Latest news with #JoeOvsenek
Cision Canada
16-06-2025
- Business
- Cision Canada
P2 Gold Announces Positive Interim Metallurgical Results
VANCOUVER, BC, June 16, 2025 /CNW/ - P2 Gold Inc. ("P2" or the "Company") (TSXV: PGLD) (OTCQB: PGLDF) reports positive interim test results from the metallurgical program underway for its gold-copper Gabbs Project located on the Walker-Lane Trend in Nevada. The Company retained Kappes, Cassiday & Associates ("KCA") in Reno, Nevada to carry out the Phase Three Metallurgical Program, which is focused on increasing copper and gold recoveries of the oxide mineralization and providing a marketing sample of the copper-silver SART (sulphidization, acidification, recycling and thickening) concentrate. After 58 days of leaching, the metal recoveries of the Phase 3 Metallurgical Program are far exceeding the recoveries from the Phase Two Metallurgical Program and are exceeding the recoveries used in the May 2024 Preliminary Economic Assessment on the Gabbs Project. See Table 1 below for a comparison of the Phase Three results at 58 days to the Phase Two results at 58 days and the recoveries used in the 2024 Preliminary Economic Assessment. Table 1: Comparison of Interim Oxide Samples Column Test Leach Results at Day 58 (1)(2) (1) Samples were submitted for preparation and multi-element analysis by KCA. All samples were analyzed using multi-acid digestion with ICP finish for silver and copper and fire assay with AA finish for gold. (2) Interim recoveries based are on standard assaying protocols and will be subject to change at the end of the program when tail assays are available and incorporated into the calculated head assays. (3) See P2 Gold news release dated May 22, 2024, and the Gabbs Technical Report dated May 17, 2024 available under the Company's profile on SEDAR+ at and on the Company's website at "The Phase Three Metallurgical Program was established with a target of improving the leach kinetics and overall extraction by adding cyanide during agglomeration and by increasing the cyanide concentration in the leach solutions," commented Joe Ovsenek, President & CEO of P2. "Interim test results indicate that all metals are leaching significantly faster than the prior tests, with metal recoveries exceeding those used in our May 2024 PEA and still increasing." The Phase Three Metallurgical Program is expected to continue for another 30 to 60 days to achieve maximum recoveries. Final metallurgical recoveries will be announced upon completion of the program. Prior Metallurgical Programs The Phase One Metallurgical Program included testing for the potential recoveries of copper and gold from oxide mineralization by sequential leach using heap leach or conventional milling. The test work showed that gold and copper can be recovered by both process options, with extractions averaging 97.2% for gold and 95.2% for copper when the sample is ground to 100 microns. (See P2's news release of August 4, 2021.) The Phase Two metallurgical program, also conducted by KCA, was focused on determining the preferred extraction process for the Gabbs mineralization. Based on the results of that program, KCA proposed that the oxide material be heap leached and gold recovered as a salable doré and cyanide soluble copper produced as a salable copper sulphide concentrate. Column test leach results ranged up to 89% for gold and 62% for copper. The average extraction for the three column tests was 82% for gold and 50% for copper. (See P2's news release of May 13, 2022.) Qualified Person Ken McNaughton, Chief Exploration Officer, P2 Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Gabbs Project. Mr. McNaughton has reviewed, verified, and approved the scientific and technical information in this news release. About P2 Gold Inc. P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical testing is underway, and a water permit is expected in the second quarter of this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready. Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, information with respect to the Company's expectations, strategies and plans for its Gabbs Project including the Company's planned expenditures and exploration activities. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, the estimated internal rate of return and net present value at a 5% discount rate of the Gabbs Project, as well as the other assumptions disclosed in this news release. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information, including without limitation, the estimates and assumptions contained in the Gabbs Technical Report dated May 17, 2024, and risks associated with mineral exploration, including the risk that actual results and timing of exploration and development will be different from those expected by management. See "Risk Factors" in the Company's annual information form for the year ended December 31, 2024, dated March 21, 2025 filed on SEDAR+ at for a discussion of these risks. The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof. SOURCE P2 Gold Inc.
Yahoo
09-06-2025
- Business
- Yahoo
Tudor Gold Announces Binding Letter of Intent to Acquire American Creek
Tudor expects to increase interest in the Treaty Creek Project to 80% Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) ("Tudor") and American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("American Creek") are pleased to announce that they have entered into a binding letter of intent (the "LOI") on June 6, 2025 pursuant to which Tudor will acquire all of the issued and outstanding shares (the "American Creek Shares") of American Creek by way of a plan of arrangement (the "Transaction"). Currently, American Creek holds a 20% carried interest, and Tudor a 60% interest, in the Treaty Creek Project located in northwest British Columbia. On completion of the Transaction, Tudor will hold an 80% interest in the Treaty Creek Project. The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. Under the terms of the Transaction, American Creek shareholders will receive 0.238 shares ("Tudor Shares") in the capital of Tudor for each American Creek Share (the "Exchange Ratio"). This implies premiums of 40% and 37% offered to American Creek shareholders based on the spot and 5-day VWAP of both companies as of market close on June 6, 2025. Following completion of the transaction, existing American Creek shareholders will own approximately 30% of the combined company resulting from the Transaction. The LOI provides for the parties to enter into a definitive arrangement agreement (the "Arrangement Agreement") setting out the final terms and conditions of the Transaction. Upon execution of the Arrangement Agreement, Tudor and American Creek will issue a subsequent news release containing the details of the Arrangement Agreement and any additional terms of the Transaction. Joe Ovsenek, President and CEO of Tudor Gold, commented: "Our acquisition of American Creek cements our interest in the Treaty Creek Project, which hosts one of the largest gold discoveries in Canada with excellent potential for expansion and additional gold-copper discoveries, at a reasonable per ounce of gold equivalent cost. With an increased ownership of the Treaty Creek Project, Tudor is better positioned to attract a wider range of potential investors to the developing story of this high-quality gold-copper asset. We welcome the American Creek shareholders to Tudor as we continue to strengthen the company to build on our exploration success and advance Treaty Creek on the path toward production." Darren Blaney, President and CEO of American Creek, commented: "We are very pleased to enter into this Letter of Intent with Tudor. We believe that this amalgamation transaction unlocks significant advantages for our shareholders that have been part of the Treaty Creek project for many years. The most notable advantage for American Creek shareholders is that they will receive a 40% premium to the present market price of their shares and still retain the full future upside potential as the Treaty Creek project advances. We also believe that through the consolidation of our two companies that operating costs will be more efficient and Tudor will be better positioned to secure future exploration and development capital. The consolidated 80% ownership also makes it much more likely that Tudor is able to attract a potential strategic partner to assist in accelerating project development towards production, while at the same time increasing Tudor's attractiveness with respect to becoming a potential takeover target by a larger developer. This is the most logical next step in ensuring that the Treaty Creek project moves forward, and provides additional value to our loyal shareholders. The Treaty Creek project is a world class gold-copper project and we very much look forward to joining with and supporting Tudor in their focused drive to take this project to the next level." Summary of the Transaction The Transaction is expected to be completed by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia). Under the terms of the LOI, Tudor will acquire all of the issued and outstanding American Creek Shares in exchange for Tudor Shares on the basis of the Exchange Ratio. Outstanding options and warrants to purchase American Creek Shares will become exercisable to acquire Tudor Shares on the same terms and conditions, on the basis of the Exchange Ratio. Immediately prior to the closing of the Transaction, Tudor and American Creek are expected to have 261,853,823 shares and 475,018,299 shares, respectively, issued and outstanding. On completion of the Transaction, the combined company is expected to have 374,908,178 shares issued and outstanding. No finder's fees are payable by either party. Tudor has agreed with certain insiders of American Creek to settle up to $1,220,773 in severance payments in Tudor Shares at a per share price of $0.537, the 5-day VWAP as of market close on June 6, 2025. The settlement remains subject to approval of the TSX Venture Exchange ("Exchange"). The Transaction will require the approval of: (a) two-thirds of the votes cast by shareholders of American Creek, and, if required, (b) a simple majority of the votes cast by minority American Creek shareholders in accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), at a special meeting of American Creek shareholders expected to take place in the third quarter of 2025 (the "American Creek Meeting"). MI 61-101 provides that, in certain circumstances, where a "related party" (as defined in MI 61-101) of an issuer is entitled to receive a "collateral benefit" (as defined in MI 61-101) in connection with an arrangement transaction such as the Transaction, such transaction may be considered a "business combination" for the purposes of MI 61-101 and subject to minority shareholder approval requirements. However, there are certain exceptions to these requirements. An independent committee of American Creek's board of directors will conduct a "collateral benefit" assessment and applicable disclosure and any vote exclusions will be disclosed in the information circular for the American Creek Meeting. Completion of the Transaction will be subject to customary closing conditions and receipt of necessary court and regulatory approvals, including Exchange approval. Subject to receipt of all necessary approvals, the Transaction is expected to close by no later than 5:00 p.m. on September 30, 2025 (the "Effective Time"). A copy of the LOI will be filed on Tudor's and American Creek's SEDAR+ profiles at Prior to entering into the Arrangement Agreement, all directors and officers of American Creek will enter into customary support and voting agreements. The LOI provides for the parties to enter into the Arrangement Agreement setting out the final terms and conditions of the Transaction on or before July 14, 2025. The Arrangement Agreement will include provisions such as conditions to closing the Transaction, and representations and warranties and covenants customary for arrangement agreements. Further details with respect to the Transaction will be included in the Arrangement Agreement and in an information circular to be mailed to American Creek shareholders in connection with the American Creek Meeting. Once available, a copy of the Arrangement Agreement will be filed on each of Tudor's and American Creek's SEDAR+ profiles at and a copy of the information circular will be filed on American Creek's SEDAR+ profile at Fairness Opinion and Advisor Prior to entering into the Arrangement Agreement, the disinterested members of the board of directors of American Creek will engage a financial advisor to provide American Creek with an opinion stating that the consideration offered pursuant to the LOI and Arrangement Agreement is fair, from a financial point of view to the holders of American Creek Shares. INFOR Financial Inc. is acting as financial advisor to American Creek. About Tudor Gold Tudor Gold Corp. is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (in which Tudor has a 60% interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corporation's Brucejack property to the southeast. For further information on Tudor, please visit Tudor's website at or contact: Joseph Ovsenek President & CEO(778) 731-1055 Chris CurranVice President of Investor Relations and Corporate Development(604) 559 8092 Tudor Gold 789, 999 West Hastings StreetVancouver, BCV6C 2W2info@ filings:Tudor Gold Corp.) About American Creek and the Treaty Creek Project American Creek is a proud partner in the Treaty Creek Project, a joint venture with Tudor Gold Corp. located in BC's prolific "Golden Triangle". American Creek holds a fully carried 20% interest in the Treaty Creek Project until a production notice is given, meaning that no exploration or development costs are incurred by American Creek until such time as a production notice has been issued. American Creek shareholders have a unique opportunity to avoid the dilutive effects of exploration while maintaining their full 20% exposure to one of the world's most exciting mega deposits. The Company also holds the Austruck-Bonanza gold property located near Kamloops, BC. ON BEHALF OF AMERICAN CREEK RESOURCES LTD. "Darren Blaney" Darren Blaney, President & CEO For further information on American Creek please contact: Kelvin Burton at: Phone: (403)752-4040 or Email: info@ Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of 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", "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, statements regarding: the Transaction; the Arrangement Agreement; the receipt of necessary shareholder, court and regulatory approvals for the Transaction; the anticipated timeline for completing the Transaction; the terms and conditions pursuant to which the Transaction will be completed, if at all; the anticipated benefits of the Transaction including, but not limited to Tudor having an 80% interest in the Treaty Creek Project; the combined company; the future financial and operational performance of the combined company; the combined company's exploration and development programs; and potential future revenue and cost synergies resulting from the Transaction. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. In respect of the forward-looking statements concerning the Transaction, including the entering into of the Arrangement Agreement, and the anticipated timing for completion of the Transaction including, but not limited to the expectation of Tudor having an 80% interest in the Treaty Creek Project, Tudor and American Creek have relied on certain assumptions that they believe are reasonable at this time, including assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court, shareholder, stock exchange and other third party approvals and the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Transaction. This timeline may change for a number of reasons, including unforeseen delays in preparing meeting materials; inability to secure necessary regulatory, court, shareholder, stock exchange or other third-party approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Transaction. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Risks and uncertainties that may cause such differences include but are not limited to: the risk that the Transaction may not be completed on a timely basis, if at all; the conditions to the consummation of the Transaction may not be satisfied; the risk that the Transaction may involve unexpected costs, liabilities or delays; the possibility that legal proceedings may be instituted against the Tudor, American Creek and/or others relating to the Transaction and the outcome of such proceedings; the possible occurrence of an event, change or other circumstance that could result in termination of the Transaction; risks relating to the failure to obtain necessary shareholder and court approval; other risks inherent in the plant-based food industry. Failure to obtain the requisite approvals, or the failure of the parties to otherwise satisfy the conditions to or complete the Transaction, may result in the Transaction not being completed on the proposed terms, or at all. In addition, if the Transaction is not completed, the announcement of the Transaction and the dedication of substantial resources of Tudor and American Creek to the completion of the Transaction could have a material adverse impact on each of Tudor's and American Creek's share price, its current business relationships and on the current and future operations, financial condition, and prospects of each Tudor and American Creek. Tudor and American Creek expressly disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
09-06-2025
- Business
- Yahoo
Tudor Gold Announces Binding Letter of Intent to Acquire American Creek
Tudor expects to increase interest in the Treaty Creek Project to 80% Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) ("Tudor") and American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("American Creek") are pleased to announce that they have entered into a binding letter of intent (the "LOI") on June 6, 2025 pursuant to which Tudor will acquire all of the issued and outstanding shares (the "American Creek Shares") of American Creek by way of a plan of arrangement (the "Transaction"). Currently, American Creek holds a 20% carried interest, and Tudor a 60% interest, in the Treaty Creek Project located in northwest British Columbia. On completion of the Transaction, Tudor will hold an 80% interest in the Treaty Creek Project. The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. Under the terms of the Transaction, American Creek shareholders will receive 0.238 shares ("Tudor Shares") in the capital of Tudor for each American Creek Share (the "Exchange Ratio"). This implies premiums of 40% and 37% offered to American Creek shareholders based on the spot and 5-day VWAP of both companies as of market close on June 6, 2025. Following completion of the transaction, existing American Creek shareholders will own approximately 30% of the combined company resulting from the Transaction. The LOI provides for the parties to enter into a definitive arrangement agreement (the "Arrangement Agreement") setting out the final terms and conditions of the Transaction. Upon execution of the Arrangement Agreement, Tudor and American Creek will issue a subsequent news release containing the details of the Arrangement Agreement and any additional terms of the Transaction. Joe Ovsenek, President and CEO of Tudor Gold, commented: "Our acquisition of American Creek cements our interest in the Treaty Creek Project, which hosts one of the largest gold discoveries in Canada with excellent potential for expansion and additional gold-copper discoveries, at a reasonable per ounce of gold equivalent cost. With an increased ownership of the Treaty Creek Project, Tudor is better positioned to attract a wider range of potential investors to the developing story of this high-quality gold-copper asset. We welcome the American Creek shareholders to Tudor as we continue to strengthen the company to build on our exploration success and advance Treaty Creek on the path toward production." Darren Blaney, President and CEO of American Creek, commented: "We are very pleased to enter into this Letter of Intent with Tudor. We believe that this amalgamation transaction unlocks significant advantages for our shareholders that have been part of the Treaty Creek project for many years. The most notable advantage for American Creek shareholders is that they will receive a 40% premium to the present market price of their shares and still retain the full future upside potential as the Treaty Creek project advances. We also believe that through the consolidation of our two companies that operating costs will be more efficient and Tudor will be better positioned to secure future exploration and development capital. The consolidated 80% ownership also makes it much more likely that Tudor is able to attract a potential strategic partner to assist in accelerating project development towards production, while at the same time increasing Tudor's attractiveness with respect to becoming a potential takeover target by a larger developer. This is the most logical next step in ensuring that the Treaty Creek project moves forward, and provides additional value to our loyal shareholders. The Treaty Creek project is a world class gold-copper project and we very much look forward to joining with and supporting Tudor in their focused drive to take this project to the next level." Summary of the Transaction The Transaction is expected to be completed by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia). Under the terms of the LOI, Tudor will acquire all of the issued and outstanding American Creek Shares in exchange for Tudor Shares on the basis of the Exchange Ratio. Outstanding options and warrants to purchase American Creek Shares will become exercisable to acquire Tudor Shares on the same terms and conditions, on the basis of the Exchange Ratio. Immediately prior to the closing of the Transaction, Tudor and American Creek are expected to have 261,853,823 shares and 475,018,299 shares, respectively, issued and outstanding. On completion of the Transaction, the combined company is expected to have 374,908,178 shares issued and outstanding. No finder's fees are payable by either party. Tudor has agreed with certain insiders of American Creek to settle up to $1,220,773 in severance payments in Tudor Shares at a per share price of $0.537, the 5-day VWAP as of market close on June 6, 2025. The settlement remains subject to approval of the TSX Venture Exchange ("Exchange"). The Transaction will require the approval of: (a) two-thirds of the votes cast by shareholders of American Creek, and, if required, (b) a simple majority of the votes cast by minority American Creek shareholders in accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), at a special meeting of American Creek shareholders expected to take place in the third quarter of 2025 (the "American Creek Meeting"). MI 61-101 provides that, in certain circumstances, where a "related party" (as defined in MI 61-101) of an issuer is entitled to receive a "collateral benefit" (as defined in MI 61-101) in connection with an arrangement transaction such as the Transaction, such transaction may be considered a "business combination" for the purposes of MI 61-101 and subject to minority shareholder approval requirements. However, there are certain exceptions to these requirements. An independent committee of American Creek's board of directors will conduct a "collateral benefit" assessment and applicable disclosure and any vote exclusions will be disclosed in the information circular for the American Creek Meeting. Completion of the Transaction will be subject to customary closing conditions and receipt of necessary court and regulatory approvals, including Exchange approval. Subject to receipt of all necessary approvals, the Transaction is expected to close by no later than 5:00 p.m. on September 30, 2025 (the "Effective Time"). A copy of the LOI will be filed on Tudor's and American Creek's SEDAR+ profiles at Prior to entering into the Arrangement Agreement, all directors and officers of American Creek will enter into customary support and voting agreements. The LOI provides for the parties to enter into the Arrangement Agreement setting out the final terms and conditions of the Transaction on or before July 14, 2025. The Arrangement Agreement will include provisions such as conditions to closing the Transaction, and representations and warranties and covenants customary for arrangement agreements. Further details with respect to the Transaction will be included in the Arrangement Agreement and in an information circular to be mailed to American Creek shareholders in connection with the American Creek Meeting. Once available, a copy of the Arrangement Agreement will be filed on each of Tudor's and American Creek's SEDAR+ profiles at and a copy of the information circular will be filed on American Creek's SEDAR+ profile at Fairness Opinion and Advisor Prior to entering into the Arrangement Agreement, the disinterested members of the board of directors of American Creek will engage a financial advisor to provide American Creek with an opinion stating that the consideration offered pursuant to the LOI and Arrangement Agreement is fair, from a financial point of view to the holders of American Creek Shares. INFOR Financial Inc. is acting as financial advisor to American Creek. About Tudor Gold Tudor Gold Corp. is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (in which Tudor has a 60% interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corporation's Brucejack property to the southeast. For further information on Tudor, please visit Tudor's website at or contact: Joseph Ovsenek President & CEO(778) 731-1055 Chris CurranVice President of Investor Relations and Corporate Development(604) 559 8092 Tudor Gold 789, 999 West Hastings StreetVancouver, BCV6C 2W2info@ filings:Tudor Gold Corp.) About American Creek and the Treaty Creek Project American Creek is a proud partner in the Treaty Creek Project, a joint venture with Tudor Gold Corp. located in BC's prolific "Golden Triangle". American Creek holds a fully carried 20% interest in the Treaty Creek Project until a production notice is given, meaning that no exploration or development costs are incurred by American Creek until such time as a production notice has been issued. American Creek shareholders have a unique opportunity to avoid the dilutive effects of exploration while maintaining their full 20% exposure to one of the world's most exciting mega deposits. The Company also holds the Austruck-Bonanza gold property located near Kamloops, BC. ON BEHALF OF AMERICAN CREEK RESOURCES LTD. "Darren Blaney" Darren Blaney, President & CEO For further information on American Creek please contact: Kelvin Burton at: Phone: (403)752-4040 or Email: info@ Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of 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", "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, statements regarding: the Transaction; the Arrangement Agreement; the receipt of necessary shareholder, court and regulatory approvals for the Transaction; the anticipated timeline for completing the Transaction; the terms and conditions pursuant to which the Transaction will be completed, if at all; the anticipated benefits of the Transaction including, but not limited to Tudor having an 80% interest in the Treaty Creek Project; the combined company; the future financial and operational performance of the combined company; the combined company's exploration and development programs; and potential future revenue and cost synergies resulting from the Transaction. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. In respect of the forward-looking statements concerning the Transaction, including the entering into of the Arrangement Agreement, and the anticipated timing for completion of the Transaction including, but not limited to the expectation of Tudor having an 80% interest in the Treaty Creek Project, Tudor and American Creek have relied on certain assumptions that they believe are reasonable at this time, including assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court, shareholder, stock exchange and other third party approvals and the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Transaction. This timeline may change for a number of reasons, including unforeseen delays in preparing meeting materials; inability to secure necessary regulatory, court, shareholder, stock exchange or other third-party approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Transaction. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Risks and uncertainties that may cause such differences include but are not limited to: the risk that the Transaction may not be completed on a timely basis, if at all; the conditions to the consummation of the Transaction may not be satisfied; the risk that the Transaction may involve unexpected costs, liabilities or delays; the possibility that legal proceedings may be instituted against the Tudor, American Creek and/or others relating to the Transaction and the outcome of such proceedings; the possible occurrence of an event, change or other circumstance that could result in termination of the Transaction; risks relating to the failure to obtain necessary shareholder and court approval; other risks inherent in the plant-based food industry. Failure to obtain the requisite approvals, or the failure of the parties to otherwise satisfy the conditions to or complete the Transaction, may result in the Transaction not being completed on the proposed terms, or at all. In addition, if the Transaction is not completed, the announcement of the Transaction and the dedication of substantial resources of Tudor and American Creek to the completion of the Transaction could have a material adverse impact on each of Tudor's and American Creek's share price, its current business relationships and on the current and future operations, financial condition, and prospects of each Tudor and American Creek. Tudor and American Creek expressly disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. To view the source version of this press release, please visit
Yahoo
12-05-2025
- Business
- Yahoo
TUDOR GOLD Appoints Joe Ovsenek as President and CEO and Augments Its Executive Team
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor") is pleased to announce that it has augmented its executive team with the appointment of Joe Ovsenek as President and Chief Executive Officer, Ken McNaughton as Vice President, Project Development and Michelle Romero as Vice President, External Affairs, effective immediately. Grant Bond will assume the role of Chief Financial Officer following the filing of the Company's 2024 audited financial statements. Ken Konkin will remain with the Company and resume his previous role as Senior Vice President of Exploration. Augmented Executive Team The new members of the Company's executive team have been responsible for building teams and leading the growth of public resource companies from discovery through permitting and construction to production. Notably, Joe Ovsenek led the executive team, including Ken Konkin, as they advanced the Brucejack Mine from discovery to commercial production in under eight years while at Pretium Resources. For more background on each of the individuals, we refer you to our web site, Ken Konkin, Senior Vice President of Exploration and Director, commented: "On behalf of the team, I am very pleased to welcome Joe Ovsenek as the new President and CEO of Tudor Gold. Joe is a proven mine builder who recently transitioned from our Advisory Board to the Board of Directors, and now into his new leadership role. I've had the privilege of working with Joe for many years at Silver Standard and Pretium Resources, and I'm confident that his leadership and broad experience across all facets of the mining industry will greatly benefit the Company in its next chapter. I look forward to rejoining the technical team where I believe I can best apply my specific skill set as a base and precious metals explorationist. This move will undoubtably strengthen our team as we continue to advance Treaty Creek toward becoming a multi-generational tier-1 mining asset that benefits our shareholders, local communities and the province of British Columbia." Joe Ovsenek, President, CEO, and Director of Tudor Gold, stated: "We are looking forward to adding our experience to complement the talented and experienced technical team, led by Ken Konkin, advancing the Goldstorm Deposit at Treaty Creek. Treaty Creek stands out as a cornerstone asset with several key strategic advantages—including excellent infrastructure access, a robust and expanding copper, gold, and silver resource base, and strong relationships with First Nations and local communities. These strengths, along with the high-grade potential of the new SC-1 discovery, uniquely position Treaty Creek for long-term success. We are eager to roll up our sleeves and get working on unlocking further value for shareholders and supporting the economic growth of the region." About Tudor Gold TUDOR GOLD CORP. is a precious and base metals exploration and development Company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (in which TUDOR GOLD has a 60% interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corporation's Brucejack property to the southeast. ON BEHALF OF THE BOARD OF DIRECTORS OF TUDOR GOLD CORP. " Joe Ovsenek" Joe Ovsenek President and Chief Executive Officer For further information, please visit the Company's website at or contact: Chris CurranVice President of Investor Relations and Corporate DevelopmentPhone: (604) 559 8092E-Mail: 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. Cautionary Statements regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-Looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities; the Company's intention to construct an exploration ramp to target the Supercell Cell One Zone for infill and expansion drilling at their flagship Treaty Creek Project; that this initiative will substantially reduce both the cost and time required to drill and define the Supercell One Zone from underground drilling stations compared to conventional surface drilling; that once completed the underground infrastructure will provide long-term benefits to the project; the underground development will be important in the selection of optimum material required for a 10,000-tonne test for a pilot process; that the advantages of driving an exploration development ramp are significant and will bring significant value to the Project; once the underground exploration drift is completed, year-round drilling program of approximately 25,000 meters will focus on the Supercell One Zone and peripheral areas; following ramp construction, Tudor Gold will accelerate its drilling program with the goal of fully unlocking this potential multimillion ounce high-grade gold system; that the Supercell One Zone is on its way to becoming a significant asset within the Goldstorm Deposit; that the exploration drill campaign planned for the Supercell One Zone and the remainder of the Goldstorm Deposit will further enhance this potential; that this initiative will assist in attracting a strategic partnership; and that the Company plans to further explore the Supercell-One system and review other gold-dominant sub-domains. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof. Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's planned exploration activities will be completed in a timely manner. The Company's financial condition and development plans do not change as a result of unforeseen events, that future gold prices and the demand and market outlook for gold will remain stable or improve, that the exploration ramp will result in the benefits anticipated; that underground development is important in the selection of optimum material required for a pilot process; that the advantages of driving an exploration development ramp will prove to be significant and will bring significant value to the Project; assumptions regarding the Company's exploration plans; the viability of the Supercell One Zone and the impact of the exploration drill program on the same; and that the Company's initiatives will attract strategic partnership. Material assumptions relating to the indicated mineral resource and inferred mineral resource are contained in the Company's Technical Report filed on SEDAR+ at Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that the exploration ramp will not result in the benefits anticipated, increased competition, that management's expectations regarding the viability of the Supercell One Zone will prove to be inaccurate, that the Company will not have the resources required to carry out its exploration plans or complete construction of the exploration ramp, risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. 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03-04-2025
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P2 Gold Announces Positive Sullivan Zone Sample Assay Results from Gabbs Project; Commences Further Metallurgical Testwork
VANCOUVER, BC, April 3, 2025 /CNW/ - P2 Gold Inc. ("P2" or the "Company") (TSXV: PGLD) (OTCQB: PGLDF) reports that a sample has been collected and assayed from the Sullivan Zone at its wholly-owned, gold-copper Gabbs Project located on the Walker-Lane Trend in Nevada; and a Phase Three Metallurgical Program is underway. The Company has retained Kappes, Cassiday & Associates ("KCA") in Reno, Nevada to carry out the Phase Three Metallurgical Program. Sullivan Zone Sample Collection and Assay Results A 338-kilogram panel sample (the "Panel Sample"), measuring approximately 1 meter by 30 meters, was collected across the exposed oxide mineralization in a 10-meter-deep historic excavation at the Sullivan Zone at Gabbs. (See the photo of the mineralization with white sample bags below.) In addition, the remaining low, medium, and high-grade samples from drill core used in the previous metallurgical programs were composited into one sample (the "Composited Sample"). Representative cuts from the Panel and Composite Samples have been assayed in duplicate prior to starting the program. See Table 1 below for assay results. Table 1: Sullivan Zone Sample Assay Results, March 2025 (1) Sample Gold Grade(gpt) Silver Grade(gpt) Copper Grade(%) Panel Sample 2.029 15.79 0.42 Composited Sample 0.663 0.99 0.34 (1) Samples were submitted for preparation and multi-element analysis by KCA. All samples were analyzed using multi-acid digestion with ICP finish for gold and copper and fire assay with AA finish for gold. "The assay results of the sample collected at the Sullivan Zone support our enthusiasm and conviction for continuing to advance the Gabbs Project forward toward production," commented Joe Ovsenek, President and CEO of P2. "Moreover, based on the results of our prior testwork, we expect the next phase of our metallurgical program to deliver a meaningful increase in copper recoveries as well as an increase in gold recoveries, a direct boost to the project's bottom line. We look forward to providing further updates on our metallurgical program as we advance Gabbs." Using existing recoveries (78% for oxide gold mineralization and 54% for oxide copper mineralization) Gabbs has an internal rate of return of 50.1% and net present value at a 5% discount rate of over US$1.4 billion at April 1st spot metal prices of $3,132 gold, $33.97 silver and $4.39 copper. (See the Company's preliminary economic assessment announced on May 22, 2024 and described in the Gabbs Technical Report dated May 17, 2024 available under the Company's profile on SEDAR+ at 2025 Metallurgical Testwork The Phase Three Metallurgical Program now underway is focused on increasing copper and gold recoveries of the oxide mineralization and providing a marketing sample of the copper-silver SART (sulphidization, acidification, recycling and thickening) concentrate. The Phase Three program consists of leach testing approximately 150 kilograms of the Panel Sample in a 20-centimeter diameter column and approximately 20 kilograms of the Composited Sample in a 10-centimeter column. Initial results from the Phase Three Metallurgical Program are expected early in the third quarter of this year. Prior Metallurgical Programs The Phase One Metallurgical Program included testing for the potential recoveries of copper and gold from oxide mineralization by sequential leach using heap leach or conventional milling. The test work showed that gold and copper can be recovered by both process options, with extractions averaging 97.2% for gold and 95.2% for copper when the sample is ground to 100 microns. (See P2's news release of August 4, 2021.) The Phase Two metallurgical program, also conducted by KCA, was focused on determining the preferred extraction process for the Gabbs mineralization. Based on the results of that program, KCA proposed that the oxide material be heap leached and gold recovered as a salable doré and cyanide soluble copper produced as a salable copper sulphide concentrate. Column test leach results ranged up to 89% for gold and 62% for copper. The average extraction for the three column tests was 82% for gold and 50% for copper. (See P2's news release of May 13, 2022.) Qualified Person Ken McNaughton, Chief Exploration Officer, P2 Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Gabbs Project. Mr. McNaughton has reviewed, verified, and approved the scientific and technical information in this news release. About P2 Gold Inc. P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical testing is underway, and a water permit is expected in the second quarter of this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready. Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, information with respect to the Company's expectations, strategies and plans for its Gabbs Project including the Company's planned expenditures and exploration activities. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, the estimated internal rate of return and net present value at a 5% discount rate of the Gabbs Project, as well as the other assumptions disclosed in this news release. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information, including without limitation, the estimates and assumptions contained in the Gabbs Technical Report dated May 17, 2024, and risks associated with mineral exploration, including the risk that actual results and timing of exploration and development will be different from those expected by management. See "Risk Factors" in the Company's annual information form for the year ended December 31, 2024, dated March 21, 2025 filed on SEDAR+ at for a discussion of these risks. The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof. SOURCE P2 Gold Inc. View original content to download multimedia: Sign in to access your portfolio
