Latest news with #VTEM
Associated Press
5 days ago
- Business
- Associated Press
Magna Terra Announces Inaugural Exploration Program And Initiates Airborne Geophysical Survey At The Humber Copper-Cobalt Project In Newfoundland
TORONTO, ON / ACCESS Newswire / June 3, 2025 / Magna Terra Minerals Inc. ('Magna Terra' or the 'Company') (TSXV:MTT) is pleased to announce that it has commenced its inaugural exploration program at its 40,675-hectare, 100% owned Humber Copper-Cobalt Project (the 'Humber Project' or the 'Project') located in western Newfoundland (Figure 1). The Company has initiated a 2,377 line-kilometre ('km') airborne geophysical survey. The helicopter-borne survey will comprise a systematic, property-wide, time-domain electromagnetic ('VTEM™ Plus') and horizontal magnetic gradiometer survey and will provide the baseline geophysical data to guide geological mapping and focus exploration efforts to discover Copper-Cobalt deposits. This is the first geophysical survey of this type in the area. The Company is interested in areas of geophysical anomalies coincident with anomalous copper ('Cu'), cobalt ('Co'), lead ('Pb'), silver ('Ag'), molybdenum ('Mo'), gold ('Au'), arsenic ('As'), and antimony ('Sb') lake sediment values (Figures 1 and 2) found throughout the Project area including the Hughes Lake Trend where an 8 km long anomalous zone of copper and cobalt in soil samples is coincident with mafic volcanic rocks of the Hughes Lake Complex and associated magnetic rocks (Figures 3 and 4). Humber Project Highlights 'Initiation of the airborne geophysical survey marks our inaugural exploration program at the Humber Project. This greenfields exploration project is host to numerous critical metal anomalies and has the geological environment consistent with the potential to host Sediment-hosted Stratiform Copper Deposits, which are globally significant producers of copper and cobalt with considerable by-products including rare and precious metals such as Mo, Ag, Au, U, REE, and PGEs. This geophysical survey is the first of its kind for this area and will provide the data to identify geophysical anomalies consistent with Stratiform Copper Deposits and will focus our field efforts on areas of coincident geophysical and geochemical anomalies. Building on the geophysical program, we anticipate commencing field work in the coming weeks as geophysical data begins to roll in with initial focus along the Hughes Lake Trend - an 8-km zone of copper-cobalt-in-soil anomalies adjacent to anomalous regional lake sediments. At the Humber Copper-Cobalt Project, we have assembled a rare, first-mover, district-scale project opportunity, that will continue to leverage our expertise. We are eager to demonstrate the Project's prospectivity focused on critical metal discovery and the value we believe this Project brings to our investors.' ~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc. About the Geophysical Survey The helicopter-borne survey is being completed by Geotech Ltd. and comprises a Versatile Time-Domain Electromagnetic (VTEM™ Plus) and horizontal magnetic gradiometer survey. The survey will be flown at 200 m spacing in a northwest trend across the strike of the underlying geology with perpendicular tie lines flown at 2 km spacing. Lake Sediment Geochemistry and Global Analogues The Project is underlain by rocks of the sedimentary Humber Arm Allochthon and adjacent plutonic and volcanic Hughes Lake Complex, which is centred on a series of anomalous lake sediment samples (Davenport et al., 1996) that show regionally elevated levels of Co (up to 160 ppm), Ag (up to 0.6 ppm), Pb (up to 84 ppm), Cu (up to 185 ppm), As (up to 142 ppm), Mo (up to 15 ppm), and Au (up to 10 ppb). An analysis of the lake sediment geochemical data via Principal Component Analysis has indicated that the metal suite present within the Project area is likely related to a black shale source, as many of the anomalous lake sediments have low-Ni values which precludes association with the nearby ophiolite complexes to the immediate west. This metal signature (Cu, Co, Ag, Pb +/- Au, Mo, As, Sb) and geological environment is supportive of the area being host to SSC Deposits. SSC Deposits host 60% of global Cobalt production^ and 20% of global Copper production* in deposits such as the Central African Copper Belt, which is thought to be analogous to the geological setting of the Humber Copper-Cobalt Project. SSC Deposits are often laterally continuous along bedding and contain consistent grades (1.2 to 5% Cu)* and large resources of by-product Au, U, platinum-group, and rare-earth elements. The exploration potential is also underscored by the presence of base metal deposits nearby including the York Harbour and Daniels Harbour Deposits located at lower stratigraphic levels of the region. Figure 1: A map showing the Humber Project with underlying geology of the Humber Arm Allochthon, coincident anomalous Cu (ppm) lake sediment samples and location of the recently staked Hughes Lake Block. Figure 2: A map showing the Humber Project with underlying geology of the Humber Arm Allochthon, coincident anomalous Co (ppm) lake sediment samples and location of the recently staked Hughes Lake Block. Figure 3: A map showing the geology, lake sediment samples (Cu-ppm) and reconnaissance soil samples (Cu-ppm) outlining an 8-kilometre long trend along the Hughes Lake mafic volcanics, Humber Project. Figure 4: A map showing the geology, lake sediment samples (Co-ppm) and reconnaissance soil samples (Co-ppm) outlining an 8-kilometre long trend along the Hughes Lake mafic volcanics, Humber Project. * ^Petavratzi, E, Gunn, G, Kresse, C. (2019). Commodity review: Cobalt. British Geological Survey. Qualified Person This news release has been reviewed and approved by David A. Copeland, a 'Qualified Person', under National Instrument 43-101 - Standard for Disclosure for Mineral Projects. All quoted soil and lake sediment samples results were compiled from historic assessment and government reports obtained from the government of Newfoundland and Labrador. The Qualified Person has not completed sufficient work to validate these historic results. About Magna Terra Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper-Cobalt Project in Newfoundland and Labrador; our 100% owned Rocky Brook Gold and Critical Metals Project in the historic Bathurst Mining Camp of New Brunswick; and our 100%-owned Cape Spencer Gold Project in New Brunswick. In addition, the Company has optioned the Great Northern Project in Newfoundland to Gold Hunter Resources Inc. for total cash and share consideration of $9.5 million over a 2-year period. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its 100% owned Boleadora Project recently retained from Newmont Corp.; and a precious metals discovery on its Luna Roja Project proximal to Cerrado Gold's operating Don Nicholas Project infrastructure, as well as several additional district scale drill ready projects available for purchase or option/joint venture. Forward Looking Statements 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. Cautionary Statements Regarding Forward Looking Information This news release contains forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the ability of the Company to file a report that complies with National Instrument 43-101. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: 'believes', 'expects', 'anticipates', 'intends', 'estimates', 'plans', 'may', 'should', 'would', 'will', 'potential', 'scheduled' or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, and the ability of the author of the Technical Reports to finalize same. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include the inability of the Company to execute its proposed business plans and carry out planned future activities. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, future prices of gold, changes in the financial markets and in the demand for precious metals, changes in laws, regulations and policies affecting the mineral exploration industry, and the Company's investment and operation in the mineral exploration sector, as well as the risks and uncertainties which are more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's SEDAR+ profile at Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. FOR FURTHER INFORMATION PLEASE CONTACT: Magna Terra Minerals Inc. Lewis Lawrick President and CEO, Director 647-478-5307 Email: [email protected] Website: SOURCE: Magna Terra Minerals Inc. press release
Cision Canada
15-05-2025
- Business
- Cision Canada
STARR PEAK EXPANDS LAND POSITION NEAR NEWMÉTAL PROJECT WITH ACQUISITION OF COPPER CLIVE PROPERTY
VANCOUVER, BC, May 15, 2025 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTCQX: STRPF) is pleased to announce that the company has acquired the Copper Clive Project (" Copper Clive" or "the Property"), a land package located in the Abitibi Greenstone Belt of Québec, around 10 kilometers north of the Company's 100% owned past-producing Normétal Mine (10.1Mt @ 2.15% Cu, 5.12% Zn, 0.55 g/t Au, 45.25 /t Ag) and Amex Exploration Inc.'s Perron gold mineralization (See figure 1). Newly Acquire Property Highlights: New 2023 ground geophysics anomaly (TDEM), never drilled Adjacent known Copper mineralization (Norcopper showing – 1.5% Cu over 1.5m) Adjacent to a felsic rock characterized by the same datation range (2725.4 +/- 0.9 Ma versus 2725.4 +/-2.3 Ma) than the Beaupré rhyolite, hosting Perron gold mineralization (MRD299) Johnathan More, Chairman and CEO of Starr Peak commented, "We are looking forward to an active 2025 exploration program and this new property gives us an opportunity to explore another under-estimated area for base metals and gold mineralization. With features that identify its great potential, the Copper Clive Property align with Starr Peak's vision to explore for critical minerals. This additional property gives us a stronger footprint in this emerging district." The Copper Clive property consist of 29 mining claims, totaling 3,643.23 hectares, 100% owned by Starr Peak Mining LTD. Next exploration phases will include Geophysics airborne Electromagnetic Survey (VTEM), prospecting and drilling defined anomaly. Terms of the Agreement The company will acquire 100% interest in 29 mineral claims covering a total of 3,643.23 hectares, located in the Abitibi Greenstone Belt of Québec. To acquire 100% interest in the claims the Company paid a purchase price of $40,000.00 to the vendor. Qualified Person Alexis Paulin Bissonnette, Ing. (OIQ 5037621), an independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results. References and disclosures MRD299, Geological Mapping and Compilation of the Burntbush–Normétal Volcanic Belt, Abitibi Greenstone Belt, Ontario–Quebec, Ontario Geological Survey, Barrett, T.J., Ayer, J.A., Ordóñez-Calderón, J.C., Hamilton, M.A., 2013 Normétal historical Mine and Normetmar: Summary Report, Normetmar Project, January 1988 by L. Boivin The Company wishes to caution that historical resources described above are historical. The historic resources are relevant to give a ballpark estimate of the potential on the property. Historical resources should not be relied upon. The key assumptions, parameters and methods used to prepare the historical estimate is not known and thus the difference between the historic estimates and NI 43-101 compliant estimates is also not known. The historical estimates used categories other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not reviewed the historical estimates and has not done sufficient work to classify the historical estimates as current mineral resources and Starr Peak is not treating the historical estimates as current mineral resources under National Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration work needs to be done to correctly evaluate these historical resources. Additionally, the methodology of calculation is unknown by the qualified person. Grab samples are selective by nature and the values reported may not be representative of the mineralized zone. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property. On Behalf of the Board of Directors of Starr Peak Mining Ltd., "Johnathan More" Johnathan More Chairman and Chief Executive Officer About Starr Peak Mining Ltd. Starr Peak Mining Ltd. is a Canadian based mineral exploration company focused on the acquisition and exploration of precious and base metal mineral deposits. The primary objective of the Company is to acquire, explore and develop high potential and quality gold and base metal deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries. 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 the content of this news release. No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction. Cautionary Note Regarding Forward-Looking Information: This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Starr Peak assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on
Yahoo
03-05-2025
- Business
- Yahoo
Mustang Energy Corp. Provides Update on Geophysical Reinterpretation and Targeting
VANCOUVER, British Columbia, May 02, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the 'Company' or 'Mustang') is pleased to provide an update on its ongoing geophysical reprocessing, reinterpretation and targeting work in collaboration with leading geophysical consultants Resource Potentials Ltd. ('ResPot') of Perth, Australia. This initiative reflects Mustang's commitment to advancing exploration across its Athabasca Basin uranium projects through cost-effective, technically sound data integration. Geophysical Reinterpretation Methodology Following a detailed historical data compilation, ResPot has reprocessed and interpreted a suite of high-resolution airborne magnetic, radiometric, gravity, and electromagnetic ('EM') datasets over Mustang's properties. These datasets were sourced from open-file surveys by provincial and federal agencies and integrated with digital elevation models, geological maps, mineral occurrence records, drilling and geochemical data, and satellite imagery in GIS software. Magnetic datasets were utilized to infer the depth and architecture of the Athabasca Basin unconformity—a critical control for high-grade uranium mineralization. EM datasets, including VTEM, MegaTEM, GeoTEM, ZTEM, and VLF surveys, were processed to identify conductive anomalies potentially related to graphitic pelite units and clay alteration zones. Ratios and products of radioelement concentrations (K, Th, U) were computed to enhance subtle radiometric anomalies, despite their susceptibility to attenuation by surface cover. The integrated interpretation has revealed multiple areas of interest coincident EM-magnetic-low anomalies characteristic of basement-hosted unconformity-related uranium deposits. A key component of this work has involved the continuous interpretation of geophysical data to guide targeted mineral claim staking, alongside the review of internal and public datasets, as Mustang evaluates potential project acquisitions and joint venture opportunities. In addition to the reprocessing, reinterpretation, and targeting of historical datasets, ongoing interpretation is also underway on newly acquired airborne geophysical surveys. These include a MobileMT survey recently completed over the Yellowstone Project and an Xcite™ TDEM survey over the Dutton Project. Further analysis will also be conducted on the upcoming Xcite™ TDEM survey with radiometric data acquisition planned for the Spur Project in May. These contemporary datasets are expected to complement the historical compilation work and enhance Mustang's ability to prioritize drill-ready targets across its portfolio. Targeting: The work conducted thus far, has resulted in targeting based off of the open source geophysical datasets over Mustang's Athabasca Basin Uranium portfolio. Areas of interest have been identified based on this reinterpretation: 914W Project: Positioned approximately 45 km south of the Athabasca Basin edge, this project hosts an EM conductor anomaly coinciding with a magnetic low and subtle radiometric uranium signature (Figure 1). Furthermore, the project lies along trend with known uranium and REE occurrences. The company plans to initiate a field-based prospecting program this spring to further assess these priority targets. Figure 1: 914W Project claim and mineral occurrences over a mosaic EM decay colour image from 3 adjacent airborne EM surveys where hot colours indicate electrical conductors, all overlying greyscale magnetic derivative background image. An EM conductor of interest is coincident with a magnetic-low anomaly and is considered to be a priority target area. (map layers retrieved from: Government of Saskatchewan Mining and Petroleum GeoAtlas and Natural Resources Canada) Spur Project: Located about 30 km south of the Basin, Spur is intersected by regional magnetic-low and EM conductor trends (Figure 2). Radiometric anomalies are evident, though muted by surface cover. Mustang has engaged Axiom Exploration to deploy the Xcite™ TDEM system with co-collection of radiometrics to in-fill areas not covered by modern day EM survey techniques. This project, like 914W, is also considered prospective for REE mineralization based on regional occurrence trends. Figure 2: Spur project claims, mineral occurrences and select interpretation lines over a ternary radiometric image (left) where K is red, Th is green and U is blue, and late EM decay time images from 3 adjacent airborne EM surveys (right) where hot colours indicate electrical conductors, all overlying greyscale magnetic derivative background images. Note that this are no available EM datasets over the main part of the Spur claim. (map layers retrieved from: Government of Saskatchewan Mining and Petroleum GeoAtlas and Natural Resources Canada) Ford Lake: Comprised of 3 non-contiguous claim blocks and located within the Basin near the southern edge, with interpreted depths to the unconformity at ~400 meters or less. Ford Lake features a strong, untested EM conductor anomaly coincident with a magnetic-low trend. This anomaly is spatially associated with a known uranium occurrence to the northeast2 and a subtle U-Th radiometric trend. Follow-up mapping and sampling are recommended (Figure 3). Figure 3 : Ford Lake project claims and mineral occurrences over a mosaic VTEM EM decay colour image from 3 separate airborne EM surveys where hot colours indicate electrical conductors, all overlying greyscale magnetic derivative background image. An EM conductor of interest is coincident with a magnetic-low anomaly and located along an interpreted fold axis from a known U occurrence. (map layers retrieved from: Government of Saskatchewan Mining and Petroleum GeoAtlas and Natural Resources Canada) Cigar Lake East: Comprised of 2 non-contiguous claim blocks and located within the Basin near the eastern edge, with interpreted depths to the unconformity at ~200 meters or less. Cigar Lake East features multiple parallel NE-SW trending magnetic-low trends, some of which have been historically drill tested and host U mineralisation, including the Rabbit Lake Uranium Mine located approximately 40km to the NE. A magnetic-low anomaly trend within Mustang claims is coincident with EM conductor anomalies and remains untested by drilling. Figure 4: Cigar Lake East project claims, historic drillhole collars and mineral occurrences over a mosaic VTEM EM decay colour image from 2 separate airborne EM surveys where hot colours indicate electrical conductors, all overlying a greyscale magnetic derivative background image. An EM conductor of interest is coincident with a magnetic-low anomaly trend that has not been historically drill tested, along trend from the Rabbit Lake U Mine and adjacent to known mineralised trends. (map layers retrieved from: Government of Saskatchewan Mining and Petroleum GeoAtlas and Natural Resources Canada) 'Our partnership with ResPot has yielded valuable insights that advance Mustang's uranium exploration strategy,' said Nicholas Luksha, CEO and Director of Mustang Energy. 'By leveraging existing datasets and high-end geophysical modelling, we are refining drill targets while optimizing exploration spend. These interpretations form the basis of our 2025 field program and inform our ongoing project evaluation efforts.'About Resource Potentials: Resource Potentials Ltd. is a consulting and contracting business specialising in geophysical survey design, acquisition, processing, modelling, inversion, data integration, interpretation and drill hole targeting. Based in Perth, Western Australia and established in 2001, ResPot provide their clients with expertise and products that fit their requirements and budgets for exploration, drilling and mining operations. ResPot is highly experienced in processing, interpreting and modelling potential field (magnetic and gravity) and other geophysical surveys such as radiometrics, EM, IP, GPR and seismic data in a variety of geological settings for commodities including; gold, iron, base metals, uranium, REE, manganese, coal, diamonds, oil and gas, groundwater, etc. Qualifying Statement: The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang Energy, and a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About Mustang Energy Corp.: Mustang Energy is a resource exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company is actively exploring its properties in Northern Saskatchewan, Canada and holds 92,211 hectares in around the Athabasca Basin. Mustang's Ford Lake project covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and Roughrider South projects span 3,442 hectares, and the south-east region with the Spur Project (17,929 hectares). Mustang has also established a footprint in the Cluff Lake region of the Athabasca Basin with the Yellowstone Project (21,820 hectares) and further expanded its presence in the south-central region of the Athabasca Basin with the Dutton Project (7,633 hectares). For further information, please contact: Mustang Energy Corp. Attention: Nicholas Luksha, CEO and Director Phone: (604) 838-0184This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as 'intends', 'believes' or 'anticipates', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'occur'. This information and these statements, referred to herein as 'forward‐looking statements', are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the future potential of the minerals claims held by the Company, the successful commencement and completion of the MobileMT survey, and the timely delivery of the results from the MobileMT survey. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation the assumption that the Company will be able to: continue exploring its properties given various environmental and economic factors outside of its control and complete the MobileMT survey as planned. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities in to access your portfolio
Cision Canada
29-04-2025
- Business
- Cision Canada
Abitibi Metals Advances Exploration with New Geophysical Initiatives at B26 Deposit
Highlights: Two geophysical surveys completed at the B26 Deposit: 1,028 line-km heliborne VTEM™ Plus and magnetic gradiometer survey covering the entire property Downhole Pulse EM survey in three selected drill holes on the boundaries of the B26 Deposit Follow-up on the high-priority gravity anomaly identified on the east side of the B26 Deposit: 400–500m in diameter at 800m depth Lies outside current mineralized footprint Historical drill highlights on anomaly boundary include: 1.2% CuEQ over 10.5m (Hole 1274-16-231) 2.4% CuEQ over 11.8m incl. 36.5% CuEQ over 0.7m (Hole 1274-16-239) 2.7% CuEQ over 10.5m incl. 15.1% CuEQ over 1.1m (Hole 1274-17-248) Phase III drilling program underway as part of Abitibi's 2025 exploration strategy LONDON, ON, April 29, 2025 /CNW/ - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to announce the completion of fieldwork at two geophysical initiatives at the B26 Deposit, further strengthening its exploration efforts at both the regional and deposit scale. These initiatives build on previously announced gravity survey results and mark a significant step forward in the Company's 2025 exploration program. On November 16, 2023, the Company entered into an option agreement on the B26 Deposit to earn up to 80% ownership over seven years from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023). For the two surveys—one airborne and one downhole—the fieldwork has been completed, and final processing and interpretation are currently underway. The two surveys are: A high-resolution heliborne VTEM™ Plus and magnetic gradiometer survey covering the entire B26 Property. A Downhole Pulse Electromagnetic (EM) survey within three strategically selected drill holes at the B26 deposit (see figure 1). CEO Jonathon Deluce stated: "We are excited about the ongoing exploration program at B26, with Phase III drilling now underway. Additionally, the completion of fieldwork for these two geophysical surveys represents an important milestone. As our technical team continues to grow, so does our capacity to execute with precision. The integration of VTEM and downhole EM data will enhance our ability to refine and prioritize high-quality drill targets, both at the deposit scale and across the broader B26 Property." Strengthening Target Selection for Phase III Drilling Abitibi Metals has recently commenced its Phase III drill program at the B26 Deposit. To further refine and prioritize 2025 drill targets, fieldwork on complementary geophysical surveys has been completed. These surveys, which combine multiple geophysical methods, will provide critical insights at both the deposit and property scale, helping to guide and enhance exploration efforts. With Phase III drilling underway and valuable data from the geophysical surveys, Abitibi Metals is well-positioned to advance its exploration strategy. The Company remains committed to leveraging advanced geophysical and drilling techniques to unlock the full potential of this high-grade deposit. Final data interpretation from both geophysical surveys is expected in the coming weeks and will directly inform upcoming drill hole targeting. The Company anticipates providing further updates as new drill targets are confirmed and Phase III drilling progresses. Deposit-Scale Exploration Downhole surveys (see figure 1), integrated with geological interpretations and gravity anomalies, will help validate and refine the mineralization continuity beyond the currently defined footprint. For reference, one key target has already emerged with the gravity survey—an excess mass anomaly identified at a depth of 800 meters on the eastern side of the B26 deposit. With a diameter of 400–500 meters, this target presents significant blue-sky potential for expanding the overall tonnage at B26. Most of the target is located outside of the interpreted outline of the mineralized system and elevated copper equivalent grades have been observed in historical drill assays on the target's boundary. Highlights include: 1) 1.2% CuEQ over 10.5m starting from 767.1m (1274-16-231), 2) 2.4% CuEQ over 11.8m starting from 1,111m including 36.5% CuEQ over 0.7m (1274-16-239), and 3) 2.7% CuEQ over 10.5m starting from 990m including 15.1% CuEQ over 1.1m (1274-17-248) (see figures 2 and 3). Property-Scale Exploration At the regional scale, the integration of the geological litho-structural model, gravity anomalies previously released, and VTEM survey data will enable a more informed prioritization of regional drilling targets, optimizing exploration efficiency across the B26 Property as a whole. About the VTEM Survey This helicopter-borne survey, conducted by Geotech, includes a total of 1,028 line kilometers of VTEM™ Plus and magnetic gradiometer surveying, with lines spaced every 75 meters. VTEM is a powerful exploration tool that enhances the ability to identify and delineate conductive zones associated with disseminated and massive sulfide mineralization. The survey offers excellent depth penetration and high-resolution data, making it an essential component of the Company's targeting strategy. About the Downhole Pulse EM Survey Carried out by Geophysics TMC, this survey will focus on three drill holes on the boundaries of the defined resource footprint. By providing valuable conductivity data, the survey will help vector drilling toward high-potential mineralized zones. About the Gravity Survey A surface gravity survey was completed in 2024, covering 1,466 stations distributed over 26 lines spaced between 250 and 500 meters apart. Conducted by Geophysics TMC, the survey data was analyzed by Abitibi Geophysics, which also completed inversion models. A strong gravity contrast was modeled along the down-dip extension of the B26 deposit, by incorporating Soquem's 2017 Gravilog survey results, density measurements from drill holes, and the 2024 surface gravity survey. Through advanced inversion software, Abitibi Geophysics reinterpreted the Gravilog data. This interpretation, developed collaboratively with Abitibi Metals geologists, ensures that each identified anomaly corresponds to a geologically prospective area. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, (OIQ #107538), VP Exploration of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. About Abitibi Metals Corp: Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate of 11.3MT @ 2.13% Cu Eq (Ind) & 7.2MT @ 2.21% Cu Eq (Inf), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres and 13.07 g/t gold over 8.75 metres amongst four modeled zones. SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. ON BEHALF OF THE BOARD Jonathon Deluce, Chief Executive Officer The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements: Twitter: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-looking statement: This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi 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 to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
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10-02-2025
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Churchill Resources Confirms Ni-Co Potential of Large Tonnage Seahorse Lake Intrusive at Florence Lake
TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Churchill Resources Inc. ('Churchill' or the 'Company') (TSXV: CRI) is pleased to provide an update on its 2024 fieldwork results at the Florence Lake nickel project located in Labrador. Highlights include: Seahorse Lake Intrusive CRI 2024 sampling confirms Ni-Co potential and ~7.5km strike length to the variably exposed Seahorse Intrusion with consistent historical surface grab samples grading 0.2-0.4% nickel and Company 2024 results confirm historical and new exposures with grades or 0.2-0.32% Ni and 100-756ppm Cobalt. The high cobalt value is much improved over the best historical result of 361ppm Co. 13 of 27 CRI samples at Seahorse returned high-interest aluminum undepleted komatiite geochemical signatures, suggesting more primitive, potentially Ni-enriched units may also be present in the volcanic assemblage. This is a very encouraging early sign for Seahorse. The lone short historical drillhole, TSH96-04, into the eastern margin of the intrusive, also returned nickel values in the 0.2-0.3% range with 0.01%Co from selected short samples between 30-100m downhole. The entire core is available for sampling to the end of hole at 102m. Baikie Belt The northern licenses' Baikie Sub-belt high-grade targets have been sampled with prioritization based on prospective komatiite geochemistry/VTEM conductors/high nickel-in-soil sampling highlighting numerous areas for detailed follow-up. Paul Sobie, CEO, commented: 'Our 2024 fieldwork has confirmed that the Seahorse Lake Ultramafic Intrusive spans some 7.5km x 1km as suggested by its magnetic signature, and found it to outcrop over several impressively large areas. Historical grab sampling by Falconbridge returned pervasive surface nickel assays in the 0.2 to 0.4%Ni range, consistent with similar ultramafic intrusions being evaluated in Ontario, Quebec, BC, and Alaska. Our 2024 sampling confirmed Seahorse's Ni-Co potential per Table 1 and Figure 1, including a grab sample grading 756ppm Co (0.076%). We plan to cut long channel samples through these large outcrop exposures during fieldwork in 2025 to define nickel content over significant strike lengths and widths, as an important part of our first full 'boots on the ground' season based out of the Florence Lake camp. On our northern licenses covering the high-grade target Baikie Sub-belt ~5km northwest of Seahorse, we've now sampled most of the 43 priority targets identified from VTEM survey and follow-up soil sampling, allowing for prioritization for detailed prospecting, geology and geophysical surveys this summer. Florence Lake lies ~70km west of the deep-water port of Postville, an all-weather road proposed along the Labrador coast would pass within 15km, and nearby waterfalls offer hydro-electric power potential, all greatly enhancing project economics.'Figure 1 – Seahorse Lake Total Magnetic Intensity with 2024 and Falconbridge Surface SamplingFigure 2 – Outcropping serpentinized peridotite southern Seahorse Lake Intrusion (note helicopter in distance for scale)Figure 3 – Outcropping serpentinized peridotite central Seahorse Lake IntrusionTable 1 – 2024 Lithogeochemical Sample Selected Analytical ResultsBaikie Belt High-Grade Targets The Baikie-Sub-belt volcanic package is highly encouraging for nickel discoveries throughout the volcanic stratigraphy, rather than just the Baikie Showing horizon, the primary target of Falconbridge, where a small deposit was delineated. CRI is continuing to sample the ultramafic lavas in the area of priority targets, following the recognition of numerous Al2O3-undepleted ultramafic volcanic areas (i.e., more primitive lavas, associated with nickel mineralization), as stacked targets located throughout the upper Eastern Volcanic areas of the greenstone belt, and importantly also within the more basal Western Volcanics. Kambalda-style nickel sulphide deposits occur primarily in the basal portions of ultramafic volcanic sequences. Figure 4 following shows the location of 2024 lithogeochemical samples detailed in Table 1, as well as the location of all other CRI surface samples collected since 2021. As well Dr. Derek Wilton has sampled numerous historical drill holes, and NL Government Geological Survey geologists have sampled the rest of the historical drillholes, which data will be available in the near-term to further our compilations of geochemical data and follow-up plans. CRI is in close contact with the Geological Survey team, who are actively assessing the Baikie and Seahorse Lake areas through mapping, lithogeochemistry and age-dating of surface and core samples and who completed their first field season in the Florence Lake area in 2024. The Geological Survey is planning to be active again this summer on our property and the collaboration will be extremely helpful to Churchill. 2024 soil sampling was modest in sample numbers and targeted to assess VTEM conductors lower in the stratigraphy in the Western Volcanics per Figure 5. Moderate nickel anomalies were generated in several areas for follow-up this summer. The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C Wilton, FGC, who is a 'qualified person' as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ('NI 43-101'). Mr. Wilton is an honourary research professor of Economic Geology at Memorial University and is independent of the Company for the purposes of NI 43-101. The lithogeochemical samples reported here were whole rock pieces, collected from outcrop and historical drill core by Dr. Wilton during fieldwork in September/October 2024. These samples were sealed in labelled plastic bags in the field. All sample bags were photographed and transported to Thunder Bay, ON, by secure courier. The samples were analysed by ALS Geochemistry Ltd. in Thunder Bay using ME-ICP06 whole rock and ME-MS61L analytical protocols. Samples with over limit Ni contents were re-assayed using OG-46 Aqua-Regia overlimit method. Quality control results, including the laboratory's own control samples, were evaluated immediately.1 The soil samples were placed in labelled, sealed kraft paper bags and delivered to Eastern Analytical of Springdale, NL, an ISO/IEC 17025 certified facility. The samples were analysed using ICP 34 (inductively coupled plasma) analytical protocols. Samples with over limit Ni contents were re-assayed using Eastern's Ore Grade Assay (multi acid digestion) overlimit method. Quality control results, including the laboratory's control samples, were evaluated 4 – CRI Lithogeochemical Samples 2021-2024 in Baikie Sub-beltFigure 5 – CRI Soil Samples 2022-2024 in Baikie Sub-belt on detailed CRI magnetics About Churchill Resources Inc. Churchill Resources Inc. is a Canadian exploration company focused on high grade, magmatic nickel sulphides in Canada, principally at its prospective Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board and its advisors have decades of combined management experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill's Taylor Brook and Florence Lake projects have the potential to benefit from the province's large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise. Further Information For further information regarding Churchill, please contact: Churchill Resources Inc. Paul Sobie, Chief Executive Officer Tel. +1 416.365.0930 (o) +1 647.988.0930 (m) Email psobie@ Alec Rowlands, Corporate Consultant Tel. +1 416.721.4732 (m) Email arowlands@ Cautionary Note Regarding Forward Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", 'proposed', "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the Company's objectives, goals and exploration activities conducted and proposed to be conducted at the Company's properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company's properties will be successful; exploration results; and future exploration plans and costs and financing availability. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Company's properties; failure to identify any mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company's properties; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management's discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. 1 The Company reminds investors that surface rock samples are select samples and may not be representative of all mineralization on the Florence Lake property. Photos accompanying this announcement are available at: in to access your portfolio
