Latest news with #MineralResources
West Australian
12 hours ago
- Business
- West Australian
WA lithium miners recover $6 billion of value as prices spike on Chinese regulatory probe
WA's beaten-down lithium stocks have recovered more than $6 billion in value as the battery metal's price spike raises hopes that a lingering global glut weighing on the sector could finally be diminishing. Mineral Resources and PLS shares have regained more than 50 per cent over the past four weeks, and Liontown Resources and IGO nearly 40 per cent, since speculation of production cutbacks in China lifted lithium prices off last month's lows. Futures covering the lithium-rich spodumene produced by the quartet have bounced as much as 29 per cent to $US790 ($1200) a tonne, still well short of the $US1100/t it was fetching 13 months ago but a considerable improvement on its bottom of $US605/t in the first week of June. Battery-grade lithium carbonate has added more than 10 per cent. 'Lithium prices have rallied strongly from June lows, with the market showing signs of supply response amid regulatory tightening, plus strong demand' for Chinese electric vehicles, Morgan Stanley analysts said. The price surge has blindsided analysts, demonstrated by Goldman Sachs' sell recommendation on Liontown on July 16 when the stock closed at 83¢. The owner of the new Kathleen Valley lithium mine has since hit a high of $1.03, closing on Friday 2¢ off at 94¢. Likewise, Mineral Resources was trading at $30.90 when Morgans advised clients on Tuesday to reduce their holdings. The shares finished at $32.29 on Friday to be up 60 per cent over the past month. The spodumene price jump is attributed to a regulatory crackdown on non-compliant miners in China that began with local authorities in the western province of Quinghai ordering mid-tier lithium producer Zangge Mining to immediately suspend production on suspicion it was breaching its mining licence. The probe has since extended to other miners that may have been exploiting lithium as a byproduct without the proper approvals. The focus has now reportedly switched to Yichun where miners of lepidolite, a crystal known for high lithium content, have been ordered to re-submit mining documents, raising the prospect of production cutbacks. UBS said 'most of the lepidolite mines are registered under ceramic clay instead of lithium', meaning most would need to reapply for permits to avoid closure. 'The lithium market should re-balance if lepidolite mine closures happen, supporting lithium and spodumene back towards an upward trajectory,' UBS said. Citi said investors were showing more interest in lithium in recent months, but noted the rally in lithium futures is likely 'sentiment-driven' on expectations of supply cuts in China or elsewhere. It cited investor questions on a recent Asian tour around 'the likelihood of supply curtailments from WA'. Citi said the latter was 'unlikely'. PLS shares closed one per cent better at $1.92 on Friday to be up 54 per cent over the past four weeks. IGO, which fell 2¢ to $5.34, has added 35 per cent over the same period.
News.com.au
15 hours ago
- Business
- News.com.au
Monsters of Rock: Whatcha gonna do when LITHIUMANIA runs wild on you
Lithiumania rises as spod prices hit three month high Rare earths stocks see valuations lift on NdPr price moves ASX 300 mining and metals index surges ~5% this week The reality TV stars of the early 2000s are beginning to go the way of the dodo, after Hulk Hogan joined Ozzy Osbourne on the celebrity obituary list overnight. Like most of the superstars of that era, the Hulkster has a spotty history. His electrifying personality put American pro wrestling on the global map, but he alienated peers and spent years effectively banished from public life for a racist slur. Yet, for better or worse, the slogans, theme songs and Rocky III will live on forever. None more so than Hulkamania, the enduring phrase that can be applied to pretty much any trend (if Heinrich Heine didn't get there first with Lizstomania which, of course, he did). So we're taking a tiny bit of ill-gotten inspiration from the big, morally dubious man, or Sofia Coppola's husband's four-piece Phoenix, for today's descent into LITHIUMANIA. Spodumene prices have made a radical comeback on a wave of mine closures in China where local authorities appear to be carrying out the CCP's will to trim competition that has driven heavy corporate losses outside integrated battery and car majors CATL and BYD. We're now at US$810/t, levels not seen since April, after spod followed a massive +8% rise in futures in the Chinese market yesterday. Incredible! At the close of trading today, the average #lithium carbonate futures price increased by 8.29% (the largest interday percentage change since 02/29/24), surpassing the average spot LC price by CNY 6,671 (the largest contango since 03/06/25). A boom in market sentiment! â€' Juan Carlos Zuleta (@jczuleta) July 24, 2025 Profit-taking has sucked some heat out of the local names, with Pilbara Minerals (ASX:PLS), Mineral Resources (ASX:MIN), IGO (ASX:IGO) and Liontown Resources (ASX:LTR) all down. But over the past month the gains have been promising. Liontown Resources (ASX:LTR) is up 37%, with IGO (ASX:IGO) +34%. Pilbara Minerals (ASX:PLS) has gained close to 50%, while Mineral Resources (ASX:MIN), also supported by a rising iron ore price, is close to 60% higher, bouncing off lows caused by weak lithium prices, balance sheet concerns and governance issues circling MD and founder Chris Ellison. Lithium carbonate prices also leapt up, according to PRA Fastmarkets, with the key battery chemical rising US$250/t to US$8800/t. We'll see if this holds up, but enthusiasm for the beaten down battery metals space is certainly returning. Rare earthers Now for rare earthers, another segment of the market where sentiment has been driving gains. NdPr prices have surged since the announcement of a deal between the Department of Defense and US miner and refiner MP Materials. The arbitrage between the US$110/kg price the US Government will offer the owner of the Mountain Pass mine and the Chinese benchmark (~US$60/kg before the news a fortnight ago) has begun to close. Yesterday saw a 6.4% move in Chinese markets to US$73.6/kg, US$65.12/kg with value added tax excluded. Analysts are more bullish now on the large rare earths stocks. Canaccord upgraded Iluka Resources (ASX:ILU) from hold to buy and lifted its price target from $4.40 to $5.85 a share this week, noting not only that mineral sands production of 150,000t for the June quarter was well ahead of consensus (130,000t), but also that the MP Materials deal had provided a price signal that de-risked its Eneabba rare earth refinery. "We have revised our modelling for JunQ actuals and revise our LT mineral sands pricing in line with consensus. Additionally, we have de-risked our Eneabba project NPV on an improved REE pricing outlook, the net impact seeing our SOTP-based target price increase to A$5.85/sh (from A$4.40/sh)," Canaccord's Reg Spencer and William Jones said. Iluka has spent ~$570m on construction so far at the $1.8bn Eneabba project, which is backed with a big fat government loan. Reporting its June quarter on Thursday, market leader Lynas (ASX:LYC) reported its first quarter producing more than 2000t of NdPr oxide, delivering 2080t (total 3212t), with first production also in the quarter of heavies terbium and dysprosium oxide. Sales receipts climbed from $124.6m to $152.7m and sales revenue rose 38% to $170.2m. At $60.2/kg, Lynas enjoyed its highest average selling price since the middle of 2022, though cash and short term deposits dropped from $268.9m to $166.4. Speaking to analysts yesterday, Lynas MD Amanda Lacaze was bullish on the MP Materials deal's potential to grow the rare earths market outside China. "I think that it has sent a clear message about the determination of the US government to rebuild this sector outside China. And that certainly has a couple of different benefits," she said. "One is it gives end users confidence to formulate material. I know that over many years, there have been end users who've said, well, gee, we need to invest in alternate technologies because of the supply chain risks associated with rare earths only coming from China. So I think we see a more vibrant and a more buoyant market, generally speaking. And I think that, that will underpin increasing -- increases in the price. "Can (NdPr) go above $110? Yes. And I think if you read the detail of the deal, that there would be an expectation from the US government that that is likely to happen because they've negotiated ... a share of any upside over the $110 as part of their agreement." Lacaze also attributed a recent run-up in prices to growing demand inside China, noting the Asian Metal price had gone up 12-13 bucks a keg in the past month. Canaccord moved from buy to hold to Lynas on valuation, but lifted its price target from $8.80 to $9.65 on improving market conditions. Lynas shares have lifted 18% in the past month to $10.70, while Iluka's have run a mad 57% to $5.46. There were a whole heap of gold stocks on the reporting roster this week as well. But ... we may just leave it for Gold Digger this afternoon to get stuck into them. The ASX 300 Metals and Mining index rose 4.96% over the past week. Which ASX 300 Resources stocks have impressed and depressed? Making gains Coronado Global Resources (ASX:CRN) (coal) +45.5% Patriot Battery Metals (ASX:PMT) (lithium) +38% Pantoro (ASX:PNR) (gold) +25.2% Pilbara Minerals (ASX:PLS) (lithium) +21.1% Eating losses Bellevue Gold (ASX:BGL) (gold) -4.4% Regis Resources (ASX:RRL) (gold) -4.2% Capricorn Metals (ASX:CMM) (gold) -3.3% Westgold Resources (ASX:WGX) (gold) -2.7% Coronado shares have lifted over the past week after The Australian reported Indian steelmaker JSW was close to nabbing a stake in its Curragh coal mine in Queensland, with cost control also improving in the debt-laden coal miner's recent quarterly. Shares mysteriously lifted over 17% on Friday. Patriot ran higher on both lithium's price run and the announcement of the world's largest pollucite hosted caesium resource at its Shaakichiuwaanaan project in Quebec. The project already contains North America's biggest hard rock lithium deposit. Pantoro produced 25,417oz, hitting the upper half of quarterly guidance for its Norseman gold mine. The project is finally producing real cash, with PNR building an additional $43.3m in cash and gold in the quarter on all in sustaining costs of $1991/oz, with EBITDA of $80.4m powering full year EBITDA to $196.4m. Guidance of 100-110,000oz at $1950-2250/oz has been set for FY26, with $55m of exploration – 250,000m of drilling including over salt lakes unexplored since Western Mining owned the ground in the 1990s – and $67m of growth capital on the cards. Iron ore prices have pulled the broader index higher, falling from recent highs of US$105/t to US$103.20/t in Singapore on Friday.
National Post
a day ago
- Business
- National Post
Mineros Announces Initial Mineral Resource Estimate for the Guillermina Deposit at its Hemco Property, Nicaragua
Article content (all dollar amounts are expressed in U.S. dollars) Article content Article content The Guillermina Deposit (' Guillermina ') initial Mineral Resource estimate comprises: Indicated Mineral Resources: 1,286 thousand tonnes (kt) averaging 0.71 g/t Au, 23.3 g/t Ag, 6.60% Zn, and 3.13 g/t gold equivalent 1 (AuEq), containing 30 thousand ounces (koz) Au, 962 koz Ag, 187 million pounds (Mlb) Zn, and 129 koz of AuEq. Inferred Mineral Resources: 1,286 kt averaging 1.32 g/t Au, 30.2 g/t Ag, 5.73% Zn, and 3.66 g/t AuEq, containing 55 koz Au, 1,250 koz Ag, 162 Mlb Zn, and 152 koz AuEq. Guillermina is open, both laterally and to depth, with excellent potential for the delineation of additional zones of mineralization as exploration continues. Guillermina presents a promising opportunity that could significantly contribute to the future development of the Porvenir Project. Article content MEDELLIN, Colombia — Mineros S.A. (TSX:MSA, MINEROS:CB) (' Mineros ' or the ' Company') is pleased to report an initial Mineral Resource estimate on Guillermina, a polymetallic vein system associated with hydrothermal breccias located three kilometers north of the Porvenir Project, forming part of its Hemco Property in Nicaragua (Figure 1). Article content 'We are pleased to have reached this milestone at Guillermina, one of several key targets in our portfolio of organic growth projects,' stated David Londoño, President and CEO of Mineros. 'We are advancing Guillermina and other early- to advanced-stage targets across our highly prospective Hemco Property landholdings. This deposit represents an exciting opportunity that could play an important role in the Porvenir Project's future development. As we move forward, we will continue to explore Guillermina with the aim of expanding and upgrading this initial Mineral Resource,' Mr. Londoño added. Article content Guillermina is located on the Hemco Property in the Mining Triangle district centered around the towns of Bonanza, Rosita and Siuna in northeastern Nicaragua and is situated approximately four kilometres west of the Pioneer Mine. It consists of a 1.8 km vein system oriented at an azimuth of 245° with notable anomalies in gold, silver, and zinc. The mineralization system includes an assemblage of hydrothermal breccias, stockwork, and veinlets up to 20 m in thickness, with a crustiform to colloform-banded quartz chalcedony-adularia matrix. The breccia matrix contains galena, sphalerite, and hematite occurring in patches and bands throughout. Article content Guillermina Deposit Mineral Resource Statement (effective March 31, 2025). Article content Classification Cut-Off Tonnes NSR Grade Contained Metal Indicated $82.50/t 1,286 142 0.71 23.3 6.60 3.13 30 962 187 129 Inferred 1,286 155 1.32 30.2 5.73 3.66 55 1,250 162 152 Mineral Resource reporting notes: Mineral Resources are classified according to the Canadian Institute of Mining Metallurgy and Petroleum's 'CIM Definition Standards for Mineral Resources and Mineral Reserves' adopted on May 10, 2014 (the ' CIM Standards '). The Mineral Resources have been reported within underground reporting shapes generated with Deswik Stope Optimizer using a net smelter return (' NSR ') cut-off value of $82.50/t and a minimum mining width of 1.0 m. Material within 30 m of the topographic surface has been excluded from the Guillermina Mineral Resources to allow for artisanal mining. Mineral Resources are estimated using a long-term gold price of $1,700/oz Au, a silver price of $20/oz Ag, and a zinc price of $1.36/lb Zn. Metallurgical recoveries are applied on a block-by-block basis with an average of 85.5% for gold, 30.7% for silver, and 91.0% for zinc. The NSR $/t value for each block was calculated using the following NSR factors: – $53.12 g/t Au x gold recovery – $0.41 g/t Ag x silver recovery – $1,755.54 % Zn x zinc recovery The formula used to calculate the AuEq grade is Au g/t + (Ag g/t * silver AuEq factor) + (Zn% * zinc AuEq factor), where: silver AuEq factor = (0.41 * silver recovery) / (53.12 * gold recovery) zinc AuEq factor = (1,755.54 * zinc recovery) / (53.12 * gold recovery) Average bulk density is 2.71 t/m 3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Mineral Resource estimate assumes underground mining and extends from surface to a depth of 400m. Numbers may not add or multiply due to rounding. Article content Building on drilling results from the Neptuno Company in the 1970s, Hemco carried out a drilling campaign at Guillermina in 2011 and 2012, aiming to identify new gold deposits. The campaign consisted of 1,070 m across seven drill holes, revealing significant zinc anomalies as well as low-grade gold and silver anomalies. Article content Recognizing the potential for polymetallic mineral production at the Porvenir Project, the Company initiated a reconnaissance diamond drilling campaign in 2022, completing 887 m across seven drill holes. This initial campaign confirmed the depth and continuity of the deposit. The drilling delineated a central extension of a mineralized structure hosting galena, sphalerite, and chalcopyrite, with thicknesses ranging from two metres to 15 m. Article content Following positive results from the previous campaign, drilling efforts in 2023 focused on confirming the extensions of the mineralization, with 11 holes drilled for a total of 1,898 m. By 2024, the campaign advanced to infill drilling to improve the definition of mineralization, with 6,498 m drilled across 40 holes. The core of the mineralized vein was drilled at approximately 50 m spacing. Article content The initial Mineral Resource estimate on Guillermina includes the results of 9,798 m in 61 diamond drill holes completed between 2011 and August 2024 (Figure 2). Grades were constrained with three-dimensional (3D) wireframes of the principal mineralized vein and interpolated by the inverse distance cubed (ID 3) method into a block model with parent blocks of 2 m by 2 m by 2 m and sub-blocks of 1 m by 1 m by 1 m. The classification of solids was based on drill hole spacing, with distances less than 50 m classified as Indicated Mineral Resources and distances less than 100 m classified as Inferred Mineral Resources. Article content An NSR value was assigned to blocks to validate the geological interpretation and for resource reporting. NSR represents the estimated dollar value per tonne of mineralized material after accounting for smelter terms, including revenues, treatment and refining charges, penalties, smelter losses, transportation, and sales charges. The NSR calculation is based on metallurgical testing at the Porvenir Project, using comparable smelter terms and data collected by the Company. These assumptions depend on the processing scenario and may vary with further metallurgical testwork. Key assumptions, including preliminary metallurgical recoveries, are detailed in Table 2. Article content Standard smelting and refining charges were applied to the various concentrates. It was assumed that the concentrates would be marketed internationally. NSR factors are summarized in Table 3. Article content Table 3. Article content Mineral Resource NSR Factors Article content The NSR value is assigned to blocks using the following equation: Article content NSR TOTAL = Grade Au (g/t) Article content * Rec Au (%) * 53.12 Article content (US$/g) Article content + Article content Grade Ag (g/t) Article content * Rec Ag (%)0.41 Article content (US$/g) Article content + Article content Grade Zn Article content (%) * Rec Zn (%) 1,755.54 Article content (US$/t) Article content A bench and fill mining method was evaluated for Guillermina, applying the parameters that were used for the Porvenir Project (Table 4). An NSR cut-off value was established by estimating the total unit operating cost, which included mining, processing, power, and general and administrative expenses, resulting in total operating cost of approximately $82.50 per tonne of mineralized material. Article content Table 4. Article content Notes: Article content All costs include G&A. Numbers may not add due to rounding. Article content For the purposes of demonstrating reasonable prospects for eventual economic extraction, Mineral Resources are constrained within underground reporting shapes generated in Deswik Stope Optimizer (DSO) using a minimum mining width of one metre and an NSR cut-off value of $82.50/t (Figure 3). Article content There are no known legal, political, environmental, or other risks that could materially affect the potential development of Mineral Resources at Guillermina. Article content Mineros has implemented a quality assurance/quality control (QA/QC) program aligned with industry best practices, in which certified reference materials (standards), duplicates, and blanks are routinely inserted into the sample stream to assess precision, accuracy, contamination and bias. All standards, duplicates and blanks are validated and any batches that fail QA/QC are reanalyzed. Article content Diamond drill core samples are selected by geologists on site; sample intervals are typically one metre in length, ranging from a minimum of 0.2 metres to a maximum of two metres. HTW-diameter diamond drill core to be sampled is cut in half lengthwise, with one half of the core stored on-site in wooden core boxes and the other half packed by Mineros geologists in plastic bags with tamper-proof seals, with a chain of custody procedure for delivery to the ALS Peru S.A. ('ALS Global Peru') at its Managua, Nicaragua laboratory for sample preparation. Article content Until March 2023, Mineros used Bureau Veritas in Canada as its primary laboratory, and ALS Global Peru, in Lima, Peru thereafter. Article content Initially, the samples were sent for sample preparation with a chain of custody procedures for delivery to Bureau Veritas. Sample preparation was carried out following the PREP70-250 package (crushing of the entire sample to ≥70% passing 2-mm mesh, pulverization of 250 g ≥ 85% 75 µm. Samples were shipped to Bureau Veritas laboratory in Vancouver, Canada for geochemical analysis. Bureau Veritas is independent of Mineros. Article content Bureau Veritas is accredited to ISO/IEC 17025:2017 by the Standards Council of Canada (' SCC '). Samples, standards, duplicates and blanks are analyzed for gold using a standard fire assay method (30 g aliquot) and atomic absorption finish (AAS). Those over 10 ppm are reanalyzed by 30 g fire assay with gravimetric finish. All samples are analyzed for a 45-element suite, run with an aqua regia digestion and an ICP-ES/MS finish. Article content As of April 2023, the samples were sent for sample preparation with a chain of custody procedure for delivery to ALS Global Peru, at its Managua, Nicaragua laboratory for sample preparation, and subsequently to ALS Global Peru in Lima, Peru for geochemical analysis. Sample preparation is carried out following the PREP31 package (crushing of the entire sample to ≥70% passing 2-mm mesh, pulverization of 250 g ≥85% 75 µm). ALS Global Peru is accredited to ISO/IEC 17025:2017 by the SCC with validation date until 2029-03-01 and is independent of Mineros. Article content Samples, standards, duplicates, and blanks are analyzed for gold using a standard fire assay method (30 g aliquot) and AAS. Assays over 10 ppm are reanalyzed by 30 g fire assay with gravimetric finish. All samples are analyzed for a 51-element suite, using aqua regia digestion and an ICP-ES/MS finish. Article content All coarse rejects and pulps from both labs were returned and stored by the Company in a secure warehouse at the Hemco Property facility. Five percent of pulps are sent to secondary laboratory and analyzed using methods analogous to those at the primary laboratory. Article content NEXT STEPS Article content The 2025 drilling campaign at Guillermina commenced in July 2025 and is in progress with 2,000 meters planned. This program is designed to collect representative samples for metallurgical testing, consistent with the parameters established for the Porvenir Project, and will also serve as infill drilling to upgrade Inferred Mineral Resources to Indicated Mineral Resources. In parallel, Mineros has commenced evaluating potential mining methods and is actively exploring synergies with the Porvenir Project to support the potential expansion of the overall Mineral Resource inventory. Article content ABOUT MINEROS S.A. Article content Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia and Nicaragua and a pipeline of development and exploration projects throughout the region. Article content The board of directors and management of Mineros have extensive experience in mining, corporate development, finance and sustainability. Mineros has a long track record of maximizing shareholder value and delivering solid annual dividends. For almost 50 years Mineros has operated with a focus on safety and sustainability at all its operations. Article content Mineros' common shares are listed on the Toronto Stock Exchange under the symbol 'MSA', and on the Colombia Stock Exchange under the symbol 'MINEROS'. Article content Election of Directors – Electoral Quotient System Article content The Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under Toronto Stock Exchange policies, on grounds that compliance with such requirements would constitute a breach of Colombian laws and regulations which require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to an electoral quotient system. For further information, please see the Company's most recent annual information form, available on the Company's website at and from SEDAR+ at Article content QUALIFIED PERSON Article content Luis Fernando Ferreira de Oliveira, MAusIMM CP (Geo), Mineral Resources and Reserves Manager for Mineros S.A., who is qualified person within the meaning of NI 43-101 supervised the preparation of the information that forms the basis for this news release. Mr. Ferreira has verified the scientific and technical information in this release, including sampling, analytical and test data underlying the initial Mineral Resource estimate on Guillermina, and the opinions expressed herein. Article content In accordance with applicable Canadian securities regulatory requirements, all Mineral Resource estimates disclosed in this news release have been prepared in accordance with NI 43-101 and are classified in accordance with the CIM Standards. Article content Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Pursuant to the CIM Standards, Mineral Resources have a higher degree of uncertainty than Mineral Reserves as to their existence as well as their economic and legal feasibility. Inferred Mineral Resources, when compared with Measured or Indicated Mineral Resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Pursuant to NI 43-101, Inferred Mineral Resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a Mineral Resource exists, will ever be converted into a Mineral Reserve, or is or will ever be economically or legally mineable or recovered. Article content FORWARD-LOOKING STATEMENTS Article content This news release contains 'forward looking information' within the meaning of applicable Canadian securities laws. Forward looking information includes statements that use forward looking terminology such as 'may', 'could', 'would', 'will', 'should', 'intend', 'target', 'plan', 'expect', 'budget', 'estimate', 'forecast', 'schedule', 'anticipate', 'believe', 'continue', 'potential', 'view' or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward looking information includes, without limitation, statements with respect to the estimate of Mineral Resources, the results of metallurgical studies being conducted; exploration and testing plans; future expansion and upgrading of Mineral Resources; the economic viability of the Porvenir Project and Guillermina; and future development to the Porvenir Project. Article content Forward looking information is based upon estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Article content For further information of these and other risk factors, please see the 'Risk Factors' section of the Company's annual information form dated March 25, 2024, available on SEDAR+ at Article content The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained herein. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Article content Article content Article content Article content Article content Contacts
Hamilton Spectator
a day ago
- Business
- Hamilton Spectator
NexGold Continues to Intersect High-Grade Gold Mineralization at the Goldboro Open Pit Gold Project, Including 108.76 g/t Au over 1.40 metres and 67.23 g/t gold over 2.20 metres
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) ('NexGold' or the 'Company') is pleased to provide additional drill results from a recently-completed 26,854-metre diamond drill program initially announced on January 22, 2025 at the Company's Goldboro Open Pit Gold Project ('Goldboro') in Nova Scotia. The drill program is primarily designed to infill specific areas of the open pit Mineral Resource identified to improve geological and grade continuity and potentially upgrade certain areas of Inferred and Indicated Mineral Resources. The assay results for an additional 11 infill diamond drill holes (BR-25-566 to 569, BR-25-571 to 573, 577, 578, 582, and 590), totalling 1,944.05 metres, were from drilling in the proposed west and east pits (Figures 1 and 2; Tables 1 and 2). Kevin Bullock, President and CEO, stated: ' We continue to see high-grade gold assays from both the East and West Goldbrook open pit domains and the assays continue to be generally consistent with our Mineral Resource model at Goldboro. The numerous high grade intersections and confirmatory drilling bode well for the Mineral Resource update currently being prepared.' Selected drill intersections from the 11 diamond drill holes in this news release are further detailed in Table 2 and include: The Company has now released assay results for 111 drill holes (approximately 79%) from the infill program. Results from the drill program, to date, continue to demonstrate the presence of mineralization that is consistent with previous drill results in the proposed west and east pits. In particular, the existing geological model appears to broadly predict the location of gold mineralization with local adjustments to the model where mineralization is either not in the exact positions predicted by the model or if no mineralization is intersected. Significantly, the drill program continues to intersect additional gold mineralization in areas where mineralization was previously unknown or predicted. This occurs either in under-drilled areas or near historic drilling which were more selectively sampled. Mineralized solids will be adjusted where necessary to account for local variations in the model, and any impact due to additional assay data gathered during the drill program will be investigated during the forthcoming Mineral Resource Estimate planned for H2 2025. Figure 1: Plan map showing the location of diamond drill holes BR-25-566, 568, 569, 571 to 573, 578 and 590 along with highlights' assays in the proposed East Pit, Goldboro Gold Deposit Figure 2: Plan map showing the location of diamond drill holes BR-25-567, 577 and 582 along with highlights assays in the proposed West Pit, Goldboro Gold Deposit Notes: Notes: QA / QC The Company has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the CIM Exploration Best Practices Guidelines. The NQ diameter drill core is sawn in half with one-half of the core sample dispatched to either Eastern Analytical Ltd. (Eastern) preparation facility in Springdale, Newfoundland and Labrador or the ALS Canada Ltd. (ALS) prep lab in Moncton, NB and then the pulp is sent to North Vancouver, BC for fire assay. The other half of the core is retained for future assay verification and/or metallurgical testing. Analysis for gold was completed by fire assay (30 g) with an AA finish. All assays in this press release are reported as fire assays only. For samples analyzing greater than 0.5 g/t Au via 30 g fire assay, these samples will be re-analyzed at Eastern via total pulp metallics. For the total pulp metallics analysis, the entire sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened to 150mesh. The +150mesh fraction is fire assayed for Au, and a 30 g subsample of the -150mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Total pulp metallics assays for drill holes sited within this news release may be updated in a future news release. Check assays are conducted at Eastern for assay samples received from ALS and check assays are conducted at ALS for assays received from Eastern following the completion of a program. Other QA/QC procedures include the regular insertion of blanks and CDN Resource Laboratories certified reference standards. The laboratory also has its own QA/QC protocols running standards and blanks with duplicate samples in each batch stream for all analysis. Qualified Person Paul McNeill, VP Exploration of NexGold, is considered a 'Qualified Person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure contained in this news release on behalf of NexGold. About NexGold Mining Corp. NexGold Mining Corp. is a gold-focused company with assets in Canada and Alaska. NexGold's Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) is located in Northwestern Ontario and its Goldboro Gold Project is located in Nova Scotia. NexGold also owns several other projects throughout Canada, including the Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. In addition, NexGold holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska. NexGold is committed to inclusive, informed and meaningful dialogue with regional communities and Indigenous Nations throughout the life of all our Projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing of social value, and promoting community wellbeing. Further details about NexGold, including a Prefeasibility Study for the Goliath Gold Complex and a Feasibility Study for the Goldboro Gold Project, are available under the Company's issuer profile on and on NexGold's website at . Contact: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Cautionary Note Regarding Forward-Looking Information This news release contains or incorporates by reference 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of applicable U.S. securities laws. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking information including, but not limited: to information as to the Company's strategic objectives and plans; timing and results of drilling activities; potential for upgrading mineral resources; expected initiatives to be undertaken by management of the Company in identifying exploration opportunities; and timing of advancement and completion of technical studies. Generally, forward-looking information is characterized by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'is projected', 'anticipates' or 'does not anticipate', 'believes', 'targets', or variations of such words and phrases. Forward-looking information may also be identified in statements where certain actions, events or results 'may', 'could', 'should', 'would', 'might', 'will be taken', 'occur' or 'be achieved'. Forward-looking information involve known or unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those projected by such forward-looking statements. Such factors include, among others: the plan for, and actual results of, current exploration activities; expectations relating to future exploration, development and production activities as well as growth potential for NexGold's operations; risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; reliance on third-parties, including governmental entities, for mining activities; the ability of NexGold to complete further exploration activities, including drilling at the Goliath Gold Complex and Goldboro deposits; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of mineral resources, production and cost estimates; health, safety and environmental risks; worldwide demand for gold and base metals; gold price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations; and those factors described in the Management's Discussion and Analysis for the year ended December 31, 2024 of the Company and in the Company's most recent disclosure documents filed under its SEDAR+ profile at . Although management of the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented to assist shareholders in understanding the Company's the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws. Photos accompanying this announcement are available at:
AU Financial Review
2 days ago
- Business
- AU Financial Review
Lithium bull market sends Pilbara Minerals and MinRes rocketing
Australia's beaten-down lithium sector has burst back to life this month amid signs that a lingering glut of the battery material is finally starting to ease, triggering a rush of trading activity. Pilbara Minerals and Mineral Resources – among the most targeted by short sellers on the ASX – have rocketed more than 50 per cent since June. The rally turbocharged by news last week that Chinese producer Zangge Mining was forced to halt production at its Qarhan project after regulators found its mining license was invalid.
