American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") continues to advance its British Columbia copper-gold porphyry project NAK. Charlie Greig who led the discovery of GT Gold's Saddle copper-gold deposit, is advising and executing American Eagle's exploration program at NAK. The Company is fully funded for NAK's 2022 exploration program and is awaiting its permit to begin drilling.
The planned drill program on NAK consists of 8 diamond drill holes totaling 4,500m targeting the newly identified geophysical feature within a well-understood copper-gold porphyry province. NAK's known copper-gold porphyry mineralization is open at depth, and the compelling deep geophysical signature is analogous to Newcrest's Red Chris Mine and Newmont's Tatogga project in northwest BC.
Interpretation of the historical geophysics data appears to delineate an underlying multi-phase porphyry source for the previously-drill-defined near-surface low-grade copper-gold mineralization. This interpreted porphyry is a potential source and host for a deeper high-grade orebody, which has never been drill-tested. The proposed 2022 drill program will test the top of the larger intrusive stock.
American Eagle is engaging with the local community stakeholders and working towards attaining a permit to begin drilling in the summer.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused on exploring its two properties, NAK and Golden Gate. NAK is in the Babine Copper-Gold Porphyry district in central British Columbia . Golden Gate is on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The Property is 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as the two deposit areas.
American Eagle's Vice President of Exploration, Mark Bradley , B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to exercise its option to acquire the Project as anticipated and whether the Company's exploration efforts on the Project produce the results that are anticipated by management. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com .
SOURCE American Eagle Gold Corporation
View original content: http://www.newswire.ca/en/releases/archive/May2022/02/c9196.html
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Nevada is home to the world’s most prolific gold-producing district and ranks the second-largest for known gold resources in the world. While many know the famous Carlin Trend, the state’s more mature Cortez Trend is shaping up to be one of the most prolific areas in the world to be exploring for gold.
Since 1996, Nevada’s Cortez Trend has seen a substantial spike in cumulative gold production, averaging approximately one million ounces a year since. Less than half the age of the Carlin Trend in terms of being a major gold producing district, the Cortez trend has incredible upside and many world-class orebodies yet to be discovered.
American Eagle Gold (TSXV:AE) is a mineral exploration company focused on exploring world-class gold deposits in North America. The company’s flagship Golden Trend project sits on the Cortez Trend, adjacent to Nevada Gold Mines’ Goldrush and Cortez Mine, the joint venture between Barrick Gold (TSX:ABX) and Newmont (TSX:NGT).
Golden Trend is strategically situated on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont’s Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The three mines north of Golden Trend host over 50 million oz. of gold reserves and resources. In total, they have produced over 25 million oz. since 1996. Newmont and Barrick’s three world-class properties were discovered ten years after one another, moving southwest along the Cortez trend. Golden Tend is a property southwest of the Nevada Gold Mines’ Goldrush deposit, which was discovered ten years ago.
The property has seen several generations of fieldwork, but no drilling deeper than 600m has been conducted, and only four holes were completed to depths greater than 350m. This lack of drilling creates huge potential for investors if drilling intercepts gold mineralization. Golden Trend is in the best possible location, being attached to Newmont and Barrick’s property. It also has a world-renowned expert in exploring carlin-type orebodies. With the proper plan and work, there is a real possibility that the next world-class orebody on this trend can be uncovered.
American Eagle is part of the Ore Group of companies, whose overall business plan centres on consolidating prospective land packages in mining-friendly jurisdictions and employing a talented team with strong financial and technical expertise. Golden Trend represents an opportunity to make a world-class gold discovery, which is paramount to American Eagle’s growth.
The company’s management team has extensive local and geological knowledge of the Golden Trend regional area, which poises excellent developmental capabilities and advanced exploration targeting American Eagle Gold. Most notably, Mark Bradley, American Eagle Gold’s VP of Exploration, was formerly the principal geologist of exploration opportunities at Barrick Gold and was co-discoverer of the Goldrush deposit. His top expertise in Carlin-type deposits and over 35 years of mining experience adds significant leadership power to the American Eagle Gold management team.
“The company intends to continue developing its property and focus on making smart, creative, accretive deals in the area. Its 2021 exploration plan involves field exploration to develop high probability targets for its drilling campaign to begin in Q3 2021.”
American Eagle Gold has a strong share structure with 56.5 million shares outstanding and a shareholder portfolio made largely of insiders, institutions, and management. Additionally, the company has an excellent financial footing with over $3 million in cash.
The Golden Trend project spans 2,286 acres consisting of 111 claims and lies immediately adjacent to the Goldrush deposit property and southeast of and along trend with the same structure as the Barrick Cortez mine within the Cortez Trend, Nevada.
The Golden Trend property is a Carlin-style gold prospect with large, underground gold systems hosted in lower plate carbonate rocks with the Cortez fault system to the west and the Northern Nevada Rift to the east. A series of northeast-trending, steeply dipping reverse faults transect the property. This geological profile also points to unique anomalous, albeit low level, gold, arsenic and mercury soils, which suggest these structures provided channel ways for mineralized hydrothermal fluids.
Carlin-style host rocks confirm the diagnostic chemical signature and proximity to known multi-million-ounce deposits warrant further exploration across the Golden Trend property. Future exploration will focus on defining drill targets by analyzing the relationship between the productive structures, geochemical anomalism and possible geophysical signature of undercover Carlin-style deposits.
Anthony Moreau has over ten years of experience in the mining industry. He is also a director of QC Copper & Gold and Orefinders Resources, both TSXV listed companies. Moreau previously worked with IAMGOLD comprising different roles within the organization, most recently Business Development and Innovation. He gained valuable experience working in a continuous improvement function at the Rosebel Gold Mine in Suriname. Moreau has spearheaded many industry initiatives, one of them being an international co-op peer benchmarking program owned and run by the participating mining companies.
He leads the Young Mining Professionals Toronto Chapter and is the Co-Chair of the YMP Scholarship Fund. Moreau is a graduate of the Queen’s School of Business and is a Chartered Financial Analyst.
Mark Bradley has over 35 years of experience in the mining exploration and development business. Bradley was Barrick Gold’s Cortez project team leader during the discovery and definition of Barrick Gold’s multi-million-ounce Goldrush deposit. Cortez and Goldrush are located just five kilometres to the northwest and north respectively of American Eagle Gold’s Golden Trend project. For this discovery, he was a co-recipient of the prestigious Thayer Lindsley Award for International Mineral Discovery from the Prospectors and Developers Association of Canada. During the Goldrush discovery program, he guided and managed the Cortez exploration team of over 20 geologists and over two hundred contracting personnel.
Bradley holds a B.Sc. in Geology from the University of New Mexico and an M.Sc. in Economic Geology from the University of Arizona.
Stephen Stewart is the CEO and director of Orefinders Resources Inc. and QC Copper & Gold and a director of Mistango River Resources. He is also managing partner of Minvest Partners, a private group focused on natural resource discovery and development. Stewart is the founder and chairman of the Young Mining Professionals Scholarship Fund, the largest mining-focused charitable organization and fund supporting mining engineering and geology education in Canada.
Stephen holds a Bachelor of Arts from the University of Western Ontario, a Master of Business Administration from the University of Toronto’s Rotman School of Management and a Master of Science from the University of Florida.
Joel Friedman is a finance professional with over 13 years of experience working in the mining and cannabis industries. Most recently, Joel served as the CFO of Khiron Life Sciences Corp, prior to this, he was Vice President, Finance at CannTrust Inc., and Director of Finance at Primero Mining Corp. and senior finance roles at Banro Corporation and Iamgold Corporation. Mr. Friedman began his career at Deloitte in the Real Estate and Resources group, where he worked with a variety of publicly listed clients throughout the mining lifecycle, from exploration to multi-asset operators. Mr. Friedman holds a CPA, CA and Honours Bachelor of Business Administration from the Schulich School of Business at York University, Canada.
C.J Greig and Associates was founded and is led by well-known exploration geologist Charlie Greig. The C.J Greig and Associates team is highly regarded for its porphyry Cu-Au deposit knowledge and discovery track record. Charlie Greig is the recipient of the BC Association for Mineral Exploration's H.H. 'Spud' Huestis Award in 2020, for the discovery of GT Gold Corp.'s Saddle North porphyry Cu-Au deposit and Saddle South epithermal Au deposit in northwest BC. American Eagle Gold is delighted to add to its growing exploration team supported by C.J Greig and Associates' high-quality geological and related services to advance NAK
American Eagle Gold Corp. ( TSXV: AE ) (" American Eagle " or the " Company ") has completed its inaugural scout drill program located at its Golden Gate property, within the Cortez Trend and adjacent to Barrick's Goldrush mine. Drilling focused on the Northern Cortez (GG21-001) and Southern Cortez targets (GG21-002), located in the footwall of the Cortez Fault zone, 10km southeast of Barrick's Cortez Hills mine and 5km southwest of Barrick's Goldrush mine
While no significant gold mineralization was encountered, the Company is encouraged by having identified deep alteration analogous to Barrick Gold's Goldrush, Fourmile, and Cortez Hills projects next door. The drill core from GG21-001 was geologically logged in detail and photographed and sampled for gold and multi-element geochemical analysis. Drilling at hole GG21-002 was challenging due to difficult drilling conditions and supply chain issues. Despite the technical problems, the target concept for GG21-002 remains valid and requires full drill testing. Therefore, GG21-002 will be re-entered and deepened upon sourcing a reverse circulation rig to test for lower plate rocks and mineralization.
Targeting and modelling work will continue over the Golden Gate property in 2022, incorporating the geologic and geochemical data from the 2021-22 drill program. In addition, new targeting work for the eastern half of the project area will be advanced, and additional geophysical surveys will be considered to highlight potential deep structures.
American Eagle will hold its annual general and special meeting (the " Meeting ") of shareholders of the Company (" Shareholders ") on June 30, 2022 , as more particularly described in the Notice of Meeting filed on the Company's profile on the System for Electronic Document Analysis and Retrieval (SEDAR). At the Meeting, the Company will seek the approval of disinterested Shareholders for its previously announced acquisition of the Cerros Rojos Project (the " Transaction "), as more particularly described in the Company's press release dated September 15, 2022 . The TSX Venture Exchange (" TSXV ") had provided conditional approval for the Transaction, provided that the Transaction received shareholder approval from the disinterested Shareholders not later than April 30, 2022 . The Company has received an extension from the TSXV and now has until June 30, 2022 , to obtain disinterested shareholder approval of the Transaction.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused on exploring its two properties, NAK and Golden Gate. NAK is in the Babine Copper-Gold Porphyry district in central British Columbia . Golden Gate is on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The Property is 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as the two deposit areas.
American Eagle's Vice President of Exploration, Mark Bradley , B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to exercise its option to acquire the Project as anticipated and whether the Company's exploration efforts on the Project produce the results that are anticipated by management. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under the American Eagle Gold Corp. profile at www.sedar.com .
SOURCE American Eagle Gold Corporation
View original content: http://www.newswire.ca/en/releases/archive/April2022/29/c9850.html
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American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") is pleased to announce that it is continuing to advance its British Columbia copper-gold Porphyry project, NAK. The Company is fully funded for NAK's 2022 exploration program and is awaiting its permit to begin drilling. American Eagle has contracted C.J. Greig and Associates to advise and execute the Company's exploration program at NAK. Geologist and president of C.J Greig & Associates, Charlie Greig is a recipient of the prestigious 2022 Bill Dennis Award, recognizing his contribution to the prospecting and exploration industry or a significant mineral discovery.
About NAK Copper-Gold Porphyry Project
Interpretation of the historical geophysics data seemingly delineates an underlying multi-phase porphyry source for the previously-drill-defined near-surface low-grade copper-gold mineralization. The proposed 2022 drill program will test the top of the larger intrusive stock starting at a depth of 500- 600m . This interpreted porphyry is a potential source and host for a deeper high-grade orebody, which has never been drill-tested.
The planned drill program consists of 6-8 diamond drill holes totalling 4,500m targeting the newly identified geophysical feature within a well-understood copper-gold porphyry province. NAK's known copper-gold porphyry mineralization is open at depth, and the compelling deep geophysical signature is analogous to Newcrest's Red Chris Mine and Newmont's Tatogga project in northwest BC.
Click Here for Corporate Presentation and NAK Overview
About C.J. Greig and Associates:
C.J Greig and Associates was founded and is led by well-known exploration geologist Charlie Greig . The C.J Greig and Associates team is highly regarded for its porphyry Cu-Au deposit knowledge and discovery track record. Charlie Greig is the recipient of the BC Association for Mineral Exploration's H.H. 'Spud' Huestis Award in 2020, for the discovery of GT Gold Corp.'s Saddle North porphyry Cu-Au deposit and Saddle South epithermal Au deposit in northwest BC. American Eagle Gold is delighted to add to its growing exploration team supported by C.J Greig and Associates' high-quality geological and related services to advance NAK
About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused on exploring its two properties, NAK and Golden Gate. NAK is in the Babine Copper-Gold Porphyry district in central British Columbia . Golden Gate is on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The Property is 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as at the two deposit areas.
American Eagle's Vice President of Exploration, Mark Bradley , B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to exercise its option to acquire the Project as anticipated, and whether the Company's exploration efforts on the Project produce the results that are anticipated by management. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com .
SOURCE American Eagle Gold Corporation
View original content: http://www.newswire.ca/en/releases/archive/February2022/25/c5438.html
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American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") is pleased to announce that it has received final approval from the TSX Venture Exchange (the " Exchange ") and has closed on the acquisition of an option to acquire a 100% interest in the NAK property (" Project ") in the Babine Copper-Gold Porphyry district in central British Columbia . American Eagle also announces that it has closed on a $1,510 ,774 Flow-Through Financing.
The NAK acquisition offers American Eagle Gold a valuable risk-reward proposition to drill test a new geophysical feature within a well-understood geologic environment. NAK's known copper-gold porphyry mineralization is open at depth and is defined by a compelling geophysical signature analogous to Newcrest's Red Chris Mine and Newmont's Tatogga project located in Northwest BC. The acquisition of NAK was supported by the analysis and reinterpretation of geochemical, geophysics and drilling data, all of which demonstrated coincidental anomalies.
Click Here For Presentation on NAK Acquisition
The Company has closed its previously announced private placement (the " Offering ") of 10,791,244 flow-through units (the " FT Units ") at a price of $0.14 per FT Unit, for gross proceeds of $1,510,774 . Each FT Unit consists of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act ( Canada ) (a " FT Share ") and one half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant will entitle the holder thereof to purchase one common share at a price of C$0.25 at any time for a period of 24 months from the closing of the Offering.
The funds will go towards the advancement and exploration of the Project.
The gross proceeds from the issue and sale of the FT Shares will be used for Canadian exploration expenses and will qualify as "flow-through mining expenditures", as defined in subsection 127(9) of the Income Tax Act ( Canada ), which will be incurred on or before December 31, 2022 and renounced to the subscribers with an effective date no later than December 31, 2021 in an aggregate amount not less than the gross proceeds raised from the issue and sale of the FT Shares.
As consideration for services provided by certain finders in connection with the Offering, the Company paid finder's fees consisting of (i) cash consideration of $98,754.19 , and (ii) 705,387 finder's warrants, each such finder's warrant entitling the holder to obtain one common share of the Company (a " Finder's Share ") at a price of $0.14 per Finder's Share for a period of 24 months from the closing of the Offering.
All securities issued and sold pursuant to the Offering will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws. Closing of the Offering was subject to all necessary regulatory approvals including final approval from the TSX Venture Exchange.
About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused on exploring its flagship property, Golden Gate. The Property is on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The Property is located 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as at the two deposit areas.
American Eagle's Vice President of Exploration, Mark Bradley , B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to exercise its option to acquire the Project as anticipated, and whether the Company's exploration efforts on the Project produce the results that are anticipated by management. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com .
SOURCE American Eagle Gold Corporation
View original content: http://www.newswire.ca/en/releases/archive/December2021/24/c1445.html
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American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") would like to announce that it intends to complete a non-brokered private placement (the "Offering") of up to 7,142,857 flow-through units of the Company (the "FT Units") at a price of C$0.14 per FT Unit for gross proceeds to the Company of C$1,000,000 . Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act ( Canada ) (each, a "FT Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share at a price of C$0.25 at any time two years from the closing of the Offering.
Proceeds from the Offering will be used for expanded exploration work at the Company's recently purchased NAK project located in the Babine Copper-Gold Porphyry district in central British Columbia.
The gross proceeds from the issuance of the FT Shares will be used for "Canadian Exploration Expenses" (within the meaning of the Income Tax Act ( Canada )) (the "Qualifying Expenditures"), which will be renounced with an effective date no later than December 31, 2021 to the purchasers of the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Shares for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures.
About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused on exploring its flagship property, Golden Gate. The Property is situated on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The Property is located 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as at the two deposit areas.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Completion of the Offering and the purchase of the NAK project both remain subject to approval of the TSX Venture Exchange. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding completing of the Offering. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com .
SOURCE American Eagle Gold Corporation
News Provided by Canada Newswire via QuoteMedia
American Eagle Gold Corp. (TSXV: AE) (" American Eagle " or the " Company ") is pleased to announce it has entered into an agreement to acquire a 100% interest in the Nakinilerak Property (" NAK " or the " Property ") in the Babine Copper District of British Columbia .
NAK is a copper-gold porphyry exploration target in the Stikine Island Arc Terrane, which hosts many copper-gold porphyry deposits. NAK's known copper-gold porphyry mineralization is open at depth and is defined by a compelling geophysical signature analogous to Newcrest's Red Chris Mine and Newmont's Tatogga project located in Northwest BC.
NAK's historic drill and exploration database have been digitized along with a reinterpretation of the geophysical and geochemical data to delineate targets for American Eagle's drill program in 2022. During the due diligence process, American Eagle Gold's team uncovered what appears to be a classic geophysical signature for a large underground copper/gold porphyry system.
NAK has had over $9 million of exploration work, including 18,000m of drilling. Most of the historical drill holes have been shallow, averaging less than 169m , which defined an extensive zone of near-surface, low-grade copper/gold mineralization, with the possibility of higher grades occurring at depth.
"The acquisition of NAK was data-driven and supported by the risk-reward proposition to drill test a new geophysical feature within a well understood geologic environment. Our plan with Golden Gate has not changed, and its drill program is underway, however with the addition of NAK, American Eagle adds exposure to a copper and gold property in Canada ," said Anthony Moreau , CEO of American Eagle Gold.
Click Here For Presentation on NAK Acquisition
Accordingly, the Company has entered into a Purchase Agreement (the " Purchase Agreement ") dated December 10, 2021 , with 1302580 B .C. LTD. (the " Vendor "), pursuant to which the Company will, subject to the approval of the TSX Venture Exchange, assume all rights and interest of the Vendor under the terms of an option agreement with the underlying claim owner (the "Owner") executed on April 28, 2021 (the "Option Agreement").
The total purchase price (the "Purchase Price") payable by the American Eagle Gold to the Vendor for the Property shall be:
The Vendor is currently earning a 100% interest in the Property under the terms of the Option Agreement, which calls for cash payments, in tranches, totalling $450,000 over three years and $1,000,000 in work obligations over three years to earn 100%, subject to a 2% NSR royalty to the Vendor which can be bought down to 1% by paying $1,500,000 . The Owner has the right to receive shares of the Company in lieu of the tranches totalling $450,000 in cash payments, provided that the value of such shares, at the respective time of issue of the tranche, cannot exceed an aggregate of $375,000 for the initial $300,000 in tranches, based on a ten-day volume-weighted price calculation prior to the issue of the tranche.
About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused on exploring its flagship property, Golden Gate. The Property is situated on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The Property is located 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as at the two deposit areas.
American Eagle's Vice President of Exploration, Mark Bradley , B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the TSX Venture Exchange will approve the Assignment Agreement, and whether the Company's exploration efforts on the Property produce the results that are anticipated by management. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com .
SOURCE American Eagle Gold Corporation
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We're taking a break from our usual format this week so I can give you a recap of the Vancouver Resource Investment Conference (VRIC), which ran from May 17 to 18.
This is the first time VRIC has been live since January 2020, and it was my first in-person event since all the way back in March 2020 — it was definitely exciting to be back on the show floor having face-to-face conversations, and I'm excited to share our interviews with you over the next couple of weeks.
For now, let's talk about VRIC themes. Although it was clear attendees were glad to be off Zoom and back in the real world, there was a sense of sobriety given the current state of the broader markets.
Major indexes like the S&P 500 (INDEXSP:.INX) and the Dow Jones Industrial Average (INDEXDJX:.DJI) continued to tumble this week, with the former down about 18.5 percent year-to-date and the latter down around 14.5 percent.
Experts at the show had a variety of advice about handling this volatility, which you'll see as we start publishing our videos. Well-known contrarian Rick Rule of Rule Investment Media said he's proceeding with caution, but has a shopping list ready and "absolutely" sees today's circumstances as a buying opportunity.
On the flip side, Mercenary Geologist Mickey Fulp said he's focused on taking profits in the juniors when he can, and is seeking safety in assets like physical gold and farmland.
Another key topic was the US Federal Reserve. Unsurprisingly, the consensus at VRIC was that the central bank took much too long to act on inflation — now that it's begun raising rates, with two hikes in the cards so far, opinions are split on how far the Fed will get and what the consequences will be.
For her part, Danielle DiMartino Booth of Quill Intelligence said during a panel that she's happy to see Chair Jerome Powell returning to his more hawkish roots. She mentioned bankruptcies and junk bond spreads gapping out as signs that things are breaking, and she thinks Powell will keep going until "something big" cracks.
Of course, given everything going on in the world, one of the top questions at VRIC was why the gold price isn't higher. Although it spiked above US$2,000 per ounce earlier this year as the war between Russia and Ukraine broke out, it was down around US$1,845 at the time of this writing on Friday (May 20) afternoon.
Again, diverse answers were given about this, and you'll see them all come through in our content. For now, one thing I want to point out is that very few people expressed a bearish outlook on the yellow metal — although many think a higher price will take time, there seems to be little doubt that this will emerge moving forward.
Click here to bookmark our VRIC playlist on YouTube, and stay tuned as we add interviews.
Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Rick Rule: Gold, Oil and Gas, Coal, Water — Commodities for Now and Lateryoutu.be
As the broader markets face volatility, what is investor and speculator Rick Rule doing with his money?
Speaking to the Investing News Network at the recent Vancouver Resource Investment Conference (VRIC), Rule, who is proprietor at Rule Investment Media, said he sees today's circumstances as an opportunity.
"What bear markets really are is sales, and if you think that sales are good, then these are good," he said. He has a shopping list ready and is looking for places he can scale in, but did urge listeners to proceed with caution.
"I'm no market forecaster, but part of me suggests this could get worse before it gets better," he noted.
In terms of the commodities he's focusing on right now, Rule mentioned gold as important for defensive reasons, and said that while the easy money has been made in oil and gas, "there's lots of money still to be made."
He's also interested in larger commodities companies that are out of favor at the moment, such as Glencore (LSE:GLEN,OTC Pink:GLCNF) and Vale (NYSE:VALE).
"Right now I've found in the resource space at least that the larger, better companies are relatively more attractive than the smaller companies," he explained during the conversation.
"Normally the smaller companies are cheaper because of the lack of knowledge about them, but we're still in a very narrative-driven market, and what I've found is that the higher-quality companies on a risk-to-reward basis are actually cheaper than the smaller ones," Rule added. If the current rout continues, he imagines that micro-cap stocks will become cheap again and he will return to that area of the market.
When asked where market participants should look if they can be patient, Rule made the case for coal.
"Despite the fact that (Greta Thunberg) doesn't like coal, 3 billion people on Earth want access to affordable electricity, and we aren't going to deny them that," he said, pointing out that 2021 was the highest year ever for coal demand. "That affordable electricity — whether we like it or not — comes from coal."
Watch the interview above for more from Rule on the resource sector, including his thoughts on water. You can also click here for our full VRIC playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
NOVAGOLD RESOURCES INC. ("NOVAGOLD" or the "Company") (NYSE American, TSX: NG) is pleased to announce the detailed voting results on the items of business considered at its Annual General Meeting of Shareholders held on May 18, 2022 (the "Meeting"). All proposals were approved and all eleven director nominees were elected. A total of 277,994,591 or 83.43% of the Company's issued and outstanding shares were represented at the Meeting.
Kevin McArthur joins the Board of Directors of NOVAGOLD
The Company is also pleased to report the election of Kevin McArthur to its Board at the Meeting, effective May 18, 2022. Mr. McArthur is an industry leader with over 40 years of experience encompassing many facets of the mining business, including operations, corporate development and executive management. He currently serves as a non-executive director of Royal Gold, Inc. and First Quantum Minerals Ltd. Mr. McArthur served as CEO of major precious metals mining companies, including Goldcorp Inc., Glamis Gold Ltd. and Tahoe Resources Inc., which was subsequently acquired by Pan American Silver Corporation. His earlier career focused on mine operations and project development with major international mining companies, including, BP Minerals and Homestake Mining Company. Mr. McArthur obtained a degree in Mining Engineering from the University of Nevada in 1979.
During this year's proxy outreach, NOVAGOLD engaged with shareholders owning 40,000-plus shares; thus contacting holders of approximately 86% of the Company's issued and outstanding common shares entitled to vote at the Meeting. Year-over-year the input received from shareholders has helped shape and improve the Company's corporate governance practices.
The Shareholders voted on the following matters at this year's Meeting:
Proposal 1 – Setting the Number of Directors
The vote was carried to set the number of Directors at eleven. The votes received by ballot were as follows:
The nominees listed in NOVAGOLD's Management Information Circular were elected as Directors of the Company. Detailed results of the votes are set out below:
The vote was carried for the Appointment of the Auditors, PricewaterhouseCoopers LLP. The votes received by ballot were as follows:
Proposal 4 – Advisory Approval of Executive Compensation ("Say-on-Pay")
The vote was carried on the Say-On-Pay Advisory Vote. The votes received by ballot were as follows:
Full details of all proposals are fully described in the Company's Management Information Circular dated March 25, 2022 available on the Company's website at www.novagold.com/investors/mic/ , on SEDAR at www.sedar.com , and on EDGAR at www.sec.gov , and the detailed results of voting on each proposal are included in the Report of Voting Results filed on SEDAR and on EDGAR.
Following the Meeting, the Board dissolved the Environment, Health, Safety, Sustainability and Technical Committee and two committees were created in its place: the Engineering and Technical Committee and the Sustainability Committee. The Board appointed Kevin McArthur to serve on the Corporate Communications Committee, and the Engineering and Technical Committee. The membership of each the standing Board committees is available on the Company's website at: https://www.novagold.com/company/directors/ .
The Annual General Meeting of Shareholders webcast and corporate presentation is available on NOVAGOLD's website under Presentations .
NOVAGOLD Contacts: Mélanie Hennessey Vice President, Corporate Communications
604-669-6227 or 1-866-669-6227
News Provided by GlobeNewswire via QuoteMedia
Investment strategies for weathering and benefiting from current market trends were a hot topic at Sydney's recent RIU Resources Round-Up, held in early May.
Current opportunities and potential future ones were highlighted in the keynote address offered by John Forwood, chief investment officer at Lowell Resources Funds Management.
Quoting a February report from the head of commodity research at Goldman Sachs (NYSE:GS), Forwood explained to attendees that we have reached a “molecule crisis” in the commodity space and are essentially “out of everything.”
This deficit has only been compounded by the war in Ukraine, which has further weakened supply fundamentals and chains.
“When the (war in) Ukraine started, about a month later the commodities index (represented by Bloomberg commodities index) had its highest one-week spike on record, and that's a record going back over 60 years,” Forwood said. “As we've seen in Ukraine, war has supercharged a number of these commodity prices.”
However, according to the CIO, there is still a considerable amount of upward growth potential.
“In terms of where we are in terms of that commodity basket, we're way behind where we were in 2008, pre the (global financial crisis) and after the mining boom of the 2000s,” he told the crowd.
“And we're way behind where the Dow Jones and equities in general have got to,” Forwood added. “So, we think that there's potential for the commodity sector to be just getting started.”
There are also several other factors that are adding tailwinds to the broad sector, according to Forwood, who cited inflation — which is at 5 percent in Australia and 7-8 percent in the US and UK — as a significant contributor.
Looking at the longer-term fundamentals that have gotten us here, Forwood pointed to lack of investment capital as a main driver.
“I think the big one, the long term one, is under investment,” he said, noting that the early 2000s mining boom led to a lot of investment, which we aren’t seeing today.
“But over the last seven or eight years, we've seen a real dearth of capital going back into the sector. And in fact, we've also seen a dearth of M&A — something that we've been looking out for and it's just not happening.”
In fact, as one of the slides Forwood presented laid out, investment from the resource industry back into itself reached a 19 year low late last year.
Despite the lack of large investment, Australia’s junior resource index was up 16 percent at the end of April compared to the broader market and the Dow Jones Index, which had slipped 9 percent.
“So that may represent a rotation from other sectors into the resources sector. And if that is the start of what's happening, that could be very, very significant for resource company prices,” he said, explaining the resource sector is actually very small on a global scale.
“And if you see significant global money flowing into that sector, you know, it's almost the sky's the limit,” Forwood added.
While speaking about several commodities, the CIO for Lowell Resource Funds Management took time to highlight how gold could also be positioned for an upward trend, because “commodities do best when inflation is rising, and interest rates are rising.”
He then displayed a chart that indicated gold was the top performer among US stocks and the US greenback during the first six months following the commencement of a Fed rate hike period.
Real interest rates, which are hovering around 0 percent, are likely to have no effect on gold's price because, according to the Forwood, rates would have to be 3 percent or higher to impact gold.
He did warn that stagflation could add more wind to the yellow metal’s sails moving forward.
“We think there's a decent chance of (stagflation) occurring, so what should you buy?” he posited. “If you think that stagflation is on its way, well, the answer is also gold.”
Forwood concluded his address by encouraging attendees to invest in the junior resource space.
“Finally, at the Lowell Fund, we like to invest in junior explorers,” he said.
“Because they're the ones who make the discoveries, and discoveries is where you can really add the most value.”
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Outback Goldfields CEO:17 million oz. of gold produced and producing within 3 miles of our propertyyoutu.be
Outback Goldfields (TSXV:OZ,OTCQB:OZBKF,FWB:S600) CEO Chris Donaldson shared that the company is actively working on two of its four properties in Victoria, Australia.
“It's early stage exploration. We're identifying targets, but we have an active program," Donaldson said. "We're doing what's prudent right now, which is taking the time and really doing things methodically. So we're doing an extensive soil sampling program across the Ballarat West and Yeungroon projects, looking for high levels of arsenic.”
As to the role of these results, he noted, “We're looking to get some heat maps of this anomalous arsenic, which really guides us for where we should do the diamond drilling. It’s more expensive, but also goes a lot deeper.”
Donaldson spoke to the value of the area: “It’s a historic site that had a gold rush in 1850, and it kind of put Australia on the map. Miners from all around the world were mining this high-grade, nuggety gold at or near the surface, and they did very well for 70 years. Then they basically mined it out until they hit a basalt cover or they hit the water table and then they stopped. For the next 100 years, it was very difficult mining until Fosterville made a phenomenal discovery of the Swan zone. It started what they're now calling the second gold rush.”
Donaldson said that Outback Goldfields was fortunate enough to acquire properties five years ago, when mining in the Victorian goldfields began to attract renewed attention. He mentioned that the company is using monitoring techniques to “try to go below that cover and see if we can find the fluid source for that high-grade, nuggety gold.”
Speaking to the regulatory systems of modern mining in the area, Donaldson said, “It's a first-world country. They have processes in place — certainly there's bureaucracy. But it's a known bureaucracy. They might take longer than I’d like, but they permit mines, they permit drilling. So, for us, at least, it's something that you can predict.”
As for the general gold market, Donaldson stated, “The reality is, we're up to US$1,900 gold per ounce, plus or minus right now, which is much higher than it was five years ago. The good news is that these goldfields are generally higher-margin, lower-cost mining. It's a multi-year process, and this is the time that we need to be starting these projects, knowing that it's going to take a few years for them to come to fruition.”
When discussing why investors should consider Outback Goldfields, Donaldson noted, “We're exploring what we consider the perspective of the land. The Ballarat West property covers over 40,000 hectares, and there have been 17 million ounces of gold produced within 5 kilometers of the property. We're in a great neighborhood.”
Donaldson also spoke about the company's next steps for the project, as well as its finances. “We're in the target identification phase. We're about halfway through a soil program, where we've done about 650 holes of the 1,300. We'll get those results this summer, and then have some key targets that we'll start drilling on for the back half of this year — with a bit of luck and some good planning, hopefully we find something great … we didn't spend a ton of money last year after our initial raise, so we certainly have enough to fulfill the the the exploration program that we have in front of us.”
Watch the full interview of Outback Goldfields CEO Chris Donaldson above.
Disclaimer: This interview is sponsored by Outback Goldfields (TSXV:OZ,OTCQB:OZBKF,FWB:S600). This interview provides information that was sourced by the Investing News Network (INN) and approved by Outback Goldfields in order to help investors learn more about the company. Outback Goldfields is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Outback Goldfields and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Exploring undeveloped land with the hopes of striking gold is a time-honored mining tradition, but it’s not the only way to create a profitable project. Restarting past-producing mines allows companies to start with proven mineralization, explore stockpile potential and utilize the existing infrastructure. In addition, stockpiles create a fast track to cash flow, as the previous miners may have had different criteria based on the economics of their time. For example, gold mines often stockpiled gold under a specific grade as it was not economically feasible, but given current prices and modern processing technology, it’s now worth processing the stockpiled gold and silver.
Restarting a past-producing mine begins by selecting the proper jurisdiction. Idaho, for instance, has mining-friendly policies that include tax incentives to create rural jobs. The gold rush of the 1800s led to the creation of the state. For example, the famous Silver City was founded near prolific silver and gold deposits. Mining policies in the state are focused on enabling ease of mining operations, both procedurally and practically.
CMX Gold & Silver notes that the previous miners simply followed the known vein system, and it was sufficient for their time and goals. However, the company plans to conduct additional exploration using modern techniques to identify other veins. Once identified, the company will conduct drilling operations to confirm survey results and identify additional development opportunities.
In a recent interview, CEO Jan Alston discussed the excitement surrounding the Clayton Silver Mine, stating, “After 50 years in operation, it was closed down when commodity prices fell in the mid-1980s. We think the potential exists to add a lot of shareholder value by doing the work that is needed to establish that there is a lot more ore still to be mined. Our hope is to get this mine operating again.”
A strong management team builds confidence in the company’s ability to capitalize on the past-producing mine. Jan Alston, CEO, has worked in the natural resources industry for over 35 years, including practicing business law in the oil and gas sector. Glen Alston, CFO, has 30 years of experience in corporate finance and has worked with mining companies focused on diamonds, precious metals, and base metals. Additional experts in geology and financing bring their specialties to the management team.
The flagship project covers 276 hectares and is roughly 30 kilometers from Custer country. It includes 29 patented mining claims, two patented mill sites, and six unpatented mining claims. Additionally, further exploration aims to identify targets for an upcoming drill program that hopes to locate additional mineralization.
Jan Alston was born in Calgary, Alberta and attended the University of Alberta, where he obtained a bachelor’s of arts in 1978 and an LLB in 1981. Alston has been involved in public junior natural resource companies for over 35 years. He practiced law in the 1980s in the areas of business law, oil and gas, securities regulation, and corporate finance. He led the management team as president, chief executive officer, director and cofounder of Purcell Energy, an oil and gas exploration and production company listed on the Toronto Stock Exchange. After sixteen years, Purcell 2005 sold two-thirds of its oil and gas assets for more than US$150 million and spun out Tenergy. From November 2005, Alston was chief executive officer and director of Tenergy, a Toronto Stock Exchange-listed natural gas exploration and production company, until its sale in March 2006 for US$92 million. Since 2006, he has been involved in several private businesses in management and as an investor.
Glen Alston attended the University of Calgary, where he obtained his bachelor’s of commerce in 1986. He has over 30 years of experience in executive and management roles with public junior mining exploration companies. Alston has been a senior officer and director of several junior companies, as well as being involved in many different aspects of the business, including stock exchange listings, corporate finance activities, corporate development, project management, and accounting and audit functions. He has extensive experience in facilitating exploration projects for precious metals, diamonds, and base metals.
James O’Sullivan is a partner in the Calgary office of Dentons LLP. His current practice focuses on providing corporate and commercial advice to junior issuers, including start-up and growth companies active in the energy, mining, healthcare and technology markets. O’Sullivan’s expertise includes corporate governance, regulatory compliance and continuous disclosure matters. He has extensive experience in financings, mergers and acquisitions and other corporate reorganizations. O’Sullivan also serves as corporate secretary for several Canadian public companies. He has been a member of the Law Society of Alberta since 2007.
Richard T. Walker attended the University of Calgary, where he obtained his bachelor’s of science in geology in 1986 and his master’s of science in geology in 1989. He is a professional geologist registered with the Association of Professional Engineers and Geoscientists of British Columbia. He has over 30 years of practical field experience working with organizations of all sizes, from junior to major mining companies, both private and public, in Canada, the United States, and South America. Walker’s primary role has been the management of exploration programs for precious metals, with an emphasis on silver, and base metals. He has successfully completed programs in diverse jurisdictions, including British Columbia, Alberta, Northwest Territories, Nunavut, Yukon Territory, Saskatchewan, New Brunswick, Montana, Alaska, Brazil, Peru, and Chile. Walker provides consulting services through his firm, Dynamic Exploration, of which he has been president since 1996. He is the former president of the East Kootenay Chamber of Mines and a director of the BC and Yukon Chamber of Mines.
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