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Yahoo
11-06-2025
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SOMA GOLD INTERSECTS VENUS GAP VEIN AT DEPTH WITH 7.5 g/t Au OVER 6.0 m, EXTENDING ZONE BY 135 m
Highlights include the following drill intercepts: RVICDDH-24-032 1.7 m at 9.2g/t Au incl. 0.6 m at 18.8g/t Au RVICDDH-24-034 2.1 m at 11.9g/t Au incl. 0.65 m at 32.5g/t Au RVICDDH-24-040 6.0 m at 7.5g/t Au incl. 0.65 m at 9.3g/t Au and 0.5m at 67.8g/t Au VANCOUVER, BC, June 11, 2025 /CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the "Company" or "Soma") is pleased to announce ongoing drill results targeting the "Venus Gap" zone of the Cordero Mine on the Bagre Project in central Colombia (Figure 1). Twelve diamond drill holes, totaling 2,848 meters of underground drilling, were designed to test the dip extent of the Venus Gap Zone (see Figures 2 and 3). The drilling results outlined in this press release extend the dip of the vein by approximately 135 meters downdip. The Cordero Deposit is hosted in the El Carmen Stock and consists of coarse-grained tonalite, diorite, and gabbroic phases. The quartz veins form as laminated fault-fill veins within a sinistral brittle-ductile shear zone. They are interpreted as conjugate shears within a steeply dipping, north-striking regional shear zone. The controlling shear zone also hosts the Los Mangos Deposit, located 2.8 kilometres to the north. The quartz veins in the Cordero Deposit form a series of en echelon segments that consistently step to the right along strike. The veins have been repeatedly reactivated and exhibit three distinct phases of development: early barren quartz veins, sphalerite + galena + pyrite + gold mineralization controlled by microfractures, and brittle fracturing along the margins of the veins filled with quartz + pyrite + tellurides + gold. Gold mineralization occurs during the latter two phases of vein development. The final stage of brittle fracturing and micro-breccia is commonly associated with 'bonanza' gold grades. Subsequently, the veins are crosscut by aphanitic mafic dykes and numerous brittle faults. The brittle faults are generally dextral and offset the quartz veins from <1.0m to 10s of metres. The late brittle faults commonly dismember the mineralized veins into short strike-length segments, the continuity of which is difficult to discern from drill data. The Cordero Deposit is informally divided into five main zones: Athenas, Cordero, Venus, Venus Gap, and Victoria Ramp zones (Figure 2). Table 1: Composited assay results from the lower Venus Gap ZoneTable 1 Composited assay results from Lower Venus Gap Zone Hole ID From (m) To (m) Length (m) Au (g/t) Ag (g/t) RVICDDH-24-030 158.8 160.3 1.5 6.4 17.7 including 159.7 160.3 0.6 15.9 42.9 RVICDDH-24-031 141.5 143.7 2.2 6.7 8.4 including 141.5 142.3 0.8 7.3 6.9 including 142.3 142.7 0.4 14.9 23.0 RVICDDH-25-032 184 185.65 1.65 9.2 15.7 including 184 184.6 0.6 18.8 30.3 RVICDDH-25-034 154.45 156.55 2.1 11.9 31.8 including 154.45 155.1 0.65 32.5 92.1 RVICDDH-25-035 193 194.7 1.7 3.6 4.7 including 194 194.7 0.7 6.5 7.9 RVICDDH-25-036 204.1 205.1 1 1.4 1.9 RVICDDH-25-037 no significant results RVICDDH-25-038 no significant results RVICDDH-25-039 138.9 140.2 1.3 0.5 1.3 RVICDDH-25-040 176.6 182.6 6 7.5 10.2 including 177.25 177.9 0.65 9.3 21.4 including 180.05 180.55 0.5 67.8 39.7 RVICDDH-25-041 no significant results RVICDDH-25-042 169.4 172 2.6 6.7 9.9 including 171.4 172 0.6 19.5 33.8 Note: all intervals are presented as drilled width. True width is approximately 80%-90% of the drill interval. Soma's Vice President of Exploration, Chris Buchanan, stated, "Drilling in the Venus Gap Zone continues to return the broadest, high-grade intervals in the mine. Extending this zone down dip adds resources to the mine plan and supports development of deeper levels of the Venus and Venus Gap veins." Table 1 presents the composited assay results from twelve drill holes at the Venus Gap Zone. Assays in the drilling range from below detection to a maximum grade of 67.8 g/t Au. The drilling currently covers approximately 150 m of strike length between the southern-most drill intercept (RVICDDH-25-035) and the northern-most intercept (RVICDDH-25-040). RVICDDH-25-036 extends the known dip of the vein system 135m down dip from the 0770 level, the current mining operations. Like other parts of the Venus Gap Zone, wider zones of mineralized stockwork in the footwall of the principal gold-bearing quartz veins and in enclaves of wall rock between anastomosing vein segments were intersected. RIVICDDH-25-040 intersected the widest interval of gold mineralization in the lower Venus Gap with a total width of 6.0 m and an average grade of 7.5 g/t gold (Plate 1). Three of the drill holes intersected quartz veins but did not return significant gold assays (Table 1). This is attributed to the nuggety nature of the gold distribution observed across the Cordero Deposit. A long section of the drill intercepts is presented in Figure 3. The high-grade intercepts delineate multiple segments of the vein system that are separated by cross-cutting faults and late mafic dykes. Selected highlights from the 2024 drill campaign on the upper Venus Gap vein are presented in Table 2 (see news release dated November 12, 2024). Underground drilling is ongoing in this area to determine the strike and dip extents of the lower Venus Gap quartz veins. The vein segments are located proximal to existing mine workings in the Victoria Ramp and Venus Vein areas. Access to the lower Venus Gap is planned from the Victoria Ramp workings and is expected to intersect the veins in Q4 2025. Table 2: Selected highlight intersections from the upperVenus Gap vein (see press release dated November 12, 2024)Hole ID From (m) To (m) Length (m) Au (g/t) BAZUDDH-24-018 52.45 57.65 5.2 16.1 includes 52.45 53.25 0.8 94.3 includes 55.3 55.65 0.35 4.8 RVICDDH-24-018 71.6 73.1 1.5 6.6 includes 71.6 72.6 1 8.8 and 134 135 1 12.5 and 138.4 140.8 2.4 5.4 includes 139.4 140.1 1.4 8.5 and 144.55 145.55 1 2.7 RVICDDH-24-021 46 47 1 3.3 and 76.5 77.5 1 13.7 includes 77.1 77.5 0.4 34.3 and 81.5 82.5 1 11.2 includes 82.1 82.5 0.4 27.6 and 128.2 132.7 4.5 9.3 includes 128.8 129.4 0.6 8.3 includes 130.95 131.8 0.85 27.8 RVICDDH-24-024 71.6 74.6 3 8.9 includes 71.6 72.45 0.85 10 includes 74.2 74.6 0.4 45.1 and 140.4 147.95 7.55 13.9 includes 140.4 141.7 1.3 24.7 includes 146.5 147.95 1.45 48.6 and 151.5 153.3 1.8 4.5 includes 152.3 153.3 1 6.4 VICDDH-23-006 100.1 101.8 1.7 4.1 and 151.15 154.65 3.5 10.7 includes 151.15 151.8 0.65 9 includes 151.8 152.8 1 21.3 includes 152.8 153.65 0.85 10.7 and 158.4 161.2 2.8 1.7Note: Intervals are composited to a 1 m minimum stope width for conventional mining. The drillholes are targeted to intersect the vein orientation as perpendicular as possible. The true width is approximately 70% to 90% of the drilled width. In addition to supporting mining operations at Cordero Mine, Soma's exploration team continues to evaluate numerous small-scale mines near Machuca. Drilling is ongoing at the Colossa and Colossa 2 informal mines (Figure 4). Three high-priority Au anomalies close to informal mines were identified in the regional soil survey. Additionally, the copper anomaly identified on the soil grid is the focus of infill soil sampling and geological mapping. These targets are scheduled for detailed geological mapping and drilling in the second half of 2025. Soma also continues to work with the local communities on the Machuca Property as part of its ongoing ESG program. The Otú fault system ("Otú Fault") extends for over 100 km, from Aris's Segovia-Remedios mines (TSX:ARIS) in the south to Nechi in the north, where it is buried beneath younger sedimentary overlap sequences. Soma's property holdings now cover more than 56 km of this regional structure. High-grade gold mineralization occurs along the entire strike length of the Otú Fault. The high-grade gold occurs in brittle-ductile to brittle quartz veins formed during the later stages of deformation along the Otú Fault. Across the district, the quartz veins typically display orientation patterns that suggest the veins form in conjugate faults associated with brittle faulting on the Otú Fault. Notable deposits along this trend include Segovia-Remedios, La Aurora, El Limon, Le Ye, Los Mangos, and Cordero. The Machuca Property is located along a critical segment of this regional fault structure and displays multiple indications of high-grade gold mineralization. QA/QC Statement Soma follows a comprehensive QA/QC program to ensure the reliability of assay data collected from its exploration programs. All samples are sawn or split in half, with one half being returned to the core box for storage. The second half-core is placed in a labelled plastic bag with a tag, document, and sealed for shipment. Batches of samples are shipped to Actlabs Colombia SAS (Actlabs) in Rio Negro with security tags and documented chain of custody. Pulps of each sample are prepared in Rio Negro. Pulp samples are then shipped to Actlabs Canada for multi-element analysis. All samples are analyzed using package 1E3, an ICP-MS analysis that provides the concentration of 51 elements. Fire assay analysis for gold and Silver is completed by Actlabs in Rio Negro. Thirty-gram aliquots of each sample are analyzed for gold using a standard fire assay with an atomic absorption finish, package 1A2. Overlimit samples are subjected to an additional fire assay with a gravimetric finish, package 1A3-30, to determine the gold concentration. A comprehensive QA/QC program has been implemented to monitor the reliability of assay data collected during exploration programs. The program includes the regular insertion of certified blanks, duplicates, and certified OREAS standards. Assays of the QA/QC samples are automatically compared to the certified value and standard deviations in the database. Qualified Person Statement Mr. Chris Buchanan, is Soma's Vice-President of Exploration and a Qualified Person as defined by National Instrument 43-101. Mr. Buchanan has reviewed the technical information disclosed in this press release. ABOUT SOMA GOLD Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (Permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program. With a solid commitment to sustainability and community engagement, Soma Gold Corp. is dedicated to achieving excellence in all aspects of its operations. The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp. On behalf of the Board of Directors "Geoff Hampson"Chief Executive Officer and Chairman 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. All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements. SOURCE Soma Gold Corp. 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Yahoo
05-06-2025
- Business
- Yahoo
Defiance Silver Corp. Announces Upsize of the Brokered LIFE Offering and Non-Brokered Private Placement for Aggregate Gross Proceeds of up to C$14.5 Million
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2025) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) (the "Company", or "Defiance") is pleased to announce that, as a result of strong investor demand, the Company has increased the size of its previously announced "best efforts" private placement (the "Marketed Offering") from aggregate gross proceeds of up to C$8,000,000 to aggregate gross proceeds of up to C$13,000,000. The upsized Marketed Offering is comprised of the sale of up to 52,000,000 units of the Company (each, a "Unit") at a price of C$0.25 per Unit (the "Offering Price"). Each Unit will consist of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share (a "Warrant Share") at a price of C$0.35 at any time on or before that date which is 24 months following the Closing Date (as herein defined). Red Cloud Securities Inc. (the "Agent") is acting as sole agent and bookrunner in connection with the Brokered Offering (as defined herein). The Company has granted the Agent an option, exercisable in full or in part up to 48 hours prior to the closing of the Marketed Offering, to sell up to an additional 8,000,000 Units at the Offering Price for additional gross proceeds of up to C$2,000,000 (the "Agent's Option"). The Marketed Offering and the securities issuable upon exercise of the Agent's Option shall be collectively referred to as the "Brokered Offering." Concurrent with the Brokered Offering, the Company plans to complete a non-brokered private placement (the "Non-Brokered Offering", and collectively with the Brokered Offering, the "Offerings") of up to 6,000,000 units of the Company (the "NB Units", and collectively with the Units, the "Offered Securities") at a price of C$0.25 per NB Unit for additional gross proceeds of up to C$1,500,000. The NB Units will be issued on substantially the same terms as the Units. The NB Units will be offered by way of the "accredited investor" and "minimum amount investment" exemptions under National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"). The Company intends to use the net proceeds of the Brokered Offering for further exploration work on the Company's projects, to complete a mineral resource estimate at its San Acacio project, to make periodic cash option payments on its Tepal project, and to provide general working capital to support operations, as is more fully described in the Amended Offering Document (as defined herein). The net proceeds of the Non-Brokered Offering will be used to provide general working capital. Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Units will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The Common Shares and the Warrant Shares underlying the Units are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. There is an amended offering document (the "Amended Offering Document") related to the Brokered Offering that can be accessed under the Company's profile at and on the Company's website at: Prospective investors should read this Amended Offering Document before making an investment decision. The Offered Securities may also be sold in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction. All securities not issued pursuant to the Listed Issuer Financing Exemption will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the issue date of the Offered Security. The Brokered Offering is scheduled to close on June 17, 2025 or such other date as the Company and the Agent may agree (the "Closing Date"). Completion of the Offerings are subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the "TSXV"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act or under any securities laws of any State of the United States, 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 under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and all applicable state securities laws. About Defiance Silver Corp. Defiance Silver Corp. is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing, and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to expand the San Acacio and Tepal Projects to become premier Mexican silver and gold deposits. On behalf of Defiance Silver Corp. "Chris Wright" CEO & Chairman of the Board For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at info@ Suite 2900-550 Burrard Street Vancouver, BC V6C 0A3CanadaTel: +1 (604) 343-4677Email: info@ Disclaimer 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 release. Forward-Looking Information This news release contains statements that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities laws (collectively, "forward-looking information"). In particular, this press release contains forward-looking information relating to, among other things, the Offerings, the anticipated closing date of the Brokered Offering, the intended use of proceeds of the Offerings, approval of the TSXV and the filing of the Amended Offering Document. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Defiance's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information consists of 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. Although Defiance believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES 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
10-04-2025
- Business
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African Energy Metals Amends Private Placement
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2025) - African Energy Metals Inc. (NEX: CUCO.H) (FSE: BC2) (WKN: A3DEJG) ("African Energy Metals" or the "Company") announces it has amended the terms of its previously announced private placement. Amended Concurrent Part and Parcel Private Placement The Company previously announced its intention to complete a non-brokered concurrent part and parcel private placement (the "Financing") of up to 10,000,000 units (each, a "Unit") at a price of CAD $0.10 per Unit for aggregate proceeds of up to CAD $1,000,000. Each Unit will consist of one (1) common share of the Company (a "Share") and one-half of one (1/2) common share purchase warrant (each whole warrant, a "Warrant"), each Warrant to entitle the holder thereof to acquire one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.20 per Warrant Share at any time prior to 5:00 p.m. (Vancouver time) on the date that is 24 months following the closing date. The Financing is being amended to now contemplate the issuance up to 15,000,000 Units at a price of CAD $0.10 per Unit, for aggregate proceeds of up to CAD $1,500,000. The proceeds from the Financing will be used for additional work programs on the Company's Niñobamba advanced silver gold project and for general working capital. Regulatory Approvals The Company has made applications to the TSX Venture Exchange (the "TSXV") and the NEX Exchange to, among other matters, approve the Financing. Closing of these matters, including the Financing, is subject to receipt of all necessary corporate and regulatory approvals, including approvals of the TSXV and NEX Exchange. The securities being offered under the Financing have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation, or sale would be unlawful. About African Energy Metals African Energy Metals is a natural resource company with a focus on the acquisition, exploration, development, and operation of precious metal mining exploration projects. The Company's primary focus will be on exploring and developing the advanced Niñobamba silver gold project in the mining supportive country of Peru. For further information, please contact African Energy Metals:Stephen Barley, Executive Chairman Jason Baker, Chief Financial OfficerPhone: +1-604-252-2672Email: info@ Website: Reader Advisory This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in African Energy Metals' periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include those in relation to African Energy Metals' ability to complete the Financing and the expected use of proceeds therefrom. Although African Energy Metals believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can't make any assurances that its expectations will be achieved. Such assumptions may prove incorrect. Although African Energy Metals has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that African Energy Metals will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and African Energy Metals disclaims any intention or obligation to update or revise such information, except as required by applicable law. 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. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit Sign in to access your portfolio
Associated Press
08-04-2025
- Business
- Associated Press
Linear Minerals Drills 1.00 Percent Lithium Oxide over 8.90 meters at Augustus
VANCOUVER, BC / ACCESS Newswire / April 8, 2025 / Linear Minerals Corp. ('formerly FE Battery Metals Corp"(CSE:LINE)(OTCQB:LINMF)(WKN:A2J C89) ('Linear " or the 'Company') is pleased to announce results of Drill Holes LC24-97 of its 2024 exploratory drill program at its Augustus Lithium Property in Quebec, Canada. The drill hole LC24-97 intercepted four lithium bearing zones of various grades and thicknesses, including an intercept of 1.00 percent (%) lithium oxide (Li2O) over 8.90 m at a drilled depth of 139 meters. Additionally, the hole returned anomalous values of other rare metals such as beryllium (Be), cesium (Cs), niobium (Nb), tantalum (Ta) and rubidium (Rb), along with anomalous nickel (Ni) and chromium (Cr) at various depths (see Tables 1 and 2 for details). LC24-97 Highlights The mineralization in four lithium zones is distributed in mixed lithologies of pegmatites with spodumene as main lithium mineral, as well as in the basement rocks with Holmquistite being the main lithium minerals. This hole was placed about 40 m step out from drill hole LC21-20 and was aimed at increasing the footprint of the main Augustus mineralized zone. Four Lithium Intercepts: 3.35 m at 0.82% Li2O from 10.15 m depth, with 714 ppm Cs and 1,550 ppm Rb. 4.25 m at 1.19% Li2O from 89.4 m depth, with 215 ppm Be, 61 ppm Ga, 369 ppm Rb, 79 ppm Nb, and 179 ppm Ta. 10 m at 0.67% Li2O from 97.4 m drilled depth, with 451 ppm Be, 1,206 ppm Cs, 57 ppm Ga, 4,178 ppm Rb, 49 ppm Nb, and 72 ppm Ta. 8.90 m at 1% Li2O from 139 m depth, with 288 ppm Be, 560 ppm Cs, 88 ppm Ga, 3,947 ppm Rb, 73 ppm Nb, and 87 ppm Ta. Drill Program Details: Drill hole LC23-97 was drilled at location 5367785.908N, 287015.498E, UTM NAD 1983 Zone 18N, at azimuth 28.31 degrees (true north) and dip -50 with a drilled depth of 161 m. The drill hole was placed at the main Augustus zone. The drill program was designed based on historical and current exploration data. Drilling was conducted by Forage Pelletier Drilling of Chapais, Quebec, and core logging and sampling took place at a core shack in St-Dominique du Rosaire, approximately 50 km from the property. The 2024 drill program included 11 drill holes, totaling 1,558 metres. To date, a total of 100 drill holes have been completed on the Property, with a cumulative diamond drilling of 18,165.64 metres. Drill core was sampled using a rock saw. For quality control and assurance (QA/QC), field duplicates, standards, and blanks were inserted at industry-standard intervals. Samples were bagged and tagged using best practices before delivered to AGAT Laboratories in Val-d'Or, QC, for analysis. AGAT performed Sodium Peroxide Fusion with ICP-OES and ICP-MS Finish (Code 201-378). AGAT is an independent, accredited laboratory with ISO certification for certain tests. All intersections reported are based on drilled width and have not been converted to the true width. Qualified Person: Afzaal Pirzada, an independent geological consultant of the Company, and a 'Qualified Person' for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects , has reviewed and approved the scientific and technical information contained in this news release. About the Augustus Lithium Property The Company owns 100% of an interest in the Augustus Property located in Landrienne and Lacorne-Townships, Quebec, Canada. The Property covers a total area of over 15,000 hectares, approximately 40 kilometres northwest of the town of Val d'Or. To date, 100 diamond drill holes totaling 18,165.64 metres have been completed on the Property. ON BEHALF OF THE BOARD OF Linear Minerals Corp. 'Gurminder Sangha' Gurminder Sangha CEO & Director Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release. Forward-looking Information This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company's exploration plans, potential mineralization, and future activities. While the Company believes the assumptions underlying such information are reasonable, actual results may vary, and undue reliance should not be placed on forward-looking statements. Table 1: Drill Hole LC24-97 Assay Highlights Lab Sample ID Field Sample ID Depth From (m) Depth To (m) Total Width (m) Analyte: Be Cr Cs Fe Ga Li Li2O Nb Ni Rb Ta Unit: ppm % ppm % ppm ppm % ppm ppm ppm ppm RDL: 20 0.002 0 0.01 0.5 10 5 10 2 0.5 6372332 1157604 10.15 11.15 1 Holmquistite <20 0.022 279 5.49 21.4 5,120 1.10 12 127 690 3.1 6372333 1157605 11.15 12.05 0.9 Holmquistite 22 0.016 249 4.45 20.4 5,330 1.15 9 93 598 1.1 6372334 1157606 12.05 12.6 0.55 Chlorite schist <20 0.065 1,730 7.47 24.8 1,920 0.41 13 368 3,260 6.1 6372335 1157607 12.6 13.5 0.9 Holmquistite 28 0.035 599 5.61 27.1 2,940 0.63 10 195 1,650 3.2 First Lithium Intercept 10.15 13.5 3.35 25 0 714 6 23 3,828 0.82 11 196 1,550 3 6372336 1157608 13.5 14.35 0.85 Pegmatite 329 0.003 17 0.58 48.8 110 0.02 63 10 108 82.9 6372337 1157609 14.35 15.35 1 Country Rock 62 0.221 1,190 6.68 21.7 1,500 0.32 14 635 2,170 11.6 6372339 1157611 34.15 35.15 1 Country Rock 162 0.193 283 5.4 30.9 448 0.10 23 1470 1,210 28.6 6372340 1157612 35.15 36.15 1 Pegmatite 421 0.006 96 0.78 63.5 1,380 0.30 90 27 684 108 6372341 1157613 36.15 37.15 1 Pegmatite 84 0.002 27 0.48 53 147 0.03 114 <10 307 162 6372342 1157614 37.15 37.85 0.7 Pegmatite 395 0.002 30 0.45 47.8 149 0.03 140 <10 160 192 6372343 1157615 37.85 38.85 1 Meta Basalt 22 0.216 272 5.67 26.6 589 0.13 11 1740 980 5.8 6372344 1157616 85.85 86.85 1 Country Rock <20 0.353 23 6.95 10.2 60 0.01 7 1800 48 <0.5 6372345 1157617 86.85 87.85 1 Country Rock 98 0.289 1,320 5.91 19.6 799 0.17 7 1540 3,380 21.5 6372346 1157618 87.85 88.85 1 Country Rock 29 0.169 1,360 5.22 26.4 1,140 0.25 6 1400 3,720 7.3 Anomalous Ni-Cr Zone 85.85 88.85 3 0.26 744 6 21 647 0.14 8 1620 2,032 12 6372347 1157619 88.85 89.4 0.55 Pegmatite 165 0.003 26 0.54 34.1 644 0.14 57 <10 360 77.2 6372349 1157621 89.4 90.5 1.1 Pegmatite 337 0.003 44 0.61 64.9 5,130 1.10 113 <10 368 301 6372350 1157622 90.5 91.5 1 Pegmatite 175 0.002 30 0.56 66.2 5,510 1.19 69 <10 412 143 6372351 1157623 91.5 92.55 1.05 Pegmatite 200 0.003 28 0.56 67.3 6,520 1.40 93 <10 271 187 6372352 1157624 92.55 93.65 1.1 Pegmatite 148 0.003 68 0.56 46.4 4,950 1.07 42 <10 426 84.6 Second Lithium Intercept 89.40 93.65 4.25 215 0.003 43 1 61 5,528 1.19 79 <10 369 179 6372353 1157625 93.65 94.75 1.1 Schist <20 0.18 284 6.03 20 239 0.05 9 1,750 741 23.1 6372354 1157626 94.75 95.75 1 Schist <20 0.167 12 6.19 9.7 55 0.01 6 1,760 10 <0.5 6372355 1157627 95.75 96.75 1 Schist <20 0.144 13 5.86 7.9 51 0.01 9 1,630 10 <0.5 6372356 1157628 96.75 97.40 0.65 Schist <20 0.144 4 5.32 6.8 54 0.01 <5 1,390 9 <0.5 Anomalous Ni-Cr Zone 93.65 97.40 3.75 0.16 1,633 6372357 1157629 97.40 98.10 0.7 Schist 102 0.101 2,530 4.39 42 1,630 0.35 17 914 6,990 50.7 6372359 1157631 98.10 99.00 0.9 Pegmatite 462 0.003 56 0.78 56.4 3,580 0.77 62 <10 472 97.6 6372360 1157632 99.00 100.00 1 Pegmatite 308 0.003 45 0.58 56 3,830 0.82 59 <10 589 122 6372361 1157633 100.00 100.40 0.4 Pegmatite 1270 0.003 96 0.4 56.9 616 0.13 39 <10 216 78 6372362 1157634 100.40 101.4 1 Schist 290 0.126 2,540 3.39 87.7 4,320 0.93 35 1480 9,530 48.9 6372363 1157635 101.40 102.4 1 Schist 317 0.115 3,330 4.08 76.4 4,270 0.92 25 986 9,930 27.1 6372364 1157636 103.80 104.8 1 Schist 156 0.096 1,840 4.56 50 3,550 0.76 26 948 7,610 28.4 6372365 1157637 104.80 105.6 0.8 Pegmatite 753 0.003 79 0.6 56.8 4,040 0.87 145 <10 383 142 6372366 1157638 105.60 106.4 0.8 Pegmatite 398 0.029 725 1.63 73.9 4,330 0.93 79 265 3,540 119 6372367 1157639 106.40 107.4 1 Schist <20 0.192 818 5 17.2 738 0.16 6 1610 2,520 3.9 Third Lithium Intercept 97.40 107.4 10 451 0.07 1,206 3 57 3,090 0.67 49 4,178 72 6372369 1157641 138.00 139 1 Schist <20 0.128 1,840 9.14 40.4 2,060 0.44 33 632 6,000 5.7 6372370 1157642 139.00 140.00 1 Schist 154 0.094 1,350 3.15 102 4,130 0.89 89 322 6,490 97.4 6372371 1157643 140.00 141.05 1.05 Schist 638 0.002 50 0.31 40.2 140 0.03 36 <10 117 43.2 6372372 1157644 141.05 142.1 1 Peg/schist 411 0.048 394 1.41 70.7 1,740 0.37 74 147 2,020 90.6 6372373 1157645 142.05 143 0.95 Peg/schist 262 0.026 227 0.92 77.5 3,820 0.82 80 70 1,740 108 6372374 1157646 143.00 143.9 0.85 Peg/schist <20 0.15 1,220 3.09 121 6,960 1.50 98 497 9,380 69 6372375 1157647 143.85 144.50 0.65 Peg/schist <20 0.058 803 1.89 125 5,450 1.17 96 203 7,450 127 6372376 1157648 144.50 145.20 0.7 Peg/schist 267 0.003 34 0.58 58.4 7,350 1.58 53 <10 176 110 6372377 1157649 145.20 145.95 0.75 Peg/schist 287 0.004 47 0.66 66 7,040 1.52 37 16 353 69.3 6372379 1157651 145.95 147.00 1.05 Peg/schist 21 0.11 982 2.56 129 6,280 1.35 98 511 7,760 90.6 6372380 1157652 147.00 147.90 0.9 Peg/schist 267 0.034 498 1.44 94.8 3,670 0.79 65 180 3,980 68.9 Fourth Lithium Intercept 139.00 147.90 8.90 288 0.05 560 2 88 4,658 1.00 73 243 3,947 87 6372381 1157653 147.90 149.00 1.1 Peg/schist 333 0.003 50 0.39 57.5 333 0.07 50 <10 440 80.2 6372382 1157654 149.00 150.10 1.1 Peg/schist 456 0.002 53 0.46 55.4 2,490 0.54 60 <10 353 94.5 6372383 1157655 150.10 151.10 1 Schist 76 0.225 2,560 5.78 71.5 2,470 0.53 17 912 7,950 17.5 6372384 1157656 151.10 152.10 1 Country Rock <20 0.273 1,050 5.94 23.3 865 0.19 <5 1320 3,250 <0.5 Note: A standard conversion factor of 2.15 was used to report Li to Li2O values All intersections reported are based on drilled width and have not been converted to the true width.
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07-04-2025
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CORRECTION FROM SOURCE: Defiance Silver to Acquire Mexico-Focused Green Earth Metals
This press release rectifies the version of the press release issued by Defiance Silver on April 7, 2025 at 1:00am EST in order to correct a typing error. Under the terms of the LOI, Defiance proposes to issue 4,954,613 Defiance Shares of Defiance at a price of C$0.255 per share and not C$0.0255 as announced previously. Vancouver, British Columbia--(Newsfile Corp. - April 7, 2025) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent ("LOI") with Green Earth Metals Inc. ("GEMS"), a privately held company holding a portfolio of assets in Mexico. Under the terms of the LOI, Defiance proposes to acquire all issued and outstanding shares of GEMS in a strategic transaction (the "Transaction"). The terms of the Transaction are discussed further below. Transaction Highlights: Strategic Acquisition: Defiance proposes to acquire 100% of GEMS, a private British Columbia-based company founded by renowned discovery geoscientist Richard Osmond. High-Quality Asset Portfolio: GEMS holds rights to three drill-permitted copper-gold-silver-molybdenum projects in Mexico's Sonoran Desert porphyry copper belt, covering a total of 6,795.22 hectares. Prime Mining Jurisdiction: The acquired projects are strategically located near Alamos Gold's operating Mulatos Mine, where the recently permitted "Puerto del Aire" mine-extension is under development. The area hosts top tier copper deposits, including the Cananea and La Caridad Cu-Mo±Au porphyry systems—two of the largest copper mines in North America. Significant Exploration Upside: With drill permits already in place, Defiance plans to launch a comprehensive exploration campaign, including a diamond drill program at the Victoria project. Chris Wright, Chairman and CEO of Defiance, commented: "This acquisition aligns with Defiance Silver's core strategy of acquiring and advancing top tier mining projects. Our goal is to develop assets that will play a leading role in the future of gold, silver, and copper mining in Mexico. The Green Earth Metals team consists of seasoned mine financiers and global mineral explorers, and we are pleased to welcome them as shareholders. Securing this portfolio of drill-ready copper-gold-silver projects in Sonora-one of the world's premier copper-gold mining jurisdictions—represents a major step forward for Defiance. This transaction strengthens Defiance's asset base, enhances its exploration potential, and reinforces our commitment to unlocking value for shareholders." The GEMS Assets—comprising the Victoria, Espiritu and Los Ocotes project areas—offer high-grade, district-scale potential in a proven mining jurisdiction. Situated in a region known for its rich mineral endowment, these assets are surrounded by large copper, gold, and silver mines operated by leading Tier-One global mining companies. Strategic Location Near Major Producing Mines The GEMS assets are situated in proximity to several large, active mining operations, including: La India Mine (Agnico Eagle) Mulatos Mine (Alamos Gold) Dolores Mine (Pan American Silver) Cananea Cu-Au-Mo Mine and La Caridad Cu Mine & SXEW Plant (Grupo Mexico) These nearby operations demonstrate the region's rich mineral potential. However, the Company and its qualified personnel have not independently verified the technical information regarding these mines and this information should not be considered indicative of mineralization on the Company's properties. Exploration Potential Historical exploration and sampling across the GEMS projects have identified extensive geological features indicative of a large-scale hydrothermal Cu-Au system. These findings suggest strong potential for resource expansion using modern exploration techniques. Victoria Project – Drill-Ready Copper-Gold-Molybdenum Asset The Victoria Project consists of two non-contiguous mineral claims totaling 1,795.22 hectares in the Sonora, Mexico mining district. This region is home to several major mining operations, including Mulatos (Alamos Gold), Dolores (Pan American Silver), and the privately owned Piedras Verdes Mine (Frontera Copper). Victoria is located within the highly productive Sonoran Desert porphyry copper belt, an area known for hosting significant copper-gold deposits. Exploration Highlights: Geological indicators suggest porphyry-style stockwork and breccia-hosted Cu-Mo-Au mineralization. Strong phyllic alteration overprinting potassic alteration, leading to leached capping at the surface and low surface copper grades. The Company is committed to advancing exploration efforts on the Victoria, Espiritu and Los Ocotes projects and unlocking the full potential of this highly prospective, district-scale opportunity. Figure 1 - Map of location of Victoria, relative to large active mining operations To view an enhanced version of this graphic, please visit: Figure 2 - Photo of Victoria asset showing surface alteration of large hydrothermal system To view an enhanced version of this graphic, please visit: Espiritu Project The Espiritu Project, located near Sahuaripa, Sonora, spans 2,711 hectares and exhibits characteristics indicative of a large, metal-bearing hydrothermal system. Despite its promising geological setting, Espiritu remains underexplored. Espiritu is strategically positioned within the highly productive Sahuaripa region of Sonora, Mexico, approximately 100 km from several major mining operations, including: La India Mine (Agnico Eagle) Mulatos Mine (Alamos Gold) Dolores Mine (Pan American Silver) Los Ocotes Project The Los Ocotes Project is a 2,283-hectare polymetallic vein asset located within the same regional trend as the Victoria and Espiritu projects. The project is strategically positioned less than 40 km northeast of the La India and Mulatos gold mines and approximately 18 km northeast of Minera Alamos Inc.'s Santana Mine, a heap-leach gold operation. Note regarding nearby mines for the Espiritu and Los Ocotes Projects: The Company and its qualified personnel have not independently verified the information on these nearby mining operations and such information is not necessarily indicative of mineralization on the Company's properties. LOI TERMS Under the terms of the LOI, Defiance proposes to issue common shares ("Defiance Shares") to GEMS shareholders in exchange for all of the issued and outstanding common shares of GEMS (the "GEMS Shares"), based on an exchange ratio of 1 Defiance Share for every 4.52 GEMS Shares. In total, Defiance proposes to issue 4,954,613 Defiance Shares of Defiance at a price of C$0.255 per share, for a total purchase price of C$1,250,000 (excluding the Convertible Debenture Financing – see details below). Upon the closing of the Transaction, GEMS will become a wholly-owned subsidiary of Defiance. In connection with the Transaction, Defiance has also agreed to invest in GEMS through an unsecured convertible debenture (the "Convertible Debenture") for a total amount of C$150,000 (the "Convertible Debenture Financing"). The Convertible Debenture will bear simple interest at 8.0% per annum and will mature two years from the closing of the Convertible Debenture Financing. At the closing of the Transaction, the principal amount of the Convertible Debenture and accrued interest thereon will be convertible, for no additional consideration, into GEMS Shares at the option of Defiance, at a price of C$0.05 per GEMS Share, subject to customary adjustments in accordance with the terms of the Convertible Debenture certificate. Notwithstanding the foregoing, in the event the LOI is terminated or the Transaction not completed, other than as a result of the failure of GEMS shareholders to tender at least 90% of their GEM Shares in exchange for Defiance Shares, the principal amount of the Convertible Debenture and accrued interest thereon will be converted into GEMS Shares at a conversion price of C$0.05 per share in full payment of the Convertible Debenture. In the event Defiance does not complete the Transaction solely as a result of the failure of GEMS shareholders to tender at least 90% of their GEMS Shares in exchange for Defiance Shares, the Convertible Debenture will continue in accordance with its terms. The completion of the Transaction is subject to numerous conditions customary to this type of transaction including, notably, the completion of a satisfactory due diligence on GEMS by Defiance, execution of a mutually acceptable definitive agreement between Defiance, GEMS and the shareholders of GEMS (the "Definitive Agreement") and any other ancillary agreements required to complete the Transaction, GEMS shareholders holding at least 90% of the GEMS Shares issued and outstanding having executed the Definitive Agreement, thereby accepting to tender their GEMS Shares in exchange for Defiance Shares, no material adverse change with respect to GEMS or Defiance having occurred, and the receipt of all required corporate and regulatory approvals, including the approval of the TSX Venture Exchange, and any other required approvals, consents, permits, waivers, exemptions and orders which may be required to complete the Transaction. The Transaction is expected to be completed within a delay of approximately 75 days following the execution of the Definitive Agreement. Qualified Person Mr. George Cavey, P. Geo, Vice-President Exploration and Director of the Company, is a Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this press release. On behalf of Defiance Silver Corp. "Chris Wright" CEO and Chairman of the Board For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at info@ 2900-550 Burrard StreetVancouver, BC V6C 0A3CanadaTel: +1 (604) 343-4677Email: info@ About Defiance Silver Corp. Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing, and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to advance our projects through capital-efficient exploration focused on resource growth and new mineral discoveries. Disclaimer 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 Statement Regarding Forward-Looking Information All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding anticipated benefits of the Transaction, the closing of the Transaction and the timing and terms thereof, the potential of the combined projects of both companies (the "Projects"), the satisfaction of the conditions to the Transaction; the strengths, characteristics and potential of the Transaction; growth potential and expectations regarding the timing, receipt and anticipated effects of required consents and approvals; the impact of the Transaction on Defiance, GEMS and their respective shareholders and other stakeholders; and other anticipated benefits of the Transaction. Although Defiance believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators, and assumptions made with regard to: the Company's ability to complete the proposed Transaction; the Company's ability to secure the necessary legal and regulatory approvals required to complete the Transaction; the estimated costs associated with the advancement of the Projects; and the Company's ability to achieve the synergies expected as a result of the Transaction. Forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include risks associated with the business of Defiance and GEMS; risks related to the satisfaction or waiver of certain conditions to the closing of the Transaction; non-completion of the Transaction; risks related to reliance on technical information provided by GEMS; risks related to exploration and potential development of the Projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups / local communities in the exploration and development of the Projects and the issuance of required permits; the need to obtain additional financing to develop the Projects and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as identified in Defiance's filings with Canadian securities regulators on SEDAR+ (available at The forward-looking information contained in this news release is made as of the date hereof and Defiance does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. To view the source version of this press release, please visit
