#PistolBayMining (TSX.V-PST) has retained MPH Consulting to carry out a review of all historical geophysical surveys on the Dixie zinc-copper-silver projects, in preparation for a planned fall diamond drill program. The Dixie projects are in the Confederation Lake greenstone belt, 35 km southeast of Red Lake, Ontario. the Confederation Lake belt is known for its numerous volcanogenic massive sulphide (VMS) deposits and occurrences.
- Between 1977 and 2004, Selco Ltd., BP Minerals, Noranda and Tribute Minerals (now Aucrest Gold) carried out numerous ground geophysical surveys including magnetic surveying, horizontal loop electromagnetic, large-loop pulse EM surveys and a Titan 24 deep earth-imaging survey that comprises DCIP and magneto-telluric surveys, including a borehole probe. The Titan 24 survey defined a new blind anomaly that does not come to surface below the Dixie 19 zone.
- A second, much larger and deeper conductive anomaly was located approximately coincident with, but below the Dixie 20 anomaly. The conductive body has an irregular shape and reported to extend over an east-west length of 1,800m.
- Because of the complexity of the historical data, the company has requested that a critical review of all of the past geophysical surveys that will lead to prioritizing targets for future exploratory drilling be carried out by Jeremy S. Brett, MSc. PGeo, senior geophysical consultant at MPH Consulting.
Grizzly Discoveries (TSX.V-GZD) (OTCBB-GZDIF) has closed the first tranche of their private placement issuing 2,794,680 units at a price of $0.05 per unit for gross proceeds of $139,734. Each unit consists of one common share and one non-transferable warrant. Each warrant entitles the holder to acquire one additional shares at an exercise price of $0.075 per share.
200,000 of the 2,794,680 units sold were purchased by insiders of the Company. No commissions or finders fees were paid. The proceeds will be used for general working capital.
#Kinross has completed its 2015 work program on the 131 claims that form a contiguous package totalling approximately 27,345 ha, representing one third of Grizzly’s land at Greenwood. Kinross can earn a 75% interest on optioned land by incurring US$3 million in exploration expenditures over a five year period.
Five target area were selected – Attwood-Overlander, March Creek, Kerr Creek, Bruce Creek and Midway – to assess and prioritize targets on the land package for further work in 2016. Kinross uncovered previously unrecognized epithermal quartz veining and precious metal mineralization at the Attwood-Overlander area. Rock grab samples from the exposed epithermal veins that range from 0.75 to 2 m in width returned up to 29.8 g/t gold. This is considered a high priority for follow-up exploration in 2016.
Rock and soil sampling at March Creek, Bruce Creek and Kerr Creek have returned anomalous precious metals and epithermal indicators and warrant follow-up exploration in 2016. The geochemical results at the Midway Target may indicate the presence of an epithermal overprint and further exploration is recommended for 2016.
Kinross has indicated that the initial objective for the 2016 program will be to continue to evaluate the potential of the various target areas, working up specific targets to move forward using detailed mapping along with geologic and deposit models as a guide as well as many of the regional data sets already completed by Grizzly to move certain targets to a drill testing stage, potentially in 2016. Many of the target areas on the property are currently at the generative stage, with only a few geophysical and/or geochemical based targets having been drilled by Grizzly to date.
Falcon has closed a first tranche of the previously announced $600,000 private placement for gross proceeds of $191,225 and issued 2,549,666 Units priced at $0.075 per Unit. Each Unit is one common share and 1/2 warrant, priced at $0.10 per share for the first 12 months or at a price of $0.20 per share for the 12 months thereafter.
Proceeds from this financing will be used for exploration and development work on the New York Canyon project and for general corporate purposes.
Stephen Wilkinson, CEO of Falcon Gold CVE:FG, was interviewed by ABN Newswire at the PDAC 2015 in Toronto.
Click here to watch the video: Stephen Wilkinson Interview with ABN Newswire
Grizzly Discoveries Inc. (TSX-V: GZD; OTCQX: GZDIF; Frankfurt: G6H) is pleased to provide a link to an interview with COO Ian Lambert conducted by ABN Newswire at PDAC 2015 in Toronto.
Click here to view the video: COO Ian Lambert Speaks with ABN Newswire
Grizzly continues to pursue joint ventures, property options, and financing opportunities, to be positioned to take advantage of the inevitable recovery of the natural resources sector.
Falcon Gold (CVE:FG) announced a non-brokered private placement of up to 8M units priced at $0.075 per Unit for total gross proceeds of $600,000. Each unit will consist of one common share and one-half warrant priced at $0.10 per share for the first 12 months and $.020 per share for the 12 months thereafter.
Proceeds will be used to advance its exploration and development work on the New York Canyon project, continued exploration activities on its Washington silver project, and general corporate purposes.
To view an updated Corporate Presentation that includes preliminary 3-D modeling and illustrated drillhole data, visit our website at: www.falcongold.ca
Although the attendance was down from last year’s PDAC, the quality of companies exhibiting and the attendees were of significance. Grizzly Discoveries (TSX.V-GZD) has three assets and all three were of interest to investors. Representatives from numerous mid-tier to major mining companies were inquiring about the gold/copper/silver BC properties given the politically stable jurisdiction and historical mining and mining friendly area.
I find that even though we are in a down-turned market, it is always of benefit to exhibit and/or be present at the PDAC. You just never know what will come from who you meet there.
Metanor Resources (TSX.V-MTO) produced 3,425 ounces of gold during the month of January, 2015.
A total of 21,413 tonnes of ore, at a feed grade of 5.18 g/t were processed during the month with a 96.1% recovery rate.
Metanor Resources TSX.V-MTO released its financial results for the quarter and year ended June 30, 2014. Below are Q4 2014 Highlights:
Q4 2014 Highlights
* Gold sales of 12,468 ounces on gold production of 13,083 ounces.
* Total of $16,523,725 in revenues from gold sales.
* Net Income of $ 1,078,441 for the quarter.
* Milled 61,905 tonnes of ore at a feed grade of 6.8 g/T and a recovery of 96.9%.
*Cash Cost of $873 per ounce sold in Q4 (US$786/oz at an exchange rate of US$0.90/CA$1.00).
* Sustaining cost of CND$1,051 per ounce sold (US$946/oz using an exchange rate of US$0.90/CND$1.00).
* All-In cost of $1,123 per ounce sold in Q4 (US$ 1,010/oz at an exchange rate of US$0.90/CA$1.00).
Full-Year 2014 Highlights
* Total of $38,488,620 in revenues from gold sales.
* Net loss of $2,875,391 for the year.
* Cash Cost of $908 per ounce sold(US$817/oz at an exchange rate of US$0.90/CA$1.00).
* Sustaining cost of CND$1,071 per ounce sold (US$964/oz using an exchange rate of US$0.90/CND$1.00).
* All-In cost of $1,195 per ounce sold (US$ 1,076/oz at an exchange rate of US$0.90/CA$1.00).
Go to www.metanor.ca for full news release on financial reporting for this period.
Metanor continues to develop new drifts to the west at the Bachelor Mine and will continue the diamond drilling in the coming months to eventually add new resources and reserves.