Lithium Universe (LU7:AU) has announced Becancour Lithium Refinery Definitive Feasibility Study
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International Graphite (IG6:AU) has announced Japanese testwork achieves top results
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The Board of Inca Minerals Limited (ASX: ICG) (Inca or the Company) is pleased to provide shareholders a progress report on due diligence associated with the recently announced (ASX 5 February 2025) Binding Implementation Agreement to acquire Stunalara Metals Limited (Stunalara) via an off market takeover bid. Stunalara’s key asset is the high-grade gold & gold- antimony Hurricane Project located approximately 110km west-northwest of Cairns and 75km southwest of Port Douglas in North Queensland. Hurricane boasts multiple undrilled high-grade gold & gold-antimony prospects developed from rock chip and grab sampling.
Inca’s technical team recently conducted a site visit as part of the due diligence process to confirm and replicate historical geochemical data, culminating with the collection and dispatch for assaying of 84 rock chip samples. Assays have now been received for those samples with exceptional results recorded for gold (Au) and antimony (Sb) at multiple prospects including Holmes, Cyclone, Tornado, Hurricane and Bouncer confirming the high-grade prospectivity of the Hurricane Project.
Assay Highlights (Refer to table 1, Appendix 1 for full results)
Assays with gold greater than 5g/t:
- Hurricane South – Sample MC0374: 81.5g/t Au
- Hurricane North – Sample MC0368: 12.95g/t Au
- Hurricane South – Sample MC0379: 11.9g/t Au
- Bouncer – Sample HRX10042: 8.29g/t Au and 12.7% Sb.
- Typhoon – Sample HRX10055: 7.84g/t Au
- Holmes – Sample HRX10083: 6.4g/t Au
- Holmes – Sample MC0392: 6g/t Au
- 2 other samples returned gold greater than 4g/t, three with grades over 3g/t and 12 with grades over 1g/t.
Highly anomalous levels of Antimony (Sb) were also recorded, which included:
- Bouncer – Sample HRX10029 with 35.1% Sb
- Bouncer – Sample HRX10036: 20.8% Sb
- Bouncer – Sample HRX10042: 12.75% Sb
- Bouncer – Sample HRX10037: 9.54% Sb
- Bouncer – Sample HRX10033: 7.78% Sb
- Holmes – Sample MC0393: 5.28% Sb, and
- Holmes – Sample MC0398: 4.89% Sb
29 samples returned highly anomalous arsenic values > 0.1% (>1000ppm As, up to 9840ppm in 1 sample).
“The identification of high-grade gold and antimony in rock chips across different locations which have never been drilled, highlights the significant exploration potential of the Hurricane Project for the discovery of gold and antimony. Inca Minerals is looking forward to progressing follow-up exploration programs to build on this significant rock chip data,” said Inca Exploration Manager, Dr Emmanuel Wembenyui.
In addition to gold, the Hurricane Project results include high levels (up to 35%) of antimony, a critical and new economy metal. Antimony is listed as a critical mineral by the United States, the European Union, Japan, India, the United Kingdom and the Commonwealth of Austalia. New economy metals are pivotal for modern technologies, economies and national security, providing direct support for technologies that are paving the way to the transition from fossil fuels to net zero emmisions , advanced manufacturing and defence technologies/capabilities amongst other applications.
HURRICANE PROJECT
Inca is pleased to report highly encouraging results from a geological reconnaissance field trip to the gold and antimony Hurricane Project. The Hurricane Project is located about 110km west-northwest of Cairns and 75km southwest of Port Douglas in North Queensland, Figure 1.
The Hurricane Project comprises three tenements – EPM 19437, which hosts the Holmes, Porphyry, Monsoon and Cyclone prospects, EPM 25855 in which are located the Hurricane and Tornado Prospects, and EPM 27518, which hosts the Bouncer prospect, Figure 1.
Geology of the Hurricane Project Regional Geology
The Hurricane Project area falls within the Mossman 1:250,000 and the Mount Mulligan 1:100,000 Queensland Geological map sheets. The regional geology traverses a wide Geological Timescale from the Devonian in the Hodgkinson Formation through granodiorite and rhyolitic Carboniferous and Permian intrusions to Triassic and Quaternary Sandstones. The Hodgkinson Formation comprises dark grey to greenish, fine to medium quartz greywackes interbedded with siltstones, mudstones and conglomerates. The Carboniferous to Permian granitic/granodiorite and rhyolite intrusions comprise a suite of felsic porphyritic intrusions. The main porphyritic bodies comprise medium to coarse-grained mineral crystals including euhedral hornblende- biotite, k-feldspar and quartz, which locally grade into fine-grained silicified granites.
Local Geology
The three tenements which make up the Hurricane Project are structurally set within two major NW-SE trending faults, being the Hurricane Fault and the Retina Fault. The Hodgkinson Formation dominates these tenements and comprises of tightly folded greywackes, siltstones, shales, cherts, conglomerates and limestones. Locally within the Hurricane Project are 2 felsic intrusions, which occur in EPM 19437 and are predominantly porphyritic granites. These intrusions are the major source of heat, which mobilised hydrothermal fluids to interact with surrounding country rock, leading to widespread alteration in the form of silicification, sericite and carbonates, and account for the deposition of epithermal gold, silver, and antimony mineralised veins. Epithermal gold deposits are strongly associated with hydrothermal fluids that are related to calc-alkaline volcanism and magmatism. Plots of La-Y-Nb on the ternary diagram of Cabanis and Lecolle, 1989; shows that the Hurricane Project falls within the Arc Calc-Alkaline geo-tectonic setting, supporting an epithermal exploration model for the project (Figure 2). Epithermal gold could be low or high sulfidation, depending on mineralogy and can occur as veins, stockworks, replacements or disseminations. Mineralisation within the project area is associated with variably altered, silicified and brecciated quartz veins ranging in widths from 2 to >50m and lengths over 700m. The mineralogy of the Hurricane Project which includes gold, antimony, silver, very limited sulphur, +/- lead and zinc, leans towards the low sulfidation model.
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Liberty Gold (TSX:LGD,OTCQX:LGDTF) plans to spin out its Goldstrike project, including the Antimony Ridge discovery, into a separate entity that will focus on strategic metals exploration and development in the US.
The company will continue developing its Black Pine oxide gold project in Idaho, while shareholders will gain exposure to a newly formed entity dedicated to antimony and gold assets in Utah.
In a Tuesday (February 11) press release, Liberty Gold said it has identified a third high-grade antimony zone at Antimony Ridge, located approximately 1.5 kilometers west of previously known mineralization.
The newly discovered zone extends over 400 meters, contributing to a cumulative mapped strike length exceeding 2 kilometers. Soil geochemical anomalies suggest a broader mineralized area spanning up to 5 kilometers.
Recent surface sampling in the new zone has yielded antimony values exceeding 3 percent and gold concentrations reaching 0.68 grams per metric ton. Additional sampling efforts are ongoing to further delineate the mineralized zone.
Further, three drill sites near the historic Lejaiv mine at Antimony Ridge are permitted, with additional applications underway to cover a larger portion of the mineralized trend. Liberty Gold has also expanded its land position at Antimony Ridge by staking an additional 2 square kilometers, increasing the total claim block to 10 square kilometers.
‘We believe that separating Liberty Gold into two independent entities will unlock significant shareholder value and maximize market exposure to both the Black Pine Oxide Gold Project in Idaho and to the new Antimony Ridge discovery at our Goldstrike Project in Utah,’ said Cal Everett, CEO and director at Liberty Gold, in the company’s release.
Future plans for Antimony Ridge include additional surface sampling, detailed field mapping and geophysical surveys.
A drill permit application is expected to be submitted in the first quarter of 2025 to evaluate the depth and lateral extent of mineralization. An initial drilling program of up to 5,000 meters is planned from 16 drill sites.
Discussions are also underway regarding processing options, including toll milling agreements and potential partnerships for establishing a dedicated US-based processing facility. The company is assessing funding opportunities through government grants to support the development of domestic antimony production.
The spinout transaction is expected to create distinct investment opportunities for shareholders, separating Liberty Gold’s oxide gold development from the new entity’s strategic metals focus. Additional details regarding the structure of the spinout and future exploration plans will be released as regulatory approvals progress.
Antimony market outlook
According to Research and Markets, the global antimony market is projected to grow from an estimated US$2.5 billion in 2024 to US$3.5 billion by 2030, reflecting a CAGR of 6.2 percent.
Overall, the Asia-Pacific region accounts for nearly 44 percent of global demand, driven by applications in flame retardants, lead-acid batteries and electronic components.
Antimony trioxide and pentoxide compounds are widely used in fire-resistant materials for construction, textiles and electronics. Antimony is also considered a strategic metal for military and defense applications.
Antimony-lead alloys play a key role in lead-acid batteries, which remain essential for automotive applications, backup power systems and renewable energy storage. While lithium-ion batteries dominate the electric vehicle market, lead-acid batteries continue to be used for auxiliary power and engine startup functions.
The stability of antimony demand is tied to its diverse industrial applications, which include plastics, coatings and glass manufacturing.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Here’s a quick recap of the crypto landscape for Friday (February 14) as of 9:00 AM UTC.
Bitcoin and Ethereum price update
Bitcoin started the day trading at US$97,078, recording a 1.2 percent increase over 24 hours.
The period’s trading range saw a high of US$97,509 and a low of US$95,258.
Meanwhile, Ether was priced at US$2,733.80, marking a rise of 3.2 percent over 24 hours. The cryptocurrency reached an intraday high of US$2,733.80 and a low of US$2,618.75.
Altcoin price update
- Solana (SOL) is currently valued at US$200.61, 4.5 percent higher over 24 hours, after hitting a daily high of US$201.12 and a low of US$190.14.
- XRP rose to US$2.73, marking an 11.4 percent increase. The cryptocurrency reached an intraday high of US$2.77 and a low of US$2.42.
- Sui (SUI) is trading at US$3.65, near its highest valuation of the day and a 4 percent increase. It achieved a daily high of US$3.68 and a low of US$3.44.
- Cardano (ADA) is up, priced at US$0.8080, reflecting a 2.6 percent increase over 24 hours. Its highest price on Friday was US$0.8260 and its lowest was US$0.7765.
Crypto news to know
World Liberty Financial (WLFI), a crypto platform in which US President Donald Trump holds a financial stake, announced the launch of a strategic token reserve aimed at supporting Bitcoin, Ethereum and other leading cryptocurrencies.
In a statement posted on X, formerly known as Twitter, WLFI said the reserve would help mitigate market volatility, enable investments in decentralized finance and facilitate partnerships with financial institutions contributing tokenized assets.
The move comes as Trump and his family expand their crypto ventures.
In addition to WLFI, Trump Media & Technology Group recently announced its shift into financial services tied to crypto. Trump’s $Trump meme coin has generated millions in fees, and WLFI has recorded US$500 million in token sales.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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The Trump administration announced on Monday (February 10) it would be expanding steel and aluminum tariffs to all countries. The tariffs, set to come into effect on March 12, will disproportionally impact Canadian exports as Canada is the largest supplier of steel and aluminum to the US.
This isn’t the first time the president has imposed sweeping tariffs on the global steel and aluminum industries. The effect from the first round in 2018 was mixed. While it allowed domestic producers to charge more for their products, that increased downstream costs for consumers and manufacturers, leading to tighter profit margins and layoffs.
Even though the US produces enough steel to meet its own demand, incoming tariffs could still have negative implications for the North American auto industry. Coming into 2025, the sector anticipated growth but was also wary that some consumers were concerned about affordability. Increases in steel costs due to import fees and the potential for additional tariffs on cars and parts produced in Canada and Mexico could dampen vehicle sales.
Rising consumer costs came into view when the US Bureau of Labor Statistics released January’s consumer price index (CPI) data on Wednesday (February 12). The figures showed inflation ticking up in January to 3 percent on a yearly basis, up from the 2.9 percent increase in December. On a monthly basis, there was a 0.5 percent increase, up from the 0.4 percent the previous month.
Some analysts are expecting costs to rise even further as new tariffs take effect and producers begin raising prices accordingly. Higher CPI figures are also likely to impact the US Federal Reserve’s next meeting in March, with most analysts predicting the central bank will maintain the current rate of 4.25 to 4.5 percent.
Markets and commodities react
US equity markets saw sharp selloffs following the release of CPI data on Wednesday, but rallied to finish the week in positive territory, with the S&P 500 (INDEXSP:INX) gaining 1.13 percent to end at 6,114.62, and the Nasdaq-100 (INDEXNASDAQ:NDX) rising 2.05 percent to 22,114.69. The Dow Jones Industrial Average (INDEXDJX:.DJI) was flat, gaining just 0.34 percent to 44,546.09.
In Canada, the markets were more positive. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 0.96 percent on the week to close at 640.26 on Friday (February 14), the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 0.31 percent loss to hit 25,483.23 and the CSE Composite Index (CSE:CSECOMP) dropped 0.65 percent to 135.03.
After hitting new all time highs early in the week, the gold price was also affected by Wednesday’s CPI announcement. In the end, it managed to eke out a 0.78 percent increase to close the week at US$2,883.91 per ounce on Friday at 5:00 p.m. EST. Silver fared a little better, closing the week up 1.1 percent at US$32.13.
In base metals, the copper price climbed as high as US$4.88 per pound on the COMEX during trading Friday before pulling back to close at US$4.68, up 1.3 percent for the week. Copper is up significantly from the end of January, when it was just US$4.28. The S&P GSCI (INDEXSP:SPGSCI) was also up this week, gaining 1.07 percent to close at 569.44.
Top Canadian mining stocks this week
So how did mining stocks perform against this backdrop?
We break down this week’s five best-performing Canadian mining stocks below.
Data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.
1. Durango Resources (TSXV:DGO)
Weekly gain: 115.38 percent
Market cap: C$15.54 million
Share price: C$0.14
Durango Resources is an exploration company developing a portfolio of projects in Québec and BC, Canada.
Shares of the company have seen significant gains in 2025 following several news releases. The first came on January 15, when Durango announced it had acquired five critical minerals projects: an antimony site in Haida Gwaii, BC, and a rare earths project and three historical copper mines in Québec.
The properties were acquired for C$5,000 cash and the issuing of 4 million common shares to arm’s length vendors.
This was followed by news on January 30 that the company had completed an AI-powered study of its Babine West copper and gold project near Smithers, BC. The results suggested a large structure that coincides with a moderate magnetic anomaly.
The team hypothesizes the magnetism could be from a widespread zone of early stage alteration, which may be related to copper-gold porphyry systems at the neighboring American Eagle Gold’s (TSXV:AE,OTCQB:AMEGF) NAK project and AMARC Resources’ (TSXV:AHR,OTCQB:AXREF) Duke project.
Durango’s Babine project consists of four claim blocks covering 4,635 hectares and is located within one of BC’s most prolific porphyry copper and gold belts. According to the project page, exploration at the site has returned broad areas of mineralization, including 1.09 percent copper equivalent over 302 meters.
After slowly climbing through the week, Durango’s share price spiked to C$0.16 on Thursday (February 13). The company’s most recent news came on Tuesday (February 11), when it announced it had increased the project area for its recently acquired Victory antimony project in Haida Gwaii to 1,387 hectares. Newmont (TSX:NGT,NYSE:NEM) originally discovered the site in 1988, and a chip sample at the time contained 1.24 percent antimony.
2. Turmalina Metals (TSXV:TBX)
Company Profile
Weekly gain: 106.67 percent
Market cap: C$12.77 million
Share price: C$0.14
Turmalina Metals is a gold, silver and copper explorer that is developing a portfolio of projects in South America.
Its primary focus is the Colquemayo project in Moquegua, Peru. In July 2024, Turmalina entered into an option agreement with Compania de Minas Buenaventura to acquire a 100 percent ownership stake in the property.
The 6,600-hectare site has seen more than 20,000 meters of historic core drilling and hosts multiple porphyry targets that have been identified but have gone untested. Highlighted drill samples from the property have demonstrated results of 2.4 percent copper and 10 grams per metric ton (g/t) silver over 237.3 meters, including intersections of 3.4 percent copper and 14 g/t silver over 161.2 meters and 14.8 percent copper and 47 g/t silver over 31.3 meters.
In news released on Wednesday, the company said it was intensifying its focus on the project and would be relogging historic cores. Additionally, Turmalina hired INSIDEO, a Lima-based environmental consulting firm, to help advance baseline studies and a Declaración de Impacto Ambiental, which is needed for drilling permits. The release also indicated that the company is also in the process of rebranding which will include updating its name, ticker and website.
As part of the restructuring of Turmalina, company CEO Roger James will be stepping down, but maintaining a seat on the board, he will be replaced by Jonathan Richards as interim CEO.
3. Power Metals (TSXV:PWM)
Company Profile
Weekly gain: 70 percent
Market cap: C$111.12 million
Share price: C$0.85
Power Metals is a lithium and cesium exploration company focused on its Case Lake project.
Located in Northeastern Ontario, the site is 10 kilometers by 9.5 kilometers in size and comprises 585 cell claims. Exploration at the site between 2017 and 2024 led to the discovery of pegmatite dykes bearing lithium, cesium and tantalum (LCT). Case Lake now consists of six spodumene dykes that form a mineralization trend of about 10 kilometers.
Assays from the site released on Friday included a highlight of 8.07 meters grading 2.19 percent lithium oxide, 5.19 percent cesium oxide and 1,438 parts per million (ppm) tantalum. The results also included a 1 meter intersection bearing 1.85 percent lithium oxide, 11.7 percent cesium oxide and 208 ppm tantalum.
In addition to its most recent exploration news, Power Metals announced on Monday that it had brought on DRA Global to begin work on a maiden mineral resource estimate and preliminary economic assessment for the Case Lake project. It expects to have the former completed by the end of Q1 2025, with the latter to follow in Q2.
Adding to Power Metals’ recent share gains was a release on February 5 in which the company reported that it had been awarded a new exploration permit for Case Lake. The new permit will remain valid for the next three years and will be used to target newly identified cesium targets uncovered in late 2024.
4. Cascada Silver (CSE:CSS)
Company Profile
Weekly gain: 57.14 percent
Market cap: C$10.16 million
Share price: C$0.055
Cascada Silver is an exploration company working to advance its copper and molybdenum projects in Chile. Since the start of 2025, the company’s main focus has been on its Angie copper-molybdenum project in North-central Chile.
Cascada carried out its Phase 1 drill program at the 2,000 hectare site in 2024, with work focusing on an 800 by 1,500 meter target with molybdenum mineralization. Assays from the initial drill program, released on November 20, revealed results of 476 ppm molybdenum over 64 meters, including an intersection of 1,208 ppm molybdenum over 8 meters.
On December 17, the company announced it was mobilizing for the second phase of drilling at Angie using data acquired through a drone-based magnetometer survey. The Phase 2 program will consist of up to 2,000 meters of diamond drilling, with the first hole planned for a depth of 500 meters. Cascada announced on January 9 that drilling at the site had commenced and was expected to be completed in February, with assays available four to six weeks later.
Cascada’s most recent news came on February 3, when it announced that it would be listing on the OTCQB market under the symbol CSSCF. The company said this was a strategic step in enhancing its visibility and accessibility to US investors.
5. THEMAC Resources (TSXV:MAC)
Weekly gain: 55.56 percent
Market cap: C$11.91 million
Share price: C$0.14
THEMAC Resources is a copper exploration and development company that is developing the Copper Flat mine in Southwest New Mexico, US.
The brownfield site was mined until the early 1980s and hosts significant existing infrastructure, including a primary crusher structure, a coarse ore reclamation tunnel, and several building foundations. These will provide THEMAC with US$54 million in capital savings. An April 2020 feasibility study demonstrated a base case after-tax net present value of US$545.16 million with an internal rate of return of 20.8 percent over a payback period of 3.3 years.
In addition to the economics, the study also included a measured and indicated resource estimate of 1.39 billion pounds of copper, 40.66 million pounds of molybdenum, 737,000 ounces of gold and 14.74 million ounces of silver.
Shares in THEMAC climbed this week, although the company has not reported news so far in 2025.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many companies are listed on the TSXV?
As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.
Together the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) (‘Lode Gold ‘ or the ‘Company’) announces a non-brokered financing for $1,000,000.00.
Each $0.18 unit shall consist of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at an exercise price of $0.35 per common share for a period of three years following the date of closing.
The proceeds raised from the offering will go toward strategic initiatives and the execution of the business plan.
The Company plans to finalize this financing on or before March 10, 2025. The Annual General Meeting (AGM) and shareholder meeting will be held on March 10, 2025 to approve the Plan of Arrangement. Lode Gold shareholders, as of a specified record date, will be eligible to receive shares of Gold Orogen while retaining their existing shares of Lode Gold.
About Lode Gold
Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.
In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.
In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 445 km2 and a 44 km strike. McIntyre Brook covers 111 km2 and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold’s Queensway Project. Riley Brook is a 335 km2 package covering a 26 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.
In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in the 1940’s.
Mining was halted in 1942 due the gold prohibition in WWII just as it was ramping up production. Unlike typical brownfield projects that are mined out; only 11% of the veins have been exploited. The Company is the first owner to investigate an underground high grade mine potential at Fremont since the 1940’s.
The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 200 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.
Previously, in March 2023 the company completed an NI 43-101 Preliminary Economic Assessment (‘PEA’). Project Valuation has an after-tax NPV (5%) of USD $370M at $2000 2 /oz gold, IRR 31% and an 11-year LOM, averaging 118,000 oz per year. At $1,750 /oz gold, NPV (5%) is $217M. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike of Fremont property. Three step-out holes at depth (up to 1200 m) hit structure and were mineralized.
All NI 43-101 technical reports are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com).
QUALIFIED PERSON STATEMENT
The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology – UCT), FAusIMM, and who is a ‘qualified person’ as defined by NI-43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan, CEO & Director
Information Contact
Winfield Ding
CFO
info@lode-gold.com
+1-416-915-4257
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702
Cautionary Note Related to this News Release and Figures
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.
Cautionary Statement Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241117
News Provided by Newsfile via QuoteMedia
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Gold continued its record-setting rise this week, moving cleanly past the US$2,900 per ounce mark on Monday (February 10) and continuing on up. At the time of this writing on Friday (February 14), the yellow metal’s highest price for the period was about US$2,933.
Trade war concerns remain front and center, with US President Donald Trump saying on Monday that he would be imposing 25 percent tariffs on all steel and aluminum imports to the country.
The levies will take effect on March 12, and are geared at bolstering US production and jobs.
Trump escalated tariff talk even further on Thursday (February 13) by announcing reciprocal tariffs on goods coming into the US. They could start being put in place within weeks, and will reportedly be based on which tariffs individual countries have imposed on the US.
‘I have decided for purposes of fairness that I will charge a reciprocal tariff. Meaning whatever countries charge the United States of America we will charge them, no more no less’ — US President Donald Trump
Although one of Trump’s campaign promises was to curb inflation, he’s said tariffs could initially send prices higher for American buyers. Time will tell, but new consumer price index (CPI) and producer price index (PPI) data shared this week confirms that inflation continues to be sticky.
Bureau of Labor Statistics information shows CPI was up 3 percent year-on-year in January, above analysts’ expectations and higher than the 2.9 percent rise seen in December. On a monthly basis, CPI was up 0.5 percent, its biggest increase since August 2023. Core CPI, which excludes the volatile food and energy categories, was up 3.3 percent year-on-year and 0.4 percent from the previous month.
January PPI numbers also came in hotter than expected, rising 0.4 percent from December and 3.5 percent compared to January 2024. PPI tracks inflation before it reaches consumers.
During his semiannual testimony to Congress US Federal Reserve Chair Jerome Powell commented on the state of the economy, saying that the central bank isn’t in a hurry to reduce interest rates further.
‘With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance’ — Jerome Powell, US Federal Reserve
Gold tends to fare better when rates are lower, but lately has been bucking the trend — its historic price run began even before the Fed started cutting.
Bullet briefing — US seeks Ukrainian rare earths
US seeks Ukrainian rare earths
Ukraine may strike a rare earths supply deal with the US as the country looks to secure continued support in its war against Russia. Trump said last week that he expects ‘equalization’ from Ukraine for the help it has received, explaining that he wants to see in the form of US$500 billion worth of rare earths.
‘We’re telling Ukraine they have very valuable rare earths. We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earths and other things’ — US President Donald Trump
The president’s comments have raised numerous questions, including whether he’s referring specifically to rare earths, or to critical minerals in general.
Experts have also weighed in on whether Ukraine has the ability to supply such a large amount of material to the US — the Associated Press notes that existing geological studies are ‘largely inadequate’ and states that 40 percent of Ukraine’s metallic mineral resources are inaccessible due to Russian occupation.
It remains to be seen how this situation will play out, but it’s worth noting that Ukraine’s president appears encouraged by discussions with Trump.
‘Very substantive negotiations with the United States of America. I had a conversation with President Trump – a good and detailed discussion; I am grateful to the President for his genuine interest in our shared opportunities, in how we can work together to bring real peace closer’ — Ukraine President Volodymyr Zelensky
Send us your questions
We’ll be speaking with Kevin Wadsworth and Patrick Karim of Northstar Badcharts, Craig Hemke of TFMetalsReport.com and Yvonne Blaszczyk of BMG Group. Leave a comment below with your thoughts.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Investor Insight
A junior among the giants, Opawica Exploration’s strategic geographical advantage in the resource-rich Abitibi Greenstone Belt makes it a compelling investment opportunity.
Overview
Opawica Exploration (TSXV:OPW) is a Vancouver-based junior gold exploration company engaged in exploring and developing precious metal properties in Canada. Its flagship properties — Arrowhead, Bazooka and McWatters — are situated in the Abitibi Greenstone Belt, one of the most prolific gold-producing regions in the world. These projects, adjacent to some of the world’s largest gold producers, benefit from exceptional geological potential and established mining infrastructure.
Opawica is committed to sustainable and efficient exploration, utilizing advanced geological modeling and modern technologies to unlock the potential of its projects. Led by a highly experienced management team, Opawica is well-placed to become a pioneer in the next Canadian gold rush.
Company Highlights
- Opawica Exploration is focused on unlocking the value of its flagship projects through aggressive exploration and data-driven decision-making.
- Its flagship Bazooka project is strategically located along the Cadillac Fault Zone and features high-grade mineralization with significant historical and recent drilling success.
- The Arrowhead property, the company’s second flagship project, is located near major mining operations and is characterized by multiple mineralized zones and extensive drilling efforts confirming historical gold trends.
- The McWatters property represents a high-potential opportunity for resource expansion with visible gold showings and limited past exploration.
- The company’s portfolio of assets is in the Abitibi Greenstone Belt, one of the most prolific gold-producing regions globally, benefiting from exceptional geological potential and established mining infrastructure.
- Historical exploration on the properties includes over US$5 million in spending, extensive drilling campaigns revealing bonanza-grade intercepts, and validating mineralization potential.
Key Projects
Bazooka Project (Flagship)
Located in Canada’s highly prolific Abitibi Greenstone Belt, Bazooka spans approximately 1,200 hectares along 7 km of the Cadillac-Larder Lake Break in Quebec. It is contiguous with Yamana Gold’s Wasamac property and Yorbeau Resources’ Rouyn property. Located near operational gold mines, the property has excellent access to roads, power and water, facilitating year-round exploration.
Gold mineralization at the Bazooka project is associated with quartz-carbonate-sericite and talc-chlorite schists within sedimentary and ultramafic to mafic volcanic rocks. The Main Zone features significant silicification and visible free gold.
Historical exploration efforts on the Bazooka property include development of a 125-meter shaft and 634 meters of drifts in the 1950s by Eldona Gold Mines, and subsequent drilling campaigns by Lake Shore Gold and RT Minerals, which reported highlights such as 316.23 grams per ton (g/t) gold over 1 meter and 7.8 g/t gold over 17 meters.
Bazooka gold mineralization
Recent exploration work at Bazooka includes advanced 3D structural modeling and AI-driven target generation alongside multi-parameter airborne survey system (M-PASS) surveys. These efforts identified high-priority targets, culminating in the refinement of a robust geological model.
Going forward the company plans to complete approximately 10,000 meters of drilling across high-priority zones, focusing on resource delineation and advancing towards an economic assessment.
Arrowhead Project (Flagship)
The Arrowhead project is located in the Abitibi Greenstone Belt, surrounded by Agnico Eagle Mines’ holdings and near IAMGOLD’s Mouska Mine. Its proximity to established mines ensures access to robust infrastructure, including transportation networks and utility services, supporting efficient exploration efforts.
The asset hosts gold-rich volcanogenic massive sulphide (VMS) deposits, polymetallic veins, and quartz-carbonate auriferous veins. Historical exploration at Arrowhead identified 40 mineralized zones through drilling, alongside geochemical surveys that revealed VMS-style signatures and strong potential for gold mineralization.
A 2022 drill program consisting of 14 holes totaling 4,306 meters confirmed historical mineralization trends and extended gold anomalies. The integration of AI-driven geological modeling by ALS GoldSpot Discoveries further enhanced target generation for future drilling.
The company plans to initiate an exploration campaign on 25 permitted high-priority targets, aiming to validate and expand existing mineralized zones and progress the property towards resource estimation.
McWatters Project
Located along the Cadillac Fault Zone, adjacent to Yorbeau Resources’ Astoria Mine, the McWatters project benefits from a strategic location within a developed mining district, ensuring access to established roads, power and water infrastructure, facilitating logistical efficiency for exploration activities.
Mineralization at the McWatters property includes visible gold in quartz veins within deformation zones. Historical assays include 7.89 g/t gold over 3.05 meters. Limited historical exploration on McWatters identified multiple gold showings and promising drill intercepts, supported by geochemical and MMI studies that provide a foundation for further work.
Structural lineament interpretations and geological updates were conducted alongside advanced surveys to prioritize drill targets. Modern geophysical methods have identified several untested zones with strong mineralization potential.
Management Team
Blake Morgan – Chief Executive Officer
Blake Morgan has more than 15 years’ experience in capital markets, specializing in fundraising, IPOs and corporate development. He has successfully led companies through public offerings and raised significant capital for both private and public ventures. Previously, he held senior positions with Rio Tinto, BHP and Santos.
Marcy Kiesman – Chief Financial Officer
A CPA, CGA with over 15 years of expertise in public markets, Marcy Kiesman brings a combination of strategic financial planning, operational oversight and leadership, ensuring fiscal discipline and efficiency.
Philippe Harvard – Director
Philippe Harvard has more than a decade of experience in mineral exploration and entrepreneurship. As a principal of Investissements Gema, he has successfully acquired and developed mineral properties in Quebec. He is also the president of TelKel, an independent telecommunications company, and Cubicule Studio, a software engineering firm.
Owen King – Director
With 20 years of experience in financial markets and management consulting, Owen King has worked with public companies to assist in capital raises and business development. His expertise includes implementing quality management systems and fostering venture capital financing initiatives.
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HIGHLIGHTS:
- Cygnus’ common shares have qualified to trade on the OTCQB ® Venture Market (‘OTCQB’), a U.S. marketplace operated by OTC Markets Group Inc. (the ‘OTC’),
- Trading commences today under the ticker ‘CYGGF’
Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) (‘Cygnus’ or the ‘Company’) is pleased to announce that its common shares have qualified to trade on the OTCQB ® Venture Market (‘OTCQB’), a U.S. marketplace operated by OTC Markets Group Inc. (the ‘OTC’), and will commence trading today under the symbol ‘CYGGF’. The common shares of the Company will continue to trade on the ASX and TSX Venture Exchange.
Cygnus Executive Chair David Southam said : ‘Given the strong outlook for copper, it is an ideal time to trade on the OTCQB. This will help to make the Company accessible to a growing range of U.S. investors and further increase liquidity and visibility in North America. We have the potential to unlock substantial value with the high-grade resource already defined and the immense upside at the Chibougamau Copper-Gold Project. We have started an aggressive drilling and geophysics program focussed on achieving strong resource growth and testing new targets at a time when the world desperately wants more copper from tier-one locations’.
Trading of Cygnus shares on the OTC imposes no additional compliance or regulatory standards over and above the Company’s existing compliance requirements as an Australian incorporated entity listed on the Australian Securities Exchange and TSX Venture Exchange. OTC trading is non-dilutive to existing Cygnus shareholders, as no new shares are being issued to enable trading on the OTC.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX ® Best Market, the OTCQB ® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through its regulated OTC Link ® Alternative Trading Systems, the company connects a diverse network of broker-dealers that provide liquidity and execution services. The OTC enables investors to easily trade through the broker of their choice and empowers companies to improve the quality of information available for their investors.
The OTCQB is recognized as an ‘established public market’ by the U.S. Securities and Exchange Commission and is a leading market for U.S. and international companies in the entrepreneurial and development stage. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and detailed certification process. The OTCQB quality standards are expected to provide increased transparency and more detail on market depth including greater disclosure of market makers as well as improved liquidity. As a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with the goal of enhancing liquidity and achieving a fair valuation.
This announcement has been authorised for release by the Board of Directors of Cygnus.
| David Southam Executive Chair T: +61 8 6118 1627 E: info@cygnusmetals.com |
Ernest Mast President & Managing Director T: +1 647 921 0501 E: info@cygnusmetals.com |
Media: Paul Armstrong Read Corporate T: +61 8 9388 1474 |
About Cygnus Metals
Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
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