Latest news with #Proterozoic
Time of India
2 days ago
- Science
- Time of India
UP's Salkhan Fossil Park in Unesco tentative list for heritage sites
Lucknow: Unesco has included the Salkhan Fossil Park, in UP's Sonbhadra, in its tentative list of World Heritage Centre. The revised list, dated June 4, was published by Unesco on Tuesday and released by UP Tourism on Thursday. The park has been recognised for its exceptional palaeobiological and geological significance. "The rings of Salkhan are more than fossils. They are our connection with Earth's earliest days. The state made concerted efforts to make the world understand the importance of this prehistoric site nestled in UP's eastern end," said Prakhar Mishra, director (ecotourism), UP tourism department. He said the Unesco tag, if it comes, would help UP "protect this treasure" and provide "economic opportunities to locals". "The inclusion would bring global recognition to one of the Earth's most ancient life-bearing records. Salkhan Fossil Park would figure among the world's most significant natural heritage sites, securing its place as a geological and cultural cornerstone not just for India, but for humanity," Mishra added. In its note on Salkhan, the Unesco said: "Salkhan Fossil Park is a remarkable geological site, nestled amidst the verdant embrace of the Kaimoor Wildlife Sanctuary. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo Spanning approximately 25 hectares, it sits within the Vindhyan mountain range, characterised by rugged terrain, steep escarpments, and a unique geological landscape. The park is home to a rich repository of fossils dating back approximately 1.4 billion years, making it one of the oldest and most well-preserved fossil sites in the world. " It said the site's fossil assemblage, scattered across various formations, features an exceptional collection of stromatolites (formations created by communities of cyanobacteria or blue-green algae, which are indicators of ancient environmental conditions and microbial life) while noting that the 'fossils appear as ripple or ring-like/circular or oval stony formations scattered across limestone rock surfaces. ' The document also noted that Salkhan's fossils are meticulously preserved, offering invaluable insights into the earliest forms of life that populated our planet during the Proterozoic Eon — a critical time in geological history, essential for understanding the evolution of life forms on Earth. "The park boasts a variety of stromatolitic morphologies, preserved within the Bhander limestone of the Vindhyan Supergroup, which features one of the most extensive and well-preserved collections of Proterozoic sedimentary rocks on Earth. Salkhan Park is situated within the 'Semri Group', the oldest part of the Supergroup," read the description. In Feb this year, six other sites from India were included in the Unesco World Heritage Centre tentative list — Kanger Valley National Park, Mudumal Megalithic Menhirs, Serial nomination for Ashokan Edict sites along the Mauryan Routes, Serial nomination of Chausath Yogini Temples, Serial nomination of Gupta Temples in North India, and Palace-Fortresses of the Bundelas.
Cision Canada
5 days ago
- Business
- Cision Canada
Power Metallic Awarded Jabal Baudan Exploration License in Saudi Arabia's Jabal Sayid Belt
TORONTO, June 16, 2025 /CNW/ - Power Metallic Mines Inc. ("Power Metallic" or the "Company") (TSXV: PNPN), a leading exploration and development company, is proud to announce that it has been awarded the exploration license for the Jabal Baudan project in Saudi Arabia's Jabal Sayid Mineralized Belt. This historic milestone positions Power Metallic as one of the few foreign companies with mining concessions in the Kingdom of Saudi Arabia, having secured a successful bid in this prestigious licensing process. Strategic Acquisition in a High-Potential Region The Jabal Baudan property, encompassing over 200 square kilometers, is the largest of the seven exploration packages offered in the Jabal Sayid belt. Situated approximately 150 kilometers south of Jeddah along the western Red Sea coastal plain, Jabal Baudan is recognized for its high prospectivity for copper, gold, and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid Mine and the promising Umm ad Damar deposit. Power Metallic's CEO, Terry Lynch, remarked: "We are honored to have been awarded the Jabal Baudan exploration license, marking a pivotal step in our strategy to expand our portfolio into one of the world's most promising mineral belts. This achievement underscores our commitment to advancing mineral exploration globally and highlights our ability to secure high-value assets in competitive jurisdictions." Location and Geology The Jabal Baudan property is in rugged mountainous terrain dissected by wadi systems that flow southward to the Red Sea. It is underlain by late Proterozoic volcanic, volcaniclastic, and sedimentary rocks, which are intruded by younger plutonic rocks ranging from gabbro to granite. This geological setting shares similarities with the nearby Umm Hiljan deposit, providing significant potential for the discovery of VMS-style mineralization. Historical exploration conducted by BRGM, Riofinex, and USGS between 1966 and 1985 has identified siliceous volcanic rocks and "ironstone" indicative of mineralizing systems conducive to VMS deposits. Power Metallic intends to leverage historical aeromagnetic survey data to refine its exploration strategy and outline key target areas. "The Jabal Baudan site is located at the heart of the most prospective region of Saudi Arabia. It is easily reachable by world quality infrastructure and initial samples have confirmed strong potential for a large range of minerals" Dr Remi Piet, Senior Partner at Embellie Advisory. Exploration Enablement Program (EEP): A Collaborative Opportunity The Jabal Baudan project benefits from the support of the Kingdom's Exploration Enablement Program (EEP), a $182 million initiative aimed at stimulating and de-risking mineral exploration investments in Saudi Arabia. Designed to foster knowledge exchange and mutual growth, the EEP provides up to $2 million per exploration license, capped at 15 licenses per company. Power Metallic's participation in this program will accelerate its geological understanding of the Jabal Baudan property, enabling the Company to prioritize high-potential zones for advanced exploration. Commitment to Advancing Saudi Arabia's Mining Sector Power Metallic's entry into the Kingdom aligns with Saudi Arabia's Vision 2030 initiative, which seeks to diversify the economy and position the country as a global leader in the mining sector. The Jabal Baudan project exemplifies the Kingdom's commitment to fostering foreign investment and developing its mineral resources in a sustainable and innovative manner. "Being part of Saudi Arabia's transformative mining landscape is a privilege and a responsibility we take seriously," added Terry Lynch, CEO. "We are committed to working collaboratively with local stakeholders, leveraging our expertise to unlock the immense potential of the Jabal Baudan property." Next Steps Power Metallic will commence exploration activities at Jabal Baudan with a comprehensive compilation and reconnaissance stage, followed by advanced exploration targeting high-priority zones. The Company will deploy cutting-edge exploration techniques to maximize the project's potential while adhering to world-class environmental and operational standards. About Power Metallic Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger) where the Company has discovered a rare Ortho Magmatic system comprised of high–grade nickel–copper–PGE, gold and silver system The last Ortho Magmatic system discovery was Anglo Americans Sakatti in Finland and other examples include Voisey's Bay and the world's only mine with over $1 Trillion dollars' worth of metal produced or in the ground the legendary Norilisk. On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins. Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs. Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. 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," "indicates," "opportunity," "possible" 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, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. SOURCE Power Metallic Mines Inc.
Associated Press
04-06-2025
- Business
- Associated Press
Troy Minerals Reports Drilling Results from the Lake Owen Project, Wyoming
Show 240.73 meters of Critical Metal Mineralization, Iron, Titanium, Vanadium, Scandium and Gallium VANCOUVER, BC / ACCESS Newswire / June 4, 2025 / Troy Minerals Inc. ('Troy' or the 'Company') (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to announce that complete results from Hole LO24-01 show strong critical metal mineralization over continuous 240.73 meters (from 10.67 meters to 251.40 meters) from its maiden drilling program on its 100% owned Lake Owen Project (the 'Project'), located 50 km southwest of Laramie, Wyoming, USA (see Figures 1,2). The Project is a Proterozoic layered mafic intrusion complex historically explored for Platinum Group Elements (PGE). Similar to the Stillwater Complex in the USA and the Merensky Reef of South Africa, the Lake Owen Complex shows strong potential for vanadium, titanium, PGE, and associated metals. In late 2024, the Company drilled two diamond holes totaling 607.77 meters near the southwestern claims' boundary (see Figure 3), marking Troy Minerals' first drill holes on the Project. These holes targeted titanium (TiO2) and vanadium (V2O5) mineralization linked with magnetite in gabbro, as well as reef-style PGE mineralization (see Company News Release dated February 28, 2025). A first pass of selective sampling of the drill holes had been carried out and demonstrated presence of anomalous titanium and vanadium mineralization. Elevated values of vanadium are correlative with the titanium. Sampling was selected to assess various lithological units and all zones with magnetite content up to 15-20% and/or visible sulfide mineralization. Magnetite content in the gabbro in hole LO24-01 is consistently about 5-10%. In LO24-01, the initially limited sampling suggested a large zone of titanium and vanadium-enrichment and higher relative values correlate well with the green gabbro. Associated with these anomalous zones have been elevated concentrations of scandium. Based on these initial results, additional infill sampling through all prospective lithologies was carried out by Company personnel in January, 2025. Results exhibit robust critical metal mineralization over 240.73 meters in hole LO24-01, including: Concurrent with Company infill sampling, geologists from the USGS and Wyoming State Geological Survey (WSGS) collected samples for Whole Rock, Major Oxides, and thin section analyses. Results of the USGS and WSGS work are pending. 'Our recent geological and geophysical findings, coupled with promising initial drilling results, are significantly enhancing our confidence in the Lake Owen Project. Each new insight reinforces our belief that this project deserves a robust exploration budget in the near future.' Said Yannis Tsitos, President of Troy. 'Beyond the historically recognized high grades of iron, titanium, and vanadium, the recent discovery of scandium and gallium-critical metals essential for applications in metal alloys, military and civil aviation, semiconductors, electric vehicles, and solar panels-underscores the project's immense potential for both our Company and the State of Wyoming in USA. We are committed to maximizing shareholder value through strategic development plans for Lake Owen, alongside our silica and rare earth element (REE) initiatives.' Table 1: Drill hole specifications Drill hole LO24-01 was designed to test the extent of the Lower Mag Gabbro down to the basement contact. Drilling revealed a series of interlayered magnetic gabbro and a distinctive coarse-grained green gabbro. The green coloration is imparted by pyroxenes altering to chlorite. These layers are generally constrained to widths of less than 4 metres. Table 2: Drill hole LO24-01 intersections 1: All intersections lengths are drill indicated thicknesses; insufficient work has been completed to reliably determine true thicknesses. 2: Elemental geochemical analyses were converted to oxides using following conversion factors Titanium - 1.6681, Vanadium - 1.7852, Iron - 1.2865, Scandium - 1.5338, Gallium - 1.3442 Drill hole LO24-02 intersected gabbroic units that are weakly magnetic and contain no anomalous values of titanium, vanadium, or scandium. This drill hole was collared deeper in the sequence than hole LO24-01; further down dip and stratigraphically lower in the Lower Mag Unit. Drill core was detail logged and sampled by Company staff. Core was split by saw with samples sent to ALS Global's laboratory in Reno, NV for preparation and analysis. Samples were analyzed for multi-elements (ME-MS61). The Company's quality control monitoring consisted of inserting certified reference and blank material in the sample stream. No quality control issues were identified. Only a very small portion of the Lake Owen Complex and therefore our Claims has been drill-tested to date. As currently mapped, the prospective Lower Mag Gabbro unit continues along strike to the west. The Company has yet to drill test the stratigraphically higher Upper Mag Gabbro. Surface mapping and sampling in 2023 identified two massive magnetite rock samples that returned 8.812% TiO2 and 0.548% V2O5, and 15.505% TiO2 and 0.586% V2O5 respectively (Figure 5). These represent priority drill targets for 2025. An historical drill hole was completed here not by Troy, but there was no assessment of titanium, vanadium, or scandium. Troy Minerals is planning its summer fieldwork for the Lake Owen Project. After analyzing airborne geophysical data, as reported in the May 21, 2025 news release, Troy will collect soil samples and conduct geological mapping and sampling. The aim is to refine drill targets for the 2026 season, including a relevant drilling pads application. Qualified Person The information contained in this news release has been reviewed and approved by Ted Vander Wart, a consultant to the Company, who is a qualified person as defined under National Instrument 43-101. About Troy Minerals Troy Minerals is a Canadian based publicly listed mining company focused on building shareholder value through acquisition, exploration, and development of strategically located 'critical' mineral assets. Troy is aggressively advancing its projects within the silica (silicon), vanadium, and rare earths industries within regions that exhibit high and growing demand for such commodities, in both North America and Central-East Asia. The Company's primary objective is the near-term prospect of production with a vision of becoming a cash-flowing mining company to deliver tangible monetary value to shareholders, state, and local communities. ON BEHALF OF THE BOARD, Rana Vig | CEO & Director Telephone: 604-218-4766 Email: [email protected] Forward-Looking Statements Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that Troy Resources Inc. (the 'Company') expects to occur, are 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 the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. SOURCE: Troy Minerals Inc. press release
Yahoo
05-02-2025
- Business
- Yahoo
Caprock Announces Grant of Incentive Stock Options
Toronto, Ontario--(Newsfile Corp. - February 4, 2025) - Caprock Mining Corp. (CSE: CAPR) ("Caprock" or the "Company"), announces that its Board of Directors has approved the granting of 6,030,000 incentive stock options (the "Options") to senior executives, directors and consultants of the Company. The Options grant the holder the right to purchase common shares in the capital of the Company (each, a "Common Share") at a deemed price of $0.06 per Common Share. The Options vest immediately and expire on February 4th, 2030. About Caprock Mining Corp. Caprock Mining Corp. is a Canadian mineral exploration company focused on exploring precious metals in Quebec and Ontario. The Company has an option to earn a 100% interest in the Destiny gold property that comprises 127 mineral claims and encompasses an area of 5,013 hectares located less than two hours' drive from Val D'Or, Quebec. Destiny lies along a major deformation corridor in the Abitibi greenstone belt that includes the prolific Cadillac-Larder Lake, Destor-Porcupine and Casa Berardi fault zones which host numerous producing and development-stage gold deposits. The Project overlies a 6.0 km long segment of the poorly explored Despinassay shear zone which is a splay off the regional Chicobi Fault. One of the several gold deposits discovered on Destiny is the DAC Deposit which has a near-surface, NI 43-101 compliant mineral resource estimate (the "Historical Estimate") published in 2011 comprising the following gold inventory: 10.8 million tonnes averaging 1.05 g/t Au and containing 364,000 ounces Au in the Indicated category; and 8.3 million tonnes averaging 0.92 g/t Au and containing 247,000 ounces Au in the Inferred category. (The Historical Estimate is based on the March 2011 NI 43-101 technical report on the DAC Deposit authored by Todd McCracken, who is an independent qualified person pursuant to NI 43-101 working for Wardrop and prepared for Alto Ventures Ltd., a previous owner of the Property. Management of the Company believes that the Historical Estimate is reliable based on the fact that it was prepared by a qualified person with extensive experience in Archean and Proterozoic gold deposits, working for a world-renowned resource firm. In order to bring this Historical Estimate to current relevance, the estimate needs to be re-generated using current economic parameters in the context of the current gold price environment and latest costing estimates. The key assumptions and parameters of the Historical Estimate are as follows: (i) drill holes used: 152; (ii) gold price of US$973/oz; (iii) strip ratio: 4:1; (iv) cut-off grade: 0.5 g/t Au; (v) FX Rate: 1.02 CAD - 1.00 USD; (vi) gold recovery: 94%; (vii) operating cost: $14.30/tonne; and (viii) operating rate: 10,000 tpd. Furthermore, the Company would like to note that the Historical Estimate's global block model statistics showed good agreement between all three separate modeling methods, including ordinary kriging, inverse distance squared and nearest neighbour. The Historical Estimate does not use categories other than the ones set out in Sections 1.2 and 1.3 of NI 43-101.) Additionally, the Company holds a 100% interest in three gold exploration properties in the historical Beardmore-Geraldton Gold Belt of Ontario - a belt that has produced over four million ounces of gold historically (Reference: Beardmore-Geraldton Gold Camp - Tashota Resources), and contains the sizeable Greenstone gold project (formerly known as the Hardrock gold project) which is being brought to production by Equinox Gold (TSE:EQX) (Reference: Greenstone Gold Mines - Mining & Processing). The scientific and technical information disclosed in this release has been reviewed and approved by Mr. Vishal Gupta, the Company's President & CEO. Mr. Gupta is a registered with the Professional Geoscientists of Ontario (PGO) and considered a "Qualified Person" as defined under NI 43-101. Forward Looking Statements All statements in this press release about anticipated future events or results constitute forward-looking statements including, but not limited to, statements with respect to: the Company's plans and expectations for the Destiny Project. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Although Caprock believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Caprock can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Caprock's periodic filings with Canadian securities regulators. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Caprock's expectations include risks associated with the business of Caprock; risks related to reliance on technical information provided by Caprock; risks related to exploration and potential development of the Company's mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Caprock's filings with Canadian securities regulators on SEDAR+ in Canada (available at Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Caprock does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. For More Information Please contact: Vishal Gupta, President & CEO Tel.: (647) 466-0506; E-Mail: vgupta@ Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this Release. To view the source version of this press release, please visit Sign in to access your portfolio
