Latest news with #PreliminaryEconomicAssessment
The Market Online
13 hours ago
- Business
- The Market Online
Cygnus raises $16.2M to accelerate resource growth and mining studies
Cygnus Metals (TSXV:CYG) received firm commitments from institutional and sophisticated investors to raise approximately C$16.2 million (before costs) through a two-tranche share placement Proceeds from the financing will be directed toward exploration and resource growth at the Chibougamau Copper-Gold Project The company is planning a resource update next quarter Cygnus Metals stock (TSXV:CYG) last traded at $0.08 Cygnus Metals (TSXV:CYG) has received firm commitments from institutional and sophisticated investors to raise approximately C$16.2 million (before costs) through a two-tranche share placement. The capital raise will support the company's continued exploration and development activities at its flagship Chibougamau Copper-Gold Project in Québec, Canada. The placement will involve the issue of 212,790,697 fully paid ordinary shares at an issue price of $0.086 per share, representing an 8.5 per cent discount to the last closing price of $0.094 on 17 June 2025. Following the placement, Cygnus forecasts a pro-forma cash balance of approximately C$21.0 million as of 30 June 2025 (before placement costs), significantly strengthening its financial position. Proceeds from the financing will be directed toward: Exploration and resource growth at the Chibougamau Copper-Gold Project Resource conversion and permitting activities Advancing technical studies based on the 2022 Preliminary Economic Assessment (PEA) completed by Doré Copper Mining Corp. General working capital and placement-related costs The placement will be conducted in two tranches: Tranche 1 : Comprising 211,627,907 shares to raise approximately C$16.1 million under the company's existing placement capacity under to ASX listing rules. Settlement is expected on 26 June 2025. : Comprising 211,627,907 shares to raise approximately C$16.1 million under the company's existing placement capacity under to ASX listing rules. Settlement is expected on 26 June 2025. Tranche 2: Comprising 1,162,790 shares to raise up to C$88,810.00, to be issued to Non-Executive Director Raymond Shorrocks or his nominees. This tranche is subject to shareholder approval at a General Meeting anticipated in August 2025. 'We have been generating outstanding results at Chibougamau and the proceeds of this raising will enable us to unlock the value much faster,' Cygnus Managing Director David Southam said in a news release. 'There is clearly immense scope to grow and upgrade the project's resource on the back of Corner Bay and Golden Eye. Given this potential, we want to move as quickly as possible on the exploration front and advance our study work at the same time. This comes against a backdrop of increased M&A activity in the copper space which demonstrates that finding high-grade copper/gold projects with infrastructure in mining friendly jurisdictions are rare – we just happen to have one of the best.' Following a successful drilling campaign at the flagship Corner Bay deposit and the identification of high-grade gold/copper at the new Golden Eye prospect, the company is planning a resource update next quarter. Cygnus Metals Ltd. is a critical minerals exploration and development company with projects in Québec, Canada and Western Australia. Cygnus Metals stock (TSXV:CYG) last traded at $0.08. Join the discussion: Find out what everybody's saying about this stock on Cygnus Metals' Bullboard, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Toronto Star
2 days ago
- Business
- Toronto Star
White Gold Corp. Appoints Dylan Langille Member of Great Bear Resources Discovery Team as Vice President of Exploration
TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the 'Company') is pleased to announce the appointment of Dylan Langille as Vice President of Exploration of the Company. Dylan brings a decade of experience in mineral exploration, with a proven track record in gold discovery and project advancement across Canada's most prolific gold camps. Most recently, he was part of the core discovery team at the Great Bear Project in Red Lake, Ontario with Great Bear Resources Ltd (TSX.V: GBR). Following the acquisition of Great Bear by Kinross Gold, Dylan led exploration efforts focused on growing the resource base ahead of a maiden Preliminary Economic Assessment, contributing to one of Canada's most significant recent gold discovery stories. Dylan is known and respected for his strategic and innovative mindset, and ability to integrate multidisciplinary data to guide discovery and de-risk exploration. His experience spans grassroots target generation through to advanced-stage resource delineation in both greenfield and brownfield settings.
Yahoo
3 days ago
- Business
- Yahoo
White Gold Corp. Appoints Dylan Langille Member of Great Bear Resources Discovery Team as Vice President of Exploration
TORONTO, June 18, 2025 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company') is pleased to announce the appointment of Dylan Langille as Vice President of Exploration of the Company. Dylan brings a decade of experience in mineral exploration, with a proven track record in gold discovery and project advancement across Canada's most prolific gold camps. Most recently, he was part of the core discovery team at the Great Bear Project in Red Lake, Ontario with Great Bear Resources Ltd (TSX.V: GBR). Following the acquisition of Great Bear by Kinross Gold, Dylan led exploration efforts focused on growing the resource base ahead of a maiden Preliminary Economic Assessment, contributing to one of Canada's most significant recent gold discovery stories. Dylan is known and respected for his strategic and innovative mindset, and ability to integrate multidisciplinary data to guide discovery and de-risk exploration. His experience spans grassroots target generation through to advanced-stage resource delineation in both greenfield and brownfield settings. 'I'm excited to join White Gold at such a pivotal time in the Company's evolution,' said Dylan Langille. 'With strong market conditions, increasing demand and interest for high-quality gold projects, and with White Gold's district-scale land position in a tier-one jurisdiction, the company presents a compelling opportunity in the sector and is well positioned for growth through new discovery. I look forward to working with the team to unlock further value across its unique portfolio of advanced assets and grass root targets and to build on the Company's exploration success to date.' 'Dylan's experience and impressive accomplishments bring a complimentary skillset to continue to advance White Gold's extensive discovery pipeline, which already boasts significant defined gold resources and other prospective opportunities for new discoveries,' stated David D'Onofrio, Chief Executive Officer of the Company. Other Matters The Company also announces that a total of 4,750,000 options to purchase common shares of the Company have been granted to directors, officers, employees and consultants at an exercise price of $0.265 per share, expiring on June 18, 2030. About White Gold Corp. The Company owns a portfolio of 15,364 quartz claims across 21 properties covering approximately 300,000 hectares (3,000 km2) representing approximately 40% of the Yukon's emerging White Gold District. The Company's flagship White Gold project hosts four near-surface gold deposits which collectively contain an estimated 1,203,000 ounces of gold in Indicated Resources and 1,116,600 ounces of gold in Inferred Resources (this news release). Regional exploration work has also produced several other new discoveries and prospective targets on the Company's claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.1 Moz at 1.28 g/t gold and Inferred Resources of 0.2 Moz at 1.04 g/t gold(2), and Western Copper and Gold Corporation's Casino project which has Measured and Indicated Resources of 7.6 Blb copper and 14.5 Moz gold and Inferred Resources of 3.3 Blb copper and 6.6 Moz gold(3). For more information visit (1) See White Gold Corp. technical report titled '2024 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada', Effective Date October 28, 2024, Report Date January 3, 2025, NI 43-101 Compliant Technical Report prepared by Dr. Gilles Arseneau, of ARSENEAU Consulting Services Inc. ('ACS'), available on SEDAR+. (2) See Newmont Corporation Form 10-K: Annual report for the year ending December 31, 2023, in the Measured, Indicated, and Inferred Resources section, dated February 29, 2024, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in accordance with the Regulation S-K 1300, and do not indicate NI43-101 compliance. (3) See Western Copper and Gold Corporation technical report titled 'Casino project, Form 43-101F1 Technical Report Feasibility Study, Yukon Canada', Effective Date June 13, 2022, Issue Date August 8, 2022, NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE, Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, Daniel Friedman, Scott Weston, available on SEDAR+. Cautionary Note Regarding Forward Looking Information This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'proposed', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company's objectives, goals and exploration activities conducted and proposed to be conducted at the Company's properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company's properties will be successful; exploration results; and future exploration plans and costs and financing availability. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as 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 materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: The expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company's properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described under the heading 'Risks Factors' in the Company's annual information form dated July 29, 2020 available on SEDAR+. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law. Contact Information: David D'OnofrioChief Executive OfficerWhite Gold Corp.(647) 930-1880 ir@ Request Meeting: in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Scottie Announces Selection of Tetra Tech to Lead PEA Study
Vancouver, British Columbia--(Newsfile Corp. - June 16, 2025) - Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8) ("Scottie" or the "Company") is pleased to announce that it has selected Tetra Tech Inc. ("Tetra Tech") to lead the study work for a Preliminary Economic Assessment ("PEA") on its 100% owned Scottie Gold Mine Project, which includes the historic mine and adjacent Blueberry Contact Zone located in British Columbia's Golden Triangle mining jurisdiction. The Company is targeting the completion of the PEA in Q4 2025. The PEA will investigate a high-margin DSO operation to deliver a gold concentrate to Asian copper/precious metals smelters. By design, the operation will eliminate the need for a gold processing plant and tailings facility, thereby significantly reducing the capital required and resulting in a minimal environmental footprint. The PEA will be based on the recently reported Inferred Mineral Resource Estimate ("MRE") of 703,000 ounces of gold at an average grade of 6.1 g/t gold (see NR dated May 7, 2025). The project envisages a shallow open pit on the Blueberry Zone to start, followed by underground production from both Blueberry and the past-producing Scottie Gold Mine. Sean Masse, COO of Scottie stated: "The selection of Tetra Tech as our PEA partner is a considerable step towards development. The PEA will allow us to clearly show the value of the deposits at the Scottie Gold Mine, and the minimal capital required to reach production. The pathway to production illustrated in our recently completed Regulatory Road Map clearly defines the necessary environmental considerations and permit requirements. The timelines for this mesh well with the necessary stages of engineering and technical studies required for production." Additional Technical Studies In conjunction with the initiation of the PEA study, Scottie has advanced additional studies on the project, including: Initiation of Phase 2 - Ore Sorting Study Initiation of a Dense Media Separation (DMS) Study Completion of a Regulatory Road Map for Mine Permitting Ore Sorting The Phase 2 - Ore Sorting Study, led by ABH Engineering, is designed to follow up on the positive results from the previous PEA level study (see NR dated April 1, 2025). The Phase 2 test will consist of large three-stage cascade ore sorting tests on full scale XRF and XRT machines. The composite samples collected for these tests were designed to mirror the grades and mineralogy of zones in the Company's maiden resource estimate, with samples selected to represent the Blueberry open pit, Blueberry underground, and Scottie Gold Mine underground. The composite samples were created from ¼ core intervals taken from drill intercepts from the 2019-2024 drill programs. This phase of testing will help to determine the optimal sorting conditions suitable for production and will be suitable for a Feasibility level study. The samples have been shipped, and the tests are being done on full scale ore sorting machines based in Canada (XRT) and South Africa (XRF). Results are expected in early Q4 2025. DMS testing The DMS study is being completed by Sepro Systems ("Sepro") to assess the potential upgrade of the fines byproduct created due to onsite crushing before ore sorting. The initial scoping level test will use heavy liquid separation on ~20 kg samples to evaluate the effectiveness. Based on the strong associations between gold zones and sulphide minerals pyrrhotite and pyrite, favourable XRT results from the Phase 1 - Ore Sorting study, it is anticipated that DMS will prove to be a viable technique to further enhance the economics of the project. The composite sample has been created and shipped; the initial tests are expected to be completed in late Q3 2025. Regulatory Road Map To better understand the permitting pathways, timelines, and anticipated costs, Scottie engaged Falkirk Environmental Consultants ("Falkirk") to develop a Regulatory Road Map which was completed in May. The report provides a clear a pathway to production in as short as a 36-month timeframe and identified the critical risk factors and rate-limiting steps in the process. The company has developed a strategy and is commencing work on the critical path elements. ABOUT SCOTTIE RESOURCES CORP. Scottie owns a 100% interest in the Scottie Gold Mine Property which includes the Blueberry Contact Zone and the high-grade, past-producing Scottie Gold Mine. Scottie also owns 100% interest in the Georgia Project which contains the high-grade past-producing Georgia River Mine, as well as the Cambria Project properties and the Sulu and Tide North properties. Altogether Scottie Resources holds approximately 58,500 hectares of mineral claims in the Stewart Mining Camp in the Golden Triangle. The Company's focus is on expanding the known mineralization around the past-producing mines while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource. All of the Company's properties are located in the area known as the Golden Triangle of British Columbia which is among the world's most prolific mineralized districts. Additional Information Brad RourkeCEO+1 250 877 9902brad@ Gordon RobbBusiness Development / IR+1 250 217 2321gordon@ Forward-Looking Statements This news release may contain forward‐looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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 forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company 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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release. To view the source version of this press release, please visit
Cision Canada
5 days ago
- Business
- Cision Canada
P2 Gold Announces Positive Interim Metallurgical Results
VANCOUVER, BC, June 16, 2025 /CNW/ - P2 Gold Inc. ("P2" or the "Company") (TSXV: PGLD) (OTCQB: PGLDF) reports positive interim test results from the metallurgical program underway for its gold-copper Gabbs Project located on the Walker-Lane Trend in Nevada. The Company retained Kappes, Cassiday & Associates ("KCA") in Reno, Nevada to carry out the Phase Three Metallurgical Program, which is focused on increasing copper and gold recoveries of the oxide mineralization and providing a marketing sample of the copper-silver SART (sulphidization, acidification, recycling and thickening) concentrate. After 58 days of leaching, the metal recoveries of the Phase 3 Metallurgical Program are far exceeding the recoveries from the Phase Two Metallurgical Program and are exceeding the recoveries used in the May 2024 Preliminary Economic Assessment on the Gabbs Project. See Table 1 below for a comparison of the Phase Three results at 58 days to the Phase Two results at 58 days and the recoveries used in the 2024 Preliminary Economic Assessment. Table 1: Comparison of Interim Oxide Samples Column Test Leach Results at Day 58 (1)(2) (1) Samples were submitted for preparation and multi-element analysis by KCA. All samples were analyzed using multi-acid digestion with ICP finish for silver and copper and fire assay with AA finish for gold. (2) Interim recoveries based are on standard assaying protocols and will be subject to change at the end of the program when tail assays are available and incorporated into the calculated head assays. (3) See P2 Gold news release dated May 22, 2024, and the Gabbs Technical Report dated May 17, 2024 available under the Company's profile on SEDAR+ at and on the Company's website at "The Phase Three Metallurgical Program was established with a target of improving the leach kinetics and overall extraction by adding cyanide during agglomeration and by increasing the cyanide concentration in the leach solutions," commented Joe Ovsenek, President & CEO of P2. "Interim test results indicate that all metals are leaching significantly faster than the prior tests, with metal recoveries exceeding those used in our May 2024 PEA and still increasing." The Phase Three Metallurgical Program is expected to continue for another 30 to 60 days to achieve maximum recoveries. Final metallurgical recoveries will be announced upon completion of the program. Prior Metallurgical Programs The Phase One Metallurgical Program included testing for the potential recoveries of copper and gold from oxide mineralization by sequential leach using heap leach or conventional milling. The test work showed that gold and copper can be recovered by both process options, with extractions averaging 97.2% for gold and 95.2% for copper when the sample is ground to 100 microns. (See P2's news release of August 4, 2021.) The Phase Two metallurgical program, also conducted by KCA, was focused on determining the preferred extraction process for the Gabbs mineralization. Based on the results of that program, KCA proposed that the oxide material be heap leached and gold recovered as a salable doré and cyanide soluble copper produced as a salable copper sulphide concentrate. Column test leach results ranged up to 89% for gold and 62% for copper. The average extraction for the three column tests was 82% for gold and 50% for copper. (See P2's news release of May 13, 2022.) Qualified Person Ken McNaughton, Chief Exploration Officer, P2 Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Gabbs Project. Mr. McNaughton has reviewed, verified, and approved the scientific and technical information in this news release. About P2 Gold Inc. P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical testing is underway, and a water permit is expected in the second quarter of this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready. Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, information with respect to the Company's expectations, strategies and plans for its Gabbs Project including the Company's planned expenditures and exploration activities. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, the estimated internal rate of return and net present value at a 5% discount rate of the Gabbs Project, as well as the other assumptions disclosed in this news release. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information, including without limitation, the estimates and assumptions contained in the Gabbs Technical Report dated May 17, 2024, and risks associated with mineral exploration, including the risk that actual results and timing of exploration and development will be different from those expected by management. See "Risk Factors" in the Company's annual information form for the year ended December 31, 2024, dated March 21, 2025 filed on SEDAR+ at for a discussion of these risks. The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof. SOURCE P2 Gold Inc.
