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Yahoo
7 hours ago
- Business
- Yahoo
Mayfair Provides Details on Open Pit Design Consideration and Confidence Drill Program to Support Preparation of Fenn-Gib Pre-Feasibility Study
Targeting near surface high-grade mineralization to support open pit mining operation Reverse circulation drill program planned to improve confidence in the zone targeted for early years of operations at Fenn-Gib VANCOUVER, BC, June 9, 2025 /CNW/ - Mayfair Gold Corp. ("Mayfair", "Mayfair Gold" or the "Company") (TSXV: MFG) (OTCQX: MFGCF) is pleased to provide an update on the conceptual pit designs being progressed to advance the Pre-Feasibility Study ("PFS") for the Fenn-Gib Gold Project in Ontario ("Fenn-Gib" or the "Project"). The PFS work is focused on advancing Fenn-Gib based on an open pit mining operation targeting a high-grade starter zone of mineralization. The Company's updated mineral resource estimate for the Fenn-Gib Project was released with an effective date of September 3, 2024 and originally presented in a news release dated September 10, 2024. At a 0.30 g/t gold cutoff, there is a total Indicated Mineral Resource estimate of 181.3 million tonnes at a grade of 0.74 g/t gold containing 4.3 million ounces of gold and an Inferred Mineral Resource estimate of 8.92 million tonnes at a grade of 0.49 g/t gold containing 0.14 million ounces of gold. The mineral resource estimate ("MRE") will be the basis for the PFS which is currently in progress and is expected to be completed by the end of 2025. For the PFS, the Company is targeting a mine design focused on the high-grade mineralization in the upper elevations of the open pit MRE to maximize the feed grade to the proposed processing plant. It is anticipated that the design will include a conventional drill and blast, with truck and shovel open pit mining operation supplying the plant. By applying a strategy that emphasizes an elevated cut-off grade targeting the high-grade near surface mineralization within the MRE, the result will maximize the value of the Fenn-Gib asset in the short-term while maintaining the integrity of the overall resource. Figure 1 shows the possible pit outline of a design using 0.8g/t COG and targeting a high-grade pit. Table 1: Fenn-Gib Open-Pit MRE effective date: 3 Sept 2024 INDICATED Cutoff (Au g/t) Tonnes ('000) Au (g/t) Au (oz) >0.7 64,563 1.26 2,615,000 >0.6 82,125 1.13 2,984,000 >0.5 105,644 1.00 3,397,000 >0.4 137,251 0.87 3,839,000 >0.3 181,302 0.74 4,313,000 INFERRED Cutoff (Au g/t) Tonnes ('000) Au (g/t) Au (oz) >0.7 1,140 0.96 35,000 >0.6 1,799 0.85 49,000 >0.5 2,710 0.75 65,000 >0.4 4,729 0.62 94,000 >0.3 8,921 0.49 141,000 Notes: 1. Effective date of this updated mineral resource estimate is September 3, 2024. The assay cut-off date for drill holes included in the mineral resource estimate was April 30, 2024. 2. All mineral resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum ("CIM") definitions, as required under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Mineral Resource Statement prepared by Tim Maunula, P. Geo (T. Maunula & Associates Consulting Inc.) in accordance with NI 43-101. 3. Mineral Resources reported demonstrate reasonable prospect of eventual economic extraction, as required under NI 43-101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Mineral Resources may be materially affected by environmental, permitting, legal, marketing, and other relevant issues. 4. Mineral Resources are reported at a cut-off grade of 0.30 g/t Au for an open-pit mining scenario using a 50° pit slope angle. Cut-off grades are based on a price of US$2,000/oz gold, and an open pit mining cost of $3.25/t, process cost of $15.50/t and G&A $2.00/t. Metallurgical recovery of 94% was used. Densities were assigned based on interpreted lithology. 5. Ounce (troy) = metric tonnes x grade / 31.10348. All numbers have been rounded to reflect the relative accuracy of the estimate. 6. The quantity and grade of reported Inferred Resources are uncertain in nature and there has not been sufficient work to define these Inferred Resources as Indicated or Measured Resources. It is reasonably expected that many of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. 7. Tonnages and ounces in the tables are rounded to the nearest thousand. Numbers may not total due to rounding. Reverse Circulation Drilling Program to Commence in Summer 2025 To provide additional data and improve confidence in the near surface high-grade zone of mineralization targeted in the early years of the proposed mine plan, Mayfair plans to complete a 20,000-metre reverse circulation ("RC") drill program at Fenn-Gib. The RC drilling program is to be completed in two stages. The first stage of the RC drill program is planned to begin in the summer of 2025, utilizing the existing onsite road network to partially test the near surface high grade zone. The second stage of the RC drill program will begin after the 2025 winter freeze-up, when ground conditions improve to allow Mayfair to more effectively complete the remaining RC drill program. This program will also advance additional diamond drilling with open pit geotechnical holes for improved clarity on pit wall designs needed for future operations. Nick Campbell, President and CEO of Mayfair Gold, stated, "Many open pit gold deposits have better grade deeper in the deposit. We believe Fenn-Gib is unique in that some of the highest grade mineralization occurs near surface. This allows for the potential to start operations at Fenn-Gib with a smaller, targeted, mining operation, focused on the near-surface, high-grade gold mineralization. Rather than targeting a larger scale operation, we think this approach allows Mayfair to focus operations on higher margin material at the start of operations, it mitigates construction execution risk, reduces initial capital requirements and provides a clear Ontario Provincial permitting path. With a current Canadian gold price in excess of C$4,600/oz, Mayfair is excited about the opportunity to advance Fenn-Gib into a new gold producer within the current gold cycle. The PFS is expected to be completed by the end of 2025. A nimble, smaller, targeted, high-grade operation should provide a path forward for the company to consider a production decision within the next three years. Advancing Fenn-Gib to production and cash flow should help fund potential future growth opportunities, including the potential to permit and develop a larger operation at Fenn-Gib that optimizes the full MRE." Mayfair Evaluating Potential to Uplist to NYSE American Exchange The Company is pleased to report that it is reviewing the potential to uplist to the NYSE American Exchange from the current OTCQX listing in the United States. Mayfair is reviewing the listing requirements and potential timelines to complete the uplisting process. The Company intends to provide further updates on the potential uplisting for Mayfair shares in the future. About Mayfair Gold Mayfair Gold is a Canadian mineral exploration company focused on advancing the 100% controlled Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair's flagship asset and currently hosts an updated NI 43-101 open pit constrained mineral resource estimate with an effective date of September 3, 2024 with a total Indicated Mineral Resource of 181.3M tonnes containing 4.3M ounces at a grade of 0.74 g/t Au and an Inferred Mineral Resource of 8.92M tonnes containing 0.14M ounces at a grade of 0.49 g/t Au at a 0.30 g/t Au cut-off grade. Please see the Company's news release dated September 10, 2024, for further information. Tim Maunula, P. Geo., of T. Maunula & Associates Consulting Inc., is a qualified person for the purposes of NI 43-101 and was responsible for the completion of the updated mineral resource estimate. Mr. Maunula has reviewed and approved the scientific and technical content with respect to the mineral resource estimate in this news release. Scientific and technical information with respect to diamond drilling in this news release has been reviewed and approved by Ali Gelinas-Dechene, Senior Geologist for Mayfair Gold, who oversaw the Mayfair Gold drill program, QA/QC and serves as a Qualified Person as defined under NI 43-101. The scientific and technical content of this news release was reviewed, verified and approved by Drew Anwyll, Chief Operating Officer of the Company, and a Qualified Person as defined under NI 43-101. Cautionary Notes to U.S. Investors Concerning Resource Estimates. This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the U.S. securities laws. In particular, and without limiting the generality of the foregoing, the terms "inferred mineral resources," "indicated mineral resources" and "mineral resources" used or referenced in this news release are Canadian mineral disclosure terms as defined in accordance with NI 43-101 under the guidelines set out in the 2014 Canadian Institute of Mining, Metallurgy and Petroleum Standards for Mineral Resources and Mineral Reserves, Definitions and Guidelines, May 2014 (the "CIM Standards"). The CIM Standards differ from the mineral property disclosure requirements of the U.S. Securities and Exchange Commission (the "SEC") in Regulation S-K Subpart 1300 (the "SEC Modernization Rules") under the U.S. Securities Act of 1933, as amended (the "Securities Act"). As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards. Accordingly, the Company's disclosure of mineralization and other technical information may differ significantly from the information that would be disclosed had the Company prepared the information under the standards adopted under the SEC Modernization Rules. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information which reflects management's expectations regarding the Company's growth, results of operations, performance and business prospects and opportunities. Forward-looking statements in this news release include, but are not limited to, statements regarding the design, development and execution of the Fenn-Gib Gold Project, the timing for completion of the PFS, the advancement of the Fenn-Gib Gold Project to operation and the timing thereof, advancing Fenn-Gib to production and cash flow expected to help fund potential future growth opportunities, including the potential to permit and develop a larger operation at Fenn-Gib, and the potential uplisting in the United States. Forward-looking information is based on various reasonable assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; that the Company can access financing, appropriate equipment and sufficient labour; and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should underlying assumptions prove incorrect, or one or more of the risks and uncertainties described below materialize, actual results may vary materially from those described in forward-looking statements. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; delays or the inability to obtain necessary governmental permits or financing; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labor disputes or other unanticipated difficulties with or shortages of labor; failure of plant, equipment or processes to operate as anticipated; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, gold price fluctuations; uncertain political and economic environments; and changes in laws or policies. The Company undertakes no obligation to publicly update or review the forward-looking statements whether as a result of new information, future events or otherwise, other than as required under applicable securities laws. The forward-looking statements reflect management's beliefs, opinions and projections as of the date of this news release. Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. SOURCE Mayfair Gold Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
7 hours ago
- Business
- Cision Canada
Mayfair Provides Details on Open Pit Design Consideration and Confidence Drill Program to Support Preparation of Fenn-Gib Pre-Feasibility Study
Targeting near surface high-grade mineralization to support open pit mining operation Reverse circulation drill program planned to improve confidence in the zone targeted for early years of operations at Fenn-Gib VANCOUVER, BC, June 9, 2025 /CNW/ - Mayfair Gold Corp. ("Mayfair", "Mayfair Gold" or the "Company") (TSXV: MFG) (OTCQX: MFGCF) is pleased to provide an update on the conceptual pit designs being progressed to advance the Pre-Feasibility Study ("PFS") for the Fenn-Gib Gold Project in Ontario ("Fenn-Gib" or the "Project"). The PFS work is focused on advancing Fenn-Gib based on an open pit mining operation targeting a high-grade starter zone of mineralization. The Company's updated mineral resource estimate for the Fenn-Gib Project was released with an effective date of September 3, 2024 and originally presented in a news release dated September 10, 2024. At a 0.30 g/t gold cutoff, there is a total Indicated Mineral Resource estimate of 181.3 million tonnes at a grade of 0.74 g/t gold containing 4.3 million ounces of gold and an Inferred Mineral Resource estimate of 8.92 million tonnes at a grade of 0.49 g/t gold containing 0.14 million ounces of gold. The mineral resource estimate ("MRE") will be the basis for the PFS which is currently in progress and is expected to be completed by the end of 2025. For the PFS, the Company is targeting a mine design focused on the high-grade mineralization in the upper elevations of the open pit MRE to maximize the feed grade to the proposed processing plant. It is anticipated that the design will include a conventional drill and blast, with truck and shovel open pit mining operation supplying the plant. By applying a strategy that emphasizes an elevated cut-off grade targeting the high-grade near surface mineralization within the MRE, the result will maximize the value of the Fenn-Gib asset in the short-term while maintaining the integrity of the overall resource. Figure 1 shows the possible pit outline of a design using 0.8g/t COG and targeting a high-grade pit. Table 1: Fenn-Gib Open-Pit MRE effective date: 3 Sept 2024 Notes: 1. Effective date of this updated mineral resource estimate is September 3, 2024. The assay cut-off date for drill holes included in the mineral resource estimate was April 30, 2024. 2. All mineral resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum ("CIM") definitions, as required under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Mineral Resource Statement prepared by Tim Maunula, P. Geo (T. Maunula & Associates Consulting Inc.) in accordance with NI 43-101. 3. Mineral Resources reported demonstrate reasonable prospect of eventual economic extraction, as required under NI 43-101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Mineral Resources may be materially affected by environmental, permitting, legal, marketing, and other relevant issues. 4. Mineral Resources are reported at a cut-off grade of 0.30 g/t Au for an open-pit mining scenario using a 50° pit slope angle. Cut-off grades are based on a price of US$2,000/oz gold, and an open pit mining cost of $3.25/t, process cost of $15.50/t and G&A $2.00/t. Metallurgical recovery of 94% was used. Densities were assigned based on interpreted lithology. 5. Ounce (troy) = metric tonnes x grade / 31.10348. All numbers have been rounded to reflect the relative accuracy of the estimate. 6. The quantity and grade of reported Inferred Resources are uncertain in nature and there has not been sufficient work to define these Inferred Resources as Indicated or Measured Resources. It is reasonably expected that many of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. 7. Tonnages and ounces in the tables are rounded to the nearest thousand. Numbers may not total due to rounding. Reverse Circulation Drilling Program to Commence in Summer 2025 To provide additional data and improve confidence in the near surface high-grade zone of mineralization targeted in the early years of the proposed mine plan, Mayfair plans to complete a 20,000-metre reverse circulation ("RC") drill program at Fenn-Gib. The RC drilling program is to be completed in two stages. The first stage of the RC drill program is planned to begin in the summer of 2025, utilizing the existing onsite road network to partially test the near surface high grade zone. The second stage of the RC drill program will begin after the 2025 winter freeze-up, when ground conditions improve to allow Mayfair to more effectively complete the remaining RC drill program. This program will also advance additional diamond drilling with open pit geotechnical holes for improved clarity on pit wall designs needed for future operations. Nick Campbell, President and CEO of Mayfair Gold, stated, " Many open pit gold deposits have better grade deeper in the deposit. We believe Fenn-Gib is unique in that some of the highest grade mineralization occurs near surface. This allows for the potential to start operations at Fenn-Gib with a smaller, targeted, mining operation, focused on the near-surface, high-grade gold mineralization. Rather than targeting a larger scale operation, we think this approach allows Mayfair to focus operations on higher margin material at the start of operations, it mitigates construction execution risk, reduces initial capital requirements and provides a clear Ontario Provincial permitting path. With a current Canadian gold price in excess of C$4,600/oz, Mayfair is excited about the opportunity to advance Fenn-Gib into a new gold producer within the current gold cycle. The PFS is expected to be completed by the end of 2025. A nimble, smaller, targeted, high-grade operation should provide a path forward for the company to consider a production decision within the next three years. Advancing Fenn-Gib to production and cash flow should help fund potential future growth opportunities, including the potential to permit and develop a larger operation at Fenn-Gib that optimizes the full MRE." Mayfair Evaluating Potential to Uplist to NYSE American Exchange The Company is pleased to report that it is reviewing the potential to uplist to the NYSE American Exchange from the current OTCQX listing in the United States. Mayfair is reviewing the listing requirements and potential timelines to complete the uplisting process. The Company intends to provide further updates on the potential uplisting for Mayfair shares in the future. About Mayfair Gold Mayfair Gold is a Canadian mineral exploration company focused on advancing the 100% controlled Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair's flagship asset and currently hosts an updated NI 43-101 open pit constrained mineral resource estimate with an effective date of September 3, 2024 with a total Indicated Mineral Resource of 181.3M tonnes containing 4.3M ounces at a grade of 0.74 g/t Au and an Inferred Mineral Resource of 8.92M tonnes containing 0.14M ounces at a grade of 0.49 g/t Au at a 0.30 g/t Au cut-off grade. Please see the Company's news release dated September 10, 2024, for further information. Tim Maunula, P. Geo., of T. Maunula & Associates Consulting Inc., is a qualified person for the purposes of NI 43-101 and was responsible for the completion of the updated mineral resource estimate. Mr. Maunula has reviewed and approved the scientific and technical content with respect to the mineral resource estimate in this news release. Scientific and technical information with respect to diamond drilling in this news release has been reviewed and approved by Ali Gelinas-Dechene, Senior Geologist for Mayfair Gold, who oversaw the Mayfair Gold drill program, QA/QC and serves as a Qualified Person as defined under NI 43-101. The scientific and technical content of this news release was reviewed, verified and approved by Drew Anwyll, Chief Operating Officer of the Company, and a Qualified Person as defined under NI 43-101. Cautionary Notes to U.S. Investors Concerning Resource Estimates. This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the U.S. securities laws. In particular, and without limiting the generality of the foregoing, the terms "inferred mineral resources," "indicated mineral resources" and "mineral resources" used or referenced in this news release are Canadian mineral disclosure terms as defined in accordance with NI 43-101 under the guidelines set out in the 2014 Canadian Institute of Mining, Metallurgy and Petroleum Standards for Mineral Resources and Mineral Reserves, Definitions and Guidelines, May 2014 (the "CIM Standards"). The CIM Standards differ from the mineral property disclosure requirements of the U.S. Securities and Exchange Commission (the "SEC") in Regulation S-K Subpart 1300 (the "SEC Modernization Rules") under the U.S. Securities Act of 1933, as amended (the "Securities Act"). As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards. Accordingly, the Company's disclosure of mineralization and other technical information may differ significantly from the information that would be disclosed had the Company prepared the information under the standards adopted under the SEC Modernization Rules. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information which reflects management's expectations regarding the Company's growth, results of operations, performance and business prospects and opportunities. Forward-looking statements in this news release include, but are not limited to, statements regarding the design, development and execution of the Fenn-Gib Gold Project, the timing for completion of the PFS, the advancement of the Fenn-Gib Gold Project to operation and the timing thereof, advancing Fenn-Gib to production and cash flow expected to help fund potential future growth opportunities, including the potential to permit and develop a larger operation at Fenn-Gib, and the potential uplisting in the United States. Forward-looking information is based on various reasonable assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; that the Company can access financing, appropriate equipment and sufficient labour; and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should underlying assumptions prove incorrect, or one or more of the risks and uncertainties described below materialize, actual results may vary materially from those described in forward-looking statements. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; delays or the inability to obtain necessary governmental permits or financing; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labor disputes or other unanticipated difficulties with or shortages of labor; failure of plant, equipment or processes to operate as anticipated; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, gold price fluctuations; uncertain political and economic environments; and changes in laws or policies. The Company undertakes no obligation to publicly update or review the forward-looking statements whether as a result of new information, future events or otherwise, other than as required under applicable securities laws. The forward-looking statements reflect management's beliefs, opinions and projections as of the date of this news release. Neither the TSX Venture Exchange (" TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. SOURCE Mayfair Gold Corp.
Yahoo
4 days ago
- Business
- Yahoo
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
TORONTO, June 05, 2025--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ("LRC") is pleased to congratulate Power Metals Corp. ("Power Metals") on its maiden mineral resource estimate ("MRE") for the West Joe Dyke within the Case Lake property in Ontario. The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs2O), with a cut-off grade of 0.1% Cs2O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. "The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year," said Ernie Ortiz, President and CEO of LRC. "With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp." Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Key Highlights Power Metals Case Lake Project: Power Metals released their maiden mineral resource estimate at the Case Lake property of 13,000 tonnes inferred mineral resource at 2.4% Cs2O with a cut-off grade of 0.1% Cs2O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Other assets with cesium exposure in the LRC portfolio include: Winsome Resources' Sirmac-Clapier Project: Winsome announced that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Grid Metals Donner Lake Project: Grid Metals announced the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ("Tanco"), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Cesium Market Overview Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Defense: Night vision imaging, specialty glass Communication: 5G, fiber optic communication, ion cloud communication Emerging energy: novel energy generation including magneto-fluidic and thermo-ionic conversion Medical: medical imaging equipment, pharmaceutical production Aerospace: GPS satellite constellations and civilian and military navigation The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. About Lithium Royalty Corp. LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Forward Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding LRC's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "potential for", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium and cesium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have "passive foreign investment company" ("PFIC") status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium and cesium products) that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, please refer to LRC's most recent Annual Information Form dated March 17, 2025 and filed with the Canadian securities regulatory authorities on These risks and uncertainties include, but are not limited to, those described under "Risk Factors" in the Annual Information Form, and in particular risks summarized under the "Risks Related to Mining Operations" heading. View source version on Contacts Jonida ZaganjoriInvestor Relations(647) 792-1100jonida@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
6 days ago
- Business
- Cision Canada
NEVADA KING ANNOUNCES MORE THAN DOUBLING OF M&I RESOURCE AT ATLANTA TO 1,019,600 GOLD OUNCES AVERAGING 1.14 G/T
VANCOUVER, BC, June 4, 2025 /CNW/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) (" Nevada King" or the " Company") is pleased to report an updated Mineral Resource Estimate (" MRE") for its 12,000 hectare (120km 2), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend, 264km northeast of Las Vegas, Nevada. The MRE was prepared by RESPEC (formerly Mine Development Associates) based out of Reno, Nevada, a group with unmatched experience working with Nevada-based deposits. Atlanta Resource Highlights: Measured and Indicated ("M&I") resources: 27.7 million tonnes (Mt) at an average gold grade of 1.14g/t for 1,019,600 ounces of contained gold, representing a more than doubling (122% increase) of M&I resources compared to the 2020 resource estimate, highlighting the success of the Company's Phase I & II resource definition drilling campaigns. 91% of the total gold ounces are categorized within the higher confidence M&I categories, with just 9% in the inferred category (see Table 1). Tonnes Au g/t Au oz Ag g/t Ag oz AuEq g/t AuEq oz M&I 27,710,300 1.14 1,019,600 9.75 8,687,400 1.20 1,069,700 Inferred 3,638,400 0.84 98,500 2.56 299,500 0.85 99,800 Table 1. Pit-constrained MRE summary for Atlanta High-grade core: M&I resources include a high-grade core of 524koz Au averaging 3.99g/t Au at a 2 g/t AuEq cut-off grade (" COG"). This high-grade core alone contains more ounces than the 2020 M&I resource estimate and at more than triple (207% increase) the average grade. Open-pit, oxide gold system: This pit-constrained, oxide resource applies a US$2,200/oz gold price and assumes recoveries and processing methods from the Company's Phase 1 metallurgical test work program, which outlines conventional Nevada oxide processing methods at Atlanta (link here). Significant growth potential: Today's resource covers the Atlanta Resource zone and does not incorporate mineralization encountered in the Company's Phase III drilling, including the recent discovery of gold and silver mineralization at Silver Park. Management sees clear potential for continued resource expansion with mineralization open to the north, south and west of the resource zone, as well as the potential for finding regional satellite deposits. Collin Kettell, CEO of Nevada King, stated: "This updated MRE was prepared by RESPEC, a highly regarded engineering firm that represents the gold standard for Nevada projects. The results mark a major milestone at Atlanta, confirming a high-grade and high-confidence oxide gold system in one of the most sought-after jurisdictions in the world. We are pleased to exceed the 1Moz Au threshold in the M&I category while maintaining the grade of oxide mineralization well above 1 g/t. Today's results highlight the success of our Phase I and II drill programs and validate our technical team's geological model and drilling since 2021. With this MRE under our belt, we will continue our quest to unlock the full potential of the Atlanta district. Our fully funded, aggressive Phase III exploration drill program is aimed at demonstrating Atlanta's multi-million-ounce potential." Cal Herron, Exploration Manager of Nevada King, remarked: "Atlanta is a unique system with multiple instances of high-grade gold deposition. These high-grade zones, which play prominently into today's resource estimate, were a key target of our Phase II drill program. "When we began our work at Atlanta, the resource totaled 460,000 M&I ounces averaging 1.30 g/t. Today's resource update more than doubles that figure and includes significantly more high-grade material, which is largely the result of thicker, higher-grade intercepts within the West Atlanta Graben Zone. We see clear potential for expansion of this zone to the south, north and west with the possibility of finding additional elevated high-grade zones. "The Company's unwavering support behind its technical team coupled with its commitment to seeing the exploration program completed made it possible to boost a modest deposit into a high-grade, +1 Moz deposit – a rare achievement for open pit oxide deposits in safe jurisdictions. That same tenacity is still at play today, pushing our Phase III exploration forward throughout the Atlanta District in search of new deposits." 2025 Mineral Resource Estimate Open pit oxide resources to be processed at a mill are estimated at 14.5Mt grading 1.72g/t Au for 803koz of contained gold in the M&I category, while 1.0Mt grading 2.24g/t for 70koz of contained gold are in the Inferred category. Open pit oxide resources to be processed via a heap leach are estimated at 13.2Mt grading 0.51g/t Au for 216koz of contained gold in the M&I category, while 2.7Mt grading 0.34g/t for 29koz of contained gold are in the Inferred category. Material Tonnes Au g/t Au oz Ag g/t Ag oz AuEq g/t AuEq oz Measured Heap Leach 1,246,000 0.60 24,200 3.16 126,500 0.61 24,500 Measured Mill 80,700 4.43 11,500 15.56 40,400 4.55 11,800 Measured Mill Breccia 2,103,400 2.00 135,100 25.19 1,703,300 2.15 145,700 Measured 3,430,100 1.55 170,800 16.96 1,870,200 1.65 182,000 Indicated Heap Leach 11,921,000 0.50 192,100 3.05 1,167,800 0.51 195,200 Indicated Mill 397,000 4.66 59,500 11.66 148,800 4.75 60,700 Indicated Mill Breccia 11,962,200 1.55 597,200 14.30 5,500,600 1.64 631,800 Indicated 24,280,200 1.09 848,800 8.73 6,817,200 1.14 887,700 M&I 27,710,300 1.14 1,019,600 9.75 8,687,400 1.20 1,069,700 Inferred Heap Leach 167,600 0.49 2,600 0.02 100 0.49 2,600 Inferred Mill 1,000 3.19 100 2.87 100 3.21 100 Inferred Mill Breccia 965,700 2.24 69,600 2.86 88,800 2.25 69,900 Inferred Heap Leach (Dump/Pad) 2,504,100 0.33 26,200 2.61 210,500 0.34 27,200 Inferred 3,638,400 0.84 98,500 2.56 299,500 0.85 99,800 Table 3. Mineral resource estimate by lithology and processing method The Mineral Resources have been prepared by Jeff Bickel, C.P.G of RESPEC (formerly Mine Development Associates) in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and are reported in accordance with the Canadian Securities Administrators National Instrument 43-101 (" NI 43-101"). Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all Mineral Resources will be converted into Mineral Reserves. The project mineral resources are estimated using a variable gold equivalent (AuEq) cut-off grade. Gold Equivalent (AuEq) equation: AuEq = (US$2,200/oz Au / US$25/oz Ag) * (Gold Recovery / Silver Recovery). Gold and Silver Recoveries were variable based on grade and material type (See table below for recovery equations). Heap leach material cut-off grade of 0.14 g/t AuEq, heap leach dump/pad material cut-off grade of 0.14 g/t AuEq, mill material cross over-grade of 2.34 g/t AuEq, and mill breccia material cut-off grade of 0.33 g/t AuEq within an optimized pit. Mineral Resources within the optimized pit with a slope angle of 45 degrees. Additional inputs for Whittle pit-optimization include: mining costs of US$2.17/tonne mined; remining costs of US$1.63/tonne mined for dump/pad material; heap leach costs of US$3.28/tonne processed, milling costs of US$13.53/tonne processed, and general and administrative costs of US$0.96/tonne processed. The reported MRE have been constrained within optimized pit shells using a gold price of US$2,200/oz Au and a silver price of US$23.91/oz Ag. These metal prices, as well as the metal recoveries summarized below, were used to calculate cut-off grades and contained ounces. The MRE is based on 93,461.5m in 468 drill holes, with 76,933.8m in 407 holes drilled by Nevada King from 2020-2024 and the remainder by previous operators between 1997-2015. A technical report on the MRE will be prepared in accordance with NI 43-101 and will be filed within 45 days of this news release on Nevada King's issuer profile on SEDAR+ at This MRE has an effective date of September 6, 2024. Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content. Gold and Silver recovery equations summarized by material type in table below: Heap Leach Au IF(au_c.G>0.40,3.981*LOG(au_c.G)+72.851,7.165*LOG(au_c.G)+75.224)/100 Mill Au IF(au_c.G>0.40,1.678*LOG(au_c.G)+86.519,4.068*LOG(au_c.G)+88.504)/100 Mill Breccia Au IF(au_c.G>0.40,3.074*LOG(au_c.G)+82.642,6.594*LOG(au_c.G)+85.399)/100 Heap Leach Ag IF(ag_c.G>8.00,(0.846*LOG(ag_c.G)+12.932)/100,(1.229*LOG(ag_c.G)+12.183)/100) Mill Ag IF(ag_c.G>8.00,(7.012*LOG(ag_c.G)+33.209)/100,(13.043*LOG(ag_c.G)+20.046)/100) Mill Breccia Ag IF(ag_c.G>8.00,(1.266*LOG(ag_c.G)+40.846)/100,(1.957*LOG(ag_c.G)+39.479)/100) 2025 Tonnes Au g/t Au oz Ag g/t Ag oz AuEq g/t AuEq oz M&I 27,710,300 1.14 1,019,600 9.75 8,687,400 1.20 1,069,700 Inferred 3,638,400 0.84 98,500 2.56 299,500 0.85 99,800 2020 Tonnes Au g/t Au oz Ag g/t Ag oz AuEq g/t AuEq oz M&I 11,040,000 1.30 460,000 11.89 4,220,000 1.43 505,864 Inferred 5,310,000 0.83 142,000 7.30 1,240,000 0.91 155,477 % change Tonnes Au g/t Au oz Ag g/t Ag oz AuEq g/t AuEq oz M&I 151 % -12 % 122 % -18 % 106 % -16 % 111 % Inferred -31 % 1 % -31 % -65 % -76 % -6 % -36 % Table 4. Mineral resource estimate changes from 2020 to 2025 MRE Methods The effective date of the MRE is September 6, 2024. RESPEC (formerly Mine Development Associates) worked with Nevada King to create three-dimensional geological models based on original cross-sections supplied by Nevada King which were the basis for the interpretation of mineralization of the deposit leading to the MRE. Gold and silver mineral resources were modeled and estimated as follows: Define mineral domains based on the Atlanta geological model and geostatistical analysis of drillhole data. Create polygons of explicitly modeled cross-sectional interpretations of constrained low-, medium- and high-grade mineral-domains for both gold and silver snapped to drillholes. The grade domains were guided by the geological model and integrated other relevant geological information. Rectified the cross-sections on evenly spaced long-section polygons which has plane locations coinciding with the resource block model centroids along y-axis columns. Coded a block model to the gold and silver domains using the mineral-domain long-section polygons. Composited drill hole assay sample data within the mineralized domains into 1.5 m length composites. Analyzed the modelled mineralization geostatistically to aid in the establishment of estimation and classification parameters, and Interpolated grades into block models using the gold and silver mineral domains to explicitly constrain the grade estimations. RESPEC utilized Inverse Distance Squared (ID2) interpolation for the estimation to obtain a localizing effect in the mid- and high-grade domains to best represent the spatial distribution of mineralization in the deposit. All estimates are based on a block dimension of 1.5 m by 1.5 m by 1.5 m. Resource sensitivity at various cut-offs The following table considers average cut-off within the optimized pit for the purposes of demonstrating overall sensitivities. Table 4. Mineral resource estimate sensitivities based on cut-off. 1. This table is only included to demonstrate the sensitivity of changes in cut-off grade and the values should be considered a subset of existing mineral resources. 2. Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grade, and contained metal content. Next Steps Exploration continues with the Company's ongoing Phase III drill program, which was recently expanded to 30,000m from 20,000m and is fully funded. The Phase III program is focused on regional drilling and with gold and silver mineralization identified at Silver Park, Atlanta South, and Atlanta North exploration targets, these areas will continue to be the focus of the exploration program with potential to further increase the drill program through the rest of the year. In addition to continued exploration, the company will also continue to de-risk the project through further metallurgical test work, geotechnical work, environmental studies, and permit planning. QA/QC Protocols All Reverse Circulation (RC) samples from the Atlanta Project are split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. CRF standards, blanks, and duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates directly to American Assay Lab in Reno, Nevada, with full custody being maintained at all times. At American Assay Lab, samples were weighted then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns to produce a 300g pulverized split. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates. The PQ-diameter core was sampled in the Company's warehouse in Winnemucca, Nevada, with whole core samples being placed in heavy canvas bags and sent to American Assay Lab in Reno, Nevada, in heavy shipping bags by a Company contractor with full custody being always maintained. CRF standards and coarse blanks were inserted into the sample stream on a one-in-twenty sample basis, meaning both inserts are included in each 20-sample group. At American Assay Lab, samples were weighted, and then completely crushed to -1 inch. The coarse-crushed sample was quarter-split, and one quarter was reduced to 75% passing 2mm. A 300g split was subsequently pulverized to 85% passing 75 microns. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates. Qualified Person The MRE for Atlanta was prepared under the supervision of Jeffrey Bickel, CPG, an employee of RESPEC. Mr. Bickel has reviewed and approved the technical contents relating to the MRE in this news release. Mr. Bickel has reviewed the sampling, assaying, and security procedures used at the Atlanta Project and it is his opinion that they follow industry standard procedures and are adequate for the estimation of the MRE and for use in preparing the Technical Report. Mr. Bickel completed audits of the databases provided by Nevada King, performed a site visit, and reviewed quality assurance and quality control data and procedures. After performing his review, he considers the assay data to be adequate for the estimation of the MRE and for use in preparing the Technical Report. The scientific and technical information in this news release has been reviewed and approved by Calvin R. Herron, who is a Qualified Person as defined by NI 43-101, and he supervises all of the Company's exploration activities. About Nevada King Gold Corp. Nevada King is focused on advancing and growing its 100% owned, past producing, 120km 2 Atlanta Gold Mine project located along the Battle Mountain trend in southeast Nevada. The project hosts an NI 43-101 compliant pit-constrained oxide resource of 1,020koz Au in the measured and indicated category (27.7M tonnes at 1.14 g/t) plus an inferred resource of 98.5koz Au (3.6M tonnes at 0.84 g/t and replaces the Gustavson 2020 resource summarized below (see the NI 43-101 Technical Report on Resources titled "Atlanta Property, Lincoln County, NV" with an effective date of October 6, 2020, and a report date of December 22, 2020, as prepared by Gustavson Associates and filed under the Company's profile on SEDAR+ Previous NI 43-101 Mineral Resources at the Atlanta Mine by Gustavson 2020 NI 43-101 Mineral Resources at the Atlanta Mine by RESPEC 2025 Please see the Company's website at 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. Cautionary Statements Regarding Forward Looking Information This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Nevada King, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, further exploration activities at Atlanta, including the potential for continued resource expansion and locating regional satellite deposits, and derisking the Atlanta Project through further metallurgical test work, geotechnical work, environmental studies, and permit planning. 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. Forward-looking statements reflect beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's filings on SEDAR+ at for a more complete discussion of such risk factors and their potential effects. Nevada King does not assume any obligation to update forward-looking statements should beliefs, opinions, projections, or other factors, change, except as required by applicable securities laws. SOURCE Nevada King Gold Corp.
Ya Biladi
29-05-2025
- Business
- Ya Biladi
Morocco's Marhaba Operation : New customs benefits for returning Moroccans
Led by the Mohammed V Foundation for Solidarity, the Marhaba operation will run from June 15 to September 15 this year, with support from the Customs and Indirect Tax Administration (ADII) to assist Moroccans living abroad (MRE) in their administrative procedures. Focused on simplifying processes, improving access to information, and supporting investment project holders, a circular issued Wednesday outlines these initiatives in line with the commitments of the «Welcome Charter». According to Circular 6659/311, the main new measure this year concerns a 90% reduction in customs duties for the «consumption release of older vehicles owned by Moroccans living abroad». This fiscal benefit applies to Moroccans worldwide aged 60 or older who have lived abroad for at least ten years, provided they present a registration certificate from a Moroccan diplomatic or consular office confirming this period of residency. Since some Moroccans living abroad hold registration certificates showing less than 10 years abroad but can provide other documents proving a stay of 10 years or more, the ADII has authorized provincial and prefectural customs directors to approve customs clearance under this fiscal benefit based on any authenticated document establishing compliance with the 10-year residency condition. Acceptable documents include a detailed residency history issued by competent authorities (police, town hall, employment offices), a residence card or consular registration, a foreign ID card with an overseas address, or a certificate of residence abroad. Facilitations for MRE Returning Permanently For MRE returning to live permanently in Morocco, Circular 4158/312 (dated 16/05/1991) grants a three-year vehicle age exemption for duties and taxes on one vehicle per person, once in a lifetime—excluding diplomats and students. Previously, beneficiaries had to provide payslips covering at least two years or proof of tax declarations; the new circular now waives this requirement to simplify the process. Other conditions remain in place, detailed in the circular's annex and the 2025 Guide for Moroccans of the World, available online. MRE employees, traders, and professionals can also enjoy full exemptions from duties and taxes on used furniture, personal effects, clothing, and one unit per household appliance category (refrigerator, washing machine, stove, etc.). Personal items must not exceed a total value of 30,000 dirhams, and used tools/materials must not exceed 150,000 dirhams; amounts above these thresholds require payment of duties at the current rates. Students, itinerant traders, or workers residing in Gibraltar for at least five years are also eligible for similar facilitations and exemptions—one relocation per family—provided they submit specific documents, including an official certificate of change of residence (from municipal authorities or Moroccan consulates) and a dated, signed detailed inventory of their belongings. The ADII emphasizes that importing furniture and changing residence must happen simultaneously, with all items imported at once. If moved in two parts, both shipments must be listed on the initial inventory and processed by the same customs office within six months from the certificate's issuance. Finally, the ADII underlines its commitment to enhanced cooperation with all stakeholders involved in this operation and requests that any application difficulties be promptly reported to the Central Administration using this circular as reference.
