Latest news with #ChitaValleyProject
Cision Canada
30-07-2025
- Business
- Cision Canada
Scout Drilling Results Extend Polymetallic Mineralization Footprints at Chita; Exploration Identifies Compelling Regional Targets
TORONTO, July 29, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) ("Minsud" or the "Company"), is pleased to announce the significant results received from its on-going drilling campaign at the Chita Valley Project in San Juan, Argentina. The active drilling program focuses on testing the extents of the NI43-101-compliant resource at the Chinchillones polymetallic (Cu-Au-Mo-Zn-Pb-Ag) deposit and the supergene-enriched PSU (Porphyry Chita Sur) porphyry Cu-Mo-Au deposit. These two deposits are open-pittable and are just two kilometers apart. The active scout drilling program is also testing other compelling regional targets generated from ground-based exploration surveys. The robust exploration program employs detailed mapping in conjunction with rock sampling, Pole Dipole IP surveys and grid soil geochemistry. Summary of the drilling results is shown in Table 1 below and drillhole locations are shown in Maps 1 and 2. KEY DRILL RESULTS HIGHLIGHTS: At Chinchillones surrounds, the drillholes completed include CHDH25-150, CHDH25-151, CHDH25-152 which tested and confirmed the southwest continuity of the NE-trending, 2.0km-long and 0.9km-wide polymetallic zone. This zone hosts the High Zinc resource base portion of the Chinchillones polymetallic deposit (see 43-101 Technical report Mineral Resource Estimate for Chita valley Project dated January 17, 2025). The High Zinc polymetallic resource, forming an important component to the overall Chinchillones deposit, has been reported to contain at both indicated and inferred categories of 41 Mt (0.72% Zn, 17.6 g/t Ag, 0.13 g/t Au and 0.18% Cu) and 79 Mt (0.79% Zn, 16.5 g/t Ag, 0.10 g/t Au and 0.21% Cu), respectively. At CHDH25-151 (150°azimuth and 65°dip; total depth of 500.8m), mineralization from 152m to 320m is dominantly hosted in silicified sandstones (quartzites from Agua Negra Formation) and dacitic breccias. The sulfides, consisting of pyrite, sphalerite, tennantite occur as disseminations and in quartz veins. Mineralization is accompanied by pervasive kaolinite-illite-fine-grained clays. At CHDH25-152 (135°azimuth and 60°dip;total depth of 600m), the discrete polymetallic veins yielded high-grade values of up to 756 g/t Ag, 1.08 g/t Au, 4.5% Zn, and 2.75% Pb (2m-interval sample from 70m), implying increasing silver endowment to the southwest, which is still largely untested by drilling and outside of the open-pit limit design. Host rocks include dacitic lithologies with associated hydrothermal breccias intruded into silicified quartzites. Drillholes CHDH25-153 and CHDH25-154 were drilled 240m NE of the last fence of drillholes included in the maiden Chinchillones resource estimate. Drillhole CHDH25-153 (150°azimuth and 65°dip; total depth of 492.6m) intersected mainly andesitic rocks and early diorite porphyry cut by intermediate sulfidation quartz-rhodochrosite veins with pyrite-sphalerite-chalcopyrite-galena-tennantite. Increased vein densities were observed in the intervals 180-210m and 300-330m. Drillhole CHDH25-154 (320°azimuth and 60°dip; total depth of 510m) intersected lithologies similar to CHDH25-153 dominated by fine-grained andesitic rocks. Mineralization occurs as pervasive disseminations, as cavity-infill, as veins and linear vein breccias and along fractures. Veins contain rhodochrosite, sphalerite, galena, tennantite and chalcopyrite. Vein density increased at 100-120m, and 200-220m. Advanced argillic alteration consisting of secondary silica-pyrophyllite-kaolinite and pyrite generally accompanies the mineralization. Thus, the polymetallic zone is demonstrably open to the SW and NE directions. At PSU (Chita Porphyry South) Surrounds, drillhole PSUDH25-155 is the first of the planned drillholes focused on expanding and in-filling the supergene-enriched, open-pittable PSU historical resource base (indicated resource category of 33Mt @0.43% Cu, 180 ppm Mo, 0.07 g/t Au and 2.28 g/t Ag and inferred category of 8.6Mt@ 0.4% Cu, 160 ppm Mo, 0.07 g/t Au and 1.73 g/t Ag (from NI 43-101 Technical report and Updated Mineral Resource Estimate on the Chita Valley Project, San Juan, 2018). Drillhole PSUDH25-155 (315° azimuth and 60° dip; total depth of 321m), which is 120m outside of the projected 0.25% Cu isosurface derived from the historical resource estimation, intersected oxidised and argillic-altered dioritic porphyry (kaolinite-clays-illite) with abundant quartz-sulfides veining. Pyrite and chalcopyrite are replaced by chalcocite-digenite below the oxide zone at 53m. Quartz-molybdenite-chalcopyrite-pyrite veinlets become common from 124m. Thus, the 32m @ 0.34% Cu and 58 ppm Mo within a wider interval of 120m @ 0.21% Cu and 77 ppm Mo from 22m demonstrated that the resource base of the supergene-enriched, open-pittable PSU deposit has the potential to be substantially expanded and upgraded. Drillhole PSUDH25-156 (315°azimuth and 60°dip; total depth of 261m) intersected highly oxidised (jarosite-goethite) diorite porphyry to 53m and at depth, transitional to a sulfidic zone hosting porphyry-related veinlets (quartz-pyrite-chalcopyrite-molybdenite; B- and D-type veins) with the sulfides replaced by chalcocite and digenite. At 142m, the dioritic porphyry body is traversed by quartz stockworked zone of white mica-quartz-pyrite-chalcopyrite-molybdenite altered dacitic intrusion. Drillhole PSUDH-157 (315°azimuth and60°dip; total depth of 252m) intersected dioritic porphyry from 3m characterised by a mixed zone of iron oxides (jarosite-goethite-hematite) with preserved sulfidic veins hosting pyrite-chalcopyrite and molybdenite. From 45m, the chalcocite-digenite replacement of sulfides become apparent. At depth from 98m through to 252m (end of hole) the lithologies become multi-phased with dacitic, andesitic and dioritic intrusion phases hosting copper sulfides. Drillhole PSUDH-158 (135°azimuth and 60°dip; total depth of 314.2m) confirmed the extension of the higher-grade molybdenum zone (>200 ppm Mo) hosted in diorite porphyry and affected by supergene chalcocite-digenite in the mixed oxide-sulfide zone commencing from 25m through to 84m below surface. Thence through to the end of the drillhole, the dioritic host rocks exhibit phyllic (white mica-quartz-pyrite) overprint over potassic (secondary biotite-K-feldspar-magnetite) hosting quartz-molybdenite-chalcopyrite stockworked quartz veining (B-type porphyry-related veinlets). The total iron mapped from Landsat 8 imageries (see Map 2 below) demonstrates coherent available total iron over PSU and extends farther south for at least 1.7 kilometres along strike. This significant total iron footprint is also coincident with structurally perturbed area, along the hanging wall to the NS-trending thrust fault, providing ideal environment for the development and transport of acidic fluids required for the dissolution and enrichment (vertical or lateral transport) of copper-bearing sulfides in the weathered profile. Interestingly, the high total Fe also affected the older Permian granitoids immediately to the east. Table 1: Scout Diamond Drilling Program – Summary of Significant Results (1) The true thicknesses are unknown REGIONAL TARGETING HIGHLIGHTS Extensive geological, geophysical and geochemical synthesis confirms highly prospective >>6km-long, >2.0km-wide, ENE- to NE-trending polymetallic Miocene-aged corridor (Map 3) The detailed mapping at the Placetas area confirmed the presence of coeval dioritic and dacitic lithologies, similar to the host rocks hosting the Chinchillones polymetallic deposit. At Chinchillones, the high sulfidation mineralization, polymetallic intermediate sulfidation veins, linear breccias and porphyry-related B-, A-, C-type veins are apparently controlled by NE-, EW-trending faults occurring in a NE-trending, 2.0km-long and 0.9km-wide elongated polymetallic zone. These controlling structures, considered as potentially fluid and magma pathways, are also present at the Placetas area. At Placetas Central, compelling drill-ready targets (Map 4) The results from the grid soil survey (206 samples;100m interval grid) highlights coherent coincident, at least 1km-long, 0.5km-wide Cu-Mo-Au anomalies. Importantly these multi-element anomalies coincide with an ENE-trending faulted zone separating the dioritic rocks in the NW with the dacitic rocks in the SE. This setting is highly reminiscent to the controls at the Chinchillones polymetallic deposit There is a significant fault-controlled EW-trending magnetite-destructive elongated "doughnut" coincident with a mapped dioritic porphyry intrusion, emplaced amongst an older, bigger dioritic body. This mapped younger body is interpreted to represent a protruded dyke coming off a younger, productive intrusion at depth. At PSU Surrounds, valid targets to test continuity of Cu-Mo-Au mineralization and the presence of other intrusion centres (Maps 5 and 6) The compiled surface geochemistry, magnetic-depleted zones and mapping around the PSU area indicate the southern area to the PSU requires drill-testing. The under-tested southern continuation of the supergene-enriched PSU (Porphyry Chita Sur) Cu-Mo-Au deposit measures 1.7km x 1.4km which can host substantial deposit/s. The total iron mapped from Landsat 8 imageries demonstrates coherent available total iron over the PSU surrounds and extends farther south for more than one kilometre. NEXT STEPS: Completion of the planned 5400m PSU expansion drilling A planned US$7.3 million budget from July 2025-June 2026 will include these exploratory activities: an MT survey over 13,5kms x 8.0kms area encompassing all the principal target areas testing of the compelling drill-worthy targets at Placetas Central and PSU south prospect areas expanded soil and rock geochemical survey, in conjunction with detailed mapping of the Chinchillones-Placetas corridor Identification of targets based on the thorough integration of the results from geology-geochemical and geophysical surveys COMMENT Mr Ramiro Massa, Director at Minsud Resources, commented: "These latest exploration results further validate the scale and strategic significance of the Chinchillones–Placetas corridor. With multiple mineralized centres and substantial untested extensions, we believe this emerging district holds significant potential for the delineation of multiple mineralized systems. Together with South32, we remain fully committed to systematically advancing exploration and unlocking long-term value from this high-quality asset located in one of Argentina's most mining-friendly jurisdictions". Quality Assurance/Quality Control All core samples were cut and prepared on-site at the project area. The sample lengths were usually 2 m, except in areas with low recovery (loss areas, faults, etc.) and breaks from discrete principal geological features (e.g., vein, vein breccia). Drill core sizes of the drillholes included in this report: CHDH25-150 (HQ to 490.8m;NQ to 675m); CHDH25-151 (all HQ to 500m); CHDH25-152 (all HQ to 501m; NQ to 600m); CHDH25-153 (all HQ to 492.6m); CHDH25-154 (all HQ to 510m); PSUDH25-155 (all HQ to 321m); PSUDH25-156 (all HQ to 261m); PSUDH25-157 (all HQ to 252m); and PSUDH25-158 (all HQ to 314.2m). Cutting was carried out by trained MSA personnel. Cores were split using the industry-standard Corewise automatic circular diamond blade rotary saw in the middle of the core, around 1 cm away from the core orientation mark. Half-core and duplicate samples, including all fragments, were placed in labelled plastic bags. Each had the sample number and was sealed using plastic security straps. All core samples were submitted to the ALS Patagonia S.A. in Mendoza as the primary laboratory for sample preparation. This ISO 9001 accredited facility, with the prepared pulp samples sent to ALS Perú S.A. in Lima, Peru. The ALS Perú S.A. laboratory is accredited under ISO 9001:2008 and ISO 17025, ensuring compliance with international standards. The analytical protocols are outlined as follows: ME-MS61 and ME-MS61m: Multitrace analysis of 48 elements with a 4-acid digestion. A prepared sample (0.25 g) is digested with perchloric, nitric, and hydrofluoric acids to dryness. The residue is taken up in a volume of 12.5 mL of 10 % hydrochloric acid. The resulting solution is analyzed by ICP-AES. Results are corrected for spectral interelement interference. ME-OG62: For samples over-limit, analysis is with four acid digestion using conventional ICPAES analysis for Ag, As, Cu, Mo, S, Pb, and Zn. Fire Assay Procedure Au-AA24 (50g): Gold is analyzed using a conventional fire assay fusion method with Atomic Absorption Spectroscopy (AAS). Minsud followed industry standard procedures for the work with a quality assurance/quality control (QA/QC) program. Field duplicates, standards and blanks were included with all sample shipments to the principal laboratory. Minsud detected no significant QA/QC issues during review of the data. Qualified Person (QP) Statement The scientific and technical information in this press release has been compiled, reviewed and approved by Dr Renato Bobis, MAusIMM CP (Geo), part-time VP-Exploration of the Company, and is a qualified person as defined by Canadian National Instrument Bobis has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person. About the Chita Valley Project, San Juan Province The Chita Valley Project is a large exploration stage porphyry system with widespread porphyry style Cu-Mo-Au and polymetallic Ag-Pb-Zn mineralization hosted in multi-phased intrusions and country rocks with affiliated hydrothermal breccias. San Juan Province of Argentina has a robust mining sector and recognizes the important economic benefits of responsible development of its substantial mineral resource endowment. The Chita Valley Project is owned and managed by MSA, of which Minsud indirectly holds a 49.9% interest. The other 50.1% interest in MSA is owned by a wholly owned subsidiary of South32 Limited ("South32"). Minsud and South32 entered into a shareholders' agreement to govern the management and operation of MSA which will include further exploration. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". About South32 Limited South32 Limited ("South32") is a globally diversified mining and metals company. The company's purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come, and to be trusted by its owners and partners to realise the potential of their resources. South32 produces minerals and metals critical to the world's energy transition from operations across the Americas, Australia and Southern Africa and is discovering and responsibly developing its next generation of mines. South32 aspires to leave a positive legacy and build meaningful relationships with partners and communities to create brighter futures together. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, results of exploration, anticipated financial results, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Corporation may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; and the factors identified under "Risk Factors" in the Company's Filing Statement dated April 27, 2011. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. 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. SOURCE Minsud Resources Corp.
Cision Canada
03-07-2025
- Business
- Cision Canada
Minsud Announces Closing of Over-Subscribed Private Placement
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ TSX-V: MSR TORONTO, July 2, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) (" Minsud" or the " Company") is pleased to announce that it has closed its previously announced (see news release dated June 4, 2025) non-brokered private placement offering of common shares of the Company (" Common Shares") for total gross proceeds of $848,706, issuing 1,146,900 Common Shares at a price of $0.74 per Common Share (the " Private Placement"). The net proceeds will be used to continue exploring the Chita Valley Project as well as working capital and corporate overhead requirements. No commission or finder's fee was paid in connection with the Private Placement. The Common Shares will be subject to a hold period of four months and a day from their date of issuance. The Private Placement remains subject to final approval from the TSX Venture Exchange (" TSXV"). Under the Private Placement, insiders of the Company subscribed for 566,000 Common Shares. Each subscription under the Private Placement by an insider is considered to be a "related party transaction" of the Company for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101") and Section 5.9 – Protection of Minority Securityholders in Special Transactions of the Corporate Finance Manual of the TSXV. In completing the Private Placement, the Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Sections 5.5(a) and (b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization and no securities of the Company are listed or quoted for trading on prescribed stock exchanges or stock markets. Additionally, the Company is exempt from minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on, inter alia, Section 5.7(a) as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the expected closing date of the Private Placement as the details of the insider's participation in the Private Placement had not been finalized at the time. The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. Early Warning Reporting Compañía de Tierras Sud Argentino S.A. Compañía de Tierras Sud Argentino S.A. (" CTSA", address: 684 Esmeralda Street, 14th floor, Buenos Aires, Republic of Argentina), an insider and control person of the Company, acquired 351,000 Common Shares under the Private Placement. The 351,000 Common Shares acquired by CTSA represent 0.21% of the 166,095,415 Common Shares following the closing of the Private Placement. Prior to the Private Placement, CTSA held 44,773,743 Common Shares, representing 27.14% of the outstanding Common Shares, based upon 164,948,515 Common Shares being outstanding immediately prior to the closing of the Private Placement. CTSA now owns 45,124,743 Common Shares, representing 27.17% of the outstanding Common Shares on an undiluted basis, based upon 166,095,415 being outstanding following the closing of the Private Placement. CTSA does not own any convertible securities of the Company. CTSA acquired and intends to hold the securities for investment purposes. CTSA, depending on market and other conditions, may increase its beneficial ownership, control or direction over the Common Shares or other securities of Minsud through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise, in accordance with applicable securities regulations. Depending on market or other conditions, CTSA may sell all or a portion of the Common Shares. An early warning report with additional information with respect to CTSA will be filed on SEDAR+ at copies of which may be obtained by contacting the persons listed below. Carlos Adamo Mr. Carlos Adamo (address: Carlos Pellegrini 1427, 3rd floor, Ciudad de Buenos Aires, Republic of Argentina) an insider of the Company, acquired 165,000 Common Shares under the Private Placement. The 165,000 Common Shares acquired by Mr. Adamo represent 0.09% of the 166,095,415 Common Shares outstanding following the closing of the Private Placement. Prior to the Private Placement, Mr. Adamo held 18,993,712 Common Shares, and stock options (the " Options") exercisable to acquire 1,575,000 Common Shares, representing 11.51% of the outstanding Common Shares on an undiluted basis and 12.35% on a partially diluted basis (assuming the exercise of the Options), based upon 164,948,515 Common Shares being outstanding immediately prior to the closing of the Private Placement. Mr. Adamo now owns 19,158,712 Common Shares, and stock options (the " Options") exercisable to acquire 1,575,000 Common Shares, representing 11.53% of the outstanding Common Shares on an undiluted basis and 12.37% on a partially diluted basis (assuming the exercise of the Options), based upon 166,095,415 Common Shares being outstanding following the closing of the Private Placement. Mr. Adamo acquired and intends to hold the securities for investment purposes. Mr. Adamo depending on market and other conditions, may increase its beneficial ownership, control or direction over the Common Shares or other securities of Minsud through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise, in accordance with applicable securities regulations. Depending on market or other conditions, Mr. Adamo may sell all or a portion of the Common Shares. An early warning report with additional information with respect to Mr. Adamo will be filed on SEDAR+ at copies of which may be obtained by contacting the persons listed below. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, strategic plans, spending commitments, future operations, future work programs, and statements regarding the Private Placement, including the use of proceeds raised thereunder and TSXV approval. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Company may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; fluctuations in commodity prices and the factors identified in the Company's continuous disclosure documents filed on SEDAR+. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. 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.
Yahoo
03-07-2025
- Business
- Yahoo
Minsud Announces Closing of Over-Subscribed Private Placement
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ TSX-V: MSR TORONTO, July 2, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) ("Minsud" or the "Company") is pleased to announce that it has closed its previously announced (see news release dated June 4, 2025) non-brokered private placement offering of common shares of the Company ("Common Shares") for total gross proceeds of $848,706, issuing 1,146,900 Common Shares at a price of $0.74 per Common Share (the "Private Placement"). The net proceeds will be used to continue exploring the Chita Valley Project as well as working capital and corporate overhead requirements. No commission or finder's fee was paid in connection with the Private Placement. The Common Shares will be subject to a hold period of four months and a day from their date of issuance. The Private Placement remains subject to final approval from the TSX Venture Exchange ("TSXV"). Under the Private Placement, insiders of the Company subscribed for 566,000 Common Shares. Each subscription under the Private Placement by an insider is considered to be a "related party transaction" of the Company for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Section 5.9 – Protection of Minority Securityholders in Special Transactions of the Corporate Finance Manual of the TSXV. In completing the Private Placement, the Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Sections 5.5(a) and (b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization and no securities of the Company are listed or quoted for trading on prescribed stock exchanges or stock markets. Additionally, the Company is exempt from minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on, inter alia, Section 5.7(a) as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the expected closing date of the Private Placement as the details of the insider's participation in the Private Placement had not been finalized at the time. The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. Early Warning Reporting Compañía de Tierras Sud Argentino S.A. Compañía de Tierras Sud Argentino S.A. ("CTSA", address: 684 Esmeralda Street, 14th floor, Buenos Aires, Republic of Argentina), an insider and control person of the Company, acquired 351,000 Common Shares under the Private Placement. The 351,000 Common Shares acquired by CTSA represent 0.21% of the 166,095,415 Common Shares following the closing of the Private Placement. Prior to the Private Placement, CTSA held 44,773,743 Common Shares, representing 27.14% of the outstanding Common Shares, based upon 164,948,515 Common Shares being outstanding immediately prior to the closing of the Private Placement. CTSA now owns 45,124,743 Common Shares, representing 27.17% of the outstanding Common Shares on an undiluted basis, based upon 166,095,415 being outstanding following the closing of the Private Placement. CTSA does not own any convertible securities of the Company. CTSA acquired and intends to hold the securities for investment purposes. CTSA, depending on market and other conditions, may increase its beneficial ownership, control or direction over the Common Shares or other securities of Minsud through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise, in accordance with applicable securities regulations. Depending on market or other conditions, CTSA may sell all or a portion of the Common Shares. An early warning report with additional information with respect to CTSA will be filed on SEDAR+ at copies of which may be obtained by contacting the persons listed below. Carlos Adamo Mr. Carlos Adamo (address: Carlos Pellegrini 1427, 3rd floor, Ciudad de Buenos Aires, Republic of Argentina) an insider of the Company, acquired 165,000 Common Shares under the Private Placement. The 165,000 Common Shares acquired by Mr. Adamo represent 0.09% of the 166,095,415 Common Shares outstanding following the closing of the Private Placement. Prior to the Private Placement, Mr. Adamo held 18,993,712 Common Shares, and stock options (the "Options") exercisable to acquire 1,575,000 Common Shares, representing 11.51% of the outstanding Common Shares on an undiluted basis and 12.35% on a partially diluted basis (assuming the exercise of the Options), based upon 164,948,515 Common Shares being outstanding immediately prior to the closing of the Private Placement. Mr. Adamo now owns 19,158,712 Common Shares, and stock options (the "Options") exercisable to acquire 1,575,000 Common Shares, representing 11.53% of the outstanding Common Shares on an undiluted basis and 12.37% on a partially diluted basis (assuming the exercise of the Options), based upon 166,095,415 Common Shares being outstanding following the closing of the Private Placement. Mr. Adamo acquired and intends to hold the securities for investment purposes. Mr. Adamo depending on market and other conditions, may increase its beneficial ownership, control or direction over the Common Shares or other securities of Minsud through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise, in accordance with applicable securities regulations. Depending on market or other conditions, Mr. Adamo may sell all or a portion of the Common Shares. An early warning report with additional information with respect to Mr. Adamo will be filed on SEDAR+ at copies of which may be obtained by contacting the persons listed below. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, strategic plans, spending commitments, future operations, future work programs, and statements regarding the Private Placement, including the use of proceeds raised thereunder and TSXV approval. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Company may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; fluctuations in commodity prices and the factors identified in the Company's continuous disclosure documents filed on SEDAR+. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. 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. SOURCE Minsud Resources Corp. View original content:
Cision Canada
04-06-2025
- Business
- Cision Canada
Minsud Announces Private Placement; Appoints New VP Exploration
TSX-V: MSR TORONTO, June 4, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) (" Minsud" or the " Company") is pleased to announce the appointment of Dr. Renato Bobis as part-time Vice President, Exploration, following the resignation of María del Carmen Muñoz. The Company expresses its sincere gratitude to Ms. Muñoz for her dedication, leadership, and technical contributions during her tenure as Vice President, Exploration. Her work has been instrumental in advancing Minsud's exploration portfolio, and we wish her continued success in her future endeavors. Dr. Renato Bobis is an accomplished economic geologist with over 40 years of international expertise in mineral exploration and development in both South America and Asia-Pacific regions. Most recently, he was the senior manager generative and resource evaluation with South32 and formerly with BHP, Sinogold, Golden China, Newcrest, Arc Exploration, Placer Dome, Laverton Gold, Yamana and Renison Goldfields. Dr. Bobis focuses on finding orebodies in a spectrum of environments (particularly porphyry-epithermal-skarn-breccia-hosted deposits) from country-wide to camp-scale exploration and development. He has led several base and precious metals discoveries. Dr. Bobis is a Competent/Qualified Person (CP/QP) for reporting purposes under both the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Australian Joint Ore Reserve Committee standards. Ramiro Massa, Director of Minsud, stated: " Dr. Bobis played a pivotal role in identifying and advancing the Chinchillones porphyry Cu-Au-Mo-Zn-Pb deposit in the Chita Valley Project. He also led the design and implementation of the successful scout and resource drilling programs, establishing a resource base exceeding 760 million tonnes of potentially mineable polymetallic epithermal-porphyry copper mineralization. We are pleased to welcome someone of Dr. Bobis's caliber to the team. His global experience and deep technical expertise will be invaluable as we advance our Chita Valley Project." Minsud is also pleased to announce that it intends to complete, subject to the acceptance of the TSX Venture Exchange (the " TSXV"), a non-brokered private placement of common shares of the Company (" Common Shares") for gross proceeds of up to $830,000 (the " Private Placement") at a price of $0.74 per Common Share. The net proceeds will be used to continue exploring the Chita Valley Project as well as working capital and corporate overhead requirements. No commission or finder's fee will be paid in connection with the Private Placement. The Common Shares will be subject to a hold period of four months and a day from their date of issuance. A portion of the Common Shares issued under the Private Placement are expected to be subscribed for by insiders of the Company. Any such subscription will be considered to be a related party transaction within the meaning of TSX-V Policy 5.9 which incorporates Multilateral Instrument 61-101 (" MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation. The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, strategic plans, spending commitments, future operations, future work programs, and statements regarding the Private Placement, including the completion and terms thereof, use of proceeds, and TSXV approval. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Company may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; fluctuations in commodity prices and the factors identified in the Company's continuous disclosure documents filed on SEDAR+. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. 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. SOURCE Minsud Resources Corp.
Yahoo
04-06-2025
- Business
- Yahoo
Minsud Announces Private Placement; Appoints New VP Exploration
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ TSX-V: MSR TORONTO, June 4, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) ("Minsud" or the "Company") is pleased to announce the appointment of Dr. Renato Bobis as part-time Vice President, Exploration, following the resignation of María del Carmen Muñoz. The Company expresses its sincere gratitude to Ms. Muñoz for her dedication, leadership, and technical contributions during her tenure as Vice President, Exploration. Her work has been instrumental in advancing Minsud's exploration portfolio, and we wish her continued success in her future endeavors. Dr. Renato Bobis is an accomplished economic geologist with over 40 years of international expertise in mineral exploration and development in both South America and Asia-Pacific regions. Most recently, he was the senior manager generative and resource evaluation with South32 and formerly with BHP, Sinogold, Golden China, Newcrest, Arc Exploration, Placer Dome, Laverton Gold, Yamana and Renison Goldfields. Dr. Bobis focuses on finding orebodies in a spectrum of environments (particularly porphyry-epithermal-skarn-breccia-hosted deposits) from country-wide to camp-scale exploration and development. He has led several base and precious metals discoveries. Dr. Bobis is a Competent/Qualified Person (CP/QP) for reporting purposes under both the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Australian Joint Ore Reserve Committee standards. Ramiro Massa, Director of Minsud, stated: "Dr. Bobis played a pivotal role in identifying and advancing the Chinchillones porphyry Cu-Au-Mo-Zn-Pb deposit in the Chita Valley Project. He also led the design and implementation of the successful scout and resource drilling programs, establishing a resource base exceeding 760 million tonnes of potentially mineable polymetallic epithermal-porphyry copper mineralization. We are pleased to welcome someone of Dr. Bobis's caliber to the team. His global experience and deep technical expertise will be invaluable as we advance our Chita Valley Project." Private Placement Minsud is also pleased to announce that it intends to complete, subject to the acceptance of the TSX Venture Exchange (the "TSXV"), a non-brokered private placement of common shares of the Company ("Common Shares") for gross proceeds of up to $830,000 (the "Private Placement") at a price of $0.74 per Common Share. The net proceeds will be used to continue exploring the Chita Valley Project as well as working capital and corporate overhead requirements. No commission or finder's fee will be paid in connection with the Private Placement. The Common Shares will be subject to a hold period of four months and a day from their date of issuance. A portion of the Common Shares issued under the Private Placement are expected to be subscribed for by insiders of the Company. Any such subscription will be considered to be a related party transaction within the meaning of TSX-V Policy 5.9 which incorporates Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation. The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, strategic plans, spending commitments, future operations, future work programs, and statements regarding the Private Placement, including the completion and terms thereof, use of proceeds, and TSXV approval. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Company may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; fluctuations in commodity prices and the factors identified in the Company's continuous disclosure documents filed on SEDAR+. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. 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. SOURCE Minsud Resources Corp. View original content: Sign in to access your portfolio
