Latest news with #VTEM
West Australian
31-07-2025
- Business
- West Australian
Taruga hot on the trail of buried WA multi-metal prize
Taruga Minerals has lit up the geophysical radar with a red-hot electromagnetic anomaly at its Thowagee project in Western Australia's underexplored Gascoyne region. The company is now treating the conductor as a top-priority drill target. The versatile time-domain electromagnetic (VTEM) anomaly sits just one kilometre south of the main Thowagee polymetallic prospect and has made a compelling case for closer inspection. Tantalising evidence of visual base metal sulphides, including galena and sphalerite, has shown up in the core of a recently completed four-hole slimline diamond drilling program to test the walls and floor of nearby historic workings. These markers are classic hallmarks of lead-zinc mineralisation. Assays are now in the lab and results - expected within weeks - will be eagerly awaited. Adding to the target's credentials, an earlier magnetic survey shone a light on a comparable anomaly with sniffs of galena grading as high as one per cent and malachite poking through in rock chips at surface. The same survey also picked up an adjacent shear zone, which lit up with elevated gold and arsenic numbers, including a standout hit of 92 parts per billion gold, when geochemically tested. Adding to the intrigue, a freshly completed soil and rock chip blitz has zeroed in on a gold-arsenic trend, stretching nearly a kilometre from northeast to southwest and slicing through the project's southeast corner, where known sulphides are already showing up in shallow core. As well as tracking with the regional structure, the trend appears to run in lockstep with the VTEM and magnetic anomalies. Taruga has now moved quickly to roll out further testing. A fixed-loop electromagnetic survey is being run directly over the VTEM target, with ground gravity and magnetic surveys also underway over a 5.5-square-kilometre zone to improve image resolution. By employing a multi-method approach, the company expects to refine the anomaly's depth, geometry and continuity ahead of potential drilling. The initial spark for the new investigation came from a 2017 VTEM survey commissioned by Squadron Resources and later made public through the WA Government's WAMEX archive. Taruga's recent independent reinterpretation of the data has now breathed new life into the anomaly, which couldn't come at a better time for a company eager to unearth its next big prize. The Thowagee prospect is part of a broader landholding covering more than 400 square kilometres controlled by Taruga. It's always a bullish sign when an area is peppered with historic workings, especially when modern exploration tools start lighting up ground that's barely been scratched. Not surprisingly, the company's ground appears to fit that description well. Back in the 1950s, old timers at Taruga's Uaroo-Hill prospect ripped out nearly 20 tonnes of ore packing a jaw-dropping 77.7 per cent lead and 301 grams per tonne (g/t) silver. Not far away at Donelly-Kooline, it was much the same story, where shallow digs in 1952 delivered lead at 55.8 per cent and silver grades of 129g/t. Meanwhile, over at Uaroo West, a small 1960s copper operation reportedly delivered 2.95t at 26 per cent copper. Of late, the Gascoyne region has become a hotspot for high-grade base and precious metals, fuelled by a string of wins such as Black Cat Syndicate's reopening of the Paulsens gold mine. Other projects include Dreadnought Resources' headline-grabbing Gifford Creek critical metals play and its Star of Mangaroon gold find. With assays due soon, multiple geophysical datasets in hand and field crews on the ground, Taruga looks poised to pull the trigger on a maiden drill campaign to test its high-priority VTEM target. If the geology beneath matches the story above, Thowagee could be ready to deliver something special. Is your ASX-listed company doing something interesting? Contact:
Yahoo
16-07-2025
- Business
- Yahoo
Gold Hunter Closes First Tranche of Financing to Fund District-Scale Exploration Program
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2025) - Gold Hunter Resources Inc. (CSE: HUNT) (OTCQB: HNTRF) (FSE: 6RH) ("Gold Hunter" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement financing (the "Offering") for total gross proceeds of $652,774. The first tranche consisted of: $436,005 raised through the issuance of flow-through units at a price of $0.09 per unit, and $216,769 raised through the issuance of non-flow-through (hard dollar) units at a price of $0.07 per unit. Each flow-through unit is comprised of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.12 for a period of 12 months from the date of issuance. Each hard dollar unit is comprised of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at a price of $0.12 for a period of 24 months from the date of issuance. In connection with the closing of the first tranche, finder's fees totaling $35,041.15 were paid and 402,555 broker warrants were issued. Each broker warrant entitles the holder to acquire one common share of the Company at a price of $0.12 for a period of 24 months from the date of issuance. The Company does not foresee utilizing the previously announced charity flow-through mechanism. Use of Proceeds and Operational Update Proceeds from this tranche, including flow-through funds, will be deployed immediately to: Complete the VTEM airborne geophysical survey and expanded to include the newly expanded claim areas. This modern geophysical program will provide high-resolution electromagnetic and magnetic data to delineate structures, alteration zones, and potentially sulphide associated with some mineralization styles over the property with precision over areas that have historically seen limited systematic exploration despite hosting past production and mineral resources. Plan for boots-on-the-ground follow-up work, including geological mapping, prospecting, and sampling to validate and prioritize targets generated from the VTEM data. The Company is pleased to report that Geotech Ltd.'s VTEM airborne survey system has mobilized to site, with survey operations scheduled to commence imminently. Advantageous Timing Completion of the VTEM program at this stage, rather than the original intent to complete last fall, has provided Gold Hunter with an advantage. Since late 2024, the Company has successfully consolidated additional mineral tenure, enabling the survey to be expanded to cover the remaining and new project areas and integrate seamlessly with data already collected. This has afforded Gold Hunter a single, consistent dataset across the entire 26,237-hectare district-scale land package, encompassing both known mineralized trends and newly acquired ground. By capturing this information in one cohesive framework, the Company will be positioned to evaluate the Project's full exploration potential with greater confidence and precision. In the current market environment, where investors increasingly value scale, systematic targeting, and modern data integration, this high resolution survey positions the Company to deliver a strong pipeline of high-priority drill targets supported by full integration of our multi-disciplinary data collected and historical datasets. Next Steps and Financing Strategy The Company does not expect to close the full originally announced amount in the near term. Instead, Gold Hunter intends to complete one additional tranche, anticipated by the end of July, which will fund the commencement of an initial drilling campaign targeting the highest-priority anomalies defined by the VTEM survey and fieldwork. The Company is fully permitted to complete the planned geophysical and drilling activities. Management Commentary "The arrival of the VTEM system onsite and the closing of this first tranche marks the start of 2025 exploration for Gold Hunter," commented Sean A. Kingsley, President & CEO. "By advancing the survey now, we are completing coverage of our entire consolidated land package, including newly acquired claims. This funding allows us to execute a disciplined exploration strategy, generating meaningful technical catalysts while preserving flexibility and limiting dilution. Once the survey is complete and data interpretation is underway, we plan to mobilize field crews to ground-truth priority anomalies in preparation for drilling. This comprehensive dataset will be an invaluable foundation as we prioritize high-potential targets across a property that already hosts multiple historic resources, a current resource estimate, and a past-producing gold mine, capturing the scale and continuity investors expect in modern exploration." Qualified Persons and Technical DisclosureThis news release, along with all scientific and technical information, has been reviewed and approved by Rory Kutluoglu, a "Qualified Person" as defined under NI 43-101 - Standards of Disclosure for Mineral Projects and is the consulting technical lead for Gold Hunter. About Gold Hunter Resources Hunter Resources Inc. is a Canadian mineral exploration company focused on acquiring and advancing high-potential precious and base metal projects. The Company leverages a data-driven approach to exploration, combining modern techniques with historical datasets to identify and develop district-scale opportunities. Following the successful divestiture of its first consolidated district to FireFly Metals Ltd., Gold Hunter has assembled the Great Northern Project, covering 40 kilometres of strike length across 26,237 hectares. Positioned along the Doucers Valley Fault Structure in one of Newfoundland's most prospective gold belts, the Company is advancing toward a maiden drill program targeting high-priority anomalies. Gold Hunter is committed to responsible exploration, meaningful stakeholder engagement, and delivering long-term value to shareholders. On Behalf of the Board of Directors,GOLD HUNTER RESOURCES INC. Sean A. KingsleyPresident, CEO, and Director For more information, please contact: Email: info@ +1 604-440-8474 Investor Relations, Corporate Communications & Media, please contact:Colton Welgan at +1 250-816-5523 or colton@ Website: Neither the CSE nor its Regulation Services Provider (as defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements: This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. These statements relate to future events or the Company's future performance and reflect current expectations or beliefs regarding future events, including but not limited to statements regarding the timing for receiving all required consents and approvals for the Closing, the ability of the Company, the GNS Vendors, and the NC Vendors to close the Transaction, the potential of the Great Northern Project, exploration plans, geophysical survey integration, and future drilling targets. Forward-looking statements are inherently subject to known and unknown risks, uncertainties, and assumptions that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to: the ability of the Company to receive all required consents and approvals for the Closing, market conditions, volatility in commodity prices, exploration and development risks, availability of financing, regulatory or political developments, and changes in project parameters as plans continue to be refined. Ongoing labour shortages, inflationary pressures, high interest rates, the global financial climate and ongoing international conflicts are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position, and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Although Gold Hunter 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. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking statements. To view the source version of this press release, please visit
Cision Canada
07-07-2025
- Business
- Cision Canada
Abitibi Metals Outlines 8.7 Kilometres of High-Priority Drill Targets from VTEM™ Survey at B26 Project
The survey successfully delineated 8.7 km of high-priority conductive horizon targets, several of which are located along strike and at depth from the known B26 Deposit, which hosts a current resource of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf – 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag). "The VTEM™ results confirm what we were hoping for, showing several areas with strong potential for new discoveries," said Jonathon Deluce, CEO of Abitibi Metals. "These results build a solid pipeline of new drill targets to support our ongoing infill and step-out drilling at B26. They also strengthen our ability to define and prioritize regional targets, which make up one of the key pillars of our Phase 3 drill program." The VTEM™ survey has been successfully completed over the B26 Project, with all data processed and validated by Geotech Ltd. The copper stringer zone at B26 displays a well-defined conductive response, while the main zinc-rich ore body remains non-conductive. Despite this, a potential 1.3 km western extension of the main deposit has been identified. This zone is characterized by a low magnetic signature and is supported by early-stage indications of zinc and silver mineralization. Two new high-priority targets have been delineated along the Enjalran–Brouillan contact, exhibiting geophysical and geological characteristics similar to the B26 deposit. These targets represent an additional 3.4 km of prospective strike length for follow-up exploration. These include: Comparable VTEM™ conductive and magnetic responses; A favourable geological context marked by the presence of felsic volcanic (rhyolite) units; Historical drill intercepts containing chalcopyrite (the primary copper-bearing mineral at B26), as well as sphalerite and silver. Two discrete conductive anomalies have been identified along the corridor between the B26 deposit and the past-producing Selbaie Mine. Based on Geotech's interpretation, these anomalies are consistent with a favourable VMS (Volcanogenic Massive Sulphide) environment. To refine these targets, advanced geophysical inversion and Maxwell modeling are recommended to better constrain geometry, depth, and drill targeting. These anomalies collectively outline an additional 4 km of mineralized trend for systematic exploration. Next Steps: The Company is planning property wide program of 2,000 to 4,000 metre follow-up drill program, expected to commence where accessible during the Phase 3 Program with the remaining in winter 2026, focusing on high-priority targets defined by the VTEM data and compilation of historical results from geophysical surveys and drilling. Integration of VTEM results with existing geophysical and geological data sets will further refine exploration models across the property. Please see Figure 1 below for the locations of VTEM anomalies and their relationship to the known B26 Deposit. 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 estimate1 of 11.3MT @ 2.13% Cu Eq (Ind- 1.23% Cu, 1.27% Zn, 0.46 g/t Au and 31.9 g/t Ag) & 7.2MT @ 2.21% Cu Eq (Inf - 1.56% Cu, 0.17% Zn, 0.87 g/t Au and 7.4 g/t Ag), 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 (BE13-038) and 13.07 g/t gold over 8.75 metres (BE12-014) 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 For more information, please call 226-271-5170, email [email protected], or visit 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. Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., Olivier Vadnais-Leblanc, géo., SGS Canada – Geostat., Effective Date: November 1, 2024, Date of Report : February 26, 2025 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.
Cision Canada
09-06-2025
- Business
- Cision Canada
METALEX COMMENCES DRILLING OF COPPER-NICKEL-COBALT TARGETS AT B3 CLAIM BLOCK IN QUEBEC
KELOWNA, BC, June 9, 2025 /CNW/ - Metalex Ventures Ltd. (TSXV: MTX) (the "Company") announces the start of drilling at its 100% owned B3 claim block in Quebec testing promising geophysical anomalies for copper-nickel-cobalt mineralization. Claim Block B3 (Copper-Nickel-Cobalt) The 24,322 hectare B3 claim block was staked due to the Company's heavy mineral and soil-till sampling indicating it contains copper-nickel-cobalt sulphides. Metalex has undertaken a VTEM airborne geophysical survey over its B3 claim block by Geotech Ltd. The VTEM survey, which included both electromagnetic and magnetic data, was reviewed by SHA Geophysics Inc. Their work indicates that eight of the conductors detected by the electromagnetic survey are thought to likely represent sulphide mineralization. These are shown on Map 1. Drilling has now commenced on the first of these conductors. Claim Blocks A1 and A2 (Gold) When drilling at the B3 copper-nickel-cobalt project is complete Metalex hopes to move the drill to its A1 and A2 claim blocks staked for gold. These claim blocks were staked due to the promising gold and pathfinder element results from detailed heavy mineral sampling of the areas. A VTEM survey over the claim blocks identified several conductive and magnetic anomalies that could be the bedrock source of the gold. Regional Exploration The Company also intends to complete follow up heavy mineral sampling on gold anomalies identified by its +/- 10,000 sample regional database in Quebec. 185 gold anomalies thought to reflect bedrock rather than placer sources have been discovered in the survey. The technical information and results reported here have been reviewed by Mr. Chad Ulansky a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release. Signed, Charles Fipke Charles Fipke Chairman FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information", including statements regarding the expected use of proceeds of the private placement. Further, any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information. Neither 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. SOURCE Metalex Ventures Ltd.
Yahoo
09-06-2025
- Business
- Yahoo
METALEX COMMENCES DRILLING OF COPPER-NICKEL-COBALT TARGETS AT B3 CLAIM BLOCK IN QUEBEC
KELOWNA, BC, June 9, 2025 /CNW/ - Metalex Ventures Ltd. (TSXV: MTX) (the "Company") announces the start of drilling at its 100% owned B3 claim block in Quebec testing promising geophysical anomalies for copper-nickel-cobalt mineralization. Claim Block B3 (Copper-Nickel-Cobalt) The 24,322 hectare B3 claim block was staked due to the Company's heavy mineral and soil-till sampling indicating it contains copper-nickel-cobalt sulphides. Metalex has undertaken a VTEM airborne geophysical survey over its B3 claim block by Geotech Ltd. The VTEM survey, which included both electromagnetic and magnetic data, was reviewed by SHA Geophysics Inc. Their work indicates that eight of the conductors detected by the electromagnetic survey are thought to likely represent sulphide mineralization. These are shown on Map 1. Drilling has now commenced on the first of these conductors. Claim Blocks A1 and A2 (Gold) When drilling at the B3 copper-nickel-cobalt project is complete Metalex hopes to move the drill to its A1 and A2 claim blocks staked for gold. These claim blocks were staked due to the promising gold and pathfinder element results from detailed heavy mineral sampling of the areas. A VTEM survey over the claim blocks identified several conductive and magnetic anomalies that could be the bedrock source of the gold. Regional Exploration The Company also intends to complete follow up heavy mineral sampling on gold anomalies identified by its +/- 10,000 sample regional database in Quebec. 185 gold anomalies thought to reflect bedrock rather than placer sources have been discovered in the survey. The technical information and results reported here have been reviewed by Mr. Chad Ulansky a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release. Signed, Charles Fipke Charles Fipke Chairman FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information", including statements regarding the expected use of proceeds of the private placement. Further, any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information. Neither 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. SOURCE Metalex Ventures Ltd. View original content to download multimedia:
