Latest news with #SpanishMountainGoldLtd
National Post
a day ago
- Business
- National Post
Spanish Mountain Gold Announces Grant of Stock Options
Article content VANCOUVER, British Columbia — Spanish Mountain Gold Ltd. (the ' Company ' or ' Spanish Mountain Gold ') (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) announces that it has granted 2,860,500 stock options to officers and directors of the Company and 221,500 stock options to employees and consultants pursuant to the terms of the Company's stock option plan. Each option entitles the holder to acquire one Common Share at an exercise price of $0.175 per Common Share for ten years. Article content About Spanish Mountain Gold Ltd. Article content Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. The Company expects to release at the end of Q2, 2025, the results for the Project's newly de-risked and optimized Preliminary Economic Assessment (PEA) with an updated Mineral Resource Estimate (MRE). Upon receipt of the new PEA and updated MRE, the company will decide the next steps to advance the Project to position the company to make a construction decision in or before 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on Article content Article content and on the Company's website: Article content . Article content On Behalf of the Board, Article content 'Peter Mah' Article content Spanish Mountain Gold Ltd. Article content Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Article content FORWARD-LOOKING INFORMATION: Article content Certain of the statements and information in this press release constitute 'forward-looking information'. Any statements or information 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', 'anticipates', 'believes', 'plans', 'estimates', 'intends', 'targets', 'goals', 'forecasts', 'objectives', 'potential' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information. Article content Article content Article content Article content For more information, contact: Article content Article content Article content Article content
Business Wire
a day ago
- Business
- Business Wire
Spanish Mountain Gold Announces Grant of Stock Options
VANCOUVER, British Columbia--(BUSINESS WIRE)--Spanish Mountain Gold Ltd. (the " Company" or " Spanish Mountain Gold") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) announces that it has granted 2,860,500 stock options to officers and directors of the Company and 221,500 stock options to employees and consultants pursuant to the terms of the Company's stock option plan. Each option entitles the holder to acquire one Common Share at an exercise price of $0.175 per Common Share for ten years. About Spanish Mountain Gold Ltd. Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. The Company expects to release at the end of Q2, 2025, the results for the Project's newly de-risked and optimized Preliminary Economic Assessment (PEA) with an updated Mineral Resource Estimate (MRE). Upon receipt of the new PEA and updated MRE, the company will decide the next steps to advance the Project to position the company to make a construction decision in or before 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on and on the Company's website: On Behalf of the Board, 'Peter Mah' President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING INFORMATION: Certain of the statements and information in this press release constitute "forward-looking information". Any statements or information 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", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
Ottawa Citizen
25-04-2025
- Business
- Ottawa Citizen
Spanish Mountain Gold Reports Near Surface High Grade Gold Intercepts in the K
Article content VANCOUVER, British Columbia — Spanish Mountain Gold Ltd. (the ' Company ' or ' Spanish Mountain Gold ') (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to report high grade gold intercepts and the highest grade encountered to date in exploration history at the Spanish Mountain Gold project, which is located in the Cariboo Gold Corridor, British Columbia, Canada. The 10,000 m, 2025 winter exploration diamond drill program ('2025 Winter Drill Program') is comprised of 31 holes and 73% complete. Article content Article content Article content Hole 25-DH-1286 intersected 139.00 m grading 4.18 g/t Au from 56.00 m including, from 163.00 m, grades of 719.26 g/t Au over 0.75 m, and from 165.10 m, 156.80 g/t Au over 3.50 m Hole 25-DH-1284 intersected 55.70 m grading 0.41 g/t Au from 126.00 m including, from 172.00 m, 9.70 m grading 1.83 g/t Au and 1.00 m grading 12.13 g/t Au Hole 25-DH-1285 intersected 39.00 m grading 0.99 g/t Au from 113.00 m including 1.00 m grading 34.59 g/t Au Article content Visible gold (VG) was observed in multiple drill holes, confirming the high-grade nature of the K Zone Target (See Figure 3) Article content Julian Manco, Spanish Mountain Gold's Director of Exploration commented, 'These exceptional results validate our new geological model, extend mineralization and highlight the significant potential for more high-grade mineralization within our project area. The high grades encountered in hole 25-DH-1286 are truly remarkable and demonstrate an extraordinary upside potential for the Spanish Mountain Gold project.' Article content Peter Mah, Spanish Mountain Gold's President, CEO and Director commented, 'We are thrilled to take a major leap forward unlocking near surface high-grade gold intercepts that support the growing understanding of our high-quality deposit and signal exciting new possibilities for high grade open pit gold discovery within 200 m of surface' Article content Table 1: 2025 Winter Drill Program – Summarized Gold Assay Results Article content Notes: Article content Article content Abbreviations: metres = m, grams per tonne = g/t, gold = Au Article content Drill Core Processing, Data Verification and Quality Assurance – Quality Control Program (QAQC) Article content Once received from the drill and processed, all drill core samples were sawn in half, labeled, and bagged. The remaining half of the drill core was securely stored on-site. Numbered security tags were applied to sample shipments to ensure chain of custody compliance. The Company inserts quality control (QC) samples at regular intervals, including blanks and reference materials, for all sample shipments to monitor laboratory performance. Standards and blanks account for a minimum of 15% of the samples in addition to the laboratory's internal quality assurance programs. The QAQC program was overseen by the Company's Qualified Person, Julian Manco, Director of Exploration (as described below). Article content Drill core samples were submitted to MSALABS' analytical facility in Prince George, British Columbia, for sample preparation and PhotonAssay TM analysis. The MSALABS facilities are accredited to the International Standards ISO/IEC 17025 and ISO 9001 standard for gold and multi-element assays, with all analytical methods incorporating quality control materials at defined frequencies and established data acceptance criteria. MSALABS Inc. is independent of the Company. Article content PhotonAssay TM Article content The PhotonAssay TM method utilizes gamma ray analysis for gold detection using the Chrysos PhotonAssay TM instrument (PA1408X). This non-destructive, fully automated technique offers high accuracy for analyzing ores and pulps. Sample preparation begins with drying and crushing up to 1 kg of material to achieve at least 70% passing through a 2-millimetre (mm) sieve. The sample is then riffle split to obtain a suitable aliquot for 2 testing cycles (MSALABS Method CPA-Au1). Article content The PhotonAssay TM instrument bombards 400 – 600 gram samples contained in sealed containers with gamma rays. These containers remain sealed throughout the process, preserving the sample for potential further testing. The analysis is performed robotically, with results that integrate into existing laboratory management systems. Article content Each sample is accompanied by a reference disc traceable to a Certified Reference Material (CRM). Both the sample and reference disc undergo gamma ray exposure, with signals detected and analyzed to ensure accurate and reliable results.
Business Wire
21-04-2025
- Business
- Business Wire
Spanish Mountain Gold Reports Initial Drill Results, Multiple Near Surface and High-grade Intercepts
VANCOUVER, British Columbia--(BUSINESS WIRE)--Spanish Mountain Gold Ltd. (the " Company" or " Spanish Mountain Gold") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to provide the first set of near surface and high-grade results from the 2025 winter exploration diamond drill program (' 2025 Winter Drill Program ') for the Spanish Mountain Gold project located in the Cariboo Gold Corridor, British Columbia, Canada. Highlights: Main Zone – drilling demonstrated potential for higher grades over long intervals within the historical 2021 pit constrained resource: Hole 25-DH-1281 intersected 123.00 metres (m) grading 1.08 grams per tonne (g/t) gold (Au) from 102.00 m including an interval of 47.28 m grading 2.29 g/t Au containing 4.00 m grading 6.45 g/t Au, 2.00 m grading 24.56 g/t Au and 2.00 m grading 10.41 g/t Au. Visible gold (VG) was encountered at a hole depth of 218.00 m in quartz veins. Outcropping Tuff – a step-out drill hole on a new near surface target with several high-grade intercepts reinforces gold mineralization growth potential: Hole 25-DH-1275 intersected 62.20 m grading 0.60 g/t Au, including 5.04 m grading 4.69 g/t Au containing 1.95 m grading 9.72 g/t Au and 0.44 m grading 10.49 g/t Au from 21.00 m. Phoenix - a large, mineralized target near surface with high grade sections: Hole 25-CCR-049 intersected 105.90 m grading 0.41 g/t Au, including 4.00 m grading 4.71 g/t Au from 74.95 m, Hole 25-CCR-050 yielded 246.50 m grading 0.38 g/t Au from 45.00 m, including 3.00 m grading 3.35 g/t Au and 9.30 m grading 1.76 g/t Au, Hole 25-CCR-051 intersected 164.67 m grading 0.27 g/t Au from 80.50 m, including 35.35 m grading 0.59 g/t Au, 10.00 m grading 1.36 g/t Au and 2.00 m grading 5.27 g/t Au. VG was encountered at 126.86 m hole depth in a 0.02 m wide quartz vein. Drill Objectives and Results Summary: Main zone: Drill holes 25-DH-1281 and 25-DH-1282 investigated the top third argillite while testing stratigraphical controls within the 2021 pit constrained resource. These findings support the more optimal drill hole orientation (refer to Table 2 below), which has a higher likelihood of intersecting various mineralization controls within the stratigraphic sequence of the Main Zone including lithology contacts, faults, and steeper high-grade structures. These controls were identified during our 2024 re-logging program, which yielded a new three-dimensional geological and structural model: Hole 25-DH-1281 encountered 197.00 m grading 0.72 g/t Au containing 123.00 m grading 1.08 g/t Au. Hole 25-DH-1282 yielded 211.90 m at 0.36 g/t Au including 100.30 m grading 0.52 g/t Au, containing 16.00 m grading 1.43 g/t Au and within the 16.00 m, 4.00 m grading 2.76 g/t Au. Additionally, starting at 360.30 m depth, the hole intersected 5.70 m grading 2.52 g/t Au. Outcropping Tuff Target a step-out drill hole was completed 1,350 m northwest of the 2021 PFS pit constrained resource to test for broad near surface gold mineralization and high-grade: Hole 25-DH-1275 successfully encountered near-surface and high-grade mineralization in a mafic tuff which is a newly emerging gold host rock type at the project and is interpreted to be like the tuff identified in the upper part of the main deposit and at Phoenix. This hole encountered 62.20 m grading 0.60 g/t Au, including 5.04 m grading 4.69 g/t Au, 1.95 m grading 9.72 g/t Au, and 0.44 m grading 10.49 g/t Au from 21.00 m. This hole confirms the potential for more property-wide near surface open pit type gold mineralization that could offer an attractive alternative to deeper mineralization. Phoenix Target: Drill holes 25-CCR-049, 25-CCR-050, and 25-CCR-051 were drilled to follow up a large target discovered in 2011 (refer to press release dated December 7, 2011, 'Spanish Mountain Gold Announces Discovery of New Gold Zone') and successfully intersected extensive gold mineralization with large intercepts including high grade sections: Hole 25-CCR-049 encountered 105.90 m grading 0.41 g/t Au, including 4.00 m grading 4.71 g/t Au from 74.95 m. Hole 25-CCR-050 yielded 246.50 m grading 0.38 g/t Au, including 3.00 m grading 3.35 g/t Au and 9.30 m grading 1.76 g/t Au from 45.00 m. Hole 25-CCR-051 intersected 164.67 m grading 0.27 g/t Au from 80.50 m, including 35.35 m grading 0.59 g/t Au, 10.00 m grading 1.36 g/t Au and 2.00 m grading 5.27 g/t Au. Slipper Zone: Drill holes 25-DH-1278, 25-DH-1279, 25-DH-1280 and 25-DH-1283 followed up on the Slipper Zone extending gold mineralization 320 m towards the northwest of the 2021 resource pit outline and included higher-grade mineralization intervals: Hole 25-DH-1279 intersected 78.00 m grading 0.31 g/t Au from 87.00 m including 5.00 m grading 1.51 g/t Au. 25-DH-1283 intersected 5.80 m grading 1.00 g/t Au and 3.20 m grading 1.13 g/t Au from 127.20 m and 173.00 m respectively, along a cataclastic argillite control. Peter Mah, Spanish Mountain Gold's President & CEO commented, 'In addition to accelerating the Project towards a build decision by 2027, we are extremely encouraged by the initial 2025 drill results that continue to demonstrate the significant, low cost to drill, growth potential for increasing near surface and high-grade gold mineralization beyond the 2021 pit constrained resource.' Detailed Target Descriptions and Results: Main Zone Drill holes 25-DH-1281 and 25-DH-1282 (Figure 2 top right inset) were collared in the main zone and targeted the continuity of the near-pit bottom mineralization. The gold mineralization in drillholes 25-DH-1281 and 25-DH-1282 is hosted primarily in argillite in contact with greywacke in proximity to a faulted zone and exhibits a direct association with quartz plus galena veining. Hole 25-DH-1281 encountered 197.00 m grading 0.72 g/t Au including 123.00 m grading 1.08 g/t Au, while 25-DH-1282 yielded 211.90 m at 0.36 g/t Au including 100.30 m grading 0.52 g/t Au containing 16.00 m grading 1.43 g/t Au and 4.00 m grading 2.76 g/t Au. In both 25-DH-1281 and 25-DH-1282, the grades are linked to quartz veins occurring in proximity to lithological boundaries. Outcropping Tuff Target Drill hole 25-DH-1275 (Figure 2 top left inset and Figure 3) was collared approximately 1,350m northwest of the 2021 pit constrained resource (refer to the Spanish Mountain Gold Project - Prefeasibility Study (PFS) and Mineral Resource Estimate, and associated NI 43-101 Technical Report, effective date May 10, 2023, available on the Company's website or under the Company's profile on Mineralization intercepted by 25-DH-1275 in the Outcropping Tuff Target occurs in Quartz, Galena, and Sphalerite veins hosted within volcanic rocks, specifically within a Mafic Tuff unit displaying intense sericite-chlorite alteration accompanied by quartz and fuchsite. The hole encountered 62.20 m grading 0.60 g/t Au, including 5.04 m grading 4.69 g/t Au containing 1.95 m grading 9.72 g/t Au and 0.44 m grading 10.49 g/t from 21.00 m. Oriented core data indicates the presence of two distinct sets of veining: high-angle and lower-angle veins. Further exploration of this promising zone is anticipated. The Phoenix Target Figure 3 illustrates drill hole 25-CCR-049 intercepted multiple quartz + galena and pyrite veins hosted in a mafic Tuff unit, yielding 105.90 m grading 0.41 g/t Au, including 4.00 m grading 4.71 g/t Au starting at 74.95 m depth. Similarly, a 200.00 m step-out to the northwest in hole 25-CCR-050 yielded 246.50 m grading 0.38 g/t Au, including 3.00 m grading 3.35 g/t Au and 9.30 m grading 1.76 g/t Au starting at 45.00 m depth. Finally, Drill hole 25-CCR-051 a 140.00 m step out to the southeast of 25-CCR-050 intersected 164.67 m grading 0.27 g/t Au including 35.35 m grading 0.59 g/t Au containing 10.00 m grading 1.36 g/t Au, and 2.00 m grading 5.27 g/t Au. At the time of this press release, exploration continues with two drills active in this target area. The 2025 Winter Drill Program on the Phoenix Target revealed the presence of mineralized argillite including cataclastic horizons that were not previously identified in this area. Slipper Zone Refer to the bottom inset in Figure 2. Drill hole 25-DH-1279 was collared 97.00 m northwest of drill hole 24-DH-1267 from 2024, to follow up on high-grade intercepts which demonstrated potential to extend near-pit mineralization of the Slipper Zone to the northwest. 25-DH-1279 intersected 78.00 m grading 0.31 g/t Au including 5.00m grading 1.51 g/t Au from 87.00 m and 25-DH-1283 intersected 5.80 m grading 1.00 g/t Au and 3.20 m grading 1.13 g/t Au from 127.20 m and 173.00 m, respectively. The gold mineralization style encountered in drill holes 25-DH-1277, 25-DH-1278, 25-DH-1279, and 25-DH-1280 mostly occurs within the Upper Argillite and the newly defined cataclastic argillite structure (upper cataclastic argillite). The continuity of the cataclastic argillite structure has been confirmed for 300.00 m along a northwest strike and remains open in that direction, as well as down-dip toward the northeast. Exploration continues along this structure. Table 1: 2025 Winter Drill Program – Summarized Gold Assay Results Drillhole ID From To Width(m) Gold Grade (g/t Au) 25-DH-1279 87.00 165.00 78.00 0.31 including 160.00 165.00 5.00 1.51 25-DH-1279 337.00 348.00 11.00 0.45 25-DH-1279 356.00 359.00 3.00 0.18 25-DH-1279 376.00 391.00 15.00 0.24 25-DH-1280 97.00 103.24 6.24 0.40 25-DH-1280 124.00 142.50 18.50 0.29 25-DH-1281 28.00 225.00 197.00 0.72 including 28.00 39.00 11.00 0.18 25-DH-1281 49.00 53.50 4.50 0.20 25-DH-1281 73.00 79.50 6.50 0.28 25-DH-1281 102.00 225.00 123.00 1.08 including 106.00 121.00 15.00 0.65 including 141.00 188.28 47.28 2.29 including 141.00 145.00 4.00 6.45 including 141.00 143.00 2.00 24.56 including 171.00 173.00 2.00 10.41 25-DH-1281 321.00 325.00 4.00 0.36 25-DH-1281 451.00 454.00 3.00 0.16 25-DH-1282 33.10 245.00 211.90 0.36 including 33.10 133.40 100.30 0.52 including 105.00 121.00 16.00 1.43 including 114.00 118.00 4.00 2.76 25-DH-1282 274.00 280.30 6.30 0.31 25-DH-1282 324.00 343.00 19.00 0.24 25-DH-1282 360.30 366.00 5.70 2.52 25-DH-1282 433.00 438.00 5.00 0.28 25-DH-1283 127.20 133.00 5.80 1.00 25-DH-1283 173.00 176.20 3.20 1.13 25-DH-1283 291.00 295.72 4.72 0.20 25-CCR-049 74.95 180.85 105.90 0.41 including 74.95 92.15 17.20 0.64 including 176.85 180.85 4.00 4.71 25-CCR-049 321.00 325.00 4.00 0.26 25-CCR-049 553.00 559.00 6.00 0.42 25-CCR-050 45.00 291.50 246.50 0.38 including 45.00 50.00 5.00 2.13 including 125.50 128.50 3.00 3.35 including 275.60 284.90 9.30 1.76 25-CCR-050 339.00 347.00 8.00 0.33 25-CCR-051 66.95 70.50 3.55 0.28 25-CCR-051 80.50 245.17 164.67 0.27 including 124.00 128.00 4.00 0.90 including 125.00 160.35 35.35 0.59 including 140.00 150.00 10.00 1.36 including 148.00 150.00 2.00 5.27 including 211.00 216.00 5.00 1.07 25-CCR-051 262.50 266.00 3.50 0.17 25-CCR-051 309.21 312.14 2.93 0.45 25-DH-1275 21.00 83.20 62.20 0.60 including 78.16 83.20 5.04 4.69 including 78.16 78.60 0.44 10.49 including 81.25 83.20 1.95 9.72 25-DH-1275 362.15 371.50 9.35 0.19 25-DH-1276 113.45 237.80 124.35 0.18 including 233.90 237.80 3.90 0.82 25-DH-1276 351.50 355.00 3.50 0.38 25-DH-1276 406.00 501.25 95.25 0.33 including 489.75 496.25 6.50 1.09 25-DH-1276 672.70 693.20 20.50 0.20 25-DH-1276 716.85 728.60 11.75 0.30 25-DH-1277 46.00 50.00 4.00 0.18 25-DH-1278 65.00 70.50 5.50 0.18 25-DH-1278 73.30 77.00 3.70 0.18 25-DH-1278 110.00 115.21 5.21 0.16 25-DH-1278 127.70 131.00 3.30 0.25 25-DH-1278 137.06 142.00 4.94 0.42 Expand Notes: Reported intersections are calculated using a 0.15 g/t Au cut-off grade. The complete assay table is available on the Company's website Table 2: Drill Hole Collar Location and hole lengths Drill Core Processing, Data Verification and Quality Assurance – Quality Control Program (QAQC) Once received from the drill and processed, all drill core samples were sawn in half, labeled, and bagged. The remaining half of the drill core was securely stored on-site. Numbered security tags were applied to sample shipments to ensure chain of custody compliance. The Company inserts quality control (QC) samples at regular intervals, including blanks and reference materials, for all sample shipments to monitor laboratory performance. Standards and blanks account for a minimum of 15% of the samples in addition to the laboratory's internal quality assurance programs. The QAQC program was overseen by the Company's Qualified Person, Julian Manco, Director of Exploration (as described below). Drill core samples were submitted to MSALABS' analytical facility in Prince George, British Columbia, for sample preparation and PhotonAssay TM analysis. The MSALABS facilities are accredited to the International Standards ISO/IEC 17025 and ISO 9001 standard for gold and multi-element assays, with all analytical methods incorporating quality control materials at defined frequencies and established data acceptance criteria. MSALABS Inc. is independent of the Company. PhotonAssay TM The PhotonAssay TM CPA-Au1 method utilizes gamma ray analysis for gold detection using the Chrysos PhotonAssay TM instrument (PA1408X). This non-destructive, fully automated technique offers high accuracy for analyzing ores and pulps. Sample preparation begins with drying and crushing up to 1 kg of material to achieve at least 70% passing through a 2-millimetre (mm) sieve. The sample is then riffle split to obtain a suitable aliquot for analysis. The PhotonAssay TM instrument bombards 400 - 600 gram samples contained in sealed containers with gamma rays. These containers remain sealed throughout the process, preserving the sample for potential further testing. The analysis is performed robotically, with results that integrate into existing laboratory management systems. Each sample is accompanied by a reference disc traceable to a Certified Reference Material (CRM). Both the sample and reference disc undergo gamma ray exposure, with signals detected and analyzed to ensure accurate and reliable results. The method offers a gold detection range from 0.015 parts per million (ppm - lower limit) to 10,000 ppm (upper limit). Quality control includes the use of reference materials and blanks, with all results reviewed by a competent person before reporting. Spanish Mountain Gold implemented two QAQC methodologies to validate the accuracy of PhotonAssay TM results, both demonstrating good comparability: 1) comparative analysis of diverse mineralization styles using Total Au screen metallic methods with both FAS-415 (gravimetric finish) and FAS-211 (AAS finish), and 2) comprehensive testing of both sample aliquots and rejects using FAS-211 (AAS finish). QAQC Testing typically can include the following spot checks: 1) Pulverizing tests to evaluate variability in sample preparation, 2) Cross-analysis at external laboratories using screen metallic method, and 3) Four-cycle radiation testing to identify and calibrate potential variability in gold results with variable radiation intensity. Upon final QAQC checks on the preliminary initial results for hole 24-DH-1268 have been corrected to 29.00 m grading 0.60 g/t Au from 520.00 to 549.00 m including 1.27 g/t Au over 6.00 m and 0.99 g/t Au over 9.00 m. Results are available on the Company's website. Multi-Elemental Analysis For the 2025 drilling campaign Spanish Mountain Gold used IMS-230 method to provide multi-element determination using a four-acid digestion followed by ICP-OES and ICP-MS analysis. Key Process Steps: Sample Preparation: Samples are dried and ground to specific criteria (85% passing 75 microns (μm) for rocks and drill core; 180μm for soils and sediments). A homogeneous 10-gram sample is required. Digestion: Samples undergo sequential digestion with nitric, perchloric, hydrofluoric, and hydrochloric acids, followed by dilution with deionized water. Analysis: The solution is analyzed via ICP-OES and ICP-MS for multi-element quantification. Quality Control: The process includes reference materials, blanks, and duplicates, with corrections for spectral interferences and thorough review before final reporting. Julian Manco, has verified the data disclosed in this news release. The data verification process involved a multi-step approach to ensure accuracy and integrity. This included a detailed quality control (QC) analysis of the data, which was performed using both internal and external platforms, such as the MxDeposit™ software. These QC checks involved the analysis of certified reference materials (CRMs), blanks, and duplicates to confirm the reliability of the assay results. In addition, Mr. Manco, conducted a field inspection of the specific drill intervals mentioned in this release to directly observe the geological features and verified the nature of the results presented. Qualified Person Julian Manco, Director of Exploration with Spanish Mountain Gold, is the Qualified Person as defined under National Instrument 43-101 who has reviewed and has approved the contents of this news release. About Spanish Mountain Gold Ltd. Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. We are conducting an integrated Whittle Enterprise Optimization to identify the highest potential value-add improvements while increasing the understanding of the high-grade geologic controls and associated drill targets that could upgrade and expand the gold resource. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on and on the Company's website: On Behalf of the Board, 'Peter Mah' President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING INFORMATION: Certain of the statements and information in this press release constitute "forward-looking information". Any statements or information 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", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
Yahoo
21-02-2025
- Business
- Yahoo
Spanish Mountain Gold Announces Symbol Change to "SPAUF" on the OTCQB Venture Market
VANCOUVER, British Columbia, February 21, 2025--(BUSINESS WIRE)--Spanish Mountain Gold Ltd. (the "Company" or "Spanish Mountain Gold") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to announce it has changed its trading stock symbol in the United States ("U.S.") on the OTCQB Venture Market ("OTCQB"). The common shares previously listed under the symbol "SPAZF", will begin trading under the new symbol "SPAUF", effective today. The OTCQB Venture Market is the premier marketplace for early stage and developing U.S. and international companies including those in the mining and natural resources sectors. Companies listed on OTCQB are current in their reporting and undergo an annual verification and management certification process. Investors can find real-time quotes and market information for the Company on Options Issuance The Company announces it has granted 450,000 stock options to officers of the Company, including 150,000 options granted to its Vice President Investor Relations and Corporate Development. These options are exercisable at $0.135 per share for a 10-year term, subject to the provisions of the Company's stock option plan. About Spanish Mountain Gold Ltd. Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project to achieve a construction decision in 2027 to build the next gold mine in the Cariboo Gold Corridor, British Columbia. We are conducting an integrated Whittle Enterprise Optimization to identify the highest potential value-add improvements while increasing the understanding of the high-grade geologic controls and associated drill targets that could upgrade and expand the gold resource. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on and on the Company's website: On Behalf of the Board, "Peter Mah"President, Chief Executive Officer and DirectorSpanish Mountain Gold Ltd. Neither the 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 release. FORWARD-LOOKING INFORMATION: Certain of the statements and information in this press release constitute "forward-looking information". Any statements or information 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", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to achieving a construction decision, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information. View source version on Contacts For more information, contact: Suzette N Ramcharan(604) 601-3651info@
