Latest news with #MobileMT
Cision Canada
11-08-2025
- Business
- Cision Canada
SPC Nickel Completes MobileMT Survey and Launches Summer Field Program at the Muskox Cu-Ni-PGM Project, Nunavut
1,020-line km MobileMT electromagnetic survey completed – the first of its kind at the Muskox Project and the first airborne geophysical survey in over 20 years Summer field program launched to conduct detailed geological mapping and sampling of high-priority targets. Results will directly inform the next phase of exploration, including future drilling Expanded land position through strategic staking of an additional 65 km 2 of the most prospective ground in the region SUDBURY, ON, Aug. 11, 2025 /CNW/ - SPC Nickel Corp. (TSX-V:SPC) ("SPC Nickel" or the "Company") is pleased to announce the start of a focused field program at its 100%-owned 496 km 2 Muskox Cu-Ni-PGM Project ("Muskox Project" or the "Project"), located in Nunavut, Canada. This program complements the recently completed property-wide 1,020 line-km MobileMT electromagnetic geophysical ("MobileMT") survey and is designed to further refine priority drill targets in this vast, underexplored copper-nickel-PGM system. SPC Nickel's MobileMT survey, the first of its kind completed over the highly prospective Muskox Intrusion and the first airborne geophysical survey completed in over 20 years on the Project, collected deep-penetrating geophysical data to help map potential conductive targets beneath the Muskox Intrusion (Results pending; see news release here). In preparation for this work, SPC Nickel strategically expanded its land position by staking an additional 65 km², increasing the Muskox Project's total size and further consolidating its control over the most prospective ground in the region. By immediately following up the MobileMT survey with a comprehensive field program, the Company will maximise the seasonal exploration window while efficiently advancing the Muskox Project by aggressively deploying the proceeds from the Company's successful $3.5 million Rights Offering (See news release here). Historical drill results underscore the exceptional mineral potential of the Muskox Intrusion, including: 7.50 metres @ 6.14% Cu, 2.76% Ni and 9.06 g/t PGM (Pt+Pd+Au) 1 by Silvermet Corporation in 2007 and 13.74 metres @ 5.04% Cu, 2.21% Ni and 5.63 g/t PGM 2 by Equinox Resources Ltd. in 1987 Grant Mourre, CEO, said, "With the MobileMT survey providing unprecedented visibility into the mineralizing structures of the Muskox Intrusion, this follow on field program will help us validate and refine targets with surface mapping and sampling. Muskox has all the hallmarks of a major magmatic sulphide system. We are committed to unlocking its potential in a systematic manner by drawing on historic data from our proprietary database and the accumulated knowledge of multiple exploration seasons on site. With the completion of our recent Rights Offering, we are wasting no time putting investors' funds to work to advance this exciting project." During the course of the field program, SPC Nickel's team will conduct detailed geological mapping and sampling high-priority targets. These efforts will enable us to better understand the styles and controls of mineralization associated with the Muskox Intrusion and will directly inform the next phase of exploration, including future drilling. Follow SPC Nickel for real-time logistical updates from the field: LinkedIn: @SPC Nickel Corp X (Twitter): @CorpSpc A detailed overview of the Muskox Project may be found in the project presentation here About the Muskox Intrusion Originally discovered in the 1950s by Inco, SPC Nickel's Muskox Project, located in Nunavut, Canada, represents one of the most prospective greenfield polymetallic copper, nickel, and PGM projects globally. The district-scale land package (496 km 2) covers the majority of the Muskox Intrusion, a large, layered mafic-ultramafic body with striking geological similarities to some of the world's most significant copper-nickel-PGM deposits, such as the massive Norilsk-Talnakh deposit that contains in excess of 28.7 Mt of nickel and 48.9 Mt of copper 3 (reserves and resources, as of January 1, 2025). The Muskox Intrusion is one of the largest and least deformed layered mafic to ultramafic bodies in the world. It was emplaced during a large magmatic event (Mackenzie Magmatic Event) in the Proterozoic by mantle plume volcanism related to the widespread Coppermine River Group flood basalts. The intrusion is broadly composed of two distinct, but related, components called the Main Muskox Intrusion and the Feeder Dyke, which combined are exposed over a length of 125 km, and range in width from 200-600 metres in the Feeder Dyke to 11 km in the Main Body of the intrusion. Previous exploration programs completed over a roughly 60-year period identified widespread high-grade polymetallic sulphide mineralization along the basal contact of the intrusion or in the adjacent footwall, similar to the Sudbury and Norilsk-Talnakh camps. Historical drill highlights from the Muskox Project include: 7.50 metres @ 6.14% Cu, 2.76% Ni and 9.06 g/t PGM (Pt+Pd+Au) 1 by Silvermet Corporation (2007) and 13.74 metres @ 5.04% Cu, 2.21% Ni and 5.63 g/t PGM 2 by Equinox Resources Ltd. (1987). These results, combined with an extensive footprint of magmatic sulfide mineralization, historical high-grade drill intercepts, untested geophysical targets and limited modern follow-up, underscore the Project's exceptional discovery potential. Reference Vivian, Gary (2007). Muskox Project, Nunavut, 2007 Drill and Geophysical Survey Program Annual Report for Prize Mining, Assessment report. 57 p., 8 data Appendices. Page, J.W., Culbert, R.R. and Martin, L.S. (1988). Geochemical, geophysical and diamond drill reports on the Muskox property, NWT. Equinox Resources Ltd. DIAND Assessment report 082562. 56 p., 3 data Appendices. Nornickel Annual Report 2024. Quality Assurance, Quality Control and Qualified Persons The technical elements of this news release have been approved by Mr. Grant Mourre, (PGO), CEO and President of SPC Nickel Corp. and a Qualified Person under National Instrument 43-101. The historical information shown in this news release was obtained from historical work reports filed by Equinox Resources Ltd. and Silvermet Corporation have not been independently verified by a Qualified Person as defined by NI 43 101. About SPC Nickel Corp. SPC Nickel is a Canadian public corporation focused on exploring for high-grade polymetallic Cu-Ni-PGM mineralization in Nunavut and within the world-class Sudbury Mining Camp. SPC Nickel is currently exploring its unique district-scale polymetallic Muskox Project in Nunavut where the team is conducting a field program during the summer of 2025. The Company is also advancing its 100%-owned exploration project Lockerby East located in the heart of the historic Sudbury Mining Camp, which includes the West Graham Resource and the LKE Resource. SPC Nickel is committed to advancing high-potential polymetallic projects in Tier-1 jurisdictions across Canada with an emphasis on Nunavut and Sudbury. Cautionary Note on Forward-Looking Information Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of SPC Nickel. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, SPC Nickel expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Cision Canada
21-07-2025
- Business
- Cision Canada
SPC Nickel Launches Major Airborne Geophysical Survey for Muskox Cu-Ni-PGM Project, Nunavut
SUDBURY, ON, July 21, 2025 /CNW/ - SPC Nickel Corp. (TSXV: SPC) ("SPC Nickel" or the "Company") is pleased to announce that a property wide 1,000 line-km MobileMT electromagnetic geophysical ("EM") survey will commence during the last week of July at SPC Nickel's 100% owned district-scale Muskox Cu-Ni-PGM Project ("Muskox Project" or the "Project") in Nunavut, Canada. The helicopter-borne survey, to be conducted by Expert Geophysics Survey Inc. ("EGS"), will be instrumental in determining the overall three-dimensional shape and morphology of the Muskox Intrusion and for identifying both large conductive regions associated with the basal contact of the Muskox Intrusion and the extensive Keel Zone target, a Voisey's Bay analogue. The survey will be the first of its kind completed over the highly prospective Muskox Intrusion and the first airborne geophysical survey completed in over 20 years on the Project. Historical drill results underscore the exceptional mineral potential of the Muskox Intrusion, including: 7.50 metres @ 6.14% Cu, 2.76% Ni and 9.06 g/t PGM (Pt+Pd+Au) 1 by Silvermet Corporation in 2007 and 13.74 metres @ 5.04% Cu, 2.21% Ni and 5.63 g/t PGM 2 by Equinox Resources Ltd. in 1987 The Keel Zone is interpreted to represent a dynamic geological environment, similar to the Ovoid deposit at the Voisey's Bay Mine, which the Company believes has excellent potential to host high-grade polymetallic (Cu-Ni-PGM) sulphide mineralization. The Keel Zone extends over a strike length of 40 km and represents the intersection point of the Muskox Feeder Dyke with the main Muskox Intrusion. Grant Mourre, CEO and President of SPC Nickel commented," Muskox stands out as one of the last remaining district-scale, underexplored polymetallic systems in a Tier-1 jurisdiction. The scale of the intrusion, the intensity of the mineralization, and the diversity of metal content we're seeing - including copper, nickel, and PGMs - all point to the presence of a very large, highly fertile magmatic system. We are just beginning to scratch the surface of this exciting project. The program announced today builds on our previous work at Muskox and will, alongside our comprehensive proprietary database, contribute to a robust geological model that supports the potential for a globally significant polymetallic discovery in Canada's north." MobileMT Geophysical Survey Expert Geophysics Survey Inc. has been contracted to complete a 1,000 line-km MobileMT EM geophysical survey spanning the entire claim block covering the main Muskox Intrusion. The survey will be conducted at 200 metre line spacing in the southern half of the claim block and 500 metre spacing in the northern half. MobileMT uses naturally occurring electromagnetic fields in the frequency range of 25 Hz – 20,000 Hz to map the variations in the electrical conductivity of the subsurface. MobileMT is the most advanced generation of airborne audio-magnetotelluric survey that combines the latest achievements in electronics, advances of modern airborne system design, and sophisticated signal processing techniques. MobileMT is capable of delivering geoelectrical information from shallow to >1 km depth range with high spatial and resistivity resolution. The MobileMT system detects resistivity contrasts of geology structures and boundaries of any shape and in any direction due to total field (three-component) measurements. Shareholder Rights Offering – Update SPC Nickel reminds shareholders that the Company's ongoing rights offering (See news release here) closes on July 25, 2025, at 5:00 pm Toronto time. As a shareholder of record on June 24, 2025, you should have received a notice and subscription form from your broker or intermediary regarding your rights. If you hold your shares in a brokerage account and haven't received anything yet, we encourage you to reach out to your advisor or platform as soon as possible. Offering Terms Shareholders received 0.906482950 rights for each SPC Nickel share held; Each 1 right entitles the holder to purchase 1 common share at a price of $0.02; and Shareholders who fully exercise their rights may subscribe for additional shares under the Additional Subscription Privilege, subject to availability Key Dates to Remember Record Date: June 24, 2025 Rights Expiry Date: July 25, 2025, at 5:00 p.m. (Toronto time) - this is the deadline to act Trading Period for Rights: June 24 - July 25, 2025 (until 12:00 p.m. Toronto time) on the TSX Venture Exchange under the symbol The proceeds will be used to support ongoing exploration activities, including work at SPC Nickel's flagship Muskox Project. About the Muskox Intrusion Originally discovered in the 1950s by Inco, SPC Nickel's Muskox Project, located in Nunavut, Canada, represents one of the most prospective greenfield polymetallic nickel, copper, and PGM projects globally. The district-scale land package (470 km 2) covers the majority of the Muskox Intrusion, a large, layered mafic-ultramafic body with striking geological similarities to some of the world's most significant nickel-copper-PGM deposits, such as the massive Norilsk-Talnakh deposit that contains in excess of 28.7 Mt of nickel and 48.9 Mt of copper 3 (reserves and resources, as of January 1, 2025). The Muskox Intrusion is one of the largest and least deformed layered mafic to ultramafic bodies in the world. It was emplaced during a large magmatic event (Mackenzie Magmatic Event) in the Proterozoic by mantle plume volcanism related to the widespread Coppermine River Group flood basalts. The intrusion is broadly composed of two distinct, but related, components called the Main Muskox Intrusion and the Feeder Dyke, which combined are exposed over a length of 125 km, and range in width from 200-600 metres in the Feeder Dyke to 11 km in the Main Body of the intrusion. Previous exploration programs completed over a roughly 60-year period identified widespread high-grade polymetallic sulphide mineralization along the basal contact of the intrusion or in the adjacent footwall, similar to the Sudbury and Norilsk-Talnakh camps. Historical drill highlights from the Muskox Project include: 7.50 metres @ 6.14% Cu, 2.76% Ni and 9.06 g/t PGM (Pt+Pd+Au) 1 by Silvermet Corporation (2007) and 13.74 metres @ 5.04% Cu, 2.21% Ni and 5.63 g/t PGM 2 by Equinox Resources Ltd. (1987) These results, combined with an extensive footprint of magmatic sulfide mineralization, historical high-grade drill intercepts, untested geophysical targets and limited modern follow-up, underscore the Project's exceptional discovery potential. Vivian, Gary (2007). Muskox Project, Nunavut, 2007 Drill and Geophysical Survey Program Annual Report for Prize Mining, Assessment report. 57 p., 8 data Appendices. Page, J.W., Culbert, R.R. and Martin, L.S. (1988). Geochemical, geophysical and diamond drill reports on the Muskox property, NWT. Equinox Resources Ltd. DIAND Assessment report 082562. 56 p., 3 data Appendices. Nornickel Annual Report 2024. Quality Assurance, Quality Control and Qualified Persons The technical elements of this news release have been approved by Mr. Grant Mourre, (PGO), CEO and President of SPC Nickel Corp. and a Qualified Person under National Instrument 43-101. The historical information shown in this news release that was obtained from historical work reports filed by Equinox Resources Ltd. and Silvermet Corporation has not been independently verified by a Qualified Person as defined by NI 43 101. About SPC Nickel Corp. SPC Nickel is a Canadian public corporation focused on exploring for high-grade polymetallic Cu-Ni-PGM mineralization in Nunavut and within the world-class Sudbury Mining Camp. SPC Nickel is currently exploring its unique district-scale polymetallic Muskox Project in Nunavut where the team is conducting a field program during the summer of 2025. The Company is also advancing its 100%-owned exploration project Lockerby East located in the heart of the historic Sudbury Mining Camp, which includes the West Graham Resource and the LKE Resource. SPC Nickel is committed to advancing high-potential polymetallic projects in Tier-1 jurisdictions across Canada with an emphasis on Nunavut and Sudbury. Cautionary Note on Forward-Looking Information Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of SPC Nickel. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, SPC Nickel expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Yahoo
07-07-2025
- Business
- Yahoo
Foremost Clean Energy to Deploy District-Scale MobileMT™ Survey Over its GR and Blackwing Uranium Properties
VANCOUVER, British Columbia, July 07, 2025 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) ("Foremost" or the "Company"), is pleased to announce plans to initiate a district-scale 5,000 line-kilometer MobileMT™ airborne geophysical survey across its GR ('GR') and Blackwing ('Blackwing') Uranium Properties, located in the world-renowned Athabasca Basin region of northern Saskatchewan. The survey, to be conducted by Expert Geophysics Surveys Inc, is designed to detect deep conductive structures prospective for hosting high-grade uranium mineralization. The program is expected to begin mid-July, subject to operational scheduling. GR and Blackwing are located on the north-western side the Athabasca Basin and are strategically situated along two major structural corridors known to control uranium mineralization (see Figure 1). The Grease River Shear Zone, which bisects GR, is a major crustal-scale fault system that has been interpreted as a conduit for mineralizing fluids. Similarly, the Black Bay Fault, which cuts directly through the center of Blackwing, is a prominent reactivated basement structure that may provide an ideal setting for the concentration of uranium-bearing fluids. Jason Barnard, President and CEO of Foremost, commented: "." The MobileMT™ system offers a unique advantage by imaging subsurface resistivity to depths of up to 2 kilometers, making it particularly effective at mapping deep basement conductors and structural features that are often associated with high-grade Athabasca-style uranium deposits. Key Technical Highlights of the GR and Blackwing Survey: Survey Size: ~5,000 line-km across both properties Line Spacing: 200 meters; Tie lines spaced at 2,000 meters Depth Penetration: 1–2 km using natural EM fields (AFMAG) Instrumentation: MobileMT™ system with high-sensitivity magnetic and VLF sensors This airborne program represents a major step in Foremost's goal of advancing its north-western Saskatchewan uranium portfolio through modern, efficient exploration methods. The results are expected to provide essential data to guide future ground programs and drill targeting on both 1. GR and Blackwing Properties The GR and Blackwing properties both hosts compelling structural features that lie within a regional-scale fault zone with demonstrated mineralizing potential in an area that has remained largely unexplored. The Company believes both properties represent frontier opportunities for the discovery of new high-grade uranium systems and looks forward to reporting results from the planned geophysical surveying. Annual Equity Grant As part of its regular annual compensation review process, Foremost has approved the issuance of 413,100 Restricted Stock Units ("RSUs") to its management team, board of directors, employees, consultants, and staff, subject to approval by the Canadian Securities Exchange ("CSE"). This equity grant represents the Company's 2025 annual equity incentive issuance and is aligned with its long-term compensation philosophy aimed at attracting, retaining, and rewarding high-performing individuals while aligning their interests with those of shareholders. The RSUs will vest in three equal installments on April 1, 2026, April 1, 2027, and April 1, 2028, contingent on continued service and in accordance with Foremost's Stock Incentive Plan (the 'Plan'), which was adopted by shareholders at the Company's annual general and special meeting held on December 20, 2025. The RSUs were granted in accordance with the Plan and the policies of the CSE and NASDAQ. Qualified Person The technical content of this news release has been reviewed and approved by Cameron MacKay, P. Geo., Vice President of Exploration for Foremost, and a Qualified Person under National Instrument 43-101, who has prepared and reviewed the content of this press release. A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property's potential and are relevant for any future exploration program. About Foremost Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost's uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company's mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs. Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company's website at Contact and Information CompanyJason Barnard, President and CEO+1 (604) 330-8067 info@ Follow us or contact us on social media:X: @fmstcleanenergyLinkedIn: Facebook: Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute 'forward-looking statements' as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or 'does not expect,' 'is expected,' 'anticipates' or 'does not anticipate,' 'plans,' 'estimates' or 'intends,' or stating that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties and satisfaction of the conditions to the option agreement with Denison, risks and uncertainties associated with the environment, delays in obtaining governmental approvals, permits or financing. Although 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 statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. and information. Please refer to the Company's most recent filings under its profile at on Sedar+ at and on Edgar at for further information respecting the risks affecting the Company and its business. The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. A photo accompanying this announcement is available at
Associated Press
12-06-2025
- Business
- Associated Press
Aston Bay and American West Metals Announce Drilling Preparations Underway at the Storm Project, Nunavut, Canada
Camp opening and logistics have commenced with geophysics and drilling to follow in the coming weeks Highlights: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Laboratory assays are required to determine the presence and grade of any contained mineralization within the reported visual intersections of copper sulfides. Portable XRF is used as an aid in the determination of mineral type and abundance during the geological logging process. TORONTO, ON / ACCESS Newswire / June 12, 2025 / Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ('Aston Bay' or the 'Company') is pleased to announce the commencement of activities at the Storm Copper Project ('Storm' or the 'Project') on Somerset Island, Nunavut. American West Metals Limited ('American West'), the Project operator, is conducting the exploration program. Aston Bay and American West have formed a 20/80 unincorporated joint venture with respect to the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine is made upon completion of a bankable feasibility study. Thomas Ullrich, Chief Executive Officer of Aston Bay, commented: 'We are excited to begin another field season at Storm. The reverse circulation drill rig will work on adding to the resource and target near-surface exploration targets, while the diamond drill rig will focus on the deeper exploratory holes. 'In addition to the compelling targets generated in previous geophysical programs, we are very excited to be flying a comprehensive MobileMT survey at Storm. This is the same survey that has successfully delineated large conductive targets at our Epworth property. The significant contrast in the conductive properties of the mineralized rock versus the host rock at Storm is ideal for MobileMT, and its utilization of natural-source energy from within the Earth should help define deeper targets that may have eluded previous methods. These new targets will be ready for drilling this season. 'Investors can also look forward to the completion of a Preliminary Economic Analysis for the near-surface mineralization at Storm, currently underway. We are also working up drill targets for our Epworth copper project, also in Nunavut, for a potential late-season drill program.' Figure 1: A photo of interpreted copper sulfides/oxides (green) on the surface at the Chinook Deposit, Storm Project, Nunavut. The material has not been assayed. INITIAL DIAMOND DRILL PLAN The first diamond drill targets to be tested in the Storm MRE area are Cirrus Deeps and Cyclone Deeps (Figure 2). The drilling aims to follow up earlier intersections of high-grade copper mineralization and build evidence for the large-scale copper potential at depth, which could rapidly expand the copper endowment within the Storm MRE area. Subsequent diamond drilling will continue to test high-priority geophysical anomalies and regional exploration targets. These will include the Tornado, Blizzard, Midway areas and any new targets defined by the upcoming MMT survey. Figure 2: Plan view of the Storm area showing the high-priority (initial drilling) areas with potential for further growth of copper mineralization based on drilling, geochemical sampling and geophysics, overlaying copper deposit outlines, and topography. Cirrus Deeps Diamond drill hole ST24-03 was designed to target a 1,300m x 500m MLEM anomaly (Figure 3 & 5) which is bounded by a series of large EM plates (approximately 350m to top, conductance ~40-60 siemens, moderate ~40-60° S/SW dip, striking ~WNW-ESE) at its northern edge. The EM anomalies are located below the Cirrus Deposit and the Gap high-grade copper prospect, and are interpreted to be proximal to the Southern Graben Fault. This location in the Allen Bay Formation immediately below the Cape Storm Formation is the same stratigraphic location as Cyclone. In addition to the potential for flat-lying stratigraphic mineralization like Cyclone, the target is located along a fault zone similar to the well-mineralized Chinook Deposit. These anomalies may indicate a considerable, connected accumulation of copper within the Central Graben area. Similar EM targets drilled elsewhere in the Storm copper belt have been confirmed as high-grade copper mineralization. Figure 3: NE-SW geological section view through ST24-03 (looking NW) showing the Cirrus Deposit, interpreted Southern Graben Fault and modelled MLEM conductors. The planned drill hole depth is 650-700m. ST24-03 has currently been drilled to a downhole depth of 414m (planned depth of 600-700m) and intersected several zones of fracturing and sporadic copper sulfides (Figure 3) in the upper portion of the hole, with increased fracturing at depth. Fracturing and voids in the rock are positive indications since permeability and open spaces are required for efficient mineralization in the sediment hosted copper model. The drill hole will be the first diamond hole completed in the 2025 drill program. Cyclone Deeps High-grade copper mineralization has been discovered at depth, offset to the south of the Cyclone Deposit (Figure 4). The Cyclone Deeps intersection of 10m @ 1.2% Cu (drill hole ST24-01) displays a typical sediment hosted copper mineralogical profile with a high-grade core of native copper and chalcocite (including 3m @ 2.2% Cu) with peripheral chalcopyrite and other less copper-rich sulfide minerals. The copper mineralization is hosted near the top of a thick sequence of fractured dolomudstone of the Allen Bay Formation. The Allen Bay is the main host of the known copper mineralization within the Storm area, and the stratigraphic position near the top of the formation also hosts Cyclone, the largest deposit discovered to date. This mineralization may represent the offset southern portion of the faulted Cyclone Deposit and presents an exceptional opportunity to add significant volume to the current resources. This prospective horizon extends for over 5km in the immediate Storm area. Figure 4: Schematic geological section at 464730E. The mineralization intersected by ST24-01 is immediately below the Cape Storm Formation, similar to the Cyclone Deposit. INITIAL REVERSE CIRCULATION DRILL PLAN Reverse Circulation ('RC') drilling will be used to test near-surface (<250m depth) resource upgrade, resource expansion, and exploration targets. The first phase of drilling will commence at the Thunder, Lightning Ridge, and Corona Deposits before moving on to The Gap, Squall and Hailstorm Prospects (Figure 2). All of these opportunities have the potential to add significant mineral resources to the Storm Project, with high-grade mineralization similar to the known deposits already discovered. Subsequent RC drilling will aim to test other nearby and regional exploration targets, which include the Tornado and Blizzard areas, and numerous untested geochemical, Electromagnetic (EM) and Induced Polarization (IP) anomalies. The Gap Prospect is a 500m-long zone located between the Corona and Cirrus Copper Deposits (Figure 2), where multiple drill holes have intersected high-grade copper sulfides (including 1.5m @ 4.4% Cu, 9.8g/t Ag from 39m, and 2m @ 2.5% Cu from 74m downhole in AB18-09, and 20m @ 2.3% Cu, 3.3g/t Ag (Including 8m @ 5.3% Cu, 6.4g/t Ag) from 28m in SR24-003. The Squall and Hailstorm Prospects are located immediately south of the southern graben fault and collectively extend 1.8km northwest along strike of the Corona Deposit (see Figure 2). Drilling at Squall during the 2024 season intercepted 1.5m @ 2.36% Cu, 5.0g/t Ag from 181.4m (SR24-108) at the end of the hole, whilst surface geochemistry at Hailstorm has identified a 250m x 250m copper anomaly that remains open to the south (Figure 5). Figure 5: Copper gossan from the Hailstorm Prospect. This is massive chalcocite (copper sulfide) and returned a laboratory assay grade of >50% Cu, 61g/t Ag (Sample Y007193, 50% Cu is the upper limit of the assay technique used). Mobile Magneto-Telluric (MobileMT) Survey A regional-scale MobileMT survey is planned to cover the Storm and wider exploration areas during the 2025 program (Figure 6). MMT utilizes natural source energy to capture a broader range of EM frequencies than the techniques used at Storm to date. The survey is designed to show a greater contrast between the host rocks and potential accumulations of conductive material (i.e. metalliferous sulfide) with improved spatial and depth resolution. This is potentially very useful in delineating deeper (>200m) occurrences of copper sulfide at Storm, where the resistive host rocks cause a decreased signal-to-noise ratio and decreased confidence in interpretation with depth in the historical geophysics. The initial MobileMT survey will be completed over the Midway-Storm-Tornado area as an orientation survey to determine the response of the known deposits before extending the survey into more regional areas. The survey will begin in the coming week, allowing results to inform drill targeting and prioritization this season. Figure 6: Proposed MobileMT survey showing the planned Phase 1 and Phase 2 survey lines, overlaying topography, and regional geology. FORWARD PROGRAM Qualified Person Michael Dufresne, is a Qualified Person as defined by the NI 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical information in this press release. QA/QC Protocols The analytical work reported herein was performed by ALS Global ('ALS'), Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of Aston Bay Holdings Ltd., American West Metals Limited, and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Samples were subject to 33 element geochemistry by four-acid digestion and inductively coupled plasma atomic emission spectroscopy (ICP-AES) to determine concentrations of copper, silver, lead, zinc, and other elements (ALS Method ME-ICP61a). Overlimit values for copper (>10%) and were analyzed via four-acid digestion and ICP-AES (ALS Method Cu-OG62). Aston Bay Holdings Ltd. and American West Metals Limited followed industry standard procedures for the work carried out on the Storm Project, incorporating a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence and sent to the laboratory for analysis. No significant QA/QC issues were detected during review of the data. Aston Bay Holdings Ltd. and American West Metals Limited are not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein. About Aston Bay Holdings Aston Bay is a publicly traded mineral exploration company exploring for high-grade critical and precious metal deposits in North America. The Company is currently exploring the Storm Copper Property and Cu-Ag-Zn-Co Epworth Property in Nunavut. The Company is also in advanced stages of negotiation on other lands with high-grade precious and critical metals potential in North America The Company and its joint venture partners, American West Metals Limited and its wholly-owned subsidiary, Tornado Metals Ltd. (collectively, 'American West'), have formed a 20/80 unincorporated joint venture in respect of the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit. Under the unincorporated joint venture, Aston Bay shall have a free carried interest until American West has made a decision to mine upon completion of a bankable feasibility study, meaning American West will be solely responsible for funding the joint venture until such decision is made. After such decision is made, Aston Bay will be diluted in the event it does not elect to contribute its proportionate share and its interest in the Storm Project property will be converted into a 2% net smelter returns royalty if its interest is diluted to below 10%. FORWARD-LOOKING STATEMENTS Statements made in this news release, including those regarding entering into the joint venture and each party's interest in the Project pursuant to the agreement in respect of the joint venture, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute 'forward-looking statement', which can be identified by the use of conditional or future tenses or by the use of such verbs as 'believe', 'expect', 'may', 'will', 'should', 'estimate', 'anticipate', 'project', 'plan', and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Aston Bay's expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation. Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. For more information contact: Thomas Ullrich, Chief Executive Officer [email protected] (416) 456-3516 Sofia Harquail, IR and Corporate Development [email protected] (647) 821-1337 SOURCE: Aston Bay Holdings Ltd. press release
Hamilton Spectator
30-04-2025
- Business
- Hamilton Spectator
Greenridge Exploration Completes Airborne MobileMT Survey at the Sabre Uranium Project in Athabasca Basin, Saskatchewan
VANCOUVER, British Columbia, April 30, 2025 (GLOBE NEWSWIRE) — Greenridge Exploration Inc. ('Greenridge' or the 'Company') (CSE: GXP | FRA: HW3 | OTCQB: GXPLF) is pleased to announce the completion of a high-resolution helicopter-borne Mobile MagnetoTellurics System ('MobileMT') survey at the Sabre Uranium Project (the 'Sabre Property' or the 'Project') located in the northern Athabasca Basin region of Saskatchewan, Canada. The Project-wide MobileMT survey completed by Expert Geophysics Surveys Inc. ('EGS') consisted of 1,536 line-kilometres flown at 200-metre line spacings over a 232 square kilometre area. The MobileMT survey was implemented to map sub-surface magnetic signatures and detect conductive zones within the margin of the Athabasca Basin sandstones that may be prospective for hosting unconformity-related uranium mineralization. Figure 1 - Sabre Property; 2025 Airborne MobileMT Survey Flightlines, Athabasca Basin The Company believes that its use of the MobileMT system is ideal for the advancement of exploration at the Sabre Property through delineation of major conductive structural systems, and the Company looks forward to the interpretation of the 2025 results to develop new drill targets. In conjunction with the processing and interpretation of the 2025 MobileMT data, Greenridge plans to undertake an extensive geophysical data compilation, which would include the following historical datasets: The Sabre Property is fully-permitted for uranium exploration, including prospecting, geophysical surveys and drilling, until November 30, 2027. Engagement with local communities is ongoing with the goal of creating a mutually beneficial relationship between the Company and the residents of the Northern Athabasca region. About the Sabre Property The Sabre Property is located on the northern edge of the Athabasca Basin approximately thirty (30) kilometres west of Stony Rapids and ten (10) kilometres south of Fond du Lac, Saskatchewan. The Project is comprised of twenty-eight (28) claims totaling 23,178 hectares and is believed to be prospective for hosting unconformity-related uranium mineralization. The Fond du Lac uranium deposit, a shallow, sandstone-hosted deposit with a historic reserve of approximately 990,000 pounds (450,000 kilograms) averaging 0.25% U3O8 is located approximately 5.5 kilometres to the northwest of the Project's western boundary (please see Figure 1), which may demonstrate the prospectivity of the region for the deposition of uranium mineralization.1 Historical exploration at the Sabre Property has identified anomalous uranium-bearing sandstone boulders and outcrop at surface, numerous interpreted fault structures, and electromagnetic ('EM') conductors interpreted to lie at depths greater than three hundred (300) metres. Graphitic conductors can provide favourable conduits and host environments for the deposition of uranium at or near the unconformity between the Athabasca sandstones and the older Archean and Paleoproterozoic basement rocks. Drill testing for uranium within the current boundaries of the Sabre Property is limited to five (5) historical drill holes. Hole MNL-02, drilled by UEX Corporation in 2006, intersected anomalous dravite veining that returned a geochemical value of 2,059 parts per million boron in the sandstone at a depth of 290.5 metres, approximately 23 metres above the unconformity, which was reached at 322.4 metres.2 Dravite is recognized as a pathfinder clay alteration mineral that is often associated with uranium mineralization in the Athabasca Basin. References: 1 Saskatchewan Mineral Deposits Index (SMDI) #1572 , Fond Du Lac Uranium Deposit . 2 Saskatchewan Mineral Assessment Database, (SMAD) Assessment Report #74O01-0038, by UEX Corporation, A. Farkas and S. Eriks, January 2008. Statement of Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, P. Geo., Technical Advisor and a geological consultant to the Company and a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr. Hillacre has examined information regarding the historical exploration at the Sabre Property, which includes a review of the historical sampling, analytical and procedures underlying the information and opinions contained herein. Management cautions that historical results collected and reported by operators unrelated to Greenridge have not been verified nor confirmed by its Qualified Person; however, the historical results create a scientific basis for ongoing work in the Sabre Property. Management further cautions that historical results, discoveries and published resource estimates on adjacent or nearby mineral properties, or other properties located within the Athabasca Basin, whether in stated current resource estimates or historical resource estimates, are not necessarily indicative of the results that may be achieved on the Sabre Property. About Greenridge Exploration Inc. Greenridge Exploration Inc. (CSE: GXP | OTCQB: GXPLF | FRA: HW3) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in Canada. The Company owns or has interests in 28 projects and additional claims covering approximately 389,210 hectares with considerable exposure to potential uranium, lithium, nickel, copper and gold discoveries. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects. Greenridge has one of the largest uranium property portfolios in Canada consisting of 15 projects and additional prospective claims covering approximately 216,405 hectares. The Company has opportunities to realize value in a further 13 strategic metals projects which include lithium, nickel, gold, and copper exploration properties totalling approximately 172,805 hectares. Project highlights include: The Company has strategic partnerships which includes properties being operated and advanced by Denison Mines Corp. and Uranium Energy Corp. The Company's management team, board of directors, and technical team brings significant expertise in capital raising and advancing mining projects and is poised to attract new investors and raise future capital. References: 1 – Black Lake: UEX Corporation News Release dated October 12, 2004. 2 – Gibbons Creek: Lakeland Resources Inc. News Release dated January 8, 2014. 3 – McKenzie Lake: ALX Resources Corp. New Release dated November 7, 2023. 4 – Nut Lake: 1979 Assessment Report (number 81075) by Pan Ocean Oil Ltd. 5 – Nut Lake: Greenridge Exploration Inc. News Release dated February 19, 2025. 6 – Firebird Nickel: ALX Resources Corp. New Release dated April 15, 2020. 7 – Electra Nickel: ALX Resources Corp. New Release dated July 20, 2022. On Behalf of the Board of Directors of Greenridge Russell Starr Chief Executive Officer, Director Telephone: +1 (778) 897-3388 Email: info@ Disclaimer for Forward-Looking Information Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Forward looking statements in this news release include, but are not limited to, statements respecting: statements with respect to the Project and its mineralization potential; the Company's objectives, goals, or future plans with respect to the Project; statements with respect to the MobileMT survey; expected benefits of conducting the MobileMT survey; and the Company's anticipated exploration activities at the Project. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release. A photo accompanying this announcement is available at
