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3 days ago
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Giant Mining Submits Core For Assay From 1,963 Foot Hole Mhb-34 At Majuba Hill Copper Project- Advancing Critical Minerals In Nevada
VANCOUVER, BRITISH COLUMBIA - May 30, 2025 (NEWMEDIAWIRE) - Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) (CSE: ("Giant Mining" or the "Company") is pleased to announce that all core from drill hole MHB-34, completed to a total depth of 1,963 feet (598.3 metres)has been sampled and submitted to ALS Global Services ("ALS Labs") for analysis. This hole was part of the Company's Phase 1 Spring 2025 Drill Program (the "Core Program"), which comprised five diamond drill holes totaling 5,484.5 feet (1,671.68 metres) at the Majuba Hill Porphyry Copper-Silver-Gold Project ("Majuba Hill"), located in Pershing County, Nevada . Figure 1. MHB-34 Core Being Processed for bagging and shipping to ALS for assays The Phase 1 program was designed to expand known zones of copper mineralization and advance the Majuba Hill project toward completion of a Mineral Resource Estimate (MRE). Hole MHB-32, the first of the five holes drilled, returned two significant copper-mineralized zones within a broader interval of 379.5 feet (115.7 metres) grading 0.33% Cu and 16.97 ppm Ag. Notably, the results included 169.5 feet of 0.41% Cu, with higher-grade intervals of 40 feet at 1.36% Cu and 10 feet at 4.36% Cu, indicating that mineralization extends deeper and farther north than previously known. See Press release May 22, 2025, here. David Greenway, CEO of Giant Mining, commented: "In my entire career, I've never seen drill core like this, it's truly extraordinary. When we began drilling MHB-34, we had high expectations, but what we encountered exceeded them all. In my entire career, I've never seen drill core like this. The presence of visible native copper beyond 1,850 feet, alongside cuprite and chalcopyrite, is a powerful indicator of the scale and strength of the mineralized system at Majuba Hill. This hole reinforces our belief that Majuba Hill is evolving into a world-class copper, silver, and gold discovery. Located in a top-tier mining jurisdiction with excellent infrastructure, this project is uniquely positioned to contribute to America's clean energy transition and critical minerals independence. We eagerly await the assay results from ALS Labs and look forward to advancing our 2025 exploration program." Click to see Figure 2: MHB-32 NQ Core closeup. Clasts of intrusive with chalcopyrite in tourmaline/chalcopyrite matrix breccia at 810 ft (246.89 m). About Hole MHB-34 Visible native copper observed beyond 1,850 feet signals scale and strength at Majuba Hill. Strong presence of native copper, cuprite, and chalcopyrite suggests proximity to a primary copper sulfide zone. Majuba Hill positioned as a homegrown U.S. critical minerals project with Tier 1 infrastructure advantages. As shown in the accompanying images (Figure 2-5), native copper, cuprite, and chalcopyrite was persistent in the deeper part of MHB-34. Click to see Figure 3: MHB-34/1499 ft (456.9 m) Native Cu on fracture HQ Core, 2.5-inch (63.5 mm) diam. Click to see Figure 4: MHB-34/1510 ft (460.2 m) Native Cu in HQ Core with chalcopyrite, 2.5-inch (63.5 mm) diam. Click to see Figure 5: MHB-34 1527 ft (465.4 m) Chalcopyrite and Tourmaline Breccia Matrix, HQ Core 2.5-inch (63.5 mm) diam. Click to see Figure 6: MHB-34/1542 ft 470 m) Chalcopyrite with Cuprite and Native Copper, HQ Core 2.5-inch (63.5 mm) Hill's critically important characteristics are as follows: Location: Nevada, USA - a globally top-ranked mining jurisdiction, ranked #1 in the Fraser Institute's 2022 Annual Survey of Mining Companies. Project Size: 9,684 Acres Infrastructure: The Majuba Hill property is 113 road km (70 miles) southwest of Winnemucca, Nevada, and 251 km (156 miles) northeast of Reno. Access is by well-maintained county roads from the Imlay, Nevada exit on U.S. Interstate 80, and traveling westward 23 miles. People, Roads, Power and Water are the basic elements when considering infrastructure and Majuba Hill already has a solid infrastructure foundation for building a large facility which will provide significant savings compared to more remote projects History: Historical Producer Drilling: Approximately 89395 feet of drilling to date. Rough replacement value of drilling USD $12.1 Million using current costs. Mineralization: The project shows indications of a potentially large Cu Ag +/- Au mineralized body with many features in common with both large porphyry copper, silver, and gold projects. Expandability: The IP survey, deep drilling, and step-out drilling indicate significant expansion potential, with mineralization open in all directions. Fully Financed: Secured funding for 2025 Drilling Campaign Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody The Company utilizes a QA/QC program using best industry practices at the Majuba Hill Project. Drill core samples are sawn in half lengthwise and one half is placed in labeled cloth sample bags. Sample bags are transported from the Giant Mining secure warehouse to the ALS Labs Sample Prep Facility in Elko, Nevada. ALS Labs then securely transports the prepared pulps to their analytical lab in North Vancouver, B.C. All samples are analyzed for copper, gold, silver, and 33 other elements. Gold is determined by ALS Labs method Au-AA23 which is a fire assay with an AAS finish on a 30-gram split. Copper, silver, and the remaining 31 elements are determined by ALS Labs method ME-ICP61 which is a four-acid digestion and ICP-AES assay. Approximately 5% of the submitted samples are drill duplicates and copper-gold-porphyry commercial standard reference material pulps. Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by E.L. "Buster" Hunsaker III, CPG 8137, a non-independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects (). About Giant Mining Corp. Giant Mining is focused on identifying, acquiring, and advancing late-stage copper and copper/silver/gold projects to meet the growing global demand for critical metals. This demand is driven by initiatives like the Green New Deal in the United States and similar climate-focused programs worldwide, which require substantial amounts of copper, silver, and gold for electric vehicles, renewable energy infrastructure, and the modernization of clean and affordable energy systems. The Company's flagship asset is the Majuba Hill Copper, Silver, and Gold District, located 156 miles (251 km) from Reno, Nevada. Majuba Hill is situated in a mining-friendly jurisdiction with supportive regulations and has the potential to become one of the next major copper deposits, critical for meeting the increasing need for this red metal. Market Awareness The Company has entered into extended its Agreement with Gold Standard Media, LLC ("GSM") and its affiliates will continue to provide the Company with advertising services including (i) creating landing pages, (ii) digital marketing, (iii) email marketing, and (iv) influencer marketing. The Extension Agreement is for an additional six (6) months to the original term as previously announced on January 10, 2025 in consideration of a payment of up to $400,000 USD. GSM has a business address located at 723 W University Avenue, Georgetown, TX 78626 and can be contacted at +1 512-843-1723 or ceo@ GSM and its principals are arm's length from the Company. The Company shall not issue options or other securities in consideration for GSM's services. The Company further announces that it has engaged the services of 1123963 B.C Ltd. DBA Capitaliz On It ("Capitaliz"), a social media influencer focused digital marketing agency out of Vancouver, BC, to increase investor awareness and interest in the Company as well as attracting new investors through various online platforms and a comprehensive digital media marketing campaign for the Company. Capitaliz has been engaged for a period of three (3) months commencing June 9th, 2025 for USD $90,000. Capitiliz is at arms length to the company and the principal doesn't own any shares of Giant Mining Corp. Capitaliz can be reached by email at charles@ or by phone at 778-237-1431. The Company further announces it has engaged Consultant Feneck Consulting Group, LLC ("Feneck") for certain capital markets, strategic marketing and investor relations services to raise Giant's investor profile . The agreement is effective as of May 20, 2025 and shall continue until November 19, 2025 and may be extended for additional six month increments by the parties' mutual written agreement beginning on November 20, 2025; and (ii) the Company will pay the Consultant cash in the amount of US$15,000 for the period May 20, 2025 to August 19, 2025 and cash in the amount of US$22,500 for the period August 20, 2025 through November 19, 2025. Feneck Consulting Group, LLC can be reached by phone at +1 732-300-5451 and by email at Furthermore, the company announces it has extended its agreement with Plutus Invest & Consulting GmbH ("Plutus") as of May 28th, 2025 for an additional term of two (2) months in consideration for a payment of EUR 160,000 to provide consulting services related to advertising, marketing, PR strategies and investor awareness in the European market. Plutus has a business address at Buchtstr. 13, Bremen 28195, Germany and can be contacted at (email: contact@ or by telephone: (+49 42117540174). Plutus (including its directors and officers) has an arm's-length relationship with the Company. The Company will not issue any securities to Plutus as compensation for its marketing services. Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. On Behalf of the Board of Giant Mining Corp."David Greenway"David C. GreenwayPresident & CEO For further information, please contact:E: info@ 1 (236) Instagram, Facebook, Twitter, LinkedInThis news release contains certain forwardlooking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forwardlooking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forwardlooking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise.
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5 days ago
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Cheechoo Gold Project: Mineral Resource Estimate Update Underway Based on New Model
Montreal, Quebec--(Newsfile Corp. - May 28, 2025) - Sirios Resources Inc. (TSXV: SOI) (OTCQB: SIREF) ("Sirios") is pleased to announce that an update of the Mineral Resource Estimate (MRE) for its flagship Cheechoo Gold Project in Eeyou Istchee James Bay, Québec, is well underway, with results anticipated as soon as this summer. This update is driven by the adoption of a new game-changing geological and structural model that significantly redefines the deposit's potential. A Transformative Geological ModelDeveloped in collaboration with leading consultants in resource modeling and applied structural geology, the new model is grounded in a comprehensive analysis of drilling data and geological structures. This work has uncovered previously unrecognized structural controls on gold mineralization, resulting in a redefinition of key mineralized zones and corridors. An interactive 3D viewer of the new model will be made available on Sirios' website upon publication of the updated MRE. Key Anticipated ImpactsFor the first time, the forthcoming resource estimate is expected to include an underground component—representing a major advancement over the December 2022 estimate. This addition paves the way for expanded resource development through future drilling initiatives. "Our team's dedication over the past year is coming to fruition as we integrate new insights and data into the upcoming Mineral Resource Estimate," stated Dominique Doucet, President and CEO of Sirios Resources. "We are confident that the new estimate will showcase Cheechoo's substantial resource development potential and reinforce its status as a premier gold project in Québec." The MRE update is being conducted by PLR Resources Inc., a trusted geological consulting firm founded by Pierre Luc Richard, a recognized expert in mineral resource estimation who has authored and coordinated more than 100 technical reports under National Instrument 43-101. Livestream Event: May 28To provide further details on developments at the Cheechoo Gold Project and the ongoing resource estimate update, Sirios will host a livestream event later today. Attendees will have the opportunity to ask questions following the presentation. The livestream will be held on Zoom, with sessions offered in both French and English: Webinar in French: 1:00 p.m. (EDT) Webinar in English: 2:00 p.m. (EDT) About the Cheechoo ProjectLocated less than 15 km from Dhilmar Ltd.'s Éléonore gold mine in Quebec's Eeyou Istchee James Bay territory, the Cheechoo Project—100% owned by Sirios—hosts an untapped gold deposit with outstanding potential for expansion and development. The 2022 Mineral Resource Estimate (MRE) reported, for an open-pit model: Indicated resources: 1.4 million ounces at an average grade of 0.94 g/t Au; Inferred resources: 500,000 ounces at an average grade of 0.73 g/t Au. Underground mining scenarios have not been evaluated in this BBA, Mineral Resource Estimate Update for the Cheechoo Project, 23/12/2022 Learn more about Cheechoo at About SiriosSirios Resources Inc. (TSXV: SOI) (OTCQB: SIREF) is a Quebec-based mineral exploration company focused on developing its 100%-owned Cheechoo Gold Project, located in Eeyou Istchee James Bay, Canada. About PLR ResourcesPLR Resources specializes in mineral resource estimates and project evaluations and offers a wide variety of services, from grassroots exploration planning to feasibility studies and mining operation optimization, serving clients that include juniors, major operators as well as financial experts seeking reliable and realistic advice. For more information, please contact:Dominique Doucet, CEO450-482-0603info@ Cautionary note regarding forward-looking statementsThis news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations. estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results. Performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR at Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.-30 - To view the source version of this press release, please visit
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15-05-2025
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Premium Commences Resource Expansion Through Drilling and Comprehensive Metallurgy Optimization at Selkirk
Toronto, Ontario--(Newsfile Corp. - May 15, 2025) - Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) ("PREM" or the "Company") announces that a surface drilling program is underway and provides details of the work program at its past-producing copper-nickel-cobalt-platinum group elements ("Cu-Ni-Co-PGE") sulphide Selkirk mine ("Selkirk Mine") in Botswana. The drilling program is designed to demonstrate resource expansion and metallurgical flowsheet development. These initiatives are aimed at de-risking the project to support future development decisions. Highlights of Selkirk Work Program Drilling program initiated - A 12-hole drill program is underway at Selkirk (Figure 1), focused on twinning historical holes to validate legacy data, adding key data points to support a future resource model update, and resource expansion through continued resampling of historical core (See news release April 10, 2025). Continued resampling of historical core - In 2024, 17 historical drill holes were resampled to obtain complete PGE analysis (See press releases dated October 28, 2024, titled: "Selkirk Deposit Provides Strong Historic Drill Core Results Including 186.25 Metres of 1.65% CuEq"). An additional 34 historical holes have been identified for resampling. Metallurgical program ongoing - Aimed at refining orebody domains and developing a more comprehensive, de-risked metallurgical model reflected in an updated Mineral Resource Estimate ("MRE") and supporting studies. Morgan Lekstrom, CEO of Premium Resources states: "Resampling the historical drill core has proven to be a cost-effective and impactful way to enhance our understanding of the Selkirk deposit. This phase of drilling will prove critical for resource reclassification as we rapidly advance toward restoring the project's legacy resource estimate. We remain focused on accelerating Selkirk and positioning it for near future development." The surface drilling program will collect fresh HQ-sized core to support metallurgical flowsheet, generate material for preliminary X-ray Transmission ("XRT") ore-sorting tests, and support the potential expansion and upgrade of the National Instrument 43-101 ("NI 43-101") compliant 44.2Mt Inferred MRE to the Indicated category (see news release dated November 27, 2024). Historical production at the Selkirk Mine took place between 1989 and 2002 with Anglo American mining high grade Cu-Ni massive sulphides and producing 1 million tonnes at 2.6% Ni and 1.5% Cu. Thereafter, in 2006, LionOre Mining International Ltd. ("LionOre") published a technical report in accordance with NI 43-101 and more recently in 2013, Norilsk Nickel Africa commissioned GiproNickel Institute to calculate an updated mineral resource estimate in accordance with JORC Code (Joint Ore Reserves Committee) that demonstrated a historical resource of 128.4 Mt 0.21% Ni, 0.23% Cu Measured & Indicated / 123.8 Mt 0.17% Ni, 0.19% Cu Inferred (See Historical Estimates). The Company will continue to provide regular updates as drilling activities progress and metallurgical test work advances. Figure 1 and Figure 2 To view an enhanced version of this graphic, please visit: Premium Engages ICP Securities Inc. The Company has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes, which will be paid from the Company's working capital. The agreement between the Company and ICP was signed with a start date of May 15, 2025, and is for four (4) months (the "Initial Term") and shall be automatically renewed for subsequent one (1) month terms (each month called an "Additional Term") unless either party provides at least thirty (30) days' written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation securities issuable in connection with the engagement. ICP presently has no interest, directly or indirectly, in the Company or its securities. ICP and its clients may acquire an interest in the securities of the Company in the future. ICP is an arm's length party to the Company. ICP's office is located at 204 - 251 Queens Quay East, Toronto, Ontario, M5A 0X3. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities. The appointment of ICP is subject to approval by the TSX Venture Exchange. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a "qualified person" for the purposes of National Instrument 43-101. Technical Report The Mineral Resource Estimate on the Selkirk Mine is supported by the technical report entitled "NI 43-101 Technical Report Selkirk Nickel Project, North East District, Republic of Botswana", dated November 1, 2024 (with an effective date of January 10, 2025) (the "Technical Report") prepared by SLR Consulting (Canada) Ltd. for PREM. Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein, a copy of which is available on SEDAR+ ( under PREM's issuer profile. Historical Estimates Certain of the mineral resource estimates referred to in this release are historical in nature and should not be relied upon as a current mineral resource estimate. While management believes that these historical mineral resource estimates could be indicative of the presence of mineralization on the Selkirk Mine property, a "qualified person" (for purposes of NI 43-101) has not completed sufficient work to classify the historical mineral estimates as a current mineral resource estimates and the Company is not treating the historical mineral estimates as current mineral resource estimates. About Premium Resources Ltd. PREM is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines owned by the Company in the Republic of Botswana. PREM is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our skilled team has worked over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re-engineering experience on projects like the Company's Selebi and Selkirk mines. PREM's senior team members have on average more than 20 years of experience in every single aspect of mine discovery and development, from geology to operations. For further information about Premium Resources Ltd., please contact: Morgan LekstromCEO and Directormorganl@ Jaclyn RuptashVice President, Communications and Investor Relationsjaclyn@ Cautionary Note Regarding Forward-Looking Statements This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selkirk Mine as currently contemplated; the anticipated ability of exploration activities (including drill results) to accurately predict mineralization; the timing of release of assay results; the timing and ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally, including metallurgical flowsheet development and preliminary XRT ore-sorting tests; the goal of the Company to define additional or upgrade existing mineral resource estimates on the Selkirk Mine in accordance with NI 43-101; the results of the exploration program at the Selkirk Mine and the timing and disclosures of the Company regarding same; the benefits of the Company's approach to exploration; and management's belief that the historical resource estimates disclosed in this news release could be indicative of the presence of mineralization on the deposits. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; the risk that the Company will not be able to advance the Selkirk Mine as currently contemplated; the risk that the Company will not be able to define additional or upgrade existing mineral resource estimates on the Selkirk Mine in accordance with NI 43-101; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public disclosure record on SEDAR+ ( under PREM's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Follow UsX: Linked in: Facebook: Figure 1: Location of planned drill holes To view an enhanced version of this graphic, please visit: Figure 2: Selkirk Mining License To view an enhanced version of this graphic, please visit: To view the source version of this press release, please visit
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16-04-2025
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Prospect secures $9.5m from First Quantum for Mumbezhi Copper Project in Zambia
Prospect Resources has signed a strategic investment agreement with copper miner First Quantum Minerals (FQM) to raise approximately A$15.2m ($9.5m) in equity with the placement of 101.06 million new shares at A$0.15 each. FQM will become a 15% shareholder in the company and serve as a key technical partner in the future exploration and advancement of the Mumbezhi Copper Project in Zambia. With this investment, First Quantum secures the right to nominate a board member. First Quantum's expertise in copper mining and processing in Zambia, evidenced by its operations at the Sentinel and Kansanshi copper mines, will be valuable to Prospect as Mumbezhi is situated in a similar geological environment to Sentinel, according to Prospect. Prospect is set to commence its phase two drilling programme at Mumbezhi in the second quarter of 2025 (Q2 2025) to expand the mineral resource estimates and explore new regional targets. Prospect managing director and CEO Sam Hosack said: 'Bringing First Quantum into the fold as both a strategic cornerstone shareholder and technical partner offers exceptional value-accretive opportunities for both parties. 'Gaining access to First Quantum's breadth of regional expertise to complement our current multi-disciplinary exploration strategy, Prospect is well placed to continue identifying further regional prospects, make targeted new discoveries and add potential new copper tonnage to the existing Mumbezhi Mineral Resource estimate at a far greater rate.' In addition to the FQM strategic investment, Prospect will raise approximately A$2.8m in new equity proceeds funding from Eagle Eye Asset Holdings with a placement of 18.86 million new shares. Eagle Eye will maintain its 15.3% shareholding in Prospect through its subscription agreement. The combined funds raised from both investments, subject to shareholder approval, will bolster Prospect's working capital and support ongoing activities at Mumbezhi. Azure Capital acted as the financial adviser for Prospect on these strategic investments, with King & Wood Mallesons providing legal counsel. Hosack added: 'We look forward to working closely with First Quantum with the ongoing support of Eagle Eye in targeting the next world-class copper asset in Zambia and in doing so making a material contribution to the Zambian strategy 2031 to produce three million tonnes of copper.' In March 2025, First Quantum's Cobre Panama mine initiated steps to suspend arbitration proceedings against Panama. "Prospect secures $9.5m from First Quantum for Mumbezhi Copper Project in Zambia" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
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25-03-2025
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Giant Mining Corp. Announces Drilling Underway at Majuba Hill Copper-Silver-Gold Deposit in Nevada, USA
VANCOUVER, BRITISH COLUMBIA - March 25, 2025 (NEWMEDIAWIRE) - Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) ("Giant Mining" or the "Company") is pleased to announce that core drilling is underway at its flagship Majuba Hill Porphyry Copper Project ("Majuba Hill") in Pershing County, Nevada. The first drill hole, MHB-32, has commenced with the primary objective of expanding known zones of copper mineralization and advancing toward a new Mineral Resource Estimate ("MRE"). The 2025 Core Program has been designed to follow up on high-grade copper mineralization intersected in breccias from the 2024 core holes MHB-30 ("MHB-30") and MHB-31 ("MHB-31") and extend the high-grade copper zones below the historic underground workings. David Greenway, CEO of Giant Mining, commented: "We are excited to begin drilling at Majuba Hill as we advance the project toward an updated resource estimate. The scale and potential of this system continue to impress, and this phase of drilling is critical in unlocking further value for our shareholders. It's also worth noting that copper is currently trading at approximately $5.12 per pound, significantly higher than during our last drill program when prices were under $4.00. This increase enhances the in-situ value of our mineralized rock year over year and reinforces the importance of advancing exploration at Majuba Hill at this pivotal time." The planned drill program includes up to 4 holes totaling 4,400 feet (1,340 meters) within the current exploration target area at Majuba Hill. A minimum of 2,600 feet (792 meters) will be drilled under the existing contract, with no maximum limit, allowing for flexibility based on results. Each hole is initially planned to a depth of 1,100 feet (335 meters), with the potential to extend to 1,600 feet (487 meters) if mineralization continues at depth. As previously reported in the March 17, 2025 News release, the drill hole targets were developed through a collaborative effort between Giant Mining and Exploration Technologies ("ExploreTech"). ExploreTech was engaged to apply its proprietary Engine AI artificial intelligence and cloud computing platform to analyze the planned core drilling program. The platform focused on identifying breccia zones and large low-resistivity anomalies. This collaboration leveraged Giant's extensive geophysical and drilling database to generate high-priority targets with greater precision. E.L. "Buster" Hunsaker, Senior Consulting Geologist, added: "We're drilling MHB-32 into the heart of the porphyry system. Based on previous data and alteration patternsparticularly the breccias observed in 2024 core holes MHB-30 and MHB-31we believe this hole will further define the mineralized zone and potentially confirm deeper extensions of the copper system at Majuba Hill." Figure 1: Drill Team and Equipment on Site for 2025 Drill Program The Company will provide regular updates as the drill program progresses, including assay results, geological observations, and any significant developments encountered during drilling. These updates will keep shareholders and stakeholders informed on the advancement of the Majuba Hill project and its potential to support a future resource estimate. Click Here to see Figure 2: Majuba Hill 2025 Proposed Drill Hole Locations Majuba Hill's critically important characteristics are as follows: Location: Nevada The #1 mining jurisdiction on the planet according to the Fraser Institute Project Size: 9,684 Acres Infrastructure: The Majuba Hill property is 113 road km (70 miles) southwest of Winnemucca, Nevada, and 251 km (156 miles) northeast of Reno. Access is by well-maintained county roads from the Imlay, Nevada exit on U.S. Interstate 80, and traveling westward 23 miles. People, Roads, Power and Water are the basic elements when considering infrastructure and Majuba Hill already has a solid infrastructure foundation for building a large facility which will provide significant savings compared to more remote projects History: Historical Producer Drilling: 83,930 feet of drilling to date. Rough replacement value of drilling USD $10.4 Million in development costs. Mineralization: The project shows indications of a potentially large Cu Ag +/- Au mineralized body with many features in common with both large porphyry copper, silver, and gold projects. Expandability: The IP survey, deep drilling, and step-out drilling indicate significant expansion potential, with mineralization open in all directions. Fully Financed: Secured funding for 2025 Drilling Campaign Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by E.L. "Buster" Hunsaker III, CPG 8137, a non-independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43- 101"). About Giant Mining Corp. Giant Mining Corp. is focused on identifying, acquiring, and advancing late-stage copper and copper/silver/gold projects to meet the growing global demand for critical metals. This demand is driven by initiatives like the Green New Deal in the United States and similar climate-focused programs worldwide, which require substantial amounts of copper, silver, and gold for electric vehicles, renewable energy infrastructure, and the modernization of clean and affordable energy systems. The Company's flagship asset is the Majuba Hill Copper, Silver, and Gold District, located 156 miles (251 km) from Reno, Nevada. Majuba Hill is situated in a mining-friendly jurisdiction with supportive regulations and has the potential to become one of the next major copper deposits, critical for meeting the increasing need for this red metal. Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. On Behalf of the Board of Giant Mining Corp. "David Greenway"David C. GreenwayPresident & CEO For further information, please contact:E: info@ 1 (236) 788-0643 Instagram, Facebook, Twitter, LinkedInThis news release contains certain forwardlooking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forwardlooking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forwardlooking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise. View the original release on Sign in to access your portfolio
