LOS ANGELES, CA / ACCESSWIRE / January 22, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Mobileye Global Inc. ("Mobileye" or "the Company") (NASDAQ: MBLY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between January 26, 2023 and January 3, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before March 18, 2024.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Mobileye’s customers purchased excess inventory in fiscal year 2023 to avoid the shortages they experienced in 2021 and 2022. As a result, these customers were carrying a large inventory of the Company’s products, including 6-7 million units of EyeQ System-on-Chips ("SoCs"). Due to this excess inventory, the Company was at risk of its largest customers buying less product in fiscal year 2024. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Mobileye, investors suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
LOS ANGELES, CA / ACCESSWIRE / January 22, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Mobileye Global Inc. ("Mobileye" or "the Company") (NASDAQ: MBLY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between January 26, 2023 and January 3, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before March 18, 2024.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Mobileye’s customers purchased excess inventory in fiscal year 2023 to avoid the shortages they experienced in 2021 and 2022. As a result, these customers were carrying a large inventory of the Company’s products, including 6-7 million units of EyeQ System-on-Chips ("SoCs"). Due to this excess inventory, the Company was at risk of its largest customers buying less product in fiscal year 2024. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Mobileye, investors suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
WHITE ROCK, BC / ACCESSWIRE / January 22, 2024 / TDG Gold Corp. (TSX-V:TDG) (the "Company" or "TDG") is pleased to provide the third and final targeting from TDG’s 100% owned Mets mining lease located in the Toodoggone District of north-central B.C.
This news release describes additional targets resulting from interpretation of TDG’s high-resolution geophysical program conducted at Mets in 2023 identifying ~1,400 metres ("m") of potential additional trends1(Figure 1) comprising two new target areas1 that have never been drill tested: Mets Southwest (Figure 2) and Mets Northeast (Figure 5); and a third target with a distinct ‘ring shape’ geophysical feature (‘Ringo’) suggestive of an alteration feature rimming an intrusive or volcanic center (Figure 6).
Figure 1. 3D View of Mets Mining Lease & Potential Target Areas1 displaying (a) magnetic susceptibility voxel model (left) and (b) VLF-EM 24.8 kHz, Karous-Hjelt filtered voxel model (right).
Steven Kramar, TDG’s VP Exploration, commented: "Mets Southwest and Mets Northeast trends appear to be compelling target areas1. The Mets Southwest trend presents geophysical, geochemical, and topographical lineaments that are very similar to those hosting the A-Zone."
The high-grade gold within the Mets A-Zone, confirmed by TDG’s drilling in 2023, appears to be coincident with certain distinct geophysical characteristics. TDG has used these characteristics to define other target areas1 including potential northern and southern extensions to anomalies associated with the A-Zone (see news releases Jan 08, 2024 and Jan 15, 2024) and, in this news release, to two parallel trends.
METS SOUTHWEST TREND 1
This trend is defined by a very strong north-south conductive zone (Figure 2b) and coincident magnetic susceptibility low (Figure 2a). The target area extends over ~900 m, and the geophysical features have similar magnitudes as over the Mets A-Zone. The trend is characterized as a Very Low Frequency Electromagnetic ("VLF-EM") response (Figure 3) that appears to be developing at depth, a coincident characteristic magnetic susceptibility low (Figure 4) and a soil geochemical anomaly (news release Nov 14, 2023). This is a highly prospective trend with the same orientation and similar geophysical characteristics as the trend hosting the A-Zone, and has nearly no historical work with the closest drillhole being over 500 m away.
Figure 2. 3D View of Mets Southwest Potential Target Area1 displaying (a) magnetic susceptibility voxel model (left) and (b) VLF-EM 24.8 kHz, Karous-Hjelt filtered voxel model (right).
Figure 4. Cross Section (see Figure 2) showing magnetic susceptibility voxel model.
METS NORTHEAST TREND1
This trend is defined by approximately 500 m of anomalous geophysics that is parallel to the trend hosting the high-grade Mets A-Zone. This anomalous trend is along a larger regional silver ("Ag") in soil anomaly (identified by Manson Creek Resources2 in the 1980s) that extends beyond the Mets mining lease boundaries (news release Nov 14, 2023), and may coincide with a larger regional structure through the area that aligns with other known epithermal Au-Ag occurrences. This feature has not been drilled to date.
Figure 5. 3D View of Mets A-Zone & Potential Northeast Target Area1 displaying a) magnetic susceptibility voxel model (left) and b) VLF-EM 24.8 kHz, Karous-Hjelt filtered voxel model (right).
‘RINGO’ TARGET1
A circular magnetic anomaly (Figure 6) identified in the TDG ground magnetics surveys is located 300 m (to the centre) to the northeast of the Mets A-Zone. The feature has a distinctive ‘donut’ shape suggestive of an alteration feature rimming an intrusive or volcanic center with its northeastern ‘limb’ described as the Northeast trend1 (Figure 1). This feature occurs along a major north-northwest trending topographic, geophysical, and geochemical lineament interpreted to be a regional scale fault that is coincident with a series of historical Au-Ag prospects. Historical drillhole MT87-59 drilled into the centre of the feature but was only selectively assayed near the top of the drillhole, with only 6 % of the total metres of the drillhole assayed, and no assays past 68 m. Historical drillhole MT87-60 was redrilled into this zone and stopped abruptly at 40 m. Neither of these drillholes represent an appropriate test of this feature. This target is at an early stage and additional work is warranted to determine the source of the anomaly.
Figure 6. 3D View of the Ringo Target1 displaying magnetic susceptibility voxel model.
Qualified Person
The technical content of this news release has been reviewed and approved Steven Kramar, MSc., P.Geo., Vice President, Exploration for TDG Gold Corp., a qualified person as defined by National Instrument 43-101.
AMEBC Roundup (Core Shack) January 22-23, 2024
TDG will be at the AMEBC Roundup Conference (Core Shack booth #827) in Vancouver from January 22-23, 2024, at the Vancouver Convention Center East and will be pleased to provide further information and updates on the Company and its projects.
1Mineral Exploration/Exploration Target Area(s): TDG is a mineral exploration focused company and the Company’s Projects are in the mineral exploration stage only. The degree of risk increases substantially where an issuer’s properties are in the mineral exploration stage as opposed to the development or operational stage. Exploration targets and/or Exploration zones and/or Exploration areas are speculative and there is no certainty that any future work or evaluation will lead to the definition of a mineral resource.
2Historical Data: This news release includes historical information that has been reviewed by TDG’s qualified person (QP). TDG’s review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, TDG cannot directly verify the accuracy of the historical data, including (but not limited to) the procedures used for sample collection and analysis. Therefore, any conclusions or interpretations borne from use of this data should be considered too speculative to suggest that additional exploration will result in mineral resource delineation. TDG encourages readers to exercise appropriate caution when evaluating these data and/or results.
3Historical Drillcore Sampling & Assay Methodology: Historical drillcore was geologically logged with lithologies identified and notable geological features recorded. Historical drillcore was split in half (and in rare cases sawn in half) along sample intervals (lithology and mineralization dependant) generally less than 3 m. Chemical analysis was performed dominantly for precious metal analysis (Au and Ag), and infrequently for base metals (Pb, Zn, Cu), and rarely for major elements and trace elements. Historically, different commercial laboratories were utilized in addition to an assay lab at Baker Mine Site. These lab facilities may or may not have had accreditation and in all cases accreditation (if applicable) pre-dated current ISO standards. Over that period, a variety of digestion and assay methods were used, including atomic absorption, fire assay atomic absorption, aqua regia atomic absorption and aqua regia ICP with varying detection limits. Reference materials (if any) were inserted at the analytical level and thus were unblind to the facility processing the samples.
4Unassayed Historical Drill Core: Historical drill core intersections, lengths or intervals referenced for re-assay or geological analysis may not be available or suitable for sampling. Historical drill cores were inherited with the project and TDG provides no guarantees or warranties that these drill cores are part of the historical inventory, are available and/or have not degraded to a state that would render them wholly unusable for the purposes of scientific investigation. TDG provides no warranties/guarantees that these historical un-assayed drill cores host precious or base metal mineralization.
About TDG Gold Corp.
TDG is a major mineral tenure holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG’s flagship projects are the former producing, high-grade gold-silver Shasta and Baker mines, which produced intermittently between 1981-2012, and the historical high-grade gold Mets developed prospect, all of which are road accessible, and combined have over 65,000 m of historical drilling. The projects have been advanced through compilation of historical data, new geological mapping, geochemical and geophysical surveys and, at Shasta, 13,250 m of modern HQ drill testing of the known mineralization occurrences and their potential extensions. In May 2023, TDG published an updated Mineral Resource Estimate for Shasta (see TDG news release May 01, 2023) which remains open at depth and along strike. In January 2023, TDG defined a larger exploration target area adjacent to Shasta (Greater Shasta-Newberry; see TDG news release January 25, 2023). In late 2023, TDG published the first modern drill results from the Mets mining lease (see TDG news releases September 07, 2023, September 11, 2023, November 28, 2023 and December 04, 2023). In 2024, TDG published the first 3D geophysical images from its 2023 high resolution geophysical survey at Mets (see TDG news releases January 08, 2024 and January 15, 2024).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as "appear"," interpret", "coincident", "potential", "confirm", "suggest", "distinct", "encourage", "define", "anomaly", "similar", "prospective,", "characterize" and variations of these words as well as other similar words or statements that certain events or conditions "could", "may", "should", "would" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current and planned exploration activities including the potential for the definition of a high-grade gold or other style of mineral deposit of potential economic value within the Mets mining lease; that geophysical survey results and interpretations thereof are defining potentially mineralized corridors; results from future exploration programs including drilling; interpretation and meaning of completed and future geophysical surveys; conclusions of future economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in grades of mineralization and/or future actual recovery rates; accidents, labour disputes and other risks of the mining industry; the availability of sufficient funding on terms acceptable to the company to complete the planned work programs; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Commencement of the 2024 Winter Exploration Program consisting of diamond drilling proximal to the high-grade BMK Cu-Zn-Ag-Pb-Au VMS Deposit
The Objective of the 2024 Program is the discovery of the copper stockwork zone associated with the formation of the BMK Deposit
Priority targets for testing of copper rich zones are:
CST, a HeliSAM target, which lies 400 m along strike to the southwest of the BMK Deposit
BMK South Extension – expansion area with copper rich intercepts at the southern extent of the BMK Deposit
BMK North Extension – expansion area with copper rich intercepts at the northern extent of the BMK Deposit
The Program is anticipated to drill 3,500 m
BURLINGTON, ON / ACCESSWIRE / January 22, 2024 /Murchison Minerals Ltd. ("Murchison" or the "Company")(TSXV:MUR)(OTCQB:MURMF) is pleased to announce the commencement of the 2024 Winter Exploration Program (the "Program") at its 100%-owned Cu-Zn-Ag-Pb-Au Volcanogenic Massive Sulphide (VMS) BMK Project in Saskatchewan. The Program is comprised of diamond drilling totaling approximately 3,500 m and is expected to be completed by mid-March. Cyr Drilling of Sunnyside, Manitoba was selected as the drill contractor. The objective of the Program is the discovery of the copper-rich stockwork zone predicted – due to the high-grade nature – to be associated with the formation of the of the BMK VMS Deposit. The Program will focus on testing three target areas: CST, BMK North and BMK South Extensions.
Figure 1: Plan Map View of BMK Deposit and CST zone with drill target areas highlighted in red.
Figure 2- Long Section View of BMK Deposit and CST Geophysical Anomaly, highlighting target areas for 2024 drill program.
2024 Winter Exploration Program:
The Program will focus on diamond drill exploration, utilizing one drill. Murchison maintains a year-round core processing facility, and accommodations within the nearby – 2.5 km – community of Brabant Lake, SK. The BMK Project site is easily accessible with maintained road access within 1.8 km of the Deposit, while exploration target areas have well established drill-trails. The Company has secured all necessary permits and approvals for the Program.
The BMK Deposit has a 2018 NI 43-101 resource estimate of 2.1 Mt indicated at 0.69% Cu, 7.08% Zn, 0.49% Pb, 39.6 g/t Ag, 0.23 g/t Au and 7.6 Mt of inferred at 0.57% Cu, 4.46% Zn, 0.19% Pb, 18.42 g/t Ag, and 0.1 g/t Au (See NI 43-101 dated September 4, 2018) and remains open along strike and at depth. Recent work completed by subject matter expert Dr. Stephen J. Piercy, Professor at Memorial University NFLD, has aided in an updated geological interpretation of the BMK Deposit. The updated geological interpretation indicates that the BMK Deposit should have an associated copper stockwork zone (see release dated June 7, 2023) which is typical in most VMS deposits, and has yet to be discovered at BMK. The copper stockwork zone represents a target which could considerably add to the BMK resource, and its identification is of top priority for Murchison.
During the Program, the Company will drill test three high priority areas. i). The CST target (Figure 1 & 2), a large geophysical anomaly, reidentified in a 2017 Heli-SAM survey (hybrid ground/airborne electromagnetic survey). The target is considered prospective due to its similar conductance to that of the BMK Deposit, as well as being only 400 metres south of the BMK Deposit directly along strike. The large size and proximity of the anomaly to the BMK Deposit may indicate a copper stockwork zone or an additional lens of massive sulphide mineralization. ii). BMK South Extension target, located south of the current extents of the defined BMK Deposit. The target area is along strike from multiple high-grade copper intercepts at the southern edge of BMK. iii). BMK North Extension target, located north of the current extents of the defined BMK Deposit. The target area is along strike from multiple high-grade copper intercepts at the northern edge of BMK Deposit.
2023 Fall Exploration Program at BMK:
Murchison has recently received geophysical data from the fall 2023 ground electro-magnetic (EM) survey over the CST target (see release dated November 8, 2023). The EM survey consisted of two lines, 1 line was 2 km long and the other 1 km long with 50-metre spaced reading stations oriented perpendicular over the CST anomaly. The survey was used as confirmation of the 2017 geophysical data, and they survey successfully confirmed a strong EM response coincident with the previously modelled anomaly. This geophysical survey provided confidence in the robustness of the previous geophysical anomaly and confirmed it as high priority drill target for Murchison.
One (1) hole drilled in 2021 was also selected for a borehole EM survey. This hole detected a significant off-hole anomaly but unfortunately the hole was plugged at the 400-metre level which is approximately where the anomaly was located, and where mineralization had been encountered in the hole. The blocked hole was a hindrance to be able to provide full resolution to the borehole EM results however there is still sufficient data to highlight a significant response directly west of the hole. This off-hole anomaly is located at the far southern extent of the BMK Deposit and is planned to be drill tested during the winter program.
Murchison Minerals’ Vice-President of Exploration John Shmyr comments:
"The 2024 Exploration Program at the BMK Project is the culmination of many months of planning and preparation. The team has spent months updating our geologic interpretation of the BMK Deposit and it has reinforced our views on the high potential of the project. The work that Dr. Piercy has done gives us a tremendous amount of confidence in our thesis that a copper stockwork zone should be associated with the BMK Deposit. Additionally, the team is particularly excited about the CST target since it is only 400 meters away from the Deposit, directly on strike. The 2024 Program is the first step in unlocking the potential of the BMK Project, and we are thrilled to be back here exploring."
OTC Venture Market
The Company wishes to announce that its last day of trading on the OTC Venture Market ("OTCQB") will be on January 31, 2024. For February 2024 onwards, US investors will still be able to trade the common shares of the Company via OTC’s "Pink Sheet".
Qualifying Statement
The foregoing scientific and technical disclosures on the BMK Project have been reviewed by John Shmyr, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Shmyr is a Qualified Person as defined by National Instrument 43-101. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Mr. Shmyr consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.
Some data disclosed in this News Release relating to sampling and drilling results is historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. In some cases, the data may be unverifiable due to lack of drill core. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s properties.
About the BMK Project
The Brabant-McKenzie Project is located 175 kilometres northeast of La Ronge, Saskatchewan and approximately three kilometres from the community of Brabant Lake. The area is accessed year-round via provincial Highway 102 and is serviced by grid power. The project hosts the Brabant-McKenzie VMS Deposit, and the mineral claims total 664 square kilometres, that cover approximately 37 kilometres of strike length of the favourable BMK trend.The project contains multiple known mineralized showings such as the Main Lake and Betty Showings and with many identified geophysical conductors that have yet to be drill tested.
Figure 3: Location map of BMK Project.
Mineral Resource Summary for BMK VMS Deposit
2018 BMK Deposit Resource
Domain
Tonnes
Contained Grade
Contained Metal
Cu (%)
Zn (%)
Ag (g/t)
Pb (%)
Au (g/t)
Cu Eq. (%)
Zn Eq.
(%)
Cu
(000 lbs)
Zn
(000 lbs)
INDICATED MINERAL RESOURCE
Lower Zone
1,200,000
0.75
8.13
48.00
0.67
0.28
5.56
11.53
19,842
215,083
Upper Zone
900,000
0.60
5.70
28.52
0.24
0.17
3.82
7.93
11,905
113,097
Total Indicated
2,100,000
0.69
7.08
39.60
0.49
0.23
4.82
9.98
31,945
327,783
INFERRED MINERAL RESOURCE
Lower Zone
2,700,000
0.55
4.88
29.02
0.42
0.14
3.43
7.14
32,739
290,481
Upper Zone
4,900,000
0.57
4.22
12.46
0.06
0.08
2.79
5.81
61,575
455,871
Total Inferred
7,600,000
0.57
4.46
18.42
0.19
0.10
3.03
6.29
95,504
747,278
The above mineral resource estimate for the Brabant-McKenzie VMS Deposit was prepared by an independent qualified person ("QP") Finley Bakker, P. Geo., and has an effective date of September 4, 2018. The NI 43-101 Technical Report named Technical Report on the Resource Estimate Update for the Brabant-McKenzie Property, Brabant Lake, Saskatchewan is available on the Company’s website and on SEDAR. The Mineral Resource of the Brabant-McKenzie VMS Deposit was estimated based on metal prices of USD $1.20/lb Zn, $2.50/lb Cu, $1.00/lb Pb, $16.00/Oz. Ag, and $1,200/Oz. Au, and a USD exchange rate of $1.25. A Net Smelter Return (NSR) cut-off of $90/tonne and a 3.5% zinc equivalent based on above metal prices and an average recovery of 75% for all metals.
About Murchison Minerals Ltd. (TSXV: MUR, OTCQB: MURMF)
Murchison is a Canadian‐based exploration Company focused on nickel-copper-cobalt exploration at the 100% – owned HPM Project in Quebec and the exploration and development of the 100% – owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan. Murchison currently has 260.8 million shares issued and outstanding.
Additional information about Murchison and its exploration projects can be found on the Company’s website at www.murchisonminerals.ca. For further information, please contact:
Troy Boisjoli, President and CEO, Erik H Martin, CFO, or Justin LaFosse, Director Corporate Development Tel: (416) 350‐3776 info@murchisonminerals.com
Forward‐Looking Information
The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in any target being delineated as a mineral resource.
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is 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. FLI herein includes, but is not limited to: future drill results; stakeholder engagement and relationships; parameters and methods used with respect to the assay results; the prospects, if any, of the deposits; future prospects at the deposits; and the significance of exploration activities and results. FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained herein. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI. Assumptions upon which FLI is based, without limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the deposits; the accuracy of key assumptions, parameters or methods used to obtain the assay results; the ability of the Company to obtain required approvals; the results of exploration activities; the evolution of the global economic climate; metal prices; environmental expectations; community and nongovernmental actions; and any impacts of COVID-19 on the deposits, the Company’s financial position, the Company’s ability to secure required funding, or operations. Risks and uncertainties about the Company’s business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedar.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.
Commencement of the 2024 Winter Exploration Program consisting of diamond drilling proximal to the high-grade BMK Cu-Zn-Ag-Pb-Au VMS Deposit
The Objective of the 2024 Program is the discovery of the copper stockwork zone associated with the formation of the BMK Deposit
Priority targets for testing of copper rich zones are:
CST, a HeliSAM target, which lies 400 m along strike to the southwest of the BMK Deposit
BMK South Extension – expansion area with copper rich intercepts at the southern extent of the BMK Deposit
BMK North Extension – expansion area with copper rich intercepts at the northern extent of the BMK Deposit
The Program is anticipated to drill 3,500 m
BURLINGTON, ON / ACCESSWIRE / January 22, 2024 /Murchison Minerals Ltd. ("Murchison" or the "Company")(TSXV:MUR)(OTCQB:MURMF) is pleased to announce the commencement of the 2024 Winter Exploration Program (the "Program") at its 100%-owned Cu-Zn-Ag-Pb-Au Volcanogenic Massive Sulphide (VMS) BMK Project in Saskatchewan. The Program is comprised of diamond drilling totaling approximately 3,500 m and is expected to be completed by mid-March. Cyr Drilling of Sunnyside, Manitoba was selected as the drill contractor. The objective of the Program is the discovery of the copper-rich stockwork zone predicted – due to the high-grade nature – to be associated with the formation of the of the BMK VMS Deposit. The Program will focus on testing three target areas: CST, BMK North and BMK South Extensions.
Figure 1: Plan Map View of BMK Deposit and CST zone with drill target areas highlighted in red.
Figure 2- Long Section View of BMK Deposit and CST Geophysical Anomaly, highlighting target areas for 2024 drill program.
2024 Winter Exploration Program:
The Program will focus on diamond drill exploration, utilizing one drill. Murchison maintains a year-round core processing facility, and accommodations within the nearby – 2.5 km – community of Brabant Lake, SK. The BMK Project site is easily accessible with maintained road access within 1.8 km of the Deposit, while exploration target areas have well established drill-trails. The Company has secured all necessary permits and approvals for the Program.
The BMK Deposit has a 2018 NI 43-101 resource estimate of 2.1 Mt indicated at 0.69% Cu, 7.08% Zn, 0.49% Pb, 39.6 g/t Ag, 0.23 g/t Au and 7.6 Mt of inferred at 0.57% Cu, 4.46% Zn, 0.19% Pb, 18.42 g/t Ag, and 0.1 g/t Au (See NI 43-101 dated September 4, 2018) and remains open along strike and at depth. Recent work completed by subject matter expert Dr. Stephen J. Piercy, Professor at Memorial University NFLD, has aided in an updated geological interpretation of the BMK Deposit. The updated geological interpretation indicates that the BMK Deposit should have an associated copper stockwork zone (see release dated June 7, 2023) which is typical in most VMS deposits, and has yet to be discovered at BMK. The copper stockwork zone represents a target which could considerably add to the BMK resource, and its identification is of top priority for Murchison.
During the Program, the Company will drill test three high priority areas. i). The CST target (Figure 1 & 2), a large geophysical anomaly, reidentified in a 2017 Heli-SAM survey (hybrid ground/airborne electromagnetic survey). The target is considered prospective due to its similar conductance to that of the BMK Deposit, as well as being only 400 metres south of the BMK Deposit directly along strike. The large size and proximity of the anomaly to the BMK Deposit may indicate a copper stockwork zone or an additional lens of massive sulphide mineralization. ii). BMK South Extension target, located south of the current extents of the defined BMK Deposit. The target area is along strike from multiple high-grade copper intercepts at the southern edge of BMK. iii). BMK North Extension target, located north of the current extents of the defined BMK Deposit. The target area is along strike from multiple high-grade copper intercepts at the northern edge of BMK Deposit.
2023 Fall Exploration Program at BMK:
Murchison has recently received geophysical data from the fall 2023 ground electro-magnetic (EM) survey over the CST target (see release dated November 8, 2023). The EM survey consisted of two lines, 1 line was 2 km long and the other 1 km long with 50-metre spaced reading stations oriented perpendicular over the CST anomaly. The survey was used as confirmation of the 2017 geophysical data, and they survey successfully confirmed a strong EM response coincident with the previously modelled anomaly. This geophysical survey provided confidence in the robustness of the previous geophysical anomaly and confirmed it as high priority drill target for Murchison.
One (1) hole drilled in 2021 was also selected for a borehole EM survey. This hole detected a significant off-hole anomaly but unfortunately the hole was plugged at the 400-metre level which is approximately where the anomaly was located, and where mineralization had been encountered in the hole. The blocked hole was a hindrance to be able to provide full resolution to the borehole EM results however there is still sufficient data to highlight a significant response directly west of the hole. This off-hole anomaly is located at the far southern extent of the BMK Deposit and is planned to be drill tested during the winter program.
Murchison Minerals’ Vice-President of Exploration John Shmyr comments:
"The 2024 Exploration Program at the BMK Project is the culmination of many months of planning and preparation. The team has spent months updating our geologic interpretation of the BMK Deposit and it has reinforced our views on the high potential of the project. The work that Dr. Piercy has done gives us a tremendous amount of confidence in our thesis that a copper stockwork zone should be associated with the BMK Deposit. Additionally, the team is particularly excited about the CST target since it is only 400 meters away from the Deposit, directly on strike. The 2024 Program is the first step in unlocking the potential of the BMK Project, and we are thrilled to be back here exploring."
OTC Venture Market
The Company wishes to announce that its last day of trading on the OTC Venture Market ("OTCQB") will be on January 31, 2024. For February 2024 onwards, US investors will still be able to trade the common shares of the Company via OTC’s "Pink Sheet".
Qualifying Statement
The foregoing scientific and technical disclosures on the BMK Project have been reviewed by John Shmyr, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Shmyr is a Qualified Person as defined by National Instrument 43-101. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Mr. Shmyr consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.
Some data disclosed in this News Release relating to sampling and drilling results is historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. In some cases, the data may be unverifiable due to lack of drill core. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s properties.
About the BMK Project
The Brabant-McKenzie Project is located 175 kilometres northeast of La Ronge, Saskatchewan and approximately three kilometres from the community of Brabant Lake. The area is accessed year-round via provincial Highway 102 and is serviced by grid power. The project hosts the Brabant-McKenzie VMS Deposit, and the mineral claims total 664 square kilometres, that cover approximately 37 kilometres of strike length of the favourable BMK trend.The project contains multiple known mineralized showings such as the Main Lake and Betty Showings and with many identified geophysical conductors that have yet to be drill tested.
Figure 3: Location map of BMK Project.
Mineral Resource Summary for BMK VMS Deposit
2018 BMK Deposit Resource
Domain
Tonnes
Contained Grade
Contained Metal
Cu (%)
Zn (%)
Ag (g/t)
Pb (%)
Au (g/t)
Cu Eq. (%)
Zn Eq.
(%)
Cu
(000 lbs)
Zn
(000 lbs)
INDICATED MINERAL RESOURCE
Lower Zone
1,200,000
0.75
8.13
48.00
0.67
0.28
5.56
11.53
19,842
215,083
Upper Zone
900,000
0.60
5.70
28.52
0.24
0.17
3.82
7.93
11,905
113,097
Total Indicated
2,100,000
0.69
7.08
39.60
0.49
0.23
4.82
9.98
31,945
327,783
INFERRED MINERAL RESOURCE
Lower Zone
2,700,000
0.55
4.88
29.02
0.42
0.14
3.43
7.14
32,739
290,481
Upper Zone
4,900,000
0.57
4.22
12.46
0.06
0.08
2.79
5.81
61,575
455,871
Total Inferred
7,600,000
0.57
4.46
18.42
0.19
0.10
3.03
6.29
95,504
747,278
The above mineral resource estimate for the Brabant-McKenzie VMS Deposit was prepared by an independent qualified person ("QP") Finley Bakker, P. Geo., and has an effective date of September 4, 2018. The NI 43-101 Technical Report named Technical Report on the Resource Estimate Update for the Brabant-McKenzie Property, Brabant Lake, Saskatchewan is available on the Company’s website and on SEDAR. The Mineral Resource of the Brabant-McKenzie VMS Deposit was estimated based on metal prices of USD $1.20/lb Zn, $2.50/lb Cu, $1.00/lb Pb, $16.00/Oz. Ag, and $1,200/Oz. Au, and a USD exchange rate of $1.25. A Net Smelter Return (NSR) cut-off of $90/tonne and a 3.5% zinc equivalent based on above metal prices and an average recovery of 75% for all metals.
About Murchison Minerals Ltd. (TSXV: MUR, OTCQB: MURMF)
Murchison is a Canadian‐based exploration Company focused on nickel-copper-cobalt exploration at the 100% – owned HPM Project in Quebec and the exploration and development of the 100% – owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan. Murchison currently has 260.8 million shares issued and outstanding.
Additional information about Murchison and its exploration projects can be found on the Company’s website at www.murchisonminerals.ca. For further information, please contact:
Troy Boisjoli, President and CEO, Erik H Martin, CFO, or Justin LaFosse, Director Corporate Development Tel: (416) 350‐3776 info@murchisonminerals.com
Forward‐Looking Information
The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in any target being delineated as a mineral resource.
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is 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. FLI herein includes, but is not limited to: future drill results; stakeholder engagement and relationships; parameters and methods used with respect to the assay results; the prospects, if any, of the deposits; future prospects at the deposits; and the significance of exploration activities and results. FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained herein. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI. Assumptions upon which FLI is based, without limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the deposits; the accuracy of key assumptions, parameters or methods used to obtain the assay results; the ability of the Company to obtain required approvals; the results of exploration activities; the evolution of the global economic climate; metal prices; environmental expectations; community and nongovernmental actions; and any impacts of COVID-19 on the deposits, the Company’s financial position, the Company’s ability to secure required funding, or operations. Risks and uncertainties about the Company’s business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedar.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.
VANCOUVER, BC / ACCESSWIRE / January 22, 2024 / Storm Exploration Inc. (TSX-V:STRM) ("Storm" or the "Company") today announced that it has terminated the Toogood Option Agreement with Prospector Metals Corp. announced on September 25, 2023 due to regulatory and market conditions. Instead, the Company will focus on advancing the Copper-Zinc VMS target identified on its road accessible Gold Standard Project located approximately 60 km north of the community of Fort Frances in northwestern Ontario.
Gold Standard Project
The road-accessible Gold Standard Project comprises 284 mineral claims covering 6,016 ha and is located 65 km north of the community of Fort Frances (see Figure 2). The project lies withing the traditional territory of the Naicatchewenin and Nigigoonsiminikaaning First Nations and Storm now has agreements in place with both groups.
The Gold Standard property is located within the Manitou-Stormy Lake greenstone belt and is prospective for gold and base metals. The property hosts three historical small-scale gold mining operations that date from 1901 to 1903. These gold showings have seen little modern exploration and have never been tested with drilling. In 2022, Storm confirmed the high-grade nature of the old workings with grab samples that returned grades up to 166 g/t Au (see Storm news release dated 27-Sep-2022).
A property-wide airborne electromagnetic survey conducted by Storm in October of 2022 identified a large conductivity anomaly with a strike length of more than five kilometres (see Figure 1) that occurs in host rocks that are often associated with Volcanogenic Massive Sulphide ("VMS") mineralization. This is supported by copper and zinc mineralization noted in shallow historical drill holes completed between 1969 and 1971 (see Storm news release dated 8-Feb-2023).
Figure 2: Gold Standard Project Location Map
Next Steps at Gold Standard
Planning for a scout drill program to test the large VMS target has commenced. The Cu-Zn target can be accessed by an existing network of forestry roads, and it is expected that drilling will commence in Q2/2024. In addition, exploration work aimed at extending the high-grade gold mineralization in the southern part of the property is planned for Q3/2024.
Financing
Storm has elected to cancel the non-brokered private placement financing that was announced on November 30, 2023 to support the acquisition and advancement of the Toogood Gold Property. Terms for a private placement to fund work on the Gold Standard Project will be announced in the coming weeks.
Qualified Person
The technical contents of this news release have been reviewed and approved by Bruce Counts, P. Geo., President and CEO of Storm Exploration Inc. and Qualified Person under National Instrument 43-101.
About Storm Exploration Inc.
Storm Exploration Inc. is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on four district-scale projects in Canada: Miminiska, Keezhik, Attwood and Gold Standard.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
VANCOUVER, BC / ACCESSWIRE / January 22, 2024 / Storm Exploration Inc. (TSX-V:STRM) ("Storm" or the "Company") today announced that it has terminated the Toogood Option Agreement with Prospector Metals Corp. announced on September 25, 2023 due to regulatory and market conditions. Instead, the Company will focus on advancing the Copper-Zinc VMS target identified on its road accessible Gold Standard Project located approximately 60 km north of the community of Fort Frances in northwestern Ontario.
Gold Standard Project
The road-accessible Gold Standard Project comprises 284 mineral claims covering 6,016 ha and is located 65 km north of the community of Fort Frances (see Figure 2). The project lies withing the traditional territory of the Naicatchewenin and Nigigoonsiminikaaning First Nations and Storm now has agreements in place with both groups.
The Gold Standard property is located within the Manitou-Stormy Lake greenstone belt and is prospective for gold and base metals. The property hosts three historical small-scale gold mining operations that date from 1901 to 1903. These gold showings have seen little modern exploration and have never been tested with drilling. In 2022, Storm confirmed the high-grade nature of the old workings with grab samples that returned grades up to 166 g/t Au (see Storm news release dated 27-Sep-2022).
A property-wide airborne electromagnetic survey conducted by Storm in October of 2022 identified a large conductivity anomaly with a strike length of more than five kilometres (see Figure 1) that occurs in host rocks that are often associated with Volcanogenic Massive Sulphide ("VMS") mineralization. This is supported by copper and zinc mineralization noted in shallow historical drill holes completed between 1969 and 1971 (see Storm news release dated 8-Feb-2023).
Figure 2: Gold Standard Project Location Map
Next Steps at Gold Standard
Planning for a scout drill program to test the large VMS target has commenced. The Cu-Zn target can be accessed by an existing network of forestry roads, and it is expected that drilling will commence in Q2/2024. In addition, exploration work aimed at extending the high-grade gold mineralization in the southern part of the property is planned for Q3/2024.
Financing
Storm has elected to cancel the non-brokered private placement financing that was announced on November 30, 2023 to support the acquisition and advancement of the Toogood Gold Property. Terms for a private placement to fund work on the Gold Standard Project will be announced in the coming weeks.
Qualified Person
The technical contents of this news release have been reviewed and approved by Bruce Counts, P. Geo., President and CEO of Storm Exploration Inc. and Qualified Person under National Instrument 43-101.
About Storm Exploration Inc.
Storm Exploration Inc. is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on four district-scale projects in Canada: Miminiska, Keezhik, Attwood and Gold Standard.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
TORONTO, ON / ACCESSWIRE / January 22, 2024 / Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan"), is pleased to announce the results of a review of metallurgical data for its 26.4 km2 flagship Santa Fe Mine project. The data review was completed by Kappes, Cassiday and Associates ("KCA") of Reno, Nevada, a global leader in metallurgical and process consulting. KCA reviewed metallurgical test work on oxide gold and silver mineralization completed by previous operators of the Santa Fe Mine as well as production data. Gold and silver recovery estimates were primarily based upon prior metallurgical test work for the Santa Fe Mine as described below. When recovery estimates of the individual deposits are applied to the Mineral Resource Estimate ("MRE") shown in the Santa Fe Mine Technical Report*, it results in weighted project-wide gold recoveries of 74.4% for gold and 29.0% for silver at a ½-inch crush size from oxide mineralization.
Recovery estimates were primarily based upon prior metallurgical test work from the Project. This review included considerations from the following quantity of bottle roll and column leach tests:
Bottle Roll Tests
Column Tests
Santa Fe
32
25
Slab
30
5
Calvada East
45
8
York
15
3
It is typical to apply lab-to-field recovery discounts as a scale up factor when projecting commercial heap leach performance. This is generally a 2% to 5% deduction on the recovery, depending on the amount of available information. For the estimate, a 3% gold recovery deduction was applied to Santa Fe and 5% gold recovery deductions were applied to the other deposits. Five percent silver recovery deductions were applied to all the deposits.
Based on the review and applied discounts, the recovery estimates for oxide mineralization are as follows:
Au
Ag
Santa Fe
79%
30%
Slab
50%
20%
Calvada East
71%
13%
York
60%
0%
When recovery estimates of the individual deposits are applied to the Mineral Resource Estimate ("MRE") shown in the Santa Fe Project Technical Report*, it results in weighted project-wide gold recoveries from oxide mineralization of 74.4% for gold and 29.0% for silver at a ½-inch crush size. Preliminary review of the data indicates little benefit to recovery from crushing finer than this.
The data reviewed included the results of a 1,860-ton crushed and agglomerated test heap of Santa Fe pit oxide mineralization. The heap was agglomerated with 5.5 kg/t cement addition yielding a 73.8% overall gold recovery, and 80.3% gold recovery on the flat surfaces for the ¾" crushed test heap.
Operational data review indicates a total crushed oxide mineralization recovery of 65.5% over the life of the mine from 1988 to 1995. However, crush size seemed to vary throughout the life of the operation, ranging from 1-1/2 inches down to 5/8 inches towards the later stages of the mining operation. Consistent crushing at ½-inch should improve precious metal recoveries.
Reagent consumption estimates were primarily based upon bottle roll information and are as follows:
Cyanide
Lime
kg/t
kg/t
Santa Fe
0.37
2.9
Slab
0.13
1.5
Calvada East
0.33
5.5
York
0.48
6.7
KCA believes that there is sufficient data available to establish recovery ranges of oxide gold and silver mineralization for inclusion in a Preliminary Economic Assessment ("PEA"). This is a result of previous operational data, and the amount of column leach testing available on the component that makes up the bulk of the resource (the Santa Fe pit resource).
In order to reduce risk for the Project, KCA recommends that two more agglomerated column tests on each of Slab and Calvada East oxide mineralization at ½" crush size be performed to confirm gold and silver recoveries for these areas where recovery data is sparse. KCA also recommends development of preg-robbing indices for the various types of mineralization in order to better understand metallurgical risks of the Project.
Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: "Lahontan truly appreciates the data review completed by KCA for the Santa Fe Mine Project. The conclusion by KCA that the existing Santa Fe metallurgical data is sufficient in quantity and detail to use for our planned PEA this year greatly benefits the Company and will help streamline the PEA process. The high heap leach oxide gold and silver recoveries estimated by KCA project-wide underscore the economic potential of restarting mining operations at Santa Fe".
About Lahontan Gold Corp.
Lahontan Gold Corp. is a fully financed Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’s flagship property, the 26.4 km2 Santa Fe Mine, had past production of 345,000 ounces of gold and 711,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Bureau of Mines and Geology, 1995). The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,112,000 oz Au Eq(grading 1.14 g/t Au Eq) and an Inferred Mineral Resource of 544,000 oz Au Eq (grading 1.00 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company will continue to aggressively explore Santa Fe during 2024 and begin the process of evaluating development scenarios to bring the Santa Fe Mine back into production. Anthony Gesualdo, CPG, Consulting Geologist to Lahontan Gold Corp., is the Qualified Person for the Company and approved the technical content of this news release. For more information, please visit our website: www.lahontangoldcorp.com
* Please see the Santa Fe Project Technical Report, Authors: Trevor Rabb and Darcy Baker, P. Geos. Effective Date: December 7, 2022, Report Date: March 2, 2023. The Technical Report is available on the Company’s website and SEDAR.
On behalf of the Board of Directors
Kimberly Ann Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp. Kimberly Ann Founder, Chief Executive Officer, President, Director
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. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a varietyof risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com
TORONTO, ON / ACCESSWIRE / January 22, 2024 / Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan"), is pleased to announce the results of a review of metallurgical data for its 26.4 km2 flagship Santa Fe Mine project. The data review was completed by Kappes, Cassiday and Associates ("KCA") of Reno, Nevada, a global leader in metallurgical and process consulting. KCA reviewed metallurgical test work on oxide gold and silver mineralization completed by previous operators of the Santa Fe Mine as well as production data. Gold and silver recovery estimates were primarily based upon prior metallurgical test work for the Santa Fe Mine as described below. When recovery estimates of the individual deposits are applied to the Mineral Resource Estimate ("MRE") shown in the Santa Fe Mine Technical Report*, it results in weighted project-wide gold recoveries of 74.4% for gold and 29.0% for silver at a ½-inch crush size from oxide mineralization.
Recovery estimates were primarily based upon prior metallurgical test work from the Project. This review included considerations from the following quantity of bottle roll and column leach tests:
Bottle Roll Tests
Column Tests
Santa Fe
32
25
Slab
30
5
Calvada East
45
8
York
15
3
It is typical to apply lab-to-field recovery discounts as a scale up factor when projecting commercial heap leach performance. This is generally a 2% to 5% deduction on the recovery, depending on the amount of available information. For the estimate, a 3% gold recovery deduction was applied to Santa Fe and 5% gold recovery deductions were applied to the other deposits. Five percent silver recovery deductions were applied to all the deposits.
Based on the review and applied discounts, the recovery estimates for oxide mineralization are as follows:
Au
Ag
Santa Fe
79%
30%
Slab
50%
20%
Calvada East
71%
13%
York
60%
0%
When recovery estimates of the individual deposits are applied to the Mineral Resource Estimate ("MRE") shown in the Santa Fe Project Technical Report*, it results in weighted project-wide gold recoveries from oxide mineralization of 74.4% for gold and 29.0% for silver at a ½-inch crush size. Preliminary review of the data indicates little benefit to recovery from crushing finer than this.
The data reviewed included the results of a 1,860-ton crushed and agglomerated test heap of Santa Fe pit oxide mineralization. The heap was agglomerated with 5.5 kg/t cement addition yielding a 73.8% overall gold recovery, and 80.3% gold recovery on the flat surfaces for the ¾" crushed test heap.
Operational data review indicates a total crushed oxide mineralization recovery of 65.5% over the life of the mine from 1988 to 1995. However, crush size seemed to vary throughout the life of the operation, ranging from 1-1/2 inches down to 5/8 inches towards the later stages of the mining operation. Consistent crushing at ½-inch should improve precious metal recoveries.
Reagent consumption estimates were primarily based upon bottle roll information and are as follows:
Cyanide
Lime
kg/t
kg/t
Santa Fe
0.37
2.9
Slab
0.13
1.5
Calvada East
0.33
5.5
York
0.48
6.7
KCA believes that there is sufficient data available to establish recovery ranges of oxide gold and silver mineralization for inclusion in a Preliminary Economic Assessment ("PEA"). This is a result of previous operational data, and the amount of column leach testing available on the component that makes up the bulk of the resource (the Santa Fe pit resource).
In order to reduce risk for the Project, KCA recommends that two more agglomerated column tests on each of Slab and Calvada East oxide mineralization at ½" crush size be performed to confirm gold and silver recoveries for these areas where recovery data is sparse. KCA also recommends development of preg-robbing indices for the various types of mineralization in order to better understand metallurgical risks of the Project.
Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: "Lahontan truly appreciates the data review completed by KCA for the Santa Fe Mine Project. The conclusion by KCA that the existing Santa Fe metallurgical data is sufficient in quantity and detail to use for our planned PEA this year greatly benefits the Company and will help streamline the PEA process. The high heap leach oxide gold and silver recoveries estimated by KCA project-wide underscore the economic potential of restarting mining operations at Santa Fe".
About Lahontan Gold Corp.
Lahontan Gold Corp. is a fully financed Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’s flagship property, the 26.4 km2 Santa Fe Mine, had past production of 345,000 ounces of gold and 711,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Bureau of Mines and Geology, 1995). The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,112,000 oz Au Eq(grading 1.14 g/t Au Eq) and an Inferred Mineral Resource of 544,000 oz Au Eq (grading 1.00 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company will continue to aggressively explore Santa Fe during 2024 and begin the process of evaluating development scenarios to bring the Santa Fe Mine back into production. Anthony Gesualdo, CPG, Consulting Geologist to Lahontan Gold Corp., is the Qualified Person for the Company and approved the technical content of this news release. For more information, please visit our website: www.lahontangoldcorp.com
* Please see the Santa Fe Project Technical Report, Authors: Trevor Rabb and Darcy Baker, P. Geos. Effective Date: December 7, 2022, Report Date: March 2, 2023. The Technical Report is available on the Company’s website and SEDAR.
On behalf of the Board of Directors
Kimberly Ann Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp. Kimberly Ann Founder, Chief Executive Officer, President, Director
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. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a varietyof risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com
CHARLOTTE, NC / ACCESSWIRE / January 22, 2024 / Flores & Associates LLC (Flores), a premier provider of employer-sponsored reimbursement plans and compliance services, is pleased to announce it has acquired Rhode Island-based London Health Administrators, Ltd. (London Health), a highly regarded third-party administrator of employee benefit programs such as HRAs, HSAs, FSAs, and COBRA.
London Health team members will become a part of the Flores team and continue to operate from the London Health headquarters located in East Providence, Rhode Island. President of London Health, Chris Cote, says, "London Health is very excited for our future with Flores and our ability to better service our clients and partners. They have a very strong company culture with the same dedicated consumer-focused service delivery model as London. Our local team will continue to be the local service provider; however, we are now supported by a national industry leader. Flores solidifies the foundation of London by providing more financial and technological resources to allow us to best meet client needs in the short and long term."
Flores CEO, Jody Oliver, says, "We are very excited to have London Health Administrators join Flores. London is an absolute top-quality organization focused on high-touch customer service and is always focused on doing the right thing for their customers, which aligns perfectly with Flores’ core values and culture. This strategic acquisition further solidifies our presence in the Northeast region and brings with it some very important new broker and carrier relationships for Flores. The team of tremendously talented professionals will help make Flores a stronger company. We look forward to expanding the broker and client relationships that London has established over the past few decades, by making additional solutions available to them."
ABOUT LONDON HEALTH ADMINISTRATORS
London Health Administrators was founded in 1964 and is based in East Providence, RI. London is a customer-friendly third-party administrator specializing in administrating employee benefit programs such as HRAs, HSAs, FSAs, and COBRA. London Health Administrators is dedicated to delivering personal service, seamless administration, and cost-focused consumer-driven solutions that allow employees and employers to maximize their benefit dollars and experiences. Today, London services over 125,000 members and over 1,300 employer groups throughout the United States.
ABOUT FLORES
Flores & Associates LLC is a premier third-party administrator of employer-sponsored reimbursement plans, COBRA, leave administration, and compliance services. Based in Charlotte, NC, Flores has emerged as a leader in the CDHP market through a service model founded upon innovative technology, dedicated professionals, and an uncompromising commitment to remarkable service experiences. For more information, visit the Flores website and follow them on LinkedIn.
