Thursday 27th July 2017

Resource Clips


Posts tagged ‘b.c.’

New assays on old core reveal more diamonds on Arctic Star Exploration’s new Finnish acquisition

July 26th, 2017

by Greg Klein | July 26, 2017

Just weeks after announcing plans to take on a diamond project in Finland, Arctic Star Exploration TSXV:ADD has found further encouragement by reanalyzing previous work. Recent assays on 48.65 kilograms of historically extracted split core showed 111 microdiamonds. The results represent approximately 52.7 metres of core from the Timantti property’s White Wolf kimberlite.

New assays on old core reveal more diamonds on Arctic Star Exploration’s new Finnish acquisition

A due diligence program reported earlier this month confirmed 58 microdiamonds from an 18.9-kilogram White Wolf sample.

With most of the world’s diamond-bearing kimberlites showing an exponential relationship between small and large stones, the company plans to gather enough caustic fusion samples to evaluate the property’s diamond size distribution. Following ground geophysics, Arctic Star hopes to drill Timantti for additional samples, delineating the kimberlites’ size and shape.

Looking at an entirely different range of commodities, the company last week sent a drill crew to the Cap project in east-central British Columbia’s Rocky Mountain Rare Metal Belt. Tantalum, niobium and rare earths are among the targets on the 2,825-hectare property. In 2010 sampling results included 0.14% Nb2O5, 3,191 ppm zirconium and 547 ppm total rare earth elements. More sampling the following year brought grades including 0.27% Nb2O5 and 773 ppm TREE, while two historic, non-43-101 samples showed 0.13% and 0.1% TREE.

Arctic Star also holds a 40% interest in the Northwest Territories’ Diagras diamond project, where JV partner Margaret Lake Diamonds TSXV:DIA conducted a short geophysical program last May.

Hedging his energy bets

July 24th, 2017

Adrian Lamoureux of 92 Resources pursues green lithium and fossil-fuel frac sand

by Isabel Belger

Isabel Belger

Isabel Belger

Isabel: I would like to introduce the CEO of 92 Resources TSXV:NTY Adrian Lamoureux. Hi Adrian, it is a pleasure to talk to you again. To get started I would like to ask you to tell us a little bit about your background and how you became CEO of 92 Resources.

Adrian: Hi Isabel, thank you for having me. I had been active with finance and investor relations for public companies for about a decade before I received my opportunity to run one. Raising capital and marketing helped me form very strong opinions on how a company should be run, so I was always looking to move up the corporate ranks.

Isabel: 92 Resources has two lithium projects. One is in the Northwest Territories and one is in Quebec. What makes these projects so valuable?

Adrian: Lithium is not only a commodity for today, but rather a commodity for tomorrow. We see today’s strong demand as just the beginning, with a global push towards green energy. Simply put—lithium is the way of the future.

Isabel: What are the highlights on these projects so far?

Adrian: Hidden Lake, NWT, has been successful right from the get-go. Last summer we pulled a sample high of 3.08% Li2O and a channel sample of 1.9% Li2O over 9.02 metres. Most recently we conducted a metallurgical program, where we produced a 6.16% Li2O concentrate.

Adrian Lamoureux of 92 Resources pursues green lithium and fossil-fuel frac sand

Initial metallurgical tests suggest the suitability of conventional
processing methods for pegmatites from Hidden Lake. The 1,100-
hectare property has nearby highway access leading to Yellowknife,
about 40 kilometres west.

Isabel: 92 Resources also has a frac sand project in British Columbia. I am not sure if everyone knows what frac sand is and is used for. Could you give a brief introduction to the application and demand, as well as of course about your project itself?

Adrian: The Golden frac sand property is ideally situated. Our project sits immediately adjacent to a frac sand [deposit] and rail access. Some of the biggest oil basins in North America are shale, and the best method of extraction is through fracking. Sand is forced down horizontal wells under high pressure, bracing cracks within the shale open, which is where the oil can be liberated and pumped out. The demand for frac sand has continued to grow in light of a slip in oil prices. This is attributed to re-fracking of older wells, a higher rig count and increased frac sand intensity on a per-well basis.

Isabel: What is the most exciting thing happening right now at 92 Resources?

Adrian: We’re having success on multiple fronts. I feel we are at the right place at the right time.

Isabel: What are the plans for the rest of 2017 and what are the next milestones for 92 Resources?

Adrian: Our plans are focused, continued growth through acquisition and development. We need to move vertically with current demand and always be looking to where future demand should be.

Isabel: What do you like about the mineral exploration business?

Adrian: I like being able to take an idea or concept and turn it into something real, something that shareholders and hopefully the world can benefit from.

Isabel: What is your favourite commodity and why?

Adrian: Lithium is my favourite. This green energy commodity is changing the world as we know it.

Isabel: Thank you very much for your time, Adrian.

Adrian Lamoureux

Adrian Lamoureux,
92 Resources CEO

Bio

Adrian Lamoureux has worked in the venture capital markets for the past eight years, specializing in the design and implementation of market strategies and corporate development. He has particular expertise in the mineral exploration and development sector. During his time working in venture capital markets, Lamoureux has financed a number of successful private and public companies.

Fun facts

My hobbies: European football

My favourite airport: Schiphol, Amsterdam

My favourite tradeshow: PDAC in Toronto

My favourite commodity: Lithium

With this person I would like to have dinner: Cristiano Ronaldo

If I could have a superpower, it would be: Invisibility

My role model: My father

Read more about 92 Resources’ Hidden Lake lithium project and Golden frac sand project.

About time: BCSC warns investors of “Vancouver Stock Exchange”

July 20th, 2017

by Greg Klein | July 20, 2017

Juniors, brokers, promoters desert Toronto to revive the Vancouver Stock Exchange

Better late than never, a warning sign
stands guard outside the former VSE building.

Whether inspired by a death wish or sheer audacity, an alleged scam has been named after the reputed scam capital of the world. On July 19 the British Columbia Securities Commission warned investors that a company called Vancouver Stock Exchange Corp “appears to have been issuing stock exchange listings to companies in China and B.C…. VSEC holds itself out as being the old Vancouver Stock Exchange (VSE). In fact, the VSE no longer exists.”

Moreover the new entity has no authorization to operate as an exchange in B.C.

The VSE merged with the Alberta exchange in 1999 to form the Calgary-based Canadian Venture Exchange, which was taken over in 2001 by the TMX Group’s (TSX:X) predecessor. But according to the commission, “VSEC claims that, in June of 2016, the old Vancouver Stock Exchange was reinstated as an independent exchange.”

VSEC’s Chinese-language website “identifies the companies that it purports to have approved for listing and capital raising,” the BCSC added. Anyone with info about VSEC is asked to contact BCSC Inquiries at 604-899-6854, 1-800-373-6393 or inquiries@bcsc.bc.ca.

On April 1, 2016, ResourceClips.com spoofed that a group of stock promoters planned to re-open the infamous VSE. See other April 1 stories:

Diamond explorer Arctic Star to drill B.C. property for rare earths and rare metals

July 19th, 2017

by Greg Klein | July 19, 2017

With a crew now en route, Arctic Star Exploration TSXV:ADD prepares to begin a summer field program at its Cap project in east-central British Columbia. Located in the Rocky Mountain Rare Metal Belt, the 2,825-hectare property has undergone geochemical and geophysical surveys suggesting potential for carbonatite intrusions which might host niobium, tantalum and/or rare earth elements. A program of about three holes and 1,000 metres will further investigate the potential.

Diamond explorer Arctic Star to drill B.C. property for rare earths and rare metals

Piquing interest in the property is a circular magnetic anomaly measuring about three to five kilometres in diameter that the company interprets to represent a carbonatite or similar intrusion. Geochem sampling in 2010 on two dykes near the most prominent mag anomaly brought grades including 0.14% Nb2O5, 3,191 ppm zirconium and 547 ppm total rare earth elements, Arctic Star reported.

In 2011, following radiometrics and additional magnetics, the company found more highly anomalous grades with samples containing 0.27% Nb2O5 and 773 ppm TREE. Two historic, non-43-101 samples assayed 0.13% and 0.1% TREE.

Contrasting luxuries with critical minerals, Arctic Star last week announced plans to acquire a diamond project in Finland. The diamondiferous kimberlites of the Timantti property sit on the Fennoscandian Shield, home to the major Russian diamond mines Lomonosov and Grib.

In May the company announced a short program of geophysics on the Diagras diamond project in the Northwest Territories, where Arctic Star has a 40% stake with JV partner Margaret Lake Diamonds TSXV:DIA holding the rest.

Barite concentrate from Mountain Boy Minerals’ B.C. project surpasses industry standards

July 18th, 2017

by Greg Klein | July 18, 2017

It’s a commodity essential to oil and gas drilling and one that the North American industry relies mostly on imports. But Mountain Boy Minerals TSXV:MTB has found barite on its Surprise Creek property in northwestern British Columbia’s Golden Triangle. Now metallurgical tests have produced a concentrate that far exceeds standards of the American Petroleum Institute, the company announced July 18.

Barite concentrate from Mountain Boy Minerals’ B.C. project surpasses industry standards

Mountain Boy explores the Golden Triangle for base
and precious metals, as well as industrial minerals.

“We are talking about a mineral which, according to the 2016 USGS report on barite, sells for an average of $198 f.o.b. mill with industry relying on imports for 78% of its needs,” said chairperson René Bernard. “With this knowledge in hand we can now promote our location within short trucking distance to deep water port, infrastructure, metal credits and proximity to key markets to attract industry partnerships. Our goal is to have a 43-101 industrial mineral resource later this year after all drilling is completed.”

Flotation tests were applied to a VMS-mineralized intercept that assayed 0.12 g/t gold, 28 g/t silver, 1.21% zinc, 0.03% lead, 0.31% copper and 46.73% barite over 18.94 metres. The hole remained open as drilling was suspended due to bad weather.

Flotation first separated copper and zinc, producing a concentrate of 26.2% copper at 70.5% recovery and 53.8% zinc at 89.1% recovery in an open cycle batch test. Higher recovery would be anticipated in a closed circuit test, the lab reported.

The tailings then underwent open circuit flotation, producing 91.6% BaSO4 at 83.2% recovery. The lab estimated that locked cycle tests could bring barite recovery closer to 90%.

The core comes from a drill hole on the Ataman zone, which extends over 1,200 metres of strike and comprises one of a number of the 100%-optioned property’s VMS zones. Last year’s surface work found a 25-metre-wide barite zone with significant base metals values 120 metres west of the hole, Mountain Boy stated. “Surface work also indicated barite zones extending to the mountaintop.”

This year’s Surprise Creek plans include further definition of sulphide/sulphide-barite zones and natural barite veins, along with additional metallurgical work on 2017 drill core, as well as the 43-101 resource.

Reporting on another northwestern B.C. project earlier this month, Mountain Boy announced the third hole in a row showing visible gold from its 35%-held Red Cliff property.

The company’s Golden Triangle portfolio also includes a 100% option on the BA project; a 20% stake in Silver Coin, a gold-silver-base metals project with a resource estimate; the MB property, with historic, non-43-101 polymetallic estimates; a 50% stake in the George property, with non-43-101 copper-silver-gold estimates; the American Creek and Bear Valley silver-base metals projects; as well as copper-gold claims. In southern B.C., Mountain Boy plans to begin PEA studies on its Manuel Creek zeolite project.

Read Isabel Belger’s interview with Mountain Boy Minerals chairperson René Bernard.

See an infographic about B.C.’s Golden Triangle.

Initial metallurgy looks positive for 92 Resources’ NWT lithium project

July 18th, 2017

by Greg Klein | July 18, 2017

Encouraging metallurgical results have come early for 92 Resources’ (TSXV:NTY) Hidden Lake project. Preliminary beneficiation tests for the road-accessible Northwest Territories property suggest favourable liberation characteristics and “amenability to simple and conventional spodumene mineral processing methods,” the company announced July 18. The lab conducted five flotation tests on a composite sample from four pegmatites on the Northwest Territories project. A standard flowsheet was used.

Initial lithium metallurgy brings 92 Resources a 6.16% concentrate at 79% recovery for NWT project

Backed by encouraging lab work, 92 Resources reactivates
its Hidden Lake camp this summer for another field program.

Results brought a “high-grade” spodumene concentrate of 6.16% LiO2 at 79% recovery, with an average spodumene lithium content of 3.8% lithium (or about 8.2% LiO2), close to the maximum theoretical limit, 92 Resources stated.

A low iron content also suggests the high quality of Hidden Lake spodumene. In a further advantage to mineral processing, the company added, tests confirmed the property’s dominant mica to be muscovite with low levels of lithium. Muscovite with high lithium levels “would dilute the lithium content of a final concentrate, as typically the lithium content would be significantly less than that of spodumene.”

“This initial work demonstrates the high-lithium/low-iron nature of the spodumene at Hidden Lake, as well as its favourable upgrading characteristics, both of which are highly attractive attributes of the project,” said president/CEO Adrian Lamoureux.

Phase II beneficiation tests will include magnetic separation, heavy liquid separation and further flotation on material collected during the upcoming summer field program.

Channel sampling last year tested four of the property’s six known lithium-bearing spodumene dykes, bringing assays up to 1.58% Li2O and 31 ppm Ta2O5 over 8.78 metres.

In January the company filed a 43-101 technical report for Hidden Lake. The 1,659-hectare property has year-round road access to Yellowknife, about 40 kilometres southwest.

92 Resources also keeps busy with its Golden frac sand project in eastern British Columbia, adjacent to Heemskirk Canada’s Moberly silica mine. Last month’s 10-day field program at Golden will provide data for a 43-101 technical report.

In northern Quebec, 92 Resources also holds the 5,536-hectare Pontax River lithium project.

The company closed an oversubscribed $895,199 private placement in February and received a $140,000 award under the NWT Mining Incentive Program in June to offset Hidden Lake expenditures.

How green are their ridings?

July 13th, 2017

A vehicle-deprived vagabond travels through Canada’s Green Party stronghold

by Greg Klein

A vehicle-deprived vagabond travels through Canada’s Green Party stronghold

A Cowichan Valley boat ramp parking lot shows the region’s preferred
mode of transport. Those tow hitches aren’t for canoes or kayaks, either.

 

The traffic’s fast and furious. That’s alarmingly apparent as you risk crossing the road to any of the locally famous caffeineries after perusing the locally produced arts, crafts and food tempting visitors at Salt Spring Saturday Market. This is Ganges, a charming town in Saanich North and the Islands, one of three ridings that awarded the balance of power to the Greens in last May’s British Columbia election. But it’s unmistakeably car country.

Green MLAs will hold considerable influence in B.C.’s legislature as long as they can prop up the New Democratic Party minority government. Part of Canada’s Green power base, Saanich North and the Islands nearly coincides with the federal constituency of Green MP Elizabeth May and forms part of a trio of nearby provincial ridings that elected one incumbent and two new Green MLAs.

By comparison the rest of Canada has just two Green MLAs (one each in New Brunswick and Prince Edward Island) and zero MPs.

A vehicle-deprived vagabond travels through Canada’s Green Party stronghold

B.C. Green leader Andrew Weaver represents
a beautiful but largely car-dependent suburb.

A nice spring afternoon in this Salt Spring Island town notwithstanding, Ganges hosts many more people behind the wheel than on foot. And they seem to be in one hell of a hurry. In their defence, some residents say Salt Spring has Canada’s highest proportion of EV ownership.

Speaking to CBC, one island dweller divulged unofficial data showing “111 electric cars [out of 10,640 people, over half of them old enough to drive], when statistically in Canada we should only have five.” Maybe, but the noise of this little town’s hustle and bustle suggests overwhelming loyalty to fossil fuels.

Like the other islands in Green MLA Adam Olsen’s constituency, Salt Spring’s linked to the outside world mostly by B.C. Ferries. To the frustration of foot passengers, the provincially owned company typically locates its terminals in out-of-the-way spots to provide plenty of parking space. One of the riding’s biggest employers, B.C. Ferries normally makes vehicle ownership a job requirement for employees at its terminals.

To the further frustration of the car-less, B.C. Ferries schedules sync poorly with those of B.C. Transit, the provincial purveyor of municipal and regional bus service. It offers very occasional service on Salt Spring and none on the riding’s other islands.

 

Stroll along Oak Bay Avenue or any other Oak Bay-Gordon Head main drag and you’ll probably notice drivers exercising an un-Salt Spring km/h restraint. Nevertheless cars far outnumber pedestrians in this suburban Victoria riding bordering Saanich North. That’s despite this being a highly walkable neighbourhood with lots of convenient shops and services. There’s even, by Canadian standards, reasonably good bus service. This very affluent turf constitutes the domain of B.C. Green leader Andrew Weaver. Once again, vehicle-dependency seems to be taken for granted.

Like some of his party’s Salt Spring supporters, Weaver is said to tool around in an electric car. Maybe, like most politicians, he also takes token transit trips for political bragging rights. Of course the pyramid of CO2-reducing moral superiority builds from a car-dependent base to greater heights by ditching fossil-fuel engines for EVs, ditching EVs for transit, and ditching transit for walking or cycling. But the very apex of GHG-avoidance, according to one recent study, would be ditching parenthood. It turns out that babies—little scoundrels that they are—put other Big Oil lackeys to shame with their GHG profligacy.

That would seem to take the low-birthrate Western world off the hook, placing almost the entire climate-change blame on emerging societies. But the B.C. Greens’ push for free childcare and payments to stay-at-home parents seems irresponsibly averse to the big issue of our time.

 

Two bucks gets you a B.C. Transit ride all the way from the small Vancouver Island city of Duncan to Lake Cowichan. This weekend wayfarer took the trip on Canada Day, as one of only two passengers throughout the 29-kilometre, 45-minute trip traversing much of Green MLA Sonia Furstenau’s Cowichan Valley riding. The bus careens down Cowichan Lake Road, roughly parallel to much-busier Highway 18 and presumably the route that walkers and cyclists would take.

Would take. If there were any. There pretty much weren’t.

Big vehicles, mostly pickup trucks, dominate the town of Lake Cowichan. How can this Green valley reconcile this anti-Green lifestyle? Not easily. Still, even more than in Oak Bay, traffic moves slowly, at a relaxed rate that the average Salt Spring Green might achieve only with a heavy dose of environmentally correct Ativan. Downtown Lake Cow’s quite the experience actually, like witnessing a monster truck extravaganza in slow motion and with the volume turned way down.

Residential development sprawls about 15 klicks northwest to the former mill town of Youbou, now home to some fairly recently built large homes for fairly affluent people. Walking seems limited to very short distances to or from a vehicle. The one cyclist I saw looked as conspicuous as the magnificent elk ambling by.

Leave Furstenau’s constituency past Youbou and the road suddenly changes into a rough-hewn dust-cloud topsy-turvy gravel route with potholes big enough to swallow Elon Musk’s next Great Big Idea. For those residents who might drive EVs, that pretty much limits their egress to the road back to Duncan.

So, if the typically Canadian vehicle-based lifestyle of B.C.’s Green ridings seems to contradict Green values, what drives—oops, shoulda said “inspires”—their ballot box choice? Did voters not consider their own reliance on vehicles and all the resources used to manufacture, maintain and fuel them? Or did voters just want to send a message to B.C.’s two cynicism-inducing establishment parties? That would be a reassuring thought, one that might restore a smidgeon of faith in our troubled species.

Nevertheless, these ridings make nice places to visit. Parts of them have bus service too, but you’ll have to check out the schedules for yourself. Not likely you’ll find many locals who use transit.

Commerce Resources signs MOU for tantalum-niobium processing

July 11th, 2017

by Greg Klein | July 11, 2017

While focused on its Ashram rare earths deposit in Quebec, Commerce Resources TSXV:CCE has plans for its other critical minerals project. Under a memorandum of understanding announced July 11, a one-tonne sample from the company’s Upper Fir tantalum-niobium deposit in British Columbia would be tested for suitability under a proprietary separation process developed in Estonia by Alexander Krupin.

Commerce Resources signs MOU for tantalum-niobium processing

Previous drilling has established a resource estimate for two
critical minerals on Commerce Resources’ Upper Fir deposit.

The sample should arrive within the next several weeks, with tests expected to begin immediately afterward. The goal would be to process Upper Fir feed stock into independent tantalum and niobium products.

Krupin’s background includes over 35 years in this area, including more than 15 years processing high-grade tantalum and niobium ore concentrates, Commerce stated. “His research activities have developed new technologies for the chemical upgrading of low-grade tantalum and niobium ore concentrates.”

Based on a tantalum price of $381 a kilo, Upper Fir has a 2013 resource showing:

  • indicated: 48.41 million tonnes averaging 197 ppm Ta2O5 and 1,610 ppm Nb2O5 for 9,560 tonnes Ta2O5 and 77,810 tonnes Nb2O5

  • inferred: 5.4 million tonnes averaging 191 ppm Ta2O5 and 1,760 ppm Nb2O5 for 1,000 tonnes Ta2O5 and 9,600 tonnes Nb2O5

The road-accessible east-central B.C. project has transmission lines and CN Rail crossing the western part of the 105,373-hectare property, and a 20-MW run-of-river electricity facility situated adjacently.

Commerce has found niobium in Quebec too, where samples showed very high grades up to 5.9% Nb2O5 on the company’s property about a kilometre from Ashram. Nevertheless the advanced-stage rare earths deposit remains the company’s priority, as it advances towards pre-feasibility. Among Ashram’s features are high grades, an impressive distribution of magnet feed elements and, crucial to the REE space, relatively simple mineralogy amenable to commercial processing. The deposit shows potential for a fluorspar byproduct as well.

Last month Commerce signed an MOU with Ucore Rare Metals TSXV:UCU to assess the suitability of Ashram concentrate for a proprietary method of REE processing at a plant Ucore plans to build in Utah. A Colorado pilot plant has already produced an Ashram concentrate exceeding 45% rare earth oxides at about 75% recovery.

The U.S. Geological Survey lists tantalum, niobium and rare earths among the critical minerals that the United States depends entirely on imports.

Read more about Commerce Resources’ Ashram rare earths deposit.

92 Resources president/CEO Adrian Lamoureux comments on potential markets for the company’s eastern B.C. frac sand project

July 6th, 2017

…Read more

Three in a row as another hole hits visible gold for Mountain Boy Minerals

July 5th, 2017

by Greg Klein | July 5, 2017

The first three holes testing the Montrose zone of Mountain Boy Minerals’ (TSXV:MTB) Red Cliff project have all revealed yellow-tinged core. With assays still to come, the company announced visible gold in galena-sphalerite stringers at depths lower than expected, showing up at core lengths of 163 metres, 227 metres and 229 metres in a wide mineralized intrusive. Two weeks earlier Mountain Boy reported similar results for the second hole of the Phase I underground program in northwestern British Columbia’s Golden Triangle.

Three in a row as another hole hits visible gold for Mountain Boy Minerals

While assays are pending, the core looks
pleasing to Mountain Boy Minerals.

Another three holes have been completed on the property’s Red Cliff zone, about 900 metres south of Montrose. Findings so far indicate a mineralized zone five to six metres wide with strong chalcopyrite-pyrite within quartz veins and silicified intrusive, Mountain Boy stated.

Mountain Boy has a 35% interest in the joint venture, while Decade Resources TSXV:DEC holds the rest. Adjacently north, Decade works towards a 100% interest on the Silver Crown 6 claim. North of Silver Crown 6, Mountain Boy holds a 100% interest in the MB property, with historic, non-43-101 polymetallic estimates. Decade’s 100%-held Red Cliff Extension claim sits along the east side of Silver Crown 6.

Mountain Boy’s other Golden Triangle interests include a 20% stake in Silver Coin, with a 2011 gold-silver-zinc resource; 100% options on the Surprise Creek base metal-silver-barite project and BA silver-lead-zinc project; a 50% stake in the George property, with non-43-101 copper-silver-gold estimates; the American Creek and Bear Valley silver-base metals projects; as well as copper-gold claims. In southern B.C., meanwhile, the company’s Manuel Creek zeolite project has PEA studies slated to begin.

Read Isabel Belger’s interview with Mountain Boy Minerals chairperson René Bernard.

See an infographic about B.C.’s Golden Triangle.