Latest news with #mineralization
Globe and Mail
13 hours ago
- Business
- Globe and Mail
Metals Creek Returns 1.52% Cu and 8.48 g/t Ag over 28.8m at the Tillex Copper Project
Thunder Bay, Ontario--(Newsfile Corp. - June 5, 2025) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or "Metals Creek") is pleased to announce additional drill results from the recently completed (See News Release: March 20, 2025) diamond drilling program at the Tillex Copper Project located in Currie Township, 65 km east of Timmins, Ontario and approximately 45 km from the Kidd Creek Met site. This program entailed seven diamond drill holes totaling 909.5 meters (m) in an effort to extend copper mineralization to the north, further define areas of limited to no drilling as well as follow-up on copper mineralization drilled outside the mineralized envelope in the previous drill campaign (See news release February 27, 2025). TX25-032 was designed to test near surface mineralization as well as the continuity of mineralized feldspar porphyry in an area in which historic drilling did not sample portions of holes due to the very fine grained nature of the copper mineralization, including mineralized feldspar porphyry which contains trace to 3 percent (%) chalcopyrite. This hole collared in mineralized graphitic argillite and returned a down hole intercept of 28.8m (40.5-69.3m) of 1.52% Cu and 8.48g/t Ag. Included in this intersection is a higher grade interval of 2.61% Cu and 14.92g/t Ag over 13.27m (54.03 to 67.3m). Mineralization consists primarily of locally, very fine, pervasive disseminated chalcopyrite, cross-cutting chalcopyrite stringers as well as blebby chalcopyrite. Disseminated pyrite is also present within locally and strongly folded clay altered graphitic argillites. Mineralization within the feldspar porphyry included disseminated to blebby chalcopyrite as well as abundant quartz stringers which also contains minor chalcopyrite. Mineralization within the feldspar porphyry appears to be much more consistent than initially thought historically, especially near the contacts with the altered graphitic argillites. Figure 1: Schematic Cross Section 135N, TX25-032 To view an enhanced version of this graphic, please visit: Note: True widths are approximately 70-80% of downhole intercept Additional assays will be released once they have been received and compiled. Michael MacIsaac, and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release. All samples were sent to Activation Laboratories. Samples utilized aqua regia digestion with analysis performed by ICP. Over limits were performed by ICP-OES. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. About Metals Creek Resources Corp. Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). Metals Creek also has multiple quality projects available for option which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below. Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at 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.
Associated Press
3 days ago
- Business
- Associated Press
Wolfden Releases Positive Deep Survey Results at Rockland in Nevada
TORONTO, ON / ACCESS Newswire / June 3, 2025 / Wolfden Resources Corporation (WLF.V) ('Wolfden"or the"Company')is pleased to release positive results from a recent deep penetrating induced polarization (IP) geophysical survey from its Rockland Gold Project located in the Walker Lane Trend of Nevada, USA. The survey was designed to test for anomalous chargeability just below historical drill results that ended in mineralization with 146.4 metres at 1.0 g/t AuEq* in hole PG-32 and hole PG-36C drilling in the opposing direction 70 metres away with 85.4 metres at 1.0 g/t AuEq* (see Figures 3 to 5). Importantly, these holes both include intervals of higher grades and alteration that increases in intensity with depth, both indicative of a potential higher grade system at depth. A 3D inversion model of the IP survey results indicates a stronger chargeability anomaly below the altered rhyolite-hosted lower grade gold mineralization closer to surface. In addition, the anomaly is coincident with a northeast-trending structural corridor that is interpreted to extend at least 1.7 km (1.1 miles) below other positive gold bearing drill hole results and altered rhyolite domes. The Company believes that the chargeability anomaly indicates an increase in disseminated pyrite from hydrothermal-alteration, which correlates well with the gold mineralization observed along the trend. Banded quartz veins and quartz-enriched zones within the pyrite-alteration of the historic drill holes have returned elevated gold values. The Company is targeting just below the historic drilling where potential boiling occurred in the hydrothermal system that could lead to increased pyrite mineralization and higher grades. The IP survey and the previous CSAMT survey have now clearly defined similar sizable corridors that warrant testing at depth. The Company plans to commence a drill program in July to test these targets. The 1,800 metre drill program is permitted and funding is available from the Company's recent US$1.5M land sale in Maine pending final approvals from the TSXV that is expected in the coming weeks. An analogous target model is AngloGold's major new Silicon-Merlin discovery located in the Beatty Mining District further to the southeast along the Walker Lane trend, which hosts Indicated-level mineral resources of 121 mT for 3.4 million ounces of gold and Inferred mineral resources of 391 mT for 12.9 million ounces of gold1. 'The Rockland East target in our opinion represents one of the most exciting drill ready exploration targets in the Walker Lane Trend as it consists of 1) potential large gold system with material as supported by gold intercepts in two opposing holes 70 metres apart, that both returned 1.0 g/t AuEq* over 85.4 metres and 146.4 metres, the latter ending in gold mineralization, 2) new deep IP results suggesting that hydrothermal fluids upwelled and ponded, creating wide, lower grade gold mineralization that could flank a pyrite-rich, higher-grade gold vein system at depth, 3) an historic high grade Au-Ag vein mine which is part of the property package further to the west of the survey area shows that high grade gold zones occur on the property and, 4) multi-square kilometre scale, argillic to advanced argillic, rhyolite and basin-margin-debris-hosted alteration zones that are cut by quartz veins enriched in antimony, arsenic and gold,' stated Don Dudek, Senior Exploration Advisor for Wolfden. 'These are the typical characteristics exhibited by some of the high quality gold deposits in the Walker Lane Trend.' As per the terms of the earn-in agreement with Evergold Corp. (EVER.V) and the underlying claim owner ('Owner'), who are both at arm's length, Wolfden must complete US$1.175 million in exploration expenditures, including a minimum of 5,000 feet (~1,500 m) of drilling in 2025, and make cash payments of up to US$600,000 over a period of three years to earn a 51% interest in the property by March 2028. The first cash payment of US$100,000 was paid in March, 2025. Upon completion of these terms, Evergold will have earned a 100% interest in the property from the Owner less a 3% NSR of which 2% can be repurchased for US$3 million and the property title will transfer from the Owner to Wolfden. At such time, Wolfden may elect to 1) continue to earn a 75% joint venture interest in the Project by funding up to the completion a Pre-feasibility Study within 5 to 8 years or 2) elect to continue as the operator of a joint venture with its initial 51% interest. In either scenario, if Evergold is ever diluted to a 20% interest or less, it will convert its interest to a 2% NSR where Wolfden can repurchase 1.5% from Evergold for C$2.25 million. Under either election, all NSR buyback rights and first rights of refusal to purchase all interests and NSR's shall apply and be held by Wolfden and or the joint venture. The earn-in agreement was announced on October 29, 2024 and is considered a fundamental acquisition for the Company, as defined in Policy 5.3, and as such is subject to certain conditions having been met under Section 5.7 of Policy 5.3, including the review by the TSX Venture Exchange of a technical report prepared in compliance with National Instrument 43-101 (Standards of Mineral Disclosure) that was submitted in May. Technical Details The IP survey was carried out in April, 2025. It was designed to penetrate to 400 metres below the surface which is well beyond the previous IP survey and below hole PG-32 that ended in gold-bearing disseminated pyrite mineralization, but still above where both the boiling zone of the hydrothermal system, where higher gold grades are interpreted to occur. This new IP survey was expanded from the previously surveyed area to investigate newly interpreted disseminated sulphide zones and provide insight into the relationship between increased chargeability and coincident CSAMT anomalies (controlled source audio magnetic telluric). The IP survey indicates that there is a 1.7 km long ridge of higher chargeability that is related to the area where historic drill holes returned gold values (Figures 2 and 3). A CSAMT, resistivity high correlates with at least 50% of the IP trend as does the IP resistivity, which also correlates with the chargeability. The resistivity highs are interpreted to be related to silicification which appears be related to gold mineralization. Figure 3, also shows proposed drill holes with one hole to test down dip of the intercept in Hole PG-32 and another hole, if warranted, to cover the rest of coincident chargeability and resistivity trends. Figures 3 to 5, also presents an intercept in hole PG-36C of 1.0 g/t AuEq over 85.4 metres. This intercept, and the one in PG-32, are 70 metres apart at their closest point, which suggests that there is a decent volume potential of ~ 1 g/t AuEq mineralization, and that may also extend further to surface. The IP survey also picked up a new, 1.2 km, northeast-trending chargeability anomaly in the northwest part of the survey area (Figure 2). Approximately 50% of the anomaly (west half) correlates with a weak resistivity high. In addition, 34 grab samples, collected down-slope of the IP anomaly, returned from 0.24 to 30.3 g/t Au and until this survey was completed, a possible source of these mineralized boulders had not been located. It is evident that that a nearby hole would have missed testing the chargeability anomaly. This target cannot not be tested in the current program as a new work permit is required. A third weaker chargeability anomaly occurs just south of the above anomaly (Figure 2). This area is one of the priority targets as it is testing a new target area along a northerly trending CSAMT anomaly, a strong interpreted structure, a structural splay feature and highly anomalous arsenic, antimony and silver, in nearby holes. The high chargeability in the northeast part of the survey grid is likely related to the combined effect of conductive sediments and the altered volcanics with the sediment response overwhelming the chargeability response of the altered rhyolites. Strongly altered rhyolites have been mapped to the 2nd line to the northeast; however metal chemistry indicates that these altered rhyolites are more distal from the core of a mineralized system than the rocks to the west of this area. QA/QC Comment All grades over drilled length were calculated from a validated drill database that includes work from several different companies. Holes 13 to 27 were completed in 1995 by a well-known international company and although there is no QA/QC documentation available, it is assumed that the work and the laboratory used would have been of good industry standards and practices. Holes 30 to 38C were drilled in 2006 and 2007 with a complete QA/QC program that included reverse circulation samples of 9 kilograms on average, collected at five-foot intervals from a wet splitter. Occasional duplicate samples were taken in the same way. Control samples including standard pulps and crushed marble blanks were inserted into the sample sequence about one every 10 samples. The samples were prepared and fire assayed for gold and multi-element analysis by ALS Chemex at their laboratory in Sparks, Nevada. All drill core was HQ in size, photographed, logged, including RQD measurements and recovery, prior to sampling. Sample intervals were typically chosen to follow actual core block/run intervals to a maximum of five feet of sample. Control samples including standard pulps and crushed marble blanks were inserted randomly in the sample number sequence to check and verify lab accuracy. The control samples were inserted at least one every tenth sample and more frequently in well mineralized zones. The grab samples were collected by at least four different exploration teams, including those that had completed the drilling. It is believed that the prospecting grab sample data noted in this release, accurately reflect the gold content of the rocks, especially since different groups returned anomalous assays from the same area and that at least one of the groups, had an active, documented drill sample QAQC program in 2006 and 2007. About Wolfden Wolfden is a North American exploration and development company focused on high-margin metallic mineral deposits including precious, base, and critical metals. It has two nickel sulphide deposits in Manitoba and one of the highest-grade polymetallic projects in the USA (Zn, Pb, Cu, Ag, Au) that represent significant development projects with the potential to produce domestic supply of strategic metals. For further information please contact Ron Little, President & CEO at (807) 624-1136. The information in this news release has been reviewed and approved by Ron Little, President and CEO, who is a Qualified Persons under National Instrument 43-101. * True widths unknown. Calculation of AuEq uses gold price of US$2000/oz and silver price of US$25/oz. The gold to silver ratio is approximately 9:1. 1 Silicon/Merlin discovery - meant only as a target comparison and not to imply that future work at Rockland will return similar results Cautionary Statement Regarding Forward-Looking Information This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events, including the potential for projects to be domestic sources of ethically produced base and critical metals for the expansion of renewable energy in North America. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, metal price assumptions, cash flow forecasts, permitting, land transactions, community and other regulatory approvals, and the timing and completion of exploration programs in the USA, Manitoba, New Brunswick and the respective drill results. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties: (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties; (iv) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless 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. Figure 1. Rockland Property Location Map Figure 2. Rockland Chargeability Plan Map at a vertical depth of 200 m below surface including gold-bearing surface grab samples Figure 3. Rockland Chargeability Cross Section A-A' including hole PG-32 that stopped short of the new target Figure 4. Rockland Resistivity Cross Section A-A' including hole PG-32 Figure 5. Rockland CSAMT Survey Section A-A' including hole PG-32 SOURCE: Wolfden Resources Corp. press release
National Post
4 days ago
- Business
- National Post
Spanish Mountain Gold Intercepts Extensive Near Surface Gold Mineralization at the Phoenix Target
Article content VANCOUVER, British Columbia — Spanish Mountain Gold Ltd. (the ' Company ' or ' Spanish Mountain Gold ') (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) confirms extensive, near surface gold mineralization intersected with overall approximate length, width and vertical depth of 1,450 m x 450 m x 60-320 m at the Phoenix Target, which is part of the Spanish Mountain Gold project, located in the Cariboo Gold Corridor, British Columbia, Canada. The Phoenix Target remains open in all directions. The 10,000 m 2025 winter diamond drilling program (the 'Program') has been completed with a total of 31 holes, including 14 holes drilled on the Phoenix Target. While some assays from the Program are still pending the Company now has the results for all the holes drilled on the Phoenix Target. Article content Article content Highlights: Article content Confirmed Extensive, near surface gold mineralization containing high grade intercepts in a potentially new geological setting – Phoenix Target (See Figures 1, 2, and Table 1): Article content Hole 25-CCR-062 intersected 62.00 m grading 1.47 g/t Au from 227.00 m including 4.00 m grading 17.28 g/t Au Hole 25-CCR-053 intersected 188.20 m grading 0.31 g/t Au from 63.00 m including 62.00 m grading 0.48 g/t Au. Also 74.00 m grading 0.29 g/t Au from 274.00 m including 0.85 m grading 6.55 g/t Au Hole 25-CCR-056 intersected 153.64 m grading 0.37 g/t Au from 42.36 m including 116.00 m grading 0.40 g/t Au from 80.00 m and 13.12 m grading 1.27 g/t Au Hole 25-CCR-057 intersected 58.56 m grading 0.42 g/t Au from 125.00 m including 7.80 m grading 1.31 g/t Au and 4.80 m grading 1.55 g/t Au Hole 25-CCR-058 intersected 57.00 m grading 0.41 g/t Au from 109.00 m including 20.00 m grading 0.58 g/t Au and 1.30 m grading 4.85 g/t Au Hole 25-CCR-059 intersected 37.60 m grading 0.43 g/t Au from 257.90 m including 1.01 m grading 3.20 g/t Au and 1.50 m grading 1.26 g/t Au Hole 25-CCR-060 intersected 68.00 m grading 0.24 g/t Au from 93.90 m including 2.00 m grading 2.50 g/t Au. Also 40.40 m grading 0.60 g/t Au from 197.15 m including 10.00 m grading 1.29 g/t Au Article content Drilling results continue to confirm the expansion of gold mineralization along the Phoenix Target over a strike length exceeding 1.4-kilometers, 450 m wide and with a consistent mineralization zone(s) with an estimated vertical depth ranging from approximately 60 – 320 meters. Containing broad intercepts of mineralization consistently grading 0.40 g/t Au and higher-grade intervals ranging from 1.0 to greater than 20.0 g/t Au substantially increases the potential for a significant addition to the Spanish Mountain Gold project's resource base. The Company has engaged Equity Exploration to establish a maiden resource estimate on the Phoenix Target (the ' Phoenix MRE ') anticipated to be completed in the second quarter of 2025. The Phoenix MRE will be included in the upcoming Preliminary Economic Assessment technical report for the Spanish Mountain Gold project expected to be released in the second quarter of 2025 (the ' Updated PEA '). Due to the expected timing of the Phoenix MRE, it is not anticipated that the Phoenix Target will be included in the economic analysis contained in the Updated PEA. Article content Peter Mah, Spanish Mountain Gold's President, CEO and Director commented, 'The recent drill success near surface at Phoenix further demonstrates the potential to expand the gold resource base and for value creation upside at the Spanish Mountain Gold project. The awakening Phoenix Target, dormant since 2011, is located 1.4 kilometers west of our main deposit. Phoenix is intriguing our team in what appears to be an emerging new geological host setting for gold that remains open in all directions and present in other nearby areas such as the K Zone and Outcropping Tuff targets.' Article content Phoenix Target Details: Article content Drill holes 25-CCR-052 to 25-CCR-062, were drilled to follow up on the large target discovered in 2011 (refer to press release dated December 7, 2011, 'Spanish Mountain Gold Announces Discovery of New Gold Zone') and recently expanded upon in our April 24, 2025, release 'Spanish Mountain Gold Reports Initial Drill Results Multiple Near Surface and High-grade Intercepts 2025 Winter Exploration Program.' Article content The results from these new holes continue to demonstrate the expanding footprint of gold mineralization in the Phoenix Target area, with consistent grades over significant widths. Article content Table 1: 2025 Winter Drill Program – Summarized Gold Assay Results Drillhole ID From To Width(m) Gold Grade (g/t Au) 25-CCR-052 44.00 63.00 19.00 0.36 including 44.00 46.00 2.00 1.98 25-CCR-053 63.00 251.20 188.20 0.31 including 63.00 125.00 62.00 0.48 including 69.30 98.00 28.70 0.73 25-CCR-053 274.00 348.00 74.00 0.29 including 274.00 290.00 16.00 0.68 including 274.00 274.85 0.85 6.55 including 340.00 343.75 3.75 1.06 25-CCR-056 42.36 196.00 153.64 0.37 including 80.00 196.00 116.00 0.40 including 115.00 131.00 16.00 0.50 including 153.90 168.00 14.10 0.66 including 182.88 196.00 13.12 1.27 including 185.00 188.00 3.00 3.59 25-CCR-057 125.00 183.56 58.56 0.42 including 138.20 146.00 7.80 1.31 including 138.20 143.00 4.80 1.55 25-CCR-057 194.23 196.00 1.77 0.34 25-CCR-057 207.89 215.90 8.01 0.42 25-CCR-057 276.00 279.65 3.65 0.43 25-CCR-058 109.00 166.00 57.00 0.41 25-CCR-058 124.70 170.00 45.30 0.49 including 124.70 126.00 1.30 4.85 including 146.00 166.00 20.00 0.58 including 160.18 166.00 5.82 1.01 25-CCR-059 257.90 295.50 37.60 0.43 including 270.75 271.76 1.01 3.20 including 291.00 292.50 1.50 1.26 25-CCR-060 93.90 161.90 68.00 0.24 including 93.90 95.00 1.10 1.16 including 159.00 161.00 2.00 2.50 25-CCR-060 197.15 237.55 40.40 0.60 25-CCR-060 203.00 259.23 56.23 0.47 including 203.00 213.00 10.00 1.29 including 230.00 234.00 4.00 2.24 25-CCR-061 62.00 137.00 75.00 0.21 including 127.79 130.00 2.21 1.14 25-CCR-061 161.00 196.00 35.00 0.32 including 193.29 196.00 2.71 2.31 25-CCR-061 204.00 206.00 2.00 0.49 25-CCR-062 122.00 161.00 39.00 0.23 including 143.00 147.73 4.73 0.82 25-CCR-062 227.00 289.00 62.00 1.47 including 227.00 229.00 2.00 2.19 including 283.00 287.00 4.00 17.28 including 285.00 287.00 2.00 23.03 Article content Notes: 1) Reported intersections are calculated using a 0.15 g/t Au cut-off grade. 2) The complete assay table is available on the Company's website. 3) The true thickness of mineralization is unknown. 4) Results from 10 of 11 drilled holes. One hole was abandoned due to hole conditions during drilling. Article content Table 2: Drill Hole Collar Location, hole depths, and core size HOLE-ID LOCATION 'X' LOCATION 'Y' LOCATION 'Z' LENGTH Azimuth Dip Core size Easting Northing Elevation 25-CCR-052 602218 5827525 1016 63 120 65 HQ 25-CCR-053 602264 5827755 1032 348 120 65 NQ 25-CCR-054 602327 5827906 1051 70 120 65 NQ 25-CCR-056 602222 5827527 1016 324 120 80 HQ 25-CCR-057 601898 5828454 1026 294 120 65 HQ 25-CCR-058 602055 5828157 1032 230 120 65 HQ 25-CCR-059 601876 5828576 1022 345 120 65 HQ 25-CCR-060 601970 5828299 1030 287 120 65 HQ 25-CCR-061 602121 5828326 1039 299 120 65 HQ 25-CCR-062 602323 5827907 1049 294 120 80 HQ Article content Abbreviations: metres = m, grams per tonne = g/t, gold = Au Article content Drill Core Processing, Data Verification and Quality Assurance – Quality Control Program (QAQC) Article content Once received from the drill and processed, all drill core samples were sawn in half, labeled, and bagged. The remaining half of the drill core was securely stored on-site. Numbered security tags were applied to sample shipments to ensure chain of custody compliance. The Company inserts quality control (QC) samples at regular intervals, including blanks and reference materials, for all sample shipments to monitor laboratory performance. Standards and blanks account for a minimum of 15% of the samples in addition to the laboratory's internal quality assurance programs. The QAQC program was overseen by the Company's Qualified Person, Julian Manco, Director of Exploration (as described below). Article content Drill core samples were submitted to MSALABS' analytical facility in Prince George, British Columbia, for sample preparation and PhotonAssay TM analysis. The MSALABS facilities are accredited to the International Standards ISO/IEC 17025 and ISO 9001 standard for gold and multi-element assays, with all analytical methods incorporating quality control materials at defined frequencies and established data acceptance criteria. MSALABS Inc. is independent of the Company. Article content PhotonAssay TM Article content The PhotonAssay TM method utilizes gamma ray analysis for gold detection using the Chrysos PhotonAssay TM instrument (PA1408X). This non-destructive, fully automated technique offers high accuracy for analyzing ores and pulps. Sample preparation begins with drying and crushing up to 1 kg of material to achieve at least 70% passing through a 2-millimetre (mm) sieve. The sample is then riffle split to obtain a suitable aliquot for 2 testing cycles (MSALABS Method CPA-Au1). Article content The PhotonAssay TM instrument bombards 400 – 600 gram samples contained in sealed containers with gamma rays. These containers remain sealed throughout the process, preserving the sample for potential further testing. The analysis is performed robotically, with results that integrate into existing laboratory management systems. Article content Each sample is accompanied by a reference disc traceable to a Certified Reference Material (CRM). Both the sample and reference disc undergo gamma ray exposure, with signals detected and analyzed to ensure accurate and reliable results. Article content The method offers a gold detection range from 0.015 parts per million (ppm – lower limit) to 10,000 ppm (upper limit). Quality control includes the use of reference materials and blanks, with all results reviewed by a competent person before reporting. Article content Spanish Mountain Gold implemented two QAQC methodologies to validate the accuracy of PhotonAssay TM results, both demonstrating good comparability: 1) comparative analysis of diverse mineralization styles using Total Au screen metallic methods with both FAS-415 (gravimetric finish) and FAS-211 (AAS finish), and 2) comprehensive testing of both sample aliquots and rejects using FAS-211 (AAS finish). Article content QAQC Testing typically can include the following spot checks: 1) Pulverizing tests to evaluate variability in sample preparation, 2) Cross-analysis at external laboratories using screen metallic method, and 3) Four-cycle radiation testing to identify and calibrate potential variability in gold results with variable radiation intensity. Article content To effectively manage the nugget effect on high-grade gold samples MSALABS tested samples to 'extinction' (CPA-Au1E method). This approach divides samples into multiple splits, analyzes each separately using PhotonAssay TM, and then calculates a weighted average of the results. By testing various portions of the sample independently and combining their values proportionally, this method provides significantly more representative gold values than traditional single-split analysis for samples with a large nugget effect. Article content Multi-Elemental Analysis Article content For the 2025 drilling campaign Spanish Mountain Gold used IMS-230 method to provide multi-element determination using a four-acid digestion followed by ICP-OES and ICP-MS analysis. Article content Key Process Steps: Article content Sample Preparation: Samples are dried and ground to specific criteria (85% passing 75 microns (μm) for rocks and drill core; 180μm for soils and sediments). A homogeneous 10-gram sample is required. Article content Digestion: Samples undergo sequential digestion with nitric, perchloric, hydrofluoric, and hydrochloric acids, followed by dilution with deionized water. Article content Analysis: The solution is analyzed via ICP-OES and ICP-MS for multi-element quantification. Article content Quality Control: The process includes reference materials, blanks, and duplicates, with corrections for spectral interferences and thorough review before final reporting. Article content Julian Manco, has verified the data disclosed in this news release. The data verification process involved a multi-step approach to ensure accuracy and integrity. This included a detailed quality control (QC) analysis of the data, which was performed using both internal and external platforms, such as the MxDeposit™ software. These QC checks involved the analysis of certified reference materials (CRMs), blanks, and duplicates to confirm the reliability of the assay results. In addition, Mr. Manco conducted a field inspection of the specific drill intervals mentioned in this release to directly observe the geological features and verified the nature of the results presented. Article content Qualified Person Article content Julian Manco, Director of Exploration with Spanish Mountain Gold, is the Qualified Person as defined under National Instrument 43-101 who has reviewed and has approved the contents of this news release. Article content About Spanish Mountain Gold Ltd. Article content Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. We are conducting an integrated Whittle Enterprise Optimization to identify the highest potential value-add improvements while increasing the understanding of the high-grade geologic controls and associated drill targets that could upgrade and expand the gold resource. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on and on the Company's website: Article content On Behalf of the Board, Article content 'Peter Mah' President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. Article content 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. Article content Certain of the statements and information in this press release constitute 'forward-looking information'. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects', 'anticipates', 'believes', 'plans', 'estimates', 'intends', 'targets', 'goals', 'forecasts', 'objectives', 'potential' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information. 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Zawya
4 days ago
- Business
- Zawya
Development of cross-cut into new gold target underway in Zimbabwe
P ambili Natural Resources Corp. has commenced development of a cross-cut into the new gold target area previously identified by Hole EADD001 at GVM earlier this year. Assays of the core retrieved from Hole EADD001 identified an anomalous zone of sulphide mineralized brecciated chert returning 1.2 grams per tonne ('g/t') gold over an apparent width of 17.2 metres beneath the historic workings at GVM mine. Mineralization appears to remain open along strike and at depth. Pambili is developing the cross-cut from the recently developed sub-vertical shaft. The Company will extend a cross-cut southwards to the higher-grade lower contact (7m @ 2.00g/t Au including 2m @ 3.86g/t Au) as a priority and the lower-grade upper contact (2.19m @ 1.57g/t Au) as a secondary priority. Pambili will process the material recovered from the cross-cut through the existing on-site stamp mill at GVM. At current gold prices, processing grades as low as 0.5 g/t can be profitable. Once the mineralized zone is encountered, any ore will be processed through the GVM gravity recovered gold ('GRG') plant, which is currently being modified to facilitate the processing of larger quantities of ore. Jon Harris, Chief Executive Officer of Pambili Natural Resources, commented: 'Pambili is at a pivotal growth point, with the development of the cross-cut at GVM being key to establishing the potential scale of gold mineralization at GVM. Core from Hole EADD001 suggests mineralization continues down-dip from the historical workings and we are optimistic about the future potential of the the East Adit.' © Copyright The Zimbabwean. All rights reserved. Provided by SyndiGate Media Inc. (
Associated Press
28-05-2025
- Business
- Associated Press
First Majestic Announces Second Gold-Silver Discovery Within a Year at Santa Elena and Expands High-Grade Mineralization at Navidad
Santo Niño: A New Gold-Silver Discovery Confirmed 900 Metres South of the Santa Elena Plant. Navidad: Drilling Expands the Mineral Deposit Footprint and Returns Higher-Grade Gold and Silver. Vancouver, British Columbia--(Newsfile Corp. - May 28, 2025) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the 'Company' or 'First Majestic') is pleased to report a second significant discovery of vein-hosted gold and silver mineralization within a year at the Santa Elena property in Sonora, Mexico, and to share additional positive drilling results from the Navidad discovery. The near surface, newly identified Santo Niño vein, located approximately one kilometre south of the Santa Elena mine, marks a significant addition to the district. Resource addition and resource conversion drilling at the Navidad Discovery - completed after maiden Inferred Resource estimate declaration (see news release dated March 31, 2025 ) - substantially increased the size of the mineralized area and several holes returned higher than average grades for the deposit. With the additions of Navidad and Santo Niño, the Santa Elena property now hosts four significant gold-silver deposits: Santa Elena, Ermitaño, Navidad, and Santo Niño, underscoring the growing scale and potential of the district. 'The past twelve months of our exploration activities at Santa Elena have been outstanding,' stated Keith Neumeyer, President & CEO of First Majestic. 'The Santo Niño discovery marks yet another exciting milestone for the district, and the drilling shows the vein remains open for expansion in most directions. At the same time, step-out drilling at the Navidad Discovery continues to intercept exceptionally high-grade mineralization and expand the resource envelope. Together with the producing Santa Elena and Ermitaño mines, these new deposits confirm Santa Elena as a truly prolific district with tremendous untapped potential. We believe Santo Niño and Navidad will meaningfully extend the mine life and will unlock additional value to the portfolio.' EXPLORATION HIGHLIGHTS FOR SANTO NIÑO AND NAVIDAD Exploration drilling approximately 900 metres ('m') south of the Santa Elena processing plant has discovered the Santo Niño vein - a large, epithermal quartz-adularia vein hosting gold ('Au') and silver ('Ag') within a newly identified fault zone. Exploration drilling to date has traced the vein over one kilometre ('km') of strike and 400 m down-dip, with thirteen intercepts to date returning significant gold and silver grades. Confirmed mineralization spans more than 600 m along strike and approximately 200 m down dip, and the upside potential is open in multiple directions. Geological characteristics closely mirror those of the Ermitaño deposit, situated approximately 2.2 km to the east-southeast along strike, underscoring the district-scale potential at Santa Elena. Drilling of the Navidad/Winter vein system, following the maiden Inferred Mineral Resource estimate effective December 31, 2024, expanded the footprint of precious metal mineralization while returning gold and silver grades substantially higher than were reported in the maiden Resource estimate. Drillhole EWUG-25-050 targeted the Winter vein more than 100 m east of prior drilling and intersected some of the highest-grade mineralization ever encountered on the Santa Elena Property: 6.8 m grading 14.8 g/t Au and 642 g/t Ag for an AgEq grade of 1,898 g/t. This interval includes 1.2 m at 29.5 g/t Au and 919 g/t Ag for 3,427 g/t AgEq; and 2.5m at 21.2 g/t Au and 1,093 g/t Ag for 2,897 g/t AgEq. Five additional significant intersections were cut further downhole including that of the Navidad vein. Resource conversion drilling confirms the continuity of precious metal mineralization and, in general, returned significantly higher gold and silver grades than estimated from prior drilling. KEY DRILLING HIGHLIGHTS Tables 1-3 below present a selection of drill hole intercepts with significant assay results from drilling at the Santo Niño and Navidad discoveries. All intercepts are true width. Santo Niño Discovery Highlights Table 1: Santo Niño Vein Significant Intercepts [This table cannot be displayed. Please visit the source.] Navidad Discovery Highlights Table 2: Winter Vein Significant Intercepts [This table cannot be displayed. Please visit the source.] Table 3: Navidad Vein Significant Intercepts [This table cannot be displayed. Please visit the source.] District-Scale Exploration Strategy Building on the exploration model unveiled in February 2025, our exploration team delivered a second gold and silver discovery in less than 12 months - the Santo Niño vein. By drilling beneath the masking andesitic cover into the prospective rhyolite horizon, geologists intercepted the Santo Niño vein and delineated zones of high-grade mineralization. Large portions of the Santa Elena concession, where this rhyolite is concealed, have not yet been explored, underscoring the district's untapped potential. Figure 1 shows the locations of the two new discoveries within the broader Santa Elena property. [ This image cannot be displayed. Please visit the source: ] Figure 1: Santa Elena Property Schematic Map of the Santo Niño and Navidad Discovery Areas. Plan View. To view an enhanced version of this graphic, please visit: Santo Niño Target The Santo Niño discovery sits approximately 900 m south of the Santa Elena processing plant and 2.2 km west-northwest of the Ermitaño deposit. Twenty-three diamond drill core holes have been completed to date with thirteen returning significant vein-hosted gold and silver mineralization (Figures 2 and 3). Eleven of those intercepts define a continuous, higher-grade zone in the vein's western upper levels. Santo Niño is a low-sulphidation, epithermal quartz-adularia vein within the Santo Niño fault zone (Figure 4). Drilling shows the structure strikes north-northwest and dips moderately to the northeast. The vein has now been traced for more than 1 km along strike and 400 m down-dip. Within that envelope, a mineralized core measuring ~600 m along strike by ~220 m down-dip has been identified to date. The average thickness of the mineralized zone is ~4.5 m and ranges from 1 m to 12.3 m. The mineralized area outlined by drilling is located in the western portion of the drill pattern projecting towards surface and the westernmost drill holes have returned some of the highest gold and silver grades. Mineralization remains open to the west and up-dip, while step-out holes on the east side have also intersected additional significant Au-Ag values that are open both eastward and at depth. The full extent of the Santo Niño vein is yet to be defined, and substantial follow-up drilling is planned for 2025 to test its lateral and vertical potential. [ This image cannot be displayed. Please visit the source: ] Figure 2: Santo Niño Discovery Details, Santo Niño Vein. (A) Vertical Cross-Section of the Santo Niño Vein looking East. (B) Plan View of the Santo Niño Vein. (C) Long-Section Looking North. Full Projection of Santa Elena Mine Located ~ 1km North from Santo Niño Vein. To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 3: Santo Niño Vein Long Section Looking North with Significant Intercepts Highlighting the Emerging Mineral Discovery. Santa Elena Mine Projected in the Background for Reference. To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 4: Core Photography of the Sano Niño Quartz-Adularia Vein with Gold and Silver Mineralization Detected by XRF Analysis Hole SE-25-19 Assay Results: 12.34 m at 1.65 g/t Au and 113 g/t Ag (true width) To view an enhanced version of this graphic, please visit: Navidad Target Drilling in the first half of 2025 has significantly expanded the Navidad/Winter vein system and delivered assay grades that exceed the averages estimated from prior drilling in the maiden Inferred Mineral Resource estimate. Step-out and in-fill holes have now traced the combined structure for 1.3 km along strike and 450 m down-dip, confirming both the lateral continuity and the vertical reach of high-grade mineralization. The most significant growth has occurred on the eastern flank of the deposit. Since the resource cut-off date, drilling to the east has expanded the Winter vein by 175 m, and the Navidad vein by 325 m, with each step-out hole returning robust precious-metal values (Figure 5). Three holes highlight the potential for deposit grade increase, and core photos from these holes are shown in Figures 6 and 7: Structural interpretation indicates that the principal mineral shoots in both veins plunge gently - about 20° toward the east-northeast - and remain open up and down plunge (Figures 8 and 9). In combination with the emerging Santo Niño discovery, the Navidad/Winter results reinforce Santa Elena's status as a district-scale, multi-deposit system with significant upside. An aggressive drill program, with nine active rigs currently, is in progress for the remainder of 2025, drilling aims to test the full strike length and depth potential of the new discoveries and to explore for additional mineral deposits. [ This image cannot be displayed. Please visit the source: ] Figure 5: Navidad Vein System Detail. Winter and Navidad Veins. (A) Long-Section of Winter Vein Showing Expansion from Drilling. (B) Plan View of Winter Vein. (C) Long Section of Navidad Vein Showing Expansion from Drilling. (D) Plan View of Navidad Vein. Full Projection, Long Sections Looking North. To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 6: Core Photography of the Winter Vein with Very High-Grade Gold and Silver Mineralization Detected by XRF Analyzer. Hole EW-25-050 Assay Results: 6.81 m at 14.77 g/t Au and 642 g/t Ag (true width). To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 7: Core Photography of the Navidad Vein with High-Grade Gold and Silver Mineralization Detected by XRF Analyzer. Hole EW-25-389 Assay Results: 1.23 m at 2.33 g/t Au and 158 g/t Ag and 3.75 m at 6.06 g/t Au and 103 g/t Ag (true width). To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 8: Winter Vein Long Section Looking Northwest with Significant Intercepts. Green Boundary Represents the Previously Disclosed Inferred Mineral Resource. To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 9: Navidad Vein Long Section Looking Northwest with Significant Intercepts. Green Boundary Represents the Previously Disclosed Inferred Mineral Resource. To view an enhanced version of this graphic, please visit: Table 4: Drilling Summary of Significant Gold and Silver Drill Hole Intercepts at Santo Niño and Navidad Discoveries [This table cannot be displayed. Please visit the source.] Notes: First Majestic's drilling programs follow established Quality Assurance, Quality Control ('QA/QC') insertion protocols with standards, blanks, and duplicates introduced into the sample-stream. After geological logging, all drill core samples are cut in half. One half of the core is submitted to the laboratory for analysis and the remaining half core is retained on-site for verification and reference purposes or for future metallurgical testing. Core samples were submitted to the SGS laboratory (ISO/IEC 17025:2017) and to the First Majestic Central laboratory (Central laboratory) (ISO 9001:2015). At SGS, gold is analyzed by 30 g or 50 g fire assay atomic absorption finish (GE-FAA30V5, GE-FAA50V5). Results above 10 g/t gold are analyzed by 30 g or 50g fire assay gravimetric finish (GO-FAG30V, GO-FAG50V). Silver is analyzed by 3-acid digest atomic absorption finish (GE-AAS33E50). Results above 100 g/t silver are analyzed by 30 g or 50 g fire assay gravimetric finish (GO-FAG37V, GO-FAG57V). At Central laboratory, gold is analyzed by 30g fire assay atomic absorption finish (AU-AA13). Results above 10 g/t are analyzed by 30 g fire assay gravimetric finish (ASAG-14). Silver is analyzed by 3-acid digestion atomic absorption finish (AAG-13). Results above 100 g/t are analyzed by 30 g fire assay gravimetric finish (ASAG-14, ASAG-13). For further information concerning QA/QC and data verification matters, key assumptions, parameters, and methods used by the Company to estimate Mineral Reserves and Mineral Resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of Mineral Reserves and Mineral Resources, see the Company's most recently filed Annual Information Form available under the Company's SEDAR+ profile at and the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at QUALIFIED PERSONS Gonzalo Mercado, P. Geo., the Company's Vice President of Exploration and Technical Services and a 'Qualified Person' as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. Mercado has verified the exploration data contained in this news release, including the sampling, analytical and test data underlying such information. ABOUT FIRST MAJESTIC First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A. First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at at some of the lowest premiums available. For further information, contact [email protected], visit our website at or call our toll-free number 1.866.529.2807. FIRST MAJESTIC SILVER CORP. 'signed' Keith Neumeyer, President & CEO Cautionary Note Regarding Forward-Looking Statements This news release contains 'forward‐looking information' and 'forward-looking statements' under applicable Canadian and U.S. securities laws (collectively, 'forward‐looking statements'). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the full extent of the Santo Niño vein; follow-up drilling planned for 2025; statements relating to potential for grade increase of deposits; potential of drilling programs; and extension of mine life. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as 'seek', 'anticipate', 'plan', 'continue', 'estimate', 'expect', 'may', 'will', 'project', 'predict', 'forecast', 'potential', 'target', 'intend', 'could', 'might', 'should', 'believe' and similar expressions) are not statements of historical fact and may be 'forward‐looking statements'. Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes; general economic conditions including inflation risks; labour relations; relations with local communities; changes in national or local governments; exchange rate fluctuations; environmental risks; requirements for additional capital; outcomes of pending litigation; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations as well as those factors discussed in the section entitled 'Description of Business - Risk Factors' in the Company's most recent Annual Information Form for the year ended December 31, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at and in the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. Cautionary Note to United States Investors The Company is a 'foreign private issuer' as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards. Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects. APPENDIX - DRILL HOLE DETAILS Table A15: Drill Hole Collar Location, Sample Type, Azimuth, Dip and Total Depth Notes: To view the source version of this press release, please visit
