Welcome to our roundup of financing, exploration, and development stories on Theassay.com over the last seven days. To keep up to date with all the latest headlines, subscribe to our weekly newsletter.
Financing and M&A
To kick off this weeks’ roundup, we heard that Cerrado Gold Inc. (TSXV: CERT) and Voyager Metals (TSXV: VONE) have entered into a definitive agreement pursuant to which Cerrado will acquire all the issued and outstanding shares which are not already owned by the company by way of a plan of arrangement under Business Corporations Act. Upon completion of the arrangement, Cerrado will, indirectly through a wholly owned subsidiary, own a 100% interest in the Mont Sorcier Iron and Vanadium project located near Chibougamou, Quebec.
Mark Brennan, CEO and co-chairman of the company, commented, “We continue to see strong production growth at our MDN operation, and we are very confident in delivering a strong feasibility study by the end of May for MDC.”
Kuniko (ASX: KNI) acquired options over three prospective lithium projects in Canada’s prime lithium district of James Bay, Quebec – Fraser, Mia North, and Nemaska South.
The Fraser Lithium Project covers 150km2 with mapped pegmatites containing spodumene. The Fraser Lithium Project is located southwest of Winsome Resources’ Cancet Lithium Project, west of Patriot Battery Metal’s Corvette Lithium Project and northeast of Allkem’s James Bay Lithium Project.
Lahontan Gold Corp. (TSXV: LG | OTCQB: LGCXF) has closed a non-brokered private placement through the issuance of 455,000 units at a price of $0.11 per unit for gross proceeds of $50,050.
Lahontan will use the proceeds from the offering for exploration expenditures on the company’s Santa Fe, Nevada property; and working capital and general corporate purposes.
New exploration and development
In exploration and development news,Intrepid Metals Corp. (TSXV: INTR) providedfurther details about its new district scale, advanced exploration and development copper property, the Corral Copper Project, in Cochise County, Arizona. The company has highlighted that over 50,000m of drilling has been completed in the district, with significant near surface intercepts of copper, silver, gold, and zinc.
“With the recent acquisition of Cave Creek Copper, we have assay and drill hole information for over 100 holes that have been drilled within the patented mining claim portion of our property. The shallow and high-grade nature of the mineralization is very encouraging as we continue to analyse and review the historical data.” said Ken Brophy, CEO of Intrepid Metals.
Iceni Gold (ASX: ICL) extendedits Guyer North gold nugget anomaly in Western Australia by a further 2.5km along strike, bringing it to a total of 5km.
Gold nuggets have been found across the 14 Mile Well project, most notably in the Guyer North prospect, where over 600 gold nuggets have been recovered over a strike length of 5km.
Centaurus Metals (ASX: CTM) received some highly encouraging preliminaryresults from the pilot plant test work programme currently underway at ALS Metallurgy in Perth on its 100%-owned Jaguar Nickel Sulphide Project in north-eastern Brazil.
The positive results reinforce the quality of the Jaguar Project and supports its potential to achieve excellent nickel recoveries and ultimately deliver a battery-grade nickel sulphate product for the rapidly growing electric vehicle (EV) market.
Drilling results
It was a strong week for drill results, starting withSiren Gold Limited (ASX: SNG) identifyingfurther significant potential at its Lyell Prospect in New Zealand. The Mt Lyell North 1km long Au Zone has been identified as a significant new discovery.
“These high-grade gold results confirm the prospectivity of the Lyell Goldfield. Lyell is located 40km north from Reefton at the northern end of Siren Gold’s tenements that span 35km along a mineralized structural trend.” Managing director, Brian Rodan, said.
The good news continued, with Nova Minerals Limited (ASX: NVA) has confirmingfurther significant gold intersections received from diamond drilling within the Korbel Mining Complex in Alaska.
Maiden resource definition drilling at Cathedral has identified another broad zone of gold mineralization within the Korbel Mining Complex, located approximately 1.5km south of the proposed processing plant.
Rumble Resources Limited (ASX: RTR) has receivedfurther strong RC results from the Chinook West Extension drill campaign within the wholly owned Sweetwater tenement (E69/3787), located at the Earaheedy Project, 110km north of Wiluna, Western Australia.
The mineralization footprint defined by drilling of the Chinook Prospect is now over 8km in strike length and remains open along strike and down dip.
The company has now received the final drill programme results prior to the release of a maiden Mineral Resource Estimate (MRE) for Earaheedy, whilst also testing the potential western extension to the Chinook mineralization.
Also in the news
Evolution Energy Minerals (ASX: EV1) has welcomed a successful meetingwith the Special Presidential Government Negotiating Team and a review by the Attorney General for the framework agreement and shareholders agreement for the ownership, development, and management of the company’s Chilalo Graphite Project.
The company says the review is now in a form that has been agreed with the Tanzanian Government.
Finally, to round things up, Century Lithium Corp. (TSXV: LCE | OTCQX: CYDVF) announceda collaboration with Koch Technology Solutions, a Koch Engineered Solutions company, in the application of the Li-Pro™ process for direct lithium extraction at Century’s Lithium extraction facility in Amargosa Valley, Nevada, USA.
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