Latest news with #Pre-FeasibilityStudy
Yahoo
3 days ago
- Business
- Yahoo
Thesis Gold Announces 2025 Exploration Program and Mobilizes Crews to Lawyers-Ranch Project
VANCOUVER, BC, June 5, 2025 /CNW/ - Thesis Gold Inc. ("Thesis" or the "Company") (TSXV: TAU) (WKN: A3EP87) (OTCQX: THSGF) is pleased to announce the mobilization of crews for the 2025 exploration season at its 100%-owned Lawyers-Ranch Project, located in British Columbia's prolific Toodoggone Mining District. The Company is advancing work toward a Pre-Feasibility Study (PFS), targeted for release in Q4-2025. This season's program will lay critical groundwork for future engineering studies, with geological efforts focused on defining the project's broader potential. Concurrently, engineering and environmental initiatives will continue to de-risk the project ahead of the Environmental Assessment (EA) process, anticipated to begin in the second half of 2025. 2025 Program Highlights Geological work: 10,000+ metres (m) of drilling will be split between resource expansion and testing undrilled prospects at Ranch. A portion of this season's drill program will be directed toward follow-up drilling at the Ring zone, a discovery made in 2024 (see November 13th, 2024 news release entitled "Thesis Gold makes new near-surface discovery at the Ring zone). Resource expansion drilling will target the Bingo and Steve zones, where the technical team sees significant upside to help unlock broader project-scale potential. Thesis will test several new targets for near-surface epithermal-style mineralization while also advancing its understanding of deeper porphyry potential, as highlighted by geological, geochemical, and geophysical anomalies. The Toodoggone District remains significantly underexplored for porphyry systems, and this season's program will include drilling at multiple high-potential porphyry centers identified across the project area. Thesis has contracted Simcoe Geoscience to conduct a 3D induced polarization (IP) survey. These data will be utilized in drill targeting later this season. During the latter part of the summer, field crews will mobilize to the Company's satellite claim blocks, the North and East claims, to build on a successful preliminary mapping and prospecting program from 2024. Engineering work: 5,000 m of multipurpose geotechnical drilling will provide preliminary information to allow the company to move swiftly from the 2025 PFS to further engineering studies in 2026. Drilling aimed at characterizing the structural integrity of rock both within the resource and in the conceptual pit walls will support important project design criteria including pit slopes, underground mine geotech, and estimates for mine/pit inflow. Additional metallurgical studies at both Ranch and Lawyers will help further classify rock comminution characteristics and optimize the processing flowsheet. Additional geochemical sampling will go towards further classifying the acid-base conditions of mineralized and waste material. Environmental studies: The required two years of baseline data collection at Lawyers is complete, with ongoing studies focused on monitoring and upkeep. Ranch is in the final months of baseline data collection. Biologists and hydrogeologists will be on-site this summer to continue characterizing the project's aquatic, terrestrial, geochemical, and meteorological components. Dr. Ewan Webster, President and CEO, commented, "We are excited to launch the 2025 exploration season at our Lawyers-Ranch Project. Building on the momentum of previous years, this season's comprehensive geological, engineering, and environmental programs are focused on continued project de-risking and value creation. With over 15,000 metres of drilling planned, our objectives are to expand known resources, test high-priority new epithermal and porphyry targets, and support long-term development. Concurrent engineering and environmental baseline work will continue to underpin future technical studies and advance the environmental assessment process. These efforts reflect our commitment to efficiently advancing the Lawyers-Ranch Project as a premier precious metals asset." The Lawyers-Ranch project offers significant exploration potential, with over 20 undrilled gold showings and numerous areas identified with promising geological, geochemical, and geophysical anomalies. This year, the Company plans to focus on anomalies within the Ranch project area that show promise for future discoveries (Figure 1). Throughout the winter, the technical team has been leveraging a robust geochemical and geophysical dataset to highlight a prospective corridor between Ring, Steve, Mandusa, and Golden Furlong at the Ranch area. The exploration potential in this region is twofold, as Thesis aims to leverage the opportunity for additional discoveries of shallow epithermal-style mineralization that have the potential to further unlock clues about the porphyry potential below the Ranch lithocap, with some deeper holes testing favorable structures and intersecting anomalies (Figure 2). Dr. Evan Orovan, Chief Geologist, commented, "I am excited to get to the Lawyers-Ranch Project this summer to contextualize this winter's desktop work with some boots-on-the-ground geology. Drawing from my global experience in porphyry-epithermal systems, I expect to learn a lot from this summer's exploration program and our new targets at Ranch." To date, Thesis has made significant progress in de-risking the Lawyers-Ranch Project. The upcoming PFS, targeted for release in Q4 2025, builds on the strong results of the Preliminary Economic Assessment (PEA) announced on September 5, 2024, which outlined an after-tax NPV5% of C$1.28 billion, a 35.2% IRR, and a 2.0-year payback period. Part of this summer's objective is to initiate key data collection to support a Feasibility-level engineering study, planned to commence immediately following the completion of the PFS. Environmental baseline studies are critical to understanding site-specific conditions prior to project development. These studies require a minimum of two years of data collection covering air, water, soil, and biological resources. Once complete, ongoing monitoring ensures that the established baseline can inform accurate environmental modeling and support the EA process expected to kick off in H2 2025. This summer, biologists will complete the final months of baseline data collection at Ranch and continue monitoring efforts at both Ranch and Lawyers. Quality Assurance and ControlSamples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Andrew Turner, A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project. The technical content of this news release has been reviewed and approved by Michael Dufresne, a qualified person as defined by National Instrument 43-101. Thesis granted an aggregate of: (i) 500,000 stock options (the "Options") to employees; (ii) 750,000 deferred share units (the "DSUs") to directors; and (iii) 1,500,000 RSUs to directors and an officer with all awards governed by the Omnibus Long-Term Incentive Plan and each applicable award agreement. Each vested Option entitles the holder to purchase one common share of the Company (each, a "Common Share") at an exercise price of $1.20 per Common Share for five years from June 4, 2025 (the "Grant Date"). Half the Options vest on the first anniversary of the Grant Date, with the remaining vesting on the second anniversary of the Grant Date. Each vested RSU entitles the holder to receive one Common Share on settlement. The RSUs vest upon the earlier of the termination date of the holder and ten years. Each vested DSU entitles the holder to receive one Common Share upon settlement. The DSUs vest and settle on the DSU holder's termination date. On behalf of the Board of DirectorsThesis Gold Inc. "Ewan Webster" Ewan Webster Ph.D., CEO, and Director About Thesis Gold Inc. Thesis Gold Inc. is a resource development company focused on unlocking the potential of its 100% owned Lawyers-Ranch Project, located in British Columbia's prolific Toodoggone Mining District. The recently completed Preliminary Economic Assessment (PEA) highlights robust project economics, including a 35.2% after-tax IRR and an after-tax NPV5% of C$1.28 billion, demonstrating the potential for significant value creation. The Company's 2025 roadmap includes a robust exploration and drill program, delivery of a Pre-Feasibility Study on the combined Lawyers-Ranch Project, and commencement of the Environmental Impact Assessment Process. Through these strategic moves, Thesis Gold intends to elevate the Lawyers-Ranch Project to the forefront of global precious metals ventures. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis, which is available on the Company's profile on SEDAR+ at The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. View original content to download multimedia: SOURCE Thesis Gold Inc. 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Cision Canada
3 days ago
- Business
- Cision Canada
Thesis Gold Announces 2025 Exploration Program and Mobilizes Crews to Lawyers-Ranch Project
VANCOUVER, BC, June 5, 2025 /CNW/ - Thesis Gold Inc. (" Thesis" or the "Company") (TSXV: TAU) (WKN: A3EP87) (OTCQX: THSGF) is pleased to announce the mobilization of crews for the 2025 exploration season at its 100%-owned Lawyers-Ranch Project, located in British Columbia's prolific Toodoggone Mining District. The Company is advancing work toward a Pre-Feasibility Study (PFS), targeted for release in Q4-2025. This season's program will lay critical groundwork for future engineering studies, with geological efforts focused on defining the project's broader potential. Concurrently, engineering and environmental initiatives will continue to de-risk the project ahead of the Environmental Assessment (EA) process, anticipated to begin in the second half of 2025. 2025 Program Highlights Geological work: 10,000+ metres (m) of drilling will be split between resource expansion and testing undrilled prospects at Ranch. A portion of this season's drill program will be directed toward follow-up drilling at the Ring zone, a discovery made in 2024 (see November 13th, 2024 news release entitled "Thesis Gold makes new near-surface discovery at the Ring zone). Resource expansion drilling will target the Bingo and Steve zones, where the technical team sees significant upside to help unlock broader project-scale potential. Thesis will test several new targets for near-surface epithermal-style mineralization while also advancing its understanding of deeper porphyry potential, as highlighted by geological, geochemical, and geophysical anomalies. The Toodoggone District remains significantly underexplored for porphyry systems, and this season's program will include drilling at multiple high-potential porphyry centers identified across the project area. Thesis has contracted Simcoe Geoscience to conduct a 3D induced polarization (IP) survey. These data will be utilized in drill targeting later this season. During the latter part of the summer, field crews will mobilize to the Company's satellite claim blocks, the North and East claims, to build on a successful preliminary mapping and prospecting program from 2024. Engineering work: 5,000 m of multipurpose geotechnical drilling will provide preliminary information to allow the company to move swiftly from the 2025 PFS to further engineering studies in 2026. Drilling aimed at characterizing the structural integrity of rock both within the resource and in the conceptual pit walls will support important project design criteria including pit slopes, underground mine geotech, and estimates for mine/pit inflow. Additional metallurgical studies at both Ranch and Lawyers will help further classify rock comminution characteristics and optimize the processing flowsheet. Additional geochemical sampling will go towards further classifying the acid-base conditions of mineralized and waste material. Environmental studies: The required two years of baseline data collection at Lawyers is complete, with ongoing studies focused on monitoring and upkeep. Ranch is in the final months of baseline data collection. Biologists and hydrogeologists will be on-site this summer to continue characterizing the project's aquatic, terrestrial, geochemical, and meteorological components. Dr. Ewan Webster, President and CEO, commented, "We are excited to launch the 2025 exploration season at our Lawyers-Ranch Project. Building on the momentum of previous years, this season's comprehensive geological, engineering, and environmental programs are focused on continued project de-risking and value creation. With over 15,000 metres of drilling planned, our objectives are to expand known resources, test high-priority new epithermal and porphyry targets, and support long-term development. Concurrent engineering and environmental baseline work will continue to underpin future technical studies and advance the environmental assessment process. These efforts reflect our commitment to efficiently advancing the Lawyers-Ranch Project as a premier precious metals asset." The Lawyers-Ranch project offers significant exploration potential, with over 20 undrilled gold showings and numerous areas identified with promising geological, geochemical, and geophysical anomalies. This year, the Company plans to focus on anomalies within the Ranch project area that show promise for future discoveries (Figure 1). Throughout the winter, the technical team has been leveraging a robust geochemical and geophysical dataset to highlight a prospective corridor between Ring, Steve, Mandusa, and Golden Furlong at the Ranch area. The exploration potential in this region is twofold, as Thesis aims to leverage the opportunity for additional discoveries of shallow epithermal-style mineralization that have the potential to further unlock clues about the porphyry potential below the Ranch lithocap, with some deeper holes testing favorable structures and intersecting anomalies (Figure 2). Dr. Evan Orovan, Chief Geologist, commented, "I am excited to get to the Lawyers-Ranch Project this summer to contextualize this winter's desktop work with some boots-on-the-ground geology. Drawing from my global experience in porphyry-epithermal systems, I expect to learn a lot from this summer's exploration program and our new targets at Ranch." To date, Thesis has made significant progress in de-risking the Lawyers-Ranch Project. The upcoming PFS, targeted for release in Q4 2025, builds on the strong results of the Preliminary Economic Assessment (PEA) announced on September 5, 2024, which outlined an after-tax NPV5% of C$1.28 billion, a 35.2% IRR, and a 2.0-year payback period. Part of this summer's objective is to initiate key data collection to support a Feasibility-level engineering study, planned to commence immediately following the completion of the PFS. Environmental baseline studies are critical to understanding site-specific conditions prior to project development. These studies require a minimum of two years of data collection covering air, water, soil, and biological resources. Once complete, ongoing monitoring ensures that the established baseline can inform accurate environmental modeling and support the EA process expected to kick off in H2 2025. This summer, biologists will complete the final months of baseline data collection at Ranch and continue monitoring efforts at both Ranch and Lawyers. Quality Assurance and Control Samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Andrew Turner, A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project. The technical content of this news release has been reviewed and approved by Michael Dufresne, a qualified person as defined by National Instrument 43-101. Thesis granted an aggregate of: (i) 500,000 stock options (the "Options") to employees; (ii) 750,000 deferred share units (the "DSUs") to directors; and (iii) 1,500,000 RSUs to directors and an officer with all awards governed by the Omnibus Long-Term Incentive Plan and each applicable award agreement. Each vested Option entitles the holder to purchase one common share of the Company (each, a "Common Share") at an exercise price of $1.20 per Common Share for five years from June 4, 2025 (the "Grant Date"). Half the Options vest on the first anniversary of the Grant Date, with the remaining vesting on the second anniversary of the Grant Date. Each vested RSU entitles the holder to receive one Common Share on settlement. The RSUs vest upon the earlier of the termination date of the holder and ten years. Each vested DSU entitles the holder to receive one Common Share upon settlement. The DSUs vest and settle on the DSU holder's termination date. On behalf of the Board of Directors Thesis Gold Inc. "Ewan Webster" Ewan Webster Ph.D., President, CEO, and Director About Thesis Gold Inc. Thesis Gold Inc. is a resource development company focused on unlocking the potential of its 100% owned Lawyers-Ranch Project, located in British Columbia's prolific Toodoggone Mining District. The recently completed Preliminary Economic Assessment (PEA) highlights robust project economics, including a 35.2% after-tax IRR and an after-tax NPV5% of C$1.28 billion, demonstrating the potential for significant value creation. The Company's 2025 roadmap includes a robust exploration and drill program, delivery of a Pre-Feasibility Study on the combined Lawyers-Ranch Project, and commencement of the Environmental Impact Assessment Process. Through these strategic moves, Thesis Gold intends to elevate the Lawyers-Ranch Project to the forefront of global precious metals ventures. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis, which is available on the Company's profile on SEDAR+ at The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. SOURCE Thesis Gold Inc.
Yahoo
5 days ago
- Business
- Yahoo
Probe Awards Key Engineering Contracts to Advance Novador Project Pre-Feasibility Study
Highlights: Ausenco Engineering Canada ULC will lead the Pre-Feasibility Study (PFS) and will be responsible for the process plant design, the supporting infrastructure, overall opex and capex. G Mining Services will lead the mining engineering scope of the project including mining opex and capex. GHD will lead the scope of the project related to the design of tailings and water management infrastructures. Probe has successfully completed a 50,000-metre infill drilling program to support the PFS, which remains on track for completion by year-end 2025. TORONTO, June 03, 2025 (GLOBE NEWSWIRE) -- PROBE GOLD INC. (TSX: PRB) (OTCQB: PROBF) ("Probe" or the "Company") is pleased to announce that it has awarded all major engineering contracts for project management services related to the Pre-Feasibility Study ('PFS') of its flagship Novador Project. The PFS is scheduled for completion by the end of 2025. Ausenco Engineering Canada ULC ('Ausenco') has been appointed to lead the PFS and will oversee project timelines, milestones, and deliverables. Ausenco will contribute technical expertise across core engineering disciplines, including infrastructure, metallurgy, and processing and will produce a project execution plan with related capex and opex to advance the project towards the future Feasibility Study and permitting. G Mining Services Inc. (GMS) has been engaged to lead all mining engineering aspects of the PFS. GMS' scope includes the open pit and underground mining engineering and design, mine planning, mining infrastructure, mining opex and capex, and the development of the mining execution strategy. GHD has been appointed for all engineering aspects related to tailings and water management infrastructures. GHD is currently producing the physical environment baseline studies, and they will be able to leverage their understanding of the Novador project site and the permitting requirements into their design and the selection of optimum solutions. David Palmer, President and CEO of Probe Gold, states 'With these key contracts in place, Probe is well positioned to advance the Novador Project into its next phase of development and deliver a robust, high-quality Pre-Feasibility Study. By working with global leaders, Ausenco for process infrastructure, G Mining Services for mining engineering, and GHD for water and tailings management, we have strong confidence in the technical quality and scope of the work ahead. These collaborations support our timeline to deliver the PFS by year-end. We see significant potential to enhance the current study and look forward to drawing on the expertise of our consultants throughout the process. At the same time, we are making steady progress on our permitting strategy. With the successful completion of our recent financing, Probe is fully funded to advance through the next stages of regulatory and permitting work, creating meaningful value for our shareholders.' About Probe's Novador Project Since 2016, Probe Gold has been consolidating its land position in the highly prospective Val d'Or East area in the province of Quebec with a district-scale land package of 835 square kilometres that represents one of the largest land holdings in the Val-d'Or mining camp. The Novador project represents one property block of 202 square kilometres that hosts four past producing mines (Beliveau Mine, Bussiere Mine, Monique Mine and Beaufor Mine) and contains 80% of the Company's gold resources in Val-d'Or East. Novador is situated in a politically stable and low-cost mining environment that hosts numerous active producers and mills. About AusencoAusenco is a global company delivering innovative, value-add consulting, studies, project delivery, asset operations and maintenance solutions to the minerals and metals and industrial sectors. Ausenco operates from 21 offices across five continents, delivering services worldwide with a strong track record of successfully completing projects in Quebec. Study work in Quebec includes Agnico Eagle Mines' Wasamac FS and FS Update, O3 Mining's Marban PFS and Probe Gold's Novador PEA and PEA Update. Other notable PFS studies completed in Canada include NexGold's Goliath Project and St. Barbara's 15-Mile Project and the recently awarded Mayfair Gold Fenn-Gib Project. Beyond Quebec, Ausenco has also recently executed major projects such as Alamos Gold's Magino Project in Ontario, St. Barbara's Moose River Project in Nova Scotia and SilverCrest Metals' Las Chispas Project in Mexico. ( About G MiningG Mining Services is an entrepreneurial minded and multidisciplinary company which provides professional services to both underground and open pit mining projects in precious, base or industrial metals. G Mining has the expertise to develop a resource through all stages from exploration and development to construction, commissioning, and full-scale operations. ( About GHDGHD is a global, employee-owned professional services company founded in 1928 and headquartered in Australia. Operating across five continents, GHD brings together more than 1,800 professionals in Canada. We collaborate with mining clients across the globe to deliver integrated solutions that address complex environmental and engineering challenges. In Canada, we are currently supporting multiple mine waste and water management Pre-Feasibility Studies across Nova Scotia, New Brunswick, British Columbia, and Quebec. These engagements span key commodities including gold, base metals, and lithium. By bringing together expertise in engineering, environmental science, architecture, and construction, we help our clients plan and deliver sustainable outcomes that create long-term value. ( About Probe GoldProbe Gold Inc. is a leading Canadian company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company is well-funded and dedicated to exploring and developing high-quality gold projects. Notably, it owns 100% of its flagship asset, the multimillion-ounce Novador Gold Project in Québec, as well as an early-stage Detour Gold Québec project. Probe controls a large land package of approximately 1,835-square-kilometres of exploration ground within some of the most prolific gold belts in Québec. The Company's recent Novador updated Preliminary Economic Assessment outlines a robust mining plan with an average annual gold production of 255,000 ounces over a 12.6-year mine life. Val-d'Or properties include gold resources totaling 6,728,600 ounces in the Measured and Indicated category and 3,277,100 ounces in the Inferred category along all trends and deposits. On behalf of Probe Gold Inc., President & Chief Executive OfficerPlease visit our website at or contact: Seema SindwaniVice-President of Investor Relationsinfo@ Forward-Looking Statements Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions, expectations about the use of proceeds from the Offering and final acceptance from the TSX. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the inability of the Company to apply the use of proceeds from the Offering as anticipated, the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects pandemics or other global events on the business of the Company, including but not limited to the effects of the same on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
American Rare Earths Advances Permitting at Cowboy State Mine
Completion of groundwater monitoring wells marks a key milestone in securing a state mining permit HIGHLIGHTS 10 groundwater monitoring wells successfully installed across the CSM site Baseline environmental and groundwater data now being collected Permitting is advancing on Wyoming State land, which offers a streamlined and efficient approval pathway Collected data will support both mine permit applications and the Pre-Feasibility Study (PFS) The PFS is on track for completion in late 2025 ARR is advancing one of the largest and most strategically significant rare earth projects in the United States, underpinned by a 2.63 billion tonne JORC Resource1 DENVER, May 28, 2025 (GLOBE NEWSWIRE) -- American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) ('ARR' or 'the Company') is pleased to announce that groundwater monitoring wells have now been successfully installed at the Cowboy State Mine, part of the Halleck Creek Rare Earths Project in Wyoming, USA. This represents a significant step forward in the environmental permitting process with the Wyoming Department of Environmental Quality (WDEQ), a requirement for progressing the Company's state mining permit application. Water quality collection methods and analysis are being conducted in accordance with guidelines defined by the WDEQ. Located on State-managed land, the Cowboy State Mine benefits from a significantly simplified permitting framework compared to projects on Federal lands. The groundwater wells will now be monitored for a full year to generate required baseline hydrological and environmental data. This data will inform groundwater modelling, mine planning, and ultimately support the formal submission of the mining permit application. Planning is also underway for 24-hour pump testing, which is a key requirement for permit approval. The testing will measure water flow, aquifer connectivity, and potential mine dewatering needs. Chris Gibbs, CEO of American Rare Earths, said:'The installation of these groundwater monitoring wells is an important milestone in the Cowboy State Mine permitting pathway. This work underpins our environmental approvals process and further validates our strategy of developing on State land, which is a major competitive advantage in the U.S. market. We remain on track to complete the Pre-Feasibility Study by the end of 2025, as we continue to build momentum toward our target of first production as early as 2029.' Next Steps Quarterly groundwater sampling and analysis to continue throughout the 12-month monitoring period Completion of 24-hour pump tests to support groundwater modelling Formal mine permit application expected to be submitted in parallel to data collection CSM Pre-Feasibility Study progressing on schedule for delivery in late 2025 ARR remains focused on advancing one of the largest and most strategically significant rare earth projects in the United States, supporting the nation's efforts to develop a secure, sustainable critical minerals supply chain. This release was authorized by the Board of American Rare Earths. Investors can follow the Company's progress at About American Rare Earths Limited: American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) is a critical minerals company at the forefront of reshaping the U.S. rare earths industry. Through its wholly owned subsidiary, Wyoming Rare (USA) Inc. ('WRI'), the company is advancing the Halleck Creek Project in Wyoming—a world-class rare earth deposit with the potential to secure America's critical mineral independence for generations. Located on Wyoming State land, the Cowboy State Mine within Halleck Creek offers cost-efficient open-pit mining methods and benefits from streamlined permitting processes in this mining-friendly state. With plans for onsite mineral processing and separation facilities, Halleck Creek is strategically positioned to reduce U.S. reliance on imports—predominantly from China—while meeting the growing demand for rare earth elements essential to defense, advanced technologies, and economic security. As exploration progresses, the project's untapped potential on both State and Federal lands further reinforces its significance as a cornerstone of U.S. supply chain security. In addition to its resource potential, American Rare Earths is committed to environmentally responsible mining practices and continues to collaborate with U.S. Government-supported R&D programs to develop innovative extraction and processing technologies for rare earth elements. For further information contact: Susan AssadiMedia Relations USsassadi@ 977 7125 Beverly JedynakInvestor Relations 943 1123 1 ASX Announcement – 4 February 2025Sign in to access your portfolio
Cision Canada
28-05-2025
- Business
- Cision Canada
Mayfair Provides Update on 2025 Metallurgical Test Results Supporting the Fenn-Gib Pre-Feasibility Study
VANCOUVER, BC, May 27, 2025 /CNW/ - Mayfair Gold Corp. ("Mayfair", "Mayfair Gold" or the "Company") (TSXV: MFG) (OTCQX: MFGCF) is pleased to provide an update on the recent results of the metallurgical test program conducted to advance the Pre-Feasibility Study ("PFS") for the Fenn-Gib Gold Project ("Fenn-Gib" or the "Project"). The PFS work is focused on advancing Fenn-Gib based on a 4,800 tonne-per-day ("tpd") process plant supported by an open pit mining operation targeting a high-grade starter zone of mineralization. The 2025 metallurgical test program commenced in early 2025 and continued through the second quarter. The test work evaluated the performance of fifty composite samples selected to represent the variability of the overall deposit lithologies, across a head grade range of 0.20 to 9.92 g/t gold. The variability test program was designed to evaluate key operational parameters, including flotation feed grind size (comminution), flotation retention time, flotation reagents, concentrate regrinding, and concentrate cyanidation requirements. The insights gained from this test program will support process plant design by informing equipment selection, operational cost estimates, and expectations for overall gold recovery. Testing was undertaken at SGS Laboratories (Lakefield, ON) with the support of Steve Haggarty, of Haggarty Technical Services (Burlington, ON). The findings confirmed the suitability of an 80% passing 106-micron product grind size to feed sulphide/gold rougher flotation, determined the optimal flotation retention time, and identified the required concentrate regrind size range (80% passing 9 to14-microns) for gold extraction applying carbon-in-leach (CIL) cyanidation. Metallurgical testing results demonstrate excellent gold recovery in rougher flotation concentrate across all flotation feed grades, achieving between 94-97% recovery of gold to the concentrate. After rougher concentrate regrind and cyanidation, the tests indicate an overall metallurgical gold recovery of approximately 82.5% at a feed grade of 0.8 g/t and 88.4% at 1.5 g/t. Nick Campbell, President and CEO of Mayfair Gold, stated, "This testwork marks a significant milestone in the advancement of the Fenn-Gib Project. The results are instrumental in determining the predicted metallurgical recovery, and importantly, validated a largely conventional process flow sheet including crush and grind, rougher flotation, concentrate regrind and cyanidation for the Project PFS. With this phase of metallurgical testing along with the past work, we have improved confidence going into the PFS and have appropriately defined metallurgical performance for the 4,800 tonne per day plant targeting a feed grade of 1.2 g/t to 1.7g/t gold for the high-grade open pit designs." Approximately 35% of the gold within the Fenn-Gib deposit is present as free fine-grained gold, while the majority is associated with pyrite, occurring as inclusions and disseminations ranging from 2 to 26 microns in size. A small fraction of the deposit mineralization contains gold at microscopic levels as a solid solution. Ongoing studies at Process Mineralogical Consulting Ltd. ("PMC") in Vancouver will define the deportment of the more finely disseminated gold grains. The PFS is designed to target a high-grade open pit during the initial years of production. Stockpiling strategies may be incorporated into potential future plans for project phasing to a larger-scale operation. Unlocking this optionality may be achieved through metallurgical performance insights in optimizing long-term recovery and efficiency. The results from the successful 2025 metallurgical test program, along with the near-term development of improved geological modeling (alteration, lithological and structural interpretation) will contribute to the PFS scheduled to be completed by year-end 2025. Technical Disclosure All metallurgical test work in referenced in this press release has been completed by SGS Laboratories, based in Lakefield, ON, Canada. Data verification consisted of ensuring that the samples selected came from within the area where Mineral Resources were estimated. The Qualified Person (" QP") checked that the sampling protocol used was applicable for the planned testwork. In the QP's opinion, the testwork conducted was completed by a reputable metallurgical testing facility and used industry-standard methods. Qualified Persons Steve Haggarty, P. Eng (Haggarty Technical Services Corp.), independent of the Company and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical information in this news release. About Mayfair Gold Mayfair Gold is a Canadian mineral exploration company focused on advancing the 100% controlled Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair's flagship asset and currently hosts an updated NI 43-101 open pit constrained mineral resource estimate with an effective date of September 3, 2024 with a total Indicated Resource of 181.3M tonnes containing 4.3M ounces at a grade of 0.74 g/t Au and an Inferred Resource of 8.92M tonnes containing 0.14M ounces at a grade of 0.49 g/t Au at a 0.30 g/t Au cut-off grade. Please see the Company's news release dated September 10, 2024, for further information. The scientific and technical content of this news release was reviewed, verified, and approved by Drew Anwyll, Chief Operating Officer of the Company, and a Qualified Person as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Cautionary Notes to U.S. Investors Concerning Resource Estimates. This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the U.S. securities laws. In particular, and without limiting the generality of the foregoing, the terms "inferred mineral resources," "indicated mineral resources" and "mineral resources" used or referenced in this presentation are Canadian mineral disclosure terms as defined in accordance with NI 43-101 under the guidelines set out in the 2014 Canadian Institute of Mining, Metallurgy and Petroleum Standards for Mineral Resources and Mineral Reserves, Definitions and Guidelines, May 2014 (the "CIM Standards"). The CIM Standards differ from the mineral property disclosure requirements of the U.S. Securities and Exchange Commission (the "SEC") in Regulation S-K Subpart 1300 (the "SEC Modernization Rules") under the U.S. Securities Act of 1933, as amended (the "Securities Act"). As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards. Accordingly, the Company's disclosure of mineralization and other technical information may differ significantly from the information that would be disclosed had the Company prepared the information under the standards adopted under the SEC Modernization Rules. Forward Looking Information This news release contains forward-looking information which reflects management's expectations regarding the Company's growth, results of operations, performance and business prospects and opportunities. Forward-looking statements in this news release include, but are not limited to, statements regarding the design, development and execution of the Fenn-Gib Gold Project, the timing for completion of the PFS, the advancement of the Fenn-Gib Gold Project to operation and the timing thereof, the Company's ability to unlock value for its stakeholders, and the advancing of environmental approvals and project designs, the ability of the starter pit to provide free cash flow and the ability to help pay down debt in the early stages of operation, and the ability of the Company to commence detailed engineering work immediately following completion of the PFS. Forward-looking information is based on various reasonable assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; that the Company can access financing, appropriate equipment and sufficient labour; and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should underlying assumptions prove incorrect, or one or more of the risks and uncertainties described below materialize, actual results may vary materially from those described in forward-looking statements. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; delays or the inability to obtain necessary governmental permits or financing; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labor disputes or other unanticipated difficulties with or shortages of labor; failure of plant, equipment or processes to operate as anticipated; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, gold price fluctuations; uncertain political and economic environments; and changes in laws or policies. The Company undertakes no obligation to publicly update or review the forward-looking statements whether as a result of new information, future events or otherwise, other than as required under applicable securities laws. The forward-looking statements reflect management's beliefs, opinions and projections as of the date of this news release. Neither the TSX Venture Exchange (" TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. SOURCE Mayfair Gold Corp.
