VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Pistol Bay Mining Inc. (TSX-V:PST) (Frankfurt:OQS2) (“Pistol Bay” or the “Company’) is pleased to give an update on the development of our subsidiary, PB Blockchain Inc. (see news release dated November 15, 2017.) This wholly owned subsidiary is focused on blockchain applications for mining and resource company management. We will be leveraging the work of other Application Program Interface (API) companies to build a suite of blockchain products to address needs that are particular to the data management and security of mining/oil and gas companies. It is expected that many of these blockchain products could have crossover to other industries.
Charles Desjardins, President and CEO of PB Blockchain, is pleased to report that our development team is creating our own application named “HashDrop”. This will be accomplished by utilizing existing blockchain solutions to create a secure platform for parties to manage and update digital assets and documents within their data centers while providing trusted transactions with full confidence in the principle of the information being shared or accessed.
It is a secure, comprehensive, and unalterable platform that eliminates the time and costs of document sharing and assembly. It enables the organization to better coordinate compliances, deliver information efficiently, and trade digital assets securely. With a wide range of device types, our platform adapts to various device configurations.
Our easy to use interfaces are backed by the infrastructure behind the scenes to ensure fast, reliable uploads, downloads, and sharing. Our team who is creating HashDrop will continue to evolve the product and architecture to ensure speed data transfer and improved reliability.
The framework of our HashDrop application will be as follows:
Designed with multiple levels of protection covering:
Administration will have comprehensive control of:
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company has also created a subsidiary for resource driven blockchain applications. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at firstname.lastname@example.org.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
President and Director
Source: Pistol Bay Mining Inc.
New Gold to Discuss 2017 Fourth Quarter and Year-End Financial Results on Wednesday February 21 2018
TORONTO, Jan. 29, 2018 /CNW/ - New Gold Inc. ("New Gold") (TSX:NGD) (NYSE American:NGD) announces that it will release its year-end 2017 financial results after market close on Tuesday, February 20, 2018. A webcast and conference call to discuss these results will be held on Wednesday, February 21, 2018 at 10:00 a.m. Eastern time. Participants may listen to the webcast by registering on our website at www.newgold.com. You may also listen to the conference call by calling toll free 1-888-231-8191, or 1-647-427-7450 outside of the U.S. and Canada. A recorded playback of the conference call will be available until March 21, 2018 by calling toll free 1-855-859-2056, or 1-416-849-0833 outside of the U.S. and Canada, passcode 9585489. An archived webcast will also be available until May 21, 2018at www.newgold.com.
ABOUT NEW GOLD INC.
New Gold is an intermediate gold mining company. The company has a portfolio of five producing assets in top-rated jurisdictions. The New Afton and Rainy River Mines in Canada, the Mesquite Mine in the United States, the Peak Mines in Australia and the Cerro San Pedro Mine in Mexico (which transitioned to residual leaching in 2016), provide the company with its current production base. In addition, New Gold owns 100% of the Blackwater project located in Canada. New Gold's objective is to be the leading intermediate gold producer, focused on the environment and social responsibility. For further information on the company, please visit www.newgold.com.
SOURCE New Gold Inc.
NRG Metals Announces High Grade Lithium Sample Results at Hombre Muerto Norte Project and Issue of Drilling Permits
January 26, 2018 / Vancouver, BC / NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ)(OTCQB: NRGMF) (Frankfurt OGPN), is pleased to announce the results of a recent sampling program at the Company’s 3,237 hectare Hombre Muerto Norte lithium project in Salta Province, Argentina. The results are summarized in the following table.
Jose de Castro, COO of NRG, commented “We are delighted by the by the high lithium values and the favorable low Mg/Li ratios at Hombre Muerto Norte. NRG recently obtained permits from the provincial government of Salta for drilling and construction of evaporation test ponds, and the Company expects to award a drilling contract and commence construction of the test ponds shortly.”
The Hombre Muerto Norte project is located at the northern end of the prolific Hombre Muerto Salar, adjacent to FMC’s producing Fenix lithium mine and Galaxy Resources’ Sal de Vida development stage project. The Fenix mine is the largest producing lithium mine in Argentina, and the Sal de Vida project is the largest development stage lithium project in Argentina. The location of the samples is shown on the following map.
The sampling was conducted during the second week of January and supervised by Mark Rosko of Montgomery & Associates of Santiago, Chile. Mr. Rosko is a Qualified Person under National Instrument 43-101. Measurements in the field included pH, conductivity, temperature and density, and the field measurements were consistent with the same measurements made in the laboratory. The samples were analyzed by the Alex Stewart laboratory in Jujuy, Argentina. Alex Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry (“ICP-OES”) as the analytical technique for the primary constituents of interest, including those shown in the table. Alex Stewart maintains a strict internal QA/QC program employing multiple standards, re-analyses by AA and calculation of ionic balances. Mr. Rosko introduced blanks and duplicate samples for QA/QC, and all QA/QC results corroborate the analyses reported in this press release.
As reported in the Company’s 43-101 Technical Report dated October 2017, CSAMT geophysical data (controlled source audio-frequency magneto-tellurics) suggests that the brine zone may extend to considerable depth, as illustrated on the following cross section that extends from the Alba Sabrina property on the west to the Tramo property on the east.
About the Company
NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. In addition to the Hombre Muerto Norte project, the Company is evaluating its 29,000 hectare Salar Escondido project in Catamarca province where the company recently completed the first drill hole that proved the Company’s conceptual model of a buried lithium brine target.
NRG Metals Inc. currently has approximately 109 million shares issued and outstanding, and trades on the TSX Venture Exchange under symbol NGZ, on the OTC QB Market under symbol NRGMF, and on the Frankfurt Stock Exchange under symbol OGPN. The Company currently has working capital of CAD$3.1 million dollars.
Mr. Rosko supervised and approves the scientific and technical disclosure contained in this press release.
On behalf of the board of directors of NRG Metals Inc.:
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbour.
via NRG Metals Inc. | Energy Metals Exploration | Junior Mining Corporation http://ift.tt/2FkaKSW
Acquisition would create a 450,000 ounce per year gold producer with significant growth potential.
VANCOUVER, Jan. 23, 2018 /CNW/ - Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) ("Leagold" or the "Company") is pleased to announce that it intends to make an offer (the "Offer") to acquire all of the issued and outstanding shares (the "BrioShares") of Brio Gold Inc. ("Brio") on or before February 28, 2018. Pursuant to the Offer, holders of Brio Shares will receive 0.922 of a share of Leagold for each Brio Share held, representing an implied price of C$2.80 per Brio Share and total consideration for all of the issued and outstanding Brio Shares of approximately US$264 million, based on the 5-day volume weighted trading price of Leagold shares on the Toronto Stock Exchange (the "TSX").
Leagold CEO Neil Woodyer stated:
"Leagold's growth strategy in Latin America started with the acquisition of the Los Filos mine in Mexico in April 2017 from Goldcorp, and we have a clear objective of building Leagold into a leading, intermediate gold producer in Latin America. This strategy focuses on acquiring operating gold mines and projects nearing construction, post-acquisition asset optimization, and unlocking value.
"The combination with Brio represents a unique opportunity to acquire a portfolio of producing assets with a meaningful growth profile. The all-stock offer results in Brio shareholders owning approximately 42% of the combined company. The combined operations are expected to produce approximately 450,000 ounces in 2018, with the potential for growth to over 700,000 ounces in 2020 at all-in sustaining costs in the mid-$800s1. In addition, this combination reduces overall business risk by having four operating mines in two jurisdictions. We regard both Mexico and Brazil as jurisdictions with considerable future potential for Leagold.
"Leagold is offering a 57% premium to Brio shareholders, which provides full value and is justified based on the currently discounted value of Brio's assets and the expected savings from eliminating most of their corporate costs. We have support from Brio's controlling shareholder Yamana, with 53.6% of Brio, and several large Leagold shareholders who in the aggregate hold approximately 57% of the company."
VANCOUVER, British Columbia, Jan. 23, 2018 (GLOBE NEWSWIRE) — NRG Metals Inc. (“NRG” or the “Company”) (TSX-V:NGZ) (OTCQB:NRGMF) (Frankfurt:OGPN), is pleased to provide an update on drilling and development at the Company’s recent lithium discovery at the Salar Escondido Lithium Project (“Salar Escondido”), Argentina.
As previously reported, the first hole was drilled to a depth of 307 meters. Samples were reported from 172 to 198 meters and averaged 189 mg/l Li (lithium), 868 mg/l Mg (magnesium), and 3,170 mg/l K (potassium). A sample interval from 183 to 198 meters returned 229 mg/l Li, 1,033 mg/l Mg, and 3,990 mg/l K. Further samples were attempted, however, hole caving and fresh water contamination from drilling fluids prevented the collection of further representative samples.
The first hole at Salar Escondido has confirmed the presence of significant lithium mineralization and provided important information to guide the next phase of drilling and process development. Most importantly, the results have confirmed the target concept that Salar Escondido has the potential to host a significant lithium deposit. Given the history of lithium exploration at other salars in Argentina, the Company believes that the potential to encounter higher grades at greater depths is feasible.
In addition to discovering lithium in the first hole, another positive characteristic of the basin noted during drilling is the potential for high permeability. The material that hosts the brine zone is comprised of mainly loosely consolidated sand and conglomerates, which should be highly permeable and allow high pumping and recharge rates. High permeability is an important factor in evaluating the potential of lithium brine bearing salars. The first drill hole ended in sediments so the thickness of the basin remains open at depth along with the potential of these sediments to host lithium bearing brine. The project size at 29,000 hectares, which is believed to cover a large portion of the basin, allows for significant further exploration.
A request for quotation has been distributed to drill service providers. Key management will be reviewing proposals and conducting an on-site visit to both the Salar Escondido and Hombre Muerto North lithium projects during this week. The phase I drilling provided valuable information on the issues to be faced drilling at Salar Escondido that will be applied to the Phase II drilling.
The updated program will resume as soon as practicable utilizing tricone or rotary drilling with perforated casing that will facilitate sampling of the brine targets defined by the geophysical surveys and our first test drill hole. The Company intends to rapidly define the new lithium discovery at Salar Escondido.
Company President and C.E.O. Adrian F.C.Hobkirk is quoted “we are excited to have made an initial lithium discovery at Salar Escondido, and look forward to further drilling at this site in the coming weeks.”
Mr. William Feyerabend, a Certified Professional Geologist and a Qualified Person under NI 43-101, supervised and approves the scientific and technical disclosure contained in this press release.
NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. In addition to the Salar Escondido lithium project, the Company is evaluating the 3,287 hectare Hombre Muerto North lithium project (“HMN”) in the province of Salta. The HMN is located at the northern end of the prolific Hombre Muerto Salar, adjacent to FMC’s producing Fenix mine and Galaxy Resources’ Sal de Vida development stage project. The company has filed an environmental impact study with the mining authorities in Salta Province for permits to complete drilling, pump testing, and evaporation test pond construction. Approval is expected shortly.
The Company currently has working capital of $3.13 million dollars. The Company plans to use its working capital to fund the ongoing exploration drill programs at the Salar Escondido and HMN Projects.
NRG Metals Inc. currently has approximately 107 million shares issued and outstanding, and trades on the TSX Venture Exchange under symbol NGZ, on the OTC QB Market under symbol NRGMF, and on the Frankfurt Stock Exchange under symbol OGPN.
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forwardlooking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned
not to place undue reliance on forward-looking statements. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbour.
Moneta intersects all veins in new South West interpretation, returns up to 3.0m @ 7.13g/t Gold and 3.0m @ 7.01g/t Gold
TORONTO, Jan. 18, 2018 /CNW/ - Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP) ("Moneta or the "Company") is pleased to announce that it has completed the first drill hole (MGH17-051) to test the new structural interpretation of the South West target located within the Company's Golden Highway Project located approximately 110km east of Timmins, Ontario.
"During 2017 the Company completed an extensive re-interpretation of mineralization previously intersected at South West. The program resulted in the recognition and modelling of an array of stacked en échelon NW trending, SW steeply dipping, quartz-carbonate-pyrite veins. Initial modelling has been completed on 6 of these veins. The first hole to test this new interpretation has confirmed the existence, location and grades of the 6 interpreted veins with several additional veins also being intersected. We are encouraged by the results and will continue to drill test the potential size and gold tenor of the South West vein system" commented Gary O'Connor, Co-CEO & Chief Geologist.
The South West drill program is part of the previously announced 2017 exploration drill program undertaken by the Company to test higher grade targets on the Golden Highway Project which consisted of over 20,000m and 50 drill holes. Drill hole MGH17-051 was the first drill hole designed at South West to drill test the 6 new modelled veins as part of an 8,500m program in 14 holes. The significant results returned from hole MGH17-051 are included in Table 1 and figures showing the location of the hole on cross section (Figure 2). Long sections for each of the 6 veins with "grade-thickness" colour contours generated from over 60 historical drill holes with the pierce points of hole MGH17-051 are included (Figure 3, Figure 4 and Figure 5). The encouraging results will result in the expansion of the drill program. Assays for other drill holes are pending and will be released as they become available.
Please click here for Figure 1: South West Location Map- Golden Highway Project:
South West Area
The re-interpretation of the mineralization at South West, utilizing 241 historical drill holes comprised of 94,127m of core, resulted in the interpretation of a tension vein array occurring as stacked en échelon veins within an ENE trending shear zone. Modelling to date has identified six NW (310°) trending veins which dip steeply to the south-west at 70°, have an average width of approximately 3m to 4m and are spaced 25m to 30m apart. The veins occur south of the main banded iron formation in the central block at South West within clastic greywacke sediments of Timiskaming age and can be traced for up to 350m and are open to the south. A new and possibly 7th vein (Tamarack?) was intersected west of Elm Vein at a depth of 369.0m and returned 2.30m @ 5.03g/t Au (including 1.0m @ 7.05g/t Au) in addition to several other new veins.
Modelling of the veins has been conducted down to 350m to 400m and historical drilling of the veins has been completed as deep as 900m. The deeper extensions of the veins have not been modelled due to the amount of drilling however the individual veins can be traced to depth. Additional NW trending veins have been identified from historical drilling and are currently being modelled and drill tested. Additional vein sets trending 340° (NNW) and dipping to the west have also been identified as have riedel shear veins trending ~NE and dipping to the north. Steeply dipping mineralized shoots have also been recognised along the north bounding shear plane which occurs at the BIF contact. These are also currently being interpreted, modelled and drill tested.
The quartz-carbonate-pyrite veins occur within a distinct ankerite alteration halo occasionally associated with sericite. A zone of sulphide(pyrite)-chlorite and quartz veinlets occurs adjacent to the veins and hosts mineralization. The veins can be brecciated and occur as quartz matrix supported breccia zones.
Please click here for Figure 2: South West: Interpretive Cross Section and Map:
Please click here for Figure 3: South West: Long Sections for the Cedar and Balsam Veins:
Please click here for Figure 4: South West: Long Sections for the Birch and Pine Veins:
Please click here for Figure 5: South West: Long Sections for the Spruce and Elm Veins:
All core drilling conducted by Moneta is oriented. Drill core is sawn and half is sent for drying and crushing to -2mm, with a 1kg split pulverized to -75µm (200#). A 50g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at a second laboratory. Gary O'Connor, MAusIMM has reviewed and approved the contents of this press release.
The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at email@example.com.
SOURCE Moneta Porcupine Mines Inc.