Friday 24th November 2017

Resource Clips


Posts tagged ‘Rambler Metals and Mining plc (RAB)’

High-grade copper samples precede fall drilling at Kapuskasing Gold’s Newfoundland project

October 13th, 2017

by Greg Klein | October 13, 2017

A property with over a century of mining and exploration history has modern drilling about to begin as Kapuskasing Gold TSXV:KAP readies a rig for the Lady Pond project in Newfoundland. Heightening the company’s anticipation are recent grab samples showing cobalt, silver and high-grade copper.

High-grade copper samples precede fall drilling at Kapuskasing Gold’s Newfoundland project

Surface geology at Lady Pond’s Sterling prospect buoys
optimism in Kapuskasing’s upcoming drill campaign.

Two grab samples reported for Sterling, one of the 2,450-hectare property’s three known prospective areas, showed 2.75% copper and 7.19% copper. A Twin Pond grab sample returned 9.03% copper, while another from the Lady Pond prospect assayed 0.089% cobalt, 1.54% copper and 9.4 g/t silver.

With a drill permit now in hand, Kapuskasing has about 1,000 metres planned to confirm historic reports of copper and begin work on a 43-101 resource for the three prospects. All three have undergone extensive drilling in the past, with impressive, albeit historic, non-43-101, reports of copper. Sterling hosts an historic, non-43-101 estimate of approximately one million tonnes averaging 1% copper that remains open in all directions.

Adjacent to the northern Newfoundland town of Springdale, the Lady Pond property sits 94 kilometres by road from a Rambler Mining and Metals TSXV:RAB base metals mill. Rambler holds two historic, non-43-101 copper deposits contiguous to Lady Pond.

On the province’s Great Northern Peninsula, Kapuskasing closed its acquisition of the 1,050-hectare Daniel’s Harbour project last month. A former mine that produced around seven million tonnes averaging 7.8% zinc between 1975 and 1990, the property is considered prospective for additional Mississippi Valley-type zinc deposits.

The company’s portfolio also includes the King’s Court copper-cobalt property just south of the Great Northern Peninsula.

In August Kapuskasing closed private placements totalling $215,000, which followed a June private placement of $201,200.

Read Isabel Belger’s interview with Kapuskasing Gold president/CEO Jon Armes.

Kapuskasing expands Newfoundland copper project, plans September drilling

August 23rd, 2017

by Greg Klein | August 23, 2017

Announced in May as an LOI but now ratified, Kapuskasing Gold’s (TSXV:KAP) 100% option adds the Sterling property and its former mines to the company’s Lady Pond project near the north coast of Newfoundland. The 700-hectare addition brings Lady Pond to 2,450 hectares with exploration and mining dating to the late 19th century. The standouts include the former Sterling mine, the Twin Pond prospect about 1.5 kilometres northeast and, three more kilometres northeast, the Lady Pond past-producer.

Sterling comes with an historic, non-43-101 1960s estimate of a million tonnes averaging 1% copper that’s open in all directions. Some historic, non-43-101 intercepts showed:

  • 5.5% copper over 4.42 metres, starting at 38.1 metres in downhole depth
Kapuskasing expands Newfoundland copper project, plans September drilling

  • 2.32% over 6.1 metres, starting at 106.68 metres

  • 1.45% over 4.57 metres, starting at 50.29 metres

Of 32 holes sunk on Twin Pond, some historic, non-43-101 highlights showed:

  • 4.2% copper over 3.35 metres, starting at 82.3 metres

  • 2.16% over 3.05 metres, starting at 33.53 metres

  • 3.2% over 3.05 metres, starting at 70.14 metres

Again with the historic, non-43-101 caveat, a Lady Pond intercept assayed 2.61% copper over 8.1 metres, with no downhole depth provided.

Having finished a preliminary 3D model for Sterling and Twin Pond, Kapuskasing stated it found significant gaps in drilling between high-grade intersections. Further review of historic data will precede drilling planned to begin next month. The company also plans an induced polarization survey between Sterling and Twin Pond.

With logging road and ATV access, the Lady Pond project borders the town of Springdale. Rambler Mining and Metals TSXV:RAB operates a base metals mill at Baie Verte, 94 kilometres by road from Springdale. Rambler also holds the historic Little Deer and Whalesback copper deposits contiguously west of Lady Pond.

Subject to TSXV approval, Kapuskasing gets a 100% interest in Sterling for $25,000, 1.8 million shares and $250,000 in spending over four years. A 3% NSR applies, of which Kapuskasing may buy two-thirds for $2 million.

The property expansion reflects an acquisitive phase as Kapuskasing expands its Newfoundland and Labrador portfolio. In May the company signed an LOI on the former Daniel’s Harbour zinc mine on the island’s north. Lady Pond was one of eight April acquisitions, with other properties showing potential for copper, cobalt and vanadium. Daniel’s Harbour and Lady Pond comprise the portfolio’s dual flagships.

Read Isabel Belger’s interview with Kapuskasing Gold president/CEO Jon Armes.

Newfoundland newly found

June 26th, 2017

Jon Armes of Kapuskasing Gold talks with Isabel Belger about zinc, copper and cobalt

 

Jon Armes of Kapuskasing Gold talks with Isabel Belger about zinc, copper and cobalt

Isabel Belger

Isabel: I would like to introduce Jon Armes, the president and CEO of Kapuskasing Gold TSXV:KAP. Jon, good to see you again. Tell us something about your background to start with.

Jon: Hi Isabel, good to see you too. I started in the mineral exploration business back in 1993 as an investor relations consultant. I spent the better part of 10 years working for various companies exploring for gold and precious metals as well as base metals and diamonds.

In the mid-2000s I ended up working in the field alongside a couple of different geologists and spent time managing drill programs, splitting drill core, prospecting and assisting in the staking of claims. I also helped structure some companies—bringing project opportunities and public companies together.

In 2010 I was given the opportunity to run a junior exploration company called Lakeland Resources. That company merged with Alpha Exploration in late 2015 and became ALX Uranium [TSXV:AL]. I remained as president until October of 2016 after concluding a transaction with Denison [TSX:DML] on behalf of ALX.

I was appointed president of Kapuskasing Gold in February of 2016. We carried out some drilling last summer on a gold project in Timmins, Ontario, but unfortunately did not intersect anything of significance in that campaign. Since that time I have been looking for the right opportunity or opportunities to bring in to the Kapuskasing property portfolio. The Newfoundland property package seemed like the right fit, and since then we have done some consolidating to the original acquisitions announced on March 1, 2017, and then more recently added the Daniel’s Harbour zinc property to the property portfolio. The copper-cobalt projects are the Lady Pond property and the King’s Court property. The lack of systematic testing for cobalt gave rise to these properties being so interesting because, the few times cobalt was tested for, there were several anomalous values. I particularly like the short- and longer-term outlook for both copper and zinc, and these copper-cobalt projects also provide a polymetallic exposure that includes cobalt, gold and silver.

Isabel: Congratulations on your recent zinc property acquisition in Newfoundland, the Daniel’s Harbour property. What intrigued you about this project?

Jon Armes of Kapuskasing Gold talks with Isabel Belger about zinc, copper and cobalt

With breathtaking geography and bountiful geology, the Rock
and neighbouring Labrador hold potential for Kapuskasing.

Jon: The opportunity to acquire a project that was a past-producer is always an interesting one. There is an old saying in the mining business that the best place to look for a mine or a deposit is in the “shadow of a headframe.” The Mississippi Valley-type nature of these zinc deposits is also intriguing because of the difficulty in finding them. Typically they are found in an outcrop as was the case for the majority of the lenses that were mined out between 1975 and 1990. I am of the belief that there is an opportunity to find more of these lenses within the boundary of the current Daniel’s Harbour zinc property. The fact that Altius [TSX:ALS] has acquired a significant land position within the immediate area of this project only helps to reaffirm my belief. We will do some compilation of the historic work and more recent exploration on the property and incorporate some out-of-the-box thinking on how to employ some geophysics that have either not been used before or perhaps some re-interpretation. Another aspect could be a ground prospecting program that may identify an outcrop or showing on the property that has yet to be found.

Isabel: What are your exploration plans for the coming months?

Jon: Kapuskasing is currently undertaking a small financing to assist in getting things going both on the Daniel’s Harbour property and the Lady Pond copper-cobalt project. As mentioned, the first things for Daniel’s Harbour would be some data compilation and to identify some geophysical techniques to help identify some drill targets.

The Lady Pond copper-cobalt property has a drill-ready target area called the Twin Pond prospect, recently acquired to complete the consolidation of the original Lady Pond property package. We have also staked several claims to cover additional historic showings of copper-cobalt-gold and silver. The Twin Pond prospect has a non-43-101 resource of approximately one million tonnes grading 1% copper, and looks to be open in all directions. [We hope to increase this resource] with a properly designed drill program—ideally in the coming months with the right funding and availability of service companies to carry out the work.

In the immediate area of Lady Pond, there are several past-producing mines and undeveloped prospects that could turn into economic deposits…. Rambler Metals [TSXV:RAB] has several projects and properties in this area, including the Little Deer project contiguous to our Lady Pond property. There is potential with the right combination of funding and exploration success for Kapuskasing to find more than one of these deposits within the Lady Pond property, having had a good start with the Twin Pond prospect.

Isabel: How much of Kapuskasing is held by the management?

Jon: Currently insiders and parties close to the company own approximately 20% of the issued and outstanding shares. Typically the insiders participate in the financings, as will be the case in this one. We are currently looking to raise up to $750,000 in a combination of flow-through and common shares. We hope to close a first tranche financing in the coming weeks to begin deploying exploration capital.

Isabel: What is your favourite commodity besides the ones in your company?

Kapuskasing will be in a great position to take advantage of not just one but several commodity price spikes, the first of which I think will be in both copper and zinc. —Jon Armes

Jon: I do like both copper and zinc, as evidenced by the recent acquisitions. The battery technology metals are also interesting—with cobalt and lithium leading the latest charge. People forget that electricity needs copper. Wires transport the electricity from batteries and generators to the tool or outlet. I consider copper to be the most important metal for the energy metal sector. We have cobalt as a possible byproduct of the two main polymetallic projects in the Lady Pond and King’s Court projects, along with gold, silver and zinc. Kapuskasing will be in a great position to take advantage of not just one but several commodity price spikes, the first of which I think will be in both copper and zinc.

Isabel: What do you like most about your job?

Jon: I like the multifaceted aspects of running a junior exploration program; there never seems to be a dull moment. I get to meet a lot of different people in the mining and finance industry, the prospectors that generate the project ideas, and the service people that ultimately carry out the exploration of the projects with our team of geologists and technicians. The most exciting times are when we are actually carrying out a drill program. It is drilling that ultimately leads to discovery.

Isabel: That is right. Good talking to you Jon, and good luck with the drill program.

Jon: Thank you.

 

Jon Armes of Kapuskasing Gold talks with Isabel Belger about zinc, copper and cobalt

Jon Armes
president/CEO of
Kapuskasing Gold

Bio

Jonathan Armes, also known as Jon, has been the CEO and president of Kapuskasing Gold since February 9, 2016, and a director since October 8, 2014. Jon Armes has been a consultant of ALX Uranium since October 2016. Jon Armes served as the president/CEO of ALX Uranium (formerly, Lakeland Resources) from August 12, 2010, until October 2016. He has provided corporate development and investor relations services to mining exploration companies for over 15 years including Band-Ore Resources (which became part of Lake Shore Gold, which in turn joined Tahoe Resources TSX:THO) and Trelawney Mining and Exploration, an IAMGOLD TSX:IMG takeover. He graduated from the University of Guelph in 1993 with a Bachelor of Applied Science degree.

Fun facts

My hobbies: Fishing, hockey and music
Sources of news I use: News apps on my phone
My favourite airport: Vancouver
My favourite commodities: Copper, gold, zinc, cobalt
My favourite tradeshow: PDAC
With this person I would like to have dinner: Warren Buffet (talking about philanthropy, investing and life)
If I could have a superpower, it would be: Seeing into the future


Read more about Kapuskasing Gold.

Rambler reports Newfoundland Gold Assays up to 39.8 g/t over 29.8m

April 13th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningRambler Metals and Mining plc TSXV:RAB announced assays from its Ming Copper-Gold Mine in the Baie Verte Peninsula, Newfoundland. Results (uncut) include

39.8 g/t gold over 29.8 metres
4.35 g/t over 18.4 metres
18.04 g/t over 5.5 metres
7.45 g/t over 5.6 metres
49.69 g/t over 4.5 metres
7.82 g/t over 6.1 metres

Rambler Metals also announced that a total of 9,714 ounces gold have been poured at the mine to date.

President/CEO George Ogilvie said, “The early gold production from the 1806 zone has been successful; while the recent exploration drilling in new areas of the 1806 zone has also returned some very encouraging grades. While there is currently 16,000 tonnes of 1806 gold ore remaining to be processed the recent exploration drilling results have outlined additional stoping blocks for future mining. Based on our projections gold processing should be completed by mid-May whereupon the company will begin running low-grade copper ore through the concentrator as part of the start-up and commissioning process. Once the process has been optimized high-grade copper ore from the 1807 zone will be fed through the mill. Fiscal 2013 will be an important year for the company as we aim to place the company on a strong financial footing by executing our Phase I high-grade low-tonnage mine plan with a mind to continuing to identify opportunities for optimization and possible expansion beyond 2014.”

View Company Profile

Contact:
George Ogilvie
President/CEO
709.800.1929

by Ted Niles