Tony Barresi, VP of Exploration for Triumph Gold Corp $TIG $TIGCF Interview with Jay Taylor of VoiceAmerica Radio. Tony discusses highest grade mineralization from 2018 drill program at Freegold Mountain Project in Yukon.
dynaCERT TSX.V-DYA announced that Michael Christodoulou, the former President of Cummins Eastern Canada LP and Cummins Diesel of Canada, is joining the Advisory Board as a Business/Marketing Advisor.
Mr. Christodoulou has over 30 years of extensive experience and vast knowledge working with major North American trucking companies. He held the position of President and Principal of Cummins Eastern Canada LP for 15 years, Executive Director of PACCAR Business, Cummins Inc. and was President of Cummins Diesel of Canada for over seven years. Mr. Christodoulou has a superior track record within the trucking industry and has developed excellent industry affiliations with global transportation companies and all the major truck OEM’s.
Mr. Christodoulou was formerly on the Global Distributor Advisory Council for Cummins Power Generation, was the Chairman of the Canadian Association of Equipment Distributors, and the VP and Board Member of the Associated Equipment Dealers. He is a Member of the Canadian Trucking Alliance, and has been a member of the Ontario, Quebec and the Atlantic Provinces Trucking Associations. Mr. Christodoulou is a former member of Cummins Distribution Council and was the Co-Chair of Cummins Bus Council.
dynaCERT announces the receipt of $1 million from Mr. Christodoulou as a strategic partner in the business. This funding was a private placement of 1,176,471 units at a price of $0.85 per unit. Each unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant, with each whole warrant being exercisable into one Common Share at a price of $1.25 for a two-year period from the date of issuance. The warrants include an acceleration clause to the effect that if at any time after four months and one day following the issuance of the warrants, the closing trading price of the Common Shares on the TSX Venture Exchange (the “Exchange”) is greater than $2.00 per Common Share for a period of ten consecutive trading days, then dynaCERT may give notice to the holder of the warrants of its intention to force the exercise of the warrants, following which the holder thereof shall have a period of 30 days to exercise the warrants, failing which the warrants will automatically expire.
Triumph Gold TSXV.TIG commenced a 13,000 metre diamond drill program at its road accessible Freegold Mountain project in the Dawson Range, Yukon. The program will test several new drill targets identified during 2016 field exploration and data review. The 2016 work focused on identifying geological controls on mineralization at the Revenue and Nucleus porphyry deposits on the Freegold Mountain Property. These studies recognized an early stage of porphyry-style mineralization that was not targeted during past exploration. The work defined three new exploration targets, one each at Revenue and Nucleus, and a newly identified porphyry target at the Generation Zone.
- Drilling is now underway at the Generation Zone, a newly recognized porphyry Cu-Au system. The identification of high density stockwork with multiple vein events, high temperature alteration, and associated copper and gold mineralization indicates that the Generation Zone represents a high-temperature core to a porphyry Cu-Au system. Triumph plans 2,000 metres of drilling to test this zone.
- A second drill will be mobilized within a week and begin drilling at the Revenue and adjacent Blue Sky Zones. At Revenue, past exploration focused on the mineralized margin of an approximately 1 km long elliptical diatreme.
- Other areas that will be drill tested include the Nucleus Zone (4,000m) and a soil and geophysical anomaly that extends 2 km along strike between the Nucleus and Revenue deposit areas (2,000 m).
Go to www.triumphgoldcorp.com for full news release dated June 7, 2017
- Revenue of $1,380,350 on the delivery of 215 HG1 units
- Gross profit of $653,502
- Gross margin of 47%
- Net operating income before stock based compensation of $199,188
- Net income of $482,175
- Cash balance at the end of Q1 of $1,093,944
Robert Maier, COO of dynaCERT, states, “We are executing well and gaining traction as we focus on the foundation of strong distributor relationships. We are expanding into other markets for our suite of HydraGENTM products.“
“I am pleased with our first quarter results as we commenced commercial sales,” said Jim Payne, President and CEO of dynaCERT. “We are strengthening our management team and support for sales and product installation. The growth potential for sales is both exciting and challenging as we transform from an R&D company into a sales and manufacturing organization.”
Triumph intends to execute a $4 million exploration program on the Freegold Mountain property, as well as smaller reconnaissance mapping and sampling projects on Tad/Toro and Severance properties in Yukon and Andalusite Peak in northern British Columbia.
Exploration on the Freegold Mountain property will commence in late May and extend until early October. The work will include approximately 13,000 m of diamond drilling, seven line km of trenching, geological mapping, prospecting and a soil geochemistry survey.
Drilling will be focused on four areas:
- Nucleus (4,000 m). The Nucleus deposit involves several superimposed deposit types and contains 1.3 million Ozs gold within 74.7 million tonnes in the indicated category (0.30 g/t AuEq1 cut-off). 2017 exploration drilling will comprise broad step outs that target areas prospective for extensions of one or more of the deposit types.
- Revenue and the adjacent Blue Sky Zone (5,000 m). Revenue is a porphyry style deposit that contains 1.0 million Ozs gold, 8.98 million Ozs Ag, and 241 million lbs copper within 80.8 million tonnes in the inferred category (0.5 g/t AuEq1 cut-off). 2017 drilling near Revenue will focus on the Blue Sky Zone, a 2.3 square km area to the east of Revenue, with coincident soil and chargeability anomalies that are adjacent to and along strike of some of the longest and best drill intersection within the main Revenue Zone (e.g. 16% Cu, 0.66 g/t Au over 196.02 m [RVD11-019 368.88 – 476.94m]).
- The newly discovered Generation Zone (2,000 m). The Generation zone is a porphyry copper gold target identified in 2016. It consists of strongly altered granodiorite exposed over 80 meters that contains a high density of mineralized quartz +/- magnetite veins. The mineralized outcrops are centered approximately 150 meters above the modeled depth of a strong 2.9 X 1.3 km chargeability high.
- A soil and geophysical anomaly that extends 2 km along strike between the Nucleus and Revenue deposit areas (2,000 m).
Drilling at the Nucleus and Revenue deposit areas will constitute significant step outs, up to 1.5 km from the current resource areas, to test new exploration targets developed during a thorough data and drill core review conducted in 2016.
Exploration at the property’s third resource area, the Tinta polymetallic vein deposit, will include broadening of the existing soil geochemistry survey area with approximately 1,200 samples over 7 km2. This will complement the ground magnetic and VLF-EM survey that was conducted in 2016, which defined several strong conductors that parallel the Tinta vein deposit and are coincident with Au, Ag, Pb, Bi in soil anomalies over the limited existing soil grid. Once results are obtained, trenching will be conducted over coincident anomalies.
A number of less developed prospects on the Freegold Mountain property, including the Nitro, Castle, and Stoddart porphyry prospects and Goldy, Ridge, and Irene epithermal gold prospects, will be the subject of focused data, drill core, and field studies/reviews by Triumph’s senior geologists in order to evaluate exploration potential.
NI 43-101 Disclosure
- AuEq is based on metal prices of $1,250/oz for gold, US$22.00/oz for silver, US$2.90/lb for copper and US$10.00/lb for molybdenum. The AuEq calculations reflect gross metal content and do not apply any adjustment factors for difference in metallurgical recoveries of gold, copper, silver and molybdenum.
- Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into mineable reserves once economic considerations are applied.
- The above mineral resource estimates have been prepared in compliance with the standards of NI 43-101 by J. Campbell, B.Sc., P. Geo., A. Armitage, Ph.D., P. Geol., A. Sexton, M.Sc., P. Geo., and D. Studd, M.Sc., P. Geo. of GeoVector Management Inc.
The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo, Vice President Exploration of the company and qualified person for the purposes of National Instrument 43-101 — Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators.
Subject to regulatory approval, the Company has granted 5,900,000 incentive stock options to officers, directors, employees and consultants at a price of $0.40 per share for a period of five years from grant.
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 has the option to acquire up to an 80 percent interest in the Copperlode Property by making certain payments and share issuances. The Copperlode Property consists of four mining claims comprising 31 claim units for a total area of approximately 496 hectares or 1,225 acres. Frontline holds the claims under option from a vendor. The Copperlode Property hosts two mineralized zones with historical mineral resources based on drilling by Copperlode Mines Ltd. and Rexdale Mines Ltd. in the 1960s and 1970s:
The Copperlode “E” Zone has a historical resource of 145,000 tonnes with reported grades of 8.28% zinc, 1.02% copper and 24 grams per tonne silver. The Copperlode “D” Zone has a historical resource of 32,600 tonnes reported to average 7.58% zinc and 0.26% copper. These historical resources do not comply with current standards as spelled out in National Instrument 43-101. Insufficient work has been done on these zones by a qualified person to determine whether 43-101 compliant mineral resources exist.
Other mineralized zones on the Copperlode Property, with selected diamond drill intercepts, are:
- Copperlode “B” zone, 6.3 metres @ 2.50% zinc and 1.68% copper
- Copperlode “C” zone, 1.5 metres @ 0.21% zinc and 6.02% copper
- Hornet Zone, 6.6 metres @ 7.56% zinc and 0.08% copper, also 5.03 metres @ 4.07% zinc and 1.13% copper. The Hornet zone was discovered by Noranda Exploration in 1997; it is open at depth and along strike.
Pistol Bay $PST closed a non-brokered private placement financing for gross proceeds of $336,600, issuing 3,960,000 units at a price of $0.085 per unit, each unit comprising of one common share and one transferable share purchase warrant, with each warrant entitling the holder to purchase one additional common share for a period of 18 months at a price of $0.12.
The Company has paid finder’s fees of a total of $32,810, 173,000 common shares, and an aggregate 223,000 finder’s warrants. Pistol Bay will use the proceeds of the private placement for exploration expenditures and general working capital.
The Company will extend the expiry date of 7,632,500 common share purchase warrants that were issued on August 29, 2016. The old expiry date of August 29, 2017 will be extended to August 29, 2018.