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Associated Press
22-05-2025
- Business
- Associated Press
DRILL PROGRAM BEGINS AT LAPON CANYON A NEVADA CANYON OWNED ROYALTY AND EXPORATION STREAM
Reno, Nevada, May 22, 2025 (GLOBE NEWSWIRE) -- Nevada Canyon Gold Corp. (OTCQX: NGLD) (The 'Company' or 'Nevada Canyon') is pleased to announce it has been informed that the 2025 reverse circulation ('RC') drill program has begun at the Lapon Canyon Project, (the 'Project') on which the Company holds a 3% Net Smelter Royalty ('NSR') and an Exploration Stream Earn-in Agreement. Walker River Resources Corp. ('Walker River') (TSX.V: WRR) owns a 100% undivided interest in the Project consisting of 96 unpatented lode claims, situated within the prolific Walker Lane gold trend, approximately 40 miles southeast of Yerington, Nevada. As per the Walker River press release dated May 22, 2025: The initial 2025 drill program at Lapon Canyon will consist of exploration drilling near the historical Lapon Canyon Mine, the 'Central Zone', and the newly discovered 'Hot Spot Zone'. Drill holes are planned to extend known gold-bearing mineralized zones along trend and at depth, as well as to target new areas of mineralization previously untested. Lapon Canyon's 'Hotspot Zone' is a primary target for the 2025 drill program. Following up on the previously unknown, high-grade, near surface Hotspot discovery, made in 2021. Walker River will carry out grid-style drilling over the target, testing for extension of the mineralized zone in all directions as well as for continuity with the mineralization of the 'Central Zone'. Grid drilling will consist of pads placed at approximately 30 m centres on section, with up to five holes planned per pad. The mineralization is not visible at surface, as it is overlain by approximately 3 m of loose colluvium, making the target unexposed, but also making drill road access and pad construction quicker at less cost. Surficial mapping and rock sampling will be carried out at bedrock exposures surrounding the Lapon Canyon gold targets. Structural data collection will be a key objective, as Walker aims to focus in on the structural controls of high-grade mineralization and the broad disseminated deposits enveloping them. 'We are excited for the 2025 drill program at Lapon to begin, given the results of previous drilling which continued to confirm the potential value of the project. The NSR we have on Lapon reflects the growing value of the project,' said Nevada Canyon Chairman and CEO, Alan Day, 'We look forward to the continued advancement of Lapon Canyon and the ongoing interpretation of its gold mineralization, that we expect will continue to show the potential of our entire portfolio of Nevada based royalties and streams.' Walker River also announced it has retained Geoex Exploration (Geox) of Vancouver BC., a full-service mineral exploration consulting firm. Geox will be responsible for the management and supervision of the drilling database, geological mapping, producing drill logs from RC chips, and producing a three-dimensional model of the Lapon Canyon . Initial interpretations of Lapon's historical data have been used to produce a geological model of the Central and Hot Spot zones, which already has greatly enhanced the planning and design of the 2025 drill program. Walker River has completed considerable exploration work to date, with numerous drill hole intercepts that have indicated significant gold mineralization. The drill programs at Lapon Canyon will consist of definition and systematic drilling on section for geological modelling purposes, exploration drilling to discover new gold mineralization, extension of known gold mineralization, in several directions, including at depth. The results from the 2025 drill programs and subsequent data compilation will enable the completion of an initial NI 43-101 compliant mineral resource on the Project. About the Lapon Canyon Project Lapon Canyon hosts historical, high grade gold mining with approximately 2,000 feet of underground workings in three adits. Historical underground work returned numerous assay values in the one-ounce-per-ton range. (NI 43-101, Montgomery and Barr, 2004). Walker River has completed considerable exploration work to date, with numerous drill hole intercepts that have indicated significant gold mineralization. The Project is easily accessible by secondary state roads from the main highway (15 miles), and is located approximately 40 miles southeast of Yerington, Nevada. A state power grid transmission line passes within 2 miles of the Project. Nevada Canyon owns a 3% NSR and an Exploration Earn-In Agreement on the project. The Exploration Earn-in Agreement grants Nevada Canyon the exclusive right to earn and purchase up to a 50% interest in the Lapon Canyon Project by funding cumulative Exploration Expenses of US$5,000,000 over a three-year period. About Nevada Canyon Gold Corp. Nevada Canyon Gold Corp. is a US-based natural resource company headquartered in Reno, Nevada. The Company has a large, strategic land position and royalties in multiple projects, within some of Nevada's highest-grade historical mining districts, offering year-round access and good infrastructure in proven and active mining districts. The Company has a three-fold business model; i) mineral royalty creation and acquisition; ii) precious-metals and exploration streaming & financing; and iii) exploration project accelerator. For further information please contact: Corporate Communications Larry Heuchert Tel: 1-888-909-5548 Ext. 2 Email: [email protected] Web: Forward-Looking Statements The information posted in this release may contain forward-looking statements. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by use of the words 'may,' 'will,' 'should,' 'plans,' 'expects,' 'anticipates,' 'continue,' 'estimate,' 'project,' 'intend,' and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of exploration, delays in completing various engineering and exploration programs, and any potential results from such programs. Specifically, forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Company properties, its royalties owned on properties and various other factors beyond the Nevada Canyon Gold Corp.'s control. The Company's actual results could differ materially from those discussed in this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation. Investors are advised to carefully review the reports and documents that Nevada Canyon Gold Corp. files from time to time with the SEC, including its Annual Form 10K for the fiscal year ended December 31, 2023, Quarterly Reports and Current Reports.
Associated Press
13-05-2025
- Business
- Associated Press
Romios Announces Field Work and Lakehead University M.Sc. Research Project on the Kinkaid High grade Cu-Au-Ag Project, Nevada
Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ('Romios Gold' or the 'Company') is pleased to announce that is has started its 2025 field work on its 100% owned Kinkaid high grade Cu-Au-Ag project in the Walker Lane of southern Nevada. 'We've had early success as our team uncovered two previously unknown broad zones of epithermal-style alteration about 20 metres wide near known high-grade Au +/- Ag mineralization,' stated Stephen Burega, President and CEO. 'In addition, minerals characteristic of porphyry-type alteration have now been mapped around one of the major Au-Ag-Cu vein deposits (the Montreal Au-Ag Mine), and porphyry-type alteration has been located in widespread boulders near a series of high-grade copper-rich boulders on the KIN claims.' At least 12 clusters of old mine workings on the main Kinkaid claim block (see Map 1) have returned numerous high-grade gold, silver and copper assays over the past 2-3 years of Romios' work. 'The historic workings on the southern claims exploited quartz +/- barite veins flanked by often intense sericite alteration and those on the northern claims were developed on skarn deposits,' stated John Biczok, VP Exploration. 'This geological setting suggests that the veins and skarns are part of the upper portions of several possible porphyry Cu-Au-Ag centres.' Masters of Science ( Research Project with Lakehead University Under the terms of an existing, fully funded research agreement with Lakehead University in Thunder Bay, Ontario, an student under the guidance of porphyry copper expert Dr. Pete Hollings has now begun mapping and sample collection on the Kinkaid claims in an effort to help determine the origin, extent, controls and potential of this mineralization. The work will include age-dating various lithologies of interest, fluid inclusion studies of the vein deposits, plus hyperspectral, geochemical and mineralogical analysis of the alteration patterns around the mineralized zones. Alteration minerals such as actinolite, epidote and biotite, which are typically developed concentrically around porphyry copper deposits, are being documented near some of the main workings and will be studied to help assess the premise that these Cu-Au-Ag vein deposits are related to porphyry systems at depth. Dr. Pete Hollings has authored or co-authored more than 175 publications, primarily on mineral deposits and greenstone belt geology, in collaboration with researchers from many countries including Australia, Canada, China, and the Philippines. He is currently the NOHFC Industrial Research Chair in Mineral Exploration and has recently been onsite at Kinkaid providing guidance to the student and sharing his expertise with Romios personnel. ONGOING EXPLORATION: In conjunction with the research, Romios personnel have resumed geological mapping and sampling of the extensive old mine workings and showings on the main KINKAID claim block as well as exploring the potential source area of high-grade copper boulders found on the adjacent KIN claims in 2023. Numerous epidote+/-garnet altered boulders typical of porphyry/skarn systems have now been located across a broad area on the KIN claims and work is ongoing to locate the source of the nearby mineralized boulders. Nine samples of these boulders sampled in 2023 returned assays of 0.73% to 13.3% Cu, and averaged 5.03% Cu ( see Romios press release Oct. 12, 2023 ). 'Work around the >500 metre long series of innumerable Montreal Au-Ag Mine workings has now outlined strong hydrothermal alteration (sericite +/- epidote, actinolite, rare magnetite, etc.) across a width of 200 metres,' Biczok continued. 'Mapping of one of the northernmost underground workings revealed an excellent example of a mineralized vein up to 1 m wide with locally abundant chalcopyrite and secondary copper minerals (see Photo #1). Gold is typically proportional to the copper content in this deposit so we are optimistic that the pending Cu-Au assays from this site will also be encouraging.' [ This image cannot be displayed. Please visit the source: ] Photo 1: View of one of the northernmost workings of the Montreal Au-Ag mine. To view an enhanced version of this graphic, please visit: EPITHERMAL POTENTIAL: In addition to this renewed work on the high-grade vein and skarn prospects, the 2025 work has targeted several broad zones of potential low-grade epithermal style gold mineralization. During a brief visit in 2024 Romios' geologists collected a sample of 'low temperature silica' near the PM skarn on the northern claims and this sample assayed 0.79 g/t Au and a chip sample of two narrow quartz veins nearby assayed 10.6 g/t Au. An examination of this area in 2025 revealed similar looking silica boulders and veins up to 50 cm wide across a 20 metre wide zone (See Photo 2); the 2025 assays from this site are pending. A small mine dump nearby consists of iron carbonate - quartz vein material that assayed 1,725 g/t Ag with high mercury, antimony, zinc and lead, providing further evidence of an epithermal mineralizing event overprinting the skarns in this area ( see Romios Press Release March 10, 2022 ). [ This image cannot be displayed. Please visit the source: ] Photo 2: Possible epithermal silica overprint on the PM skarn area. To view an enhanced version of this graphic, please visit: Similarly, broad zones of potential epithermal-style alteration adjacent to vein prospects with high gold, silver, copper and barite contents have been sampled for the first time at a number of other sites; assays are pending. Once the assay results have been received from the current work program an appropriate follow-up program will be planned and executed. [ This image cannot be displayed. Please visit the source: ] Map 1: Kinkaid Project main claim block, prospects and possible porphyry centres. To view an enhanced version of this graphic, please visit: Claim Details and Location The Kinkaid property is wholly owned by Romios and now consists of 139 claims, covering approximately 11.0 sq km, located 18 km east of the town of Hawthorne where the prolific Walker Lane trend overlaps the southern edge of the mineral-rich Basin and Range geological province. The claims begin 1.4 km north of Highway 95 between Reno and Las Vegas and are largely accessible by road and short hikes. A significant power line crosses the SW corner of the claims. QA/QC Rock samples reported herein were a mix of chip and grab samples considered generally representative of the various mine dumps, veins and outcrops being sampled. Samples collected in 2021-2023 were submitted to the ISO/IEC 17025 accredited ALS lab in Reno Nevada for analysis. Samples collected in 2024 and 2025 were submitted to the Standards Council of Canada ISO/IEC 17025:2017 accredited Bureau Veritas laboratory in Reno, Nevada for analysis. As a matter of procedure, a rigorous quality assurance and quality control program was implemented in the form of blanks and Certified Reference Material standards inserted at every 10th position in the sample series. The assay results of these standards and blanks have been within the acceptable ranges. Qualified Person The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., Vice President, Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario. About Romios Gold Resources Inc. Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the 'Golden Triangle' of British Columbia. Additional interests include the Kinkaid claims in Nevada covering numerous Au-Ag-Cu workings, and the Scossa mine property in Nevada which is a former high-grade gold producer. The Company retains an ongoing interest in several properties including a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ('Copperhead') whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Property in BC. For more information, visit As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online ( Twitter,Facebook,LinkedIn ) please feel free to send direct messages. To book a one-on-one 30-minute Zoom video call, please click here. For further information, please contact: Stephen Burega, CEO & President - 647-515-3734 or [email protected] John Biczok, P. Geo., VP Exploration - 613-410-7877 or [email protected] This News Release contains forward-looking statements which are typically preceded by, followed by or include the words 'believes', 'expects', 'anticipates', 'estimates', 'intends', 'plans' or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this view the source version of this press release, please visit
The Market Online
08-05-2025
- Business
- The Market Online
Blackrock Silver's new drilling supports resource upgrade
Blackrock Silver (TSXV:BRC) released its latest high-grade silver and gold intercepts from its Tonopah West project in Nevada Highlights include 4.24 metres grading 700 grams per ton silver equivalent in TXC25-138, which yielded multiple over 1 kg/ton silver intercepts Blackrock Silver is a junior miner developing demonstrated gold and silver ounces in the ground along Nevada's Walker Lane trend and Northern Nevada rift Blackrock Silver stock has given back 10.29 per cent year-over-year but remains up by 45.24 per cent since 2020 Blackrock Silver (TSXV:BRC) released its latest high-grade silver and gold intercepts from its Tonopah West project in Nevada, where a 2024 resource estimate details 577,000 ounces of gold and 48.5 million ounces of silver. The results are part of a 62-hole program started in July 2024 that aims to convert up to 1 million tons of material from inferred to measured and indicated resources, covering the initial years of production based on Tonopah's 2024 preliminary economic assessment. Here are highlight assay intercepts using a 150 grams per ton (g/t) silver equivalent (AgEq) cut-off: (Source: Blackrock Silver) According to Thursday's news release, 'the highest-grade results are associated with thicker intercepts of quartz vein material,' aligning with previous drilling under the M&I Conversion Program released in November, January and February, making management optimistic about Tonopah West's updated resource estimate slated for Q3 2025. Gold and silver mineralization features shoots plunging to the northwest within the M&I Conversion Area that remain open to the northwest, east and down plunge. Ten drillholes have assays pending. Investors can also look out for seven additional drillhole assays from Blackrock Silver's exploration program seeking to expand a 1-kilometre trend of vein corridor linking Tonopah West's Northwest step-out resource area with the Denver-Paymaster and Bermuda-Merten vein groups. Leadership insights 'Additional results from our M&I conversion program continue to validate our model, supporting mineral continuity as we track and define the geometry of the high-grade shoots within the vein system,' Andrew Pollard, Blackrock Silver's president and chief executive officer, said in a statement. 'Today's results, coupled with results previously announced from this same program, highlight that broader intercepts are associated with higher-than-average grades, which should be beneficial in delineating high-grade tons. The broad zones of high-grade mineralization encountered in drillhole TXC-138 are a standout for us, as at a composite of 11.46 metres of 514 g/t silver equivalent (290 g/t silver & 2.48 g/t gold), this is the thickest (composite) zone we've drilled throughout the district outside of the historic Victor mine. As we await the final assays from the M&I conversion program, modelling has begun for our upcoming mineral resource update on Tonopah West, currently on track for Q3 2025.' About Blackrock Silver Blackrock Silver is a junior miner developing demonstrated gold and silver ounces in the ground along Nevada's Walker Lane trend and Northern Nevada rift. Blackrock Silver stock (TSXV:BRC) last traded at C$0.30. The stock has given back 10.29 per cent year-over-year but remains up by 45.24 per cent since 2020. Join the discussion: Find out what everybody's saying about this junior gold and silver stock on the Blackrock Silver Corp. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
26-03-2025
- Business
- Yahoo
Walker Lane Resources Ltd. Options Three Properties in the Walker Lane Gold Trend in Nevada from Silver Range Resources Ltd.
VANCOUVER, British Columbia, March 26, 2025 (GLOBE NEWSWIRE) -- Walker Lane Resources Ltd. (TSX-V: WLR, 'Walker Lane') announces that it has optioned three properties (i.e., Tule Canyon, Cambridge and Silver Mountain – see location map Figure 1) located in the Walker Lane of western Nevada and a right-of-first refusal on the Shamrock Property in eastern Nevada from Silver Range Resources Ltd. ('Silver Range') (TSX-V:SNG). The original property agreements were signed with the CMC Metals Ltd. now operating as Walker Lane Resources Ltd. and trading under the symbol 'WLR' on the TSX Venture Exchange. Walker Lane has established a solid position in the Walker Lane Gold Trend Area which has a rich history of mining and exploration and remains vastly underexposed to modern exploration methods, offering substantial upside potential. The Walker Lane area is host to notable precious metal deposits such as the Comstock Lode, Round Mountain (Kinross), Silicon and Merlin (AngloGold Ashanti), Mesquite and Castle (Equinox Gold) and many other significant deposits. This popular and emerging district offers junior exploration companies exploration targets at manageable costs. These targets are also attractive in that they are associated with high-grade gold, silver and base metal mineralization, have nearby excellent infrastructure, considerable road accessibility, a local, qualified and competent labor force, a diverse range of supply companies, and are located within one of the best permitting and policy regimes in the world. The 2023 Fraser Institute Mining Industry Survey ranked Nevada second in the world in terms of investment attractiveness index. Kevin Brewer, President and CEO of Walker Lane noted: 'This package of properties in Nevada, provides us with excellent exposure to the emerging Walker Lane area. In particular, Tule Canyon provides us with a second drill ready property in our diverse property portfolio. We intend to commence drilling at Tule Canyon in Q3-Q4, 2025. Cambridge and Silver Mountain also have considerable exploration prospectivity. All of these properties hold the potential to generate advanced stage exploration projects in the near term. These acquisitions also serve to fulfill a long-standing objective of our Board - - to acquire properties that enable us to conduct exploration activities year-round which will result in a vastly improved flow of exploration activity and results. We are very pleased to be working closely with Mr. Mike Power of Paladin Geosciences Corp. (and who is also the President and CEO of Silver Range) who has a considerable understanding of the geology and mineralization styles in Nevada and will be actively involved in our project undertakings.'The Tule Canyon Property lies 95 km south of Tonopah and 80 km northwest of Beatty in Esmeralda County, near the Nevada-California border. Tule Canyon has: Four defined drill targets mapped beneath high grade gold and silver showings; A 5 kilometer-long structural corridor of mesothermal high grade gold and silver mineralization associated on a boundary of an aeromagnetic anomaly with an inflection that may reflect deeper basement mineralization controls; Two former mines (Dark Secret and Eastside) and numerous old workings; Widespread gold and silver mineralization hosted in numerous quartz veins with mesothermal textures. Precious metals are associated with hematite, pyrite, yellow plumbo-jarosite or similar lead oxides, rare galena and copper oxides; Surface grab samples have produced up to 31.8 g/t gold and 4,320 g/t silver and chip samples from hand dug trenches of 40 meters @ 0.469 g/t gold including 20 meters @ 0.695 g/t gold; The western end of the aeromagnetic trend covers the Ingall's Vein and the China Doll zone which are silver-dominant showings with mineralization returning up to 4,320 g/t Ag and up to 31.8 g/t Au (see figures 2 and 3); and, The eastern end of the trend is gold-dominant (see figures 2 and 3) with assays up to 37.3 g/t Au at surface and 27.6 g/t Au underground. Despite the past history of mining and high-grade surface mineralization on the property, there is little evidence of modern exploration activity and no known drilling. Silver Range and WLR have executed a Letter of Intent ('LOI') granting WLR the option to acquire 100% of the Tule Canyon Property ('Tule Canyon'). WLR has a first option to acquire 80% of Tule Canyon by paying Silver Range an aggregate $480,000 over four years (all amounts in United States currency) and completing 1,500 meters of diamond drilling by March 8, 2028. A second option to acquire the remaining 20% of Tule Canyon may be exercised by WLR identifying a National Instrument 43-101 compliant measured or indicated resource at Tule Canyon (the 'Tule Resource') by the end of 2033. A milestone payment of $10 per ounce of gold (or the equivalent value in other commodities) as contained in the Tule Resource will be due to Silver Range within six months of the identification of the Tule Resource. Approximately 50% of all cash payment under both option stages may be made in WLR shares. Lastly, following the acquisition of a 100% interest in Tule Canyon by WLR, Silver Range will retain a 2.5% net smelter return ('NSR') in the property, which may be reduced to 1.0% by the payment of $500,000 per each 0.5% prior to the commencement of commercial production at Tule Cambridge Project is located 33 km south of Yerington in Lyon County, NV and is road accessible. Cambridge comprises of: High-grade gold, shear-hosted mesothermal veins hosted in north-trending, steeply-dipping faults or shears up to 1,500 meters in strike length that cut a Cretaceous quartz monzonite; The veins contain coarse grained, ribbon banded white quartz together with visible gold, pyrite, galena, pyrrhotite, chalcopyrite, lesser tetrahedrite and amorphous black sulphides in disseminations and clots; Three known gold zones – the Cambridge Mine, Price Lode and North Trends – which have an aggregate strike length of approximately 2.7 kilometers; Initial geochemical surveys have resulted in 29% of 68 grab rock samples grading in excess of 5 g/t gold with highest assay of 93.8 g/t gold (see Figure 4), trench results up to 3.2 m @ 14.65 g/t gold, and silver from trace to 274 g/t Ag is associated with the gold mineralization; Strong gold-in-soil anomalies that are coincident with the mineralization (see Figure 5); The former producing Cambridge Mine is noted for its visible gold, that has also been recently recovered from waste dumps. Mineralization in the historic workings at the Cambridge Mine has been traced to a depth 137 meters (450 feet); and, Numerous other historic workings throughout the property. It is expected that with a minimal amount of modern exploration work this project can be elevated to drill-ready stage in 2025. Silver Range, Auburn Gold Mining LLC ('Auburn') and WLR have executed a LOI granting CMC the option to acquire 100% of the Cambridge Property ('Cambridge'). WLR has a first option to acquire 75% of Cambridge for total consideration of $460,000 over four years, incurring $1,500,000 in exploration expenditures and completing 1,500 meters of diamond drilling on the property. A second option to acquire the remaining 25% of the property can be exercised by WLR making an additional aggregate $75,000 to Silver Range and Auburn and by identifying a National Instrument 43-101 compliant measured or indicated resource at Cambridge (the 'Cambridge Resource') by the end of 2033. Up to 48% of all cash payments under both option stages may be paid in WLR shares. Following the exercise of the second option, a milestone payment of $10 per ounce of gold (or the equivalent value in other commodities) as contained in the Cambridge Resource will be due to Silver Range and Auburn within six months of the identification of the Cambridge Resources. In addition, Silver Range and Auburn will retain a combined 2.5% NSR on Cambridge, which may be reduced to 1.0% by the payment of $500,000 per each 0.5% prior to the commencement of commercial production at Silver Mountain Property is located in Esmeralda County, approximately 57 kilometers south of Goldfield, near the Nevada-California border. Silver Mountain Deep epithermal to mesothermal-type oxidized quartz veins with high-grade silver mineralization; and Two showings including (i) Hidden Gulch with potential for high-grade narrow vein mining; and, (ii) Old Cabin which is a potential bulk-tonnage silver target (see Photos a-c); At Hidden Gulch, underground chip sampling has returned up to 0.6 meters @ 1,415 g/t silver and 0.48% copper from a sample across the face of a drift in the Silver Bowl Mine, the most significant workings along the principal structure. On surface, chip sampling returned up to 0.4 meters @ 1,245 g/t Ag from a vein exposed in a pit near the southern end of the principal structure. High-grade silver mineralization occurs in a steeply west-dipping normal fault within a structural corridor identified to data as being up to 370 meters in length. West of this principal fault structure, at least one east-dipping antithetic fault parallels the main fault in the hanging wall of the Silver Bowl Mine. Sampling across one of these antithetic veins returned 0.65 meters @ 546 g/t silver Previously reported grab sampling along this structure also returned assays up to 3,270 g/t silver; and, The Old Cabin Showing is located a mile to the southwest of Hidden Gulch and hosts mineralization in an unusual sequence of numerous stacked, tabular extensional quartz veins, exposed over more than 30 meters up a ridge. Grab samples from this zone have returned assays up to 394 g/t silver. Silver Range and CMC have executed a LOI granting WLR the option to acquire 100% of the Silver Mountain Property ('Silver Mountain') for total consideration of $200,000, payable in installments of $5,000 per year until 2034 with a final payment of $150,000 by August 1, 2035. Up to half of the final payment may be made in WLR shares. In addition, WLR would be required to complete 1,000 meters of drilling during the term of the option. A milestone payment of $10 per ounce of gold (or the equivalent value in other commodities) will be due to Silver Range within six months of the identification of a National Instrument 43-101 compliant measured or indicated resource at Silver Mountain. In addition, Silver Range will retain a 2.5% NSR on the property, which may be reduced to 1.0% by payment of $500,000 per each 0.5% prior to the commencement of production at Silver Shamrock property is located 45 kilometers east-southeast of Ely, in White Pine County, eastern Nevada in the Sacramento Mining District. The property comprises of: Gold-rich carbonate replacement deposit ('CRD') mineralization in discordant veins and breccias occur in an 800 meter (north-south) by 300 meter (east-west) area and are hosted in Cambrian aged limestone, quartzite and phyllite units; The Gilded Age Mine and the Woodman Mine where gold and silver mineralization wad discovered and produced in the mid to late 1800's. Combined production from the two mines was the 9th largest in Nevada; Numerous vintage workings on the property including adits, shafts and stopes reaching surface where grab samples from dumps have assayed up to 233 g/t gold, 1,520 g/t silver and 4.04% copper. Silver Range and WLR have executed an agreement whereby WLR is granted a right of first refusal ('ROFR') to any future sale, option, or other disposition of all or a partial interest in the Shamrock Property at any time prior to October 1, 2025. If Silver Range receives an offer for the Shamrock property up to October 1, 2025, WLR will have 30 days from the offer date, by another party or person, to notify Silver Range in writing that it desires to accept the offer or otherwise terminate the Lane Resources Ltd. has optioned three highly prospective gold and silver projects in the Walker Lane Area. Our company intends to aggressively pursue exploration of these properties in 2025 which is expected to include an initial drill program at Tule Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon and Newfoundland and Labrador. The Company intends to initiate an aggressive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver, B.C.) projects through an aggressive drilling program to resource definition stage in the near future. On behalf of the Board: Kevin Brewer, President, CEO and DirectorWalker Lane Resources Ltd. For Further Information and Investor Inquiries: Kevin Brewer, P. Geo., MBA, (Hons), Dip. Mine CEO and Director Tel: (709) 327 8013 kbrewer80@ Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2 Cautionary and Forward Looking Statements This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words 'anticipate', 'plans', 'continue', 'estimate', 'expect', 'may', 'will', 'project', 'predict', 'potential', 'should', 'believe' 'targeted', 'can', 'anticipates', 'intends', 'likely', 'should', 'could' or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. 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 statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon and the Bridal Veil property in Newfoundland and Labrador all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX:CDE). These forward-looking statements reflect the Company's current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company's properties is reliable; the Company's operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company's properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company's current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate. Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company's public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company's control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company. The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes 'future-oriented financial information' or 'financial outlooks' within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses. The Company's financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company's accountants or auditors. The Company's financial projections represent management's estimates as of the dates indicated thereon. Figure 1: Project Locations in NevadaFigure 2: Positive Gold Results in Preliminary Rock Sampling – Tule Canyon Figure 3: Positive Silver Results from Preliminary Rock Sampling – Tule Canyon Figure 4: Gold in Preliminary Rock Sampling – Cambridge Property. Figure 5: Gold in Preliminary Soil Sampling – Cambridge Property. Note: in both soil and rock sampling encouraging results are coincident in a majority of cases with historical workings and the former Cambridge Mine. Figure 6: Silver Mountain Property, Walker Lane Area Gulch showing with historic workings indicated by arrows. Stacked, planar veins in a working at the Old Cabin showing, indicated by orange lines. Extensional vein detail – Old Cabin Showing. Mineralized quartz grades > 100 g/t silver. Photos accompanying this announcement are available at
Yahoo
03-03-2025
- Business
- Yahoo
TSX Opens Higher Ahead of Economic Data
Canada's main stock index opened higher on Monday, as investors assessed the impact of the U.S. President's proposed tariffs and braced for a wave of upcoming economic data. The TSX Composite Index gained 43.85 points, to open the week and month at 25,437.30. The Canadian dollar recovered 0.2 at 69.41 cents U.S. As the clock ticked towards the deadline for U.S. President Donald Trump's tariffs on Canada, Mexico and China, U.S. Commerce Secretary Howard Lutnick confirmed the tariffs on Canada and Mexico were slated to take effect on Tuesday. However, President Trump will decide whether to maintain the proposed 25% tariff rate, leaving investors anxious. The S&P Global Canada Manufacturing PMI fell to 47.8 in February from 51.6 in the previous month, contrasting sharply with market expectations of 51.9 to mark the first decline in factory activity since August of last year. ON BAYSTREET The TSX Venture Exchange lost 3.02 points to start Monday at 611.62. All but two of the 12 TSX subgroups were pointed upward, with gold shining 1.5% brighter, telecoms up 1.2%, and materials up 0.9%. The two laggards proved to be energy, down 0.9%, and information technology, retreating 0.7%. ON WALLSTREET The S&P 500 slid on Monday, extending February's rout as a deadline on President Donald Trump's tariff policies this week ratcheted up economic concerns. The Dow Jones Industrials gained 23.41 points, to 43,869.05 The much-broader index fell 2.73 points to 5,951.77 Read: StrikePoint Gold gains momentum in Nevada's renowned Walker Lane World Cancer Day Sparks Big Questions About Pollution, Genetics, and Innovation Miner combines cash-flowing production with potential exploration growth in Mexico Healthcare AI Market to Surge 43% Annually—Key Stocks to Watch Optimism in War on Cancer on the Rise, as Biotech Companies Roll Out More Wins The NASDAQ Composite lost 40.47 points to 18,806.80. Monday marks the start of a new trading month after the three major indexes notched losses for February. The Dow and S&P 500 each slipped more than 1%, while the tech-heavy Nasdaq Composite recorded its worst month since April 2024 with a drop of 4%. Soft economic data for the manufacturing and construction sectors released Monday offered the latest reasons for worry about the state of the U.S. economy. Those releases kick off a big week for economic data, with the February jobs report slated for Friday. The rocky start to the new trading month comes as Trump's plans to impose import duties on key U.S. trading partners this week loom over the stock market. These policy proposals have rattled investors and stirred up market volatility recently as traders worry that they will reignite inflation. Commerce Secretary Howard Lutnick said Sunday on Fox News that the exact tariff that will be levied against Mexico and Canada starting Tuesday is still 'fluid,' which means it could be lower than the proposed 25%. He added that the additional 10% duty on China imports is 'set.' Treasury Secretary Scott Bessent said on CBS that Mexico has offered to match the U.S. tariffs on China, potentially as a way to get out of the tariffs set to be imposed against them on Tuesday. Elsewhere, cryptocurrencies rallied after Trump announced the creation of a strategic crypto reserve for the U.S. that will include bitcoin and ether. Bitcoin briefly jumped 10% to nearly $94,000 after dipping to a three-month low under $80,000 on Friday. Shares of crypto exchange stocks including Coinbase, Robinhood and MicroStrategy rose. Prices for the 10-year Treasury popped, lowering yields to 4.20%, compared to Friday's 4.21%. Treasury prices and yields move in opposite directions. Oil prices slid 23 cents to $69.53 U.S. a barrel. Prices for gold strengthened $49.00 an ounce to $2,864.90 U.S. Sign in to access your portfolio
