Latest news with #CanadianGoldCorp
Winnipeg Free Press
a day ago
- Business
- Winnipeg Free Press
McEwen Inc. seeks to acquire Canadian Gold
A Toronto-based company led by a Canadian Mining Hall of Fame veteran is seeking to buy a firm currently exploring a former Manitoba gold mine. McEwen Inc. signed a letter of intent to acquire Canadian Gold Corp. The latter, located in Flin Flon, holds 100 per cent interest in the Tartan Mine — a site near Flin Flon that produced 47,000 ounces of gold in 1987-89. Canadian Gold Corp. recently expanded its strike length of Tartan from eight kilometres to 29.5 km. It's been exploring the mine since 2023. The two companies signed the letter of intent July 27. The deal must receive approval from a majority of Canadian Gold shareholders; a special meeting is expected before 2026. McEwen Inc. has three gold mines in the U.S., Canada and Argentina. It's aiming to make an Argentina copper project one of the world's first regenerative copper mines. Rob McEwen, a mining hall of famer, leads the company. If approved, Canadian Gold shareholders will receive 0.0225 of a McEwen common share for each they hold. — Free Press staff
Yahoo
10-06-2025
- Business
- Yahoo
Canadian Gold Corp. Intersects Two Separate High-Grade Zones Returning 12.9 gpt Gold Over 3.0 Metres & 7.6 gpt Over 5.8 Metres Within Broad Mineralized Intervals at South Zone
Flin Flon, Manitoba--(Newsfile Corp. - June 10, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce ongoing drill results from its Phase 4 drill program at the 100%-owned Tartan Mine, near Flin Flon, Manitoba. Results contained in this news release are from the South Zone, which is parallel to the Main Zone (Fig. 1, 2 & 3), and prior to the recent drilling, was planned as a supplemental source of potential ore for future production. However, our objective has been to expand the resource in this area to 1) increase the number of ounces per vertical metre, 2) allow for higher production in a potential mine restart, and 3) drive economies of scale in order to lower future production and development costs. Recent expansion results from the South Zone, which increased the vertical extent of the mineralization by 120%, included 9.4 gpt gold over 3.3 metres and 6.1 gpt gold over 6.0 metres. "Today's results continue to build on the potential we see emerging at the South Zone. Despite the ongoing forest fire evacuation orders of Flin Flon and the surrounding region, including Tartan, our geology team, working diligently offsite, were able to get these encouraging drill results completed. Significant rainfall and cooler temperatures in the region over recent days have helped the firefighting crews and reduced the scope of the forest fires. We eagerly await the 'all clear' from the Province of Manitoba to be able to get back on site and resume the Phase 4 drill program." - Michael Swistun, CFA, President & CEO Drilling Highlights: Hole TLSZ25-35 intersected two separate high-grade gold zones, returning 12.9 gpt gold over 3.0 metres and 7.6 gpt gold over 5.8 metres, both occurring within broader zones of 3.7 gpt gold over 23.0 metres and 3.3 gpt gold over 17.2 metres, respectively. Similar to the Main Zone's lower grade material, the Company will be evaluating how best to mine and process this material within the potential mine life to best maximize the financial returns of the project. The identification of two distinct zones opens a new target for exploration not previously known at the South Zone. This development could materially increase the South Zone's total ounces per vertical metre, enhancing project economics and supporting a larger-scale restart scenario at the Tartan Mine. These intersections occur in separate intervals within the same hole, confirming the presence of two discrete zones of gold mineralization between 345 and 376 metres below surface, a new geological development not previously observed at the South Zone. Forest Fire Update On May 28, 2025, the Company temporarily suspended drilling at the Tartan Mine due to safety concerns related to the forest fires near Flin Flon. The Company will announce when it is safe to resume drilling. Table 1. Drilling Assay Highlights Drill Hole From(metres) To(metres) Interval1(metres) Depth Below Surface(metres) Gold Grade(gpt) Zone2 TLSZ25-34 463.00 464.00 1.00 403 12.3 SZ TLSZ25-35 210.00 214.00 4.00 172 4.4 HWZ Including 212.00 213.00 1.00 10.9 And 410.20 427.40 17.20 345 3.3 SZ Including 410.20 416.00 5.80 7.6 Including 415.00 416.00 1.00 26.2 And 450.00 473.00 23.00 376 3.7 Including 457.00 460.00 3.00 12.9 Including 457.00 458.00 1.00 21.0 And including 467.00 470.00 3.00 385 5.7 TLSZ25-37 167.00 169.00 2.004.3 SZ Including 168.00 169.00 1.007.0 And 172.00 175.50 3.503.0 Including 174.50 175.50 1.005.9 1Interval widths reported; true widths of the system are not yet known due to lack of drilling.2 SZ and HWZ refers to the South Zone and Hanging Wall Zone. Table 2. Details of Drill Holes Reported in This News Release Drill Hole Azimuth(Degrees) Dip(Degrees) Length(metres) Easting (UTM) Northing (UTM) TLSZ25-33W1 002 -66 686 324852 6081843 TLSZ25-33W2 002 -66 686 324852 6081843 TLSZ25-34 358 -61 557 324851 6081848 TLSZ25-35 002 -57 503 324881 6081867 TLSZ25-36 002 -54 599 324919 6081839 TLSZ25-37 359 -50 239 324784 6081959 For Further Information, Please Contact: Michael Swistun, CFA President & CEOCanadian Gold Corp.(204) 232-1373info@ Social Media Accounts:X (Twitter)InstagramFacebookLinkedIn Qualified Person The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101. Technical Information The samples collected by Canadian Gold Corp. described in this news release were transported in secure sealed bags for preparation and assay by ALS Labs in Thunder Bay, Ontario. The samples reported are NQ size ½ core samples crushed in their entirety to 80% passing -10 mesh, with one 500 g subsample split analysed for gold by PhotonAssay. About Canadian Gold Corp. Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen Mining Inc. (NYSE: MUX)) (TSX: MUX) holds a 5.7% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Mining, holds a 32.8% interest in Canadian Gold. CAUTION REGARDING FORWARD-LOOKING INFORMATION This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Figure 1. Tartan Mine Plan Map illustrating the location of the Main and South Zones. To view an enhanced version of this graphic, please visit: Figure 2. Tartan Mine - South Zone Longitudinal Section illustrating the location of holes reported in this release. To view an enhanced version of this graphic, please visit: Figure 3. Tartan Mine - Main Zone Longitudinal Section (from Feb 18, 2025 press release). To view an enhanced version of this graphic, please visit: 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
02-06-2025
- Business
- Globe and Mail
Searchlight Assigns Flin Flon North Project to Canadian Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 2, 2025) - Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) ("Searchlight" or the "Company") is pleased to announce that it has entered into an agreement with Canadian Gold Corp. (CGC) to option the Company's Flin Flon North project to CGC, for total compensation of $130,000 cash and $200,000 in CGC shares. The Flin Flon North project includes five claims covering 5,644.6 hectares, located 10 km north of Flin Flon, Manitoba (Map 1). The project is held by Searchlight under an option agreement with GEM Oil Inc. signed July 9, 2019 ("GEM Option"). Searchlight is assigning 100% interest in the GEM Option to CGC, for financial considerations outlined below. Terms of the Option Agreement Under the terms of the Option Agreement, and subject to the approval of the TSX Venture Exchange, over a four-year period CGC will be required to make the following cash and share payments to exercise the Option. Under the terms of the GEM Option, 25% of the payments will be made to GEM Oil and 75% to Searchlight. "Searchlight wishes to thank Gem Oil Inc. for optioning the original group of claims that serve as the foundation for this assignment to Canadian Gold Corp.," stated Stephen Wallace, President and CEO of Searchlight. "As a project generation exploration company, this is another successful agreement for Searchlight," stated Alf Stewart, Chairman of Searchlight, "the Company continues to seek deals on its other projects in the Flin Flon Mining Camp." To view an enhanced version of this graphic, please visit: Searchlight Resources Flin Flon Exploration Targets Searchlight is actively exploring two other gold properties in the Flin Flon district: Bootleg Lake: Advanced Exploration, Multiple Drill-ready Targets Brownfields project with three past-producing, high-grade gold mines Includes Rio Mine with 1,500 m of modern, trackless underground workings viable for reopening for exploration and future production 60-80 historic drill holes, plus 6 drill holes by Searchlight Other gold and base metal potential on claims 18 claims (49.4 sq km), with key claims in good standing until 2040 Robinson Creek: Advanced Exploration, Drill-ready Targets Exploration Target of 77,000 to 154,000 ounces gold 70 historic diamond drill holes 18 km from Creighton, Saskatchewan and Flin Flon, Manitoba 10 km from Laurel Lake Gold deposit, owned by SSR Mining 7 claims (2.8 sq km) About Canadian Gold Corp. Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past-producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec, adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) holds a 5.7% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp Inc., and Chairman and CEO of McEwen Mining, holds a 32.9% interest in Canadian Gold. About Searchlight Resources Inc. Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. Exploration focus is on battery minerals and gold throughout the province, concentrating on projects with nearby infrastructure. Qualified Person Stephen Wallace, is Searchlight's Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. On behalf of the Board of Directors, "Stephen Wallace" Stephen Wallace, President, CEO and Director Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
Yahoo
28-05-2025
- Business
- Yahoo
Canadian Gold Corp. Provides an Update on the Forest Fire Situation Near the Tartan Mine
Flin Flon, Manitoba--(Newsfile Corp. - May 28, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") has temporarily suspended drilling operations at its Tartan Mine property near Flin Flon, Manitoba, due to a forest fire in the nearby vicinity. "We have withdrawn our staff and continue to monitor our facilities remotely in accordance with local directives. Our team is in constant communication with local and provincial authorities to coordinate all efforts during this difficult time. All personnel are safe, and the Tartan facilities are secure. While all activities at the site are currently suspended, we remain hopeful that the nearby forest fire activity will not have any material impact on our Phase 4 drilling program. All the firefighters, EMS workers, RCMP, and the great people of Flin Flon remain in our thoughts during this difficult time." - Michael Swistun, CFA, President & CEO Canadian Gold Corp. will update the market in the event of any material change arising in relation to the forest fire situation. For Further Information, Please Contact: Michael Swistun, CFA President & CEOCanadian Gold Corp.(204) 232-1373info@ Social Media Accounts: X (Twitter) Instagram Facebook LinkedIn About Canadian Gold Corp. Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) holds a 5.7% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Mining, holds a 32.9% interest in Canadian Gold. CAUTION REGARDING FORWARD-LOOKING INFORMATION This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements including but not limited to the receipt of regulatory approval for the transactions contemplated by the Option Agreement and the exercise of the Option Agreement by the Company. 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
