Tuesday 19th March 2019

Resource Clips


Posts tagged ‘silver’

Out crops opportunity

October 31st, 2018

Outcrops, pegmatites and spodumene mean lithium and tantalum for 92 Resources

by Greg Klein

Outcrops, pegmatites and spodumene mean lithium for 92 Resources

92 Resources’ James Bay-region Corvette property features
drill-ready targets as well as 15 kilometres of potential strike to evaluate.

 

An early-stage but steadily advancing project shows 92 Resources TSXV:NTY focusing firmly on northern Quebec’s lithium. Successful field work so far has inspired two large property expansions, one in a deal with Osisko Mining TSX:OSK. Now with about 15 kilometres of potential strike length in one package, 92 hopes to prove up grade and tonnage to bring its Corvette property to an advanced level.

A series of outcrops reveals lithium along with tantalum occurring in spodumene-bearing pegmatite over at least two sub-parallel structures, explains Darren Smith. “We have drill-ready targets as well as lots of highly prospective ground to explore.” Having worked with the company for about two years through Dahrouge Geological Consulting and been a 92 advisory board member since July, he’s obviously enthusiastic about the project.

Outcrops, pegmatites and spodumene mean lithium for 92 Resources

Surface showings have 92 Resources
optimistic about Corvette’s deeper potential.

And as a resident of Quebec City, he likes the jurisdiction too. “Quebec offers a lot of provincial support for mining,” Smith points out. “Also our Quebec projects fall within the James Bay Northern Quebec Agreement, which has structures in place for First Nations engagement and resource management.”

Corvette marked a change of direction for the company, after 92 optioned its Hidden Lake lithium property in the Northwest Territories to Far Resources CSE:FAT last January. Despite that project’s favourable sampling and metallurgical results, 92 saw even greater potential in its Quebec acquisitions. The theory found support from subsequent channel sampling grades and widths.

In September 92 released assays from 40 channel samples taken on the property’s CV1 pegmatite that averaged 1.35% Li2O. Tantalum showed up too, grading an average 109 ppm Ta2O5. Some highlights revealed:

  • 2.28% Li2O and 471 ppm Ta2O5 over 6 metres

  • 1.54% Li2O and 136 ppm Ta2O5 over 8 metres

  • 1.77% Li2O and 54 ppm Ta2O5 over 6 metres

  • 1.36% Li2O and 128 ppm Ta2O5 over 11 metres

  • 1.2% Li2O and 128 ppm Ta2O5 over 4 metres

  • 1.02% Li2O and 95 ppm Ta2O5 over 11 metres

About 50 metres north, the CV2 pegmatite showed:

  • 0.73% Li2O and 140 ppm Ta2O5 over 4 metres

  • 0.55% Li2O and 136 ppm Ta2O5 over 4 metres

True widths weren’t known.

Another promising development was the discovery of two more spodumene-bearing pegmatites. A grab sample grading 1.61% Li2O came from CV3, about 250 metres south of CV1. A 0.74% grab sample marked CV4, about three kilometres northeast and along strike of CV1.

Outcrops, pegmatites and spodumene mean lithium for 92 Resources

Corvette outcrops can host a helicopter
as well as spodumene-bearing pegmatite.

“We’re looking for tonnage and grade, and the grade has been demonstrated to be quite favourable,” Smith says. “The program added more tonnage potential through the CV3 and CV4 pegmatites, which show there might be multiple parallel structures. Because we have large occurrences over a three-kilometre strike length, it is inferred that it could be decent depth and that’s how to build tonnage. So now we have a structure over three kilometres along strike with mineralized spodumene-bearing pegmatite at either end. This is very positive because pegmatites tend to occur in swarms and congregations.”

The potential strike could be much greater yet, thanks to recent property expansions. In August the company staked another 4,918 hectares, more than doubling Corvette’s size. The following month 92 announced a 75% earn-in on Osisko’s neighbouring FCI claims, adding 14,034 hectares to the project and putting a potential strike of 15 kilometres into one package.

“Satellite imagery suggests favourable-looking outcrops there as well, so we’re pretty excited about that. We now have a lot of strike length that remains to be evaluated on the joint venture with Osisko, as well as drill-ready targets on the CV1 and 2 pegmatites.”

With a $250,000 work commitment for year one, FCI might take precedence over CV1 and 2. Plans will be determined shortly by a committee made up of two reps from each company. Osisko will act as operator on FCI in accordance with a previous ownership agreement.

Outcrops, pegmatites and spodumene mean lithium for 92 Resources

An earn-in with Osisko Mining
expands Corvette’s size and potential.

Gold and base metals possibilities also merit attention. An earlier grab sample from FCI reported by Virginia Mines brought historic, non-43-101 results of 38.1 g/t gold, while another graded 0.3 g/t gold, 150 g/t silver, 1.89% copper, 11.15% lead and 1.45% zinc.

Interestingly, that was the report that tipped off 92 about Corvette’s lithium potential. Not focused on the energy metal, Virginia just briefly noted the presence of pegmatite. Intrigued, 92 made an initial one-day visit in October 2017 “and saw massive spodumene sparkling on this big outcrop,” remembers Smith. Grab samples revealed 0.8%, 3.48% and 7.32% Li2O from the then-unnamed CV1 pegmatite and 1.22% from CV2, which also returned 90 ppm Ta2O5.

Currently helicopter-accessible, the exploration area sits about 15 kilometres south of the all-season Trans-Taiga Road and transmission line.

92’s also been busy with lithium-bearing pegmatite on its Pontax project, roughly 260 crow-flying kilometres southwest of Corvette. A week of work curtailed by last summer’s forest fires brought one grab sample grading 0.94% Li2O and 520 ppm Ta2O5, while another taken 600 metres away showed 0.72% Li2O and 87 ppm Ta2O5. A third sample taken another 1.3 kilometres along strike assayed 631 ppm Ta2O5 and an anomalous 0.02% Li2O.

“The samples come from an area of large outcrops that likely connect. The samples are random and separated by a decent distance, so they’re probably representative,” says Smith. “It’s a very good secondary project that complements Corvette.”

The company holds two other James Bay-region properties hosting pegmatite, Eastmain and Lac du Beryl. Looking at an entirely different energy-related commodity, 92 filed a 43-101 technical report for the Golden frac sand project in southern British Columbia last April. Located adjacent to the Moberly silica mine where Northern Silica restarted operations last year, Golden “hits the criteria for grade, rail and other infrastructure, proximity to markets and commodity demand,” says Smith.

As for Corvette, “I think it has enormous potential. It has a lot of tonnage potential, it’s in a new area, the geology works and the next program could really make the difference. So it’s positioned with a maximum amount of upside. The Osisko deal is very positive too and they’re a good partner to have, so I think 92 is well-positioned to really maximize the value of this asset.”

Geoscience BC maps Greenwood’s mineral potential

September 28th, 2018

by Greg Klein | September 28, 2018

An historic British Columbia mining camp comes under additional scrutiny with new research released September 28. Geoscience BC’s latest report and 1:50,000-scale map focus on the province’s south-central Greenwood district, about 500 kilometres east of Vancouver.

Mining on the 800-square-kilometre area dates back to the late 1880s. Some 26 past-producers have given up more than 1.2 million ounces of gold and over 270,000 tonnes of copper, along with silver, lead and zinc, according to the independent non-profit organization. With a number of juniors currently working to find more mineralization, this research “should bolster the recent revival of mineral exploration activity in the Greenwood area,” said Geoscience BC VP of minerals and mining Bruce Madu.

Geoscience BC maps Greenwood’s mineral potential

Mining may one day return to the once-busy Greenwood camp.
(Photo: Geoscience BC)

Among the active companies is Grizzly Discoveries TSXV:GZD, which holds about 72,840 hectares of Greenwood turf. Under a 75% earn-in, Kinross Gold TSX:K has been drilling for gold in the Midway area of Grizzly’s holdings. Grizzly has been conducting geophysics and surface exploration on its Robocop cobalt-copper-silver claims and plans drilling for three other Greenwood targets.

Just across the international border, Kinross operated the Kettle River-Buckhorn gold mine until last year, extracting 1.3 million ounces over nine years.

Another of Greenwood’s large landholders is Golden Dawn Minerals TSXV:GOM, which attributes 31 historic mines to its 15,400-hectare portfolio.

The Greenwood report might help illuminate other parts of B.C. as well. “This area could hold the key to a better understanding of mineral deposits that formed during key geological events that span almost 200 million years,” Madu added.

Working with First Nations, local communities, governments, academia and the resource sector, Geoscience BC opens its research to the public “with the aim of encouraging exploration, economic activity and informed land use decisions.” Most funding comes from the provincial government.

The organization’s other mapping projects in the area include:

See Geoscience BC’s Earth Science Viewer.

Saville Resources mobilizes for niobium-tantalum field work in northern Quebec

September 25th, 2018

by Greg Klein | September 25, 2018

Encouraging assays and heightening concern for critical minerals bring an exploration team back to Saville Resources’ (TSXV:SRE) Niobium claim group in Quebec’s Labrador Trough region. The program follows earlier drilling as well as more recent niobium-tantalum boulder samples that reached as high as 4.3% Nb2O5 and 700 ppm Ta2O5. With work carried out by Dahrouge Geological Consulting, the autumn agenda calls for prospecting and ground geophysics to identify future drill targets.

Saville Resources mobilizes for niobium-tantalum field work in northern Quebec

A view from a ridge on Saville Resources’ Niobium claim
group, now progressing towards an updated geological model.

The 1,223-hectare project sits on the Eldor property which also hosts Commerce Resources’ (TSXV:CCE) Ashram rare earths deposit, now moving towards pre-feasibility. Under an agreement with Commerce, Saville may earn 75% of the Niobium claim group. The company has two weeks planned for the current campaign.

A 43-101 technical report filed earlier this month “concludes there is a ‘strong potential for carbonatite-hosted niobium-tantalum deposit(s) of significance’,” noted president Mike Hodge. “Discoveries start with boots on the ground and we look forward to following this work up with an aggressive and targeted drill campaign to further unlock this potential.”

Among places slated for ground magnetics is the Southeast area, where mineralization is often associated with magnetite. Prospecting will focus on relatively untouched areas but also the vicinity of drill programs dating to 2008 and 2010. Hole EC10-033 returned 0.72% Nb2O5 and 145 ppm Ta2O5 over 21.35 metres, starting just below overburden at 4.22 metres’ depth. The same hole also delivered 0.82% Nb2O5 over 21.89 metres starting at 58.9 metres.

The shallow intersections “indicate that strong mineralization extends to surface in the immediate area,” the company stated. “In terms of ground follow-up, there is a sizable corridor to the south of EC10-033 that has not been traversed and is therefore a high-priority area for assessment.”

Results from the program will help update the Southeast area’s geological model, which currently dates to 2010 despite an improved understanding of the Eldor complex. A partial photo re-log of the core, a revised rock classification scheme, geophysical results and other data will delineate future drill targets.

Reporting from Quebec’s James Bay region last month, Saville announced a new zinc-silver-nickel zone at surface on the company’s Covette property. Sampling took place along an area hosting strong magnetic anomalies and several EM conductors, with one sample grading 1.2% zinc and 68.7 g/t silver, and three others ranging from 0.13% to 0.19% nickel.

Also last month Saville closed an $877,700 first tranche of a private placement offered in July up to $2 million.

Read more about Saville Resources.

Visual Capitalist: Nine reasons mining investors are looking at Yukon companies

September 18th, 2018

by Jeff Desjardins | posted with permission of Visual Capitalist | September 18, 2018

In the mining industry, location is paramount.

Invest your capital in a jurisdiction that doesn’t respect that investment, or in a place with little geological potential, and it’s possible that it will end up going to waste.

That’s why, when there’s a place on the map that has world-class geology and also a plan for working with miners and new explorers, the money begins to flow to take advantage of that potential.

Why investors are looking at the Yukon

This infographic comes to us from the Yukon Mining Alliance and it shows nine reasons why people are investing in Yukon mining and exploration companies today.

 

Nine reasons mining investors are looking at Yukon companies

 

For resource investors, it is rare to see variables like government investment, jurisdiction, geological potential and investment from major mining companies all aligning.

However, in the Yukon, it seems this may be the case. Here are nine reasons the Yukon is starting to attract more investment capital:

1. Rich history
Mining was central to the Yukon even over a century ago, when over 100,000 fortune-seekers stampeded into the Yukon with the goal of striking it rich in the famous Klondike Gold Rush.

2. Geological profile
In the last decade, there have been major discoveries of gold, silver, copper, zinc and lead in the Yukon—but perhaps most interestingly, only 12% of the Yukon has been staked, making the region highly under-explored. Spending on exploration and development rose from $93 million to $158 million from 2015 to 2017.

3. Major investment
Major mining companies now have a stake in the polymetallic rush. Recent companies to foray into the Yukon include Agnico Eagle Mines TSX:AEM, Barrick Gold TSX:ABX, Coeur Mining NYSE:CDE, Goldcorp TSX:G, Kinross Gold TSX:K and Newmont Mining NYSE:NEM.

4. Leaders in exploration and mining
Juniors in the region are working on new geological ideas as well as new technology to unlock the vast potential of the region.

5. Progressive partnerships
First Nations and the government of Yukon have recently championed a new government-to-government relationship that enables them to be on the exact same page when it comes to mineral projects.

6. Government investment
The Yukon government is investing in new infrastructure via the Resource Gateway project. It also offers the Yukon Mineral Exploration Program, which provides a portion of risk capital to explore and develop mineral projects to an advanced stage.

7. Made in Yukon process
The Yukon government also tries to foster regulatory certainty to create clarity for companies and investors through its customized tri-party process.

8. Infrastructure
The jurisdiction has 5,000 kilometres of government-maintained roads, receives 95% of power from clean hydro, has international and local airports, and has access to three deep-water, ice-free ports.

9. Geopolitical stability
Canada offers geopolitical stability to start with—but with unprecedented cooperation between the territorial government and First Nations, the Yukon is arguably a step above the rest of the country.

Posted with permission of Visual Capitalist.

The Royal Canadian Mint makes history to commemorate history

September 4th, 2018

by Greg Klein | September 4, 2018

Impractical but legal tender just the same, the Royal Canadian Mint’s latest batch of coins features, not for the first time, a world first. This one’s an oval- and concave-shaped one-kilo 99.99% silver coin. Using innovative techniques to portray a traditional theme, it shows a boatload of voyageurs having “just cleared a treacherous cascade, their canoe almost launching itself from this incredibly sculpted and immersive design.”

Royal Canadian Mint makes history to commemorate history

The oval shape “beautifully frames the design while its concave shape heightens the sense of perspective,” the Mint enthused. “The ultra-high relief delivers incredible depth and dimension which are further enhanced by the coin’s antique finish.” The result “showcases incredible artistry and the Mint’s technical prowess that has made it a global leader for over a century.”

Although hardly the Mint’s largest coin, this one sells for 10 times its face value of $250. Just 400 copies have been struck.

This certainly isn’t the first time voyageurs have canoed a course across Canadian coins. A pair of paddlers predominated on silver dollars in circulation between 1935 and 1986. The same duo would have reappeared in 1987, when Canada struck a new coin to replace $1 notes, had the dies not gone missing on their way to the Mint’s coin-casting facility. As a result, Canada got stuck with the loonie, a less inspiring but arguably more representative image of our contemporary society.

Royal Canadian Mint makes history to commemorate history

Something of an anomaly among the Canadian-themed releases announced September 4 was Superman: The Last Son of Krypton. Justified by the fifth anniversary of the hero’s Canadian numismatic debut, the fame of Canadian comic book artist Jason Fabok and maybe also the man of steel’s Canadian co-creator, Joe Shuster, the $100 10-ounce silver coin actually serves as a base for a gold-plated statue. It sells for $1,199.95.

Presenting an icon more commonly associated with Canada and the North, another coin/statue shows a whale tail extending from the surface as a humpback takes a deep dive. With each hand-carved soapstone sculpture unique, the five-ounce $50 silver coin costs $549.95.

Another arctic scene employs another Mint innovation, that of dimensional paint. This shows a polar bear cub cautiously approaching the water while its mother and sibling swim below surface, who are seen as if “looking through water.” The 62-gram $30 silver piece sells for $199.95.

Royal Canadian Mint makes history to commemorate history

Among several other issues available this month, the Mint celebrates the 30th anniversary of its platinum coin, “still recognized as one of the purest in the world, a sought-after piece whose maple leaf is the unmistakable symbol of outstanding Canadian craftsmanship.” The four-piece set goes for $4,999.95.

As a maker of numismatic history itself, the Mint commemorates a little-known aspect of historic Canadian currency with its Playing Cards of New France release. Due to a shortage of coins in 1685, playing cards with handwritten notations served as currency. Although intended as a temporary measure, “card money was re-issued and circulated like modern-day banknotes until 1759,” the Mint reveals.

In recognition of the practice, four 1.5-ounce silver pieces with narrow rectangular proportions represent the king of each suit. With a face value of $25 each, the set costs $649.95 and comes with a complete deck of paper cards.

Royal Canadian Mint makes history to commemorate history

Read more about the Royal Canadian Mint.

Saville Resources discovers new zinc-silver-nickel zone at surface in Quebec

August 8th, 2018

by Greg Klein | August 8, 2018

A property with limited exploration but encouraging geophysics shows further promise following a recent field program. Of eight surface samples collected by Saville Resources TSXV:SRE on its 3,370-hectare Covette project in Quebec’s James Bay region, one returned 1.2% zinc and 68.7 g/t silver, while three others assayed between 0.13% and 0.19% nickel.

Saville Resources discovers new zinc-silver-nickel zone at surface in Quebec

Saville Resources now plans trenching and channel
sampling to follow Covette’s grab sample assays.

Sampling took place along a visible strike of about 200 metres directly above an area of high conductivity found by a 2016 VTEM program that spotted several EM conductors coinciding with strong magnetic anomalies.

Underlying the region is a greenstone belt “comprised of various mafic to ultramafic rock units considered prospective for base and precious metals (nickel-copper-cobalt-platinum group elements-gold-silver), as well as pegmatite-hosted rare metals (lithium-tantalum),” Saville reported. “Komatiites have also been described in the region with such rock types known to host significant nickel-copper massive sulphide deposits at other localities globally, adding further to the prospective nature of the region.”

A sampling program in 2017 brought 0.18% nickel, 0.09% copper and 87 ppm cobalt. One historic, non-43-101 grab sample returned 4.7% molybdenum, 0.73% bismuth, 0.09% lead and 6 g/t silver. Another historic sample showed 1.2 g/t silver and 0.18% copper.

Further plans include follow-up trenching and channel sampling. Saville filed a 43-101 technical report on the property and closed its 100% acquisition in June.

Covette sits about 190 kilometres east of the town of Radisson and 10 kilometres north of the all-weather Trans-Taiga road and the adjacent hydro-electricity transmission line.

In another northern Quebec project, Saville has a 43-101 technical report underway for the Miranna claims situated on the Eldor property that hosts Commerce Resources’ (TSXV:CCE) advanced-stage Ashram rare earths deposit. Saville would acquire a 75% earn-in subject to exchange approval. In April the companies released niobium-tantalum boulder sample grades as high as 4.3% Nb2O5 and 700 ppm Ta2O5.

Last month Saville offered two private placements totalling up to $2 million.

Read more about Saville Resources.

More than just money

June 27th, 2018

The Royal Canadian Mint breaks the numismatic mould to cast creative coins

by Greg Klein

The Royal Canadian Mint breaks the numismatic mould to cast creative coins

Although often extending the bounds of traditional coinage, the Mint acknowledged its heritage
with a Colonial Currency of the Atlantic Provinces set that mimics the condition of used currency.
(All photos: Royal Canadian Mint)

 

Money’s appeal couldn’t be more obvious, yet coins specifically bring to mind values intrinsic, speculative or esthetic. By no means neglecting the first two, the Royal Canadian Mint has been emphasizing the third, and in ways increasingly innovative. Issuing over 200 such products each year, its “coins” have become more and more exotic. That shows in two recent releases, which can be said to source their materials from the end of the Earth and beyond.

“As a commercial Crown corporation, we don’t rely on any taxpayer funding to finance our operations,” explains communications officer Alex Reeves. “So we need to finance ourselves and that has led us to a number of competitive fields, collector coins being one, bullion being a big part of it as well, and foreign circulating coins also.”

Although this year’s Q1 results suggest more modest gains, the Mint reported a 2017 consolidated profit of $36.1 million, up from $24.5 million the previous year and buoyed partly by Canada 150 collectibles. Ottawa raked in $93.2 million in dividends last year.

While the Bank of Canada prints paper money, the Mint strikes currency coins for Canada as well as countries on every continent. Its bullion, especially the one-ounce Maple Leaf gold coin, is sought after by the world’s speculators and hoarders, as well as collectors.

But can the Mint’s increasingly creative collectibles still be considered coinage? Yes, according to Reeves. “They are coins by definition as legal tender, having a denomination and identifying country of origin,” he points out. That doesn’t mean they can’t be innovative.

“Collectors come to us from all over the world so innovation helps us stand out in a crowded marketplace. We use it to get people’s attention and increase the appeal of our products.”

The Royal Canadian Mint breaks the numismatic mould to cast creative coins

That’s illustrated in the two newest releases. Each commemorating a special date, one coin contains purely Nunavut-mined gold, the other a little chunk of meteorite.

The gold coin gets its yellow metal from TMAC Resources’ (TSX:TMR) Hope Bay and Agnico Eagle Mines’ (TSX:AEM) Meadowbank to present Andrew Qappik’s images of a walrus, ptarmigan, polar bear, bowhead whale and narwhal. In another innovation, the one-tenth-ounce piece has the same diameter as a quarter-ounce coin, providing a larger canvas for the Inuk artist’s work. Part of the Symbols of the North series, the coin anticipates Nunavut’s 20th anniversary next April.

“Our Inuit employees, suppliers and partners can all take great pride in knowing that they have participated in making this unique coin that celebrates their heritage and culture,” commented Agnico Eagle CEO Sean Boyd. With a face value of $20, the coin sells for $359 in a limited mintage of 1,500.

At a ceremony attended by former Canadian astronaut Dave Williams, the Mint used the Royal Astronomical Society of Canada’s 150th anniversary to unveil “a truly out-of-this-world collectible.” As if to make the one-ounce silver coin impractical for vending machines, a bit of rock from Campo del Cielo sticks out of the surface. The fragment fell to earth about 4,500 years ago when the Argentinian field underwent a meteorite bombardment.

The Royal Canadian Mint breaks the numismatic mould to cast creative coins

Using designs from Canadian artist Alexandra Lefort, the coin depicts the Eagle Nebula and its pillars of interstellar gas and dust along with the Moon, the Andromeda Galaxy and a blazing meteorite in addition to the genuine iron-enriched supplement.

Also with a $20 face value, 5,500 versions—each unique for the shape of its other-worldly content—went on the market for $149.95 each.

In April the Mint marked another extra-terrestrial event with an elliptical black-light-glowing piece portraying Manitoba’s 1967 Falcon Lake UFO sighting.

Last year’s glow-in-the-dark toonie was named Most Innovative Circulating Coin by the International Mint Directors Conference.

The Mint’s collectibles date back to a 1935 silver dollar commemorating King George V’s Silver Jubilee and portraying a voyageur paddling his canoe against a faint Northern Lights backdrop. “It gradually evolved to commemorative circulation coins, coin sets and then, with the advent of the Montreal Olympics, we started producing a higher volume of annual collector coins in silver and some in gold as well,” Reeves says. “We’ve continued to grow that part of our business.”

The Royal Canadian Mint breaks the numismatic mould to cast creative coins

Some other unusual creations this month included a six-ounce silver coin with a gold-plated miniature carousel that rotates with the help of a magnet. “Even the horses move up and down on this dazzling creation which is limited to a worldwide mintage of only 1,000,” states a promo.

But musical accompaniment, apparently, has thus far escaped the Mint’s R&D ingeniousness.

Still, last May Mint boffins announced one of their most complicated technical projects ever with a “coin” that’s half of a miniature Stanley Cup. “If you put two of them together, you would have an entire Stanley Cup replica, albeit a fraction of the size of the actual trophy,” the Mint quoted techie Michael Groves. He compared the project’s complexity to that of the Mint’s 100-kilo, million-dollar gold coin and the 2010 Vancouver Winter Olympics medals.

To keep the ideas flowing, the Mint maintains two R&D departments, one at the Winnipeg home of circulating coin production, the other in Ottawa, location of the head office, as well as bullion and collectible production.

“We do have a broad range of expertise in our staff and it’s something we take seriously and keep investing in,” Reeves says. “We see ourselves as industry leaders for innovation” with some examples including colouring processes and security features. “We’ve made security features on our bullion coins that can’t be found elsewhere, and we have a broad range of innovation on our collector products as well. It benefits the industry if you’re able to raise the bar, create something new and inspire others to look at their own ways of improving coin-making or coming up with something brand new.”

Whether others have been inspired to imitate the Mint’s ideas or steal them is a question currently before Australian courts. The Mint has demanded its Down Under counterpart turn over or destroy some $2 million worth of collectibles that allegedly appropriated a patented method of applying colour to metal. Australia responded with a counter-claim asking that Canada’s patent be declared invalid.

But high-tech expertise notwithstanding, Canada’s coin creator won’t be venturing into the world of cryptocurrencies, Reeves insists. “The Mint is a manufacturer of physical coins, of cash in other words, and for the foreseeable future we see cash continuing to play an important role in Canadian daily commerce. We’re going to continue innovating in that area in ways that increase the security and durability of our products.”

Update: The Canadian and Australian mints end their legal battle with a “collaborative cross-licensing agreement,” the National Post reports.

Learn more about the Royal Canadian Mint.

Royal Canadian Mint breaks the numismatic mould to cast creative coins

June 26th, 2018

This story has been expanded and moved here.

Saville Resources closes Quebec nickel-copper-cobalt acquisition, files 43-101, readies summer program

June 26th, 2018

by Greg Klein | June 26, 2018

An undrilled property with encouraging geophysical results will undergo a summer field program, now that Saville Resources TSXV:SRE has finalized its acquisition of the James Bay-region Covette project. A 1,402-line VTEM survey from 2016 outlined at least six areas of high conductivity on the 3,315-hectare property, with one zone extending southeast about 4.5 kilometres and another trending northeast. Those areas “need to be evaluated,” stated a 43-101 technical report filed this month.

Saville Resources closes Quebec nickel-copper-cobalt acquisition, files 43-101, readies summer program

A pegmatite ridge on Saville Resources’ Covette
project, which now has Phase I field work planned.

Sampling conducted last year showed 0.18% nickel, 0.09% copper and 87 ppm cobalt, but the field program wasn’t sufficient to explain the source of the VTEM anomalies, which may indicate a source at depth, the company stated.

An historic, non-43-101 sample assayed 4.7% molybdenum, 0.73% bismuth, 0.09% lead and 6 g/t silver. Another brought 1.2 g/t silver and 0.18% copper.

A Phase I field program recommended by the technical report would include detailed mapping and sampling in areas of high-conductivity, channel sampling and further geophysics. The project sits about 10 kilometres north of the all-weather Trans-Taiga road and adjacent transmission line.

Meanwhile work continues on another Quebec acquisition as Saville prepares a 43-101 technical report on the Miranna claims, located on the Eldor property that hosts Commerce Resources’ (TSXV:CCE) advanced-stage rare earths deposit. In April the companies reported assays as high as 4.3% Nb2O5 and 700 ppm Ta2O5, results in line with previous high grades. Subject to exchange approval, Saville would acquire a 75% earn-in on Miranna.

Read more about Saville Resources.

Pistol Bay Mining releases zinc-copper assays from Ontario, prepares for new drilling

June 13th, 2018

by Greg Klein | June 13, 2018

As a long-overdue modern exploration program continues on northwestern Ontario’s Confederation Lake, Pistol Bay Mining TSXV:PST released assays for an initial three-hole 1,555-metre program on the property’s Arrow zone. The results “confirm the consistent nature of mineralization in the Arrow zone and give us more confidence in the existing mineral resource estimate,” noted president/CEO Charles Desjardins. The assays show:

Hole GL18-01

  • 0.73% copper, 2.22% zinc, 12 g/t silver, 0.307 g/t gold and 0.03% lead for 4.34% zinc-equivalent over 10.9 metres, starting at 432.7 metres in downhole depth
  • (including 0.69% copper, 4.49% zinc, 22.2 g/t silver, 0.217 g/t gold and 0.1% lead for 6.65% zinc-equivalent over 2.9 metres)
  • (and including 1.16% copper, 1.48% zinc, 12.8 g/t silver, 0.64 g/t gold and 0.01% lead for 4.91% zinc-equivalent over 3 metres)
Pistol Bay Mining releases zinc-copper assays from Ontario, prepares for new drilling

Drilling will soon resume
at Confederation Lake’s
Fredart zone.

GL18-03

  • 0.13% copper, 1.13% zinc, 3.3 g/t silver, 0.044 g/t gold and 0.02% lead for 1.54% zinc-equivalent over 12.9 metres, starting at 563.1 metres
  • (including 0.2% copper, 1.93% zinc, 4.3 g/t silver, 0.083 g/t gold and 0.04% lead for 2.54% zinc-equivalent over 3.8 metres)
  • (which includes 0.11% copper, 2.69% zinc, 3.4 g/t silver, 0.04 g/t gold and 0.07% lead for 3.09% zinc-equivalent over 1.5 metres)
  • (and also includes 0.48% copper, 2.92% zinc, 8.5 g/t silver, 0.15 g/t gold and 0.05% lead for 4.28% zinc-equivalent over 1.3 metres)

True widths weren’t provided.

In early May the company released the program’s first hole, showing 5.15% zinc-equivalent over 12.85 metres.

Last year Pistol Bay filed a 43-101 resource for Arrow, with a base case 3% zinc-equivalent cutoff for an inferred category showing:

  • 2.1 million tonnes averaging 5.78% zinc, 0.72% copper,19.5 g/t silver and 0.6 g/t gold, for a zinc-equivalent grade of 8.42%

Contained amounts come to:

  • 274 million pounds zinc, 34.3 million pounds copper, 1.33 million ounces silver and 41,000 ounces gold

As the rig moves to the project’s Fredart copper-gold zone, the team keeps busy re-compiling all Arrow drill results and incorporating new surveys of collar locations and azimuths using differential GPS equipment, Pistol Bay stated.

Although Fredart underwent extensive drilling between 1965 and 1985, the zone lacks a 43-101 resource due to uncertainty about drill hole locations and the lack of previous core to confirm historic assays, the company added.

The drill campaign follows the 15,000-hectare property’s first survey by modern geophysics which, in another first for Confederation Lake, was conducted on a regional scale.

Read more about Pistol Bay Mining.