Latest news with #VRIFY
Cision Canada
3 days ago
- Business
- Cision Canada
Analysts See 'Historic Dislocation' Between Gold Prices and Miner Valuations
Issued on behalf of RUA GOLD Inc. VANCOUVER, BC, June 6, 2025 /CNW/ -- USA News Group News Commentary – Gold mining stocks are still too cheap, according to analysts at JP Morgan. In their latest note, JP Morgan tentatively sees $4,100 per ounce gold prices for 2026, and based on that estimate foresees plenty of value in gold mining shares from larger producers all the way down the chain to small- and mid-cap companies. Analysts at Jefferies still think things are out of balance, pointing to a historic valuation gap, with many gold equities still priced as if bullion were stuck at $2,500 an ounce. As gold rises, other analysts are calling for a mining equities breakout, leading to extra attention on miners of all sizes, including RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF), Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF), 1911 Gold Corporation (TSXV: AUMB) (OTCBB: AUMBF), Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI), and Seabridge Gold (NYSE: SA) (TSX: SEA). According to analysts at Goldman Sachs, it's the central banks acting as a driving purchasing force behind the current record-breaking gold bull market, accumulating roughly 80 metric tons of gold a month worth ~$8.5 billion at current prices. With all the global uncertainty and turbulence, it's no surprise to analysts like George Milling-Stanley from State Street Global Advisors that gold will continue to make sense for investors for its attributes and potential. RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF) is advancing a portfolio of high-grade, district-scale gold projects in New Zealand—an emerging exploration hotspot with deep historical roots and modern infrastructure. The company recently announced new high-grade intercepts from its Cumberland project, including 1 metre at 26.9 g/t gold and another at 16.2 g/t, building on a previously returned 62.2 g/t gold, including a standout prior result of 1 metre at 1,911 g/t gold. These hits confirm the near-surface continuity of the Gallant vein system, which became RUA's first drill-tested target generated via VRIFY's AI-powered targeting platform. "From the very first drill holes, we intersected significant, wide quartz veins hosting high-grade gold, confirming historical intercepts," said Robert Eckford, CEO of RUA GOLD. "This marks an exciting start, validating the effectiveness of the VRIFY AI targeting process and confirming near-surface mineralization with the potential to extend the envelope of known mineralization across a 2km structural zone.. It's a major step forward for our hub-and-spoke strategy in Reefton… The Gallant prospect represents the first VRIFY AI target that we have drilled so far. This structure is traceable on surface for over 600m and remains largely untested along strike and at depth." Gallant sits just 3 km from the historic Globe Progress mine and features steeply dipping quartz veins up to 14 metres thick. Historic drill data from the area includes 20.7 metres of quartz with gold grades reaching 1,911 g/t near surface—highlighting the potential for a shallow, high-grade resource. RUA has now launched a follow-up program stepping 100 metres to the south, with assays pending. Beyond Gallant, RUA GOLD holds commanding control of the Reefton Goldfield, covering roughly 95% of a district that historically produced more than 2 million ounces of gold at grades between 9 and 50 g/t. The Auld Creek project continues to deliver encouraging results as well, with recent intercepts of 9.0 metres at 5.9 g/t gold equivalent and 1.25 metres at 48.3 g/t. Notably, only two of the four known mineralized shoots are currently included in the working model. Previous drilling has returned 12 metres at 12.2 g/t gold equivalent, including a 2-metre stretch at 54.8 g/t. Infographic - Auld Creek also hosts significant antimony mineralization—an increasingly strategic metal trading above US$50,000 per tonne. Surface samples have shown grades above 40% antimony, and drill holes have returned multiple intercepts over 8%. The New Zealand government's early 2025 declaration of antimony as a critical mineral further elevates the project's dual-metal value proposition. On the North Island, RUA GOLD is progressing its Glamorgan project in the Hauraki Goldfield, where a second surface campaign outlined three distinct gold-arsenic anomalies across a 4-kilometre corridor. Rock chip sampling returned up to 43 g/t gold, and CSAMT geophysical surveys identified resistive zones typical of quartz-rich vein systems. Drill access is in the final stages of approval, with targets prioritized through VRIFY's DORA AI engine. Backed by $5.75 million in capital and led by a leadership team with over $11 billion in past mining exits, RUA GOLD is aiming to uncover high-grade discoveries in underexplored terrain. With multiple active programs, AI-guided targeting, and a pipeline of assays and agreements on the horizon, the company is positioning itself as one of New Zealand's most advanced early-stage gold explorers heading into 2025. In other industry developments and happenings in the market include: Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) recently intersected 7.0 metres grading 10.3 g/t gold equivalent (including 2.0 metres at 14.3 g/t AuEq) at its Wild Dog project in Papua New Guinea. "The first drill results from our Phase 1 drill program at Wild Dog did not disappoint," said Greg McCunn, CEO of Great Pacific Gold. "We now have a drill rig on the ground, a highly experienced technical team, and the infrastructure support in place to explore the potential of this system." The intercept came from WDG-02, drilled beneath a historic pit, confirming the presence of high-grade sulphide mineralization near surface. The current 2,500-metre drill campaign spans 16 planned holes across a 3-kilometre segment of a 15-kilometre target zone. Assays are pending from WDG-03, and hole WDG-04 is now in progress. 1911 Gold Corporation (TSXV: AUMB) (OTCBB: AUMBF) continues to expand its San Antonio West target at the True North project, returning standout grades such as 1.0 metre at 62.40 g/t gold and 2.1 metres at 8.81 g/t. "These follow-up holes at the San Antonio West target show evidence of several shear structures and also higher grades as we extend drilling to depth," said Shaun Heinrichs, CEO and President of 1911 Gold. "The results continue to show another parallel ore shoot to the San Antonio Mine vein system, similar to what we are seeing on the San Antonio Southeast target." The zone, hosted within the historically productive San Antonio gabbro, now shows gold mineralization across three parallel vein systems traced over 500 metres laterally and 260 metres vertically. The program supports the presence of a new ore shoot west of the historic San Antonio Mine, bridging toward the Cartwright resource. With 39 holes drilled to date and a 30,000-metre campaign planned, the company is prioritizing underground access and resource expansion. Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI) is advancing its Diamba Sud Project with fresh intercepts from the Southern Arc prospect, where drilling returned 13.6 meters at 8.6 g/t gold and 11.8 meters at 9.3 g/t. Infill drilling at nearby deposits also yielded high-grade intervals, such as 113.7 g/t gold over 6.4 meters at Area D and 28.8 meters at 3.0 g/t at Area A. "Our exploration work at Diamba Sud continues to yield strong results, particularly from areas with limited historical drilling," said Paul Weedon, Senior Vice President of Exploration at Fortuna Mining Corp."These results further reinforce the project's potential for near-term resource growth." Exploration remains active across several zones, including Moungoundi and Western Splay, where mineralization appears open along strike and at depth. All results will be included in the next resource update. Seabridge Gold (NYSE: SA) (TSX: SEA) has begun drilling at Snip North, a new copper-gold porphyry discovery at its Iskut Project in northwest British Columbia. "Last year's discovery at Snip North has given us clear direction on where to focus to deliver new resources in this year's program," said Rudi Fronk, Chairman and CEO of Seabridge Gold. "We are also targeting the source intrusion for this prospective resource which we expect to be rooted in a district-scale structural trend, named the Bronson Trend." The company plans to complete 8,000 metres of core drilling using three helicopter-portable rigs, targeting a maiden resource estimate and deeper source intrusions. Exploration will also assess other porphyry prospects within the district-scale Bronson Trend, where recent geophysics and mapping indicate multiple mineralized systems. The $13.4 million program builds on last year's success and reflects Seabridge's broader strategy to uncover large-scale porphyry systems beyond KSM. CONTACT: [email protected] (604) 265-2873 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for media corp, who has been paid a fee for an advertising contract with RUA Gold Inc. (forty five thousand dollars Canadian for a three month contract subject to the terms and conditions of the agreement from the company direct). MIQ has not been paid a fee for RUA Gold Inc. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also be 3rd parties who may have shares of RUA Gold Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY does not own any shares of RUA Gold Inc. but reserve the right to buy and sell, and will buy and sell shares of RUA Gold Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by RUA Gold Inc. Technical information relating to RUA GOLD Inc. has been reviewed and approved by Simon Henderson, CP, AUSIMM, a Qualified Person as defined by National Instrument 43-101. Mr. Henderson is Chief Operational Officer of RUA GOLD Inc., and therefore is not independent of the Company; this is a paid advertisement, we currently do not own any shares of RUA Gold Inc. but will likely buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Cision Canada
4 days ago
- Business
- Cision Canada
VIZSLA COPPER TO DEPLOY AI TECHNOLOGY ACROSS BC COPPER-GOLD PROJECTS
VANCOUVER, BC, June 5, 2025 /CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0) (" Vizsla Copper" or the " Company") is pleased to report that it has engaged with VRIFY Technology Inc. (" VRIFY"), to utilize DORA, the world's only AI-Assisted Mineral Discovery Platform to enhance and expand existing datasets, and accelerate and refine target definition. DORA will be deployed across Vizsla Copper's exciting portfolio of copper-gold projects all located in British Columbia. HIGHLIGHTS VRIFY uses advanced AI and proprietary algorithms to generate a prospectivity score — known as a VRIFY Prospectivity Score (VPS) — that identifies areas of potential copper and gold mineralization. DORA recently aided other exploration companies in identifying high-priority areas that were later validated through drilling. Vizsla Copper has an aggressive exploration season planned with field work already underway (see Vizsla Copper release dated May 28, 2025). "With the strategy to focus on discovery in 2025, we view DORA and the partnership with VRIFY as an additional cutting-edge tool to aid in guiding our exploration efforts" commented Craig Parry, Chairman and CEO. "With the treasury in strong shape we look forward to steady news flow as we advance our terrific land package through a combination of geophysics and drilling throughout the remainder of 2025." DORA: AI Predictive Modeling Vizsla Copper will utilize DORA, VRIFY's AI-Assisted Mineral Discovery Platform, to aid in its exploration efforts across its portfolio of exciting copper-gold projects (Figure 1). DORA leverages a combination of proprietary algorithms and datasets to generate a VRIFY Prospectivity Score (VPS), a predictive output used to rank and prioritize areas for possible base and precious metal mineralization. These outputs will be further validated by the Vizsla Copper technical team through systematic ground truthing which may include geochemical and geophysical surveys and drilling. Using DORA, Vizsla Copper will gain direct access to the web-based platform and be able to generate and iterate on their own predictive models, allowing for hands-on exploration targeting. About VRIFY VRIFY proves that AI in mineral exploration doesn't have to be a black box. Building on our successful visualization tool, we launched DORA, the world's only AI-Assisted Mineral Discovery Platform. DORA puts the power of AI into the hands of geoscientists, enabling them to find what others can't. Backed by a $12.5M Series B raise and trusted by hundreds of clients, VRIFY delivers results, including new discoveries and increased valuations for companies like Southern Cross Gold and RUA GOLD. We're pioneering a new category and accelerating exploration with the industry's most advanced AI and largest proprietary dataset. To learn more about VRIFY visit About Vizsla Copper Vizsla Copper is a Cu-Au-Mo focused mineral exploration and development company headquartered in Vancouver, Canada. The Company is primarily focused on its flagship Woodjam project, located within the prolific Quesnel Terrane, 55 kilometres east of the community of Williams Lake, British Columbia. It has three additional copper properties: Poplar, Copperview, and Redgold, all well situated amongst significant infrastructure in British Columbia. The Company's growth strategy is focused on the exploration and development of its copper properties within its portfolio in addition to value accretive acquisitions. Vizsla Copper's vision is to be a responsible copper explorer and developer in the stable mining jurisdiction of British Columbia, Canada and it is committed to socially responsible exploration and development, working safely, ethically and with integrity. Vizsla Copper is a spin-out of Vizsla Silver and is backed by Inventa Capital Corp., a premier investment group founded in 2017 with the goal of discovering and funding opportunities in the resource sector. Additional information about the Company is available on SEDAR+ ( and the Company's website ( Qualified Person The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Christopher Leslie, Ph.D., Technical Advisor for Vizsla Copper. Dr. Leslie is a Qualified Person as defined under the terms of National Instrument 43-101. 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 STATEMENTS The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof 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" or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to: obtaining required regulator approvals for the Copperview Acquisition and the RG Copper Acquisition; satisfying the requirements of the Underlying Option Agreement; the exploration and development of the Poplar Project, Woodjam Project, Redgold Project and Copperview Project; and the Company's growth and business strategies. Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. SOURCE Vizsla Copper Corp.
Yahoo
13-05-2025
- Business
- Yahoo
Golden Cross Resources to Utilize VRIFY's AI-Assisted Mineral Discovery Platform at Its Reedy Creek High-Grade Gold Project in Victoria, Australia
Summary: Golden Cross has acquired two tenements directly north of/contiguous to Southern Cross Gold's Sunday Creek gold discovery. Past drilling has revealed high-grade gold intercepts including 11m at 31.4 g/t gold and 2m at 174.42 g/t gold1, as well as significant gold mineralization along a recently defined ~3km long gold-in-soil geochemical anomaly. DORA, VRIFY's AI-Assisted Mineral Discovery Platform, transforms exploration data into expanded, multi-dimensional insights - revealing the regional-scale controls on gold mineralization and accelerating the path to discovery. The DORA platform recently assisted similar explorers in identifying areas of high-potential mineralization that were later confirmed through drilling. Vancouver, British Columbia--(Newsfile Corp. - May 13, 2025) - Golden Cross Resources Corp (TSXV: AUX) (OTC Pink: ZCRMD) ("Golden Cross" or the "Company") is pleased to announce that it is partnering with VRIFY Technology Inc. ("VRIFY") to leverage DORA, the world's only AI-Assisted Mineral Discovery Platform at the Reedy Creek Goldfield in Victoria, Australia. The partnership will use proprietary AI and predictive modelling to accelerate and maximize discovery potential on a property immediately north of Southern Cross Gold's Sunday Creek discovery. Figure 1: Golden Cross's recently acquired high-grade gold project in Victoria, Australia To view an enhanced version of this graphic, please visit: Golden Cross recently acquired a land package (the "Property") comprising two tenements covering an area of 445km2 (Figure 1) approximately 10km northeast of Southern Cross Gold's Sunday Creek gold discovery. The Property contains the historic Reedy Creek Goldfield, situated directly north of Sunday Creek, as well as multiple other historic goldfields and high-grade gold prospects (Figure 2). Past drilling at the Property revealed high-grade gold intercepts including 11m at 31.4 g/t gold and 2m at 174.42 g/t gold.1 Limited drilling between 2021-2024 by Great Pacific Resources also revealed significant gold mineralization along a recently defined ~3km long NW-SE gold-in-soil geochemical anomaly. Gold-in-soil anomalies are critical early indicators of mineralized systems, especially in epizonal deposits where gold is often closely associated with fault zones and vein swarms near surface. Figure 2: Golden Cross's high-grade gold project contains multiple prospects with proven gold mineralization To view an enhanced version of this graphic, please visit: DORA: Purpose-Built AI for Exploration Teams Golden Cross will integrate DORA, VRIFY's AI-Assisted Mineral Discovery Platform, to refine its exploration model and prioritize high-potential areas of mineralization. DORA leverages mineral-system-specific AI models and a proprietary industry dataset to generate the VRIFY Prospectivity Score (VPS) - a predictive output used to assess and rank zones of mineral potential. The Phase 1 diamond drill program at Reedy Creek, commencing in June 2025, will be guided by predictive models generated using DORA's proprietary algorithms. Through hypothesis testing, Golden Cross will leverage the platform to define a refined and defensible targeting strategy that reduces uncertainty and maximizes the value of Golden Cross's existing data. Figure 3: Example of VRIFY's AI-Assisted Mineral Discovery Platform, DORA To view an enhanced version of this graphic, please visit: Using DORA, Golden Cross will be able to generate detailed and comprehensive predictive models for the Company's planned Phase 1 diamond drilling program at the Reedy Creek Goldfield (Figure 4, 5). Figure 4: Significant historic drill results within Golden Cross's Reedy Creek exploration target Area. To view an enhanced version of this graphic, please visit: Figure 5: Golden Cross's Phase 1 diamond drilling program will commence at the Reedy Creek Goldfield in June 2025, targeting the Prince of Wales and Wieneroider prospects. To view an enhanced version of this graphic, please visit: "We believe our Reedy Creek Project is one of the most under-explored and high-potential gold systems in Victoria," said Matt Roma, CEO of Golden Cross. "With VRIFY's DORA platform, we're introducing a new standard of technical rigor and targeting precision to this project. Our objective is to deploy capital efficiently while maximizing the potential for discovery success - and VRIFY provides the strategic advantage to help us achieve exactly that." "Golden Cross is working in one of the world's most exciting and mineral-rich regions, surrounded by high-grade discoveries and active mines," said Steve de Jong, CEO and Co-Founder of VRIFY. "They're taking a thoughtful, data-first approach to exploration - one that leverages every advantage available, including AI. We're proud to support their team as they pursue new discoveries with the urgency and intelligence this kind of ground deserves." References: 1.) Refers to Fosterville South Exploration news release dated April 27, 2022 (link here) About VRIFY VRIFY proves that AI in mineral exploration doesn't have to be a black box. Building on our successful visualization tool, we launched DORA, the world's only AI-Assisted Mineral Discovery Platform. DORA puts the power of AI into the hands of geoscientists, enabling them to find what others can't. Backed by a $12.5M Series B raise and trusted by hundreds of clients, VRIFY delivers results, including new discoveries and increased valuations. We're pioneering a new category and accelerating exploration with the industry's most advanced AI and largest proprietary dataset. To learn more about VRIFY visit About Golden Cross Resources Golden Cross Resources (TSXV: AUX) (OTC Pink: ZCRMD) is a Canadian mineral exploration company engaged in the advancement of its "Reedy Creek" high-grade gold project (the "Project") in Victoria, Australia, which is comprised of two tenements of land located approximately 10km northeast of and contiguous to Southern Cross Gold's Sunday Creek gold discovery. Past drilling at the Project revealed high-grade gold intercepts including 11m at 31.4 g/t gold and 2m at 174.42 g/t gold1. Golden Cross plans to commence its Phase 1 diamond drill program at the historic Reedy Creek Goldfield in Q2 2025 to confirm and expand known high-grade gold mineralization. For more information visit: Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Mr. Alan Till, VP Exploration and a Qualified Person for Golden Cross Resources as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Till has examined information regarding the historical exploration at Golden Cross's "Reedy Creek" high-grade gold project, which includes his review of the historical sampling, analytical and procedures underlying the information and opinions contained herein. Management cautions that historical results were collected and reported by operators unrelated to Golden Cross and have not been verified nor confirmed by its Qualified Person; however, the historical results create a scientific basis for ongoing work in the Golden Cross property. Management further cautions that historical results, discoveries and published resource estimates on adjacent or nearby mineral properties, whether in stated current resource estimates or historical resource estimates, are not necessarily indicative of the results that may be achieved on the Golden Cross property. For Further Information Contact:Matt Roma, Director & CEO+1-778-736-3356info@ FORWARD LOOKING STATEMENTS This release may contain forward‐looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise. Such factors include, among others, risks related to: the results of the VRIFY study seeking new target areas at Reedy Creek; the ability of the Company to raise funds for exploration activities and property maintenance costs at Reedy Creek; reliance on technical information provided by third parties on any of our exploration properties; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis which is available under Company's SEDAR profile at: Although Golden Cross has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be 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. Golden Cross disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Error 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
24-03-2025
- Business
- Yahoo
New Found Gold Corp. Announces Initial Mineral Resource Estimate
Highlights: Indicated Mineral Resource: 18.0 million tonnes (Mt) grading 2.40 g/t Au1, for 1.39 million ounces (Moz). Inferred Mineral Resource: 10.7 Mt grading 1.77 g/t Au, for 0.61 Moz. Quality of Asset: High grade veins starting at surface with minimal overburden cover provides for quick, easy access and potential for selective mining opportunities. High-grade core: 73% of the ounces are contained in 24% of the tonnage in the indicated category within the Mineral Resource pit shells. Camp Potential: The initial MRE sits within a less than 5% portion of the 110 km long strike extent of the two major structures controlling gold mineralization, where numerous additional gold targets have been identified. Infill Potential: This initial MRE has clear potential for expansion between and within the initial MRE pit shells. Expansion Potential: Recently announced high-grade gold intersections beyond the initial MRE footprint demonstrates that gold mineralization remains open for expansion beyond this initial MRE both along strike and at depth, with most of the drilling focussed within the first 200 m of surface. Continued Advancement: Following the completion of additional metallurgical testwork, a preliminary economic assessment ("PEA") is planned for release in late Q2/25. VANCOUVER, BC, March 24, 2025 /PRNewswire/ - New Found Gold Corp. ("New Found Gold" or the "Company") (TSXV: NFG) (NYSE-A: NFGC) is pleased to announce an initial Mineral Resource Estimate ("MRE") for its 100% owned Queensway Gold Project ("Queensway" or the "Project"), located in Newfoundland and Labrador, Canada. Keith Boyle, CEO of New Found Gold commented: "This initial mineral resource estimate marks a pivotal moment for the Company, as it represents the first evaluation of gold mineralization at Queensway. The completion of this key step allows us to advance the Project, first with the completion of a PEA in late Q2/25 and potentially on to pre-feasibility and feasibility. While the economic evaluation is advancing, exploration of our highly prospective landholdings will continue, with the ultimate objective of building a major new gold mine in central Newfoundland." Melissa Render, President of New Found Gold commented: "Today's announcement validates our track record of systematic exploration leading to multiple discoveries at Queensway and supports that we are on the path to defining a significant gold deposit in a Tier 1 jurisdiction. The initial Mineral Resource estimate is located on a fraction of our highly prospective landholdings, and with ongoing exploration success we see excellent potential to grow the Project and unlock value both for shareholders and nearby communities." The MRE can be viewed in 3D on the Company's website or using VRIFY at: _____________________________ 1 g/t Au = grams of gold per tonne Initial MRE Overview:The initial MRE (Table 1) was prepared by SLR Consulting (Canada) Ltd. ("SLR") in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards and Canadian National Instrument 43-101 ("NI 43-101"). SLR is independent of New Found Gold. The following is the current Mineral Resource Estimate as at March 15, 2025 (the "Effective Date"). Table 1: MRE Summary (as at the Effective Date) Zone Category Tonnage (Mt) Grade (g/t Au) Contained Metal (Moz Au) Open Pit Indicated 17.3 2.25 1.25 Inferred 9.0 1.24 0.36 Underground Indicated 0.8 5.76 0.14 Inferred 1.7 4.44 0.25 Total Indicated 18.0 2.40 1.39 Inferred 10.7 1.77 0.61 Notes: 1. CIM (2014) definitions were followed for Mineral Resources. 2. Mineral Resources are estimated using a long-term gold price of US$2,200 per ounce, and a US$/C$ exchange rate of US$1.00 = C$1.43. 3. Open pit Mineral Resources are estimated at a cut-off grade of 0.3 g/t Au and constrained by a preliminary optimized pit shell with a pit slope angle of 45°, and bench height of 5 m. 4. RPEEE (as defined below) for underground Mineral Resources was demonstrated by constraining within reporting panels generated at a cut-off grade of 1.65 g/t Au, with heights (H) of 10 m, lengths (L) of 5 m and minimum widths of 1.8 m. 5. The optimized pit shell, underground reporting shapes, and cut-off grades were generated by assuming metallurgical recovery of 90%, standard treatment and refining charges, mining costs of C$5.0/t moved for open pit and C$120/t processed for underground, processing costs of C$20/t processed, and general and administrative costs of C$7.5/t processed. 6. Pierre Landry, of SLR, an independent Qualified Person who prepared the initial MRE is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Mineral Resource estimate 7. Bulk density within the vein and halo mineralization domains is 2.7 t/m³. 8. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 9. Numbers may not add due to rounding. Grade-Tonnage by Cut-off Grade:Table 2a and 2b show the variation in tonnes and grades at various gold cut-off grades ("COG") within the resource pit shell. At a gold cut-off grade of 2 g/t and within the resource pit shell, the Indicated Mineral Resource blocks total 3,854 thousand tonnes (kt) at a grade of 7.16 g/t Au for 887 thousand ounces (koz) and the Inferred Mineral Resource blocks total 993 kt at a grade of 4.16 g/t Au for 133 koz. This represents 73% of the contained ounces in only 24% of the tonnage for the indicated category only. The opportunity for high-grade starter pits will be investigated as part of the PEA. Table 2a: Open Pit Indicated Grade-Tonnage Table (as at the Effective Date) Indicated COG (g/t) Tonnage (kt) Au Grade (g/t) Au Metal (koz) 0.3 16,189 2.34 1,219 0.4 14,197 2.62 1,197 0.5 12,584 2.90 1,174 1.0 7,699 4.29 1,061 1.5 5,248 5.72 964 2.0 3,854 7.16 887 Table 2b: Open Pit Inferred Grade-Tonnage Table (as at the Effective Date) Inferred COG (g/t) Tonnage (kt) Au Grade (g/t) Au Metal (koz) 0.3 8,280 1.21 323 0.4 7,103 1.36 310 0.5 6,130 1.50 296 1.0 3,068 2.29 226 1.5 1,709 3.14 173 2.0 993 4.16 133 The resource database was closed on November 1, 2024 and contains 3,214 holes drilled by New Found Gold and previous operators, for a total of 723,387 m of which 550,949 m have assay intervals. The MRE incorporates multiple high-grade zones, including the Keats and Iceberg zones which has consistently returned significant gold intercepts in drilling. Open pit Indicated Mineral Resources are estimated to total 17.3 million dry metric tonnes (Mt) grading 2.25 g/t Au for 1.25 million ounces (Moz) of gold, and Inferred Mineral Resources are estimated to total 9 Mt grading 1.24 g/t for 0.36 Moz of gold (Table 1). The open pit MRE was reported within a preliminary optimized pit shell generated at a cut-off grade of 0.3 g/t Au. Underground Indicated Mineral Resources are estimated to total 0.8 Mt grading 5.76 g/t Au for 0.14 Moz of gold, and Inferred Mineral Resources are estimated to total 1.7 Mt grading 4.44 g/t for 0.25 Moz of gold. Underground Mineral Resources are constrained within reporting panels generated at a cut-off grade of 1.65 g/t and a minimum mining width of 1.8 m. The MRE is divided into Appleton Fault Zone Core ("AFZ Core"), Appleton Fault Zone Peripheral ("AFZ Peripheral") and JBP (Table 3), with 96% (by metal) of the Indicated Resource and 87% (by metal) of the Inferred Resource located within AFZ Core, for the total combined open pit and underground Mineral Resources. A conceptual operating scenario (for purposes of estimating cut-off grade inputs) includes: Conventional truck and shovel open pit mining.o Underground mining using narrow-vein longhole mining methods. Processing via crushing and grinding, gravity, sulphide flotation (when required), carbon in leach ("CIL"), elution and regeneration, and electrowinning gold recovery. Products will include primarily doré with a possible sulphide flotation concentrate. Exploration and Growth Potential: The Mineral Resource is reported constrained within a pit shell and underground reporting panels and shows strong continuity of mineralization. Recent drilling continues to intersect high-grade gold beyond the current Mineral Resource footprint, demonstrating significant expansion potential. The Company is preparing for an aggressive exploration campaign aimed at expanding the resource and further defining high-grade targets. Upcoming Milestones: Technical Report: The Technical Report (as defined below) in support of this MRE will be filed on the Company's website and SEDAR+ within 45 days of this news release. Drilling: The Company is currently finalizing plans for its 2025 drill program, which will include step-out and infill drilling, target delineation and exploratory drilling. Metallurgical Testwork: Additional testwork is underway to support a PEA. PEA: A PEA, which is also being prepared by SLR, is planned for release in late Q2/25. Permitting and Environmental Baseline Studies: Work is ongoing to support economic studies and future development. MRE Tabulations:The MRE is divided into AFZ Core (consisting of K2, Keats West, Keats, Iceberg and Lotto), AFZ Peripheral (consisting of Big Vein, Pristine, HM and Midway) and JBP (consisting of H Pond, 1744 and Pocket Pond), with 96% (by metal) of the indicated Mineral Resource and 87% (by metal) of the Inferred Mineral Resource located within AFZ Core as outlined in Table 3 and Figure 1. Table 3: MRE Tabulation by zone and area (as at the Effective Date) Zone Area CategoryTonnage (000 t) Grade (g/t Au) Contained Metal (000 oz Au)Open Pit K2, Monte Carlo AFZ Core Indicated3,588 1.51 175 Inferred 3,755 1.22 147 Keats West, Cokes, Powerline AFZ Core Indicated 4,392 1.85 261 Inferred 2,410 1.33 103 Keats, Keats South, Iceberg, Iceberg East, Iceberg Alley, Knob, Golden Bullet AFZ Core Indicated 7,004 2.94 662 Inferred 1,037 0.84 28 Lotto, Golden Joint, Jackpot, Honeypot AFZ Core Indicated 1,205 3.16 122 Inferred 1,078 1.31 45 Big Vein, Pristine, HM, Midway AFZ Peripheral Indicated 995 0.82 26 Inferred 474 1.56 24 H Pond, 1744, Pocket Pond JBP Indicated 83 1.54 4 Inferred 206 1.66 11 TotalIndicated 17,267 2.25 1,249 Inferred 8,960 1.24 358Underground K2, Monte Carlo AFZ Core Indicated32 3.02 3 Inferred335 2.78 30 Keats West, Cokes, Powerline AFZ Core Indicated - - - Inferred 28 2.76 3 Keats, Keats South, Iceberg, Iceberg East, Iceberg Alley, Knob, Golden Bullet AFZ Core Indicated 306 5.13 50 Inferred 660 4.53 96 Lotto, Golden Joint, Jackpot, Honeypot AFZ Core Indicated 303 6.97 68 Inferred 394 6.34 80 Big Vein, Pristine, HM, Midway AFZ Peripheral Indicated 100 5.42 17 Inferred 119 5.72 22 H Pond, 1744, Pocket Pond JBP Indicated 30 4.09 4 Inferred 214 2.79 19 TotalIndicated 771 5.76 142 Inferred 1,749 4.44 250Open Pit + Underground TotalIndicated18,038 2.40 1,392 Inferred 10,709 1.77 608 Queensway Geology and Structure:Queensway resides in the eastern Exploits Subzone of the Newfoundland Appalachians and is centered on a 110-km segment of the district-scale auriferous Appleton and JBP fault zones. The Appleton Fault is a major intraplate fault zone that separates rock packages of contrasting structural style and provides a first order control on gold mineralization. Second order subsidiary faults splay from the Appleton Fault with consistent geometry, orientation and kinematics that repeat throughout the deposit area. They host laminated shear and associated extensional vein arrays as well as hydraulic breccias with large well-developed vugs. Veins consist of quartz, ankerite, chalcopyrite, boulangerite/bournonite, arsenopyrite and pyrite and are associated with NH4 muscovite alteration. The Keats-Baseline Fault is a highly prospective northeast striking secondary fault with an interpreted strike length of 1.9 km. In 2019, while exploring the Keats-Baseline Fault a broad array of visible gold bearing veins was intercepted in what is now the Keats Zone. Since 2019, New Found Gold has discovered key high-grade zones such as Iceberg, Keats West, Golden Joint, Lotto, Jackpot, K2, Monte Carlo, (all within AFZ Core), as well as Golden Dome, Pistachio and Dropkick, where the majority of results were received by the Company after the initial resource database was closed. MRE Methodology and Parameters:Reasonable prospects for economic evaluation ("RPEEE") were demonstrated for the reported MRE by constraining the open pit MRE with a preliminary optimized pit shell, while the underground MRE were constrained within reporting panels. Open pit MRE were reported above a 0.3 g/t Au reporting cut-off grade. Underground MRE are constrained by reporting panels generated at a cut-off grade of 1.65 g/t Au and a minimum mining width of 1.8 m. For the purposes of open pit optimization, the block model was re-blocked to 5 m by 5 m by 5 m, while open pit Mineral Resources are reported from a block model regularized to the 2.5 m by 2.5 m by 5 m parent cell size. Underground reporting panels were generated from the original estimation sub-block model, with a minimum sub-block size of 0.625 m by 0.625 m by 1.25 m, which was also used to report the underground Mineral Resources. MRE classification was based primarily on drill hole spacings of up to approximately 30 m for Indicated Mineral Resources and up to approximately 60 m for Inferred Mineral Resources, which were applied to create continuous classification categories. High Grade RestrictionWithin AFZ Core high grade restrictions were applied, with the restriction process involving two key components, grade restriction threshold and restricted search dimensions. During estimation, composite values exceeding the grade threshold were permitted to have full influence within the restricted ellipsoid, while beyond this range, these values were capped to the threshold to limit their impact. This approach ensured that high-grade samples maintained local influence while preventing the over-projection of higher grades into lower-grade areas. SLR determined the impact of capping and high-grade restriction to be acceptable and necessary steps to prevent the smearing of high-grade samples throughout the estimate. MetallurgyNew Found Gold has completed two phases of metallurgical test work on the various mineralized zones. The initial test work evaluated three mineralized zones within the AFZ Core (Keats, Golden Joint, and Lotto). The next phase of work studied mineralization from the Iceberg and Iceberg East zones. See New Found Gold news releases dated April 3, 2024 and November 1, 2024 for additional information. In 2024, the Company began a third phase of testing using mineralized material also from the AFZ Core (Keats West), which was known to contain free gold and submicroscopic gold associated with pyrite and arsenopyrite. This material was also known to contain varying amounts of organic carbon. Reports are still pending and preliminary results have been provided to the Company for the purposes of the initial MRE. While test work to date has focussed on a gravity – CIL flowsheet, future test work will continue to investigate flotation for the recovery of refractory gold associated with pyrite and arsenopyrite into a sulphide concentrate that could potentially be processed on site or sold to a third party. Based on results received to date, a metallurgical recovery of 90% was applied across all deposits and grade ranges based on preliminary gravity, flotation, and CIL test work on samples from Keats, Golden Joint, Lotto, Iceberg, and Iceberg East, that demonstrated acceptable recoveries from samples using gravity-CIL test work, and improved recoveries of gold associated with sulphides by flotation where CIL of the gravity tails was inadequate (particularly from Keats West). Data VerificationThe data used in this Mineral Resource Estimate is supported by Quality Assurance and Quality Control ("QA/QC") procedures, such as the insertion of certified standards and blanks into the sample stream and the utilization of certified independent analytical laboratories for all assays. The QA/QC data and methodology on the project were reviewed and will be summarized in the NI 43-101 technical report. Pierre Landry, of SLR, an independent Qualified Person in accordance with the requirements of NI 43-101, has reviewed the adequacy of sample preparation, security, and analytical procedures conducted by New Found Gold from the start of the Queensway exploration programs in 2019 through to the Effective Date. This review found no material issues or inconsistencies that could adversely affect the quality or reliability of the data. The QP is of the opinion that: NFG's sample preparation procedures are appropriate for the deposit type and mineralization style. Analytical methods used, including fire assay, photon assay, and screen fire assay, are suitable for determining gold grades in the Project. The QA/QC program, which includes CRMs, blanks, and duplicates, is well-structured, meets industry standards, and provides confidence in the assay data. Sample security measures and chain of custody protocols are sufficient to ensure the integrity of the data. Overall, Pierre Landry, of SLR, an independent Qualified Person in accordance with the requirements of NI 43-101, is of the opinion that NFG's sampling, analytical methods, and QA/QC program meet industry standards and are suitable for use in the Mineral Resource estimate. Data verification for the drill hole database included comparing gold assay values used to support the Mineral Resource estimate against the original analytical certificates from ALS and MSALABS, the primary laboratories used by NFG between 2019 and 2024. The review covered a variety of assay methods including: fire assay with AAS or gravimetric finish, photon assay, and screen fire assay. SLR found no material discrepancies identified that would impact the validity of the Mineral Resource estimate. SLR's QP is of the opinion that the verification process confirms the reliability of the assay database, ensuring its suitability for use for Mineral Resource estimation. In accordance with NI 43-101, Pierre Landry, of SLR, conducted a site visit to the Project and related facilities on October 24 and 25, 2024. During this visit, he inspected the Keats and Iceberg trenches, the core shack, and reviewed the logging environment and procedures for data collection and sampling. He also examined core samples from the AFZ Core, AFZ Peripheral, and JBP deposits. In addition, he interviewed NFG's personnel and gathered information necessary for completing the Mineral Resource estimate and accompanying Technical Report. Mr. Landry also inspected drill collars and drill hole cores relevant to the Mineral Resource estimation, verifying collar locations using a handheld GPS and visually comparing mineralization with interpreted drilling sections. NFG provided full access to all facilities and personnel during the visit. Mr. Landry was accompanied by Melissa Render, President of NFG. Technical ReportA technical report will be prepared (the "Technical Report") by Qualified Persons in accordance with the requirements of NI 43-101 and will be filed on SEDAR+ within 45 days of this press release. Readers are cautioned that the conclusions, projections and estimates set out in this press release are subject to important qualifications, assumptions and exclusions, all of which will be detailed in the Technical Report. To fully understand the summary information set out in this press release, the Technical Report, which will be filed on SEDAR+ at should be read in its entirety. Qualified PersonThe initial MRE for Queensway was prepared by Pierre Landry, of SLR, an independent Qualified Person in accordance with the requirements of NI 43-101, who has reviewed and approved the contents of this news release. The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, President, and a Qualified Person as defined under NI 43-101. Ms. Render consents to the publication of this press release dated March 24, 2025, by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release. New Found Gold holds a 100% interest in Queensway in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce. With over 600,000 metres of drilling completed since 2020, the Company has outlined multiple near-surface, high-grade gold discoveries over a 22 km strike extent. Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,600 hectare Project that covers a 110 km strike extent along two prospective fault zones. The Company has completed an initial mineral resource estimate and commissioned a preliminary economic assessment, which is scheduled for completion in late Q2/25. New Found Gold has a new management team in place, a solid shareholder base, which includes an 19% holding by Eric Sprott, and is focused on growth and value creation at Queensway. Please see the Company's website at and the Company's SEDAR+ profile at Keith BoyleChief Executive OfficerNew Found Gold Corp. Follow us on social media athttps:// 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 Statement Cautions This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to the MRE; exploration, drilling and mineralization on the Queensway Project ; plans for future exploration and drilling including expansion beyond this MRE, additional metallurgical testwork, exploration of our prospective landholdings and exploration campaign; the preparation, completion and timing of a PEA; the potential preparation, completion and timing of a pre-feasibility study and feasibility study; growth of the Queensway Project and value creation for shareholders and the communities; expansion potential of the Queensway Project; the 2025 drill program; filing the Technical Report and timing thereof; the jurisdiction of the Queensway Project ; and the merits of the Queensway Project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "encouraging", "pending", "potential", "goal", "objective", "opportunity", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete the preliminary economic assessment, the results and timing of the preliminary economic assessment, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration, drilling and assay results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at for a more complete discussion of such risk factors and their potential effects. View original content to download multimedia: SOURCE New Found Gold Corp.
