Today, Glencore International AG (GIAG) and Newmont Corporation (NYSE: NEM, TSX: NGT) announced they have reached an agreement in which Glencore will acquire Newmont's 18.75% shareholding in the MARA Project (MARA). Following completion of the transaction, Glencore will own 43.75% of MARA.
Under the terms of the agreement, Glencore will pay $124.9 million upon closing and a $30 million deferred payment upon commercial production subject to an annual interest charge of 6%. Total deferred consideration is capped at $50 million.
The closing of the transaction is subject to customary conditions and regulatory filings.
The MARA Project, located in the Catamarca province of Argentina, is a joint venture formed in December 2020 between Yamana Gold, Glencore and Newmont following the integration of the Minera Alumbrera plant and mining infrastructure and Agua Rica project. Under the new structure, Yamana Gold Inc. will remain the operator with 56.25% of MARA, with Glencore owning the remaining shares.
A core asset for Yamana and Glencore, MARA has proven and probable mineral reserves of 5.4 million tonnes of copper and 7.4 million ounces of gold contained in 1.105 billion tonnes of ore with an initial mine life of 28 years.
Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
This release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws, including, but not limited to, statements of expectations of closing of the sale of Newmont's MARA interest, expectations regarding receipt of deferred consideration, and expectations regarding future mining and commercial production of the project. Forward-looking statements may be accompanied by terminology such as "will" or comparable terminology. Forward-looking statements provide the Company's current expectations about future events, but these statements are not guarantees and involve certain risks, uncertainties and assumptions. The closing of the transaction remains subject to satisfaction of customary conditions and completion of regulatory filings. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement", to reflect circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005951/en/
Media Contact Courtney Boone 303.837.5159 courtney.boone@newmont.com
Investor Contact Daniel Horton 303.837.5468 daniel.horton@newmont.com
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LaSalle Exploration Corp. (TSXV:LSX) has launched its campaign on the Investing News Network’s resource channel.
LaSalle Exploration is a diverse resource exploration and development company focused on projects in the province of Quebec. The company is working to evaluate both the Eeyou Istchee James Bay region and under-explored regions of the Abitibi Greenstone Belt. The company owns a strong portfolio of projects including the Radisson gold property, the Blakelock gold-copper property and its recently-acquired Egan gold property.
LaSalle Exploration’s flagship Raddison property is located in the Eeyou Istchee James Bay Territory of Quebec, approximately 90 kilometers from Newmont Corporation’s (TSX:NGT) Eleonore gold deposit. In 2020 LaSalle Exploration resumed exploration of the Raddison property, investigating the targets previously generated during the company’s field programs and geophysical surveys. Grab sample results at Raddison have returned up to 25 g/t gold and 0.22 percent copper.
LaSalle Exploration Corp’s company highlights include the following:
Click here to connect with LaSalle Exploration Corp. (TSXV:LSX) and to request an investor presentation.
Precipitate Gold Corp. (TSXV:PRG) has launched its campaign on the Investing News Network’s resource channel.
Precipitate Gold is a mineral exploration company with district-scale strategic land positions in the Dominican Republic. The company is currently advancing its Pueblo Grande and Juan de Herrera projects in the Dominican Republic, where the company is also working to expand its existing portfolio. Precipitate Gold always works to acquire 100 percent of the properties that it owns, ensuring that there are no outstanding vendor payments or working commitments.
Precipitate Gold’s current projects are strategically located in highly-prospective and active gold and copper mining camps in the Dominican Republic. The company’s flagship Pueblo Grande project is next to Barrick Gold (TSX:ABX) and Newmont Goldcorp’s (TSX:NGT,NYSE:NEM) Pueblo Viejo mine, which is the eighth-largest gold mine in the world and the largest gold mine operating in Latin America. Pueblo Viejo is projected to produce approximately 600,000 ounces of gold at an all-in sustaining cost of US$650 per ounce in 2019.
Precipitate Gold’s company highlights include the following:
Click here to learn more about Precipitate Gold Corp. (TSXV:PRG) and to request an investor presentation.
White Gold Corp. (TSXV:WGO,OTC:WHGOF,FRA:29W) has been featured in a sponsored article published by the Mining Journal.
The article covered recent results from White Gold’s 2019 exploration program which is comprised of 17,000 meters of diamond drilling, 7,500 meters of reverse circulation drilling and upcoming drill plans. To date, White Gold has identified multiple new high-grade mineralization trends across its JP Ross project and White Gold project in the Yukon’s White Gold district. The new trends were all delineated within 10 kilometers away from last year’s Vertigo discovery area. One of White Gold’s goals this summer is to add more ounces to the VG zone on the company’s QV project, which sits 44 kilometers north of Newmont Goldcorp’s (TSX:NGT,NYSE:NEM) Coffee project.
“Unlike a typical junior mining company, there is no incentive for us to prolong work on a property where we don’t see the potential. We are systematically performing low-cost exploration work across our entire portfolio to guide where further exploration dollars are spent,” said White Gold CEO David D’Onofrio.
To read the full article, click here.
Click here to connect with White Gold Corp. (TSXV:WGO, OTC:WHGOF, FRA:29W) for an Investor Presentation.
Today Glencore International AG ("Glencore") announced, and has made Yamana Gold Inc. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or the "Company") aware under the terms of the MARA joint venture ("MARA JV"), that it has reached an agreement (the "Agreement") to acquire Newmont Corporation's ("Newmont") 18.75% shareholding in the MARA Project ("MARA" or the "Project"). Following completion of the Agreement, Yamana remains the MARA JV operator with a 56.25% interest in MARA, with Glencore owning the remaining 43.75%. Yamana welcomes Glencore's increased stake in the Project and believes the Agreement is a positive step for MARA, as the consolidation of ownership amongst partners provides a further endorsement of the quality and strategic optionality inherent in the Project, as well as underpinning its value.
Under the terms of the Agreement, Glencore will pay Newmont $124.9 million upon closing and a $30 million deferred payment upon commercial production subject to an annual interest charge of 6%. Total deferred consideration is capped at $50 million. Based on the NPV(8%) of $1.9 billion as determined by the 2020 PFS-B results summarized below, the implied P/NAV transaction multiple is approximately 0.5x which Yamana believes is in line with comparable precedent transactions for the sale of a minority interest in projects at similar stage of development.
Glencore previously operated Minera Alumbrera, in which Yamana was a partner. Currently Minera Alumbrera is part of the MARA Project after its integration with Minera Agua Rica, which Yamana wholly owned. Glencore has worked with Yamana in the formation of the MARA JV, the integration of the processing plant, related infrastructure and other assets of Minera Alumbrera with the Agua Rica deposit, and the advancement of the Project since then.
Yamana looks forward to continuing its work with Glencore and the local stakeholders as MARA advances its permitting, engineering, social licensing and field work towards the goal of finalizing the feasibility study and the environmental and social impact assessment, which the Company expects will further increase the Project's value.
The MARA project is high-quality, low-risk brownfield project located in the Catamarca province of Argentina. On a 100% basis, MARA has Proven and Probable Mineral Reserves of 11.8 billion pounds of copper and 7.4 million ounces of gold contained in 1.1 billion tonnes of ore (1) . Based on the results of the PFS(B) completed in 2020, the project highlights include:
Additional Project information can be found on the MARA project webpage .
Scientific and technical information contained in this news release has been reviewed and approved by Sébastien Bernier (P. Geo and Senior Director, Reserves and Resources). Sébastien Bernier is an employee of Yamana Gold Inc. and a "Qualified Person" as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Yamana Gold Inc. is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through expansion and optimization initiatives at existing operating mines, development of new mines, the advancement of its exploration properties and, at times, by targeting other consolidation opportunities with a primary focus in the Americas.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations 416-815-0220 1-888-809-0925 Email: investor@yamana.com
FTI Consulting (UK Public Relations) Sara Powell / Ben Brewerton +44 7974 201 715223 / +44 203 727 1000
(1) Summary of MARA's attributable gold and copper Mineral Reserves. Mineral Reserves are estimated using a variable metallurgical recovery. Average metallurgical recoveries of 86% Cu, 35% Au, 43% Ag, and 44% Mo were considered. Open pit mineral reserves are reported at a variable cut-off value averaging $8.42/t, based on metal price assumptions of $3.00/lb Cu, $1,250/oz Au, $18/oz Ag, and $11/lb Mo. A LOM average open pit costs of $1.72/t moved, processing and G&A cost of $6.70/t of run of mine processed. The strip ratio of the mineral reserves is 1.7 with overall slope angles varying from 39° to 45° depending on the geotechnical sector.
(2) Copper equivalent metal includes copper with gold, molybdenum, and silver converted to copper-equivalent metal based on the following metal price assumptions: $6,614 per tonne of copper, $1,250 per ounce for gold, $24,250 per tonne for molybdenum, and $18.00 per ounce for silver.
(3) A non-GAAP financial performance measure. Please refer to section 11 of the Company's Management's Discussion and Analysis for the quarter ended June 30, 2022, dated July 28, 2022, as filed on SEDAR at www.sedar.com, EDGAR and incorporated by reference to this press release. The most directly comparable GAAP metric is cost of sales.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains or incorporates by reference "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation and within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information includes, but is not limited to information with respect to the Company's strategy, plans, expectations and beliefs in connection with the MARA project, including production, capital and operating costs, and the advancement of its feasibility study. Forward-looking statements are characterized by words such as "plan", "expect", "budget", "target", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the Company's expectations in connection with the production and exploration, development and expansion plans at the Company's projects being met, the impact of proposed optimizations at the Company's projects, changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, and the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating metal prices (such as gold, silver, copper and zinc), currency exchange rates (such as the Canadian Dollar, the Brazilian Real, the Chilean Peso and the Argentine Peso versus the United States Dollar), the impact of inflation, possible variations in ore grade or recovery rates, changes in the Company's hedging program, changes in accounting policies, changes in mineral resources and mineral reserves, risks related to asset dispositions, risks related to metal purchase agreements, risks related to acquisitions, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, risks associated with infectious diseases, including COVID-19, unanticipated costs and expenses, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, final pricing for concentrate sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting timelines, government regulation and the risk of government expropriation or nationalization of mining operations, risks related to relying on local advisors and consultants in foreign jurisdictions, environmental risks, unanticipated reclamation expenses, risks relating to joint venture operations, title disputes or claims, limitations on insurance coverage, timing and possible outcome of pending and outstanding litigation and labour disputes, risks related to enforcing legal rights in foreign jurisdictions, as well as those risk factors discussed or referred to in the Company's Annual Information Form filed with the securities regulatory authorities in all provinces of Canada and available at www.sedar.com, and the Company's Annual Report on Form 40-F filed with the United States Securities and Exchange Commission. Although the Company 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 not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding what the Company believes to be its true value proposition and may not be appropriate for other purposes.
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With a strong minerals market, favourable government regulations, rich deposits and a strong industry presence, Ecuador is an incredibly attractive investment opportunity for Australian companies.
According to The Fraser Institute's 2021 annual survey of mining and exploration companies, Ecuador is the second most attractive destination in Latin America for mining investment. It's also notable for hosting some of the most attractive gold, silver and copper deposits in the region, many of which remain underexplored. The country's government, meanwhile, has been open about its plan to support mining industry growth.
Thus far, that plan has largely succeeded, with Ecuador's mining exports increasing by 74 percent in 2021. With investments by several powerhouse mining companies and increasing demand for the country's major mineral exports, the coming years will likely see similar growth. Moreover, because Australia is already a major investor in Ecuador, the two countries have existing multiple bilateral agreements in place.
The year 2018 was a transformative one for Ecuador's mining industry. It all started when the country’s newly appointed Vice Minister of Mines Fernando L. Benalcazar took a bold stance — revealing an aggressive plan to grow the country's mining sector from 1.55 percent of its GDP to an impressive 4 percent by 2021. Unfortunately, that goal was never achieved and mining represents 1 percent of the country’s GDP today.
And yet, the mining sector in Ecuador has never looked more promising. How so? This can largely be traced back to 2019 when the country's mining landscape significantly changed after Lundin Gold (TSX:LUG,OTC Pink:FTNMF) acquired a previously abandoned project and reached an agreement with the Ecuadorian government to further develop it.
Flash-forward to today and the now-prolific Fruta del Norte project is not only Ecuador's first large-scale modern gold mine — it's also the country's largest producing gold mine. Plus, Lundin Gold is not the only major mining company that's staked its claim on Ecuadorian soil. Several other companies are actively investing into developing projects in the country.
One example is the Cascabel project, a joint venture between Solgold (TSX:SOLG,OTC Pink:SLGGF) and Cornerstone Capital Resources (TSXV:CGP). Situated on a porphyry copper-gold deposit in Northern Ecuador, the mine recently underwent a pre-feasibility study with incredibly promising results.
Also of note is the fact that BHP (ASX:BHP,LSE:BHP,NYSE:BHP), the world's largest mining corporation, became Solgold's largest shareholder in 2019. Newcrest Mining (ASX:NCM) is another major investor.
Expected to begin production by 2025, Cascabel is one of the four largest developing projects in the country. The other three are all currently in the advanced exploration stage, expected to be operational by 2023. These are Dundee Precious Metals' (TSX:DPM) Loma Larga, Adventus Mining's (TSXV:ADZN) Curipamba and Atico Mining's (NASDAQ:ATY) La Plata.
The Chinese-owned Mirador copper-gold project is another major contributor to Ecuador's current mining growth. Owned and operated by a subsidiary of a state-owned consortium, it is Ecuador's first industrial-scale copper project. Mirador exported its first shipment of 22,000 tonnes of copper to China in January 2020.
Last but certainly not least is the San Carlos Panantza mine, owned and operated by the same subsidiary that owns Mirador. Situated in the Corriente Copper Belt, it represents one of the largest copper reserves in the world. However, the mine has been non-operational since 2020 due to resistance from members of the Shuar indigenous community.
Although the mining sector is still relatively new and its infrastructure is still underdeveloped, the presence of so many titans of industry is a very positive sign. It demonstrates long-term confidence that the region is a sound investment.
Since Australia is a major investor in the Ecuadorian mining sector, the two countries have worked closely with one another on an international level for several decades. This has most recently taken the form of several Memorandums of Understanding (MoUs) on work and holiday visas, mining cooperation, air services and political consultation. Australia and Ecuador also work closely with one another at the educational level, and have established several additional MoUs with Australian universities.
Although there is no official free trade agreement between the two countries, both are members of the United Nations, World Trade Organisation, World Bank and International Monetary Fund.
All of these collaboration has culminated in a positively massive Australian presence in the South American country, sparked at least in part by BHP and Newcrest's Solgold play. Other Australian mining and exploration companies with a foothold in Ecuador include Fortescue Metals Group (ASX:FMG), Hancock Mining, Titan Minerals (ASX:TTM), Tempus Resources (ASX:TMR), Challenger Exploration (ASX:CEL) and Sunstone Metals (ASX:STM). Of these, Titan Minerals could be a promising entry path to Ecuador.
An exploration and development company focused on potential tier one projects, Titan Minerals' holdings include the Dynasty gold project, Copper Duke project and Linderos project.
As Titan's flagship project, Dynasty's foreign resource estimate totals 2.1 million ounces at an average grade of 4.5 grams per tonne gold. Located in the Loja province of southern Ecuador, Dynasty consists of five concessions across a total area of 139 square kilometres. Titan plans to continue expanding the resource and exploring its underlying porphyry potential as it continues to develop its other two projects.
Located roughly 18 kilometres east of Dynasty, Copper Duke covers a total area of 130 square kilometres. Preliminary testing indicates geophysical characteristics similar to many regions that host tier one assets. The project also contains geophysical anomalies consistent with the presence of high-grade gold and copper.
Lastly, the Linderos project is located 20 kilometres southwest of Dynasty, in a corridor of mineralisation that extends from Peru through Northern Ecuador. It comprises four contiguous concessions across 143 square kilometres. Titan Minerals is currently engaged in an advanced-stage exploration plan that has already demonstrated great promise.
Ecuador's mining sector is still very much in its infancy compared to other nations of the world. However, the region shows enormous promise, particularly for Australian investors. The presence of major companies such as Newcrest and BHP is indicative of that and has served to draw many other organisations.
This INNSpired article is sponsored by Titan Minerals (ASX:TTM). This INNSpired article provides information that was sourced by the Investing News Network (INN) and approved by Titan Mineralsin order to help investors learn more about the company. Titan Minerals is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Titan Minerals and seek advice from a qualified investment advisor.
Nevada Gold Mines (NGM) continues to demonstrate the impact of Barrick Gold Corporation's (NYSE:GOLD)(TSX:ABX) strategy of combining the best assets with the best people as new projects and prospects secure its future as a high-quality, long-life operation for decades to come, says NGM chairman Mark Bristow.
Speaking during a visit by a group of equity analysts and investors to see first-hand the development of the Goldrush underground project, the open pit operations and processing facilities at Cortez, and the Third Shaft project and core shack at Turquoise Ridge, Bristow said NGM had unlocked significant synergies by consolidating mines, teams, processing facilities and landholdings.
Since the formation of the joint venture with Newmont three years ago, NGM has produced 10 million ounces of gold (on a 100% basis) and distributed significant cashflows to the joint venture partners. Barrick operates NGM, the world's largest gold mining complex, and owns 61.5% of the business with Newmont Corporation holding the rest.
NGM has also added 14.7 million ounces of proven and probable mineral reserves (on a 100% basis before depletion) 2, 4 ,5 and 8.5 million ounces of inferred mineral resources (on a 100% basis) 3 ,4,5 . This growth has been further enhanced by Barrick's wholly-owned Fourmile project with 0.35 million ounces of indicated mineral resources and 2.2 million ounces of inferred mineral resources as at December 31, 2021, 5 which is not currently included in the NGM joint venture.
Bristow said that greatly improved knowledge of the orebodies had supported robust 10-year plans and increased the pre-merger life of mine substantially, while new opportunities for further optimization as well as new discoveries and innovations continued to extract more value from the assets.
"NGM's flagship development project is Goldrush, a world-class underground deposit at the Cortez complex, with a life of mine plan 1 in excess of 20 years. It is expected to employ 500 people during construction and 570 during operation," he said.
"NGM has also built strong relations across the full spectrum of the mines' stakeholders, and its wide-ranging support for educational and other community development initiatives is securing its social license as a valuable partner with Nevada and its people."
These initiatives include support for the College of Southern Nevada, its partnership with Discovery Education as well as its ongoing work with the University of Nevada, Reno and the Great Basin College to develop mining-focused curricula.
"Internally, NGM has launched a unique talent development program at their ‘training mines' for underground and surface mining as well as process operations with the aim of providing the company with well-rounded, safety-focused employees and maintaining quality control through structured, comprehensive, competency-based training. In addition, leadership development programs have been rolled out with a focus on safety," said Greg Walker, Executive Managing Director.
The scientific and technical information contained in this press release has been reviewed and approved by Craig Fiddes, SME-RM, Manager – Resource Modeling, Nevada Gold Mines; John Steele, CIM, Metallurgy, Engineering and Capital Projects Executive; and Rodney Quick, MSc, Pr.Sci.Nat, Mineral Resource Management and Evaluation Executive — each a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects .
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to Barrick's and NGM's strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "projects", "prospects", "secure", "future", "support", "continue", "expect", "potential", "will", and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: NGM's plans for its next growth phase including the potential for new opportunities and discoveries and the future inclusion of Barrick's Fourmile project in the joint venture; opportunities for further optimization of NGM's mine plans; NGM's ability to replace reserves depleted by production the anticipated mine life and benefits of the Goldrush project, including local employment during construction and operation; Barrick's and NGM's strategy, plans, targets and goals in respect of social issues, including local community relations and investments; and the anticipated safety benefits of NGM's training and leadership development programs.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with Goldrush and projects in the early stages of evaluation and for which additional engineering and other analysis is required; risks related to the possibility that future exploration results will not be consistent with the Company's expectations, that quantities or grades of reserves will be diminished, and that NGM's resources may not be converted to reserves; risks associated with the fact that certain of the initiatives described in this press release are still in the early stages and may not materialize; changes in mineral production performance, exploitation and exploration successes; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; the speculative nature of mineral exploration and development; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in the United States or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in certain of the jurisdictions in which Barrick operates; timing of receipt of, or failure to comply with, necessary permits and approvals, including for the development of Goldrush; non-renewal of or failure to obtain key licenses by governmental authorities; failure to comply with environmental and health and safety laws and regulations; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; the liability associated with risks and hazards in the mining industry, and the ability to maintain insurance to cover such losses; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; damage to the Company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company's handling of environmental matters or dealings with community groups, whether true or not; risks related to operations near communities that may regard Barrick's operations as being detrimental to them; litigation and legal and administrative proceedings; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly controlled assets; risks related to disruption of supply routes which may cause delays in construction and mining activities; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with Barrick's infrastructure, information technology systems and the implementation of Barrick's technological initiatives; global inflationary pressures driven by supply chain disruptions caused by the ongoing Covid-19 pandemic and global energy cost increases following the invasion of Ukraine by Russia; risks related to the demands placed on the Company's management, the ability of management to implement its business strategy and enhanced political risk in certain jurisdictions; uncertainty whether some or all of Barrick's targeted investments and projects will meet the Company's capital allocation objectives and internal hurdle rate; business opportunities that may be presented to, or pursued by, the Company; our ability to successfully integrate acquisitions or complete divestitures; risks related to competition in the mining industry; employee relations including loss of key employees; availability and increased costs associated with mining inputs and labor; and risks associated with diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic. Barrick also cautions that its 2022 guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. 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. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Halcones Precious Metals Corp. ( TSXV: HPM) ("Halcones" or the "Company") is pleased to announce that the Company's common shares have been listed and admitted to trade on the TSX Venture Exchange (the "TSXV"), with trading to commence as of the opening of market today under the symbol "HPM". The Company completed its qualifying transaction with Halcones Precious Metals Inc., as previously announced in its press release dated September 20, 2022, and further details can be found in the Company's filing statement (the "Filing Statement") dated September 13, 2022. The Filing Statement is available under the Company's profile on SEDAR at www.sedar.com.
Halcones is a publicly-traded company which owns an option (the "Option") to acquire 100% of the right, title and interest of the Carachapampa project located in Diego de Almagro, Copiapo, Chile (the "Carachapampa Project" or the "Project").
The Carachapampa Project is located within the northeast part of the Maricunga Belt. The property is tied onto the Nueva Esperanza Property of Kingsgate which is a recent discovery. Other important deposits in the region include Salares Norte (Goldfields) and La Coipa (Kinross). The Project comprises 12 claims covering 2,868 hectares and is 2 km southeast of the Chimberos deposit, gold-silver past producing open pit mine.
The Carachapampa Project and adjacent production and development projects are part of a high sulfidation, epithermal gold environment. An important aspect of the area is that the erosional level is such that the mineralized zones now occur relatively close to or at the surface in this part of the belt. There is a thin layer of post-mineralization volcanic cover and the basement rocks can be prospected through windows in the cover. A second critical criterion is that high sulfidation deposits occur on the flank of volcanic domes. Two such volcanic domes have been identified on the Project. There are four main target areas identified to date on the Carachapampa Project, all with disseminated gold mineralization. Recent trenching in the Northeast Target returned values of up to 20.9 g/t gold in disseminated mineralization, not in veins. This area also features a well-defined IP anomaly (resisitivity and chargeability) associated with the window of basement rocks that were sampled through the volcanic cover.
The technical information in this news release has been prepared by David Gower, a director of Halcones, and a "qualified person" as defined in NI 43-101.
The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
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 press release.
This press release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Although the Company 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 the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to timing for the commencement of trading of the Company's shares on the TSXV and the development of the Carachapampa Project and other mining projects and prospects thereof. Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements.
The forward-looking statements contained in this news release represent the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Tempus Resources Ltd ("Tempus" or "the Company") (ASX:TMR)(TSXV:TMRR)(OTC:TMRFF) is pleased to announce assay results for drill-holes EZ-22-11, EZ-22-12, and EZ-22-13 completed at the Elizabeth Gold Project. All seven holes reported today targeted the extension of the Blue Vein gold mineralisation
Tempus Resources, President and CEO, Jason Bahnsen, commented "Today we announce results for three more drill holes from the Blue Vein. Each of the holes intersected wide zones of sheared quartz veining with individual high-grade intersections of up to 85g/t gold. The high-grade Blue Vein gold mineralisation zone has now been extended to approximately 180 metres strike length with the overall thickness of the quartz vein structure increasing in apparent thickness as the drilling moves north east."
Drilling to date shows that the Blue Vein is not a single structure. Each of the drill-holes being reported today (EZ-22-11, EZ-22-12, EZ-22-13) successfully hit Blue Vein gold mineralisation in multiple sub parallel closely spaced intersections continuing to demonstrate the potential for multiple stacked high-grade gold vein mineralisation within a wider Blue Vein structure.
The Blue Vein was discovered in late-2021 (EZ-21-12 including 1.0m at 33.7g/t gold), with assay results now received for 13 holes in 2022 plus 7 holes in 2021 for a total of 20 drill-holes intersecting the Blue Vein to date (including seven holes with ‘bonanza' grade intersections, i.e., greater than 1oz per tonne), high-grade gold mineralisation has now been defined over a strike length of over 200 metres and a vertical distance of up to 15 metres, with a high and ‘bonanza' grade chute interpreted over the first 180 metres of that strike length. The 2022 drilling program has been upsized and continues to test the Blue Vein structure over a total strike length of approximately 400 metres.
Table 1 -Elizabeth Blue Vein EZ-22-11 to EZ-22-13 Significant Intersections
*true thickness is estimated using a multiplier of 0.85. **The Company considers anything over 0.2 g/t gold as significant.
As of the date of this news release, Tempus has completed 30 drill holes for a total of 7,260 metres at the Elizabeth Project so far during the 2022 field season. Tempus is planning to continue drilling until the end of October, targeting an additional 10 drill holes (approximately 2,000 metres) to be completed this season. The drilling data from this season and the 2021 drill season (28 drill holes) will contribute to a new Mineral Resource estimate, which depending on the timing of assay receipts is expected to be complete around Q1 2023.
Figure 1 - Elizabeth plan view showing 2022 drill-hole locations
Figure 2 - Elizabeth Blue Vein long section (looking northwest)
This announcement has been authorised by the Board of Directors of Tempus Resources Limited.
Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Bernales consents to the inclusion of the data in the form and context in which it appears.
Tempus Resources LTD Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181
Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTCQB ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' 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 and the other risks and uncertainties disclosed under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and nine months ended March 31, 2022 dated May 16, 2022 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.
Neither the ASX Exchange, the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Table 1:Drill Hole Collar Table
Table 1: Drill Hole Collar Table
*true thickness is estimated using a multiplier of 0.85. The Company considers anything over 0.2 g/t gold as significant. **no significant intervals
Appendix 2: The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Elizabeth - Blackdome Gold Project
Section 1: Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)
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Newmont Corporation (NYSE: NEM, TSX: NGT) today announced a series of executive leadership appointments to strategic technical and operational roles within the Company.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220921006032/en/
Aaron Puna, Executive Vice President and Chief Technology Officer (Photo: Business Wire)
Newmont announced that Aaron Puna will join the Company's Executive Leadership Team as Executive Vice President and Chief Technology Officer effective January 2023. A seasoned industry leader with experience across a diverse range of commodities, Aaron further strengthens Newmont's technical, operational and management capability. Aaron most recently served as CEO of Anglo American's copper business in Chile following a series of operating and technical positions within that organization including as Group Head of Open Pit Mining.
As CEO of Anglo American in Chile, he oversaw all company activities in country, including three operations and a joint venture, a workforce of over 16,500 and external stakeholder engagement. Aaron led the implementation of Anglo American's autonomous haulage fleet at high altitude operations and has driven the country's copper production to over 600,000 tonnes per annum.
"Aaron has a demonstrated track record of safely delivering results and his technical and operating skills will further strengthen our global business," said Tom Palmer, Newmont President and CEO. "Aaron will also bring key strategic leadership to Newmont as we progress our strategic alliance with Caterpillar to deliver the mining industry's first end-to-end zero emissions mining system."
Aaron has a strong commitment to sustainability, continuous improvement and performance. He brings global experience having worked in Australia, Venezuela, the United Kingdom and Chile. He holds a bachelor's of Engineering – Mining and Mineral Engineering and advanced management qualifications from London Business School.
Newmont also announced the appointment of two senior regional leaders to new roles.
Mark Rodgers, currently Senior Vice President – North America, will transition to the role of Senior Vice President – South America in October following the retirement of Alwyn Pretorius. A highly experienced mining executive, Mark has worked across multiple commodities, with extensive experience in running mining operations, and has led teams to deliver significant safety, productivity, technology and cost improvements.
With Mark's appointment to lead the South America region, Newmont has been able to further leverage its deep bench of experienced leaders and is promoting Bernard Wessels, currently General Manager - Peñasquito, to the role of Senior Vice President – North America, also effective in October. Bernard is a respected operational leader, holding general manager roles of both open cut and underground gold and platinum mines across his 20-year career. Prior to the General Manager – Peñasquito role, Bernard was Vice President – Productivity, Africa, as well as General Manager of Newmont's Ahafo operations in Ghana.
Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220921006032/en/
Media Contact Courtney Boone 303.837.5159 courtney.boone@newmont.com
Investor Contact Daniel Horton 303.837.5468 daniel.horton@newmont.com
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