Brightstar Resources (BTR:AU) has announced Strong continuity of high-grade gold in Sandstone drilling
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A royalty company fully diversified in clean energy metals, Electric Royalties (TSXV:ELEC,OTCQB:ELECF) holds 42 total royalties with 18 additional optioned properties that could be converted into future royalties. The company focuses on on properties with near-term production potential in safe jurisdictions (primarily, the US and Canada). Its current royalty portfolio consists of assets that are either in production, advanced stage projects or exploration assets, ensuring cash flow generation and future growth potential.
The recent acquisition of the Punitaqui Copper Mine royalty provides immediate exposure to production, while assets like Authier Lithium and Battery Hill Manganese are expected to enter production in the near term.
The Punitaqui copper mine is permitted for 100,000 tonnes per month of processing capacity, with regional exploration potential that could further extend its operational life and increase production.
This Electric Royalties profile is part of a paid investor education campaign.*
Click here to connect with Electric Royalties (TSXV:ELEC,OTCQB:ELECF) to receive an Investor Presentation
Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to advise that today it will commence conducting a high-resolution ground magnetics and targeted pXRF assay program at the Company’s 100%-owned Kiabye Gold Project in Western Australia. The Company will aim to define potential gold bearing structures for conventional wet geochemical sampling.
HIGHLIGHTS
The program is focused on the most northern section of the Kiabye licence (E59/2893), which is one of the four exploration licenses that make up the project area. This straddles the Kiabye Greenstone Belt in the Yilgarn‘s Murchison Domain, southeast of Mount Magnet. The survey will total 10km2 and will be split into three areas of focus, based on priority (see Figure 1).
The program is expected to take 12 days, with coverage to depend on the rate of surveying, across both magnetics and pXRF assay follow-up. This will assist the Company in defining the three target areas, based on sample results (see Figure 2). A summary of each area is as follows:
Significance of Gold-in soils
In consideration of the highly diluting soil profile in the area, any soil sample with ≥20ppB Au is considered anomalous therefore Area 2 and 3 contain several areas with anomalous gold-in-soils.
Ground Magnetic Survey
The Red Mountain Mining team and contractors will conduct the geophysical survey initially at 100m east – west line spacing and 20m reading intervals. The data will be processed and interpreted in the field and where structures of interest are identifying these areas will be infilled to 50m line spacing. The main targets for gold mineralisation include shear zones and faults interpreted in the data. The surveys will collect data from 110 to 213-line kilometers depending on the number of infill lines conducted.
Project background:
The Kiabye gold project is located in WA and covers a strike length of 23km² of the greenstone belt (Figure 3) with less than half covered by exploration samples from historical explorers and only around 7% having been covered by prior holders.
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Invion Limited (ASX: IVX) (“Invion” or the “Company”) is pleased to announce that it has successfully completed a new share placement (Placement) to raise $2.0 million to advance research and development in Photosoft as a potential treatment for a range of cancers.
Highlights:
The offer price for the new shares of $0.14 per share represents a 2.5% premium to the 30-day volume-weighted average price (VWAP) and a zero discount to its last closing price before the Placement announcement on 27 February 2025.
The lead manager for the Placement, Blue Ocean Equities (Lead Manager), received strong demand for the Placement, which was originally seeking to raise $1.5 million from sophisticated investors.
The Placement will comprise of two tranches:
Investors in the placement will receive one unquoted attaching option for each new share with an exercise price of $0.28 and will expire three years from issue, subject to shareholder approval at the EGM.
The Lead Manager is to receive a capital raising fee of 6% on the proceeds of the Placement and will also receive a tranche of options to an equivalent value of approximately $80,000 using a Black Scholes options pricing formula with the following inputs:
The Company will lodge an appendix 3B with the ASX with these details as soon as the number of options has been calculated. These issue of these options is subject to the approval of shareholders at the EGM.
Use of Proceeds from the Placement
Proceeds from the raise will be used to recruit from a second clinical site for Invion’s Phase I/II non-melanoma skin cancer (NMSC) trial, initiate a Phase I/II anogenital trial with the Peter MacCallum Cancer Centre (Peter Mac) and for general working capital.
Invion plans to leverage the safety data from the NMSC trial to accelerate a pathway to the anogenital trial as both trials are using the same topical formulation of INV043. Anogenital cancers include penile, vulva and anal cancers, which are rare diseases.
A successful outcome in the anogenital trial may enable orphan drug designation with the U.S. Food & Drug Administration (FDA). The granting of an orphan drug designation will give Invion a faster and more cost-effective path to commercialise Photosoft for the treatment of the rare disease(s) in question.
Thian Chew, Invion’s Executive Chair and CEO, commented:
“We are delighted to welcome new shareholders to Invion via the Placement, many of whom are sophisticated investors in the biotech space that are supporting the Company after reviewing our achievements and the multiple milestones in our horizon.
“In addition to the skin and anogenital cancer trials, these milestones also include updates on the glioblastoma, oesophageal cancer and human papilloma virus studies that are fully funded by our partners.”
This announcement was approved for release by Invion’s Board of Directors.
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AgTech Company accelerates strategic focus on Industrial Hemp Carbon Credits business
Hempalta Corp. (TSXV: HEMP) (‘Hempalta’ or the ‘Company’) has released its financial results for the three months ended December 31, 2024. The Company’s unaudited interim condensed consolidated financial statements (the ‘Financial Statements’) and related management’s discussion and analysis (the ‘MD&A’) for the three-month period are available on www.sedarplus.ca.
Financial Results
As Hempalta sharpens its focus on the high-growth carbon credit market, the Company experienced a transition period in its financials during the last quarter.
Cost of Sales for the three months ended December 31, 2024 decreased 38% to $84,162, compared to the same period in 2023, primarily due to lower production volumes and cost efficiencies as the Company streamlined its operations to align with its carbon credit focus.
Net Loss for the three months ended December 31, 2024 was $432,281 ($0.00 per share), a 13% improvement over the same period in 2023, reflecting disciplined cost management and a one-time gain on debt settlement.
General & Administrative Expenses for the three months ended December 31, 2024 increased 79% year over year, primarily due to transaction fees associated with acquiring the remaining 49.9% interest in Hemp Carbon Standard Inc. (‘HCS‘), as well as lower expense allocations to cost of goods sold due to decreased production activity.
Financial Position & Shareholder Support
As of December 31, 2024, Hempalta had $182,768 in cash and $287,726 in working capital.
While the Company completes its planned focus on HCS over the balance of the second quarter, major shareholders Darren Bondar and Prairie Merchant Corporation (the ‘Lenders‘) have extended a one-year term loan in the aggregate amount of $325,000 at 12% interest (the ‘Loan‘). In connection with the Loan, the Company will issue a loan bonus to the Lenders of an aggregate of 5,416,667 common share purchase warrants (the ‘Warrants‘), exercisable for a period of one year with an exercise price equal to $0.06 (the ‘Bonus‘). The Warrants are subject to a hold period under Canadian securities laws, expiring four months and one day from the date of issuance. The Loan and the Bonus are subject to the approval of the TSX Venture Exchange. This Loan provides additional working capital to support Hempalta’s growth in the carbon credit market.
As the Lenders are insiders of the Corporation, the issuance of the Warrants to the Lenders is considered to be a related party transaction within the meaning of Exchange policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security holders in Special Transactions (‘MI 61-101’). The Company intends to rely on exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the Lender participation.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, ‘U.S. persons,’ as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration is available.
Industrial Hemp Carbon Credits Platform
With full ownership of HCS, Hempalta is now poised to scale a unique, low-cost carbon credit platform focused on industrial hemp. This milestone marks a pivotal step in the Company’s evolution toward becoming a leader in nature-based carbon removal solutions.
The demand for high-integrity carbon credits continues to rise as corporations seek solutions to meet their net-zero commitments. Industrial hemp offers a unique advantage in carbon sequestration due to its rapid growth cycle and ability to store CO2 both in biomass and soil.
HCS has pioneered a precision quantification methodology using remote sensing and AI-driven monitoring, ensuring the accurate measurement and verification of CO2 removal. The platform empowers industrial hemp farmers to monetize regenerative agriculture practices while providing corporate buyers with premium carbon credits backed by ISO 14064-2 certification.
By participating in the voluntary carbon market, industrial hemp farmers can diversify revenue streams while contributing to global climate action. The completion of the HCS acquisition enables Hempalta to:
Outlook
Darren Bondar, President and Chief Executive Officer of Hempalta, said, ‘In our first years of operation, we focused on scaling industrial hemp processing and consumer packaged goods. As demand for sustainable solutions grows, we have shifted toward the rapidly expanding voluntary carbon market. Our acquisition of 100% of HCS solidifies our ability to offer scalable, high-integrity carbon credits with a low-capital model. By collaborating with farmers and corporate buyers, we are positioned to drive sustainability while generating long-term growth for Hempalta and our investors.’
To further align with this strategic shift, the Company is also marketing its turnkey hemp production facility and processing equipment, and exploring licensing opportunities for its CPG product lines.
Investor Updates
Investors can follow Hempalta’s journey as it pioneers high-integrity carbon removal solutions by subscribing to the mailing list for investor updates at www.hempalta.com where they can also view the latest corporate presentation and company announcements.
About Hempalta
Hempalta Corp. (TSXV: HEMP) is a nature-based carbon credit provider leveraging industrial hemp’s potential to sequester carbon. Through its subsidiary, Hemp Carbon Standard Inc. (HCS), the Company develops methodologies and supports farmers in monetizing regenerative agriculture practices. In addition to HCS, Hempalta Processing Inc. manages the Company’s established hemp-based product lines, which are available for licensing.
Learn more at www.hempalta.com or contact Investor Relations at invest@hempalta.com.
For more information, please contact:
Darren Bondar
Chief Executive Officer
Hempalta Corp.
Email: info@hempalta.com
Sales or Partner Opportunities:
Cecil Horwitz
Business Development
Email: cecil.horwitz@hempalta.com
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 press release.
Forward-Looking Information
This news release contains statements and information that, to the extent that they are not historical fact, may constitute ‘forward-looking information’ within the meaning of applicable securities legislation. Forward-Looking information is typically, but not always, identified by the use of words such as ‘will’, ‘expected’, ‘plans’, ‘enable’, ‘positions’, ‘aim’ and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-Looking information in this news release includes, but is not limited to, statements regarding: the Company’s plans with respect to the HCS platform, including the scaling of such program; the integration of HCS positioning the Company to deliver premium-quality carbon credits efficiently to corporate buyers; fluctuations in the capital resources of the Company; the demand for carbon credits increasing; industrial hemp farmers being able to diversify their revenue streams by participating in the voluntary carbon market; the acquisition of HCS positioning the Company to tap into the expanding carbon credit market using a low-capital, scalable model; the Loan, the Bonus and the approval of the Exchange of both the Loan and the Bonus; the use of proceeds from the Loans; and the Company offering its turnkey hemp production facility and processing equipment for sale, while also exploring one-time licensing opportunities for its CPG product lines. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to successfully implement its strategic plans and initiatives and the expected benefits therefrom; the anticipated benefits of the HCS acquisition and of the business of HCS; the anticipated benefits from offering its turnkey hemp production facility and processing equipment for sale, while also exploring one-time licensing opportunities for its CPG product lines; the ability of farms and sites currently signed up by HCS to grow hemp; required regulatory approvals; the ability of the Company to effect its proposed strategy and business plans; the approval of the Exchange with respect to the Loans and the Bonus; and the ability of HCS to sell carbon removal credits through the voluntary credit market. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Actual results may vary from those currently anticipated due to a number of factors and risks including, but not limited to: the risk that the benefits from the HCS acquisition, and the ownership and operation of the HCS business, will not be as anticipated; the risk that the Company will not be able to successfully offer the turnkey hemp production facility and processing equipment for sale, and if done successfully, the risk that the benefits therefrom will not be as anticipated; receipt of necessary regulatory approvals including the Exchange; risks associated with general economic conditions; conditions in the carbon credit markets; adverse industry events; the risk that farms and sites currently signed up by HCS will not grow or be able to grow industrial hemp as anticipated or at all; the Company has limited financial resources and may require additional funds to continue operating; the Company may not generate sufficient revenue to maintain operations; the forecasts and models of the Company could be inaccurate; the risk that HCS may not be able to sell carbon removal credits as anticipated or at all; adverse weather conditions affecting the growth of hemp; future legislative, tax and regulatory developments; the risk factors included in the Company’s other continuous disclosure available on SEDAR+ at www.sedarplus.ca; and the ability of management to execute its business strategy, objectives and plans. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES
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American West Metals Limited (American West Metals or the Company) (ASX:AW1) is pleased to announce positive findings of the Preliminary Economic Analysis (PEA) for the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.
Positive Preliminary Economic Analysis (PEA) defines Pathway to Production:
2025 drilling to accelerate growth of copper resources:
The PEA has outlined a technically robust project and demonstrated that Storm has the potential to become a profitable, long-life mine with strong economic returns for the Company.
The PEA estimates that an open pit mining and mineral processing facility at Storm can be developed with a low initial capital cost of US$47.4m to deliver a project NPV of approximately US$149m and a post-tax IRR of approximately 46%.
Shareholder returns can be substantially enhanced by use of 100% debt to fund development, which boosts the approximate pre-tax IRR to an impressive 135%. American West is in ongoing discussions with a number of parties regarding the potential for off-take or other debt-based financing for the development of Storm.
The PEA is based on the current Storm MRE of 20.6Mt at 1.1% Cu and 3.8g/t Ag which contains 229Kt of copper and 2.2Moz of silver (using a 0.35% Cu cut-off). With less than 5% of the 110km prospective copper horizon at Storm systematically explored with drilling and numerous exploration targets already identified along the copper belt, there is strong potential to add significant copper resources to the Storm MRE. The Company is planning a major exploration program for 2025 to test a pipeline of high-quality copper targets.
American West believes the dual focus of exploration in pursuit of new discoveries while progressing feasibility studies will continue to stamp Storm as an attractive copper development opportunity.
The below key economic metrics of the PEA highlight the competitive cost profile and investment returns (all financial metrics are approximations estimated on the basis of assumptions in the PEA). A copy of the PEA is attached to this ASX Release.
Dave O’Neill, American West’s Managing Director, said:
“Our field work and development studies in 2024 have laid the groundwork for what we believe will be a transformational year for American West.
“The initial economic study is an enormous milestone for the Storm Copper Project. It is exciting to announce a low capital cost pathway to mine development with significant upside to expand the production profile and mine life as our continuing exploration identifies further copper resources.
“Storm is now well positioned to be the next copper mine in Canada, joining other very successful base metal mines in the region such as Polaris (22Mt @ 14.1% Zn, 4% Pb) which operated for 21 Years, and Nanisivik (18Mt @ 9% Zn, 0.7% Pb) which operated for 26 years. We will now initiate the permitting process and progress feasibility study work.
“American West will also continue a strong focus on resource expansion and exploration drilling to fully unlock the resource potential along the prospective 110km copper belt at Storm.
“Exploration in 2024 delivered a pipeline of new discoveries and targets that we will follow-up in 2025. There are several large-scale exploration targets that offer excellent potential for a new discovery – walk-up drill targets that are supported by strong EM plates, gravity anomalies, copper gossans at surface, or high-grade copper confirmed by reconnaissance drilling.
“There is very strong potential to quickly add tonnes to the existing mineral resource estimate. With the scoping study supporting the economic potential of a mining operation at Storm, any increase in the resource is likely to further enhance the potential economics of that mining operation.
“We look forward to updating investors on the 2025 field program as arrangements are finalised.”
Click here for the full ASX Release
Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) (‘Quimbaya Gold’ or the ‘Company’) is pleased to announce that, further to its news release on August 1, 2024 announcing the entering into of drilling contract with Independence Drilling S.A., a first service order has concluded for an initial first 4000-meter drilling campaign (the ‘Initial Drilling Campaign’) for its Tahami South property which is adjacent and on trend to Aris Mining’s Segovia project. The contract has been assigned to Elawa S.A.S., an affiliated entity and mining division of Independence Drilling S.A., and concurrently the Company has also finalized an agreement with Palmer Assets Holding Corp. (‘Palmer’ and together with Elawa, the ‘Drilling Contractors’) to provide consulting services for the Initial Drilling Campaign.
This milestone marks Quimbaya Gold’s next step toward discovery. With this drilling program, the company aims to:
The selected providers have established meaningful relationships with local communities and have contributed to the success of other Colombian exploration projects.
Under the terms of this initial work order, Quimbaya Gold has agreed to compensate the Drilling Contractors 100% in shares through the issuance of units at $0.30, with each Unit consisting of one common share at $0.30 and one common share purchase warrant exercisable at $0.40 for a period of two years (‘Consideration Units’). The total cost of the anticipated 4000-meter drilling campaign is expected to be approximately $1.2 million CAD. To align with project milestones, it is anticipated that the Consideration Units will be placed into an escrow account with Olympia Trust Company and will be released periodically as drilling services are completed throughout the campaign. The issuance of the Consideration Shares will be completed pursuant to available exemptions under applicable securities laws and subject to a statutory hold period of four months and a day from the respective date of issuance under Canadian National Instrument 45-102 – Resale Restrictions, and any other regulatory approvals, as required.
Alexandre P. Boivin, President and CEO of Quimbaya Gold, commented: ‘With drilling set to begin, we are poised to capitalize on our prime location adjacent to Aris Mining’s world-class Segovia operation. This program is our first step toward unlocking the immense potential of Tahami South, where historical data indicates high-grade gold systems.’
The Company anticipates providing ongoing updates to its stakeholders in the coming weeks and months. It is expected these updates will offer further insight into key developments, milestones, and results as they become available.
Market Making Agreement
In the Company’s news release of February 26, 2025, the Company announced that it had engaged a market maker. The Company would like to clarify that this agreement is with Integral Wealth, and not Independent Trading Group.
Equity Compensation
The Company has granted 900,000 stock options (‘Options’) and 636,250 restricted share units (‘RSUs’) to directors, officers and advisors pursuant to the terms and conditions of the Omnibus Equity Compensation Plan. The Options will be exercisable at a price of $0.40 per share with an expiry of 2 years.
About Quimbaya Gold
Quimbaya is active in the exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Department, Colombia.
Contact Information
Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com
Jason Frame, Manager of Communications jason.frame@quimbayagold.com
Quimbaya Gold Inc.
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Cautionary Statements
This news release contains forward-looking statements and/or forward-looking information (collectively, ‘forward-looking statements’) within the meaning of applicable securities laws. When used in this release, such words as ‘would’, ‘will’, ‘anticipates’, believes’, ‘estimates’, ‘potential’, ‘explores’ ‘expects’ and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of the Company with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. Certain information and statements contained in this news release constitute forward-looking statements, which reflects the Company’s current expectations regarding future events, including but not limited: the initial depth of the Initial Drilling Campaign, if any; the successful completion of the Initial Drilling Campaign program and any future drilling under the initial contract, should they proceed, if at all; the ability of the Company to finance and execute its planned and future exploration activities; the quality of service and reputation of the Drilling Providers; the effectiveness of any potential drilling results in defining mineral resources or leading to a commercial discovery; the timing and process for the release of escrowed Consideration Units to the Drilling Providers; the anticipated cost of the Initial Drilling Campaign, if any, which may be subject to overruns; the receipt of regulatory approvals; the obligation for future updates as it relates to the Initial Drilling Campaign or future campaigns; and the initial and the overall success and advancement of the Company’s projects.
Forward-Looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the high degree of uncertainties inherent to feasibility and economic studies which are based to a significant extent on various assumptions; variations in commodity prices and exchange rate fluctuations; variations in cost of supplies and labour; lack of availability of qualified personnel; the quality of word provided by the Drilling Providers, if any; the receipt of necessary approvals; availability of financing; uncertainties and risks with respect to exploration and drilling; general business, economic, competitive, political and social uncertainties; certainty that finalized the commercial agreements will be successfully executed; risk of costs overruns with the Initial Drilling Campaign or future campaigns, if any, assurance that the final terms will align with those initially agreed upon or that the Initial Drilling Campaign will proceed as anticipated; timelines for drilling, if at all; obtaining required approvals of regulatory authorities; ability to access sufficient capital from internal and external sources; any assurances that the Company’s stock price will appreciate or maintain its current value; and the fact that the transaction will result in dilution to the Company’s existing shareholders, which may impact the market value of their holdings. The Company cautions that there is no guarantee that the planned Initial Drilling Campaign, if commenced, will yield successful results, identify mineral resources, or lead to further exploration or development. Exploration activities are inherently speculative, and drilling results may be inconclusive, insufficient, or unfeasible for further development. The cost estimates provided are subject to change, and the ability of the Company to continue exploration depends on factors such as market conditions, commodity prices, regulatory approvals, and access to additional funding. Additionally, the issuance of Consideration Units as compensation may remain subject to regulatory and exchange final approval, and there is no assurance that such approval will be obtained. The securities issued in connection with this transaction may be subject to resale restrictions under applicable securities laws and CSE policies. For a more fulsome additional list of risk factors please see the Company’s December 31, 2023, year-end Management Discussion and Analysis (‘MD&A’), 2024 third-quarter MD&A, available of SEDAR+ at www.sedarplus.ca.
Management of the Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide shareholders with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements included in this news release should not be read as guarantees of future performance or results. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
Neither CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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(TheNewswire)
March 3, 2025 TheNewswire – Drilling at La Soledad, has intercepted multiple high-grade veins as the Target 1 resource update drilling progresses at the Copalquin silver and gold district property in Durango State, Mexico.
HIGHLIGHTS
4.95m @ 20.5 g/t gold, 1,833 g/t silver, from 107m (MTH-ES25-11), including
0.55m @ 110 g/t gold, 7,530 g/t silver, from 110m,
0.56m @ 22.8 g/t gold, 1,425 g/t silver, from 130.49m
3.77m @ 1.42 g/t gold, 100.8 g/t silver, from 136.78m, including
0.92m @ 4.97 g/t gold, 296.4 g/t silver, from 136.78m
2.55m @ 9.97 g/t gold, 571.8 g/t silver from 112m, (MTH-ES25-10), including
1.00m @ 20.7 g/t gold, 1,130 g/t silver from 113m
4.85m @ 1.47 g/t gold, 165.3 g/t silver, from 67.2m including
0.80m @ 4.49 g/t gold, 308 g/t silver from 68.0m
0.55m @ 2.42 g/t gold, 504 g/t silver from 70.0m
0.25m @ 15.2 g/t gold, 786 g/t silver from 98.25m (MTH-ES25-09),
0.30m @ 5.39 g/t gold, 210 g/t silver from 138m
0.50m @ 13.25 g/t gold, 584 g/t silver from 89.8m (MTH-ES25-08),
7.40m @ 1.59 g/t gold, 64.6 g/t silver from 17.6m, including
2.48m @ 3.28 g/t gold, 107.4 g/t silver from 17.6m
1.75m @ 1.29 g/t gold, 41.4g/t silver from 97.0m
In February, a further six drill holes have been completed at La Soledad, with drilling ongoing expanding the footprint and structural knowledge in this silver and gold rich NW trending structure. Considerable strike and depth potential exists in this area.
Addition of a second drill is on schedule with the municipal access road upgrade for completion late March, allowing 35,000m of core drilling in the district throughout 2025 and advancing the next two target areas while developing the large district scale geologic model
Mithril Silver and Gold Limited (‘Mithril’ or ‘the Company’) (MTH:ASX, MSG:TSXV) announces drill results for the Target 1 resource expansion programme at its Copalquin District project, Mexico.
John Skeet, Mithril’s Managing Director and CEO commented:
‘Drilling at La Soledad in the Target 1 area has continued to produce exceptional results for this silver and gold rich multi-level historic mine area. The La Soledad structure is open at depth and to the north-west with the opportunity to locate additional ‘ore shoots’ along strike. The drill program is expanded in the La Soledad area with several additional holes to complete before moving the drill to Refugio West in the Target 1 resource area. Drilling in the Target 1 area will continue until the end of March 2025, the anticipated cut-off date for the resource update drilling. The second drill is scheduled to be on site and commence drilling early April, at the Target 2 area. Progress is on track to complete 35,000 metres of drilling this year, aiming to considerably expand the resource footprint and define the 10 km wide, extensive epithermal silver-gold system in our 70km 2 district.’
COPALQUIN GOLD-SILVER DISTRICT, MEXICO
With 100 historic underground gold-silver mines and workings plus 198 surface workings/pits throughout 70km 2 of mining concession area, Copalquin is an entire mining district with high-grade exploration results and a maiden JORC resource. To date there are several target areas in the district with one already hosting a high-grade gold-silver JORC resource at El Refugio (529koz AuEq @6.81 g/t AuEq) 1 supported by a conceptional underground mining study completed on the maiden resource in early 2022 ( see ASX announcement 01 March 2022 and metallurgical test work (see ASX Announcement 25 February 2022 ). There is considerable strike and depth potential to increase the resource at El Refugio and at other target areas across the district, plus the underlying geologic system that is responsible for the widespread gold-silver mineralisation.
With the district-wide gold and silver occurrences and rapid exploration success, it is clear the Copalquin District is d eveloping into another significant gold-silver district like the many other districts in this prolific Sierra Madre Gold-Silver Trend of Mexico.
Drilling is in progress at the Target 1 drill area where the current maiden resource drilling is scheduled to be completed by end of Q1 2025. Channel sampling work, using a diamond rock saw, has continued adjacent to the Target 1 area and immediately to the south towards the Copalquin creek. Drilling is planned to commence with the second drill rig at the Target 2 area by April 2025.
Click Image To View Full Size
Figure 1 LiDAR identified historic workings across the 70km 2 district. Target 1 area current drilling location, channel sampling area and the high priority drill target areas of Las Brujas-El Peru (Target 2) and La Constancia-El Jabali (Target 3). Several new areas highlighted across the district for follow-up work.
Drill Results Discussion
Drilling at La Soledad , the north-westerly tending structure on the north-eastern side of the Target 1 resource area, has returned excellent intercepts ahead of the planned resource update. Results for drill holes MTH-ES25-08 to MTH-ES25-11 are summarised below. Drilling is continuing at La Soledad where a further seven holes have been completed and four of these dispatched to the assay laboratory.
4.95m @ 20.5 g/t gold, 1,833 g/t silver, from 107m (MTH-ES25-11), including
0.55m @ 110 g/t gold, 7,530 g/t silver, from 110m,
0.56m @ 22.8 g/t gold, 1,425 g/t silver, from 130.49m
3.77m @ 1.42 g/t gold, 100.8 g/t silver, from 136.78m, including
0.92m @ 4.97 g/t gold, 296.4 g/t silver, from 136.78m
4.85m @ 1.47 g/t gold, 165.3 g/t silver, from 67.2m (MTH-ES25-10), including
0.80m @ 4.49 g/t gold, 308 g/t silver from 68.0m
0.55m @ 2.42 g/t gold, 504 g/t silver from 70.0m
2.55m @ 9.97 g/t gold, 571.8 g/t silver from 112m, including
1.00m @ 20.7 g/t gold, 1,130 g/t silver from 113m
0.25m @ 15.2 g/t gold, 786 g/t silver from 98.25m (MTH-ES25-09), plus
0.30m @ 5.39 g/t gold, 210 g/t silver from 138m
7.40m @ 1.59 g/t gold, 64.6 g/t silver from 17.6m (MTH-ES25-08), including
2.48m @ 3.28 g/t gold, 107.4 g/t silver from 17.6m
0.50m @ 13.25 g/t gold, 584 g/t silver from 89.8m
1.75m @ 1.29 g/t gold, 41.4g/t silver from 97.0m
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At El Cometa on the eastern side of the Target 1, the last two holes completed at resource area returned multiple shallow intercepts. The near surface ( 2 compared with 1.00 g/t AuEq 2 for >100m down hole intercept reporting) reflecting its potential for lower cost mining methods.
El Cometa features a broad mineralised structure with cross cutting structures hosting very high-grade gold and silver, such as reported from drill hole CDH-159 in 2024 ( 33.00m @31.8 g/t gold, 274 g/t silver from surface).
Intercepts for MTH-EC25-06 and MTH-EC25-07 are summarised below and have continued to build on the excellent results from this shallow mineralisation.
1.00m @ 1.56 g/t gold, 58.3 g/t silver from 31.0m (MTH-ES25-07)
1.00m @ 0.72 g/t gold, 29.0 g/t silver from 33.5m
6.00m @ 1.33 g/t gold, 178.6 g/t silver from 95.0m, including
1.70m @ 4.07 g/t gold, 588 g/t silver from 98.15m
7.00m @ 1.56 g/t gold, 70.5 g/t silver from 126m, including
1.00m @ 8.70 g/t gold, 272 g/t silver from 127m
2.90m @ 0.83 g/t gold, 88.0 g/t silver from 22.6m (MTH-ES25-06)
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ABOUT THE COPALQUIN GOLD SILVER PROJECT
The Copalquin mining district is located in Durango State, Mexico and covers an entire mining district of 70km 2 containing several dozen historic gold and silver mines and workings, ten of which had notable production. The district is within the Sierra Madre Gold Silver Trend which extends north-south along the western side of Mexico and hosts many world-class gold and silver deposits.
Multiple mineralisation events, young intrusives thought to be system-driving heat sources, widespread alteration together with extensive surface vein exposures and dozens of historic mine workings, identify the Copalquin mining district as a major epithermal centre for Gold and Silver.
Within 15 months of drilling in the Copalquin District, Mithril delivered a maiden JORC mineral resource estimate demonstrating the high-grade gold and silver resource potential for the district. This maiden resource is detailed below (see ASX release 17 November 2021 ) ^ and NI43-101 Technical Report filed on SEDAR+
2,416,000 tonnes 4.80 g/t gold, 141 g/t silver for 373,000 oz gold plus 10,953,000 oz silver (Total 529,000 oz AuEq*) using a cut-off grade of 2.0 g/t AuEq*
28.6% of the resource tonnage is classified as indicated
Tonnes (kt) |
Tonnes (kt) |
Gold (g/t) |
Silver (g/t) |
Gold Eq.* (g/t) |
Gold (koz) |
Silver (koz) |
Gold Eq.* (koz) |
|
El Refugio |
Indicated |
691 |
5.43 |
114.2 |
7.06 |
121 |
2,538 |
157 |
Inferred |
1,447 |
4.63 |
137.1 |
6.59 |
215 |
6,377 |
307 |
|
La Soledad |
Indicated |
– |
– |
– |
– |
– |
– |
– |
Inferred |
278 |
4.12 |
228.2 |
7.38 |
37 |
2,037 |
66 |
|
Total |
Indicated |
691 |
5.43 |
114.2 |
7.06 |
121 |
2,538 |
157 |
Inferred |
1,725 |
4.55 |
151.7 |
6.72 |
252 |
8,414 |
372 |
|
TOTAL |
2,416 |
4.80 |
141 |
6.81 |
373 |
10,953 |
529 |
Table 1 – Mineral resource estimate El Refugio – La Soledad using a cut-off grade of 2.0 g/t AuEq*
* The gold equivalent (AuEq.) values are determined from gold and silver values and assume the following: AuEq. = gold equivalent calculated using and gold:silver price ratio of 70:1. That is, 70 g/t silver = 1 g/t gold. The metal prices used to determine the 70:1 ratio are the cumulative average prices for 2021: gold USD1,798.34 and silver: USD25.32 (actual is 71:1) from kitco.com. Metallurgical recoveries are assumed to be approximately equal for both gold and silver at this early stage. Actual metallurgical recoveries from test work to date are 96% and 91% for gold and silver, respectively. In the Company’s opinion there is reasonable potential for both gold and silver to be extracted and sold. Actual metal prices have not been used in resource estimate, only the price ratio for the AuEq reporting. Formula for AuEq. = Au grade +((Ag grade/gold:silver price ratio) x (Ag recovery/Au recovery))
^ The information in this report that relates to Mineral Resources or Ore Reserves is based on information provided in the following ASX announcement: 17 Nov 2021 – MAIDEN JORC RESOURCE 529,000 OUNCES @ 6.81G/T (AuEq * ), which includes the full JORC MRE report, also available on the Mithril Resources Limited Website.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
Mining study and metallurgical test work supports the development of the El Refugio-La Soledad resource with conventional underground mining methods indicated as being appropriate and with high gold-silver recovery to produce metal on-site with conventional processing.
Mithril is currently exploring in the Copalquin District to expand the resource footprint, demonstrating its multi-million-ounce gold and silver potential.
Mithril has an exclusive option to purchase 100% interest in the Copalquin mining concessions by paying US$10M on or any time before 7 August 2026 (option has been extended by 3 years). Mithril has reached an agreement with the vendor for an extension of the payment date by a further 2 years (bringing the payment date to 7 August 2028).
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Figure 2 – Copalquin District location map, locations of mining and exploration activity and local infrastructure
-ENDS-
Released with the authority of the Board.
For further information contact:
John Skeet Managing Director and CEO jskeet@mithrilsilvergold.com +61 435 766 809 +1 672 962 7112 |
Mark Flynn Investor Relations mflynn@mithrilresources.com.au +61 416 068 733 |
Competent Persons Statement – JORC
The information in this announcement that relates to metallurgical test results, mineral processing and project development and study work has been compiled by Mr John Skeet who is Mithril’s CEO and Managing Director. Mr Skeet is a Fellow of the Australasian Institute of Mining and Metallurgy. This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code.
Mr Skeet has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Skeet consents to the inclusion in this report of the matters based on information in the form and context in which it appears. The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
The information in this announcement that relates to sampling techniques and data, exploration results and geological interpretation for Mithril’s Mexican project, has been compiled by Mr Ricardo Rodriguez who is Mithril’s Project Manager. Mr Rodriguez is a Member of the Australasian Institute of Mining and Metallurgy. This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code.
Mr Rodriguez has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rodriguez consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
The information in this announcement that relates to Mineral Resources is reported by Mr Rodney Webster, Principal Geologist at AMC Consultants Pty Ltd (AMC), who is a Member of the Australasian Institute of Mining and Metallurgy. The report was peer reviewed by Andrew Proudman, Principal Consultant at AMC. Mr Webster is acting as the Competent Person, as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, for the reporting of the Mineral Resource estimate. A site visit was carried out by Jose Olmedo a geological consultant with AMC, in September 2021 to observe the drilling, logging, sampling and assay database. Mr Webster consents to the inclusion in this report of the matters based on information in the form and context in which it appears
The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Qualified Persons – NI 43-101
Scientific and technical information in this Report has been reviewed and approved by Mr John Skeet (FAUSIMM, CP) Mithril’s Managing Director and Chief Executive Officer. Mr John Skeet is a qualified person within the meaning of NI 43-101.
Table 2 Mineralised intercepts in reported drillholes above 0.1 g/t AuEq.
(*See ‘About Copalquin Gold Silver Project’ section for JORC MRE details and AuEq. Calculation)
Hole ID |
From (m) |
To (m) |
Length (m) |
Sample ID |
Gold (g/t) |
Silver (g/t) |
AuEq* |
AgEq* |
MTH-EC25-06 |
3 |
4 |
1 |
799610 |
0.043 |
3.9 |
0.1 |
6.91 |
MTH-EC25-06 |
11 |
12 |
1 |
799619 |
0.065 |
3.7 |
0.12 |
8.25 |
MTH-EC25-06 |
14 |
15 |
1 |
799622 |
0.069 |
6.6 |
0.16 |
11.43 |
MTH-EC25-06 |
16 |
17 |
1 |
799624 |
0.117 |
4.6 |
0.18 |
12.79 |
MTH-EC25-06 |
17 |
18 |
1 |
799626 |
0.072 |
2.7 |
0.11 |
7.74 |
MTH-EC25-06 |
18 |
19 |
1 |
799627 |
0.048 |
6.7 |
0.14 |
10.06 |
MTH-EC25-06 |
19 |
20 |
1 |
799628 |
0.065 |
2.3 |
0.1 |
6.85 |
MTH-EC25-06 |
20 |
21 |
1 |
799629 |
0.05 |
4.5 |
0.11 |
8 |
MTH-EC25-06 |
22 |
22.6 |
0.6 |
799631 |
0.037 |
4.9 |
0.11 |
7.49 |
MTH-EC25-06 |
22.6 |
23.25 |
0.65 |
799632 |
0.596 |
30.1 |
1.03 |
71.82 |
MTH-EC25-06 |
23.25 |
24 |
0.75 |
799633 |
0.46 |
36.2 |
0.98 |
68.4 |
MTH-EC25-06 |
24 |
25 |
1 |
799634 |
1.365 |
174 |
3.85 |
269.55 |
MTH-EC25-06 |
25 |
25.5 |
0.5 |
799635 |
0.599 |
68.8 |
1.58 |
110.73 |
MTH-EC25-06 |
25.5 |
26 |
0.5 |
799636 |
0.154 |
10.3 |
0.3 |
21.08 |
MTH-EC25-06 |
26 |
26.85 |
0.85 |
799637 |
0.274 |
14.9 |
0.49 |
34.08 |
MTH-EC25-06 |
26.85 |
27.85 |
1 |
799638 |
0.065 |
5.1 |
0.14 |
9.65 |
MTH-EC25-06 |
27.85 |
28.85 |
1 |
799639 |
0.078 |
11.5 |
0.24 |
16.96 |
MTH-EC25-06 |
28.85 |
29.85 |
1 |
799641 |
0.34 |
27.1 |
0.73 |
50.9 |
MTH-EC25-06 |
29.85 |
30.85 |
1 |
799642 |
0.263 |
12.3 |
0.44 |
30.71 |
MTH-EC25-06 |
30.85 |
31.45 |
0.6 |
799643 |
0.068 |
11.2 |
0.23 |
15.96 |
MTH-EC25-06 |
31.45 |
32.1 |
0.65 |
799644 |
0.136 |
6.3 |
0.23 |
15.82 |
MTH-EC25-06 |
32.1 |
32.6 |
0.5 |
799645 |
0.127 |
6.4 |
0.22 |
15.29 |
MTH-EC25-06 |
32.6 |
33.17 |
0.57 |
799646 |
0.094 |
8.5 |
0.22 |
15.08 |
MTH-EC25-06 |
33.17 |
33.81 |
0.64 |
799647 |
0.095 |
5.8 |
0.18 |
12.45 |
MTH-EC25-06 |
33.81 |
34.4 |
0.59 |
799648 |
0.175 |
16.4 |
0.41 |
28.65 |
MTH-EC25-06 |
34.4 |
35 |
0.6 |
799649 |
0.094 |
6 |
0.18 |
12.58 |
MTH-EC25-07 |
15 |
15.55 |
0.55 |
799704 |
0.158 |
6.2 |
0.25 |
17.26 |
MTH-EC25-07 |
15.55 |
16.05 |
0.5 |
799705 |
0.347 |
4.3 |
0.41 |
28.59 |
MTH-EC25-07 |
21 |
21.5 |
0.5 |
799711 |
0.037 |
7.7 |
0.15 |
10.29 |
MTH-EC25-07 |
21.5 |
22 |
0.5 |
799712 |
0.055 |
25.5 |
0.42 |
29.35 |
MTH-EC25-07 |
31 |
32 |
1 |
799723 |
1.56 |
58.3 |
2.39 |
167.5 |
MTH-EC25-07 |
33.5 |
34 |
0.5 |
799727 |
0.332 |
13.9 |
0.53 |
37.14 |
MTH-EC25-07 |
34 |
34.5 |
0.5 |
799728 |
1.11 |
44.2 |
1.74 |
121.9 |
MTH-EC25-07 |
36 |
37 |
1 |
799731 |
0.057 |
4.8 |
0.13 |
8.79 |
MTH-EC25-07 |
37 |
38 |
1 |
799732 |
0.086 |
3.5 |
0.14 |
9.52 |
MTH-EC25-07 |
39 |
39.85 |
0.85 |
799734 |
0.116 |
4.8 |
0.18 |
12.92 |
MTH-EC25-07 |
39.85 |
40.85 |
1 |
799735 |
0.089 |
4.2 |
0.15 |
10.43 |
MTH-EC25-07 |
40.85 |
41.85 |
1 |
799736 |
0.096 |
5 |
0.17 |
11.72 |
MTH-EC25-07 |
41.85 |
42.85 |
1 |
799737 |
0.048 |
4.3 |
0.11 |
7.66 |
MTH-EC25-07 |
42.85 |
43.55 |
0.7 |
799738 |
0.246 |
11.4 |
0.41 |
28.62 |
MTH-EC25-07 |
69 |
69.8 |
0.8 |
799745 |
0.096 |
4.5 |
0.16 |
11.22 |
MTH-EC25-07 |
79.2 |
80 |
0.8 |
799746 |
0.408 |
15.9 |
0.64 |
44.46 |
MTH-EC25-07 |
82 |
82.8 |
0.8 |
799749 |
0.079 |
6 |
0.16 |
11.53 |
MTH-EC25-07 |
85.85 |
86.35 |
0.5 |
799751 |
0.548 |
1.8 |
0.57 |
40.16 |
MTH-EC25-07 |
86.35 |
87 |
0.65 |
799752 |
0.391 |
13.7 |
0.59 |
41.07 |
MTH-EC25-07 |
87 |
87.55 |
0.55 |
799753 |
0.056 |
4.8 |
0.12 |
8.72 |
MTH-EC25-07 |
88.6 |
89.4 |
0.8 |
799755 |
0.444 |
6 |
0.53 |
37.08 |
MTH-EC25-07 |
89.4 |
89.95 |
0.55 |
799756 |
0.1 |
6.5 |
0.19 |
13.5 |
MTH-EC25-07 |
89.95 |
90.7 |
0.75 |
799757 |
0.117 |
6.7 |
0.21 |
14.89 |
MTH-EC25-07 |
90.7 |
91.5 |
0.8 |
799758 |
0.088 |
5.9 |
0.17 |
12.06 |
MTH-EC25-07 |
91.5 |
92 |
0.5 |
799759 |
0.069 |
2.2 |
0.10 |
7.03 |
MTH-EC25-07 |
94.5 |
95 |
0.5 |
799763 |
0.088 |
2.2 |
0.12 |
8.36 |
MTH-EC25-07 |
95 |
95.7 |
0.7 |
799764 |
0.177 |
6.2 |
0.27 |
18.59 |
MTH-EC25-07 |
95.7 |
96.35 |
0.65 |
799765 |
0.888 |
29.9 |
1.32 |
92.06 |
MTH-EC25-07 |
97 |
98.15 |
1.15 |
799767 |
0.131 |
14.1 |
0.33 |
23.27 |
MTH-EC25-07 |
98.15 |
99 |
0.85 |
799768 |
5.54 |
767 |
16.50 |
1154.8 |
MTH-EC25-07 |
99 |
99.85 |
0.85 |
799769 |
2.6 |
409 |
8.44 |
591.00 |
MTH-EC25-07 |
99.85 |
100.35 |
0.5 |
799770 |
0.096 |
31.4 |
0.54 |
38.12 |
MTH-EC25-07 |
100.35 |
101 |
0.65 |
799771 |
0.206 |
20.9 |
0.50 |
35.32 |
MTH-EC25-07 |
101 |
101.8 |
0.8 |
799772 |
0.076 |
6.8 |
0.17 |
12.12 |
MTH-EC25-07 |
102.4 |
103 |
0.6 |
799774 |
0.082 |
7.3 |
0.19 |
13.04 |
MTH-EC25-07 |
103 |
104 |
1 |
799776 |
0.112 |
12.7 |
0.29 |
20.54 |
MTH-EC25-07 |
104 |
104.5 |
0.5 |
799777 |
0.033 |
6 |
0.12 |
8.31 |
MTH-EC25-07 |
104.5 |
105.2 |
0.7 |
799778 |
0.049 |
10 |
0.19 |
13.43 |
MTH-EC25-07 |
107 |
108 |
1 |
799781 |
0.141 |
7.6 |
0.25 |
17.47 |
MTH-EC25-07 |
108 |
109 |
1 |
799782 |
0.086 |
5.7 |
0.17 |
11.72 |
MTH-EC25-07 |
109 |
110 |
1 |
799783 |
0.051 |
4.8 |
0.12 |
8.37 |
MTH-EC25-07 |
112.65 |
113.65 |
1 |
799787 |
0.233 |
19.5 |
0.51 |
35.81 |
MTH-EC25-07 |
116.65 |
117.65 |
1 |
799791 |
0.109 |
12 |
0.28 |
19.63 |
MTH-EC25-07 |
125.4 |
126 |
0.6 |
799792 |
0.133 |
8.5 |
0.25 |
17.81 |
MTH-EC25-07 |
126 |
127 |
1 |
799793 |
0.232 |
33.3 |
0.71 |
49.54 |
MTH-EC25-07 |
127 |
128 |
1 |
799794 |
8.7 |
272 |
12.59 |
881 |
MTH-EC25-07 |
128 |
129 |
1 |
799795 |
0.181 |
30.6 |
0.62 |
43.27 |
MTH-EC25-07 |
129 |
130 |
1 |
799796 |
0.953 |
91.4 |
2.26 |
158.11 |
MTH-EC25-07 |
130 |
131 |
1 |
799797 |
0.178 |
15 |
0.39 |
27.46 |
MTH-EC25-07 |
131 |
132 |
1 |
799798 |
0.261 |
27.7 |
0.66 |
45.97 |
MTH-EC25-07 |
132 |
133 |
1 |
799799 |
0.425 |
23.8 |
0.77 |
53.55 |
MTH-EC25-07 |
133 |
134 |
1 |
799802 |
0.034 |
6.6 |
0.13 |
8.98 |
MTH-EC25-07 |
134 |
135 |
1 |
799803 |
0.075 |
7.8 |
0.19 |
13.05 |
MTH-EC25-07 |
135 |
136 |
1 |
799804 |
0.442 |
15.2 |
0.66 |
46.14 |
MTH-EC25-07 |
137 |
138 |
1 |
799806 |
0.138 |
5.2 |
0.21 |
14.86 |
MTH-EC25-07 |
138 |
139 |
1 |
799807 |
0.083 |
6.1 |
0.17 |
11.91 |
MTH-EC25-07 |
139 |
140 |
1 |
799808 |
0.069 |
6.8 |
0.17 |
11.63 |
MTH-EC25-07 |
140 |
141 |
1 |
799809 |
0.055 |
4.6 |
0.12 |
8.45 |
MTH-EC25-07 |
146 |
147 |
1 |
799815 |
0.499 |
56.3 |
1.30 |
91.23 |
MTH-EC25-07 |
148 |
149 |
1 |
799817 |
0.047 |
4.6 |
0.11 |
7.89 |
MTH-EC25-07 |
149 |
150 |
1 |
799818 |
0.078 |
8.2 |
0.20 |
13.66 |
MTH-EC25-07 |
150 |
150.6 |
0.6 |
799819 |
0.369 |
20.7 |
0.66 |
46.53 |
MTH-EC25-07 |
152 |
153 |
1 |
799822 |
0.219 |
35 |
0.72 |
50.33 |
MTH-EC25-07 |
155 |
156 |
1 |
799826 |
0.262 |
37.3 |
0.79 |
55.64 |
MTH-EC25-07 |
184.5 |
185 |
0.5 |
799834 |
0.065 |
4.9 |
0.14 |
9.45 |
MTH-EC25-07 |
189.05 |
189.65 |
0.6 |
799841 |
0.082 |
4.2 |
0.14 |
9.94 |
MTH-EC25-07 |
189.65 |
190.15 |
0.5 |
799842 |
0.062 |
5.6 |
0.14 |
9.94 |
MTH-EC25-07 |
196 |
196.5 |
0.5 |
799849 |
0.154 |
7.8 |
0.27 |
18.58 |
MTH-EC25-07 |
196.5 |
197.1 |
0.6 |
799851 |
0.375 |
1.8 |
0.40 |
28.05 |
MTH-EC25-07 |
199.6 |
200.1 |
0.5 |
799855 |
0.098 |
1.8 |
0.12 |
8.66 |
MTH-EC25-07 |
200.1 |
201 |
0.9 |
799856 |
0.065 |
2.7 |
0.10 |
7.25 |
MTH-LS25-08 |
0 |
1.5 |
1.5 |
799861 |
0.136 |
18.2 |
0.40 |
27.72 |
MTH-LS25-08 |
2 |
3 |
1 |
799863 |
0.044 |
10.2 |
0.19 |
13.28 |
MTH-LS25-08 |
3 |
4 |
1 |
799864 |
0.069 |
7.7 |
0.18 |
12.53 |
MTH-LS25-08 |
4 |
5 |
1 |
799865 |
0.058 |
5.8 |
0.14 |
9.86 |
MTH-LS25-08 |
5 |
6 |
1 |
799866 |
0.96 |
15.4 |
1.18 |
82.6 |
MTH-LS25-08 |
7 |
8 |
1 |
799868 |
0.089 |
1 |
0.10 |
7.23 |
MTH-LS25-08 |
14 |
15 |
1 |
799876 |
0.479 |
10.6 |
0.63 |
44.13 |
MTH-LS25-08 |
16.5 |
17.6 |
1.1 |
799879 |
0.061 |
3.5 |
0.11 |
7.77 |
MTH-LS25-08 |
17.6 |
18.1 |
0.5 |
799881 |
1.19 |
51.5 |
1.93 |
134.8 |
MTH-LS25-08 |
18.1 |
19 |
0.9 |
799882 |
0.36 |
62.2 |
1.25 |
87.4 |
MTH-LS25-08 |
19 |
20.08 |
1.08 |
799883 |
7.97 |
171 |
10.41 |
728.9 |
MTH-LS25-08 |
20.08 |
21 |
0.92 |
799884 |
0.22 |
34.9 |
0.72 |
50.44 |
MTH-LS25-08 |
21 |
21.5 |
0.5 |
799885 |
0.22 |
35.9 |
0.74 |
51.51 |
MTH-LS25-08 |
21.5 |
22 |
0.5 |
799886 |
1.88 |
76.7 |
2.98 |
208.3 |
MTH-LS25-08 |
22 |
23 |
1 |
799887 |
0.36 |
46.2 |
1.02 |
71.33 |
MTH-LS25-08 |
23 |
24 |
1 |
799888 |
0.26 |
43.9 |
0.89 |
62.31 |
MTH-LS25-08 |
24 |
25 |
1 |
799889 |
0.33 |
33.4 |
0.81 |
56.36 |
MTH-LS25-08 |
25 |
26 |
1 |
799890 |
0.07 |
4.1 |
0.13 |
9.00 |
MTH-LS25-08 |
29 |
30 |
1 |
799894 |
0.037 |
7 |
0.14 |
9.59 |
MTH-LS25-08 |
30 |
31 |
1 |
799895 |
0.027 |
5.7 |
0.11 |
7.59 |
MTH-LS25-08 |
39.5 |
40 |
0.5 |
799906 |
0.055 |
16.9 |
0.30 |
20.75 |
MTH-LS25-08 |
40 |
40.5 |
0.5 |
799907 |
0.345 |
8.2 |
0.46 |
32.35 |
MTH-LS25-08 |
41 |
41.5 |
0.5 |
799909 |
0.629 |
7.5 |
0.74 |
51.53 |
MTH-LS25-08 |
42 |
43 |
1 |
799911 |
0.339 |
2.4 |
0.37 |
26.13 |
MTH-LS25-08 |
71 |
72 |
1 |
799916 |
0.037 |
4.8 |
0.11 |
7.39 |
MTH-LS25-08 |
88 |
89 |
1 |
799917 |
0.332 |
9.7 |
0.47 |
32.94 |
MTH-LS25-08 |
89 |
89.8 |
0.8 |
799918 |
0.033 |
5.2 |
0.11 |
7.51 |
MTH-LS25-08 |
89.8 |
90.3 |
0.5 |
799919 |
13.25 |
584 |
18.34 |
1284 |
MTH-LS25-08 |
90.3 |
91 |
0.7 |
799921 |
0.11 |
5.7 |
0.19 |
13.4 |
MTH-LS25-08 |
97 |
97.75 |
0.75 |
799929 |
0.566 |
28.1 |
0.97 |
67.72 |
MTH-LS25-08 |
97.75 |
98.25 |
0.5 |
799930 |
2.44 |
58.4 |
3.27 |
229.2 |
MTH-LS25-08 |
98.25 |
98.75 |
0.5 |
799931 |
1.23 |
44.4 |
1.86 |
130.5 |
MTH-LS25-08 |
98.75 |
99.75 |
1 |
799932 |
0.121 |
1.3 |
0.14 |
9.77 |
MTH-LS25-08 |
105 |
106 |
1 |
799940 |
0.112 |
4.5 |
0.18 |
12.34 |
MTH-LS25-08 |
107.3 |
108 |
0.7 |
799943 |
0.35 |
5.2 |
0.42 |
29.7 |
MTH-LS25-08 |
179.35 |
179.85 |
0.5 |
799982 |
0.98 |
3.3 |
1.03 |
71.9 |
MTH-LS25-08 |
185 |
186 |
1 |
799989 |
0.26 |
6.8 |
0.36 |
25.00 |
MTH-LS25-08 |
187.58 |
188.15 |
0.57 |
799992 |
0.332 |
2.3 |
0.36 |
25.54 |
MTH-LS25-09 |
20 |
20.74 |
0.74 |
800008 |
0.09 |
2 |
0.12 |
8.23 |
MTH-LS25-09 |
20.74 |
21.67 |
0.93 |
800009 |
0.14 |
4.3 |
0.20 |
13.89 |
MTH-LS25-09 |
21.67 |
22.5 |
0.83 |
800010 |
0.43 |
2 |
0.45 |
31.82 |
MTH-LS25-09 |
40 |
40.6 |
0.6 |
800018 |
0.10 |
5.4 |
0.18 |
12.61 |
MTH-LS25-09 |
48.3 |
48.91 |
0.61 |
800022 |
0.36 |
35.3 |
0.87 |
60.64 |
MTH-LS25-09 |
48.91 |
49.41 |
0.5 |
800023 |
0.25 |
21.7 |
0.56 |
39.41 |
MTH-LS25-09 |
88.5 |
89 |
0.5 |
800035 |
0.56 |
28.8 |
0.97 |
67.65 |
MTH-LS25-09 |
98.25 |
98.5 |
0.25 |
800036 |
15.20 |
786 |
26.43 |
1850 |
MTH-LS25-09 |
120.5 |
121 |
0.5 |
800039 |
0.33 |
31.7 |
0.78 |
54.59 |
MTH-LS25-09 |
138 |
138.3 |
0.3 |
800043 |
5.39 |
210 |
8.39 |
587.3 |
MTH-LS25-09 |
196 |
196.9 |
0.9 |
800062 |
0.19 |
0.8 |
0.20 |
14.24 |
MTH-LS25-09 |
196.9 |
197.45 |
0.55 |
800063 |
0.11 |
1.1 |
0.12 |
8.59 |
MTH-LS25-09 |
198 |
199 |
1 |
800065 |
0.22 |
0.7 |
0.23 |
15.96 |
MTH-LS25-10 |
65 |
66 |
1 |
800098 |
0.042 |
5.4 |
0.12 |
8.34 |
MTH-LS25-10 |
66 |
66.6 |
0.6 |
800099 |
0.079 |
14.7 |
0.29 |
20.23 |
MTH-LS25-10 |
66.6 |
67.2 |
0.6 |
800101 |
0.099 |
11.7 |
0.27 |
18.63 |
MTH-LS25-10 |
67.2 |
68 |
0.8 |
800102 |
0.968 |
122 |
2.71 |
189.76 |
MTH-LS25-10 |
68 |
68.8 |
0.8 |
800103 |
4.49 |
308 |
8.89 |
622.30 |
MTH-LS25-10 |
68.8 |
69.4 |
0.6 |
800104 |
0.106 |
3.6 |
0.16 |
11.02 |
MTH-LS25-10 |
69.4 |
70 |
0.6 |
800105 |
0.299 |
5.6 |
0.38 |
26.53 |
MTH-LS25-10 |
70 |
70.55 |
0.55 |
800106 |
2.42 |
504 |
9.62 |
673.40 |
MTH-LS25-10 |
70.55 |
71.25 |
0.7 |
800107 |
0.127 |
4 |
0.18 |
12.89 |
MTH-LS25-10 |
71.25 |
72.05 |
0.8 |
800108 |
1.39 |
215 |
4.46 |
312.30 |
MTH-LS25-10 |
73 |
74 |
1 |
800110 |
0.27 |
6.3 |
0.36 |
25.20 |
MTH-LS25-10 |
75 |
76 |
1 |
800112 |
0.147 |
5.9 |
0.23 |
16.19 |
MTH-LS25-10 |
76 |
77 |
1 |
800113 |
0.083 |
5.4 |
0.16 |
11.21 |
MTH-LS25-10 |
91.5 |
92.25 |
0.75 |
800131 |
0.083 |
15.2 |
0.30 |
21.01 |
MTH-LS25-10 |
98.1 |
98.8 |
0.7 |
800139 |
0.042 |
6.3 |
0.13 |
9.24 |
MTH-LS25-10 |
102 |
102.55 |
0.55 |
800144 |
0.022 |
42.7 |
0.63 |
44.24 |
MTH-LS25-10 |
102.55 |
103.1 |
0.55 |
800145 |
0.4 |
17.4 |
0.65 |
45.40 |
MTH-LS25-10 |
103.1 |
104 |
0.9 |
800146 |
0.641 |
27.3 |
1.03 |
72.17 |
MTH-LS25-10 |
108 |
108.95 |
0.95 |
800152 |
0.069 |
37.5 |
0.60 |
42.33 |
MTH-LS25-10 |
108.95 |
109.45 |
0.5 |
800153 |
0.043 |
7.6 |
0.15 |
10.61 |
MTH-LS25-10 |
110.05 |
111 |
0.95 |
800155 |
0.132 |
5.9 |
0.22 |
15.14 |
MTH-LS25-10 |
111 |
112 |
1 |
800156 |
0.156 |
11 |
0.31 |
21.92 |
MTH-LS25-10 |
112 |
113 |
1 |
800157 |
0.659 |
82.2 |
1.83 |
128.33 |
MTH-LS25-10 |
113 |
114 |
1 |
800158 |
20.70 |
1130 |
36.84 |
2579.00 |
MTH-LS25-10 |
114 |
114.55 |
0.55 |
800159 |
7.4 |
447 |
13.79 |
965.00 |
MTH-LS25-10 |
114.55 |
115.05 |
0.5 |
800161 |
0.122 |
10.3 |
0.27 |
18.84 |
MTH-LS25-10 |
115.05 |
116 |
0.95 |
800162 |
0.255 |
17.1 |
0.50 |
34.95 |
MTH-LS25-10 |
116 |
117 |
1 |
800163 |
0.108 |
14.3 |
0.31 |
21.86 |
MTH-LS25-10 |
124.1 |
125 |
0.9 |
800172 |
0.027 |
8.4 |
0.15 |
10.29 |
MTH-LS25-10 |
127.6 |
128.1 |
0.5 |
800177 |
1.93 |
141 |
3.94 |
276.10 |
MTH-LS25-10 |
128.6 |
129.2 |
0.6 |
800179 |
1.14 |
24.3 |
1.49 |
104.10 |
MTH-LS25-10 |
130 |
131 |
1 |
800181 |
0.043 |
8 |
0.16 |
11.01 |
MTH-LS25-10 |
141.6 |
142.1 |
0.5 |
800193 |
2.74 |
123 |
4.50 |
314.80 |
MTH-LS25-10 |
189.1 |
190 |
0.9 |
800220 |
0.18 |
3.3 |
0.23 |
15.90 |
MTH-LS25-10 |
192.3 |
192.8 |
0.5 |
800224 |
0.081 |
2 |
0.11 |
7.67 |
MTH-LS25-11 |
102.2 |
103.15 |
0.95 |
800281 |
0.23 |
22.6 |
0.55 |
38.70 |
MTH-LS25-11 |
103.15 |
103.95 |
0.8 |
800282 |
0.109 |
7.7 |
0.22 |
15.33 |
MTH-LS25-11 |
105 |
106 |
1 |
800284 |
0.097 |
12.1 |
0.27 |
18.89 |
MTH-LS25-11 |
106 |
107 |
1 |
800285 |
0.565 |
27.5 |
0.96 |
67.05 |
MTH-LS25-11 |
107 |
108 |
1 |
800286 |
1 |
27.2 |
1.39 |
97.20 |
MTH-LS25-11 |
108 |
108.8 |
0.8 |
800287 |
31.6 |
4030 |
89.17 |
6242.00 |
MTH-LS25-11 |
108.8 |
109.35 |
0.55 |
800288 |
7.15 |
641 |
16.31 |
1141.50 |
MTH-LS25-11 |
109.35 |
110 |
0.65 |
800289 |
8.69 |
892 |
21.43 |
1500.30 |
MTH-LS25-11 |
110 |
110.55 |
0.55 |
800290 |
110 |
7530 |
217.57 |
15230.00 |
MTH-LS25-11 |
110.55 |
111.25 |
0.7 |
800291 |
6.95 |
1020 |
21.52 |
1506.50 |
MTH-LS25-11 |
111.25 |
111.95 |
0.7 |
800292 |
0.505 |
50.1 |
1.22 |
85.45 |
MTH-LS25-11 |
111.95 |
113 |
1.05 |
800293 |
0.359 |
37.8 |
0.90 |
62.93 |
MTH-LS25-11 |
129.49 |
130.49 |
1 |
800297 |
0.251 |
26.2 |
0.63 |
43.77 |
MTH-LS25-11 |
130.49 |
131.05 |
0.56 |
800298 |
22.8 |
1425 |
43.16 |
3021.00 |
MTH-LS25-11 |
136.78 |
137.2 |
0.42 |
800306 |
1.12 |
88.6 |
2.39 |
167.00 |
MTH-LS25-11 |
137.2 |
137.7 |
0.5 |
800307 |
8.21 |
471 |
14.94 |
1045.70 |
MTH-LS25-11 |
137.7 |
138.6 |
0.9 |
800308 |
0.132 |
11.8 |
0.30 |
21.04 |
MTH-LS25-11 |
138.6 |
139.6 |
1 |
800309 |
0.453 |
38.6 |
1.00 |
70.31 |
MTH-LS25-11 |
139.6 |
140.55 |
0.95 |
800310 |
0.212 |
61.2 |
1.09 |
76.04 |
MTH-LS25-11 |
140.55 |
141.15 |
0.6 |
800311 |
0.037 |
6.9 |
0.14 |
9.49 |
MTH-LS25-11 |
148 |
148.45 |
0.45 |
800323 |
0.277 |
4.6 |
0.34 |
23.99 |
MTH-LS25-11 |
173 |
174 |
1 |
800330 |
0.012 |
7.6 |
0.12 |
8.44 |
MTH-LS25-11 |
182 |
182.6 |
0.6 |
800336 |
0.265 |
14.5 |
0.47 |
33.05 |
MTH-LS25-11 |
182.6 |
183.1 |
0.5 |
800337 |
0.069 |
3.5 |
0.12 |
8.33 |
MTH-LS25-11 |
191 |
191.5 |
0.5 |
800347 |
0.064 |
5.6 |
0.14 |
10.08 |
JORC Code, 2012 Edition – Table 1
Section 1 Sampling Techniques and Data
Criteria |
JORC Code explanation |
Commentary |
Sampling techniques |
|
|
Drilling techniques |
|
|
Drill sample recovery |
|
|
Logging |
|
• Core samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Core logging is both qualitative or quantitative in nature. Photos are taken of each box of core before samples are cut. Core is wetted to improve visibility of features in the photos.
|
Sub-sampling techniques and sample preparation |
|
• Core is sawn and half core is taken for sample. • Samples are prepared using ALS Minerals Prep-31 crushing, splitting and pulverizing. This is appropriate for the type of deposit being explored. • Visual review to assure that the cut core is ½ of the core is performed to assure representativity of samples. • field duplicate/second-half sampling is undertaken for 3% of all samples to determine representativity of the sample media submitted.
|
Quality of assay data and laboratory tests |
|
• Samples are assayed for gold using ALS Minerals Au-AA25 method a 30 g fire assay with an AA finish. This is considered a total assay technique. Samples are assayed for silver using ALS Minerals ME-ICP61 method. Over limits are assayed by AgOG63 and AgGRAV21. These are considered a total assay technique.
|
Verification of sampling and assaying |
|
• The verification of significant intersections by either independent or alternative company personnel has not been conducted. A re-assay program of pulp duplicates is currently in progress. • The use of twinned holes. No twin holes have been drilled. MTH has drilled one twin hole. Hole CDH-072, reported in the 15/6/2021 announcement, is a twin of holes EC-/002 and UC-03. Results are comparable. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols are maintained in the company’s core facility.
|
Location of data points |
|
• Drill collar coordinates are currently located by handheld GPS. Precise survey of hole locations is planned. Downhole surveys of hole deviation are recorded for all holes. Locations for holes CDH-001 through CDH-048 and CDH-051 through CDH-148 have been surveyed with differential GPS to a sub 10 cm precision. Hole CDH-005 was not surveyed • UTM/UPS WGS 84 zone 13 N
|
Data spacing and distribution |
|
• Data spacing is appropriate for the reporting of Exploration Results. • The Resource estimation re-printed in this announcement was originally released on 16 Nov 2021
|
Orientation of data in relation to geological structure |
|
• Cut lines are marked on the core by the geologists to assure that the orientation of sampling achieves unbiased sampling of possible structures. This is reasonably well observed in the core and is appropriate to the deposit type.
|
Sample security |
|
|
Audits or reviews |
|
|
Section 2 Reporting of Exploration Results
Criteria |
JORC Code explanation |
Commentary |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mineral tenement and land tenure status |
|
|
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Exploration done by other parties |
|
|
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Geology |
|
|
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Drill hole Information |
|
|
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Data aggregation methods |
|
|
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Relationship between mineralisation widths and intercept lengths |
|
|
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Diagrams |
|
See figures in announcement |
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Balanced reporting |
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|
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Other substantive exploration data |
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|
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Further work |
|
|
1 See ‘About Copalquin Gold Silver Project’ section for JORC MRE details and AuEq. calculation.
2 See ‘About Copalquin Gold Silver Project’ section for JORC MRE details and AuEq. calculation.
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Market volatility was on full display this week, beginning with a sharp selloff on Monday (February 24) and exacerbated by a rollout of downbeat economic data, including a weak consumer sentiment report.
Those feelings were echoed in the findings of a Harris Poll conducted for Bloomberg News, which found that nearly 60 percent of US adults expect higher prices in 2025 if President Donald Trump’s policies are enacted.
Rising US jobless claims and fluctuating Personal Consumption Expenditures price index data on Thursday (February 27), coupled with Friday (February 28) numbers showing US consumer spending fell in January and a tense meeting between Trump and Ukrainian President Volodymyr Zelenskyy, intensified economic concerns.
The tech and crypto markets felt the impact of this uncertainty, with Bitcoin ultimately dropping below US$78,400 on Thursday night, over 20 percent lower than its price near US$100,000 seen last week.
All Mag 7 stocks moved down on Tuesday (February 25) after the consumer sentiment report, with Tesla (NASDAQ:TSLA) leading the descent. Its market cap dipped below US$1 trillion after January data from the European Automobile Manufacturers’ Association showed 45 percent fewer Tesla registrations year-on-year. The carmaker ended the week down 13.24 percent. NVIDIA (NASDAQ:NVDA) and Palantir (NASDAQ:PLTR) also lost over 10 percent this week.
Amid these fluctuating market dynamics, Vinod Khosla, founder of Khosla Ventures, urged attendees at the Information’s AI Agenda Live conference in San Francisco to be selective when looking for artificial intelligence (AI) opportunities.
“Most investments in AI will lose money, but a few high-return outliers will offset the losses,” he said. “Right now, we’re in the greed cycle of investing because people see the momentum that’s been established in the market caps.”
With that, here’s a look at other key events that made tech headlines this week.
Software startup Cohere is making waves in the international AI market.
A Monday report from the Information reveals that the Canadian AI company, which develops large language models (LLMs), surpassed US$70 million in annualized revenue, a three-fold increase compared to last year.
In July 2024, the company was valued at US$5.5 billion. In January, it launched North, an “all-in-one secure AI workspace platform” that combines LLMs, advanced search and automation tools to help enterprises enable automation and streamline efficiency. Roughly 25 percent of its revenue growth is reportedly from international markets.
Such a drastic increase in revenue may not come as a surprise given Cohere’s strong backing by industry heavyweights like Salesforce (NYSE:CRM), Cisco Systems (NASDAQ:CSCO), Advanced Micro Devices (NASDAQ:AMD) and NVIDIA. The company’s professional relationships have been instrumental to its growth. Cohere’s Command R model was integrated into NVIDIA’s API catalog last year. Cohere has also secured a partnership with CoreWeave to build data centers in Canada, with the financial backing of the Canadian government and hardware supplied by NVIDIA.
NVIDIA itself released its latest quarterly results on Wednesday (February 26), reporting earnings per share of US$0.89, surpassing analysts’ estimates of US$0.85. It is projecting revenue of US$43 billion for the coming quarter.
Despite a slight dip in share price the day before its results came out, perhaps driven by potential restrictions on sales of its graphic processing units to China, the market reacted positively to NVIDIA’s performance. The company’s share price closed at US$131.28 on Wednesday, climbing to US$135.67 in after-hours trading. NVIDIA closed the week at US$124.92 per share, down 8.52 percent from Monday’s opening price.
Apple (NASDAQ:APPL) started the week by announcing a US$500 billion investment in the US over the course of next four years. The company’s commitment includes a new manufacturing academy in Michigan, accelerated research and development efforts and a new 250,000 square foot manufacturing plant in Houston.
“The servers that will soon be assembled in Houston play a key role in powering Apple Intelligence, and are the foundation of Private Cloud Compute, which combines powerful AI processing with the most advanced security architecture ever deployed at scale for AI cloud computing,” the company wrote in a press release.
The center, which the company says will employ 20,000 workers, is slated to begin operations in 2026.
Trump recently revealed Apple’s intention to shift manufacturing from Mexico to the US after a meeting with CEO Tim Cook, preempting the company’s official announcement.
“He’s going to start building,” Trump told governors at the White House on February 21. “Very big numbers — you have to speak to him. I assume they’re going to announce it at some point.”
In a separate development, Apple finalized an investment agreement with Indonesia on Thursday, ending a five month deadlock that prevented iPhone 16 sales in the country. The agreement includes the construction of an AirTag manufacturing facility on Batam Island and another plant in Bandung, West Java.
BNY Mellon, America’s oldest bank, announced a multi-year partnership with OpenAI on Wednesday.
The agreement will give BNY Mellon access to OpenAI’s advanced AI tools, including Deep Research and its most advanced reasoning models. These tools will enhance BNY Mellon’s internal AI platform, Eliza. OpenAI aims to gain valuable insights into the real-world performance of its models for complex tasks through this collaboration.
This focus on advanced reasoning models is a key aspect of OpenAI’s broader strategy, even as it explores different facets of AI with its latest release, GPT-4.5, on Thursday. GPT-4.5 is the latest iteration of its language model, ChatGPT.
GPT-4.5 employs “unsupervised learning,” a type of machine learning where algorithms analyze and find patterns in unlabeled data. According to OpenAI’s CEO Sam Altman, the model exhibits greater emotional intelligence and is less likely to hallucinate than past models. “It is the first model that feels like talking to a thoughtful person to me,” Altman posted on X on Thursday afternoon following a press release. “(I) have had several moments where I’ve sat back in my chair and been astonished at getting actually good advice from an AI.”
Altman also explained that the model’s size and complexity demand substantial computational resources, delaying the release of the ‘plus’ tier until after “tens of thousands of GPUs” are added next week.
In addition, he clarified that GPT-4.5 is not a reasoning model and “won’t crush any benchmarks. (I)t’s a different kind of intelligence and there’s a magic to it (I) haven’t felt before.” In essence, GPT-4.5 represents advancement towards more intuitive AI capable of adaptable, meaningful and natural conversations.
Cloud computing provider CoreWeave is reportedly considering an initial public offering (IPO) in the US. The official announcement could come within a week, according to sources for Bloomberg, who said the details of the plan are still being decided. Company representatives did not respond to Bloomberg’s request for a statement.
Bloomberg also reported on rumors of a CoreWeave IPO in November, with sources at the time saying executives had chosen prominent investors Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) to lead. The company secured US$23 billion from Cisco Systems in October 2024.
CoreWeave is now seeking US$4 billion, targeting a valuation of at least US$35 billion.
Meta Platforms (NASDAQ:META) is reportedly in talks to build a new data center campus to power its ambitious AI projects, valued at approximately US$200 billion. Sources familiar with the matter revealed to the Information that Meta executives are actively exploring potential sites in Louisiana, Wyoming and Texas.
However, a Meta spokesperson refuted these reports, reasserting the company’s previously disclosed capital expenditure and data center plans, confirming that those plans have been finalized.
In related news, CNBC reported on Thursday that Meta is preparing to launch a standalone app dedicated to its chatbot, Meta AI. This move would allow users to engage with and use the AI chatbot on a separate platform from the company’s other social media and messaging apps.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.