Latest news with #Abitibi
Yahoo
4 days ago
- Business
- Yahoo
Abitibi Metals' Expands Mineralization at Depth and Along Strike at the B26 Deposit
Highlights: Hole 1274-17-269-W2b intersected 30 metres of strong VMS style mineralization 80 metres beyond current resource boundary between 1,140 and 1,170 meters along the hole. Visual observations (refer to Figure 1) confirm the presence of copper stringers and mineralization in key growth corridors; assays pending. Hole 1274-25-368 intersected two multi-metre zones of disseminated copper and copper-sphalerite mineralization, located approximately 160 metres beyond previously drilled holes. The mineralized intervals were encountered between 662 and 686 metres downhole, assays are pending. A total of eight holes completed, and 7,000 metres drilled to date in Phase 3 drill program, with three rigs active and 10,500 metres remaining. London, Ontario--(Newsfile Corp. - August 7, 2025) - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to report on the progress of its ongoing Phase 3 drill program at the B26 polymetallic deposit in Québec. Drilling continues to successfully intersect mineralization beyond the current Mineral Resource Estimate ("MRE"), confirming the expansion of the mineralized footprint. The Company currently owns 50% of the B26 deposit and retains the option to earn an additional 30% from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023). As of this release, eight holes have been completed in Phase 3 and a total of 7,000 metres drilled to date, including holes drilled prior to breakup). To accelerate exploration efforts, a third drill rig was mobilized last week, targeting high-priority expansion zones across the western and down-plunge of the B26 mineralized system. Jonathon Deluce, CEO of Abitibi Metals, stated: "The Phase 3 drill program is simultaneously delivering multiple positive developments, and we are just beginning to unlock its full potential. Directional drilling offers a significant advantage over conventional methods by reducing costs while generating multiple intercepts in the same area. This approach allows us to quickly identify and focus on the most promising zones, optimizing capital allocation and maximizing value for our project-and ultimately, for our shareholders." Drilling Update at B26 Deposit: Abitibi has completed several key step-out holes designed to test the boundaries of the current resource model. Visual analysis of core indicates strong mineralization in multiple holes. Notable Highlights include: 1274-17-269-W1b: Intersected a mineralized zone approximately 80 metres beyond the existing MRE, representing a meaningful step-out and validating continued growth potential. This hole encountered a heavily mineralized interval of 6.6 metres from 993.0 within a broader 17.4-metre mineralized package between 982.2 and 999.6 metres downhole; assays are pending. 1274-17-269-W2b: This hole, a second Devico branch from the original hole 1274-17-269, cut 30 metres of strong VMS style copper stringers mineralization 80 metres beyond current resource boundary between 1,140 and 1,170 meters along the hole. The intercept is located some 80-metre east of hole 1274-24-338W1 and about 160 metres below 1274-17-269-W1b. 1274-25-368: The hole cut the mineralized envelope at predicted depth. A 1.7-metre chalcopyrite bearing intercept and a 1.2-metre sphalerite - chalcopyrite bearing intercept were cut between 682 and 686 metres in the hole. The hole targets an additional 160-metre step-out from hole 1274-16-234 in the eastern extension, aimed at following up on previously intersected mineralization. 1274-25-367: Drilling has been completed with core processing in progress. Drilling targeted an additional 80-metre step-out from hole 1274-14-182 in the eastern extension, aimed at following up on previously intersected mineralization. Figure 1: Copper stringers mineralization observed in Hole 1274-17-269W2b To view an enhanced version of this graphic, please visit: Figure 2: B26 Long Section with Holes Completed To view an enhanced version of this graphic, please visit: About B26 polymetallic project: The B26 polymetallic deposit is a rapidly advancing copper-gold asset with strong growth potential, underpinned by a recently announced Mineral Resource Estimate of 11.3 million tonnes at 2.13% CuEq (Indicated) and 7.2 million tonnes at 2.21% CuEq (Inferred). The deposit hosts approximately 550 million pounds of copper, 370,000 ounces of gold, along with significant zinc and silver credits, establishing B26 as a cornerstone asset in Québec's critical minerals strategy. With high-impact exploration underway, a growing resource base, and strong copper-gold fundamentals, the B26 deposit is well-positioned to become a premier polymetallic resource supporting the global shift toward electrification and Québec's critical minerals supply chain. On November 16, 2023, Abitibi Metals entered into an option agreement with SOQUEM Inc., a subsidiary of Investissement Québec, to earn up to 80% ownership of the B26 Deposit over seven years (see November 16, 2023 press release). The Company currently holds 50% ownership and is actively advancing toward earning an additional 30% interest. Located just 5 km south of the past-producing Selbaie Mine, B26 lies within the heart of Québec's Abitibi region-approximately 90 km west of the Matagami mining camp and 140 km north-northwest of Amos. The project spans 66 contiguous mining claims, totaling 3,328.51 hectares, and benefits from exceptional infrastructure in a well-established mining district. B26 is characterized by stacked massive and semi-massive polymetallic sulfide lenses, extending over one kilometre within a steeply dipping felsic volcanic basin. Mineralization is hosted primarily in rhyolite and associated tuffs, with two main styles observed: A northern domain, copper-rich chalcopyrite veins and veinlets are hosted in sericitized and chloritized rhyolite. A southern domain, disseminated to massive sphalerite, pyrite, and galena mineralization hosted in a dome of massive rhyolite. These mineralized zones are stacked sub-parallel, generally trending east-west and dipping 87° south, highlighting a structurally complex and prospective system that remains open laterally and at depth. Phase 3 Drill Program: Driving Growth and Value The ongoing Phase 3 drill program is designed to strategically advance B26 through three key objectives: Resource Growth - Higher-Grade Focus:Targeted drilling is aimed at defining the continuity of previously underestimated higher-grade zones, improving the geological model and structural orientation and continuity. Expansion of Mineralized Trends:Step-out drilling is testing open-ended mineralized zones both at depth and along strike, with the goal of increasing overall tonnage and mineralized footprint. Unlocking Regional Potential:Exploration will also target new discoveries across the project's broader 8 km east-west trend and a 7 km northwest-southeast corridor between B26 and the past-producing Selbaie mine. Collectively, these targets represent a critical step in unlocking the next phase of growth at B26. With the potential to significantly expand the strike length, depth, and overall mineralized footprint of the deposit, this phase of drilling could significantly enhance the scale, grade continuity, and long-term development potential of one of Quebec's most promising mineral deposits. Looking Ahead: Initial assay results from Phase 3 are expected in the coming month and will continue throughout the remainder of 2025. Abitibi Metals is fully funded to Q1, 2027, the Company has budgeted approximately 25,000 additional metres for Phase 4 drilling, to be strategically deployed in 2026 based on ongoing exploration success. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, (OIQ #107538), VP Exploration of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About Abitibi Metals Corp: Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate of 11.3MT @ 2.13% Cu Eq (Ind.: 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf.: 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), and the Beschefer Gold Project, where historical drilling has identified four historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) amongst four modeled zones. About SOQUEM: SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. ON BEHALF OF THE BOARD Jonathon Deluce, Chief Executive Officer For more information, please call 226-271-5170, email info@ or visit The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements: Twitter: LinkedIn: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada - Geostat., Effective Date: November 1, 2024, Date of Report: February 26, 2025 Forward-looking statement: This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations. To view the source version of this press release, please visit
Yahoo
28-07-2025
- Business
- Yahoo
Radisson Discovers Exceptional Visible Gold in Surface Trench Thirty Metres from O'Brien Core Shack and Office
Rouyn-Noranda, Quebec--(Newsfile Corp. - July 28, 2025) - Radisson Mining Resources Inc. (TSXV: RDS) (OTCQB: RMRDF) ("Radisson" or the "Company") is pleased to announce the discovery of a significant occurrence of coarse visible gold in a new surface trench excavated at its 100%-owned O'Brien Gold Project ("O'Brien" or the "Project") located in the Abitibi region of Québec. The trench is the first of several planned for the summer exploration program at O'Brien and is located just thirty metres east of the O'Brien core shack and office complex, close to the projected surface extension of the celebrated "Jewellery Box" zone. Figure 1: Coarse visible gold in Quartz-Sulphide-Gold Veining in Piché Group rocks, Trench OB-25-TR001, O'Brien Gold Project. Looking east. To view an enhanced version of this graphic, please visit: Matt Manson, President & CEO, commented: "Coarse visible gold in drill core is not unusual at the O'Brien Gold Project. Here we are reporting a notable example in a surface trench, found under light overburden immediately adjacent to the Project's office facilities. The trench was opened to provide exposure to Piché Group rocks in the hanging-wall of Cadillac-Larder Lake Break and to better understand the morphology and continuity of O'Brien's quartz-sulphide-gold veins. We did not expect the first trench to return such a world-class example of "under-foot" gold mineralization. This discovery is reminiscent of the historic prospecting experience in the Abitibi and illustrates the continued discovery potential of the region, even in the shadow of existing infrastructure." Matt Manson continued: "The trench location is close to the interpreted surface projection of the "Jewellery Box" zone, a vertical and narrow mining stope in the historic O'Brien Gold Mine noted for extremely high grades and museum-quality gold samples. In December, Radisson reported the likely rediscovery of the Jewellery Box with a drill intercept of 643.1 grams per tonne ("g/t") gold ("Au") over 2.1 metres, including 1,345.0 g/t Au over 1.0 metre at approximately 200 metres vertical depth (see Radisson News Release dated December 9, 2024). Today's news confirms an extremely rich gold mineralizing environment in and around this zone, including at surface. This area is outside the scope of the Project's Mineral Resources and the recently published Preliminary Economic Assessment (see Radisson News Release dated July 9, 2025). Additional trenching is planned as part of our summer exploration program, and the discovery site has been secured against unauthorized access." Figure 2: Host of the coarse visible gold occurrence and the classic setting of O'Brien gold mineralization exposed in Trench OB-25-TR001: a three-metre wide zone of Quartz-Sulphide-Gold veining with a Z-fold, within an envelop of high-strain, biotite alteration and semi-massive sulphides. Hosted within units of the Piché Group ("TX": Crystal Tuff, "S3p": Conglomerate). Looking east. To view an enhanced version of this graphic, please visit: Qualified Persons Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Luke Evans, ing, of SLR Consulting (Canada) Ltd., is the Qualified Person responsible for the preparation of the Mineral Resource Estimate at O'Brien. Each of Mr. Nieminen and Mr. Evans is independent of Radisson and the O'Brien Gold Project. About Radisson Mining Radisson is a gold exploration company focused on its 100% owned O'Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. A July 2025 Preliminary Economic Assessment described a low cost and high value project with an 11-year mine life and significant upside potential based on the use of existing regional infrastructure. Indicated Mineral Resources are estimated at 0.58 million ounces (2.20 million tonnes at 8.2 g/t Au), with additional Inferred Mineral Resources estimated at 0.93 million ounces (6.67 million tonnes at 4.4 g/t Au). Please see the NI 43-101 "Technical Report on the O'Brien Project, Northwestern Québec, Canada" effective March 2, 2023 and other filings made with Canadian securities regulatory authorities available at for further details and assumptions relating to the O'Brien Gold Project. For more information on Radisson, visit our website at or contact: Matt MansonPresident and CEO416.618.5885mmanson@ Kristina PillonManager, Investor Relations604.908.1695kpillon@ Forward-Looking Statements This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to the ability to execute the Company's plans relating to the O'Brien Gold Project as set out in the Preliminary Economic Assessment; the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the O'Brien Gold Project; the absence of unforeseen operational delays; the absence of material delays in obtaining necessary permits; the price of gold remaining at levels that render the O'Brien Gold Project profitable; the Company's ability to continue raising necessary capital to finance its operations; the ability to realize on the mineral resource and mineral reserve estimates; assumptions regarding present and future business strategies, local and global geopolitical and economic conditions and the environment in which the Company operates and will operate in the future;, planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, and the ability to incorporate new drilling in an updated technical report and resource modelling; the Company's ability to grow the O'Brien Gold Project; the ability to negotiate and execute an arrangement with IAMGOLD related to the Doyon Mill on satisfactory terms or at all; and the ability to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others; the risk that the O'Brien Gold Project will never reach the production stage (including due to a lack of financing); the Company's capital requirements and access to funding; changes in legislation, regulations and accounting standards to which the Company is subject, including environmental, health and safety standards, and the impact of such legislation, regulations and standards on the Company's activities; price volatility and availability of commodities; instability in the global financial system; the effects of high inflation, such as higher commodity prices; the risk of any future litigation against the Company; changes in project parameters and/or economic assessments as plans continue to be refined; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks relating to the drill results at O'Brien; the significance of drill results; and the ability of drill results to accurately predict mineralization. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news release. Please refer to the "Risks and Uncertainties Related to Exploration" and the "Risks Related to Financing and Development" sections of the Company's Management's Discussion and Analysis dated April 29, 2025 for the years ended December 31, 2024, and the Company's Management's Discussion and Analysis dated May 28, 2025 for the three-months ended March 31, 2025, all of which are available electronically on SEDAR+ at All forward-looking statements contained in this press release are expressly qualified by this cautionary statement. 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
14-07-2025
- Business
- Globe and Mail
Orbec Completes Over 2,000 Meters of Diamond Drilling on Its 100% Owned Muus Gold Property, Chibougamau, Quebec
Brossard, Quebec--(Newsfile Corp. - July 14, 2025) - Mines d'Or Orbec Inc. (TSXV: BLUE) (OTC Pink: BLTMF) is pleased to announce the successful completion of its 2,000+ metre spring 2025 drilling campaign at its 100% owned Muus property, located in Quebec's Abitibi Greenstone Belt. All assays are pending and are expected to be received from the independent laboratory in approximately 6 weeks. Nevertheless, based on the geology intersected by drilling in this campaign, the latest results further appear to confirm the property's potential to host gold mineralization. MUUS25-23 (along hole depth: 216 m) Sedimentary rock Patchy silicification. Observed Disseminated pyrite. Image 1 To view an enhanced version of this graphic, please visit: Unlocking Value in a Prolific Gold District The Muus property is strategically located along the Guercheville Deformation Zone ("GDZ"), a major known gold-bearing structure that also hosts IAMGOLD's Gold Discovery multi-million ounce indicated mineral resource (as defined below) Nelligan Deposit, which is about just 27 km to the east of our recent drilling and is also located along the GDZ. The Abitbi greenstone belt is one of Canada's most productive gold structures, and Orbec's dominant land position of approximately 25,000 ha gives it discovery upside. Promising Results from Spring 2025 Drilling Drilling was performed in the Lac Bernard area, in the western part of the Muus property. Drilling was designed to intersect lineaments interpreted from a 2025 high-resolution magnetic drone survey (25 m line spacing) and to follow-up on historical drilling results obtained east and west of our current targets. The targeted areas were reached within time and budget, and Orbec is now waiting on assays. The Lac Bernard area, the focus of the Spring drilling campaign, delivered encouraging drill results that reinforce the geological similarities to nearby major gold systems such as IAMGold's Nelligan Discovery, which has an indicated mineral resource of 3.1 million ounces of Gold in 102 million tonnes at 0.95 grams per ton and an inferred mineral reserve of 5.1 million ounces of Gold in 166 million tonnes at 0.96 grams per ton, NI43-101 as of December 31, 2024. (The QP has been unable to verify the information, and that the information is not necessarily indicative to the mineralization on the property that is the subject of the disclosure). Key drill holes, MUUS25-23 and MUUS25-19, intersected multiple silicified and pyrite bearing zones—hallmarks of gold mineralization in the region. The presence of fuchsite, a mineral often associated with gold-bearing systems, strengthens the case for a robust mineralized environment on the property. The occurrence of a thick competent sedimentary unit (siltstone) that contains strong veining of grey quartz. These results, combined with historical gold values, highlight the Muus property as a highly prospective exploration opportunity. "I'm very happy with our geological team's effort throughout this campaign. These results confirm our belief in the untapped potential of the Muus property," said John Tait, President and CEO. "We are very excited by the scale of the opportunity and look forward to receiving our assays back by early September." QUALIFIED PERSON Technical information in this news release has been approved by Lucie Mathieu, OGQ #1774, technical adviser to the Company, who is a Qualified Person (QP) for the purpose of National Instrument 43-101. Option Grant The Company also announces that its Board of Directors has approved the grant of stock options to certain Officers, Directors, and Consultants of the Company for the purchase of up to 4,150,000 common shares. The options are exercisable at a price of $0.06 per share and will expire five years from the date of grant, being July 11, 2030. The stock option grant was made in accordance with the Company's existing Stock Option Plan and remains subject to the approval of the TSX Venture Exchange and applicable regulatory authorities. About Mines D'Or Orbec Mine D'Or Orbec Inc. (TSXV: BLUE) (OTC Pink: BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district of Quebec with significant historical production and major recent discoveries. The project is situated on the two major regional trends hosting IAMGOLD's Nelligan and Northern Superior Resources Lac Surprise to the south and IAMGOLD's Monster Lake to the north with excellent highway and road access. The Muus Project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious- and base-metal mines in the District. ON BEHALF OF THE BOARD John Tait, CEO and Director For more information, please visit our website or contact John Tait, info@ Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements This news release contains "forward-looking information" and "forward-looking statements" (collectively, forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "proposed", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, incur and renounce exploration expenditures in the timelines indicated; the use of proceeds from the Offering, the Company's objectives, goals and exploration activities conducted and proposed to be conducted at the Company's properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company's properties will be successful; exploration results; and future exploration plans and costs and financing availability. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Company's properties; the receipt of all applicable regulatory approvals for the Offering; the completion of the Offering on the terms described herein, or at all; failure to identify any mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company's properties; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management's discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Yahoo
04-07-2025
- Business
- Yahoo
Abcourt Mines finalises $8m loan to reopen Sleeping Giant mine in Quebec
Abcourt Mines has finalised a $8m secured financing facility with Nebari Natural Resources Credit Fund II in a critical step towards reopening the Sleeping Giant mine in Quebec, Canada. The Sleeping Giant is situated midway between Amos and Matagami in the Abitibi region of Quebec and falls within the jurisdiction of the Quebec government's Plan Nord. The property comprises four mining leases spanning 458 hectares, and 69 mining claims. The 36-month loan agreement bears interest based on a floating rate per annum, combining the three-month term secured overnight financing rate (SOFR) and an additional 12% per annum. The SOFR will be considered as 4% if it falls below this threshold. The facility allows for early repayment after the first year, with a 25% absolute return on the prepaid principal amount for the lender. Abcourt has issued 87,040,000 non-transferable warrants to the lender, exercisable at C$0.0625 per common share until 3 July 2028, with terms subject to adjustments based on prepayments and TSX Venture Exchange policies. Abcourt president and CEO Pascal Hamelin stated: 'Closing this transaction with Nebari is a major step toward starting production at the Sleeping Giant mine. 'This investment of $8m of non-dilutive capital offers us solid operational flexibility going forward and allows the company to develop the Sleeping Giant mine toward a commercial production status.' The company has also incurred an arrangement fee of $120,000 and will pay a monthly administration fee of $2,500 post-closing date. Security arrangements for the loan include a priority senior security on all of Abcourt's properties, subject to certain permitted liens. This encompasses real property interests, mining rights, inventory and equipment. The funds will be utilised for essential operations to initiate gold production. Immediate plans include constructing a sleep camp and kitchen, continuing work on tailing facilities, commencing production in the upper level of the mine and developing lower levels to open new mining fronts. "Abcourt Mines finalises $8m loan to reopen Sleeping Giant mine in Quebec" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
02-07-2025
- Business
- National Post
Solstice Gold Completes Initial Drill Program and Announces Strategic Claim Acquisition at the Strathy Gold Project in the Temagami Greenstone Belt, Abitibi Subprovince, NE Ontario
Article content – Assay Results Pending – Article content VANCOUVER, British Columbia — Solstice Gold Corp. (TSXV: SGC) (' Solstice ', 'we', 'our' or the ' Company ') is pleased to announce the successful completion of the Spring 2025 drill program at the Strathy Gold Project (the ' Project '), located in the Temagami Greenstone Belt in the prolific Abitibi Subprovince in Ontario. Solstice also announces that we have entered into an agreement with an arms-length party to acquire 17 claims which expand our core Strathy Gold Project holdings by 50% (the ' Agreement '). Article content Spring 2025 Drill Program Article content The Spring 2025 drill campaign was successfully completed on four target areas (Figure 1) for a total of 3,125m across 14 drill holes. At least 50% more sampling than originally planned has extended assay timelines. Assays are pending and will likely be received in July. Land Acquisition Article content Solstice has entered into the Agreement to acquire a 100% interest in a group of 17 contiguous unpatented claims directly adjacent to the core claims of our Strathy Gold Project (the ' Acquisition '). These claims are underlain by the Archean-age Leckie-group metavolcanic assemblage, which is the main host rock for the Project's main targets. Targeting from Solstice's 2024 IP program show high priority targets may extend along strike onto these claims. They also contain OGS gold showings along a large structure parallel to the IP targets. The combined area of these claims will add 373 hectares to our core claim block, increasing its area by 50%. Solstice has also been active in staking at the Strathy Gold Project since the Spring 2025 drill program began. Solstice has acquired 110 hectares of claims at the western side of the Project via staking. These claims are also underlain by an Archean-age metavolcanic assemblage and represent a valuable expansion of our wider land position. Article content Claim Agreement Article content Pursuant to the Agreement, in consideration for the purchase of the 17 unpatented claims pursuant to the Acquisition, Solstice must issue 175,000 common shares to an arms-length seller as soon as practicable following TSX Venture Exchange ('TSXV') approval. The common shares will be subject to a four month hold period. The Acquisition is subject to the approval of the TSXV. No finders fee is payable with respect to the Acquisition. Article content About the Strathy Gold Project Article content The Strathy Gold Project is an extensive 45 km 2 land package in the Archean-age Temagami Greenstone Belt, which is the southernmost extension of the Abitibi Subprovince in Ontario. The Project includes parts of the Net-Vermilion Deformation Zone and the Link Lake Deformation Zone, which are two prominent Northeast-Southwest-trending structures crosscutting Archean metavolcanics. It contains documented, widespread high-grade gold mineralization, hosting historic intercepts of 5.00 g/t Au over 17.28m and 7.66 g/t Au over 7.25m (core lengths) at vertical depths of approximately 50-100 metres below surface 1, and documented surface sample results of up to 62.7 g/t Au 2. Despite this demonstrated prospectivity, the core claims at Strathy have not been systemically explored in the past. Article content A 17.5 line kilometre IP program carried out in November 2024 has detected known mineralization, and in addition to this, the IP results show extensive, better-developed and untested IP anomalies along the North and South extensions of the Leckie Fault. The drill program described above marks be the first time that the core area of the Strathy Gold Project has been systematically drilled. The Strathy Gold Project is located along the Trans Canada Highway, has excellent access to infrastructure and mining expertise. Article content For more detailed information on the Project, including a technical review of the project and a detailed review of IP results and targeting, please visit The Company wishes to point out that, since assays are pending, there is no certainty that observed mineralization will contain elevated gold. Article content References: Article content About Solstice Gold Corp. Article content Solstice is an exploration company with quality, district-scale gold projects in established mining regions of Canada. Our 45 km 2 Strathy Gold Project hosts high grade gold mineralization over a wide area straddling two NE-SW-trending structures. It is located in the Abitibi Subprovince of the Superior Craton and has never been systematically explored in its history. Our Qaiqtuq Gold Project which covers 662 km 2, hosts a 10 km 2 high grade gold boulder field, is fully permitted and hosts multiple drill-ready targets. Qaiqtuq is located in Nunavut, only 26 km from Rankin Inlet and approximately 7 km from the Meliadine Gold Mine owned by Agnico Eagle Mines Limited. Our district-scale Atikokan Gold Project is approximately 26 km from the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited. Our 194 km 2 Red Lake Extension (RLX) and New Frontier projects are located at the northwestern extension of the prolific Red Lake Camp in Ontario and approximately 45 km from the Red Lake Mine Complex owned by Evolution Mining. An extensive gold and battery metal royalty and property portfolio of over 80 assets was purchased in October 2021. Well over $2.5 million in value and over 20 new royalties have been generated since the acquisition. Article content Solstice is committed to responsible exploration and development in the communities in which we work. For more details on Solstice Gold, our exploration projects and details on our portfolio of projects please see our Corporate Presentation available at Article content Solstice's Chairman, David Adamson, was a co-award winner for the discovery of Battle North Gold Corporation's Bateman Gold deposit and was instrumental in the acquisition of many of the district properties in the Battle North portfolio during his successful 16 years of exploration in the Red Lake. Article content Sandy Barham, Senior Geologist, is the Qualified Person as defined by NI 43-101 standards responsible for reviewing and approving the technical disclosures of this news release. Article content 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. Article content Forward-Looking Statements and Additional Cautionary Language Article content This news release contains certain forward-looking statements ('FLS') including, but not limited to the need for more prospecting and analysis, the completion of the Acquisition including issuance of the common shares and TSXV approval, . FLS can often be identified by forward-looking words such as 'approximate or (~)', 'emerging', 'goal', 'plan', 'intent', 'estimate', 'expects', 'potential', 'scheduled', 'may' and 'will' or similar words suggesting future outcomes or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. In respect of the FLS, the Company has made certain assumptions that management believes are reasonable at this time. The assumptions include that the Company will have sufficient financial resources for sampling and prospecting this year and that the Acquisition will receive TSXV approval, however, there can be no assurance that such assumptions and statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from any FLS include, but are not limited to, limited capital or access to additional capital for prospecting, delays in obtaining or failures to obtain required TSXV, failure to complete the Acquisition, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, regulatory approvals and other factors. FLS are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. Article content Potential shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the FLS. Shareholders are cautioned not to place undue reliance on FLS. By their nature FLS involve numerous assumptions, inherent risks and uncertainties, both general and specific that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Solstice undertakes no obligation to update publicly or otherwise revise any FLS whether as a result of new information, future events or other such factors which affect this information, except as required by law. Article content Historical Sampling and Drilling Data and Information Article content The sampling and drilling data and information presented in this news release (the 'Historical Exploration Information') is historical in nature. The reader is cautioned that the Historical Exploration Information is based on prior data and reports previously prepared by third parties without the involvement of Solstice. Solstice has not undertaken any independent investigation, nor has it independently analyzed the results of the Historical Exploration Information in order to verify the results. The reader is cautioned not to treat Historical Exploration Information, or any part of it, as current and that a qualified person has not done sufficient work to verify the results and that they may not form a reliable guide to future results. No independent quality assurance/quality control protocols are known for these historic samples and drill holes and therefore the Historical Exploration Information may be unreliable. Solstice considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. Solstice considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling. Article content Article content Article content Article content On Behalf of Solstice Gold Corp. Article content Article content Article content Article content
