The Venture outperformed the broader averages last week, setting the tone for what should be a much stronger August vs. July…
Learn more in today’s Week In Review And A Look Ahead!
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It looks like a wild start for rmk, premarket eye opener…
Comment by Laddy — August 3, 2021 @ 5:34 am
Stelmine Discovers Large Mineralized Trend at Mercator
A large trend like this, 100 km west of where the last drill hole at the company’s Courcy Property returned 42 m @ 4.2 g/t Au, including 1 m @ 101 g/t Au, speaks volumes…this story definitely has legs to it…
QUÉBEC CITY, Aug. 03, 2021 (GLOBE NEWSWIRE) — Stelmine Canada (TSXV: STH) (“Stelmine” or the “Company”) is pleased to announce the discovery of a potentially large gold system at its Mercator Property spanning 389 sq. km in Quebec’s newest gold district (Caniapiscau) east of James Bay and the Eleonore mine. The Phase 1 summer 2021 exploration program, now in progress, includes geophysics and extensive sampling in preparation for potential maiden drilling during this second half of 2021.
Mercator is one of several district-scale claim blocks comprising 815 sq. km, owned 100% by the Company, in the under-explored Opinaca metasedimentary basin including the Courcy Property (100 km east of Mercator) where the last drill hole (completed by SOQUEM in 2006) returned a 42-meter core interval of shallow mineralization grading 4.2 g/t, including 1 meter at 101 g/t Au. Follow-up drilling at Courcy is also planned for the second half of the year.
Mercator Highlights:
– Never previously systematically explored, Mercator displays characteristics of a large-scale gold system with mineralization discovered in sediments and gabbros at surface along a 1.9 km trend of faulted and folded iron formations, open for significant expansion to the northeast and southwest;
– This minimum 1.9 km trend features a prominent gossan on the slopes of a hill where a 400-metre wide shallow dipping mineralized zone occurs within a magnetic high;
– Gold assays obtained to date reach up to 9.27 g/t Au with more than 12% of the 199 collected rock samples last year returning gold values ≥ 1 g/t, including a 9.4 m channel yielding 2.11 g/t Au;
– Hydrothermal fluid flow may have originated from an interpreted major thrust fault in the area;
– Preliminary analysis of a just-completed high resolution geophysics survey reveals a succession of magnetic highs extending NE/SW for 21 km, creating an impressive structural corridor considered highly favorable for hosting new discoveries.
Stelmine CEO Isabelle Proulx stated, “Our geological team is excited by the scale of Mercator and the potential for strong grades, as demonstrated by first-ever systematic sampling of this area in addition to historic drill results to the east at Courcy. Field crews continue their work and interpretations are ongoing. We look forward to updating investors again shortly.”
June 2021 Private Placement Finder’s Fees Correction
Stelmine wishes to make a correction to the news release dated June 11, 2021, regarding finder’s fees. The last sentence of the final paragraph should have read, “In connection with this placement, the Company will pay finder’s fees of $25,048 and will issue 78,338 finder’s warrants.”
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Michel Boily, P.Geo., Ph.D. Mr. Boily is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Stelmine Canada
Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context has similarities to the Eleonore mine. Stelmine has 100% ownership of 1,574 claims or 815 km² in this part of northern Quebec, highlighted by the Courcy and Mercator Projects.
Forward-looking statements
Certain information in this press release may contain forward-looking statements, such as statements regarding the expected closing of and the anticipated use of the proceeds from the Offering, acquisition and expansion plans, availability of quality acquisition opportunities, and growth of the Company. This information is based on current expectations and assumptions (including assumptions in connection with obtaining all necessary approvals for the Offering and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include those relating to the ability to complete the Offering on the terms described above. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at http://www.sedar.com.
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
For further information, contact:
Isabelle Proulx, President and CEO
Email: [email protected]
Tel: 418-626-6333
Follow us on:www.Stelmine.com
https://twitter.com/Stelmine1
https://www.facebook.com/StelmineCanada/
https://ca.linkedin.com/company/stelmine-canada-ltd
Comment by Jon - BMR — August 3, 2021 @ 7:40 am
Another big step forward for rmk with latest nr.
Comment by Laddy — August 3, 2021 @ 2:09 pm
Very close to a game-changing event now, Laddy.
Comment by Jon - BMR — August 3, 2021 @ 4:50 pm
Jon
RMK : What do you mean exactly by game changing event? The name change?
Thank you..
Comment by GREGH — August 3, 2021 @ 5:24 pm
Yes, Gregh, the name change will trigger a series of events and will cleanly position the company for a buyout by Compass or private equity. Will expand on this more in the am.
Comment by Jon - BMR — August 3, 2021 @ 7:13 pm
Big ADP jobs miss this morning gives Gold a nice lift…up $20 at $1,830 as of 6:00 am Pacific, once again testing key resistance…
Comment by Jon - BMR — August 4, 2021 @ 6:16 am
Interesting news from Doubleview this morning…stock ran up hard the last few weeks, so a sell on news after the halt could take it down to the EMA-20/EMA-50 where there should be strong technical support…
DOUBLEVIEW DRILLS 907.8 METER POLYMETALLIC INTERSECT AT LISLE DEPOSIT AND ANNOUNCES “O’ZONE” DISCOVERY WITH 760.4 METER INTERSECT 1.5 KM FROM THE LISLE ZONE
Doubleview Gold Corp. has drilled the longest mineralization to date at the Lisle deposit in diamond drill hole H036 and has discovered the O’Zone, in step-out diamond drill hole H037 approximately 1.5 kilometres (km) west of the Lisle deposit at the company’s 100-per-cent-owned HAT gold-rich copper porphyry property, located in the Golden Triangle of northwestern British Columbia.
Drill hole H036 intersected 907.8 meters mineralization of 28.64 g/t Sc and 0.41 g/t AuEq (0.31% CuEq) including 563.4 meters 26.20 g/t Sc and 0.50 g/t AuEq (0.37% CuEq). Drill hole H037 intersected 133.3 meters 32.51 g/t Sc and 0.35 g/t AuEq (0.26% CuEq). The HAT property is now recognized as Polymetallic Porphyry Deposit containing Copper (Cu), Gold (Au), Cobalt (Co), Palladium (Pd) and Scandium (Sc). Metallurgical studies for the full spectrum and recovery of the critical metals is underway.
Drilling Highlights:”Lisle Zone” drill hole H036 intersected porphyry-style mineralization for entire length of the hole (972.3m)”O’Zone” Inaugural drill hole H037, situated approximately 1.5 km west of the Lisle Zone, intersected porphyry-style mineralization in an area that was previously unexplored by drillingBoth drill holes reached intended targets and intersected long sections of strong copper, gold, cobalt, silver, palladium and scandium mineralization.
Company president and CEO, Farshad Shirvani, stated, “We are extremely encouraged by the significant intercept in drill hole H036, the new discovery of the O’Zone in drill hole H037 and the potential for the economic recovery of Scandium.”
Mr. Shirvani stated further, “Having recently signed a communication and engagement agreement with the Tahltan Central Government (“TCG”), the Company has begun engagement with the TCG’s Employment and Contracting Department as we prepare for our summer/fall drill program at HAT. With in-excess of $5 million dollars in the treasury, Doubleview is fully funded to complete its next phase of drilling, which will be designed to expand on the O’Zone discovery and further delineate the Lisle deposit.”
Comment by Jon - BMR — August 5, 2021 @ 6:33 am
Latest till samples from LAB’s Kingsway Project suggest sources other than the Big Vein, 700 m NE and 3 km northeast along the Appleton Fault Zone…this kind of sampling is going to be key in building out this discovery…
Labrador Gold Announces Till Results Including 311 Mostly Pristine Gold Grains
TORONTO, Aug. 05, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V: LAB | OTCQX: NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the results of a till sampling program recently completed along the Appleton Fault Zone on its 100% controlled Kingsway project Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District.
Highlights from the sampling program include:
– Results of 59 till samples taken over the southern Kingsway property show contained gold grains ranging from 0 to 311 grains. Twelve of the 59 samples contain more than 50 gold grains, of which four contain more than 100 grains.
– A sample containing 165 gold grains, of which 153 (93%) are pristine, occurs just down ice of Big Vein which is the likely source of the grains in this till sample.
– Two samples containing 165 (96% pristine) and 311 (83% pristine) gold grains occur approximately 700 metres northeast (down ice) of Big Vein. The large number of pristine grains in these samples indicates a short transport distance suggesting a source other than Big Vein closer to the sample locations.
– Similarly, a sample containing 101 gold grains, 28 of which are pristine, occurs a further 2.3km to the northeast, again suggesting a separate source.
The results from these till samples, together with anomalous soil geochemistry from the 2020 sampling survey, demonstrate the potential for the discovery of further gold mineralization along the Appleton Fault Zone.
“We are very excited by the possibility of additional gold occurrences to the northeast of Big Vein along the Appleton Fault Zone demonstrated by these sample results,” said Roger Moss, President and CEO of Labrador Gold. “While our primary focus remains to drill the Big Vein target and find more high-grade gold mineralization, our field crews will follow up these till results in the coming weeks to generate targets for drilling later this year.”
Figure 1. Results of till sampling along the Appleton Fault Zone (AFZ).
https://www.globenewswire.com/NewsRoom/AttachmentNg/8de89de5-83a2-4239-9763-4de2d9e99d7f
Labrador Gold Webinar
The Company is pleased to announce that President and CEO Roger Moss will be presenting an update from the Kingsway project in a live webinar taking place on Thursday, August 12th, 2021, at 1 p.m. PT / 4 p.m. ET. The webinar will be hosted by Focus Communications Investor Relations (“FCIR”) and Cory Fleck of the Korelin Economics Report. Participants are encouraged to submit any questions for the company prior to the event by emailing FCIR at [email protected].
EVENT DETAILS
Date: Thursday, August 12th
Time: 1pm PT / 4pm ET
Registration: https://event.webinarjam.com/channel/LAB
QA/QC
Till samples comprised of 10kg of material were collected, placed in plastic bags and sealed with single use ties. Samples were shipped by transport truck in plastic totes to Overburden Drilling Management (ODM) of Nepean, Ontario for processing. ODM uses custom gravity concentration including shaking tables and micro-panning of the resulting heavy mineral concentrates to recover gold grains from the samples. Any gold grains present are extracted for microscopic study to determine the morphology and dimensions of the grains.
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The property is along strike to the northeast of New Found Gold’s discovery of 92.86 g/t Au over 19.0 metres on their Queensway property. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property). In early July 2020, the Company signed an option agreement to acquire a third license to add to the property package which now covers approximately 77 km2. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity, and abundant local water.
The Hopedale gold property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Initial work by Labrador Gold has identified a 3 kilometre mineralized section of the northern portion of the belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold.
The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the exploration to date show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend.
The Company has 150,577,206 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact:
Comment by Jon - BMR — August 5, 2021 @ 8:18 am
Gold could have gone up $30 or down $30 today on jobs report; jobs number comes in higher than expected at 943,000 (contradicting ADP report)…dollar and treasury yields push higher, Gold down $30 around $1,775…Dow futures push higher…
Comment by Jon - BMR — August 6, 2021 @ 6:17 am