dynaCERT announced the collaboration with the Northwest Territory Power Corp. in Yellowknife, NT in a fuel savings and emission reduction pilot project located in Deline, NT. Delines is located on the southwest share of Great Bear Lake, about 400 km northwest of Yellowknife. Deline is only serviced via aircraft and winter ice roads. The NTPC operate 3,500 diesel power generation units in remote villages and communities across the Territory.
The dynaCERT-NTCP project, at this important initial stage, consists of the sale, installation and commissioning of four dynaCERT HG1 units onto three stationary generator units that in turn are responsible for producing all of the electricity in the village of Deline. One stationary generator unit will have two HG1 units. The NTPC engineering team has worked closely with the dynaCERT engineers to design this specific application for the community to align with NTPC’s stated goal of reducing their reliance on fossil fuels.
Robert Maier, COO of dynaCERT, states, “NTPC continues to work hard at the leading technological edge to improve the lives of the people they serve. We are pleased that our HydraGENTM technology is part of this pilot project opportunity to lower operating costs for NTPC and improve the environment for northern communities.”
Jim Payne, President & CEO of dynaCERT, states, “We are very pleased to work with NTPC and their communities. With Robert Maier’s managerial and technical leadership, dynaCERT continues to develop new applications and enter varied markets for its HG1 units, not just in trucking but also in remote location power generation. Our engineering creativity, supported by our ongoing commitment to R&D, is rapidly advancing our Company in the diverse world of diesel uses in furtherance of our corporate strategy.”
Pistol Bay expanded the upcoming VTEM airborne electromagnetic and magnetic survey to cover almost twice the area of the original survey plan. Geotech Limited is contracted to survey the 40 km length of the Confederation Lake greenstone belt, southeast of Red Lake, Ontario.
With a larger loop, more power and better signal-to-noise resolution than earlier airborne electromagnetic systems, the current version of VTEM™, known as VTEM™ Plus, is able to resolve conductors at significantly greater depths than any previous airborne system. By flying a survey over large areas of favourable geology, Pistol Bay will be exploring a depth slice that has only been investigated in the past by large-loop ground EM systems over very limited areas. Target definition will be materially assisted by two recently acquired data sets. A whole-rock geochemical database with almost 7,000 analyses was inherited from Noranda Exploration by AurCrest Gold Inc. and delivered to Pistol Bay as part of the AurCrest Gold property acquisition (see Pistol Bay news release January 18, 2017). As well, a data set of Selco drill results, many of which were never in the public domain was supplied by the vendor of the Joy North property (see Pistol Bay news release February 22, 2017).
Pistol Bay $PST has optioned two additional claim groups in the Confederation Lake greenstone belt, Ontario which brings their land position in this belt to approximately 9,450 ha over a 53 km length of favourable volcanic geology.
The two claim groups are called Lucky 7 and Moth groups. The Lucky 7 covers a number of mineralized zones which adjoin the Garnet Lake and Garnet East claim groups. A copper-gold sulphide zone, which apparently grades into a siliceous gold zone at its eastern end, was stripped and drill tested in 2002 by Kings Bay Gold Corp. A zone of massive to disseminated sulphides has been trenched but apparently never drilled.
The Moth group of 10 claims comprises 85 units over 1,360 ha and covers a 5.5 km length of favourable geology and its north boundary is only 2 km from former producing South Bay mine.The area was extensively explored between 1970 and the mid 1990s, with at least 14 diamond drill holes. Widespread hydrothermal alteration was noted and there were numerous indications of zinc and/or copper mineralization.
Pistol Bay closed a non-brokered private placement financing for total gross proceeds of $548,436.89, issuing 5,566,126 NFT units at a price of $0.07 per NFT unit and 1,764,534 FT unit at a price of $0.09 per FT unit. Gross hard dollars raised is $389,628.83 and FT dollars is $158,808.06.
The FT units are one common share and 1/2 share purchase warrant with each whole warrant priced at $0.15 for a period of up to 18 months.
Finder’s fees of $9,580 were paid and 50,000 finder’s warrants issued.
dynaCERT has extended the formal strategic Voluntary Lock-Up Agreement and increased from 55M shares to over 72M shares. The extended lock-up period is to July 31, 2017.
Ms. Yumey Fernandez, CFO & Corporate Secretary, has resigned due to personal reasons. Mr. Terrence MacDonald, CPA, CA has been appointed the new CFO & Corporate Secretary. Mr. Khoa Tran, B.A., has joined the dynaCERT team as the Director of Finance.
dynaCERT has received approval from The Depository Trust Company (“DTC”) of New York, NY and is now DTC eligible under the symbol DYFSF.
Pistol Bay Mining Inc. TSXV-PST announced that Jody Dahrouge, B.Sc., Sp.C., P.Geol., has joined their Advisory Board.
Mr. Dahrouge is a professional geologist with over 25 years of experience in Canada and internationally, and has a successful background in base metals, industrial minerals, rare metals and uranium exploration.
Since 1998, Mr. Dahrouge has been the President of Dahrouge Geological Consulting Ltd., a geological services company that provides consulting services to a broad range of public and private exploration and mining companies. He is a professional geologist (Alberta) and holds Bachelor of Science degrees in geology and computing science, both from the University of Alberta. Mr. Dahrouge has been involved in all aspects of mineral exploration and development for a wide variety of commodities worldwide.
Until September 2007, Mr. Dahrouge was President and COO of Fission Energy Corp. (“Fission”), and played a key role in the acquisition of several of Fission’s key exploration properties, including Waterbury Lake, Patterson Lake and Patterson Lake South (“PLS”). Two very significant uranium occurrences were eventually discovered at those projects, including the J-Zone at Waterbury Lake, and the Triple R uranium deposit at PLS. Mr. Dahrouge has been a director and VP Exploration of Commerce Resources Corp. since 2000.
dynaCERT (TSXV.DYA) (OTCQB.DYFSF) has announced purchase orders for 276 HydraGenTM units exceeding $1.8M. There are additional sales pending final documentation, deposits and/or lease approvals.
dynaCERT has seven approved dealer agreements covering Ontario, Quebec, Western Canada and the Northwest Territories, as well as their sales partners throughout the United States.
The company is now receiving parts and preparing for the next 500 unit production run as they continue to ramp up for expected growth.
Rio Tinto Exploration Canada Inc. (”RTECI” or “Rio Tinto”) has informed Pistol Bay that is continuing with its exploration program on the 2,500-acre (1016 hectares) C5 uranium property in the Athabasca Basin, northern Saskatchewan.
Rio Tinto intends to drill between 4 and 6 diamond drill holes for a program total of approximately 2,600 metres, targeting uranium mineralization at the unconformity between the Athabasca Basin sediments and the older basement rocks, and in the basement itself. The C5 property adjoins the Wheeler River property, controlled by Denison Mines Corp. It lies 4.5 kilometres north of the Phoenix uranium deposit, 5 kilometres northeast of the Gryphon uranium deposit, and 2.6 kilometres northeast of the 489 Uranium Zone.
The C5 property, together with the C4 and C6 claims, is under option to Rio Tinto, which has earned a 75% interest, and has previously announced its intention to exercise the further option to acquire 100% interest by paying Pistol Bay C$5,000,000 within 5 years of December 31st 2014 and granting Pistol Bay a 5% net profits interest (see Pistol Bay news release of February 16th, 2015). Rio Tinto has, to date, completed 12 diamond drill holes totalling 6,104 metres on the C5 property and carried out a gravity survey and a DC resistivity. The 2017 diamond drilling program is scheduled to commence on January 20th.
The C4, C5 and C6 properties are road-accessible, an important feature that allows exploration funds to be used much more effectively than more remote, fly-in projects. The 75-kilometre all-weather haul road from the McArthur River mine to Cameco’s Key Lake mine/mill passes approximately 5 kilometres from the properties, and there is a network of bush roads or trails that can be used by 4-wheel drive vehicles.
see: www.pistolbaymining.com for complete news release
Pistol Bay Mining (TSX.V-PST) (Frankfurt: OQS2) has received approval from the TSX Venture Exchange to acquire from AurCrest all the mining claims held by AurCrest in the Confederation Lake greenstone belt southeast of Red Lake, Ontario. TheTSXV approval requires Pistol Bay to file an NI-43-101 compliant technical report related to the Arrow Zone of the Confederation Lake Property by mid-March 2017.
Mr. Desjardins, President of Pistol Bay, stated, “Pistol Bay is a major land holder in a very prolifically mineralized VMS-rich belt. Our holdings include the largest zinc-copper-silver deposit in the area, the second-largest VMS deposit remaining (Fredart Lake Property), and a portfolio of exploration targets ready for follow up drilling. Pistol Bay is engaged in compiling data and re-appraising the AurCrest property with a view to planning an aggressive exploration program that will generate new drill targets, as well as follow up existing target areas and known deposits.”
Under the terms of the Agreement, Pistol Bay has the option to acquire a 100% interest in the AurCrest properties by paying AurCrest an aggregate of $250,000 and issuing an aggregate of 5 million common shares over four years with an initial payment of $25,000 and the issuance of 1 million common shares on closing, the payment of a further $25,000 within 90 days following closing and the payment of $50,000 and the issuance of 1 million common shares on each of the four anniversaries following closing. Each of the AurCrest properties is subject to a 2% net smelter returns royalty in favour of third parties.
Pistol Bay Mining (TSX.V-PST) has closed the first tranche of its financing previously announced October 25, 2016 and amended November 25, 2016.
2,710,000 non flow-through units at $0.07 for $189,700. One share and one full warrant priced at $0.12 for 18 months.
135,000 flow-through units at $0.09 for gross proceeds of $12,150. One share and one half warrant priced at $0.15 for 18 months.
The proceeds of the private placement will be used for general working capital and exploration on the company’s mineral properties.