#ExploringMining #Podcast 203 – #Mining #Stocks News - (TSXV: $OTGO.V) (TSXV: $FOR.V) (OTC: $FTBYF) (NYSE: $RIO) (NYSE: $CAT) (NYSE: $IAG) (TSXV: $APN.V)

 

#ExploringMining #Podcast 203 – #Mining #Stocks News - (TSXV: $OTGO.V) (TSXV: $FOR.V) (OTC: $FTBYF) (NYSE: $RIO) (NYSE: $CAT) (NYSE: $IAG) (TSXV: $APN.V)    

 

Point Roberts WA, Delta BC, September 16, 2021 Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE  companies plus interviews with CEO's and leading experts. Today’s podcast was sponsored by O2Gold Inc.

(TSXV:OTGO) , a mineral exploration company with activities in Colombia.

 

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Fortune Bay Corp. (TSXV:FOR) (OTC:FTBYF) has announced the acquisition, through claim staking, of the 10,000 hectare Strike Uranium Project in northern Saskatchewan, Canada. According to the press release, Strike Uranium has “potential for high-grade unconformity-related, basement-hosted uranium deposits.” Dale Verran, CEO for Fortune Bay, commented:

 

"The acquisition of the Strike Uranium Project through staking represents an exciting opportunity for Fortune Bay and its shareholders, particularly given the recent boom in uranium equities and increase in the spot uranium price. The Athabasca Basin is undoubtedly the world's premier district for high-grade uranium; and unconformity-related, basement-hosted deposits are highly sought after targets given their high-grades and competent host rocks which allow for conventional mining. At Strike we believe we have the required exploration criteria for these deposits, and positive results from historical exploration with very limited drilling makes this a unique exploration opportunity."

 

Rio Tinto Group (NYSE:RIO) has signed a Memorandum of Understanding (MoU) with Caterpillar Inc. (NYSE:CAT) for the latter’s development of zero-emissions autonomous haul trucks for use at one of Rio Tinto’s Western Australian mining operations. Alf Barrios, Rio Tinto’s Chief Commercial Officer, explained:

 

"Our ambition to reach net zero emissions across our operations is a priority. Reaching this ambition will require new and innovative solutions and partnerships with supplier partners like Caterpillar. This collaboration represents a small but important step on that journey.”

 

IAMGOLD Corporation (NYSE:IAG) has reported assay results from its 2021 exploration diamond drilling program completed on the Lac Gamble zone at the Rouyn Gold project in Quebec, Canada. Highlights include Drill hole GA-21-779 with 7.7 metres grading 2.5 g/t Au, hole GA-21-780 with 5.0 metres grading 5.5 g/t Au, and hole GA-21-782 with 3.2 metres grading 16.1 g/t Au. According to the press release, these, and the rest of the assay results, “will be integrated with the existing geological, geochemical and structural information to support the development and refinement of preliminary deposit models on the property to support a future potential maiden resource estimate.”

 

Altiplano Metals Inc. (TSXV:APN) has successfully obtained an Exploitation Permit for the Maria Luisa historical Gold-Copper mine in Chile. Alastair McIntyre, the company’s CEO, said:

 

"I am pleased that the approval process for the Maria Luisa gold - copper project has been completed and we can now focus on the development phase. Historical work at Maria Luisa has yielded very good results including areas of past production where approximately 6.89 grams per tonne (g/t) gold and 1.89% copper were recovered. In addition, the relatively under-explored area to the NW, where a separate NS vein structure occurs has yielded underground chip samples of 8.73 grams per tonne gold over 5.74 m, provides us with an exciting new area to explore and develop."

 

Exploring Mining Podcast Sponsor

O2Gold Inc. (TSXV:OTGO) is a mineral exploration company with activities in Colombia. O2 Gold is focused entirely on the exploration of the Otú Fault project, with senior management based in nearby Medellín. The team’s deep roots and experience in Latin America—in both capital markets and mining—gives it the regional knowledge and operational expertise to create a world-class project.

 

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Breaking #Mining #Stock News: Fortune Bay (TSXV: $FOR.V) Announces Acquisition of the Strike Uranium Project Near Uranium City, Northern Saskatchewan; @fortunebaycorp

Breaking #Mining #Stock News: Fortune Bay (TSXV: $FOR.V) Announces Acquisition of the Strike Uranium Project Near Uranium City, Northern Saskatchewan; @fortunebaycorp 

 

HALIFAX, NS - September 16, 2021 (Investorideas.com Newswire) Fortune Bay Corp. (TSXV:FOR, Frankfurt:5QN) ("Fortune Bay" or the "Company") is pleased to announce the acquisition of the Strike Uranium Project ("Strike" or the "Project") through claim staking. The Project covers an area of approximately 10,000 hectares and is located 25 kilometres west of Uranium City and the Company's flagship Goldfields Project in northern Saskatchewan.

 

Read this news, featuring FOR.V in full at https://www.investorideas.com/CO/FOR/news/2021/09161Uranium-Northern-Saskatchewan.asp

 

The Project has been identified to have potential for high-grade unconformity-related, basement-hosted uranium deposits in a setting similar to other discoveries on the margin of the Athabasca Basin (see Figure 1). Rock samples collected recently from surface at Strike produced assays of 3.51% U₃O₈ and 1.75% U₃O₈, confirming historical results.

 

Dale Verran, CEO for Fortune Bay, commented, "The acquisition of the Strike Uranium Project through staking represents an exciting opportunity for Fortune Bay and its shareholders, particularly given the recent boom in uranium equities and increase in the spot uranium price. The Athabasca Basin is undoubtably the world's premier district for high-grade uranium; and unconformity-related, basement-hosted deposits are highly sought after targets given their high-grades and competent host rocks which allow for conventional mining. At Strike we believe we have the required exploration criteria for these deposits, and positive results from historical exploration with very limited drilling makes this a unique exploration opportunity."

 

Mr. Verran further added, "While our primary focus will remain on our flagship Goldfields Project, the Strike Project provides additional exploration optionality for the Company in a strengthening uranium market, and allows us to leverage off our existing operational capabilities in the Uranium City area and our team's considerable experience in Athabasca Basin uranium exploration, which includes discovery and delineation."

 

Exploration Potential
Previous work (from the 1950's to 2008) and historical datasets support the Project's potential for high-grade unconformity-related, basement-hosted uranium deposits in accordance with current exploration models for these types of deposits. Key exploration criteria identified include:

·        Known uranium endowment:

·        Favourable geological setting (see Figure 2):

·        Indicative alteration and geochemical pathfinder signatures:
Historical rock sampling campaigns identified:

 

High-Quality Existing Datasets; Very Limited Previous Drilling
The first recorded uranium exploration in the area was carried out during the 1950's by numerous junior mining companies. This initial work consisted primarily of prospecting and trenching, and numerous uranium occurrences were discovered. One of these occurrences, known as the Tena Zone, was mined on a small-scale during the late 1950's, with ore shipped to the Lorado mill for processing. During the late 1960's and early 1980's, SMDC (now Cameco Corp.), Mokta and Jodi Energy Resources Ltd. completed more comprehensive work consisting of airborne magnetic and electromagnetic ("EM") surveys with follow up ground EM surveying. Although these EM surveys did detect a significant number of ground EM conductors along the edge of the Athabasca Basin, diamond drill testing was very limited. Assessment records indicate that only seven historical drill holes have been completed on the property to date. Three of the holes are located near the Tena Zone with one hole intersecting 1.6% eU over 4 metres (eU is equivalent uranium derived from a downhole gamma spectrometer).

 

Work carried out by Cameco Corp. ("Cameco") between 2005 and 2008 produced several high-quality datasets including airborne magnetic and electromagnetic surveys (VTEM), ground electromagnetic surveys (Max-Min and Step-Wise Moving Loop), and outcrop geochemical and reflectance spectrometry (clay) sampling programs. Cameco did not conduct any drilling on the project, and despite documented recommendations in assessment reports to advance the project the ground lapsed in 2012 (soon after the 2011 Fukushima nuclear accident). These publicly available datasets acquired by Cameco represent a valuable repository of data for the Project and provide an initial basis for drill targeting. A future ground gravity and magnetic survey may provide additional supportive data which would allow for prioritization of drill targets by delineating clay alteration zones (gravity lows) and structures (magnetic lineaments).

 

Operational and Infrastructure Advantages
The Project is located approximately 25 kilometres west of Uranium City, and 15 kilometres southeast from Camsell Portage (see Figure 2). Clean-energy hydro power stations are available within 10 kilometres of the Project to the north, and regional airports are available at Uranium City and Camsell Portage. Fortune Bay expects to base operations out of Uranium City where the Company has existing operational capabilities, including vehicles, field equipment, storage buildings and core logging and sampling facilities.

 

Recent Work and Next Steps
The Company has recently verified the Tena Zone and Point Claims occurrences (as listed in the open-source Saskatchewan Mineral Deposit Index) through geological investigation, gamma-ray spectrometer surveying, and confirmatory surface rock sampling. Uranium assay (U₃O₈ wt%) and selected geochemical results are provided in Table 1. The results demonstrate high uranium grades on surface together with anomalous geochemical associations indicative of unconformity-related, basement-hosted uranium mineralization. The Company is currently advancing the Project through permit applications for ground geophysics and drilling. Field work, commencing with a ground gravity and magnetic survey, is being planned to commence in early 2022 to utilize winter ice conditions.

Sampling, Analysis and Data Verification
Uranium assays and geochemical analyses, provided in Table 1, were undertaken by the Saskatchewan Research Council ("SRC") Geoanalytical Laboratories. Sample preparation included drying, jaw crushing to 60% passing -2 millimetres, and pulverizing to 90% passing -106 microns. The resultant pulp was digested using a two-acid partial digest (HNO₃:HCl) and the respective solution analyzed for multiple elements, including uranium, using ICP-OES. Boron values are obtained through NaO₂/NaCO₃ fusion followed by ICP-OES. Uranium assays are obtained using SRC's ISO/IEC 17025:2005 accredited method for the determination of U₃O₈ wt%. A split of the sample pulp is digested using aqua-regia (HCl:HNO₃ in the ratio 3:1), and the solution analyzed for U₃O₈ wt% using ICP-OES.

Unless otherwise stated, the historical results (including drill results) contained within this news release have not been verified and there is a risk that any future confirmation work and exploration may produce results that substantially differ from the historical results. The Company considers these results relevant to assess the mineralization and economic potential of the property.

 

Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Dale Verran, M.Sc., P.Geo., Chief Executive Officer of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Verran is an employee of Fortune Bay and is not independent of the Company under NI 43-101.

 

About Fortune Bay

Fortune Bay Corp. (TSXV:FOR, Frankfurt: 5QN) is a gold-focused exploration and development company with 100% ownership in two advanced gold exploration projects in Canada, Saskatchewan (Goldfields Project) and Mexico, Chiapas (Ixhuatán Project), both with exploration and development potential. The Company has a goal of building a mid-tier gold exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company's corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation. Further information on Fortune Bay and its assets can be found on the Company's website at www.fortunebaycorp.com or by contacting us as info@fortunebaycorp.com or by telephone at 902-334-1919.

 

On behalf of Fortune Bay Corp.

"Dale Verran"
Chief Executive Officer
902-334-1919

 

Cautionary Statement Regarding Forward-Looking Information

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fortune Bay Corp. ("Fortune Bay" or the "Company") cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Fortune Bay's control. Such factors include, among other things: risks and uncertainties relating to metal prices, changes in planned work resulting from weather, COVID-19 restrictions, logistical, technical or other factors, the possibility that results of work will not fulfill expectations and realize the perceived potential of Fortune Bay's mineral properties, uncertainties involved in the interpretation of drilling results and other tests, the possibility that required permits may not be obtained in a timely manner or at all, risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions, the possibility of cost overruns or unanticipated expenses in work programs, the risk of environmental contamination or damage resulting from the exploration operations, the need to comply with environmental and governmental regulations and the lack of availability of necessary capital, which may not be available to Fortune Bay, acceptable to it or at all. Fortune Bay is subject to the specific risks inherent in the mining business as well as general economic and business conditions. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Fortune Bay undertakes no obligation to publicly update or revise forward-looking information. Fortune Bay does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. For more information on Fortune Bay, readers should refer to Fortune Bay's website at www.fortunebaycorp.com.

 

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

 

Figure 1: Strike Uranium Project location map. (CNW Group/Fortune Bay Corp.)

 

 

Figure 2: Strike Uranium Project infrastructure and geological setting. (CNW Group/Fortune Bay Corp.)

 

Fortune Bay Corp. (TSXV: FOR) is a featured Mining stock on Investorideas.com

 

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#Mining #Colombian #Gold– #Stocks to Watch (TSXV: $OTGO.V) (TSX: $GCM.TO) (TSX: $BTO.TO) (NYSE: $AU) @otgo_v @GCMGold @B2GoldCorp @AGAColombia

#Mining #Colombian #Gold– #Stocks to Watch (TSXV: $OTGO.V) (TSX: $GCM.TO) (TSX:  $BTO.TO) (NYSE: $AU) @otgo_v  @GCMGold @B2GoldCorp @AGAColombia

 

Tax Incentives and Skilled Labour Make #Colombia Ideal for #Mining

 

Point Roberts WA, Delta, BC –September 16, 2021 - Investorideas.com, a leading investor news resource covering gold and mining stocks releases a special report on gold mining in Colombia and what makes Colombia such a draw for mining companies and investors.

 

Read this article, featuring OTGO in full at https://www.investorideas.com/news/2021/mining/09161OTGO-Colombian-Gold.asp

 

Colombia is fast becoming a top mining district. As an OECD member country with a growing economy and one of the lowest inflation rates in Latin America, it is hard to ignore how highly prospective the mining sector of this thriving and vibrant country has become.

 

Colombia hosts high-grade underground mines and a rich history of mining across various commodities like gold, silver and copper. With the right exploration and production company, discovering the true potential of the country’s widespread mineralized landscape could present tremendous economic potential, yield and expansive growth.

 

O2Gold Inc. (TSXV: OTGO), a mineral exploration company with activities in Colombia is focused entirely on the exploration of the Otú Fault project, with drilling currently underway.

The Company’s senior management is based nearby in Medellín. The team's deep roots and experience in Latin America, in both capital markets and mining, gives it the regional knowledge and operational expertise to create a world-class project.

Management recently told Investor Ideas in a podcast, "Part of the risk-reward upside of gold exploration plays in emerging markets is conditional to operational capacity. So, jurisdictional knowledge becomes extremely valuable in companies like these."

The company recently announced the results of the geophysical survey in the Aparecida brownfield. Key Highlights included: The ground geophysical survey allowed the interpretation of one zone of 650 x 500 meters in area with an anastomosed vein pattern, which had already been identified in surface mapping but whose extent was unknown. At least four different vein directions were identified, including the vein from the Fortaleza mine, where channels chips with values of up to 42.3 g/t Au have been collected.

The geoelectrical survey methodology was chosen because it is known to identify vein structures in the same geological context successfully.

The grids used were perpendicular to the vein structures, with variable spacing between 100 and 200 meters and with measuring points every 20 meters.

 

In Aparecida, due to the mapping having indicated veins with different strikes, a grid was used instead of lines perpendicular to the main structure.

 

Previous exploration work reported in the Company’s National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) report recorded multiple entries from artisanal mines in different veins with various directions, showing a mineralization system with an orthogonal pattern.

 

A geophysical grid of the soil was carried out to assist in interpreting the structures. The interpretation of this work presented a pattern of "anastomosed" veins (Figure 1B), in an area of 650 x 500 meters, with two preferential directions EW and NS, but with other low resistive anomalies (in blue) in directions orthogonal to these main structures, including the vein that feeds the production at the Fortaleza mine. At this mine, the O2Gold team sampled quartz vein chips in channels, obtaining gold values of up to 42.3 g/t.

 

For the Aparecida target, 1,000 meters of scout drilling are planned to verify the vein system's extension, depth, thickness, and gold grade.

 

O2Gold Inc. also announced that it has begun drilling at the Aurora mine targets, the site of an expected 2,000 meters of drilling. The Company has also received the results of additional geophysics surveying in the Aurora project area.

 

Key Highlights included: The ground geophysics survey allowed the interpretation of the Quintanillo mine’s vein structure of 1.2 km, which had already been identified in surface mapping but whose extent was unknown. In addition to showing the continuity of this vein, the survey also indicated the possibility of two more associated orthogonal vein structures and two structures that could be extensions of the Aurora vein system. The integration of the Aurora-Quintanillo target shows a projected vein system of almost 4 km in length along strike.

 

The grids used were perpendicular to the vein structures, with variable spacing between 100 and 200 meters and with measuring points every 20 meters.

 

The geological mapping and sampling on the Quintanillo target identified occurrences beyond those known from the artisanal production works in the Quintanillo mine. Due to the coverage by colluvial material and weathered rocks, these occurrences could not be followed in the field, hence the choice of geophysical methods to verify their continuity.

 

Another large gold mining company, B2Gold Corp. (TSX: BTO) has their Gramalote Project, which is located approximately 230 km northwest of the Colombian capital of Bogota and approximately 120 km northeast of Medellin, the regional capital of the Department of Antioquia.

 

B2Gold has a 50% interest in the Gramalote Project (Anglo Gold Ashanti -50%) and on January 1, 2020 became the operator of the Project.

 

The initial 2021 budget for the Gramalote Project is $52 million (B2Gold’s 50% share is $26 million) for the continued development of the project, along with continued environmental and social activities supporting local communities. The Gramalote budget also includes $9 million for exploration in 2021. A total of 18,000 metres of diamond drilling is planned in 2021. This includes 8,000 metres for further drilling at Gramalote Ridge and 10,000 metres at two satellite deposits (Trinidad and Monjas West), which are proximal to the planned infrastructure.

 

B2Gold has also partnered with AngloGold Ashanti Limited (NYSE: AU) on the Gramalote project, a joint venture between AngloGold Ashanti (50%) and B2Gold (50%), which is located near the towns of Providencia and San Jose del Nus within the municipality of San Roque, in the northwest of the Department of Antioquia. It is approximately 124km northeast of Medellín, the regional capital of the Antioquia Department. B2Gold became the project manager and operator in 2020.

 

Gran Colombia Gold Corp. (TSX: GCM) (OTCQX: TPRFF), another large Colombia-based mining company, recently announced its unaudited interim condensed consolidated financial statements and accompanying management’s discussion and analysis (MD&A) for the three and six months ended June 30, 2021.

 

In their results they discussed not only some of their recent financial highlights but also some of the successes of their Colombian based operations such as their Segovia Operations.

 

Second Quarter and First Half 2021 Highlights included :Gran Colombia has completed a major step forward in its strategy to grow through diversification, completing the acquisition on June 4, 2021 of all the shares of Gold X Mining Corp (“Gold X”) it did not already own and then closing a $300 million offering on August 9, 2021 of 6.875% Senior Unsecured Notes due 2026 (the “2026 Notes”) to fund the development of the Toroparu Project in Guyana, to prepay the remaining $18.0 million balance of its Gold Notes and for general corporate purposes. The Company is nearing completion of an updated preliminary economic assessment (“PEA”) for the Toroparu Project incorporating the recently announced high-grade results from the 2020-2021 drilling program undertaken by Gold X.

 

Key highlights included:

 

The Company added a 27% equity interest in Denarius Silver Corp. (“Denarius”) to its portfolio in the first half of 2021, giving it exposure to the Lomero-Poyatos polymetallic deposit located in Spain, in close proximity to the Matsa JV project in the Iberian Pyrite Belt, and to the Guia Antigua and Zancudo Projects in Colombia.

 

In February 2021, Gran Colombia also successfully brought its spin out of the Marmato Mining Assets to a conclusion, one in which the Company has a continuing equity ownership of 44% in Aris Gold Corporation (“Aris”). The Marmato operating and financial results are only consolidated up to February 4, 2021 and thereafter the Company equity accounts for its investment in Aris.

 

Gran Colombia’s gold production from its Segovia Operations totaled 52,198 ounces in the second quarter of 2021 compared with 44,377 ounces in the second quarter of 2020. Total gold production from Segovia for the first half of 2021 amounted to 101,256 ounces compared with 94,723 ounces in the first half last year. In July 2021, Segovia’s gold production, which reflected the impact of a planned four-day maintenance shutdown at the plant, was 15,258 ounces. This brings the Company’s trailing 12-months total gold production from its Segovia Operations at the end of July 2021 to 201,688 ounces, up 3% over 2020. The Company remains on track with its annual production guidance of 200,000 to 220,000 ounces of gold from Segovia in 2021. Including Marmato production up to February 4, 2021, consolidated gold production for the first half of 2021 was 103,684 ounces compared with 104,475 ounces in the first half last year.

 

Consolidated revenue amounted to $96.4 million and $198.3 million in the second quarter and first half of 2021, respectively, up from $77.1 million and $178.1 million in the second quarter and first half, respectively, of 2020. The year-over-year increase in revenue largely reflects an increase in the Company’s realized gold price (1) which averaged $1,805 per ounce sold in the first half of 2021 compared with an average of $1,622 per ounce sold in the first half last year.

Another large factor driving mining to this area has been the recent tax deductions which help support positive financials like those shown above. Under the latest Colombia Tax Reform corporate income tax is 31% for 2021 and expected to be 30% for 2022 and onwards.

 

With these incentives and more in favor of drilling in Colombia, we can expect to see more gold results reported sooner rather than later and can expect these mining developments to increase in the years to come.

 

 

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