Multiple High-Grade Veins Encountered in Corridor Bridging the Southern Portion of a 1-kilometre Gap Between the DPB and the NW Step Out Area with Additional Resource Expansion Program Drilling Planned
RESOURCE EXPANSION PROGRAM HIGHLIGHTS:
TXC25-123 returned assays up to 23.47 g/t Au and 2,223 g/t Ag for 4,335 g/t AgEq over 0.31 metres within a 3.05 metre zone grading 225 g/t Ag and 2.41 g/t Au for 442 g/t AgEq;
TXC24-113 yielded 7.14 g/t Au and 614 g/t Ag for 1,257 g/t AgEq over 0.31 metres, and 1.68 metres of 364 g/t Ag and 0.03 g/t Au for 367 g/t AgEq;
TXC25-124 returned 8.06 metres grading 1.23 g/t Au and 122 g/t Ag for 233 g/t AgEq, including 0.76 metres of 779 g/t Ag and 7.85 g/t Au for 1,486 g/t AgEq;
Multiple high-grade vein intercepts in drillholes TXC24-113, TXC25-123 and TXC25-124 returning multi-kilogram AgEq assays;
The NW Step Out target shows potential to add an additional 30 to 50% of new resource to Tonopah West, allowing for the capture and inclusion of the NW resource (1.0M tonnes containing an inferred 6.4M ozs Ag and 63k ozs Au or 12.1M ozs AgEq)1 into a future updated preliminary economic assessment on Tonopah West; and
Seven additional core holes are planned to reduce the spacing to 50-metre drill centres along a 450 metre portion of the trend
Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) (“Blackrock” or the “Company“) announces the first set of results from its exploration drill program (the “Resource Expansion Program“) that is targeting expansion potential across a one kilometre trend of vein corridor linking the Denver-Paymaster (“DP“) and Bermuda -Merten (“Bermuda) vein groups (collectively “DPB“) and the Northwest (“NW“) Step Out resource areas on its 100% owned Tonopah West project (“Tonopah West“) located in Nye and Esmeralda Counties, Nevada, United States.
The first assays from the Resource Expansion Program targeting the extension of the Tonopah West vein system returned results that confirm the Company’s geologic model and will be followed up on over the coming months in an expanded program. The initial Resource Expansion Program consisted of nine core holes with reverse circulation (RC) pre-collars and two core holes drilled from the surface. A total of 6,548 metres (21,484 feet) of drilling was completed.
The assay results show the extension of the silver and gold system continues to the northwest from the DPB resource area across the 1-kilometre vein corridor with each drillhole intersecting multiple mineralized quartz veins. A follow-up drill program is being planned that will reduce the drill spacing for over 450-metres of strike to 50 to 75-metre centers along the silver-gold trend that will be included in a future updated resource estimate. The NW Step Out zone is also open to the northwest and down dip, and connection with the DPB resource looks promising.
The mineralized quartz veins returned significant gold and silver values with gold (Au) up to 23.467 grams per tonne (g/t) Au and silver (Ag) values at 2,223 g/t Ag. In addition, drill thickness shows significant potential with vein intercepts exceeding 8 metres in TXC25-124. The NW Step Out target shows potential to add an additional 30 to 50% of new resource Tonopah West, connecting the zone to DPB, allowing for the capture and inclusion of the existing NW resource (1.0 million (M) tonnes containing an inferred 6.4 M ounces (ozs) Ag and 63k ozs Au or 12.1M ozs silver equivalent (AgEq))1 into a future updated preliminary economic assessment on Tonopah West.
Andrew Pollard, the Company’s President and Chief Executive Officer stated: “Initial assay results from our Resource Expansion Program have validated our geologic model, confirming multiple +1k g/t AgEq intercepts on the extension of the system across a host of veins over a 500-metre span of our one-kilometre gap. These results strengthen our confidence in adding both significant ounces and mine life at Tonopah West. Drilling has successfully connected high-grade mineralization within the southern portion of a one-kilometer gap within the vein corridor, linking the DPB resource area and mine plan to the 12-million-ounce AgEq NW Step Out deposit-excluded from our 2024 preliminary economic assessment. Initial results have successfully traced mineralized structures along a 500-metre extension of this zone, suggesting the potential to increase our existing mineral inventory by 30% to 50% and integrate the orphaned NW Step Out deposit. With our model becoming more robust, we are increasing expansion drilling with the goal of fully integrating the one-kilometre trend into our next preliminary economic assessment on Tonopah West, with an updated mineral resource estimate on Tonopah West planned in both Q3, 2025, in addition to a further updated mineral resource estimate and preliminary economic assessment on Tonopah West scheduled for completion in Q2 2026.”
Table 1: Tonopah West Assay Intercepts using 150 g/t AgEq cut off
Drillhole ID
Program
From (m)
To (m)
Drillhole Interval (m)
Ag g/t
Au g/t
AgEq g/t
TXC24-113
Expansion
478.08
478.39
0.31
614.0
7.140
1,256.7
TXC24-113
Expansion
503.13
504.66
1.52
116.8
0.904
198.2
TXC24-113
Expansion
538.43
540.11
1.68
364.0
0.033
367.0
TXC24-114
Expansion
394.08
395.63
1.55
93.9
1.553
233.7
Including
394.08
394.41
0.34
288.0
5.270
762.4
TXC25-123
Expansion
436.87
437.54
0.67
182.0
1.690
334.1
TXC25-123
Expansion
471.83
474.88
3.05
225.4
2.412
442.5
Including
471.83
472.14
0.31
2,223.0
23.467
4,335.3
TXC25-124
Expansion
370.03
378.62
8.60
121.6
1.233
232.6
Including
371.55
372.31
0.76
778.6
7.854
1,485.6
TXC25-124
Expansion
407.40
410.26
2.87
176.8
1.785
337.5
Including
407.40
407.76
0.37
1,344.0
13.500
2,559.2
AgEq gpt=(Au gpt*90)+Ag gpt; True thickness unknown at this time; NSV=No values above cut off; Cut-off grade is 150 gpt AgEq; RC/Core = RC pre-collar with core tail; Core is core from the surface.
Drillholes TXC24-106, -109, -110, and -111, drilled on the northern portion of the trend were too far east to reach the mineralized structures. Drillhole TXC24-108 cut multiple veins, but returned values below the cut-off grade (0.31 metres grading 117 g/t Ag, 0.165 g/t Au for 132 g/t AgEq; 0.67 metres grading 73 g/t Ag, 0.263 g/t Au for 96 g/t AgEq; and 0.64 metres yielding 50 g/t Ag, 0.24 g/t Au for 72 g/t AgEq starting at 578m, 590m and 631m respectively). TXC24-112 was drilled in a northwesterly direction and deviated to the northwest thereby paralleling the main structural grain. One drillhole, TXC24-107, which was cored from surface was lost before reaching the target depth.
With drillholes TXC24-113, -114 and TXC25-123 and -124 cutting multiple high-grade veins, the exploration group has a better understanding of the geometry of the NW Step Out structures that will be used for refined targeting of our expanded Resource Expansion Program.
Table 2: Tonopah West Drillhole Location Coordinates (based on GPS readings in the field, Datum UTM, NAD 1927, Zone 11)
Drillhole ID
Area
Type
UTM_NAD27 E
UTM_NAD27 N
Elevation (m)
Depth (m)
Azimuth
Incline
TXC24-106
NW Step Out
RC/Core
476887.1
4214846.1
1746.6
770.5
270
-80
TXC24-107
NW Step Out
Lost
476889.2
4214843.0
1746.9
118.0
230
-65
TXC24-108
NW Step Out
Core
476891.5
4214844.8
1747.3
713.4
230
-65
TXC24-109
NW Step Out
RC/Core
476911.1
4214747.8
1748.0
657.5
270
-80
TXC24-110
NW Step Out
RC/Core
476925.9
4214639.9
1744.1
657.5
270
-80
TXC24-111
NW Step Out
RC/Core
477058.8
4214642.7
1747.6
708.7
230
-65
TXC24-112
NW Step Out
RC/Core
477316.7
4214181.8
1751.9
737.0
290
-65
TXC24-113
NW Step Out
RC/Core
477311.2
4214181.0
1751.7
540.1
220
-75
TXC24-114
NW Step Out
RC/Core
477403.8
4214041.9
1757.9
618.1
220
-75
TXC25-123
NW Step Out
RC/Core
477508.7
4214018.0
1767.1
502.3
180
-65
TXC25-124
NW Step Out
RC/Core
477647.0
4213941.2
1763.5
525.5
180
-60
Figure 1 is a plan map showing the location of all the drillholes in the Resource Expansion Program and highlighting those mentioned in this news release.
Figure 1: Drillhole location map of the Resource Expansion Program showing drillholes mentioned in this news release.
All sampling is conducted under the supervision of the Company’s project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The RC and core samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory’s (AAL) flat-bed truck and delivered to AAL’s facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company’s instructions.
The RC samples are lined out at the lab and logged in to AAL’s system. The core samples are cut using core saws and personnel at AAL’s facility in Sparks, Nevada according to the Company’s instructions delivered with each core hole.
All samples are dried, crushed to 85% passing 10 mesh (2mm) and a 250-gram sub-sample split is collected and pulverized to 200 mesh (74 micron) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified reference material approximately every 15th to 20th sample.
Qualified Persons
Blackrock’s exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under NI 43-101. He has reviewed and approved the contents of this news release.
About Blackrock Silver Corp.
Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.
Cautionary Note Regarding Forward-Looking Statements and Information
This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements“) within the meaning of 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, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company’s strategic plans; the intention to expand the Resource Expansion Program; the timing of completion of the Company’s drill program at Tonopah West and the anticipated objectives and results therefrom; the interpretation of the assay results from the Resource Expansion Program; the potential to add an additional 30 to 50% of new resource Tonopah West, connecting the zone to DPB, allowing for the capture and inclusion of the existing NW resource; the timing of completion of updated mineral resource estimates and updated preliminary economic assessments on Tonopah West; the Company’s de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.
These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption “Risks Factors” in the Company’s most recent Annual Information Form.
Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
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.
1 Technical information relating to Tonopah West is based on and derived from the National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) technical report prepared for Blackrock entitled “Preliminary Economic Assessment of Mineral Resources, Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA” with an effective date of September 4, 2024 and dated October 11, 2024, available under the Company’s SEDAR+ profile at www.sedarplus.ca.
Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or theCompany) is pleased to provide an update on its ongoing and expanded exploration programs at the Nyngan project, located in the interpreted undercover extension of the Macquarie Arc in NSW, Australia, conducted under an earn-in and joint venture agreement with, and funded by, AngloGold Ashanti.
John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, commented:
“Initial drilling has provided encouraging results supporting our belief that the Nyngan project is a new porphyry district scale opportunity and, as agreed with our partner AngloGold Ashanti, this warrants an expansion to our first phase of exploration activities with renewed drilling and geophysics mobilised.
Scout drilling to date has provided very wide spatial coverage across separate potential intrusive complexes, with all holes interpreted to have intersected Macquarie Arc rocks 1, and, encouraging chalcopyrite and anomalous copper in multiple holes.
In particular, the last hole of 2024, hole NYDD007 encountered porphyry style quartz veins, multiple intrusives, a locally developed exoskarn and significant sulphides strongly warranting step out drilling to either discover or provide a vectoring pattern to a possible deposit.
Further separate potential complexes within the South-West and Ace of Spades targets have been chosen for the continuation of the scout drilling. A detailed ground gravity survey covering ~400km2 is in progress to help define more drilling targets including possible silicified basement hills under the cover rocks which may be due to high sulphidation gold mineralisation related to porphyry deposits.
The expanded scout drilling and ground gravity survey will assist with specific vectoring and a budgeted second phase follow-up and step out drilling program.
Preparations are also taking place for the first Kincora-AngloGold Ashanti drilling at the Nevertire project.”
Background
The interpreted undercover extensions of the renowned Macquarie Arc porphyry copper-gold geology are a globally significant exploration opportunity offering new district(s) scale discovery potential. The relatively mature and well-explored sections of the Macquarie Arc host:
a mineral endowment of over 160 million gold equivalent ounces 2,
multiple world-class mines, some of which have recently attracted over $16 billion of corporate activity 3, and,
two projects with resource growth of over 10 million gold equivalent ounces (Boda-Kaiser and Cowal) 4.
The less explored extensions of the Arc have attracted five recent earn-in and joint venture agreements supporting potentially over $300 million in exploration and development expenditures 3.
Kincora was an early entrant into the geophysically interpreted undercover Northern Junee-Narromine Belt (NJNB) of the Macquarie Arc. The Company now holds a >100km north-south strike of contiguous licenses across a number of interpreted underexplored, some never drilled, probable intrusive complexes and volcanic edifice sections of the undercover extensions of this belt.
The Company’s Nyngan and Nevertire projects are two of a total of five Kincora projects in the NJNB, and are being advanced via an up to A$50 million earn-in and joint venture agreement with AngloGold Ashanti (the other three projects are held 100% and Kincora is proactively seeking asset level partners).
Initial drilling results at the Nyngan project have provided strong encouragement and support the view that the Nyngan project is highly prospective for large scale porphyry related copper-gold deposits and offers new district scale potential.
The exploration program by Kincora with AngloGold Ashanti has been expanded, including both a continuation of a scout drilling program and an expansion of ground gravity geophysical surveying.
During 4Q’2024, six holes for 2707m were completed utilising cost-effective mud-rotary drilling through the relatively soft post mineral cover sequence followed by diamond core drilling (NQ3) of porphyry-prospective basement. The holes have provided samples of basement geology across separate magnetic complexes and key lithological domains.
The first phase scout program has sought to gain wide spatial coverage across in two very broad areas, the South-West target and the Ace of Spades target, both defined by coincident aeromagnetic and gravity features with only one previous hole to basement at the South-West target and no prior basement intersections at the Ace of Spades (see Figure 2).
The holes (NYDD002 to NYDD007) encountered a variety of basement lithologies including andesite, volcaniclastic breccia, diorite, gabbro, dolerite, and granodiorite, sandstone and siltstone, which based on extensive geological experience in the district, are all interpreted to be Macquarie Arc basement rocks, but noting age dating and lithogeochemistry analysis are pending. Hole NYDD007 within the south-western stem of the Ace of Spades has identified a high priority follow-up target warranting step out drilling to either discover or create a vectoring pattern to a possible deposit. See Figure 3 for select photos of NYDD007 drill core.
Intervals hosting native copper, chalcopyrite, bornite, pyrite and molybdenite were noted in holes NYDD002, 003, 004, 006 and 007 (see Tables 1 and 2). The sulphides occur as disseminations, fracture-fill and within quartz±carbonate veins, and also in mineralized skarn in NYDD007. Long intervals of anomalous copper were returned in the assays for NYDD003, 004 and 007 (see Table 2). The volcanic, sedimentary and/or intrusive rocks had been overprinted by moderate to strong, patchy to pervasive magnetite+chlorite-, epidote+carbonate±albite-, sericite and garnet+epidote+chlorite+calcite bearing hydrothermal alteration assemblages in NYDD003, 004, 006 and 007.
Drilling paused for the summer holiday period with the scout drilling program recommenced to provide further wide spatial coverage of basement lithologies across separate potential intrusive complexes at both the South-West and Ace of Spades targets. Further drill hole permits have been submitted for up to a total of twenty holes (see Figure 2).
A ground gravity survey is progressing well, covering a total of ~400km2 across the extensions of the South-West and Ace of Spade targets (see Figure 2), and expanding and providing infill coverage from the ground gravity survey completed in 2024. The infill program is expected to refine an existing interpreted high sulphidation gold target associated with a basement high, whilst the regional survey is expected to define additional targets.
Completion of the initial scout drilling program and the ground gravity survey are expected to refine areas of interest for a proposed and budgeted second phase follow-up drilling.
Figure 1: A new district-scale series of major and untested magmatic complex targets are situated with in the Nyngan project that potentially represent the largest volcano-intrusive complex of the Macquarie Arc
Kincora is managing the exploration program, currently receives a 10% management fee of expenditures with expanded initial scout drilling and ground gravity survey ongoing
Figure 2: 6 wide spaced scout holes have been completed with drilling expanded with further approvals submitted for up to a total of 20-holes. A ground gravity survey has commenced across ~40km N-E strike covering the wider South-West and Ace of Spades targets.
Table 2: Nyngan project: Selected maximum assay values
Hole
Copper (ppm)
Gold (ppm)
As (ppm)
Mo (ppm)
S (%)
Ag (ppm)
NYDD002 1
424
0.011
6.0
1.56
0.03
0.29
NYDD003 2
378
0.016
29.4
1.23
0.19
0.24
NYDD004 3
680
0.038
15.8
1.60
0.85
0.28
NYDD005 4
159
0.014
16.8
1.48
1.08
0.66
NYDD006 5
245
0.016
27.1
1.27
0.02
0.32
NYDD007 6
472
0.215
11.1
211
3.49
0.59
1 – A 12.8m interval of interpreted Ordovician age gabbro was returned in diamond core sampling of basement for NYDD002. The reported maximum assay values is over a 1.3m sample of the gabbro unit below a contact with an overlying conglomerate (from 440.7m), The intersected basement had a weak to moderate pervasive propylitic alteration assemblage comprising chlorite, magnetite and epidote, overprinted by weak patchy albite with hematite dusting. The last four metres of the hole had rare very fine grained bornite and chalcopyrite occurring together with chlorite and magnetite.
2 – NYDD003 returned broad intervals of anomalous copper (up to 378ppm copper over 2m from 396m). The best intercepts were 6m @ 214ppm copper from 309m (within a fine to medium grained basaltic andesite with moderate pervasive chlorite, patchy epidote with 1-5% wispy calcite±epidote±quartz veins, rarely with fine grained pyrite and chalcopyrite) and 64m @ 264ppm copper from 362.4m (within very coarse grained plagioclase phyric diorite with weak to moderate pervasive chlorite+calcite+magnetite with patchy epidote and non-stratified pebbly-granular volcaniclastic sandstone or matrix-supported breccia with moderately shearing and foliation, moderate pervasive chlorite+calcite and very weak to weak patchy zones of very fine grained quartz, magnetite and pyrite) (calculated using 200ppm copper minimum and 4m internal dilution cutoffs).
3 – volcaniclastic rocks returned anomalous copper (up to 680ppm copper over 2m from 381m within a andesite brecca clast) over broad intervals in NYDD004. The best intercepts were from upper parts of the hole, where native copper occurred as fracture-fill and disseminations: 14m @ 427ppm copper from 339m and 8m @ 523ppm copper from 375m. Broad intervals of disseminated and vein-hosted chalcopyrite occurred in lower parts of the hole: 28m @ 255 ppm copper from 393m and 65m @ 249ppm copper from 428.5m (calculated using 200ppm copper minimum and 4m internal dilution cutoffs).
4 – Minor mineralization was noted in NYDD005 and related to disseminated very fine-grained magnetite and rare euhedral pyrite crystals with calcite strain fringes with only up to 159ppm copper over 2m from 341m.
5 – Trace chalcopyrite was rarely observed in hole NYDD006 in calcite+quartz±epidote veins with up to 245ppm copper over 2m from 316m.
6 – NYDD007 encountered a volcanic package of plagioclase phyric andesite, microdiorite, fine-grained volcaniclastic sandstone and minor andesite-clast breccia, intruded by an equigranular granodiorite and associated aplite, pegmatite and quartz-feldspar porphyry. The intrusions occurred as multi-metre bodies, smaller dykes, veins and stringers. Pyrite (locally up to 5%) and trace amounts of chalcopyrite, molybdenite and native copper (locally up to 0.3%) occurred in hole NYDD007. Quartz+pyrite±carbonate±epidote veins up to 5cm width occurred throughout the hole, within the granodiorite and volcanic-sedimentary host rocks, some containing chalcopyrite or molybdenite, many with bleached, sericite-rich selvedges. There were also pyrite±chalcopyrite veins and pyrite stringers. Late carbonate veins and breccia veins tended to be associated with fracture zones and were surrounded by broad sericite+carbonate±pyrite-altered zones. There were multiple hydrothermal and contact-metamorphic alteration assemblages observed throughout NYDD007. The maximum grade of 0.215 g/t gold is over 1m from 418m with a geological description provided in Figure 3 with an accompanying photo and description of that lithological unit..
Table 3: Nyngan project: Summary of mud rotary-diamond drill
Holes completed 4Q’2024
Target
Hole
End of Hole (m)
Dip (°)
Azimuth (true)
Easting (MGA)
Northing (MGA)
Elevation (m)
Diamond Core recovery (%)
South-West
NYDD002
453.6
-90
0
517309
6532972
149
99.9%
Ace of Spades
NYDD003
426.4
-90
0
533326
6554167
149
99.7%
Ace of Spades
NYDD004
500.9
-90
0
533918
6547408
149
97.5%
Ace of Spades
NYDD005
371.2
-75
247
529381
6557836
149
98.0%
Ace of Spades
NYDD006
438.2
-90
0
525242
6554783
149
99.7%
Ace of Spades
NYDD007
516.3
-90
0
525542
6545010
149
99.6%
About the Nyngan Project
The Nyngan license (Exploration Licence 8929) was the first ground Kincora secured in NSW. It is a large 762km2 direct application tenement granted by the NSW State Government covering a significant portion of the interpreted under cover section of the northern Junee-Narromine Belt 7. The Junee-Narromine Belt is one of the two largest belts of the Macquarie Arc, Australia’s foremost porphyry belt, which hosts a mineral endowment of over 160 million gold equivalent ounces 2.
The license hosts almost no prior explorer drilling even though regional geophysics strongly indicates a new potential district-scale setting for a significant number of interpreted, large-scale, porphyry copper-gold intrusive complex targets.
In May 2024, Kincora signed a definitive multiple-phase Earn-in and Joint Venture Agreement (Agreement) over the Nyngan and Nevertire licences with AngloGold Ashanti Australia Limited, a wholly owned subsidiary of AngloGold Ashanti plc (NYSE: AU; JSE: ANG), the world’s fourth largest gold miner by production which has a successful track record for greenfields discovery success.
AngloGold Ashanti has the right to spend up to A$50 million to earn an 80% interest through:
A$25 million of exploration expenditure to earn a 70% joint venture interest (Phase I) including a minimum A$2 million expenditure obligation, with Kincora the initial operator for a 10% management fee.
Completion of a Pre-Feasibility Study (PFS) or funding of a further $25 million of expenditure to earn a 80% joint venture interest (Phase II).
In July 2024, separate to the Agreement with AngloGold Ashanti, Kincora formed a partnership with Fleet Space Technologies Pty Ltd (Fleet Space) to undertake Ambient Noise Tomography (ANT) and gravity geophysical surveys under a research and development grant at the Nyngan project.
The Fleet Space surveys were completed in 2024 and focused on a small portion of the Ace of Spades target. The ongoing ground gravity survey covering ~400km2 provides further coverage across the extensions of the South-West and Ace of Spade targets and infill spacing over areas of the 2024 ground gravity survey.
About Kincora
Kincora Copper Limited is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries.
The Company has recently shifted to an asset level funding strategy for its wholly owned porphyry projects, partnering to date for five of twelve projects, and retaining its Cobar superbasin project (Condobolin) as a 100% owned project.
Recent deals have unlock up to A$60 million in multiple year partner funding and supported countercyclical growth increasing the number of NSW based projects by a third.
Field activities resumed in 4Q’2024 and have began to ramp up with over 7000 metres of drilling and over A$3.5m of partner funded exploration.
Kincora is now focused on further and larger asset level deals for its more advanced and/or proximal to mine porphyry projects, and, advancing the next stage of exploration for already partnered projects.
1 The interpretation of Macquarie Arc age basement rocks is based on extensive geological experience in the district with age dating, lithogeochemistry and other analytical analysis are pending seeking to confirm 2 Sourced from MinEx Consulting for Kincora 3 Sourced Ocean Blue Equities Oct 8, 2024 initiation research report on Waratah Minerals 4 These include: (i) Cowal epithermal gold project by Evolution Mining: Current endowment of 13.7Mtoz gold, including historic production of 4.7Moz gold and current resource of 9Moz gold, relative to the resource of 3.4Moz gold at the time of the project acquisition in May 2015. Significant resource growth has come from the Dalwhinnie/ GRE46 underground discovery with production from the underground now ramping up with resource gold grades almost 3x higher than open pit (@ 2.45g/t Au) (refer to www.evolutionmining.com.au for further details, including the annual resource / reserve statements with technical disclaimers, the Mar 25, 2015 release “Transformative Acquisition of Cowal Gold mine” and the Ocean Blue Equities Oct 8, 2024 initiation research report on Waratah Minerals); and, (ii) (ii) the Boda-Kaiser porphyry project is owned Alkane Resources (refer to www.alkane.com.au for further details, including the annual resource / reserve statements with technical disclaimers).
This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)
Executive office 400 – 837 West Hastings Street Vancouver, BC V6C 3N6, Canada Tel: 1.604.283.1722 Fax: 1.888.241.5996
Subsidiary office Australia Vista Australia Level 4, 100 Albert Road South Melbourne, Victoria 3205
Qualified Person The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101
JORC Competent Person Statement Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement), in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Persons under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Nyngan Projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.
Forward-Looking Statements Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
JORC TABLE 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections).
Criteria
JORC Code explanation
Commentary
Sampling techniques
Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information
Kincora Copper Limited (Kincora) is the operator of the Nyngan Project (EL8929) undertaking exploration in partnership with AngloGold Ashanti under an earn-in and joint venture agreement.Drill hole planning, targeting, sampling and budgeting is discussed and agreed at quarterly technical committee workshops between Kincora and AngloGold Ashanti.Drilling ulitises mud-rotary to refusal followed by diamond coring methods by Ophir Drilling Pty Ltd from which sub-samples of core are taken over 2 m intervals and pulverised to produce suitable aliquots for fire assay and ICP-MS.Diamond drilling was used to obtain core samples from the ground, which was then structurally, geotechnically and geologically logged.Some sample intervals spanning lithological contacts or changes in alteration and mineralization were less than 2 m.Sampling was completed to industry standards with 1⁄4 core for PQ and HQ diameter diamond core and 1⁄2 core for NQ3 diameter diamond core sent to the lab for each sample interval.Samples were assayed via the following methods: – Gold: Au-Tl43 (Fire assay) -Multiple elements: ME-MS61 (4 acid digestion with ICP-MS analysis of 48 elements) – Assay results >10g/t gold and/or 1% copper are re-assayed – Hyperspectral: analysis of alteration minerals using Terraspec instrument and HYP-PKGAll of the diamond core from the 2024 drilling of six holes has been cut and submitted to Australian Laboratory Services Pty Ltd (ALS) in Orange, with assays returned for all holes.An initial batch of nine core samples for petrological descriptions and confirmation of the lithologies, alteration assemblages, textures and paragenesis has been submitted, with results pending at the time of writing.Four quarter core samples have been submitted for U-Pb age dating of the zircon, titanite or apatite grains, with results pending at the time of writing.A suite of coherent (volcanic and intrusive) rocks have been chosen for lithogeochemistry, with results pending at the time of writing.Select existing pulps will be re-run as Li borate fusion discs to obtain more accurate trace element concentrations.Historic sampling on other projects included soils, rock chips and drilling (aircore, reserve circulation and diamond core).
Drilling techniques
Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).
Drilling by Kincora at Nyngan has used cost effective mud-rotary in the cover sequence rocks and diamond core drilling in the basement rocks with NQ triple tube diameter diamond core tail.Historic drilling on other Kincora projects have used a variety of methods including aircore, reverse circulation and diamond core.
Drill sample recovery
Method of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Drill core recovery was logged.Diamond drill core recoveries are contained in the body of the announcement – see Table 3.Core recoveries were recorded by measuring the total length of recovered core expressed as a proportion of the drilled run length.There is no relationship between core recoveries and grades.
Logging
Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.The total length and percentage of the relevant intersections logged.
All holes are geologically logged for their entire length including lithology, alteration, mineralization (sulphides and oxides), veining and structure.Logging is mostly qualitative in nature, with some visual estimation of mineral proportions that is semi-quantitative. Measurements are taken on structures where core is orientated.All core is photographed wet and dryHistoric drilling was logged with logging mostly recorded on paper in reports lodged with the NSW State.
Sub-sampling techniques and sample preparation
If core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.
Once all geological information was extracted from the drill core, the sample intervals were cut with an automatic core saw, bagged and delivered to the laboratory.This is an appropriate sampling technique for this style of mineralization and is the industry standard for sampling of diamond drill core.PQ and HQ sub-samples are quarter cored and NQ half cored.Sample sizes are considered appropriate the nature of lithology and mineralization being sampled.No duplicate samples were taken.
Quality of assay data and laboratory tests
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.
Gold was determined by fire assay and a suite of other elements including Cu and Mo by 4-acid digest with ICP-MS finish at ALS laboratories in Orange.For all holes, every 20th sample was either a commercially supplied pulp standard or pulp blank Certified Reference Material. Results of the Certified Reference Materials provide confidence in the accuracy of the analyses returned from ALS.ALS provides its own quality controls including laboratory duplicates and blanks as part of its routine procedures and provides these results to Kincora.Historic assays on other projects were mostly gold by fire assay and other elements by ICP.
Verification of sampling and assaying
The verification of significant intersections by either independent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.Discuss any adjustment to assay data.
Significant intercepts were calculated by Kincora’s geological staff.No twinned holes have been completed.The intercepts have not been verified by independent personnel.Logging data is captured digitally on electronic logging tablets and sampling data is captured on paper logs and transcribed to an electronic format into a relational master online database maintained by Kincora. Transcribed data is verified by the logging geologist.Assay data is received from the laboratory in electronic format and uploaded to the master database. Digital copies of Certificates of Analysis are stored in the master online database.No adjustments to assay data have been made.Outstanding assays are outlined in the body of the announcement.
Location of data points
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.Specification of the grid system used.Quality and adequacy of topographic control.
Collar positions are set up using a hand-held GPS to less than 5 m horizontal and vertical accuracy.Drillholes are surveyed downhole every 30 m using an electronic gyro instrument and when drillholes terminated a single shot is taken.For NYDD002 and NYDD003, a single shot gyro survey was taken every 12m while pulling out of the hole.Grid system used is the Map Grid of Australia Zone 55, GDA 94 datum.Topography in the area of Nyngan is near-flat and drill collar elevations provide adequate control
Data spacing and distribution
Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.Whether sample compositing has been applied.
Kincora drilling at Nyngan is at an early stage, undertaking a wide spaced initial scout drilling programme seeking to determine depth to basement and provide maiden samples of basement geology across separate magnetic complexes and key lithological domains to provide wide spatial coverage within the South West and Ace of Spades targets.Data spacing at this stage is insufficient to establish the continuity required for a Mineral Resource estimate.No sample compositing was applied to Kincora drilling.Historic drilling on Nyngan and other projects was completed at various drill hole spacings and no other projects have spacing sufficient to establish a mineral resource.
Orientation of data in relation to geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
The drill holes are either vertical for depth penetration or steeply angled toward geophysical targets.At this stage of drilling the orientation the orientation of any mineralized structures or mineralized intercepts has not yet been determined.
Sample security
The measures taken to ensure sample security.
Kincora staff or their contractors oversaw all stages of drill core sampling. Bagged samples were placed inside polyweave sacks that were zip-tied, stored in a locked container and then transported to the laboratory by Kincora field personnel.
Audits or reviews
The results of any audits or reviews of sampling techniques and data.
Mining Associates has completed an review of sampling techniques and procedures undertaken by Kincora at the Trundle Project dated January 31st, 2021, as outlined in the Independent Technical Report included in the ASX listing prospectus, which is available at: https://www.kincoracopper.com/investors/asx-prospectus Kincora has continued to follow similar sampling techniques, systems and controls.Regular site visits are undertaken by Kincora’s asset level partner, AngloGold Ashanti, with quarterly technical committee workshops reviewing all aspects of the programme.
Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)
Criteria
JORC Code explanation
Commentary
Mineral tenement and land tenure status
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
On May 28, 2024, Kincora announced a multi-phase Earn-In and Joint Venture Arrangement with a wholly owned subsidiary of AngloGold Ashanti Plc for the Northern Junee-Narromine Belt (NJNB) Project, including EL8929.EL8929 (the Nyngan Project) is wholly owned by Kincora.On March 18, 2024, a three-year extension was granted to Kincora for EL8929 until January 2027.The licence is in good standing and there are no known impediments to obtaining a licence to operate.16 Assessable Prospecting Operation (APO) approvals for drilling are in place, enabling 16 drill holes with 6 holes having already been completed. Currently two amendments to APO’s and four new APOs pending.Land access agreements are in place to execute the proposed ongoing scout drilling programme and expanded ground gravity survey.
Exploration done by other parties
Acknowledgment and appraisal of exploration by other parties.
All Kincora projects have had previous exploration work undertaken, albeit relatively limited prior drilling at the Nyngan Project. The review and verification process for the information disclosed herein and of other parties for the Nyngan Project has included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures. Further details of exploration efforts and data of other parties are providing in the March 1st, 2021, Independent Technical Report included in the ASX listing prospectus, which is available at:https://www.kincoracopper.com/investors/asx-prospectus
Geology
Deposit type, geological setting and style of mineralisation.
The Nyngan Project is interpreted to be located in the undercover northern extension of the Junee-Narromine Belt of the Macquarie Arc, part of the Lachlan Orogen.Targeted rocks comprise successions of volcano-sedimentary rocks of Ordovician age intruded by suites of subduction arc-related intermediate to felsic intrusions of late Ordovician to early Silurian age.Kincora is exploring for porphyry-style copper and gold mineralization, copper-gold skarn plus related high sulphidation and epithermal gold systems.
Drill hole Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:easting and northing of the drill hole collarelevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length.If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Detailed information on Kincora’s drilling at Nyngan is given in the body of the report.
Data aggregation methods
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.The assumptions used for any reporting of metal equivalent values should be clearly stated.
Kincora drilling at Nyngan the following methods were used:Porphyry gold-copper intercepts were aggregated using a cut-off grade of 200ppm copper.Internal dilution below cut off included was generally less than 25% of the total reported intersection length.Core loss was included as dilution at zero values.Average gold and copper grades calculated as averages weighted to sample lengths.Historic drilling results in other project areas are reported at different cut-off grades depending on the nature of mineralisation.
Relationship between mineralisation widths and intercept lengths
These relationships are particularly important in the reporting of Exploration Results.If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).
Due to the uncertainty of mineralization orientation, the true width of mineralization is not known at Nyngan.Intercepts from historic drilling reported at other projects are also of unknown true width.
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
Relevant diagrams and tables are included in the body of the report.
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
Intercepts reported for Kincora’s drilling at Nyngan are zones of higher grade within unmineralized or weakly anomalous material.
Other substantive exploration data
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
No other exploration data is considered material to the reporting of results at Nyngan. Other data of interest to further exploration targeting is included in the body of the report.Historic exploration data coverage and results are included in the body of the report for Kincora’s other projects.
Further work
The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
Areas within the South-West and Ace of Spades targets at the Nyngan Project have been chosen for a continuation of the scout drilling during 2025, seeking to provide further wide special coverage of interpreted intrusive complexes. New APOs and amendments to existing approvals are pending – see Figures 2 & 3.An expanded ground gravity survey across both targets is proposed with land access agreements in place – see Figures 2 & 3.Coupled with more detailed geoscientific studies, including petrology, lithogeochemistry and geochronology, the continuation of the scout drilling programme and expanded ground gravity survey will assist with specific vectoring and a proposed second phase follow-up diamond drilling programmes during 2025.
Test work completed at SGS Canada (Lakefield) indicates that spodumene is the primary lithium-bearing mineral within in all pegmatite samples.
No petalite, lepidolite, amblygonite or lithium-phosphate minerals were present within a detection threshold above 1% in any samples tested.
Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company) is pleased to announce the results of initial metallurgical testing on drill core samples collected from the 2024 drill program on the Cisco Lithium Project (the Project or the Cisco Project) located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay, Quebec, Canada.
Initial mineralogical work was completed by SGS Canada on 16 drill core analytical pulp samples of pegmatite collected across seven (7) drill holes at the Cisco Project (specifically from drill holes CS23-010, 017, 018, 019, 021, 022, 023, see Figure 1). The purpose of the mineralogy work was to provide a preliminary characterization of the lithium pegmatite at Cisco and to orient the direction of subsequent mineral processing test work.
All samples were analyzed by X-ray diffraction (“XRD”) for quantitative modal mineralogy. The samples that were submitted had representatively low, mid and high grades, with individual samples containing lithium between 0.53% and 3.8% Li 2 O (see Figure 2).
The results of the XRD analysis indicated average spodumene content of 17% within sample results, ranging between 6% and 39%. The remaining minerals in the samples include quartz, albite, microcline, muscovite and occasionally biotite and/or beryl. All minerals are present in common rations compared to other pegmatites in the James Bay Lithium District.
“Having spodumene as the only primary lithium-bearing mineral verified with a high-precision method like XRD is an important milestone for the Cisco Project, verifying our core observations of coarse-grained spodumene,” stated Neil McCallum, VP Exploration of Q2. “We will be conducting further metallurgical testing of the mineralized zone at the Project to understand its amenability to HLS and DMS flowsheet work.”
To follow-up the initial XRD analysis, samples are currently being prepared for additional metallurgical test work, including heavy liquid separation (HLS), dense media separation (DMS), magnetic separation, and flotation. The primary objective of the follow up preliminary metallurgical program is to evaluate the beneficiation of the currently defined mineralized zone at the Cisco Project with a traditional lithium pegmatite flowsheet. The goal of the proposed work is to produce a spodumene concentrate of greater than 6% Li 2 O with low iron content, at a maximum lithium recovery.
Figure 1. Location of mineralogical samples at the Cisco Property
Figure 2. Sample from Drill hole CS24-019
Corporate Update:
Q2 Metals announces the addition of Simon Gaivin and Chris Ackerman to its team:
Simon Gaivin – Community Relations: Mr. Gaivin is a committed professional in regional development and stakeholder engagement, with over 20 years of experience in community relations, partnership management and institutional representation. He has engaged with numerous noteworthy organizations over his career, including serving as a Director of the Université du Québec en Abitibi-Témiscaminque (UQAT) Foundation & Alumni Association, a professional at the Regional Conference of Elected Officials of Abitibi-Témiscaminque, and a lecturer at UQAT in regional development and marketing. Mr. Gaivin holds a graduate degree in Project Management from UQAT.
Chris Ackerman – Corporate Communications: Mr. Ackerman is a graduate of the UBC Faculty of Law and has extensive experience in both government and private industry, including fifteen years in mineral exploration. Prior to joining Q2 Metals, Mr. Ackerman was a founding member and spent over eight years as Vice President, Corporate Development at the Metallic Group of Companies which includes Metallic Minerals, Stillwater Critical Minerals and Granite Creek Copper. In 2016, he took the role of Sr. Business Development Advisor with the Yukon Ministry of Economic Development; a position primarily focused on promoting investment in the mining industry and previously spent 5 years heading up the Communications & IR department at Yukon-focused exploration companies.
“I’m pleased to welcome both Simon and Chris to Q2 as we continue to add and build upon the strength of our team. With Simon being from Rouyn-Noranda, Quebec, his understanding of local perspectives will contribute to the growth of our community initiatives,” stated Alicia Milne, President & CEO of Q2. “Additionally, Chris comes to us with a strong and active background in corporate strategy, capital markets, communications and investor relations. I’m looking forward to working with them as we continue to move forward with the Project.”
Upcoming Events: OTC Metals and Mining Virtual Investor Conference: Alicia Milne, Q2 Metals President & CEO and Neil McCallum, Q2 Metals VP of Exploration will present live at the Metals and Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on February 12, 2025 at 8:30am PT | 11:30 am ET. DATE: Wednesday, February 12, 2025 TIME: 8:30am PT | 11:30 am ET LINK: Click here to register
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
PDAC Booth and Core Shack The Company will be attending and exhibiting on site at the 2025 Prospectors & Developers Association of Canada event (“PDAC 2025”) in Toronto, ON.
Q2 is exhibiting in the Investors Exchange from March 2 – 5, 2025 at booth number 2726 and will also be exhibiting core from the Cisco Lithium Project at the PDAC 2025 Core Shack on March 4 – 5, 2025.
For more information on PDAC 2025, please click here.
PDAC Quebec Day: Critical & Strategic: Mining in Québec Q2 Metals is honoured to have been selected to provide a corporate spotlight presentation during Quebec Day at PDAC. Alicia Milne will present at 10:25am on March 4 th in Room 206D.
About Q2 Metals Corp Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project located within the greater Nemaska traditional territory of the Eeyou Istchee Territory, James Bay, Quebec, where drilling is currently underway.
The Cisco Project is comprised of 767 claims, totaling 39,389 hectares. The main mineralized zone is just 6.5 kilometres (“km”) away from the Billy Diamond Highway and transects the Project. The town of Matagami, which features direct rail link to much of James Bay, is approximately 150 km to the south.
The Cisco Project is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium District, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.
The Cisco Project has district-scale potential with an already identified mineralized zone and discovery drill results that include:
120.3 metres at 1.72% Li 2 O (hole CS-24-010);
215.6 metres at 1.69% Li 2 O (hole CS-24-018);
347.1 metres at 1.35% Li 2 O (hole CS-24-021); and
188.6 metres at 1.56% Li 2 O (hole CS-24-023)
Since May 2024, the Company has drilled a total of 6,359.7 m over 17 holes. All drill holes intercepted pegmatite with visual indications of spodumene mineralization identified.
Qualified Person Neil McCallum, B.Sc., P.Geol, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by NI 43-101 (“QP”), has reviewed and approved the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.
Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regarding the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, proposed metallurgical test work to be conducted, , the possibility of future development and mining infrastructure scenarios, the potential for development, the potential scale of the Cisco Project, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company’s expectations in connection with the projects and exploration programs being met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the “Company” or “Military”) is pleased to announce that it has appointed DGWA GmbH as its European financial market advisor to support its 100% owned flagship Trojárová antimony-gold property (“Trojárová” or the “Property”), located in western Slovakia.
DGWA’s CEO, Stefan Müller, comments: “The European Union has allocated billions of Euros towards the development of domestic critical minerals projects in the form of equity, grants, offtake financing and project finance loans. Additionally, Germany and greater Europe now have a significant number of commodity funds focused on domestic projects. Antinomy is a key mineral listed in Europe’s Critical Raw Materials Act, which has also adopted a fast-track permitting process unseen in other parts of the world. We look forward to supporting the advancement of the Trojarova asset. We are aware that European defense sector companies are actively seeking to secure offtake of key minerals such as antimony.”
Military Metals CEO, Scott Eldridge, comments: “Antimony prices continue to achieve new all-time highs due to supply constraints combined with surging demand, some analysts are predicting prices reaching US $100,000 per ton, representing a double of the current price.1 As we advance our European asset, we look forward to working with Mr. Müller and his highly experienced team. Governments around the world continue to prioritize military readiness, as recently seen with Germany’s €2.5 billion weapons order.2 DGWA has helped mineral projects access a substantial number of funds from various European sources. We are in the process of converting the robust high-grade Soviet era resource into a NI 43-101 compliant resource with a top global resource firm, SLR.”
DGWA will provide the following services:
Arrange site visits to the Project with key investors,
Organize European roadshows with retail, HNI, brokers, Family Offices and institutional investors,
Assist with grant funding applications to access non-dilutive financing,
Introduce the Company to European newsletter writers,
Introduce the Company to key German and European defense sector companies,
Arrange participation and representation in European Union raw materials conferences,
Translation of important presentation materials for European investors into the German language, to manage social media accounts,
Manage the translation and distribution of press releases on behalf of the Company,
Post on its website and newsletters, to position the Company in the German speaking media environment and to assist the Company to present to German speaking retail and institutional investors, potential offtake partners and government.
About DGWA GmbH
DGWA, the German Institute for Asset and Equity Allocation and Valuation (“Deutsche Gesellschaft für Wertpapieranalyse GmbH”), is a European Investment Banking Boutique based in Frankfurt, Germany. The management team has a 30-year track record in trading, investing, and analysing SMEs around the world. DGWA has been involved in over 250 IPOs, financings, bond issues, dual listings, and corporate finance transactions as well as corresponding road shows and awareness campaigns.
About Military Metals Corp.
The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development of mineral properties with a focus on antimony.
This news release contains “forward-looking information”. 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”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-Looking information in this news release includes statements related to the future plans for exploration activities. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include the results of any future exploration activities, which cannot be guaranteed, and such other factors as may impact both the Acquisition and any future activities in respect of the properties held by the Target. Additional risk factors can also be found in the Company’s public filings under the Company’s SEDAR+ profile at www.sedarplus.ca. Forward-Looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management’s estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the “Company” or “Doubleview”) is pleased to announce further drill hole results from the 2024 drill campaign at its 100% owned Polymetallic Hat Porphyry Project, located in northwestern British Columbia. Long copper-gold-silver-cobalt intercepts in Drill holes H075, H076 and H077 expand the mineralization and potentially will increase the Hat Project’s resource in size and grade.
2024 Exploration:
The 2024 drilling program was designed to confirm the integrity of the resource estimate categories, particularly the indicated resource figures and potentially to allow elevating part or all to a measured resource. Holes were directed to intersect shallow mineralization and to further explore high grade zones. Drilling has confirmed the continuity of mineralization indicating that the deposit exhibits greater consistency than typically expected of a porphyry-style deposit.
Important Drill hole Intercepts:
DDH
From (m)
To (m)
Length (m)
CuEq3 (%) excluding Sc2O3
Au (g/t)
Cu (%)
Ag (g/t)
Co (g/t)
Sc (g/t)
H075
90.0
525.0
435.0
0.35
0.15
0.21
0.40
64.8
27.2
Including
90.0
406.7
316.7
0.42
0.17
0.25
0.48
74.2
26.7
Including
148.0
389.0
241.0
0.50
0.21
0.30
0.54
74.4
26.0
Including
196.7
253.3
56.6
1.00
0.44
0.62
1.18
95.7
23.8
Including
218.5
240.0
21.5
2.06
0.79
1.41
2.62
110.2
23.5
H076
12.0
84.0
72.0
0.44
0.49
0.05
0.57
47.6
29.7
Including
21.0
63.0
42.0
0.70
0.82
0.07
0.86
47.0
31.0
Including
28.8
57.0
28.2
1.01
1.20
0.09
1.17
45.6
28.4
And
247.8
367.0
119.2
0.40
0.20
0.22
0.17
64.2
29.1
H077
89.0
497.0
408.0
0.32
0.13
0.16
0.36
103.4
28.0
Including
116.0
148.0
32.0
0.49
0.17
0.24
0.72
225.7
23.5
Including
249.0
369.0
120.0
0.40
0.20
0.20
0.18
98.1
28.6
Including
352.0
356.0
4.0
0.87
0.21
0.25
0.33
904
27.2
Detailed High-Grade Results:
a)DDH H075:
The high-grade intercepts are tabulated below:
DDH
From (m)
To (m)
Length (m)
CuEq3 (%) excluding Sc2O3
Au (g/t)
Cu (%)
Ag (g/t)
Co (g/t)
Sc (g/t)
H075
196.7
253.3
56.6
1.00
0.44
0.62
1.18
95.7
23.8
Including
206.0
240.0
34.0
1.53
0.67
0.97
1.80
101.0
23.7
Including
218.5
240.0
21.5
2.06
0.79
1.41
2.62
110.2
23.5
Including
227.0
236.0
9.0
4.55
1.73
3.18
5.76
129.4
25.6
H075
And
329.0
351.0
22.0
0.99
0.39
0.67
0.94
68.4
19.5
Additionally, drill hole H075 has significant mineralization from 45 metres depth to 341 metres, with 0.40% CuEq. (including 0.23% Cu and 0.16 g/t Au).
b)DDH H076:
Drill hole H076 was mineralized from near surface with stronger gold and silver values. As illustrated in the following table, gold values over long intervals are among the highest recorded on the property.
DDH
From (m)
To (m)
Length (m)
CuEq3 (%) excluding Sc2O3
Au (g/t)
Cu (%)
Ag (g/t)
Co (g/t)
Sc (g/t)
H076
12.0
84.0
72.0
0.44
0.49
0.05
0.57
47.6
29.7
Including
21.0
63.0
42.0
0.70
0.82
0.07
0.86
47.0
31.0
Including
28.8
57.0
28.2
1.01
1.20
0.09
1.17
45.6
28.4
Including
36.0
46.0
10.0
2.71
3.35
0.20
2.75
71.7
29.8
c)DDH H077:
Drill hole H077 intercepted strong copper-silver-cobalt mineralization over more than 408 metres length. The 904 g/t cobalt over 4 meters from 352 meters depth demonstrates the wide array of elements which make the Hat Polymetallic Deposit unique.
DDH
From (m)
To (m)
Length (m)
CuEq3 (%) excluding Sc2O3
Au (g/t)
Cu (%)
Ag (g/t)
Co (g/t)
Sc (g/t)
H077
89.0
497.0
408.0
0.32
0.13
0.16
0.36
103.4
28.0
H077
Including
352.0
356.0
4.0
0.87
0.21
0.25
0.33
904
27.2
Notes:
Copper Equivalent (CuEq) currently does not include the Scandium
Metal equivalents should not be relied upon for future evaluations. – Drill hole intercepts included in this news release are core lengths that may or may not be true widths of mineralization. It is not possible to determine true widths. –
Parameters used to calculate Copper Equivalent: Au price (US$/oz): 1900; Ag price (US$/oz): 24; Cu price (US$/lb): 4; Co price (US$/lb): 22. Au recovery: 89.0%; Ag recovery: 68.0%; Cu recovery: 84.0%; Co recovery: 78.0%. * Copper Equivalent Calculation CuEq in % = ([Ag grade in ppm] *24*0.68/31.1035 + [Au grade in ppm] *1900*.89/31.1035 + 0.0001* [Co grade in ppm] *22*0.78*22.0462 + 0.0001* [Cu grade in ppm] *4*0.84*22.0462)/(4*22.0462*0.84).
Mr. Farshad Shirvani, president & CEO of Doubleview, states: “The 2024 drill campaign was successful in testing, confirming and improving our resource model. We are encouraged to see the occurrence of mineralization closer to the surface as well as strong mineralization drill holes which proves continuity and allows for more detailed structural interpretations. This will strongly reflect in the upcoming MRE.V 2.0 that will be part of Preliminary Economic Assessment (PEA) and add value to the Polymetallic Hat Deposit by increasing the metal content. We are continuously working on our exploration model as data becomes available to recognize details of the deposit and its critical and precious metals.”
The following section illustrates drill holes H075 to H077 intersecting the Hat polymetallic deposit along the strike of major high-grade mineralization. (Section looking North East)
Location and direction of reported drill hole table:
DDH ID
UTM-East (m)
UTM-North (m)
Elevation (m)
Max-Depth (m)
Azimuth (°)
Dip (°)
H075
347,865
6,453,951
956.5
537
0
89
H076
347,865
6,453,951
956.5
660
262
70
H077
347,865
6,453,951
956.5
531
300
75
Quality Assurance and Quality Control:
Hat Project drill cores are processed at Doubleview’s camp where they are photographed, measured and logged by our technical staff and then divided using a diamond bladed saw. One half is placed in a stout bag to form the assay sample that is forwarded securely to the independent analytical lab. The remaining half core is stored on site where it is available for further examination and sampling. The assay cores are subject to a Chain of Custody routine as they are shipped from camp to a bonded carrier for delivery to the lab.
Core samples are analysed at the North Vancouver facility of ALS Canada Ltd. using their PREP-31, PGM-ICP24, ME-MS61, and ME-ICP06 packages. Each core sample is dried, then crushed to 70% passing a 2mm screen. All material is processed in an automatic Riffle splitter to yield a 250g homogenized, representative sample. This sub-sample is then pulverized to 85% passing a 75-micron screen. All samples are analyzed for Au, Pt, Pd by 50g fire-assay fusion/ICP-ES finish, using PGM-ICP24 package. A separate 0.25g pulp split is analyzed by Four Acid digestion/ICP-MS finish, reporting 48 elements. Over limit elements are analyzed by Ore Grade Four Acid digestion/ICP-ES finish using ME-OG62 assay package. All of Doubleview’s core samples are analyzed or assayed at independent ISO 17025 and ISO 9001- certified laboratories.
When initial assays are received and accepted by our staff, a certain fraction of the samples will be sent to a second ISO-certified lab for check assay and verification purposes. Assays will be reported in News Releases.
Erik Ostensoe, P. Geo., a consulting geologist, and Doubleview’s Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, and approved the technical contents of this news release. He is not independent of Doubleview as he is a shareholder in the company.
About Doubleview Gold Corp
A mineral resource exploration and development company is headquartered in Vancouver, British Columbia, Canada. It is publicly traded on the TSX-Venture Exchange (TSXV: DBG), (OTCQB: DBLVF), (WKN: LA1W038), and (FSE: 1D4). Doubleview focuses on identifying, acquiring, and financing precious and base metal exploration projects across North America, with a strong emphasis on British Columbia. The company enhances shareholder value through the acquisition and exploration of high-quality gold, copper, cobalt, scandium, and silver projects-collectively critical minerals-utilizing cutting-edge exploration techniques.
Doubleview’s success is deeply rooted in the unwavering support of its long-term shareholders, supporters, and institutional investors. Their ongoing commitment has been instrumental in advancing the company’s strategic initiatives. Doubleview looks forward to further collaborative growth and development, and continues to welcome active participation from its valued stakeholders as the company expands its portfolio and strengthens its position in the critical minerals sector.
About the Hat Polymetallic Deposit
The Hat Deposit, located in northwestern British Columbia, is a polymetallic porphyry project with major resources of copper, gold, cobalt, and the potential for scandium. As one of the region’s significant sources of critical minerals, the Hat deposit has undergone targeted exploration and development. The 0.2% CuEq cut-off resource estimate, as of the recently completed Mineral Resource Estimate and the Company’s July 25, 2024, news release, is summarized below:
Average Grade
Metal Content
Open Pit Model Hat
Resource Category
Tonnage
CuEq
Cu
Co
Au
Ag
CuEq
Cu
Co
Au
Ag
Mt
%
%
%
g/t
g/t
million lb
million lb
million lb
thousand oz
thousand oz
In Pit
Indicated
150
0.408
0.221
0.008
0.19
0.42
1,353
733
28
929
2,045
Inferred
477
0.344
0.185
0.009
0.15
0.49
3,619
1,945
91
2,328
7,575
Scandium potential for the Hat Deposit is estimated to be 300 to 500 million tonnes at an average grade of 40 ppm (0.004%) Sc2O3.
For further details of the MRE, please refer to the Company’s July 25, 2024 news release.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
For further information please contact:
Doubleview Gold Corp Vancouver, BC Farshad Shirvani President & CEO
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.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. 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.
The 2025 Winter Drill Program is fully funded and anticipated to commence February 1, 2025.
The 2025 Winter Drill Program is targeting 6,000 – 8,000 metres (m) of drilling using two diamond drill rigs.
The primary objective is to continue to expand upon the exceptional drill results from the 2024 drill campaign.
(Q2 or the Company) is pleased to announce that the 2025 Winter Drill Program (the 2025 Winter Program) at its Cisco Lithium Project (the Project or the Cisco Project) is anticipated to begin on February 1, 2025. Crews will be mobilizing to the Cisco Project over the course of the next week.
Video Overview of Q2 Metals and the Cisco Lithium Project
The primary objective of the 2025 Winter Program is to continue to expand upon the exceptional drill results from the 2024 drill campaign which included:
Drill hole CS-24-018 – 215.6 m at 1.69% Li2O
Drill hole CS-24-021 – 347.1 m at 1.35% Li2O; and
Drill hole CS-24-023 – 188.6 m at 1.56% Li2O
Alicia Milne, Q2 Metals President and CEO commented: “We are excited to get back to work on the Cisco Project to continue to reveal its true potential and look forward to unlocking further value for our shareholders as we expand on the known mineralization zone by stepping out into untested areas of the Project.”
“Since completing the 2024 Drill Program, our team has been evaluating all of the data that was collected to gain a better understanding of what we’re seeing at Cisco,” stated Neil McCallum, Q2 Metals VP of Exploration. “We have several highly promising targets that we are eager to explore to better understand the extent of Cisco.”
The 2025 Winter Program is planned to continue until mid-April 2025, targeting 6,000 – 8,000 m of drilling. Once the program begins, systematic drilling will be carried out with step outs between 200 and 400 m apart (Figure 1 and Figure 2).
Figure 1. Map showing 2025 Winter Program drill targets
One diamond drill rig will test to the southwest of drill hole CS-24-023 to define the strike length, and the other drill rig will test to the east of drill hole CS-24-018 and CS-24-021 to define potential additional parallel pegmatite zones.
Figure 2. Long Section containing all holes drilled to date (looking southwest)
Upcoming Events:
AME Roundup Core Shack
Q2 is pleased to have been selected as a participant in the core shack at the upcoming AME annual Roundup conference being held in Vancouver, BC from January 20 – 23, 2025.
Vice President of Exploration Neil McCallum as well as senior project geologists will be on hand with core from the 2024 drill season at Cisco. Mr. McCallum will also be presenting at the Critical and Base Metals Speaker Session on Tuesday January 21, 2025.
For more information on AME Roundup, please click here.
PDAC Booth and Core Shack
The Company will be attending and exhibiting on site at the 2025 Prospectors & Developers Association of Canada event (“PDAC 2025”) in Toronto, ON. Q2 is exhibiting in the Investors Exchange from March 2 – 5, 2025 at booth number 2726.
Additionally, Q2 Metals is pleased to announce that the Company has been selected to exhibit core from the Cisco Lithium Project at PDAC 2025. More details to be provided as the event approaches.
For more information on PDAC 2025, please click here.
About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both the Cisco Lithium Project and its 100-per-cent-owned Mia Lithium Project.
The Cisco Project is comprised of 767 claims, totaling 39,389 hectares (“ha”). The Cisco Project transects the Billy Diamond Highway, and the main mineralized zone is located only 6.5 kilometres (“km”) away from the highway. The Cisco Project is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay; and is within the greater Nemaska traditional territory of the Eeyou Istchee Territory, James Bay, Quebec.
The Cisco Project is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium District, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.
The Cisco Lithium Project has district-scale potential with an already identified mineralized zone and discovery drill results that include:
120.3 metres at 1.72% Li2O (hole CS-24-010);
215.6 metres at 1.69% Li2O (hole CS-24-018);
347.1 metres at 1.35% Li2O (hole CS-24-021); and
188.6 metres at 1.56% Li2O (hole CS-24-023)
Since May 2024, the Company has drilled a total of 6,359.7 m over 17 holes. All drill holes intercepted pegmatite with visual indications of spodumene mineralization identified.
Neil McCallum, B.Sc., P.Geol, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by NI 43-101 (“QP”), has reviewed and approved the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regarding the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, the prospectivity of the greenstone rocks in the area, the possibility of future development and mining infrastructure scenarios, the potential for development, the potential scale of the Cisco Project, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company’s expectations in connection with the projects and exploration programs being met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the “Company” or “Military”) is pleased to announce that it has entered into an asset purchase agreement (the “Agreement”), dated effective January 15, 2025 to acquire further claims surrounding its West Gore Antimony Project (“West Gore” or the “Project”) to consolidate the mineralized area located in Nova Scotia, Canada (the “Transaction”). A historically significant antimony producer, West Gore produced 7,000 tonnes of antimony concentrate grading 46% antimony between 1914 to 1917, making a significant contribution to the Allied war effort during World War One until a shipment to England was sunk by a German U-boat and the company then operating went bankrupt.
West Gore consists of four exploration licenses comprising 585 hectares located in Hants County, Nova Scotia, Canada, and the newly acquired ground adds 388 hectares under additional exploration licenses to the immediate northwest of the Project, which is thought to comprise the balance of the West Gore antimony-gold mineralized system and includes its historical mine workings. The Company has acquired a 100% interest in the additional claims for $235,000 from ExplORE Resources Ltd. (“ExplORE”), which is spread over two years and ExplORE will receive a 3% Net Smelter Royalty (“NSR”). The NSR buydown provisions include $500,000 on the first 1%, and $1,000,000 on an additional 1%, providing Military the opportunity to reduce the overall NSR to 1% at its sole discretion.
The historical West Gore mines have a mining history dating back to 1883 and were a significant source of antimony during the First World War, most of which was shipped to England. Total production of gold and antimony between 1883 and 1917, the last recorded year of production, remains unknown. However, between 1914 and 1917, nearly 32,000 tonnes were mined yielding over 7,000 tonnes of antimony concentrate grading 46% antimony. The total amount of gold recovered up to 1917 was estimated to be nearly 6,900 ounces. Aside from minor exploration work in the 1960s, the 1980s, and again over the past few years, the West Gore system remains essentially unexplored in modern times.
With the acquisition of the new claims on completion of the Transaction, the Company will gain significant coverage over the mineralized system including all the historical mine workings and known antimony-gold occurrences with additional ground along trend in both directions as exhibited in Map 1 below. This in turn is anticipated to enable the Company to approach this antimony-gold system in its entirety to unlock future value. All relevant data are in the process of being compiled into an integrated digital database, with exploration plans to follow.
Antimony-gold mineralization at West Gore is hosted in graphitic and sulfide-bearing slates of the lower units of the Cambrian-age Halifax Formation that were deformed into a northeast-trending, upright, closed syncline and metamorphosed to greenschist facies during the regional Acadian orogeny. Mineralization occurs as stibnite, native antimony, aurostibnite, and antimony-gold alloys and oxides. Whereas the fold belt strikes northeast-southwest, mineralized structures trend northwest-southeast.
The technical contents of this release were reviewed and approved by Avrom E. Howard, MSc, PGeo, geological consultant to Military Metals and a qualified person as defined by National Instrument 43-101.
About Military Metals Corp.
The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development of mineral properties with a focus on antimony.
This news release contains “forward-looking information”. 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”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this news release includes statements related to the completion of the Transaction, as well as future plans for exploration activities, and assumptions related to the continuation of the global demand for antimony. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include entry into a definitive agreement in respect of the Acquisition, meeting the conditions to close the Acquisition, geopolitical developments related to the supply of antimony, the continued use of antimony and availability of alternatives, availability of capital and labour in respect of the properties that are the subjects of this news release, the results of any future exploration activities, which cannot be guaranteed, and such other factors as may impact both the Acquisition and any future activities in respect of the properties held by the Target. Additional risk factors can also be found in the Company’s public filings under the Company’s SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward looking statements if circumstances, management’s estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium pre-production company, is pleased to announce two pivotal additions to its leadership team, marking a significant step forward in the Company’s journey to becoming a leading lithium producer at its Neves Project in Brazil’s thriving Lithium Valley.
Strengthening Project Implementation Expertise with Eduardo Queiroz
Eduardo Queiroz joins Atlas Lithium as Project Management Officer (PMO) and Vice President of Engineering, bringing over 20 years of hands-on experience managing complex, large-scale mining projects, and making him the perfect addition to drive the Company’s Neves Project to revenue generation. Mr. Queiroz has more than two decades of expertise in managing large-scale and complex mining projects, most recently as General Manager of Planning and Management at Bamin, a unit of Eurasian Resources Group, where he successfully led the strategic planning of several projects over US$3 billion, including an integrated iron ore mining project encompassing mining operations, processing plant, railway, and ocean port facilities. His comprehensive experience includes engineering oversight, environmental compliance, risk management, and the implementation of cost-efficient operational strategies. He holds an MBA in Project Management from Fundação Getúlio Vargas and a degree in Civil Engineering from the Universidade Federal de Ouro Preto.
“Eduardo’s arrival could not come at a better time,” said Marc Fogassa, CEO and Chairman of Atlas Lithium. “As we prepare to transition into production, his proven track record in the implementation of Brazilian mining projects will be instrumental in our success. We are honored and thrilled to have him on our team.”
Expanding Asian Market Presence with Lili Wu
In addition to strengthening our technical capabilities, Atlas Lithium is expanding its global footprint with the appointment of Lili Wu as Head of Business Development for Asia. Based in Beijing, Ms. Wu brings a wealth of knowledge and an extensive network in the lithium and battery materials industries. Her prior roles at InsightWoo and IHS Markit (now part of S&P Global) demonstrate her ability to drive results in international markets. From negotiating long-term procurement agreements to advising top financial institutions on lithium investments, she has a proven ability to add value in the ever-evolving lithium supply chain. Ms. Wu holds a Master’s degree in Accounting from the University of New South Wales and a Bachelor’s degree in International Trade from Beijing International Studies University.
The appointment of Ms. Wu comes at a strategic time as Atlas Lithium continues to strengthen its market presence in regions experiencing robust electric vehicle growth. Recent market data shows China’s electric vehicle (EV) sales jumped 51% year-over-year as of November 2024, underlining the region’s vital role in the global energy transition. With established offtake agreements with major partners like Mitsui & Co. in Japan and leading lithium chemical producers Chengxin and Yahua in China, Atlas Lithium has commercial relationships in key growth markets. This global approach positions the Company to capitalize on worldwide opportunities in the lithium supply chain while reducing dependence on any single regional market.
“I have had the privilege of working with Lili and her contributions have already been invaluable to Atlas Lithium,” said Fogassa. “Her unparalleled work ethic and deep understanding of the Asian lithium market make her the perfect ambassador for this high EV growth region.”
Positioned for Global Success
These strategic hires reflect the Company’s unwavering commitment to excellence as it advances toward production. Eduardo Queiroz and Lili Wu represent the next generation of leadership at Atlas Lithium, bringing the vision, expertise, and energy we need to achieve our ambitious goals.
“At Atlas Lithium, our mission is not just to mine lithium but to power the world’s transition to sustainable energy,” said Fogassa. “With Eduardo’s operational expertise and Lili’s unmatched ability to navigate the dynamic Asian markets, we are well-positioned for growth. With a world-class team and a clear vision, Atlas Lithium is ready to deliver value to our shareholders, partners, and the global energy ecosystem.”
About Atlas Lithium Corporation
Atlas Lithium Corporation (NASDAQ: ATLX) is advancing to production its wholly owned hard-rock lithium Neves Project located in the state of Minas Gerais, Brazil. The Neves Project has received operational permitting from Minas Gerais in October 2024. Additionally, with 539 square kilometers of lithium mineral rights, Atlas Lithium owns the largest lithium exploration footprint in Brazil of any publicly listed company. The company also holds a 32.7% ownership stake in Atlas Critical Minerals Corporation (formerly Jupiter Gold Corporation), a diversified mining company with significant mineral rights in rare earths, copper, graphite, nickel, iron ore, gold, and quartzite.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.
Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Form 10-K/A filed with the Securities and Exchange Commission (the “SEC”) on November 9, 2024. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.
Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (Kincora or the Company) is pleased to confirm the closing of its previously announced private placement of 33,500,659 shares, raising gross proceeds of AUD$1,273,025 (CAD$1,206,024). The placement was conducted in two tranches:
Closing of Private Placement
First Tranche Closed on October 22, 2024, with the issuance of 12,576,031 shares for total gross proceeds of AUD$477,889 (CAD$452,737).
Second Tranche Closed on December 18, 2024, with the issuance of 20,924,627 shares for total gross proceeds of AUD$795,136 (CAD$753,287).
Insiders/Directors participated in the second tranche as follows:
Cameron McRae: 568,421 shares
John Holliday: 568,421 shares
Jeremy Robinson: 248,211 shares
Big Ben Holdings Pty Limited: 5,751,974 shares
The shares were issued at a price of 3.8 Australian cents (approximately 3.6 cents) per share, with one attaching option for every two shares issued. Each option has an exercise price of 7.5 Australian cents (approximately seven cents) and a two-year term. The issue price represents a 12-per-cent discount to the last closing price on October 10, 2024, and a 16-per-cent discount to the 15-day volume-weighted average price on the Australian Securities Exchange. Morgans Corporate Ltd has acted as Lead Manager. Associated with the raising a 3.9% (AUD49,478) cash fee was paid on funds raised.
A portion of the private placement and the shares for services are related party transactions within the meaning of Multilateral Instrument 61-101. The Company is relying on the exemptions in sections 5.5(a) and 5.7(1)(a)of Multilateral Instrument 61-101 (the “Instrument”) from the valuation and shareholder approval requirements of the Instrument in respect of the private placement and the shares for services, based on the fact that the fair market value of the transactions (as it concerns related parties) is not more than 25% of the market capitalization of the Company.
Performance Rights Exercise
Following approves at the December 10, 2024, shareholders meeting and the Company announces the exercise of 3,877,370 performance rights by certain directors, officers, and consultants. These performance rights were granted on February 17, 2022, and have now vested. The shares have been issued at a price of $0.13 per share, with the following breakdown:
Cameron McRae: 1,692,308 shares
Jonathan (Sam) Spring: 1,884,754 shares
John Holliday: 223,385 shares
Sam McRae: 76,923 shares
The Equity Incentive Plan (“EIP”) is approved annually by shareholders and a key element of the Company’s total compensation package to the board, senior management and eligible consultants that seeks to align interests to shareholders, reduce cash costs and increase the amount of cash invested in exploration.
Shares for Services
Following approves at the December 10, 2024, shareholders meeting, the Board of Directors has approved the issuance of 7,169,335 common shares to certain officers, directors, and consultants as payment for services provided in 2022, 2023, and the first half of 2024. These shares have been issued at various prices based on the respective periods of service, as detailed below:
Total Shares Issued: 7,169,335
Average Issue Price: $0.054 per share
The issuance of shares under this program has been conducted in compliance with regulatory approvals from the TSX Venture Exchange (TSXV) and the Australian Securities Exchange (ASX).
Regulatory Approvals
The issuance of shares for services is subject to final regulatory approval. The shares will be issued as fully paid and non-assessable common shares, and applications for listing on the ASX and TSXV will be made promptly.
Post the aforementioned issuances, the Company has 291,720,904 shares and 69,050,325 options outstanding.
This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763).
400 – 837 West Hastings Street Vancouver, BC V6C 3N6, Canada Tel: 1.604.283.1 Fax: 1.888.241.5996
Subsidiary office Australia
Vista Australia Level 4, 100 Albert Road South Melbourne, Victoria 3205 Fax: 1.888.241.5996
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Q2 Metals Corp.(TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company) announces that pursuant to its equity incentive plan and subject to the acceptance by the TSX Venture Exchange, the Company has granted 2,500,000 stock options to directors, officers, and consultants of the Company to purchase an aggregate of 2,500,000 common shares in the capital of the Company at an exercise price of $0.82 per share until December 20, 2029.
The Company has also granted an aggregate 750,000 deferred share units (each, a “DSU”) and 6,000,000 performance share units (each, a “PSU”) to certain directors and executive officers of the Company. The DSUs will vest one year after their date of grant and do not settle until a director ceases to serve as a director of the Company. The PSUs will vest on the later of (a) one year after their date of grant and (b) the successful completion of specific key performance objectives. Any PSUs that have not vested on or before December 20, 2027 will expire. Once vested, each PSU and DSU will entitle the holder thereof to receive either one common share of the Company or the cash equivalent of one common share, as determined by the board of directors of the Company, net of applicable withholdings.
Q2’s Equity Incentive Plan’s objective is to promote the long-term success of the Company and the creation of shareholder value by aligning the interests of eligible persons under the plan with the interests of the Company. The Equity Incentive Plan includes (i) a rolling 10% stock option plan and (ii) a fixed 10% plan which permits the Company to issue up to 13,041,422 common shares in respect of aggregate performance-based awards other than stock options.
About Q2 Metals Corp Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.
The Cisco Property is comprised of 767 claims, totaling 39,389 hectares (“ha”). The Cisco Property transects the Billy Diamond Highway, and the main mineralized zone is located only 6.5 kilometres (“km”) away from the highway. The Cisco Property is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay; and is within the greater Nemaska traditional territory of the Eeyou Istchee Territory, James Bay, Quebec.
The Cisco Property is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium District, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.
The Cisco Lithium Property has district-scale potential with an already identified mineralized zone and discovery drill results that include:
120.3 metres at 1.72% Li2O (hole CS-24-010);
215.6 metres at 1.69% Li2O (hole CS-24-018);
347.1 metres at 1.35% Li2O (hole CS-24-021); and
188.6 metres at 1.56% Li2O (hole CS-24-023)
Since May 2024, the Company has drilled a total of 6,359.7 m over 17 holes. All drill holes intercepted pegmatite with visual indications of spodumene mineralization identified.
Qualified Person Neil McCallum, B.Sc., P.Geol, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by NI 43-101 (“QP”), has reviewed and approved the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.
Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regarding the options, DSUs and PSUs granted under the Company’s equity incentive plan, the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, the prospectivity of the greenstone rocks in the area, the possibility of future development and mining infrastructure scenarios, the potential for development, the potential scale of the Cisco Property, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company’s expectations in connection with the projects and exploration programs being met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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.
Figure 1. Map showing 2025 Winter Program drill targets
Figure 2. Long Section containing all holes drilled to date (looking southwest)
