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BINDING 200KT TOLL MILLING AGREEMENT EXECUTEDWITH FMR INVESTMENTS

by Montpellier Montpellier No Comments

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to announce that it has entered into a binding Toll Milling Agreement (“TMA”) with FMR Investments Pty Ltd (“FMR”) to treat 200kt of Horizon ore from the Cannon underground project, or other deposit, commencing in the December 2024 Quarter.
HIGHLIGHTS

  1. Binding TMA has been executed with FMR, which owns the Greenfields Mill located northeast of Coolgardie and 30km southwest of Kalgoorlie-Boulder in WA
  2. Horizon will arrange contract mining and hauling of ore from Cannon for ore processing at FMR’s 1.0Mtpa Greenfields Mill, located ~67km by road from the Cannon Project
  3. An agreed 200kt of ore will be processed over a period of eight months, commencing in the December 2024 Quarter
  4. The TMA contains competitive ore treatment rates with the payment structure as follows:
    o Horizon is responsible for delivery of each stockpile to the Greenfields Mill ROM near Coolgardie
    o Payment of processing costs must be made before the value of the processed and refined gold at the Perth Mint is transferred from FMR’s metal account to Horizon
    o If the delivery schedule is missed Horizon will forfeit its allocated tones for that month and from the overall 200kt allocation
  5. An Ore Reserve for Cannon has already been established including forecast economics for the ore to be processed via a Toll Milling Agreement

Click here to view full ASX announcement

Learn more about Horizon Minerals at: HorizonMinerals.com.au

Pasofino Gold Announces Start of Drilling at ‘Bukon Jedeh’, Dugbe Gold Project in Liberia

by Montpellier Montpellier No Comments

oronto, Ontario–(Newsfile Corp. – April 16, 2024) – Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) (“Pasofino” or the “Company“) is pleased to announce the arrival of a drilling rig and crews at the Bukon Jedeh ‘gold camp’ at the Company’s Dugbe Gold Project, Liberia. Drilling at the site is expected to commence in the coming days.

As announced on February 26, 2024, Bukon Jedeh is a priority target for gold exploration only 10 km southeast of the Company’s Dugbe Gold Project (3.3 Moz Measured and Indicated Mineral Resource Estimate[1]) and is located on a 4.1km trend of highly productive artisanal gold mining with activity for over 80 years. There are presently more than 10 artisanal-scale pits with gold being extracted from bedrock up to 60 m below surface.

Click here to read full announcement

Learn more about Pasofino Gold by visiting their website: Pasofinogold.com

Horizon Minerals: Lithium Exploration Update

by Montpellier Montpellier No Comments

A small first pass, site reconnaissance soil and rock chip sampling program was completed 6-10 November 2023 at the newly acquired Bridgetown-Greenbushes project 250km south of Perth WA. No anomalous lithium was identified in 3 rock chip samples taken. Some encouragement was noted on E70/5981 where a micaceous felsic schist sample (MRP049763) recorded elevated values of 150ppm Be, 227ppm Rb and 128ppm Sn.

Roadside verge soil sampling was also conducted on E70/5980-5981 and E70/6551 centred about 10km south east of the Greenbushes mine. A total of 33 samples were taken overall with several areas returning anomalous lithium up to 91.9ppm Li against a background of about 20-40ppm Li.

234 pulps were retrieved from the 2021-2022 RC gold program at Yarmany and resubmitted for lithium and pathfinder geochemistry late in January 2024. The RC holes targeted gold where historic drilling had discovered anomalous mineralisation. No pegmatites were logged however on a routine drilling review in 2023, large zones, 20-30m wide, of white, pallid clays beneath a transported profile were noted. Elevated results from the pulps include:

4m @ 72.5ppm Cs, 30ppm Nb, 417.2ppm Rb and 55.5ppm Ta (YMRC22035 56-60m)

8m @ 93ppm Li (adjacent hole YMRC21036 20-28m, background values were 20- 40ppm Li)

All but one of the 2021-2022 drill holes, including YMRC21035-21036, lie outside the proposed anomalous soil areas. The above results do not confirm pegmatites or spodumene mineralisation, they do however indicate that pathfinders and lithium are active and requires further investigation.

Click here to read the full ASX Announcement

Horizon And Greenstone Merger Announcement

by Montpellier Montpellier No Comments

Horizon Minerals Limited (ASX: HRZ) and Greenstone Resources Limited (ASX: GSR) have agreed to a merger to be conducted by way of schemes of arrangement under the Corporations Act 2001 (Cth), whereby Horizon will acquire 100% of the fully paid ordinary shares in Greenstone (Share Scheme) and 100% of the listed Greenstone options (Options Scheme, and together with the Share Scheme, the Schemes), subject to the satisfaction of various conditions.

Under the Schemes:

Each Greenstone shareholder will receive 0.2868 Horizon shares for every Greenstone share held; and

Each Greenstone listed option holder will receive 0.2868 new Horizon listed options for every listed Greenstone option held.

Based on the last trading price of Horizon and Greenstone, the exchange ratio under the Share Scheme represents:

An 89% premium to Greenstone’s last traded price on 9 February 2024 of $0.0055; and

A 40% premium to the 30-day volume weighted average price (VWAP) of $0.0074 per Greenstone share for the period up to 9 February 2024.

Horizon shareholders will own 63.1% of the merged entity while Greenstone shareholders will own the remaining 36.9%.

Click here to read the full ASX Announcement

Kobo Resources to Attend the 2024 Vancouver Resource Investment Conference

by Montpellier Montpellier No Comments

Mr. Edward Gosselin, Chief Executive Officer, and Mr. Paul Sarjeant, President and Chief Operating Officer to attend the 2024 Vancouver Resource Investment Conference exhibiting at booth 733

QUEBEC CITY, QC – Kobo Resources Inc. (“Kobo” or the “Company“) (TSX.V: KRI) is pleased to announce its participation in the upcoming 2024 Vancouver Resource Investment Conference (the “VRIC”) in Vancouver on January 21-22, 2024.

The VRIC has been the epicentre of junior mining investment in Canada for 25 years and attracts over 5,000 mining investors annually. The VRIC will include a marketplace of over 300 investment opportunities in the mining industry, spanning early-stage exploration to advanced producing mines. 

This conference offers an unparalleled opportunity for Kobo to showcase the recent exploration progress at its 100%-owned Kossou Gold Project and planned initiatives for 2024. The conference’s schedule includes curated meetings that pair investors with suitable projects, complemented by expert commentary and insights on the latest trends and developments in the mining industry.

Investors interested in attending the VRIC can register here: https://cambridgehouse.com/vancouver-resource-investment-conference. Kobo invites attendees to visit its booth where they will have the opportunity to engage directly with the Company’s management team and learn more about Kobo’s recent exploration efforts and upcoming plans.

Click here to read the full news release

Kyzyltash BIOX Metallurgical Test Results

by Montpellier Montpellier No Comments

Chaarat Gold (AIM: CGH), the AIM-quoted gold mining company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, is pleased to announce the completion of the Bio-oxidation (“BIOX”) first phase metallurgical test programme performed by SGS Lakefield on its Kyzyltash gold project. The project has an unconstrained JORC-compliant Measured, Indicated and Inferred sulphide resource of 5.4 million ounces of gold at 3.8 g/t. Management estimate that the project has the potential to produce approximately 300koz per annum of gold subject to the project meeting its feasibility, permitting and development milestones.

Click here to read the full announcement

Learn more about Chaarat Gold: chaarat.com

Condor Announces Feasibility Study For La India Open Pit.

by Montpellier Montpellier No Comments

Condor Gold (AIM: CNR; TSX: COG) is pleased to announce the results and details of a Feasibility Study, sometimes referred to as a Bankable Feasibility Study (“2022 FS”) on the La India open pit. The 2022 FS supports a Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold and a mine with an Internal Rate of Return (“IRR”) of 23% and a post tax and post upfront capital cost net present value (“NPV”) of US$86.9 million using a discount rate of 5% and price of US$1,600/oz gold. The 2022 FS brings the level of confidence for the Project to the industry standard of engineering design, sufficient to support +/- 15% capital and operating cost estimates.

The economic analysis in the 2022 FS (including IRR and NPV estimates) is based on the La India open pit only and does not include the Mineral Resources at the Mestiza, America, Central Breccia or El Cacao potential extractable as open pits or the Underground Mineral Resources at the La India, Mestiza, America, El Cacao, San Lucas or Cristalito-Tatescame vein sets. Condor believes there is high degree of certainty that additional open pit and underground Mineral Resources can be converted to Mineral Reserves and added to the mine plan through further studies.

Highlights: Feasibility Study La India Open Pit only

The 2022 FS demonstrates a robust and economically viable base case for the La India open pit:

  1. Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold
  2. Production averages 81,545 oz gold per annum for the first 6 years of an 8.4 year mine life
  3. An Internal Rate of Return (“IRR”) of 23% and a post tax, post upfront capital cost NPV of US$86.9 million using a discount rate of 5% and price of US$1,600 oz gold (Mineral Reserve Case).
  4. An Internal Rate of Return (“IRR”) of 43% and a post tax, post upfront capital cost NPV of US$205.2 million using a discount rate of 5% and price of US$2,000 oz gold.
  5. Low initial capital requirement of US$105.5 million (including contingency and EPCM contract)
  6. Low average Life of Mine All-in Sustaining cash costs US$1,039 per oz gold

Click here to read full ASX announcement

Learn more about Condor Gold Plc at: www.condorgold.com

PHASE 2 DRILLING COMPLETED ATMONUMENT GOLD PROJECT, WESTERN AUSTRALIA

by Montpellier Montpellier No Comments

Highlights

~6,000m drilled from 130 holes at the Monument Gold Project (MGP) located within the
Laverton Tectonic Zone, Western Australia

Drilling tested 5 prospect areas comprising two felsic intrusions and three structural targets

35 holes for 1,326m drilled at the high priority Korong felsic intrusion and 14 holes for 684m
at Aermotor, where anomalous gold mineralisation was intersected in quartz veining in
previous drilling

Deep drilling up to 114m end of hole depth encountered across the Celia Tectonic lineament,
highlighting scale and significance of weathering across the structure

All samples have been submitted to the assay laboratory with final results expected in the
next 4-6 weeks.

Click here to read full announcement

Learn more about Si6 Metals: www.si6metals.com

Gold Exploration to Commence on Australian High-Grade Targets

by Montpellier Montpellier No Comments

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN) announces that following a major corporate restructuring exercise that has made the Company debt free and with cash at bank, it now intends to commence an active exploration and drilling programme at its Wishbone II gold project in Queensland Australia.

As previously reported regarding Wishbone II, high-grade surface rock-chip samples with assays at surface up to 25.2 grams per tonne gold (“g/t Au”) at the Hanging Valley prospect have been recorded and 7.32 g/t Au were recorded at the Oaky Mill prospect on the licence.

The Wishbone II, III and IV Projects are a sizeable 14,700 hectare 100% owned group of Exploration Licences in the Mingela area located about 80km south of the major Queensland port city of Townsville. As previously reported by the Company, the area is bounded by a large shear zone structure along which historical gold mineralisation has been encountered.

Click here to read the full announcement

Learn more about Wishbone Gold plc: www.wishbonegold.com