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300E Zone
2017-01-26 07:01:00 AM ET (Marketwire Canada)
TORONTO, ON--(Marketwired - January 26, 2017) - Wesdome Gold Mines Ltd. (TSX: WDO) ("Wesdome" or the "Company") is pleased to announce recent underground drilling results from its 300E Zone (303 lens) at its wholly-owned Eagle River Mine, Wawa, Ontario.
Development completed in 2016 has provided access to drill this discovery, initially announced in a Press Release dated November 30, 2015 (www.wesdome.com).
HIGHLIGHTS INCLUDE
Hole 844-E-26 7.08 gAu/t uncut (5.86 gAu/t cut) over 8.88 m true width
Hole 844-E-27 28.72 gAu/t uncut (19.03 gAu/t cut) over 20.67 m true width
Hole 844-E-28 20.75 gAu/t uncut (13.36 gAu/t cut) over 17.94 m true width
Hole 844-E-29 89.61 gAu/t uncut (24.60 gAu/t cut) over 3.93 m true width
Hole 670-131 10.35 gAu/t uncut (10.35 gAu/t cut) over 4.32 m true width
Results are compiled in Table 1 and illustrated on the accompanying schematic cross section (Fig 1). Complete assay breakdowns of these holes are appended to assess grade distribution and internal continuity.
Duncan Middlemiss, President and CEO, commented, "These results contain potential widths of up to 20 metres and are unprecedented at Eagle River. The current proximity of these intercepts to mine infrastructure coupled with the sheer volume of high grade mineralization will potentially have near to mid-term positive production implications. Furthermore, the presence of these structures give rise to the possibility of additional zones of similar size and grade, as well as bulk mining opportunities at Eagle River."
To date, drilling has identified at least three steeply plunging pipe-like bodies between depths of 800 and 1,000 metres. Two of these have been partially delineated and remain open at depth and up plunge. We are in position to develop into these zones; confirm their dimensions, geometry and grades, and drill their extensions.
The Eagle River Mine commenced commercial production January 1, 1996. To date it has produced 1.1 million ounces of gold from 3.8 million tonnes at an average recovered grade of 9.0 gAu/tonne. The bulk of production has come from a series of tabular, steeply-inclined quartz veins hosted by an elliptical quartz diorite stock. The mine is serviced by a shaft and ramp system with the deepest development to date attaining 970 metres.
TECHNICAL DISCLOSURE
All assays are performed by fire assay on 25 gram aliquots at the Eagle River Mine assay office. Duplicates, replicates and blanks are routinely employed to monitor quality control. The technical content of this release has been compiled, reviewed and approved by George N. Mannard, P.Geo, Vice-President Exploration and "Qualified Person" as defined and required by National Instrument 43-101 "Standards of Disclosure".
ABOUT WESDOME
Wesdome Gold Mines is in its 29th year of continuous gold mining operations in Canada. The Company is 100% Canadian focused with a pipeline of projects in various stages of development. The Eagle River Complex in Wawa, Ontario is currently producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a central mill. Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d'Or, Quebec. The Kiena Complex is a fully permitted former mine with a 930 metre shaft and 2,000 tonne per day mill. The Company has further upside at its Moss Lake gold deposit, located 100 kilometres west of Thunder Bay, Ontario, which is being explored and evaluated to be developed in the appropriate gold price environment. The Company has approximately 130 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO."
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. 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, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
TABLE 1: 300E ZONE DRILLING RESULTS (303 Lens)
Hole No. From To Core Length True Width Grade Cut Grade
(m) (m) (m) (m) (g/tAu) (140 g/tAu)
844-E-26 140.85 153.45 12.60 8.88 7.08 5.86
844-E-27 143.20 186.00 42.80 20.67 28.72 19.03
844-E-28 150.35 186.90 36.55 17.94 20.75 13.36
844-E-29 204.40 214.00 9.60 3.93 89.61 24.60
670-131 538.00 543.75 5.75 4.32 10.35 10.35
TABLE 2: 300E ZONE - PREVIOUS RESULTS RELEASED NOVEMBER 30, 2015
Hole No. * From To Core Length True Width Grade Cut Grade
(m) (m) (m) (m) (g/tAu) (140 g/tAu)
670-73 271.70 276.00 4.30 2.76 13.65 11.78
670-77 304.70 307.00 2.30 2.00 48.74 37.45
670-96 316.80 320.80 4.00 3.55 5.61 5.61
670-101 343.10 346.60 3.50 2.47 3.46 3.46
670-125 427.50 467.00 39.50 32.40 8.60 6.40
inc. 427.50 435.30 7.80 6.40 5.75 5.75
and 443.90 450.00 6.10 5.50 4.04 4.04
and 458.70 467.00 8.30 6.58 31.54 21.08
670-130 512.05 528.00 15.95 11.50 14.72 14.72
inc. 512.05 518.55 6.50 5.00 24.19 24.19
and 524.35 528.00 3.65 2.10 20.68 20.68
* Holes not drilled in sequence
TABLE 3: COMPLETE ASSAY DATA FOR INTERSECTIONS
(Some internal dilution included for bulk mining scenario)
844-E-26
From To Length Uncut Cut
140.85 141.15 0.30 3.32 3.32
141.15 141.55 0.40 23.44 23.44
141.55 142.00 0.45 7.56 7.56
142.00 142.30 0.30 9.80 9.80
142.30 142.65 0.35 13.20 13.20
142.65 143.00 0.35 1.44 1.44
143.00 143.50 0.50 2.04 2.04
143.50 144.00 0.50 0.16 0.16
144.00 144.50 0.50 1.12 1.12
144.50 145.00 0.50 0.16 0.16
145.00 145.50 0.50 0.56 0.56
145.50 146.00 0.50 0.04 0.04
146.00 146.40 0.40 0.00 0.00
146.40 146.80 0.40 0.20 0.20
146.80 147.10 0.30 0.12 0.12
147.10 147.50 0.40 0.08 0.08
147.50 147.90 0.40 0.08 0.08
147.90 148.20 0.30 0.76 0.76
148.20 148.50 0.30 0.04 0.04
148.50 149.00 0.50 0.32 0.32
149.00 149.45 0.45 0.04 0.04
149.45 149.90 0.45 2.44 2.44
149.90 150.30 0.40 0.00 0.00
150.30 150.60 0.30 0.00 0.00
150.60 151.00 0.40 1.04 1.04
151.00 151.50 0.50 10.82 10.82
151.50 152.00 0.50 0.16 0.16
152.00 152.30 0.30 0.72 0.72
152.30 152.60 0.30 8.30 8.30
152.60 152.90 0.30 2.36 2.36
152.90 153.20 0.30 13.12 13.12
153.20 153.45 0.25 201.66 140.00
TOTAL: 12.60 7.08 5.86
844-E-27
From To Length Uncut Cut
143.20 143.70 0.50 5.92 5.92
143.70 144.00 0.30 19.84 19.84
144.00 144.30 0.30 6.36 6.36
144.30 144.60 0.30 1.60 1.60
144.60 144.90 0.30 0.08 0.08
144.90 145.20 0.30 0.00 0.01
145.20 145.50 0.30 0.24 0.24
145.50 145.80 0.30 9.92 9.92
145.80 146.10 0.30 68.51 68.51
146.10 146.40 0.30 53.75 53.75
146.40 146.70 0.30 0.08 0.08
146.70 147.00 0.30 0.44 0.44
147.00 147.30 0.30 0.40 0.40
147.30 147.60 0.30 0.08 0.08
147.60 147.90 0.30 0.08 0.08
147.90 148.30 0.40 14.76 14.76
148.30 148.60 0.30 0.16 0.16
148.60 148.90 0.30 0.00 0.01
148.90 149.20 0.30 6.12 6.12
149.20 149.50 0.30 0.44 0.44
149.50 149.80 0.30 1.08 1.08
149.80 150.10 0.30 0.56 0.56
150.10 150.40 0.30 1.48 1.48
150.40 150.70 0.30 1.20 1.20
150.70 151.00 0.30 1.04 1.04
151.00 151.30 0.30 11.76 11.76
151.30 151.60 0.30 0.12 0.12
151.60 152.00 0.40 0.28 0.28
152.00 152.30 0.30 13.48 13.48
152.30 152.70 0.40 59.33 59.33
152.70 153.00 0.30 72.56 72.56
153.00 153.30 0.30 59.17 59.17
153.30 153.60 0.30 43.45 43.45
153.60 153.90 0.30 6.56 6.56
153.90 154.20 0.30 33.19 33.19
154.20 154.50 0.30 121.44 121.44
154.50 154.80 0.30 24.00 24.00
154.80 155.10 0.30 53.35 53.35
155.10 155.40 0.30 621.72 140.00
155.40 155.70 0.30 213.36 140.00
155.70 156.00 0.30 50.20 50.20
156.00 156.30 0.30 35.59 35.59
156.30 156.60 0.30 48.28 48.28
156.60 156.90 0.30 43.04 43.04
156.90 157.20 0.30 24.84 24.84
157.20 157.50 0.30 2.88 2.88
157.50 157.80 0.30 464.95 140.00
157.80 158.10 0.30 165.68 140.00
158.10 158.40 0.30 1.28 1.28
158.40 158.70 0.30 9.80 9.80
158.70 159.00 0.30 0.56 0.56
159.00 159.30 0.30 3.08 3.08
159.30 159.60 0.30 12.40 12.40
159.60 159.90 0.30 0.40 0.40
159.90 160.20 0.30 0.16 0.16
160.20 160.50 0.30 0.88 0.88
160.50 160.80 0.30 1.16 1.16
160.80 161.10 0.30 1.48 1.48
161.10 161.40 0.30 0.00 0.01
161.40 161.70 0.30 0.00 0.01
161.70 162.00 0.30 0.00 0.01
162.00 162.30 0.30 0.00 0.01
162.30 162.60 0.30 7.24 7.24
162.60 162.90 0.30 0.00 0.01
162.90 163.20 0.30 176.88 140.00
163.20 163.50 0.30 31.27 31.27
163.50 163.80 0.30 0.00 0.01
163.80 164.10 0.30 0.14 0.14
164.10 164.40 0.30 0.56 0.56
164.40 164.70 0.30 0.44 0.44
164.70 165.00 0.30 0.04 0.04
165.00 165.30 0.30 0.48 0.48
165.30 165.60 0.30 0.00 0.01
165.60 165.90 0.30 0.08 0.08
165.90 166.20 0.30 1.00 1.00
166.20 166.50 0.30 103.67 103.67
166.50 166.80 0.30 2.40 2.40
166.80 167.10 0.30 7.04 7.04
167.10 167.40 0.30 1.56 1.56
167.40 167.70 0.30 7.36 7.36
167.70 168.00 0.30 0.16 0.16
168.00 168.30 0.30 1.12 1.12
168.30 168.60 0.30 13.36 13.36
168.60 168.90 0.30 24.16 24.16
168.90 169.20 0.30 10.08 10.08
169.20 169.50 0.30 9.72 9.72
169.50 169.80 0.30 0.76 0.76
169.80 170.10 0.30 0.72 0.72
170.10 170.40 0.30 3.84 3.84
170.40 170.70 0.30 0.00 0.01
170.70 171.00 0.30 6.28 6.28
171.00 171.30 0.30 1.24 1.24
171.30 171.60 0.30 21.05 21.05
171.60 171.90 0.30 0.00 0.01
171.90 172.20 0.30 0.48 0.48
172.20 172.50 0.30 0.56 0.56
172.50 172.80 0.30 8.20 8.20
172.80 173.10 0.30 22.16 22.16
844-E-28
From To Length Uncut Cut
150.35 150.65 0.30 77.23 77.23
150.65 151.00 0.35 194.16 140.00
151.00 151.35 0.35 1.36 1.36
151.35 151.70 0.35 0.12 0.12
151.70 152.10 0.40 0.76 0.76
152.10 152.50 0.40 0.28 0.28
152.50 152.90 0.40 0.12 0.12
152.90 153.30 0.40 0.24 0.24
153.30 153.70 0.40 0.00 0.01
153.70 154.10 0.40 0.00 0.01
154.10 154.50 0.40 0.04 0.04
154.50 154.90 0.40 0.00 0.01
154.90 155.30 0.40 0.00 0.01
155.30 155.80 0.50 0.00 0.01
155.80 156.20 0.40 0.16 0.16
156.20 156.70 0.50 0.00 0.01
156.70 157.10 0.40 0.04 0.04
157.10 157.55 0.45 0.32 0.32
157.55 158.00 0.45 0.00 0.01
158.00 158.50 0.50 0.20 0.20
158.50 159.00 0.50 0.84 0.84
159.00 159.40 0.40 15.16 15.16
159.40 159.80 0.40 3.84 3.84
159.80 160.20 0.40 7.24 7.24
160.20 160.60 0.40 0.20 0.20
160.60 161.00 0.40 8.12 8.12
161.00 161.40 0.40 11.56 11.56
161.40 161.80 0.40 0.08 0.08
161.80 162.10 0.30 1.44 1.44
162.10 162.40 0.30 637.16 140.00
162.40 162.70 0.30 115.88 115.88
162.70 163.00 0.30 149.37 140.00
163.00 163.40 0.40 0.32 0.32
163.40 163.90 0.50 0.88 0.88
163.90 164.30 0.40 0.76 0.76
164.30 164.70 0.40 4.28 4.28
164.70 165.00 0.30 2.76 2.76
165.00 165.50 0.50 1.68 1.68
165.50 165.80 0.30 9.24 9.24
165.80 166.20 0.40 1.44 1.44
166.20 166.50 0.30 0.28 0.28
166.50 167.00 0.50 0.76 0.76
167.00 167.50 0.50 0.40 0.40
167.50 168.00 0.50 6.72 6.72
168.00 168.45 0.45 13.48 13.48
168.45 168.75 0.30 13.96 13.96
168.75 169.10 0.35 2.44 2.44
169.10 169.45 0.35 9.08 9.08
169.45 169.85 0.40 3.92 3.92
169.85 170.15 0.30 10.68 10.68
170.15 170.60 0.45 34.45 34.45
170.60 171.05 0.45 1.64 1.64
171.05 171.35 0.30 0.66 0.66
171.35 171.55 0.20 1.12 1.12
171.55 172.00 0.45 0.16 0.16
172.00 172.35 0.35 9.64 9.64
172.35 172.65 0.30 8.76 8.76
172.65 173.00 0.35 206.29 140.00
173.00 173.25 0.25 421.38 140.00
173.25 173.65 0.40 24.24 24.24
173.65 174.00 0.35 104.85 104.85
174.00 174.35 0.35 4.72 4.72
174.35 174.65 0.30 18.72 18.72
174.65 175.00 0.35 15.60 15.60
175.00 175.40 0.40 0.44 0.44
175.40 175.80 0.40 5.56 5.56
175.80 176.20 0.40 1.64 1.64
176.20 176.50 0.30 3.56 3.56
176.50 176.80 0.30 0.76 0.76
176.80 177.20 0.40 2.68 2.68
177.20 177.60 0.40 5.76 5.76
177.60 178.00 0.40 1.60 1.60
178.00 178.40 0.40 2.56 2.56
178.40 178.85 0.45 1.44 1.44
178.85 179.25 0.40 1.08 1.08
179.25 179.60 0.35 1.56 1.56
179.60 180.00 0.40 0.00 0.01
180.00 180.40 0.40 0.08 0.08
180.40 180.80 0.40 0.00 0.01
180.80 181.20 0.40 0.00 0.01
181.20 181.60 0.40 0.00 0.01
181.60 182.00 0.40 0.00 0.01
182.00 182.40 0.40 0.00 0.01
182.40 182.70 0.30 0.00 0.01
182.70 183.00 0.30 45.16 45.16
183.00 183.40 0.40 3.28 3.28
183.40 183.80 0.40 1.56 1.56
183.80 184.10 0.30 1.36 1.36
184.10 184.45 0.35 8.68 8.68
184.45 184.85 0.40 0.84 0.84
184.85 185.20 0.35 2.76 2.76
185.20 185.65 0.45 1.24 1.24
185.65 186.00 0.35 13.02 13.02
186.00 186.30 0.30 2.20 2.20
186.30 186.60 0.30 159.61 140.00
186.60 186.90 0.30 2.64 2.64
TOTAL: 36.55 20.75 13.36
844-E-29
From To Length Uncut Cut
204.40 204.70 0.30 3.88 3.88
204.70 205.00 0.30 22.48 22.48
205.00 205.30 0.30 0.04 0.04
205.30 205.60 0.30 3.32 3.32
205.60 205.90 0.30 0.00 0.01
205.90 206.40 0.50 5.76 5.76
206.40 206.90 0.50 0.44 0.44
206.90 207.40 0.50 0.32 0.32
207.40 207.70 0.30 0.40 0.40
207.70 208.20 0.50 0.00 0.01
208.20 208.70 0.50 0.00 0.01
208.70 209.00 0.30 2.36 2.36
209.00 209.30 0.30 0.84 0.84
209.30 209.60 0.30 8.16 8.16
209.60 209.90 0.30 609.44 140.00
209.90 210.20 0.30 645.40 140.00
210.20 210.50 0.30 1021.54 140.00
210.50 210.80 0.30 19.32 19.32
210.80 211.10 0.30 2.40 2.40
211.10 211.40 0.30 0.28 0.28
211.40 211.70 0.30 0.88 0.88
211.70 212.00 0.30 0.04 0.04
212.00 212.30 0.30 4.16 4.16
212.30 212.60 0.30 0.56 0.56
212.60 212.90 0.30 0.56 0.56
212.90 213.20 0.30 88.31 88.31
213.20 213.60 0.40 307.92 140.00
213.60 214.00 0.40 8.76 8.76
TOTAL: 9.60 89.61 24.60
670-131
From To Length Uncut Cut
538.00 538.30 0.30 33.38 33.38
538.30 538.60 0.30 5.88 5.88
538.60 538.90 0.30 6.76 6.76
538.90 539.20 0.30 0.00 0.01
539.20 539.50 0.30 0.00 0.01
539.50 539.80 0.30 0.48 0.48
539.80 540.10 0.30 3.84 3.84
540.10 540.40 0.30 0.52 0.52
540.40 540.70 0.30 4.36 4.36
540.70 541.00 0.30 6.48 6.48
541.00 541.30 0.30 93.10 93.10
541.30 541.60 0.30 9.50 9.50
541.60 541.90 0.30 11.24 11.24
541.90 542.20 0.30 0.16 0.16
542.20 542.50 0.30 0.00 0.01
542.50 542.80 0.30 0.00 0.01
542.80 543.25 0.45 12.36 12.36
543.25 543.75 0.50 2.44 2.44
TOTAL: 5.75 10.35 10.35
Image Available: http://www.marketwire.com/library/MwGo/2017/1/25/11G128435/Images/Fig1Wesdome-7e67500ee699bd70b1d941ccbaa6d5a2.jpg Image Available: http://www.marketwire.com/library/MwGo/2017/1/25/11G128435/Images/Fig2Wesdome-dec16b304207a2a88a03adcfab16a3cb.jpg
For further information, please contact: Duncan Middlemiss President and CEO 416-360-3743 ext. 29dmiddlemiss@wesdome.com Lindsay Carpenter Dunlop VP Investor Relations 416-360-3743 ext. 25ldunlop@wesdome.com 8 King St. East, Suite 811 Toronto, ON, M5C 1B5 Toll Free: 1-866-4-WDO-TSX Phone: 416-360-3743 Fax: 416-360-7620 Website: www.wesdome.com
Private Placement Financing and Granting of Options
2017-01-25 10:36:00 PM ET (ACCESSWIRE)
MONTREAL, QC / ACCESSWIRE / January 25, 2017 / Manganese X Energy Corp. (TSX-V: MN) (FSE: 9SC2) (OTC PINK: SNCGF) (the "Company") is pleased to announce it has completed an initial tranche of the previously disclosed non-brokered private placement financing (the "Financing") consisting of 4,387,000 units ("Units") at a price of $0.15 per Unit for gross proceeds of $658,050.00 and 2,106,667 "flow-through" shares ("FT Shares") at a price of $0.15 per FT Shares for gross proceeds of $316,000.05. The Company proposes to close the second tranche of the Financing in February, which will consist of up to 1,506,333 FT Shares at a price of $0.15 per FT Shares for maximum proceeds of $225,949.95. There can be no assurance that the second tranche of the Financing will be completed, whether in whole or in part.
Each Unit consists of one common share ("Common Share") of the Company and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase a Common Share at $0.25 per share for a period of 24 months from closing.
All securities issued in connection with the Financing are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws. A portion of the Financing constitutes a "related party transaction" under Multilateral Instrument 61-101 ("MI 61-101") as officers and directors of the Company participated in the Financing. The Financing is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Financing as the details of the participation of the related parties of the Company had not been confirmed at that time.
First Republic Capital Corporation ("First Republic") acted as the lead finder for the Financing. A cash fee was paid to finders representing 8% of the gross proceeds raised in the Financing. Additionally, finders received that number of compensation warrants ("Compensation Warrants") totaling 8% of the number of Units and FT Shares sold pursuant to the Financing. The Compensation Warrants are exercisable at a price of $0.15 per Unit or per Common Shares, as the case may be, for a period of 24months after the closing of the Financing. First Republic was paid a corporate finance fee representing 2% of the gross proceeds raised in the Financing and that number of Compensation Warrants equaling 2% of the number of Units and FT Shares sold in the Financing.
Proceeds from the Financing will be used for exploration, growth, research and development, marketing, and general working capital purposes.
Granting of Options
In addition, the Company is pleased to announce that the Company has granted 300,000 incentive stock options to the members of the Advisory Board. The options are exercisable at $0.18 per option for a period of 3 years from the date of grant and have no vesting conditions. The options are being issued under the terms of the Company's Stock Option Plans which were approved by shareholders at the Company's Annual General and Special Meeting on April 21, 2016. The Option Plan has been submitted, in the normal course to the TSX Venture Exchange for approval and no options can be exercised prior to the receipt of this approval.
Manganese X Energy's mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition our company is striving to achieve new methodologies emanating from environmentally friendly green/zero emissions ,while processing manganese.at a lower competitive cost For more information visit the website at www.manganesexenergycorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Martin Kepman
Interim CEO and Director
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
SOURCE: Manganese X Energy Corp.
2017-01-25 03:17:00 PM ET (Marketwired)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 25, 2017) - HAWKEYE Gold & Diamond Inc. (the "Company" or "HAWKEYE") (TSX VENTURE:HGO)(FRANKFURT:HGT)(ISIN:CA42016R3027)(WKN:A12A61): announces it has arranged to complete a non-brokered private placement to sell up to 500,000 units (the "Units") in the capital of the Company at a price of $0.10 per Unit for total proceeds of $50,000 (Cdn.). Each Unit shall consist of one (1) common share (a "Share") in the capital of the Corporation and one share purchase warrant. Each Warrant will entitle the holder to purchase one (1) additional Share (a "Warrant Share") for fifteen cents ($0.15) at any time prior to 4:30 p.m. (Vancouver time) on the date which is twelve months from the Closing Date, at which time the Warrants will expire; provided that if at any time after the Closing Date the Corporation's Shares have a closing price of Cdn. $0.15 or more per Share for ten (10) consecutive trading days on TSX-V, the Corporat ion shall be entitled to give notice to the holders of the Warrants, that the Warrants will expire thirty (30) days from the date of mailing or news release of such notice unless exercised before the expiry of that period, and in such event all unexercised Warrants will expire at 4:30 p.m. (Vancouver Time) on the last day of such thirty (30) day period.
Proceeds from the private placement will be used for trades, general working capital and property acquisition.
The private placement will be subject to a four (4) month hold from closing and completion is subject to receipt of applicable regulatory approvals and finder's fees may be paid on a portion of the offering.
HAWKEYE also announces it has granted an aggregate of 500,000 incentive stock options to consultants of the Issuer pursuant to the Company's Stock Option Plan. The options have an exercise price of $0.12 per share and an expiry date of January 24, 2027.
About the Company
HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia, Canada and is publicly traded on the TSX Venture Exchange under the trading symbol HGO and the Frankfurt Exchange under the ticker HGT; ISIN# CA42016R3027 and WKN# A12A61. HAWKEYE's Corporate mandate is to build strong asset value through the acquisition of low-cost, high-potential cash flowing mining production opportunities with blue sky discovery upside, managing our business activities in an environmentally responsible manner while contributing to the well-being of the local Community and Economy. Our goal is significant growth through Revenue and Cash flowing Projects, ultimate production through Discovery on our blue sky properties, to provide early return on investment and significant growth to maximize shareholder value.
HAWKEYE GOLD & DIAMOND INC.
Per:
Greg Neeld, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Notes Regarding Forward Looking Statements
This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to act ual results.
Issued: 16,894,231 shares
HAWKEYE Gold & Diamond Inc. Greg Neeld President & CEO Vancouver: (778) 379-5393 greg@hawkeyegold.comwww.hawkeyegold.com
After PEA Release
2017-01-25 12:33:00 PM ET (MT Newswires)
12:33 PM EST, 01/25/2017 (MT Newswires) -- Graphite One Resources Inc. (GPH.V) is down nearly 14% after announcing the results of its Preliminary Economic Assessment for its 100%-owned Graphite One manufacturing project.
The PEA projects a Net Present Value of US$1.037 billion using a 10% discount rate, with an Internal Rate of Return of 27%. Annual production of CSG and other graphite specialty materials is projected at 55,350 metric tonnes when full production is reached in Year 6. A minimum of 40 years of indicated and inferred resources grading 7% Cg (graphite) have been identified in the target exploitation zone to sustain full scale operations, notwithstanding additional potential resources immediately outside the target zone or the broader Graphite Creek property.
Price: 0.095, Change: -0.015, Percent Change: -13.64
2017-01-25 11:28:00 AM ET (Marketwired)
MONTREAL, QUEBEC--(Marketwired - Jan 25, 2017) - Beaufield Resources Inc. ("Beaufield") (TSX VENTURE:BFD) is pleased to report that drilling is presently underway at the Rouleau gold zone in the emerging Windfall-Urban gold camp where Beaufield's 12,900 hectare, 100% owned holdings are strategically and centrally located. The property also adjoins Osisko Mining's Windfall property, where a 400,000 metre drilling program is underway.
Beaufield's current winter program is setting the stage for expanded spring-summer exploration and drilling. The program is focusing on four key areas identified below:
Rouleau Gold Zone
The drill program will continue advancing the potential of the historic Rouleau Gold Zone. Totalling at least 2,000 metre, the program will provide more data for the model prepared by Geologica Groupe-Conseil of Val d'Or and will systematically work deeper and along strike where mineralization remains open in these directions.
A review of historical drill holes indicates significant historical intersections at depth where drilling is very limited. Historical hole 101-68 encountered 5.82 g/t Au over 6 metres at a vertical depth of approximately 400 metres (MERN Report GM47491). Improvement at depth is currently being reported by operators on adjoining properties.
Drilling will also be undertaken on the presumed eastern extension of the Rouleau Gold Zone where recent drilling encountered 1.5 g/t Au over 15 metres near surface, including 15.4 g/t Au over 1 metre (BFD January 12, 2017 news release). No drilling is recorded east of this intersection.
The western extension of the Rouleau Gold Zone where high grade gold has been previously intersected will also be targeted. The presence of Quartz Porphyry dikes in this area is of high interest given the spatial association of gold at Windfall with this lithology.
The current drilling will provide key input for an expanded, systematic drill program.
ET Zone
Beaufield's ET target is surrounded on three sides by the Osisko Mining's flagship Windfall property and is located less than 2 kilometres from the Windfall gold deposit. A magnetic geophysical anomaly that appears identical to the magnetic anomaly at Windfall-Caribou will be drilled with at least two starter holes to assess potential.
Golden Retriever Zone
A drill program of up to 3,000 metre will also be undertaken on Beaufield's Golden Retriever property which is the geological strike extension of Osisko Mining's black Dog property, currently being actively drilled. Winter roads have been established on the Golden Retriever zone where a minimum of 8 drill holes will be drilled.
Panache
The Panache structure is the geological and geophysical extension of Osisko's Fox gold discovery (Osisko August 29th, 2016 news release). Definition of holes planned for drilling is underway.
Management program
Beaufield will manage a program on the adjoining Urbana Corporation property (Urbana January 18th, 2017 news release). Urbana's holdings share a long, common boundary with Beaufield's Macho block. By working jointly the two companies maximize knowledge on their important holdings.
The table below is presented to indicate the significant potential of the Beaufield holdings in the camp. The occurrences on the list remain to be explored in greater detail.
Name of occurrence/zone Select grades Type Reference**
Kent Lake 438.8 g/t Au and 524.5 g/t Ag over 0.21 m Drill intersection* MERN Sigeom
Lucky 7 7.86 g/t Au over 6.00 m Drill intersection* BFD News release (NR) Dec. 8, 2015
Macho East 3.58 g/t Au, 1.42% Cu and 23.3 g/t Ag Grab samples MERN Sigeom
Macho West 1.33 g/t Au over 3.55 m Drill intersection* MERN Sigeom
Chalko 3.58 g/t Au, 1.42% Cu and 23.3 g/t Ag Grab samples BFD NR Oct. 22, 2015
Souart 1.26 g/t Au, 0.6% Cu and 15.5 g/t Ag Grab sample BFD NR Oct. 22, 2015
Macho Bay 7.35 g/t Au, and 4.0 g/t Ag Grab sample BFD NR Oct. 22, 2015
Sterling 5.47 g/t Au, 2.33% Cu and 48.7 g/t Ag Grab samples BFD NR Oct. 22, 2015
Panache 5.9 g/t Au over 3.0 m Drill intersection* HMI NR Jun. 16, 2010
Panache West 9.6 g/t Au over 1.40 m Drill intersection* MERN Sigeom
Showing #1 3.1 g/t Au over 1.10 m Channel Sample MERN Sigeom
Showing #4 10.4 g/t Au and 7.4 g/t Au Grab sample MERN Sigeom
Cominco Showing 1.24 g/t Au over 6.0 m Drill intersection* MERN Sigeom
Rouleau Gold Zone West 42.8 g/t Au over 0.9 m and 20.7 g/t Au over 0.9 m Drill intersection* MERN Sigeom
Zone 14 1.63 g/t Au over 3.68m Drill intersection* MERN Sigeom
Rouleau Gold Zone East 4.80 g/t Au over 3.35 m Drill intersection* MERN Sigeom
8.98 g/t Au over 4.36 m Drill intersection* MERN Sigeom
7.64 g/t Au over 7.42 m Drill intersection* MERN Sigeom
27.53 g/t Au over 3.05 m Drill intersection* MERN Sigeom
11.63 g/t Au over 3.73 m Drill intersection* MERN Sigeom
7.65 g/t Au over 4.05 m Drill intersection* MERN Sigeom
Quesnel Showing 12.84 g/t Au, 6% Cu and 30.6 g/t Ag Grab samples MERN Sigeom
Notes: * May not represent true width (cannot be determined from the information currently available)
** MERN: Quebec`s Ministry of Energy and Natural Resources
Beaufield is strategically located in the centre of the new Windfall Gold Camp. The property will remain the principal focus of the corporation's exploration activities for 2017. Centrally located within the Urban-Windfall area, the property host a number of important gold occurrences and excellent geology, and is easily accessible by road year round.
Qualified Person
This news release has been prepared by Mathieu Stephens, P.Geo., Vice President of Exploration and Corporate Development for Beaufield, the Qualified Person, as defined by National Instrument 43-101.
About Beaufield:
Beaufield is a mineral exploration company with its exploration activity focused in Quebec and Ontario. Please refer to Beaufield's website to view the company's properties (Urban, Eleonore-Opinaca, Tortigny and Hemlo). The Corporation is actively exploring, well financed with approximately $2 million in cash, has no debt and has excess work credits on its properties.
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
Beaufield Resources Inc. Jens E. Hansen President and CEO 514.842.3443 Beaufield Resources Inc. Mathieu Stephens VP Exploration and Corporate Development 613.721.2919 info@beaufield.com www.beaufield.com Jason Monaco Partner at FCCC 416.566.8894 jmonaco@firstcanadiancapital.com www.firstcanadiancapital.com
Ridley Terminals donates $250K to support rail crossing upgrades
In its single largest donation ever, Ridley Terminals Inc. announced on Monday it will be contributing $250,000 to the cause of upgrading five rail crossings in the District of Port Edward.
Long an item of note to the municipality due to train whistle noise concerns to residents, and safety in rail transport, Ridley Terminals (RTI) contributed their portion in a continuous group effort to raise $1.5 million for the total cost of the projects.
Coming a few weeks after Ridley Island-located AltaGas made its positive final investment decision on its propane export terminal, and with AltaGas using CN Rail to ship its propane to its facility, RTI board chair Byng Giraud was happy to make the donation, he stated in a press release.
"Ridley Terminals has been part of the fabric of the community since the 1980s and we are committed to remaining so into the future. This investment in Port Edward is part of that commitment. We are pleased we are able to assist Port Edward and minimize the impact of our increased business through this donation," Giraud said.
Port Edward Mayor Dave MacDonald added that the district's relationship with RTI is an important one.
"Port Edward is very happy with RTI's announcement to support the upgrades of the railway crossings. This project is very important to the quality of life of all our residents and it's great to see industry working alongside our community in ensuring all our needs are met. We look forward to continuing to work together, as well with all our other stakeholders," said MacDonald.
AltaGas' terminal will be designed to ship 1.2 million tonnes of propane per year, the equivalent of 50-60 railcars per day through the rail route's communities, including Port Edward.
Port Edward council also approved more than $700,000 of funding in the district's budget to help meet the $1.5 million mark, and district officials hope to see the project begin before fishing season this year.
The Port of Prince Rupert is also expected to contribute to the project.
AltaGas' Dan Woznow, vice-president of energy exports, was also on hand to make the announcement.
"We support the District of Port Edward in their work to upgrade five of its controlled rail crossings. AltaGas' final investment decision to construct the Ridley Island Propane Export Terminal will bring diversity to Ridley Terminals, while strengthening the local economy. We are pleased that AltaGas' decision to invest in the first propane export terminal off the west coast of Canada has allowed Ridley Terminals Inc. to present this donation," Woznow said.