Avalon Announces Updated Resource Estimate and Development Plans for Separation Rapids Lithium Project, Kenora, Ontario

Toronto, Ontario–(Newsfile Corp. – May 23, 2018) – Avalon Advanced Materials Inc. (TSX: AVL) (OTCQX: AVLNF) (“Avalon” or the “Company”) is pleased to announce a mineral resource estimate update for the Separation Rapids lithium deposit which includes results from the 2018 winter drilling program disclosed in the Company’s news release dated April 3, 2018. In this program, four holes extended the known deposit to depth on both its east and west ends, resulting in a 10% increase in overall tonnage. This brings the total Measured and Indicated Resources to 8.405 million tonnes at 1.408% Li2O, with an additional Inferred Resource of 1.791 million tonnes at 1.349% Li2O (as summarized in Table 1 below). The deposit remains open to depth. The new resource estimate will be incorporated into an updated Preliminary Economic Assessment (“PEA”) now in preparation and targeted for completion by June 30, 2018.

Project Development Update

Development has been focused on evaluating several variants on the project model based on the relative proportions of the various potential lithium products. The current model, which will be the basis for the updated PEA, contemplates a staged development approach which begins with a Phase 1 plant capable of initially producing 75,000 tonnes per annum (“tpa”) of lithium mineral concentrate (petalite) for sale as an industrial mineral product to consumers in the glass industry, in addition to a further 40,000 tpa of lepidolite concentrate for sale to lithium chemical producers. Once scaled up, this plant will produce almost 180,000 tpa of lithium mineral concentrate. The plant will also have the potential to produce a feldspar concentrate by-product for other markets.

Phase 2 would involve a demonstration-scale hydrometallurgical pilot plant to begin producing trial quantities of the lithium battery material derivative product (lithium hydroxide or carbonate) for evaluation by potential end-users. Following acceptance of the product in the market, the Company would then proceed with a scale-up of the hydrometallurgical plant in Phase 3 to produce up to 10,000 tpa of lithium battery materials in addition to continuing to serve its other customers with industrial mineral products.

This development model has several potential significant economic benefits that could greatly reduce overall investment risk compared to the model used in the Company’s 2016 PEA that contemplated a relatively large initial capital investment ($450 million) to construct a 14,500 tpa dedicated lithium hydroxide production facility. These benefits include the potential of a relatively low initial CAPEX, (targeting in the range of $50-70 million), early positive cash flow from industrial minerals product sales and flexibility in product design to ensure broad market acceptance before incurring the larger capital investment required to build the Phase 3 hydrometallurgical plant.

Interest in the Company’s lithium mineral (petalite) product from glass industry consumers is high due to its exceptional purity, which is an increasingly important factor in many new high-strength glass formulations. The Company is in advanced discussions with several glass industry customers with a view toward securing the offtake commitments required to finalize the project engineering and plant design and secure project financing.

With the completion of the updated PEA by June 30, 2018 and the necessary financing in place, Avalon intends to proceed with the necessary project engineering and process testwork to take the PEA development model to the Pre-Feasibility or Feasibility level of confidence on capital and operating cost estimates.

Sustainability and Permitting

The small environmental footprint, including low GHG emissions, and almost non-existent air emissions planned in the first stage, makes this phased development approach advantageous to the permitting process. There are no anticipated environmental impacts of concern at the project, with the mineral deposit and waste rock being non-toxic and non-acid generating, with minimal water discharge anticipated. Avalon continues to update and validate its completed 2007 environmental baseline study and the tailing management system design. The Company is planning to formally start the permitting process this summer, once sufficient engineering data and project financing are in place. Avalon is also currently working with Hydro One to determine the optimal route to deliver clean hydro-electric power to the site from one of the nearby dams on the English River.

The staged development approach is also advantageous to Avalon’s potential Indigenous partners by providing time to consider opportunities for direct participation in project development and time for individual members to obtain the necessary training for jobs at the site. Engagement is ongoing with local Indigenous communities, regulators, and local government who continue to be supportive of the project.

The technical information included in this news release has been reviewed and approved by the Company’s Vice President, Exploration, Dr. William Mercer, P. Geo (Ont), and Dave Marsh, FAusIMM (CP), Senior Vice President, Metallurgy and Technology Development, both Qualified Persons under NI 43-101.

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.

This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to statements that the new resource estimate will be incorporated into an updated PEA now in preparation and targeted for completion by June 30, 2018, that the current model, will be the basis for the updated PEA, statements about the proposed plant production and potential capex, cash flow and flexibility, that this development model has several significant economic benefits that greatly reduce overall investment risk, that with the completion of the updated PEA and the necessary financing in place, Avalon intends to proceed with the necessary project engineering and process testwork to take the PEA development model to the Pre-Feasibility or Feasibility level of confidence on capital and operating cost estimates, that there are no anticipated environmental impacts of concern at the project and that the Company is planning to formally start the permitting process at the end of June, when engineering data and financing are available. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “potential”, “scheduled”, “anticipates”, “continues”, “expects” or “does not expect”, “is expected”, “scheduled”, “targeted”, “planned”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be” or “will not be” taken, reached or result, “will occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avalon to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. Although Avalon has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to market conditions, and the possibility of cost overruns or unanticipated costs and expenses as well as those risk factors set out in the Company’s current Annual Information Form, Management’s Discussion and Analysis and other disclosure documents available under the Company’s profile at www.SEDAR.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting investors in understanding the Company’s plans and objectives and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements. Avalon does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.

Table 1: Separation Rapids Lithium Deposit Mineral Resources Estimate as at May 22, 2018 (PZ refers to Petalite Zone and LPZ refers to Lepidolite-Petalite Zone)

  PZ   LPZ
  Mt % Li2 O % Ta2 O5 % CsO % Rb2 O   Mt % Li2 O % Ta2 O5 % CsO % Rb2 O
Measured 2.425 1.440 0.005 0.010 0.322   0.939 1.410 0.008 0.027 0.473
Indicated 3.992 1.391 0.006 0.012 0.338   1.049 1.402 0.009 0.025 0.469
Measured + Indicated 6.416 1.409 0.006 0.011 0.332   1.989 1.406 0.009 0.026 0.471
Inferred 1.308 1.351 0.007 0.017 0.342   0.483 1.346 0.008 0.020 0.427
  Total PZ+LPZ            
  Mt % Li2 O % Ta2 O5 % CsO % Rb2 O            
Measured 3.364 1.431 0.006 0.015 0.365            
Indicated 5.041 1.393 0.007 0.014 0.366            
Measured + Indicated 8.405 1.408 0.007 0.015 0.365            
Inferred 1.791 1.349 0.007 0.018 0.365            



  1. This resource estimate is valid as of May 22, 2018.
  2. CIM definitions were followed for Mineral Resources.
  3. The Qualified Person for this Mineral Resource estimate is William Mercer, PhD, P.Geo. (ON).
  4. The resource estimate is based on Avalon’s drilling of 74 previous holes totalling 11,644 metres drilled between 1997 and 2017 and a further four holes totalling 1,282 metres in 2018.
  5. Drill data was organized in Maxwell DataShed and for estimation purposes was transferred to Geovia GEMS 6.8 software, wherein the block model was developed.
  6. The geological units were modeled as outlined by drill core logs.
  7. Resources were estimated by interpolating composites within a block model of 10 x 10 x 3 metre blocks oriented along the deposit strike.
  8. Grade interpolation used the Ordinary Kriging method combined with variograms and search ellipses modeled for each rock unit. For PZ unit, search ellipses of 50 x 35 x 15 m and 175 x 125 x 45 m were used for Passes 1 and 2, respectively. For LPZ unit, search ellipses of 35 x 25 x 8, 75 x 50 x 15 and 115 x 75 x 25 were used for Passes 1, 2 and 3, respectively.
  9. Measured material was defined as blocks interpolated using Passes 1 and 2, using composites from ≥ 4 drill holes and a distance ≤ 25 m to the nearest composite and additional blocks with excellent geological and grade continuity. Indicated material includes blocks interpolated with Pass 1 and 2 search ellipses, using ≥ 3 drill holes and a distance ≤ 35 m to the nearest composite and blocks with geological and grade continuity. Inferred material was defined as blocks interpolated with all Passes, composites from ≥ 2 drill holes and interpolated geological continuity up to 40 m below diamond drill holes.
  10. Two metre composites were used and no capping was necessary.
  11. The mean density of 2.65 t/m3 was used for unit 6ABC and 2.62 t/m3 for unit 6D.
  12. The cut-off grade reported in this resource estimate, 0.6% Li2O, is consistent with the previously published resource estimates by Avalon (Preliminary Economic Assessment, 2016; November 15, 2017 resource estimate).
  13. Mineral resources do not have demonstrated economic viability and their value may be materially affected by environmental, permitting, legal, title, socio-political, marketing or other issues.

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InvestmentPitch Media Video Discusses West Red Lake Gold’s Shareholder Update on Exploration Program in Red Lake Gold District in Northwestern Ontario – Video Available on Investmentpitch.com

Vancouver, British Columbia–(Newsfile Corp. – May 23, 2018) – InvestmentPitch Media video discusses West Red Lake Gold. If this link is not enabled, please visit www.InvestmentPitch.com and enter “West Red Lake” in the search box.

On May 18, West Red Lake Gold (CSE: RLG) (FSE: HYK) (OTCQB: RLGMF) updated shareholders on its recent exploration program in the Red Lake Gold District of Northwestern Ontario.

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The 3,100-hectare Project, located in the prolific Red Lake Gold District in Northwestern Ontario, is situated on the Red Lake Archean Greenstone Belt which hosts the high-grade gold mines of the Red Lake Gold District.

Three former gold mines on the West Red Lake Project property are situated on the PBS Zone with the Mount Jamie Mine located in the western portion of the West Red Lake Project, the Rowan Mine in the central portion and the Red Summit Mine located in the eastern portion. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the company and the Rowan Mine property is held in a 60%-owned joint venture with Red Lake Gold Mines, a partnership of Goldcorp Inc. and Goldcorp Canada Ltd.

The hole, which was located 450 metres east of the Rowan Mine Shaft, was drilled to the north at -74 degrees over a length of 1,272 metres. Due to spring breakup conditions drilling operations were stopped and further drilling is planned to commerce in the second half of 2018. The drill core has been logged and samples have been sent out for assay.

The Rowan Mine Zones lie within the east-west trending regional shear structure known as the Pipestone Bay St Paul Deformation Zone which is a regional geological structure that crosses the property and continues east to the town of Red Lake.

Gold zones are hosted within a sequence of hydrothermally altered mafic volcanics with intercalated felsic volcanics and porphyries as well as ultramafics. Two distinct gold mineralization styles are noted: one associated with sulphide mineralization and the other with smoky quartz veins and fine grained native gold. The mineralization is hosted within a shear zone up to a hundred metres wide.

The regional scale Golden Arm Structure and the sub-parallel NT Zone cross onto the West Red Lake Project from the south boundary and trend northeast for 2 kilometres to where they merge and intersect with the PBS Zone at a location situated between the Rowan Mine and the Red Summit Mine.

Twenty kilometres to the east of the property a similar geologically important intersection of two regional gold bearing structures occurs proximal to the world class Red Lake Mine and Campbell Mine, providing a highly favourable geological model believed to be similar to that seen at the Structural Intersection and illustrating the significant exploration potential for high grade gold zones on the company’s West Red Lake Project.

John Kontak, President, stated: “We are very pleased to be continuing our exploration programs on the promising Red Lake property throughout 2018 and look forward to further property developments.”

For more information, please visit the company’s website at www.westredlakegold.com, contact John Kontak at 416-203-9181 or email jkontak@rlgold.ca.

About InvestmentPitch Media

Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000’s of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

InvestmentPitch Media
Barry Morgan, CFO

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Investing in America: SEC Commissioners are Heading to Atlanta to Interact with Investors

Washington D.C.–(Newsfile Corp. – May 23, 2018) – The Securities and Exchange Commission today announced that the five-member Commission and staff from across the agency will be in Atlanta on June 13 for an interactive event with investors at Georgia State University College of Law. The event is an opportunity for all Main Street investors—from those who just started their first job to those approaching retirement—to hear directly from, and share feedback with, the SEC’s leaders on topics that directly affect their personal finances and the regional and national economies. 

“With its dynamic population, innovative ideas, and thriving economy, Atlanta is an ideal place for us to discuss the work we do and hear directly from the people we serve,” said SEC Chairman Jay Clayton, who will be joined in Atlanta by Commissioners Kara Stein, Michael Piwowar, Robert Jackson, and Hester Peirce.

The Commissioners will kick the day off with a town hall-style event covering a range of topics from choosing a financial professional, to initial coin offerings and digital assets, to cybersecurity. Directly after the town hall, attendees are invited to join the Commissioners and SEC staff at one of the interactive breakout sessions to gain greater insight into some of the most requested topics before the SEC today. 

Breakout session topics:

  • The Investor Experience: Does the Information You Get From Mutual Funds and ETFs Work for You?
  • Tips for Savers, Including Military and Early Career
  • Stopping Fraud
  • Bitcoin & ICOs
  • Investing in, and Raising Money by, Small Companies

“As anyone in the Atlanta Regional Office can tell you, this area has no shortage of people with great ideas, and I know their input will make this event a meaningful learning opportunity both for our agency and the region,” said Richard Best, Director, SEC Atlanta Regional Office. 

Seating is first come, first served and attendants are encouraged to RSVP via the SEC’s Atlanta Regional Office’s webpage, which has event details. There is convenient parking and a MARTA Station nearby. The event is free and open to the public and the media.

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PreveCeutical Provides Update on Forward Stock Split

Vancouver, British Columbia–(Newsfile Corp. – May 23, 2018) – PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the “Company” or “PreveCeutical“), announces that, further to shareholder approval of a forward stock split (the “Stock Split“) of the Company’s issued and outstanding common shares (each, a “Share“) on the basis of five new Shares for each one existing Share (see news release dated May 17, 2018), the Company’s Shares have commenced trading today on the Canadian Securities Exchange on an “ex-distribution” basis.

The record date for the Stock Split has been set at May 24, 2018. Shareholders of the Company do not need to take any action with respect to the Stock Split.

About PreveCeutical

PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products.

PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; the Sol-gel Program; Nature Identical peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).

PreveCeutical sells CELLB9®, an Immune System Booster. CELLB9® is an oral solution containing polarized and potentiated essential minerals extracted from a novel peptide obtained from Caribbean Blue Scorpion venom. This product is available on the Company’s website.

For more information about PreveCeutical, please visit www.PreveCeutical.com, follow us on Twitter: http://twitter.com/PreveCeuticals and Facebook: www.facebook.com/PreveCeutical.

On Behalf of the Board of Directors

“Stephen Van Deventer”
Chairman, CEO and President

For further information, please contact:

Deanna Kress
Director of Corporate Communications & Investor Relations

ForwardLooking Statements:

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future including the Company’s anticipated business plans and its prospect of success in executing its proposed plans. Often, but not always, forward-looking statements can be identified by words such as “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, “proposes” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors including the inability of the Company to execute its proposed business plans and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the biotechnology or pharmaceutical industry, may also adversely affect the future results or performance of the Company. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although the Company believes that the statements, beliefs, plans, expectations, and intentions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations, or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to other periodic reports provided by the Company from time-to-time. These reports and the Company’s filings are available at www.sedar.com.

Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

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Aurora Solar Technologies Announces Heterojunction Solar Cell Quality Measurement System in Advance of Major Exhibition in China

North Vancouver, British Columbia–(Newsfile Corp. – May 23, 2018) – Earlier this year, Aurora Solar Technologies Inc. (TSXV: ACU) (OTC Pink: AACTF) (FSE: A82) (“Aurora“) (“Company“) announced its decision to develop a Decima measurement system for heterojunction technology (HJT) solar cell applications in partnership with SERIS, a leading research organization located in Singapore. These joint efforts enabled the Company to validate the use of high-speed infrared technology as a game-changing method for measuring and controlling the quality of HJT solar cell structures. The Company is now pleased to announce the introduction of the DM-121 and DM-321 measurement systems for HJT cell TCO layer quality control. These novel products, which measure both TCO sheet resistance and layer thickness at full production speeds are ideally suited for automatic quality control applications in the rapidly developing HJT cell manufacturing market.

To produce the electrical structure of a HJT cell, it is necessary to apply thin layers of amorphous silicon on both sides of a crystalline silicon wafer as well as transparent, conductive oxide layers (TCO) to absorb the generated power. The TCOs are the conduits allowing electrical current to flow from the active portion of the cell to the metal contacts. Optimizing and controlling the uniformity of the TCO layers during cell manufacturing is crucial to maximizing the power and yield of the HJT cells. The DM-121 and DM-321 systems measure the front and rear TCO sheet resistances and thicknesses on silicon photovoltaic (PV) wafers. Both sheet resistance and thickness are measured at a series of discrete points along each wafer. Aurora’s patented non-contact infrared measurement technology is used in these products and provides accurate real-time measurements for process control and optimization.

The systems consist of a specialized pair of DM (formerly Decima) series measurement heads, designed as a unit to fit above and below a wafer conveyor. They measure up to 100 percent of wafers at full production line speed and can connect to Aurora’s Visualize™ quality control system for integration of measurements with process tools to provide real-time 3D visualization of intra-tool dynamics, both spatially and by batch. This enables optimization and control of PVD or RPD processes for maximum production line yield and throughput.

The DM-121 and DM-321 products are available now, and can be seen at the Shanghai New Energy Conference Exhibition (SNEC), May 28-30, booth number E3-653.

About Aurora Solar Technologies:

Aurora’s mission is to deliver exceptional results to the photovoltaic industry through measurement, visualization and control of critical processes during solar cell manufacturing. We measure and map the results of critical cell fabrication processes, providing real-time visualization of material properties, cell parameters and production tool performance. Our products provide process engineers and production-line operators with the means to rapidly detect, analyze and correct process excursions, limit variations, and optimize processes, thereby increasing yield and profits. We are creating the quality control standard for the global photovoltaic manufacturing industry. For more information, Aurora’s website is located at www.aurorasolartech.com.

For further information contact:

Michael Heaven, P.Eng., MBA
President & Chief Executive Officer
Aurora Solar Technologies Inc.
Phone: +1 (778) 241-5000

Investor Relations contact:

Paradox Public Relations
Phone: +1 (514) 341-0408

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.

Some statements in this news release contain forward-­looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. The Company does not assume the obligation to update any forward­-looking statement.

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Power Americas Intersects Positive Drill Results on Its Kittson-Cobalt Project

Vancouver, British Columbia–(Newsfile Corp. – May 23, 2018) – Power Americas Minerals Corporation (TSXV: PAM) (Power Americas or the “Company“) is pleased to announce the first results of their winter diamond drilling program on their Kittson-Cobalt Project, located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada.

A total of 17 drill holes, totaling 1,750 metres, of BTW-size core were drilled, 15 targeting the Shakt-Davis mine area and 2 holes targeting the eastern extension of the Edison mine. The program successfully intersected the fracture zone that hosts the Shakt-Davis mineralization over a strike length of 125 metres and to a maximum depth of 170 metres. The fracture zone ranged from 5 to 30 metres wide (drilled core length) and hosted several 0.1 – 1.0 metre quartz-carbonate veins surrounded by intense carbonate alteration. Fracture- and vein-controlled cobalt mineralization in the form of smaltite occurred throughout this zone with values up to 0.05% Co over 29.24 metres. A full list of significant intersections is provided in Table 1 below. Drill Location maps and cross-sections can be found on the Company’s website by following: “Click here to view maps and cross sections.”

Table 1. Diamond Drilling Highlights.

KIT-18-001 Hole abandoned due to intersecting old workings
KIT-18-002 84.33 85.1 0.77 0.38 0.017 0.1 0.00 0.06
KIT-18-003 No Significant Results
KIT-18-004 90.7 91.62 0.92 0.52 0.009 0.1 0.00 0.06
KIT-18-005 No Significant Results 
KIT-18-006 29.58 40.59 17.85 0.04 0.007 0.2 0.02 0.01
Inc. 29.58 33.30 3.72 0.08 0.079 0.3 0.02 0.01
Inc. 29.58 30.00 0.42 0.42 0.060 0.9 0.00 0.06
KIT-18-007 28.97 34.35 5.38 0.11 0.005 0.2 0.02 0.02
Inc. 30.97 31.27 0.73 0.61 0.020 0.8 0.03 0.10
KIT-18-008 22.26 51.5 29.24** 0.05 0.007 0.2 0.01 0.01
Inc. 22.26 27.34 5.08 0.10 0.003 0.5 0.03 0.02
Inc. 25.63 27.34 1.71 0.18 0.005 0.6 0.03 0.02
And 34.58 35.93 1.35 0.38 0.120 1.2 0.01 0.12
And 48.31 51.50 3.19 0.16 0.003 0.5 0.01 0.03
Inc. 50.60 51.50 0.90 0.36 0.003 0.6 0.01 0.06

*All reported widths are drilled core lengths.
Includes zero grade for unsampled core from 28.34-33.53m and 37.67-48.31m.

Commenting on the latest results, Jeffrey Cocks, President and CEO said: “We’re highly encouraged by these broad zones of cobalt mineralization at the historic Shakt-Davis mine area. Coupled with the discovery of Co mineralization in both drill holes further to the east near the Edison workings, these results suggest there may be open pit / bulk tonnage potential within the Kittson-Cobalt Project. Further results from the drill program will be released as they become available.

Planning is currently underway for Power Americas’ summer exploration program, which will include follow-up drilling around the historic workings on the Property, as well as reconnaissance mapping, prospecting, geophysical surveys and soil sampling on the newly-acquired claims extending to the southwest (see PAM news release: 12-18-2017).

Sample Analysis and QA/QC

Split core samples were analysed for base metals including Co, Cu, Ni, Pb, and Zn among others, along with Au and Ag at Activation Laboratories in Timmins, Ontario. The analytical codes used include 1A2-Au-50g (fire assay/AAS), 1E-Ag (aqua regia digest/ICP-OES), and 8-peroxide (Na2O2 digest/ICP-OES). Standards and blanks were inserted into the sample stream every 20 samples. The Co-bearing standards used in this program were sourced from CDN Resource Laboratories Ltd. of Langley, British Columbia, and Geostats Pty Ltd., of Western Australia.

About the KittsonCobalt Project

The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Shakt-Davis and Cobalt-Kittson mines, as well as numerous historic workings, the deepest extending down to 628 feet, and over 2,500 feet of lateral workings. Cobalt mineralization occurs in Proterozoic-aged quartz-carbonate veins hosted in brittle shears in Nipissing diabase. This style of mineralization is similar to that of the famous Cobalt Silver Camp Located ✍15 km east of the Property, which produced 420 million ounces of silver with cobalt as a significant by-product. Veins hosting the mineralization at the Kittson-Cobalt Project differ from the typical Cobalt Silver Camp veins in that they are lower in silver but richer in cobalt, and are associated with significant gold. Historic reports from the Shakt-Davis mine indicate values of 1.5% Co over 1.37 metres and select grab samples returning up to 4% Co and 93.3 g/t Au. Locally significant nickel, copper and to a lesser extend lead, zinc and bismuth also occur within the quartz-carbonate veins.

About Power Americas Mineral Corp.

Power Americas Minerals Corporation is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium and other energy metals in North and South America. Power Americas’ acquisition strategy focuses on acquiring affordable, cost-effective and highly regarded mineral properties in areas with proven geological potential. The Company’s shares are listed and posted for trading on the TSX Venture Exchange under the symbol “PAM”, the OTC Markets under the symbol “PWMRF”, and on the Frankfurt Exchange under the symbol “VV0”.

The technical content of this news release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., Vice President of Exploration and a director of the Company, and a Qualified Person as defined by National Instrument 43-101.

On behalf of the Board of Directors:

“Jeffrey Cocks”

Jeffrey Cocks

For more information please contact:
Howard Milne V.P. Business Development

(604) 377-8994 Email: hdmcap@shaw.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Duran Ventures Reports that IAMGOLD Corporation Secures Surface Right Agreement on the Minasnioc Gold-Silver Project: To be renamed Mansa Musa Gold-Silver Project

Toronto, Ontario–(Newsfile Corp. – May 23, 2018) – Duran Ventures Inc. (TSXV: DRV) (BVL: DRV) (“Duran” or the “Company”) is pleased to announce that IAMGOLD Corporation’s Peruvian subsidiary IAMGOLD Peru S.A. (“IAMGOLD”) has entered into a surface right agreement on its now named Mansa Musa Project in southern Peru. Duran and IAMGOLD entered into an Option Agreement in December, 2017 allowing IAMGOLD to earn up to 75% in three stages by completing cumulative cash payments totalling $500,000 US, delivering a prefeasibility study and by securing project financing. The details of the earn-in can be reviewed on the Company’s website.

The surface agreement with the local community now allows IAMGOLD access to conduct exploration work consisting of geological mapping and sampling, geophysical surveys and drilling programs. Duran received notice that IAMGOLD will start the field work at the end of May. As a result, IAMGOLD will now enter into the first option and will make an option payment of $75,000 US once the surface agreement has been legalized on the Public Notary and after execution of the public deed. Duran is extremely pleased that IAMGOLD has secured the surface agreement in a very efficient and timely manner. As a result, a full field season of exploration can commence on this highly prospective gold-silver property.

The Mansa Musa gold-silver property is located in the department of Huancavelica, Peru, approximately 310 kilometres southeast of Lima. In 2010 and 2011, the Company was granted the initial 1,000 hectare concession that covered previous drilling by Barrick Gold Corp. and Compañia de Minas Buenaventura SAA. Duran, in 2012, purchased from Barrick three surrounding concessions and an extensive database, which includes: detailed assays for 41 holes totalling 5,863 metres; extensive surface sampling data; detailed geological maps; and resistivity and induced polarization geophysical survey maps. Since 2012, the Company acquired an additional 8 concessions expanding the property to cover an area of approximately 7300 hectares.

Duran’s geologists confirmed the presence of a high-sulphidation (acid sulphate) gold-silver bearing system developed in tertiary volcanic rocks. Extensive zones of argillic and advanced argillic alteration are present, with areas of massive and vuggy silica with associated alunite. The largest gold mines in Peru such as Newmont’s Yanacocha, Barrick’s Pierina and Alto Chicama mines are high sulphidation Au-Ag systems hosted in tertiary volcanic rocks. These systems are priority exploration targets for major gold producers because of the lower capital expenditures required to place these disseminated deposits into production and having favourable metallurgy.

CEO Jeffrey Reeder quotes, “The surface access agreement IAMGOLD secured is very significant allowing exploration to commence early in the field season. We are extremely pleased with IAMGOLD’s commitment to the project and look forward to promising results. The earn-in agreement with IAMGOLD is the second agreement with a major mining company on one of our wholly owned properties. The Mansa Musa project and associated Earn-in Option Agreement confirms Duran’s ability to create new projects and attract major partners. Duran’s other earn-in partner First Quantum re-started drilling in April on our Panteria Cu-Au property located 75 kilometres northwest of Mansa Musa and is expected to finish their second phase drill program during the third quarter 2018”.

Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.

About Duran

Duran Ventures Inc. is a Canadian exploration company focused on mineral processing and the exploration and development of precious and base metal properties in Peru.

Duran Ventures Inc. is a Canadian resource company Listed on the
TSX Venture Exchange and the Bolsa de Valores de Lima: Symbol “DRV”
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
or Oscar Pezo at (011) 511 422-1467
Website: https://ift.tt/2rl6m2q

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.

Disclosure Regarding Forward-Looking Statements: This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. We use words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.

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