Range Energy – Temporary three month truce declared in Khalakan litigation

Range Energy {CSE: RGO} have announced that they and their partners have “agreed to suspend their litigation for three months“.

As a result, Range can finally advise their news starved shareholders of progress on the project.

Comment

 

This remains the most absurd case I have ever heard a listed company being involved in, and wonder why a  truce has been declared at this juncture?

So Range can advise their shareholders of news for three months, and then we have to wait and see whether they have to stop again, or not.

One wonders what are the deciding factors in whether or not this agreement will be extended or not?

It is very difficult to be a shareholder in a company where they are not allowed to issue news, let’s hope this absurdity has finally come to an end on a permanent basis!

 

 

News Release

 

Range, Gas Plus halt Khalakan litigation for 3 months

 

RANGE ENERGY REACHES AGREEMENT TO TEMPORARILY SUSPEND LITIGATION REGARDING INFORMATION DISCLOSURE

 

2015-09-01 17:22 ET – News Release

Mr. Toufic Chahine reports.

 

Range Energy Resources Inc. {CSE: RGO} has reached a temporary initial three-month suspension agreement with Gas Plus Khalakan Ltd. (GPK) and New Age Alzarooni 2 Ltd. (NAAZ2) regarding the continuing litigation over the company’s right to receive and disclose certain material information on petroleum operations at the Khalakan block in Kurdistan region of Iraq.

 

Under the agreement, the parties will temporarily suspend litigation in the Jersey Islands regarding an injunction that prevents the release of information to the company. GPK obtained this injunction in January, 2015. During the agreed suspension period, GPK will periodically release to the public certain information regarding petroleum operations at the Khalakan block.

 

Toufic Chahine, chairman of Range, provided the following comment: “We are delighted to have reached a temporary agreement regarding our ongoing litigation, and we look forward to working with NAAZ2 to provide this information to Range’s shareholders in the near future and are hopeful for a longer-term settlement with all of the parties.”

 

We seek Safe Harbor.

 




Neometals and Mineral Resources confirm Jiangxi investment is approved

Neometals {ASX: NMT} and  Mineral Resources {ASX: MIN} both advise that Jiangxi Ganfeng Lithium Co of China confirms their equity investment into their jointly owned subsidiary.

This is a massive step forward for the project.

 

Mt Marion Lithium Project Off-take and Equity Investment Foreign Investment Review Board Approval Neometals Ltd {ASX: NMT} and Mineral Resources Limited {ASX: MIN} – via its wholly owned subsidiary Process Minerals International Pty Ltd) refer to their joint announcements on 16 July 2015 and 31 August 2015 regarding the binding Memorandum of Understanding (“MOU”) entered into by their jointly owned subsidiary Reed Industrial Minerals Pty Ltd (“RIM”) with Jiangxi Ganfeng Lithium Co., Ltd (“Ganfeng”).

 

Neometals and MIN are pleased to advise that Ganfeng has received confirmation from the Foreign Investment Review Board (“FIRB”) that FIRB has no objections to the proposed equity investment by Ganfeng in RIM. This satisfies the condition in the MOU for receipt of FIRB approval. Neometals and MIN will continue to keep the market updated on material developments relating to the proposed investment. ENDS

 

For further information, please contact:

Chris Reed Managing Director Neometals Ltd

T: +61 8 9322 1182

E: info@neometals.com.au

 

Bruce Goulds CFO/Company Secretary Mineral Resources Limited

T: +61 8 9329 3600

E: bruce.goulds@mineralresources.com.au




City Investors Circle Market Update for August issued

City Investors Circle London issue a free monthly market update, covering companies we have presented to investors, enabling them to follow the ongoing story, and maintain interest in the companies concerned.

If you require a copy of our latest update, please email rhea@city-investors-circle.com and we will be delighted to send you one, and also add you to our mailing list for future updates and information concerning our free to attend events.

 

City Investors Circle London present exciting growth companies to investors in the financial district of the City of London,  from time to time.

 

In order for investors to follow the fortunes of these companies after the presentation, we update their news releases onto our website, and issue a monthly market update newsletter highlighting the various news items, with some opening comments about the current state of the market.

 

Recipients of our newsletter also receive priority invitations to our investor presentations, where we present a company or two in an informal relaxed setting, and finish off with investor networking, complimentary fine wines, and a wonderful buffet.

 

All investors and those interested in investing are welcome to attend, the atmosphere is friendly and informal, and includes a broad range of investment experience from novice investors to city professionals.

 

If you wish to register for our newsletter and event invitations you may either register on the website www.city-investors-circle.com, or email Rhea@city-investors-circle.com, and she will be delighted to register you.

 

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Neometals extend agreement execution date with Jiangxi until 15th September

Neometals {ASX: NMT} have agreed to extend their MOU agreement date with Jiangxi Ganfeng Lithium Co.

The new execution date is now 15th September 2015.

Neometals Ltd {ASX: NMT}  refers to the joint announcement by Neometals and Mineral Resources Limited {ASX: MIN} via its wholly owned subsidiary Process Minerals International Pty Ltd) on 16 July 2015 regarding the binding Memorandum of Understanding (“MOU”) entered into by its jointly owned subsidiary Reed Industrial Minerals Pty Ltd with Jiangxi Ganfeng Lithium Co., Ltd (“Ganfeng”).

The parties are continuing to progress the formal agreements to document and give full effect to the terms agreed in the MOU and have agreed to extend the date for the execution of the agreements to 15 September 2015.

Following execution of the formal agreements and receipt of FIRB approval, Ganfeng will seek approval of the transaction from its shareholders and the Jiangxi Provincial Government.




CamKids -The most bizarre RNS ever?

Camkids Group {AIM: CAMK} recently issued one of the most, if not the most bizarre RNS ever on the LSE.

In effect, as a result of the actions of the board of directors, their cash pile of 401 million RMBI has virtually evaporated at the stroke of a pen!  

As CamKids is not the type of company I normally invest in or follow.I was alerted to this incredible RNS by reading an article on the ShareProphets website, so plaudits are due to them in highlighting this madness.

 

After reading the article I initially felt shocked that a company could issue such an RNS and imagine anyone would believe it, and then the more I thought about it, my shock turned to anger, that people that trusted the BOD have been treated in such a way, and the LSE and NOMAD are allowing this.

In April 2015 CAMK reported year end results, and stated “Camkids remains cash generative with year-end net cash of RMB401 million (2013: RMB313 million)”

The exchange rate is roughly £1 to 10 RMBI, so around £40 million in cash in the bank.

Some doubted they had such an amount in the bank, but this is what they reported.

Effectively, the board of directors have, (working in the best interests of shareholders of course!) taken the incredible actions,detailed below, and will have cleared out virtually all of the the claimed 400 million RMBI million from the bank!

They said it wasn’t there, well it’s not now!

Now they have issued the RNS below, and I have highlighted the relevant parts in red, all emphasis is mine.

 

RNS Number : 5859V

Camkids Group PLC

10 August 2015

Trading statement, distributor update and extension of payment terms.
Camkids Group plc (AIM: CAMK), a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children, announces the following trading update.

The Board expects that the Group’s turnover for the year ending 31 December 2015 will broadly be in line with market forecasts.

The order book was down 45% for Autumn / Winter on a year-on-year basis, which is marginally more than the previously announced reduction on the year-on-year Spring / Summer order book.

 

The Board considers that the current difficult macro-economic  conditions in China represent an opportunity for Camkids to review its arrangements with under performing distributors.

 

Following the conclusion of this review, the Board has decided to terminate the Group’s relationship with three of its existing distributors. These distributors represented approximately 17.5% of the Group’s revenues in 2014 and this figure is expected to be no more than 14.5% of revenues in the first half of 2015.

 

The termination arrangements, which are subject to ongoing negotiation, are expected to include a requirement that the Group purchases back the inventory held by the distributors, for an amount totalling approximately RMB 285 million. Furthermore, the Board anticipates that the Group will be required to make contractual compensation payments to the outgoing distributors in relation to their stores, totalling approximately RMB 70 million.

 

Camkids has already identified two new replacement distributors to cover the entirety of the territories previously covered by the outgoing distributors. The Board anticipates that the majority of the repurchased inventory will be resold to the new distributors but likely at a substantially reduced price. As a result of these exceptional costs, the Board expects that the Group will report a meaningful net loss after exceptional items in its 2015 results. The Group’s cash reserves will be substantially reduced by virtue of the sums being paid to the distributors. Notwithstanding this, the Board believes that replacing the outgoing distributors is necessary and acquiring all of their remaining Camkids inventory will ensure that this is not sold in such a way as to damage the Camkids brand.

 

The Board continues to review the Group’s cost base and strategy and looks forward to the benefits of its enhanced distributor network. None of the Group’s distributors, including the outgoing distributors and the new distributors, are connected to any director or substantial shareholder of Camkids or any of their family members.

 

The Group also intends to repurchase approximately RMB80 million of inventory from its remaining distributors. In keeping with its social responsibility practice in previous years, this inventory will be donated to children in poorer areas of China. The Board also sees this as an important exercise in promoting the Camkids brand throughout China, as well as in preventing discounted sales of its products. In addition, on account of the continuing difficult trading conditions in China, the Group has agreed with its distributors to temporarily extend payment terms from 120 days to 180 days until the end of 2015.

 

Camkids’ Chairman, Zhang Congming, commented: “Trading conditions remain difficult in China and we anticipate the trend of decreasing order books continuing into 2016. However, we are seeking to use these conditions to our advantage in replacing under performing distributors at a lower cost than we would otherwise have been able to had trading conditions been better.

 

“Excluding the exceptional costs of replacing certain distributors and repurchasing unsold inventory, we anticipate that Camkids will achieve a small operating profit for the year ending 31 December 2015, which, although behind market forecasts, we consider to be encouraging given the current macro-economic climate.”

-Ends-

For further details, please contact:

 
 Camkids Group plc 
 Zhang Congming, Executive            Tel: +44 (0) 20 7653 
  Chairman                                            9850 
 Ng Pei Eng, Chief Finance              www.camkids-ir.com 
  Officer

 

The question is, are the LSE and the NOMAD asleep at the wheel?

Or is it they simply don’t care?




Nouveau Monde complete their private placement for circa CAD$3 million

Nouveau Monde Mining Enterprises Inc.{TSX.V: NOU}  announces that they have completed  the third and final tranche of their recently announced private placement.

Total proceeds are now an impressive $2,995,376.

Nouveau Monde Announces Third and Final Closing of Private Placements for a Proceed of $ 1,580,525.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE  UNITED STATES.

GATINEAU, QUÉBEC– Aug. 28, 2015) – Nouveau Monde Mining Enterprises Inc.{TSX.V: NOU}  announces the closing of the last tranche of two non-brokered private placements, the first one of a total of 7,750,167 units, at a price of $ 0.15 per Unit, for an aggregate proceeds of $ 1,162,525 and the second one of a total of 2,090,000 common shares issued as flow-through shares, at a price of $ 0.20 per Flow-Through Share, for an aggregate proceeds of $ 418,000. Including the two first tranches announced July 20th and August 13th earlier this summer, total proceed raised in the financing is CAD $2,995,376.

 
Each unit is comprised of one common share of the Corporation and one-half of one common share purchase warrant. Each whole common share purchase warrant shall entitle the holder thereof to subscribe for one common share of the capital stock of the Corporation, at a price of $0.20 per common share, for a period of 36 months following the closing.

 
The proceeds of the offering will be used by Nouveau Monde for its working capital and to incur exploration expenses on the Matawinie property leading to a NI43-101 resource calculation.

 

Registered Exempt Market and Broker Dealers in Canada received cash payments of CAD $37,062 and 72,345 broker warrants to purchase up to 72,345 common shares in the capital stock of the Corporation, at a price of $ 0.15 per common share, within a delay of 24 months after the closing and 130,550 broker warrants to purchase up to 130,550 common shares in the capital stock of the Corporation, at a price of $ 0.20 per common share, within a delay of 24 months after the closing.All securities issued under the third tranche of the financing are subject to a restricted period of four months and a day, ending on December 28th, 2015 under applicable Canadian securities legislation. As a result of the second tranche of the financing, the Corporation will have 53,429,409 common shares issued and outstanding.

 
The Corporation expects to be able to file shortly all required documentation to satisfy the conditional acceptance of the TSX Venture Exchange pursuant to the Units Offering.

 
The securities issued under the first tranche of the Units Offering have not been registered under the United States SecuritiesAct of 1933 (the “Act”) or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption there from.

 

About Nouveau Monde

Nouveau Monde is a mining exploration company holding a large portfolio of base and precious metals and industrial minerals in the province of Québec, Canada.. Our business model is based on the generation of projects in new under-explored territories using the most advanced remote sensing and geophysical tools available in the industry. The company is now focusing on the development of its first major discovery on the Tony block of the Matawinie graphite project.

This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the Act, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption. No public offering of securities is being made in the United States.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Éric Desaulniers, MSc, Géo
President and Chief Executive Officer of Nouveau Monde
+1 819 923 0333

________________________________________
This communication may be considered an advertisement or solicitation under the laws of some territories, states or countries. Nouveau Monde keeps its clientele and business contacts abreast of recent developments by means of regular news bulletins, reports, specialized articles and events. Click here to unsubscribe from the Nouveau Monde mailing list.




Scorpio Gold report strong Q2 results, 2015 production guidance on track

Scorpio Gold Corp. {TSX.V: SGN} have reported strong Q2 2015 production results.

Production guidance for 2015  of 40,000 – 45,000 ounces remains on track.

 

VANCOUVER, BRITISH COLUMBIA –  Aug 27, 2015) – Scorpio Gold Corporation  {TSX.V: SGN} is pleased to announce its financial results for the second quarter ended June 30, 2015 (“Q2”).

 

This press release should be read in conjunction with the Company’s condensed consolidated interim financial statements for Q2 and Management Discussion & Analysis for the same period, available on the Company’s website at www.scorpiogold.com and under the Company’s name on SEDAR at www.sedar.com.

All monetary amounts are expressed in US dollars unless otherwise specified.

 

PERFORMANCE HIGHLIGHTS:

Q2 2015 Q2 2014 H1 2015 H1 2014
$ $ $ $
Revenue (000’s) 12,083 10,646 24,426 23,895
Mine operating earnings (000’s) 2,418 1,048 4,473 2,378
Net earnings (loss) (000’s) 1,747 608 2,502 986
Basic and diluted earnings (loss) per share 0.01 0.00 0.01 0.00
Adjusted net earnings(1) (000’s) 1,772 524 2,751 910
Adjusted basic and diluted net earnings per share(1) 0.01 0.00 0.01 0.00
Adjusted EBITDA(1) (000’s) 2,867 3,308 4,738 7,241
Adjusted basic and diluted EBITDA per share(1) 0.01 0.02 0.02 0.04
Cash flow from operating activities (000’s) 4,608 2,224 8,952 5,362
Total cash cost per ounce of gold sold(1) 800 815 798 803
Gold ounces produced 8,738 9,034 20,690 19,328

 

Peter Hawley, President & CEO, comments, “The Company continued its consistent performance with another strong quarter at Mineral Ridge, and is well on track to meet its 2015 production forecast of 40,000 to 45,000 ounces of gold produced at a cash cost of $800 to $850 per ounce of gold sold.

Operational excellence remains the Company’s key focus, and with the new mining plan developed in mid-July, the Company will focus its production efforts on lower strip ratio areas at the Mineral Ridge mine with high quality ounces to offset the depressed gold price, in an effort to ensure continued performance through the second half of 2015. We are very proud of our Mineral Ridge operations team, which continues to deliver solid results despite a difficult time in the mining sector.”

 

(1) This is a non-IFRS measure; refer to Non-IFRS Measures section of this press release and the Company’s Management Discussion & Analysis for Q2 of 2015 for a complete definition and reconciliation to the IFRS results reported in the Company’s financial statements for Q2 of 2015.

 

Highlights for the Second Quarter Ended June 30, 2015 and subsequent events:

  • 8,738 ounces of gold were produced at the Mineral Ridge mine, compared to 9,034 ounces produced during Q2 of 2014.
  • Revenue of $12.1 million, compared to $10.6 million during Q2 of 2014, due to a higher number of ounces of gold sold despite a lower average gold price.
  • Total cash cost per ounce of gold sold(1) of $800, compared to $815 during Q2 of 2014.
  • Mine operating earnings(1) of $2.4 million, compared to $1.0 million during Q2 of 2014, mainly due to lower depletion and amortization.
  • Net earnings of $1.7 million ($0.01 basic and diluted per share), compared to $0.6 million ($0.00 basic and diluted per share) during Q2 of 2014.
  • Adjusted net earnings(1) of $1.8 million ($0.01 basic and diluted per share), compared to $0.5 million ($0.00 basic and diluted per share) during Q2 of 2014.
  • Adjusted EBITDA(1) of $2.9 million ($0.01 basic and diluted per share), compared to $3.4 million ($0.02 basic and diluted per share) during Q2 of 2014.
  • Cash flow from operating activities(1) of $4.6 million, compared to $2.2 million during Q2 of 2014, mainly as a result of a decrease in inventory level.
  • Effective July 28, 2015, the Goldwedge property was put on care and maintenance.
  • On August 14, 2015, the Company closed a $6 million principal amount debt financing that will be mainly used to fund the exploration and development of the Company’s Mineral Ridge property and for general working capital purposes. The debt bears interest at a rate of 10% per annum, paid quarterly in arrears, has a three year term, and is secured against all of the assets of the Company and its subsidiaries.

Highlights for the Six-Month Period Ended June 30, 2015:

  • 20,690 ounces of gold were produced at the Mineral Ridge mine, compared to 19,328 ounces produced during the six months ended June 30, 2014.
  • Revenue of $24.4 million, compared to $23.9 million during the six months ended June 30, 2014, mainly due to increased production which resulted in a higher number of ounces of gold sold, but at a lower average gold price.
  • Total cash cost per ounce of gold sold(1) of $798, compared to $803 during the six months ended June 30, 2014.
  • Mine operating earnings(1) of $4.5 million, compared to $2.4 million during the six months ended June 30, 2014, mainly due to lower depletion and amortization.
  • Net earnings of $2.5 million ($0.01 basic and diluted per share), compared to net earnings of $1.0 million ($0.00 basic and diluted per share).

(1) This is a non-IFRS measure; please see Non-IFRS performance measures section.

  • Adjusted net earnings(1) of $1.4 million ($0.01 basic and diluted per share), compared to $0.9 million ($0.00 basic and diluted per share) during the six months ended June 30, 2014.
  • Adjusted EBITDA(1) of $4.7 million ($0.02 basic and diluted per share), compared to $7.2 million ($0.04 basic and diluted per share) million during the six months ended June 30, 2014.
  • Cash flow from operating activities(1) of $9.0 million, compared to $5.4 million during the six months ended June 30, 2014, mainly as a result of a decrease in inventory level.

(1) This is a non-IFRS measure; refer to Non-IFRS Measures section of this press release and the Company’s Management Discussion & Analysis for Q2 of 2015 for a complete definition and reconciliation to the IFRS results reported in the Company’s financial statements for Q2 of 2015.

 

Non-IFRS Measures

The discussion of financial results in this press release includes references to Adjusted EBITDA, Total cash cost per ounce of gold sold and Adjusted Net Earnings, which are non-IFRS measures. The Company provides these measures as additional information regarding the Company’s financial results and performance. Please refer to the Company’s MD&A for Q2 of 2015 for definitions of these terms and a reconciliation of these measures to reported IFRS results.

 

About Scorpio Gold Corporation

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada, with partner Elevon, LLC (30%). Mineral Ridge is currently in production as a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property and processing facility in Manhattan, Nevada which is currently permitted for 400 tons per day. The Goldwedge mill facility has been placed on a care and maintenance basis for the near-term and can be restarted immediately when needed.

 

Scorpio Gold’s President & CEO, Peter J. Hawley, P.Geo., is a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the content of this release.

 

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Peter J. Hawley, President & CEO

 

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.

 

The Company relies on litigation protection for “forward-looking” statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration, development and exploitation of its Mineral Ridge mine, including any forecasts regarding future production or costs related thereto. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks relating to operation of a gold mine, including unanticipated changes in the mineral content of materials being mined; unanticipated changes in recovery rates; changes in project parameters; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; availability of skilled labour and the impact of labour disputes; delays in obtaining governmental approvals; changes in metals prices; the availability of cash flows or financing to meet the Company’s ongoing financial obligations; unanticipated changes in key management personnel; changes in general economic conditions; other risks of the mining industry and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

Contact:
Scorpio Gold Corporation
Peter J. Hawley
President & CEO
+1 819 825 7618
phawley@scorpiogold.com
www.scorpiogold.com



POET Technologies announces investor conference call

POET Technologies {TSX.V: PTK} a Canadian hi tech company working on transcending the silicone chip, have announced an investor conference call.

For full information including date and time 

POET Technologies Announces Conference Call Providing Operating Plan Updates

Toronto, ON, and San Jose, CA, August 27, 2015 – POET Technologies Inc. {TSX-V: PTK} – developer of the planar opto-electronic technology (“POET”) platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements – announces that the Company’s CEO, and members of Executive Management, will host a conference call at 12:00 PM London time on September 30th, 2015 to provide an update on the Company’s operational roadmap.
We encourage investors to pre-submit questions to POET Investor Relations atpoet@taylor-rafferty.com.
We thank you in advance for your participation.

Access to the conference call can be accomplished in the following ways:

  • Conference ID: 13616913
  • When calling in to the live conference call or the audio replay (which will be available approximately three hours after the live call), callers will have to use conference ID number 13616913.

 

About POET Technologies Inc.

 

POET Technologies is the developer of the POET platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer.

 

With head office in Toronto, Ontario, Canada, and operations in San Jose, CA and Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory. The Company has several issued and pending patents for the POET process, with potential high speed and power-efficient applications in devices such as servers, tablet computers and smartphones.

 

The Company’s common shares trade on the TSX Venture Exchange under the symbol “TSX.V: PTK”, and on the OTCQX under the symbol “POETF”.

 

For more information please visit our websites at www.poet-technologies.com

 

ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary

 




Neometals releases positive Barambie Pre-feasibiity results

Neometals {ASX: NMT} have released the pre-feasibility results for their Barambie titanium project, located in Western Australia.

The project has the potential to be in the lowest quartile operating cost per tonne of pure titanium dioxide.

Neometals – Barrambie Pre-feasibility Study Results

HIGHLIGHTS

  • Confirmation of the technical feasibility of a licenced proprietary process to produce
    +99% pure titanium dioxide (TiO2).
  • Potential for lowest quartile operating cost per tonne pure TiO2 produced after co-product credits.

 

Neometals Ltd {ASX: NMT} is pleased to provide the results of its Pre-feasibility Study on its 100% owned Barrambie Titanium Project, WA.

The economic assessment carried out by Snowden, and based on Capital and Operating costs developed by Sedgman Limited, indicates the potential for a viable hard-rock titanium mining and processing operation.
The PFS has highlighted the potential for the Barrambie Project to be a low cost producer of titanium dioxide (TiO2), vanadium pentoxide (V2O5) and iron oxide (Fe2O3), over a mine life of 19.6 years.
Full details of the Pre-Feasibility Study are available on the following link;

http://www.neometals.com.au/reports/598-barrambie150825.pdf

CAUTIONARY STATEMENT

The Pre-Feasibility Study referred to in this report is based on medium level technical and economic assessments, it is sufficient to support reporting of Ore Reserves using the JORC Code but not sufficient to prove definitive assurance of an economic development case or to provide certainty that the conclusions of the Pre-Feasibility Study will be realised.




Scorpio Gold reports further drill results from Mineral Ridge, Nevada

 

Scorpio Gold {TSX.V: SGN} has reported further drill results from their Drinkwater and Chieftain targets.

“Significant results” were reported at Chieftan, yet  no follow up drilling planned for either target!

Comment

This is a bit of a strange news release from Scorpio, in that they report decent enough drill results from both targets, yet have no (current) plans to do any follow up drilling!

 

Not the usual upbeat release from SGN, but they continue to deliver news on a frequent basis, and are in production and cashflow positive at the current price of gold.

 

SCORPIO GOLD REPORTS RESULTS FROM EXPLORATION DRILLING AT THE NORTHWEST DRINKWATER AND CHIEFTAN TARGETS, MINERAL RIDGE PROJECT, NEVADA. USA

Vancouver, August 24, 2015 – Scorpio Gold Corporation {TSX-V: SGN) reports results from exploration drilling at the Northwest Drinkwater and Chieftan targets at its 70% owned Mineral Ridge project, located in Nevada.

 

The Northwest Drinkwater and Chieftan targets are located immediately northwest and 500 meters west-northwest, respectively, of the Drinkwater pit. Both target areas lie outside of currently defined resources for the Mineral Ridge project. First pass drilling at Chieftan returned significant results in 10 of 12 holes drilled (Table 1).

 

Significant results were also returned from three holes drilled at the Northwest Drinkwater target (Table 2), where previous drilling (2011-13) outlined a mineralised trend that extends approximately 300 meters northwest of the Drinkwater deposit. Scorpio Gold’s management considers the results from drilling on both targets to be encouraging. No follow-up drilling is planned on either target at this time but may be considered at a future date.

 

Table 1. Chieftan Target – Significant Drill Results

Hole
No.
Azm
(deg)
Dip
(deg)
From
(ft)
To
(ft)
Width
(ft)
From
(m)
To
(m)
Width
(m)
Gold
(OPT)
Gold
(g/t)

MR14930

0

-90

20

30

10

6.10

9.14

3.05

0.024

0.84

90

100

10

27.43

30.48

3.05

0.029

1.00

MR14940

210

-60

50

55

5

15.24

16.76

1.52

0.010

0.34

MR14961

0

-90

5

15

10

1.52

4.57

3.05

0.048

1.66

55

60

5

16.76

18.29

1.52

0.019

0.65

MR14963

0

-90

175

180

5

53.34

54.86

1.52

0.027

0.93

195

200

5

59.44

60.96

1.52

0.023

0.79

235

240

5

71.63

73.15

1.52

0.017

0.59

330

335

5

100.58

102.11

1.52

0.278

9.53

MR14964

0

-90

220

225

5

67.06

68.58

1.52

0.023

0.79

240

245

5

73.15

74.68

1.52

0.027

0.93

270

275

5

82.30

83.82

1.52

0.025

0.86

MR14965

0

-90

115

130

15

35.05

39.62

4.57

0.039

1.33

MR14967

0

-90

No Significant Results

MR14995

261

-45

0.0

11.8

11.8

0.00

3.60

3.60

0.032

1.10

36.0

37.0

1.0

10.97

11.28

0.30

0.017

0.57

112.4

115.5

3.1

34.26

35.20

0.94

0.016

0.53

312.1

322.0

9.9

95.13

98.15

3.02

0.106

3.65

391.2

392.6

1.4

119.24

119.66

0.43

0.016

0.55

MR141031

210

-55

88

92.7

4.7

26.82

28.25

1.43

0.023

0.79

MR141033

94

-45

212.0

214.5

2.5

64.62

65.38

0.76

0.095

3.25

232.5

237.5

5

70.87

72.39

1.52

0.018

0.60

286.0

311.0

25

87.17

94.79

7.62

0.022

0.74

MR141034

218

-50

186.0

190.0

4

56.69

57.91

1.22

0.022

0.74

MR141048

0

-90

No Significant Results

Table 2. Northwest Drinkwater – Significant Drill Results

Hole
No.
Azm
(deg)
Dip
(deg)
From
(ft)
To
(ft)
Width
(ft)
From
(m)
To
(m)
Width
(m)
Gold
(OPT)
Gold
(g/t)

MR14989

205

-65

316.3

333.6

17.3

96.41

101.68

5.27

0.018

0.62

444.0

448.0

4.0

135.33

136.55

1.22

0.026

0.89

MR14990

0

-85

155.5

160.3

4.8

47.40

48.86

1.46

0.034

1.17

164.0

167.0

3.0

49.99

50.90

0.91

0.022

0.75

216.6

221.4

4.8

66.02

67.48

1.46

0.033

1.13

245.0

249.7

4.7

74.68

76.11

1.43

0.016

0.55

598.7

600.0

1.3

182.48

182.88

0.40

0.036

1.23

MR141011

225

-65

548.9

553.5

4.6

167.30

168.71

1.40

0.026

0.88

619.9

624

4.1

188.95

190.20

1.25

0.022

0.75

 

 

 

All holes presented in Tables 1 and 2 were completed by reverse circulation (RC) drilling with the exception of 7 core holes MR14995, MR141031, 33 and 34, MR14989, 90 and MR141011.

 

True width is estimated at 80-100% of downhole width. Analytical results were performed by American Assay Laboratory Inc. in Sparks, Nevada, an ISO/IEC 17025:2005 accredited facility. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited facility. Further details are presented in the Company’s quality assurance and quality control program for the Mineral Ridge project available at: MR QAQC.

 

About Scorpio Gold

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Waterton Global Value L.P. (30%). Mineral Ridge is a conventional open pit mining and heap leach operation. The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada, with a fully permitted underground mine and 400 ton per day mill facility.

 

Scorpio Gold’s President & CEO, Peter J. Hawley, PGeo,, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this release.

 

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION

Peter J. Hawley,
President & CEO

For further information contact:
Peter J. Hawley, CEO
Tel: +1 819 825 7618
Email: phawley@scorpiogold.com

Website: www.scorpiogold.com

 

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.

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration, development and exploitation of its Mineral Ridge project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks involved in mineral exploration and development programs and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.




POET Technologies enter a VCSEL manufacturing agreement with ANADIGICS

POET Technologies Inc. {TSX-V: PTK} – have announced  that they have entered into an agreement with NASDAQ listed ANADIGICS {ANAD} for a VCSEL manufacturing agreement.

This agreement moves POET forward in terms of bringing a sample product to market.

TORONTO, SAN JOSE, Calif., and STORRS, Conn., August 24,2015 – POET Technologies Inc. {TSX-V: PTK} – developer of the planar opto-electronic technology (“POET”) platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements – announced today that it had entered into a VCSEL Manufacturing Services Agreement with ANADIGICS Inc.{Nasdaq: ANAD} for VCSEL process transfer and manufacturing.

 

The agreement is significant as it accelerates the transition from lab-to-fab and enables successful prototype demonstrations in a mature and capable manufacturing environment. “We are pleased to enter into this agreement with ANADIGICS.

 

ANADIGICS has proven manufacturing capabilities and a long track record of innovation. Their recent entry into foundry manufacturing for VCSELs was timely for POET,” said Dr. Suresh Venkatesan, Chief Executive Officer, POET Technologies.

 

ANADIGICS’ custom VCSEL foundry services leverage its proven wafer manufacturing line and exceptional toolset to provide a superior level of scalability. Combined with ANADIGICS’ world-class test capabilities, ANADIGICS’ wafer foundry services support the aggressive volume and cost requirements of new VCSEL applications. The advantages of ANADIGICS’ VCSEL foundry manufacturing and test capabilities were featured at the 2015 CS ManTech Conference in Scottsdale, AZ.

 

“We are extremely pleased to be working closely with POET Technologies,” said Dr. David Cheskis, Director of Optical Products at ANADIGICS. “With the industry’s first 6-inch VCSEL wafer fabrication line, ANADIGICS is able to offer manufacturing excellence and scalability, helping POET Technologies achieve its volume, quality, and reliability goals for the Company’s innovative opto-electronic devices.”

 

POET Technologies intends to start transferring its proprietary technology to ANADIGICS’ manufacturing operations in Warren, N.J. in the fourth quarter of 2015 and anticipates demonstrating integrated VCSEL prototypes in second quarter 2016.

 

“The new management team along with Founder & Chief Scientific Advisor Dr. Geoff Taylor, have assessed both internal and outsourced fabrication of POET’s disruptive technology and feels that the quickest path to our commercialization goal is through outsourcing. The Board of Directors has fully endorsed the Company’s strategy and the prospective path for lab-to-fab-to-commercialization,” said Ajit Manocha, Executive Co-chairman.

 

About POET Technologies Inc.

POET Technologies is the developer of the POET platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer. With head office in Toronto, Ontario, Canada, and operations in San Jose, CA and Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory. The Company has several issued and pending patents for the POET process, with potential high speed and power-efficient applications in devices such as servers, tablet computers and smartphones. The Company’s common shares trade on the TSX Venture Exchange under the symbol “PTK” and on the OTCQX under the symbol “POETF”.

For more information please visit our website at www.poet-technologies.com.

 

About ANADIGICS

ANADIGICS, Inc. (Nasdaq: ANAD) (“ANADIGICS”) designs and manufactures innovative radio frequency (RF) solutions for the growing CATV infrastructure, small-cell, WiFi, and cellular markets. Headquartered in Warren, NJ, ANADIGICS offers RF products with exceptional reliability, performance and integration to deliver a unique competitive advantage to OEMs and ODMs for infrastructure and mobile applications. ANADIGICS’ award-winning solutions include line amplifiers, upstream amplifiers, power amplifiers, front-end ICs, front-end modules and other RF components. ANADIGICS also offers custom foundry and testing services for the production of high-volume VCSELs.

For more information, visit www.anadigics.com

ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary

For further information:
Christopher Chu, Taylor Rafferty, LLC
Tel: (908) 251-9869
Email: poet@taylor-rafferty.com

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.

This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward -looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding an outlook. Such statements include the Company’s intention to start transferring its proprietary technology to ANADIGICS’ manufacturing operations in the fourth quarter of 2015 and its anticipation to demonstrate integrated VCSEL prototypes in second quarter 2016.

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding future growth, plans for and completion of projects by the Company’s third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company’s anticipated projects, delays or changes in plans with respect to the development of the Company’s anticipated projects by the Company’s third party relationships, risks affecting the Company’s ability to execute projects, the ability to attract key personnel, and the inability to raise additional capital. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward- looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

 




Roth Capital raise Zenyatta target price to $2.10

Zenyatta Ventures {TSX.V: ZEN} have had their BUY rating reiterated by US based ROTH Capital Group.

ROTH have raised their target price to $2.10.

ROTH Capital are California based, and have considerable experience in the corporate finance field, focusing on mining, technology, and biotech.

 

They have followed Zenyatta for some years, and have just  raised their target price for ZEN in accordance with the numbers reported in the recent PEA.

 

The market initially did not like the numbers, but has reacted favourably latterly, as differences between the different types of graphite are better understood.

It is in disseminating the difference between the various graphite grades, purities,  and prices that is perhaps ZEN’s greatest challenge.  Once this is achieved, the market will appreciate where they are in comparison to their peers.

 

The recent news release regarding collaboration with Ballard Power is hopefully the start of a succession of similar releases.

 

 

 

 

 

 




Cartier Resources – Positive geophysical results at McCormack

Cartier Resources Incorporated {TSX.V: ECR} has announced positive geophysical test results on their McCormack property.

OreVision technology was used to confirm mineralisation.

 

VAL-D’OR, QUEBEC, Aug 20, 2015 Cartier Resources Incorporated {TSX.V: ECR} announces that it has received positive geophysical test results on the MacCormack Property, situated 25 km north-north west of the Bousquet – LaRonde mining camp infrastructures.

 

The calibration tests of the OreVision technology, completed on one line over the MacDeroff massive sulphide showing and MacCormack gold showing, has confirmed the location of the mineralisation along the favorable zones.

 

The OreVision technology identified, as did the InfiniTEM II electromagnetic test, the massive sulphides situated at a depth of 100 m as defined by drilling. A new anomaly was also identified along the extension at depth of the drill defined MacCormack gold showing.

 

Philippe Cloutier, President and CEO commented”The geophysical method has identified the massive sulphide and gold-bearing mineralisation present on MacCormack. We are now planning to use it to explore the potential of the property.”

 
Quality Assurance / Quality Control

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaetan Lavalliere, P. Geo., Ph. D., and Vice President for Cartier. Mr. Lavalliere is a qualified person as defined by National Instrument 43-101.

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

The figure is available at: http://www.ressourcescartier.com/en/sites/RessourcesCartier2/Media.ashx?MediaId=541413bb-e480-430f-800f-a2af03675ad3

Contact:

Philippe Cloutier, P.Geo., President and CEO

+1 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com
SOURCE: Cartier Resources Inc.




Inovio DNA Vaccine Protects 100% Against MERS Virus in Non-Human Primates

 

Inovio Pharmaceuticals Inc. {NASDAQ: INO} have made a very positive announcement with regards to their DNA Vaccine for protection against Middle East Respiratory Syndrome (MERS).

A recent outbreak resulted in 36 deaths in South Korea, but most victims are in the Middle East.

Early results in trials using non human primates gave 100% protection against the virus

 

Inovio Pharmaceuticals DNA Vaccine Protects 100% Against Deadly MERS Virus in Non-Human Primates

 

Promising data on preventive vaccine appears in the peer-reviewed journal Science Translational Medicine

 

PLYMOUTH MEETING, Pa. – August 19, 2015 – Inovio Pharmaceuticals Inc. {NASDAQ: INO} today announced its DNA vaccine targeting the virulent Middle East Respiratory Syndrome (MERS) induced 100% protection from a live virus challenge in a preclinical study.

This medical advancement is notable because there is no vaccine or effective treatment for the MERS virus, which is clearly able to transmit from human to human. Since 2012, MERS has infected 1,400 people and killed over 500. Recently, the largest outbreak outside of Saudi Arabia of this emergent global health concern infected 186 people with 36 fatalities in South Korea.

 

In preclinical studies, Inovio and its collaborators evaluated its synthetic DNA-based MERS vaccine in mice, camels and monkeys, or non-human primates. In all three species, the vaccine induced robust immune responses capable of preventing the virus from infecting cells. The data from camels is an important finding because camels represent not only a host reservoir of the disease but act as a mode of transmission to humans. In monkeys, all vaccinated animals in the study were protected from symptoms of MERS disease when challenged with a live MERS virus. Inovio has reported on the preventive power of its synthetic DNA-based vaccines in a variety of infectious diseases including HIV, influenza, hepatitis B, Ebola and dengue.

 

Results from Inovio’s MERS vaccine development efforts appear in the peer-reviewed journal Science Translational Medicine in an article entitled, “A synthetic consensus anti-spike protein DNA vaccine induces protective immunity against Middle East Respiratory Syndrome Coronavirus in non-human primates.” Inovio’s collaborators for this study include researchers from the University of Pennsylvania, Public Health Agency of Canada, NIH, University of Washington, and University of South Florida.

 

Dr. J. Joseph Kim, President and CEO, Inovio, said: “Once again, our data demonstrates we can rapidly turn our SynCon® DNA-based immunotherapy platform to create innovative products with the potential to prevent and treat multiple infectious diseases and cancers. In this preclinical study, our synthetic vaccine shows its capability to combat a disease for which there is no vaccine. We look forward to clinically testing this product as an effective shield against the deadly MERS virus.”

 

Under a previously announced collaboration agreement with GeneOne Life Science Inc. (KSE: 011000), Inovio’s MERS vaccine product will advance into a clinical trial in healthy volunteers in the fourth quarter of this year. GeneOne will fund and conduct a phase I trial to evaluate the safety, tolerability and immunogenicity of the vaccine.

 

About Inovio’s SynCon® Immunotherapy and Vaccine Design

Inovio’s antigen-targeting DNA immunotherapies are designed to activate robust, durable and functional immune responses against cancers or infectious diseases. Our proprietary SynCon process also has a greater purpose: to break the immune system’s tolerance to cancer or provide universal protection against unmatched mutating viruses. We identify immunologically important characteristics from multiple variants or strains of the disease, then synthetically create a novel, patentable genetic sequence for each target antigen. Our immunotherapies and vaccines enable the production of these consensus antigens in the body, activating a broader immune response “footprint” than is possible naturally or by other technologies.

 

About Inovio Pharmaceuticals, Inc.

Inovio is revolutionizing the fight against cancer and infectious diseases. Our immunotherapies uniquely activate best-in-class immune responses to prevent and treat disease, and have shown clinically significant efficacy with a favorable safety profile. With an expanding portfolio of immune therapies, the company is advancing a growing preclinical and clinical stage product pipeline. Partners and collaborators include MedImmune, Roche, University of Pennsylvania, DARPA, GeneOne Life Science, Drexel University, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, and University of Manitoba.

 

For more information visit:   www.inovio.com.

CONTACT:

Bernie Hertel, Inovio Pharmaceuticals,

+1 858-410-3101,

bhertel@inovio.com




StoreDot raise $10 million to develop the five minute charge car battery

Israeli based private company StoreDot have raised US $10 million via a placing with private investors.

Chelsea FC owner Roman Abramovich, an existing shareholder, participated in this financing round. The funds will be utilised for completing the design of a molecular  car battery with a 300 mile range, that can be fully charged in only five minutes.

 

StoreDot is an Israeli based disruptive technology company, founded by Doron Myersdorf.

 

Until recently the focus of the company was in perfecting a new type of molecular battery for mobile phones. Having designed an entirely new battery structure for its proprietary FlashBattery.

 

StoreDot uses innovative organic compounds synthesised in its laboratories, to dramatically reduce charging time to the very minimum of under one minute, whilst increasing power capability.

 

Now StoreDot has turned its attention to up-scaling their battery technology to produce a car battery with a range of 300 miles, and a full charge time of just five minutes, almost the same amount of time it takes to fill a car with petrol!

 

In order to complete the research and commercialise their design, they have raised $10 million. Norma Investments Limited participated on behalf of Roman Abramovich, as did Singulariteam, and Samsung Ventures.

 

StoreDot’s unique FlashBattery technology could potentially become very disruptive, and throw assumptions about future Lithium and graphite demand way off kilter. The battery recharges over 100 times faster than traditional Li-ion batteries.

 

One wonders how long it will be before Elon Musk gives Doron Myersdorf a call?

 

 

 




Range Energy announce a private placement at 100% premium

Range Energy Resources Inc. {CSE: RGO} has announced another private placement, yet again at a premium (5c is the minimum permitted price by the market). The company have indicated that insiders are likely to participate.

This enables Range to remain in good standing financially,with their partners on the Khalakan block in Iraqi Kurdistan.

 

2015-08-17 16:20 ET – News Release

NON-BROKERED PRIVATE PLACEMENT FINANCING

 

Range Energy Resources Inc. {CSE: RGO} has arranged a non-brokered private placement of up to 6,545,500 units of the company at a price of five cents per unit for gross proceeds of up to $327,275. Each unit will consist of one common share and one transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share for a period of five years from the closing date of the offering at a price of five cents per common share.

 

The closing of the offering is subject to receipt of all necessary regulatory and board approvals. The securities issued pursuant to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The company anticipates that there will likely be insider participation in the offering.

 

The capital from the offering will be used by the company to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan block in the Kurdistan region of Iraq can continue, as well as provide general working capital.

 

We seek Safe Harbor.

 




Condor Gold extend the known gold mineralisation at La India

 
Condor Gold Plc {AIM: CNR} have announced the results for their recent first phase soil sampling on their Nicaraguan based La India Project.

The results were positive and enhanced the known geological and gold mineralisation model, with multiple new zones identified.

55km² Soil sampling programme generates exploration targets on La India Project

Condor Gold {AIM:CNR}, is pleased to announce that the first phase of soil sampling has been completed over an area of 55km² identified as prospective for hidden deep-seated gold mineralisation. 5,767 B-horizon soil samples have been collected on 200m by 50m grid spacing, closed up to 100m by 50m in areas of interest, and analysed for 53 elements to ultra-trace detection limits using a standard ICP-MS package offered by Acme Labs in Vancouver. The results have enhanced the district-scale geological and epithermal gold mineralisation model and have identified several target zones within linear features for further exploration for hidden deep-seated gold deposits.

Mark Child CEO commented, “Condor has completed soil sampling programmes on 6 areas covering 55 km² of the 313 km² La India Project. The areas were chosen as they potentially contain underground gold deposits. Of particular interest is a clear linear anomaly, which has been defined and appears to be a southeast strike continuation of the Andrea Vein, extending the Andrea hydrothermal conduit from a 2km long vein to a 4 to 7km long corridor. The soil sampling programme is part of Condor’s strategy of demonstrating the significant exploration upside of 2.4M oz gold at 4.0g/t reserve and resource at La India Project. Condor has commissioned an expert structural geologist to compile a detailed structural model aimed at producing additional exploration targets, a summary of the report will be released in the near future.”

Background and Rationale

In 2013 Condor geologists completed a district-scale study aimed at identifying and ranking areas that have the potential to host hidden deep-seated gold mineralisation. The study integrated an airborne magnetic and radiometric survey flown earlier in that year, high-resolution satellite digital terrain modelling and imaging data also acquired that year, and the existing geological mapping and exploration database to create a new model of the gold mineralisation system in La India District. Geological structures that were interpreted as potential conduits for gold mineralised hydro-thermal fluids, and where the surface exposures were interpreted as being at a high-level in the epithermal system, above the boiling zone where most of the gold is usually deposited, were identified and ranked for prospectivity. This exercise identified six areas for further exploration using soil geochemistry surveying methods optimised to detect the pathfinder elements that will have been vented along structures above the gold-enriched boiling zone.

The first phase of soil sampling has covered these priority target areas with a relatively tight-spaced 200m by 50m soil survey grid, initially over the 11km² La India South-Mojarra area reported in a press release of 29th May 2015, and then over a further 44 km² covering the Cacao-Central Breccia trend, El Tanque area, Tatascame area, Santa Barbara Hill and Real de La Cruz area

 

Analysis of Results

Initial analysis of the multi-element soil geochemical data has enhanced both the regional geological model and the hydrothermal fluid flow model. Mafic, intermediate and felsic rocks have distinct chemical signatures which are reflected in the soil geochemistry in areas with little or no rock outcrops. For example the soil survey data has improved mapping of the distribution of three principal basalt lava flows in La Mojarra, El Tanque and Tatascame. This improved bedrock geology map helps in interpreting the faults that host gold mineralisation.

The main aim of the soil survey is to improve the regional model of the gold-bearing hydrothermal system. The soil sampling has proved particularly useful in areas such as El Tanque and Tatascame where the outcrops of gold mineralised rocks are restricted to small exposures of quartz stockwork or quartz breccia where the overall strike direction is not apparent. At El Tanque ultra-trace level gold and other pathfinder elements indicative of hydrothermal alteration and mineralisation have defined both a northwest-southeast and an east-west striking mineralisation trend. At Tatascame a clear linear anomaly with a northwest-southeast orientation has been defined which appears to be a southeast strike continuation of the Andrea Vein, extending the Andrea hydrothermal conduit from a 2km long vein to a 4 to 7km long corridor. On all these linear anomalies sectors where the boiling zone mineralisation is exposed at surface have been differentiated from sectors of high level fluid venting, The sectors within or just above the boiling zone are characterised by elevated gold and silver values, the high level sectors which will be targeted for exploration for hidden gold mineralisation are elevated in arsenic, mercury, tellurium and thallium.

In other areas where the surface exposure of a vein is of limited strike extent the pathfinder elements have demonstrated additional strike continuity of hydrothermal activity, suggesting that the gold bearing vein could be considerably longer beneath the surface. For example soil geochemistry demonstrates that hydrothermal activity on the structure that hosts the 400m long Cristalito Resource of 202kt at 5.27g/t for 34k oz gold actually extends for at least 1,200m. Extensions of veins beneath the surface has already been successfully demonstrated at the flagship La India deposit where recent exploration drilling has returned significant gold intercepts at depth where there is only a soil anomaly at surface (see press release dated 29th May 2015)

 
Current and Future Exploration
 
The soil survey is currently being extended along a trend to the northwest of the El Tanque area using a broader 400m by 100m sample spacing to complete coverage of the prospective El Tanque structure identified in the 2013 targeting exercise.

 

Two soil anomalies identified on the La Mojarra area have already been drill tested: El Carrizal and Cerro El Pilon soil anomalies, located approximately 1.7km to the south and south-east respectively of La India open pit Mineral Reserve. High-level epithermal alteration and barren calcite veining were intersected at depths of up to 200m below surface at both localities suggesting that any gold mineralisation would be deeper and therefore beyond the target depth of the current exploration programme in these two targets.

More detailed analysis of variations in the pathfinder geochemistry along the fluid flow pathways, both horizontally and vertically is underway to further improve the identification of the geochemical fingerprint associated with venting of hydrothermal fluids and vapours at the top of an epithermal gold mineralisation system. The soil geochemistry results will be integrated with a review of the district-wide structural model that has been commissioned from a structural geology specialist and is currently underway. Further exploration will be planned on those structures that exhibit both a structural setting conducive to gold mineralisation and a geochemical signature indicative of deep-seated gold mineralisation.

The next phase of drilling is planned for the Real de La Cruz Concession to test beneath an area that displays both wide low-grade gold mineralised stockwork quartz zones of up to 63.6 m at 1.01 g/t gold in trench sampling, and also high-grade mineralisation in a cross-cutting 4 m true width quartz breccia grading at up to 16.4 g/t gold exposed in an artisanal pit wall (see RNS dated 19th August 2014). This drilling has been delayed until drilling permitting processes are completed.

Competent Person’s Declaration

The information in this announcement that relates to the mineral potential, geology, exploration results and database is based on information compiled by and reviewed by Dr Luc English, the Country Exploration Manager, who is a Chartered Geologist and Fellow of the Geological Society of London, and a geologist with twenty years of experience in the exploration and definition of precious and base metal mineral resources.

Luc English is a full-time employee of Condor Gold Plc, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a Competent Person as defined in the June 2009 Edition of the AIM Note for Mining and Oil & Gas Companies. Luc English consents to the inclusion in the announcement of the matters based on the information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.

Technical Glossary

B-horizon soil

The organic-poor soil horizon consisting of typically brown coloured completely weathered rock material with no primary textures. This horizon often occurs beneath the organic-rich A-horizon and contains some organic material such as roots are usually present.

 

Assay

The laboratory test conducted to determine the proportion of a mineral within a rock or other material. Usually reported as parts per million which is equivalent to grams of the mineral (i.e. gold) per tonne of rock.

 

Geochemistry

The study of the elements and their interaction as minerals to makeup rocks and soils.

 

Geophysics

The measurement and interpretation of the earth’s physical parameters using non-invasive methods such as measuring the gravity, magnetic susceptibility, electrical conductivity, seismic response and natural radioactive emissions.

 

Hydrothermal

Hot water circulation often caused by heating of groundwater by near surface magmas and often occurring in association with volcanic activity. Hydrothermal waters can contain significant concentrations of dissolved minerals.

ICP-MS (Inductively Coupled Plasma Mass Spectrometry)

A technique that measures the concentrations of elements in a substance, such as a rock, by dissolving the substance in a solution, typically an acid, ionizing a sample and separating the ions to measure the relative concentrations based on their mass-to-charge ratio. The technique is capable of measuring very low concentrations with high precision.

 

Magnetic (aeromagnetic) survey

The measurement of the magnetic properties of the earth surface as controlled by the concentration and distribution of magnetic minerals, particularly magnetite, in the rock.

Rocks containing higher levels of iron, such as mafic igneous rocks or some sedimentary rocks will have a higher magnetic susceptibility than felsic igneous rocks, siliciclastic and carbonate sediments and their metamorphic derivatives.

 

Mineral Resource

A concentration or occurrence of material of economic interest in or on the Earth’s crust in such a form, quality, and quantity that there are reasonable and realistic prospects for eventual economic extraction.

The location, quantity, grade, continuity and other geological characteristics of a Mineral Resource are known, estimated from specific geological knowledge, or interpreted from a well constrained and portrayed geological model.

 

Mineral Reserve

The economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined. Appropriate assessments and studies have been carried out, and include consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors.

These assessments demonstrate at the time of reporting that extraction could reasonably be justified. Ore Reserves are sub-divided in order of increasing confidence into Probable Ore Reserves and Proved Ore Reserves.

 

Radiometric

Also known as gamma ray spectrometry, is the  measure of natural radiation on the top 30-45 cm of the earth’s surface. The abundance of the three naturally occurring radioactive elements, potassium (K), thorium (Th) and uranium (U), is proportional to the abundance of minerals containing those elements. This information can be used in mapping the surface geology including the definition of areas of potassium enrichment related to hydro-thermal alteration.

 

Rock chip

A sample of rock collected for analysis, from one or several close spaced sample points at a location. Unless otherwise stated, this type of sample is not representative of the variation in grade across the width of an ore or mineralised body and the assay results cannot be used in a Mineral Resource Estimation.

 

Stockwork

Multiple connected veins with more than one orientation, typically consisting of millimetre to centimeter thick fracture-fill veins and veinlets.

 

Strike length

The longest horizontal dimension of an ore body or zone of mineralisation.

 

Vein

A sheet-like body of crystallised  minerals within a rock, generally forming in a discontinuity or crack between two rock masses. Economic concentrations of gold are often contained within vein minerals.

– Ends –

For further information please visit www.condorgold.com

or contact:

Condor Gold plc

Mark Child.

Executive Chairman and CEO

0207 493 2784

 



Zenyatta Ventures announces Ballard Power collaboration – initial test results positive.

Zenyatta Ventures Ltd. {TSX.V: ZEN has announced a collaboration with TSX listed fuel cell developer Ballard Power.

Initial tests on Albany produced graphite have proved positive.

 

PRESS RELEASE

Zenyatta Ventures and Ballard Power Collaborate on Fuel Cell Technology Related to Energy Storage; Testing by Ballard on Albany Graphite Exhibited High Thermal and Corrosion Resistance Properties

 
THUNDER BAY, ON, Aug 12, 2015 Zenyatta Ventures Ltd. {TSX.V: ZEN is pleased to announce that it plans to collaborate with Ballard Power Systems Inc. {TSX: BLD} on high purity graphite required in components of fuel cell technology. A first step screening process on Zenyatta’s Albany graphite confirmed its suitability for use in the bipolar plate (“BPP”) and gas diffusion layer (“GDL”) for fuel cells. High thermal stability and corrosion resistance is critical in the performance of these components in fuel cells. This research into fuel cell innovation was supported by technical, advisory services and a financial contribution from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).

Highlights:

  • — Zenyatta graphite exhibits high thermal stability and corrosion
    resistance under Ballard testing;
    — Early testing shows Albany graphite to be suitable for BPP and GDL fuel
    cell components;
    — Zenyatta and Ballard plan to build components and further test these in
    fuel cells.

Dr. Rajesh Bashyam, Senior Research Scientist, R&D for Ballard stated, “Thermogravimetric Analysis (TGA) results showed that all Albany graphite samples had high thermal stability under the Ballard standard TGA protocol. Under this protocol most forms of graphite undergo complete thermal decomposition at around 860 degrees C to lose all carbon. On the other hand, Zenyatta’s Albany graphite samples only lost 60 – 65% even at 1000 degrees C. The detailed investigation clearly indicated that the Albany graphite exhibits excellent thermal stability and this can be used advantageously in the sub-components of fuel cells, in particular as the gas diffusion layer material. Also, corrosion resistance is an important requirement for an electrically conductive material like graphite used as a component material in fuel cells. Our testing results revealed that Zenyatta graphite samples of a certain particle size were found to be more corrosion resistant than typical graphite.”
The initial test screening was conducted by Ballard for purity, particle size, corrosion resistance, thermal stability and other desirable properties for use in fuel cells. These tests revealed Zenyatta’s Albany graphite material to be suitable for use in hydrogen fuel cells with further advanced testing planned. Testing results were obtained from a lab-scale sample provided by SGS Canada Inc. (‘SGS’) solely for the purpose of providing early evaluation on the suitability and effectiveness of Albany graphite in these component applications.

 

Dr. Bharat Chahar, VP of Market Development for Zenyatta stated, “We are very pleased with these results from the Ballard testing. The purity and particle size of the Albany graphite material provided was already in the range needed for fuel cell applications, and therefore no further milling or purification was needed. Due to simple mineralogy, high crystallinity and desirable particle size distribution, Zenyatta’s Albany graphite has shown first screening specification ranges needed for the hydrogen fuel cell components. While further tests are ongoing to verify other performance characteristics, this initial feedback on results is extremely encouraging and quite promising for our upcoming advanced testing.”

 

Zenyatta commenced a market development program several months ago to initiate validation of Albany graphite in high purity graphite applications. Since the start of this program, the Company has had detailed conversations with more than 35 graphite end-users, academic labs and third party testing facilities in Europe, North America and Asia under confidentiality agreements.

 

Many of these organizations requested a specified amount of purified Albany graphite produced at the SGS site during the development of a process flow sheet. The samples produced at SGS are experimental in nature and may differ slightly from batch to batch and may also differ from the final product in the future. However these samples are representative of the product that could be processed and provide a good initial assessment and guidance for the potential of Albany graphite for various applications.

 

The goal of these initial samples was to screen Albany graphite for suitable applications while gathering feedback from the end-users and testing facilities to improve the overall properties for high value applications. The Company is now starting to receive feedback from several end-users and independent labs, some of which received repeat samples. Information from this initial test program will be used to further define the Company’s product and market strategy and set the stage for next steps in development.

 

Zenyatta plans to provide its stakeholders with brief periodic updates on the progress as meaningful information becomes available on the market and business development.

 

Fuel cells and batteries are used in energy conversion and storage applications. A battery as an energy storage device will stop producing electrical energy when the chemical reactants are consumed and then needs to be recharged. The fuel cell is an energy conversion device and will produce electrical energy as long as the fuel and the oxidant are fed to the electrodes. There are many types of fuel cells used in various end-use applications including transportation, industrial equipment, stationary power generation, back-up power, aerospace and defense. Various fuel cell technologies have been developed to convert many different fuels to electricity at high efficiencies. While fuel cells were first developed in 1960’s for niche applications such as generation of power for space vehicles, a large amount of R&D has been conducted over the last fifty years and resulted in much wider use of this technology. It is now considered a “green technology” for use in many applications. Since the fuel cells can be designed to use different forms of fuel, this is one of the leading technologies for sustainable generation of power in small to medium sized industrial applications.

 

Graphite for this market has to meet many challenging performance characteristics before it can be used in a Fuel Cell. The traditional graphite material used in bipolar plates is usually purified using expensive hydrofluoric (‘HF’) chemical or thermal processes. Zenyatta has developed an innovative purification system on its unique graphite material that does not require use of these traditional and environmentally damaging processes.

 

Graphite is used in the bipolar plate as an electrically and thermally conductive additive. Bipolar plates, which are a major component of fuel cells, are made from high purity graphite. These plates need to be impermeable to gases, have good electrical conductivity, high strength, low weight, good resistance to corrosion and should be easy to manufacture in large quantities.

 

Graphite must be high-grade (> 99.9% C) with low impurities with a viable, low cost purification process. Smaller amounts of graphite or carbon materials are used in the gas diffusion layers and the membrane electrode assembly of fuel cells, as a catalyst support, as coatings for the bi-polar plates, and in solid oxide fuel cell (SOFC) components. Gas diffusion layers use high purity, fine graphite powders for controlled porosity and low electrical resistance.

 

Based on research and dialogue with end-users, at this point in time, Zenyatta expects to have a targeted market application segmentation which includes 20-25% for high purity graphite in Fuel Cell products, 25-30% in Lithium-ion batteries, 25-30% in powder metallurgy and 15-30% from other applications.

 

The Company is in discussion with end-users on other types of high purity applications that could possibly change the market segmentation. Markets for fuel cells using hydrogen as fuel are growing rapidly and high performance graphite is a significant component of these fuel cells.

 

More information on the hydrogen fuel cells and their end-use markets is available on Zenyatta’s web site.

 

Dr. Bharat Chahar, P.E., VP Market Development for Zenyatta, is a Qualified Person for the purposes of National Instrument 43-101 and has reviewed, prepared and supervised the preparation of the technical information in this news release.

 

CAUTIONARY STATEMENT: 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. This news release may contain forward looking information and Zenyatta cautions readers that forward looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Zenyatta included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Zenyatta and Zenyatta provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Zenyatta’s future plans, objectives or goals, to the effect that Zenyatta or management expects a stated condition or result to occur, including the expected timing for release of a pre-feasibility study, the expected uses for graphite in the future, and the future uses of the graphite from Zenyatta’s Albany deposit. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of metallurgical processing, ongoing exploration, project development, reclamation and capital costs of Zenyatta’s mineral properties, and Zenyatta’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as, but are not limited to: failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the inability to identify target markets and satisfy the product criteria for such markets; the inability to complete a prefeasibility study; the inability to enter into offtake agreements with qualified purchasers; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in Zenyatta’s public documents filed on SEDAR. This list is not exhaustive of the factors that may affect any of Zenyatta’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Zenyatta’s forward-looking statements. Although Zenyatta believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Zenyatta disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Zenyatta Ventures Ltd – Contact details

+1 807 346 1660
info@zenyatta.ca
www.zenyatta.ca




Barkerville Gold identify a new exploration target at Bonanza Ledge

Barkerville Gold Mines Ltd. {TSX.V: BGM}  have confirmed they have identified a new exploration target 100 metres north of the open pit at Bonanza Ledge.

Two additional drill rigs are on order to expedite the ongoing exploration program.

 

VANCOUVER, BC– August 12, 2015 – Barkerville Gold Mines Ltd. {TSX.V: BGM}  today announced results from the ongoing Phase I drilling program on Barkerville Mountain at the Company’s flagship Cariboo Gold Project that identified a new exploration target and significantly improved the Company’s understanding of the BC Vein and the TC Area mineralisation.

 

Holes BGM-15-005 through BGM-15-007 were designed to explore the footwall rocks below the BC Vein (“BCV”), an area which had its geometry and gold grades validated during the Company’s first drill results (see BGM News Release dated July 28, 2015), for the presence of Bonanza Ledge (“BL”) style replacement mineralisation. Holes BGM-15-008 through BGM-15-013 tested a mineralised occurrence (TC Area) located approximately 100 metres north of the Bonanza Ledge open pit. Table 1 (below), presents the results from these drill holes which totaled 1,524 metres.

 

We are encouraged by  these most recent results from our ongoing program,” said Tom Obradovich, President and CEO of the Company. “In addition to finding mineralisation in each of the holes, we gained valuable information about the style and extent of that mineralisation. This data will be extremely valuable in establishing a geological model for the property and, ultimately, a development strategy.”

 

Drilling Highlights:

  • 20.58 g/t (0.60 oz/t) Au over 3.90 metres, including 59.36 g/t (1.73 oz/t) Au over 0.90 metres
  • 18.04 g/t (0.53 oz/t) Au over 3.35 metres, including 37.78 g/t (1.10 oz/t) Au over 1.55 metres
  • 14.69 g/t (0.43 oz/t) Au over 6.00 metres, including 103.97 g/t (3.03 oz/t) Au over 0.65 metres
  • 10.32 g/t (0.30 oz/t) Au over 9.60 metres, including 57.96 g/t (1.69 oz/t) Au over 0.90 metres
  • 10.90 g/t (0.24 oz/t) Au over 8.13 metres, including 46.93 g/t (1.37 oz/t) Au over 0.90 metres

 

Drill Plan Map

Table 1: Length weighted gold composites for drill holes BGM-15-005 through BGM-15-013.

HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T) AU (OZ/T) COMMENT
BGM-15-005 8.00 10.00 2.00 15.25 0.44 HWV
INCL 8.00 9.00 1.00 27.72 0.81 HWV
BGM-15-005 19.03 20.00 0.97 5.55 0.16 HWV
BGM-15-005 55.00 56.00 1.00 1.45 0.04 HWV
BGM-15-005 78.45 79.15 0.70 2.28 0.07 BCV
BGM-15-005 92.00 93.47 1.47 3.24 0.09 BCV
INCL 93.00 93.47 0.47 6.25 0.18 BCV
BGM-15-006 9.50 18.00 8.50 4.31 0.13 HWV
INCL 13.38 14.52 1.14 6.14 0.18 HWV
AND 17.00 18.00 1.00 7.56 0.22 HWV
BGM-15-006 74.30 76.70 2.40 10.14 0.30 BCV
INCL 75.00 75.78 0.78 10.20 0.30 BCV
AND 75.78 76.70 0.92 14.65 0.43 BCV
BGM-15-007 14.40 15.90 1.50 1.45 0.04 HWV
BGM-15-007 26.00 28.00 2.00 3.12 0.09 HWV
BGM-15-007 52.40 53.90 1.50 0.80 0.02 BCV
BGM-15-008 35.00 36.00 1.00 3.79 0.11 TC AREA
BGM-15-008 44.00 45.50 1.50 5.36 0.16 TC AREA
BGM-15-008 130.15 133.50 3.35 18.04 0.53 BCV
INCL 130.15 131.70 1.55 37.78 1.10 BCV
BGM-15-009 34.80 39.60 4.80 2.50 0.07 TC AREA
INCL 34.80 35.40 0.60 5.47 0.16 TC AREA
AND 36.00 36.70 0.70 7.90 0.23 TC AREA
BGM-15-009 44.00 45.50 1.50 4.05 0.12 TC AREA
BGM-15-009 47.60 48.30 0.70 7.91 0.23 TC AREA
BGM-15-010 15.50 17.00 1.50 9.05 0.26 TC AREA
BGM-15-010 38.00 44.00 6.00 14.69 0.43 TC AREA
INCL 38.00 39.50 1.50 5.48 0.16 TC AREA
AND 39.50 40.00 0.50 7.08 0.21 TC AREA
AND 42.70 43.35 0.65 103.97 3.03 TC AREA
AND 43.35 44.00 0.65 11.24 0.33 TC AREA
BGM-15-011 33.10 37.00 3.90 20.58 0.60 TC AREA
INCL 33.10 34.00 0.90 59.36 1.73 TC AREA
AND 35.30 35.80 0.50 15.44 0.45 TC AREA
AND 35.80 36.50 0.70 13.29 0.39 TC AREA
BGM-15-011 43.50 44.70 1.20 7.05 0.21 TC AREA
BGM-15-012 29.00 38.60 9.60 10.32 0.30 TC AREA
INCL 31.00 36.40 5.40 16.16 0.47 TC AREA
INCL 31.50 32.30 0.80 11.16 0.33 TC AREA
AND 32.30 33.60 1.30 13.81 0.40 TC AREA
AND 34.40 35.30 0.90 57.96 1.69 TC AREA
BGM-15-012 47.00 49.00 2.00 1.67 0.05 TC AREA
BGM-15-013 19.30 30.20 10.90 8.13 0.24 TC AREA
INCL 21.90 26.60 4.70 17.01 0.50 TC AREA
INCL 21.90 22.50 0.60 11.30 0.33 TC AREA
AND 23.30 23.90 0.60 9.01 0.26 TC AREA
AND 25.00 25.90 0.90 46.93 1.37 TC AREA
AND 25.90 26.60 0.70 34.46 1.01 TC AREA
BGM-15-013 37.60 38.10 0.50 3.85 0.11 TC AREA

 

Notes:

Core lengths represent 70-90% true widths. Rock not recovered by drilling was assigned zero grade and not included in the composites. Top cuts have not been applied to high grade assays. 1.0 ounces = 34.285 grams. BCV – BC Vein; HWV – Hanging Wall Vein.

 

Discussion of Results

Drill holes BGM-15-005 through BGM-15-007 tested the BL Horizon ~300 metres northwest of the BL open pit. Although no significant mineralisation was intersected in this select area of the horizon, a near surface, previously un-drilled hanging wall vein (HWV) set was encountered at the top of these holes and represents a new exploration target.

 

Cross Section – 300M Northwest of Bonanza Ledge Open Pit

The TC Area was targeted by BGM-15-008 through BGM-15-013 and is located ~100 metres north of the BL open pit. The TC mineralisation had very limited drilling performed in 2011 by previous operators, and is now defined by 2015 Phase I drilling as a series of sulphide bearing quartz veins striking at an oblique angle to the BCV. Further drilling for both of these areas is being planned to determine the extents of the mineralisation.

 

Cross Section – 100 M North of Bonanza Ledge Open Pit

 

Cross Section – 100 M North of Bonanza Ledge Open Pit

 

Additional Diamond Drill Rigs Ordered

Two additional drill rigs have been ordered from Geotech Drilling Services Limited and are expected to arrive on the project site by the end of August 2015. These drill rigs will be employed on Barkerville Mountain with the ultimate goal of drill defining the BCV to a vertical depth of -400 metres as well as testing previously un-drilled targets.

 

New Drilling Practices and Core Recovery

During the preliminary stages of the 2015 Phase I drilling campaign, it was observed that portions of the mineralised zones were not recovered by the drilling process. These intervals of lost core have been assigned zero gold grade. It has been ascertained that the high sulphide intervals were essentially “washed away” by the drilling process and hence not recovered in their entirety. In consultation with Geotech Drilling Services Limited, an industry standard, environmentally safe drilling additive is now being utilized in all holes and core recoveries have increased to greater than 95% through the mineralised sulphide zones.

 

Qualified Persons

Exploration activities at the Cariboo Gold Project are jointly administered on site by the Company’s Project Managers Maggie Layman, P.Geo. and Wanda Carter, P.Geo. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.

 

Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at the Company’s secure facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by Paul Geddes, P.Geo, Vice President Exploration.

 

Drill core samples are submitted to SGS Canada’s analytical facility in Burnaby, B.C. for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 1,000 grams is pulverized. Analysis for gold is by 50 g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 5ppb and upper limit of 10,000 ppb. Samples with gold assays greater than 10,000 ppb are re-analyzed using 50 g fire assay with gravimetric finish, as well as 1,000 g screen metallic fire assay. Samples are also analyzed using a 49 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

 

For further information on BGM Ltd., please contact:

Tom Obradovich
President & Chief Executive Officer
+1 416 361 2511
tobradovich@sympatico.ca

 

About BGM

The company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. BGM’s mineral tenures cover 1,164 square kilometres along a strike length of 60 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by BGM in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of this year with 91,489 tonnes of ore milled producing 25,464 ounces of gold. BGM has completed a number of drilling and exploration programs over the past 20 years and is currently compiling this data with all historical information in order develop geologic models which will assist new management and provide the framework to continue to explore the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.

Cautionary Statement on Forward -Looking Information

Neither the TSX Venture Exchange (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.




Kootenay Silver complete the first tranche of their private placement

Kootenay Silver Inc. {TSX.V: KTN} announces the closing of the first tranche of their recently announced private placement, raising just over CAD $1 million.

Management are anticipate the remaining allotment will be taken up in due course…….

 

VANCOUVER, Aug. 11, 2015 Kootenay Silver Inc. {TSX.V: KTN} is pleased to announce that, further to its press release dated July 16, 2015, it has closed the initial tranche of its non-brokered private placement and issued an aggregate of 3,586,500 units at a purchase price of $0.30 per Unit raising gross proceeds to the Company of $1,075,950.

 

The Company anticipates closing the balance of the Private Placement shortly and will provide an update in due course.

 

Each Unit consists of one common share (“Common Share”) and one transferable share purchase warrant (“Warrant”) of Kootenay. Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.55 until August 10, 2017.   Upon approval by the TSX Venture Exchange, cash finder’s fees to arm’s length parties totaling $7,110 and the issuance of 96,000 finders units (the “Finders Units”), have been paid on this portion of the Private Placement.  The Finders Units consist of one Common Share and one non-transferable common share purchase Warrant.

All securities issued in connection with the Private Placement are subject to a hold period which expires on December 11, 2015.

The net proceeds from the Private Placement will be used to finance additional work on Kootenay’s Promontorio property, which includes the new La Negra Breccia discovery, its other properties and for general working capital.

 

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

 

La Negra Silver Discovery

The La Negra Breccia prospect is situated approx. 6.5 kms north of Kootenay’s Promontorio silver mineral resource property in Sonora, Mexico and is contained within a 25 x 15 km mineralised corridor, the ‘Promontorio Mineral Belt.’ Initial exploration on La Negra included a successful trenching and surface sampling program that confirmed extensive silver mineralization over a large 100 to 200 meters by 500 meters area on surface. (See news releases from May 28th and June 5th, 2014 for more details). A follow up Phase I drill program on La Negra returned significant and consistent intervals of high grade, widespread silver mineralisation extending from surface to depth, confirming a substantial new silver discovery.

 

Results from a recent Phase II drilling program on La Negra have further confirmed the continuity of silver grades and the consistency of silver mineralization to depth within the core of the diatreme breccia. (See news releases from March 31st, April 30th and May 20th, 2015 for more details). This has set the stage for the advanced future development of La Negra and reinforces its future potential as a low-cost, open pittable silver resource. At present, drill results from the program are being compiled and collated in a 3D model showing the geologic controls and assay results. This compilation will be used to design the next drill phase, which is expected to be announced in the near future.

 

To view full results of the sampling and drill program on the La Negra property,

visit: www.kootenaysilver.com

The foregoing geological disclosure has been reviewed and verified by Kootenay’s CEO, James McDonald, P.Geo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. McDonald is a director of Kootenay.

 

About Kootenay Silver

Kootenay Silver Inc. is actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Its flagship property is the former producing Promontorio Silver mine in Sonora State, Mexico. Kootenay’s objective is to develop near term discoveries and long-term sustainable growth. Its management and technical team are proven professionals with extensive international experience in all aspects of mineral exploration, operations and venture capital markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new discoveries while maintaining minimal share dilution.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements:

The information in this news release has been prepared as at August 10, 2015.  Certain statements in this news release, referred to herein as “forward-looking statements”, constitute “forward-looking statements” under the provisions of Canadian provincial securities laws.  These statements can be identified by the use of words such as “expected”, “may”, “will” or similar terms.

 

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Kootenay as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies.  Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made.  Except as otherwise required by law, Kootenay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Kootenay’s expectations or any change in events, conditions or circumstances on which any such statement is based. More particularly, this release contains statements concerning the closing of the balance of the Private Placement and the commencement of the next phase of a drilling program on the La Negra property. Accordingly, there is a risk that the Private Placement will not be completely sold, completed within the anticipated time or at all, and that the drilling program will not be commenced or completed as currently contemplated.. 

 

SOURCE Kootenay Silver Inc.