VANCOUVER, July 17, 2019 /CNW/ - Metalla Royalty & Streaming Ltd. ("Metalla" or the "Company") (TSXV: MTA) (OTCQB: MTAFF) (FRANKFURT: X9CP) is pleased to report an update on its portfolio of royalties and streams.
NLGM SILVER STREAM
Shanta Gold Limited announced on July 15th, 2019 an updated resource estimate at its New Luika Gold Mine ("NLGM") which is expected to extend the mine life.
- Drilling at Bauhinia Creek ("BC") Central, conducted in April and May, has converted 126,787 ounces of Inferred Resources grading 3.15 g/t into 83,543 ounces of Indicated Resources grading 7.85 g/t, a suitable level of confidence for these ounces to be incorporated into the Mine Plan;
- A further 58,553 ounces of new Inferred Resources grading 4.79 g/t have been added to the Mineral Resource;
- These new high grades, underground Indicated Resources are expected to be supplemented with medium/low-grade ounces to match the historically blended feed grade of 4.3g/t;
- Incorporation of the additional Resource ounces is expected to extend the current Life of Mine to at least 2025;
- Shanta's strategy is to maintain a rolling 5-8-year life of mineable ounces which balances the cost of exploration with visibility on future production;
- The next phase of drilling on the mining licenses over the next 12 months will target conversion of a further 220,300 ounces of Inferred Resources into Indicated Resources at BC as well as other deposits, namely: the Ilunga, Luika and Elizabeth Hill orebodies;
Metalla holds a 15% silver stream on NLGM with the right to purchase silver at 10% of the prevailing spot price at delivery.
Source: see news release from Shanta Gold dated July 15, 2019.
ENDEAVOR SILVER STREAM
CBH Resources Limited ("CBH"), the operator of the Endeavor Mine in Cobar Australia, announced on July 17th, 2019 they will scale back production from 25,000t/month to 17,000t/month and staff for the remainder of 2019 while focusing on infill drilling of the new Deep Zinc Lode Resource to better appraise its future viability. A production decision on the Deep Zinc Lode is expected in Q4 2019 with the potential to add 3-5 years of production.
Management will continue to monitor production at the Endeavor Mine. Metalla has the right to buy 100% of the silver production up to 20 million ounces from the Endeavor Mine for an operating cost contribution of USD$1/Oz for each ounce of payable silver, indexed annually for inflation, plus a further increment of 50% of the silver price over USD $7/Oz.
Brett Heath, President, and CEO of Metalla commented, "The Endeavor Silver stream has provided a meaningful return for shareholders in the two years since it was acquired with further upside potential remaining. It has already generated over 850,000 ounces of silver to Metalla's account, providing a payback and return on capital invested. The scaled-back production at Endeavor through the second half of this year is expected to be partially offset by the Joaquin and COSE royalties currently in development by Pan American Silver Corp. Both are expected to enter production during the coinciding period. Metalla's current portfolio of 43 royalties and streams covers a robust pipeline of development assets being advanced by some of the top operators in the gold industry and is expected to significantly increase our cash flow profile over the following years while we continue to add accretive assets to the portfolio."
FIFTEEN MILE STREAM
Atlantic Gold reported on July 15th, 2019 that security holders approved the plan of arrangement with St. Barbara Limited, following the approval, Atlantic obtained a final order from the Supreme Court of British Columbia with respect to the Arrangement on July 17, 2019. The Arrangement is expected to close on July 19, 2019, subject to the satisfaction of customary conditions.
Metalla views this as a positive step for our Fifteen Mile Stream royalty as the much larger, new operator of the mine will significantly reduce any financing risk on development capital needed to push forward to production on time.
Metalla holds a 1% NSR royalty on the Fifteen Mile Stream.
Pan American Silver Corp. announced their second-quarter 2019 results will be released after market close on August 7, 2019. We expect updated guidance on the approximate timeline for the two royalties to start producing. Previous guidance has been the second half of 2019.
Metalla holds a 1.5% NSR on COSE and 2% NSR on Joaquin.
SANTA GERTRUDIS/EL REALITO/AKASABA WEST
Agnico Eagle Mines Limited announced their second-quarter 2019 results will be released on Wednesday, July 24th after market close. Metalla expects further updates on the drilling from the increased budget at Santa Gertrudis following the discovery of new high-grade structures at Trinidad and follow up drilling on the back of ongoing successful exploration and infill at the recently acquired El Realito project which is part of the operating La India mine.
Metalla holds a 2% NSR royalty on Santa Gertrudis, El Realito, and Akasaba West.
Metalla is a precious metals royalty and streaming company. Metalla provides shareholders with leveraged precious metal exposure through a diversified and growing portfolio of royalties and streams. Our strong foundation of current and future cash-generating asset base, combined with an experienced team gives Metalla a path to become one of the leading gold and silver companies for the next commodities cycle.
For further information, please visit our website at www.metallaroyalty.com
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
President and CEO
Neither the TSXV nor it's Regulation Services Provider (as that term is defined in the policies of the Exchange) accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include, but are not limited to, the future production at the Endeavor Mine,, anticipated cash flows from the Endeavor Mine, future financial reporting by Metalla, the receipt of payments from Metalla's mining royalty and streaming portfolio, the requirement for regulatory approvals and third-party consents, the Company's financial guidance, outlook, proposed plans for acquiring additional stream and royalty interests and the potential of such streams and royalty interests to provide returns and the completion of mine expansion under construction phases at the mines or properties that the Company holds an interest in. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Metalla to control or predict, that may cause Metalla's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Metalla will purchase gold and receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Metalla's expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. Metalla undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Some of the disclosure in this press release is based on information publicly disclosed by the owners or operators of these properties and information/data available in the public domain as at the date hereof, and none of this information has been independently verified by Metalla.
Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements.
SOURCE Metalla Royalty and Streaming Ltd.
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CONTACT INFORMATION, Metalla Royalty & Streaming Ltd., Brett Heath, President & CEO, Phone: 604-696-0741, Email: firstname.lastname@example.org; Kristina Pillon, Investor Relations, Phone: 604-908-1695, Email: email@example.com ; Website: www.metallaroyalty.com
Thunder Bay, Ontario--(Newsfile Corp. - July 17, 2019) - ZEN Graphene Solutions Ltd. (TSXV: ZEN) ("ZEN" or the "Company") announces that it has made a grant of stock options under its stock option plan to certain of its directors and officers to acquire a total of 1,100,000 common shares of the Company. In addition, the Company has granted options to acquire an aggregate of 175,000 common shares of the Company to certain non-executive employees and consultants. All of the options are exercisable at a price of $0.40 per share. One-third of the options granted to the directors and officers vested on the date of their grant, one third of the options will vest six months following the date of grant and the balance will vest on the first year anniversary of the date of grant. One-third of the options granted to the non-executive employees and consultants vested on the date of their grant, one third of the options will vest on the first year anniversary of the date of grant and the remainder will vest on the second year anniversary of the date of grant. The options have a term of five (5) years and are subject in all respects to the terms of the Company's stock option plan and the policies of the TSX Venture Exchange.
About ZEN Graphene Solutions Ltd.
ZEN Graphene Solutions Ltd. is an emerging graphene technology company with a focus on development of the unique Albany Graphite Project. This precursor graphene material provides the company with a competitive advantage in the potential graphene market as independent labs in Japan, UK, Israel, USA and Canada have demonstrated that ZEN's Albany Graphite/Naturally PureTM easily converts (exfoliates) to graphene, using a variety of simple mechanical and chemical methods.
For further information:
Francis Dubé, Chief Executive Officer
Tel: +1 (289) 821-2820
To find out more on ZEN Graphene Solutions Ltd., please visit our website at www.ZENGraphene.com. A copy of this news release and all material documents in respect of the Company may be obtained on ZEN's SEDAR profile at www.sedar.ca.
Neither the 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. The Company's full disclosure can be found at https://zengraphene.com/disclaimer/.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46331
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, July 5, 2019 /CNW/ - Orford Mining Corporation ("Orford") (TSX-V: ORM) is pleased to announce that, further to its news releases of June 17 and June 28, 2019, it has closed a non-brokered multi-tranche private placement financing (the "Offering") of an aggregate of 8,963,337 common shares which will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) collectively the "Flow-Through Shares"), for aggregate gross proceeds of C$1,305,460. The first tranche consisted of 5,457,692 Flow-Through Shares at an issue price of C$0.13 per Flow-Through Share for gross proceeds of C$709,500. The second tranche consisted of 3,505,645 Flow-Through Shares at an issue price of C$0.17 per Flow-Through Share for gross proceeds of C$595,960.
In addition, Orford issued 9,678,373 hard dollar units ("Units") at an issue price of C$0.10 per Unit for gross proceeds of C$967,837. The Units are comprised of one common share of Orford and one-half common share purchase warrant (each whole warrant a "Warrant"). Each Warrant is exercisable at a price of C$0.20 per common share for a period of 24 months following the closing date, subject to acceleration in the event that the volume weighted average trading price of the common shares on the TSXV is equal to or greater than or greater than C$0.60 or higher for a period of more than 20 consecutive trading days following the date that is four months and one day following the closing date.
The total gross proceeds of the Offering was C$2,273,297.
The proceeds from the issuance of Flow-Through Shares will be used by Orford to continue the exploration of the Qiqavik [high-grade gold] project in Northern Quebec and incur Canadian Exploration Expenses ("CEE"), and will qualify as "flow-through mining expenditures" under the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date no later than December 31, 2019 to the subscribers of Flow-Through Shares in an aggregate amount no less than the proceeds raised from the issue of the Flow-Through Shares.
The proceeds from the issuance of the Units will be used by Orford to continue the exploration of the Qiqavik project in Northern Quebec and for general corporate purposes. The Qiqavik project represents a new gold discovery in the Cape Smith Belt of Northern Quebec.
Following completion of the Offering, there are 94,975,170 issued and outstanding common shares of Orford. The Flow-Through Shares and Units issued under the Offering are subject to a statutory hold period of four months plus a day following the date of closing.
Orford understands that Alamos Gold Inc. (AGI-TSX) ("Alamos"), which subscribed for Units and acquired additional Orford shares from a third party in a private transaction, now owns a total of 21,107,634 common shares of Orford, or 22.2% of its issued and outstanding common shares. Orford also understands that Royal Nickel Corporation ("RNC"), which subscribed for Units, now owns or controls a total of 22,502,911 common shares of Orford, or 23.7% of the issued and outstanding shares.
Alamos has acquired the Orford shares for investment purposes, which will be evaluated and increased or decreased from time to time at Alamos' discretion. A copy of the Alamos Early Warning Report is available on SEDAR at https://www.sedar.com or can be requested by contacting Scott Parsons, Vice-President, Investor Relations, at SParsons@alamosgold.com, 416-368-9932 (ext 5439) or by mail at Brookfield Place, 181 Bay Street, Suite 3910, Toronto, Ontario M5J 2T3.
RNC has acquired the Orford shares for investment purposes, which will be evaluated and increased or decreased from time to time at RNC's discretion. A copy of the RNC Early Warning Report is available on SEDAR at https://www.sedar.com or can be requested by contacting Rob Buchanan, Investor Relations, at firstname.lastname@example.org or by mail at 141 Adelaide Street West, Suite 1608, Toronto, Ontario M5H 3L5.
About the Qiqavik High-Grade Gold Property
The Qiqavik Property covers the 40-km long Qiqavik Break, part of the Cape Smith Belt event which is of Paleoproterozoic age (1.8-1.9 billion years). This geologic era is marked by its significant metal endowment as illustrated by the important gold districts that occur worldwide related to geological events of Paleoproterozoic age. These include the Flin Flon-Snow Lake Belt, the Ashanti Gold Fields of West Africa, the Tapajos-Parima Belt of Brazil, and the Tanami Region in Australia1. The Cape Smith Belt is also home to Glencore's world class Raglan Mine.
Early-stage exploration work completed to date on the Qiqavik Property shows that high-grade gold and copper occurrences are structurally controlled and associated with secondary splay structures located along the district-scale Qiqavik Break Shear Zone which extends the full 40 km length of the Qiqavik Property.
This information is not necessarily indicative of the mineralization on Orford Mining's properties.
About Orford Mining Corporation
Orford Mining is a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik and West Raglan projects comprising of a land package totaling over 70,000 hectares in the Cape Smith Belt of Northern Quebec. The Qiqavik Project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 km. Orford's common shares trade on the TSX Venture Exchange under the symbol ORM.
To view further details about the Qiqavik and West Raglan projects please visit Orford's website, www.orfordmining.com.
Cautionary Statement Concerning Forward-Looking Statements
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Orford to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Orford's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although Orford has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Orford disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
The TSXV has neither approved nor disapproved the contents of this news release.
SOURCE Orford Mining Corporation
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David Christie, President and CEO, T: (416) 309-0609, www.orfordmining.com
Remaining drill results from the winter drilling continue to return impressive grades of 95.5 m grading 314 g/t scandium oxide (Sc2O3), including 16.3 m grading 353 g/t Sc2O3 and 113.9 m grading 310 Sc2O3, including 354 g/t Sc2O3 over 12.0 m
Elevated levels of total rare earth oxides plus yttrium (TREO+Y) of up to 0.622% characterize the scandium-bearing horizon.
This broad scandium and rare earth mineralized package can be traced to surface, making it potentially amenable to open pit mining.
A new mineralized unit has also been identified 70 m east of the main horizon requiring further evaluation.
MONTREAL, June 18, 2019 (GLOBE NEWSWIRE) -- Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG) is pleased to announce that the final three holes from the 2019 winter drilling program all intersected significant widths and grades of scandium and rare earths (REE) mineralization in the TG Zone (TGZ) target, Crater Lake project, northeastern Québec.
A five-hole diamond drilling program for 1,014 m was completed on April 20, 2019 over the TG Zone target to evaluate the scandium potential of a high-intensity magnetic anomaly (Figure 1, see Press Release: May 22, 2019). The new drilling is located 600 m north of a historical drill hole which had returned scandium grades of up to 506 g/t Sc2O3 over 19.0m along the western side of the Crater Lake intrusion on the same magnetic trend. The current results represent the remaining significant analyses from the drilling program. The diamond drill contractor was Avataa Rouillier Drilling Inc. of Amos, Quebec.
“The winter drilling results for the Crater Lake property continues to exceed all expectations, as they confirm wide intervals of scandium and TREO+Y at the TGZ target,” said Peter Cashin, Imperial’s President & Chief Executive Officer. “This new drill section 100N, fully 400 m south of the previously announced results of Section 500N, is now defining an important zone of mineralization that can be traced to surface, making it a likely low-cost, open pit mining opportunity. Using a Sc2O3 price of $1,500US per kg, these scandium results have a gold (Au) equivalent value of up to 12.4 g/t (0.40 oz/t), assuming the recent gold price close of $1,330US per ounce.”
Table 1 - Crater Lake Drilling Best Assay Results: