Monday, March 01, 2021

#Metals/ #GreenEnergy News -Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Pre-Pilot Hydrometallurgy Achieves High Impurity Removal With Minimal Rare Earth Element Losses From Wicheeda Flotation Concentrate; @DefenseMetals

#Metals/ #GreenEnergy News -Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Pre-Pilot Hydrometallurgy Achieves High Impurity Removal With Minimal Rare Earth Element Losses From Wicheeda Flotation Concentrate; @DefenseMetals 

 


Vancouver, British Columbia – March 1, 2021 
Investorideas.com Newswire, MiningSectorStocks.com and RenewableEnergyStocks.com -Mining/Metals/ Green Energy Stock News- Defense Metals Corp. (“Defense Metals”) (TSX-V:DEFN / OTCQB:DFMTF/ FSE:35D) is pleased to announce that it has received additional pre-pilot hydrometallurgical test work utilizing high-grade rare earth element (REE) mineral concentrate produced during the Company’s highly successful 26-tonne flotation pilot-plant that yielded a mineral concentrate averaging 7.4% NdPr oxide (neodymium-praseodymium)[1].

 

Read this news, featuring DEFN in full at https://www.investorideas.com/news/2021/mining/03011DEFN-Pre-Pilot-Hydrometallurgy.asp

 

The road accessible Wicheeda REE Property is located close to infrastructure approximately 80 kilometres northeast of Prince George, British Columbia (BC). The Wicheeda project has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO[2].

 

Highlights of the additional infill hydrometallurgical test results, which centred around optimizing gangue leach test conditions, conducted at SGS Canada Inc. (“SGS”) Lakefield Site are as follows:

 

·        Gangue leach optimization resulted in increased manganese rejection from ~40% (pH 4) to ~85% (pH 3) from the flotation concentrate resulting in only minimal REE losses of approximately 1% (Figure 1)

·        Increased concentrate weight reduction from <10% gauge loss to >20%

 

Ongoing hydrometallurgical optimisation test work being conducted at SGS Lakefield is investigating options for reducing the caustic crack retention time, and acid concentrations in the caustic crack residue leach towards reducing acid consumption and downstream neutralization requirements.

 

Craig Taylor, CEO of Defense Metals, stated: “Defense Metals is extremely pleased with rapid advances being made in our pre-pilot hydrometallurgical optimization. We continue fine-tune our gangue leach, via milder conditions versus base case[3], with an eye to striking the optimal balance of high front-end impurity rejection with minimal REE losses. The results announced today speak to the success of these efforts.” 

 

Figure 1. Pulp pH Versus Gangue Leach REE and Mn Extraction, and Weight Loss

 


About the Wicheeda REE Property

The 1,708 hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN railway and major highways.

 

Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.

 

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein. 

 

Methodology and QA/QC

Hydrometallurgical product assays for neodymium was determined via lithium-borate fusion of a 0.5-gram sample analyzed via wavelength dispersion X-ray fluorescence (WD-XRF). The remaining rare earth elements for the head sample were determined via 0.5-gram sodium-peroxide fusion multi-element ICP-MS.

 

The SGS analyses included a quality assurance / quality control (QA/QC) program including the insertion of rare earth element standard and blank samples. Defense Metals detected no significant QA/QC issues during review of the data. Defense Metals is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein. SGS is an ISO/IEC 17025 and ISO9001:2015 accredited laboratory. SGS is independent of Defense Metals Corp.

 

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of “GREEN” energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

 

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

 

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

 

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forwardlooking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to, plans for its Wicheeda Property, the advancement and development of the Wicheeda Property, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forwardlooking statements or forward-looking information, except as required by law.

 

Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring Defense Metals Corp. is a paid for service  on Investorideas.com ($750) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

About Investorideas.com

https://www.investorideas.com/About/

 

Sign up for free stock news alerts at Investorideas.com

https://www.investorideas.com/Resources/Newsletter.asp

 


RenewableEnergyStocks.com: investing ideas in renewable energy stocks - solar, wind, batteries and more - Environmental, social and governance (ESG) investing tools

Like Renewable Energy Stocks? View our Renewable Energy Stocks Directory  

Get News Alerts on Renewable Energy Stocks  

 



MiningSectorStocks.com - investing ideas in mining stocks

Like Mining Stocks? View our Mining Stocks Directory  

 

 



[1] See Defense Metals News Release dated September 23, 2020

[2] Technical Report on the Wicheeda Property, British Columbia, effective June 27, 2020 and prepared by APEX Geoscience Ltd. (Steven J. Nicholls, B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo.) is available under Defense Metals Corp.’s profile on SEDAR (www.sedar.com)

[3] See Defense Metals News Release dated February 18, 2020

Friday, February 26, 2021

New #Stocks to Watch at Investor Ideas in Crypto (TSX: $EBIT.TO) (TSX: $EBIT.U.TO), (TSX: $BTCC-B.TO) (TSX: $CXI.TO) (OTCBB: $CURN), (OTC: $OBTC)

 New #Stocks to Watch at Investor Ideas in Crypto (TSX: $EBIT.TO) (TSX: $EBIT.U.TO), (TSX: $BTCC-B.TO) (TSX: $CXI.TO) (OTCBB: $CURN), (OTC: $OBTC)

 

 Psychedelics, Tech, eSport, Mining stocks also new at Investor Ideas

 


 

 


 

 

 

 

 

 

 

 

 

Point Roberts WA, Delta BC, February 26, 2021 – (Investorideas.com Newswire) Investorideas.com, a global news source and leading retail investor and trader resource, announces its weekly roundup of stocks to watch in Crypto, Psychedelics, Tech, eSport and Mining. Today’s stocks have been added to our list of free stock directories in each sector.

 

Read this in full at https://www.investorideas.com/news/2021/main/02261Stocks.asp

 

Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood, Acorn, Stash and others.

 

New crypto stocks include bitcoin ETFs, a Trust and a fintech company that has expanded into crypto exchange services.

 

The latest psychedelic stocks are involved in psilocybins and mushrooms, tech stocks include cybersecurity.

 

The newest eSport and mining companies are both Canadian listed with operations based in British Columbia.

 

New Stocks added to Crypto Stocks Directory:

Bitcoin ETF (TSX  EBIT) (TSX : EBIT.U) will provide investors with exposure to the daily price movements of the U.S. dollar price of bitcoin by utilizing the benefits of the creation and redemption processes offered by the exchange traded fund structure. Investors in EBIT will directly own bitcoin on the Bitcoin blockchain in a cold wallet. Gemini Trust Company, LLC will act as the Sub-Custodian in respect of EBIT’s holdings of bitcoin.

 

Purpose Bitcoin ETF (TSX:BTCC-B.TO) is held in secure, offline storage, which is also known as “cold” storage because it is not actively connected to the internet. We do use an online or “hot” wallet, but only for transitory purchases when the ETF is buying and selling Bitcoin. The ETF only invests in and holds 100% physically settled Bitcoin.

 

Osprey Bitcoin Trust (OTC: OBTC) offers common sense solutions to digital asset investing. Based in Tarrytown, New York, Osprey is dedicated to building better investment products that offer secure, transparent, and cost-effective access to digital assets. The Osprey Bitcoin Trust, OBTC, is the lowest-cost publicly traded bitcoin-focused investment product in the world.

 

Currency Exchange International,Corp. (TSX:CXI) (OTCBB:CURN) is in the business of providing a range of foreign exchange technology and processing services in North America. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, purchase and sale of foreign bank drafts and international travelers’ cheques, and foreign cheque clearing. Related services include the licensing of proprietary FX software applications delivered on its web-based interface, www.ceifx.com (“CEIFX”), and licensing retail foreign currency operations to select companies in agreed locations. The Company’s wholly-owned Canadian subsidiary, Exchange Bank of Canada, based in Toronto, Canada, provides foreign exchange and international payment services in Canada through the use of its proprietary software – www.ebcfx.com.  CRYPTO: Partnered with Cyclebit, a Cryptocurrency Payment Gateway, and CEX.IO, a regulated cryptocurrency exchange, to offer the first concierge service experience for buying cryptocurrencies. Customers can purchase Bitcoin and Ethereum in less than 10 minutes at select CXI branch locations starting February 17, 2021

 

New Stocks added to Psychedelics Stocks Directory:

Halo Collective Inc. (NEO:HALO)(OTC:HCANF) is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures and distributes quality cannabis flower, oils and concentrates, and has sold approximately eight million grams of oils and concentrates since inception. Halo continues to evolve its business and scale efficiently, partnering with trustworthy leaders in the industry, who value the Company's operational expertise in bringing top-tier products to market. Recently, the Company has entered into a non-binding letter of intent with Red Light Holland Corp. for the purpose of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the State of Oregon.

 

Optimi Health Corp. (CSE: OPTI; OPTI.WT) is developing a vertically integrated Canadian functional mushroom brand that focuses on the health and wellness food markets. The Company also intends to cultivate, extract, process and distribute high quality strains of fungi products at its GMP certified facility located in Princeton, British Columbia.

 

New Stocks added to Tech Stocks Directory:

SoLVBL Solutions Inc. (CSE:SOLV) is a cybersecurity company. The company’s mission is to empower, better, faster decisions by developing a universal standard for establishing digital record authenticity. The lead product Q by SoLVBL TM, is a proprietary software of the company, designed to be easy to use and adopt, economically priced and provide digital record authentication at lightning fast speed. Q by SoLVBL TM allows organizations to establish trust in their data. The company is currently pursuing the following verticals: chain of custody for digital evidence; including, next generation 911 (“NG911”), data used in the financial sector, medical applications and critical internet of things (“IoT”) infrastructures.

 

New Stocks added  to eSport Stocks Directory:

TGS Esports Inc. (TSX:TGS.V) works with fortune 500 brands, schools, and tournament organizers to address the esports demographic by building their esports presence and community via tournaments, broadcast production, and events, both live and online. TGS works with some of the biggest brands in the world, including Red Bull, HyperX, Pepsi, Shaw Cable, Telcel, and Ubisoft to expand their reach by delivering unparalleled, all-in-one exports experiences.

 

New Stocks added to Mining Stocks Directory:

Rockland Resources Ltd. (CSE:RKL) is a junior mineral exploration company.  The Issuer is engaged in the business of exploring its principal property, the Summit Old Timer Property, located in British Columbia.

 

The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector.

 

About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news and press releases, research and our own original financial content. We were one of the first retail investor sites to cover renewable energy and cleantech stocks at investorideas.com and our domain Renewableenergystocks.com. We were also one of the most well- known and cited defense stock sites, featuring our domain Homelanddefensestocks.com at its peak.

We follow the money for investors as sector sentiment shifts and technology disrupts. Our mission is to provide investor ideas with breaking news, resources, industry articles and interviews with leading experts.      

 

Learn about investing in stocks and sector trends with our news alerts, articles,  podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea's original branded content includes the following podcasts and columns: Crypto CornerPlay by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate ChangeExploring Mining and the AI Eye.

 

Public companies within the sectors we cover use our news and content services to tell their story to interested investors. Paid for content is disclosed.  

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

Learn more about our news, PR and social media, podcast and ticker tag services at Investorideas.com

https://www.investorideas.com/Investors/Services.asp

 

Learn more about advertising and guest posts

https://www.investorideas.com/Advertise/

 

Follow us on Twitter https://twitter.com/Investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

Download our Mobile App for iPhone and Android  

 

Join our Investor Club https://www.investorideas.com/membership/

 

Contact Investorideas.com

800 665 0411

 


 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Breaking #Mining #Stock News - FORTUNE BAY (TSXV: $FOR.V) COMMENCES MOBILIZATION FOR PHASE ONE DRILLING AT GOLDFIELDS PROJECT; @fortunebaycorp

Breaking #Mining #Stock News - FORTUNE BAY (TSXV: $FOR.V) COMMENCES MOBILIZATION FOR PHASE ONE DRILLING AT GOLDFIELDS PROJECT; @fortunebaycorp

 


HALIFAX, NS February 26, 2021
Investorideas.com Newswire and Miningsectorstocks.com report - Fortune Bay Corp. (TSXV:FOR, Frankfurt: 5QN) (“Fortune Bay” or the “Company”) is pleased to announce that it has received a drilling permit for its Goldfields Project (“Goldfields” or the “Project”) located in northern Saskatchewan (see Figure 1). The Company has commenced mobilization for a Phase 1 drilling program.

 

Read this news, featuring FORTUNE BAY in full at https://www.investorideas.com/news/2021/mining/02261TSXV-FOR-Goldfields-Project.asp

 

Highlights of the Planned Phase 1 Drill Program:

 

·      Approximately 5,000 metres of core drilling is planned in 15 holes.

·      Drilling will be focused on expanding the mineral resources at the Box and Athona deposits through step-out drilling from high gold grades which remain open.

 

Dale Verran, CEO for Fortune Bay, commented, “We are pleased to have commenced mobilization for our Phase 1 drilling program at Goldfields immediately following receipt of a drilling permit. Our technical team has undertaken an extensive review of the historical data and has developed targets and a drilling plan with the potential to expand the historical mineral resources at both Box and Athona. The last drilling campaign at Goldfields was completed in 2011 and we look forward to reviving exploration on the Project equipped with an improved geological understanding of the deposits.”

 

Planned Phase 1 Drilling Program

As announced on October 13, 2020 the Company has identified drill targets at both the Box and Athona deposits (see Figures 2 and 3). A Phase 1 drilling program has been developed to commence testing these targets through step-out drilling from high gold grades which remain open. The primary objective of the drilling program is to expand the historical mineral resources beyond the extents of the historical mineral resource estimates and current drilling coverage. Recent completion of mineralization models for the deposits, based on structural studies, has facilitated planning of the location and orientation of the initial drill holes.

 

Box Deposit

At Box, step-out drilling is planned both along strike and down-dip of the higher-grade drill intercepts in both Zone A and B, with the objective of establishing continuity of high grades. Drill hole orientation, to the east at a shallow drilling angle, has been designed to optimize drilling efficiency by obtaining significant internal coverage of the Box Mine Granite and intersecting the interpreted mineralized vein-sets at high-angles.

 

Athona Deposit

At Athona South, planned drilling includes confirmatory drilling to verify the 1930’s historical results, infill drilling to establish continuity with mineralization to the north, and step-out drilling to the south.

 

Summary of Drill Targets (announced October 13, 2020)

 

Box Deposit

The Box deposit remains open, specifically at depth where meaningful grades and thicknesses have been intersected both outside the boundary of the historical mineral resource estimate, and below the depth of the previous open pit defined in the historical 2011 Pre-Feasibility Study for Box.

·      Two priority higher-grade zones have been identified for drill targeting and resource expansion, Box Zone A and Box Zone B (Figure 2). Highlight gold results from historical drilling completed along these Zones outside of the boundaries of the 2011 mineral resource estimate include:

o  Box Zone A:          18.05 g/t over 6.00 m (drill hole B07-294) contained within 47.70 m at 2.68 g/t

                      8.35 g/t over 9.00 m (drill hole B07-292) contained within 49.79 m at 2.10 g/t

                      6.34 g/t over 6.00 m (drill hole B11-315) contained within 25.00 m at 2.04 g/t

5.16 g/t over 12.00 m and 4.65 g/t over 3.00 m (drill hole B11-316) contained within 72.00 m at 1.39 g/t

o  Box Zone B:          8.72 g/t over 3.59 m (drill hole B95-219) contained within 45.59 m at 1.02 g/t

                      4.97 g/t over 6.00 m (drill hole B95-228)          contained within 47.15 m at 1.05 g/t

    Drill intersections are from exploration holes with spacings varying from 10 to 110 metres, approximate 45 metre average.

·      The higher-grade intersections are interpreted to potentially represent vein-sets within a plunging extension of the Box Mine Granite.

 

Athona Deposit

·      The Athona deposit remains open to the south, beyond the extents of the mineral resources and reserves that were defined in the historical 2011 pre-feasibility study.

·      The Athona Mine Granite that hosts the gold mineralization extends southwards to and beyond the historical Number 2 shaft, where limited drill holes confirm the presence of significant gold mineralization.

·      Athona South has been selected as a priority zone for resource expansion (Figure 3). Underground and surface drilling in this area was carried out in the period 1935 to 1939. Gold samples from these holes were collected on an approximate 1.5 m spacing, however in certain instances only composited results for longer intervals are available. Selected highlight historical gold results from Athona South include:

o  4.00 g/t over 48.80 m and 3.00 g/t over 30.80 m (drill hole 23)

o  6.00 g/t over 65.80 m and 1.00 g/t over 58.50 m (drill hole 34)

o  6.00 g/t over 68.90 m and 3.26 g/t over 6.10 m contained in 10.70 m at 2.21 g/t (drill hole U-10)

 

Data Verification and Qualified Person

The historical 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 drilling results relevant to assess the mineralization and economic potential of the property. For historical drill holes 23 and 34 at the Athona deposit, only composited results are available in the historical dataset. These composited grades may reflect highly anomalous results in individual samples and should not be interpreted to imply that mineralization is continuous throughout the interval.

 

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 Goldfields

The 100% owned Goldfields Project is the Company’s most advanced asset located in northern Saskatchewan, approximately 13 kilometres from Uranium City, for which a historical Pre-Feasibility Study (“2011 PFS”) was completed in October 2011 in accordance with NI 43-101. The 2011 PFS envisaged open-pit mining of the Box and Athona gold deposits, located two kilometres apart, over 13 years with estimated gold recoveries of 91% and 89% respectively, processed at a shared mill facility with a capacity of 5,000 tonnes per day. Economic highlights from the 2011 PFS include an NPV (at a 5% discount rate) of CAD$144.3 million (pre-tax) and a 19.6% IRR (pre-tax) using a base case of CAD$1,250/oz of gold (exchange rate CAD$ = 0.96 USD$). Total capital costs were estimated at CAD$159.2 million including a 13.7% contingency. Mineral reserve and mineral resource estimates for the 2011 PFS (Box and Athona deposits) included; 1.02 million ounces of gold (22.3 million tonnes at 1.4 g/t Au) in proven and probable reserves, 1.03 million ounces of gold (20.9 million tonnes at 1.5 g/t Au) in measured and indicated resources (included in the proven and probable reserves), and 0.23 million ounces of gold (4.6 million tonnes at 1.5 g/t Au) in inferred resources. The Project is endowed with established infrastructure including existing roads, powerline, and nearby facilities and an airport at Uranium City. The Project has a history of gold production (64,000 oz Au produced between 1939 to 1942), numerous exploration drilling campaigns (~80,000 metres of drilling in ~675 drill holes) and various mining studies (including a 2007 Feasibility Study for the Box deposit for GLR Resources Inc. that was prepared in accordance with NI 43-101). The Box open-pit mine and mill development is permitted having received Ministerial approval under the Environmental Assessment Act in May 2008. The 10,300 hectare Goldfields property presents numerous exploration opportunities, including the potential to expand the Box and Athona deposits and discover additional resources at several other gold prospects and occurrences.

                                                                                                         

About Fortune Bay

Fortune Bay Corp. (TSXV:FOR) is a gold-focused exploration and development company with 100% ownership in two advanced gold 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.

 

Cautionary Note Regarding Historical Mineral Resource and Reserve Estimates and Historical Results

A Pre-Feasibility Study (the “2011 PFS Technical Report”), with an effective date of October 6, 2011, was completed for the Goldfields Project by March Consulting Associates Inc. in cooperation with Wardrop (now Tetra Tech), Dan Mackie Associates (DMA) and EHA Engineering Ltd. The mineral resources and mineral reserves were classified according to the CIM Standards on Mineral Resources and Reserves: Definitions and Guidelines, November 2005 (“CIM 2005”) and incorporated, by reference, into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The 2011 PFS Technical Report was issued to Brigus Gold Corp. (“Brigus”), and subsequently re-issued to successor company, Fortune Bay on March 13, 2014. The full 2011 PFS Technical Report is filed on SEDAR (www.sedar.com) under Brigus’s issuer profile. The reader is cautioned that a Qualified Person has not done sufficient work to classify the mineral resources and mineral reserves stated in the 2011 PFS Technical Report as current resources and reserves. Fortune Bay is not treating this historical estimate as current mineral resources or reserves. While this estimate was prepared in accordance with NI 43-101 and CIM 2005 in effect at the time, there is no guarantee that it would be consistent with current standards and it should not be regarded as such. Fortune Bay has not undertaken any independent verification of the data upon which the historical estimates are based. The historical estimate is considered relevant to assess the mineralization and economic potential of the property.

Historical results, including drilling results, 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 drilling results relevant to assess the mineralization and economic potential of the property.

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Fortune Bay Corp is an annual featured mining company on InvestorIdeas. Please read our full disclaimer and disclosure regarding specific compensation More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp



 



Figure 1: Goldfields Project infrastructure and location map.



Figure 2: Box Deposit Drill Target Zones A and B.



Figure 3: Athona South Drill Target.


 


Get more mining stock investor ideas- news, articles, podcasts and stock directories

 

 

Mining stocks news alerts