fox stated, "The services provided by Proactive will act as the core of the $145,000 allocated as part of the 2022 Investor Relations Program established by Copper Fox. In addition to the Services provided by Proactive, Copper Fox plans to pursue other investor relations activities on an as and when basis to augment the Services provided by Proactive."
The Company is engaging Proactive to increase general market awareness of Copper Fox and has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange ("TSXV") and the OTCQX Market ("OTCQX") in connection with the Services. The Services may include Investor Relations Activities as such term is defined under the Policies of the TSXV and OTCQX, and the Agreement may be subject to the approval of the TSXV and/or OTCQX. Proactive will receive a total of $49,376 CAD plus applicable taxes for the Servicespayable in two equal installments on April 1, 2022 and October 1, 2022. The fee to be paid by the Company to Proactive is for the Services only. The Company and Proactive act at arm's length, and Proactive has no interest, direct or indirectly, in the Company or its securities or any right or intent to acquire such an interest.
The Services shall include comprehensive coverage of officially released news and other developments of the Company, plus interviews in video and written formats, with all content to be featured on Proactive websites, social media pages and further distributed through their multinational network of syndication partners. Proactive will also provide digital advertising services, a dedicated full time research analyst, a detailed analyst report and analyst interview within the Initial Term.
Proactive is a leading multimedia news organization, investor portal and events management company with offices in Vancouver, Toronto, New York, London, Sydney and Perth, please visit their website at www.proactiveinvestors.com for additional information.
Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and the 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox's other mineral properties and investments visit the Company's website at www.copperfoxmetals.com.
On behalf of the Board of Directors
Elmer B. Stewart President and Chief Executive Officer
For additional information contact: Lynn Ball at 1-844-464-2820; 1-403-264-2820; investor@copperfoxmetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about: the pursuant of other investor relations activities; the purpose of the engagement of Proactive; the payment by the Company for the Services and the timing thereof; and the intended content of the Services.
In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: the Services will be provided as expected and will produce the intended results; and the Company will receive all required approvals, if any, in connection with the Agreement. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause Copper Fox's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include among others: required approvals for the Agreement, if any, may not be obtained; the Services performed may not be as expected or may not have the expected results; and the Agreement may be terminated early.
A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118821
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TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act:
The number of issued and outstanding shares of the Company has increased by 1,318,117 to 737,946,627 common shares with voting rights as at March 31, 2022 . The increase in the number of issued and outstanding shares from March 1, 2022 to date is a result of the exercise of employee stock options or the vesting of employee share units.
Lundin Mining is a diversified Canadian base metals mining company with operations in 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 Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on March 31, 2022 at 17:00 Eastern Time .
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VVC Exploration Corporation (" VVC " or the " Company ") is pleased to announce that it has successfully completed and connected its first helium well in the Syracuse Project, known as the Levens #2, to Tumbleweed Midstream's Ladder Creek Pipeline (the "Pipeline"). The Pipeline transports gas to the Ladder Creek Helium Processing Plant in Cheyenne Wells, Colorado.
Located in Hamilton County, Kansas, the Levens #2 is part of the Company's 16,400-acre Syracuse Project. The Levens #2 was successfully drilled to a depth of 2,478 feet and encountered multiple gas zones. Following a period of clean-up and additional analysis over 30-45 days, our technical team will report on the average flow rates, helium percentages and economic viability of this well. This data is expected to be announced when it becomes available in early to mid-May.
"The connection of the Levens #2 well to the Ladder Creek Pipeline is the culmination of a tremendous amount of work by VVC's helium team and represents an inflection point for VVC's helium business. The Syracuse Project wells are the foundation for, and the beginning of, the massive growth in helium production, anticipated to occur by year's end. We are particularly happy with the platform for growth that our professional team has built," commented Jim Culver, VVC President and CEO.
The Syracuse Project is one of the Company's four helium projects, aggregating to approximately 41,000 acres leased, with leasing continuing.
Stockhouse Publishing Pursuant to an arrangement with Stockhouse Publishing Ltd. ("Stockhouse") in August 2021, Stockhouse is assisting VVC with general market outreach and investor awareness as VVC continues to grow its investor base. This arrangement provided VVC with access to over 30 different marketing tools focused on editorial, brand awareness and amplifying news on VVC, in order to reach a larger investor audience. Stockhouse provided us with the opportunity to reach out to the investment community, and create a platform to educate and inform our investors in a more personal manner about the Company's projects.
As provided in the Agreement, VVC intends to settle, as a third tranche, $15,000 of the amount owing for services by the issuance of 125,000 shares at the price of $0.120 per share, being yesterday's market price discounted by 25%. Two other share issuances will occur in three and six months for the remaining $30,000.
The Securities to be issued pursuant to this transaction will be subject to the approval of the TSX Venture Exchange and to the applicable statutory, exchange and regulatory hold period of four months and any other required resale restrictions.
About VVC Exploration Corporation VVC is a publicly traded Canadian-based mining exploration and development company listed on the TSX Venture Exchange (TSX-V:VVC). With the addition of Plateau Helium Corporation ("PHC"), VVC is also a Helium producing company. VVC's portfolio includes the Gloria Copper Project in Northern Mexico, precious metals properties also in Mexico and the Helium Projects owned by its wholly owned subsidiary, PHC. VVC is currently focused on the Helium Projects owned by PHC and will resume the development of Gloria Copper Project, as soon as Covid-19 restrictions are removed in Mexico. To learn more, visit our website at: http://vvcexpl.com
On Behalf of the board of Directors
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others: data is expected to be announced ... in early to mid-May; the massive growth in helium production, anticipated to occur by year's end; etc.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding acquisitions, production of helium, future development and growth, plans for and completion of projects by Company's third-party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, without limitation, operational risks in the completion of Company's anticipated projects, delays or changes in plans with respect to the development of Company's anticipated projects by Company's third-party relationships, risks related to Covid-19, risks affecting the ability to develop projects, risks in legislative changes in the applicable jurisdictions, risks in decrease of price of helium. No assurances can be given that the efforts by Company will be successful.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements, except as required by law.
Investors are cautioned that notwithstanding the expectations described herein, there can be no assurance that the plans described herein will be completed as proposed or that the results will be as expected. Trading in the securities of VVC should be considered highly speculative. All forward-looking statements contained in this press release are expressly qualified in their entirety by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com ).
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Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's exploration team has completed its drilling program on the Company's Smokey Lithium Property in Nevada
As previously noted, the Company's initial 3 of 15-hole drilling exploration aims to prove its geologic concept, specifically, to test along the Jindalee boundary margins, nearest to the fault line to reduce the depths required to reach clays and attempt to capture the full thickness of the claystone, in order to discover the grade and thickness of an intercept.
As no drilling has occurred prior to this program on Smokey Lithium, is it important to sample each hole extensively until basic geochemical data has been acquired.
Drill Program Approach and Initial Highlights
Victory executed an initial program of 3 drill holes with the goal aimed at locating lithium bearing clays, similar to what has been discovered at surface by Jindalee, the neighboring property.
A northeast/southwest oriented fault becomes obscure on either end as it trends into Victory's property. Victory's exploration team theorizes that an extension of the lithium bearing clays, identified by Jindalee, would likely exist under the Victory property. However, pending lab results, it is unknown as to the depths required to intercept this possible lithium enriched clay unit.
The target of the drilling is the regionally mineralized Esmeralda formation sediments which underlie the property. These sediments are composed of a complex suite of lithologies ranging from sandstones, conglomerates, claystones and volcanic ash rich units. Faulting has occurred displacing these sedimentary units and later variably filled with quaternary alluvial materials, namely sands and gravels. The contact between silty, sandy gravel units which are overburden and those belonging to the underlying Esmeralda Formation is not easily seen in the core, further detailed logging is planned once lithium assays have been received.
The results given in the initial 3-hole program yielded variably results and are summarized below:
The goal was to identify lithium bearing, Esmeralda clays within an obscure, alluvial covered surface. Further, adding to the complexity of the task is faulting with unknown displacement. The first 3 holes essentially provides the team with a look into the subsurface. It has been learned that the overburden is relatively superficial cover but is variable in thickness.
Below the recent age cover gravels, thick sections of Esmeralda Formation have been intercepted. The Esmeralda stratigraphy logged from the drill core displays sedimentary units including well developed claystones, mudstones and clay, silt and sand matrix conglomerates.
Further drilling will be required to properly map the subsurface geology of the Esmeralda Formation lithologic package. In particular Victory is focused on mapping the near surface distribution of well mineralized Esmeralda claystones previously identified on the neighboring Jindalee property.
The Company's exploration team is very optimistic, primarily given the logged geologic results of the SL-21-05 drill hole. It demonstrated a thick sequence of claystone/siltstone with minimal overburden. More data is required to address questions as a result of the drilling and observations of the exploration team. Questions include defining the strike and dip orientation of the target, regionally lithium mineralized Esmeralda age section which underlies the property. This will allow for construction of an early-stage geologic model and help guide targets for additional drill programs.
Upon receiving the results of the first drilling phase, the Company remains positioned to carry out additional drilling if the lab data warrants it.
A total of 151 samples have been submitted to ALS for assay work. 4-foot sample intervals were used within the Esmeralda intersections. Further, QA/QC protocols were put into place whereas standards and blanks were inserted randomly within the sample chain, 1 per each 10 samples. ALS Lab results are anticipated to be received in the next couple weeks.
Victory's Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, to the west of American Lithium's flagship lithium project. Smokey Lithium is located northwest of Cypress' Clayton Valley Lithium Project and to the southwest of American Lithium Corporation's Tonopah Lithium Claims Property in southwest Nevada. Esmeralda County Nevada is a prolific region for lithium clay deposits, (Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee).
The technical information contained in this news release has been reviewed and approved by Bob Marvin (PGeo), who is a Qualified Person as defined under National Instrument 43-101.
For further information, please contact:
Mark Ireton, President Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653) E-mail: IR@victoryresourcescorp.com
Victory Resources Corporation (CSE:VR) is a publicly traded diversified investment corporation with mineral interests in North America. The Company is also actively seeking other exploration opportunities.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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Usha Resources Ltd. ("USHA" or the "Company") (TSX-V:USHA)(OTCQB:USHAF) is pleased to announce that it has entered into a mineral property option agreement (the "Option Agreement" or "Transaction") with Ares Strategic Mining Inc. (the "Vendor") of Vancouver, British Columbia, whereby the Company has been granted the exclusive option to acquire a 100% interest in 140 mineral claims located in Jackpot Lake, Clark County, Nevada (the "Property
The Property is located within Clark County, 35 kilometres northeast of Las Vegas, Nevada, and is comprised of 140 mineral claims that total 2,800 acres. The project is exploring a "playa" which appears to be within a closed basin that may contain potentially lithium-rich brines. The geologic model is similar to that of Albemarle's Silver Peak Nevada Lithium Mine which has operated continuously since 1966, and Iconic Mineral's Bonnie Claire Project, which recently released a Preliminary Economic Assessment report (PEA) that indicates 40-year mine with an after-tax NPV8% of 1.5 billion, where sediments from lithium‑rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events.
Figure 1 - Left, location of Jackpot Lake. Right, aerial image of the "playa".
The project is considered to be "drill-ready" based on the following work which has successfully delineated a 5 x 2 kilometre anomaly within a closed basin that suggests the presence of a highly concentrated brine:
The CSAMT Survey and report was conducted and prepared by Hasbrouck Geophysics, who has extensive experience of both surveying and data processing for brine-bearing basin environments across the southwestern U.S.
Figure 2- Left, gravitational surveying outlined the footprint of the Jackpot lithium brine anomaly. Right, CSMAT survey slices showing a cross-section of the anomaly illustrating the highly enriched brines throughout the property in red.
Based on the above, the Company intends on completing an aggressive exploration program by drilling both shallow and deep holes to test the targets outlined by the CSAMT Survey at possible higher concentration brine zones with the goal of completing a 43-101 resource estimate by Q4 of 2022.
Deepak Varshney, CEO of Usha Resources, stated, "We are thrilled to add Jackpot Lake to our growing portfolio of "green" projects and thank Ares for partnering with us to move this project forward. Our goal is to identify high-quality projects that are near or drill-ready with high-upside that can be achieved through the completion of relatively inexpensive work programs. Lithium brine deposits have a significant cost advantage over lithium clay deposits in that lithium mineralization is much less difficult and much less expensive to process. They can also be explored through smaller drilling programs that can result in the Company identifying resource estimates much more economically. The addition of Jackpot means that 2022 will be an extremely active period for USHA with three planned drill programs giving our shareholders a number of potential catalysts across our various projects."
James Walker, CEO of Ares Strategic Mining, stated, "We are pleased to have USHA as a partner for Jackpot. Our goal was to find a well-structured and capitalized company that could move the project forward and look forward to supporting USHA as shareholders and strategic partners."
Under the terms of the Transaction, USHA will be able to acquire a 100% interest in the Property in exchange for the following consideration:
Additionally, the Company will be required to complete no less than $1,000,000 worth of Expenditures on the Claims within two years unless the Option has been exercised in full.
The Vendor will return a 1% Gross Overriding Royalty (the "GORR"), subject to a buyback provision by the Company, whereby the Company may acquire, at any time, one-half of the GORR for $1,000,000.
The Option Agreement and the transactions contemplated therein, including the issuance of the Shares, is subject to the approval of the Exchange. All securities issued in connection with the Transaction will be subject to a four-month-and-one-day statutory hold period.
The technical content of this news release has been reviewed and approved by Mr. Helgi Sigurgeirson, P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
Usha Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada. Usha is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Northwest Ontario, Canada and the Lost Basin Gold Mining District in Mohave County, Arizona, U.S.A. Usha increases shareholder value through the acquisition and exploration of quality precious and base metal properties and the application of advanced state-of-the-art exploration methods. Usha's portfolio of strategic properties provides diversification and mitigates investment risk.
"Deepak Varshney" CEO and Director
For more information, please phone James Berard, Investor Relations, 778-228-2314, email info@usharesources.com, or visit www.usharesources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
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Los Andes Copper Ltd. (TSXV: LA) ("Los Andes" or the "Company") is pleased to announce that it has entered into an agreement with Queen's Road Capital Investment Ltd. (TSXV: QRC) ("Queen's Road Capital") whereby Queen's Road Capital will invest US$4,000,000 in Los Andes by the way of convertible debenture (the "Convertible Debenture").
The Convertible Debenture will have a five-year term, carry an eight percent coupon and will be convertible into common shares in the capital of the Company ("Common Shares") at a share price of C$ 19.67. The interest is payable quarterly, five percent in cash and three percent in shares, at the 20-day volume weighted average price prior to the interest payment date.
The proceeds received from this investment will be allocated towards the completion of the Vizcachitas project ("Vizcachitas" or the "Vizcachitas Project") pre-feasibility study and for general corporate purposes.
Closing of the financing is subject to the satisfaction of customary closing conditions, including but not limited to TSX Venture Exchange approval and the completion of definitive documentation. Closing is expected to occur the first week of April, 2022.
R. Michael Jones, CEO of Los Andes, commented:
"We are very pleased that Queen's Road Capital is making this follow-on investment, which demonstrates its continued confidence in Los Andes Copper. The stalwart support of Queen's Road is a testament to their long-term support of their mining companies. We are at a very exciting time in the Company with significant pending drilling results and a pre-feasibility study in our milestones in the months ahead. This modest capital raise allows the company to complete the milestones we set out for 2022."
Warren Gilman, Chairman and CEO of Queen's Road Capital, commented:
"Queen's Road Capital is pleased with the progress to date to daylight the value and potential of Los Andes Copper. The further investment in Los Andes is in exact alignment with our strategy to be a financier of choice for mining companies with world class assets."
About Queen's Road Capital Investment Ltd.
Queen's Road Capital is a leading financier to the global resource sector. The Company is a resource-focused investment company, making investments in privately held and publicly traded resource companies.
It is intended that the Company will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.
Queen's Road Capital Investment Ltd. is listed on the TSX-V under the ticker: QRC.
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is a development company with a 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Vizcachitas Project, which is located along Chile's most prolific copper belt, into production.
Vizcachitas is a copper-molybdenum porphyry deposit, located 120 km north of Santiago, Chile, in an area of good infrastructure. The National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant report titled "Preliminary Economic Assessment of the Vizcachitas Project" (the "PEA"), dated June 13, 2019, prepared by Tetra Tech, highlights that the Vizcachitas Project has a post-tax NPV (8% discount rate) of approximately USD$1.8 billion and an IRR of 20.77%, based on a USD$3 per pound copper price. The Vizcachitas Project has a Measured Resource of 254.4 million tonnes at a grade of 0.439% copper and an Indicated Resource of approximately 1.03 billion tonnes at a grade of 0.385% copper. The PEA can be found on the Company's SEDAR profile at www.sedar.com.
The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
Antony Amberg CGeol FGS, the Company's President and CEO, is the qualified person under NI 43-101 who have reviewed and approved the scientific and technical information contained in this news release.
For more information please contact:
R. Michael Jones , P.Eng CEO rmj@losandescopper.com Tel: +44 203 4407982
BlytheRay, Financial PR Megan Ray Rachael Brooks Tel: +44 207 138 3203
E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com Follow us on twitter @LosAndesCopper Follow us on LinkedIn Los Andes Copper Ltd
Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, Spinnaker's ability to raise capital, target and attract institutional and retail investors and focus on developing and expanding the network of investors, analysts and financial intermediaries who are interested in Los Andes. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118622
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