First Global Announces Private Placement

Toronto, Ontario–(Newsfile Corp. – February 28, 2018) – First Global Data Limited (TSXV: FGD) (FSE: 1G5) (the “Corporation“) is pleased to announce that it has closed the first tranche (“First Tranche“) of a non-brokered private placement (the “Private Placement“) previously announced in its press release of February 8, 2018. In this First Tranche, the Company issued an aggregate of 7,272,000 units (the “Units“) at a price of $0.25 per unit for aggregate gross proceeds of $1,818,000.00.

Each unit in the Private Placement consists of one (1) common share and one (1) common share purchase warrant (“Warrant“). Each Warrant entitles the holder to purchase one (1) common share for a period of two (2) years from date of issuance at an exercise price of $0.40 per Warrant.

The Private Placement remains open and subject to all necessary final regulatory approvals. The securities being issued in the Private Placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Corporation intends to use net proceeds for general working capital and the retirement of debt.

About First Global Data Ltd. (www.firstglobaldata.com)

First Global is an international financial services technology (“FINTECH”) company. The Company’s two main lines of business are mobile payments and cross border payments. First Global’s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

For further information please contact:
Andre Itwaru, Chairman and CEO
(416) 504-3813 ext. 204
First Global Data Limited
email: ir@firstglobaldata.com

Caution:

Neither TSX Venture Exchange Inc. (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.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Information:
This news release contains forward-looking information within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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Vangold Mining Invites Shareholders and Investment Community¬†to visit us at Booth 3314 at the PDAC Conference in Toronto,¬†and at RAISE at the PDAC, March 2, 2018

Vancouver, British Columbia–(Newsfile Corp. – February 28, 2018) – Vangold Mining Corp (TSXV: VAN) (OTC Pink: VGLDF) (FSEE35B) (the “Company” or “Vangold”) is pleased to invite the investment community to the PDAC Conference in Toronto from March 4th to March 7th. Vangold’s management will be at the Company’s booth #3314 throughout the PDAC Conference and we look forward to greeting our shareholders, investors and conference attendees. Vangold will also be presenting at the RAISE “One-on-One at the PDAC” event on Friday March 2nd, located at One King West Hotel.

Visit www.pdac.ca and www.raiseconference.com for registration details.

The annual PDAC provides a showcase for the best in the mining industry, and there is a renewed enthusiasm throughout the precious metal sector leading up to this Event. The Company is proud to be part of this year’s show. Cameron King, CEO; Howard Milne, Corporate Finance and the Company’s legal representative for Mexico, Guillermo Garcia, will be available to answer questions on corporate growth, cash flow plans and progress on the current underground drilling programs. We look forward to meeting our investors and shareholders at Booth #3314.

Vangold Mining Overview:

Vangold holds an extensive portfolio of precious metal properties in Mexico’s Guanajuato mining district. The Company is well positioned to benefit from improving precious metal market fundamentals. Vangold is advancing towards its maiden resource confirmation and valuation at its El Pinguico property by implementing multi-phase drilling campaigns targeting the lower El Pinguico vein and the deeper Veta Madre intersection over the next few months. In 2017, Vangold entered into a 310 hectare surface land acquisition, which has accelerated the Company’s environmental application process (MIA), the land use permit and the mining explosive permit. Our strategy in 2018 will be to finance geological drilling campaigns and mine development expenditures through equity opportunities for institutions and investors alike. The larger CAPEX and OPEX commitments are anticipated to be funded through structured debt instruments, production-based stream or an off-take partnership.

To find out more about Vangold Mining Corp (TSXV: VAN) visit the Company’s website at www.vangoldmining.com.

VANGOLD MINING CORP.

“Cameron Scott King”
President and CEO

ON BEHALF OF THE BOARD OF DIRECTORS
Cameron S. King
President, CEO and Director

For further information contact:
Mr. Howard Milne, Corporate Development
Telephone: 604-377-8994
Email: howard@vangoldmining.com

Cautionary Statement Regarding Forward Looking Information

This News Release may contain, in addition to historical information, forward-looking statements. These forward-looking statements are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Vangold’s expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, limited operating history, proposed exploration and/or drill programs and other factors which may cause the actual results, performance or achievements of Vangold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

NEITHER 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.

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ML Gold Announces New Discovery with 204 Metres of 0.5% Copper Equivalent (0.45% Cu) Including 40 Metres at 1.02% CuEq at Stars Project – Geophysics Identifies Potential Centre of Porphyry

Vancouver, British Columbia–(Newsfile Corp. – February 28, 2018) – ML Gold Corp. (TSXV: MLG) (“ML Gold” or the “Company”) is pleased to announce a new discovery on its Stars project where hole 4 (DD18SS004) has intersected 0.45% Copper (0.50% CuEq) over 204 metres (m) including 1.02% CuEq (0.93% Cu) over 40.2m from surface. New drill sites are currently being planned to expand from hole 4 and test the newly identified “central” target area (as indicated on the attached survey map, Figure 1). The Stars project is ideally located in central British Columbia in the heart of the province’s prolific porphyry belt.

STARS HIGHLIGHTS

  • High-Grade Results from Surface: Hole 4 intersected 40.2 metres of 1.02% copper equivalent (0.93% Cu) from 26.52m to 66.72m (bedrock begins at 21.58m) within a larger interval grading 0.50% CuEq (0.45% Cu) over 204m from 23.47m to 227.69m.

  • New Geophysics Identifies Possible Porphyry Centre: The recent detailed airborne magnetic survey identified a cluster of covered and untested circular magnetic anomalies between the two zones drilled in the current program and centered within a larger ovoid magnetic “ring” feature (or “magnetic halo”) approximately 5 kilometres in diameter (long axis) (see Figure 1).

  • Porphyry System Confirmed: Dr. Paul Johnston, an independent porphyry expert who recently reviewed the project drill core comments: “Mineralization [observed in the Stars drill core] is consistent with mineralized features associated with a porphyry system” and suggests that “the [current] drilling is in a marginal position relative to the porphyry centre” where it is reasonable to expect higher copper grades.

  • Drill Hole Chemistry Indicates A Significant Upside Target: Drilling to date has identified a clear systematic zonation of sulphide minerals where pyrite-only mineralization transitions to pyrite-chalcopyrite to chalcopyrite-only to chalcopyrite-bornite moving towards the newly identified “central” target area. This pattern has been identified in both areas drilled in the current program and in both cases displays an increasing temperature gradient towards the “centre” target area possible indicating a better-mineralized copper porphyry centre.

  • Potential for Multiple High Grade Zones: The near-surface high-grade zone discovered in hole 4 could play a significant role in the economics required to build a mine. The location of the zone on the edge of the ovoid magnetic “ring” feature indicates that there could be additional high-grade zones elsewhere within the magnetic ring feature which extends approximately 5 kilometres in diameter (long axis) (see Figure 1).

  • Close to Infrastructure: Year round road access, proximal rail, access to cheap power and water, access to a major port (Kitimat), low relief topography, and a near-by population centre put the Stars project in an ideal location for low-cost mine development.

ML Gold recently engaged Dr. Paul Johnson, an independent consultant and expert on porphyry deposits worldwide, to conduct a review of the drill core at ML Golds Stars project. Dr. Johnston was able to identify several key factors including the sulfide mineral assemblages which are used to infer the sulfidation state of the mineralizing fluids responsible for depositing the copper observed in the drill holes. He comments “the sulfide minerals show a systematic variation between drill holes and define a trend from higher to lower sulfidation state, which can be equated to increasing temperature with declining sulfidation state”. Thus a better-mineralized target is proposed where mineral assemblages point to higher temperature parts of the system (a common relationship exhibited by porphyry deposits worldwide) and suggests that the highest temperature and better-mineralized copper zone has yet to be drilled.

Following Dr. Johnston’s site visit, and the completion of the airborne magnetic survey, Dr. Johnston was able to incorporate his field observations with the newly acquired magnetic data. He comments “Vein relationships and styles observed in Stars drilling are consistent with copper mineralization associated with magmatic-hydrothermal alteration and mineralization associated with porphyry systems”. Furthermore, “a porphyry centre is proposed between the two areas drilled based on magnetic patterns combined with vectors to a mineralization center derived from sulfide mineral patterns”.

PRELIMINARY DRILLHOLE RESULTS

HoleID From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) Mo (%) CuEq (%)
DD18SS004 23.47 227.69 204.22 0.45 0.045 1.64 0.0048 0.50
incl 26.52 66.72 40.20 0.93 0.092 3.27 0.0047 1.02
further incl. 64.92 66.72 1.80 10.29 1.065 31.85 0.0737 11.35
and incl. 115.76 117.20 1.43 8.33 1.361 8.83 0.1741 9.62
DD17SS001 35.66 297.79 262.13 0.11 0.013 0.39 0.0033 0.13
DD17SS002 26.52 252.07 225.55 0.10 0.007 0.37 0.0026 0.11
incl 249.02 252.07 3.05 1.05 0.020 1.86 0.0007 1.08
DD18SS003 23.47 188.06 164.59 0.13 0.013 0.39 0.0032 0.15
DD18SS005 Results Pending            
DD18SS006 Results Pending            

 

** CuEq calculated using following metal prices: Cu @ $3.19/lb, Au @ $1330/oz, Ag @ $16.60/oz, Mo @ $7.26/lb (all price in $US)
***True widths are unknown at this time.

Hole 4 (DD18SS004) was drilled on the eastern flank of the newly identified magnetic ring structure (see Figure 1). The mineralization in hole 4 consists predominantly of chalcopyrite mineralization and likely does not represent the potassic core of a system, but does indicate the potential for significant copper endowment in the core of the system (yet to be drilled). The style of mineralization observed (massive chalcopyrite veins with secondary biotite halos overprinted by chlorite) suggests the high-grade copper mineralization is being ejected further out from the potassic core indicating that there could be multiple zones similar to that encountered in hole 4 elsewhere on the property.

Holes 1 through 3 (DD17SS001, DD17SS002, DD18SS003) show copper grades that are consistent with what can be expected adjacent to a copper rich potassic zone, and display a clear zonation of decreasing sulfidation state and increasing temperature indicating that the highest potential area for the potassic core of the porphyry system is just to the west of this area. This is further supported by the recent magnetic survey and preliminary observations from holes 5 and 6.

Adrian Smith, President of ML Gold comments “Dr. Johnston has proven instrumental in bringing the current drilling into the context of a larger porphyry system that may be present on the property. We will continue to consult with industry leaders as we begin a more aggressive second phase of drilling stepping out around hole 4 and testing the new targets generated from rock chemistry vectors and airborne geophysics.”

Overall, alteration patterns and mineralogy hold-up on a kilometre scale and suggest that the best zones have yet to be found on the Stars project.

Quality Assurance and Quality Control

All core was transported daily to ML Gold’s logging/cutting facility in Houston BC, where it was logged and sampled by a registered professional geologist. Core was then cut in half with one half retained in the core box and the other securely sent to MS Analytical Laboratories in Langley (ISO/IEC 17025:2005 certified), B.C. to undergo analysis. The core lengths sampled were generally 10ft intervals and the internal QA/QC sampling procedure included inserting blanks and standards with one in every 10 samples into the sample sequence. The samples are checked to ensure results fall within acceptable target ranges and all results from the controls were acceptable.

The analysis included; 20 gram Multi Element, 3:1 Aqua Regia (Code: IMS-131), Ultra Trace ICP-AES/MS finish. Over-limit samples underwent Ore Grade Copper, 3:1 Aqua Regia (Code: ICA-6Cu), 0.4 grams with ICP-AES finish, and Ore Grade Copper, 4-Acid (Code: ICF-6Cu), 0.2 gram with ICP-AES finish. MS analytical also conducted independent QA/QC procedures which included inserting duplicate, standard, and blank samples within each batch analyzed.

Adrian Smith, P.Geo., is the qualified person for the Company as that term is defined in National Instrument 43-101, and has supervised the technical information presented within this news release.

ABOUT ML GOLD CORP.

ML Gold Corp. is a Canadian company listed on the TSX Venture Exchange, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.

For additional information please visit the Company’s website at www.mlgoldcorp.com. You may also email info@mlgoldcorp.com or call investor relations at (604) 669-2279.

ML GOLD CORP.     

“Andrew Bowering”

Andrew Bowering

Chairman

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.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information.  These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$,  changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

Figure 1: 2018 Detailed Airborne Magnetic Survey with Interpretations

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Avalon Announces the Results of its 2018 Annual Meeting of Shareholders

Toronto, Ontario–(Newsfile Corp. – February 28, 2018) – Avalon Advanced Materials Inc. (TSX: AVL) (OTCQX: AVLNF) (“Avalon” or the “Company”) is pleased to announce the results of its 2018 Annual Meeting of Shareholders held in Toronto, Ontario on February 27, 2018 (the “Meeting”).

At the Meeting, all six director nominees listed in the Company’s information circular dated January 11, 2018 were elected as directors of the Company. The detailed results of the vote are as follows:

Director Number of Votes Cast Percentage of Votes Cast
Donald Bubar
 
In Favour:
Withheld:
34,697,019
997,989
97.20
2.80
Brian MacEachen
 
In Favour:
Withheld:
34,773,710
921,298
97.42
2.58
Alan Ferry
 
In Favour:
Withheld:
34,677,469
1,017,549
97.15
2.85
Patricia Mohr
 
In Favour:
Withheld:
34,546,920
1,148,088
96.78
3.22
Jane Pagel
 
In Favour:
Withheld:
34,560,116
1,134,892
96.82
3.18
Kenneth G. Thomas
 
In Favour:
Withheld:
34,741,540
953,468
97.33
2.67

 

In addition, at the Meeting shareholders appointed Ernst & Young LLP as auditors of the Company.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in niche market metals and minerals with growing demand in new technology. The Company has three advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently focusing on its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium Project, Yarmouth, NS. Social responsibility and environmental stewardship are corporate cornerstones.

For questions and feedback, please e-mail the Company at ir@AvalonAM.com, or phone Don Bubar, President & CEO at 416-364-4938.

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Sky Trail(R) Ropes Course Welcomed Aboard the Carnival Cruise Ship Horizon

Allegan, Michigan–(Newsfile Corp. – February 28, 2018) – When the Carnival Horizon ship sets off on its maiden voyage April 2, 2018 on a 13-day Mediterranean cruise, it will be offering more than 3,900 passengers a chance to navigate the third high ropes course available on a Carnival cruise ship — the Sky Trail® course, designed and constructed by Ropes Courses, Inc. (RCI). The single-level structure has 24 different elements that follow two different paths. The circular design, supported by 12 different poles, creates two linear paths that assure a smooth flow for participants as they take on each new challenge. Two of Carnival’s sister ships, Breeze and Magic, have been featuring Sky Trail® Expedition courses for the past several years.

The aerial ropes course will be located on Deck 14 and poised 150 feet above the sea. Passengers are fitted into a safety harness and can opt for the beginner or intermediate route. Obstacles include rope bridges, swinging steps, and narrow beams. The unique construction and layout of the Sky Trail® Expedition accommodates Carnival’s high capacity needs by allowing for hundreds of guests to traverse the course per hour. Adults, and children taller than 48 inches, can test their skills and balance and progress from the beginner to intermediate route as their confidence and skills improve.

“Carnival Cruise Line is known for its thrilling open-air attractions and the ropes course on Carnival Horizon promises to be a spectacular attraction on our newest ship,” enthused Dominic Chancellor, manager of Outer Decks Experience for Carnival Cruise Line. “Guests can enjoy the thrill of traversing suspended ropes while taking in the breathtaking views to the sea below. We can’t wait for our guests to check it out.”

“Designing another Sky Trail course for a Carnival cruise ship was an exciting opportunity for us,” explained Jim Liggett, founder and owner of RCI. “Working with a smaller amount of space than we typically use for our many land-based structures and still managing to add so much variety and challenge, made this a really fun and rewarding installation. We realize that deck space on these vessels is at a premium and we were honored to be welcomed back,” he added.

###

About Ropes Courses, Inc.

Ropes Courses, Inc. (RCI) has been custom manufacturing, installing and servicing adventure products since 1989. Sky Trail® ropes courses and its entire family of products are designed and engineered to deliver interactive recreational challenges. RCI also owns Amaze’n Mazes and sells Clip ‘n Climb climbing challenges for North and South American installations. RCI adventure products are custom designed and easily integrated into amusement parks, zoos, family entertainment centers, museums, resorts, cruise ships, and more. Millions of participants on five continents and in 24 countries experience RCI attractions annually. For more information visit www.ropescoursesinc.com

The brand new Carnival Horizon cruise ship will be the third Carnival ship to feature a Sky Trail ropes course experience to its passengers.

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Related Video

http://www.youtube.com/watch?v=e_F45tL2jic

Lori Gunthorp, Market Development Manager 
lori@ropescoursesinc.com
Phone (269) 673-0016 

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SEC Files Charges Seeking to Halt Recidivist and Associates in Scheme to Defraud Small Businesses

Washington, DC–(Newsfile Corp. – February 28, 2018) – The Securities and Exchange Commission today charged three-time recidivist Steven J. Muehler with operating an unregistered broker-dealer, facilitating an unregistered securities offering, and defrauding small businesses, while promising to help them raise money from investors.  Three companies under Muehler’s control, Muehler’s wife, Claudia M. Muehler, and his associate, Koorosh “Danny” Rahimi, were also charged.  Because the scheme is ongoing, the SEC is also seeking a preliminary injunction to stop Muehler’s ongoing violations of the securities laws, pending trial of the action.

The SEC’s complaint, which was filed in federal court in Los Angeles, also charges Muehler with violating a cease-and-desist order issued by the Commission in 2016 barring Muehler from associating with any broker-dealer.  The SEC has filed a parallel action in the same court to enforce that Commission order.

According to the complaint, Muehler’s companies are not registered as broker-dealers.  But since at least November 2015, Muehler and his companies have nonetheless agreed to provide broker-dealers services to more than 20 small businesses, including identifying and soliciting investors and utilizing a purportedly proprietary online securities exchange to help raise funds from investors.  In return, Muehler and his companies received fees, the right to a percentage of any funds raised from investors, and the right to an equity stake in each small business customer. 

The SEC also alleges that in offering broker-dealer services, Muehler and his companies made numerous fraudulent claims to potential customers, including that Muehler and his companies had $50 million on-hand to invest in their customers’ securities, that they had previously helped customers raise millions of dollars, and that their proprietary online exchange was registered with the SEC.  They also concealed that Muehler is subject to a Commission cease-and-desist order and has been sanctioned by California and Minnesota securities regulators. 

The SEC’s complaint alleges that Claudia Muehler and Danny Rahimi helped Muehler carry out this scheme.

“As alleged in our complaint, Muehler tells small businesses that he runs a successful broker-dealer enterprise that can raise millions of dollars from investors.  In truth, Muehler is a repeat securities-law violator who already admitted to defrauding small businesses the last time the Commission brought an enforcement action against him.  The complaint demonstrates the Commission’s vigilance in enforcing its orders and dealing with recidivist violators,” said Michele Wein Layne, Director of the SEC’s Los Angeles Regional Office. 

The SEC’s complaint charges Muehler and the three companies he controls (AltaVista Capital Markets, LLC, AltaVista Private Client, LLC, and AltaVista Securities, LLC) with violating Section 5(c) of the Securities Act of 1933 and Section 15(a), Section 10(b), and Rule 10b-5 of the Securities Exchange Act of 1934, and also charges Muehler with violating Section 15(b)(6) of the Securities Exchange Act of 1934.  It charges Claudia Muehler with aiding and abetting Muehler’s and the AltaVista Companies’ violations of the Securities Exchange Act of 1934, and charges Rahimi with violating Section 15(a) of the Securities Exchange Act of 1934. 

The complaint also seeks permanent injunctions, disgorgement plus interest, and penalties.

The SEC’s investigation, which is ongoing, has been conducted by M. Lance Jasper and Benjamin Faulkner, and supervised by Spencer E. Bendell.  The litigation will be led by Donald W. Searles and supervised by Amy J. Longo.

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Lara Reports Drilling Intercepts 117.47 Metres, Averaging 0.57% Copper Equivalent at the Planalto Copper Project in Brazil

Vancouver, British Columbia–(Newsfile Corp. – February 28, 2018) – Lara Exploration Ltd. (TSXV: LRA) (“Lara” or “the Company”), is pleased to report that its first diamond drill hole at the Planalto Copper Project, DDH-17-01 has intercepted 222.29 metres (“m”) from surface with an average grade of 0.38% copper and 39 parts per billion (“ppb”) gold (0.41% copper equivalent). Within this wider zone, there is an intercept of 117.47m (between 62.08m and 179.55m down hole) with an average grade of 0.53% copper and 54ppb gold (0.57% copper equivalent). The second hole, DDH-17-02, drilled below DDH-17-01 on the same section, intercepted a lower grade mineralized zone of 101.36m at 0.14%Cu and within this zone the best intersections were 15.00m at 0.32% copper and 4.70m at 0.3% copper.

Miles Thompson, President and CEO of Lara commented: “We are very pleased with our first intercept from Planalto and excited to have potentially identified a new style of copper mineralization in the Carajás Province; we look forward to reporting results of the additional holes in the coming weeks.”

Drillhole UTM-N UTM-E From (m) To (m) Interval (m) Cu (%) Au (ppb) Cu Eq. (%)
17-01 9294910 636859 0.00 229.29 222.29 0.38 39 0.41
including 62.08 179.55 117.47 0.53 54 0.57
17-02 9294862 636842 102.84 204.1 101.36 0.14 20
including 119.05 134.05 15.00 0.32 27
and 183.25 187.95 4.70 0.30 29
Notes: Copper equivalent (Cu Eq.) values for by-product gold are calculated using a copper price of US$3.00/lb and a gold price of US$1,340/oz. No allowance is made for losses in a normal mining situation. The reported intercepts are not necessarily true widths, as there is insufficient data at this time to determine the orientation of the mineralized body.

 

Drillhole 17-01 was drilled at an angle of 55 degrees at an azimuth of 030 degrees, 17-02 at an angle of 65 degrees to the same azimuth direction to test the northern end of a copper in soil geochemistry anomaly extending over one kilometre in strike length and up to 400m in width, interpreted as proximal to an important structural break between granitic intrusives and mafic-intermediate meta-volcanics and gabbro intrusives. Channel samples of rock and saprolite, where exposed across the main soil anomaly, included intervals with 12m averaging 5,180 parts per million (“ppm”) copper, 45m averaging 2,561 ppm, 33m averaging 2,062 ppm and 33m averaging 2,702 ppm Cu.

Copper mineralization logged in these first two drill holes was surprising in that it comprised predominantly chalcopyrite in a stockwork-like pattern of narrow sub-millimeter to centimeter-wide veins, veinlets and disseminations hosted in altered (biotite, actinolite and K-feldspar) mafic metavolcanics and gabbroic intrusive rocks. Chalcopyrite also occurs associated with magnetite in early K-feldspar-rich veins, as well as in later cross-cutting quartz, epidote, calcite and fluorite veins ranging in widths from a few millimeters to several meters. This style of mineralization differs from the more complex and pervasive alteration, associated with major brecciation and mineralization of the Iron-Oxide-Copper-Gold deposits typical of the Carajás Province. Molybdenite occurs sporadically in the low-grade copper zone of 17-02 with the best intersection of 591ppm Mo over 0.85m. Lara is in the process of drilling an additional two holes to better understand this mineralization, but provisionally it is interpreted as being related to a late Lower Proterozoic-age A-type granite porphyry.

Sampling methodology, Chain of Custody, Quality Assurance and Quality Control

All rock channel and drill core sampling were carried out by or under the supervision of the Company’s Vice-President Exploration and the chain of custody of the samples and drill core from the project area to the company’s sample preparation facility in Canaa dos Carajás was continuously monitored. Sample intervals for channel sampling varied between 2m and 4m and for drill core, the sampling interval varied from a little less than 1m to a maximum of 1.5m, being guided by the degree of copper mineralization and rock types.

Blank and certified reference materials were inserted approximately every 20th sample and the company routinely reanalyses laboratory pulps and crushed rejects for a number of samples from previous sample batches with each new sample batch. The samples were delivered to SGS-Geosol in Parauapebas where they were crushed and pulverized, with the sample pulps then dispatched by SGS-Geosol to their own analytical laboratory at Vespasiano, near Belo Horizonte, in Minas Gerais State, Brazil. The pulps are subjected to Agua Regia digestion with copper and 36 other elements being determined by ICP. Gold was determined by fire assay fusion and an atomic absorption (AAS) finish on a 50g charge. Copper values above 1% Cu are determined by fusion with sodium peroxide with an ICP OES finish. SGS-Geosol also routinely runs, and reports, a number of certified standards and blank samples with each sample batch. Check assays for copper and gold determinations have been carried out on a number of reject material samples from SGS-Geosol at a second commercial laboratory in Parauapebas.

Michael Bennell, Lara’s Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.

About Lara

Lara is an exploration company following the Prospect Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio of prospects and deposits located mostly in Brazil and Peru. Lara’s common shares trade on the TSX Venture Exchange under the symbol “LRA”.

For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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from Newsfile Corp News Releases http://ift.tt/2GRcfZr